ACE LIMITED DESCRIPTION OF EXECUTIVE OFFICER CASH COMPENSATION
Exhibit 10.20
ACE LIMITED
DESCRIPTION OF EXECUTIVE OFFICER CASH COMPENSATION
FOR 2005 AND 2006
Set forth below are the base salaries of the Chief Executive Officer and each of the four most highly compensated executive officers in 2005 and their annual base salary effective January 1, 2006, together with cash bonus amounts with respect to 2005 compensation.
Evan Greenberg, President and Chief Executive Officer
| Base | Bonus | |||||
| 2005 | $ | 1,000,000 | $ | 2,600,000 | ||
| 2006 | $ | 1,000,000 | ||||
Brian Duperreault, Chairman
| Base | Bonus | |||||
| 2005 | $ | 600,000 | $ | 1,300,000 | ||
| 2006 | $ | 600,000 | ||||
Philip Bancroft, Chief Financial Officer
| Base | Bonus | |||||
| 2005 | $ | 650,000 | $ | 600,000 | ||
| 2006 | $ | 670,000 | ||||
Gary Schmazlriedt, Chairman and Chief Executive Officer,
ACE Overseas General
| Base | Bonus | |||||
| 2005 | $ | 650,000 | $ | 600,000 | ||
| 2006 | $ | 650,000 | ||||
Brian Dowd, Chairman and Chief Executive Officer,
ACE USA
| Base | Bonus | |||||
| 2005 | $ | 575,000 | $ | 600,000 | ||
| 2006 | $ | 625,000 | ||||
In addition to the above, these officers receive perquisites that may include commuting and living expenses, personal travel on the corporate aircraft, club memberships, financial planning and tax preparation services, tax gross-up repayment, home security systems and reimbursement of certain medical expenses not covered by primary insurance.
