X0202 4 2008-03-27 0 0000074260 OLD REPUBLIC INTERNATIONAL CORP ORI 0001366349 RAGER R SCOTT 307 NORTH MICHIGAN AVENUE SUITE 2300 CHICAGO IL 60601 0 1 0 0 SrVP-Administration & Planning Employee Stock Option 12.95 2008-03-27 4 A 0 37500 0 A 2008-12-31 2018-03-19 Common Stock 37500 37500 D These shares vest and become exercisable, effective December 31, 2008, at a rate of 10% the first year, 15% the second year, 20% the thrid year, 25% the fourth year and 30% the fifth year. However, if an optionee dies, becomes disabled, retires after attaining age 57 or a change in control of the company occurs, the options vest immediately to the extent of the higher of 10% of the award for each year the optionee has been an employee or the actual vested percentage of the award plus 50% of the remaining unvested amounts. R. Scott Rager 2008-03-31