Document:

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                                                                   Exhibit 10.20

                 AMENDED AND RESTATED STEWART ENTERPRISES, INC.

             SUPPLEMENTAL RETIREMENT AND DEFERRED COMPENSATION PLAN

                          ARTICLE I. - PURPOSE OF PLAN

1.1  PURPOSE OF PLAN. The Company intends and desires by the adoption of this
     Amended and Restated Stewart Enterprises, Inc. Supplemental Retirement and
     Deferred Compensation Plan (the "Plan") to recognize the value to the
     Company of the past and present services of Eligible Employees covered by
     the Plan and to encourage and assure their continued service with the
     Company by making more adequate provisions for their future retirement
     security.

     This Plan was adopted to provide certain highly compensated executives of
     Stewart Enterprises, Inc. covered under the STEWART ENTERPRISES EMPLOYEES'
     RETIREMENT TRUST (the "Basic Plan") the opportunity to accumulate deferred
     compensation which cannot be accumulated under the Basic Plan. The Plan
     provides a select group of management or highly compensated employees
     (within the meaning of Section 201(2), 301(a)(3), and 401(a)(1) of ERISA)
     with the opportunity to elect to defer specified portions of compensation.

     This amendment and restatement of the Plan is effective as of January 1,
     2008 except as otherwise provided. The Plan (with the exception of Appendix
     A) is intended to comply with Code Section 409A and the regulations
     thereunder. Deferrals into the Plan prior to January 1, 2005 (and Earnings
     Allocations on such deferrals) shall be governed in all respects by the
     provisions of Appendix A, which is intended to be treated as a separate
     plan under which all deferrals are "grandfathered" under Treas. Reg.
     Section 1.409A-6(a)(3)(ii).

                            ARTICLE II. - DEFINITIONS

Terms not otherwise defined herein shall have the definition ascribed to them
under the Basic Plan.

2.1  409A CHANGE OF CONTROL means a Change of Control that constitutes a change
     in the ownership or effective control of the Company or a change in the
     ownership of a substantial portion of the assets of the Company as such
     terms are defined in Treas. Reg. Section 1.409A-3(i)(5).

2.2  ACCOUNT means the Participant Accounts maintained under this Plan on the
     books of the Company for the benefit of a Participant.

2.3  ADMINISTRATOR means the person(s) or entity(ies) appointed by the Board to
     administer the Plan on its behalf. Currently, the Administrator is the
     Compensation Committee of the Board. The Administrator may delegate its
     responsibilities hereunder to one or more employees of the Company, but no
     person shall participate in any action or determination regarding his or
     her own benefits hereunder.

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2.4  BASIC PLAN means the Stewart Enterprises Employees' Retirement Trust.

2.5  BENEFICIARY means the beneficiary/ies properly designated by the
     Participant under the Basic Plan to receive benefits payable on the
     Participant's death. If a Participant fails to designate a Beneficiary, or
     if all designated Beneficiaries predecease the Participant, then the
     Participant shall be deemed to have designated the surviving spouse of the
     Participant as the designated Beneficiary. If the Participant dies without
     a designated Beneficiary (or spouse as the deemed designated Beneficiary),
     then the Participant's Beneficiary shall be deemed to be the Participant's
     estate.

2.6  BOARD means the Board of Directors of Stewart Enterprises, Inc.

2.7  CHANGE OF CONTROL means:

     (a)  the acquisition by any individual, entity or group (within the meaning
          of Section 13(d)(3) or 14(d)(2) of the Exchange Act) of beneficial
          ownership (within the meaning of Rule 13d-3 promulgated under the
          Exchange Act) of more than 30% of the outstanding shares of the
          Company's Class A Common Stock, no par value per share (the "Common
          Stock"); provided, however, that for purposes of this subsection (a),
          the following acquisitions shall not constitute a Change of Control:

          (i)  any acquisition of Common Stock directly from the Company,

          (ii) any acquisition of Common Stock by the Company,

          (iii) any acquisition of Common Stock by any employee benefit plan (or
               related trust) sponsored or maintained by the Company or any
               corporation controlled by the Company, or

          (iv) any acquisition of Common Stock by any corporation pursuant to a
               transaction that complies with clauses (i), (ii) and (iii) of
               subsection (c) of this Section 2.7; or

     (b)  individuals who, as of the date that this restated Plan is approved by
          the Compensation Committee of the Board (September 15, 2008) (the
          "Approval Date"), constitute the Board (the "Incumbent Board") cease
          for any reason to constitute at least a majority of the Board;
          provided, however, that any individual becoming a director subsequent
          to the Approval Date whose election, or nomination for election by the
          Company's shareholders, was approved by a vote of at least a majority
          of the directors then comprising the Incumbent Board shall be
          considered a member of the Incumbent Board, unless such individual's
          initial assumption of office occurs as a result of an actual or
          threatened election contest with respect to the election or removal of
          directors or other actual or threatened solicitation of proxies or
          consents by or on behalf of a person other than the Incumbent Board;
          or

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     (c)  consummation of a reorganization, merger or consolidation, or sale or
          other disposition of all or substantially all of the assets of the
          Company (a "Business Combination"), in each case, unless, following
          such Business Combination,

          (i)  all or substantially all of the individuals and entities who were
               the beneficial owners of the Company's outstanding common stock
               and the Company's voting securities entitled to vote generally in
               the election of directors immediately prior to such Business
               Combination have direct or indirect beneficial ownership,
               respectively, of 50% or more of the then outstanding shares of
               common stock, and 50% or more of the combined voting power of the
               then outstanding voting securities entitled to vote generally in
               the election of directors, of the corporation resulting from such
               Business Combination (which, for purposes of this paragraph (i)
               and paragraphs (ii) and (iii), shall include a corporation which
               as a result of such transaction controls the Company or all or
               substantially all of the Company's assets either directly or
               through one or more subsidiaries), and

          (ii) except to the extent that such ownership existed prior to the
               Business Combination, no person (excluding any corporation
               resulting from such Business Combination or any employee benefit
               plan or related trust of the Company or such corporation
               resulting from such Business Combination) beneficially owns,
               directly or indirectly, 20% or more of the then outstanding
               shares of common stock of the corporation resulting from such
               Business Combination or 20% or more of the combined voting power
               of the then outstanding voting securities of such corporation,
               and

          (iii) at least 50% of the members of the board of directors of the
               corporation resulting from such Business Combination were members
               of the Incumbent Board as of the Approval Date, or of the action
               of the Board, providing for such Business Combination; or

     (d)  approval by the shareholders of the Company of a complete liquidation
          or dissolution of the Company.

2.8  CODE means the Internal Revenue Code of 1986, as amended.

2.9  COMPANY means Stewart Enterprises, Inc. or any company that is a successor
     as a result of merger, consolidation, liquidation, transfer of assets, or
     other reorganization.

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2.10 DISABILITY means a condition of the Participant whereby the Participant:

     (a)  is unable to engage in any substantial gainful activity by reason of
          any medically determinable physical or mental impairment which can be
          expected to result in death or can be expected to last for a
          continuous period of not less than 12 months, or

     (b)  is, by reason of any medically determinable physical or mental
          impairment which can be expected to result in death or can be expected
          to last for a continuous period of not less than 12 months, receiving
          income replacement benefits for a period of not less than 3 months
          under an accident and health plan covering employees of the
          Participant's employer.

2.11 EFFECTIVE DATE means January 1, 1994, the date the Plan was originally
     effective. The Plan was previously amended effective January 1, 1997,
     January 1, 1999 and January 1, 2001. This amended and restated Plan is
     effective as of January 1, 2008.

2.12 ELIGIBLE EMPLOYEE means, for any Plan Year, an employee of the Company
     named by the Administrator as eligible to participate, in accordance with
     the purposes of the Plan.

2.13 ENTRY DATE means the first day of each calendar month.

2.14 ERISA means the Employee Retirement Income Security Act of 1974, as
     amended.

2.15 PARTICIPANT means any person designated as an Eligible Employee who
     participates in this Plan.

2.16 PLAN means the Stewart Enterprises, Inc. Supplemental Retirement and
     Deferred Compensation Plan.

2.17 PLAN COMPENSATION means the annual compensation, as defined in the Basic
     Plan, of a Participant in excess of the limitation on compensation
     contained in Code Section 401(a)(17), taking into account cost of living
     adjustments that may be made pursuant to that Code Section, from time to
     time.

