Common use of Absolute TSR PRSUs Clause in Contracts

Absolute TSR PRSUs. For purposes of the TSR PRSUs, the “Average TSR” for the Performance Period is the TSR, divided by 3, and the “Target TSR” is an 8% per annum simple cumulative return over the TSR Performance Period. MFA’s Average TSR will be compared to the Target TSR to determine whether and to what extent the Absolute TSR PRSUs will vest. The number of Absolute TSR PRSUs that will vest at the end of the Performance Period shall be determined by comparing the MFA’s Average TSR to the Target TSR (8% per year), up to a maximum vesting of 200% of the Absolute TSR Target Award. Any Absolute TSR PRSUs that do not vest at the end of the TSR Performance Period shall be forfeited. Example Calculations Set forth below are examples addressing vesting of Absolute TSR PRSUs. The examples below are intended to be used purely for illustrative purposes and assume that the Absolute TSR Target Award for the applicable grant of Absolute TSR PRSUs is equal to 46,000. Example 1: If MFA’s Average TSR over the TSR Performance Period were 2%, then the portion of the Absolute TSR PRSUs that would become vested would be equal to: (2/8) of the Absolute TSR Target Award, or 11,500 PRSUs. Example 2: If MFA’s Average TSR over the TSR Performance Period were 12%, then the portion of the Absolute TSR PRSUs that would become vested would be equal to: (12/8) of the Absolute TSR Target Award, or 69,000 PRSUs. Example 3: If MFA’s Average TSR over the TSR Performance Period were 16%, then the portion of the Absolute TSR PRSUs that would become vested would be equal to (16/8) of the Absolute TSR Target Award, or 92,000 PRSUs (maximum vesting).

Absolute TSR PRSUs. For purposes of the TSR PRSUs, the “Average TSR” for the Performance Period is the TSR, divided by 3, and the “Target TSR” is an 8% per annum simple cumulative return over the TSR Performance Period. MFA’s Average TSR will be compared to the Target TSR to determine whether and to what extent the Absolute TSR PRSUs will vest. The number of Absolute TSR PRSUs that will vest at the end of the Performance Period shall be determined by comparing the MFA’s Average TSR to the Target TSR (8% per year), up to a maximum vesting of 200% of the Absolute TSR Target Award. Any Absolute TSR PRSUs that do not vest at the end of the TSR Performance Period shall be forfeited. Example Calculations Set forth below are examples addressing vesting of Absolute TSR PRSUs. The examples below are intended to be used purely for illustrative purposes and assume that the Absolute TSR Target Award for the applicable grant of Absolute TSR PRSUs is equal to 46,000. purposes: Example 1: If MFA’s Average TSR over the TSR Performance Period were 2%, then the portion of the Absolute TSR PRSUs that would become vested would be equal to: (2/8) of the Absolute TSR Target Award, or 11,500 5,625 PRSUs. Example 2: If MFA’s Average TSR over the TSR Performance Period were 12%, then the portion of the Absolute TSR PRSUs that would become vested would be equal to: (12/8) of the Absolute TSR Target Award, or 69,000 33,750 PRSUs. Example 3: If MFA’s Average TSR over the TSR Performance Period were 16%, then the portion of the Absolute TSR PRSUs that would become vested would be equal to (16/8) of the Absolute TSR Target Award, or 92,000 45,000 PRSUs (maximum vesting).

