Document:

Third Amendment to Executive Deferred Compenstion Plan

 Exhibit 10.35 
 THIRD AMENDMENT TO THE PROGRESSIVE CORPORATION 
 EXECUTIVE DEFERRED
COMPENSATION PLAN 
 (2003 Amendment and Restatement) 

WHEREAS, The Progressive Corporation Executive Deferred Compensation Plan is currently maintained pursuant to a 2003 Amendment and
Restatement and the First and Second Amendments thereto (“Plan”); and 
 WHEREAS, it is deemed desirable to
amend the Plan further; 
 NOW, THEREFORE, the Plan is hereby amended in the respects hereinafter set forth: 

 

	1.	Effective March 17, 2005, Section 4.2 of the Plan is hereby amended and restated in its entirety to provide as follows: 

“4.2 Investment of Accounts. 
 All credits to a Deferral Account of a Participant shall be deemed to be invested in such Investment Fund or Funds as the Participant shall elect from time to time in accordance with Article 5. The number
of shares of Stock to be credited to a Participant’s Account by virtue of a Participant’s initial election to invest a portion of a Deferral in the Company Stock Fund shall be determined on the date of the Deferral in accordance with such
procedures as the Committee shall establish, based on the weighted average price paid for all shares of Stock purchased by the Trustee and deposited in the Trust on that date pursuant to Article 6. Notwithstanding the preceding provisions of this
Section 4.2, (i) all credits to a Deferral Account of a Participant relating to a deferred Restricted Stock Award granted prior to March 17, 2005, shall be deemed to be invested in the Company Stock Fund until six (6) months and
one (1) day following the expiration of the restrictions applicable to such Award, unless otherwise determined by the Committee at or after the deferral of such Award, and, thereafter, the preceding provisions of this Section 4.2 shall
apply, and (ii) all credits to a Deferral Account of a Participant relating to a deferred Restricted Stock Award granted on or after March 17, 2005, shall be deemed to be invested in the Company Stock Fund until the balance of such
Deferral Account has been distributed or withdrawn in accordance with Article 3.” 
  

	2.	Effective March 17, 2005, the following is hereby added to the end of Section 5.4 of the Plan: 

“Notwithstanding the preceding provisions of this Section 5.4, each Deferral of a Restricted Stock Award granted on or after
March 17, 2005 shall be deemed to be invested in the Company Stock Fund until the Deferral Account to which such Deferral has been credited has been distributed or withdrawn in accordance with Article 3 of this Plan.” 

 

	3.	Except as expressly provided in this Amendment, the terms and provisions of the Plan shall remain entirely unchanged and continue in full force and effect.

 IN WITNESS WHEREOF, the undersigned has hereunto caused this Amendment to be executed by its duly
authorized representative effective as of the date set forth above. 
  

			
	THE PROGRESSIVE CORPORATION
		
	By:	 	/s/ Charles E. Jarrett
	Title:	 	Vice President & SecretaryFourth Amendment to Executive Deferred Compensation Plan

 Exhibit 10.36 
 FOURTH AMENDMENT TO THE PROGRESSIVE CORPORATION 
 EXECUTIVE DEFERRED
COMPENSATION PLAN 
 (2003 Amendment and Restatement) 

WHEREAS, The Progressive Corporation Executive Deferred Compensation Plan is currently maintained pursuant to a 2003 Amendment and
Restatement and the First through Third Amendments thereto (“Plan”); and 
 WHEREAS, it is deemed desirable to
amend the Plan further; 
 NOW, THEREFORE, the Plan is hereby amended in the respects hereinafter set forth: 

1. Effective September 1, 2005, Section 3.4 of the Plan is hereby amended and restated in its entirety to
provide as follows: 
  

	 	3.4	Form of Distribution. 

Distributions of Deferrals of Restricted Stock Awards granted in 2005 and later years shall be made in Stock, with any fractional shares
of Stock and any portion of such distribution that is derived from cash dividends on deferred Restricted Stock Awards to be made in cash. All other Plan distributions shall be made in cash. 

2. Effective September 1, 2005, the last sentence in Article 3, Section 3.5 shall be deleted and replaced by the
following provisions: 
 The provisions of Section 3.4 shall apply to all withdrawals under this Section 3.5.

