Amendment to Stock Option Agreements between Kingstone Companies, Inc. and Barry Goldstein
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Summary
Kingstone Companies, Inc. and Barry Goldstein have agreed to amend prior stock option agreements, allowing Barry to exercise his outstanding options by having the company withhold a number of shares equal in value to the exercise price, instead of paying cash. All other terms of the original agreements remain unchanged.
EX-10.Q 7 kins_ex10q.htm EXHIBIT 10.Q kins_ex10q.htm
Exhibit 10.Q
Kingstone Companies, Inc.
1154 Broadway
Hewlett, New York 11557
February 23, 2012
To: Barry Goldstein
Dear Barry:
Reference is made to the Stock Option Agreements, dated as of October 16, 2007 and March 24, 2010, between Kingstone Companies, Inc. (formerly DCAP Group, Inc.) (the “Company”) and you (the “Agreements”).
Pursuant to Section 13 of the Company’s 2005 Equity Participation Plan (the “Plan”), you shall have the right to exercise the outstanding options granted pursuant to the Agreements, in whole or in part, by having the Company reduce the number of shares otherwise issuable by a number of shares having a fair market value (as defined in the Plan) equal to the exercise price of the option being exercised.
Except as amended hereby, the Agreements shall continue in full force and effect in accordance with their terms.
Very truly yours,
KINGSTONE COMPANIES, INC.
By: /s/ Victor Brodsky
____________________
Victor Brodsky
Chief Financial Officer