Document:

EXHIBIT 10.10
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                           MGIC INVESTMENT CORPORATION

                                 INCENTIVE AWARD
                        RESTRICTED STOCK AWARD AGREEMENT

          THIS  AGREEMENT  is made and entered  into as of the date set forth on
the  signature  page  hereof  by and  between  MGIC  INVESTMENT  CORPORATION,  a
Wisconsin  corporation  (the  "Company"),  and the employee of the Company whose
signature is set forth on the signature page hereof (the "Employee").

                              W I T N E S S E T H :

          WHEREAS, the Company has adopted the MGIC Investment  Corporation 1991
Stock  Incentive Plan, as amended (the "Plan") to permit shares of the Company's
common stock, $1.00 par value per share (the "Stock"),  to be awarded to certain
key employees of the Company and any  subsidiary  (collectively,  "Participating
Company"); and

          WHEREAS,  the Employee is a key employee of a  Participating  Company,
and the Company  desires the Employee to remain in such employ and to further an
opportunity  for the  Employee's  stock  ownership  in the  Company  in order to
increase the Employee's proprietary interest in the success of the Company;

          NOW, THEREFORE,  in consideration of the premises and of the covenants
and agreements  herein set forth, the parties hereby mutually covenant and agree
as follows:

          1. Award of Restricted Stock.  Subject to the terms and conditions set
forth herein,  the Company awards the Employee the number of shares of Stock set
forth on the signature page hereof (the "Restricted Stock").

          2.  Restrictions.  Except as otherwise provided herein, the Restricted
Stock may not be sold,  transferred or otherwise alienated or hypothecated until
the date set forth on the signature page hereof (the "Release Date").

          3.  Escrow.  Shares  of  Restricted  Stock  shall be issued as soon as
practicable  in the name of the  Employee  but  shall be held in  escrow  by the
Company,  as escrow agent.  Upon issuance of such shares,  (i) the Company shall
give the Employee a receipt for the  Restricted  Stock held in escrow which will
state  that the  Company  holds  such  Stock in escrow  for the  account  of the
Employee,  subject to the terms of this  Agreement,  and (ii) the Employee shall
give the Company a stock power for such Stock duly  endorsed in blank which will
be held in escrow for use in the event such  Stock is  forfeited  in whole or in
part.  Unless forfeited as provided  herein,  Restricted Stock shall cease to be
held in  escrow  and  certificates  for such  Stock  shall be  delivered  to the
Employee,  or in the  case of his  death,  to his  Beneficiary  (as

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hereinafter  defined) on the Release Date or upon any other  termination  of the
restrictions imposed by Paragraph 2 hereof.

          4. Transfer After Release Date; Securities Law Restrictions. Except as
otherwise   provided   herein,   Restricted  Stock  shall  become  free  of  the
restrictions  of Paragraph 2 and be freely  transferable  by the Employee on the
Release Date.  Notwithstanding the foregoing or anything to the contrary herein,
the Employee agrees and  acknowledges  with respect to any Restricted Stock that
has not been registered under the Securities Act of 1933, as amended (the "Act")
(i) he will not sell or otherwise  dispose of such Stock  except  pursuant to an
effective  registration  statement  under  the  Act  and  any  applicable  state
securities  laws, or in a transaction  which,  in the opinion of counsel for the
Company,  is exempt from such registration,  and (ii) a legend will be placed on
the certificates or other evidence for the Restricted Stock to such effect.

          5.   Termination  of  Employment  Due  to  Death.  If  the  Employee's
employment with all Participating Companies is terminated because of death prior
to  the  Release  Date,  the  restrictions  of  Paragraph  2  applicable  to the
Restricted  Stock shall terminate on the date of death and such Restricted Stock
shall  be free  of such  restrictions  and,  except  as  otherwise  provided  in
Paragraph 4 hereof, freely transferable.

          6.  Termination  of  Employment  Other  Than  Due  to  Death.  If  the
Employee's  employment with the Company is terminated  prior to the Release Date
for any reason other than death,  all Restricted Stock shall be forfeited to the
Company on the date of such  termination  unless the Stock Award Committee which
administers the Plan (the "Committee") determines, on such terms and conditions,
if any, as the  Committee  may impose,  that all or a portion of the  Restricted
Stock shall be released to the  Employee  and the  restrictions  of  Paragraph 2
applicable thereto shall terminate. Absence of the Employee on leave approved by
a duly elected  officer of the Company,  other than the  Employee,  shall not be
considered a termination of employment during the period of such leave.

          7.  Beneficiary.  (a) The person whose name  appears on the  signature
page hereof after the caption  "Beneficiary" or any successor  designated by the
Employee in accordance herewith (the person who is the Employee's Beneficiary at
the time of his death herein referred to as the "Beneficiary") shall be entitled
to  receive  the  Restricted  Stock  to be  released  to the  Beneficiary  under
Paragraphs  3 and 5 as a result of the death of the  Employee.  The Employee may
from time to time  revoke or change his  Beneficiary  without the consent of any
prior Beneficiary by filing a new designation with the Committee.  The last such
designation received by the Committee shall be controlling;  provided,  however,
that no designation,  or change or revocation thereof, shall be effective unless
received by the Committee prior to the Employee's  death,  and in no event shall
any designation be effective as of a date prior to such receipt.

          (b) If no such Beneficiary  designation is in effect at the time of an
Employee's  death, or if no designated  Beneficiary  survives the Employee or if
such designation  conflicts with law, the Employee's estate shall be entitled to
receive the Restricted

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Stock upon the death of the  Employee.  If the  Committee  is in doubt as to the
right of any person to receive  such  Restricted  Stock,  the Company may retain
such Stock and any  distributions  thereon,  without  liability for any interest
thereon,  until the Committee  determines the person  entitled  thereto,  or the
Company may deliver such Restricted Stock and any  distributions  thereon to any
court  of  appropriate  jurisdiction  and  such  delivery  shall  be a  complete
discharge of the liability of the Company therefor.

