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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 3/18/19 Resideo Technologies, Inc. 10-K 12/31/18 148:19M ActiveDisclosure/FA |
Document/Exhibit Description Pages Size
1: 10-K Annual Report HTML 1.34M
2: EX-10.05 Material Contract HTML 521K
3: EX-10.06 Material Contract HTML 245K
4: EX-10.07 Material Contract HTML 118K
5: EX-10.19 Material Contract HTML 195K
6: EX-10.20 Material Contract HTML 90K
7: EX-10.21 Material Contract HTML 95K
8: EX-10.22 Material Contract HTML 95K
9: EX-10.23 Material Contract HTML 91K
10: EX-10.24 Material Contract HTML 73K
11: EX-21.1 Subsidiaries List HTML 61K
12: EX-23.1 Consent of Experts or Counsel HTML 42K
13: EX-31.1 Certification -- §302 - SOA'02 HTML 50K
14: EX-31.2 Certification -- §302 - SOA'02 HTML 50K
15: EX-32.1 Certification -- §906 - SOA'02 HTML 44K
16: EX-32.2 Certification -- §906 - SOA'02 HTML 44K
23: R1 Document And Entity Information HTML 78K
24: R2 Consolidated and Combined Statement of Operations HTML 98K
25: R3 Consolidated and Combined Statement of HTML 67K
Comprehensive Income (Loss)
26: R4 Consolidated and Combined Balance Sheet HTML 138K
27: R5 Consolidated and Combined Balance Sheet HTML 52K
(Parenthetical)
28: R6 Consolidated and Combined Statement of Cash Flow HTML 155K
29: R7 Consolidated and Combined Statement of Equity HTML 77K
30: R8 Organization, Consolidation and Presentation of HTML 58K
Financial Statements
31: R9 Summary of Significant Accounting Policies HTML 82K
32: R10 Earnings Per Share HTML 97K
33: R11 Acquisitions HTML 45K
34: R12 Related Party Transactions with Honeywell HTML 128K
35: R13 Revenue Recognition HTML 73K
36: R14 Repositioning Charges HTML 134K
37: R15 Other Expense, Net HTML 71K
38: R16 Income Taxes HTML 322K
39: R17 Accounts Receivables - Net HTML 63K
40: R18 Inventories HTML 63K
41: R19 Property, Plant, and Equipment - Net HTML 77K
42: R20 Goodwill and Other Intangible Assets - Net HTML 155K
43: R21 Accrued Liabilities HTML 79K
44: R22 Long-term Debt and Credit Agreement HTML 108K
45: R23 Lease Commitments HTML 60K
46: R24 Financial Instruments and Fair Value Measures HTML 53K
47: R25 Other Liabilities HTML 60K
48: R26 Accumulated Other Comprehensive Income (Loss) HTML 129K
49: R27 Stock-Based Compensation Plans HTML 84K
50: R28 Commitments and Contingencies HTML 170K
51: R29 Pension HTML 533K
52: R30 Segment Financial Data HTML 204K
53: R31 Geographic Areas - Financial HTML 95K
54: R32 Unaudited Quarterly Financial Information HTML 143K
55: R33 Summary of Significant Accounting Policies HTML 157K
(Policies)
56: R34 Earnings Per Share (Tables) HTML 95K
57: R35 Related Party Transactions with Honeywell (Tables) HTML 122K
58: R36 Revenue Recognition (Tables) HTML 65K
59: R37 Repositioning Charges (Tables) HTML 137K
60: R38 Other Expense, Net (Tables) HTML 70K
61: R39 Income Taxes (Tables) HTML 319K
62: R40 Accounts Receivables - Net (Tables) HTML 59K
63: R41 Inventories (Tables) HTML 64K
64: R42 Property, Plant, and Equipment - Net (Tables) HTML 77K
65: R43 Goodwill and Other Intangible Assets - Net HTML 158K
(Tables)
66: R44 Accrued Liabilities (Tables) HTML 78K
67: R45 Long-term Debt and Credit Agreement (Tables) HTML 97K
68: R46 Lease Commitments (Tables) HTML 59K
69: R47 Other Liabilities (Tables) HTML 59K
70: R48 Accumulated Other Comprehensive Income (Loss) HTML 129K
(Tables)
71: R49 Stock-Based Compensation Plans (Tables) HTML 79K
72: R50 Commitments and Contingencies (Tables) HTML 158K
73: R51 Pension (Tables) HTML 546K
74: R52 Segment Financial Data (Tables) HTML 206K
