Document:

Exhibit 10.7

 

INDEMNIFICATION AGREEMENT

 

THIS INDEMNIFICATION AGREEMENT (“Agreement”)
is made and entered into as of the _____ day of _________, 20__, by and between Postal Realty Trust, Inc., a Maryland corporation
(the “Company”), and ________________________ (“Indemnitee”).

 

WHEREAS, at the request of the Company,
Indemnitee currently serves as [a director] [and] [an officer] of the Company and may, therefore, be subjected to claims,
suits or proceedings arising as a result of such service;

 

WHEREAS, as an inducement to Indemnitee
to serve or continue to serve in such capacity, the Company has agreed to indemnify Indemnitee and to advance expenses and costs
incurred by Indemnitee in connection with any such claims, suits or proceedings, to the maximum extent permitted by law; and

 

WHEREAS, the parties by this Agreement desire
to set forth their agreement regarding indemnification and advance of expenses;

 

NOW, THEREFORE, in consideration of the
premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:

 

Section 1.          Definitions.
For purposes of this Agreement:

 

(a)          “Change
in Control” means a change in control of the Company occurring after the Effective Date of a nature that would be required
to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response to any similar item on any similar
schedule or form) promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), whether
or not the Company is then subject to such reporting requirement; provided, however, that, without limitation, such a Change in
Control shall be deemed to have occurred if, after the Effective Date (i) any “person” (as such term is used in Sections
13(d) and 14(d) of the Exchange Act) is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange
Act), directly or indirectly, of securities of the Company representing 35% or more of the combined voting power of all of the
Company’s then-outstanding securities entitled to vote generally in the election of directors without the prior approval
of at least two-thirds of the members of the Board of Directors in office immediately prior to such person’s attaining such
percentage interest; (ii) the Company is a party to a merger, consolidation, sale of assets, plan of liquidation or other reorganization
not approved by at least two-thirds of the members of the Board of Directors then in office, as a consequence of which members
of the Board of Directors in office immediately prior to such transaction or event constitute less than a majority of the Board
of Directors thereafter; or (iii) at any time, a majority of the members of the Board of Directors are not individuals (A) who
were directors as of the Effective Date or (B) whose election by the Board of Directors or nomination for election by the Company’s
stockholders was approved by the affirmative vote of at least two-thirds of the directors then in office who were directors as
of the Effective Date or whose election or nomination for election was previously so approved.

 

     

     

    

 

(b)          “Corporate
Status” means the status of a person as a present or former director, officer, employee or agent of the Company or as a director,
trustee, officer, partner, manager, managing member, fiduciary, employee or agent of any other foreign or domestic corporation,
real estate investment trust, partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise
that such person is or was serving in such capacity at the request of the Company. As a clarification and without limiting the
circumstances in which Indemnitee may be serving at the request of the Company, service by Indemnitee shall be deemed to be at
the request of the Company: (i) if Indemnitee serves or served as a director, trustee, officer, partner, manager, managing member,
fiduciary, employee or agent of any corporation, partnership, limited liability company, joint venture, trust or other enterprise
(1) of which a majority of the voting power or equity interest is or was owned directly or indirectly by the Company or (2) the
management of which is controlled directly or indirectly by the Company and (ii) if, as a result of Indemnitee’s service
to the Company or any of its affiliated entities, Indemnitee is subject to duties to, or required to perform services for, an employee
benefit plan or its participants or beneficiaries, including as a deemed fiduciary thereof.

 

(c)          “Disinterested
Director” means a director of the Company who is not and was not a party to the Proceeding in respect of which
indemnification and/or advance of Expenses is sought by Indemnitee and has no financial state in the outcome of the
Proceeding or determination referred to in Section 10 hereof.

 

(d)          “Effective
Date” means the date set forth in the first paragraph of this Agreement.

 

(e)          “Expenses”
means any and all reasonable and out-of-pocket attorneys’ fees and costs, retainers, court costs, arbitration and
mediation costs, transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding
costs, telephone charges, postage, delivery service fees, federal, state, local or foreign taxes imposed on Indemnitee as a
result of the actual or deemed receipt of any payments under this Agreement, ERISA excise taxes and penalties and any other
disbursements or expenses incurred in connection with prosecuting, defending, preparing to prosecute or defend,
investigating, being or preparing to be a witness in or otherwise participating in a Proceeding. Expenses shall also include
Expenses incurred in connection with any appeal resulting from any Proceeding, including, without limitation, the premium
for, security for and other costs relating to any cost bond, supersedeas bond or other appeal bond or its equivalent and any
expenses incurred establishing a right of indemnification.

 

(f)          “Independent
Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither
is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee (or any major shareholder
thereof) or any affiliate of either such party in any matter material to either such party (other than with respect to matters
concerning Indemnitee under this Agreement or of other indemnitees under similar indemnification agreements),
or (ii) any other party to or participant or witness in the Proceeding giving rise to a claim for indemnification
or advance of Expenses hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not
include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of
interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this
Agreement. The Company agrees to pay fees and expenses of Independent Counsel.

 

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(g)          “Proceeding”
means any threatened, pending or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry,
administrative hearing, claim, demand or discovery request or any other actual, threatened or completed proceeding, whether brought
by or in the right of the Company or otherwise and whether of a civil (including intentional or unintentional tort claims), criminal,
administrative or investigative (formal or informal) nature, including any appeal therefrom, except one pending or completed on
or before the Effective Date, unless otherwise specifically agreed in writing by the Company and Indemnitee. If Indemnitee reasonably
believes that a given situation may lead to or culminate in the institution of a Proceeding, such situation shall also be considered
a Proceeding.

 

Section 2.          Services
by Indemnitee. Indemnitee serves or will serve in the capacity or capacities set forth in the first WHEREAS clause above. However,
this Agreement shall not impose any independent obligation on Indemnitee or the Company to continue Indemnitee’s service
to the Company. This Agreement shall not be deemed an employment contract between the Company (or any other entity) and Indemnitee.

 

Section 3.          General.
The Company shall indemnify, and advance Expenses to, Indemnitee (a) as provided in this Agreement and (b) otherwise
to the maximum extent permitted by Maryland law in effect on the Effective Date and as amended from time to time; provided, however,
that no change in Maryland law shall have the effect of reducing the benefits available to Indemnitee hereunder based on Maryland
law as in effect on the Effective Date. The rights of Indemnitee provided in this Section 3 shall include, without limitation,
the rights set forth in the other sections of this Agreement, including any additional indemnification permitted by the Maryland
General Corporation Law (the “MGCL”), including, without limitation, Section 2-418 of the MGCL.

 

Section 4.          Standard
for Indemnification. If, by reason of Indemnitee’s Corporate Status, Indemnitee is, or is threatened to be, made a party
to any Proceeding, the Company shall indemnify Indemnitee against all judgments, penalties, fines and amounts paid in settlement
and all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with any such Proceeding
unless it is established that (a) the act or omission of Indemnitee 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) Indemnitee actually
received an improper personal benefit in money, property or services or (c) in the case of any criminal Proceeding, Indemnitee
had reasonable cause to believe that Indemnitee’s conduct was unlawful.

 

Section 5.          Certain
Limits on Indemnification. Notwithstanding any other provision of this Agreement (other than Section 6), Indemnitee shall not
be entitled to:

 

(a)          indemnification
hereunder if the Proceeding was one by or in the right of the Company and Indemnitee is adjudged, in a final adjudication of the
Proceeding not subject to further appeal, to be liable to the Company;

 

(b)          indemnification
hereunder if Indemnitee is adjudged, in a final adjudication of the Proceeding not subject to further appeal, to be liable on the
basis that personal benefit in money, property or services was improperly received in any Proceeding charging improper personal
benefit to Indemnitee, whether or not involving action in Indemnitee’s Corporate Status; or

 

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(c)          indemnification
or advance of Expenses hereunder if the Proceeding was brought by Indemnitee, unless: (i) the Proceeding was brought to enforce
indemnification under this Agreement, and then only to the extent in accordance with and as authorized by Section 12 of this Agreement,
or (ii) the Company’s charter or Bylaws, a resolution of the stockholders entitled to vote generally in the election
of directors or of the Board of Directors or an agreement approved by the Board of Directors to which the Company is a party expressly
provide otherwise.

