The Hartford 2014 Annual Report Download - page 263

“Net After-Tax Receipt” means the Present Value of a payment net of all taxes imposed with respect thereto under
Sections 1 and 4999 of the Code, under applicable state and local laws, and for Social Security, Medicare or other
employment tax purposes, determined by applying the highest marginal rate under Section 1 of the Code and under
state and local laws that applied to your taxable income for the immediately preceding taxable year, or such other rate(s)
as you shall certify as likely to apply to you in the relevant tax year(s).
"Present Value" means such value as determined in accordance with Sections 280G(b)(2)(A)(ii) and 280G(d)(4) of the
Code.
"Reduced Amount" means the smallest amount of Plan payments that (i) has a Present Value that is less than the
Present Value of all Plan payments, and (ii) results in aggregate Net After-Tax Receipts for all payments that are greater
than the Net After-Tax Receipts for all payments that would result if the aggregate Present Value of Plan payments
were any other amount that is less than the Present Value of all Plan payments.
“Termination For Cause” For purposes of this Section 11 only, a Termination For Cause is limited to the following: a
termination of your employment due to (1) a felony conviction; (2) an act or acts of dishonesty or gross misconduct on
your part that result or are intended to result in damage to the Company’s business or reputation; or (3) repeated
violations of your obligations to devote your full attention during normal business hours to the business and affairs of
the Company and to use your best efforts to perform faithfully and efficiently the responsibilities assigned to you except
for time away from work authorized by Company policy or state or federal law, which violations are demonstrably
willful and deliberate on your part and which result in damage to the Company's business or reputation.
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