Document:

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                                                      	Dateexhibit1059.htm

    Exhibit
10.59

    

    RADIOSHACK
CORPORATION 2009 INCENTIVE STOCK PLAN

    RESTRICTED
STOCK AGREEMENT

    

     

    THIS AGREEMENT
(this “Agreement”) is effective as of the ____ day of ____________, 20___ (the
“Grant Date”), between RadioShack Corporation, a Delaware corporation (the
“Company”), and the person (the “Grantee”) named in the Notice of Grant
of Award and Award Agreement (the “Notice”) attached hereto, the provisions
of which are incorporated herein by reference.  Capitalized terms used
in this Agreement but not defined herein shall have the meanings assigned to
them in the RadioShack Corporation 2009 Incentive Stock Plan (the
“Plan”).

     

    WHEREAS, on
February 19, 2009, the Board of Directors of the Company approved the Plan to
provide an additional incentive to certain officers, key employees, directors,
consultants and other advisors of the Company and its Subsidiaries, and then
directed that the Plan be submitted to the stockholders of the Company for
approval;

     

    WHEREAS, on May 21,
2009 the stockholders of the Company approved the adoption of the Plan;
and

     

    WHEREAS, the
Committee responsible for administration of the Plan has determined that it is
in the best interests of the Company and its stockholders to grant a restricted
stock award to the Grantee as provided herein;

     

    NOW, THEREFORE, the
Company and the Grantee agree as follows:

     

      
1.           Grant of Restricted
Stock.

     

    1.1 The Company
hereby grants to the Grantee a Restricted Stock Award with respect to the number
of Shares set forth in the Notice, subject to, and in accordance with, the terms
and conditions set forth in this Agreement and as otherwise provided in the
Plan.

     

    1.2 This Agreement
shall be construed in accordance and consistent with, and subject to the
provisions of, the Plan, the provisions of which are incorporated herein by
reference.  In the event of a conflict between this Agreement and the
Plan, the Plan shall control.

     

    1.3 The Grantee's
rights with respect to the Restricted Stock Award shall remain subject to
forfeiture at all times prior to the date(s) on which the restrictions shall
have lapsed or are removed pursuant to Section 3.2 or 4.

     

      
2.           Rights of
Grantee.

     

    Except as otherwise
provided in this Agreement, the Grantee shall be entitled, at all times on and
after the date hereof, to exercise all rights of a stockholder with respect to
the Shares granted to the Grantee pursuant to the Restricted Stock Award (the
“Restricted Shares”) (whether or not vested), other than any Restricted Shares
which have been forfeited pursuant to Section 3.3, including the right to
vote

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    the Restricted
Shares and the right to receive dividends thereon as provided in Section
6.  Notwithstanding the foregoing, the Grantee shall not be entitled,
with respect to the Restricted Shares in respect of which the Resale Restriction
has not previously lapsed or been removed pursuant to Section 3.2 or 4, to
exercise any rights the exercise of which would result in forfeiture of such
Restricted Shares pursuant to Section 3.3(b).

    

      
3.           Resale Restriction, Lapse of
Restrictions and Forfeiture.

     

    3.1 The Grantee may
not transfer, sell, pledge, hypothecate or assign any of Grantee’s rights with
respect to the Restricted Shares until the Restricted Shares have vested in
accordance with Section 3.2 (the “Resale Restriction”) or until the Resale
Restriction has been removed in accordance with Section 4.

     

    3.2 The Resale
Restriction shall lapse on the dates and in relation to the amounts of
Restricted Shares, as set forth in the Notice.  In the event of a
Change in Control, the Grantee’s death or Disability, the Grantee’s Retirement,
or otherwise pursuant to Section 4, the Resale Restriction shall immediately
lapse with respect to the Restricted Shares.  In the event of the
Grantee’s death, the Grantee’s personal representative shall be substituted for
the Grantee each time the Grantee is referred to herein.

     

    3.3 Upon the
occurrence of either (a) the termination of the Grantee's employment with the
Company or a Subsidiary for any reason (other than a termination upon a Change
in Control or the Grantee’s death, Disability or Retirement) prior to the latest
vesting date set forth in the Notice, or (b) an attempt by the Grantee to
transfer, sell, pledge, hypothecate, or assign the Grantee’s rights with respect
to the Restricted Shares remaining forfeitable at the time of such attempted
transfer, sale, pledge, hypothecation or assignment, the Restricted Shares in
respect of which the Resale Restriction has not previously lapsed or been
removed pursuant to Section 3.2 or 4 shall be forfeited.  The
Grantee’s ownership and all rights with respect to any forfeited Restricted
Shares shall automatically revert and be transferred to, and reacquired by, the
Company, and the Grantee shall thereafter have no further rights or interests in
such Restricted Shares.