 

Section 6.          Court-Ordered
Indemnification. Notwithstanding any other provision of this Agreement, a court of appropriate jurisdiction, upon application
of Indemnitee and such notice as the court shall require, may order indemnification of Indemnitee by the Company in the following
circumstances:

 

(a)          if
such court determines that Indemnitee is entitled to reimbursement under Section 2-418(d)(1) of the MGCL, the court shall order
indemnification, in which case Indemnitee shall be entitled to recover the Expenses of securing such reimbursement; or

 

(b)          if
such court determines that Indemnitee is fairly and reasonably entitled to indemnification in view of all the relevant circumstances,
whether or not Indemnitee (i) has met the standards of conduct set forth in Section 2-418(b) of the MGCL or (ii) has
been adjudged liable for receipt of an improper personal benefit under Section 2-418(c) of the MGCL, the court may order such indemnification
as the court shall deem proper without regard to any limitation on such court-ordered indemnification contemplated by Section 2-418(d)(2)(ii)
of the MGCL.

 

Section 7.          Indemnification
for Expenses of an Indemnitee Who is Wholly or Partially Successful. Notwithstanding any other provision of this Agreement,
and without limiting any such provision, to the extent that Indemnitee was or is, by reason of Indemnitee’s Corporate Status,
made a party to (or otherwise becomes a participant in) any Proceeding and is successful, on the merits or otherwise, in the defense
of such Proceeding, the Company shall indemnify Indemnitee for all Expenses actually and reasonably incurred by Indemnitee or on
Indemnitee’s behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful,
on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall
indemnify Indemnitee under this Section 7 for all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s
behalf in connection with each such claim, issue or matter, allocated on a reasonable and proportionate basis. For purposes of
this Section 7 and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or
without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

 

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Section 8.          Advance
of Expenses for Indemnitee. If, by reason of Indemnitee’s Corporate Status, Indemnitee is, or is threatened to be, made
a party to any Proceeding, the Company shall, without requiring a preliminary determination of Indemnitee’s ultimate entitlement
to indemnification hereunder, advance all Expenses incurred by or on behalf of Indemnitee in connection with such Proceeding. The
Company shall make such advance of incurred Expenses within ten days after the receipt by the Company of a statement or statements
requesting such advance from time to time, whether prior to or after final disposition of such Proceeding, which advance may be
in the form of, in the reasonable discretion of Indemnitee (but without duplication), (a) payment of such Expenses directly to
third parties on behalf of Indemnitee, (b) advance of funds to Indemnitee in an amount sufficient to pay such Expenses or (c) reimbursement
to Indemnitee for Indemnitee’s payment of such Expenses. Such statement or statements shall reasonably evidence the Expenses
incurred by Indemnitee and shall include or be preceded or accompanied by a written affirmation by Indemnitee and a written undertaking
by or on behalf of Indemnitee, in substantially the form attached hereto as Exhibit A or in such form as may be required
under applicable law as in effect at the time of the execution thereof. To the extent that Expenses advanced to Indemnitee do not
relate to a specific claim, issue or matter in the Proceeding, such Expenses shall be allocated on a reasonable and proportionate
basis. The undertaking required by this Section 8 shall be an unlimited general obligation by or on behalf of Indemnitee and shall
be accepted without reference to Indemnitee’s financial ability to repay such advanced Expenses and without any requirement
to post security therefor.

 

Section 9.          Indemnification
and Advance of Expenses as a Witness or Other Participant. Notwithstanding any other provision of this Agreement, to the extent
that Indemnitee is or may be, by reason of Indemnitee’s Corporate Status, made a witness or otherwise asked to participate
in any Proceeding, whether instituted by the Company or any other person, and to which Indemnitee is not a party, Indemnitee shall
be advanced and indemnified against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf
in connection therewith within ten days after the receipt by the Company of a statement or statements requesting any such advance
or indemnification from time to time, whether prior to or after final disposition of such Proceeding. Such statement or statements
shall reasonably evidence the Expenses incurred by Indemnitee. In connection with any such advance of Expenses, the Company may
require Indemnitee to provide an undertaking and affirmation substantially in the form attached hereto as Exhibit A or in
such form as may be required under applicable law as in effect at the time of execution thereof.

 

Section 10.         Procedure
for Determination of Entitlement to Indemnification.

 

(a)          To
obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith
such documentation and information as is reasonably available to Indemnitee and is reasonably necessary or appropriate to determine
whether and to what extent Indemnitee is entitled to indemnification. Indemnitee may submit one or more such requests from time
to time and at such time(s) as Indemnitee deems appropriate in Indemnitee’s sole discretion. The officer of the Company receiving
any such request from Indemnitee shall, promptly upon receipt of such a request for indemnification, advise the Board of Directors
in writing that Indemnitee has requested indemnification.

 

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(b)          Upon
written request by Indemnitee for indemnification pursuant to Section 10(a) above, a determination, if required by applicable law,
with respect to Indemnitee’s entitlement thereto shall promptly be made in the specific case: (i) if a Change in Control
has occurred, by Independent Counsel, in a written opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee,
which Independent Counsel shall be selected by Indemnitee and approved by the Board of Directors in accordance with Section 2-418(e)(2)(ii)
of the MGCL, which approval shall not be unreasonably withheld; or (ii) if a Change in Control has not occurred, (A) by a
majority vote of the Disinterested Directors or by the majority vote of a group of Disinterested Directors designated by the Disinterested
Directors to make the determination, (B) if Independent Counsel has been selected by the Board of Directors in accordance with
Section 2-418(e)(2)(ii) of the MGCL and approved by Indemnitee, which approval shall not be unreasonably withheld or delayed, by
Independent Counsel, in a written opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee or (C) if
so directed by the Board of Directors, by the stockholders of the Company, other than directors or officers who are parties to
the Proceeding. If it is so determined that Indemnitee is entitled to indemnification, the Company shall make payment to Indemnitee
within ten days after such determination. Indemnitee shall cooperate with the person, persons or entity making such determination
with respect to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable
advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably
available to Indemnitee and reasonably necessary or appropriate to such determination in the discretion of the Board of Directors
or Independent Counsel if retained pursuant to clause (ii)(B) of this Section 10(b). Any Expenses incurred by Indemnitee in so
cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination
as to Indemnitee’s entitlement to indemnification) and the Company shall indemnify and hold Indemnitee harmless therefrom.

 

(c)          The
Company shall pay the reasonable fees and expenses of Independent Counsel, if one is appointed.

 

Section 11.         Presumptions
and Effect of Certain Proceedings.

 

(a)          In
making any determination with respect to entitlement to indemnification hereunder, the person or persons (including any court having
jurisdiction over the matter) making such determination shall presume that Indemnitee is entitled to indemnification under this
Agreement if Indemnitee has submitted a request for indemnification in accordance with Section 10(a) of this Agreement, and
the Company shall have the burden of overcoming that presumption in connection with the making of any determination contrary to
that presumption.

 

(b)          The
termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, upon a plea
of nolo contendere or its equivalent, or entry of an order of probation prior to judgment, does not create a presumption
that Indemnitee did not meet the requisite standard of conduct described herein for indemnification.

 

(c)          The
knowledge and/or actions, or failure to act, of any other director, officer, employee or agent of the Company or any other director,
trustee, officer, partner, manager, managing member, fiduciary, employee or agent of any other foreign or domestic corporation,
real estate investment trust, partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise
shall not be imputed to Indemnitee for purposes of determining any other right to indemnification under this Agreement.

 

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Section 12.         Remedies
of Indemnitee.

