Document:

exv10w1

 

Exhibit 10.1

AMENDMENT NO. 1 TO

EMPLOYMENT AGREEMENT

     This Amendment No. 1 to Employment Agreement is made as of the 13th day of March,
2006, by and between Stewart Enterprises, Inc., a Louisiana corporation (the “Company”), and Thomas
M. Kitchen (the “Employee”).

W I T N E S S E T H:

     WHEREAS, the Company has entered into an Employment Agreement with the Employee dated as of
December 2, 2004 (the “Employment Agreement”); and

     WHEREAS, the Company wishes to increase the Employee’s base salary and bonus opportunity under
the Employment Agreement.

     NOW, THEREFORE, for and in consideration of the continued employment of Employee by the
Company and the payment of salary and other compensation to Employee by the Company, the parties
hereto agree as follows:

Except as expressly amended herein, all of the terms and provisions of the Employment Agreement

shall remain in full force and effect.

Appendix A to the Employment Agreement shall be amended to read in its entirety as follows:

Appendix A to Employment Agreement

Between Stewart Enterprises, Inc.

and

Thomas M. Kitchen

Base Salary, Bonus Compensation and Benefits

	1.	 	Employee’s title(s) shall be Executive Vice President and Chief Financial Officer, Employee’s
Base Salary shall be $325,000 (retroactive to January 1, 2006) and Employee’s principal work
location shall be the New Orleans, Louisiana metropolitan area.

	2.	 	For Fiscal Year 2006 (“FY 2006”), the Employee shall be eligible to receive a maximum Bonus
of up to 130% of Base Salary. The criteria used to determine the Employee’s FY 2006 Bonus
will be reflected in a subsequent amendment to this Appendix A to the Employment Agreement.

 

 

	 	 	 	 	 
	 	Agreed to and accepted:

STEWART ENTERPRISES, INC.

 	 
	Date:  March 13, 2006 	By:  	/s/ JAMES W. MCFARLAND
 	 
	 	 	James W. McFarland 	 
	 	 	Compensation Committee Chairman 	 
	 

	 	 	 	 	 
	 	EMPLOYEE

 	 
	Date:  March 13, 2006 	/s/ THOMAS M. KITCHEN
 	 
	 	Thomas M. Kitchenexv10w2

 

	 	 	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 

Exhibit 10.2

AMENDMENT NO. 1 TO

EMPLOYMENT AGREEMENT

     This Amendment No. 1 to Employment Agreement is made as of the 13th day of March,
2006, by and between Stewart Enterprises, Inc., a Louisiana corporation (the “Company”), and
Lawrence B. Hawkins (the “Employee”).

W I T N E S S E T H:

     WHEREAS, the Company has entered into an Employment Agreement with the Employee dated as of
November 1, 2004 (the “Employment Agreement”); and

     WHEREAS, the Company wishes to increase the Employee’s base salary and bonus opportunity under
the Employment Agreement.

     NOW, THEREFORE, for and in consideration of the continued employment of Employee by the
Company and the payment of salary and other compensation to Employee by the Company, the parties
hereto agree as follows:

     Except as expressly amended herein, all of the terms and provisions of the Employment
Agreement shall remain in full force and effect.

     Appendix A to the Employment Agreement shall be amended to read in its entirety as follows:

Appendix A to Employment Agreement

Between Stewart Enterprises, Inc.

and

Lawrence B. Hawkins

Base Salary, Bonus Compensation and Benefits

	1.	 	Employee’s title(s) shall be Executive Vice President and President — Investors Trust, Inc.,
Employee’s Base Salary shall be $325,000 (retroactive to January 1, 2006) and Employee’s
principal work location shall be the Dallas, Texas metropolitan area.

	2.	 	For Fiscal Year 2006 (“FY 2006”), the Employee shall be eligible to receive a maximum Bonus
of up to 130% of Base Salary. The criteria used to determine the Employee’s FY 2006 Bonus
will be reflected in a subsequent amendment to this Appendix A to the Employment Agreement.

 

 

	 	 	 	 	 
	 	Agreed to and accepted:

STEWART ENTERPRISES, INC.

 	 
	Date:  March 13, 2006 	By:  	/s/  JAMES W. MCFARLAND
 	 
	 	 	James W. McFarland 	 
	 	 	Compensation Committee Chairman 	 
	 

	 	 	 	 	 
	 	EMPLOYEE

 	 
	Date:  March 13, 2006 	/s/ LAWRENCE B. HAWKINS
 	 
	 	Lawrence B. Hawkinsexv10w18

 

Exhibit 10.18

AMENDMENT TO

SEVERANCE COMPENSATION AGREEMENT

     This Amendment (this “Amendment”) to the Severance Compensation Agreement by and between
Citizens Business Bank (the “Bank”) and D. Linn Wiley (the “Executive”) dated April 1, 2004 (the
“Agreement”) is entered into on March 18, 2005 by and between the Bank and the Executive.
Capitalized terms used but not otherwise defined herein shall have the respective meanings given
them in the Agreement.

