SEATTLE — Starbucks Corp. has given the chief executive it fired this month a severance package that includes $1.25 million the coffee retailer will pay out over the next year.

The agreement, disclosed in a filing with the Securities and Exchange Commission yesterday, also allows Jim Donald to exercise options for 1.45 million shares of stock at prices of either $10.86 or $15.23.

Based on yesterday's closing stock price of $19.66, those options are worth $10.14 million,

The deal, reached about two weeks after Donald was fired, gives him three months past his Jan. 7 firing date to exercise those options.

Donald, 53, has options to buy nearly 855,500 additional Starbucks shares, but those are essentially worthless because the strike prices are greater than the current stock price.

The world's largest chain of coffee houses announced Jan. 7 that Chairman Howard Schultz was returning as CEO as part of a series of moves aimed at revitalizing the company.

Donald received compensation Starbucks valued at $7.4 million last year.

He earned a $1 million salary, but his package was boosted by stock options worth $6.3 million when they were granted and perquisites worth about $37,000.