Second Supplement to Employment Agreement Between Stewart Enterprises, Inc. and Everett N. Kendrick

Summary

This agreement is a supplement to the employment contract between Stewart Enterprises, Inc. and Everett N. Kendrick. It specifies that Mr. Kendrick is eligible for a bonus of up to $275,000 for fiscal year 2003 and up to $300,000 for fiscal year 2004, with the actual bonus amount for 2003 determined by criteria set by the company's Compensation Committee. No other terms of the original agreement are changed by this supplement.

EX-10.5 7 d08504exv10w5.txt EX-10.5 SUPPLEMENT TO EMPLOYMENT AGREEMENT Second Supplement to Appendix A to Employment Agreement Between Stewart Enterprises, Inc. and Everett N. Kendrick Base Salary, Bonus Compensation and Benefits -------------------------------------------- 2. For Fiscal Year 2003 ("FY 2003"), the Employee shall be eligible to receive a Bonus of up to $275,000. For Fiscal Year 2004, the Employee shall be eligible to receive a Bonus of up to $300,000. (a) Maximum Bonus potential for FY 2003 will be determined based on the criteria approved by the Compensation Committee of the Board of Directors. No other items or portions of items in Appendix A as previously supplemented are affected by this Supplement. Agreed to and accepted: STEWART ENTERPRISES, INC. Date: June 25, 2003 By: /s/ JAMES W. MCFARLAND ---------------------- James W. McFarland Compensation Committee Chairman EMPLOYEE Date: June 25, 2003 /s/ EVERETT N. KENDRICK ------------------------ Everett N. Kendrick