Common use of Award Value Clause in Contracts

Award Value. The estimated value of your long-term award ([options, performance shares, restricted stock units]) as of the date of grant was $[XXX], based on the closing price of The Hartford common stock on the Grant Date. Ultimately, the value of the award will depend on the stock price [at the time of option exercise] [at the end of the applicable period in the case of performance shares, restricted stock and restricted stock units][at the time of distribution following the end of the vesting period], [whether and to what extent the performance share objectives are achieved, and other factors]. This award is conditioned on your acceptance of the award and on your agreement to the Restriction on Solicitation of Employees set forth below, and to The Hartford’s Arbitration Policy, on or before [DATE]. If not accepted and agreed to by that date, the award will be cancelled. By accepting this award, you acknowledge: • that you have access to the Plan prospectus and the opportunity to read the terms of the Plan prior to your acceptance of this award, and you represent that you understand the terms of this award and accept this award subject to all the terms and conditions of the Plan, of the rules, procedures and interpretations thereunder, and of this award. • that you may consult a tax advisor regarding the tax aspects of this award and that you are not relying on The Hartford for any opinion or advice as to personal tax implications of this award. • that the award is subject to tax and that shares you actually receive will be net of shares withheld for taxes. • that this award does not constitute a contract of employment, nor is it a guarantee or promise of employment for any specific period of time. Employment at The Hartford is terminable at will, which means that both you and The Hartford are free to terminate the employment relationship at any time for any lawful reason.

Appears in 1 contract

Sources: Non Qualified Stock Option Agreement (Hartford Financial Services Group Inc/De)

Award Value. The estimated value of your long-term award ([options, performance shares, restricted stock units]) as of the date of grant was $[XXX], based on the closing price of The Hartford common stock on the Grant Date. Ultimately, the value of the award will depend on the stock price [at the time of option exercise] [at the end of the applicable period in the case of performance shares, restricted stock and restricted stock units][at the time of distribution following the end of the vesting periodunits], [whether and to what extent the performance share objectives are achieved, and other factors]. This award is conditioned on your acceptance of the award and on your agreement to the Restriction on Solicitation of Employees [and agreement to Restriction on Competition Following Retirement] set forth below, and to The Hartford’s Arbitration Policy, on or before [DATE]. If not accepted and agreed to by that date, the award will be cancelled. By accepting this award, you acknowledge: • that you have access to the Plan prospectus and the opportunity to read the terms of the Plan prior to your acceptance of this award, and you represent that you understand the terms of this award and accept this award subject to all the terms and conditions of the Plan, of the rules, procedures and interpretations thereunder, and of this award. • that you may consult a tax advisor regarding the tax aspects of this award and that you are not relying on The Hartford for any opinion or advice as to personal tax implications of this award. • that the award is subject to tax and that shares you actually receive will be net of shares withheld for taxes. • that this award does not constitute a contract of employment, nor is it a guarantee or promise of employment for any specific period of time. Employment at The Hartford is terminable at will, which means that both you and The Hartford are free to terminate the employment relationship at any time for any lawful reason.

Appears in 1 contract

Sources: Non Qualified Stock Option, Performance Share, Restricted Stock Unit and Restricted Stock Award Agreement (Hartford Financial Services Group Inc/De)

Award Value. [The estimated value of your long-term award ([options, performance shares, restricted stock unitsunits and restricted stock]) as of the date of grant was $[XXX], based on the closing price of The Hartford common stock on the Grant Date. .] Ultimately, the value of the award will depend on the stock price [at the time of option exercise] [exercise (or at the end of the applicable period in the case of performance shares, restricted stock and restricted stock units][at the time of distribution following the end of the vesting period]units), [whether and to what extent the performance share objectives are achieved, and other factors]. This award is conditioned on your acceptance of the award [and on your agreement to the Restriction on Solicitation of Employees set forth below, and to The Hartford’s Arbitration Policy, ,] on or before [DATE]. [If not accepted and agreed to by that date, the award will be cancelled. .] By accepting this award, you acknowledge: • that you have access to the Plan prospectus and the opportunity to read the terms of the Plan prior to your acceptance of this award, and you represent that you understand the terms of this award and accept this award subject to all the terms and conditions of the Plan, of the rules, procedures and interpretations thereunder, and of this award. • that you may consult a tax advisor regarding the tax aspects of this award and that you are not relying on The Hartford for any opinion or advice as to personal tax implications of this award. • that the award is subject to tax and that shares you actually receive will be net of shares withheld for taxes. • that this award does not constitute a contract of employment, nor is it a guarantee or promise of employment for any specific period of time. Employment at The Hartford is terminable at will, which means that both you and The Hartford are free to terminate the employment relationship at any time for any lawful reason.

Appears in 1 contract

Sources: Non Qualified Stock Option, Performance Share, Restricted Stock Unit and Restricted Stock Award Agreement (Hartford Financial Services Group Inc/De)