Document:

exv4w4

Exhibit 4.4

GLOBAL SECURITY

UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY,
A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE
OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND
IS REGISTERED IN THE NAME OF DTC OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE
OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE
REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN DTC OR SUCH NOMINEE, EXCEPT IN THE LIMITED
CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

THE HARTFORD FINANCIAL SERVICES GROUP, INC.

6.625% Senior Note due March 30, 2040

CUSIP: 416515 BA1

      

			
	No. R-1
	 	$300,000,000

     THE HARTFORD FINANCIAL SERVICES GROUP, INC., a corporation organized and existing under the
laws of Delaware (hereinafter called the “Company”, which term includes any successor corporation
under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede &
Co., or registered assigns, the principal sum of THREE HUNDRED MILLION U.S. Dollars on March 30,
2040, and to pay interest thereon from March 23, 2010 or from the most recent Interest Payment Date
to which interest has been paid or duly provided for, semi-annually in arrears on March 30 and
September 30 in each year, commencing September 30, 2010, at the rate of 6.625% per annum, on the
basis of a 360-day year consisting of twelve 30-day months, until the principal hereof is paid or
duly provided for or made available for payment, and (to the extent that the payment of such
interest shall be legally enforceable) at the rate of 6.625% per annum on any overdue principal and
premium and on any overdue installment of interest.

     The interest so payable, and punctually paid or duly provided for, on any Interest Payment
Date will, as provided in the Indenture, be paid to the Person in whose name this Security (or one
or more Predecessor Securities) is registered at the close of business on the Regular Record Date
for such interest, which shall be the March 15 or September 15 (whether or

1

 

not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such
interest not so punctually paid or duly provided for will forthwith cease to be payable to the
Holder on such Regular Record Date and may either be paid to the person in whose name this Security
(or one or more Predecessor Securities) is registered at the close of business on a Special Record
Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be
given to Holders of Securities of this series not less than 10 days prior to such Special Record
Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of
any securities exchange on which the Securities of this series may be listed, and upon such notice
as may be required by such exchange, all as more fully provided in said Indenture.

     Payment of the principal of (and premium, if any) and any interest on this Security will be
made at the office or agency of the Company maintained for that purpose in The City of New York, in
such coin or currency of the United States of America as at the time of payment is legal tender for
payment of public and private debts; provided, however, that at the option of the
Company payment of interest may be made by check mailed to the address of the Person entitled
thereto as such address shall appear in the Security Register.

     Reference is hereby made to the further provisions of this Security set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at
this place.

     Unless the certificate of authentication hereon has been executed by the Trustee referred to
on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under
the Indenture or be valid or obligatory for any purpose.

     Any additional Securities issued under the same CUSIP as this Security shall be fungible with
this Security for U.S. federal income tax purposes.

     IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed as of the date
below.

Dated: March 23, 2010

	 	 	 	 	 
	 	THE HARTFORD FINANCIAL 

SERVICES GROUP, INC.

 	 
	                                                       
	 	By:  	/s/
JOHN N. GIAMALIS	 
	 	 	Name:  	John N. Giamalis	 
	 	 	Title:  	Senior Vice President and Treasurer	 

2

 

	 	 	 	 	 

Certificate of Authentication

     This is one of the Securities referred to in the within-mentioned Indenture.

Dated: March 23, 2010

	 	 	 	 	 
	 	The Bank of New York Mellon Trust Company, 

N.A., as Trustee

 	 
	 	By:  	/s/
MARY CALLAHAN	 
	 	 	Authorized Signatory 	 
	 	 	 	 

3

 

	 	 	 	 	 

REVERSE OF SECURITY

     This Security is one of a duly authorized issue of securities of the Company (herein called
the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of
April 11, 2007 as supplemented and amended from time to time (herein called the “Indenture”),
between the Company and The Bank of New York Mellon Trust Company, N.A. (formerly known as The Bank
of New York Trust Company, N.A.), as Trustee (herein called the “Trustee”, which term includes any
successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto
reference is hereby made for a statement of the respective rights, limitations of rights, duties
and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the
terms upon which the Securities are, and are to be, authenticated and delivered. This Security is
one of the series designated on the face hereof, initially limited in aggregate principal amount to
$300,000,000.

     All terms used in this Security that are defined in the Indenture shall have the meaning
assigned to them in the Indenture.

     The Company shall have the right, at its option, to redeem this Security, at any time in
whole, or from time to time in part, in multiples of $1,000, at a redemption price equal to the
greater of:

     1. 100% of the principal amount of the Securities of this series to be redeemed; or

     2. the sum of the present values of the remaining scheduled payments of principal and interest
on the Securities of this series to be redeemed (exclusive of interest accrued to the Redemption
Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting
of twelve 30-day months) at the then current Treasury Rate plus 30 basis points.

     In each case, the Company shall pay accrued and unpaid interest on the principal amount being
redeemed to the Redemption Date.

     “Comparable Treasury Issue” means the United States Treasury security selected by an
Independent Investment Banker as having a maturity comparable to the remaining term (“Remaining
Life”) of the Securities of this series to be redeemed that would be utilized, at the time of
selection and in accordance with customary financial practice, in pricing new issues of corporate
debt securities of comparable maturity to the remaining term of such Securities.

     “Comparable Treasury Price” means, with respect to any Redemption Date, (1) the average of the
Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and
lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains
fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations.

     “Independent Investment Banker” means one of the Reference Treasury Dealers that the Company
appoints to act as the Independent Investment Banker from time to time.

1

 

     “Reference Treasury Dealer” means (1) each of Goldman, Sachs & Co., J.P. Morgan Securities
Inc., Citigroup Global Markets Inc., and Credit Suisse Securities (USA) LLC, and their respective
successors, unless any of them ceases to be a primary U.S. Government securities dealer in New York
City (a “Primary Treasury Dealer”), in which case the Company shall substitute another Primary
Treasury Dealer and (2) any other Primary Treasury Dealer selected by the Company.

     “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer
and any Redemption Date, the average, as determined by the Independent Investment Banker, of the
bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of
its principal amount) quoted in writing to the Independent Investment Banker by such Reference
Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such
Redemption Date.

     “Treasury Rate” means, with respect to any Redemption Date, the rate per year equal to: (1)
the yield, under the heading which represents the average for the immediately preceding week,
appearing in the most recently published statistical release designated “H.15(519)” or any
successor publication which is published weekly by the Board of Governors of the Federal Reserve
System and which establishes yields on actively traded United States Treasury securities adjusted
to constant maturity under the caption “Treasury Constant Maturities,” for the maturity
corresponding to the Comparable Treasury Issue; provided that, if no maturity is within three
months before or after the Remaining Life of the Securities of this series to be redeemed, yields
for the two published maturities most closely corresponding to the Comparable Treasury Issue shall
be determined and the Treasury Rate shall be interpolated or extrapolated from those yields on a
straight line basis, rounding to the nearest month; or (2) if such release (or any successor
release) is not published during the week preceding the calculation date or does not contain such
yields, the rate per year equal to the semiannual equivalent yield to maturity of the Comparable
Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a
percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption
Date. The Treasury Rate shall be calculated on the third Business Day preceding the Redemption
Date.

     Notice of redemption shall be mailed at least 30 but not more than 60 days before the
Redemption Date to each Holder of Securities of this series to be redeemed at its registered
address. The notice of redemption for such Securities shall state, among other things, the amount
of Securities of this series to be redeemed (any unredeemed portion of such Securities to be in a
minimum denomination of $2,000), the Redemption Date, the manner in which the redemption price
shall be calculated and the place or places that payment shall be made upon presentation and
surrender of such Securities to be redeemed. Unless the Company defaults in the payment of the
redemption price together with accrued interest, interest will cease to accrue on any Securities of
this series that have been called for redemption on the Redemption Date. The Company shall notify
the Trustee of the redemption price promptly after the calculation thereof and the Trustee shall
have no responsibility for such calculation.

     In the event of redemption of this Security in part only, a new Security or Securities of this
series for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the
cancellation hereof.

2

 

     Installments of accrued and unpaid interest whose Stated Maturity is on or prior to the
Redemption Date will be payable to the Holders of the Securities of this series, or one or more
Predecessor Securities, registered as such at the close of business on the relevant Regular Record
Dates according to their terms.

     The Indenture contains provisions for satisfaction, discharge and defeasance of the entire
indebtedness on this Security, upon compliance by the Company with certain conditions set forth
therein.

     If an Event of Default with respect to Securities of this series shall occur and be
continuing, the principal of the Securities of this series may be declared due and payable in the
manner and with the effect provided in the Indenture.

     The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the
Securities of each series to be affected under the Indenture at any time by the Company and the
Trustee with the consent of the Holders of a majority in principal amount of the Securities at the
time Outstanding of each series to be affected. The Indenture also contains provisions permitting
the Holders of specified percentages in principal amount of the Securities of each series at the
time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by
the Company with certain provisions of the Indenture and certain past defaults under the Indenture
and their consequences. Any such consent or waiver by the Holder of this Security shall be
conclusive and binding upon such Holder and upon all future Holders of this Security and of any
Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.

     No reference herein to the Indenture and no provision of this Security or of the Indenture
shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay
the principal of (and premium, if any) and interest on this Security at the times, place and rate,
and in the coin or currency, herein prescribed.

     As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Security is registrable in the Security Register, upon surrender of this Security
for registration of transfer at the office or agency of the Company in any place where the
principal of (and premium, if any) and interest on this Security are payable, duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing,
and thereupon one or more new Securities of this series, of authorized denominations and for the
same aggregate principal amount, will be a issued to the designated transferee or transferees.

     The Securities of this series are issuable only in registered form without coupons in
denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in the
Indenture and subject to certain limitations therein set forth, Securities of this series are
exchangeable for a like aggregate principal amount of Securities of this series of a different
authorized denomination, as requested by the Holder surrendering the same.

3

 

     No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge
payable in connection therewith.

     The Company, the Trustee and any agent of the Company or the Trustee may treat the Person in
whose name this Security is registered as the owner hereof for all purposes, whether or not this
Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by
notice to the contrary.

     THIS SECURITY SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK.

4

 

ABBREVIATIONS

     The following abbreviations, when used in the inscription on the face of this instrument,
shall be construed as though they were written out in full according to applicable laws or
regulations:

	 	 	 	 	 	 	 
	 

	 	TEN COM
	 	—
	 	as tenants in common
	 
	 	 	 	 	 	 
	 

	 	TEN ENT
	 	—
	 	as tenants by the entireties
	 
	 	 	 	 	 	 
	 

	 	JT TEN
	 	—
	 	as joint tenants with right of survivorship and not as
tenants in common

	 	 	 	 	 	 	 	 	 	 	 
	 

	 	UNIF GIFT MIN ACT —
	 	 	 	Custodian	 	 	 	 
	 

	 	 	 	(Minor)
	 	 	 	(Cust)	 	 

	 	 	 	 	 
	 

	 	Under Uniform Gifts to Minors Act	 	 
	 

	 	 	 	 
	 

	 	 	 	(State)

Additional abbreviations may also be used though not in the above list.

 

     FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto

	 	 	 
	 
	 

[PLEASE INSERT SOCIAL SECURITY OR OTHER
IDENTIFYING NUMBER OF ASSIGNEE]

	 	 

      

      

      

[PLEASE PRINT OR TYPE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE]

the within Security and all rights thereunder, hereby irrevocably constituting and appointing such
person attorney to transfer such Security on the books of the Company, with full power of
substitution in the premises.

	 	 	 	 	 
	Dated:
	 	 	 	 
	 

	 	 

	 	 

NOTICE: The signature to this assignment must correspond with the name as written upon the face of
the within Security in every particular without alteration or enlargement or any change whatsoever.

5exv4w6

Exhibit 4.6

DEPOSIT AGREEMENT

Dated

March 23, 2010

THE HARTFORD FINANCIAL SERVICES GROUP, INC.

