Common use of Benefits Upon a Qualifying Termination Clause in Contracts

Benefits Upon a Qualifying Termination. DB1/ 135647150.1 (a) If the Executive fails to execute, or revokes, a written Release, upon a Qualifying Termination, the Executive shall receive only any accrued but unpaid salary through the Termination Date and any benefits accrued and due under any applicable benefit plans and programs of the Company. No other payments or benefits shall be due under this Agreement to the Executive. (b) In the event of the Executive’s Qualifying Termination, if the Executive executes and does not revoke a Release, the Executive shall be entitled to receive the following severance benefits: (i) The Company shall pay to the Executive an amount in cash equal to one (1) times the Executive’s annual base salary as in effect at the Termination Date. This severance amount will be paid in equal installments in accordance with the Company’s normal payroll practices over the twelve (12) month period following the Termination Date (the “Severance Period”). The first payment will be made on the first payroll date after the thirtieth (30th) day following the Termination Date, and the first payment will include the installments for the period between the Termination Date and the date of the first payment. (ii) The Company shall pay to the Executive a cash payment equal to one (1) times the Executive’s target incentive award under the Radian Group Inc. STI Incentive Plan for Employees, or any successor plan (“STI Program”) for the year in which the Termination Date occurs. The payment shall be made in a lump sum payment on the first payroll date after the thirtieth (30th) day following the Termination Date. (iii) The Company shall pay to the Executive a cash payment equal to the Executive’s prorated target incentive award under the Radian Group Inc. STI Incentive Plan for Employees, or any successor plan (the “STI Program”) for the year in which the Termination Date occurs. The prorated amount will be an amount in cash equal to the Executive’s target incentive award under the STI Program for the year in which the Termination Date occurs, multiplied by a fraction, the numerator of which is the number of days that the Executive was employed by the Company during the year of termination and the denominator of which is three hundred and sixty five (365). The payment shall be made in a lump sum payment on the first payroll date after the thirtieth (30th) day following the Termination Date. The payment under this Section 4(b)(ii) shall not affect the Executive’s right to any prior year’s bonus that may be payable under the STI Program in accordance with the terms of the STI Program and has not yet been paid as of the Termination Date. (iv) For the period beginning on the Termination Date and ending on the earlier of (A) the date on which the Executive first becomes covered by any other “group health plan,” as described in section 4980B(g)(2) of the Code, or (B) the last day of the Severance Period (the “Coverage Period”), the Executive may elect continued health coverage under the Company’s health plan in which the Executive (and the Executive’s spouse and eligible dependents) participated at the Termination Date, as in effect from time to time, provided that the Executive shall be responsible for paying the full monthly cost of such coverage. The monthly cost of such coverage shall be the premium determined for purposes of continued coverage under section 4980B(f)(4) of the Code (“COBRA Premium”) in effect from time to time. During the Coverage Period, the Company shall reimburse the Executive for the COBRA Premium that the Executive pays for continued health coverage under the Company’s health plan, less the premium charge that is paid by the Company’s active employees for such coverage as in effect on the Termination Date. Such amounts shall be payable monthly over the Coverage Period and shall commence on the first payroll date after the thirtieth (30th) day following the DB1/ 135647150.1 Executive’s Termination Date. The Company shall reimburse the Executive for COBRA Premiums pursuant to this Section 4(b)(iii) only for the portion of the Coverage Period during which the Executive continues coverage under the Company’s health plan. The Executive agrees to promptly notify the Company of the Executive’s coverage under an alternate health arrangement upon becoming covered by such alternative arrangement. The COBRA health care continuation coverage period under section 4980B of the Code shall run concurrently with the Coverage Period. (v) The Executive shall be eligible for executive outplacement services, for up to twelve (12) months after the Termination Date, not to exceed a maximum of twenty thousand dollars ($20,000) in cost. The Company will pay the cost of these services directly to the outplacement provider. (vi) Notwithstanding the foregoing, all payments and benefits described in this Section 4(b) shall be conditioned on the Executive’s executing and not revoking a written release, substantially in the form attached as Exhibit A, which shall be updated to comply with applicable law and best practices based on the advice of Company counsel (the “Release”), of any and all claims against the Company and all related parties (other than claims based upon any entitlements under the terms of this Agreement or accrued benefits under any plans or programs of the Company under which the Executive has accrued and is due a benefit). (c) Upon any Termination of Employment, the Company shall pay any accrued but unpaid salary through the Termination Date and any benefits accrued and due under any applicable benefit plans and programs of the Company.

