Company: NXDT
Filing Date: 2025-06-12
Form Type: S-4
Source: 0001437749-25-020201
Chunk: 30

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-06-12
Form: S-4
Chunk 30
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ify 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 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, New NXDT may not indemnify a director or officer in a suit by New NXDT or in New NXDT’s right in which the director or officer was adjudged liable to New NXDT 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 New NXDT or in New NXDT’s right, or for a judgment of liability on the basis that personal benefit was improperly received, is limited to expenses.

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In addition, the MGCL permits New NXDT to advance reasonable expenses to a director or officer upon receipt of:

| • | 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 by us; and |

| • | a written undertaking by or on behalf of the director or officer to repay the amount paid or reimbursed by New NXDT if it is ultimately determined that the director or officer did not meet the standard of conduct. |

The New NXDT Charter provides that New NXDT will have the power, and the New NXDT Bylaws obligate New NXDT, 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 or reimburse reasonable expenses in advance of final disposition of a proceeding to: