diff --git a/java/compiler/impl/src/com/intellij/compiler/server/BuildManager.java b/java/compiler/impl/src/com/intellij/compiler/server/BuildManager.java
index 019131d051b8..cc2f2c7b8d61 100644
--- a/java/compiler/impl/src/com/intellij/compiler/server/BuildManager.java
+++ b/java/compiler/impl/src/com/intellij/compiler/server/BuildManager.java
@@ -29,7 +29,10 @@ import com.intellij.execution.process.*;
 import com.intellij.execution.ui.RunContentDescriptor;
 import com.intellij.ide.PowerSaveMode;
 import com.intellij.openapi.Disposable;
-import com.intellij.openapi.application.*;
+import com.intellij.openapi.application.Application;
+import com.intellij.openapi.application.ApplicationManager;
+import com.intellij.openapi.application.ModalityState;
+import com.intellij.openapi.application.PathManager;
 import com.intellij.openapi.compiler.CompileContext;
 import com.intellij.openapi.components.ApplicationComponent;
 import com.intellij.openapi.diagnostic.Logger;
@@ -212,6 +215,7 @@ public class BuildManager implements ApplicationComponent{
   private final BuildMessageDispatcher myMessageDispatcher = new BuildMessageDispatcher();
   private volatile int myListenPort = -1;
   private volatile CmdlineRemoteProto.Message.ControllerMessage.GlobalSettings myGlobals;
+  private int myGlobalsStamp = -1;
   @Nullable
   private final Charset mySystemCharset;
 
@@ -534,11 +538,7 @@ public class BuildManager implements ApplicationComponent{
             return;
           }
 
-          CmdlineRemoteProto.Message.ControllerMessage.GlobalSettings globals = myGlobals;
-          if (globals == null) {
-            globals = buildGlobalSettings();
-            myGlobals = globals;
-          }
+          final CmdlineRemoteProto.Message.ControllerMessage.GlobalSettings globals = buildGlobalSettings();
           CmdlineRemoteProto.Message.ControllerMessage.FSEvent currentFSChanges;
           final SequentialTaskExecutor projectTaskQueue;
           synchronized (myProjectDataMap) {
@@ -687,14 +687,22 @@ public class BuildManager implements ApplicationComponent{
     return "com.intellij.compiler.server.BuildManager";
   }
 
-  private static CmdlineRemoteProto.Message.ControllerMessage.GlobalSettings buildGlobalSettings() {
+  private CmdlineRemoteProto.Message.ControllerMessage.GlobalSettings buildGlobalSettings() {
+    final PathMacrosImpl pathVars = PathMacrosImpl.getInstanceEx();
+
+    final CmdlineRemoteProto.Message.ControllerMessage.GlobalSettings cached = myGlobals;
+    if (cached != null && myGlobalsStamp == pathVars.getModificationStamp()) {
+      return cached;
+    }
+    myGlobals = null; // ensure the cache is cleared and stamp is current
+    myGlobalsStamp = pathVars.getModificationStamp();
+
     final Map<String, String> data = new HashMap<String, String>();
 
     for (Map.Entry<String, String> entry : PathMacrosImpl.getGlobalSystemMacros().entrySet()) {
       data.put(entry.getKey(), FileUtil.toSystemIndependentName(entry.getValue()));
     }
 
-    final PathMacros pathVars = PathMacros.getInstance();
     for (String name : pathVars.getAllMacroNames()) {
       final String path = pathVars.getValue(name);
       if (path != null) {
@@ -717,7 +725,7 @@ public class BuildManager implements ApplicationComponent{
       }
     }
 
-    return cmdBuilder.build();
+    return myGlobals = cmdBuilder.build();
   }
 
   private OSProcessHandler launchBuildProcess(Project project, final int port, final UUID sessionId) throws ExecutionException {
diff --git a/platform/projectModel-impl/src/com/intellij/application/options/PathMacrosImpl.java b/platform/projectModel-impl/src/com/intellij/application/options/PathMacrosImpl.java
index cc0ab83b813e..ed100e4dfed5 100644
--- a/platform/projectModel-impl/src/com/intellij/application/options/PathMacrosImpl.java
+++ b/platform/projectModel-impl/src/com/intellij/application/options/PathMacrosImpl.java
@@ -46,6 +46,7 @@ public class PathMacrosImpl extends PathMacros implements ApplicationComponent,
   private static final Logger LOG = Logger.getInstance("#com.intellij.application.options.PathMacrosImpl");
   private final Map<String, String> myLegacyMacros = new HashMap<String, String>();
   private final Map<String, String> myMacros = new HashMap<String, String>();
+  private int myModificationStamp = 0;
   private final ReentrantReadWriteLock myLock = new ReentrantReadWriteLock();
   private final List<String> myIgnoredMacros = ContainerUtil.createLockFreeCopyOnWriteList();
 
@@ -196,6 +197,16 @@ public class PathMacrosImpl extends PathMacros implements ApplicationComponent,
     if (!myIgnoredMacros.contains(name)) myIgnoredMacros.add(name);
   }
 
+  public int getModificationStamp() {
+    myLock.readLock().lock();
+    try {
+      return myModificationStamp;
+    }
+    finally {
+      myLock.readLock().unlock();
+    }
+  }
+
   public static Map<String, String> getGlobalSystemMacros() {
     final Map<String, String> map = new HashMap<String, String>();
     map.put(APPLICATION_HOME_MACRO_NAME, PathManager.getHomePath());
@@ -236,6 +247,7 @@ public class PathMacrosImpl extends PathMacros implements ApplicationComponent,
       myMacros.clear();
     }
     finally {
+      myModificationStamp++;
       myLock.writeLock().unlock();
     }
   }
@@ -259,6 +271,7 @@ public class PathMacrosImpl extends PathMacros implements ApplicationComponent,
       myMacros.put(name, value);
     }
     finally {
+      myModificationStamp++;
       myLock.writeLock().unlock();
     }
   }
@@ -271,6 +284,7 @@ public class PathMacrosImpl extends PathMacros implements ApplicationComponent,
       myMacros.remove(name);
     }
     finally {
+      myModificationStamp++;
       myLock.writeLock().unlock();
     }
   }
@@ -283,6 +297,7 @@ public class PathMacrosImpl extends PathMacros implements ApplicationComponent,
       LOG.assertTrue(value != null);
     }
     finally {
+      myModificationStamp++;
       myLock.writeLock().unlock();
     }
   }
@@ -322,6 +337,7 @@ public class PathMacrosImpl extends PathMacros implements ApplicationComponent,
       }
     }
     finally {
+      myModificationStamp++;
       myLock.writeLock().unlock();
     }
   }