Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) On June 1, 2009, the Board of Directors of Nathan's Famous, Inc. adopted a
stock retention plan (the "Plan") that applies to its officers and
directors. Pursuant to the Plan, at the time that any officer or director
exercises a stock option, he will be required to retain 33 1/3% of the total
number of option shares then-exercised. In addition, officers and directors are
required to retain 33 1/3% of the shares owned on the date of adoption of the
Plan. Notwithstanding the terms of the Plan, the Board may determine to waive
the requirement that shares be retained in the event that an officer or director
is experiencing an immediate financial need.
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