Assured Guaranty Ltd. 2007 Executive Officer Cash Compensation Description
Assured Guaranty Ltd. outlines the 2007 annual salaries for its Chief Executive Officer, Chief Financial Officer, and three other top executive officers. In addition to their base salaries, these executives may receive cash bonuses based on 2007 performance and are eligible for various benefits, including retirement plan contributions, financial planning, club fees, spousal travel, and health benefits. Two executives, Mr. Frederico and Mr. Michener, will also receive specific Bermuda-related allowances and benefits. The document details compensation terms for the company's highest-paid executives for the year 2007.
Exhibit 10.32
ASSURED GUARANTY LTD.
DESCRIPTION OF EXECUTIVE OFFICER CASH COMPENSATION
FOR 2007
Set forth below are the 2007 annual salary of the Chief Executive Officer, the Chief Financial Officer and each of the three other most highly compensated Executive Officers.
| Dominic J. Frederico | ||||||
| President and Chief Executive Officer, Assured Guaranty Ltd. | ||||||
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| $750,000 |
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| Robert B. Mills | ||||||
| Chief Financial Officer, Assured Guaranty Ltd. | ||||||
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| Salary |
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| $520,000 |
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| Michael J. Schozer | ||||||
| President, Assured Guaranty Corp | ||||||
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| $400,000 |
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| James M. Michener | ||||||
| General Counsel, Assured Guaranty Ltd. | ||||||
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| $390,000 |
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| Robert A. Bailenson | ||||||
| Chief Accounting Officer, Assured Guaranty Ltd. | ||||||
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| $330,000 |
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In addition to salary, the named executive officers will be eligible to be considered to receive cash bonuses for 2007 performance. In 2007, the named executive officers will receive in 2007 perquisites and other annual compensation including, employer contributions to retirement plans, tax preparation and financial planning, club fees, business related spousal travel, and executive health benefits. In 2007, Mr. Frederico and Mr. Michener will receive Bermuda housing allowances, Bermuda housing tax gross ups, FICA paid by employer, Bermuda car allowances Bermuda family travel.
