Document:

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                                 PROMISSORY NOTE
                             (Reynolds C. Faulkner)
Up to $717,000                                                 as of May 4, 2002

         In consideration of the loan (hereinafter referred to as a "Loan"),
KIRKLAND'S, INC., a Tennessee corporation (the "Lender"), has made or has agreed
to make to REYNOLDS C. FAULKNER, (the "Borrower"), and for value received, the
Borrower hereby promises to pay to the order of the Lender, at the Lender's
office located at 805 N. Parkway, Jackson, Tennessee 38308 or at such other
place in the continental United States as the Lender may designate in writing,
in lawful money of the United States, and in immediately available funds, the
principal sum of SEVEN HUNDRED SEVENTEEN THOUSAND DOLLARS ($717,000), or such
lesser amount as has actually been advanced by the Lender to the Borrower
hereunder, together with all accrued interest thereon.

         1.       Advances under this Note.

                  a.       Initial Advance. The Lender has advanced to the
Borrower Two Hundred Seventeen Thousand Dollars ($217,000) under this Note as of
the date first set forth above, constituting the initial principal amount
outstanding hereunder.

                  b.       Subsequent Advance. At the request of the Borrower,
the Lender agrees to lend an additional amount under this Note to the Borrower
on one occasion only, on April 10, 2003, in an amount not to exceed the lesser
of (a) Five Hundred Thousand Dollars ($500,000), or (b) the amount payable by
the Borrower to the U.S. Treasury as "alternative minimum tax" as shown on the
Borrower's Form 1040 tax return that he will be filing for the year 2002. Any
additional advance pursuant to this paragraph (b) shall give rise to an increase
in the outstanding principal amount of the Loan in the amount of such additional
advance.

         2.       Payments of Principal and Interest.

                  a.       Scheduled Maturity. The entire outstanding principal
balance of this Promissory Note (the "Note"), together with all accrued interest
and other fees, expenses and other amounts accrued hereunder, shall be due and
payable in full on the earlier of May 4, 2005 or such earlier date that this
Note is accelerated pursuant to Paragraph 3(b) hereof.

                  b.       Interest. The Borrower hereby further promises to pay
to the order of the Lender interest on the outstanding principal amount from the
date first set forth above, at a per annum rate equal to four and seventy-five
hundredths percent (4.75%)(the "Loan Rate"). Interest will accrue on any
additional advance made pursuant to Section 1(b) hereof from and after the date
of such additional advance on the outstanding principal amount of such
additional advance. Accrued interest will be due and payable on each of the
first, second and third anniversaries of the date first set forth above. The
Borrower shall pay on demand interest on any overdue payment of principal and
interest (to the extent legally enforceable) at the Loan Rate plus two percent
(2%) (the "Default Rate").

                  c.       Application of Payments. All payments made on this
Note (including, without limitation, prepayments) shall be applied, at the
option of the Lender, first to late charges and collection costs, if any, then
to accrued interest and then to principal. Interest

<PAGE>

payable hereunder shall be calculated for actual days elapsed on the basis of a
360-day year. All accrued and unpaid interest shall be due and payable upon
maturity of this Note. After maturity or in the Event of Default, interest shall
continue to accrue on this Note at the Default Rate set forth above, and shall
be payable on demand of the Lender.

                  d.       Optional Prepayment. The outstanding principal amount
of this Note may be prepaid in whole or in part without any prepayment penalty
or premium at any time or from time to time by Borrower upon notice to the
Lender; provided, that any prepayment shall be applied first to any interest due
to the date of such prepayment on this Note and thereafter shall be applied to
the installments of principal hereunder in the inverse order of maturity.

                  e.       Maximum Interest Rate. Notwithstanding anything in
this Note, the interest rate charged hereon shall not exceed the maximum rate
allowable by applicable law. If any stated interest rate herein exceeds the
maximum allowable rate, then the interest rate shall be reduced to the maximum
allowable rate, and any excess payment of interest made by Borrower at any time
shall be applied to the unpaid balance of any outstanding principal of this
Note.

