Company: CIMO
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001206774-25-000244
Chunk: 66

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 66
---
 the three most recent calendar years.

(2) Value of Accelerated and Continued Equity Awards and Pro-Rata Bonus:For each executive, the amount represents the aggregate value resulting
from the (a) immediate full vesting of all outstanding equity-based compensation previously granted other than the PSUs; (b) the immediate
full vesting of all PSUs that are eligible to vest solely on the basis of continued employment and any outstanding PSUs whose vesting
after such Change in Control remains contingent on performance will continue to vest, subject only to attainment by the Company of the
applicable performance goals; and (c) a pro-rata portion of the Annual Cash Bonus he would have earned for the year of termination based
on the Company’s relevant performance metrics, payable at the time such Annual Cash Bonus would have been paid to the executive
for such year absent such termination but no later than March 15 of the immediately following year.

(3) Other Benefits: For each of the named executive officers, 100% of the COBRA premiums incurred by such named executive officer and his eligible dependents under the Company’s healthcare plan during the 18-month period following the named executive officer’s termination of employment.

| (d) | Qualifying Retirement |

If the named executive officer’s service with the
Company is terminated because of the named executive officer’s “Qualifying Retirement,” (i) the PSUs continue to
vest in accordance with their terms (time and performance requirements) as though such termination of service had not occurred
provided that the executive complies with any applicable post-employment covenants, and (ii) the RSUs vest immediately.
“Qualifying Retirement” means the named executive officer’s termination of service with the Company or the Company
terminates his or her employment without cause, in each case at any time after the named executive officer has attained age 55, and
the sum of his or her age and years of service with the Company is equal to at least 65 with at least five years of service with the
Company (including any predecessor), other than termination due to death, Disability, or for “Cause.” Currently, Mr.
Kardis meets this condition.

For a discussion of the Employment Agreements,
see “Compensation Discussion and Analysis.”

To receive the severance benefits
discussed above, the named executive officers must comply with the covenants in the Employment Agreements, which include confidentiality,
non-disparagement, and 12-month non-compete and non-s