Document:

Exhibit 10.4

 

VERIS RESIDENTIAL, INC.

RESTRICTED STOCK UNIT AGREEMENT

 

THIS RESTRICTED STOCK UNIT AGREEMENT (this “Agreement”)
dated as of April [l], 2022 (the “Effective Date”) is made by and between Veris Residential Inc. (together with
its Subsidiaries and any successors thereto, the “Company”) and Amanda Lombard (the “Participant”)
who is a signatory hereto.

 

This Award (as defined below) is being made and
granted as a standalone award, separate and apart from, and outside of, the Plan and all other shareholder-approved equity compensation
plans of the Company. Notwithstanding the foregoing, the terms, conditions, and definitions set forth in the Plan shall apply to this
Agreement and the Award as if the Award had been granted under the Plan, and this Agreement shall be subject to such terms, conditions,
and definitions, which are hereby incorporated into this Agreement by reference (and any such references to the Plan in this Agreement
shall solely be interpreted to be references to the substance of the Plan so incorporated, but shall not in any way imply or indicate
that this Award was granted under the Plan). For the avoidance of doubt, the Award shall not be counted for purposes of calculating the
aggregate number of Shares that may be issued under the Plan or for purposes of any limitations on awards under the Plan. In the event
of any inconsistency between the Plan and this Agreement, the terms of this Agreement shall control.

 

This Award is intended to be granted as a one-time
employment “inducement award” under Section 303A.08 of the New York Stock Exchange (“NYSE”) Listed
Company Manual, and consequently is intended to be exempt from the NYSE rules regarding shareholder approval of equity compensation.
This Agreement and the terms and conditions of this Award shall be interpreted in accordance and consistent with such exemption.

 

1.            Definitions.
For purposes of this Agreement, the following terms shall have the following meanings:

 

(a)          “Affiliate”
means, with respect to the Company, any company or other trade or business that controls, is controlled by or is under common control
with the Company within the meaning of Rule 405 of Regulation C under the Securities Act, including, without limitation, any Subsidiary.

 

(b)          “Board”
means the Board of Directors of Veris Residential, Inc..

 

(c)          “Cause”
for termination of the Participant’s employment for purposes of this Agreement has the meaning set forth in the Participant’s
Employment Agreement.

 

(d)          “Change
in Control” has the same meaning set forth in the Participant’s Employment Agreement. A Change in Control under this Agreement
shall be considered a “Change in Control” for purposes of the Plan in accordance with Section 1.2(h) of the 2013
Plan.

 

(e)          “Change
in Control Period” has the same meaning set forth in the Participant’s Employment Agreement.

 

     

     

    

 

(f)            “Common
Stock” means the common stock, par value $0.01 per share, of the Company (and any stock or other securities into which such
Common Stock may be converted or into which it may be exchanged).

 

(g)          “Continuous
Service” means the continuous service, without interruption or termination, as an employee, director, trustee, manager or member
of, or with the approval of the Committee or the Board, consultant or advisor to the Company or an Affiliate. Continuous Service shall
not be considered interrupted in the case of: (A) any approved leave of absence; (B) transfers among the Company and any
Affiliate, or any successor, in any capacity of trustee, director, employee, manager, member, or with the approval of the Committee or
the Board, consultant or advisor; or (C) any change in status as long as the individual remains in the service of the Company
or any Affiliate of the Company in any capacity of employee, director, trustee, manager, member or similar function of, or (if the Committee
or the Board specifically agrees that the Continuous Service is not uninterrupted) a consultant or advisor. An approved leave of absence
shall include sick leave, military leave, or any other authorized personal leave. Subject to the preceding sentence, whether a termination
of Continuous Service shall have occurred for purposes of this Agreement shall be determined by the Committee or the Board, which determination
shall be final, binding and conclusive.

 

(h)          “Disability”
has the meaning set forth in the Participant’s Employment Agreement.

 

(i)            “Employment
Agreement” means, as of a particular date, the executive employment agreement then in effect between the Participant, on the
one hand, and the Company or one of its Subsidiaries, on the other hand, as amended or supplemented through such date.