         3.       Events of Default.

                  a.       The occurrence of any of the following events or
circumstances shall constitute an Event of Default hereunder:

                           (i)      A default in the payment by the Borrower to
the Lender of principal or interest under this Note as and when the same shall
become due and payable; or

                           (ii)     Institution of any proceeding by or against
the Borrower under any present or future bankruptcy or insolvency statute or
similar law and, if involuntary, if the same are not stayed or dismissed within
sixty (60) days, or the Borrower's assignment for the benefit of creditors or
the appointment of a receiver, trustee, conservator or other judicial
representative for the Borrower or the Borrower's property or the Borrower's
being adjudicated as bankrupt or insolvent; or

                           (iii)    An event of default under any pledge or
security agreement collateralizing the obligations under this Note; or

                           (iv)     The expiration of the thirty (30) day period
following the date the Borrower ceases for any reason to remain in service to
the Lender. For this purpose, the Borrower will be considered to remain in
service to the Lender for so long as the Borrower renders services as a
director, consultant or employee of the Lender, or to any successor entity or
one or more of the Lender's fifty (50%) percent or more owned (direct or
indirect) subsidiaries.

                  b.       Upon the occurrence of an Event of Default hereunder,
this Note shall automatically without any action or notice by Lender, be
accelerated and become immediately due and payable, and Lender shall have all of
the rights and remedies provided for herein or otherwise available at law or in
equity, all of which remedies shall be cumulative.

                                      -2-

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         4.       Notices. Notices required to be given hereunder shall be
deemed validly given (i) three business days after sent, postage prepaid, by
certified mail, return receipt requested, (ii) one business day after sent,
charges paid by the sender, by Federal Express Next Day Delivery or other
guaranteed delivery service, (iii) when sent by facsimile transmission, or (iv)
when delivered by hand:

         If to the Lender:        Kirkland's, Inc.
                                  805 N. Parkway
                                  P.O. Box 7222
                                  Jackson, Tennessee 38308-7222
                                  Attn: General Counsel

         If to the Borrower:      Reynolds C. Faulkner
                                  20 Deepwood Drive
                                  Jackson, Tennessee 38305

or to such other address, or in care of such other person, as the holder or the
Borrower shall hereafter specify to the other from time to time by due notice.

         5.       Miscellaneous.

                  a.       Payment of this Note will be secured by a pledge of
certain collateral with the Lender pursuant to a separate pledge or security
agreement. However, the Borrower is personally liable for payment of this note
and his assets may be applied to the satisfaction of his obligations hereunder.
Neither the reference to nor the provisions of any agreement or document
referred to herein shall affect or impair the absolute and unconditional
obligation of the Borrower to pay the principal of and interest on this Note as
herein provided.

                  b.       In addition to any rights now or hereafter granted
under applicable law and not by way of limitation of any such rights, upon and
after any amount becomes due and payable hereunder, the Lender is hereby
authorized by the Borrower, without notice to the Borrower, any such notice
being hereby expressly waived, to set off and appropriate and to apply any and
all obligations of Lender to the Borrower (including, without limitation,
salary, bonuses, deferred compensation and non-qualified retirement plan
benefits then payable and any other compensatory amounts) against and on account
of the amount then due and payable to Lender.

                  c.       Any action, suit or proceeding arising out of or
relating to this Note, or the breach, termination or validity thereof, shall be
litigated exclusively in the [trial court] of the State of Tennessee (the "State
Court"). Each of the parties hereto hereby irrevocably and unconditionally (i)
submits to the jurisdiction of the State Court, (ii) agrees not to commence any
proceeding relating to this Note except in the State Court, (iii) waives, and
agrees not to plead or to make, any objection to the venue of any such
proceeding in the State Court, (iv) waives, and agrees not to plead or to make,
any claim that any such proceeding brought in the State Court has been brought
in an improper or otherwise inconvenient forum, (v) waives, and agrees not to
plead or to make any claim that the State Court lacks personal jurisdiction over
it, (vi) waives its right to remove any such proceeding to the federal courts
except where such courts are vested with sole and exclusive jurisdiction by
statute, and (vii) understands and agrees

