Company: CLPR
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001437749-25-013840
Chunk: 108

Company: Clipper Realty Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 108
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“Non-Qualifying Transaction” has the meaning provided in the definition of Change in Control.

1.2.22“Operating Partnership” has the meaning set forth in Section2.7.1.

1.2.23 “Other Stock-Based or Cash-Based Awards” has the meaning set forth in Section 2.8.

1.2.24“Plan” has the meaning set forth in Section 1.1.

1.2.25“Plan Action” has the meaning set forth in Section 3.3.1.

1.2.26“Section 409A” means Section 409A of the Code, including any amendments or successor provisions to that section, and any regulations and other administrative guidance thereunder, in each case as they may be from time to time amended or interpreted through further administrative guidance.

1.2.27“Securities Act” means the Securities Act of 1933, as amended from time to time, or any successor thereto, and the applicable rules and regulations thereunder.

1.2.28“Share Limit” has the meaning set forth in Section 1.6.1.

1.2.29“Shares” means shares of Common Stock.

1.2.30“Subsidiary” means any corporation, partnership, limited liability company or other legal entity in which Clipper Realty, directly or indirectly, owns stock or other equity interests possessing 25% or more of the total combined voting power of all classes of the then-outstanding stock or other equity interests.

1.2.31“Surviving Entity” has the meaning provided in the definition of Change in Control.

1.2.32“Treasury Regulations” means the regulations promulgated under the Code by the United States Treasury Department, as amended.

1.3Administration

1.3.1 The Compensation Committee of the Board (as constituted from time to time, and including any successor committee, the “Committee”) will administer the Plan. In particular, the Committee will have the authority in its sole discretion to:

(a) exercise all of the powers granted to it under the Plan;

(b) construe, interpret and implement the Plan and all Award Agreements;

(c) prescribe, amend and rescind rules and regulations relating to the Plan, including rules governing the Committee’s own operations;

(d) make all determinations necessary or advisable in administering the Plan;

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(e) correct any defect, supply any omission and reconcile any inconsistency