Pier 1 2010 Annual Report Download - page 139

As discussed in the Compensation Discussion and Analysis above, Mr. Smith’s initial employment agreement
expired February 27, 2010. Mr. Smith’s initial 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 1999 Plan and 2006 Plan (as described in the footnotes below) are subject to certain non-competition,
non-solicitation and confidentiality agreements which, 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 $0 $0 $0 $0 $0 $262,500(13)
Supplemental
Retirement Plan(1)
Benefit Payment $3,616,559 $3,616,559 $3,616,559 $3,616,559 $0 $5,975,602 $1,733,861 $10,134,907
Insurance
Premiums $348,754 $348,754 $348,754 $348,754 $0 $348,754 $0 $348,754
Restricted Stock Awards $0(2) N/A(3) $2,291,250(13) $2,291,250(13) $0(2) $0(5) $0(6) $0(6)
Stock Options $0 N/A(8) $0(13) $0(13) $0 $0 $0 $0(13)
Charles H. Turner
Supplemental
Retirement Plan(1)
Benefit Payment $2,856,860 N/A $2,856,860 $2,856,860 $0 $6,413,806 $2,402,623 $3,194,171
Insurance
Premiums $0 N/A $0 $0 $0 $490,364 $0 $490,364
Restricted Stock Awards $0(2) N/A(3) $0(2) $86,334(4) $0(2) $86,334(5) $86,334(6) $86,334(6)
Stock Options $0(7) N/A(8) $0(7) $0(9) $0(10) $0(11) $0(12) $0(12)
Michael R. Benkel
Stock Options $0(7) N/A(8) $0(7) $0(9) $0(10) $42,075(11) $42,075(12) $42,075(12)
Gregory S. Humenesky
Supplemental
Retirement Plan(1)
Benefit payment $183,506 N/A $183,506 $183,506 $0 $721,461 $292,721 $1,807,041
Insurance
Premiums $0 N/A $0 $0 $0 $330,860 $0 $330,860
Restricted Stock Awards $0(2) N/A(3) $0(2) $86,334(4) $0(2) $86,334(5) $86,334(6) $86,334(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 $0(2) N/A (3) $0(2) $73,870(4) $0(2) $73,870(5) $73,870(6) $73,870 (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 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), 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 as renewed and
extended 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.
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