Apple's Chief Operating Officer Timothy Cook will take away a cash-and-stock bonus worth about $22 million for filling in while Steve Jobs, was away from work on medical leave.

In a regulatory filing with the SEC on Friday, Apple informed that Cook will get $5 million in cash for his "outstanding contribution in rendering his services in day-to-day operations" and 75,000 restricted stock units, 50 per cent of which will vest on March 10, 2011, and the other 50 per cent a year later, which would amount to approximately $17 million.

Timothy Cook is touted as the successor to Steve Jobs, although the company has never disclosed any succession plan.

The bonus is widely viewed as a performance reward and is also to stay competitive. The bonus also comes at a time comes when Apple has launched one of its most important products in recent times - iPad tablet PC, which will be shipped on April 3.

Steve Jobs has been away since January 2009 on health grounds, although he remained involved in major strategic decisions.