Common use of PRSUs Clause in Contracts

PRSUs. Each annual grant of PRSUs will provide for a target grant of PRSUs with respect to 70,000 shares of MFA common stock (the “Target Award”). The PRSUs will vest based on MFA’s average total shareholder return (“Average MFA TSR”) for the three year performance period beginning on January 1 of the year of grant (the “TSR Performance Period”). The TSR Performance Periods are as follows: · January 1, 2014 through December 31, 2016 · January 1, 2015 through December 31, 2017 · January 1, 2016 through December 31, 2018 The PRSUs will vest on December 31 of the applicable TSR Performance Period, to the extent that the total shareholder return performance goal described below is achieved; provided that the Executive remains employed for the entire vesting period and subject to vesting as described in Sections 5(f) and 5(h) of the Agreement. Any unvested PRSUs shall be forfeited as of the date of Executive’s termination of employment, except as provided in Sections 5(f) and 5(h) of the Agreement. MFA’s Average MFA TSR will be compared to the Target TSR to determine whether and to what extent the PRSUs will vest. For purposes of each annual grant of PRSUs, the “Target TSR” is an 8% per annum simple cumulative return over the TSR Performance Period. Average MFA TSR for the vesting period shall be calculated as follows: · The Average MFA TSR for the Performance Period shall be the MFA TSR divided by 3.

PRSUs. Each annual grant of PRSUs will provide for a target grant of PRSUs with respect to 70,000 82,500 shares of MFA common stock (the “Target Award”). The PRSUs will vest based on MFA’s average total shareholder return (“Average MFA TSR”) for the three year performance period beginning on January 1 of the year of grant (the “TSR Performance Period”). The TSR Performance Periods are as follows: · January 1, 2014 through December 31, 2016 · January 1, 2015 through December 31, 2017 · January 1, 2016 through December 31, 2018 The PRSUs will vest on December 31 of the applicable TSR Performance Period, to the extent that the total shareholder return performance goal described below is achieved; provided that the Executive remains employed for the entire vesting period and subject to vesting as described in Sections 5(f) and 5(h) of the Agreement. Any unvested PRSUs shall be forfeited as of the date of Executive’s termination of employment, except as provided in Sections 5(f) and 5(h) of the Agreement. MFA’s Average MFA TSR will be compared to the Target TSR to determine whether and to what extent the PRSUs will vest. For purposes of each annual grant of PRSUs, the “Target TSR” is an 8% per annum simple cumulative return over the TSR Performance Period. Average MFA TSR for the vesting period shall be calculated as follows: · The Average MFA TSR for the Performance Period shall be the MFA TSR divided by 3.