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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>
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              <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>FORM
                8-K</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
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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>CURRENT
                REPORT</strong></font></div>
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            <td colspan="3" valign="top" width="72%">&#160;</td>
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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>Pursuant
                to Section 13 or 15 (d) of the Securities Exchange Act of
                1934</strong></font></div>
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            <td colspan="3" valign="top" width="72%">&#160;</td>
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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="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>
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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><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>
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            <td colspan="3" valign="top" width="72%">&#160;</td>
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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>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>
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            <td valign="top" width="24%">
              <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>
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            <td valign="top" width="24%">
              <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>
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              <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>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>
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          <tr>
            <td colspan="3" valign="top" width="72%">&#160;</td>
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          <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"><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="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>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>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
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            <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"><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="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">[]&#160;&#160;&#160;&#160;
                </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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">[]&#160;&#160;&#160;&#160;
                </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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">[]&#160;&#160;&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
                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">[]&#160;&#160;&#160;&#160;
                </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
                communications pursuant to Rule 13e-4(c) under the Exchange Act (17
                CFR
                240.13e-4(c))</font></div>
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    <div>&#160;</div>
    <div>&#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"><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="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"><u>Salaries
      of Certain Executive Officers</u></font></div>
    <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">On
      February 1, 2006, the Compensation Committee (the &#8220;Compensation Committee&#8221;) of
      the Board of Directors of Ingersoll-Rand Company Limited (the &#8220;Company&#8221;)
      approved an increase in the base annual salary of Michael W. Lamach, Senior
      Vice
      President and President of the Company's Security Technologies Sector, from
      $470,000 to $490,000, effective February 1, 2006, 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="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">On
      February 1, 2006, the Compensation Committee approved an increase in the base
      annual salary of Patricia Nachtigal, Senior Vice President and General Counsel
      of the Company, from $450,000 to $470,000, effective February 1, 2006, 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="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"><u>2005
      Incentive Compensation for Named Executive Officers</u></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">On
      February 1, 2006, the Compensation Committee approved the 2005 annual incentive
      compensation awards (payable in February 2006) for the Company&#8217;s Named Executive
      Officers (Messrs. Henkel, McLevish, Lamach and Vasiloff and Ms. Nachtigal)
      under
      the Company&#8217;s Annual Incentive Matrix (&#8220;AIM&#8221;) Bonus Program, the Stock Option
      Program under the Company&#8217;s Incentive Stock Plan and the Performance Share
      Program. Those compensation plans, as in effect for 2005, are described in
      detail in the Company&#8217;s Proxy Statement on Schedule 14A filed with the
      Commission on April 19, 2005. The 2005 compensation awards were as
      follows:</font></div>
    <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>AIM
      Bonus Program</strong></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">On
      February 1, 2006, the Compensation Committee approved the following annual
      incentive awards under the AIM Bonus Program for the Named Executive
      Officers:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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        <table bgcolor="white" cellpadding="0" cellspacing="0" width="50%">

            <tr bgcolor="#ccfacc">
              <td width="50%"><font size="2">H. L. Henkel</font></td>
              <td width="50%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font size="2">$3,000,000</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td width="50%"><font size="2">Chairman of the Board,</font></td>
              <td width="50%">&#160;</td>
            </tr>
            <tr bgcolor="#ccfacc">
              <td width="50%"><font size="2">President and Chief</font></td>
              <td width="50%">&#160;</td>
            </tr>
            <tr bgcolor="white">
              <td width="50%"><font size="2">Executive Officer</font></td>
              <td width="50%">&#160;</td>
            </tr>

        </table>
      </div><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font></div>
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        </div>
      </div>
