Document:

Exhibit 10.1

       [Form of Award Letter for Performance Accelerated Restricted Stock]

                                                                __________, 20__

[Insert name and address]

Dear :

         This  letter is to notify  you that,  effective  _________,  20__,  the
Compensation and Personnel Committee (the "Committee") of the Board of Directors
awarded you a Restricted Stock Award with Performance-Based  Accelerated Vesting
under the 2003 Stock Incentive Plan, as amended and restated (the "Plan").

         These shares are part of a Long-Term  Incentive Program that will cover
fiscal year 2006  through  fiscal year 2010.  This award is designed to motivate
performance  by providing for  accelerated  vesting of shares based on specified
operating margin targets. Your award is for the following number of shares:

         No. Shares Performance Accelerated Restricted Stock:

         Grant Date:                ___________

         Final Vesting Date:        ___________

         There is a provision for accelerated vesting. At the end of each fiscal
year,  Circuit  City's  Operating  Profit  Margin will be compared to the levels
specified in the chart listed below.  Accelerated vesting of a percentage of the
shares  awarded to you will occur if Circuit City  achieves an Operating  Profit
Margin at the levels  specified in the table below,  which are  cumulative.  The
Operating Profit Margin  performance will be measured as of each fiscal year end
for fiscal years 2006, 2007, 2008 and 2009;  accelerated  vesting,  if achieved,
will occur on July 1st following the end of the fiscal year.

================================================================================
                Circuit City's
            Operating Profit Margin                     Vested % of Grant
================================================================================
                     2.3 %                                    25%
                     3.25%                                    50%
                     4.0 %                                    75%
                     4.5 %                                   100%

         "Operating  Profit  Margin" means earnings from  continuing  operations
before income taxes as a percentage of net sales and operating revenues, as each
is reflected in the audited  consolidated  financial  statements of Circuit City
Stores,  Inc.  included  in its  Annual  Report  on Form  10-K,  for the  period
beginning March 1, 2005.

         After you sign and return  this  letter,  your  shares  will be held in
escrow for you by the Restricted  Stock Custodian named below. You may not sell,
give away,  pledge or  otherwise  transfer any of your  Restricted  Stock before
vesting occurs.  However, you will have all of the other rights of a shareholder
during the  period  until the  vesting  date,  including  the rights to vote and
receive dividends.

         On July 1, 2009, or, if later, the fourth  anniversary date of the date
of this grant,  all shares (if not vested  sooner) will be released  from escrow
and the stock will become freely tradable,  subject to applicable securities law
restrictions,  provided  you are still  employed  by the  Company on a full-time
basis.

         If your employment with the Company terminates before the final vesting
date  because  you die or  become  disabled,  any  restrictions  on  outstanding
Restricted Stock as set forth in this award agreement shall lapse and the shares
will vest as of the date of your death or disability.

         If your employment with the Company terminates before the final vesting
date for  reasons  other  than  your  death or  disability,  if you  change to a
part-time  status or if you retire from the Company,  your Restricted Stock will
be forfeited as of your  separation  date,  retirement  date or change in status
date, whichever is applicable.

         On the  final  vesting  date,  if you  are one of the  Named  Executive
Officers  of the  Company  in the Proxy  Statement  for the most  recent  fiscal
year-end (as defined by the SEC proxy rules then in effect),  then the following
performance condition will apply to any shares under the award which are not yet
vested:  the Company's closing stock price on the final vesting date as reported
by the exchange on which the Common  Stock  generally  has the greatest  trading
volume must equal or exceed $23 per share (adjusted for stock  dividends,  stock
splits,  combinations of shares or other recapitalizations  having like effects)
for a minimum of five consecutive trading days. If this performance condition is
not met,  then the  award  will not  vest  and  will  remain  restricted  for an
additional  period of three  years,  during  which  the  award  will vest if the
Company's  closing  stock price as reported by the  exchange on which the Common
Stock generally has the greatest  trading volume equals or exceeds $23 per share
(adjusted for stock  dividends,  stock splits,  combinations  of shares or other
recapitalizations having like effects) for a minimum of five consecutive trading
days.  If this  performance  condition  is not met within  three years after the
final vesting date, then the shares subject to this performance measure shall be
forfeited.