75: R53 Geographic Areas - Financial (Tables) HTML 97K
76: R54 Unaudited Quarterly Financial Information (Tables) HTML 142K
77: R55 Organization, Operations and Basis of Presentation HTML 55K
- Additional Information (Details)
78: R56 Summary of Significant Accounting Policies - HTML 114K
Additional Information (Details)
79: R57 Earnings Per Share - Addtional Information HTML 59K
(Details)
80: R58 Earnings Per Share - Schedule of Earnings Per HTML 77K
Share (Details)
81: R59 Acquisitions - Additional Information (Details) HTML 61K
82: R60 Related Party Transactions with Honeywell - HTML 57K
Additional Information (Details)
83: R61 Related Party Transactions with Honeywell - HTML 59K
Summary of Due from Related Parties, Current
(Details)
84: R62 Related Party Transactions with Honeywell - HTML 57K
Summary of Due to Related Parties, Current
(Details)
85: R63 Related Party Transactions with Honeywell - HTML 63K
Summary of Components of Net Transfers to and from
Honeywell (Details)
86: R64 Revenue Recognition - Schedule of Disaggregated HTML 67K
Revenue (Details)
87: R65 Revenue Recognition - Additional Information HTML 56K
(Details)
88: R66 Revenue Recognition - Additional Information HTML 46K
(Details 1)
89: R67 Repositioning Charges - Summary of Repositioning HTML 56K
Charge (Details)
90: R68 Repositioning Charges - Summary of Pretax HTML 51K
Distribution of Total Net Repositioning Charges by
Statement of Operations Classification (Details)
91: R69 Repositioning Charges - Additional Information HTML 48K
(Details)
92: R70 Repositioning Charges - Summary of Status of Total HTML 65K
Repositioning Reserves Related to Severance Cost
(Details)
93: R71 Repositioning Charges - Summary of Status of Total HTML 45K
Repositioning Reserves Related to Severance Cost
(Parenthetical) (Details)
94: R72 Other Expense, Net - Summary of Other Expense Net HTML 51K
(Detail)
95: R73 Income Taxes - Schedule of Income Before Taxes HTML 52K
(Details)
96: R74 Income Taxes - Schedule of Components of Income HTML 67K
Tax Expense (Benefit) (Details)
97: R75 Income Taxes - Schedule of Effective Income Tax HTML 76K
Rate Reconciliation, Income Tax expense (Benefit)
(Details)
98: R76 Income Taxes - Additional Information (Details) HTML 92K
99: R77 Income Taxes - Schedule of Tax Effects of HTML 84K
Temporary Differences and Tax Carryforwards
(Details)
100: R78 Income Taxes - Schedule of Net Operating Loss, HTML 53K
Capital Loss and Tax Credit Carryforwards
(Details)
101: R79 Income Taxes - Schedule of Changes in Unrecognized HTML 63K
Tax Benefits (Details)
102: R80 Accounts Receivables Net (Details) HTML 51K
103: R81 Inventories (Details) HTML 54K
104: R82 Property Plant and Equipment - Net - Schedule of HTML 65K
Property Plant and Equipment - Net (Details)
105: R83 Property Plant and Equipment - Net - Additional HTML 45K
Information (Details)
106: R84 Goodwill and Other Intangible Assets - Net - HTML 56K
Schedule of Changes in the Carrying Amount Of
Goodwill (Detail)
107: R85 Goodwill and Other Intangible Assets - Net - HTML 61K
Schedule of Other Intangible Assets With Finite
Lives (Detail)
108: R86 Goodwill and Other Intangible Assets - Net - HTML 59K
Additional Information (Details)
109: R87 Accrued Liabilities - Summary of Accrued HTML 68K
Liabilities (Details)
110: R88 Long-term Debt and Credit Agreement - Schedule of HTML 63K
Debt (Details)
111: R89 Long-term Debt and Credit Agreement - Schedule of HTML 52K
Debt (Parenthetical) (Details)
112: R90 Long-term Debt and Credit Agreement - Scheduled HTML 68K
Principal Repayments Under Senior Credit
Facilities and Senior Notes (Details)
