Document:

Exhibit 10.1

Exhibit 10.1

EMPLOYMENT AGREEMENT 

RONALD D. BOIRE

This EMPLOYMENT AGREEMENT (the "Agreement") is dated as of June 28,
2006 (the "Execution Date") by and between Toys "R" Us, Inc.
(the "Company"), a subsidiary of Toys "R" Us Holdings, Inc.
("Holdings"), and Ronald D. Boire (the "Executive").

WHEREAS, as of the Execution Date, the Company desires to employ
Executive and to enter into an agreement embodying the terms of such employment
and Executive desires to accept such employment and enter into such an
agreement.

NOW, THEREFORE, in consideration of the premises and mutual covenants
herein and for other good and valuable consideration, the parties agree as
follows:

1. Term of Employment. Subject to the provisions of Section 7 of this
Agreement, Executive shall be employed by the Company and, as described below,
designated subsidiaries of the Company, for a period commencing on or about July
17, 2006 (the "Hire Date") and ending on the fifth anniversary of the
Hire Date (the "Initial Term"), on the terms and subject to the
conditions set forth in this Agreement. Following the Initial Term, the term of
Executive's employment hereunder shall automatically be renewed on the terms and
conditions hereunder for additional one year periods commencing on each
anniversary of the last day of the Initial Term (the Initial Term and any annual
extensions of the term of this Agreement, subject to the provisions of Section 7
hereof, together, the "Employment Term"), unless either party gives
written notice of non-renewal at least 60 days prior to such anniversary.

2. Position.

a. During the Employment Term, Executive shall serve as Executive Vice
President - President - Toys "R" Us U.S. of the Company, Toys
"R" Us - Delaware, Inc. and any other subsidiaries of the Company that
the board of directors of the Company (the "Board") designates (such
entities collectively referred to as the "TRU Group") or in such other
capacities as the Company may determine from time to time. In such position as
the Executive Vice President - President - Toys "R" Us U.S., Executive
shall have such duties and authority as determined by the Board and the board of
directors of each subsidiary of the Company, as applicable (each, a
"Subsidiary Board")). During the Employment Term, the Executive shall
report to the Chief Executive Officer of the Company ("CEO") and of
each Subsidiary, as applicable or such other persons as the Company may
determine from time to time.

b. During the Employment Term, Executive will devote Executive's full
business time and reasonable best efforts to the performance of Executive's
duties hereunder and will not engage in any other business, profession or
occupation for compensation or otherwise which would conflict or interfere in
any material respect with the rendition of such services either directly or
indirectly, without the prior written consent of the CEO; provided that nothing
herein shall preclude Executive from continuing to serve on any board of
directors or trustees, advisory board or government commission which is listed
on Exhibit A attached hereto, or, subject to the prior approval of the CEO, from
accepting appointment to serve on any board of directors or trustees of any
business corporation or any charitable organization; provided in each case in
the aggregate, that such activities do not conflict or interfere with the
performance of Executive's duties hereunder or conflict with Section 8.

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3. Base Salary. During the Employment Term, the Company shall pay
Executive a base salary at the annual rate of $750,000, payable in substantially
equal periodic payments in accordance with the Company's practices for other
executive employees, as such practices may be determined from time to time.
Executive shall be entitled to such increases in Executive's base salary, if
any, as may be determined from time to time in the sole discretion of the Board
or any appropriate committee or delegee thereof, which shall at least annually
review Executive's rate of base salary to determine if any such increase shall
be made. Executive's annual base salary, as in effect from time to time
hereunder, is hereinafter referred to as the "Base Salary."
4. Annual Bonus. During the Employment Term, Executive shall be
eligible to earn an annual bonus award in respect of each fiscal year of the
Company (an "Annual Bonus"), in a target amount of up to 130% of
Executive's Base Salary (the "Target Bonus"), payable upon the
Company's achievement of certain performance targets established by the Board or
any appropriate committee or delegee thereof and pursuant to the terms of the
Company's incentive plan, as in effect from time to time. Notwithstanding the
foregoing, in the event the Company's performance exceeds such performance
targets, Executive shall be eligible to earn an Annual Bonus in an amount in
excess of the Target Bonus, as determined by the Board or any appropriate
committee or delegee thereof in accordance with the Company's incentive plan, as
in effect from time to time. Executive shall be eligible to earn an Annual Bonus
for the Company's 2006 fiscal year in accordance with the foregoing without any
pro-rata reduction relating to the portion of the 2006 fiscal year occurring
prior to the Hire Date.

5. Employee Benefits; Perquisites; Business; Relocation Expenses and
Sign-On Bonus.

a. Employee Benefits. During the Employment Term, Executive and his spouse
and dependents, as applicable, shall be entitled to participate in the Company's
welfare benefit plans and retirement plans, including, without limitation, the
Company's 401(k) and supplemental executive retirement plans and medical, dental
and life insurance plans (which currently provide up to $1,000,000 in life
insurance coverage and permit Executive to purchase an additional $1,500,000 in
life insurance coverage), as in effect from time to time (collectively, the
"Employee Benefits"), on the same basis as those benefits are or may
be made available to the other senior executives of the Company (other than
benefits which have been terminated or for which participation has been frozen
as of the Hire Date). The Company shall be permitted to modify all such benefits
from time to time consistent with any modifications that impact other senior
executives of the Company.

b. Perquisites. During the Employment Term, Executive shall be entitled to
receive such perquisites as are made available to other senior executives of the
Company in accordance with the Company's policies, as in effect from time to
time. Executive shall be entitled to not less than four (4) weeks of paid
vacation per year, which vacation shall be taken at such times as are reasonably
acceptable to the Company in light of the Company's operations, Executive's
performance of his duties, and in accordance with the terms of the Company's
vacation policy, as in effect from time to time, applicable to Executive.

