Apple Sets Cap On Executive Bonus Pool

Apple has set a maximum bonus pool at US$6 million for eligible executives and other employees. The bonus pool cap was determined by Appleis compensation committee, and applies to all bonuses for fiscal 2006.

Bonuses will be based on two equally-weighted performance measures, relating to the company hitting certain levels of annual revenue, along with the operating margin. The payable bonus is equal to half of an employeeis annual base salary.

The information comes from an SEC filing, and specifies all of Appleis executive officers, and unnamed key employees, as bonus plan participants. The companyis chief executive, however, is exempt.