Document:

Exhibit 10.1

 

AMENDMENT TO THE

SUPPLEMENTAL NON-QUALIFIED SAVINGS PLAN
FOR

HIGHLY COMPENSATED EMPLOYEES OF

HONEYWELL INTERNATIONAL INC.

AND ITS SUBSIDIARIES

 

(as amended and restated effective January
1, 2009)

 

Effective July 1, 2015
(the “Effective Date”), the Supplemental Non-Qualified Savings Plan for Highly Compensated Employees of Honeywell
International Inc. and its Subsidiaries (the “Plan”) is hereby amended to separate the Plan into two plans for
all legal purposes, as follows:

 

1. One plan, to be known
on and after the Effective Date as the “Excess Benefit Plan of Honeywell International Inc. and its Subsidiaries (as amended
and restated as of July 1, 2015)” (the “Excess Benefit Plan”) shall provide only for the benefits or contributions
that would be provided under the Qualified Savings Plans but for any benefit or limitations set forth in the Code, including any
amounts credited to each Participant’s Account as of the Effective Date that would have been so characterized at the time
such amounts were credited, and including (for purposes of clarity) all Plan Employer Contributions described in Section 5(b) of
the Plan. The Excess Benefit Plan shall consist of, be governed by and be subject to, the terms of the Plan excluding Section 5(a)(ii)
thereof and the other provisions of the Plan to the extent relating to Section 5(a)(ii).

 

2. A second plan, to
be known on and after the Effective Date as the “Supplemental Non-Qualified Savings Plan for Highly Compensated Employees of Honeywell
International Inc. and its Subsidiaries (as amended and restated as of July 1, 2015)” (the “Supplemental Savings
Plan”), shall provide for all other benefits or contributions under the Plan. The Supplemental Savings Plan shall consist
of, be governed by and be subject to, the terms of the Plan excluding Section 5(a)(i) and 5(b) thereof and the other provisions
of the Plan to the extent relating to Sections 5(a)(i) and 5(b).

 

3. Section 1 of each
of Excess Benefit Plan and the Supplemental Savings Plan shall be revised to read in its entirety as follows:

 

1. History. Honeywell
International Inc. (the “Corporation”) initially established this Excess Benefit Plan of Honeywell International Inc.
and its Subsidiaries (the “Plan”) effective January 1, 2006 when the Supplemental Non-Qualified Savings Plan For Highly
Compensated Employees Of Honeywell International Inc. and Its Subsidiaries (Career Band 5 and Below) (the “Supplemental Savings
Plan”) was merged with and into the Supplemental Non-Qualified Savings Plan for Highly Compensated Employees of Honeywell
International Inc. and its Subsidiaries (Career Band 6 and above) (the “Executive Supplemental Savings Plan”) and the
resulting plan from this merger became known as the Plan. The Plan was amended and restated, effective as of January 1, 2009, to
implement changes required pursuant to and consistent with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”),
and the corresponding rules

    	 

    	

    

and final regulations issued under Section 409A of the Code with respect to amounts subject to such
requirements. This Plan document covers any Participant (as defined below) who was entitled to receive a benefit from the Plan
as of December 31, 2008, but did not receive full payment of such benefit under the Plan as of such date, as well as any individual
who becomes a Participant in the Plan on or after January 1, 2009. Plan benefit payments commencing prior to January 1, 2009 are
governed by the terms of Plan as they existed prior to this amendment and restatement and are either grandfathered from the requirements
of Section 409A of the Code or payable pursuant to a fixed schedule as required by, and in compliance with, Section 409A of the
Code. Between January 1, 2005 and December 31, 2008, with respect to payments that are subject to the requirements of Section 409A
of the Code, the Plan has been operated in accordance with transition relief established by the Treasury Department and Internal
Revenue Service pursuant to Section 409A of the Code. This amendment and restatement is adopted in conformity with final regulations
under Section 409A of the Code issued by the Treasury Department on April 10, 2007 and effective January 1, 2009. The Plan resulting
from the merger of the Supplemental Savings Plan and the Executive Supplemental Savings Plan, as so amended, was then separated
into two separate plans for all legal purposes, in order to ensure the in order to ensure its qualification as an Excess Benefit
Plan within the meaning of Rule 16b-3 under the Securities Exchange Act of 1934, as amended. The following provisions constitute
and govern the terms of those two plans as follows:

 

