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EXHIBIT 10.8

AMENDMENT TO THE

SALARY AND INCENTIVE AWARD DEFERRAL PLAN

FOR

SELECTED EMPLOYEES OF

HONEYWELL INTERNATIONAL INC. AND ITS AFFILIATES

        The Salary and Incentive Award Deferral Plan for Selected Employees of Honeywell International Inc. and Its Affiliates (the “Plan”), is hereby amended effective immediately, by replacing the fifth paragraph of Section 7
of the Plan in its entirety with the following paragraph: 

	 	
“As permitted by IRS Notice 2005-1 and subsequent guidance published under
Code section 409A, (i) an eligible employee who elected to defer all or part of
the Incentive Award earned in 2004 and payable in 2005 was permitted to
completely cancel this election during a period that began no earlier than
January 1, 2005 and ended no later than March 15, 2005, (ii) an eligible
employee who elected to defer all or part of the Incentive Award earned in 2005
and payable in 2006 was permitted to completely cancel this deferral election
during a period that will end no later than December 31, 2005 and (iii) an
eligible employee who is actively employed and who elected to defer Base
Annual Salary earned in 2002, 2003 and/or 2004 will be permitted to change the
form and/or timing of the distribution of amounts attributable to such deferrals
no later than December 31, 2007, provided however that any re-deferral (A)
must apply only to amounts that would not otherwise be payable in the year in
which the re-deferral occurs (the “re-deferral year”), (B) may not cause an
amount to be paid in the re-deferral year that would not otherwise be payable in
the re-deferral year, and (C) satisfy the Plan rules for re-deferrals of Deferral
Amounts that are not subject to the requirements of Code section 409A.” 	

        IN WITNESS WHEREOF, pursuant to the authority granted to me by the Management Development and Compensation Committee of the Board of Directors on July 28, 2006, the Plan is hereby amended this 20th day of December, 2006.

	
/s/ Thomas W. Weidenkopf 
	
	
By: 
		 
		
THOMAS W. WEIDENKOPF 
	
	
Honeywell International Inc. 
	
	
Senior Vice President – Human Resources and Communications 
	

AMENDMENT

TO THE

SALARY AND INCENTIVE AWARD DEFERRAL PLAN

FOR

SELECTED EMPLOYEES OF HONEYWELL INTERNATIONAL INC.

AND ITS AFFILIATES

        The Salary and Incentive Award Deferral Plan for Selected Employees of Honeywell International Inc. and Its Affiliates is hereby amended, effective January 1, 2007, by replacing the first sentence of Section 3(b) of the Plan in
its entirety with the following sentence: 

	 	
“A Participant may elect to defer an amount not greater than one hundred
percent of an incentive award payable pursuant to the terms of the Honeywell
International Inc. Incentive Compensation Plan for Executive Employees (or any
successor plan) (the ‘Incentive Plan’) or the Honeywell Capital Management
LLC Incentive Compensation Plan (or any successor plan) (the ‘HCM Incentive
Plan’) (each an ‘Incentive Award’), unless the terms of either plan prohibit such
a deferral.”Exhibit 10.9

 

 

AMENDMENT TO THE

 1993 STOCK PLAN 

FOR 

EMPLOYEES OF

HONEYWELL INTERNATIONAL INC. AND ITS AFFILIATES

 

The 1993 Stock Plan for Employees of Honeywell International Inc. and Its Affiliates (“the Plan”) is hereby amended effective December 8, 2006, by replacing Section 17 of the Plan in its entirety with the following paragraph: 

 

	
             
 	
            “17.
 	
