Long-Term Incentive Plan
Amendment No. 1
Amendment No. 2
Amendment No. 3
Amendment No. 4
Amendment No. 5
Amendment No. 6
 
 
                         CANANDAIGUA WINE COMPANY, INC.
 
                         LONG-TERM STOCK INCENTIVE PLAN
 
     This  Long-Term  Stock  Incentive  Plan,  which  amends and restates in its
entirety the Canandaigua Wine Company,  Inc. Stock Option and Stock Appreciation
Right Plan,  was  approved by the Board of Directors of the Company by unanimous
written  consent  as of June 23,  1997,  to be  effective  immediately.  Certain
capitalized terms used in the Plan are defined in Annex A.
 
 
1.   PURPOSE
 
     The Plan is designed to provide the Company with  increased  flexibility to
attract and retain  valued  employees  and  directors  and to provide  them with
incentives to maintain and enhance the Company's long-term performance record by
aligning the interests of the Participants and the stockholders of the Company.
 
2.   ADMINISTRATION
 
     The Plan  shall be  administered  by the  Committee.  The  Committee  shall
possess the  authority,  in its  discretion,  (a) to determine the employees and
directors  of the Company to whom Awards  shall be granted and the time or times
at which  Awards  shall be granted;  (b) to  determine  at the time of grant the
number of shares to be subject to each Award;  (c) to prescribe  the form of the
instrument  representing  such Award; (d) to establish any appropriate terms and
conditions applicable to the Awards including any limitations on grants, vesting
or exercisability,  and to make any amendments to such instruments or the Awards
which  may,  without   limitation,   include  any  acceleration  of  vesting  or
exercisability, waiver of any condition or requirement or taking of other action
consistent  with the  purposes of the Plan;  (e) to  interpret  and construe the
Plan; (f) to make and amend rules and regulations  relating to the Plan; and (g)
to make all other  determinations  necessary or advisable for the administration
of the Plan. The Committee's  determinations  shall be conclusive and binding on
all Participants  and all persons claiming under or through any Participant.  No
member of the Committee shall be liable for any action taken or decision made in
good faith relating to the Plan or any Award granted under the Plan.
 
     No outstanding  Award may be exercised by any person if the  Participant to
whom the Award is  granted  (x) is,  or at any time  after the date of grant has
been,  in  competition  with  the  Company  or its  affiliates  or (y) has  been
terminated  by the Company for Cause.  The  Committee  shall  determine,  in its
discretion,  whether a Participant's  actions  constitute  competition  with the
Company or its affiliates.
 
3.  ELIGIBLE EMPLOYEES AND NON-EMPLOYEE DIRECTORS
 
     All employees of the Company are eligible to receive Awards under the Plan.
Awards may be made to non-employee directors of the Company. No Awards under the
Plan shall be made to Covered  Employees  which are  intended  to qualify  under
Section  162(m) of the Code until the Plan is  approved by  stockholders  of the
Company.
 
4.   SHARES AVAILABLE; TYPES OF AWARDS
 
     The total  number of shares of the  Company's  Common Stock  available  for
Awards under the Plan in the aggregate shall not exceed four million shares. The
maximum  number of Shares which may be subject to Awards  granted to any Covered
Employee  in any fiscal year shall not exceed 2 1/2% of the  outstanding  Common
Stock as of the date the Plan is  approved  by the  Board of  Directors.  Shares
subject to Awards  may be  authorized  and  unissued  shares or may be  treasury
shares.
 
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     If an Award expires,  terminates or is cancelled without being exercised or
becoming  vested,  new Awards may  thereafter be granted under the Plan covering
such shares unless the applicable  Rules under Section 16(b) of the Exchange Act
or Section 162(m) of the Code require otherwise.
 
     The  Committee  may make Awards from time to time in any one or more of the
following  types  singly  or  in  tandem:   Nonqualified  Stock  Options,  Stock
Appreciation Rights, Restricted Stock or Other Stock-Based Awards.
 
5.   STOCK OPTIONS
 
     Stock Option Awards under the Canandaigua  Wine Company,  Inc. Stock Option
and Stock  Appreciation  Right Plan made prior to the date this Long-Term  Stock
Incentive  Plan was adopted by the Board of Directors  shall remain  outstanding
and in full force in accordance with their terms.  Each Stock Option Award shall
specify  the  following  terms  and  conditions,  as  well as any  other  terms,
conditions, limitations and restrictions specified by the Committee:
 
          (a)  Exercise  Price.  The  exercise  price per Share under each Stock
     Option  shall be  specified by the  Committee,  provided  that the exercise
     price per Share for each Stock Option  granted to a Covered  Employee shall
     equal the Fair  Market  Value of the Common  Stock on the date the Award is
     granted.
 
          (b)  Duration of Option.  The  duration of each Stock  Option shall be
     specified.  Stock Options must be exercised on or before 5:00 p.m.  Eastern
     Time on their expiration date.
 
