Common use of TRSUs Clause in Contracts

TRSUs. Each annual grant of TRSUs will provide for a grant of TRSUs with respect to 30,000 shares of MFA common stock. The TRSUs will become fully vested on the third December 31 following the date of grant; provided that the Executive remains employed for the entire vesting period and subject to vesting as described in Sections 5(a), 5(b), 5(c) and 5(g) of the Agreement. Any unvested TRSUs shall be forfeited as of the date of Executive’s termination of employment, except as provided in Sections 5(a), 5(b), 5(c), and 5(g) of the Agreement. Within 30 days following the date on which the TRSUs vest, the Executive will receive one share of common stock of MFA for each TRSU that vests. In the event that dividends are declared with respect to the common stock of MFA during the period in which the TRSUs are outstanding, the Executive shall receive a cash payment equal to the amount of dividends that the Executive would have received if the Executive had owned a number of shares of common stock of MFA equal to the number of outstanding TRSUs as of the date on which the dividend is declared. Such payment shall be made within 30 days after the date on which the dividend is paid on MFA stock.

TRSUs. Each annual grant of TRSUs will provide for a grant of TRSUs with respect to 30,000 70,000 shares of MFA common stock. The TRSUs will become fully vested on the third December 31 following the date of grant; provided that the Executive remains employed for the entire vesting period and subject to vesting as described in Sections 5(a), 5(b), 5(c) and 5(g) of the Agreement. Any unvested TRSUs shall be forfeited as of the date of Executive’s termination of employment, except as provided in Sections 5(a), 5(b), 5(c), 5(d) and 5(g) of the Agreement. Within 30 days following the date on which the TRSUs vest, the Executive will receive one share of common stock of MFA for each TRSU that vests. In the event that dividends are declared with respect to the common stock of MFA during the period in which the TRSUs are outstanding, the Executive shall receive a cash payment equal to the amount of dividends that the Executive would have received if the Executive had owned a number of shares of common stock of MFA equal to the number of outstanding TRSUs as of the date on which the dividend is declared. Such payment shall be made within 30 days after the date on which the dividend is paid on MFA stock.

TRSUs. Each annual grant of TRSUs will provide for a grant of TRSUs with respect to 30,000 82,500 shares of MFA common stock. The TRSUs will become fully vested on the third December 31 following the date of grant; provided that the Executive remains employed for the entire vesting period and subject to vesting as described in Sections 5(a), 5(b), 5(c) and 5(g) of the Agreement. Any unvested TRSUs shall be forfeited as of the date of Executive’s termination of employment, except as provided in Sections 5(a), 5(b), 5(c), 5(d) and 5(g) of the Agreement. Within 30 days following the date on which the TRSUs vest, the Executive will receive one share of common stock of MFA for each TRSU that vests. In the event that dividends are declared with respect to the common stock of MFA during the period in which the TRSUs are outstanding, the Executive shall receive a cash payment equal to the amount of dividends that the Executive would have received if the Executive had owned a number of shares of common stock of MFA equal to the number of outstanding TRSUs as of the date on which the dividend is declared. Such payment shall be made within 30 days after the date on which the dividend is paid on MFA stock.