0000950144-06-011886 Sample Contracts

EXHIBIT A TRIAD GUARANTY INC. EXECUTIVE/KEY EMPLOYEE PHANTOM STOCK AWARD AGREEMENT
Phantom Stock Award Agreement • December 28th, 2006 • Triad Guaranty Inc • Surety insurance • Delaware

This Phantom Stock Agreement (the “Agreement”), dated December 26, 2006 is entered into between Triad Guaranty Inc., a Delaware corporation (the “Company”), and Mark K. Tonnesen (the “Participant”).

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AMENDMENT to LETTER AGREEMENT (“Agreement”) between MARK K. TONNESEN and TRIAD GUARANTY INC. (“Company”)
Letter Agreement • December 28th, 2006 • Triad Guaranty Inc • Surety insurance

This Amendment to Agreement (this “Amendment”) is made and entered into as of December 26, 2006 by and between Triad Guaranty Inc., a Delaware corporation (“Company”), and Mark K. Tonnesen (“Employee”).

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