Supplemental Retirement Benefit Agreement for Edward M. Liddy
This agreement outlines enhanced retirement benefits for Edward M. Liddy. Upon his termination, retirement, death, or a change of control at Allstate, Mr. Liddy will receive a supplemental pension from a nonqualified plan. The benefit calculation assumes five extra years of age and service under Allstate’s pension formula until age 61, and the maximum credited service at age 62 or older. The enhancement functions as a supplemental retirement plan if there is a change of control.
Exhibit 10.21
RETIREMENT BENEFITS OF
EDWARD M. LIDDY
Mr. Liddy will receive a pension enhancement payable from a nonqualified pension plan upon termination, retirement, death or change of control. The enhanced pension benefit assumes an additional five years of age and service under the pension formula of Allstate's qualified pension plan through age 61. At age 62 and after, the enhancement is based on the maximum credited service under the pension formula. This enhancement is considered to be a supplemental retirement plan in the event of a change of control.