 3. Effective December 1, 2005, the following is hereby added to the Plan as new paragraph (k) of
Section 2.2: 
  

	 	“(k)	Notwithstanding the preceding provisions of this Section 2.2 or any other provisions of the Plan, each Eligible Executive who elected to defer any portion of a
Gainsharing Award that became payable or will become payable in 2005 or 2006 or a Restricted Stock Award granted in 2005 may revoke such election. Such revocation shall be in writing on such forms as the Committee shall prescribe and must be
received by the Committee on or before December 30, 2005. 

 4. Except as expressly provided
in this Amendment, the terms and provisions of the Plan shall remain entirely unchanged and continue in full force and effect. 

IN WITNESS WHEREOF, the undersigned has hereunto caused this Amendment to be executed by its duly authorized representative
effective as of the date set forth above. 
  

			
	THE PROGRESSIVE CORPORATION
		
	By:	 	/s/ Charles E. Jarrett
	Title:	 	Vice PresidentForm of Executive Deferred Compensation Plan Performance-Based

 Exhibit 10.43 
 The Progressive Corporation 
 Executive Deferred Compensation Plan

 Performance-Based Restricted Stock Deferral Agreement 
 THIS DEFERRAL AGREEMENT is entered into pursuant to the provisions of The Progressive Corporation Executive Deferred Compensation Plan (“Plan”). All capitalized terms in this Agreement shall
have the meanings ascribed to them in the Plan. 
 1. Deferral Election. I hereby elect to defer receipt of all Performance-Based Restricted
Stock Awards granted to me in 2006 under The Progressive Corporation 2003 Incentive Plan. This election shall become effective as of the date the restrictions applicable to such Awards (or portion thereof) expire and shall not apply to any Award (or
portion thereof) that fails to vest free of all restrictions. 
 2. Method of Distribution. I hereby elect that any distribution of the balance
of the Deferral Account established pursuant to this Agreement made on account of Termination of Employment be paid as follows: (Select one) 
  

	 	•	 	 Single Lump Sum Payment 

  

	 	•	 	 Three Annual Installments 

  

	 	•	 	 Five Annual Installments 

  

	 	•	 	 Ten Annual Installments 

 I
understand that Plan distributions made for reasons other than Termination of Employment will be made in a single lump sum payment, unless the Plan provides otherwise. I understand that I may change the method of distribution elected above only if
and to the extent permitted by the Plan. 
 3. Investment of Deferral Account. I understand that each amount credited to the Deferral Account
established pursuant to this Agreement shall be deemed to be invested in The Company Stock Fund until the day it is distributed. I also understand that this deemed investment is merely a device used to determine the amount payable to me under the
Plan and does not provide me with any actual rights or interests in any particular funds, securities or property of the Company, any Affiliated Company or the Trust or in any stock of The Progressive Corporation. I also understand that my right to
receive distributions under the Plan makes me a general creditor of the Company with no greater right or priority than any other general creditor of the Company. 
 4. Miscellaneous. I understand that this Agreement is subject to the terms, conditions and limitations of the Plan, as in effect from time to time, in all respects and that, except as expressly permitted
by the Plan, all elections made in this Agreement are irrevocable. I acknowledge that I have received, read and understand the Plan Description dated December, 2005 relating to the Plan. I agree to accept as final and binding all decisions and
interpretations of the Committee relating to the Plan, the Trust and this Agreement. 
 ALSO, I UNDERSTAND THAT THE PLAN IS LIKELY TO BE
AMMENDED IN SIGNIFICANT RESPECTS FOLLOWING MY EXECUTION OF THIS AGREEMENT. I AGREE TO BE BOUND BY ALL SUCH AMENDMENTS AND BY ANY CHANGES SUCH AMENDMENTS MAY REQUIRE IN THE TERMS AND CONDITIONS OF THIS AGREEMENT. 

