Document:

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                                                                  EXHIBIT 10.11a

                      AMENDMENT TO EMPLOYMENT AGREEMENT AND
                            GENERAL RELEASE OF CLAIMS

This Amendment to Employment Agreement and General Release of Claims (the
"Amendment and Release") is entered into by and between Gartner, Inc. a Delaware
corporation (the "Company"), and Michael D. Fleisher (the "Executive") and dated
as of April 29, 2004 (the "Effective Date"). This Amendment and Release amends
the Employment Agreement between the Company and Executive (the "Parties"),
dated August 27, 2002 and effective as of October 1, 2002 (the "Employment
Agreement"). Other than as specifically stated herein, the Employment Agreement
shall remain in full force and effect. To the extent that any term or provision
of this Amendment and Release is inconsistent with the Employment Agreement,
such term or provision of this Amendment and Release shall govern.

In consideration of the promises set forth in this Amendment and Release, the
Parties hereby agree as follows:

I.    TERMINATION OF EMPLOYMENT

      A.    Executive and the Company hereby agree that Executive shall resign
from his position as Chairman and Chief Executive Officer of the Company, and
any and all appointments he holds with any affiliates or subsidiaries of the
Company, whether as officer, director, employee, consultant, agent or otherwise,
shall cease, as of October 30, 2004 (the "Termination Date"). Effective as of
the Termination Date, Executive shall have no authority to act on behalf of the
Company or any of its respective affiliates or subsidiaries, and shall not hold
himself out as having such authority or otherwise act in an executive or other
decision making capacity. The Company shall announce the termination of
Executive's employment on April 29, 2004 (the "Announcement Date"). From the
Effective Date through the Termination Date, Executive shall continue to receive
salary and all benefits and perquisites to which he was entitled immediately
prior to the Announcement Date and, unless otherwise instructed by the Board of
Directors of the Company (the "Board") in accordance with the following
sentence, Executive shall continue to function as the Chairman and Chief
Executive Officer of the Company. Notwithstanding the preceding sentence, at the
written request of the Board at any time on or following the Announcement Date
and prior to the Termination Date, (i) Executive shall step down from the
position of Chairman of the Board, (ii) Executive shall step down from the
position of director, but only if he has stepped down from the position of Chief
Executive Officer in accordance with the following clause (iii) and (iii)
Executive shall step down from the position of Chief Executive Officer of the
Company and shall have only such duties, responsibilities and authorities as are
assigned to him by the Board (any such duties shall be reasonable in light of
the nature of Executive's prior service to the Company), but he shall remain an
employee of the Company through the Termination Date. In addition,
notwithstanding any provision herein to the contrary, Executive shall not be
required to relocate his place of employment if such relocation would be within
the definition of "Constructive Termination" under the Employment Agreement.

      B.    Notwithstanding any provision herein to the contrary, the Board may
terminate Executive's employment at any time for Business Reasons in accordance
with Section 8(a) of the Employment Agreement provided that the event, action,
or omission that constitutes the applicable Business Reason has resulted in or
is reasonably likely to result in material injury to the reputation or business
of the Company. Upon a termination for Business Reasons in accordance with the
preceding sentence, Executive shall be deemed to have failed to abide by the
material terms of this Amendment and Release.

      C.    On the Termination Date, Executive agrees to execute a release
identical in substance to the release contained in Section VI below, covering
the time period from the Effective Date through the

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Termination Date; provided, however, the Parties agree to modify the release to
comply with any new laws which may become applicable. If Executive refuses to
sign such a release, Executive shall be deemed to have failed to abide by the
material terms of this Amendment and Release. Executive represents and warrants
that Executive will not obtain the age of 40 until December 18, 2004.

II.   EMPLOYMENT AGREEMENT ENTITLEMENTS

      In lieu of all payments and benefits specified in Sections 5, 6(a), and 7
of the Employment Agreement (other than the gross-up payment provided in Section
7(c)(ii)), the Company shall provide Executive the following payments and
benefits:

      A.    Executive's "Base Salary" and "PTO" (each as defined in the
Employment Agreement) through the Announcement Date in accordance with the
Company's regular payroll procedures plus a single lump sum payment of
$3,001,811. The lump sum payment will be made within ten days of the
Announcement Date.

      B.    A payment on the date Executive ceases to serve as Chief Executive
Officer (the "CEO Step-Down Date") in an amount equal to $1,300,000 minus the
sum of (1) amounts paid as cash compensation (other than amounts paid under
Section II.A above) from the Announcement Date through the CEO Step-Down Date
and (2) amounts to be paid as cash compensation in the form of salary from the
CEO Step-Down Date through the Termination Date, provided that (i) Executive
continues to perform his duties in good faith through the CEO Step-Down Date and
(ii) Executive has not breached any material provision of the Employment
Agreement or this Amendment and Release through the CEO Step-Down Date.
Notwithstanding the foregoing, Executive shall forfeit the payment to be made on
the CEO Step-Down Date under clause (ii) of the preceding sentence only if
Executive's breach is not cured within ten days of notice from the Company
informing Executive of the breach.

      C.    Continuation of group health benefits (1) for two years following
the Termination Date (or until Executive obtains other employment, if earlier),
at the Company's cost pursuant to the Company's standard programs as in effect
from time to time (or at the Company's election, substantially similar health
benefits as in effect at the Termination Date through a third party carrier) for
Executive, his spouse and any children, and, (2) thereafter, to the extent COBRA
shall be applicable to the Company and such persons are then eligible for COBRA,
continuation of health benefits for such persons at Executive's cost, for a
period of 18 months or such longer period as may be applicable under the
Company's policies then in effect, provided the Executive makes the appropriate
election and payments.

      D.    Accelerated vesting of all outstanding stock options, TARPs and
other equity arrangements granted to Executive prior to October 1, 2002 and held
by Executive on the Termination Date (specifically including the option grants
listed below in this paragraph and the restricted stock granted to Executive on
January 28, 1999), such that the awards shall become fully vested on the
Termination Date. In addition, the options shall remain exercisable as follows:
(i) with respect to options granted to Executive on October 13, 1998, October 9,
1997, April 24, 1997, February 24, 1997, October 10, 1996, and November 17,
1995, until October 29, 2007, and (ii) with respect to options granted to
Executive on October 2, 2001, November 9, 1999, September 30, 1999, and October
5, 1994, until October 29, 2005. The Parties acknowledge that all of the options
granted prior to October 2, 2001 are vested and exercisable as of the Effective
Date. Notwithstanding the foregoing, no option may be exercised following the
expiration of its ten-year term.

      E.    Continued vesting of all outstanding stock options granted to
Executive on or following October 1, 2002 and held by Executive on the
Termination Date (specifically including the option grants listed below in this
paragraph), in accordance with their stated vested schedules through October 29,
2006.

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The options granted to Executive on each of October 10, 2002 and October 1, 2003
shall remain exercisable until October 29, 2007.

      F.    Reasonable office support as mutually agreed, for one year following
the Termination Date.

            As of and after the Termination Date, Executive shall no longer
participate in, accrue service credit or have contributions made on his behalf
under any employee benefit plan sponsored by the Company in respect of periods
commencing on and following the Termination Date, including without limitation,
any plan which is intended to qualify under Section 401(a) of the Internal
Revenue Code of 1986, as amended. Executive shall be entitled to all benefits
accrued up to the Termination Date, to the extent vested under all employee
benefit plans of the Company, in accordance with the terms of such plans.

III.  NON-COMPETITION AGREEMENt

      A.    Notwithstanding the covenants contained in Section 12 of the
Employment Agreement, the Company shall take into reasonable consideration any
request by Executive to waive such covenants in situations in which the Company
reasonably determines that it would not be likely to be materially harmed by
such waiver. The Company agrees that the initial discussion to consider any such
waiver of this provision shall commence with Executive and the Chairman of the
Governance Committee of the Board. The Company shall be under no obligation to
act or refrain from acting in response to any request for waiver by Executive
pursuant to this Section IV.

      B.    Executive acknowledges that if Executive breaches the covenants
contained in Section 12 of the Employment Agreement, Executive shall be deemed
to have failed to abide by the material terms of this Amendment and Release.

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IV.   NONDISPARAGEMENT

            Executive agrees to not disparage, defame, or slander the Company,
its directors, or its executive officers. The Company agrees to instruct its
directors and executive officers to not disparage, defame, or slander Executive,
and the Company will take reasonable measures to cause its directors and
executive officers to not do so.

V.    PRESS RELEASE AND PUBLIC STATEMENTS

            The Parties acknowledge and agree that the Company will issue a
press release in the form attached as Exhibit A following the execution of this
Amendment and Release by the Parties. In addition, any other press release made
by the Company or Executive prior to the CEO Step-Down Date that references
Executive's termination shall be subject to the advance review and approval of
the other Party, which approval shall not be unreasonably withheld or delayed.