 

(j)            “Good
Reason” for termination of the Participant’s employment for purposes of this Agreement has the meaning set forth in the
Participant’s Employment Agreement.

 

(k)            “Plan”
means the Mack-Cali Realty Corporation Amended and Restated 2013 Incentive Stock Plan, as amended from time to time.

 

(l)            “Qualifying
Termination” means a termination of the Participant’s employment (i) by the Company without Cause or while the Participant
has a Disability, (ii) by the Participant for Good Reason, or (iii) resulting from the Participant’s death.

 

(m)         “RSU”
or “Restricted Stock Unit” means a restricted stock unit of the Company’s Common Stock, either individually or in
the aggregate, as the context may require.

 

(n)          “RSU
Dividend Equivalent Amount” means a dividend equivalent right associated with a RSU with respect to any cash dividends on Common
Stock that have a record date after the Effective Date and prior to the applicable Settlement Date for such RSU.

 

(o)          “Subsidiary”
has the meaning set forth in the Plan.

 

(p)          “Termination
Date” means the effective date of a Termination of Employment for any reason.

 

    2

     

    

 

(q)            “Termination
of Employment” means a “separation from service” of the Participant from the Company, as defined under Section 409A.

 

2.            Grant
of Awards. The Company hereby grants to the Participant [•] Restricted Stock Units (“RSUs”), which shall be subject
to the vesting conditions set forth in Section 3 and the terms and conditions herein set forth (the “Award”).

 

3.            Vesting.
Subject to Section 5, one-third of the RSUs shall vest on each of the first, second, and third year anniversaries of the Effective
Date, subject to the Participant’s Continuous Service with the Company through the applicable date(s) (each, a “Vesting
Date” and such RSU that vests a “Vested RSU”).

 

4.            Issuance
of Common Stock.

 

(a)          Settlement
of Vested RSUs. Shares of Common Stock underlying a Vested RSU shall be transferred to the Participant as soon as administratively
practicable following the applicable Vesting Date, but in no event later than the 15th day of the calendar month following the calendar
month in which such Vesting Date occurs. No shares of Common Stock shall be issued to the Participant in respect of an RSU prior to the
applicable Vesting Date. After an RSU becomes a Vested RSU, the Company shall promptly cause to be registered in the Participant’s
name or in the name of the executor or personal representative of the Participant’s estate, as the case may be, one share of Common
Stock in payment for each such Vested RSU. For purposes of this Agreement, the date on which Vested RSUs are converted into shares of
Common Stock shall be referred to as the “Settlement Date.”

 

(b)           Fractional
RSUs. In the event the Participant is vested in a fractional portion of an RSU, such portion shall be rounded down to the nearest
whole number.

 

5.            Effects
of Certain Events.

 

(a)          Termination
Because of Death/Disability. If the Participant experiences a Termination by reason of the Participant’s death or Disability,
then the RSU shall vest with respect to a prorated number of RSUs as would otherwise be scheduled to vest on the next regularly scheduled
vesting date described in Section 2(b)(i), with such proration based on the quotient obtained by dividing (x) the number of
days elapsed between the previous vesting date described in Section 2(b)(i) (if none, the Grant Date) and the date of Termination
by (y) the total number of days between the previous vesting date described in Section 2(b)(i) (if none, the Grant Date)
and such next regularly scheduled vesting date. Any portion of the RSU that remains unvested after application of the preceding sentence
shall immediately terminate and be forfeited without consideration.

 

(b)          Termination
without Cause; Resignation for Good Reason. If the Participant experiences a Termination by reason of (x) a termination
of employment by the Company and its Subsidiaries without Cause (other than by reason of death or Disability), or (y) Participant’s
resignation for Good Reason (in each case, whether during or following the Term of the Employment Agreement), any then-unvested portion
of the RSU shall vest.

 

    3

     

    

 

(c)          Other
Terminations. If the Participant experiences a Termination for any reason other than as set forth in Sections 5(a)-(b) above,
any then-unvested RSUs shall immediately terminate and be forfeited for no consideration.

