Document:

Letter Agreement - Poulsen

 EXHIBIT 10.2 
  
 Rose Hills Company 
 3888 South Workman Mill Road 
 Whittier, CA 90601 
  
 July 1, 2003 
  
 Mr. Dennis C. Poulsen 
 6811 Ocean Boulevard 
 Long Beach, CA 90803 
  
 Dear Dennis: 
  
 This letter will
confirm the terms of our agreement concerning your appointment as non-executive Chairman of the Board of Rose Hills Company (the “Company”) effective July 1, 2003. 
  
 While Chairman of the Board of Directors you shall have such duties and authority as shall be determined from time to time
by the Board of Directors of the Company. 
  
 The Company will pay
you a retainer of $30,000 per annum. For the current calendar year the retainer will be pro rated and a lump sum payment of $15,000 will be payable to you in July of this year and for each year commencing January 1, 2004 the retainer will be payable
in a lump sum in January of each year. If this agreement is terminated by you in any year, prior to the completion of the year, you agree to repay the retainer on a pro rated basis. In addition, the Company will pay you an attendance fee of $3,000
for each Company Board Meeting that you attend in person and a fee of $1,500 for each conference call attendance at a Company Board Meeting when you are unable to attend in person. All attendance fees will be paid quarterly. 
  
 The Company will reimburse you for all reasonable business expenses incurred
by you during the term of this agreement, in connection with the performance of services pursuant to this letter agreement. 
  
 You may participate in the employee health benefit plans maintained by the Company generally for the benefit of its other senior executives in accordance
with the terms of such employee benefit plans, with the exception of the Long-Term Disability Plan, which will be discontinued. In addition, the Company shall provide you access to an office and an office assistant to assist you with business
related activities and support required with communications devices and the Company agrees that you may purchase the computer equipment that is currently available to you on the terms that were previously agreed to by the parties. 
  
 The Company shall continue to provide you with the leased vehicle that is
currently available to you, in accordance with the terms of the current lease agreement. At the expiration of the current lease term, you will have the option to purchase the leased vehicle based on the Company book value or remaining lease value,
whichever is lower. 
  
 Should either party, terminate the
agreement, during the term of the lease, you will have the option to purchase the vehicle for the Company book value or the remaining lease value at the said time, whichever is lower. 
  
 We and you hereby acknowledge that you or the Company may terminate this agreement at any time for any reason without
further obligation of any party hereunder, by providing at least 60 days advance written notice of termination. 
  
 You agree that you will not at any time (during the term of this agreement or anytime thereafter) disclose or use for your own benefit or purposes or the
benefit or purposes of any other person, firm partnership, joint venture, association, corporation or other business organization, entity or enterprise other than the Company and 

 
any of its subsidiaries or affiliates, any trade secrets, information, data or other confidential information relating to customers, development programs,
costs, marketing, trading, investment, sales activities, promotion, credit and financial data, manufacturing processes, financing methods, plans, or the business and affairs of the Company generally, or of any subsidiary or affiliate of the Company,
provided, that the foregoing shall not apply to information which is not unique to the Company or which is generally known to the industry or the public other than as a result of your breach of this covenant. 
  
 You agree that you will not, for a period of 2 years from the date hereof or
such longer period that you continue to act as Chairman of the Board of the Company, enter the employ of, or render any services to any person or entity that competes with the business of the Company or any of its affiliates (including, without
limitation, businesses which the Company or its affiliates have specific plans to conduct in the future and as to which you are aware of such planning) (a “Competitive Business”) or acquire a financial interest in any Competitive Business,
directly or indirectly, as an individual, partner, shareholder, member, officer, employee, director, principal, agent, trustee or consultant; provided, however, that you may, directly or indirectly own 5% or less of any class of securities of any
person engaged in a Competitive Business which is publicly traded on a national or regional stock exchange or on the over-the-counter market. 
  
 You represent and warrant that your execution of this letter agreement, and your performance of your obligations hereunder will not conflict with, violate
or otherwise be inconsistent with any other contractual obligation, or to the best of your knowledge, any other obligation, that would prohibit your from entering into or performing any of such obligations. The provisions of this paragraph shall
survive any termination of this letter agreement. 
  
 All amounts
paid hereunder are subject to applicable withholding taxes. 
  
 This letter agreement contains the entire understanding between you and the Company with respect to services to be rendered by you and supercedes all prior employment agreements and understandings (including verbal agreements) between you
and the Company and/or any of its affiliates. This letter agreement may not be altered, amended or modified in any way except by a writing signed by all parties. 
  
