Exhibit 10.1

MACK-CALI REALTY CORPORATION

RESTRICTED SHARE AWARD AGREEMENT

[NAME OF DIRECTOR]

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AGREEMENT EVIDENCING THE GRANT
OF A RESTRICTED SHARE AWARD PURSUANT
TO THE AMENDED AND RESTATED 2000 DIRECTOR STOCK OPTION PLAN
OF MACK-CALI REALTY CORPORATION

        AGREEMENT (“Agreement”) effective as of December 7, 2004 (“Grant Date”)
by and between Mack-Cali Realty Corporation (the “Company”) and [Name of
Director] (“Recipient”).

        WHEREAS, pursuant to the Amended and Restated 2000 Director Stock Option
Plan of Mack-Cali Realty Corporation (the “Plan”), the Company hereby awards
shares of the Company’s common stock, par value $.01 per share (“Common Stock”)
to the Recipient subject to such terms, conditions, and restrictions
(hereinafter, “Restricted Share Award”) as set forth in the Plan, and this
Agreement;

        NOW THEREFORE, the parties hereto hereby agree as follows:

        1.    Award of Shares of Restricted Stock.

        Pursuant to the Plan, the Committee hereby awards to the Recipient,
effective as of the Grant Date, a Restricted Share Award representing the
conditional receipt of 1,000 shares of Common Stock (“Restricted Shares”) at no
out-of-pocket cost to the Recipient subject to the terms, conditions and
restrictions set forth herein. Capitalized terms not otherwise defined in this
Agreement shall be as defined in the Plan.

        2.    Award Restrictions.

              (a)       General Rules. Ownership of Restricted Shares shall not
vest in the Recipient, and shall be subject to forfeiture until the conditions
of Section 2(b) or Section 4 are fully satisfied. For purposes of this
Agreement, the following concepts shall be defined as follows: (i) the lapse of
restrictions on the Recipient’s rights with respect to the Restricted Shares
granted hereunder shall be referred to as “Vesting”; (ii) the period between the
Grant Date and the date of Vesting shall be referred to as the “Vesting Period”;
and (iii) the date Vesting occurs shall be referred to as the “Vesting Date.”

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              (b)       Vesting. All of the Restricted Shares granted hereunder
shall Vest and be deemed earned on January 1, 2006. Vesting of the Restricted
Shares granted hereunder is conditioned upon Recipient’s continued service with
the Company as a member of the Board of Directors through and including the
Vesting Date.

              (c)       Lapse of Restrictions. Upon the Vesting of Restricted
Shares, the Recipient shall own the Shares free and clear of all restrictions
imposed by this Agreement and the Recipient shall be free to hold or dispose of
such Shares in his discretion, subject to applicable federal and state law or
regulations.

              (d)       Prohibition Against Assignment. During the Vesting
Period, the Restricted Shares may not be transferred or encumbered by the
Recipient by means of sale, assignment, mortgage, transfer, exchange, pledge, or
otherwise. The levy of any execution, attachment, or similar process upon the
Restricted Shares shall be null and void.

        3.    Stock Certificates.

              (a)       Certificates. Restricted Shares shall be evidenced by a
stock certificate registered in the name of the Recipient or a nominee or
nominees therefor. As soon as practicable following the date hereof, the Company
shall prepare and issue such certificate for the Restricted Shares (the “Share
Certificate”), which shall be registered in the name of the Recipient or a
nominee and which shall bear such restrictive legend or legends (if any) as the
Company may deem necessary or desirable under any applicable law.

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              (b)       Stock Powers. The Recipient shall execute and deliver to
the designee of the Company (the “Designee”) stock powers corresponding to the
Share Certificate designating the Company as the transferee of an unspecified
number of Shares, which stock powers may be completed by the Designee as
specified herein. The Recipient and the Company each waive the requirement that
the signature of the Recipient on the stock powers be guaranteed. Upon receipt
of a copy of this Agreement and the stock powers, each signed by the Recipient,
the Designee shall promptly notify the proper officers of the Company and the
Share Certificate and stock powers shall be held by the Company in accordance
with the terms of this Agreement.

