Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 222

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 222
---
 value of the other securities or property in which a Performance Unit or Other Equity-Based Award is
denominated. However, in the case of Options and SARs, if the option price or Initial Value exceeds the price per share of our common
stock received by stockholders in the change in control transaction, the Option or SAR may be cancelled without any payment to the holder.

<div align='center'>140</div>

In summary, a change in control
under the BHM Incentive Plans occurs if:

| · | a person, entity or affiliated                                                                                                            
 group (with certain exceptions) acquires, in a transaction or series of transactions, more than 30% of the total combined voting          
 power of our outstanding securities;                                                                                                      |
| · | there occurs a merger,                                                                                                                    
 consolidation, reorganization, or business combination, unless the holders of our voting securities immediately prior to such transaction 
 have more than 50% of the combined voting power of the securities in the successor entity or its parent;                                  |

| · | we (i) sell or dispose                                                                                                              
 of all or substantially all of our assets or (ii) acquire assets or stock of another entity, unless the holders of our voting       
 securities immediately prior to such transaction have more than 50% of the combined voting power of the securities in the successor 
 entity or its parent; or                                                                                                            |

| · | during any period of twelve                                                                                                             
 consecutive months, individuals who, at the beginning of such period, constitute our board of directors together with any new directors 
 (other than individuals who become directors in connection with certain transactions or election contests) cease for any reason to      
 constitute a majority of our board of directors.                                                                                        |

The Code has special rules that
apply to “parachute payments,” i.e., compensation or benefits the payment of which is contingent upon a change in control.
If certain individuals receive parachute payments in excess of a safe harbor amount prescribed by the Code, the payor is denied a U.S.
federal income tax deduction for a portion of the payments and the recipient must pay a 20% excise tax, in addition to income tax, on
a portion of the payments.

If we experience a change
in control, benefits provided under the BHM Incentive Plans could be treated as parachute payments. In that event, the BHM Incentive
Plans provide that the benefits under the BHM Incentive Plans, and all other parachute payments provided under other plans and agreements,
will be