          8.  Restricted  Stock  Legend.  In addition  to any legends  placed on
certificates  for Restricted  Stock or other evidence of ownership of Restricted
Stock under  Paragraph 4 hereof,  each  certificate  or such other  evidence for
shares of Restricted Stock shall bear the following legend:

          "The  sale or  other  transfer  of  these  shares  of  stock,  whether
          voluntary,  or by operation of law, is subject to certain restrictions
          set forth in the MGIC Investment Corporation 1991 Stock Incentive Plan
          and  a  Restricted  Stock  Award  Agreement  between  MGIC  Investment
          Corporation and the registered  owner hereof.  A copy of such Plan and
          such  Agreement may be obtained from the Secretary of MGIC  Investment
          Corporation."

When the  restrictions  imposed by  Paragraph 2 hereof  terminate,  the Employee
shall be entitled to have the foregoing legend removed from such Stock.

          9. Voting  Rights;  Dividends and Other  Distributions.  (a) While the
Restricted  Stock is subject to restrictions  under Paragraph 2 and prior to any
forfeiture  thereof,  the  Employee  may  exercise  full  voting  rights for the
Restricted Stock registered in his name and held in escrow hereunder.

          (b) While the Restricted  Stock is subject to the  restrictions  under
Paragraph 2 and prior to any forfeiture thereof,  the Employee shall be entitled
to  receive  all  dividends  and other  distributions  paid with  respect to the
Restricted Stock. If any such dividends or distributions are paid in Stock, such
shares  shall be subject to the same  restrictions  as the shares of  Restricted
Stock  with  respect to which they were paid,  including  the  requirement  that
Restricted Stock be held in escrow pursuant to Paragraph 3 hereof.

          (c) Subject to the  provisions of this  Agreement,  the Employee shall
have,  with  respect to the  Restricted  Stock,  all other  rights of holders of
Stock.

          10. Tax Withholding.  (a) It shall be a condition of the obligation of
the Company to issue or release from escrow  Restricted Stock to the Employee or
the  Beneficiary,  and the Employee  agrees,  that the Employee shall pay to the
Company upon its demand,  such amount as may be requested by the Company for the
purpose of satisfying its liability to withhold federal,  state, or local income
or other taxes incurred by reason of the award of the  Restricted  Stock or as a
result of the termination of the restrictions on such Stock hereunder.

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          (b) If the Employee  does not make an election  under Section 83(b) of
the Internal  Revenue Code of 1986, as amended,  with respect to the  Restricted
Stock awarded hereunder,  the Employee may satisfy the Company's withholding tax
requirements  by electing to have the Company  withhold that number of shares of
Restricted Stock otherwise  deliverable to the Employee from escrow hereunder or
to deliver to the  Company a number of shares of Stock,  in each case,  having a
fair market value (as  determined by the  Committee) on the Tax Date (as defined
below)  equal to the minimum  amount  required to be withheld as a result of the
termination of the  restrictions on such Restricted  Stock. The election must be
in writing and be delivered to the Company  prior to the Tax Date. If the number
of shares so calculated to be withheld  shall  include a fractional  share,  the
Employee  shall  deliver cash in lieu of such  fractional  share.  All elections
shall be made in a form  approved  by the  Committee  and  shall be  subject  to
disapproval,  in whole or in part, by the Committee.  As used herein, "Tax Date"
means the date on which the  Employee  must  include  in his  gross  income  for
federal income tax purposes the fair market value of the  Restricted  Stock over
the purchase price therefor.

          11.  Adjustments  in Event of  Change  in  Stock.  In the event of any
change in the outstanding shares of Stock ("capital adjustment") for any reason,
including   but  not   limited   to,   any   stock   splits,   stock   dividend,
recapitalization, merger, consolidation, reorganization, combination or exchange
of shares or other similar event which, in the judgment of the Committee,  could
distort the implementation of the Plan or the realization of its objectives, the
Committee may make such adjustments in the shares of Restricted Stock subject to
this Agreement, or in the terms, conditions or restrictions of this Agreement as
the Committee deems equitable.

          12.  Change in Control.  If a "Change in Control of the  Company"  (as
defined in Annex  attached  hereto)  occurs,  the  restrictions  of  Paragraph 2
applicable to the Restricted  Stock shall terminate on the date of the Change in
Control of the Company and such date shall be deemed to be the Release Date.

          13.  Powers of Company Not Affected.  The existence of the  Restricted
Stock  shall  not  affect in any way the  right or power of the  Company  or its
stockholders   to  make   or   authorize   any   combination,   subdivision   or
reclassification  of the  Stock or any  reorganization,  merger,  consolidation,
business  combination,  exchange  of shares,  or other  change in the  Company's
capital  structure or its business,  or any issue of bonds,  debentures or stock
having rights or preferences  equal,  superior or affecting the Restricted Stock
or the rights thereof, or dissolution or liquidation of the Company, or any sale
or transfer of all or any part of its assets or business, or any other corporate
act  or  proceeding,   whether  of  a  similar   character  or  otherwise.   The
determination of the Committee as to any such adjustment shall be conclusive and
binding for all  purposes of this  Agreement.  Nothing  herein  contained  shall
confer  upon  the  Employee  any  right to  continue  in the  employment  of any
Participating  Company  or  interfere  with or limit in any way the right of any
Participating  Company  to  terminate  the  Employee's  employment  at any time,
subject,  however,  to the provisions of any agreement of employment between any
Participating Company and the Employee.

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          14. Interpretation by Committee.  The Employee agrees that any dispute
or  disagreement  which may arise in  connection  with this  Agreement  shall be
resolved by the Committee,  in its sole discretion,  and that any interpretation
by  the  Committee  of  the  terms  of  this  Agreement  or  the  Plan  and  any
determination made by the Committee under this Agreement or the Plan may be made
in the sole  discretion  of the  Committee  and  shall be  final,  binding,  and
conclusive.  Any  such  determination  need  not be  uniform  and  may  be  made
differently among Employees awarded Restricted Stock.

          15. Miscellaneous.  (a) This Agreement shall be governed and construed
in  accordance  with the laws of the State of Wisconsin  applicable to contracts
made and to be performed therein between residents thereof.

