AMENDMENT TO STOCK OPTION AND STOCK APPRECIATION RIGHT AWARD AGREEMENTS BETWEEN SMART & FINAL INC. AND ANDRE DELOLMO

EX-10.65 4 dex1065.htm AMENDMENT TO STOCK OPTION AND STOCK APPRECIATION RIGHT AWARD AGREEMENTS Amendment to Stock Option and Stock Appreciation Right Award Agreements

Exhibit 10.65

AMENDMENT TO STOCK OPTION AND STOCK APPRECIATION RIGHT

AWARD AGREEMENTS BETWEEN SMART & FINAL INC.

AND ANDRE DELOLMO

This will serve as an amendment to those certain stock option and stock appreciation award agreements identified herein (“the equity awards”) between Smart & Final Inc. (“the Company”) and Mr. Andre Delolmo (“Delolmo”)

 

  1. The Company has awarded, through the Compensation Committee of its Board of Directors, certain equity awards to Delolmo as part of his compensation for service as an executive of the Company. Those equity awards are governed by the Company’s Long-Term Equity Compensation Plan (“the Plan”). The equity awards are identified herein as follows:

 

Grant

Number

  

Grant

Date

   Type   # of
Shares		   Grant
Price		   Vested   Unvested   Exercisable
1624   9/27/2001   Options   20,000   10.132   20,000   —     20,000
1952   12/4/2002   Options   50,000   5.490   33,334   16,666   33,334
1964   2/19/2003   Options   60,000   4.280   40,000   20,000   40,000
2071   9/16/2003   Options   40,000   6.500   26,667   13,333   26,667
2114   2/17/2004   Options   30,000   12.890   30,000   —     30,000
2190   2/15/2005   Options   15,000   15.200   15,000   —     15,000
2418   2/21/2006   SARs   15,000   14.390   —     15,000   —  
                     
TOTALS       230,000     165,001   64,999   165,001
                     

 

  2. Mr. Delolmo has resigned his position with the Company effective October 31, 2006. Under the terms of the equity awards and/or the Plan, those grants would expire or need to be exercised within 90 days of his separation from the Company.

 

  3. In recognition of his years of service, the Compensation Committee of the Board in its meeting of September 20, 2006 amended the terms of Delolmo’s equity awards, effective upon his resignation, as follows:

 

Option

Number

   Option
Date		   Type  

# of

Shares

  

Vested as

of 10/30/06

   Shares vested
on 10/31/06*		  

Exercisable

as of 10/31/06

  

Last Day

to Exercise**

1624   9/27/2001   Options   20,000   20,000   —     20,000   10/31/2007
1952   12/4/2002   Options   50,000   33,334   16,666   50,000   10/31/2007
1964   2/19/2003   Options   60,000   40,000   20,000   60,000   10/31/2007
2071   9/16/2003   Options   40,000   26,667   13,333   40,000   10/31/2007
2114   2/17/2004   Options   30,000   30,000   —     30,000   10/31/2007
2190   2/15/2005   Options   15,000   15,000   —     15,000   10/31/2007
2418   2/21/2006   SARs   15,000   —     15,000   15,000   10/31/2007
                     
TOTALS       230,000   165,001   64,999   230,000  
                     
* Unvested shares at time of termination were vested
** Shares exercisable for one year after termination

  4. This Amendment will serve to amend and modify the equity awards as set forth herein. Nothing contained herein shall amend or otherwise modify the equity grants or the Plan except as set forth herein.

 

/s/ Jeff D. Whynot

Smart & Final Inc.

  

/s/ Andre Delolmo

Andre Delolmo