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Exhibit 10.29    
  

 
 

INDEMNIFICATION AGREEMENT
  (Directors and Officers)    
  

        THIS INDEMNIFICATION AGREEMENT is made and entered into this 22nd day of October, 2002 by and between
MACK-CALI REALTY CORPORATION, a Maryland corporation (the "Company"), and JOHN CRANDALL, an individual residing at [address], ("Indemnitee"). 

 
 

RECITALS    
  

        WHEREAS, it is essential to the Company to retain and attract as directors and officers the most capable persons
available; and 

        WHEREAS, Indemnitee is the Senior Vice President-Development and is a registered architect; and 

        WHEREAS, both the Company and Indemnitee recognize the increased risk of litigation and other claims being asserted against directors and
officers of companies in today's environment; and 

        WHEREAS, the Company's charter (the "Charter") and bylaws (the "Bylaws") provide that the Company will indemnify its directors and
officers to the fullest extent permitted by law and will advance expenses in connection therewith, and Indemnitee's willingness to serve as a director and/or officer of the Company is based on
Indemnitee's reliance on such provisions; and 

        WHEREAS, in recognition of Indemnitee's need for substantial protection against personal liability in order to enhance Indemnitee's
continued service to the Company in an effective manner, and Indemnitee's reliance on the aforesaid provisions of the Charter and Bylaws, and in part to provide Indemnitee with specific contractual
assurance that the protection promised by such provisions will be
available to Indemnitee (regardless of, among other things, any amendment to or revocation of such provisions or any change in the composition of the Company's Board of Directors or any acquisition or
business combination transaction relating to the Company), the Company wishes to provide in this Agreement for the indemnification of and the advancement of expenses to Indemnitee as set forth in this
Agreement and, to the extent insurance is maintained, for the continued coverage of Indemnitee under the Company's directors' and officers' liability insurance policies. 

        NOW, THEREFORE, in consideration of the foregoing premises, the mutual covenants and agreements contained herein and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 

        1.    Certain Definitions.    

        1.1    "Claim" shall mean any threatened, pending or completed
action, suit or proceeding, whether civil, criminal, administrative, investigative or other, or any inquiry or investigation, whether instituted, made or conducted by the Company or any other party,
that Indemnitee in good faith believes might lead to the institution of any such action, suit or proceeding, whether civil, criminal, administrative, investigative or other. 

        1.2    "Expenses" shall mean and include all court costs,
attorneys' fees, disbursements and all other costs, expenses and obligations paid or incurred in connection with investigating, defending, being a witness in or participating in (including on appeal),
or preparing to defend, be a witness in or participate in, any Claim relating to any Indemnifiable Event. 

        1.3    "Indemnifiable Event" shall mean any actual or asserted
event or occurrence related to the fact that Indemnitee is or was a director, officer, employee, agent or fiduciary of the Company, or is or was serving at the request of the Company as a director,
officer, partner, employee, trustee, agent or fiduciary of another corporation, partnership, joint venture, employee benefit plan, trust or other entity, or anything done or not done by Indemnitee in
any such capacity. Without limiting the generality of the foregoing, the definition of Indemnifiable Event shall include the acts of Indemnitee in his capacity 

 

as an officer of the Company, at any time before, on or after the date of this Agreement: (i) in designing and engineering tenant improvements or other improvements to be constructed at or in
buildings or other properties owned by the Company or any of its affiliates; (ii) in preparing, or supervising the preparation by other employees of the Company, of drawings and specifications
for such tenant improvements or other improvements; (iii) in signing and affixing his seal as a registered
architect to any such drawings and specifications; or (iv) in acting as architect for the construction of such tenant improvements or other improvements. 

        2.    Basic Indemnification Arrangement.    In the event Indemnitee
was, is or becomes a party to or witness or other participant in, or is threatened to be made a party to or witness or other participant in, a Claim by reason of (or arising or related in whole or in
part out of) an Indemnifiable Event: (a) the Company will indemnify and hold harmless Indemnitee to the fullest extent permitted by law, as soon as practicable, but in any event no later than
fifteen (15) calendar days after written demand is presented to the Company, from and against any and all Expenses, judgments, fines, penalties and amounts paid in settlement (including all
interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, fines, penalties or amounts paid in settlement) of, or suffered or incurred by
Indemnitee in connection with, such Claim; and (b) the Company will pay or reimburse Indemnitee for any and all Expenses incurred by Indemnitee in connection with a Claim prior to final
disposition of the Claim, to the fullest extent permitted by law but without requiring any preliminary determination of the ultimate entitlement of Indemnitee to indemnification, as soon as
practicable, but in any event within two (2) business days, after request by Indemnitee. Notwithstanding anything in this Section 2 or Section 5 of this Agreement to the contrary,
Indemnitee will not be entitled to indemnification pursuant to this Agreement in connection with any Claim initiated by Indemnitee against the Company or any director or officer of the Company except
as provided in Section 4 of this Agreement or unless the Company has joined in or consented to the initiation of such Claim. 

