Document:

Exhibit 10.32

ADDENDUM
TO STOCK OPTION AGREEMENTS

This ADDENDUM TO STOCK OPTION AGREEMENTS (this “Addendum”),
dated December ___, 2006, is entered into by and between BED BATH & BEYOND
INC. (the “Company”) and ________________________ (“you”).

WHEREAS, the
Company and you are parties to those certain Stock Option Agreements, listed on
the attached Schedule (each, an “Agreement,” and together, the “Agreements”)
under (as applicable) the Company’s 1992 Stock Option Plan, 1996 Stock Option
Plan, 1998 Stock Option Plan, 2000 Stock Option Plan, 2001 Stock Option Plan
and 2004 Incentive Compensation Plan (collectively, the “Plans”) pursuant to
which you were granted the right to purchase common stock of the Company, some
of which you have not exercised as of the date hereof and which were not vested
as of January 1, 2005 (the “Affected Options”);

WHEREAS, Section
409A of the Internal Revenue Code of 1986, as amended (“409A”) generally
provides that unless certain requirements are satisfied, amounts deferred under
a nonqualified deferred compensation plan are subject to income tax, an
additional 20% tax and possible penalty interest upon vesting of such amounts
and possibly beyond vesting;

WHEREAS, for
purposes of 409A, a stock option granted with an exercise price that has been
deemed to be less than the fair market value of the underlying common stock of
the Company on the date of grant (a “Discounted Stock Option”) and that has not
vested by January 1, 2005, is treated as deferred compensation subject to the
requirements of 409A;

WHEREAS,
Q&A-18(d) of Internal Revenue Service Notice 2005-1 (“Notice 2005-1”), as
modified by the proposed regulations under 409A and as further modified by
Internal Revenue Service Notice 2006-79 (“Notice 2006-79”) generally permits
the substitution of the exercise price of a Discounted Stock Option with a new
exercise price equal to fair market value (as defined under the applicable
Plan) of the Company’s common stock on the deemed date of grant, provided that
the substitution occurs on or before December 31, 2006 in certain instances
with respect to persons subject to the disclosure requirements of Section 16 of
the Securities Exchange Act of 1934, as amended (a “Section 16 Individual”) and
on or before December 31, 2007 with respect to persons who are not Section 16
Individuals;

WHEREAS,
Q&A-19(c) of Notice 2005-1, as modified by the proposed regulations under
409A and as further modified by Notice 2006-79, permits the amendment of a
stock option agreement to provide for new exercise timing elections with
respect to previously granted stock options and the election will not be
treated as a change in the form and timing of payment under Code Section
409A(a)(4) or an acceleration of a payment under Code Section 409A(a)(3),
provided that the participant makes the election on or before December 31, 2006
in certain instances with respect to a Section 16 Individual and on or before
December 31, 2007 with respect to persons who are not Section 16 Individuals;

WHEREAS,
the Affected Options have been deemed to be Discounted Stock Options subject to
409A;

          
WHEREAS, each of the Agreements provide for certain exercise rights more
particularly described in such Agreements;

WHEREAS, in order to comply
with 409A and recent interpretations of certain accounting and financial
reporting requirements and in order to avoid triggering adverse tax
consequences to you (including income tax, additional 20% tax and possible
penalty interest) in the event of non-compliance with 409A, it is necessary to
have you either: (i) select the calendar year for each tranche of each Affected
Option in which you shall exercise certain of your remaining unexercised
Affected Options, other than in the event of your termination of service; or
(ii) elect to increase the Affected Option exercise price with respect to
certain of your remaining

unexercised Affected Options, all as more particularly
described below; and

WHEREAS, the Compensation Committee of the Company’s
Board of Directors has authorized the entering into of this Addendum.

NOW THEREFORE, in consideration of the foregoing,
the parties agree as follows:

1.               Election. 
Notwithstanding any other provision of the Agreements, you agree that,
if you so elect in the exhibit attached hereto, you shall exercise certain of your
Affected Options in accordance with either the (i) exercise dates designated by
you, or (ii) substituted exercise prices, each as set forth in this Addendum
and the exhibit attached hereto.

