The Hartford 2008 Annual Report Download - page 527

“Severance Payment” means an amount equal to two times the sum of: (i) Executive’s Base Salary at the rate in
effect as of the date of termination of the Employment Period, and (ii) Executive’s Target Bonus amount under
Section 3(b) hereof for the calendar year in which the Employment Period terminates.
“Termination Due to Death” means a termination of Executive’s employment due to the death of Executive.
“Termination Due to Disability” means (i) a termination of Executive’s employment by the Company as a result
of a determination by the Board or the appropriate committee thereof that Executive has been incapable of
substantially fulfilling the positions, duties, responsibilities and obligations set forth in this Agreement on account
of physical, mental or emotional incapacity resulting from injury, sickness or disease for a period of (A) at least
four consecutive months, or (B) more than six months in any twelve month period, or (ii) Executive’s termination
of employment on account of Disability as defined in The Hartford Investment and Savings Plan, as may be
amended from time to time.
“Termination Due to Retirement” means Executive’s termination of employment on account of Executive’s
Retirement as defined in The Hartford Investment and Savings Plan, as may be amended from time to time.
“Termination For Cause” means a termination of Executive’s employment by the Company for any of the
following reasons: (i) Executive is convicted of or enters a plea of guilty or nolo contendere to a felony, a crime of
moral turpitude, dishonesty, breach of trust or unethical business conduct, or any crime involving the business of
the Company or its affiliates; (ii) in the performance of his duties hereunder or otherwise to the detriment of the
Company or its affiliates, Executive engages in (A) willful misconduct, (B) willful or gross neglect, (C) fraud,
(D) misappropriation, (E) embezzlement, or (F) theft; (iii) Executive willfully fails to adhere to the policies and
practices of the Company or devote substantially all of his business time and effort to the affairs thereof, or
disobeys the directions of the Board to do either of the foregoing; (iv) Executive breaches this Agreement in any
material respect; (v) Executive is adjudicated in any civil suit to have committed, or acknowledges in writing or in
any agreement or stipulation his commission, of any theft, embezzlement, fraud or other intentional act of
dishonesty involving any other person; or (vi) Executive violates the Code of Conduct of the Company.
“Termination Without Cause” means any involuntary termination of Executive’s employment by the Company
other than a Termination For Cause, a Termination Due to Disability or a Termination Due to Death.
“Vested Benefits” means amounts that are vested or that Executive is otherwise entitled to receive, without the
performance by Executive of further services or the resolution of a contingency, under the terms of or in
accordance with any investment and savings plan or retirement plan (including any plan providing retiree medical
benefits) of the Company or its affiliates, and any ERPs or ESPs related thereto, and any deferred compensation or
employee stock purchase plan or similar plan or program of the Company or its affiliates.
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Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009