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c. Business Expenses. During the Employment Term, reasonable business
expenses incurred by Executive in the performance of Executive's duties
hereunder shall be reimbursed by the Company in accordance with the Company's
policies, as in effect from time to time, applicable to senior executive
officers of the Company.

d. Relocation Expenses. The Company shall reimburse Executive for relocation
costs he reasonably incurs in connection with relocating his family to the area
in proximity of Wayne, New Jersey (including the relocation Executive commenced
prior to the Execution Date hereof), to the extent consistent with the Company's
current relocation policies or as mutually agreed upon by Executive and the
Company.

e. Sign-On Bonus. Executive shall receive a one-time "sign-on"
bonus of $750,000 as soon as practicable following the Hire Date, but no later
than 30 days after the Hire Date. Should Executive's employment be terminated
pursuant to Section 7(a) hereof at any time on or before the second anniversary
of the Hire Date, Executive shall within fifteen (15) days of the date of
termination, reimburse the Company 100% of the sign-on bonus.

6. Equity. Within thirty (30) days after the Hire Date, Executive
shall be granted pursuant to the Toys "R" Us Holdings, Inc. 2005
Management Equity Plan (the "Equity Plan") restricted stock in
Holdings in the form of strips of securities containing nine (9) shares of Class
A Common Stock of Holdings and one (1) share of Class L Common Stock of Holdings
(collectively, a "Common Strip") with an aggregate fair market value
of $1,100,000 as of the grant date. For purposes of calculating the number of
Common Strips in such award, the value per Common Strip shall be equal to the
greater of (i) the sum of the aggregate fair market value of each class of
Common Stock of Holdings underlying the one Common Strip as of the Execution
Date hereof ($26.75) or (ii) the sum of the aggregate fair market value of each
class of Common Stock of Holdings underlying the one Common Strip as of the date
of grant (such greater amount, the "Determined Value"). Such
restricted stock award shall vest as to 50% of the Common Strips on the first
anniversary of the grant date and as to 50% of the Common Strips on the second
anniversary of the grant date, provided that Executive is still employed with
Holdings or any of its affiliates as of such respective dates. Additionally, on
the same date that the restricted stock award is granted, Holdings shall grant
to Executive pursuant to the Equity Plan options to acquire 337,812 Common
Strips for a purchase price (strike price) equal to the Determined Value.
Holdings and Executive shall enter into appropriate award agreements to evidence
the terms and conditions of such grants (the "Equity Documents").

7. Termination. The Employment Term and Executive's employment
hereunder may be terminated by either party at any time and for any reason;
provided that Executive will be required to give the Company at least 60 days'
advance written notice of any resignation of Executive's employment without Good
Reason (as defined in Section 7(c) below) (other than due to Executive's death
or Disability). Notwithstanding any other provision of this Agreement, the
provisions of this Section 7 shall exclusively govern Executive's rights upon
termination of employment with the TRU Group; provided, however, that nothing
contained in this Section 7

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shall alter Executive's or Holdings' rights with respect to the Equity
Documents, which shall continue to govern Executive's equity holdings following
any termination in accordance herewith.

a. By the Company For Cause or By Executive Without Good Reason.

(i) The Employment Term and Executive's employment hereunder may be
terminated by the Company for Cause (as defined below) and shall terminate
automatically upon Executive's resignation without Good Reason (other than due
to Executive's death or Disability); provided that Executive will be required to
give the Company at least 60 days' advance written notice of such resignation.

(ii) For purposes of this Agreement, "Cause" shall mean any of the
following, as determined by the CEO: (A) Executive's willful failure to perform
any material portion of his duties which continues beyond 10 days after a
written demand for substantial performance is delivered to Executive by the CEO,
which demand specifically identifies the manner in which the CEO believes that
Executive has not performed his material duties; (B) the commission of any
fraud, misappropriation or misconduct by Executive that causes demonstrable
injury, monetarily or otherwise, to the Company or an affiliate; (C) the
conviction of, or pleading guilty or nolo contendere to, a felony involving
moral turpitude; (D) an act resulting or intended to result, directly or
indirectly, in material gain or personal enrichment to the Executive at the
expense of the Company or an affiliate; (E) any material breach of Executive's
fiduciary duties to the Company or an affiliate as an employee or officer; (F) a
violation of the Company's Code of Ethical Standards, Business Practices and
Conduct or any other violation of a TRU Group policy; (G) the failure by the
Executive to comply, in any material respect, with the provisions of Sections 8
and 9 of this Agreement or any of the restrictive covenants imposed pursuant to
the Equity Documents; or (H) the failure by the Executive to comply with any
other material undertaking set forth in this Agreement or any other agreement
Executive has with the Company or any affiliate or any breach by Executive
hereof or thereof if such failure or breach is reasonably likely to result in a
material injury to the Company or an affiliate.

(iii) If Executive's employment is terminated by the Company for Cause, or if
Executive resigns without Good Reason, Executive shall be entitled to receive:

(A) a lump sum payment of the Base Salary that is earned by Executive but
unpaid as of the date of Executive's termination of employment, paid in
accordance with the Company's payroll practices, but in no event later than
thirty (30) days following Executive's termination of employment;

(B) reimbursement, within 30 days following submission by Executive to the
Company of appropriate supporting documentation, for any unreimbursed business
expenses properly incurred by Executive in accordance with the Company policy
referenced in Section 5(c) above prior to the date of Executive's termination;
provided claims for such reimbursement (accompanied by appropriate supporting
documentation) are submitted to the Company within

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ninety (90) days following the date of Executive's termination of employment;
and (C) such Employee Benefits, if any, as to which Executive may be entitled
under the employee benefit plans of the Company (the amounts described in
clauses (A) through (C) hereof being referred to as the "Accrued
Rights").

Following such termination of Executive's employment by the Company for Cause
or resignation by Executive without Good Reason, except as set forth in this
Section 7(a)(iii), Executive shall have no further rights to any compensation or
any other benefits under this Agreement.

b. Disability or Death.

