Document:

Form of U.S. Restricted Stock Unit Award Agreement

 Exhibit 10.2 
 GSI GROUP INC. 
 2010 INCENTIVE AWARD PLAN 

RESTRICTED STOCK UNIT AWARD GRANT NOTICE 
 GSI Group Inc., a company organized under the laws of the Province of New Brunswick, Canada (together with any successor thereto, the “Company”), pursuant to its 2010 Incentive
Award Plan, as amended from time to time (the “Plan”), hereby grants to the holder listed below (“Participant”), an award of restricted stock units (“Restricted Stock Units”).
Each Restricted Stock Unit represents the right to receive one share of Common Stock (as defined in the Plan) upon vesting of such Restricted Stock Unit. This award of Restricted Stock Units is subject to all of the terms and conditions set forth
herein and in the Restricted Stock Unit Award Agreement attached hereto as Exhibit A (the “Restricted Stock Unit Award Agreement”) and the Plan, each of which are incorporated herein by reference. 

 

			
	Participant:	  	[                     ]
		
	Total Number of Restricted Stock Units:	  	[                    ]

Participant agrees not to disclose the terms of this Grant Notice to any entity or person unless the Company agrees to such disclosure in
advance and in writing; provided that Participant may, without such permission, (a) make such disclosures as are required by applicable law, including disclosures to taxing agencies and pursuant to federal or state securities law, and
(b) disclose the terms of this Grant Notice to his or her attorney(s), accountant(s) and tax advisor(s), as reasonably necessary, and to members of his or her immediate family; provided, further, that Participant instructs such
person(s) that the terms of this Grant Notice are strictly confidential and are not to be revealed to anyone else except as required by applicable law. 
 By his or her signature and the Company’s signature below, Participant agrees to be bound by the terms and conditions of the Plan, the Restricted Stock Unit Award Agreement and this Grant Notice.
Participant has reviewed the Restricted Stock Unit Award Agreement, the Plan and this Grant Notice in their entirety and fully understands all provisions of this Grant Notice, the Restricted Stock Unit Award Agreement and the Plan. If Participant is
married, his or her spouse has signed the Consent of Spouse attached to this Grant Notice as Exhibit B. 
  

									
	GSI GROUP INC.:	 	 	 	PARTICIPANT:
					
	By:	 	  
	 		 	By:	 	  

	Print Name:	 	  
	 		 	Name:	 	[                     ]
	Title:	 	  
	 		 		 	
	Address:	 	  
	 		 	Address:	 	  

		 	  
	 		 		 	  

 EXHIBIT A 
 TO RESTRICTED STOCK UNIT AWARD GRANT NOTICE 
 GSI GROUP INC. RESTRICTED
STOCK UNIT AWARD AGREEMENT 
 Pursuant to the Restricted Stock Unit Award Grant Notice (the “Grant
Notice”) to which this Restricted Stock Unit Award Agreement (this “Agreement”) is attached, GSI Group Inc., a company organized under the laws of the Province of New Brunswick, Canada (the
“Company”), has granted to Participant an award of restricted stock units (“Restricted Stock Units” or “RSUs”) under the GSI Group Inc. 2010 Incentive Award Plan, as amended
from time to time (the “Plan”). 
 ARTICLE 1. 

GENERAL 

1.1 Defined Terms. Capitalized terms not specifically defined herein shall have the meanings specified in the Grant Notice or the
Plan. As used herein, the term “stock unit” shall mean a non-voting unit of measurement which is deemed for bookkeeping purposes to be equivalent to one outstanding share of Common Stock (subject to adjustment as provided in Article 13 of
the Plan) solely for purposes of the Plan and this Agreement. The Restricted Stock Units shall be used solely as a device for the determination of the payment to eventually be made to Participant if such Restricted Stock Units vest pursuant to
Section 2.3 hereof. The Restricted Stock Units shall not be treated as property or as a trust fund of any kind. 
 1.2
Incorporation of Terms of Plan. The RSUs are subject to the terms and conditions of the Plan which are incorporated herein by reference. In the event of any conflict between the provisions of this Agreement and the Plan, the terms of the Plan
shall control. 
 ARTICLE 2. 
 GRANT OF RESTRICTED STOCK UNITS 
 2.1 Grant of RSUs. In
consideration of Participant’s past and/or continued employment with or service to the Company or a Subsidiary and for other good and valuable consideration, effective as of
[            ] (the “Grant Date”), the Company grants to Participant an award of RSUs as set forth in the Grant Notice, upon the terms and conditions set
forth in the Plan and this Agreement, subject to adjustments as provided in Article 13 of the Plan. 
 2.2 Company’s
Obligation to Pay. Each RSU has a value equal to the Fair Market Value of a share of Common Stock on the date it becomes vested. Unless and until the RSUs will have vested in the manner set forth in Article 2 hereof, Participant will have no
right to payment of any such RSUs. Prior to actual payment of any vested RSUs, such RSUs will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company. 

