  We propose a generalized stochastic Landau-Lifshitz equation and its
corresponding Fokker-Planck equation for the magnetization dynamics in the
presence of spin transfer torques. Since the spin transfer torque can pump a
magnetic energy into the magnetic system, the equilibrium temperature of the
magnetic system is ill-defined. We introduce an effective temperature based on
a stationary solution of the Fokker-Planck equation. In the limit of high
energy barriers, the law of thermal agitation is derived. We find that the
N\'{e}el-Brown relaxation formula remains valid as long as we replace the
temperature by an effective one that is linearly dependent of the spin torque.
We carry out the numerical integration of the stochastic Landau-Lifshitz
equation to support our theory. Our results agree with existing experimental
data.
