The Hartford 2008 Annual Report Download - page 521

(b) Annual Bonus. For each calendar year ending during the Employment Period, Executive shall have the
opportunity to earn and receive an annual bonus, based on the achievement of target levels of performance, equal
to the percentage of his Base Salary used to calculate such annual bonus as of the date hereof. Executive’s annual
bonus opportunity may be increased above such percentage from time to time by the Board or the appropriate
committee thereof. Executive’s annual bonus opportunity shall not be reduced following any Change of Control,
but may be reduced prior to a Change of Control solely pursuant to a cost-saving plan or structural realignment of
total compensation elements that includes all senior executives and only to the extent that such reduction is
proportionate to the reductions applicable to other senior executives. Executive’s annual bonus opportunity, as it
may be increased or reduced from time to time as provided herein, shall be referred to herein as “Target Bonus.”
The actual bonus, if any, payable for any such year shall be determined in accordance with the terms of the
Company’s Annual Executive Bonus Program or any successor annual incentive plan (the “Annual Plan”) based
upon the performance of the Company and/or its applicable affiliates and/or Executive against target objectives
established under such Annual Plan. Subject to Executive’s election to defer all or a portion of any annual bonus
payable hereunder pursuant to the terms of any deferred compensation or savings plan or arrangement maintained
or established by the Company or its affiliates, any annual bonus payable under this Section 3(b) shall be paid to
Executive in accordance with the terms of the Annual Plan.
(c) Long-term Incentive Compensation. During the Employment Period, Executive shall participate in all of the
Company’s existing and future long-term incentive compensation programs for key executives at a level
commensurate with his position with the Company and consistent with the Company’s then current policies and
practices, as determined in good faith by the Board or the appropriate committee of the Board.
4. Benefits, Perquisites and Expenses.
(a) Benefits. During the Employment Period, Executive (and, to the extent applicable, his dependents) shall be
eligible to participate in or be covered under (i) each welfare benefit plan or program maintained or as hereafter
amended or established by the Company or its applicable affiliates, including, without limitation, each group life,
hospitalization, medical, dental, health, accident or disability insurance or similar plan or program of thereof, and
(ii) each pension, retirement, savings, deferred compensation, stock purchase or other similar plan or program
maintained or as hereafter amended or established by the Company or its applicable affiliates, in each case to the
extent that Executive is eligible to participate in any such plan or program under the generally applicable
provisions thereof. Nothing in this Section 4(a) shall limit the Company’s right to amend or terminate any such
plan or program in accordance with the procedures set forth therein or as permitted by applicable law.
(b) Perquisites. For each calendar year during the Employment Period, Executive shall be entitled to at least the
number of paid vacation days per year that Executive is entitled to as of the date hereof, and shall also be entitled
to receive such other perquisites as are generally provided to him as of the date hereof or are hereafter provided to
other similarly situated senior executives of the Company in accordance with the then current policies and
practices of the Company.
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Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009