2.18 PLAN YEAR means the twelve (12) month period beginning on January 1st and
     ending each December 31 during which the Plan is in effect.

2.19 SUPPLEMENTAL ELECTIVE DEFERRAL ACCOUNT means the account on the books of
     the Company to which a Participant's Supplemental Elective Deferrals under
     Section 3.1, plus earnings, are credited.

2.20 SUPPLEMENTAL EMPLOYER REGULAR MATCHING CONTRIBUTION ACCOUNT means the
     account on the books of the Company to which a Participant's Supplemental

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     Employer Regular Matching Contributions under Section 4.1, plus earnings,
     are credited.

2.21 SUPPLEMENTAL EMPLOYER REGULAR PROFIT SHARING CONTRIBUTION ACCOUNT means the
     account on the books of the Company to which a Participant's Supplemental
     Employer Regular Profit Sharing Contributions under Section 4.2, plus
     earnings, are credited.

2.22 TERMINATION OF EMPLOYMENT shall have the same meaning as "Separation from
     Service," as set forth in Treasury Regulation Section 1.409A-1(h).

2.23 UNFORESEEABLE EMERGENCY means "unforeseeable emergency," as defined in
     Treasury Regulation Section 1.409A-3(i)(3). In general, and subject to the
     provisions of such regulation, Unforeseeable Emergency means a severe
     financial hardship of the Participant or Beneficiary resulting from an
     illness or accident of the Participant or Beneficiary, the Participant's or
     Beneficiary's spouse, or the Participant's or Beneficiary's dependent; loss
     of the Participant's or Beneficiary's property due to casualty; or other
     similar extraordinary and unforeseeable circumstances arising as a result
     of events beyond the control of the Participant or Beneficiary.

2.24 VALUATION DATE means December 31st of each Plan Year and any other date
     that the Company, in its sole discretion, designates as a Valuation Date.

                ARTICLE III. I - SUPPLEMENTAL ELECTIVE DEFERRALS

3.1  SUPPLEMENTAL ELECTIVE DEFERRALS.

     (a)  An Eligible Employee may, for any Plan Year in which he or she is a
          Participant, elect to accept a reduction in compensation (salary
          and/or bonus) from the Company equal to a whole percentage of his or
          her Plan Compensation; provided, however, that such reduction shall
          not exceed fifteen percent (15%) of Plan Compensation. Supplemental
          Elective Deferrals will be credited to the Participant's Supplemental
          Elective Deferral Account.

     (b)  Salary deferral elections under this Plan must be made before the
          beginning of the Plan Year to which they apply. Bonus deferral
          elections must be made before the commencement of the 12-month (or, if
          applicable, such longer period) service period over which the bonus is
          earned (currently the service period for bonuses is the 12-month
          period from November 1 to October 31). The previous sentence
          notwithstanding, the Administrator may allow a Participant whose bonus
          is "performance based" (as defined in Treas. Reg. Section 1.409A-1(e))
          to make an election to defer bonus compensation no later than the
          deadline established by the Administrator, which shall be no later
          than 6 months prior to the end of the service period during which the
          bonus is earned (e.g. April 30 for bonuses corresponding to the
          Company's fiscal year

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          ending October 31). A Participant shall make such elections with
          respect to a coming twelve (12) month Plan Year or service period
          during such period established by the Administrator.

     (c)  Notwithstanding this Section 3.1, a Participant who is newly eligible
          for the Plan (as determined by Treas. Reg. Section 1.409A-2(a)(7)) and
          who does not participate in any other account balance type
          nonqualified plan (as determined by Treas. Reg. Section 1.409A-1(c))
          of the Company may elect to defer salary for the remainder of the
          Participant's initial Plan Year of participation, but only if such
          election is made not more than 30 days after the Participant becomes
          eligible for the Plan. In the case of bonuses, an election by such
          newly eligible Participant shall only apply to the portion of the
          bonus that is no greater than the total bonus for the service period
          multiplied by the ratio of the number of days remaining in the service
          period after the election, divided by 365 (unless such bonus is
          "performance based" (as defined in Section 3.1(b)), in which case the
          rules of Section 3.1(b) shall apply to the bonus deferral election).

     (d)  Deferrals shall be made through payroll deductions. Once made, a
          deferral election shall continue in force indefinitely, until changed
          by the Participant on a subsequent election form provided by the
          Company. Such subsequent deferral elections shall apply only to salary
          in future Plan Years and bonuses in future service periods. Once a
          Plan Year or service period has begun, Participant elections shall be
          irrevocable, unless the Participant experiences an Unforeseeable
          Emergency, or if required in order to enable the Participant to take a
          hardship withdrawal from the Basic Plan in accordance with Treas. Reg.
          Section 1.401(k)-1(d)(2). If a Participant discontinues a deferral
          election, he will not be permitted to elect to make deferrals again
          until open enrollment for the succeeding Plan Year (for salary) or
          service period (for bonuses).

                ARTICLE IV. - SUPPLEMENTAL COMPANY CONTRIBUTIONS

4.1  SUPPLEMENTAL EMPLOYER REGULAR MATCHING CONTRIBUTIONS. The Company will
     credit to each Participant's Supplemental Employer Regular Matching
     Contribution Account an amount equal to the Employer Regular Matching
     Contributions (as defined in the Basic Plan) that the Company would have
     made on behalf of the Participant under the Basic Plan if the Participant's
     Elective Deferrals could have been made to the Basic Plan instead of being
     credited under this Plan.

4.2  SUPPLEMENTAL EMPLOYER REGULAR PROFIT SHARING CONTRIBUTIONS. The Company
     may, by appropriate action, make discretionary profit sharing contributions
     on behalf of each Participant. The amount of the contribution for each
     Participant ("Supplemental Employer Regular Profit Sharing Contributions"),
     if any, will be computed by multiplying the Plan Compensation of each
     Participant by the percentage declared as an Employer Regular Profit

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     Sharing Contribution (as defined in the Basic Plan) under the Basic Plan,
     for the coinciding Plan Year under the Basic Plan. Supplemental Employer
     Regular Profit Sharing Contributions will be credited to the Participant's
     Supplemental Employer Regular Profit Sharing Contribution Account.

4.3  ELIGIBILITY FOR SUPPLEMENTAL COMPANY CONTRIBUTIONS. Notwithstanding the
     provisions of Sections 4.1 and 4.2, a Participant shall not be eligible to
     receive Supplemental Employer Regular Matching Contributions or
     Supplemental Employer Regular Profit Sharing Contributions if he or she is
     not employed on the last day of the Plan Year to which such contributions
     relate.

                              ARTICLE V. - VESTING

5.1  SUPPLEMENTAL ELECTIVE DEFERRALS. A Participant shall always be one hundred
     percent (100%) vested in amounts credited to his or her Supplemental
     Elective Deferral Account.

5.2  SUPPLEMENTAL COMPANY CONTRIBUTIONS. A Participant will always have the same
     vesting percentage in his or her Supplemental Employer Regular Matching
     Contribution Account and his or her Supplemental Employer Regular Profit
     Sharing Contribution Account as he or she has in his or her Employer
     Regular Matching and Employer Regular Profit Sharing Contribution Accounts
     under the Basic Plan.

                       ARTICLE VI. - PAYMENTS OF BENEFITS

6.1  PAYMENT OF BENEFITS. A Participant (or his or her Beneficiary) shall be
     entitled to receive a distribution equal to the vested portion of the
     Participant's Account under this Plan in the event of Termination of
     Employment, Disability, 409A Change of Control or death (a "Payment
     Event").

6.2  METHOD OF PAYMENT.

     (a)  Cash Payments. All payments under the Plan shall be made in cash.

     (b)  Manner of Payment. Distributions to a Participant or his or her
          Beneficiary will be paid in a lump sum. Notwithstanding this Section
          6.2(b), any Participant or Beneficiary who, as of the Effective Date
          of this restatement (January 1, 2008) was receiving distributions from
          the Plan in another manner of payment, shall continue to receive
          distributions in the same manner.

     (c)  Time of Payment. A distribution to a Participant on account of a
          Participant's Termination of Employment shall be made on the first
          regular bi-weekly payroll date that is more than 6 months after the
          Termination of Employment. A distribution to a Participant or his or
          her Beneficiary as a result of death or Disability will be made as
          soon as administratively feasible following death or Disability but in
          no case later

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          than 90 days thereafter. A distribution to a Participant as a result
          of a 409A Change of Control shall be made as provided in Section 7.2.
          The Participant shall have no right to designate the taxable year of
          payment.

