Exhibit 10.30
 KB HOME
RETIREMENT PLAN
(AMENDED AND RESTATED EFFECTIVE JANUARY 1, 2009)




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TABLE OF CONTENTS
 ARTICLE I
THE PLAN
 1.1 Establishment of the Plan
    
    
    11.2 Purpose
    
    
    1
 ARTICLE II
DEFINITIONS
 2.1 Definitions
    
    
    12.2 Gender and Number
    
    
    5
 ARTICLE III
PARTICIPATION
 3.1 Eligibility for Participation
    
    
    53.2 Date of Participation
    
    
    63.3 Duration of Participation
    
    
    73.4 Re-Employment
    
    
    7
 ARTICLE IV
SUPPLEMENTAL RETIREMENT BENEFITS
 4.1 Vesting
    
    
    84.2 Supplemental Retirement Benefits
    
    
    84.3 Commencement and Duration
    
    
    84.4 Benefits in the Event of Death
    
    
    9
 ARTICLE V
SPECIAL BENEFIT PAYMENT RULES
 5.1 Receipt and Release
    
    
    95.2 Cost of Living Adjustments
    
    
    10
 ARTICLE VI
CHANGE IN CONTROL
 6.1 Full Vesting and Lump Sum Option Upon Change in Control
    
    
    116.2 Amount of Lump Sum Benefit
    
    
    11
 ARTICLE VII
TRUST
 7.1 Establishment of the Trust
    
    
    127.2 Contributions
    
    
    127.3 Payment of Benefits
    
    
    13
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ARTICLE VIII
ADMINISTRATION
 8.1 Administration
    
    
    138.2 Decisions and Actions of Committee
    
    
    138.3 Rules and Records of the Committee
    
    
    138.4 Employment of Agents
    
    
    148.5 Agent for Service of Legal Process
    
    
    148.6 Plan Expenses
    
    
    148.7 Indemnification
    
    
    148.8 Tax Withholding
    
    
    148.9 Claims Procedure
    
    
    14
 ARTICLE IX
MISCELLANEOUS
 9.1 Rights Against the Company
    
    
    159.2 Rights Under the Companys Other Retirement Plans
    
    
    159.3 Payment of Benefits to Incompetent
    
    
    169.4 Missing Person
    
    
    169.5 Amendment or Termination
    
    
    169.6 Merger or Consolidation of Plan and Trust
    
    
    179.7 Arbitration/Interest on Unpaid Amounts/Controlling Law
    
    
    179.8 Rights to Trust Fund Assets
    
    
    189.9 Nontransferability
    
    
    189.10 Illegality of Particular Provision
    
    
    18
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ARTICLE I
The Plan
 1.1 Establishment of the Plan
  1.2 Purpose
  ARTICLE II
Definitions
 2.1 Definitions
  (a)
    
    Actshall mean the Securities Exchange Act of 1934, as amended.(b)
    
    Actuarial Equivalentshall mean a single sum present value of a benefit amount
otherwise payable, calculated using an annual interest rate assumption equal to 100% of
the Applicable Federal Rate last announced by the Internal Revenue Service prior to the
determination for the period of time over which the benefits (or remaining annual
benefits, as the case may be) would otherwise be paid, and based on annual compounding.(c)
    
    Administrative Committeeshall mean a committee composed of one or more officers of
the Company appointed by the Company, acting through its Chief Executive Officer or a
delegate of such officer, from time to time. In the absence of such a committee,
references to the Administrative Committee shall be deemed to be references to the
Committee.(d)
    
    Annual Benefit Amountshall mean the dollar amount, determined by the Committee and
set forth in the Participants Participation Agreement, that is to be used for purposes of
calculating the Participants benefit opportunity under this Plan.(e)
    
