The Hartford 2008 Annual Report Download - page 582

“Pro-Rata Target Bonus” means an amount equal to the product of: (i) an amount equal to the Target Bonus
Executive would have been entitled to receive under Section 3(b) for the calendar year in which the Employment
Period terminates, and (ii) a fraction (the “Service Fraction”), the numerator of which is equal to the number of
rounded months in such calendar year which have elapsed as of the date of such termination, and the denominator
of which is 12;provided that, if the Employment Period terminates in the last quarter of any calendar year, the
Pro-Rata Target Bonus shall be the amount determined under the above formula or, if greater, the product of:
(A) the bonus that would have been paid to Executive based on actual performance for such calendar year, and
(B) the Service Fraction.
“Severance Payment” means an amount equal to two times the sum of: (i) Executive’s Base Salary, 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 ornolo 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/her 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/her 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
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Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009