Apple 2014 Annual Report Download - page 110

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Exhibit 10.13
The Compensation Committee is pleased to amend the treatment of your outstanding and unvested restricted stock units (“RSUs”)
upon your death or disability to provide greater financial security for you and your beneficiaries during a difficult time.
The amendments to the RSU awards are described below and take effect immediately. The Compensation Committee expects to
include these terms in all awards going forward.
Except as expressly set forth below, this letter does not modify any other terms of your awards. The existin
g
vestin
g
and othe
r
provisions remain in effect.
Please contact stock@apple.com if you have any questions about any of the matters covered in this letter.
Time-Based Awards
If you hold time-based RSUs, your awards are amended to provide for full accelerated vestin
g
at the time of your death. The awards
are also amended to provide for additional vesting if you terminate employment due to disability. “Time-based” RSUs are the most
common awards
g
ranted by Apple. They only require employees to remain employed by Apple or its subsidiaries throu
g
h each vestin
g
date in order to receive the shares.
Previously, if an employee with outstanding time-based RSUs died or terminated employment due to disability, only a pro-rata portion
of the RSUs related to the next vesting date would have vested. The remaining unvested RSUs were cancelled. This pro-rata
calculation was based on the number of whole calendar months in the vesting period.
The Compensation Committee hereby amends your time-based RSUs to provide that all of your RSUs vest in full if you are employed
by Apple or its subsidiaries at the time of your death. In addition, if you terminate employment due to disability, the number of time-
based RSUs that vest will be calculated based on the number of days you were employed by Apple or its subsidiaries, not the numbe
r
of whole calendar months, in the applicable vestin
g
period. This revised calculation will typically result in the vestin
g
of additional RSUs
upon a termination of employment due to disability.
To: Holders of Restricted Stock Unit Awards Granted by Apple Inc.
From: Apple Stock
Date: August 26, 2014
Re: Amendment of Awards – Acceleration on Death; Disability Calculation