Kohl's chairman receives stock options after clerical error - 20 Nov 2008

Nov 20, 2008 (Milwaukee Journal Sentinel - McClatchy-Tribune Information Services via COMTEX) --
KSS | Quote | Chart | News | PowerRating -- Kohl's Corp. chairman Larry Montgomery has received a corrective stock option
grant of 250,000 shares to compensate him from an estimated $5 million
loss he suffered through an error by the company's human resources
staff.

The award was disclosed Wednesday in a filing with the
Securities and Exchange Commission. In the document, the company said
the staff failed to notify Montgomery in 2004 that 120,000 of his
vested stock options were about to expire. As a result, the options, valued at $5 million at the time, expired without his knowledge.

The exercise price of the corrective options is $27.45 per share, which was the closing stock price on Monday. They will expire on Nov. 17, 2015, regardless of whether Montgomery is still working for the company.

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