6.3  HARDSHIP DISTRIBUTIONS. In the event of an Unforeseeable Emergency, the
     Participant may apply to the Administrator for a distribution of all or
     part of his or her Account. Upon the finding of an Unforeseeable Emergency,
     the Administrator shall make the appropriate distribution to the
     Participant from the Participant's account. In no event shall the aggregate
     amount of the distribution exceed the lesser of the vested value of the
     Participant's account or the amount necessary to meet the Unforeseeable
     Emergency, nor shall a distribution be made on account of an Unforeseeable
     Emergency to the extent that such emergency is or may be relieved through
     reimbursement of compensation from insurance or otherwise, by liquidation
     of the Participant's assets (to the extent such liquidation would not cause
     severe financial hardship), or by cessation of deferrals under the Plan.

6.4  ACCELERATION OF PAYMENT. A Participant shall have no right to compel any
     accelerated payment of amounts due to a Participant, except that the
     Company may accelerate the payment of some or all of the amounts due to a
     Participant if allowed by the Code, regulations and applicable IRS
     guidance.

                        ARTICLE VII. - CHANGE OF CONTROL

     Notwithstanding any provisions of this Plan to the contrary, the following
provisions shall apply following a Change of Control:

7.1  VESTING. Upon a Change of Control, a Participant shall be fully vested in
     his Accounts.

7.2  PAYMENT. In the event of a Change of Control that is also a 409A Change of
     Control, all benefits under the Plan as of the date of such Change of
     Control will be paid to Participants in the Plan. The Participant shall
     have no right to designate the taxable year of payment. Such payments shall
     be made within 10 days of such Change of Control. Notwithstanding this
     Section 7.2, a Participant or Beneficiary who, as of the effective date of
     this restatement (January 1, 2008) was receiving distributions from the
     Plan in a manner other than a lump sum, shall continue to receive
     distributions in the same manner regardless of the occurrence of a Change
     of Control.

7.3  FUNDING AND PAYMENT FOR A CHANGE OF CONTROL THAT IS NOT A 409A CHANGE OF
     CONTROL AND TO A PARTICIPANT OR BENEFICIARY RECEIVING DISTRIBUTIONS.

     (a)  Within 10 days following a Change of Control that is not a 409A Change
          of Control, the Company and any successor through merger or otherwise
          shall contribute in cash to a rabbi trust established for the
          Participants' benefit an amount equal to the value of the benefits to
          which all currently employed Participants are entitled hereunder. Such
          trust shall also be

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          funded on a quarterly basis thereafter to reflect any increases in the
          value of the Plan benefits. Payout shall be made as provided in
          Section 6.2.

     (b)  Within 10 days following a Change of Control whether or not also a
          409A Change of Control, the Company and any successor through merger
          or otherwise, shall contribute in cash to a rabbi trust established
          for the benefit of a Participant or Beneficiary who as of the
          effective date of this restatement (January 1, 2008) was receiving
          distributions from the Plan equal to the value of the benefits to
          which such Participants and Beneficiaries are entitled hereunder. Such
          trust shall also be funded on a quarterly basis thereafter to reflect
          any increases in the value of the Plan benefits due to such
          Participants and Beneficiaries.

                            ARTICLE VIII. - ACCOUNTS

8.1  ACCOUNTS. The Company will maintain on its books a Supplemental Elective
     Deferral Account, a Supplemental Employer Regular Matching Contribution
     Account, and a Supplemental Employer Regular Profit Sharing Contribution
     Account for each Participant, to which shall be credited, as appropriate,
     Supplemental Elective Deferrals under Section 3.1, Supplemental Employer
     Regular Matching Contributions under Section 4.1, Supplemental Employer
     Regular Profit Sharing Contributions under Section 4.2, and earnings as
     provided in Section 8.2.

8.2  EARNINGS ALLOCATION. At the end of the Plan Year, each Participant's
     Account will be adjusted to reflect earnings on the average daily balance
     of the Account during the Plan Year. The Account will be adjusted to
     reflect earnings equal to the Company's weighted average cost of capital,
     as determined by the Company's Treasury Department and certified by the
     Chief Financial Officer. Earnings for the Plan Year will be credited only
     on Accounts that are on the books of the Company at the end of the Plan
     Year. However, Accounts or portions of Accounts that are distributed during
     a Plan Year will be credited with earnings from the beginning of the Plan
     Year through the day immediately preceding the distribution.

                          ARTICLE IX. - ADMINISTRATION

9.1  ADMINISTRATOR. The Administrator shall administer, and shall have
     discretionary authority to construe and interpret, this Plan and shall
     determine, subject to the provisions of this Plan in a manner consistent
     with the administration of the Basic Plan, the Eligible Employees who shall
     participate in the Plan from time to time and the amount, if any, due a
     Participant (or his or her beneficiary) under this Plan. No one acting on
     behalf of the Administrator shall be liable for any act done or
     determination made in good faith. In carrying out its duties herein, the
     Administrator shall have discretionary authority to exercise all powers and
     to make all determinations (including determinations concerning eligibility
     for

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     benefits), consistent with the terms of the Plan, in all matters entrusted
     to it, and its determinations shall be given deference and shall be final
     and binding on all interested parties.

9.2  CLAIMS PROCEDURE.

     (a)  Notice of Claim. Any Participant or Beneficiary, or the duly
          authorized representative of a Participant or Beneficiary, may file
          with the Administrator a claim for a Plan benefit. Such a claim must
          be in writing and must be delivered to the Administrator, in person or
          by mail, postage prepaid. Within ninety (90) days after the receipt of
          such a claim, the Administrator shall send to the claimant, by mail,
          postage prepaid, a notice of the granting or the denying, in whole or
          in part, of such claim, unless special circumstances require an
          extension of time for processing the claim. In no event may the
          extension exceed ninety (90) days from the end of the initial period.
          If such an extension is necessary, the claimant will be given a
          written notice to this effect before the expiration of the initial
          ninety (90) day period. The Administrator shall have full discretion
          to deny or grant a claim in whole or in part in accordance with the
          terms of the Plan. If notice of the denial of a claim is not furnished
          in accordance with this Section, the claim shall be deemed denied and
          the claimant shall be permitted to exercise his or her right to review
          pursuant to Sections 9.2(c) and 9.2(d) of the Plan, as applicable.

     (b)  Action on Claim. The Administrator shall provide to every claimant who
          is denied a claim for benefits a written notice setting forth, in a
          manner calculated to be understood by the claimant;

          (i)  The specific reason or reasons for the denial;

          (ii) A specific reference to the pertinent Plan provisions on which
               the denial is based;

          (iii) A description of any additional material or information
               necessary of the claimant to perfect the claim and an explanation
               of why such material or information is necessary; and

          (iv) An explanation of the Plan's claim review procedures.

     (c)  Review of Denial. Within sixty (60) days after the receipt by a
          claimant of written notification of the denial (in whole or in part)
          of a claim, the claimant or the claimant's duly authorized
          representative, on written application to the Administrator, delivered
          in person or by certified mail, postage prepaid, may review pertinent
          documents and may submit to the Administrator, in writing, issues and
          comments concerning the claim. As a condition of coverage and of
          receiving benefits under the Plan, each Participant and Beneficiary
          agrees that requests for review received by the Administrator more
          than 60 calendar days after the date of receipt of

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          the claim denial will not be considered. No legal recourse will be
          available after this period. The claimant should include in his
          written appeal the following information to support his claim for
          benefits:

          (i)  A list of which issues, if any, in the claim denial he chooses to
               contest and that he wishes the Administrator to review on appeal;

          (ii) His position on each issue;

          (iii) Any additional facts that he believes support his position on
               the issue; and

          (iv) Any legal or other arguments he believes support his position on
               each issue.