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        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <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">&#160;</div>
    <div align="left">
      <table bgcolor="white" cellpadding="0" cellspacing="0" width="50%">

          <tr bgcolor="#ccfacc">
            <td width="50%"><font size="2">T. R. McLevish</font></td>
            <td width="50%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$525,100</font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="50%"><font size="2">Senior Vice President</font></td>
            <td width="50%">&#160;</td>
          </tr>
          <tr bgcolor="#ccfacc">
            <td width="50%"><font size="2">and Chief Financial</font></td>
            <td width="50%">&#160;</td>
          </tr>
          <tr bgcolor="white">
            <td width="50%"><font size="2">Officer</font></td>
            <td width="50%">&#160;</td>
          </tr>
          <tr bgcolor="white">
            <td width="50%">&#160;</td>
            <td width="50%">&#160;</td>
          </tr>
          <tr bgcolor="#ccfacc">
            <td width="50%"><font size="2">M.W. Lamach</font></td>
            <td width="50%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font size="2">$444,600</font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Senior
              Vice President</font></td>
            <td width="50%">&#160;</td>
          </tr>
          <tr bgcolor="white">
            <td width="50%">&#160;</td>
            <td width="50%">&#160;</td>
          </tr>
          <tr bgcolor="#ccfacc">
            <td width="50%"><font size="2">P. Nachtigal</font></td>
            <td width="50%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font size="2">$353,500</font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="50%"><font size="2">Senior Vice President</font></td>
            <td width="50%">&#160;</td>
          </tr>
          <tr bgcolor="#ccfacc">
            <td width="50%"><font size="2">and General Counsel</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font></td>
            <td width="50%">&#160;</td>
          </tr>
          <tr bgcolor="white">
            <td width="50%">&#160;</td>
            <td width="50%">&#160;</td>
          </tr>
          <tr bgcolor="#ccfacc">
            <td width="50%"><font size="2">C.P.Vasiloff</font></td>
            <td width="50%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$100,200</font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="50%"><font size="2">Senior Vice President</font></td>
            <td width="50%">&#160;</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>
    <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>Stock
      Option Program</strong></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">On
      December 7, 2005, the Compensation Committee changed the stock option program
      target award levels for certain of the Named Executive Officers to reflect
      current market pay rates, taking into account the </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">two-for-one
      split of the Company&#8217;s Class A common shares consummated on September 1, 2005,
      as follows:</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 id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>
      <div align="left">
        <table border="0" cellpadding="0" cellspacing="0" width="50%">

            <tr>
              <td align="left" valign="top" width="10%" style="border-bottom: medium none;">&#160;</td>
              <td align="left" valign="top" width="9%" style="border-bottom: medium none;">&#160;</td>
              <td align="left" valign="top" width="10%" style="border-bottom: medium none;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Pre&#160;2-for-1</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;<u>Stock
                  Split </u></strong></font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: medium none;">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: medium none;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Post&#160;2-for-1</strong></font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>&#160;Stock
                    Split </u></strong></font></div>
                </div>
              </td>
            </tr>
            <tr bgcolor="#ccfacc">
              <td align="left" valign="top" width="10%" style="border-bottom: #ccfacc;">
                <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">Mr.
                  Henkel</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: #ccfacc;">&#160;</td>
              <td align="left" valign="top" width="10%" style="border-bottom: #ccfacc;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">150,000</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: #ccfacc;">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: #ccfacc;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">225,000</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="10%" style="border-bottom: white;">
                <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">Mr.
                  McLevish</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: white;">&#160;</td>
              <td align="left" valign="top" width="10%" style="border-bottom: white;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">50,000</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: white;">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: white;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">60,000</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccfacc">
              <td align="left" valign="top" width="10%" style="border-bottom: #ccfacc;">
                <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">Mr.
                  Lamach</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: #ccfacc;">&#160;</td>
              <td align="left" valign="top" width="10%" style="border-bottom: #ccfacc;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">45,000</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: #ccfacc;">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: #ccfacc;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">45,000</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="10%" style="border-bottom: white;">
                <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">Ms.
                  Nachtigal</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: white;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: white;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">37,000</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: white;">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: white;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">40,000</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccfacc">
              <td align="left" valign="top" width="10%" style="border-bottom: #ccfacc;">
                <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">Mr.