VI.   ACKNOWLEDGMENT AND RELEASE

            Executive on his own behalf and on behalf of his successors,
assigns, legal representatives, heirs, executors and administrators
(collectively, the "Executive Releasor"), does hereby remise, release, absolve
and discharge, the Company, all of its respective successors and assigns,
subsidiaries and legal representatives (in their capacities as such), past and
present, and all of its respective directors, officers, shareholders, agents,
employees, attorneys, successors, assigns, legal representatives, heirs,
executors and administrators, past and present, and each and every one of them,
in their individual and corporate capacities as such (collectively, the "Company
Releasee"), from any and all manner of claims, demands, liens, agreements,
contracts, covenants, promises, actions, suits, causes of action, controversies,
obligations, debts, sums of money, accounts, attorneys' fees, damages,
judgments, executions, orders and liabilities of whatever kind or nature in law,
equity or otherwise, whether presently known or unknown, suspected or
unsuspected, (collectively, "Claims"), including, without limitation, any
complaint, charge or cause of action (1) arising out of his employment with the
Company and any of its subsidiaries or affiliates (the "Company Group"), (2)
arising out of his right to purchase, or actual purchase of shares of stock of
the Company, including without limitation, any claims for fraud,
misrepresentation, breach of fiduciary duty, breach of duty under applicable
state corporate law, and securities fraud under any state or federal law, (3)
for wrongful discharge of employment, termination in violation of public policy,
discrimination, breach of contract, both express and implied, breach of a
covenant of good faith and fair dealing, both express and implied, promissory
estoppel, negligent or intentional infliction of emotional distress, negligent
or intentional misrepresentation, negligent or intentional interference with
contract or prospective economic advantage, unfair business practices,
defamation, libel, slander, negligence, personal injury, assault, battery,
invasion of privacy, false imprisonment, and conversion, (4) for a violation of
the federal, or any state constitution, (5) for, or to recover, attorneys' fees,
and (6) for a violation of any federal, state, or municipal statute, including,
but not limited to, the National Labor Relations Act, the Civil Rights Act of
1991, the Americans With Disabilities Act of 1990, Title VII of the Civil Rights
Act of 1964, the Fair Labor Standards Act and the Employee Retirement Income
Security Act of 1974, all as amended, which Executive Releasor now owns or holds
or has at any time heretofore owned or held, or hereafter can, shall or may
have, as against the Company Releasee, or any of them, from the beginning of the
world to the Effective Date, except that any Claims that arise under or are in
connection with (x) the obligations of the Company to Executive Releasor under
this Amendment and Release or the Employment Agreement, (y) any ordinary
commercial liabilities or obligations of any Company Releasee that is a
shareholder, officer or director may have to Executive Releasor as of the date
hereof that are entirely unrelated to (i) the Company Group and (ii) the conduct
of any Company Releasee in holding, owning or managing any interests of the
Company Group and (z) any claims against the Company that Executive Releasor may
have for indemnification under the By-Laws of the Company as in

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effect on the date hereof, the laws of the State of Delaware or any insurance
coverage maintained by or on behalf of the Company for Executive with respect to
his service as an officer and/or director of the Company or any member of the
Company Group.

VII.  AVAILABILITY OF RELIEF

      A.    In the event that Executive fails to abide by any of the material
terms of this Amendment and Release following notice of such failure by the
Company and a reasonable opportunity to cure, the Company may, in addition to
any other remedies it may have, terminate any benefits or payments that are
subsequently due under this Amendment and Release, without waiving the release
granted herein.

      B.    Executive and the Company each acknowledges and agrees that the
remedy at law available to the Company and Executive, respectively, for breach
by the other of any of his or its obligations under this Amendment and Release,
including but not limited to his and its obligations under Sections III, IV, and
V of this Amendment and Release, would be inadequate and that damages flowing
from such a breach may not readily be susceptible to being measured in monetary
terms. Accordingly, Executive and the Company each acknowledges, consents and
agrees that, in addition to any other rights or remedies which the Company or
Executive, respectively, may have at law, in equity or under this Amendment and
Release, upon adequate proof of his or its violation of any such provision of
this Amendment and Release, the Company or Executive, as applicable, shall be
entitled to immediate injunctive relief and may obtain a temporary order
restraining any threatened or further breach, without the necessity of proof of
actual damage.

VIII. MISCELLANEOUS

      A.    Notices. Any notice given pursuant to this Amendment and Release to
any party hereto shall be deemed to have been duly given when mailed by
registered or certified mail, return receipt requested, or by overnight courier,
or when hand delivered as follows:

                           If to the Company:

                           Gartner, Inc.
                           56 Top Gallant Road
                           P.O. Box 10212
                           Stamford, CT 06904-2212
                           Attention:  General Counsel

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                           With a copy to:
                           Wilson Sonsini Goodrich & Rosati, P.C.
                           650 Page Mill Road
                           Palo Alto, CA   94304-1050
                           Attention: Larry Sonsini

                           If to Executive:

                           Michael D. Fleisher
                           28 Laight Street, Apt. 6A
                           New York, New York  10013

                           With a copy to:

                           Paul, Weiss, Rifkind, Wharton & Garrison
                           1285 Avenue of the Americas
                           New York, New York  10019-6064
                           Attention:  Michael J. Segal

or at such other address as either party shall from time to time designate by
written notice, in the manner provided herein, to the other party hereto.

      B.    Successor. This Amendment and Release shall be binding upon and
inure to the benefit of the Parties, their respective heirs, successors and
assigns.

      C.    Taxes. Executive shall be responsible for the payment of any and all
required federal, state, local and foreign taxes incurred, or to be incurred, in
connection with any amounts payable to Executive under this Amendment and
Release. Notwithstanding any other provision of this Amendment and Release, the
Company may withhold from amounts payable under this Amendment and Release all
federal, state, local and foreign taxes that are required to be withheld by
applicable laws and regulations.

      D.    Severability. In the event that any provision of this Amendment and
Release is determined to be invalid or unenforceable, the remaining terms and
conditions of this Amendment and Release shall be unaffected and shall remain in
full force and effect. In addition, if any provision is determined to be invalid
or unenforceable due to its duration and/or scope, the duration and/or scope of
such provision, as the case may be, shall be reduced, such reduction shall be to
the smallest extent necessary to comply with applicable law, and such provision
shall be enforceable, in its reduced form, to the fullest extent permitted by
applicable law.

      E.    Counterparts. This Amendment and Release may be executed by one or
more of the Parties hereto on any number of separate counterparts and all such
counterparts shall be deemed to be one and the same instrument. Each party
hereto confirms that any facsimile copy of such party's executed counterpart of
this Amendment and Release (or its signature page thereof) shall be deemed to be
an executed original thereof.

      F.    Non-Admission. Nothing contained in this Amendment and Release shall
be deemed or construed as an admission of wrongdoing or liability on the part of
Executive or on the part of the Company.

      G.    No Mitigation. Executive shall not be required to mitigate the
amount of any payment provided for pursuant to this Amendment and Release by
seeking other employment and, to the extent that

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Executive obtains or undertakes other employment, the payment shall not be
reduced by the earnings of Executive from the other employment.

      H.    Governing Law/Dispute Resolution. This Amendment and Release shall
be governed by, and construed in accordance with the internal laws of the State
of New York, applicable to contracts made and performed wholly within such state
by residents thereof. The dispute resolution mechanism set forth in Section
13(g) of the Employment Agreement shall apply to disputes between the parties
regarding this Amendment and Release.

      I.    Legal Fees. The Company will pay directly the reasonable fees and
expenses (not to exceed a total of $25,000) of counsel retained by Executive in
connection with the preparation, negotiation and execution of this Amendment and
Release, but only if this Amendment and Release actually are executed. The
payment of such fees and expenses shall be treated by the Company as a "working
condition fringe" under Section 132(d) of the Internal Revenue Code of 1986, as
amended, unless required otherwise by the Internal Revenue Service or applicable
authority issued subsequent to the Effective Date.

      [SIGNATURE PAGE FOLLOWS]

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      IN WITNESS WHEREOF, the undersigned have executed this Amendment and
Release on April 29, 2004.

                                   GARTNER, INC.

                                   By:  /s/ Maynard G.Webb, Jr.
                                        -----------------------
                                        Maynard G. Webb, Jr.
                                        on behalf of the Compensation Committee

                                   EXECUTIVE

                                   /s/ Michael D. Fleisher
                                   ------------------------------------
                                   Michael D. Fleisher

                                       52FORM OF EMPLOYMENT AGREEMENT

 

Exhibit 10.01

EMPLOYMENT AGREEMENT

     EMPLOYMENT AGREEMENT, dated as of July 1, 1997, by and between The
Hartford Financial Services Group, Inc., a Delaware corporation (the
“Company”), and Ramani Ayer (“Executive”).

W I T N E S S E T H:

          WHEREAS, the Company wishes to recognize the substantial services that
Executive has provided to the Company; and

          WHEREAS, the Company desires that Executive continue to perform such
services and to enter into an agreement embodying the terms of such employment
(the “Agreement”); and

          WHEREAS, Executive desires to continue such employment and enter into such
Agreement;

          NOW, THEREFORE, in consideration of the mutual covenants herein contained,
the Company and Executive hereby agree as follows:

	1.	 	Employment.

(a) Agreement to Employ. Upon the terms and subject to the conditions of
this Agreement, the Company hereby agrees to continue to employ Executive
and Executive hereby agrees to continue his employment by the Company.

(b) Term of Employment. Except as otherwise provided below, the Company
shall employ Executive for the period commencing on July 1, 1997 (the
“Commencement Date”) and ending on the third anniversary of the Commencement
Date. At the expiration of the original term or any extended term (each a
“Renewal Date”), Executive’s employment hereunder shall be extended
automatically, upon the same terms and conditions, for successive one-year
periods, unless either party shall give written notice to the other of its
intention not to renew such employment at least fifteen months prior to such
Renewal Date. Without limiting the generality of the foregoing, upon the
occurrence of a Change of Control (as defined below), the term of this
Agreement shall be extended automatically without any action by either party
until the third anniversary of such Change of Control. Notwithstanding the
foregoing, if not previously terminated pursuant to Sections 1(b), 5(a) or
6(a), the term of this Agreement shall terminate on the last day of the
month in which Executive attains age 65, and such a termination upon
Executive reaching age 65 shall be deemed to be a Termination Due to
Retirement for purposes of this Agreement. The period during which
Executive is employed pursuant to this Agreement, including any extension
thereof in accordance with this Section 1(b), shall be referred to as the
“Employment Period.”

