Company: CIMO
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001206774-25-000244
Chunk: 56

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 56
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awarded incentive compensation that was received based on the restated financial results. Each officer to whom the incentive compensation
recovery policy applies entered into an acknowledgement and agreement of the policy.

Severance Protection under the Employment Agreements

Each Employment Agreement includes
certain severance payments and benefits for the named executive officer in case of involuntary termination during the term of the agreement,
including termination by us without cause or termination by the executive for certain adverse changes in employment conditions (referred
to as “good reason”). The amount and form of such severance benefits depends on whether the involuntary termination occurs
in connection with a change in control or not. No severance is provided for a voluntary termination (not for good reason) or involuntary
termination for cause. We do not believe that the severance benefits provided are excessive. More detail (including estimated quantifiable
amounts) is provided under “Potential Payments upon Termination or Change in Control.”

The Employment Agreements also
include a 90-day advanced notice requirement for the executive to resign and certain post- employment covenants, including customary non-solicitation
and non-competition covenants for twelve months post-employment, and customary non-disparagement and confidentiality restrictions.

The compensation committee believes
that these severance provisions serve the interests of stockholders by encouraging stability among our management team. The change in
control protections also help to ensure that management will be able to fairly review any possible business combinations. The compensation
committee believes that the severance protections in the employment agreements reflect current best practices, including (i) no 280G excise
tax gross-ups, (ii) reasonable levels of severance compensation, (iii) no single-trigger (or “modified” single trigger) rights
to severance (including equity vesting) and (iv) performance-based awards remain subject to performance conditions.

<div align='center'>31</div>

Timing of Equity Grants Equity Awards, including RSUs and PSUs, and to the extent applicable, options or awards with option-like features are granted to NEOs generally during the first quarterof each year at a regularly scheduled compensation committee meeting. Dates for compensation committee meetings are usually set during the prior year, and the timing of meetings and awards is unrelated to the release of material non-public information. We also do not timethe release of material nonpublic information based on equity award grant dates.

<div align='center'>Compensation Committee Report</div>

Our compensation committee
has reviewed and discussed the Compensation Discussion and Analysis required