Honeywell 2004 Annual Report Download - page 265

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This Agreement and the underlying Stock Plan represent the entire agreement
between the Company and you regarding your Growth Plan Units. This Agreement and
the Stock Plan should be reading conjunction so that they are not in conflict.
Nevertheless, in the event this Agreement and the Stock Plan cannot be
harmonized with each other, the terms of the Stock Plan shall control. You
should consult the Stock Plan for additional information with respect to your
rights, responsibilities and entitlements.
The Company reserves the right to amend, modify or terminate the Stock Plan at
its sole and absolute discretion, subject to shareowner approval if required.
This Agreement does not guarantee your eligibility for any Stock Plan benefit
now or in the future. Please keep in mind that neither the Stock Plan nor this
Agreement, or any amendments thereto, constitute a contract of employment with
the Company or otherwise give you the right to be retained in the employment of
the Company.
5