Document:

Dominion Homes Amended & Restated 2003 Stock Option & Incentive Equity Plan

 Exhibit 10.4 
  
 DOMINION HOMES, INC. 
  
 AMENDED AND RESTATED 2003 STOCK OPTION 
 AND INCENTIVE EQUITY PLAN 
  
 (adopted March 11,
2003, as amended and restated May 12, 2004 and June 8, 2004) 
  
 1.00 PURPOSE 
  
 Effective March 11, 2003, the Company adopted the
Dominion Homes, Inc. 2003 Stock Option and Incentive Equity Plan to foster and promote its long-term financial success and to materially increase shareholder value [1] by providing Employees and Eligible Directors an opportunity to acquire an
ownership interest in the Company and [2] by enabling the Company to attract and retain the services of outstanding Employees and Eligible Directors upon whose judgment, interest and special efforts the successful conduct of the
Company’s business is largely dependent. To enhance these objectives, the Company amends and restates the Plan as provided in this document effective June 8, 2004. 
  
 2.00 DEFINITIONS 
  
 When used in this Plan, the following terms have the meanings given to them in this section unless another meaning is expressly provided elsewhere in this
document or clearly required by the context. When applying these definitions, the form of any term or word will include any of its other forms. 
  
 2.01 Act. The Securities Exchange Act of 1934, as amended. 
  
 2.02 Affiliated SAR. An SAR that is granted in conjunction with an Option and which is always deemed to have been exercised at the same time that the related
Option is exercised. The deemed exercise of an Affiliated SAR will not reduce the number of shares of Stock subject to the related Option, except to the extent of the exercise of the related Option. 
  
 2.03 Annual Meeting. The annual meeting of the Company’s shareholders.

  
 2.04 Award. Any Incentive Stock Option, Nonstatutory Stock
Option, Performance Share, Performance Unit, Restricted Stock and Stock Appreciation Right issued under the Plan. During any single Plan Year, no Participant may be granted SARs affecting more than 50,000 shares of Stock allocated to the Plan
(adjusted as provided in Section 5.03) and Options affecting more than 50,000 shares of Stock allocated to this Plan (adjusted as provided in Section 5.03), including Options and SARs that are cancelled [or deemed to have been cancelled under Treas.
Reg. §1.162-27(e)(2)(vi)(B)] during the Plan Year issued. 

 2.05 Award Agreement. The written agreement described in Section 4.03. 
  
 2.06 Beneficiary. The person a Member designates to receive (or exercise) any
Plan benefits (or rights) that are unpaid (or unexercised) when he or she dies. A Beneficiary may be designated only by following the procedures described in Section 13.02; neither the Company nor the Committee is required to infer a Beneficiary
from any other source. 
  
 2.07 Board. The Company’s Board of
Directors. 
  
 2.08 Cause. Unless the Committee specifies otherwise in the
Award Agreement, with respect to any Member: 
  
 [1] Any
unauthorized disclosure of the Company’s or any Subsidiary’s business practices or accounts to a competitor that results in serious damage to the Company; 
  
 [2] Willful and wrongful misappropriation of funds, property or rights of the Company or any Subsidiary that results
in serious damage to the Company or any Subsidiary; 
  
 [3] Willful and wrongful destruction of business records or other property that results in serious damage to the Company or any Subsidiary; 
  
 [4] Conviction of a felony involving moral turpitude; 
  
 [5] Conviction of a misdemeanor involving moral turpitude but only if the conviction arose as part of a plea bargain and relates to acts that were
originally charged as felonies; 
  
 [6] Gross and willful
misconduct that results in serious damage to the Company or any Subsidiary; 
  
 [7] Material breach of, or inability to perform, regularly assigned duties, other than by reason of disability (as defined in the Company’s short-term disability plan); or 
  
 [8] A Member’s failure to return to active employment with the
Company or any Subsidiary within 30 days after the end of any disability (as defined in the Company’s short-term disability plan) but only if that period ends before the Member’s Retirement. 
  
 2.09 Change in Control. The occurrence of any of the following events:

  
 [1] Douglas Borror and David Borror both cease to be
members of the Board; or 
  
 [2] Any direct or indirect
acquisition by a “person,” including a “group” [as such terms are used in Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934, as amended (“Act”)] after which the “person” or “group”
is the “beneficial owner” (as defined in Rule 13d-3 under the Act), directly or indirectly, of securities of the Company representing more than 40 percent of the combined voting power of the Company’s then outstanding securities;
provided, however, that “person” or “group” will not include [a] the Company, [b] any entity under common control with the Company (within the meaning of Code §414), [c] BRC Properties Inc. or any of its
shareholders or members of the family (as defined in Code §318) of Donald Borror or [d] any employee benefit plan of any entity described in Section 2.09[2][a], [b] and/or [c] of this definition; or 
  

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 [3] The adoption or authorization by the shareholders of the Company of a definitive agreement or
a series of related agreements [a] for the merger or other business combination of the Company with or into another entity in which the shareholders of the Company immediately before the effective date of that merger or other business
combination own less than 50 percent of the voting power in the entity immediately after the effective date of that merger or other business combination or [b] for the sale or other disposition of all or substantially all of the assets of the
Company; or 
  
 [4] The adoption by the shareholders of
the Company of a plan relating to the liquidation or dissolution of the Company. 
  
 2.10 Change in Control Price. The highest price per share of Stock offered in conjunction with any transaction resulting in a Change in Control (as determined in good faith by the Committee if any part of the offered price is payable
other than in cash) or, in the case of a Change in Control occurring solely by reason of events not related to a transfer of Stock, the highest Fair Market Value of a share of Stock on any of the 30 consecutive trading days ending on the last
trading day before the Change in Control occurs. 
  
 2.11 Code. The
Internal Revenue Code of 1986, as amended, and any regulations issued under the Code and any applicable regulations or rulings issued under the Code. 
  
 2.12 Committee. 
  
 [1] In the case of Awards to Eligible Directors, the Board; or 
  
 [2] In the case of all other Awards, the Board’s Compensation Committee which also constitutes a
“compensation committee” within the meaning of Treas. Reg. §1.162-27(c)(4). The Committee will be comprised of at least three persons [a] each of whom is [i] an outside director, as defined in Treas. Reg.
§1.162-27(e)(3)(i), and [ii] a “non-employee” director within the meaning of Rule 16b-3 under the Act and [b] none of whom may receive remuneration from the Company or any Subsidiary in any capacity other than as a
director, except as permitted under Treas. Reg. §1.162-27(e)(3)(ii). 
  
 2.13 Company. Dominion Homes, Inc., an Ohio corporation 
  
 2.14 Director Option. A Nonstatutory Stock Option granted to an Eligible Director under Section 6.05. 
  
 2.15 Disability. Unless the Committee specifies otherwise in the Award Agreement: 
  
 [1] With respect to any Award other than an Incentive Stock Option, a Participant’s inability due to illness,
accident or otherwise to perform his duties for the period of time during which benefits are payable to the Participant under the Company’s short-term disability plan, as determined by an independent physician selected by the Committee and

  

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 reasonably acceptable to the Participant (or to his or her legal representative), provided that the
Participant does not return to work on a substantially full-time basis within 30 days after the Company notifies the Participant that his employment is being terminated because of his or her Disability; or  
  
 [2] With respect to an Incentive Stock Option, as defined in Code
§22(e)(3). 
  
 2.16 Effective Date. With respect to the Plan,
March 11, 2003 and with respect to this amendment and restatement, the earlier of the date this amended and restated document is adopted by the Board or the date it is approved by the Company’s shareholders. 
  
 2.17 Eligible Director. A person who, on an applicable Grant Date [1] is an
elected member of the Board (or has been appointed to the Board to fill an unexpired term and will continue to serve at the expiration of that term only if elected by shareholders) and [2] is not an Employee. For purposes of applying this
definition, an Eligible Director’s status will be determined as of the Grant Date applicable to each affected Award. 
  
 2.18 Employee. Any person who, on an applicable Grant Date, is a common law employee of the Company or any Subsidiary and is performing services and to whom the
Committee has granted an Award. A worker who is classified as other than a common law employee but who is subsequently reclassified as a common law employee of the Company for any reason and on any basis will be treated as a common law employee only
from the date of that determination and will not retroactively be reclassified as an Employee for any purpose of this Plan. 
  
 2.19 Exercise Price. The price at which a Member may exercise an Award. 
  
 2.20 Fair Market Value. The value of one share of Stock on any relevant date, determined under the following rules: 
  
 [1] If the Stock is traded on the Nasdaq National Market or on an
exchange, the reported “closing price” on the last trading day before the relevant date; 
  
 [2] If the Stock is traded over-the-counter with no reported closing price, the mean between the lowest bid and the highest asked prices on that
quotation system on the last trading day before the relevant date; or 
  
 [3] If neither Section 2.20[1] nor Section 2.20[2] applies, the fair market value as determined by the Committee in good faith. 
  
 2.21 Freestanding SAR. An SAR that is not associated with an Option and is granted under Section 9.00. 
  
 2.22 Grant Date. The date an Award is granted to a Participant, whether or not an
Award Agreement is required. 
  
 2.23 Incentive Stock Option. Any Option
granted under Section 6.00 that meets the conditions imposed under Code §422(b). 
  

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 2.24 Member. Each Participant and Terminated Participant to whom an Award has been granted and which has not
expired under the terms of the Award Agreement or as provided in Section 10.00. 
  
 2.25 Nonstatutory Stock Option. Any Option granted under Section 6.00 that is not an Incentive Stock Option. 
  
 2.26 Option. The right granted under the Plan to purchase a share of Stock at a stated price for a specified period of time. An Option may be either
[1] an Incentive Stock Option or [2] a Nonstatutory Stock Option. 
  
 2.27 Participant. Any Employee or Eligible Director who has not Terminated. 
  
 2.28 Performance Goal. The conditions that must be met before an Employee will earn a Performance Share or Performance Unit. 
  
 2.29 Performance Period. The period over which the Committee will determine if applicable Performance Goals have been met.

  
 2.30 Performance Share. An Award granted under Section 8.00.

  
 2.31 Performance Unit. An Award granted under Section 8.00. 

 
 2.32 Plan. The Dominion Homes, Inc. 2003 Stock Option and Incentive Equity
Plan. 
  
 2.33 Plan Year. The Company’s fiscal year. 
  
 2.34 Prior Plan. The Dominion Homes, Inc. Incentive Stock Plan. 
  
 2.35 Restricted Stock. An Award granted under Section 7.00. 
  
 2.36 Restriction Period. The period over which the Committee will determine if an
Employee has met conditions placed on Restricted Stock. 
  
 2.37
Retirement. Unless the Committee specifies otherwise in the Award Agreement, the date an Employee Terminates on or after reaching age 55. 
  
 2.38 Stock. A common share, without par value, issued by the Company. 
  
 2.39 Stock Appreciation Right (or “SAR”). An Award granted under Section 9.00 that is a Tandem SAR, an Affiliated SAR or a
Freestanding SAR. 
  