113: R91 Long-term Debt and Credit Agreement - Additional HTML 156K
Information (Details)
114: R92 Lease Commitments - Additional Information HTML 48K
(Details)
115: R93 Lease Commitments - Schedule of Future Minimum HTML 57K
Lease Payments under Operating Leases (Details)
116: R94 Other Liabilities - Summary of Other Liabilites HTML 51K
(Details)
117: R95 Accumulated Other Comprehensive Income (Loss) - HTML 73K
Summary of Changes in Accumulated Other
Comprehensive Income (Loss) by Component (Details)
118: R96 Accumulated Other Comprehensive Income (Loss) - HTML 52K
Summary of Changes in Accumulated Other
Comprehensive Income (Loss) by Component (Details)
(Parenthetical)
119: R97 Stock-Based Compensation Plans - Additional HTML 93K
Information (Details)
120: R98 Stock-Based Compensation Plans - Summarized RSU HTML 55K
Activity Related to Stock Incentive Plan (Details)
121: R99 Stock-Based Compensation Plans - Summarized HTML 50K
Stock-Based Compensation Expense and Related Tax
Benefits (Details)
122: R100 Commitments and Contingencies - Summary of HTML 59K
Information Concernin Recorded Liabilities for
Environmental Costs (Details)
123: R101 Commitments and Contingencies - Additional HTML 84K
Information (Details)
124: R102 Commitments and Contingencies - Summary of HTML 51K
Environmental Liabilities (Details)
125: R103 Commitments and Contingencies - Summary of HTML 51K
Honeywell Reimbursement Agreement Liabilities
(Details)
126: R104 Commitments and Contingencies - Summary of HTML 52K
Honeywell Reimbursement Agreement Liabilities
Included in Balance Sheet Accounts (Details)
127: R105 Commitments and Contingencies - Summary of HTML 53K
Recorded Obligations for Product Warranties and
Product Performance Guarantee (Details)
128: R106 Pension - Additional Information (Details) HTML 63K
129: R107 Pension - Summary of Balance Sheet Impact, HTML 88K
Including Benefit Obligations, Assets and Funded
Status (Details)
130: R108 Pension - Summary of Accumulated Other HTML 57K
Comprehensive (Income) Loss Associated with
Pension Plans (Details)
131: R109 Pension - Summary of Net Periodic Benefit (Income) HTML 65K
Cost and Other Amounts Recognized in Comprehensive
(Income) Loss (Details)
132: R110 Pension - Summary of Net Periodic Benefit (Income) HTML 57K
Cost Other Than The Service Cost Included in Other
Expense, Net (Details)
133: R111 Pension - Summary of Significant Actuarial HTML 64K
Assumptions Used in Determining Benefit
Obligations and Net Periodic Benefit (Income) Cost
(Details)
134: R112 Pension - Summary of Amounts Relate to Significant HTML 56K
Pension Plans with Accumulated Benefit Obligations
Exceeding Fair Value of plan Assets (Details)
135: R113 Pension - Summary of Fair Values of Both U.S. and HTML 96K
Non-U.S. Pension Plans Assets by Asset Category
(Details)
136: R114 Pension - Summary of Changes in Fair Value of HTML 61K
Level 3 Assets for Both U.S. and Non-U.S (Details)
137: R115 Pension - Summary of Benefit Payments (Details) HTML 62K
138: R116 Segment Financial Data - Additional Information HTML 44K
(Details)
139: R117 Segment Financial Data - Schedule of Segment HTML 74K
Information (Details)
140: R118 Segment Financial Data - Schedule of HTML 60K
Reconciliation of Segment Profit to Consolidated
and Combined Income from Continuing Operations
Before Taxes (Details)
141: R119 Segment Financial Data - Schedule of HTML 44K
Reconciliation of Segment Profit to Consolidated
and Combined Income from Continuing Operations
Before Taxes (Parenthetical) (Details)
142: R120 Geographic Areas - Financial - Schedule of HTML 60K
Geographic Areas (Details)
