Company: BHM
Filing Date: 2025-03-28
Form Type: POS AM
Source: 0001104659-25-029225
Chunk: 213

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-28
Form: POS AM
Chunk 213
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 successor entity, or the applicable affiliate thereof from the date of such change
in control until the date of such termination of employment or service.

Any performance-based awards
so assumed or replaced with substitute awards in connection with the change in control will be of the same type of award as the original
performance-based awards, and will have a value, as of the date of such change in control, that is substantially equal to the value of
the original performance-based awards. In addition, such assumed or substituted performance-based awards will continue to vest in accordance
with the terms and conditions of the original performance-based awards being assumed or replaced; provided, that the performance
objectives and measures of the original performance-based awards being assumed or replaced shall be adjusted as the administrator determines
is equitably required. Notwithstanding the preceding sentence (and solely with respect to assumed or substitute awards for performance-based
awards originally granted under the BHM Individuals Plan), if (A) the holder’s employment with the company, the successor
entity, or an affiliate thereof is terminated (i) involuntarily without cause, (ii) following non-renewal of the employment
agreement, if any, between the holder and the company, the successor entity or the applicable affiliate thereof (if the holder
has an employment agreement requiring accelerated vesting in such case), (iii) voluntarily by the holder with good reason, or (iv) on
account of the holder’s death or disability, and (B) the holder remained in the continuous employ of the company, the successor
entity or the applicable affiliate thereof from the date of such change in control until the date of such termination of employment, then
the assumed or substituted performance-based awards will automatically become vested with respect to a pro rata number of the shares or
other securities subject to such assumed or substituted performance-based awards based on the extent to which the performance or other
objectives are achieved as of the date of such termination of employment or service. Any portion of any such performance-based awards
that does not become so vested will be forfeited.

On the date of such change
in control, all outstanding awards under the BHM Incentive Plans that are not assumed or replaced with substitute awards in connection
with the change in control will become fully vested, provided that any performance-based awards will vest at the greater of (A) the
applicable target level and (B) the level of achievement of the performance objectives for the award as determined by the administrator
taking into account performance