(i) The Employment Term and Executive's employment hereunder shall terminate
upon Executive's death and may be terminated by the Company upon the Executive's
Disability. For purposes of this Agreement, "Disability" shall mean
the determination that the Executive is disabled pursuant to the terms of the
Company's long term disability plan.

(ii) Upon termination of Executive's employment hereunder for either
Disability or death, Executive or Executive's estate (as the case may be) shall
be entitled to receive:

(A) the Accrued Rights;

(B) a lump sum payment of any Annual Bonus that is earned by Executive but
unpaid as of the date of termination for the immediately preceding fiscal year,
paid in accordance with Section 4 (except to the extent payment is otherwise
deferred pursuant to any applicable deferred compensation arrangement with the
Company); and

(C) a pro rata portion of the Annual Bonus, if any, that Executive would have
been entitled to receive pursuant to Section 4 hereof for such year based upon
the Company's actual results for the year of termination and the percentage of
the fiscal year that shall have elapsed through the date of Executive's
termination of employment, payable to Executive pursuant to Section 4 had
Executive's employment not terminated.

Following Executive's termination of employment due to Executive's death or
Disability, except as set forth in this Section 7(b)(ii), Executive or his
estate, as applicable, shall have no further rights to any compensation or any
other benefits under this Agreement.

c. By the Company Without Cause or by Executive for Good Reason.

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(i) Executive's employment hereunder may be terminated (A) by the Company
without Cause (which shall not include Executive's termination of employment due
to his death or Disability) or (B) by Executive for Good Reason (as defined
below).

(ii) For purposes of this Agreement, "Good Reason" shall mean,
without the consent of the Executive and other than in connection with a
termination of the Executive's employment by the Company for Cause or due to
Executive's death or Disability, (A) the failure of the Company to pay any
undisputed amount due under this Agreement; or (B) a substantial reduction in
Executive's targeted compensation level (other than a general reduction in base
salary or annual incentive compensation opportunities that affects all members
of senior management of the Company proportionally). Notwithstanding the
foregoing, any termination by Executive for Good Reason may only occur if
Executive provides a Notice of Termination (as defined in Section 7(d)) for Good
Reason within 45 days after Executive learns (or reasonably should have learned)
about the occurrence of the event giving rise to the claim of Good Reason.
Notwithstanding the foregoing, resignation by Executive shall not be deemed for
"Good Reason" if the basis for such Good Reason is cured within a
reasonable period of time (determined in light of the cure appropriate to the
basis of such Good Reason), but in no event more than thirty (30) business days
after the Company receives the Notice of Termination specifying the basis of
such Good Reason. The Company's good faith determination of cure shall be
binding. The Company shall notify Executive of the timely cure of any claimed
event of Good Reason and the manner in which such cure was effected, and any
Notice of Termination delivered by Executive based on such claimed Good Reason
shall be deemed withdrawn and shall not be effective to terminate the Employment
Term.

(iii) If Executive's employment is terminated by the Company without Cause
(excluding by reason of Executive's death or Disability) or by Executive for
Good Reason, Executive shall be entitled to receive:

(A) the Accrued Rights;

(B) a lump sum payment of any Annual Bonus that is earned by Executive but
unpaid as of the date of termination for the immediately preceding fiscal year,
paid in accordance with Section 4 (except to the extent payment is otherwise
deferred pursuant to any applicable deferred compensation arrangement with the
Company);

(C) subject to Executive's continued compliance with the provisions of
Sections 8 and 9 and Executive's execution (and non-revocation) of a release of
all claims against the TRU Group in a form substantially similar to the
Separation and Release Agreement attached hereto as Exhibit B (the
"Release"), a pro rata portion of the Annual Bonus, if any, that
Executive would have been entitled to receive pursuant to Section 4 hereof for
such year based upon the Company's actual results for the year of termination
and the percentage of the fiscal year that shall have elapsed through the date
of Executive's termination of employment, payable to Executive pursuant to
Section 4 had Executive's employment not terminated;

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(D) subject to Executive's continued compliance with the provisions of
Sections 8 and 9 and Executive's execution (and non-revocation) of the Release,
an amount equal to the sum of (x) the product of the Severance Period (expressed
in years as described below) times the Base Salary at the rate in effect
immediately prior to the date of Executive's termination of employment and (y)
one (1) times the actual Annual Bonus received in respect of the fiscal year
immediately preceding the year of Executive's termination of employment (the
"Prior Bonus"), payable in equal installments during the Severance
Period, in accordance with the Company's periodic payroll practices; provided,
however, that the aggregate amount described in this subsection (D) shall be in
lieu of notice or any other severance amounts to which the Executive may
otherwise be entitled and shall be reduced by any amounts owed by Executive to
the Company or any affiliate. For purposes of clause (y) of this subsection (D),
if Executive's employment is terminated prior to his first opportunity to
receive an Annual Bonus, the Annual Bonus, if any, that Executive would have
been entitled to receive pursuant to Section 4 hereof for such year based upon
the Company's actual results for the year of termination will be substituted for
the Prior Bonus. For purposes of this subsection (D), the "Severance
Period" shall initially be a twelve (12) month period commencing on the
Executive's termination of employment, which period shall be increased by three
(3) months on each anniversary of the Hire Date prior to such termination of
employment, up to a maximum of twenty-four (24) months; and

(E) continuation of medical, dental and life insurance benefits (pursuant to
the same benefit plans as in effect for active employees of the Company), with
Executive paying a portion of such costs as if Executive's employment had not
terminated, until the earlier to occur of (1) the end of the Severance Period
and (2) the date on which Executive commences to be eligible for coverage under
medical, dental and life insurance benefit plans from any subsequent employer,
except to the extent that such continued coverage is not possible under the
general terms and provisions of such plan(s) of the Company. In order to
facilitate any such possible coverage, Executive and his spouse and dependents,
as applicable, in accordance with the Company's policies in effect at the time
of Executive's termination, shall agree to elect continuation coverage in
accordance with the provisions of the Consolidated Omnibus Budget Reconciliation
Act of 1986, as amended ("COBRA Coverage") and the Company may satisfy
its obligations hereunder by paying a portion of the premiums required for such
COBRA Coverage.

