Fiscal Year 2009 Executive Officer Base Salary Schedule for Pier 1 Imports, Inc.
This document outlines the annual base salaries for the named executive officers of Pier 1 Imports, Inc. for fiscal year 2009, effective April 20, 2008. It lists the base salaries for the President and CEO, Executive Vice Presidents, and details a one-time salary adjustment due to the discontinuation of certain allowances and reimbursements. The adjustment was made to maintain competitive compensation within the retail industry, with no other changes to base salaries from the previous year.
Exhibit 10.4
Fiscal Year 2009 Annual Base Salaries for Named Executive Officers
Effective April 20, 2008
| Fiscal 2009 | ||
| Name | Title | Base Salary |
| Alexander W. Smith | President and Chief Executive Officer | $ 1,050,000 |
| Charles H. Turner | Executive Vice President and Chief Financial Officer | $ 460,000 |
| Jay R. Jacobs | Executive Vice President, Merchandising | $ 420,000 |
| David A. Walker | Executive Vice President, Planning and Allocations | $ 370,000 |
Effective March 2, 2008 (the beginning of the Company’s fiscal 2009) the Company discontinued the payment of allowances for club dues, automobile expenses, financial planning and tax preparation, and reimbursement for certain medical expenses. In order to maintain a competitive position within the retail industry with respect to total compensation and in consideration of the discontinuance of these benefits, there was a one-time adjustment to the named executive officers’ base salaries; otherwise, the base salaries were unchanged from the prior fiscal year.
