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<title>Toys &quot;R&quot; Us, Inc. Form 8-K June 29, 2006</title>
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<p align="center"><b><font size="3">UNITED STATES<br />
SECURITIES AND EXCHANGE COMMISSION<br />
Washington, D.C.&nbsp;&nbsp;20549<br />
</font></b></p>

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<p align="center"><b><font size="3"><br />
</font><font size="5">FORM 8-K</font><br />
<br />
<br />
CURRENT REPORT<br />
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934<br />
<br />
</b></p>

<p align="center"><font size="3">Date of report (Date of earliest event reported): &nbsp;&nbsp;June
29, 2006 (June 28, 2006)</font></p>

<p align="center">&nbsp;</p>

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<p align="center"><b><u><font size="5">TOYS &ldquo;R&rdquo; US, INC.</font></u></b></p>
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<td colspan="5" valign="bottom" width="597">
<p align="center"><font size="2">(Exact Name of Registrant as Specified in Charter)</font></p>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p align="center"><b><u><font size="3">&nbsp;&nbsp; Delaware&nbsp;&nbsp;&nbsp;</font></u></b></p>
</td>
<td valign="bottom" width="16"></td>
<td valign="bottom" width="164">
<p align="center"><b><u><font size="3">&nbsp;&nbsp; 1-11609&nbsp;&nbsp;&nbsp;</font></u></b></p>
</td>
<td valign="bottom" width="36"></td>
<td valign="bottom" width="189">
<p align="center"><b><u><font size="3">&nbsp;&nbsp; 22-3260693&nbsp;&nbsp;&nbsp;</font></u></b></p>
</td>
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<p align="center"><font size="1">(State or Other Jurisdiction<br />
 of Incorporation or Organization)</font></p>
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<td valign="bottom" width="16"></td>
<td valign="bottom" width="164">
<p align="center"><font size="1">(Commission<br />
 File Number)</font></p>
</td>
<td valign="bottom" width="36"></td>
<td valign="bottom" width="189">
<p align="center"><font size="1">(IRS Employer<br />
 Identification Number)</font></p>
</td>
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<td valign="bottom" width="205">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="bottom" width="189">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<td colspan="5" valign="bottom" width="614">
<p align="center"><b><font size="3"><u>&nbsp;&nbsp;&nbsp;&nbsp; One Geoffrey
Way, Wayne, New Jersey
07470&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></b></p>
</td>
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<td colspan="5" valign="bottom" width="614">
<p align="center"><font size="2">(Address of Principal Executive Offices,
including Zip Code)</font></p>
</td>
</tr>

<tr>
<td valign="bottom" width="205">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<td colspan="5" valign="bottom" width="616">
<p align="center"><b><u><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(973) 617-3500&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u></b></p>
</td>
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<tr>
<td colspan="5" valign="bottom" width="616" align="center"><font size="2">Registrant's
  Telephone Number, including
  Area Code</font></td>
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<tr>
<td valign="bottom" width="205">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="bottom" width="189">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
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<td colspan="5" valign="bottom" width="597">
<p align="center"><font size="3"><u><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Not
Applicable&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b></u></font></p>
</td>
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<td colspan="5" valign="bottom" width="597">
<p align="center"><font size="2">(Former Name or Former Address, if Changed
Since Last Report)</font></p>
</td>
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<tr>
<td colspan="5" valign="bottom" width="597"><br>
</td>
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</table>
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      <td width="100%">
        <p align="left"><font size="2">Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy
        the filing obligation&nbsp;<br>
 of the registrant under any of the following provisions (see General
        Instruction A.2. below):</font></p>
        <p align="left"><font size="2">[&nbsp;&nbsp;] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
        [&nbsp;&nbsp;] Soliciting material pursuant to Rule 14a-12 under the
        Exchange Act (17 CFR 240.14a-12)<br>
        [&nbsp;&nbsp;] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
        [&nbsp;&nbsp;] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></td>
    </tr>
  </table>
  </center>
</div>

