Pier 1 2007 Annual Report Download - page 98

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Name Grant Date Expiration Date Exercise Price
Aggregate Number
of Outstanding
Stock Options
(Exercisable)
Terry E. London ..................... 06/23/2006 06/23/2016 $ 7.5500 6,000
07/01/2005 07/01/2015 $14.2500 6,000
06/28/2004 06/28/2014 $17.2500 6,000
09/25/2003 09/25/2013 $19.4000 5,000
Total ............................ 23,000
Tom M. Thomas ..................... 06/23/2006 06/23/2016 $ 7.5500 6,000
07/01/2005 07/01/2015 $14.2500 6,000
06/27/2003 06/27/2013 $20.3500 6,000
06/28/2002 06/28/2012 $21.0000 6,000
Total ............................ 24,000
Effective March 4, 2007, the board amended and restated Pier 1’s non-employee director compensation
plan. Pursuant to the amended and restated plan, each non-employee director will receive an annual cash
retainer of $150,000. In addition, the audit committee chairman and compensation committee chairman will
each receive an annual retainer of $25,000; the nominating and corporate governance committee chairman will
receive an annual retainer of $10,000; and the non-executive chairman of the board will receive an annual
retainer of $75,000 (effective February 19, 2007). The annual retainers are payable monthly. Under the
amended and restated plan, non-employee directors will no longer receive stock option grants or meeting fees.
Each non-employee director will continue to participate in Pier 1’s Director Deferred Stock Unit Program
described above. Pursuant to the amended and restated plan, each non-employee director, effective January 1,
2008, will be permitted to defer all or any portion of his or her director, committee chairman and chairman
annual retainers into an equivalent value of DSU’s. Also, pursuant to the amended and restated plan, deferrals
of the director annual retainer, but not the committee chairman or chairman annual retainers, will receive a
25% Pier 1 match on the deferred amount.
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