Document:

SBUX - 9.29.2013 - Exhibit 10.17

EXHIBIT 10.17
STARBUCKS CORPORATION
GLOBAL STOCK OPTION GRANT AGREEMENT
FOR PURCHASE OF STOCK UNDER THE 
KEY EMPLOYEE SUB-PLAN TO THE 
2005 LONG-TERM EQUITY INCENTIVE PLAN

FOR VALUABLE CONSIDERATION, STARBUCKS CORPORATION (the “Company”) does hereby grant to the individual named below (the “Optionee”), the number of options to purchase a share of the Company’s Common Stock (the “Options”) set forth below for the exercise price per share (the “Exercise Price”) set forth below.  Such Options shall vest and terminate according to the vesting schedule and term information described below in this Global Stock Option Grant Agreement and according to any special terms and conditions applicable to the Optionee’s country contained in any appendix hereto (the “Appendix”).  All terms of this Global Stock Option Grant Agreement, including the Appendix, shall be subject to the terms and conditions of the Key Employee Sub-Plan to the 2005 Long-Term Equity Incentive Plan (the “Key Employee Sub-Plan”) and the 2005 Long-Term Equity Incentive Plan (the “Plan”).  Capitalized terms not explicitly defined in this Global Stock Option Grant Agreement but defined in the Plan shall have the same definition as in the Plan.  

	
		
	Optionee:
	 

	Number of Options:
	 

	Type of Option Grant:
	Non-Qualified Stock Option

	Exercise Price:
	 

	Date of Grant:
	 

	Term of Option:
	10 years from Date of Grant

	Vesting Schedule:
	 

ACKNOWLEDGMENT AND CONSENT
    
1.Change of Control.  Upon a Change of Control, the vesting of the Options shall accelerate and the Options shall become fully vested and exercisable to the extent and under the terms and conditions set forth in the Plan; provided, that for purposes of this Section, "Resignation (or Resign) for Good Reason" shall have the following meaning:

“Resignation (or Resign) for Good Reason” shall mean any voluntary termination by written resignation of the Active Status of the Optionee after a Change of Control because of: (1) a material reduction in the Partner’s authority, responsibilities or scope of employment; (2) an assignment of duties to the Partner materially inconsistent with the Partner’s role at the Company (including its Subsidiaries and affiliates) prior to the Change of Control, (3) a material reduction in the Partner’s base salary or total incentive compensation; (4) a material reduction in the Partner’s benefits unless such reduction applies to all Partners of comparable rank; or (5) the relocation of the Partner’s primary work location more than 50 miles from the Partner’s primary work location prior to the Change of Control.  Notwithstanding the foregoing, an Optionee shall not be deemed to have Resigned for Good Reason unless the Optionee, within one year after a Change of Control, (i) notifies the Company of the existence of the condition giving rise to a Resignation for Good 

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Reason within 90 days of the initial existence of such condition, (ii) gives the Company at least 30 days following the date on which the Company receives such notice (and prior to termination) in which to remedy the condition, and (iii) if the Company does not remedy such condition within such 30-day period, actually terminates employment within 60 days after the expiration of such 30-day period (and before the Company remedies such condition).  If the Company remedies such condition within such 30-day period (or at any time prior to the Optionee's actual termination), then any Resignation for Good Reason by the Optionee on account of such condition will not be a Resignation for Good Reason.

2.Responsibility for Taxes.  Regardless of any action the Company or, if different, the Optionee’s employer (the “Employer”) takes with respect to any or all income tax, social insurance, payroll tax, payment on account or other tax-related items related to the Optionee’s participation in the Plan and legally applicable to the Optionee (“Tax-Related Items”), the Optionee acknowledges that the ultimate liability for all Tax-Related Items is and remains his or her responsibility and may exceed the amount actually withheld by the Company or the Employer.  The Optionee further acknowledges that the Company and/or the Employer (1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Options, including but not limited to, the grant, vesting or exercise of the Options, the subsequent sale of shares of Common Stock acquired pursuant to such exercise and the receipt of any dividends; and (2) do not commit to and are under no obligation to structure the terms of the grant or any aspect of the Options to reduce or eliminate the Optionee’s liability for Tax-Related Items or achieve any particular tax result.  Furthermore, if the Optionee has become subject to tax in more than one jurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable, he or she acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction.
    