Following Executive's termination of employment by the Company without Cause
(excluding by reason of Executive's death or Disability) or by Executive for
Good Reason, except as set forth in this Section 7(c)(iii), Executive shall have
no further rights to any compensation or any other benefits under this
Agreement.

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d. Notice of Termination. Any purported termination of employment by the
Company or by Executive (other than due to Executive's death) shall be
communicated by written Notice of Termination to the other party hereto in
accordance with Section 12(g) hereof. For purposes of this Agreement, a
"Notice of Termination" shall mean a notice which shall indicate the
specific termination provision in this Agreement relied upon and shall set forth
in reasonable detail the facts and circumstances claimed to provide a basis for
termination of employment under the provision so indicated.

e. Board/Committee Resignation. Upon termination of Executive's employment
for any reason, Executive agrees to resign, as of the date of such termination
and to the extent applicable, from the Board and any Subsidiary Boards (and any
committees thereof).

8. Non-Competition.

a. Executive acknowledges and recognizes the highly competitive nature of the
businesses of Holdings and its affiliates and accordingly agrees as follows:

(i) During the Employment Term and (x) during the Severance Period following
any termination of the Employment Term pursuant to Section 7(c) hereof or (y)
during the two-year period after any termination or expiration of the Employment
Period for any reason other than pursuant to Section 7(c) hereof (in each case,
the "Restricted Period"), Executive will not, whether on Executive's
own behalf or on behalf of or in conjunction with any person, firm, partnership,
joint venture, association, corporation or other business organization, entity
or enterprise whatsoever ("Person"), directly or indirectly:

(A) engage in any business that directly or indirectly is a "Competitive
Business." For purposes of this subsection (A) a "Competitive
Business" means, with respect to the Executive at any time, any Person
engaged wholly or in part (directly or through one or more subsidiaries) in the
retail sale or distribution (including in stores or via mail order, e-commerce,
or similar means) of "Competing Products," if more than one-third
(1/3) of such Person's gross sales for the twelve (12) month period preceding
such time (or with respect to the period after Executive's termination date, as
of such termination date) are generated by engaging in such sale or distribution
of Competing Products. Without limiting the foregoing, Competitive Businesses
shall in any event include, Wal-Mart, K-Mart, Target, Amazon.com, Zellers,
Sears, Right Start, Zany Brainy, FAO Schwartz, Buy Buy Baby, e-toys, KB Toys,
Mattel, Hasbro, Lego, Bandai, Playmobil, Ravensburger, Evenflo, Graco/Little
Tikes, Chicco, Cosco, Maclaren, Britax, Woolworths, Argos, Tesco, Asda,
Mothercare, Carrefour, Auchan, Leclerc, La Grande Recre, Karstadt, Real, Kaufhof,
Mueller, El Corte Ingles, Loblaws, or any of their respective subsidiaries or
affiliates. For purposes of this subsection (A) "Competing Products"
means, with respect to the Executive at any time, (1) toys and games, (2) video
games, computer software for children, and electronic toys or games, (3)
juvenile or baby products, apparel, equipment, furniture, or consumables, (4)
wheeled goods for children, and (5) any other product or group of related
products that represents more than twenty (20)

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percent of the gross sales of Holdings and its subsidiaries for the twelve
(12) month period preceding such time (or with respect to the period after the
Executive's termination date, as of such termination date);

(B) enter the employ of, or render any services to, any Person (or any
division or controlled or controlling affiliate of any Person) who or which
engages in a Competitive Business;

(C) acquire a financial interest in, or otherwise become actively involved
with, any Competitive Business, directly or indirectly, as an individual,
partner, shareholder, officer, director, principal, agent, trustee or
consultant; or

(D) interfere with, or attempt to interfere with, business relationships
(whether formed before, on or after the date of this Agreement) between Holdings
or any of its affiliates and customers, clients, suppliers, partners, members or
investors of Holdings or its affiliates.

(E) Notwithstanding anything to the contrary in this Agreement, Executive
may, directly or indirectly own, solely as a passive investment, securities of
any Person engaged in a Competitive Business which are publicly traded on a
national or regional stock exchange or on the over-the-counter market or which
are privately held if Executive (x) is not a controlling Person of, or a member
of a group which controls, such Person and (y) does not, directly or indirectly,
own 3% or more of any class of securities of such Person which is publicly
traded or privately held.

(ii) During the Restricted Period, Executive will not, whether on Executive's
own behalf or on behalf of or in conjunction with any Person, directly or
indirectly:

(A) solicit to leave the employment of, or encourage any employee of Holdings
or its affiliates to leave the employment of, Holdings or its affiliates; or

(B) hire any such employee (other than clerical or administrative support
personnel) who was employed by Holdings or its affiliates as of the date of
Executive's termination of employment with the Company or who left the
employment of Holdings or its affiliates coincident with, or within one year
prior to, the termination of Executive's employment with the Company.

(iii) During the Restricted Period, Executive will not, directly or
indirectly, solicit to leave the employment of, or encourage to cease to work
with, as applicable, Holdings or its affiliates any consultant, supplier or
service provider then under contract with Holdings or its affiliates.

b. It is expressly understood and agreed that although Executive and the
Company consider the restrictions contained in this Section 8 to be reasonable,
if a final judicial

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determination is made by a court of competent jurisdiction that the time or
territory or any other restriction contained in this Agreement is an
unenforceable restriction against Executive, the provisions of this Agreement
shall not be rendered void but shall be deemed amended to apply as to such
maximum time and territory and to such maximum extent as such court may
judicially determine or indicate to be enforceable. Alternatively, if any court
of competent jurisdiction finds that any restriction contained in this Agreement
is unenforceable, and such restriction cannot be amended so as to make it
enforceable, such finding shall not affect the enforceability of any of the
other restrictions contained herein.