ISSUER

-and-

THE BANK OF NEW YORK MELLON,

AS DEPOSITARY, REGISTRAR AND TRANSFER AGENT

RELATING TO RECEIPTS, DEPOSITARY SHARES AND RELATED

7.25% MANDATORY CONVERTIBLE PREFERRED STOCK, SERIES F

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 1 DEFINITIONS
	 	 	1	 
	 
	 	 	 	 
	ARTICLE 2 FORM OF RECEIPTS, DEPOSIT OF CONVERTIBLE PREFERRED STOCK, EXECUTION AND DELIVERY, TRANSFER, SURRENDER OF RECEIPTS
	 	 	3	 
	 
	 	 	 	 
	SECTION 2.01 Rights, Privileges and Preferences; Form and
Transferability of Receipts
	 	 	4	 
	 
	 	 	 	 
	SECTION 2.02 Deposit of Convertible Preferred Stock; Execution and
Delivery of Receipts in Respect Thereof
	 	 	6	 
	 
	 	 	 	 
	SECTION 2.03 No Redemption of Convertible Preferred Stock for Cash
	 	 	7	 
	 
	 	 	 	 
	SECTION 2.04 Registration and Transfer of Receipts
	 	 	8	 
	 
	 	 	 	 
	SECTION 2.05 Combinations and Split-ups of Receipts
	 	 	8	 
	 
	 	 	 	 
	SECTION 2.06 Surrender of Receipts and Withdrawal of Convertible
Preferred Stock
	 	 	8	 
	 
	 	 	 	 
	SECTION 2.07
Limitations on Execution and Delivery, Transfer, Split-up.
Combination, Surrender and Exchange of Receipts
	 	 	9	 
	 
	 	 	 	 
	SECTION 2.08 Lost Receipts, etc
	 	 	10	 
	 
	 	 	 	 
	SECTION 2.09 Cancellation and Destruction of Surrendered Receipts
	 	 	10	 
	 
	 	 	 	 
	SECTION 2.10 Conversion at the Option of Holders
	 	 	10	 
	 
	 	 	 	 
	SECTION 2.11 Fractional Shares
	 	 	13	 
	 
	 	 	 	 
	SECTION 2.12 No Pre-Release
	 	 	13	 
	 
	 	 	 	 
	ARTICLE 3 CERTAIN OBLIGATIONS OF HOLDERS OF RECEIPTS AND THE COMPANY
	 	 	14	 
	 
	 	 	 	 
	SECTION 3.01 Filing Proofs, Certificates and Other Information
	 	 	14	 
	 
	 	 	 	 
	SECTION 3.02 Payment of Fees and Expenses
	 	 	14	 
	 
	 	 	 	 
	SECTION 3.03 Representations and Warranties as to Convertible Preferred
Stock
	 	 	14	 
	 
	 	 	 	 
	SECTION 3.04 Representation and Warranty as to Receipts and Depositary
Shares
	 	 	14	 
	 
	 	 	 	 
	SECTION 3.05 Taxes
	 	 	15	 
	 
	 	 	 	 
	SECTION 3.06 Listing
	 	 	15	 
	 
	 	 	 	 
	ARTICLE 4 THE CONVERTIBLE PREFERRED STOCK; NOTICES
	 	 	15	 
	 
	 	 	 	 
	SECTION 4.01 Cash Distributions
	 	 	15	 

i

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	Page	 
	SECTION 4.02 Distributions Other Than Cash
	 	 	16	 
	 
	 	 	 	 
	SECTION 4.03 Subscription Rights, Preferences or Privileges
	 	 	17	 
	 
	 	 	 	 
	SECTION 4.04 Notice of Dividends; Fixing of Record Date for Holders of
Receipts
	 	 	18	 
	 
	 	 	 	 
	SECTION 4.05 Voting Rights
	 	 	18	 
	 
	 	 	 	 
	SECTION 4.06 Changes Affecting Convertible Preferred Stock and
Reorganization Events
	 	 	19	 
	 
	 	 	 	 
	SECTION 4.07 Inspection of Reports
	 	 	20	 
	 
	 	 	 	 
	SECTION 4.08 Lists of Receipt Holders
	 	 	20	 
	 
	 	 	 	 
	SECTION 4.09 Withholding
	 	 	20	 
	 
	 	 	 	 
	ARTICLE 5 THE DEPOSITARY AND THE COMPANY
	 	 	20	 
	 
	 	 	 	 
	SECTION 5.01 Maintenance of Offices, Agencies and Transfer Books by the
Depositary and the Registrar
	 	 	20	 
	 
	 	 	 	 
	SECTION 5.02 Prevention or Delay in Performance by the Depositary, the
Depositary’s Agents or the Registrar
	 	 	21	 
	 
	 	 	 	 
	SECTION 5.03 Obligations of the Depositary, the Depositary’s Agents, the
Registrar and the Company
	 	 	22	 
	 
	 	 	 	 
	SECTION 5.04 Resignation and Removal of the Depositary; Appointment of
Successor Depositary
	 	 	25	 
	 
	 	 	 	 
	SECTION 5.05 Notices, Reports and Documents
	 	 	26	 
	 
	 	 	 	 
	SECTION 5.06 Indemnification by the Company
	 	 	26	 
	 
	 	 	 	 
	SECTION 5.07 Fees, Charges and Expenses
	 	 	27	 
	 
	 	 	 	 
	ARTICLE 6 AMENDMENT AND TERMINATION
	 	 	27	 
	 
	 	 	 	 
	SECTION 6.01 Amendment
	 	 	27	 
	 
	 	 	 	 
	SECTION 6.02 Termination
	 	 	28	 
	 
	 	 	 	 
	ARTICLE 7 MISCELLANEOUS
	 	 	28	 
	 
	 	 	 	 
	SECTION 7.01 Counterparts
	 	 	28	 
	 
	 	 	 	 
	SECTION 7.02 Exclusive Benefits of Parties
	 	 	28	 
	 
	 	 	 	 
	SECTION 7.03 Invalidity of Provisions
	 	 	29	 
	 
	 	 	 	 
	SECTION 7.04 Notices
	 	 	29	 
	 
	 	 	 	 
	SECTION 7.05 Depositary’s Agents
	 	 	30	 
	 
	 	 	 	 
	SECTION 7.06 Holders of Receipts Are Parties
	 	 	30	 

ii

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	Page	 
	SECTION 7.07 Governing Law
	 	 	30	 
	 
	 	 	 	 
	SECTION 7.08 Inspection of Deposit Agreement and Certificate of
Designations
	 	 	31	 
	 
	 	 	 	 
	SECTION 7.09 Headings
	 	 	31	 
	 
	 	 	 	 
	Exhibit A  —  Form of Face of Receipt; Form of Reverse of Receipt
	 	 	 	 
	 
	 	 	 	 
	Exhibit B  —  Certificate of Designations
	 	 	 	 

iii

 

DEPOSIT AGREEMENT

     DEPOSIT AGREEMENT, dated March 23, 2010, among THE HARTFORD FINANCIAL SERVICES GROUP, INC., a
Delaware corporation, THE BANK OF NEW YORK MELLON, (operating with the service name BNY Mellon
Shareowner Services), a New York banking corporation, as Depositary, and all holders from time to
time of Receipts (as hereinafter defined) issued hereunder.

WITNESSETH:

     WHEREAS, it is desired to provide, as hereinafter set forth in this Deposit Agreement, for the
deposit of shares from time to time of the Company’s Convertible Preferred Stock (as hereinafter
defined) with the Depositary for the purposes set forth in this Deposit Agreement and for the
issuance hereunder of Depositary Shares representing a fractional interest in the Convertible
Preferred Stock deposited and for the execution and delivery of Receipts evidencing Depositary
Shares;

     WHEREAS, the Receipts are to be substantially in the form of Exhibit A annexed to this Deposit
Agreement, with appropriate insertions, modifications and omissions, as hereinafter provided in
this Deposit Agreement;

     WHEREAS, the terms, conditions, and pricing mechanisms upon conversion of the Convertible
Preferred Stock are set forth in the Certificate of Designations attached hereto as Exhibit B; and

     NOW, THEREFORE, in consideration of the premises contained herein, it is agreed by and among
the parties hereto as follows:

ARTICLE 1

DEFINITIONS

     The following definitions shall apply to the respective terms (in the singular and plural
forms of such terms) used in this Deposit Agreement and the Receipts:

     “Board of Directors” shall have the meaning set forth in the Certificate of Designations.

     “Certificate of Designations” shall mean the Certificate of Designations, Preferences and
Rights of 7.25% Mandatory Convertible Preferred Stock, Series F that amends the Amended and
Restated Certificate of Incorporation of the Company, adopted by the Board of Directors of the
Company or a duly authorized committee thereof, establishing and setting forth the rights,
preferences and privileges of the Convertible Preferred Stock, as filed with the Secretary of State
of the State of Delaware on March 23, 2010 and attached hereto as Exhibit B, and as such
certificate may be amended or restated from time to time.

1

 

     “Certificate of Incorporation” shall mean the Company’s Amended and Restated Certificate of
Incorporation, including any certificates of designation, as it may be amended from time to time.

     “close of business” shall mean 5:00 p.m. (New York City time).

     “Common Stock” shall mean the common stock, par value $0.01, of the Company.

     “Company” shall mean The Hartford Financial Services Group, Inc., a Delaware corporation, and
its successors.

     “Conversion Date” shall have the meaning set forth in the Certificate of Designations.

     “Conversion Number” shall have the meaning set forth in Section 2.10.

     “Convertible Preferred Stock” shall mean the Company’s 7.25% Mandatory Convertible Preferred
Stock, Series F, $0.01 par value per share, heretofore validly issued, fully paid and
nonassessable.

     “Deposit Agreement” shall mean this agreement, as the same may be amended, modified or
supplemented from time to time.

     “Depositary” shall mean The Bank of New York Mellon, (operating with the service name BNY
Mellon Shareowner Services) or any successor appointed as depositary pursuant to Section 5.04.

     “Depositary Office” shall mean the designated office of the Depositary at which at any
particular time its business in respect of matters governed by this Deposit Agreement shall be
administered, which at the date of this Deposit Agreement is located at 480 Washington Boulevard,
Jersey City, NJ 07310.

     “Depositary Share” shall mean the security representing a 1/40th fractional
interest in a share of Convertible Preferred Stock deposited with the Depositary hereunder, as
evidenced by the Receipts issued hereunder.

     “Depositary’s Agent” shall mean an agent appointed by the Depositary as provided, and for the
purposes specified, in Section 7.05.

     “Dividend Payment Date” shall have the meaning set forth in the Certificate of Designations.

     “Dividend Period” shall have the meaning set forth in the Certificate of Designations.

     “DTC” means The Depository Trust Company.

     “DTC Receipt” has the meaning set forth in Section 2.01.

2

 

     “Exchange Property” shall have the meaning set forth in the Certificate of Designations.

     “Mandatory Conversion Date” shall have the meaning set forth in the Certificate of
Designations.

     “Officer’s Certificate” shall have the meaning set forth in the Certificate of Designations.

     “open of business” shall mean 9:00 a.m. (New York City time).

     “Person” shall mean any natural person, partnership, joint venture, firm, corporation,
limited liability company, limited liability partnership, unincorporated association, trust or
other entity, and shall include any successor (by merger or otherwise) of the foregoing.

     “Receipt” shall mean a receipt issued hereunder to evidence one or more Depositary Shares,
whether in definitive or temporary form, substantially in the form set forth as Exhibit A hereto.

     “record date” as applied to a Receipt shall mean the date fixed pursuant to Section 4.04.

     “Record holder” or “holder” as applied to a Receipt shall mean the Person in whose name such
Receipt is registered on the books maintained by the Depositary for such purpose.

     “Registrar” shall mean The Bank of New York Mellon (operating with the service name BNY Mellon
Shareowner Services), or any bank or trust company appointed as successor thereto pursuant to
Section 5.04 to register ownership and transfers of Receipts and the deposited Convertible
Preferred Stock.

     “Regular Record Date” shall have the meaning set forth in the Certificate of Designations.

     “Reorganization Event” shall have the meaning set forth in the Certificate of Designations.

     “Securities Act” shall mean the Securities Act of 1933, as amended.

     “Trading Day” shall have the meaning set forth in the Certificate of Designations.

     “Transfer Agent” shall mean The Bank of New York Mellon (operating with the service name BNY
Mellon Shareowner Services), or any bank or trust company appointed as successor thereto pursuant
to Sections 2.02 and 5.04 to transfer the Receipts and the deposited Convertible Preferred Stock.

     “unit of Exchange Property” shall have the meaning set forth in the Certificate of
Designations.

ARTICLE 2

FORM OF RECEIPTS, DEPOSIT OF CONVERTIBLE PREFERRED

3

 

STOCK, EXECUTION AND DELIVERY, TRANSFER, SURRENDER

OF RECEIPTS

     SECTION 2.01 Rights, Privileges and Preferences; Form and Transferability of Receipts.

     A. Rights, Privileges and Preferences. Subject to the terms of this Deposit
Agreement, each holder of a Receipt is entitled, proportionately, to all the rights, preferences
and privileges of the Convertible Preferred Stock represented by the Depositary Shares evidenced by
such Receipt (including the conversion, dividend, voting, and liquidation rights contained in the
Certificate of Designations) and the same proportionate interest in any and all other property
received by the Depositary in respect of such Convertible Preferred Stock and held under this
Deposit Agreement.

     B. Form and Transferability of Receipts. Except as provided herein, if requested by
any holder, definitive Receipts shall be printed and shall be substantially in the form set forth
in Exhibit A annexed to this Deposit Agreement, in each case with appropriate insertions,
modifications and omissions, as hereinafter provided. Pending the preparation of definitive
Receipts, the Depositary, upon, and pursuant to, the written order of the Company delivered in
compliance with Section 2.02 shall be authorized and instructed to, and shall, execute and deliver
temporary Receipts which shall be substantially of the tenor of the definitive Receipts in lieu of
which they are issued and in each case with such appropriate insertions, omissions, substitutions
and other variations as the Persons executing such Receipts may determine (but which do not affect
the rights or duties of the Depositary), as evidenced by their execution of such Receipts. If
temporary Receipts are issued, the Company and the Depositary will cause definitive Receipts to be
prepared without unreasonable delay. After the preparation of definitive Receipts, the temporary
Receipts shall be exchangeable for definitive Receipts upon surrender of the temporary Receipts at
the Depositary Office without charge to the holder. Upon surrender for cancellation of any one or
more temporary Receipts, the Depositary is hereby authorized and instructed to, and shall, execute
and deliver in exchange therefor definitive Receipts representing the same number of Depositary
Shares as represented by the surrendered temporary Receipt or Receipts. Such exchange shall be made
at the Company’s expense and without any charge therefor. Until so exchanged, the temporary
Receipts shall in all respects be entitled to the same benefits under this Deposit Agreement, and
with respect to the Convertible Preferred Stock deposited, as definitive Receipts.