143: R121 Geographic Areas - Financial - Schedule of HTML 52K
Geographic Areas (Parenthetical) (Details)
144: R122 Unaudited Quaterly Financial Information - HTML 72K
Unaudited Quarterly Results of Operations
(Details)
145: R123 Unaudited Quaterly Financial Information - HTML 55K
Unaudited Quarterly Results of Operations
(Parenthetical) (Details)
147: XML IDEA XML File -- Filing Summary XML 274K
146: EXCEL IDEA Workbook of Financial Reports XLSX 142K
17: EX-101.INS XBRL Instance -- rezi-20181231 XML 5.28M
19: EX-101.CAL XBRL Calculations -- rezi-20181231_cal XML 309K
20: EX-101.DEF XBRL Definitions -- rezi-20181231_def XML 893K
21: EX-101.LAB XBRL Labels -- rezi-20181231_lab XML 1.71M
22: EX-101.PRE XBRL Presentations -- rezi-20181231_pre XML 1.51M
18: EX-101.SCH XBRL Schema -- rezi-20181231 XSD 300K
148: ZIP XBRL Zipped Folder -- 0001564590-19-008280-xbrl Zip 271K
Exhibit 10.24
Resideo Supplemental Pension Plan
(Effective October 29, 2018)
Article I - Purpose
Effective October 29, 2018, Resideo Technologies, Inc. adopted the Resideo Supplemental Pension Plan (the “Plan”) to provide certain pension benefits as required by the terms of the spinoff of the Homes and ADI Distribution businesses from Honeywell International Inc.
The purpose of the Plan is to provide Active and Inactive Participants and their joint annuitants and beneficiaries under the Pension Plan with the amount of retirement income that is not provided under the Pension Plan because the Participant deferred compensation under one or more nonqualified deferred compensation plans of Resideo Technologies, Inc. by reason of the limits imposed by Section 415 and 401(a)(17) of the Code. The Plan is also intended to cover any contractual obligation Resideo has to pay pension benefits that cannot be provided under the provisions of the Pension Plan.
The provisions of this Plan are generally applicable only to Active Participants and Inactive Participants who participated in the Honeywell Retirement Earnings Plan immediately prior to October 29, 2018, are employed by Resideo or an Affiliate on or after October 29, 2018, and had their Honeywell Retirement Earnings Plan Accrued Pension Benefit transferred to the Resideo Pension Plan as of October 29, 2018. Except as otherwise provided in a retroactively effective provision of this Plan or required by law, the pension benefit amount, distribution options, and death benefits for any person who was a Terminated Participant as of October 29, 2018 shall be determined by the relevant Honeywell Supplemental Pension Plan in effect as of his termination of service, death or disability, as applicable, with the Honeywell Group before October 29, 2018.
Except to the extent otherwise indicated, and to the extent otherwise inappropriate, the Pension Plan and the provisions thereof are hereby incorporated by reference.
Article II - Definitions
2.1Accrued Pension Benefit - means the amount of retirement income payable under the Pension Plan to or with respect to a Participant at the date required by this Plan.
2.2Actuarial Equivalent or Actuarially Equivalent – means, except as otherwise provided in the Plan, a benefit having the same actuarial value as the benefit it replaces, determined using the same assumptions and methods as are used for determining actuarial equivalency benefit under the Pension Plan.
2.3Board of Directors - means the Board of Directors of Resideo Technologies, Inc.
2.4Code - means the Internal Revenue Code of 1986, as amended from time to time.
2.5Committee - means the Compensation Committee of Resideo Technologies, Inc.
