Third Amendment to The Progressive Corporation 2003 Incentive Plan

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This amendment, made by The Progressive Corporation, modifies the company's 2003 Incentive Plan by deleting Section 6(d), which was titled "Buyout Provisions." All other terms of the plan remain unchanged. The amendment reflects a decision by the Board of Directors to update the plan's terms. No other changes or new obligations are introduced by this amendment.

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EX-10.2 3 dex102.htm THIRD AMENDMENT TO THE PROGRESSIVE CORPORATION 2003 INCENTIVE PLAN Third Amendment to The Progressive Corporation 2003 Incentive Plan

Exhibit 10.2

THIRD AMENDMENT

TO

THE PROGRESSIVE CORPORATION

2003 INCENTIVE PLAN

WHEREAS, The Progressive Corporation 2003 Incentive Plan, as heretofore amended (the “Plan”) is currently in effect; and

WHEREAS, the Board of Directors believes that it is desirable to further amend the Plan;

NOW, THEREFORE, the Plan is hereby amended as follows:

 

  1. Section 6(d), entitled “Buyout Provisions,” is hereby deleted in its entirety.

 

  2. Except as expressly modified hereby, the terms of the Plan shall be unchanged.