Document:

<PAGE>
                                                                    Exhibit 10.1

           CONDITIONAL WAIVER, AMENDMENT NO. 5 TO CREDIT AGREEMENT AND
                      AMENDMENT NO. 1 TO SECURITY AGREEMENT

                  CONDITIONAL WAIVER AND AMENDMENT NO. 5, dated as of August 22,
2001 (this "Waiver and Amendment"), to the CREDIT AGREEMENT, dated as of May 21,
1998, among Apogee Enterprises, Inc., a Minnesota corporation (the "Borrower"),
each of the lenders from time to time parties thereto (collectively, the
"Lenders"), and The Bank of New York, as L/C Issuer, Administrative Agent for
the Lenders and Swing Line Lender, as such Credit Agreement has been amended
from time to time (the "Credit Agreement").

                  AMENDMENT NO. 1, dated as of August 22, 2001 to the SECURITY
AGREEMENT, dated as of June 13, 2000, among the Borrower, the Debtors parties
thereto, and The Bank of New York, as Administrative Agent and Collateral Agent
(the "Security Agreement").

                                    RECITALS
                                    --------

         A. The Borrower has requested an amendment of the Credit Agreement and
Security Agreement to clarify provisions related to the release of collateral
and has requested a waiver under certain provisions of the Credit Agreement in
order to undertake certain transactions described in this Waiver and Amendment.

         B.  The Lenders desire to clarify the provisions related to the release
of collateral and to grant a conditional waiver for the transactions described
in this Waiver and Amendment.

         NOW, THEREFORE, the parties hereto hereby agree as follows:

              Section 1. Amendment to Credit Agreement.
                         -----------------------------

              Pursuant to Section 11.05 of the Credit Agreement, Section
11.05(a) of the Credit Agreement shall be amended to read in its entirety as
follows:

              "(a) Any provision of this Agreement may be amended, modified,
         supplemented or waived, but only by a written amendment or supplement,
         or written waiver, signed by the Borrower and either the Required
         Lenders (and, if the rights or duties of the Administrative Agent are
         affected thereby, by the Administrative Agent), or the Administrative
         Agent with the consent of the Required Lenders; provided, however, that
         no such amendment, modification, or waiver shall, unless signed by all
         the Lenders, or by the Administrative Agent with the consent of all the
         Lenders, (i) increase or decrease (other than a pro rata decrease) the
         Commitment of any Lender or subject any Lender to any additional
         obligation, (ii) reduce the principal of or rate of interest on any
         Loan or any fees hereunder, (iii) postpone any scheduled payment of
         principal of or interest on any Loan or any fees hereunder, (iv)
         postpone any reduction or termination of any Commitment or any
         mandatory prepayment related thereto, (v) release the Subsidiary
         Guaranties, (vi) change the definition of "Required Lenders" or (vii)
         amend, modify, supplement or waive the provisions of this Section
         11.05."
<PAGE>

                  Section 2. Amendment to Security Agreement.
                             -------------------------------

                  Pursuant to Sections 14(a) and 14(b) of the Security
Agreement, Section 3(f) of the Security Agreement shall be amended to read in
its entirety as follows:

                  "(f) Subject to Sections 4(b), 5(a), 6(b), 6(c), 7, and 9(c)
         hereof, and except for the transfer of assets as expressly and
         specifically permitted under the terms of the Credit Agreement and this
         Agreement, each Debtor agrees it will not, without the Agent's prior
         written consent, sell, assign, mortgage, lease or otherwise dispose of
         the Collateral or any interest therein. For transfers of assets
         specifically permitted by this Section 3(f), upon reasonable request by
         the Borrower, the Agent will have the authority to execute and deliver
         any certificates, amendments to financing statements or other similar
         documents or instruments necessary or required to release the security
         interest of the Agent and the Secured Creditors in the assets to be
         transferred, provided that the Borrower has delivered to the Agent a
         written communication acceptable to the Agent certifying compliance of
         such transfer with this Section and the conditions on such transfer
         imposed by this Agreement or the Credit Agreement."

                  Section 3. Sale of Assets Release.
                             ----------------------

                  The parties understand that the Borrower and/or certain of its
Subsidiaries may be in the process of selling certain real property currently
owned by them: (1) excess land owned by Tru Vue, Inc., (2) 23 Harmon Glass
Company retail shops (the "Retail Shops") and (3) 5 Harmon Autoglass
Distribution Depots (the "Distribution Depots"). For the avoidance of doubt, the
Secured Creditors under the Security Agreement release any security interest in
any equipment or inventory located at, or to be sold with, the Retail Shops or
Distribution Depots, provided that such sale is conducted in compliance with
Section 3(f) of the Security Agreement and Section 7.02(a) of the Credit
Agreement.

                  Section 4. Conditional Waiver on Mortgage Transactions.
                             -------------------------------------------

                  (a)  Understandings. The parties understand the following:

                  (1)      The Borrower and certain of its Subsidiaries desire
                           to enter into certain mortgage transactions on real
                           property owned by the Borrower and/or these
                           Subsidiaries and grant mortgage liens in addition to
                           any liens already in existence;

                  (2)      Such proposed transactions may take the form of
                           traditional mortgage liens, sale-leaseback
                           transactions, or sale-leaseback transactions through
                           a special purpose entity (the "Mortgage
                           Transactions"); and

                  (3)      This Waiver and Amendment is being executed and
                           delivered prior to the Mortgage Transactions being
                           negotiated or resulting in definitive documentation.