     Receipts shall be executed by the Depositary by the manual or facsimile signature of a duly
authorized signatory of the Depositary; provided, that if a Registrar for the Receipts
(other than the Depositary) shall have been appointed then such Receipts shall also be
countersigned by manual or facsimile signature of a duly authorized signatory of the Registrar. No
Receipt shall be entitled to any benefits under this Deposit Agreement or be valid or obligatory
for any purpose unless it shall have been executed as provided in the preceding sentence. The
Depositary shall record on its books each Receipt executed as provided above and delivered as
hereinafter provided. Receipts bearing the manual or facsimile signature of a duly authorized
signatory of the Depositary who was at any time a proper signatory of the Depositary shall bind the
Depositary, notwithstanding that such signatory ceased to hold such office prior to the execution

4

 

and delivery of such Receipts by the Registrar or did not hold such office on the date of
issuance of such Receipts.

     Receipts shall be in denominations of any number of whole Depositary Shares. All Receipts
shall be dated the date of their issuance.

     Receipts may be endorsed with or have incorporated in the text thereof such legends or
recitals or changes not inconsistent with the provisions of this Deposit Agreement as may be
required by the Depositary and approved by the Company, or which the Company has determined are
required to comply with any applicable law or regulation or with the rules and regulations of any
securities exchange upon which the Depositary Shares may be listed for trading or to conform with
any usage with respect thereto, or to indicate any special limitations or restrictions to which any
particular Receipts are subject, in each case as directed by the Company.

     Title to any Receipt (and to the Depositary Shares evidenced by such Receipt) that is properly
endorsed, or accompanied by a properly executed instrument of transfer, or endorsement shall be
transferable by delivery with the same effect as in the case of a negotiable instrument;
provided, however, that until transfer of a Receipt shall be registered on the
books of the Depositary as provided in Section 2.04, the Depositary may, notwithstanding any notice
to the contrary, treat the record holder thereof at such time as the absolute owner thereof for the
purpose of determining the Person entitled to distributions of dividends or other distributions or
payments with respect to the Convertible Preferred Stock, to exercise any voting, or conversion
rights or to receive any notice provided for in this Deposit Agreement and for all other purposes.

     Notwithstanding the foregoing, the Depositary and the Company will make application to DTC for
acceptance of all of the Receipts for its book-entry settlement system. The Company hereby
appoints the Depositary acting through any authorized officer thereof as its attorney-in-fact, with
full power to delegate, for purposes of executing any agreements, certifications or other
instruments or documents necessary or desirable in order to effect the acceptance of such Receipts
for DTC eligibility. So long as the Receipts are eligible for book-entry settlement with DTC,
unless otherwise required by law, all Depositary Shares to be traded on the New York Stock Exchange
with book-entry settlement through DTC shall be represented by a single receipt (the “DTC
Receipt”), which shall be deposited with DTC (or its custodian) evidencing all such Depositary
Shares and registered in the name of the nominee of DTC (initially expected to be Cede & Co.). The
DTC Receipt shall be in such form and shall bear such legend or legends as may be appropriate or
required by DTC in order for it to accept the Depositary Shares for its book-entry settlement
system. The Bank of New York Mellon or such other entity as is agreed to by DTC may hold the DTC
Receipt as custodian for DTC. Ownership of beneficial interests in the DTC Receipt shall be shown
on, and the transfer of such ownership shall be effected through, records maintained by (i) DTC or
its nominee for such DTC Receipt, or (ii) institutions that have accounts with DTC.

     The DTC Receipt shall be exchangeable for definitive Receipts only if (i) DTC notifies the
Company at any time that it is unwilling or unable to continue to make its book-entry settlement
system available for the Receipts and a successor to DTC is not appointed by the Company
within

5

 

90 days of the date the Company is so informed in writing or (ii) DTC notifies the Company
at any time that it has ceased to be a clearing agency registered under applicable law and a
successor to DTC is not appointed by the Company within 90 days of the date the Company is so
informed in writing. The Company shall provide written notice to the Depositary upon receipt of a
notice described in cause (i) or (ii) of the preceding sentence. Until such written notice is
received by the Depositary, the Depositary may presume conclusively for all purposes that the
events described in clause (i) and (ii) of the first sentence of this paragraph have not occurred.
If the beneficial owners of interests in Depositary Shares are entitled to exchange such interests
for definitive Receipts as the result of an event described in clause (i), or (ii) of the first
sentence of this paragraph, then without unnecessary delay, the Depositary is hereby directed to
and shall provide written instructions to DTC to deliver to the Depositary for cancellation the DTC
Receipt, and the Company shall instruct the Depositary in writing to execute and deliver to the
beneficial owners of the Depositary Shares previously evidenced by the DTC Receipt definitive
Receipts in physical form evidencing such Depositary Shares.

     Notwithstanding any other provision herein to the contrary, delivery of shares of Convertible
Preferred Stock and other property in connection with the withdrawal or conversion of Depositary
Shares will be made through DTC and in accordance with its procedures, unless the holder of the
relevant Receipt otherwise requests and such request is reasonably acceptable to the Depositary and
the Company. Upon any such withdrawal or conversion, if requested by the holder of the relevant
Receipt, the Company shall take any action reasonably requested by DTC in order for the securities
issuable upon conversion or the withdrawn shares of Convertible Preferred Stock, as the case may
be, to be eligible for settlement in DTC’s book-entry system.

     SECTION 2.02 Deposit of Convertible Preferred Stock; Execution and Delivery of Receipts in
Respect Thereof.

     Concurrently with the execution of this Deposit Agreement, the Company is delivering to the
Depositary a certificate or certificates, registered in the name of the Depositary and evidencing
575,000 shares of Convertible Preferred Stock, and from time to time the Company may deposit
additional certificates registered in the name of the Depositary evidencing shares of Convertible
Preferred Stock, in each case properly endorsed or accompanied, if required by the Depositary, by a
duly executed instrument of transfer or endorsement, in form satisfactory to the Depositary,
together with (i) all such certifications as may be required by the Depositary in accordance with
the provisions of this Deposit Agreement and (ii) a written order of the Company directing the
Depositary to execute and deliver to, or upon the written order of, the Person or Persons stated in
such order a Receipt or Receipts for the Depositary Shares representing such deposited Convertible
Preferred Stock registered in such names specified in such written order. Upon receipt of the
aforementioned 575,000 shares of Convertible Preferred Stock and related documentation the
Depositary agrees to hold such deposited Convertible Preferred Stock in an account to be
established by the Depositary at the Depositary Office or at such other office as the Depositary
shall determine. The Company hereby appoints the Registrar as registrar and the Transfer Agent as
transfer agent in each case for the Convertible Preferred Stock deposited hereunder and the
Registrar and the Transfer Agent hereby accept such
appointments and, as such, each will reflect changes in the number of shares (including any

6

 

fractional shares) of deposited Convertible Preferred Stock held by it by notation, book-entry or
other appropriate method; provided that, without limiting the foregoing, any successor
Transfer Agent appointed pursuant to Section 5.04 will also become the Transfer Agent for the
Convertible Preferred Stock deposited hereunder.

     If required by the Depositary, Convertible Preferred Stock presented for deposit by the
Company at any time, whether or not the register of stockholders of the Company is closed, shall
also be accompanied by an agreement or assignment, or other instrument satisfactory to the
Depositary, that will provide for the prompt transfer to the Depositary or its nominee of any
dividend or right to subscribe for additional Convertible Preferred Stock or to receive other
property that any Person in whose name the Convertible Preferred Stock is or has been registered
may thereafter receive upon or in respect of such deposited Convertible Preferred Stock, or in lieu
thereof such agreement of indemnity or other agreement as shall be satisfactory to the Depositary.

     Upon receipt by the Depositary of a certificate or certificates for Convertible Preferred
Stock deposited hereunder, together with the other documents specified above, and upon registering
such Convertible Preferred Stock in the name of the Depositary, the Depositary, subject to the
terms and conditions of this Deposit Agreement, shall execute and deliver to, or upon the order of,
the Person or Persons named in the written order delivered to the Depositary referred to in the
first paragraph of this Section 2.02, a Receipt or Receipts for the number of whole Depositary
Shares representing the Convertible Preferred Stock so deposited and registered in such name or
names as may be requested by such Person or Persons.

     The Depositary shall execute and deliver such Receipt or Receipts at the Depositary Office,
except that, at the request, risk and expense of any Person requesting such delivery, such delivery
may be made at such other place as may be designated by such Person. Other than in the case of
splits, combinations or other reclassifications affecting the Convertible Preferred Stock, or in
the case of dividends or other distributions of Convertible Preferred Stock, if any, there shall be
deposited hereunder not more than the number of shares constituting the Convertible Preferred Stock
as set forth in the Certificate of Designations, as such may be amended. To the extent that the
Company issues shares of Convertible Preferred Stock in excess of the amount set forth in the
Certificate of Designations as of the date hereof (which shares have been validly authorized by the
Company), the Company shall notify the Depositary of such issuance in writing. Unless and until
such notice is received by the Depositary, the Depositary may presume conclusively for all purposes
that the number of shares of Convertible Preferred Stock issued by the Company is not in excess of
the amount set forth in the Certificate of Designations as of the date hereof.

     The Company shall deliver to the Depositary from time to time such quantities of Receipts as
the Depositary may request to enable the Depositary to perform its obligations under this Deposit
Agreement.

     SECTION 2.03 No Redemption of Convertible Preferred Stock for Cash.

     The Convertible Preferred Stock shall not be subject to redemption by the Company or at the
option of any holder of Convertible Preferred Stock.

7

 

     SECTION 2.04 Registration and Transfer of Receipts.

     The Company hereby appoints the Registrar as the registrar and the Transfer Agent as the
transfer agent for the Receipts and the Registrar and Transfer Agent hereby accept such
appointments and, as such, each shall register on its books from time to time transfers of Receipts
upon any surrender thereof by a holder in person or by a duly authorized attorney, agent or
representative properly endorsed or accompanied by a properly executed instrument of transfer or
endorsement, together with evidence of the payment by the applicable party of any taxes or charges
as may be required by law. Upon such surrender, the Depositary shall execute a new Receipt or
Receipts and deliver the same to or upon the order of the Person entitled thereto evidencing the
same aggregate number of Depositary Shares evidenced by the Receipt or Receipts surrendered.
Notwithstanding anything contained in this Deposit Agreement to the contrary, neither the
Depositary, the Transfer Agent nor the Registrar shall have any duty or obligation under any
section of this Deposit Agreement which requires the payment of taxes or charges unless and until
it is satisfied that all such taxes and/or charges have been paid.

     SECTION 2.05 Combinations and Split-ups of Receipts.

     Upon surrender of a Receipt or Receipts at the Depositary Office or such other office as the
Depositary may designate for the purpose of effecting a split-up or combination of Receipts, and
the receipt by it of all necessary information and documents, subject to the terms and conditions
of this Deposit Agreement, the Depositary shall execute and deliver a new Receipt or Receipts in
the authorized denominations requested evidencing the same aggregate number of Depositary Shares
evidenced by the Receipt or Receipts surrendered.

     SECTION 2.06 Surrender of Receipts and Withdrawal of Convertible Preferred Stock.

     Any holder of a Receipt or Receipts may withdraw any number of whole shares of deposited
Convertible Preferred Stock represented by the Depositary Shares evidenced by such Receipt or
Receipts and all money and other property, if any, represented by such Depositary Shares at any
time by surrendering such Receipt or Receipts at the Depositary Office or at such other office as
the Depositary may designate for such withdrawals. Upon such surrender, upon payment of all taxes
and charges in connection with such surrender and withdrawal of Convertible Preferred Stock that
are not payable by the Company pursuant to Section 3.05 or 5.07, and subject to the terms and
conditions of this Deposit Agreement, without unreasonable delay, the Depositary shall deliver to
such holder, or to the Person or Persons designated by such holder as hereinafter provided, the
number of whole shares of such Convertible Preferred Stock and all such money and other property,
if any, represented by the Depositary Shares evidenced by the Receipt or Receipts so surrendered
for withdrawal, but holders of such whole shares of Convertible Preferred Stock will not thereafter
be entitled to deposit such Convertible Preferred Stock hereunder or to receive Depositary Shares
therefor. If the Receipt or Receipts delivered by the holder to the Depositary in connection with
such withdrawal shall evidence a number of Depositary Shares in excess of the number of Depositary
Shares representing the number of
whole shares of deposited Convertible Preferred Stock to be withdrawn, the Depositary shall at
the same time, in addition to such number of whole shares of Convertible Preferred Stock and

8

 

such money and other property, if any, to be
withdrawn, deliver to such holder, or upon his order, a new Receipt or Receipts evidencing such excess number of
Depositary Shares. Delivery of such Convertible Preferred Stock and such money and other property
being withdrawn may be made by the delivery of such certificates, documents of title and other
instruments as the Depositary may deem appropriate, which, if required by the Depositary, shall be
properly endorsed or accompanied by proper instruments of transfer. If the deposited Convertible
Preferred Stock and the money and other property being withdrawn are to be delivered to a Person or
Persons other than the record holder of the Receipt or Receipts being surrendered for withdrawal of
Convertible Preferred Stock, such holder shall execute and deliver to the Depositary a written
order so directing the Depositary and the Depositary may require that the Receipt or Receipts
surrendered by such holder for withdrawal of such shares of Convertible Preferred Stock be properly
endorsed in blank or accompanied by a properly executed instrument of transfer or endorsement in
blank.

