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Exhibit 10.26
THE HARTFORD FINANCIAL SERVICES GROUP, INC.
(“THE HARTFORD”)
FORM OF RESTRICTED STOCK UNIT AWARD AGREEMENT 
FOR NON-EMPLOYEE DIRECTORS
FOR:  [insert name of director]
You have been granted an award of restricted stock units under The Hartford 2020 Stock Incentive Plan (the “Plan”) as summarized below:

															
	Award Type	% Deferred	Grant Date	Share Price as of Grant Date	# of Restricted Stock Units
	Annual Grant	[0-100%]	XX/XX/XXXX	$XX.XX	X,XXX.XXX
	[Cash Retainer Deferral]	[0-100%]	[XX/XX/XXXX]	$[XX.XX]	[X,XXX.XXX]

Each restricted stock unit represents a right to receive, pursuant to the terms of the Plan, one share of common stock of The Hartford per restricted stock unit at the Distribution Date indicated below. You may not sell, exchange, transfer, pledge, or otherwise dispose of the units awarded. Until shares are distributed, your restricted stock unit account will be credited with dividend equivalents, which are subject to the same terms and conditions as the restricted stock units to which they relate. These dividend equivalents will be deemed reinvested in a number of restricted stock units determined based on the fair market value of The Hartford common stock on the date the corresponding common stock dividend is payable to stockholders.  
VESTING AND DISTRIBUTION
This is a contingent award and remains subject to forfeiture pending continued Board service through the applicable Vesting Date indicated below. Your units will vest provided you actively and continuously serve as a director of The Hartford until the Vesting Date indicated (unless otherwise provided by the Plan). Vested units will be payable in shares of The Hartford’s common stock and deposited into your individual brokerage account on the Distribution Date indicated, unless otherwise provided by the Plan. Upon your resignation, your units will vest or forfeit as determined by the Compensation and Management Development Committee of The Hartford Board of Directors. 

									
	Restricted Stock Units	Vesting Date	Distribution Date[*]
	X,XXX.XXX	[The earlier of (i) the last day of the 2021-2022 Board service year (the period between dates of the 2021 and 2022 Annual Meetings of Stockholders) or (ii) the first anniversary of the award grant date][insert date]	[Within 60 days following the Vesting Date][Within 60 days following the termination of Board service]
	[X,XXX.XXX]	[N/A – Fully Vested]	[Within 60 days following the termination of Board service]

[*The Distribution Date reflects the date that your restricted stock units will be paid in accordance with your deferral election, which was made in [insert month, year].]

[BENEFICIARY DESIGNATION
One or more beneficiaries for your award may be designated on the Beneficiary Designation Form attached hereto as Attachment A. Should you wish to designate or change a beneficiary for your award, the Beneficiary Designation Form must be returned to [insert address]. If the form is not returned and you die prior to the distribution of your award, shares attributable to your award will be transferred to your spouse (or, if no spouse, your estate), except to the extent that you previously filed a Beneficiary Designation Form applicable to your awards. Unless revoked, your Beneficiary Designation Form will apply to all awards previously granted under the Plan and any awards made to you in the future. Please note that once shares attributable to this award are transferred to your individual brokerage account, the beneficiary designation for your individual brokerage account, and not The Hartford’s Beneficiary Designation Form, applies.]
MORE INFORMATION
269

For further details regarding your award, refer to the Prospectus attached hereto as Attachment B, which includes a copy of the Plan as well as a brief summary of the Federal tax consequences of your award. Attachment C is the Administrative Rules Relating to Awards for Non-Employee Directors. 
Your restricted stock unit award is subject to the terms and conditions set forth in this notice, the Plan, and the administrative rules, procedures and interpretations adopted pursuant to the Plan, and such amendments as may be made to each of the foregoing from time to time. The foregoing documents, including any amendments, collectively constitute your restricted stock unit award agreement with The Hartford for purposes of the award referred to herein.
[insert name and title]

