The Hartford 2008 Annual Report Download - page 641

“Voluntary Termination” means any voluntary termination of Executive’s employment by Executive, other
than a Termination For Good Reason, a Termination Due to Retirement, or a Termination Due to Disability by
Executive.
“Welfare Benefits Continuation” means that until the second anniversary of the Date of Termination,
Executive and, if applicable, his or her dependents, shall be entitled to continue participation in the life and
health insurance benefit plans of the Company or its affiliates in which Executive and/or such dependents
were participating as of the Date of Termination, and such other welfare benefit plans thereof in which the
Company or its affiliates are required by law to permit the participation of Executive and/or such dependents,
(collectively, the “Welfare Benefit Plans”). Such participation shall be on the same terms and conditions
(including the requirement that Executive pay any premiums generally paid by an employee) as would apply if
Executive were still in the employ of the Company and/or the Subsidiaries;provided that the continued
participation of Executive and/or the dependents of Executive in such Welfare Benefit Plans shall cease on
such earlier date as Executive may become eligible for comparable welfare benefits provided by a subsequent
employer. To the extent that Welfare Benefits Continuation cannot be provided under the terms of the
applicable plan, policy or program, the Company shall provide a comparable benefit under another plan or
from the Company’s general assets.
(e) Out-Placement Services. If the Employment Period terminates because of a Termination Without Cause
or a Termination For Good Reason, Executive shall be entitled to out-placement services, provided by the
Company or its designee at the Company’s expense, for 12 months following the Date of Termination, or such
lesser period as Executive may require such services.
(f) Certain Further Payments by Company.
(i) Tax Reimbursement Payment. In the event that any amount or benefit paid or distributed to Executive
pursuant to this Agreement, taken together with any amounts or benefits otherwise paid or distributed to
Executive by the Company or any affiliate (collectively, the “Covered Payments”), are or become subject to
the tax (the “Excise Tax”) imposed under Section 4999 of the Internal Revenue Code of 1986, as amended
(the “Code”), or any similar tax that may hereafter be imposed, the Company shall pay to Executive at the
time specified in this Section an additional amount (the “Tax Reimbursement Payment”) such that the net
amount retained by the Executive with respect to such Covered Payments, after deduction of any Excise
Tax on the Covered Payments and any Federal, state and local income tax and other tax on the Tax
Reimbursement Payment provided for by this Section, but before deduction for any Federal, state or local
income or employment tax withholding on such Covered Payments, shall be equal to the amount of the
Covered Payments.
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Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009