Agreement for Extension of Employment and Noncompetition Agreement between Scott Rechler and Reckson Associates Realty Corp.

Summary

This agreement, dated December 6, 2005, is between Scott Rechler and Reckson Associates Realty Corp. It extends the term of Mr. Rechler’s employment and noncompetition agreement with the company through February 28, 2006. All rights and obligations under the original employment agreement remain in effect until that date, after which the agreement will end unless both parties agree to another extension.

EX-10.2 3 efc5-2488_5798524ex102.txt Exhibit 10.2 AGREEMENT FOR EXTENSION OF EMPLOYMENT AND NONCOMPETITION AGREEMENT AGREEMENT FOR EXTENSION OF EMPLOYMENT AND NONCOMPETITION AGREEMENT, dated December 6, 2005, by and between Scott Rechler (the "Executive") and Reckson Associates Realty Corp. (the "Employer"). Reference is made to that certain (i) 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 and (ii) Agreement for Extension of Employment and Noncompetition Agreement (the "Initial Extension Agreement"), dated September 27, 2005, by and between the Executive and the Employer. WHEREAS, the Initial Extension Agreement extended the term of the Employment Agreement in all respects through and including December 31, 2005; and WHEREAS, the Executive and the Employer wish to further extend the term of the Employment Agreement in all respects through and including February 28, 2006. NOW, THEREFORE, the Executive and the Employer hereby agree as follows: 1. The term of the Employment Agreement is extended through and including February 28, 2006. The Employment Agreement shall terminate on March 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 February 28, 2006. [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/ Jason Barnett ---------------------------------------------- Name: Jason Barnett Title: Executive Vice President and General Counsel /s/ Scott Rechler ------------------------------------------------- Scott Rechler 2