Amendment to Letter Agreement Between Honeywell International Inc. and David Cote Regarding Retirement Benefit Calculation
This amendment, dated February 19, 2013, is between Honeywell International Inc. and David Cote. It modifies their previous letter agreement to specify that, for the purpose of calculating Mr. Cote's retirement benefit, the annual incentive amount paid to him in 2013 will be capped at $4,300,000. All other terms of the original agreement remain unchanged. Both parties have agreed to this amendment by signing the letter.
Exhibit 10.1
February 19, 2013
Mr. David Cote
c/o Honeywell International Inc.
101 Columbia Road
Morristown, New Jersey 07962
Dear Dave:
This letter constitutes an amendment to the February 18, 2002 letter agreement between you and Honeywell International Inc., as subsequently amended (the “Letter Agreement”). You understand and agree that if the calculation of your retirement benefit from Honeywell International Inc. (including the Additional Retirement Benefit described in Section 4(e) of the Letter Agreement) includes the annual incentive amount paid to you in 2013, then solely for purposes of calculating your retirement benefit, such amount shall not exceed $4,300,000. This letter does not modify any other provisions of the Letter Agreement, which will otherwise remain in full effect.
Your signature below signifies your agreement.
Very truly yours,
/s/ Mark James
Mark James
Senior Vice President – Human Resources and Communications
Honeywell International Inc.
Read and Accepted
/s/ David Cote
David Cote
Date: February 20, 2013
