Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 214

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 214
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 a majority of our board of directors.                                                                      |

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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 reduced to the safe harbor amount, i.e., the maximum amount that may be paid without excise tax liability or loss of deduction,
if the reduction allows the participant to receive greater after-tax benefits. The benefits under the BHM Incentive Plans and other plans
and agreements will not be reduced, however, if the participant will receive greater after-tax benefits (taking into account the 20%
excise tax payable by the participant) by receiving the total benefits. The BHM Incentive Plans also provide that these provisions do
not apply to a participant who has an agreement with us providing that the participant cannot receive payments in excess of the safe
harbor amount.

Clawback Policy

Any award granted under
the BHM Incentive Plans, and any payment made with respect to any such award, are subject to the condition that we may require such award
to be returned, and any payment made with respect to such award to be repaid, if such action is required under the terms of any Company
recoupment or “clawback” (forfeiture or repayment) policy as in effect on the date the award was granted or if recoupment
is required by any law, rule, requirement or regulation.

Amendment; Termination

Our board of directors may
amend or terminate the BHM Incentive Plans at any time, provided that no amendment may adversely impair the rights of participants under
outstanding awards. Our stockholders must approve any amendment if such approval is required under applicable law or stock exchange requirements.
Our stockholders also must approve, among other things, any amendment that