0000874501-22-000101 Sample Contracts

AMBAC FINANCIAL GROUP, INC. RESTRICTED STOCK UNIT AGREEMENT FOR LONG-TERM INCENTIVE COMPENSATION AWARD
Restricted Stock Unit Agreement • May 10th, 2022 • Ambac Financial Group Inc • Surety insurance • New York

Effective as of February 28, 2022 (the “Grant Date”), [[FIRSTNAME]] [[LASTNAME]] (the “Participant”) has been granted a Full Value Award under the Ambac Financial Group, Inc. 2020 Incentive Compensation Plan (the “Incentive Plan”) in the form of restricted stock units. In addition to the terms and conditions of the Incentive Plan, the Award shall be subject to the following terms and conditions (sometimes referred to as this “Agreement”).

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AMBAC FINANCIAL GROUP, INC. PERFORMANCE STOCK UNIT AGREEMENT FOR LONG-TERM INCENTIVE COMPENSATION AWARD (Employees with Employment Agreements)
Performance Stock Unit Agreement • May 10th, 2022 • Ambac Financial Group Inc • Surety insurance • New York

Effective as of February 28, 2022 (the “Grant Date”), [[FIRSTNAME]] [[LASTNAME]] (the “Participant”) has been granted an Award under the Ambac Financial Group, Inc. 2020 Incentive Compensation Plan (the “Incentive Plan”). This Agreement evidences the Award, which shall consist of a Full Value Award in the form of performance stock units (“Performance Stock Units”). In addition to the terms and conditions of the Incentive Plan and the Award shall be subject to the following terms and conditions (sometimes referred to as this “Agreement”).

AMBAC FINANCIAL GROUP, INC. RESTRICTED STOCK UNIT AGREEMENT FOR LONG-TERM INCENTIVE COMPENSATION AWARD
Restricted Stock Unit Agreement • May 10th, 2022 • Ambac Financial Group Inc • Surety insurance • New York

Effective as of February 28, 2022 (the “Grant Date”), [[FIRSTNAME]] [[LASTNAME]] (the “Participant”) has been granted a Full Value Award under the Ambac Financial Group, Inc. 2020 Incentive Compensation Plan (the “Incentive Plan”) in the form of restricted stock units. In addition to the terms and conditions of the Incentive Plan, the Award shall be subject to the following terms and conditions (sometimes referred to as this “Agreement”).

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