2.0.0.10falseEMPLOYEE BENEFIT PLANS11101 - Disclosure - EMPLOYEE BENEFIT PLANStruefalsefalsefalse1usd$falsefalseUnit1Standardhttp://www.xbrl.org/2003/iso4217USDiso42170Unit12Standardhttp://www.xbrl.org/2003/instancesharesxbrli0Unit13Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli053us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlockus-gaaptruenadurationstringNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabelfalse1falsefalsefalsefalse00<div> <div>
<div
style="font-family: 'Times New Roman',Times,serif;">
<div
style="margin-top: 12pt; font-size: 10pt;" align="left"><b>11. EMPLOYEE BENEFIT PLANS</b></div>
<div
style="margin-top: 6pt; font-size: 10pt;" align="left"><b><i>a) Employee option plan</i></b></div>
<div
style="margin-top: 6pt; font-size: 10pt;" align="left"> In 2001, the Company implemented the Allied World Assurance Company Holdings, Ltd Second Amended and Restated 2001 Employee Stock Option Plan (the "Plan"). Under the Plan, up to 4,000,000 common shares of Holdings may be issued. Holdings has filed a registration statement on Form S-8 under the Securities Act of 1933, as amended, to register common shares issued or reserved for issuance under the Plan. These options are exercisable in certain limited conditions, expire after 10 years, and generally vest pro-rata over four years from the date of grant. The exercise price of options issued are determined by the compensation committee of the board of directors but shall not be less than 100% of the fair market value of the common shares of Holdings on the date the option award is granted.</div></div>
<div
style="font-family: 'Times New Roman',Times,serif;">
<div>
<table
style="font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr valign="bottom">
<td width="76%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td></tr>
<tr
style="font-size: 8pt;" valign="bottom">
<td> </td>
<td> </td>
<td
style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="7"><b>Year Ended March 31, 2010</b></td></tr>
<tr
style="font-size: 8pt;" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3"><b>Weighted Average</b></td></tr>
<tr
style="font-size: 8pt;" valign="bottom">
<td> </td>
<td> </td>
<td
style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="3"><b>Options</b></td>
<td> </td>
<td
style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="3"><b>Exercise Price</b></td></tr>
<tr
style="background: #cceeff;" valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Outstanding at beginning of period</div></td>
<td> </td>
<td> </td>
<td align="right">1,314,907</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">35.54</td>
<td> </td></tr>
<tr valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Granted</div></td>
<td> </td>
<td> </td>
<td align="right">311,610</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">46.05</td>
<td> </td></tr>
<tr
style="background: #cceeff;" valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Exercised</div></td>
<td> </td>
<td nowrap="nowrap" align="right"> </td>
<td align="right">(97,048</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right">28.18</td>
<td> </td></tr>
<tr valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Forfeited</div></td>
<td> </td>
<td nowrap="nowrap" align="right"> </td>
<td align="right">(5,251</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right">41.54</td>
<td> </td></tr>
<tr
style="background: #cceeff;" valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Expired</div></td>
<td> </td>
<td nowrap="nowrap" align="right"> </td>
<td align="right">(5,062</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right">45.72</td>
<td> </td></tr>
<tr
style="font-size: 1px;">
<td>
<div
style="margin-left: 15px; text-indent: -15px;"> </div></td>
<td> </td>
<td> </td>
<td
style="border-top: #000000 1px solid;" align="right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Outstanding at end of period</div></td>
<td> </td>
<td> </td>
<td align="right">1,519,156</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">38.11</td>
<td> </td></tr>
<tr
style="font-size: 1px;">
<td>
<div
style="margin-left: 15px; text-indent: -15px;"> </div></td>
<td> </td>
<td> </td>
<td
style="border-top: #000000 3px double;" align="right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr></table></div>
<div
style="margin-top: 6pt; font-size: 10pt;" align="left"> Assumptions used in the option-pricing model for the options granted during the three months ended March 31, 2010 are as follows:</div>
<div>
<table
style="font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr valign="bottom">
<td width="88%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td></tr>
<tr
style="font-size: 8pt;" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>Options granted during</b></td>
<td> </td></tr>
<tr
style="font-size: 8pt;" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>the Three Months ended</b></td>
<td> </td></tr>
<tr
style="font-size: 8pt;" valign="bottom">
<td> </td>
<td> </td>
<td
style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>March 31, 2010</b></td>
<td
style="border-bottom: #000000 1px solid;"> </td></tr>
<tr
style="background: #cceeff;" valign="top">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Expected term of option</div></td>
<td> </td>
<td> </td>
<td align="right">5.47</td>
<td nowrap="nowrap">years</td></tr>
