Document:

EX-4.25

 Exhibit 4.25 
 SECOND AMENDMENT TO THE PROGRESSIVE CORPORATION 
 EXECUTIVE DEFERRED
COMPENSATION TRUST 
 (November 8, 2002, Amendment and Restatement) 

THIS SECOND AMENDMENT, dated and effective as of the first day of May, 2007, except as otherwise set forth herein, by and between
Fidelity Management Trust Company (the “Trustee”) and The Progressive Corporation (“Company”); 
 WITNESSETH:

 WHEREAS, the Trustee and Company heretofore entered into a Trust Agreement dated November 8, 2002, with regard to The
Progressive Corporation Executive Deferred Compensation Trust (the “Trust”); and 
 WHEREAS,
Company has informed the Trustee that effective the close of business on May 1, 2007, the assets of the American
Funds® Washington Mutual Investors Fundsm – Class A shall be frozen to new contributions and exchanges in; and 

WHEREAS, Company now desires, and hereby directs the Trustee, in accordance with Section 5 and Subsection 8(g)
of the Trust Agreement, effective the close of business on May 1, 2007, to redirect all participant contributions originally directed to the American Funds® Washington Mutual Investors Fundsm
– Class A to the Vanguard Value Index Fund – Institutional Class. The parties hereto agree that the Trustee shall have no discretionary authority with respect to this
redirection directed by Company. Any variation from the procedure described herein may be instituted only at the express written direction of Company; and 
 WHEREAS, Company hereby directs the Trustee, in accordance with Section 5 and Subsection 8(g) of the Trust Agreement, effective the close of business on May 31, 2007, to liquidate all
participant balances held in the American Funds® Washington Mutual Investors Fundsm – Class A at its net asset value on such day, and to
invest the proceeds in the Vanguard Value Index Fund – Institutional Class at its net asset value on such day. The parties hereto agree that the Trustee shall have no discretionary authority with respect to this sale and transfer directed by
Company. Any variation from the procedure described herein may be instituted only at the express written direction of Company; and 
 WHEREAS, the Trustee and Company now desire to amend said Trust Agreement as provided for in Section 12 thereof; 
 NOW THEREFORE, in consideration of the above premises, the Trustee and Company hereby amend the Trust Agreement by: 
  

	 	(1)	 Effective the close of business on May 1, 2007, amending the “investment options” section of Schedule “A” to delete the
reference to “Washington Mutual Investors Fund – Class A” and replace it with “American
Funds® Washington Mutual Investors Fundsm – Class A (frozen to new contributions and exchanges in).” 

 

	 	(2)	Effective the close of business on May 1, 2007, amending the “investment options” section of Schedule “A” to add the following:

  

	 	•	 	 Vanguard Value Index Fund—Institutional Class 

  

	 	•	 	 Vanguard Growth Index Fund—Institutional Class 

  

	 	•	 	 Vanguard Mid-Cap Index Fund—Institutional Class 

  

	 	•	 	 Vanguard Total International Stock Index Fund – Investor Class 

 

	 	•	 	 Vanguard Small-Cap Index Fund – Institutional Class 

  

	 	(3)	Effective the close of business on May 31, 2007, amending the “investment options” section of Schedule “A” to delete the following:

  

	 	•	 	 American
Funds® Washington Mutual Investors Fundsm – Class A (frozen to new contributions and exchanges in) 

IN WITNESS WHEREOF, the Trustee and Company have caused this Second Amendment to be executed by their duly authorized officers. By signing
below, the undersigned represent that they are authorized to execute this document on behalf of the respective parties. Notwithstanding any contradictory provision of the Trust Agreement that this document amends, each party may rely without duty of
inquiry on the foregoing representation. 
  

													
	THE PROGRESSIVE CORPORATION	 	FIDELITY MANAGEMENT TRUST COMPANY
							
	By: 	 	/s/Charles E.
Jarrett                    	 	4/27/07	 		 	By:	  	/s/Stephanie Nick                	  	5/9/07
							
		 	Authorized Signatory                    	 	Date	 		 		  	Authorized Signatory            	  	DateEX-4.26

 Exhibit 4.26 
 THIRD AMENDMENT TO THE PROGRESSIVE CORPORATION 
 EXECUTIVE DEFERRED
COMPENSATION TRUST 
 (November 8, 2002, Amendment and Restatement) 

THIS THIRD AMENDMENT, dated and effective as of the second day of January, 2008, except as otherwise set forth herein, by and between
Fidelity Management Trust Company (the “Trustee”) and The Progressive Corporation (“Company”); 
 WITNESSETH:

 WHEREAS, the Trustee and Company heretofore entered into a Trust Agreement dated November 8, 2002, with regard to The
Progressive Corporation Executive Deferred Compensation Trust (the “Trust”); and 
 WHEREAS, the Trustee and Company
now desire to amend said Trust Agreement as provided for in Section 12 thereof; 
 NOW THEREFORE, in consideration of the
above premises, the Trustee and Company hereby amend the Trust Agreement by: 
  

	 	1.	Restating the “Annual Recordkeeping Fee” section of Schedule “B”, in its entirety, as follows: 

Annual Recordkeeping Fee
                     $0. 
  

