Amendment to Unit Purchase Option Agreement between Pali Capital, Inc. and United Insurance Holdings Corp.
This letter agreement confirms that the underwriters of FMG Acquisition Corp.'s initial public offering, including certain employees, have agreed to forfeit 100,000 of the 450,000 unit purchase options originally granted in connection with the IPO. The expiration date for the remaining 350,000 unit purchase options is also shortened by two years, now expiring on October 4, 2010. The agreement is between Pali Capital, Inc. and United Insurance Holdings Corp., and formalizes changes previously discussed in related correspondence and filings.
EXHIBIT 10.1
STRICTLY CONFIDENTIAL
October 27, 2008
Nick Griffin
Chief Financial Officer
United Insurance Holdings Corp.
700 Central Avenue, Suite 302
St. Petersburg, FL 33701
| Re: | Unit Purchase Options |
Dear Nick,
Consistent with my letter to Patrick Delacey of Raymond James & Associates dated August 1, 2008 and as further noted in FMG Acquisition Corp.’s Proxy Statement/Prospectus dated September 4, 2008, this is to confirm that the underwriters of FMG’s initial public offering in October 2007 and certain of their employees which received 450,000 unit purchase options in conjunction with FMG’s IPO have agreed to forfeit 100,000 of such options and to have expiration date for the remaining 350,000 unit purchase options be shortened by two years to October 4, 2010.
Please don’t hesitate to contact me with any questions at XXX-XXX-XXXX.
| Very truly yours, | ||
| PALI CAPITAL, INC. | ||
| By: | /s/ R. Michael Powell | |
| R. Michael Powell | ||
| Managing Director | ||