2.3 Vesting Schedule. 
 (a) Subject to Sections 2.3(b) and 2.5 hereof, the RSUs awarded by the Grant Notice will, subject to Participant’s continued employment or services through the applicable vesting dates, vest and
become nonforfeitable with respect to the applicable portion thereof according to the following vesting schedule: 
 (i)
33-1/3% of the RSUs shall vest and become nonforfeitable on the first anniversary of the Grant Date; 

  
 A-1

 (ii) 33-1/3% of the RSUs shall vest and become nonforfeitable on the second anniversary of
the Grant Date; and 
 (iii) 33-1/3% of the RSUs shall vest and become nonforfeitable on the third anniversary of the Grant
Date. 
 Other than with respect to the final installment, the number of RSUs that shall vest and become nonforfeitable on each applicable
vesting date shall be rounded down to the next whole number. Except as set forth in Section 2.3(b), unless otherwise determined by the Administrator, partial employment or service, even if substantial, during any vesting period will not entitle
Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a Termination of Service as provided in Section 2.5 hereof or under the Plan. 

(b) Notwithstanding Section 2.3(a) hereof, but subject to Section 2.5 hereof, the RSUs will become fully vested and
nonforfeitable with respect to all shares of Common Stock covered thereby immediately prior to a Change in Control (and subject to the consummation of, and Participant’s continued employment or services until immediately prior to, such Change
in Control). 
 2.4 Consideration to the Company. As a condition precedent to the grant of the award of RSUs by the
Company, Participant shall have executed and delivered to the Company an Employee Patent and Proprietary Information Utilization, Non-Competition and Non-Solicitation Agreement (or similar agreement) in the Company’s then-applicable form. In
further consideration of the grant of the award of RSUs by the Company, Participant agrees to render faithful and efficient services to the Company or any Subsidiary. Nothing in the Plan or this Agreement shall confer upon Participant any right to
continue in the employ or service of the Company or any Subsidiary or shall interfere with or restrict in any way the rights of the Company and its Subsidiaries, which rights are hereby expressly reserved, to discharge or terminate the services of
Participant at any time for any reason whatsoever, with or without cause, except to the extent expressly provided otherwise in a written agreement between the Company or a Subsidiary and Participant. 

2.5 Forfeiture, Termination and Cancellation upon Termination of Service. Notwithstanding any contrary provision of this
Agreement, except as otherwise set forth in Section 2.3(b), upon Participant’s Termination of Service for any or no reason, all then unvested RSUs subject to this Agreement will thereupon be automatically forfeited, terminated and
cancelled as of the applicable termination date without payment of any consideration by the Company, and Participant, or Participant’s beneficiary or personal representative, as the case may be, shall have no further rights hereunder.

 2.6 Payment upon Vesting. 
 (a) As soon as administratively practicable following the vesting of any Restricted Stock Units pursuant to Section 2.3 hereof, but in no event later than sixty (60) days after such vesting date
(for the avoidance of doubt, this deadline is intended to comply with the “short-term deferral” exemption from Section 409A of the Code), the Company shall deliver to Participant (or any transferee permitted under Section 3.2
hereof) a number of shares of Common Stock (either by delivering one or more certificates for such shares or by entering such shares in book entry form, as determined by the Company in its sole discretion) equal to the number of Restricted Stock
Units subject to this award that vest on the applicable vesting date, unless such Restricted Stock Units terminate prior to the given 

  
 A-2

 
vesting date pursuant to Section 2.5 hereof; provided, however, that to the extent any RSUs become vested pursuant to Section 2.3(b) hereof, the Company shall deliver such shares
of Common Stock to Participant immediately upon vesting prior to the Change in Control (subject to the consummation of such Change in Control). Notwithstanding the foregoing, in the event shares of Common Stock cannot be issued pursuant to
Section 2.7(a), (b) or (c) hereof, then the shares of Common Stock shall be issued pursuant to the preceding sentence as soon as administratively practicable after the Administrator determines that shares of Common Stock can again be
issued in accordance with Sections 2.7(a), (b) and (c) hereof. 
 (b) Notwithstanding anything to the contrary in this
Agreement, the Company shall be entitled to require payment by Participant of any sums required by applicable law to be withheld with respect to the grant of RSUs or the issuance of shares of Common Stock. Such payment shall be made by deduction
from other compensation payable to Participant or in the following other form of consideration: 
 (i) Cash or check;

 (ii) Surrender of shares of Common Stock (including, without limitation, shares of Common Stock otherwise issuable under the
RSUs) held for such period of time as may be required by the Administrator in order to avoid adverse accounting consequences and having a Fair Market Value on the date of delivery equal to the minimum amount required to be withheld by statute; or