Benefits Upon a Qualifying Termination. DB1/ 135647150.1 (a) If the Executive fails to execute, or revokes, a written Release, upon a Qualifying Termination, the Executive shall receive only any accrued but unpaid salary through the Termination Date and any benefits accrued and due under any applicable benefit plans and programs of the Company. No other payments or benefits shall be due under this Agreement to the Executive. (b) In the event of the Executive’s Qualifying Termination, if the Executive executes and does not revoke a Release, the Executive shall be entitled to receive the following severance benefits: (i) The Company shall pay to the Executive an amount in cash equal to one and one-half (11 1/2) times the Executive’s annual base salary as in effect at the Termination Date. This severance amount will be paid in equal installments in accordance with the Company’s normal payroll practices over the twelve eighteen (1218) month period following the Termination Date (the “Severance Period”). The first payment will be made on the first payroll date after the thirtieth (30th) day following the Termination Date, and the first payment will include the installments for the period between first thirty (30) days after the Termination Date and the date of the first paymentDate. (ii) The Company shall pay to the Executive a an amount in cash payment equal to one and one-half (11 1/2) times the Executive’s target incentive award Target Incentive Award under the Radian Group Inc. STI Company’s STI/MTI Incentive Plan for Executive Employees, or any successor plan applicable to executive officers (“STI STI/MTI Program”) for the year in which the Termination Date occurs. The payment shall be made in a lump sum payment on the first payroll date after the thirtieth (30th) day following the Termination Date. (iii) The Company shall pay to the Executive a cash payment equal to the Executive’s prorated target incentive award Target Incentive Award under the Radian Group Inc. STI Incentive Plan for Employees, or any successor plan (the “STI Program”) STI/MTI Program for the year in which the Termination Date occurs. The prorated amount bonus will be an amount in cash equal to the Executive’s target incentive award Target Incentive Award under the STI STI/MTI Program for the year in which the Termination Date occurs, occurs multiplied by a fraction, the numerator of which is the number of days that the Executive was employed by the Company and its Affiliates during the year of termination and the denominator of which is three hundred and sixty five (365). The payment shall be made in a lump sum payment on the first payroll date after the thirtieth (30th) day following the Termination Date. The payment under this Section 4(b)(ii4(b)(iii) shall not affect the Executive’s right to any prior year’s bonus accrued but unpaid STI Bonus or MTI Bonus amounts that may be payable under the STI STI/MTI Program in accordance with the terms of the STI Program and has not yet been paid as of the Termination DateSTI/MTI Program. (iv) For the period beginning on the Termination Date and ending on the earlier of (A) the date on which the Executive first becomes covered by any other “group health plan,” as described in section 4980B(g)(2) of the Code, or (B) the last day of the Severance Period (the “Coverage Period”), the Executive may elect continued health coverage under the Company’s health plan in which the Executive (and the Executive’s spouse and eligible dependents) participated at the Termination Date, as in effect from time to time, provided that the Executive shall be responsible for paying the full monthly cost of such coverage. The monthly cost of such coverage shall be the premium determined for purposes of continued coverage under section 4980B(f)(4) of the Code (“COBRA Premium”) in effect from time to time. During the Coverage Period, the Company shall reimburse the Executive for the COBRA Premium that the Executive pays for continued health coverage under the Company’s health plan, less the premium charge that is paid by the Company’s active employees for such coverage as in effect on the Termination Date. Such amounts shall be payable monthly over the Coverage Period and shall commence on the first payroll date after the thirtieth (30th) day following after the DB1/ 135647150.1 Executive’s Termination Date. Each payment under this Section 4(b)(iv) shall be made on an after-tax basis, after taking into consideration the federal, state and local income and payroll taxes imposed on such payment. The Company shall reimburse the Executive for COBRA Premiums pursuant to this Section 4(b)(iii4(b)(iv) only for the portion of the Coverage Period during which the Executive continues coverage under the Company’s health plan. The Executive agrees to promptly notify the Company of the Executive’s coverage under an alternate health arrangement upon becoming covered by such alternative arrangement. The COBRA health care continuation coverage period under section 4980B of the Code shall run concurrently with the Coverage Period. (v) The Executive shall be eligible for executive outplacement services, for up to twelve eighteen (1218) months after the Termination Date, not to exceed a maximum of twenty thousand dollars ($20,000) in cost. The Company will pay the cost of these services directly to the outplacement provider. (vi) Notwithstanding the foregoing, all payments and benefits described in this Section 4(b) shall be conditioned on the Executive’s executing and not revoking a written release, substantially in the form attached as Exhibit A, which shall be updated to comply with applicable law and best practices based on the advice of Company counsel A (the “Release”), of any and all claims against the Company and all related parties (other than claims based upon any entitlements under the terms of this Agreement or accrued benefits under any plans or programs of the Company under which the Executive has accrued and is due a benefit). (c) Upon any Termination of Employment, the Company shall pay any accrued but unpaid salary through the Termination Date and any benefits accrued and due under any applicable benefit plans and programs of the Company.

