Company: CIMO
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001206774-25-000244
Chunk: 35

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 35
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 compensation
opportunities intended to directly link the amount of total direct compensation received by each named executive officer to Company performance
over one- and three-year periods. Compared to the pre-2023 employment agreements for the named executive officers, the Employment Agreements
place a greater emphasis on equity-based variable pay and incorporate different incentive design provisions, including the following:

| ● | One-year, rather than three-year, employment agreement terms;                                                                                                                                                                                        |
| ● | A compensation mix which is more heavily weighted toward stock-based compensation with the average percentage of target long-term incentive based stock awards representing approximately 52% of total compensation of the named executive officers; |
| ● | A maximum multiple for the annual cash incentive (also referred to as an annual cash bonus) that is limited to 200% of the target;                                                                                                                   |
| ● | Use of Company and individual performance metrics for the 2024 annual cash bonus; and                                                                                                                                                                |
| ● | Use of Company performance metrics for the performance share units (“PSUs”) granted in 2024.                                                                                                                                                         |

<div align='center'>17</div>

The key performance metrics as defined in the Employment
Agreements are as follows:

| ● 
 ● | Company ROE and Relative ROE — Company ROE means (i) Company Return for the Annual Cash Bonus Measurement Period, divided by (ii) Company average equity for the four quarters beginning on October 1, 2023 and ending on September 30, 2024 (the “Annual Cash Bonus Measurement Period”). Relative ROE means Company ROE as such amount stands in relation to the return on average equity (determined in the same way that the Company ROE is determined) for the Annual Cash Bonus Measurement Period of the entities (other than the Company) included in the iShares Mortgage Real Estate ETF Group. Company Return means, for purposes of calculating Company ROE, the Company’s net income as determined in accordance with GAAP and shown on the Company’s quarterly and annual financial statements as filed with the Securities and Exchange Commission, but excluding non-cash, non-operating expense items such as depreciation expense, amortization of goodwill and other non-cash, non-operating expense items as determined by the compensation committee in its sole discretion for the Annual Cash Bonus Measurement Period. For the avoidance of doubt, any realized and/or unrealized gains or losses from hedging instruments are not excluded from the calculation of Company Return.1 
 Company TSR and Relative TSR — Company TSR means for the Annual Cash Bonus Measurement