 This letter agreement shall not be assigned by you but may be assigned by the Company to a company, which is a successor in
interest to substantially all of the business operations of the Company. 
  
 This letter agreement shall be governed by and construed in accordance with the laws of the State of California, without regard to conflicts of laws principles thereof. This letter agreement may be signed in
counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 
  
 Our respective signatures below indicate our mutual assent to the terms of this letter agreement. 
  
  

	 Very Truly Yours,

	
	ROSE HILLS COMPANY 
		
	By:	 	/s/    KENTON C.WOODS        
	 	

	 	 	 Kenton C. Woods
 Title: President and Chief Executive Officer

  

	Agreed to and accepted:
	
	/s/    DENNIS C. POULSEN      
	

	Dennis C. PoulsenAmended and Restated Employment Agreement - Woods

 EXHIBIT 10.3 
  
 AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
  
 This amended and restated Employment Agreement is made this 1st day of July 2003 by and between Rose Hills Company
(“the Company”) and Kenton C. Woods (“Woods”). 
  
 WHEREAS, the Company and Woods entered into an Employment Agreement dated December 31, 1998 (the “Previous Agreement”); 
  
 AND WHEREAS, it is the mutual intent of the parties hereto that Woods be employed as President and Chief Executive Officer of the Company effective July
1, 2003, and that a new employment agreement be entered into which will supercede the Previous Agreement; 
  
 AND WHEREAS, it is the mutual intent of the parties to set forth in this Agreement the terms and conditions of the said employment of Woods as President
and Chief Executive Officer of the Company. 
  
 In consideration
of these premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby covenant and agree as follows: 
  
 1.    Employment 
  

	 	1.1	 	During the term of this Agreement and subject to its terms and conditions, the Company shall employ Woods as President and Chief Executive Officer. In said capacity, Woods shall
report to the Board of Directors of the Company or to such person(s) as the Board of Directors of the Company (“the Board”) may, from time to time direct, and shall have such powers, responsibilities and authorities as may be, from time to
time, assigned to him by the Board. 

  

	 	1.2	 	The employment of Woods under this Agreement shall commence on July 1, 2003 and shall continue in effect without interruption until terminated in accordance with the terms of this
Agreement. 

  

	 	1.3	 	During the term hereof, Woods shall devote his full working time and efforts, to the best of his ability, experience and talent, to the performance of services, duties and
responsibilities as an Officer of the Company. 

  
 2.    Compensation 
  

	 	2.1	 	During the term hereof, Woods shall be paid by the Company a base salary (“Base Salary”) at the rate of $200,000 per annum, provided that said Base Salary shall be
reviewed annually. Any increase in the Base Salary shall be at the sole discretion of the Company. In the event that the Company, in the exercise of said discretion, increases the Base Salary, the Base Salary, as so increased, shall thereafter be
the “Base Salary” for the purposes of this Agreement. The Base Salary shall be payable in accordance with the Company’s customary payroll practices and is subject to deductions required by law. 

  

	 	2.2	 	In addition to his Base Salary, Woods shall be entitled to participate in a short term incentive plan as adopted by the Company from time to time subject to a maximum of 100% of
Woods’ annual Base Salary less deductions required by applicable law. 

  

	 	2.3	 	The short term incentive plan bonus is subject to the following conditions and exceptions: 

  

	 	(a)	 	In order to qualify for and receive the annual bonus, Woods must be employed by the Company or its successor at the time the bonus is paid unless Woods is terminated without Just
Cause. If Woods’ employment is terminated without Just Cause after the end of the year but before the bonus amount is paid, Woods shall receive the bonus for that completed year calculated in accordance with the terms of the short term
incentive plan. The payment will be subject to deductions required by applicable law. The bonus amount will be paid in full within 90 days of the subject year end. 

  

	 	(b)	 	 If, before the end of a year, Woods’ employment is terminated by the Company or its successor without Just Cause, the bonus which Woods will be entitled to
received under paragraph 4.4 for 

	 	 
that year will be equal to Woods’ pro rata portion of the bonus for the year of termination (for the number of days elapsed in the current year), based
on the achievement of the applicable performance criteria through the date of termination. 

  
 3.    Employee Benefits 
  

	 	3.1	 	The Company shall provide Woods, during the term of this Agreement, coverage under employee pension and welfare benefit programs, plans and practices consistent with such benefits
as are made available from time to time to other senior executives of the Company (“Benefits”) in accordance with the terms of the applicable plan documents as modified from time to time. 

  

	 	3.2	 	Woods shall be entitled to no less than twenty-five business days paid vacation in each calendar year, which shall be taken at such time as is consistent with Woods’
responsibilities hereunder. Unless otherwise approved by the Company, any vacation days not taken in any calendar year shall be forfeited without pay therefore. 

