The Hartford 2008 Annual Report Download - page 638

“Notice of Termination” means: (i) in the case of a Termination For Cause, a written notice given by the
Company to Executive, within 30 calendar days of the Company’s having actual knowledge of the events
giving rise to such Termination For Cause, (ii) in the case of a Termination Without Cause, a written notice
given by the Company to Executive at least 30 calendar days before the effective date of such Termination
Without Cause, (iii) in the case of a Termination For Good Reason, a written notice given by Executive to the
Company within 180 days of Executive’s having actual knowledge of the events giving rise to such
Termination For Good Reason, and which (A) indicates the specific termination provision in this Agreement
relied upon, (B) sets forth in reasonable detail the facts and circumstances claimed to provide a basis for
termination of the Executive’s employment under the provision so indicated, and (C) if the applicable Date of
Termination is other than the date of receipt of such notice, specifies such Date of Termination (which date
shall be not more than 15 days after the giving of such notice),provided that the failure by Executive to set
forth in such Notice of Termination any fact or circumstance that contributes to a showing of Good Reason
shall not waive any right of Executive hereunder or preclude Executive from asserting such fact or
circumstance in enforcing his or her rights hereunder, or (iv) in the case of a Voluntary Termination, a written
notice given by Executive to the Company at least 30 calendar days before the Date of Termination specified
therein.
“Payable” means that a particular benefit shall be paid to Executive in the amount, at the time, and in the
form specified herein.
“Pro-Rata Target Bonus” means an amount equal to the product of: (i) Executive’s Target Bonus under
Section 5(b) for the calendar year in which the Date of Termination occurs, multiplied by (ii) a fraction (the
“Service Fraction”), the numerator of which is equal to the number of rounded months (rounded to the nearest
number of whole months) in such calendar year which have elapsed as of such Date of Termination, and the
denominator of which is 12;provided that, if the Date of Termination occurs in the last quarter of any calendar
year, Pro-Rata Target Bonus shall mean the amount determined under the foregoing 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, multiplied by (B) the Service Fraction.
“Severance Payment” means a cash amount equal to two times the sum of: (i) Executive’s Base Salary at
the rate in effect as of the Date of Termination, plus (ii) Executive’s Target Bonus amount under Section 5(b)
hereof for the calendar year in which the Date of Termination occurs.
“Termination Due to Death” means a termination of Executive’s employment due to the death of Executive.
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Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009