Summary of KRISPY KREME DOUGHNUTS INC

Item 5.02(e) Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Krispy Kreme Doughnuts, Inc. (the "Company") and Krispy Kreme Doughnut Corporation, a wholly-owned subsidiary of the Company, entered into amendments, each effective as of December 15, 2008, to their employment agreements with James H. Morgan, Chairman, President and Chief Executive Officer of the Company, Douglas R. Muir, Executive Vice President, Chief Financial Officer and Treasurer of the Company, Kenneth J. Hudson, Senior Vice President - Human Resources and Organizational Development of the Company, and Jeffrey B. Welch, Senior Vice President and President - International Store Operations of the Company (collectively, the "Executives"). The Executives' employment agreements were amended to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended. The amendments, among other things, provide for definitive provisions regarding the timing and form of severance payments and revise the definition of "change in control" to comply with Section 409A.

Copies of the amendments to the employment agreements with Messrs. Morgan, Muir, Hudson and Welch are attached hereto as Exhibits 10.1, 10.2. 10.3 and 10.4, respectively, and are incorporated into this Item 5.02(e) by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits. The following exhibits are filed herewith:

Exhibit No.    Description

   10.1        Amendment, dated as of December 15, 2008, to
               Employment Agreement, dated as of February 27,
               2008, among Krispy Kreme Doughnuts, Inc., Krispy
               Kreme Doughnut Corporation and James H. Morgan.

   10.2        Second Amendment, dated as of December 15, 2008,
               to Employment Agreement, dated as of April 23,
               2007, as amended, among Krispy Kreme Doughnuts,
               Inc., Krispy Kreme Doughnut Corporation and
               Douglas R. Muir.

   10.3        Amendment, dated as of December 15, 2008, to
               Employment Agreement, dated as of November 7,
               2007, among Krispy Kreme Doughnuts, Inc., Krispy
               Kreme Doughnut Corporation and Kenneth J. Hudson.

   10.4        Amendment, dated as of December 15, 2008, to
               Employment Agreement, dated as of November 7,
               2007, among Krispy Kreme Doughnuts, Inc., Krispy
               Kreme Doughnut Corporation and Jeffrey B. Welch.