Company: RWT-PA
Filing Date: 2025-03-03
Form Type: S-3ASR
Source: 0001104659-25-019828
Chunk: 96

Company: REDWOOD TRUST INC
Filing Date: 2025-03-03
Form: S-3ASR
Chunk 96
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 it, to the maximum extent permitted by Maryland law, to indemnify and to pay or reimburse reasonable expenses
in advance of final disposition of a proceeding to (a) any present or former director or officer or (b) any individual who, while a director
or officer of the registrant and at the request of the registrant, serves or has served as a director, officer, partner, or trustee of
another corporation, real estate investment trust, partnership, joint venture, trust, employee benefit plan, or any other enterprise
from and against any claim or liability to which such person may become subject or which such person may incur by reason of his or her
service in any such capacity. The bylaws of the registrant establish certain procedures for indemnification and advance of expenses pursuant
to applicable law and the registrant’s charter. The charter and bylaws also permit the registrant to indemnify and advance expenses
to any person who served a predecessor of the registrant in any of the capacities described above and to any employee or agent of the
registrant or a predecessor of the registrant.

The MGCL requires a corporation
(unless its charter provides otherwise, which the registrant’s charter does not) to indemnify a director or officer who has been
successful, on the merits or otherwise, in the defense of any proceeding to which he or she is made, or threatened to be made, a party
by reason of his or her service in that capacity. The MGCL permits a corporation to indemnify its 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 (a) the act or omission of the director or officer was material to the matter giving rise to the proceeding and
(i) was committed in bad faith or (ii) was the result of active and deliberate dishonesty, (b) the director or officer actually
received an improper personal benefit in money, property, or services or (c) in the case of any criminal proceeding, the director or
officer had reasonable cause to believe that the act or omission was unlawful. However, under the MGCL, a Maryland corporation may not
indemnify for an adverse judgment in a suit by or in the right of the corporation or for a judgment of liability on the basis