        3.    Establishment of Trust.    The Company will create a trust (the
"Trust") for the benefit of Indemnitee and from time to time upon written request by Indemnitee will, if so authorized by the Company's Board of Directors, fund the Trust in an amount sufficient to
satisfy any and all Expenses reasonably anticipated at the time of each such request, and any and all judgments, fines, penalties and settlement amounts of any and all Claims relating to an
Indemnifiable Event from time to time actually paid or reasonably anticipated or proposed to be paid. The terms of the Trust will provide that (i) the Trust will not be revoked, or the
principal thereof invaded, without the written consent of Indemnitee, (ii) the trustee thereunder (the "Trustee") will advance, within two (2) business days of a request by Indemnitee,
any and all Expenses to Indemnitee, (iii) the Trust will continue to be funded by the Company in accordance with and to the extent of the funding obligation set forth above, (iv) the
Trustee will promptly pay to Indemnitee all amounts to which Indemnitee is entitled in respect of the Company's indemnification obligations under this Agreement or otherwise, and (v) all
unexpended funds in the Trust will revert to the Company upon a final determination by a court of competent jurisdiction that Indemnitee has been fully indemnified under the terms of this Agreement.
The Trustee will be an independent third party, and will be chosen by Indemnitee. Nothing in this Section 3 will relieve the Company of any of it obligations under this Agreement. 

        4.    Indemnification for Additional Expenses.    The Company will
indemnify Indemnitee against and, if requested by Indemnitee, will, within two (2) business days of such request, advance to Indemnitee, any and all attorneys' fees and other costs, expenses
and obligations paid or incurred by Indemnitee in connection with any claim, action, suit or proceeding asserted or brought by Indemnitee for (i) indemnification or payment or reimbursement of
Expenses prior to final disposition of the Claim by the Company under this Agreement or any other agreement or under any provisions of the Charter or Bylaws now or hereafter in effect relating to
Claims for Indemnifiable Events and/or (ii) recovery under any directors' and officers' liability insurance policies maintained by the Company, regardless of 

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whether Indemnitee ultimately is determined to be entitled to such indemnification, advance expense payment or insurance recovery, as the case may be. 

        5.    Partial Indemnity, Etc.    If Indemnitee is entitled under any
provision of this Agreement to indemnification by the Company for some or a portion of the Expenses, judgments, fines, penalties and amounts paid in settlement of a Claim but not, however, for all of
the total amount thereof, the Company will nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled. In addition, notwithstanding any other provision of this
Agreement, to the extent that Indemnitee has been successful on the merits or otherwise in defense of any or all Claims relating in whole or in part to an Indemnifiable Event or in defense of any
issue or matter therein, including dismissal without prejudice, Indemnitee will be indemnified against all Expenses incurred in connection therewith. In connection with any determination as to whether
Indemnitee is entitled to be indemnified hereunder, the burden of proof will be on the Company to establish that Indemnitee is not so entitled. The Company agrees to make any such determination, or to
cause such determination to be made, as expeditiously as practicable. 

        6.    No Presumption.    For purposes of this Agreement, the
termination of any Claim, action, suit or proceeding by judgment, order, settlement (whether with or without court approval) or conviction, or upon a plea of nolo contendere or its equivalent, will
not create a presumption that Indemnitee did not meet any particular standard of conduct or have any particular belief or that a court has determined that indemnification is not permitted by
applicable law. 

        7.    Non-Exclusivity, Etc.    The rights of Indemnitee
hereunder will be in addition to any other rights Indemnitee may have under the Charter, the Bylaws or the Maryland General Corporation Law (the "MGCL") or otherwise;  provided, however, that to the
extent that Indemnitee otherwise would have any greater right to indemnification under any provision of the Charter or
Bylaws as in effect on the date hereof, Indemnitee will be deemed to have such greater right hereunder, and provided, further, that to the extent that any change is made to the MGCL (whether by
legislative action or judicial decision), the Charter and/or the Bylaws which permits any greater right to indemnification than that provided under this Agreement as of the date hereof, Indemnitee
will be deemed to have such greater right hereunder. The Company will not adopt any amendment to the Charter or the Bylaws the effect of which would be to deny, diminish or encumber Indenmitee's right
to indemnification under the Charter, the Bylaws, the MGCL or otherwise as applied to any act or failure to act occurring in whole or in part prior to the date upon which the amendment was approved by
the Company's Board of Directors and/or its stockholders, as the case may be. 

