Waiver of 2005 Stock Option Grant under Retention Agreement between Toys "R" Us, Inc. and John H. Eyler, Jr.
This agreement is between Toys "R" Us, Inc. and John H. Eyler, Jr. It states that Mr. Eyler waives his right to receive a stock option grant for 2005, as required by his retention agreement, due to the company's pending sale. The waiver applies only to the 2005 grant and does not affect his rights for stock option grants in other years.
Exhibit 10.1
| TO: | COMPENSATION AND ORGANIZATIONAL DEVELOPMENT COMMITTEE (“COMMITTEE”) OF THE BOARD OF DIRECTORS OF TOYS “R” US, INC. | |
| FROM: | JOHN H. EYLER | |
| DATE: | MARCH 29, 2005 | |
| SUBJECT: | STOCK OPTION GRANTS |
Reference is made to Section 2 (b)(vi) of the Retention Agreement (the “Agreement”) between Toys “R” Us, Inc. (the “Company”) and John H. Eyler, Jr. (“Executive”), dated January 6, 2000, pursuant to which the Company is required to grant to Executive, as of April 1 each year, stock options to acquire not less than 300,000 shares of common stock of the Company (the “Grant”).
In light of the pending sale of the Company, the Executive hereby expressly waives his rights to the Grant to be made as of April 1, 2005. This letter agreement shall not be deemed to constitute a waiver for any Grant to be made in any other year.
Agreed to as of the day and year first written above.
| /s/ John H, Eyler, Jr.____ | |
| John H. Eyler, Jr. | |