 

(d)          Release
Requirement. Notwithstanding anything to the contrary in this Section 5, any additional vesting upon Termination provided in
Sections 5(a)-(b) shall be conditioned on the Participant, or the representative of Participant’s estate, executing the Release
(as defined in the Employment Agreement), and the period provided in such Release having expired without the Participant exercising the
Participant’s right to revoke, not later than sixty (60) days after the Termination Date, and if the Participant fails to execute
such Release, revokes the Release, or the revocation period has not yet expired by the end of such sixty (60) day period, the Participant
shall have no right to any such payment or benefit.

 

(e)          Change
in Control. Notwithstanding the foregoing:

 

(i)            In
the event of a Qualifying Termination of the Participant’s Continuous Service during a Change in Control Period prior to the vesting
of the RSUs, all unvested RSUs shall automatically and immediately vest as of the Termination Date. In such case, such number of RSUs
shall be deemed vested in full and settled pursuant to Section 4(a), with the “Vesting Date” meaning the date
of Termination.

 

(ii)            If
after a Change in Control the Company or its successor does not assume, convert, or replace any RSUs as calculated in Section 2
or Section 5, as applicable, with a security with substantially the same rights, privileges, preferences of the RSUs, then
in each case the applicable RSUs described in Section 5, as applicable, shall immediately vest.

 

6.            Dividend
Equivalent Rights.

 

(a)            Each
RSU shall have a RSU Dividend Equivalent Amount that shall be paid concurrently with the corresponding Common Stock cash dividend, without
regard to whether the RSU is a Vested RSU.

 

(b)            The
payment of the Dividend Equivalent Amounts, if any, will be net of all applicable withholding taxes pursuant to Section 7(g).

 

7.            Miscellaneous.

 

(a)          Administration.
The Committee shall administer the Award.

 

(b)          Agreement
Subject to Plan; Amendment. By entering into this Agreement, the Participant agrees and acknowledges that the Participant has
received and read a copy of the Plan. The Award and RSUs granted hereunder are subject to the Plan. The terms and provisions of the Plan
are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision
of the Plan, the applicable terms and provisions of the Plan will govern and prevail. The terms of the Agreement may be amended from time
to time by the Committee in its sole discretion in any manner that it deems appropriate; provided, that any such amendment
that would materially and adversely affect any right of the Participant shall not to that extent be effective without the consent of the
Participant.

 

    4

     

    

 

(c)          Participant
is Unsecured General Creditor. The Participant and the Participant’s heirs, successors, and assigns shall have no legal or
equitable rights, interest, or claims in any specific property or assets of the Company. Assets of the Company shall not be held
under any trust for the benefit of the Participant or the Participant’s heirs, successors, or assigns, or held in any way as
collateral security for the fulfilling of the obligations of the Company under the Agreement or the Plan. Any and all of the
Company’s assets shall be, and remain, the general unrestricted assets of the Company. The Company’s sole obligation
under this Agreement and in respect of the Award or the RSUs shall be merely that of an unfunded and unsecured promise of the
Company to pay the Participant in the future, subject to the conditions and provisions of the Agreement and the Plan.

 

(d)          No
Transferability; No Assignment. Neither the Participant nor any other person shall have any right to commute, sell, assign, transfer,
pledge, anticipate, mortgage, or otherwise encumber, transfer, hypothecate, alienate, or convey in advance of actual receipt, the Award
or the RSUs. No part of the RSUs or the shares of Common Stock delivered in respect of any vested RSUs, and/or amounts payable under this
Agreement shall, prior to actual settlement or payment, be subject to seizure, attachment, garnishment, or sequestration for the payment
of any debts, judgments, alimony, or separate maintenance owed by the Participant or any other person, be transferable by operation of
law in the event of the Participant’s or any other person’s bankruptcy or insolvency, or be transferable to a spouse as a
result of a property settlement or otherwise.

 

(e)          No
Right to Continued Employment. Neither the Plan nor this Agreement nor the Participant’s receipt of the Award hereunder (or
shares of Common Stock issued in settlement of the Award) shall impose any obligation on the Company or any Affiliate to continue the
Employment of the Participant. Further, the Company or any Affiliate (as applicable) may at any time terminate the Employment of such
Participant, free from any liability or claim under the Plan or this Agreement, except as otherwise expressly provided herein or in any
written employment agreement between the Participant and the Company (or any Affiliate).

