Agreement dated October 8, 2009 between Starbucks Corporation and Kalen Holmes



 EXHIBIT 10.32 
 October 8, 2009 
 Kalen Holmes 

2027
32nd Ave S 

Seattle, WA 98114 
 Dear Kalen, 

Congratulations! It is with great pleasure that I confirm your offer of employment for the position of executive vice president, Partner Resources at
Starbucks Coffee Company. I look forward to your first day on a mutually agreed upon date, on or around November 16, 2009. 
 Here Are
The Specifics Of Your Offer: 
 You will be paid at a base salary that annualizes to $400,000.00. 

Sign-On Bonus 
 You will receive a
one-time sign-on bonus of $200,000 less payroll taxes which will be paid on the first regularly scheduled pay date following 30 days of employment. Your sign-on bonus is not eligible pay for purposes of making contributions into Starbucks savings
plans. 
 Please note, should you voluntarily leave Starbucks during your first year of employment, you will be responsible for reimbursing
Starbucks for a pro-rata gross share (n/12 based on number of months worked) of the one-time sign-on bonus you received. By accepting this position, you expressly authorize Starbucks to deduct any or all of any bonus reimbursement from any final
compensation owed to you. If the amount due exceeds that withheld from your final pay, then you agree to pay the balance within 30 days after the effective termination date of employment with Starbucks. 

Stock 
 You will be granted:
(i) stock options to purchase shares of Starbucks common stock with an economic value of $1,050,000 (USD) and (ii) restricted stock units with an economic value of $750,000 (USD), under the Key Employee Sub-Plan to the 2005 Long-Term
Equity Incentive Plan, subject to approval by the Compensation and Management Development Committee of the Board of Directors or its designee. The stock options will be non-qualified with an exercise price equal to the regular trading session
closing price of a share of Starbucks stock on the date of grant. The options will vest in equal installments over a period of four (4) years, beginning on the first anniversary date of the grant, subject to your continued employment. The
restricted stock units will also vest in equal installments over a period of four (4) years, beginning on the first anniversary date of the grant, subject to your continued employment. The grant date of your equity award will be after you
assume your new position and otherwise effective in accordance with the Company’s equity grant timing policy. 
 As a senior executive the
Company’s executive stock ownership guidelines will apply to you. The guidelines require covered executives to achieve a minimum investment in Starbucks stock within five years. The minimum investment for an executive vice president is
$750,000. A copy of the guidelines will be provided to you. 
 Executive Management Bonus Plan 

You will be eligible to participate in the Executive Management Bonus Plan (EMBP) starting in fiscal year 2010 provided that you remain in an eligible job
for a minimum of three complete consecutive fiscal months. Your incentive target will be 65% of your eligible base salary. 
 Payout will be
based on achievement of Company, business unit/department, and individual objectives. For more information about the Executive Management Bonus Plan, or a copy of the plan document, please talk with your Partner Resources generalist, Maura Stevenson
at 206-318-7082. Starbucks reserves the right to review, change, amend, or cancel incentive plans at any time. 








 Kalen Holmes 
 Page 2 
  

 Management Deferred Compensation Plan 
 You may be eligible to participate in the Management Deferred Compensation Plan (MDCP) if you are on our U.S. payroll and meet the eligibility criteria. The MDCP is Starbucks non-qualified retirement plan
that provides eligible partners with the opportunity to save on a tax-deferred basis. If you are eligible, you will receive general information and enrollment materials at your home address as soon as administratively possible after your mutually
agreed upon start date on U.S. payroll. These materials will outline the limited window in which you will have an opportunity to enroll. If you have questions about the MDCP, please contact the Starbucks Savings Team at savings@starbucks.com.
Once eligible, you may also obtain more information about the MDCP online at www.netbenefits.fidelity.com. 
 Future Roast 401(k)
Savings Plan 
 You will be able to participate in the Future Roast 401(k) Savings Plan if you are on our U.S. payroll and meet the
eligibility requirements. The Future Roast 401(k) provides eligible partners with the opportunity to save on a tax-deferred basis. Two weeks prior to your eligibility date, you will receive general information and enrollment materials at your home
address. If you have questions about the Future Roast 401(k) Plan, please contact the Starbucks Savings Team at savings@starbucks.com. You may also obtain more information about the Future Roast 401(k) at http://LifeAt.sbux.com by
clicking on Pay, Stock & Savings and choosing the Future Roast 401(k) link. Once eligible, you may obtain more information about the Future Roast 401(k) online at www.netbenefits.fidelity.com. 

