Exhibit 10.32

 

ASSURED GUARANTY LTD.

 

DESCRIPTION OF EXECUTIVE OFFICER CASH COMPENSATION

 

FOR 2005

 

Set forth below are the 2005 annual salary and bonus of the Chief Executive
Officer and each of the four most highly compensated Executive Officers. The
salary of each Executive Officer listed below are unchanged for 2006.

 

Dominic J. Frederico

 

President and Chief Executive Officer, Assured Guaranty Ltd.

 

Salary

 

Bonus

 

$

700,000

 

$

2,000,000

 

 

Robert B. Mills

 

Chief Financial Officer, Assured Guaranty Ltd.

 

Salary

 

Bonus

 

$

500,000

 

$

775,000

 

 

Michael J. Schozer

 

President, Assured Guaranty Corp.

 

Salary

 

Bonus

 

$

375,000

 

$

725,000

 

 

James M. Michener

 

General Counsel, Assured Guaranty Ltd.

 

Salary

 

Bonus

 

$

375,000

 

$

600,000

 

 

Robert A. Bailenson

 

Chief Accounting Officer, Assured Guaranty Ltd.

 

Salary

 

Bonus

 

$

300,000

 

$

260,000

 

 

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Messrs. Frederico, Mills and Michener have employment agreements with the
Company and are entitled to certain perquisites, such as housing allowance,
family travel benefit, car allowance, reimbursement of U.S. social security and
Medicare taxes, financial and tax planning and club dues. Mr. Schozer is also a
party to an employment agreement with Assured Guaranty Corp. and is entitled to
certain perquisites, such as financial and tax planning and club dues.

 

The CEO and other Executive Officers are also participants in defined
contribution pension plans maintained by the Company and its subsidiaries.

 

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