Document:

Exhibit 10.57

 

SIXTH AMENDMENT TO

EMPLOYMENT AGREEMENT

 

This
Sixth Amendment to Employment Agreement (the “Sixth Amendment”) is made and
entered into as of January 1, 2001, by and between KENNEDY-WILSON, INC., a
Delaware corporation with its principal office located in Beverly Hills,
California (the “Company”), and Freeman A. Lyle, Jr., an individual (“Employee”).

 

RECITALS

 

WHEREAS,
Company and Employee have entered into that certain Employment Agreement dated
as of April 1, 1996, and amended April 1, 1997, April 1, 1998, April 1,
1999, and April 1, 2000 (the “Agreement”), providing for the employment of
Employee by Company pursuant to the terms of such Agreement; and

 

WHEREAS,
Company and Employee have agreed that the terms of the Employment Agreement
should be modified to change the Term of Employment.

 

AMENDMENT
TO AGREEMENT

 

NOW, THEREFORE, for good and
valuable consideration the receipt and sufficiency of which are hereby
acknowledged, the parties hereby amend the Agreement, effective as of January 1,
2001 as follows:

 

1.                                     The term of
this Agreement is extended to December 31, 2001. Therefore, Section 2
of the Agreement is amended such that the termination date of “December 31,
2000 “is deleted and the termination date of “December 31, 2001” is
inserted in lieu thereof.

 

Subject to the foregoing,
the Employment Agreement remains in full force and effect, and Company and
Employee hereby ratify and affirm the Employment Agreement in each and every
respect.

 

IN
WITNESS WHEREOF, the undersigned have executed this Fourth Amendment as of the
date first above written.

 

	
   

  	
  “COMPANY”

  
	
   

  	
  KENNEDY-WILSON,
  INC.

  
	
   

  	
  A
  Delaware Corporation

  
	
   

  	
   

  
	
   

  	
  By:
  

  	
  /s/
  William J. McMorrow

  
	
   

  	
   

  	
  Chief
  Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
  “EMPLOYEE”

  
	
   

  	
  /s/ Freeman Lyle, Jr.Exhibit 10.58

 

SEVENTH
AMENDMENT TO

EMPLOYMENT
AGREEMENT

 

This
Seventh Amendment to Employment Agreement (the “Seventh Amendment”) is made and
entered into as of March 28, 2001, by and between KENNEDY-WILSON, INC., a
Delaware corporation with its principal office located in Beverly Hills,
California (the “Company”), and Freeman A. Lyle, Jr., an individual (“Employee”).

 

RECITALS

 

WHEREAS, Company and
Employee have entered into that certain Employment Agreement dated as of April 1,
1996, and amended April 1, 1997, April 1, 1998, April 1, 1999, April 1,
2000, and January 1, 2001 (“Agreement”), providing for the employment of
Employee by Company pursuant to the terms of such Agreement; and

 

WHEREAS, Company and
Employee have agreed that the terms of the Employment Agreement should be
modified to change the Term of Employment.

 

AMENDMENT
TO AGREEMENT

 

NOW, THEREFORE, for good and
valuable consideration the receipt and sufficiency of which are hereby
acknowledged, the parties hereby amend the Agreement, effective as of March 28,
2001 as follows:

 

1.                                     The term of
this Agreement is extended to December 31, 2002. Therefore, Section 2
of the Agreement is amended such that the termination date of “December 31,
2001 “ is deleted and the termination date of “December 31, 2002” is
inserted in lieu thereof.

 

2.                                     Section 4 (iii) is
deleted in its entirety and the following is added in lieu thereof:

 

Section 4
(iii) A one time signing bonus’ of $250,000. shall be paid to Employee.
$150,000. to be paid upon execution of this Amendment and $100,000. to be paid
no later than 12-15-01.

 

Subject to the foregoing,
the Employment Agreement remains in full force and effect, and Company and
Employee hereby ratify and affirm the Employment Agreement in each and every
respect.

 

IN
WITNESS WHEREOF, the undersigned have executed this Fourth Amendment as of the
date first above written.

 

 

IN
WITNESS WHEREOF, the undersigned have executed this Fourth Amendment as of the
date first above written.

 

	
   

  	
  “COMPANY”

  
	
   

  	
  KENNEDY-WILSON,
  INC.

  
	
   

  	
  A
  Delaware Corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  William J. McMorrow

  
	
   

  	
   

  	
  Chief
  Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
  “EMPLOYEE”

  
	
   

  	
  /s/ Freeman Lyle, Jr.Exhibit 10.59

 

EIGHTH
AMENDMENT TO

EMPLOYMENT
AGREEMENT

 

This
Eighth Amendment to Employment Agreement (“Eighth Amendment”) is made and
entered into as of September 1, 2002, by and between KENNEDY-WILSON, INC.,
a Delaware corporation with its principal office located in Beverly Hills,
California (the “Company”), and Freeman A. Lyle, Jr., an individual (“Employee”).

 

RECITALS

 

WHEREAS, Company and
Employee have entered into that certain Employment Agreement dated as of April 1,
1996, and amended April 1, 1997, April 1, 1998, April 1, 1999, April 1,
2000, January 1, 2001, and March 28, 2001 (“Agreement”), providing
for the employment of Employee by Company pursuant to the tents of such
Agreement; and

 

WHEREAS, Company and
Employee have agreed that the tents of the Employment Agreement should be
modified to change the Term of Employment.

