Document:

2006 Incentive Compensation Program for William G. Cornely

 Exhibit 10.3 
 Dominion Homes, Inc. 
 2006 Incentive Compensation Program 
 William G. Cornely, Senior Vice President of Finance and CFO 
 Net Income (40% of Total) 
  

				
	 Goal
	  	    Award    
	 Target
	  	$	30,000
	 Stretch
	  	$	75,000
	 Exceptional
	  	$	125,000

 Corporate Debt Management (40% of Total) 
  

				
	 Goal
	  	    Award    
	 100% of Target Debt Reduction
	  	$	30,000
	 133% of Target Debt Reduction
	  	$	75,000
	 166% of Target Debt Reduction
	  	$	125,000

 Customer Satisfaction (20% of Total) 
  

				
	 Goal
	  	    Award    
	 94%
	  	$	15,000
	 95%
	  	$	37,500
	 96%
	  	$	62,500

 Mr. Cornely will be entitled to receive a guaranteed minimum bonus for 2006
of $100,000.2006 Incentive Compensation Program for David S. Borror

 Exhibit 10.4 
 Dominion Homes, Inc. 
 2006 Incentive Compensation Program 
 David S. Borror, Corporate Executive Vice President 
 Net Income (40% of Total) 
  

				
	 Goal
	  	    Award    
	 Target
	  	$	30,000
	 Stretch
	  	$	75,000
	 Exceptional
	  	$	125,000

 Corporate Debt Management (40% of Total) 
  

				
	 Goal
	  	    Award    
	 100% of Target Debt Reduction
	  	$	30,000
	 133% of Target Debt Reduction
	  	$	75,000
	 166% of Target Debt Reduction
	  	$	125,000

 Customer Satisfaction (20% of Total) 
  

				
	 Goal
	  	    Award    
	 94%
	  	$	15,000
	 95%
	  	$	37,500
	 96%
	  	$	62,500EXHIBIT 4.4.2

 Exhibit 4.4.2 
 AMENDMENT NO. 1 TO WARRANT AGREEMENT 
 THIS AMENDMENT NO. 1 TO WARRANT AGREEMENT, dated as of
December 21, 2005 (this “Amendment”), is between ITC^DeltaCom, Inc., a Delaware corporation (the “Company”), and Mellon Investor Services LLC, a New Jersey limited liability company, as warrant
agent (the “Warrant Agent”). 
 W I T N E S S E T H: 
 WHEREAS, the Company and the Warrant Agent are parties to a Warrant Agreement, dated as of July 26, 2005 (the “Agreement”),
pursuant to which the Company may effect the original issuance of up to 16,175,000 warrants; 
 WHEREAS, as of July 26, 2005, the
Company issued 9,000,000 warrants pursuant to the Securities Purchase Agreement, dated as of July 26, 2005, among the Company and the other parties identified therein; 
 WHEREAS, as of the date of this Amendment, the Company proposes to issue 703,505 additional warrants; 
 WHEREAS, the Holders (as such term is defined in the Agreement) of a majority of such warrants outstanding as of the date hereof have consented in
writing to this Amendment in accordance with Section 12(a) of the Agreement; and 
 WHEREAS, the Company wishes to amend the Agreement
pursuant to such consent, as hereinafter provided; 
 NOW, THEREFORE, in consideration of the promises and the mutual agreements herein set
forth, the parties hereby agree as follows: 
 SECTION 1. CAPITALIZED TERMS. 
 Capitalized terms used in this Amendment and not defined herein have the meanings given to such terms in the Agreement. 
 SECTION 2. AMENDMENT TO SECTION 3 OF AGREEMENT. 
 Section 3 of the Agreement is hereby amended by adding thereto a new Section 3(k), which shall read in its entirety as follows: 
 (k) Notwithstanding any other provision of this Section 3 or any other provision of this Agreement to the contrary, any Holder that is named in a Deferred Exercise Instruction delivered by the Company to the
Warrant Agent may exercise such Holder’s Warrants only on the date or dates during the Exercise Period specified in such Deferred Exercise Instruction. In order to exercise any such Warrants, such Holder must deliver a Notice of Deferred
Exercise to the Warrant Agent at its office set forth in Section 11 in addition to the documents set forth in Section 3(b). The 