 

(a)          If
(i) a determination is made pursuant to Section 10(b) of this Agreement that Indemnitee is not entitled
to indemnification under this Agreement, (ii) advance of Expenses is not timely made pursuant to Sections 8 or 9 of
this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 10(b)
of this Agreement within 60 days after receipt by the Company of the request for indemnification, (iv) payment
of indemnification is not made pursuant to Sections 7 or 9 of this Agreement within ten days after receipt by the Company of
a written request therefor, or (v) payment of indemnification pursuant to any other section of this Agreement or
the charter or Bylaws of the Company is not made within ten days after a determination has been made that Indemnitee is
entitled to indemnification, Indemnitee shall be entitled to an adjudication in an appropriate court located in the State of
Maryland, or in any other court of competent jurisdiction, or, at Indemnitee’s option, in an arbitration conducted by a
single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association (provided, however,
that the Company and the Indemnitee agree to use reasonable efforts to ensure that the arbitrator makes a ruling in any such
arbitration under this Section 12(a) within 60 days of the commencement of such arbitration), of Indemnitee’s entitlement to
indemnification or advance of Expenses. Indemnitee shall commence a proceeding seeking an adjudication or an award in
arbitration within 180 days following the date on which Indemnitee first has the right to commence such proceeding pursuant
to this Section 12(a); provided, however, that the foregoing clause shall not apply to a proceeding brought by
Indemnitee to enforce Indemnitee’s rights under Section 7 of this Agreement.  Except as set forth herein, the provisions of Maryland law
(without regard to its conflicts of laws rules) shall apply to any such arbitration. The Company shall not oppose
Indemnitee’s right to seek any such adjudication or award in arbitration.

 

(b)          In
any judicial proceeding or arbitration commenced pursuant to this Section 12, Indemnitee shall be presumed to be entitled
to indemnification or advance of Expenses, as the case may be, under this Agreement and the Company shall have the burden of proving
that Indemnitee is not entitled to indemnification or advance of Expenses, as the case may be. If Indemnitee commences a judicial
proceeding or arbitration pursuant to this Section 12, Indemnitee shall not be required to reimburse the Company for any advances
pursuant to Section 8 of this Agreement until a final determination is made with respect to Indemnitee’s entitlement to indemnification
(as to which all rights of appeal have been exhausted or lapsed). The Company shall, to the fullest extent not prohibited by law,
be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 12 that the procedures
and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such
arbitrator that the Company is bound by all of the provisions of this Agreement.

 

(c)          If
a determination shall have been made pursuant to Section 10(b) of this Agreement that Indemnitee is entitled to indemnification,
the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 12,
absent a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s
statement not materially misleading, in connection with the request for indemnification that was not disclosed in connection with
the determination.

 

(d)          In
the event that Indemnitee is successful in seeking, pursuant to this Section 12, a judicial adjudication of or an award in arbitration
to enforce Indemnitee’s rights under, or to recover damages for breach of, this Agreement, Indemnitee shall be entitled to
recover from the Company, and shall be indemnified by the Company for, any and all Expenses actually and reasonably incurred by
Indemnitee in such judicial adjudication or arbitration. If it shall be determined in such judicial adjudication or arbitration
that Indemnitee is entitled to receive part but not all of the indemnification or advance of Expenses sought, the Expenses incurred
by Indemnitee in connection with such judicial adjudication or arbitration shall be appropriately prorated.

 

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(e)          Interest
shall be paid by the Company to Indemnitee at the maximum rate allowed to be charged for judgments under the Courts and Judicial
Proceedings Article of the Annotated Code of Maryland for amounts which the Company pays or is obligated to pay for the period
(i) commencing with either the tenth day after the date on which the Company was requested to advance Expenses in accordance with
Sections 8 or 9 of this Agreement or the 60th day after the date on which the Company was requested to make the determination
of entitlement to indemnification under Section 10(b) of this Agreement, as applicable, and (ii) ending on the date such payment
is made to Indemnitee by the Company.

 

Section 13.         Defense
of the Underlying Proceeding.

 

(a)          Indemnitee
shall notify the Company promptly in writing upon being served with any summons, citation, subpoena, complaint, indictment, request
or other document relating to any Proceeding which may result in the right to indemnification or the advance of Expenses hereunder
and shall include with such notice a description of the nature of the Proceeding and a summary of the facts underlying the Proceeding.
The failure to give any such notice shall not disqualify Indemnitee from the right, or otherwise affect in any manner any right
of Indemnitee, to indemnification or the advance of Expenses under this Agreement unless the Company’s ability to defend
in such Proceeding or to obtain proceeds under any insurance policy is materially and adversely prejudiced thereby, and then only
to the extent the Company is thereby actually so prejudiced.

 

(b)          Subject
to the provisions of the last sentence of this Section 13(b) and of Section 13(c) below, the Company shall have the right
to defend Indemnitee in any Proceeding which may give rise to indemnification hereunder; provided, however, that the Company shall
notify Indemnitee of any such decision to defend within 15 days following receipt of notice of any such Proceeding under Section 13(a)
above. The Company shall not, without the prior written consent of Indemnitee, which shall not be unreasonably withheld or delayed,
consent to the entry of any judgment against Indemnitee or enter into any settlement or compromise with respect to Indemnitee which
(i) includes an admission of fault of Indemnitee, (ii) does not include, as an unconditional term thereof, the full release
of Indemnitee from all liability in respect of such Proceeding, which release shall be in form and substance reasonably satisfactory
to Indemnitee, or (iii) would impose any Expense, judgment, fine, penalty or limitation on Indemnitee. This Section 13(b)
shall not apply to a Proceeding brought by Indemnitee under Section 12 of this Agreement.

 

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(c)          Notwithstanding
the provisions of Section 13(b) above, if in a Proceeding to which Indemnitee is a party by reason of Indemnitee’s Corporate
Status, (i) Indemnitee reasonably concludes, based upon an opinion of counsel approved by the Company, which approval shall
not be unreasonably withheld or delayed, that Indemnitee may have separate defenses or counterclaims to assert with respect to
any issue which may not be consistent with other defendants in such Proceeding, (ii) Indemnitee reasonably concludes, based
upon an opinion of counsel approved by the Company, which approval shall not be unreasonably withheld or delayed, that an actual
or apparent conflict of interest or potential conflict of interest exists between Indemnitee and the Company, or (iii) if
the Company fails to assume the defense of such Proceeding in a timely manner, Indemnitee shall be entitled to be represented by
separate legal counsel of Indemnitee’s choice, subject to the prior approval of the Company, which approval shall not be
unreasonably withheld or delayed, at the expense of the Company. In addition, if the Company fails to comply with any of its obligations
under this Agreement or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable,
or institutes any Proceeding to deny or to recover from Indemnitee the benefits intended to be provided to Indemnitee hereunder,
Indemnitee shall have the right to retain counsel of Indemnitee’s choice, subject to the prior approval of the Company, which
approval shall not be unreasonably withheld or delayed, at the expense of the Company (subject to Section 12(d) of this Agreement),
to represent Indemnitee in connection with any such matter.

 

Section 14.         Non-Exclusivity;
Survival of Rights; Subrogation.

 

(a)          The
rights of indemnification and advance of Expenses as provided by this Agreement shall not be deemed exclusive of any other rights
to which Indemnitee may at any time be entitled under applicable law, the charter or Bylaws of the Company, any agreement or a
resolution of the stockholders entitled to vote generally in the election of directors or of the Board of Directors, or otherwise.
Unless consented to in writing by Indemnitee, no amendment, alteration or repeal of the charter or Bylaws of the Company, this
Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action
taken or omitted by such Indemnitee in Indemnitee’s Corporate Status prior to such amendment, alteration or repeal, regardless
of whether a claim with respect to such action or inaction is raised prior or subsequent to such amendment, alteration or repeal.
No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right or remedy shall
be cumulative and in addition to every other right or remedy given hereunder or now or hereafter existing at law or in equity or
otherwise. The assertion of any right or remedy hereunder, or otherwise, shall not prohibit the concurrent assertion or employment
of any other right or remedy.

 

(b)          In
the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights
of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including
execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

 

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Section 15.         Insurance.