	 	2.	Amending the Schedule “B” to delete the following: 

  

			
	*Trustee Fees	  	0.10% per year of Trust assets invested in Company Stock payable pro rata quarterly on the basis of such assets as of the calendar quarter’s last valuation date, but no
less than $5,000.00 nor more than $35,000.00 per year.

 IN WITNESS WHEREOF, the Trustee and Company have caused this Third Amendment to be executed by their duly
authorized officers. By signing below, the undersigned represent that they are authorized to execute this document on behalf of the respective parties. Notwithstanding any contradictory provision of the Trust Agreement that this document amends,
each party may rely without duty of inquiry on the foregoing representation. 
  

									
	THE PROGRESSIVE CORPORATION	 		 	FIDELITY MANAGEMENT TRUST COMPANY
			
	
By:                       
                                         
                  
	 		 	
By:                       
                                         
                  

	      Its authorized signatory	 		 	      Its authorized signatory
			
	
Name:                       
                                         
            
	 		 	
Name:                       
                                         
            

			
	
Title:                       
                                         
               
	 		 	
Title:                       
                                         
              

			
	
Date:                       
                                         
              
	 		 	
Date:EX-4.27

 Exhibit 4.27 
 FOURTH AMENDMENT TO THE PROGRESSIVE CORPORATION 
 EXECUTIVE DEFERRED
COMPENSATION TRUST 
 (November 8, 2002, Amendment and Restatement) 

THIS FOURTH AMENDMENT, dated and effective as of the nineteenth day of May, 2008, except as otherwise set forth herein, by and between
Fidelity Management Trust Company (the “Trustee”) and The Progressive Corporation (“Company”); 
 WITNESSETH:

 WHEREAS, the Trustee and Company heretofore entered into a Trust Agreement dated November 8, 2002, with regard to The
Progressive Corporation Executive Deferred Compensation Trust (the “Trust”); and 
 WHEREAS, the Company has informed
the Trustee that effective after the close of business on May 19, 2008, the assets of the Fidelity Dividend Growth Fund shall be frozen to new contributions and exchanges in; and 

WHEREAS, the Company now desires, and hereby directs the Trustee, in accordance with Section 5 and Subsection 8(g) of the Trust
Agreement, effective after the close of business on May 19, 2008, to redirect all participant contributions directed to the Fidelity Dividend Growth Fund to be invested in the Vanguard Institutional Index Fund (a/k/a Vanguard
Institutional Index Fund – Institutional Shares). The parties hereto agree that the Trustee shall have no discretionary authority with respect to this redirection directed by the Company. Any variation from the procedure described herein may be
instituted only at the express written direction of the Company; and 
 WHEREAS, the Company hereby directs the Trustee, in
accordance with Section 5 and Subsection 8(g) of the Trust Agreement, effective after the close of business on August 19, 2008, to liquidate all participant balances held in the Fidelity Dividend Growth Fund at its net asset value
on such day, and to invest the proceeds in the Vanguard Institutional Index Fund (a/k/a Vanguard Institutional Index Fund – Institutional Shares) at its net asset value on such day. The parties hereto agree that the Trustee shall have no
discretionary authority with respect to this sale and transfer directed by the Company. Any variation from the procedure described herein may be instituted only at the express written direction of the Company; and 

WHEREAS, the Trustee and Company now desire to amend said Trust Agreement as provided for in Section 12 thereof; 

NOW THEREFORE, in consideration of the above premises, the Trustee and Company hereby amend the Trust Agreement by: 

 

	 	(1)	Effective after the close of business on May 19, 2008, amending the “investment options” section of Schedule “A” to delete the reference
to the “Fidelity Dividend Growth Fund” and replace it with “Fidelity Dividend Growth Fund (frozen to new contributions and exchanges in)”. 

 

	 	(2)	Effective after the close of business on August, 19, 2008, amending the “investment options” section of Schedule “A” to delete the following:

  

	 	•	 	 Fidelity Dividend Growth Fund (frozen to new contributions and exchanges in) 

 IN WITNESS WHEREOF, the Trustee and Company have caused this Fourth Amendment to be executed
by their duly authorized officers. By signing below, the undersigned represent that they are authorized to execute this document on behalf of the respective parties. Notwithstanding any contradictory provision of the Trust Agreement that this
document amends, each party may rely without duty of inquiry on the foregoing representation. 
  

									
	 THE PROGRESSIVE CORPORATION
	 		 	FIDELITY MANAGEMENT TRUSTCOMPANY
					
	By:	 	 /s/ Charles E. Jarrett _
	 		 	By:	 	 /s/ Carolyn Redden

					
		 	Its authorized signatory	 		 		 	Its authorized signatory
					
	Name:	 	Charles E. Jarrett	 		 	Name:	 	Carolyn Redden
					
	Title:	 	Secretary	 		 	Title:	 	Contracts SVP
					
	Date:	 	May 15, 2008	 		 	Date:	 	June 20, 2008

  
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