     (d)  Decision on Review. Upon the Administrator's receipt of a notice of a
          request for review, the Administrator shall make a prompt decision on
          the review and shall communicate the decision on review in writing in
          a manner calculated to be understood by the claimant and shall include
          specific reasons for the decision and specific references to the
          pertinent Plan provisions on which the decision is based. The decision
          on review shall be made not later than sixty (60) days after the
          Administrator's receipt of a request for a review, unless special
          circumstances require an extension of time for processing, in which
          case a decision shall be rendered not later than one hundred twenty
          (120) days after receipt of the request for review. If an extension is
          necessary, the claimant shall be given written notice of the extension
          by the Administrator before the expiration of the initial sixty (60)
          day period. No legal action to recover benefits or with respect to any
          other matter related to this Plan may be commenced before the claimant
          has timely exhausted the claim and appeal procedures described above.
          In no event may any such action be brought more than three (3) years
          after the claim was first incurred or after the occurrence of the
          event giving rise to the claim, whichever is later.

                      ARTICLE X. - MISCELLANEOUS PROVISIONS

10.1 LIMITATION OF RIGHTS. Nothing contained in this Plan shall be construed to:

     (a)  Limit in any way the right of the Company to terminate a Participant's
          employment at any time; or

     (b)  Be evidence of any agreement or understanding, express or implied,
          that the Company will employ a Participant in any particular position
          or at any particular rate of remuneration.

10.2 NONALIENATION OF BENEFITS. No amounts payable hereunder may be assigned,
     pledged, mortgaged, or hypothecated, and, to the extent permitted by law,
     no

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     such amounts shall be subject to legal process or attachment of the payment
     of any claims against any person entitled to receive the same.

10.3 AMENDMENT. The Administrator may at any time amend this Plan in whole or in
     part, provided, however, that no amendment shall be effective to decrease
     the balance in any Account as accrued at the time of such amendment. The
     Company shall amend the Plan as necessary to comply with Code Section 409A
     and may amend the Plan in any other manner that does not cause adverse
     consequences under such Code Section or other guidance from the Treasury
     Department or IRS, provided that no amendments shall divest otherwise
     vested rights of Participants, or their Beneficiaries.

10.4 COMPANY'S RIGHT TO TERMINATE. The Administrator may terminate the Plan and
     the payment of benefits as permitted in Treas. Reg. Section
     1.409A-3(j)(4)(ix) in the event of an arrangement termination in connection
     with a corporate dissolution or bankruptcy, in connection with a 409A
     Change of Control, or in connection with a termination of all arrangements
     that would be aggregated with the Plan under Code Section 409A.

10.5 PLAN FUNDING. This Plan is unfunded. The obligations of the Company with
     respect to the amounts payable hereunder shall be paid out of the Company's
     general assets and shall not be secured by any form of trust, escrow, or
     otherwise. This provision shall not require the Company to set aside any
     funds, but the Company may set aside such funds if it chooses to do so or
     if it is required to do so pursuant to Article VII of the Plan. This Plan
     shall be so construed that it will be "unfunded" and maintained "primarily
     for the purpose of providing deferred compensation for a select group of
     management or highly compensated employees," as those terms are used in
     ERISA.

10.6 VALIDITY AND SEVERABILITY. The invalidity or unenforceability of any
     provision of this Plan shall not affect the validity or enforceability of
     any other provision of this Plan, which shall remain in full force and
     effect, and any prohibition or unenforceability in any jurisdiction shall
     not invalidate or render unenforceable such provision in any other
     jurisdiction.

10.7 CODE SECTION 409A. It is the intent of the Company that this Plan comply
     with the requirements of Code Section 409A and it shall be construed
     accordingly. No acceleration of payments hereunder shall occur unless
     permitted under Code Section 409A. As allowed under Code Section 409A, an
     acceleration may occur, for example, in order (a) to fulfill a domestic
     relations order, (b) to allow for the payment of FICA taxes on benefits
     hereunder and the resulting tax withholding amount thereon, and (c) to pay
     amounts required to be included in income as a result of any failure of the
     Plan to comply with Code Section 409A.

10.8 WITHHOLDING. Notwithstanding any other provision of the Plan, the Company
     shall withhold from payments made hereunder any amounts required to be so
     withheld by any applicable law or regulation.

                                       12

<PAGE>

10.9 EMPLOYMENT STATUS. This Plan does not constitute a contract of employment
     or impose on the Participant or the Company any obligation for the
     Participant to remain an employee of the Company or change the status of
     the Participant's employment or the policies of the Company and its
     affiliates regarding termination of employment.

10.10 GENDER AND NUMBER. Wherever used in this Plan, the masculine shall be
     deemed to include the feminine and the singular shall be deemed to include
     the plural, unless the context clearly indicates otherwise.

10.11 LAW GOVERNING. This Plan shall be construed in accordance with and
     governed by the laws of the State of Louisiana to the extent such laws are
     not preempted by federal law.

                                          STEWART ENTERPRISES, INC.

                                          BY:
--------------------------------------        ----------------------------------
Witness

                                          DATE:
--------------------------------------          --------------------------------
Witness

                                       13<PAGE>

                                                                   Exhibit 10.21

                              AMENDED AND RESTATED

                            STEWART ENTERPRISES, INC.

                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

                                    PREAMBLE

     Stewart Enterprises, Inc. (the "EMPLOYER" or "COMPANY"), a corporation
organized and existing under the laws of the State of Louisiana, acting through
the Compensation Committee of the Board of Directors, pursuant to the authority
delegated to it regarding executive compensation, and desiring to adopt an
unfunded nonqualified plan to provide for the payment of pension benefits to a
select group of highly-compensated management employees, hereby restates the
Stewart Enterprises, Inc. Supplemental Executive Retirement Plan (the "Plan"),
effective January 1, 2008. The Plan was originally adopted effective April 1,
2002 and was amended effective May 2, 2005 and June 17, 2008.

                                   ARTICLE 1
                               PURPOSE OF THE PLAN

     The Employer intends and desires by the adoption of this Plan to recognize
the value to the Employer of past and present services of certain employees, and
to encourage their continued service with the Employer by making provisions for
their future retirement security.

                                   ARTICLE 2
                                 ADMINISTRATION

     The Compensation Committee of the Board of Directors of the Employer shall
be the Plan Administrator. The Plan Administrator shall have full power and
authority to interpret, construe and administer this Plan, and its
interpretations and constructions hereof and actions hereunder, including the
timing, form, amount or receipt of any payment to be made hereunder, within the
scope of its authority, shall be binding and conclusive on all persons for all
purposes. No member of the Compensation Committee shall be liable to any person
in connection with the interpretation or administration of the Plan, and the
Employer shall indemnify each member of the Compensation Committee for any
liability that the member might incur, except that a member of the Compensation
Committee shall be responsible for the consequences of his or her own willful
misconduct or bad faith. The Plan Administrator may delegate its
responsibilities hereunder to one or more employees of the Employer, but no
person shall participate in any action or determination regarding his or her own
benefits hereunder.

                                   ARTICLE 3
                                   DEFINITIONS

     1. 409A CHANGE OF CONTROL means a Change of Control that constitutes a
change in the ownership or effective control of the Company or a change in the
ownership of a substantial portion of the assets of the Company as such terms
are defined in Treas. Reg. Section 1.409A-3(i)(5).

<PAGE>

     2. An ACTUARIALLY EQUIVALENT benefit means a benefit having the same value
as the benefit to which it is compared. Actuarial equivalence shall be
determined using the GAR 94 unisex mortality table and the annual interest rate
on 30-year Treasury securities for the month prior to the calendar year for
which the determination is to be made.

     3. ANNUITY STARTING DATE means, for a Participant eligible for a benefit,
the first regular bi-weekly payroll date of the Employer that occurs after the
date that is at least six months following the Participant's Termination of
Employment, except that if the Participant's Termination of Employment is
because of death, the Annuity Starting Date shall be the first regular bi-weekly
payroll date of the second month following the month in which the Participant
dies. The first payment made on the Annuity Starting Date shall be equal to the
total of the bi-weekly pension payments that the Participant would have received
if a payment had been made starting with the first regular bi-weekly payroll
date of the second month following the month in which the Participant's
Termination of Employment occurred, through the Annuity Starting Date, or, in
effect, a catch up payment.

     4. BENEFICIARY means any of the following;

          (a) In the case of a 10-Years-Certain-and-Life Annuity (including a
pre-retirement death benefit under Paragraph 1(b) of Article 6), the person or
persons designated by the Participant (on his or her Benefit Election Form) to
receive the remainder of the guaranteed bi-weekly payments if the Participant
dies before the end of the payout period. If no person is effectively named by
the Participant as the Beneficiary, the Beneficiary shall be the Participant's
surviving spouse, if any, and otherwise the Participant's heirs or legatees. If
a Beneficiary dies after the Participant but before full payment has been made,
the share of the remaining payments that would have been paid to the Beneficiary
if he or she had survived shall be paid to the person or persons who would have
received that share of the benefit if the Beneficiary had predeceased the
Participant.

