SEC Contract Filing

Filing Date: 2017-03-16

Document Content:
<DOCUMENT>
<TYPE>EX-10.48
<SEQUENCE>8
<FILENAME>e73174ex10_48.htm
<DESCRIPTION>FORM OF CIT GROUP INC. OMNIBUS INCENTIVE PLAN RESTRICTED STOCK UNIT DIRECTOR AWARD AGREEMENT (THREE YEAR VESTING) (FILED HEREIN).
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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0in"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">Exhibit 10.48</P></P>

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 <P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>The CIT Group Inc. 2016 Omnibus Incentive
 Plan</B></P>
 <P STYLE="font: bold 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Restricted Stock Unit Director Award Agreement</P>
 <P STYLE="font: bold 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center">Initial Award (Stock-Settled)<A NAME="a_DV_M2"></A><A NAME="a_DV_M3"></A><A NAME="a_DV_M4"></A><A NAME="a_DV_M5"></A><A NAME="a_DV_M6"></A></P></TD>
 <TD STYLE="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; font: 11pt Times New Roman, Times, Serif; text-align: right"><IMG SRC="image_006.jpg" ALT="" STYLE="height: 35px; width: 72px">&nbsp;</TD></TR>
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 <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Arial, Helvetica, Sans-Serif">&#8220;<B>Participant</B>&#8221;:</FONT></TD>
 <TD STYLE="width: 75%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Arial, Helvetica, Sans-Serif">&lt;&lt;Participant Name&gt;&gt;</FONT></TD></TR>
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 <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Arial, Helvetica, Sans-Serif">&#8220;<B>Date of Award</B>&#8221;:</FONT></TD>
 <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Arial, Helvetica, Sans-Serif">&lt;&lt;Grant Date&gt;&gt;</FONT></TD></TR>
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 <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Arial, Helvetica, Sans-Serif">&#8220;<B>Number of RSUs Granted</B>&#8221;:</FONT></TD>
 <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Arial, Helvetica, Sans-Serif">&lt;&lt;Shares Granted&gt;&gt;</FONT></TD></TR>
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<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><A NAME="a_DV_M7"></A><FONT STYLE="font-weight: normal">This
Director Award Agreement, effective as of the Date of Award set forth above, sets forth the grant of Restricted Stock Units (&#8220;</FONT>RSUs<FONT STYLE="font-weight: normal">&#8221;)
by CIT Group Inc., a Delaware corporation (the &#8220;</FONT>Company<FONT STYLE="font-weight: normal">&#8221;), to the Participant
named above, pursuant to the provisions of the CIT Group Inc. 2016 Omnibus Incentive Plan (the &#8220;</FONT>Plan<FONT STYLE="font-weight: normal">&#8221;).
</FONT><A NAME="a_DV_M8"></A><FONT STYLE="font-weight: normal">All capitalized terms shall have the meanings ascribed to them in
the Plan, unless specifically set forth otherwise herein. </FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify">The parties hereto agree as follows:</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><A NAME="a_DV_M9"></A>(A)</TD><TD STYLE="text-align: justify"><B><U>Grant of RSUs</U></B>.<B> </B> The Company hereby grants to the Participant the number of
RSUs set forth above, subject to the terms and conditions of the Plan and this Director Award Agreement. Each RSU represents the
unsecured right to receive in the future one Share or a cash payment equal to the Fair Market Value of one Share. <A NAME="a_DV_M10"></A><A NAME="a_DV_M11"></A>The
Participant shall not be required to pay any additional consideration for the issuance of the Shares or cash payment equal to the
value of the Shares upon settlement of the RSUs.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><A NAME="a_DV_M20"></A>(B)</TD><TD STYLE="text-align: justify"><B><U>Vesting and Settlement of RSUs</U></B>. Subject to Sections (C) and (D) all RSUs shall vest
and settle in accordance with the provisions of this Section (B).</TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><A NAME="a_DV_M21"></A><FONT STYLE="font: 9pt Arial, Helvetica, Sans-Serif">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 9pt Arial, Helvetica, Sans-Serif">One-third of the RSUs granted shall vest in
full, on a cumulative basis on &lt;&lt;Vesting Dates&gt;&gt;; provided, however, the RSUs shall be subject to earlier vesting in
accordance with Sections (C)(1) and (D) hereof. The date on which each RSU vests is referred to as the <B>&#8220;Vesting Date&#8221;</B>.</FONT></TD></TR></TABLE>

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