Apple 2003 Annual Report Download - page 128

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and one-half percent (1.5%) per month or the statutorily maximum rate of interest in accordance with the laws of the State of New York. In
addition, if a Designee’s account balance exceeds Apple’s credit limit with IBM, or becomes delinquent, IBM may stop shipments to the
Designee or ship on a prepaid basis until the account is compliant.
7.0 CONFIDENTIAL INFORMATION
7.1 The terms and conditions and the existence of this Term Sheet are “Confidential Information” subject to the terms and conditions of
the confidentiality agreement signed by the Designee and Apple. Designees shall not disclose the terms and conditions of this Term Sheet to
any third party without the prior written consent of both IBM and Apple.
8.0 LICENSE
8.1 No license, immunity or other right is granted herein to any Designee whether directly or by implication, estoppel or otherwise, with
respect to any patent, trademark, copyright, mask work, trade secret, utility, model, or know-how, or other intellectual property right of IBM.
Nothing herein shall abrogate any rights that may arise by operation of the patent exhaustion doctrine.
9.0 TRADEMARK
9.1 Nothing in the Agreement or this Term Sheet grants Designee or either party any rights to use either party’s or the Designee’s
trademarks or trade names, directly or indirectly, in connection with any product, service, promotion, or to make any publication or publicity
without prior written approval of the other party or trademark or trade name owner.
10.0 WARRANTIES
10.1 Product Warranty.
10.1.1 PowerPC Warranty. IBM warrants each PowerPC Product delivered hereunder to be free from defects in material and
workmanship and to comply with Product specifications at the time of manufacture, as agreed in writing by IBM and Apple, for the
notice period of [**] from the date of shipment.
10.1.2 ASIC Product Warranty. IBM warrants all ASIC Products delivered to be free from defects in material and workmanship
and conform to the Product specifications as
[**] = information redacted pursuant to a confidential treatment request. Such omitted information has been filed
separately with the Securities and Exchange Commission.