Description of Compensation Arrangements with David Howell, Vice President – Market Development, Comstock Homebuilding Companies, Inc.
This document outlines the compensation arrangements for David Howell, Vice President of Market Development at Comstock Homebuilding Companies, Inc. For the year ending December 31, 2004, Mr. Howell received a base salary of $150,000 and an additional $150,000 incentive bonus based on performance objectives. He was also granted 12,500 shares of restricted Class A common stock under the company's 2004 Long-Term Incentive Compensation Plan, with a two-year vesting period for the shares.
Exhibit 10.31
Description of Arrangements with David Howell
Mr. Howell serves as Vice President – Market Development of Comstock Homebuilding Companies, Inc. (the “Company”). For the year ended December 31, 2004, Mr. Howell received $150,000 in base salary. Furthermore, he received incentive bonus in the amount of $150,000, tied to his meeting specific performance objectives. Pursuant to the Company’s 2004 Long-Term Incentive Compensation Plan, on December 14, 2004, Mr. Howell received a restricted stock grant of 12,500 shares of the Company’s Class A common stock, which shares have a two year vesting period.
