Average Performance Bonus

Average Performance Bonus. Shall mean the average Performance Bonus payable to the Executive with respect to the three years preceding the year in which the Executive's termination of employment occurs. For purposes of determining the Average Performance Bonus, if any portion of the Performance Bonus was paid in the form of equity, the full amount of such Performance Bonus (valued, for the avoidance of doubt, as of the date such equity was granted) shall be taken into account as if paid entirely in cash.

Average Performance Bonus. Shall mean the average Performance Bonus (or, for years prior to 2010, the annual bonus) payable to the Executive with respect to the three years preceding the year in which the Executive's termination of employment occurs; provided that, if the Executive was not an employee of MFA during one or more of such three preceding years, such year(s) shall not be taken into account in calculating the Average Performance Bonus. For purposes of determining the Average Performance Bonus, if any portion... of the Performance Bonus (or annual bonus for years prior to 2010) was paid in the form of equity, the full amount of such Performance Bonus (or annual bonus) shall be taken into account as if paid entirely in cash. View More