Honeywell 2011 Annual Report Download - page 119

Plan as defined in the 2011 Stock Incentive Plan) that may again be available for issuance: shares that are settled for cash, expire, are canceled, are
tendered in satisfaction of an option exercise price or tax withholding obligations, are reacquired with cash tendered in satisfaction of an option exercise
price or with monies attributable to any tax deduction enjoyed by Honeywell to the exercise of an option, and are under any outstanding awards
assumed under any equity compensation plan of an entity acquired by Honeywell. No securities are available for future issuance under the 2006 Stock
Incentive Plan, the 2003 Stock Incentive Plan, the 1993 Stock Plan, or the 1994 Non-Employee Director Plan.
The number of shares that may be issued under the Honeywell Global Stock Plan as of December 31, 2011 is 2,384,352. This plan is an umbrella plan
for four plans maintained solely for eligible employees of participating non-U.S. countries. More than 50% of the shares distributed under the
Honeywell Global Stock Plan have been distributed to participants in one sub-plan, the Global Employee Stock Purchase Plan. As of January 1, 2011,
the Global Employee Stock Purchase Plan was suspended, although company matching shares awarded to participants in 2008 vested in November
2011.
Another sub-plan of the Honeywell Global Stock Plan, the UK Sharebuilder Plan, allows an eligible UK employee to contribute a specified percentage
of taxable earnings that is then invested in shares. The company matches those shares and dividends paid are used to purchase additional shares. The
company increased the match share percentage from 50% to 62.50% effective March 1, 2011. Matched shares are subject to a three-year vesting
schedule. Shares taken out of the plan before five years lose their tax-favored status. For the year ending December 31, 2011, 105,015 shares were
credited to participants' accounts under the UK Sharebuilder Plan.
The remaining two sub-plans of the Honeywell Global Stock Plan, the Honeywell International Technologies Employees Share Ownership Plan
(Ireland) and the Honeywell Measurex (Ireland) Limited Group Employee Profit Sharing Scheme, allow eligible Irish employees to contribute specified
percentages of base pay, bonus or performance pay that are then invested in shares. Shares must be held in trust for at least two years and lose their tax-
favored status if they are taken out of the plan before three years. For the year ending December 31, 2011, 23,881 shares were credited to participants'
accounts under these two plans.
The remaining 229,000 shares included in column (c) are shares remaining for future grants under the 2006 Non-Employee Director Plan.
(4) Equity compensation plans not approved by shareowners that are included in the table are the Supplemental Non-Qualified Savings Plan for Highly
Compensated Employees of Honeywell International Inc. and its Subsidiaries, and the AlliedSignal Incentive Compensation Plan for Executive
Employees of AlliedSignal Inc. and its Subsidiaries.
The Supplemental Non-Qualified Savings Plan for Highly Compensated Employees of Honeywell International Inc. and its Subsidiaries is an unfunded,
non-tax qualified plan that provides benefits equal to the employee deferrals and company matching allocations that would have been provided under
Honeywell's U.S. tax-qualified savings plan if the Internal Revenue Code limitations on compensation and contributions did not apply. The company
matching contribution is credited to participants' accounts in the form of notional shares of Common Stock. The notional shares are distributed in the
form of actual shares of Common Stock when payments are made to participants under the plan. The number of shares to be issued under this plan
based on the value of the notional shares as of December 31, 2011 is 592,957.
The AlliedSignal Incentive Compensation Plan for Executive Employees of AlliedSignal Inc. and its Subsidiaries was a cash incentive compensation
plan maintained by AlliedSignal Inc. This plan has expired. Employees were permitted to defer receipt of a cash bonus payable under the plan and
invest the deferred bonus in notional shares of Common Stock. The notional shares are distributed in the form of actual shares of Common Stock when
payments are made to participants under the plan. No further deferrals can be made under this plan. The number of shares of Common Stock that
remain to be issued under this expired plan as of December 31, 2011 is 33,911.
The Deferred Compensation Plan for Non-Employee Directors of Honeywell International Inc. provides for mandatory and elective deferral of certain
payments to non-employee directors. Mandatory deferrals are invested in notional shares of Common Stock. Directors may also invest any elective
deferrals in notional shares of Common Stock. Because the notional shares are distributed in the form of cash when payments are made to directors
under the plan, they are not included in the table above. 116