Document:

HEALTH
INSURANCE INNOVATIONS, INC.

15438
North Florida Avenue, Suite 201

Tampa,
Florida 33613

 

June
14, 2017

 

Mr.
Michael Hershberger

c/o
Health Insurance Innovations, Inc.

15438
North Florida Avenue, Suite 201

Tampa,
Florida 33613

 

Re:
Amendment to Second Amended and Restated Employment Agreement

 

Dear
Michael:

 

You
are currently a party to a Second Amended and Restated Employment Agreement, dated as of September 16, 2015 (the “Employment
Agreement”), with Health Insurance Innovations, Inc. (the “Company”). The purpose of this letter
agreement is to set forth certain mutually agreed-upon amendments to your Employment Agreement. For purposes of this letter agreement,
capitalized terms appearing but not defined in this letter agreement shall have the meanings set forth in the Employment Agreement.

 

You
and the Company have agreed that, effective as of the date set forth above, your Employment Agreement will be amended as follows:

 

	 	1.	Section
    3(a) of the Employment Agreement will be amended by deleting said section in its entirety and replacing it with the following:

 

(a)
The Company agrees to pay to Executive a salary in cash (“Salary”), as compensation for the services to be
performed by Executive in his capacity as Chief Financial Officer, Treasurer and Secretary at the rate of $350,000 per calendar
year. Executive’s Salary will be paid in accordance with the Company’s customary payroll procedures and be subject
to applicable taxes and withholdings. During the Term, the Board shall have the right to (at its discretion) increase, but not
decrease, Executive’s Salary, except the Board may decrease Executive’s Salary in connection with a base salary decrease
that is generally applicable to all members of the Company’s senior management if such decrease is proportionate to the
base salary decrease of all members of the Company’s senior management. Executive’s salary as in effect from time
to time shall constitute his “Salary” for purposes of this Agreement.

 

    	 	-1-	 

    	 

    

 

	 	2.	Section
    3(f) of the Employment Agreement will be amended by deleting said section in its entirety and replacing it with the following:

 

(f)
Executive shall be eligible to participate in any equity incentive plan, restricted share plan, share award plan, stock appreciation
rights plan, stock option plan or similar plan adopted by the Company on the same terms and conditions applicable to other senior
Company executives of the same level, with the amount of such awards to be determined by the Board in its sole discretion. Executive
shall be eligible for an annual bonus and long term incentive awards as determined at the sole discretion of the Board. Executive’s
target bonus under the Company’s management bonus plan will be equal to 60% of Executive’s Salary then in effect.

 

	 	3.	You
    hereby agree that, as a result of certain Restricted Share grants made to you on or about the date of this letter agreement,
    the provisions of Section 3(d) of the Employment Agreement shall not apply, and you will not be eligible for the grants described
    therein, prior to September 16, 2019.

 

	 	4.	Except
    as specifically set forth in this letter agreement, the Employment Agreement shall remain in full force and effect in accordance
    with the terms thereof.

 

By
signing this letter agreement below, you confirm your agreement to the foregoing.

 

	 	Sincerely,
	 	 
	 	HEALTH
    INSURANCE INNOVATIONS, INC.
	 	 
	 	 	/S/
    Gavin Southwell
	 	Name:
    	Gavin
    Southwell
	 	Its:
    	Chief
    Executive Officer

 

Acknowledged
and Agreed as of June 14, 2017.

 

	By:	/S/
    Michael D. Hershberger	 
	 	Michael
    D. Hershberger, individually	 

 

    	 	-2-HEALTH
INSURANCE INNOVATIONS, INC.

15438
North Florida Avenue, Suite 201

Tampa,
Florida 33613

 

June
14, 2017

 

Mr.
Sheldon Wang

c/o
444 Castro Street

Mountain
View, CA 94041

 

Re:
Amendment to Employment Agreement

 

Dear
Sheldon:

 

You
are currently a party to an Employment Agreement, dated as of July 14, 2014 ( the “Employment Agreement”),
with Health Insurance Innovations, Inc. (the “Company”). The purpose of this letter agreement is to set forth
certain mutually agreed-upon amendments to your Employment Agreement. For purposes of this letter agreement, capitalized terms
appearing but not defined in this letter agreement shall have the meanings set forth in the Employment Agreement.

 

You
and the Company have agreed that, effective as of the date set forth above, your Employment Agreement will be amended as follows:

 

	 	1.	Section
    3(a) of the Employment Agreement will be amended by deleting said section in its entirety and replacing it with the following:

 

(a)
The Company agrees to pay to Executive a salary in cash (the “Salary”), as compensation for the services to
be performed by Executive, at the rate of $350,000 per calendar year, paid in accordance with the Company’s customary payroll
procedures and subject to applicable withholding. During the Term, the Company shall have the right to increase, but not decrease,
the Salary. Executive’s salary as in effect from time to time shall constitute the “Salary” for purposes
of this Agreement.

 

	 	2.	Section
    3(d) of the Employment Agreement will be amended by deleting said section in its entirety and replacing it with the following:

 

(d)
Executive shall be eligible to participate in any equity incentive plan, restricted share plan, share award plan, stock appreciation
rights plan, stock option plan or similar plan adopted by the Company on the same terms and conditions applicable to other senior
Company executives of the same level, with the amount of such awards to be determined by the Board in its sole discretion. Executive
shall be eligible for an annual bonus and long term incentive awards as determined at the sole discretion of the Board. Executive’s
target bonus under the Company’s management bonus plan will be equal to 60% of Executive’s Salary then in effect.