          (b) In the case of a Joint-and-Survivor Annuity, the person named by
the Participant (on his or her Benefit Election Form) as his or her joint
annuitant, if that person survives the Participant.

     5. BENEFIT ELECTION FORM means the form set forth as Exhibit A, or any
successor form provided by the Plan Administrator, on which the Participant
elects the manner in which his or her benefit under the Plan will be paid.

     6. CHANGE OF CONTROL means:

          (a) the acquisition by any individual, entity or group (within the
meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) of beneficial
ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act)
of more than 30% of the outstanding shares of the Company's Class A Common
Stock, no par value per share (the "Common Stock"); provided, however, that for
purposes of this subsection (a), the following acquisitions shall not constitute
a Change of Control:

               (i)  any acquisition of Common Stock directly from the Company,

               (ii) any acquisition of Common Stock by the Company,

                                       2
<PAGE>

               (iii) any acquisition of Common Stock by any employee benefit
plan (or related trust) sponsored or maintained by the Company or any
corporation controlled by the Company, or

               (iv) any acquisition of Common Stock by any corporation pursuant
to a transaction that complies with clauses (i), (ii) and (iii) of subsection
(c) of this Section 6; or

          (b) individuals who, as of the date of approval of this amendment and
restatement of the Plan by the Compensation Committee of the Board of Directors
(September 15, 2008) (the "Approval Date"), constitute the Board (the "Incumbent
Board") cease for any reason to constitute at least a majority of the Board;
provided, however, that any individual becoming a director subsequent to the
Approval Date whose election, or nomination for election by the Company's
shareholders, was approved by a vote of at least a majority of the directors
then comprising the Incumbent Board shall be considered a member of the
Incumbent Board, unless such individual's initial assumption of office occurs as
a result of an actual or threatened election contest with respect to the
election or removal of directors or other actual or threatened solicitation of
proxies or consents by or on behalf of a person other than the Incumbent Board;
or

          (c) consummation of a reorganization, merger or consolidation, or sale
or other disposition of all or substantially all of the assets of the Company (a
"Business Combination"), in each case, unless, following such Business
Combination,

               (i) all or substantially all of the individuals and entities who
were the beneficial owners of the Company's outstanding common stock and the
Company's voting securities entitled to vote generally in the election of
directors immediately prior to such Business Combination have direct or indirect
beneficial ownership, respectively, of 50% or more of the then outstanding
shares of common stock, and 50% or more of the combined voting power of the then
outstanding voting securities entitled to vote generally in the election of
directors, of the corporation resulting from such Business Combination (which,
for purposes of this paragraph (i) and paragraphs (ii) and (iii), shall include
a corporation which as a result of such transaction controls the Company or all
or substantially all of the Company's assets either directly or through one or
more subsidiaries), and

               (ii) except to the extent that such ownership existed prior to
the Business Combination, no person (excluding any corporation resulting from
such Business Combination or any employee benefit plan or related trust of the
Company or such corporation resulting from such Business Combination)
beneficially owns, directly or indirectly, 20% or more of the then outstanding
shares of common stock of the corporation resulting from such Business
Combination or 20% or more of the combined voting power of the then outstanding
voting securities of such corporation, and

               (iii) at least 50% of the members of the board of directors of
the corporation resulting from such Business Combination were members of the
Incumbent Board at the time of the execution of the initial agreement, or of the
action of the Board, providing for such Business Combination; or

          (d) approval by the shareholders of the Company of a complete
liquidation or dissolution of the Company.

                                       3
<PAGE>

     7. EARLIEST RETIREMENT DATE means, for each of the nine initial
Participants named in Paragraph 12, below, the Participant's 55th birthday. For
any additional Participant, unless otherwise specifically provided herein, the
Earliest Retirement Date means the latest to occur of (a) the Participant's 55th
birthday, (b) the Participant's completion of 10 years of employment with the
Employer, or (c) completion of the Participant's 5th year of participation in
the Plan. A Participant's participation in the Plan shall be deemed to begin on
the date on which he or she is designated as a Participant, and a Participant's
first year of participation is the year ending on the first anniversary of such
date.

     8. FINAL AVERAGE PAY means a Participant's average monthly base salary for
the 36 full months immediately preceding the Participant's Termination of
Employment. If a Participant is employed with the Company for less than 36
months, then Final Average Pay means the average monthly base salary for all
months of employment. Monthly base salary is determined by dividing annual base
salary by 12. Base salary does not include accrued vacation pay, auto allowance
or any salary increase made in lieu of providing Company-paid health insurance.

     9. NORMAL FORM of benefit means a bi-weekly pension commencing on the
Participant's Annuity Starting Date, and paid on each regular bi-weekly payroll
date of the Employer thereafter, terminating with the payment made on the last
regular payroll date in the month of the Participant's death. No death benefit
is payable under the Normal Form.

     10. NORMAL RETIREMENT DATE means the first day of the month coincident with
or immediately following a Participant's 65th birthday.

     11. OPTIONAL FORM of benefit means either the 10-Years-Certain-and-Life
Annuity or the Joint-and-Survivor Annuity, described at Section 3 of Article 4,
below.

     12. PARTICIPANT means Thomas J. Crawford, Thomas M. Kitchen, each of the
executives of the Employer who were initial Participants listed below as a Class
A Participant or a Class B Participant, and each executive added to either list
hereafter by action of the Plan Administrator:

<TABLE>
<CAPTION>
CLASS A                     CLASS B
-------             ------------------------
<S>                 <C>
William E. Rowe     Brent F. Heffron
Brian J. Marlowe    Randall L. Stricklin
Kenneth C. Budde    G. Kenneth Stephens, Jr.
                    Everett N. Kendrick
                    Lawrence B. Hawkins
                    Michael K. Crane
</TABLE>

     13. SECTION 409A means Section 409A of the Internal Revenue Code and all
regulations and guidance issued thereunder.

     14. TERMINATION OF EMPLOYMENT means the termination of the employment of a
Participant with the Employer that constitutes a "separation from service" under
Section 409A.

                                       4
<PAGE>

     15. VESTED PARTICIPANT means Mr. Kitchen, Mr. Crawford, and any Participant
who has reached his or her Earliest Retirement Date.

                                   ARTICLE 4
                            NORMAL RETIREMENT BENEFIT

     1. Upon the Termination of Employment of a Class A or Class B Participant
on or after his or her 65th birthday, the Participant shall be entitled to a
Normal Retirement Benefit (as defined in Article 4.2) commencing on his or her
Annuity Starting Date. Thomas J. Crawford and Thomas M. Kitchen shall be
entitled to a Normal Retirement Benefit beginning on the Annuity Starting Date
following a Termination of Employment after completing ten or more years of
service as an employee of the Company.

     2. For a Class A Participant, the Normal Retirement Benefit paid in the
Normal Form shall be 50% of Final Average Pay. For Thomas M. Kitchen, Thomas J.
Crawford and any Class B Participant, the Normal Retirement Benefit paid in the
Normal Form shall be 40% of Final Average Pay.

     3. Instead of payment in the Normal Form, a Participant entitled to receive
a Normal Retirement Benefit may elect to receive the benefit in either of the
following two Optional Forms:

          (a) As a Joint-and-Survivor Annuity, as follows: a pension is paid to
the Participant, with the first payment on his or her Annuity Starting Date
determined as set forth in the definition of "Normal Form," continuing with
regular bi-weekly payment amounts on each regular bi-weekly payroll date of the
Employer, and terminating with the payment on the last regular bi-weekly payroll
date of the Employer in the month of the Participant's death; and if the joint
annuitant named by the Participant as of the Annuity Starting Date survives the
Participant, the amount that would have been paid on each bi-weekly payroll date
to the Participant will be continued and paid to the joint annuitant on each
regular bi-weekly payroll date, terminating with the payment on the last regular
bi-weekly payroll date in the month of the joint annuitant's death.