1

 

	2.	 	Position and Duties.

During the Employment Period, Executive shall serve as Chairman, President and
Chief Executive Officer of the Company, and/or in such other position or
positions with the Company or its affiliates commensurate with his position and
experience as the Board of Directors of the Company (the “Board”) shall from
time to time specify. During the Employment Period, Executive shall have the
duties, responsibilities and obligations customarily assigned to individuals
serving in the position or positions in which Executive serves hereunder and
such other duties, responsibilities and obligations as the Board shall from
time to time specify. Executive shall devote his full time to the services
required of him hereunder, except for vacation time and reasonable periods of
absence due to sickness, personal injury or other disability, and shall use his
best efforts, judgement, skill and energy to perform such services in a manner
consonant with the duties of his position and to improve and advance the
business and interests of the Company and its affiliates. During the
Employment Period, Executive shall comply with the Code of Conduct of the
Company. Unless and to the extent inconsistent with the terms of any published
Company policy or code of conduct as in effect on the date hereof and as
hereafter amended, nothing contained herein shall preclude Executive from (a)
serving on the board of directors of any business corporation with the consent
of the Board, (b) serving on the board of, or working for, any charitable or
community organization, or (c) pursuing his personal financial and legal
affairs, so long as the foregoing activities, individually or collectively, do
not interfere with the performance of Executive’s duties hereunder or violate
any of the provisions of Section 9 hereof.

	3.	 	Compensation.

(a) Base Salary. During the Employment Period, the Company shall pay
Executive a base salary at the annual rate as in effect on the date hereof.
The annual base salary payable under this paragraph shall be reduced,
however, to the extent that Executive elects to defer such salary under the
terms of any deferred compensation or savings plan or arrangement maintained
or established by the Company or its affiliates. The Board or the
appropriate committee of the Board may in its discretion periodically review
Executive’s base salary in light of competitive practices, the base salaries
paid to other executive officers of the Company and the performance of
Executive and the Company and its applicable affiliates, and may, in its
discretion, increase such base salary by an amount it determines to be
appropriate. Any such increase shall not reduce or limit any other
obligation of the Company hereunder. Executive’s base salary (as set forth
above or as may be increased from time to time) shall not be reduced
following any Change of Control, but may be reduced prior to a Change of
Control solely pursuant to a cost-saving plan or structural realignment of
total compensation elements that includes all senior executives and only to
the extent that such reduction is proportionate to the reductions applicable
to other senior executives. Executive’s annual base salary payable
hereunder, as it may be increased or reduced from time to time as provided
herein and without reduction for any amounts deferred as described above,
shall be referred to herein as “Base Salary.” The Company shall pay
Executive the portion of his Base Salary not deferred not less frequently
than in equal monthly installments.

2

 

(b) Annual Bonus. For each calendar year ending during the Employment
Period, Executive shall have the opportunity to earn and receive an annual
bonus, based on the achievement of target levels of performance, equal to
the percentage of his Base Salary used to calculate such annual bonus as of
the date hereof. Executive’s annual bonus opportunity may be increased
above such percentage from time to time by the Board or the appropriate
committee thereof. Executive’s annual bonus opportunity shall not be reduced
following any Change of Control, but may be reduced prior to a Change of
Control solely pursuant to a cost-saving plan or structural realignment of
total compensation elements that includes all senior executives and only to
the extent that such reduction is proportionate to the reductions applicable
to other senior executives. Executive’s annual bonus opportunity, as it may
be increased or reduced from time to time as provided herein, shall be
referred to herein as “Target Bonus.” The actual bonus, if any, payable for
any such year shall be determined in accordance with the terms of the
Company’s Annual Executive Bonus Program or any successor annual incentive
plan (the “Annual Plan”) based upon the performance of the Company and/or
its applicable affiliates and/or Executive against target objectives
established under such Annual Plan. Subject to Executive’s election to
defer all or a portion of any annual bonus payable hereunder pursuant to the
terms of any deferred compensation or savings plan or arrangement maintained
or established by the Company or its affiliates, any annual bonus payable
under this Section 3(b) shall be paid to Executive in accordance with the
terms of the Annual Plan.

(c) Long-term Incentive Compensation. During the Employment Period,
Executive shall participate in all of the Company’s existing and future
long-term incentive compensation programs for key executives at a level
commensurate with his position with the Company and consistent with the
Company’s then current policies and practices, as determined in good faith
by the Board or the appropriate committee of the Board.

	4.	 	Benefits, Perquisites and Expenses.

(a) Benefits. During the Employment Period, Executive (and, to the extent
applicable, his dependents) shall be eligible to participate in or be
covered under (i) each welfare benefit plan or program maintained or as
hereafter amended or established by the Company or its applicable
affiliates, including, without limitation, each group life, hospitalization,
medical, dental, health, accident or disability insurance or similar plan or
program of thereof, and (ii) each pension, retirement, savings, deferred
compensation, stock purchase or other similar plan or program maintained or
as hereafter amended or established by the Company or its applicable
affiliates, in each case to the extent that Executive is eligible to
participate in any such plan or program under the generally applicable
provisions thereof. Nothing in this Section 4(a) shall limit the Company’s
right to amend or terminate any such plan or program in accordance with the
procedures set forth therein or as permitted by applicable law.

(b) Perquisites. For each calendar year during the Employment Period,
Executive shall be entitled to at least the number of paid vacation days per
year that Executive is entitled to as of the date

3

 

hereof, and shall also be entitled to receive such other perquisites as are
generally provided to him as of the date hereof or are hereafter provided to
other similarly situated senior executives of the Company in accordance with
the then current policies and practices of the Company.

(c) Business Expenses. During the Employment Period, the Company shall pay
or reimburse Executive for all reasonable business expenses incurred or paid
by Executive in the performance of Executive’s duties hereunder, upon
presentation of expense statements or vouchers and such other information as
the Company may require and in accordance with the generally applicable
policies and procedures of the Company.

(d) Office and Support Staff. During the Employment Period, Executive
shall be entitled to an office with furnishings and other material
appointments, and to secretarial and other assistance, at a level that is at
least commensurate with the foregoing provided to him as of the date hereof
or is hereafter provided to other similarly situated senior executives of
the Company.

(e) Indemnification. The Company shall indemnify Executive and hold
Executive harmless from and against any claim, loss or cause of action,
regardless whether asserted during or after the Employment Period, arising
from or out of Executive’s performance as an officer, director or employee of
the Company or any of its affiliates or in any other capacity, including any
fiduciary capacity in which Executive serves at the request of the Company,
to the maximum extent permitted by applicable law and under the Certificate
of Incorporation and By-Laws of the

Company, as may be amended from time to time (the “Governing Documents”),
provided that in no event shall the protection afforded to Executive be less
than that afforded under the Governing Documents as in effect on the
Commencement Date.

	5.	 	Termination of Employment.

The provisions of this Section 5 shall apply prior to the occurrence of a
Change of Control and, if Executive is still in the Company’s employ, shall
again become applicable upon the third anniversary of such Change of Control.

(a)
Early Termination of the Employment Period. Notwithstanding
Section 1(b) hereof, the Employment Period shall end upon the earliest
to occur of (i) a Termination For Cause, (ii) a Termination Without
Cause, (iii) a Voluntary Termination, (iv) a Termination Due to
Retirement, (v) a Termination Due to Disability, or (vi) a Termination
Due to Death.

(b)
Notice of Termination. Communication of termination under this
Section 5 shall be made to the other party by Notice of Termination in
the case of (i) a Termination For Cause, (ii) a Termination Without
Cause, or (iii) a Voluntary Termination.

(c) Benefits Payable Upon Termination; Rules for Determining Reason
for Termination.

4

 

(i) Benefits Payable Upon Termination. Following the end of the
Employment Period pursuant to Section 5(a), Executive (or, in the
event of his death, his surviving spouse, if any, or if none, his
estate) shall be paid the type or types of compensation
determined to be payable in accordance with the following table,
such payment to be made in the form specified in such table and
at the time established pursuant to Section 7 hereof.
Capitalized terms used in such table shall have the meanings set
forth in Section 5(d) hereof.

(ii) Rules for Determining Reason for Termination.

(A) If a Voluntary Termination occurs on a date that
Executive is eligible for Retirement as defined in The
Hartford Investment and Savings Plan, as may be amended
from time to time, or any successor plan thereof (the
“Savings Plan”), such Voluntary Termination shall instead
be treated as a Termination Due to Retirement solely for
purposes of this Section 5.

(B) No Termination Without Cause shall be treated as a
Termination Due to Retirement or a Termination Due to
Disability for purposes of any Pro Rata Target Bonus,
Severance Payment, Equity Awards or Vested Benefits
Enhancement under this Section 5, notwithstanding the fact
that, either on, before or after the date of termination of
the Employment Period with respect thereto, (I) Executive
was eligible for Retirement as defined in the Savings Plan,
(II) Executive requested to be treated as a retiree for
purposes of the Savings Plan or any other plan or program
of the Company or its affiliates, or (III) Executive or the
Company could have terminated Executive’s employment in a
Termination Due to Disability hereunder.

