Exhibit 10.3
UNITED TECHNOLOGIES CORPORATION
PENSION PRESERVATION PLAN
AS AMENDED AND RESTATED EFFECTIVE JANUARY 1, 1996
1. INTRODUCTION & PURPOSE
The United Technologies Corporation Pension Preservation Plan (the "Preservation Plan") is
maintained as an unfunded plan solely for the purpose of providing retirement benefits in excess of
the retirement and survivor benefits that may be paid from tax-qualified retirement plans due to (i)
benefit limitations imposed by Section 415 of the Internal Revenue Code of 1986, as amended
from time to time (the "Code") and (ii) the limitation imposed by Section 401 (a)(17) of the Code on
compensation that may be taken into account in computing retirement benefits under tax-qualified
retirement plans (referred to collectively as the "Limits"). The Preservation Plan restores the
amount of the retirement benefit or survivor benefit that is not paid from the United Technologies
Corporation Employee Retirement Plan (or any other tax-qualified defined benefit retirement plan
sponsored by the Corporation) (the qualified Retirement Plan") as a result of the Limits so that the
total actuarial present value of the Qualified Retirement Plan and Pension Preservation Plan
benefits equals the actuarial present value of the retirement benefit or survivor benefit that would be
paid from the Qualified Retirement Plan if such Plan were administered without regard to the
Limits. The Preservation Plan shall be administered and construed to effectuate the foregoing
intent.
The capitalized terms used herein shall have the meanings given to them by the United
Technologies Corporation Employee Retirement Plan unless the context clearly indicates
otherwise.
2. EFFECTIVE DATE
The Preservation Plan became effective on January 1, 1978. This amendment and restatement of
the Preservation Plan shall be effective January 1, 1996, except to the extent otherwise specifically
provided herein.
3. ELIGIBILITY
An employee of United Technologies Corporation (the "Corporatio