(gg) “Operating Partnership” means KKR Real Estate Finance Holdings L.P., a Delaware limited partnership, and the entity that the Company conducts its business through, together with any successor entity thereto.
(hh) “OP Interest” means a limited partnership interest of the Operating Partnership, which are directly or indirectly convertible into, exchangeable for or redeemable for shares of Common Stock pursuant to the Partnership Agreement.
(ii) “Option” means an Award granted under Section 7 of the Plan.
(jj) “Option Period” has the meaning given such term in Section 7(c) of the Plan.
(kk) “Other Cash-Based Award” means an Award granted under Section 10 of the Plan that is denominated in cash.
(ll) “Other Equity-Based Award” means an Award that is not an Option, Stock Appreciation Right, Restricted Stock or Restricted Stock Unit, that is granted under Section 10 of the Plan and is payable by (i) delivery of Common Stock or other equity interests, including OP Interests, or (ii) reference to the value of Common Stock or other equity interests, including OP Interests.
(mm) “Participant” means an Eligible Person who has been selected by the Committee to participate in the Plan and to receive an Award pursuant to the Plan.
(nn) “Partnership Agreement” means the Limited Partnership Agreement of the Operating Partnership, as may be amended from time to time.
(oo) “Permitted Transferee” has the meaning given such term in Section 13(b) of the Plan.
(pp) “Person” means any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act).
(qq) “Plan” means this KKR Real Estate Finance Trust Inc. 2025 Omnibus Incentive Plan, as it may be amended from time to time.
(rr) “Qualifying Director” means a person who is, with respect to actions intended to obtain an exemption from Section 16(b) of the Exchange Act pursuant to Rule 16b-3 under the Exchange Act, a “non-employee director” within the meaning of Rule 16b-3 under the Exchange Act.
(ss) “Restricted Period” means the period of time determined by the Committee during which an Award is subject to restrictions, including vesting conditions.
(tt) “Restricted Stock” means Common Stock, subject to certain specified restrictions (which may include, without limitation, a requirement that the Participant remain continuously employed or provide continuous services for a specified period of time), granted under Section 9 of the Plan.
(uu) “Restricted Stock Unit” means an unfunded and unsecured promise to deliver shares of Common Stock, cash, other securities or other property, subject to certain restrictions (which may include, without limitation, a requirement that the Participant remain continuously employed or provide continuous services for a specified period of time), granted under Section 9 of the Plan.
(vv) “SAR Period” has the meaning given such term in Section 8(c) of the Plan.
(ww) “Securities Act” means the Securities Act of 1933, as amended, and any successor thereto. Reference in the Plan to any section of (or rule promulgated under) the Securities Act shall be deemed to include any rules, regulations or other interpretative guidance under such section or rule, and any amendments or successor provisions to such section, rules, regulations or guidance.
(xx) “Service Recipient” means, with respect to a Participant holding a given Award, the member of the Company Group by which the original recipient of such Award is, or following a Termination was most recently, principally employed or to which such original recipient provides, or following a Termination was most recently providing, services, as applicable.
(yy) “Stock Appreciation Right” or “SAR” means an Award granted under Section 8 of the Plan.
(zz) “Strike Price” has the meaning given such term in Section 8(b) of the Plan.
