First Amendment to Severance Protection Agreement between Gadzooks Management, L.P. and Gerald R. Szczepanski

Summary

This amendment updates a previous Severance Protection Agreement originally made between Gadzooks, Inc. and Gerald R. Szczepanski. Due to a company restructuring, Gadzooks Management, L.P. now replaces Gadzooks, Inc. as the employer and becomes responsible for all terms and obligations under the original agreement. All other provisions of the original agreement remain unchanged.

EX-10.28 3 d92913ex10-28.txt FIRST AMENDMENT TO SEVERANCE PROTECTION AGREEMENT EXHIBIT 10.28 FIRST AMENDMENT TO SEVERANCE PROTECTION AGREEMENT THIS FIRST AMENDMENT TO SEVERANCE PROTECTION AGREEMENT (the "AMENDMENT") is effective as of the 1st day of June, 2000, by and between Gadzooks Management, L.P. (the "COMPANY") and Gerald R. Szczepanski (the "EXECUTIVE"). WHEREAS, Gadzooks, Inc. and the Executive have entered into that certain Severance Protection Agreement dated as of September 1, 1998 (the "AGREEMENT"); and WHEREAS, as of June 2000, Gadzooks, Inc. completed a restructuring of its organization whereby, among other things, it formed the Company and certain employees of Gadzooks, Inc., including the Executive, became employees of the Company; and WHEREAS, the parties now wish to amend the Agreement to reflect that the Company is subject to and bound by the terms, conditions, covenants, representations, agreements, rights and remedies set forth in the Agreement. NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 1. Amendment. Effective as of June 1, 2000, Gadzooks Management, L.P. will replace Gadzooks, Inc. as the "Company" in the Agreement and will be subject to and bound by the terms, conditions, covenants, representations, agreements, rights and remedies set forth in the Agreement. 2. Effect on Agreement. Except as specifically modified herein, the Agreement shall continue in full force and effect. [Signature Page Follows] IN WITNESS WHEREOF, this Amendment has been executed by the parties hereto as of the day and year first above written. GADZOOKS MANAGEMENT, L.P. By: Gadzooks, Inc., its general partner By: /s/ James A. Motley ----------------------------- Name: James A. Motley ----------------------------- Title: Chief Executive Officer ----------------------------- /s/ Gerald R. Szczepanski ----------------------------------------------- Gerald R. Szczepanski Gadzooks, Inc. By: /s/ James A. Motley -------------------------------------- Name: James A. Motley -------------------------------------- Title: Chief Financial Officer --------------------------------------