$5 Million to Cover For Steve Jobs

[Michael Essany]

It's been revealed just how large of a bonus Apple COO Timothy D Cook received while filling in for Steve Jobs as acting Apple chief during Job's medical leave last year. According to published reports, a cash bonus totaling $5 million was bestowed upon Cook for what Apple executives recognized as an "outstanding performance" in Jobs' absence.

According to a statement from Apple:

A one-time discretionary bonus of 5,000,000 and 75,000 restricted stock units in recognition of his outstanding performance in assuming the day-to-day operations of the company for the period in fiscal 2009 during which Jobs was on medical leave of absence.

Nice work if you can get it, huh?

Widely believed to be a potential replacement for Steve Jobs one day in the future (should Jobs leave or be sidelined for medical purposes again) Timothy Cook is a well-liked man in Cupertino who is said to command a great deal of respect and admiration from his colleagues. Last year's fill-in duty by Cook was not the first time Apple's COO covered for the CEO. Six years ago Cook similarly took the big boy's chair as acting CEO for a month while Jobs underwent surgery to remove a malignant pancreas tumor.

Nonetheless, the bonus from Apple represents an enormous bump-up in compensation for Cook, who, in 2009, received an $800,400 salary with another $800,000 in "nonstock incentive compensation." That package came along with a small company match to his retirement account as well as life insurance premiums and "cash for unused vacation days."

Image via AP

[battlecrushr]

wow ha

[awesomeSlayer]

Wow! I wish I had that kind of money!

[StealthBravo]

He deserves it. Nice

[Melech518]

I think we should split it...I think I deserve some

[Kyle Matthews]

You go, Tim.

[wolverinemarky]

Cook did a pretty good job but 5 million wow I think I could handle covering for Tim Cook wonder how much that pays lol

[pyromcr]

omg, thats alot of money!

[1shuttle1]

He should take the 5 mil and hire a hit man. Then it could all be his. I'm just saying.

[ukoda]

I'm not greedy, I would have done the job for only $1M ;-)

[PhrequenC]

retarded amount of money for noting.

[chris102192]

All i can say is thats legit!!! hahaha

[steve-z17]

Tim's the man, he probably doesn't care too much about the money, just advancing Apple forward

[boxxa]

All I can think about is that photo of Jobs is just begging to be photoshopped.

[KartRacer]

Not trying to say he doesn't deserve it because he does, but as a Marine Sergeant I made a whopping 13k in 2006. Now I pay 26% of my pay in taxes making just under 40k, AND the Federal Government seems to think I haven't paid enough in taxes already this year so I owe. The making 'Making work pay' credit is so nice, I got back the taxes I pay for one week of the year (thanks alot Obama). I lose $235 a week to ******** taxes/Medicare/Medicade/SocialSecurity and I'll never even have the chance to use those failed programs. I hate this government.

[boxxa]

Not trying to say he doesn't deserve it because he does, but as a Marine Sergeant I made a whopping 13k in 2006. Now I pay 26% of my pay in taxes making just under 40k, AND the Federal Government seems to think I haven't paid enough in taxes already this year so I owe. The making 'Making work pay' credit is so nice, I got back the taxes I pay for one week of the year (thanks alot Obama). I lose $235 a week to ******** taxes/Medicare/Medicade/SocialSecurity and I'll never even have the chance to use those failed programs. I hate this government.

Are you really comparing yourself to Tim Cook just becuase you are in the military? :lol:

This article should be a lesson.... be highly skilled at something that only a hand full of people can do in the world nets you a nice bonus.... do something "unskilled" that there is already hundreds of thousands of people doing.... get paid ****. If you were someone who could stand in as the US Defense Secretary if Obama needed one, then you may have a comparison but being an enlisted, you obviously missed that boat.

[PlatoTheForms]

honestly, I didn't notice any difference from the time that steve was gone. although I was worried about Apple's future of coming up with innovative devices...because...as we all know...Steve is solely responsible for brainstorming all the ideas that actually get manufactured.

[KartRacer]

Are you really comparing yourself to Tim Cook just becuase you are in the military? :lol:

This article should be a lesson.... be highly skilled at something that only a hand full of people can do in the world nets you a nice bonus.... do something "unskilled" that there is already hundreds of thousands of people doing.... get paid ****. If you were someone who could stand in as the US Defense Secretary if Obama needed one, then you may have a comparison but being an enlisted, you obviously missed that boat.

Being in the military as enlisted doesn't mean you are stupid or unskilled. You seem to be stupid though. How many people are you directly responsible for? How many people depend on your for thier life being protected? I had 5 Marines that I was directly responsible for and 14 $40 million aircraft that were in my charge. I was also responsible for 28 ejection seats, the things that save peoples lives, on those aircraft and all the maintenance and paperwork that goes with it. If that's 'unskilled' I'd like to know what the **** you consider 'skilled'. Being put in a temporary position to monitor what many many people are in charge of and basically going with the flow? Please, it's not that hard. Anyone can be a manager with the right teaching and experience, and it's not what you know it's who you know. Being a CEO is more politics than being a good businessman. But you've probably never been in charge of anything other than a fryer or you work in a cubicle doing crap work for a faceless entity.

I wasn't comparing the two of us directly, I was just saying what someone who does a really hard and physically demanding job gets paid in relation to someone who makes computers and probably didn't have a whole lot of hands on direction during his time filling in. The days of one person running a company by themselves is over. You're a moron if you think someone that's enlisted is an unskilled knuckle-dragger. I feel sorry for how dumb you really are if you can't see what I was getting at. Go back to sucking your moms teet before you talk about the real world. You should take this as a lesson, get a job that doesn't require ***-kissing and learn what real labor is.

And the secretary of 'Defense' isn't doing his job, neither is Obama, and neither did Bush and the previous 15 presidents. They've started wars around the world for money and power and I'm ashamed I participated, after the fact I learned what a mistake it was. So yeah, I CAN do his job. Keep our noses out of where it doesn't belong. Doesn't seem to be that hard.