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Staples: Press Release Dated October 13, 2015 Exhibit

The following excerpt is from the company's SEC filing.

Exhibit 99.1

Media Contact:

Kirk Saville

508-253-8530

Investor Contact:

Chris Powers

508-253-4632

Staples, Inc. Enhances Corporate Governance with Policy that Limits Executive Severance

- Staples, Inc. (Nasdaq: SPLS) announced today that the company’s Board of Directors has adopted a policy that limits severance benefits for senior executives. Based on the terms of the new policy, the company will not pay any severance benefits under any existing or future employment agreement or severance agreement with an executive officer that exceeds 2.99 times the sum of the executive’s base salary plus target annual cash incentive award, without seeking shareholder approval. In addition, Ron Sargent, Chairman and Chief Executive Officer, has elected to amend his severance agreement to align with the terms of the new...


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