5

 

BENEFITS PAYABLE : NON-CHANGE OF CONTROL

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Welfare
	 	 	Accrued	 	Pro Rata Target	 	Severance	 	 	 	 	 	Vested Benefits	 	Benefits
	BENEFIT:
	 	Salary
	 	Bonus
	 	Payment
	 	Equity Awards
	 	Vested Benefits
	 	Enhancement
	 	Continuation

	FORM OF PAYMENT:

	 	Lump
Sum

	 	Lump
Sum

	 	Lump
Sum

	 	Determined Under

the Applicable Plan

	 	Determined Under

the Applicable Plan

	 	Lump
Sum

	 	Determined Under

the Applicable Plan

	Termination For

Cause

	 	Payable
	 	Not Payable
	 	Not Payable
	 	Not Payable
	 	Determined Under

the Applicable Plan
	 	Not Payable
	 	Not

Available
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Termination Without

Cause

	 	Payable
	 	Payable
	 	Payable
	 	Options /Restricted

Stock:

Payable

Other Equity

Awards: Determined

Under the

Applicable Plan
	 	Determined Under

the Applicable Plan
	 	Payable
	 	Available
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Voluntary

Termination

	 	Payable
	 	Determined Under

the Applicable Plan
	 	Not

Payable
	 	Determined Under

the Applicable Plan
	 	Determined Under

the Applicable Plan
	 	Not Payable
	 	Not Available
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Termination Due to
Retirement

	 	Payable
	 	Determined Under

the Applicable Plan
	 	Not Payable
	 	Determined Under

the Applicable Plan
	 	Determined Under

the Applicable Plan
	 	Not Payable
	 	Available
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Termination Due to
Disability

	 	Payable
	 	Payable
	 	Not Payable
	 	Determined Under

the Applicable Plan
	 	Determined Under

the Applicable Plan
	 	Not Payable
	 	Available
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Termination Due to
Death

	 	Payable
	 	Payable
	 	Not Payable
	 	Determined Under

the Applicable Plan
	 	Determined Under

the Applicable Plan
	 	Not Payable
	 	Not Available

6

 

(d) Definitions.

“Accrued Salary” means any Base Salary earned, but unpaid, for
services rendered to the Company on or prior to the date on which the
Employment Period ends pursuant to Section 5(a) (other than Base
Salary deferred pursuant to Executive’s election, as contemplated by
Section 3(a) hereof), plus any vacation pay accrued by Executive as
of such date.

“Available” means that the particular benefit shall be made available
to Executive to the extent specifically provided herein or required
by applicable law.

“Determined Under the Applicable Plan” means that the determination
of whether a particular benefit shall or shall not be paid to
Executive, and, where specifically required by this Agreement, the
timing or form of any benefit payment, shall be made solely by
application of the terms of the plan or program providing such
benefit, except to the extent that the terms of such plan or program
are expressly superseded or modified by this Agreement.

“Equity Awards” means the outstanding stock option, restricted
stock, performance share and other equity or long-term incentive
compensation awards, if any, held by Executive as of the date of his
termination.

“ERPs” means any excess retirement plans maintained or as hereafter
amended or established by the Company or its applicable affiliates.

“ESPs” means any excess investment and savings plans maintained or as
hereafter amended or established by the Company or its applicable
affiliates.

“Lump Sum” means a single lump sum cash payment.

“Not Available” means that the particular benefit shall be not be
made available to Executive, except to the extent required by
applicable law.

“Notice of Termination” means (i) in the case of a Termination For
Cause, a written notice given by the Company to Executive within 30
calendar days of the Company’s having actual knowledge of the events
giving rise to such Termination For Cause, (ii) in the case of a
Termination Without Cause, a written notice given by the Company to
Executive at least 30 calendar days before the effective date of such
Termination Without Cause, and (iii) in the case of a Voluntary
Termination, a written notice given by Executive to the Company
indicating the effective date of Executive’s termination of the
Employment Period in such Voluntary Termination, such effective date
to be no earlier than 30 days following the date such notice is
received by the Company from Executive.

7

 

“Not Payable” means (i) with respect to benefits other than Equity
Awards, such benefits shall not be paid or otherwise provided to
Executive, and (ii) with respect to Equity Awards, such Equity
Awards, to the extent unvested, unexercisable, or subject to
restrictions that have not yet lapsed, shall be forfeited and/or
canceled as of the date of termination of the Employment Period,
unless otherwise determined by the Board or the appropriate committee
of the Board in its discretion.

“Payable” means (i) with respect to benefits other than those
described in clause (ii) of this paragraph, such benefits shall be
paid to Executive in the amount, at the time, and in the form
specified herein, and (ii) with respect to benefits described in this
clause (ii), the following shall apply solely in the event of a
Termination Without Cause, notwithstanding anything in the applicable
plan or program to the contrary: (A) with respect to any outstanding
stock options not yet expired as of the date of termination of the
Employment Period, Executive shall be treated as though he remained
in the employ of the Company for the two year period following such
date, and except to the extent that any such options first expire
during such period under the applicable plan or program, (I) any such
options that would have become vested over such two year period
solely by reason of Executive remaining in the employ of the Company
during such period shall become immediately vested and
nonforfeitable, (II) with respect to any options that by their terms
would vest if the stock of the Company or an affiliate were to reach
a specified market price, such options shall become vested and
nonforfeitable if and when such stock reaches such price during such
two year period, and (III) Executive shall have an additional two
years to exercise any vested options (beyond the time to exercise
such options permitted under the applicable plan or program), and (B)
with respect to any restricted stock subject to restrictions that
have not yet lapsed as of the date of termination of the Employment
Period, such restrictions shall be deemed to have lapsed and such
restricted stock shall become immediately vested and nonforfeitable
as of such date.

“Pro-Rata Target Bonus” means an amount equal to the product of: (i)
an amount equal to the Target Bonus Executive would have been
entitled to receive under Section 3(b) for the calendar year in which
the Employment Period terminates, and (ii) a fraction (the “Service
Fraction”), the numerator of which is equal to the number of rounded
months in such calendar year which have elapsed as of the date of
such termination, and the denominator of which is 12; provided that,
if the Employment Period terminates in the last quarter of any
calendar year, the Pro-Rata Target Bonus shall be the amount
determined under the above formula or, if greater, the product of:
(A) the bonus that would have been paid to Executive based on actual
performance for such calendar year, and (B) the Service Fraction.

8

 

“Severance Payment” means an amount equal to two times the sum of:
(i) Executive’s Base Salary, and (ii) Executive’s Target Bonus
amount under Section 3(b) hereof for the calendar year in which the
Employment Period terminates.

“Termination Due to Death” means a termination of Executive’s
employment due to the death of Executive.

“Termination Due to Disability” means (i) a termination of
Executive’s employment by the Company as a result of a determination
by the Board or the appropriate committee thereof that Executive has
been incapable of substantially fulfilling the positions, duties,
responsibilities and obligations set forth in this Agreement on
account of physical, mental or emotional incapacity resulting from
injury, sickness or disease for a period of (A) at least four
consecutive months, or (B) more than six months in any twelve month
period, or (ii) Executive’s termination of employment on account of
Disability as defined in The Hartford Investment and Savings Plan, as
may be amended from time to time.

“Termination Due to Retirement” means Executive’s termination of
employment on account of Executive’s Retirement as defined in The
Hartford Investment and Savings Plan, as may be amended from time to
time.

“Termination For Cause” means a termination of Executive’s employment
by the Company for any of the following reasons: (i) Executive is
convicted of or enters a plea of guilty or nolo contendere to a
felony, a crime of moral turpitude, dishonesty, breach of trust or
unethical business conduct, or any crime involving the business of
the Company or its affiliates; (ii) in the performance of his duties
hereunder or otherwise to the detriment of the Company or its
affiliates, Executive engages in (A) willful misconduct, (B) willful
or gross neglect, (C) fraud, (D) misappropriation, (E) embezzlement,
or (F) theft; (iii) Executive willfully fails to adhere to the
policies and practices of the Company or devote substantially all of
his business time and effort to the affairs thereof, or disobeys the
directions of the Board to do either of the foregoing; (iv) Executive
breaches this Agreement in any material respect; (v) Executive is
adjudicated in any civil suit to have committed, or acknowledges in
writing or in any agreement or stipulation his commission, of any
theft, embezzlement, fraud or other intentional act of dishonesty
involving any other person; or (vi) Executive violates the Code of
Conduct of the Company. Executive shall be permitted to respond and
defend himself before the Board within 30 days after delivery to
Executive of written notification of any proposed Termination For
Cause that specifies in detail the reasons for such termination. If
the majority of the members of the Board (excluding Executive) do not
confirm that the Company had grounds for a Termination For Cause
within 30 days after Executive has had his hearing before the Board,
Executive shall have the option of treating his employment as not

9

 

having terminated or as having been terminated in a Termination
Without Cause.

“Termination Without Cause” means any involuntary termination of
Executive’s employment by the Company other than a Termination For
Cause, a Termination Due to Disability or a Termination Due to Death.

“Vested Benefits” means amounts that are vested or that Executive is
otherwise entitled to receive, without the performance by Executive
of further services or the resolution of a contingency, under the
terms of or in accordance with any investment and savings plan or
retirement plan of the Company or its affiliates, and any ERPs or
ESPs related thereto, and any deferred compensation or employee stock
purchase plan or similar plan or program of the Company or its
affiliates.

