Document:

exv10w5w2

 

Exhibit 10.5.2

RESTRICTED STOCK AGREEMENT

     RESTRICTED STOCK AGREEMENT (“Agreement”), effective as of ___, between Pier 1
Imports, Inc., a Delaware corporation (the “Company”), and (the “Grantee”).

     WHEREAS, pursuant to the provisions of the Company’s Management Restricted Stock Plan (the
“Plan”), the Compensation Committee of the Board of Directors of the Company (the “Committee”)
administers the Plan (the “Plan”); and

     WHEREAS, the Committee has determined that the Grantee be granted a Restricted Stock Award
under the Plan for the number of shares and upon the terms set forth below;

     NOW, THEREFORE, the Company and the Grantee hereby agree as follows:

     1. Grant of Award. The Grantee is hereby granted an Award under the Plan (the
“Award”), subject to the terms and conditions hereinafter set forth, with respect to___
shares of Common Stock, $1.00 par value, of the Company (the “Stock”). . The Grantee shall be
issued stock certificates evidencing the restricted shares of Stock covered by the Award. Such
certificates shall be registered in the name of the Grantee, and shall bear an appropriate legend
referring to the terms, conditions, and restrictions applicable to this Award, substantially in the
following form:

“The transferability of this certificate and the shares of Stock represented hereby are
subject to the terms, conditions and restrictions (including forfeiture) contained in the
Management Restricted Stock Plan of Pier 1 Imports, Inc. and the Restricted Stock Agreement
entered into between the registered owner and Pier 1 Imports, Inc. A copy of such Plan and
Agreement is on file in the offices of Pier 1 Imports, Inc., 100 Pier 1 Place, Suite 600,
Fort Worth, Texas 76102.”

     The Stock certificates evidencing such shares shall be held in custody by the Company or, if
specified by the Committee, with a third party custodian or trustee, until the restrictions thereon
shall have lapsed, and, as a condition of this Award, the Grantee shall deliver a stock power, duly
endorsed in blank, relating to the restricted shares of Stock covered by this Award.

     2. Transfer Restrictions. Except as expressly provided herein, this Award and
the shares of Restricted Stock issued with respect to this Award are non-transferable otherwise
than by will or by the laws of descent and distribution, and may not otherwise be assigned, pledged
or hypothecated or otherwise disposed of and shall not be subject to execution, attachment or
similar process. Upon any attempt to effect any such disposition, or upon the levy of any such
process, the Award shall immediately become null and void and the shares of Restricted Stock
relating thereto shall be forfeited.

     3. Restrictions. The restrictions on the shares of Stock covered by this Award shall
lapse and such shares shall vest at the rate of (i) thirty-three percent (33%) of the shares of
Restricted Stock awarded hereunder on the first anniversary date of the date of Award hereof, (ii)
thirty-three percent (33%) of the shares of Restricted Stock awarded hereunder on the second

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anniversary date of the date of Award hereof, and (iii) thirty-four percent (34%) of the
shares of Restricted Stock awarded hereunder on the third anniversary date of the date of Award
hereof. Upon Termination of Employment of the Grantee with the Company or any Subsidiary of the
Company (or the successor of any such company) for any reason, the Grantee shall forfeit all rights
in shares of Restricted Stock as to which the restrictions thereon shall not have lapsed, and the
ownership of such shares shall immediately vest in the Company.

     4. Voting and Dividend Rights. During the period in which the restrictions provided
herein are applicable to the Stock covered by the Award, the Grantee shall have the right to vote
such shares and to receive any cash dividends paid with respect to such shares. Any dividend or
distribution payable with respect to Restricted Stock that shall be paid in shares of Common Stock
shall be subject to the same restrictions provided for herein. Any dividend or distribution (other
than cash or Common Stock) payable on shares of Restricted Stock, and any consideration receivable
for or in conversion of or exchange for shares of Restricted Stock, unless otherwise determined by
the Committee, shall be subject to the terms and conditions of this Agreement or with such
modifications thereof as the Committee may provide in its absolute discretion.

     5. Distribution Following End of Restrictions. Upon the expiration of the
restrictions provided in Section 3 hereof as to any portion of the Restricted Stock, the Company
will cause a new certificate evidencing such amount of Stock to be delivered to the Grantee, or in
the case of his death to his or her legal representative, beneficiary or heir, free of the legend
regarding transferability; provided, however, that the Company shall not be obligated to issued any
fractional shares of Common Stock.

     6. Tax Withholding. The obligation of the Company to deliver any certificate
to the Grantee pursuant to Section 5 hereof shall be subject to the receipt by the Company from the
Grantee of any withholding taxes required as a result of the grant of the Award or lapsing of
restrictions thereon. Subject to the consent of the Committee, the Grantee may satisfy all or part
of such withholding tax requirement by electing to require the Company to purchase that number of
unrestricted shares of Common Stock designated by the Grantee at a price equal to the closing price
for the Common Stock, as reported for consolidated transactions on the New York Stock Exchange on
the date of lapse of the restrictions or, if the Common Stock did not trade on such day, on the
next preceding day on which trading occurred.

