Yup, it's safe. All the amp sees is the 4ohm total load made by plugging in the 8ohm speaker and the 8ohm 4x12 cab (two 8ohm loads in parallel are equivalent to one 4ohm load). You could have a cab with 10 speakers and as long as it was wired so that the load was 8ohms total, you'd be fine. Just make sure that the speaker and the cab are each, indeed, 8ohms, and not less, and you'll be perfectly safe.