Notice of Performance Unit GrantPerformance Unit Grant Agreement • March 31st, 2010 • Kennedy-Wilson Holdings, Inc. • Real estate
The number of Performance Units you will receive under the Agreement, if any, will be determined as follows. First, the Company’s Compensation Committee (the “Committee”) will compute the 2010 Company Bonus Pool (the “Bonus Pool”). Second, the Committee will determine the maximum number of your Performance Units by multiplying the Bonus Pool by 10%. By way of illustration, if your percentage of the Bonus Pool has a value equal to $1 million, you would be entitled to a maximum of 1,000,000 Performance Units. As provided in Section 17.8 of the Plan, in no event may your Performance Units exceed $10 million. Finally, in its complete discretion, the Committee shall determine the actual number of Performance Units to which you shall be entitled, which may be any lesser number (including 0) that the Committee determines. You will thereupon receive a cash payment from the Company, equal to the product of $1.00 multiplied by the number of Performance Units awarded to you, if any, which amount
