ACE Limited 2007 Executive Officer Cash Compensation Description
This document outlines the 2007 annual base salaries for ACE Limited's Chief Executive Officer, Chief Financial Officer, and four other top executive officers. It also notes that these executives are eligible for annual bonuses, determined in early 2008, and may receive various personal benefits such as housing allowances, use of company aircraft, and retirement plan contributions. The base salaries for 2008 will be set in the first quarter of 2008.
Exhibit 10.32
ACE LIMITED
DESCRIPTION OF EXECUTIVE OFFICER CASH COMPENSATION
FOR 2007
Set forth below are the 2007 annual base salaries of the Chief Executive Officer, the Chief Financial Officer and each of the four other most highly compensated executive officers in 2007 who were executive officers as of December 31, 2007
Evan G. Greenberg, President and Chief Executive Officer
$1,200,000
Philip V. Bancroft, Chief Financial Officer
$670,000
Robert Cusumano, General Counsel and Secretary
$515,000
Brian E. Dowd, Chief Executive Officer Insurance-North American
$700,000
John Keogh, Chief Executive Officer ACE Overseas General
$625,000
Paul Medini, Chief Accounting Officer
$425,000
In addition to the above, these officers receive an annual bonus for 2007 that is determined in the first quarter of 2008 and perquisites and other personal benefits that may include housing allowances, personal use of the Company aircraft, relocation expenses, club memberships, private drivers, financial planning, car allowance or Company leased vehicle, home security, personal apartment costs and long service awards, tax gross ups and contributions to retirement plans. The annual base salaries for 2008 for these officers is determined in the first quarter of 2008.
