Apple Ties Down Tim Cook For 10 Years With $383m Shares Deal

 

New Apple CEO Tim Cook is getting a hefty bonus for doing the job, but he'll have to stay for 10 years to collect all of it.

With his appointment, the Apple Board awarded him with 1,000,000 shares. At today's prices, that's worth $383m.

But he's going to have to wait to get it. The Board agreed that he can have access to half the shares in five years' time...and the other half in ten years time.

It's estimated that his predecessor, Steve Jobs, has amassed a wealth of $8bn during his time at Apple.

So, some way to go then, Tim.

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