The Hartford 2008 Annual Report Download - page 735

3.3 Election to Participate
A. Payroll Deduction Authorization Form. An Eligible Employee may elect to participate in the Plan by filing a
properly completed authorization form, or such other authorization as the Plan Administrator shall require, with the
party and by the date designated by the Plan Administrator. Such form shall authorize automatic payroll deductions
from a Participant’s Compensation for each pay period commencing on the Offering Commencement Date next
succeeding receipt of the timely filed authorization form by the designated party (or such other date as may be
designated by the Plan Administrator), and continuing until (i) the Participant changes the amount of such payroll
deductions pursuant to Section 3.3(C), (ii) the Participant becomes an ineligible Employee or withdraws from
participation in the Plan pursuant to Article III, (iii) the Plan is suspended or terminated pursuant to Section 7.11, or
(iv) the Committee otherwise determines.
B. Amount of Payroll Deductions. The payroll deductions authorized by the Participant shall be in whole percentages,
not less than 1% and not more than 10% of Compensation, for each pay period, in effect on the date the payroll
deductions to which the authorization form relates are made.
C. Changes in Payroll Deductions. Subject to Section 3.3(B), a Participant may increase or decrease the amount of
payroll deductions previously authorized by filing a properly completed change form, or such other authorization as the
Plan Administrator shall require, with the party and by the date designated by the Plan Administrator. Such change
shall be made in whole percentages of Compensation, and shall be effective beginning on the Offering Commencement
Date next succeeding the receipt of the timely filed change form by the designated party (or such other date as may be
designated by the Plan Administrator).
D. Participant’s Account. The Company shall maintain payroll deduction Accounts for all Participants. Payroll
deductions made from a Participant’s Compensation shall be credited to the Participant’s Account with respect to those
payroll dates taking place during the applicable Offering Period, and shall be applied for the purchase of Shares
pursuant to Article IV. No interest shall be paid or allowed on any payroll deductions credited to a Participant’s
Account.
3.4 Withdrawal From Participation
A. In General. A Participant may at any time withdraw from participation in the Plan by filing a properly completed
withdrawal form, or such other authorization as the Plan Administrator shall require, with the party and by the date
designated by the Plan Administrator. As soon as practicable after receipt of the timely filed withdrawal form by the
designated party, no further payroll deductions shall be made from the Participant’s Compensation and no Options shall
be granted to the Participant during any Offering commencing thereafter, unless the Participant elects again to
participate in the Plan pursuant to Section 3.3. If such withdrawal form is received by the designated party prior to the
last month of a particular Offering period, then all payroll deductions at that time credited to the Participant’s Account
which have not already been applied for the purchase of Shares hereunder shall be repaid to the Participant. If such
withdrawal form is received by the designated party in the last month of a particular Offering period, then all payroll
deductions at that time credited to the Participant’s Account which have not already been applied for the purchase of
Shares hereunder shall be applied to the purchase of Shares at the end of such Offering period in accordance with the
Plan.
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Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009