          (b) As a 10-Years-Certain-and-Life Annuity, as follows: a benefit is
paid to the Participant, with the first payment on his or her Annuity Starting
Date determined as set forth in the definition of "Normal Form," continuing with
regular bi-weekly payment amounts on each regular bi-weekly payroll date of the
Employer and terminating with the later of the payment on the last regular
bi-weekly payroll date in the month of the Participant's death or in the month
in which the ten-year payment period terminates. If the Participant dies prior
to the end of the ten-year payment period, the remainder of the scheduled
bi-weekly payments are made to the Participant's Beneficiary.

     4. The form of pension payment must be elected by a Participant prior to
his or her Termination of Employment. If a Participant makes no election within
the time period described herein, the benefit shall be paid in the Normal Form.

     5. A Participant's pension paid in an Optional Form shall be Actuarially
Equivalent to the pension paid in the Normal Form.

                                       5
<PAGE>

                                   ARTICLE 5
                           OTHER PARTICIPANT BENEFITS

     1. A Class A or Class B Participant whose Termination of Employment occurs
on or after his Earliest Retirement Date is entitled to an Early Retirement
Benefit, commencing at the Participant's Annuity Starting Date. The Early
Retirement Benefit shall be determined in the same manner as a Normal Retirement
Benefit, reduced, however, by 5% for each full year (and 1/26 of 5% for each
full two-week pay period of a partial year) that the Termination of Employment
precedes the Normal Retirement Date. As a result, the percentage of Final
Average Pay that will be paid to a Class A or Class B Participant whose
Termination of Employment occurs on his 55th through 65th birthdays is as
follows:

<TABLE>
<CAPTION>
AGE    CLASS A    CLASS B
---    --------   -------
<S>    <C>        <C>
55      25.0%      20.0%
56      27.5%      22.0%
57      30.0%      24.0%
58      32.5%      26.0%
59      35.0%      28.0%
60      37.5%      30.0%
61      40.0%      32.0%
62      42.5%      34.0%
63      45.0%      36.0%
64      47.5%      38.0%
65      50.0%      40.0%
</TABLE>

     2. A Class A or Class B Participant who terminates employment prior to his
or her Earliest Retirement Date is not eligible to receive a benefit under the
Plan.

     3. Mr. Kitchen's retirement benefit, commencing at the Annuity Starting
Date, shall be a percentage of his Final Average Pay, which shall be calculated
according to the following schedule, with pro rata additions for each full
two-week pay period in a partial year of service:

<TABLE>
<CAPTION>
Years of Service    % of Final Average Pay
----------------    ----------------------
<S>                  <C>

     <1                         0%
      1                         4%
      2                         8%
      3                        12%
      4                        16%
      5                        20%
      6                        24%
      7                        28%
      8                        32%
      9                        36%
      10 or more               40%
</TABLE>

                                       6
<PAGE>

     4. Mr. Crawford's retirement benefit, commencing at the Annuity Starting
Date, shall be a percentage of his Final Average Pay, which shall be calculated
according to the following schedule, with pro rata additions for each full
two-week pay period in a partial year of service:

<TABLE>
<CAPTION>
Years of Service    % of Final Average Pay
----------------    ----------------------
<S>                 <C>
      1                         4%
      2                         8%
      3                        12%
      4                        16%
      5                        20%
      6                        24%
      7                        28%
      8                        32%
      9                        36%
       10 or more              40%
</TABLE>

     5. If a Participant in the Plan terminates employment and is subsequently
re-employed by the Employer or one of its subsidiaries, the individual will be
deemed a Participant in the Plan with respect to his period of reemployment (and
accrue additional benefits) only if re-designated as such by the Plan
Administrator. Furthermore, the Participant's re-employment by the Employer or
one of its subsidiaries after the Participant's Annuity Starting Date will not
affect the Participant's pension benefit under the Plan.

                                   ARTICLE 6
                                      DEATH

     1. Upon the death of a Vested Participant prior to his or her Termination
of Employment, the Participant's Beneficiary shall receive a death benefit that
shall commence as of the first regular bi-weekly payroll date of the Employer in
the month following the month of death, and shall be determined as follows:

          (a) If the Participant is survived by his or her spouse, and the
surviving spouse is the only Beneficiary, the surviving spouse shall be entitled
to a bi-weekly benefit for his or her life, equal to the pension the surviving
spouse would have received if the Participant had retired on the date of his
death and had elected a Joint-and-Survivor Annuity with the surviving spouse as
the Beneficiary, and had died before his or her Annuity Starting Date.

          (b) If Paragraph (a) does not apply, the death benefit shall be paid
to the Participant's Beneficiary for ten years, determined as if the Participant
had retired on the date of his death and had elected to receive his or her
benefit in the form of a 10-Years-Certain-and-Life Annuity but died before his
or her Annuity Starting Date.

     2. Upon the death of a Participant after a Termination of Employment, a
benefit will be paid only if the Participant elected an Optional Form of benefit
under which a benefit is due to a Beneficiary.

                                       7

<PAGE>

                                   ARTICLE 7
                          AMENDMENT AND DISCONTINUANCE

     1. The Employer expects to continue this Plan indefinitely but reserves the
right, acting through the Plan Administrator, to amend or discontinue the Plan,
provided, however, that the benefit promised to a Vested Participant can be
affected without the Participant's consent only as set forth below, and subject
to Article 10 hereof.

     2. If the Plan Administrator should discontinue this Plan:

          (a) The Employer shall be obligated to continue to pay on the same
schedule all benefits that have already commenced; and

          (b) The Employer shall be obligated to pay a benefit to each Vested
Participant who has not reached an Annuity Starting Date the amount determined
under Paragraph 4, below.

     3. The Plan Administrator can terminate a Participant's participation in
the Plan if the Participant has not had a Termination of Employment. In that
event a benefit shall be paid, as set forth in Paragraph 4, to the Participant
only if he or she is a Vested Participant as of the date such action is taken.

     4. In the event of the discontinuance of the Plan or of a Vested
Participant's participation in the Plan, the benefit under Paragraph 2(b) or 3
of this Article 7 shall be based on the Participant's Final Average Pay
determined as of the discontinuance date. Nevertheless, the Annuity Starting
Date, the Normal Retirement Benefit, the discount (if any), and the form of the
benefit, shall be determined in the normal way upon the Participant's
Termination of Employment.

     5. Any Participant who is not a Vested Participant as of the date when the
Plan is discontinued or his or her participation in the Plan is ended shall
receive no benefit under the Plan.

     6. An amendment or discontinuance of the Plan shall not result in the
acceleration of the payment of a benefit hereunder, unless permitted by Section
409A. The Company may terminate the Plan and accelerate the payment of benefits
as permitted in Section1.409A-(j)(4)(ix) of the Treasury Regulations under
Section 409A (or a successor provision) in the event of an arrangement
termination in connection with a corporate dissolution or bankruptcy, in
connection with a change of control event or in connection with a termination of
all arrangements that would be aggregated with the Plan under Section 409A.

                                   ARTICLE 8
                           RESTRICTIONS ON ASSIGNMENT

     The interest of a Participant or Beneficiary may not be sold, transferred,
assigned, or encumbered in any manner, either voluntarily or involuntarily.
Neither shall the benefits hereunder be liable for or subject to the claims of
the creditors of any person to whom such benefits or funds are payable, except
that (i) no amount shall be payable hereunder until and unless any and all
amounts representing debts or other obligations owed to the Employer or any

                                       8

<PAGE>

affiliate of the Employer by the Participant with respect to whom such amounts
would otherwise be payable shall have been fully paid and satisfied, and (ii) no
amounts shall be payable hereunder to any Participant (or the Participant's
Beneficiary) if the Participant engages in any of the activities described in
Article 9 hereof.

                                   ARTICLE 9
                          CONDITION OF NON-COMPETITION

     1. The Participant (and the Participant's Beneficiary) will lose the right
to any unpaid benefits under the Plan if the Participant engages in any
Restricted Activities following his Termination of Employment.

     2. The term "Restricted Activities" means any one or more of the following
activities:

          (a) Participant, directly or indirectly, for himself or others, owns,
manages, operates, controls, is employed in an executive, managerial or
supervisory capacity by, consults with, or otherwise engages or participates in
or allows his skill, knowledge, experience or reputation to be used in
connection with, the ownership, management, operation or control of, any company
or other business enterprise engaged in the Death Care Business within any of
the Subject Areas; provided, however, a passive investment by a Participant is
not a Restricted Activity as long as Participant does not beneficially own more
than 2% of the equity interests of a business enterprise engaged in the Death
Care Business within any of the Subject Areas. For purposes of this paragraph,
"beneficially own" shall have the same meaning ascribed to that term in Rule
13d-3 under the Exchange Act.

