employment agreement

Apple Finally Files 8-K on the Resignation of Steve Jobs

Two days later:

On August 24, 2011:

  • Steve Jobs resigned as Chief Executive Officer of Apple Inc. (“Apple”). Mr. Jobs will continue to serve as an employee;
  • The Board of Directors (the “Board”) appointed Mr. Jobs as Chairman of the Board;
  • The Board promoted Chief Operating Officer Timothy D. Cook to Chief Executive Officer; and
  • The Board appointed Mr. Cook to the Board to fill an existing vacancy.

In connection with Mr. Cook’s appointment as Chief Executive Officer, the Board awarded Mr. Cook 1,000,000 restricted stock units. Fifty percent of the restricted stock units are scheduled to vest on each of August 24, 2016 and August 24, 2021, subject to Mr. Cook’s continued employment with Apple through each such date.

Here’s the Restricted Stock Award Agreement between Apple Inc. and Steve Jobs from March of 2003, which CNNMoney curiously failed to consider. The restricted stock grant to Steve Jobs was for 5,000,000 shares. At the $14.95 closing price on March 19, 2003, the grant was worth $74,750,000. The stock split 2:1 in February 2005. The 5,000,000 share grant is worth $3,835,800,000 today–that’s 3.8 billion. And, Steve earned every dollar of it.

mergers and acquisitions

Google Motorola Mobility Merger Agreement

The Merger Agreement between Google Inc. and Motorola Mobility Holdings, Inc. has raised the stakes in the iOS and Android battle for smartphone dominance. Will the acquisition prove as disastrous as the HP and Palm union? We will soon see if the Google only wanted the patents or whether it will be steaming full speed ahead in the hardware business.


Skullcandy Contracts

Skullcandy Inc. contracts from their Form S-1 Registration Statement. Featured contracts include an International Distribution Agreement between Skullcandy Inc. and 57 North AB.

Teavana Holdings Inc. contracts are available as well.