 (iii) Other property acceptable to the Administrator (including, without limitation, through the delivery of a notice that
Participant has placed a market sell order with a broker with respect to shares of Common Stock then issuable under the RSUs, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in
satisfaction of its withholding obligations; provided that payment of such proceeds is then made to the Company upon settlement of such sale). 
 The Company shall not be obligated to deliver any new certificate representing shares of Common Stock to Participant or Participant’s legal representative or enter such share of Common Stock in book
entry form unless and until Participant or Participant’s legal representative shall have paid or otherwise satisfied in full the amount of all federal, state and local taxes applicable to the taxable income of Participant resulting from the
grant of the RSUs or the issuance of shares of Common Stock. 
 2.7 Conditions to Delivery of Common Stock. Subject to
Section 11.4 of the Plan, the shares of Common Stock deliverable hereunder, or any portion thereof, may be either previously authorized but unissued shares of Common Stock or issued shares of Common Stock which have then been reacquired by the
Company. Such shares of Common Stock shall be fully paid and nonassessable. The Company shall not be required to issue or deliver any shares of Common Stock deliverable hereunder or portion thereof prior to fulfillment of all of the following
conditions: 
 (a) The admission of such shares of Common Stock to listing on all stock exchanges on which such Common Stock is
then listed; 
 (b) The completion of any registration or other qualification of such shares of Common Stock under any state or
federal law or under rulings or regulations of the Securities and Exchange Commission or of any other governmental regulatory body, which the Administrator shall, in its absolute discretion, deem necessary or advisable; 

  
 A-3

 (c) The obtaining of any approval or other clearance from any state or federal governmental
agency which the Administrator shall, in its absolute discretion, determine to be necessary or advisable; 
 (d) The receipt by
the Company of all payments in connection with such shares of Common Stock, including payment of any applicable withholding tax, which may be in one or more of the forms of consideration permitted under Section 2.6 hereof; and 

(e) The lapse of such reasonable period of time following the vesting of any Restricted Stock Units as the Administrator may from time to
time establish for reasons of administrative convenience. 
 2.8 Rights as Stockholder. The holder of the RSUs shall not
be, nor have any of the rights or privileges of, a stockholder of the Company, including, without limitation, voting rights and rights to dividends, in respect of the RSUs and any shares of Common Stock underlying the RSUs and deliverable hereunder
unless and until such shares of Common Stock shall have been issued by the Company and held of record by such holder (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company). No
adjustment will be made for a dividend or other right for which the record date is prior to the date the shares of Common Stock are issued, except as provided in Section 13.2 of the Plan. 

ARTICLE 3. 

OTHER PROVISIONS 
 3.1 Administration. The Administrator shall have the power to interpret the Plan, this Agreement and the Grant Notice and to adopt such rules for the administration, interpretation and application
of the Plan as are consistent therewith and to interpret, amend or revoke any such rules. All actions taken and all interpretations and determinations made by the Administrator in good faith shall be final and binding upon Participant, the Company
and all other interested persons. No member of the Committee or the Board shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan, this Agreement or the RSUs. 

3.2 Grant is Not Transferable. During the lifetime of Participant, the RSUs may not be sold, pledged, assigned or transferred in
any manner other than by will or the laws of descent and distribution, unless and until the shares of Common Stock underlying the RSUs have been issued, and all restrictions applicable to such shares of Common Stock have lapsed. Neither the RSUs nor
any interest or right therein shall be liable for the debts, contracts or engagements of Participant or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or
any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be
null and void and of no effect, except to the extent that such disposition is permitted by the preceding sentence. 
 3.3
Binding Agreement. Subject to the limitation on the transferability of the RSUs contained herein, this Agreement will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the
parties hereto. 
 3.4 Adjustments Upon Specified Events. The Administrator may accelerate payment and vesting of the
Restricted Stock Units in such circumstances as it, in its sole discretion, may determine. In addition, upon the occurrence of certain events relating to the Common Stock contemplated by 

  
 A-4

 
Article 13 of the Plan (including, without limitation, an extraordinary cash dividend on such Common Stock), the Administrator shall make such adjustments the Administrator deems appropriate in
the number of Restricted Stock Units then outstanding and the number and kind of securities that may be issued in respect of the Restricted Stock Units. Participant acknowledges that the RSUs are subject to amendment, modification and termination in
certain events as provided in this Agreement and Article 13 of the Plan. 
 3.5 Notices. Any notice to be given under the
terms of this Agreement to the Company shall be addressed to the Company in care of the Secretary of the Company at the Company’s principal office, and any notice to be given to Participant shall be addressed to Participant at
Participant’s last address reflected on the Company’s records. By a notice given pursuant to this Section 3.5, either party may hereafter designate a different address for notices to be given to that party. Any notice shall be deemed
duly given when sent via email or when sent by certified mail (return receipt requested) and deposited (with postage prepaid) in a post office or branch post office regularly maintained by the United States Postal Service. 