“Vested Benefits Enhancement” means (i) a cash amount equal to the
present value, calculated using a discount rate equal to the then
prevailing applicable Federal rate as determined under Section
1274(d) of the Internal Revenue Code of 1986, as amended (the
“Code”), of the additional retirement benefits that would have been
payable or available to Executive under any ERPs, based on (A) the
age and service Executive would have attained or completed had
Executive continued in the Company’s employ until the second
anniversary of the date of termination of the Employment Period, and
(B) where compensation is a relevant factor, his pensionable
compensation as of such date, such compensation to include, on the
same terms as apply to other executives, any Severance Payment made
to Executive, and (ii) solely for purposes vesting in any benefits
under any ESPs, Executive shall be treated as having continued in the
Company’s employ until the second anniversary of the date of
termination of the Employment Period.

“Voluntary Termination” means any voluntary termination of
Executive’s Employment by Executive pursuant to this Section 5, other
than a Termination Due to Retirement or a Termination Due to
Disability by Executive.

“Welfare Benefits Continuation” means that until the second
anniversary of the date of termination of the Employment Period,
Executive and, if applicable, his dependents shall be entitled to
continue participation in the life and health insurance benefit plans
of the Company or its affiliates in which Executive and/or such
dependents were participating as of the date of termination of the
Employment Period, and such other welfare benefit plans thereof in
which the Company is required by law to permit the participation of
Executive and/or his dependents, (collectively, the “Welfare Benefit
Plans”). Such participation shall be on the same terms and
conditions (including the requirement that Executive pay any premiums
generally paid by an employee) as would apply if Executive were still
in the employ of the Company;

10

 

provided that the continued participation of Executive and/or his
dependents in such Welfare Benefit Plans shall cease on such earlier
date as Executive may become eligible for comparable welfare benefits
provided by a subsequent employer. To the extent that Welfare
Benefits Continuation cannot be provided under the terms of the
applicable plan, policy or program, the Company shall provide a
comparable benefit under another plan or from the Company’s general
assets.

	6.	 	Termination Following a Change of Control or Potential Change of Control.

This Section 6 shall apply (instead of Section 5) during the period commencing
upon a Change of Control and continuing until the third anniversary thereof;
provided that, in the event that Executive’s employment is terminated by the
Company in a Termination Without Cause after the occurrence of a Potential
Change of Control and a Change of Control occurs within one year following the
date of such termination, then solely for purposes of this Agreement, Executive
shall be deemed to have remained in the Company’s employ until the occurrence
of the Change of Control and thereafter to have then been terminated by the
Company in a Termination Without Cause. As a result, Executive shall be
entitled to receive the excess of (i) the benefits payable in the event of a
Termination Without Cause under this Section 6, over (ii) the amount of any
benefits payable to Executive under Section 5.

(a) Early Termination of the Employment Period. Notwithstanding Section
1(b) hereof, the Employment Period shall end upon the earliest to occur of
(i) a Termination For Cause, (ii) a Termination Without Cause, (iii) a
Voluntary Termination Within 180 Days, (iv) a Voluntary Termination After
180 Days, (v) a Termination For Good Reason, (vi) a Termination Due to
Retirement, (vii) a Termination Due to Disability, or (viii) a Termination
Due to Death.

(b) Notice of Termination. Communication of termination under this Section
6 shall be made to the other party by Notice of Termination in the case of
(i) a Termination For Cause, (ii) a Termination Without Cause, (iii) a
Voluntary Termination Within 180 Days, (iv) a Voluntary Termination After
180 Days, or (v) a Termination For Good Reason.

11

 

(c) Benefits Payable Upon Termination; Rules for Determining Reason for
Termination.

(i) Benefits Payable Upon Termination. Following the end of the
Employment Period, Executive (or, in the event of his death, his

surviving spouse, if any, or if none, his estate) shall be paid the
type or types of compensation determined to be payable in accordance
with the following table, such payment to be made in the form specified
in such table and at the time established pursuant to Section 7 hereof.
Capitalized terms used in such table (and otherwise in this Section 6)
that are defined in Section 5, and not specifically defined in Section
6(d) hereof, shall have the meanings ascribed thereto under Section 5.
Where such a capitalized term is defined solely in Section 6(d), or in
both Section 5 and Section 6(d), such term shall have the meaning
ascribed to it in Section 6(d).

(ii) Rules for Determining Reason for Termination.

(A) No Termination Without Cause, Voluntary Termination Within
180
Days or Termination For Good Reason shall be treated as a
Termination
Due to Retirement or a Termination Due to Disability for purposes
of any
Pro Rata Target Bonus, Severance Payment, Equity Awards or Vested
Benefits Enhancement under this Section 6, notwithstanding the
fact that, either on, before or after the Date of Termination
with respect thereto,
(I) Executive was eligible for Retirement as defined in the
Savings Plan,
(II) Executive requested to be treated as a retiree for purposes
of the Savings
Plan or any other plan or program of the Company or its
affiliates, or
(III) Executive or the Company could have terminated Executive’s
employment in a Termination Due to Disability hereunder.

(B) No Termination Due to Retirement shall be treated as a
Voluntary
Termination After 180 Days for purposes of this Section 6,
notwithstanding the
fact that the Date of Termination for such Termination Due to
Retirement may occur within 180 days following a Change of
Control.

(C) Notwithstanding any provision in this Agreement to the
contrary, in the event of a Change of Control as described in
clause (iii) or clause (iv) of the definition of the term change
of Control in Section 6(d) of this Agreement, if the employment
of Executive involuntarily terminates on or after the date of a
shareholder approval described in either of such clauses but
before the date of a consummation described in either of such
clauses, the date of termination of Executive’s employment shall
be deemed for purposes of this Agreement to be the day following
the date of the applicable consummation.

12

 

BENEFITS PAYABLE: CHANGE OF CONTROL

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Accrued	 	Pro Rata Target	 	Severance	 	 	 	 	 	Vested Benefits	 	Welfare
	BENEFIT
	 	Salary
	 	Bonus
	 	Payment
	 	Equity Awards
	 	Vested Benefits
	 	Enhancement
	 	Benefits Continuation

	FORM OF PAYMENT

	 	Lump Sum

	 	Lump Sum

	 	Lump Sum

	 	Determined Under

the Applicable Plan

	 	Determined Under

the Applicable Plan

	 	Lump Sum

	 	Determined Under the

Applicable Plan

	Termination For

Cause

	 	Payable
	 	Not Payable
	 	Not Payable
	 	Determined Under

the Applicable Plan
	 	Determined Under

the Applicable Plan
	 	Not Payable
	 	Not Available
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Termination Without

Cause

	 	Payable
	 	Payable
	 	Payable
	 	Determined Under

the Applicable Plan
	 	Determined Under

the Applicable Plan
	 	Payable
	 	Available
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Voluntary

Termination Within

180 Days

	 	Payable
	 	Payable
	 	Payable
	 	Determined Under

the Applicable Plan
	 	Determined Under

the Applicable Plan
	 	Payable
	 	Available
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Voluntary

Termination

After

180 Days

	 	Payable
	 	Not Payable
	 	Not Payable
	 	Determined Under

the Applicable Plan
	 	Determined Under

the Applicable Plan
	 	Not Payable
	 	Not Available
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Termination For

Good Reason

	 	Payable
	 	Payable
	 	Payable
	 	Determined Under

the Applicable Plan
	 	Determined Under

the Applicable Plan
	 	Payable
	 	Available
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Termination Due to
Retirement

	 	Payable
	 	Determined Under

the Applicable Plan
	 	Not Payable
	 	Determined Under

the Applicable Plan
	 	Determined Under

the Applicable Plan
	 	Not Payable
	 	Available
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Termination Due to
Disability

	 	Payable
	 	Payable
	 	Not Payable
	 	Determined Under

the Applicable Plan
	 	Determined Under

the Applicable Plan
	 	Not Payable
	 	Available
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Termination Due to
Death

	 	Payable
	 	Payable
	 	Not Payable
	 	Determined Under

the Applicable Plan
	 	Determined Under

the Applicable

Plan
	 	Not Payable
	 	Not Available

13

 

(d) Definitions.

“Beneficial Owner” means any Person who, directly or indirectly, has the
right to vote or dispose of or has “beneficial ownership” (within the
meaning of Rule 13d-3 under the Securities and Exchange Act of 1934, as
amended (the “Act”)) of any securities of a company, including any such
right pursuant to any agreement, arrangement or understanding (whether or
not in writing), provided that: (i) a Person shall not be deemed the
Beneficial Owner of any security as a result of an agreement, arrangement or
understanding to vote such security (A) arising solely from a revocable
proxy or consent given in response to a public proxy or consent solicitation
made pursuant to, and in accordance with, the Exchange Act and the
applicable rules and regulations thereunder, or (B) made in connection with,
or to otherwise participate in, a proxy or consent solicitation made, or to
be made, pursuant to, and in accordance with, the applicable provisions of
the Exchange Act and the applicable rules and regulations thereunder, in
either case described in clause (A) or (B) above, whether or not such
agreement, arrangement or understanding is also then reportable by such
Person on Schedule 13D under the Exchange Act (or any comparable or
successor report); and (ii) a Person engaged in business as an underwriter
of securities shall not be deemed to be the Beneficial Owner of any security
acquired through such Person’s participation in good faith in a firm
commitment underwriting until the expiration of forty days after the date of
such acquisition.

