Trim fat from chicken. Combine flour, sage, nutmeg, salt and pepper. Dredge chicken in this mixture and set aside.
Heat oil in large skillet over medium-high heat until hot. Add chicken, cook 6 to 7 minutes on each side or until browned. Add vermouth and bell pepper. Reduce heat and simmer 5 minutes or until chicken is tender.
Transfer chicken to platter, spoon sauce over chicken and garnish with sage sprigs.