Summary of Annual Compensation
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EX-10.40 2 ago-12312020x10kex1040.htm EX-10.40 Document
Exhibit 10.40
ASSURED GUARANTY LTD.
DESCRIPTION OF 2021 EXECUTIVE OFFICER CASH COMPENSATION
Set forth below are the 2021 annual salaries of the Executive Officers to be named in the compensation tables in Assured Guaranty’s 2021 proxy statement, which will be filed with the SEC not later than 120 days after the close of the fiscal year pursuant to regulation 14A, and who serve as Executive Officers as of the date of this filing.
| Executive Officer | Salary | ||||
Dominic J. Frederico President and Chief Executive Officer | $1,250,000 | ||||
Robert A. Bailenson Chief Financial Officer | $800,000 | ||||
Ling Chow General Counsel and Secretary | $600,000 | ||||
Russell B. Brewer II Chief Surveillance Officer | $550,000 | ||||
David Buzen* Chief Investment Officer and Head of Asset Management | $800,000 | ||||
The named executive officers will also be eligible for the following:
| • | To be considered to receive equity and non-equity incentive compensation for 2020 performance. | ||||
| • | To receive other annual compensation and benefits, including employer contributions to retirement plans. | ||||
* Mr. Buzen's salary was raised from $500,000 to $800,000 per annum in August 2020 when he became Chief Investment Officer and Head of Asset Management. | ||
