Document:

United Technologies Corporation Senior Executive Severance Plan

 Exhibit 10.4 
 UNITED TECHNOLOGIES CORPORATION 
 SENIOR EXECUTIVE SEVERANCE PLAN 

AMENDMENT 
 WHEREAS, the Board
of Directors has from time to time, approved modifications to benefits and contract terms under the Senior Executive Severance Plan (the “Plan”), resulting in different benefits, terms and conditions for Participants, depending on their
date of participation; 
 WHEREAS, the Board of Directors wishes to provide the same level of benefits and contract terms for all
executives covered by the Plan; 
 WHEREAS, each Participant has agreed to amend their Plan Agreement to provide, in the event of a Change
in Control, a cash severance benefit equal to 2.99 times base salary and target bonus following an involuntary termination or termination following a material adverse change in job responsibilities, location, compensation, or benefits (i.e. a
termination for “Good Reason”); 
 WHEREAS, each Participant has agreed to the following benefit reductions to the extant their
own agreements provided for any of the following benefits: 
  

	 	(i)	Elimination of three years of additional pension service credit and benefit continuation; 

 

	 	(ii)	Elimination of reimbursement for excise taxes imposed under Internal Revenue Code Section 280(G) and income taxes due on such reimbursement; and 

 

	 	(iii)	Elimination of the ability to resign from the Corporation following a Change in Control and receive Plan benefits. Plan benefits will be provided only if the Participant is
involuntarily terminated or terminates for “Good Reason” (as defined in Attachments A and B); and 

 WHEREAS, the
Board of Directors has closed the Plan to new Participants effective June 15, 2009; 
 NOW THEREFORE, the Plan is hereby amended as
follows: 
  

	 	1.	The following paragraph shall be added under the Section captioned “Agreements”: 

Each Participant who became covered under the Plan prior to December 10, 2003 shall enter into an amendment of their Plan Agreement
substantially in the form set forth in Attachment A and each Participant who became covered under the Plan after December 10, 2003 shall enter into an amendment of their Plan Agreement substantially in the form set forth in Attachment B (the
“Amendment”). Plan benefits will be limited in accordance with each Participant’s amended Agreement, notwithstanding anything to the contrary in the Plan or Agreement as in effect prior to the date of such Amendment. 

 

	 	2.	The following paragraph is hereby added to the Plan following the Section captioned “Miscellaneous”: 

Closure of the Plan. Effective June 15, 2009, no executive or other person shall become a Participant under this Plan.

 Attachment A 
 Senior Executive Severance Agreement 
 Amendment 

WHEREAS,
                        , (the “Executive”) has been selected by the Board of Directors of the Corporation to
participate in the Senior Executive Severance Plan (the “Plan”); and 
 WHEREAS, the Board of Directors has, from time to time,
amended the Plan prospectively for new Executives; and 
 WHEREAS, the Board of Directors has approved the amendment of existing Senior
Executive Plan Agreements for the purpose of conforming certain Plan benefits and benefit eligibility requirements to those specified by the most recent amendment to the Plan adopted effective June 11, 2008; and 

WHEREAS, the Executive hereby consents and agrees to such a conforming amendment of his Agreement, including for the purposes of:
(i) prohibiting the payment of benefits for voluntary termination unless such resignation of employment is for “Good Reason”, as defined herein; and (ii) modifying and reducing certain change in control severance related benefits
presently provided for in his Agreement;. 
 NOW THEREFORE, the Executive and the Corporation hereby agree to amend the Executive’s
Agreement as follows: 
  

	 	1.	The paragraph that immediately precedes Section A is hereby deleted and the following is substituted in lieu thereof: 

The Executive shall be entitled to the benefits provided for in this Agreement In the event the Corporation or any subsidiary or affiliate
terminates the Executive’s employment within two years after a Change in Control. The Executive will not receive these benefits if employment terminates by reason of death, disability, retirement on or after normal retirement age or if the
Executive voluntarily terminates employment, unless such voluntary termination is for “Good Reason”. Good Reason shall mean, without the Executive’s express written consent, the occurrence of any one or more of the following:

  

	 	(i)	The assignment of the Executive to duties materially inconsistent with the Executive’s authorities, duties, responsibilities, and status (including reporting relationships)
as an employee of the Corporation, or a reduction or alteration in the nature or status of the Executive’s authorities, duties, or responsibilities from those in effect immediately preceding the Change of Control; 