            Adjustment Upon Changes in Capitalization
 

Notwithstanding any other provision of the 1993 Plan, the Committee shall make or provide for equitable adjustments to the 1993 Plan, to any outstanding Awards and to the number and class of Shares as to which Awards may be granted to any employee over any three-year period, to all employees through April 25, 2003 and as Incentive Stock Options in any year, and shall make equitable adjustments to any outstanding Awards to prevent dilution or enlargement of rights, including adjustments in the event of distributions to holders of Common stock (other than normal cash dividends), changes in the outstanding Common Stock by reason of stock dividends, stock splits, recapitalizations, mergers, consolidations, combinations or exchanges of Shares, separations, reorganizations, liquidations and the like.  In the event of any offer to holders of Common Stock generally relating to
the acquisition of their Shares, the Committee shall make equitable adjustment in respect of outstanding Awards including revision of outstanding Stock Options, Rights and Units so that they may be exercisable for or payable in the consideration payable in the acquisition transaction.  Any such determination by the Committee shall be conclusive.”Exhibit 10.22

DEFERRED COMPENSATION AGREEMENT

        This Agreement
  is made and entered into this 4th
  day of August 2006, by and between 

       Honeywell International Inc. (“Honeywell”), and David M. Cote (“Executive”).

        WHEREAS,
  Honeywell highly values the efforts of Executive and wishes to assist Executive
  with his personal life insurance program,

        WHEREAS, Honeywell is obligated to
  provide Executive with life insurance coverage in the amount of $10,000,000
  under the terms of Executive’s Employment Agreement dated February 18,
  2002 (the “Employment Agreement”), and

        WHEREAS,
  Honeywell and Executive agree that Honeywell satisfies its obligation to Executive
  for the life insurance coverage by providing Executive with an annual amount
  so that Executive can pay premiums for a personal life insurance policy.

        NOW, THEREFORE, the parties named above agree as follows: 

	1.	The Policy.
      Executive owns a policy of insurance on the joint lives of Executive and
      his wife, Linda Cote (“Co-insured”), issued by the Pacific Life
      Insurance Company (the “Insurer”) and designated as Policy Number
      VF51472790. 
	 	 	 
	2.	Definitions.
  For purposes of this Agreement, the following terms have the meanings set forth
  below: 
	 	 	 
	 	 a.	 “Administrator”
      refers to the Senior Vice President, Human Resources and Communications
      of Honeywell, or any successor position thereto. 
		 	 
		b.	“Agreement” means, this Agreement, as maybe
      amended from time to time in accordance with the terms of this Agreement.
		 	 
		c.	“Annual Payment” means, $124,000.

	 	d.	“Change in Control”
      means, a Change in Control of Honeywell, as defined in the Honeywell International
      Inc. Severance Plan for Senior Executives at the time the Change in Control
      occurs. If such definition does not comply with the requirements of Internal
      Revenue Code section 409A, “Change in Control” has the meaning
      ascribed to the phrase “Change in the Ownership or Effective Control
      of a Corporation or in the Ownership of a Substantial Portion of the Assets
      of a Corporation” under Treasury Department Proposed Regulation 1.409A-3(g)(5),
      as revised from time to time in either subsequent proposed or final regulations.
	 	 	 
	 	e.	“Policy” means,
      the policy of insurance which shall provide $10,000,000 to the beneficiary
      or beneficiaries of the survivor of Executive and Co-insured for a period
      of 48 policy years, which policy is owned by Executive. For purposes of
      this Agreement, Honeywell and Executive agree that the Policy meets the
      requirements for life insurance coverage set forth in the Employment Agreement.
	 	 	 
	 	f.	“Premium” means,
      with respect to the Policy, the annual amount paid by Executive or Co-insured
      following Executive’s death to the Insurer for the Policy.
	 	 	 
	 	g.	“Terminated for Cause”
      means, a determination made by the Board of Directors of Honeywell, at a
      hearing which Executive may attend, that Executive has been terminated for
      cause, as that term is defined in the Employment Agreement at the time the
      hearing occurs.
	 	 	 
	 	h.	“Vested Executive”
      means, Executive if he has attained age 55 or older, has five or more years
      of Vesting Service (as defined in the Honeywell Retirement Earnings Plan),
      and has been the Chief Executive Officer of Honeywell for at least three
      years; provided that in the sole discretion of the Board of Directors of
      Honeywell, if Executive is not age 55, has

	 	 	fewer than five years of Vesting Service
      or has not been Chief Executive Officer of Honeywell for at least three
      years, Executive may be designated as a Vested Executive for the limited
      purpose of this Agreement. Notwithstanding the foregoing, Executive shall
      not be treated as a Vested Executive if Executive is Terminated for Cause.
	 	 