         By  accepting  this  award,  you  agree  that if (i)  you are a  senior
executive  officer subject to the Company's  stock  ownership  guidelines at the
time all or a portion of these  shares  vest and (ii) you have not yet  achieved
the ownership  levels for your then current  position,  then upon vesting of any
shares awarded under this agreement you will retain at least fifty percent (50%)
of the shares remaining after satisfaction of the applicable tax liability.

         Other details about your award are:

         1. Restricted Stock Custodian.  The Restricted Stock Custodian is Wells
Fargo  Shareowners  Services.  If you  need  to  contact  the  Restricted  Stock
Custodian at any time while your shares are in escrow,  you may do so by writing
to the  Restricted  Stock  Custodian at the following  address.  The Company may
change the Restricted  Stock Custodian before your vesting date. If so, you will
be informed of the new Restricted  Stock Custodian and its address.

                        Wells Fargo Shareowners Services
                        Stock Transfer
                        171 North Concord Exchange South
                        St. Paul,MN 55075-1139

         2.  Rights as a  Shareholder.  While your  shares are being held by the
Restricted Stock Custodian,  you will have voting and dividend rights.  However,
you will receive your  dividends  through the  Restricted  Stock  Custodian  and
deliver your voting instructions to the Restricted Stock Custodian who will vote
the shares for you. If the  Restricted  Stock  Custodian  does not receive  your
voting  instructions  at least three days before a shareholders'  meeting,  your
shares will not be voted.

         3.  Change of Control.  If you are a full-time  employee on a Change of
Control of the Company,  notwithstanding  any provision  hereof to the contrary,
any  restrictions  on  outstanding  Restricted  Stock as set forth in this award
agreement shall lapse.

         4. Withholding Taxes. On the vesting date, you will have taxable income
equal to the then current market value of the shares.  The Company has the right
to withhold from any shares the number of shares having an aggregate Fair Market
Value equal to the amount of taxes required to be withheld or paid.

         5. Miscellaneous.

         a. This grant of Restricted  Stock is not transferable by you except by
will or by the laws of descent and distribution.

         b.  The  terms  of this  agreement  shall  be  governed  by the laws of
Virginia, without regard to the conflict of law provisions of any jurisdiction.

         c. The  Restricted  Stock Award is granted  pursuant  to the Plan.  The
terms of the Plan are  incorporated  into  this  agreement  and in the case of a
conflict  between  the Plan  and this  agreement,  the  terms of the Plan  shall
control.  Unless otherwise  defined herein,  capitalized  terms have the meaning
given to them in the Plan.

         d.  As  described  in the  Plan,  in the  event  of  certain  corporate
transactions  or other  actions or events,  the  Committee may take such actions
with respect to the Award as it deems appropriate and consistent with the Plan.

         e.  This  award  letter is the  entire  agreement  between  you and the
Company  concerning  the shares of  restricted  stock  awarded  pursuant to this
letter.  If you are a party to an  Employment  Agreement  with the Company,  you
agree that in the case of a conflict  between the Employment  Agreement and this
award letter, the terms of this award letter shall control.

         6.  Acceptance  of this  Award.  In  order  for your  award  to  become
effective, you must accept it by signing and returning the enclosed copy of this
letter as soon as possible but in no event later than ______, 20__ to

                            [insert name and address]

         Your  signature  will also  constitute  your agreement to the terms and
conditions contained in this letter.

