Common use of Termination of Employment Before Vesting Date Clause in Contracts

Termination of Employment Before Vesting Date. In the event of the termination of the Employee’s employment with the PMI Group prior to the Vesting Date due to death or Disability, or upon the Employee reaching eligibility for Normal Retirement, the restrictions on the Shares shall lapse and the Shares shall become fully vested on the date of death, Disability, or eligibility for Normal Retirement. Subject to provisions of Section 6(a) of the Plan, if the Employee’s employment with the PMI Group is terminated for any reason other than death or Disability or Normal Retirement prior to the Vesting Date, the Employee shall forfeit all rights to the Shares. Notwithstanding the foregoing and except as provided in Section 6(a) of the Plan, the Compensation Committee of the Board of Directors of the Company may, in its sole discretion, waive the restrictions on, and the vesting requirements for, the Shares.

Termination of Employment Before Vesting Date. In the event of the termination of the Employee’s employment with the PMI Group Company (and with all subsidiaries and affiliates of the Company) prior to the Vesting Date due to death death, Disability or Disability, or upon the Employee reaching eligibility for Normal Retirement, the restrictions on the Deferred Shares shall lapse and the Deferred Shares shall become fully vested on the date of death, Disability, or eligibility for Normal Retirementsuch termination of employment. Subject to provisions of Section 6(a) of the Plan, if If the Employee’s employment with the PMI Group Company (and with all subsidiaries and affiliates of the Company) is terminated for any reason other than death or Disability death, Disability, or Normal Retirement prior to the Vesting Date, the Employee shall forfeit all rights to the SharesDeferred Shares immediately after termination of employment. Notwithstanding the foregoing and except as provided in Section 6(a) of the Planforegoing, the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”) may, in its sole discretion, waive the restrictions on, and the vesting requirements for, the Deferred Shares.

Termination of Employment Before Vesting Date. In the event of the termination of the Employee’s 's employment with the PMI Group Company (and with all subsidiaries and affiliates of the Company) prior to the Vesting Date due to death death, Disability or Disability, or upon the Employee reaching eligibility for Normal Retirement, the restrictions on the Deferred Shares shall lapse and the Deferred Shares shall become fully vested on the date of death, Disability, or eligibility for Normal Retirementsuch termination of employment. Subject to provisions of Section 6(a) of the Plan, if If the Employee’s 's employment with the PMI Group Company (and with all subsidiaries and affiliates of the Company) is terminated for any reason other than death or Disability death, Disability, or Normal Retirement prior to the Vesting Date, the Employee shall forfeit all rights to the SharesDeferred Shares immediately after termination of employment. Notwithstanding the foregoing and except as provided in Section 6(a) of the Planforegoing, the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”) may, in its sole discretion, waive the restrictions on, and the vesting requirements for, the Deferred Shares.

Termination of Employment Before Vesting Date. In the event of the termination of the Employee’s employment with the PMI Group Company (and with all subsidiaries and affiliates of the Company) prior to the Vesting Date due to death death, Disability or Disability, or upon the Employee reaching eligibility for Normal Retirement, the restrictions on the Deferred Shares shall lapse and the Deferred Shares shall become fully vested on the date of death, Disability, or eligibility for Normal Retirement. Subject to provisions of Section 6(a) of the Plan, if If the Employee’s employment with the PMI Group Company (and with all subsidiaries and affiliates of the Company) is terminated for any reason other than death or Disability death, Disability, or Normal Retirement prior to the Vesting Date, the Employee shall forfeit all rights to the SharesDeferred Shares immediately after termination of employment. Notwithstanding the foregoing and except as provided in Section 6(a) of the Planforegoing, the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”) may, in its sole discretion, waive the restrictions on, and the vesting requirements for, the Deferred Shares.