 2.40 Subsidiary. Any corporation, partnership or
other form of unincorporated entity of which the Company owns, directly or indirectly, 50 percent or more of the total combined voting power of all classes of stock if the entity is a corporation; or of the capital or profits interest, if the entity
is a partnership or another form of unincorporated entity. 
  
 2.41 Tandem
SAR. An SAR that is associated with an Option and which expires when that Option expires or is exercised, as described in Section 9.00. 
  

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 2.42 Termination or Terminated. Unless the Committee specifies otherwise in the Award Agreement, [1]
cessation of the employee-employer relationship between an Employee and the Company and all Subsidiaries for any reason or [2] cessation of an Eligible Director’s service on the Board for any reason. However, a Member will not be
treated as having Terminated if, without interruption, his or her status changes from Employee to Eligible Director or, if the Company agrees, from Employee or Eligible Director to consultant. 
  
 3.00 PARTICIPATION 
  
 3.01 Employees. 
  
 [1] Consistent with the terms of the Plan and subject to Sections 3.02 and 3.03, the Committee will: 
  
 [a] Decide which Employees may become Participants; 
  
 [b] Decide which Employees will be granted Awards; and 
  
 [c] Specify the type of Award to be granted and the terms upon which
an Award will be granted. 
  
 [2] The Committee may
establish different terms and conditions: 
  
 [a] For each
type of Award; 
  
 [b] For each Employee receiving the
same type of Award; and 
  
 [c] For the same Employees for
each Award the Employee receives, whether or not those Awards are granted at different times. 
  
 3.02 Eligible Directors. Each Eligible Director will [1] become a Participant on the date he or she becomes an Eligible Director and [2] receive the Awards described in Section 6.05 without any
further action by the Committee. However, as of the date an Award is made, the Committee may complete and deliver an Award Agreement to each affected Eligible Director describing the terms of the Award. 
  
 3.03 Conditions of Participation. Each Participant receiving an Award agrees:

  
 [1] If required by the Committee, to sign an Award
Agreement acknowledging the terms of the Plan and of the Award; 
  
 [2] To be bound by the terms of the Award Agreement and the Plan; and 
  
 [3] To comply with other conditions imposed by the Committee. 
  
 4.00 ADMINISTRATION 
  
 4.01 Committee Duties. The Committee is responsible for administering the Plan and has all powers appropriate and necessary to that purpose. Consistent with the Plan’s objectives, the 
  

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 Committee may adopt, amend and rescind rules and regulations relating to the Plan, to the extent appropriate to protect
the Company’s interests and has complete discretion to make all other decisions (including whether a Participant has incurred a Disability) necessary or advisable for the administration and interpretation of the Plan. Any action by the
Committee will be final, binding and conclusive for all purposes and upon all persons. 
  
 4.02 Delegation of Ministerial Duties. In its sole discretion and to the extent allowed by law and consistent with Plan objectives, the Committee may delegate any duties associated with the Plan to any person (including Employees)
that it deems appropriate. 
  
 4.03 Award Agreement. At the time any Award
is made, the Committee may prepare and deliver an Award Agreement to each affected Participant. The Award Agreement: 
  
 [1] Will describe: 
  
 [a] The type of Award and when and how it may be exercised; 
  
 [b] The effect of exercising the Award; and 
  
 [c] Any Exercise Price associated with the Award. 
  
 [2] To the extent different from the terms of the Plan, will describe: 
  
 [a] Any conditions that must be met before the Award may be
exercised; 
  
 [b] Any objective restrictions placed on
Restricted Stock, Performance Shares and Performance Units and any performance related conditions and Performance Goals that must be met before those restrictions will be released; 
  
 [c] When and how an Award may be exercised; and 
  
 [d] Any other applicable terms and conditions affecting the Award. 
  
 [3] Except as provided in Section 4.03[3][d], will not: 

 
 [a] Establish an Exercise Price that is less than Fair Market
Value on the Grant Date; 
  
 [b] Provide that the
Restriction Period applying to any time-based Restricted Stock will be shorter than 36 consecutive calendar months beginning after the Grant Date; or 
  
 [c] Provide that the Restriction Period applying to any performance-based Restricted Stock or the Performance Period applying to any Performance
Stock will be shorter than 12 consecutive calendar months beginning after the Grant Date; but 
  
 [d] The restrictions described in Section 4.03[3][a], [b] and [c] will not apply to Awards affecting, in the aggregate, no more than 50,000 shares, adjusted as provided in Sections 5.02 and 5.03 or to any grant
of time-based Restricted Stock that vests in equal annual increments of 33- 1/3 percent. 
  

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 4.04 Repricing/Settlement. With the approval of the Company’s shareholders, the Committee may
“reprice” (as defined under rules issued by the Nasdaq National Market or any national securities exchange or system on which shares of Stock are then listed or traded) any Award on any basis approved by the Company’s shareholders.
Also, in its sole discretion, the Company may repurchase or settle any outstanding Award for cash at any time and on any basis it believes is appropriate and consistent with the Plan’s purposes. 
  
 5.00 STOCK SUBJECT TO PLAN 
  
 5.01 Number of Shares of Stock. Subject to Sections 5.02 and 5.03, the number
of shares of Stock subject to Awards under the Plan may not be larger than 500,000. The shares of Stock to be delivered under the Plan may consist, in whole or in part, of treasury Stock or authorized but unissued Stock not reserved for any other
purpose. 
  
 5.02 Cancelled, Terminated or Forfeited Awards or Awards
Settled for Cash. Any Stock subject to an Award that, for any reason, is cancelled, terminated or forfeited or otherwise settled without the issuance of the Stock may again be granted under the Plan. 
  
 5.03 Adjustment in Capitalization. If, after the Effective Date, there is a
Stock dividend or Stock split, recapitalization (including payment of an extraordinary dividend), merger, consolidation, combination, spin-off, distribution of assets to shareholders, exchange of shares or other similar corporate change affecting
Stock, the Committee will adjust as it deems appropriate [1] the number of Awards that may or will be issued to Participants during a Plan Year, [2] the aggregate number of shares of Stock available for Awards under Section 5.01 or
subject to outstanding Awards (as well as any share-based limits imposed under this Plan), [3] the respective Exercise Price, number of shares and other limitations applicable to outstanding or subsequently issued Awards and [4] any
other factors, limits or terms affecting any outstanding or subsequently issued Awards. 
  
 6.00 OPTIONS 
  
 6.01
Grant of Options. The Committee may grant Options to Employees and Eligible Directors at any time during the term of this Plan. Options may be either [1] Incentive Stock Options or [2] Nonstatutory Stock Options. However,
Options issued to Eligible Directors must always be Nonstatutory Stock Options. 
  
 6.02 Option Price. Subject to Section 4.03[3], each Option will bear the Exercise Price the Committee specifies in the Award Agreement. However, in the case of an Incentive Stock Option, the Exercise Price [1] will not
be less than the Fair Market Value of a share of Stock on the Grant Date and [2] will be at least 110 percent of the Fair Market Value of a share of Stock on the Grant Date with respect to any Incentive Stock Options issued to an Employee
who, on the Grant Date, owns [as defined in Code §424(d)] Stock possessing more than 10 percent of the total combined voting power of all classes of Stock. 
  

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 6.03 Exercise of Options. Subject to the terms of the Plan, Options will be exercisable under the
conditions specified in the Award Agreement. However: 
  
 [1] Any Option to purchase a fraction of a share of Stock will be liquidated as of the date it arises and the Participant will be given cash equal to Fair Market Value multiplied by the fractional share. 
  
 [2] Unless the Committee specifies otherwise in the Award Agreement,
no Employee may exercise Options for fewer than the smaller of: 
  
 [a] 100 shares of Stock; or 
  
 [b] The
full number of shares of Stock for which Options are then exercisable. 
  
 [3] No Option may be exercised more than ten years after it is granted (five years in respect of an Incentive Stock Option, if the Employee owns [as defined in Code §424(d)] Stock possessing more than 10 percent of total
combined voting power of all classes of Stock on the Grant Date). 
  
 6.04
Incentive Stock Options. Notwithstanding anything in the Plan to the contrary: 
  
 [1] No provision of this Plan relating to Incentive Stock Options will be interpreted, amended or altered; nor will any discretion or authority granted under the Plan be exercised, in a manner that is
inconsistent with Code §422, or, without the consent of any affected Member, to cause any Incentive Stock Option to fail to qualify for the federal income tax treatment afforded under Code §421; 
  
 [2] The aggregate Fair Market Value of the Stock (determined as of
the Grant Date) with respect to which Incentive Stock Options are exercisable for the first time by any Member during any calendar year (under all option plans of the Company and all Subsidiaries of the Company) will not exceed $100,000 [or other
amount specified in Code §422(d)]; and 
  
 [3] No
Incentive Stock Option will be granted to any person who is not an Employee on the Grant Date. 
  
 6.05 Director Options. 
  
 [1] On the first business day after each Annual Meeting, each Eligible Director will be issued Director Options to purchase 2,500 shares of Stock. The Director Options issued under this section will be reduced (but not below zero) by
any options issued for the same purpose under the Prior Plan. 
  
 [2] Subject to the terms of the Plan and the Award Agreement, each Director Option may be exercised at any time during the ten years beginning on the Grant Date. 
  

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 [3] However: 
  
 [a] Any Director Option to purchase a fraction of a share of Stock will be liquidated as of the date it arises and
the Participant will be given cash equal to Fair Market Value multiplied by the fractional share; 
  
 [b] Unless the Committee specifies otherwise in the Award Agreement, no Eligible Director may exercise Director Options for fewer than the smaller
of: 
  
 [i] 100 shares of Stock; or

  
 [ii] The full number of shares of
Stock for which Director Options are then exercisable. 
  
 6.06 Payment for
Options. Unless the Committee specifies otherwise in the Award Agreement, the Exercise Price associated with each Option must be paid in cash. However, the Committee may, at any time and in its discretion, develop, and extend to some or all
Members, procedures through which Members may pay an Option’s Exercise Price, including allowing a Member to tender Stock he or she already has owned for at least six months before the exercise date, either by actual delivery of the previously
owned Stock or by attestation, valued at its Fair Market Value on the exercise date, as partial or full payment of the Exercise Price. 
  
 6.07 Transferability of Stock. Unless the Committee specifies otherwise in the Award Agreement, Stock acquired through an Option will be transferable, subject to
applicable federal securities laws, the Company’s stock trading policy, the requirements of the Nasdaq National Market or any national securities exchange or system on which shares of Stock are then listed or traded or any blue sky or state
securities laws. 
  
 7.00 RESTRICTED STOCK 
  
 7.01 Restricted Stock Grants. Subject to the terms of the Plan (including Section
4.03[3]) and the Award Agreement, the Committee may grant Restricted Stock to Employees at any time during the term of this Plan. 
  
