X0303 4 2008-07-17 0001171825 CIT GROUP INC CIT 0001269770 MASON ALEXANDER T C/O CIT GROUP INC. 505 FIFTH AVENUE, 9TH FLOOR NEW YORK NY 10017 1 President & COO Common Stock 2008-07-17 4 A 0 129871 0 A 129871 D Option (Right to Buy) 8.47 2008-07-17 4 A 0 450000 0 A 2015-07-17 Common Stock 450000 450000 D Options vest and become exercisable in three equal installments on each of the 1st, 2nd, and 3rd anniversaries of the grant date. Exercise price based on closing price of CIT common stock on 7/17/08 grant date (date of earnings release). Restricted stock units vest in three equal installments on the first, second, and third anniversaries of the grant date. Restricted stock units convert into common stock on a one-for-one basis. Restricted stock units are calculated based on the closing price of CIT common stock on 7/17/08 (date of earnings release). /s/ James P. Shanahan, attorney-in-fact for Mr. Mason 2008-07-21