ASSUREDGUARANTY LTD. DESCRIPTIONOF EXECUTIVE OFFICER CASH COMPENSATION FOR 2009
Exhibit 10.15
ASSURED GUARANTY LTD.
DESCRIPTION OF EXECUTIVE OFFICER CASH COMPENSATION
FOR 2009
Set forth below are the 2009 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 |
|
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 2009 performance. In 2009, 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 2009, Mr. Frederico and Mr. Michener will receive Bermuda housing allowances, Bermuda housing tax gross-ups, FICA reimbursement, Bermuda car allowances and Bermuda family travel.
* From January 1, 2009 to July 31, 2009, Mr. Frederico received salary based on a rate of $750,000 per year. Effective August 1, 2009, Mr. Frederico’s annual salary rate increased to $900,000.
