EXHIBIT 10.17

AMENDMENT TOEMPLOYMENT AGREEMENT

AMENDMENT TO EMPLOYMENT AGREEMENT (Amendment) dated as of
December 15, 2008 (Amendment Effective Date) among Krispy Kreme Doughnut
Corporation, a North Carolina Corporation (KKDC), Krispy Kreme Doughnuts,
Inc., a North Carolina Corporation (the Company and together with KKDC, the
Companies) and Steven A. Lineberger (the Executive).

WHEREAS, the Companies and the Executive are parties to an
Employment Agreement dated as of November 7, 2007 (the Agreement);

WHEREAS, the Companies and the Executive wish to amend the
Agreement as set forth herein in order to comply with Section 409A of the
Internal Revenue Code of 1986, as amended;

NOW, THEREFORE, in consideration of the mutual covenants
herein contained, the Companies and the Executive hereby agree as follows:

1.The definition of Change in Control in Section 1.01 of the Agreement is
amended by adding the following sentence to the end thereof:

provided,however, that an event will be treated as a Change in Control for purposes of
this Agreement only if it is also a change in control event (as defined in
Treas. Reg. Section 1.409A-3(i)(5)) with respect to the Company.

2.Section 5.03 is amended to read
in its entirety as follows:

Termination for Good Reason or Without
Cause.Except as otherwise set forth in
Section 5.09 below, if the Employment Period shall be terminated (a) by the
Executive for Good Reason, or (b) by the Companies not for Cause, provided the
Executive has executed, on or before the date that is fifty (50) days following
the date of his termination of employment, an irrevocable (except to the extent
required by law to be revocable) general release of claims in the form attached
hereto as Exhibit A, and does not revoke such release prior to the end of the
seven day statutory revocation period, the Executive shall be entitled solely to
the following: (i) Base Salary through the Date of Termination, paid on the
Companies normal payroll payment date; (ii) an amount equal to one times the
Base Salary, provided that, the Executive shall be entitled to any unpaid
amounts only if the Executive has not breached and does not breach the
provisions of Sections 6.01, 7.01, 8.01 or 9 below; (iii) a bonus for the year
of termination of employment equal to the Executives target annual bonus for
such year pro rated for the number of full months during the bonus year prior to
such termination of employment, to be paid, subject to Section 13.14 below, 60
days following such termination of employment; and (iv) medical benefits as
provided in Section 5.05 below. The Executives entitlements under any other
benefit plan or program shall be as determined thereunder, except that
duplicative severance benefits shall not be payable under any other plan or
program. Amounts described in clause (ii) above will be paid, subject to Section
13.14 below, intwelve (12) equal installments,
the first two (2) of which shall be paid on the date that is two (2) months
following the Date of Termination and the next ten (10) of which will be paid in
ten (10) equal monthly installments commencing on the date that is three (3)
months following the Date of Termination and continuing on each of the next nine
(9) monthly anniversaries of the Date of Termination. In addition, promptly
following any such termination, the Executive shall be reimbursed for all
Reimbursable Expenses incurred by the Executive prior to such termination.

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3.Section 5.07 is amended to
read in its entirety as follows:

Date of
Termination.Date of Termination shall mean (a) if
the Employment Period is terminated as a result of a Permanent Disability, five
days after a Notice of Termination is given, (b) if the Employment Period is
terminated as a result of his death, on the date of his death, (c) if the
Employment Period terminates due to expiration of the term of this Agreement,
the date the term expires, and (d) if the Employment Period is terminated for
any other reason, the later of the date of the Notice of Termination and the end
of any applicable correction period.

