This invention relates to urethane compositions comprising: (A) 100 weight parts of at least one compound containing at least one isocyanate group; (B) 0.3-300 weight parts of a carbinol-functional silicone resin; (C) up to 250 weight parts of an organic polyol; and (D) up to 10 weight parts of a cure rate modifier. The urethane compositions of this invention are useful as a stand-alone coating or as ingredients in protective coatings, paint formulations, and powder coatings. The urethane compositions of this invention can also be formulated with a blowing agent and cell stabilizer to produce thermally stable foam formulations.