Company: BHM
Filing Date: 2025-03-28
Form Type: POS AM
Source: 0001104659-25-029225
Chunk: 214

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-28
Form: POS AM
Chunk 214
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 through the latest date preceding the change in control (but not later than the end of the applicable
performance period).

The administrator may also
provide that any awards (or any portion thereof) that become vested in connection with the change in control as set forth above may be
cancelled, in the sole discretion of the administrator, in exchange for a payment, in cash or shares of our common stock or other securities
or consideration received by stockholders in the change in control transaction, in an amount substantially equal to (i) the price
per share of common stock received by stockholders (in the case of vested shares of common stock), (ii) the amount by which the price
per share of our common stock received by stockholders exceeds the option price or Initial Value (in the case of Options and SARs), and
(iii) if applicable, the 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.

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;                                  |

<div align='center'>110</div>

| · | 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