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Exhibit 10.7
PIER 1 IMPORTS
NON-EMPLOYEE DIRECTOR COMPENSATION PLAN
ADOPTED JUNE 24, 1999
AS AMENDED DECEMBER 15, 2008
Cash Compensation (payable in advance at beginning of each
fiscal year on the first business day of such fiscal year)
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·
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Non-Employee Director Annual Retainer
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$
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150,000
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·
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Audit Committee Chair Annual Retainer
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$
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25,000
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·
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Compensation Committee Chair Annual
Retainer
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$
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25,000
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·
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Nominating/Corporate Governance Committee Chair
Annual Retainer
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$
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10,000
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·
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Non-Executive Chairman of the Board Annual
Retainer
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$
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75,000
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Director Deferred Stock Units
·
Pursuant to the Director Deferred Stock Unit Awards program set
forth in the Pier 1 Imports, Inc. 2006 Stock Incentive
Plan , as amended (the "Plan").
·
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 the period January 1, 2009
through February 28, 2009 into an equivalent value of deferred
stock units (up to the Plan’s maximum calendar year limit of
375,000 units per individual), provided that any such deferral
election is made
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