range of financial, operational and strategic — Lisa K. Polsky measures, including: Ms. Polsky received a $1.5 million one-time • staffing and strengthening CIT’s risk RSU award granted at the time she joined CIT and management, financial, compliance and an annual incentive of $500,000 awarded $252,500 control functions; as cash and $247,500 as additional RSUs. Ms. • progress in addressing supervisory Polsky’s compensation for 2010 reflected her expectations with respect to matters covered contribution to the firm’s performance and her in CIT’s Written Agreement with the Federal leadership in advancing the Company’s risk Reserve of New York; control infrastructure. C. Jeffrey Knittel • business segment financial performance; — Mr. Knittel received a one-time equity award in • transforming CIT’s funding model to reduce March 2010 in the form of RSUs with a grant our cost of funds and diversify sources of date value of $600,000. Mr. Knittel also received liquidity; an annual incentive of $2.23 million which was • maintaining strong capital ratios; and reduced because of executive compensation • building and strengthening our customer and restrictions due to CIT’s participation in TARP to vendor relationships. $2 million awarded $677,500 as cash and — Scott T. Parker $1,322,500 as additional RSUs. Mr. Knittel’s compensation for 2010 reflected his contribution Mr. Parker received a $2 million one-time RSU to the firm’s performance and leadership of the award granted at the time he joined CIT and an Transportation business. annual incentive of $500,000 awarded $252,500 as cash and $247,500 as additional RSUs. No single consolidated group of peer Mr. Parker’s compensation for 2010 reflected his companies was identified during 2010 for contribution to the firm’s performance and his purposes of comparing 2010 year-end incentives leadership in advancing the Company’s financial for named executive officers. The Compensation control infrastructure. Committee did review historic data for executive officers as well as data from multiple third-party — Nelson J. Chai competitive market surveys, including McLagan Mr. Chai received a one-time RSU award with market studies of Finance & Business Services1, a grant date value of $2.5 million at the time he Risk Management1, Top Management2, and joined CIT. Mr. Chai’s compensation for 2010 Equipment Leasing and Financing2 to provide a reflected his contribution to the firm’s frame of reference based on each executive’s role performance and his leadership in advancing the at the Company without focusing on any Company’s business and infrastructure strategies. particular benchmark or percentile. 1 The following 30 companies are included in both the Finance & Business Services Survey and Risk Management Survey: Lynch, The Bank Of New York Mellon, Bank of - Mitsubishi UFJ, Capital Group, BMO Financial Group, BNP Paribas, Brown Brothers Harriman & Co., , , , Depository Trust & Clearing Corporation, , GE Commercial Finance, HSBC Bank, ING, JP Morgan Chase, Landesbank Baden-Wurttemberg – US Offices, , Mitsubishi Securities, Mitsubishi UFJ Trust & Banking Corporation (USA), PNC Bank, Prudential Financial, RBS GBM, , Societe Generale, Sumitomo Mitsui Banking Corporation, TD Ameritrade, TD Securities, UBS, and Bank. In addition to the aforementioned companies, the Risk Management Survey also included The Hartford, and the Finance & Business Services Survey also included Ameriprise Financial, Inc., CIBC World Markets, HSBC Global Banking and Markets, Metropolitan Life Insurance Company, NYSE Euronext, Raymond, James & Associates, and State Street Bank & Trust Company. 2 The following 15 companies are included in both the Top Management Survey and Equipment Leasing and Financing Survey: Bank of America, Branch Banking & Trust Co., Capital One, Comerica, Fifth Third Bank, KeyCorp, M&T Bank Corporation, Marshall & Ilsley Corporation, Prudential Financial, Regions Financial Corporation, Royal Bank of Canada, SunTrust , U.S. Bancorp, UBS, and Wells Fargo Bank. The Equipment Leasing and Financing Survey also includes the following 34 companies: AT&T, Babson Capital Management LLC, Bank of the West, BNP Paribas, Case New Holland, Caterpillar, CoBank, Connext, Daimler , De Lage Landen Financial Services, Inc., Deere & Company, First American Equipment Finance, First Financial Bancorp, GE Commercial Finance, Hitachi Credit America, HP Financial Services, Huntington Equipment Finance, Macquarie Equities (USA) Inc., Marquette Financial Companies, Merchants Capital Resources, Inc., Microsoft, , Ltd., Pacific Life Insurance Company, PHH Arval, PNC Bank, RBS/Citizens Bank, Financial Services, SL Financial Services (LBBW), Societe Generale, Sumitomo Mitsui Banking Corporation, Susquehanna Bancshares, Inc., Tygris Vendor Finance, Volvo Commercial Finance LLC, and Western State Agency, Inc. The Top Management Survey also includes the following 43 companies: American Express, American International Group, Associated Banc, Banco Itau, , The Bank Of New York Mellon, Barclays, BOK Financial Corporation, Charles Schwab & Co., Inc, Board Options Exchange, Chicago Mercantile Exchange, Citadel LLC, Citigroup, Commerce Bank, Compass Bancshares, , DBS Bank, Depository Trust & Clearing Corporation, Deutsche Bank, , , First Horizon National Corporation, Genworth Financial, Goldman, Sachs & Co., HSBC, Huntington Bancshares, Inc., ING, Investment Technology Group, JP Morgan Chase, Lincoln Financial Group, Lloyds Banking Group, MarketAxess, Metropolitan Life Insurance Company, , Newedge, NYSE Euronext, PNC Financial Services, Royal , State Street Bank & Trust Company, SVB Financial Group, Synovus, TMX Group Inc., and Zions Bancorporation. 31