          (c) Exercise  Terms.  Each Stock Option  granted  under the Plan shall
     become  exercisable  in five equal annual  installments  commencing  on the
     first anniversary of the date of grant except as otherwise  provided by the
     Committee.  Stock  Options  may be  partially  exercised  from time to time
     during the period extending from the time they first become  exercisable in
     accordance with the terms of the Award until the expiration of the exercise
     period  specified  in the Award.  Exercise  of related  Stock  Appreciation
     Rights  will cause the  immediate  automatic  expiration  of related  Stock
     Options  on the  terms  and  conditions  specified  by the  Committee.  The
     Committee  may impose such  additional  limitations  or  conditions  on the
     vesting or exercise of any Stock Option as it deems appropriate.
 
          (d) Payment of Exercise  Price. A Stock Option shall be exercised upon
     such notice as is required by the Committee  accompanied by payment in full
     of the  exercise  price for the Shares  being  acquired in such form as the
     Committee  may provide in accordance  with Section 9 of the Plan,  together
     with all  applicable  withholding  taxes as  provided  in Section 10 of the
     Plan.
 
6.   STOCK APPRECIATION RIGHTS
 
     Stock  Appreciation  Rights may be granted by the Committee in Awards which
are in tandem with Stock Options or  freestanding.  Tandem Awards may be granted
at the  same  time as the  grant  of the  related  Stock  Option  or at any time
thereafter prior to the end of the exercise period for the related Stock Option.
 
          (a) Value.  The value of each Stock  Appreciation  Right  shall be the
     difference between the Fair Market Value of a Share on the date of exercise
     of the Stock  Appreciation  Right and the reference amount specified in the
     Award,  which for each Stock  Appreciation  Right  granted in tandem with a
     Stock Option shall be not less than the exercise price of the related Stock
     Option. The reference amount for each Stock Appreciation Right granted to a
     Covered Employee shall not be less than the Fair Market Value of a Share on
     the date of grant of the Stock Appreciation Right.
 
          (b) Duration of Stock  Appreciation  Right. The duration of each Stock
     Appreciation Right shall be specified. Each tandem Stock Appreciation Right
     shall  specify  the Stock  Option to which it is related  and the terms and
     conditions  under which  exercise or expiration of the related Stock Option
     will result in automatic expiration of the related Stock Appreciation Right
     and the terms and  conditions on which  exercise or expiration of the Stock
     Appreciation Right will result in automatic expiration of the related Stock
     Option.
 
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          (c) Exercise Terms.  Each Stock  Appreciation  Right granted under the
     Plan shall become exercisable in five equal annual installments  commencing
     on the first anniversary of the date of grant except as otherwise  provided
     by the Committee. Stock Appreciation Rights may be partially exercised from
     time to time during the period  extending  from the time they first  become
     exercisable in accordance  with the terms of the Award until the expiration
     of the exercise  period  specified in the Award.  Exercise of related Stock
     Options will cause the  immediate  automatic  expiration  of related  Stock
     Appreciation Rights on the terms and conditions specified by the Committee.
     The Committee may impose such  additional  limitations or conditions on the
     exercise of any Stock  Appreciation  Right as  specified in the Award as it
     deems appropriate,  including such additional  limitations or conditions on
     the  vesting  or  exercise  of any  Stock  Appreciation  Right  as it deems
     appropriate. A Stock Appreciation Right shall be exercised upon such notice
     as is required by the Committee.
 
7.   RESTRICTED STOCK
 
     Shares of  Restricted  Stock may be granted by the  Committee  from time to
time in its discretion to  Participants  subject to such terms and conditions as
may be  required by law or are  specified  in the Award,  including  any payment
required  for the  Shares.  The Award  will also  specify  the  availability  of
dividends  and other  distributions  with respect to which Shares of  Restricted
Stock are entitled and the voting rights, if any, associated with such Shares of
Restricted  Stock.  Restricted  Stock Awards to Participants  who may be Covered
Employees which are intended to satisfy the requirements for  "performance-based
compensation"  under Section  162(m) of the Code shall only be made if payout is
contingent upon  achievement of Performance  Targets within or at the end of the
Performance Period with respect to one or more Performance Criteria as specified
by the Committee and the Committee certifies the extent to which any Performance
Target  has  been  satisfied  and the  number  of  Shares  of  Restricted  Stock
deliverable  as a result  thereof,  prior to the  delivery of any such Shares to
Covered  Employees.  In any fiscal year, the value of Restricted Stock Awards to
any individual  Covered Employee shall not exceed $2.5 million  (measured by the
difference  between the amount of any payment for the Shares by the  Participant
and the Fair Market Value of the Shares on the date of the Award).
 
8.   OTHER STOCK-BASED AWARDS
 
     From  time  to  time in its  discretion,  the  Committee  may  grant  Other
Stock-Based  Awards to any  Participant  on such terms and  conditions as may be
determined  by the  Committee  and  specified  in the  Award.  Grants  of  Other
Stock-Based  Awards  to  Participants  who may be  Covered  Employees  which are
intended to satisfy the requirements for "performance-based  compensation" under
Section  162(m)  of the  Code  shall  only be  made if  payout  or  exercise  is
contingent upon  achievement of Performance  Targets within or at the end of the
Performance Period with respect to one or more Performance Criteria as specified
by the Committee and the Committee certifies the extent to which any Performance
Target  has been  satisfied,  and the  number of  Shares  or other  compensation
deliverable  as a result  thereof,  prior to the  delivery of any such Shares or
compensation  to Covered  Employees.  Any exercise of Other  Stock-Based  Awards
shall be made upon such notice as is required  by the  Committee  to the Company
accompanied  by  payment in full of any  exercise  price for the Shares or other
compensation  being  acquired  in such  form as the  Committee  may  provide  in
accordance with Section 9 of the Plan, together with all applicable  withholding
taxes as provided in Section 10 of the Plan.  In any fiscal  year,  the value of
Other  Stock-Based  Awards to any individual  Covered  Employee shall not exceed
$2.5 million  (measured by the  difference  between the amount of any payment or
exercise price for the Award by the Participant and the Fair Market Value of the
Shares or the Award on the date of the Award).
 
