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(For directors who have not yet
selected a Specified Distribution Date for non-grandfathered
deferrals)
ITT CORPORATION
DEFERRED COMPENSATION PLAN
FOR NON-EMPLOYEE DIRECTORS
DEFERRAL ELECTION FORM
Please read
carefully before completing:
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Complete this form and return to:
Attention: Vivian Houchens, The Newport Group, 3957 Westerre
Parkway, Suite 401, Richmond, VA 23233, and retain a duplicate
copy for your records.
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The Newport Group must receive your
signed completed form on or before November 21, 2008 for your
deferral election to be effective.
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SECTION 1
– DIRECTOR INFORMATION
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First
Name
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MI
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Social Security
Number
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Daytime
Telephone
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I understand
that this Deferral Election Form relates to the deferral of the
cash portion of my $90,000 annual retainer (“$90,000 Annual
Retainer”) to be earned as a Non-Employee Director of ITT
Corporation (the “Company”) during the period from the
Annual Meeting of Shareholders in 2009 until the day immediately
preceding the date of the Annual Meeting of Shareholders in 2010
pursuant to the ITT Corporation Deferred Compensation Plan for
Non-Employee Directors (the “Plan”). Any capitalized
terms used in this Deferral Election Form, if not otherwise defined
herein, will have the same meanings as provided in the
Plan.
SECTION 2
– DEFERRAL ELECTION
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I
hereby elect NOT to defer my $90,000 Annual
Retainer.
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Retirement Subaccount:
I hereby elect to defer
receipt of my $90,000 Annual Retainer and to allocate it to my
Retirement Subaccount. Amounts allocated to the Retirement
Subaccount will be distributed as a lump sum upon the earlier of
your Retirement or death.
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In-Service Subaccount:
I hereby elect to defer
receipt of my $90,000 Annual Retainer and to allocate it to my
In-Service Subaccount. Amounts allocated to the In-Service
Subaccount will be distributed as a lump sum upon the earliest of
(1) the Specified Distribution Date* you specified
below, (2) your Retirement or (3) your death.
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*
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Specified Distribution
Date: (The
Specified Distribution Date is the date amounts allocated to your
In-Service Subaccount will be distributed unless you retire or die
before the Specified Distribution Date. If you have chosen to
allocate your deferrals to the “In-Service Subaccount,”
you must specify a Specified Distribution Date. Do not specify a
Specified Distribution Date if you are not electing to allocate
your deferrals to the “In Service
Subaccount.”)
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IMPORTANT: READ THE INFORMATION BELOW REGARDING SPECIFIED
DISTRIBUTION DATES BEFORE SELECTING A SPECIFIED DISTRIBUTION
DATE.
I elect the
following as my Specified Distribution Date:
/
/
(day/month/year).
Unless the
Plan’s Administrative Committee provides otherwise and except
as otherwise provided in Section 4 below,
Page 1 of 3
(For directors who have not yet
selected a Specified Distribution Date for non-grandfathered
deferrals)
YOU WILL NOT
BE ABLE TO CHANGE YOUR SPECIFIED DISTRIBUTION DATE
YOU MAY HAVE
ONLY ONE SPECIFIED DIST
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