Honeywell 2002 Annual Report Download - page 190

employee benefits, including, without limitation, vacation accruals,
continuation of the Participant's savings plan participation (to the extent
permissible under Section 401(a) of the Code), basic and contributory life and
medical insurance (including qualified dependents) at the active employee
coverage level and prevailing employee contribution rate, if any; provided,
however, that (a) such level of continued benefits shall not exceed the level
of benefits in effect on the date of the Participant's Involuntary
Termination, prior to any reduction thereto, (b) such continuation of life
and medical benefits will cease on the date similar benefits are provided the
Participant by a subsequent employer, and (c) the executive flex-perk
allowance will be continued during the entire severance pay period.
C) Pension Service Continuation - Participants entitled to benefits under
the Plan shall become 100% vested in their defined benefit pension plan
benefits (all defined benefit plans, whether qualified or non-qualified, in
which a Participant has accrued a benefit are collectively referred to as the
"DB Plans"). During their Pay continuation period, Participants shall continue
to be credited with additional age and service credit for purposes of benefit
accrual (up to a maximum of twelve (12) months of a Participant's Pay
continuation period), vesting and eligibility under the DB Plans in which they
participate. At the end of a Participant's Pay continuation period, Participants
shall immediately be credited with three (3) years of age and service,
respectively, for purposes of benefit accruals, vesting and eligibility under
the DB Plans; provided, however, that such three (3) years of additional age
shall be credited only if such additional age credits would (either alone or in
conjunction with a bridge leave of absence) enable a Participant to be eligible
for immediate payment of an early or normal retirement benefit under the
applicable defined benefit pension plan in which the Participant participates.
The normal policy for qualifying bridge leaves of absence, as reflected in the
applicable defined benefit pension plan in which the Participant participates,
shall remain applicable thereafter.
D) 280G Gross-Up - If any payment to a Participant made pursuant to the
terms of this Plan (including payments from any benefit or compensation plan or
program sponsored or funded by Honeywell International Inc. but excluding
payments and benefits provided upon a change in control under the AlliedSignal
Severance Plan for Senior Executives, Honeywell Inc. Tier 1A and Tier 1B
agreements, and any similar plan or arrangement under which participants have
their benefits increased because of taxes under
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