0001193125-09-074683 Sample Contracts

AMENDMENT TO PICO HOLDINGS, INC.
Restricted Stock Unit Award Agreement • April 7th, 2009 • Pico Holdings Inc /New • Real estate

WHEREAS, pursuant to the PICO Holdings, Inc. 2005 Long-Term Incentive Plan (the “Plan”), the Company granted to Executive a Restricted Stock Unit Award of 30,000 stock units (the “Award”) upon the terms and conditions set forth in an award agreement dated March 3, 2009 (the “Award Agreement”) and in the Plan;

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