     The Depositary shall deliver the deposited Convertible Preferred Stock and the money and other
property, if any, represented by the Depositary Shares evidenced by Receipts surrendered for
withdrawal at the Depositary Office, except that, at the request, risk and expense of the holder
surrendering such Receipt or Receipts and for the account of the holder thereof, such delivery may
be made at such other place as may be designated by such holder.

     SECTION 2.07 Limitations on Execution and Delivery, Transfer, Split-up. Combination,
Surrender and Exchange of Receipts.

     As a condition precedent to the execution and delivery, transfer, split-up, combination,
surrender or exchange of any Receipt, the Depositary, any of the Depositary’s Agents or the Company
may require any or all of the following: (i) payment to it of a sum sufficient for the payment (or,
in the event that the Company shall have made such payment, the reimbursement to it) of any tax or
other charge and stock transfer or registration fee with respect thereto (including any such tax or
charge with respect to the Convertible Preferred Stock being deposited or withdrawn); (ii) the production of proof satisfactory to it as to the identity and genuineness
of any signature (or the authority of any signature); and (iii) compliance with such regulations,
if any, as the Depositary or the Company may establish consistent with the provisions of this
Deposit Agreement as may be required by any securities exchange on which the deposited Convertible
Preferred Stock, the Depositary Shares or the Receipts may be included for quotation or listing.

     The deposit of Convertible Preferred Stock may be refused, the delivery of Receipts against
Convertible Preferred Stock may be suspended, the transfer of Receipts may be refused, and the
transfer, split-up, combination, surrender or exchange of outstanding Receipts may be suspended (i)
during any period when the register of stockholders of the Company is closed or (ii) if any such
action is deemed reasonably necessary or advisable by the Depositary, any of the Depositary’s
Agents or the Company at any time or from time to time because of any requirement of law or of any
government or governmental body or commission, or under any other provision of this Deposit
Agreement.

9

 

     SECTION 2.08 Lost Receipts, etc.

     In case any Receipt shall be mutilated and surrendered to the Depositary or destroyed or lost
or stolen, the Depositary shall execute and deliver a Receipt of like form and tenor in exchange
and substitution for such mutilated Receipt or in lieu of and in substitution for such destroyed,
lost or stolen Receipt; provided, that the holder thereof shall have (a) filed with the
Depositary a request for such execution and delivery before the Depositary has notice that the
Receipt has been acquired by a protected purchaser and (b) provided an indemnity bond to the
Depositary and (c) satisfied any other reasonable requirements imposed by the Depositary.

     SECTION 2.09 Cancellation and Destruction of Surrendered Receipts.

     All Receipts surrendered to the Depositary or any of the Depositary’s Agents shall be
cancelled by the Depositary, including Receipts surrendered in connection with any conversion of
the Convertible Preferred Stock in accordance with the Certificate of Designations, subject, in the
case of conversion, to the right of record holders of such Receipts to receive the distributions in
respect of such conversion under Section 4.01 or 4.02. Except as prohibited by applicable law or
regulation, the Depositary is authorized, but not required, to destroy such Receipts so cancelled.
In addition, following the automatic conversion of outstanding Convertible Preferred Stock pursuant
to Section 5 of the Certificate of Designations, all Receipts evidencing Depositary Shares
corresponding to the Convertible Preferred Stock so converted shall be deemed cancelled on the
Mandatory Conversion Date, subject to the right of record holders of such Receipts to receive the
distributions in respect of such conversion under Section 4.01 or 4.02.

     SECTION 2.10 Conversion at the Option of Holders.

     Subject to the terms and conditions of this Deposit Agreement, the record holder of any
Receipt may, at any time that Convertible Preferred Stock may be converted pursuant to Section 6 or
7 of the Certificate of Designations, surrender such Receipt at the Depositary Office or such other
office as the Depositary may from time to time designate for such purpose together with a
notice of conversion properly completed and duly executed and a proper assignment of such
Receipt to the Company or the Transfer Agent or in blank to the Depositary or any of the
Depositary’s Agents, thereby instructing the Depositary to cause the conversion of a specified
number (the “Conversion Number”) of whole shares of Convertible Preferred Stock represented by the
Depositary Shares evidenced by such Receipt in accordance with the applicable provisions in the
Certificate of Designations, (as confirmed in writing by the Company), and specifying the name in
which such holder desires the shares of Common Stock or units of Exchange Property issuable upon
conversion to be registered and specifying payment instructions. The Depositary shall be deemed to
have no knowledge of the Conversion Number unless and until it shall have actually received written
notice thereof from the Company, and shall have no duty or obligation to investigate or inquire as
to whether any Conversion Number contained in any such written notice is accurate, or whether it
complies with the Certificate of Designations. If specified by the holder in such notice of
conversion that shares of Common Stock or other securities issuable upon conversion of the
Depositary Shares shall be issued to a Person other than the holder surrendering the Receipt for
the Depositary Shares being converted,

10

 

then the holder shall pay or cause to be paid any transfer or similar taxes payable in connection with the shares of Common Stock or other securities so
issued that are not payable by the Company pursuant to the Certificate of Designations or Section
3.05. In addition, the holder shall provide any other transfer forms, tax forms or other relevant
documentation required and specified by the Transfer Agent for the Convertible Preferred Stock, if
necessary, to effect the conversion.

     Upon fulfillment of the requirements in the foregoing paragraph, the Depositary is hereby
authorized and instructed to, and shall, as promptly as practicable, (a) give written notice to the
Transfer Agent for the Convertible Preferred Stock of (i) the Conversion Number (as specified in
writing by the Company), (ii) the number of shares of Common Stock or units of Exchange Property to
be delivered upon conversion of such Conversion Number of shares of Convertible Preferred Stock
(each as specified in writing by the Company), (iii) the amount of immediately available funds (as
specified in writing by the Company), if any, to be delivered to the holder of such Receipts in
payment of any fractional shares of Common Stock or other securities otherwise issuable and (iv)
the amount of cash or other property (as specified in writing by the Company), if any, to be
delivered to the holder of such Receipts in respect of accrued and unpaid dividends payable by the
Company upon conversion of such shares of Convertible Preferred Stock pursuant to the Certificate
of Designations, (b) cancel such Receipt or, if a Registrar for Receipts (other than the
Depositary) shall have been appointed, cause such Registrar to cancel such Receipt, and (c)
surrender to the Transfer Agent for the Convertible Preferred Stock or any other authorized agent
of the Company for conversion in accordance with the Certificate of Designations (as specified in
writing by the Company) certificates for the Convertible Preferred Stock represented by Depositary
Shares as evidenced by such Receipt, together with delivery to the Company or the appropriate agent
of the Company (pursuant to written instructions from the Company) any other information or payment
required by the Certificate of Designations (as specified in writing by the Company) for such
conversion, and such certificates shall thereupon be canceled by the Transfer Agent or other
authorized agent. The Depositary shall have no duty or obligation to investigate or inquire as to
whether the Company provided it with the correct number of shares of Common Stock or units of
Exchange Property to be delivered upon any conversion, or the correct amount of funds, cash or
other property to be delivered in payment of any fractional shares of Common Stock or other
securities otherwise issuable or in respect of accrued and unpaid dividends payable by the Company upon any conversion, and the Depositary
may rely conclusively on any such information provided by the Company

     As promptly as practicable after the Transfer Agent or other authorized agent of the Company
has received such certificates from the Depositary, (a) the Company shall cause to be furnished to
the Depositary (i) a certificate or certificates evidencing such number of shares of Common Stock
or securities included in the Exchange Property, as the case may be, to be delivered upon
conversion of the Conversion Number of shares of Convertible Preferred Stock and to be delivered in
respect of accrued and unpaid dividends payable by the Company upon conversion of such shares of
Convertible Preferred Stock pursuant to the Certificate of Designations, if any, (ii) such amount
of immediately available funds, if any, to be delivered in respect of accrued and unpaid dividends
payable by the Company upon conversion of such shares of Convertible Preferred Stock pursuant to
the Certificate of Designations, and (iii) such

11

 

amount of immediately available funds, if any, to be delivered in lieu of receiving fractional shares and any other property included in the Exchange
Property, in each case as specified in a written notice from the Company and (b) the Depositary is
hereby authorized and instructed to, and shall, deliver at the Depositary Office, (i) a certificate
or certificates evidencing the sum of (x) the number of shares of Common Stock into which the
Convertible Preferred Stock represented by Depositary Shares as evidenced by such Receipt has been
converted and (y) the number of shares of Common Stock or securities included in the Exchange
Property, as the case may be, payable by the Company upon such conversion on account of accrued and
unpaid dividends pursuant to the Certificate of Designations to the extent (if any) that the
Company has elected to pay such accrued and unpaid dividends in shares of Common Stock, in each
case as specified in writing by the Company and which has been provided by the Company, (ii) any
other property included in the Exchange Property (as specified in writing by the Company and which
has been provided by the Company) and (iii) an amount of cash equal to the sum of (x) the amount of
cash payable by the Company upon such conversion on account of accrued and unpaid dividends
pursuant to the Certificate of Designations to the extent (if any) that the Company has elected to
pay such dividends in cash and (y) the amount of cash payable by the Company in lieu of delivering
fractional shares of Common Stock or other securities pursuant to Section 10 of the Certificate of
Designations, in each case as specified in writing by the Company and which has been provided by
the Company.

     If the holder surrenders a Receipt in connection with a conversion of Convertible Preferred
Stock pursuant to Section 6 of the Certificate of Designations and the applicable Conversion Date
occurs during the period from the close of business on a Regular Record Date for any declared
dividend to the open of business on the immediately following Dividend Payment Date, such holder
shall remit to the Depositary with such Receipt an amount of funds equal to the dividend for the
then-current Dividend Period with respect to such shares of Convertible Preferred Stock computed
and paid as set forth in the Certificate of Designations, to the extent required thereunder. The
Depositary shall have no duty or obligation to investigate or inquire whether Receipts representing
shares of Convertible Preferred Stock are surrendered for conversion between the close of business
on a Regular Record Date and the open of business on the immediately following Dividend Payment
Date, or whether the amount of funds, if any, submitted by the holder of the Receipts is equal to
the dividend payable on the related Convertible Preferred Stock on such Dividend Payment Date or
whether such amount was computed and paid as set forth in the Certificate of Designations.

     In the event that a holder of a surrendered Receipt elects to convert less than all Depositary
Shares evidenced by such Receipt under this Section 2.10, upon such conversion, the Depositary
shall, if requested in writing and provided with all necessary information and documents,
authenticate, countersign and deliver to such holder thereof, at the expense of the Company, a new
Receipt evidencing the Depositary Shares as to which such conversion was not effected.

     Delivery of shares of Common Stock and other property following a conversion pursuant to this
Section 2.10 may be made by the delivery of such certificates, documents of title and other
instruments as the Depositary may deem appropriate, which, if required by the Depositary,

12

 

shall be properly endorsed or accompanied by proper instruments of transfer. If such delivery is to be made
otherwise than at the Depositary Office, such delivery shall be made, as hereinafter provided,
without unreasonable delay, at the risk of any holder surrendering Receipts, and for the account of
such holder, to such place designated in writing by such holder.

     SECTION 2.11 Fractional Shares.

     No fractional shares of Common Stock or any other security will be issued to a holder of the
Depositary Shares upon conversion or as a result of any distribution pursuant to Section 4.02. If
more than one share of Convertible Preferred Stock represented by Depositary Shares as evidenced by
Receipts held by the same holder shall be surrendered for conversion or entitled to a distribution
pursuant to Section 4.02 at one time, the number of full shares of Common Stock or other security
issuable upon conversion thereof or upon the relevant distribution, as applicable, shall be
computed on the basis of the aggregate number of shares of Convertible Preferred Stock so
surrendered or entitled to such distribution. Whenever a payment in lieu of fractional shares is
to be made by the Depositary, the Company shall (i) promptly prepare and deliver to the Depositary
a certificate setting forth in reasonable detail the facts related to such payments and the prices
and/or formulas utilized in calculating such payments, and (ii) provide sufficient cash to the
Depositary in the form of fully collected funds to make such payments. The Depositary shall be
fully protected in relying upon such a certificate and shall have no duty with respect to, and
shall not be deemed to have knowledge of, any payment in lieu of fractional shares under any
Section of this Deposit Agreement relating to the payment of fractional shares unless and until the
Depositary shall have received such a certificate and sufficient cash. If the amount of cash
required to be distributed by the Depositary in lieu of fractional shares exceeds the amount of
cash received by the Depositary in lieu of fractional shares pursuant to Section 10(b) of the
Certificate of Designations, then the Depositary, any of the Depositary’s Agents or any other
entity as so instructed in writing by the Company, on behalf of all holders of Receipts entitled to
fractional shares shall, as soon as practicable after the distribution date, sell the minimum
number of such shares on the open market such that each such record holder will be entitled to
receive, in lieu of a fractional share, an amount in cash, rounded to the nearest cent, equal to
such record holder’s proportionate interest in the net proceeds from such sale. The Depositary
shall have no duty or obligation to investigate or inquire whether the amounts of funds paid by the
Company to the Depositary for the benefit of any holder in connection with such a conversion are
correct.

