Company: CLPR
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001437749-25-013840
Chunk: 79

Company: Clipper Realty Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 79
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1.2.38“Share Equivalents” means the measuring unit for purposes of the Plan to determine the number of Shares that may be subject to awards hereunder, subject to Section 1.6.

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

1.2.40“Shares” means shares of Common Stock.

1.2.41“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.

<div align='center'>A-5</div>

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

1.2.43“Ten Percent Stockholder” means a person owning stock possessing more than 10% of the total combined voting power of all classes of stock of Clipper Realty and of any Subsidiary or parent corporation of Clipper Realty.

1.2.44“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;

(e) correct any defect, supply any omission and reconcile any inconsistency in the Plan;

(f) amend the Plan to reflect changes in applicable law;

(g) grant, or recommend to the Board for approval to grant, Awards and determine who will receive Awards, when such Awards will be granted and the terms of such Awards, including setting forth provisions with regard to the effect of a termination of Employment on such Awards and conditioning the vesting of, or the lapsing of any applicable vesting restrictions or other vesting conditions on, Awards upon the attainment of Performance Goals and/or upon continued service;

(h) amend any outstanding Award Agreement in any