                  (b) Waivers. Pursuant to Section 11.05 of the Credit
Agreement, the Lenders hereby waive (insofar as necessary to permit the Borrower
and its Subsidiaries to negotiate, draft and execute and perform under documents
related to, and structure and  participate in  transactions
<PAGE>

contemplated by the documents related to, any Mortgage Transaction) the
restrictions contained in

                  (1) Section 7.02(a) of the Credit Agreement on sales,
                      transfers and leases of property;

                  (2) Section 7.02(b) of the Credit Agreement on liens;

                  (3) Section 7.02(c) of the Credit Agreement on additional
                      indebtedness; and

                  (4) Section 7.02(d) of the Credit Agreement on investments and
                      Section 7.02(g) of the Credit Agreement on stock issuances
                      of Subsidiaries, but only insofar as to permit the
                      Borrower or any one of its Subsidiaries to create a
                      special purpose vehicle deemed necessary or advisable by
                      the Borrower to execute a Mortgage Transaction;

in each case subject to the conditions described in Section 4(c) of this Waiver
and Amendment. Anything herein or elsewhere to the contrary notwithstanding,
such waivers are granted only insofar as necessary to permit the Mortgage
Transactions.

                  (c) Conditions. The waivers in Section 4(b) above will not be
effective, and shall become immediately null, void and unenforceable in their
entirety, if any of the following conditions are not satisfied:

                  (1) in the aggregate, the Mortgage Transactions may not relate
                      to real property having a Fair Market Value (as certified
                      under the Credit Agreement) of greater than $60 million
                      and any New Indebtedness from the Mortgage Transactions
                      may not be in an amount greater than $50 million;

                  (2) notwithstanding Section 7.02(a) of the Credit Agreement
                      and, in particular, its conditions for sale-leaseback
                      transactions, all of the net proceeds (100%) of any
                      Mortgage Transaction shall be deemed to be proceeds of New
                      Indebtedness, not proceeds of a sale, transfer or lease,
                      and must be used by the Borrower and its Subsidiaries to
                      (i) reduce the Total Commitment by an amount equal to such
                      net proceeds in accordance with Section 2.03(c) of the
                      Credit Agreement, and (ii) prepay Loans in an amount equal
                      to such net proceeds in accordance with Section 2.05(b) of
                      the Credit Agreement not later than the close of business
                      on the third Business Day after the receipt of such
                      proceeds;

                  (3) transfers and leases of real property will be permitted
                      between the Borrower or any of its Subsidiaries and an
                      Affiliate, but only insofar as to permit the execution of
                      a Mortgage Transaction involving a special purpose entity
                      that is an Affiliate or as otherwise permitted under the
                      Credit Agreement;

                  (4) prior to execution of any documents related to a Mortgage
                      Transaction, the Borrower shall provide a copy of all
                      draft documents (including any
<PAGE>

                      and all schedules or exhibits thereto) to the
                      Administrative Agent and the Agent, in its sole
                      discretion, shall have determined (as Administrative
                      promptly as practicable after receipt of such documents)
                      that (i) the documents and provisions contained therein
                      are consistent with the requirements of the Credit
                      Agreement as modified or waived by this Waiver and
                      Amendment; and (ii) the Mortgage Transaction described by
                      such documents satisfies all of the conditions set forth
                      in this Section 4(c); and

                  (5) the Borrower or the appropriate Subsidiary executes a
                      Mortgage Transaction that satisfies all of the conditions
                      set forth in this Section 4(c).

                  Section 5. Miscellaneous.
                             -------------

                  (a) All capitalized terms not otherwise defined in this Waiver
and Amendment shall have the meanings ascribed to them in the Credit Agreement
or the Security Agreement.

                  (b) All provisions in Article XI of the Credit Agreement and
Section 14 of the Security Agreement shall apply to this Waiver and Amendment
with equal force and effect as if restated completely herein.

                  (c) Except as set forth in this Waiver and Amendment, the
Credit Agreement and the Security Agreement shall remain in full force and
effect without amendment, modification or waiver. Execution and delivery hereof
by a Lender or the Agent shall not preclude the exercise by such Lender or the
Agent of any rights under the Credit Agreement or the Security Agreement (each
as amended by this Waiver and Amendment).

                  (d) This Waiver and Amendment shall be governed by and
construed in accordance with the laws of the State of New York applicable to
contracts made and to be performed entirely within such state.

                  (e) This Waiver and Amendment shall be effective on the first
date as of which a counterpart hereof has been executed and delivered to the
Administrative Agent by the Borrower and all of the Lenders under the Credit
Agreement.

                      [THE NEXT PAGE IS A SIGNATURE PAGE.]
<PAGE>

                       [CREDIT AGREEMENT SIGNATURE PAGES]

                  IN WITNESS WHEREOF, the parties to the Credit Agreement have
caused this Waiver and Amendment to be duly executed as of the date first above
written.

                              APOGEE ENTERPRISES, INC.