3.6 Titles. Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of
this Agreement. 
 3.7 Governing Law. The laws of the Commonwealth of Massachusetts shall govern the interpretation,
validity, administration, enforcement and performance of the terms of this Agreement regardless of the law that might be applied under principles of conflicts of laws. 
 3.8 Conformity to Securities Laws. Participant acknowledges that the Plan and this Agreement are intended to conform to the extent necessary with all provisions of the Securities Act and the
Exchange Act and any and all regulations and rules promulgated by the Securities and Exchange Commission thereunder, and state securities laws and regulations. Notwithstanding anything herein to the contrary, the Plan shall be administered, and the
RSUs are granted, only in such a manner as to conform to such laws, rules and regulations. To the extent permitted by applicable law, the Plan and this Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and
regulations. 
 3.9 Amendments, Suspension and Termination. To the extent permitted by the Plan, this Agreement may be
wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Committee or the Board; provided that, except as may otherwise be provided by the Plan, no amendment, modification, suspension
or termination of this Agreement shall adversely affect the RSUs in any material way without the prior written consent of Participant. 
 3.10 Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the successors and
assigns of the Company. Subject to the restrictions on transfer herein set forth in Section 3.2 hereof, this Agreement shall be binding upon Participant and his or her heirs, executors, administrators, successors and assigns. 

3.11 Limitations Applicable to Section 16 Persons. Notwithstanding any other provision of the Plan or this Agreement, if
Participant is subject to Section 16 of the Exchange Act, the Plan, the RSUs and this Agreement shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any
amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by applicable law, this Agreement shall be deemed amended to the extent necessary to conform to such applicable
exemptive rule. 

  
 A-5

 3.12 Entire Agreement. The Plan, the Grant Notice and this Agreement constitute the
entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof. 
 3.13 Section 409A. The RSUs are not intended to constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Code (together with any Department of
Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued after the date hereof, “Section 409A”). However, notwithstanding
any other provision of the Plan, the Grant Notice or this Agreement, if at any time the Administrator determines that the RSUs (or any portion thereof) may be subject to Section 409A, the Administrator shall have the right in its sole
discretion (without any obligation to do so or to indemnify Participant or any other person for failure to do so) to adopt such amendments to the Plan, the Grant Notice or this Agreement, or adopt other policies and procedures (including amendments,
policies and procedures with retroactive effect), or take any other actions, as the Administrator determines are necessary or appropriate either for the RSUs to be exempt from the application of Section 409A or to comply with the requirements
of Section 409A. 
 3.14 Limitation on Participant’s Rights. Participation in the Plan confers no rights or
interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of
itself, has any assets. Participant shall have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the RSUs, and rights no greater than the right to receive
the Common Stock as a general unsecured creditor with respect to RSUs, as and when payable hereunder. 
 3.15 Account
Administration. The Company may from time to time appoint a broker to administer the awards under the Plan. To the extent the Company appoints such a broker, Participant agrees that he or she shall, upon request by the Company, open an employee
brokerage services account at such broker. 

  
 A-6

 EXHIBIT B 
 TO RESTRICTED STOCK UNIT AWARD GRANT NOTICE 
 CONSENT OF SPOUSE

 I,
                                        ,
spouse of
                                        ,
have read and approve the foregoing GSI Group Inc. Restricted Stock Unit Award Agreement (the “Agreement”). In consideration of issuing to my spouse the shares of the common stock of GSI Group Inc. set forth in the Agreement,
I hereby appoint my spouse as my attorney-in-fact in respect to the exercise of any rights under the Agreement and agree to be bound by the provisions of the Agreement insofar as I may have any rights in said Agreement or any shares of the common
stock of GSI Group Inc. issued pursuant thereto under the community property laws or similar laws relating to marital property in effect in the state of our residence as of the date of the signing of the foregoing Agreement. 

 

			
	Dated:                     	  	  

