Honeywell 2008 Annual Report Download - page 297

which the determination is being made or, if no sale of Shares is reported on this date, on the most recent preceding day on which there were
sales of Shares reported.
2.20 “Full Retirement” means the Termination of Employment on or after attainment of age 60 with 10 years of service, other than on
account of an involuntary Termination of Employment, as determined by the Committee, in its discretion. For purposes of this Section 2.20,
“years of service” is determined using the Participant's most-recent adjusted service date, as reflected at the Participant's Termination of
Employment in the Company's records.
2.21 “GAAP” means U.S. generally accepted accounting principles.
2.22 “Growth Plan Unit” means a Performance Award denominated in Units.
2.23 “Incentive Stock Option” means a Stock Option granted under Section 4.3 of the Plan that meets the requirements of Section 422 of
the Code and any related regulations and is designated by the Committee in the Award Agreement to be an Incentive Stock Option.
2.24 “Key Employee” means an Employee who, at any time at which reference to this definition would be relevant under Section 162(m) of
the Code, may be a “covered employee” within the meaning of Section 162(m)(3) of the Code.
2.25 “Non-Employee Director” means any member of the Board, elected or appointed, who is not an Employee of the Company or an
Affiliate. An individual who is elected to the Board at an annual meeting of the shareowners of the Company will be deemed to be a member of
the Board as of the date of the meeting.
2.26 “Nonqualified Stock Option” means any Stock Option granted under Section 4.3 of the Plan that is not an Incentive Stock Option.
2.27 “Participant” means an Employee who has been granted an Award under the Plan.
2.28 “Performance Award” means an Award granted under Section 4.4 of the Plan the payment of which is conditioned on the attainment
of one or more Performance Measures.
2.29 “Performance Cycle” means, with respect to any Award that vests or is earned based on Performance Measures, a period of at least
one year, unless