Document:

Form of Stock Option Agreement

 Exhibit 10.14 
 KB HOME 
 2001 STOCK INCENTIVE PLAN 

STOCK OPTION AGREEMENT 
 This agreement dated the [    ] day of [            ] 

WITNESSETH: 
 1.
Pursuant to the provisions of the KB HOME 2001 Stock Incentive Plan (the “Plan”), KB HOME (the “Company”) on the date set forth above has granted to
[                    ] (the “Optionee”), an option (the “Option”) to purchase from the Company an aggregate of
[                ] shares of Common Stock, $1.00 par value, of the Company (“Common Stock”), at the purchase price of
$[            ] per share, the Option to be exercisable as hereinafter provided. A copy of the prospectus describing the Plan is attached hereto and made a part hereof. 

2. Subject to the terms and conditions of the Plan and action taken pursuant to the Plan, both of which may modify the terms hereof, the
shares may be purchased in accordance with the following schedule. If the Optionee is employed by the Company or its subsidiaries on the date indicated: 
  

					
	 On or After
	  	 	  	Shares Subject to Purchase
	
[                    
]
	  		  	33 1/3% of Grant
	
[                    
]
	  	an additional	  	33 1/3% of Grant
	
[                    
]
	  	an additional	  	33 1/3% of Grant

 Notwithstanding the foregoing, upon (i) a Change of Ownership of the Company (as defined in the Plan) or
(ii) upon the Optionee’s Retirement (as hereinafter defined), the entire Option granted hereunder shall vest and become immediately exercisable. 
 Any exercise of the Option shall be made by giving the Company written notice of exercise specifying the number of shares to be purchased. The notice of exercise shall be accompanied by tender to the
Company of cash, or its equivalent, or of shares of the Company stock owned by the Optionee (which are not the subject of any pledge or other security interest), or of a combination of the foregoing, provided that the combined value of all such cash
and cash equivalents and the fair market value of any such stock so tendered to the Company, valued as of the date of such tender, is equal to the full purchase price of said shares plus the related amount of any taxes required to be withheld by the
Company in connection with such exercise, to the extent such withholding taxes are then ascertainable. If the amount of such taxes is not ascertainable at the time of the notice of exercise, such amount shall be tendered by the Optionee to the
Company as soon as the same shall become ascertainable and shall be communicated to the Optionee by the Company. 
 “Retirement” shall
mean severance from employment with the Company or its Subsidiaries for any reason other than a leave of absence, termination for cause, death or disability at such time as the sum of the Optionee’s age and years of service with the Company or
its Subsidiaries equals at least sixty-five (65) or more, provided that Optionee is then at least fifty-five (55) years of age. Whether Optionee’s severance from employment with the Company results from disability or termination for
cause shall be determined solely by the Company in its discretion. 

 3. Without limiting the generality of paragraph 1 hereof, it is understood and agreed that
the Option is subject to the following conditions: 
 (a) the Option shall in any event cease to be exercisable and shall expire
and terminate to the extent not exercised on the earlier of (1) the close of business on [                    ]; (2) 90 calendar
days after the termination of the Optionee’s employment with the Company or its subsidiaries for any reason other than for cause (as determined by the Company) or Retirement; (3) the date specified in subparagraph (a)(1) of this paragraph
3 in the event of Optionee’s Retirement, or (4) five (5) calendar days after the date of Optionee’s termination of employment if Optionee’s employment is terminated for cause (as determined by the Company). 

(b) the Option shall not be transferred except to a “family member” (as such term is defined in the applicable rules of the
Securities and Exchange Commission relating to the Registration Statement under which the shares underlying the Options are registered) in accordance with such procedures as may be established by the Company from time to time, or by will or the laws
of descent and distribution and, during the lifetime of the Optionee, shall be exercised only by the Optionee, unless the Option has transferred to a “family member” as contemplated herein. No transfer to a “family member” as
contemplated herein shall be effective unless Optionee and Optionee’s designated transferee(s) complies with all procedures established by the Company from time to time for effecting such transfer, including signing an agreement to that effect;
and 
 (c) neither the Optionee nor any legal representative, legatee, or distributee of the Optionee shall be deemed to be a
holder of or possess any stockholder rights with respect to any shares subject to the Option prior to the issuance of such shares upon exercise of the Option. 
 Notwithstanding subparagraph (a) of this paragraph, in the event of the death of the Optionee (i) while the Optionee is employed by the Company or its Subsidiaries, (ii) on or before 90
days after the Optionee’s employment with the Company or its Subsidiaries ceases for any reason other than cause (as determined by the Company) or Optionee’s Retirement, or (iii) in the event of Optionee’s Retirement prior to the
date set forth in subparagraph (a)(1) of this paragraph, then in each such event the Option herein will terminate on the earlier of (i) one year from the date of death or (ii) the date specified in subparagraph (a)(1) of this paragraph 3.