Benefits Upon a Qualifying Termination. DB1/ 135647150.1 (a) If the Executive fails to execute, or revokes, a written Release, upon a Qualifying Termination, the Executive shall receive only any accrued but unpaid salary through the Termination Date and any benefits accrued and due under any applicable benefit plans and programs of the Company. No other payments or benefits shall be due under this Agreement to the Executive. (b) In the event of the Executive’s Qualifying Termination, if the Executive executes and does not revoke a Release, the Executive shall be entitled to receive the following severance benefits: (i) The Company shall pay to the Executive an amount in cash equal to one (1) times the Executive’s annual base salary as in effect at the Termination Date. This severance amount will be paid in equal installments in accordance with the Company’s normal payroll practices over the twelve (12) month period following the Termination Date (the “Severance Period”). The first payment will be made on the first payroll date after the thirtieth (30th) day following the Termination Date, and the first payment will include the installments for the period between first thirty (30) days after the Termination Date and the date of the first paymentDate. (ii) The Company shall pay to the Executive a an amount in cash payment equal to one (1one(1) times the Executive’s target incentive award Target Incentive Award under the Radian Group Inc. STI STI/MTI Incentive Plan for Executive Employees, or any successor plan (“STI STI/MTI Program”) for the year in which the Termination Date occurs. The payment shall be made in a lump sum payment on the first payroll date after the thirtieth (30th) day following the Termination Date. (iii) The Company shall pay to the Executive a cash payment equal to the Executive’s prorated target incentive award Target Incentive Award under the Radian Group Inc. STI Incentive Plan for Employees, or any successor plan (the “STI Program”) STI/MTI Program for the year in which the Termination Date occurs. The prorated amount bonus will be an amount in cash equal to the Executive’s target incentive award Target Incentive Award under the STI STI/MTI Program for the year in which the Termination Date occurs, occurs multiplied by a fraction, the numerator of which is the number of days that the Executive was employed by the Company during the year of termination and the denominator of which is three hundred and sixty five (365). The payment shall be made in a lump sum payment on the first payroll date after the thirtieth (30th) day following the Termination Date. The payment under this Section 4(b)(ii4(b)(iii) shall not affect the Executive’s right to any prior year’s bonus STI Bonus or MTI Bonus amounts that may be payable under the STI STI/MTI Program in accordance with the terms of the STI Program and has not yet been paid as of the Termination DateSTI/MTI Program. (iv) For the period beginning on the Termination Date and ending on the earlier of (A) the date on which the Executive first becomes covered by any other “group health plan,” as described in section 4980B(g)(2) of the Code, or (B) the last day of the Severance Period (the “Coverage Period”), the Executive may elect continued health coverage under the Company’s health plan in which the Executive (and the Executive’s spouse and eligible dependents) participated at the Termination Date, as in effect from time to time, provided that the Executive shall be responsible for paying the full monthly cost of such coverage. The monthly cost of such coverage shall be the premium determined for purposes of continued coverage under section 4980B(f)(4) of the Code (“COBRA Premium”) in effect from time to time. During the Coverage Period, the Company shall reimburse the Executive for the COBRA Premium that the Executive pays for continued health coverage under the Company’s health plan, less the premium charge that is paid by the Company’s active employees for such coverage as in effect on the Termination Date. Such amounts shall be payable monthly over the Coverage Period and shall commence on the first payroll date after the thirtieth (30th) day following after the DB1/ 135647150.1 Executive’s Termination Date. The Company shall reimburse the Executive for COBRA Premiums pursuant to this Section 4(b)(iii4(b)(iv) only for the portion of the Coverage Period during which the Executive continues coverage under the Company’s health plan. The Executive agrees to promptly notify the Company of the Executive’s coverage under an alternate health arrangement upon becoming covered by such alternative arrangement. The COBRA health care continuation coverage period under section 4980B of the Code shall run concurrently with the Coverage Period. (v) The Executive shall be eligible for executive outplacement services, for up to twelve (12) months after the