Document:

<PAGE>   1

                                                                    EXHIBIT 10.2

                                October 23, 2000

TO THE LENDERS PARTY TO THE REVOLVING
CREDIT AGREEMENT REFERRED TO BELOW

        Re: First Amendment to Revolving Credit Agreement

Ladies and Gentlemen:

        We refer to the Revolving Credit Agreement dated as of August 31, 2000
(the "Credit Agreement") among THQ Inc. (the "Borrower"), each of Union Bank of
California, N.A., BNP Paribas and Pacific Century Bank, N.A. (the "Lenders") and
Union Bank of California, N.A., as administrative agent (in such capacity, the
"Agent") for the Lenders and as syndication agent and arranger. Terms defined in
the Credit Agreement and not otherwise defined herein have the same respective
meanings when used herein, and the rules of interpretation set forth in Sections
1.2 and 1.3 of the Credit Agreement are incorporated herein by reference.

        1. Effective as of the date of this letter amendment but subject to the
terms and conditions hereof, part III of Schedule 1 of the Credit Agreement is
amended in full to read as follows:

              "III.    Advance Sublimit

<TABLE>
<CAPTION>
                       Month                     Amount
                       -----                     ------
<S>                                              <C>
                       January                   $35,000,000
                       February                  $15,000,000
                       March                     $15,000,000
                       April                     $15,000,000
                       May                       $15,000,000
                       June                      $15,000,000
                       July                      $15,000,000
                       August                    $15,000,000
                       September                 $15,000,000
                       October                   $30,000,000
                       November                  $50,000,000
                       December                  $50,000,000"
</TABLE>

<PAGE>   2

Union Bank of California, N.A.
BNP Paribas
Pacific Century Bank, N.A.
October 23, 2000
Page 2

        2. The Borrower hereby represents and warrants for the benefit of the
Lenders and the Agent that (a) the representations and warranties contained in
the Credit Documents are correct in all material respects on and as of the date
of this letter amendment, before and after giving effect to the same, as if made
on and as of such date, and (b) no event has occurred and is continuing, or
would result from the effectiveness of this letter amendment, that constitutes a
Default.

        3. This letter amendment shall become effective when the Agent has
received all of the following, in form and substance satisfactory to the Agent
and in the number of originals requested thereby: (a) this letter amendment,
duly executed by the Borrower and the Lenders; (b) a consent to this amendment,
duly executed by THQ/Jakks; and (c) such other approvals, opinions, evidence and
documents as any Lender may reasonably request.

        4. On and after the effective date of this letter amendment, each
reference in the Credit Agreement to "this Agreement," "hereunder," "hereof,"
"herein" or words of like import referring to the Credit Agreement, and each
reference in the other Credit Documents to "the Credit Agreement," "thereunder,"
"thereof," "therein" or words of like import referring to the Credit Agreement,
shall mean and be a reference to the Credit Agreement as amended by this letter
amendment. The Credit Agreement, as amended by this letter amendment, is and
shall continue to be in full force and effect and is hereby ratified and
confirmed in all respects.

        5. This letter amendment may be executed in any number of counterparts
and by any combination of the parties hereto in separate counterparts, each of
which counterparts shall be an original and all of which taken together shall
constitute one and the same letter amendment.

<PAGE>   3

Union Bank of California, N.A.
BNP Paribas
Pacific Century Bank, N.A.
October 23, 2000
Page 3

        6. THIS LETTER AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND
ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF CALIFORNIA WITHOUT
REFERENCE TO THE CHOICE-OF-LAW PRINCIPLES THEREOF.

                                            Very truly yours,

                                            THQ INC.

                                            By: /s/ FRED GYSI
                                               ---------------------------------
                                               Fred Gysi
                                               Senior Vice President,
                                               Finance & Administration
                                               & Chief Financial Officer

Agreed as of the date first written above:

UNION BANK OF CALIFORNIA, N.A.,
  as Agent and Lender

By: /s/ ANN FORBES
   --------------------------------
       Ann Forbes
       Vice President

BNP PARIBAS

By: /s/ INGA BUSCHBAUM
   --------------------------------
Name:  Inga Buschbaum

Title: Vice President
       International Division Manager

<PAGE>   4

Union Bank of California, N.A.
BNP Paribas
Pacific Century Bank, N.A.
October 23, 2000
Page 4

PACIFIC CENTURY BANK, N.A.