9.   PAYMENT FOR PURCHASE OR EXERCISE OF AWARDS
 
     The  exercise  price of Stock  Options  and any  Other  Stock-Based  Awards
providing for exercise prices and the purchase price for any Restricted Stock or
Other  Stock-Based  Awards for purchase prices shall be paid to the Company upon
exercise or  acquisition  of such Award in the manner  which the  Committee  may
determine  which may include by (a) delivery of cash or a check in the amount of
the price of the Award, (b) tendering  previously  acquired Shares having a Fair
Market  Value  at the time of  delivery  equal to the  price of the  Award,  (c)
delivery of 
 
<PAGE>
 
irrevocable instructions to a broker or other agent acceptable to the Company to
promptly sell Shares  received under the Award and to deliver to the Company the
amount of  proceeds to pay the price  related to such  Award,  or (d) such other
method of payment as the Committee in its discretion deems appropriate,  in each
case together with all applicable  withholding  taxes as provided in Section 10.
Previously  acquired  Shares  tendered  in  payment  must  have  been  owned  by
Participant for at least six months prior to the tender in payment of an Award.
 
10.  WITHHOLDING TAXES
 
     Whenever  required by law in  connection  with an Award,  the Company shall
require the Participant to remit to the Company an amount  sufficient to satisfy
any  federal,   state  and/or  local  income  and  employment   withholding  tax
requirements prior to the delivery of any certificate or certificates for Shares
or  to  take  any  other   appropriate   action  to  satisfy  such   withholding
requirements,  including  any method  permitted  for payment  under Section 9 as
determined by the  Committee.  To the extent  permitted  under such rules as the
Committee  may  promulgate  and in  compliance  with any  requirements  to avoid
violations  under  Section  16(b) of the  Exchange  Act and related  Rules,  the
Participant  may satisfy such obligation in whole or in part by electing to have
the  Company  withhold  Shares  from the  Shares  to which  the  Participant  is
otherwise entitled under the Award.
 
11.  PERFORMANCE CRITERIA
 
     For each Award of Restricted Stock or Other  Stock-Based  Award intended to
qualify as "performance based compensation" under Section 162(m) of the Code and
related Rules, the Committee shall select the applicable  Performance  Criteria,
Performance  Period and  Performance  Target for the Award  consistent  with the
terms of the Plan and  Section  162(m).  The  Committee  may select  Performance
Criteria,  Performance  Periods and Performance Targets for Restricted Stock and
Other  Stock-Based  Awards for Participants  other than Covered Employees in its
discretion.  The  Committee  shall have no  discretion to increase the amount of
compensation  payable  to Covered  Employees  if a  Performance  Target has been
attained,  but the Committee may adjust  compensation to increase the amount, in
its discretion,  to any other Participant.  The Committee may adjust Performance
Targets to take into account the effects of any Extraordinary Items equitably in
a manner  consistent with the  determination  of the original  Award,  provided,
however,  no such  adjustment may be made with respect to any Award to a Covered
Employee which is intended to qualify as "performance based compensation" unless
such  adjustment  satisfies  the  requirements  of Code  Section  162(m) and the
related Rules.
 
     For  Awards  to  Covered   Employees  which  are  intended  to  qualify  as
"performance  based  compensation"  under Code Section  162(m),  the Performance
Target with respect to the selected  Performance Criteria must be established by
the Committee in advance of the deadlines  applicable  under Code Section 162(m)
and the Rules  thereunder and while the performance  relating to the Performance
Target remains substantially uncertain within the meaning of such Section 162(m)
and Rules. At the time the Performance  Targets are  established,  the Committee
shall  provide,  in terms of an  objective  formula or standard for each Covered
Employee,  the method of computing the specific  amount that will  represent the
maximum  number  of  Shares  or  amount  of other  compensation  payable  to the
Participant if the Performance Target is attained.
 
12.  AWARDS NOT TRANSFERABLE
 
     Unless  transferability is permitted under certain conditions as determined
by the Committee,  no Award is transferable by the Participant other than (i) by
will or the laws of  descent  and  distribution,  (ii)  pursuant  to a  domestic
relations  order, or (iii) to the extent  permitted under the Plan, the Award or
interpretation  of the  Committee,  by  gift  to  family  members  or by gift or
permitted non-cash exchange to entities  beneficially owned by family members or
other permitted  transferees,  and shall be exercisable only by the Participant,
the  Participant's  legal   representative,   or  the  Participant's   permitted
transferees. Shares of Restricted Stock may not be sold or otherwise transferred
until ownership vests in the Participant.
 
