Apple to Pay Departing “Father of iPod” $300,000 Shut-Up Money Annually
Posted at 8:17 AM PT on November 5, 2008
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“Advisor” to Apple CEO Steve Jobs is a killer gig–if you can swing it. Just ask Tony Fadell. The now former senior vice president of the company’s iPod division will collect an annual salary of $300,000 until March 24, 2010, in his new role of Special Advisor to the CEO, according to Apple’s latest 10-K. He’ll also be entitled to bonus and health benefits. And be expected to keep his distance from Apple’s rivals. If he doesn’t, he can say goodbye to those 77,500 restricted Apple (AAPL) stock options set to vest in full in March of 2010. Silence is golden–in this case, golden handcuffs.
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