Amendment No. 1 to Employment Agreement Between Stewart Enterprises, Inc. and Everett N. Kendrick

Summary

This amendment updates the employment agreement between Stewart Enterprises, Inc. and Everett N. Kendrick. Effective July 14, 2005, Kendrick's titles are Chief Operating Officer, Executive Vice President, and President of the Sales and Marketing Division. His base salary is set at $350,000 as of August 1, 2005, with a potential $50,000 increase in 2006 based on performance. For fiscal years 2006 and 2007, he may receive a bonus of up to 130% of his base salary, subject to performance criteria set by the Compensation Committee. His main work location is New Orleans, Louisiana.

EX-10.1 2 h29565exv10w1.htm AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT - EVERETT N. KENDRICK exv10w1

Exhibit 10.1

Amendment No. 1 to
Appendix A to Employment Agreement
Between Stewart Enterprises, Inc.
and
Everett N. Kendrick

Base Salary, Bonus Compensation and Benefits

1.		Effective July 14, 2005, Employee’s title(s) shall be Chief Operating Officer, Executive Vice President and President — Sales and Marketing Division. Effective August 1, 2005, Employee’s Base Salary shall be $350,000. Effective August 1, 2006, Employee shall be eligible for a Base Salary increase of $50,000 per year, based upon the achievement of performance criteria to be established by the Compensation Committee. Employee’s principal work location shall be the New Orleans, Louisiana metropolitan area.

2.		Paragraph 2 of Appendix A is unaffected by this amendment and remains in full force and effect.

3.		For Fiscal Year 2006, the Employee shall be eligible to receive a maximum Bonus of up to 130% of his Base Salary (or up to $455,000) and for Fiscal Year 2007, the Employee shall be eligible to receive a maximum Bonus of up to 130% of his Base Salary (or up to $520,000), in each case based on such performance criteria as the Compensation Committee shall deem appropriate in its discretion.


	Agreed to and accepted: STEWART ENTERPRISES, INC.
Date: October 11, 2005	By:	/s/ JAMES W. MCFARLAND
		James W. McFarland
	Compensation Committee Chairman


	EMPLOYEE
Date: October 11, 2005	/s/EVERETT N. KENDRICK
	Everett N. Kendrick

A-1