                              By:  /s/ Gary R. Johnson
                                  --------------------------------------
                                   Name:  Gary R. Johnson
                                   Title:  V.P. - Treasurer

                              THE BANK OF NEW YORK, as
                              Administrative Agent, L/C Issuer and Swing Line
                              Lender in the Credit Agreement

                              By:    /s/ John-Paul Marotta
                                  --------------------------------------
                                   Name:  John-Paul Marotta
                                   Title:  Vice President

                              LENDERS (and other Agents)
                              --------------------------

                              THE BANK OF NEW YORK, as a Lender in
                              the Credit Agreement

                              By:    /s/ John-Paul Marotta
                                  --------------------------------------
                                   Name:  John-Paul Marotta
                                   Title:  Vice President

                              U.S. BANK NATIONAL ASSOCIATION, as|
                              Syndication Agent and a Lender in the Credit
                              Agreement

                              By:    /s/ Matthew A. Ross
                                  --------------------------------------
                                   Name:  Matthew A. Ross
                                   Title:  Sr. Vice President

                              HARRIS TRUST AND SAVINGS BANK, as
                              Documentation Agent and a Lender in the Credit
                              Agreement

                              By:     /s/ Andrew T. Claar
                                  --------------------------------------
                                   Name:  Andrew T. Claar
                                   Title:  Vice President
<PAGE>

                              THE BANK OF NOVA SCOTIA, as Co-Agent
                              and a Lender in the Credit Agreement

                              By:    /s/ M.A. Thomas
                                  --------------------------------------
                                   Name:  M.A. Thomas
                                   Title:  Senior Manager

                              COMERICA BANK, as Co-Agent and a Lender
                              in the Credit Agreement

                              By:    /s/ Timothy O'Rourke
                                  --------------------------------------
                                   Name:  Timothy O'Rourke
                                   Title:  Vice President

                              SUMITOMO MITSUI BANKING CORPORATION,
                              as a Lender in the Credit Agreement

                              By:    /s/ John H. Kemper
                                  --------------------------------------
                                   Name:  John H. Kemper
                                   Title:  Senior Vice President

                              WELLS FARGO BANK, N.A., as a Lender in
                              the Credit Agreement

                              By:    /s/  Molly S. Van Metre
                                  --------------------------------------
                                   Name:  Molly S. Van Metre
                                   Title:  Vice President and Senior Banker

                              WELLS FARGO BANK, N.A., as a Lender in
                              the Credit Agreement

                              By:    /s/  Chad M. Kortgard
                                  --------------------------------------
                                   Name:  Chad M. Kortgard
                                   Title:  Assistant Vice President

                              REGIONS BANK, as a Lender in the Credit
                              Agreement

                              By:    /s/ Tammy M. Foschee
                                  --------------------------------------
                                   Name:  Tammy M. Foschee
                                   Title:  Assistant Vice President
<PAGE>

                      [SECURITY AGREEMENT SIGNATURE PAGES]

                  IN WITNESS WHEREOF, the parties to the Security Agreement have
caused this Waiver and Amendment to be duly executed as of the date first above
written.

                              DEBTORS:
                              -------

                              APOGEE ENTERPRISES, INC.

                              By:    /s/ Gary R. Johnson
                                  --------------------------------------
                                   Name:  Gary R. Johnson
                                   Title:  V.P.  - Treasurer

                              HARMON, INC.

                              By:    /s/ Gary R. Johnson
                                  --------------------------------------
                                   Name:  Gary R. Johnson
                                   Title:  V.P.  - Treasurer

                              VIRACON/CURVLITE, INC.

                              By:    /s/ Gary R. Johnson
                                  --------------------------------------
                                   Name:  Gary R. Johnson
                                   Title:  V.P.  - Treasurer

                              APOGEE WAUSAU GROUP, INC.

                              By:    /s/ Gary R. Johnson
                                  --------------------------------------
                                   Name:  Gary R. Johnson
                                   Title:  V.P.  - Treasurer

                              VIRACON, INC.

                              By:    /s/ Gary R. Johnson
                                  --------------------------------------
                                   Name:  Gary R. Johnson
                                   Title:  V.P.  - Treasurer

                              VIRATEC THIN FILMS, INC.

                              By:    /s/ Gary R. Johnson
                                  --------------------------------------
                                   Name:  Gary R. Johnson
                                   Title:  V.P.  - Treasurer
<PAGE>

                              TRU VUE, INC.

                              By:    /s/ Gary R. Johnson
                                  --------------------------------------
                                   Name:  Gary R. Johnson
                                   Title:  V.P.  - Treasurer

                              HARMON GLASS COMPANY

                              By:    /s/ Gary R. Johnson
                                  --------------------------------------
                                   Name:  Gary R. Johnson
                                   Title:  V.P.  - Treasurer

                              VIRACON GEORGIA, INC.

                              By:    /s/ Gary R. Johnson
                                  --------------------------------------
                                   Name:  Gary R. Johnson
                                   Title:  V.P.  - Treasurer

                              Accepted and Agreed to in New York,
                              New York as of the date first above written

                              THE BANK OF NEW YORK,
                              as Agent for the Secured Creditors

                              By:    /s/ Paul Marotta
                                  --------------------------------------
                                   Name:  John-Paul Marotta
                                   Title:  Vice President<PAGE>

                                                                  Exhibit 10.14

                              AMENDED AND RESTATED
                              STOCKHOLDER AGREEMENT
                              ---------------------

         AMENDED AND RESTATED STOCKHOLDER AGREEMENT (this "Agreement") dated
as of November 7, 2000 among AMCON Distributing Company, a Delaware
corporation ("AMCON"), Andrew Merger Sub, Inc., a Delaware corporation and a
wholly-owned subsidiary of AMCON ("Merger Sub"), and the stockholders of
Hawaiian Natural Water Company, Inc., a Hawaii corporation (the "Company" or
"HNWC"), named on Schedule I hereto (individually, a "Stockholder" and
collectively, the "Stockholders").