 

(f)            Limitation
on Stockholder Rights. The Participant shall have no rights as a stockholder of the Company, no dividend rights (subject to Dividend
Equivalent Rights as set forth in Section 6), and no voting rights with respect to the RSUs and any shares of Common Stock
underlying or issuable in respect of such RSUs until such shares of Common Stock are actually issued to and held of record by the Participant.
No adjustments will be made for dividends or other rights of a holder for which the record date is prior to the date of issuance of the
shares of Common Stock, except for the Dividend Equivalent Rights as set forth in Section 6.

 

(g)          Tax
Withholding.

 

(i)            Regardless
of any action the Company takes with respect to any or all federal, state, or local income tax, employment tax or other tax-related items
(“Tax Related Items”), the Participant acknowledges that the ultimate liability for all Tax Related Items associated
with the RSUs (and the Dividend Equivalent Rights associated therewith) is and remains the Participant’s responsibility and that
the Company: (A) makes no representations or undertakings regarding the treatment of any Tax Related Items in connection with any
aspect of the RSUs, including, but not limited to, the grant or vesting of the RSUs, the delivery of the shares of Common Stock, the subsequent
sale of shares of Common Stock acquired at vesting, and the receipt of any Dividend Equivalent Rights; and (B) does not commit
to structure the terms of the Award or any aspect of the RSUs to reduce or eliminate the Participant’s liability for Tax Related
Items. Further, if Participant has relocated to a different jurisdiction between the date of grant and the date of any taxable event,
the Participant acknowledges that the Company may be required to withhold or account for Tax Related Items in more than one jurisdiction.

 

    5

     

    

 

(ii)            Prior
to the relevant taxable event, the Participant shall pay or make adequate arrangements satisfactory to the Company, in its sole
discretion, to satisfy all withholding and payment on account obligations for Tax Related Items of the Company. In this regard, the
Participant authorizes the Company, in its sole discretion, to satisfy the obligations with regard to all Tax Related Items legally
payable by the Participant with respect to the RSUs by withholding in shares of Common Stock otherwise issuable to the Participant,
provided that the Company withholds only the amount of shares of Common Stock necessary to satisfy the maximum statutory withholding
amount using the Fair Market Value of the shares of Common Stock on the Settlement Date. Participant shall pay to the Company any
amount of Tax Related Items that the Company may be required to withhold as a result of the RSUs that are not satisfied by the
previously described method. The Company may refuse to deliver the shares of Common Stock to the Participant if the Participant
fails to comply with Participant’s obligations in connection with the Tax Related Items as described in this Section.

 

(h)          Clawback
Policy. The compensation under this Agreement shall be subject to being recovered under the Company’s Clawback Policy, or any
similar policy that the Company may adopt from time to time. For avoidance of doubt, compensation recovery rights to shares of Common
Stock issued under this Agreement shall extend to any proceeds realized by the Participant upon the sale or other transfer of such shares
of Common Stock.

 

(i)            Section 409A
Compliance. The Award, the RSUs, and the shares of Common Stock and amounts payable under this Agreement are intended either to be
exempt from, or to comply with, the requirements of Section 409A, so as to prevent the inclusion in gross income of any benefits
accrued hereunder in a taxable year prior to the taxable year or years in which such amount would otherwise be actually distributed or
made available to the Participants. The Agreement shall be administered and interpreted to the extent possible in a manner consistent
with that intent. Notwithstanding anything to the contrary in this Agreement, if the Participant is a “specified employee”
within the meaning of Section 409A, no payments in respect of any Award or RSU that is “deferred compensation” subject
to Section 409A and which would otherwise be payable upon the Participant’s “separation from service” (as defined
in Section 409A) shall be made to the Participant prior to the date that is six months after the date of the Participant’s
“separation from service” or, if earlier, the Participant’s date of death. Following any applicable six-month delay,
all such delayed payments will be paid in a single lump sum on the earliest date permitted under Section 409A that is also a business
day. The Participant is solely responsible and liable for the satisfaction of all taxes and penalties under Section 409A that may
be imposed on or in respect of the Participant in connection with this Agreement, and the Company shall not be liable to the Participant
or any other person for any payment made under this Plan that is determined to result in an additional tax, penalty, or interest under
Section 409A, nor for reporting in good faith any payment made under this Agreement as an amount includible in gross income under
Section 409A.