          (b) The waiver by the Company of any provision of this Agreement shall
not operate or be construed to be a subsequent  waiver of the same  provision or
waiver of any other provision hereof.

          (c) The Restricted Stock shall be deemed to have been awarded pursuant
to the Plan and is subject to the terms and conditions  thereof. In the event of
any conflict  between the terms hereof and the provisions of the Plan, the terms
and conditions of the Plan shall prevail. Any and all terms used herein,  unless
specifically defined herein shall have the meaning ascribed to them in the Plan.

          (d) Any  notice,  filing or  delivery  hereunder  or with  respect  to
Restricted  Stock  shall be given to the  Employee  at  either  his  usual  work
location or his home address as  indicated  in the records of the  Company,  and
shall be given to the  Committee  or the  Company at 250 East  Kilbourn  Avenue,
Milwaukee 53202, Attention:  Secretary. All such notices shall be given by first
class mail, postage pre-paid, or by personal delivery.

          (e) This  Agreement  shall be binding upon and inure to the benefit of
the Company and its  successors  and assigns and shall be binding upon and inure
to  the   benefit  of  the   Employee,   the   Beneficiary   and  the   personal
representative(s)  and heirs of the  Employee,  except that the Employee may not
transfer  any  interest  in any  Restricted  Stock  prior to the  release of the
restrictions imposed by Paragraph 2.

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          IN WITNESS  WHEREOF,  the  Company has caused  this  instrument  to be
executed by its duly authorized officer and its corporate seal hereunto affixed,
and the Employee has hereunto affixed his hand and seal, all on the day and year
set forth below.

                                    MGIC INVESTMENT CORPORATION

(CORPORATE SEAL)                    By: ________________________________________
                                    Title: President and Chief Executive Officer

                                    _____________________________________ (SEAL)
                                    Name:

                                    No. of Shares of Restricted Stock:_________

                                    Date of Agreement:

                                    Release Date:

                                    Beneficiary:________________________________

                                    Address of Beneficiary:

                                    ____________________________________________

                                    ____________________________________________

                                    Beneficiary Tax Identification
                                    No:_________________________________________

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                                      ANNEX

       Definition of "Change in Control of the Company" and Related Terms

          1.  Change in  Control  of the  Company.  A "Change  in Control of the
Company"  shall be deemed to have  occurred  if an event set forth in any one of
the following paragraphs shall have occurred:

                    (i) any  Person  (other  than (A) the  Company or any of its
          subsidiaries,  (B) a trustee  or other  fiduciary  holding  securities
          under  any  employee  benefit  plan  of  the  Company  or  any  of its
          subsidiaries,   (C)  an  underwriter  temporarily  holding  securities
          pursuant to an offering of such securities or (D) a corporation owned,
          directly  or  indirectly,  by  the  shareholders  of  the  Company  in
          substantially  the same proportions as their ownership of stock in the
          Company  ("Excluded  Persons"))  is or becomes the  Beneficial  Owner,
          directly or indirectly, of securities of the Company (not including in
          the  securities  beneficially  owned  by such  Person  any  securities
          acquired  directly from the Company or its  Affiliates  after July 22,
          1999,  pursuant to express  authorization by the Board of Directors of
          the Company (the "Board") that refers to this exception)  representing
          50% or more of either the then  outstanding  shares of common stock of
          the  Company  or the  combined  voting  power  of the  Company's  then
          outstanding  voting  securities  entitled  to  vote  generally  in the
          election of directors; or

                    (ii) the  following  individuals  cease  for any  reason  to
          constitute  a majority of the number of  directors of the Company then
          serving: (A) individuals who, on July 22, 1999,  constituted the Board
          and  (B)  any  new  director  (other  than a  director  whose  initial
          assumption  of office is in  connection  with an actual or  threatened
          election contest, including but not limited to a consent solicitation,
          relating to the election of  directors  of the Company,  as such terms
          are used in Rule  14a-11  of  Regulation  14A  under  the  Act)  whose
          appointment or election by the Board or nomination for election by the
          Company's  shareholders  was approved by a vote of at least two-thirds
          (2/3) of the directors  then still in office who either were directors
          on July 22, 1999, or whose initial appointment, election or nomination
          for  election  as a director  which  occurred  after July 22, 1999 was
          approved  by such vote of the  directors  then  still in office at the
          time of such  initial  appointment,  election or  nomination  who were
          themselves  either directors on July 22, 1999 or initially  appointed,
          elected or nominated by such two-thirds  (2/3) vote as described above
          ad infinitum  (collectively  the  "Continuing  Directors");  provided,
          however,  that  individuals who are appointed to the Board pursuant to
          or in accordance with the terms of an agreement  relating to a merger,
          consolidation,  or share exchange involving the Company (or any direct
          or  indirect  subsidiary  of the  Company)  shall  not  be  Continuing
          Directors for purposes of this Agreement until after such  individuals
          are first  nominated  for  election  by a vote of at least  two-thirds
          (2/3) of the then Continuing  Directors and are thereafter  elected as

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          directors  by  the  shareholders  of  the  Company  at  a  meeting  of
          shareholders    held   following    consummation   of   such   merger,
          consolidation,  or share exchange;  and, provided further, that in the
          event the  failure of any such  persons  appointed  to the Board to be
          Continuing  Directors  results in a Change in Control of the  Company,
          the subsequent  qualification of such persons as Continuing  Directors
          shall  not alter the fact  that a Change  in  Control  of the  Company
          occurred; or

