Document:

exv10w4

Exhibit 10.4

February 5, 2009

Mr. John Culver

2401 Utah Avenue South

Seattle, WA 98134

Dear John:

Thank you for your contributions to the Company’s success and congratulations on your promotion to
executive vice president; president, Global Consumer Products, Foodservice and Seattle’s Best
Coffee, effective February 20, 2009.

Here are the specifics of your offer:

You will be paid bi-weekly at a base salary that annualizes to $425,000.

Executive Management Bonus Plan

You will be eligible to participate in the Executive Management Bonus Plan (EMBP) for fiscal year
2009. Your bonus target will be 50% of your eligible base salary. Payout will be based on
achievement of Company, business unit/department, and individual objectives.

For more information about the bonus plans, or a copy of the plan document, please talk to your
Partner Resources generalist. Starbucks reserves the right to review, change, amend, or cancel
incentive plans at any time.

Stock Option Grant

You will be granted stock options to purchase additional shares of Starbucks common stock with an
economic value of $170,000 USD under the Key Employee Sub-Plan to the 2005 Long-Term Equity
Incentive Plan, subject to formal approval by the Compensation and Management Development Committee
of the Board of Directors. The exercise price of the options will be the regular trading session
closing price of a share of Starbucks stock on the date of the grant. The grant date of your
options will be after you assume your new role and otherwise effective in accordance with the
Company’s equity grant timing policy. The options will be non-qualified and 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.

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

 

 

John Culver

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in Starbucks stock within five years. The minimum investment for executive vice presidents is
$750,000. A copy of the guidelines will be provided to you.

Management Deferred Compensation Plan

You will continue to be eligible to participate in the Management Deferred Compensation Plan (MDCP)
because you are on our U.S. payroll and meet the eligibility criteria. The MDCP provides eligible
partners with the opportunity to save on a tax-deferred basis. If you have questions about the
MDCP, please contact the Starbucks Savings Team at savings@starbucks.com. You may obtain
more information about the MDCP on the Savings link at http://LifeAt.sbux.com.

Executive Life Insurance

As an executive, you and your family have a greater exposure to financial loss resulting from your
death. You will continue to receive partner life coverage equal to three times your annualized
base pay, paid for by Starbucks. You may purchase up to an additional two times your annualized
base pay (for a total of five times pay) to a maximum life insurance benefit of $2,000,000.

Executive Physical Exam

You will continue to be eligible to participate in Starbucks executive physical program. If you
have questions about this physical, please contact Kelley Hardin at (206) 318-7756.

Benefits

To understand how your new role may affect your benefits, please contact the Starbucks Partner
Contact Center at 1-866-504-7368 or your Partner Resources generalist. Please note that although
it is Starbucks intent to continue these plans, they may be amended or terminated at any time
without notice.

Insider Trading

As an executive, with access to sensitive business and financial information about the Company, you
will continue to 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.

Coffee Hedging

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.

 

 

John Culver

Page 3

As a condition of your new role, you are asked to sign a Confidentiality, Non-Solicitation and
Non-Compete Agreement (“Non-Compete Agreement”). Enclosed are two copies. Please review and sign
both copies of the Non-Compete Agreement and this letter, and return one copy of each document to
Chet Kuchinad.

In your position, you will remain employed ‘at will,’ meaning that either you or your employer can
end the employment relationship at any time, for any reason not prohibited by law.

On behalf of the entire team, I wish you the best in your new role and look forward to your
continued success. If you have any questions, please call me at 206-318-4010.

Warm regards,

	 	 	 	 	 
	 	 	 
	/s/ Howard Schultz
 	 	 
	Howard Schultz 	 	 
	chairman, president and chief executive officer 	 	 
	 

			
	cc:	 	partner file

Stock Administration (S-HR3)

Chet Kuchinad
	 	 	 
	Enc.	 	Non-Compete Agreement

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

	 	 	 	 	 
	 	 	 
	/s/ John Culver                       	 	2/6/09 
	John Culver                           	 	Dateexv10w2

Exhibit 10.2

ENCORE ACQUISITION COMPANY

NON-QUALIFIED STOCK OPTION AGREEMENT

This Non-Qualified Stock Option Agreement (“Agreement”) is made and entered into as of the date of
grant set forth below (the “Date of Grant”) by and between Encore Acquisition Company, a Delaware
corporation (the “Company”), and the optionee named below (“Optionee”). Capitalized terms not
defined herein shall have the meaning ascribed to them in the Company’s 2008 Incentive Stock Plan,
as established effective May 6, 2008, and as such plan may be thereafter amended (the “Plan”).