 7.02 Transferability. Shares of Restricted Stock may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated until the end of the
applicable Restriction Period. Restricted Stock normally will be held by the Company as escrow agent during the Restriction Period and will be distributed as described in Section 7.03. However, at any time during the Restriction Period, the
Committee may, in its sole discretion, issue the Restricted Stock to the Employee in the form of certificates containing a legend describing restrictions imposed on the Restricted Stock. 
  
 7.03 Removal of Restrictions. Shares of Restricted Stock will be: 
  
 [1] Forfeited, if all restrictions have not been met at the end of the Restriction Period and again become available
to be granted under the Plan; or 
  

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 [2] Released from escrow and distributed to the affected Employee (or any restrictions imposed on
the distributed certificate removed) as soon as practicable after the last day of the Restriction Period if all restrictions have then been met. 
  
 7.04 Rights Associated with Restricted Stock. During the Restriction Period: 
  
 [1] Employees may exercise full voting rights associated with their Restricted Stock; and 
  
 [2] All dividends and other distributions paid with respect to any
Restricted Stock will be held by the Company as escrow agent during the Restriction Period. At the end of the Restriction Period, these dividends will be distributed to the Employee or forfeited as provided in Section 7.03. No interest or other
accretion will be credited with respect to any dividends held in this escrow account. If any dividends or other distributions are paid in shares of Stock, those shares will be subject to the same restrictions on transferability and forfeitability as
the shares of Restricted Stock with respect to which they were issued. 
  
 8.00 PERFORMANCE SHARES AND PERFORMANCE UNITS 
  
 8.01
Performance Shares and Performance Unit Grants. Subject to the terms of the Plan (including Section 4.03[3]) and the Award Agreement, the Committee may grant Performance Shares or Performance Units to Employees at any time during the term of
this Plan. However, Performance Shares and Performance Units will be granted to Participants whose compensation is subject to Code §162(m) [“Code §162(m) Participants”] solely under the terms of Section 8.02, while Performance
Shares and Performance Units will be granted to Participants who are not Code §162(m) Participants solely under the terms of Section 8.03 
  
 8.02 Code §162(m) Participants. 
  
 [1] For each Performance Period, the Committee will establish the Performance Goal that will be applied to determine the Performance Shares or
Performance Units that may be distributed at the end of the Performance Period to any Code §162(m) Participant. 
  
 [2] In establishing each affected Code §162(m) Participant’s Performance Goal, the Committee will consider the relevance of his or her
assigned duties and responsibilities to factors that preserve and increase the Company’s value. These factors will include: 
  
 [a] Increasing sales; 
  
 [b] Developing new products and lines of revenue; 
  
 [c] Reducing operating expenses; 
  
 [d] Increasing customer satisfaction; 
  
 [e] Developing new markets and increasing the Company’s share of existing markets; 
  

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 [f] Meeting completion schedules; 
  
 [g] Increasing standardized pricing; 
  
 [h] Developing and managing relationships with regulatory and other governmental agencies; 
  
 [i] Managing cash; 
  
 [j] Managing claims against the Company, including litigation;

  
 [k] Identifying and completing strategic acquisitions;
and 
  
 [l] Increasing the Company’s book value.

  
 [3] The Committee will make adjustments that
appropriately reflect: 
  
 [a] The effect on any
Performance Goal of any Stock dividend or Stock split, recapitalization (including, without limitation, the payment of an extraordinary dividend), merger, consolidation, combination, spin-off, distribution of assets to shareholders, exchange of
shares or similar corporate change. This adjustment to the Performance Goal will be made [i] to the extent the Performance Goal is based on Stock, [ii] as of the effective date of the event and [iii] for the Performance Period
in which the event occurs. Also, the Committee will make a similar adjustment to any portion of a Performance Goal that is not based on Stock but which is affected by an event having an effect similar to those just described. 
  
 [b] A substantive change in a Code §162(m) Participant’s
job description or assigned duties and responsibilities. 
  
 [4] Performance Goals will be established and communicated to each affected Code §162(m) Participant in an Award Agreement no later than the earlier of: 
  
 [a] 90 days after the beginning of the applicable Performance Period; or 
  
 [b] The expiration of 25 percent of the applicable Performance
Period. 
  
 [5] As of the end of each Performance Period,
the Committee will certify to the Board the extent to which each Code §162(m) Participant has or has not met the Performance Goals established under this section. These Performance Shares or Performance Units will be: 
  
 [a] Forfeited, to the extent that Performance Goals have not been met
at the end of the Performance Period, and again become available to be granted under the Plan; or 
  
 [b] Valued and distributed, in a single lump sum in the form of cash, Stock or a combination of both (as determined by the Committee) as soon as
practicable after the last day of the Performance Period, to the extent that related Performance Goals have been met. 
  

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 8.03 Non-Code §162(m) Participants. At its discretion, the Committee may issue Performance Shares and
Performance Units to Participants who are not Code §162(m) Participants (“Non-Code §162(m) Participants”) by applying the procedures described in Section 8.02 or on any other basis it deems appropriate. These Performance Shares
or Performance Units will be: 
  
 [1] Forfeited, to the
extent that any Performance Goals or other standards (if any) have not been met, and again become available to be granted under the Plan; or 
  
 [2] Valued and distributed, in a single lump sum in the form of cash, Stock or a combination of both (as determined by the Committee) at a time
determined by the Committee, to the extent that related Performance Goals (if any) have been met. 
  
 8.04 Rights Associated with Performance Shares and Performance Units. During the Performance Period, and unless any Award Agreement provides otherwise: 
  
 [1] Employees may not exercise voting rights associated with their
Performance Shares or Performance Units; and 
  
 [2] No
dividends or other distributions made or declared during the Performance Period will be paid with respect to any Performance Shares or Performance Units. 
  
 9.00 STOCK APPRECIATION RIGHTS 
  
 9.01 SAR Grants, Subject to the terms of the Plan and the Award Agreement, the Committee may grant Affiliated SARs, Freestanding SARs and Tandem SARs (or a
combination of each) to Employees at any time during the term of this Plan. 
  
 9.02 Exercise Price. Unless the Committee specifies otherwise in the Award Agreement, the Exercise Price specified in the Award Agreement will: 
  

[1] In the case of an Affiliated SAR, not be less than 100 percent of the Fair Market Value of a share of Stock on the Grant Date; 

 
 [2] In the case of a Freestanding SAR, not be less than 100
percent of the Fair Market Value of a share of Stock on the Grant Date; and 
  
 [3] In the case of a Tandem SAR, not be less than the Exercise Price of the related Option. 
  
 9.03 Exercise of Affiliated SARs. Affiliated SARs will be deemed to be exercised on the date the related Option is exercised. However: 
  
 [1] An Affiliated SAR will expire no later than the date the related
Option expires; 
  

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 [2] The value of the payout with respect to the Affiliated SAR will not be more than the Exercise
Price of the related Option; and 
  
 [3] An Affiliated SAR
may be exercised only if the Fair Market Value of the shares of Stock subject to the related Option is larger than the Exercise Price of the related Option. 
  
 9.04 Exercise of Freestanding SARs. Freestanding SARs will be exercisable subject to the terms specified in the Award Agreement. 
  
 9.05 Exercise of Tandem SARs. Tandem SARs may be exercised with respect to all or part
of the shares of Stock subject to the related Option by surrendering the right to exercise the equivalent portion of the related Option. A Tandem SAR may be exercised only with respect to the shares of Stock for which its related Option is then
exercisable. However: 
  
 [1] A Tandem SAR will expire no
later than the date the related Option expires; 
  
 [2]
The value of the payout with respect to the Tandem SAR will not be more than 100 percent of the difference between the Exercise Price of the related Option and the Fair Market Value of a share of Stock subject to the related Option at the time the
Tandem SAR is exercised; and 
  
 [3] A Tandem SAR may be
exercised only if the Fair Market Value of a share of Stock subject to the Option is larger than the Exercise Price of the related Option. 
  
 9.06 Settling SARs. 
  
 [1] A Member exercising a Tandem SAR or a Freestanding SAR will receive an amount equal to: 
  
 [a] The difference between the Fair Market Value of a share of Stock
on the exercise date and the Exercise Price; multiplied by 
  
 [b] The number of shares of Stock with respect to which the Tandem SAR or Freestanding SAR is exercised. 
  
 [2] A Member will not receive any cash or other amount when exercising an Affiliated SAR. Instead, the value of the Affiliated SAR being exercised
will be applied to reduce (but not below zero) the Exercise Price of the related Option. 
  
 At the discretion of the Committee, the value of any Tandem SAR or Freestanding SAR being exercised will be settled in cash, shares of Stock or any combination of both. 
  
 10.00 TERMINATION 
  
 10.01 Retirement. Unless otherwise specified in the Award Agreement, all Awards that
are outstanding (whether or not then exercisable) when a Participant Retires may be exercised at any time before the earlier of [1] the expiration date specified in the Award Agreement or [2] 12 months (three months in the case of
Incentive Stock Options) beginning on the Retirement date (or any shorter period specified in the Award Agreement). 
  

 14 

 10.02 Death or Disability. Unless otherwise specified in the Award Agreement, all Awards that are outstanding
(whether or not then exercisable) when a Participant Terminates because of death or Disability may be exercised by the Participant or the Participant’s Beneficiary at any time before the earlier of [1] the expiration date specified in
the Award Agreement or [2] 12 months beginning on the date of death or Termination because of Disability (or any shorter period specified in the Award Agreement). 
  
 10.03 Termination for Cause. Unless otherwise specified in the Award Agreement, all Awards that are outstanding (whether or not then
exercisable) if a Participant Terminates for Cause will be forfeited. 
  
 10.04
Termination for any Other Reason. Unless otherwise specified in the Award Agreement or subsequently, any Awards that are outstanding when a Participant Terminates for any reason not described in Sections 10.01 through 10.03 and which are then
exercisable, or which the Committee has, in its sole discretion, decided to make exercisable, may be exercised at any time before the earlier of [1] the expiration date specified in the Award Agreement or [2] 90 days beginning on the
date the Participant Terminates. 
  
 10.05 Limits on Exercisability/Forfeiture
of Exercised Awards. Regardless of any other provision of this section or the Plan and unless the Committee specifies otherwise in the Award Agreement or the Company subsequently consents in writing, a Member who fails to comply with Section
10.05[3] will: 
  
 [1] Forfeit all outstanding Awards; and

  
 [2] Forfeit all shares of Stock or cash (including
dividends held in escrow under Section 7.04[2]) acquired or received by the exercise of any Award, lapse of any restrictions or attainment of any Performance Goals on the date of Termination or within 180 days before and 365 days after Terminating,
including any amounts received under a cash settlement described in Section 4.04 but excluding amounts received as a consequence of a Change in Control as described in Section 11.00. 
  
