Exhibit 10.1


 


2016 STOCK INCENTIVE PLAN

OF HONEYWELL INTERNATIONAL INC. AND ITS AFFILIATES


 


RESTRICTED
UNIT AGREEMENT


 


RESTRICTED UNIT AGREEMENT
made in Morris Plains, New Jersey, as of [DATE] (the “Grant Date”), between Honeywell International Inc. (the “Company”)
and [EMPLOYEE NAME] (“Participant”).


 


	1.	Grant of Award. The Company has granted you [NUMBER] Restricted
Units, subject to the provisions of this Agreement and the 2016 Stock Incentive Plan of Honeywell International Inc. and its Affiliates
(the “Plan”). The Company will hold the Restricted Units [and Additional Restricted Units (as defined in Section 2)]
in a bookkeeping account on your behalf until they become payable or are forfeited or cancelled. 
	 	 
	 	The
                                               Restricted Stock Plan Details for this grant can be found on the Morgan Stanley
                                               StockPlan Connect website at www.stockplanconnect.com. The Company reserves
                                               the right to change or correct any information contained on the Morgan Stanley
                                               StockPlan Connect website to reflect the terms of the Award actually made by the
                                               Company on the Grant Date or the Plan.




 


	2.	[FOLLOWING INCLUDED AT COMPANY’S DISCRETION: Dividend Equivalents.
Except as otherwise determined by the Management Development and Compensation Committee (the “Committee”), in its
sole discretion, you will earn Dividend Equivalents in an amount equal to the value of any cash or stock dividends paid by the
Company upon one Share of Common Stock for each unvested Restricted Unit or Additional Restricted Unit (as defined below) credited
to your bookkeeping account on a dividend record date. In the case of cash dividends, the Company shall credit to your bookkeeping
account, on each dividend payment date, an additional number of Restricted Units (“Additional Restricted Units”) equal
to (a) divided by (b), where (a) equals the total number of unvested Restricted Units and Additional Restricted Units, if any,
subject to this Agreement on such date multiplied by the dollar amount of the cash dividend paid per Share of Common Stock on such
date, and (b) equals the Fair Market Value of a Share on such date. If a dividend is paid to holders of Common Stock in Shares,
the Company shall credit to you, on each dividend payment date, Additional Restricted Units equal to the total number of unvested
Restricted Units and Additional Restricted Units subject to this Agreement on such date multiplied by the Share dividend paid per
Share of Common Stock on such date. Additional Restricted Units are subject to the same restrictions, including but not limited
to vesting, transferability and payment restrictions, that apply to the Restricted Units to which they relate.] 



 


	3.	Payment Amount. Each Restricted Unit [and Additional Restricted
Unit] represents one (1) Share of Common Stock. 







    	 



    	



    

	4.	Vesting. Except in the event of your Termination of Employment
due to death, the incurrence of a Disability, or as otherwise provided in Section 8 of this Agreement relating to a Change in Control,
the Restricted Units [and Additional Restricted Units] will vest as provided on the attached Vesting Schedule Table, which is incorporated
into, and made a part of, this Agreement.



 


	5.	Form and Timing of Payment. Vested Restricted Units will be
redeemed solely for Shares. [FOLLOWING INCLUDED AT COMPANY’S DISCRETION: Except as otherwise determined by the Company, in
its sole discretion, vested Additional Restricted Units will be redeemed solely for Shares.] [Subject to a deferral election made
pursuant to Section 12, and] except as otherwise provided in Section 7(b) below, payment of vested Restricted Units [and Additional
Restricted Units] will be made as soon as practicable following the applicable vesting date but in no event later than two and
one-half (2-1/2) months following the end of the calendar year in which the vesting date occurs. As determined by the Company in
its sole discretion prior to the vesting date, any fractional Shares may be paid in cash or rounded up or down to the nearest whole
Share. [You cannot defer payment of the Restricted Units [or the Additional Restricted Units.]]



 


	6.	Termination of Employment. Except as otherwise provided in
Sections 7(a) and 8 of this Agreement, any Restricted Units [and Additional Restricted Units] that have not vested as of your Termination
of Employment will immediately be forfeited, and your rights with respect to these Restricted Units [and Additional Restricted
Units] will end. 



