The Hartford 2008 Annual Report Download - page 692

Notwithstanding any provision in the Plan to the contrary, if any person is an Ineligible Person, or otherwise does not
qualify as an Eligible Employee, or otherwise is ineligible to participate in the Plan, and such person is later required by a
court or governmental authority or regulatory body to be classified as a person who is eligible to participate in the Plan, such
person shall not be eligible to participate in the Plan, notwithstanding such classification, unless and until designated as an
Eligible Employee by the Committee, and if so designated, the participation of such person in the Plan shall be prospective
only.
“Employee” means any person regularly employed by a Participating Company, but shall not include any person who
performs services for a Participating Company as an independent contractor or under any other non-employee classification,
or who is classified by a Participating Company as, or determined by a Participating Company to be, an independent
contractor.
“Fair Market Value,” unless otherwise indicated in the provisions of this Plan, means, as of any date, the composite
closing price for one share of Stock on the New York Stock Exchange or, if no sales of Stock have taken place on such date,
the composite closing price on the most recent date on which selling prices were quoted, the determination to be made in the
discretion of the Committee.
“Formula Price” means (i) in the case of the exercise of any Right or Option, the Fair Market Value of the Stock at the
time of such exercise and (ii) in the case of any other Award, the highest of: (a) the highest composite daily closing price of
the Stock during the period beginning on the 60th calendar day prior to the Change of Control and ending on the date of such
Change of Control, (b) the highest gross price paid for the Stock during the same period of time, as reported in a report on
Schedule 13D filed with the Securities and Exchange Commission, or (c) the highest gross price paid or to be paid for a
share of Stock (whether by way of exchange, conversion, distribution upon merger, liquidation or otherwise) in any of the
transactions set forth in Section 9 of the Plan as constituting a Change of Control.
“Incentive Stock Option” means a stock option qualified under Section 422 of the Code.
“Key Employee” means an Eligible Employee (including any officer or director who is also an Eligible Employee)
whose responsibilities and decisions, in the judgment of the Committee, directly affect the performance of the Company and
its subsidiaries.
“Option” means an option awarded under Section 5 of the Plan to purchase Stock of the Company, which option may
be an Incentive Stock Option or a non-qualified stock option.
Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009