     

    3.4 For purposes of
this Agreement, the following terms shall have the following
meanings:

     

    “Cause” shall mean
the commission of an act of fraud or intentional misrepresentation or an act of
embezzlement, misappropriation or conversion of assets or opportunities of the
Company or any Subsidiary.

     

    “Disability” shall
mean the suffering from a physical or mental condition which, in the opinion of
the Committee based upon appropriate medical advice and examination and in
accordance with rules applied uniformly to all employees of the Company and the
Subsidiaries, totally and permanently prevents the Grantee from performing the
customary duties of his or her regular job with the Company or the applicable
Subsidiary.

     

    “Retirement” shall
mean the Grantee’s voluntary or involuntary termination of employment with the
Company or a Subsidiary for any reason, other than for Cause, on or after the
date the Grantee attains age 55.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

     

      
4.           Removal of
Restrictions.

     

    4.1 In the event of
a Change in Control or the Grantee's death, Disability or Retirement, the Resale
Restriction upon the Restricted Shares shall lapse immediately, and all such
Restricted Shares shall become vested in the Grantee.

     

    4.2 The Resale
Restriction may be removed from any of the Restricted Shares whenever the
Committee determines, in its sole discretion, that it is in the best interests
of the Company to remove the restrictions on all or part of the Restricted
Shares immediately or at specified times.  Any such action by the
Committee shall be effective only when set forth in a written instrument
delivered to the Grantee.  In no event shall any action by the
Committee under this Section 4.2 extend the time for lapse of the Resale
Restriction.

     

      
5.           Escrow Arrangement and
Delivery of Shares.

     

    5.1 An entry for
the Grantee representing uncertificated Restricted Shares issued in Grantee’s
name shall be made by the Company’s stock transfer agent in the Company’s direct
registration system for stock issuance and transfer.  Such
uncertificated Restricted Shares shall be held by the Company for the Grantee's
account in escrow.  The Restricted Shares shall remain in escrow until
the Resale Restriction thereon has lapsed or has been removed, or such
Restricted Shares have been forfeited, in each case as provided in this
Agreement and the Plan.

     

    5.2 As soon as
practicable following the lapse or removal of the Resale Restriction with
respect to any Shares, the Company’s stock transfer agent shall indicate in the
Company’s direct registration system that the Resale Restriction on such Shares
has lapsed or has been removed.

     

    5.3 Each book entry
position representing Restricted Shares held for the Grantee's account in escrow
shall be subject to the following restrictions: The uncertificated shares of
stock so held are subject to the terms and conditions (including forfeiture and
restrictions on transfer) contained in the Plan and this
Agreement.  Release from such terms and conditions shall occur only in
accordance with the provisions of the Plan and this Agreement.

     

      
6.           Dividends.

     

    Delivery to the
Grantee of any dividends payable on the Restricted Shares shall be deferred
until the earlier of (a) the Resale Restriction on the Shares has lapsed or has
been removed pursuant to Section 3.2 or 4, or (b) the Grantee reaches age 55
(the “Deferred Dividend Payment Event”); provided that after the Deferred
Dividend Payment Event, payment of dividends to the Grantee on the Restricted
Shares shall no longer be deferred.  At the time of the Deferred
Dividend Payment Event, the Company shall pay from its general assets an amount
in cash equal to the amount, if any, of accumulated dividends on the Restricted
Shares, without interest, to the Grantee.  The payment shall be made
as soon as practicable but no later than 2 1⁄2 months after the calendar year in
which the Deferred Dividend Payment Event occurred.  If the Restricted
Shares are forfeited as provided in Section 3.3, any right to a payment in the
amount of the accumulated dividends relating to the forfeited Restricted Shares
shall also be forfeited.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

     

      
7.           No Right to Continued
Employment.

     

    Nothing in this
Agreement or the Plan shall be interpreted or construed to confer upon the
Grantee any right or contract with respect to continued employment by the
Company or any Subsidiary, nor shall this Agreement or the Plan interfere in any
way with the right of the Grantee’s employer to terminate the Grantee’s
employment at any time.