                                      -3-

<PAGE>

that it shall not seek a jury trial or punitive damages in any such proceeding
based upon or arising out of or otherwise related to this Note and waives any
and all rights to any such jury trial or to seek punitive damages. Borrower
waives personal service of process and agrees that a summons and complaint
commencing an action or proceeding in State Court will be properly served if
served by registered or certified mail in accordance with the notice provisions
set forth herein.

                  d.       The Borrower hereby waives presentment, demand,
notice of nonpayment, protest, notice of protest, notice of dishonor and any and
all other notices in connection with any default in the payment of, or any
enforcement of the payment of all amounts due under this Note. To the extent
permitted by law, the Borrower waives the right to any stay of execution and the
benefit of all exemption laws now or hereafter in effect. The Borrower agrees
that extension or extensions of the time of payment of this Note or any
installment or part thereof may be made before, at or after maturity by
agreement by the Lender. The Borrower shall pay to the Lender, upon demand, all
costs and expenses, including, without limitation, attorneys' fees and legal
expenses, that may be incurred by the Lender in connection with the enforcement
of this Note.

                  e.       Any failure by the Lender to exercise any right
hereunder shall not be construed as a waiver of the right to exercise the same
or any other right at any time. No amendment to or modification of this Note
shall be binding upon the Lender unless in writing and signed by it. Any
provision hereof found to be illegal, invalid or unenforceable for any reason
whatsoever shall not affect the validity, legality or enforceability of the
remainder hereof. This Note shall apply to and bind the successors of the
Borrower and shall inure to the benefit of the Lender, its successors and
assigns.

                  f.       This Note shall be governed by and interpreted in
accordance with the laws of the State of Tennessee.

         IN WITNESS WHEREOF, the Borrower has duly executed this Note as of the
day and year first set forth above.

                                                    /s/ Reynolds C. Faulkner
                                                    ------------------------
                                                    REYNOLDS C. FAULKNER

Accepted, Acknowledged and Agreed:

KIRKLAND'S, INC.

By: /s/ Robert E. Alderson
   --------------------------------------------
   Name: Robert E. Alderson
   Title: Chief Executive Officer and President

                                      -4-<PAGE>
                                                                   EXHIBIT 10.24

                             STOCK PLEDGE AGREEMENT

         THIS STOCK PLEDGE AGREEMENT (the "Agreement") is made this 4th day of
May 2002, by REYNOLDS C. FAULKNER (the "Obligor") in favor of KIRKLAND'S, INC.,
a Tennessee corporation (the "Secured Party").

                                   Background

                  A.       Contemporaneously herewith, the Obligor is borrowing
up to $717,000 from the Secured Party pursuant to a Term Note dated the date
hereof (as hereafter amended, modified or supplemented, the "Note").

                  B.       The Obligor is a director, an Executive Vice
President and the Chief Financial Officer of the Secured Party. In order to
secure the Obligor's obligations under the Note, the Obligor has agreed to
pledge and to grant to the Secured Party a security interest in and to (i)
certain marketable securities owned by the Obligor and (ii) all of the shares of
Common Stock of the Secured Party ("Common Stock") and all other securities of
the Secured Party owned or hereafter acquired by the Obligor.

         NOW, THEREFORE, the parties hereto, in consideration of the
consummation of the aforementioned loan by the Secured Party to the Obligor, and
intending to be legally bound hereby, agree as follows:

         1.       Pledge of Collateral.

                  1.1.     Pledge of Stock. To secure the payment of all amounts
due or to become due to the Secured Party under the Note (collectively the
"Indebtedness"), the Obligor hereby pledges to the Secured Party and grants to
the Secured Party a first lien on, and security interest in, the Collateral (as
hereinafter defined). In furtherance of this Agreement, the Obligor has entered
into that certain Collateral Assignment of Brokerage Account with Solomon Smith
Barney (the "Brokerage Firm") in favor of the Secured Party (the "Collateral
Assignment")

