Pier 1 2014 Annual Report Download - page 128

EXECUTIVE COMPENSATION
Mr. Smith’s employment agreement contains non-solicitation and non-competition terms binding Mr. Smith for one year following
termination of employment. Additionally, stock option grants under the Pier 1 Imports, Inc. 1999 Stock Plan and the Pier 1
Imports, Inc. 2006 Stock Incentive Plan are subject to certain non-competition, non-solicitation and confidentiality agreements
that if violated by an optionee during employment, or within three years after termination of employment in the event of early
retirement, will result in termination of the option grant.
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 $ 2,500,000 (7) $ 2,500,000 (7) $0 $ 0 (7) $ 0 $ 312,500 (7)
Supplemental
Retirement Plan (1)
Benefit Payment $15,230,725 $15,230,725 $15,230,725 $15,230,725 $0 $18,448,391 $7,277,882 $22,297,448
Insurance Premiums $ 358,972 $ 358,972 $ 358,972 $ 358,972 $0 $ 358,972 $ 0 $ 358,972
Restricted Stock
Awards
Time-based $ 0 (2) N/A (3) $ 3,452,900 (7) $ 3,452,900 (7) $0 (2) $0
(5) $0 (6) $0 (6)
Performance-based
Profit Goal Shares $ 0 (2) N/A (3) $ 5,817,900 (7) $ 5,817,900 (7) $0 (2) $0
(5) $0 (6) $0 (6)
TSR Shares $ 0 (2) N/A (3) $ 1,419,000 (7) $ 1,419,000 (7) $0 (2) $0
(5) $0 (6) $0 (6)
Charles H. Turner
Supplemental
Retirement Plan (1)
Benefit Payment $ 5,724,742 $ 5,724,742 $ 5,724,742 $ 5,724,742 $0 $ 7,215,196 $2,725,074 $ 7,215,196
Insurance Premiums $ 703,292 $ 703,292 $ 703,292 $ 703,292 $0 $ 703,292 $ 0 $ 703,292
Restricted Stock
Awards
Time-based $ 0 (2) $ 407,121 (3) $0
(2) $ 407,121 (4) $0 (2) $ 407,121 (5) $ 407,121 (6) $ 407,121 (6)
Performance-based
Profit Goal Shares $ 0 (2) $ 369,905 (3) $0
(2) $ 369,905 (4) $0 (2) $ 369,905 (5) $ 369,905 (6) $ 369,905 (6)
TSR Shares $ 0 (2) $ 572,311 (3) $0
(2) $ 572,311 (4) $0 (2) $ 572,311 (5) $ 572,311 (6) $ 572,311 (6)
Michael R. Benkel
Restricted Stock
Awards
Time-based $ 0 (2) N/A (3) $0
(2) $ 274,435 (4) $0 (2) $ 274,435 (5) $ 274,435 (6) $ 274,435 (6)
Performance-based
Profit Goal Shares $ 0 (2) N/A (3) $0
(2) $0 (4) $0 (2) $ 248,571 (5) $0 (6) $0 (6)
TSR Shares $ 0 (2) N/A (3) $0
(2) $0 (4) $0 (2) $ 397,604 (5) $0 (6) $0 (6)
Catherine David
Restricted Stock
Awards
Time-based $ 0 (2) N/A (3) $0
(2) $ 348,828 (4) $0 (2) $ 348,828 (5) $ 348,828 (6) $ 348,828 (6)
Performance-based
Profit Goal Shares $ 0 (2) N/A (3) $0
(2) $0 (4) $0 (2) $ 316,286 (5) $0 (6) $0 (6)
TSR Shares $ 0 (2) N/A (3) $0
(2) $0 (4) $0 (2) $ 499,242 (5) $0 (6) $0 (6)
Sharon M. Leite
Restricted Stock
Awards
Time-based $ 0 (2) N/A (3) $0
(2) $ 299,958 (4) $0 (2) $ 299,958 (5) $ 299,958 (6) $ 299,958 (6)
Performance-based
Profit Goal Shares $ 0 (2) N/A (3) $0
(2) $0 (4) $0 (2) $ 272,089 (5) $0 (6) $0 (6)
TSR Shares $ 0 (2) N/A (3) $0
(2) $0 (4) $0 (2) $ 426,911 (5) $0 (6) $0 (6)
(1) The amounts shown for voluntary termination, voluntary good reason termination and involuntary without cause termination represent a lump-sum amount of the actuarial equivalent of benefits
under the Supplemental Retirement Plan for Messrs. Smith and Turner given their 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 Messrs. Smith and Turner assuming the executive officer is involuntarily terminated other than for cause, or left the
employment of Pier 1 Imports for good reason (as defined in the plan), on March 1, 2014, and that such date is within 24 months of a change in control (as defined in the plan) of Pier 1 Imports.
50 PIER 1 IMPORTS, INC. 2014 Proxy Statement