Carriage Services, Inc. (NYSE:CSV) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
ITEM 5.02
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DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF
DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS |
Payne have agreed to amend the terms of the Mr. Paynes employment
agreement to provide for a double trigger arrangement. That
employment agreement now provides that the voluntary termination
by Mr. Payne of his employment to Section 2.3(b) (not for Good
Reason) at any time will automatically result in the termination
of all further compensation and benefits as of the effective date
of Mr. Paynes employment termination, including unvested awards.
The Company will, however, remain required to pay that portion of
Mr. Paynes base salary accrued through the date on which his
employment was terminated as well as all benefits payable under
the governing provisions of any benefit plan or program of the
Company in which Mr. Payne participated at his employment
termination date.
Second Amended and Restated Employment Agreement the (Third
Amendment) between Mr. Payne and the Company and is qualified in
its entirety by reference to the full text of the Third
Amendment, a copy of which is attached hereto as Exhibit 10.1 and
is incorporated herein by reference.
into a Third Amendment to the Second Amended and Restated
Employment Agreement, dated effective as of March 14, 2012 and
amended by the First Amendment (dated effective as of March 3,
2014) and Second Amendment (dated effective as of March 21, 2017)
between Melvin C. Payne, its Chairman of the Board of Directors
and Chief Executive Officer.
the amendment to Mr. Paynes employment agreement. A copy of the
press release is furnished as Exhibit 99.1 to this Current Report
on Form 8-K.
information presented herein under Item 7.01 and set forth in the
attached Exhibit 99.1 is deemed to be furnished solely to Item
7.01 of this Current Report on Form 8-K and shall not be deemed
filed for purposes of Section 18 of the Securities Exchange Act
of 1934, as amended (the Exchange Act), or otherwise subject to
the liabilities of that section, nor shall such information or
the exhibit be deemed incorporated by reference into any filing
under the Securities Act of 1933, as amended, or the Exchange
Act.
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(d)
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Exhibits.
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The following exhibit is filed as part of this current
report on Form 8-K: |
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10.1 Third Amendment to the Second Amended and Restated
Employment Agreement by and between Carriage Services, Inc. and Melvin C. Payne, dated effective as of May 12, 2017. |
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The following exhibit is filed as part of this current
report on Form 8-K: |
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99.1 Press Release dated May 12, 2017, discussing the
amendment to Mr. Paynes Employment 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. Carriage Services, Inc. (NYSE:CSV) Recent Trading Information
Carriage Services, Inc. (NYSE:CSV) closed its last trading session down -0.21 at 26.75 with 54,769 shares trading hands.