<PAGE>
 
13.  GENERAL RESTRICTION ON ISSUANCE OF STOCK CERTIFICATES
 
     The  Company  shall not be required  to deliver  any  certificate  upon the
grant,  vesting or exercise of any Award until it has been  furnished  with such
documents as it may deem necessary to insure compliance with any law or Rules of
the SEC or any other governmental  authority having jurisdiction under the Plan.
Certificates for Shares delivered upon such grant or exercise shall bear legends
restricting  transfer or other restrictions or conditions to the extent required
by law or determined by the  Committee.  Each Award under the Plan is subject to
the  condition  that,  if at any time the  Committee  shall  determine  that the
listing, registration or qualification of the Shares subject to such Award under
any state or federal law or other applicable Rule, or the consent or approval of
any  governmental  regulatory  body, is necessary or desirable as a condition of
the granting of such Awards or the issue or purchase of Shares thereunder,  such
Awards may not vest or be  exercised  in whole or in part unless  such  listing,
registration,  qualification,  consent or approval  shall have been  effected or
obtained free of any conditions not acceptable to the Committee.
 
14.  TERMINATION OF EMPLOYMENT
 
     If  the   employment  of  a   Participant   terminates  by  reason  of  the
Participant's  Retirement,  Disability  or death,  any Award may be exercised or
received by the Participant,  the Participant's  designated beneficiary or legal
representative or permitted transferee at any time on or prior to the earlier of
the expiration date of the Award or the expiration of one year after the date of
Retirement,  Disability  or  death  but  only  if,  and to the  extent  that the
Participant  was  entitled  to  exercise  or  receive  the  Award at the date of
Retirement,  Disability or death and subject to such other terms and  conditions
as may be specified in the Award and the Plan. All Awards or any portion thereof
not yet vested or  exercisable  on the date of  Retirement,  Disability or death
shall  terminate  immediately  on the date of  termination  (except as otherwise
provided by the Committee or an employment agreement between the Company and the
Participant).  Upon termination of the  Participant's  employment for any reason
other  than  Retirement,  Disability  or death,  any Award may be  exercised  or
received by the Participant,  the Participant's  designated beneficiary or legal
representative or permitted transferee at any time on or prior to the earlier of
the expiration date of the Award or the expiration of thirty days after the date
of termination  but only if, and to the extent that the Participant was entitled
to exercise or receive the Award at the date of termination  and subject to such
other terms and  conditions  as may be specified in the Award and the Plan.  All
Awards or any  portion  thereof  not yet  vested or  exercisable  on the date of
termination  other  than by  reason of  Retirement,  Disability  or death  shall
terminate  immediately on the date of termination  (except as otherwise provided
by the  Committee  or an  employment  agreement  between  the  Company  and  the
Participant).
 
     Unless  otherwise  determined  by the  Committee,  an  authorized  leave of
absence pursuant to a written agreement or other leave entitling the Participant
to reemployment  in a comparable  position by law or Rule shall not constitute a
termination of employment for purposes of the Plan unless the  Participant  does
not return at or before the end of the authorized leave or within the period for
which re-employment is guaranteed by law or Rule.
 
15.  ADJUSTMENT OF AWARDS
 
     In the event of any change in the Common  Stock of the Company by reason of
any stock  dividend,  stock  split,  recapitalization,  reorganization,  merger,
consolidation,  split-up, combination, or exchange of shares, or rights offering
to purchase Common Stock at a price substantially below fair market value, or of
any similar  change  affecting the Common  Stock,  the number and kind of shares
authorized  under  Section 4 for the Plan,  the number and kind of shares  which
thereafter  are  subject  to an Award  under the Plan and the number and kind of
unexercised Stock Options or Other  Stock-Based  Awards and the number of Shares
of  Restricted  Stock and the price per share  shall be  adjusted  automatically
consistent  with such change to prevent  substantial  dilution or enlargement of
the rights granted to, or available for, Participants in the Plan.
 
<PAGE>
 
16.  NO EMPLOYMENT RIGHTS
 
     The Plan and any Awards  granted  under the Plan shall not confer  upon any
Participant any right with respect to continuance as an employee of the Company,
nor shall  the Plan or such  Awards  interfere  in any way with the right of the
Company to terminate  the  Participant's  position as an employee or director at
any time.
 
17.  RIGHTS AS A SHAREHOLDER
 
     The  recipient  of any  Award  under  the Plan  shall  have no  rights as a
shareholder  with  respect  thereto  unless  and  until   certificates  for  the
underlying Shares are issued to the recipient,  except as otherwise specifically
provided by the Committee.
 
18.  SECTION 162(m) CONDITIONS
 
     It is the intent of the Company that the Plan and Awards  granted under the
Plan  satisfy and be  interpreted  in a manner  that  satisfies  any  applicable
requirements  of Code  Section  162(m) as  performance-based  compensation.  Any
provision,  application or  interpretation  of the Plan  inconsistent  with this
intent to satisfy the  standards  in Code Section  162(m) shall be  disregarded.
Notwithstanding anything to the contrary in the Plan, the provisions of the Plan
may at any time be  bifurcated  by the  Committee  in any manner so that certain
provisions  of the Plan or any Award  intended (or required in order) to satisfy
the  applicable  requirements  of Code  Section  162(m) are  applicable  only to
Covered Employees.
 