 


	7.	Retirement, Death or Disability. 



 


	 	a.	Vesting. If your Termination of Employment occurs due to death,
or you incur a Disability before the vesting date described in Section 4 of this Agreement, all of your unvested Restricted Units
[and Additional Restricted Units] will vest as of your Termination of Employment or Disability, as applicable. If you are deceased,
the Company will make a payment to your estate only after the Company has determined that the payee is the duly appointed executor
or administrator of your estate, subject to Section 7.14 of the Plan.
	 	 	 
	 	 	If your Termination
of Employment due to Retirement occurs before the vesting date described in Section 4 of this Agreement, all unvested Restricted
Units [and Additional Restricted Units] will be forfeited and your rights with respect to any award under this Agreement will terminate.




 


		b.	Payment. If your Termination of Employment occurs due to death
or you incur a Disability before the vesting date described in Section 4 of this Agreement, payment for vested Restricted Units
[and Additional Restricted Units] will be made as soon as practicable following your death or Disability, as applicable, but in
no event later than the last day of the calendar year in which your death or Disability occurs. 



 


	8.	Change in Control. In the event of a Change in Control, the
following provisions apply:




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		a.	Unless adjusted or exchanged pursuant to Section 5.3(c) or 5.3(d)
of the Plan, Restricted Units [and Additional Restricted Units] that have not vested or terminated as of the date of the Change
in Control will immediately vest. No later than the earlier of 90 days after the date of the Change in Control or two and one-half
months after the end of the calendar year in which the Change in Control occurs, you will receive for the Restricted Units [and
Additional Restricted Units] a single payment in cash equal to the product of the number of outstanding Restricted Units [and Additional
Restricted Units] as of the date of the Change in Control (including any Restricted Units [and Additional Restricted Units] that
vest pursuant to this Section 8) and an amount equal to the greater of (i) the highest price per Share paid by the Successor, as
determined by the Committee, and (ii) the highest Fair Market Value during the period of 90 days that ends on the date of the Change
in Control. Any securities or other property that is part or all of the consideration paid for Shares pursuant to the Change in
Control will be valued at the higher of (x) the valuation placed on the securities or property by any entity that is a party with
the Company to the Change in Control, or (y) the valuation placed on the securities or property by the Committee.



 


		b.	If adjusted or exchanged pursuant to Section 5.3(c) or 5.3(d) of
the Plan, Restricted Units [and Additional Restricted Units] that have not vested or terminated as of the date of the Change in
Control will continue to vest in accordance with the schedule described in Section 4 of this Agreement (or as adjusted if more
favorable); provided, however, that if you incur an involuntary Termination of Employment not for Cause (as defined in Section
2.7 of the Plan) or a voluntarily Termination of Employment for Good Reason (as defined in Section 5.4(d) of the Plan) on or before
the second anniversary of the date of the Change in Control, Restricted Units [and Additional Restricted Units] that have not vested
or terminated as of your Termination of Employment will immediately vest in full and be settled no later than the earlier of 90
days after the Termination of Employment or two and one-half months after the end of the calendar year in which the Termination
of Employment occurs. 



 


	9.	Withholdings. The Company or your local employer shall have
the power and the right to deduct or withhold, or require you to remit to the Company or to your local employer, prior to any issuance
or delivery of Shares on Restricted Units [or Additional Restricted Units], an amount sufficient to satisfy taxes imposed under
the laws of any country, state, province, city or other jurisdiction, including but not limited to income taxes, capital gain taxes,
transfer taxes, and social security contributions, and National Insurance Contributions, that are required by law to be withheld
as determined by the Company or your local employer. 



 


	10.	Transfer of Award. You may not transfer the Restricted Units[,
Additional Restricted Units] or any interest in such Units except by will or the laws of descent and distribution or except as
permitted by the Committee and as specified in the Plan. Any other attempt to dispose of your interest will be null and void. 



