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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>UNITED
                  STATES</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
                  AND EXCHANGE COMMISSION</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>WASHINGTON,
                  D.C. 20549</strong></font></div>
              </td>
            </tr>
            <tr>
              <td colspan="3" valign="top" width="72%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>FORM
                  8-K</strong></font></div>
              </td>
            </tr>
            <tr>
              <td colspan="3" valign="top" width="72%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
                  REPORT</strong></font></div>
              </td>
            </tr>
            <tr>
              <td colspan="3" valign="top" width="72%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Pursuant
                  to Section 13 or 15 (d) of the Securities Exchange Act of
                  1934</strong></font></div>
              </td>
            </tr>
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              <td colspan="3" valign="top" width="72%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Date
                  of Report&#160;&#160;&#160; -&#160;&#160; December 7,
                  2005</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Date
                  of earliest event reported)</font></div>
              </td>
            </tr>
            <tr>
              <td colspan="3" valign="top" width="72%" style="BORDER-BOTTOM: medium none">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>INGERSOLL-RAND
                  COMPANY LIMITED</u></strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
                  name of registrant as specified in its charter)</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="24%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Bermuda</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">State
                  or other jurisdiction of incorporation)</font></div>
              </td>
              <td valign="top" width="24%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>1-985</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Commission
                  File Number)</font></div>
              </td>
              <td valign="top" width="24%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>75-2993910</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(I.R.S.
                  Employer Identification No.)</font></div>
              </td>
            </tr>
            <tr>
              <td colspan="3" valign="top" width="72%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Clarendon
                  House</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>2
                  Church Street</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Hamilton
                  HM 11, Bermuda</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
                  of principal executive offices, including zip code)</font></div>
              </td>
            </tr>
            <tr>
              <td colspan="3" valign="top" width="72%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(441)
                  295-2838</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Registrant's
                  phone number, including area code)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>N/A</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Former
                  name or former address, if changed since last report)</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" colspan="3" valign="top" width="72%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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:</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font>&#160;&#160;&#160;&#160;
                  </font><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Arial, sans-serif">Written
                  communications pursuant to Rule 425 under the Securities Act (17
                  CFR
                  230.425)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font face="Wingdings">o</font>&#160;&#160;&#160;&#160;
</font><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Arial, sans-serif">Soliciting
                  material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                  240.14a-12)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font face="Wingdings">o</font>&#160;&#160;&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Arial, sans-serif">
                  Pre-commencement communications pursuant to Rule 14d-2(b) under
                  the
                  Exchange Act (17 CFR 240.14d-2(b))</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font face="Wingdings">o</font>&#160;&#160;&#160;&#160;
</font><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Arial, sans-serif">Pre-commencement
                  communications pursuant to Rule 13e-4(c) under the Exchange Act
                  (17 CFR
                  240.13e-4(c))</font></div>
              </td>
            </tr>

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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        1.01. Entry into a Material Definitive Agreement.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Salary
        of Executive Officer</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        December 7, 2005, the Compensation Committee (the &#8220;Compensation Committee&#8221;) of
        the Board of Directors (the &#8220;Board&#8221;) of Ingersoll-Rand Company Limited (the
&#8220;Company&#8221;) approved an increase in the base annual salary of Christopher P.
        Vasiloff, Senior Vice President of the Company, from $440,000 to $460,000,
        effective December 1, 2005, after a review of performance and competitive
        market
        data. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Accelerated
        Vesting of Certain Previously Awarded Stock Options</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        December 7, 2005, the Compensation Committee of the Board of Directors of
        the
        Company approved the acceleration of the vesting of all outstanding and unvested
        stock options under the Company&#8217;s stock plans for active employees effective
        December 31, 2005. As a result of the acceleration, 9.7 million stock options
        will become exercisable, with exercise prices ranging from $19.53 to $39.85
        and
        a weighted average exercise price of $34.95. Included in the amount are stock
        options for executive officers totaling 2.0 million, with a range of exercise
        prices of $19.53 to $39.85 and a weighted average exercise price of $34.23.
        The
        stock options held by the independent directors of the Company are not impacted.
        Options issued on or prior to December 31, 2002, are fully vested as of December
        31, 2005, under the normal three-year vesting period for options and therefore
        are not affected by the acceleration of vesting.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
        addition to the acceleration of the vesting date, the terms and conditions
        of
        the stock option agreements governing the stock options were changed to prohibit
        transfers (including sales, gifts, pledges or other transfers of any kind)
        of
        any shares acquired through the exercise of these accelerated options until
        the
        earlier of (i) the original vesting date of the option or (ii) termination
        of
        employment, retirement, death or disability. In addition, in order to effectuate
        the acceleration, the Incentive Stock Plan of 1998 was amended effective
        December 31, 2005, to eliminate the provision requiring one year of employment
        before options can be exercised. A copy of the amendment is attached hereto
        as
        Exhibit 4.1.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Typically,
        the Company grants stock options that vest ratably over a three-year period.