         WHEREAS, AMCON and Merger Sub propose to enter into an Agreement and
Plan of Merger dated as of the date hereof (as amended from time to time, the
"Merger Agreement"; capitalized terms used but not defined herein shall have
the meanings set forth in the Merger Agreement) with the Company which
provides, among other things, that the Company will merge with and into
Merger Sub (the "Merger"); and

         WHEREAS, as of the date hereof, each Stockholder owns of record or
beneficially the respective number of shares of the Company Common Stock set
opposite such Stockholder's name on Schedule I hereto; and

         WHEREAS, as an essential condition to the willingness of AMCON and
Merger Sub to enter into the Merger Agreement, AMCON and Merger Sub have
requested that each Stockholder agree, and in order to induce AMCON and
Merger Sub to enter into the Merger Agreement, each Stockholder has agreed,
to enter into this Agreement with respect to (i) all the shares of the
Company Common Stock owned beneficially and of record by such Stockholder as
of the date hereof or of which such Stockholder may hereafter acquire record
or beneficial ownership (the "Shares") and (ii) any other securities owned of
record or beneficially by such Stockholder as of the date hereof or of which
such Stockholder may hereafter acquire ownership of record or beneficially
which may be voted by or at the direction or on behalf of the Stockholder at
any meeting of the Company stockholders or with respect to which action taken
without a meeting may be authorized by or at the direction or on behalf of
such Stockholder by written consent (the "Other Securities");

         NOW, THEREFORE, in consideration of the foregoing and the mutual
covenants and agreements contained herein and intending to be legally bound
hereby, the parties hereto agree as follows:

                                   ARTICLE I

                                VOTING AGREEMENT

         Section 1.1    Voting Agreement. Each Stockholder hereby agrees that,
                        ----------------
with respect to the Company Stockholders Meeting and any other meeting of the
Company stockholders or any action to be taken by written consent the
Stockholder shall:

                (a)     appear in person or by proxy (or use its reasonable
         best efforts to cause the holder of record on any applicable record
         date to appear in person or by proxy) for the

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<PAGE>

         purpose of obtaining a quorum at the Company Stockholders Meeting
         and at any adjournment or postponement thereof;

                (b)     vote (or cause to be voted) the Shares and the Other
         Securities (or, as applicable, shall execute or cause to be executed
         written consents in respect of the Shares and the Other Securities)
         in favor of the approval and adoption of the Merger Agreement, the
         Merger and, any other transactions or matters contemplated by the
         Merger Agreement, and any actions required in furtherance thereof
         and hereof; and

                (c)     not encourage any holder of securities of the Company
         to vote against the approval and adoption of the Merger Agreement,
         the Merger or any other transactions or matters contemplated by the
         Merger Agreement, and not take any action, or permit any action to
         be taken, that would reasonably be expected to impede, interfere, or
         be inconsistent with, delay, postpone, discourage, disparage or
         otherwise adversely affect, the Merger Agreement, the Merger, this
         Agreement and any other transactions or matters contemplated by the
         Merger Agreement, or a Stockholder's obligations hereunder,
         including, but not limited to, the obligations of each Stockholder
         to vote for the approval and adoption of the Merger Agreement, the
         Merger and any other transactions or matters contemplated by the
         Merger Agreement, and to use its reasonable best efforts to
         consummate and make effective the transactions contemplated by this
         Agreement, provided that nothing in this Section 1.1 shall limit any
         individual Stockholder who is a director of the Company from
         exercising or performing any of such Stockholder's rights or duties
         solely in such Stockholder's capacity as a director of the Company.

         Section 1.2    Irrevocable Proxy. In order to ensure that the voting
                        -----------------
agreement set forth in Section 1.1 and the other obligations of each
Stockholder hereunder will be carried out, each Stockholder hereby grants an
irrevocable proxy, coupled with an interest, in the form attached hereto as
Exhibit A (the "Irrevocable Proxy") to, and hereby constitutes and appoints
AMCON and each of its officers as such Stockholder's sole and exclusive
attorney and proxy pursuant to the provisions of Section 414-33(c) of the
Hawaii Business Corporations Act, with full power of substitution, (a) to
vote and otherwise act (by written consent or otherwise) with respect to the
Shares and the Other Securities which such Stockholder is entitled to vote at
the Company Stockholders Meeting and any other meeting of the Company
Stockholders, or pursuant to any written consent in lieu of a meeting of the
Company Stockholders, and at any adjournment or postponement thereof on the
matters and in the manner specified in Section 1.1 and (b) to execute and
deliver any and all further consents, instruments or other agreements or
documents and take any and all such reasonable actions in connection with or
in furtherance of the obligations of such Stockholder set forth in this
Agreement and in furtherance of each of the transactions. THIS PROXY AND
POWER OF ATTORNEY IS IRREVOCABLE AND COUPLED WITH AN INTEREST. Such
Stockholder hereby revokes all other proxies and powers of attorney with
respect to the Shares and the Other Securities that such Stockholder may have
heretofore appointed or granted that would prevent such Stockholder from
performing its obligations hereunder, and no subsequent proxy or power of
attorney shall be given or written consent executed (and if given or
executed, shall not be effective) by such Stockholder with respect thereto.
All authority herein conferred or agreed to be conferred shall survive the
death or incapacity of any Stockholder and any obligation of such Stockholder
under this Agreement

                                      2

<PAGE>
<PAGE>

shall be binding upon the heirs, personal representatives, successors and
permitted assigns of such Stockholder.