 

(a)          The
Company will use its reasonable best efforts to acquire directors and officers liability insurance, on terms and conditions deemed
appropriate by the Board of Directors, with the advice of counsel, covering Indemnitee or any claim made against Indemnitee by
reason of Indemnitee’s Corporate Status and covering the Company for any indemnification or advance of Expenses made by the
Company to Indemnitee for any claims made against Indemnitee by reason of Indemnitee’s Corporate Status. In the event of
a Change in Control, the Company shall maintain in force any and all directors and officers liability insurance policies that were
maintained by the Company immediately prior to the Change in Control for a period of six years with the insurance carrier or carriers
and through the insurance broker in place at the time of the Change in Control; provided, however, (i) if the carriers will not
offer the same policy and an expiring policy needs to be replaced, a policy substantially comparable in scope and amount shall
be obtained and (ii) if any replacement insurance carrier is necessary to obtain a policy substantially comparable in scope and
amount, such insurance carrier shall have an AM Best rating that is the same or better than the AM Best rating of the existing
insurance carrier; provided, further, however, in no event shall the Company be required to expend in the aggregate in excess of
250% of the annual premium or premiums paid by the Company for directors and officers liability insurance in effect on the date
of the Change in Control. In the event that 250% of the annual premium paid by the Company for such existing directors and officers
liability insurance is insufficient for such coverage, the Company shall spend up to that amount to purchase such lesser coverage
as may be obtained with such amount.

 

(b)          Without
in any way limiting any other obligation under this Agreement, the Company shall indemnify Indemnitee for any payment by Indemnitee
which would otherwise be indemnifiable hereunder arising out of the amount of any deductible or retention and the amount of any
excess of the aggregate of all judgments, penalties, fines, settlements and Expenses incurred by Indemnitee in connection with
a Proceeding over the coverage of any insurance referred to in Section 15(a). The purchase, establishment and maintenance of any
such insurance shall not in any way limit or affect the rights or obligations of the Company or Indemnitee under this Agreement
except as expressly provided herein, and the execution and delivery of this Agreement by the Company and Indemnitee shall not in
any way limit or affect the rights or obligations of the Company under any such insurance policies. If, at the time the Company
receives notice from any source of a Proceeding to which Indemnitee is a party or a participant (as a witness or otherwise) the
Company has director and officer liability insurance in effect, the Company shall give prompt notice of such Proceeding to the
insurers in accordance with the procedures set forth in the respective policies.

 

(c)          The
Indemnitee shall cooperate with the Company or any insurance carrier of the Company with respect to any Proceeding.

 

Section 16.         Coordination
of Payments. The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable or
payable or reimbursable as Expenses hereunder if and to the extent that Indemnitee has otherwise actually received such payment
under any insurance policy, contract, agreement or otherwise.

 

Section 17.         Contribution.
If the indemnification provided in this Agreement is unavailable in whole or in part and may not be paid to Indemnitee for any
reason, other than for failure to satisfy the standard of conduct set forth in Section 4 or due to the provisions of Section 5,
then, with respect to any Proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such Proceeding),
to the fullest extent permissible under applicable law, the Company, in lieu of indemnifying and holding harmless Indemnitee, shall
pay, in the first instance, the entire amount incurred by Indemnitee, whether for Expenses, judgments, penalties, and/or amounts
paid or to be paid in settlement, in connection with any Proceeding without requiring Indemnitee to contribute to such payment,
and the Company hereby waives and relinquishes any right of contribution it may have at any time against Indemnitee.

 

    -10-

     

    

 

Section 18.         Reports
to Stockholders. To the extent required by the MGCL, the Company shall report in writing to its stockholders the payment of
any amounts for indemnification of, or advance of Expenses to, Indemnitee under this Agreement arising out of a Proceeding by or
in the right of the Company with the notice of the meeting of stockholders of the Company next following the date of the payment
of any such indemnification or advance of Expenses or prior to such meeting.

 

Section 19.         Duration
of Agreement; Binding Effect.

 

(a)          This
Agreement shall continue until and terminate on the later of (i) the date that Indemnitee shall have ceased to serve as a
director, officer, employee or agent of the Company or as a director, trustee, officer, partner, manager, managing member,
fiduciary, employee or agent of any other foreign or domestic corporation, real estate investment trust, partnership, limited
liability company, joint venture, trust, employee benefit plan or other enterprise that such person is or was serving in such capacity
at the request of the Company and (ii) the date that Indemnitee is no longer subject to any actual or possible Proceeding (including
any rights of appeal thereto and any Proceeding commenced by Indemnitee pursuant to Section 12 of this Agreement).

 

(b)          The
indemnification and advance of Expenses provided by, or granted pursuant to, this Agreement shall be binding upon and be enforceable
by the parties hereto and their respective successors and assigns (including any direct or indirect successor by purchase, merger,
consolidation or otherwise to all or substantially all of the business or assets of the Company), shall continue as to an Indemnitee
who has ceased to be a director, officer, employee or agent of the Company or a director, trustee, officer, partner, manager, managing
member, fiduciary, employee or agent of any other foreign or domestic corporation, real estate investment trust, partnership, limited
liability company, joint venture, trust, employee benefit plan or other enterprise that such person is or was serving in such capacity
at the request of the Company, and shall inure to the benefit of Indemnitee and Indemnitee’s spouse, assigns, heirs, devisees,
executors and administrators and other legal representatives.

 

(c)          The
Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all,
substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance
satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that
the Company would be required to perform if no such succession had taken place.

 

(d)          The
Company and Indemnitee agree that a monetary remedy for breach of this Agreement, at some later date, may be inadequate, impracticable
and difficult to ascertain, and further agree that such breach may cause Indemnitee irreparable harm. Accordingly, the parties
hereto agree that Indemnitee may enforce this Agreement by seeking injunctive relief and/or specific performance hereof, without
any necessity of showing actual damage or irreparable harm and that by seeking injunctive relief and/or specific performance, Indemnitee
shall not be precluded from seeking or obtaining any other relief to which Indemnitee may be entitled. Indemnitee shall further
be entitled to such specific performance and injunctive relief, including temporary restraining orders, preliminary injunctions
and permanent injunctions, without the necessity of posting bonds or other undertakings in connection therewith. The Company acknowledges
that, in the absence of a waiver, a bond or undertaking may be required of Indemnitee by a court, and the Company hereby waives
any such requirement of such a bond or undertaking.

 

    -11-

     

    

 

Section 20.         Severability.
If any provision or provisions of this Agreement shall be held to be invalid, void, illegal or otherwise unenforceable for any
reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including,
without limitation, each portion of any Section, paragraph or sentence of this Agreement containing any such provision held to
be invalid, void, illegal or otherwise unenforceable that is not itself invalid, void, illegal or otherwise unenforceable) shall
not in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law; (b) such
provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect
to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including,
without limitation, each portion of any Section, paragraph or sentence of this Agreement containing any such provision held to
be invalid, void, illegal or otherwise unenforceable, that is not itself invalid, void, illegal or otherwise unenforceable) shall
be construed so as to give effect to the intent manifested thereby.

 

Section 21.         Counterparts.
This Agreement may be executed in one or more counterparts, (delivery of which may be by facsimile, or via e-mail as a portable
document format (.pdf) or other electronic format), each of which will be deemed to be an original, and it will not be necessary
in making proof of this Agreement or the terms of this Agreement to produce or account for more than one such counterpart. One
such counterpart signed by the party against whom enforceability is sought shall be sufficient to evidence the existence of this
Agreement.

 

Section 22.         Headings.
The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of
this Agreement or to affect the construction thereof.

 

Section 23.         Modification
and Waiver. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both
of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any
other provisions hereof (whether or not similar) nor, unless otherwise expressly stated, shall such waiver constitute a continuing
waiver.

 

Section 24.         Notices.
All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given
if (i) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed,
on the day of such delivery, or (ii) mailed by certified or registered mail with postage prepaid, on the third business day
after the date on which it is so mailed:

 

(a)          If
to Indemnitee, to the address set forth on the signature page hereto.

 

    -12-

     

    

  

(b)          If
to the Company, to:

 

________________________

________________________

________________________

 

or to such other address as may have been furnished in writing
to Indemnitee by the Company or to the Company by Indemnitee, as the case may be.

 

Section 25.         Governing
Law. This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Maryland,
without regard to its conflicts of laws rules.

 

[SIGNATURE PAGE FOLLOWS]

 

    -13-

     

    

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the day and year first above written.

 

	 	POSTAL REALTY TRUST, INC.	 
	 	 	 
