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(For directors who have already
selected a Specified Distribution Date for their 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) [INSERT DIRECTOR’S SPECIFIED DISTRIBUTION
DATE i ] , which is the Specified
Distribution Date you previously elected, (2) your Retirement
or (3) your death.
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SECTION 3
– INVESTMENT ELECTION
I elect the
following with respect to my $90,000 Annual Retainer
deferral:
(select
one if you have elected to defer your $90,000 Annual
Retainer)
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Fixed Rate Fund
. My $90,000 Annual
Retainer will earn an annual rate of interest updated as of the
annual meeting date each year.
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ITT Corporation Stock
Fund . My
$90,000 Annual Retainer will be deemed invested in ITT Corporation
common stock, including dividends.
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Page 1 of 3
(For directors who have already
selected a Specified Distribution Date for their non-grandfathered
deferrals)
SECTION 4
– SUBSEQUENT ELECTIONS
Except as
described in this Section 4, the deferral elections you make
pursuant to
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