Amendment to the 2011 Stock Incentive Plan of Honeywell International Inc. and Its Affiliates
This amendment updates the vesting terms for certain stock-based awards under Honeywell International Inc.'s 2011 Stock Incentive Plan. It specifies that, unless otherwise stated, restrictions on these awards will generally lapse over three years or a longer period set in the award agreement. If a participant leaves the company before restrictions lapse, the awards are forfeited unless the departure is due to full retirement, death, disability, or a change in control. The amendment clarifies how and when participants can retain or lose their stock-based awards.
Exhibit 10.36
AMENDMENT
TO THE
2011 STOCK INCENTIVE PLAN OF
HONEYWELL INTERNATIONAL INC.
AND ITS AFFILIATES
The 2011 Stock Incentive Plan of Honeywell International Inc. and Its Affiliates (the “Plan”) is hereby amended by replacing Section 4.6(a) in its entirety with the following Section 4.6(a):
“(a) Vesting. Except for Other Stock-Based Awards granted as Performance Awards and except as provided in Section 5.1 or 5.3, restrictions on Other Stock-Based Awards will lapse, in the discretion of the Committee, over a period of three years from the date of grant or any longer period that is specified in the Award Agreement. If the restrictions on Other Stock-Based Awards have not lapsed or been satisfied as of the Participant’s Termination of Employment, except as otherwise provided in an Award Agreement, the Shares will be forfeited by the Participant if the termination is for any reason other than Full Retirement, death or Disability of the Participant or a Change in Control occurs.”