    Beneficiaryshall mean the person or persons last designated in writing, on a form
or in a manner approved by the Administrative Committee, by a Participant to
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receive benefits in the event of the death of the Participant. In the event that a
Participant failed to designate a beneficiary, or if for any reason such designation
shall be legally ineffective, or if all designated beneficiaries predecease him or die
simultaneously with him, a distribution to which the Participant would have been
entitled under this Plan shall be made to the Participants surviving spouse or, if
none, to the Participants estate.Upon the Committee or Administrative Committee being provided with written notice of
the dissolution of marriage of a Participant, any earlier designation of the
Participants former spouse as a Beneficiary for a portion or all of the benefits
specified herein shall be treated as though the Participants former spouse had
predeceased the Participant. Notwithstanding the preceding sentence, any designation
of the Participants former spouse as a Beneficiary shall not be treated as though the
Participants former spouse had predeceased the Participant if, after the dissolution
of the Participants marriage and prior to payment of benefits on behalf of the
Participant (1) the Participant executes and delivers a new Beneficiary designation
that complies with this Plan that clearly names such former spouse as a Beneficiary, or
(2) there is delivered to the Plan a domestic relations order providing that the former
spouse is to be treated as the Beneficiary. In any case in which the Participants
former spouse is treated under the Participants Beneficiary designation as having
predeceased the Participant, no heirs or other beneficiaries of the former spouse shall
receive benefits from this Plan as a Beneficiary of the Participant except as provided
otherwise in the Participants Beneficiary designation.(The following example illustrates the application of the preceding paragraph. Assume
that a Participant, Participant A, is married to Spouse A and that Participant A
files a valid and effective Beneficiary designation under this Plan naming Spouse A as
a 50% Beneficiary and each of Participant As two children with Spouse A (the
Children) as a 25% Beneficiary. Assume that Participant A becomes divorced from
Spouse A after making such Beneficiary designation. Upon the Committee or
Administrative Committee being provided with written notice of the divorce, Spouse A
shall be deemed to have predeceased Participant A for purposes of Participant As
Beneficiary designation subject to the second sentence of the preceding paragraph. If
Participant A later dies without having made a valid post-divorce Beneficiary
designation under this Plan and assuming that no Plan benefits have been paid and that
there is no domestic relations order to the contrary, Participant As Beneficiaries
shall be deemed to be his two Children, with each child being a 50% Beneficiary.)Notwithstanding any of the foregoing to the contrary, a Participant shall be treated as
having revoked all prior beneficiary designations under this Plan in the event the
Participant becomes married (or re-married following a divorce, as the case may be) and
such revocation shall be effective upon the later of (1) the date of such marriage (or
re-marriage) or (2) the date that the Committee or Administrative Committee is provided
with written notice of such marriage (or re-marriage); subject to any domestic
relations order providing that a former spouse of the Participant is to be treated as a
Beneficiary.
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(The following example illustrates the application of the preceding paragraph. Assume
the same facts as in the last example, except that after becoming divorced from Spouse
A and before Participant As death, Participant A becomes re-married to Spouse B,
that the Committee or Administrative Committee has written notice of such re-marriage,
and that there is no domestic relations order to the contrary. In this case,
Participant As beneficiary shall be deemed to be Spouse B (his spouse at the time of
his death) because Participant A shall be deemed to have revoked all prior beneficiary
designations under this Plan in connection with his re-marriage. In the absence of a
new valid and effective beneficiary designation, Participant As beneficiary is deemed
to be his or her surviving spouse as provided in the first paragraph of this
definition.)(f)
    
    Boardshall mean the Board of Directors of the Company.(g)
    