     SECTION 2.12 No Pre-Release.

     The Depositary shall not deliver any deposited Convertible Preferred Stock represented by
Depositary Shares evidenced by Receipts prior to the receipt and cancellation of such Receipts or
other similar method used with respect to Receipts held by DTC. The Depositary shall not issue any
Receipts prior to the receipt by the Depositary of the Convertible Preferred Stock corresponding to
Depositary Shares evidenced by such Receipts. At no time will any Receipts be outstanding if such
Receipts do not evidence Depositary Shares representing Convertible Preferred Stock deposited with
the Depositary, subject to the rights of holders to

13

 

receive distributions upon conversion of the deposited Convertible Preferred Stock pursuant to Section 4.01 or 4.02.

ARTICLE 3

CERTAIN OBLIGATIONS OF HOLDERS OF RECEIPTS AND THE COMPANY

     SECTION 3.01 Filing Proofs, Certificates and Other Information.

     Any Person presenting Convertible Preferred Stock for deposit or any holder of a Receipt may
be required from time to time to file with the Depositary such proof of residence, guarantee of
signature or other information and to execute such certificates as the Depositary may reasonably
deem necessary or proper or the Company may reasonably require by written request to the
Depositary. The Depositary or the Company may withhold or delay the delivery of any Receipt, the
transfer or exchange of any Receipt, the withdrawal of the deposited Convertible Preferred Stock
represented by the Depositary Shares evidenced by any Receipt, the distribution of any dividend or
other distribution or the sale of any rights or of the proceeds thereof, until such proof or other
information is filed, or such certificates are executed.

     SECTION 3.02 Payment of Fees and Expenses.

     Holders of Receipts shall be obligated upon any transfer of Receipts or withdrawal of
deposited Convertible Preferred Stock to provide evidence satisfactory to the Depositary that any
applicable taxes or other charges not payable by the Company pursuant to Section 3.05 have been
paid. Until such payment is made, transfer of any Receipt or any withdrawal of the Convertible
Preferred Stock or money or other property, if any, represented by the Depositary Shares evidenced
by such Receipt may be refused, any dividend or other distribution may be withheld, and any part or
all of the Convertible Preferred Stock or other property represented by the Depositary Shares
evidenced by such Receipt may be sold for the account of the holder thereof (after attempting by
reasonable means to notify such holder a reasonable number of days prior to such sale). Any
dividend or other distribution so withheld and the proceeds of any such sale may be applied to any
payment of such taxes or other charges, the holders remaining liable for any deficiency.

     SECTION 3.03 Representations and Warranties as to Convertible Preferred Stock.

     In the case of the initial deposit of the Convertible Preferred Stock hereunder, the Company
represents and warrants that such Convertible Preferred Stock and each certificate therefor are
validly issued, fully paid and nonassessable. Such representations and warranties shall survive
the deposit of the Convertible Preferred Stock and the issuance of Receipts.

     SECTION 3.04 Representation and Warranty as to Receipts and Depositary Shares.

     The Company hereby represents and warrants that the Receipts, when issued, will evidence legal
and valid interests in the Depositary Shares and each Depositary Share will represent a legal and
valid 1/40th fractional interest in a share of deposited Convertible Preferred

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Stock. Such representation and warranty shall survive the deposit of the Convertible Preferred Stock and
the issuance of Receipts evidencing the Depositary Shares.

     SECTION 3.05 Taxes.

     The Company will pay any and all stock transfer, documentary, stamp and similar taxes and charges that may be payable in respect of any issuance or delivery of Depositary Shares or shares of Convertible Preferred Stock, Common Stock or other securities issued on account of Depositary Shares or certificates representing such shares or securities. The Company will not, however, be required to
 pay any such tax or charge that may be payable in respect of any transfer involved in the issuance or delivery of shares of
 Convertible Preferred Stock, Depositary Shares, shares of Common Stock or other securities in a name other than that in
 which the Depositary Shares with respect to which such shares or other securities are issued or delivered were registered,
 or in respect of any payment to any Person other than a payment to the registered holder thereof, and will not
 be required to make any such issuance, delivery or payment unless and until the Person otherwise entitled to such issuance, delivery or payment has paid to the Company the amount of any such tax or charge or has established, to the satisfaction of the Company and the Depositary , that such tax or charge has been paid or is not payable.

     SECTION 3.06 Listing.

     The Company hereby covenants and agrees that it will apply to list the Depositary Shares on the New York Stock Exchange. In addition, upon such listing, the Company hereby covenants and agrees that it will use reasonable best efforts to keep the Depositary Shares listed on the New York Stock Exchange.

ARTICLE 4

THE CONVERTIBLE PREFERRED STOCK; NOTICES

     SECTION 4.01 Cash Distributions.

     Whenever the Depositary shall
 receive (i) any cash dividend or other cash distribution on the deposited Convertible Preferred Stock (other than
 any cash distribution in respect of accrued and unpaid dividends on account of any conversion of the Convertible Preferred
 Stock pursuant to Section 5, 6 or 7 of the Certificate of Designations), (as specified in writing by the Company) the
 Depositary shall, subject to
 Section 3.02, distribute on the date it receives such dividend or distribution or as soon as practicable
 thereafter to record holders of Receipts as of the record date fixed pursuant to Section 4.04 such amounts
 of such dividend or distribution as are, as nearly as practicable, in proportion to the respective numbers of
 Depositary Shares evidenced by the Receipts held by such holders or (ii) any cash distribution in respect
 of accrued and unpaid dividends on account any conversion of the deposited Convertible Preferred Stock pursuant
 to Section 5, 6 or 7 of the Certificate of Designations, (as specified in writing by the Company), the Depositary
 shall, subject to Section 3.02, distribute on the date that it receives such distribution or as soon as practicable
 thereafter to holders of Receipts as of the applicable Conversion Date such amounts of such cash distribution as are, as
 nearly as practicable, in proportion to the respective numbers of Depositary Shares entitled to receive such
 distribution evidenced by the

15

 

Receipts held by such holders; provided, however, in either case, that in
case the Company or the Depositary shall be required by law to and shall withhold from any cash
dividend or other cash distribution in respect of the Convertible Preferred Stock represented by
the Receipts held by any holder an amount on account of taxes or as otherwise required by law,
regulation or court process, the amount made available for distribution or distributed in respect
of Depositary Shares represented by such Receipts subject to such withholding shall be reduced
accordingly. The Depositary, however, shall distribute or make available for distribution, as the
case may be, only such amount as can be distributed without attributing to any holder of Receipts a
fraction of one cent. Any such fractional amounts shall be rounded down to the nearest whole cent
and so distributed to registered holders entitled thereto and any balance not so distributable
shall be held by the Depositary (without liability for interest thereon) and shall be added to and
be treated as part of the next succeeding distribution to record holders of such Receipts. Each
holder of a Receipt shall provide the Depositary with a properly completed Form W-8 (i.e., Form
W-8BEN, Form W-8EXP, Form W-8IMY, Form W8ECI or another applicable Form W-8) or Form W-9 (which
form shall set forth such holder’s certified taxpayer identification number if requested on such
form), as may be applicable. Each holder of a Receipt acknowledges that, in the event of
non-compliance with the preceding sentence the Internal Revenue Code of 1986 as amended, may
require withholding by the Depositary of a portion of any of the distribution to be made hereunder.

     SECTION 4.02 Distributions Other Than Cash.

     Whenever the Depositary shall receive any distribution other than cash on the deposited
Convertible Preferred Stock (other than any such distribution in connection with any conversion of
the Convertible Preferred Stock pursuant to Section 5, 6 or 7 of the Certificate of Designations,
as specified in writing by the Company, including on account of accrued and unpaid dividends), the
Depositary shall, subject to Section 3.02, distribute on the date it receives such distribution or
as soon as practicable thereafter to record holders of Receipts as of the record date fixed
pursuant to Section 4.04 such amounts of the securities or property received by it as are, as
nearly as practicable, in proportion to the respective numbers of Depositary Shares evidenced by
the Receipts held by such holders, in any manner that the Depositary and the Company may deem
equitable and practicable for accomplishing such distribution. The Depositary shall not make any
distribution of securities to the holders of Receipts unless the Company shall have provided to the
Depositary an opinion of counsel stating that such securities have been registered under the
Securities Act or do not need to be registered. The Company covenants for the benefit of the
holders of Depositary Shares that it will use its best efforts to provide such an opinion of
counsel to the Depositary with regard to any securities that it delivers to the Depositary in
respect of any conversion of the Convertible Preferred Stock pursuant to Section 5, 6 or 7 of the
Certificate of Designations prior to the date of such delivery. Whenever the Depositary shall
receive any distribution other than cash on the deposited Convertible Preferred Stock in connection
with any conversion of the Convertible Preferred Stock pursuant to Section 5, 6 or 7 of the
Certificate of Designations (as specified in writing by the Company), including on account of
accrued and unpaid dividends, the Depositary shall, subject to Section 3.02, distribute on the date
it receives such distribution or as soon as practicable thereafter, to record holders of Receipts
as of the applicable Conversion Date such amounts of the securities or

16

 

property received by it as
are, as nearly as practicable, in proportion to the respective numbers of Depositary Shares
entitled to receive such distribution evidenced by the Receipts held by such
holders, in any manner that the Depositary and the Company may deem equitable and practicable
for accomplishing such distribution. The Person or Persons entitled to receive any Common Stock
issuable upon any conversion shall be treated for all purposes as the record holder(s) of such
shares of Common Stock as of the close of business on the applicable Conversion Date.

     Delivery of shares of Common Stock and other property pursuant to this Section 4.02 may be
made by the delivery of such certificates, documents of title and other instruments as the
Depositary may deem appropriate, which, if required by the Depositary, shall be properly endorsed
or accompanied by proper instruments of transfer. If such delivery is to be made otherwise than at
the Depositary Office, such delivery shall be made, as hereinafter provided, without unreasonable
delay, at the risk of any holder surrendering Receipts, and for the account of such holder, to such
place designated in writing by such holder.

     SECTION 4.03 Subscription Rights, Preferences or Privileges.

     If the Company shall at any time offer or cause to be offered to the Persons in whose names
deposited Convertible Preferred Stock is registered on the books of the Company any rights,
preferences or privileges to subscribe for or to purchase any securities or any rights, preferences
or privileges of any other nature, such rights, preferences or privileges shall in each such
instance be made available by the Depositary to the record holders of Receipts in such manner as
the Company shall instruct (including by the issue to such record holders of warrants representing
such rights, preferences or privileges); provided, however, that (a) if at the time
of issue or offer of any such rights, preferences or privileges the Company determines upon advice
of its legal counsel that it is not lawful or feasible to make such rights, preferences or
privileges available to the holders of Receipts (by the issue of warrants or otherwise) or (b) if
and to the extent instructed by holders of Receipts who do not desire to exercise such rights,
preferences or privileges, the Depositary shall then, if so directed by the Company and provided
with an opinion of counsel that such rights, preferences or privileges have been registered under
the Securities Act or do not need to be registered and that if Depositary undertakes such actions
it will not be deemed an “issuer” under the Securities Act or an “investment company” under the
Investment Company Act of 1940, as amended, and if applicable laws or the terms of such rights,
preferences or privileges so permit, sell such rights, preferences or privileges of such holders at
public or private sale, at such place or places and upon such terms as it may deem proper. The
Company covenants that it will not offer or cause to be offered any such rights, preferences or
privileges unless it is able to provide such an opinion of counsel; provided that this
provision is solely for the benefit of the holders and does not constitute a waiver of any rights
that the holders may have under the Certificate of Incorporation, applicable law or otherwise. The
net proceeds of any such sale shall, subject to Section 3.01 and Section 3.02, be distributed by
the Depositary to the record holders of Receipts entitled thereto as provided by Section 4.01 in
the case of a distribution received in cash. The Depositary shall not make any distribution of
such rights, preferences or privileges, unless the Company shall have provided to the Depositary an
opinion of counsel stating that such rights, preferences or privileges have been registered under
the Securities Act or do not need to be registered.

17

 

     If registration under the Securities Act of the securities to which any rights, preferences or
privileges relate is required in order for holders of Receipts to be offered or sold the securities
to which such rights, preferences or privileges relate, the Company agrees that it will promptly
notify the Depositary of such requirement that it will promptly file a registration statement
pursuant to the Securities Act with respect to such rights, preferences or privileges and
securities and use its commercially reasonable efforts and take all steps available to it to cause
such registration statement to become effective sufficiently in advance of the expiration of such
rights, preferences or privileges to enable such holders to exercise such rights, preferences or
privileges. In no event shall the Depositary make available to the holders of Receipts any right,
preference or privilege to subscribe for or to purchase any securities unless and until such a
registration statement shall have become effective or unless the offering and sale of such
securities to such holders are exempt from registration under the provisions of the Securities Act
and the Company shall have provided to the Depositary an opinion of counsel to such effect.

     If any other action under the law of any jurisdiction or any governmental or administrative
authorization, consent or permit is required in order for such rights, preferences or privileges to
be made available to holders of Receipts, the Company agrees that it will promptly notify the
Depositary of such requirement and to use its commercially reasonable efforts to take such action
or obtain such authorization, consent or permit sufficiently in advance of the expiration of such
rights, preferences or privileges to enable such holders to exercise such rights, preferences or
privileges.

