SAFECO CORPORATION RESTRICTED STOCK RIGHTS AWARD AGREEMENTRestricted Stock Rights Award Agreement • February 23rd, 2007 • Safeco Corp • Fire, marine & casualty insurance
SETTLEMENT OF YOUR RESTRICTED STOCK RIGHTS WILL BE A TAXABLE EVENT AND WILL RESULT IN THE RECOGNITION BY YOU OF ORDINARY INCOME IN AN AMOUNT EQUAL TO THE FAIR MARKET VALUE OF THE SHARES SETTLED. ON EACH SETTLEMENT DATE SAFECO WILL BE REQUIRED TO COLLECT FROM YOU FEDERAL INCOME TAX WITHHOLDING AS WELL AS OTHER PAYROLL TAXES REQUIRED TO BE WITHHELD. PLEASE NOTE THAT FICA TAXES ARE PAYABLE WHEN THE RESTRICTED PERIOD LAPSES EVEN IF YOUR RESTRICTED STOCK RIGHTS ARE NOT SETTLED AT THAT TIME.
SAFECO CORPORATION STOCK OPTION AWARD AGREEMENTStock Option Award Agreement • February 23rd, 2007 • Safeco Corp • Fire, marine & casualty insurance
Safeco Corporation grants you a stock option to purchase «M__of_Options_Granted» shares of Common Stock of Safeco Corporation ("Option") as outlined below in this stock option award agreement ("Award Agreement"). This Option is granted pursuant to the terms and conditions of the Safeco Long-Term Incentive Compensation Plan of 1997, as amended ("Plan"). The Plan is incorporated by reference into this Award Agreement, which means that this Award Agreement is limited by and subject to the terms and provisions of the Plan. In the event of a conflict between the terms and conditions of the Plan and this Award Agreement, the Plan terms and conditions will control. Capitalized terms used but not otherwise defined in this Award Agreement will have the meanings assigned to them in the Plan. A Plan Summary and a copy of the Plan itself are available on Safeco’s Intranet at Focus>Pay>Policies & Resources>Stock. If you would like to request a hard copy of the Plan Summary or the Plan, please conta
