Assured Guaranty Ltd. 2010 Executive Officer Cash Compensation Description
Assured Guaranty Ltd. outlines the 2010 annual salaries for its Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, General Counsel, and Chief Accounting Officer. In addition to their base salaries, these executive officers may receive cash bonuses based on 2010 performance and are eligible for various benefits, such as retirement plan contributions, financial planning, club fees, and executive health benefits. Certain executives also receive additional allowances related to their assignments in Bermuda.
Exhibit 10.24
ASSURED GUARANTY LTD.
DESCRIPTION OF EXECUTIVE OFFICER CASH COMPENSATION
FOR 2010
Set forth below are the 2010 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 |
| |
| $ | 900,000 |
|
Robert B. Mills
Chief Financial Officer, Assured Guaranty Ltd.
| Salary |
| |
| $ | 520,000 |
|
Séan McCarthy
Chief Operating Officer, Assured Guaranty Ltd.
| Salary |
| |
| $ | 500,000 |
|
James M. Michener
General Counsel, Assured Guaranty Ltd.
| Salary |
| |
| $ | 450,000 |
|
Robert A. Bailenson
Chief Accounting Officer, Assured Guaranty Ltd.
| Salary |
| |
| $ | 375,000 |
|
In addition to salary, the named executive officers will be eligible to be considered to receive cash bonuses for 2010 performance. In 2010, 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 2010, Mr. Frederico and Mr. Michener will receive Bermuda housing allowances, Bermuda housing tax gross-ups, FICA reimbursement, Bermuda car allowances and Bermuda family travel.
