0001104659-11-007328 Sample Contracts

MFA FINANCIAL, INC. AMENDED AND RESTATED 2010 EQUITY COMPENSATION PLAN FORM OF PHANTOM SHARE AWARD AGREEMENT (TIME-BASED VESTING)
Mfa Financial, Inc. • February 14th, 2011 • Real estate investment trusts • Maryland

WHEREAS, the Company maintains the MFA Financial, Inc. Amended and Restated 2010 Equity Compensation Plan, as it may be amended from time to time (the “Plan”) (capitalized terms used but not defined herein shall have the respective meanings ascribed thereto by the Plan);

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MFA FINANCIAL, INC. AMENDED AND RESTATED 2010 EQUITY COMPENSATION PLAN FORM OF PHANTOM SHARE AWARD AGREEMENT (PERFORMANCE-BASED VESTING)
Mfa Financial, Inc. • February 14th, 2011 • Real estate investment trusts • Maryland

AGREEMENT by and between MFA Financial, Inc., a Maryland corporation (the “Company”), and (the “Grantee”), dated as of the day of , (the “Effective Date”).

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