        8.    Liability Insurance.    The Company shall maintain an insurance
policy or policies providing directors' and officers' liability insurance in an amount not less than $1,000,000 and on customary terms. Indemnitee will be covered by such policy or policies, in
accordance with its or their terms, to the maximum extent of the coverage available for any Company director or officer. The Company may, but shall not be obligated to, maintain an insurance policy or
policies providing architects' and engineers' professional liability coverage for the Company and its employees. If any such policy or policies are maintained, Indemnitee will be covered by such
policy or policies, in accordance with and subject to its
or their terms, to the maximum extent of the coverage available for any officer or employee of the Company performing architectural or engineering services for or on behalf of the Company. 

        9.    Period of Limitations.    No legal action will be brought and no
cause of action will be asserted by or on behalf of the Company or any affiliate of the Company against Indemnitee or Indemnitee's spouse, personal or legal representatives, executors, administrators,
successors, heirs, distributees or legatees after the expiration of three (3) years from the date of accrual of such cause of action, and any claim or cause of action of the Company or its
affiliates will be extinguished and deemed released unless asserted by the timely filing of a legal action within such three (3) year period; provided,  

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 however, that if any shorter period of limitation is otherwise applicable to any such cause of action, such shorter period will govern. 

        10.    Subrogation.    In the event of payment under this Agreement,
the Company will be subrogated to the extent of such payment to all of the related rights of recovery of Indemnitee against other persons or entities. Indemnitee will execute all papers reasonably
required and will do every tiling that may be reasonably necessary to secure such rights and enable the Company effectively to bring suit to enforce such rights (all of Indemnitee's reasonable costs
and expenses, including attorneys' fees and disbursements, to be reimbursed by or, at the option of Indemnitee, advanced by the Company). 

        11.    No Duplication of Payments.    The Company will not be liable
under this Agreement to make any payment in connection with any Claim made against Indemnitee to the extent Indemnitee has otherwise actually received payment (under any directors' and officers'
liability insurance policy, any professional liability insurance policy, the Charter, the Bylaws or otherwise) of the amounts otherwise Indemnifiable hereunder. 

        12.    Successors and Binding Agreement.    (a) The Company
will require any successor (whether direct or indirect, by purchase, merger, consolidation, reorganization or otherwise) to all or substantially all of the business or assets of the Company, by
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 the Company would be required to perform
if no such succession had taken place. This Agreement will be binding upon and inure to the benefit of the Company and any successor to the Company, including, without limitation, any person acquiring
directly or indirectly all or substantially all of the business or assets of the Company whether by purchase, merger, consolidation, reorganization or otherwise (and such successor will thereafter be
deemed the "Company" for the purposes of this Agreement), but will not otherwise be assignable, transferable or delegable by the Company. 

        (b)  This
Agreement will inure to the benefit of and be enforceable by Indemnitee's personal or legal representatives, executors, administrators, successors, heirs,
distributees and legatees. 

        (c)  This
Agreement is personal in nature and neither of the parties hereto will, without the consent of the other, assign, transfer or delegate this Agreement or any rights
or obligations hereunder except as expressly provided in Sections 12(a) and 12(b) hereof. Without limiting the generality or effect of the foregoing, Indemnitee's right to receive payments
hereunder will not be assignable, transferable or delegable, whether by pledge, creation of a security interest or otherwise, other than by a transfer by Indemnitee's will or by the laws of descent
and distribution, and any such attempted assignment shall be null and void and of no effect. 

        13.    Notices.    For all purposes of this Agreement, all
communications, including, without limitation, notices, consents, requests or approvals, required or permitted to be given hereunder will be in writing and will be deemed to have been duly given when
hand delivered or dispatched by electronic facsimile transmission (with receipt thereof orally confirmed), or five (5) calendar days after having been mailed by United States registered or
certified mail, return receipt requested, postage prepaid, or one (1) business day after having been sent for next-day delivery by a nationally recognized overnight courier service,
addressed to the Company (to the attention of the Secretary of the Company) at its principal executive office and to Indemnitee at Indemnitee's principal residence as shown in the Company's most
current records, or to such other address as any party may have furnished to the other in writing and in accordance herewith, except that notices of changes of address will be effective only upon
receipt. 

        14.    Governing Law.    The validity, interpretation, construction
and performance of this Agreement will be governed by and construed in accordance with the laws of the State of Maryland, without giving effect to the principles of conflict of laws. 

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        15.    Validity.    If any provision of this Agreement or the
application of any provision hereof to any person or circumstance is held invalid, unenforceable or otherwise illegal, the remainder of this Agreement and the application of such provision to any
other person or circumstance will not be affected, and the provision so held to be invalid, unenforceable or otherwise illegal will be reformed to the extent (and only to the extent) necessary to make
it enforceable, valid or legal. 

