Amendment No. 1 to Employment Agreement Between Stewart Enterprises, Inc. and G. Kenneth Stephens, Jr.

Summary

This amendment updates the employment agreement between Stewart Enterprises, Inc. and G. Kenneth Stephens, Jr. It changes his title to Executive Vice President and President — Western Division, sets his base salary at $325,000 effective August 1, 2005, and allows for a potential $25,000 salary increase in 2006 based on performance. For fiscal year 2006, he may receive a bonus of up to 130% of his base salary, depending on criteria set by the Compensation Committee. His main work location will be in the Dallas, Texas area.

EX-10.3 4 h29565exv10w3.htm AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT - G. KENNETH STEPHENS, JR. exv10w3

Exhibit 10.3

Amendment No. 1 to
Appendix A to Employment Agreement
Between Stewart Enterprises, Inc.
and
G. Kenneth Stephens, Jr.

Base Salary, Bonus Compensation and Benefits

1.		Effective July 14, 2005, Employee’s title(s) shall be Executive Vice President and President — Western Division. Effective August 1, 2005, Employee’s Base Salary shall be $325,000. Effective August 1, 2006, Employee shall be eligible for a Base Salary increase of $25,000 per year, based upon the achievement of performance criteria to be established by the Compensation Committee. Employee’s principal work location shall be the Dallas, Texas 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 $422,500) 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/G. KENNETH STEPHENS, JR.
	G. Kenneth Stephens, Jr.