Honeywell 2008 Annual Report Download - page 230

Exhibit 10.10
Honeywell International Inc.
Supplemental Pension Plan
(Amended and Restated Effective January 1, 2009)
Article I - Purpose
Effective November 20, 1975, Allied Corporation adopted the Allied Corporation Supplemental Retirement Plan for Executives and Key
Employees. Such plan was amended and restated effective January 1, 2000 as the Honeywell International Inc. Supplemental Pension Plan
(the "Plan"). Such plan is further amended and restated effective January 1, 2009 to comply with Section 409A of the Code.
The purpose of the Plan is to provide participants and their joint annuitants and beneficiaries under the Pension Plan with the amount of
retirement income that is not provided under the Pension Plan because the participant deferred compensation under one or more nonqualified
deferred compensation plans of Honeywell International Inc., including the Incentive Plan and the Supplemental Savings Plans or, by reason of
the limits imposed by Section 415 and 401(a)(17) of the Code. The Plan is also intended to cover any contractual obligation Honeywell has to
pay pension benefits that cannot be provided under the provisions of the Pension Plan.
The Plan as amended and restated effective January 1, 2009 applies to a participant who (i) has any portion of a Supplemental Benefit that
accrues on or after January 1, 2005, (ii) has any portion of a Supplemental Benefit that accrued prior to January 1, 2005 but was vested on or
after December 31, 2004, or (iii) has an increase in the value of any subsidy with respect to Grandfathered Benefits payable upon retirement
before the Pension Plan’s normal retirement date that accrues or increases as a result of service after December 31, 2004. The Plan preceding
this amendment and restatement applies to a participant not described in clause (iii) of the preceding sentence whose entire Supplemental
Benefit accrued and vested before January 1, 2005 (“Grandfathered Benefit”).
Except to the extent otherwise indicated, and to the extent otherwise inappropriate, the Pension Plan and the provisions thereof are hereby
incorporated by reference.
Article II - Definitions
2.1 Accrued Pension Benefit - means the amount of retirement income payable under the Pension Plan to or with respect to a participant at the
date required by this Plan.
2.2 Actuarial Equivalent or Actuarially Equivalent – means, except as otherwise provided in the Plan, a benefit having the same actuarial value
as the benefit it replaces, determined using the same assumptions and methods as are used for determining actuarial equivalency benefit
under the Pension Plan.