Document:

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                                                                   EXHIBIT 10.23

June 13, 2002

Big 5 Corp.
2525 E. El Segundo Blvd.
El Segundo, CA 90245

Ladies and Gentlemen:

Reference is hereby made to that certain Financing Agreement dated March 8, 1996
and amendments thereto (the "Financing Agreement"), as and between the lenders
thereto (the "Lenders"), The CIT Group/Business Credit, Inc., as Agent for the
Lenders and a Lender ("CIT"), and Big 5 Corp., a Delaware corporation, successor
by merger to United Merchandising Corp. (the "Company"). We refer also to that
certain Seventh Amendment to Financing Agreement between CIT, the Lenders and
the Company dated April 30, 2002 (the "Seventh Amendment"). Capitalized terms
used herein and not otherwise defined herein shall have the respective meanings
set forth in the Financing Agreement.

Pursuant to mutual agreement, CIT, the Lenders and the Company hereby agree to
delete numbered paragraph 3 of the Seventh Amendment and substitute the
following in lieu thereof:

        3. Consent. Subject to the terms and conditions herein, including,
           without limitation, the Conditions to Effectiveness set forth in
           Section 4 hereof, Agent and Lenders hereby consent to Borrower
           declaring and paying one or more dividends to Parent, in an aggregate
           amount not to exceed $30,000,000, for the purposes of (i)
           repurchasing or redeeming shares of common stock and preferred stock
           of Parent; (ii) repurchasing or redeeming Parent's 13.45% Senior
           Discount Notes due 2008 (including paying all outstanding principal,
           accrued and unpaid interest and other amounts related thereto); (iii)
           paying special one-time bonuses to directors and executive officers
           of Parent in an aggregate amount not to exceed $2,600,000.00; and
           (iv) paying fees and expenses, all related to and in connection with
           the consummation of the initial public offering of the common stock
           of Parent (the "IPO"); provided, that, (a) after giving effect to the
           payment of such dividend(s), Availability is at $35,000,000 and no
           Default or Event of Default is existing or has occurred and is
           continuing and (b) such dividend(s) shall be declared and paid by
           Borrower only to the extent that net proceeds from the IPO received
           by Parent are insufficient to satisfy all of the purposes described
           above, and the aggregate amount of such dividend(s) shall not exceed
           such insufficiency. For purposes of clarity, Borrower may declare and
           pay such dividend(s) following the first closing of the IPO and prior
           to the exercise, if any, of the underwriters' over-allotment option
           with respect to the IPO; provided, however, that in such event,
           Parent shall contribute to Borrower promptly after any exercise of
           the underwriters'

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Big 5 Corp.
Page 2

           over-allotment option the net proceeds it receives upon such
           exercise, and Borrower shall use such excess net proceeds to pay down
           the Line of Credit.

Please acknowledge your receipt and acceptance of this letter by executing and
returning the enclosed copy of this letter.

Sincerely,

THE CIT GROUP/BUSINESS CREDIT, INC.
(AS AGENT AND LENDER)

By: /s/ ILLEGIBLE
    ----------------------------------
Title: Vice President
       -------------------------------

FLEET CAPITAL CORPORATION (AS LENDER)

By:  /s/ MATTHEW R. VAN STEENHUYSE
    ----------------------------------
Title: Senior Vice President
       -------------------------------

PNC BANK, NATIONAL ASSOCIATION (AS LENDER)

By:  /s/ MARK A. TITO
    ----------------------------------
Title: Vice President
       -------------------------------

BANKAMERICA BUSINESS CREDIT, INC. (AS LENDER)

By:  /s/ ILLEGIBLE
    ----------------------------------
Title: Vice President
       -------------------------------

TRANSAMERICA BUSINESS CAPITAL CORPORATION,
AS SUCCESSOR TO TRANSAMERICA BUSINESS CREDIT (AS LENDER)

By:  /s/ ILLEGIBLE
    ----------------------------------
Title: Vice President
       -------------------------------

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Big 5 Corp.
Page 3

Agreed and Accepted:

BIG 5 CORP.

By: /s/ CHARLES P. KIRK
    --------------------------------------------------
Title: Senior Vice President & Chief Financial Officer
       -----------------------------------------------<PAGE>

                                                                   Exhibit 10.24

                        Big 5 Sporting Goods Corporation
                         2525 East El Segundo Boulevard
                          El Segundo, California 90245

                                  June __, 2002

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Dear _____:

This letter agreement sets forth our understanding regarding indemnification
obligations in the event of any registration under the Securities Act of 1933,
as amended (the "Act") of any shares of common stock, par value $0.01 per share
(the "Common Stock"), of Big 5 Sporting Goods Corporation (the "Company") that
you own in connection with an underwritten public offering.

You hereby agree to indemnify, defend and hold harmless the Company, each of its
directors, each of its officers who has signed the registration statement, and
each person, if any, who controls the Company within the meaning of the Act,
against any losses, claims, damages or liabilities (including reimbursement for
legal and other expenses) to which the Company or any such director, officer, or
controlling person may become subject under the Act or otherwise, in such manner
as is customary for registrations of the type then proposed and, in any event,
equivalent in scope to indemnities given by the Company in connection with such
registration, but only with respect to written information furnished by you in
your capacity as a selling stockholder in connection with such registration.
Your indemnification obligations will be limited to the amount of the net
proceeds you receive, after deducting underwriting commissions and discounts.

The indemnification obligations set forth above are in addition to any customary
indemnification agreement that you may be asked to enter into with any
underwriter of the public offering.