Prior to exercise of the Options or any other relevant taxable or tax withholding event, as applicable, the Optionee must pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items.  In this regard, the Optionee authorizes the Company and/or the Employer, or their respective agents, in their sole discretion, to satisfy their withholding obligations with regard to all Tax-Related Items by one or a combination of the following: 

		
	(a)
	withholding from the Optionee’s wages or other cash compensation paid to the Optionee by the Company and/or the Employer; or

		
	(b)
	withholding from proceeds of the sale of shares of Common Stock acquired upon exercise of the Options, either through a voluntary sale or through a mandatory sale arranged by the Company (on the the Optionee’s behalf pursuant to this authorization without further consent), to the extent and in the manner permitted by all applicable securities laws, including making any necessary securities registration or taking any other necessary actions; or

		
	(c)
	withholding in whole shares of Common Stock to be issued at exercise of the Options the fair market value of which (determined by reference to the closing price of the Common Stock on the principal exchange on which the Common Stock trades on the date the withholding obligation arises, or if such date is not a trading date, on the next preceding trading date) is equal to the aggregate withholding obligation as determined by the Company and/or the Employer with respect to such Options.

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Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding amounts or other applicable withholding rates, including maximum applicable rates, in which case the Optionee will receive a refund of any over-withheld amount in cash and will have no entitlement to the Common Stock equivalent.  If the obligation for Tax-Related Items is satisfied by withholding in shares of Common Stock, for tax purposes, the Optionee is deemed to have been issued the full number of shares of Common Stock subject to the exercised Options, notwithstanding that a number of the shares of Common Stock is held back solely for the purpose of paying the Tax-Related Items due as a result of any aspect of the Optionee’s participation in the Plan.  In the event the Tax-Related Items withholding obligation would result in a fractional number of shares of Common Stock to be withheld by the Company, such number of shares to be withheld shall be rounded up to the next nearest number of whole shares of Common Stock.  If, due to rounding of shares of Common Stock, the value of the number of shares retained by the Company pursuant to this provision is more than the amount required to be withheld, then the Company may pay such excess amount to the relevant tax authority as additional withholding with respect to the Optionee.  
    
Finally, the Optionee is required to pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold or account for as a result of his or her participation in the Plan that cannot be satisfied by the means previously described.  The Company may refuse to issue or deliver shares of Common Stock or the proceeds of the sale of shares of Common Stock if the Optionee fails to comply with his or her obligations in connection with the Tax-Related Items.  The Optionee shall have no further rights with respect to any shares of Common Stock that are retained by the Company pursuant to this provision, and under no circumstances will the Company be required to issue any fractional shares of Common Stock.

3.Nature of Grant.  In accepting the grant of the Options, the Optionee acknowledges, understands and agrees that:
		
	(a)
	the Plan is established voluntarily by the Company, is discretionary in nature and may be modified, amended, suspended or terminated by the Company at any time;

		
	(b)
	the grant of the Options is voluntary and occasional and does not create any contractual or other right to receive future grants of options, or benefits in lieu of options, even if options have been granted in the past;

		
	(c)
	all decisions with respect to future option grants, if any, will be at the sole discretion of the Company; 

		
	(d)
	the Optionee’s participation in the Plan shall not create a right to employment or be interpreted as forming an employment or service relationship with the Company, the Employer or any other Subsidiary or affiliate of the Company and shall not interfere with the ability of the Company, the Employer or any other Subsidiary or affiliate of the Company, as applicable, to terminate his or her employment or service relationship, if any; 

		
	(e)
	the Optionee is voluntarily participating in the Plan; 

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	(f)
	the Options and the shares of Common Stock subject to the Options are not intended to replace any pension rights or compensation;

		
	(g)
	the Options and the shares of Common Stock subject to the Options, and the income and value of same, are not part of normal or expected compensation for purposes of calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments; 

		
	(h)
	the future value of the underlying shares of Common Stock underlying the Options is unknown, indeterminable, and cannot be predicted with certainty; 

		
	(i)
	if the underlying shares of Common Stock do not increase in value, the Options will have no value; 

		
	(j)
	if the Optionee exercises the Option and acquires shares of Common Stock, the value of such shares of Common Stock may increase or decrease in value even below the Exercise Price; 

		
	(k)
	after termination of the Optionee’ Active Status, the Optionee is no longer eligible to receive any new options under the Plan;

		
	(l)
	no claim or entitlement to compensation or damages shall arise from termination of the Options resulting from termination of the Optionee’s Active Status (for any reason whatsoever, whether or not in breach of local labor laws or the terms of the Optionee’s employment or service contract, if any, and whether or not later to be found invalid) and, in consideration for the grant of the Options to which the Optionee otherwise is not entitled, the Optionee irrevocably agrees never to institute any claim against the Company, the Employer or any other Subsidiary or affiliate of the Company, waives his or her ability, if any, to bring any such claim, and releases the Company, the Employer and any other Subsidiary or affiliate of the Company from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, the Optionee shall be deemed irrevocably to have agreed not to pursue such claim, and the Optionee agrees to execute any and all documents necessary to request dismissal or withdrawal of such claims; 