         The following documents contain additional  detailed  information about
the  Company  and the  Company's  2003 Stock  Incentive  Plan  under  which your
Restricted  Stock  award  was  made.  A copy of the  Prospectus  for the Plan is
attached to this award agreement.  If you have not previously been provided with
them, a copy of the Plan, a copy of the 20__ Annual Report to Shareholders,  and
10-K for Fiscal  20__ may be  requested  from  ________________.  General  terms
concerning Restricted Stock awards, which are contained in the Plan, but are not
repeated in this letter, will also be considered a part of this letter

                                                     Sincerely,

                                                     Senior Vice President
                                                     Human Resources

ACCEPTED:

----------------------
Associate Signature

----------------------
Printed Name

---------------
DateExhibit 10.2

             [Form of Award Letter for Time-Based Restricted Stock]

                                                                  ________, 20__

[Insert name and address]

Dear :

         This  letter is to notify  you that,  effective  _________,  20__,  the
Compensation and Personnel Committee (the "Committee") of the Board of Directors
awarded you a Restricted  Stock Award with under the 2003 Stock  Incentive Plan,
as amended and restated (the "Plan"). The purpose of this discretionary award is
to reward, motivate and retain key management personnel. Your award reflects the
belief  of  the  Committee  and  the  Board  of  Directors  that  you  are a key
contributor  to  Circuit  City's  success.   Subject  to  the  requirements  and
limitations set forth in this letter,  your award is for the following number of
shares and vests on the following dates:

         No. of Shares of Restricted Stock Granted: ______

         Grant Date: ______________

         On ________, 2009, 100% of the total shares granted shall vest.

         This award is not contingent upon either corporate  performance or your
own.  However,  the value of your award rises directly and fully with the market
price of our stock. The better we all perform, the more the stock will likely be
worth.

         The concept of  Restricted  Stock is simple.  After you sign and return
this letter,  your shares will be held in escrow for you by the Restricted Stock
Custodian  named  below  until the vesting  date.  You may not sell,  give away,
pledge or  otherwise  transfer any of your  Restricted  Stock before the vesting
date. However, you will have all of the other rights of a shareholder during the
period  until  the  vesting  date,  including  the  right  to vote  and  receive
dividends.

         If you are still employed on a full-time active basis by the Company on
the vesting date, your shares will be released from escrow and the stock will be
freely tradable, subject to applicable securities law restrictions.

         If your employment with the Company  terminates before the vesting date
because you die or become disabled,  any restrictions on outstanding  Restricted
Stock as set forth in this award  agreement shall lapse and the shares will vest
as of the date of your death or disability.

         If your employment with the Company  terminates before the vesting date
for reasons  other than your death or  disability,  if you change to a part-time
status  or if you  retire  from  the  Company,  your  Restricted  Stock  will be
forfeited  as of your  termination  date,  retirement  or change in status date,
whichever is applicable.

         On the  final  vesting  date,  if you  are one of the  Named  Executive
Officers  of the  Company  in the Proxy  Statement  for the most  recent  fiscal
year-end (as defined by the SEC proxy rules then in effect),  then the following
performance condition will apply to any shares under the award which are not yet
vested:  the Company's closing stock price on the final vesting date as reported
by the exchange on which the Common  Stock  generally  has the greatest  trading
volume must equal or exceed $23 per share (adjusted for stock  dividends,  stock
splits,  combinations of shares or other recapitalizations  having like effects)
for a minimum of five consecutive trading days. If this performance condition is
not met,  then the  award  will not  vest  and  will  remain  restricted  for an
additional  period of three  years,  during  which  the  award  will vest if the
Company's  closing  stock price as reported by the  exchange on which the Common
Stock generally has the greatest  trading volume equals or exceeds $23 per share
(adjusted for stock  dividends,  stock splits,  combinations  of shares or other
recapitalizations having like effects) for a minimum of five consecutive trading
days.  If this  performance  condition  is not met within  three years after the
final vesting date, then the shares subject to this performance measure shall be
forfeited.

