TCI amends advisory agreement with Pillar, consolidating fees into single NAV fee plus reimbursements

TRANSCONTINENTAL REALTY INVESTORS INC

Amended agreement effective Jan 1, 2024 consolidates prior fees into a single "Net Asset Value Fee" plus specified allocated reimbursements.
Gross Asset Fee set at 0.75% per annum (0.0625% monthly) on average Gross Asset Value; Net Income Fee of 7.5% per annum of Adjusted Net Income.
All duties and responsibilities of Pillar and the Company remain unchanged from the original April 30, 2011 advisory agreement.
Agreement continues until next Annual Meeting; renewable annually subject to approval by a majority of independent directors.

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