 

    6

     

    

 

(j)            Section 280G
of the Code. In the event that the accelerated vesting of the RSUs or the amounts payable under this Agreement, together with all
other payments and the value of any benefit received or to be received by the Participant, would result in all or a portion of such payment
being subject to excise tax under Section 4999 of the Code (the “Excise Tax”), then the Participant’s payment
shall be either (a) the full payment or (b) such lesser amount that would result in no portion of the payment being subject
to the Excise Tax, whichever of the foregoing amounts, taking into account the applicable federal, state, and local employment taxes,
income taxes, and the Excise Tax, results in the receipt by the Participant, on an after-tax basis, of the greatest amount of the payment
notwithstanding that all or some portion of the payment may be taxable under Section 4999 of the Code. Any such reduction shall be
made by the Company in compliance with all applicable legal authority, including Section 409A. All determinations required to be
made under this Section shall be made by the nationally recognized accounting firm which is the Company’s outside auditor immediately
prior to the event triggering the payments that are subject to the Excise Tax, which firm must be reasonably acceptable to the Participant
(the “Accounting Firm”). The Company shall cause the Accounting Firm to provide detailed supporting calculations of
its determinations to the Company and the Participant. All fees and expenses of the Accounting Firm shall be borne solely by the Company.
The Accounting Firm’s determinations must be made with substantial authority (within the meaning of Section 6662 of the Code).

 

(k)            Governing
Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of Maryland applicable
to contracts made and performed wholly within the State of Maryland, without giving effect to the conflict of law provisions
thereof. Any suit, action, or proceeding with respect to this Agreement (or any provision incorporated by reference), or any
judgment entered by any court in respect of any thereof, shall be brought in any court of competent jurisdiction in the State of New
Jersey or the State of Maryland, and each of the Participant and the Company hereby submits to the exclusive jurisdiction of such
courts for the purpose of any such suit, action, proceeding, or judgment. EACH OF THE PARTICIPANT AND THE COMPANY HEREBY
IRREVOCABLY WAIVES (I) ANY OBJECTIONS WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUIT, ACTION,
OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT BROUGHT IN ANY COURT OF COMPETENT JURISDICTION IN THE STATE OF NEW JERSEY
OR THE STATE OF MARYLAND, (II) ANY CLAIM THAT ANY SUCH SUIT, ACTION, OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT
IN ANY INCONVENIENT FORUM, AND (III) ANY RIGHT TO A JURY TRIAL.

 

(l)            Signature
in Counterparts. This Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument.

 

    7

     

    

 

IN WITNESS WHEREOF, this Agreement has been duly
executed and delivered as of the date first above written.

 

	VERIS RESIDENTIAL, INC. 	 	PARTICIPANT
	 	 	 
	By: 		 	
	Name: Anna Malhari	 	Name: Amanda Lombard
	Title: Chief Operating Officer	 	 

 

    8Exhibit 10.5

 

VERIS RESIDENTIAL, INC.

STOCK OPTION AGREEMENT

 

 

 

This Stock Option Agreement
(this “Agreement”) between Veris Residential, Inc. (the “Company”) and Jeffrey Turkanis (the
“Optionee”) shall be effective as of April [l], 2022 (the “Grant
Date”).