                  Vasiloff</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: #ccfacc;">&#160;</td>
              <td align="left" valign="top" width="10%" style="border-bottom: #ccfacc;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">42,000</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: #ccfacc;">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: #ccfacc;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">45,000</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div align="left">&#160;</div>
      <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        stock
        option awards granted on February 1, 2006 by the Compensation Committee for
        2005, which are listed below, are based on the revised target award levels
        and
        the achieved performance objectives of the Company:</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div align="left">
      <table bgcolor="white" cellpadding="0" cellspacing="0" width="70%">

          <tr bgcolor="#ccfacc">
            <td width="25%"><font size="2">Mr. Henkel</font></td>
            <td width="33%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;<font size="2">263,700
                options at exercise price of
                $39.425 per share</font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="25%"><font size="2">Mr. McLevish</font></td>
            <td width="33%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;<font size="2">
                70,320 options at exercise price of
                $39.425 per share</font></div>
            </td>
          </tr>
          <tr bgcolor="#ccfacc">
            <td width="25%"><font size="2">Mr. Lamach</font></td>
            <td width="33%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;<font size="2">52,740
                options at exercise price of $39.425
                per share</font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="25%"><font size="2">Ms. Nachtigal</font></td>
            <td width="33%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;<font size="2">
                46,880 options at exercise price of
                $39.425 per share</font></div>
            </td>
          </tr>
          <tr bgcolor="#ccfacc">
            <td width="25%"><font size="2">Mr. Vasiloff</font></td>
            <td width="33%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
                52,740 options at exercise price of $39.425 per
                share</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </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"><strong>Performance
      Share Program</strong></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">On
      February 1, 2006, the Compensation Committee approved the following awards
      under
      the Performance Share Program for the Named Executive Officers:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div align="left">
      <table bgcolor="white" cellpadding="0" cellspacing="0" width="50%">

          <tr bgcolor="#ccfacc">
            <td width="33%">&#160;<font size="2">Mr. Henkel</font></td>
            <td width="33%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$5,479,365</font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="33%">&#160;<font size="2">Mr. McLevish</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font></td>
            <td width="33%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$986,256</font></div>
            </td>
          </tr>
          <tr bgcolor="#ccfacc">
            <td width="33%">&#160;<font size="2">Mr. Lamach</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font></td>
            <td width="33%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$657,530</font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="33%">&#160;<font size="2">Ms. Nachtigal</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font></td>
            <td width="33%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;<font size="2">$657,530</font></div>
            </td>
          </tr>
          <tr bgcolor="#ccfacc">
            <td width="33%">&#160;<font size="2">Mr. Vasiloff</font></td>
            <td width="33%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;<font size="2">$986,256</font></div>
            </td>
          </tr>

      </table>
    </div>
    <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"><u>2006
      Incentive Compensation Arrangements for Named Executive
      Officers</u></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">On
      December 7, 2005, the Compensation Committee approved the terms of the AIM
      Bonus
      Program, Stock Option Program and Performance Share Program for 2006 (payable
      in
      February 2007) for the Named Executive Officers. </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="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Compensation Committee approved a change in Mr. Henkel&#8217;s target bonus percentage
      under the Company&#8217;s AIM Bonus Program from 150% of his base salary to 175% of
      his base salary. The target bonus guidelines of Messrs. McLevish, Lamach and
      Vasiloff and Ms. Nachtigal remained unchanged at 90%, 90%, 90% and 70%,
      respectively.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></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">The
      stock
      option target award levels for the Named Executive Officers for 2006 remained
      unchanged from the revised 2005 levels disclosed above.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></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">The
      Compensation Committee approved&#160;changes in the target number of common
      share equivalents under the Performance Share Program for all of the Named
      Executive Officers to reflect current market pay rates, taking into account
      the
      two-for-one stock split. In addition, the target number of common share
      equivalents under the Performance Share Program was changed for the Named
      Executive Officers as follows:</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">
      <div align="left">
        <table border="0" cellpadding="0" cellspacing="0" width="50%">

            <tr>
              <td align="left" valign="top" width="10%" style="border-bottom: medium none;">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: medium none;">&#160;</td>
              <td align="left" valign="top" width="10%" style="border-bottom: medium none;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Pre&#160;2-for-1</strong></font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>&#160;Stock
                    Split </u></strong></font></div>
                </div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: medium none;">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: medium none;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Post&#160;2-for-1</strong></font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>&#160;Stock
                      Split </u></strong></font></div>
                  </div>
                </div>
              </td>
            </tr>
            <tr bgcolor="#ccfacc">
              <td align="left" valign="top" width="10%" style="border-bottom: #ccfacc;">
                <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">Mr.
                  Henkel</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: #ccfacc;">&#160;</td>
              <td align="left" valign="top" width="10%" style="border-bottom: #ccfacc;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">50,000</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: #ccfacc;">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: #ccfacc;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">100,000</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="10%" style="border-bottom: white;">
                <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">Mr.
