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

 

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        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.