 


	11.	Requirements for and Forfeiture of Award. 







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		a.	General. The Award is expressly contingent upon you complying
with the terms, conditions and definitions contained in this Section 11 and in any other agreement that governs your noncompetition
with Honeywell, your nonsolicitation of Honeywell’s employees, customers, suppliers, business partners and vendors, and/or
your conduct with respect to Honeywell’s trade secrets and proprietary and confidential information. For purposes of this
Section 11, the term “Honeywell” is defined as Honeywell International Inc. (a Delaware corporation having a place
of business at 115 Tabor Road, Morris Plains, New Jersey), its predecessors, designees and successors, as well as its past, present
and future operating companies, divisions, subsidiaries, affiliates and other business units, including businesses acquired by
purchase of assets, stock, merger or otherwise. 



 


		b.	Remedies. 



 


		1.	You expressly agree and acknowledge that the forfeiture provisions
of subsection 11.b.2. of this Agreement shall apply if, from the Grant Date until the date that is twenty-four (24) months after
your Termination of Employment for any reason, you (i) enter into an employment, consultation or similar agreement or arrangement
(including any arrangement for service as an agent, partner, stockholder, consultant, officer or director) with any entity or person
engaged in a business in which Honeywell is engaged if the business is competitive (in the sole judgment of the Honeywell International
Inc. Chief Executive Officer (“CEO”)) with Honeywell and the CEO has not approved the agreement or arrangement in writing,
or (ii) make any statement, publicly or privately (other than to your spouse and legal advisors), which would be disparaging (as
defined below) to Honeywell or its businesses, products, strategies, prospects, condition, or reputation or that of its directors,
employees, officers or members; provided, however, that nothing shall preclude you from making any statement in good faith which
is required by any applicable law or regulation or the order of a court or other governmental body, or (iii) write or contribute
to a book, article or other media publication, whether in written or electronic format, that is in any way descriptive of Honeywell
or your career with Honeywell without first submitting a draft thereof, at least thirty (30) days in advance, to the Honeywell
International Inc. Senior Vice President and General Counsel, whose judgment about whether such book, article or other media publication
is disparaging shall be determinative; or such a book, article or other media publication is published after a determination that
it is disparaging; provided, however, that nothing herein shall preclude you from reporting (in good faith) possible violations
of federal law or regulation to any governmental agency or entity, including but not limited to, the Department of Justice, the
Securities and Exchange Commission, the Congress, and/or any agency Inspector General, or making any other disclosures that are
protected under the whistleblower provisions of federal or state law or regulation, or from otherwise making any statement (in
good faith) which is required by any applicable law or regulation or the order of a court or other governmental body.




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	 	 	For purposes of
this subsection 11.b.1, the term “disparaging” shall mean any statement or representation (whether oral or written
and whether true or untrue) which, directly or by implication, tends to create a negative, adverse, or derogatory impression about
the subject of the statement or representation or which is intended to harm the reputation of the subject of the statement or representation.




 


		2.	In addition to the relief described in any other agreement that governs
your noncompetition with Honeywell, your nonsolicitation of Honeywell’s employees, customers, suppliers, business partners
and vendors, and/or your conduct with respect to Honeywell’s trade secrets and proprietary and confidential information,
if the CEO determines, in his sole judgment, that you have violated the terms of any such agreement or you have engaged in an act
that violates subsection 11.b.1. of this Agreement, (i) any Restricted Units [and Additional Restricted Units] that have not vested
under this Agreement shall immediately be cancelled, and you shall forfeit any rights you have with respect to such Units as of
the date of the CEO’s determination, and (ii) you shall immediately deliver to the Company Shares equal in value to the Restricted
Units [and Additional Restricted Units] you received during the period beginning twelve (12) months prior to your Termination of
Employment and ending on the date of the CEO’s determination.



 


		3.	Notwithstanding anything in the Plan or this Agreement to the contrary,
you acknowledge that the Company may be entitled or required by law, Company policy or the requirements of an exchange on which
the Shares are listed for trading, to recoup compensation paid to you pursuant to the Plan, and you agree to comply with any Company
request or demand for recoupment. 



 


	12.	Restrictions on Payment of Shares. Payment of Shares for your
Restricted Units [and Additional Restricted Units] is subject to the conditions that, to the extent required at the time of exercise,
(i) the Shares underlying the Restricted Units [and Additional Restricted Units] will be duly listed, upon official notice of redemption,
upon the New York Stock Exchange, and (ii) a Registration Statement under the Securities Act of 1933 with respect to the Shares
will be effective. The Company will not be required to deliver any Common Stock until all applicable federal and state laws and
regulations have been complied with and all legal matters in connection with the issuance and delivery of the Shares have been
approved by counsel for the Company.