 

This Option (as defined below)
is being made and granted as a standalone award, separate and apart from, and outside of, the Mack-Cali Realty Corporation Amended and
Restated 2013 Incentive Stock Plan (as amended from time to time, the “Plan”) and all other shareholder-approved equity
compensation plans of the Company. Notwithstanding the foregoing, the terms, conditions, and definitions set forth in the Plan shall
apply to this Agreement and the Option as if the Option had been granted under the Plan, and this Agreement shall be subject to such
terms, conditions, and definitions, which are hereby incorporated into this Agreement by reference (and any such references to the Plan
in this Agreement shall solely be interpreted to be references to the substance of the Plan so incorporated, but shall not in any way
imply or indicate that this Option was granted under the Plan). For the avoidance of doubt, the Option shall not be counted for purposes
of calculating the aggregate number of Shares that may be issued under the Plan or for purposes of any limitations on awards under the
Plan. In the event of any inconsistency between the Plan and this Agreement, the terms of this Agreement shall control.

 

This Option is intended to
be granted as a one-time employment “inducement award” under Section 303A.08 of the New York Stock Exchange (“NYSE”)
Listed Company Manual, and consequently is intended to be exempt from the NYSE rules regarding shareholder approval of equity compensation.
This Agreement and the terms and conditions of this Option shall be interpreted in accordance and consistent with such exemption.

 

WITNESSETH:

 

1.            Grant
of this Option: The Company hereby grants to the Optionee, subject to the terms and conditions herein set forth, an option (this
“Option”) to purchase from the Company all or any part of 250,000 Shares at a purchase price per Share equal to $[•],
subject to adjustment as provided herein and in the Plan. The Shares subject to this Option are collectively referred to as the “Option
Shares.”

 

2.            Terms
and Conditions: It is understood and agreed that this Option evidenced hereby is not intended to qualify as an “incentive stock
option” under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). This Option may
be exercised from time to time subject to the following:

 

(a)            Expiration
Date: This Option shall expire on the sixth (6th) anniversary of the Grant Date (the “Expiration Date”),
unless earlier terminated as provided in Section 2(b).

 

     

     

    

 

(b)            Vesting
and Forfeiture of Option; Forfeiture of Shares; Expiration:

 

(i)            General.
This Option shall vest and become exercisable in three (3) substantially equal installments on each of the first three
(3) anniversaries of the Grant Date (that is, the Option shall vest and become exercisable with respect to 83,333 Option
Shares, 83,333 Option Shares, and 83,334 Option Shares on the first (1st), second (2nd), and third
(3rd) anniversaries of the Grant Date, respectively), subject to Optionee’s continued employment with the Company
and its Subsidiaries through each such date (except as otherwise provided in Section 2(b)(ii) or 2(b)(iii) below).
For the avoidance of doubt, notwithstanding anything to the contrary in the Plan, vesting of the Option shall not be accelerated
solely on account of a Change in Control.

 

(ii)            Termination
Because of Death/Disability. If the Optionee experiences a Termination by reason of the Optionee’s death or Disability (as
defined in the Grantee’s Executive Employment Agreement with the Company and Veris Residential, Inc., dated as of April [•],
2022, as amended from time to time (the “Employment Agreement”)), then the Option shall vest and become exercisable
with respect to a prorated number of Option Shares as would otherwise be scheduled to vest on the next regularly scheduled vesting date
described in Section 2(b)(i), with such proration based on the quotient obtained by dividing (x) the number of days elapsed
between the previous vesting date described in Section 2(b)(i) (if none, the Grant Date) and the date of Termination by (y) the
total number of days between the previous vesting date described in Section 2(b)(i) (if none, the Grant Date) and such next
regularly scheduled vesting date. Any portion of the Option that remains unvested after application of the preceding sentence shall immediately
terminate and be forfeited without consideration, and the vested portion of the Option shall remain outstanding and exercisable until
the Expiration Date.

 

(iii)            Termination
without Cause; Resignation for Good Reason. If the Optionee experiences a Termination by reason of (x) a termination of
employment by the Company and its Subsidiaries without Cause (as defined in the Employment Agreement, and other than by reason of death
or Disability), or (y) Optionee’s resignation for Good Reason (as defined in the Employment Agreement) (in each case, whether
during or following the Term of the Employment Agreement), any then-unvested portion of the Option shall vest, and the Option shall remain
outstanding and exercisable until the Expiration Date.

