Company: SQFTP
Filing Date: 2025-04-07
Form Type: PRE 14A
Source: 0001641172-25-003040
Chunk: 43

Company: Presidio Property Trust, Inc.
Filing Date: 2025-04-07
Form: PRE 14A
Chunk 43
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 and ending 12 months following such date, or earlier upon certain circumstances, healthcare benefits for himself and eligible dependents, (e) to the extent previously unpaid or provided, any vested benefits and other amounts or benefits required to be paid or provided under any plan or policy of the Company (excluding equity incentive plans) and (f) on the termination date 100% of outstanding unvested stock options, restricted stock and other equity awards granted to Mr. Katz under any of the Company’s equity incentive plans (other than performance-based vesting awards) shall become immediately vested and exercisable in full.

Employment Agreement with Ed Bentzen

On
February 6, 2024, the Company entered into an employment agreement (the “Bentzen Employment Agreement”) with its Chief Financial
Officer, Ed Bentzen. The Employment Agreement has a term of three years and shall be automatically renewed for additional one-year terms
unless either party provides three months’ written notice. Mr. Bentzen will receive an annual base salary of $230,000 which shall
be reviewed annually by the Board or Compensation Committee thereof and he will be entitled to receive, in addition to his base salary,
an annual bonus at a target of up to 100% of his base salary.

If
Mr. Bentzen’s employment is terminated for cause, as defined in the Bentzen Employment Agreement, or by Mr. Bentzen without good
reason, as defined in the Bentzen Employment Agreement, the Company shall have no obligations other than to pay him the earned and unpaid
base salary and accrued but unpaid time off through the date of termination (the “Bentzen Accrued Obligations”) in cash on
the date of termination and provide any vested benefits required to be paid or provided or which Mr. Bentzen is eligible to receive under
any plan, program, policy or practice or contract or agreement of the Company.

If
Mr. Bentzen’s employment is terminated due to death or disability, as defined in the Bentzen Employment Agreement, he, or his estate
or beneficiaries in the event of his death, will be entitled to receive the Bentzen Accrued Obligations, reimbursement for expenses incurred
prior to the date of termination and the provision of any vested benefits required to be paid or provided or which Mr. Bentzen is eligible
to receive under any plan, program, policy or practice or contract or agreement of the Company.

If
Mr. Bentzen terminates his employment for good reason, he will be entitled