United Technologies Corporation
Recognition Stock Options
This document constitutes part of a prospectus covering securities that have been registered under the Securities Act of 1933.
This prospectus applies to the offer and sale of up to 4,000,000 shares of United Technologies Corporation Common Stock per
year under the United Technologies Corporation Employee Stock Option Plan (the “Plan”), issuable upon the exercise of stock
options awarded under the Plan.
The date of this prospectus is December 17, 2003.
Ownership of Company stock by employees is an effective way to align employees’ interests with the interests of the
Company’s shareowners. That is why UTC has established the Recognition Stock Option Program for key employees below the
executive level. The Recognition Stock Option Program is part of the UTC Employee Stock Option Plan.
Under the Recognition Stock Option Program, outstanding employees whose decisions impact the performance of the company,
and whose skilled execution of those decisions helps to add value for shareowners, can now personally benefit from the value
they help create.
Under the Recognition Stock Option Program, certain key employees selected by UTC receive stock option awards that increase
in value — if, and to the extent, UTC’s stock price increases.
Stock options represent long-term value to the employee based upon long-term commitment to UTC and long-term improvement
in UTC’s business performance and stock price. This program is another way UTC identifies and recognizes the contributions
of its employees.
Your supervisor’s decision to award you stock options is a vote of confidence in your abilities, continued high performance,
and your commitment. You now can help convert your stock option award into a valuable part of your personal financial
Under the Recognition Stock Option Program, UTC grants stock option awards.
Each option gives