Document:

Exhibit 10.35

  

 CIT Group Inc. 

  Long-Term Incentive Plan 

  Stock Option Award Agreement

 “Participant”:

 “Date of Award”:

      This Award Agreement, effective as of the Date of Award set forth above, represents the grant of Options by CIT Group Inc., a Delaware corporation (the “Company”), to the Participant named above, pursuant to the provisions of the CIT Group Inc. Long-Term Incentive Plan (the “Plan”). All capitalized terms shall have the meanings ascribed to them in the Plan, unless specifically set forth otherwise herein.

      The parties hereto
  agree as follows:

					
	     	 (A)	 Grant of Stock Options. The
      Company hereby grants to the Participant Options to purchase Shares in the
      manner and subject to the terms and conditions of the Plan and this Award
      Agreement as follows:
	  
	 	  	 (1)	 Number of Options granted:
	  
	 	  	 (2)	 “Option Price”:
	  
	 	  	 (3)	 “Option Term”: The Options
      shall have a term of seven (7) years ending on the seventh (7th) anniversary
      of the Date of Award.
	  
	 	 (B)	 Vesting and Exercise of Options.
	  
	 	  	 (1)	 Subject to Section (E) of this Award Agreement,
      Options do not provide the Participant with any rights or interests therein
      until they vest and become exercisable in accordance with the following:
	  
	 	  	  	 (a)	 One hundred percent (100%) of the Options will vest in full
      and become exercisable on the first anniversary of the Date of Award.
	  
	 	  	  	 (b)	 Any Options not previously vested in accordance with Section
      (B)(1)(a) shall vest and become exercisable as of the date of the Participant’s
      termination of membership on the Board due to death, Disability or an Approved
      Departure.
	  
	 	  	 (2)	 Options which have not vested and become exercisable
      at the time of the Participant’s termination of membership on the Board
      (for any reason other than death, Disability or an Approved Departure) shall
      terminate immediately and be of no further force or effect.
	  
	 	  	 (3)	 Upon vesting, the Options will remain exercisable
      until they terminate in accordance with Section D below.
	  
	 	  	 For the purposes of this Award Agreement, “Disability”
      shall be defined as a physical or mental impairment sufficient to make a
      Participant unable to perform the services required of a member of the Board,
      as determined by the Committee. “Approved  Departure”
      shall be defined as a termination of the Participant’s membership on
      the Board, including a resignation from the Board by the Participant or
      a Participant not standing for re-election to the Board, provided that such
      termination is approved in

				
	     	  	 advance by the Board. Notwithstanding the foregoing,
      a termination resulting from (i) the Participant’s willful and continued
      failure to substantially perform his or her duties as a member of the Board,
      (ii) an act of fraud or an intentional misrepresentation by the Participant
      or (iii) the Participant’s commission of a felony, in each such case,
      as determined by the Board in its sole discretion, shall not constitute
      an Approved Departure.
	  
	 	 (C)	 How to Exercise an Option.
	  
	 	  	 (1)	 The Options may be exercised by telephone or written notice
      to the Company’s stock plan administrator, currently Smith Barney (“Administrator”),
      specifying the number of Shares the Participant then desires to purchase,
      which may not be fewer than twenty-five (25). Except as provided in Section
      (C)(2) below, a Participant must send a check payable to the order of the
      Administrator for an amount in United States dollars equal to the Option
      Price of such Shares plus any fees or, if the Committee permits, Shares
      having an aggregate Fair Market Value (as of the trading date immediately
      preceding the date of exercise) equal to such Option Price which have been
      held by the Participant for at least six (6) months, or a combination of
      cash and such Shares. The Committee reserves the right to modify the exercise
      procedures from time to time.
	  
	 	  	 (2)	 Subject to the approval of the Committee and applicable securities
      laws, the Participant may be permitted to exercise the Options pursuant
      to a “cashless exercise” procedure, as permitted under Federal
      Reserve Board’s Regulation T, or by any other means which the Committee,
      in its discretion, determines to be consistent with the Plan’s purpose
      and applicable law.
	  
	 	  	 (3)	 As soon as practicable after receipt of such written notification
      and payment, Share certificates shall be issued in the Participant’s
      name. The Company and the Administrator shall maintain a record of all information
      pertaining to the Participant’s rights under this Award Agreement.
	  
