Document:

EX-10.1

 Exhibit 10.1 

FIRST AMENDMENT TO THE PRIVATE LABEL 

CREDIT CARD PLAN AGREEMENT 

This First Amendment to the Private Label Credit Card Plan Agreement (“First Amendment”) is entered into on this 13th day of November, 2017, (the “First Amendment Effective Date”) by and between PIER 1 IMPORTS (U.S.), INC., with its principal office at 100 Pier 1 Place, Fort Worth, Texas 76102
(hereinafter being referred to as “Pier 1”) and COMENITY BANK, formerly known as World Financial Network Bank, with its principal offices located at One Righter Parkway, Suite 100, Wilmington, DE 19803 (hereinafter referred to as
“Bank”). 
 RECITALS: 

WHEREAS, Pier 1 and Bank entered into a Private Label Credit Card Plan Agreement dated as of October 5, 2011
(“Agreement”); 
 WHEREAS, Pier 1 and Bank desire to add provisions that address sales tax recovery obligations for
Written - Off Accounts and sharing of Recoverable Sales Tax (as defined below); 
 NOW, THEREFORE, in consideration of
the mutual covenants and agreements contained herein, the parties hereto agree as follows: 
 1.    
Definitions; References. Each term used herein which is not defined herein shall have the meaning assigned to such term in the Agreement. Each reference to “hereof”, “hereunder”, “herein” and
“hereby” and each other similar reference and each reference to “this Agreement” and each other similar reference contained in the Agreement shall from and after the date hereof refer to the Agreement amended hereby. 

2. Section 10.18 Taxes. Section 10.18 is hereby deleted in its entirety and replaced with a new Section 10.18, as
follows: 
 10.18 Taxes. 

(a)     General. Pier 1 will be responsible for, and agrees to pay, all sales, use, excise, and
value-added taxes, or taxes of a similar nature (excluding personal property taxes and taxes based on Bank’s income which shall be borne by Bank), imposed by the United States, any state or local government, or other taxing authority, on all
services provided by Bank under this Agreement. Provided, however, that if/when Bank seeks payment from Pier 1, Bank shall deliver a written invoice (or other comparable form of written documentation requesting payment and basis therefor) to Pier 1
in a timely manner relative to when (i) Bank received an invoice or other statement for payment from the subject taxing authority, or (ii) Bank determined (or should have determined, based on Bank’s normal accounting reviews and
preparation of tax documents of which such matter should have been a part) that Pier 1 should pay such amount. The parties agree to cooperate with each other to minimize any applicable sales, use, or similar tax and, in connection therewith, the
parties shall provide each other with any relevant tax information as reasonably requested (including without limitation, resale or exemption certificates, multi-state exemption certificates, information concerning the use of assets, materials and
notices of assessments). All amounts set forth in this Agreement are expressed and shall be paid in U.S. dollars. 
 (b)
    Recoverable Sales Tax on Written-Off Accounts. Bank shall notify Pier 1 of any amounts written-off by Bank for federal income tax purposes on Accounts (“Written-Off Accounts”), identified by Account, and shall sign such forms and provide any such other information as is reasonably necessary to enable Pier 1 to recover any sales tax charged to any such Written-Off Account (“Recoverable Sales Taxes”). Regardless of whether a jurisdiction permits either Bank or Pier 1, or only Pier 1 to make a claim for Recoverable Sales Taxes, Pier 1 will use reasonable
efforts to claim a deduction on its sales tax returns for the maximum Recoverable Sales Tax amount associated with Bank’s Written-Off Accounts as permitted by Applicable Law. Pier 1 shall provide Bank
with documentation of the amount of Recoverable Sales Taxes claimed in each jurisdiction where Pier 1 makes such a claim. For clarity, Bank shall not file a claim for any Recoverable Sales Taxes with any state. Pier 1 shall pay to Bank an amount
equal to Fifty Percent (50%) of the Recoverable Sales Taxes (“Bank’s Tax Share”), and Pier 1 shall pay Bank the Bank’s Tax Share at the time Pier 1 claims a deduction on its required sales tax filing with a jurisdiction
permitting such deduction. If Pier 1 is required to file a claim for refund, rather than claiming a deduction as set forth above, then Pier 1 shall pay the Bank’s Tax Share to Bank at the time Pier 1 receives such refund from the state. In the
event 