19.  AMENDMENT AND DISCONTINUANCE
 
     The Plan and any Award outstanding under the Plan may be amended,  modified
or  terminated  by the  Committee at any time and all Awards shall be subject to
the Plan,  as amended  from time to time,  except  that the  Committee  may not,
without  approval of the  Participant to whom the Award was granted or his legal
representative  or  permitted  transferee  adversely  affect  the rights of such
person under such Award. No amendment,  modification, or termination of the Plan
shall be effective  without  stockholder  approval if such  approval is required
under  applicable law or Rule or any regulation of the stock market on which the
Common Stock is traded.
 
20.  CHANGE IN CONTROL
 
         (a)  Notwithstanding  other  provisions  of the Plan, in the event of a
Change in Control of the  Company,  all of a  Participant's  Awards shall become
immediately vested and exercisable or fully earned at the maximum amount, except
with  respect to Covered  Employees  for  "performance  based  compensation"  as
otherwise determined by the Committee.
 
         (b) In the  event of a Change  in  Control,  in the  discretion  of the
Committee, each Participant who is a Section 16 insider with respect to whom the
Change  in  Control  might  result in a  violation  under  Section  16(b) of the
Exchange Act, may receive, in exchange for the surrender of the Stock Option, an
amount of cash equal to the  difference  between the fair market value (based on
the  kind  and  amount  of  any  securities,   cash,  other  property  or  other
consideration to be received with respect to each Share in the Change in Control
transaction  as determined by the  Committee) of the Common Stock covered by the
Award and the option  price of such Common  Stock  under the Stock  Option or to
receive,  in exchange for any other Award,  an amount of cash equivalent to such
fair market value had the Participant  received the Shares or other compensation
as intended under the Award prior to the Change in Control.
 
         (c) Notwithstanding the foregoing,  the Plan and any Awards outstanding
under the Plan shall be binding upon any successor to the Company,  whether such
successor is the result of a direct or indirect purchase, merger,  consolidation
or other  acquisition of all or substantially  all of the business and/or assets
of the Company.
 
<PAGE>
 
21.  GOVERNING LAW
 
     The Plan and any Award made  pursuant  to it shall be  construed  under the
laws of the State of Delaware.
 
Dated: June 23, 1997                     CANANDAIGUA WINE COMPANY, INC.
 
 
                                         By: /s/ RICHARD SANDS
                                             -----------------------
 
                                         Title: President
                                                --------------------
 
Date of Stockholder Approval  ________________
 
<PAGE>
 
                                     ANNEX A
                                       TO
                         LONG-TERM STOCK INCENTIVE PLAN
 
                               CERTAIN DEFINITIONS
 
     Capitalized terms used in the Plan shall have the meanings set forth below:
 
"AWARD" means any grant of Stock Options,  Restricted Stock,  Stock Appreciation
Rights or Other Stock-Based Award under the Plan.
 
"CAUSE" means,  solely for the purposes of the Plan, gross negligence or willful
misconduct or commission of a felony or an act of moral turpitude  determined by
the Committee to be  detrimental to the best interests of the Company or, if the
Participant  is subject to a written  agreement  with the Company  "cause" shall
have the meaning set forth in that agreement.
 
"CHANGE IN CONTROL" means:
 
     (a)  there shall be consummated
 
          (i) any consolidation or merger of the Company in which the Company is
          not the  continuing or surviving  corporation or pursuant to which any
          Shares are to be converted  into cash,  securities or other  property,
          provided  that the  consolidation  or merger is not with a corporation
          which was a direct or indirect wholly-owned  subsidiary of the Company
          or a parent of the Company  immediately  before the  consolidation  or
          merger; or
 
          (ii) any sale,  lease,  exchange or other transfer (in one transaction
          or a series of related  transactions) of all, or substantially all, of
          the assets of the Company; or
 
     (b)  the  stockholders  of the Company approve any plan or proposal for the
          liquidation or dissolution of the Company; or
 
     (c)  any  person (as such term is used in  Sections  13(d) and 14(d) of the
          Exchange Act) shall become the beneficial owner (within the meaning of
          Rule 13d-3 under the Exchange Act), directly or indirectly,  of 30% or
          more of the voting  control of the Company's then  outstanding  common
          stock,   provided  that  such  person  shall  not  be  a  wholly-owned
          subsidiary  of the  Company  immediately  before it  becomes  such 30%
          beneficial owner of voting control; or
 
     (d)  individuals  who  constitute  the Company's  Board of Directors on the
          date hereof (the "Incumbent Board") cease for any reason to constitute
          at least a  majority  thereof,  provided,  however,  that  any  person
          becoming a director  subsequent to the date hereof whose election,  or
          nomination for election by the Company's shareholders, was approved by
          a vote of at least three  quarters  of the  directors  comprising  the
          Incumbent Board (either by a specific vote or by approval of the proxy
          statement  of the  Company in which such  person is named as a nominee
          for  director  without  objection  to such  nomination)  shall be, for
          purposes of this clause (d),  considered  as though such person were a
          member of the Incumbent Board.
 
