July 1, 2013 Mr. Antonio Urcelay Spain
Exhibit 10.3
July 1, 2013
Xx. Xxxxxxx Xxxxxxx
Spain
Dear Antonio:
After the Company completes its obligation to compensate you for the non-competition obligation identified in your employment letter agreement, the Company shall continue to maintain your Annual Base Salary at no less than 582,000 Euros and shall not reduce this amount, unless it implements a general reduction in base salary or annual incentive compensation opportunities that affects all members of senior management of the Company proportionally.
Sincerely,
/s/ Xxxxxxx Xxxxx
Xxxxxxx Xxxxx
Vice Chair & EVP, Toys βRβ Us, Inc.
