Document:

Exhibit 10.8

MACK-CALI
REALTY CORPORATION

TAX
GROSS-UP AGREEMENT

AGREEMENT
(“Agreement”) effective as of December 5, 2006 by and between Mack-Cali Realty
Corporation (the “Company”) and Barry Lefkowitz (“Employee”).

WHEREAS,
pursuant to the 2000 Employee Stock Option Plan of Mack-Cali Realty Corporation
(the “Plan”), the Company, on December 5, 2006, awarded Two Thousand Fifty Five
(2,055) shares (“Restricted Shares”) of the Company’s common stock, par value
$.01 per share (“Company’s Common Stock”) to the Employee subject to the terms,
conditions, and restrictions set forth in the Plan and the Restricted Share
Award Agreement between the Employee and the Company dated December 5, 2006
(hereinafter, “Restricted Share Award Agreement”); and

WHEREAS,
the Company wishes to provide the Employee with a tax gross-up payment upon the
date of grant applicable to such Restricted Shares;

NOW
THEREFORE, the parties hereto 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.             The Tax Gross-Up Payment shall be
made as soon as practicable following the date of vesting.

3.             The Company shall have the right to
deduct and withhold from the Tax Gross-Up Payment 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 Employee’s
employment agreement.

5.             This Agreement contains the entire
understanding of the parties with respect to the payment of the Tax Gross-Up
Payment and this Agreement shall not be modified or amended except in writing
and duly signed by each of the parties.

 

 

6.             This Agreement is not intended to
provide for an elective deferral of compensation that would be subject to
Section 409A of the Internal Revenue Code of 1986, as amended.

7.             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.

8.             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

  
	
   

  	
   

  	
  President
  and

  
	
   

  	
   

  	
  Chief
  Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Employee

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/
  Barry Lefkowitz

  
	
   

  	
   

  	
  Barry
  LefkowitzExhibit 10.9

 

 

MACK-CALI
REALTY CORPORATION

 

RESTRICTED
SHARE AWARD AGREEMENT

 

Roger W.
Thomas

 

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AGREEMENT
EVIDENCING THE GRANT

OF A RESTRICTED SHARE
AWARD PURSUANT

TO THE EMPLOYEE STOCK OPTION
PLAN

OF MACK-CALI REALTY CORPORATION

AGREEMENT
(“Agreement”) effective as of December 5, 2006 (“Grant Date”) by and between
Mack-Cali Realty Corporation (the “Company”) and Roger W. Thomas (“Recipient”).

WHEREAS,
pursuant to the 2000 Employee 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
seven thousand ten (7,010) shares of Common Stock (“Restricted Shares”) at no
out-of-pocket costs 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.  Notwithstanding that
ownership of Restricted Shares is fully vested in the Recipient as of the Grant
Date, the Restricted Shares granted hereunder may not be disposed of on or
prior to, and shall not be transferable until the first day following the six
month anniversary of the Grant Date (the “Holding Period”).

(b)           Vesting.  All seven thousand ten (7,010) Restricted
Shares granted hereunder shall be fully vested in the Recipient on the Grant Date.

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

(d)           Prohibition
Against Assignment.  During the
Holding 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 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 a certificate for the Restricted Shares,
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.

(b)           Effect
of the Expiration of the Holding Period. 
Upon the expiration of the Holding Period, the Company shall cause to be
delivered to the Recipient a certificate for the Restricted Shares free and
clear of restrictive legends.  In the
event that the Recipient dies before delivery of the certificate for the unrestricted
Restricted Shares, such certificate shall be delivered to, and registered in
the name of, the Recipient’s beneficiary or estate, as the case may be.

(c)           Rights
of Stockholder.  Except as otherwise
provided in Section 2 and this Section 3, during the Holding 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 

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to applicable withholding requirements,
if any, dividends on the Restricted Shares shall be paid to the Recipient when
earned and payable.

4.             Termination
of Employment.

A
termination of the Recipient’s employment with the Company for any reason on or
prior to the expiration of the Holding Period shall have no effect on the
obligations of the Company under this Agreement.  In the event that the Recipient’s employment
with the Company is terminated for any reason on or prior delivery of the certificate
for the unrestricted Restricted Shares, such certificate shall be delivered to
the Recipient in accordance with Section 3 as if the Recipient’s employment
with the Company had not been terminated.

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
Restricted Shares or cash amounts (for fractional Restricted Shares) equal to
the taxes then required by applicable federal, state and local law to be so
withheld.

6.             Adjustments
for Capital Changes.

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 Employment.

Nothing
in this Agreement shall confer on the Recipient any right to continue as an
employee of the Company or in any way affect the Company’s or any 

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subsidiary’s right to terminate the
Recipient’s employment at any time subject to the terms of the Recipient’s
employment agreement.

8.             Notice.

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

Mack-Cali Realty Corporation

P.O. Box 7817

Edison, New Jersey 08818-7817

Attn:       Mitchell E. Hersh

                President
and Chief Executive Officer

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

the Recipient at his address as set forth in the Company records or
such other address as the Recipient shall notify the Company of in writing.

9.             Section
409A.

This
Restricted Share Award Agreement is not intended to provide for an elective
deferral of compensation that would be subject to Section 409A of the Internal
Revenue Code of 1986, as amended (the “Code”), and the Company reserves the
right to unilaterally amend or modify this Agreement to ensure that the awards
do not become subject to the requirements of Section 409A thereof.

10.          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.

11.          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.

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12.          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.

13.          Successors.

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

  
	
   

  	
   

  	
  President and

  
	
   

  	
   

  	
  Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Recipient

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/
  Roger W. Thomas

  
	
   

  	
  Roger
  W. Thomas

  

 

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