EXHIBIT 10.32
AMENDMENT NO. 2 TO EMPLOYMENT
AGREEMENT
This Amendment No. 2 to the Employment
Agreement (the “ Amendment ”) is made as of
October 17, 2008, by and between RathGibson, Inc., RGCH Holdings
Corp., RG Tube Holdings LLC (as assignee of RGCH Holdings LLC)
(collectively, the “ Employers ”), and Barry
Nuss (the “ Executive ”).
WHEREAS, the Employers and the Executive
are parties to an Employment Agreement, dated as of April 17, 2006,
as amended by Amendment No. 1 to Employment Agreement dated June
15, 2007 (the “ Employment Agreement ”);
and
WHEREAS, the Employers and the Executive
desire to amend the Employment Agreement.
NOW, THEREFORE, the parties agree as
follows:
1.
A new Section 4.8 shall be added
to the Employment Agreement, providing in its entirety as
follows:
“4.8
Retention Bonus
. The Executive shall be entitled
to receive a retention bonus in the amount of $50,000 (the “
Retention Bonus ”), payable as provided in Section
6.2(e) , as long as the Executive remains employed by the
Company until the earlier of: (a) the date that is fourteen (14)
days after the date on which the Company provides notice to the
Executive of termination of his employment; or (b) January 31, 2009
(the “ Retention Date ”). Notwithstanding
the foregoing, the Executive shall not be entitled to receive the
Retention
