Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 226

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 226
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 to receive such fees in the form of Deferred Units. The Board, on the recommendation of the Compensation, Governance and Nominating Committee matched 100% of the total value of Trustee Fees that Mr. Patava elected to receive in the form of Deferred Units. Due to various blackout periods observed by NHT and certain restrictions on granting security based compensation to insiders pursuant to TSXV Policy 4.4, on September 11, 2023, the REIT conditionally granted 200,000 Deferred Units to Mr. Patava in respect of his remaining portion of his 2022 Trustee Fees and 2023 Trustee Fees (accrued as of June 30, 2023). The Board, on the recommendation of the Compensation, Governance and Nominating Committee, matched 100% of the total value of Trustee Fees that Mr. Patava elected to receive in the form of Deferred Units. As a result of the Suspension, the fees owing to Mr. Patava for Q3 and Q4 of 2023 that would have been paid in Deferred Units (including the matching contribution amount) were paid in cash. As of the date hereof, Mr. Patava holds 200,000 Deferred Units.

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| Advisory and Management Agreements |

| Advisory Agreement |

Pursuant to the Advisory Agreement, subject to the overall supervision of the Board, the Advisor manages the day-to-day operations of, and provides investment management services to NHT. As consideration for the Advisor’s services, NHT pays to the Advisor an Advisory Fee at an annualized rate of 1.00% of REIT Asset Value (as defined therein), less certain fee waivers and adjustments, together with reimbursement of certain general and administrative expenses. The Advisory Agreement has an initial term of two years. Following the initial term, the Advisory Agreement will continue in full force and effect, subject to early termination, so long as such continuance is approved at least annually by (i) the board of managers of NHH, and (ii) either (a) the Board or (b) a vote of the Unitholders.

On April 29, 2020, in light of developments related to the outbreak of COVID-19 and corresponding impact on the hospitality industry, the Advisor agreed to waive the Advisory Fee and certain expenses provided for in the Advisory Agreement until operations of NHT and NHH stabilized. On November 25, 2020, the Advisor reinstated the