August __, 2009 [Name] c/o Reliance Standard Life Insurance Company 2001 Market Street, Suite 1500 Philadelphia, Pennsylvania 19103-7303 Re: Stock Option Award Agreement Dear [Name]:Delphi Financial Group Inc/De • August 11th, 2009 • Life insurance
We are pleased to inform you that, pursuant to action taken by the Compensation Committee (the “Committee”) of the Board of Directors of Delphi Financial Group, Inc. (“Delphi”) under Section 5 of the 2003 Employee Long-Term Incentive and Share Award Plan, as amended (the “Plan”), you have been granted options to purchase up to 200,000 shares of Delphi’s Class A Common Stock (the “Stock”) at the price of $24.91 per share (the “Options”), which was the fair market value of the Stock, as determined under the Plan, on August 5, 2009, the date of such action. This notice, once countersigned by you, shall constitute an “Award Agreement” as defined in Section 2(c) of the Plan.