2.               Impact of Failure to Make
Election.  In the event you elect to exercise certain of
your Affected Options in certain specified calendar years in accordance with
your election set forth on the exhibit attached hereto, your failure to
actually exercise your Affected Options in accordance with the time periods
described herein will result in the cancellation and forfeiture of your
Affected Options and the Company will have no obligation to pay any amounts to
you (or your beneficiaries) with respect to such forfeited Affected
Options.  In the event you do not elect
either of the foregoing choices (i.e., either to elect specified exercise dates
or substituted prices with respect to Affected Options), then you acknowledge
that you shall be responsible for any excise or other tax or penalty imposed as
a result of your failure to revise the Agreements as provided herein.  Without limiting the generality of the
foregoing, you acknowledge that in the event that you fail to elect either of
the above choices, you will be subject to income tax, an additional 20% tax and
possible penalty interest upon the vesting of each such Affected Options and
possibly beyond.

3.               Election Procedure. 
Attached as an exhibit to this Addendum and incorporated herein is a
Calendar Year Designation Document (a “CYDD”) listing each of the Agreements.  The CYDD reflects the agreed upon calendar
year, if any, during which you will exercise the indicated number of Affected
Options (referred to herein as the “Designated Date Options”).  In no event (i) except as set forth in
Paragraphs 4 and 6 below, shall you be eligible to exercise such Designated
Date Options in any year other than during the designated calendar year set
forth in the CYDD, and (ii) shall the calendar year designation selected by you
result in an exercise date which is later than the original stated term of the
particular Agreement.  In the event you
have not completed the CYDD with respect to a particular grant, you shall be
deemed to have elected that the exercise price at which you will be permitted
to exercise the Affected Options subject to that particular grant (referred to
herein as the “Exercise Price Adjusted Options”) shall be the price indicated
on the CYDD in the column marked “Revised Price” (with such revised exercise
price being hereinafter referred to as the “Measurement Date Price”).  In such case, you hereby waive any right,
with respect to each Exercise Price Adjusted Option, to the difference between
(x) the original exercise price set forth in each Agreement, and (y) the
applicable Measurement Date Price under any circumstance.  With respect to any Exercise Price Adjusted
Options, all other terms and conditions of such Exercise Price Adjusted Options
shall remain in full force and effect in accordance with the Agreements and the
applicable Plan.

4.               Impact of Termination of Service
on Designated Date Options.  Notwithstanding anything herein or in the
Agreements to the contrary, in the event that you terminate service with the
Company (and its affiliates) prior to a designated calendar year set
forth in the CYDD, you shall have the right to exercise any remaining vested
Designated Date Options that are subject to a CYDD following such termination
of service as provided in the Agreements subject to this Paragraph 4.  In the event that you terminate service with
the Company (and its affiliates) during a designated calendar year set
forth in the CYDD, such termination of service (other than a termination
contemplated under Subparagraph 4A), shall have no impact on your right to
exercise any remaining vested Designated Date Options during such
designated calendar year and you shall be entitled to exercise such Designated
Date Options solely during such calendar year.  For purposes of this Paragraph 4, the term “termination

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                        from service” with respect to each Designated
Date Option shall have the meaning set forth in each applicable Plan and
Agreement.  Notwithstanding the foregoing
sentence, your ability to exercise your Designated Date Options as a result of
a termination of service prior to the commencement of the applicable designated
calendar year set forth in the CYDD may occur solely upon your “separation from
service” (within the meaning of Section 409A(a)(2)(A)(i) of the Code and the
regulations thereunder).  Notwithstanding
any other provision of this Addendum, in the event that you are deemed a “specified
employee,” as defined in Section 409A(a)(2)(B)(i) of the Code, at the time of
your termination of service prior to the commencement of the applicable
designated calendar year set forth in the CYDD, your exercise of any remaining
vested Designated Date Options that are subject to a CYDD shall be delayed at
least until a period of six (6) months have passed following such termination
(other than due to death or a termination due to “disability” as defined in
Code Section 409A(a)(2)(C)(i) or (ii)). 
In order to effectuate the provisions of this Paragraph 4, it is
acknowledged and agreed that:

A.           In the event your service is terminated at
any time (i) by the Company for “cause,” or (ii) by you voluntarily
after the occurrence of an event that would be grounds for a termination for
“cause,” all Designated Date Options, whether vested or unvested at the
time of such termination, shall be rendered null and void as a result of such
for “cause” termination, and you shall have no right to exercise any such
Designated Date Options.

B.             In the event your service is terminated by
you voluntarily (except as provided in Subparagraph 4A above) prior to
the commencement of the applicable designated calendar year set forth in the
CYDD, you shall have the right to exercise all Designated Date Options which
have vested as of the date of such termination in accordance with the following
provisions:

(i)                                     if the effective date of such termination is
on or prior to September 30 of any particular year, you shall have the right to
exercise any remaining vested Designated Date Options during the 90 day period
which immediately follows such termination (subject to Subparagraphs 4B(iii)
and (iv) if you are deemed a “specified employee” at the time of such termination);

(ii)                                  if the effective date of such termination is
after September 30 of any particular year, you shall have the right to exercise
any remaining vested Designated Date Options during the 90 day period
commencing on the January 1 following such particular year (subject to
Subparagraphs 4B(iii) and (iv)) if you are deemed a “specified employee”
at  the time of such termination;

(iii)                               if you are deemed a “specified employee” on
the date of your termination and if the effective date of such termination is
on or prior to March 30 of any particular year, you shall have the right to
exercise any remaining vested Designated Date Options during the 90 day period
which immediately follows the 6th month
anniversary date of such termination; and

(iv)                              if you are deemed a “specified employee” on
the date of your termination and if the effective date of such termination is
on or after April 1 of any particular year, you shall have the right to
exercise any remaining vested Designated Date Options during the later of (y) the 90 day period
starting January 1 of the following calendar year, or (z) the 90 day period
which immediately follows the 6th month
anniversary date of such termination.

C.             In the event your service is terminated by
the Company without “cause” prior to the commencement of the applicable
designated calendar year set forth in the CYDD, all unvested

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                        Designated Date Options shall be deemed
vested as of the date of such without “cause” termination, and you shall have
the right to exercise all Designated Date Options which had vested prior to
such termination date (with such vested Designated Date Options being
hereinafter referred to as the “Prior to Without Cause Termination Vests”) and
all Designated Date Options which have become vested as a result of such
termination (with such vested Designated Date Options being hereinafter
referred to as the “Accelerated Without Cause Termination Vests”) in accordance
with the following provisions:

(i)                                     with respect to the Prior to Without Cause
Termination Vests, the provisions of Subparagraphs 4(B) (i), (ii), (iii) and
(iv) shall be applicable; and

(ii)                                  with respect to the Accelerated Without Cause
Termination Vests, the provisions of Subparagraphs 4(B) (i), (ii), (iii) and
(iv) shall be applicable, except that the phrase “90 day period” set forth in
five places therein shall be deemed deleted, and the phrase “30 day period”
shall be deemed inserted in lieu thereof.

D.            In the event your service is terminated as a
result of your death or “disability” prior to the commencement of the
applicable designated calendar year set forth in the CYDD, all unvested
Designated Date Options shall be deemed vested as of the date of such
termination, and you (or your estate) shall have the right to exercise all
Designated Date Options which had vested prior to such termination date (with
such vested Designated Date Options being hereinafter referred to as the “Prior
to Death/Disability Termination Vests”) and all Designated Date Options which
have become vested as a result of such death/disability (with such vested
Designated Date Options being hereinafter referred to as the “Accelerated
Death/Disability Vests”) in accordance with the following provisions:

(i)                                     with respect to both the Prior to
Death/Disability Termination Vests and the Accelerated Death/Disability Vests,
you shall have the right to exercise any remaining vested Designated Date
Options during the 365 day period commencing on the January 1 following the
year of such termination; and

(ii)                                  notwithstanding Subparagraph 4(D)(i), if your
disability does not constitute a “disability” as defined under Code Section
409A(a)(2)(C)(i) or 409A(a)(2)(C)(ii) and if you are deemed a “specified
employee” on such termination, date, you shall have the right to exercise any
remaining vested Designated Date Options during the calendar year that
immediately follows the 6th month anniversary date of such termination.