	 	 (D)	 Termination of Options. The Options,
      which have vested and become exercisable as provided in Section (B), shall
      terminate and be of no force or effect as follows:
	  
	 	  	 (1)	 If the Participant’s membership on the Board terminates
      during the Option Term by reason of the death or Disability of the Participant,
      the Options terminate and have no further force or effect upon the earlier
      of (i) three (3) years after the date of the Participant’s death
      or Disability and (ii) the expiration of the Option Term.
	  
	 	  	 (2)	 If the Participant’s membership on the Board terminates
      during the Option Term 
	  
	 	  	 (3)	 If the Participant’s membership on the Board of Directors
      terminates during the Option Term for any reason other than death, Disability
      or an Approved Departure, the Options will terminate and have no further
      force or effect upon the earlier of (i) the expiration of three (3)
      months after the termination event or (ii) the expiration of the Option
      Term.
	  
	 	  	 (4)	 If the Participant continues as a member of the Board through
      the Option Term, the Options terminate and have no further force or effect
      as of the expiration of the Option Term.
	  
	 	 (E)	 Change of Control. Notwithstanding
      any provision contained in the Plan or this Award Agreement to the contrary,
      upon a Change of Control prior to the termination of the Participant’s
      membership on the Board, all Options that have not been terminated prior
      to 

 2

				
	     	  	 the effective date of the Change of Control shall
      immediately vest and become exercisable and shall remain exercisable until
      the earlier of (i) the expiration of the Option Term and (ii) the
      second anniversary of the Participant’s termination of membership on
      the Board.
	  
	 	 (F)	 Rights as Stockholder. The Participant
      shall have no rights as a stockholder with respect to Shares subject to
      the Options (including voting rights) until such time that the Option Price
      has been paid in full and the Shares have been issued and delivered to the
      Participant. No adjustment shall be made for dividends or other rights for
      which the record date is prior to such date, except as provided in Section
      13 of the Plan. 
	  
	 	 (G)	 Transferability. The Options are not
      transferable other than by last will and testament, by the laws of descent
      and distribution pursuant to a domestic relations order, or as otherwise
      permitted under Section 12 of the Plan. Further, except as set forth in
      Section 12(b) of the Plan, during the Participant’s lifetime, the Options
      shall be exercisable only by the Participant, or in the event of the Participant’s
      legal incapacity, the Participant’s legal guardian or representative.
	  
	 	 (H)	 Miscellaneous
	  
	 	  	 (1)	 The Plan provides a complete description of the terms and
      conditions governing all Awards granted thereunder. This Award Agreement
      and the rights of the Participant hereunder are subject to the terms and
      conditions of the Plan, as amended from time to time, and to such rules
      and regulations as the Committee may adopt under the Plan. If there is any
      inconsistency between the terms of this Award Agreement and the terms of
      the Plan, the Plan’s terms shall completely supersede and replace the
      conflicting terms of this Award Agreement.
	  
	 	  	 (2)	 The Committee shall have the right to impose such restrictions
      on any Shares acquired pursuant to the exercise of the Option as it deems
      necessary or advisable under applicable federal securities laws, the rules
      and regulations of any stock exchange or market upon which such Shares are
      then listed or traded, and/or any blue sky or state securities laws applicable
      to such Shares. It is expressly understood that the Committee is authorized
      to administer, construe, and make all determinations necessary or appropriate
      to the administration of the Plan and this Award Agreement, all of which
      shall be binding upon the Participant.
	  
	 	  	 (3)	 The Board may at any time, or from time to time, terminate,
      amend, modify or suspend the Plan, and the Board or the Committee may amend
      or modify this Award Agreement at any time; provided, however,
      that no termination, amendment, modification or suspension shall materially
      and adversely alter or impair the rights of the Participant under this Award
      Agreement, without the Participant’s written consent.
	  
	 	  	 (4)	 As the Option Price is equal to the Fair Market Value of a
      Share, the Options are intended to be exempt from Section 409A of the Code
      and the regulations and guidance promulgated thereunder (“Section
      409A”). Notwithstanding the forgoing or any provision of the
      Plan or this Award Agreement, if any provision of this Award Agreement or
      the Plan contravenes Section 409A or could cause the Participant to incur
      any tax, interest or penalties under Section 409A, the Committee may, in
      its sole discretion and without the Participant’s consent, modify such
      provision to (i) comply with, or avoid being subject to, Section 409A, or
      to avoid the incurrence of taxes, interest and penalties under Section 409A,
      and/or (ii) maintain, to the maximum extent practicable, the original intent
      and economic benefit to the Participant of the applicable provision without
      materially increasing the cost to the Company or contravening the provisions
      of Section

 3

				
	   	  	  	 409A. This Section H(4) does not create an obligation on the
      part of the Company to modify the Plan or this Award Agreement and does
      not guarantee that the Options will not be subject to interest and penalties
      under Section 409A. 
	  
