Company: BHM
Filing Date: 2025-10-08
Form Type: S-11
Source: 0001104659-25-097905
Chunk: 205

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-10-08
Form: S-11
Chunk 205
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 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.

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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, respectively. In addition, the lead independent director and audit committee chairman will each
receive annual retainers of