Exhibit 10.1


                      P.A.M. TRANSPORTATION SERVICES, INC.
                       AMENDMENT TO 1995 STOCK OPTION PLAN
                      As adopted by the Board of Directors
                               On August 28, 2002



                              ARTICLE I - PURPOSE


The  Board  of Directors of P.A.M. Transportation Services, Inc. (the "Company")
is  amending  the  Company's  1995 Stock Option Plan (as previously amended, the
"Plan")  to  update  it,  and  to improve certain of its provisions so that they
better serve the interests of the Company and its shareholders.


                            ARTICLE II - AMENDMENTS


2.1     Amendment to Section 2(b) of the Plan.
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Section 2(b) of the Plan is amended by deleting the present text of Section 2(b)
and  inserting  the  following  new  text  in  its  place:

(b)  "Board of Directors" shall mean the Board of Directors of the Company.


2.2     Amendment to Section 2(g) of the Plan.
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Section 2(g) of the Plan is amended by deleting the present text of Section 2(g)
and inserting the following new text in its place:

(g)  "Market  Price"  on a particular date shall mean the average of the highest
and  lowest  sales  prices  of shares of the Common Stock reported on The Nasdaq
Stock  Market  (or any successor exchange or system that is the primary exchange
or system for trading of the Common Stock) on such date, or if there was no sale
of  any  shares of Common Stock reported on The Nasdaq Stock Market (or any such
successor)  on  such  date,  then on the last preceding date on which The Nasdaq
Stock Market (or any such successor) was open for trading and on which shares of
the  Common  Stock  were  traded.  If for any reason it is not practical for the
Market  Price  to  be determined as provided for above in this paragraph, Market
Price  shall  mean  the  fair  market  value  of  the  Company's Common Stock as
determined  by  the  Board  of Directors or the Committee, acting in good faith,
under  any  method consistent with the Code, or Treasury Regulations thereunder,
as  the  Board  of Directors or the Committee shall in its discretion select and
apply  at  the  time  of  the  grant  of  the  option  concerned. Subject to the
foregoing,  the Board of Directors or the Committee, in fixing the market price,
shall  have  full  authority  and discretion and be fully protected by doing so.


2.3     Amendment to Section 5 of the Plan.
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Section  5  of  the Plan is amended by deleting the first paragraph of Section 5
and inserting the following new paragraph in its place:

The  Plan shall be administered by the Board of Directors of the Company, or the
Committee.  The  Committee  shall  be comprised of not less than two (2) members
appointed  by the Board of Directors of the Company from among its members, each
of  whom  qualifies as a "Non-Employee Director" as that term is defined in Rule
16b-3  issued  under  the  Securities  Exchange  Act  of  1934,  as amended (the
"Exchange Act").


                  ARTICLE III - EFFECTIVENESS OF THIS AMENDMENT


This  Amendment was adopted by the Board of Directors on August 28, 2002. Except
as specifically amended by this Amendment, the Plan, as previously adopted shall
remain in full force and effect.