Common use of Position, Duties and Responsibilities Clause in Contracts

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Chief Investment Officer and Senior Vice President of MFA, reporting directly and solely to the Chief Executive Officer of MFA (the “CEO”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEO. (b) During the Term of Employment, the Executive shall, without additional compensation, also serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Senior Vice President, Chief Investment Accounting Officer and Senior Vice President Treasurer of MFA, reporting directly and solely to the Chief Executive Financial Officer of MFA (the “CEO”"CFO"), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the Chairman and Chief Executive Officer of MFA (the "CEO") and/or the CFO. (b) During the Term of Employment, the Executive shall, without additional compensation, also serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the CEO, the CFO and/or the Board of Directors of MFA (the “"Board of Directors”") or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “"Company.” " For purposes of this Agreement, the term “"affiliate” " shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “"Act”"). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his her ability and shall devote substantially all of his business her time and efforts to his her employment and the performance of his her duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, her personal financial and legal affairs, so long as such activities do not materially interfere with his her carrying out his her duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-the President and Chief Investment Operating Officer and Senior Vice President of MFA, reporting directly and solely to the Chief Executive Officer of MFA (the “CEO”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEO. (b) During the Term of Employment, the Executive shall, without additional compensation, also serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-the Chief Investment Executive Officer and Senior Vice President of MFA, reporting directly and solely to the Chief Executive Officer Board of Directors of MFA (the “CEOBoard of Directors”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEOBoard of Directors. (b) During the Term of Employment, the Executive shall, without additional compensation, also serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-the Chief Investment Executive Officer and Senior Vice President of MFA, reporting directly and solely to the Chief Executive Officer Board of Directors of MFA (the “CEOBoard of Directors”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEOBoard of Directors. (b) During the Term of Employment, the Executive shall, without additional compensation, also serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During Commencing on the Term of EmploymentEffective Date, the Executive was employed as the Senior Vice President, Chief Financial Officer and Director, Investor Relations of the Company and the Executive has been assigned and shall be employed as Co-Chief Investment Officer and Senior Vice President of MFA, reporting directly and solely to the Chief Executive Officer of MFA (the “CEO”), with assigned such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding reasonably consistent with such offices at similarly situated mortgage REITs positions and such other duties and responsibilities as may be mutually agreed upon between the Executive and the CEOBoard from time to time deems appropriate. (b) During the Term of EmploymentEmployment Term, the Executive shallshall devote his entire business time, without additional compensationattention and energies to the business and interest of the Company in performing his duties and responsibilities under this Agreement, also and, to that end, the Executive shall not serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, of other corporations or on behalf of, such subsidiaries or affiliates entities without the prior approval of MFA as the Board in each case; provided that such positions do not materially interfere with the proper performance of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA Executive’s duties and such subsidiaries and affiliates are hereinafter referred to, collectively, responsibilities as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the meaning ascribed thereto set forth in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”)Section 3. (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and Notwithstanding anything contained in Section 3(b) to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing contrary, nothing herein shall preclude the Executive from (i) serving on the boards of directors of a reasonable number of trade associations and/or charitable organizations, (ii) engaging in charitable activities and community affairs affairs, and (iii) managing his personal, financial personal investments and legal affairs, so long as provided, that such activities do not materially interfere with the proper performance of his duties and responsibilities as set forth in Section 3. (d) The Executive, in carrying out his duties and responsibilities under this Agreement, shall report directly to the Chief Executive Officer of the Company. (e) In the event of a termination of employment of the Executive for any reason, the Executive shall immediately resign as a member of the Board and as a member of each of the boards of directors of the Company’s Affiliates upon which the Executive serves.