EDISON, NJMitchell E. Hersh, who steps down in May 2015 as president and chief executive officer of Mack-Cali, will receive $8 million in cash as part of a severance package that includes accelerated vesting of stock options and paid medical benefits for his family for up to four years after he leaves the company, according to the company’s Form 8-K, filed with the Securities and Exchange Commission late Tuesday.

Hersh will also receive $2.3 million from a deferred compensation agreement, according to the Mack-Cali public filing.

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