<p align="center">&nbsp;</p>

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<p>&nbsp;</p>

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<p><b><font size="3">Item 1.01.</font></b></p>
</td>
<td valign="top" width="6" height="21"></td>
<td valign="top" width="52" height="21"></td>
<td valign="top" width="836" height="21">
<p><b>Entry into a Material Definitive Agreement.</b></p>
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<tr>
<td valign="top" width="81" height="1"></td>
<td valign="top" width="6" height="1"></td>
<td valign="top" width="52" height="1"></td>
<td valign="top" width="836" height="1">&nbsp;
  <p>Employment Agreement with Ronald D. Boire.</p>
  <p>On June 28, 2006, the Toys &quot;R&quot; Us, Inc. (the &quot;Company&quot;)
  entered into an Employment Agreement with Ronald D. Boire pursuant to which he
  will serve as Executive Vice President of the Company and President of Toys
  &quot;R&quot; Us&nbsp; U.S. division, beginning on or about July 17, 2006.</p>
  <p>The employment agreement provides for an initial term of five years, and
  provides for automatic one-year renewals unless expressly not renewed at least
  60 days before the next renewal date. Mr. Boire's agreement provides for an
  annual base salary of $750,000, which base salary may be increased at the
  discretion of the board of directors or a committee thereof (the
  &quot;board&quot;). The agreement provides a target annual bonus opportunity
  of up to 130% of his annual base salary, which bonus is payable upon
  achievement of performance targets established annually by the board and
  pursuant to the terms of the Company's incentive plan and may be paid at
  above-target levels for above-target performance. Mr. Boire is also eligible
  to participate in the Company's welfare benefit and retirement plans, and is
  subject to the Company's policies with respect to perquisites and business
  expense reimbursement, on the same basis as other senior executives. Mr. Boire
  will also receive a one-time &quot;sign-on&quot; bonus of $750,000, which must
  be repaid to the Company in full in the event his employment is terminated by
  the Company for cause or by him without good reason before the second
  anniversary of the hire date. In addition, Mr. Boire will be reimbursed for
  certain expenses incurred in relocating to the Wayne, New Jersey area and up
  to $5,000 in legal expenses incurred in connection his negotiation of the
  employment agreement.</p>
  <p>Under his employment agreement, if Mr. Boire's employment is terminated by
  the Company without &quot;cause&quot; or by him for &quot;good reason&quot;
  (as those terms are defined in the agreement), he will be entitled to receive:</p>
  <ul>
    <li>
      <p style="margin-bottom: 5">certain rights accrued through the date of termination, including salary
  and prior year's earned but unpaid bonus,</li>
    <li>
      <p style="margin-bottom: 5">a pro-rated portion of his current year's annual bonus through the date
  of termination, based on actual results for the whole year,</li>
    <li>
      <p style="margin-bottom: 5">a severance payment equal to the sum of (x) the Severance Period
  (described below), as expressed in years) multiplied by his base salary, and
  (y) one times the amount of the annual bonus received by him in the prior
  fiscal year. The &quot;Severance Period&quot; is initially a 12-month period
  commencing on his date of termination, and is increased by three months on
  each anniversary of the hire date, up to a maximum of 24 months.</li>
    <li>
      <p style="margin-bottom: 5">continued coverage during the Severance Period under the Company's
  medical, dental and life insurance plans.</li>
  </ul>
  <p>As a condition to receiving the severance payment and the pro-rated portion
  of his current year's annual bonus through the date of termination under the
  agreement, Mr. Boire must execute a release of claims in respect of his
  employment with the Company. The agreement provides that Mr. Boire will be
  subject to a covenant not to compete and a covenant not to solicit employees,
  consultants, suppliers or service providers at all times while employed and
  for up to two years after his termination of employment, and a covenant not to
  disclose confidential information during the employment term and at all times
  thereafter.</p>
  <p>Pursuant to the terms of his employment agreement, Mr. Boire will be
