WILD OATS MARKETS INC
SECOND AMENDMENT TO 1996 EQUITY INCENTIVE PLAN
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<TYPE>EX-10.4
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<FILENAME>secondamend96plan.htm
<DESCRIPTION>SECOND AMENDMENT TO 1996 EQUITY INCENTIVE PLAN
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<title>SECOND AMENDMENT TO 1996 EQUITY INCENTIVE PLAN</title>
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<b>
<p ALIGN="CENTER">SECOND AMENDMENT</p>
<p ALIGN="CENTER">TO</p>
<p ALIGN="CENTER">WILD OATS MARKETS, INC.</p>
<p ALIGN="CENTER">1996 EQUITY INCENTIVE PLAN</p>
</b>
<p>&nbsp;</p>
<p ALIGN="JUSTIFY">On August 19, 1996, the Board of Directors of Wild Oats
Markets, Inc. (the &quot;Company&quot;) adopted the Wild Oats Markets, Inc. 1996
Equity Incentive Plan (the &quot;Plan&quot;) under which the Company may, from
time to time, issue options exercisable for shares of the Common Stock, stock
bonuses and rights to purchase restricted Common Stock of the Company.</p>
<p ALIGN="JUSTIFY">&nbsp;</p>
<b>
<p ALIGN="CENTER">RECITALS</p>
</b>
<p ALIGN="JUSTIFY">&nbsp;</p>
    <p ALIGN="JUSTIFY">A. The Board of Directors of the Company resolved on
    February 3, 2000 to increase the number of shares of the Company's Common
    Stock reserved for issuance under the Plan, by 1,560,000 shares.</p>
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    <p ALIGN="JUSTIFY">&nbsp;</p>
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    <p ALIGN="JUSTIFY">B. Shareholder approval to amend the Plan by increasing
    by 1,560,000 the number of shares of the Company's Common Stock reserved for
    issuance under the Plan was requested and given at the Shareholders Annual
    Meeting on May 5, 2000.</p>
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    <p ALIGN="JUSTIFY">&nbsp;</p>
    <p ALIGN="JUSTIFY">&nbsp;</p>
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<b>
<p ALIGN="CENTER">AMENDMENT</p>
</b>
<p ALIGN="JUSTIFY">&nbsp;</p>
    <p ALIGN="JUSTIFY">1. Section 4(a) of the Plan is hereby amended by deleting
    the existing Section 4(a), as previously amended, in its entirety and
    replacing it with the following Section 4(a):</p>
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    <p ALIGN="JUSTIFY">&nbsp;</p>
        <p ALIGN="JUSTIFY">(a) Subject to the provisions of Section 12 relating
        to adjustments upon changes in stock, the stock that may be issued
        pursuant to Stock Awards shall not exceed in the aggregate 4,650,221
        shares of Common Stock (including previously reserved shares). If any
        Stock Award shall for any reason expire or otherwise terminate, in whole
        or in part, without having been exercised in full (or vested in the case
        of Restricted Stock), the stock not acquired under such Stock Award
        shall revert to and again become available for issuance under the Plan.</p>
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        <p ALIGN="JUSTIFY">&nbsp;</p>
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    <p ALIGN="JUSTIFY">2. The foregoing amendment is effective as of May 5,
    2000.</p>
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    <p ALIGN="JUSTIFY">&nbsp;</p>
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3. Except for the above Amendment, all terms and conditions of the Plan are
    unamended and shall remain in full force and effect.
<p ALIGN="JUSTIFY">&nbsp;</p>
<p ALIGN="JUSTIFY"><b>WILD OATS MARKETS, INC.</p>
</b>
<p ALIGN="JUSTIFY">&nbsp;</p>
<p ALIGN="JUSTIFY">By:&nbsp; /s/ <font SIZE="2">Mary Beth Lewis</font></p>
<p ALIGN="JUSTIFY">&nbsp;Title: <font SIZE="2">Secretary</font></p>
<p ALIGN="JUSTIFY">&nbsp;Date: <font SIZE="2">May 5, 2000</font></p>

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