Pier 1 2011 Annual Report Download - page 136

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Name
Voluntary
Termination
($)
Early
Retirement
($)
Voluntary
Good
Reason
Termination
($)
Involuntary
Without
Cause
Termination
($)
For Cause
Termination
($)
Change
in
Control
($)
Death
($)
Disability
($)
Alexander W. Smith
Employment Agreement
Compensation/
Benefits $ 0 N/A $3,517,500(13) $3,517,500(13) $0 $3,816,321(13)$ 0 $ 616,875(13)
Supplemental
Retirement Plan(1)
Benefit Payment $5,976,768 $5,976,768 $5,976,768 $5,976,768 $0 $8,978,035 $2,870,404 $13,775,562
Insurance Premiums $ 585,654 $ 585,654 $ 585,654 $ 585,654 $0 $ 585,654 $ 0 $ 585,654
Restricted Stock Awards
Time-based $ 0(2) N/A(3) $3,667,500(13) $3,667,500(13) $0(2) $ 0(5) $ 0(6) $ 0(6)
Performance-based $ 0(2) N/A(3) $1,833,750(13) $1,833,750(13) $0(2) $ 0(5) $ 0(6) $ 0(6)
Charles H. Turner
Supplemental
Retirement Plan(1)
Benefit Payment $3,798,215 N/A $3,798,215 $3,798,215 $0 $7,558,200 $2,956,285 $ 3,694,524
Insurance Premiums $ 0 N/A $ 0 $ 0 $0 $ 812,361 $ 0 $ 812,361
Restricted Stock Awards
Time-based $ 0(2) N/A(3) $ 0(2) $ 460,638(4) $0(2) $ 460,638(5) $ 460,638(6) $ 460,638(6)
Performance-based $ 0(2) N/A(3) $ 0(2) $ 234,720(4) $0(2) $ 234,720(5) $ 234,720(6) $ 234,720(6)
Stock Options $ 0(7) N/A(8) $ 0(7) $ 0(9) $0(10) $ 82,575(11)$ 82,575(12)$ 82,575(12)
Catherine David
Restricted Stock Awards
Time-based $ 0(2) N/A(3) $ 0(2) $ 176,040(4) $0(2) $ 176,040(5) $ 176,040(6) $ 176,040(6)
Performance-based $ 0(2) N/A(3) $ 0(2) $ 0(4) $0(2) $ 176,040(5) $ 0(6) $ 0(6)
Gregory S. Humenesky
Supplemental
Retirement Plan(1)
Benefit payment $ 445,172 N/A $ 445,172 $ 445,172 $0 $1,265,940 $ 527,553 $ 2,422,056
Insurance Premiums $ 0 N/A $ 0 $ 0 $0 $ 514,413 $ 0 $ 514,413
Restricted Stock Awards
Time-based $ 0(2) N/A(3) $ 0(2) $ 172,128(4) $0(2) $ 172,128(5) $ 172,128(6) $ 172,128(6)
Performance-based $ 0(2) N/A(3) $ 0(2) $ 0(4) $0(2) $ 122,250(5) $ 0(6) $ 0(6)
Stock Options $ 0(7) N/A(8) $ 0(7) $ 0(9) $0(10) $ 82,575(11)$ 82,575(12)$ 82,575(12)
Sharon M. Leite
Restricted Stock Awards
Time-based $ 0(2) N/A(3) $ 0(2) $ 201,468(4) $0(2) $ 201,468(5) $ 201,468(6) $ 201,468(6)
Performance-based $ 0(2) N/A(3) $ 0(2) $ 0(4) $0(2) $ 151,590(5) $ 0(6) $ 0(6)
Stock Options $ 0(7) N/A(8) $ 0(7) $ 0(9) $0(10) $ 78,900(11)$ 78,900(12)$ 78,900(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 Supplemental Retirement 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), on February 26, 2011, and that
such date is within 24 months of a change in control (as defined in the plan) of Pier 1 Imports.
(2) Generally, under grant agreements pursuant to the 2006 plan termination of employment for any reason results in a
forfeiture to Pier 1 Imports of all unvested restricted stock awards. However, as discussed in footnote 13 below, all
shares of Mr. Smith’s restricted stock awards granted pursuant to his employment agreement vest in the event of a
voluntary good reason termination or an involuntary without cause termination. The amounts shown in the table
assume that the acceleration of vesting discussed in footnote 4 or 5 below does not occur upon a voluntary termination
of employment.
(3) Under the 2006 plan the administrative 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. 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
52