Apple 2003 Annual Report Download - page 117

Download and view the complete annual report

Please find page 117 of the 2003 Apple annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 164

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164

principles and the action shall be brought in a court of competent jurisdiction in the State of New York , in which event both parties hereby
consent to the exclusive personal jurisdiction of, and waive any venue objections against any such court . If IBM commences any action
against Apple relating to or arising out of this Agreement, the substantive laws of the State of California shall be applied exclusively to govern
this Agreement without regard to conflict of law principles and the action shall be brought in a court of competent jurisdiction in the State of
California , in which event both parties hereby consent to the exclusive personal jurisdiction of, and waive any venue objections against any
such court . If, notwithstanding the foregoing, a New York or California court’s judgment (with respect to either the underlying action or any
counterclaim) is not enforceable against a party, the other party may bring such an action in any court of competent jurisdiction. Neither party
will bring a legal action against the other more than one (1) year after the cause of action has been, or reasonably should have been, discovered,
except for actions for non-payment of amounts due pursuant to this Agreement (including actions for non-payment of amounts due under
Sections 11 and 14) or to enforce intellectual property rights.
21.4 Apple may assign its rights or delegate its obligations without the prior written consent of IBM only in connection with a merger or a
sale of all or substantially all of its assets to a third party reasonably determined by Apple to be creditworthy. IBM may assign its rights or
delegate its obligations without the prior written consent of Apple only in connection with a merger or a sale of all or substantially all of the
assets of the IBM Microelectronics Division or any successor business unit thereof relating to the subject matter of the Agreement to a third
party reasonably determined by IBM to be capable of fulfilling IBM’s obligations hereunder, provided that IBM may freely assign its rights to
receive payment from Apple hereunder to any third party. IBM has the right to subcontract its responsibilities under this Agreement, provided
that IBM remains responsible to Apple as provided in this Agreement with respect to such subcontracted responsibilities.
21.5 No delay or failure by either party to act in the event of a breach or default hereunder shall be construed as a waiver of that or any
subsequent breach or default of any provision of this Agreement.
21.6 If any part, term or provision of this Agreement is declared unlawful or unenforceable by judicial determination, the remainder of this
Agreement shall remain in full force and effect and the parties will agree upon a valid replacement provision with like economic effect and
intent.
21.7 Any terms of this Agreement which by their nature extend beyond expiration or termination of this Agreement shall remain in effect
until fulfilled and shall bind the parties and their legal representatives, successors, heirs and assigns.
21.8 The headings contained in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this
Agreement.
[**] = information redacted pursuant to a confidential treatment request. Such omitted information has been filed separately with the Securities
and Exchange Commission.