		  	Signature of Spouse

  
 B-1Radian Group Inc. 2008 Executive Long-Term Incentive Cash Plan

 Exhibit 10.2 
 RADIAN GROUP INC. 
 2008 EXECUTIVE LONG-TERM INCENTIVE CASH PLAN

 AS AMENDED AND RESTATED AS OF
MAY 10, 2011 
 1. Purpose. 
 The purpose of the Radian Group Inc. 2008 Executive Long-Term Incentive Cash Plan (the “Plan”) is to assist Radian Group Inc. and its subsidiaries (collectively, the
“Company”) in attracting, retaining, and motivating certain executives and other key officers of the Company by providing them with additional long term cash incentives. The purpose of the Plan is to be achieved by the grant of
Performance Awards, as defined below. 
 2. Eligibility. 
 Eligibility under the Plan shall be limited to executives and other key officers of the Company as determined by the Compensation and Human Resources Committee (the “Committee”) of the
Board of Directors of the Company (the “Board”) following the recommendations of the Company’s Chief Executive Officer (“CEO”). 
 3. Administration. 
 (a) Administrator. The Plan shall be
administered by the Committee, taking into account the recommendations of the CEO and of such other senior officers as the Committee may determine. The Committee may delegate its authority to administer the Plan to a sub-committee of its members.
The term “Administrator” shall mean the Committee, or any such sub-committee to which authority has been delegated. The Administrator may rely on the services of the Company’s Human Resources department as necessary or
convenient for the administration of the Plan. 
 (b) Powers and Authority. The Administrator shall have full power and
discretionary authority to establish the rules and regulations relating to the Plan, to interpret the Plan and those rules and regulations, to select eligible persons who will receive Performance Awards (“Award Recipients”), to
determine each Award Recipient’s Target Award, Award Term, Performance Goals, and Payout Amount, each as defined below, to make all factual and other determinations in connection with the Plan, and to take all other actions necessary or
appropriate for the proper administration of the Plan, including the delegation of such authority or power, where appropriate. All powers of the Administrator shall be executed in its sole discretion, in the best interest of the Company, and in
keeping with the objectives of the Plan and need not be uniform as to similarly situated individuals. The Administrator’s administration of the Plan, including all such rules and regulations, interpretations, selections, determinations,
approvals, decisions, delegations, amendments, terminations and other actions, shall be final and binding on the Company and all Award Recipients and their respective beneficiaries. Performance Awards shall be made conditional upon the Award
Recipient’s acknowledgment, by receipt of the Performance Award, that all decisions and determinations of the Administrator shall be final and binding on the Award Recipient, his or her beneficiaries and any other person having or claiming an
interest under such Performance Award. 
 4. Performance Awards. 
 (a) Performance Award Defined. A “Performance Award” is a right to receive a cash payment, contingent on (i) the achievement of certain Performance Goals over the Award Term,
each as defined below, and (ii) the Administrator’s assessment of the performance of the Company and/or the Award Recipient over the Award Term, in each case as determined by the Administrator in its sole discretion. 

(b) Award Term. Performance Awards will be measured over such period of time as shall be established by the Administrator (the
“Award Term”). Award Terms may be of varying and overlapping durations and may be tied to vesting requirements as specified in the Award Letter. Performance Awards shall be subject to forfeiture until the conclusion of the Award
Term or satisfaction of any vesting requirements, except as may otherwise be provided in Section 5 below. 
 (c)
Performance Goals. The Administrator shall establish the performance goals for each Award Term. The performance goals may include any one or more of several criteria, such as, but not limited to, capital management, return on capital
employed, revenue growth, market share, margin growth, return on equity, total stockholder return, increase in net after-tax earnings per share, market price per share, growth in market price per share, increase in operating pre-tax earnings,
operating profit or improvements in operating profit, improvements in certain asset or financial measures (including working capital and 

 
the ratio of revenues to working capital), credit quality, expense management and expense ratios, pre-tax earnings or variations of income criteria in varying time periods, economic value added,
or general comparisons with other peer companies or industry groups or classifications with regard to one or more of these criteria (the “Performance Goals”) and are subject to adjustment as provided in Section 4(e). The
Performance Goals may be measured with respect to the Company alone on an absolute basis, on a relative or comparative basis with such peer companies or index as the Administrator may select, in its sole discretion, or in such combination thereof as
may be determined by the Administrator, in its sole discretion. Performance Goals may be based on the performance of the Company as a whole, or on the performance of a specified business unit or subsidiary, or on the performance of a group of
subsidiaries, divisions or business units. Performance Goals may be measured on a cumulative basis, or in the alternative on an annual, quarterly or other periodic basis, or in the form of a matrix combining various Performance Goals and weighting
them in any manner that the Administrator may determine, in its sole discretion. In establishing the Performance Goals, the Administrator may establish different Performance Goals for individual Award Recipients or groups of Award Recipients.

 (d) Target Award. The Administrator shall establish for each Award Recipient a target
award (the “Target Award”). The Target Award may be a fixed cash amount or expressed as a percentage of annual base salary. The maximum payout under any Performance Award may not exceed four times the Target Award, subject to
adjustment as provided in Section 4(e). 
 (e) Adjustments to Performance Awards due to Certain
Circumstances. 
 (i) In order to avoid any undue windfall or hardship due to external causes, the Administrator may make a
determination as to whether a specific Performance Goal has been achieved without regard to the effect of any change in accounting standards, any change in the outstanding capital stock, any acquisition or disposition by the Company not planned for
at the time the Performance Goals were established or any other extraordinary, unusual or nonrecurring event or item that would otherwise impact the Company’s or a peer company’s reported financial performance. 

