Cook Gets $5 Million to Fill in for Jobs

Modmyi is reporting today, that Timothy Cook, the guy who covered for Steve Jobs, while he was on medical leave, received a $5 million dollar bonus to take the reigns of Apple for fiscal 2009. These were definitely some big shoes to fill, but it seems the company was very happy with the way Tim handled himself in the position.

Timothy Cook is currently the COO of Apple computers, and is thought to be Steve Job’s replacement, were Steve to ever leave the company. Tim definitely kept the company going while Steve was away, overseeing the launching of the iPhone 3GS, the new iPod Nano with Video, and Mac OS X Snow Leopard.

Timothy Cook on the left, with Steve Jobs, on the right.

Apple had this to say:

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.

This is quite an increase from Tim’s typical salary, which is less then $1 million, plus incentives. Still nothing to laugh at, though! I’m ecstatic if I see more than 4 digits in my bank account! 😉