2.6Deferral Plan - means a salary or incentive compensation deferral plan that may be sponsored by Resideo Technologies, Inc. on or after October 29, 2018, as the same may be amended from time to time.
2.7Earliest Retirement Date – means the earliest date as of which the Participant would be eligible to commence the receipt of his Pension Plan benefit, whether or not he elects to commence receipt of such Pension Plan benefit as of such date.
2.8Resideo- means Resideo Technologies, Inc., a Delaware corporation and its Affiliates.
2.9Incentive Plan - means the Resideo Incentive Compensation Plan for Executive Employees, and all successor plans.
2.10Pension Plan - means the Resideo Pension Plan other than the portion of the Resideo Pension Plan providing benefits to Participants under the Pittway formula (Supplement A), union Participants under the Pension Equity formula (Supplement C), and Participants under the Honeywell Pension Plan Part A (unit benefit formula) (Supplement H) and Part B (cash balance formula) (Supplement I), and (iii) the [AlliedSignal Pension Plan for Contractual Obligations].
2.11Plan - means the Resideo Supplemental Pension Plan.
2.12Separation from Service Date – means the date on which the Participant’s separation from service with Resideo and its Affiliates occurs within the meaning of Section 409A of the Code. A Participant’s Separation from Service Date occurs when the facts and circumstances indicate that Resideo and the Participant reasonably anticipate that no further services will be performed after a certain date or that the level of services the Participant will perform after such date will permanently decrease to no more than 20% of the average level of services performed over the immediately preceding 36-month period (or, if shorter, the entire period of the Participant’s employment by Resideo and its Affiliates).
2.13Specified Employee – means any Participant who, at any time during the twelve (12) month period ending on the identification date (as determined by the Vice President, Compensation and Benefits or his delegate), is a specified employee under Section 409A of the Code, as determined by the Vice President, Compensation and Benefits or his delegate, which determination of “specified employees” and identification date shall be made by the Vice President, Compensation and Benefits or his delegate in accordance with the provisions of Sections 416(i) and 409A of the Code and the regulations issued thereunder.
2.14Supplemental Benefit - means the excess, if any, of (i) the retirement income payable to or with respect to a Participant under the Pension Plan that would have been accrued by the Participant (1) had the amount of deferred compensation awards under the Incentive Plan been compensation included for calculating benefits under the Pension Plan in the year the award would otherwise have been earned or payable as recognized by the Pension Plan, (2) had Participant-deferred contributions to the Supplemental Savings Plan been compensation included for calculating benefits under the Pension Plan in the year the compensation would otherwise have been earned or payable as recognized by the Pension Plan, (3) had the portion of base annual salary and incentive awards deferred by a Participant
under the terms of the Deferral Plan, been compensation included for calculating benefits under the Pension Plan in the year the compensation would otherwise have been earned or payable as recognized by the Pension Plan, (4) had the limits of Code Section 415 and 401(a)(17) not been incorporated in the Pension Plan, and (5) had the Participant met all the requirements for a benefit from the Pension Plan with respect to all other pension benefits which Resideo has become contractually obligated to pay to the Participant, over (ii) the Participant's Accrued Pension Benefit. A Participant’s Supplemental Benefit shall include an estimate of any compensation or service that is required to be taken into account under the Pension Plan after the Participant receives payment of his Supplemental Benefit.
Notwithstanding the foregoing, in no event does this definition require the inclusion of deferred compensation, Participant-deferred contributions, base annual salary and incentive awards in a year when such amounts would not have been included under the Participant’s applicable formula under the Pension Plan.
2.15Supplemental Savings Plans – means a supplemental savings plan that may be sponsored by Resideo Technologies, Inc. on or after October 29, 2018, as the same may be amended from time to time.
