On October 24, 2018, the Board approved the First Amendment to The Carriage Services, Inc. 2017 Omnibus Incentive Plan (the “Amendment”). The Amendment clarifies that unless otherwise specified in writing, unvested awards are forfeited when a recipient’s employment with the Company is terminated for any reason. 

On October 29, 2018, Mark R. Bruce informed us that he would resign from his position as Executive Vice President and Chief Operating Officer, effective November 1, 2018. In connection with his resignation, we entered into a separation and release agreement (the “Separation Agreement”) with Mr. Bruce, which provides for (i) continuation of Mr. Bruce’s base salary for 18 months; and (ii) payment by the Company of continued coverage under the Consolidated Omnibus Budget Reconciliation Act for up to 18 months, to the extent Mr. Bruce makes such an election. The Separation Agreement, which terminates Mr. Bruce’s employment agreement with the Company, contains customary release, confidentiality, non-competition, non-solicitation and non-disparagement provisions.