 

	 	(ii)	The Corporation’s requiring the Executive to be based at a location which is at least fifty (50) miles further from the current primary residence than is such residence
from the Corporation’s current headquarters, except for required travel on the Corporation’s business to an extent substantially consistent with the Executive’s business obligations immediately preceding the Change of Control;

  

	 	(iii)	A reduction by the Corporation in the Executive’s base salary as in effect on the Effective Date or as the same shall be increased from time to time;

  

	 	(iv)	A material reduction in the Executive’s level of participation in any of the Corporation’s short- and/or long-term incentive compensation plans, or employee benefit or
retirement plans, policies, practices, or arrangements in which the Executive participates, from the levels in place during the fiscal year immediately preceding the Change of Control; provided, however, that reductions in the levels of
participation in any such plans shall not be deemed to be “Good Reason” if the Executive’s reduced level of participation or benefits in each such program remains substantially consistent with the average level of participation of
other executives who have positions commensurate with the Executive’s position; or 

  

	 	(v)	The failure of the Corporation to obtain a satisfactory agreement from any successor to the Corporation to assume and agree to perform its obligations under this Agreement.

 In the event of any of the foregoing occurrences, the Executive shall notify the Corporation of the event
constituting the basis for a termination for Good Reason. The Corporation may then take action to cure the Good Reason event or condition. If the Corporation does not remedy the basis for a Good Reason termination within 30 days of receipt of notice
from the Executive, the Executive may then terminate his employment for Good Reason and qualify for the benefits provided for in this Agreement. 
 The existence of Good Reason shall not be affected by the Executive’s temporary incapacity due to physical or mental illness not constituting a Disability. The Executive’s Retirement shall constitute a
waiver of the Executive’s rights with respect to any circumstance constituting Good Reason. The Executive’s continued employment shall not constitute a waiver of the Executive’s rights with respect to any circumstance constituting
Good Reason. 

  
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	 	2.	Section A of the Agreement is amended and restated as follows: 

  

	 	A.	Lump Sum Cash Payment. On or before the Executive’s last day of employment with the Corporation, the Corporation will pay to the Executive, as compensation for
services rendered to the Corporation, a lump sum cash amount (subject to any applicable payroll or other taxes required to be withheld) equal to 2.99 multiplied by the sum of (a) the Executive’s current annual base salary plus (b) the
amount of incentive compensation award that would be payable to the Executive in respect of the calendar year in which the Change in Control occurs, calculated on the basis of target level performance. (The incentive compensation referred to in this
paragraph is that amount paid or payable under the Annual Executive Incentive Compensation Plan, or any successor plans, of the Corporation.) In the event there are fewer than thirty-six (36) whole or partial months remaining from the date of
the Executive’s termination to his or her normal retirement date, the amount calculated in this paragraph will be reduced by multiplying it by a fraction the numerator of which is the number of whole or partial months so remaining to his normal
retirement date and the denominator of which is thirty-six (36). 

  

	 	3.	Section B of the Agreement is amended and restated as follows: 

  

	 	B.	Long Term Incentive Awards. 

  

	 	(i)	Performance Based Long Term Incentive Awards. Performance based Long Term Incentive Awards granted under the Corporation’s 2005 Long Term Incentive Plan (and
any predecessor or successor long term incentive plan) shall vest as of the date of the Change in Control. The value of any such award will be determined on the basis of target level performance unless actual measured performance exceeds target, in
which case actual performance will determine vesting and award value. 

  

	 	(ii)	Vesting of Stock Options and Stock Appreciation Rights. The vesting period for stock option and stock appreciation rights granted under the 2005 Long Term Incentive
Plan (and any predecessor or successor long term incentive plan) will be changed, effective as of the date of the Change in Control, to the earlier of: (i) the scheduled vesting date; or (ii) the one year anniversary of the
date the award was granted. In addition, regardless of the Executive’s age or retirement eligibility, the period to exercise stock options and stock appreciation rights will not be less than seven months following termination of employment.

  

	 	4.	Section C, “Special Retirement Benefits” is hereby deleted from the Agreement. There will be no enhancement to pension benefits by reason of a Change in Control.

