Schedule of Compensation for Named Executive Officers of Circuit City Stores, Inc.
This document lists the annual base salaries and target bonus percentages for the named executive officers of Circuit City Stores, Inc. for the relevant fiscal year. It includes details for five executives, specifying their job titles, salaries, and bonus targets. The bonuses are tied to the company's earnings per share performance, as set by the Compensation and Personnel Committee. One executive, Michael E. Foss, is noted as resigning and will serve as principal financial officer under a consulting agreement until the filing of the annual report.
Exhibit 10.36
Schedule of Compensation for Named Executive Officers
| Name | Job Title | Annual | Target Bonus % of Base Salary | ||||
| Philip J. Schoonover | Chairman, President and Chief Executive Officer | $900,000 | 100 | % | |||
| Michael E. Foss* | Executive Vice President and Chief Financial Officer | $575,000 | 80 | % | |||
| George D. Clark, Jr. | Executive Vice President, Multi-Channel Sales | $525,000 | 80 | % | |||
| Reginald D. Hedgebeth | Senior Vice President, General Counsel and Secretary | $375,000 | 60 | % | |||
| Eric A. Jonas, Jr. | Senior Vice President, Human Resources | $391,900 | 60 | % |
| * | Mr. Foss will be resigning from the company in April 2007 and from the board of directors in June 2007 to become an executive officer of Petco Animal Supplies, Inc. Mr. Foss will serve as principal financial officer pursuant to a consulting agreement through the date of the filing of this Annual Report on Form 10-K. |
For fiscal year 2008, the Compensation and Personnel Committee of the Company’s Board of Directors has established specified earnings per share levels as the performance goal under the Circuit City Stores, Inc. 2003 Annual Performance-Based Bonus Plan. Bonuses are payable based on the Company’s achievement of the performance goal and may be higher or lower than the target bonus level.