          (b) Participant calls upon any customer of the Company or its
subsidiaries for the purpose of soliciting, diverting or enticing away the
business of such person or entity, or otherwise disrupting any previously
established relationship existing between such person or entity and the Company
or its subsidiaries.

          (c) Participant solicits, induces, influences or attempts to influence
any supplier, lessor, lessee, licensor, partner, joint venturer, potential
acquiree or any other person who has a business relationship with the Company or
its subsidiaries, or who on the date of Termination of Employment is engaged in
discussions or negotiations to enter into a business relationship with the
Company or its subsidiaries, to discontinue or reduce or limit the extent of
such relationship with the Company or its subsidiaries.

          (d) Participant makes contact with any of the employees of the Company
or its subsidiaries with whom he had contact during the course of his employment
with the Company for the purpose of soliciting such employee for hire, whether
as an employee or independent contractor, or otherwise disrupting such
employee's relationship with the Company or its subsidiaries.

     3. The following terms used in this Article 9 are defined as follows:

          (a) "Subject Areas" means each State of the United States or other
jurisdiction in which Participant regularly (i) makes contact with customers of
the Company or any of its subsidiaries, (ii) conducts the business of the
Company or any of its subsidiaries or (iii)

                                       9

<PAGE>

supervises the activities of other employees of the Company or any of its
subsidiaries, and in which the Company or any of its subsidiaries engages in the
Death Care Business (as hereinafter defined) on the date of Termination of
Employment.

          (b) "Death Care Business" means (i) the owning and operating of
funeral homes and cemeteries, including combined funeral home and cemetery
facilities, (ii) the offering of services and products to meet families' funeral
needs, including prearrangement, family consultation, the sale of caskets and
related funeral and cemetery products and merchandise (whether at physical
locations or by means of the Internet), the removal, preparation and
transportation of remains, cremation, the use of funeral home facilities for
visitation and worship, and related transportation services, (iii) the marketing
and sale of funeral services and cemetery property or merchandise on an at-need
or prearranged basis, (iv) providing, managing and administering financing
arrangements (including trust funds, escrow accounts, insurance and installment
sales contracts) for prearranged funeral plans and cemetery property and
merchandise, (v) providing interment services, the sale (on an at-need or
prearranged basis) of cemetery property including lots, lawn crypts, family and
community mausoleums and related cemetery merchandise such as monuments,
memorials and burial vaults, (vi) the maintenance of cemetery grounds pursuant
to perpetual care contracts and laws or on a voluntary basis, and (vii) offering
mausoleum design, construction and sales services.

                                   ARTICLE 10
                               NATURE OF AGREEMENT

     Participants and Beneficiaries under this Plan have only an unsecured right
to receive benefits from the Employer as general creditors of the Employer. The
Plan constitutes a mere promise to make payments in the future. Employer may set
aside funds, in a trust or otherwise, for the purpose of satisfying its
obligations under the Plan. The setting aside of amounts by the Employer with
which to discharge its obligations hereunder shall not create any security for
the payment of Plan benefits. Any and all funds so set aside shall remain
subject to the claims of the general creditors of the Employer, present and
future. This provision shall not require the Employer to set aside any funds,
but the Employer may set aside such funds if it chooses to do so.

                                   ARTICLE 11
                                CHANGE OF CONTROL

     Notwithstanding any provisions of this Plan to the contrary, the following
provisions shall apply following a Change of Control:

     1. If a Class A or Class B Participant has a Termination of Employment
before the Participant's Earliest Retirement Date, the Participant shall receive
a benefit commencing on the first regular bi-weekly payroll date following the
later of his Earliest Retirement Date or his Annuity Starting Date equal to A x
B/C, which benefits shall be paid out as described in Article 11, paragraph 3,
and where

     A is the benefit determined as if the Participant's Termination of
     Employment had occurred on the Participant's Earliest Retirement Date;

                                       10
<PAGE>
     B is the Participant's total service as a Participant in the Plan; and

     C is the total service as a Participant in the Plan that would be required
     to reach the Participant's Earliest Retirement Date.

     2. If Mr. Kitchen has a Termination of Employment before December 2, 2009,
or if Mr. Crawford has a Termination of Employment before March 31, 2012, each
shall receive, respectively, a benefit commencing on his Annuity Starting Date
equal to the benefits each would have received hereunder if he had completed
five years of service, which benefits shall be paid out as described in Article
11, paragraph 3.

     3. If the Change of Control also constitutes a 409A Change of Control,

          (a) a Participant who has not had a Termination of Employment shall
receive as his only benefit under the Plan a lump sum that is Actuarially
Equivalent to the Normal Form of benefit that the Participant otherwise would
have been entitled to under the Plan (including, if applicable, Paragraphs 1 and
2 of this Article 11). In computing the Normal Form for the purpose of this
benefit, however, Final Average Pay shall be determined immediately before the
Change of Control or immediately before the Termination of Employment (if
applicable), whichever produces the larger amount. The payment shall be made as
soon as feasible after the Change of Control that is also a 409A Change of
Control, and in no case more than 90 days thereafter. The Participant shall have
no right to designate the taxable year of payment; and

          (b) the Employer and any successor through merger or otherwise shall,
within 10 days following the 409A Change of Control, contribute in cash to a
rabbi trust for the benefit of all Participants who had a Termination of
Employment prior to the Change of Control, an amount equal to the then-present
value of the Actuarial Equivalent of the benefits to which such Participants are
entitled hereunder. Such trust shall also be funded on a quarterly basis
thereafter to reflect any increases in the present value of the Actuarial
Equivalent of such Plan benefits.

     4. Within 10 days following a Change of Control that is not a 409A Change
of Control, the Employer and any successor through merger or otherwise shall
contribute in cash to a rabbi trust established for the Participants' benefit an
amount equal to the then present value of the Actuarial Equivalent of the
benefits to which all Participants are entitled hereunder. Such trust shall also
be funded on a quarterly basis thereafter to reflect any increases in the
present value of the Actuarial Equivalent of Plan benefits.

     5. Until the second anniversary of the Change of Control, the Employer
shall have no right to terminate the Plan as to any Participant.

                                   ARTICLE 12
                                  MISCELLANEOUS

     1. A Vested Participant who anticipates a Termination of Employment should
apply for a benefit using the form provided by the Plan Administrator. Upon the
death of a Participant when a benefit is payable to a Beneficiary, the
Beneficiary should notify the Plan Administrator of the death. All claims for
benefit shall be addressed to the Chairman of the Compensation

                                       11
<PAGE>

Committee, Stewart Enterprises, 1333 South Clearview Parkway, Jefferson,
Louisiana 70121. The procedures of making a claim, and for appealing from a
partial or complete denial, are attached hereto as Exhibit B. The remedy of a
Participant who is unsatisfied after completing the appeal process is to enter
binding arbitration with the Employer.

     2. If the Employer, through a mistake of law or fact, pays to a Participant
or other person a Plan benefit that the recipient is not entitled to, the
recipient shall repay the mistaken amount to the Employer. The Employer may
offset the future benefits of any recipient who refuses to return an erroneous
payment, in addition to pursuing other remedies provided by law.

     3. Nothing contained herein shall be construed as conferring upon any
Participant the right to continue in the employ of the Employer in any capacity.

     4. The Plan shall be binding upon and inure to the benefit of the Employer,
its successors and assigns and each Participant and his or her heirs, executors,
administrators and legal representatives.

     5. Each initial Participant in this Plan was offered the opportunity to
participate in the Plan in consideration of loyal prior and continuing service
to the Company, his agreement to amend his employment agreement with the Company
in order to, among other things, eliminate certain post-termination benefits
provided thereunder, and the non-competition covenant contained in Article 9
hereof, to which such Participant explicitly agreed by accepting participation
in this Plan through the amendment of his employment agreement.

     6. The Plan shall be construed in accordance with and governed by the laws
of the State of Louisiana, except to the extent that the Plan is governed by the
Employee Retirement Income Security Act of 1974 ("ERISA"). It is the Employer's
intent that the Plan shall be exempt from ERISA's provisions to the maximum
extent permitted by law. The Plan is intended to be unfunded for federal income
tax purposes and for the purposes of Title I of ERISA, and is intended to
provide a pension benefit only for a select group of management or highly
compensated employees, so as to be exempt from Parts 2, 3 and 4 of Title I of
ERISA, pursuant to Sections 201(2), 301(a)(3), and 401(a)(1) of ERISA.