 


	13.	Adjustments. Any adjustments to the Restricted Units [and
Additional Restricted Units] will be governed by Section 5.3 of the Plan. 



 


	14.	Disposition of Securities. By accepting the Award, you acknowledge
that you have read and understand the Company’s policy, and are aware of and understand your obligations under applicable
securities laws in respect of trading in the Company’s securities. The Company will have the right to recover, or receive
reimbursement for, any compensation or profit you realize on the disposition of Shares received for Restricted Units [or Additional
Restricted Units] to the extent that the Company has a right of recovery or reimbursement under applicable securities laws. 







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	15.	Plan Terms Govern. The vesting and redemption of Restricted
Units [or Additional Restricted Units], the disposition of any Shares received for Restricted Units [or Additional Restricted Units],
the treatment of gain on the disposition of these Shares, and the treatment of Dividend Equivalents are subject to the provisions
of the Plan and any rules that the Committee may prescribe. The Plan document, as may be amended from time to time, is incorporated
into this Agreement. Capitalized terms used in this Agreement have the meaning set forth in the Plan, unless otherwise stated in
this Agreement. In the event of any conflict between the terms of the Plan and the terms of this Agreement, the Plan will control.
By accepting the Award, you acknowledge that the Plan and the Plan prospectus, as in effect on the date of this Agreement, have
been made available to you for your review. 



 


	16.	Personal Data. 



 


		a.	By entering into this Agreement, and as a condition of the grant
of the Restricted Units, you expressly consent to the collection, use, and transfer of personal data as described in this Section
to the full extent permitted by and in full compliance with applicable law. 



 


		b.	You understand that your local employer holds, by means of an automated
data file, certain personal information about you, including, but not limited to, name, home address and telephone number, date
of birth, social insurance number, salary, nationality, job title, any shares or directorships held in the Company, details of
all restricted units or other entitlement to shares awarded, canceled, exercised, vested, unvested, or outstanding in your favor,
for the purpose of managing and administering the Plan (“Data”). 



 


		c.	You further understand that part or all of your Data may be also
held by the Company or its Affiliates, pursuant to a transfer made in the past with your consent, in respect of any previous grant
of restricted units or awards, which was made for the same purposes of managing and administering of previous award/incentive plans,
or for other purposes. 



 


		d.	You further understand that your local employer will transfer Data
to the Company or its Affiliates among themselves as necessary for the purposes of implementation, administration, and management
of your participation in the Plan, and that the Company or its Affiliates may transfer data among themselves, and/or each, in turn,
further transfer Data to any third parties assisting the Company in the implementation, administration, and management of the Plan
(“Data Recipients”). 



 


		e.	You understand that the Company or its Affiliates, as well as the
Data Recipients, are or may be located in your country of residence or elsewhere, such as the United States. You authorize the
Company or its Affiliates, as well as the Data Recipients, to receive, possess, use, retain, and transfer Data in electronic or
other form, for the purposes of implementing, administering, and managing your participation in the Plan, including any transfer
of such Data, as may be required for the administration of the Plan and/or the subsequent holding of Shares on your behalf, to
a broker or third party with whom the Shares may be deposited.




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		f.	You understand that you may show your opposition to the processing
and transfer of your Data, and, may at any time, review the Data, request that any necessary amendments be made to it, or withdraw
your consent herein in writing by contacting the Company. You further understand that withdrawing consent may affect your ability
to participate in the Plan.



 


	17.	Discretionary Nature and Acceptance of Award. By accepting
this Award, you agree to be bound by the terms of this Agreement and acknowledge that: 



 


		a.	The Company (and not your local employer) is granting your Restricted
Units [and Additional Restricted Units]. Furthermore, this Agreement is not derived from any preexisting labor relationship between
you and the Company, but rather from a mercantile relationship. 



 


		b.	The Company may administer the Plan from outside your country of
residence and United States law will govern all Restricted Units [and Additional Restricted Units] granted under the Plan. 



 


		c.	Benefits and rights provided under the Plan are wholly discretionary
and, although provided by the Company, do not constitute regular or periodic payments. 