 [3] The forfeiture described in Sections 10.05[1] and [2] will apply if, within the time period described in Section
10.05[2] the Member “competes” with the Company or any Subsidiary. For purposes of this section, “compete” means: 
  
 [a] Anywhere in the State of Ohio or in any other state in which the Company or any Subsidiary is conducting business when benefits are paid, the
Member, without the written consent of the Company, provides advice with respect to, engages in or directly or indirectly supervises or assists the provision of any service or sale of any product that competes with any service or product of the
Company or any Subsidiary; or 
  

 15 

 [b] Anywhere in any state, the Member accepts employment with, the Member provides advice to, or
engages in or directly or indirectly supervises or assists the provision of any service or sale of any product by any person, company, partnership, corporation or other entity that builds homes, develops land or otherwise competes with the Company
or any Subsidiary in any market, city or area in which the Company or any Subsidiary conducts business when benefits are paid. 
  
 11.00 CHANGE IN CONTROL 
  
 11.01 Accelerated Vesting and Settlement. Subject to Section 11.02, on the date of any Change in Control: 
  
 [1] [a] Each Option (other than Director Options) outstanding
on the date of a Change in Control (whether or not exercisable) will be cancelled in exchange [i] for cash equal to the excess of the Change in Control Price over the Exercise Price associated with the cancelled Option or, [ii] at the
Committee’s discretion, for whole shares of Stock with a Fair Market Value equal to the excess of the Change in Control Price over the Exercise Price associated with the cancelled Option and the Fair Market Value of any fractional share of
Stock will be distributed in cash, and [b] all related Affiliated and Tandem SARs will be cancelled. However, the Committee, in its sole discretion, may offer the holders of the Options to be cancelled a reasonable opportunity (not longer
than 15 days beginning on the date of the Change in Control) to exercise all their outstanding Options (whether or not otherwise then exercisable) by following the exercise procedures described in Section 6.00; 
  
 [2] All Performance Goals associated with Performance Shares or
Performance Units will be deemed to have been met on the date of the Change in Control, all Performance Periods accelerated to the date of the Change in Control and all outstanding Performance Shares and Performance Units (including those subject to
the acceleration described in this subsection) will be distributed in a single lump sum cash payment; 
  
 [3] All Freestanding SARs will be deemed to be exercisable and will be liquidated in a single lump sum cash payment; and 
  
 [4] All Restricted Stock will be released from escrow and distributed
to the affected Employee (or any restrictions imposed on the distributed certificate removed). 
  
 11.02 Alternative Awards. Section 11.01 will not apply to the extent that the Committee reasonably concludes in good faith before the Change in Control occurs that Awards will be honored or assumed or new
rights substituted for the Award (collectively “Alternative Awards”) by the Employee’s employer (or the parent or a subsidiary of that employer) immediately after the Change in Control, provided that any Alternative Award must:

  
 [1] Be based on stock that is (or, within 60 days of
the Change in Control, will be) traded on the Nasdaq National Market or a national securities exchange or system; 
  

 16 

 [2] Provide the Employee (or each Employee in a class of Employees) rights and entitlements
substantially equivalent to the rights, terms and conditions of each Award for which it is substituted, including an identical or better exercise or vesting schedule and identical or better timing and methods of payment, provided that such
substitution of an Award will not constitute a modification, extension or renewal of any Award; 
  
 [3] Have substantially equivalent economic value to the Award (determined at the time of the Change in Control) for which it is substituted; and

  
 [4] Provide that, if the Employee’s employment is
involuntarily Terminated without Cause or constructively Terminated by the Employee, any conditions on the Employee’s rights under, or any restrictions on transfer or exercisability applicable to, each Alternative Award will be waived or lapse.
 
  
 For purposes of this section, a constructive Termination means
a Termination by an Employee following a material reduction in the Employee’s compensation or job responsibilities (when compared to the Employee’s compensation and job responsibilities on the date of the Change in Control) or the
relocation of the Employee’s principal place of employment to a location at least 50 miles from his or her principal place of employment on the date of the Change in Control (or other location to which the Employee has been reassigned with his
or her written consent), in each case without the Employee’s written consent but only if the material reduction or relocation occurs within 24 months after the Change in Control. 
  
 11.03 Director Options. Upon a Change in Control, each outstanding Director Option will be cancelled unless [1] the Stock
continues to be traded on an established securities market after the Change in Control or [2] the Eligible Director continues to be a Board member after the Change in Control. In the situations just described, the Director Option will be
unaffected by a Change in Control. Any Director Option to be cancelled under the next preceding sentence will be exchanged [3] for cash equal to the excess of the Change in Control Price over the Exercise Price associated with the cancelled
Director Option or [4] at the Committee’s discretion, for whole shares of Stock with a Fair Market Value equal to the excess of the Change in Control Price over the Exercise Price associated with the cancelled Director Option and the
Fair Market Value of any fractional share of Stock will be distributed in cash. However, the Committee, in its sole discretion, may offer the holders of the Director Options to be cancelled a reasonable opportunity (not longer than 15 days beginning
on the date of the Change in Control) to exercise all their outstanding Director Options (whether or not otherwise then exercisable) by following the exercise procedures described in Section 6.00. 
  
 11.04 Coordination of Change In Control Benefits. Unless otherwise specified in a
separate agreement between the Company and the Participant (including an Award Agreement), if the sum of the benefits received due to a Change in Control and those provided under all other plans, programs or agreements between the Participant and
the Company or any Subsidiary constitute “excess parachute payments” as defined in Code §280G(b)(1), the Company and or Subsidiary will reduce the amounts paid to the Participant under this Plan so that his or her total
“parachute payment” as defined in Code §280G(b)(2)(A) under this and all other plans, programs or agreements between the Participant and the Company or Subsidiary will be $1.00 less than the amount that would be an “excess
parachute payment.” 
  

 17 

 12.00 AMENDMENT, MODIFICATION AND TERMINATION OF PLAN 
  
 The Board or the Committee may terminate, suspend or amend the Plan at any time without
shareholder approval except to the extent that shareholder approval is required to satisfy applicable requirements imposed by [1] Rule 16b-3 under the Act, or any successor rule or regulation, [2] applicable requirements of the Code or
[3] the Nasdaq National Market or any securities exchange, market or other quotation system on or through which the Company’s securities are listed or traded. Also, no Plan amendment may [4] result in the loss of a Committee
member’s status as a “non-employee director” as defined in Rule 16b-3 under the Act, or any successor rule or regulation, with respect to any employee benefit plan of the Company, [5] cause the Plan to fail to meet requirements
imposed by Rule 16b-3 or [6] without the consent of the affected Member, adversely affect any Award issued before the amendment, modification or termination. 
  
 13.00 MISCELLANEOUS 
  
 13.01 Assignability. Except as described in this section, an Award may not be transferred except by will or the laws of descent and distribution and, during the
Member’s lifetime, may be exercised only by the Member, the Member’s guardian or legal representative. However, with the permission of the Committee, a Member or a specified group of Members may transfer Awards (other than Incentive Stock
Options) to a revocable inter vivos trust, of which the Member is the settlor, or may transfer Awards (other than an Incentive Stock Option) to any member of the Member’s immediate family, any trust, whether revocable or irrevocable,
established solely for the benefit of the Member’s immediate family, any partnership or limited liability company whose only partners or members are members of the Member’s immediate family or an organization described in Code
§501(c)(3) (“Permissible Transferees”). Any Award transferred to a Permissible Transferee will continue to be subject to all of the terms and conditions that applied to the Award before the transfer and to any other rules prescribed
by the Committee. A Permissible Transferee [other than an organization described in Code §501(c)(3)] may not retransfer an Award except by will or the laws of descent and distribution and then only to another Permissible Transferee. 

 
 13.02 Beneficiary Designation. Each Member may name a Beneficiary or Beneficiaries
(who may be named contingently or successively) to receive or to exercise any vested Award that is unpaid or unexercised at the Member’s death. Each designation made will revoke all prior designations made by the same Member, must be made on a
form prescribed by the Committee and will be effective only when filed in writing with the Committee. If a Member has not made an effective Beneficiary designation, the deceased Member’s Beneficiary will be his or her surviving spouse or, if
none, the deceased Member’s estate. The identity of a Member’s designated Beneficiary will be based only on the information included in the latest beneficiary designation form completed by the Member and will not be inferred from any other
evidence. 
  

 18 

 13.03 No Guarantee of Employment or Participation. Nothing in the Plan may be construed as: 
  
 [1] Interfering with or limiting the right of the Company or any
Subsidiary to Terminate any Employee’s employment at any time; 
  
 [2] Conferring on any Participant any right to continue as an employee or director of the Company or any Subsidiary; 
  
 [3] Guaranteeing that any common-law employee will be selected to be a Participant; or 
  
 [4] Guaranteeing that any Member will receive any future Awards.

  
 13.04 Tax Withholding. 
  
 [1] The Company will withhold from other amounts owed to the Member,
or require a Member to remit to the Company, an amount sufficient to satisfy federal, state and local withholding tax requirements on any Award, exercise or cancellation of an Award or purchase of Stock. If these amounts are not to be withheld from
other payments due to the Member (or if there are no other payments due to the Member), the Company will defer payment of cash or issuance of shares of Stock until the earlier of: 
  
 [a] Thirty days after the settlement date; or 
  
 [b] The date the Member remits the required amount. 
  
 If the Member has not remitted the required amount within 30 days after the settlement date, the Company will permanently
withhold from the value of the Awards to be distributed the minimum amount required to be withheld to comply with applicable federal, state and local income, wage and employment taxes and distribute the balance to the Member. 
  
 [2] In its sole discretion, which may be withheld for any reason or
for no reason, the Committee may permit a Member to elect, subject to conditions the Committee establishes, to reimburse the Company for this tax withholding obligation through one or more of the following methods: 
  
 [a] By having shares of Stock otherwise issuable under the Award
withheld by the Company (but only to the extent of the minimum amount that must be withheld to comply with applicable state, federal and local income, employment and wage tax laws); 
  
 [b] By delivering to the Company previously acquired shares of Stock that the Member has owned for at least six
months; 
  
 [c] By remitting cash to the Company; or

  
 [d] By remitting a personal check immediately payable
to the Company. 
  

 19 

 13.05 Indemnification. Each individual who is or was a member of the Committee or of the Board will be
indemnified and held harmless by the Company against and from any loss, cost, liability or expense that may be imposed upon or reasonably incurred by him or her in connection with or resulting from any claim, action, suit or proceeding to which he
or she may be made a party or in which he or she may be involved by reason of any action taken or failure to take action under the Plan as a Committee member and against and from any and all amounts paid, with the Company’s approval, by him or
her in settlement of any matter related to or arising from the Plan as a Committee member or paid by him or her in satisfaction of any judgment in any action, suit or proceeding relating to or arising from the Plan against him or her as a Committee
member, but only if he or she gives the Company an opportunity, at its own expense, to handle and defend the matter before he or she undertakes to handle and defend it in his or her own behalf. The right of indemnification described in this section
is not exclusive and is independent of any other rights of indemnification to which the individual may be entitled under the Company’s organizational documents, by contract, as a matter of law or otherwise. 
  
