The Hartford 2008 Annual Report Download - page 728

8.4 No Employment Rights. The Plan shall not, directly or indirectly, create in any Key Employee any right with respect to
continuation of employment with any of the Participating Companies or to the receipt of any Eligible Compensation or other
compensation. The Plan shall not interfere in any way with the rights of the applicable Participating Company to terminate,
or otherwise modify, the employment of any Key Employee or its compensation policies at any time.
8.5 Rights Not Transferable . The rights of a Participant under the Plan shall not be sold, exchanged, transferred, pledged,
hypothecated or otherwise disposed of, other than (A) by will, (B) by the laws of descent or distribution, or (C) pursuant to a
qualified domestic relations order as defined in the Internal Revenue Code of 1986, as amended, provided that the rights of
any transferee of a Participant shall not be greater than the rights of the Participant hereunder. The foregoing restriction shall
be in addition to any restrictions imposed by applicable law on a Participant’s ability to dispose of any rights under the Plan.
8.6 Effect of Plan. The provisions of the Plan shall be binding upon all successors and assigns of a Participant, including
without limitation the Participant’s estate and the executors, administrators or trustees thereof, heirs and legatees, and any
receiver, trustee in bankruptcy or representative of creditors of the Participant.
8.7 Administrative Expenses. An annual charge to each Participant’s Account of up to 0.25% of the total amount credited
to such Account shall be charged and applied to satisfy expenses reasonably incurred in connection with the administration
of the Plan (as determined in the sole discretion of the Plan Administrator).
8.8 Amendment and Termination of the Plan . The Board of Directors or the Committee (acting on behalf of the Board of
Directors) may amend or terminate the Plan or any Participant elections hereunder at any time. The Committee may at any
time amend or terminate the Plan or any Participant elections hereunder if the Committee determines in its sole discretion
that The Hartford will recognize income for income tax purposes with respect to any reserves accumulated under any life
insurance policy obtained with respect to any Participant hereunder. The Committee or the Plan Administrator may amend
the Plan to the extent (A) required by applicable law or regulation, or (B) required to maintain a favorable tax status for the
Plan. Except as may be necessary to comply with a change in law or to avoid any payments hereunder being subject to an
additional tax under Section 409A of the Code, the Plan shall not be amended, modified, suspended or terminated during the
period in which a Change of Control is threatened. For purposes of the preceding sentence, a Change of Control shall be
deemed to be threatened for the period beginning on the date of any Potential Change of Control, and ending upon the
earlier of: (I) the second anniversary of the date of such Potential Change of Control, (II) the date a Change of Control
occurs, or (III) the date the Board of Directors or the Committee determines in good faith that a Change of Control is no
longer threatened. Further, notwithstanding anything in this Plan to the contrary, no amendment, modification, suspension or
termination following a Change of Control shall adversely impair or reduce the rights of any person with respect to any
amounts previously deferred under the Plan without the consent of such person.
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Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009