  granted restricted stock in the form of strips of securities containing nine
  shares of Class A common stock and one share of Class L common stock (each, a
  &quot;Common Strip&quot;) of Toys &quot;R&quot; Us Holdings, Inc., the
  Company's parent company (&quot;Holdings&quot;), with an aggregate fair market
  value equal to $1,100,000 as of the grant date. For purposes of calculating
  the number of Common Strips in such award, the value per Common Strip will be
  equal to the greater of (i) the sum of the aggregate fair market value of each
  class of the underlying stock on the date of the employment agreement (i.e.,
  $26.75) and (ii) the sum of the aggregate fair market value of each class of
  the underlying stock on the date of grant (such greater amount, the
  &quot;Determined Value&quot;). The restricted stock award will be granted
  under, and pursuant to the terms and conditions of, the Toys &quot;R&quot; Us
  Holdings, Inc. 2005 Management Equity Plan (the &quot;Plan&quot;), and will
  vest as to 50% of the Common Strips on the first anniversary of the grant date
  and as to 50% of the Common Strips on the second anniversary of the grant
  date, provided that Mr. Boire is still employed by the Company or any of its
  affiliates as of such respective dates. The restricted stock is also subject
  to certain transfer restrictions, as well as a put right exercisable in
  certain circumstances by Mr. Boire and a call right exercisable by Holdings
  (and, if not exercised by Holdings, by Holdings' equity sponsors - Bain
  Capital Partners LLC, Toybox Holdings, LLC and Vornado Truck, LLC) in the
  event that Mr. Boire is no longer employed by Holdings or any of its
  subsidiaries.</p>
  <p>In addition, Holdings will grant to Mr. Boire, under and pursuant to the
  Plan, options to acquire 337,812 Common Strips of Holdings common stock. The
  purchase price per Common Strip for the options will be equal to the
  Determined Value (described above). The options will be granted in three equal
  tranches. The first tranche consists of &quot;time-vesting options&quot; that
  vest and become exercisable ratably over a five year period, and the second
  and third tranches consist of &quot;performance and time-vesting options&quot;
  that vest and become exercisable over the same period as the
  &quot;time-vesting options&quot; and upon the achievement of certain
  performance targets set forth in the Plan. However, all time-vesting options
  will become fully vested on a change in control (as defined in the Plan) and
  the performance and time-vesting options will become fully vested on the
  eighth anniversary of the date of grant even if the performance targets have
  not been achieved, provided that Mr. Boire is still employed through such
  date.</p>
  <p>A copy of Mr. Boire's Employment Agreement is attached hereto as Exhibit
  10.1 and is incorporated herein by reference.</p>
  <p>Mr. Boire, 45, served as Executive Vice President - General Merchandise
  Manager for Best Buy since June 2003. Prior to that, Mr. Boire spent 17 years
  at Sony Corporation where he held various executive, sales and
  marketing positions, most recently as President of Sony Electronics Consumer
  Sales Co. and President - Sony Personal Mobile Products Co.</p>
  <p>Amendment to the Plan</p>
  <p>On June 28, 2006, the Executive Committee of the Board of Directors of
  Holdings amended the Plan to it clarify that the Executive Committee has the
  authority to deviate from certain standard terms in individual award
  agreements and to grant restricted stock under the Plan as an incentive for
  future services and without other consideration. A copy of such Amendment No.
  2 to the Plan is attached hereto as Exhibit 10.2 and is incorporated herein by
  reference.
  <p>&nbsp;&nbsp;</td>
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<tr>
<td valign="top" width="81" height="68"><b>Item 9.01.</b>
  <p><u>Exhibit No.</u></p>
  <p>10.1</p>
  <p>10.2</td>
<td valign="top" width="6" height="68"></td>
<td valign="top" width="52" height="68"></td>
<td valign="top" width="836" height="68">
<p><b>Financial Statements and Exhibits</b></p>
<p><u>Description</u></p>
<p>Employment Agreement with Ronald D. Boire, dated as of June 28, 2006.</p>
<p>Amendment No. 2 to Toys &quot;R&quot; Us Holdings, Inc. 2005 Management
Equity Plan</p>
<p>&nbsp;</p>
</td>
</tr>

