{"id":39299,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/employment-agreement-kaufman-and-broad-home-corp-and-roger.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-kaufman-and-broad-home-corp-and-roger","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-kaufman-and-broad-home-corp-and-roger.html","title":{"rendered":"Employment Agreement &#8211; Kaufman and Broad Home Corp. and Roger Menard"},"content":{"rendered":"<pre>\n\nFebruary 27, 1995\n\nMr. Roger Menard\n23446 Toyonita Road\nLos Altos Hills, California  94022\n\nDear Roger:\n\nThe intent of this letter is to amend your employment agreement dated April 6,\n1992.  The changes, as approved by the Personnel, Compensation and Stock Plan\nCommittee of the Board of Directors on January 25, 1995, only effects sections\n2, 3 and 4 of your agreement.  The remaining provisions remain intact and in\neffect.  The changes are as follows and become effective January 1, 1995.\n\nSection 2 Term:  The term of your agreement has been extended for two years\nwhich will now continue through November 30, 1997.\n\nSection 3 Duties and Responsibilities:  This section is being amended to\nreflect expanded responsibilities effective December 1, 1993.  Your new title\nis Executive Vice President and President, U.S. Operations.\n\nSection 4 Compensation:\n\n         (a)     Base Salary:  Your base salary, effective January 1, 1995, has\n                 been increased to $350,000.\n\n         (b)     Incentive Compensation:  Your Incentive Compensation for 1995\n                 shall be 8.5% of the 'U.S. Operations Incentive Compensation\n                 Pool' created generally by the pretax profits and losses of\n                 all domestic operating divisions for which you have\n                 responsibility, including the Mortgage Company.  As stated in\n                 you April 1992 Agreement:\n\n                          'As with division compensation pools, your Incentive\n                          Compensation Pool is determined in accordance with\n                          the formula adopted by the Board of Directors and may\n                          be adjusted from time to time.  In addition, a\n                          minimum return on equity, in an amount to be\n                          determined by the Board of Directors, may be taken\n                          into consideration in computing future pretax\n                          earnings.'\n\nMr. Roger Menard\nFebruary 27, 1995\nPage Two\n\n\n         (c)     The Deferral Point is eliminated from your agreement and all\n                 cash compensation will be paid during the month of January in\n                 the following year.  All incentive compensation will be paid\n                 pursuant to the terms of the Performance-Based Incentive Plan\n                 for Senior Management.  This plan will be sent to the\n                 shareholders for approval as part of our 1995 annual meeting.\n                 If the plan for any reason is not approved the agreement will\n                 be terminated.  There will be a cap on annual cash incentive\n                 compensation of $2 million.\n\n\nThese are the extent of changes made to your previous agreement.  Please\nsignify your acceptance of these changes by signing this letter addendum and\nreturning it to Alan Kaye, Vice President, Human Resources at our corporate\noffice.\n\nAs always, Roger, I look forward to working with you for many more successful\nyears.\n\n\nSincerely,\n\n\/s\/ Bruce Karatz\n- --------------------------\nBruce Karatz\nChairman and CEO\n\n\nAgreed to and Acknowledged by:\n\n\n\/s\/ Roger Menard                          \n- --------------------------\nRoger Menard\n\n\n\nFebruary 27, 1995\n- --------------------------\nDate\n\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7964],"corporate_contracts_industries":[9480],"corporate_contracts_types":[9539,9544],"class_list":["post-39299","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-kb-home","corporate_contracts_industries-construction__contractors","corporate_contracts_types-compensation","corporate_contracts_types-compensation__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/39299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=39299"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39299"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39299"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}