The Hartford 2008 Annual Report Download - page 727

ARTICLE VIII
MISCELLANEOUS
8.1 Unfunded and Unsecured Plan. The Plan shall be unfunded and unsecured for tax purposes and for purposes of
ERISA. The Hartford shall have no obligation to fund its liabilities, if any, under the Plan. Nothing in the Plan and no action
taken by The Hartford or its agents hereunder shall be construed to create a trust of any kind, or a fiduciary relationship
between The Hartford and any other person or entity. All funds or other assets received or held by The Hartford pursuant to
or in connection with the Plan may be used by The Hartford for any corporate purpose, and The Hartford shall not be
obligated to segregate such amounts from its general assets. No Participant or any other person or entity shall have any claim
against The Hartford or its assets other than as an unsecured and unsubordinated general creditor of The Hartford. Without
limiting the generality of the foregoing, a Participant’s claim hereunder shall at any time be solely for the amount then
credited to the Participant’s Account. Notwithstanding the foregoing, The Hartford may establish a grantor trust or purchase
securities or take any other action deemed appropriate to assist The Hartford in meeting its obligations under the Plan,
provided, however, that in no event shall any person or entity have any right to or interest in such trust or property by reason
of the Plan.
8.2 Absence of Representations. The Plan shall not be construed to provide any representation or guarantee by The
Hartford that any particular income or other tax consequence will result from a Participant’s participation in the Plan. Each
Participant shall be deemed to have consulted with his or her professional tax advisor to determine the tax consequences of
participation hereunder. The Plan shall not be construed to provide any representation or guarantee by The Hartford that any
particular amount of a Participant’s Account allocated to any of the Hypothetical Investment Funds hereunder will result in
any particular investment experience related thereto, and The Hartford shall in no event be required to pay any amount to
any person or entity on account of any loss suffered by reason of the operation of the Plan.
8.3 Tax Withholding. The Plan Administrator shall have the right to make such provisions as deemed appropriate in its sole
discretion to satisfy any obligation of a Participating Company to withhold federal, state or local income or other taxes
incurred by reason of the operation of the Plan or an Award under the Plan, including but not limited to at any time
(i) requiring a Key Employee to submit payment to a Participating Company for such taxes before making settlement of any
amount due under the Plan, (ii) withholding such taxes from wages or other amounts due to the Key Employee before
making settlement of any amount due under the Plan, or (iii) receiving shares of common stock of The Hartford already
owned by the Key Employee or withholding such shares otherwise due to the Key Employee in an amount determined
necessary to satisfy such withholding obligations; provided, however, that, notwithstanding any language herein to the
contrary, any Key Employee who is an executive officer of The Hartford (within the meaning of Section 16 of the Act) shall
have the right to satisfy his or her obligations to The Hartford pursuant to this Section 8.3 by instructing The Hartford not to
deliver to the Key Employee common stock of The Hartford otherwise deliverable to the Key Employee in an amount
sufficient to satisfy such obligations to The Hartford.
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Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009