Honeywell 2008 Annual Report Download - page 255

(a) the amount that would be payable under the formula and rules of the Base Plan (as the Base Plan exists on the date as of which
such amount is determined) if determined:
(i) without regard to the benefit limitation under section 415 of the of the Code, and
(ii) without regard to the compensation limitation under section 401(a)(17) of the Code, and
(iii) without regard to the exclusion from the definition of Earnings under the Base Plan of deferred incentive payments under
Honeywell Corporate Executive Compensation Plan, the AlliedSignal Inc. Incentive Compensation Plan For Executive Employees, or
the Salary and Incentive Award Deferral Plan for Selected Employees of Honeywell International Inc. and its Affiliates (or any
successor plans) or employee deferrals under the Supplemental Savings Plan, over
(b) the amount actually paid or payable from the Base Plan.
3.1.2 Minimum Benefit. A Participant who only satisfies the participation requirements of Section 2.1.2 shall receive a benefit in
this Plan commencing as of the payment date required under Section 4 below which shall be the excess, if any, of:
(a) the amount that would be payable under the formula and rules of the Base Plan (as the Base Plan exists on the date as of which
such amount is determined, including, without limitation, the provisions excluding from earnings any deferred incentive awards paid
under the Honeywell Corporate Executive Compensation Plan, the AlliedSignal Inc. Incentive Compensation Plan for Executive
Employees, the Salary and Incentive Award Deferral Plan for Selected Employees of Honeywell International Inc. and its Affiliates
(or any successor plans), and the application of the benefit limitation under section 415 of the Code and the compensation limitation of
section 401(a)(17) of the Code) if determined without regard to the exclusion from the definition of Earnings under the Base Plan of
any deferrals by the Participant under the Supplemental Savings Plan, over
(b) the amount actually paid or payable from the Base Plan.
3.1.3 Limitation on Benefits. A Participant's benefit in this Plan may be limited in the manner and to the extent to which the
Participant has agreed in writing. A Participant satisfying the eligibility requirements of the Honeywell International Inc.
Supplemental Pension Plan or the Honeywell International Inc. Supplemental Executive Retirement Plan for Executives in Career
Band 6 and Above shall not be eligible for any benefits under this Plan.
3.2. Survivor Benefit