Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
Independent Consulting Services Agreement with Former Chief Accounting Officer
In connection with the previously disclosed termination without cause of Veris
Residential, Inc.'s (the "Company") former Chief Accounting Officer, Giovanni M.
DeBari, on January 18, 2022, the Company and Mr. DeBari entered into an
Independent Consulting Services Agreement (the "Consulting Agreement"). Pursuant
to the Consulting Agreement, in exchange for Mr. DeBari's providing certain
consulting, cooperation, and transition services to the Company through July 13,
2022, Mr. DeBari will receive a consulting fee of $75,000 and will be considered
to have remained employed with the Company through the term of the Consulting
Agreement solely for purposes of calculating the prorated vesting of outstanding
long-term incentive plan units of limited partnership interest in Veris
Residential, L.P. to which Mr. DeBari may be entitled upon his termination of
employment with the Company.
Mr. DeBari is otherwise eligible to receive the severance payments and benefits
upon such a termination without cause (outside of a change in control) as set
forth in his amended and restated employment agreement with the Company dated as
of November 3, 2020 and filed as Exhibit 10.120 to the Company's Quarter
Report on Form 10-Q for the quarter ended September 30, 2020 , which is
incorporated herein by reference.
The foregoing summary of the Consulting Agreement does not purport to be
complete and is qualified in its entirety by the full text of the Consulting
Agreement, which is attached to this Current Report on Form 8-K as Exhibit 10.1
and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit Number Exhibit Title
10.1 Independent Consulting Services Agreement dated as of January
18, 2022 by and between Veris Residential, Inc. and Giovanni M.
DeBari.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
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