	 	By:	 	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	INDEMNITEE:	 
	 	 	 
	 	 	 
	 	Name:	 
	 	Address:	 

  

    -14-

     

    

 

EXHIBIT A

 

AFFIRMATION
AND UNDERTAKING TO REPAY EXPENSES ADVANCED

 

To: The Board of Directors of Postal Realty Trust, Inc.

 

Re: Affirmation and Undertaking

 

Ladies and Gentlemen:

 

This Affirmation and Undertaking is being
provided pursuant to that certain Indemnification Agreement dated the _____ day of ______________, 20____, by and between Postal
Realty Trust, Inc., a Maryland corporation (the “Company”), and the undersigned Indemnitee (the “Indemnification
Agreement”), pursuant to which I am entitled to advance of Expenses in connection with [Description of Proceeding]
(the “Proceeding”).

 

Terms used herein and not otherwise defined
shall have the meanings specified in the Indemnification Agreement.

 

I am subject to the Proceeding by reason
of my Corporate Status or by reason of alleged actions or omissions by me in such capacity. I hereby affirm my good faith belief
that at all times, insofar as I was involved as [a director] [and] [an officer] of the Company, in any of the facts or events
giving rise to the Proceeding, I (1) did not act with bad faith or active or deliberate dishonesty, (2) did not receive
any improper personal benefit in money, property or services and (3) in the case of any criminal proceeding, had no reasonable
cause to believe that any act or omission by me was unlawful.

 

In consideration of the advance by the Company
for Expenses incurred by me in connection with the Proceeding (the “Advanced Expenses”), I hereby agree that if, in
connection with the Proceeding, it is established that (1) an act or omission by me 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 or (2) I
actually received an improper personal benefit in money, property or services or (3) in the case of any criminal proceeding,
I had reasonable cause to believe that the act or omission was unlawful, then I shall promptly reimburse the portion of the Advanced
Expenses relating to the claims, issues or matters in the Proceeding as to which the foregoing findings have been established.

 

IN WITNESS WHEREOF, I have executed this
Affirmation and Undertaking on this ___ day of ____________________, 20____.

 

	 	Name:Exhibit 10.8

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT
AGREEMENT, effective as of the Effective Date (as hereinafter defined) between POSTAL REALTY TRUST, INC., a Maryland
corporation (the "Company"), and Andrew Spodek (the "Executive"), recites
and provides as follows:

 

WHEREAS, the
Company desires to employ the Executive as its Chief Executive Officer, subject to the terms and conditions of this Agreement.

 

NOW, THEREFORE,
for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Executive
hereby agree as follows:

 

1.     
     Employment and Duties.

 

(a)          General.
The Company shall employ the Executive, and the Executive agrees to be so employed, in the capacity of the Company’s Chief
Executive Officer to serve for the Term (as hereinafter defined) hereof, subject to earlier termination as hereinafter provided.
The Executive shall have such duties and responsibilities commensurate with such title and
as the Board may designate from time to time.  The Executive shall at all times be the highest ranking officer of the Company
and shall report exclusively to the Board and/or such committees thereof as the Board may designate. In addition, the Executive
shall be appointed to serve as a director on the Board and, at each annual stockholders meeting during the Term of Employment,
shall be nominated for re-election to the Board, in each case to the extent not inconsistent with the fiduciary duties of the Board
in making such appointment and re-nomination.  The Executive shall be based at the Company’s corporate headquarters
in Cedarhurst, New York, unless and until the corporate headquarters are moved to another location, which will then be the location
where the Executive is based.

 

(b)          Exclusive
Services. The Executive shall devote substantially all of the Executive’s business time, attention and effort to the
Company’s affairs. Notwithstanding the foregoing, the Executive may (i) serve on corporate boards, provided the Executive
receives prior permission from the Board; and (ii) serve on corporate, civic and children sports organizations or charitable
boards or engage in charitable activities without remuneration therefor, provided that such activity does not contravene the first
sentence of this Section.

 

(c)          Dodd-Frank,
Sarbanes-Oxley and Other Applicable Law Requirements. The Executive agrees (i) to abide by any compensation recovery, recoupment,
anti-hedging or other policy applicable to executives of the Company and its affiliates that is hereafter adopted by the Board
or a duly authorized committee thereof to comply with applicable law as required by the Dodd-Frank Wall Street Reform and Consumer
Protection Act of 2010 (the "Dodd-Frank Act"),
the Sarbanes-Oxley Act of 2002 ("Sarbanes-Oxley"),
or other applicable law; and (ii) that the terms and conditions of this Agreement shall be deemed automatically and unilaterally
amended to the minimum extent necessary to ensure compliance by the Executive and this Agreement with such policies, the Dodd-Frank
Act, Sarbanes-Oxley, and any other applicable law. 

 

    	 	-1-	 

     

    

 

2.      
    Term. The Initial Term of the Executive’s employment hereunder (the "Initial
Term") shall be for a period of three (3) years
commencing on the closing date of the initial public offering of the Company’s Common stock (the "Effective
Date"), and continuing until the third
anniversary of the Effective Date. The term of this Agreement shall be extended automatically for up to two, successive
twelve (12) month periods, beginning on the last day of the Initial Term and each twelve (12) month renewal period thereafter
unless the Company or the Executive has provided the other with written notice of an intention to terminate this Agreement at
least ninety (90) days before the end of the Initial Term (or any subsequent renewal period). For purposes of this
Agreement, the word "Term" means
the Initial Term and any renewal period pursuant to the preceding sentence and any extension pursuant to clause (ii) of
the following sentence. Notwithstanding the preceding sentences (i) this Agreement may be terminated earlier as provided
herein and (ii) if a Change in Control (as defined in the 2019 Equity Incentive Plan) occurs during the Term, then the Term
shall not end before the first anniversary of the Control Change Date or the date this Agreement is terminated earlier as
provided herein.

 

3. 
         Compensation and Benefits.

 

(a)          Base
Salary. During the Term, the Company will pay the Executive a base salary of $350,000 per year ("Base
Salary"), less payroll deductions and all required
withholdings, payable in accordance with the Company's payroll practices and prorated for any partial month of employment. The
annual base salary may be increased, but not decreased, by the Compensation Committee of the Board of Directors of the Company
(the "Compensation Committee")
in its discretion pursuant to the Company's policies as in effect from time to time, and such increased amount thereafter will
be the Executive’s base salary per year for purposes of this Agreement.

 

(b)          Annual
Bonus. The Executive shall also be eligible to receive an annual incentive bonus for each calendar year ending during the Term
with a target bonus of 125% of Base Salary, with the actual amount of such bonus to be determined by the Compensation Committee,
using such performance measures as mutually agreed upon by the Company and the Executive.  Such bonus, if any, shall be paid
to the Executive in the form of a lump sum no later than sixty (60) days after the end of the year to which the bonus relates. 
Except as otherwise provided in Section 4: (i) the annual bonus will be subject to the terms of any Company bonus plan
under which it is granted and (ii) in order to be eligible to receive an annual bonus, the Executive must be employed by the
Company on the last day of the calendar year to which the performance relates.

 

(c)          Long-Term
Incentives. During the Term of this Agreement, the Executive shall be eligible to participate in the Company’s 2019 Long-Term
Incentive Plan, or any other equity compensation plan adopted by the Company, on terms no less favorable than those that apply
to similarly situated executive officers of the Company.

 

(d)          Health
Insurance and Medical Exam. During the Term of this Agreement, the Company shall (i) provide the Executive and his dependents
with health insurance, life insurance and disability coverage no less favorable than that made available to other key executives
and (ii) pay or reimburse the Executive for all reasonable costs of an annual medical exam of the Executive by a physician of his
choice.

 

    	 	-2-	 

     

    

 

(e)          Paid
Time Off.  During the Term of this Agreement, the Executive shall be entitled to paid time off ("PTO")
in accordance with the Company’s PTO policy, as it may be amended from time to time, but in no event shall it be less than
four weeks per year.

 

(f)          Business
Expenses.  The Executive shall be entitled to reimbursement of business expenses that are incurred in the ordinary course
of business, in accordance with the applicable expense reimbursement policies and procedures of the Company as in effect from time
to time.

