Document:

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                                                                    EXHIBIT 10.3

                               FIRST AMENDMENT TO
                                U.S. VISION, INC.
                                STOCK OPTION PLAN

      U.S. Vision, Inc., a Delaware corporation (the "Company"), adopted a Stock
Option Plan dated as of February 29, 1996 (the "Plan"), providing for shares of
the Company's common stock, $0.01 par value per share (the "Common Stock"), to
be issued under the Plan pursuant to the terms and conditions stated in the
Plan. Subject to stockholder approval, at a meeting held on April 19, 2000, the
Board of Directors of the Company adopted resolutions amending the Plan to
increase the aggregate number of shares subject to issuance under the Plan from
1,300,000 to 2,000,000. Also, at the Annual Meeting of stockholders of the
Company held on June 22, 2000, the stockholders of the Company approved the
amendment to the Plan.

      As a result of the approval by the Company's Board of Directors and the
stockholders, the Plan is hereby amended to increase the total number of shares
subject to issuance under the Plan from 1,300,000 to 2,000,000.

      IN WITNESS WHEREOF, the Company, acting by and through its officers
hereunto duly authorized, has executed this instrument as of the 22nd day of
June, 2000.

                                    U.S. VISION, INC.

                                    By:/s/ KATHY G. CULLEN
                                       -----------------------------------
                                    Kathy G. Cullen, Senior Vice
                                    President and Chief Financial Officer<PAGE>   1
                                                                  EXHIBIT 10.2.1

                                 FIRST AMENDMENT
                                     TO THE
                              PIER 1 IMPORTS, INC.
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
                                   AS RESTATED

         WHEREAS, PIER 1 IMPORTS, INC. (the "Company") has heretofore adopted
the PIER 1 IMPORTS, INC. SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN; and

         WHEREAS, such plan was restated on January 1, 1996, (the restated plan
herein referred to as the "Plan"); and

         WHEREAS, the Company desires to amend the Plan's definition of
"Employer" contained in Section 2.8 of the Plan to include within such
definition wholly owned non-corporate business trust(s) of the Company;

         NOW, THEREFORE pursuant to Section 8.1 of the Plan, effective October
1, 1996, the Plan is amended as follows:

         1.       Section 2.8 of the Plan is amended to read as follows:

                  Employer. "Employer" means any of Pier 1, its subsidiaries,
                  including a business trust directly or indirectly wholly owned
                  by Pier 1, and each of their respective successors.

         IN WITNESS WHEREOF, the Company has caused this Amendment to be
executed as of the stated effective date.

                                           PIER 1 IMPORTS, INC.,
                                           a Delaware corporation

                                           By:
                                              ----------------------------------
                                              E. Mitchell Weatherly
                                              Senior Vice President

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                              PIER 1 IMPORTS, INC.

                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

                                1996 RESTATEMENT

                                 AMENDMENT NO. 2

         This Amendment No. 2 to the restated Pier 1 Imports, Inc. Supplemental
Executive Retirement Plan, originally effective May 1, 1986 and restated as of
January 1, 1996, as amended October 11, 1996 and June 26, 1997 (the "Plan"), is
made on this 26th day of September, 2000, by Pier 1 Imports, Inc., a Delaware
corporation (the "Company").

         WHEREAS, the Company desires to eliminate the restriction on the
maximum amount of the Supplemental Retirement Benefit payable annually to any
Participant under the Plan; and

         WHEREAS, pursuant to Section 8.1 of the Plan, the Board of Directors of
the Company may amend the Plan at any time, in whole or in part;

         NOW, THEREFORE, the Plan is hereby amended as follows:

         FIRST: Section 4.1 of the Plan is hereby amended to read in its
entirety as follows:

         4.1      BENEFIT

                  Upon separation from employment, a Participant shall receive a
         Supplemental Retirement Benefit from this Plan which, along with the
         Participant's benefits from primary Social Security, shall equal
         approximately fifty percent (50%) of the Participant's Highest Average
         Compensation. The computation of said Supplemental Retirement Benefit
         shall be made in accordance with the following provisions of this
         Article IV.

         SECOND: This Amendment No. 2 shall be effective as of September 26,
2000, and shall not operate or be construed to alter, modify or amend the Plan
except as expressly set forth herein. The terms and provisions 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 as of September 26, 2000.

                                                 PIER 1 IMPORTS, INC.

                                                 By:
                                                    ----------------------------
                                                    J. Rodney Lawrence
                                                    Senior Vice President<PAGE>   1
                                                                 EXHIBIT 10.11.3

                               AMENDMENT NO. 4 TO
                         POOLING AND SERVICING AGREEMENT

         This AMENDMENT NO. 4, dated as of March 30, 2001, to POOLING AND
SERVICING AGREEMENT, dated as of February 12, 1997, as amended by Amendment No.
1, dated as of May 30, 1997, Amendment No. 2, dated as of October 29, 1997, and
Amendment No. 3, dated as of January 13, 1998 (the Pooling and Servicing
Agreement, as amended by Amendments No. 1, No. 2 and No. 3, is herein referred
to as the "Agreement"), among PIER 1 FUNDING, LLC, a Delaware limited liability
company and successor to Pier 1 Funding, Inc., a Delaware corporation, as
Transferor (the "Transferor"), PIER 1 IMPORTS, INC., a Delaware corporation, as
Servicer (the "Servicer"), and THE CHASE MANHATTAN BANK, a New York banking
Association and successor to Texas Commerce Bank National Association, as
Trustee (the "Trustee").