Termination Date, not to exceed a maximum of twenty thousand dollars ($20,000) in cost. The Company will pay the cost of these services directly to the outplacement provider. (vi) Notwithstanding the foregoing, all payments and benefits described in this Section 4(b) shall be conditioned on the Executive’s executing and not revoking a written release, substantially in the form attached as Exhibit A, which shall be updated to comply with applicable law and best practices based on the advice of Company counsel A (the “Release”), of any and all claims against the Company and all related parties (other than claims based upon any entitlements under the terms of this Agreement or accrued benefits under any plans or programs of the Company under which the Executive has accrued and is due a benefit). (c) Upon any Termination of Employment, the Company shall pay any accrued but unpaid salary through the Termination Date and any benefits accrued and due under any applicable benefit plans and programs of the Company.

Benefits Upon a Qualifying Termination. DB1/ 135647150.1 (a) If the Executive fails to execute, or revokes, a written Release, upon a Qualifying Termination, the Executive shall receive only any accrued but unpaid salary through the Termination Date and any benefits accrued and due under any applicable benefit plans and programs of the Company. No other payments or benefits shall be due under this Agreement to the Executive. (b) In the event of the Executive’s Qualifying Termination, if the Executive executes and does not revoke a Release, the Executive shall be entitled to receive the following severance benefits: (i) The Company shall pay to the Executive an amount in cash equal to one two (12) times the Executive’s annual base salary as in effect at the Termination Date. This severance amount will be paid in equal installments as follows: (i) the maximum amount that can be paid under the “separation pay” exception of section 409A of the Code ($500,000 for 2012, subject to adjustment as provided under applicable Treasury regulations) shall be payable in accordance with the Company’s normal payroll practices in eighteen (18) equal monthly installments over the twelve eighteen (1218) month period following the Termination Date (the “Severance Period”). The , with the first payment will be being made on the first payroll date after the thirtieth (30th) day following the Termination Date, Date and the such first payment will include including the installments for the period between first thirty (30) days after the Termination Date Date, and (ii) the date remainder of the first paymentseverance amount shall be paid in a lump sum payment between March 1 and March 15 of the calendar year following the Termination Date. (ii) The Company shall pay to the Executive a an amount in cash payment equal to one two (12) times the Executive’s target incentive award Target Incentive Award under the Radian Group Inc. STI STI/MTI Incentive Plan for Executive Employees, or any successor plan (“STI STI/MTI Program”) for the year in which the Termination Date occurs. The payment shall be made in a lump sum payment on the first payroll date after the thirtieth (30th) day following the Termination Date. (iii) The Company shall pay to the Executive a cash payment equal to the Executive’s prorated target incentive award Target Incentive Award under the Radian Group Inc. STI Incentive Plan for Employees, or any successor plan (the “STI Program”) STI/MTI Program for the year in which the Termination Date occurs. The prorated amount bonus will be an amount in cash equal to the Executive’s target incentive award Target Incentive Award under the STI STI/MTI Program for the year in which the Termination Date occurs, occurs multiplied by a fraction, the numerator of which is the number of days that the Executive was employed by the Company during the year of termination and the denominator of which is three hundred and sixty five (365). The payment shall be made in a lump sum payment on the first payroll date after the thirtieth (30th) day following the Termination Date. The payment under this Section 4(b)(ii4(b)(iii) shall not affect the Executive’s right to any prior year’s bonus STI Bonus or MTI Bonus amounts that may be payable under the STI STI/MTI Program in accordance with the terms of the STI Program and has not yet been paid as of the Termination DateSTI/MTI Program. (iv) For the period beginning on the Termination Date and ending on the earlier of (A) the date on which the Executive first becomes covered by any other “group health plan,” as described in section 4980B(g)(2) of the Code, or (B) the last day of the Severance Period (the “Coverage Period”), the Executive may elect continued health coverage under the Company’s health plan in which the Executive (and the Executive’s spouse and eligible dependents) participated at