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall will be employed as Co-Chief Investment Officer and Senior Vice President the General Counsel of MFAthe Company, reporting directly and solely to the Chief Executive Officer of MFA the Company. Executive will (i) be responsible for, and, along with the Company’s Chief Executive Officer, have authority over, the Company’s legal functions, and (ii) have such other duties and responsibilities as are assigned to him by the Company’s Chief Executive Officer or the Board of Directors of the Company (the “CEOBoard of Directors”), ) (not inconsistent in any significant respect with such authority, the duties and dayresponsibilities typically assigned to the general counsel of a publicly-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEOtraded REIT). (b) During the Term of Employment, the Executive shallwill, without additional compensation, also serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA the Company as the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall will have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, Executive will serve the Executive shall serve MFA Company faithfully, diligently and to the best of his ability and shall will devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall will preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Chief Investment Officer Chairman and Senior Vice President of MFA, reporting directly and solely to the Chief Executive Officer of MFA (the “CEO”)Company and be responsible, with such authoritysubject to the control of the Board, for the establishment and implementation of corporate policy and general management of the Company. In that capacity the Executive shall have the duties and day-to-day management responsibilities as are customarily maintained normally associated with the positions of Chairman and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between Chief Executive Officer. It is the intention of the Parties that the Executive serve as a member of the Board and as a member of the CEOExecutive Committee during the Term of Employment. The Executive, in carrying out his duties under this Agreement, shall report to, and be subject to the supervision of, the Board. At any time that the Company does not have another person acting as the President and Chief Operating Officer of the Company, Executive shall also have such titles and serve in such capacities, it being understood that the relinquishment of such titles by Executive upon employment of a President and Chief Operating Officer by the Company shall not constitute a breach by the Company of its obligations under this Agreement. (b) During the Term of Employment, the Executive shall, without additional compensation, also serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and Anything herein to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein contrary notwithstanding, nothing shall preclude the Executive from (i) serving on the boards of directors of a reasonable number of other corporations not engaged in competition with the Company or the boards of a reasonable number of trade associations and/or charitable organizations, (ii) engaging in charitable activities and community affairs, (iii) managing his personal investments and affairs and managing his personal(iv) being involved in other business transactions, financial and legal affairs, so long as provided that such activities do not materially interfere with his carrying out the proper performance of his duties and responsibilities under this Agreementas the Company's Chairman and Chief Executive Officer.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Senior Vice President, Chief Investment Accounting Officer and Senior Vice President Treasurer of MFA, reporting directly and solely to the Chief Executive Financial Officer of MFA (the “CEO”"CFO"), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the Chief Executive Officer of MFA (the "CEO") and/or the CFO. (b) During the Term of Employment, the Executive shall, without additional compensation, also serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the CEO, the CFO and/or the Board of Directors of MFA (the “"Board of Directors”") or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “"Company.” " For purposes of this Agreement, the term “"affiliate” " shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “"Act”"). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his her ability and shall devote substantially all of his business her time and efforts to his her employment and the performance of his her duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, her personal financial and legal affairs, so long as such activities do not materially interfere with his her carrying out his her duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Chief Investment Officer and Senior Vice President of MFA, reporting directly and solely to the President and Chief Financial Officer (currently Xxxxxxx X. Xxxxx), Executive Vice President and Chief Investment and Administrative Officer (currently Xxxxxx X. Xxxxxxxxx), and Executive Vice President (currently Xxxxx X. Xxxxxxx) of MFA (the “CEONamed Executives”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEONamed Executives. (b) During the Term of Employment, the Executive shall, without additional compensation, also (i) serve on the board of directors of, (ii) serve as an officer of, and/or (iii) perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the CEO and/or the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. request MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the the· meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall serve as Chief Legal Officer of the Company, and shall perform such duties consistent with his position as may be employed as Co-Chief Investment Officer and Senior Vice President of MFA, reporting directly and solely assigned to him from time to time by the Chief Executive Officer of MFA (the “CEO”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEO. (b) During the Term of Employment, the Executive shall, without additional compensation, also serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the Board of Directors of MFA (the “Board of Directors”) Company or the CEO may, from time to time, Board. At the Company’s