	 3.	 Payment of Annual Payment.    
	 
	 	 a.	 Payments Before Executive’s Death.
      Subject to Sections 5(a), 5(b), 9(a) and 9(b), Honeywell shall pay Executive
      the Annual Payment no later than January 15th
      of each calendar year for which the Annual
      Payment is due; provided, that for 2006, Honeywell shall pay Executive the
      Annual Payment no later than August 31, 2006. Honeywell shall tax and report
      each Annual Payment as wages and shall withhold all applicable federal,
      state and local taxes from the Annual Payment. Executive shall be solely
      responsible for paying the net proceeds of the Annual Payment to the Insurer.    
	 
	 	 b.	 Payments After Executive’s Death.
      Subject to Sections 5(a), 5(b), 9(a) and 9(b), if Executive predeceases
      Co-insured, Honeywell shall pay Co-insured the Annual Payment no later than
      January 15th of
      each calendar year for which the Annual Payment is due. Honeywell shall properly report and withhold
      all applicable federal, state and local taxes from the Annual Payment. Co-insured
      shall be solely responsible for paying the net proceeds of the Annual Payment
      to the Insurer.
	 
	 	 c.	 Additional Payment Provisions.
      The parties anticipate that the Annual Payment shall be sufficient to allow
      Executive (or Co-insured) to pay the Premium and to compensate Executive
      (or Co-insured) for estimated federal, state and local taxes that he or
      she may incur as a result of this Agreement. If the Annual Payment exceeds
      the Premium and Executive’s (or Co-insured’s) actual federal,
      state and local taxes, Executive (or Co- 
	 

	 	 	insured) shall retain the
      difference. If the Annual Payment is less than the Premium and Executive’s
      (or Co-insured’s) actual federal, state and local taxes, Executive
      (or Co-insured) shall be solely responsible for the difference.
	 	 	 
	4.	Policy Ownership.
  Executive (or Co-insured following Executive’s death) shall be the owner
  of the Policy and shall be entitled to exercise all rights of ownership. Honeywell
  shall have no rights with respect to the Policy.
	 	 	 
	5.	Termination Events.
	 	 	 
	 	a.	Termination Events.
      Except as provided in Section 5(b), Honeywell’s obligation to pay the
    Annual Payment shall terminate: 
	 	 	 
	 	 	i.	Automatically upon the earliest to occur
    of the following:
	 	 	 	 	 
	 	 	 	(A)	the payment of the Annual
    Payment that is attributable to the 48th policy year of the Policy,
	 	 	 	 	 
	 	 	 	(B)	the death of the survivor of Executive
    and Co-insured,
	 	 	 	 	 
	 	 	 	(C)	Executive’s Termination for Cause,
	 	 	 	 	 
	 	 	 	(D)	upon written action of the Administrator,
      if Executive’s termination of employment from Honeywell and its subsidiaries
      and affiliates occurs before he obtains an irrevocable right to the Annual
    Payment, as described in paragraph (b) below,
	 	 	 	 	 
	 	 	 	(E)	the year the Policy is no longer in force
      because Executive or Co-insured fails to pay the Premium, or voluntarily
    terminates, relinquishes, surrenders or cancels the Policy,
	 	 	 	 	 
	 	 	 	(F)	the first day Executive provides services
      above a de minimis level and without Honeywell’s consent to an entity
    deemed a competitor of Honeywell’s at any
	 	 	 	 	 
