Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On January 22, 2021, Mack-Cali Realty Corporation (the "Company"), the general
partner of Mack-Cali Realty, L.P. through which the Company conducts its
business, entered into a six-month extension (the "Extension Letter") of that
certain letter agreement (the "Letter Agreement") with MAG Partners 2.0 LLC
("MAG Partners"), pursuant to which MAG Partners has made MaryAnne Gilmartin's
services available to the Company to serve as its interim Chief Executive
Officer. Pursuant to the Extension Letter, the term of the Letter Agreement has
been extended until July 25, 2021 (the "Term"). However, Ms. Gilmartin's
appointment as interim Chief Executive Officer will end upon the earlier to
occur of (x) the commencement of employment of a permanent Chief Executive
Officer of the Company or (y) a date selected by the Board of Directors of the
Company, and during any remaining portion of the Term, MAG Partners will
continue to make Ms. Gilmartin reasonably available to assist with the
transition of Ms. Gilmartin's duties to her successor and with any other matters
that the Company may reasonably request. In addition, if the Term ends at any
time prior to July 25, 2021 (other than a termination by the Company for cause),
then the Company will continue to pay MAG Partners its monthly $150,000 cash
retainer fee through July 25, 2021.
The foregoing summary of the Extension Letter does not purport to be complete
and is qualified in its entirety by the full text of the Extension Letter, which
is attached to this Current Report on Form 8-K as Exhibit 10.1 and incorporated
herein by this reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
10.1 Extension Letter, by and among Mack-Cali Realty Corporation, MAG
Partners 2.0 LLC, and MaryAnne Gilmartin, dated as of January 22,
2021.
104.1 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
© Edgar Online, source Glimpses