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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950123-07-016843.txt : 20071219
<SEC-HEADER>0000950123-07-016843.hdr.sgml : 20071219
<ACCEPTANCE-DATETIME>20071219122412
ACCESSION NUMBER:		0000950123-07-016843
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20071218
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
FILED AS OF DATE:		20071219
DATE AS OF CHANGE:		20071219

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ITT CORP
		CENTRAL INDEX KEY:			0000216228
		STANDARD INDUSTRIAL CLASSIFICATION:	PUMPS & PUMPING EQUIPMENT [3561]
		IRS NUMBER:				135158950
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05672
		FILM NUMBER:		071315626

	BUSINESS ADDRESS:	
		STREET 1:		FOUR W RED OAK LANE
		CITY:			WHITE PLAINS
		STATE:			NY
		ZIP:			10604
		BUSINESS PHONE:		9146412000

	MAIL ADDRESS:	
		STREET 1:		FOUR W RED OAK LANE
		CITY:			WHITE PLAINS
		STATE:			NY
		ZIP:			10604

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ITT INDUSTRIES INC
		DATE OF NAME CHANGE:	19951220

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ITT CORP
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERNATIONAL TELEPHONE & TELEGRAPH CORP
		DATE OF NAME CHANGE:	19840321
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>y44449e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>8-K</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>






<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, DC 20549</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B><I>Date of Report (Date of earliest event reported): </I></B><B>December&nbsp;18, 2007</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>ITT CORPORATION</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><B><I>(Exact name of registrant as specified in its charter)</I></B></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
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<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Indiana</B><BR>
<B><I>(State or other jurisdiction <BR>
of incorporation)</I></B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>1-5672</B><BR>
<B><I>(Commission<BR>
File Number)</I></B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>13-5158950</B><BR>
<B><I>(IRS Employer<BR>
Identification No.)</I></B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>4 West Red Oak Lane <BR>
White Plains, New York</B><BR>
<B><I>(Address of principal executive offices)</I></B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="BOTTOM"><B>10604</B><BR>
<B><I>(Zip Code)</I></B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>(914)&nbsp;641-2000</B></DIV>

<DIV align="center" style="font-size: 10pt"><B><I>(Registrant&#146;s telephone number, including area code)</I></B></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>NOT APPLICABLE</B></DIV>

<DIV align="center" style="font-size: 10pt"><B><I>(Former name or former address, if changed since last report)</I></B></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">





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</DIV>




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of
Principal Officers; Compensatory Arrangements of Certain Officers.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On December&nbsp;18, 2007, the Compensation and Personnel Committee of the Company&#146;s Board of Director
approved amendments to the ITT Excess Pension Plan IA and the ITT Excess Pension Plan IB (the
&#147;Excess Pension Plans IA and IB&#148;), the ITT Excess Pension Plan II (the &#147;Excess Pension Plan II&#148;),
the ITT Excess Savings Plan (the &#147;Excess Savings Plan&#148;), the ITT Deferred Compensation Plan (the
&#147;Deferred Compensation Plan&#148;) and the severance plans and policies of the Company and its
subsidiaries and other affiliates. The amendments to the Excess Pension Plans IA and IB, the
Excess Pension Plan II, the Excess Savings Plan and the Deferred Compensation Plan become effective
on January&nbsp;1, 2008. The amendments to the severance plans and policies of the Company and its
subsidiaries and other affiliates become effective January&nbsp;1, 2008 or on such later date as may be
determined by the Company&#146;s Senior Vice President, Director Human Resources.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>The Excess Pension Plans IA and IB</I>. The amendments to the Excess Pension Plans IA and IB stop
additional participation in the plans after December&nbsp;31, 2007, and make certain changes to the
plan&#146;s payment and payment election provisions to comply with, and take advantage of transition
relief under, Section&nbsp;409A of the Internal Revenue Code of 1986, as amended (the &#147;Code&#148;). The
amendments relating to Section&nbsp;409A of the Code require a lump sum form of payment for certain
benefits under the plans, preclude participants from electing to receive certain of their benefits
in a lump sum or to change prior lump sum elections after June&nbsp;30, 2008, allow participants to make
one-time changes to the time and form of payment of certain of their benefits in 2008 pursuant to
transition relief under Section&nbsp;409A guidance and require a six month delay in the payment of
benefits under the plans following separation from service for reasons other than death or
disability. Any such delayed payments will (i)&nbsp;be made in the seventh month following the
participant&#146;s separation from service, (ii)&nbsp;include a retroactive payment of any monthly annuity
payments due for the first six months following such separation of service, and (iii)&nbsp;be increased
by interest to reflect the delay in payments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>The Excess Pension Plan II</I>. The amendments to the Excess Pension Plan II provide that the plan
will be split into two plans, (i)&nbsp;one plan covering benefits that would be payable on a
participant&#146;s behalf under the Company&#146;s qualified pension plan but for the limitations on benefits
imposed by Sections&nbsp;415 and 401(a)(17) of the Code and (ii)&nbsp;one plan covering all remaining Excess
Plan II benefits not attributable to the excess benefits covered under the Excess Pension Plan IIA.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>The Excess Savings Plan</I>. The amendments to the Excess Savings Plan eliminated instalments as a
form of payment and provided that, with respect to a participant who is considered a &#147;key employee&#148;
as determined by the Compensation and Personnel Committee of the Company&#146;s Board of Directors in
accordance with Section&nbsp;409A, the distribution of such participant&#146;s entire account due to his or
her separation from service for reasons other than death or disability will be paid in the seventh
month following his or her separation from service.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>The Deferred Compensation Plan</I>. The amendments to the Deferred Compensation Plan provide that (i)
with respect to a participant who is considered a &#147;key employee&#148; as determined by the Compensation
and Personnel Committee of the Company&#146;s Board of Directors in accordance with Section&nbsp;409A, the
distribution of the portion of such participant&#146;s account subject to Code Section&nbsp;409A due to the
participant&#146;s separation from service for reasons other than death or disability will be paid in
the seventh month following his or her separation from service and (ii)&nbsp;participants must be
employed by the Company or one of its subsidiaries or affiliated companies on the first day of the
calendar year in order to make a deferral election under the provisions of the plan with respect to
any portion of his or her bonus earned in that calendar year.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>The Severance Plans and Policies</I>. The severance plans and policies of the Company and its
subsidiaries and other affiliates were amended to eliminate the option of receiving all severance
payments in a single lump sum with respect to employees who are notified of their involuntary
termination after December&nbsp;31, 2007.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="RIGHT" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="34%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="4" align="left">ITT CORPORATION<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: December 19, 2007&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>

<TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ Kathleen S. Stolar
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left">Kathleen S. Stolar&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Its:&nbsp;</TD>
    <TD colspan="2" align="left">Vice President, Secretary
and Associate General Counsel&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>




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