 

(g)          Other
Benefits. In addition to the benefits provided pursuant to the preceding paragraphs of this Section 3, the Executive
shall be eligible to participate in such other executive compensation and retirement plans of the Company as are applicable generally
to other executive officers, and in such welfare plans, programs, practices and policies of the Company as are generally applicable
to other executive officers, unless such participation would duplicate, directly or indirectly, benefits already accorded to the
Executive. In addition, the Company agrees to reimburse the Executive up to $30,000 per annum for reasonable additional benefits
that may cover, amongst other things, life insurance premiums, financial and tax planning assistance, etc.

 

(h)          Indemnification.
To the fullest extent permitted by the indemnification provisions of the articles of incorporation (or similar document) and Bylaws
of the Company in effect from time to time and the indemnification provisions of the corporate statute of the jurisdiction of the
Company’s incorporation in effect from time to time (collectively the "Indemnification Provisions"),
and in each case subject to the conditions thereof, the Company shall (i) indemnify the Executive, as a director and officer
of the Company or a trustee or fiduciary of an employee benefit plan of the Company against all liabilities and reasonable expenses
that the Executive may incur in any threatened, pending, or completed action, suit or proceeding, whether civil, criminal or administrative,
or investigative and whether formal or informal, because the Executive is or was a director or officer of the Company or a trustee
or fiduciary of such employee benefit plan, and against which the Executive may be indemnified by the Company, and (ii) pay
for or reimburse the reasonable expenses incurred by the Executive in the defense of any proceeding to which the Executive is a
party because the Executive is or was a director or officer of the Company or a trustee or fiduciary of such employee benefit plan.
The rights of the Executive under the Indemnification Provisions shall survive the termination of the employment of the Executive
by the Company. Additionally, to the extent that the Company maintains a directors’ and officers’ liability insurance
policy (or policies), or an errors and omissions liability insurance policy (or policies), in place covering individuals who are
current or former officers or directors of the Company, the Executive shall be entitled to coverage under such policies on the
same terms and conditions (including, without limitation, with respect to scope, exclusions, amounts and deductibles) as are available
to other senior executives of the Company, while the Executive is employed with the Company and thereafter until the sixth anniversary
of the Executive’s termination date. Nothing in this Agreement shall require the Company to purchase or maintain any such
insurance policy.

 

    	 	-3-	 

     

    

 

4.   
       Payments Upon Termination of Employment.

 

(a)          Termination
by the Company without Cause, or Termination by the Executive for Good Reason, or Termination Due to the Executive’s Death
or Disability.  If during the Term of this Agreement the Executive’s employment is terminated (x) by the Company
without Cause or (y) by the Executive for Good Reason or (z) due to the Executive’s death or Disability, then the Executive
shall be entitled to the following from the Company: (1) Base Salary accrued through the date of termination, based on the number
of days in such year that had elapsed as of the termination date; (2) any accrued but unpaid PTO through the date of termination;
(3) any bonuses earned but unpaid with respect to fiscal years or other completed bonus periods preceding the termination date;
(4) any vested benefits due to the Executive under the terms of any deferred compensation, incentive or other benefit plans maintained
by the Company, payable in accordance with the terms of the applicable plan; (5)  any expenses owed to the Executive under Sections
3(f), or 3(g); (6) all of the Executive’s outstanding stock options, restricted stock or other equity awards
with time-based vesting shall become fully vested and, in the case of stock options, exercisable in full; (7) the treatment of
all of the Executive’s outstanding stock options, restricted stock, restricted stock units or other equity awards with performance-based
vesting shall be determined in accordance with the long-term incentive plan, and any other plans, pursuant to which such awards
were granted and the applicable award agreement; (8) a lump sum payment equal to the sum of: (A) three times the Executive’s
Base Salary and (B) three times the Executive’s target bonus opportunity for the year within which his employment is terminated
(however, if such target opportunity has not been set by the Board or the Compensation Committee as of the Executive’s termination,
then this subsection 4(a)(8)(B) shall be equal to three times the Executive’s Base Salary); and (9) a lump sum amount
equal to twelve months of the monthly premium payment to continue the Executive’s (and the Executive’s family’s)
existing group health, dental coverage and vision, calculated under the applicable provisions of Section 4980B of the Code, and
calculated without regard to whether the Executive actually elects such continuation coverage. All payments required to be made
pursuant to this Section 4(a) shall be made to the Executive within sixty (60) days following the date of such termination
of employment and within any shorter time period required by law.

 

 

(i)          For
purposes of this Agreement, "Cause" shall mean: (1) the Executive’s intentional failure to perform
a material duty as directed by the Board (other than a failure to perform by reason of the Executive’s death or Disability);
(2) the Executive’s knowing material breach of an obligation in this Agreement or a knowing breach of a material written
policy of the Company; (3) the Executive’s knowing breach of a material duty to the Company; (4) intentional conduct by the
Executive that is demonstrably and material injurious to the Company; or (5) the Executive’s conviction of, or plea of guilty
or nolo contender to, (y) a felony or (z) a crime involving moral turpitude or fraud involving the assets of the Company.
Notwithstanding anything in this Section 4(a)(i) to the contrary, no event or condition described in the foregoing (1) through
(4) shall constitute Cause unless (x) within ninety (90) days from the Board first acquiring actual knowledge of the existence
of the Cause condition, the Board provides the Executive written notice of its intention to terminate the Executive’s employment
for Cause and the grounds for such termination; (y) such grounds for termination (if susceptible to correction) are not corrected
by the Executive within thirty (30) days of the Executive’s receipt of such notice (or, in the event that such grounds cannot
be corrected within such thirty-day (30 period, the Executive has not taken all reasonable steps within such thirty-day (30) period
to correct such grounds as promptly as practicable thereafter); and (z) the Board terminates the Executive’s employment with
the Company immediately following expiration of such thirty-day (30) period.  For purposes of the foregoing, any attempt by
the Executive to correct a stated Cause shall not be deemed an admission by the Executive that the Board’s assertion of Cause
is valid.

 

    	 	-4-	 

     

    

 

(ii)         For
purposes of this Agreement, "Good Reason" shall mean: (1) the assignment of duties materially inconsistent
with the Executive’s title and position; (2) a material diminution in the Executive’s annual Base Salary or annual
bonus opportunity; (3) a material diminution in the Executive’s authority, duties or responsibilities (e.g., such material
diminution includes the Company ceasing to be a reporting company under the Securities Exchange Act of 1934), or the Company or
the Board prevents the Executive from fulfilling or exercising such authority, duties or responsibilities; (4) a material breach
by the Company of this Agreement, (5) this Agreement is not assumed by the successor to the Company in a Change in Control transaction
or (6) the Company requiring the Executive to be based at any office or location more than fifty miles from Cedarhurst, New York,
however, notwithstanding the foregoing to the contrary, any relocation required of the Executive due to the Company relocating
its headquarters shall not be deemed to violate this subsection 4(a)(ii)(6) or provide the Executive with rights to Good
Reason under this Agreement. No event or condition described in the foregoing shall constitute Good Reason unless, (x) within ninety
(90) days from the Executive first acquiring actual knowledge of the existence of the Good Reason condition described in the foregoing,
the Executive provides the Board written notice of the Executive’s intention to terminate the Executive’s employment
for Good Reason and the grounds for such termination; (y) such grounds for termination (if susceptible to correction) are not corrected
by the Board within thirty (30) days of the Board’s receipt of such notice (or, in the event that such grounds cannot be
corrected within such thirty-day (30) period, the Board has not taken all reasonable steps within such thirty-day (30) period to
correct such grounds as promptly as practicable thereafter); and (z) the Executive terminates the Executive’s employment
with the Company immediately following expiration of such thirty-day (30) period. For purposes of the foregoing, any attempt by
the Board to correct a stated Good Reason shall not be deemed an admission by the Board that the Executive’s assertion of
Good Reason is valid.

 

(iii)        For
purposes of this Agreement, "Disability" shall mean that the Executive has been unable to engage in any
substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result
in death or which has lasted or can be expected to last for a continuous period of not less than 12 months, and the permanence
and degree of which shall be supported by medical evidence satisfactory to the Board. The determination of a Disability for purposes
of this Agreement shall be made by the Board in its sole and absolute discretion.

