Amendment to Restricted Stock Award Contract between HCI Group, Inc. and Jim Macchiarola
This amendment modifies the original Restricted Stock Award Contract between HCI Group, Inc. and Jim Macchiarola, dated November 12, 2013. It cancels the portions of the award related to 12,000 shares that would have vested if certain stock price conditions were met. The cancellation is effective as of March 2, 2016, and is agreed to by both parties.
Exhibit 10.98
AMENDMENT TO RESTRICTED STOCK AWARD CONTRACT
The Restricted Stock Award Contract between HCI Group, Inc. (formerly Homeowners Choice, Inc.) and Jim Macchiarola having a grant date of November 12, 2013 and by which 24,000 shares of HCI Group, Inc. restricted stock were awarded to Mr. Macchiarola is hereby amended so that the portions of the award relating to (i) 6,000 shares that would vest one year after the Fair Market Value equals or exceeds $50 per share for 20 consecutive trading days and (ii) 6,000 shares that would vest one year after the Fair Market Value equals or exceeds $95 per share for 20 consecutive trading days are both cancelled effective March 2, 2016.
| Agreed to this 2nd day of March 2016. | ||
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| Jim Macchiarola | ||
| HCI Group, Inc. | ||
| By: |
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| Paresh Patel, Chief Executive Officer | ||
