The Hartford 2008 Annual Report Download - page 632

5. Compensation.
(a) Base Salary. During the Employment Period, the Company and/or the Subsidiaries shall pay Executive a
base salary at an annual rate no less than the annual rate in effect immediately prior to the Effective Date.
Such base salary shall be reviewed at least once during each calendar year of the Employment Period, and
may be increased at any time and from time to time by action of the Board or any appropriate committee
thereof or any individual having authority to take such action in accordance with the Company’s regular
practices, but shall not be reduced below the annual rate in effect immediately prior to the Effective Date.
Executive’s base salary, as it may be increased from time to time, shall be referred to herein as “Base
Salary.” Neither the Base Salary nor any increase in Base Salary after the Effective Date shall serve to limit
or reduce any obligation of the Company hereunder.
(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 no less than the percentage of Executive’s Base Salary used to calculate such bonus immediately
prior to the Effective Date. Executive’s annual bonus opportunity, as it may be increased from time to time
during the Employment Period, shall be referred to herein as “Target Bonus.” The actual bonus, if any,
payable for any calendar year during the Employment Period 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,
deferred restricted stock or savings plan or other similar arrangement maintained or established by the
Company or its affiliates and made available to Executive, any annual bonus payable under this Section 5(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 Executive’s participation in such programs immediately prior to the Effective Date, or, if
more favorable to the Executive, at the level made available to Executive or other similarly situated
executives at any time thereafter.
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Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009