New York: Apple has awarded a cash bonus of $5 million to COO Timothy D Cook for his outstanding performance during the period when the software major's iconic chief Steve Jobs was on medical leave.
Cook would also receive 75,000 restricted stock units of the company in addition to the cash bonus.
The recommendation to award bonus and stocks was made by Jobs, Apple said in a filing to the US Securities and Exchange Commission.
Cook would be given "a one-time discretionary bonus of USD 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," Apple noted.
The proposal was approved by the company's Compensation Committee of the Board of Directors.
"Fifty per cent of the restricted stock units are scheduled to vest on each of on March 10, 2011 and March 10, 2012, subject to Cook's continued employment with the company through that date," the filing added.
In the first half of last year, Jobs went on medical leave and had a liver transplant.
Cook received a compensation of nearly $14 million in 2009. He joined the software major in 1998.
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