Document:

SUMMARY OF DIRECTOR COMPENSATION

    

    Exhibit
      10.1 SUMMARY OF DIRECTOR COMPENSATION

     

     

    WALGREEN
      CO. DIRECTOR COMPENSATION

    

    

    Full-time
      employees of the Company who serve as directors do not receive additional
      compensation for service on the Board of Directors. Directors who are not
      employees currently receive the following:

    

    
      	·  	
              $70,000
                annual retainer, paid quarterly.

            

    

    
      	·  	
              Additional
                $20,000 annual retainer for Audit Committee Chair, paid
                quarterly.

            

    

    
      	·  	
              Additional
                $10,000 annual retainer for each other Committee chair, paid
                quarterly.

            

    

    
      	·  	
              One
                half of regular annual retainer is paid in shares of Walgreen Co.
                stock.
                The other half of the regular annual retainer and the entire Committee
                chair retainer are paid in cash.

            

    

    
      	·  	
              On
                each November 1st,
                annual grant of Walgreen Co. stock equal to $100,000 divided by the
                Walgreen Co. stock price on that date (stock grant is provided via
                the
                Walgreen Co. Nonemployee Director Stock
                Plan).

            

    

    
      	·  	
              The
                elements of director compensation are subject to the deferral
                opportunities described below.

            

    

    

    Upon
      the
      recommendation of the Nominating and Governance Committee of the Board, on
      July
      11, 2007 the Board of Directors approved an increase to the dollar value of
      the
      annual stock grant under the Nonemployee Director Stock Plan to $120,000,
      beginning with the grant on November 1, 2007.

    

      The
        following deferral opportunities continue to be available to nonemployee
        directors under the Nonemployee Director Stock Plan:

      

      
        	·  	
                All
                  cash payments may be deferred into a deferred cash compensation
                  account or
                  awarded in the form of deferred stock
                  units.

              

      

      
        	·  	
                Portion
                  of annual retainer paid in stock and annual stock grant may be
                  awarded in
                  the form of deferred stock units.

              

      

      

      Certain
        nonemployee directors remain eligible for benefits under discontinued director
        compensation arrangements, as follows:

      

      
        	·  	
                The
                  Walgreen Co. Nonemployee Director Stock Plan is a replacement for
                  certain
                  compensation arrangements for nonemployee directors in effect prior
                  to
                  November 1996, under the Retirement Plan for Outside Directors.
                  The
                  Retirement Plan for Outside Directors continues to apply only with
                  respect
                  to compensation earned by nonemployee directors for periods of
                  service
                  prior to November 1, 1996. Under this Plan, the annual benefits
                  payable to
                  a nonemployee director for the shorter of (i) the number of years
                  the
                  director served as a non-employee member of the Board, or (ii)
                  10 years,
                  were equal to the sum of 80% of the annual Board retainer in effect
                  on the
                  date of retirement, plus 4% of the director’s final annual retainer for
                  each year of service as a nonemployee director in excess of 10
                  years. In
                  no case could the annual benefit payment exceed 100% of the annual
                  retainer in effect and payable to the nonemployee director on the
                  date of
                  his or her retirement from the Board of Directors. Messrs. Howard
                  and Reed
                  and Ms. von Ferstel will receive benefits under this Retirement
                  Plan upon
                  their retirement from the Board.

              

      

      
        	·  	
                Two
                  current nonemployee directors (Mr. Howard and Ms. von Ferstel)
                  participated in unfunded deferred compensation plans offered prior
                  to 1993
                  that permitted a director to defer a portion of his or her retainer
                  fees,
                  and each is receiving annual payments under such
                  plans.ex101.htm

    
      This
        FOURTH AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is dated as of July 13,
        2007, is effective as set forth below, and is by and between STANLEY FURNITURE
        COMPANY, INC., a Delaware corporation (the “Borrower”); and WACHOVIA BANK,
        NATIONAL ASSOCIATION, a national banking association and successor to SouthTrust
        Bank, an Alabama banking corporation (the “Lender”).

      

      

      RECITALS

      

      The
        Lender has made
        a certain credit facility (the “Loan”) available to the Borrower pursuant to the
        terms and conditions contained in that certain Credit Agreement dated as
        of
        August 29, 2003 between the Borrower and the Lender (as amended by that certain
        First Amendment to Credit Agreement dated as of April 23, 2004, that certain
        Second Amendment to Credit Agreement effective as of August 29, 2005, and
        that
        certain Third Amendment to Credit Agreement effective as of August 28, 2006,
        the
“Credit Agreement”).

