It stated: “To formally censure Megan Dunn, to mandate the NUS president and vice-president Richard Brooks to publish a formal apology stating that it was a mistake to accept Coca Cola's sponsorship.”
The NUS reaffirmed its commitment to boycott Israel in June, after it voted in favour of the BDS movement last August.
The Union of Jewish Students said more than 150 student representatives had written an open letter calling for the motion to be opposed.
Russell Langer, UJS campaigns director, said: “We hope that NEC will listen to these voices.”
A second motion on the “proper” way to boycott Coca Cola was not debated due to a lack of time. Executive members will vote on it by email at a later date.