Ambac Financial (AMBC) 10-K2010 FY Annual report

Filed: 16 Mar 11, 12:00am

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Removed: abroad, alliance, American, announced, appointment, approximate, arrive, attachment, attestation, attractive, automobile, bring, broader, bundled, buy, capitalization, card, cautioned, Century, choose, Citibank, client, committed, compete, competition, conclusive, consummate, deposit, depressed, diminished, disadvantage, display, diverse, diversification, diversify, diverted, dotted, embody, energy, entering, equivalent, essentially, exemption, expectation, explanation, film, FIN, Fitch, flat, forecasted, foreclose, fulfill, governing, guaranteeing, hard, interpretation, intrinsic, letter, leverage, lieu, liquidator, marginal, mid, NCFE, necessitate, notable, paper, pattern, preference, prepaid, prohibited, pronounced, publicly, rapidly, reclassifying, redeemable, reinsure, repricing, reputation, reside, resource, rounding, selecting, selling, semiannual, shorten, simulation, soft, Sompo, SPE, speak, squared, statute, statutorily, stipulated, strike, study, suboptimal, subprime, suitability, supplement, supplementary, synthetic, taxation, Tokyo, traditional, transferor, true, watch, widen, widest, worldwide

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Exhibit 10.04

AMBAC FINANCIAL GROUP, INC.

2011 DIRECTORS’ COMPENSATION TABLE

(EFFECTIVEASOF FEBRUARY 1, 2011)


TYPE OF FEE	AMOUNT		MANNEROF 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)

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