FIRST INVESTORS FINANCIAL SERIVES GROUP, INC. 2005 LONG-TERM INCENTIVE PLAN SUMMARY OF STOCK OPTION GRANT

Exhibit 10.2

FIRST INVESTORS FINANCIAL SERIVES GROUP, INC.
2005 LONG-TERM INCENTIVE PLAN

SUMMARY OF STOCK OPTION GRANT

You, the Optionee named below, have been granted the following option (the “Option”) to purchase shares of the common stock, $0.001 par value per share (the “Common Stock”), of First Investors Financial Services Group, Inc., a Delaware corporation (“First Investors”), on the terms and conditions set forth below and in accordance with the Stock Option Award Agreement (the “Agreement”) to which this Summary of Stock Option Grant is attached and the First Investors Financial Services Group, Inc. 2005 Long-Term Incentive Plan (the “Plan”):

Vesting Schedule:        The Option shall vest over a period of time and shares of Common Stock subject to the Option shall become purchasable in installments in accordance with the following schedule:  (i) 20% of such shares (if a fractional number, then the next lower whole number) shall become purchasable, in whole at any time or in part from time to time, on the first anniversary of the Vesting Commencement Date, if Optionee is in the continuous employment or service of First Investors or an Affiliate until such vesting date; (ii) 20% of such shares (if a fractional number, then the next lower whole number) shall become purchasable, in whole at any time or in part from time to time, on the second anniversary of the Vesting Commencement Date, if Optionee is in the continuous employment or service of First Investors or an Affiliate until such vesting date; (iii) an additional 20% of such shares (if a fractional number, then the next lower whole number) shall become purchasable, in whole at any time or in part from time to time, on the third anniversary of the Vesting Commencement Date, if the Optionee is in the continuous employment or service of First Investors or an Affiliate until such vesting date; (iv) an additional 20% of such shares (if a fractional number, then the next lower whole number) shall become purchasable, in whole at any time or in part from time to time, on the fourth anniversary of the Vesting Commencement Date, if the Optionee is in the continuous employment or service of First Investors or an Affiliate until such vesting date; and (v) the remaining shares shall become purchasable, in whole at any time or in part from time to time, on the third anniversary of the Vesting Commencement Date, if the Optionee is in the continuous employment or service of First Investors or an Affiliate until such vesting date.

You, by your signature as Optionee below, acknowledge that you (i) have reviewed the Agreement and the Plan in their entirety and have had the opportunity to obtain the advice of counsel prior to executing this Summary of Stock Option Grant, (ii) understand that the Option is granted under and governed by the terms and provisions of the Agreement and the Plan, and (iii) agree to accept as binding all of the determinations and interpretations made by the Committee with respect to matters arising under or relating to the Option, the Agreement and the Plan.