Item 1.02 Termination of a Material Definitive Agreement.
On December 17, 2020, the Board of Directors (the "Board") of The Hartford
Financial Services Group, Inc. (the "Company") terminated the Company's
commercial paper program (the "Program"). In connection with the termination of
the Program, the Company terminated its Dealer agreement (the "Dealer
Agreement") with Goldman Sachs & Co. (the "Dealer"). The Dealer Agreement
provided the terms under which the Dealer would either purchase from the Company
or arrange for the sale by the Company of short-term unsecured commercial paper
notes pursuant to an exemption from federal and state securities laws. The
Dealer Agreement contained customary representations, warranties, covenants,
defaults and indemnification provisions. The foregoing description of the Dealer
Agreement does not purport to be complete and is qualified in its entirety by
reference to the full text of the Dealer Agreement, a copy of which is attached
as Exhibit 10.1 and is incorporated herein by reference.
The Dealer and its respective affiliates have, from time to time, performed, and
may in the future perform, various financial advisory, commercial banking and
investment banking services for the Company and its affiliates, for which they
received or will receive customary fees and expense reimbursements. In addition,
the Dealer or its affiliates are lenders under the Company's five-year revolving
credit facility dated March 29, 2018.
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
Year.
On December 17, 2020, the Board adopted Amended and Restated By-laws of the
Company (the "By-laws"), effective immediately, in order to, among other things,
(i) revise and update the timing and information requirements of the advance
notice provisions for director nominations and stockholder proposals? (ii)
clarify the procedures for stockholder meetings, including those held solely by
means of remote communication? (iii) clarify the powers of the presiding person
of a stockholder meeting to adjourn or recess a meeting and to regulate the
conduct of such meeting? (iv) allow for special meetings of the Board with less
than two days' notice? (v) add emergency by-laws allowing the Board to operate
with reduced procedural requirements and take other necessary actions during an
emergency condition? and (vi) make certain other updates, clarifications and
ministerial and conforming changes.
The foregoing description of the By-laws does not purport to be complete and is
qualified in its entirety by reference to the full text of the By-laws, a copy
of which is attached as Exhibit 3.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
Exhibit No.
3.1 Amended and Restated By-laws of The Hartford Financial Services
Group, Inc., effective December 17, 2020.
10.1 Form of Commercial Paper Dealer Agreement between The Hartford
Financial Services Group, Inc. as Issuer, and the Dealer party thereto
(incorporated herein by reference to Exhibit 10. 1 to The Hartford
Financial Services Group, Inc.'s Form 8-K, dated December 29, 2014).
101 Cover Page Interactive Data File - the cover page XBRL tags are
embedded within the Inline XBRL document.
104 The cover page from this Current Report on Form 8-K, formatted as
Inline XBRL.
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