{"id":40274,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/pro-forma-restricted-stock-unit-award-agreement-apple-inc.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"pro-forma-restricted-stock-unit-award-agreement-apple-inc","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/pro-forma-restricted-stock-unit-award-agreement-apple-inc.html","title":{"rendered":"Pro Forma Restricted Stock Unit Award Agreement &#8211; Apple Inc."},"content":{"rendered":"<p align=\"center\"><strong>APPLE INC. <\/strong><\/p>\n<p align=\"center\"><strong>2003 EMPLOYEE STOCK PLAN <\/strong><\/p>\n<p align=\"center\"><strong>RESTRICTED STOCK UNIT AWARD AGREEMENT <\/strong><\/p>\n<p align=\"center\"><strong>NOTICE OF GRANT <\/strong><\/p>\n<\/p>\n<table align=\"center\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"31%\"><\/td>\n<td width=\"1%\" valign=\"bottom\"><\/td>\n<td width=\"27%\"><\/td>\n<td width=\"1%\" valign=\"bottom\"><\/td>\n<td width=\"25%\"><\/td>\n<td width=\"1%\" valign=\"bottom\"><\/td>\n<td width=\"14%\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">\n<p>Name:<\/p>\n<\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\">\n<\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\">\n<p>(the &#8220;Participant&#8221;)<\/p>\n<\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td colspan=\"2\"><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">\n<p>Employee ID:<\/p>\n<\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\">\n<\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td colspan=\"2\"><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">\n<p>Grant Number:<\/p>\n<\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\">\n<\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td colspan=\"2\"><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">\n<p>No. of Units Subject to Award:<\/p>\n<\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\">\n<\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td colspan=\"2\"><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">\n<p>Award Date:<\/p>\n<\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\">\n<\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\">\n<p>(the &#8220;Award Date&#8221;)<\/p>\n<\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td colspan=\"6\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">\n<p>Vesting Commencement Date:<\/p>\n<\/td>\n<td valign=\"bottom\"><\/td>\n<td colspan=\"5\" valign=\"bottom\">\n<p>The first day after the Award Date that is the 15<sup>th<\/sup> day of a<br \/>\ncalendar month.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td colspan=\"2\"><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">\n<p>Vesting Schedule:<\/p>\n<\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\">\n<p>[<u> <\/u>]<\/p>\n<\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>This restricted stock unit award (the &#8220;Award&#8221;) is granted under and governed<br \/>\nby the terms and conditions of the Apple Inc. 2003 Employee Stock Plan and the<br \/>\nTerms and Conditions of Restricted Stock Unit Award, which are attached hereto<br \/>\nand incorporated herein by reference.<\/p>\n<p>You do not have to accept the Award. If you wish to decline your Award, you<br \/>\nshould promptly notify Apple Inc.&#8217;s Human Resources Equity Group of your<br \/>\ndecision in writing at 1 Infinite Loop MS: 84-CO, Cupertino CA 95014. If you do<br \/>\nnot provide such written notification within thirty (30) days after the Award<br \/>\nDate, you will be deemed to have accepted your Award on the terms and conditions<br \/>\nset forth herein.<\/p>\n<hr>\n<p align=\"center\"><strong>TERMS AND CONDITIONS OF RESTRICTED STOCK UNIT AWARD<br \/>\n<\/strong><\/p>\n<p><strong>1. <u>General<\/u><\/strong>. These Terms and Conditions of Restricted<br \/>\nStock Unit Award (these &#8220;<strong>Terms<\/strong>&#8220;) apply to a particular<br \/>\nrestricted stock unit award (the &#8220;<strong>Award<\/strong>&#8220;) granted by Apple<br \/>\nInc., a California corporation (the &#8220;<strong>Company<\/strong>&#8220;), and are<br \/>\nincorporated by reference in the Notice of Grant (the &#8220;<strong>Grant<br \/>\nNotice<\/strong>&#8220;) corresponding to that particular grant. The recipient of the<br \/>\nAward identified in the Grant Notice is referred to as the<br \/>\n&#8220;<strong>Participant<\/strong>.