                  McLevish</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: white;">&#160;</td>
              <td align="left" valign="top" width="10%" style="border-bottom: white;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9,000</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: white;">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: white;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">18,000</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccfacc">
              <td align="left" valign="top" width="10%" style="border-bottom: #ccfacc;">
                <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">Mr.
                  Lamach</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: #ccfacc;">&#160;</td>
              <td align="left" valign="top" width="10%" style="border-bottom: #ccfacc;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6,000</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: #ccfacc;">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: #ccfacc;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">12,000</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="top" width="10%" style="border-bottom: white;">
                <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">Ms.
                  Nachtigal</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: white;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: white;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6,000</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: white;">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: white;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">12,000</font></div>
              </td>
            </tr>
            <tr bgcolor="#ccfacc">
              <td align="left" valign="top" width="10%" style="border-bottom: #ccfacc;">
                <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">Mr.
                  Vasiloff</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: #ccfacc;">&#160;</td>
              <td align="left" valign="top" width="10%" style="border-bottom: #ccfacc;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9,000</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: #ccfacc;">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: #ccfacc;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">12,000</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Compensation Committee reduced the maximum performance-based award opportunity
        from 225% to 200% of the target number of common share equivalents.
</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </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">The
      Compensation Committee approved a change in the annual performance metrics
      for
      2006 under the Performance Share Program for Messrs. McLevish, Lamach and
      Vasiloff and Ms. Nachtigal that results in basing their target award solely
      on
      enterprise financial objectives rather than a combination of those financial
      objectives and strategic objectives. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><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"><u>Elected
      Officers Supplemental Plan</u></font></div>
    <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">In
      light
      of the American Jobs Creation Act of 2004 ("AJCA"), pursuant to authority
      previously granted by the Compensation Committee to management on December
      1,
      2004, (i) the Company&#8217;s Elected Officers Supplemental Plan ("EOSP") was amended
      to freeze any further accruals under the EOSP effective December 31, 2004 and
      (ii) a new Elected Officers Supplemental Plan ("EOSP II") was established,
      effective January 1, 2005.</font></div>
    <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">The
      AJCA
      applies to deferred compensation that is earned and vested after December 31,
      2004.&#160; Under the amendment, the EOSP no longer permits any accruals that
      are subject to the AJCA and any accruals that would have been made under the
      EOSP that are subject to the AJCA will instead be made under the EOSP II.&#160;
In addition, any accruals that were previously made under the EOSP that are
      subject to the AJCA will instead be provided under the EOSP II. </font></div>
    <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">The
      other
      terms and provisions of the EOSP II are substantially similar to those of the
      EOSP, except that effective February 1, 2006, the definition of &#8220;final average
      pay&#8221; has been revised from the sum of (i) annualized base salary plus (ii) the
      average of the five highest annual bonus awards (under the AIM Bonus Program)
      to
      an individual during the most recent six years to the sum of (x) annualized
      base
      salary plus (y) the average of the three highest annual bonus awards (under
      the
      AIM Bonus Program) to an individual during the most recent six
      years.</font></div>
    <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
      5.02. Departure of Directors or Principal Officers; Election of Directors;
      Appointment of Principal Officers</strong></font></div>
    <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">On
      February 1, 2006, George W. Buckley informed the Board of Directors of the
      Company of his decision not to stand for re-election to the Board of Directors
      after his current term, which expires at the 2006 Annual General Meeting of
      Shareholders. Mr.&#160;Buckley&#8217;s decision was made in connection with his
      appointment as Chairman of the Board, Chief Executive Officer and President
      of
      3M&#160;Company and the increased demands on his time as a result of the
      appointment. Mr. Buckley also serves as a member of the Company&#8217;s Audit
      Committee and Finance Committee. </font></div>
    <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">In
      addition, the Board of Directors unanimously approved a decrease in the size
      of
      the Company&#8217;s Board of Directors from eleven (11) to ten (10) members, effective
      as of the date of the 2006 Annual General Meeting of
      Shareholders.</font></div><br>
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      </div>
    </div>
