Honeywell 2003 Annual Report Download - page 53

any significant increase in premiums to be paid by the
Participant for such benefits.
(vii) Any significant reduction in the life insurance benefits
available to the Participant, including any change affecting the
Company's Executive Life Insurance Program or comparable program
of any other Honeywell Employer, or any significant increase in
premiums to be paid by the Participant for such benefits.
(viii) Any geographic relocation of the Participant's position to a new
location which is more than fifty (50) miles from the location of
the Participant's position immediately prior to a Change in
Control.
(ix) Any action by an Honeywell Employer that under applicable law
constitutes constructive discharge.
(x) Any failure to pay the benefit determined under Section 20(b)
within the time required under Sections 21(a) or 21(b).
(xi) The failure of any Honeywell Employer that is a successor to the
Company or any of its affiliates (whether direct or indirect, by
purchase, merger, consolidation or otherwise) to expressly assume
and agree to honor this Plan, if such assumption is legally
required to make this Plan enforceable against the successor.
For purposes of this Section 19, the term "significant reduction" shall
mean a reduction or series of reductions with respect to the same form
of benefit or remuneration which are greater than 10% or which do not
affect all persons covered by the plan or program in question. For
purposes of this Section 19, the term "significant increase" shall mean
an increase or a series of increases in the Participant's percentage of
total premiums for a benefit which are greater than 10% or which do not
affect all persons covered by the plan or program in question.
(f) "Gross Cause" means, notwithstanding the provisions of Section 1(p),
any act or acts constituting a felony committed against an Honeywell
Employer, its property or business.
(g) "New Plan Administrator" shall mean such person or persons appointed
pursuant to Section 22 to administer the Plan upon the occurrence of a
Change in Control.
20. Enhancement Benefit.
(a) If, following a Change in Control, any payment to a Participant from an
Honeywell Employer or from any benefit or compensation plan or program
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