Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 203

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 203
---
 or offset any decrease in the market value of company securities owned
by the individual directly or indirectly, including prepaid variable forward contracts, equity swaps, collars and exchange funds; and
frequent trading to take advantage of fluctuations in share price.

Clawback Policy

Our compensation committee
has adopted a policy on the possible recoupment, or “clawback,” of Incentive Fees from our Manager. The policy will be invoked
in the event that (a) the company is required to restate its financial statements due to material noncompliance with any financial
reporting requirement under U.S. federal securities laws (whether or not based on fraud or misconduct) and the board of directors or
the compensation committee has not determined that such restatement (i) is required or permitted under GAAP in connection with the
adoption or implementation of a new accounting standard, or (ii) was caused by the company’s decision to change its accounting
practice, as permitted by applicable law, and (b) the performance measurement period with respect to such Incentive Fees includes
one or more fiscal periods affected by such restatement.

<div align='center'>102</div>

In such event, under the
terms of the policy, our board of directors or the compensation committee will determine whether, within three (3) completed fiscal
years preceding the restatement date and any interim period, our Manager received Incentive Fees in excess of the amount to which it
would otherwise have been entitled based on the restated financial statements (such excess amount, “Excess Compensation”).
If the board of directors or the compensation committee determines that our Manager received Excess Compensation, the company will be
entitled to recover such Excess Compensation from the Manager, and our board of directors or the compensation committee, in its sole
discretion and subject to applicable law, will take such action as it deems necessary to recover such Excess Compensation. Such actions
may include requiring repayment or return of prior Incentive Fees paid to our Manager, including Incentive Fees not affected by the accounting
restatement, or adjusting the amounts of future fees payable to our Manager.

Compensation of Directors and Officers

Director Compensation

Based on discussions with
and assistance from Farient Advisors (“Farient”), a nationally-known independent executive compensation and benefits consulting
firm, the compensation committee has established a compensation program for our independent directors consisting of annual cash and equity
retainers equal to $50,000 and $75,000,