  
 4.    Termination 
  

	 	4.1	 	Woods shall have the right to terminate this Agreement at any time at upon 90 days notice to the Company. In the event that Woods so terminates, he shall be entitled, at the time
the termination becomes effective, to a lump sum payment from the Company (i) in respect of vacation accrued in respect of the year in which said termination occurs, but not used (“Vacation Payment”) and (ii) for compensation earned under
the terms of paragraph 2.1 hereof, but not paid (“Compensation Payment”) as of the effective date of the termination. Said Compensation Payment shall not include all or any part of any Bonus in respect of the year in which said termination
occurs. If Woods terminates this Agreement, he shall not be entitled to receive any payment, benefit, or compensation from the Company, by way of Base Salary, Bonus, benefits, severance payment or otherwise, except as expressly set forth in this
paragraph. 

  

	 	4.2	 	The Company shall have the right to terminate this Agreement and Woods’ employment with the Company for cause at any time. As used herein, the term “Cause” shall
include (i) willful malfeasance or willful misconduct by Woods in connection with his employment, (ii) any failure or refusal by Woods to perform his duties hereunder or to follow any lawful direction from the Company which refusal or failure
continues after Woods has been given notice by the Company that it deems that such failure or refusal has occurred, (iii) any breach by Woods of Section 5 herein or any other material breach of this Agreement, or (iv) the commission by Woods of any
violation of law in connection with the performance of his duties hereunder, any misdemeanor involving moral turpitude or any felony. Except as explicitly provided in this paragraph, the Company shall not be required to provide Woods with advance
notice of termination for cause. 

  

	 	4.3	 	In the event that Woods is terminated for cause under the terms of paragraph 4.2, he shall be entitled to receive a lump sum payment from the Company in respect of the Vacation
Payment and the Compensation Payment. Said Compensation Payment shall not include all or any part of the Bonus in respect of the year in which said termination occurs. If Woods is terminated for cause under paragraph 4.2, he shall not be entitled to
receive any payment, benefit, or compensation from the Company, by way of Base Salary, Bonus, benefits, severance payment or otherwise, except as expressly set forth in this paragraph 4.3. 

  

	 	4.4	 	The Company shall have the right to terminate this Agreement at any time, with or without cause, or for any reason. In the event of a termination under this paragraph, Woods shall
be entitled to receive, as of the effective date of the notice of termination (the “Termination Date”), the following: 

  

	 	(a)	 	his Base Salary for a period ending 12 months from the Termination Date, 

  

	 	(b)	 	benefits, as defined in paragraph 3.1 hereof, for a period ending 12 months from the Termination Date, 

	 	(c)	 	any unpaid Bonus earned by Woods up to and including the Termination Date, calculated in accordance with paragraphs 2.2 and 2.3 hereof, to the extent payable under paragraph 2.2
hereof, in respect of any year completed prior to the Termination Date, 

  

	 	(d)	 	If this Agreement is terminated by the Company other than for cause, Woods shall not be entitled to receive any payment, benefit, or compensation from the Company, by way of Base
Salary, Bonus, benefits, severance payment or otherwise, except as expressly set forth in this  paragraph 4.4. 

  

	5.	 	Confidential Information Non-Competition 

  

	 	5.1   (a)	 	Woods agrees that he shall not, without the prior written consent of the Company, use, divulge, disclose or make accessible to any other person, firm, partnership, corporation or
other entity any Confidential Information pertaining to the business of the Company, Alderwoods, or any of their respective affiliates, except (i) while employed by the Company, in the course of the business of and for the benefit of the Company, or
(ii) when required to do so by a court of competent jurisdiction, by any governmental agency having supervisory authority over the business of the Company, or by any administrative agency or legislative body (including a committee thereof) with
jurisdiction to order Woods or the Company to divulge, disclose or make accessible such information. For the purposes of this paragraph 5.1, “Confidential Information” shall mean all non-public information concerning the financial data,
strategic business plans, product development (or other proprietary product data), customer lists, marketing plans and other non public, proprietary and confidential information of the Company, Alderwoods, or any of their parent, subsidiary or
affiliated companies, or customers that is not otherwise available to the public (other than by Woods’ breach of this Agreement). 

  

	 	(b)	 	Woods agrees that upon the termination of his employment under this Agreement Woods will return to the Company, in good condition, all property of the Company in his possession or
under his control. 

