SETTLEMENT AGREEMENTSettlement Agreement • May 9th, 2008 • Circuit City Stores Inc • Retail-radio, tv & consumer electronics stores • New York
This settlement agreement (this “Agreement”) is made and entered into as of May 8, 2008, by and among Wattles Capital Management, LLC, a Delaware limited liability company, Mark J. Wattles, James A. Marcum, Elliott Wahle, Don R. Kornstein, Anthony Bergamo and Alexander M. Bond (the foregoing entity and individuals collectively, the “Wattles Group” and each individually, a “Member”) and Circuit City Stores, Inc., a Virginia corporation (the “Company”).
CIRCUIT CITY AND WATTLES CAPITAL MANAGEMENT REACH AGREEMENTManagement Reach Agreement • May 9th, 2008 • Circuit City Stores Inc • Retail-radio, tv & consumer electronics stores
Richmond, Va., May 9, 2008 - Circuit City Stores, Inc. (NYSE:CC) and Wattles Capital Management, LLC (“WCM”) today announced that they have reached an agreement under which Circuit City’s board of directors will select three of WCM’s director nominees and include them as nominees of the board at Circuit City’s 2008 Annual Meeting. In addition, one of the WCM nominees will become a member of the executive committee of the Circuit City board.
