Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2592

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2592
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 all of which together shall be deemed to be one and the same instrument.

(i) This Agreement shall be governed by and construed in accordance with the internal substantive laws of the State of Maryland.

(j) . Any notice to be given by the Participant under the terms of this Agreement shall be addressed to Matthew McGranerat the Company’s address set forth in attached hereto. Any notice to be given to the Participant shall be addressed to him or her at the Participant’s then current address on the books and records of the Company. By a notice given pursuant to this , either party may hereafter designate a different address for notices to be given to such party. Any notice which is required to be given to the Participant shall, if the Participant is then deceased, be given to the Participant’s personal representative if such representative has previously informed the Company of his or her status and address by written notice under this (and the Company shall be entitled to rely on any such notice provided to it that it in good faith believes to be true and correct, with no duty of inquiry). Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal delivery or upon deposit in the United States mail by certified mail, with postage and fees prepaid, addressed as set forth above or upon confirmation of delivery by a nationally recognized overnight delivery service.

<div align='center'>[Signature Page Follows]

8

I-2080</div>

IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first above written.

| VINEBROOK HOMES TRUST, INC. |        |
|                             | By:    |
|                             | Name:  |
|                             | Title: |

The Participant hereby accepts and agrees to be bound by all of the terms and conditions of this Agreement.

| Brian Mitts |

<div align='center'>[Signature Page to Amended and Restated Restricted Stock

Units Agreement]

I-2081

Vesting Schedule and Notice Address</div>

12.5% on the first anniversary of the Grant Date.

12.5% on the second anniversary of the Grant Date.

12.5% on the third anniversary of the Grant Date.

12.5% on the fourth anniversary of the Grant Date.

[50% on the date of the successful completion of an initial public offering of shares of common stock of VineBrook Homes Trust, Inc. or 50% on the date of the closing of the initial public offering of VineBrook Homes Trust