 4. Neither the execution and delivery hereof nor the granting of the Option shall constitute or be evidence of any agreement
or understanding, express or implied, on the part of the Company or any of its subsidiaries to employ or continue the employment of the Optionee for any period. 
 5. In the event of any merger, reorganization, consolidation, recapitalization, stock dividend, or other change in corporate structure affecting the Common Stock of the Company, such adjustment shall be
made in the number and option price of the shares subject to the Option as may be determined to be appropriate by the Committee. 
 6. The Optionee agrees that prior to any sale of the shares purchased pursuant to the Option, the Optionee will notify the Company in order to enable it to take any steps required by the Securities Act of
1933 in connection with such sale and further agrees that he will not complete any such sale until he has been advised by the Company that such steps have been taken. 
 7. This Option grant is made subject to all of the terms and conditions of the Plan, a copy of which is available to the Optionee upon request, including any terms, rules, or determinations made by the
Committee (as defined in the Plan), pursuant to its administrative authority under the Plan and such further terms as are set forth in the Plan that are applicable to awards thereunder, including without

  
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limitation provisions on adjustment of awards, non-transferability, satisfaction of tax requirements and compliance with other laws. Capitalized terms used in this Agreement and not defined
herein have the meaning set forth in the Plan. 
 8. The Company may impose such restrictions, conditions or limitations as it
determines appropriate as to the timing and manner of any resales by the Optionee or other subsequent transfers by the Optionee of any shares of common stock issued as a result of the exercise of this Option, including without limitation
(a) restrictions under an insider trading policy, (b) restrictions designed to delay and/or coordinate the timing and manner of sales by Optionee and other optionholders following a public offering of the Company’s common stock and
(c) restrictions as to the use of a specified brokerage firm for such resales or other transfers. 
 9. Any notice given
hereunder to the Company shall be addressed to the Company, attention Senior Vice President, Human Resources, and any notice given hereunder to the Optionee shall be addressed to him at his address as shown on the records of the Company. 

10. The Optionee agrees to be bound by the terms and conditions hereof and of the Plan; and, in the event of any conflict in terms
between this Agreement and the terms of the Plan, the terms of the Plan shall prevail. 
 11. This Agreement shall be construed,
administered and enforced in accordance with the laws of the State of California. This Agreement and the grant of Options evidenced hereby shall be subject to rescission by the Company if an executed original of this Agreement is not received by the
Company within 90 days of its transmittal to the Optionee. 
 IN WITNESS WHEREOF, the Company, by its duly authorized officer,
and the Optionee have executed this Agreement as of the day and year first above written. 
  

	
	 KB HOME

	
	 By:

	
	 OPTIONEE:

	
	 By:

  
 3Form of Stock Restriction Agreement

 Exhibit 10.15 
 KB HOME 
 2001 STOCK INCENTIVE PLAN 

STOCK RESTRICTION AGREEMENT 
 THIS STOCK RESTRICTION AGREEMENT (this “Agreement”) is made as of
[                    ] (herein the “Effective Date”) by and between KB HOME, a Delaware corporation (the “Company”) and
[                    ] (the “Participant”). 
 R E C I T A L S 
 By action of the Management Development and Compensation
Committee (the “Committee”) taken on [                    ] (the “Committee Action”), the Company desires to award the
Participant shares of restricted common stock of the Company, par value $1.00 per share (“Stock”) under the 2001 Stock Incentive Plan (the “Plan”). 
 A G R E E M E N T 
 In consideration of the provisions contained in this Agreement
and with reference to the foregoing Recitals, the Company and the Participant agree as follows: 
 1. Award. As of the
Effective Date, the Company shall issue to the Participant [                    ] shares of Stock (the “Award”), subject to the
terms and conditions set forth in this Agreement, the Plan, and the Committee Action. The certificate(s) representing shares of Stock granted pursuant to the Award shall not be delivered to the Participant until the lapse of the restrictions on
transferability in accordance with Paragraphs 2, 4 and 5 of this Agreement. Prior to such lapse, the certificate(s) shall be held by the Company in escrow pursuant to Section 7(d) of the Plan along with a stock power duly endorsed in blank by
the Participant. 
 2. Lapse of Restrictions. The restrictions imposed by this Agreement and the Plan with respect to the
shares covered by this Award shall lapse on the business day next following the third anniversary of the Effective Date. Subject to the exceptions set forth in section 4 below, the restrictions imposed by this Agreement shall lapse only if
Participant continues to be employed by the Company on the third anniversary of the Effective Date. 
 3. Parties’
Obligations. Following the lapse of restrictions, the Company shall deliver to the Participant as soon as practicable certificate(s) representing those shares as to which restrictions have lapsed in accordance with Paragraphs 2, 4 or 5, as the
case may be. 
 4. Termination of Employment. Except as set forth in Paragraph 5 below, upon termination of the
Participant’s employment with the Company by the Company for “Cause” (as determined by the Company) or by the Participant without “Good Reason” (as determined by the Company), the Participant’s right, title and interest
in those shares granted pursuant to the Award as to which the restrictions shall not have lapsed at the time of such termination of employment shall immediately terminate. The Participant shall forthwith execute such further assignments or
endorsements as the Company may require to effect the transfer of beneficial ownership to those shares granted pursuant to the Award back to the KB HOME Grantor Stock Trust (the “Trust”), if the shares were issued to Participant out of the
Trust and the Trust continues to exist at such time, or otherwise back to the Company. Notwithstanding the other provisions of this Section 4, upon the termination of the Participant’s