"CODE" means the Internal Revenue Code of 1986, as amended.
 
"COMPANY" means  Canandaigua  Wine Company,  Inc. and its  Subsidiaries,  except
where the context indicates that only the parent company is intended.
 
"COMMITTEE"  means the committee  appointed by the Company's  Board of Directors
(the  "Committee")  consisting  of not fewer  than the  number of members of the
Board of Directors required under Code Section 162(m) and the Rules
 
<PAGE>
 
of the IRS thereunder for determining  performance based  compensation  which is
deductible  by the Company who are "outside  directors"  as defined from time to
time under the IRS Rules  and,  to the extent  possible  are also  "Non-Employee
Directors"  as  defined  from time to time under the SEC Rules for  approval  of
Awards  exempt  from  Section  16(b).  If any member of the  Committee  does not
qualify as an "outside  director",  Awards under the Plan for Covered  Employees
shall be  administered by a subcommittee  of the Committee  comprised  solely of
members who qualify as outside  directors to the extent  desireable  to preserve
the deductibility of such compensation under Section 162(m) of the Code and such
subcommittee shall constitute the Committee for all purposes under the Plan. The
full Board of Directors,  in its discretion,  may act as the Committee under the
Plan and shall do so with respect to grants of Awards to non-employee directors.
The Committee may delegate to selected officers of the Company,  individually or
acting as a  committee,  any  portion  of its  authority,  except  as  otherwise
expressly provided in the Plan. In the event of a delegation to management,  the
term  "Committee"  as used herein shall  include the officer or  committee  with
respect to the  delegated  authority.  Notwithstanding  any such  delegation  of
authority,  the Committee  comprised of members of the Board of Directors  shall
retain overall  responsibility for the operation of the Plan.  Management acting
pursuant to  delegated  authority  shall not make  Awards  under the Plan to any
Covered Employees or other Section 16 insider.
 
"COMMON STOCK" means the Class A Common Stock of the Company, par value $.01 per
Share.
 
"COVERED EMPLOYEE" means the Chief Executive Officer of the Company and the four
other most  highly  compensated  officers of the Company as such term is defined
under the Rules  promulgated  under  Section  162(m) of the Code and such  other
officers as may be designated by the Committee.
 
"DISABILITY"  means the inability of a Participant  to perform his or her duties
for a  period  in  excess  of the  applicable  statutory  short-term  disability
coverage  provided  by the  Company.  The date of  termination  with  respect to
Disability  shall be the day  following  the date  such  short  term  disability
protection lapses.
 
"EXTRAORDINARY  ITEMS" means (a) items  presented  as such (or other  comparable
terms) on the Company's audited financial statements, (b) extraordinary, unusual
or nonrecurring  items of gain or loss, (c) changes in tax or accounting laws or
Rules, and (d) the effects of mergers, acquisitions,  divestitures, spin offs or
significant transactions,  each of which are identified in the audited financial
statements and notes thereto or in the "management's discussion and analysis" of
the  financial  statements  in a period  report  filed  with the SEC  under  the
Exchange Act.
 
"FAIR  MARKET  VALUE" of a Share means the closing  price of the Common Stock on
the NASDAQ Stock  Market or other  national  stock  exchange on which the Common
Stock is actively  traded for the date as  reported in the WALL STREET  JOURNAL,
Eastern  Edition or such other standard  reference  service as the Committee may
select.
 
"IRS" means the Internal Revenue Service and, if the context permits, the courts
interpreting the Code.
 
"OTHER  STOCK-BASED  AWARD" means an Award granted  pursuant to Section 8 of the
Plan which is subject to the terms, conditions and restrictions set forth in the
instrument evidencing the Award.
 
"PARTICIPANT" means any employee of the Company or non-employee  director of the
Company who has received an Award under the Plan.
 
"PERFORMANCE  CRITERIA" means one or more of the following  performance criteria
selected by the  Committee  with  respect to any  performance-based  Award:  (a)
increases in the Fair Market Value of a Share, (b) shareholder  value added, (c)
cash flow, (d) earnings per share,  (e) earnings of the Company before deducting
interest, taxes, depreciation and amortization, (f) return on equity, (g) return
on capital,  (h) return on assets or net assets,  (i) cost reduction or control,
(j) operating income or net operating income, (k) operating margins/sales in one
or more business segments or product lines, (l) return on operating revenue, and
(m) market share in one or more business segments or product lines.  Performance
criteria  may be  established  on a  corporate,  divisional,  business  unit  or
consolidated basis and measured absolutely or relative to the Company's peers.
 
<PAGE>
 
"PERFORMANCE  PERIOD" means the fiscal year or years or other period established
by the Committee  with respect to which the  Performance  Targets are set by the
Committee.
 
"PERFORMANCE  TARGET" means one or more specific  objective goal or goals (which
may be  cumulative  or  alternative)  that  are  timely  set in  writing  by the
Committee  for each  Participant  for the  applicable  Performance  Period  with
respect to any one or more of the Performance Criteria.
 
"PLAN" means the Long-Term Stock Incentive Plan of the Company,  as amended from
time to time.
 
"RESTRICTED  STOCK" means Shares granted pursuant to Section 7 of the Plan which
are  subject  to  the  terms,  conditions  and  restrictions  set  forth  in the
instrument evidencing the Award.
 