&#8221; The effective date of grant of the Award as set<br \/>\nforth in the Grant Notice is referred to as the &#8220;<strong>Award Date<\/strong>.&#8221;<br \/>\nThe Award was granted under and is subject to the provisions of the Apple Inc.<br \/>\n2003 Employee Stock Plan (the &#8220;<strong>Plan<\/strong>&#8220;). Capitalized terms are<br \/>\ndefined in the Plan if not defined herein. The Award has been granted to the<br \/>\nParticipant in addition to, and not in lieu of, any other form of compensation<br \/>\notherwise payable or to be paid to the Participant. The Grant Notice and these<br \/>\nTerms are collectively referred to as the &#8220;<strong>Award Agreement<\/strong>&#8221;<br \/>\napplicable to the Award.<\/p>\n<p><strong>2. <u>Stock Units<\/u><\/strong>. As used herein, the term<br \/>\n&#8220;<strong>Stock Unit<\/strong>&#8221; shall mean a non-voting unit of measurement which<br \/>\nis deemed for bookkeeping purposes to be equivalent to one outstanding share of<br \/>\nthe Company&#8217;s Common Stock (&#8220;<strong>Share<\/strong>&#8220;) solely for purposes of the<br \/>\nPlan and this Award Agreement. The Stock Units shall be used solely as a device<br \/>\nfor the determination of the payment to eventually be made to the Participant if<br \/>\nsuch Stock Units vest pursuant to this Award Agreement. The Stock Units shall<br \/>\nnot be treated as property or as a trust fund of any kind.<\/p>\n<p><strong>3. <u>Vesting<\/u><\/strong>. Subject to Section 8 below, the Award<br \/>\nshall vest and become nonforfeitable as set forth in the Grant Notice. (Each<br \/>\nvesting date set forth in the Grant Notice is referred to herein as a<br \/>\n&#8220;<strong>Vesting Date<\/strong>&#8220;).<\/p>\n<p><strong>4. <u>Continuance of Employment<\/u><\/strong>. The vesting schedule<br \/>\nrequires continued employment or service through each applicable Vesting Date as<br \/>\na condition to the vesting of the applicable installment of the Award and the<br \/>\nrights and benefits under this Award Agreement. Employment or service for only a<br \/>\nportion of the vesting period, even if a substantial portion, will not entitle<br \/>\nthe Participant to any proportionate vesting or avoid or mitigate a termination<br \/>\nof rights and benefits upon or following a termination of employment or services<br \/>\nas provided in Section 8 below or under the Plan.<\/p>\n<p>Nothing contained in this Award Agreement or the Plan constitutes an<br \/>\nemployment or service commitment by the Company, affects the Participant&#8217;s<br \/>\nstatus as an employee at will who is subject to termination with or without<br \/>\ncause, confers upon the Participant any right to remain employed by or in<br \/>\nservice to the Company or any Subsidiary, interferes in any way with the right<br \/>\nof the Company or any Subsidiary at any time to terminate such employment or<br \/>\nservices, or affects the right of the Company or any Subsidiary to increase or<br \/>\ndecrease the Participant&#8217;s other compensation or benefits. Nothing in this<br \/>\nparagraph, however, is intended to adversely affect any independent contractual<br \/>\nright of the Participant without his consent thereto.<\/p>\n<p><strong>5. <u>No Shareholder Rights<\/u><\/strong>. The Participant shall have<br \/>\nno rights as a shareholder of the Company, no dividend rights and no voting<br \/>\nrights with respect to the Stock Units or any Shares underlying or issuable in<br \/>\nrespect of such Stock Units until such Shares are actually issued to and held of<br \/>\nrecord by the Participant. No adjustments will be made for dividends or other<br \/>\nrights of a<\/p>\n<\/p>\n<p align=\"center\">1<\/p>\n<hr>\n<p>holder for which the record date is prior to the date of issuance of the<br \/>\nstock certificate evidencing such Shares.<\/p>\n<p><strong>6. <u>Restrictions on Transfer<\/u><\/strong>. Except as provided in<br \/>\nSection 4(c) of the Plan, neither the Award, nor any interest therein or amount<br \/>\nor Shares payable in respect thereof may be sold, assigned, transferred, pledged<br \/>\nor otherwise disposed of, alienated or encumbered, either voluntarily or<br \/>\ninvoluntarily.