“Change of Control” means:

(i) a report on Schedule 13D shall be filed with the Securities and
Exchange Commission pursuant to Section 13(d) of the Act disclosing
that any Person other than the Company or a subsidiary of the Company
or any employee benefit plan sponsored by the Company or a subsidiary
of the Company is the Beneficial Owner of twenty percent or more of
the outstanding stock of the Company entitled to vote in the election
of directors of the Company;

(ii) any Person, other than the Company or a subsidiary of the
Company or a subsidiary of the Company shall purchase shares pursuant
to a tender offer or exchange offer to acquire any stock of the
Company (or securities convertible into stock) entitled to vote in
the election of directors of the Company for cash, securities or any
other consideration, provided that after consummation of the offer,
the Person in question is the Beneficial Owner of fifteen percent or
more of the outstanding stock of the Company entitled to vote in the
election of directors of the Company (calculated as provided in
paragraph (d) of Rule 13d-3 under the Act in the case of rights to
acquire stock);

(iii) any merger, consolidation, recapitalization or reorganization
of the Company approved by the stockholders of the Company shall be
consummated, other than any such transaction immediately following
which the persons who were the Beneficial Owners of the outstanding
securities of the Company entitled to vote in the election of
directors of the Company

14

 

immediately prior to such transaction are the Beneficial Owners of at
least 55% of the total voting power represented by the securities of
the entity surviving such transaction entitled to vote in the
election of directors of such entity (or the ultimate parent of such
entity) in substantially the same relative proportions as their
ownership of the securities of the Company entitled to vote in the
election of directors of the Company immediately prior to such
transaction; provided that, such continuity of ownership (and
preservation of relative voting power) shall be deemed to be
satisfied if the failure to meet such threshold (or to preserve such
relative voting power) is due solely to the acquisition of voting
securities by an employee benefit plan of the Company, such surviving
entity or any subsidiary of such surviving entity;

(iv) any sale, lease, exchange or other transfer (in one transaction
or a series of related transactions) of all or substantially all the
assets of the Company approved by the stockholders of the Company
shall be consummated; or

(v) within any 24 month period, the persons who were directors of the
Company immediately before the beginning of such period (the
“Incumbent Directors”) shall cease (for any reason other than death)
to constitute at least a majority of the Board or the board of
directors of any successor to the Company, provided that any director
who was not a director at the beginning of such period shall be
deemed to be an Incumbent Director if such director (A) was elected
to the Board by, or on the recommendation of or with the approval of,
at least two-thirds of the directors who then qualified as Incumbent
Directors either actually or by prior operation of this clause (v),
and (B) was not designated by a person who has entered into an
agreement with the Company to effect a transaction described in
clause (iii) or (iv) of this definition of the term Change of Control
in Section 6(d) of this Agreement.

“Date of Termination” means (i) in the case of a termination of the
Employment Period for which a Notice of Termination is required, the date of
receipt of such Notice of Termination or, if later, the date specified
therein, as the case may be, or (ii) in all other cases, the actual date on
which Executive’s employment terminates during the Employment Period.

“Not Payable” means that a particular benefit shall not be paid or otherwise
provided to Executive.

“Notice of Termination” means (i) in the case of a Termination For Cause, a
written notice given by the Company to Executive, within 30 calendar days of
the Company’s having actual knowledge of the events giving rise to such
termination, (ii) in the case of a Termination Without Cause, a written
notice given by the Company to Executive at least 30 calendar days before
the effective date of such Termination Without Cause, (iii) in the case of a
Voluntary Termination Within 180 Days or a Voluntary Termination After 180
Days, a written notice given by Executive to the Company at least 30
calendar days before the effective date of such termination, and (iv) in the

15

 

case of a Termination For Good Reason, a written notice given by Executive
to the Company within 180 days of Executive’s having actual knowledge of the
events giving rise to such Termination For Good Reason, and which (A)
indicates the specific termination provision in this Agreement relied upon,
(B) sets forth in reasonable detail the facts and circumstances claimed to
provide a basis for termination of the Executive’s employment under the
provision so indicated, and (C) if the termination date is other than the
date of receipt of such notice, specifies the termination date of this
Agreement (which date shall be not more than 15 days after the giving of
such notice). The failure by Executive to set forth in such Notice of
Termination any fact or circumstance that contributes to a showing of Good
Reason shall not waive any right of Executive hereunder or preclude
Executive from asserting such fact or circumstance in enforcing his rights
hereunder.

“Payable” means that a particular benefit shall be paid to Executive in the
amount, at the time, and in the form specified herein.

“Person” has the meaning ascribed to such term in Section 3(a)(9) of the
Act, as supplemented by Section 13(d)(3) of the Act; provided, however, that
Person shall not include (i) the Company, any subsidiary of the Company or
any other Person controlled by the Company, (ii) any trustee or other
fiduciary holding securities under any employee benefit plan of the Company
or of any subsidiary of the Company, or (iii) a corporation owned, directly
or indirectly, by the stockholders of the Company in substantially the same
proportions as their ownership of securities of the Company.

“Potential Change of Control” means:

(i) a Person shall commence a tender offer, which if successfully
consummated, would result in such Person being the Beneficial Owner
of at least 15% of the stock of the Company entitled to vote in the
election of directors of the Company;

(ii) the Company shall enter into an agreement the consummation of
which shall constitute a Change of Control of the Company;

(iii) solicitation of proxies for the election of directors of the
Company by anyone other than the Company, which, if such directors
were elected, would result in the occurrence of a Change of Control
described in Section 6(d) of this Agreement; or

(iv) any other event shall occur which is deemed to be a Potential
Change of Control by the Board or the appropriate Committee thereof.

“Severance Payment” means a cash amount equal to three times the sum of (i)
Executive’s Base Salary at the rate in effect as of the date on which the
Employment Period terminates, and (ii) Executive’s Target Bonus for such
year.

16

 

“Termination For Cause” means the Company’s termination of Executive’s
employment due to (i) Executive’s conviction of a felony; (ii) an act or
acts of extreme dishonesty or gross misconduct on Executive’s part which
result or are intended to result in material damage to the Company’s
business or reputation; or (iii) repeated material violations by Executive
of his obligations under Section 2 of this Agreement, which violations are
demonstrably willful and deliberate on Executive’s part and which result in
material damage to the Company’s business or reputation. Executive shall be
permitted to respond and defend himself before the Board within 30 days
after delivery to Executive of written notification of any proposed
Termination for Cause which specifies in detail the reasons for such
termination. If the majority of the members of the Board (excluding
Executive) do not confirm that the Company had grounds for a Termination For
Cause within 30 days after Executive has had his hearing before the Board,
Executive shall have the option of treating his employment as not having
terminated or as having been terminated pursuant to a Termination Without
Cause.

“Termination For Good Reason” means the occurrence of any of the following
after the occurrence of a Potential Change of Control or a Change of
Control:

(i) (A) the assignment to Executive of any duties inconsistent in any
material adverse respect with Executive’s position, duties, authority
or responsibilities as contemplated by Section 2 of this Agreement,
or (B) any other material adverse change in such position, including
titles, authority or responsibilities;

(ii) any failure by the Company to comply with any of the provisions
of Sections 3 and 4 of this Agreement at a level of least equal to
that in effect immediately preceding the Change of Control or a
Potential Change of Control, other than an insubstantial or
inadvertent failure remedied by the Company promptly after receipt of
notice thereof given by Executive;

(iii) the Company’s requiring Executive to be based at any office or
location more than 25 miles from the location at which he performed
his services specified under Section 2 hereof immediately prior to
the Change of Control or a Potential Change of Control, except for
travel reasonably required in the performance of Executive’s
responsibilities;

(iv) any failure by the Company to obtain the assumption and
agreement to perform this Agreement by a successor as contemplated by
Section 10(d) hereof; or

(v) any attempt by the Company to terminate the Executive’s
employment in a Termination For Cause that is determined by the Board
pursuant to Section 5(c) hereof, or in a proceeding pursuant to
Section 9 or Section 10 hereof, not to constitute a Termination For
Cause.

17

 

Notwithstanding the foregoing, a termination of Executive’s employment shall
not be treated as a Termination For Good Reason (I) if Executive shall have
consented in writing to the occurrence of the event giving rise to the claim
of Termination For
Good Reason, or (II) if Executive shall have delivered a Notice of
Termination to the Company, and the facts and circumstances specified
therein as providing a basis for such Termination For Good Reason are cured
by the Company within 10 days of its receipt of such Notice of Termination.

“Vested Benefits Enhancement” means (i) a cash amount equal to the present
value, calculated using a discount rate equal to the then prevailing
applicable Federal rate as determined under Section 1274(d) of the Internal
Revenue Code of 1986, as amended (the “Code”), of the additional retirement
benefits that would have been payable or available to Executive under any
ERPs, based on (A) the age and service Executive would have attained or
completed had Executive continued in the Company’s employ until the third
anniversary of the occurrence of the Change of Control, and (B) where
compensation is a relevant factor, his pensionable compensation as of the
Date of Termination, such compensation to include, on the same terms as
apply to other executives, any Severance Payment made to Executive, (ii)
solely for purposes of vesting in any benefits under any ESPs, Executive
shall be treated as having continued in the Company’s employ until the third
anniversary of the occurrence of such Change of Control, and (iii) solely
for the purposes of determining eligibility for retiree medical benefits
under any retirement plan or any retiree welfare benefit plan, policy or
program of the Company or its affiliates, and any ERPs related thereto,
Executive shall be treated as having continued in the Company’s employ until
the third anniversary of the occurrence of such Change of Control and to
have retired on the last day of such period.

