Company: CLPR
Filing Date: 2025-12-04
Form Type: S-8
Source: 0001437749-25-036920
Chunk: 3

Company: Clipper Realty Inc.
Filing Date: 2025-12-04
Form: S-8
Chunk 3
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 director or officer is fairly and reasonably entitled to indemnification, even though the director or officer did not meet the prescribed standard of conduct; however, indemnification for an adverse judgment in a suit by or on behalf of the corporation, or for a judgment of liability on the basis that personal benefit was improperly received, is limited to expenses.

In addition, the Maryland General Corporation Law permits a Maryland corporation to advance reasonable expenses to a director or officer upon the corporation’s 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 the corporation; and |

| ● | a written undertaking by the director or officer or on his or her behalf to repay the amount paid or reimbursed by the corporation if it is ultimately determined that he or she did not meet the standard of conduct necessary for indemnification by the corporation. |

To the maximum extent permitted by Maryland law in effect from time to time, the Registrant’s charter authorizes the Registrant to indemnify any individual who serves or has served, and the Registrant’s bylaws obligate the Registrant to indemnify any individual who is made or threatened to be made a party to or witness in a proceeding by reason of his or her service:

| ● | as a present or former director or officer; or |

| ● | while a director or officer and at the Registrant’s request, as a director, officer, partner, manager, member or trustee of another corporation, real estate investment trust, partnership, joint venture, trust, limited liability company, employee benefit plan or other enterprise, |

from and against any claim or liability to which he or she may become subject or that he or she may incur by reason of his or her service in any of these capacities. The Registrant’s charter authorizes the Registrant, and the Registrant’s bylaws require the Registrant, without requiring a preliminary determination of such individual’s ultimate entitlement to indemnification, to pay or reimburse any such individual’s reasonable expenses in advance of final disposition of a proceeding. The Registrant’s charter and bylaws also permit the Registrant to indemnify and advance expenses to any individual who served a predecessor of the Registrant in any of the capacities described above and any employee or agent of the Registrant or a predecessor of the Registrant.

Indemnification Agreements; Directors and Officers Liability Insurance

The Registrant has entered into indemnification agreements with each of its directors and executive officers that provide