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Claim Your Free Copy of Overtime Primer: Highlights from the New Regulations

The federal DOL overtime regulations go into effect this year. Are you ready?


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This report includes a summary of key changes, including the salary level test and salary basis test.

As a bonus, we've included a handy flowchart to help you determine exemption status under the FLSA.

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March 16, 2004
Jobs's Salary Takes Nibble out of Apple


Apple Computer Corp. paid chief executive Steve Jobs $1 in salary and no bonus in 2003, Reuters reports.

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The information was included in the companies filing with the Securities and Exchange Commission. Jobs has received a $1 salary since 1998, a year after returning to the company he helped found.

The company did grant Jobs $74.75 million in restricted stock in exchange for the cancellation of his 27.5 million stock options, according to Reuters.

Reuters notes that while Jobs's salary has remained at only $1, other perks given to Jobs since his return, such as a $90 million airplane and stock options, have made the chief executive a target of criticism.

Jobs received no stock options in 2003.

Link

Reuters article, via CNN.com


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