Article III - Participation
Participation in the Plan shall be limited to:
(a)those Active and Inactive Participants in the Pension Plan (and their joint annuitants and beneficiaries) who, as a result of having deferred an award under an Incentive Plan or compensation under a Supplemental Savings Plan or a Deferral Plan, receive or shall receive a lesser amount under the Pension Plan than would otherwise be paid or payable in the absence of such deferral;
(b)those Active and Inactive Participants in the Pension Plan (and their joint annuitants and beneficiaries) who as a result of the limitations contained in Code Sections 415 or 401(a)(17) receive or will receive a lesser amount under the Pension Plan than would otherwise be paid or payable in the absence of such limitations; and
(c)any Employee who has entered into a contractual agreement with Resideo under which Resideo shall, after the termination of employment of the Employee, provide a benefit in the form of a life annuity for the Employee (and the Employee's joint annuitant or beneficiary) as provided under the terms of the contractual agreement.
Article IV - Supplemental Benefit
4.01Payment of Supplemental Benefit
(a)Supplemental Benefits shall be payable directly to the Participant, or such Participant's joint annuitant or beneficiary, as applicable, from the general assets of Resideo and Resideo shall not be under any obligation to set aside any funds or other assets for the payment of the Supplemental Benefits under this Plan. Resideo may, in its sole discretion, establish funds for payment of these Supplemental Benefits. However, any and all such funds shall remain assets of Resideo and subject to the claims of creditors of the corporation. Such funds, if any, shall not be deemed to be assets of this Plan.
Notwithstanding the preceding paragraph, the Committee is authorized (but not required) to cause Resideo (or any successor thereto) to fund all or a part of the Supplemental Benefits for such Participant or Participants as it may select in its sole discretion from time to time. The amount of such funded Supplemental Benefits shall not be assets of Resideo and shall not be subject to the claims of creditors of Resideo. Such Participants, if any, and the amount of any funded Supplemental Benefits shall be designated in an appendix to this Plan and the Supplemental Benefits of any Participant not designated in a Plan appendix or the portion of any Supplemental Benefit not funded as designated in a Plan appendix shall not be so funded and shall remain subject to the provisions of the preceding paragraph of this Section 4.01(a). A Participant designated on a Plan appendix who is married on the date any funded Supplemental Benefits commence under Section 4.01(b) must obtain the written consent of the Participant's spouse in the form and manner prescribed by the Committee to the election of any form of payment of such funded Supplemental Benefits other than a 50% joint and survivor annuity with the Participant's spouse designated as the joint annuitant. The Committee is authorized to select, appoint and remove trustees or other entities or individuals, to enter into, amend and terminate trust or other agreements, to create trust or other secured funds, to cause Resideo to make contributions to such funds in such amounts as the Committee may determine from time to time and to take all other actions that it may determine to be necessary or helpful in implementing the funding, including providing for the payment of Supplemental Benefits in accordance with applicable law.
(b)The following rules shall be used in determining the time and form of payment for a Participant’s Supplemental Benefit:
(1)Except as otherwise provided in this paragraph (b), the Actuarial Equivalent value of a Participant’s Supplemental Benefit shall be paid in a single lump sum payment as of the first day of the month following 105 days after the later of the Participant’s Separation from Service Date or Earliest Retirement Date. For purposes of this clause (1), the Earliest Retirement Date of a Participant who participates in the REP Formula of the Pension Plan shall be his Separation from Service Date.
(2)A Participant who was provided a payment election for his Supplemental Benefit under the Honeywell Supplemental Pension Plan prior to January 1, 2009 other than a Participant described in clause (3) and who elected an annuity as his payment form shall, prior to his benefit commencement date, be entitled to elect from among the Actuarially Equivalent annuity forms of payment available to the Participant under the Pension Plan other than annuity forms with a level income option. Such payments will begin as of the first day of the month following 105 days after the later of the Participant’s Separation from Service Date or Earliest Retirement Date. If a Participant fails to elect an annuity payment form by the required date, his Supplemental Benefit shall be paid in a single life annuity if he is unmarried on his benefit commencement date or in a joint and 50% survivor annuity, with his opposite sex spouse on his benefit commencement date as his contingent annuitant, if he is married on his benefit commencement date.