<tr valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Weighted average risk-free interest rate</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">2.65</td>
<td nowrap="nowrap">%</td></tr>
<tr
style="background: #cceeff;" valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Weighted average expected volatility</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">42.35</td>
<td nowrap="nowrap">%</td></tr>
<tr valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Dividend yield</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">1.25</td>
<td nowrap="nowrap">%</td></tr>
<tr
style="background: #cceeff;" valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Weighted average fair value on grant date</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">17.34</td>
<td> </td></tr>
<tr
style="font-size: 1px;">
<td>
<div
style="margin-left: 15px; text-indent: -15px;"> </div></td>
<td> </td>
<td
style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="3"> </td></tr></table></div>
<div
style="margin-top: 6pt; font-size: 10pt;" align="left"> The Company has assumed a weighted average annual forfeiture rate of 6.37% in determining the compensation expense over the service period. </div>
<div
style="margin-top: 6pt; font-size: 10pt;" align="left"> Compensation expense of $792 and $625 relating to the options has been included in "general and administrative expenses" in the Company's consolidated income statements for the three months ended March 31, 2010 and 2009, respectively. As of March 31, 2010 and December 31, 2009, the Company has recorded in "additional paid-in capital" on the consolidated balance sheets an amount of $32,259 and $28,699, respectively, in connection with all options granted. </div>
<div
style="margin-top: 12pt; font-size: 10pt;" align="left"><b><i>b) Stock incentive plan</i></b></div>
<div
style="margin-top: 6pt; font-size: 10pt;" align="left"> In 2004, the Company implemented the Allied World Assurance Company Holdings, Ltd Second Amended and Restated 2004 Stock Incentive Plan (the "Stock Incentive Plan"). The Stock Incentive Plan provides for grants of restricted stock, restricted stock units ("RSUs"), dividend equivalent rights and other equity-based awards. A total of 2,000,000 common shares may be issued under the Stock Incentive Plan. To date, only RSUs have been granted. These RSUs generally vest in the fourth or fifth year from the original grant date, or pro-rata over four years from the date of the grant.</div>
<div>
<table
style="font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr valign="bottom">
<td width="76%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td></tr>
<tr
style="font-size: 8pt;" valign="bottom">
<td> </td>
<td> </td>
<td
style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="7"><b>Three Months Ended March 31, 2010</b></td></tr>
<tr
style="font-size: 8pt;" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3"><b>Weighted Average</b></td></tr>
<tr
style="font-size: 8pt;" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3"><b>Grant Date Fair</b></td></tr>
<tr
style="font-size: 8pt;" valign="bottom">
<td> </td>
<td> </td>
<td
style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="3"><b>RSUs</b></td>
<td> </td>
<td
style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="3"><b>Value</b></td></tr>
<tr
style="background: #cceeff;" valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Outstanding RSUs at beginning of period</div></td>
<td> </td>
<td> </td>
<td align="right">915,432</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">36.51</td>
<td> </td></tr>
<tr valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">RSUs granted</div></td>
<td> </td>
<td> </td>
<td align="right">41,197</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">46.05</td>
<td> </td></tr>
<tr
style="background: #cceeff;" valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Performance based RSUs granted</div></td>
<td> </td>
<td> </td>
<td align="right">279,900</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">46.05</td>
<td> </td></tr>
<tr valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">RSUs fully vested</div></td>
<td> </td>
<td nowrap="nowrap" align="right"> </td>
<td align="right">(141,764</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right">41.00</td>
<td> </td></tr>
<tr
style="background: #cceeff;" valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">RSUs forfeited</div></td>
<td> </td>
<td nowrap="nowrap" align="right"> </td>
<td align="right">(2,038</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right">37.59</td>
<td> </td></tr>
<tr
style="font-size: 1px;">
<td>
<div
style="margin-left: 15px; text-indent: -15px;"> </div></td>
<td> </td>
<td> </td>
<td
style="border-top: #000000 1px solid;" align="right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Outstanding RSUs at end of period</div></td>
<td> </td>
<td> </td>
<td align="right">1,092,727</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">38.73</td>
<td> </td></tr>
<tr
style="font-size: 1px;">
<td>
<div
style="margin-left: 15px; text-indent: -15px;"> </div></td>
<td> </td>
<td> </td>
<td
style="border-top: #000000 3px double;" align="right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr></table></div></div>
<div
style="font-family: 'Times New Roman',Times,serif;">
<div
