SEC Contract Filing

Filing Date: 2021-04-16

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tm2113185d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Mack-Cali Realty Corporation Clawback Policy</U></B></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">I.</TD><TD STYLE="text-align: justify"><B>Policy Overview. </B>The Board of Directors (the &ldquo;<B>Board</B>&rdquo;) of Mack-Cali Realty Corporation
(the &ldquo;<B>Company</B>&rdquo;) believes that it is in the best interests of the Company and its shareholders to create and maintain
a culture that emphasizes integrity and accountability. The Board has therefore adopted this Clawback Policy (this &ldquo;<B>Policy</B>&rdquo;)
which provides for the recoupment of certain management compensation (<B>&ldquo;Incentive Compensation&rdquo;</B> as defined below) from
certain employees of the Company (<B>&ldquo;Covered Employees&rdquo;</B> as defined below) in the event of a restatement of the Company&rsquo;s
reported financial results in the circumstances described below. This Policy will be administered by the Board or a committee of the Board
designated to act for the Board on any matter that the Board determines is or may be covered by this Policy (the &ldquo;<B>Administrator</B>&rdquo;).</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">It is the Company&rsquo;s policy that,
subject to the discretion and approval of the Administrator (acting consistent with its legal and fiduciary obligations), the Company
shall, to the extent permitted by governing law, recover or cancel all or a portion of any Incentive Compensation awarded to any Covered
Employees of the Company where the Administrator has determined that:</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">the Company is required to prepare an accounting restatement of the Company&rsquo;s consolidated financial
statements due to the material non-compliance by the Company with any financial reporting requirement under the securities laws (other
than a restatement the Administrator determines (i) is required or permitted under generally accepted accounting principles in connection
with the adoption or implementation of a new accounting principle or interpretation, or (ii) is caused by the Company&rsquo;s decision
to change its accounting practice as permitted by applicable law);</TD></TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify">fraud or willful misconduct contributed, either directly or indirectly, to the non-compliance that resulted
in the obligation to restate the Company&rsquo;s consolidated financial statements; <U>and</U></TD></TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">c.</TD><TD STYLE="text-align: justify">a lower incentive-based compensation award would have been made to one or more executive officers based
upon the restated financial results.</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In such instance, the Administrator
shall have the right, as to any Covered Employee, to cause the Company to require the reimbursement by the Covered Employee, to the extent
permitted by governing law, of the Incentive Compensation received by them that the Administrator determines was received in excess of
the amount that would have been received based upon the Restatement (such excess, the &ldquo;<B>Overpayment</B>&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">This Policy applies to any Overpayment
received by a Covered Employee after the Effective Date of this Policy based on the affected consolidated financial statements for up
to three years after an incentive-based compensation award is earned. This Policy permits the Company to recover an Overpayment from a
Covered Employee irrespective of whether the affected Covered Employee is the person who committed the fraud or willful misconduct.</P>