<\/p>\n<p><strong>7. <u>Timing and Manner of Payment of Stock Units<\/u><\/strong>. On or<br \/>\nas soon as administratively practical following each Vesting Date of the<br \/>\napplicable portion of the total Award pursuant to Section 3 or Section 8 (and in<br \/>\nall events not later than two and one-half (2 <sup> 1<\/sup>\/2) months after such<br \/>\nvesting event), the Company shall deliver to the Participant a number of Shares<br \/>\n(either by delivering one or more certificates for such Shares or by entering<br \/>\nsuch Shares in book entry form, as determined by the Company in its discretion)<br \/>\nequal to the number of Stock Units subject to this Award that vest on the<br \/>\napplicable Vesting Date, less Tax-Related Items (as defined in Section 11<br \/>\nbelow), unless such Stock Units terminate prior to the given Vesting Date<br \/>\npursuant to Section 8. The Company&#8217;s obligation to deliver Shares or otherwise<br \/>\nmake payment with respect to vested Stock Units is subject to the condition<br \/>\nprecedent that the Participant or other person entitled under the Plan to<br \/>\nreceive any Shares with respect to the vested Stock Units deliver to the Company<br \/>\nany representations or other documents or assurances required pursuant to<br \/>\nSection 13(c) of the Plan. The Participant shall have no further rights with<br \/>\nrespect to any Stock Units that are paid or that terminate pursuant to Section<br \/>\n8.<\/p>\n<p><strong>8. <u>Effect of Termination of Employment<\/u><\/strong>. The<br \/>\nParticipant&#8217;s Stock Units shall terminate to the extent such units have not<br \/>\nbecome vested prior to the first date the Participant is no longer employed by<br \/>\nor providing services to the Company or one of its Subsidiaries (the<br \/>\n&#8220;<strong>Severance Date<\/strong>&#8220;), regardless of the reason for the termination<br \/>\nof the Participant&#8217;s employment with the Company or a Subsidiary, whether with<br \/>\nor without cause, voluntarily or involuntarily; provided, however, that in the<br \/>\nevent such termination of employment is due to the Participant&#8217;s death or<br \/>\nDisability, (a) the Award shall vest with respect to the number of Stock Units<br \/>\ndetermined by multiplying (i) the number of then-outstanding and unvested Stock<br \/>\nUnits subject to the Award that would have otherwise vested pursuant to Section<br \/>\n3 on the next Vesting Date following the Severance Date but for such termination<br \/>\nof employment, by (ii) a fraction, the numerator of which shall be the number of<br \/>\nwhole calendar months that have elapsed between the Vesting Date that<br \/>\nimmediately preceded the Severance Date (or, in the case of a termination prior<br \/>\nto the initial Vesting Date, the Vesting Commencement Date) and the Severance<br \/>\nDate, and the denominator of which shall be the number of whole calendar months<br \/>\nbetween the Vesting Date that immediately preceded the Severance Date (or, in<br \/>\nthe case of a termination prior to the initial Vesting Date, the Vesting<br \/>\nCommencement Date) and the next Vesting Date following the Severance Date that<br \/>\nwould have occurred but for such termination of employment; and (b) any Stock<br \/>\nUnits that are not vested after giving effect to the foregoing clause (a) shall<br \/>\nterminate. If any unvested Stock Units are terminated hereunder, such Stock<br \/>\nUnits shall automatically terminate and be cancelled as of the applicable<br \/>\nSeverance Date without payment of any consideration by the Company and without<br \/>\nany other action by the Participant, or the Participant&#8217;s beneficiary or<br \/>\npersonal representative, as the case may be.<\/p>\n<\/p>\n<p align=\"center\">2<\/p>\n<hr>\n<p><strong>9. <u>Recoupment<\/u><\/strong>. Notwithstanding any other provision<br \/>\nherein, the Award and any Shares or other amount or property that may be issued,<br \/>\ndelivered or paid in respect of the Award, as well as any consideration that may<br \/>\nbe received in respect of a sale or other disposition of any such Shares or<br \/>\nproperty, shall be subject to any recoupment, &#8220;clawback&#8221; or similar provisions<br \/>\nof applicable law, as well as any recoupment or &#8220;clawback&#8221; policies of the<br \/>\nCompany that may be in effect from time to time. In addition, the Company may<br \/>\nrequire the Participant to deliver or otherwise repay to the Company the Award<br \/>\nand any