                    (iii) a  merger,  consolidation  or  share  exchange  of the
          Company with any other corporation is consummated or voting securities
          of the Company are issued in connection  with a merger,  consolidation
          or share exchange of the Company (or any direct or indirect subsidiary
          of the Company)  pursuant to applicable  stock exchange  requirements,
          other than (A) a merger,  consolidation  or share exchange which would
          result  in the  voting  securities  of the  Company  entitled  to vote
          generally in the election of directors  outstanding  immediately prior
          to  such  merger,   consolidation  or  share  exchange  continuing  to
          represent (either by remaining  outstanding or by being converted into
          voting  securities of the surviving  entity or any parent  thereof) at
          least 50% of the combined voting power of the voting securities of the
          Company or such  surviving  entity or any parent  thereof  entitled to
          vote  generally  in the election of directors of such entity or parent
          outstanding  immediately  after such  merger,  consolidation  or share
          exchange, or (B) a merger, consolidation or share exchange effected to
          implement a recapitalization  of the Company (or similar  transaction)
          in which no Person  (other than an Excluded  Person) is or becomes the
          Beneficial Owner, directly or indirectly, of securities of the Company
          (not including in the securities beneficially owned by such Person any
          securities  acquired directly from the Company or its Affiliates after
          July 22,  1999,  pursuant to express  authorization  by the Board that
          refers to this  exception)  representing  at least 50% of the combined
          voting  power of the  Company's  then  outstanding  voting  securities
          entitled to vote generally in the election of directors; or

                    (iv)  the  sale  or  disposition  by the  Company  of all or
          substantially  all of the Company's  assets (in one  transaction  or a
          series of related  transactions  within  any period of 24  consecutive
          months),  other than a sale or  disposition  by the  Company of all or
          substantially  all of the  Company's  assets  to an entity of which at
          least  75% of the  combined  voting  power  of the  voting  securities
          entitled to vote  generally in the  election of directors  immediately
          after  such  sale  are  owned by  Persons  in  substantially  the same
          proportions  as their  ownership of the Company  immediately  prior to
          such sale.

          2.  Related  Definitions.  For purposes of this Annex,  the  following
terms, when capitalized, shall have the following meanings:

                    (i) Act. The term "Act" means the Securities Exchange Act of
          1934, as amended.

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                    (ii)  Affiliate and  Associate.  The terms  "Affiliate"  and
          "Associate" shall have the respective  meanings ascribed to such terms
          in Rule l2b-2 of the General Rules and Regulations under the Act.

                    (iii)  Beneficial  Owner. A Person shall be deemed to be the
          "Beneficial Owner" of any securities:

                              (a)  which  such  Person  or any of such  Person's
                    Affiliates or Associates  has the right to acquire  (whether
                    such  right is  exercisable  immediately  or only  after the
                    passage of time) pursuant to any  agreement,  arrangement or
                    understanding,  or upon the exercise of  conversion  rights,
                    exchange rights, rights,  warrants or options, or otherwise;
                    provided,  however,  that a Person  shall not be deemed  the
                    Beneficial Owner of, or to beneficially  own, (A) securities
                    tendered  pursuant to a tender or exchange  offer made by or
                    on behalf of such Person or any of such Person's  Affiliates
                    or Associates  until such tendered  securities  are accepted
                    for purchase,  or (B)  securities  issuable upon exercise of
                    Rights issued pursuant to the terms of the Company's  Rights
                    Agreement,  dated as of July 22,  1999,  between the Company
                    and Firstar Bank  Milwaukee,  N.A.,  as amended from time to
                    time (or any  successor  to such Rights  Agreement),  at any
                    time before the issuance of such securities;

                              (b)  which  such  Person  or any of such  Person's
                    Affiliates or Associates,  directly or  indirectly,  has the
                    right to vote or dispose of or has "beneficial ownership" of
                    (as  determined  pursuant to Rule l3d-3 of the General Rules
                    and Regulations  under the Act),  including  pursuant to any
                    agreement, arrangement or understanding;  provided, however,
                    that a Person shall not be deemed the  Beneficial  Owner of,
                    or to beneficially own, any security under this Subsection 1
                    (c)  as  a   result   of  an   agreement,   arrangement   or
                    understanding  to  vote  such  security  if  the  agreement,
                    arrangement  or  understanding:  (A)  arises  solely  from a
                    revocable  proxy or consent given to such Person in response
                    to a public proxy or consent  solicitation made pursuant to,
                    and in accordance with, the applicable rules and regulations
                    under  the Act  and (B) is not  also  then  reportable  on a
                    Schedule l3D under the Act (or any  comparable  or successor
                    report); or

                              (c)  which are  beneficially  owned,  directly  or
                    indirectly,  by any other  Person  with which such Person or
                    any of  such  Person's  Affiliates  or  Associates  has  any
                    agreement,  arrangement or understanding  for the purpose of
                    acquiring,  holding,  voting (except pursuant to a revocable
                    proxy  as  described  in  Subsection  1(c)  (ii)  above)  or
                    disposing of any voting securities of the Company.

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                    (iv) Person.  The term "Person"  shall mean any  individual,
          firm,  partnership,   corporation  or  other  entity,   including  any
          successor (by merger or  otherwise) of such entity,  or a group of any
          of the foregoing acting in concert.

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<PAGE>

                           MGIC INVESTMENT CORPORATION

                        RESTRICTED STOCK AWARD AGREEMENT

          THIS  AGREEMENT  is made and entered  into as of the date set forth on
the  signature  page  hereof  by and  between  MGIC  INVESTMENT  CORPORATION,  a
Wisconsin  corporation  (the "Company"),  and the  non-employee  director of the
Company  whose  signature  is  set  forth  on the  signature  page  hereof  (the
"Non-Employee Director").

                              W I T N E S S E T H:

          WHEREAS,  the MGIC  Investment  Corporation  1991 Stock Incentive Plan
(hereinafter  referred  to, as amended,  as the "Plan"),  permits  shares of the
Company's common stock,  $1.00 par value per share (the "Stock"),  to be awarded
under its Deposit  Share  Program to  non-employee  directors of the Company who
elect to participate in the Program; and

          WHEREAS,  the Non-Employee  Director has elected to participate in the
Program.

          NOW, THEREFORE,  in consideration of the premises and of the covenants
and agreements  herein set forth, the parties hereby mutually covenant and agree
as follows:

          1.  Award of Restricted Stock. Subject to the terms and conditions set
forth herein, the Company hereby awards the Non-Employee  Director the number of
shares of Stock set forth on the signature page hereof (the "Restricted Stock").

