Assurant 2005 Annual Report Download - page 30

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deferred amounts due Mr. Freedman under the long term incentive plan would be put into a trust for the benefit of Mr. Freedman during the
deferral period.
On August 1, 2000, we entered into a trust agreement with Wachovia Bank, N.A. for the benefit of Mr. Freedman. The trust was created to
carry out the provisions of the Retirement Agreement and to hold assets contributed by us sufficient to fund our obligation to Mr. Freedman
under the long term incentive plan. The trust constituted an unfunded arrangement, subject to the claims of our creditors in the event of
insolvency. We then deposited into the trust an amount equal to our remaining obligation to Mr. Freedman under the long term incentive plan.
On August 25, 2000, a portion of this amount was used, at the direction of Mr. Freedman, to purchase life insurance policies, of which
specified family members of Mr. Freedman are the beneficiaries. Premiums on those life insurance policies were payable over time, and
payments began on August 25, 2000. The final premium payment of $1,889,776 was paid out of the trust in August 2004. Total premiums paid
were $9,889,776.
Section 16(a) Beneficial Ownership Reporting Compliance
Under Section 16(a) of the Securities Exchange Act of 1934, our directors, executive officers, and any persons holding more than ten
percent of our Common Stock and other equity securities are required to report their initial ownership of and subsequent changes in ownership
of our Common Stock and other equity securities to the Securities and Exchange Commission (the “SEC”) and the New York Stock Exchange.
They are also required to send copies of these reports to us. Specific dates for filing these reports have been established by the SEC, and we are
required to report in this Proxy Statement any failure of our directors and executive officers to file by the relevant due date any of these reports
during 2004. To our knowledge, based solely on our review of the copies of the reports prepared or received by us, we believe that all such
filing requirements were satisfied except that Mr. Sondej filed a late Form 3 reporting his initial ownership of Assurant Common Stock and
equity securities, and Mr. Clayton, Mr. Pollock, Ms. Silvester and Mr. Haertel filed late Form 4’s with regard to a dividend reinvestment in
their Executive 401(k) plans.
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