Apple 1999 Annual Report Download - page 130

that it was exercisable at the date of such termination. Notwithstanding the foregoing, however, an Option or SAR may not be exercised after
the date the Option or SAR would otherwise expire by its terms due to the passage of time from the date of grant.
(c) TERMINATION OF CONTINUOUS EMPLOYMENT. Upon termination of an Optionee's Continuous Status as Employee (other than
termination by reason of the Optionee's death), the Optionee may, but only within ninety (90) days after the date of such termination, exercise
his or her Option or SAR to the extent that it was exercisable at the date of such termination. Notwithstanding the foregoing, however, an
Option or SAR may not be exercised after the date the Option or SAR would otherwise expire by its terms due to the passage of time from the
date of grant.
(d) DEATH OF OPTIONEE. If an Optionee dies (i) while an Employee or Chairman, the Option or SAR may be exercised at any time within
six (6) months (or such other period of time not exceeding twelve (12) months as determined by the Administrator) following the date of death
by the Optionee's estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent of the
right to exercise that would have accrued had the Optionee continued living and terminated his or her employment six (6) months (or such
other period of time not exceeding twelve (12) months as determined by the Administrator) after the date of death; or (ii) within ninety (90)
days after the termination of Continuous Status as an Employee or Chairman, the Option or SAR may be exercised, at any time within six (6)
months (or such other period of time not exceeding twelve (12) months as determined by the Administrator) following the date of death by the
Optionee's estate or by a person who acquired the right to exercise the Option or SAR by bequest or inheritance, but only to the extent of the
right to exercise that had accrued at the date of termination. If the Option or SAR is not so exercised within the time specified herein, the
Option or SAR shall terminate, and the Shares covered by such Option or SAR shall revert to the Plan.
Notwithstanding the foregoing, however, an Option or SAR may not be exercised after the date the Option or SAR would otherwise expire by
its terms due to the passage of time from the date of grant.
(e) BUYOUT PROVISIONS. The Administrator may at any time offer to buy out for a payment in cash or Shares an Option or SAR previously
granted based on such terms and conditions as the Administrator shall establish and communicate to the Optionee at the time that such offer is
made.
12. STOCK PURCHASE RIGHTS.
(a) RIGHTS TO PURCHASE. Stock Purchase Rights may be issued either alone, in addition to, or in tandem with other awards granted under
the Plan and/or cash awards made outside of the Plan. After the Administrator determines that it will offer Stock Purchase Rights under the
Plan, it shall advise the Optionee in writing or electronically, of the terms, conditions and restrictions related to the offer, including the number
of Shares that the Optionee shall be entitled to purchase, the price to be paid, and the time within which the Optionee must accept such offer.
The offer shall be accepted by execution of an Agreement in the form determined by the Administrator.
(b) REPURCHASE OPTION. Unless the Administrator determines otherwise, the Agreement shall grant the Company a repurchase option
exercisable upon the voluntary or involuntary termination of the purchaser's service with the Company for any reason (including death or
Disability). The purchase price for Shares repurchased pursuant to the Agreement shall be the original price paid by the purchaser and may be
paid by cancellation of any indebtedness of the purchaser to the Company. The repurchase option shall lapse at a rate
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