		
	(m)
	in the event of termination of the Optionee’s employment (for any reason whatsoever, whether or not in breach of local labor laws or the terms of the Optionee’s employment or service contract, if any, and whether or not later found to be invalid), his or her right to receive the Options and vest in the Options under the Plan, if any, will terminate effective as of the date of the voluntary or involuntary termination of the Optionee’s Active Status; furthermore, in the event of termination of employment (for any reason whatsoever, whether or not in breach of local labor laws or the terms of the Optionee’s employment or service contract, if any, and whether or not later found to be invalid), the Optionee’s right to exercise the Options after termination of employment, if any, will be measured by the date of the voluntary or involuntary termination of his or her Active Status; the Committee shall have the exclusive discretion to determine when the Optionee’s Active Status for purposes of the Option 

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grant is terminated (including whether the Optionee may still be considered to be providing services while on a leave of absence);

		
	(n)
	unless otherwise provided in the Plan or by the Company in its discretion, the Option and the benefits evidenced by this Global Stock Option Grant Agreement do not create any entitlement to have the Option or any such benefits transferred to, or assumed by, another company nor to be exchanged, cashed out or substituted for, in connection with any corporate transaction affecting the Common Stock of the Company; and

		
	(o)
	the following provisions apply only if the Optionee is providing services outside the United States:

(1)the Option and the shares of Common Stock subject to the Option, and the value and income of same, are not part of normal or expected compensation or salary for any purpose; and

(2)neither the Company, the Employer nor any other Subsidiary or affiliate of the Company shall be liable for any foreign exchange rate fluctuation between the Optionee’s local currency and the United States Dollar that may affect the value of the Options or of any amounts due to the Optionee pursuant to the exercise of the Options or the subsequent sale of any shares of Common Stock acquired upon exercise.

4.No Advice Regarding Grant.  The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding the Optionee’s participation in the Plan, or the Optionee’s acquisition or sale of the underlying shares of Common Stock.  The Optionee is hereby advised to consult with his or her own personal tax, legal and financial advisors regarding his or her participation in the Plan before taking any action related to the Plan.

5.Data Privacy.  In accepting the grant of the Options, the Optionee hereby explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of his or her personal data as described in this Global Stock Option Grant Agreement and any other Option grant materials by and among, as applicable, the Employer, the Company, and its other Subsidiaries and affiliates for the exclusive purpose of implementing, administering and managing the Optionee’s participation in the Plan.

The Company and the Employer may hold certain personal information about the Optionee, including, but not limited to, the Optionee’s name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any shares of stock or directorships held in the Company, details of all options or any other entitlement to shares of stock awarded, canceled, exercised, vested, unvested or outstanding in the Optionee’s favor (“Data”), for the exclusive purpose of implementing, administering and managing the Plan.  

The Data will be transferred to Fidelity, or such other stock plan service provider as may be selected by the Company in the future, which is assisting the Company with the implementation, administration and management of the Plan.  The recipients of the Data may be located in the United States or elsewhere, and the recipients’ country (e.g., the 

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United States) may have different data privacy laws and protections than the Optionee’s country.  If the Optionee resides outside the United States, the Optionee may request a list with the names and addresses of any potential recipients of the Data by contacting his or her local partner or human resources representative.  In accepting the grant of the Options, the Optionee authorizes the Company, Fidelity, and any other possible recipients which may assist the Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purpose of implementing, administering and managing his or her participation in the Plan, including any requisite transfer of such Data as may be required to a broker or other third party with whom the Optionee may elect to deposit any shares of Common Stock received upon exercise of the Options.  The Data will be held only as long as is necessary to implement, administer and manage the Optionee’s participation in the Plan.  If the Optionee resides outside the United States, the Optionee may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing his or her local human resources representative.  Further, the Optionee understands that he or she is providing the consents herein on a purely voluntary basis.  If the Optionee does not consent, or if the Optionee later seeks to revoke his or her consent, his or her employment status or service and career with the Employer will not be adversely affected; the only adverse consequence of refusing or withdrawing the Optionee’s consent is that the Company would not be able to grant Options or other equity awards to the the Optionee or administer or maintain such awards.  Therefore, the Optionee understands that refusing or withdrawing the Optionee’s consent may affect the Optionee’s ability to participate in the Plan.  For more information on the consequences of the Optionee’s refusal to consent or withdrawal of consent, the Optionee may contact his or her local partner or human resources representative.

