Amendment to United Technologies Corporation Long Term Incentive Plan (2004)
United Technologies Corporation has amended its Long Term Incentive Plan, originally adopted in 1989 and previously amended in 1995, to comply with updated New York Stock Exchange rules. The amendment adds a provision that the plan will not continue beyond April 24, 2005, unless extended by a majority vote of the company's shareholders. This ensures the plan meets current shareholder approval requirements for equity compensation arrangements.
Exhibit 10.6
UNITED TECHNOLOGIES CORPORATION
LONG TERM INCENTIVE PLAN
AMENDMENT
Whereas, the United Technologies Corporation Long Term Incentive Plan (the “Plan”) was adopted by the Corporation and approved by shareowners on April 24, 1989 and subsequently amended and approved again by shareowners on April 25, 1995; and
Whereas, the New York Stock Exchange has amended its listing standards relative to shareholder approval requirements of equity compensation arrangements to require, among other things, that the Plan have a ten-year term limit effective from the date of the most recent shareholder approval;
Now therefore, the Plan is hereby amended, effective as follows:
| 1. | Section 8 of the Plan is amended by adding the following sentence at the end thereof: |
The Plan shall in no event continue beyond April 24, 2005 unless extended by a majority vote of the Corporation’s shareowners.
| UNITED TECHNOLOGIES CORPORATION | ||
| William L. Bucknall, Jr. Sr. Vice President Human Resources and Organization | ||
| Attest: |
| Richard M. Kaplan |
| Date: January 28, 2004 |