     The Depositary will not be deemed to have any knowledge of any item for which it is supposed
to receive notification under any Section of this Deposit Agreement unless and until it has
received such notification.

     SECTION 4.04 Notice of Dividends; Fixing of Record Date for Holders of Receipts.

     Whenever any cash dividend or other cash distribution shall become payable, any distribution
other than cash shall be made, or any rights, preferences or privileges shall at any time be
offered, with respect to the deposited Convertible Preferred Stock, or whenever the Depositary
shall receive notice of any meeting at which holders of such Convertible Preferred Stock are
entitled to vote or of which holders of such Convertible Preferred Stock are entitled to notice,
the Depositary shall in each such instance fix a record date (which shall be the same date as the
record date fixed by the Company with respect to the Convertible Preferred Stock) for the
determination of the holders of Receipts who shall be entitled to receive such dividend,
distribution, rights, preferences or privileges or the net proceeds of the sale thereof, or to vote
at such meeting.

     SECTION 4.05 Voting Rights.

     Upon receipt from the Company of notice of any meeting at which the holders of deposited
Convertible Preferred Stock are entitled to vote, the Depositary shall, if requested in writing and
provided with all necessary information and documents, as soon as practicable thereafter, mail to
the record holders of Receipts a notice, which shall be provided by the

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Company and which shall
contain (i) such information as is contained in such notice of meeting, (ii) a statement that the
holders of Receipts at the close of business on a specified record date fixed pursuant to Section
4.04 will be entitled, subject to any applicable provision of law, to instruct the Depositary as to
the exercise of the voting rights pertaining to the amount of
Convertible Preferred Stock represented by their respective Depositary Shares and (iii) a
brief statement as to the manner in which such instructions may be given. Upon the written request
of the holders of Receipts on such record date, (which shall be the same date as the record date
fixed by the Company with respect to the Convertible Preferred Stock), the Depositary shall insofar
as practicable vote or cause to be voted, in accordance with the instructions set forth in such
requests, the maximum number of whole shares of Convertible Preferred Stock represented by the
Depositary Shares evidenced by all Receipts as to which any particular voting instructions are
received. To the extent any such instructions request the voting of a fractional interest of a
share of deposited Convertible Preferred Stock, the Depositary shall aggregate such interest with
all other fractional interests resulting from requests with the same voting instructions and shall
vote the number of whole votes resulting from such aggregation in accordance with the instructions
received in such requests. The Company hereby agrees to take all reasonable action that may be
deemed necessary by the Depositary in order to enable the Depositary to vote such Convertible
Preferred Stock or cause such Convertible Preferred Stock to be voted in accordance with the
instructions received by the Depositary. In the absence of specific instructions from the holder
of a Receipt, the Depositary will not vote the shares of Convertible Preferred Stock that are
represented by the Depositary Shares evidenced by such Receipt.

     SECTION 4.06 Changes Affecting Convertible Preferred Stock and Reorganization Events.

     Upon any change in liquidation preference, par or stated value, split-up, combination or any
other reclassification of the Convertible Preferred Stock, any Reorganization Event or any exchange
of the Convertible Preferred Stock for cash, securities or other property, the Depositary shall,
upon the written instructions of the Company setting forth any of the following adjustments, (i)
reflect such adjustments in the Depositary’s books and records in (a) the fraction of an interest
represented by one Depositary Share in one share of Convertible Preferred Stock and (b) the ratio
of the conversion rate per Depositary Share to the conversion rate of a share of Convertible
Preferred Stock as may be required by or as is consistent with the provisions of the Certificate of
Designations to fully reflect the effects of such change in liquidation preference, par or stated
value, split-up, combination or other reclassification of Convertible Preferred Stock, of such
Reorganization Event or of such exchange and (ii) subject to the last sentence of this Section
4.06, treat any shares of stock or other securities or property (including cash) that shall be
received by the Depositary in exchange for or in respect of the Convertible Preferred Stock as new
deposited property under this Deposit Agreement, and Receipts then outstanding shall thenceforth
represent the proportionate interests of holders thereof in the new deposited property so received
in exchange for or in respect of such Convertible Preferred Stock. In any such case the Depositary
may, upon the receipt of written request of the Company, execute and deliver additional Receipts,
or may call for the surrender of all outstanding Receipts to be exchanged for new Receipts
specifically describing such new deposited property. Notwithstanding the foregoing, the Common
Stock or other Exchange Property issuable upon conversion of the

19

 

Convertible Preferred Stock
pursuant to Section 5, 6 or 7 of the Certification of Designations (or their successors) shall not
be treated as new deposited property under this Deposit Agreement and instead the provisions in
Section 2.10 and Section 4.02 shall apply.

     SECTION 4.07 Inspection of Reports.

     The Depositary shall make available for inspection by holders of Receipts at the Depositary
Office and at such other places as it may from time to time deem advisable during normal business
hours any reports and communications received from the Company that are both received by the
Depositary as the holder of deposited Convertible Preferred Stock and made generally available to
the holders of the Convertible Preferred Stock. In addition, the Depositary shall transmit, upon
written request by the Company, certain notices and reports to the holders of Receipts as provided
in Section 5.05.

     SECTION 4.08 Lists of Receipt Holders.

     Promptly upon request from time to time by the Company, the Registrar shall furnish to the
Company a list, as of a recent date specified by the Company, of the names, addresses and holdings
of Depositary Shares of all Persons in whose names Receipts are registered on the books of the
Registrar.

     SECTION 4.09 Withholding.

     Notwithstanding any other provision of this Deposit Agreement, in the event that the
Depositary determines that any distribution in property is subject to any tax or other charge which
the Depositary is obligated by law to withhold, the Depositary may dispose of, by public or private
sale, all or a portion of such property in such amounts and in such manner as the Depositary deems
necessary and practicable to pay such taxes, and the Depositary shall distribute the net proceeds
of any such sale or the balance of any such property after deduction of such taxes to the holders
of Receipts entitled thereto in proportion to the number of Depositary Shares held by them,
respectively; provided, however, that in the event the Depositary determines that
such distribution of property is subject to withholding tax only with respect to some but not all
holders of Receipts, the Depositary will use its best efforts (i) to sell only that portion of such
property distributable to such holders that is required to generate sufficient proceeds to pay such
withholding tax and (ii) to effect any such sale in such a manner so as to avoid affecting the
rights of any other holders of Receipts to receive such distribution in property.

ARTICLE 5

THE DEPOSITARY AND THE COMPANY

     SECTION 5.01 Maintenance of Offices, Agencies and Transfer Books by the Depositary and the
Registrar.

     The Depositary shall maintain at the Depositary Office facilities for the execution and
delivery, transfer, surrender and exchange, split-up and combination of Receipts and deposit and
withdrawal of Convertible Preferred Stock and at the offices of any of the Depositary’s Agents,

20

 

if
any, facilities for the delivery, transfer, surrender and exchange, split-up and combination of
Receipts and deposit and withdrawal of Convertible Preferred Stock, all in accordance with the
provisions of this Deposit Agreement.

     The Registrar shall keep books at the Depositary Office for the registration and transfer of
Receipts, which books at all reasonable times shall be open for inspection by the record holders of
Receipts as provided by applicable law. The Company may cause the Registrar to
close such books, at any time or from time to time, when deemed expedient by it in connection
with the performance of its duties hereunder.

     If the Receipts or the Depositary Shares evidenced thereby or the Convertible Preferred Stock
represented by such Depositary Shares shall be listed on the New York Stock Exchange, Inc. or any
other stock exchange, the Depositary may, with the written approval of the Company, appoint a
registrar (acceptable to the Company) for registration of such Receipts or Depositary Shares in
accordance with the requirements of such exchange. Such registrar (which may be the Registrar if
so permitted by the requirements of such exchange) may be removed and a substitute registrar
appointed by the Registrar upon the request or with the written approval of the Company. If the
Receipts, such Depositary Shares or such Convertible Preferred Stock are listed on one or more
other stock exchanges, the Registrar will, at the request and expense of the Company, arrange such
facilities for the delivery, transfer, surrender and exchange of such Receipts, such Depositary
Shares or such Convertible Preferred Stock as may be required by law or applicable stock exchange
regulations.

     SECTION 5.02 Prevention or Delay in Performance by the Depositary, the Depositary’s Agents,
the Registrar or the Company.

     None of the Depositary, any of the Depositary’s Agents, the Registrar, the Transfer Agent or
the Company shall incur any liability to any holder of any Receipt, if by reason of any provision
of any present or future law or regulation thereunder of the United States of America or of any
other governmental authority or, in the case of the Depositary, any of the Depositary’s Agents, the
Registrar or Transfer Agent, by reason of any provision, present or future, of the Certificate of
Incorporation or, in the case of the Company, the Depositary, any of the Depositary’s Agents, the
Transfer Agent or the Registrar, by reason of any acts of God, fire, war, terrorism, floods,
strikes, civil or military disorder, work stoppage, accident, electrical outages, equipment or
transmission failure, failure or malfunction of any utilities, means of communication or computer
(software or hardware) services, the unavailability of the Federal Reserve Bank, or other
circumstance beyond the control of the relevant party, the Depositary, any of the Depositary’s
Agents, the Transfer Agent, the Registrar or the Company shall be prevented or forbidden from doing
or performing any act or thing that the terms of this Deposit Agreement provide shall be done or
performed; nor shall the Depositary, any of the Depositary’s Agents, the Transfer Agent, the
Registrar or the Company incur any liability to any holder of a Receipt by reason of any
nonperformance or delay, caused as aforesaid, in the performance of any act or thing that the terms
of this Deposit Agreement provide shall or may be done or performed, or by reason of any exercise
of, or failure to exercise, any discretion provided for in this Deposit Agreement.

21

 

     SECTION 5.03 Obligations of the Depositary, the Depositary’s Agents and the Registrar.

     Neither the Depositary nor any of the Depositary’s Agents nor the Transfer Agent or the
Registrar assumes any obligation or shall be subject to any liability under this Deposit Agreement
to holders of Receipts, the Company or any other Person or entity other than for its bad faith,
gross negligence or willful misconduct (which bad faith, gross negligence or willful misconduct
must be determined by a final, non-appealable order, judgment, decree or ruling of a
court of competent jurisdiction). Notwithstanding anything to the contrary contained herein,
neither the Depositary, nor any of the Depositary’s Agents nor the Transfer Agent or the Registrar
shall be liable for any special, indirect, incidental, consequential, punitive or exemplary losses
or damages, of any kind whatsoever, to any Person, including but not limited to, lost profits, even
if such Person alleged to be liable has knowledge of the possibility of such damages or been
advised of the likelihood of such loss or damage and regardless of the form of action. Any
liability of the Depositary, any of the Depositary’s Agents, the Transfer Agent or the Registrar
under this Deposit Agreement shall be limited to the amount of annual fees paid by the Company to
such Person.

     None of the Depositary, any of the Depositary’s Agents, the Registrar or Transfer Agent shall
be under any obligation to appear in, prosecute or defend any action, suit or other proceeding with
respect to the deposited Convertible Preferred Stock, Depositary Shares or Receipts that in its
opinion may involve it in expense or liability, unless indemnity satisfactory to it against all
expense and liability be furnished as often as may be required.

     None of the Depositary, any of Depositary’s Agents, the Registrar or Transfer Agent shall be
liable for any action or any failure to act by it in reliance upon the advice of legal counsel or
accountants, or information provided by any Person presenting Convertible Preferred Stock for
deposit or any holder of a Receipt. The Depositary, any of the Depositary’s Agents, the Registrar
and the Transfer Agent may each rely and shall each be protected in acting upon any written notice,
request, direction or other document believed by it to be genuine and to have been signed or
presented by the proper party or parties.

     In the event the Depositary shall receive conflicting claims, requests or instructions from
any holders of Receipts, on the one hand, and the Company, on the other hand, the Depositary shall
be entitled to act on such claims, requests or instructions received from the Company, and shall
incur no liability and shall be entitled to the full indemnification set forth in Section 5.06 in
connection with any action so taken.

     The Depositary shall not be responsible for any failure to carry out any instruction to vote
any of the deposited Convertible Preferred Stock or for the manner or effect of any such vote made,
as long as any such action or non-action does not result from bad faith, gross negligence or
willful misconduct of the Depositary (which bad faith, gross negligence or willful misconduct must
be determined by a final, non-appealable order, judgment, decree or ruling of a court of competent
jurisdiction). The Depositary undertakes, and the Registrar and the Transfer Agent shall be
required to undertake, to perform such duties and only such duties as are specifically set

22

 

forth in this Deposit Agreement, and no implied covenants or obligations shall be read
into this Deposit Agreement against the Depositary or the Registrar or the Transfer Agent.

     The Depositary, its parents, affiliates or subsidiaries, any of the Depositary’s Agents, the
Registrar or the Transfer Agent may own, buy, sell or deal in any class of securities of the
Company and its affiliates and in Receipts or Depositary Shares or become pecuniarily interested in
any transaction in which the Company or its affiliates may be interested or contract with or lend
money to or otherwise act as fully or as freely as if it were not the Depositary, the Depositary’s
Agent, the Registrar or the Transfer Agent hereunder. The Depositary, any of the Depositary’s
Agents, the Registrar or the Transfer Agent may also act as transfer agent or registrar of any of
the securities of the Company and its affiliates or act in any other capacity for the Company or
its affiliates.