 13.06 No Limitation on Compensation. Nothing in the Plan is to be construed to
limit the right of the Company to establish other plans or to pay compensation to its employees or directors, in cash or property, in a manner not expressly authorized under the Plan. 
  
 13.07 Requirements of Law. The grant of Awards and the issuance of shares of Stock will be subject to all applicable laws,
rules and regulations and to all required approvals of any governmental agencies or national securities exchange, market or other quotation system. Also, no shares of Stock will be issued under the Plan unless the Company is satisfied that the
issuance of those shares of Stock will comply with applicable federal and state securities laws. Certificates for shares of Stock delivered under the Plan may be subject to any stock transfer orders and other restrictions that the Committee believes
to be advisable under the rules, regulations and other requirements of the Securities and Exchange Commission, the Nasdaq National Market or any stock exchange or other recognized market or quotation system upon which the Stock is then listed or
traded, or any other applicable federal or state securities law. The Committee may cause a legend or legends to be placed on any certificates issued under the Plan to make appropriate reference to restrictions within the scope of this section.

  
 13.08 Term of Plan. The Plan will be effective upon its adoption
by the Board and approval by the affirmative vote of the holders of at least a majority of the common shares issued and outstanding as of the record date for the first Annual Meeting occurring after the Board approves the Plan. Subject to Section
12.00, the Plan will continue until the tenth anniversary of the Effective Date. 
  
 13.09 Governing Law. The Plan, and all agreements hereunder, will be construed in accordance with and governed by the laws (other than laws governing conflicts of laws) of the State of Ohio. 
  
 13.10 No Impact on Other Benefits. Plan Awards are incentives designed to
promote the objectives described in Section 1.00. Also, Awards are not compensation for purposes of calculating a Member’s rights under any other employee benefit plan. 
  

 20 

 13.11 Effect on Prior Plan. Upon shareholder approval of the Plan, the Prior Plan will terminate; however, all
outstanding Awards at the time of termination will continue to be governed by the rights and terms of the Prior Plan until exercised or forfeited. 
  

 21Dominion Homes Amended and Restated Supplemental Executive Retirement Plan

 Exhibit 10.5 
  
 DOMINION HOMES, INC. 
  
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
  
 AMENDED AND RESTATED EFFECTIVE JUNE 8, 2004 
  
 Effective January 1, 2003 
  
 Amended and Restated Effective June 8, 2004 

 DOMINION HOMES, INC. 
  
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
  
 AMENDED AND RESTATED EFFECTIVE JUNE 8, 2004 
  
 1.00 Purpose 
  
 Effective January 1, 2003, Dominion Homes, Inc. (“Company”) established the Dominion Homes, Inc. Supplemental Executive Retirement Plan (“Plan”).
Effective June 8, 2004, the Company amends and restates the Plan as provided in this document. This Plan is, and since its inception has been, intended to be an unfunded, nonqualified program of deferred compensation within the meaning of Title I of
ERISA. 
  
 2.00 Definitions 
  
 Whenever used in this Plan, the following words and phrases will have the meanings given to
them in this section, unless another meaning is expressly provided elsewhere in this Plan. Also, the form of any term will include all of its other forms. Other words and phrases also may be defined in the Plan text. 
  
 2.01 Account: The account established for each Participant under Section 4.01.

  
 2.02 Beneficiary: The person a Member names to receive the balance of a
Participant’s Account that is payable under Section 5.01. 
  
 2.03
Board: The Employer’s board of directors or other governing body. 
  
 2.04 Cause: 
  
 [1] Any unauthorized
disclosure of the Group’s (or any Group Member’s) business practices or accounts to a competitor that results in serious damage to the Group (or to any Group Member); 
  
 [2] Willful and wrongful misappropriation of funds, property or rights of the Group (or of any Group Member) that
results in serious damage to the Group (or to any Group Member); 
  
 [3] Willful and wrongful destruction of business records or other property that results in serious damage to the Group or to any Group Member; 
  

[4] Conviction of a felony involving moral turpitude; 
  

[5] Conviction of a misdemeanor involving moral turpitude but only if the conviction arose as part of a plea bargain and relates to acts that
were originally charged as felonies; 

 [6] Gross and willful misconduct that results in serious damage to the Group or to any Group
Member; 
  
 [7] Material breach of, or inability to
perform, regularly assigned duties, other than by reason of disability (as defined in the Company’s short-term disability plan); or 
  
 [8] A Member’s failure to return to active employment with a Group Member within 30 days after the end of any disability (as defined in the
Company’s short-term disability plan) but only if that period ends before the Participant’s Retirement Age. 
  
 2.05 Change in Control. The occurrence of any of the following events: 
  
 [1] Douglas Borror and David Borror both cease to be members of the Board; or 
  
 [2] Any direct or indirect acquisition by a “person,” including a “group” [as such terms are used
in Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934, as amended (“Act”)] after which the “person” or “group” is the “beneficial owner” (as defined in Rule 13d-3 under the Act), directly or
indirectly, of securities of the Company representing more than 40 percent of the combined voting power of the Company’s then outstanding securities; provided, however, that “person” or “group” will not include [a]
the Company, [b] any entity under common control with the Company (within the meaning of Code §414), [c] BRC Properties Inc. or any of its shareholders or members of the family (as defined in Code §318) of Donald Borror or
[d] any employee benefit plan of any entity described in Section 2.05[2][a], [b] and/or [c] of this definition; or 
  
 [3] The adoption or authorization by the shareholders of the Company of a definitive agreement or a series of related agreements [a] for the
merger or other business combination of the Company with or into another entity in which the shareholders of the Company immediately before the effective date of that merger or other business combination own less than 50 percent of the voting power
in the entity immediately after the effective date of that merger or other business combination or [b] for the sale or other disposition of all or substantially all of the assets of the Company; or 
  
 [4] The adoption by the shareholders of the Company of a plan
relating to the liquidation or dissolution of the Company. 
  
 2.06 Code:
The Internal Revenue Code of 1986, as amended. 
  
 2.07 Committee: The
Compensation Committee of the Company’s Board of Directors. 
  
 2.08
Company. Dominion Homes, Inc., an Ohio corporation. 
  
 2.09
Effective Date: January 1, 2003. 
  

 2 

 2.10 Eligible Employee: Each person employed by a Group Member who also is a member of its select group of
management employees or is a highly compensated employee within the meaning of Title I of ERISA. 
  
 2.11 Employer: The Group Member by which a Member is directly employed on the date of any event, act or occurrence described in this Plan. 
  
 2.12 Employer Contribution: The amount credited to each Participant’s Account calculated under the procedure described in each
Participant’s Notice of Participation. 
  
 2.13 Enrollment
Form: The form described in Section 3.01 that each Participant must complete before beginning to accrue a Plan benefit. Although this form is attached as Exhibit B, its terms may vary between Participants and may be changed at any time. Any
modification to Exhibit B will not be a Plan amendment for purposes of Section 8.00. 
  
 2.14 ERISA: The Employee Retirement Income Security Act of 1974, as amended. 
  
 2.15 Good Reason: Without the affected Participant’s written consent, one or more of the following events that occurs while he or she is a Participant and that occurs other than in connection with the
Participant’s Termination: 
  
 [1] A material
reduction in the Participant’s compensation; 
  
 [2]
A material reduction in the value (stated as a percentage of taxable compensation) of the Participant’s fringe benefits to a level that is materially less than the value (stated as a percentage of taxable compensation) of comparable benefits
provided generally to other actively employed similarly situated executives of the Employer, unless the Employer agrees to fully compensate the Employee for any such material reduction; 
  
 [3] The permanent assignment to the Employee of duties inconsistent in any material respect with his or her position
(including, without limitation, his or her status, office and title), authority, duties or responsibilities normally allotted to the Participant or any other action that results in a material diminution in the Participant’s position, authority,
duties or responsibilities; or 
  
 [4] Any material breach
by the Company or the Employer (or the Company’s or the Employer’s inability to perform) its normal obligations to the Participant. 
  
 2.16 Group: The Company and its subsidiaries and affiliated entities. 
  
 2.17 Group Member: Each member of the Group. 
  
 2.18 Investment Fund: The funds established by the Committee under Section 4.00 to measure the investment gains and losses allocable to each Participant’s
Account. 
  
 2.19 Member. Collectively, [1] a Participant or
[2] a former Participant. 
  

 3 

 2.20 Notice of Participation: The form described in Section 3.01 that describes the material terms under which an
Eligible Employee may become a Participant and earn a Plan benefit. Although this form is attached as Exhibit A, its terms may vary between Participants and may be changed at any time. Any modification to Exhibit A will not be a Plan amendment for
purposes of Section 8.00. 
  
 2.21 Participant: An Eligible Employee who
has met and continues to meet the conditions described in Section 3.00. A Participant’s participation will end automatically and he or she will become a Member for any period [1] after Termination or [2] before Termination but
during which he or she is not an Eligible Employee. 
  
 2.22 Plan: The
Dominion Homes, Inc. Supplemental Executive Retirement Plan, as described in this document and any amendments to it. 
  
 2.23 Plan Year: Each calendar year during which the Plan is in effect. 
  
 2.24 Retirement Age: The date a Participant [1] Terminates for any reason other than death on or after reaching age 55 or [2] is deemed to be
disabled (as defined in the Company’s short-term disability plan) at any time within 30 days before (or any time after) reaching age 55. 
  
 2.25 Termination: Termination of the employee-employer relationship between a Member and each Group Member for any reason other than death, whether or not the
Member subsequently becomes a consultant or adviser to the Employer or serves as a member of the Board. 
  
 2.26 Triggering Event: The earliest of any of the following to occur: 
  
 [1] Both [a] the Participant completes the number of months of Plan participation specified in his or her Notice of Participation and
[b] the Company’s net worth (calculated by applying standard accounting principles) first exceeds the amount specified in each Participant’s Notice of Participation; or 
  
 [2] A Change in Control. 
  
 2.27 Valuation Date: The last day of each Plan Year unless the Committee, in its sole discretion, decides that more frequent valuations are needed for any reason.

  
 3.00 Participation 
  
 3.01 Eligibility and Election to Participate. 
  
 [1] In its sole discretion, each Employer will decide which of its
Eligible Employees may participate in the Plan and the earliest date on which they may participate. An Eligible Employee will continue to participate until the earlier of the date he or she [a] is no longer an Eligible Employee, [b]
Terminates or [c] is excluded (for any reason or for no reason) from the Plan by his or her Employer. 
  

 4 

 [2] The Committee (and the Employer) will prepare a Notice of Participation for each Eligible
Employee who is to become a Participant. This notice will specify: 
  
 [a] The date the Eligible Employee may begin to earn a benefit; 
  
 [b] The Triggering Events applicable to that Eligible Employee; 
  
 [c] The means of calculating the Participant’s Employer Contribution; and 
  
 [d] Any other term or provision specially affecting the Participant’s benefit or participation in the Plan.