the Termination Date, as in effect from time to time, provided that the Executive shall be responsible for paying the full monthly cost of such coverage. The monthly cost of such coverage shall be the premium determined for purposes of continued coverage under section 4980B(f)(4) of the Code (“COBRA Premium”) in effect from time to time. During the Coverage Period, the Company shall reimburse the Executive for the COBRA Premium that the Executive pays for continued health coverage under the Company’s health plan, less the premium charge that is paid by the Company’s active employees for such coverage as in effect on the Termination Date. Such amounts shall be payable monthly over the Coverage Period and shall commence on the first payroll date after the thirtieth (30th) day following after the DB1/ 135647150.1 Executive’s Termination Date. Each payment under this Section 4(b)(iv) shall be made on an after-tax basis, after taking into consideration the federal, state and local income and payroll taxes imposed on such payment. The Company shall reimburse the Executive for COBRA Premiums pursuant to this Section 4(b)(iii4(b)(iv) only for the portion of the Coverage Period during which the Executive continues coverage under the Company’s health plan. The Executive agrees to promptly notify the Company of the Executive’s coverage under an alternate health arrangement upon becoming covered by such alternative arrangement. The COBRA health care continuation coverage period under section 4980B of the Code shall run concurrently with the Coverage Period. (v) The Executive shall be eligible for executive outplacement services, for up to twelve (12) months after the Termination Date, not to exceed a maximum of twenty five thousand dollars ($20,00025,000) in cost. The Company will pay the cost of these services directly to the outplacement provider. (vi) Notwithstanding the foregoing, all payments and benefits described in this Section 4(b) shall be conditioned on the Executive’s executing and not revoking a written release, substantially in the form attached as Exhibit A, which shall be updated to comply with applicable law and best practices based on the advice of Company counsel A (the “Release”), of any and all claims against the Company and all related parties (other than claims based upon any entitlements under the terms of this Agreement or accrued benefits under any plans or programs of the Company under which the Executive has accrued and is due a benefit). (c) Upon any Termination of Employment, the Company shall pay any accrued but unpaid salary through the Termination Date and any benefits accrued and due under any applicable benefit plans and programs of the Company.

Benefits Upon a Qualifying Termination. DB1/ 135647150.1 (a) If the Executive fails to execute, or revokes, a written Release, upon a Qualifying Termination, the Executive shall receive only any accrued but unpaid salary through the DB1/ 135493748.2 Termination Date and any benefits accrued and due under any applicable benefit plans and programs of the Company. No other payments or benefits shall be due under this Agreement to the Executive. (b) In the event of the Executive’s Qualifying Termination, if the Executive executes and does not revoke a Release, the Executive shall be entitled to receive the following severance benefits: (i) The Company shall pay to the Executive an amount in cash equal to one and one-half (11.5) times the Executive’s annual base salary as in effect at the Termination Date. This severance amount will be paid in equal installments in accordance with the Company’s normal payroll practices over the twelve eighteen (1218) month period following the Termination Date (the “Severance Period”)) to correspond to the amount paid. The first payment will be made on the first payroll date after the thirtieth (30th) day following the Termination Date, and the first payment will include the installments for the period between the Termination Date and the date of the first payment. (ii) The Company shall pay to the Executive a cash payment equal to one and one-half (11.5) times the Executive’s target incentive award under the Radian Group Inc. STI Incentive Plan for EmployeesPlan, or any successor plan (“STI Program”) for the year in which the Termination Date occurs. The payment shall be made in a lump sum payment on the first payroll date after the thirtieth (30th) day following the Termination Date. (iii) The Company shall pay to the Executive a cash payment equal to the Executive’s prorated target incentive award under the Radian Group Inc. STI Incentive Plan for Employees, or any successor plan (the “STI Program”) Program for the year in which the Termination Date occurs. The prorated amount will be an amount in cash equal to the Executive’s target incentive award under the STI Program for the year in which the Termination Date