                  1.2.     Designation of Collateral. The term "Collateral" when
used herein shall include (i) marketable securities owned by the Obligor having
a Fair Market Value (as hereinafter defined) as of the date of this Agreement
equal to no less than the principal amount outstanding under the Note and (ii)
any shares of Common Stock and any other securities of the Secured Party now
owned or hereafter acquired by the Obligor, or in which the Obligor now has or
hereafter acquires any beneficial interest, together with any securities,
instruments or distributions of any kind issuable, issued or received upon
conversion of, in respect of, or in exchange or in substitution for any such
Collateral, including, but not limited to, those arising from a stock dividend,
stock split, reclassification, reorganization, merger, consolidation, sale of
assets or other exchange of securities, or any dividends, cash, property or
other distributions of any kind upon, with respect to, or in consequence of the
ownership of, the Collateral. In the event subscriptions, warrants, options or
other rights are issued in connection with any Collateral, such subscriptions,
warrants, options and rights shall be deemed to be part of the Collateral. The
term "Collateral" shall also include any additional Collateral delivered by the
Obligor to the Secured Party pursuant to Section 1.3 hereof. As used in this
Agreement, the term "Fair Market Value" shall mean, as of any date: (i) with
respect to the marketable securities, the

<PAGE>

closing price of such marketable securities as reported on the principal
national securities exchange(s) on which such marketable securities are traded
on such date, or if no price for such marketable securities are reported on such
date, the closing price of such securities on the last preceding date on which
there were reported prices for such securities; or (ii) with respect to
marketable securities that are not listed or admitted to unlisted trading
privileges on a national securities exchange, the closing price of such
securities as reported by The Nasdaq Stock Market on such date, or if no price
for such marketable securities are reported on such date, the closing price of
such securities on the last preceding date on which there were reported prices
for such securities; or (iii) with respect to any assets that are not marketable
securities traded on a national securities exchange or on The Nasdaq National
Stock Market, then the Fair Market Value shall be determined by the Secured
Party, acting in its discretion, which determination shall be conclusive.

                  1.3.     Delivery of Initial Collateral and Additional
Collateral. The Obligor has delivered, and by these presents does hereby
deliver, to the Secured Party the certificates representing the Collateral (the
"Certificates"), together with stock powers for the Certificates duly executed
in blank for transfer by the Obligor. The Obligor agrees that upon the
acquisition by the Obligor of any additional securities of the Secured Party
included in the definition of Collateral prior to the termination of this
Agreement, the Obligor shall deliver the Certificates representing such
securities, with stock powers duly endorsed for transfer, to the Secured Party
as additional Collateral to be held by the Secured Party pursuant to the terms
of this Agreement. The Obligor further agrees that, within 10 days after the
Secured Party's written request, he shall deliver additional collateral to the
Secured Party from time to time hereafter to be held pursuant to the terms of
this Agreement to the extent that the Fair Market Value of the Collateral held
by the Secured Party, together with all Collateral pledged pursuant to the
Collateral Assignment, falls below 125% of the principal amount then outstanding
under the Note; provided, however, to to the extent that the additional
collateral consists of marketable securities, the Obligor may subject such
marketable securities to the pledge under the Collateral Assignment though the
Brokerage Firm. Such additional collateral shall be in such form as shall be
reasonably acceptable to the Secured Party.

         2.       Additional Amounts Secured. In addition to the Obligor's
prompt and full repayment of the Indebtedness, the security interest and pledge
created hereby shall secure reimbursement to the Secured Party for: (i) all
costs and expenses incurred in collection of all amounts due to the Secured
Party from the Obligor, including without limitation, the costs of suit and
attorneys' fees in execution of this Agreement and the Note; (ii) prompt
performance by the Obligor of his obligations under the Note and this Agreement;
and (iii) interest on all of the foregoing at the rates set forth in the Note.