The Company hereby agrees to indemnify, defend and hold you harmless against any
losses, claims, damages or liabilities (including reimbursement for legal and
other expenses) to which you may become subject under the Act or otherwise, in
such manner as is customary for registrations of the type then proposed, but not
with respect to information furnished by you in your capacity as a selling
stockholder in connection with such registration.

In the event that indemnification under this letter agreement is either
unavailable or insufficient to hold harmless the indemnified party, then each
indemnifying party shall contribute to the amount paid or payable by such
indemnified party as a result of the losses, claims, damages or liabilities in
such proportion as is appropriate to reflect the relative benefits received. If
necessary under applicable law, relative fault will also be considered. No
person guilty of fraudulent misrepresentation (within the meaning of Section
10(f) of the Act) shall be entitled to contribution from any person who was not
guilty such fraudulent misrepresentation.

                                            Sincerely,

                                            Big 5 Sporting Goods Corporation,
                                            a Delaware corporation

                                            By:
                                               ---------------------------------
                                               Name:
                                               Its:

Acknowledged and agreed:

By:
   --------------------------------Executed in 6 Parts
                                             Counterpart No. (   )

                              NATIONAL EQUITY TRUST
                           OTC Growth Trust Series 22
                            REFERENCE TRUST AGREEMENT

     This  Reference  Trust  Agreement  dated  ________,  2002 among  Prudential
Investment  Management  Services  LLC, as  Depositor,  The Bank of New York,  as
Trustee and Prudential  Securities  Incorporated,  as Portfolio  Supervisor sets
forth certain  provisions in full and incorporates other provisions by reference
to the document entitled  "National Equity Trust, Trust Indenture and Agreement"
(the "Basic Agreement") dated February 2, 2000. Such provisions as are set forth
in full herein and such provisions as are incorporated by reference constitute a
single instrument (the "Indenture").

                                WITNESSETH THAT:

     In  consideration  of the  premises  and of the  mutual  agreements  herein
contained, the Depositor and the Trustee agree as follows: Part I.

                     STANDARD TERMS AND CONDITIONS OF TRUST

     Subject to the provisions of Part II hereof,  all the provisions  contained
in the Basic  Agreement are herein  incorporated  by reference in their entirety
and  shall be deemed  to be a part of this  instrument  as fully and to the same
extent as though said provisions had been set forth in full in this instrument.

A.   Article I, entitled "Definitions," shall be amended as follows:

(i)  Section  1.01-Definitions  shall be amended to add the following definition
     at the end thereof:

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                                      -2-

     "Portfolio  Supervisor" of the Trust shall have the meaning  assigned to it
in Part II of the Reference Trust Agreement.

B.   Article  III,  entitled  "Administration  of  Trust,"  shall be  amended as
     follows:

     (i) The third  paragraph of Section  3.05-Distribution  shall be amended by
deleting any reference to Depositor and replacing it with Portfolio Supervisor.

     (ii)  Section  3.14-Deferred  Sales  Charge  shall  be  amended  to add the
following sentences at the end thereof:

"References to Deferred Sales Charge in this Trust Indenture and Agreement shall
include any Creation and  Development  Fee  indicated  in the  prospectus  for a
Trust.  The  Creation  and  Development  Fee  shall be  payable  on each date so
designated  and in an amount  determined  as specified in the  prospectus  for a
Trust."

C.   Article VIII, entitled "Depositor," shall be amended as follows:

     (i) Section 8.07-Compensation shall be amended by deleting any reference to
Depositor and replacing it with Portfolio Supervisor.

D.   Article IX,  entitled  "Additional  Covenants;  Miscellaneous  Provisions,"
     shall be amended as follows:

     (i) The first sentence of Section 9.05 - Written Notice shall be amended by
deleting the language "Prudential Securities  Incorporated at One Seaport Plaza,
New  York,  New  York  10292"  and  replacing  it  with  "Prudential  Investment
Management LLC at 100 Mulberry Street,  Gateway Center Three, Newark, New Jersey
07102".

                                    Part II.

                     SPECIAL TERMS AND CONDITIONS OF TRUST

     The following special terms and conditions are hereby agreed to:

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                                      -3-

A.   The Trust is denominated National Equity Trust, OTC Growth Trust Series 22.

B.   The Units of the Trust shall be subject to a deferred sales charge.

C.   The publicly traded stocks listed in Schedule A hereto are those which,
     subject to the terms of this Indenture, have been or are to be deposited in
     Trust under this Indenture as of the date hereof.

D.   The term "Depositor" shall mean Prudential  Investment  Management Services
     LLC.

E.   The  term  "Portfolio   Supervisor"   shall  mean   Prudential   Securities
     Incorporated.

F.   The aggregate number of Units referred to in Sections 2.03 and 9.01 of the
      Basic Agreement is          as of the date hereof.

G.   A Unit of the Trust is hereby declared initially equal to 1/     th of the
     Trust.

H.   The term "First Settlement Date" shall mean                        , 2002.

I.   The terms "Computation Day" and "Record Date" shall be on such dates as the
     Sponsor shall direct.

J.   The term  "Distribution  Date" shall be on such dates as the Sponsor  shall
     direct.

K.   The term "Termination Date" shall mean          , 2003.

L.   The Trustee's Annual Fee shall be $.90 (per 1,000 Units) for 49,999,999 and
     below  units  outstanding  $.84 (per  1,000  Units) on the next  50,000,000
     Units,  $.78 (per 1,000 Units) on the next 100,000,000  Units and $.66 (per
     1,000 Units) on Units in excess of 200,000,000  Units.  In calculating  the
     Trustee's annual fee, the fee applicable to the number of units outstanding
     shall apply to all units outstanding.

M.   The Depositor's  Portfolio  supervisory service fee shall be $.25 per 1,000
     Units.

               [Signatures and acknowledgments on separate pages]

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