"RETIREMENT" means a termination of employment by an employee who is at least 60
years of age and  after at least 10 years of  service  with the  Company  (which
shall include entities acquired by the Company, if the Committee so determines).
 
"RULES" means rules,  regulations and interpretations issued by the governmental
authority charged with  administering  any law and any judicial  interpretations
applicable thereto.
 
"SEC" means the Securities and Exchange Commission.
 
"SHARES" means shares of the Company's Class A Common Stock,  par value $.01 per
share.
 
"STOCK OPTION" means any nonqualified Stock Option granted pursuant to Section 5
of the Plan which is subject to the terms, conditions and restrictions set forth
in the instrument evidencing the Award and the Plan.
 
"SUBSIDIARIES" means (a) all corporations of which at least fifty percent of the
voting  stock  is  owned  by  the  Company  directly  or  through  one  or  more
corporations  at least fifty percent of whose voting stock is so owned,  and (b)
partnerships  or other  entities in which the Company  has,  either  directly or
indirectly, at least a fifty percent interest in the capital or profits.
 
OTHER TERMS:  Any other terms used in the Plan which are defined in Sections 83,
162(m) or 421 of the Internal  Revenue Code as amended,  or the Rules thereunder
or  corresponding  provisions of subsequent laws and Rules in effect at the time
Awards are made under the Plan,  shall have the  meanings set forth in such laws
or Rules.
 
 
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                          AMENDMENT NUMBER ONE TO THE
                         CANANDAIGUA WINE COMPANY, INC.
                         LONG-TERM STOCK INCENTIVE PLAN
 
     This Amendment Number One to the Canandaigua Wine Company,  Inc.  Long-Term
Stock  Incentive  Plan (the "Plan") was  approved  pursuant to Section 19 of the
Plan by the Board of Directors of Canandaigua  Brands,  Inc. (f/k/a  Canandaigua
Wine  Company,  Inc.,  the  "Company"),  acting in its capacity as the Committee
under the Plan.  Capitalized  terms used herein which are not otherwise  defined
shall have the meanings ascribed to them in the Plan and Annex A thereto.
 
     1. NAME.  The name of the Plan is hereby  changed to  "Canandaigua  Brands,
Inc. Long-Term Stock Incentive Plan."
 
     2. DEFINITION OF COMMITTEE.  The definition of the term "Committee" as used
in the Plan and defined in Annex A to the Plan is hereby amended and restated to
read in its entirety as follows:
 
          "COMMITTEE"  means the  committee  appointed  from time to time by the
          Company's Board of Directors to administer the Plan (the "Committee").
          The  full  Board  of  Directors,  in its  discretion,  may  act as the
          Committee  under  the  Plan,  whether  or  not a  Committee  has  been
          appointed,  and  shall do so with  respect  to  grants  of  Awards  to
          non-employee  directors.  The  Committee  may  delegate to one or more
          members of the Committee or officers of the Company,  individually  or
          acting  as a  committee,  any  portion  of its  authority,  except  as
          otherwise expressly provided in the Plan. In the event of a delegation
          to a member of the Committee, officer or a committee thereof, the term
          "Committee"  as used herein shall include the member of the Committee,
          officer  or  committee  with  respect  to  the  delegated   authority.
          Notwithstanding  any  such  delegation  of  authority,  the  Committee
          comprised  of members of the Board of Directors  and  appointed by the
          Board  of  Directors  shall  retain  overall  responsibility  for  the
          operation of the Plan.
 
     In witness whereof,  Canandaigua Brands, Inc. has caused this instrument to
be executed as of September 15, 1997.
 
                                                  CANANDAIGUA BRANDS, INC.
                                                 
                                                  By:  /s/ Richard Sands
                                                       ------------------------
                                                       Richard Sands, President
 
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                          AMENDMENT NUMBER TWO TO THE
                            CANANDAIGUA BRANDS, INC.
                         LONG-TERM STOCK INCENTIVE PLAN
 
 
     This Amendment Number Two to the Canandaigua  Brands,  Inc. Long-Term Stock
Incentive Plan, as amended (the "Plan"), was approved pursuant to Section 19 of
the Plan by the Board of Directors of Canandaigua  Brands, Inc. (the "Company"),
acting in its capacity as the Committee under the Plan, and by the  stockholders
of the Company.  Capitalized  terms used herein which are not otherwise  defined
shall have the meanings ascribed to them in the Plan and Annex A thereto.
 
     The Plan is  hereby  amended  to  increase  the  number  of  shares  of the
Company's  Common  Stock with respect to which Awards may be made under the Plan
from four million  shares to seven million shares by amending the first sentence
of the  first  paragraph  of  Section 4 of the Plan to read in its  entirety  as
follows:
 
          The total number of shares of the Company's Common Stock available for
          Awards under the Plan in the aggregate  shall not exceed seven million
          shares.
 
     In witness whereof,  Canandaigua Brands, Inc. has caused this instrument to
be executed as of July 20, 1999.
                       --
 
                                            CANANDAIGUA BRANDS, INC.
 
