0001157523-13-003241 Sample Contracts

MANAGEMENT AGREEMENT
Management Agreement • July 2nd, 2013 • Annaly Capital Management Inc • Real estate investment trusts • New York

THIS MANAGEMENT AGREEMENT is made as of June 26, 2013 by and among Annaly Management Company LLC, a Delaware limited liability company (together with its permitted assignees, the “Manager”), ANNALY CAPITAL MANAGEMENT, INC., a Maryland corporation (the “Company”), and each Subsidiary (as defined below) of the Company that becomes a party to the Agreement (as defined below) pursuant to Section 29, and shall become effective and binding on the Manager and the Company as of July 1, 2013 (the “Effective Date”).

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ANNALY CAPITAL MANAGEMENT, INC. TERMINATION AGREEMENT
Termination Agreement • July 2nd, 2013 • Annaly Capital Management Inc • Real estate investment trusts

WHEREAS, on May 23, 2013, the stockholders of the Company approved the entry into a management agreement with Annaly Management Company LLC (the “Manager”) under which the Manager will take responsibility for the management of Annaly effective July 1, 2013 (the “Effective Date”); and

ANNALY CAPITAL MANAGEMENT, INC. TERMINATION AGREEMENT
Termination Agreement • July 2nd, 2013 • Annaly Capital Management Inc • Real estate investment trusts

WHEREAS, on May 23, 2013, the stockholders of the Company approved the entry into a management agreement with Annaly Management Company LLC (the “Manager”) under which the Manager will take responsibility for the management of Annaly effective July 1, 2013 (the “Effective Date”); and

ANNALY CAPITAL MANAGEMENT, INC. TERMINATION AGREEMENT
Termination Agreement • July 2nd, 2013 • Annaly Capital Management Inc • Real estate investment trusts

WHEREAS, on May 23, 2013, the stockholders of the Company approved the entry into a management agreement with Annaly Management Company LLC (the “Manager”) under which the Manager will take responsibility for the management of Annaly effective July 1, 2013 (the “Effective Date”); and

ANNALY CAPITAL MANAGEMENT, INC. TERMINATION AGREEMENT
Termination Agreement • July 2nd, 2013 • Annaly Capital Management Inc • Real estate investment trusts

WHEREAS, on May 23, 2013, the stockholders of the Company approved the entry into a management agreement with Annaly Management Company LLC (the “Manager”) under which the Manager will take responsibility for the management of Annaly effective July 1, 2013 (the “Effective Date”); and

ANNALY CAPITAL MANAGEMENT, INC. TERMINATION AGREEMENT
Termination Agreement • July 2nd, 2013 • Annaly Capital Management Inc • Real estate investment trusts

WHEREAS, on May 23, 2013, the stockholders of the Company approved the entry into a management agreement with Annaly Management Company LLC (the “Manager”) under which the Manager will take responsibility for the management of Annaly effective July 1, 2013 (the “Effective Date”); and

ANNALY CAPITAL MANAGEMENT, INC. TERMINATION AGREEMENT
Termination Agreement • July 2nd, 2013 • Annaly Capital Management Inc • Real estate investment trusts

WHEREAS, on May 23, 2013, the stockholders of the Company approved the entry into a management agreement with Annaly Management Company LLC (the “Manager”) under which the Manager will take responsibility for the management of Annaly effective July 1, 2013 (the “Effective Date”); and

ANNALY CAPITAL MANAGEMENT, INC. TERMINATION AGREEMENT
Termination Agreement • July 2nd, 2013 • Annaly Capital Management Inc • Real estate investment trusts

WHEREAS, on May 23, 2013, the stockholders of the Company approved the entry into a management agreement with Annaly Management Company LLC (the “Manager”) under which the Manager will take responsibility for the management of Annaly effective July 1, 2013 (the “Effective Date”); and

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