The Hartford 2008 Annual Report Download - page 776

7.3 Method of Determining Value of Amounts Credited to Accounts . At the end of each business day in which the Plan
is in effect and operation, the amount of credit of a Member or Deferred Member in each of the funds shall be expressed and
credited to the Accounts of such Member or Deferred Member using the unit accounting method, a method of participant
accounting under which all balances are carried as “units,” which are multiplied by a unit value to give the actual cash value.
For purposes of Article Eight, the interest of a Member or Deferred Member in The Hartford Stock Fund and shall be
converted into a number of shares of The Hartford Stock as of any particular time, by dividing the value of all shares of
Stock in the applicable Fund by the value of the interest of the Member or Deferred Member in the Fund at such time. The
resulting number of shares of Stock shall be deemed allocated to such Member.
7.4 Valuation of The Hartford Stock . For the purpose of determining the value of The Hartford Stock hereunder, in the
event such Stock is traded on a national securities exchange, such Stock shall be valued at the closing price of such Stock on
the New York Stock Exchange composite tape on the business day such Stock is delivered to the Trustee. In the event such
Stock is not traded on a national securities exchange, such Stock shall be valued in good faith by an independent appraiser
selected by the Trustee and meeting requirements similar to those in the regulations prescribed under Code
Section 170(a)(1).
7.5 Asset Valuation; Allocation of Gains and Losses . At the end of each business day, the Trustee shall (A) determine the
total fair market value of all assets then held by it in each Investment Fund, (B) determine the gain or loss in the value of
such assets, and (C) allocate such gain or loss pro rata by fund to the balances credited to the Accounts of all Members and
Deferred Members as of such day.
7.6 Dividends Paid with Respect to The Hartford Stock.
(A) Dividend Election. A Member or Deferred Member may elect, with respect to a dividend paid on The Hartford
Stock that is allocated to the Member’s or Deferred Member’s Accounts as of the ex-dividend date of such dividend, to
have the dividend either distributed in cash to the Member or Deferred Member or reinvested in shares of The Hartford
Stock in The Hartford Stock Fund. The Plan Administrator shall prescribe rules regarding the timing and manner of a
dividend election.
(B) Default Election. In the absence of an affirmative dividend election, the Member or Deferred Member shall be
deemed to have elected to have the dividend reinvested in The Hartford Stock.
(C) Effect and Duration of Election. An election made in accordance with subsections (A) or (B), shall remain in
effect until changed by the Member or Deferred Member in accordance with the rules established by the Plan
Administrator. The election shall apply to all dividends with an ex-dividend date after the election date. A Member or
Deferred member may change his or her dividend election at any time in the manner prescribed by the Plan
Administrator.
(D) Cash Payment. Dividends elected to be paid in cash shall be distributed to the Member or Deferred Member as
soon as administratively practicable after the dividend is received by the Trustee in the Trust Fund. The amount of cash
dividends distributed shall be reduced by the amount of any losses attributable to such dividends while held in the Trust
Fund. No earnings attributable to such dividends shall be distributed.
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Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009