    Causewith respect to a Participant shall mean a termination of employment based
upon a finding by the Committee, acting in good faith and based on its reasonable belief
at the time, that the Participant:
 (1)
    
    has been materially negligent in the discharge of his or her duties
to the Company or a Subsidiary, repeatedly refused to perform stated or assigned
duties or is materially incompetent in or (other than by reason of a disability or
analogous condition) materially incapable of performing those duties; or(2)
    
    has committed or engaged in a material act of theft, embezzlement or
fraud; or(3)
    
    has materially breached a fiduciary duty, or willfully and materially
violated any other duty, law, rule, regulation or policy of the Company or a
Subsidiary; or has been convicted of, or plead guilty or nolo contendere to, a
felony or misdemeanor (other than minor traffic violations or similar offenses);
or(4)
    
    has materially breached any of the provisions of any agreement with
the Company or a Subsidiary; or(5)
    
    has engaged in unfair competition with, or otherwise acted
intentionally in a manner injurious to the reputation, business or assets of, the
Company or a Subsidiary;
 provided, however, that, if a cure is reasonably possible in the circumstances, no
conduct (or lack thereof) referred to above shall constitute Cause unless the
Participant shall have been given advance notice of such conduct (or lack thereof) and
a reasonable opportunity to cure such conduct (or lack thereof) and such conduct (or
lack thereof) is not timely cured. In no event shall a cure period of more than
fifteen days be required.(h)
    
    Change in Controlshall mean any change in control of the Company of a nature that
would be required to be reported in response to Item 1(a) of the Current Report on Form
10-K, as in effect on the Effective Date, pursuant to Section 13 or 15(d) of the Act;
provided that, without limitation, such a Change in Control shall be deemed to have
occurred if:
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(1)
    
    a third person, including a group as such term is used in section
13(d)(3) of the Act, becomes the beneficial owner, directly or indirectly, of 15
percent or more of the combined voting power of the Companys outstanding voting
securities ordinarily having the right to vote for the election of directors of
the Company, unless such acquisition of beneficial ownership is approved by a
majority of the Incumbent Board (as such term is defined in paragraph (2) below);
or(2)
    
    individuals who, as of July 11, 2002, constitute the Board (the
Incumbent Board) cease for any reason to constitute at least a majority of the
Board, provided that any person becoming a director subsequent to July 11, 2002,
whose election, or nomination for election by the Companys shareholders, was
approved by a vote of at least three-quarters of the directors comprising the
Incumbent Board (other than an election or nomination of an individual whose
initial assumption of office is in connection with an actual or threatened
election contest relating to the election of the directors of the Company, as such
terms are used in Rule 14a-11 of Regulation 14A promulgated under the Act) shall
be, for purposes of this provision, considered as though such person were a member
of the Incumbent Board..
 (i)
    
    Codeshall mean the Internal Revenue Code of 1986, as amended.(j)
    
    Committeeshall mean the Personnel, Compensation and Stock Plan Committee of the
Board (or a designee of that Committee).(k)
    
    Companyshall mean KB Home, and any successor thereto.(l)
    
    Disabilitywith respect to a Participant shall mean that the Participant has become
totally disabled (or the equivalent term used if totally disabled is not a defined
term) for purposes of the long-term disability plan of the Company or one of its
Subsidiaries in which the Participant participates.(m)
    
    Effective Dateshall mean the effective date of this Plan as set forth in section
1.1.(n)
    
    Eligible Personshall mean any executive employed by the Company or one of its
Subsidiaries.(o)
    
    Participantshall mean any Eligible Person who has satisfied the conditions for
participation in this Plan as set forth in sections 3.1 and 3.4.(p)
    
    Participation Agreementshall mean a written agreement in a form approved by the
Committee or Administrative Committee, and signed by a member of the Committee or by a
member of the Administrative Committee (in each case other than the Eligible Person
covered by the agreement), informing an Eligible Person of his selection by the Committee
as a participant in this Plan, containing the Eligible Persons agreement to be bound by
the terms of this Plan, and setting forth such information as may be required pursuant to
section 3.1.(q)
    
    Participation Dateshall mean the date, determined by the Committee and set forth
in the Participants Participation Agreement, that is used in determining
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whether a Participant is eligible for benefits hereunder upon or following the
Participants Separation from Service.(r)
    