         By  accepting  this  award,  you  agree  that if (i)  you are a  senior
executive  officer subject to the Company's  stock  ownership  guidelines at the
time all or a portion of these  shares  vest and (ii) you have not yet  achieved
the ownership  levels for your then current  position,  then upon vesting of any
shares awarded under this agreement you will retain at least fifty percent (50%)
of the shares remaining after satisfaction of the applicable tax liability.

         Other details about your award are:

         1. Restricted Stock Custodian.  The Restricted Stock Custodian is Wells
Fargo  Shareowners  Services.  If you  need  to  contact  the  Restricted  Stock
Custodian at any time while your shares are in escrow,  you may do so by writing
to the  Restricted  Stock  Custodian at the following  address.  The Company may
change the Restricted  Stock Custodian before your vesting date. If so, you will
be informed of the new Restricted Stock Custodian and its address.

                           Wells Fargo Shareowners Services
                           Stock Transfer
                           161 North Concord Exchange
                           South St. Paul, MN  55075-1139

         2.  Rights as a  Shareholder.  While your  shares are being held by the
Restricted Stock Custodian,  you will have voting and dividend rights.  However,
you will receive your  dividends  through the  Restricted  Stock  Custodian  and
deliver your voting instructions to the Restricted Stock Custodian who will vote
the shares for you. If the  Restricted  Stock  Custodian  does not receive  your
voting  instructions  at least three days before a shareholders'  meeting,  your
shares will not be voted.

         3.  Change of Control.  If you are a full-time  employee on a Change of
Control of the Company,  notwithstanding  any provision  hereof to the contrary,
any  restrictions  on  outstanding  Restricted  Stock as set forth in this award
agreement shall lapse.

         4. Withholding Taxes. On the vesting date, you will have taxable income
equal to the then current market value of the shares.  The Company has the right
to withhold the number of shares having an aggregate  Fair Market Value equal to
the amount of taxes required to be withheld or paid.

         5. Miscellaneous.

         a. This grant of Restricted  Stock is not transferable by you except by
will or by the laws of descent and distribution.

         b.  The  terms  of this  agreement  shall  be  governed  by the laws of
Virginia, without regard to the conflict of law provisions of any jurisdiction.

         c. The  Restricted  Stock Award is granted  pursuant  to the Plan.  The
terms of the Plan are  incorporated  into  this  agreement  and in the case of a
conflict  between  the Plan  and this  agreement,  the  terms of the Plan  shall
control.  Unless  otherwise  defined  herein,  all  capitalized  terms  have the
meanings given to them in the Plan.

         d.  As  described  in the  Plan,  in the  event  of  certain  corporate
transactions  or other  actions or events,  the  Committee may take such actions
with respect to the Award as it deems appropriate and consistent with the Plan.

         e.  This  award  letter is the  entire  agreement  between  you and the
Company  concerning  the shares of  restricted  stock  awarded  pursuant to this
letter.  If you are a party to an  Employment  Agreement  with the Company,  you
agree that in the case of a conflict  between the Employment  Agreement and this
award letter, the terms of this award letter shall control.

         6.  Acceptance  of this  Award.  In  order  for your  award  to  become
effective, you must accept it by signing and returning the enclosed copy of this
letter as soon as possible but in no event later than __________, 20__ to:

                            [insert name and address]

         Your  signature  will also  constitute  your agreement to the terms and
conditions contained in this letter.

         The following documents contain additional  detailed  information about
the  Company  and the  Company's  2003 Stock  Incentive  Plan  under  which your
Restricted  Stock  award  was  made.  A copy of the  Prospectus  for the Plan is
attached to this award agreement.  If you have not previously been provided with
them, a copy of the Plan, a copy of the 20__ Annual Report to Shareholders,  and
10-K for Fiscal  20__ may be  requested  from  ________________.  General  terms
concerning Restricted Stock awards, which are contained in the Plan, but are not
repeated in this letter, will also be considered a part of this letter.

                                                     Sincerely,

                                                     Senior Vice President
                                                     Human Resources

ACCEPTED:

Associate Signature

Printed Name

Date

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00086-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00086-of-00352.parquet"}]]