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iBonuses

Phil Harvey
12/19/2005

5:55 PM -- It's iBonus time at Apple Inc. (Nasdaq: AAPL)

From this morning's regulatory pile, a Securities and Exchange Commission (SEC) filing snippet:

The target bonus payable under the Bonus Plan for fiscal year 2006 to Apple's executive officers, other than Apple's Chief Executive Officer, is equal to 50% of annual base salary. The maximum bonus payable is equal to 100% of annual base salary. The maximum bonus pool approved for all participants is approximately $6 million.

Apple's CEO, Steve Jobs, only made $1 in salary last year, but the company reimbursed him $483,000 for his expenses related to company business -- including the operation of his private plane.

— Phil Harvey, iCurious Editor, Light Reading

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