              (c)       Effect of Vesting. Upon Vesting, the Company shall cause
to be delivered to the Recipient (i) a certificate for the Shares which have
vested free and clear of restrictive legends and (ii) any stock powers signed
hereunder by the Recipient remaining in its possession related to the vested
Shares. In the event that the Recipient dies after Shares are vested but before
delivery of the certificate for the vested Shares, such certificate shall be
delivered to, and registered in the name of, the Recipient’s beneficiary or
estate, as the case may be.

              (d)       Rights of Stockholder. Except as otherwise provided in
Section 2 and this Section 3, during the Vesting Period and after the
certificates for the Restricted Shares have been issued, the Recipient shall be
entitled to all rights of a stockholder of the Company, including the right to
vote and the right to receive dividends, with respect to the Restricted Shares
subject to this Agreement. Subject to applicable withholding requirements, if
any, dividends on the Restricted Shares shall be paid to the Recipient when
earned and payable.

              (e)       Power of Designee. The Designee is hereby authorized by
the Recipient to utilize the stock power delivered by the Recipient to transfer
all forfeited Shares to the Company upon receipt of instructions from a duly
authorized representative of the Company.

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        4.    Termination of Service.

              (a)       Termination Due to Disability, Death or Retirement;
Change in Control. If the Recipient’s service as a member of the Board of
Directors terminates due to Disability, death or Retirement, all Restricted
Shares subject to this Agreement and held by, or on behalf of, the Recipient
shall be deemed earned and vested as of the Recipient’s last day of service as a
member of the Board of Directors. In addition, all Restricted Shares subject to
this Agreement and held by the Recipient on the date a Change in Control occurs
shall be deemed earned and vested as of such date.

              (b)       Termination for Any Other Reason. If the Recipient’s
service with as a member of the Board of Directors terminates prior to January
1, 2006 and prior to the occurrence of a Change in Control for reasons other
than Disability, death or Retirement, any Restricted Shares subject to this
Agreement that have not been earned and vested on the last day of the
Recipient’s service as a member of the Board of Directors shall be immediately
forfeited.

        5.    Withholding.

        In connection with the delivery of any stock certificates, or the making
of any payment in accordance with the provisions of this Agreement, to the
extent not otherwise paid by or on behalf of the Recipient, the Company shall
withhold Shares or cash amounts (for fractional Shares) equal to the taxes, if
any, then required by applicable federal, state and local law to be so withheld.

        6.    Adjustments for Capital Changes.

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        In the event of any change in the outstanding shares of Common Stock of
the Company by reason of any stock dividend or split, recapitalization, merger,
consolidation, spin-off, reorganization, combination or exchange of shares, or
other similar corporate change, or other increase or decrease in such shares
effected without receipt or payment of consideration by the Company, a duly
authorized representative of the Company shall adjust the number of Restricted
Shares granted pursuant to the Plan and this Agreement to prevent dilution or
enlargement of the rights granted to the Recipient.

        7.    No Right to Continued Service.

        Nothing in this Agreement shall confer on the Recipient any right to
continue as a member of the Board of Directors.

        8.    Notice.

              Any notice to the Company hereunder shall be in writing addressed
to:

              Mack-Cali Realty Corporation
              11 Commerce Drive
              Cranford, New Jersey 07016
              Attn:  Mitchell E. Hersh
                          President & Chief Executive Officer

              Any notice to the Recipient hereunder shall be in writing
addressed to:

              [Address of Recipient]

              or such other address as the Recipient shall notify the Company in
writing.

        9.    Entire Agreement.

        This Agreement contains the entire understanding of the parties and
shall not be modified or amended except in writing and duly signed by each of
the parties hereto. No waiver by either party of any default under this
Agreement shall be deemed a waiver of any later default hereunder.

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        10.    Construction.

        The various provisions of this Agreement are severable in their
entirety. Any determination of invalidity or unenforceability of any one
provision shall have no effect on the continuing force and effect of the
remaining provisions.

        11.    Governing Law.

        This Agreement shall be governed by the laws of the State of New Jersey
applicable to contracts made, and to be enforced, within the State of New
Jersey.

        12.    Successors.

        This Agreement shall be binding upon and inure to the benefit of the
successors, assigns and heirs of the respective parties.

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        IN WITNESS WHEREOF, the parties hereto have executed this Agreement to
be effective on the date first above written.

Mack-Cali Realty Corporation

By:  
——————————————
Mitchell E. Hersh
President & Chief Executive
Officer

Recipient

——————————————
[Name of Director]

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