$5 Million to Cover For Steve Jobs

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:

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