          2.  Restrictions.  Except as otherwise provided herein, the Restricted
Stock may not be sold,  transferred or otherwise alienated or hypothecated until
the date set forth on the signature page hereof (the "Release Date").  Shares of
Restricted  Stock may be transferred by gift pursuant to the "Rules for Transfer
of Awards Under the 1991 Stock  Incentive  Plan"  attached to this  Agreement as
Exhibit A (the  "Rules").  Any  person to whom  shares of  Restricted  Stock are
transferred  pursuant  to  the  Rules  is  herein  referred  to as a  "Permitted
Transferee."

          3.  Escrow.  Certificates  for shares  of  Restricted  Stock  shall be
issued as soon as practicable in the name of the Non-Employee Director but shall
be held in escrow  by the  Company,  as  escrow  agent.  Upon  issuance  of such
certificates, (i) the Company shall give the Non-Employee Director a receipt for
the Restricted Stock held in escrow which will state that the Company holds such
Stock in escrow for the  account of the  Non-Employee  Director,  subject to the
terms of this  Agreement,  and (ii) the  Non-Employee  Director  shall  give the
Company a stock  power for such Stock duly  endorsed in blank which will be held
in escrow  for use in the event  such  Stock is  forfeited  in whole or in part.
Unless forfeited as provided herein,  Restricted Stock shall cease to be held in
escrow and  certificates  for such Stock  which have not been  transferred  to a
Permitted Transferee shall be delivered to the Non-Employee  Director, or in the
case of his

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<PAGE>

death, to his  Beneficiary (as hereinafter  defined) on the Release Date or upon
any other termination of the restrictions imposed by Paragraph 2 hereof.

          4.  Transfer After Release Date;  Securities Law Restrictions.  Except
as  otherwise  provided  herein,  Restricted  Stock  shall  become  free  of the
restrictions  of  Paragraph  2 and be freely  transferable  by the  Non-Employee
Director on the Release Date.  Notwithstanding  the foregoing or anything to the
contrary herein, the Non-Employee  Director agrees and acknowledges with respect
to any Restricted Stock that has not been registered under the Securities Act of
1933, as amended (the "Act"),  that (i) the Non-Employee  Director will not sell
or otherwise dispose of such Stock except pursuant to an effective  registration
statement  under  the Act and any  applicable  state  securities  laws,  or in a
transaction  which,  in the opinion of counsel for the  Company,  is exempt from
such registration,  and (ii) a legend will be placed on the certificates for the
Restricted Stock to such effect.

          5.  Termination  of  Directorship  Due to Death.  If the  Non-Employee
Director  ceases to be a director of the  Company by reason of the  Non-Employee
Director's  death,  (a)  the  restrictions  of  Paragraph  2  applicable  to the
Restricted  Stock  shall  terminate  and (b) the  vesting  requirements  for the
Restricted  Shares  shall  be  deemed  to  be  fulfilled  on  the  date  of  the
Non-Employee Director's death.

          6.  Forfeiture.  Awards of Restricted  Stock  hereunder  that have not
vested shall be forfeited by the  Non-Employee  Director and shall revert to the
Company upon the  Non-Employee  Director ceasing to be a director of the Company
for any reason other than the  Non-Employee  Director's  death or a "Permissible
Event,"  unless  otherwise  provided by the  Committee.  A Permissible  Event is
termination  of  service  as a  director  of the  Company  by  reason of (a) the
Non-Employee  Director being  ineligible for continued  service as a director of
the Company  under the  Company's  retirement  policy,  or (b) the  Non-Employee
Director's  taking a position  with or  providing  services  to a  governmental,
charitable or educational  institution whose policies prohibit continued service
on the Company's Board of Non-Employee Directors or under circumstances in which
that continued service as a director of the Company would be a violation of law.
If the Non-Employee Director ceases to be a director of the Company by reason of
a Permissible  Event,  the  Restricted  Stock shall  continue to vest during the
balance  of the  Restricted  Period  if (1) no later  than the date on which the
Non-Employee  Director ceases to be a director of the Company,  the Non-Employee
Director  enters into an  agreement  approved by the  Committee  under which the
Non-Employee Director agrees not to compete with the Company or its subsidiaries
during the balance of such  period and (2) the  Non-Employee  Director  complies
with  the  agreement.  All  Restricted  Stock  that  does  not so vest  shall be
forfeited to the Company, unless otherwise determined by the Committee.

          7.  Beneficiary.  (a) The person whose name  appears on the  signature
page hereof after the caption  "Beneficiary" or any successor  designated by the
Non-Employee Director in accordance herewith (the person who is the Non-Employee
Director's  Beneficiary  at the  time of his  death  herein  referred  to as the
"Beneficiary")  shall be entitled to receive the vested  Restricted  Stock to be
released to the Beneficiary under Paragraphs 3 and 5 as a result of the death of
the  Non-Employee  Director.  The  Non-Employee  Director  may from time to time
revoke or change

                                      -2-
<PAGE>

the  Beneficiary  without the consent of any prior  Beneficiary  by filing a new
designation  with the  Committee.  The last  such  designation  received  by the
Committee  shall be controlling;  provided,  however,  that no  designation,  or
change  or  revocation  thereof,  shall  be  effective  unless  received  by the
Committee prior to the Non-Employee  Director's death, and in no event shall any
designation  be  effective  as of a date  prior  to  such  receipt.  If no  such
Beneficiary  designation is in effect at the time of an Non-Employee  Director's
death, or if no designated  Beneficiary survives the Non-Employee Director or if
such designation conflicts with law, the Non-Employee Director's estate shall be
entitled  to receive  the  Restricted  Stock upon the death of the  Non-Employee
Director.

          (b)  A  Permitted   Transferee   shall  be  entitled  to  designate  a
Beneficiary  with respect to the shares of Restricted  Stock  transferred to the
Permitted  Transferee by completing the appropriate portion of the election form
contemplated by Paragraph 5 of the Rules (the "Election Form"). Such Beneficiary
shall be entitled to receive the vested  Restricted  Stock to be released  under
Paragraphs  3 and 5 as a result of the  death of the  Non-Employee  Director  or
otherwise to be released hereunder if, in either case, the Permitted  Transferee
dies,  prior to such  release.  The Permitted  Transferee  may from time to time
revoke or change such Beneficiary  without the consent of any prior  Beneficiary
by  filing a new  designation  with the  Committee.  The last  such  designation
received by the  Committee  shall be  controlling,  provided,  however,  that no
designation, or change or revocation thereof, shall be effective unless received
by the Committee prior to the  Non-Employee  Director's  death,  and in no event
shall any  designation  be effective as of a date prior to such  receipt.  If no
such   designated   Beneficiary   survives  the   Permitted   Transferee,   such
Beneficiary's  estate, of if such designation  conflicts with law, the Permitted
Transferee's  estate, shall be entitled to receive the Restricted Stock released
hereunder.

