Steve Jobs deposition, page 66, March 18, 2009


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{jbv rc;]
Macworld concern voiced by her not existed. But 11:00:54
thats my guess.
BY[; C]

Q. And sort of in this framework of options
being, in part, a retention tool, is the idea to try 11:01:07
to get a lower price so that there is the potential
to maximize one's profits on the options?
A. You know, this has come up before. I have
to tell you, for these options to be worth anything,
the stock has to go up so much compared to a dollar 11:01:29
or two at the beginning that that's that the
strike price is only important for, you know, sort
of I don't know. The stock price has to go up a
lot relative to any deltas in strike price.
And so if these guys were going to realize 11:02:07
the kind of money they could make elsewhere by
staying at Apple, you know, they were going to have
to make tens of millions of dollars. These guys are
really senior guys. Several of them, you know,
could be CEOs of a few big companies and a few 11:02:22
medium-size companies.
So for them to realize that kind of a gain
here, it's a lot more than a small variation in a
strike price.
Q. All right. Let's move on to what's been 11:02:51



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