Extension of Stock Option Awards Agreement between Carrols Holdings Corporation and Timothy LaLonde
Carrols Holdings Corporation and employee Timothy LaLonde have agreed to extend the expiration date of previously granted nonqualified stock options under the company's 1996 Long-Term Incentive Plan. The new expiration date for these options is February 29, 2012. All other terms and conditions of the original stock option awards remain unchanged.
Exhibit 10.36
CARROLS HOLDINGS CORPORATION
EXTENSION OF STOCK OPTION AWARDS
THIS EXTENSION, dated as of March 1, 2002, is made by and between Carrols Holdings Corporation, a Delaware corporation (hereinafter called the “Company”), and Timothy LaLonde, an employee of Carrols Corporation (hereinafter referred to as the “Optionee”). All capitalized terms herein shall have such meanings as are ascribed to them in the Plan (as defined below) and in this agreement (the “Agreement”).
| 1. | Optionee has previously been granted nonqualifed stock options (the “Options”) to purchase shares of common stock, $.01 par value per share, of Carrols Holdings Corporation, under the Carrols Holdings Corporation 1996 Long-Term Incentive Plan, as amended from time to time (the “Plan”), and the nonqualified stock option agreement(s) related thereto (the “Award Agreements”). |
| 2. | The Compensation Committee of the Board of Directors of the Company has determined that it is in the best interests of the Company to extend the expiration dates of the options, beyond the dates set forth in the Award Agreements. |
| 3. | The expiration date for the Options is extended to February 29, 2012. |
| 4. | All other terms and conditions applicable to the Options as set forth in the Plan and the Award Agreements remain unmodified |
| CARROLS HOLDINGS CORPORATION | ||||||||
| By: | /S/ JOSEPH A. ZIRKMAN | |||||||
| Joseph A. Zirkman | ||||||||
| Its: | Vice President-General Counsel | |||||||
Accepted and Agreed to
this 1st day of March, 2002
/S/ TIMOTHY LALONDE
Timothy LaLonde