 

(iv)            Other
Terminations. If the Optionee experiences a Termination for any reason other than as set forth in Section 2(b)(ii)-(iv) above,
any then-unvested portion of the Option shall immediately terminate and be forfeited for no consideration, and the vested portion of
the Option shall remain outstanding and exercisable until the earlier of (x) thirty (30) days following such Termination, and (y) the
Expiration Date.

 

(v)            Release
Requirement. Notwithstanding anything to the contrary in this Section 2, any additional vesting upon Termination provided in
Sections 2(b)(ii)-(iv) shall be conditioned on Optionee, or the representative of Optionee’s estate, executing the Release
(as defined in the Employment Agreement), and the period provided in such Release having expired without Optionee exercising Optionee’s
right to revoke, not later than sixty (60) days after the Termination Date, and if Optionee fails to execute such Release, revokes the
Release, or the revocation period has not yet expired by the end of such sixty (60) day period, Optionee shall have no right to any such
payment or benefit.

 

    2 

     

    

 

(c)            Exercise;
Payment of Purchase Price Upon Exercise: Only the vested and outstanding portion of the Option may be exercised at any given time.
Any outstanding and vested portion of this Option may be exercised by Optionee from time to time by written notice to the Company specifying
the number of Option Shares as to which this Option is being exercised (which may be in electronic form pursuant to procedures established
by the Company). At the time of any exercise, the purchase price of the Option Shares as to which this Option is being exercised shall
be paid by Optionee to the Company (i) in cash, (ii) at the option of the Optionee, in Shares (including by withholding Option
Shares), valued at the mean of the high and low sale prices of such stock on the New York Stock Exchange on the day of exercise (or via
a broker-assisted “cashless exercise” procedure made available by the Company), or (iii) at the option of Optionee,
a combination thereof.

 

(d)            Non-transferability: This
Option shall not be transferable and may not be sold, assigned, transferred, pledged, hypothecated, or otherwise disposed by
Optionee other than by will or by the laws of descent and distribution (in which case, such transferee shall succeed to the rights
and obligations of Optionee hereunder). During the lifetime of Optionee, this Option shall be exercisable only by Optionee (or his
estate or legal representative in case of his death or Disability). If Optionee or anyone claiming under or through Optionee
attempts to violate this Section, such attempted violation shall be null and void and without effect.

 

(e)            No
Rights as Stockholder: Optionee shall have no rights as a stockholder with respect to any Shares subject to this Option prior to
the date of issuance to Optionee of a certificate or certificates for such shares (or evidence of book entry shares being recorded in
the Company’s books and records).

 

(f)            No
Rights to Continued Employment: This Option shall not confer upon Optionee any right to continued employment with the Company or
any subsidiary of the Company, or limit in any respect the right of the Company, the Board, or any subsidiary to terminate such employment
or service at any time.

 

(g)            Compliance
With Laws and Regulations: This Option and the obligation of the Company to sell and deliver shares hereunder, shall be subject to
all applicable federal and state laws, rules, and regulations and to such approvals by any governmental or regulatory agency as may be
required. The Company shall not be required to issue or deliver any certificates for Shares prior to (i) the listing of such shares
on any stock exchange on which the Shares may then be listed and (ii) the completion of any registration or qualification of such
shares under any federal or state law, or any rule or regulation of any government body which the Board or the Committee shall,
in its sole discretion, determine to be necessary or advisable. Moreover, this Option may not be exercised if its exercise, or the receipt
of Shares pursuant thereto, would be contrary to applicable law. The Option Shares shall be registered on Form S-8 promptly following
the grant of this Option.

 

    3 

     

    

 

3.            Withholding
and Taxes: If required under applicable law, in connection with the exercise of this Option, the Optionee will pay to the Company
any federal, state, or local or non-U.S. taxes of any kind required by law to be withheld with respect to such amount (the “Withholding
Amount”). Payment of the Withholding Amount shall be made by the Optionee at Optionee’s election either (x) in cash,
or (y) by transferring to the Company such number of Shares (including by withholding Option Shares) with a value equal to the Withholding
Amount (or via a broker-assisted “cashless exercise” procedure made available by the Company). The obligations of the Company
under this Agreement will be conditional on such payment or arrangements, and the Company and its affiliates shall, to the extent permitted
by law, have the right to deduct any such taxes from any payment otherwise due to the Optionee. The Option is intended to comply with
Proposed Treasury Regulation 1.409A-1(b)(5)(iii)(E) and will be interpreted accordingly.

