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The video must work in the following browsers: IE9.0+, FF3.5+, Safari 3.0+, Chrome 16.0+, iPhone 3.0+, Android 2.0+. To work, it must have the poster image, play on hover (in case of phones/tablets, play on tap) and pause on mouseout.
To achieve compatibility, it must fall back on several video codecs (webm, ogg, mp4 and flash). See this guide: http://diveintohtml5.ep.io/video.html.
It should have no controls.
I will supply videos in 1080p in .mov format. As you can see on the site, the pictures the videos will play under are 270x260px, so you need to crop to this ratio and scale down. Then you need to encode in the video/audio codecs mentioned in the guide so that it works in the mentioned browsers.
The mockup and the guides given are only to be considered inspiration. It's your responsibility to make it work in the mentioned browsers.