IOR amends advisory agreement; consolidates fees into NAV fee and reimbursements

INCOME OPPORTUNITY REALTY INVESTORS INC /TX/

Effective Jan 1, 2024, IOR and Pillar signed amended advisory agreement simplifying fee structure.
Prior separate fees replaced by a single Gross Asset Fee of 0.75% per annum of average Gross Asset Value.
Additional Net Income Fee of 7.5% per annum of Adjusted Net Income, paid quarterly after Form 10-Q/K filings.
No changes to duties or responsibilities of Pillar or IOR; agreement effective through next annual meeting and renewable.
Pillar continues as external advisor since 2011.

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