270exhibit46-descriptionofs

Exhibit 4.6  EMERGENT BIOSOLUTIONS INC.   DESCRIPTION OF SECURITIES  The following description of our capital stock and debt securities is intended as a summary only and therefore  is not a complete description. This description is based upon, and is qualified by reference to, our certificate of  incorporation, our by-laws and applicable provisions of Delaware corporate law and the indenture governing our debt  securities. You should read our certificate of incorporation and by-laws, which are filed as exhibits to the Annual  Report on Form 10-K to which this exhibit is attached.  Our authorized capital stock consists of 200,000,000 shares of common stock, $0.001 par value per share, and  15,000,000 shares of preferred stock, $0.001 par value per share, of which 100,000 shares have been designated as  series A junior participating preferred stock. As of December 31, 2020, no shares of preferred stock were outstanding.  Common Stock    Voting Rights. The holders of our common stock are entitled to one vote per share with respect to each matter  presented to our stockholders on which the holders of common stock are entitled to vote and do not have cumulative  voting rights. An election of directors by our stockholders is determined by a plurality of the votes cast by the  stockholders entitled to vote on the election.  Dividends. Holders of common stock are entitled to receive proportionately any dividends as may be declared  by our Board of Directors, subject to any preferential dividend rights of outstanding preferred stock.  Liquidation and Dissolution. In the event of our liquidation or dissolution, the holders of common stock are  entitled to receive ratably all assets available for distribution to stockholders after the payment of all debts and other  liabilities and subject to the prior rights of any outstanding preferred stock.  Other Rights. Holders of common stock have no preemptive, subscription, redemption or conversion rights. The  rights, preferences and privileges of holders of common stock are subject to and may be adversely affected by the  rights of the holders of shares of any series of preferred stock that we may designate and issue in the future.  Listing. Our common stock is listed on the New York Stock Exchange under the symbol “EBS.”  Transfer Agent and Registrar. The transfer agent and registrar for our common stock is Broadridge Corporate  Issuer Solutions, Inc.  Preferred Stock    Under the terms of our certificate of incorporation, our Board of Directors is authorized to issue shares of  preferred stock in one or more series without stockholder approval. Our Board of Directors has the discretion to  determine the rights, preferences, privileges and restrictions, including voting rights, dividend rights, conversion  rights, redemption privileges and liquidation preferences, of each series of preferred stock. Authorizing our Board of  Directors to issue preferred stock and determine its rights and preferences has the effect of eliminating delays  associated with a stockholder vote on specific issuances. Currently, we have no shares of preferred stock outstanding.     If we decide to issue any preferred stock, we will describe in a prospectus or supplement thereto the specific  terms of the preferred stock, including, if applicable, the following:       •   the title and stated value;       •   the number of shares we are offering;       •   the liquidation preference per share;       •   the purchase price;       •   the dividend rate, period and payment date, and method of calculation for dividends;  

 

     •    whether dividends will be cumulative and, if cumulative, the date from which dividends will  accumulate;       •    the relative ranking and preference of the preferred stock as to dividend rights and rights if we liquidate,  dissolve or wind up our affairs;       •   the procedures for any auction and remarketing;       •   the provisions for a sinking fund;       •    the provisions for redemption or repurchase and any restrictions on our ability to exercise those  redemption and repurchase rights;       •   the listing of the preferred stock on any securities exchange or market;       •    whether the preferred stock will be convertible into our common stock and, if convertible, the  conversion price, or how it will be calculated, and the conversion period;       •    whether the preferred stock will be exchangeable into debt securities and, if exchangeable, the  exchange price, or how it will be calculated, and the exchange period;       •   voting rights of the preferred stock;       •   preemptive rights;       •   restrictions on transfer, sale or other assignment;       •   whether interests in the preferred stock will be represented by depositary shares;       •   a discussion of any material U.S. federal income tax considerations applicable to the preferred stock;        •   any limitations on issuance of any class or series of preferred stock ranking senior to or on a parity  with the series of preferred stock as to dividend rights and rights if we liquidate, dissolve or wind up  our affairs; and       •   any other specific terms, preferences, rights or limitations of, or restrictions on, the preferred stock.  The preferred stock could have other rights, including economic rights that are senior to our common stock that  could adversely affect the market value of our common stock. The issuance of the preferred stock may also have the  effect of delaying, deferring or preventing a change in control of us without any action by the shareholders.     3.875% Senior Unsecured Notes due 2028   On August 7, 2020, we completed an offering of $450 million aggregate principal amount of 3.875% Senior  Unsecured Notes due 2028 (the Notes).   The Notes were issued pursuant to an indenture, dated as of August 7, 2020 (the Indenture), by and among us,  certain of our subsidiaries party thereto as guarantors and U.S. Bank National Association, as trustee. The Notes are  fully and unconditionally guaranteed, jointly and severally, on an unsecured basis, by each of our direct and indirect  subsidiaries that guarantee debt under our credit facilities. The Notes are senior unsecured obligations of us, and the  Notes and their guarantees rank equally in right of payment with all of our and the guarantors’ existing and future  unsubordinated indebtedness, but are effectively junior to all of our and the guarantors’ existing and future secured  indebtedness (including our credit facilities), to the extent of the value of the assets securing that indebtedness. In  addition, the Notes are structurally subordinated to all of the existing and future obligations of our subsidiaries that do  not guarantee the Notes.   Interest on the Notes is payable on February 15 and August 15 of each year until maturity, commencing on  February 15, 2021. The Notes will mature on August 15, 2028.   On or after August 15, 2023, we may, at our option, redeem the Notes, in whole or in part, at the applicable  redemption prices set forth in the Indenture, plus accrued and unpaid interest, if any, to, but excluding, the date of  redemption. Prior to August 15, 2023, we may redeem all or a portion of the Notes at a redemption price equal to  100% of the principal amount of the Notes plus a “make-whole” premium described in the Indenture, plus accrued  