(x) The Excess Benefit
Plan of Honeywell International Inc. and its Subsidiaries (as amended and restated as of July 1, 2015) (the “Excess Benefit
Plan”) provides only for the benefits or contributions that would be provided under the Qualified Savings Plans but for
any benefit or limitations set forth in the Code, including any amounts credited to each Participant’s Account as of July
1, 2015, that would have been so characterized at the time such amounts were credited, and including (for purposes of clarity)
all Plan Employer Contributions described in Section 5(b) below. The Excess Benefit Plan shall consist of, be governed by and be
subject to, the terms set forth below excluding Section 5(a)(ii) below and the other provisions of the Plan to the extent relating
to Section 5(a)(ii); and

 

(y) The Supplemental
Non-Qualified Savings Plan for Highly Compensated Employees of Honeywell International Inc. and its Subsidiaries (as amended and
restated as of July 1, 2015) (the “Supplemental Savings Plan”) provides for all other benefits or contributions
set forth below. The Supplemental Savings Plan shall consist of, be governed by and be subject to, the terms set forth below excluding
Section 5(a)(i) and 5(b) below and the other provisions of the Plan to the extent relating to Sections 5(a)(i) and 5(b).

 

Capitalized terms used in this Section
1 and not defined in this Section 1 have the meanings ascribed to them below.

 

4. The header of
the Plan shall be revised to read in its entirety as follows:

 

“The Excess Benefit Plan of Honeywell
International Inc. and its Subsidiaries and the Supplemental Non-Qualified Savings Plan for Highly Compensated Employees of

    	2

    	

    

Honeywell
International Inc. and its Subsidiaries (each as amended and restated as of July 1, 2015)”

 

5. Capitalized
terms used herein and not defined herein shall have the meanings assigned to them under the Plan.

    	3EX-4.5

 Exhibit 4.5 

TEGP MANAGEMENT, LLC 

LONG-TERM INCENTIVE PLAN 

EMPLOYEE EQUITY PARTICIPATION SHARE AGREEMENT 

This Equity Participation Share Agreement (“Agreement”) between TEGP Management, LLC (the
“Company”) and [NAME] (the “Participant”), regarding an award (this “Award”) of [AMOUNT] Equity Participation Shares (as defined in the TEGP Management, LLC Long-Term Incentive Plan (the
“Plan”)) granted to the Participant on [DATE] (the “Grant Date”), such number of Equity Participation Shares subject to adjustment as provided in the Plan, and further subject to the following terms and
conditions: 
 1. Relationship to Plan. This Award is subject to all of the terms, conditions and provisions of the
Plan and administrative interpretations thereunder, if any, which have been adopted by the Board or the Committee thereunder and are in effect on the date hereof. Except as otherwise provided herein, capitalized terms shall have the same meanings
ascribed to them under the Plan. 
 2. Vesting Schedule; Settlement. 

(a) As used herein the term “Distribution Achievement Date” means the first date on which the Partnership has paid a
regular quarterly distribution of at least $0.35 on each outstanding Share for any full quarter ending on or after the Grant Date. 

(b) Except as otherwise provided herein or the Plan, all of the Equity Participation Shares subject to this Award shall
vest on the later to occur of the Distribution Achievement Date or May 12, 2019; provided, however, that the Participant remains in continuous employment with the Company or its Affiliates through the vesting date and such Equity
Participation Shares have not previously been forfeited as provided in Section 3 (with such period commencing on the Grant Date and ending on the vesting date, the “Restricted Period”). Notwithstanding anything herein to the
contrary, if the Distribution Achievement Date has not occurred by May 12, 2020 this Award will expire and terminate and no vesting of the Equity Participation Shares will thereafter occur. 

(c) Upon the occurrence of a Change of Control while the Participant remains in continuous employment with the Company or its
Affiliates, all unvested Equity Participation Shares shall vest as of the date of the Change of Control. 
 (d) Within
60 days following the vesting date with respect to an Equity Participation Share, the Participant shall receive a Share. Shares will be evidenced, at the sole option and in the sole discretion of the Committee, either (i) in book-entry
form in the Participant’s name in the Share register of the Partnership maintained by the Partnership’s transfer agent or (ii) a Share certificate issued in the Participant’s name. Upon delivery of a Share in respect of an Equity
Participation Share, such Equity Participation Share shall cease to be outstanding in the Participant’s notional account described in Section 4. 

