Exhibit 10.1
StoneMor GP LLC
3600 Horizon Boulevard, Suite 100
Trevose, PA 19053
September 19, 2019
ORE Management LLC
Attention: Garry P. Herdler
Dear Garry:
This letter agreement, when signed by you (this “Agreement”), sets forth the terms upon which StoneMor GP LLC (the “Company”) agreed to enter into this Consulting Agreement with ORE Management LLC (“you” or the “Consultant”), a limited liability company, through Garry P. Herdler (“Herdler”), the Consultant’s sole and managing member, to engage Consultant to provide consulting services to the Company on the terms and conditions set forth herein.
This Consulting Agreement sets forth the terms upon which Consultant will provide consulting services to the Company.
1.Services:
The Company hereby engages Consultant to: (a) assist Alvarez & Marsal Private Equity Performance Improvement Group, LLC (“A&M”) in the validation of certain aspects of the Company’s Phase II Performance Improvement Plan with accelerated cost reductions to be implemented in 2H 2019 and 2020; (b) work with A&M and the Company to develop a written action plan and strategy (the “Plan”) to implement the annualized cost reduction targets identified by A&M pursuant to the Statement of Work between A&M and StoneMor Partners L.P. dated as of August 26, 2019 (the “A&M Engagement Letter”); and (c) perform other services related to the development and implementation of the Plan as may be directed by the Company’s President and Chief Executive Officer (the “CEO”) during the Term (the “Services”). Consultant and A&M shall deliver the “Deliverables” (as defined in the A&M Engagement Letter) for the Plan to the Company prior to the conclusion of the Term. In providing the Services, Consultant will report to the CEO and will work closely with other management of the Company as directed by the CEO. Consultant will comply with the Company’s policies with respect to workplace safety,non-discrimination,non-harassment and business ethics.
2.Term:
This Agreement is effective on September 23, 2019 (the “Effective Date”) and shall remain in effect for a period of 14 weeks following the Effective Date (i.e. until December 30, 2019) (the “Term”).
3.Bi-Weekly Fee:
In consideration for the Services, the Company shall compensate Consultant at abi-weekly fee of $21,500.00 during the Term, for a total fee compensation of $150,500.00. The fee shall be payable on abi-weekly basis at the beginning of eachbi-weekly period, with the first such fee payment to be made on September 23, 2019 and the last such fee payment to be made on December 16, 2019. Consultant will provide invoices to support thisbi-weekly fee payment.
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