Honeywell 2008 Annual Report Download - page 292

3. The following rules shall be used to pay supplemental retirement benefits that are subject to this Amendment:
(a) A participant who was provided a payment election for his supplemental retirement benefit prior to January 1, 2009 and who
elected an annuity as his payment form shall, prior to his benefit commencement date, be entitled to elect from among the Actuarially
Equivalent annuity forms of payment available to the participant under the Pension Plan other than annuity forms with a level income
option. Such payments will 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
supplemental retirement benefit shall be paid in a single life annuity if he is unmarried on his benefit commencement date or in a joint
and 50% 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.
(b) A participant who was provided a payment election for his supplemental retirement benefit prior to January 1, 2009 and who
elected a single lump sum payment shall receive the Actuarial Equivalent value of his supplemental retirement benefit 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.
(c) A participant who is entitled to disability pension benefits under the qualified plan that qualify as "ancillary benefits" shall
continue to receive such benefits as required by the qualified plan as long as the participant satisfies the conditions applicable to such
benefits. The Actuarial Equivalent value of such participant's supplemental retirement 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 (a) or (b) as applicable.
(d) A participant who is entitled to a supplemental retirement benefit and whose Separation from Service Date and Earliest
Retirement Date both occurred before July 1, 2009 shall receive his supplemental retirement benefit as of July 1, 2009, with the form
of payment determined in accordance with clause (a) or (b) as applicable.