SELECTIVE INSURANCE GROUP, INC.
CASH INCENTIVE PLAN
CASH INCENTIVE UNIT AWARD AGREEMENT
This CASH INCENTIVE UNIT AWARD AGREEMENT (“ Agreement ”) is made and entered into as o
[DATE], pursuant to the Selective Insurance Group, Inc. Cash Incentive Plan (the “ Plan ”) by and betwee
SELECTIVE INSURANCE GROUP, INC. , a New Jersey corporation (the “ Company ”) and [EMPLOYEE
(the “ Recipient ”).
WHEREAS, the Salary and Employee Benefits Committee (the “ Committee ”) of the Board of Directors of th
Company (the “ Board ”), has approved the grant of cash incentive units (each a “Cash Unit”), as described in 2 belo
(the “ Award ”) pursuant to the Plan to the Recipient as set forth below;
NOW, THEREFORE , in consideration of the covenants and agreements herein contained, and intending to b
legally bound hereby, the parties agree as follows:
1. Definitions . Capitalized terms which are not defined herein shall have the meaning set forth in the Plan. If an
provision of this Agreement conflicts with any provision of the Plan, (as determined in the sole discretion of th
Committee) the Plan shall govern.
2. Grant of Cash Units; Initial Value . The Company hereby grants to the Recipient, pursuant to the Plan o
the date set forth above, an Award of [NUMBER] Cash Units. Each Cash Unit granted hereunder shall have an initi
value of one hundred dollars ($100). The number of Cash Units deemed ultimately earned at the end of th
Performance Period hereunder may increase or decrease from the initial number of Cash Units awarded as described i
4(b)(ii) below. The final value of each Cash Unit shall be adjusted to reflect the percentage increase or decrease of th
total shareholder return on the common stock of the Company, as set forth in 4(b)(i) below.
3. Payment of Cash Units .
(a) The payment for this Award which the Committee determines, in writing, to be earned pursuant to
Section 4 shall, subject to the provisions of this Section 3, Section 4 and Section 5, be paid in cash by the Company on