Apple 2005 Annual Report Download - page 117
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•
to closely link Employee compensation with Company performance.
Awards granted under the Plan may be Incentive Stock Options, Nonstatutory Stock Options, Restricted Stock subject to
Stock Purchase Rights, Stock Appreciation Rights, Performance Shares or Restricted Stock Units, as determined by the Administrator at the
time of grant.
2.
Definitions . As used herein, the following definitions shall apply:
(a)
“ Administrator ” means the Board or any of its Committees as shall be administering the Plan, in accordance with
Section 4 of the Plan.
(b)
“ Annual Revenue ” means the Company’s or a business unit’s net sales for the Fiscal Year, determined in
accordance with generally accepted accounting principles.
(c)
“ Applicable Laws ” means the requirements relating to the administration of stock plans under U.S. state corporate
laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted
and the applicable laws of any foreign country or jurisdiction where Awards are, or will be, granted under the Plan.
(d)
“ Award ” means, individually or collectively, a grant under the Plan of Options, Restricted Stock subject to Stock
Purchase Rights, Stock Appreciation Rights, Performance Shares or Restricted Stock Units.
(e)
“ Award Agreement ”
means the written or electronic agreement setting forth the terms and provisions applicable to
each Award granted under the Plan. The Award Agreement is subject to the terms and conditions of the Plan.
(f)
“ Awarded Stock ” means the Common Stock subject to an Award.
(g)
“ Board ” means the Board of Directors of the Company.
(h)
“ Cash Position ” means the Company’s level of cash and cash equivalents.
(i)
“ Chairman ” means the Chairman of the Board.
(j)
“ Code ” means the Internal Revenue Code of 1986, as amended.