CEO Incentive Compensation Schedule and Bonus Agreement (2004/05)

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines the bonus compensation for the CEO based on the company's financial performance in 2004, 2005, and any renewal term. The CEO is eligible for a bonus calculated as a percentage of EBITDA, depending on the company's ranking in Return on Assets (ROA) and Return on Equity (ROE) compared to other large public homebuilders. Higher rankings result in higher bonus percentages, while lower rankings may result in no bonus for that metric.

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EX-10.1 2 a04-8673_1ex10d1.htm EX-10.1

Exhibit 10.1

 

EXHIBIT A

 

INCENTIVE COMPENSATION SCHEDULE

 

CEO BONUS COMPENSATION

 

PART I – BONUS

 

2004/05

For 2004 and 2005 (and any Renewal Term), Executive shall be entitled to a bonus equal to .825% of EBITDA if Company’s ROA is in the top ½ of public homebuilders having revenues of $500 million or more per year, and an additional .825% of EBITDA if the Company’s ROE is in the top one-half of these public builders.  If either measurement falls within the 33% to 49% percentile, the bonus shall be .5363% of EBITDA for the applicable measurement.  If either measurement falls below the 33% threshold, then there will not be any formula bonus paid with respect to such measurement.