ELEVENTH AMENDMENT TO EMPLOYMENT AGREEMENT

Exhibit 10.80

ELEVENTH AMENDMENT   TO EMPLOYMENT   AGREEMENT

This Eleventh Amendment to Employment Agreement (the “Eleventh Amendment”) is made and entered into as of August 1, 2006 by and between Kennedy-Wilson Properties, Ltd., an Illinois corporation (“The Company”) a wholly owned subsidiary of Kennedy-Wilson Inc. a Delaware corporation, having an address of 9601 Wilshire Boulevard, Suite 220, Beverly Hills, California 90210, (“Company”), and James Rosten, an individual (“Employee”).

RECITALS

WHEREAS, Company and Employee have entered into that certain Employment Agreement dated as of January 4, 1999, and amended January 1, 2001, March 15, 2001, January 3, 2003, September 5, 2003, October 1, 2003, January 1, 2004, April 19, 2004, January 1, 2005, February 11, 2005, and January