The Hartford 2008 Annual Report Download - page 723

5.4 Debiting of Administrative Expenses. The Participant’s allocable share (as determined by the Plan Administrator) of
any administrative expenses related to the operation of the Plan shall be debited from the Participant’s Account as of each
monthly Valuation Date.
5.5 Vesting of Credited Amounts . The rights of a Participant in regard to the amounts credited to the Participant’s Account
hereunder shall be fully vested at all times.
ARTICLE VI
DISTRIBUTIONS FROM PARTICIPANT ACCOUNTS
6.1 Distribution Election. A Participant may elect, by filing a properly completed election form (or such other authorization
as the Plan Administrator may require), not later than the end of the calendar year prior to the year in which the services
which relate to the compensation to be deferred commence to be performed (or, in respect of performance-based
compensation, not later than six months prior to the end of the performance period in respect of the performance-based
compensation) to have all or a portion of the amount credited to the Participant’s Account distributed to him or her on a date
and in a manner permitted by the Plan Administrator; provided, however, that the Plan Administrator may permit elections
to be made prior to 2009 in accordance with any applicable transition rules established under Section 409A of the Code.
With respect to any Excess Contributions, if the Participant has timely elected a distribution in respect of all or any portion
of his Account that provides for a distribution following separation from service, such election shall be deemed also to apply
to such Excess Contributions, to the extent that it would have been timely made (including giving effect to any applicable
transition rule) in respect of such Excess Contributions. In the absence of an effective and timely election as to all or any
portion of the Participant’s Account related to Excess Contributions, a Participant shall be deemed to have elected to receive
such portion of his or her Account as of the fifth business day of the month following his or her separation from service, in
the same manner as though Section 6.3(A) applied to such distribution. Except as otherwise expressly provided in this
Section 6, distributions from a Participant’s Account shall be made in accordance with the date(s) of distribution and manner
of payment elected or deemed elected by the Participant. A Participant who does not timely submit a properly completed
election form pertaining to the distribution of all or any portion of his or her Account shall be deemed to have elected such
portion of his or her Account be distributed in a lump sum at the time and in the manner specified in Section 6.3(A). Unless
the Plan Administrator shall permit additional elections as to future deferrals in accordance with the applicable requirements
of this Section 6.1 and Section 409A of the Code, any election made or deemed made by a Participant hereunder shall apply
to all future deferrals (to the extent made on a timely basis (after giving effect to any applicable transition rule under
Section 409A) to apply to such deferrals) and, to the extent made or deemed made in accordance with the Code
Section 409A transition rules, any amounts theretofore credited to such Account. Unless and solely to the extent permitted
by the Plan Administrator in accordance with the requirements of Section 409A of the Code, any election hereunder shall be
irrevocable.
For purposes of the Plan, a Participant shall be deemed to have had a termination of employment or service at such time as
the Participant has a separation from service. A Participant separates from service when the Participant either stops working,
or when the level of services provided — whether as an employee or as an independent contractor — permanently decreases
to no more than 20% of the average level of services provided during the prior 36 months. Separation from service shall be
determined in accordance with policies or practices that The Hartford shall adopt in accordance with, or as otherwise
determined pursuant to, 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