Absolute TSR PRSUs. For purposes of the TSR PRSUs, the “Average TSR” for the Performance Period is the TSR, divided by 3, and the “Target TSR” is an 8% per annum simple cumulative return over the TSR Performance Period. MFA’s Average TSR will be compared to the Target TSR to determine whether and to what extent the Absolute TSR PRSUs will vest. The number of Absolute TSR PRSUs that will vest at the end of the Performance Period shall be determined by comparing the MFA’s Average TSR to the Target TSR (8% per year), up to a maximum vesting of 200% of the Absolute TSR Target Award. Any Absolute TSR PRSUs that do not vest at the end of the TSR Performance Period shall be forfeited. Example Calculations Set forth below are examples addressing vesting of Absolute TSR PRSUs. The examples below are intended to be used purely for illustrative purposes and assume that the Absolute TSR Target Award for the applicable grant of Absolute TSR PRSUs is equal to 46,000. purposes: Example 1: If MFA’s Average TSR over the TSR Performance Period were 2%, then the portion of the Absolute TSR PRSUs that would become vested would be equal to: (2/8) of the Absolute TSR Target Award, or 11,500 15,312 PRSUs. Example 2: If MFA’s Average TSR over the TSR Performance Period were 12%, then the portion of the Absolute TSR PRSUs that would become vested would be equal to: (12/8) of the Absolute TSR Target Award, or 69,000 91,875 PRSUs. Example 3: If MFA’s Average TSR over the TSR Performance Period were 16%, then the portion of the Absolute TSR PRSUs that would become vested would be equal to (16/8) of the Absolute TSR Target Award, or 92,000 122,500 PRSUs (maximum vesting).

Absolute TSR PRSUs. For purposes of the TSR PRSUs, the “Average TSR” for the Performance Period is the TSR, divided by 3, and the “Target TSR” is an 8% per annum simple cumulative return over the TSR Performance Period. MFA’s Average TSR will be compared to the Target TSR to determine whether and to what extent the Absolute TSR PRSUs will vest. The number of Absolute TSR PRSUs that will vest at the end of the Performance Period shall be determined by comparing the MFA’s Average TSR to the Target TSR (8% per year), up to a maximum vesting of 200% of the Absolute TSR Target Award. Any Absolute TSR PRSUs that do not vest at the end of the TSR Performance Period shall be forfeited. Example Calculations Set forth below are examples addressing vesting of Absolute TSR PRSUs. The examples below are intended to be used purely for illustrative purposes and assume that the Absolute TSR Target Award for the applicable grant of Absolute TSR PRSUs is equal to 46,000. purposes: Example 1: If MFA’s Average TSR over the TSR Performance Period were 2%, then the portion of the Absolute TSR PRSUs that would become vested would be equal to: (2/8) of the Absolute TSR Target Award, or 11,500 13,125 PRSUs. Example 2: If MFA’s Average TSR over the TSR Performance Period were 12%, then the portion of the Absolute TSR PRSUs that would become vested would be equal to: (12/8) of the Absolute TSR Target Award, or 69,000 78,750 PRSUs. Example 3: If MFA’s Average TSR over the TSR Performance Period were 16%, then the portion of the Absolute TSR PRSUs that would become vested would be equal to (16/8) of the Absolute TSR Target Award, or 92,000 105,000 PRSUs (maximum vesting).

Absolute TSR PRSUs. For purposes of the TSR PRSUs, the “Average TSR” for the Performance Period is the TSR, divided by 3, and the “Target TSR” is an 8% per annum simple cumulative return over the TSR Performance Period. MFA’s Average TSR will be compared to the Target TSR to determine whether and to what extent the Absolute TSR PRSUs will vest. The number of Absolute TSR PRSUs that will vest at the end of the Performance Period shall be determined by comparing the MFA’s Average TSR to the Target TSR (8% per year), up to a maximum vesting of 200% of the Absolute TSR Target Award. Any Absolute TSR PRSUs that do not vest at the end of the TSR Performance Period shall be forfeited. Example Calculations Set forth below are examples addressing vesting of Absolute TSR PRSUs. The examples below are intended to be used purely for illustrative purposes and assume that the Absolute TSR Target Award for the applicable grant of Absolute TSR PRSUs is equal to 46,000152,500. Example 1: If MFA’s Average TSR over the TSR Performance Period were 2%, then the portion of the Absolute TSR PRSUs that would become vested would be equal to: (2/8) of the Absolute TSR Target Award, or 11,500 38,125 PRSUs. Example 2: If MFA’s Average TSR over the TSR Performance Period were 12%, then the portion of the Absolute TSR PRSUs that would become vested would be equal to: (12/8) of the Absolute TSR Target Award, or 69,000 228,750 PRSUs. Example 3: If MFA’s Average TSR over the TSR Performance Period were 16%, then the portion of the Absolute TSR PRSUs that would become vested would be equal to (16/8) of the Absolute TSR Target Award, or 92,000 305,000 PRSUs (maximum vesting).