9. Confidentiality.

a. Executive will not at any time (whether during or after Executive's
employment with the Company), except when required to perform his or her duties
to the TRU Group, (x) retain or use for the benefit, purposes or account of
Executive or any other Person; or (y) disclose, divulge, reveal, communicate,
share, transfer or provide access to any Person outside the TRU Group (other
than its professional advisers who are bound by confidentiality obligations),
any non-public, proprietary or confidential information --including without
limitation rates, trade secrets, know-how, research and development, software,
databases, inventions, processes, formulae, technology, designs and other
intellectual property, information concerning finances, investments, profits,
pricing, costs, products, services, vendors, customers, clients, partners,
investors, personnel, compensation, recruiting, training, advertising, sales,
marketing, promotions, government and regulatory activities and approvals --
concerning the past, current or future business, activities and operations of
Holdings and its subsidiaries and/or any third party that has disclosed or
provided any of same to Holdings and its subsidiaries on a confidential basis
("Confidential Information") without the prior written authorization
of the CEO.

b. "Confidential Information" shall not include any information
that is (x) generally known to the industry or the public other than as a result
of Executive's breach of this covenant or any breach of other confidentiality
obligations by third parties; (y) required by law or judicial process to be
disclosed; provided that Executive shall give prompt written notice to Holdings
of such requirement, disclose no more information than is so required, and
cooperate with any attempts by Holdings to obtain a protective order or similar
treatment; or (z) disclosed in connection with a litigation or arbitration
proceeding between the parties.

c. Except as required by law or judicial process, Executive will not disclose
to anyone, other than Executive's immediate family, legal and/or financial
advisors, the existence or contents of this Agreement; provided that Executive
may disclose to any prospective future employer the provisions of Sections 8 and
9 of this Agreement, provided they agree to maintain the confidentiality of such
terms.

d. Upon termination of Executive's employment with the TRU Group for any
reason, Executive shall (x) cease and not thereafter commence use of any
Confidential Information or intellectual property (including without limitation,
any patent, invention, copyright, trade secret, trademark, trade name, logo,
domain name or other source indicator) owned by Holdings, its subsidiaries or
affiliates; (y) immediately destroy, delete, or return to Holdings, at Holdings'
option, all originals and copies in any form or medium (including

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memoranda, books, papers, plans, computer files, letters and other data) in
Executive's possession or control (including any of the foregoing stored or
located in Executive's office, home, laptop or other computer, whether or not
Holdings property) that contain Confidential Information or otherwise relate to
the business of Holdings, its affiliates or subsidiaries (whether or not the
retention or use thereof would reasonably be expected to result in a
demonstrable injury to Holdings, its affiliates or subsidiaries), except that
Executive may retain only those portions of any personal notes, notebooks and
diaries that do not contain any Confidential Information; and (z) notify and
fully cooperate with Holdings regarding the delivery or destruction of any other
Confidential Information of which Executive is or becomes aware.

e. Executive shall not improperly use for the benefit of, bring to any
premises of, divulge, disclose, communicate, reveal, transfer or provide access
to, or share with the TRU Group any confidential, proprietary or non-public
information or intellectual property relating to a former employer or other
third party without the prior written permission of such third party. Executive
hereby indemnifies, holds harmless and agrees to defend the TRU Group and its
respective officers, directors, partners, employees, agents and representatives
from any actual breach of the foregoing covenant. During the Employment Term,
Executive shall comply with all relevant written policies and guidelines of
Holdings and its subsidiaries and affiliates which have been made available or
disclosed to him, including regarding the protection of Confidential Information
and intellectual property and potential conflicts of interest. Executive
acknowledges that Holdings and its subsidiaries and affiliates may amend any
such policies and guidelines from time to time, and that Executive remains at
all times bound by their most current version; provided, however, that Executive
shall not be bound by any such amendments unless and until Executive receives
notice of such amendments and copies thereof are made available or disclosed to
him.

f. The provisions of this Section 9 shall survive the termination of
Executive's employment for any reason.

10. Specific Performance. Executive acknowledges and agrees that the
Company's remedies at law for a breach or threatened breach of any of the
provisions of Sections 8 or 9 would be inadequate and the Company and its
subsidiaries and affiliates would suffer irreparable damages as a result of such
breach or threatened breach. In recognition of this fact, Executive agrees that,
in the event of such a breach or threatened breach, in addition to any remedies
at law, the Company, without posting any bond, shall be entitled to cease making
any payments or providing any benefit otherwise required by this Agreement and
obtain equitable relief in the form of specific performance, temporary
restraining order, temporary or permanent injunction or any other equitable
remedy which may then be available.

11. Arbitration. Except as provided in Section 10, any other dispute
arising out of or asserting breach of this Agreement, or any statutory or common
law claim by Executive relating to his employment under this Agreement or the
termination thereof (including any tort or discrimination claim), shall be
exclusively resolved by binding statutory arbitration in accordance with the
Employment Dispute Resolution Rules of the American Arbitration Association.
Such arbitration process shall take place in New York, New York. A court of
competent jurisdiction may enter judgment upon the arbitrator's award. Each
party shall pay the

11

         

costs and expenses of arbitration (including fees and disbursements of
counsel) incurred by such party in connection with any dispute arising out of or
asserting breach of this Agreement.