        The
        Company has been using a method in its pro forma footnote disclosure that
        recognizes retirement-eligible employees&#8217; option compensation expense over the
        normal vesting period until the employee retires. Upon retirement, the
        compensation expense is fully recognized in the pro forma footnote disclosure.
        After adoption of SFAS 123 (R) on January 1, 2006, compensation expense for
        options issued prior to adoption will be calculated using the same method
        employed in the prior pro forma footnote disclosure. However, this compensation
        expense will be recognized in the income statement. For options issued
        subsequent to January 1, 2006, compensation expense will be recognized in
        the
        income statement using the method prescribed by the new pronouncement.
        Therefore, the total compensation expense associated with options issued
        after
        January 1, 2006, to retirement-eligible employees will be recognized immediately
        in the income statement. </font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        accelerated vesting enables the Company to eliminate the need to apply two
        different methodologies in calculating compensation expense on a going-forward
        basis. In addition, as a result of this action, the aggregate pretax expense
        that would have been reflected in the Company&#8217;s consolidated financial
        statements in future fiscal years will be reduced by $67.8 million ($41.2
        million, $24.4 million, and $2.2 million in 2006, 2007, and 2008, respectively)
        or $41.9 million after tax. As a result of the accelerated vesting, this
        total
        amount will instead be included in the pro forma footnote disclosure in 2005.
        </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        8.01. Other Events.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Equity-Based
        Savings Plans</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        number of the Company&#8217;s Class A common shares available for issuance under the
        Registration Statement filed on Form S-8 (Registration No. 333-42133) on
        December 12, 1997, which relates to certain of the Company&#8217;s equity-based
        savings plans, increased by 6,100,000 shares as a result of the two-for-one
        split of the Company&#8217;s Class A common shares on September 1, 2005. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        9.01. Financial Statements and Exhibits. </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
        </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)&#160;&#160;
        Exhibits </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
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                  to the Ingersoll-Rand Company Limited Amended and Restated Incentive
                  Stock
                  Plan of 1998, dated December 7,
                  2005.</font></div>
              </td>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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        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.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
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              <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>INGERSOLL-RAND
                COMPANY LIMITED</strong></font></td>
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              <td>&#160;</td>
              <td colspan="2">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 54pt; MARGIN-RIGHT: 0pt">&#160;<font size="2">(<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Registrant</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">)</font></font></div>
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              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
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              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:&#160;December
                9, 2005</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>/s/&#160;Patricia
                Nachtigal&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                </u></font></td>
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              <td align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Patricia
                Nachtigal</font></td>
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              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Senior
                Vice President and General Counsel</font></td>
            </tr>

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{"company-data": {"conformed-name": "INGERSOLL RAND CO LTD", "cik": "0001160497", "assigned-sic": "3560", "irs-number": "752993910", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-16831", "film-number": "051256050"}, "business-address": {"street1": "155 CHESTNUT RIDGE ROAD", "city": "MONTVALE", "state": "NJ", "zip": "07645", "phone": "2015730123"}, "mail-address": {"street1": "155 CHESTNUT RIDGE ROAD", "city": "MONTVALE", "state": "NJ", "zip": "07645"}}
Unassociated Document
UNITED
                  STATES
SECURITIES
                  AND EXCHANGE COMMISSION
WASHINGTON,
                  D.C. 20549
FORM
                  8-K
CURRENT
                  REPORT
Pursuant
                  to Section 13 or 15 (d) of the Securities Exchange Act of
                  1934
Date
                  of Report    -   December 7,
                  2005
(Date
                  of earliest event reported)
INGERSOLL-RAND
                  COMPANY LIMITED
(Exact
                  name of registrant as specified in its charter)
Bermuda
(
State
                  or other jurisdiction of incorporation)
1-985
(
Commission
                  File Number)
75-2993910
(I.R.S.
                  Employer Identification No.)
