Assured Guaranty Ltd. 2008 Executive Officer Cash Compensation Description
Assured Guaranty Ltd. outlines the 2008 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 2008 performance and are eligible for various benefits, including retirement plan contributions, tax and financial planning services, club fees, spousal travel, and executive health benefits. Two executives, Mr. Frederico and Mr. Michener, will also receive specific Bermuda-related allowances and reimbursements.
Exhibit 10.32
ASSURED GUARANTY LTD.
DESCRIPTION OF EXECUTIVE OFFICER CASH COMPENSATION
FOR 2008
Set forth below are the 2008 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.
| Salary |
| |
| $ | 750,000 |
|
Robert B. Mills
Chief Financial Officer, Assured Guaranty Ltd.
| Salary |
| |
| $ | 520,000 |
|
Michael J. Schozer
President, Assured Guaranty Corp.
| Salary |
| |
| $ | 400,000 |
|
James M. Michener
General Counsel, Assured Guaranty Ltd.
| Salary |
| |
| $ | 390,000 |
|
Robert A. Bailenson
Chief Accounting Officer, Assured Guaranty Ltd.
| Salary |
| |
| $ | 350,000 |
|
In addition to salary, the named executive officers will be eligible to be considered to receive cash bonuses for 2008 performance. In 2008, the named executive officers will receive perquisites and other annual compensation including, employer contributions to retirement plans, tax preparation services, financial planning services, club fees, business related spousal travel, and executive health benefits. In 2008, Mr. Frederico and Mr. Michener will receive Bermuda housing allowances, Bermuda housing tax gross-ups, FICA reimbursement , Bermuda car allowances and Bermuda family travel.
