SEC Contract Filing

Filing Date: 2020-05-05

Document Content:
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<TYPE>EX-10.18
<SEQUENCE>5
<FILENAME>cit-ex1018_274.htm
<DESCRIPTION>EX-10.18
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cit-ex1018_274.htm
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:16pt;font-family:Arial;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.18</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:11pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="g2fzkb2os0o3000001.jpg" title="" alt="" style="width:68px;height:31px;"></p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:11pt;font-family:Arial;font-style:normal;text-transform:none;font-variant: normal;">The CIT Group Inc. 2016 Omnibus Incentive Plan</p>
<p style="margin-bottom:0pt;text-align:center;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:Arial;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;">Performance-Based Restricted Stock Unit Award Agreement</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:Arial;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;">2020 Long-Term Incentive PBRSU Award</p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;<font style="font-weight:bold;">Participant</font>&#8221;:</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;<font style="font-weight:bold;">Date of Award</font>&#8221;:</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;<font style="font-weight:bold;">Number of RSUs Granted</font>&#8221;:</p></td>
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<p style="margin-bottom:0pt;text-align:justify;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:9pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:9pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Effective as of the Date of Award, this Award Agreement sets forth the grant of Restricted Stock Units (&#8220;<font style="font-weight:bold;">RSUs</font>&#8221;) by CIT Group Inc., a Delaware corporation (the &#8220;<font style="font-weight:bold;">Company</font>&#8221;), to the Participant, pursuant to the provisions of the CIT Group Inc. 2016 Omnibus Incentive Plan (the &#8220;<font style="font-weight:bold;">Plan</font>&#8221;).&nbsp;&nbsp;This Award Agreement memorializes the terms and conditions as approved by the Compensation Committee of the Board (the &#8220;<font style="font-weight:bold;">Committee</font>&#8221;).&nbsp;&nbsp;All capitalized terms shall have the meanings ascribed to them in the Plan, unless specifically set forth otherwise herein.</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:9pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The parties hereto agree as follows:</p>
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<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;font-size:9pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:9pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(A)</font></p></td>
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<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Arial;font-size:9pt;"><font style="font-weight:bold;text-decoration:underline;">Grant of RSUs</font>.&nbsp;&nbsp;The Company hereby grants to the Participant the Number of RSUs Granted, effective as of the Date of Award and subject to the terms and conditions of the Plan and this Award Agreement.&nbsp;&nbsp;Each RSU represents the unsecured right to receive one Share in the future following the vesting of the RSU in accordance with this Award Agreement.&nbsp;&nbsp;The Participant shall not be required