          (c) If the  Committee  is in doubt as to the  right of any  person  to
receive  such  Restricted  Stock,  the Company  may retain  such Stock,  without
liability for any interest  thereon,  until the Committee  determines the person
entitled thereto,  or the Company may deliver such Restricted Stock to any court
of appropriate  jurisdiction and such delivery shall be a complete  discharge of
the liability of the Company therefor.

          8.  Certificate   Legend.   In  addition  to  any  legends  placed  on
certificates for Restricted Stock under Paragraph 4 hereof, each certificate for
shares of Restricted Stock shall bear the following legend:

          "The sale or other transfer of the shares of stock represented by this
          certificate,  whether voluntary, or by operation of law, is subject to
          certain restrictions set forth in the MGIC Investment Corporation 1991
          Stock  Incentive  Plan,  as  amended,  and a  Restricted  Stock  Award
          Agreement between MGIC Investment Corporation and the registered owner
          hereof.  A copy of such Plan and such  Agreement  may be obtained from
          the Secretary of MGIC Investment Corporation."

                                      -3-
<PAGE>

When the  restrictions  imposed by Paragraph 2 hereof  terminate,  the foregoing
legend  shall be  removed  from the  certificates  representing  such Stock upon
request of the  Non-Employee  Director  or a Permitted  Transferee  for whom the
shares have been transferred.

          9. Voting Rights; Dividends and Other Distributions.

          (a)  While the  Restricted  Stock is  subject  to  restrictions  under
Paragraph 2 and prior to any forfeiture thereof,  the Non-Employee  Director may
exercise full voting rights for the Restricted  Stock registered in his name and
held in escrow hereunder.

          (b) While the Restricted  Stock is subject to the  restrictions  under
Paragraph 2 and prior to any forfeiture thereof, the Non-Employee Director shall
be entitled to receive all dividends and other  distributions  paid with respect
to the  Restricted  Stock.  If any such dividends or  distributions  are paid in
Stock,  such shares shall be subject to the same  restrictions  as the shares of
Restricted Stock with respect to which they were paid, including the requirement
that Restricted Stock be held in escrow pursuant to Paragraph 3 hereof.

          (c) Subject to the  provisions  of this  Agreement,  the  Non-Employee
Director shall have, with respect to the Restricted  Stock,  all other rights of
holders of Stock.

          10.  Adjustments  in Event of  Change  in  Stock.  In the event of any
change in the outstanding shares of Stock ("capital adjustment") for any reason,
including   but  not   limited   to,   any   stock   splits,   stock   dividend,
recapitalization, merger, consolidation, reorganization, combination or exchange
of shares or other similar event which, in the judgment of the Committee,  could
distort the implementation of the Plan or the realization of its objectives, the
Committee may make such adjustments in the shares of Restricted Stock subject to
this Agreement, or in the terms, conditions or restrictions of this Agreement as
the Committee deems equitable.

          11.  Change in Control.  If a "Change in Control of the  Company"  (as
defined in Annex  attached  hereto)  occurs,  the  restrictions  of  Paragraph 2
applicable to the Restricted  Stock shall terminate on the date of the Change in
Control of the Company.

          12.  Powers of Company Not Affected.  The existence of the  Restricted
Stock  shall  not  affect in any way the  right or power of the  Company  or its
stockholders   to  make   or   authorize   any   combination,   subdivision   or
reclassification  of the  Stock or any  reorganization,  merger,  consolidation,
business  combination,  exchange  of shares,  or other  change in the  Company's
capital  structure or its business,  or any issue of bonds,  debentures or stock
having rights or preferences  equal,  superior or affecting the Restricted Stock
or the rights thereof, or dissolution or liquidation of the Company, or any sale
or transfer of all or any part of its assets or business, or any other corporate
act  or  proceeding,   whether  of  a  similar   character  or  otherwise.   The
determination of the Committee as to any such adjustment shall be conclusive and
binding for all purposes of this Agreement. Nothing herein shall confer upon the
Non-Employee  Director the right to continue as a member of the Company's  Board
of Directors.

                                      -4-
<PAGE>

          13. Interpretation by Committee. The Non-Employee Director agrees that
any dispute or  disagreement  which may arise in connection  with this Agreement
shall  be  resolved  by the  Committee,  in its  sole  discretion,  and that any
interpretation  by the Committee of the terms of this  Agreement or the Plan and
any determination  made by the Committee under this Agreement or the Plan may be
made in the sole  discretion of the Committee and shall be final,  binding,  and
conclusive.  Any  such  determination  need  not be  uniform  and  may  be  made
differently among Non-Employee Directors awarded Restricted Stock.

          14. Miscellaneous.

          (a) This Agreement  shall be governed and construed in accordance with
the laws of the  State  of  Wisconsin  applicable  to  contracts  made and to be
performed therein between residents thereof.

          (b) The waiver by the Company of any provision of this Agreement shall
not operate or be construed to be a subsequent  waiver of the same  provision or
waiver of any other provision hereof.

          (c) The Restricted Stock shall be deemed to have been awarded pursuant
to the Plan and is subject to the terms and conditions  thereof. In the event of
any conflict  between the terms hereof and the provisions of the Plan, the terms
and conditions of the Plan shall prevail. Any and all terms used herein,  unless
specifically defined herein shall have the meaning ascribed to them in the Plan.

