Company: CIMO
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001206774-25-000244
Chunk: 37

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 37
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dowell with respect to the remaining portion of 2024 and Mr. Yarlagadda
due to his retirement) provide that the incentive compensation opportunity has variable components based on the key performance metrics
defined above, including:

| ● | annual cash bonuses with payouts ranging from 0% to 200% of the applicable target amount, which payout is based: |

| ▪ | 35% on Relative ROE performance, subject to adjustment based on Company ROE, with cap based on the Company’s ROE performance for the Annual Cash Bonus Measurement Period, |
| ▪ | 35% on Relative Economic Return performance with cap based on the Company’s Economic Return performance for the Annual Cash Bonus Measurement Period, and                  |
| ▪ | 30% based on achievement of the strategic goals by each named executive officer during the 2024 calendar year; and                                                         |

1See Appendix I for additional information on the calculation of ROE in relation to GAAP reported results.

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| ● | long-term incentives, |

| ▪ | 50% of which is in the form of a restricted stock unit (“RSU”) award that vests ratably over 3 years, and                                                                                                                                                                                                                                                                                                                                                    |
| ▪ | 50% of which is in the form of a performance stock unit (“PSU”) award that cliff vests in 3 years based on performance over the LTI Measurement Period with payouts ranging from 0% to 200% of the target for three-year PSU awards, based 50% on Relative Economic Return, with cap based on the Company’s Economic Return for the LTI Measurement Period, and 50% on Relative TSR, with cap based on the Company’s TSR for the LTI Measurement Period; and |

| ● | to the extent earned, is delivered in a balanced mix of cash and equity awards that include additional vesting requirements, to further encourage retention and alignment of executive officer interests with the long-term interests of our stockholders. |

Because Mr. Macdowell joined
the Company in December 2024, he received a base salary based on the number of days he was employed by the Company in 2024. Mr. Macdowell
was also eligible to receive a prorated fixed annual bonus for 2024, but he voluntarily waived his entitlement to that prorated bonus.
Per SEC rules, that prorated bonus amount is nonetheless included as 2024 compensation in the Summary Compensation Table. Starting in