Special Senior Executive Severance Pay Plan
(amended and restated as of December 31, 2008)
The purpose of this ITT Corporation Special Senior Executive Severance Pay Plan (“ Plan ”) is to assist in
occupational transition by providing Severance Benefits, as defined herein, for employees covered by this Plan
whose employment is terminated under conditions set forth in this Plan.
2. Covered Employees
“ Special Severance Executives ”) are active full-time, regular salaried
employees of ITT Corporation, (“ ITT ”) and of any subsidiary company (“ ITT Subsidiary ”) (collectively or
individually as the context requires “ Company ”) (including Special Severance Executives who are short term
disabled as of a Potential Acceleration Event within the meaning of the Company’s short term disability plans)
(other than Special Severance Executives on periodic severance as of a Potential Acceleration Event) who are in
Band A or B or were in Band A or B at any time within the two year period immediately preceding an
Acceleration Event and such other employees of the Company who shall be designated as covered employees in
Band A or B under the Plan by the Compensation and Personnel Committee of ITT’s Board of Directors.
“ Bands A and B ” shall have the meaning given such terms under the executive classification system of the
ITT Human Resources Department as in effect immediately preceding an Acceleration Event. After the
occurrence of an Acceleration Event, the terms “ITT”, “ITT Subsidiary” and “Company” as used herein shall also
include, respectively and as the context requires, any successor company to ITT or any successor company to
any ITT Subsidiary and any affiliate of any such successor company.
An “ Acceleration Event ” shall occur if (i) a report on Schedule 13D shall be filed with the Securities and
Exchange Commission pursuant to Section 13(d) of the Securities Exchange Act of 1934 (the “ Act ”) disclosing
that any p