 


		d.	The benefits and rights provided under the Plan are not to be considered
part of your salary or compensation under your employment with your local employer for purposes of calculating any severance, resignation,
redundancy or other end of service payments, vacation, bonuses, long-term service awards, indemnification, pension or retirement
benefits, or any other payments, benefits or rights of any kind. You waive any and all rights to compensation or damages as a result
of the termination of employment with your local employer for any reason whatsoever insofar as those rights result, or may result,
from the loss or diminution in value of such rights under the Plan or your ceasing to have any rights under, or ceasing to be entitled
to any rights under, the Plan as a result of such termination.



 


		e.	The grant of Restricted Units [and Additional Restricted Units] hereunder,
and any future grant of Restricted Units [or Additional Restricted Units] under the Plan, is entirely voluntary, and at the complete
discretion of the Company. Neither the grant of the Restricted Units, [the Additional Restricted Units] nor any future grant by
the Company will be deemed to create any obligation to make any future grants, whether or not such a reservation is explicitly
stated at the time of such a grant. The Company has the right, at any time and/or on an annual basis, to amend, suspend or terminate
the Plan; provided, however, that no such amendment, suspension, or termination will adversely affect your rights hereunder. 



 


		f.	The Plan will not be deemed to constitute, and will not be construed
by you to constitute, part of the terms and conditions of employment. Neither the Company nor your local employer will incur any
liability of any kind to you as a result of any change or amendment, or any cancellation, of the Plan at any time.




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		g.	Participation in the Plan will not be deemed to constitute, and will
not be deemed by you to constitute, an employment or labor relationship of any kind with the Company.



 


	18.	Limitations. Nothing in this Agreement or the Plan gives you
any right to continue in the employ of the Company or any of its Affiliates or to interfere in any way with the right of the Company
or any Affiliate to terminate your employment at any time. Payment of your Restricted Units [and Additional Restricted Units] is
not secured by a trust, insurance contract or other funding medium, and you do not have any interest in any fund or specific asset
of the Company by reason of this Award or the account established on your behalf. You have no rights as a shareowner
of the Company pursuant to the Restricted Units [or Additional Restricted Units] until Shares are actually delivered to
you. 



 


	19.	Incorporation of Other Agreements. This Agreement and the
Plan constitute the entire understanding between you and the Company regarding the Restricted Units. This Agreement supersedes
any prior agreements, commitments or negotiations concerning the Restricted Units [and the Additional Restricted Units]. 



 


	20.	Severability. The invalidity or unenforceability of any provision
of this Agreement will not affect the validity or enforceability of the other provisions of the Agreement, which will remain in
full force and effect. Moreover, if any provision is found to be excessively broad in duration, scope or covered activity, the
provision will be construed so as to be enforceable to the maximum extent compatible with applicable law. 



 


	21.	Governing Law. The Plan, this Agreement, and all determinations
made and actions taken under the Plan or this Agreement shall be governed by the internal substantive laws, and not the choice
of law rules, of the State of Delaware and construed accordingly, to the extent not superseded by applicable federal law. 



 


	22.	Agreement Changes. The Company reserves the right to change
the terms of this Agreement and the Plan without your consent to the extent necessary or desirable to comply with the requirements
of Code section 409A, the Treasury regulations and other guidance thereunder. 



 


	23.	Acknowledgements and Acceptance. By accepting this Agreement,
you agree that: (i) you have carefully read, fully understand and agree to all of the terms and conditions described in this Agreement,
the Plan, the Plan’s prospectus and all accompanying documentation; and (ii) you understand and agree that this Agreement
and the Plan constitute the entire understanding between you and the Company regarding the Award, and that any prior agreements,
commitments, or negotiations concerning the Award are replaced and superseded.




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To retain this Award,
you must accept it by printing the Agreement and signing and dating below. Return the signed Agreement to Honeywell International
Inc., Executive Compensation/4B, 115 Tabor Road, Morris Plains, New Jersey 07950.


 


I Accept:


 


 


	Print Name	EID	 
	 	 	 
	 	 	 
	Signature	Date	 




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VESTING SCHEDULE
TABLE


 


[VESTING PROVISIONS
CONSISTENT WITH THE PLAN]


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