Document:

Exhibit 10.4

       [Form of Award Letter for Performance Accelerated Restricted Stock]

                                                              __________, 20__

[Insert name and address]

Dear :

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

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

         No. Shares Performance Accelerated Restricted Stock:

         Grant Date:                [DATE]

         Final Vesting Date:        July 1, 2009

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

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

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

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

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

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

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

[SVP & Above Award Letters Only:
     On the final vesting date, if you are one of the Named  Executive  Officers
of the Company in the Proxy  Statement for the most recent  fiscal  year-end (as
defined by the SEC proxy rules then in effect),  then the following  performance
condition will apply to any shares under the award which are not yet vested: the
Company's  closing  stock  price on the final  vesting  date as  reported by the
exchange on which the Common Stock  generally  has the greatest  trading  volume
must equal or exceed $[GRANT DATE FMV + 10%, ROUNDED TO NEAREST WHOLE SHARE] per
share  (adjusted for stock  dividends,  stock splits,  combinations of shares or
other  recapitalizations  having like effects) for a minimum of five consecutive
trading days. If this performance  condition is not met, then the award will not
vest and will remain restricted for an additional period of three years,  during
which the award will vest if the  Company's  closing  stock price as reported by
the exchange on which the Common Stock generally has the greatest trading volume
equals or exceeds  $[GRANT DATE FMV + 10%,  ROUNDED TO NEAREST  WHOLE SHARE] per
share  (adjusted for stock  dividends,  stock splits,  combinations of shares or
other  recapitalizations  having like effects) for a minimum of five consecutive
trading days. If this performance  condition is not met within three years after
the final  vesting date,  then the shares  subject to this  performance  measure
shall be forfeited.

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

Other details about your award are:

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

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

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

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

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

     5. Miscellaneous.

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

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

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

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

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

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

                            [insert name and address]

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

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

                                   Sincerely,

                                   Senior Vice President
                                   Human Resources

ACCEPTED:

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

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

---------------
DateExhibit 10.5

              [Form of Award Letter for Retention Restricted Stock]

                                                                  ________, 20__

[Insert name and address]

Dear :

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

           No. of Shares of Restricted Stock Granted:                    ______

           Grant Date:  [DATE]

           On July 1, 2009, 100% of the total shares granted shall vest.

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

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

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

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

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

[SVP & Above Award Letters Only:
     On the final vesting date, if you are one of the Named  Executive  Officers
of the Company in the Proxy  Statement for the most recent  fiscal  year-end (as
defined by the SEC proxy rules then in effect),  then the following  performance
condition will apply to any shares under the award which are not yet vested: the
Company's  closing  stock  price on the final  vesting  date as  reported by the
exchange on which the Common Stock  generally  has the greatest  trading  volume
must equal or exceed $[GRANT DATE FMV + 10%, ROUNDED TO NEAREST WHOLE SHARE] per
share  (adjusted for stock  dividends,  stock splits,  combinations of shares or
other  recapitalizations  having like effects) for a minimum of five consecutive
trading days. If this performance  condition is not met, then the award will not
vest and will remain restricted for an additional period of three years,  during
which the award will vest if the  Company's  closing  stock price as reported by
the exchange on which the Common Stock generally has the greatest trading volume
equals or exceeds  $[GRANT DATE FMV + 10%,  ROUNDED TO NEAREST  WHOLE SHARE] per
share  (adjusted for stock  dividends,  stock splits,  combinations of shares or
other  recapitalizations  having like effects) for a minimum of five consecutive
trading days. If this performance  condition is not met within three years after
the final  vesting date,  then the shares  subject to this  performance  measure
shall be forfeited.

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

     Other details about your award are:

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

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

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

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

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

     5. Miscellaneous.

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

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

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

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

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

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

                            [insert name and address]

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

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

                                   Sincerely,

                                   Senior Vice President
                                   Human Resources

ACCEPTED:

Associate Signature

Printed Name

Date

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