          (d) Any  notice,  filing or  delivery  hereunder  or with  respect  to
Restricted  Stock shall be given to the  Non-Employee  Director at either his or
her address as indicated  in the records of the Company to which  communications
are generally  sent to him or her;  shall be given to a Permitted  Transferee at
his  address  as  indicated  in the  Election  Form;  and  shall be given to the
Committee  or  the  Company  at  250  East  Kilbourn  Avenue,  Milwaukee  53202,
Attention:  Secretary.  All such  notices  shall be given by first  class  mail,
postage pre-paid, or by personal delivery.

          (e) This  Agreement  shall be binding upon and inure to the benefit of
the Company and its  successors  and assigns and shall be binding upon and inure
to the benefit of the  Non-Employee  Director,  any  Permitted  Transferee,  the
Beneficiary  and the personal  representative(s)  and heirs of the  Non-Employee
Director, except that the Non-Employee Director may not transfer any interest in
any  Restricted  Stock  prior to the  release  of the  restrictions  imposed  by
Paragraph 2 other than as provided in Paragraph 2.

          (f) The term  "certificate"  as used  herein  with regard to shares of
Restricted  Stock,  includes  electronic  registration  in  the  system  of  the
Company's transfer agent for the Stock.

          15.  Deposit Share Program.  In the event of any conflict  between the
terms hereof and the terms and  conditions  of Section 6(e) of the Plan relating
to the Deposit  Share  Program,  the terms and  conditions of Section 6(e) shall
prevail.

                                      -5-
<PAGE>

          16. Permitted Transferee.  In the event Shares of Restricted Stock are
transferred to a Permitted Transferee, (i) the provisions of Paragraphs 3, 4, 9,
and 13 shall apply  mutatis  muntandis to the shares so  transferred  and to the
Permitted Transferee; (ii) the provisions of Paragraphs 5, 8, 10, 11, 12, 14 and
15 shall  continue to apply  without  any change  with  respect to the shares so
transferred;  and (iii) the  provisions  of Paragraph 6 shall  continue to apply
without any change with  respect to the shares so  transferred,  except that the
shares to be forfeited  shall be those shares of Restricted  Stock that have not
vested and which are held by the Permitted Transferee.

          IN WITNESS  WHEREOF,  the  Company has caused  this  instrument  to be
executed by its duly  authorized  officer,  and the  Non-Employee  Director  has
hereunto affixed his hand and seal, all on the day and year set forth below.

MGIC INVESTMENT CORPORATION

By:_______________________________  ____________________________________________

                                    No. of Shares of Restricted Stock:_________

                                    Date of Agreement:

                                    Award Date:

                                    Release Date:

                                    Beneficiary:_______________________________

                                    Address of Beneficiary:

                                    ____________________________________________
                                    ____________________________________________

                                    Beneficiary's Tax Identification
                                    Number:____________________________________

                                      -6-
<PAGE>

                                      ANNEX

       Definition of "Change in Control of the Company" and Related Terms

          1.  Change in  Control  of the  Company.  A "Change  in Control of the
Company"  shall be deemed to have  occurred  if an event set forth in any one of
the following paragraphs shall have occurred:

                    (i) any  Person  (other  than (A) the  Company or any of its
          subsidiaries,  (B) a trustee  or other  fiduciary  holding  securities
          under  any  employee  benefit  plan  of  the  Company  or  any  of its
          subsidiaries,   (C)  an  underwriter  temporarily  holding  securities
          pursuant to an offering of such securities or (D) a corporation owned,
          directly  or  indirectly,  by  the  shareholders  of  the  Company  in
          substantially  the same proportions as their ownership of stock in the
          Company  ("Excluded  Persons"))  is or becomes the  Beneficial  Owner,
          directly or indirectly, of securities of the Company (not including in
          the  securities  beneficially  owned  by such  Person  any  securities
          acquired  directly from the Company or its  Affiliates  after July 22,
          1999,  pursuant to express  authorization by the Board of Directors of
          the Company (the "Board") that refers to this exception)  representing
          50% or more of either the then  outstanding  shares of common stock of
          the  Company  or the  combined  voting  power  of the  Company's  then
          outstanding  voting  securities  entitled  to  vote  generally  in the
          election of directors; or

                    (ii) the  following  individuals  cease  for any  reason  to
          constitute  a majority of the number of  directors of the Company then
          serving: (A) individuals who, on July 22, 1999,  constituted the Board
          and  (B)  any  new  director  (other  than a  director  whose  initial
          assumption  of office is in  connection  with an actual or  threatened
          election contest, including but not limited to a consent solicitation,
          relating to the election of  directors  of the Company,  as such terms
          are used in Rule  14a-11  of  Regulation  14A  under  the  Act)  whose
          appointment or election by the Board or nomination for election by the
          Company's  shareholders  was approved by a vote of at least two-thirds
          (2/3) of the directors  then still in office who either were directors
          on July 22, 1999, or whose initial appointment, election or nomination
          for  election  as a director  which  occurred  after July 22, 1999 was
          approved  by such vote of the  directors  then  still in office at the
          time of such  initial  appointment,  election or  nomination  who were
          themselves  either directors on July 22, 1999 or initially  appointed,
          elected or nominated by such two-thirds  (2/3) vote as described above
          ad infinitum  (collectively  the  "Continuing  Directors");  provided,
          however,  that  individuals who are appointed to the Board pursuant to
          or in accordance with the terms of an agreement  relating to a merger,
          consolidation,  or share exchange involving the Company (or any direct
          or  indirect  subsidiary  of the  Company)  shall  not  be  Continuing
          Directors for purposes of this Agreement until after such  individuals
          are first  nominated  for  election  by a vote of at least  two-thirds
          (2/3) of the then Continuing  Directors and are thereafter  elected as
          directors  by  the  shareholders  of  the  Company  at  a  meeting  of
          shareholders    held

                                      -7-
<PAGE>

          following  consummation  of  such  merger,  consolidation,   or  share
          exchange;  and, provided further, that in the event the failure of any
          such persons appointed to the Board to be Continuing Directors results
          in a Change in Control of the Company, the subsequent qualification of
          such persons as Continuing  Directors  shall not alter the fact that a
          Change in Control of the Company occurred; or

