EXHIBIT 4.4
THE PMI GROUP, INC.
Nonqualified Stock Option Agreement
The PMI Group, Inc. (the "Company") hereby grants you, [NAME] (the "Employee"),
a stock option under the Company's Equity Incentive Plan (the "Plan"), to
purchase shares of common stock of the Company ("Stock"). The date of this
Agreement is [MONTH, DAY, YEAR]. The latest date this option will expire is
[MONTH, DAY, YEAR (10 yrs. after grant)] (the "Expiration Date"). Subject to
the provisions of the Plan, the principal features of this option are as
follows:
MAXIMUM NUMBER OF SHARES
PURCHASABLE WITH THIS OPTION: PRICE PER SHARE: $
---------------------------- --------- --------------- ---------
SCHEDULED VESTING DATES: NUMBER OF SHARES
----------------------- ----------------
[month, day, year]
------
[month, day, year]
------
[month, day, year]
------
EVENT TRIGGERING MAXIMUM TIME TO EXERCISE
Option Termination AFTER TRIGGERING EVENT*
------------------ ----------------------
Termination of Employment (except as shown below) 3 months
Termination of Employment due to Disability 2 years
Termination of Employment due to Retirement
(age 65 or over) 5 years
Termination of Employment due to Death 2 years
IMPORTANT
---------
IT IS YOUR RESPONSIBILITY TO EXERCISE THIS OPTION BEFORE IT EXPIRES.
*However, in no event may this option be exercised after the Expiration
Date (see above).
Your signature below indicates your agreement and understanding that this option
is subject to all of the terms and conditions contained in the Plan.
THE PMI GROUP, INC. EMPLOYEE
--------------------------------- ---------------------------------------
Signature/Title [NAME]
Date: Date:
--------------------------- ---------------------------------
(Please return to ▇▇▇▇▇▇▇ ▇▇▇▇▇, Human Resources Department,
by [month, day, year])