 Warrant Agent may rely on such Deferred Exercise Instruction and the Notice of Deferred Exercise in
carrying out its duties under this Agreement and shall be deemed not to have any knowledge of the foregoing unless and until it shall have received such Deferred Exercise Instruction and the Notice of Deferred Exercise. 
 SECTION 3. AMENDMENT TO SECTION 15 OF AGREEMENT. 
 Section 15 of the Agreement is hereby amended by adding thereto, in the appropriate alphabetical order, the following definitions, which shall read in their entirety as follows: 
 “Deferred Exercise Instruction” means a written instruction, executed by a Holder and the Company by an Officer
thereof, which shall be delivered by the Company to the Warrant Agent and which shall (i) identify the Warrants registered in the name of such Holder in the register of Warrants maintained by the Warrant Registrar and (ii) state the date
or dates during the Exercise Period on which such Holder may exercise the Warrants so identified. Any such written instruction delivered to the Warrant Agent after the delivery of any previous written instruction shall supersede such previous
written instruction to the extent indicated in such later-delivered written instruction. 
 “Notice of Deferred
Exercise” means a written notice, executed by a Holder and countersigned by the Company by an Officer thereof, which shall be delivered by such Holder to the Warrant Agent in connection with such Holder’s exercise of any Warrants
and in which such Holder shall certify to the Warrant Agent that the exercise date of such Warrants is a date specified in a Deferred Exercise Instruction by such Holder which is then in effect. 
 SECTION 4. EFFECTIVENESS. 
 This Amendment shall be
effective as of the date hereof. From and after the effectiveness of this Amendment, each reference in the Agreement to “this Agreement” shall mean the Agreement as amended by this Amendment. Except as amended by this Amendment, the terms
and provisions of the Agreement shall remain unchanged. 
 SECTION 5. GOVERNING LAW. 
 This Amendment shall be deemed to be a contract made under the laws of the State of New York and for all purposes shall be construed in accordance with
the internal laws of the State of New York, without giving effect to principles of conflict of laws to the extent the application of the laws of another jurisdiction would be required thereby. 
 [signature page follows] 
  

 2 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed, as of the day and
year first above written. 
  

			
	ITC^DELTACOM, INC.
		
	By:	 	 /s/ J. Thomas Mullis

	Name:	 	J. Thomas Mullis
	Title:	 	Senior Vice President-Legal and Regulatory
	
	 MELLON INVESTOR SERVICES LLC
 as
Warrant Agent

		
	By:	 	 /s/ Judy Hsu

	Name:	 	Judy Hsu
	Title:	 	Vice President

  

 3EXHIBIT 4.8

 Exhibit 4.8 
  

					
	8% SERIES C CONVERTIBLE	 		 	8% SERIES C CONVERTIBLE
	REDEEMABLE PREFERRED STOCK	 		 	REDEEMABLE PREFERRED STOCK
		 		 	
	NUMBER	 		 	SHARES
	C	 		 	
		 		 	
		 	ITC^DeltaCom	 	
		 		 	
	 INCORPORATED UNDER THE LAWS OF
 THE STATE OF DELAWARE
	 		 	 SEE REVERSE FOR
 CERTAIN DEFINITIONS

		 		 	
		 		 	CUSIP 45031T 88 0
		 		 	
	This certifies that	 		 	
		 		 	
		 		 	
		 		 	
	is the owner of	 		 	
		 		 	

 FULLY PAID AND NON-ASSESSABLE SHARES OF THE 8% SERIES C CONVERTIBLE REDEEMABLE PREFERRED STOCK, PAR
VALUE OF $.01 PER SHARE, OF 
 ITC^DeltaCom 
 (hereinafter, the “Corporation”) transferable on the books of the Corporation by the holder hereof in person or by duly authorized attorney upon surrender of this certificate properly endorsed. 
 This certificate and the shares represented hereby are issued and shall be held subject to all of the provisions of the Certificate of Incorporation and Bylaws of the
Corporation and all amendments thereto, copies of which are on file with the Transfer Agent, to all of which the holder of this certificate by acceptance hereof assents. This certificate is not valid unless countersigned and registered by the
Transfer Agent and Registrar. 
 WITNESS the facsimile seal of the Corporation and the facsimile signatures of the duly authorized officers
of the Corporation. 
  

