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Executive Retirement Agreement

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Title:

Executive Retirement Agreement

Entities:

Gadzooks Inc; Gadzooks, Inc.

Date:

2001

Size:

Preview shows 2KB of 8KB total

Price:

$33

ID:

#1585629

► Compensation ► Retirement Agmt. ► Executive Retirement Agreements
► Retail ► Apparel

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                         EXECUTIVE RETIREMENT AGREEMENT





         Agreement made on July 31, 2001, between Gadzooks Management, L.P., a

Texas limited partnership (the "COMPANY"), and Gerald R. Szczepanski

("EXECUTIVE").



                                    RECITALS



         A. Executive is currently employed by the Company.



         B. The Company and Executive desire to enter into certain agreements

providing for certain events upon the Executive's retirement from the Company.



         NOW, THEREFORE, in consideration of the premises and mutual covenants

herein contained and other good and valuable consideration, the receipt and

sufficiency of which are hereby acknowledged, the parties hereto agree as

follows:



         1. Eligibility. The Executive or his estate, devisees or heirs, as the

case may be, shall be eligible to receive the benefits provided for in this

Agreement so long as he is an officer of the Company at or above the level of

vice president (an "EXECUTIVE OFFICER") on the termination date of the

Executive's employment with the Company as a result of either (i) the

Executive's death, (ii) the Company's termination, without Cause (as defined

herein), of the Executive's employment with the Company, or (iii) the

Executive's retirement from employment with the Company (each, the "RETIREMENT

DATE"). The Executive shall cease to be eligible for the benefits provided for

in this Agreement if his employment with the Company is terminated by the

Company for Cause, and this Agreement shall automatically terminate and be of no

further force or effect upon the date of such termination. The Company shall

have the right to terminate the Executive's employment at any time for any of

the following reasons, each of which is referred to herein as "Cause": (i) any

act of fraud or dishonesty with respect to any aspect of the Company's or any

affiliate's business; (ii) continued use of illegal drugs; (iii) as a result of

the Executive's gross negligence or willful misconduct, the Executive shall

violate, or cause the Company to violate, any applicable federal or state

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