         3.       Covenants. Until the termination of this Agreement and the
security interest and pledge created hereby:

                  3.1.     The Obligor shall not, nor shall the Obligor permit,
without the prior written consent of the Secured Party, the sale, transfer,
pledge, hypothecation or other encumbrance, or the execution of an agreement
contemplating any of the foregoing for all or any part of the Collateral;

                                       -2-
<PAGE>

                  3.2.     The Obligor shall, at the Obligor's expense, defend
the Secured Party's right, title, special property and security interest in and
to the Collateral and the proceeds thereof; and

                  3.3.     In the event any of the Collateral ceases to be
certificated and is held by a financial intermediary in electronic form, the
Obligor agrees promptly to cause such financial intermediary to enter into a
control agreement satisfactory to the Secured Party and do all other acts and
things reasonably required by the Secured Party to perfect and maintain
perfected the security interest and pledge created hereby.

         4.       Representations and Warranties of the Obligor.

                  The Obligor hereby makes the following representations and
warranties to the Secured Party:

                  4.1.     Except for the security interest granted pursuant to
Section 1 hereof, all of the Collateral is owned by the Obligor, free and clear
of any and all options, claims, security interests, liens, pledges, encumbrances
and security interests, except that created herein; and

                  4.2.     The execution and delivery of this Agreement, the
consummation of the transactions provided for herein, and the fulfillment of the
terms hereof, will not result in the breach of any of the terms, conditions or
provisions of, or constitute a default under, or conflict with, or cause any
acceleration of any obligation under, any agreement or other instrument to which
the Obligor or the Secured Party is a party or by which either of them is bound,
or any provision of the Charter or Bylaws of the Secured Party, or any judgment,
decree, order or award of any court, governmental body or arbitrator or any
applicable law, rule or regulation.

         5.       Voting and Distributions Prior to Default.

                  5.1.     Voting. Prior to the occurrence of an Event of
Default hereunder, the Obligor shall have the right to vote the securities
constituting the Collateral owned by him; provided, however, that the Obligor
shall not in any event vote such securities in a manner which would cause or
constitute an Event of Default under this Agreement or under the Note or would
otherwise be inconsistent with any of the terms, conditions or provisions of
this Agreement or the Note.

                  5.2.     Distributions. Prior to the occurrence of an Event of
Default, the Obligor shall be entitled to receive directly from the Secured
Party all dividends, property and cash distributions with respect to, or in
consequence of the ownership of, the Collateral.

         6.       Default

                  6.1.     Events of Default. There shall be an "Event of
Default" for purposes of this Agreement if: (i) any "event of default" (as
defined therein) shall have occurred and be continuing under the Note; or (ii)
the Obligor shall fail to observe any agreement, condition, undertaking, or
covenant in this Agreement.

                                       -3-
<PAGE>

                  6.2.     Consequences of Default. Upon the occurrence of an
Event of Default, and until the termination of this Agreement:

                           6.2.1.   The Secured Party may notify the Obligor of
the occurrence of such Event of Default;

                           6.2.2.   The Secured Party shall be entitled to
receive and apply in payment of amounts payable by the Obligor under the Note
all dividends, property and cash distributions with respect to, or in
consequence of the ownership of, the Collateral;

                           6.2.3.   The Secured Party shall be entitled and
authorized to exercise in its discretion all voting rights, if any, pertaining
to the Collateral and in connection therewith, which authorization herein
granted shall be deemed an irrevocable power coupled with an interest;

                           6.2.4.   The Obligor shall take any action necessary
or required or requested by the Secured Party, in order to allow the Secured
Party fully to enforce the pledge of the security interest in and to the
Collateral hereunder and realize thereon to the fullest possible extent,
including but not limited to the filing of any claims with any court, liquidator
or trustee, custodian, receiver or other like person or party and the execution
of any dividend, payment or brokerage orders or proxies; and

                           6.2.5.   The Secured Party shall have all the rights
and remedies granted or available to it hereunder, under the Uniform Commercial
Code as in effect from time to time, under any other statute or the common law,
or under the Note, including the right to sell the Collateral or any portion
thereof at one or more public or private sales upon twenty (20) days' written
notice and to bid thereat or purchase any part or all thereof in its own or a
nominee's or nominees' names, free and clear of any equity of redemption; and to
apply the net proceeds of the sale, after deduction for any expenses of sale,
including the payment of all the Secured Party's reasonable attorneys' fees in
connection with the Indebtedness and the sale, to the payment of the
Indebtedness in any manner or order which the Secured Party in its sole
discretion may elect, without further notice to or consent of the Obligor and
without regard to any equitable principles of marshalling or other like
equitable doctrines. To the extent that the proceeds of such sale are
insufficient to satisfy all of the Indebtedness, the Obligor shall remain liable
for the amount of such deficiency.

