Common use of Change of Investments Clause in Contracts

Change of Investments. Subject to any minimum investment requirement applicable to a Fund, the Employee (or his or her Beneficiary, if the Employee is deceased) may at any time direct the Custodian to redeem all or a specified portion of the shares of a Fund in the Employee's Account and to invest the net redemption proceeds in shares and fractional shares of one or more other Funds. The Employee (or Beneficiary) will give such directions by written notice acceptable to the Custodian, and the Custodian will process such directions as soon as practicable after receipt thereof. If any such directions are incomplete or ambiguous in the judgment of the Custodian or otherwise not in good order, the Custodian will refrain from carrying out any transactions until such incompleteness or ambiguity or other defect has been resolved to its satisfaction, without liability for any loss or change in investment values of Fund shares which occur pending the resolution of such incompleteness or ambiguity. Any sales or redemption fee or other charge payable in connection with any redemption will be paid from the Employee's Account. In the event that any Fund held in the Employee’s Account is liquidated or is otherwise made unavailable by the sponsor or Fund Distributor of such Fund as a permissible investment for the Account hereunder, the liquidation or other proceeds of such Fund shall be invested in accordance with the instructions of the Employee; if the Employee does not give such instructions, or if such instructions are unclear or incomplete in the opinion of the Custodian, the Custodian may invest such liquidation or other proceeds in such other Fund (including a money market fund if available) as the sponsor or Fund Distributor designates, and the Custodian will have no responsibility for such investment.

Change of Investments. Subject to any minimum investment requirement applicable to a Fund, the Employee (or his or her Beneficiary, if the Employee is deceased) may at any time direct the Custodian to redeem all or a specified portion of the shares of a Fund in the Employee's ’s Account and to invest the net redemption proceeds in shares and fractional shares of one or more other Funds. The Employee (or Beneficiary) will give such directions by written notice acceptable to the Custodian, and the Custodian will process such directions as soon as practicable after receipt thereof. If any such directions are incomplete or ambiguous in the judgment of the Custodian or otherwise not in good order, the Custodian will refrain from carrying out any transactions until such incompleteness or ambiguity or other defect has been resolved to its satisfaction, without liability for any loss or change in investment values of Fund shares which occur pending the resolution of such incompleteness or ambiguity. Any sales or redemption fee or other charge payable in connection with any redemption will be paid from the Employee's ’s Account. In the event that If any Fund held in the Employee’s Account is liquidated or is otherwise made unavailable by the sponsor Sponsor or Fund Distributor of such Fund as a permissible investment for an Account hereunder (a “Liquidation,” which shall not include the Account hereunderconversion of a Fund), the liquidation or other Liquidation proceeds of such Fund shall be invested in accordance with the instructions of the Employee; if . If the Employee does not give such instructions, or if such instructions are unclear or incomplete in the opinion of the Custodian, the Employee directs the Custodian may to invest such liquidation Liquidation proceeds as of the effective date of such Fund Liquidation (the “Liquidation Date”) in (i) a Fund that is a money market fund, if any such Fund exists on the Liquidation Date, or other proceeds in such other (ii) if no Fund (including that is a money market fund exists on the Liquidation Date, than the Hartford Short Duration Fund, or, if available) as the sponsor or Hartford Short Duration Fund Distributor designatesdoes not exist on the Liquidation Date, and the Hartford Mutual Fund bond fund that is the shortest duration Hartford Mutual Fund bond fund in existence on the Liquidation Date. In such case, the Custodian will not have no any responsibility for such investment.