  

	 	5.2	 	During the period of his employment hereunder and for two years thereafter, Woods agrees that, without the prior written consent of the Company, (a) he will not, either directly or
indirectly, either as principal, manager, agent, consultant, officer, stockholder, partner, investor, lender, or employee, or in any other capacity, carry on, be engaged in or have any financial interest in, any business which is in competition with
the business of the Company or Alderwoods or any of their parent, subsidiary or affiliated companies, and (b) he will not, on his own behalf or on behalf of any person, firm or company other than the Company, directly or indirectly, solicit or offer
employment to any person who has been employed by the Company, Alderwoods or any of their parent, subsidiary or affiliated companies at any time during the 12 months immediately preceding such solicitation. 

  

	 	5.3	 	For the purposes of paragraph 5.2, a business shall be deemed to be in competition with the Company or Alderwoods if it owns, operates or manages a funeral home or cemetery property
that is located within 10 miles of Rose Hills Memorial Park and Mortuary. Nothing in this Agreement shall be construed to bar Woods from accepting employment with a funeral home or cemetery property in any other geographic region.

  

	 	5.4	 	Woods and the Company agree that the covenant of paragraphs 5.2 and 5.3 are reasonable under the circumstances, and farther agree that if in the opinion of any court of competent
jurisdiction such restraint is not reasonable in any respect, that, without further action by the parties, said covenant shall be deemed modified so as to have the broadest possible scope, consistent with the opinion of said court, and shall be
enforceable as so modified. 

  

	 	5.5	 	 Woods agrees that any breach of the covenants of this section 5 would cause irreparable injury to the Company, Alderwoods and its affiliates for which monetary
damages would not be an adequate 

	 	 
remedy. Accordingly, Woods agrees that, in the event of such breach, the Company, Alderwoods and its affiliates, in addition to pursuing any other remedies
that they may have in law or in equity, (i) may cease making any payments otherwise required by this Agreement, and (ii) shall be entitled to a temporary injunction and permanent injunction restraining any further violation of this Agreement by
Woods. 

  
 6.     Arbitration

  

	 	6.1	 	Any and all disputes and claims arising from or in relation to this Agreement, with the exception of an action by the Company, Alderwoods and its affiliates for injunctive relief
under section 5 of this Agreement, shall be resolved through arbitration, in Los Angeles, California in accorance with the American Arbitration Associations National Rules for the Resolution of Employment Disputes in effect on the date such dispute
or claim arises. Any action for injunctive relief under section 5 hereof may be brought in any court of competent jurisdiction. 

  

	 	6.2	 	In the event that either party to this Agreement, or Alderwoods and its affiliates, brings a claim or action for enforcement of this Agreement, or otherwise relating to or arising
from this Agreement, the arbitrator shall have discretion to assess reasonable costs and expenses, including a reasonable attorney’s fee, against the non-prevailing party. Any dispute as to the reasonableness of any costs or expense shall be
resolved by the arbitrator. 

  
 7.
    Successors and Assigns 
  

	 	7.1	 	This Agreement shall inure to the benefit of and be binding upon the undersigned parties hereto and there respective successors and assigns. 

  

	 	7.2	 	Woods may not assign his performance of this Agreement without the prior, expressed written, consent of the Company. 

  

	8.	 	Survival of Covenants 

  

	 	8.1	 	The respective rights and obligations of the parties hereunder shall survive any termination of this Agreement to the extent necessary to the intended preservation of such rights
and obligations. Without limiting the generality of the foregoing, the provisions of section 5 hereof shall remain in effect as long as necessary to give effect thereto, notwithstanding the termination of this Agreement. 

  

	9.	 	Governing Law 

  

	 	9.1	 	This Agreement shall be construed, interpreted and governed in accordance with the laws of the State of California without reference to rules relating to conflicts of laws.

  
 10.    Effect on Prior Agreements

  

	 	10.1	 	This Agreement contains the entire understanding between the parties relating to the subject matter hereof and supersedes in all respects any prior or other agreement or
understanding between the Company, Alderwoods or any of their affiliates and Woods relating to the subject matter. 

	11.    Counterparts	 	

  

	 	11.1	 	This Agreement may be executed in two or more counterparts, each of which will be deemed an original. 

  
  
  

	ROSE HILLS COMPANY	  	 	 	 
				
	 By:
	  	 /s/    KENTON C.
Woods        

 Kenton C. Woods
	  	 	 	 
			
	 ALDERWOODS GROUP, INC.
	  	 	 	 
				
	By:	  	 /s/    PAUL A.
HOUSTON        

 Paul A. Houston
 President and CEO
	  	 Signed:
	 	 /s/    KENTON C.
WOODS    

 Kenton C.
Woods

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