The Hartford Financial Services Group, Inc. 2006-2007 Non-Employee Director Compensation Summary
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Summary
This document outlines the compensation plan for non-employee directors of The Hartford Financial Services Group, Inc. for the 2006-2007 service year. Directors receive an annual restricted stock award valued at $150,000, a $45,000 annual cash retainer, and additional fees for attending board and committee meetings. Committee chairpersons receive extra annual retainers. Directors may defer compensation and are provided with group life and AD&D insurance, with the option to purchase more. Reasonable travel and education expenses are reimbursed.
EX-10.2 3 y17720exv10w2.htm EX-10.2: COMPENSATION OF NON-EMPLOYEE DIRECTORS EX-10.2
Exhibit 10.2
The Hartford Financial Services Group, Inc.
2006-2007 Compensation of Non-Employee Directors
2006-2007 Compensation of Non-Employee Directors
— For the annual service period beginning on May 17, 2006, the date of the next Annual Meeting of Shareholders—
| Standard Fees | Description | |
Annual Restricted Stock Award | · $150,000 valuation | |
| · Granted on the date of the Annual Meeting of Shareholders | ||
| · Vests three years from the date of the award | ||
Annual Retainer Payable in Cash | · $45,000 | |
| · Payable following the Annual Meeting of Shareholders | ||
Meeting Fee for each meeting of the Board of Directors attended | · $2,500 per meeting | |
Fee for each Committee meeting attended | · $2,000 per Committee meeting | |
Committee Chairperson Annual Retainer | · $10,000 for the chairpersons of each of the Compensation and Personnel Committee, the Legal and Public Affairs Committee and the Nominating and Corporate Governance Committee | |
| · $25,000 for the chairperson of the Audit Committee | ||
Other | ||
Deferred Compensation Plan | · May defer all or any portion of cash compensation into The Hartford Deferred Compensation Plan | |
| · May defer all of any portion of cash compensation into The Hartford 2005 Incentive Stock Plan. | ||
Insurance | · $100,000 of group life insurance and $750,000 of AD&D | |
| · Directors may purchase additional voluntary AD&D insurance | ||
Reimbursable Expenses | · Travel and related expenses incurred in connection with service on the Board of Directors and its Committees | |
| · All reasonable expenses incurred for director education | ||
