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
