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

Summary

This agreement outlines the bonus compensation for the Chief Financial Officer (CFO) for 2004, 2005, and any renewal term. The CFO is eligible for a bonus based on the company's financial performance compared to other public homebuilders with revenues of $500 million or more. The bonus is calculated as a percentage of EBITDA, depending on the company's ranking in Return on Assets (ROA) and Return on Equity (ROE). Higher rankings result in higher bonus percentages, while lower rankings may result in no bonus.

EX-10.2 3 a04-8673_1ex10d2.htm EX-10.2

Exhibit 10.2

EXHIBIT A

INCENTIVE COMPENSATION SCHEDULE

CFO BONUS COMPENSATION

PART I – BONUS

2004/05

For 2004 and 2005 (and any Renewal Term), Executive shall be entitled to a bonus equal to .20% of EBITDA if Company’s ROA is in the top ½ of public homebuilders having revenues of $500 millions or more per year, and an additional .20% 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 .13% 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.