4.Section 5.09 of the Agreement shall be amended to read in its entirety as
follows:

Termination
for Good Reason or Without Cause Following a Change in Control.If the Employment Period shall be terminated within two years
after a Change in Control (a) by the Executive for Good Reason, or (b) by the
Companies not for Cause, then Executives compensation and benefits upon
termination shall be governed by this Section 5.09 instead of the provisions of
Section 5.03 above, and, provided the Executive has executed, on or before the
date that is fifty (50) days following the date of his termination of
employment, an irrevocable (except to the extent required by law to be
revocable) general release of claims in the form attached hereto as Exhibit A,
and does not revoke such release prior to the end of the seven day statutory
revocation period, the Executive shall be entitled solely to the following: (i)
Base Salary through the Date of Termination, paid on the Companies normal
payroll payment date; (ii) an amount equal to 1.25 times the sum of his Base
Salary and his target annual bonus for the year of termination, provided that,
the Executive shall be entitled to any unpaid amounts only if the Executive has
not breached and does not breach the provisions of Sections 6.01, 7.01, 8.01 or
9 below; (iii) a bonus for the year of termination of employment equal to the
Executives target annual bonus for such year pro rated for the number of full
months during the bonus year prior to such termination of employment; and (iv)
medical benefits as provided in Section 5.05. The Executives entitlements under
any other benefit plan or program shall be as determined thereunder, except that
duplicative severance benefits shall not be payable under any other plan or
program. In addition, promptly following any such termination, the Executive
shall be reimbursed for all Reimbursable Expenses incurred by the Executive
prior to such termination. The amounts due under clauses (ii) and (iii) of this
Section 5.09 shall be paid, subject to Section 13.14 below, 60 days following
such termination of employment.

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5.The fourth sentence of Section 9.01 shall be amended to read in its
entirety as follows:

Notwithstanding the foregoing, if the Executives termination of
employment occurs at the end of the Employment Period due to the Companies
giving written notice after the fifth anniversary of the Effective Date pursuant
to Section 5.01 of its intention not to extend the Employment Period, this
Section 9.01 will only apply if the Companies elect and agree in writing to pay
the Executive his Base Salary and his annual target bonus in effect for the year
during which his employment is terminated for an additional one-year period
following the termination of employment, such amount to be paid, subject to
Section 13.14 below, in twelve (12) equal installments, the first two (2) of
which shall be paid on the date that is two (2) months following the date of the
Executives separation from service with the Companies (as defined in Section
5.10 above) and the next ten (10) of which will be paid in ten (10) equal
monthly installments commencing on the date that is three (3) months following
such date and continuing on each of the next nine (9) monthly anniversaries of
such date;provided,however, that if such termination of employment is within two years after a
Change in Control, such amount shall instead be paid, subject to Section 13.14
below, 60 days following the Executives separation from service with the
Companies.

6.The Agreement shall be amended
by adding the following Section 12.05:

SECTION 12.05.
Anything in this Agreement to the contrary notwithstanding, in no event shall
any payment by the Company pursuant to this Article 12 be made later than the
end of the Executives taxable year next following the Executives taxable year
in which he remits the related taxes.

7.Section 13.01 shall be amended by adding the following to the end
thereof:

Following the
final determination of the dispute in which, based on the outcome of the
dispute, the Executive is, in accordance with this Section 13.01, entitled to
have his costs borne by the Companies, the Companies shall pay all such
reasonable costs within ten (10) days following written demand therefor
(supported by documentation of such costs) by the Executive, and the Executive
shall make such written demand within sixty (60) days following the final
determination of the dispute;provided,however, that such payment shall be
made no later than on or prior to the end of the calendar year following the
calendar year in which the costs are incurred. Notwithstanding the foregoing, in
the event a final determination of the dispute has not been made by December 20
of the year following the calendar year in which the costs are incurred, the
Companies shall, within ten (10) days after such December 20, reimburse such
reasonable costs (supported by documentation of such costs) incurred in the
prior taxable year;provided,however, that the Executive shall return such amounts to the
Companies within ten (10) business days following the final determination if (x)
in the case of an arbitration prior to a Change in Control, the Executive does
not prevail on a majority of the material issues in the dispute, or (y) in the
case of an arbitration after a Change in Control, the Executive does not prevail
on at least one material issue in the dispute. The amount of any costs eligible
forpayment under this Section 13.01 during a
calendar year will not affect the amount of any costs eligible for payment under
this Section 13.01 in any other taxable year.