	 	 	 

 

	 	 	 	 	 
	 	 	 	time within three years following Executive’s
      termination of employment from Honeywell (or any subsidiary or affiliate
      of Honeywell). For purposes of this subsection, an entity shall be deemed
      a competitor if that entity and Honeywell could not have interlocking directors
      under 15 U.S.C. §19, as the same may be amended from time to time,
    and
	 	 	 	 	 
	 	 	 	(G)	 upon the written agreement of Honeywell
      and Executive (or Co-insured following Executive’s death).
	 	 	 	 	 
	 	 	b.	Irrevocable Obligation.
    Notwithstanding any other provision of the Agreement:
	 	 	 	 	 
	 	 	 	i.	If Executive becomes a Vested Executive,
      Honeywell’s obligation to pay the Annual Payment shall be irrevocable
      while Executive is employed by Honeywell and thereafter until the earlier
      of (a) the 48th policy year of the Policy, or
      (b) the year the survivor of Executive and Co-insured dies, unless Executive
      incurs a Termination for Cause or the provisions of Section 5(a)(i)(E),
    5(a)(i)(F) or 5(a)(i)(G) apply; and
	 	 	 	 	 
	 	 	 	ii.	If Executive obtains an irrevocable
      right pursuant to the provisions of Section 6 hereof (relating to Change
      in Control), Honeywell’s obligation to pay the Annual Payment shall
      continue until the earlier of (a) the 48th policy year of the Policy, or (b) the year
    the survivor of Executive and Co-insured dies.
	 	 	 	 	 
	 	 	c.	Allocation of Policy
      Death Benefit. If the Agreement terminates
      due to the death of the survivor of Executive and Co-insured, the entire
      death benefit under the Policy shall be paid to the beneficiary or beneficiaries
      of the survivor of Executive or Co- insured. Honeywell shall not be entitled
      to receive any death benefits from the Policy.
	 	 	 	 	 

	 	 	 	 	 
	 	 	d. 	Disposition of Policy.
      If this Agreement terminates for any reason, Executive (or Co-insured
      following Executive’s death) shall be solely responsible for paying
    the Premium as long as the Policy remains in force.
	 	 	 	 	 
	6.  	Change in Control.
    If there is a Change in Control:
	 	 	 	 	 
	 	a.  	The Agreement and Honeywell’s (or its
      successor’s) obligation to pay the Annual Payment shall become irrevocable
    at the time of the Change in Control; and
	 	 	 	 	 
	 	b. 	Honeywell (or its successor) shall immediately
      fund an irrevocable rabbi trust with an amount sufficient to pay all necessary
    projected future Annual Payments.
	 	 	 	 	 
	 	Notwithstanding the creation and funding
      of an irrevocable rabbi trust in accordance with the provisions of this
      Section, Honeywell or its successor shall continue to be responsible for
      the Annual Payment if such amounts are not paid by the trust for any reason,
    or if the trust’s assets become insufficient to pay any required amounts.
	 	 	 	 	 
	7.	Governing Laws & Notices.
	 	 	 	 	 
	 	a.	Governing Law.
      This Agreement shall be governed by and construed in accordance with the
      substantive law of the State of New Jersey without giving effect to the
    choice of law rules of the State of New Jersey. 
	 	 	 	 	 
	 	b.  	Notices.
      All notices hereunder shall be in writing and sent by first class mail with
      postage prepaid. Any notice to Honeywell shall be addressed to the Senior
      Vice President, Human Resources and Communications, Honeywell International
      Inc., 101 Columbia Road, Morristown, New Jersey 07962. Any notice to Executive
      shall be addressed to Executive at the address following such party’s
    signature on this Agreement. Any party may change the address for such
      party herein set forth by giving written notice of such change to the other
    parties pursuant to the Section.
	 	 	 	 	 
