2006 Incentive Compensation Program Agreement for Jeffrey Croft with Dominion Homes, Inc.
This agreement outlines the 2006 incentive compensation program for Jeffrey Croft, President and COO of Dominion Homes, Inc. It specifies bonus amounts based on the company's net income, corporate debt reduction, and customer satisfaction, with each category contributing to the total bonus. The agreement guarantees Mr. Croft a minimum bonus of $250,000 for the year, with higher payouts possible if certain performance targets are met.
Exhibit 10.2
Dominion Homes, Inc.
2006 Incentive Compensation Program
Jeffrey Croft, President and COO
Net Income (40% of Total)
| Goal | Award | ||
| Target | $ | 48,000 | |
| Stretch | $ | 120,000 | |
| Exceptional | $ | 200,000 | |
Corporate Debt Management (40% of Total)
| Goal | Award | ||
| 100% of Target Debt Reduction | $ | 48,000 | |
| 133% of Target Debt Reduction | $ | 120,000 | |
| 166% of Target Debt Reduction | $ | 200,000 | |
Customer Satisfaction (20% of Total)
| Goal | Award | ||
| 94% | $ | 24,000 | |
| 95% | $ | 60,000 | |
| 96% | $ | 100,000 | |
Mr. Croft will be entitled to receive a guaranteed minimum bonus for 2006 of $250,000.