(ii) Notwithstanding the foregoing, for Performance Awards granted on or after May 13, 2009, in the event of a Change of Control,
the Administrator may make such adjustments to the Performance Goals as it deems appropriate, in its sole discretion, to take into account any changes to the Company or its operations (including to reflect the performance of any successor to the
Company) with respect to Performance Awards that continue in effect after the Change of Control. 
 (f) Establishment of
Performance Awards. Performance Awards shall be granted by the Administrator in writing not later than 90 days after the commencement of the period of service to which the Performance Goals relate. Following the establishment of the Performance
Goals, the Administrator shall advise each Award Recipient of the terms and conditions of his or her Performance Award, through the issuance of an “Award Letter” under the Plan, including the method or formula for determining the
payouts. 
 (g) Payments under Performance Awards. Upon the
conclusion of the Award Term, the Administrator shall review the extent to which the Performance Goals were achieved for the Award Term for each Award Recipient and may also consider subjective factors related to the performance of the Company
and/or the Award Recipient during the Award Term. The Administrator will make the final determination, in its sole discretion, of the extent to which the Performance Goals were achieved and, in its sole discretion, determine the payout amount under
the Performance Award (the “Payout Amount”) for each of the Award Recipients. The Administrator shall promptly notify each Award Recipient as to the determination of the Payout Amount. The Payout Amount
payable to Award Recipients under this Plan shall be paid solely in cash and shall be paid within 90 days of the end of the Award Term, but in no event later than the 15th day of the third month following the year in which the award vests.  

5. Termination of Employment. 
 (a) Death or Disability. If an Award Recipient’s employment with the Company terminates as a result of such Award Recipient’s death or disability, any outstanding Performance Awards shall
remain in force, and such Award Recipient (or his or her estate, representatives, heirs or beneficiaries, as applicable, in the case of death) shall be entitled to any payout that thereafter becomes due under such outstanding Performance Awards, at
the same time, and to the same extent, as though such Award Recipient had remained employed by the Company through the conclusion of the Award Term (notwithstanding any continued service condition). For purposes of the Plan, unless otherwise
provided in the Award Letter, “disability” shall mean a physical or mental impairment of sufficient severity that the Award Recipient is both eligible for and in receipt of benefits under the applicable long-term disability program
maintained by the Company. 

 (b) Retirement. If an Award Recipient’s employment with the Company terminates
by reason of such Award Recipient’s retirement prior to the end of an Award Term, but, unless otherwise provided in the Award Letter, after the conclusion of not less than 33% of such Award Term, then such Performance Award shall remain in
force, and such Award Recipient shall be entitled to any payout that thereafter becomes due under such Performance Award, at the same time, and to the same extent, as though such Award Recipient had remained employed by the Company throughout the
Award Term (notwithstanding any continued service condition). For purposes of the Plan, unless otherwise provided in the Award Letter, “retirement” shall only apply to an Award Recipient who is an employee of the Company, and shall mean
either (i) separation from service following the Award Recipient’s attainment of age 65 and the completion of at least 5 years of credited service, or (ii) separation from service following the Award Recipient’s attainment of age
55 and the completion of at least 10 years of credited service. 
 (c) Other Termination. Unless otherwise provided in
the Award Letter, in the event that an Award Recipient’s employment with the Company terminates other than by reason of death, disability or retirement as provided in Sections 5(a) and (b) above, then, unless the
Administrator, in its sole discretion and upon management’s request (which may be made in its sole discretion), determines otherwise, any and all outstanding Performance Awards in such Award Recipient’s name as to which the Award Term has
not yet been completed shall be deemed forfeited, shall automatically be canceled and shall have no further force or effect. 

(d) Change of Control. 
 (i) For Performance Awards granted before May 13, 2009, notwithstanding the provisions of Section 4 or this Section 5, and unless provided otherwise in the Award Letter, in
the event of a “Change of Control” of the Company, as defined below, prior to the end of an Award Term of any outstanding Performance Award, the Performance Goals applicable to such Performance Award shall be deemed to have been
satisfied as of the date of such Change of Control and yield a Payout Amount of 100% of the Target Award. The Award Recipient shall be entitled to the corresponding payment under such Performance Award as of the date of the Change of Control
(notwithstanding any continued service condition). 
 (ii) For Performance Awards granted on or after May 13, 2009,
notwithstanding the provisions of Section 4 or this Section 5, in the event of a Change of Control of the Company, any outstanding Performance Award shall vest, and be paid, if applicable, pursuant to the terms set forth in
the Award Letter. 
 (iii) For purposes of the following definition, the Company shall mean Radian Group Inc. For purposes of
the Plan, a “Change of Control” shall be deemed to have taken place if any of the following occurs: (i) any Person (except for an employee or his or her family, the Company or any employee benefit plan of the Company or of any
Affiliate, or any Person or entity organized, appointed or established by the Company for or pursuant to the terms of any such employee benefit plan), together with all Affiliates and Associates of such Person shall become the Beneficial Owner in
the aggregate of 40% or more of the shares of the Company then outstanding and entitled to vote for directors generally, (ii) any Person (except an employee and his or her family), together with all Affiliates and Associates of such Person,
purchases substantially all of the assets of the Company, (iii) during any 24-month period, individuals who at the beginning of such period constituted the Board cease for any reason to constitute a majority thereof, unless the election, or the
nomination for election by the Company’s stockholders, of at least 75% of the directors who were not directors at the beginning of such period was approved by a vote of at least 75% of the directors in office at the time of such election or
nomination who were directors at the beginning of such period, or (iv) there occurs a consummation of a merger or consolidation of the Company with another Person where the stockholders of the Company, immediately prior to the merger or
consolidation, will not beneficially own, immediately after the merger or consolidation, shares entitling such stockholders to more than 40% of all votes to which all stockholders of the surviving corporation or other entity would be entitled in the
election of directors. 
 For purposes of this definition, “Affiliate” and “Associate” shall
have the respective meanings ascribed to such terms in Rule 12b-2 under the Securities Exchange Act of 1934 (the “Exchange Act”); “Person” shall mean any individual, firm, corporation, partnership or other entity
(which, for the avoidance of doubt, does not include the United States government, any of its states, or any of their respective political subdivisions, departments, agencies or instrumentalities), as determined by the Administrator in its sole
discretion; and a Person shall be deemed the “Beneficial Owner” of any securities: 
 (i) that such Person or
any of such Person’s Affiliates or Associates, directly or indirectly, 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 (whether
or not in writing) 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 securities tendered pursuant to a
tender or exchange offer made by such Person or any of such Person’s Affiliates or Associates until such tendered securities are accepted for payment, purchase or exchange; 

