FREIT amends management agreement; M&A termination fee raised to 2.5x from 1.25x

FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.

Board approved Second Amendment to Management Agreement with Hekemian & Co. on March 9, 2023.
M&A termination fee increased from 1.25x to 2.5x the standard termination fee.
Standard termination fee amount was not disclosed in the filing.
Original Management Agreement dated November 1, 2001 remains otherwise unchanged.

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