Honeywell 2008 Annual Report Download - page 247

in accordance with the terms of the applicable Pension Plans and Supplemental Pension Plans in effect on the day immediately
preceding such amendment or termination) or that would adversely affect the benefit that is being paid to any person at the time of
such amendment or termination. The prohibitions of this Section 6.3 shall apply notwithstanding any legal right or ability of the
Company to amend or terminate this Plan.
ARTICLE VII
MISCELLANEOUS PROVISIONS
7.1 No Assignment of Benefit. No benefit under the Plan, nor any other interest hereunder of any Participant or Beneficiary shall be
assignable, transferable or subject to sale, mortgage, pledge, hypothecation, commutation, anticipation, garnishment, attachment,
execution, or levy of any kind, and the Plan Administrator shall not recognize any attempt to assign, transfer, sell, mortgage, pledge,
hypothecate, commute or anticipate the same, except to the extent required by law and except that no amount shall be payable
hereunder until and unless any and all amounts representing debts or other obligations owed to the Company by the Participant with
respect to whom such amount would otherwise be payable shall have been fully paid and satisfied.
7.2 No Implied Rights to Employment. The adoption and maintenance of this Plan shall not be deemed to constitute a contract
between the Company and any employee or to be a consideration for or condition of employment of any person. No provision of the
Plan shall be deemed to give any employee the right to continue in the employ of the Company or to interfere with the right of the
Company to discharge any employee at any time without regard to the effect which such discharge might have upon the employee's
participation in the Plan or benefits under it.
7.3 Unsecured General Creditor. Benefits payable under this Plan shall be general, unsecured obligations of the Company. The
Company shall not be required to set aside funds for the payment of its obligations hereunder. However, the Company may, in its sole
discretion, establish funds for the payment of its obligations hereunder. In such case, however, no Participant or Beneficiary shall have
any title to or beneficial ownership in any assets which the Company may earmark to pay benefits hereunder. Any such funds shall
remain assets of the Company and subject to the claims of its general creditors. The Plan is intended to be unfunded for tax purposes
and for purposes of Title I of ERISA.
7.4 Employment with More than One Company. If any Participant shall be entitled to benefits under a Pension Plan on account of
service with more than one business of the Company, the obligations under this Plan shall be apportioned among such Company
businesses on the basis of service with each.
7.5 Effect of Adverse Determination. Notwithstanding any provision set forth herein, if the Internal Revenue Service determines, for
any reason, that all or any portion of the amounts credited under this Plan is currently includible in the taxable income of any
Participant, then the amounts so determined to be includible in income shall be distributed in a lump sum to such Participant as soon
as practicable.