E.              In the event of a change in control, you
shall vest in your Designated Date Options solely to the extent provided in the
Agreements, the applicable Plan or other applicable binding agreement.  Any such vesting shall not impact the
exercise periods specified in the CYDD, except as specified below.  Subject to the requirements of 409A, the
Company may elect, in its sole discretion, to terminate the affected Designated
Date Options, effective at any time within thirty (30) days prior to or twelve
(12) months following a change in control (or during such other time period
permitted under 409A), provided that the event giving rise to the change in
control constitutes a “change in ownership,” “change in effective control,” or “change
in the ownership of a substantial portion of the assets” of the Company under
409A.  The Company may elect, in its sole
discretion, to terminate the Designated Date Options to the extent permitted
under Proposed Treasury Regulation Section 1.409A-3(h)(2)(viii) or other
regulations or guidance issued under 409A. 
In the event the Company elects to terminate the Designated Date Options
as set forth above, you shall be paid an amount, if any, equal to the
difference between the per share Designated Date Option exercise price and the
per share price paid in connection with the “change in control” multiplied by
the number of shares of

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                        the Company’s common stock underlying your
Designated Date Options, whether or not vested at the time of the change in
control.

5.               General Applicability of Addendum.  The
provisions of this Addendum shall not apply to any stock options (i)
which have already been exercised by you, (ii) which vested, in accordance with
the terms of the respective Agreement, on or prior to December 31, 2004 or
(iii) which are granted after the date hereof. The provisions of this Addendum
shall not apply to any Time Value Restricted Stock you may have been
granted.

6.               Impact of Violation of Securities
Law.  Except as set forth in this Addendum, the
terms of each of the Agreements, the Plans pursuant to which the Agreements
were issued and all Company policies regarding the issuance and exercise of
stock options remain unmodified and in full force and effect.  In particular, please note that all Company
policies regarding scheduled and unscheduled blackouts remain in full force and
effect, and all Company policies regarding prohibitions on insider trading
remain in full force and effect.  Solely
to the extent allowable under 409A or applicable regulations, in the event that
the exercise of an Affected Option pursuant to this Addendum and/or the
corresponding sale of any underlying shares of the Company’s common stock would
violate any applicable securities law (a “Violation Period”), you will be
permitted to exercise the vested portion of the Affected Option following the
expiration of a Violation Period for the amount of days occurring in the
Violation Period up to a maximum of 30 days after the expiration of the
Violation Period, even if such date extends beyond designated calendar year
specified in the CYDD but in no extent beyond the stated term of the Affected
Option.  Nothing in this paragraph shall
be construed as shortening the exercise period specified herein in which the
Violation Period occurs.  For purposes of
this Paragraph 6, the term “applicable securities law” shall be deemed to
include those internal Company policies designed to facilitate compliance with
applicable securities law.

7.              Interpretation. 
Nothing provided herein is intended to be a guarantee of tax treatment
with respect to the Affected Options.  It
is acknowledged by you and the Company that the provisions set forth herein
have been drafted and agreed to by both parties under the assumption that
current interpretations of certain accounting, financial reporting and tax
requirements require that this Addendum be executed in order to avoid the
adverse tax consequences referred to above. 
In the event the interpretations of such accounting, financial reporting
or tax requirements change, or in the event such accounting, financial
reporting or tax requirements are themselves amended, supplemented or replaced
by additional or new laws or statutes, then you and the Company shall, in good
faith, negotiate an amendment to this Addendum (or, if necessary, terminate
this Addendum) so as to reach a result, for both you and the Company, which
most closely comports with the original intention of the Agreement without
regard to this Addendum.  Without
limiting the generality of the foregoing, in the event that any new law,
statute or subsequent guidance provides that the exercise period following your
termination may straddle more than one calendar period, the post-termination
periods specified in the Agreements without regard to this Addendum shall
apply, except that if you are a “specified employee” at the time of your
termination, the exercise period shall be delayed until the expiration of the 6th
month period following your termination.