request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently the Company and/or its subsidiaries and affiliates in other capacities in addition to the best foregoing, consistent with the Executive’s position as Chief Legal Officer of the Company. In the event that the Executive, during the Term, serves in any one or more of such additional capacities, the Executive’s compensation shall not be increased beyond that specified in Articles 4 through 7 hereof. In addition, in the event the Executive’s service in one or more of such additional capacities is terminated, the Executive’s compensation, as specified in Articles 4 through 7 hereof, shall not be diminished or reduced in any manner as a result of such termination provided that the Executive otherwise remains employed under the terms of this Agreement. During his ability and employment with the Company, the Executive shall devote substantially all of his business time and efforts attention to the business and affairs of the Company and shall use his employment best efforts, skills and abilities to promote its interests. (b) The Executive shall be permitted to serve on corporate boards with the Chief Executive Officer's or compensation committee of the Board's (the "Compensation Committee") advance consent, which shall not be unreasonably withheld. In addition, the Executive may engage in religious, charitable or other community activities as long as such services and activities are disclosed to the Chief Executive Officer or the Compensation Committee and do not individually or in the aggregate interfere with the Executive’s performance of his duties under this Agreement. Nothing herein shall preclude to the Company; provided, that if the Executive serves on a board, committee or similar body of any such religious, charitable or community organization or if the Executive engages in teaching, speaking or writing engagements in connection with such activities, the Executive will receive prior written approval from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreementthe Chief Executive Officer or the Compensation Committee.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Chief Investment Officer and Senior Executive Vice President of MFA, reporting directly and solely to the President and Chief Executive Officer of MFA (the “CEO”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEO. (b) During the Term of Employment, the Executive shall, without additional compensation, also (i) serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the CEO and/or the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, personal financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Chief Investment Officer and Senior Executive Vice President of MFA, reporting directly to the President and solely to Chief Operating Officer of MFA (the “COO”) or such other executive officer as may be designated by the Chief Executive Officer of MFA (the “CEO”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed shall be determined from time to time by persons holding such offices at similarly situated mortgage REITs and the COO or such other duties as may be mutually agreed upon between the Executive and the CEOexecutive officer. (b) During the Term of Employment, the Executive shall, without additional compensation, also serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the CEO and/or the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-President and Chief Investment Financial Officer and Senior Vice President of MFA, reporting directly and solely to the Chief Executive Officer of MFA (the “CEO”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEO. (b) During the Term of Employment, the Executive shall, without additional compensation, also (i) serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the CEO and/or the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Chief Investment Officer and Senior Executive Vice President and Chief Portfolio Officer of MFA, reporting directly and solely to the President and Chief Executive Officer of MFA (the “CEO”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEO. (b) During the Term of Employment, the Executive shall, without additional compensation, also (i) serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the CEO and/or the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Chief Investment Officer and Senior First Vice President of MFA, reporting directly and solely to the Chief Executive Officer Vice President (currently Xxxxx X. Xxxxxxx) of MFA (the “CEOExecutive Vice President”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEOExecutive Vice President. (b) During the Term of Employment, the Executive shall, without additional compensation, also (i) serve on the board of directors of, (ii) serve as an officer of, and/or (iii) perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the CEO and/or the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. request MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the the· meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Chief Investment Officer and Senior Executive Vice President of MFA, reporting directly and solely to the Chief Executive Officer of MFA (the “CEO”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEO. (b) During the Term of Employment, the Executive shall, without additional compensation, also (i) serve on the board of directors of, (ii) serve as an officer of, and/or (iii) perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the CEO and/or the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-President and Chief Investment Executive Officer and Senior Vice President of MFA, reporting directly and solely to the Chief Executive Officer Board of Directors of MFA (the “CEOBoard of Directors”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEOBoard of Directors. (b) During the Term of Employment, the Executive shall, without additional compensation, also (i) serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, personal financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term (as defined in Section 2.01 below), Employee shall serve as SVP and General Manager of EmploymentEmployer (or, the Executive shall be employed as Co-Chief Investment Officer and Senior if requested by Employer, in such other position with a title of at least Vice President of MFAor its equivalent that is consistent with Employee’s education, reporting directly background and solely to the Chief Executive Officer of MFA (the “CEO”experience), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and well as in such other duties positions or capacities as may be mutually agreed upon between the Executive and the CEO. (b) During the Term of Employment, the Executive shall, without additional compensation, also serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as reasonably requested by the Board of Directors of MFA (the “Board of Directors”as defined below) or the CEO (as defined below) and shall have such duties and responsibilities as are customary for, and are consistent with, such position(s) as may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as be assigned by the “Company.” For purposes Board of this Agreement, the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act Directors of 1934, as amended Employer (the “ActBoard”). (c) During the Term of Employment, the Chief Executive Officer of Employer (the “CEO”) and/or the CEO’s nominee. Employee’s employment by Employer shall be full-time and exclusive to Employer and Employee shall (a) comply with Employer’s policies and procedures in place from time to time, and (b) serve MFA faithfully, diligently Employer faithfully and to the best of his ability Employee’s ability. During the Term, and except for vacation and other paid time off in accordance with the terms of Section 3.01(E) below or absences due to illness or incapacity, Employee shall devote substantially all of his Employee’s business time time, attention, skill and efforts exclusively to his employment the business and affairs of Employer (including its affiliates) and the performance promotion of its interests. Notwithstanding anything contained herein to the contrary, Employee may (i) engage in charitable, educational, religious, civic and similar types of activities and manage his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personalpersonal investments, financial and legal affairs, so long as provided that such activities do not materially interfere inhibit or prohibit the performance of Employee’s duties hereunder or inhibit or conflict with his carrying out his duties the business of Employer and/or its affiliates, and responsibilities under this Agreement(ii) with the consent of the Board (which consent shall not be unreasonably withheld), serve on the board of directors (or its equivalent) of one (1) other business enterprise.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Executive Vice President and Chief Investment Officer and Senior Vice President of MFA, reporting directly to each of the President and solely to the Chief Executive Officer of MFA (the “CEO”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive Executive, the President and the CEO. (b) During the Term of Employment, the Executive shall, without additional compensation, also (i) serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the President, the CEO and/or the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Chief Investment Officer and General Counsel, Senior Vice President - Business Development and Secretary of MFA, reporting directly and solely to the President and Chief Executive Officer of MFA (the “"CEO”)") and, with such authorityas such, duties and day-to-day management responsibilities as are customarily maintained and shall (i) perform, administer, manage, monitor and/or coordinate all legal services required to be performed by persons holding such offices at similarly situated mortgage REITs or on behalf of MFA and its subsidiaries, (ii) be responsible for analyzing, developing and implementing new business initiatives for MFA and its subsidiaries and (iii) perform such other duties of an executive, managerial or administrative nature as may shall be mutually agreed upon between specified and designated from time to time by the Executive and CEO and/or the CEOBoard of Directors of MFA (the "Board of Directors"). (b) During the Term of Employment, the Executive shall, without additional compensation, also serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the CEO and/or the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “"Company.” " For purposes of this Agreement, the term “"affiliate” " shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “"Act”"). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, personal financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the The Executive shall be employed as Co-Chief Investment Officer the Chairman and Senior Vice President of MFACEO, reporting directly and solely to the Chief Executive Officer Board of Directors of MFA (the “CEOBoard of Directors”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEO.Board of Directors (b) During the Term of Employment, the Executive shall, without additional compensation, also serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “"Company.” " For purposes of this Agreement, the term “"affiliate” " shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “"Act”"). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Executive Vice President and Chief Investment Officer and Senior Vice President of MFA, reporting directly to each of the President and solely to the Chief Executive Officer of MFA (the “CEO”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive Executive, the President and the CEO. (b) During the Term of Employment, the Executive shall, without additional compensation, also serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the President, the CEO and/or the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-President and Chief Investment Executive Officer and Senior Vice President of MFA, reporting directly and solely to the Chief Executive Officer Board of Directors of MFA (the “CEO”"Board of Directors"), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEOBoard of Directors. (b) During the Term of Employment, the Executive shall, without additional compensation, also (i) serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “"Company.” " For purposes of this Agreement, the term “"affiliate” " shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “"Act”"). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, personal financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Chief Investment Officer and Senior Vice the President of MFA, reporting directly and solely to the Chairman and Chief Executive Officer of MFA (the “CEO”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEO. (b) During the Term of Employment, the Executive shall, without additional compensation, also (i) serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the CEO and/or the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Chief Investment Officer and Senior Financial Officer/Executive Vice President of MFA, reporting directly and solely to the President and Chief Executive Officer of MFA (the “"CEO”"), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEO. (b) During the Term of Employment, the Executive shall, without additional compensation, also (i) serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the CEO and/or the Board of Directors of MFA (the “"Board of Directors”") or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “"Company.” " For purposes of this Agreement, the term “"affiliate” " shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “"Act”"). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, personal financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Chief Investment Officer and General Counsel, Senior Vice President – Business Development and Corporate Secretary of MFA, reporting directly and solely to the Chairman and Chief Executive Officer of MFA (the “"CEO”)") and, with such authorityas such, duties and day-to-day management responsibilities as are customarily maintained and shall (i) perform, administer, manage, monitor and/or coordinate all legal services required to be performed by persons holding such offices at similarly situated mortgage REITs or on behalf of MFA and its subsidiaries, (ii) be responsible for analyzing, developing and implementing new business initiatives for MFA and its subsidiaries and (iii) perform such other duties of an executive, managerial or administrative nature as may shall be mutually agreed upon between specified and designated from time to time by the Executive and CEO and/or the CEOBoard of Directors of MFA (the "Board of Directors"). (b) During the Term of Employment, the Executive shall, without additional compensation, also serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the CEO and/or the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “"Company.” " For purposes of this Agreement, the term “"affiliate” " shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “"Act”"). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-President and Chief Investment Financial Officer and Senior Vice President of MFA, reporting directly and solely to the Chairman and Chief Executive Officer of MFA (the “CEO”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEO. (b) During the Term of Employment, the Executive shall, without additional compensation, also (i) serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the CEO and/or the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the : (a) Executive shall will be employed as Co-Chief Investment Officer President and Senior Vice President of MFA, reporting directly and solely to the Chief Executive Officer of MFA OSM, reporting directly to the Board of Directors of OSM (the “CEOBoard of Directors”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs steel companies and such other duties as may be mutually agreed upon between the Executive and the CEOBoard of Directors. (b) During the Term of Employment, the Executive shallwill, without additional compensation, also (i) serve on the Board of Directors of OSM; and (ii) serve on the board of directors or management committees of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA OSM as the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA OSM and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall will serve MFA OSM faithfully, diligently and to the best of his ability and shall will devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall in this Agreement will preclude the Executive from engaging in charitable and community affairs and managing his personal, personal financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement. (d) The employment relationship of Executive will also be governed by the general employment policies and practices of the Company reasonably adopted from time to time, except to the extent inconsistent and in conflict with the terms of this Agreement. Executive agrees to execute and comply with the Company’s standard form of Confidentiality Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Chairman, President and Chief Investment Executive Officer and Senior Vice President of MFA, reporting directly and solely to the Chief Executive Officer Board of Directors of MFA (the “CEO”"Board of Directors"), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEOBoard of Directors. (b) During the Term of Employment, the Executive shall, without additional compensation, also (i) serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “"Company.” " For purposes of this Agreement, the term “"affiliate” " shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “"Act”"). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During The Executive shall be employed as Chairman, President and Chief Executive Officer until June 30, 2008. Effective July 1, 2008, and during the remainder of the Term of Employment, the Executive shall be employed as Co-Chief Investment Officer the Chairman and Senior Vice President of MFACEO, reporting directly and solely to the Chief Executive Officer Board of Directors of MFA (the “CEOBoard of Directors”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEOBoard of Directors. (b) During the Term of Employment, the Executive shall, without additional compensation, also serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “"Company.” " For purposes of this Agreement, the term “"affiliate” " shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “"Act”"). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Chief Investment Officer and Senior Executive Vice President of MFA, reporting directly and solely to the Chairman and Chief Executive Officer of MFA (the “CEO”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEO. (b) During the Term of Employment, the Executive shall, without additional compensation, also (i) serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the CEO and/or the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Chief Investment Officer and General Counsel, Senior Vice President – Business Development and Secretary of MFA, reporting directly and solely to the President and Chief Executive Officer of MFA (the “"CEO”)") and, with such authorityas such, duties and day-to-day management responsibilities as are customarily maintained and shall (i) perform, administer, manage, monitor and/or coordinate all legal services required to be performed by persons holding such offices at similarly situated mortgage REITs or on behalf of MFA and its subsidiaries, (ii) be responsible for analyzing, developing and implementing new business initiatives for MFA and its subsidiaries and (iii) perform such other duties of an executive, managerial or administrative nature as may shall be mutually agreed upon between specified and designated from time to time by the Executive and CEO and/or the CEOBoard of Directors of MFA (the "Board of Directors"). (b) During the Term of Employment, the Executive shall, without additional compensation, also serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the CEO and/or the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “"Company.” " For purposes of this Agreement, the term “"affiliate” " shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “"Act”"). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Chief Investment Officer and Senior Executive Vice President of MFA, reporting directly and solely to the Chairman and Chief Executive Officer of MFA (the “CEO”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEO. (b) During the Term of Employment, the Executive shall, without additional compensation, also serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the CEO and/or the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term (as defined in Section 2.01 below), Employee shall serve as VP Finance of EmploymentEmployer (or, the Executive shall be employed as Co-Chief Investment Officer and Senior if requested by Employer, in such other position with a title of at least Vice President of MFAor its equivalent that is consistent with Employee's education, reporting directly background and solely to the Chief Executive Officer of MFA (the “CEO”experience), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and well as in such other duties positions or capacities as may be mutually agreed upon between the Executive and the CEO. (b) During the Term of Employment, the Executive shall, without additional compensation, also serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as reasonably requested by the Board of Directors of MFA (the “Board of Directors”as defined below) or the CEO (as defined below) and shall have such duties and responsibilities as are customary for, and are consistent with, such position(s) as may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as be assigned by the “Company.” For purposes Board of this AgreementDirectors of Employer (the "Board"), the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act Chief Executive Officer of 1934, as amended Employer (the “Act”). "CEO") and/or the CEO's nominee. Employee's employment by Employer shall be full-time and exclusive to Employer and Employee shall (ca) During the Term of Employmentcomply with Employer's policies and procedures in place from time to time, the Executive shall and (b) serve MFA faithfully, diligently Employer faithfully and to the best of his ability Employee's ability. During the Term, and except for vacation and other paid time off in accordance with the terms of Section 3.01(E) below or absences due to illness or incapacity, Employee shall devote substantially all of his Employee's business time time, attention, skill and efforts exclusively to his employment the business and affairs of Employer (including its affiliates) and the performance promotion of its interests. Notwithstanding anything contained herein to the contrary, Employee may (i) engage in charitable, educational, religious, civic and similar types of activities and manage his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personalpersonal investments, financial and legal affairs, so long as provided that such activities do not materially interfere inhibit or prohibit the performance of Employee's duties hereunder or inhibit or conflict with his carrying out his duties the business of Employer and/or its affiliates, and responsibilities under this Agreement(ii) with the consent of the Board (which consent shall not be unreasonably withheld), serve on the board of directors (or its equivalent) of one (l) other business enterprise.