Item 1.01 Entry Into a Material Definitive Agreement.
On January 14, 2020, iStar Inc. and Safehold Inc. agreed to extend the terms of
certain agreements between them. In particular: (i) the initial term of the
parties' management agreement has been extended from June 30, 2022 to June 30,
2023; (ii) a twelve month tail period has been added to iStar's exclusivity
obligations under the parties' exclusivity agreement if iStar, as Safehold's
manager, terminates the management agreement without cause pursuant to the terms
thereof; and (iii) the expiration date of iStar's standstill obligations under
the parties' stockholder's agreement has been extended from January 2, 2021 to
June 30, 2022.
Copies of the amendments entered into as of January 14, 2020 are filed as
exhibits to this Current Report and are incorporated herein by reference. The
description of the amendments provided above is a summary of the amendments and
is qualified in its entirety by reference to the actual amendments.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit 10.1 Amendment to Amended and Restated Management Agreement, dated as
of January 14, 2020.
Exhibit 10.2 Amendment to Exclusivity and Expense Reimbursement Agreement,
dated as of January 14, 2020.
Exhibit 10.3 Amendment to Stockholder's Agreement, dated as of January 14,
2020.
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