Ambac Financial Group, Inc.Compensation Agreement • April 3rd, 2015 • Ambac Financial Group Inc • Surety insurance
This letter will confirm our agreement regarding your compensation as interim President and Chief Executive Officer of Ambac Financial Group, Inc. (“AFG”), effective as of January 1, 2015. In such role you shall have all of the duties, responsibilities and authority commensurate with such position.
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RESTRICTED STOCK UNIT AND STOCK OPTION AGREEMENTRestricted Stock Unit and Stock Option Agreement • April 3rd, 2015 • Ambac Financial Group Inc • Surety insurance • New York
Mr. Nader Tavakoli (the “Executive”) has been granted a Full Value Award under the Ambac Financial Group, Inc. Incentive Compensation Plan (the “Plan”) in the form of restricted stock units and an Award in the form of a non-qualified stock option (collectively, the “Awards”) as consideration for his services as interim president and chief executive officer. The Award shall be effective as of March 30, 2015 (the “Grant Date”). The Award shall be subject to the following terms and conditions (sometimes referred to as this “Agreement”).