	 	  	 (5)	 Delivery of the Shares underlying the Options upon exercise
      will be subject to the Participant satisfying any applicable federal, state,
      local and foreign tax withholding obligations. The Company shall have the
      power and the right to deduct or withhold from all amounts payable to the
      Participant in connection with the Options, or otherwise, or require the
      Participant to remit to the Company, an amount sufficient to satisfy any
      applicable taxes required by law. Further, the Company may permit or require
      the Participant to satisfy, in whole or in part, the tax obligations by
      withholding Shares that would otherwise be received upon exercise of the
      Options.
	  
	 	  	 (6)	 This Award Agreement shall be subject to all applicable laws,
      rules, and regulations, and to such approvals by any governmental agencies
      or national securities exchanges as may be required, or as the Committee
      determines are advisable. The Participant agrees to take all steps the Company
      determines are necessary to comply with all applicable provisions of federal
      and state securities law in exercising his or her rights under this Award
      Agreement.
	  
	 	  	 (7)	 All obligations of the Company under the Plan and this Award
      Agreement, with respect to the Awards, shall be binding on any successor
      to the Company, whether the existence of such successor is the result of
      a direct or indirect purchase, merger, consolidation, or otherwise, of all
      or substantially all of the business and/or assets of the Company.
	  
	 	  	 (8)	 To the extent not preempted by federal law, this Award Agreement
      shall be governed by, and construed in accordance with, the laws of the
      State of Delaware.
	  
	 	 (I)	 Acceptance of Award. Acceptance of
      this Award requires no action on the part of the Participant and the Participant
      will be deemed to have agreed to all terms and conditions hereof. If the
      Participant, however, desires to refuse the Award, the Participant must
      notify the Company in writing. Such notification should be sent to CIT Group
      Inc., Human Resources Department, 1 CIT Drive, Livingston, New Jersey 07039,
      no later than thirty (30) days after receipt of this Award Agreement.

      IN WITNESS WHEREOF, this Award Agreement has been executed by the Company by one of its duly authorized officers as of the Date of Award.

 CIT Group Inc.

 4Exhibit 10.36

 CIT Group Inc.

  Long-Term Incentive Plan

  Stock Option Award Agreement

“Participant”:

“Date of Award”:

      This Award Agreement, effective as of the Date of Award set forth above, represents the grant of Options by CIT Group Inc., a Delaware corporation (the “Company”), to the Participant named above, pursuant to the provisions of the Amended and Restated CIT Group Inc. Long-Term Incentive Plan (the “Plan”). All capitalized terms shall have the meanings ascribed to them in the Plan, unless specifically set forth otherwise herein.

      The parties hereto
  agree as follows:

					
	     	 (A)	 Grant of Stock Options. The
      Company hereby grants to the Participant Options to purchase Shares in the
      manner and subject to the terms and conditions of the Plan and this Award
      Agreement as follows:
	  
	 	  	 (1)	 Number of Options granted:
	  
	 	  	 (2)	 “Option Price”:
	  
	 	  	 (3)	 “Option Term”: The Options
      shall have a term of seven (7) years ending on the seventh (7th) anniversary
      of the Date of Award.
	  
	 	 (B)	 Vesting and Exercise of Options.
	  
	 	  	 (1)	 Subject to Section (E) of this Award Agreement,
      Options do not provide the Participant with any rights or interests therein
      until they vest and become exercisable in accordance with the following:
	  
	 	  	  	 (a)	 One-third of the Options will vest and become exercisable
      on a cumulative basis, on each of the first, second and third anniversaries
      of the Date of Award.
	  
	 	  	  	 (b)	 Any Options not previously vested in accordance with Section
      (B)(1)(a) shall vest and become exercisable as of the date of the Participant’s
      termination of membership on the Board due to death, Disability or an Approved
      Departure.
	  
	 	  	 (2)	 Options which have not vested and become exercisable
      at the time of the Participant’s termination of membership on the Board
      (for any reason other than death, Disability or an Approved Departure) shall
      terminate immediately and be of no further force or effect.
	  
	 	  	 (3)	 Upon vesting, the Options will remain exercisable
      until they terminate in accordance with Section D below.
	  
