The Hartford 2008 Annual Report Download - page 602

(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/her 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/her 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/her 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 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.
(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 a Tier 1 Executive is entitled to as of the date hereof, and shall also be
entitled to receive such other perquisites as are generally provided to similarly situated Tier 1 executives as of the date
hereof or are hereafter provided to other similarly situated Tier 1 senior executives of the Company in accordance with
the then current policies and practices of the Company.
3
Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009