I am pleased to confirm our offer to become Chief Executive Officer (“CEO”) of Honeywell, based in Morris Plains, New Jersey. The effective date of your promotion is March 31, 2017 (“Effective Date”), subject to the terms of this Correspondence Agreement (“Agreement”). In accordance with the terms of the Stock Incentive Plan of Honeywell International Inc. and its related companies (the “Stock Plan”) and applicable bonus agreements, non-execrable LTI Rewards are not automatically transferred in the event of a change of control (as defined in the Action Plan) if transferred or continued by the successor. In this case, unwaveringness only occurs if your employment relationship is interrupted either by the successor or by you for an important reason (defined in the action plan) within two years of the change of control. This unwavering “double trigger” also applies to other rewards. Performance prizes become unwavering at the target value; unpaid growth premiums for which the performance cycle is completed are paid within 90 days; and growth bonuses for which the performance cycle has not ended are paid within 90 days in proportion to your termination date, based on the relevant benefit, until the termination date. The technology increases the brightness of images and reduces the appearance of certain interference effects on CDs. 1. YOU AGREE TO READ THIS AGREEMENT CAREFULLY BEFORE USING THE HPS WEBSITE.
I acknowledge that the provisions of this Agreement apply in addition to any prior or existing employment or other agreements with Honeywell, and are not intended to limit, restrict or restrict them. This Agreement does not supersede or replace any prior or existing employment agreement or other agreement, but should be read in conjunction with such prior or existing agreements and construed in such a way that Honeywell offers the maximum protection afforded by any agreements I have with Honeywell.