WASHINGTON ? Apple's chief operating officer Tim Cook is to receive a $5 million bonus for taking over the reins of the company while chief executive Steve Jobs was on medical leave last year.
In a filing Friday with the Securities and Exchange Commission (SEC), Apple said Jobs had recommended the bonus for Cook "in recognition of his outstanding performance in assuming the day-to-day operations of the company."
Cook, who took over while Jobs was away between January and June, was also awarded 75,000 shares of restricted stock.
Jobs, 55, who voluntarily restricts his own salary to just one dollar a year, received a liver transplant during his leave of absence last year. Jobs also underwent an operation for pancreatic cancer in 2004.
