Attached files
file | filename |
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EXCEL - IDEA: XBRL DOCUMENT - KB HOME | Financial_Report.xls |
10-Q - FORM 10-Q - KB HOME | c14529e10vq.htm |
EX-32.1 - EXHIBIT 32.1 - KB HOME | c14529exv32w1.htm |
EX-31.1 - EXHIBIT 31.1 - KB HOME | c14529exv31w1.htm |
EX-31.2 - EXHIBIT 31.2 - KB HOME | c14529exv31w2.htm |
EX-32.2 - EXHIBIT 32.2 - KB HOME | c14529exv32w2.htm |
EX-10.41 - EXHIBIT 10.41 - KB HOME | c14529exv10w41.htm |
Exhibit 10.42
Executive Severance Benefit Decisions
On April 7, 2011, on the recommendation of KB Home management, the Management Development and
Compensation Committee (the Committee) of KB Homes Board of Directors determined that the
provisions of the Policy Regarding Stockholder Approval of Certain Severance Payments (the
Policy) apply to (i) Jeff J. Kaminski, KB Homes Executive Vice President and Chief Financial
Officer, and to Brian J. Woram, KB Homes Executive Vice President, General Counsel and
Secretary, and (ii) to executive officers hired after the July 10, 2008 adoption of the Policy
who are eligible for change in control benefits, whether by employment agreement, corporate
policy or corporate benefit. In addition, on the recommendation of the Committee, the Board of
Directors determined that each of Messrs. Kaminski and Woram are and will continue to be Group A
Participants under KB Homes Change in Control Severance Plan (the Plan), but that they will
not be entitled to or eligible to receive a Gross-Up Payment (as that term is defined in the
Plan) to cover certain taxes that may apply to payments made under the Plan in certain
circumstances. Each of Messrs. Kaminski and Woram agree with and accept the foregoing
determinations and each has agreed to be bound by them. Neither of Messrs. Kaminski and Woram
received or returned any Gross-Up Payment or other amounts in connection with these
determinations.