	 	  	 For the purposes of this Award Agreement, “Disability”
      shall be defined as a physical or mental impairment sufficient to make a
      Participant unable to perform the services required of a member of the Board,
      as determined by the Committee. “Approved  Departure”
      shall be defined as a termination of the Participant’s membership on
      the

				
	     	  	 Board, including a resignation from the Board by
      the Participant or a Participant not standing for re-election to the Board,
      provided that such termination is approved in advance by the Board. Notwithstanding
      the foregoing, a termination resulting from (i) the Participant’s willful
      and continued failure to substantially perform his or her duties as a member
      of the Board, (ii) an act of fraud or an intentional misrepresentation by
      the Participant or (iii) the Participant’s commission of a felony,
      in each such case, as determined by the Board in its sole discretion, shall
      not constitute an Approved Departure.
	  
	 	 (C)	 How to Exercise an Option.
	  
	 	  	 (1)	 The Options may be exercised by telephone or written notice
      to the Company’s stock plan administrator, currently Smith Barney (“Administrator”),
      specifying the number of Shares the Participant then desires to purchase,
      which may not be fewer than twenty-five (25). Except as provided in Section
      (C)(2) below, a Participant must send a check payable to the order of the
      Administrator for an amount in United States dollars equal to the Option
      Price of such Shares plus any fees or, if the Committee permits, Shares
      having an aggregate Fair Market Value (as of the trading date immediately
      preceding the date of exercise) equal to such Option Price which have been
      held by the Participant for at least six (6) months, or a combination of
      cash and such Shares. The Committee reserves the right to modify the exercise
      procedures from time to time.
	  
	 	  	 (2)	 Subject to the approval of the Committee and applicable securities
      laws, the Participant may be permitted to exercise the Options pursuant
      to a “cashless exercise” procedure, as permitted under Federal
      Reserve Board’s Regulation T, or by any other means which the Committee,
      in its discretion, determines to be consistent with the Plan’s purpose
      and applicable law.
	  
	 	  	 (3)	 As soon as practicable after receipt of such written notification
      and payment, Share certificates shall be issued in the Participant’s
      name. The Company and the Administrator shall maintain a record of all information
      pertaining to the Participant’s rights under this Award Agreement.
	  
	 	 (D)	 Termination of Options.
      The Options, which have vested and become exercisable as provided in Section
      (B), shall terminate and be of no force or effect as follows:
	 	  
	  
	 	  	 (1)	 If the Participant’s membership on the Board terminates
      during the Option Term by reason of the death or Disability of the Participant,
      the Options terminate and have no further force or effect upon the earlier
      of (i) three (3) years after the date of the Participant’s death
      or Disability and (ii) the expiration of the Option Term. 
	  
	 	  	 (2)	 If the Participant’s membership on the Board terminates
      during the Option Term due to an Approved Departure, the Options will terminate
      and have no further force or effect upon the expiration of the Option Term.
	  
	 	  	 (3)	 If the Participant’s membership on the Board of Directors
      terminates during the Option Term for any reason other than death, Disability
      or an Approved Departure, the Options will terminate and have no further
      force or effect upon the earlier of (i) the expiration of three (3)
      months after the termination event or (ii) the expiration of the Option
      Term.
	  
	 	  	 (4)	 If the Participant continues as a member of the Board through
      the Option Term, the Options terminate and have no further force or effect
      as of the expiration of the Option Term.

 2

				
	     	 (E)	 Change of Control. Notwithstanding
      any provision contained in the Plan or this Award Agreement to the contrary,
      upon a Change of Control prior to the termination of the Participant’s
      membership on the Board, all Options that have not been terminated prior
      to the effective date of the Change of Control shall immediately vest and
      become exercisable and shall remain exercisable until the earlier of
      (i) the expiration of the Option Term and (ii) the second anniversary of
      the Participant’s termination of membership on the Board.
	  
	 	 (F)	 Rights as Stockholder. The Participant
      shall have no rights as a stockholder with respect to Shares subject to
      the Options (including voting rights) until such time that the Option Price
      has been paid in full and the Shares have been issued and delivered to the
      Participant. No adjustment shall be made for dividends or other rights for
      which the record date is prior to such date, except as provided in Section
      13 of the Plan.
	  
	 	 (G)	 Transferability. The Options are not
      transferable other than by last will and testament, by the laws of descent
      and distribution pursuant to a domestic relations order, or as otherwise
      permitted under Section 12 of the Plan. Further, except as set forth in
      Section 12(b) of the Plan, during the Participant’s lifetime, the Options
      shall be exercisable only by the Participant, or in the event of the Participant’s
      legal incapacity, the Participant’s legal guardian or representative.
	  
