0001273813-14-000042 Sample Contracts

Performance-Based Restricted Stock Unit Agreement under Assured Guaranty Ltd. 2004 Long-Term Incentive Plan
Performance-Based Restricted Stock Unit Agreement • August 8th, 2014 • Assured Guaranty LTD • Surety insurance

THIS AGREEMENT is effective as of the Grant Date (as defined in Section 1), and is by and between the Participant and Assured Guaranty Ltd. (the "Company").

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Restricted Stock Agreement for Outside Directors under Assured Guaranty Ltd. 2004 Long-Term Incentive Plan
Restricted Stock Agreement • August 8th, 2014 • 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"):

Executive Restricted Stock Unit Agreement under Assured Guaranty Ltd. 2004 Long-Term Incentive Plan
Executive Restricted Stock Unit Agreement • August 8th, 2014 • Assured Guaranty LTD • Surety insurance

THIS AGREEMENT is effective as of the Grant Date (as defined in Section 1), and is by and between the Participant and Assured Guaranty Ltd. (the "Company").

SECOND AMENDED AND RESTATED GUARANTY
Guaranty • August 8th, 2014 • Assured Guaranty LTD • Surety insurance • New York

THIS SECOND AMENDED AND RESTATED GUARANTY (this “Guaranty”), effective as of May 1, 2014, which amends and restates the Amended and Restated Guaranty between the parties hereto effective as of September 10, 2004, is executed and delivered by Assured Guaranty Re Ltd. (formerly known as Assured Guaranty Re International Ltd. and, prior to such former name, ACE Capital Re International Ltd.), an insurance company registered and licensed under the laws of the Islands of Bermuda (“Parent”), for the benefit of Assured Guaranty Re Overseas Ltd. (formerly known as ACE Capital Re Bermuda Ltd.), an insurance company registered and licensed under the laws of the Islands of Bermuda (“Subsidiary”).

FIRST AMENDMENT TO
Strip Coverage Liquidity and Security Agreement • August 8th, 2014 • Assured Guaranty LTD • Surety insurance

This FIRST AMENDMENT TO AMENDED AND RESTATED STRIP COVERAGE LIQUIDITY AND SECURITY AGREEMENT (this “Amendment”) dated as of June 30, 2014 (the “Amendment Effective Date”), is entered into between ASSURED GUARANTY MUNICIPAL CORP. (f/k/a Financial Security Assurance Inc.), a New York corporation (“FSA” or the “Borrower”), and DEXIA CRÉDIT LOCAL S.A., a French share company licensed as a bank under French law, acting through its New York branch (“DCL” or the “Lender”).

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