EXHIBIT 10.13
MGIC INVESTMENT CORPORATION
OTHER COMPENSATION AGREEMENTS WITH
EXECUTIVE OFFICERS AND DIRECTORS
The following agreements, which are not evidenced by any formal
instruments, have been entered into with the MGIC Investment Corporation (the
"Company") by the persons referred to below.
Agreements Relating to Compensation of Senior Management
On January 24, 2007, the Management Development, Nominating and Governance
Committee (the "Committee") of the Company's Board of Directors approved the
following new base salaries for the following executive officers: Xxxx X.
Xxxxxx, Chairman and Chief Executive Officer -- $830,000; Xxxxxxx Xxxxx,
President and Chief Operating Officer -- $485,000; X. Xxxxxxx Xxxxx, Chief
Financial Officer -- $426,000; Xxxxxxxx X. Xxxxxxxxxxxx, Executive Vice
President - Risk Management of Mortgage Guaranty Insurance Corporation, the
Company's principal subsidiary -- $416,000; and Xxxxxxx X. Xxxx, General Counsel
-- $353,000. The new base salaries are effective April 2, 2007.
The Committee also approved cash bonuses for these officers based on
performance for the year ended December 31, 2006 as follows: Xx. Xxxxxx --
$1,280,649; Mr. Xxxxx -- $558,334; Xx. Xxxxx -- $492,254; Xx. Xxxxxxxxxxxx --
$480,290; and Xx. Xxxx -- $408,259. These executive officers will participate in
the Company's bonus framework for 2007, which is the same as the bonus framework
for 2006 filed as Exhibit 1 to the Company's Current Report on Form 8-K dated
May 17, 2005.