         Section 1.3    Evaluation of Investment. Each Stockholder, by reason
                        ------------------------
of such Stockholder's knowledge and experience in financial and business
matters, is capable of evaluating the merits and risks of the investment in
AMCON Common Stock to be received pursuant to the Merger, contemplated by the
Merger Agreement.

         Section 1.4    Documents Delivered. The Stockholder acknowledges
                        -------------------
receipt of copies of the following documents:

                (a)     the Merger Agreement and all schedules and exhibits
         thereto;

                (b)     AMCON's Annual report on Form 10-K for the fiscal year
         ended September 30, 1999;

                (c)     AMCON's Proxy Statement dated January 24, 2000;

                (d)     each report filed with the Securities and Exchange
         Commission by AMCON on Forms 8-K and 10-Q since September 30, 1999;
         and

                (e)     any other information reasonably requested by any
         Stockholder concerning an evaluation of an investment in AMCON
         Common Stock.

Each Stockholder also acknowledges that it possesses the information relating
to the Company which such Stockholder deems relevant to its investment in
AMCON Common Stock should the Merger be consummated.

                                   ARTICLE II

                         REPRESENTATIONS AND WARRANTIES

         Section 2.1    Representations and Warranties of Each Stockholder.
                        --------------------------------------------------
Except as set forth on the disclosure letter attached hereto, each
Stockholder represents and warrants to AMCON and Merger Sub as follows:

                (a)     Each Stockholder (if it is a corporation, general or
         limited partnership, limited liability company or other legal
         entity) is duly organized, validly existing and in good standing
         under the laws of the jurisdiction of its incorporation or
         organization. Such Stockholder has the requisite power and authority
         (and if a natural person, the legal capacity) to execute and deliver
         this Agreement and to perform its obligations hereunder. The
         execution and delivery of this Agreement and the consummation of the
         transactions contemplated hereby have been duly authorized by such
         Stockholder and no other proceedings on the part of such Stockholder
         are necessary to authorize this Agreement and the consummation of
         the transactions contemplated hereby. This Agreement has been duly
         executed and delivered by such Stockholder and, assuming that this
         Agreement constitutes a valid and binding agreement of AMCON, is a
         legal, valid and binding obligation of such Stockholder, enforceable
         against such Stockholder in accordance with

                                      3

<PAGE>
<PAGE>

         its terms, except as such enforceability may be limited by
         bankruptcy, insolvency, reorganization, moratorium and similar laws,
         now or hereafter in effect, relating to or affecting the rights and
         remedies of creditors generally, and to general principles of equity
         (regardless of whether such enforceability is considered in a
         proceeding in equity or a law) and to general principles governing
         the duties of fiduciaries.

                (b)     The execution and delivery of this Agreement by such
         Stockholder does not, and the performance of this Agreement by such
         Stockholder will not, conflict with, result in any breach of or
         constitute a default (or an event that with notice or lapse of time
         or both would become a default) under, or give to others any rights
         of termination, amendment, acceleration or cancellation of, or
         require payment under, or result in the creation of any Encumbrances
         (as defined in Section 5.1 below) on any of the assets of such
         Stockholder pursuant to any contract or other instrument to which
         such Stockholder is a party or by which such Stockholder or any of
         such Stockholder's assets are bound, except for any thereof that
         would not reasonably be expected to materially impair the ability of
         such Stockholder to perform such Stockholder's obligations hereunder
         or to consummate the transactions contemplated hereby.

                (c)     There is no suit, action, investigation or proceeding
         pending or, to the knowledge of such Stockholder, threatened against
         such Stockholder at law or in equity before or by any Governmental
         Entity that would reasonably be expected to materially impair the
         ability of such Stockholder to perform such Stockholder's
         obligations hereunder or to consummate the transactions contemplated
         hereby.

                (d)     Such Stockholder owns beneficially and of record the
         shares of Company Common Stock set forth opposite such Stockholder's
         name on Schedule I hereto (the "Existing Shares"). The Existing
         Shares constitute all the shares of the Company Common Stock owned
         of record or beneficially by such Stockholder. Such Stockholder has
         sole voting power, sole power of disposition and all other
         stockholder rights with respect to all the Existing Shares, with no
         restrictions, other than pursuant to applicable securities laws, on
         such Stockholder's rights of disposition pertaining thereto. Such
         Stockholder owns options or warrants to purchase or other securities
         convertible or exchangeable into or exercisable for the number of
         shares of such Common Stock set forth opposite such Stockholder's
         name on Schedule I hereto (collectively, the "Derivative
         Securities"). None of the Existing Shares or Derivative Securities
         is subject to (i) any right of first refusal or first offer, (ii)
         right to purchase, acquire or vote, or (iii) proxy or power of
         attorney, except in the case of clause (ii) or (iii) any rights
         created by this Agreement. Such Stockholder has good and valid title
         to all the Existing Shares, free and clear of all Encumbrances
         (other than any Encumbrance created by this Agreement).