Shares or other amount or property that may be issued, delivered or paid<br \/>\nin respect of the Award, as well as any consideration that may be received in<br \/>\nrespect of a sale or other disposition of any such Shares or property, if the<br \/>\nCompany reasonably determines that one or more of the following has occurred:\n<\/p>\n<table style=\"border-collapse: collapse;\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"7%\"><\/td>\n<td width=\"7%\" valign=\"top\">\n<p>(a)<\/p>\n<\/td>\n<td valign=\"top\">\n<p>during the period of the Participant&#8217;s employment or service with the Company<br \/>\nor any of its Subsidiaries (the &#8220;<strong>Employment Period<\/strong>&#8220;), the<br \/>\nParticipant has committed a felony (under the laws of the United States or any<br \/>\nrelevant state, or a similar crime or offense under the applicable laws of any<br \/>\nrelevant foreign jurisdiction);<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"border-collapse: collapse;\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"7%\"><\/td>\n<td width=\"7%\" valign=\"top\">\n<p>(b)<\/p>\n<\/td>\n<td valign=\"top\">\n<p>during the Employment Period or at any time thereafter, the Participant has<br \/>\ncommitted or engaged in a breach of confidentiality, or an unauthorized<br \/>\ndisclosure or use of inside information, customer lists, trade secrets or other<br \/>\nconfidential information of the Company or any of its Subsidiaries;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"border-collapse: collapse;\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"7%\"><\/td>\n<td width=\"7%\" valign=\"top\">\n<p>(c)<\/p>\n<\/td>\n<td valign=\"top\">\n<p>during the Employment Period or at any time thereafter, the Participant has<br \/>\ncommitted or engaged in an act of theft, embezzlement or fraud, or materially<br \/>\nbreached any agreement to which the Participant is a party with the Company or<br \/>\nany of its Subsidiaries.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>10. <u>Adjustments Upon Specified Events<\/u><\/strong>. Upon the<br \/>\noccurrence of certain events relating to the Company&#8217;s stock contemplated by<br \/>\nSection 11 of the Plan (including, without limitation, an extraordinary cash<br \/>\ndividend on such stock), the Committee shall make adjustments in accordance with<br \/>\nsuch section in the number of Stock Units then outstanding and the number and<br \/>\nkind of securities that may be issued in respect of the Award.<\/p>\n<p><strong>11. <u>Responsibility for Taxes<\/u><\/strong>. Regardless of any<br \/>\naction the Company and\/or the Participant&#8217;s employer (the<br \/>\n&#8220;<strong>Employer<\/strong>&#8220;) take with respect to any or all income tax<br \/>\n(including U.S. federal, state and local tax and\/or non-U.S. tax), social<br \/>\ninsurance, payroll tax, payment on account or other tax-related items related to<br \/>\nthe Participant&#8217;s participation in the Plan and legally applicable to the<br \/>\nParticipant or deemed by the Company or the Employer to be an appropriate charge<br \/>\nto the Participant even if technically due by the Company or the Employer<br \/>\n(&#8220;<strong>Tax-Related Items<\/strong>&#8220;), the Participant acknowledges that the<br \/>\nultimate liability for all Tax-Related Items is and remains the Participant&#8217;s<br \/>\nresponsibility and may exceed the amount actually withheld by the Company or the<br \/>\nEmployer. The Participant further acknowledges that the Company and\/or the<br \/>\nEmployer (i) make no representations or undertakings regarding the treatment of<br \/>\nany Tax-Related Items in connection with any aspect of the Award, including the<br \/>\ngrant of the Stock Units, the vesting of the Stock Units, the delivery of<br \/>\nShares, the subsequent sale of any Shares acquired at vesting and the receipt of<br \/>\nany dividends and\/or dividend equivalents; and (ii) do not commit to and are<br \/>\nunder no obligation to structure the terms of the grant or any aspect of the<br \/>\nAward to<\/p>\n<\/p>\n<p align=\"center\">3<\/p>\n<hr>\n<p>reduce or eliminate the Participant&#8217;s liability for Tax-Related Items or<br \/>\nachieve any particular tax result. Further, if the Participant is or becomes<br \/>\nsubject to tax in more than one jurisdiction, the Participant acknowledges that<br \/>\nthe Company and\/or the Employer (or former employer, as applicable) may be<br \/>\nrequired to withhold or account for Tax-Related Items in more than one<br \/>\njurisdiction.