Assured Guaranty Ltd. 2012 Executive Officer Cash Compensation Description
This document outlines the 2012 annual salaries and compensation terms for executive officers of Assured Guaranty Ltd., including the President and CEO, CFO, General Counsel, and COO. In addition to their base salaries, these executives may be considered for cash bonuses and, except for the CEO, for long-term incentive grants based on 2012 performance. The CEO received a two-year equity grant in 2012 and is eligible for performance retention grants. All named executives will also receive standard benefits and retirement contributions.
Exhibit 10.4
ASSURED GUARANTY LTD.
DESCRIPTION OF EXECUTIVE OFFICER CASH COMPENSATION
FOR 2012
Set forth below are the 2012 annual salaries of the Executive Officers named in the compensation tables in Assured Guaranty’s 2012 proxy statement who are still employed by Assured Guaranty.
Dominic J. Frederico
President and Chief Executive Officer, Assured Guaranty Ltd.
| Salary |
|
| $ | 900,000.00 |
|
Robert A. Bailenson
Chief Financial Officer, Assured Guaranty Ltd.
| Salary |
|
| $ | 425,000.00 |
|
James M. Michener
General Counsel, Assured Guaranty Ltd.
| Salary |
|
| $ | 450,000.00 |
|
Robert B. Mills
Chief Operating Officer, Assured Guaranty Ltd.
| Salary |
|
| $ | 520,000.00 |
|
· In addition to salary, the named executive officers will be eligible to be considered to receive cash bonuses for 2012 performance.
· The named executive officers other than Mr. Frederico will be eligible to be considered to receive grants under Assured Guaranty’s long-term incentive plans for 2012 performance.
· In 2012, Mr. Frederico received a two-year grant of equity and, accordingly, will not be considered for additional grants of equity until 2014. However, Mr. Frederico will be eligible to be considered to receive grants under Assured Guaranty’s Performance Retention Plan for 2012 performance.
· In 2012, the named executive officers will receive other annual compensation and benefits, including employer contributions to retirement plans and perquisites provided under the Assured Guaranty Ltd. Perquisite Policy.
