Dominion Homes, Inc. 2005 Incentive Compensation Program for Corporate Executive Vice President, Senior Vice President of Finance and CFO

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

Dominion Homes, Inc. established a 2005 Incentive Compensation Program for its Corporate Executive Vice President, Senior Vice President of Finance, and CFO. The program sets specific financial and performance goals, including net income targets, customer satisfaction rates, and departmental or divisional objectives. Bonus awards are tied to achieving these goals, with higher payouts for exceeding targets. All three departmental objectives must be met for the maximum payout, with reduced awards for partial achievement. The program clearly defines the performance criteria and corresponding compensation amounts for the year.

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EX-10.3 4 dex103.htm 2005 INCENTIVE COMPENSATION PROGRAM 2005 Incentive Compensation Program

Exhibit 10.3

 

Dominion Homes, Inc.

2005 Incentive Compensation Program

Corporate Executive Vice President, Senior Vice President of Finance and CFO

 

 

Net Income:       

Goal

    Award

100% of Target Net Income

    $ 75,000

180% of Target Net Income

    $ 187,500

300% of Target Net Income

    $ 300,000

 

 

Customer Satisfaction:       

Goal

    Award

94%

    $ 12,500

95%

    $ 25,000

96%

    $ 37,500

 

Departmental/Divisional Performance:       

Goal

    Award*

100% target division net income achieved

    $ 12,500

100% target asset management achieved

    $ 12,500

100% of individual objectives achieved

    $ 12,500
* Total departmental/divisional performance target level is $37,500. All three objectives must be achieved to receive $37,500 payout. Two of three objectives achieved would yield a $25,000 payout, one objective achieved would yield $12,500 payout.