style="margin-top: 6pt; font-size: 10pt;" align="left"> During 2010, the Company granted performance based RSUs in lieu of utilizing the LTIP (as defined in note 11(c)). The performance based RSUs are structured in exactly the same form as shares issued under the LTIP in terms of vesting restrictions and achievement of established performance criteria. For the performance based RSUs granted in 2010, the Company anticipates that the performance goals are likely to be achieved. Based on the performance goals, the performance based RSUs granted in 2010 are expensed at 100% of the fair market value of Holding's common share on the date of grant. The expense is recognized over the performance period.</div>
<div
style="margin-top: 6pt; font-size: 10pt;" align="left"> Compensation expense of $3,714 and $2,351 relating to the issuance of the RSUs, including the performance based RSUs, has been recognized in "general and administrative expenses" in the Company's consolidated income statements for the three months ended March 31, 2010 and 2009, respectively. The compensation expense for the RSUs is based on the fair market value of Holdings' common shares at the time of grant. The Company has assumed a weighted average annual forfeiture rate of 4.98% in determining the compensation expense over the service period.</div>
<div
style="margin-top: 6pt; font-size: 10pt;" align="left"> As of March 31, 2010 and December 31, 2009, the Company has recorded $29,392 and $28,827, respectively, in "additional paid-in capital" on the consolidated balance sheets in connection with the RSUs awarded.</div>
<div
style="margin-top: 12pt; font-size: 10pt;" align="left"><b><i>c) Long-term incentive plan</i></b></div>
<div
style="margin-top: 6pt; font-size: 10pt;" align="left"> In 2006, the Company implemented the Allied World Assurance Company Holdings, Ltd Second Amended and Restated Long-Term Incentive Plan ("LTIP"). The LTIP provides for performance based equity awards to key employees in order to promote the long-term growth and profitability of the Company. Each award represents the right to receive a number of common shares in the future, based upon the achievement of established performance criteria during the applicable three-year performance period. A total of 2,000,000 common shares may be issued under the LTIP. </div>
<div>
<table
style="font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr valign="bottom">
<td width="76%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td></tr>
<tr
style="font-size: 8pt;" valign="bottom">
<td> </td>
<td> </td>
<td
style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="7"><b>Three Months Ended March 31, 2010</b></td></tr>
<tr
style="font-size: 8pt;" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3"><b>Weighted Average</b></td></tr>
<tr
style="font-size: 8pt;" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3"><b>Grant Date Fair</b></td></tr>
<tr
style="font-size: 8pt;" valign="bottom">
<td> </td>
<td> </td>
<td
style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="3"><b>LTIP</b></td>
<td> </td>
<td
style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="3"><b>Value</b></td></tr>
<tr
style="background: #cceeff;" valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Outstanding LTIP awards at beginning of period</div></td>
<td> </td>
<td> </td>
<td align="right">1,148,411</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">42.28</td>
<td> </td></tr>
<tr valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Additional LTIP awards granted due to the achievement of 2007 — 2009 performance criteria</div></td>
<td> </td>
<td> </td>
<td align="right">181,250</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">43.40</td>
<td> </td></tr>
<tr
style="background: #cceeff;" valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">LTIP awards vested</div></td>
<td> </td>
<td nowrap="nowrap" align="right"> </td>
<td align="right">(543,750</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right">43.40</td>
<td> </td></tr>
<tr
style="font-size: 1px;">
<td>
<div
style="margin-left: 15px; text-indent: -15px;"> </div></td>
<td> </td>
<td> </td>
<td
style="border-top: #000000 1px solid;" align="right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Outstanding LTIP awards at end of period</div></td>
<td> </td>
<td> </td>
<td align="right">785,911</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">41.76</td>
<td> </td></tr>
<tr
style="font-size: 1px;">
<td>
<div
style="margin-left: 15px; text-indent: -15px;"> </div></td>
<td> </td>
<td> </td>
<td
style="border-top: #000000 3px double;" align="right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr></table></div>
<div
style="margin-top: 6pt; font-size: 10pt;" align="left"> Compensation expense of $5,021 and $4,642 relating to the LTIP has been recognized in "general and administrative expenses" in the Company's consolidated income statements for the three months ended March 31, 2010 and 2009, respectively. The compensation expense for the LTIP is based on the fair market value of the Company's common shares at the time of grant. The LTIP is deemed to be an equity plan and as such, $64,783 and $59,777 have been included in "additional paid-in capital" on the consolidated balance sheets as of March 31, 2010 and December 31, 2009, respectively. </div>
<div