	 	 	 
	Optionee:
	 	 
	 

	 	 

	 	 	 
	Social Security Number:
	 	 
	 

	 	 

	 	 	 
	Address:
	 	 
	 

	 	 
	 
	 
	 

	 	 	 
	Total Option Shares:
	 	 
	 

	 	 

	 	 	 	 	 
	Exercise Price Per Share:

	 	 	 	$30.55

	 	 	 
	Date of Grant:

	 	February 9, 2009

	 	 	 
	Expiration Date for Exercise of Options:

	 	February 8, 2019

1. Grant of Option. The Company hereby grants to Optionee an option (the “Option”) to
purchase the total number of shares of Common Stock of the Company (the “Common Stock”) set forth
above (the “Shares”) at the Exercise Price Per Share set forth above (the “Exercise Price”),
subject to all of the terms and conditions of this Agreement and the Plan. This option is intended
to be a nonqualified stock option subject to the provisions of Section 83 of the Internal Revenue
Code of 1986, as amended (the “Code”).

2. Exercise of Option. This Option shall be exercisable during its term in accordance with
the terms and provisions of the Plan as follows:

     (a) Vesting.

     (1) This Option shall vest and be exercisable based on the following schedule:

	 	(i)	 	1/3 of the total Shares subject to this Option
shall vest and be exercisable by Optionee 12 months after the Date of
Grant;
	 
	 	(ii)	 	Another 1/3 of the total Shares subject to this
Option shall vest and be exercisable by Optionee 24 months after the
Date of Grant; and
	 
	 	(iii)	 	The final 1/3 of the total Shares subject to
this Option shall vest and be exercisable by Optionee 36 months after
the Date of Grant.

 

 

     (2) This Option may not be exercised for a fraction of a Share, but instead, the number
of Shares, which shall vest and be exercisable hereunder, shall be rounded up to the next
whole number of Shares.

     (3) In the event of Optionee’s death, disability, retirement or other termination of
employment, the exercisability of the Option is governed by Sections 4, 5, 6 and 7 below.

     (4) In no event may this Option be exercised after the date of expiration of the term
of this Option as set forth in Section 9 below.

     (b) Method of Exercise. This Option shall be exercisable by written notice, which shall
state the election to exercise the Option and the number of Shares in respect of which the Option
is being exercised. Such written notice shall be signed by Optionee and shall be delivered in
person or by certified mail to the Corporate Secretary of the Company. The written notice shall be
accompanied by payment of the Exercise Price.

     No Shares will be issued pursuant to the exercise of an Option unless such issuance and such
exercise shall comply with all relevant provisions of law and the requirements of any stock
exchange upon which the Common Stock may then be listed. Assuming such compliance, for income tax
purposes the Shares shall be considered transferred to Optionee on the date on which the Option is
exercised with respect to such Shares.

3. Method of Payment. Payment of the purchase price of Shares shall be made by cash, check
or, in the sole discretion of the Committee at any time prior to exercise, promissory notes or the
assignment and delivery to the Company of shares of Common Stock owned by Optionee without
restriction for the preceding six months having a Fair Market Value equal to the aggregate purchase
price of the Shares purchased.

     The Company will, as soon as reasonably practicable, notify Optionee of the amount of
withholding tax, if any, that must be paid under federal, state and local law due to the exercise
of the Option. Optionee shall, prior to receiving the Shares purchased under this Option, satisfy
the amount of withholding tax specified in the Company’s notice by (i) cash or check, (ii)
assignment and delivery to the Company of shares of Common Stock owned by Optionee (without regard
to the length of time held by Optionee) having a Fair Market Value of such amount, (iii) notice to
the Company of Optionee’s election to have the Company withhold whole Shares otherwise
deliverable to Optionee from the exercise of the Option, which Shares have a Fair Market Value of
such amount or (iv) a combination of (i), (ii) or (iii).

