AGREEMENT FOR TERMINATION OF EMPLOYMENT Agreement by and between Delchamps, Inc., an Alabama corporation (the "Company"), and David M. Morrow ("Morrow"), dated as of September 19, 1997, with reference to the following recitals:Termination Agreement • September 26th, 1997 • Delchamps Inc • Retail-grocery stores
AGREEMENTStock Option Cancellation Agreement • September 26th, 1997 • Delchamps Inc • Retail-grocery stores
Check one: X I hereby agree to the cancellation of all options to --- purchase common stock of Delchamps held by me in exchange for a cash payment as described in the memorandum dated July 22, 1997 provided to me by Delchamps. I hereby agree to exercise all currently exercisable options --- to purchase common stock of Delchamps held by me no later than August 1, 1997. To the extent that I fail to exercise all such exercisable options by August 1, 1997 and to the extent that I hold options to purchase Delchamps common stock that are not currently exercisable, I agree to the cancellation of all options to purchase common stock of Delchamps held by me in exchange for a cash payment as described in the memorandum dated July 22, 1997 provided to me by Delchamps.
