Company: NXDT
Filing Date: 2025-04-25
Form Type: 424B3
Source: 0001437749-25-013177
Chunk: 409

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-04-25
Form: 424B3
Chunk 409
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 this NexPoint Diversified Real Estate Trust 2023 Long Term Incentive Plan (the “Plan”) is to enable the Company and other Company Group Members to attract and retain trustees, officers and other key employees and advisors and to provide to such persons incentives and rewards for performance. This Plan constitutes an amendment and restatement (the “Amendment and Restatement”) of the NexPoint Diversified Real Estate Trust 2023 Long Term Incentive Plan, as originally adopted effective January 30, 2023 (the “Original Plan”), subject to shareholder approval of the Amendment and Restatement.

2.Definitions. As used in this Plan:

(a) “Adviser” means NexPoint Real Estate Advisors X, L.P., or any subsequent external adviser to the Company hired to perform similar services.

(b) “Adviser Affiliate” means any corporation, partnership, joint venture or other entity, directly or indirectly, through one or more intermediaries, controlling, controlled by, or under common control with the Adviser.

(c) “Affiliate” means any corporation, partnership, joint venture or other entity, directly or indirectly, through one or more intermediaries, controlling, controlled by, or under common control with the Company as determined by the Committee or the Board, as applicable, in its discretion. For purposes of this Plan, “Affiliate” includes the Adviser and the Operating Partnership.

(d) “Amendment and Restatement” has the meaning set forth in the preamble.

(e) “Appreciation Right” means a right granted pursuant to Section 5 of this Plan.

(f) “Award Agreement” means an agreement, certificate, resolution or other type or form of writing or other evidence approved by the Committee that sets forth the terms and conditions of the awards granted under the Plan. An Award Agreement may be in an electronic medium, may be limited to notation on the books and records of the Company and, unless otherwise determined by the Committee, need not be signed by a representative of the Company or a Participant.

(g) “Base Price” means the price to be used as the basis for determining the Spread upon the exercise of an Appreciation Right.

(h) “Board” means the Board of Trustees of the Company.

(i) “Cash Incentive Award” means a cash award granted pursuant to Section 8 of this Plan.

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(j) “Cause” means the following, unless otherwise provided in an Award Agreement: (i) a material