This excerpt taken from the GMCR DEF 14A filed Jan 28, 2008.
Directors who are also employees of the Company do not receive compensation for serving as directors. Directors who are not employees of the Company are paid a retainer and are reimbursed for ordinary and necessary travel expenses incurred in connection with attendance at each Board meeting. The annual retainer in
fiscal 2007 was $8,000. In fiscal 2007, each non-employee director earned $2,000 per meeting attended and $1,000 per committee meeting which is held on days other than board meeting dates in addition to the annual retainer. In addition, for fiscal 2007 the person holding the chairmanship of the audit committee in the first half of the year, Mr. Davis, received an annual retainer of $5,000. Annual retainers and meeting fees are unchanged in fiscal 2008. The Audit Committee chairperson received an annual retainer of $5,000 for fiscal 2008.
Ms. Carlini, Mr. Davis, and Ms. Miller have elected to participate in the Companys 2002 Deferred Compensation Plan. Mr. Davis is deferring receipt of his annual retainer and chairperson fee for calendar 2006 and 2007 (up to a maximum of $20,000 for 2007 fees). Ms. Carlini has elected to defer receipt of 100 percent of her board meetings and committee meeting fees for calendar 2006 and 2007. Ms. Miller has elected to defer receipt of 100 percent of her board meetings and committee meeting fees for calendar 2006 and 2007.