     7. This Plan document, and any amendment hereto, shall also serve as the
Plan's Summary Plan Description. A copy of this Plan document and each amendment
hereto shall be provided to each Participant.

     8. It is the intent of the Employer that this Plan comply with the
requirements of Section 409A and it shall be construed accordingly. No
acceleration of payments hereunder shall occur unless permitted under Section
409A. As allowed under Section 409A, an acceleration may occur, for example, in
order (a) to fulfill a domestic relations order, (b) to allow for the payment of
FICA taxes on benefits hereunder and the resulting tax withholding amount
thereon, and (c) to pay amounts required to be included in income as a result of
any failure of the Plan to comply with Section 409A.

     9. Notwithstanding any other provision of the Plan, the Employer shall
withhold from payments made hereunder any amounts required to be so withheld by
any applicable law or regulation.

                                       12

<PAGE>

                                           STEWART ENTERPRISES, INC.

                                        BY:
--------------------------------------      -----------------------------------
Witness

                                        DATE:
--------------------------------------        ---------------------------------
Witness

                                       13

<PAGE>

                            STEWART ENTERPRISES, INC.
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

                        EXHIBIT A - BENEFIT ELECTION FORM
          (TO BE USED ONLY IN ACCORDANCE WITH SECTION 4.4 OF THE PLAN)

Name:                                  SSN:
     -------------------------------       -----------------------------------

Address:
        ----------------------------------------------------------------------

Form of Benefit (elect one of the following 3 choices):

[ ]   For my life only

[ ]   For my life, but no less than a ten-year period. In the event of my
      death before ten years of payments have been made, the beneficiary or
      beneficiaries of the remaining payments shall be:

      --------------------------------------------------------------------------

[ ]   For my life, and at my death to the following individual for his or her
      life, if he or she survives me:

      --------------------------------------------------------------------------

                                           -------------------------------------
                                                        PARTICIPANT

                                           -------------------------------------
                                                            Date

                                       14

<PAGE>

                            STEWART ENTERPRISES, INC.
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

                          EXHIBIT B - CLAIMS PROCEDURES

     (a)  FILING OF A CLAIM FOR BENEFITS

          Claims for benefits under the Plan are to be presented in writing by
     the claimant or an authorized representative to the Chairman of the
     Compensation Committee of the Board of Directors of Stewart Enterprises,
     Inc.

     (b)  NOTIFICATION TO CLAIMANT OF DECISION

          If a claim is wholly or partially denied, a notice of the decision
     rendered in accordance with the rules set forth below will be furnished to
     the claimant not later than 90 days after receipt of the claim by the
     Chairman of the Compensation Committee.

          If special circumstances require an extension of time for processing
     the claim, the Chairman of the Compensation Committee will give the
     claimant a written notice of the extension prior to the end of the initial
     90 day period. In no event will the extension exceed an additional 90 days.
     The extension notice will indicate the special circumstances requiring an
     extension of time and the date by which the Chairman of the Compensation
     Committee expects to render its final decision.

          If the notice of the denial of claim is not furnished in accordance
     with the procedure set out herein, the claim will be deemed denied and the
     claimant will be permitted to proceed to the review stage.

     (c)  CONTENT OF NOTICE

          The Chairman of the Compensation Committee will provide to every
     claimant who is denied a claim for benefits written or electronic notice
     setting forth in a clear and simple manner:

          (1)  The specific reason or reasons for denial;

          (2)  Specific reference to pertinent plan provisions on which denial
               is based;

          (3)  A description of any additional material or information necessary
               for the claimant to perfect the claim and an explanation of why
               such materials or information are necessary; and

                                       15

<PAGE>

          (4)  Appropriate information as to the steps to be taken if the
               claimant wishes to submit his or her claim for review, including
               the right to bring a civil action under ERISA Section 502(a)
               following an adverse determination on review.

     (d)  REVIEW PROCEDURE

          After the claimant has received written notification of the denial of
     the claim, the claimant or a duly authorized representative will have 60
     days within which to appeal, in writing, a denied claim to the full
     Compensation Committee. The Compensation Committee will afford the claimant
     a full and fair review of the denial of the claim. The claimant should
     include in his written appeal the following information to support his
     claim for benefits:

          (1) A list of the issues in the claim denial that he chooses to
          contest, if any, and that he wishes the Compensation Committee to
          review on appeal;

          (2) His position on each issue;

          (3) Any additional facts that he believes support his position on each
          issue; and

          (4) Any legal or other arguments he believes support his position on
          each issue.

          The claimant or a duly authorized representative will be permitted to
          submit issues and comments relevant to the claim. Upon request, the
          claimant will be given reasonable access to, and copies of, all
          documents and information relevant to the claim for benefits, at no
          charge.

          The review will consider all items submitted by the claimant,
          regardless of whether such information was submitted or considered in
          the initial benefit determination.

     (e)  DECISION ON REVIEW

          The decision on review by the Compensation Committee will be rendered
     as promptly as is feasible, but not later than 60 days after the receipt of
     a request for review unless the Compensation Committee in its sole
     discretion, determines that special circumstances require an extension of
     time for processing, in which case a decision will be rendered as promptly
     as is feasible, but not later than 120 days after receipt of a request for
     review.

          If an extension of time for review is required because of special
     circumstances, written notice of the extension will be furnished to the
     claimant before termination of the initial 60-day review period.

                                       16

<PAGE>

          The decision on review will be in written or electronic form. In the
     event of a claim denial, the decision shall contain: (1) specific reasons
     for the decision, written in a clear and simple manner; (2) specific
     references to the pertinent plan provisions on which the decision is based;
     (3) a statement that the claimant may request, at no charge, reasonable
     access to and copies of all documents, records and other information
     relevant to the claim for benefits; and (4) a description of the Plan's
     appeal and arbitration procedures (if any), and the claimant's right to
     bring an action under ERISA Section 502(a).

If the Participant wishes to contest the Compensation Committee's decision on
review, the Participant's claim shall be submitted to binding arbitration in
accordance with the following procedures:

     (f)  ARBITRATION

          (1) BINDING AGREEMENT TO ARBITRATE. Any claim or controversy arising
          out of any provision of this Plan that cannot be resolved through the
          claims procedures provided above, shall be settled by arbitration
          administered by the American Arbitration Association (the "AAA") under
          its National Rules for the Resolution of Employment Disputes (the
          "Rules"), and judgment on the award rendered by the arbitrator(s) may
          be entered in any court having jurisdiction thereof.

          (2) SELECTION AND QUALIFICATIONS OF ARBITRATORS. If no party to the
          arbitration makes a claim in excess of $1.0 million, exclusive of
          interest and attorneys' fees, the proceedings shall be conducted
          before a single neutral arbitrator selected in accordance with the
          Rules. If any party makes a claim that exceeds $1.0 million, the
          proceedings shall be conducted before a panel of three neutral
          arbitrators, one of whom shall be selected by each party within 15
          days after commencement of the proceeding and the third of whom shall
          be selected by the first two arbitrators within 10 days after their
          appointment. If the two arbitrators selected by the parties are unable
          or fail to agree on the third arbitrator, the third arbitrator shall
          be selected by the AAA. Each arbitrator shall be a member of the bar
          of the State of Louisiana and actively engaged in the practice of
          employment law for at least 15 years.

          (3) LOCATION OF PROCEEDINGS. The place of arbitration shall be New
          Orleans, Louisiana.

          (4) REMEDIES. Any award in an arbitration initiated here shall be
          limited to actual monetary damages, including if determined
          appropriate by the arbitrator(s) an award of costs and fees to the
          prevailing party. "Costs and fees" mean all reasonable pre-award
          expenses of the arbitration, including arbitrator's fees,
          administrative fees, travel expenses, out-of-pocket expenses such as
          copying, telephone, witness fees and attorneys' fees. The
          arbitrator(s) will have no

                                       17

<PAGE>

          authority to award consequential, punitive or other damages not
          measured by the prevailing party's actual damages, except as may be
          required by statute.

          (5) OPINION. The award of the arbitrators shall be in writing, shall
          be signed by a majority of the arbitrators, and shall include findings
          of fact and a statement of the reasons for the disposition of any
          claim.

                                       18

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