                                  ARTICLE III

                          COVENANTS OF THE STOCKHOLDER

         Section 3.1    No Solicitation. Each Stockholder and its
                        ---------------
Representatives shall immediately cease and cause to be terminated all
existing discussions or negotiations to which the Stockholder or its
officers, directors, employees, agents, accountants, counsel, advisors or

                                      4

<PAGE>
<PAGE>

consultants (collectively, "Representatives") are a part relating to an
Acquisition Proposal for the Company or any transaction referred to in
Section 3.1 or 3.2 with any parties conducted heretofore. From the date
hereof until the Effective Time or, if earlier, the termination of the Merger
Agreement pursuant to Article X thereof, each Stockholder shall not, whether
directly or indirectly through Representatives or other intermediaries, and
will instruct such Stockholder's Representatives not to, whether directly or
indirectly through Representatives or other intermediaries, initiate, solicit
or encourage (including by way of furnishing information or assistance), or
take any other action to facilitate, any inquiries or the making of any
proposal regarding a potential Acquisition Proposal for HNWC or any
transaction referred to in Section 3.1 or 3.2, or enter into or maintain
discussions or negotiate with any person regarding, in furtherance of or
relating to such inquiries or the making of a proposal regarding or
consummation of an Acquisition Proposal for HNWC or any transaction referred
to in Section 3.1 or 3.2, or agree to or endorse any Acquisition Proposal for
HNWC or any transaction referred to in Section 3.1 or 3.2, or disclose any
non-public information relating to the Company to any person that has made or
may reasonably be expected to make a proposal regarding an Acquisition
Proposal for HNWC or any transaction referred to in Section 3.1 or 3.2 or
that has advised the Company that it is or may be interested in making a
proposal regarding an Acquisition Proposal for HNWC or any transaction
referred to in Section 3.1 or 3.2, or authorize or permit any of such
Stockholder's Representatives to take any such action, and each Stockholder
shall use such Stockholder's reasonable best efforts to cause such
Stockholder's Representatives not to take any such action, and each
Stockholder shall promptly notify AMCON if any such inquiries or proposals
are made regarding a potential Acquisition Proposal for HNWC or any
transaction referred to in Section 3.1 or 3.2, and each Stockholder shall
promptly inform AMCON as to the terms and details of any such inquiry or
proposal (including the identity of the true party in interest making such
inquiry or proposal) and, if in writing, promptly deliver or cause to be
delivered to AMCON a copy of such inquiry or proposal, and each Stockholder
shall keep AMCON informed, on a current basis, of the status, terms and
details of any such inquiries or such proposals. Anything in this Section 3.1
to the contrary notwithstanding, nothing in this Section 3.1 shall limit any
individual Stockholder who is also a director of the Company, from exercising
or performing any of such Stockholder's rights or duties solely in such
Stockholder's capacity as a director of the Company.

         Section 3.2    No Disposition of Shares Prior to Termination.
                        ---------------------------------------------

                (a)     Each Stockholder hereby agrees that, until the Merger
         Agreement is terminated in accordance with Article IX thereof, and
         except pursuant to the Merger and any transactions contemplated by
         the Merger Agreement, the Stockholder shall not (i) sell, transfer,
         tender, assign, contribute to the capital of any Person, grant a
         participation in or otherwise dispose of, or create, become a party
         to, be bound by or permit to exist, any Encumbrance (other than any
         Encumbrance created by this Agreement) of any nature with respect
         to, any of the Shares or Other Securities or any interest therein
         (or agree or consent to, or offer to do, any of the foregoing), (ii)
         take any action that would reasonably be expected to make any
         representation or warranty of such Stockholder herein materially
         untrue or materially incorrect or have the effect of preventing or
         disabling such Stockholder from performing such Stockholder's
         obligations hereunder, or (iii) directly or indirectly, initiate,
         solicit or encourage any Person to take actions that would
         reasonably be expected to lead to the occurrence of any of the
         foregoing.

                                      5

<PAGE>
<PAGE>

                (b)     Each Stockholder agrees that, so long as this Section
         3.2 shall remain in effect, such Stockholder shall not request the
         Company to register the transfer (book-entry or otherwise) of any
         certificate or uncertificated interest evidencing any Shares or
         Other Securities, unless such transfer is made pursuant to the
         Merger or the transactions contemplated by the Merger Agreement. In
         the event of a stock dividend or distribution, or any change in the
         Company Common Stock by reason of any stock dividend, split-up,
         recapitalization, combination, exchange of shares or the like, for
         all purposes of this Agreement, the term "Shares" or "Other
         Securities," as the case may be, shall be deemed to refer to and
         include the Shares or Other Securities, as the case may be, as well
         as all such stock dividends and distributions and any shares into
         which or for which any or all of such Shares or Other Securities may
         be changed or exchanged.

                (c)     Each Stockholder hereby agrees and consents to the
         entry of stop transfer instructions by the Company against transfer
         of any Shares or Other Securities except pursuant to the
         transactions or the proviso set forth in Section 3.2(a) above.

         Section 3.3    Further Assurances. Each Stockholder agrees to use
                        ------------------
such Stockholder's reasonable best efforts to take, or cause to be taken, all
appropriate action, and to do, or cause to be done, all things necessary,
proper or advisable under applicable laws and regulations to consummate and
make effective the transactions contemplated by this Agreement, including,
but not limited to, the Merger or the transactions contemplated by the Merger
Agreement. If any further action is necessary or desirable to carry out the
purposes of this Agreement, such Stockholder shall use such Stockholder's
reasonable best efforts to take all such action as promptly as practicable.