<\/p>\n<p>Prior to the relevant taxable or tax withholding event, as applicable, the<br \/>\nParticipant shall pay or make arrangements satisfactory to the Company and\/or<br \/>\nthe Employer to satisfy all withholding and payment on account obligations of<br \/>\nthe Company and\/or the Employer. In this regard, the Participant authorizes the<br \/>\nCompany and\/or the Employer, at its discretion and pursuant to such procedures<br \/>\nas it may specify from time to time, to satisfy withholding and all other<br \/>\nobligations with regard to all Tax-Related Items legally payable by the<br \/>\nParticipant by one or a combination of the following:<\/p>\n<table style=\"border-collapse: collapse;\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"7%\"><\/td>\n<td width=\"7%\" valign=\"top\">\n<p>(a)<\/p>\n<\/td>\n<td valign=\"top\">\n<p>withholding from any wages or other cash compensation payable to the<br \/>\nParticipant by the Company and\/or the Employer;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"border-collapse: collapse;\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"7%\"><\/td>\n<td width=\"7%\" valign=\"top\">\n<p>(b)<\/p>\n<\/td>\n<td valign=\"top\">\n<p>withholding otherwise deliverable Shares to be issued upon vesting\/settlement<br \/>\nof the Award;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"border-collapse: collapse;\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"7%\"><\/td>\n<td width=\"7%\" valign=\"top\">\n<p>(c)<\/p>\n<\/td>\n<td valign=\"top\">\n<p>arranging for the sale of Shares otherwise deliverable to the Participant (on<br \/>\nthe Participant&#8217;s behalf and at the Participant&#8217;s direction pursuant to this<br \/>\nauthorization), including selling shares as part of a block trade with other<br \/>\nParticipants in the Plan; or<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"border-collapse: collapse;\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"7%\"><\/td>\n<td width=\"7%\" valign=\"top\">\n<p>(d)<\/p>\n<\/td>\n<td valign=\"top\">\n<p>withholding from the proceeds of the sale of Shares acquired upon<br \/>\nvesting\/settlement of the Award.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>To avoid negative accounting treatment, the Company may withhold or account<br \/>\nfor Tax-Related Items by considering applicable minimum statutory withholding<br \/>\namounts or other applicable withholding rates. If the obligation for Tax-Related<br \/>\nItems is satisfied by withholding a number of Shares as described herein, for<br \/>\ntax purposes, the Participant is deemed to have been issued the full number of<br \/>\nShares subject to the Award, notwithstanding that a number of the Shares are<br \/>\nheld back solely for the purpose of paying the Tax-Related Items due as a result<br \/>\nof any aspect of the Participant&#8217;s participation in the Plan. The Participant<br \/>\nshall pay to the Company and\/or the Employer any amount of Tax-Related Items<br \/>\nthat the Company and\/or the Employer may be required to withhold or account for<br \/>\nas a result of the Participant&#8217;s participation in the Plan that cannot be<br \/>\nsatisfied by the means previously described. The Company may refuse to deliver<br \/>\nto the Participant any Shares pursuant to the Participant&#8217;s Award if the<br \/>\nParticipant fails to comply with the Participant&#8217;s obligations in connection<br \/>\nwith the Tax-Related Items as described in this Section.<\/p>\n<p><strong>12. <u>Electronic Delivery and Acceptance<\/u><\/strong>. The Company<br \/>\nmay, in its sole discretion, deliver any documents related to the Award by<br \/>\nelectronic means or request the Participant&#8217;s consent to participate in the Plan<br \/>\nby electronic means. The Participant hereby consents to receive all applicable<br \/>\ndocumentation by electronic delivery and to participate in the Plan through<\/p>\n<\/p>\n<p align=\"center\">4<\/p>\n<hr>\n<p>an on-line (and\/or voice activated) system established and maintained by the<br \/>\nCompany or a third party vendor designated by the Company.