Honeywell 2003 Annual Report Download - page 313

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In addition, because your eligibility to participate in the Company's retiree
medical programs is dependent, among other factors, on the pension plan in which
you participate, information regarding your rights to retiree medical coverage
can be provided by contacting the Retirement Pension Planning Department at
877-258-3699, option 5.
Unemployment Insurance
You may be eligible for unemployment benefits. You should contact your local
unemployment office.
Short-Term Incentive Compensation Plan
For the portion of the current calendar year ending on your Last Day of Active
Employment, you will not be considered for a short-term incentive bonus.
Under the AlliedSignal Inc. Incentive Compensation Plan for Executive Employees
("ICP Plan"), you are not entitled to receive a short-term incentive bonus for
the 2003 calendar year unless you are actively employed by the Company on the
date short-term incentive bonuses are paid. Nevertheless, the Company may, in
its sole discretion, consider you for a short-term incentive bonus based upon
your performance and contributions as an active employee during the preceding
calendar year, as well as the Company's performance for such year. The Company
reserves sole discretion regarding the amount and payment, if any, of any bonus
attributable to the 2003 calendar year. If the Company elects to award you a
bonus with respect to the 2003 calendar year, it will be paid in accordance with
the provisions of the ICP Plan, anticipated to be during the first quarter of
the current calendar year. Any such bonus shall not include any period for which
you have already received or will receive a short-term incentive compensation
award.
Stock Options
You currently have 460,000 vested stock options. Subject to the Additional
Consideration paragraph of the Agreement and Release, all of your other stock
options will be forfeited. You may exercise your stock options in accordance
with the following schedule:
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Grant Date Vested Options Grant Price Expiration Date
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12/03/1999 150,000 $63.00 01/08/2007
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07/16/2001 250,000 $36.27 01/08/2007
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02/07/2003 60,000 $23.93 01/08/2007
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460,000
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Grant Date Unvested Options Vesting Date Expiration Date
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02/07/2003 45,000 01/01/2005 01/08/2007
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