         Section 3.4    Legend. Each Stockholder will request the Company to
                        ------
have the certificates evidencing those shares which are owned of record or
beneficially by such Stockholder to bear substantially the following legend
and to request the Company to instruct its transfer agent to stop the
transfer of any certificates bearing such legend that is not made in
accordance with this Agreement:

         THE TRANSFER OF AND VOTING OF THE SHARES REPRESENTED BY THIS
         CERTIFICATE IS SUBJECT TO THE PRIOR RIGHTS AND LIMITATIONS IMPOSED
         BY THE AMENDED AND RESTATED STOCKHOLDER AGREEMENT DATED AS OF
         NOVEMBER 7, 2000 AMONG AMCON DISTRIBUTING COMPANY, A DELAWARE
         CORPORATION, ANDREW MERGER SUB, INC., A DELAWARE CORPORATION, AND
         CERTAIN STOCKHOLDERS WHO ARE SIGNATORIES THERETO. A COPY OF SUCH
         AGREEMENT WILL BE FURNISHED BY THE COMPANY'S SECRETARY UPON WRITTEN
         REQUEST AND WITHOUT CHARGE.

                                      6

<PAGE>
<PAGE>

                                   ARTICLE IV

                                   TERMINATION

         Section 4.1    Termination. This Agreement shall terminate upon any
                        -----------
termination of the Merger Agreement in accordance with Article IX thereof.

         Section 4.2    Effect of Termination. In the event that this
                        ---------------------
Agreement shall terminate pursuant to this Article IV, this Agreement shall
thereafter be void and the parties hereto shall have no further rights or
obligations with respect thereto, except as a result of any prior breach
thereof.

                                    ARTICLE V

                                   DEFINITIONS

         Section 5.1    Definitions. For purposes of this Agreement:
                        -----------

                (a)     "beneficially own" or "beneficial ownership" with
         respect to any securities shall mean having "beneficial ownership"
         of such securities (as determined pursuant to Rule 13d-3 under the
         Securities Exchange Act of 1934, as amended), including pursuant to
         any agreement, arrangement or understanding, whether or not in
         writing. Securities beneficially owned by one Person shall include
         securities beneficially owned by all other Persons with whom such
         Person would constitute a "group" within the meaning of Section
         13(d)(3) of the Exchange Act.

                (b)     "Person" shall mean an individual, corporation,
         partnership, joint venture, association, trust, unincorporated
         organization or other entity.

                (c)     "Encumbrance" means any pledge, security interest,
         lien, claim, encumbrance, mortgage, charge, hypothecation, option,
         right of first refusal or offer, community property right, other
         marital right, preemptive right, voting agreement, voting trust,
         proxy, power of attorney, escrow, option, forfeiture, penalty,
         action at law or in equity, security agreement, shareholder
         agreement or other agreement, arrangement, contract, commitment,
         understanding or obligation, or any other restriction, qualification
         or limitation on the use, transfer, right to vote, right to dissent,
         and seek appraisal, receipt of income or other exercise of any
         attribute of ownership, except for those which do not or could not
         reasonably be expected to, individually or in the aggregate, impair
         the ability of such Stockholder to perform such Stockholder's
         obligations hereunder or to consummate the transactions contemplated
         hereby.

                                   ARTICLE VI

                                  MISCELLANEOUS

         Section 6.1    Severability. If any term or other provision of this
                        ------------
Agreement is invalid, illegal or incapable of being enforced by any rule of
law, or public policy, all other conditions and provisions of this Agreement
shall nevertheless remain in full force and effect so long as the

                                      7

<PAGE>
<PAGE>

economic or legal substance of this Agreement is not affected in any manner
materially adverse to any party. Upon such determination that any term or
other provision is invalid, illegal or incapable of being enforced, the
parties hereto shall negotiate in good faith to modify this Agreement so as
to effect the original intent of the parties as closely as possible in a
mutually acceptable manner in order that the terms of this Agreement remain
as originally contemplated to the fullest extent possible.

         Section 6.2    Entire Agreement. This Agreement constitutes the
                        ----------------
entire agreement between Parent and each Stockholder with respect to the
subject matter hereof and supersedes all prior agreements and understandings,
both written and oral, between AMCON and such Stockholder with respect to the
subject matter hereof.

         Section 6.3    Counterparts. This Agreement may be executed and
                        ------------
delivered (including by facsimile transmission) in one or more counterparts,
and by the different parties hereto in separate counterparts, each of which
when executed and delivered shall be deemed to be an original but all of
which taken together shall constitute one and the same instrument.

         Section 6.4    Assignment. Neither this Agreement nor any rights or
                        ----------
interests hereunder shall be assigned by any Stockholder (whether by
operation of law or otherwise) without the prior written consent of AMCON.
AMCON may assign, in its sole discretion, its rights hereunder to any direct
or indirect wholly owned subsidiary or affiliate of AMCON, but no such
assignment shall relieve AMCON of its obligations hereunder if such assignee
does not perform such obligations.

         Section 6.5    Amendments. This Agreement may not be amended,
                        ----------
supplemented, waived or otherwise modified or terminated, except upon the
execution and delivery of a written agreement executed by the parties hereto.

         Section 6.6    Notices. All notices, requests, claims, demands and
                        -------
other communications hereunder shall be in writing and shall be given (and
shall be deemed to have been duly received if so given) by hand delivery,
facsimile transmission, mail (registered or certified mail, postage prepaid,
return receipt requested), or courier service providing proof of delivery.
All communications hereunder shall be delivered to the respective parties at
the following addresses:

                If to Stockholder, in accordance with the information set
forth on Schedule I hereto.