     Certificates for any shares of Common Stock delivered in satisfaction of all or a portion of
the Exercise Price and any withholding tax shall be appropriately endorsed for transfer and
assignment to the Company. For purposes of determining the amount, if any, of the Exercise Price
satisfied by delivery of shares of Common Stock or the amount of tax withholding satisfied by
delivery of shares of Common Stock or withholding of Shares from the exercise of the Option, such
shares shall be valued at Fair Market Value on the date of exercise.

4. Termination of Status as an Employee. In the event of termination of Optionee’s
“Continuous Status as an Employee” for any reason other than death, disability or retirement as

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provided in Sections 5, 6 or 7 of this Agreement, Optionee may exercise this Option to the extent
exercisable at the date of such termination until the earlier of (i) the date three (3) months
after the date of such termination or (ii) the date of expiration of the term of this Option as set
forth in Section 9 below. To the extent that Optionee was not entitled to exercise this Option at
the date of such termination, or if Optionee does not exercise this Option within the time
specified herein, this Option shall terminate.

     “Continuous Status as an Employee” shall mean the absence of any interruption or termination
of service as an employee of the Company or any subsidiary or affiliate, as applicable. Continuous
Status as an Employee shall not be considered interrupted in the case of sick leave, military
leave, or any other leave of absence approved by the Board; provided that such leave is for a
period of not more than 90 days or reemployment upon the expiration of such leave is guaranteed by
contract or statute.

5. Disability of Optionee. In the event of termination of Optionee’s Continuous Status as
an Employee as a result of Optionee’s total and permanent disability (as defined in Section
22(e)(3) of the Code), Optionee may exercise this Option with respect to all Shares subject to this
Option (to the extent not previously exercised), but only until the earlier of (i) the date two (2)
years after the date of termination of employment or (ii) the date of expiration of the term of
this Option as set forth in Section 9 below. To the extent the Optionee does not exercise this
Option within the time period specified herein, this Option shall terminate.

6. Death of Optionee. In the event of the death of Optionee:

     (a) during (i) the term of this Option while an Employee of the Company and having been in
Continuous Status as an Employee since the date of grant of this Option, (ii) during the two (2)
year period specified in Section 5 following the termination of Optionee’s Continuous Status as an
Employee as a result of total and permanent disability or (iii) the term of this Option following
the retirement of the Optionee (as defined in Section 7), this Option may be exercised with respect
to all Shares subject to this Option (to the extent not previously exercised) by
Optionee’s estate or by a person who acquired the right to exercise the Option by bequest or
inheritance until the earlier of (i) the date two (2) years following the date of death or (ii) the
date of expiration of the term of this Option as set forth in Section 9 below; or

     (b) within the three (3) month period specified in Section 4 after the termination of
Optionee’s Continuous Status as an Employee, then this Option may be exercised to the extent
exercisable at termination by Optionee’s estate or by a person who acquired the right to exercise
this Option by bequest or inheritance until the earlier of (i) the date two (2) years following the
date of death or (ii) the date of expiration of the term of this Option as set forth in Section 9
below.

To the extent that such estate or other person does not exercise such Option within the two (2)
year time period specified in this Section 6, this Option shall terminate.

7. Retirement of Optionee. Upon termination of the Optionee’s employment with the Company
or any subsidiary of the Company (or the successor of any such company) as a result of the
retirement of the Optionee, this Option, after such retirement, shall continue to vest and become
exercisable in accordance with the provisions of Section 2 hereof as if the Optionee had

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remained
employed by the Company and, subject to the terms of Section 6 hereof, shall remain exercisable
until the date of expiration of the term of this Option as set forth in Section 9 below.
Retirement of the Optionee shall mean (i) the termination of employment with the Company on or
after the last day the month in which the Optionee attains age 65 and has, as of such date of
termination, been continuously employed by the Company for at least two years or (ii) otherwise as
the Committee shall determine, in its sole discretion.

8. Non-Transferability of Option. This Option may not be transferred in any manner
otherwise than by will or by the laws of descent or distribution and may be exercised during the
lifetime of Optionee, only by Optionee. The terms of this Option shall be binding upon the
executors, administrators, heirs, successors and assigns of Optionee.

9. Term of Option. This Option must be exercised on or before February 8, 2019 and may be
exercised during such term only in accordance with the Plan and terms of this Option.

10. Severability; Construction. In the event that any provision in this Option shall be
invalid or unenforceable, such provision shall be severed from and such invalidity or
unenforceability shall not be construed to have any effect on the remaining provisions of this
Option. This Option shall be construed as to its fair meaning and not for or against either party.