 

4.            Adjustment
Provisions: In the event of (i) changes in the Shares by reason of stock dividends, spin-offs, split-ups, or combination of
shares, reclassifications, recapitalizations, mergers, consolidation, reorganizations, or liquidations or (ii) any spin-off, extraordinary
dividend, or distribution of assets, then in either case, appropriate adjustments shall be made by the Committee in (a) the number
and class of shares thereafter subject to this Option and (b) the purchase price for the Option Shares as set forth above, in each
case to prevent dilution or enlargement of the Optionee’s rights hereunder. Whether any adjustment or modification is required,
and the amount thereof, shall be determined by the Committee, which determination shall be final and binding on all interested parties.

 

5.            Corporate
Action by the Company: Existence of this Option shall not impair the right of the Company or its shareholders to make adjustments,
recapitalizations, reorganizations, or other changes in its capital structure or business, to consummate any merger or consolidation
of the Company, to issue bonds, debentures, preferred, or prior preference stocks ahead of or affecting the Shares or the rights thereof,
to dissolve or liquidate the Company, to sell or transfer all or any part of its assets or business, or to do or take any other corporate
act or proceeding it or they might have done or taken if this Option was not in existence.

 

6.            Interpretation:
As a condition of granting of this Option, Optionee, and each person who succeeds to Optionee’s rights hereunder, agrees that
any dispute or disagreement which shall arise out of or by reason of this Option shall be determined by the Committee in its sole
discretion and such determination shall be final and binding on all interested parties. If no Committee is acting, its functions
shall be performed by the Board, and each reference herein to the Committee shall, in that event, be deemed to refer to the Board.
By accepting this Agreement, Optionee and each person claiming under or through Optionee shall be conclusively deemed to have
indicated acceptance and ratification of, and consent to, the terms of the Plan as incorporated by reference herein (it being
understood that this Option is not granted under the Plan, but has been granted as a standalone, one-time “inducement”
award as described herein).

 

7.            Notices:
Any notice hereunder to the Company shall be addressed to it at its principal office, and any notice hereunder to Optionee shall be addressed
to Optionee at the residence address of Optionee as noted in the Company’s files, subject to the right of either party to designate
at any time hereafter in writing some other address.

 

8.            Binding
Effect: This Agreement shall be binding upon and inure to the benefit of any successors to the Company and all persons lawfully claiming
under the Optionee.

 

    4 

     

    

 

9.            Entire
Agreement. This Agreement contains the entire understanding of the Company and Optionee with respect to the subject matter hereof.
For the avoidance of doubt, the grant of this Option is in complete satisfaction of the “Sign-On Stock Option Award” described
in Section 4(b)(iv)(B) of the Employment Agreement.

 

10.            Governing
Law: This Agreement and the rights and obligations of the parties hereto shall be governed by the laws of the State of Maryland.

 

OPTIONEE ACKNOWLEDGES AND AGREES THAT NOTHING
IN THIS AGREEMENT, EXPRESS OR IMPLIED, SHALL CONFER UPON OPTIONEE ANY RIGHT WITH RESPECT TO CONTINUATION OF EMPLOYMENT WITH THE COMPANY,
NOR SHALL IT INTERFERE IN ANY WAY WITH OPTIONEE’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE OPTIONEE’S EMPLOYMENT AT
ANY TIME, WITH OR WITHOUT CAUSE.

 

[signature page follows]

 

    5 

     

    

 

IN WITNESS WHEREOF, Veris Residential, Inc.
has caused this Agreement to be executed by its duly authorized officer, and Optionee has executed this Agreement, both as of the date
and year first above written.

 

	VERIS RESIDENTIAL, INC.

    
	 	OPTIONEE
	 	 	 
	By:		 	
	Name: Anna
    Malhari	 	Name: Jeffrey
    Turkanis
	Title:
    Chief Operating Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00343-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00343-of-00352.parquet"}]]