Document:

Amendment No. 2  to Radian Group Inc. Pension Plan

 Exhibit 10.6 
 Radian Group Inc. Pension Plan 
 Amended and Restated Effective January 1, 1997 

Amendment No. 2 
 WHEREAS, the
Radian Group Inc. (the “Company”) maintains the Radian Group Inc. Pension Plan (the “Plan”) amended and restated in its entirety effective January 1, 1997 for the benefit of its eligible employees and the eligible employees
of the Participating Employers; and 
 WHEREAS, the Company, pursuant to the provisions of Section 15.1 of the Plan, has the ability to
amend the Plan by action of its Board of Directors; and 
 WHEREAS, the Board of Directors by Resolution taken on February 10, 2004,
authorized that the Singer Asset Finance Company, L.L.C. (“Singer”) shall become a Participating Employer under the Plan for the benefit of its eligible employees, effective January 1, 2004; and that, with respect to Singer employees
who first participate in the Plan on or after January 1, 2004, to recognize past service with Singer for the purposes of eligibility and vesting only, and to compute Credited Service for such Singer employees beginning no earlier than
January 1, 2004. 
 NOW THEREFORE, the Plan is hereby amended in the following respects, effective as of January 1, 2004:

 1. A new paragraph (c) is added to Section 1.12 to read as follows: 
 (c) For purposes of determining Credited Service for each Eligible Employee of Singer Asset Finance Company, L.L.C. who became a Participant on or after January 1, 2004, his service with Singer Asset Finance
Company, L.L.C. prior to January 1, 2004 shall not be considered. 
 2. A new paragraph is added to the end of Section 1.36 to read as follows:

 For purposes of determining Years of Service, each Eligible Employee of Singer Asset Finance Company, L.L.C. who became a
Participant on or after January 1, 2004, shall have all of his prior service with Singer Asset Finance Company, L.L.C. considered. 
 3. A new paragraph
is added to the end of Section 2.1 to read as follows: 
 Notwithstanding the foregoing, each Eligible Employee who is
employed by Singer Asset Finance Company, L.L.C. on January 1, 2004, shall become a Participant on the first day of the Employment 

 
Year that follows the later of (i) the date on which he first performs an Hour of Service with Singer Asset Finance Company, L.L.C. and (ii) the
date he attains age 20-1/2, but in no event earlier than January 1, 2004. 
 4. Schedule A is amended to read as follows: 
 SCHEDULE A 
 Participating Employers

 Radian Group Inc. 
 RadianExpress.com Inc. 
 Radian Guaranty Inc. 
 Radian Insurance Inc. 
 Radian Reinsurance Inc. 
 Singer Asset Finance Company, L.L.C 
 WITNESS
WHEREOF, Radian Group Inc. has caused this Amendment No. 2 to be executed by its duly authorized party on this 3rd day of March, 2004. 
  

			
	Radian Group Inc.
		
	By:	 	 /s/ Howard S. Yaruss

	Its:	 	EVP and General Counsel

  

 2Amendment No. 3 to Radian Group Inc. Pension Plan

 Exhibit 10.7 
 Radian Group Inc. Pension Plan 
 Amended and Restated Effective January 1, 1997 

Amendment No. 3 
 WHEREAS, the
Radian Group Inc. (the “Company”) maintains the Radian Group Inc. Pension Plan (the “Plan”) amended and restated in its entirety effective January 1, 1997 for the benefit of its eligible employees and the eligible employees
of the Participating Employers; and 
 WHEREAS, the Company, pursuant to the provisions of Section 15.1 of the Plan, has the ability to
amend the Plan by action of its Board of Directors; and 
 WHEREAS, the Company desires to amend the Plan to provide full vesting to certain
participants who are not United States citizens upon such participants’ permanent transfer of employment to Radian Representatives Ldt; and 
 WHEREAS, the Company desires to remove the provisions of the Plan which provide for the automatic payment of certain small benefits, and to add provisions which provide for a voluntary payment of such small benefits. 
 NOW THEREFORE, the Plan is hereby amended in the following respects, effective as of March 28, 2005, otherless otherwise indicated below:

 1. Effective February 1, 2004, Section 8.1 is amended to read as follows: 
 8.1 Termination of Employment After 5 or More Years of Service. 
 (a) Subject to the provisions of Article IX of the Plan in the event of reemployment, if a Participant incurs a Termination of Employment
prior to his Normal Retirement Date after completing at least 5 Years of Service, he shall have a nonforfeitable interest in his Accrued Benefit. 
 (b) Notwithstanding any provisions of the Plan to the contrary, if the Participants whose Social Security Numbers are
        -    -             and
        -    -             do not already have such nonforfeitable interest in their Accured Benefit
pursuant to Section 8.1(a), they shall be deemed to have a nonforfeitable interest in their Accured Benefit as of their first day of employment with Radian Representatives Ldt. UK. 
 2. The first, second and third paragraphs of Section 6.3 are amended to read as follows: 
 6.3
Qualified Joint and Survivor Annuity. Notwithstanding anything elsewhere in the Plan to the contrary, any Participant who is not married on his Annuity Starting Date shall receive payment of his 