<\/p>\n<p><strong>13. <u>Data Privacy<\/u><\/strong>. The Participant acknowledges and<br \/>\nconsents to the collection, use, processing and transfer of personal data as<br \/>\ndescribed in this Section 13. The Company, its related entities, and the<br \/>\nParticipant&#8217;s employer hold certain personal information about the Participant,<br \/>\nincluding the Participant&#8217;s name, home address and telephone number, date of<br \/>\nbirth, social security number or other employee identification number, salary,<br \/>\nnationality, job title, any Shares or directorships held in the Company, details<br \/>\nof all options or any other entitlement to Shares awarded, canceled, purchased,<br \/>\nvested, unvested or outstanding in the Participant&#8217;s favor, for the purpose of<br \/>\nmanaging and administering the Plan (&#8220;<strong>Data<\/strong>&#8220;). The Company and<br \/>\nits related entities may transfer Data amongst themselves as necessary for the<br \/>\npurpose of implementation, administration and management of the Participant&#8217;s<br \/>\nparticipation in the Plan, and the Company and its related entities may each<br \/>\nfurther transfer Data to any third parties assisting the Company or any such<br \/>\nrelated entity in the implementation, administration and management of the Plan.<br \/>\nThe Participant acknowledges that the transferors and transferees of such Data<br \/>\nmay be located anywhere in the world and hereby authorizes each of them to<br \/>\nreceive, possess, use, retain and transfer the Data, in electronic or other<br \/>\nform, for the purposes of implementing, administering and managing the<br \/>\nParticipant&#8217;s participation in the Plan, including any transfer of such Data as<br \/>\nmay be required for the administration of the Plan and\/or the subsequent holding<br \/>\nof Shares on the Participant&#8217;s behalf to a broker or to other third party with<br \/>\nwhom the Participant may elect to deposit any Shares acquired under the Plan<br \/>\n(whether pursuant to the Award or otherwise).<\/p>\n<p><strong>14. <u>Notices<\/u><\/strong>. Any notice to be given under the terms<br \/>\nof this Award Agreement shall be in writing and addressed to the Company at its<br \/>\nprincipal office to the attention of the Secretary, and to the Participant at<br \/>\nthe Participant&#8217;s last address reflected on the Company&#8217;s records, or at such<br \/>\nother address as either party may hereafter designate in writing to the other.<br \/>\nAny such notice shall be given only when received, but if the Participant is no<br \/>\nlonger an employee of the Company, shall be deemed to have been duly given by<br \/>\nthe Company when enclosed in a properly sealed envelope addressed as aforesaid,<br \/>\nregistered or certified, and deposited (postage and registry or certification<br \/>\nfee prepaid) in a post office or branch post office regularly maintained by the<br \/>\nUnited States Government.<\/p>\n<p><strong>15. <u>Plan<\/u><\/strong>. The Award and all rights of the Participant<br \/>\nunder this Award Agreement are subject to the terms and conditions of the<br \/>\nprovisions of the Plan, incorporated herein by reference. The Participant agrees<br \/>\nto be bound by the terms of the Plan and this Award Agreement. The Participant<br \/>\nacknowledges having read and understood the Plan, the Prospectus for the Plan,<br \/>\nand this Award Agreement. Unless otherwise expressly provided in other sections<br \/>\nof this Award Agreement, provisions of the Plan that confer discretionary<br \/>\nauthority on the Board or the Committee do not (and shall not be deemed to)<br \/>\ncreate any rights in the Participant unless such rights are expressly set forth<br \/>\nherein or are otherwise in the sole discretion of the Board or the Committee so<br \/>\nconferred by appropriate action of the Board or the Committee under the Plan<br \/>\n<u>after<\/u> the date hereof.<\/p>\n<p><strong>16. <u>Entire Agreement<\/u><\/strong>. This Award Agreement and the<br \/>\nPlan together constitute the entire agreement and supersede all prior<br \/>\nunderstandings and agreements, written or oral, of the parties hereto with<br \/>\nrespect to the subject matter hereof. The Plan and this Award Agreement<\/p>\n<\/p>\n<p align=\"center\">5<\/p>\n<hr>\n<p>may be amended pursuant to Section 15 of the Plan. Such amendment must be in<br \/>\nwriting and signed by the Company. The Company may, however, unilaterally waive<br \/>\nany provision hereof in writing to the extent such waiver does not adversely<br \/>\naffect the interests of the Participant hereunder, but no such waiver shall<br \/>\noperate as or be construed to be a subsequent waiver of the same provision or a<br \/>\nwaiver of any other provision hereof.