“Voluntary Termination Within 180 Days” means a termination of employment by
Executive for any reason within the first 180 days following a Change of
Control, and “Voluntary Termination After 180 Days” means a termination of
employment by Executive other than a Termination For Good Reason, a
Termination Due to Disability by Executive, or a Termination Due to Death
within the remaining 2 years and 6 months following a Change of Control.

“Welfare Benefits Continuation” shall have the same meaning as that
described in Section 5 hereof, except that the entitlement of Executive
and/or his dependents to participation in the Welfare Benefit Plans shall
continue until the third anniversary of the Date of Termination.

(d) Out-Placement Services. If the Employment Period terminates because of a
Termination Without Cause or a Termination For Good Reason, Executive shall be
entitled to out-placement services, provided by the Company or its designee at
the Company’s expense, for 12 months following the Date of Termination, or such
lesser period as the Executive may require such services.

(e) Certain Further Payments by Company.

18

 

(i) Tax Reimbursement Payment. In the event that any amount or benefit
paid or distributed to Executive pursuant to this Agreement, taken together
with any amounts or benefits otherwise paid or distributed to Executive by
the Company or any affiliate (collectively, the “Covered Payments”), are or
become subject to the tax (the “Excise Tax”) imposed under Section 4999 of
the Internal Revenue Code of 1986, as amended, or any similar tax that may
hereafter be imposed, the Company shall pay to the Executive at the time
specified in this Section an additional amount (the “Tax Reimbursement
Payment”) such that the net amount retained by the Executive with respect to
such Covered Payments, after deduction of any Excise Tax on the Covered
Payments and any Federal, state and local income tax and other tax on the
Tax Reimbursement Payment provided for by this Section, but before deduction
for any Federal, state or local income or employment tax withholding on such
Covered Payments, shall be equal to the amount of the Covered Payments.

(ii) Applicable Rules. For purposes of determining whether any of the
Covered Payments will be subject to the Excise Tax and the amount of such
Excise Tax,

(A) such Covered Payments will be treated as “parachute payments”
within the meaning of Section 280G of the Code, and all “parachute
payments” in excess of the “base amount” (as defined under Section
280G(b)(3) of the Code) shall be treated as subject to the Excise
Tax, unless, and except to the extent that, in the good faith
judgment of the Company’s independent certified public accountants
appointed prior to the Effective Date or tax counsel selected by such
accountants (the “Accountants”), the Company has a reasonable basis
to conclude that such Covered Payments (in whole or in part) either
do not constitute “parachute payments” or represent reasonable
compensation for personal services actually rendered (within the
meaning of Section 280G(b)(4)(B) of the Code) in excess of the “base
amount,” or such “parachute payments” are otherwise not subject to
such Excise Tax, and

(B) the value of any non-cash benefits or any deferred payment or
benefit shall be determined by the Accountants in accordance with the
principles of Section 280G of the Code.

(iii) Additional Rules. For purposes of determining the amount of the Tax
Reimbursement Payment, the Executive shall be deemed to pay: (A) Federal
income taxes at the highest applicable marginal rate of Federal income
taxation for the calendar year in which the Tax Reimbursement Payment is to
be made, and (B) any applicable state and local income and other taxes at
the highest applicable marginal rate of taxation for the calendar year in
which the Tax Reimbursement Payment is to be made, net of the maximum
reduction in Federal incomes taxes which could be obtained from the
deduction of such state or local taxes if paid in such year.

19

 

(iv) Repayment or Additional Payment in Certain Circumstances.

(A) Repayment. In the event that the Excise Tax is subsequently
determined by the Accountants or pursuant to any proceeding or
negotiations with the Internal Revenue Service to be less than the
amount taken into account hereunder in calculating the Tax
Reimbursement Payment made, Executive shall repay to the Company, at
the time that the amount of such reduction in the Excise Tax is
finally determined, the portion of such prior Tax Reimbursement
Payment that would not have been paid if such lesser Excise Tax had
been applied in initially calculating such Tax Reimbursement Payment.
Notwithstanding the foregoing, in the event any portion of the Tax
Reimbursement Payment to be repaid to the Company has been paid to
any Federal, state or local tax authority, repayment thereof shall
not be required until actual refund or credit of such portion has
been made to Executive by the applicable tax authority. Executive
and the Company shall mutually agree upon the course of action to be
pursued (and the method of allocating the expenses thereof) if
Executive’s good faith claim for refund or credit is denied.

(B) Additional Tax Reimbursement Payment. In the event that the
Excise Tax is later determined by the Accountants or pursuant to any
proceeding or negotiations with the Internal Revenue Service to
exceed the amount taken into account hereunder at the time the Tax
Reimbursement Payment is made (including, but not limited to, by
reason of any payment the existence or amount of which cannot be
determined at the time of the Tax Reimbursement Payment), the Company
shall make an additional Tax Reimbursement Payment in respect of such
excess (plus any interest or penalty payable with respect to such
excess) at the time that the amount of such excess is finally
determined.

(v) Timing for Tax Reimbursement Payment. The Tax Reimbursement Payment
(or portion thereof) provided for in this Section 6 shall be paid to
Executive not later than 10 business days following the payment of the
Covered Payments; provided, however, that if the amount of such Tax
Reimbursement Payment (or portion thereof) cannot be finally determined on
or before the date on which payment is due, the Company shall pay to
Executive by such date an amount estimated in good faith by the Accountants
to be the minimum amount of such Tax Reimbursement Payment and shall pay the
remainder of such Tax Reimbursement Payment (together with interest at the
rate provided in Section 1274(b)(2)(B) of the Code) as soon as the amount
thereof can be determined, but in no event later than 45 calendar days after
payment of the related Covered Payment. To the extent that the amount of
the estimated Tax Reimbursement Payment exceeds the amount subsequently
determined to have been due, Executive shall repay such excess to the
Company on the fifth business day after written demand by the Company for
payment.

20

 

	7.	 	Timing of Payments.

Accrued Salary, Severance Payments and Vested Benefits Enhancements shall be
paid no later than 10 days following the termination of the Employment Period.
Pro-Rata Target Bonus shall be paid as follows: (a) if the Employment Period
terminates in the first, second or third calendar quarter of any particular
calendar year, then the Pro-Rata Target Bonus shall be paid no later than 10
days following the termination of the Employment Period; or (b) if the
Employment Period terminates in the fourth calendar quarter of any particular
calendar year, then the Pro-Rata Target Bonus shall be paid no later than the
same time as similar awards are paid to other executives participating in the
plans or programs under which the awards are paid, but in no event later than
March 31 of the calendar year following the end of the such fourth calendar
quarter. Vested Benefits and Equity Awards shall be paid no later than the time
for payment Determined Under the Applicable Plan except as otherwise expressly
superseded or modified by this Agreement. Tax Reimbursement Payments shall be
paid at the time specified in Section 6 hereof. Notwithstanding the foregoing,
solely for purposes of amounts payable pursuant to Section 5 hereof, if any
amount payable to Executive pursuant to Section 5 would be nondeductible by the
Company under Section 162(m) of the Code if paid in the year of Executive’s
termination, the Company shall have the option of paying such nondeductible
amount, with interest at the one-year treasury bill rate as in effect on the
date of such termination as reported in the Wall Street Journal, on the first
day of the second calendar quarter in the year following such termination.

	8.	 	Full Discharge of Company Obligations.

Except in the case of amounts payable to Executive in the event of a
termination of employment following a Potential Change of Control as described
in the first paragraph of Section 6, and except as expressly provided in the
last sentence of this Section 8, the amounts payable to Executive pursuant to
Section 5 following termination of his employment (including amounts payable
with respect to Vested Benefits) shall be in full and complete satisfaction of
Executive’s rights under Section 5 of this Agreement and any other claims he
may have in respect of his employment by the Company or any of its affiliates.
Such amounts shall constitute liquidated damages with respect to any and all
such rights and claims and, upon Executive’s receipt of such amounts, the
Company shall be released and discharged from any and all liability to
Executive in connection with Section 5 of this Agreement or otherwise in
connection with Executive’s employment with the Company and its affiliates.
Nothing in this Section 8 shall be construed to release the Company from its
obligation to indemnify Executive as provided in Section 4(e) hereof.

21

 

	9.	 	Noncompetition, Confidentiality and Other Covenants.

By and in consideration of the compensation and benefits to be provided by the
Company hereunder, including the severance arrangements set forth herein,
Executive agrees to the following:

(a) Noncompetition. During the Employment Period and until the earlier of:
(i) the last day of the one year period following any Voluntary Termination
of the Employment Period by Executive pursuant to Section 5 hereof, or (ii)
the date a Change of Control occurs (the “Restriction Period”), Executive
shall not become associated with any entity, whether as a principal,
partner, employee, agent, consultant, shareholder (other than as a holder,
or a member of a group which is a holder, of not in excess of 1% of the
outstanding voting shares of any publicly traded company) or in any other
relationship or capacity, paid or unpaid, that is actively engaged in any
geographic area in any business which is in competition with the business of
the Company. Notwithstanding anything herein to the contrary, the terms of
this Section 9(a) shall not apply in the event of any termination of
employment following a Change of Control as provided for in Section 6 of
this Agreement, including any termination following a potential Change of
Control as described in the first paragraph of Section 6.