  

	 	5.	Section D, “Other Provisions” is hereby amended as follows: 

  

	 	(a)	Subsection (i), “Insurance and Other Special Benefits” is deleted in its entirety. The Executive’s right to extended coverage under health, life insurance,
disability and other benefit plans following termination of employment shall be determined in accordance with the terms of such plans as then in effect and shall not be enhanced by reason of a Change in Control. There will be no post-termination
continuation of fringe benefits. 

  

	 	(b)	Subsection (ii), “Relocation Assistance” is deleted in its entirety. 

 

	 	(c)	Subsection (iii), “Incentive Compensation” is deleted in its entirety, provided however, that deletion of this subsection is not intended and shall not be
construed to eliminate or reduce the Executive’s right to any Annual Incentive Compensation Plan award that may be payable in accordance with the terms of such plan. 

 

	 	(d)	Subsection (iv), “Savings and Other Plans” is deleted in its entirety. 

 

	 	6.	Section E, “Certain Additional Payments by the Corporation” is deleted in its entirety and replaced by the following: 

 

	 	E.	Taxes. The Executive shall be responsible for all taxes due on payments and benefits provided under this Agreement, including any excise taxes that may be due under
Section 280G of the Internal Revenue Code. The Corporation shall withhold taxes to the extent required by law. 

  
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	 	7.	The following subsection shall be added to Section G of the Agreement: 

  

	 	(vii)	Compliance with Section 409A. Notwithstanding any other provision of this Agreement, if and to the extent that rights or payments provided here are determined
to be subject to Section 409A of the Internal Revenue Code, the Executive agrees to make any amendments to this Agreement that may be required to comply with Section 409A. If the Executive is a “specified employee” under
Section 409A, any payments subject to Section 409A will be deferred for six months from the date of termination of employment, to the extent required by Section 409A. Any deferred payments shall be credited with interest at the rate
credited to fixed income accounts in the Corporation’s Deferred Compensation Plan. 

 Any capitalized terms used herein
shall have the same meaning as defined in the Agreement or Plan, as applicable. The Agreement continues in full force and effect except for the provisions specifically amended herein. 

  
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 Attachment B 
 Senior Executive Severance Agreement 
 Amendment 

WHEREAS,
                         (the “Executive”) has been selected by the Board of Directors of the Corporation to
participate in the Senior Executive Severance Plan (the “Plan”); and 
 WHEREAS, the Board of Directors has, from time to time,
amended the Plan prospectively for new Executives; and 
 WHEREAS, the Board of Directors has approved the amendment of existing Senior
Executive Plan Agreements for the purpose of conforming certain Plan benefits and benefit eligibility requirements to those specified by the most recent amendment to the Plan adopted effective June 11, 2008; and 

WHEREAS, the Executive hereby consents and agrees to such a conforming amendment of his Agreement, including for the purposes of:
(i) prohibiting the payment of benefits for voluntary termination unless such resignation of employment is for “Good Reason”, as defined herein; and (ii) modifying and reducing certain change in control severance related benefits
presently provided for in his Agreement;. 
 NOW THEREFORE, the Executive and the Corporation hereby agree to amend the Executive’s
Agreement as follows: 
  

	 	1.	The paragraph that immediately precedes Section A is hereby deleted and the following is substituted in lieu thereof: 

The Executive shall be entitled to the benefits provided for in this Agreement In the event the Corporation or any subsidiary or
affiliate terminates the Executive’s employment within two years after a Change in Control. The Executive will not receive these benefits if employment terminates by reason of death, disability, retirement on or after normal retirement age or
if the Executive voluntarily terminates employment, unless such voluntary termination is for “Good Reason”. Good Reason shall mean, without the Executive’s express written consent, the occurrence of any one or more of the following:

  

	 	(i)	The assignment of the Executive to duties materially inconsistent with the Executive’s authorities, duties, responsibilities, and status (including reporting relationships)
as an employee of the Corporation, or a reduction or alteration in the nature or status of the Executive’s authorities, duties, or responsibilities from those in effect immediately preceding the Change of Control; 

 

	 	(ii)	The Corporation’s requiring the Executive to be based at a location which is at least fifty (50) miles further from the current primary residence than is such residence
from the Corporation’s current headquarters, except for required travel on the Corporation’s business to an extent substantially consistent with the Executive’s business obligations immediately preceding the Change of Control;