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<p align="center">&nbsp;</p>

<p align="center"><b><font size="3">SIGNATURE</font></b></p>

<p>Pursuant to the requirements of the Securities Exchange Act of l934, as
amended, the registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.</p>

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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
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<p align="left"><b><u><font size="3">Toys &ldquo;R&rdquo; Us, Inc.</font></u></b></p>
</td>
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<tr>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top">
<p align="center"><font size="3">(Registrant)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<tr>
<td valign="top">
<p align="center"><font size="3">Date:</font> &nbsp;&nbsp;June 29, 2006</p>
</td>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
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<p><font size="3">By:&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top">
<p><u><font size="3">/s/ F. Clay Creasey, Jr.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u></p>
</td>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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Name:&nbsp;&nbsp;&nbsp;
</td>
<td valign="top">
<p><font size="3">F. Clay Creasey, Jr.</font></p>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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Title:
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<p><font size="3">Executive Vice President -</font></p>
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<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p><font size="3">Chief Financial Officer</font></p>
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Toys "R" Us, Inc. Form 8-K June 29, 2006
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported):   June
29, 2006 (June 28, 2006)
TOYS "R" US, INC.
(Exact Name of Registrant as Specified in Charter)
Delaware
1-11609
22-3260693
(State or Other Jurisdiction
of Incorporation or Organization)
(Commission
File Number)
(IRS Employer
Identification Number)
One Geoffrey
Way, Wayne, New Jersey
07470
(Address of Principal Executive Offices,
including Zip Code)
(973) 617-3500
Registrant's
  Telephone Number, including
  Area Code
Not
Applicable
(Former Name or Former Address, if Changed
Since Last Report)
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy
        the filing obligation
of the registrant under any of the following provisions (see General
        Instruction A.2. below):
[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ] Soliciting material pursuant to Rule 14a-12 under the
        Exchange Act (17 CFR 240.14a-12)
[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01.
Entry into a Material Definitive Agreement.
Employment Agreement with Ronald D. Boire.
On June 28, 2006, the Toys "R" Us, Inc. (the "Company")
  entered into an Employment Agreement with Ronald D. Boire pursuant to which he
  will serve as Executive Vice President of the Company and President of Toys
  "R" Us  U.S. division, beginning on or about July 17, 2006.
The employment agreement provides for an initial term of five years, and
  provides for automatic one-year renewals unless expressly not renewed at least
  60 days before the next renewal date. Mr. Boire's agreement provides for an
  annual base salary of $750,000, which base salary may be increased at the
  discretion of the board of directors or a committee thereof (the
  "board"). The agreement provides a target annual bonus opportunity
  of up to 130% of his annual base salary, which bonus is payable upon
  achievement of performance targets established annually by the board and
  pursuant to the terms of the Company's incentive plan and may be paid at
  above-target levels for above-target performance. Mr. Boire is also eligible
  to participate in the Company's welfare benefit and retirement plans, and is
  subject to the Company's policies with respect to perquisites and business
  expense reimbursement, on the same basis as other senior executives. Mr. Boire
  will also receive a one-time "sign-on" bonus of $750,000, which must
  be repaid to the Company in full in the event his employment is terminated by
  the Company for cause or by him without good reason before the second
  anniversary of the hire date. In addition, Mr. Boire will be reimbursed for
  certain expenses incurred in relocating to the Wayne, New Jersey area and up
  to $5,000 in legal expenses incurred in connection his negotiation of the
  employment agreement.
Under his employment agreement, if Mr. Boire's employment is terminated by
  the Company without "cause" or by him for "good reason"
  (as those terms are defined in the agreement), he will be entitled to receive:
certain rights accrued through the date of termination, including salary
  and prior year's earned but unpaid bonus,
a pro-rated portion of his current year's annual bonus through the date
  of termination, based on actual results for the whole year,
a severance payment equal to the sum of (x) the Severance Period
  (described below), as expressed in years) multiplied by his base salary, and
