0001275477-07-000027 Sample Contracts

Bimini Capital Management, Inc. – BIMINI CAPITAL MANAGEMENT, INC. (FORMERLY OPTEUM INC. AND FORMERLY BIMINI MORTGAGE MANAGEMENT, INC.) 2003 LONG TERM INCENTIVE COMPENSATION PLAN PHANTOM SHARE AWARD AGREEMENT (November 8th, 2007)

AGREEMENT by and between Bimini Capital Management, Inc., a Maryland corporation (the “Company”) and (the “Grantee”), dated as of the ___ day of ___________, 200_.

Bimini Capital Management, Inc. – 2004 PERFORMANCE BONUS PLAN (November 8th, 2007)
Bimini Capital Management, Inc. – 2003 LONG TERM INCENTIVE COMPENSATION PLAN (November 8th, 2007)

Bimini Capital Management, Inc., a Maryland corporation, wishes to attract key employees, directors and consultants to the Company and its Subsidiaries and induce key employees, directors and consultants to remain with the Company and its Subsidiaries, and encourage them to increase their efforts to make the Company’s business more successful whether directly or through its Subsidiaries.  In furtherance thereof, the Bimini Capital Management, Inc. 2003 Long Term Incentive Compensation Plan is designed to provide equity-based incentives to key employees, directors and consultants of the Company and its Subsidiaries.  Awards under the Plan may be made to selected key employees, directors and consultants of the Company and its Subsidiaries in the form of Options, Restricted Stock, Phantom Shares, Dividend Equivalent Rights or other forms of equity-based compensation.

Bimini Capital Management, Inc. – BIMINI CAPITAL MANAGEMENT, INC. (FORMERLY OPTEUM INC. AND FORMERLY BIMINI MORTGAGE MANAGEMENT, INC.) 2003 LONG TERM INCENTIVE COMPENSATION PLAN RESTRICTED STOCK AWARD AGREEMENT (November 8th, 2007)

AGREEMENT by and between Bimini Capital Management, Inc., a Maryland corporation (the “Company”) and (the “Grantee”), dated as of the ___ day of _______________, 200_.