2006 Incentive Compensation Program Agreement between Dominion Homes, Inc. and William G. Cornely
Dominion Homes, Inc. has established a 2006 incentive compensation program for William G. Cornely, its Senior Vice President of Finance and CFO. The agreement outlines bonus awards based on achieving specific targets in net income, corporate debt management, and customer satisfaction, with each category weighted toward the total bonus. Mr. Cornely is guaranteed a minimum bonus of $100,000 for 2006, with higher awards possible if performance exceeds set goals.
Exhibit 10.3
Dominion Homes, Inc.
2006 Incentive Compensation Program
William G. Cornely, Senior Vice President of Finance and CFO
Net Income (40% of Total)
| Goal | Award | ||
| Target | $ | 30,000 | |
| Stretch | $ | 75,000 | |
| Exceptional | $ | 125,000 | |
Corporate Debt Management (40% of Total)
| Goal | Award | ||
| 100% of Target Debt Reduction | $ | 30,000 | |
| 133% of Target Debt Reduction | $ | 75,000 | |
| 166% of Target Debt Reduction | $ | 125,000 | |
Customer Satisfaction (20% of Total)
| Goal | Award | ||
| 94% | $ | 15,000 | |
| 95% | $ | 37,500 | |
| 96% | $ | 62,500 | |
Mr. Cornely will be entitled to receive a guaranteed minimum bonus for 2006 of $100,000.