 
Pier 1 is audited or assessed by a state in which Recoverable Sales Taxes have been claimed, and such audit specifically identifies Revocable Sales Taxes as being an area under review, then Pier
1 shall timely notify Bank when Pier 1 receives such notice, and Bank shall be permitted to participate with Pier 1 and shall cooperate in any such audit or assessment. In the event Pier 1 is audited or assessed by a state, and as a result any
portion of the Bank’s Tax Share is repaid to the state, Bank shall repay such amount (including any penalties and interest in respect of such amount) to Pier 1. Notwithstanding any provision to the contrary, if Pier 1 fails to notify Bank of an
audit in which Recoverable Sales Taxes are disallowed by the state, or if Pier 1 fails to permit Bank to participate in such an audit, then Bank shall not be required to repay any amount of Recoverable Sales Taxes (inclusive of penalties and
interest related thereto) repaid to the state. Pier 1 may, in its sole and absolute discretion, following ninety (90) days’ prior written notice to Bank, cease filing claims for Recoverable Sales Taxes as required by this
Section 10.18(b). If Pier 1 ceases filing claims, Pier 1 shall timely provide Bank any and all documents, including assignments of any rights Pier 1 may have in Recoverable Sales Taxes, necessary for Bank to file claims directly with states
that allow such claims. Notwithstanding any provision to the contrary, if Bank files claims directly with a state or states, Pier 1 shall not be entitled to any portion of the Recoverable Sales Taxes. 

3.     While the provisions of Section 10.18. (b) shall be effective as of the First Amendment Effective Date, both
parties shall take such actions as necessary to seek Recoverable Sales Tax for prior years to the maximum extent permitted by applicable law and in accordance with the provisions of Section 10 (b). 

4.     Order of Precedence. This First Amendment is supplementary to and modifies the Agreement. All
terms and conditions of the Agreement shall remain unchanged and in full force and effect except as amended by this First Amendment. 

5.     Counterparts. This First Amendment may be executed in counterparts, each of
which shall be deemed an original and all of which together shall constitute one and the same document. Additionally, a fully executed PDF of this First Amendment shall be deemed to constitute an original document. 

IN WITNESS WHEREOF, the parties have caused this First Amendment to be executed by their duly authorized officers. 

 

									
	PIER 1 IMPORTS (U.S.), INC.	 		 	COMENITY BANK
					
	By:	 	 /s/ Darla Ramirez
	 		 	By:	 	 /s/ John Marion

	Name:	 	Darla Ramirez	 		 	Name:	 	John Marion
	Title:	 	VP — Controller & Interim CFO	 		 	Title: 	 	PresidentEX-10.2

 Exhibit 10.2 
  

PIER 1 IMPORTS, INC. DEFERRED COMPENSATION PLAN 

AMENDMENT NO. 2 
 This
Amendment No. 2 is made to the Pier 1 Imports, Inc. Deferred Compensation Plan (the “Plan”). The Plan was made effective January 1, 2011 by Pier 1 Imports, Inc. a Delaware corporation (the “Company”) and was amended by
the Company effective January 1, 2013. This Amendment No. 2 is made effective January 1, 2018 by the Company. 
 WHEREAS, the
Company desires to (i) amend the vesting schedule from the 6-year graded schedule based on years of service under the Company’s 401(k) plan to a 3-year cliff
vesting schedule based on years of service to be defined under the Plan, (ii) amend the valuation date for distributions upon termination of employment or service under Section 7.03 of the Plan, (iii) amend the Plan to remove the age
requirement for installment distributions under Section 7.05 of the Plan with respect to deferrals and matching contributions (plus earnings thereon) made on or after January 1, 2018, and (iv) amend the Plan to allow participants to
make more than one change to their distribution elections under Section 7.06 of the Plan; and 
 WHEREAS, pursuant to
Section 12.04 of the Plan, the Company may amend the Plan at any time, in whole or in part. 
 NOW, THEREFORE, the Plan is hereby
amended effective as of January 1, 2018, as follows: 
  

	 	1.	Section 2.30 is added to the Plan to read as follows: 

Section 2.30    Years of Service. “Years of Service” shall mean a Participant’s continuous period of
service with the Company measured in full years from the Participant’s most recent date of hire. A Participant shall receive credit for one full “Year of Service” on each anniversary of his most recent date of hire provided he is
employed by the Company on such anniversary. 
  

