Exhibit 10.1

 

November 2, 2004

 

 

Mr. Scott MacDonald

c/o New Plan Excel Realty Trust, Inc.

1120 Avenue of the Americas

New York, New York 10036

 

Re:          Employment Agreement, dated as of March 1, 2002 (as modified, the
“Agreement”), by and between New Plan Excel Realty Trust, Inc. (the “Company”)
and Scott MacDonald (“Executive”)

 

Dear Scott:

 

In reference to the Employment Agreement, please be advised that the Company
hereby gives you notice that the term of the Agreement will not be extended. 
Accordingly, the Agreement shall terminate and expire on March 1, 2005.

 

 

 

Sincerely,

 

 

 

 

 

New Plan Excel Realty Trust, Inc.

 

 

 

 

 

 

 

 

By:

/s/ Steven F. Siegel

 

 

 

 

 

 

Name: Steven F. Siegel

 

 

Its: Executive Vice President

 

 

 

 

 

 

Receipt Acknowledged this

 

 

2nd day of November, 2004

 

 

 

 

 

 

 

 

/s/ Scott MacDonald

 

 

 

Scott MacDonald

 

 

 

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