Exhibit 10.2

ASSURED GUARANTY LTD.

DESCRIPTION OF EXECUTIVE OFFICER CASH COMPENSATION

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.  On August 2, 2006 the
Company agreed to reimburse, on a gross up basis, Mr. Frederico and Mr. Michener
for increased U.S. income taxes related to their Bermuda housing allowances. 
The higher taxes are a result of recent changes in the taxation of U.S.
expatriates.  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 tax qualified and
non-qualified defined contribution pension plans maintained by the Company and
its subsidiaries.

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