Honeywell 2002 Annual Report Download - page 49

(d) Termination and Amendment. The Corporation may at any time amend or
terminate the Plan. No amendment or termination shall impair the rights of a
Participant with respect to amounts then credited to the Participant's Account.
(e) Benefit Statements. Each Participant will receive periodic statements
(not less frequently than annually) regarding the Participant's Account. Each
such statement shall indicate the amount of the balances credited to the
Participant's Account as of the end of the period covered by such statement.
(f) Legal Interpretation. This Plan and its provisions shall be construed
in accordance with the laws of the State of Delaware to the extent such Delaware
law is not inconsistent with the provisions of ERISA. The text of this Plan
shall, to the extent permitted by law, govern the determination of the rights
and obligations created or referred to herein. Headings to the Sections,
paragraphs and subparagraphs are for reference purposes only and do not limit or
extend the meaning of any of the Plan's provisions.
(g) Employment. The adoption and maintenance of this Plan shall not be
deemed to constitute a contract between the Corporation or its subsidiaries and
any employee or to be a consideration for or condition of employment of any
person. No provision of the Plan shall be deemed to give any employee the right
to continue in the employ of the Corporation or its subsidiaries or to interfere
with the right of the Corporation or its subsidiaries to discharge any employee
at any time without regard to the effect which such discharge might have upon
the employee's participation in the Plan or benefits under it.
(h) Fiduciary Capacities. Any person or group of persons may serve in more
than one fiduciary capacity with respect to the Plan. For purposes of this
Section 12(h), the term "fiduciary" shall have the same meaning as in ERISA.
(i) Participants Subject to Section 16. Notwithstanding anything herein to
the contrary, if any request, election or other action under the Plan affecting
a Participant subject to Section 16 of the Securities Exchange Act of 1934
should require the approval of the Committee to exempt such request, election or
other action from potential liability under Section 16, then the approval of the
Committee shall be obtained in lieu of the approval of the Plan Administrator.
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