8.              Execution. 
You should carefully consider the provisions of this Addendum prior to
your execution.  Please note that this
Addendum must be executed by you prior to December 31, 2006.  Nothing in this Addendum constitutes, or
shall be construed to constitute, the rendering of legal, tax or financial
planning advice by the Company to you; you should consult with your own legal,
tax or financial planning experts prior to executing this Addendum.

9.               Code Section 409A.  As
amended hereby, the Agreements are intended to comply with Section 409A of the
Code and the Company shall construe, interpret and amend the provisions of this
Addendum, the applicable Plans and the Agreements in such manner as the Company
deems necessary, in its sole discretion, to comply with Section 409A of the
Code.  It is intended that your election
pursuant to this

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                        Addendum (and, if applicable, as set forth in
the CYDD) constitutes either a cancellation and reissuance in accordance with
the transition relief under Notice 2005-1, Q&A-18(d) (if you elect the
substitution of an Affected Option’s exercise price) or a change in payment
elections in accordance with the transition relief under Notice 2005-1,
Q&A-19(c) (if you elect a designated calendar year in the CYDD), in either
case, as modified by the proposed regulations under Code Section 409A and as
further modified by Notice 2006-79.

                IN WITNESS
WHEREOF, the Company and you have executed this Addendum on the date first set
forth above.

BED BATH & BEYOND INC.

	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Steven Temares, Chief Executive Officer

  	
   

  

 

 6Exhibit 10.32

[SVB Financial
Group Letterhead]

April 25, 2007

Michael Descheneaux

8020 Towers Crescent Drive

Suite 475

Vienna, VA  22182

Dear Mike,

Subject to the Board of
Directors Compensation Committee approval, my colleagues and I are very pleased
to confirm our verbal offer to promote you to Chief Financial Officer for SVB
Financial Group.  Your effective date is
April 30, 2007.

Base Compensation:

As SVB’s Chief Financial
Officer, your base salary will be $22,916.66 monthly (the equivalent of
$275,000 if annualized).  You will
continue to participate in the SVB Financial Group’s Incentive Compensation Plan.

Benefits:

Your eligibility for the
following benefits will remain the same: Insurance, Sick Leave, Vacation and
Personal Days.

Your promotion does not
alter the terms of your relocation and signing bonus as outlined in your
original employment offer letter of November 2, 2006.

Nothing
in this offer, or your acceptance of it, alters your at-will employment status
with SVB Financial Group.  You have the
right to terminate your employment at any time with or without cause or notice,
and SVB Financial Group reserves for itself an equal right.  It is also important to note that SVB
Financial Group reserves the right to change our benefits at any time, with or
without notice.

To
confirm your acceptance of our offer, please sign one copy of this letter and
return it to me.  This offer supersedes
any and all other written or verbal offers and is valid until April 30 unless
earlier withdrawn.

Mike,
we are very enthusiastic about your promotion within the SVB Financial Group
team.  We are sure you will continue to
find SVB Financial Group a stimulating and team-oriented company.  The work environment is one of challenge,
opportunity, and reward for success.  If
you have any questions, please do not hesitate to call me at (408)
654-7702.

Sincerely,

/s/ LYNDA WARD PIERCE

Lynda Ward Pierce

Head of Human Resources

Accepted: ____/s/
MICHAEL DESCHENEAUX_______Date: __4/30/07______________

Actual Start Date: ____4/30/07_____________________

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