  (y) one times the amount of the annual bonus received by him in the prior
  fiscal year. The "Severance Period" is initially a 12-month period
  commencing on his date of termination, and is increased by three months on
  each anniversary of the hire date, up to a maximum of 24 months.
continued coverage during the Severance Period under the Company's
  medical, dental and life insurance plans.
As a condition to receiving the severance payment and the pro-rated portion
  of his current year's annual bonus through the date of termination under the
  agreement, Mr. Boire must execute a release of claims in respect of his
  employment with the Company. The agreement provides that Mr. Boire will be
  subject to a covenant not to compete and a covenant not to solicit employees,
  consultants, suppliers or service providers at all times while employed and
  for up to two years after his termination of employment, and a covenant not to
  disclose confidential information during the employment term and at all times
  thereafter.
Pursuant to the terms of his employment agreement, Mr. Boire will be
  granted restricted stock in the form of strips of securities containing nine
  shares of Class A common stock and one share of Class L common stock (each, a
  "Common Strip") of Toys "R" Us Holdings, Inc., the
  Company's parent company ("Holdings"), with an aggregate fair market
  value equal to $1,100,000 as of the grant date. For purposes of calculating
  the number of Common Strips in such award, the value per Common Strip will be
  equal to the greater of (i) the sum of the aggregate fair market value of each
  class of the underlying stock on the date of the employment agreement (i.e.,
  $26.75) and (ii) the sum of the aggregate fair market value of each class of
  the underlying stock on the date of grant (such greater amount, the
  "Determined Value"). The restricted stock award will be granted
  under, and pursuant to the terms and conditions of, the Toys "R" Us
  Holdings, Inc. 2005 Management Equity Plan (the "Plan"), and will
  vest as to 50% of the Common Strips on the first anniversary of the grant date
  and as to 50% of the Common Strips on the second anniversary of the grant
  date, provided that Mr. Boire is still employed by the Company or any of its
  affiliates as of such respective dates. The restricted stock is also subject
  to certain transfer restrictions, as well as a put right exercisable in
  certain circumstances by Mr. Boire and a call right exercisable by Holdings
  (and, if not exercised by Holdings, by Holdings' equity sponsors - Bain
  Capital Partners LLC, Toybox Holdings, LLC and Vornado Truck, LLC) in the
  event that Mr. Boire is no longer employed by Holdings or any of its
  subsidiaries.
In addition, Holdings will grant to Mr. Boire, under and pursuant to the
  Plan, options to acquire 337,812 Common Strips of Holdings common stock. The
  purchase price per Common Strip for the options will be equal to the
  Determined Value (described above). The options will be granted in three equal
  tranches. The first tranche consists of "time-vesting options" that
  vest and become exercisable ratably over a five year period, and the second
  and third tranches consist of "performance and time-vesting options"
  that vest and become exercisable over the same period as the
  "time-vesting options" and upon the achievement of certain
  performance targets set forth in the Plan. However, all time-vesting options
  will become fully vested on a change in control (as defined in the Plan) and
  the performance and time-vesting options will become fully vested on the
  eighth anniversary of the date of grant even if the performance targets have
  not been achieved, provided that Mr. Boire is still employed through such
  date.
A copy of Mr. Boire's Employment Agreement is attached hereto as Exhibit
  10.1 and is incorporated herein by reference.
Mr. Boire, 45, served as Executive Vice President - General Merchandise
  Manager for Best Buy since June 2003. Prior to that, Mr. Boire spent 17 years
  at Sony Corporation where he held various executive, sales and
  marketing positions, most recently as President of Sony Electronics Consumer
  Sales Co. and President - Sony Personal Mobile Products Co.
Amendment to the Plan
On June 28, 2006, the Executive Committee of the Board of Directors of
  Holdings amended the Plan to it clarify that the Executive Committee has the
  authority to deviate from certain standard terms in individual award
  agreements and to grant restricted stock under the Plan as an incentive for
  future services and without other consideration. A copy of such Amendment No.
  2 to the Plan is attached hereto as Exhibit 10.2 and is incorporated herein by
  reference.
Item 9.01.
Exhibit No.
10.1
10.2
Financial Statements and Exhibits
Description
Employment Agreement with Ronald D. Boire, dated as of June 28, 2006.
Amendment No. 2 to Toys "R" Us Holdings, Inc. 2005 Management
Equity Plan
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of l934, as
amended, the registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
Toys "R" Us, Inc.
(Registrant)
Date:
June 29, 2006
By:
/s/ F. Clay Creasey, Jr.
Name:
F. Clay Creasey, Jr.
Title:
Executive Vice President -
Chief Financial Officer