6.Undertakings.  The Optionee hereby agrees to take whatever additional action and execute whatever additional documents the Company may deem necessary or advisable in order to carry out or effect one or more of the obligations or restrictions imposed on either the Optionee or the Option pursuant to the provisions of this Global Stock Option Agreement.

7.Restrictions on Transfer.  Notwithstanding anything in the Plan to the contrary, the Options granted pursuant to this Award may not be sold, pledged (as collateral for a loan or as security for the performance of an obligation or for any other purpose), assigned, hypothecated, transferred, disposed of in exchange for consideration, made subject to attachment or similar proceedings, or otherwise disposed of under any circumstances.

8.Governing Law.  The Options and the provisions of this Global Stock Option Grant Agreement are governed by, and subject to, the laws of the State of Washington, as provided in the Plan, without regard for its conflict of laws provisions.  For purposes of litigating any dispute that arises under this grant or this Global Stock Option Grant Agreement, the parties hereby submit to and consent to the jurisdiction of the State of Washington, agree that such litigation shall be conducted in the courts of King County, or the federal courts of the United States for the 9th Circuit, and no other courts, where this grant is made and/or to be performed.

9.Compliance with Law.  Notwithstanding any other provision of the Plan or this Global Stock Option Grant Agreement, unless there is an available exemption from any registration, qualification or other legal requirement applicable to the shares of Common Stock, the Company 

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shall not be required to deliver any shares issuable upon exercise of the Options prior to the completion of any registration or qualification of the shares under any local, state, federal or foreign securities or exchange control law or under rulings or regulations of the U.S. Securities and Exchange Commission (“SEC”) or of any other governmental regulatory body, or prior to obtaining any approval or other clearance from any local, state, federal or foreign governmental agency, which registration, qualification or approval the Company shall, in its absolute discretion, deem necessary or advisable.  The Optionee understands that the Company is under no obligation to register or qualify the shares with the SEC or any state or foreign securities commission or to seek approval or clearance from any governmental authority for the issuance or sale of the shares of Common Stock.  Further, the Optionee agrees that the Company shall have unilateral authority to amend the Plan and this Global Stock Option Grant Agreement without the Optionee’s consent to the extent necessary to comply with securities or other laws applicable to issuance of shares.

10.Language.  If the Optionee has received this Global Stock Option Grant Agreement or any other document related to the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control.

11.Electronic Delivery and Acceptance.  The Company may, in its sole discretion, decide to deliver any documents related to current or future participation in the Plan by electronic means.  In accepting the grant of the Options, the Optionee hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or another third party designated by the Company.

12.Severability.  The provisions of this Global Stock Option Grant Agreement are severable and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable.

13.Appendix.  Notwithstanding any provisions in this Global Stock Option Grant Agreement, the Options shall be subject to any special terms and conditions set forth in the Appendix for the Optionee’s country.  Moreover, if the Optionee relocates to one of the countries included in the Appendix, the special terms and conditions for such country will apply to the Optionee, to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons.  The Appendix constitutes part of this Global Stock Option Grant Agreement.

14.Imposition of Other Requirements.  The Company reserves the right to impose other requirements on the Optionee’s participation in the Plan, on the Options and on any shares of Common Stock acquired under the Plan, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require the Optionee to sign any additional agreements or undertakings (as provided in Section 6 above) that may necessary to accomplish the foregoing.

15.Waiver.  If the Optionee breaches or otherwise does not comply with any provision of this Global Stock Option Grant Agreement, but the Company does not act upon this breach or non-compliance and continues to comply with its obligations under this Global Stock Option Grant Agreement, this shall not mean that the Company waives any other provision of this Global Stock Option Grant Agreement or will otherwise permit any further breach of or non-compliance with any provision of this Global Stock Option Grant Agreement.  
*   *   *

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EXECUTED as of the Date of Option Grant. 

       STARBUCKS CORPORATION
    
By ________________________________                                                                        
Its ________________________________                                                                         
OPTIONEE

Signature ___________________________                                                           

8 of 8SBUX - 9.29.2013 - Exhibit 10.23

Exhibit  10.23
AMENDMENT NO. 1 TO CREDIT AGREEMENT
This AMENDMENT NO. 1 TO CREDIT AGREEMENT (this “Amendment”), dated as of November 15, 2013 is made by and among STARBUCKS CORPORATION, a Washington corporation (the “Company”), BANK OF AMERICA, N.A. (“Bank of America”), in its capacity as administrative agent for the Lenders (defined below) (in such capacity, the “Administrative Agent”), and each of the Lenders signatory hereto.  Capitalized terms used but not otherwise defined herein have the respective meanings ascribed to them in the Credit Agreement as defined below.

