Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1590

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1590
---
 one and the same instrument. The facsimile, email or other electronically delivered signatures of the parties shall be deemed to constitute original signatures, and facsimile or electronic copies hereof shall be deemed to constitute duplicate originals.

<div align='center'>[Signature Page Follows]</div>

6

<div align='center'>I-1266</div>

IN WITNESS WHEREOF, the parties have executed this Vesting Agreement as of the day and year first above written.

NEXPOINT RESIDENTIAL TRUST, INC.

By:

Name: Brian Mitts

Title: Authorized Signatory

NEXPOINT REAL ESTATE FINANCE, INC.

By:

Name: Brian Mitts

Title: Authorized Signatory

NEXPOINT DIVERSIFIED REAL ESTATE TRUST

By:

Name: Brian Mitts

Title: Authorized Signatory

VINEBROOK HOMES TRUST, INC.

By:

Name: Brian Mitts

Title: Authorized Signatory

GRANTEE

By:

Name: Matthew Goetz

<div align='center'>[Signature Page of Vesting Agreement]

I-1267</div>

Exhibit 10.1

<div align='center'>NEXPOINT DIVERSIFIED REAL ESTATE TRUST

CLAWBACK POLICY</div>

NexPoint Diversified Real Estate Trust (the “”) will recover reasonably promptly the amount of erroneously awarded incentive-based compensation in the event that the Company is required to prepare an accounting restatement due to the material noncompliance of the Company with any financial reporting requirement under the securities laws, including any required accounting restatement to correct an error in previously issued financial statements that is material to the previously issued financial statements, or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period (an “”).

This policy applies to all incentive-based compensation received by a person:

| (1) | after beginning service as an executive officer; |

| (2) | who served as an executive officer at any time during the performance period for that incentive-based compensation; |

| (3) | while the Company has a class of securities listed on a national securities exchange or a national securities association; and |

| (4) | during the three completed fiscal years immediately preceding the date that the Company is required to prepare an accounting restatement; provided that this policy also applies to any transition period that results from a change in the Company’s fiscal year within or immediately following