EXHIBIT 10.39
AMENDMENT TO
DIRECTOR RESTRICTED PHANTOM UNIT AGREEMENT
UNDER
STONEMOR AMENDED AND RESTATED 2019 LONG-TERM INCENTIVE PLAN
This Amendment to Director Restricted Phantom Unit Agreement (the “Amendment”) dated this _15th_ day of December, 2021 is made by and between StoneMor Inc., a Delaware corporation (the “Company”) and David Miller, a director of the Company (the “Participant”).
BACKGROUND:
The Company and the Participant are currently parties to a Director Restricted Phantom Unit Agreement dated July 16, 2019 (the “Original Agreement”) pursuant to which the Participant has elected to defer a portion of the compensation payable to the Participant for service as a director and to credit such amounts in the form of Phantom Units under the StoneMor Amended and Restated 2019 Long-Term Incentive Plan, as amended (the “Plan”) to a mandatory deferred compensation account established by the Company for the Participant. The parties now desire to amend the Original Agreement to increase the amount of future deferrals for all periods after December 31, 2021.
NOW, THEREFORE, the Company and the Participant, each intending to be legally bound hereby, agree as follows:
AMENDMENT
“1.1 Creation of Mandatory Deferred Compensation Account. Commencing on January 1, 2022, compensation in the annual amount of $50,000 (“Annual Deferral”) payable to the Participant in consideration for service as a Director shall be deferred and credited, in the form of Phantom Units, to a mandatory deferred compensation account (the “Mandatory Deferred Compensation Account”) established by the Company for the Participant.”
GENERAL PROVISIONS
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IN WITNESS WHEREOF, the parties hereto, intending to be legally bound hereby, have executed this Amendment as of the day first above written.
STONEMOR INC. | |
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By: | /s/ Austin K. So |
| Austin K. So |
| Senior Vice President, Chief |
| Legal Officer and Secretary |
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/s/ David Miller | |
David Miller | |
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