(b) Confidentiality. Without the prior written consent of the Company,
except to the extent required by an order of a court having competent
jurisdiction or under subpoena from an appropriate government agency,
Executive shall not disclose to any third person, or permit the use of for
the benefit of any person or any entity other than The Company or its
affiliates, any trade secrets, customer lists, information regarding product
development, marketing plans, sales plans, management organization
information (including data and other information relating to members of the
Board and management), operating policies or manuals, business plans,
financial records, or other financial, organizational, commercial, business,
sales, marketing, technical, product or employee information relating to
the Company or its affiliates or information designated as confidential,
proprietary, and/or a trade secret, or any other information relating to the
Company or its affiliates that Executive knows from the circumstances, in
good faith and good conscience, should be treated as confidential, or any
information that the Company or its affiliates may receive belonging to
customers, agents or others who do business with the Company or its
affiliates, except to the extent that any such information previously has
been disclosed to the public by the Company or is in the public domain
(other than by reason of Executive’s violation of this Section 9(b)).

(c) Non-Solicitation of Employees. During the Employment Period and until
the earlier of : (i) the last day of the one year period following any
Voluntary Termination of the Employment Period by Executive pursuant to
Section 5 hereof, or (ii) the date of a Change of Control occurs, Executive
shall not directly or indirectly solicit, encourage or induce any employee
of the Company or its affiliates to terminate employment with such entity,
and shall not directly or indirectly, either individually

22

 

or as owner, agent, employee, consultant or otherwise, employ or offer
employment to any person who is or was employed by the Company or an
affiliate thereof unless such person shall have ceased to be employed by
such entity for a period of at least six months. Notwithstanding anything
herein to the contrary, the terms of this Section 9(c) shall not apply in
the event of any termination of employment following a Change of Control as
provided for in Section 6 of this Agreement, including any termination
following a potential Change of Control as described in the first paragraph
of Section 6.

(d) Company Property. Except as expressly provided herein, promptly
following any termination of the Employment Period, Executive shall return
to the Company all property of the Company, and all copies thereof in
Executive’s possession or under his control.

(e) Injunctive Relief and Other Remedies with Respect to Covenants.
Executive acknowledges and agrees that the covenants and obligations of
Executive with respect to noncompetition, confidentiality, nonsolicitation,
and Company property relate to special, unique and extraordinary matters and
that a violation of any of the terms of such covenants and obligations will
cause the Company irreparable injury for which adequate remedies are not
available at law. Therefore, Executive agrees that the Company (i) shall be
entitled to an injunction, restraining order or such other equitable relief
(without the requirement to post bond) restraining Executive from committing
any violation of the covenants and obligations contained in this Section 9,
and (ii) shall have no further obligation to make any payments to Executive
hereunder following any material violation of the covenants and obligations
contained in this Section 9. These remedies are cumulative and are in
addition to any other rights and remedies the Company may have at law or in
equity. In connection with the foregoing provisions of this Section 9,
Executive represents that his economic means and circumstances are such that
such provisions will not prevent him from providing for himself and his
family on a basis satisfactory to him. Notwithstanding the foregoing, in no
event shall an asserted violation of the provisions of this Section
constitute a basis for deferring or withholding any amounts otherwise
payable to the Executive under this Agreement following a Change of Control.

23

 

	10.	 	Miscellaneous.

(a) Survival. All of the provisions of Sections 5 (relating to termination
of the Employment Period prior to a Change of Control), 6 (relating to
termination of the Employment Period following a Change of Control or a
Potential Change of Control), 9 (relating to noncompetition,
confidentiality, nonsolicitation and Company property), 10(b) (relating to
arbitration), 10(c) (relating to legal fees) and 10(n) (relating to
governing law) of this Agreement shall survive the termination of this
Agreement.

(b) Arbitration. Except as provided in Section 9, any dispute or
controversy arising under or in connection with this Agreement shall be
resolved by binding arbitration. Such arbitration shall be held in the city
of Hartford, Connecticut and except to the extent inconsistent with this
Agreement, shall be conducted in accordance with the Commercial Arbitration
Rules of the American Arbitration Association in effect at the time of the
arbitration, and otherwise in accordance with the principles that would be
applied by a court of law or equity. The arbitrator shall be acceptable to
both the Company and Executive. If the parties cannot agree on an
acceptable arbitrator, the dispute or controversy shall be heard by a panel
of three arbitrators; one appointed by each of the parties and the third
appointed by the other two arbitrators. The Company and Executive further
agree that they will abide by and perform any award or awards rendered by
the arbitrators and that a judgment may be entered on any award or awards
rendered by any state or federal court having jurisdiction over the Company
or Executive or any of their respective property.

(c) Legal Fees and Expenses. In any contest (whether initiated by
Executive or by the Company) as to the validity, enforceability or
interpretation of any provision of this Agreement, the Company shall pay
Executive’s legal expenses (or cause such expenses to be paid) including,
without limitation, his reasonable attorney’s fees, on a quarterly basis,
upon presentation of proof of such expenses in a form acceptable to the
Company, provided that Executive shall reimburse the Company for such
amounts, plus simple interest thereon at the 90-day United States Treasury
Bill rate as in effect from time to time, compounded annually, if Executive
shall not prevail, in whole or in part, as to any material issue as to the
validity, enforceability or interpretation of any provision of this
Agreement.

(d) Successors; Binding Effect. This Agreement shall inure to the benefit
of and be binding upon the Company and its successors. The Company shall
require any successor to all or substantially all of the business and/or
assets of the Company, whether direct or indirect, by purchase, merger,
consolidation, acquisition of stock, or otherwise, by an agreement in form
and substance satisfactory to Executive, expressly to assume and agree to
perform this Agreement in the same manner and to the same extent as the
Company would be required to perform the Agreement if no such succession had
taken place. This Agreement is personal to the Executive and, without the
prior written consent of the Company, shall not be assignable by

24

 

Executive otherwise than by will or the law of descent and distribution.
This Agreement shall inure to the benefit of and be enforceable by
Executive’s legal representatives.

(e) Assignment. Except as provided in Section 10(d), neither this Agreement
nor any of the rights or obligations hereunder shall be assigned or
delegated by any party hereto without the prior written consent of the other
party.

(f) Entire Agreement. This Agreement constitutes the entire agreement
between the parties hereto with respect to the matters referred to herein.
This Agreement supersedes and replaces any prior employment or severance
agreement or arrangement between the Company and Executive. No other
agreement relating to the terms of Executive’s employment by the Company,
oral or otherwise, shall be binding between the parties unless it is in
writing and signed by the party against whom enforcement is sought. There
are no promises, representations, inducements or statements between the
parties other than those that are expressly contained herein. Executive
acknowledges that he is entering into this Agreement of his own free will
and accord, and with no duress, and that he has read this Agreement and that
he understands it and its legal consequences.

(g) Severability; Reformation. In the event that one or more of the
provisions of this Agreement shall become invalid, illegal or unenforceable
in any respect, the validity, legality and enforceability of the remaining
provisions contained herein shall not be affected thereby. In the event of
a determination that any of the provisions of Section 9(a), Section 9(b) or
Section 9(c) are not enforceable in accordance with their terms, Executive
and the Company agree that such Section shall be reformed to make such
Section enforceable in a manner that provides the Company the maximum rights
permitted at law.

(h) Waiver. Waiver by any party hereto of any breach or default by the
other party of any of the terms of this Agreement shall not operate as a
waiver of any other breach or default, whether similar to or different from
the breach or default waived. No waiver of any provision of this Agreement
shall be implied from any course of dealing between the parties hereto or
from any failure by either party hereto to assert its or his rights
hereunder on any occasion or series of occasions.

(i) Notices. Any notice required or desired to be delivered under this
Agreement shall be in writing and shall be delivered personally, by courier
service, by registered mail, return receipt requested, or by telecopy and
shall be effective upon actual receipt by the party to which such notice
shall be directed, and shall be addressed as follows (or to such other
address as the party entitled to notice shall hereafter designate in
accordance with the terms hereof):

25

 

	 	 	 
	If to the Company:

	 	The Hartford Financial Services Group, Inc.
	

	 	Law Department, HO-1-09
	

	 	Hartford Plaza
	

	 	Hartford, CT 06115
	

	 	Attention: Corporate Secretary
	 
	     with a copy to :

	 	Debevoise & Plimpton
	

	 	875 Third Avenue
	

	 	New York, NY 10022
	

	 	Attn: Lawrence K. Cagney, Esq.
	 
	If to Executive:

	 	The home address of Executive shown on the records of the
Company

(j) Amendments. This Agreement may not be altered, modified or amended
except by a written instrument signed by each of the parties hereto.

(k) Headings. Headings to provisions of this Agreement are for the
convenience of the parties only and are not intended to be part of or to
affect the meaning or interpretation hereof.

(l) Counterparts. This Agreement may be executed in counterparts, each of
which shall be deemed an original but all of which together shall constitute
one and the same instrument.

(m) Withholding. Any payments provided for herein shall be reduced by any
amounts required to be withheld by the Company from time to time under
applicable Federal, State or local income or employment tax laws or similar
statutes or other provisions of law then in effect.

26

 

(n) Governing Law. This Agreement shall be governed by the laws of the
State of Connecticut, without reference to principles of conflicts or choice
of law under which the law of any other jurisdiction would apply.

27

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