(3)A Participant who is entitled to disability pension benefits under the Pension Plan that qualify as “ancillary benefits” shall continue to receive such benefits as required by the Pension Plan as long as the Participant satisfies the conditions applicable to such benefits. The Actuarial Equivalent value of such Participant’s Supplemental Benefit at retirement shall be paid as of the first day of the month following 105 days after the latest date the ancillary disability pension benefits could be paid, whether or not the ancillary disability pension benefits continue to be paid to such date. The form of payment shall be determined in accordance with clause (1) or (2) as applicable.
(c)A Participant’s Supplemental Benefit shall include an estimate of any service or compensation (such as during a severance period or Retirement Bridge Leave) following the Participant’s benefit commencement date that is required to be taken into account in calculating a Participant’s Supplemental Benefit. In no event shall Resideo be required to recalculate or otherwise true up the Supplemental Benefit actually paid.
(d)Except as otherwise provided on Appendix A in relation to Supplemental Benefits accrued under the Honeywell Retirement Benefit Plan formula (Supplement B), for the purpose of determining the Actuarial Equivalent present value of a Participant's accrued Supplemental Benefit, the "Applicable Mortality Table" and the "Applicable Interest Rate" shall be used, as defined below.
(1)The "Applicable Mortality Table" means the mortality table prescribed by the Secretary of the Treasury pursuant to Code Section 417(e). Such table shall be based on the prevailing commissioners' standard table (described in Code Section 807(d)(5)(A)) used to determine reserves for group annuity contracts issued on the date as of which the present value is being determined (without regard to any other subparagraph of Code Section 807(d)(5)).
(2)The "Applicable Interest Rate" means the average annual rate of interest on 30-year Treasury securities determined as of the third calendar month preceding the month during which the benefit commencement occurs.
(e)If a Supplemental Benefit becomes payable and the relevant Pension Plan or agreement is terminated in accordance with its terms, then the Participant shall have a right to only the Supplemental Benefit accrued to the date of termination of the relevant Pension Plan or agreement. In such event, Resideo shall remain liable for the payment of the Supplemental Benefit and payment shall be made at such times and in such manner as provided in this Section 4.01.
(f)Except to the extent that a Participant's Supplemental Benefit is funded as described in Section 4.01(a), the rights and interest of any Participant, joint annuitant, or beneficiary to a Supplemental Benefit under this Plan shall be the same as any other unsecured creditor of Resideo (or any successor thereto). In the event of any bankruptcy proceeding by or against Resideo, a Participant, joint annuitant or beneficiary shall be entitled to prove a claim for any unpaid portion of the benefit provided by the Plan.
(g)No person shall have a right to acceleration of any payment under the Plan. No person shall be entitled to anticipate such benefit by assignment, pledge or transfer in any form or manner prior to actual or constructive receipt of payment.
(h)Notwithstanding any provision of this Section 4.01 to the contrary, if a Participant is a Specified Employee at his Separation from Service Date and payment under this Section 4.01 is required to be made or commence within the 6-month period following his Separation from Service Date, such payment shall be delayed if it is to be made in a single lump sum payment or accumulated if it is to be made in an annuity until the earlier of the first day of the seventh month following the Separation from Service Date or the first day of the month following the Participant’s death, with no interest or earnings accruing on the delayed payments.
4.02Death Benefits
(a)If a Participant receives his Supplemental Benefit in a single lump sum payment, no Supplemental Benefit shall be paid to his surviving spouse or beneficiary following his death.
(b)If a Participant elects to receive his Supplemental Benefit in an annuity that provides a survivor annuity or death benefit, the Participant’s surviving spouse or beneficiary, as applicable, shall receive the applicable survivor benefit or death benefit following the Participant’s death.
(c)If a Participant dies before he receives his Supplemental Benefit, his surviving spouse or beneficiary shall receive the Actuarial Equivalent value of any pre-retirement surviving spouse benefits or death benefits provided by the Pension Plan (1) in the form of the annuity required by the Pension Plan if the Participant elected to receive his Supplemental Benefits in an annuity, or (2) in all other cases, in the form of a single lump sum payment. Such payment will be paid or begin to be paid as of the first day of the month following 105 days after the later of the Participant’s death or the date that would have been the Participant’s Earliest Retirement Date.
