Don’t rub your eyes, it’s true. Apple CEO Tim Cook has a pay package worth $ 378 million. Of the total amount, $376.2 will be vested to Cook in the form of shares. Tim Cook whose base salary was deemed to be $900,000 in 2011 is believed to have received 1 million restricted shares from Apple in August that year. The decision to offer stock option compensation was offered by the Apple board after a meeting.

Art Levinson who now occupies the position of Chairman along with the Apple board members offered the stock options to be payable over a decade to ensure that Tim Cook remains loyal to Apple and does not chase other job prospects that come his way. It was revealed by the Apple Board that Steve Job who handed over the mantle to Tim Cook before his death had thrown light on the pay package to be given to Tim Cook.

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