occurs, multiplied by a fraction, the numerator of which is the number of days that the Executive was employed by the Company during the year of termination and the denominator of which is three hundred and sixty five (365). The payment shall be made in a lump sum payment on the first payroll date after the thirtieth (30th) day following the Termination Date. The payment under this Section 4(b)(ii4(b)(iii) shall not affect the Executive’s right to any prior year’s bonus that may be payable under the STI Program in accordance with the terms of the STI Program and has not yet been paid as of the Termination Date. (iv) For the period beginning on the Termination Date and ending on the earlier of (A) the date on which the Executive first becomes covered by any other “group health plan,” as described in section 4980B(g)(2) of the Code, or (B) the last day of the Severance Period (the “Coverage Period”), the Executive may elect continued health coverage under the Company’s health plan in which the Executive (and the Executive’s spouse and eligible dependents) participated at the Termination Date, as in effect from time to time, provided that the Executive shall be responsible for paying the full monthly cost of such coverage. The monthly cost of such coverage shall be the premium determined for purposes of continued coverage under section 4980B(f)(4) of the Code (“COBRA Premium”) in effect from time to time. During the Coverage Period, the Company shall reimburse the Executive for the COBRA Premium that the Executive pays for continued health coverage under the Company’s health plan, less the premium charge that is paid by the Company’s active employees for such coverage as in effect on the Termination Date. Such amounts shall be payable monthly over the Coverage Period and shall commence on the first payroll date after the thirtieth (30th) day following the DB1/ 135647150.1 Executive’s Termination Date. The Company shall reimburse the Executive for COBRA Premiums pursuant to this Section 4(b)(iii4(b)(iv) only for the portion of the Coverage Period during which the Executive continues coverage under the Company’s health plan. The DB1/ 135493748.2 Executive agrees to promptly notify the Company of the Executive’s coverage under an alternate health arrangement upon becoming covered by such alternative arrangement. The COBRA health care continuation coverage period under section 4980B of the Code shall run concurrently with the Coverage Period. (v) The Executive shall be eligible for executive outplacement services, for up to twelve (12) months after the Termination Date, not to exceed a maximum of twenty thousand dollars ($20,000) in cost. The Company will pay the cost of these services directly to the outplacement provider. (vi) Notwithstanding the foregoing, all payments and benefits described in this Section 4(b) shall be conditioned on the Executive’s executing and not revoking a written release, substantially in the form attached as Exhibit A, which shall be updated to comply with applicable law and best practices based on the advice of Company counsel (the “Release”), of any and all claims against the Company and all related parties (other than claims based upon any entitlements under the terms of this Agreement or accrued benefits under any plans or programs of the Company under which the Executive has accrued and is due a benefit). (c) Upon any Termination of Employment, the Company shall pay any accrued but unpaid salary through the Termination Date and any benefits accrued and due under any applicable benefit plans and programs of the Company.

Benefits Upon a Qualifying Termination. DB1/ 135647150.1 (a) If the Executive fails to execute, or revokes, a written Release, upon a Qualifying Termination, the Executive shall receive only any accrued but unpaid salary through the Termination Date and any benefits accrued and due under any applicable benefit plans and programs of the Company. No other payments or benefits shall be due under this Agreement to the Executive. (b) In the event of the Executive’s Qualifying Termination, if the Executive executes and does not revoke a Release, the Executive shall be entitled to receive the following severance benefits: (i) The Company shall pay to the Executive an amount in cash equal to [one and a half (1.5)][one (1) )] times the Executive’s annual base salary as in effect at the Termination Date. This severance amount will be paid in equal installments in accordance with the Company’s normal payroll practices over the twelve [eighteen (18)][twelve (12) )] month period following the Termination Date (the “Severance Period”). The first payment will be made on the first payroll date after the thirtieth (30th) day following the Termination Date, and the first payment will include the installments for the period between first thirty (30) days after the Termination Date