 

    	 	-1-	 

    	 

    

 

	 	3.	Except
    as specifically set forth in this letter agreement, the Employment Agreement shall remain in full force and effect in accordance
    with the terms thereof.

 

By
signing this letter agreement below, you confirm your agreement to the foregoing.

 

	 	Sincerely,
	 	 
	 	HEALTH
    INSURANCE INNOVATIONS, INC.
	 	 
	 	 	/S/
    Michael D. Hershberger
	 	Name:
    	Michael
    D. Hershberger
	 	Its:
    	Chief
    Financial Officer

 

Acknowledged
and Agreed as of June 14, 2017.

 

	By:
    	/S/
    Sheldon Wang	 
	 	Sheldon
    Wang, individually	 

 

    	 	-2-HEALTH
INSURANCE INNOVATIONS, INC.

15438
North Florida Avenue, Suite 201

Tampa,
Florida 33613

 

June
14, 2017

 

Mr.
Bruce Telkamp

c/o
444 Castro Street

Mountain
View, CA 94041

 

	 	Re:
    	Amendment
    to Employment Agreement

 

Dear
Bruce:

 

You
are currently a party to an Employment Agreement, dated as of July 14, 2014 and amended pursuant to a letter agreement dated May
4, 2015 (collectively, the “Employment Agreement”), with Health Insurance Innovations, Inc. (the “Company”).
The purpose of this letter agreement is to set forth certain mutually agreed-upon amendments to your Employment Agreement. For
purposes of this letter agreement, capitalized terms appearing but not defined in this letter agreement shall have the meanings
set forth in the Employment Agreement.

 

You
and the Company have agreed that, effective as of the date set forth above, your Employment Agreement will be amended as follows:

 

	 	1.	Section
    3(a) of the Employment Agreement will be amended by deleting said section in its entirety and replacing it with the following:

 

(a)
The Company agrees to pay to Executive a salary in cash (the “Salary”), as compensation for the services to
be performed by Executive, at the rate of $350,000 per calendar year, paid in accordance with the Company’s customary payroll
procedures and subject to applicable withholding. During the Term, the Company shall have the right to increase, but not decrease,
the Salary. Executive’s salary as in effect from time to time shall constitute the “Salary” for purposes
of this Agreement.

 

	 	2.	Section
    3(d) of the Employment Agreement will be amended by deleting said section in its entirety and replacing it with the following:

 

(d)
Executive shall be eligible to participate in any equity incentive plan, restricted share plan, share award plan, stock appreciation
rights plan, stock option plan or similar plan adopted by the Company on the same terms and conditions applicable to other senior
Company executives of the same level, with the amount of such awards to be determined by the Board in its sole discretion. Executive
shall be eligible for an annual bonus and long term incentive awards as determined at the sole discretion of the Board. Executive’s
target bonus under the Company’s management bonus plan will be equal to 60% of Executive’s Salary then in effect.

 

	 	3.	Except
    as specifically set forth in this letter agreement, the Employment Agreement shall remain in full force and effect in accordance
    with the terms thereof.

 

By
signing this letter agreement below, you confirm your agreement to the foregoing.

 

	 	Sincerely,
	 	 
	 	HEALTH INSURANCE INNOVATIONS, INC.
	 	 	 
	 	 	/S/
    Michael D. Hershberger
	 	Name:	Michael
    D. Hershberger
	 	Its:	Chief
    Financial Officer

 

Acknowledged
and Agreed as of June 14, 2017.

 

	By:	/S/
    Bruce Telkamp	 
	 	Bruce
    Telkamp, individually	 

 

    	 	-1-Health
Insurance Innovations, Inc.

Non-Employee
Director Compensation Plan

Effective
Date: July 1, 2017

Adopted on June 14, 2017

 

	1.	Annual
    Board cash retainer:	 	$55,000
    (paid quarterly)
	 	 	 	 
	2.	Annual
    Board restricted stock grant:	 	$75,000
    grant date fair market value (vesting 50% on each of the first two anniversaries from the grant date) to be made on the date
    of the Company’s annual meeting of stockholders
	 	 	 	 
	3.	Annual
    Board Chair cash retainer:	 	$35,000
    (paid quarterly)
	 	 	 	 
	4.	Annual
    Committee cash retainers:	 	Audit
                                         Committee Members: $7,500 (paid quarterly)

                                                          

        Compensation
        Committee Members: $5,000 (paid quarterly)

         

        Nominating
        and Corporate Governance Committee Members: $2,500 (paid quarterly)

         

        Acquisition
        Committee Members: $1,500 (paid quarterly)

	 	 	 	 
	5.	Annual
    Audit Committee Chair cash retainer:	 	$15,000
    (paid quarterly)
	 	 	 	 
	6.	Annual
    Compensation Committee Chair cash retainer:	 	$10,000
    (paid quarterly)
	 	 	 	 
	7.	Annual
    Nominating and Corporate Governance Committee Chair cash retainer:	 	$5,000
    (paid quarterly)
	 	 	 	 
	8.	Annual
    Acquisition Committee Chair cash retainer:	 	None
	 	 	 	 
	9.	Reimburse
    out-of-pocket expenses:	 	Yes
	 	 	 	 
	10.	Board
    meeting fee:	 	None
	 	 	 	 
	11.	Committee
    meeting fee	 	None

 

Note: Quarterly retainer payments
will be paid on or around the last business day of each calendar quarter in arrears, pro-rated in the case of service for a particular
calendar quarter. Committee Chair cash retainers are in lieu of Committee participation retainers and not in addition thereto.

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