         7.       Delay, Non-Waiver and Exclusive Remedies.

                  7.1.     Non-Exclusive Remedies. No remedy or right herein
conferred upon or reserved to the Secured Party is intended to be to the
exclusion of any other remedy or right, but each and every such remedy or right
shall be cumulative, and shall be in addition to every other remedy or right
given hereunder, and now or hereafter existing at law or in equity.

                  7.2.     Delay and Non-Waiver. No delay or omission by the
Secured Party to exercise any remedy or right accruing upon an Event of Default
shall impair any such remedy or right, or shall be construed to be a waiver of
any such Event of Default, or an acquiescence therein, nor shall it affect any
subsequent Event of Default of the same, or a different nature.

         8.       Indemnification. The Obligor shall defend, indemnify, and hold
harmless Secured

                                       -4-
<PAGE>

Party from and against any loss, liability, damage, or expense which the Secured
Party may incur as a result of the taking, holding, and/or disposing of the
Collateral and the Certificates, unless such loss, liability, damage, or expense
was caused by the gross negligence or willful misconduct of the Secured Party or
its agents.

         9.       Rights Retained by the Obligor. So long as no Event of Default
shall have occurred and be continuing hereunder or under the Note, the Obligor
shall retain and may exercise all rights of or incident to the ownership of the
Collateral.

         10.      Termination. This Agreement and the security interests and
pledge created hereby shall terminate on the payment in full by the Obligor of
all of the Indebtedness. Upon termination, the Secured Party shall forthwith
deliver to the Obligor the Certificates, with the stock powers therefor,
delivered by the Obligor to the Secured Party.

         11.      Strict Enforcement. The Secured Party shall at all times have
the right to enforce the provisions of this Agreement in strict accordance with
the terms hereof, notwithstanding any conduct or custom to the contrary. The
failure of the Secured Party at any time to enforce its rights hereunder shall
not be construed as having created a custom contrary to the provisions of this
Agreement, as having modified in any manner the terms hereof, or as having
prevented the Secured Party from thereafter enforcing strict compliance. All
rights and remedies of the Secured Party are cumulative and concurrent and the
exercise of one right or remedy shall not be deemed a waiver or release of any
other right or remedy.

         12.      Entire Agreement. This Agreement contains the entire
understanding of the parties hereto with respect to the subject matter contained
herein and supersedes all prior and contemporaneous agreements and
understandings, oral and written, with respect thereto.

         13.      Modification. This Agreement may be modified or amended only
by means of a writing signed by the party against whom such modification or
amendment is sought to be enforced.

         14.      Severability; Governing Law. If any provision of this
Agreement shall be determined to be illegal and unenforceable by any court of
law, the remaining provisions shall be severable and enforceable in accordance
with their terms. This Agreement shall be governed by, and construed in
accordance with, the laws of the State of Tennessee.

         15.      Benefits of Agreement. This Agreement shall be binding upon
and shall inure to the benefit of the parties and their respective heirs, legal
representatives, successors and assigns.

         16.      Counterparts. This Agreement may be signed in any number of
counterparts and by different parties on different counterparts, each of which
counterparts, when so executed and delivered, shall be deemed to be an original,
and all of which counterparts, taken together shall constitute but one and the
same agreement.

           [The remainder of this page is intentionally left blank.]

                                       -5-
<PAGE>

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

                                          SECURED PARTY

                                          KIRKLAND'S, INC.

                                          By: /s/ Robert. E. Alderson
                                             -------------------------------
                                             Name: Robert E. Alderson
                                             Title: Chief Executive Officer and
                                                    President

                                          OBLIGOR

                                          /s/ Reynolds C. Faulkner
                                          ----------------------------------
                                          REYNOLDS C. FAULKNER

                                       -6-

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