On November 5, 2019, Carriage Services, Inc. (the “Company”) entered into new employment agreements with each of its executive officers (individually an “Agreement” and collectively the “Agreements”). The Agreements are for terms of three years (five years in the case of Melvin C. Payne) and obligate the Company to make certain payments and provide certain benefits to the Company’s executive officers upon a qualifying termination of employment as defined within the Agreements. to the Agreements, the executive officers agreed to certain non-competition provisions during the term of his or her employment and for a period of 24 months thereafter. The Agreements supersede any prior agreements entered into by the Company and any of the executive officers. The Agreements for all of the executive officers are identical, except as noted herein.

to the Agreements, the executive officers will receive minimum annual base salaries as follows:

The executive officers are eligible to receive discretionary annual and long-term cash incentive bonuses, as well as discretionary annual and long-term equity incentive awards. The Agreements provide the executive officers with certain payments and benefits if his or her employment with the Company terminates for any of the following reasons:

•Death;

•Disability;

•Involuntary termination without cause (as defined in the Agreements); or

The foregoing description is only a summary of the terms of the Agreements and does not purport to be a complete description of such documents, and is qualified in its entirety by reference to the Agreements, copies of which are attached as exhibits hereto and which are incorporated by reference into this Item 5.02.

CARRIAGE SERVICES INC Exhibit
EX-10.1 2 employmentagreementformpay.htm EXHIBIT 10.1 Exhibit Exhibit 10.1EMPLOYMENT AGREEMENTTHIS EMPLOYMENT AGREEMENT (the “Agreement”),…
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About Carriage Services, Inc. (NYSE:CSV)

Carriage Services, Inc. is a provider of death care services and merchandise in the United States. The Company operates in two business segments: Funeral Home Operations and Cemetery Operations. The Funeral Homes segment provides funeral services (traditional burial and cremation) and sells related merchandise, such as caskets and urns. Its cemetery products and services include interment services, the rights to interment in cemetery sites (primarily grave sites, mausoleum crypts and niches) and related cemetery merchandise, such as memorials and vaults. It serves suburban and rural markets. It provides funeral and cemetery services and products on both at-need (time of death) and preneed (planned prior to death) basis. It also maintains trusts in connection with funeral home and cemetery operations, including preneed funeral trusts, preneed cemetery merchandise and service trusts and cemetery perpetual care trusts. It operates approximately 167 funeral homes and 32 cemeteries.