Company: SQFTP
Filing Date: 2025-12-15
Form Type: S-11
Source: 0001493152-25-027787
Chunk: 66

Company: Presidio Property Trust, Inc.
Filing Date: 2025-12-15
Form: S-11
Chunk 66
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 or officer who has been successful, on the merits or otherwise, in the defense of any proceeding to which he or she is made a party by reason of his or her service in that capacity. The MGCL permits us to indemnify our present and former directors and officers, among others, against judgments, penalties, fines, settlements and reasonable expenses actually incurred by them in connection with any proceeding to which they may be made or threatened to be made a party by reason of their service in those or certain other capacities unless it is established that:

| ● | the                                                                                                                                 
 act or omission of the director or officer was material to the matter giving rise to the proceeding and (a) was committed in bad    
 faith or (b) was the result of active and deliberate dishonesty;                                                                    |
| ● | the                                                                                                                                 
 director or officer actually received an improper personal benefit in money, property or services; or                               |
| ● | in                                                                                                                                  
 the case of any criminal proceeding, the director or officer had reasonable cause to believe that the act or omission was unlawful. |

Under the MGCL, we may not indemnify a director or officer in a suit by us or in our right in which the director or officer was adjudged liable to us or in a suit in which the director or officer was adjudged liable on the basis that personal benefit was improperly received. A court may order indemnification if it determines that the director or officer is fairly and reasonably entitled to indemnification, even though the director or officer did not meet the prescribed standard of conduct or was adjudged liable on the basis that personal benefit was improperly received. However, indemnification for an adverse judgment in a suit by us or in our right, or for a judgment of liability on the basis that personal benefit was improperly received, is limited to expenses.

| 42 |

In addition, the MGCL permits us to advance reasonable expenses to a director or officer upon our receipt of (a) a written affirmation by the director or officer of his or her good faith belief that he or she has met the standard of conduct necessary for indemnification and (b) a written undertaking by him or her or on his or her behalf to repay the amount paid or reimbursed if it is ultimately determined that the standard of conduct was not met.

Our charter authorizes us to obligate ourselves, and our bylaws obligate us, to the maximum extent permitted by Maryland law in effect from time to time, to indemnify and, without requiring a preliminary determination of the ultimate entitlement to indemnification, pay