        16.    Miscellaneous.    No provision of this Agreement may be waived,
modified or discharged unless such waiver, modification or discharge is agreed to in writing by Indemnitee and the Company. No waiver by either party hereto at any time of any breach by the other
party hereto or compliance with any condition or provision of this Agreement to be performed by such other party will be deemed a waiver of similar or dissimilar provisions or conditions at the same
or at any prior or subsequent time. No agreements or representations, oral or otherwise, expressed or implied with respect to the subject matter hereof have been made by either party which are not set
forth expressly in this Agreement. References to Sections are references to Sections of this Agreement. 

        17.    Counterparts.    This Agreement may be executed in one
(1) or more counterparts, each of which will be deemed to be an original but both of which together will constitute one and the same agreement. 

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        IN WITNESS WHEREOF, the parties to this Agreement have executed this Agreement, under seal, as of the date first above written. 

	 	 	THE COMPANY:	 
	

 	
 	
MACK-CALI REALTY CORPORATION	

 
	

	
 	

 	

 	

 	

 
	 	 	By:	/s/  MITCHELL E. HERSH      	(SEAL)
	 	 	 	
	 
	 	 	 	Name:  Mitchell E. Hersh

Title:    Chief Executive Officer	 
	

	
 	

 	

 	

 	

 
	 	 	THE INDEMNITEE:	 
	

	
 	

 	

 	

 	

 
	 	 	/s/  JOHN CRANDALL      	(SEAL)
	 	 	
	 
	 	 	Name: John Crandall	 

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Exhibit 10.29

INDEMNIFICATION AGREEMENT (Directors and Officers)

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EXHIBIT 10.13  

 
 

FIRST AMENDMENT TO THE
  CAREER EDUCATION CORPORATION
  1998 NON-EMPLOYEE DIRECTORS' STOCK OPTION PLAN    
  

        WHEREAS, Career Education Corporation (the "Corporation") has established and maintains the Career Education
Corporation 1998 Non-Employee Directors' Compensation Plan (the "Plan"), effective as of January 28, 1998; and 

        WHEREAS, the Corporation desires to amend the Plan to increase the "formula" to provide that each Participant (unless otherwise defined in
this Amendment, defined terms used herein shall have the meaning ascribed to them in the Plan) who continues as a Director, in any year following the year of the initial grant of an Option to such
Participant, shall be granted an option to purchase 24,000 shares of Common Stock on the date of each annual meeting of the Corporation's stockholders; 

        NOW, THEREFORE, BE IT RESOLVED that, pursuant to the power and authority reserved to the Corporation by Section 6.1 of the Plan,
and pursuant to the authority delegated to the Committee, the Plan be and hereby is amended, effective May 17, 2002, in the following manner: 

        Section 5.2
is hereby deleted in its entirety and replaced with the following: 

	"5.2
	Grant and Exercise. Each person who is a Director on the Effective Date shall become a Participant and shall be granted an Option to
purchase Eight Thousand (8,000) shares of Common Stock without further action by the Board or the Committee. Each person who is subsequently elected or appointed as a Director shall become a
Participant and shall, on his date of election or appointment, without further action by the Board or the Committee, be granted an Option to purchase Eight Thousand (8,000) shares of Common Stock.
Thereafter, on the date of each annual meeting of stockholders of the Company after which a Participant continues as a Director, in any year following the year of the initial grant of an Option to
such Participant, such Participant shall be granted an Option to purchase Twenty-Four Thousand (24,000) shares of Common Stock. If the number of shares of Common Stock available to grant
under the Plan on a scheduled date of grant is insufficient to make all automatic grants required to be made pursuant to the Plan on such date, then each eligible Director shall receive an Option to
purchase a pro rata number of the remaining shares of Common Stock available under the Plan; provided further, however, that if such proration results in fractional shares of Common
Stock, then such Option shall be rounded down to the nearest number of whole shares of Common Stock. If there is no whole number of shares remaining to be granted, then no grants shall be made under
the Plan. Each Option granted under the Plan shall be evidenced by an Agreement, in a form approved by the Committee, which shall embody the terms and conditions of such Option and which shall be
subject to the express terms and conditions set forth in the Plan. Such Agreement shall become effective upon execution by the Participant." 

        Except
as provided herein, the Plan shall remain in full force and effect. 

        IN WITNESS WHEREOF, the Corporation has caused this amendment to be executed effective as of the 17th day of May, 2002. 

	 	 	CAREER EDUCATION CORPORATION
	 	 	 	 	 
	 	 	 	 	 
	 	 	By:	 	/s/  JOHN M. LARSON      
 John M. Larson

President and Chief Executive Officer

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FIRST AMENDMENT TO THE CAREER EDUCATION CORPORATION 1998 NON-EMPLOYEE DIRECTORS' STOCK OPTION PLAN

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