    Planshall mean this KB Home Retirement Plan, as it may be amended from time to
time.(s)
    
    Subsidiaryshall mean any corporation or other entity a majority of whose
outstanding voting stock or voting power is owned, directly or indirectly, by the Company.(t)
    
    Separation from Serviceshall mean termination of services provided by a
Participant to his or her Company, whether voluntary or involuntary, as determined by the
Administrative Committee in accordance with Treasury Regulation Section 1.409A-1(h). In
determining whether a Participant has experienced a Separation from Service, the following
provisions shall apply:
 (1)
    
    For a Participant who provides services to the Company as an
employee, except as otherwise provided in part (3) of this Subsection, a
Separation from Service shall occur when such Participant has experienced a
termination of employment with the Company. A Participant shall be considered to
have experienced a termination of employment when the facts and circumstances
indicate that the Participant and the Company reasonably anticipate that either
(i) no further services will be performed for the Company after a certain date, or
(ii) that the level of bona fide services the Participant will perform for the
Company after such date (whether as an employee or as an independent contractor)
will permanently decrease to no more than 20% of the average level of bona fide
services performed by such Participant (whether as an employee or an independent
contractor) over the immediately preceding 36-month period (or the full period of
services to the Company if the Participant has been providing services to the
Company less than 36 months).If a Participant is on military leave, sick leave, or other bona fide leave
of absence, the employment relationship between the Participant and the
Company shall be treated as continuing intact, provided that the period of
such leave does not exceed 6 months, or if longer, so long as the
Participant retains a right to reemployment with the Company under an
applicable statute or by contract. If the period of a military leave, sick
leave, or other bona fide leave of absence exceeds 6 months and the
Participant does not retain a right to reemployment under an applicable
statute or by contract, the employment relationship shall be considered to
be terminated for purposes of this Plan as of the first day immediately
following the end of such 6-month period. In applying the provisions of
this paragraph, a leave of absence shall be considered a bona fide leave of
absence only if there is a reasonable expectation that the Participant will
return to perform services for the Company. For purposes of this paragraph,
where a leave of absence is due to any physical or mental impairment that
can be expected to result in death or can be expected to last for a
continuous period of not less than six months, where such
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impairment causes the Participant to be unable to perform the duties of his
or her position of employment or any substantially similar position of
employment, a 29-month period of absence shall be substituted for such
6-month period.(2)
    
    For a Participant who provides services to the Company as an
independent contractor, except as otherwise provided in part (3) of this
Subsection, a Separation from Service shall occur upon the expiration of the
contract (or in the case of more than one contract, all contracts) under which
services are performed for the Company, provided that the expiration of such
contract(s) is determined by the Committee to constitute a good-faith and complete
termination of the contractual relationship between the Participant and the
Company.(3)
    
    For a Participant who provides services to the Company as both an
employee and an independent contractor,a Separation from Service generally shall
not occur until the Participant has ceased providing services for such Company as
both as an employee and as an independent contractor, as determined in accordance
with the provisions set forth in parts (1) and (2) of this Subsection,
respectively. Similarly, if a Participant either (i) ceases providing services
for the Company as an independent contractor and begins providing services for the
Company as an employee, or (ii) ceases providing services for the Company as an
employee and begins providing services for the Company as an independent
contractor, the Participant will not be considered to have experienced a
Separation from Service until the Participant has ceased providing services for
the Company in both capacities, as determined in accordance with the applicable
provisions set forth in parts 0 and 0 of this Subsection.Notwithstanding the foregoing provisions in this part (3), if a Participant
provides services for the Company as both an employee and as a director of
the Board of the Company, to the extent permitted by Treas. Reg.
§1.409A-1(h)(5) the services provided by such Participant as a director of
the Board of the Company shall not be taken into account in determining
whether the Participant has experienced a Separation from Service as an
employee.(4)
    
