0001104659-06-013292 Sample Contracts

INDEMNIFICATION AGREEMENT
Indemnification Agreement • March 2nd, 2006 • Assured Guaranty LTD • Surety insurance • New York

THIS AGREEMENT is entered into, effective as of December 21, 2005 by and between Assured Guaranty Ltd., a Bermuda company (the “Company”), and (“Indemnitee”).

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Non-Qualified Stock Option Agreement under Assured Guaranty Ltd. 2004 Long-Term Incentive Plan
Non-Qualified Stock Option Agreement • March 2nd, 2006 • Assured Guaranty LTD • Surety insurance

THIS AGREEMENT, entered into as of the Grant Date (as defined in paragraph 1), by and between the Participant and Assured Guaranty Ltd. (the “Company”):

Restricted Stock Agreement under Assured Guaranty Ltd. 2004 Long-Term Incentive Plan
Restricted Stock Agreement • March 2nd, 2006 • Assured Guaranty LTD • Surety insurance

THIS AGREEMENT, entered into as of the Grant Date (as defined in paragraph 1), by and between the Participant and Assured Guaranty Ltd. (the “Company”):

Restricted Stock Agreement under Assured Guaranty Ltd. 2004 Long-Term Incentive Plan
Restricted Stock Agreement • March 2nd, 2006 • Assured Guaranty LTD • Surety insurance

THIS AGREEMENT, entered into as of the Grant Date (as defined in paragraph 1), by and between the Participant and Assured Guaranty Ltd. (the “Company”):

Non-Qualified Stock Option Agreement under Assured Guaranty Ltd. 2004 Long-Term Incentive Plan
Non-Qualified Stock Option Agreement • March 2nd, 2006 • Assured Guaranty LTD • Surety insurance

THIS AGREEMENT, entered into as of the Grant Date (as defined in paragraph 1), by and between the Participant and Assured Guaranty Ltd. (the “Company”):

Restricted Stock Agreement for Outside Directors under Assured Guaranty Ltd. 2004 Long-Term Incentive Plan(1)
Restricted Stock Agreement • March 2nd, 2006 • Assured Guaranty LTD • Surety insurance

THIS AGREEMENT, entered into as of the Grant Date (as defined in paragraph 1), by and between the Director and Assured Guaranty Ltd. (the “Company”):

Restricted Stock Unit Agreement for Outside Directors under Assured Guaranty Ltd. 2004 Long-Term Incentive Plan(1)
Restricted Stock Unit Agreement • March 2nd, 2006 • Assured Guaranty LTD • Surety insurance

THIS AGREEMENT, entered into as of the Grant Date (as defined in paragraph 1), by and between the Director and Assured Guaranty Ltd. (the “Company”):

BY HAND December 12, 2005 Dear Pierre:
Separation Agreement • March 2nd, 2006 • Assured Guaranty LTD • Surety insurance

This will confirm our discussions about your resignation as President, Chief Operating Officer and director of Assured Guaranty Re Ltd., as director of Assured Guaranty Re Overseas Ltd. and as Executive Vice President - Reinsurance of Assured Guaranty Ltd., each a Bermuda Company (collectively referred to as the “Company”) on mutually agreeable terms as set forth below. You and the Company agree this Agreement represents the full and complete agreement concerning your separation from employment with the Company and any of its affiliated companies.

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