                                            By:  /s/ Richard Sands
                                                 -----------------
                                                 Richard Sands, President
 
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                             AMENDMENT NUMBER THREE
                                     TO THE
                            CANANDAIGUA BRANDS, INC.
                         LONG-TERM STOCK INCENTIVE PLAN
 
 
     This Amendment Number Three to the Canandaigua Brands, Inc. Long-Term Stock
Incentive  Plan, as amended (the "Plan"),  is adopted  pursuant to Section 19 of
the  Plan  by the  Human  Resources  Committee  of the  Board  of  Directors  of
Canandaigua Brands, Inc.  Capitalized terms used herein, which are not otherwise
defined, shall have the meanings ascribed to them in the Plan.
 
     1. Section 14 of the Plan is amended,  effective June 21, 2000, by deleting
the second sentence of the first  paragraph of such section and  substituting in
its place the following:
 
          All Awards or any portion thereof not yet vested or exercisable on the
          date of  Retirement,  Disability  or death  shall  become  immediately
          vested and  exercisable on the date of termination  due to Retirement,
          Disability or death (except as otherwise  provided by the Committee or
          an employment agreement between the Company and the Participant).
 
     IN WITNESS WHEREOF,  Canandaigua Brands, Inc. has caused this instrument to
be executed as of June 21, 2000.
 
                                           CANANDAIGUA BRANDS, INC.
 
 
                                           By:/s/Richard Sands
                                              ----------------------------------
                                              Richard Sands, President
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                             AMENDMENT NUMBER FOUR
                                     TO THE
                            CANANDAIGUA BRANDS, INC.
                         LONG-TERM STOCK INCENTIVE PLAN
 
 
This Amendment  Number Four to the  Canandaigua  Brands,  Inc.  Long-Term  Stock
Incentive Plan (the "Plan") is adopted pursuant to Section 19 of the Plan by the
Board of Directors of  Constellation  Brands,  Inc. (f/k/a  Canandaigua  Brands,
Inc.) (the  "Company"),  acting in its capacity as the Committee under the Plan.
Capitalized  terms used herein which are not  otherwise  defined  shall have the
meanings ascribed to them in the Plan and Annex A thereto.
 
     1.   NAME. The name of the Plan is hereby changed to "Constellation Brands,
          Inc.  Long-Term  Stock  Incentive  Plan,"  and all  references  to the
          Company  name  in the  Plan  are  hereby  replaced  by  references  to
          "Constellation Brands, Inc."
 
In witness whereof,  Constellation Brands, Inc. has caused this instrument to be
executed as of December 21, 2000.
 
                                                  CONSTELLATION BRANDS, INC.
 
 
                                                  By: /s/ Richard Sands
                                                      --------------------------
                                                      Richard Sands, President

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AMENDMENT NUMBER FIVE

TO THE

CONSTELLATION BRANDS, INC.

LONG-TERM STOCK INCENTIVE PLAN

 

This Amendment Number Five to the Constellation Brands, Inc. Long-Term Stock Incentive Plan (the "Plan") is adopted pursuant to Section 19 of the Plan by the Board of Directors of Constellation Brands, Inc. (the "Company"), acting in its capacity as the Committee under the Plan, and by the stockholders of the Company. Capitalized terms used herein which are not otherwise defined shall have the meanings ascribed to them in the Plan and Annex A thereto.

 

The Plan is hereby amended to increase the number of shares of the Company’s Common Stock with respect to which Awards may be made under the Plan to forty million shares by amending the first sentence of the first paragraph of Section 4 of the Plan to read in its entirety as follows:

 

The total number of shares of the Company’s Common Stock available for Awards under the Plan in the

aggregate shall not exceed forty million shares.

 

In witness whereof, Constellation Brands, Inc. has caused this instrument to be executed as of July 20, 2004.

 

 


 

CONSTELLATION BRANDS, INC.

 

 

 

 

 

/s/ W. Keith Wilson

Name:

W. Keith Wilson

Title:

Executive Vice President and Chief

Human Resources Officer

 

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AMENDMENT NUMBER SIX

TO THE

CONSTELLATION BRANDS, INC.

LONG-TERM STOCK INCENTIVE PLAN

 

        This Amendment Number Six to the Constellation Brands, Inc. Long-Term Stock Incentive Plan (the "Plan") is adopted pursuant to Section 19 of the Plan by the Human Resources Committee of the Board of Directors of Constellation Brands, Inc. (the "Company"), acting in its capacity as the Committee under the Plan. Capitalized terms used herein which are not otherwise defined shall have the meanings ascribed to them in the Plan and Annex A thereto. This amendment shall become effective as of the date set forth below and shall apply to Awards granted after such date

 

        Section 5(a) of the Plan is amended by replacing the first sentence thereof with the following:

 

The exercise price per Share under each Stock Option shall be specified by the Committee, provided that the exercise price per Share under each Stock Option granted to a Participant shall not be less than the Fair Market Value of the Common Stock on the date the Award is granted.

 

        In witness whereof, Constellation Brands, Inc. has caused this instrument to be executed as of December 22, 2004.

 

 

 

CONSTELLATION BRANDS, INC.

 

By:

/s/ W. Keith Wilson

Name:

W. Keith Wilson

Title:

Executive Vice President and Chief

Human Resources Officer

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