11. Damages. The parties agree that any violation of this Option (other than a default in the payment of
money) cannot be compensated for by damages, and any aggrieved party shall have the right, and is
hereby granted the privilege, of obtaining specific performance of this Option in any court of
competent jurisdiction in the event of any breach hereunder.

12. Governing Law. This Option shall be deemed to be made under and governed by and
construed in accordance with the laws of the State of Delaware.

13. Delay. No delay or failure on the part of the Company or Optionee in the exercise of
any right, power or remedy shall operate as a waiver thereof, nor shall any single or partial
exercise by either of them of any right, power or remedy preclude other or further exercise
thereof, or the exercise of any other right, power or remedy.

14. Incorporation of Plan; Complete Agreement. This Agreement and the grant of the Option
hereunder are made pursuant to the Plan and are subject to all of the terms and provisions of the
Plan as if fully set forth herein. This Agreement constitutes the entire agreement between the
parties with respect to its subject matter, and supersedes all other prior or contemporaneous
agreements and understandings both oral or written; subject, however, that in the event of any
conflict between this Agreement and the Plan, the Plan shall govern. This Agreement may only be
amended in a writing signed by the Company and the Optionee.

15. Privileges of Stock Ownership. Optionee shall not have any of the rights of a
shareholder with respect to any Shares until Optionee exercises the Option and pays the Exercise
Price.

16. Notices. Any notice required to be given or delivered to the Company under the terms
of this Agreement shall be in writing and addressed to the Corporate Secretary of the Company at
its principal corporate offices. Any notice required to be given or delivered to Optionee shall be

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in writing and addressed to Optionee at the address indicated above or to such other address as
such party may designate in writing from time to time to the Company. All notices shall be deemed
to have been given or delivered upon: personal delivery; three (3) days after deposit in the United
States mail by certified or registered mail (return receipt requested); one (1) business day after
deposit with any return receipt express courier (prepaid); or one (1) business day after
transmission by rapidfax or telecopier.

16. No Right to Employment or Continued Vesting. OPTIONEE ACKNOWLEDGES AND AGREES THAT THE
VESTING OF SHARES PURSUANT TO SECTION 2 HEREOF IS EARNED ONLY BY CONTINUING SERVICE AS AN EMPLOYEE
AT THE WILL OF THE COMPANY (NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS
OPTION OR ACQUIRING SHARES HEREUNDER). OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT THIS OPTION,
THE COMPANY’S PLAN WHICH IS INCORPORATED HEREIN BY REFERENCE, THE TRANSACTIONS CONTEMPLATED
HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE
OF CONTINUED EMPLOYMENT AS AN EMPLOYEE FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL
NOT INTERFERE WITH OPTIONEE’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE OPTIONEE’S EMPLOYMENT
RELATIONSHIP AT ANY TIME, WITH OR WITHOUT CAUSE.

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     Optionee acknowledges receipt of a copy of the Plan, represents that Optionee is familiar with
the terms and provisions thereof, and hereby accepts this Option subject to all of the terms and
provisions thereof. Optionee has reviewed the Plan and this Option in their entirety, has had an
opportunity to obtain the advice of counsel prior to executing this Option and fully understands
all provisions of this Option. Optionee hereby agrees to accept as binding, conclusive and final
all decisions or interpretations of the Board or of the Committee upon any questions arising under
the Plan.

Date: ___________________________

	 	 	 	 	 
	THE COMPANY:

ENCORE ACQUISITION COMPANY, a Delaware corporation

 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 
	OPTIONEE:	 	 
	 	 	 	 	 
	 	 	 
	 	 	 

Consent of Spouse. The undersigned spouse of Optionee acknowledges receipt of a copy of
the Plan and this Non-Qualified Stock Option Agreement, represents that he/she is familiar with the
terms and provisions thereof, has had an opportunity to obtain the advice of counsel prior to
executing this consent and fully understands all provisions of this Option and consent. The
undersigned spouse hereby agrees to accept as binding, conclusive and final all decisions or
interpretations of the Board or of the Committee upon any questions arising under the Plan.

	 	 	 
	Signature of Spouse:

	 	 

	 	 	 
	Printed or Typed Name:

	 	 

	 	 	 
	Address:

	 	 
	 
	 

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