The Hartford 2008 Annual Report Download - page 548

(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 that is available to Tier 1
executives, and (ii) each applicable 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.
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Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009