EXHIBIT 10.2
FIRST AMENDMENT TO NEW YORK BAGEL ENTERPRISES, INC.
1996 INCENTIVE PLAN
THIS FIRST AMENDMENT TO NEW YORK BAGEL ENTERPRISES, INC. 1996 INCENTIVE
PLAN ("Agreement") is made and entered into as of this 21st day of May, 1997, by
New York Bagel Enterprises, Inc., a Kansas corporation, and its subsidiaries
(the "Company").
W I T N E S S E T H:
WHEREAS, the Company executed and implemented the New York Bagel
Enterprises, Inc. 1996 Incentive Plan dated as of January 16, 1996 (the "1996
Incentive Plan");
WHEREAS, the Company desires to amend certain provisions of the 1996
Incentive Plan;
WHEREAS, on March 13, 1997, the Board of Directors of the Company adopted a
resolution authorizing the amendment of the 1996 Incentive Plan subject to the
approval of the stockholders; and
WHEREAS, on the date hereof, the stockholders of the Company approved the
amendment of the 1996 Incentive Plan by allocating an additional one hundred
thousand (100,000) common shares to the 1996 Incentive Plan.
NOW, THEREFORE, in consideration of the premises and mutual covenants
herein contained, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Company, intending to be
legally bound, hereby agrees as follows.
1. PARAGRAPH 4 "STOCK SUBJECT TO PLAN." In Paragraph 4, the amount of
"four hundred thousand (400,000) shares" shall be deleted and in its stead the
amount of "five hundred thousand shares (500,000) shares" shall be inserted.
IN WITNESS WHEREOF, this Agreement has been duly executed by the Company as
of and on the date first above written.
NEW YORK BAGEL ENTERPRISES, INC.
ATTEST: By /s/ XXXXXX X. XXXXXX
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Xxxxxx X. Xxxxxx, Chief Executive Officer
By /s/ XXX X. XXXXXX
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Xxx X. Xxxxxx, Secretary
