UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of The Securities Exchange Act of 1934
August
17, 2005
Date
of Report (Date of earliest event reported)
LENNAR
CORPORATION
(Exact
name of registrant as specified in its charter)
| |
|
|
|
Delaware
|
1-11749
|
95-4337490
|
|
(State
or other jurisdiction of
incorporation)
|
(Commission
File Number)
|
(IRS
Employer Identification
No.)
|
700
Northwest 107th
Avenue, Miami, Florida 33172
(Address
of principal executive offices) (Zip Code)
(305)
559-4000
(Registrant’s
telephone number, including area code)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act
(17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act
(17 CFR 240.13e-4(c))
Item
1.01. Entry
into a Material Definitive Agreement.
On
August
17, 2005, Stuart Miller, the President and Chief Executive Officer of Lennar
Corporation (“Lennar”), entered into a Time Sharing Agreement (the “Agreement”)
with U.S. Home Corporation, a wholly-owned subsidiary of Lennar (the “Company”),
relating to the use by Mr. Miller of a private aircraft, which is leased
by the
Company. The description of terms of the Agreement included in this document
is
qualified in its entirety by reference to the Agreement, which is filed as
an
exhibit to this document.
The
Agreement provides that the Company may sub-lease the aircraft and its flight
crew to Mr. Miller for non-business purposes. Under the Agreement, Mr. Miller
will pay to the Company, out of a prepayment fund established in connection
with
this Agreement, the aggregate incremental cost of each flight based
on a
list of expenses authorized by federal regulations. The Company has entered
into
an aircraft management agreement pursuant to which the management company
will
provide the aircraft with a fully qualified flight crew. The flight crew
retains
sole discretion to determine when a flight may be terminated or changed for
safety or maintenance reasons. The Company retains sole discretion to determine
what flights may be scheduled, and the Company’s prior planned use of the
aircraft will take precedence over Mr. Miller’s non-business use.
Item
9.01. Financial Statements and Exhibits.
(c)
Exhibits.
The
following exhibit is filed as part of this Current Report on Form 8-K.
Exhibit
No. Description
of Document
10.1
Aircraft
Time Sharing Agreement, dated August 17, 2005, between U.S. Home Corporation
and
Stuart Miller.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Date:
August 23, 2005
LENNAR
CORPORATION
By:
/s/
Waynewright Malcolm
Name:
Waynewright Malcolm
Title:
Vice
President and Tresurer
Exhibit
Index
Exhibit
No. Description
of Document
10.1
Aircraft
Time Sharing Agreement, dated August 17, 2005, between U.S. Home Corporation
and
Stuart Miller.