 

and unpaid interest, if any, to, but excluding, the date of redemption. Prior to August 15, 2023, we may redeem up to  40% of the aggregate principal amount of the Notes using the net cash proceeds of certain equity offerings at the  redemption price set forth in the Indenture. Upon the occurrence of a “change of control” (as defined in the Indenture),  we must offer to repurchase the Notes at a purchase price of 101% of the principal amount of such Notes plus accrued  and unpaid interest, if any, to, but excluding, the repurchase date.   Subject to certain qualifications and exceptions, the Indenture restricts our and our restricted subsidiaries’  ability to, among other things: (i) incur or guarantee additional debt or issue certain preferred stock; (ii) make certain  investments; (iii) create restrictions on the payment of dividends or other amounts from certain of our restricted  subsidiaries; (iv) enter into certain transactions with affiliates; (v) merge or consolidate with another person, or sell or  otherwise dispose of all or substantially all of our assets; (vi) sell certain assets, including capital stock of our  subsidiaries; (vii) designate our subsidiaries as unrestricted subsidiaries; (viii) pay dividends, redeem or repurchase  capital stock or make other restricted payments; and (ix) incur certain liens.   The Indenture provides for events of default that, if certain events occur, would permit the trustee or holders of  at least 25% in aggregate principal amount of the Notes then outstanding to declare the principal of and unpaid interest  on the Notes to be immediately due and payable.  Stockholder Rights Plan          Our Board of Directors may implement a stockholder rights plan without stockholder approval, which may have  anti-takeover effects. We previously implemented a stockholder rights plan, which expired on November 14, 2016.  Under our prior stockholder rights plan, we issued to each of our stockholders one preferred stock purchase right for  each outstanding share of our common stock. Each right, when exercisable, would have entitled its holder to purchase  from us a unit consisting of one one-thousandth of a share of series A junior participating preferred stock at a purchase  price of $150 in cash, subject to adjustments. Our stockholder rights plan was intended to protect stockholders in the  event of an unfair or coercive offer to acquire us and to provide our Board of Directors with adequate time to evaluate  unsolicited offers.  Provisions of Our Certificate of Incorporation and By-laws and Delaware Law That May Have Anti-Takeover  Effects          Our certificate of incorporation and by-laws and Delaware law contain provisions that could have the effect of  delaying, deferring or discouraging another party from acquiring control of us. These provisions, which are  summarized below, are expected to discourage coercive takeover practices and inadequate takeover bids. These  provisions are also designed to encourage persons seeking to acquire control of us to first negotiate with our Board of  Directors.          As of January 31, 2021, Fuad El-Hibri, our executive chairman, was the beneficial owner of approximately 9%  of our outstanding common stock. As a result, Mr. El-Hibri has significant influence over the election of the members  of our Board of Directors. This control could discourage others from initiating a potential merger, takeover or other  change of control transaction that other stockholders may view as beneficial.          Number of Directors.    Subject to the rights of holders of any series of preferred stock to elect directors, our  Board of Directors will establish the number of directors.          Staggered Board; Removal of Directors.    Our certificate of incorporation and our by-laws divide our directors  into three classes with staggered three-year terms. Our directors may be removed from office only for cause and only  by the affirmative vote of holders of our capital stock representing at least 75% of the voting power of all outstanding  stock entitled to vote.          Any vacancy on our Board of Directors, including a vacancy resulting from an enlargement of our Board of  Directors, may be filled only by the affirmative vote of a majority of our directors present at a meeting duly held at  which a quorum is present.  

 

