Stock Option Grant Agreement [Form] (16K)
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RADIAN GROUP INC.
FORM OF STOCK OPTION GRANT AGREEMENT
THIS STOCK OPTION GRANT, dated , is delivered by Radian Group Inc., a Delaware corporation (the Company), to , an officer or other key employee of the Company or one of its affiliates (the Grantee).
RECITALS
A. The Radian Group Inc. Equity Compensation Plan (the Plan) provides for the grant of stock options to non-employee directors of the Company and selected key employees of the Company and its affiliates, as such term is defined in the Plan, to purchase shares of Common Stock of the Company, par value $.001 per share (Shares), in accordance with the terms and provisions of the Plan.
B. The Stock Option and Compensation Committee (the Committee) appointed by the Board of Directors of the Company to administer the Plan has determined that it would be to the advantage and interest of the Company to make the grant provided for herein as an inducement for the Grantee to continue as an officer or other key employee of the Company or one of its affiliates and to promote the best interests of the Company, its affiliates and stockholders.
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C. Under the terms of this grant the Grantee must earn the right to purchase Shares from time to time hereunder by remaining as an officer or other key employee of the Company or one of its affiliates.
NOW, THEREFORE, the parties hereto, intending to be legally bound hereby, agree as follows:
1. Grant of Option.
Subject to the terms and conditions hereinafter set- forth, the Company, with the approval and at the direction of the Committee, hereby grants to the Grantee an option to purchase an aggregate number of shares at the option price as follows:
A Non-Statutory Option (NSO) of Shares at an option price of $ per Share. This NSO shall vest and become exercisable in installments, the Grantee having the right hereunder to purchase from the Company, on and after the following dates, the following number of Shares:
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