In connection with a redesign of the organizational structure at Starbucks Corporation, the chief operating officer role is being eliminated, effective as of October 1, 2022, and John Culver will be departing from the role of group president, North America and chief operating officer on such date. Mr. Culver will serve in an advisory capacity to Starbucks through January 1, 2023. In connection with the elimination of Mr. Culver's current position, the Company will enter into a Separation Agreement and Release with Mr. Culver (Separation Agreement).

The terms of the Separation Agreement will provide that Mr. Culver's employment with Starbucks will terminate on January 1, 2023 (Separation Date) and from October 1, 2022 through the Separation Date, Mr. Culver will remain employed as an advisor in a non-executive capacity at his current base salary.