        The classification of our Board of Directors and the limitations on the removal of directors and filling of vacancies  could make it more difficult for a third party to acquire, or discourage a third party from seeking to acquire, control  of our company.          Stockholder Action by Written Consent; Special Meetings.    Our certificate of incorporation and our by-laws  provide that any action required or permitted to be taken by our stockholders must be effected at a duly called annual  or special meeting of such holders and may not be effected by any consent in writing by such holders. Our certificate  of incorporation and our by-laws also provide that, except as otherwise required by law, special meetings of our  stockholders can only be called by our Board of Directors, our chairman of the board or our president.          Advance Notice Requirements.    Our by-laws establish an advance notice procedure for stockholder proposals to  be brought before an annual meeting of stockholders, including proposed nominations of persons for election to the  Board of Directors. Stockholders at an annual meeting may only consider proposals or nominations specified in the  notice of meeting or brought before the meeting by or at the direction of the Board of Directors or by a stockholder of  record on the record date for the meeting, who is entitled to vote at the meeting and who has delivered timely written  notice in proper form to our secretary of the stockholder's intention to bring such business before the meeting. These  provisions could have the effect of delaying until the next stockholder meeting stockholder actions that are favored  by the holders of a majority of our outstanding voting securities.          Delaware Business Combination Statute.    Section 203 of the General Corporation Law of the State of Delaware,  which we refer to as the DGCL, is applicable to us. Section 203 of the DGCL restricts some types of transactions and  business combinations between a corporation and a 15% stockholder. A 15% stockholder is generally considered by  Section 203 to be a person owning 15% or more of the corporation's outstanding voting stock. Section 203 refers to a  15% stockholder as an “interested stockholder.” Section 203 restricts these transactions for a period of three years  from the date the stockholder acquires 15% or more of our outstanding voting stock. With some exceptions, unless  the transaction is approved by the board of directors and the holders of at least two-thirds of the outstanding voting  stock of the corporation, Section 203 prohibits significant business transactions such as:  • a merger with, disposition of significant assets to or receipt of disproportionate financial benefits by the  interested stockholder, and  • any other transaction that would increase the interested stockholder's proportionate ownership of any class  or series of our capital stock.          The shares held by the interested stockholder are not counted as outstanding when calculating the two-thirds of  the outstanding voting stock needed for approval.          The prohibition against these transactions does not apply if:  • prior to the time that any stockholder became an interested stockholder, the board of directors approved either  the business combination or the transaction in which such stockholder acquired 15% or more of our  outstanding voting stock, or  • the interested stockholder owns at least 85% of our outstanding voting stock as a result of a transaction in  which such stockholder acquired 15% or more of our outstanding voting stock. Shares held by persons who  are both directors and officers or by some types of employee stock plans are not counted as outstanding when  making this calculation.          Super-Majority Voting.    The DGCL provides generally that the affirmative vote of a majority of the shares  entitled to vote on any matter is required to amend a corporation's certificate of incorporation or by-laws, unless a  corporation's certificate of incorporation or by-laws, as the case may be, requires a greater percentage. The affirmative  vote of holders of our capital stock representing at least 75% of the voting power of all outstanding stock entitled to  vote is required to amend or repeal the provisions of our certificate of incorporation described in this section entitled  "Provisions of Our Certificate of Incorporation and By-laws and Delaware Law That May Have Anti-Takeover  Effects." The affirmative vote of either a majority of the directors present at a meeting of our board of directors or  

 

holders of our capital stock representing at least 75% of the voting power of all outstanding stock entitled to vote is  required to amend or repeal our by-laws.  Limitation of Liability and Indemnification of Officers and Directors          Our certificate of incorporation contains provisions permitted under the DGCL relating to the liability of  directors. The provisions eliminate a director's liability for monetary damages for a breach of fiduciary duty, except  in circumstances involving wrongful acts, such as the breach of a director's duty of loyalty or acts or omissions that  involve intentional misconduct or a knowing violation of law. Further, our certificate of incorporation contains  provisions to indemnify our directors and officers to the fullest extent permitted by the DGCL. We have entered into  agreements to indemnify our directors and executive officers. These agreements, among other things, provide that we  will indemnify the director or executive officer to the fullest extent permitted by law for claims arising in his or her  capacity as a director, officer, manager, employee, agent or representative of us. The indemnification agreements also  establish the procedures that will apply in the event a director or officer makes a claim for indemnification.  Registration Rights          Holders of an aggregate of approximately 6 million shares of our common stock as of December 31, 2020 and  have the right to require us to register these shares of common stock under the Securities Act under specified  circumstances, including any additional shares issued or distributed by way of a dividend, stock split or other  distribution in respect of these shares.          Demand Registration Rights.    Subject to specified limitations, holders of these registrations rights may require  that we register all or part of our common stock subject to the registration rights for sale under the Securities Act.  These holders may demand registration of our common stock so long as the offering price to the public of the shares  requested to be registered is at least $25,000,000. We are required to effect only one demand registration, subject to  specified exceptions.          Incidental Registration Rights.    If we propose to file a registration statement under the Securities Act either for  our own account or for the account of other stockholders (other than in connection with a registration statement on  Form S-8 or Form S-4 or to cover securities proposed to be issued in exchange for securities or assets of another  corporation), the holders of registrable shares will be entitled to notice of the registration and we will be required to  use our commercially reasonable efforts to register all or a portion of any registrable shares then held by such holders  that they request that we register. In the event that any registration in which the holders of registrable shares participate  pursuant to our stockholders agreement is an underwritten public offering, we agree to enter into an underwriting  agreement containing such terms as are customary.          Limitations and Expenses.    With specified exceptions, the right to include shares in a registration is subject to  the right of underwriters for the offering to limit the number of shares included in the offering. We are required to pay  one-half of all fees, costs and expenses of any demand registration, other than underwriting discounts and  commissions.

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