	 	 (H)	 Miscellaneous
	  
	 	  	 (1)	 The Plan provides a complete description of the terms and
      conditions governing all Awards granted thereunder. This Award Agreement
      and the rights of the Participant hereunder are subject to the terms and
      conditions of the Plan, as amended from time to time, and to such rules
      and regulations as the Committee may adopt under the Plan. If there is any
      inconsistency between the terms of this Award Agreement and the terms of
      the Plan, the Plan’s terms shall completely supersede and replace the
      conflicting terms of this Award Agreement.
	  
	 	  	 (2)	 The Committee shall have the right to impose such restrictions
      on any Shares acquired pursuant to the exercise of the Option as it deems
      necessary or advisable under applicable federal securities laws, the rules
      and regulations of any stock exchange or market upon which such Shares are
      then listed or traded, and/or any blue sky or state securities laws applicable
      to such Shares. It is expressly understood that the Committee is authorized
      to administer, construe, and make all determinations necessary or appropriate
      to the administration of the Plan and this Award Agreement, all of which
      shall be binding upon the Participant.
	  
	 	  	 (3)	 The Board may at any time, or from time to time, terminate,
      amend, modify or suspend the Plan, and the Board or the Committee may amend
      or modify this Award Agreement at any time; provided, however,
      that no termination, amendment, modification or suspension shall materially
      and adversely alter or impair the rights of the Participant under this Award
      Agreement, without the Participant’s written consent.
	  
	 	  	 (4)	 As the Option Price is equal to the Fair Market Value of a
      Share, the Options are intended to be exempt from Section 409A of the Code
      and the regulations and guidance promulgated thereunder (“Section
      409A”). Notwithstanding the forgoing or any provision of the
      Plan or this Award Agreement, if any provision of this Award Agreement or
      the Plan contravenes Section 409A or could cause the Participant to incur
      any tax, interest or penalties under Section 409A, the Committee may, in
      its sole discretion and without the Participant’s consent, modify such
      provision to (i) comply with, or avoid being subject to, Section 409A, or
      to avoid the incurrence of taxes, interest and penalties under Section 409A,

 3

				
	     	  	  	 and/or (ii) maintain, to the maximum extent practicable, the
      original intent and economic benefit to the Participant of the applicable
      provision without materially increasing the cost to the Company or contravening
      the provisions of Section 409A. This Section H(4) does not create an obligation
      on the part of the Company to modify the Plan or this Award Agreement and
      does not guarantee that the Options will not be subject to interest and
      penalties under Section 409A.
	  
	 	  	 (5)	 Delivery of the Shares underlying the Options upon exercise
      will be subject to the Participant satisfying any applicable federal, state,
      local and foreign tax withholding obligations. The Company shall have the
      power and the right to deduct or withhold from all amounts payable to the
      Participant in connection with the Options, or otherwise, or require the
      Participant to remit to the Company, an amount sufficient to satisfy any
      applicable taxes required by law. Further, the Company may permit or require
      the Participant to satisfy, in whole or in part, the tax obligations by
      withholding Shares that would otherwise be received upon exercise of the
      Options.
	  
	 	  	 (6)	 This Award Agreement shall be subject to all applicable laws,
      rules, and regulations, and to such approvals by any governmental agencies
      or national securities exchanges as may be required, or as the Committee
      determines are advisable. The Participant agrees to take all steps the Company
      determines are necessary to comply with all applicable provisions of federal
      and state securities law in exercising his or her rights under this Award
      Agreement.
	  
	 	  	 (7)	 All obligations of the Company under the Plan and this Award
      Agreement, with respect to the Awards, shall be binding on any successor
      to the Company, whether the existence of such successor is the result of
      a direct or indirect purchase, merger, consolidation, or otherwise, of all
      or substantially all of the business and/or assets of the Company.
	  
	 	  	 (8)	 To the extent not preempted by federal law, this Award Agreement
      shall be governed by, and construed in accordance with, the laws of the
      State of Delaware.
	  
	 	 (I)	 Acceptance of Award. Acceptance of
      this Award requires no action on the part of the Participant and the Participant
      will be deemed to have agreed to all terms and conditions hereof. If the
      Participant, however, desires to refuse the Award, the Participant must
      notify the Company in writing. Such notification should be sent to CIT Group
      Inc., Human Resources Department, 1 CIT Drive, Livingston, New Jersey 07039,
      no later than thirty (30) days after receipt of this Award Agreement.

      IN WITNESS WHEREOF, this Award Agreement has been executed by the Company by one of its duly authorized officers as of the Date of Award.

 CIT Group Inc.

 4

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