Schedule of Compensation for Named Executive Officers of Circuit City Stores, Inc.
This document lists the annual base salaries and target bonus percentages for key executives of Circuit City Stores, Inc. for fiscal year 2006. It includes compensation details for the Chairman and CEO, President, and other top officers. Bonuses are determined by the company's achievement of specified earnings per share goals, as set by the Compensation and Personnel Committee. Actual bonuses may vary from the target amounts. One executive, John W. Froman, is noted as having resigned effective March 1, 2005.
Exhibit 10.31
Schedule of Compensation for Named Executive Officers
| Name | Job Title | Annual Base Salary | Target Bonus% of Base Salary | |||||
| W. Alan McCollough | Chairman and Chief Executive Officer | $ | 975,000 | 100 | % | |||
| Philip J. Schoonover | President | $ | 700,000 | 80 | % | |||
| John W. Froman* | Former Executive Vice President and Chief Operating Officer | $ | 650,000 | N/A | ||||
| Brian E. Levy | President & Chief Executive Officer, InterTAN; Chairman, Circuit City Global Sourcing | $ | 552,000 | 66 | % | |||
| Michael E. Foss | Executive Vice President and Chief Financial Officer | $ | 525,000 | 80 | % | |||
| * | Mr. Froman resigned as Executive Vice President and Chief Operating Officer effective March 1, 2005. |
For fiscal year 2006, 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.
