Company: MFAN
Filing Date: 2025-04-18
Form Type: DEF 14A
Source: 0001140361-25-014577
Chunk: 156

Company: MFA FINANCIAL, INC.
Filing Date: 2025-04-18
Form: DEF 14A
Chunk 156
---
UCIARY RELATIONSHIP. Nothing contained in the Plan (including without limitation Section 10(e)(ii)), and no action taken pursuant to the provisions of the Plan, shall create or shall be construed to create a trust of any kind, or a fiduciary

| MFA Financial, Inc. | E-19 | 2025 Proxy Statement |

TABLE OF CONTENTS relationship between the Company, the Participating Companies, or their directors or officers or the Committee, on the one hand, and the Grantee, the Company, the Participating Companies or any other person or entity, on the other. 30. CAPTIONS. The use of captions in the Plan is for convenience. The captions are not intended to provide substantive rights. 31. GOVERNING LAW. The Plan shall be governed by the laws of Maryland, without reference to principles of conflict of laws. 32. EXECUTION. The Company has caused this amended and restated Plan to be executed in the name and on behalf of the Company by an officer of the Company thereunto duly authorized as of this [ ] day of June, 2025. MFA FINANCIAL, INC., a Maryland corporation By: Name: Harold E. Schwartz Title: Secretary

| MFA Financial, Inc. | E-20 | 2025 Proxy Statement |

TABLE OF CONTENTS

EXHIBIT A PERFORMANCE CRITERIA Performance-Based Grants may be granted, exercised and/or settled based upon the attainment of objective Performance Goals that are established by the Committee and relate to one or more Performance Criteria, in each case on a specified date or over any period, up to 10 years, as determined by the Committee. Performance Criteria may be based on the achievement of specified levels of performance or achievement relative to the performance of one or more other corporations or indices. “Performance Criteria” means the following business criteria (or any combination thereof) or any other criteria determined by the Committee with respect to one or more of the Company, any Participating Company or any division or operating unit thereof:

| (i) | pre-tax income, |

| (ii) | after-tax income, |

| (iii) | net income (meaning net income as reflected in the Company’s financial reports for the applicable period, on an aggregate, diluted and/or per share basis), |

| (iv) | operating income, |

| (v) | cash flow, |

| (vi) | earnings per share, |

| (vii) | return on equity or return