     

      
8.           Adjustments.

     

    In the event of a
Change in Capitalization, the Committee shall make appropriate adjustments, if
any, in the terms of this Agreement.  Any such adjustments shall be
made in accordance with the provisions of the Plan and shall be effective,
final, binding and conclusive for all purposes of the Plan and this
Agreement.

     

      
9.           Withholding of
Taxes.

     

    The Company shall
be entitled to take any of the following actions in order to satisfy tax
withholding obligations arising on account of this Agreement: (i) deduct from
any amount accrued, payable or issuable under this Agreement, including
withholding Shares in connection with a taxable event of the Grantee, the amount
equal to the federal, state and local income taxes and other amounts as may be
required by law to be withheld with respect thereto, (ii) require the Grantee to
pay to the Company such withholding taxes, or (iii) deduct from any other
compensation payable to the Grantee the amount of any withholding obligations
with respect to amounts accrued or payable under this Agreement.  The
Committee shall determine in its discretion which of the above actions shall be
taken in order to satisfy tax withholding obligations arising on account of this
Agreement, including but not limited to withholding from amounts not otherwise
payable at such time or attributable to Shares not otherwise issuable at such
time.

     

      
10.           Grantee Bound by the
Plan.

     

    The Grantee hereby
acknowledges receipt of a copy of the Plan and agrees to be bound by all the
terms and provisions thereof.  The Grantee hereby acknowledges receipt
of the prospectus regarding the offering and sale of the Restricted Shares
pursuant to the Plan.

     

      
11.           Severability.

     

    Should any
provision of this Agreement be held by a court of competent jurisdiction to be
unenforceable or invalid for any reason, the remaining provisions of this
Agreement shall not be affected by such holding and shall continue in full force
in accordance with their terms.

     

      
12.           Governing Law and
Forum.

     

    The validity,
interpretation, construction and performance of this Agreement shall be governed
by the laws of the State of Texas without giving effect to the conflicts of law
principles thereof.  Any suit brought under this Agreement shall only
be brought in the appropriate state or federal court located in Tarrant County,
Texas.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    

     

      
13.           Successors in
Interest.

     

    This Agreement
shall inure to the benefit of, and be binding upon, any successor of the
Company.  This Agreement shall inure to the benefit of the Grantee’s
personal representative.  All obligations imposed upon the Grantee and
all rights granted to the Company under this Agreement shall be effective,
final, binding and conclusive for all purposes upon the Grantee's heirs,
executors, administrators and personal representatives.

     

      
14.           Resolution of
Disputes.

     

    Any dispute or
disagreement which may arise under, or as a result of, or in any way relate to,
the interpretation, construction or application of this Agreement shall be
resolved by the Committee.  Any resolution made hereunder by the
Committee shall be effective, final, binding and conclusive on the Grantee and
the Company for all purposes.

     

      
15.           Entire Agreement;
Amendment.

     

    This Agreement,
together with the documents incorporated herein by reference, represents the
entire agreement between the parties with respect to the subject matter
hereof.  The Committee may terminate, amend or modify this Agreement,
provided that no such termination, amendment or modification may in any way
adversely affect  the Grantee’s rights under this Agreement without
the Grantee’s written approval.

     

      
16.           Acceptance.

     

    Unless the Grantee
notifies the Company in writing within 30 days after the date the Company mailed
or delivered this Agreement to the Grantee that the Grantee does not accept the
terms of this Agreement, the Grantee shall be deemed to have accepted, and be
bound by, the terms of this Agreement.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    ELECTION

     

    

     

    As permitted under
Section 83(b) of the Internal Revenue Code of 1986, as amended, I intend to make
the following irrevocable election:

     

    
      	
              ________

            	
              I DO intend
      to make the election permitted under Section 83(b) of the Internal Revenue
      Code of 1986, as amended, to be taxed immediately on the award of
      Restricted Stock in the year _________.  I understand that the
      consequences and procedures for making this election are summarized in the
      information I received about restricted stock
  grants.

            

    

     

    
      	
              ________

            	
              I DO NOT
      intend to make the election permitted under Section 83(b) of the Internal
      Revenue Code of 1986, as amended, and will be taxed on parts of the award
      of Restricted Stock in the year or years in which the restrictions
      lapse.

            

    

     

    
      	
              GRANTEE:

            	
              _________________________________

            

    

     

    Name

    

    SS #:
_________________________

    

     

    6

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