     7. Securities Laws Requirements. The Company shall not be required to issue shares
pursuant to the Award unless and until (a) such shares have been duly listed upon each stock
exchange on which the Company’s Common Stock is then registered; and (b) the Company has complied
with applicable federal and state securities laws.

     The Committee may require the Grantee to furnish to the Company, prior to the issuance of any
shares of Stock in connection with this Award, an agreement, in such form as the committee may from
time to time deem appropriate, in which the Grantee represents that the shares acquired by him
under the Award are being acquired for investment and not with a view to the sale or distribution
thereof.

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     8. Incorporation of Plan Provisions. This Agreement is made pursuant to the Plan and
is subject to all of the terms and provisions of the Plan as if the same were fully set forth
herein, and receipt of a copy of the Plan is hereby acknowledged. Capitalized terms not otherwise
defined herein shall have the same meanings set forth for such terms in the Plan.

     9. Miscellaneous. This Agreement (a) shall be binding upon and inure to the benefit
of any successor of the Company, (b) shall be governed by the laws of the State of Delaware, and
any applicable laws of the United States, and (c) may not be amended without the written consent of
both the Company and the Grantee. No contract or right of employment shall be implied by this
Agreement.

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement here on the date first
above written.

	 	 	 	 	 
	 	PIER 1 IMPORTS, INC.

 	 
	 	 	 	 
	 	By:  	 	 
	 	 	 	 
	 	 	 	 
	 	GRANTEE: 	 
	 
	 	 	 	 
	 	 	 

3exv10w16w2

 

Exhibit 10.16.2

FIRST AMENDMENT OF CREDIT AGREEMENT

     THIS FIRST AMENDMENT OF CREDIT AGREEMENT (this “Amendment”) is entered into to be effective as
of May 3, 2005, among PIER 1 IMPORTS, INC., a Delaware corporation (“Borrower”), each of the banks
or other lending institutions which is a signatory to this Amendment (collectively,
“Lenders”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association
(“Wells Fargo”), for itself and as Administrative Agent for the Lenders (in such capacity, together
with its successors and assigns, “Administrative Agent”).

R E C I T A L S

     A. Reference is hereby made to that certain Revolving Credit Agreement dated as
of August 22, 2003, executed by Borrower, the Lenders defined therein, and
Administrative Agent (as amended, the “Credit Agreement”).

     B. Capitalized terms used herein shall, unless otherwise indicated, have the respective
meanings set forth in the Credit Agreement.

     C. Borrower, Administrative Agent, and Lenders desire to modify one provision in the Credit
Agreement, subject to the terms and conditions set forth herein.

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows:

     1. Amendments to the Credit Agreement.

     In Section 1.1 of the Credit Agreement, the definition of “Permitted Investments” is hereby
amended by:

     (a) Revising clause (k) to read as follows:

“(k) Working-capital advances from Borrower to The Pier Retail Group Limited that
are not outstanding more than 360 days and that never exceed a total of $15,000,000
principal amount outstanding at any time;”

     (b) In clause (n) thereof, deleting the word “and”;

     (c) In clause (o) thereof, replacing the period at the end of such clause with a semicolon;
and

     (d) Adding the following after clause (o) thereof:

“(p) Auction rate securities issued by Federal agencies, municipal Governmental
Authorities, or corporations and rated AAA by S&P or Aaa by Moody’s;

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(q) Callable agency securities issued by government-sponsored entities and
rated AAA by S&P or Aaa by Moody’s; and

(r) Agency bullet securities issued by government-sponsored entities and rated AAA
by S&P or Aaa by Moody’s.”

     2. Amendments of Credit Agreement and Other Loan Documents.

     (a) All references in the Loan Documents to the Credit Agreement shall henceforth include
references to the Credit Agreement as modified and amended by this Amendment, and as may, from time
to time, be further modified, amended, restated, extended, renewed, and/or increased.

     (b) Any and all of the terms and provisions of the Loan Documents are hereby amended and
modified wherever necessary, even though not specifically addressed herein, so as to conform to the
amendments and modifications set forth herein.

     3. Ratifications. Borrower (a) ratifies and confirms all provisions of the Loan Documents as
amended by this Amendment, (b) ratifies and confirms that all guaranties, assurances, and Liens (if
any) granted, conveyed, or assigned to the Lenders under the Loan Documents are not released,
reduced, or otherwise adversely affected by this Amendment and continue to guarantee, assure, and
secure full payment and performance of the Obligation, and (c) agrees to perform such acts and duly
authorize, execute, acknowledge, deliver, file, and record such additional documents and
certificates as the Lenders may reasonably request in order to create, perfect, preserve, and
protect those guaranties, assurances, and Liens.

