Honeywell 2006 Annual Report Download - page 154
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8. Miscellaneous Provisions.
a. This Agreement shall not be deemed to constitute a contract of employment between Executive and Honeywell, nor shall
any provision restrict the right of Honeywell to discharge Executive or restrict Executive's right to terminate employment.
b. The masculine pronoun includes the feminine, and the singular includes the plural where appropriate.
c. Executive and Co-insured shall be responsible for keeping the Policy in force and remitting Premiums when required by the
Insurer in a timely manner. Honeywell shall have no responsibility other than to pay Executive or Co-insured, as the case
may be, the Annual Payment until this Agreement terminates.
d. The parties intend for this Agreement to comply with the requirements of Internal Revenue Code section 409A, as amended
from time to time, and the related regulations, and the provisions hereof shall be interpreted in a manner that satisfies the
requirements of such Section and the related regulations, and the Agreement shall be operated accordingly. If any provision
of this Agreement would otherwise frustrate or conflict with this intent, the provision, term or condition shall be interpreted
and deemed amended so as to avoid this conflict.
9. Amendment, Termination, Administration, and Successors.
a. Amendment. This Agreement may be modified or amended by the Board of Directors of Honeywell at any time, but an
amendment that affects the rights, benefits or obligations of Executive after Honeywell's obligation to pay the Annual
Payment becomes irrevocable under Section 5(b) shall not apply unless Executive (or Co-insured following Executive's
death) consents, in writing, to the amendment.