         WHEREAS, the Transferor, the Servicer and the Trustee have entered into
the Agreement and wish to further amend the Agreement;

         NOW, THEREFORE, in consideration of the foregoing and of the mutual
covenants herein contained, the parties hereto hereby agree as follows:

         SECTION 1. Defined Terms.

         "Effective Date" means the earlier of March 31, 2001, or the first date
on which each of the parties hereto shall have executed and delivered to the
others one or more counterparts of this Amendment.

         Unless otherwise defined herein, the terms used herein shall have the
meanings assigned to such terms in, or incorporated by reference to the
Agreement.

         SECTION 2. Amendments to the Agreement.

         The Agreement is hereby amended, effective on the Effective Date, as
follows:

         (a) Section 1.1 of the Agreement shall be amended in the definition of
"Cash Equivalents" by:

                  (1) appending to the end of the first phrase of such
         definition beginning after the word "evidence" the following phrase:

                           , the maturity dates of which shall not be later than
                           the expected distribution dates of the funds:
and

                  (2) amending and restating clause (h) to read as follows:

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                           any other relatively risk-free investments (excluding
                           options) approved in writing by each Rating Agency
                           which would not cause the Trust to become an
                           "investment company" within the meaning of the
                           Investment Company Act.

         (b) Section 2.10 of the Agreement shall be amended by:

                  (1) appending the following proviso to the end of the first
         sentence thereof prior to subsection (a):

                           ; provided, however, that the reassignment of Removed
                           Accounts may be effected no more frequently than once
                           in any 30-day period:
and

                  (2) deleting subclause (x) from clause (ii) of Section 2.10(e)
         such that clause (ii) shall read in its entirety as follows:

                           (ii) a random selection procedure was used by the
                           Transferor in selecting the Removed Accounts or
                           Participation Interests;

         (c) Section 9.2(a) of the Agreement shall be amended by deleting the
fourth and fifth sentences preceding the end of Section 9.2(a) and inserting in
their place the following sentence:

         In the case of an Insolvency Event only, the Transferor or any of its
         Affiliates shall be permitted to bid for the Receivables and,
         additionally, shall have the right to match any bid by a third person
         and be granted the right to purchase the Receivables at such matched
         bid price.

         (d) Section 12.4 of the Agreement relating to Defeasance shall be
deleted in its entirety.

         (e) Section 13.1(a) of the Agreement shall be amended by amending and
restating clause (ix) thereof and the following proviso to read as follows:

         (ix) adding any provision to, changing in any manner or eliminating any
         provision of, this Agreement or any Supplement, or modifying in any
         manner the rights of Certificateholders of any Series then issued and
         outstanding; provided, however, in each case that (x) the Transferor
         shall have delivered to the Trustee an Officer's Certificate to the
         effect that the Transferor reasonably believes that such action shall
         not adversely affect in any material respect the interests of any
         Investor Certificateholder and that such amendment shall not
         significantly change the permitted activities of the Trust or result in
         the disallowance of sales accounting treatment of the transfer of the
         Receivables to the Trust under generally accepted accounting principles
         as provided in then existing accounting literature, (y) except with
         respect to clauses (i) and (ii), the Rating Agency Condition shall have
         been

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         satisfied with respect to any such amendment and (z) a Tax Opinion is
         delivered in connection with any such amendment.

         SECTION 3. Execution in Counterparts.

         This Amendment may be executed in any number of counterparts and by
different parties hereto on separate counterparts, each of which counterparts,
when so executed and delivered, shall be deemed to be an original and all of
which counterparts, taken together, shall constitute but one and the same
Amendment.

         SECTION 4. Consents; Binding Effect.

         The execution and delivery by the Transferor, the Servicer and the
Trustee of this Amendment shall constitute the written consent of each of them,
as required by Section 13.1 of the Agreement, to this Amendment.

         On the Effective Date, this Amendment shall be binding upon, and inure
to the benefit of, the parties hereto and their respective successors and
assigns.

         SECTION 5. Governing Law.

         This Amendment shall be governed by and construed in accordance with
the laws of the State of New York.

         SECTION 6. Severability of Provisions.

         Any provision of this Amendment which is prohibited or unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof or affecting the validity or enforceability of such provision
in any other jurisdiction.

         SECTION 7. Captions.

         The captions in this Amendment are for convenience of reference only
and shall not define or limit any of the terms or provisions hereof.

         SECTION 8. Agreement to Remain in Full Force and Effect.

         Except as amended hereby, the Agreement shall remain in full force and
effect and is hereby ratified, adopted and confirmed in all respects. This
Amendment shall be deemed to be an amendment to the Agreement. All references in
the Agreement to "this Agreement," "hereunder," "hereof," "herein" or words of
like import, and all references to the Agreement in any other agreement or
document shall hereafter be deemed to refer to the Agreement as amended hereby.

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         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to
executed as of the date and year first above written.

                                       PIER 1 IMPORTS (U.S.), INC.,
                                         as Servicer

                                       By
                                          -------------------------------------
                                          J. Rodney Lawrence
                                          Senior Vice President

                                       PIER 1 FUNDING, LLC,
                                         as Transferor

                                       By
                                          -------------------------------------
                                          J. Gregory Coffey
                                          Vice President

                                       THE CHASE MANHATTAN BANK,
                                         as Trustee

                                       By
                                          -------------------------------------
                                          Alan Lai
                                          Vice President

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