W I T N E S S E T H:
WHEREAS, the Company, Bank of America, as Administrative Agent, Swing Line Lender and L/C Issuer, and the lenders from time to time party thereto (collectively, the “Lenders”) have entered into that certain Credit Agreement dated as of February 5, 2013 (as hereby amended and as from time to time hereafter further amended, modified, supplemented, restated, or amended and restated, the “Credit Agreement”), pursuant to which the Lenders have made available to the Company a multicurrency revolving credit facility, including a letter of credit facility and a swing line facility; and

WHEREAS, the Company has advised the Administrative Agent and the Lenders that it desires to amend certain provisions of the Credit Agreement, and the Administrative Agent and the Lenders signatory hereto are willing to effect such amendments on the terms and conditions contained in this Amendment;

NOW, THEREFORE, in consideration of the premises and further valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1.Amendments to Credit Agreement.  Subject to the terms and conditions set forth herein, the Credit Agreement is hereby amended as follows:
		
	(a)
	The definition of “Consolidated EBITDA” in Section 1.01 is deleted in its entirety and the following is inserted in lieu thereof:

“Consolidated EBITDA” means, for any period, for the Company and its Subsidiaries on a consolidated basis, an amount equal to Consolidated Net Income for such period plus (a) the following to the extent deducted in calculating such Consolidated Net Income: (i) Consolidated Interest Charges for such period, (ii) the provision for federal, state, local and foreign income taxes payable by the Company and its Subsidiaries excluding any tax credits for such period, (iii) depreciation and amortization expense, (iv) fees, charges, reserves, costs or expenses related to litigation, restructuring, severance activities, discontinued operations, casualty events and financing, acquisition or divestiture activities; provided, that the total cash amount of such items shall not exceed $250,000,000in the aggregate, (v) commencing with the fiscal quarter ending September 29, 2013 and through and 

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including all fiscal quarters ending on or before December 31, 2014, fees, charges, reserves, costs or expenses related to the Kraft Matter; provided, that the total cash amount of such items shall not exceed $2,900,000,000 in the aggregate, and (vi) other expenses of the Company and its Subsidiaries reducing such Consolidated Net Income that do not represent a cash item in such period or any future period and minus (b) the following to the extent included in calculating such Consolidated Net Income: (i) federal, state, local and foreign income tax credits of the Company and its Subsidiaries for such period and (ii) non-recurring gains increasing Consolidated Net Income (or reducing net loss) that do not represent cash items for such period or any future period. 

		
	(b)
	Section 1.01 is amended by inserting the following new definition in the appropriate alphabetical location:

“Kraft Matter” means that certain matter involving Kraft Foods Global, Inc. and/or Mondelez International, Inc. that is discussed in Schedule 5.06 and in Part II, Item 1. - “Legal Proceedings” of the Company’s Quarterly Report on Form 10-Q for the quarter ended December 30, 2012 and in Footnote 9 to the Consolidated Financial Statements of the Company filed therewith.
		
	(c)
	Section 5.06 is deleted in its entirety and the following is inserted in lieu thereof:

5.06    Litigation.  There are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of the Company after reasonable due and diligent investigation, threatened in writing, at law, in equity, in arbitration or before any Governmental Authority, by or against the Company or any of its Subsidiaries or against any of their properties that (a) purport to affect or pertain to this Agreement or any other Loan Document, or any of the transactions contemplated hereby, or (b) except as specifically disclosed in Schedule 5.06, either individually or in the aggregate, if determined adversely, could reasonably be expected to have a Material Adverse Effect.
		
	(d)
	Section 8.01(h) is deleted in its entirety and the following is inserted in lieu thereof:

(h)    Judgments.  There is entered against the Company or any Subsidiary (i) a final judgment or order for the payment of money in an aggregate amount exceeding $100,000,000 (to the extent not covered by independent third-party insurance as to which the insurer does not dispute coverage) (other than with respect to the Kraft Matter, in which event, such final judgment or order is for the payment of money in an aggregate amount exceeding $2,900,000,000), or (ii) any one or more non-monetary final judgments that have, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and, in either case, (A) enforcement proceedings are commenced by any creditor upon such judgment or order, or (B) there is a period of ten consecutive days during which a stay of enforcement of such judgment, by reason of a pending 

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appeal or otherwise, is not in effect; or

		
	(e)
	Exhibit E to the Credit Agreement is hereby amended by deleting it in its entirety and inserting Exhibit E attached hereto in lieu thereof.