12. Miscellaneous.

a. Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of New Jersey, without regard to conflicts
of laws principles thereof.

b. Entire Agreement/Amendments. This Agreement and the Equity Documents
contain the entire understanding of the parties with respect to the employment
of Executive by the TRU Group. There are no restrictions, agreements, promises,
warranties, covenants or undertakings between the parties with respect to the
subject matter herein other than those expressly set forth herein and therein.
This Agreement may not be altered, modified, or amended except by written
instrument signed by the parties hereto.

c. No Waiver. The failure of a party to insist upon strict adherence to any
term of this Agreement on any occasion shall not be considered a waiver of such
party's rights or deprive such party of the right thereafter to insist upon
strict adherence to that term or any other term of this Agreement.

d. Severability. In the event that any one or more of the provisions of this
Agreement shall be or become invalid, illegal or unenforceable in any respect,
the validity, legality and enforceability of the remaining provisions of this
Agreement shall not be affected thereby.

e. Assignment. This Agreement, and all of Executive's rights and duties
hereunder, shall not be assignable or delegable by Executive; provided, however,
that if Executive shall die, all amounts then payable to Executive hereunder
shall be paid in accordance with the terms of this Agreement to Executive's
devisee, legatee or other designee or, if there be no such devisee, legatee or
designee, to Executive's estate. Any purported assignment or delegation by
Executive in violation of the foregoing shall be null and void ab initio and of
no force and effect. This Agreement may be assigned by the Company to a person
or entity which is an affiliate, and shall be assigned to any successor in
interest to substantially all of the business operations of the Company. Upon
such assignment, the rights and obligations of the Company hereunder shall
become the rights and obligations of such affiliate or successor person or
entity. Further, the Company will require any successor (whether, direct or
indirect, by purchase, merger, consolidation, or otherwise) to all or
substantially all of the business and/or assets of the Company to assume
expressly and agree to perform this Agreement in the same manner and to the same
extent that the Company would be required to perform it if no such succession
had taken place. As used in this Agreement, "Company" shall mean the
Company and any successor to its business and/or assets which is required by
this Section 12(e) to assume and agree to perform this Agreement or which
otherwise assumes and agrees to perform this Agreement; provided, however, in
the event that any successor, as described above, agrees to assume this
Agreement in accordance with the preceding sentence, as of the date such
successor so assumes

12

this Agreement, the Company shall cease to be liable for any of the
obligations contained in this Agreement.

f. Set Off; Mitigation. The Company's obligation to pay Executive the amounts
provided and to make the arrangements provided hereunder shall not be subject to
set-off, counterclaim or recoupment, other than amounts loaned or advanced to
Executive by the Company or its affiliates, amounts owed by Executive under the
Equity Documents, or otherwise as provided in Section 7(c) hereof. Executive
shall not be required to mitigate the amount of any payment provided for
pursuant to this Agreement by seeking other employment or otherwise and the
amount of any payment provided for pursuant to this Agreement shall not be
reduced by any compensation earned as a result of Executive's other employment
or otherwise.

g. Notice. For the purpose of this Agreement, notices and all other
communications provided for in the Agreement shall be in writing and shall be
deemed to have been duly given when delivered by hand or overnight courier or
three days after it has been mailed by United States registered mail, return
receipt requested, postage prepaid, addressed to the respective addresses set
forth below in this Agreement, or to such other address as either party may have
furnished to the other in writing in accordance herewith, except that notice of
change of address shall be effective only upon receipt.

If to the Company:

Toys "R" Us, Inc. One Geoffrey Way Wayne, New Jersey 07470
Attention: General Counsel

If to Executive:

To the most recent address of Executive set forth in the personnel records of
the Company.

h. Executive Representation. Executive hereby represents to the Company that
the execution and delivery of this Agreement by Executive and the performance by
Executive of Executive's duties hereunder shall not constitute a breach of, or
otherwise contravene, the terms of any employment agreement or other agreement
or policy to which Executive is a party or otherwise bound.

i. Prior Agreements. This Agreement supercedes all prior agreements and
understandings (including verbal agreements) between Executive and the Company
and/or its affiliates regarding the terms and conditions of Executive's
employment with the Company and/or its affiliates; provided, however, that the
Equity Documents shall govern the terms and conditions of Executive's equity
holdings in Holdings.

j. Cooperation. Executive shall provide Executive's reasonable cooperation in
connection with any action or proceeding (or any appeal from any action or
proceeding) which

13

          

relates to events occurring during Executive's employment hereunder, but only
to the extent the Company requests such cooperation with reasonable advance
notice to Executive and in respect of such periods of time as shall not
unreasonably interfere with Executive's ability to perform his duties with any
subsequent employer; provided, however, that the Company shall pay any
reasonable travel, lodging and related expenses that Executive may incur in
connection with providing all such cooperation, to the extent approved by the
Company prior to incurring such expenses. Further, Executive hereby consents to
the disclosure of information about Executive that the Company is required to
disclose in its annual report on Form 10-K or in other reports required to be
filed with the Securities and Exchange Commission under the Securities Act of
1933 or the Securities Exchange Act of 1934 and the rules and regulations
thereunder.

k. Withholding Taxes. The Company may withhold from any amounts payable under
this Agreement such Federal, state and local taxes as may be required to be
withheld pursuant to any applicable law or regulation.

l. Counterparts. This Agreement may be signed in counterparts, each of which
shall be an original, with the same effect as if the signatures thereto and
hereto were upon the same instrument.

m. Compliance with Section 409A. Notwithstanding anything herein to the
contrary, (i) if at the time of Executive's termination of employment with the
TRU Group Executive is a "specified employee" as defined in Section
409A of the Internal Revenue Code of 1986, as amended (the "Code"),
and the deferral of the commencement of any payments or benefits otherwise
payable hereunder as a result of such termination of employment is necessary in
order to prevent the imposition of any accelerated or additional tax under
Section 409A of the Code, then the Company will defer the commencement of the
payment of any such payments or benefits hereunder (without any reduction in
such payments or benefits ultimately paid or provided to Executive) until the
date that is six months following Executive's termination of employment with the
TRU Group (or the earliest date as is permitted under Section 409A of the Code)
and (ii) if any other payment of money or other benefits due to Executive
hereunder could cause the application of an accelerated or additional tax under
Section 409A of the Code, such payment or other benefits shall be deferred if
deferral will make such payment or other benefits compliant under Section 409A
of the Code, or otherwise such payment or other benefits shall be restructured,
to the extent possible, in a manner, determined by the CEO (but subject to the
reasonable consent of the Executive), that does not cause such an accelerated or
additional tax or result in an additional cost to the Company. The Company shall
consult with Executive in good faith regarding the implementation of the
provisions of this Section 12(m); provided that neither the Company nor any of
its employees or representatives shall have any liability to Executive with
respect thereto. Notwithstanding anything herein to the contrary, this Section
12(m) shall not apply to any payments or benefits due to Executive under the
Equity Documents.

n. Legal Fees. The Company shall reimburse Executive for all reasonable legal
fees in an amount not to exceed $5,000 for the initial negotiation, drafting and
review of this Agreement.