     It is intended that neither the Depositary nor any of the Depositary’s Agents shall be deemed
to be an “issuer” of the securities under the federal securities laws or applicable state
securities laws, it being expressly understood and agreed that the Depositary and any of the
Depositary’s Agents are acting only in a ministerial capacity as Depositary for the deposited
Convertible Preferred Stock; provided, however, that the Depositary agrees to
comply with all information reporting and withholding requirements applicable to it under law or
this Deposit Agreement in its capacity as Depositary.

     Neither the Depositary (or its officers, directors, employees, agents or affiliates) nor any
of the Depositary’s Agents makes any representation or has any responsibility as to the validity of
the registration statement pursuant to which the Depositary Shares are registered under the
Securities Act, the deposited Convertible Preferred Stock, the Depositary Shares, the Receipts
(except its countersignature thereon) or any instruments referred to therein or herein, or as to
the correctness of any statement made therein or herein; provided, however, that
the Depositary is responsible for its representations in this Deposit Agreement.

     The Company agrees that it has registered the deposited Convertible Preferred Stock and the
Depositary Shares in accordance with the applicable securities laws.

     In the event the Depositary, any of the Depositary’s Agents, the Registrar or the Transfer
Agent believes any ambiguity or uncertainty exists in any notice, instruction, direction, request
or other communication, paper or document received by it pursuant to this Deposit Agreement, such
Person shall promptly notify the Company of the details of such alleged ambiguity or uncertainty,
and may, in its sole discretion, refrain from taking any action, and such Person shall be fully
protected and shall incur no liability to any Person from refraining from or for taking such
action, absent bad faith, gross negligence or willful misconduct (which bad faith, gross negligence
or willful misconduct must be determined by a final, non-appealable order, judgment, decree or
ruling of a court of competent jurisdiction), unless and until (i) the rights of all parties have
been fully and finally adjudicated by a court of appropriate jurisdiction or (ii) such Person
receives written instructions with respect to such matter signed by the Company that eliminates
such ambiguity or uncertainty to the satisfaction of such Person.

23

 

     Whenever in the performance of its duties under this Deposit Agreement, the Depositary, any of
the Depositary’s Agents, the Transfer Agent or the Registrar shall deem it necessary or desirable
that any fact or matter be proved or established by the Company prior to taking, suffering or
omitting to take any action hereunder, such fact or matter (unless other evidence in respect
thereof be herein specifically prescribed) may be deemed to be conclusively provided and
established by a certificate signed by any one of the President, any Vice President, the Treasurer,
any Assistant Treasurer, the Secretary or Assistant Secretary of the Company and delivered to the
Depositary, any of the Depositary’s Agents, the Transfer Agent or the Registrar; and such
certificate shall be full and complete authorization and protection to the Depositary, any of the
Depositary’s Agents, the Transfer Agent or the Registrar and the Depositary, any of the
Depositary’s Agents, the Transfer Agent or the Registrar shall incur no liability for or in respect
of any action taken, suffered or omitted to be taken by it under the provisions of this Deposit
Agreement in reliance upon such certificate. The Depositary, any of the Depositary’s Agents, the
Transfer Agent or the Registrar shall not be liable for or by reason of any of the statements of
fact or recitals contained in this Deposit Agreement or in the Receipts (except its
countersignature thereof) or be required to verify the same, but all such statements and recitals
are and shall be deemed to have been made by the Company only.

     Neither the Depositary, any of the Depositary’s Agents, the Transfer Agent nor the Registrar
will be under any duty or responsibility to ensure compliance with any applicable federal or state
securities laws in connection with the issuance, transfer or exchange of the Receipts, Convertible
Preferred Stock or Depositary Shares.

     Notwithstanding anything herein to the contrary, no amendment to the Certificate of
Designations shall affect the rights, duties, obligations or immunities of the Depositary, any of
the Depositary’s Agents, the Transfer Agent or the Registrar hereunder.

     The Depositary, the Transfer Agent and the Registrar hereunder:

          (i) shall have no duties or obligations other than those specifically set forth herein (and no
implied duties or obligations), or as may subsequently be agreed to in writing by the parties;

          (ii) shall have no obligation to make payment hereunder unless the Company shall have provided
the necessary federal or other immediately available funds or securities or property, as the case
may be, to pay in full amounts due and payable with respect thereto;

          (iii) shall not be obligated to take any legal or other action hereunder; if, however, the
Depositary, the Transfer Agent or the Registrar determines to take any legal or other action
hereunder, and, where the taking of such action might in such Person’s judgment subject or expose
it to any expense or liability, it shall not be required to act unless it shall have been furnished
with an indemnity satisfactory to it;

          (iv) may rely on and shall be authorized and protected in acting or omitting to act upon any
certificate, instrument, opinion, notice, letter, facsimile transmission or other

24

 

document or
security delivered to it and believed by it to be genuine and to have been signed by the proper
party or parties, and shall have no responsibility for determining the accuracy thereof;

          (v) may rely on and shall be authorized and protected in acting or omitting to act upon the
written, telephonic, electronic and oral instructions, with respect to any matter relating to the
Depositary’s, the Transfer Agent’s or the Registrar’s actions as depositary, transfer agent or
registrar covered by this Deposit Agreement (or supplementing or qualifying any such actions), of
officers of the Company;

          (vi) may consult counsel satisfactory to it (who may be an employee of the Depositary, the
Transfer Agent or the Registrar), and the advice of such counsel shall be full and complete
authorization and protection in respect of any action taken, suffered or omitted to be taken by it
hereunder in accordance with the advice of such counsel;

          (vii) shall not be called upon at any time to advise any Person with respect to the
Depositary Shares or Receipts;

          (viii) shall not be liable or responsible for any recital or statement contained in any
documents relating hereto or the Depositary Shares or Receipts; and

          (ix) shall not be liable in any respect on account of the identity, authority or rights of the
parties (other than with respect to its own) executing or delivering or purporting to execute or
deliver this Deposit Agreement or any documents or papers deposited or called for under this
Deposit Agreement.

     The obligations of the Company set forth in this Section 5.03 shall survive the replacement,
removal or resignation of any Depositary, Registrar, Transfer Agent or any of the Depositary’s
Agents or the termination of this Deposit Agreement.

     SECTION 5.04 Resignation and Removal of the Depositary; Appointment of Successor Depositary.

     The Depositary may at any time resign as Depositary hereunder by notice of its election to do
so delivered to the Company, such resignation to take effect upon the appointment of a successor
depositary and its acceptance of such appointment as hereinafter provided.

     The Depositary may at any time be removed by the Company by notice of such removal delivered
to the Depositary, such removal to take effect upon the appointment of a successor depositary and
its acceptance of such appointment as hereinafter provided. Upon any such removal or appointment,
the Company shall send notice thereof by first-class mail, postage prepaid, to the holders of
Receipts.

     In case at any time the Depositary acting hereunder shall resign or be removed, the Company
shall, within 60 days after the delivery of the notice of resignation or removal, as the case may
be, appoint a successor depositary, which shall be (i) a Person having its principal office in the
United States of America and having a combined capital and surplus of at least

25

 

$50,000,000 and that
is not an affiliate of the Company, or (ii) an affiliate of such a Person. If a successor
depositary shall not have been appointed and have accepted appointment in 60 days, the resigning
Depositary may petition a court of competent jurisdiction to appoint a successor depositary. Every
successor depositary shall execute and deliver to its predecessor and to the Company an instrument
in writing accepting its appointment hereunder, and thereupon such successor depositary, without
any further act or deed, shall become fully vested with all the rights, powers, duties and
obligations of its predecessor and for all purposes shall be the Depositary under this Deposit
Agreement, and such predecessor, upon payment of all sums due it and on the written request of the
Company, shall promptly execute and deliver an instrument transferring to such successor all rights
and powers of such predecessor hereunder, shall duly assign, transfer and deliver all rights, title
and interest in the deposited Convertible Preferred Stock and any moneys or property held hereunder
to such successor and shall deliver to such successor a list of the record holders of all
outstanding Receipts. Any successor Depositary shall promptly mail notice of its appointment to
the record holders of all outstanding Receipts.

     Any corporation or other entity into or with which the Depositary may be merged, consolidated
or converted, or any corporation or other entity to which all or a substantial part of the assets
of the Depositary may be transferred, shall be the successor Depositary without the execution or
filing of any document or any further act. Such successor Depositary may execute the Receipts
either in the name of the predecessor Depositary or in the name of the successor Depositary.

     The provisions of this Section 5.04 as they apply to the Depositary apply to the Registrar and
the Transfer Agent, as if specifically enumerated herein.

     SECTION 5.05 Notices, Reports and Documents.

     The Company agrees that it will deliver to the Depositary, and the Depositary, if requested in
writing by the Company and provided with all necessary information and documents, agrees that it
will, promptly after receipt of such notice, transmit to the record holders of Receipts, in each
case at the address recorded in the books of the Depositary, the Transfer Agent or the Registrar,
copies of all notices and reports generally made available by the Company to holders of the
Convertible Preferred Stock and not otherwise made publicly available. Such transmission will be
at the Company’s expense and the Company will provide the Depositary with such number of copies of
such documents as the Depositary may reasonably request. In addition, the Depositary will transmit
to the record holders of Receipts at the Company’s expense such other documents as may be requested
by the Company.

     SECTION 5.06 Indemnification by the Company.

     The Company shall indemnify the Depositary, any of the Depositary’s Agents, the Transfer Agent
and the Registrar against, and hold each of them harmless from, any loss, liability, damage, cost
or expense (including the costs and expenses of defending itself) which may arise out of (i) acts
performed, suffered or omitted to be taken in connection with this Deposit Agreement and the
Receipts (a) by the Depositary, the Transfer Agent or the Registrar or any of their respective
agents (including any of the Depositary’s Agents), except for any liability

26

 

arising out of bad
faith, gross negligence or willful misconduct (which bad faith, gross negligence or willful
misconduct must be determined by a final, non-appealable order, judgment, decree or ruling of a
court of competent jurisdiction) on the respective parts of any such Person or Persons, or (b) by
the Company or any of its agents, or (ii) the offer, sale or registration of the Receipts or shares
of Stock pursuant to the provisions hereof. The obligations of the Company set forth in this
Section 5.06 shall survive the replacement, removal or resignation of any Depositary, Registrar,
Transfer Agent or Agent of Depositary or termination of this Deposit Agreement. In no event shall
the Depositary have any right of set off or counterclaim against the Depositary Shares or the
Convertible Preferred Stock.

     SECTION 5.07 Fees, Charges and Expenses.

     No charges and expenses of the Depositary or any of the Depositary’s Agents hereunder shall be
payable by any Person, except as provided in this Section 5.07. The Company shall pay all transfer
and other taxes and charges arising solely from the existence of this Deposit Agreement. The
Company shall also pay all fees and expenses of the Depositary in connection with the initial
deposit of the Convertible Preferred Stock and the initial issuance of the Depositary Shares
evidenced by the Receipts and all withdrawals of the Convertible Preferred Stock by holders of
Receipts. All other fees and expenses of the Depositary and any of the Depositary’s Agents
hereunder and of the Registrar or the Transfer Agent (including, in each case, fees and expenses of
counsel) incurred in the preparation, negotiation, delivery, amendment, administration,
modification, waiver, performance, enforcement and execution of this Deposit Agreement and incident
to the performance of their respective obligations hereunder will be paid by the Company as
previously agreed between the Depositary and the Company. The Depositary (and if applicable, the
Transfer Agent and the Registrar) shall present its statement for fees and expenses to the Company
once every three months or at such other intervals as the Company and the Depositary may agree.

ARTICLE 6

AMENDMENT AND TERMINATION

     SECTION 6.01 Amendment.

     The form of the Receipts and any provision of this Deposit Agreement may at any time and from
time to time be amended by agreement between the Company and the Depositary without the consent of
holders of Receipts in any respect that the Company and the Depositary may deem necessary or
desirable; provided, however, that no such amendment (other than any change in the
fees of the Depositary, the Registrar or the Transfer Agent that are payable by the Company) which
(i) shall materially and adversely alter the rights of the holders of Receipts or (ii) would be
materially and adversely inconsistent with the rights granted to the holders of the Convertible
Preferred Stock pursuant to the Certificate of Incorporation shall be effective unless such
amendment shall have been approved by the holders of Receipts evidencing at least 66 2/3% in voting
power of the Depositary Shares then outstanding. In no event shall any amendment impair the right,
subject to the provisions of Section 2.06 and Section 2.07 and Article III, of any holder of any
Receipts evidencing such Depositary Shares to surrender any Receipt with instructions to the
Depositary to deliver to the holder the deposited Convertible

27

 

Preferred Stock and all money and other property, if any, represented thereby, except in order
to comply with mandatory provisions of applicable law. Every holder of an outstanding Receipt at
the time any such amendment becomes effective shall be deemed, by continuing to hold such Receipt,
to consent and agree to such amendment and to be bound by this Deposit Agreement as amended
thereby.

     SECTION 6.02 Termination.