style="margin-top: 6pt; font-size: 10pt;" align="left"> In calculating the compensation expense and in the determination of share equivalents for the purpose of calculating diluted earnings per share, it is estimated for the LTIP awards granted in 2008 that the maximum performance goals as set by the LTIP are likely to be achieved over the performance period. Based on the performance goals, the LTIP awards granted in 2008 are expensed at 150% of the fair market value of Holdings' common shares on the date of grant. For the LTIP awards granted in 2009, the Company anticipates that the performance goals as set by the LTIP are likely to be achieved above the target but below the maximum over the performance period. Based on the performance goals, the LTIP awards granted in 2009 are expensed at 132.5% of the fair market value of Holdings' common shares on the date of grant. The expense is recognized over the performance period. </div></div>
<div
style="font-family: 'Times New Roman',Times,serif;">
<div
style="margin-top: 12pt; font-size: 10pt;" align="left"><b><i>d) Cash-equivalent stock awards</i></b></div>
<div
style="margin-top: 6pt; font-size: 10pt;" align="left"> As part of the Company's annual year-end compensation awards, the Company granted both stock-based awards and cash-equivalent stock awards. The cash-equivalent awards were granted to employees who received RSU and LTIP awards and were granted in lieu of granting the full award as a stock-based award. The cash-equivalent RSU awards vest pro-rata over four years from the date of grant. The cash-equivalent LTIP awards and performance based RSU awards vest after a three-year performance period. As the cash-equivalent awards are settled in cash, we establish a liability equal to the product of the fair market value of Holdings' common shares as of the end of the reporting period and the total awards outstanding. The liability is included in "accounts payable and accrued expenses" in the balance sheets and changes in the liability are recorded in "general and administrative expenses" in the consolidated income statements. For the three months ended March 31, 2010 and 2009, the expense recognized for the cash-equivalent stock awards was $2,309 and $536, respectively.</div>
<div
style="margin-top: 6pt; font-size: 10pt;" align="left"> The following table shows the stock related compensation expense relating to the stock options, RSUs, LTIP and cash equivalent awards for the three months ended March 31, 2010 and 2009. </div>
<div>
<table
style="font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr valign="bottom">
<td width="76%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td></tr>
<tr
style="font-size: 8pt;" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="6"><b>For the Three Months Ended</b></td>
<td> </td></tr>
<tr
style="font-size: 8pt;" valign="bottom">
<td> </td>
<td> </td>
<td
style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="6"><b>March 31,</b></td>
<td> </td></tr>
<tr
style="font-size: 8pt;" valign="bottom">
<td> </td>
<td> </td>
<td
style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>2010</b></td>
<td> </td>
<td> </td>
<td
style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="center" colspan="2"><b>2009</b></td>
<td> </td></tr>
<tr
style="background: #cceeff;" valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Stock Options</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">792</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">625</td>
<td> </td></tr>
<tr valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">RSUs</div></td>
<td> </td>
<td> </td>
<td align="right">3,714</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,351</td>
<td> </td></tr>
<tr
style="background: #cceeff;" valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">LTIP</div></td>
<td> </td>
<td> </td>
<td align="right">5,021</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">4,642</td>
<td> </td></tr>
<tr valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Cash-equivalent stock awards</div></td>
<td> </td>
<td> </td>
<td align="right">2,309</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">536</td>
<td> </td></tr>
<tr
style="font-size: 1px;">
<td>
<div
style="margin-left: 15px; text-indent: -15px;"> </div></td>
<td> </td>
<td
style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td>
<td> </td>
<td> </td>
<td
style="border-top: #000000 1px solid;" nowrap="nowrap" align="right" colspan="2"> </td>
<td> </td></tr>
<tr
style="background: #cceeff;" valign="bottom">
<td>
<div
style="margin-left: 15px; text-indent: -15px;">Total</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">11,836</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">8,154</td>
<td> </td></tr>
<tr
style="font-size: 1px;">
<td>
<div
style="margin-left: 15px; text-indent: -15px;"> </div></td>
<td> </td>
<td
style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td>
<td> </td>
<td> </td>
<td
style="border-top: #000000 3px double;" nowrap="nowrap" align="right" colspan="2"> </td>
<td> </td></tr></table><b> </b></div></div></div> </div>11. EMPLOYEE BENEFIT PLANS
a) Employee option plan
In 2001, the Company implemented the Allied World Assurance CompanyfalsefalsefalseDisclosure of compensation-related costs for share-based compensation which may include disclosure of policies, compensation plan details, allocation of stock compensation, incentive distributions, share-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14
falsefalse11falseUnKnownUnKnownUnKnownfalsetrue