 

(b)          Termination
of the Executive’s Employment by the Company for Cause, or by the Executive without Good Reason or Upon Expiration of the
Term. If the Executive’s employment is terminated by the Company for Cause or by the Executive without Good Reason or
upon expiration of the Term without this Agreement being renewed, then the Executive shall only be entitled to the payments set
forth in subsections 4(a)(1)-(6). All payments required to be made pursuant to this subsection 4(b) shall be made
to the Executive within sixty (60) days following the date of such termination of employment and within any shorter time period
required by law.

 

    	 	-5-	 

     

    

 

(c)          Waiver
and Release. Notwithstanding any other provisions of this Agreement to the contrary, the Company shall not make or provide
for the payments in Section 4(a) unless the Executive timely executes and delivers to the Company a general release
(which shall be provided by the Company not later than five (5) days from the date on which the Executive’s employment
is terminated and be substantially in the form attached hereto as Exhibit A, the "Waiver and Release"),
and such Waiver and Release remains in full force and effect, has not been revoked and is no longer subject to revocation, within
sixty (60) calendar days after the date of termination. If the requirements of this Section 4(c) are not satisfied by the
Executive (or the Executive’s estate or legally appointed personal representative), then no payments pursuant to Section
4(a) shall be due to the Executive (or the Executive’s estate) pursuant to this Agreement. The foregoing payments subject
to this Section 4(c) shall not be paid until the first scheduled payment date following the date the Waiver and Release
is executed and no longer subject to revocation; provided, that if the period during which the Executive has discretion
to execute or revoke the Waiver and Release straddles two calendar years, then the payments subject to this Section 4(c)
shall be paid or commence being paid, as applicable, in the second calendar year, with the first such payment being in an amount
equal to the total amount to which the Executive would otherwise have been entitled during the period following the date of termination
if such deferral had not been required.

 

(d)          Resignation
from Directorships, Officerships and Fiduciary Titles. The termination of the Executive’s employment for any reason shall
constitute the Executive’s immediate resignation from (i) any officer or employee position the Executive has with the Company,
unless mutually agreed upon by the Executive and the Board; (ii) any position on the Board; and (iii) all fiduciary positions (including
as a trustee) the Executive holds with respect to any employee benefit plans or trusts established by the Company. The Executive
agrees that this Agreement shall serve as written notice of resignation in this circumstance.

 

5.     
     Section 280G. Notwithstanding anything else in this Agreement to the contrary, in the
event that it shall be determined that any payments or distributions by the Company to or for the benefit of the Executive,
whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise (together, the
"Payments") would constitute "parachute payments" within the meaning of Section 280G of the
Code, then the Payments shall be payable either in (i) full or (ii) as to such lesser amount which would result in no portion
of such Payments being subject to the excise tax imposed under Section 4999 of the Code, such that the Executive shall
receive the greater, on an after-tax basis, of either (i) or (ii) above, as determined by an independent accountant or tax
advisor ("Independent Tax Advisor") selected by the Company.  In the event that the Payments are
to be reduced pursuant to this Section 5, such Payments shall be reduced as determined by the Independent Tax
Advisor such that the reduction of compensation to be provided to or for the benefit of the Executive as a result of
this Section 5 is minimized and to effectuate that, Payments shall be reduced (i) by first reducing or
eliminating the portion of such Payments which is not payable in cash (other than that portion of such payments that is
subject to clause (iii) below), (ii) then by reducing or eliminating cash Payments (other than that portion of such Payments
subject to clause (iii) below) and (iii) then by reducing or eliminating the portion of such Payments (whether or not payable
in cash) to which Treas. Reg. §1.280G-1 Q/A 24(c) (or any successor provision thereto) applies, in each case in reverse
order beginning with Payments which are to be paid the farthest in time from the date of the transaction constituting a
change in ownership of the Company within the meaning of Section 280G of the Code.  Any reductions made pursuant to
this Section 5 shall be made in a manner consistent with the requirements of Section 409A and where two
economically equivalent amounts are subject to reduction but payable at different times, such amounts shall be reduced on a
pro rata basis but not below zero. If any dispute arises between the Company (or any successor) and the Executive regarding
the Executive’s right to payments under this Section 5, the Executive shall be entitled to recover his
attorneys’ fees and costs incurred in connection with such dispute if the Executive is determined to be the prevailing
party.  The following additional terms and conditions shall apply to the reimbursement of any attorneys’ fees and
costs: (i) the attorneys’ fees and costs must be incurred by the Executive within five years following the date of the
Executive’s termination or resignation; (ii) the attorneys’ fees and costs shall be paid by the Company by the
end of the taxable year following the year in which the attorneys’ fees and costs were incurred; (iii) the amount of
any attorneys’ fees and costs paid by the Company in one taxable year shall not affect the amount of any
attorneys’ fees and costs to be paid by the Company in any other taxable year; and (iv) the Executive’s right to
receive attorneys’ fees and costs may not be liquidated or exchanged for any other benefit.

 

    	 	-6-	 

     

    

 

6.     
     Withholding and Section 409A Compliance.

 

(a)          Withholding.
The Company shall, to the fullest extent not prohibited by law, have the right to withhold and deduct from any payment hereunder
any federal, state or local taxes of any kind required by law to be withheld with respect to any such payment.

 

(b)          Section
409A of the Code. This Agreement is intended to comply with the requirements of Section 409A of the Code or an exemption thereunder,
and shall be interpreted and construed consistently with such intent.  The payments to the Executive pursuant to this Agreement
are intended to be exempt from Section 409A of the Code to the maximum extent possible, under the separation pay exemption, as
short-term deferrals, or otherwise.  For purposes of Section 409A of the Code, each installment payment provided under this
Agreement shall be treated as a separate payment.  In the event the terms of this Agreement would subject the Executive to
additional income taxes, interest or penalties under Section 409A of the Code ("409A Penalties"), the Company
and the Executive shall cooperate diligently to amend the terms of this Agreement to avoid such 409A Penalties, to the extent possible. 
To the extent any amounts under this Agreement are payable by reference to the Executive’s "termination," "termination
of employment," or similar phrases, such term shall be deemed to refer to the Executive’s "separation from service"
(as defined in Section 409A of the Code).  Notwithstanding any other provision in this Agreement, including but not limited
to Sections 4 and 5, if the Executive is a "specified employee" (as defined in Section 409A(a)(2)(b)(i)),
then to the extent any amount payable under this Agreement (i) constitutes the payment of nonqualified deferred compensation,
within the meaning of Section 409A of the Code, (ii) is payable upon the Executive’s separation from service, and (iii) under
the terms of this Agreement would be payable prior to the six-month anniversary of the Executive’s separation from service,
such payment shall be delayed and paid to the Executive, on the first day of the first calendar month beginning at least six months
following the date of termination, or, if earlier, within ninety (90) days following the Executive’s death to the Executive’s
surviving spouse (or such other beneficiary as the Executive may designate in writing).  Any reimbursement or advancement
payable to the Executive pursuant to this Agreement shall be conditioned on the submission by the Executive of all expense reports
reasonably required by the Company under any applicable expense reimbursement policy, and shall be paid to the Executive within
thirty (30) days following receipt of such expense reports, but in no event later than the last day of the calendar year following
the calendar year in which the Executive incurred the reimbursable expense.  Any amount of expenses eligible for reimbursement,
or in-kind benefit provided, during a calendar year shall not affect the amount of expenses eligible for reimbursement, or in-kind
benefit to be provided, during any other calendar year.  The right to any reimbursement or in-kind benefit pursuant to this
Agreement shall not be subject to liquidation or exchange for any other benefit.

