Honeywell 2003 Annual Report Download - page 311

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EXHIBIT A
SUMMARY
OF
EMPLOYEE BENEFITS
All capitalized terms in this description have the meaning set forth in the main
body of the Agreement and Release, unless otherwise noted herein.
This employee benefits description is applicable only with respect to eligible
employees receiving periodic severance payments under the Senior Severance Plan,
is for information purposes only and is not intended to constitute additional
consideration for the execution of the Agreement and Release. Moreover, this
description is not intended to supplant the applicable plan documents and
summary plan descriptions. If you have specific questions regarding any employee
benefit plan, please consult the applicable plan document and summary plan
description. In the event of any conflict between this description and the
actual employee benefit plan document, the employee benefit plan document shall
control. The Company reserves the right, in its sole discretion, to amend,
modify or terminate its employee benefit plans at any time and for any reason.
Group Insurance Coverage
As long as the underlying plan so allows, you may elect to retain your coverage
in the Company's group health insurance plans for active employees through the
end of the month in which your Benefit Period ends, except as otherwise provided
below. The employee share of any premiums shall automatically be deducted from
your Severance Pay unless you notify the Company, in writing, that you wish to
cancel your insurance coverage.
Notwithstanding any provision herein to the contrary, eligibility for short-term
disability coverage, long-term disability coverage and any business travel
insurance that you may have will terminate as of your Last Day of Active
Employment.
Your basic Company-sponsored life insurance coverage and accidental death and
dismemberment coverage will end on the date your Salary Continuation Period
ends. You may convert your basic Company-sponsored life insurance coverage and
accidental death and dismemberment coverage to individual coverage by contacting
Honeywell's HR Service Center at 1-877-258-3699, Option 4, to request the
required conversion forms. You must apply for conversion of coverage on the
approved forms within 31 days after your Salary Continuation Period ends.
You may elect to retain any Group Universal Life Insurance (GUL) coverage you
have through your Benefit Period. If you wish to continue your GUL insurance
beyond the Benefit Period on a direct pay basis, you can contact CIGNA at
800-243-3264.