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Exhibit 10.8    
  

 
 

MACK-CALI REALTY CORPORATION
  
    TAX GROSS UP AGREEMENT    
  

        Agreement ("Agreement") effective as of January 2, 2003 by and between Mack-Cali Realty
Corporation (the "Company") and Barry Lefkowitz ("Employee"). 

        Whereas, pursuant to the Employee Stock Option Plan of Mack-Cali Realty Corporation which was originally effective
August 31, 1994 and amended and restated as of December 1, 1998 (the "Plan"), the Company, on January 2, 2003, awarded 28,000 shares of the Company's common stock, par value $.01
per share ("Restricted Shares") to the Employee subject to the terms, conditions, and restrictions set forth in the Plan, the Restricted Share Award Agreement between the Employee and the Company
dated January 2, 2003 (hereinafter, "Restricted Share Award Agreement") and the Second Amended and Restated Employment Agreement dated as of July 1, 1999 by and between the Company and
the Recipient (the "Employment Agreement"); and 

        Whereas, the Company wishes to provide the Employee with certain tax gross up payments upon the vesting of such Restricted Shares; 

        Now Therefore, the parties hereto hereby agree as follows: 

        1.    Employee
shall be entitled to receive a tax gross-up payment (the "Tax Gross-Up Payment" from the Company with respect to each tax year in which
the Restricted Shares granted pursuant to the Restricted Share Award Agreement vest and are distributed to him. Each Tax Gross-Up Payment shall be a dollar amount equal to forty-three
percent (43%) of the fair market value of the Restricted Shares at the time of vesting, exclusive of dividends. 

        2.    In
the event vesting occurs with respect to any Restricted Shares as a result of the achievement of the required performance goals, as set forth in the Restricted Share
Award Agreement, such payment shall be made as soon as practicable after a determination that the performance goals have been achieved but in no event later than the ninetieth (90th) day
of the fiscal year of the Company immediately following the fiscal year as to which the performance goals were achieved irrespective of whether Employee is still employed on the date of such payment.
In the event vesting occurs for any other reason, including, without limitation, termination of Employee's employment by the Company without Cause (as defined in the Employment Agreement) or by
Employee for Good Reason (as defined in the Employment Agreement) (but excluding a termination by the Company for Cause or a voluntary quit without Good Reason by Employee), such payment shall be made
as soon as practicable after the date of vesting but in no event later than the tenth (10th) business day following such vesting. 

        3.    The
Company shall have the right to deduct and withhold from all Tax Gross-Up Payments all social security and other federal, state and local taxes and
charges which currently are or which hereafter may be required by law to be so deducted and withheld. 

        4.    Nothing
in this Agreement shall confer on the Employee any right to continue as an employee of the Company or in any way affect the Company's or any subsidiary's right to
terminate the Employee's employment at any time subject to the terms of the Employment Agreement. 

        5.    This
Agreement together with the Restricted Share Award Agreement and the Employment Agreement contain the entire understanding of the parties with respect to the payment
of the Tax Gross-Up Payments and this Agreement shall not be modified or amended except in writing and duly signed by each of the parties. 

        6.    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. 

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

 

        In Witness Whereof, the parties hereto have executed this Agreement to be effective on the date first above written. 

	 	 	Mack-Cali Realty Corporation
	

 	
 	
By:	

/s/  MITCHELL E. HERSH      
 Mitchell E. Hersh

Chief Executive Officer
	

 	
 	
Employee
	

 	
 	

/s/  BARRY LEFKOWITZ      
 Barry Lefkowitz

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Exhibit 10.8

MACK-CALI REALTY CORPORATION TAX GROSS UP AGREEMENTQuickLinks
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Exhibit 10.9    
  

 
 

FIRST AMENDMENT TO THE
  RESTRICTED SHARE AWARD AGREEMENT
  FOR BARRY LEFKOWITZ EFFECTIVE AS OF JULY 1, 1999    
  

        This Amendment No. 1 is made, effective as of January 2, 2003 by and between Mack-Cali Realty Corporation, a Maryland corporation (the
"Company") and Barry Lefkowitz (the "Recipient"). 

        Whereas, the Company and the Recipient entered into an Agreement Evidencing the Grant of a Restricted Share Award effective as of
July 1, 1999 (the "Agreement"), pursuant to which the Company awarded 26,094 shares of the Company's common stock, par value $.01 per share ("Common Stock") to the Recipient pursuant to the
Employee Stock Option Plan of Mack-Cali Realty Corporation which was originally effective August 31, 1994 and amended and restated as of December 1, 1998 (the "Plan"), and 

        Whereas, pursuant to the terms of, and authority granted under, the Plan and the Agreement, the Company and Recipient wish to amend the
Agreement as set forth herein; 

        Now Therefore, the parties hereto hereby agree as follows: 

        1.    Definitions.    

        Capitalized
terms not otherwise defined herein shall have the meanings set forth in the Agreement. 

