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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, DC 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">_________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section&nbsp;13 or 15(d)&nbsp;of
the</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of report (Date of earliest event reported):
<B>October 16, 2012 (October 16, 2012) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>American Realty Capital &ndash; Retail
Centers of America, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Maryland</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or Other Jurisdiction of Incorporation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 49%; padding-right: 3.2pt; font-weight: bold; text-align: center">333-169355</TD>
    <TD STYLE="vertical-align: bottom; width: 3%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 48%; padding-right: 3.2pt; font-weight: bold; text-align: center">27-3279039</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 3.2pt; text-align: center">(Commission File Number)</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.2pt; text-align: center">(IRS Employer Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.4pt 0pt 0; text-align: center"><B>405 Park Avenue, 15th Floor</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.4pt 0pt 0; text-align: center"><B>New York, New York 10022</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3.2pt; font-size: 10pt; text-align: center">(Address, including zip code, of Principal Executive Offices)&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.4pt; font-size: 10pt; font-weight: bold; text-align: center">(212) 415-6500</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.4pt; font-size: 10pt; text-align: center">(Registrant&rsquo;s Telephone Number, Including Area Code)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form&nbsp;8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 3.2pt; padding-left: 9pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 95%; padding-right: 3.2pt; padding-left: 9pt">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3.2pt; padding-left: 9pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding-right: 3.2pt; padding-left: 9pt">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3.2pt; padding-left: 9pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding-right: 3.2pt; padding-left: 9pt">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3.2pt; padding-left: 9pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding-right: 3.2pt; padding-left: 9pt">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72px; font-weight: bold">Item 5.02</TD>
    <TD STYLE="font-weight: bold">Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Effective October 16, 2012, Leslie D. Michelson
resigned as a member of the board of directors of American Realty Capital &ndash; Retail Centers of America, Inc. (the &ldquo;<U>Company</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Simultaneous with Mr. Michelson&rsquo;s
resignation, the board of directors of the Company appointed Edward G. Rendell as a member of the board of directors and Audit
Committee in accordance with the terms of the Company&rsquo;s Bylaws. Governor Rendell also served as a director of the Company
from February 2011 until March 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Governor Rendell, 68, served as the 45th
Governor of the Commonwealth of Pennsylvania from January 2003 through January 2011. Gov. Rendell has also served as an independent
director of American Realty Capital Global Trust, Inc. (&ldquo;<U>ARC Global</U>&rdquo;) since March 2012, American Realty Capital
Trust III, Inc. (&ldquo;<U>ARCT III</U>&rdquo;) since March 2012, and Business Development Corporation since January 2011. As the
Governor of the Commonwealth of Pennsylvania, he served as the chief executive of the nation&rsquo;s 6th most populous state and
oversaw a budget of $28.3 billion. He also served as the Mayor of Philadelphia from January 1992 through January 2000. As the Mayor
of Philadelphia, he eliminated a $250 million deficit, balanced the city&rsquo;s budget and generated five consecutive budget surpluses.
He was also the General Chairperson of the National Democratic Committee from November 1999 through February 2001. Governor Rendell
served as the District Attorney of Philadelphia from January 1978 through January 1986. In 1986 he was a candidate for governor
of the Commonwealth of Pennsylvania. In 1987, he was a candidate for the mayor of Philadelphia. From 1988 through 1991, Governor
Rendell was an attorney at the law firm of Mesirov, Gelman and Jaffe. From 2000 through 2002, Governor Rendell was an attorney
at the law firm of Ballard Sphar. Governor Rendell worked on several real estate transactions as an attorney in private practice.