  

	 	(iii)	A reduction by the Corporation in the Executive’s base salary as in effect on the Effective Date or as the same shall be increased from time to time;

  

	 	(iv)	A material reduction in the Executive’s level of participation in any of the Corporation’s short- and/or long-term incentive compensation plans, or employee benefit or
retirement plans, policies, practices, or arrangements in which the Executive participates, from the levels in place during the fiscal year immediately preceding the Change of Control; provided, however, that reductions in the levels of
participation in any such plans shall not be deemed to be “Good Reason” if the Executive’s reduced level of participation or benefits in each such program remains substantially consistent with the average level of participation of
other executives who have positions commensurate with the Executive’s position; or 

  

	 	(v)	The failure of the Corporation to obtain a satisfactory agreement from any successor to the Corporation to assume and agree to perform its obligations under this Agreement.

 In the event of any of the foregoing occurrences, the Executive shall notify the Corporation of the event
constituting the basis for a termination for Good Reason. The Corporation may then take action to cure the Good Reason event or condition. If the Corporation does not remedy the basis for a Good Reason termination within 30 days of receipt of notice
from the Executive, the Executive may then terminate his employment for Good Reason and qualify for the benefits provided for in this Agreement. 
 The existence of Good Reason shall not be affected by the Executive’s temporary incapacity due to physical or mental illness not constituting a Disability. The Executive’s Retirement shall constitute a
waiver of the Executive’s rights with respect to any circumstance constituting Good Reason. The Executive’s continued employment shall not constitute a waiver of the Executive’s rights with respect to any circumstance constituting
Good Reason. 

  
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	 	2.	Section A of the Agreement, “Lump Sum Cash Payment” is amended by deleting clause (b) of the first sentence (“(b) the amount of the Executive’s
most recent incentive compensation award”) and restating it as follows: 

  

	 	(b)	the amount of incentive compensation award that would be payable to the Executive in respect of the calendar year in which the Change in Control occurs, calculated on the basis
of target level performance. 

  

	 	3.	Section B, “Certain Additional Payments by the Corporation” is deleted in its entirety and replaced by the following: 

 

	 	B.	Taxes. The Executive shall be responsible for all taxes due on payments and benefits provided under this Agreement, including any excise taxes that may be due under
Section 280G of the Internal Revenue Code. The Corporation shall withhold taxes to the extent required by law. 

  

	 	4.	The following subsection shall be added to Section D of the Agreement: 

  

	 	(viii)	Compliance with Section 409A. Notwithstanding any other provision of this Agreement, if and to the extent that rights or payments provided here are determined
to be subject to Section 409A of the Internal Revenue Code, the Executive agrees to make any amendments to this Agreement that may be required to comply with Section 409A. If the Executive is a “specified employee” under
Section 409A, any payments subject to Section 409A will be deferred for six months from the date of termination of employment, to the extent required by Section 409A. Any deferred payments shall be credited with interest at the rate
credited to fixed income accounts in the Corporation’s Deferred Compensation Plan. 

 Any capitalized terms used herein
shall have the same meaning as defined in the Agreement or Plan, as applicable. The Agreement continues in full force and effect except for the provisions specifically amended herein. 

  
 -6-Schedule of Terms for Restricted Share Unit Retention Awards

 Exhibit 10.12 
 United Technologies Corporation 
 Long Term Incentive Plan 

Executive Leadership Group 

Restricted Share Unit Retention 

Award 
 Schedule of Terms

 United Technologies Corporation (the “Corporation”) hereby awards to the executive designated in the Statement of Award (the
“Recipient”), who has accepted membership in the Corporation’s Executive Leadership Group (the “ELG”), Restricted Share Units (an “Award”) pursuant to the United Technologies Corporation 2005 Long Term Incentive
Plan as amended and restated on April 9, 2008, including subsequent amendments (the “LTIP”). The Award is subject to this Schedule of Terms and the terms, definitions, and provisions of the LTIP. 

