Exhibit 10.1
EXECUTION COPY
     ACCESSION AGREEMENT dated as of November 8, 2007, among the financial
institutions executing this Agreement as INCREASING LENDERS (collectively, the
“Increasing Lenders” ITT CORPORATION, an Indiana corporation (the “Company”),
and JPMORGAN CHASE BANK, N.A., as administrative agent for the Lenders (in such
capacity, the “Administrative Agent”).
          A. Reference is made to the Amended and Restated Five-Year Competitive
Advance and Revolving Credit Facility Agreement dated as of November 10, 2005
(as amended, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among the Company, the Lenders, JPMorgan Chase Bank, N.A.
(“JPMCB”), as Administrative Agent, Deutsche Bank Securities Inc., Citicorp USA
Inc., and the Bank of Tokyo-Mitsubishi Ltd., as Syndication Agents, and Societe
Generale, as Documentation Agent. Capitalized terms used and not otherwise
defined herein shall have the meanings assigned to such terms in the Credit
Agreement.
          B. Pursuant to Section 2.12(e) of the Credit Agreement, the Company
has requested the Increasing Lenders to extend, and the Increasing Lenders have
agreed to extend, effective November 8, 2007, additional Commitments in
accordance with the provisions of the Credit Agreement (the “Incremental
Commitments”).
          Accordingly, the Increasing Lenders, the Company and the
Administrative Agent agree as follows:
          SECTION 1. Incremental Commitments. Each Increasing Lender hereby
agrees, effective as of the Effective Date, to extend an Incremental Commitment
in the amount set forth opposite its name on Schedule 1A hereto.
          SECTION 2. Representations and Warranties, Agreements of Increasing
Lenders, etc. Each Increasing Lender represents and warrants that it has full
power and authority, and has taken all action necessary, to execute and deliver
this Agreement.
          SECTION 3. Effectiveness. (a) This Agreement shall become effective as
of November 8, 2007, or such later date as shall be agreed upon by the Company
and the Administrative Agent and set forth in a notice delivered to the
Increasing Lenders (the “Effective Date”), subject to (i) the Administrative
Agent’s receipt of counterparts of this Agreement duly executed on behalf of
each Increasing Lender and the Company; (ii) the Administrative Agent’s receipt
of a duly completed Administrative Questionnaire from each Increasing Lender
that was not previously a Lender; and (iii) the satisfaction, on and as of the
Effective Date, of the conditions set forth in Section 2.12(e) of the Credit
Agreement.

 

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          (b) Upon the effectiveness of this Agreement, the Administrative Agent
shall give prompt notice thereof to the Increasing Lenders.
          SECTION 4. Counterparts. This Agreement may be executed in multiple
counterparts, each of which shall constitute an original, but all of which, when
taken together, shall constitute a single instrument.
          SECTION 5. Governing Law. THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK.
          SECTION 6. Notices. All notices and other communications hereunder
shall be in writing and given as provided in Section 9.01 of the Credit
Agreement. All communications and notices hereunder to an Increasing Lender
shall be given to it at the address set forth under its signature hereto.

 

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          IN WITNESS WHEREOF, the parties hereto have caused this Agreement to
be duly executed by their respective authorized officers as of the date and year
first above written.

                  ITT CORPORATION    
 
           
 
  by   /s/ Donald Foley
 
        Name: Donald Foley
Title: Sr. V. P. Treasurer and Director of Taxes    
 
                JPMORGAN CHASE BANK, N.A., as Administrative Agent and
Increasing Lender,    
 
           
 
  by   /s/ Anthony W. White
 
        Name: Anthony W. White
Title: Vice President    

 

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Increasing Lender signature page to the
ITT Corporation Accession Agreement
To approve the Accession Agreement:
Name of Increasing Lender

                  CITICORP USA, INC.,    
 
           
 
  by   /s/ Christopher M. Hartzell
 
Name: Christopher M. Hartzell    
 
      Title: Vice President    

 

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Increasing Lender signature page to the
ITT Corporation Accession Agreement
To approve the Accession Agreement:
Name of Increasing Lender

                  The Bank of Tokyo — Mitsubishi UFJ, Ltd.
New York Branch    
 
           
 
  by   /s/ Kenneth K. Eguea
 
Name: Kenneth K. Eguea    
 
      Title: Authorized Signatory    
 
            For any Increasing Lender that requires a second signature line:
 
           
 
  by        
 
     
 
Name:
Title:    

 

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Increasing Lender signature page to the
ITT Corporation Accession Agreement
To approve the Accession Agreement:
Name of Increasing Lender

                  SOCIETE GENERALE    
 
           
 
      /s/ Maria Iarriccio
 
Maria Iarriccio
Vice President    

 

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Increasing Lender signature page to the
ITT Corporation Accession Agreement
To approve the Accession Agreement:
Name of Increasing Lender

                  UBS LOAN FINANCE LLC    
 
           
 
  by   /s/ Mary E. Evans
 
Name: Mary E. Evans    
 
      Title: Associate Director    
 
            For any Increasing Lender that requires a second signature line:
 
           
 
  By   /s/ Irja R. Otsa
 
Name: Irja R. Otsa    
 
      Title: Associate Director    

 

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Increasing Lender signature page to the
ITT Corporation Accession Agreement
To approve the Accession Agreement:
Name of Increasing Lender

                  WELLS FARGO BANK, N.A.    
 
