Non-Employee Director Compensation Plan, as Amended

EX-10.22.2 4 d46619exv10w22w2.htm NON-EMPLOYEE DIRECTOR COMPENSATION PLAN, AS AMENDED exv10w22w2

EXHIBIT 10.22.2

PIER 1 IMPORTS
NON-EMPLOYEE DIRECTOR COMPENSATION PLAN
ADOPTED JUNE 24, 1999
AS AMENDED MARCH 4, 2007

Cash Compensation (payable in monthly installments)


Ø	Non-Employee Director Annual Retainer	$	150,000
Ø	Audit Committee Chair Annual Retainer	$	25,000
Ø	Compensation Committee Chair Annual Retainer	$	25,000
Ø	Nominating/Corporate Governance Committee Chair Annual Retainer	$	10,000
Ø	Non-Executive Chairman of the Board Annual Retainer (effective February 19, 2007)	$	75,000

Director Deferred Stock Unit Awards


Ø		Pursuant to the Director Deferred Stock Unit Awards program set forth in the Pier 1 Imports, Inc. 2006 Stock Incentive Plan, as amended effective March 4, 2007.

Ø		Effective January 1, 2008 each Non-Employee Director may elect to defer up to 100% (in whole percentages) of their cash fees (i.e., director, committee chair and chairman annual retainers) for an upcoming year into an equivalent value of deferred stock units.

Ø		Deferrals of the director annual retainer (i.e., not including the committee chair or chairman annual retainers) are credited with an additional 25% of the deferred amount.