Honeywell 2006 Annual Report Download - page 191

(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.
18. 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 Restricted Units. 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
Restricted Units 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 such rights under the Plan or your ceasing to have any rights under, or
ceasing to be entitled to any rights under, the Plan as a result of such termination.
(e) The grant of Restricted Units hereunder, and any future grant of Restricted Units under the Plan, is entirely voluntary, and
at the complete discretion of the Company. Neither the grant of the Restricted Units nor any future grant by the Company
will be deemed to create any obligation to make any future grants, whether or not such a reservation is explicitly stated at
the time of such a grant. The Company has the right, at any time and/or on an annual basis, to amend, suspend or
terminate the Plan; provided, however, that no such amendment, suspension, or termination will adversely affect your
rights hereunder.
(f) The Plan will not be deemed to constitute, and will not be construed by you to constitute, part of the terms and conditions
of employment. Neither the Company nor your local employer will incur any liability of any kind to you as a result of any
change or amendment, or any cancellation, of the Plan at any time.