Honeywell 2006 Annual Report Download - page 179
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Exhibit 10.27
US
EID Number: _________
2006 Stock Incentive Plan
of Honeywell International Inc. and its Affiliates
OPTION AWARD AGREEMENT
AWARD AGREEMENT made in Morris Township, New Jersey, as of the [DAY]day of [MONTH, YEAR] between Honeywell
International Inc. (the "Company") and [EMPLOYEE NAME] (the "Employee").
1. Grant of Option. The Company has granted you an Option to purchase [NUMBER] Shares of Common Stock, subject to the
provisions of this Agreement and the 2006 Stock Incentive Plan for Employees of Honeywell International Inc. and its Affiliates
(the "Plan"). This Option is a nonqualified Option.
2. Exercise Price. The purchase price of the Shares covered by the Option will be [DOLLAR AMOUNT] per Share.
3. Vesting. Except in the event of your death or Disability or a Change in Control, the Option will become exercisable in
cumulative installments as follows: [VESTING PROVISIONS CONSISTENT WITH THE PLAN].
4. Term of Option. The Option must be exercised prior to the close of the New York Stock Exchange ("NYSE") on
[EXPIRATION DATE], subject to earlier termination or cancellation as provided below. If the NYSE is not open for business on
the expiration date specified, the Option will expire at the close of the NYSE on the business day immediately preceding
[EXPIRATION DATE].
5. Payment of Exercise Price. You may pay the Exercise Price by cash, certified check, bank draft, wire transfer, postal or express
money order, or any other alternative method specified in the Plan and expressly approved by the Committee. Notwithstanding
the foregoing, you may not tender any form of payment that the Committee determines, in its sole and absolute discretion, could
violate any law or regulation.
6. Exercise of Option. Subject to the terms and conditions of this Agreement, the Option may be exercised by contacting the
Honeywell Stock Option Service Center, managed by Smith Barney, by telephone at 1-888-723-3391 or 1-212-615-7876, or on
the internet at www.benefitaccess.com. If the Option is exercised after your death, the Company will deliver Shares only after the
Committee has determined that the person exercising the Option is the duly appointed executor or administrator of your estate or
the person to whom the Option has been transferred by your will or by the applicable laws of descent and distribution.