<\/p>\n<p><strong>17. <u>Limitation on the Participant&#8217;s Rights<\/u>.<br \/>\n<\/strong>Participation in the Plan confers no rights or interests other than as<br \/>\nherein provided. This Award Agreement creates only a contractual obligation on<br \/>\nthe part of the Company as to amounts payable and shall not be construed as<br \/>\ncreating a trust. Neither the Plan nor any underlying program, in and of itself,<br \/>\nhas any assets. The Participant shall have only the rights of a general<br \/>\nunsecured creditor of the Company with respect to amounts credited and benefits<br \/>\npayable, if any, with respect to the Stock Units, and rights no greater than the<br \/>\nright to receive the Common Stock as a general unsecured creditor with respect<br \/>\nto Stock Units, as and when payable hereunder.<\/p>\n<p><strong>18. <u>Counterparts<\/u><\/strong>. This Award Agreement may be<br \/>\nexecuted simultaneously in any number of counterparts, each of which shall be<br \/>\ndeemed an original but all of which together shall constitute one and the same<br \/>\ninstrument.<\/p>\n<p><strong>19. <u>Section Headings<\/u><\/strong>. The section headings of this<br \/>\nAward Agreement are for convenience of reference only and shall not be deemed to<br \/>\nalter or affect any provision hereof.<\/p>\n<p><strong>20. <u>Governing Law and Choice of Venue<\/u><\/strong>. This Award<br \/>\nAgreement shall be governed by and construed and enforced in accordance with the<br \/>\nlaws of the State of California without regard to conflict of law principles<br \/>\nthereunder.<\/p>\n<p>For purposes of litigating any dispute that arises directly or indirectly<br \/>\nfrom the relationship of the parties evidenced by this grant or this Award<br \/>\nAgreement, the parties hereby submit to the exclusive jurisdiction of the State<br \/>\nof California and agree that such litigation shall be conducted only in the<br \/>\ncourts of Santa Clara County, California, or the federal courts for the Northern<br \/>\nDistrict of California, and no other courts, where this grant is made and\/or to<br \/>\nbe performed.<\/p>\n<p><strong>21. <u>Construction<\/u><\/strong>. It is intended that the terms of<br \/>\nthe Award will not result in the imposition of any tax liability pursuant to<br \/>\nSection 409A of the Code. This Award Agreement shall be construed and<br \/>\ninterpreted consistent with that intent.<\/p>\n<p><strong>22. <u>Severability<\/u><\/strong>. The provisions of this Award<br \/>\nAgreement are severable and if any one of more provisions are determined to be<br \/>\nillegal or otherwise unenforceable, in whole or in part, the remaining<br \/>\nprovisions shall nevertheless be binding and enforceable.<\/p>\n<p><strong>23. <u>Imposition of Other Requirements<\/u><\/strong>. The Company<br \/>\nreserves the right to impose other requirements on the Participant&#8217;s<br \/>\nparticipation in the Plan, on the Stock Units and on any Shares acquired under<br \/>\nthe Plan, to the extent the Company determines it is necessary or advisable in<br \/>\norder to comply with local law or facilitate the administration of the Plan, and<br \/>\nto require the Participant to sign any additional agreements or undertakings<br \/>\nthat may be necessary to accomplish the foregoing.<\/p>\n<\/p>\n<p align=\"center\">6<\/p>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[6722],"corporate_contracts_industries":[9508],"corporate_contracts_types":[9539,9545],"class_list":["post-40274","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-apple-computer-inc","corporate_contracts_industries-technology__hardware","corporate_contracts_types-compensation","corporate_contracts_types-compensation__esp"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/40274","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=40274"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40274"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40274"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}