               
[Signatures on next page.]

14

IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as
of the day and year first above written.

	
                                                

    	
                                     

    		
            

    	
       TOYS "R" US, INC.                                                 

    
				By:      /s/ David J.
                Schwartz            
				Name: 	 David J. Schwartz
	
                                                

    	
                                     

    		
      Title: Senior Vice President -

    
	
                                                

    	
                                     

    		
              General Counsel

	
                                                

    	
                                     

    		
            

    	
      

	
      

    	
                                     

    		
      EXECUTIVE:

    
	
                                                

    	
                                     

    		
		
                                     

    		
       
                /s/ Ronald D. Boire    

    
		
                                     

    		
      RONALD D. BOIRE

    

 

  
    
      
        
          
            
              
                
                  
                      

                  

                

                    

                  

                  
                 

                            

                 

                 

                        

                15

              

            

          

        

      

    

  

EXHIBIT A

National Multiple Sclerosis Society

16

EXHIBIT B

SEPARATION AND RELEASE AGREEMENT

This Separation and Release Agreement ("Agreement") is entered into
as of this ___ day of __________________________, 20__, between TOYS
"R" US, INC. and any successor thereto (collectively, the
"Company") and RONALD D. BOIRE (the "Executive").

The Executive and the Company agree as follows:

1. The employment relationship between the Executive and the Company and its
subsidiaries and affiliates, as applicable, terminated on
_________________________________ (the "Termination Date").

2. In accordance with the Executive's Employment Agreement, Executive is
entitled to receive certain payments and benefits after the Termination Date.

3. In consideration of the above, the sufficiency of which the Executive
hereby acknowledges, the Executive, on behalf of the Executive and the
Executive's heirs, executors and assigns, hereby releases and forever discharges
the Company and its members, parents, affiliates, subsidiaries, divisions, any
and all current and former directors, officers, employees, agents, and
contractors and their heirs and assigns, and any and all employee pension
benefit or welfare benefit plans of the Company, including current and former
trustees and administrators of such employee pension benefit and welfare benefit
plans, from all claims, charges, or demands, in law or in equity, whether known
or unknown, which may have existed or which may now exist from the beginning of
time to the date of this Agreement, including, without limitation, any claims
the Executive may have arising from or relating to the Executive's employment or
termination from employment with the Company and its subsidiaries and
affiliates, as applicable, including a release of any rights or claims the
Executive may have under Title VII of the Civil Rights Act of 1964, as amended,
and the Civil Rights Act of 1991 (which prohibit discrimination in employment
based upon race, color, sex, religion, and national origin); the Americans with
Disabilities Act of 1990, as amended, and the Rehabilitation Act of 1973 (which
prohibit discrimination based upon disability); the Family and Medical Leave Act
of 1993 (which prohibits discrimination based on requesting or taking a family
or medical leave); Section 1981 of the Civil Rights Act of 1866 (which prohibits
discrimination based upon race); Section 1985(3) of the Civil Rights Act of 1871
(which prohibits conspiracies to discriminate); the Employee Retirement Income
Security Act of 1974, as amended (which prohibits discrimination with regard to
benefits); any other federal, state or local laws against discrimination; or any
other federal, state, or local statute, or common law relating to employment,
wages, hours, or any other terms and conditions of employment. This includes a
release by the Executive of any claims for wrongful discharge, breach of
contract, torts or any other claims in any way related to the Executive's
employment with or resignation or termination from the Company and its
subsidiaries and affiliates, as applicable. This release also includes a release
of any claims for age discrimination under the Age Discrimination in Employment
Act, as amended ("ADEA"). The ADEA requires that the Executive be
advised to consult with an

17

 

attorney before the Executive waives any claim under ADEA. In addition, the
ADEA provides the Executive with at least 21 days to decide whether to waive
claims under ADEA and seven days after the Executive signs the Agreement to
revoke that waiver. This release does not release the Company from any
obligations due to the Executive under the Executive's Employment Agreement or
under this Agreement, any rights Executive has to indemnification by the Company
and any vested rights Executive has under the Company's employee pension benefit
and welfare benefit plans.

4. This Agreement is not an admission by either the Executive or the Company
or its subsidiaries or affiliates of any wrongdoing or liability.

5. The Executive waives any right to reinstatement or future employment with
the Company and its subsidiaries and affiliates following the Executive's
separation from the Company and its subsidiaries and affiliates on the
Termination Date.

6. The Executive agrees not to engage in any act after execution of the
Agreement that is intended, or may reasonably be expected to harm the
reputation, business, prospects or operations of the Company or its subsidiaries
or affiliates or their respective officers, directors, stockholders or
employees.

7. The Executive shall continue to be bound by Sections 8 and 9 of the
Executive's Employment Agreement.

8. The Executive shall promptly return all Company and subsidiary and
affiliate property in the Executive's possession, including, but not limited to,
Company or subsidiary or affiliate keys, credit cards, cellular phones, computer
equipment, software and peripherals and originals or copies of books, records,
or other information pertaining to the Company or subsidiary or affiliate
business.

9. This Agreement shall be governed by and construed in accordance with the
laws of the State of New Jersey, without reference to the principles of conflict
of laws. Exclusive jurisdiction with respect to any legal proceeding brought
concerning any subject matter contained in this Agreement shall be settled by
arbitration as provided in the Executive's Employment Agreement.