By: /s/ JILL S. SCHUBERTH
   --------------------------------
Name: Jill S. Schuberth

Title: Vice President
<PAGE>   5

                                GUARANTOR CONSENT

        Effective as of October 23, 2000, THQ/JAKKS PACIFIC LLC, a Delaware
limited liability company, as guarantor under its Guaranty dated as of August
31, 2000 (the "Guaranty") in favor of the financial institutions party to the
Credit Agreement referred to below (the "Lenders") and Union Bank of California,
N.A., as administrative agent (the "Agent") for the Lenders, hereby consents to
the First Amendment to Revolving Credit Agreement dated as of October 23, 2000,
substantially in the form attached hereto as Exhibit A (the "Amendment"), among
THQ Inc., the Lenders and the Agent and hereby confirms and agrees that the
Guaranty is and shall continue to be in full force and effect and is ratified
and confirmed in all respects, except that, on and after the effective date of
the Amendment, each reference in the Guaranty to "the Credit Agreement,"
"thereunder," "thereof," "therein" or any other expression of like import
referring to the Credit Agreement (as defined in the Amendment) shall mean and
be a reference to the Credit Agreement as amended by the Amendment.

                                            THQ/JAKKS PACIFIC LLC

                                            By: /s/ FRED GYSI
                                               ---------------------------------
                                                  Fred Gysi
                                                  Authorized Signatory<PAGE>   1

                                                                    Exhibit 10.1

                     AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT

     This Amendment No. 2 to Employment Agreement (this "Amendment") is made and
entered into as of September 1, 2000, by and between Werner Co., a Pennsylvania
corporation (the "Company"), successor by merger to Werner Management Co.
("WMC") and Eric J. Werner ("Executive").

     WHEREAS, the Company and Executive desire to enter into this Amendment to
amend certain terms of the Employment Agreement (the "Agreement").

     NOW THEREFORE, the Company and Executive agree as follows:

     1. AMENDMENT TO PERFORMANCE BASED COMPENSATION.

     Section 3.2 of the Agreement shall be amended by deleting the first
paragraph and chart and replacing with the following:

     In addition to the Base Salary provided for in Section 3.1 hereof,
     commencing for the fiscal year 2000, Executive shall be eligible to receive
     an annual cash bonus (prorated based on service) earned during the calendar
     year in an amount equal to 60% of the Base Salary in effect at the end of
     such calendar year based upon the extent to which Werner Holding Co. (PA),
     Inc.'s ("Holdings") consolidated Earnings Before Interest, Taxes,
     Depreciation and Amortization ("EBITDA"), as defined in EXHIBIT 1 hereto,
     equals or exceeds the percentages of target annual EBITDA with respect to
     such fiscal year in accordance with the attached Exhibit 3.

     2. TERM OF EMPLOYMENT

     The term of this Agreement shall be extended three (3) years from the
original expiration date determined by Section 2(b) of the Agreement to November
23, 2003 and

                                       1

<PAGE>   2

shall be automatically renewed for successive one (1) year periods thereafter
unless either party gives notice otherwise within 12 months, but not less than 6
months prior to an expiration.

     3. AMENDMENT TO TERMINATION OF EMPLOYMENT.

     Section 6.3 of the Agreement shall be amended by deleting (1) of the
definition of "Good Reason" such that the sentence shall now read as follows:

     For purposes of this Agreement, "Good Reason" shall mean (1) a reduction by
     the Company in the Executive's bonus opportunities or, except as
     specifically provided herein, base salary as in effect on the Effective
     Date or as the same may be increased from time to time; (2) unless the
     members of the Board appointed pursuant to Section 4(iii) of the
     Shareholder Agreement dated as of the date hereof agree to such reduction
     or other action, any material reduction in the level of benefits (including
     participation in any bonus plan) to which the Executive is entitled under
     one or more employee benefit plans on the Effective Date, or the taking of
     any action by the Company which would adversely affect the Executive's
     accrued benefits under any such employee benefit plans or deprive the
     Executive of any material fringe benefit enjoyed by the Executive on the
     Effective Date; (3) a demand by the Company to the Executive to relocate to
     any place that exceeds a fifty (50) mile radius beyond the location at
     which the Executive performed the Executive's duties on the Effective Date;
     or (4) any material breach by the Company of any provision of this
     Agreement.

                                        2

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     4. REMAINING PROVISIONS.

     All provisions of the Agreement not otherwise amended by this Amendment
shall remain in full force and effect.

     IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and
year first above written.

                                        WERNER CO., a Pennsylvania Corporation

                                        By:
                                            ------------------------------------
                                            Name:  Dennis G. Heiner
                                            Title: President and CEO

                                        EXECUTIVE

                                        ----------------------------------------
                                        Eric J. Werner

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