The Hartford 2008 Annual Report Download - page 720

3.2 Form of Election. The election form filed by a Participant pursuant to this Article III shall (A) identify a portion of the
Participant’s Eligible Compensation that may become payable with respect to the Participant’s services, (B) contain the
Participant’s election to defer the payment of such portion of such Eligible Compensation in accordance with the terms of
the Plan, and (C) contain such other information as the Plan Administrator may require.
3.3 Maximum and Minimum Amounts Required for Participation . The Committee or the Plan Administrator may
designate a maximum and a minimum portion of the Eligible Compensation of a Key Employee or Director, in terms of a
percentage or other amount thereof, as to which an election may be made hereunder.
3.4 Nullification of Election. Notwithstanding anything herein to the contrary, any election made by a Key Employee or
Director hereunder shall be deemed null and void to the extent that (A) the Eligible Compensation as to which the election
applies is designated by the Committee, in its sole discretion, as not payable to such Key Employee, or (B) such election
applies to Eligible Compensation payable during the six month period during which the Key Employee ceases savings under
the Investment and Savings Plan as a result of receiving a hardship withdrawal under that Plan.
3.5 Establishment of Participant Accounts. Up to a maximum number of Accounts (as permitted by the Committee or the
Plan Administrator, and elected by the Participant) shall be maintained on behalf of each Participant on the books of The
Hartford. Amounts shall be credited to or debited from a Participant’s Account as provided in Article V. The Plan
Administrator shall cause each Participant’s Account to be valued on the applicable Valuation Date, and shall cause records
indicating such value to be maintained. When an event requires a determination of the value of a Participant’s Account, such
value shall be determined as of the Valuation Date coincident with or immediately preceding the date of such event, unless
otherwise required by the Plan. The value of a Participant’s Account shall be reported to the Participant from time to time as
determined appropriate by the Plan Administrator.
3.6 Obtaining of Life Insurance Policies. As a condition of participation hereunder, the Committee may require that a
Participant provide assistance in obtaining a life insurance policy on the life of such Participant, such policy to be solely
owned by, and solely payable to, The Hartford (or such other entity as may be designated by the Committee). Such
Participant may be required to (A) complete an application for life insurance, (B) furnish underwriting information
(including but not limited to submitting to medical examinations by an insurance company approved examiner),
(C) authorize the release of the Participant’s medical history to an insurance company underwriter, and (D) provide such
other information and take such other actions relating to such life insurance policy as may be required by the Plan
Administrator. A Participant as to whom a life insurance policy is obtained hereunder shall have no right to or interest in
such policy or the proceeds thereof.
3.7 Termination of Participation. The participation of a Participant in the Plan shall terminate on the earlier of (A) the date
that all amounts credited to the Participant’s Account have been distributed pursuant to the Plan, (B) the date of termination
of the Plan, or (C) such other date as may be designated by the Committee consistent with Section 409A of the Code and the
regulations and guidance promulgated thereunder.
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Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009