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8.Section 13.14 of the Agreement shall be amended to read in its entirety
as follows:

(a) It is
intended that this Agreement will comply with Section 409A of the Internal
Revenue Code of 1986, as amended (the Code) and any regulations and guidelines
promulgated thereunder (collectively, Section 409A), to the extent the
Agreement is subject thereto, and the Agreement shall be interpreted on a basis
consistent with such intent. If an amendment of the Agreement is necessary in
order for it to comply with Section 409A, the parties hereto will negotiate in
good faith to amend the Agreement in a manner that preserves the original intent
of the parties to the extent reasonably possible. No action or failure to act
pursuant to this Section 13.14 shall subject the Companies to any claim,
liability, or expense, and the Companies shall not have any obligation to
indemnify or otherwise protect the Executive from the obligation to pay any
taxes, interest or penalties pursuant to Section 409A of the Code.

(b)
Notwithstanding any provision to the contrary in this Agreement, if the
Executive is deemed on the date of his separation from service (within the
meaning of Treas. Reg. Section 1.409A-1(h)) with the Companies to be a
specified employee (within the meaning of Treas. Reg. Section 1.409A-1(i)),
then with regard to any payment or benefit that is considered deferred
compensation under Section 409A payable on account of a separation from
service that is required to be delayed pursuant to Section 409A(a)(2)(B) of the
Code (after taking into account any applicable exceptions to such requirement),
such payment or benefit shall be made or provided on the date that is the
earlier of (i) the expiration of the six (6)-month period measured from the date
of the Executives separation from service, or (ii) the date of the
Executives death (the Delay Period). Upon the expiration of the Delay Period,
all payments and benefits delayed pursuant to this Section 13.14 (whether they
would have otherwise been payable in a single sum or in installments in the
absence of such delay) shall be paid or reimbursed to the Executive in a lump
sum and any remaining payments and benefits due under this Agreement shall be
paid or provided in accordance with the normal payment dates specified for them
herein. Notwithstanding any provision of this Agreement to the contrary, for
purposes of any provision of this Agreement providing for the payment of any
amounts or benefits upon or following a termination of employment, references to
Executives termination of employment (and corollary terms, including end of
the Employment Period) with the Companies shall be construed to refer to
Executives separation from service (within the meaning of Treas. Reg. Section
1.409A-1(h)) with the Companies.

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(c) With
respect to any reimbursement or in-kind benefit arrangements of the Companies
and its subsidiaries that constitute deferred compensation for purposes of
Section 409A, except as otherwise permitted by Section 409A, the following
conditions shall be applicable: (i) the amount eligible for reimbursement, or
in-kind benefits provided, under any such arrangement in one calendar year may
not affect the amount eligible for reimbursement, or in-kind benefits to be
provided, under such arrangement in any other calendar year (except that the
health and dental plans may impose a limit on the amount that may be reimbursed
or paid), (ii) any reimbursement must be made on or before the last day of the
calendar year following the calendar year in which the expense was incurred, and
(iii) the right to reimbursement or in-kind benefits is not subject to
liquidation or exchange for another benefit. Whenever a payment under this
Agreement specifies a payment period with reference to a number of days
(e.g.,
payment shall be made within thirty (30) days after termination of
employment), the actual date of payment within the specified period shall be
within the sole discretion of the Companies. Whenever payments under this
Agreement are to be made in installments, each such installment shall be deemed
to be a separate payment for purposes of Section 409A.

9.Except as set forth herein, the Agreement shall continue in full force
and effect in accordance with its terms.

10.All questions concerning the construction, validity and interpretation of
this Amendment and the Agreement shall be construed and governed in accordance
with the laws of the state of North Carolina, without regard to principles of
conflict of laws.

11.This Amendment may be executed simultaneously in two or more
counterparts, any one of which need not contain the signatures of more than one
party, but all of which counterparts taken together will constitute one and the
same agreement.

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IN WITNESS WHEREOF, the parties hereto have executed this
Amendment as of the date and year first above written.

| | KRISPY
      KREME DOUGHNUT CORPORATION
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| | By:                                    
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| | KRISPY
      KREME DOUGHNUTS, INC.     
| |                                        
| |                                        
| | By:                                    
| |                                        
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| |                                        

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