Amendment to Restricted Stock Award Contract between HCI Group, Inc. and Paresh Patel
This amendment modifies the original Restricted Stock Award Contract between HCI Group, Inc. and Paresh Patel, dated May 16, 2013. It cancels the portion of the award relating to 100,000 shares that would have vested if the company's stock price reached or exceeded $50 per share for 20 consecutive trading days. The cancellation is effective as of March 2, 2016. Both parties have agreed to this change.
Exhibit 10.90
AMENDMENT TO RESTRICTED STOCK AWARD CONTRACT
The Restricted Stock Award Contract between HCI Group, Inc. (formerly Homeowners Choice, Inc.) and Paresh Patel having a grant date of May 16, 2013 and by which 400,000 shares of HCI Group, Inc. restricted stock were awarded to Mr. Patel is hereby amended so that the portion of the award relating to 100,000 shares that would vest one year after the Fair Market Value equals or exceeds $50 per share for 20 consecutive trading days is cancelled effective March 2, 2016.
| Agreed to this 2nd day of March 2016. | ||
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| Paresh Patel | ||
| HCI Group, Inc. | ||
| By: |
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| Richard Allen, Chief Financial Officer | ||