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Chief Investment Officer and General Counsel, Senior Vice President – Business Development and Corporate Secretary of MFA, reporting directly and solely to the President and Chief Executive Officer of MFA (the “"CEO”)") and, with such authorityas such, duties and day-to-day management responsibilities as are customarily maintained and shall (i) perform, administer, manage, monitor and/or coordinate all legal services required to be performed by persons holding such offices at similarly situated mortgage REITs or on behalf of MFA and its subsidiaries, (ii) be responsible for analyzing, developing and implementing new business initiatives for MFA and its subsidiaries and (iii) perform such other duties of an executive, managerial or administrative nature as may shall be mutually agreed upon between specified and designated from time to time by the Executive and CEO and/or the CEOBoard of Directors of MFA (the "Board of Directors"). (b) During the Term of Employment, the Executive shall, without additional compensation, also serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the CEO and/or the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “"Company.” " For purposes of this Agreement, the term “"affiliate” " shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “"Act”"). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Chief Investment Officer and Senior Vice President of MFA, reporting directly and solely to the Chief Executive Officer of MFA (the “CEO”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEO. (b) During the Term of Employment, the Executive shall, without additional compensation, also serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Chief Investment Officer and General Counsel, Senior Vice President and Corporate Secretary of MFA, reporting directly and solely to the Chief Executive Officer of MFA (the “"CEO”)") and, with such authorityas such, duties and day-to-day management responsibilities as are customarily maintained and shall (i) perform, administer, manage, monitor and/or coordinate all legal services required to be performed by persons holding such offices at similarly situated mortgage REITs or on behalf of MFA and its subsidiaries, and (ii) perform such other duties of an executive, managerial or administrative nature as may shall be mutually agreed upon between specified and designated from time to time by the Executive and CEO and/or the CEOBoard of Directors of MFA (the "Board of Directors"). (b) During the Term of Employment, the Executive shall, without additional compensation, also serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the CEO and/or the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “"Company.” " For purposes of this Agreement, the term “"affiliate” " shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “"Act”"). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Chief Investment Officer and Senior Executive Vice President of MFA, reporting directly and solely to the President and Chief Executive Officer of MFA (the “"CEO”"), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEO. (b) During the Term of Employment, the Executive shall, without additional compensation, also (i) serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the CEO and/or the Board of Directors of MFA (the “"Board of Directors”") or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “"Company.” " For purposes of this Agreement, the term “"affiliate” " shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “"Act”"). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, personal financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Chief Investment Officer and Senior Financial Officer/Executive Vice President of MFA, reporting directly and solely to the President and Chief Executive Officer of MFA the (the “CEO”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEO. (b) During the Term of Employment, the Executive shall, without additional compensation, also (i) serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the CEO and/or the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, personal financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.

Position, Duties and Responsibilities. (a) During the Term of Employment, the Executive shall be employed as Co-Chief Investment Officer and Senior Financial Officer/Executive Vice President of MFA, reporting directly and solely to the President and Chief Executive Officer of MFA (the “CEO”), with such authority, duties and day-to-day management responsibilities as are customarily maintained and performed by persons holding such offices at similarly situated mortgage REITs and such other duties as may be mutually agreed upon between the Executive and the CEO. (b) During the Term of Employment, the Executive shall, without additional compensation, also (i) serve on the board of directors of, serve as an officer of, and/or perform such executive and consulting services for, or on behalf of, such subsidiaries or affiliates of MFA as the CEO and/or the Board of Directors of MFA (the “Board of Directors”) or the CEO may, from time to time, request. MFA and such subsidiaries and affiliates are hereinafter referred to, collectively, as the “Company.” For purposes of this Agreement, the term “affiliate” shall have the meaning ascribed thereto in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Act”). (c) During the Term of Employment, the Executive shall serve MFA faithfully, diligently and to the best of his ability and shall devote substantially all of his business time and efforts to his employment and the performance of his duties under this Agreement. Nothing herein shall preclude the Executive from engaging in charitable and community affairs and managing his personal, financial and legal affairs, so long as such activities do not materially interfere with his carrying out his duties and responsibilities under this Agreement.