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)

 

The Supplemental Non-Qualified Savings Plan
for Highly Compensated Employees of Honeywell International Inc. and Its Subsidiaries (the “Plan”) shall be, and hereby
is, amended to provide an increased rate of employer matching contributions posted on and after July 1, 2012.

 

 

		1.	The following paragraph shall be added to the end of Section 5(b) of the Plan:

 

 

“Effective for Participant Deferred
Contributions posted to a Participant’s Account on or after July 1, 2012, there shall be credited to the Participant’s
Account Plan Employer Contributions in an aggregate amount equal to (i) minus (ii), where (i) is 37.5% (for Participants entitled
to a 37.5% Employer Contribution in the Qualified Savings Plans) or 75% (for Participants entitled to a 75% Employer Contribution
in the Qualified Savings Plans) of the lesser of (x) 8% of the Participant’s Base Annual Salary without regard to any limitations
that may apply under the Code, or (y) the sum the Participant contributes as Before-Tax Contributions and/or After-Tax Contributions
to the Qualified Savings Plans and as Participant Deferred Contributions, and (ii) is the total amount of Employer Contributions
contributed to the Participant’s account under the Qualified Savings Plans; provided, however, that in no event shall the
combined Plan Employer Contributions and Savings Plan Employer Contributions exceed 8% of the Participant’s Base Annual Salary
without regard to any limitations that may apply under the Code, and provided, further, that Plan Employer Contributions shall
not be made with respect to a Participant during any period of suspension of Employer Contributions with respect to such Participant
under the terms of the Qualified Savings Plans, whether or not such Participant continues to make Participant Contributions under
the Qualified Savings Plans during the period of such suspension.”

 

		2.	In all other respects, the Plan shall
remain the same.

.Exhibit 10.2

2011
Stock Incentive Plan

of Honeywell International Inc. and its Affiliates

Restricted
Unit Agreement

          RESTRICTED
UNIT AGREEMENT made in Morris Township, New Jersey, as of the [DAY] day of
[MONTH, YEAR] (the “Award Date”) between Honeywell International Inc. (the
“Company”) and [EMPLOYEE NAME] (the “Employee”).

	
  

 	
  

 
	
 1.

 	
 Grant
 of Award. The
 Company has granted you [NUMBER] Restricted Units, subject to the provisions
 of this Agreement and the 2011 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.

 
	
  

 	
  

 
	
 2.

 	
 [FOLLOWING INCLUDED AT COMMITTEE’S DISCRETION: Dividend Equivalents. Except
 as otherwise determined by 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[ or Full Retirement], the incurrence
 of a Disability, or the occurrence of a Change in Control, the Restricted
 Units [and Additional Restricted Units] will vest as follows: [VESTING
 PROVISIONS CONSISTENT WITH THE PLAN]. 

 

	
  

 	
  

 	
  

 
	
 5.

 	
 Form
 and Timing of Payment. Vested Restricted Units will be redeemed solely for Shares.
 [FOLLOWING INCLUDED AT COMMITTEE’S DISCRETION: Except as otherwise determined
 by the Management Development and Compensation Committee (the “Committee”),
 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. 

 
	
  

 	
  

 	
  

 
	
 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.

 	
 Full
 Retirement, Death or Disability.

 
	
  

 	
  

 	
  

 
	
  

 	
 a.

 	
 Vesting.
 If your
 Termination of Employment occurs due to death or you incur a Disability
 before the last 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
 Committee has determined that the payee is the duly appointed executor or
 administrator of your estate, subject to Section 7.14 of the Plan.

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 [INCLUDE AS APPLICABLE: If your Termination of Employment due to Full
 Retirement occurs before the last vesting date described in Section 4 of this
 Agreement, you will be vested in an additional number of Restricted Units
 [and related Additional Restricted Units] equal to the product of (a) times (b),
 minus (c), where (a) equals the total number of Restricted Units specified in
 Section 1 of this Agreement [plus the total number of Additional Restricted
 Units (both vested and unvested) credited to you as of your Termination of
 Employment], (b) equals the ratio of your complete years of service as an
 employee of the Company or its Affiliates between the Award Date and your
 Termination of Employment, and the number of complete years of service
 required under this Agreement to be fully vested in all Restricted Units [and
 Additional Restricted Units], and (c) equals the number of Restricted Units
 [and Additional Restricted Units] that vested before your Termination of
 Employment. 

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 OR For the avoidance of doubt, if your Termination of Employment due
 to Full Retirement occurs before the last vesting date described in Section 4
 of this Agreement, you will not vest in any Restricted Units [or Additional
 Restricted Units] as a result of your termination.

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 OR If your Termination of Employment due to Full Retirement occurs
 before the last vesting date described in Section 4 of this Agreement, you
 will be vested in an 

 

	
  

 	
  

 	
  

 
	
  

 	
  

 	
 additional number of Restricted Units [and related Additional
 Restricted Units] equal to [INSERT VESTING PROVISION ON FULL RETIREMENT].]

 
	
  

 	
  

 	
  

 
	
  

 	
 b.

 	
 Payment.
 [Subject to a
 deferral election made pursuant to Section 12,] if your Termination of
 Employment occurs due to death[ or Full Retirement,] or you incur a
 Disability, before the last 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 Termination of Employment or
 Disability, as applicable, but in no event later than the last day of the
 calendar year in which such Termination of Employment or Disability occurs.
 [INCLUDE AS APPLICABLE: Notwithstanding the preceding sentence, if you are a
 “specified employee” under Section 409A of the Code as of the date of your
 Termination of Employment occurs due to Full Retirement, payment for vested
 Restricted Units [and Additional Restricted Units] will be made on the first
 business day of the first calendar month that begins after the six-month
 anniversary of your Termination of Employment, or, if earlier, your death.