					
	 Dated:
	 		 	
		 	SEAL	 	
	/s/ J. Thomas Mullis	 		 	/s/ Sara L. Plunkett
	SECRETARY	 		 	VICE PRESIDENT
		 		 	
	 Countersigned and Registered:
	 		 	
		 	 MELLON INVESTOR SERVICES LLC
	 	
		 		 	 Transfer Agent
 and Registrar

	 By
	 		 	
		 		 	
		 		 	
		 		 	Authorized Signature
		 		 	
		 		 	
		 		 	

  
  
  
  
  
  

 ITC/\DeltaCom, Inc. 
 THE SECURITIES EVIDENCED BY THIS CERTIFICATE SHALL BE REDEEMABLE AS PROVIDED IN THE CERTIFICATE OF DESIGNATION AND THE CORPORATION’S CERTIFICATE OF INCORPORATION AND SHALL BE CONVERTIBLE INTO THE CORPORATION’S COMMON STOCK IN THE
MANNER AND ACCORDING TO THE TERMS SET FORTH IN THE CERTIFICATE OF DESIGNATION. 
 THE CORPORATION IS AUTHORIZED TO ISSUE MORE THAN ONE CLASS OR SERIES OF
CAPITAL STOCK. THE CORPORATION SHALL FURNISH TO ANY HOLDER UPON REQUEST AND WITHOUT CHARGE THE POWERS. DESIGNATIONS, PREFERENCES AND RELATIVE, PARTICIPATING, OPTIONAL OR OTHER SPECIAL RIGHTS OF EACH CLASS OF STOCK OR SERIES THEREOF AND THE
QUALIFICATIONS, LIMITATIONS OR RESTRICTIONS OF SUCH PREFERENCES AND/OR RIGHTS OF EACH CLASS OR SERIES AUTHORIZED TO BE ISSUED BY THE CORPORATION SO FAR AS THEY HAVE BEEN FIXED AND DETERMINED AND OF THE AUTHORITY OF THE BOARD OF DIRECTORS TO FIX AND
DETERMINE THE DESIGNATIONS, VOTING RIGHTS, PREFERENCES, LIMITATIONS AND SPECIAL RIGHTS OF THE CLASSES AND SERIES OF SECURITIES OF THE CORPORATION. 
 The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations: 
  

					
	TEN COM	 	— as tenants in common UNIF GIFT MIN ACT	  	—_____ Custodian ____
	TEN ENT	 	— as tenants by the entireties	  	      (Cust)             (Minor)
	JT TEN	 	 — as joint tenants with right of survivorship and not as tenants in common
	  	under Uniform Gifts to Motors
Act__________________________
(State)

 Additional abbreviations may also be used though not in the above list. 
 FOR VALUED RECEIVED, _______________________________ hereby sells, assigns and transfers unto 
  

					
	 PLEASE INSERT SOCIAL SECURITY OR OTHER
 IDENTIFYING NUMBER OF ASSIGNEE
	 		 	
			
	  	 		 	
			
	 	 	 	 	 
			
	 	 	 	 	 

 (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

  
  

  
  

  
  

 Shares of the capital stock represented by this Certificate, and does hereby irrevocably constitute and appoint 
  
  

 Attorney to transfer the said stock on the books
of the Corporation with full power of substitution in the premises 
  

					
	Dated	 		 	
	  	 		 	

  

					
		 	 X

		
		 	 X

		 	 NOTICE: THE SIGNATURE(S) TO THIS ASSIGNMENT MUST
 CORRESPOND WITH THE NAME(S) AS WRITTEN UPON THEFACE
 OF THE CERTIFICATE IN EVERY
PARTICULAR. WITHOUT
 ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.

 SIGNATURE(S) GUARANTEED: 
 By 

 THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM),
PURSUANT TO SEC RULE 17Ad-15.

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