NAME OF ELIGIBLE EXECUTIVE: 
 EMPLOYEE
ID: 
 DATE: 
 Your
electronic submission of this Election Form will create a date/time stamp and serve as your signature.Form of Executive Deferred Compensation Plan Time-Based

 Exhibit 10.48 
 The Progressive Corporation 
 Executive Deferred Compensation Plan

 Time-Based Restricted Stock Deferral Agreement 
 THIS DEFERRAL AGREEMENT is entered into pursuant to the provisions of The Progressive Corporation Executive Deferred Compensation Plan (“Plan”). All capitalized terms in this Agreement shall
have the meanings ascribed to them in the Plan. 
 1. Deferral Elections. I hereby elect to defer receipt of all Time-Based Restricted Stock
Awards granted to me in 2006 under The Progressive Corporation 2003 Incentive Plan. This election shall become effective as of the date the restrictions applicable to such Awards (or portion thereof) expire and shall not apply to any Award (or
portion thereof) that fails to vest free of all restrictions. 
 2. Fixed Deferral Period. (The Plan gives you the option of electing a Fixed
Deferral Period. If you elect a Fixed Deferral Period, the balance of your Deferral Account established pursuant to this Agreement will be distributed to you within 30 days after the end of the Fixed Deferral Period, or, if earlier, the date you die
or incur a Termination of Employment or the date a Change in Control occurs. If you do not elect a Fixed Deferral Period, your Account will be distributed within 30 days after the earlier of the date you die or incur a Termination of Employment or
the date a Change in Control occurs.) However, for certain executives, distributions due to Termination of Employment will not be made until six months after the employment termination date. 
 Please select one of the following: 
  

	 	•	 	 I wish to elect a Fixed Deferral Period. 

  

	 	•	 	 I do not wish to elect a Fixed Deferral Period. 

 I elect a fixed Deferral Period ending on [                    ] 

(*Must be a date at least 3 years after the end of the calendar year in which the Restricted Stock Award becomes fully vested. For example, if a
Time-Based Restricted Stock Award vests in three equal installments in 2009, 2010 and 2011, you must select a date at least 3 years after the end of the calendar year in which the last installment vests (in this case, no earlier then –
01/01/2015). 
 3. Method of Distribution. I hereby elect that any distribution of the balance of the Deferral Account established
pursuant to this Agreement made on account of Termination of Employment or expiration of a Fixed Deferral Period be paid as follows: (Select one) 
  

	 	•	 	 Single Lump Sum payment 

  

	 	•	 	 Three Annual Installments 

  

	 	•	 	 Five Annual Installments 

  

	 	•	 	 Ten Annual Installments 

 I understand that Plan distributions made for reasons other than Termination of Employment or expiration of a Fixed Deferral Period will be made in a single lump sum payment, unless the Plan provides
otherwise. I understand that I may change the method of distribution elected above only if and to the extent permitted by the Plan. 
 4.
Investment of Deferral Account. I understand that each amount credited to the Deferral Account established pursuant to this Agreement shall be deemed to be invested in The Company Stock Fund until the day it is distributed. I also understand that
this deemed investment is merely a device used to 

 
determine the amount payable to me under the Plan and does not provide me with any actual rights or interests in any particular funds, securities or property of the Company, any Affiliated
Company or the Trust or in any stock of The Progressive Corporation. I also understand that my right to receive distributions under the Plan makes me a general creditor of the Company with no greater right or priority than any other general creditor
of the Company. 
 5. Miscellaneous. I understand that this Agreement is subject to the terms, conditions and limitations of the Plan, as in
effect from time to time, in all respects and that, except as expressly permitted by the Plan, all elections made in this Agreement are irrevocable. I acknowledge that I have received, read and understand the Plan Description dated December, 2005
relating to the Plan. I agree to accept as final and binding all decisions and interpretations of the Committee relating to the Plan, the Trust and this Agreement. 
 ALSO, I UNDERSTAND THAT THE PLAN IS LIKELY TO BE AMENDED IN SIGNIFICANT RESPECTS FOLLOWING MY EXECUTION OF THIS AGREEMENT. I AGREE TO BE BOUND BY ALL SUCH AMENDMENTS AND BY ANY CHANGES SUCH AMENDMENTS MAY
REQUIRE IN THE TERMS AND CONDITIONS OF THIS AGREEMENT. 
 NAME OF ELIGIBLE EXECUTIVE: 

EMPLOYEE ID: 
 DATE: 

Your electronic submission of this Election Form will create a date/time stamp and serve as your signature.

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