exhibit1054.htm


    Exhibit
10.54  


    

    300 RadioShack
Circle

    Mail Stop
#CF5-119

    Fort Worth,
Texas  76102-1964

    Office
817-415-3020

    Fax
817-415-2490

     

    August 13,
2008

     

                       Via
Email to leeapplbaum@hotmail.com

    Mr. Lee D.
Applbaum

    36
Ashbourne Road

    Bexley, Ohio
43209

     

    Dear Mr.
Applbaum:

     

    It
is our pleasure to extend a contingent offer of employment to you to join the
RadioShack team as    Executive Vice President – Chief
Marketing Officer reporting to Julian Day, Chairman and Chief Executive
Officer.  This offer is contingent upon the satisfactory completion of
a background investigation which includes criminal and reference check
information.  The specifics of this employment offer are set forth
below.  The Company reserves the right to modify these compensation
and benefit plans at anytime without legal consideration or notice.

     

    
      	
              Base
      Salary

            	
              $15,384.61
      bi-weekly ($400,000 annualized)

            


    

     

    
      	
              Target
      Bonus

            	
              Your target
      bonus opportunity will be 75% of base salary and will be based on company
      performance metrics.  This bonus opportunity will be prorated
      for 2008.  We agree to guarantee your 2008 bonus, payable in
      2009, at a minimum of $75,000.

            


    

     

    
      	
              Sign-on

            	
              You will
      receive 25,000 stock options after joining RadioShack.  This
      grant is subject to the approval of the Board of Directors at their next
      scheduled meeting.

            


    

     

    
      	
              Long
      Term Incentive

            	
              You will
      participate in the following long-term incentive
  plans:

            


    

     

    
      	
               
      

            	
              2008 Long
      Term Incentive Plan 2 Year Plan

            


    

    
      	
               
      

            	
              This plan is
      for the fiscal (calendar) years 2008 and 2009, payable in
      2010.  The target amount for this plan is $280,000 which will be
      prorated.

            


    

     

    2008 Long Term
Incentive Plan 3 Year Plan

    This plan is for
the fiscal (calendar) years 2008, 2009 and 2010, payable in 2011.  The
target for this plan is $280,000 which will be prorated.

     

    
      	
              Equity

            	
              You will be
      eligible for annual grants of restricted stock and stock options
      commensurate with your position.  These grants are normally made
      during the first quarter of the calendar
year.

            


    

     

     

    
      	
              Vacation

            	
              You will be
      eligible for vacation benefits as
follows:

            


    

     

    3
weeks upon hire, prorated to the end of the calendar year

    3
weeks on each successive January 1 through 10 years of

       continuous
employment

    4
weeks on each successive January 1 following 10 years of

       continuous
employment

    5
weeks on each successive January 1 following 20 years of

       continuous
employment


    
      
         


      

      
         


        
          

        

      

      
         


      

    

     

     

    Mr. Lee D.
Applbaum

    August 13,
2008

    Page 2

     

     

    
      	
              Relocation

            	
              The Company
      will provide you with relocation assistance as detailed in the attached
      relocation policy

            


    

     

    
      	
              Health
      & Welfare Plans

            	
              You will be
      eligible for the basic group medical, dental, vision, life, AD&D,
      disability, and flexible reimbursement plans 3 months following your first
      day of employment.  In addition, you may cover your lawful
      spouse, same or opposite sex domestic partner, and eligible
      children.  You will receive enrollment information shortly after
      you have reported for work.  You will be reimbursed for COBRA
      payments made during your eligibility
period.

            


    

     

    
      	
              401
      (k) Plan

            	
              This plan is
      a qualified retirement plan with various investment options, which allows
      participants to make a pre-tax contribution and receive a matching
      contribution from the company of $1 for $1 up to a 4% contribution level
      that vests immediately.  If you are 18 years of age or older and
      a non-temporary employee, you are eligible to enroll and participate in
      the Plan as soon as your first anniversary.  A complete set of
      enrollment materials will be provided closer to your eligibility
      date

            


    

     

    
      	
              Stock
      Ownership

            	
              Our
      shareholders and the investment community often analyze and measure the
      commitment of management to the company through share
      ownership.  With this in mind, our Board of Directors adopted an
      ownership policy for all officers.  At your level you will be
      required to own RadioShack Corporation common stock having a value equal
      to one and one-half times your base salary.  A review to
      determine compliance with this policy will occur as of each December
      31.  You are not expected to reach this level
      immediately.

            


    

     

    Other benefits for
which you will be eligible include:

    
      	
              ■  

            	
              Officers’
      Severance Program

            


    

    
      	
              ■  

            	
              Executive
      Life

            


    

    
      	
              ■  

            	
              Executive
      LTD

            


    

     

    More detailed
information about each of these benefits will be covered during your new
employee executive orientation.

     

    This is a very
exciting time to join RadioShack Corporation.  It is my hope that
after accepting this contingent employment offer, you will be available to
report for work no later than October 1, 2008.

     

    Please sign, date
and return this letter to me at your earliest convenience via facsimile to
817-415-2490.  Meanwhile, if you have any questions, do not hesitate
to call me at 817-415-3020.

     

    Welcome to
RadioShack Corporation!

     

    Sincerely,

    
    

     

    
      	 /s/ Jana Freundlich	 
	 	 
	 Jana Freundlich	 
	 Vice
      President – Human Resources	 
	 	 
	 Accepted:	 
	 /s/  Lee
      D. Applbaum	 8/15/08
	 Lee D.
      Applbaum                                                      	Date