 3. Forfeiture of Award. Upon termination of the Participant’s employment with the
Company or any of its Affiliates for any reason during the Restricted Period, all Equity Participation Shares that have not vested in accordance with Section 2 as of such termination date shall be immediately forfeited by the Participant on
such termination date. 
 4. Bookkeeping Account. During the Restricted Period, the Award of Equity Participation Shares hereunder
shall be evidenced by entry in a bookkeeping account maintained by the Partnership or its transfer agent. 
 5. Rights as Shareholder;
Delivery of Shares. Until delivery of Shares as described in Section 2(d), the Participant shall have no rights as a Shareholder as a result of the grant of Equity Participation Shares hereunder, including the right to vote the Equity
Participation Shares. The Participant shall not be entitled to receive any distributions with respect to the Equity Participation Shares unless the Participant receives a separate grant of Distribution Equivalent Rights. The Company shall not be
obligated to deliver any Shares if counsel to the Company determines that such sale or delivery would violate any applicable law or any rule or regulation of any governmental authority or any rule or regulation of, or agreement of the Partnership
with, any securities exchange or association upon which the Shares are listed or quoted. The Company shall in no event be obligated to take any affirmative action in order to cause the issuance or delivery of Shares to comply with any such law,
rule, regulation or agreement. 
 6. Assignment of Award. The Participant’s rights under this Agreement and the Plan are
personal; no assignment or transfer of the Participant’s rights under and interest in this Award may be made by the Participant. 
 7.
Withholding. No Shares shall be delivered hereunder to or in respect of a Participant unless the amount of all federal, state and other governmental withholding tax requirements imposed upon the Company or an Affiliate with respect to the
issuance of such Shares has been remitted to the Company or an Affiliate or unless provisions to pay such withholding requirements have been made to the satisfaction of the Committee. The Committee may make such provisions as it may deem appropriate
for the withholding of any taxes which it determines is required in connection with this Award. The Participant may pay all or any portion of the taxes required to be withheld by the Company or an Affiliate or paid by the Participant in connection
with the vesting of all or any portion of this Award by delivering cash, or, with the Committee’s approval, by electing to have the Company or an Affiliate withhold Shares, or by delivering previously owned Shares, having a Fair Market Value
equal to the amount required to be withheld or paid. The Participant may only request the withholding of Shares having a Fair Market Value equal to the statutory minimum withholding amount. The Participant must make the foregoing election on or
before the date that the amount of tax to be withheld is determined. 
 8. No Employment Guaranteed. No provision of this Agreement
shall confer any right upon the Participant to continued employment with the Company or any Affiliate. 
 9. Governing Law. This
Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of Delaware. 

 10. Amendment. This Agreement cannot be modified, altered or amended, except by an
agreement, in writing, signed by both the Company and the Participant. 
 11. Section 409A. 

(a) The Equity Participation Shares granted pursuant to this Agreement are intended to comply with or be exempt from Code
Section 409A, and ambiguous provisions hereof, if any, shall be construed and interpreted in a manner consistent with such intent. No payment, benefit or consideration shall be substituted for the Equity Participation Shares if such action
would result in the imposition of taxes under Code Section 409A. Notwithstanding anything in this Agreement to the contrary, if any Plan provision or this Agreement results in the imposition of an additional tax under Code Section 409A,
that Plan provision or provision of this Agreement shall be reformed, to the extent permissible under Code Section 409A, to avoid imposition of the additional tax, and no such action shall be deemed to adversely affect the Participant’s
rights to the Equity Participation Shares. 
 (b) Notwithstanding any provision of the Agreement to the contrary, if the
Participant is identified by the Company as a “specified employee” within the meaning of Code Section 409A(a)(2)(B)(i) on the date on which the Participant has a “separation from service” (other than due to death) within the
meaning of Treasury Regulation § 1.409A-1(h), any Equity Participation Shares payable or settled on account of a separation from service that are deferred compensation subject to Code Section 409A shall be paid or settled on the
earliest of (i) the first business day following the expiration of six months from the Participant’s separation from service, (ii) the date of the Participant’s death, or (iii) such earlier date as complies with the
requirements of Code Section 409A. 
 (c) For all purposes of this Agreement, the Participant shall be considered to
have terminated employment with the Company and its Affiliates when the Participant incurs a “separation from service” with the Company within the meaning of Treasury Regulation § 1.409A-1(h). 

									
							TEGP MANAGEMENT, LLC
				
	Date: [DATE OF OFFER]				By:		  

							Name:		David G. Dehaemers, Jr.
							Title:		President and Chief Executive Officer

 The Participant hereby accepts the foregoing Agreement, subject to the terms and provisions of the Plan and
administrative interpretations thereof referred to above. 
  

									
							PARTICIPANT:
				
	Date:		  
				  

							[EMPLOYEE NAME]

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