EXHIBIT 10.28
May __, 1997
Xx. Xxxxxx X. Xxxxxx
000 Xxxx 00xx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Dear Xx. Xxxxxx:
The Topps Company, Inc. (the "Company") hereby agrees with you to the following
amendment (the "Amendment") to your Employment Agreement with the Company,
dated as of October 28, 1991, as amended on May 18, 1994, May 19, 1995 and
May 22, 1996 (the "Agreement").
This will confirm your consent (i) to the limited waiver of the 10% increase in
the annual base salary to be paid to you pursuant to section 5(a) of the
Agreement for your services rendered during the Company's fiscal year ending
February 28, 1998 only, and (ii) to a target annual bonus opportunity of 20% of
annual base salary for the Company's fiscal year ending February 28, 1998 only.
The amendments set forth herein shall be limited precisely as written and
shall not be deemed to be a modification or waiver of any right or remedy which
the parties hereto may not have or may have in the future under or in
connection with the Agreement, including, without limitation, the right to have
all termination payments required to be made under Section 7 of the Agreement
calculated to include all salary increases required to have been provided under
the terms of the Agreement, without regard to the limited waivers of such
increases made by the amendments to the Agreement dated May 18, 1994, May 19,
1995 and May 22, 1996. Except as provided herein, the Agreement shall remain
unchanged and in full force and effect. This Amendment may be executed in
counterparts, which taken together shall constitute one and the same amendatory
instrument.
Xx. Xxxxxx X. Xxxxxx
May- ,1997
Page 2
This Amendment shall be governed by and construed and enforced in accordance
with the laws of the State of New York.
Very truly yours,
TOPPS COMPANY, INC.
By:________________________ ______________________
Xxxxxxxxx Xxxxxx Xxxxxx X. Xxxxxx
Vice President-Chief
Financial Officer