     This Deposit Agreement may be terminated by the Company upon not less than 30 days’ prior
written notice to the Depositary if the holders of Receipts evidencing a majority of the Depositary
Shares then outstanding consent to such termination, whereupon the Depositary shall deliver or make
available to each holder of a Receipt, upon surrender of the Receipt held by such holder, such
number of whole or fractional shares of deposited Convertible Preferred Stock as are represented by
the Depositary Shares evidenced by such Receipt, together with any other property held by the
Depositary in respect of such Receipt. This Deposit Agreement will automatically terminate if (i)
all outstanding Depositary Shares shall have been converted in accordance with the provisions
hereof (including the distribution pursuant to Section 4.01 or Section 4.02 of all Common Stock,
Exchange Property or cash received by the Depositary in respect of the related conversion of
Convertible Preferred Stock to which the holders of Receipts are entitled) or (ii) there shall have
been made a final distribution in respect of the deposited Convertible Preferred Stock in
connection with any liquidation, dissolution or winding up of the Company and such distribution
shall have been distributed to the holders of Receipts entitled thereto.

     Upon the termination of this Deposit Agreement, the Company shall be discharged from all
obligations under this Deposit Agreement except for its obligations to the Depositary, any of the
Depositary’s Agents, the Transfer Agent or the Registrar under Section 5.06 and Section 5.07.

ARTICLE 7

MISCELLANEOUS

     SECTION 7.01 Counterparts.

     This Deposit Agreement may be executed in any number of counterparts, and by each of the
parties hereto on separate counterparts, each of which counterparts, when so executed and
delivered, shall be deemed an original, but all such counterparts taken together shall constitute
one and the same instrument. Delivery of an executed counterpart of a signature page to this
Deposit Agreement by facsimile shall be effective as delivery of a manually executed counterpart of
this Deposit Agreement.

     SECTION 7.02 Exclusive Benefits of Parties.

     This Deposit Agreement is for the exclusive benefit of the parties hereto, and their
respective successors hereunder, and shall not be deemed to give any legal or equitable right,
remedy or claim to any other Person whatsoever.

28

 

     SECTION 7.03 Invalidity of Provisions.

     In case any one or more of the provisions contained in this Deposit Agreement or in the
Receipts should be or become invalid, illegal or unenforceable in any respect, the validity,
legality and enforceability of the remaining provisions contained herein or therein shall in no way
be affected, prejudiced or disturbed thereby; provided, however, that if such
provision affects the rights, duties, liabilities or obligations of the Depositary, the Transfer
Agent or the Registrar, such Person shall be entitled to resign immediately.

     SECTION 7.04 Notices.

     Any and all notices to be given to the Company hereunder or under the Receipts shall be in
writing and shall be deemed to have been duly given if personally delivered or sent by mail, or by
facsimile transmission confirmed by letter, addressed to the Company at:

The Hartford Financial Services Group, Inc.

One Hartford Plaza

Hartford, CN 06155

U.S.A.

Attention: Alan J. Kreczko

Facscimile: +1 860 547 4721

email: Alan.Kreczko@thehartford.com

with a copy to :

Cleary Gottlieb Steen & Hamilton LLP

One Liberty Plaza

New York, NY 10006

Attention: Craig B. Brod

Facsimile: +1 212 225 3999

email: cbrod@cgsh.com

or at any other address of which the Company shall have notified the Depositary in writing.

     Any notices to be given to the Depositary, Transfer Agent or Registrar hereunder or under the
Receipts shall be in writing and shall be deemed to have been duly given if personally delivered or
sent by mail, or telecopier confirmed by letter, addressed to the Depositary:

The Bank of New York Mellon

BNY Mellon Shareowner Services

111 Founders Plaza — 11th Floor

East Hartford, CT 06108

Facsimile: (860) 528-6472

Attention: Lee Kowalsky

email: lee.kowalsky@bnymellon.com

29

 

with a copy to:

The Bank of New York Mellon

BNY Mellon Shareowner Services

480 Washington Boulevard

Jersey City, NJ 07310

Attention: Legal Department

Facsimile: (201) 680-4610

     Any notices given to any record holder of a Receipt hereunder or under the Receipts shall be
in writing and shall be deemed to have been duly given if transmitted through the facilities of DTC
in accordance with DTC’s procedures or personally delivered or sent by mail, recognized next-day
courier service or telecopier confirmed by letter, addressed to such record holder at the address
of such record holder as it appears on the books of the Depositary provided that any record holder
may direct the Depositary to deliver notices to such record holder at an alternate address or in a
specific manner that is reasonably requested by such record holder in a written request timely
filed with the Depositary and that is reasonably acceptable to the Depositary.

     Delivery of a notice sent by mail shall be deemed to be effected at the time when a duly
addressed letter containing the same (or a confirmation thereof in the case of a facsimile message)
is deposited, postage prepaid, in a post office letter box, or in the case of a next-day courier
service, when deposited with such courier, courier fees prepaid. The Depositary or the Company
may, however, act upon any facsimile message received by it from the other or from any holder of a
Receipt, notwithstanding that such facsimile message shall not subsequently be confirmed by letter
as aforesaid.

     SECTION 7.05 Depositary’s Agents.

     The Depositary may from time to time appoint Depositary’s Agents to act in any respect for the
Depositary for the purposes of this Deposit Agreement and may at any time appoint additional
Depositary’s Agents and vary or terminate the appointment of such Depositary’s Agents. The
Depositary will notify the Company of any such action.

     SECTION 7.06 Holders of Receipts Are Parties.

     The holders of Receipts from time to time shall be deemed to be parties to this Deposit
Agreement and shall be bound by all of the terms and conditions hereof and of the Receipts by
acceptance of delivery thereof to the same extent as though such Person executed this Deposit
Agreement.

     SECTION 7.07 Governing Law.

     This Deposit Agreement and the Receipts and all rights, claims, controversies and disputes
arising under or relating to this Deposit Agreement or the Receipts shall be governed by,

30

 

and construed in accordance with, the law of the State of New York applicable to agreements
made and to be performed in said State, without regard to conflicts of laws principles thereof.

     SECTION 7.08 Inspection of Deposit Agreement and Certificate of Designations.

     Copies of this Deposit Agreement and the Certificate of Designations shall be filed with the
Depositary and any of the Depositary’s Agents and shall be open to inspection during business hours
at the Depositary Office by any holder of any Receipt.

     SECTION 7.09 Headings.

     The headings of articles and sections in this Deposit Agreement and in the form of the Receipt
set forth in Exhibit A hereto have been inserted for convenience only and are not to be regarded as
a part of this Deposit Agreement or to have any bearing upon the meaning or interpretation of any
provision contained herein or in the Receipts.

31

 

     IN WITNESS WHEREOF, The Hartford Financial Services Group, Inc. and The Bank of New York
Mellon have duly executed this
Deposit Agreement as of the day and year first above set forth and all holders of Receipts shall
become parties hereto by and upon acceptance by them of delivery of Receipts issued in accordance
with the terms hereof.

	 	 	 	 	 
	 	THE HARTFORD FINANCIAL SERVICES

GROUP, INC.

 	 
	 	By:  	/s/ JOHN N. GIAMALIS	 
	 	 	Name:  	John N. Giamalis	 
	 	 	Title:  	Senior Vice President and Treasurer	 
	 
	 	THE BANK OF NEW YORK MELLON

as Depositary, Registrar and Transfer Agent

 	 
	 	By:  	/s/ LEE KOWALSKY	 
	 	 	Authorized Signatory 	 
	 	 	 	 

Deposit Agreement

7.25% Mandatory Convertible Preferred Stock, Series F

 

 

Exhibit A

FORM OF FACE OF RECEIPT

     [THE SECURITIES REPRESENTED BY THIS INSTRUMENT AND THE SHARES OF COMMON STOCK ISSUABLE UPON
CONVERSION OF SUCH SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE TRANSFERRED, SOLD OR
OTHERWISE DISPOSED OF EXCEPT WHILE A REGISTRATION STATEMENT RELATING THERETO IS IN EFFECT UNDER THE
SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN EXEMPTION FROM REGISTRATION
UNDER THE SECURITIES ACT OR SUCH LAWS.]

     [IF GLOBAL RECEIPT IS ISSUED: UNLESS THIS RECEIPT IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK,
TO THE CORPORATION OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY RECEIPT
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC) ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE &
CO. HAS AN INTEREST HEREIN.

     TRANSFERS OF THIS GLOBAL RECEIPT SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO
NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF
THIS GLOBAL RECEIPT SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET
FORTH IN THE CERTIFICATE OF DESIGNATIONS REFERRED TO BELOW.]

     IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT
SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH REGISTRAR AND TRANSFER AGENT MAY REQUIRE TO CONFIRM
THAT THE TRANSFER COMPLIES WITH THE RESTRICTIONS ON TRANSFER AND OTHER PROVISIONS OF SAID
AGREEMENT. ANY SALE OR OTHER TRANSFER NOT IN COMPLIANCE WITH SAID AGREEMENT WILL BE VOID.

1

 

			
	Certificate Number                    
	 	[Initial] Number of Depositary Shares                    

THE HARTFORD FINANCIAL SERVICES GROUP, INC.

RECEIPT FOR DEPOSITARY SHARES

Each Representing 1/40th of a Share of

7.25% Mandatory Convertible Preferred Stock, Series F

(par value $0.01 per share)

(liquidation preference $1,000 per share)

     The Bank of New York Mellon, as Depositary (the “Depositary”), hereby certifies
that                                                                                
is the registered owner of [                                        ] [the number shown on
Schedule I hereto of] Depositary Shares (“Depositary Shares”), each Depositary Share representing
1/40th of one share of 7.25% Mandatory Convertible Preferred Stock, Series F, $0.01 par
value per share and liquidation preference of $1,000 per share (the “Stock”), of The Hartford
Financial Services Group, Inc., a Delaware corporation (the “Company”), on deposit with the
Depositary, subject to the terms and entitled to the benefits of the Deposit Agreement dated March
[23], 2010 (the “Deposit Agreement”), among the Company, the Depositary and the holders from time
to time of Receipts for Depositary Shares. By accepting this Receipt, the holder hereof becomes a
party to and agrees to be bound by all the terms and conditions of the Deposit Agreement. This
Receipt shall not be valid or obligatory for any purpose or entitled to any benefits under the
Deposit Agreement unless it shall have been executed by the Depositary by the manual or facsimile
signature of a duly authorized officer or, if a Registrar in respect of the Receipts (other than
the Depositary) shall have been appointed, by the manual signature of a duly authorized officer of
such Registrar.

Dated:

	 	 	 
	[Countersigned:

	 	The Bank of New York Mellon, as Depositary
	 
	 	 
	By:                                                            ]

	 	By:                                                            
	 

	 	     Authorized Signatory

2

 

[FORM OF REVERSE OF RECEIPT]

     The following abbreviations when used in the instructions on the face of this receipt shall be
construed as though they were written out in full according to applicable laws or regulations.

	 	 	 	 	 
	TEN COM - as tenant in common

	 	UNIF GIFT MIN ACT -                    	 	 
	 

	 	Custodian                    	 	 
	 

	 	              
       
       
       (Cust)         (Minor)	 	 
	 
	 	 	 	 
	TEN ENT - as tenants by the entireties

	 	Under Uniform Gifts to Minors Act

	 	 
	 
	 	 	 	 
	JT TEN - as joint tenants with right
of survivorship and not as tenants in
common

	 	 

(State)
	 	 

Additional abbreviations may also be used though not in the above list.

ASSIGNMENT

For value received,                                          hereby sell(s), assign(s) and transfer(s) unto

PLEASE INSERT SOCIAL SECURITY OR

OTHER IDENTIFYING NUMBER OF ASSIGNEE, AS APPLICABLE

 

 

PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS

INCLUDING POSTAL ZIP CODE OF ASSIGNEE

 

                                                     
        Depositary Shares represented by the within Receipt, and do hereby
irrevocably constitute and appoint

                                                             Attorney to transfer the said Depositary Shares on the books of the
within named Depositary with full power of substitution in the premises.

	 	 	 	 	 	 	 	 	 
	Dated

	 	 
	 	 
	 	
	 	 
	 

	 	 
	 	 	 	 

NOTICE: The signature to the assignment must correspond with the
name as written upon the face of this Receipt in every particular,
without alteration or enlargement or any change whatever.	 	 

SIGNATURE GUARANTEED

NOTICE: The signature(s) must be guaranteed by a participant in a Medallion Signature Guarantee
Program at a guarantee level acceptable to the Company’s transfer agent.

3

 

Schedule I1

The Hartford Financial Services Group, Inc.

Receipt for Depositary Shares,

Each Representing a 1/40th Interest in

7.25% Mandatory Convertible Preferred Stock, Series F

Certificate Number:

The number of Depositary Shares initially represented by this Global Depositary Receipt shall be
[          ]. Thereafter the Transfer Agent and Registrar shall note changes in the number of
Depositary Shares evidenced by this Global Depositary Receipt in the table set forth below:

	 	 	 	 	 	 	 
	 	 	 	 	Number of	 	 
	Amount of Decrease	 	Amount of Increase	 	Depositary Shares	 	 
	in Number of	 	in Number of	 	Represented by this	 	 
	Depositary Shares	 	Depositary Shares	 	Global Depositary	 	Signature of
	Evidenced by this	 	Evidenced by this	 	Receipt following	 	Authorized Officer
	Global Depositary	 	Global Depositary	 	Decrease or	 	of Transfer Agent
	Receipt	 	Receipt	 	Increase	 	and Registrar
	 
	 	 
	 	 
	 	 

 

			
	1	 	Attach Schedule I only to global Receipts.

4

 

Exhibit B

Certificate of Designations

[See Exhibit 3.1]

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