  
 Before an Eligible Employee may participate in
the Plan, he or she must sign and return the Notice of Participation to the Committee. 
  
 [3] Before an Eligible Employee may participate in the Plan, he or she must complete an Enrollment Form: 
  
 [a] Naming a Beneficiary; 
  
 [b] Specifying the date his or her Account will be distributed; 
  
 [c] Specifying how the value of his or her Account will be distributed; and 
  
 [d] Providing any other information the Committee may reasonably
request. 
  
 [4] The Enrollment Form and Notice of
Participation: 
  
 [a] Must be completed and returned to
the Committee no later than December 31 of the calendar year preceding the calendar year during which the Eligible Employee intends to participate in the Plan or, in the case of a newly Eligible Employee, within 30 days after receiving a Notice of
Participation from the Committee; 
  
 [b] Will remain in
effect until revoked or amended. However, any change to the Enrollment Form affecting the date Plan benefits will be paid or the form in which they will be paid must be filed no later than 12 months before the date benefits otherwise would begin
(any revocation or amendment made fewer than 12 months before the distribution date will be disregarded). 
  
 3.02 Designation of Beneficiary. 
  
 [1] Each Member may designate one or more Beneficiaries on the appropriate section of an Enrollment Form. Unless a Member who designates more than one Beneficiary also specifies the sequence or the portion of
the death benefit to be paid to each Beneficiary, the death benefit will be paid in equal shares to all named Beneficiaries. 
  

 5 

 [2] A Member may change his or her Beneficiary at any time by identifying the new Beneficiary on
the appropriate section of an Enrollment Form and delivering that completed form to the Committee. That change will be effective on the date the completed form is received by the Committee or, if later, on the date specified by the Member. However,
no change of Beneficiary will be effective until the revised designation is received by the Committee. The identity of a Member’s Beneficiary will be based only on the designation made in an Enrollment Form delivered to the Committee and will
not be inferred from any other evidence. 
  
 [3] If a
Member has not made an effective Beneficiary designation or if all of his or her Beneficiaries die before the Member, the death benefits described in Section 5.01 will be paid to the Member’s surviving spouse. If there is no surviving spouse,
these death benefits will be paid [a] to the Member’s issue, then living, per stirpes; or, if there are none, [b] to the Member’s executors or administrators. Any minor’s share of a Plan death benefit will be paid to the
adult who has been appointed to act as the minor’s legal guardian and who has assumed custody and support of that minor. 
  
 [4] The Member and the Beneficiary (and not the Committee) are responsible for ensuring that the Committee has the Beneficiary’s current
address. 
  
 4.00 Participants’ Accounts 
  
 4.01 Establishing Accounts. The Committee will establish an Account for each
Participant to record: 
  
 [1] The Employer Contribution
credited for that Participant, adjusted by net income, gains and losses attributable to those credits as provided in Section 4.03; minus 
  
 [2] Any distributions made from the Account. 
  
 4.02 Investment Funds. The Committee will establish and maintain one or more Investment Funds that will be used to measure the value of a Member’s
Account and will account for each Investment Fund as if that investment had actually been made. Participants will have no control over the selection of any Investment Fund or over the proportion of his or her Account that will be valued with
reference to any Investment Fund. 
  
 4.03 Valuation of Investment Funds and
Accounts. As of each Valuation Date, the Committee will establish the value of each Investment Fund. This value will be compared to the value of the same fund as of the most recent Valuation Date. The difference will be credited as an increase
or diminution to each Member’s Account in the same proportion that the value of the Member’s Account deemed invested in each Investment Fund bears to the value of all Members’ Accounts deemed invested in each Investment Fund.

  
 4.04 Vesting. Each Member will be fully vested in his or her Account on
the earlier of: 
  
 [1] The date the Plan is terminated as
provided in Section 9.00; or 
  

 6 

 [2] If he or she Terminates for reasons other than death: 
  
 [a] After the occurrence of a Triggering Event; and 
  
 [b] That Termination: 
  
 [i] Occurred after the Participant’s Retirement Age;

  
 [ii] Occurred for Good Reason, whether or not the
Participant had then reached his or her Retirement Age but only if [A] the Participant notifies his or her Employer of the event believed to constitute “Good Reason,” [B] that notice is given, in writing, no more than 10 days
after the cited event occurred or began, whichever is earlier and [C] the Employer does not cure the “Good Reason” cited within 10 days after receipt of that notice; or 
  
 [iii] Was Terminated by the Employer for reasons other than Cause, whether or not the Participant had then reached
his or her Retirement Age. 
  
 Regardless of any other provision
of this Plan, if a Participant Terminates because of death, no benefit will be paid from this Plan and the dead Participant’s Account will be fully and irrevocably forfeited. 
  
 5.00 Distribution of Plan Benefits 
  
 5.01 Time and Form of Payment. Except as provided elsewhere in this section, the value of each Member’s Account will be
distributed to the Member no later than 60 days after the Member Terminates. This distribution will be made in cash or by distributing any insurance policy purchased as a source of the Member’s Plan benefit, whichever form the Member has
elected in is or her Enrollment Form. A Member who elects to receive cash also may elect to receive the value of his or her Account at a different time or in a different form as provided in Section 5.02. If a Member dies after Termination but before
the value of his or her Account has been fully distributed, the value of the Member’s Account will be distributed to the Member’s Beneficiary as provided in the Member’s Enrollment Form. 
  
 5.02 Cash Distribution Options. 
  
 [1] With the Committee’s consent, which may be withheld for any
reason or for no reason, and subject to the rules described in this section, a Member who has elected a cash distribution under Section 5.01 may elect to receive the value of his or her Account (determined under Section 4.00) in annual cash
installments beginning at a date that is later than that provided in Section 5.01 or in a lump sum cash distribution at a date that is later than that provided in Section 5.01. However: 
  
 [a] This election (and any changes to it) must be made on an Enrollment Form in a manner that complies with Section
3.01; 
  

 7 

 [b] Benefits must begin no later than the January 1 that follows the date the electing Member
reaches age 65 or, if later, the date he or she Terminates; and 
  
 [c] The period over which installments are to be paid may not be longer than 10 years. 
  
 [2] The amount of any deferred distribution will be calculated under the following rules: 
  
 [a] In the case of a lump sum distribution, the payment will be equal
to the value of the Member’s Account on the most recent Valuation Date; and 
  
 [b] In the case of annual installments, the payment will be equal to the Member’s Account value as of the most recent Valuation Date divided by the remaining years over which the distribution is to be
made. 
  
 [3] If a Member has elected to defer his or
benefit (or to receive the benefit in the form of annual installments) but dies before receiving his or her entire Account balance, the unpaid benefit attributable to the dead Member will be paid in a single lump sum cash payment to the dead
Member’s Beneficiary. 
  
 5.03 Special Distribution 
  
 If any taxing authority finally establishes that a Member or Beneficiary is constructively
in receipt of any Plan benefit that has not actually been distributed and that the Member or Beneficiary is immediately liable for any income or other taxes (other than any taxes within the scope of Section 6.02) that normally would not be imposed
until the benefit is actually paid, the Employer will immediately distribute to the Member or Beneficiary a lump sum amount equal to that which the taxing authority has deemed the Member or Beneficiary to have constructively received. 
  
 5.04 Repayment Upon Occurrence of Certain Events. 
  
 [1] Regardless of any other provision of this Plan, if, within 12
consecutive calendar months beginning after the first payment is made under either Section 5.01 or 5.02, the Member “competes” with the Group (or any Group Member), the Member (or the Member’s Beneficiary if the competitive activity
began within 12 months of the Member’s death or is not discovered until after the Member’s death) agrees to repay all amounts distributed to him or her under this Plan. 
  
 [2] For purposes of this section, “compete” means: 
  
 [a] Anywhere in the State of Ohio or in any other state in which any
Group Member is conducting business when benefits are paid, the Member, without the written consent of the Company, provides advice with respect to, engages in or directly or indirectly supervises or assists the provision of any service or sale of
any product that competes with any service or product of any Group Member; or 
  

 8 

 [b] Anywhere in any state, the Member accepts employment with, the Member provides advice to or
engages in or directly or indirectly supervises or assists the provision of any service or sale of any product by any person, company, partnership, corporation or other entity that builds homes, develops land or otherwise competes with any Group
Member in any market, city or area in which a Group Member conducts business when benefits are paid. 
  
 6.00 Taxes 
  
 6.01
Withholding for Taxes Due on Plan Payments. Regardless of any other provision of this Plan, any cash payment due under Section 5.00 will be reduced by the amount of any federal, state and local income and wage taxes the Employer is required to
withhold under any applicable law or regulation from any payment made under Section 5.00. If a Member’s Plan benefit is being distributed other than in cash, this withholding obligation may be met [1] by the Member remitting to the
Employer the amount of the required withholding coincident with the date the distribution is to be made or [2] if the Member does remit sufficient cash as required by Section 6.01[1], the Employer (without further authorization from the
Member) may [a] borrow against the cash value accumulated under any insurance policy to be distributed (and the Member agrees to accept the policy subject to that loan) or [b] withhold any other property to be distributed having a
value equal to the withholding obligation. 
  
 6.02 Withholding for Taxes Due
Before Payments Begin. The Committee and each Member will agree on the method to be applied to pay the Member’s portion of any employment, wage and other taxes imposed under any applicable law or regulation on any Plan benefit before that
benefit is paid to the Member. If the Committee and the Member fail to agree on the method to be applied, the Employer will withhold the amount of the Member’s liability from his or her other compensation. 
  
 7.00 Administration 
  
 7.01 Appointment of Committee. The Committee will administer the Plan.

  
 7.02 Powers and Duties. The Committee is fully empowered to exercise
complete discretion to administer the Plan and to construe and apply all of its provisions. These powers and duties include: 
  
 [1] Subject to Sections 7.07 and 7.08, resolving disputes that may arise with regard to the rights of each Member and his or her legal
representatives under the terms of the Plan. The Committee’s decisions in these matters will be final in each case; 
  

 9 

 [2] Obtaining from the Employer and each Member information that the Committee needs to determine
the Member’s rights and benefits under the Plan. The Committee may rely conclusively upon any information furnished by the Employer or the Member; 
  
 [3] Compiling and maintaining all records it needs to administer the Plan; 
  
 [4] Upon request, furnishing each Employer with reasonable and appropriate reports of its administration of the Plan;

  
 [5] Authorizing the distribution of all benefits that
are payable under the Plan; 
  
 [6] Engaging legal,
administrative, actuarial, investment, accounting, consulting and other professional services that the Committee believes are necessary and appropriate; 
  
 [7] Adopting rules and regulations for the administration of the Plan that are not inconsistent with the terms of the Plan; and 
  
 [8] Doing and performing any other acts provided for in the Plan.

  
 Also, the Committee may delegate any of the powers and duties described in
Sections 7.02[2] through [4] to any other person or organization, as it deems appropriate. 
  