    <div>&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><strong><font size="2">SIGNATURES&#160;</font></strong></div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <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">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.</font></div>
    </div>
    <div>&#160;</div>
    <div>
      <table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

          <tr valign="top" bgcolor="#ffffff">
            <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td colspan="2" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td colspan="2">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>INGERSOLL-RAND
                COMPANY LIMITED</strong></font></div>
              <div><font size="2"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;(<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>
            </td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
            <td colspan="2" width="0">&#160;</td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:&#160;February
              7, 2006<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font></font></td>
            <td colspan="2" width="0"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u><strong>&#160;/s/&#160;&#160;Patricia
              Nachtigal</strong></u></font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td>&#160;</td>
            <td colspan="2" width="0">&#160;<font size="2">Patricia Nachtigal</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td>&#160;</td>
            <td colspan="2" width="0">&#160;<font size="2">Senior Vice President and
              General
              Counsel</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td>&#160;</td>
            <td colspan="2" width="0">&#160;</td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td>&#160;</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": "06585935"}, "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"}}
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:
[]
Written
                communications pursuant to Rule 425 under the Securities Act (17
                CFR
                230.425)
[]
Soliciting
                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                240.14a-12)
[]
Pre-commencement communications pursuant to Rule 14d-2(b) under the
                Exchange Act (17 CFR 240.14d-2(b))
[]
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
Salaries
      of Certain Executive Officers
On
      February 1, 2006, the Compensation Committee (the "Compensation Committee") of
      the Board of Directors of Ingersoll-Rand Company Limited (the "Company")
      approved an increase in the base annual salary of Michael W. Lamach, Senior
      Vice
      President and President of the Company's Security Technologies Sector, from
      $470,000 to $490,000, effective February 1, 2006, after a review of performance
      and competitive market data.
On
      February 1, 2006, the Compensation Committee approved an increase in the base
      annual salary of Patricia Nachtigal, Senior Vice President and General Counsel
      of the Company, from $450,000 to $470,000, effective February 1, 2006, after
      a
      review of performance and competitive market data.
2005
      Incentive Compensation for Named Executive Officers
On
      February 1, 2006, the Compensation Committee approved the 2005 annual incentive
      compensation awards (payable in February 2006) for the Company's Named Executive
      Officers (Messrs. Henkel, McLevish, Lamach and Vasiloff and Ms. Nachtigal)
      under
      the Company's Annual Incentive Matrix ("AIM") Bonus Program, the Stock Option
      Program under the Company's Incentive Stock Plan and the Performance Share
      Program. Those compensation plans, as in effect for 2005, are described in
      detail in the Company's Proxy Statement on Schedule 14A filed with the
      Commission on April 19, 2005. The 2005 compensation awards were as
      follows:
AIM
      Bonus Program
On
      February 1, 2006, the Compensation Committee approved the following annual
      incentive awards under the AIM Bonus Program for the Named Executive
      Officers:
H. L. Henkel
$3,000,000
Chairman of the Board,
President and Chief
Executive Officer
T. R. McLevish
$525,100
Senior Vice President
and Chief Financial
Officer
M.W. Lamach
$444,600
Senior
              Vice President
P. Nachtigal
$353,500
Senior Vice President
and General Counsel
C.P.Vasiloff
$100,200
Senior Vice President
Stock
      Option Program
On
      December 7, 2005, the Compensation Committee changed the stock option program
      target award levels for certain of the Named Executive Officers to reflect
      current market pay rates, taking into account the
two-for-one
      split of the Company's Class A common shares consummated on September 1, 2005,
      as follows:
Pre 2-for-1
Stock
                  Split
Post 2-for-1
Stock
                    Split
Mr.
                  Henkel
150,000
225,000
Mr.
                  McLevish
50,000
60,000
Mr.
                  Lamach
45,000
45,000
Ms.
                  Nachtigal
37,000
40,000
Mr.
                  Vasiloff
42,000
45,000
The
        stock
        option awards granted on February 1, 2006 by the Compensation Committee for
        2005, which are listed below, are based on the revised target award levels
        and
        the achieved performance objectives of the Company:
Mr. Henkel
263,700
                options at exercise price of
                $39.425 per share
Mr. McLevish
70,320 options at exercise price of
                $39.425 per share
Mr. Lamach
52,740
                options at exercise price of $39.425
                per share
Ms. Nachtigal
46,880 options at exercise price of
                $39.425 per share
Mr. Vasiloff
52,740 options at exercise price of $39.425 per
                share
Performance
      Share Program
On
      February 1, 2006, the Compensation Committee approved the following awards
      under
      the Performance Share Program for the Named Executive Officers:
Mr. Henkel
$5,479,365
Mr. McLevish
$986,256
Mr. Lamach
$657,530
Ms. Nachtigal
$657,530
Mr. Vasiloff
$986,256
2006
      Incentive Compensation Arrangements for Named Executive
      Officers
On
      December 7, 2005, the Compensation Committee approved the terms of the AIM
      Bonus
      Program, Stock Option Program and Performance Share Program for 2006 (payable
      in
      February 2007) for the Named Executive Officers.
