9 gigantic bonuses that make yours look like chump change

Seven-figure cash bonuses sweeten tech CEOs' pay packages

By , Network World |  IT Management, slideshow

Who: Apple COO Tim Cook 

Bonus amount: $5 million

Total 2010 compensation: $59.1 million

Company performance: Apple grew revenue and income by 52% and 70%, respectively, in its 2010 fiscal year ended Sept. 25. Revenue came in at $65.2 billion, up from $42.9 billion in 2009. Net income hit $14 billion, up from $8.2 billion.

Justification for bonus: After stepping in as CEO during Steve Jobs' 2009 medical leave of absence, Apple COO Tim Cook received a one-time $5 million cash bonus. "In awarding this bonus, the Compensation Committee considered Mr. Jobs's recommendation, the Company's strong financial performance in 2009, and the importance of Mr. Cook's ongoing contributions to, and retention by, the Company,"Apple said in its proxy statement.

Join us:
Facebook

Twitter

Pinterest

Tumblr

LinkedIn

Google+

Answers - Powered by ITworld

Join us:
Facebook

Twitter

Pinterest

Tumblr

LinkedIn

Google+

Ask a Question
randomness