 

AMENDMENT
TO AGREEMENT

 

NOW, THEREFORE, for good and
valuable consideration the receipt and sufficiency of which are hereby
acknowledged, the parties hereby amend die Agreement, effective as of September 1,
2002 as follows:

 

1.                                     The term of
this Agreement is extended to December 31, 2003. Therefore, Section 2
of the Agreement is amended such that the termination date of “December 31,
2002” is deleted and the termination date of “December 31, 2003” is inserted in
lieu thereof.

 

2.                                     Section 4 (i) of
the Agreement is amended such that Employee’s salary effective September 1,
2002 is equal to $300,000 per annum payable on such basis as is the normal
payment pattern of the Company, not to be less frequently than monthly.

 

Subject to the foregoing,
die Employment Agreement remains in full force and effect, and Company and
Employee hereby ratify and affirm the Employment Agreement in each and every
respect.

 

 

IN
WITNESS WHEREOF, the undersigned have executed this Fourth Amendment as of the
date first above written.

 

	
   

  	
  “COMPANY”

  
	
   

  	
  KENNEDY-WILSON,
  INC.

  
	
   

  	
  A
  California Corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  William J. McMorrow

  
	
   

  	
   

  	
  Chief
  Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
  “EMPLOYEE”

  
	
   

  	
  /s/ Freeman Lyle, Jr.Exhibit 10.60

 

NINTH
AMENDMENT TO

EMPLOYMENT
AGREEMENT

 

This Ninth Amendment to
Employment Agreement (the “Ninth Amendment”) is made and entered into as of October 1,
2003, by and between KENNEDY-WILSON, INC., a Delaware corporation with its
principal office located in Beverly Hills, California (the “Company”), and
Freeman A. Lyle, Jr., an individual (“Employee”).

 

RECITALS

 

WHEREAS, Company and Employee have entered into that
certain Employment Agreement dated as of April 1, 1996, and amended April 1,
1997, April 1, 1998, April 1, 1999, April 1, 2000, January 1,
2001, March 28, 2001, and September 1, 2002 (“Agreement”), providing
for the employment of Employee by Company pursuant to the terms of such
Agreement; and

 

WHEREAS, Company and Employee have agreed that the terms of
the Employment Agreement should be modified to change the Salary.

 

NOW,
THEREFORE, for good and valuable consideration the receipt
and sufficiency of which are hereby acknowledged, the parties hereby amend the
Agreement, effective as of October 1, 2003 as follows:

 

1.                Section 4 (i) of
the Agreement is amended such that Employee’s salary effective October 1,
2003 is equal to $325,000 per annum payable on such basis as is the normal
payment pattern of the Company, not to be less frequently than monthly.

 

Subject to the foregoing,
the Employment Agreement remains in full force and effect, and Company and
Employee hereby ratify and affirm the Employment Agreement in each and every
respect.

 

IN WITNESS WHEREOF, the
undersigned have executed this Ninth Amendment as of the date first above
written.

 

	
   

  	
  COMPANY”

  
	
   

  	
  KENNEDY-WILSON,
  INC.

  
	
   

  	
  A
  Delaware Corporation

  
	
   

  	
   

  
	
   

  	
  By:
  

  	
  /s/
  William J. McMorrow

  
	
   

  	
   

  	
  Chief
  Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
  “EMPLOYEE”

  
	
   

  	
  /s/ Freeman Lyle, Jr.Exhibit 10.61

 

TENTH
AMENDMENT TO EMPLOYMENT AGREEMENT

 

This Tenth Amendment to
Employment Agreement (the “Tenth Amendment”) is made and entered into as of January 1,
2004, by and between KENNEDY-WILSON, INC., a Delaware corporation with its
principal office located in Beverly -Hills, California (the “Company”), and
Freeman A. Lyle, Jr., an individual (“Employee”).

 

RECITALS

 

WHEREAS, Company and
Employee have entered into that certain Employment Agreement dated as of April 1,
1996, and amended April 1, 1997, April 1, 1998, April 1, 1999, April 1,
2000, January 1, 2001, March 28, 2001, September 1, 2002, and October 1,
2003 (“Agreement”), providing for the employment of Employee by Company
pursuant to the terms of such Agreement; and

 

WHEREAS, Company and
Employee have agreed that the terms of the Employment Agreement should be
modified to change the Term of Employment.

 

AMENDMENT TO AGREEMENT

 

NOW, THEREFORE, for good and valuable
consideration the receipt and sufficiency of which are hereby acknowledged, the
parties hereby amend the Agreement, effective as of January 1, 2004 as
follows:

 

1.              The Term of the
Agreement is extended until December 31, 2004. Therefore, Section 2
of the Agreement is amended such that the termination date of “December 31,
2003” is deleted and the termination date of “December 31, 2004” is
inserted in lieu thereof.

 

Subject to the foregoing,
the Employment Agreement remains in full force and effect, and Company and
Employee hereby ratify and affirm the Employment Agreement in each and every
respect.

 

IN WITNESS WHEREOF, the undersigned have
executed this Tenth Amendment as of the date first above written.

 

	
   

  	
  COMPANY”

  
	
   

  	
  KENNEDY-WILSON,
  INC.

  
	
   

  	
  A
  California Corporation

  
	
   

  	
   

  
	
   

  	
  By:
  

  	
  /s/
  William J. McMorrow

  
	
   

  	
   

  	
  Chief
  Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
  “EMPLOYEE”

  
	
   

  	
  /s/ Freeman Lyle, Jr.

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