Honeywell 2008 Annual Report Download - page 257

(b) A Participant who was provided a payment election for his benefit prior to January 1, 2009 other than a Participant
described in clause (c) and who elected an annuity as his payment form shall, prior to his benefit commencement date, be entitled to
elect from among a 100% Joint and Survivor Annuity, a 50% Joint and Survivor Annuity, a Single Life Annuity, and a 10 Year Period
Certain and Life Annuity, with such payments to begin as of the first day of the month following 105 days after the later of the
Participant’s Separation from Service Date or Earliest Retirement Date. If a Participant fails to elect an annuity payment form by the
required date, his benefit shall be paid in a single life annuity if he is unmarried on his benefit commencement date or in a joint and
100% survivor annuity, with his opposite sex spouse on his benefit commencement date as his contingent annuitant, if he is married
on his benefit commencement date.
(c) A Participant who is listed on Schedule A of the Plan shall have his benefits paid or begin to be paid as of the date indicated
on Schedule A in the payment form elected by such Participant; provided that a Participant who elected an annuity as his payment
form shall, prior to his benefit commencement date, be entitled to elect from among a 100% Joint and Survivor Annuity, a 50% Joint
and Survivor Annuity, a Single Life Annuity, and a 10 Year Period Certain and Life Annuity. If a Participant fails to elect an annuity
payment form, his benefit shall be paid in a single life annuity if he is unmarried on his benefit commencement date or in a joint and
100% survivor annuity, with his opposite sex spouse on his benefit commencement date as his contingent annuitant, if he is married
on his benefit commencement date.
(d) A Participant who is entitled to disability pension benefits under the Base Plan that qualify as "ancillary benefits" shall
continue to receive such benefits as required by the Base Plan as long as the Participant satisfies the conditions applicable to such
benefits. The Actuarial Equivalent value of such Participant's benefit at retirement shall be paid as of the first day of the month
following 105 days after the latest date the ancillary disability pension benefits could be paid, whether or not the ancillary disability
pension benefits continue to be paid to such date. The form of payment shall be determined in accordance with clause (1) or (2) as
applicable.
(e) A Participant who is entitled to a benefit and whose Separation from Service Date and Earliest Retirement Date (other than
a Participant described in clause (3)) both occurred before July 1, 2009 shall receive his benefit as of July 1, 2009, with the form of
payment determined in accordance with clause (1) or (2) as applicable.
(f) A Participant’s benefit shall include an estimate of any service or compensation (such as during a severance period or bridge
leave of absence) following the Participant’s benefit commencement date that is required to be taken into account in