Document:

EX-10.1

Exhibit 10.1

AMENDMENT NO. 2

TO

SECOND AMENDED AND RESTATED CUSTOMER

AGREEMENT AND TRADING AUTHORIZATION

This Amendment No. 2 to the Second Amended and Restated Customer Agreement and Trading
Authorization dated as of November 20, 2008 (this “Amendment”), is entered into by and
between Max Diversified Strategies Ltd., a Bermuda company (the “Customer”) and Alstra Capital
Management, LLC (“Alstra”).

WHEREAS, the Customer and Alstra are parties to the Second Amended and Restated Customer Agreement
and Trading Authorization dated as of February 14, 2006 and amended on May 5, 2008 (the “Trading
Agreement”);

WHEREAS, each of the Customer and Alstra desires to amend the Trading Agreement upon the terms and
conditions herein contained.

Capitalized terms used in this Amendment, unless otherwise defined herein, shall have the meanings
set forth in the Trading Agreement.

NOW, THEREFORE, in consideration of the premises set forth above and for other good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto do
hereby agree as follows:

	1.	 	This Amendment shall be effective as of October 1, 2008.

	2.	 	Paragraph 8 of the Trading Agreement shall be deleted in its entirety, and the following
substituted therefore:

“8. (A) As compensation for Alstra’s trading manager services to be rendered to the
Customer pursuant to this Agreement, Customer shall pay to Alstra a management fee in
accordance with the following:

(i) Customer shall pay the management fee at the Applicable Rate (defined in subparagraph
8(A)(ii) below) per annum, payable quarterly in arrears until this Agreement is terminated
or the services of Alstra as trading manager pursuant to this Agreement are terminated by
either party. For the avoidance of doubt, the management fee for any partial year shall be
prorated for the period of trading manager services rendered during such year.

(ii) The term “Applicable Rate” shall mean the rate to be mutually agreed by the Customer
and Alstra annually with effect from October 1 of the applicable year through September 30
of the following year.

(iii) For the period beginning October 1, 2008, the Applicable Rate shall be USD 8,000,000.

(B) As of the fifteenth day following each quarter, the parties agree that Alstra may
collect from the Customer’s account 100% of the management fee due for such quarter just
ended.”

	3.	 	This Amendment may be executed in any number of counterparts, all of which taken together and
when delivered to the other parties shall constitute one and the same instrument.

	4.	 	Except as set forth herein, the Trading Agreement remains in full force and effect. Each
reference in the Trading Agreement to “this Agreement” shall mean the Trading Agreement as
amended prior to the date hereof and by this Amendment and as hereinafter amended or restated.

	5.	 	This Amendment shall be governed by and construed in accordance with the laws of the State of
New York, without regard to conflicts of law principles that would require the application of
the laws of another jurisdiction.

[Signature page follows]

1

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the 20th day
of November 2008.

ALSTRA CAPITAL MANAGEMENT, LLC

By:      

Name:

Title:

MAX DIVERSIFIED STRATEGIES LTD.

By:      

Name:

Title:

2EX-10.1

EXHIBIT 10.1

AMENDMENT NO. 2 TO

THE PMI GROUP, INC.

2005 OFFICER DEFERRED COMPENSATION PLAN

(September 19, 2007 Restatement)

THE PMI GROUP, INC., having adopted The PMI Group, Inc. 2005 Officer Deferred Compensation
Plan (the “Plan”) effective as of January 1, 2005, having amended and restated the Plan effective
as of September 19, 2007, and having further amended the restated Plan effective as of February 20,
2008, hereby again amends the restated Plan as follows:

1. Effective as of September 19, 2007, the first sentence of Section 1.15 is amended to read
as follows:

“1.15 “Eligible Employee” means (a) effective before September 19, 2007, an
employee of an Employer who holds office at the level of Vice President or above,
including any Assistant Vice President or Field Vice President, and (b) effective on
or after September 19, 2007, an employee of an Employer who holds office at the
level of Vice President or above, including any Assistant Vice President or Field
Vice President, upon the next Entry Date after his or her initial hire or promotion
(as the case may be).”

2. Effective as of September 19, 2007, the first sentence of Section 1.26 is amended by
deleting the word “Retirement” therefrom and substituting the word “retirement” therefor.

3. Effective as of September 19, 2007, the first sentence of Section 2.1.2(a)(i) is amended by
deleting the phrase “to the level of Vice President or above, including any Assistant Vice
President or Field Vice President” therefrom.

4. Effective as of January 1, 2005, the first sentence of Section 4.1 is amended by deleting
the phrase “all Compensation Deferrals made by the Participant during such Plan Year” therefrom and
substituting the phrase “the Base Salary deferral(s) (if any) made by the Participant during the
Plan Year, the Bonus deferral(s) (if any) made by the Participant during the Plan Year” therefor.