Restricted Share Unit 
 A Restricted Share Unit (an
“RSU”) is equal in value to one share of Common Stock of the Corporation (“Common Stock”). RSUs are convertible into shares of Common Stock if the Recipient remains a member of the ELG and retires from the Corporation on or after
age 62 with at least three years of ELG service (see “Vesting” below). 
 Acknowledgement and Acceptance of Award 

The number of RSUs is set forth in the Statement of Award. The Recipient must acknowledge and accept the terms and conditions of the RSU Award by signing and
returning the appropriate portion of the Statement of Award to the Stock Plan Administrator. 
 Vesting 

RSUs vest upon retirement from the Corporation on or after age 62 with completion of at least three years of service as a member of the ELG (the “Vesting
Date”). All RSU’s will be forfeited in the event of termination from employment before age 62 for any reason, including death, total and permanent disability and retirement before age 62. All RSU’s will also be forfeited if the
Recipient’s membership in the ELG ceases for any reason. 
 No shareowner rights 
 An RSU is the right to receive a share of Common Stock in the future, subject to continued employment and membership in the ELG. The holder of an RSU has no voting, dividend or other rights accorded to owners of
Common Stock. 
 Conversion of RSUs/Distribution of Shares 
 RSUs will be converted into shares of Common Stock, effective as of the date on which the shares are distributed (the “Distribution Date”). If the Recipient is not a Specified Employee on the Vesting
Date, the shares of Common Stock will be distributed on the first business day of the first month following the Vesting Date. Except as provided in the following sentence, if the Recipient is among the Corporation’s 50 highest paid employees
(i.e., a “Specified Employee” as defined in the LTIP) on the Vesting Date, the distribution will be made on the first business day of the seventh month following the Vesting Date (or, if later, on July 2, 2012). If the Recipient is a
Specified Employee on the Vesting Date, and the Recipient dies after the Vesting Date and before the scheduled Distribution Date, the shares of Common Stock will be distributed to the Recipient’s beneficiary on the first business day of the
first month following the Recipient’s death. 
 Dividend Equivalents 
 Although the Recipient will not receive dividend payments in respect of RSUs, each RSU will be credited with an amount equal to the dividend paid on a share of Common Stock, resulting in additional RSUs credited to
the Recipient equal in value to the number of RSUs held multiplied by the dividend paid on a share of Common Stock. 

 Adjustments 

If the Corporation effects a subdivision or consolidation of shares of Common Stock or other capital adjustment, the number of RSUs (and the number of shares of
Common Stock that will be issued upon conversion) shall be adjusted in the same manner and to the same extent as all other shares of Common Stock of the Corporation. In the event of material changes in the capital structure of the Corporation
resulting from: the payment of a special dividend (other than regular quarterly dividends) or other distributions to shareowners without receiving consideration therefore; the spin-off of a subsidiary; the sale of a substantial portion of the
Corporation’s assets; a merger or consolidation in which the Corporation is not the surviving entity; or other extraordinary non-recurring events affecting the Corporation’s capital structure and the value of Common Stock, equitable
adjustments shall be made in the terms of outstanding Awards, including the number of RSUs and underlying shares of Common Stock as the Committee on Compensation and Executive Development of the Corporation’s Board of Directors (the
“Committee”), in its sole discretion, determines are necessary or appropriate to prevent the dilution or enlargement of the rights of Award Recipients. 
 ELG Covenants 
 Acceptance of the ELG RSU Award constitutes agreement and acceptance by the Recipient of the
following ELG covenants: 
  

	 	•	 	 Pre-Vesting Date Covenants 

  

	 	(a)	During the period of the Recipient’s employment, and for a period of two years following termination of employment, the Recipient will not disclose “Company
Information”. 

 “Company Information” as used in this Agreement means (i) confidential or proprietary
information including without limitation information received from third parties under confidential or proprietary conditions; (ii) information subject to the Corporation’s attorney-client or work-product privilege; and (iii) other
technical, business or financial information, the use or disclosure of which might reasonably be construed to be contrary to the Corporation’s interests. 
  

	 	(b)	During the Period of the Recipient’s employment, and for a period of two years following termination of employment, the Recipient will not initiate, cause or allow to be
initiated (under those conditions which he or she controls) any action which would reasonably be expected to encourage or to induce any employee of the Corporation or any of its affiliated entities to leave the employ of the Corporation or its
affiliated entities. In this regard, the Recipient agrees that he or she will not directly or indirectly recruit any executive or other employee of the Corporation or provide any information or make referrals to personnel recruitment agencies or
other third parties in connection with executives of the Corporation and other employees. 

