-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, H+vtejSBShukwASUjxydztoQ9Hc8bFRBWnawfa49MRXlMvM/yiod9hkQhTEzu+co ElmVboEP++0rdhIeAnOGVw== 0001104659-05-060228.txt : 20051212 0001104659-05-060228.hdr.sgml : 20051212 20051212154207 ACCESSION NUMBER: 0001104659-05-060228 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20051209 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Termination of a Material Definitive Agreement ITEM INFORMATION: Other Events FILED AS OF DATE: 20051212 DATE AS OF CHANGE: 20051212 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ASSURED GUARANTY LTD CENTRAL INDEX KEY: 0001273813 STANDARD INDUSTRIAL CLASSIFICATION: SURETY INSURANCE [6351] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32141 FILM NUMBER: 051258124 MAIL ADDRESS: STREET 1: 30 WOOD BOURNE AVE CITY: HAMILTON BERMUDA STATE: D0 ZIP: 0000 FORMER COMPANY: FORMER CONFORMED NAME: AGR LTD DATE OF NAME CHANGE: 20040122 FORMER COMPANY: FORMER CONFORMED NAME: AGC HOLDINGS LTD DATE OF NAME CHANGE: 20031218 8-K 1 a05-21603_18k.htm CURRENT REPORT OF MATERIAL EVENTS OR CORPORATE CHANGES

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

Current Report

 

Pursuant To Section 13 or 15 (d) of the
Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported) – December 9, 2005

 

 

Assured Guaranty Ltd.

(Exact name of registrant as specified in its charter)

 

Bermuda

 

001-32141

 

98-0429991

(State or other jurisdiction)

 

(Commission File Number)

 

(I.R.S. Employer of Incorporation
Identification No.)

 

 

 

 

 

 

30 Woodbourne Avenue
Hamilton HM 08 Bermuda

(Address of principal executive offices)

 

Registrant’s telephone number, including area code: (441) 296-4004

 

Not applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 


 

Item 1.01. Entry into a Material Definitive Agreement.

 

On December 12, 2005, Assured  Guaranty Ltd. entered into a separation agreement with Pierre Samson, one of the Company’s executive officers, pursuant to which Mr. Samson will resign his positions with the Company effective December 31, 2005.  In consideration for the termination of Mr. Samson’s employment agreement, dated April 28, 2004, Mr. Samson will receive a total of $700,000 payable in 24 monthly installments, subject to reduction under certain circumstances.  In addition, the Assured Guaranty Ltd. stock options and restricted stock granted to Mr. Samson in April 2004 and February 2005 will continue to vest through April 30, 2006.  Any stock option or restricted stock not vested on April 30, 2006 will be forfeited.  Any stock options vested prior to April 30, 2006 must be exercised prior to the close of business on December 31, 2006.  At that time, all stock options will be forfeited.  Mr. Samson will also be paid a $200,000 bonus in respect of 2005.

 

Item 1.02. Termination of a Material Definitive Agreement.

 

See Item 1.01 above which is hereby incorporated herein by reference.

 

Item 8.01. Other Events.

 

On December 9, 2005 Assured Guaranty Ltd. announced the appointment of David Penchoff as President and Chief Operating Officer of Assured Guaranty Re Ltd. (AG Re), effective immediately. Mr. Penchoff will report to Dominic Frederico, President and Chief Executive Officer of Assured Guaranty Ltd. and will be responsible for AG Re’s underwriting and related administrative functions. Mr. Penchoff’s appointment is subject to Bermuda immigration approval.

 

Mr. Penchoff succeeds Pierre Samson, who will be leaving the company effective December 31, 2005.

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

ASSURED GUARANTY LTD.

 

 

 

 

 

By:

 

 

 

/s/ James M. Michener

 

 

 

James M. Michener

 

 

General Counsel and Secretary

 

 

 

 

 

 

DATE:

December 12, 2005

 

 

 

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