                If to AMCON:

                        AMCON Distributing Company
                        10228 L Street
                        Omaha, Nebraska 68127
                        Attention: President
                        Telephone: (402) 331-3727
                        Fax:

                                      8

<PAGE>
<PAGE>

                copies to:

                        Stinson, Mag & Fizzell, P.C.
                        1201 Walnut, Suite 2800
                        Kansas City, MO 64106
                        Attention: John A. Granda, Esq.
                        Telephone (816) 691-3188
                        Fax: (816) 691-3495

or to such other address as the person to whom notice is given may have
previously furnished the others in writing in the manner set forth above.

         Section 6.7    No Third Party Beneficiaries. This Agreement is not
                        ----------------------------
intended to be for the benefit of, and shall not be enforceable by, any
person or entity not a party hereto.

         Section 6.8    Specific Performance. Each of the parties hereto
                        --------------------
acknowledges that a breach by it of any agreement contained in this Agreement
may cause the other party to sustain damage for which it may not have an
adequate remedy at law for money damages, and therefore each of the parties
hereto agrees that in the event of any such breach the aggrieved party may be
entitled to the remedy of specific performance of such agreement and
injunctive and other equitable relief in addition to any other remedy to
which it may be entitled, at law or in equity.

         Section 6.9    Remedies Cumulative. All rights, powers and remedies
                        -------------------
provided under this Agreement or otherwise available in respect hereof at law
or in equity shall be cumulative and not alternative, and the exercise of any
thereof by any party shall not preclude the simultaneous or later exercise of
any other such right, power or remedy by such party.

         Section 6.10   No Waiver. The failure of any party hereto to exercise
                        ---------
any right, power or remedy provided under this Agreement or otherwise
available in respect hereof at law or in equity, or to insist upon strict
compliance by any other party hereto with its obligations hereunder, and any
custom or practice of the parties at variance with the terms hereof, shall
not constitute a waiver by such party of its right to exercise any such or
other right, power or remedy or to demand such compliance.

         Section 6.11   Governing Law.
                        -------------

                (a)     This Agreement shall be governed by, and construed
         in accordance with, the laws of the State of Delaware, without
         giving effect to the principles of conflicts of law thereof.

                (b)     Each party hereby irrevocably submits to the
         exclusive jurisdiction of the Court of Chancery in the State of
         Delaware in any action, suit or proceeding arising in connection
         with this Agreement, and agrees that any such action, suit or
         proceeding shall be brought only in such court (and waives any
         objection based on forum non conveniens or any other objection to
         venue therein); provided, however, that such consent to jurisdiction
         is solely for the purpose referred to in this subsection (b) and
         shall not be deemed to be a general submission to the jurisdiction
         of such court or in the State of Delaware other than for such
         purposes.

                                      9

<PAGE>
<PAGE>

         Section 6.12   Waiver of Jury Trial. EACH OF AMCON, MERGER SUB AND
                        --------------------
EACH STOCKHOLDER HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY
ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR
OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE ACTIONS OF
PARENT OR SUCH STOCKHOLDER IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE
AND ENFORCEMENT THEREOF.

         Section 6.13   Descriptive Headings. The descriptive headings used
                        --------------------
herein are inserted for convenience of reference only and are not intended to
be part of or to affect the meaning or interpretation of this Agreement.

         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to
be duly executed as of the date first above written.

                                      AMCON DISTRIBUTING COMPANY

                                      By:  /s/ William F. Wright
                                           ------------------------------------
                                               Name: William F. Wright
                                               Title:  Chairman of the Board

                                      HAWAIIAN NATURAL WATER
                                      COMPANY, INC.

                                      By:  /s/ Marcus Bender
                                           ------------------------------------
                                               Name: Marcus Bender
                                               Title:  President

                                      STOCKHOLDERS:

                                      HSC, Inc.

                                      By: /s/ Michael Chagani
                                          -------------------------------------
                                              Title: Treasurer

                                      Hawaii Brewery Development Company, Inc.

                                      By: /s/ Marcus Bender
                                          -------------------------------------
                                              Title: President

                                     10

<PAGE>
<PAGE>

                                      /s/ Marcus Bender
                                      -----------------------------------------
                                      Marcus Bender

                                      /s/ Dennis Harris
                                      -----------------------------------------
                                      Dennis Harris

                                      /s/ Wilhelm Kuhlmann
                                      -----------------------------------------
                                      Wilhelm Kuhlmann

                                      /s/ Keijiro Sorimachi
                                      -----------------------------------------
                                      Keijiro Sorimachi

                                     11

<PAGE>
<PAGE>

<TABLE>
                                         SCHEDULE I

<CAPTION>

                           Shares Owned and           Derivative
 Name of Stockholder     Certificate Number(s)     Securities Owned     Address for Notices
 -------------------     ---------------------     ----------------     -------------------
<S>                      <C>                       <C>                  <C>

HSC, Inc.                424,056

Hawaii Brewery           729,264
Development
Company, Inc.

Marcus Bender            647,965                   483,333

Dennis Harris            263,040

Wilhelm Kuhlmann         1,243,600                 1,188,932

Keijiro Sorimachi        119,090

</TABLE>

                                     12

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