      

      In
        accordance with Section 2.12 of the Credit Agreement, the Borrower has submitted
        to the Bank, and the Bank has received, a timely request that the Lender
        extend
        the Date of Maturity (as defined in the Credit Agreement) to August 29,
        2009.

      

      The
        Lender has
        agreed to extend the Date of Maturity in accordance with said request and
        the
        terms of this Amendment.

      

      The
        Borrower has
        also requested that the Lender amend certain provisions of the Credit Agreement
        and, subject to the terms and conditions set forth in this Amendment, the
        Lender
        has agreed to do so.

      

      NOW,
        THEREFORE, the
        Borrower and the Lender hereby agree as follows:

      

      1.  Pursuant
        to the terms of Section 2.12 of the Credit Agreement, the Lender has agreed
        to
        extend the Date of Maturity of the Loan by 12 months, effective August 29,
        2007.  Effective August 29, 2007, the maturity date of the Loan and
        the definition of “Date of Maturity” in the Credit Agreement are hereby changed
        to August 29, 2009.

      

      2.           This
        Amendment shall be deemed to be a contract made under, and for all purposes
        shall be construed in accordance with, the laws of the Commonwealth of
        Virginia.

      

      3.           The
        Borrower hereby acknowledges and agrees that, as of the date hereof, the
        unpaid
        principal balance of the Loan is $0 and that there are no set-offs or defenses
        against the Credit Agreement or the Note (as defined in the Credit
        Agreement).  The parties to this Amendment do not intend that this
        Amendment be construed as a novation of the Note or the Credit
        Agreement.  Except as hereby expressly extended and modified, the Note
        and Credit Agreement shall otherwise be unchanged, shall remain in full force
        and effect, and are hereby expressly approved, ratified and
        confirmed.

      

      IN
        WITNESS WHEREOF, the parties hereto have executed or caused this instrument
        to
        be executed under seal as of the day and year first above written.

      

      STANLEY
        FURNITURE COMPANY, INC.        [SEAL]

       

      
        	 By:	 /s/ Douglas I.
                Payne        
	 Name: 	 Douglas I. Payne
	 Title:	 Vice President -  Finance and
                Administration

      

       

                                                                        

      WACHOVIA
        BANK, NATIONAL ASSOCIATION       
[SEAL]

       

      
        	 By:     	 /s/ Jonathan R. Richardson
	 Name:	 Jonathan R. Richardson
	 Title:	 Vice Presidentexv10w1

 

Exhibit 10.1

July 16, 2007

Martin Coles

[Address]

[Address]

Dear Martin:

Thank you for your contributions to the Company’s success and congratulations on your promotion to
chief operating officer reporting to me at Starbucks Coffee Company. I value your passion for the
organization and look forward to you beginning your new role on September 4, 2007.

Here are the specifics of your offer:

You will be paid bi-weekly at a base salary that annualizes to $725,000. You will next be eligible
for a merit increase in December 2008.

Executive Management Bonus Plan

You will continue to be eligible to participate in the Executive Management Bonus Plan. For fiscal
year 2007, your bonus target will continue to be 65% of your eligible base salary and your bonus
will be based on achievement of company, business unit and individual performance goals set at the
beginning of fiscal 2007. For fiscal year 2008, your bonus target will be 100% of your eligible
base salary. This bonus is based on achievement of company, collective business unit (i.e., the
sum of all business units) and individual performance goals to be set at the beginning of fiscal
2008. We will provide you with more information about the bonus plan and a copy of the plan
documents. 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 $1,085,000 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 option
grant policy. The options will be non-qualified and will vest in

 

 

Martin Coles

July 16, 2007

Page 2

equal installments over a period
of four (4) years, beginning on the first anniversary date of the grant, subject to your continued
employment.

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, up 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.

 

 

Martin Coles

July 16, 2007

Page 3

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.

As a condition of being promoted and in consideration for the increase in your base compensation,
you are asked sign a Non-Competition Agreement. Enclosed are two copies. Please review and sign
both copies of the Non-Competition Agreement and this letter, and return one copy of each document
to Brenda Robinson.

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 206-318-8575.

	 	 	 	 	 
	Warm regards,

 	 
	/s/ Jim Donald
 	 
	Jim Donald	 
	president & chief executive officer

Enc. Non-Competition Agreement 	 
	 

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

	 	 	 
	/s/ Martin Coles

	 	July 16, 2007
	 

	 	 
	Martin Coles

	 	Date

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