EX-10.04 2 dex1004.htm DIRECTORS' COMPENSATION TABLE (EFFECTIVE AS OF FEBRUARY 1, 2011)

Exhibit 10.04

AMBAC FINANCIAL GROUP, INC.

2011 DIRECTORS’ COMPENSATION TABLE

(EFFECTIVE AS OF FEBRUARY 1, 2011)

TYPE OF FEE |  | AMOUNT |  |  | MANNER OF PAYMENT
Annual Fees/Awards |  |  |  |  |  |
• Annual fee for serving as a director of Ambac Financial Group, Inc. (Parent) and Ambac Assurance Corporation (Subsidiary) |  | $ | 90,000 |  |  | Payable monthly in arrears in cash
• Annual fee for chairing the Audit and Risk Assessment Committee of Ambac Financial Group, Inc. |  | $ | 20,000 |  |  | Payable monthly in arrears in cash
• Annual fee for chairing the Compensation Committee of Ambac Financial Group, Inc. |  | $ | 10,000 |  |  | Payable monthly in arrears in cash
• Annual fee for chairing the Governance Committee of Ambac Financial Group, Inc. |  | $ | 10,000 |  |  | Payable monthly in arrears in cash
• Annual fee for serving as Presiding Director of Ambac Financial Group, Inc. |  | $ | 25,000 |  |  | Payable monthly in arrears in cash
Non-Executive Chairman Retainer Fee |  |  |  |  |  |
• Annual fee for serving as Chairman of the Board of Ambac Financial Group and Ambac Assurance Corporation |  | $ | 150,000 |  |  | Payable monthly in arrears in cash
Meeting Fees |  |  |  |  |  |
• Annual or special meeting of Ambac Financial Group, Inc. stockholders |  | $ | 2,500 |  |  | Payable monthly in arrears in cash
• Ambac Financial Group, Inc. Board meeting |  | $ | 2,500 |  |  | Payable monthly in arrears in cash
• Ambac Assurance Corporation Board meeting |  | $ | 2,500 |  |  | Payable monthly in arrears in cash
• Standing or special committee meeting held in conjunction with a stockholder or board meeting |  | $ | 1,500 |  |  | Payable monthly in arrears in cash
• Standing or special committee meeting not held in conjunction with a stockholder or board meeting |  | $ | 1,500 |  |  | Payable monthly in arrears in cash
Travel and Related Expenses |  |  |  |  |  |
• Travel and related expenses incurred in attending a stockholder, board or committee meeting |  |  | 100% of expenses incurred |  |  | Payable in cash promptly upon submission of receipts to the Ambac Financial Group, Inc. and Ambac Assurance Corporation

OTHER BENEFITS |  | DESCRIPTION
• Health and welfare |  | Each non-employee director is permitted to enroll (without paying any premium) in the Ambac Assurance Corporation medical and dental plan and is eligible to receive a $50,000 term life insurance policy (without paying any premium)