     The parties hereby agree as follows:

     Section 1 of the Agreement is amended and replaced with the following:

	 	1.	 	Compensation Upon a Change in Control

(a) Payment Amount and Terms. In the event that a Change in Control occurs during
the employment of the Executive and

(i) the Executive’s employment is terminated by the Company or the Bank or
any successor to the Company or the Bank other than for Cause (as defined
herein) within one (1) year of the completion of such Change in Control; or

(ii) the Executive terminates or resigns Executive’s employment for a Good
Reason (as defined herein) within one (1) year of the completion of such
Change in Control;

the Executive shall receive an amount equal to two times the Executive’s annual base
compensation for the last calendar year ended immediately preceding the Change in
Control, plus two times the average annual bonus received for the last two calendar
years ended immediately preceding the Change in Control. Such amounts, less
applicable withholding, employment and payroll taxes (which taxes shall be paid upon
termination of Executive’s employment or at the time payments are made hereunder as
required by law), shall be paid (without interest or other adjustment) in 120 equal
monthly installments on the first day of each month commencing with the first such
day that is at least six (6) months after the effective date of the termination of
the Executive’s employment and continuing for 119 successive months thereafter.
This payment schedule is intended to comply with the requirements of Section 409A of
the Internal Revenue Code and shall be interpreted consistent therewith.

(b) Beneficiaries. The Executive may designate in writing (only on a form provided
by the Company and delivered by the Executive to the Company before the Executive’s
death) primary and contingent beneficiaries to receive the balance

 

 

of any payments under Section 1(a) that are not made prior to the Executive’s death
and the proportions in which such beneficiaries are to receive such payments. The
total amount of the balance of such payment shall be paid to such beneficiaries in a
single unreduced lump sum payment made within ninety (90) days following the
Executive’s death. The Executive may change beneficiary designations from time to
time by completing and delivering additional such forms to the Company. The last
written beneficiary designation delivered by the Executive to the Company prior to
the Executive’s death will control. If the Executive fails to designate a
beneficiary in such manner, or if no designated beneficiary survives the Executive,
then Executive’s payment balance shall be paid to the Executive’s estate in an
unreduced lump sum payment within ninety (90) days following the Executive’s death.

The other provisions of the Agreement shall remain in full force and effect.

This Amendment is executed on and as of the date first set forth above.

	 	 	 	 	 
	 	CITIZENS BUSINESS BANK

 	 
	 	By:  	/s/ Edward J. Biebrich, Jr.
 	 
	 	 	Name:  	Edward J. Biebrich, Jr. 	 
	 	 	Title:  	Executive Vice President and Chief Financial
Offier 	 
	 
	 	 	 
	 	                                              /s/ D. Linn Wiley
 	 
	 	D. Linn Wileyexv10w19

 

Exhibit 10.19

AMENDMENT TO

SEVERANCE COMPENSATION AGREEMENT

     This Amendment (this “Amendment”) to the Severance Compensation Agreement by and between
Citizens Business Bank (the “Bank”) and Edward J. Biebrich, Jr. (the “Executive”) dated April 1,
2004 (the “Agreement”) is entered into on March 18, 2005 by and between the Bank and the Executive.
Capitalized terms used but not otherwise defined herein shall have the respective meanings given
them in the Agreement.

     The parties hereby agree as follows:

     Section 1 of the Agreement is amended and replaced with the following:

	 	1.	 	Compensation Upon a Change in Control

(a) Payment Amount and Terms. In the event that a Change in Control occurs during
the employment of the Executive and

(i) the Executive’s employment is terminated by the Company or the Bank or
any successor to the Company or the Bank other than for Cause (as defined
herein) within one (1) year of the completion of such Change in Control; or

(ii) the Executive terminates or resigns Executive’s employment for a Good
Reason (as defined herein) within one (1) year of the completion of such
Change in Control;

the Executive shall receive an amount equal to two times the Executive’s annual base
compensation for the last calendar year ended immediately preceding the Change in
Control, plus two times the average annual bonus received for the last two calendar
years ended immediately preceding the Change in Control. Such amounts, less
applicable withholding, employment and payroll taxes (which taxes shall be paid upon
termination of Executive’s employment or at the time payments are made hereunder as
required by law), shall be paid (without interest or other adjustment) in 180 equal
monthly installments on the first day of each month commencing with the first such
day that is at least six (6) months after the effective date of the termination of
the Executive’s employment and continuing for 179 successive months thereafter.
This payment schedule is intended to comply with the requirements of Section 409A of
the Internal Revenue Code and shall be interpreted consistent therewith.

(b) Beneficiaries. The Executive may designate in writing (only on a form provided
by the Company and delivered by the Executive to the Company before the Executive’s
death) primary and contingent beneficiaries to receive the balance

 

 

of any payments under Section 1(a) that are not made prior to the Executive’s death
and the proportions in which such beneficiaries are to receive such payments. The
total amount of the balance of such payment shall be paid to such beneficiaries in a
single unreduced lump sum payment made within ninety (90) days following the
Executive’s death. The Executive may change beneficiary designations from time to
time by completing and delivering additional such forms to the Company. The last
written beneficiary designation delivered by the Executive to the Company prior to
the Executive’s death will control. If the Executive fails to designate a
beneficiary in such manner, or if no designated beneficiary survives the Executive,
then Executive’s payment balance shall be paid to the Executive’s estate in an
unreduced lump sum payment within ninety (90) days following the Executive’s death.

The other provisions of the Agreement shall remain in full force and effect.

This Amendment is executed on and as of the date first set forth above.

	 	 	 	 	 
	 	CITIZENS BUSINESS BANK

 	 
	 	By:  	/s/ D. Linn Wiley
 	 
	 	 	Name:  	D. Linn Wiley 	 
	 	 	Title:  	President and Chief Financial Officer 	 
	 
	 	 	 
	 	                                              /s/ Edward J. Biebrich, Jr.
 	 
	 	EDWARD J. BIEBRICH, JR.

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