	 	2.	Section 5.02 of the Plan is amended in its entirety to read as follows: 

Section 5.02    Vesting of Deferral Match. An Executive Participant is vested (that is, the whole of the Deferral
Match becomes nonforfeitable) in any Deferral Match arising under Section 5.01 of this Plan (plus earnings thereon pursuant to Section 6.03) according to the following vesting schedule: 

 

			
	 Years of Service
	  	Percent of Deferral Match that is Vested
	 Less than 3
	  	0%
	 3 or more
	  	100%

 The portion of an Executive Participant’s Deferral Match which is vested shall be referred to herein as
the “Vested Deferral Match.” 

 
Notwithstanding the foregoing, an Executive Participant who has an Annual Account balance greater than zero on December 31, 2017, and has thereafter remained continuously employed by the
Company until a given determination date, is vested (that is, the whole or portion of the Deferral Match becomes nonforfeitable) in any Deferral Match arising under Section 5.01 of this Plan (plus earnings thereon pursuant to
Section 6.03), as of any such given determination date, according to either (i) the vesting schedule set forth above; or (ii) the provisions of the 401(k) Plan, as in effect on January 1, 2018, that are applicable to the vesting
of Company matching contributions under such 401(k) Plan, irrespective of whether a Participant is actually participating in the 401(k) Plan; whichever of (i) or (ii) above results in the highest Vested Deferral Match as of such determination
date. 
  

	 	3.	Section 7.02A is added to the Plan to read as follows: 

Section 7.02A    Valuation of Certain Distributions. Notwithstanding the provisions of Sections 7.03, 7.04 and 7.05
below related to valuation of accounts for distribution purposes, any Aggregate Account or Annual Account that is to be distributed under Section 7.03, 7.04 or 7.05 of the Plan upon the death of the Participant or upon the termination of a
Participant’s employment with the Company or service as a member of the Board of Directors will be valued as of the last business day of the calendar month immediately following the calendar month in which the Participant’s death occurs or
the Participant’s employment or service as a member of the Board of Directors ends, as applicable. 
  

	 	4.	Section 7.05 of the Plan is amended by adding the following paragraph to the end thereof: 

Notwithstanding the foregoing provisions related to conditions applicable to distributions under this Section 7.05, the distribution of a
Participant’s Annual Account resulting from Deferrals and Deferral Match (plus earnings thereon pursuant to Section 6.03) credited to such Annual Account with respect to Plan Years beginning on or after January 1, 2018, shall be
conditioned only upon the condition stated in (b) above, and any reference to the satisfaction of the condition stated in (a) above shall be disregarded with respect to such Annual Account. For purposes of clarification, the distribution
of a Participant’s Annual Account resulting from Deferrals and Deferral Match (plus earnings thereon pursuant to Section 6.03) credited to such Annual Account with respect to Plan Years beginning before January 1, 2018, shall remain
conditioned upon the condition stated in (a) above, and thus, the foregoing sentence may result in a portion of the balance of the Participant’s Aggregate Account for which a Participant elected an installment payment being paid in

  
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accordance with Section 7.03 above and another portion of such balance being paid in the annual installments the Participant so elected to be paid upon termination of employment or service.

  

	 	5.	The first sentence of the second paragraph of Section 7.06 of the Plan is amended in its entirety to read as follows: 

For purposes of application of the above change limitations, installment payments shall be treated as a single payment and only one change
shall be allowed to be made by a Participant with respect to form of benefits to be received by such Participant under Sections 7.03 and Section 7.05. 
  

	 	6.	This Amendment No. 2 shall not operate or be construed to alter, modify or amend the Plan except as expressly set forth herein. All capitalized terms used in this Amendment No. 2, unless specifically defined
herein, have the same meanings attributed to them in the Plan. The terms and provision of the Plan, as expressly amended hereby, shall remain in full force and effect. 

IN WITNESS WHEREOF, the Company has caused this Amendment No. 2 to be executed effective January 1, 2018. 

 

	
	PIER 1 IMPORTS, INC.
	
	 /s/ Gregory S. Humenesky

	Gregory S. Humenesky
	Executive Vice President - Human Resources
	December 18, 2017

  
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