50 of the Top 250 law firms use our Products every day
Exhibit 10.55
[Triad Guaranty Inc. Letterhead]
July 17, 2008
CONFIDENTIAL
Mr. William T. Ratliff, III
3944 Forest Glen Drive
Birmingham, AL 35213
Re:
Service as Interim President and Chief Executive Officer
Dear
Will:
The purpose of this letter is to
confirm your understanding with Triad Guaranty Inc. (the
“Company”) regarding your election as President and
Chief Executive Officer of the Company on an interim basis. Our
agreement is as follows:
| |
1. |
|
You will be elected by the Board of Directors of the Company as
President and Chief Executive Officer effective as of the close of
business on July 18, 2008 in conjunction with the resignation
of Mark K. Tonnesen from those positions at that time. In addition,
you will be elected as an officer and a member of the Boards of
Directors of the appropriate subsidiaries of the Company in
appropriate positions on a contemporaneous basis as
Mr. Tonnesen resigns from such positions on or before August
15, 2008. In your capacity as President and Chief Executive
Officer, you will report directly to the Board of Directors. You
will also continue to serve the Company as Chairman of the
Board. |
| |
| |
2. |
|
It is understood that your election to the position of
President and Chief Executive Officer will be on an interim basis,
with an estimated duration of approxi |
|