     4. Representations. Borrower represents and warrants to the Lenders that as of the date of
this Amendment: (a) this Amendment has been duly authorized, executed, and delivered by Borrower;
(b) no action of, or filing with, any Governmental Authority is required to authorize, or is
otherwise required in connection with, the execution, delivery, and performance by Borrower of this
Amendment; (c) the Loan Documents, as amended by this Amendment, are valid and binding upon
Borrower and are enforceable against Borrower in accordance with their respective terms, except as
limited by Debtor Relief Laws and general principles of equity; (d) the execution, delivery, and
performance by Borrower of this Amendment do not require the consent of any other Person and do not
and will not constitute a violation of any Laws, order of any Governmental Authority, or material
agreements to which Borrower is a party or by which Borrower is bound; (e) all representations and
warranties in the Loan Documents are true and correct in all material respects on and as of the
date of this Amendment, except to the extent that (i) any of them speak to a different specific
date, or (ii) the facts on which any of them were based have been changed by transactions
contemplated or permitted by the Credit Agreement; and (f) both before and after giving effect to
this Amendment, no Potential Default or Default exists.

     5. Conditions. This Amendment shall not be effective unless and until:

     (a) this Amendment is executed by Borrower, Administrative Agent, and the Required Lenders;

First Amendment

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     (b) the representations and warranties in this Amendment are true and correct in all
material respects on and as of the date of this Amendment, except to the extent that (i) any of
them speak to a different specific date, or (ii) the facts on which any of them were based
have been changed by transactions contemplated or permitted by the Credit Agreement; and

     (c) both before and after giving effect to this Amendment, no Potential Default or Default
exists; and

     6. Continued Effect. Except to the extent amended hereby or by any documents executed in
connection herewith, all terms, provisions, and conditions of the Credit Agreement and the other
Loan Documents, and all documents executed in connection therewith, shall continue in full force
and effect and shall remain enforceable and binding in accordance with their respective terms.

     7. Miscellaneous. Unless stated otherwise (a) the singular number includes the plural and vice
versa and words of any gender include each other gender, in each case, as appropriate, (b) headings
and captions may not be construed in interpreting provisions, (c) this Amendment shall be construed
— and its performance enforced — under Texas law, (d) if any part of this Amendment is for any
reason found to be unenforceable, all other portions of it nevertheless remain enforceable, and (e)
this Amendment may be executed in any number of counterparts with the same effect as if all
signatories had signed the same document, and all of those counterparts must be construed together
to constitute the same document.

     8. Parties. This Amendment binds and inures to Borrower and the Lenders and their respective
successors and permitted assigns.

     9. Entireties. The Credit Agreement and the other Loan Documents, as
amended by this Amendment, represent the final agreement between the parties about
the subject matter of the Credit Agreement and may not be contradicted by evidence
of prior, contemporaneous, or subsequent oral agreements of the parties. There are
no unwritten oral agreements between the parties.

[Remainder of Page Intentionally Left Blank;

Signature Pages to Follow.]

First Amendment

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EXECUTED as of the date first written above.

	 	 	 	 	 	 	 
	 	 	PIER 1 IMPORTS, INC.,
	 	 	as Borrower
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Mailing Address:
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	100 Pier 1 Place
	 	 	 	 	 	 
	Fort Worth, Texas 76102
	 	 	 	 	 	 

Signature Page to First Amendment to

Revolving Credit Agreement

(Pier 1 Imports, Inc.)

 

 

	 	 	 
	 

	 	WELLS FARGO BANK, NATIONAL
ASSOCIATION,

as Administrative Agent, as Swing Line Lender, and as a
Lender

	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 
	 

	 	 	 	 	 	 

Signature Page to First Amendment to

Revolving Credit Agreement

(Pier 1 Imports, Inc.)

 

 

	 	 	 
	 

	 	BANK OF AMERICA, N.A.,
	 

	 	as Syndication Agent and as a Lender

	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 
	 

	 	 	 	 	 	 

Signature Page to First Amendment to

Revolving Credit Agreement

(Pier 1 Imports, Inc.)

 

 

	 	 	 
	 

	 	JPMORGAN CHASE BANK,
	 

	 	as Documentation Agent and as a Lender

	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 
	 

	 	 	 	 	 	 

Signature Page to First Amendment to

Revolving Credit Agreement

(Pier 1 Imports, Inc.)

 

 

	 	 	 
	 

	 	WACHOVIA BANK, NATIONAL ASSOCIATION,
	 

	 	as a Lender

	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 
	 

	 	 	 	 	 	 

Signature Page to First Amendment to

Revolving Credit Agreement

(Pier 1 Imports, Inc.)

 

 

	 	 	 
	 

	 	HSBC BANK U.S.A.,
	 

	 	as a Lender

	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 
	 

	 	 	 	 	 	 

Signature Page to First Amendment to

Revolving Credit Agreement

(Pier 1 Imports, Inc.)

 

 

	 	 	 
	 

	 	SUNTRUST BANK,
	 

	 	as a Lender

	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 
	 

	 	 	 	 	 	 

Signature Page to First Amendment to

Revolving Credit Agreement

(Pier 1 Imports, Inc.)

 

 

	 	 	 
	 

	 	THE BANK OF TOKYO – MITSUBISHI, LTD.,
	 

	 	as a Lender

	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 
	 

	 	 	 	 	 	 

Signature Page to First Amendment to

Revolving Credit Agreement

(Pier 1 Imports, Inc.)

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