The
      Compensation Committee approved a change in Mr. Henkel's target bonus percentage
      under the Company's AIM Bonus Program from 150% of his base salary to 175% of
      his base salary. The target bonus guidelines of Messrs. McLevish, Lamach and
      Vasiloff and Ms. Nachtigal remained unchanged at 90%, 90%, 90% and 70%,
      respectively.
The
      stock
      option target award levels for the Named Executive Officers for 2006 remained
      unchanged from the revised 2005 levels disclosed above.
The
      Compensation Committee approved changes in the target number of common
      share equivalents under the Performance Share Program for all of the Named
      Executive Officers to reflect current market pay rates, taking into account
      the
      two-for-one stock split. In addition, the target number of common share
      equivalents under the Performance Share Program was changed for the Named
      Executive Officers as follows:
Pre 2-for-1
Stock
                    Split
Post 2-for-1
Stock
                      Split
Mr.
                  Henkel
50,000
100,000
Mr.
                  McLevish
9,000
18,000
Mr.
                  Lamach
6,000
12,000
Ms.
                  Nachtigal
6,000
12,000
Mr.
                  Vasiloff
9,000
12,000
The
        Compensation Committee reduced the maximum performance-based award opportunity
        from 225% to 200% of the target number of common share equivalents.
The
      Compensation Committee approved a change in the annual performance metrics
      for
      2006 under the Performance Share Program for Messrs. McLevish, Lamach and
      Vasiloff and Ms. Nachtigal that results in basing their target award solely
      on
      enterprise financial objectives rather than a combination of those financial
      objectives and strategic objectives.
Elected
      Officers Supplemental Plan
In
      light
      of the American Jobs Creation Act of 2004 ("AJCA"), pursuant to authority
      previously granted by the Compensation Committee to management on December
      1,
      2004, (i) the Company's Elected Officers Supplemental Plan ("EOSP") was amended
      to freeze any further accruals under the EOSP effective December 31, 2004 and
      (ii) a new Elected Officers Supplemental Plan ("EOSP II") was established,
      effective January 1, 2005.
The
      AJCA
      applies to deferred compensation that is earned and vested after December 31,
      2004.  Under the amendment, the EOSP no longer permits any accruals that
      are subject to the AJCA and any accruals that would have been made under the
      EOSP that are subject to the AJCA will instead be made under the EOSP II. 
In addition, any accruals that were previously made under the EOSP that are
      subject to the AJCA will instead be provided under the EOSP II.
The
      other
      terms and provisions of the EOSP II are substantially similar to those of the
      EOSP, except that effective February 1, 2006, the definition of "final average
      pay" has been revised from the sum of (i) annualized base salary plus (ii) the
      average of the five highest annual bonus awards (under the AIM Bonus Program)
      to
      an individual during the most recent six years to the sum of (x) annualized
      base
      salary plus (y) the average of the three highest annual bonus awards (under
      the
      AIM Bonus Program) to an individual during the most recent six
      years.
Item
      5.02. Departure of Directors or Principal Officers; Election of Directors;
      Appointment of Principal Officers
On
      February 1, 2006, George W. Buckley informed the Board of Directors of the
      Company of his decision not to stand for re-election to the Board of Directors
      after his current term, which expires at the 2006 Annual General Meeting of
      Shareholders. Mr. Buckley's decision was made in connection with his
      appointment as Chairman of the Board, Chief Executive Officer and President
      of
      3M Company and the increased demands on his time as a result of the
      appointment. Mr. Buckley also serves as a member of the Company's Audit
      Committee and Finance Committee.
In
      addition, the Board of Directors unanimously approved a decrease in the size
      of
      the Company's Board of Directors from eleven (11) to ten (10) members, effective
      as of the date of the 2006 Annual General Meeting of
      Shareholders.
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: February
              7, 2006
/s/  Patricia
              Nachtigal
Patricia Nachtigal
Senior Vice President and
              General
              Counsel