ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
On December 31, 2008, Unifi, Inc. (the "Registrant") entered into an amendment
to the Unifi, Inc. Supplemental Key Employee Retirement Plan (the "SERP"). The
SERP was primarily amended to make changes to the plan to comply with the
requirements of Section 409A of the Internal Revenue Code of 1986, as amended.
The amendment revised the definition of "Separation from Service" to satisfy the
requirements of Section 409A, and specifies the time period during which
benefits will be paid to participants with regard to termination of employment,
including for death and disability, in order to comply with the 6 month
distribution delay rule under Section 409A. A copy of the amendment to the SERP
is attached as Exhibit 10.1 to this Report and is incorporated herein by
reference. This summary of the material changes to the SERP is qualified in its
entirety by reference to the full terms of the plan, which is attached hereto.
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