Honeywell 2006 Annual Report Download - page 183

US
of any previous grant of options or awards, which was made for the same purposes of managing and administering of
previous award/incentive plans, or for other purposes.
(d) You further understand that your local employer will transfer Data to the Company or its Affiliates among themselves as
necessary for the purposes of implementation, administration, and management of the your participation in the Plan, and
that the Company or its Affiliates may transfer data among themselves, and/or each, in turn, further transfer Data to any
third parties assisting the Company in the implementation, administration, and management of the Plan ("Data
Recipients").
(e) You understand that the Company or its Affiliates, as well as the Data Recipients, are or may be located in your country
of residence or elsewhere, such as the United States. You authorize the Company or its Affiliates, as well as the Data
Recipients, to receive, possess, use, retain, and transfer Data in electronic or other form, for the purposes of implementing,
administering, and managing your participation in the Plan, including any transfer of such Data, as may be required for
the administration of the Plan and/or the subsequent holding of Shares on your behalf, to a broker or third party with
whom the Shares may be deposited.
(f) You understand that you may show your opposition to the processing and transfer of your Data, and, may at any time,
review the Data, request that any necessary amendments be made to it, or withdraw your consent herein in writing by
contacting the Company. You further understand that withdrawing consent may affect your ability to participate in the
Plan.
17. Discretionary Nature and Acceptance of Award. By accepting this Award, you agree to be bound by the terms of this
Agreement and acknowledge that:
(a) The Company (and not your local employer) is granting your Option. Furthermore, this Agreement is not derived from
any preexisting labor relationship between you and the Company, but rather from a mercantile relationship.
(b) The Company may administer the Plan from outside your country of residence and United States law will govern all
options granted under the Plan.
(c) Benefits and rights provided under the Plan are wholly discretionary and, although provided by the Company, do not
constitute regular or periodic payments.
(d) The benefits and rights provided under the Plan are not to be considered part of your salary or compensation under your
employment with your local employer for purposes of calculating any severance, resignation, redundancy or other end of
service payments, vacation, bonuses, long-term service awards, indemnification, pension or retirement benefits, or any
other payments, benefits or rights of any kind. You waive any and all rights to compensation or damages as a result of the
termination of employment with your local employer for any reason whatsoever insofar as those rights result, or may
result, from the loss or diminution in value of
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