        2.    Amendments to the Restricted Share Award Agreement.    

        (i)    Section 2(a)
of the Agreement is hereby deleted in its entirety and replaced with the following: 

        "(a)    General Rules.    Ownership of Restricted Shares shall not vest in the Recipient, and shall be subject to
forfeiture until the conditions of Sections 2(b), (c), (d) and (e) 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."" 

        (ii)    Section 2(b)
of the Agreement is hereby deleted in its entirety and replaced with the following: 

        "(b)    Vesting.    An aggregate of 26,094 Restricted Shares may vest in the Recipient on a year by year basis over a
nine to eleven year Vesting Period. The number of Restricted Shares which have been vested and earned on each Vesting Date on a year by year basis as a result of the Performance Goals specified in
Section 2(c) below being satisfied is as follows: 

	Restricted Shares
 
	 	Vesting Date

	3,914	 	January 1, 2000
	3,914	 	January 1, 2001
	5,218	 	January 1, 2002

The
number of Restricted Shares scheduled to be vested and earned on January 2, 2003 as specified in Section 2(d) below is as follows: 

	Restricted Shares
 
	 	Vesting Date

	6,523	 	January 2, 2003

 

The
number of Restricted Shares initially scheduled to be vested and earned on each Vesting Date on a year by year basis provided the Annual Performance Targets applicable pursuant to
Section 2(e) below are satisfied is as follows: 

	Restricted Shares
 
	 	Vesting Date

	979	 	 	January1, 2004
	979	 	 	January 1, 2005
	1,305	 	 	January 1, 2006
	1,631	 	 	January 1, 2007
	1,631	 	 	January 1, 2008"

        (iii)    Sections
2(d) and 2(e) of the Agreement shall be renumbered as Sections 2(f) and 2(g), respectively, and the following new sections 2(d) and 2(e) shall be inserted: 

        "(d)    Time Vesting.    6,523 Restricted Shares shall vest on January 2, 2003. 

        (e)    Annual Performance Targets.    (i) The Restricted Shares shall vest on the applicable Vesting Date on a
year by year basis provided that the Annual Performance Targets (as hereinafter defined) for the calendar year ending on the last day of the Company's fiscal year immediately preceding such Vesting
Date are met. The "Annual Performance Targets" shall mean the annual performance targets for each applicable calendar year as determined by the Executive Compensation and Option Committee of the
Company's Board of Directors and communicated to the Recipient no later than the last day of the first calendar quarter of the applicable calendar year; and (ii) In the event that the Annual
Performance Targets for any calendar year are not satisfied so that the Restricted Shares do not vest on the Vesting Date on which they were scheduled to vest had the Annual Performance Targets been
met, such Restricted Shares that failed to vest on such Vesting Date shall vest on any subsequent Vesting Date provided that the Annual Performance Targets for a subsequent calendar year are met. If
any Restricted Shares remain unvested as of January 1, 2008, Annual Performance Targets shall be set for the 2008 calendar year and if any Restricted Shares have not vested by January 1,
2009, Annual Performance Targets shall be set for the 2009 calendar year. The Vesting Date applicable to the 2008 calendar year is January 1, 2009 and for the 2009 calendar year is
January 1, 2010. Any Restricted Shares that have not been earned and vested by January 1, 2010 shall automatically be canceled or forfeited." 

        3.    Miscellaneous.    Except as specifically amended above, the Agreement and all provisions thereof shall remain in
full force and effect and are hereby ratified and confirmed. Additionally, upon the effectiveness of this Amendment, on and after the date hereof, each reference in the Agreement to "this Agreement",
"hereunder", "hereof", "herein" or words of like import, and each reference to the Agreement in any document relating to the Agreement, shall mean and be a reference to the Agreement as amended
hereby. 

THE
REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK. 

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        In Witness Whereof, the parties hereto have executed this Amendment effective as of the date first written above. 

	 	 	Mack-Cali Realty Corporation
	

 	
 	
By:	

/s/  MITCHELL E. HERSH      
 Name: Mitchell E. Hersh

Title: Chief Executive Officer
	

 	
 	
Recipient
	

 	
 	

/s/  BARRY LEFKOWITZ      
 Barry Lefkowitz

3

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Exhibit 10.9

FIRST AMENDMENT TO THE RESTRICTED SHARE AWARD AGREEMENT FOR BARRY LEFKOWITZ EFFECTIVE AS OF JULY 1, 1999

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