 (ii) that 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 13d-3 under the Exchange Act), including without limitation, pursuant to any agreement, arrangement or understanding (whether
or not in writing); provided, however, that a Person shall not be deemed the “Beneficial Owner” of any security under this subsection (ii) as a result of an oral or written agreement, arrangement or understanding to vote such security
if such agreement, arrangement or understanding (A) arises solely from a revocable proxy given in response to a public proxy or consent solicitation made pursuant to, and in accordance with, the applicable provisions of the General Rules and
Regulations under the Exchange Act, and (B) is not then reportable by such Person on Schedule 13D under the Exchange Act (or any comparable successor report); or 
 (iii) to the extent that such Person or any of such Person’s Affiliates or Associates has any agreement, arrangement or understanding (whether or not in writing) with any other Person for the purpose
of acquiring, holding, voting (except pursuant to a revocable proxy described in the proviso to subsection (ii) above) or disposing of any voting securities of the Company, in which case such Person shall be the Beneficial Owner of all
securities that are Beneficially Owned, directly or indirectly, by such other Person (or any Affiliate or Associate thereof) within the meaning of subsection (i) or (ii) above; 

provided, however, that nothing in this definition of Beneficial Owner shall cause a Person engaged in business as an underwriter of
securities to be the “Beneficial Owner” of any securities acquired through such Person’s participation in good faith in a firm commitment underwriting until the expiration of 40 days after the date of such acquisition. 

Notwithstanding the foregoing, for Performance Awards granted on or after May 13, 2009, the Administrator, in its sole discretion,
may adjust the definition of Change of Control for a particular Performance Award as the Administrator deems appropriate in the Award Letter and may determine that Performance Awards will not be paid in full upon a Change of Control and may include
such additional conditions for payment of any outstanding Performance Awards as the Administrator deems appropriate in its sole discretion. 

6. Tax Withholding.  
 The Company shall deduct from any distributions under any Performance Award any federal, state, or local taxes required by law to be withheld with respect to such Award Recipient’s Performance Award.

 7. Governing Law. 
 The Plan, including any Award Letter, shall be construed, administered and governed in all respects under and by the applicable laws of the State of Delaware, excluding any conflicts or choice of law rule
or principle that might otherwise refer construction or interpretation to the substantive law of another jurisdiction. 
 In
addition, the Plan and any Award Letter shall be subject to any required approvals by any governmental or regulatory agencies. Without limiting the foregoing, notwithstanding anything in the Plan or any Award Letter to the contrary, the Plan and all
Performance Awards shall be subject to all applicable laws, regulations, restrictions or governmental guidance that becomes applicable in the event of the Company’s participation in the Troubled Asset Relief Program under the Emergency Economic
Stabilization Act of 2008 and the American Recovery and Reinvestment Act of 2009, or any similar program of the United States, any of its states, or any of their respective political subdivisions, departments, agencies or instrumentalities
(collectively, “TARP”), and the Administrator reserves the right to modify Performance Awards as necessary to conform to any restrictions imposed under TARP. As a condition of participating in the Plan, all Award Recipients agree to any
such modifications that may be imposed by the Administrator, and all Award Recipients agree to sign such waivers or acknowledgments as the Administrator may deem necessary or appropriate with respect to TARP restrictions applicable to the
Performance Awards. 
 8. Plan Amendment and Termination. 
 The Board or the Administrator may, in its sole discretion, amend, suspend or terminate the Plan at any time, with or without advance notice to Award Recipients. No amendment, modification or termination
of the Plan may adversely affect in a material manner any right of any Award Recipient with respect to any Performance Award theretofore granted without such Award Recipient’s written consent, except as provided in Section 7 or
Section 9. The Company reserves the unilateral right to change any rule under the Plan if it deems such a change is necessary to avoid the application of the Employee Retirement Income Security Act of 1974, as amended
(“ERISA”), to the Plan. 
 9. Section 409A of the Code. 