 7.03 Actions by the Committee. The Committee may act at a meeting, or in writing without a meeting, by the vote or assent of a majority of its members. The Committee will appoint one of its members to act as
secretary to record all Committee actions. The Committee also may authorize one or more of its members to execute papers and perform other ministerial duties on behalf of the Committee. No member of the Committee may participate in any Committee
action that directly affects that person’s individual interest in the Plan; these matters will be determined by a majority of other Committee members. 
  
 7.04 Indemnification. The Committee will be indemnified to the fullest extent permitted by the Employer’s organizational documents. 
  
 7.05 Conclusiveness of Action. Subject to Sections 7.07 and 7.08, any action on
matters within the discretion of the Committee will be conclusive, final and binding upon each Member and upon all persons claiming any rights under the Plan. 
  

7.06 Payment of Expenses. 
  
 [1] Committee members will not be separately compensated for their services as Committee members. However, the Employer will reimburse Committee
members for all appropriate expenses they incur while carrying out their Plan duties. 
  
 [2] The compensation or fees of accountants, counsel and other specialists and any other costs of administering the Plan will be paid by the Company. 
  

 10 

 7.07 Claims Procedure. 
  

[1] Any Member (or any Beneficiary) may file a claim with the Committee if he or she believes that he or she is entitled to an unpaid Plan
benefit. 
  
 [2] If a claim is wholly or partially denied,
the Committee will send a written notice of denial to the claimant. This notice must be written in a manner calculated to be understood by the claimant and must include: 
  
 [a] The specific reason or reasons for which the claim was denied; 
  
 [b] Specific reference to pertinent Plan provisions, rules,
procedures or protocols upon which the Committee relied to deny the claim; 
  
 [c] A description of any additional material or information that the claimant may file to perfect the claim and an explanation of why this material or information is necessary; and 
  
 [d] A description of the steps the claimant may take to appeal an
adverse determination, including a statement that the claimant may file suit under ERISA §502 if there is an adverse decision on any appeal. 
  
 The Committee will render its decision within 90 days of receiving a benefit claim. However, if special circumstances (such as the need
for additional information) require additional time, this decision will be rendered as soon as possible, but not later than 180 days after receipt of the claim and only if the Committee notifies the claimant, in writing, that it needs more time to
review a claim and why that additional time is needed. 
  
 [3] If a claim has been wholly or partially denied, the affected claimant, or his or her authorized representative, may: 
  
 [a] Request that the Committee reconsider its initial denial by filing a written appeal no more than 60 days after receiving written notice that
all or part of the initial claim was denied; 
  
 [b]
Review pertinent documents and other material upon which the Committee relied when denying the initial claim; and 
  
 [c] Submit a written description of the reasons for which the claimant disagrees with the Committee’s initial adverse decision. 
  
 An appeal of an initial denial of benefits and all
supporting material must be made in writing and directed to the Committee. The Committee is solely responsible for reviewing all benefit claims and appeals and taking all appropriate steps to implement its decision. 
  

 11 

 The Committee’s decision on review will be sent to the claimant in writing and will
include specific reasons for the decision, written in a manner calculated to be understood by the claimant, specific references to the pertinent Plan provisions, rules, procedures or protocols upon which the Committee relied to deny the appeal, and
a statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents relevant to the claim. 
  
 The Committee will render its decision within 60 days of receiving a benefit appeal. However, if special
circumstances (such as the need to hold a hearing on any matter pertaining to the denied claim) require additional time, this decision will be rendered as soon as possible, but not later than 120 days after receipt of the claimant’s written
appeal and only if the Committee notifies the claimant, in writing, that it needs more time to review an appeal and why that additional time is needed. 
  
 7.08 Arbitration. Binding arbitration will be the exclusive means of resolving all disputes or questions not resolved to the claimant’s satisfaction
through the claims procedure described in Section 7.07. 
  
 [1] After exhausting the procedures described in Section 7.07, the claimant may initiate arbitration by giving written notice to the Committee specifying the subject of the requested arbitration. 
  
 [2] The arbitration will take place in Columbus, Ohio (or another
location mutually agreed upon by the claimant and the Committee) and will be conducted in accordance with the rules of the American Arbitration Association in effect when the arbitration begins by three arbitrators, one appointed by each party and a
third appointed by those two arbitrators. The Committee and the claimant (in his own behalf and on behalf of all other claimants) each waive any right to a jury trial with respect to any matter arising from this Plan. 
  
 [3] Any determination or award made or approved by the arbitrator
will be final and binding on the claimant and the Employer. Judgment upon any award made in any arbitration may be entered and enforced in any court having competent jurisdiction. 
  
 [4] The arbitrators will have no authority to add to, alter, amend or refuse to enforce any portion of this Plan or
to award punitive damages against the Employer or the claimant. 
  
 [5] The costs of arbitration (excluding legal and other professional fees incurred) will be borne solely by the Employer regardless of the result of the arbitration. 
  
 8.00 Plan Amendment 
  
 The Company, by action of the Board, may modify, alter or amend the Plan at any time. However, no amendment may affect any Member’s or Beneficiary’s right to
receive the value of benefits accrued under the Plan before the effective date of that amendment unless the affected 
  

 12 

 Member agrees to that reduction in a separate written agreement. If an amendment changes the vesting schedule described
in Section 4.04, an affected Member may elect to have his or her vested rights computed without regard to that amendment, but only if the affected Member files a written election to this effect with the Committee during the period beginning on the
date the amendment is adopted and ending on the later of [1] 60 days after the date the amendment is adopted, [2] 60 days after the amendment is effective or [3] 60 days after the affected Member is issued a written notice of
the amendment. 
  
 9.00 Termination of Plan 
  
 9.01 Right to Terminate. The Company, by action of the Board, may terminate the Plan
in whole or in part at any time. However, no termination may affect any Member’s or Beneficiary’s right to receive the value of benefits accrued under the Plan before the effective date of that termination unless the affected Member agrees
to that reduction in a separate written agreement and each Member affected by that termination will be fully vested in their Plan Account. The Committee may [1] distribute an affected Member’s Account at the time the Plan terminates or
partially terminates, even if this date is earlier than the date benefits otherwise would be distributed under Section 5.00 or [2] hold those benefits until they are otherwise payable under the terms of the Plan. However, no change to an Enrollment
Form or a Notice of Participation will constitute a Plan amendment for purposes of this section. 
  
 9.02 Automatic Termination. This Plan will automatically terminate as of the date all Members and their Beneficiaries have received all of the benefits due under the terms of this document. 
  
 9.03 Merger and Consolidation. If the Plan is merged into or consolidated with any
other plan, each affected Member will be entitled to a benefit immediately after the merger or consolidation (determined as if the surviving plan had then terminated) at least equal to the benefit he or she had accrued immediately before the merger
or consolidation (determined as if the Plan terminated immediately before that merger or consolidation). 
  
 9.04 Successor Employer. If the Employer dissolves, reorganizes, merges into or consolidates with another entity, provision may be made by which the successor will continue the Plan, in which case the successor
will be substituted for the Employer under the terms and provisions of this Plan. The substitution of the successor for the Employer will constitute an assumption by the successor of all Plan liabilities and the successor will have all of the
powers, duties and responsibilities of the Employer under the Plan. 
  
 10.00 Funding 
  
 This Plan constitutes an unfunded, unsecured
promise by the Employer to pay only those benefits that are accrued by Members under the terms of the Plan. Neither the Company nor any other Group Member is required to segregate any assets into a fund established exclusively to pay Plan benefits
unless the Company, in its sole discretion, establishes a trust for this purpose. Neither the Company nor any other Group Member will be liable for the payment of Plan benefits that 
  

 13 

 are actually paid from a trust established for that purpose. Also, Members have only the rights of a general unsecured
creditor and do not have any interest in or right to any specific asset of any Group Member. Nothing in this Plan constitutes a guaranty by any Group Member or any other entity or person that the assets of the Employer or any other entity will be
sufficient to pay Plan benefits. 
  
 11.00 Miscellaneous

  
 11.01 Voluntary Plan. The Plan is purely voluntary on the part of
the Employer; neither the establishment of the Plan nor any amendment to it nor the creation of any fund or account nor the payment of any benefits may be construed as giving any person [1] a legal or equitable right against any Group Member
or the Committee other than those specifically granted under the Plan or conferred by affirmative action of the Company or the Employer in a manner that is consistent with the terms and provisions of this Plan or [2] the right to be retained
as an employee. 
  
 11.02 Nonalienation of Benefits. Except as specifically
provided in this document, Members’ rights to receive Plan benefits may not be assigned, transferred, pledged or encumbered, including by will or by applicable laws of descent and distribution. Any attempt by a Member to assign, transfer,
pledge, encumber or devise a Plan benefit will be null and void and of no legal effect. 
  
 11.03 Inability to Receive Benefits. Any Plan benefit payable to a Member or Beneficiary after he or she is declared incompetent will be paid to the guardian, conservator or other person legally charged with the care of his or her
person or estate. Also, if the Committee, in its sole discretion, concludes that a Member or Beneficiary is unable to manage his or her financial affairs, the Committee may, but is not required to, direct the Employer to distribute Plan benefits to
any one or more of his or her spouse, lineal ascendants or descendants or other close living relatives of the Member or Beneficiary who demonstrate to the satisfaction of the Committee the propriety of those distributions. Any payment made under
this section will completely discharge the Plan’s liability with respect to that payment. The Committee is not required to see to the application of any distribution made to any person. 
  
 11.04 Lost Distributees. Each Member and Beneficiary is obliged to keep the Committee
apprised of his or her current mailing address. The Committee’s obligation to search for any Member or Beneficiary is limited to sending a registered or certified letter to the Member’s or Beneficiary’s last known address. If the
Member or Beneficiary does not file a claim for benefits with the Committee, all unpaid Plan benefits will be forfeited no later than 12 months after benefits are otherwise payable. 
  
 11.05 Limitation of Rights. Nothing in the Plan, expressed or implied, is intended or may be construed as conferring upon or giving
to any person, firm or association (other than the Employer, Members and Beneficiaries) any right, remedy or claim under or by reason of this Plan. 
  

 14 

 11.06 Invalid Provision. If any provision of this Plan is held to be illegal or invalid for any reason, the Plan
will be construed and enforced as if the offending provision had not been included in the Plan. However, that determination will not affect the legality or validity of the remaining parts of this Plan. 
  
 11.07 One Plan. This Plan may be executed in any number of counterparts, each of which
will be deemed to be an original. 
  
 11.08 Governing Law. The Plan will be
governed by and construed in accordance with the laws of the United States and, to the extent applicable, the laws of Ohio. 
  
 11.09 Coordination with Other Plans. Members’ rights to any benefits accrued or payable under this Plan will be determined solely by reference to the terms of
this Plan document and will be unaffected by any other document or agreement between Members and the Employer. 
  
 11.10 Extension of Plan to Group Members. By action of its Board of Directors, the Company may extend participation of this Plan to other Group Members but only if the boards of directors or governing body of
the other Group Members accept participation in the Plan, agree to the terms of the Plan and delegate to the Company and the Committee the authority to amend, terminate and administer the Plan according to its terms. 
  

