Amended 2006 Incentive Compensation Program for William G. Cornely (Dominion Homes, Inc.)
This agreement outlines the amended 2006 incentive compensation program for William G. Cornely, Senior Vice President of Finance and CFO at Dominion Homes, Inc. The program sets specific performance targets in three areas: net income, corporate debt management, and customer satisfaction. Depending on the level of achievement in each area, Mr. Cornely is eligible for varying cash awards, with higher payouts for exceeding targets. The agreement details the award amounts for goal, stretch, and exceptional performance levels, providing clear financial incentives tied to company and individual performance.
Exhibit 10.4
Dominion Homes, Inc.
Amended 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 | |
