Pier 1 2009 Annual Report Download - page 158

Involuntary
Voluntary Without Change
Voluntary Early Good Reason Cause For Cause in
Termination Retirement Termination Termination Termination Control Death Disability
($) ($) ($) ($) ($) ($) ($) ($)
Alexander W. Smith
Employment Agreement
Compensation/Benefits . $ 0 N/A $1,050,000(13) $1,050,000(13) $0 $ 0 $ 0 $ 262,500(13)
Supplemental Retirement
Plan(1)
Benefit Payment ..... $3,898,573 $3,898,573 $3,898,573 $3,898,573 $0 $7,008,595 $1,871,117 $13,104,479
Insurance Premiums . . $ 189,703 $ 189,703 $ 189,703 $ 189,703 $0 $ 189,703 $ 0 $ 189,703
Stock Options ....... $ 0 N/A $ 0(13) $ 0(13) $0 $ 0 $ 0 $ 0(13)
Charles H. Turner
Supplemental Retirement
Plan(1)
Benefit Payment ..... $2,510,223 N/A $2,510,223 $2,510,223 $0 $6,194,987 $2,285,479 $ 3,275,670
Insurance Premiums . . $ 0 N/A $ 0 $ 0 $0 $ 254,610 $ 0 $ 254,610
Restricted Stock Awards
Time-based ....... $ 0(2) N/A(3) $ 0(2) $ 5,624(4) $0(2) $ 5,624(5) $ 5,624(6) $ 5,624(6)
Performance-based(14) . $ 0(2) N/A(3) $ 0(2) $ 2,520(4) $0(2) $ 2,520(5) $ 2,520(6) $ 2,520(6)
Stock Options ....... $ 0(7) N/A(8) $ 0(7) $ 0(9) $0(10) $ 0(11) $ 0(12) $ 0(12)
Gregory S. Humenesky
Supplemental Retirement
Plan(1)
Benefit payment ..... $ 79,891 N/A $ 79,891 $ 79,891 $0 $ 462,506 $ 181,494 $ 1,615,579
Insurance Premiums . . $ 0 N/A $ 0 $ 0 $0 $ 180,955 $ 0 $ 180,955
Restricted Stock Awards
Time-based ....... $ 0(2) N/A(3) $ 0(2) $ 5,624(4) $0(2) $ 5,624(5) $ 5,624(6) $ 5,624(6)
Performance-based(14) . $ 0(2) N/A(3) $ 0(2) $ 2,520(4) $0(2) $ 2,520(5) $ 2,520(6) $ 2,520(6)
Stock Options ....... $ 0(7) N/A(8) $ 0(7) $ 0(9) $0(10) $ 0(11) $ 0(12) $ 0(12)
Jay R. Jacobs
Supplemental Retirement
Plan(1)
Benefit payment ..... $2,997,808 N/A $2,997,808 $2,997,808 $0 $6,465,104 $2,501,790 $ 3,042,992
Insurance Premiums . . $ 0 N/A $ 0 $ 0 $0 $ 235,813 $ 0 $ 235,813
Restricted Stock Awards
Time-based ....... $ 0(2) N/A(3) $ 0(2) $ 5,624(4) $0(2) $ 5,624(5) $ 5,624(6) $ 5,624(6)
Performance-based(14) . $ 0(2) N/A(3) $ 0(2) $ 2,520(4) $0(2) $ 2,520(5) $ 2,520(6) $ 2,520(6)
Stock Options ....... $ 0(7) N/A(8) $ 0(7) $ 0(9) $0(10) $ 0(11) $ 0(12) $ 0(12)
Sharon M. Leite
Restricted Stock Awards
Time-based ....... $ 0(2) N/A(3) $ 0(2) $ 3,994(4) $0(2) $ 3,994(5) $ 3,994(6) $ 3,994(6)
Stock Options ....... $ 0(7) N/A(8) $ 0(7) $ 0(9) $0(10) $ 0(11) $ 0(12) $ 0(12)
(1) The amounts shown for voluntary termination, voluntary good reason termination, and involuntary without cause
termination represent the present value of the lump-sum amount of the actuarial equivalent of the termination benefit for
each participating named executive officer, other than Mr. Smith, under the indicated plan which is payable at age 65. For
Mr. Smith, the amounts shown represent a lump-sum amount of the actuarial equivalent of his benefit under the plan given
his eligibility for early retirement under the plan. The amount shown for change in control represents the present value of
the lump-sum amount of the actuarial equivalent of the benefits for each participating named executive officer assuming the
executive officer is involuntarily terminated other than for cause, or leaves the employment of Pier 1 Imports for good
reason (as defined in the plan), within 24 months of a change in control (as defined in the plan) of Pier 1 Imports.
(2) Under grant agreements pursuant to the Pier 1 Imports, Inc. 2006 Stock Incentive Plan (‘‘2006 Plan’’) termination of
employment for any reason results in a forfeiture to Pier 1 Imports of all unvested restricted stock awards. The amounts
shown in the table assume that the vesting acceleration discussed in footnote 4 or 5 below does not occur upon a voluntary
termination of employment.
(3) Under the 2006 Plan, the plan’s administrative committee (‘‘Committee’’) may, in its discretion, notwithstanding the grant
agreement, upon a participant’s retirement fully vest any and all Pier 1 Imports’ common stock awarded pursuant to a
restricted stock award. It is not the normal policy of the Committee to fully vest or accelerate restricted stock awards upon
a participant’s retirement. Although the plan does not define retirement, for the purposes of this table, eligibility for early
retirement assumes attainment of age 55 plus 15 years of service with Pier 1 Imports, and eligibility for normal retirement
assumes age 65 regardless of years of service. These are the same parameters for early retirement and normal retirement
used in Pier 1 Imports’ stock option grants. Messrs. Turner, Humenesky and Jacobs and Ms. Leite, given their ages of 52,
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