Apple 1999 Annual Report Download - page 128

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determine the acceptable form of consideration at the time of grant. Such consideration may consist entirely of:
(i) cash;
(ii) check;
(iii) promissory note;
(iv) other Shares which (A) in the case of Shares acquired upon exercise of an option, have been owned by the Optionee for more than six
months on the date of surrender, and (B) have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares
as to which said Option shall be exercised;
(v) consideration received by the Company under a cashless exercise program implemented by the Company in connection with the Plan;
(vi) a reduction in the amount of any Company liability to the Optionee, including any liability attributable to the Optionee's participation in
any Company-sponsored deferred compensation program or arrangement;
(vii) any combination of the foregoing methods of payment; or
(viii) such other consideration and method of payment for the issuance of Shares to the extent permitted by Applicable Laws.
10. STOCK APPRECIATION RIGHTS.
(a) GRANTED IN CONNECTION WITH OPTIONS. At the sole discretion of the Administrator, SARs may be granted in connection with all
or any part of an Option, either concurrently with the grant of the Option or at any time thereafter during the term of the Option. The following
provisions apply to SARs that are granted in connection with Options:
(i) The SAR shall entitle the Optionee to exercise the SAR by surrendering to the Company unexercised a portion of the related Option. The
Optionee shall receive in exchange from the Company an amount equal to the excess of (x) the Fair Market Value on the date of exercise of the
SAR of the Common Stock covered by the surrendered portion of the related Option over (y) the exercise price of the Common Stock covered
by the surrendered portion of the related Option. Notwithstanding the foregoing, the Administrator may place limits on the amount that may be
paid upon exercise of a SAR; provided, however, that such limit shall not restrict the exercisability of the related Option;
(ii) When a SAR is exercised, the related Option, to the extent surrendered, shall no longer be exercisable;
(iii) A SAR shall be exercisable only when and to the extent that the related Option is exercisable and shall expire no later than the date on
which the related Option expires; and
(iv) A SAR may only be exercised at a time when the Fair Market Value of the Common Stock covered by the related Option exceeds the
exercise price of the Common Stock covered by the related Option.
(b) INDEPENDENT SARs. At the sole discretion of the Administrator, SARs may be granted without related Options. The following
provisions apply to
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