This excerpt taken from the AAPL DEF 14A filed Apr 16, 2007.
Oversight of compensation related disclosures. The Committee is responsible for overseeing the Companys executive compensation-related disclosures. The SEC issued new rules in August 2006 for executive compensation and related party disclosure. The new rules do not apply to this Proxy Statement, but they will be effective for Apples proxy statement for fiscal year 2007.