First Amendment to Winmark Corporation 2020 Stock Option Plan
Winmark Corporation has amended its 2020 Stock Option Plan following shareholder approval on April 24, 2024. The amendment increases the total number of shares available for stock options under the plan from 100,000 to 200,000. This change allows the company to grant more stock options to eligible participants in the future.
Exhibit 10.1
FIRST AMENDMENT
TO THE
2020 STOCK OPTION PLAN
INTRODUCTION
WHEREAS, at the April 24, 2024 Annual Shareholders Meeting, Winmark Corporation’s shareholders approved an Amendment to the 2020 Stock Option Plan to increase the total number of shares available for options under the plan by 100,000 shares.
AMENDMENT
Section 6 of the 2020 Stock Option Plan is amended by deleting ”One Hundred Thousand (100,000)” where it appears in the second sentence of such section and inserting ”Two Hundred Thousand (200,000)” in lieu thereof.
