EXHIBIT 10.27
NEBRASKA BOOK COMPANY, INC.
0000 Xxxxx 00xx Xxxxxx
Xxxxxxx, XX 00000-0000
March 4, 2004
Mr. [______]
c/o Nebraska Book Company, Inc.
0000 Xxxxx 00xx Xxxxxx
Xxxxxxx, XX 00000-0000
Re: Amendment to Memorandum of Understanding
Dear Mr. [____]:
Reference is hereby made to the Memorandum of Understanding, dated as
of July 1, 1999, between Nebraska Book Company, Inc., a Kansas corporation (the
"Employer"), and ___________ (the "Memorandum"). Capitalized terms used herein
without definition shall have the meanings assigned to such terms in the
Memorandum.
We hereby agree with you to amend the Memorandum as follows:
1. The Memorandum shall be amended by adding the following new section
immediately after the Section titled "Term":
"Termination of Employment Upon Expiration of Term:
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If the Company has given the Executive notice of its intention to
terminate the Executive's employment at the end of the then current
Term, the Executive shall be entitled to (i) continued payment of base
salary for a period of one year following the expiration of such Term
and (ii) continuation of any health, life insurance and disability
insurance benefits provided to the Executive immediately prior to such
termination for a period of one year following the expiration of such
Term to the extent permitted by the Company's benefit plans."
2. The Memorandum shall be further amended by deleting the sections titled
"Tag-Along and Drag-Along Rights" and "Non-Transferability of Stock".
In all other respects, the Memorandum shall remain in full force and
effect.
Please indicate your agreement to the foregoing by signing and
returning to the Employer a counterpart of this letter.
[THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK.]
Very truly yours,
NEBRASKA BOOK COMPANY, INC.
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By:
Title:
Agreed to and accepted by:
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