Exhibit 10.3
AGREEMENT FOR EXTENSION OF EMPLOYMENT
AND NONCOMPETITION AGREEMENT
AGREEMENT FOR EXTENSION OF EMPLOYMENT AND NONCOMPETITION AGREEMENT,
dated September 27, 2005, by and between Xxxxx Xxxxxxx (the "Executive") and
Reckson Associates Realty Corp. (the "Employer").
Reference is made to that certain Amendment and Restatement of
Employment and Noncompetition Agreement (the "Employment Agreement"), dated as
of August 15, 2000, by and between the Executive and the Employer.
WHEREAS, the Executive and the Employer wish to extend the term of
the Employment Agreement in all respects through and including December 31,
2005.
NOW, THEREFORE, the Executive and the Employer hereby agree as
follows:
1. The term of the Employment Agreement is extended through and
including December 31, 2005. The Employment Agreement shall terminate on
January 1, 2006 unless extended for such period or periods, if any, as agreed
to by the Executive and the Employer.
2. In accordance with the foregoing, all rights, duties and
obligations set forth under the Employment Agreement shall be in full force
and effect through and including December 31, 2005.
[SIGNATURES ON NEXT PAGE]
IN WITNESS WHEREOF, this Agreement for Extension of Employment and
NonCompetition Agreement is entered into as of the date first set forth above.
RECKSON ASSOCIATES REALTY CORP.
By: /s/ Xxxxx Xxxxxxx
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Name: Xxxxx Xxxxxxx
Title: Executive Vice President and
General Counsel
/s/ Xxxxx Xxxxxxx
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Xxxxx Xxxxxxx
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