Apple 1999 Annual Report Download - page 122

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Chairman of the Board with the Company. Continuous Status as Chairman shall not be considered interrupted in the case of medical leave,
military leave, family leave, or any other leave of absence approved by the Administrator, provided, in each case, that such leave does not
result in termination as Chairman with the Company. Neither service as a Director nor payment of a director's fee by the Company shall be
sufficient to constitute status as "Chairman" by the Company.
(k) "CONTINUOUS STATUS AS AN EMPLOYEE" means the absence of any interruption or termination of the employment relationship
with the Company or any Subsidiary. Continuous Status as an Employee shall not be considered interrupted in the case of (i) medical leave,
military leave, family leave, or any other leave of absence approved by the Administrator, provided, in each case, that such leave does not
result in termination of the employment relationship with the Company or any Subsidiary, as the case may be, under the terms of the respective
Company policy for such leave; however, vesting may be tolled while an employee is on an approved leave of absence under the terms of the
respective Company policy for such leave; or (ii) in the case of transfers between locations of the Company or between the Company, its
Subsidiaries, or its successor; For purposes of Incentive Stock Options, no such leave may exceed ninety days, unless reemployment upon
expiration of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company
is not so guaranteed, on the 91st day of such leave any Incentive Stock Option held by the Optionee shall cease to be treated as an Incentive
Stock Option and shall be treated for tax purposes as a Nonstatutory Stock Option. Neither service as a Chairman nor as a Director nor payment
of a director's fee by the Company shall be sufficient to constitute "employment" by the Company.
(l) "DIRECTOR" means a member of the Board.
(m) "EMPLOYEE" means any person employed by the Company or any Parent or Subsidiary of the Company subject to (k) above.
(n) "EXCHANGE ACT" means the Securities Exchange Act of 1934, as amended.
(o) "EXECUTIVE OFFICER" means any person who is an officer of the
Stock determined as follows:
(i) If the Common Stock is listed on any established stock exchange or a national market system, including without limitation the Nasdaq
National Market or The Nasdaq SmallCap Market of The Nasdaq Stock Market, its Fair Market Value shall be the closing sales price for such
stock (or the closing bid, if no sales were reported) as quoted on such exchange or system, on the date of determination or, if the date of
determination is not a trading day, the immediately preceding trading day, as reported in THE WALL STREET JOURNAL or such other
source as the Administrator deems reliable;
(ii) If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value of a
Share of Common Stock shall be the mean between the high bid and low asked prices for the Common Stock on the date of determination or, if
there are no quoted prices on the date of determination, on the last day on which there are quoted prices prior to the date of determination, as
reported in THE WALL STREET JOURNAL or such other source as the
2
Company within the meaning of Section 16 of the Exchange Act and the rules and
regulations promulgated thereunder.
(p) "FAIR MARKET VALUE" means, as of any date, the value of Common