COBRA 
 Should you elect COBRA
(continuation of health coverage) from your previous employer, Starbucks will reimburse you for your COBRA premiums less applicable taxes until you become eligible for Starbucks benefits after the mandatory waiting period. Once you have signed
up for COBRA coverage (within the 60-day election period), submit proof of payment(s) to your Partner Resources contact for processing. The proof of payment must be submitted for reimbursement within 60 days of your Starbucks benefit
eligibility date. The reimbursement is classified as income by the federal government and is subject to all applicable payroll taxes and deductions. 
 Executive Life Insurance 
 As an executive, you and your family have a greater exposure to
financial loss resulting from your death. Starbucks recognizes this exposure and has provided for coverage greater than outlined in Your Special Blend. You will receive partner life coverage equal to three (3) times your annualized base
pay, paid for by Starbucks. You may purchase up to an additional two (2) times your annualized base pay (for a total of five (5) times pay) to a maximum life insurance benefit of $2,000,000. 

Executive Physical Exam 
 You are
eligible to participate in Starbucks executive physical program. Information about the program and our program provider will be emailed to you (new participants are notified at the beginning of each calendar quarter). The program provider will
contact you shortly thereafter to establish an appointment. If you have questions about this physical, please contact Kelley Hardin at 206-318-7756. 
 Benefits 
 An overview of Starbucks benefits, savings and stock programs can be found at
http://media.starbucks.com.edgesuite.net/dotcom/media/pdf/YSB_Guide_Mar_2009.pdf. If you have questions regarding these programs or eligibility, please call the Starbucks Partner Contact Center at 1 (877) SBUXBEN. Please note that
although it is Starbucks intent to continue these plans, they may be amended or terminated at anytime without notice. 








 Kalen Holmes 
 Page 3 
  

 Insider Trading 
 As an executive of the Company with access to sensitive business and financial information about the Company, you will be prohibited from trading Starbucks securities (or, in some circumstances, the
securities of companies doing business with Starbucks) from time to time in accordance with the Company’s Insider Trading Policy and Blackout Procedures. A copy of the policy will be provided to you your first day and you will be required to
sign a certificate indicating that you have read and understood the policy. 
 Coffee Hedging Policy 

As an officer of the Company, a member of the Coffee Management Group, or a partner involved in coffee procurement and trading on behalf of the Company,
you are prohibited from trading in coffee commodity futures for your own account. If you have further questions, please contact your Partner Resources generalist, Maura Stevenson at 206-318-7082. 

If you accept this offer it is contingent upon your satisfying the conditions of hire including: 

 

	 	•	 	 Starbucks standard Insider Trading/Confidentiality Policy and Procedure document and Confidentiality/Invention Agreement (All Employees)



  

	 	•	 	 Background check 


  

	 	•	 	 Non-Competition Agreement 



Your employment with Starbucks Coffee Company will be “at will,” meaning that either you or the Company will be entitled to terminate your
employment at any time and for any reason, not prohibited by law. 
 On behalf of the entire team, I am excited to welcome you to the team and
look forward to working with you. 
 Warm regards, 
  

	
	 /s/ Howard Schultz

	Howard Schultz
	chairman, president and chief executive officer

  

	cc:	partner file 

 Stock
Administration (S-HR3) 
 Olden Lee 
  

	Enc.	Non-Competition Agreement 


Coffee Hedging Agreement 
 COBRA FAQ Document 
 Background Inquiry Application 

2010 Health Plan Comparison Document 
 I accept employment with Starbucks Corporation, and its wholly-owned subsidiaries, according to the terms set forth above. 
  

			
	 /s/ Kalen Holmes
	    	 10-11-09

	Kalen Homes	    	Date

 Please fax this signed letter and your non-compete
agreement to Olden Lee at 206-903-2728, and send original documents at your convenience.