Honeywell 2003 Annual Report Download - page 46

7. Administration.
(a) Plan Administration. Except as provided in Section 22(a), the Plan
shall be administered by the Plan Administrator, who may act through
one or more Named Fiduciaries under this Plan who shall have the powers
and authorities as described in this Section 7. The Plan Administrator
shall be the Senior Vice President, Human Resources and Communications,
or such other person as the Board may appoint. The Plan Administrator
shall have the authority to appoint and remove any other Named
Fiduciary at his or her discretion.
Any person acting on behalf of the Named Fiduciary shall serve without
additional compensation. The Named Fiduciary shall keep or cause to be
kept such records and shall prepare or cause to be prepared such
returns or reports as may be required by law or necessary for the
proper administration of the Plan.
(b) Powers and Duties of Named Fiduciary. The Named Fiduciary shall have
the full discretionary power and authority to construe and interpret
the Plan (including, without limitation, supplying omissions from,
correcting deficiencies in, or resolving inconsistencies or ambiguities
in, the language of the Plan); to determine all questions of fact
arising under the Plan, including questions as to eligibility for and
the amount of benefits; to establish such rules and regulations
(consistent with the terms of the Plan) as it deems necessary or
appropriate for administration of the Plan; to delegate
responsibilities to others to assist it in administering the Plan; and
to perform all other acts it believes reasonable and proper in
connection with the administration of the Plan. The Named Fiduciary
shall be entitled to rely on the records of the Employer in determining
any Participant's entitlement to and the amount of benefits payable
under the Plan. Any determination of the Named Fiduciary, including
interpretations of the Plan and determinations of questions of fact,
shall be final and binding on all parties.
The Named Fiduciary may retain attorneys, consultants, accountants or
other persons (who may be employees of the Employer) to render advice
and assistance and may delegate any of the authorities conferred on
him under this Plan to such persons as he shall determine to be
necessary to effect the discharge of his duties hereunder. The Plan
Administrator, or other Named Fiduciary, the Employer, the Company and
its officers and directors shall be entitled to rely upon the advice,
opinions and determinations of any such persons. Any exercise of the
authorities set forth in this Section 7, whether by the Plan
Administrator, or other Named Fiduciary or his delegee, shall be final
and binding upon the Employer and all Participants.
(c) Plan Year. The plan year shall be the calendar year.
(d) Indemnification. To the extent permitted by law, the Employer shall
indemnify any Named Fiduciary from all claims for liability, loss, or
damage (including
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