Article V - Administration
5.01Plan Administrator - The Vice President, Compensation & Benefits shall be the Plan Administrator and shall serve without compensation. The Plan Administrator shall keep such records as necessary for the proper administration of the Plan and shall report to the Committee at such time or times as the Committee shall designate.
5.02Benefit Determination - The Plan Administrator shall determine the amount and timing of any benefit paid under the Plan. The Plan Administrator shall rely on the records of Resideo in determining any Participant's eligibility for and amount of benefit under the Plan. In the event that the Plan Administrator's reliance on the records of Resideo causes a benefit to be over or under paid, the Plan Administrator shall adjust future payments to be increased or decreased as required. If such future payments are insufficient to recover any overpayment to a Participant, the Plan Administrator shall withhold any payments then due a Participant and take any action deemed appropriate to recover the balance of the overpayment.
5.03Benefit Appeals - The Plan Administrator shall establish an appeals procedure as defined by U.S. Department of Labor regulations. Such procedures will provide that the Participant has sixty (60) days upon receipt of any benefits or denial of benefits to file an appeal with the Plan Administrator. The Plan Administrator must respond within sixty (60) days of receiving the appeal, in writing, specifically identifying those Plan provisions on which the benefit denial was based and indicating what information the Participant must supply in order to perfect a claim for benefits.
5.04Nonduplication of Benefits - To avoid the duplication of benefits, the amount of any similar benefits under this Plan shall be offset and reduced by the amount of any similar benefit provided the Participant under other supplemental pension plans sponsored by Resideo or its Affiliates for which the Participant may be eligible, provided however that payment under all plans shall begin at the same time and in the same form of payment.
5.05Compliance with Section 409A of the Code – The Plan is intended to comply with the applicable requirements of Section 409A of the Code, and will be administered in accordance with Section 409A of the Code to the extent that Section 409A of the Code applies to the Plan. Notwithstanding any provision of the Plan to the contrary, distributions from the Plan may only be made in a manner, and upon an event, permitted by Section 409A of the Code. If any payment or benefit cannot be provided or made at the time specified herein without incurring penalties under Code section 409A, then such benefit or payment will be provided in full at the earliest time thereafter when such penalties will not be imposed. To the extent that any provision of the Plan would cause a conflict with the applicable requirements of Section 409A of the Code, or would cause the administration of the Plan to fail to satisfy the applicable requirements of Section 409A of the Code, such provision shall be deemed null and void to the extent permitted by applicable law.
Article VI - Amendment and Termination
6.01Plan Amendments – Resideo reserves the right to amend the Plan from time to time. The Plan may be amended by the Committee; provided however, that no amendment shall reduce any benefit being paid or then payable to a Participant. Further, no amendment shall reduce the benefits provided by the Plan to Participants or alter in any manner the rights of the Participants to benefits provided under this Plan.
6.02Plan Termination – Resideo reserves the right to terminate the Plan. However, such termination shall not adversely affect the rights of Participants.
APPENDIX A
The lump sum of Supplemental Benefits accrued under the Honeywell Retirement Benefit Plan formula (Supplement B) shall be the present value of the Participant’s Supplemental Benefit or remaining benefit as of the date the Plan is terminated using the following interest rate and mortality assumptions:
Interest: 8 1/2% per annum discount rate
Mortality: 1983 Group Annuity Mortality Table for Healthy Males
| This ‘10-K’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| Filed on: | 3/18/19 | 4 | ||
| For Period end: | 12/31/18 | |||
| 10/29/18 | 3, 3/A, 4, 8-K, 8-K/A | |||
| 1/1/09 | ||||
| List all Filings | ||||
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 2/14/24 Resideo Technologies, Inc. 10-K 12/31/23 138:13M 2/21/23 Resideo Technologies, Inc. 10-K 12/31/22 145:15M 2/15/22 Resideo Technologies, Inc. 10-K 12/31/21 131:20M Donnelley … Solutions/FA 2/25/21 Resideo Technologies, Inc. 10-K 12/31/20 141:23M ActiveDisclosure/FA |