 
benefit in the form of a Single Life Annuity and any Participant who is married on his Annuity Starting Date shall automatically be deemed to have elected to
receive an Actuarial Equivalent reduced benefit with 50% of the Participant’s reduced benefit to be paid to his Spouse after his death (the “Qualified Joint and Survivor Annuity”), effective as of his Annuity Starting Date, unless
such Participant shall have filed a written election with the Plan Administrator, within 90 days prior to such Annuity Starting Date, waiving the Qualified Joint and Survivor Annuity and electing an optional form of payment described in
Section 6.4. Each Participant shall file a written statement with the Plan Administrator indicating whether he is married, and shall notify the Plan Administrator of any subsequent change in his marital status occurring on or before his Annuity
Starting Date. 
 Any waiver of the Qualified Joint and Survivor Annuity filed by a Participant shall be effective only if the consent of the
Participant’s Spouse to such waiver is indicated thereon in writing and such consent explicitly acknowledges the effect of the waiver and is notarized, unless no such consent is necessary because (a) such Spouse cannot be located,
(b) the Participant and such Spouse are legally separated or the Participant has been abandoned by such Spouse (within the meaning of local law) and has a court order to such effect or (c) such other circumstance exists as a result of
which such consent is not required under applicable Treasury Regulations. Any consent by a Participant’s Spouse to a waiver of the Qualified Joint and Survivor Annuity shall be irrevocable. If any payment is made under the Plan in reasonable
reliance on (a) a written statement by the Participant that he is unmarried, (b) a Spousal consent that on its face conforms to the requirements set forth above or (c) evidence establishing to the Plan Administrator’s
satisfaction that a Participant’s Spouse cannot be located (or that Spousal consent is unnecessary because of the existence of the other circumstances described above), the Plan’s liability for such payment shall be satisfied to the extent
of such payment (and the Plan shall have no liability to any Spouse to such extent). 
 Any subsequent change (by a married Participant who
has previously filed a waiver) in his form of benefit (other than a reinstatement of the Qualified Joint and Survivor Annuity) shall not be effective unless a new waiver of the Qualified Joint and Survivor Annuity (containing the notarized consent
of the Participant’s Spouse as described above) is filed with the Plan Administrator. If the Spouse dies on or after the Participant’s Annuity Starting Date, the Participant shall continue to receive only the reduced benefit payable under
the Qualified Joint and Survivor Annuity, as though the Spouse had not died. 
  

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 3. Section 6.4 is amended in its entirety to read as follows: 
 6.4 Optional Forms of Payment. 
 (a)
Joint and Survivor Annuity Option. In lieu of a benefit payable in accordance with Section 6.3 of the Plan, a married Participant may, within 90 days prior to his Annuity Starting Date, elect to receive a reduced benefit payable monthly
during his lifetime, with 75% or 100% (as the Participant specifies) of such reduced benefit to be paid after his death to his Spouse. The reduced benefits payable to the Participant and his Spouse shall be the Actuarial Equivalent of the Single
Life Annuity for the Participant under Section 6.1 of the Plan. A benefit payable under this Section 6.4 of the Plan shall become effective on the Participant’s Annuity Starting Date. 
 Subject to Section 7.4 of the Plan, if a Participant dies before his Annuity Starting Date, his election of a Joint and Survivor Annuity Option shall
be void. If the Participant’s Spouse dies before the Participant’s Annuity Starting Date, his election of the Joint and Survivor Annuity Option shall be void. All payments under the Joint and Survivor Annuity Option shall cease with the
payment for the month in which the Participant or his Spouse dies, whichever is later. 
 (b) Lump Sum Option. At the election of the
Participant, if the Actuarial Equivalent lump sum value of the Participant’s Accrued Benefit is equal to or less than $5,000 at his Annuity Starting Date, distribution may be made in the form of a lump sum payable within a reasonable time after
the Participant has submitted a written election with the Plan Administrator. 
 4. Section 6.5 is amended in its entirety to read as follows:

 6.5 Termination without Vested Rights. Any Participant who shall terminate employment (other than by death) without vested rights to
a benefit under the Plan shall be considered, upon his Termination of Employment, to have received the full value of his interest in the Plan and he shall have no further rights under the Plan (subject to the provisions of the Plan concerning
reemployment). 
 5. The third paragraph of Section 12.1 is amended to read as follows: 
 The Plan Administrator shall establish reasonable procedures for determining the qualified status of any domestic relations order and for administering
distributions under any QDRO. No payments shall be made from the Plan pursuant to a QDRO 

  

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before the earliest date the Participant (a) is entitled to begin receiving benefits under the Plan or (b) (in the case of a Participant who is
still employed) would be entitled to thus begin receiving such benefits immediately, if he were to retire. 
 WITNESS WHEREOF, Radian Group Inc. has caused this Amendment No. 3 to be executed by its duly authorized party on this 5th day of May, 2005. 
  

			
	Radian Group Inc.
		
	By:	 	 /s/ Robert E. Croner

	Title:	 	SVP, Human Resources

  

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