and the date of the first paymentDate. (ii) The Company shall pay to the Executive a an amount in cash payment equal to [one and a half (1.5)][one (1) )] times the Executive’s target incentive award Target Incentive Award under the Radian Group Inc. STI STI/MTI Incentive Plan for Executive Employees, or any successor plan (“STI STI/MTI Program”) for the year in which the Termination Date occurs. The payment shall be made in a lump sum payment on the first payroll date after the thirtieth (30th) day following the Termination Date. (iii) The Company shall pay to the Executive a cash payment equal to the Executive’s prorated target incentive award Target Incentive Award under the Radian Group Inc. STI Incentive Plan for Employees, or any successor plan (the “STI Program”) STI/MTI Program for the year in which the Termination Date occurs. The prorated amount bonus will be an amount in cash equal to the Executive’s target incentive award Target Incentive Award under the STI STI/MTI Program for the year in which the Termination Date occurs, occurs multiplied by a fraction, the numerator of which is the number of days that the Executive was employed by the Company during the year of termination and the denominator of which is three hundred and sixty five (365). The payment shall be made in a lump sum payment on the first payroll date after the thirtieth (30th) day following the Termination Date. The payment under this Section 4(b)(ii4(b)(iii) shall not affect the Executive’s right to any prior year’s bonus STI Bonus or MTI Bonus amounts that may be payable under the STI STI/MTI Program in accordance with the terms of the STI Program and has not yet been paid as of the Termination DateSTI/MTI Program. (iv) For the period beginning on the Termination Date and ending on the earlier of (A) the date on which the Executive first becomes covered by any other “group health plan,” as described in section 4980B(g)(2) of the Code, or (B) the last day of the Severance Period (the “Coverage Period”), the Executive may elect continued health coverage under the Company’s health plan in which the Executive (and the Executive’s spouse and eligible dependents) participated at the Termination Date, as in effect from time to time, provided that the Executive shall be responsible for paying the full monthly cost of such coverage. The monthly cost of such coverage shall be the premium determined for purposes of continued coverage under section 4980B(f)(4) of the Code (“COBRA Premium”) in effect from time to time. During the Coverage Period, the Company shall reimburse the Executive for the COBRA Premium that the Executive pays for continued health coverage under the Company’s health plan, less the premium charge that is paid by the Company’s active employees for such coverage as in effect on the Termination Date. Such amounts shall be payable monthly over the Coverage Period and shall commence on the first payroll date after the thirtieth (30th) day following after the DB1/ 135647150.1 Executive’s Termination Date. Each payment under this Section 4(b)(iv) shall be made on an after-tax basis, after taking into consideration the federal, state and local income and payroll taxes imposed on such payment. The Company shall reimburse the Executive for COBRA Premiums pursuant to this Section 4(b)(iii4(b)(iv) only for the portion of the Coverage Period during which the Executive continues coverage under the Company’s health plan. The Executive agrees to promptly notify the Company of the Executive’s coverage under an alternate health arrangement upon becoming covered by such alternative arrangement. The COBRA health care continuation coverage period under section 4980B of the Code shall run concurrently with the Coverage Period. (v) The Executive shall be eligible for executive outplacement services, for up to twelve (12) months after the Termination Date, not to exceed a maximum of twenty thousand dollars ($20,000) in cost. The Company will pay the cost of these services directly to the outplacement provider. (vi) Notwithstanding the foregoing, all payments and benefits described in this Section 4(b) shall be conditioned on the Executive’s executing and not revoking a written release, substantially in the form attached as Exhibit A, which shall be updated to comply with applicable law and best practices based on the advice of Company counsel A (the “Release”), of any and all claims against the Company and all related parties (other than claims based upon any entitlements under the terms of this Agreement or accrued benefits under any plans or programs of the Company under which the Executive has accrued and is due a benefit). (c) Upon any Termination of Employment, the Company shall pay any accrued but unpaid salary through the Termination Date and any benefits accrued and due under any applicable benefit plans and programs of the Company.