                    (iii) a  merger,  consolidation  or  share  exchange  of the
          Company with any other corporation is consummated or voting securities
          of the Company are issued in connection  with a merger,  consolidation
          or share exchange of the Company (or any direct or indirect subsidiary
          of the Company)  pursuant to applicable  stock exchange  requirements,
          other than (A) a merger,  consolidation  or share exchange which would
          result  in the  voting  securities  of the  Company  entitled  to vote
          generally in the election of directors  outstanding  immediately prior
          to  such  merger,   consolidation  or  share  exchange  continuing  to
          represent (either by remaining  outstanding or by being converted into
          voting  securities of the surviving  entity or any parent  thereof) at
          least 50% of the combined voting power of the voting securities of the
          Company or such  surviving  entity or any parent  thereof  entitled to
          vote  generally  in the election of directors of such entity or parent
          outstanding  immediately  after such  merger,  consolidation  or share
          exchange, or (B) a merger, consolidation or share exchange effected to
          implement a recapitalization  of the Company (or similar  transaction)
          in which no Person  (other than an Excluded  Person) is or becomes the
          Beneficial Owner, directly or indirectly, of securities of the Company
          (not including in the securities beneficially owned by such Person any
          securities  acquired directly from the Company or its Affiliates after
          July 22,  1999,  pursuant to express  authorization  by the Board that
          refers to this  exception)  representing  at least 50% of the combined
          voting  power of the  Company's  then  outstanding  voting  securities
          entitled to vote generally in the election of directors; or

                    (iv)  the  sale  or  disposition  by the  Company  of all or
          substantially  all of the Company's  assets (in one  transaction  or a
          series of related  transactions  within  any period of 24  consecutive
          months),  other than a sale or  disposition  by the  Company of all or
          substantially  all of the  Company's  assets  to an entity of which at
          least  75% of the  combined  voting  power  of the  voting  securities
          entitled to vote  generally in the  election of directors  immediately
          after  such  sale  are  owned by  Persons  in  substantially  the same
          proportions  as their  ownership of the Company  immediately  prior to
          such sale.

          2.  Related  Definitions.  For purposes of this Annex,  the  following
terms, when capitalized, shall have the following meanings:

                    (i) Act. The term "Act" means the Securities Exchange Act of
          1934, as amended.

                                      -8-
<PAGE>

                    (ii)  Affiliate and  Associate.  The terms  "Affiliate"  and
          "Associate" shall have the respective  meanings ascribed to such terms
          in Rule l2b-2 of the General Rules and Regulations under the Act.

                    (iii)  Beneficial  Owner. A Person shall be deemed to be the
          "Beneficial Owner" of any securities:

                              (a)  which  such  Person  or any of such  Person's
                    Affiliates or Associates  has the right to acquire  (whether
                    such  right is  exercisable  immediately  or only  after the
                    passage of time) pursuant to any  agreement,  arrangement or
                    understanding,  or upon the exercise of  conversion  rights,
                    exchange rights, rights,  warrants or options, or otherwise;
                    provided,  however,  that a Person  shall not be deemed  the
                    Beneficial Owner of, or to beneficially  own, (A) securities
                    tendered  pursuant to a tender or exchange  offer made by or
                    on behalf of such Person or any of such Person's  Affiliates
                    or Associates  until such tendered  securities  are accepted
                    for purchase,  or (B)  securities  issuable upon exercise of
                    Rights issued pursuant to the terms of the Company's  Rights
                    Agreement,  dated as of July 22,  1999,  between the Company
                    and Firstar Bank  Milwaukee,  N.A.,  as amended from time to
                    time (or any  successor  to such Rights  Agreement),  at any
                    time before the issuance of such securities;

                              (b)  which  such  Person  or any of such  Person's
                    Affiliates or Associates,  directly or  indirectly,  has the
                    right to vote or dispose of or has "beneficial ownership" of
                    (as  determined  pursuant to Rule l3d-3 of the General Rules
                    and Regulations  under the Act),  including  pursuant to any
                    agreement, arrangement or understanding;  provided, however,
                    that a Person shall not be deemed the  Beneficial  Owner of,
                    or to beneficially own, any security under this Subsection 1
                    (c)  as  a   result   of  an   agreement,   arrangement   or
                    understanding  to  vote  such  security  if  the  agreement,
                    arrangement  or  understanding:  (A)  arises  solely  from a
                    revocable  proxy or consent given to such Person in response
                    to a public proxy or consent  solicitation made pursuant to,
                    and in accordance with, the applicable rules and regulations
                    under  the Act  and (B) is not  also  then  reportable  on a
                    Schedule l3D under the Act (or any  comparable  or successor
                    report); or

                              (c)  which are  beneficially  owned,  directly  or
                    indirectly,  by any other  Person  with which such Person or
                    any of  such  Person's  Affiliates  or  Associates  has  any
                    agreement,  arrangement or understanding  for the purpose of
                    acquiring,  holding,  voting (except pursuant to a revocable
                    proxy  as  described  in  Subsection  1(c)  (ii)  above)  or
                    disposing of any voting securities of the Company.

                                      -9-
<PAGE>

                    (iv) Person.  The term "Person"  shall mean any  individual,
          firm,  partnership,   corporation  or  other  entity,   including  any
          successor (by merger or  otherwise) of such entity,  or a group of any
          of the foregoing acting in concert.

                                      -10-EXHIBIT 10.11
                                                                   -------------

                             EXECUTIVE BONUS PLAN OF
                           MGIC INVESTMENT CORPORATION
                                 (the "Company")

The  Executive  Bonus  Plan of the  Company  in  effect  for 2000  (which is not
contained  in a formal  plan  document),  applies  to  certain  officers  of the
Company,  including the executive officers of the Company identified in the Form
10-K for the year ended  December 31, 1999.  Under the Executive  Bonus Plan, if
the  Company  achieves  a minimum  level of net income  for 2000,  an  executive
officer will be eligible for a bonus,  depending  upon the  executive  officer's
individual  performance,  within  various ranges of up to 200% of such executive
officer's  base  salary,  depending  on the range  applicable  to the  executive
officer.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00005-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00005-of-00352.parquet"}]]