 

    	 	-7-	 

     

    

 

7. 
         Protection of Confidential Information. The Executive hereby
agrees that, during his employment with the Company and thereafter, he shall not, directly or indirectly, disclose or make
available to any person, firm, Company, association or other entity for any reason or purpose whatsoever, any Confidential
Information (defined below).  The Executive further agrees that, upon the date of the Executive’s termination, all
Confidential Information in his possession that is in written or other tangible form shall be returned to the Company and
shall not be retained by the Executive or furnished to any third party, in any form except as provided herein. 
Notwithstanding the foregoing, this Section 7 shall not apply to Confidential Information that (i) was publicly
known at the time of disclosure to the Executive, (ii) becomes publicly known or available thereafter other than by any means
in violation of this Agreement or any other duty owed to the Company by the Executive, (iii) is lawfully disclosed to
the Executive by a third party, or (iv) is required to be disclosed by law or by any court, arbitrator or administrative or
legislative body with actual or apparent jurisdiction to order the Executive to disclose or make accessible any
information.  As used in this Agreement, Confidential Information means, without limitation, any non-public confidential
or proprietary information disclosed to the Executive or known by the Executive as a consequence of or through the
Executive’s relationship with the Company, in any form, including electronic media.  Confidential Information also
includes, but is not limited to the Company’s business plans and financial information, marketing plans, and business
opportunities.  Nothing herein shall limit in any way any obligation the Executive may have relating to Confidential
Information under any other agreement or promise to the Company.

 

The Executive specifically
acknowledges that all such Confidential Information, whether reduced to writing, maintained on any form of electronic media, or
maintained in the mind or memory of the Executive and whether compiled by the Company, and/or the Executive, derives independent
economic value from not being readily known to or ascertainable by proper means by others who can obtain economic value from its
disclosure or use, that reasonable efforts have been made by the Company to maintain the secrecy of such information, that such
information is the sole property of the Company and that any retention and use of such information by the Executive during his
employment with the Company (except in the course of performing his duties and obligations to the Company) or after the termination
of his employment shall constitute a misappropriation of the Company’s trade secrets.

 

    	 	-8-	 

     

    

 

The Executive agrees
that Confidential Information gained by the Executive during the Executive’s association with the Company, has been developed
by the Company through substantial expenditures of time, effort and money and constitute valuable and unique property of the Company. 
The Executive recognizes that because his work for the Company will bring him into contact with confidential and proprietary information
of the Company, the restrictions of this Section 7 are required for the reasonable protection of the Company and
its investments and for the Company’s reliance on and confidence in the Executive.  The Executive further understands
and agrees that the foregoing makes it necessary for the protection of the Company’s business that the Executive not compete
with the Company during his employment with the Company and not compete with the Company for a reasonable period thereafter, as
further provided in the following Section 8.

 

8.    
      Covenant Not to Compete. The Executive hereby agrees that he will not, either
during the Term or at all times until the earlier of one year from the time his employment ceases or a Change in Control of
the Company (such earlier of being, the "Restricted Period"), engage in the (i) ownership or
operation of post office facilities; (ii) investment in or lending to post office facilities; (iii) management of post office
facilities; or (iv) provision of any planning, development or executive services for post office facilities. The Executive
will be deemed to be engaged in such competitive business activities if he participates in such a business enterprise as an
employee, officer, director, consultant, agent, partner, proprietor, or other participant; provided that the ownership of no
more than two percent (2%) of the stock of a publicly traded Company engaged in a competitive business shall not be deemed to
be engaging in competitive business activities.

 

During the Restricted
Period, the Executive will be prohibited, to the fullest extent allowed by applicable law, from directly or indirectly, individually
or on behalf of any person or entity, encouraging, inducing, attempting to induce, recruiting, attempting to recruit, soliciting
or attempting to solicit or participating in the recruitment for employment, contractor or consulting opportunities anyone who
is employed at that time by the Company or any subsidiary or affiliate.

 

During his employment
with the Company and thereafter, the Executive will not make or authorize anyone else to make on the Executive’s behalf any
disparaging or untruthful remarks or statements, whether oral or written, about the Company, its operations or its products, services,
affiliates, officers, directors, employees, or agents, or issue any communication that reflects adversely on or encourages any
adverse action against the Company.  The Executive will not make any direct or indirect written or oral statements to the
press, television, radio or other media or other external persons or entities concerning any matters pertaining to the business
and affairs of the Company, its affiliates or any of its officers or directors.

 

While employed by the
Company and during the Restricted Period, the Executive will communicate the contents of this Section 8 to any
person, firm, association, partnership, Company or other entity that the Executive intends to be employed by, associated with,
or represent.

 

    	 	-9-	 

     

    

 

9.      
    Injunctive Relief. The Executive acknowledges and agrees that it would be difficult to fully
compensate the Company for damages resulting from the breach or threatened breach of the covenants set forth
in Sections 7 and 8 of this Agreement and accordingly agrees that the Company shall be entitled to temporary and
injunctive relief, including temporary restraining orders, preliminary injunctions and permanent injunctions, without the
need to post any bond, to enforce such provisions in any action or proceeding instituted in any court in the State of New
York having subject matter jurisdiction.  This provision with respect to injunctive relief shall not, however, diminish
the Company’s right to claim and recover damages.

 

10.         Notices.
All notices or communications hereunder shall be in writing and sent by overnight courier, certified mail, or registered mail (return
receipt requested), postage prepaid, addressed as follows (or to such other address as such party may designate in writing from
time to time):

 

If to the Company:

 

Postal Realty Trust, Inc.

75 Columbia Ave.

Cedarhurst, NY 11516

Attention:  Chairman of the Compensation Committee

 

If to the Executive,
at the address on file with the Company’s Human Resources department.

 

The actual date of
mailing, as shown by a mailing receipt therefor, shall determine the time at which notice was given.

 

11.         Separability.
If any provision of this Agreement shall be declared to be invalid or unenforceable, in whole or in part, such invalidity or unenforceability
shall not affect the remaining provisions hereof which shall remain in full force and effect. It is expressly understood and agreed
that although the parties consider the restrictions contained in this Agreement to be reasonable, if a court determines that
the time or territory or any other restriction contained in this Agreement is an unenforceable restriction on the activities of
the Executive, no such provision of this Agreement shall be rendered void but shall be deemed amended to apply as to such maximum
time and territory and to such extent as such court may judicially determine or indicate to be reasonable.

 

12.         Assignment.
This Agreement shall be binding upon and inure to the benefit of the heirs and representatives of the Executive and the assigns
and successors of the Company, but neither this Agreement nor any rights or obligations hereunder shall be assignable or otherwise
subject to hypothecation by the Executive.

 

13.         Entire
Agreement. This Agreement represents the entire agreement of the parties and shall supersede any and all previous contracts,
arrangements or understandings between the Company and the Executive (including the Prior Employment Agreement).  This Agreement
may be amended at any time by mutual written agreement of the parties hereto.

 

    	 	-10-	 

     

    

 

14.         Governing
Law and Arbitration. This Agreement shall be construed, interpreted, and governed in accordance with the laws of the State
of New York, without regard to principles of conflicts of laws. Any dispute, controversy or claim arising out of or related to
this Agreement or any breach of this Agreement shall be submitted to and decided by binding arbitration. Arbitration shall be administered
exclusively by the American Arbitration Association and shall be conducted in accordance with the National Rules for the Resolution
of Employment Disputes. Any arbitral award determination shall be final and binding upon the parties. Judgment may be entered in
any court having jurisdiction. Notwithstanding the foregoing, the Company shall be entitled to seek a restraining order or injunction
in any court of competent jurisdiction to prevent any continuation of any violation of Sections 7 or 8 hereof. Notwithstanding
anything in this Agreement or any other agreement to the contrary, in the event a legal dispute occurs between the Company and
the Executive, then the Company shall reimburse the Executive for his legal fees irrespective of whether the Executive is the prevailing
party.

 

15.         Survival.
Subject to any limits on applicability contained therein, Sections 7 through 10, Section 12, and Section 14
hereof shall survive and continue in full force in accordance with their terms notwithstanding any termination of the Term or this
Agreement.

 

[SIGNATURES ON NEXT PAGE]

 

    	 	-11-	 

     

    

 

IN WITNESS WHEREOF,
the Company has caused this Agreement to be duly executed, and the Executive has hereunto set his hand, as of the day and year
first above written.

 

	POSTAL REALTY TRUST, INC.	 	EXECUTIVE
	 	 	 	 	 	 	 
	By:	 	           	 	 	 	 
	 	 	 	 	 	 	 
	Its:	 	 	 	Print Name: 	 
	 	 	 	 	 	 	 
	Dated:	 	 	Dated:	 	 

 

    	 	-12-

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