The Hartford 2008 Annual Report Download - page 660

(d) At the beginning of a Performance Period, the Committee shall determine for each Key Employee or group of Key
Employees the number of Performance Shares or the percentage of Performance Shares which shall be paid to the Key
Employee or member of the group of Key Employees if the applicable Performance Objectives are met in whole or in part.
(e) If a Key Employee terminates service with all Participating Companies during a Performance Period because of
death, Total Disability, Retirement, or under other circumstances where the Committee in its sole discretion finds that a
waiver would be in the best interests of the Company; that Key Employee may, as determined by the Committee, be entitled
to payment in settlement of such Performance Shares at the end of the Performance Period based upon the extent to which
the Performance Objectives were satisfied at the end of such period and prorated for the portion of the Performance Period
during which the Key Employee was employed by any Participating Company. If a Key Employee terminates service with
all Participating Companies during a Performance Period for any other reason, then such Key Employee shall not be entitled
to any Award with respect to that Performance Period unless the Committee shall otherwise determine.
(f) Each Award of a Performance Share shall be paid in whole shares of Stock, or cash, or a combination of Stock and
cash either as a lump sum payment or, if the Committee shall so determine at the time of the grant, in annual installments,
with payment to commence as soon as practicable (but in any event within 90 days) after the end of the relevant
Performance Period.
7. RESTRICTED STOCK
(a) Except as provided in Section 9, Restricted Stock shall be subject to a restriction period (after which restrictions will
lapse) which shall mean a period commencing on the date the Award is granted and ending on such date as the Committee
shall determine (the “Restriction Period”). The Committee may provide for the lapse of restrictions in installments where
deemed appropriate and it may also require the achievement of predetermined performance objectives in order for such
shares to vest.
(b) Except when the Committee determines otherwise pursuant to Section 7(d), if a Key Employee terminates
employment with all Participating Companies for any reason before the expiration of the Restriction Period, all shares of
Restricted Stock still subject to restriction shall be forfeited by the Key Employee and shall be reacquired by the Company.
(c) Except as otherwise provided in this Section 7, no shares of Restricted Stock received by a Key Employee shall be
sold, exchanged, transferred, pledged, hypothecated or otherwise disposed of during the Restriction Period.
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Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009