An Army veteran, Governor Rendell holds a B.A. from the University of Pennsylvania and a J.D. from Villanova Law School. The Company
believes that Governor Rendell&rsquo;s experience as a director of Business Development Corporation, ARCT III and ARC Global and
his over thirty years of legal, political and management experience gained from serving in his capacities as the Governor of Pennsylvania
and as the Mayor and District Attorney of Philadelphia, including his experience in overseeing the acquisition and management of
Pennsylvania&rsquo;s real estate development transactions, including various state hospitals, make him well qualified to serve
as a member of the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Governor Rendell, like the Company&rsquo;s
other independent directors, will participate in the Company&rsquo;s compensation program for independent directors and the director
incentive restricted share plan. The Company pays to each of its independent directors a retainer of $30,000 per year, plus $2,000
for each board or board committee meeting the director attends in person ($2,500 for attendance by the chairperson of the audit
committee at each meeting of the audit committee), $750 for each meeting the director attends virtually and $1,500 for each meeting
the director attends by telephone. If there is a meeting of the board and one or more committees in a single day, the fees will
be limited to $2,500 per day ($3,000 for the chairperson of the audit committee if there is a meeting of such committee). The board
of directors may also approve the acquisition of real property and other related investments valued at $20,000,000 or less, and
in which any portfolio of properties is valued in the aggregate of $75,000,000 or less, via electronic board meetings whereby the
directors cast their votes in favor or against a proposed acquisition via email. The independent directors are entitled to receive
$750 for each transaction reviewed and voted upon with a maximum of $2,250 for three or more transactions reviewed and voted upon
per meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company also will pay each independent
director for each external seminar, conference, panel, forum or other industry-related event attended in person and in which the
independent director actively participates, solely in his or her capacity as an independent director of the company, in the following
amounts:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">$2,500 for each day of an external seminar, conference, panel, forum
or other industry-related event that does not exceed four hours, or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 60pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">$5,000 for each day of an external seminar, conference, panel, forum
or other industry-related event that exceeds four hours.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In either of the above cases, the Company
will reimburse, to the extent not otherwise reimbursed, an independent director&rsquo;s reasonable expenses associated with attendance
at such external seminar, conference, panel, forum or other industry-related event. An independent director cannot be paid or reimbursed
for attendance at a single external seminar, conference, panel, forum or other industry-related event by us and another company
for which he or she is a director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under the restricted share plan, Governor
Rendell will be entitled to receive an award of 3,000 restricted shares of common stock on the date of appointment and at each
annual stockholder&rsquo;s meeting. Restricted stock issued to independent directors vest over a five-year period following the
first anniversary of the date of grant in increments of 20% per annum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 0; padding-left: 0; font-weight: bold">AMERICAN REALTY CAPITAL &ndash; RETAIL CENTERS OF AMERICA, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 46%; padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="width: 4%; padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="width: 44%; padding-right: 0; padding-left: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0">Date: October 16, 2012</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; padding-right: 0; padding-left: 0">/s/ Nicholas S. Schorsch&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">Name:</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">Nicholas S. Schorsch</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">Title:</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.2pt 0pt 0">Chief Executive Officer and</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.2pt 0pt 0">Chairman of the Board of Directors</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"></P>

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{"company-data": {"conformed-name": "AMERICAN REALTY CAPITAL - RETAIL CENTERS OF AMERICA, INC.", "cik": "0001500554", "assigned-sic": "6798", "irs-number": "273279039", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-169355", "film-number": "121146989"}, "business-address": {"street1": "405 PARK AVENUE", "city": "NEW YORK", "state": "NY", "zip": "10022", "phone": "212 415 6500"}, "mail-address": {"street1": "405 PARK AVENUE", "city": "NEW YORK", "state": "NY", "zip": "10022"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
_________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
October 16, 2012 (October 16, 2012)
American Realty Capital – Retail
Centers of America, Inc.
(Exact Name of Registrant as Specified in
Its Charter)
Maryland
(State or Other Jurisdiction of Incorporation)
333-169355
27-3279039
(Commission File Number)
(IRS Employer Identification No.)
405 Park Avenue, 15th Floor
New York, New York 10022
(Address, including zip code, of Principal Executive Offices)
(212) 415-6500
(Registrant's Telephone Number, Including Area Code)
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02
Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers
Effective October 16, 2012, Leslie D. Michelson
resigned as a member of the board of directors of American Realty Capital – Retail Centers of America, Inc. (the "
Company
").
Simultaneous with Mr. Michelson's
resignation, the board of directors of the Company appointed Edward G. Rendell as a member of the board of directors and Audit
Committee in accordance with the terms of the Company's Bylaws. Governor Rendell also served as a director of the Company
from February 2011 until March 2012.
