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Amendment to the
National Beverage Corp.
Special Stock Option Plan
This Amendment
(the “Amendment”) is made this 31
st day of December, 2008, by National Beverage
Corp. (the “Corporation”) and is effective
January 1, 2005 to the extent necessary to comply with
Section 409A of the Internal Revenue Code of 1986, as amended
(the “Code”) and otherwise effective December 31,
2008.
WHEREAS ,
the Corporation previously adopted the National Beverage Corp.
Special Stock Option Plan (the “Plan”);
WHEREAS,
the Corporation has been administering the Plan in compliance with
Section 409A of the Code; and
WHEREAS,
the Corporation now desires to amend the Plan in the manner herein
provided to comply with the requirements of Section 409A of
the Code.
NOW,
THEREFORE, BE IT RESOLVED that the Plan be amended as
follows:
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1.
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The
Plan is hereby amended by adding the following as a new
Section 9:
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“9.
Compliance with Section 409A.
9.1 In
General . The Plan is intended to comply in form and operation
with the requirements of Section 409A of the Code and the
applicable regulations and other guidance of general applicability
that is issued thereunder (“Section 409A”). It is
the intention of the Corporation that any amounts considered
deferred compensation pursuant to this Plan shall not be included
in the gross income of the participants or their beneficiaries
until such time as the defer
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