Company: ARI
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001193125-25-104054
Chunk: 54

Company: Apollo Commercial Real Estate Finance, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 54
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 was inadvertently filed late with respect to a December 2024 grant of restricted stock units and a Form 4 for Carmencita N.M. Whonder was inadvertently filed late with respect to a May 2024 sale of shares.

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CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS**</div>

**Since the beginning of our last fiscal year, we have not been a party to any transaction or proposed transaction with any related person who is (i) one of our directors or executive officers, (ii) a director nominee, (iii) a beneficial owner of more than 5% of the Common Stock or (iv) any member of the immediate family of any of the foregoing persons that involves an amount exceeding $120,000 and in which any such related person had or will have a direct or indirect material interest, other than as described below.

Management Agreement

In connection with our initial public offering in September 2009, we entered into our Management Agreement with our Manager, which describes the services to be provided by our Manager and its compensation for those services. Our business is managed by our Manager, subject to the supervision and oversight of our board of directors, which has established investment guidelines for our Manager to follow in its day-to-day management of our business.

Pursuant to the terms of our Management Agreement, our Manager is paid a management fee equal to 1.5% per annum of our stockholders’ equity (as defined in our Management Agreement), calculated and payable (in cash) quarterly in arrears.

The current term of our Management Agreement expires on September 29, 2025 and will automatically renew on each anniversary for a one year term unless at least two-thirds of our Company’s independent directors vote to terminate our Management Agreement based upon (1) unsatisfactory performance by our Manager that is materially detrimental to our Company or (2) a determination that the management fee payable to our Manager is not fair, subject to our Manager’s right to prevent such a termination based on unfair fees by accepting a mutually acceptable reduction of management fees agreed to by at least two-thirds of our Company’s independent directors. Our Manager must be provided with written notice of any such termination at least 180 days prior to the expiration of the then existing term and will be paid a termination fee equal to three times the sum of the average annual management fee during the 24 month period immediately preceding the date of termination, calculated as of the end of the most recently completed fiscal quarter prior to