    For purposes of this Subsection, services performed for the Company
shall include service performed both for the Company and for any other corporation
that is a member of the same controlled group of corporations as the Company
under Section 414(b) of the Code or any other trade or business (such as a
partnership)_that is under common control with the Company as determined under
Section 414(c) of the Code, in each case as modified by Treasury Regulation
Section 1.409A-1(h)(3) and substituting at least 50 percent for at least 80
percent each place it appears in Section 1563(a) of the Code or Treasury
Regulation Section 1.414(c)-2.
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(u)
    
    Specified Employeeshall mean any Participant who is determined to be a key
employee (as defined under Code Section 416(i) without regard to paragraph (5) thereof)
for the applicable period, as determined annually by the Committee in accordance with the
methodology specified by resolution of the Board or the Management Development and
Compensation Committee of the Board and in accordance with Treas. Reg. §1.409A-1(i).(v)
    
    Trustshall mean the legal entity organized pursuant to the Trust Agreement between
the Company and the Trustee to hold and administer the Trust Fund in which any
contributions made by the Company are to be held, invested, and disbursed to, or for the
benefit of, Participants and their Beneficiaries.(w)
    
    Trust Agreementshall mean the agreement in the nature of a trust entered into
between the Company and Trustee with respect to this Plan.(x)
    
    Trust Fundshall mean the assets of every kind and description held in the Trust
pursuant to the Trust Agreement.(y)
    
    Trusteeshall mean the entity, not affiliated with the Company, acting as the
trustee under the Trust Agreement at the time of reference.
 2.2 Gender and Number
  ARTICLE III
Participation
 3.1 Eligibility for Participation
  (1)
    
    he has been selected by the Committee and designated in writing by the
Committee as a participant in this Plan,(2)
    
    he executes his Participation Agreement and returns an original copy of such
agreement, along with such administrative and other forms as the Committee may require,
to the Committee no later than thirty (30) days after the date of his Participation
Agreement, and(3)
    
    he timely completes any other participation conditions as may be prescribed by
the Committee or Administrative Committee and set forth in the Participation Agreement
(including, without limitation, the completion and timely return of any consent to
insure forms that may be required by the Committee or Administrative Committee in the
circumstances).
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3.2 Date of Participation
  3.3 Duration of Participation
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3.4 Re-Employment
  ARTICLE IV
Supplemental Retirement Benefits
 4.1 Vesting
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4.2 Supplemental Retirement Benefits
  4.3 Commencement and Duration
  4.4 Benefits in the Event of Death
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ARTICLE V
Special Benefit Payment Rules
 5.1 Receipt and Release
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5.2 Cost-of-Living Adjustments
  ARTICLE VI
Change in Control
 6.1 Full Vesting and Lump Sum Payment Upon Change in Control
  6.2 Amount of Lump Sum Benefit
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ARTICLE VII
Trust
 7.1 Establishment of the Trust
   7.2 Contributions
  7.3 Payment of Benefits
  ARTICLE VIII
Administration
 8.1 Administration
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8.2 Decisions and Actions of Committee
  8.3 Rules and Records of the Committee
  8.4 Employment of Agents
  8.5 Agent for Service of Legal Process
  8.6 Plan Expenses
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8.7 Indemnification
  8.8 Tax Withholding
  8.9 Claims Procedure
 (a)
    
    Submission of Claims. Claims for benefits under this Plan and any Participation
Agreement shall be submitted in writing to the Committee or to an individual designated by
the Committee for this purpose.(b)
    
    Denial of Claim. If any claim for benefits is wholly or partially denied, the
claimant shall be given written notice within 60 days following the date on which the
claim is filed, which notice shall set forth 3⁄4
 (1)
    
    the specific reason or reasons for the denial;(2)
    
    specific reference to pertinent Plan and Trust provisions on which
the denial is based;(3)
    
    a description of any additional material or information necessary for
the claimant to perfect the claim and an explanation of why such material or
information is necessary; and(4)
    
    an explanation of this Plans claim review procedure.
 If the claim has not been granted, and if written notice of the denial of the claim
is not furnished within 60 days following the date on which the claim is filed, the
claim shall be deemed denied for the purpose of proceeding to the claim review
procedure.
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(c)
    
