EXHIBIT 10.11
                                                                   -------------

                             EXECUTIVE BONUS PLAN OF
                           MGIC INVESTMENT CORPORATION
                                 (the "Company")


The  Executive  Bonus  Plan of the  Company  in  effect  for 2000  (which is not
contained  in a formal  plan  document),  applies  to  certain  officers  of the
Company,  including the executive officers of the Company identified in the Form
10-K for the year ended  December 31, 1999.  Under the Executive  Bonus Plan, if
the  Company  achieves  a minimum  level of net income  for 2000,  an  executive
officer will be eligible for a bonus,  depending  upon the  executive  officer's
individual  performance,  within  various ranges of up to 200% of such executive
officer's  base  salary,  depending  on the range  applicable  to the  executive
officer.