The Progressive Corporation Director Compensation Schedule (May 2013–May 2014)
This document outlines the compensation structure for directors of The Progressive Corporation for the period from May 2013 to May 2014. It specifies annual compensation amounts for the Chairman of the Board, committee chairs, and committee members, including the Audit, Compensation, Investment, and Nominating and Governance Committees. It also notes that members of the Executive Committee do not receive additional compensation. The agreement sets clear payment terms for each director role during the specified timeframe.
Exhibit 10.1
THE PROGRESSIVE CORPORATION
DIRECTOR COMPENSATION
May 2013-May 2014
| Chairman of the Board | $ | 300,000 | ||
| Audit Committee Chair | $ | 250,000 | ||
| Audit Committee Member | $ | 230,000 | ||
| Compensation Committee Chair | $ | 240,000 | ||
| Compensation Committee Member | $ | 225,000 | ||
| Investment Committee Chair | $ | 230,000 | ||
| Investment Committee Member | $ | 225,000 | ||
| Nominating and Governance Chair | $ | 20,000 additional | ||
| Nominating and Governance Member | $ | 15,000 additional |
NOTES:
| 1. | Members of the Executive Committee do not receive additional compensation. |