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 [Subject to a deferral election made pursuant to Section 12,] if (i)
 you are eligible for Full Retirement on the Award Date or you become eligible
 for Full Retirement before the last vesting date described in Section 4 of
 this Agreement and (ii) your Termination of Employment does not occur before
 the last 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 the applicable vesting date described in
 Section 4 of this Agreement but in no event later than the last day of the
 calendar year in which each such vesting date occurs.] 

 
	
  

 	
  

 	
  

 
	
 8.

 	
 Change
 in Control. In
 the event of a Change in Control, Restricted Units [and Additional Restricted
 Units] that have not vested or terminated as of the date of Change in Control
 will immediately vest. No later than the earlier of 90 days after the date of
 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 a multiplication factor, as set forth in the Plan. 

 
	
  

 	
  

 	
  

 
	
 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 otherwise 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.

 
	
  

 	
  

 	
  

 
	
  

 	
 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
 (including but not limited to Section 11 of the Stock Option Award Agreement
 for the Option granted on February 25, 2011, if applicable) 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. 

 
	
  

 	
  

 	
  

 
	
  

 	
 b.

 	
 Remedies.
 

 

	
  

 	
  

 	
  

 
	
  

 	
 1.

 	
 You expressly agree and acknowledge that the forfeiture provisions of
 subsection 11.b.3. of this Agreement shall apply if, from the Award Date
 until the date that is twenty-four (24) months after your Termination of
 Employment for any reason, you 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 Committee) with Honeywell and the
 Committee has not approved the agreement or arrangement in writing.

 
	
  

 	
  

 	
  

 
	
  

 	
 2.

 	
 In addition to the relief described in subsection 11.b.3 of this
 Agreement and 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 Committee determines, in its sole judgment, that you have violated the
 terms of any such 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 Committee’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 prior to the date of the
 Committee’s determination.

 
	
  

 	
  

 	
  

 
	
  

 	
 3.

 	
 If the Committee determines, in its sole judgment, that 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 Committee’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 six (6) months prior to your 

 

	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Termination of Employment and ending on the date of the Committee’s
 determination.

 
	
  

 	
  

 	
  

 
	
  

 	
 4.

 	
 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.

 	
 [FOLLOWING INCLUDED AT COMMITTEE’S DISCRETION: Deferral of Payment. If you
 would like to defer payment on the Restricted Units and related Additional
 Restricted Units, you may do so in writing on the deferral form provided with
 this grant setting forth your desired payment schedule. The deferral will not
 be permitted if, within the determination of the Company, such deferral would
 result in a violation of Section 409A of the Internal Revenue Code of 1986,
 as amended (the “Code”) and the regulations promulgated thereunder. If the
 deferral is not permitted, then payment will be made as provided in Section 5
 or 7(b), as applicable. All Additional Restricted Units will be subject to
 the same deferral restrictions as the Restricted Units to which they relate.
 Except as otherwise determined by the Company, Dividend Equivalents credited
 on deferred Restricted Units and deferred Additional Restricted Units will be
 paid in cash as soon as practicable following the date such Dividend
 Equivalents are credited but in no event later than 2-1/2 months following
 the end of the year in which the Dividend Equivalents vest.]

 
	
  

 	
  

 	
  

 
	
 13.

 	
 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.

 
	
  

 	
  

 	
  

 
	
 14.

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

 
	
  

 	
  

 	
  

 
	
 15.

 	
 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. 

 
	
  

 	
  

 	
  

 
	
 16.

 	
 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.

 
	
  

 	
  

 	
  

 
	
 17.

 	
 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. 

 
	
  

 	
  

 	
  

 
	
  

 	
 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.

 
	
  

 	
  

 	
  

 
	
 18.

 	
 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.

 
	
  

 	
  

 	
  

 
	
  

 	
 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.

 

	
  

 	
  

 	
  

 
	
 19.

 	
 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. 

 
	
  

 	
  

 	
  

 
	
 20.

 	
 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]. 

 
	
  

 	
  

 	
  

 
	
 21.

 	
 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.
 

 
	
  

 	
  

 	
  

 
	
 22.

 	
 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. 

 
	
  

 	
  

 	
  

 
	
 23.

 	
 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. 

 
	
  

 	
  

 	
  

 
	
 24.

 	
 Acknowledgements. By accepting this Agreement, you
 agree to the following: (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 Restricted Units, and
 that any prior agreements, commitments or negotiations concerning the
 Restricted Units are replaced and superseded. 

 
	
  

 	
  

 	
  

 
	
 25.

 	
 Award
 Acceptance. To
 retain this Award, you must accept it by signing the Agreement below and, by
 signing this Agreement, you will be deemed to consent to the application of
 the terms and conditions set forth in this Agreement and the Plan. If you do
 not wish to accept this Award, you must contact Honeywell International Inc.,
 Executive Compensation/AB-1D, 101 Columbia Road, Morristown, New Jersey 07962
 in writing within thirty (30) days of the Award Date. 

 

I
Accept:

	
  

 	
  

 	
  

 
	
  

 	

 

 
	
  

 	
 Signature

 	
 Date

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