 
employment with the Company by reason of the Participant’s Retirement (as hereinafter defined); the restrictions set forth herein and Section 7 of the Plan shall lapse immediately upon
such termination of employment. “Retirement” shall mean severance from employment with the Company for any reason other than a leave of absence, termination for cause (as determined by the Company) death or disability at such time as the
sum of the Participant’s age and years of service with the Company equals at least sixty-five (65) or more, provided that the employee is then at least fifty-five (55) years of age. Whether severance from employment results from the
disability of Participant results from disability or termination for cause shall be determined solely by the Company in its discretion. 
 5. Lapse of Restrictions Upon Change of Ownership. Notwithstanding any provision of Paragraph 2, but subject to Paragraph 4, all of the restrictions set forth herein and in Section 7 of the
Plan on the shares of Stock granted under this Award shall lapse upon a Change of Ownership, as defined under the Plan. 
 6.
Dividends. Cash dividends or other distributions paid on or in respect of any shares of Stock subject to the Award shall be paid directly to Participant at the same time any such dividends or distributions are paid to holders of shares of
Stock that are not restricted and are freely tradeable (“Other Holders”). Any stock or other non-cash distributions issued on or in respect of any shares of Stock subject to the Award shall be issued at the same time any such distributions
are issued to Other Holders, but shall be held in escrow and shall be subject to the same restrictions as the shares of Stock subject to the Award. 
 7. Tax Withholding Election. At Participant’s discretion, he may direct the Company to withhold shares of Stock otherwise deliverable upon the lapse of restrictions on the Award to satisfy any
withholding tax liability that may arise upon such lapse of restrictions, provided that such Stock withholding complies with Section 16(b) of the Securities Exchange Act of 1934, as amended, and the rules promulgated thereunder. 

8. Adjustments. The number of shares granted pursuant to the Award shall be adjusted by the Board, whose determination shall be
conclusive, to reflect any stock split, stock dividend, reorganization, recapitalization, merger, consolidation, combination or exchange of shares or similar event. 
 The Committee shall make any adjustments or modifications, and its determination thereof shall be conclusive, in the lapse of restrictions set forth in Section 2 or Section 5 to give effect to
the intent of the Plan and the Committee Action in connection with any event affecting the Award, including without limitation, any reorganization, recapitalization, merger, consolidation, offering of additional shares of common stock or other
change in the Company’s shareholders’ equity by means other than earnings, or any similar event. No such adjustment shall be made if it would reduce the benefits otherwise accruing to the Participant under this Award. 

9. No Assignment. This Agreement may not be assigned by the Participant by operation of law or otherwise. Notwithstanding, this
Agreement shall be binding upon and shall inure to the benefit of the personal representatives, heirs, legatees, successors and assigns of the Company and the Participant. 
 10. Governing Law. This Agreement and the legal relations between the parties shall be governed by and construed in accordance with the laws of the State of California. 

11. Conflict in Terms. In the event there shall be a conflict in terms between this Agreement, the Plan, and/or the Committee
Action, the terms of the Plan shall prevail. 

  
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 IN WITNESS WHEREOF, the Company and the Participant have duly executed and delivered this
Agreement as of the date first above written. 
  

	
	 KB HOME

	
	 By:

	
	 PARTICIPANT:

	
	 By:

  
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