	 	 	 	 	 

	
8.      		
Miscellaneous Provisions.	
	 
	 	
a.      		
This Agreement shall not be deemed to constitute a contract of employment between Executive and Honeywell, nor shall any provision restrict the right of Honeywell to discharge Executive or restrict Executive’s right to
terminate employment.	
	 
	 	
b.      		
The masculine pronoun includes the feminine, and the singular includes the plural where appropriate.	
	 
	 	
c.      		
Executive and Co-insured shall be responsible for keeping the Policy in force and remitting Premiums when required by the Insurer in a timely manner. Honeywell shall have no responsibility other than to pay Executive or
Co-insured, as the case may be, the Annual Payment until this Agreement terminates.	
	 
	 	
d.      		
The parties intend for this Agreement to comply with the requirements of Internal Revenue Code section 409A, as amended from time to time, and the related regulations, and the provisions hereof shall be interpreted in a manner
that satisfies the requirements of such Section and the related regulations, and the Agreement shall be operated accordingly. If any provision of this Agreement would otherwise frustrate or conflict with this intent, the provision, term or condition
shall be interpreted and deemed amended so as to avoid this conflict.	
	 
	
9.      		
Amendment, Termination, Administration, and Successors.	
	 
	 	
a.      		
Amendment. This Agreement may be modified or amended by the Board of Directors of Honeywell at any time, but an amendment that affects the rights, benefits or obligations of Executive after
Honeywell’s obligation to pay the Annual Payment becomes irrevocable under Section 5(b) shall not apply unless Executive (or Co-insured following Executive’s death) consents, in writing, to the amendment.	
	 

	 	b.	Termination. The Board of Directors of Honeywell may terminate this Agreement at any time, but a termination which affects the rights, benefits or obligations of Executive after Honeywell’s
obligation to pay the Annual Payment becomes irrevocable under Section 5(b) shall not apply unless Executive (or Co-insured following Executive’s death) consents, in writing, to the termination.
	 	c.	Administration. This
      Agreement shall be administered by the Administrator, whose address is Honeywell
      International Inc., 101 Columbia Road, Morristown, New Jersey 07962. The
      Administrator shall have the authority to make, amend, interpret, and enforce
      all rules and regulations for the administration of the Agreement and decide
      or resolve any and all questions, including interpretations of the Agreement,
      as may arise in connection with the Agreement in the Administrator’s
      sole discretion. In the administration of this Agreement, the Administrator
      may, from time to time, employ agents and delegate to them or to others
      such administrative duties as it sees fit. The Administrator may from time
      to time consult with counsel, who may be counsel to Honeywell. The decision
      or action of the Administrator (or its designee) with respect to any question
      arising out of or in connection with the administration, interpretation
      and application of this Agreement shall be final and conclusive and binding
      upon all persons having any interest in the Agreement. Honeywell shall indemnify
      and hold harmless the Administrator and any persons to whom administrative
      duties under this Agreement are delegated, against any and all claims, loss,
      damage, expense or liability arising from any action or failure to act with
      respect to this Agreement, except in the case of gross negligence or willful
      misconduct by the Administrator. 
	 	 	 

 

	 	 	 
	 	d.	Successors. The terms and conditions of this Agreement shall inure to the benefit of and bind Honeywell and Executive and their successors, assignees, and representatives.
	 	 	 
	10. 	Claims Procedure; Agreement Information. 
	 	 	 
	 	a.	Named Fiduciary. The
      Administrator is hereby designated as the named fiduciary under this Agreement.
      The named fiduciary shall have authority to control and manage the operation
      and administration of the Agreement. 
	 	 	 
	 	b.   	Claims Procedures.
      Any controversy or claim arising out of or relating to this Agreement shall
      be filed with the Administrator, Honeywell International Inc., 101 Columbia
      Road, Morristown, New Jersey 07962. The Administrator shall make all determinations
      concerning such claim. 
	 	 	 