2.Conditions Precedent.  The effectiveness of this Amendment and the amendments to the Credit Agreement herein provided are subject to the satisfaction of the following conditions precedent (the first date on which such conditions have been satisfied, the “Amendment Effective Date”):
		
	(a)
	the Administrative Agent shall have received each of the following documents or instruments in form and substance reasonably acceptable to the Administrative Agent:

		
	(i)
	one or more counterparts of this Amendment, duly executed by the Company, the Administrative Agent and the Required Lenders; and 

		
	(ii)
	such other documents, instruments, opinions, certifications, undertakings, further assurances and other matters as the Administrative Agent shall reasonably require; and

		
	(b)
	unless waived by the Administrative Agent, all fees and expenses of the Administrative Agent and the Lenders (including the fees and expenses of counsel to the Administrative Agent to the extent invoiced prior to the date hereof) in connection with this Amendment shall have been paid in full (without prejudice to final settling of accounts for such fees and expenses).

3.Representations and Warranties.  In order to induce the Administrative Agent and the Lenders to enter into this Amendment, the Company represents and warrants to the Administrative Agent and the Lenders as follows:

		
	(a)
	After giving effect to this Amendment, (i) the representations and warranties contained in Article V of the Credit Agreement and in each other Loan Document are true and correct on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that the representations and warranties contained in subsections (a) and (b) of Section 5.05 of the Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01 of the Credit Agreement, and (ii) no Default exists.

		
	(b)
	Since the date of the Audited Financial Statements, no act, event, condition or circumstance has occurred or arisen which, individually or in the aggregate, has had or could reasonably be expected to have a Material Adverse Effect.

		
	(c)
	This Amendment has been duly authorized, executed and delivered by the Company and constitutes a legal, valid and binding obligation of the Company, except as may 

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be limited by general principles of equity or by the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar law affecting creditors’ rights generally.
		
	4.
	Entire Agreement.  This Amendment constitutes a Loan Document and, together with all other Loan Documents (collectively, the “Relevant Documents”), sets forth the entire understanding and agreement of the parties hereto in relation to the subject matter hereof and supersedes any prior negotiations and agreements among the parties relating to such subject matter.  No promise, condition, representation or warranty, express or implied, not set forth in the Relevant Documents shall bind any party hereto, and no such party has relied on any such promise, condition, representation or warranty.  Each of the parties hereto acknowledges that, except as otherwise expressly stated in the Relevant Documents, no representations, warranties or commitments, express or implied, have been made by any party to any other party in relation to the subject matter hereof or thereof.  None of the terms or conditions of this Amendment may be changed, modified, waived or canceled orally or otherwise, except in writing and in accordance with Section 10.01 of the Credit Agreement.

		
	5.
	Full Force and Effect of Agreement.  Except as hereby specifically amended, modified or supplemented, the Credit Agreement and all other Loan Documents are hereby confirmed and ratified in all respects and shall be and remain in full force and effect according to their respective terms. 

		
	6.
	Counterparts.  This Amendment may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose signature appears thereon, and all of which shall together constitute one and the same instrument.  Delivery of an executed counterpart of a signature page of this Amendment by telecopy, facsimile or other electronic imaging means (e.g., “pdf” or “tif”) will be effective as delivery of a manually executed counterpart of this Amendment.

		
	7.
	Governing Law.  This Amendment shall in all respects be governed by, and construed in accordance with, the laws of the State of New York applicable to contracts executed and to be performed entirely within such State and shall be further subject to the provisions of Sections 10.14 and 10.15 of the Credit Agreement.

		
	8.
	Enforceability.  Should any one or more of the provisions of this Amendment be determined to be illegal or unenforceable as to one or more of the parties hereto, all other provisions nevertheless shall remain effective and binding on the parties hereto.

		
	9.
	References.  All references in any of the Loan Documents to the “Credit Agreement” shall mean the Credit Agreement, as amended hereby.

		
	10.
	Successors and Assigns.  This Amendment shall be binding upon and inure to the benefit of the Company, the Administrative Agent and each of the Lenders, and their respective successors, legal representatives, and assignees to the extent such assignees are permitted assignees as provided in Section 10.06 of the Credit Agreement.

