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GMCR » Topics » Ms. Brooks, Mr. McCreary, Mr. Travis and Mr. Stiller

This excerpt taken from the GMCR DEF 14A filed Jan 28, 2008.

Ms. Brooks, Mr. McCreary, Mr. Travis and Mr. Stiller

Pursuant to employment offer letters, in the event that Ms. Brooks, Mr. McCreary or Mr. Travis’s employment is terminated by the Company for any reason other than willful misconduct or fraud, including a change of control, the Company is required to pay severance to such officer equal to one year’s salary payable over twelve-months. In addition, Mr. McCreary’s offer letter provides that in the event of an involuntary termination (except for willful misconduct) by the Company or upon a change of control any unvested portion of the 150,000 share option grant received at the time of his hire will immediately vest.

Mr. Stiller does not have any agreement which provides him with specific individual termination or change of control payments.

 

     Cash
Severance
Payments		    Acceleration
of Stock
Options		    Total
Termination
Payments

Kathryn S. Brooks

         

•       Termination by the Company for any reason other than willful misconduct or fraud

    $ 212,499      —        212,499

•       Termination by the Company for any reason other than willful misconduct or fraud upon a change of control

    $ 212,499    $ 613,761    $ 826,260

•       Change of Control

      —      $ 613,761    $ 613,761

R. Scott McCreary

         

•       Termination by the Company for any reason other than willful misconduct or fraud

    $ 258,981    $ 997,500    $ 1,256,481

•       Termination by the Company for any reason other than willful misconduct or fraud upon a change of control

    $ 258,981    $ 1,620,537    $ 1,879,518

•       Change of Control

      —      $ 1,620,537    $ 1,620,537

James Travis

         

•       Termination by the Company for any reason other than willful misconduct or fraud

    $ 222,691      —      $ 222,691

•       Termination by the Company for any reason other than willful misconduct or fraud upon a change of control

    $ 222,691    $ 950,087    $ 1,172,778

•       Change of Control

      —      $ 950,087    $ 950,087

Robert P. Stiller

         

•       Change of Control

      —      $ 4,597,045    $ 4,597,045
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