Governor Rendell, 68, served as the 45th
Governor of the Commonwealth of Pennsylvania from January 2003 through January 2011. Gov. Rendell has also served as an independent
director of American Realty Capital Global Trust, Inc. ("
ARC Global
") since March 2012, American Realty Capital
Trust III, Inc. ("
ARCT III
") since March 2012, and Business Development Corporation since January 2011. As the
Governor of the Commonwealth of Pennsylvania, he served as the chief executive of the nation's 6th most populous state and
oversaw a budget of $28.3 billion. He also served as the Mayor of Philadelphia from January 1992 through January 2000. As the Mayor
of Philadelphia, he eliminated a $250 million deficit, balanced the city's budget and generated five consecutive budget surpluses.
He was also the General Chairperson of the National Democratic Committee from November 1999 through February 2001. Governor Rendell
served as the District Attorney of Philadelphia from January 1978 through January 1986. In 1986 he was a candidate for governor
of the Commonwealth of Pennsylvania. In 1987, he was a candidate for the mayor of Philadelphia. From 1988 through 1991, Governor
Rendell was an attorney at the law firm of Mesirov, Gelman and Jaffe. From 2000 through 2002, Governor Rendell was an attorney
at the law firm of Ballard Sphar. Governor Rendell worked on several real estate transactions as an attorney in private practice.
An Army veteran, Governor Rendell holds a B.A. from the University of Pennsylvania and a J.D. from Villanova Law School. The Company
believes that Governor Rendell's experience as a director of Business Development Corporation, ARCT III and ARC Global and
his over thirty years of legal, political and management experience gained from serving in his capacities as the Governor of Pennsylvania
and as the Mayor and District Attorney of Philadelphia, including his experience in overseeing the acquisition and management of
Pennsylvania's real estate development transactions, including various state hospitals, make him well qualified to serve
as a member of the board of directors.
Governor Rendell, like the Company's
other independent directors, will participate in the Company's compensation program for independent directors and the director
incentive restricted share plan. The Company pays to each of its independent directors a retainer of $30,000 per year, plus $2,000
for each board or board committee meeting the director attends in person ($2,500 for attendance by the chairperson of the audit
committee at each meeting of the audit committee), $750 for each meeting the director attends virtually and $1,500 for each meeting
the director attends by telephone. If there is a meeting of the board and one or more committees in a single day, the fees will
be limited to $2,500 per day ($3,000 for the chairperson of the audit committee if there is a meeting of such committee). The board
of directors may also approve the acquisition of real property and other related investments valued at $20,000,000 or less, and
in which any portfolio of properties is valued in the aggregate of $75,000,000 or less, via electronic board meetings whereby the
directors cast their votes in favor or against a proposed acquisition via email. The independent directors are entitled to receive
$750 for each transaction reviewed and voted upon with a maximum of $2,250 for three or more transactions reviewed and voted upon
per meeting.
The Company also will pay each independent
director for each external seminar, conference, panel, forum or other industry-related event attended in person and in which the
independent director actively participates, solely in his or her capacity as an independent director of the company, in the following
amounts:
·
$2,500 for each day of an external seminar, conference, panel, forum
or other industry-related event that does not exceed four hours, or
·
$5,000 for each day of an external seminar, conference, panel, forum
or other industry-related event that exceeds four hours.
In either of the above cases, the Company
will reimburse, to the extent not otherwise reimbursed, an independent director's reasonable expenses associated with attendance
at such external seminar, conference, panel, forum or other industry-related event. An independent director cannot be paid or reimbursed
for attendance at a single external seminar, conference, panel, forum or other industry-related event by us and another company
for which he or she is a director.
Under the restricted share plan, Governor
Rendell will be entitled to receive an award of 3,000 restricted shares of common stock on the date of appointment and at each
annual stockholder's meeting. Restricted stock issued to independent directors vest over a five-year period following the
first anniversary of the date of grant in increments of 20% per annum.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
AMERICAN REALTY CAPITAL – RETAIL CENTERS OF AMERICA, INC.
Date: October 16, 2012
By:
/s/ Nicholas S. Schorsch
Name:
Nicholas S. Schorsch
Title:
Chief Executive Officer and
Chairman of the Board of Directors