[Signature pages follow.]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to Credit Agreement to be made, executed and delivered by their duly authorized officers as of the day and year first above written.
STARBUCKS CORPORATION
By:     /s/ Richard Lautch                                          
Name:  Richard Lautch
Title:    vice president and treasurer

Starbucks Corporation
Amendment Agreement No. 1
Signature Page
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BANK OF AMERICA, N.A., as 
Administrative Agent
By: /s/  Ronaldo Naval                                                                    
Name:  Ronaldo Naval
Title:    Vice President

Starbucks Corporation
Amendment Agreement No. 1
Signature Page
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BANK OF AMERICA, N.A., as a Lender, L/C Issuer and Swing Line Lender
By: /s/  Sabrina Hassan                                               
Name:  Sabrina Hassan
Title:    Vice President

Starbucks Corporation
Amendment Agreement No. 1
Signature Page
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WELLS FARGO BANK, N.A.
By: /s/  Susan T. Gallagher                                          
Name:  Susan T. Gallagher
Title:    Managing Director

Starbucks Corporation
Amendment Agreement No. 1
Signature Page
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CITIBANK, N.A.
By: /s/  Robert J. Kane                                        
Name:  Robert J. Kane
Title:    Managing Director & VP

Starbucks Corporation
Amendment Agreement No. 1
Signature Page
\52335065

GOLDMAN SACHS BANK USA
By: /s/ Michelle Latzoni                                     
Name: Michelle Latzoni
Title:   Authorized Signatory 

Starbucks Corporation
Amendment Agreement No. 1
Signature Page
\52335065

U.S. BANK NATIONAL ASSOCIATION
By: /s/ Mark D. Rodgers                                  
Name: Mark D. Rodgers
Title:   Vice President 

Starbucks Corporation
Amendment Agreement No. 1
Signature Page
\52335065

THE BANK OF NOVA SCOTIA
By: /s/ Christopher Usas                                 
Name: Christopher Usas
Title:   Director 

Starbucks Corporation
Amendment Agreement No. 1
Signature Page
\52335065

JPMORGAN CHASE BANK, N.A.
By: /s/ Tony Wong                                            
Name: Tony Wong 
Title:   Vice President 

Starbucks Corporation
Amendment Agreement No. 1
Signature Page
\52335065

MORGAN STANLEY BANK, N.A.
By: /s/ Brendan MacBride                                     
Name: Brendan MacBride
Title:   Authorized Signatory 

Starbucks Corporation
Amendment Agreement No. 1
Signature Page
\52335065

THE BANK OF TOKYO-MITSUBISHI UFJ,
LTD.
By: /s/ Christine Howatt                                            
Name: Christine Howatt
Title:   Authorized Signatory 

Starbucks Corporation
Amendment Agreement No. 1
Signature Page
\52335065

HSBC BANK USA, NATIONAL ASSOCIATION
By: /s/ Jason Fuqua                                                        
Name: Jason Fuqua
Title:   Vice President 

Starbucks Corporation
Amendment Agreement No. 1
Signature Page
\52335065

COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A., “RABOBANK NEDERLAND”, NEW YORK BRANCH
By: /s/ Gillian Dickson                                               
Name: Gillian Dickson 
Title:   Executive Director 
By: /s/ Matthew Gregg                                               
Name: Matthew Gregg
Title:   Vice President  

Starbucks Corporation
Amendment Agreement No. 1
Signature Page
\52335065

EXHIBIT E
FORM OF COMPLIANCE CERTIFICATE
Financial Statement Date:  _______________, 20__
To:    Bank of America, N.A., as Administrative Agent
Ladies and Gentlemen:
Reference is made to that certain Credit Agreement, dated as of February 5, 2013 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement”; the terms defined therein being used herein as therein defined), among Starbucks Corporation, a Washington corporation (the “Company”), from time to time party thereto, the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer.
The undersigned Responsible Officer hereby certifies as of the date hereof that he/she is the _____________________________________________ of the Company, and that, as such, he/she is authorized to execute and deliver this Certificate to the Administrative Agent on the behalf of the Company, and that:
[Use following paragraph 1 for fiscal year-end financial statements]
1.    Attached hereto as Schedule 1 are the year-end audited financial statements required by Section 6.01(a) of the Agreement for the fiscal year of the Company ended as of the above date, together with the report and opinion of an independent certified public accountant required by such section.
[Use following paragraph 1 for fiscal quarter-end financial statements]
1.    The Company has delivered the unaudited financial statements required by Section 6.01(b) of the Agreement for the fiscal quarter of the Company ended as of the above date.  Such financial statements fairly present the financial condition, results of operations and cash flows of the Company and its Subsidiaries in accordance with GAAP as at such date and for such period, subject only to normal year-end audit adjustments and the absence of footnotes.
2.    The undersigned has reviewed and is familiar with the terms of the Agreement and has made, or has caused to be made under his/her supervision, a detailed review of the transactions and condition (financial or otherwise) of the Company during the accounting period covered by such financial statements.
3.    A review of the activities of the Company during such fiscal period has been made under the supervision of the undersigned with a view to determining whether during such fiscal period the Company performed and observed all its Obligations under the Loan Documents, and 

