Exhibit 10.1

FORM OF KIRKLAND’S, INC.
STOCK OPTION CANCELLATION AGREEMENT

This STOCK OPTION CANCELLATION AGREEMENT (the “Agreement”) is by and between
Kirkland’s, Inc., a Tennessee corporation (the “Company”), and ____________
(the “Employee”).

WHEREAS, the Employee believes that it is in the best interest of the Company
and its shareholders to voluntarily cancel existing Company stock options held
by Employee set forth on Exhibit A (the “Cancelled Options”) that have
relatively low incentive or retention value at this time so that additional
shares become available for grant under the Company’s Amended and Restated 2002
Equity Incentive Plan (the “2002 Plan”) which the Company may use for future
equity grants to Company personnel in order to recruit, retain and motivate such
personnel; and

WHEREAS, the Company is relying upon the Employee’s surrender and cancellation
of the Cancelled Options in making determinations about the future grant of
equity awards pursuant to the 2002 Plan and otherwise in regard to the
administration of the 2002 Plan;

NOW, THEREFORE, the parties hereby agree as follows:

Section 1.    Cancellation of Options. The Employee hereby surrenders the
Cancelled Options for cancellation, and the Company hereby accepts such
surrender and cancellation. By execution of this Agreement, the parties have
taken all steps necessary to cancel the Cancelled Options.

Section 2.    No Expectation or Obligation. The Company and Employee acknowledge
and agree that the surrender and cancellation of the Cancelled Options described
herein shall be without any expectation of the Employee to receive, and without
imposing any obligation on the Company to pay or grant, any cash, equity awards
or other consideration presently or in the future in regard to the cancellation
of the Cancelled Options.
    
Section 3.    Miscellaneous. This Agreement contains all of the understandings
between the Company and Employee concerning the cancellation of the options. The
Company and Employee have made no promises, agreements, conditions, or
understandings relating to this subject matter, either orally or in writing,
that are not included in this Agreement. This Agreement may be executed in
counterparts, each of which when signed by the Company and the Employee will be
deemed an original and all of which together will be deemed the same agreement.
This Agreement shall be governed and construed exclusively in accordance with
the law of the State of Tennessee applicable to agreements to be performed in
the State of Tennessee to the extent it may apply.

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[signature page of Stock Option Cancellation Agreement]

The Company and the Employee have caused this Agreement to be signed and
delivered as of the 29th day of January, 2020.

KIRKLAND’S, INC.

__________________________
By:    _______________________________

Name of Employee
Title:    _______________________________    

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Exhibit A

Description of Cancelled Options

[Table]

TOTAL OPTIONS CANCELLED - ____________