Amendment No. 8 to Stewart Enterprises Employee Retirement Trust (Profit Sharing Plan) Trust Agreement

Summary

Stewart Enterprises, Inc. amends its Employee Retirement Trust, a profit sharing plan, to update how forfeited funds from participants who are not fully vested are handled. Effective January 1, 2004, forfeitures may occur if a participant receives a distribution or has five consecutive years of no service. Forfeited amounts will be used to pay plan administrative expenses or reduce employer contributions. The amendment also allows forfeiture of certain contributions by highly compensated employees under specific conditions. The amendment is signed by company representatives and witnesses.

EX-10.29 16 h21597exv10w29.txt AMENDMENT TO THE EMPLOYEES' RETIREMENT TRUST EXHIBIT 10.29 EXHIBIT A AMENDMENT NO. 8 TO THE STEWART ENTERPRISES EMPLOYEE RETIREMENT TRUST (A PROFIT SHARING PLAN) TRUST AGREEMENT WHEREAS, Stewart Enterprises, Inc. (the "Company") sponsors the Stewart Enterprises Employee Retirement Trust (A Profit Sharing Plan) Trust Agreement (the "Plan"), which was originally adopted January 1, 1981, and has been amended from time to time; WHEREAS, Section 15.1 of the Plan provides that the Plan can be amended by the Company or the Administrative and Investment Committee of the Plan; and WHEREAS, it is the desire of the Company to amend the Plan to change the disposition of forfeitures by participants who are not fully vested; NOW, THEREFORE, the Plan is hereby amended as follows, effective January 1, 2004: Section 9.7, FORFEITURES, is amended and restated to read as follows: 9.7 FORFEITURES If a Participant has separated from Service, any balance in the account of the Participant to which he or she is not entitled under the foregoing provisions, shall be forfeited. A forfeiture may only occur if the Participant has received a distribution from the Plan or if the Participant has incurred five consecutive one-year Breaks in Service. Furthermore, a Highly Compensated Employee's Matching Employer Contributions may be forfeited, even if vested, if the contributions to which they relate are Excess Deferrals, Excess Contributions or Excess Aggregate Contributions. Forfeitures shall be used to offset administrative expenses of the Plan or to offset Employer Contributions under Article III of the Plan. * * * * THUS DONE AND SIGNED in Jefferson, Louisiana on the 29th day of December, 2004, in the presence of the undersigned competent witnesses. STEWART ENTERPRISES, INC. BY: /s/ PHILIP G. SPRICK ________________________________ ---------------------- Witness Philip G. Sprick Senior Administrative Officer and ________________________________ Chairman, Plan Administrative and Witness Investment Committee