Honeywell 2008 Annual Report Download - page 232

2.13 Specified Employee – means any participant who, at any time during the twelve (12) month period ending on the identification date (as
determined by the Vice President, Compensation and Benefits or his delegate), is a specified employee under Section 409A of the Code, as
determined by the Vice President, Compensation and Benefits or his delegate, which determination of “specified employees” and identification
date shall be made by the Vice President, Compensation and Benefits or his delegate in accordance with the provisions of Sections 416(i) and
409A of the Code and the regulations issued thereunder.
2.14 Supplemental Benefit - means the excess, if any, of (i) the retirement income payable to or with respect to a participant under the Pension
Plan that would have been accrued by the participant (1) had the amount of deferred compensation awards under the Incentive Plan been
compensation included for calculating benefits under the Pension Plan in the year the award would otherwise have been earned or payable as
recognized by the Pension Plan, (2) had participant deferred contributions, as that term is defined in the Supplemental Savings Plan, been
compensation included for calculating benefits under the Pension Plan in the year the compensation would otherwise have been earned or
payable as recognized by the Pension Plan, (3) had the portion of base annual salary and incentive awards deferred by a participant under the
terms of the Deferral Plan, been compensation included for calculating benefits under the Pension Plan in the year the compensation would
otherwise have been earned or payable as recognized by the Pension Plan, (4) had the limits of Code Section 415 and 401(a)(17) not been
incorporated in the Pension Plan, and (5) had the participant met all the requirements for a benefit from the Pension Plan with respect to all
other pension benefits which Honeywell has become contractually obligated to pay to the participant, over (ii) the participant's Accrued Pension
Benefit. A participant’s Supplemental Benefit shall include an estimate of any compensation or service that is required to be taken into account
under the Pension Plan after the participant receives payment of his Supplemental Benefit.
2.15 Supplemental Savings Plans - means the Supplemental Non-Qualified Savings Plans for Highly Compensated Employees of Honeywell
International Inc. and its Subsidiaries, as the same may be amended from time to time.
Article III - Participation
Participation in the Plan shall be limited to:
(a) those participants in the Pension Plan (and their joint annuitants and beneficiaries) who as a result of having deferred an award under
the Incentive Plan or having deferred compensation under the Supplemental Savings Plan or the Deferral Plan, receive or shall receive a lesser
amount under the Pension Plan than would otherwise be paid or payable in the absence of such deferral;
(b) those participants in the Pension Plan (and their joint annuitants and beneficiaries) who as a result of the limitations contained in Code
Sections 415 or 401(a)(17) receive or will receive a lesser amount under the Pension Plan than would otherwise be paid or payable in the
absence of such limitations; and
(c) any employee who has entered into a contractual agreement with Honeywell under which Honeywell shall, after the termination of
employment of the