10. This Agreement represents the complete agreement between the Executive
and the Company concerning the subject matter in this Agreement and supersedes
all prior agreements or understandings, written or oral. This Agreement may not
be amended or modified otherwise than by a written agreement executed by the
parties hereto or their respective successors and legal representatives.

11. Each of the sections contained in this Agreement shall be enforceable
independently of every other section in this Agreement, and the invalidity or
unenforceability of any section shall not invalidate or render unenforceable any
other section contained in this Agreement.

18

12. It is further understood that for a period of 7 days following the
execution of this Agreement in duplicate originals, the Executive may revoke
this Agreement, and this Agreement shall not become effective or enforceable
until the revocation period has expired. No revocation of this Agreement by the
Executive shall be effective unless the Company has received within the 7 day
revocation period, written notice of any revocation, all monies received by the
Executive under this Agreement and the Executive's Employment Agreement and all
originals and copies of this Agreement.

13. This Agreement has been entered into voluntarily and not as a result of
coercion, duress, or undue influence. The Executive acknowledges that the
Executive has read and fully understands the terms of this Agreement and has
been advised to consult with an attorney before executing this Agreement.
Additionally, the Executive acknowledges that the Executive has been afforded
the opportunity of at least 21 days to consider this Agreement.

The parties to this Agreement have executed this Agreement as of the day and
year first written above.

		TOYS "R" US, INC.
		
		By:
		_______________________________________
		Name:
		Title:
		
		 

_______________________________________

		RONALD D. BOIRE

19Exhibit 10.2

Exhibit 10.2

AMENDMENT NO. 2 TO THE 

TOYS "R" US HOLDINGS, INC. 

2005 MANAGEMENT EQUITY PLAN

This Amendment No. 2 (this "Amendment") to the Toys "R"
Us Holdings, Inc. 2005 Management Equity Plan, as amended (the "Plan")
shall become effective as of June 28, 2006, concurrent with its adoption by the
executive committee of the board of directors of Toys "R" Us Holdings,
Inc. (the "Company") on such date. Capitalized terms used but not
otherwise defined in this Amendment have the meaning given to such terms in the
Plan.

1. Amendment of Article Section 6.2. Section 6.2 of the Plan is hereby
amended by replacing the third sentence thereof in its entirety with the
following sentence:

"Unless otherwise set forth in an Award Agreement, the portion of a
Participant's Options that have fully vested as of such Participant's
Termination Date shall expire (i) 30 days after the Termination Date if a
Participant is terminated without Cause or if a Participant resigns for any
reason (including Retirement), (ii) 90 days after the Termination Date if a
Participant is terminated due to Disability, (iii) 180 days after the
Termination Date if a Participant is terminated due to death, and (iv)
immediately upon termination if a Participant is terminated with Cause."

2. Amendment of Article Section 7.1. Section 7.1 of the Plan is hereby
deleted and replaced the following:

"7.1 Restricted Stock. The Board shall have the right and power, at any
time prior to the termination of this Plan, to sell to any Participant for
purchase prices equal to Fair Market Value, or to grant to any Participant
without consideration as an incentive for future services, Restricted Stock in
such quantity, on such terms, and subject to such conditions that are consistent
with this Plan and established by the Board. Restricted Stock sold or granted
under this Plan shall be in the form described in this Article VII, or in such
other form or forms as the Board may determine, and shall be subject to such
additional terms and conditions and evidenced by Award Agreements, as shall be
determined from time to time by the Board. Except as otherwise set forth in an
Award Agreement, Restricted Stock shall be subject to all of the terms and
conditions contained in this Plan. The consideration for any such sale shall be
cash, unless otherwise determined by the Board. In the case of a sale of
Restricted Stock under the Plan, a Participant may elect to purchase any or all
of the Restricted Stock awarded to him or her by the Board through one or more
entities (but not natural persons) that would constitute a Permitted Transferee
as such term is defined in the Plan, which entity shall be bound by all of the
terms of this Plan, any Award Agreement, and the Stockholders Agreement in the
same manner as any other Permitted Transferee hereunder. In the case of a grant
of Restricted Stock under the Plan without consideration, the grant shall be
made solely to the Participant. 3. Amendment of Article Section 7.2. Section 7.2
of the Plan is hereby amended by

1

replacing the final sentence thereof in its entirety with the following two
sentences:

"In addition, in connection with any acquisition of Restricted Stock
that is purchased from the Company, Participant shall make an election under
Section 83(b) of the Code, in the form prescribed by the Board. A Participant
may, but is not required to, make such an election in the case of Restricted
Stock granted for no consideration."

4. Amendment of Article Section 7.3(a). Section 7.3(a) of the Plan is hereby
deleted and replaced the following:

"All Restricted Stock shall not be Transferable (other than pursuant to
Article IX or X below, or as otherwise permitted pursuant to the terms of the
Stockholders Agreement) by the Participant holding such Restricted Stock until
the occurrence of a Change in Control or such later time as may set forth in the
applicable Award Agreement. Any attempted Transfer of Restricted Stock which is
not specifically permitted under the Plan shall be null and void."

5. Amendment of Article Section 7.3(b). Section 7.3(b) of the Plan is hereby
deleted and replaced the following:

"Notwithstanding the provisions of Section 7.3(a) above, Restricted
Stock for which an election under Section 83(b) of the Code has been timely
filed shall be Transferable by a Participant to any of the Participant's
Permitted Transferees. As part of any such Transfer, the Permitted Transferee
shall execute such documents as the Company may reasonably require, which such
documents shall provide that the Permitted Transferee (i) remains bound by the
Plan and the applicable Award Agreement in the same manner as the Participant,
and (ii) is bound by all of the terms and conditions of the Stockholders
Agreement."

6. Continuing Force and Effect. The Plan, as modified by the terms of this
Amendment, shall continue in full force and effect from and after the date of
the adoption of this Amendment set forth above.

2

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