    Claim Review Procedure. The claimant or his authorized representative shall have 60
days after receipt of written notification of denial of a claim to request a review of the
denial by making written request to the Committee (or its delegate), and may review
pertinent documents and submit issues and comments in writing within such 60-day period.
Not later than 60 days after receipt of the request for review, the Committee shall render
and furnish to the claimant a written decision which shall include specific reasons for
the decision, and shall make specific references to pertinent Plan and Trust provisions on
which it is based. The Committee decision shall only be subject to further review as
described in section 9.7. If a decision on review is not furnished to a claimant within
the specified time period, the claim shall be deemed to have been denied on review.
 ARTICLE IX
Miscellaneous
 9.1 Rights Against the Company
  9.2 Rights Under the Companys Other Retirement Plans
  9.3 Payment of Benefits to Incompetent
  (a)
    
    a person entitled to receive any benefit under this Plan is legally, physically, or
mentally incompetent to receive such benefit and to give a valid release therefore, and(b)
    
    another person or an institution is then maintaining or has custody of such person
and no guardian, committee, or other representative of the estate of such person has been
duly appointed by a court of competent jurisdiction,
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9.4 Missing Person
  9.5 Amendment or Termination
  9.6 Merger or Consolidation of Plan and Trust
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9.7 Arbitration/Interest on Unpaid Amounts/Controlling Law
 (a)
    
    A Participant or Beneficiary may further appeal pursuant to this section a
Committee decision under section 8.9(b) on his appeal. The Participant or Beneficiary
may submit the controversy to final and binding arbitration pursuant to the then most
applicable Rules of the American Arbitration Association; provided, however, that unless
the parties otherwise agree, the arbitration shall be before a single arbitrator
selected either by mutual agreement or, failing agreement, from a list of seven
arbitrators provided by AAA, (1) four of whom shall be retired judges of the Superior or
Appellate Courts of California who are residents of Los Angeles or Orange County and, if
such list exists at the time of the dispute, who are members of the Independent List of
Retired Judges, and (2) three of whom shall be members of the National Academy of
Arbitrators, resident in Los Angeles or Orange Counties. In the event the parties are
unable to agree upon such an arbitrator from such list of seven, each party shall strike
one name in turn with the first to strike being chosen by lot. When only one name
remains, that person shall be the parties arbitrator. The parties hereto expressly
waive their rights, if any, to have such matters heard by a jury or a judge, whether in
state or federal court. The cost of the arbitration, including, but not limited to, any
reasonable legal fees or other expenses incident thereto incurred in connection with
such arbitration, shall be borne by the Company unless the arbitrators(s) determines
that the Participants or Beneficiarys claim is frivolous, in which case the
Participant or Beneficiary shall bear his own legal fees. In the arbitration the
Committees decision on appeal shall not be entitled to a presumption of correctness;
rather, the dispute shall be decided de novo.(b)
    
    The Company agrees to pay interest on any amounts payable to a Participant or
Beneficiary under this Plan which are not paid within 30 days after the date when due
and on any money judgment which is awarded to the Participant or Beneficiary following a
proceeding to enforce any portion of this Plan from the date that payments should have
been made under this Plan. Such interest shall be calculated at the prime rate offered
by Bank of America, or its successor, from the date that payments should have been made
under this Plan to the time of actual payment.(c)
    
    The provisions of this Plan shall be construed, interpreted, administered, and
enforced according to applicable federal law and the laws of the State of California,
without giving effect to conflict of laws principals thereunder and to the extent not
preempted by federal law.
 9.8 Rights to Trust Fund Assets
  9.9 Nontransferability
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9.10 Illegality of Particular Provision
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