  

	 	•	 	 Post-Vesting Date Covenants 

  

	 	(c)	The pre-Vesting Date covenants described in (a) and (b) above will remain in effect for three years following the Vesting Date. 

 

	 	(d)	To further ensure the protection of Company Information, the Recipient agrees not to accept employment in any form (including entering into consulting relationships or similar
arrangements) for a period of three years after the Vesting Date with any business that: (i) competes directly or indirectly with any of the Corporation’s businesses; or (ii) is a material customer of or a material supplier to any of
the Corporation’s businesses unless the Recipient has obtained the written consent from the Senior Vice President, Human Resources & Organization (or the successor to such position), which consent shall be granted or withheld in his or
her sole discretion. The Recipient agrees that the terms of this paragraph are reasonable. However, if any portion of this paragraph is held by competent authority to be unenforceable, this paragraph shall be deemed amended to limit its scope to the
broadest scope that such authority determines is enforceable, and as so amended shall continue in effect. 

  

	 	(e)	For three years after the Vesting Date, the Recipient will not make any statements or disclose any items of information which, in either case are or may reasonably be considered
to be adverse to the interests of the Corporation. The Recipient agrees that he or she will not disparage the Corporation, its executives, directors or products. 

 The ELG covenants set forth in this Schedule of Terms are in addition to other obligations and commitments of the ELG program, the terms and conditions of the LTIP and the Recipient’s intellectual property
agreement with the Corporation (and as each may be amended from time to time). 
 Change of Control 

In the event of a Change-in-Control of the Corporation, the Committee may, in its discretion, take certain actions with respect to outstanding Awards to assure
fair and equitable treatment of LTIP Award Recipients. However, there will be no adjustment in respect of this RSU Award if the Recipient receives benefits under the Senior Executive Severance Plan as a result of a change in control. 

  
 -2- 

 Nonassignability 
 Unless otherwise prescribed by the Committee, no assignment or transfer of any right or interest of a Recipient in any RSU, whether voluntary or involuntary, by operation of law or otherwise, shall be permitted
except by will or the laws of descent and distribution. Any attempt to assign such rights or interest shall be void and without force or effect. 

Notices 
 Every notice or other communication relating to
the LTIP, this Award or this Schedule of Terms shall be delivered electronically or mailed to or delivered to the party for whom it is intended at such address as may from time to time be designated by such party. Notices by the Recipient to the
Corporation shall be mailed to or delivered to the Corporation at its office at United Technologies Building, MS504, Hartford, CT 06101, Attention: Stock Plan Administrator, or emailed to stockoptionplans@utc.com. All notices by the
Corporation to the Recipient shall be transmitted to the Recipient’s email address or mailed to his or her address as shown on the records of the Corporation. 
 Administration 
 Awards granted pursuant to the LTIP shall be interpreted and administered by the Committee.
The Committee shall establish such procedures as it deems necessary and appropriate to administer Awards in a manner that is consistent with the terms of the LTIP. The Committee’s decision on any matter related to an Award shall be binding and
conclusive. 
 Awards Not to Affect or Be Affected by Certain Transactions 
 RSU Awards shall not in any way affect the right or power of the Corporation or its shareowners to effect: (a) any or all adjustments, recapitalizations, reorganizations or other changes in the
Corporation’s capital structure or its business; (b) any merger or consolidation of the Corporation; (c) any issue of bonds, debentures, shares of stock preferred to, or otherwise affecting the Common Stock of the Corporation or the
rights of the holders of such Common Stock; (d) the dissolution or liquidation of the Corporation; (e) any sale or transfer of all or any part of its assets or business; or (f) any other corporate act or proceeding. 

