The Hartford 2008 Annual Report Download - page 698

(iii) If the Key Employee shall be terminated for cause as determined by the Committee, all of such Key
Employee’s Options or Rights outstanding at the date of such termination (whether or not then exercisable) shall be canceled
without further action by the Key Employee, the Committee or the Company coincident with the effective date of such
termination.
(iv) Except as provided in Section 5(g)(ii) and Section 9, if a Key Employee’s employment terminates for any
other reason (including a voluntary resignation), he or she may exercise his or her Options or Rights, to the extent that he or
she shall have been entitled to do so at the date of the termination of his or her employment, at any time, or from time to
time, within four months after the date of the termination of his or her employment, or within such other period, and subject
to such terms and conditions, as the Committee may specify, but not later than the expiration date specified in Section 5(c)
above. All Options and Rights held by such Key Employee or any of his or her assigns that are not eligible to be exercised
upon the date of such termination shall be canceled without further action by the Key Employee, the Committee or the
Company coincident with the effective date of such termination.
(v) Any Options or Rights not exercised within the period established in accordance with this Section 5(g) shall be
subject to Section 5(l) herein.
(h) Except as provided in this Section 5(h) or required by applicable law, no Option or Right granted under the Plan
shall be transferable other than upon the death of the recipient of such Option or Right. During the lifetime of the optionee,
an Option or Right shall be exercisable only by the Key Employee or Director to whom the Option or Right is granted.
Notwithstanding the foregoing, all or a portion of a non-qualified Option or Right may be transferred and assigned by such
persons designated by the Committee, to such persons or groups of persons designated as permissible Transferees by the
Committee, and upon such terms and conditions as the Committee may from time to time authorize and determine in its sole
discretion. Notwithstanding the preceding sentence, no Award under the Plan may be transferred for value (as defined in the
General Instructions to Form S-8 with respect to the registration, pursuant to the Securities Act of 1933, of employee benefit
plan securities and/or interests).
(i) Except as provided in Section 9, if a Director’s service on the Board terminates for any reason, including without
limitation, termination due to death, disability or retirement, such Director (or Beneficiary, in the event of death) may
exercise any Option or Right granted to him or her only to the extent determined by the Committee as set forth in such
Director’s Award Document and/or any administrative rules or other terms and conditions adopted by the Committee from
time to time applicable to such Option or Right granted to such Director.
Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009