UTC has nearly 10,000 employees participating in the Employee Scholar Program. In addition to paying for tuition, books and fees, UTC also gives employees paid time off, up to three hours a week, to attend class or study. Employees can take any course and pursue any degree, regardless of whether it is directly related to their jobs. U.S. program participants who are awarded a bachelor s degree or higher receive 200 shares of UTC common stock. Those who obtain an associate s degree receive 100 shares of stock, and an additional 100 shares if they subsequently obtain a bachelor s degree.
International employees receive a proportional stock award based on their pay.
UTC expects to award its 500,000th share through the program later this year. United Technologies Corporation, based in Hartford, Connecticut, provides a broad range of high technology products and support services to the building systems and aerospace industries.