This Plan and all Performance Awards granted under this Plan are intended to comply with the requirements of Section 409A of the
Internal Revenue Code of 1986, as amended (the “Code”) or an exemption from Section 409A and shall in all respects be administered in accordance with Section 409A. Notwithstanding anything in this Plan or any Performance
Award to the contrary, distributions upon termination of employment may only be made upon a “separation from service” as determined under Section 409A. Each payment under this Plan shall be treated as a separate payment for purposes
of Section 409A. In no event shall an Award Recipient, directly or indirectly, designate the calendar year of payment. Notwithstanding anything in this Plan or any Performance Award to the contrary, if required by Section 409A, any amount
that is considered deferred compensation and that is required to be postponed pursuant to Section 409A shall be postponed for a period of six months after separation from service, as required by Section 409A. The accumulated postponed
amount shall be paid in a lump sum payment within ten days after the end of the six month period. If the Award Recipient dies during the postponement period prior to the payment of the postponed amount, the amounts withheld on account of
Section 409A shall be paid to the personal representative of the Award Recipient’s estate within 60 days after the date of his death. Notwithstanding any provision of the Plan to the contrary, in the event that the Administrator
determines that any amounts payable hereunder will be taxable to an Award Recipient under Section 409A and related Department of Treasury guidance, prior to payment to such Award Recipient of such amount, the Administrator may: (a) adopt
such amendments to the Plan, and any Award Letter, and appropriate policies and procedures, including amendments and policies with retroactive effect, that the Administrator determines necessary or appropriate to preserve the intended tax treatment
of the benefits provided by the Plan and Award Letter hereunder and/or (b) take such other actions as the Administrator determines necessary or appropriate to avoid or limit the imposition of an additional tax under Section 409A.

 10. General Provisions. 
 (a) No Right to Awards or Continued Employment. The Plan is not a contract between the Company and the Award Recipient. Neither the establishment of the Plan nor the provision for or payment of any
amounts hereunder nor any action of the Company or the Administrator in respect of the Plan or any Award Letter, including the establishment of a multi-year Award Term, shall be held or construed as giving the Award Recipient any right to be
retained by the Company. 
 (b) No Funding of Plan. The Company shall not be required to fund or otherwise segregate
assets, which may at any time be delivered to Award Recipients under the Plan. The Plan shall constitute an “unfunded” plan of the Company. The 

 
Company shall not, by any provisions of the Plan, be deemed to be a trustee of any property, and any rights of any Award Recipient or former Award Recipient shall be no greater than those of a
general unsecured creditor or stockholder of the Company, as the case may be. 
 (c) Notice to Company. Any notice
required or permitted to be given under the Plan to the Company shall be sufficient if in writing and delivered by registered or certified mail to the Company at its principal office, directed to the attention of the Administrator. Such notice shall
be deemed given as of the date of delivery or, if delivery is made by mail as of the date shown on the postmark, or the receipt for registration or certification. 
 (d) Notice to Award Recipient. Any notice required or permitted to be given under the Plan to the Award Recipient shall be sufficient if in writing and delivered by registered or certified mail to
the Award Recipient’s principal residence as reflected in the Company’s personnel records. Such notice shall be deemed given as of the date of delivery or, if delivery is made by mail as of the date shown on the postmark, or the receipt
for registration or certification. As an alternative, all information to be delivered to an Award Recipient regarding the Company, the Plan, and the Performance Awards granted hereunder may be delivered via the Company’s electronic delivery
system. 
 (e) Non-Exclusivity. The Plan does not limit the authority of the Company or the Administrator to grant cash
bonus awards, or authorize or award any other compensation to any person under any other plan or program, including, without limitation, the issuance of stock options or any other awards under the Company’s equity incentive plans. 

(f) Non-Assignable and Non-Transferable. The Award Recipient shall not have any voluntary or involuntary right to commute, sell,
assign, pledge, anticipate, mortgage, or otherwise encumber, transfer, hypothecate, or convey in advance of actual receipt the amounts, if any, payable hereunder or any part thereof, which are expressly declared to be unassignable and
non-transferable, except by will or by the laws of descent and distribution. No part of the amounts payable prior to actual payment shall be subject to seizure or sequestration for the payment of any debts, judgments, alimony, or separate
liabilities or maintenance owed by the Award Recipient or any other person, or be transferable by operation of law in the event of the Award Recipient’s or any other person’s bankruptcy or insolvency. 

(g) Severability. If any provision of the Plan is held unenforceable, the remainder of the Plan shall continue in full force and
effect and shall be applied as though the unenforceable provision were not contained in the Plan. 
 # # # 

As adopted by the Board of Directors of Radian Group Inc. on August 7, 2008. This Plan was amended and clarified by the Board of Directors of the
Company on May 13, 2009. The May 13, 2009 amendments shall apply to all Performance Awards except where explicitly specified otherwise herein. This Plan was further amended and restated as of April 5, 2011 and again as of May 10,
2011.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00189-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00189-of-00352.parquet"}]]