Clarendon
                  House
2
                  Church Street
Hamilton
                  HM 11, Bermuda
(Address
                  of principal executive offices, including zip code)
(441)
                  295-2838
(Registrant's
                  phone number, including area code)
N/A
(Former
                  name or former address, if changed since last report)
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:
o
Written
                  communications pursuant to Rule 425 under the Securities Act (17
                  CFR
                  230.425)
o
Soliciting
                  material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                  240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under
                  the
                  Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement
                  communications pursuant to Rule 13e-4(c) under the Exchange Act
                  (17 CFR
                  240.13e-4(c))
Item
        1.01. Entry into a Material Definitive Agreement.
Salary
        of Executive Officer
On
        December 7, 2005, the Compensation Committee (the "Compensation Committee") of
        the Board of Directors (the "Board") of Ingersoll-Rand Company Limited (the
"Company") approved an increase in the base annual salary of Christopher P.
        Vasiloff, Senior Vice President of the Company, from $440,000 to $460,000,
        effective December 1, 2005, after a review of performance and competitive
        market
        data.
Accelerated
        Vesting of Certain Previously Awarded Stock Options
On
        December 7, 2005, the Compensation Committee of the Board of Directors of
        the
        Company approved the acceleration of the vesting of all outstanding and unvested
        stock options under the Company's stock plans for active employees effective
        December 31, 2005. As a result of the acceleration, 9.7 million stock options
        will become exercisable, with exercise prices ranging from $19.53 to $39.85
        and
        a weighted average exercise price of $34.95. Included in the amount are stock
        options for executive officers totaling 2.0 million, with a range of exercise
        prices of $19.53 to $39.85 and a weighted average exercise price of $34.23.
        The
        stock options held by the independent directors of the Company are not impacted.
        Options issued on or prior to December 31, 2002, are fully vested as of December
        31, 2005, under the normal three-year vesting period for options and therefore
        are not affected by the acceleration of vesting.
In
        addition to the acceleration of the vesting date, the terms and conditions
        of
        the stock option agreements governing the stock options were changed to prohibit
        transfers (including sales, gifts, pledges or other transfers of any kind)
        of
        any shares acquired through the exercise of these accelerated options until
        the
        earlier of (i) the original vesting date of the option or (ii) termination
        of
        employment, retirement, death or disability. In addition, in order to effectuate
        the acceleration, the Incentive Stock Plan of 1998 was amended effective
        December 31, 2005, to eliminate the provision requiring one year of employment
        before options can be exercised. A copy of the amendment is attached hereto
        as
        Exhibit 4.1.
Typically,
        the Company grants stock options that vest ratably over a three-year period.
        The
        Company has been using a method in its pro forma footnote disclosure that
        recognizes retirement-eligible employees' option compensation expense over the
        normal vesting period until the employee retires. Upon retirement, the
        compensation expense is fully recognized in the pro forma footnote disclosure.
        After adoption of SFAS 123 (R) on January 1, 2006, compensation expense for
        options issued prior to adoption will be calculated using the same method
        employed in the prior pro forma footnote disclosure. However, this compensation
        expense will be recognized in the income statement. For options issued
        subsequent to January 1, 2006, compensation expense will be recognized in
        the
        income statement using the method prescribed by the new pronouncement.
        Therefore, the total compensation expense associated with options issued
        after
        January 1, 2006, to retirement-eligible employees will be recognized immediately
        in the income statement.
The
        accelerated vesting enables the Company to eliminate the need to apply two
        different methodologies in calculating compensation expense on a going-forward
        basis. In addition, as a result of this action, the aggregate pretax expense
        that would have been reflected in the Company's consolidated financial
        statements in future fiscal years will be reduced by $67.8 million ($41.2
        million, $24.4 million, and $2.2 million in 2006, 2007, and 2008, respectively)
        or $41.9 million after tax. As a result of the accelerated vesting, this
        total
        amount will instead be included in the pro forma footnote disclosure in 2005.
Item
        8.01. Other Events.
Equity-Based
        Savings Plans
The
        number of the Company's Class A common shares available for issuance under the
        Registration Statement filed on Form S-8 (Registration No. 333-42133) on
        December 12, 1997, which relates to certain of the Company's equity-based
        savings plans, increased by 6,100,000 shares as a result of the two-for-one
        split of the Company's Class A common shares on September 1, 2005.
Item
        9.01. Financial Statements and Exhibits.
(c)  
        Exhibits
The
        following exhibit is included herewith:
Exhibit
                  No.
Description
4.1
Amendment
                  to the Ingersoll-Rand Company Limited Amended and Restated Incentive
                  Stock
                  Plan of 1998, dated December 7,
                  2005.
SIGNATURES
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.
INGERSOLL-RAND
                COMPANY LIMITED
(
Registrant
)
Date: December
                9, 2005
By:
/s/ Patricia
                Nachtigal
Patricia
                Nachtigal
Senior
                Vice President and General Counsel