Benefits Upon a Qualifying Termination. DB1/ 135647150.1 (a) If the Executive fails to execute, or revokes, a written Release, upon a Qualifying Termination, the Executive shall receive only any accrued but unpaid salary through the Termination Date and any benefits accrued and due under any applicable benefit plans and programs of the Company. No other payments or benefits shall be due under this Agreement to the Executive. (b) In the event of the Executive’s Qualifying Termination, if the Executive executes and does not revoke a Release, the Executive shall be entitled to receive the following severance benefits: (i) The Company shall pay to the Executive an amount in cash equal to one (1) times the Executive’s annual base salary as in effect at the Termination Date. This severance amount will be paid in equal installments in accordance with the Company’s normal payroll practices over the twelve (12) month period following the Termination Date (the “Severance Period”). The first payment will be made on the first payroll date after the thirtieth (30th) day following the Termination Date, and the first payment will include the installments for the period between first thirty (30) days after the Termination Date and the date of the first paymentDate. (ii) The Company shall pay to the Executive a cash payment equal to one (1) times the Executive’s target incentive award prorated Target Incentive Award under the Radian Group Inc. STI STI/MTI Incentive Plan for Employees, or any successor plan (“STI Program”) for the year in which the Termination Date occurs. The payment shall be made in a lump sum payment on the first payroll date after the thirtieth (30th) day following the Termination Date. (iii) The Company shall pay to the Executive a cash payment equal to the Executive’s prorated target incentive award under the Radian Group Inc. STI Incentive Plan for Employees, or any successor plan (the “STI STI/MTI Program”) for the year in which the Termination Date occurs. The prorated amount bonus will be an amount in cash equal to the Executive’s target incentive award Target Incentive Award under the STI STI/MTI Program for the year in which the Termination Date occurs, occurs multiplied by a fraction, the numerator of which is the number of days that the Executive was employed by the Company during the year of termination and the denominator of which is three hundred and sixty five (365). The payment shall be made in a lump sum payment on the first payroll date after the thirtieth (30th) day following the Termination Date. The payment under this Section 4(b)(ii) shall not affect the Executive’s right to any prior year’s bonus STI Bonus or MTI Bonus amounts that may be payable under the STI STI/MTI Program in accordance with the terms of the STI Program and has not yet been paid as of the Termination DateSTI/MTI Program. (iviii) For the period beginning on the Termination Date and ending on the earlier of (A) the date on which the Executive first becomes covered by any other “group health plan,” as described in section 4980B(g)(2) of the Code, or (B) the last day of the Severance Period (the “Coverage Period”), the Executive may elect continued health coverage under the Company’s health plan in which the Executive (and the Executive’s spouse and eligible dependents) participated at the Termination Date, as in effect from time to time, provided that the Executive shall be responsible for paying the full monthly cost of such coverage. The monthly cost of such coverage shall be the premium determined for purposes of continued coverage under section 4980B(f)(4) of the Code (“COBRA Premium”) in effect from time to time. During the Coverage Period, the Company shall reimburse the Executive for the COBRA Premium that the Executive pays for continued health coverage under the Company’s health plan, less the premium charge that is paid by the Company’s active employees for such coverage as in effect on the Termination Date. Such amounts shall be payable monthly over the Coverage Period and shall commence on the first payroll date after the thirtieth (30th) day following after the DB1/ 135647150.1 Executive’s Termination Date. Each payment under this Section 4(b)(iii) shall be made on an after-tax basis, after taking into consideration the federal, state and local income and payroll taxes imposed on such payment. The Company shall reimburse the Executive for COBRA Premiums pursuant to this Section 4(b)(iii) only for the portion of the Coverage Period during which the Executive continues coverage under the Company’s health plan. The Executive agrees to promptly notify the Company of the Executive’s coverage under an alternate health arrangement upon becoming covered by such alternative arrangement. The COBRA health care continuation coverage period under section 4980B of the Code shall run concurrently with the Coverage Period. (viv) The Executive shall be eligible for executive outplacement services, for up to twelve (12) months after the Termination Date, not to exceed a maximum of twenty fifteen thousand dollars ($20,00015,000) in cost. The Company will pay the cost of these services directly to the outplacement provider. (viv) Notwithstanding the foregoing, all payments and benefits described in this Section 4(b) shall be conditioned on the Executive’s executing and not revoking a written release, substantially in the form attached as Exhibit A, which shall be updated to comply with applicable law and best practices based on the advice of Company counsel A (the “Release”), of any and all claims against the Company and all related parties (other than claims based upon any entitlements under the terms of this Agreement or accrued benefits under any plans or programs of the Company under which the Executive has accrued and is due a benefit). (c) Upon any Termination of Employment, the Company shall pay any accrued but unpaid salary through the Termination Date and any benefits accrued and due under any applicable benefit plans and programs of the Company.