Re: Amended and Restated Award AgreementDelphi Financial Group Inc/De • January 5th, 2011 • Life insurance
This agreement (the “Agreement”) will serve to amend and restate the Stock Option Award Agreement between Delphi Financial Group, Inc. (“Delphi”) and you dated August 17, 2009 (the “Existing Agreement”). In such connection, it is hereby confirmed that, on December 29, 2010, (a) the Compensation Committee (the “Committee”) of the Board of Directors of Delphi has, pursuant to Sections 5, 6(a) and 9(d) of the 2003 Employee Long-Term Incentive and Share Award Plan, as amended (the “Plan”), granted to you 25,854 Restricted Shares in exchange for options to purchase up to 60,000 shares of Delphi’s Class A Common Stock (the “Stock”), (b) you have surrendered options to purchase up to 80,000 shares of the Stock as consideration for the modification of the financial performance goals contained in the Existing Agreement and (c) such goals, as so modified, shall be as set forth herein. This agreement, once countersigned by you, shall constitute an “Award Agreement” as defined in Section 2(c) of t
