Common use of Annual Grants Clause in Contracts

Annual Grants. To the extent that the Executive is still employed by MFA on the applicable grant date, within ten (10) business days following the Effective Date of the Agreement and in each of January 2018 and January 2019, the Executive shall receive grants of restricted stock units subject to time vesting (“TRSUs”) and restricted stock units which vest based on the achievement of performance goals (“PRSUs”). The TRSU and PRSU grants shall be subject to the terms of the applicable award agreements and the Equity Compensation Plan.

Annual Grants. To Within ten (10) business days following the execution of the Agreement and, to the extent that the Executive is still employed by MFA on the applicable grant date, within ten (10) business days following the Effective Date of the Agreement and in each of January 2018 2015 and January 20192016, the Executive shall receive grants of restricted stock units subject to time vesting (“TRSUs”) and restricted stock units which vest based on the achievement of performance goals (“PRSUs”). The TRSU and PRSU grants shall be subject to the terms of the applicable award agreements and the Equity Compensation Plan.

Annual Grants. To the extent that the Executive is still employed by MFA on the applicable grant date, within ten (10) business days following the Effective Date of the Agreement and in the first calendar quarter of each of January 2018 and January 2019, the Executive shall receive grants of restricted stock units subject to time vesting (“TRSUs”) and restricted stock units which vest based on the achievement of performance goals (“PRSUs”). The TRSU and PRSU grants shall be subject to the terms of the applicable award agreements and the Equity Compensation Plan.”