	 	 	     Any decision by the Administrator
    denying such claim shall be in writing and shall be delivered to all parties
    in interest in accordance with the notice provisions of Section 7(b) hereof.
    The denial shall state a specific reason for it, shall cite to pertinent provisions
    of the Agreement and, where appropriate, provide an explanation as to how
    the claimant can perfect the claim. The denial shall include a statement that
    an appeal must be in writing to the Administrator within sixty (60) days after
    receipt of the Administrator’s notice of the denial and of claimant’s
    right to bring a civil action under Section 502(a) of ERISA following a denial
    on appeal. This notice of denial of benefits shall be provided within ninety
    (90) days of the Administrator’s receipt of the claimant’s claim
    for benefits. If the Administrator fails to notify the claimant of its decision
    regarding the claim, the claim shall be considered denied, and the claimant
    shall then be permitted to proceed with the appeal as provided in this Section.

 

 

 

	 	 	     A claimant who has been completely or partially denied a benefit shall be entitled to appeal this denial of his/her claim by filing a written statement of his/her position with the Administrator no later than sixty (60) days
  after receipt of the written notification of such claim denial. The Administrator shall schedule and provide an opportunity for a full and fair review of the issue within thirty (30) days of receipt of the appeal. If the claimant appeals a denial of
  benefits, the Administrator shall reexamine all facts related to such claim and its denial, taking into account all comments, documents, records and other information submitted by the claimant relating to the claim, regardless of whether such
  information was submitted or considered in the initial benefit determination, and shall make a final determination as to whether the denial of benefits is justified under the circumstances.
	 	 	 
	 	 	     Following the review of information submitted by the claimant, either through the hearing process or otherwise, the Administrator shall render a decision on the review of the denied claim in the following manner: 
	 	 	 
	 	 	i. 	The Administrator shall make its decision regarding the merits of the denied claim within sixty (60) days following receipt of the request for review (or within 120 days after such receipt, in a case where there are special
circumstances requiring extension of time for reviewing the appealed claim). The Administrator shall deliver the decision to the claimant in writing. If an extension of time for reviewing the appealed claim is required because of special circumstances, written notice of the extension shall be furnished to
the claimant prior to the commencement of the extension. If the decision on review is not furnished within the prescribed time, the claim shall be deemed
	 	 	 
	 	 	 

    

	 	 	 	denied on review. The Administrator’s decision shall be binding on all persons affected thereby.
	 	 	 	 
	 	 	ii. 	The decision on review shall include the specific reason for the adverse determination; specific reference to pertinent Agreement provisions; a statement that the claimant is entitled to receive, upon request and free of charge,
reasonable access to, and copies of, all documents, records and other information relevant to the claimant's claim for benefits; and a statement that the claimant has a right to bring a civil action under Section 502(a) of ERISA.
	 	 	 	 
	 	c. 	Agent for Service of Process. The agent for service of process on the Agreement and service of legal process shall be the Senior Vice President, Human Resources and Communications, Honeywell
International Inc., 101 Columbia Road, Morristown, New Jersey 07962.
	 	 	 	 
	 	d. 	Agreement Year. The agreement year of the Agreement shall be the calendar year.
	 	 	 	 

	
August 4, 2006 		 		 		 		
/s/ David M. Cote	 
	
Date 		 		 		 		
David M. Cote 		 
	 	
	 		 		 		 		
100 Columbia Road 		 
	 	
	 		 		 		 		
Morristown, NJ 07962 		 
	 		 		 		 		
                            Address 		 
	 	
	 		 		
HONEYWELL INTERNATIONAL INC. 	
	 	
	 	
	
August 7, 2006 		 		
By: 		 		
/s/ Thomas W. Weidenkopf 		 
	
Date 		 		 		 		 		 
	 		 		
Title: 		 		
SVP HR & Communications

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