			
	 	 	DOMINION HOMES, INC.
	By:	 	  

	Title:	 	  

  

 15 

 ATTACHMENT A 
  
 TO 
  
 DOMINION HOMES, INC. 
  
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
  
 AMENDED AND RESTATED EFFECTIVE JUNE 8, 2004 
  
 NOTICE OF PARTICIPATION 
  
 You have been designated as a Participant in the Dominion Homes, Inc. Supplemental Executive Retirement Plan. Your participation is subject to the terms of the Plan (a
complete copy of which is attached) and to the additional terms described in this notice. However, there are several things you should know: 
  
 First, your participation is subject to the terms and conditions specified in the Plan and in this notice. 
  
 Second, several terms used in this notice are defined in the Plan. These terms are capitalized. To be sure that you understand the effect of
your participation, you should review the Plan document carefully. 
  
 Finally,
you must sign this form and return a copy to the Committee at the address shown at the end of this notice. You also must complete and return to the Committee a completed Enrollment Form. Instructions for completing the Enrollment Form are included
in that form. 
  
 If you have any questions about this notice, please contact the
Committee at the address shown at the end of this notice. 
  
 1.00 Terms of Participation 
  
 The Plan imposes several
conditions on the promised benefit. Many of these are unique to each Participant. In your case, the following provisions will apply: 
  

	 	•	Your participation is effective on
                        . 

  

	 	•	The amount of the Employer Contribution (see Plan Sections 2.12 and 4.01) will be: 

  

	 	•	$            , for 200            ; and

  

	 	•	$            , for subsequent years, plus any additional amount specified by the Committee.

  

	 	•	Your Triggering Events (see Plan Sections 2.26 and 4.04) will be: 

  

 16 

	 	•	The date you complete              months of Plan participation and the Company’s net worth (calculated by
applying standard accounting principles) first exceeds $                         (both conditions must be met before this
Triggering Event will occur); or 

  

	 	•	A Change in Control. 

  
 2.00 Acknowledgement 
  
 I acknowledge and agree, on my own behalf and on behalf of my Beneficiary and my heirs and assigns, that [1] the Plan is unfunded and is maintained primarily for the purpose of providing deferred compensation to a select group of management
or highly compensated employees (as defined in the Employee Retirement Income Security Act of 1974, as amended), [2] I may lose all or part of my Plan benefit (including any unpaid installments) if my employer becomes bankrupt, [3] I may not earn a
benefit for any period I am not an Eligible Employee, [4] I have no right or claim to receive amounts credited to my Accounts other than those specifically granted by the terms of the Plan, [5] I have read and understand the terms of the Plan, [6]
any disputes relating to the Plan must be resolved through procedures described in Plan Sections 7.07 and 7.08 and [7] if I “compete” (as defined in Plan Section 5.04) I agree to repay any Plan benefit I have received. 
  

			
	
	    	

	                                 Date
	    	Signature
		
	 	    	  

	 	    	Name (please print)

  
 **************

  
 Return this signed notice to the Committee at the following address:

  

			
	 	 	  

	 	 	  

	 	 	  

	 	 	  

  

	 Received by Committee
on:                                    
  
  

	 By:                                      
                                        
  

  

 17 

 ATTACHMENT B 
  
 TO 
  
 DOMINION HOMES, INC. 
  
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
  
 AMENDED AND RESTATED EFFECTIVE JUNE 8, 2004 
  
 ENROLLMENT FORM 
  
 1.00 Instructions for Completing This Form 
  
 You must complete, sign and return this form to the Committee at the address shown at the end of this form before you may participate in the Dominion Homes, Inc. Supplemental Executive Retirement Plan. However, before
doing so, there are several things you should know. 
  
 First, the terms of your
participation are described in a separate Notice of Participation. Be sure you review these terms carefully. 
  
 Second, several terms used in this form are defined in the Plan. These terms are capitalized. You should review the Plan document carefully to be sure you understand the effect of your elections. 
  
 Third, the elections you make in this form will remain in effect until they are changed. You
may change the elections you make in this form. However, there are some limits on when these changes may be made and the time any changes become effective. These are explained in the Plan. You should ensure that you understand the effect of any
change before it is made. 
  
 Fourth, if you change any of your elections, you may
do so only by completing and delivering to the Committee (at the address shown at the end of this form) a revised form that includes: 
  

	 	•	All the information specified in Part 2.00 (Identification of Participant) of this form and sign Part 5.00 (Acknowledgement) of this form. This information is needed to ensure that
the Committee is fully apprised of this information; and 

  

	 	•	The substance of the new election only [e.g., if you are naming a new Beneficiary, you need not complete other parts of this form, although Part 2.00 (Identification of Participant)
always must be completed]. 

  
 If you have any questions about this
form, please contact the Committee at the address shown at the end of this form. 
  

 18 

 2.00 Identification of Participant 
  
 Note: This part of this form must be completed whenever you file this form; any revisions or elections made without completing this part
of this form will be ignored. 
  
 Name:
                                        
                                        
                                       
                                        
          
  
 Soc. Sec. No.:
                                        
                                        
                                        
                                     
  
 Date of Birth:
                                        
                                        
                                        
                                     
  
 Address:
                                        
                                        
                                        
                                        
     
  
 3.00 Designation of Beneficiary

  
 3.01 Primary Beneficiary: 
  
 I designate the following persons as my Primary Beneficiary or Beneficiaries to receive the
portion of my Account that is not distributed to me after Termination but before my death (see Plan Section 5.00). This benefit will be paid, in the proportion specified, to: 
  

			
	             % to
	 	  

	 	 	(Name)                                      
                                        
              (Relationship)
	 Address:
	 	  

		
	             % to
	 	(Name)                                      
                                        
              (Relationship)
	 Address:
	 	  

		
	             % to
	 	(Name)                                      
                                        
              (Relationship)
	 Address:
	 	  

		
	             % to
	 	(Name)                                      
                                        
              (Relationship)
	 Address:
	 	  

  

 19 

 3.02 Contingent Beneficiary: 
  
 If one or more of my Primary Beneficiaries dies before I die, I direct that any Plan death
benefit that might otherwise have been paid to that Beneficiary: 
  

			
	  

	 	Be paid to my other named Primary Beneficiaries in proportion to the allocation given above (ignoring the interest allocated to the deceased Primary Beneficiary); or
	  

	 	 Be distributed among the following Contingent Beneficiaries.

  

			
	             % to
	 	  

	 	 	(Name)                                      
                                        
              (Relationship)
	 Address:
	 	  

		
	             % to
	 	(Name)                                      
                                        
              (Relationship)
	 Address:
	 	  

		
	             % to
	 	(Name)                                      
                                        
              (Relationship)
	 Address:
	 	  

		
	             % to
	 	(Name)                                      
                                        
              (Relationship)
	 Address:
	 	  

  
 4.00 Distributions

  
 Normally, your Plan benefit will be distributed in a lump sum shortly
after you Terminate. However, [1] you must elect whether you want to receive this payment in cash or by receiving the life insurance policy or other property which is being used to fund this benefit and [2] if you decide you want to
receive your benefit in cash, you may elect to have your Plan benefit distributed in as many as 10 annual installments and may elect to have your payment begin at some date after you Terminate (but benefits always must begin shortly after you reach
age 65 or when you terminate employment, whichever is latest). However, these payment options are available only if this election is made at least 12 months before you Terminate. 
  
 Also, if you make this election but change your mind (e.g., you decide you do not want to receive annual installments), this election may be
revoked but only if you deliver another completed Enrollment Form to the Committee before you Terminate. Any revocation delivered after that date will be ignored. Check as appropriate 
  

 20 

              Subject to Plan rules and
restrictions, I choose to receive my Plan benefit in              cash or              by receiving the life
insurance contract or other property that is being used to fund my Plan benefit. 
  
              Subject to Plan rules and restrictions, I choose to receive my Plan benefit in a lump sum as soon as administratively practicable after
my              birthday (may not be later than 65). 
  
 Note: Your benefits will not begin before you terminate employment even if you work past age 65. In this case, benefits will begin as soon as administratively
practicable after you terminate. 
  
              Having elected to receive my Plan benefit in cash, and subject to Plan rules and restrictions, I choose to receive my Plan benefit in
             annual installments (may not be more than 10) beginning on: 
  
              As soon as administratively practicable after I Terminate; or 

 
              As soon as administratively practicable after my              birthday (may not be later than
65). 
  
 Note: You may elect installment payments only if you also have elected
to receive your Plan benefit in cash (if you elected to receive the insurance policy or other property being used to fund your Plan benefit, you may not elect installment distributions). 
  
 5.00 Acknowledgement 
  
 I acknowledge and agree, on my own behalf and on behalf of my Beneficiary and my heirs and
assigns, that [1] the Plan is unfunded and is maintained primarily for the purpose of providing deferred compensation to a select group of management or highly compensated employees (as defined in the Employee Retirement Income Security Act
of 1974, as amended), [2] I may lose all or part of my Plan benefit (including any unpaid installments) if my Employer becomes bankrupt, [3] I may not earn a benefit for any period I am not an Eligible Employee, [4] I may change
the elections made in this Enrollment Form only if I comply fully with the rules described in this form and in the Plan, [5] I have read and understand the terms of the Plan, [6] any disputes relating to the Plan must be resolved
through procedures described in Plan Sections 7.07 and 7.08 and [7] I am solely responsible for ensuring that the Committee’s files contain my current mailing address and that of my Beneficiary. 
  

			
	
	    	

	                                     Date
	    	Signature
	 	    	  

	 	    	Name (please print)

  
 *************** 
  

 21 

 Return this signed form to the Committee at the following address: 
  

			
	 	 	  

	 	 	  

	 	 	  

	 	 	  

	
	 Received by Committee
on:                    

	
	 By:                                      
                                        
  

  

 22 

 DOMINION HOMES, INC. 
  
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
  
 AMENDED AND RESTATED EFFECTIVE JUNE 8, 2004 
  
 ACKNOWLEDGEMENT OF AMENDMENT AND RESTATEMENT 
  
 By signing below, I reaffirm the acknowledgements and agreements made when I joined the Dominion Homes, Inc. Supplement Executive Retirement
Plan and also acknowledge and agree, on my own behalf and on behalf of my Beneficiary and my heirs and assigns, that [1] I understand that the Plan has been amended and restated effective June 8, 2004; [2] I have received, read and
understand the effect of that amendment and restated and [3] agree to and accept application of the amended and restated document to my Plan Account. 
  

			
	
	 	

	Date	 	Signature
	 	 	

	 	 	Name (please print)

  
 *************** 
  
 Return this signed form to the Committee at the following address: 
  

			
	 	 	  

	 	 	  

	 	 	  

	 	 	  

	
	 Received by Committee
on:                    

	 By:                                      
                                        
  

  

 23

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