Common use of XXEREAS Clause in Contracts

XXEREAS. Optionee is a key employee of SEI and SEI considers it desirable and in its best interest that Optionee be given an inducement to acquire a proprietary interest in SEI and an added incentive to advance the interests of SEI by possessing an option to purchase shares of the Class A common stock of SEI, no par value per share (the "Common Stock") in accordance with the Stewart Enterprises, Ixx. 0095 Incentive Compensation Plan (the "Plan"), which was adopted by the Board of Directors on August 24, 1995 and amended by the Board of Directors effective December 5, 1995, subject to shareholder approval of the Plan, as amended.