E-1
Form of Compliance Certificate
\52335065.1

[select one:]
[to the best knowledge of the undersigned during such fiscal period, the Company performed and observed each covenant and condition of the Loan Documents applicable to it, and no Default has occurred and is continuing.]
--or--
[the following covenants or conditions have not been performed or observed and the following is a list of each such Default and its nature and status:]
4.    The representations and warranties of the Company contained in Article V of the Agreement and in each other Loan Document or in any document furnished at any time under or in connection with the Loan Documents, are true and correct on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that for purposes of this Compliance Certificate, the representations and warranties contained in subsections (a) and (b) of Section 5.05 of the Agreement will be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01 of the Agreement, including the statements in connection with which this Compliance Certificate is delivered.
5.    The financial covenant analyses and information set forth on Schedule 2 attached hereto are true and accurate on and as of the date of this Certificate.
IN WITNESS WHEREOF, the undersigned has executed this Certificate as of _______________, 20__. 
STARBUCKS CORPORATION 
By: __________________________________     
Name: ________________________________     
Title: _________________________________      

E-2
Form of Compliance Certificate
\52335065.1

For the Quarter/Year ended ___________________(“Statement Date”)
SCHEDULE 2 
to the Compliance Certificate 
($ in 000’s)

		
	I.
	Section 7.06 - Consolidated Fixed Charge Coverage Ratio.

	
				
	A.
	Consolidated EBITDA for four consecutive fiscal quarters ending on above date ("Subject Period"):
	 

	 
	1.
	Consolidated Net Income for Subject Period:
	$______________

	 
	2.
	Consolidated Interest Charges for Subject Period:
	$______________

	 
	3.
	Provision for income taxes (excluding tax credits) for Subject Period:
	$______________

	 
	4.
	Depreciation expenses for Subject Period:
	$______________

	 
	5.
	Amortization expenses for Subject Period:
	$______________

	 
	6.
	Fee, charges, reserves, costs or expenses related to litigation, restructuring, severance activities, discontinued operations, casualty events and financing, acquisition or divestiture activities:
	$______________

	 
	7.
	Fees, charges, reserves, costs or expenses related to the Kraft Matter:
	$______________

	 
	8.
	Non-cash reductions of Consolidated Net Income for Subject Period:
	$______________

	 
	9.
	Income tax credits for Subject Period:
	$______________

	 
	10.
	Non-recurring gains increasing Consolidated Net Income (or reducing net loss), which do not represent cash items for Subject Period or any future period:
	$______________

	 
	11.
	Consolidated EBITDA (Lines I.A.1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 - 9 - 10):
	$______________

	B.
	Operating Lease and Rental Expense:
	$______________

	C.
	Consolidated Interest Charges for Subject Period:
	$______________

	D.
	Consolidated Fixed Charge Coverage Ratio ((Lines I.A.11 + I.B) ÷ (Lines I.B + I.C)):
	____________ to 1

	 
	Minimum required:  2.50 to 1.00
	 

E-3
Form of Compliance Certificate
\52335065.1

For the Quarter/Year ended ___________________(“Statement Date”)
SCHEDULE 3 
to the Compliance Certificate 
($ in 000’s)
Consolidated EBITDA 
(in accordance with the definition of Consolidated EBITDA 
as set forth in the Agreement)
	
							
	Consolidated EBITDA
	Quarter       Ended   __________
	Quarter       Ended   __________
	Quarter       Ended   __________
	Quarter       Ended   __________
	Twelve Months Ended __________

	Consolidated Net Income
	 
	 
	 
	 
	 

	+
	Consolidated Interest Charges
	 
	 
	 
	 
	 

	+
	income taxes
	 
	 
	 
	 
	 

	+
	depreciation expense
	 
	 
	 
	 
	 

	+
	amortization expense
	 
	 
	 
	 
	 

	+
	other permitted fees, charges, reserves, costs or expenses
	 
	 
	 
	 
	 

	+
	permitted fees, charges, reserves, costs or expenses related to the Kraft Matter
	 
	 
	 
	 
	 

	+
	non-cash expenses
	 
	 
	 
	 
	 

	-
	income tax credits
	 
	 
	 
	 
	 

	-
	non-recurring gains increasing net income (or reducing net loss)
	 
	 
	 
	 
	 

	=
	Consolidated EBITDA
	 
	 
	 
	 
	 

E-4
Form of Compliance Certificate
\52335065.1

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