Taxes/Withholding 
 Recipients are responsible for any
income or other tax liability attributable to an Award. 
 The value of the Award as of the Recipient’s 62nd birthday (or following three years of ELG service, if later) will be subject to FICA
withholding in that same calendar year. The closing price of Common Stock on the New York Stock Exchange on the date of the Recipient’s 62nd birthday (or on the date when the Recipient completes three years of ELG service, if later) will be used to calculate the value
of the Award. 
 The closing price of Common Stock on the New York Stock Exchange on the Distribution Date will be used to calculate income realized from
the vesting of RSUs. The Corporation shall take such steps as are appropriate to assure compliance with applicable federal, state and local tax withholding requirements. The Corporation shall, to the extent required by law, have the right to deduct
directly from any payment or delivery of shares due to a Recipient or from a Recipient’s regular compensation, all federal, state and local taxes of any kind required by law to be withheld with respect to the vesting of an RSU. Acceptance of an
Award constitutes consent by the recipient to such withholding. Recipients not based in the United States and foreign nationals who are not permanent residents of the United States must pay the appropriate taxes as required by any country where they
are subject to tax. A discussion of U.S. Federal tax treatment of RSUs may be found in the LTIP prospectus. 
 Right of Discharge Reserved

 Nothing in the LTIP or in any RSU Award shall confer upon any Recipient the right to continue in the employment or service of the Corporation or
any affiliate thereof for any period of time, or affect any right that the Corporation or any subsidiary or division may have to terminate the employment or service of such Recipient at any time for any reason. 

  
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 Forfeiture of Interests and Gains 
 RSUs shall be forfeited if a Recipient is terminated for “cause”. Termination for cause means termination related to a violation of the ELG covenants, criminal conduct involving a felony in the U.S. or
the equivalent of a felony under the laws of other countries, material violations of civil law related to the Recipient’s job responsibilities, fraud, dishonesty, self-dealing, breach of the Recipient’s intellectual property agreement or
willful misconduct that the Committee determines to be injurious to the Corporation. A Recipient will be obligated to repay the value realized from the conversion of RSUs into shares of unrestricted Common Stock if the Recipient violates any of the
ELG covenants, or, if following termination, the Corporation determines that the Recipient engaged in conduct that would have constituted the basis for termination for cause. The foregoing provisions shall be applicable through the Distribution Date
to Recipients who remain employed after age 62. 
 Nature of Payments 
 All Awards made pursuant to the LTIP are in consideration of services performed for the Corporation or the business unit employing the Recipient. Any gains realized pursuant to such Awards constitute a special
incentive payment to the Recipient and shall not be taken into account as compensation for purposes of any of the employee benefit plans of the Corporation or any business unit. RSUs will not be funded by the Corporation. In this regard, a
Recipient’s rights to RSUs are those of a general unsecured creditor of the Corporation. 
 Data Privacy 

The Corporation maintains electronic records for the purpose of administering the LTIP and individual Awards. In the normal course of plan administration,
electronic data may be transferred to different sites within the Corporation and to outside service providers. Acceptance of an Award constitutes consent by the recipient to the transmission and holding of personal data required for the
administration and management of the Award and the LTIP to the Corporation or its third party administrators within or outside the country in which the recipient resides or works. All such transmission and holding of data shall comply with
applicable privacy protection requirements. 
 Government Contract Compliance 
 The “UTC Policy Statement on Business Ethics and Conduct in Contracting with the United States Government” calls for compliance with the letter and spirit of government contracting laws and regulations.
In the event of a violation of government contracting laws or regulations, the Committee reserves the right to revoke any outstanding Award. 

Interpretations 
 This Schedule of Terms and each Statement
of Award are subject in all respects to the terms of the LTIP. In the event that any provision of this Schedule of Terms or any Statement of Award is inconsistent with the terms of the LTIP, the terms of the LTIP shall govern. Any question of
administration or interpretation arising under the Schedule of Terms or any Statement of Award shall be determined by the Committee or its delegate, and such determination to be final and conclusive upon all parties in interest. 

Governing Law 
 The LTIP, this Schedule of Terms and the
Statement of Award shall be governed by and construed in accordance with the laws of the State of Delaware. 
 Additional Information 

Questions concerning the Plan or Awards and requests for Plan documents shall be directed to: 

Stock Plan Administrator 
 United
Technologies Corporation 
 1 Financial Plaza, MS 504 
 Hartford, CT 06101 
 stockoptionplans@utc.com 
 The Corporation and/or its approved Stock Plan Administrator will send any Award-related communications to the recipient’s email address or physical address on record. It is the responsibility of the recipient
to ensure that both the e-mail and physical address on record are up-to-date and accurate at all times to ensure delivery of Award-related communications. 

  
 -4-

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