5. Effective as of May 1, 2007, Section 5.5 is amended in its entirety to read as
follows:

“5.5 Special Rule for Separation from Service. Subject to the provisions of
Sections 5.3 and 5.6:

(a) In the case of a Participant who incurs a Separation from Service and who,
pursuant to Section 3, has elected to receive his or her vested Account balance upon
his or her Separation of Service (an “Applicable Participant”), a distribution of
the vested balance credited to the Account shall be made or commenced on the Payment
Date that immediately follows the Applicable Participant’s Separation from Service
or as soon as administratively practicable thereafter, and in the form of payment
elected by the Participant pursuant to Section 3; provided, however, that any
scheduled installment payments that remain to be paid on January 31 of the second
calendar year immediately following the year in which the Participant incurred the
Separation from Service automatically will be distributed to him or her in a lump
sum cash payment on that date or as soon as administratively practicable thereafter.

(b) In the case of a Participant who is not an Applicable Participant and who
incurs a Separation from Service, a distribution of the vested balance (if any)
credited to the Participant’s Account shall be made in a lump sum cash payment on
January 31 of the second calendar year immediately following the year in which the
Participant incurred the Separation from Service or as soon as administratively
practicable thereafter; provided, however, that any vested Company Contributions or
vested Predecessor Plan Contributions credited to the Participant’s Account shall be
paid in whole Shares (with the balance, if any, in cash).

(c) Any amount to be distributed pursuant to the foregoing provisions of this
Section 5.5 shall continue to be credited (or debited) with deemed investment
returns, gains and losses in accordance with Section 3.4 until the date of payment.”

6. Effective as of January 1, 2005, a new Section 5.13 is added immediately after
Section 5.12 to read as follows:

“5.13 Designated Payment Date. Notwithstanding any contrary Plan provision,
any payment that is scheduled to be made to a Participant under the Plan on a
Payment Date or anniversary thereof (the “Designated Payment Date”) shall be made no
later than (a) the end of the Participant’s taxable year that includes the
Designated Payment Date, or (b) if later, the fifteenth (15th) day of the
third calendar month immediately following the Designated Payment Date. In no
event, however, shall the Participant be permitted, directly or indirectly, to
designate the taxable year of such payment.”

IN WITNESS WHEREOF, The PMI Group, Inc., by its duly authorized officer, has executed
this Amendment No. 2 to the restated Plan as of the date specified below.

THE PMI GROUP, INC.

	 	 	 
	Date: November 20, 2008

	 	By      /s/ Charles Broom     
	
 
	 	 
	
 
	 	Charles Broom

Senior Vice President, Human ResourcesEX-10.2

EXHIBIT 10.2

AMENDMENT NO. 1 TO

THE PMI GROUP, INC.

ADDITIONAL BENEFIT PLAN

(September 1, 2007 Restatement)

THE PMI GROUP, INC., having adopted The PMI Group, Inc. Additional Benefit Plan (the “Plan”)
effective as of February 18, 1999, and amended and restated the Plan in its entirety effective as
of September 20, 2006, and further amended and restated the Plan in its entirety effective as of
September 1, 2007, hereby amends the restated Plan as follows:

1. Effective as of January 1, 2008, Section 1.16 is amended by adding a new sentence at the
end of the Section to read as follows:

“Notwithstanding any contrary Plan provision, such Trust shall at all times be
located within the jurisdiction of the United States and shall not at any time
subsequently be transferred outside of such United States jurisdiction.”

2. Effective as of September 1, 2007, the second paragraph of Section 1.03(c) is
amended by deleting the reference to “this Section 1.02” and replacing it with “this
Section 1.03” in the first sentence.

2. Effective as of August 17, 2006, Section 4.07 is amended in its entirety to read as
follows:

“4.07 Contributions to Trust Upon a Change in Control Event.

(a) Upon a Change in Control Event and by the fifteenth (15th) business day
following the end of each calendar month of each Plan year thereafter, the Employer shall
irrevocably deposit cash (or its equivalent) to a Trust for the investment of benefits
payable under the Plan to or on account of each Participant. However, any contributions
made to the Trust in respect of each Participant shall remain subject to the claims of the
general creditors of the Employers. Nothing contained in this Section 4.07 shall give any
Participant or beneficiary any interest in or claim against any specific assets of the
Company.

(b) Notwithstanding the foregoing, if the Employer transfers funds into the Trust for
purposes of paying benefits to any current or former “Covered Employee” (as defined below)
during a “Restricted Period” (as defined below), the Employer shall subject the Covered
Employee to immediate income tax on funds and any applicable penalties under section 409A of
the Internal Revenue Code of 1986, as amended (the “Code”), and any applicable state tax
laws, regardless of whether such funds remain subject to the general creditors of the
Employer.

(1) The Employer’s “Covered Employees” are the top five covered employees under
section 162(m)(3) of the Code or any Employer executive subject to section 16(a) of
the Securities Exchange Act of 1934, as amended.

(2) The term “Restricted Period” shall be determined in accordance with section
409A(b)(3)(B) of the Code.”

IN WITNESS WHEREOF, The PMI Group, Inc., by its duly authorized officer, has executed
this Amendment No. 1 to the restated Plan as of the date specified below.

THE PMI GROUP, INC.

	 	 	 
	Date: November 20, 2008

	 	By _/s/ Charles Broom     
	
 
	 	 
	
 
	 	Charles Broom

Senior Vice President, Human Resources

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