Exhibit 10.1
Amendment No. 2
to
The PMI Group, Inc. Retirement
Plan
(September 1, 2007
Restatement)
THE PMI GROUP, INC. (the “
Company ” ), having established The PMI Group, Inc.
Retirement Plan (the “Plan”) effective as of
April 1, 1995, having amended and restated the Plan in its
entirety most recently effective as of September 1, 2007, and
having amended the restated Plan effective January 1, 2008,
hereby again amends the restated Plan as follows:
1. New Appendices C-1 and C-2 are
added immediately after Appendix B thereof to read as set forth in
the attachment hereto.
2. This Amendment No. 2 to the
restated Plan shall be effective as of September 18,
2008.
IN WITNESS WHEREOF, the Company, by
its duly authorized officer, has executed this Amendment No. 2
to the restated Plan on the date indicated below.
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THE PMI GROUP,
INC.
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Dated:
October 27, 2008
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By:
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/s/ Charles F.
Broom
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Title:
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Senior Vice
President
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APPENDIX C-1
Voluntary Early Retirement Window
Program
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C.1
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Eligibility
for Voluntary Early Retirement Window Program
. Notwithstanding any contrary Plan
provision, for a limited period of time between September 22,
2008 and December 31, 2008 (the “Window Period”),
each Participant who meets the following requirements (a
“Window Program Participant”) shall receive the
benefits specified in Paragraph C.2 below:
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(a)
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He or she is at
least age fifty-two (52) with seven (7) or more years of
Vesting Service or will meet such age and service criteria by
December 31, 2008;
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(b)
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He or she is an
Active Participant in the Plan through the date of his or her
Window Retirement, as defined below, pursuant to this Paragraph
C.1;
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(c)
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He or she is in
any employment position other than the Chief Executive Officer of
the Plan Sponsor;
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(d)
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He or she files
a properly completed and executed Voluntary Early Retirement Window
Program election form with the Committee (or its delegat
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