X0303 4 2010-12-01 0 0001379041 Employers Holdings, Inc. EIG 0001388045 Blakey Richard W 10375 PROFESSIONAL CIRCLE RENO NV 89521 1 0 0 0 Dividend Equivalent Rights 2010-12-01 4 A 0 11 0.00 A Common Stock, par value $0.01 11 130 D The dividend equivalent rights ("DERs") accrued on vested restricted stock units ("RSUs") previously granted to the reporting person where the reporting person has voluntarily deferred delivery of such RSUs until six months following termination of service on the board of directors. The DERs become exercisable proportionately with the RSUs to which they relate. Each DER is the economic equivalent of one share of common stock of Employers Holdings, Inc. /s/ Richard W. Blakey 2010-12-02