Exhibit 10.35

 

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 Joseph Zirkman, 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”), the
nonqualified stock option agreement(s) related thereto (the “Award Agreements”)
and the Unvested Stock Option Agreement, dated as of March 27, 1997.

 

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 and the Unvested Stock Option Agreement.

 

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, the Award Agreements, and the Unvested Stock Option Agreement remain
unmodified.

 

       

CARROLS HOLDINGS CORPORATION

           

By:

 

/S/    ALAN VITULI

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Alan Vituli

           

Its:

 

Director, Chairman and Chief Executive Officer

 

Accepted and Agreed to

this 1st day of March, 2002

 

/S/    JOSEPH A. ZIRKMAN

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        Joseph A. Zirkman