           
 
  by   /s/ Jordan Fragiacomo
 
Name: Jordan Fragiacomo    
 
      Title: Vice President    
 
            For any Increasing Lender that requires a second signature line:
 
           
 
  by        
 
     
 
Name:
Title:    

 

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Increasing Lender signature page to the
ITT Corporation Accession Agreement
To approve the Accession Agreement:
Name of Increasing Lender

                  ING CAPITAL LLC    
 
           
 
  by   /s/ John Kippax
 
Name: John Kippax
Title: Managing Director    
 
            For any Increasing Lender that requires a second signature line:
 
           
 
  by        
 
     
 
Name:
Title:    

 

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Increasing Lender signature page to the
ITT Corporation Accession Agreement
To approve the Accession Agreement:
Name of Increasing Lender

                  THE NORTHERN TRUST COMPANY    
 
           
 
  By   /s/ Peter J. Hallan
 
   
 
      Name: Peter J. Hallan    
 
      Title: Vice President    

For any Increasing Lender that requires a second signature line:

             
 
  by        
 
     
 
Name:    
 
      Title:    

 

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Increasing Lender signature page to the
ITT Corporation Accession Agreement
To approve the Accession Agreement:
Name of Increasing Lender

                  THE ROYAL BANK OF SCOTLAND PLC    
 
           
 
  by   /s/ L. Peter Yetman
 
Name: L. Peter Yetman    
 
      Title: SVP    

 

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Increasing Lender signature page to the
ITT Corporation Accession Agreement
To approve the Accession Agreement:
Name of Increasing Lender

                  BNP PARIBAS    
 
           
 
  by   /s/ Rick Pace
 
Name: Rick Pace    
 
      Title: Managing Director    

For any Increasing Lender that requires a second signature line:

             
 
  by   /s/ Melissa Balley
 
   
 
      Name: Melissa Balley    
 
      Title: Vice President    

 

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Increasing Lender signature page to the
ITT Corporation Accession Agreement
To approve the Accession Agreement:
Name of Increasing Lender
BARCLAYS BANK PLC

             
 
  by   /s/ Nicholas Bell
 
Name: Nicholas Bell    
 
      Title: Director    

For any Increasing Lender that requires a second signature line:

             
 
  by        
 
     
 
Name:    
 
      Title:    

 

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Increasing Lender signature page to the
ITT Corporation Accession Agreement
To approve the Accession Agreement:
Name of Increasing Lender

             
 
      INTESA SANPAOLO SPA    
 
           
 
  by   /s/ Frank Maffei
 
Name: Frank Maffei    
 
      Title: Vice President    

For any Increasing Lender that requires a second signature line:

             
 
  by   /s/ Nicholas Matacchieri
 
Name: Nicholas Matacchieri    
 
      Title: Director    

 

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Increasing Lender signature page to the
ITT Corporation Accession Agreement
To approve the Accession Agreement:
Name of Increasing Lender

                  Sveusha Handelsbanhen AB (Public)    
 
           
 
  by   /s/ Marcus Ronnestam
 
   
 
      Name: Marcus Ronnestam    
 
      Title: Vice President    

For any Increasing Lender that requires a second signature line:

             
 
  by   /s/ Richard Johnson
 
Name: Richard Johnson    
 
      Title: Senior Vice President    

 

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Increasing Lender signature page to the
ITT Corporation Accession Agreement
To approve the Accession Agreement:
Name of Increasing Lender

                  U.S. BANK N.A.    
 
           
 
  By   /s/ Michael P. Dickman
 
Name: Michael P. Dickman    
 
      Title: U.S. Bank N.A.    
 
           
 
      Michael P. Dickman
Vice President
U.S. Bank, N.A.    

 

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Increasing Lender signature page to the
ITT Corporation Accession Agreement
To approve the Accession Agreement:
CREDIT INDUSTRIEL ET COMMERCIAL

             
 
       
 
     
 
  by   /s/ Eric Dulot
 
Name: Eric Dulot    
 
      Title: Vice President    
 
           
 
  by   /s/ Eric Longuet
 
   
 
      Name: Eric Longuet    
 
      Title: Vice President    

 

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SCHEDULE 1A
INCREMENTAL COMMITMENTS

          Increasing Lender   Incremental Commitment
JPMorgan Chase Bank, N.A.
  $ 55,000,000  
Citicorp USA, Inc.
  $ 45,000,000  
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
  $ 45,000,000  
Societe Generale
  $ 45,000,000  
UBS Loan Finance LLC
  $ 45,000,000  
Wells Fargo Bank, N.A.
  $ 45,000,000  
ING Bank N.V.
  $ 45,000,000  
The Northern Trust Company
  $ 30,000,000  
The Royal Bank of Scotland PLC
  $ 30,000,000  
BNP Paribas
  $ 25,000,000  
Barclays Bank PLC
  $ 20,000,000  
Intesa Sanpaolo SpA
  $ 20,000,000  
Svenska Handelsbanken AB
  $ 20,000,000  
US Bank, N.A.
  $ 20,000,000  
Credit Industrial et Commercial
  $ 10,000,000