STFC » Topics » Purpose

This excerpt taken from the STFC DEF 14A filed Apr 7, 2009.

Purpose

Consistent with the purpose of the 2000 Equity Plan, the purpose of the 2009 Equity Plan is to advance the interests of the Company and its shareholders by enhancing the Company’s ability to attract and retain highly qualified key employees and by providing such employees with additional incentives and compensation to achieve the Company’s long-term business plans and objectives. The 2009 Equity Plan is also intended to

 

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encourage and enable key employees to participate in the Company’s future prosperity and growth by providing the participants with incentives and compensation based on the Company’s performance, development and financial success. These purposes will be achieved by granting to key employees equity-based awards including stock options to purchase Common Shares, restricted shares, performance shares, performance units and other stock-based awards.

This excerpt taken from the STFC DEF 14A filed Apr 7, 2008.

Section I – Purpose

This 1991 Employee Stock Purchase and Dividend Reinvestment Plan and Trust (the “Plan”) of State Auto Financial Corporation, an Ohio corporation (the “Company”), is established for the benefit of the Eligible Employees of the Company and its parent and subsidiary corporations. The purpose of the Plan is to provide each Eligible Employee with an opportunity to acquire or increase a proprietary interest in the Company. The Plan is intended to meet the requirements of Section 423 of the Internal Revenue Code of 1986, as amended (the “Code”).

This excerpt taken from the STFC DEF 14A filed Mar 30, 2007.

Section I – Purpose

This 1991 Employee Stock Purchase and Dividend Reinvestment Plan and Trust (the “Plan”) of State Auto Financial Corporation, an Ohio corporation (the “Company”), is established for the benefit of the Eligible Employees of the Company and its parent and subsidiary corporations. The purpose of the Plan is to provide each Eligible Employee with an opportunity to acquire or increase a proprietary interest in the Company. The Plan is intended to meet the requirements of Section 423 of the Internal Revenue Code of 1986, as amended (the “Code”).

These excerpts taken from the STFC 10-K filed Mar 13, 2006.

PURPOSE

State Automobile Mutual Insurance Company and its affiliates (collectively, the “State Auto Companies”) are willing to provide members of their Board of Directors (the “Board”), as an incentive for those individuals to continue their relationship with the State Auto Companies, the opportunity to defer the payment of their Board fees for retirement savings purposes.

The Plan is the continuation of the State Auto Insurance Companies Directors Deferred Compensation Plan effective August 1, 1995, which is being amended and restated effective as of March 1, 2001, to reflect (1) the assignment to and assumption by Midwest Security Insurance Company (“Midwest”) of all rights, duties and obligations under the Plan from State Automobile Mutual Insurance Company (“SAMIC”) as they relate to directors who serve solely as directors of SAMIC and no other State Auto Company, (2) the assignment to and assumption by State Auto Property & Casualty Insurance Company (“SAP&C”) of all rights, duties and obligations under the Plan from the other State Auto Companies as they relate to all other directors of the State Auto Companies, other than those described in (1) above; and (3) two additional investment options in which a participant may be permitted to direct the investment of the portion of Midwest’s or SAP&C’s funds allocated to him, as the case may be. For purposes of the Plan, the term “Company” shall mean (a) Midwest for those participants who are directors only of SAMIC and no other State Auto Company, and (b) SAP&C for all other directors of the State Auto Companies.

PURPOSE

State Auto Property & Casualty Insurance Company (the “Company”) is willing to provide as an incentive for those individuals to continue their relationship with the Company, the benefits certain key employees could otherwise earn under the State Auto Insurance Companies Capital Accumulation Plan (the “Qualified Plan”) if certain federal law restrictions did not apply and to provide such individuals an opportunity to defer designated amounts of salary and bonuses. Only a select group of the Company’s management or highly compensated employees will be eligible to participate in this program. The Company’s goal is to retain and reward its key employees by helping them to accumulate benefits for retirement.

The Plan is the continuation of the State Auto Insurance Companies Incentive Deferred Compensation Plan effective August 1, 1995, which is being amended and restated effective March 1, 2001, to reflect (1) two additional investment options in which a participant may be permitted to direct the investment of the portion of the Company’s funds allocated to him; and (2) the assignment to, and assumption by, the Company of all rights, duties and obligations under the Plan from State Automobile Mutual Insurance Company and its other affiliates.

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