Document:

exv10w1

 

Exhibit 10.1

EMPLOYMENT-AT-WILL AGREEMENT

between

ORBIMAGE HOLDINGS INC.

and

Henry E. Dubois

Effective as of January 3, 2006

To Henry E. Dubois:

	 	 	 	 	 	 	 
	1.	 	Employment By The Company.
	 	 	 	 	 	 	 
	 	 	1.1	 	Subject to terms set forth herein, the Company agrees to continue to employ you as an
employee-at-will in the capacity of Executive Vice President and Chief Financial Officer. In this
position, you will report to the Company’s Chief Executive Officer, and be charged with supervising
the general financial operations of the Company.
	 	 	 	 	 	 	 
	2.	 	Compensation & Benefits.
	 	 	 	 	 	 	 
	 	 	2.1	 	Salary. You will receive an initial gross base annual salary of $250,000,
which will be paid and reviewed in accordance with standard Company policy (current
payment policy is bi-weekly; current review cycles are annual).
	 	 	 	 	 	 	 
	 	 	2.2	 	Company Benefits.
	 	 	 	 	 	 	 
	 	 	 	 	2.2.1	 	You will be entitled to all rights and benefits for which you
are eligible under the terms and conditions of the standard Company benefits
and compensation practices which may be in effect from time to time and
provided by the Company to its employees in senior executive positions (the
“Company Benefits”).
	 	 	 	 	 	 	 
	 	 	 	 	2.2.2	 	The Company will pay up to $[1,500] in premiums annually
toward your company provided life insurance coverage. Such coverage will be in
the amount of $900,000, subject to the continuing approval of the Company’s
life insurance carrier.
	 	 	 	 	 	 	 
	 	 	 	 	2.2.3	 	To the extent allowed by the Company’s 401(k) plan, your
commencement of employment for purposes of vesting will date from July 1, 2005,
which both you and the Company agree was the date on which the nature of your
services were shifted from a casual or temporary basis to a full time basis.
	 	 	 	 	 	 	 
	 	 	 	 	2.2.4	 	You will be entitled to reimbursement of moving expenses up to
$100,000 for documented expenses. Such reimbursement will include, but not be
limited to, normal moving and relocation expenses (as detailed in the

 

 

	 	 	 	 	 	 	 
	 	 	 	 		 	Company's standard relocation policy),
closing costs associated with the sale of one existing home and the closing costs (including points)
associated with the purchase of one home within the geographic vicinity of the Company's Dulles,
Virginia office, costs associated with temporary housing within the geographic vicinity of the Company's Dulles,
Virginia office, expenses relating to commuting to your house in Vermont for up to six months from the date hereof,
and other legitimate expenses associated with relocation to the geographic
vicinity of the Company's Dulles, Virginia office.  Please note that some
relocation expenses are considered income by the IRS.  ORBIMAGE is required to
withhold federal, FICA, and state taxes on these taxable relocation expenses.
All such taxes will be withheld at the time of employee reimbursement.
Eligible third party payments such as temporary housing will be taxed on the
following payday and will be withheld from your paycheck.

	 	 	 	 	 	 	 
	 	 	2.3	 	Severance. You will be entitled to the severance benefits (“Severance
Benefits”) described in Section 6 below, subject to the other terms and conditions
of this Agreement.
	 	 	 	 	 	 	 
	 	 	2.4	 	Bonuses. You will be eligible to receive an annual bonus of 50% of your base
salary at target, subject to adjustment based upon the Company’s performance as shown
on Appendix A hereto. 50% of your annual bonus will be paid in common stock of the
Company and the remainder will be paid in cash. You may elect to receive a higher
proportion of your bonus in common stock. For the purpose of calculating the number of
shares of common stock to be issued, the value of such shares of common stock shall be
the “Fair Market Value” of such shares as defined in the Company’s 2003 Employee Stock
Incentive Plan. Payment of bonuses will be made in accordance with the Company’s
standard policy for payment of executive bonuses.
	 	 	 	 	 	 	 
	 	 	2.5	 	Stock Grants
	 	 	 	 	 	 	 
	 	 	 	 	2.5.1	 	Restricted Stock. On the latter of the date that you commence
your employment or the date on which the Company’s registration statement on
Form S-8 becomes effective, the Board of Directors of the Company will issue
5,000 shares of restricted common stock of the Company to you pursuant to the
Company’s 2003 Stock Incentive Plan. The Company will also pay you up to
$50,000 to cover the costs of an 83(b) election on such shares, inclusive of
amounts necessary to gross up for income, employment or other similar tax
purposes. To the extent less than $50,000
is required for the inclusive costs associated with such 83(b) election, the
Company will issue additional shares of restricted common stock and pay an
amount necessary to cover the taxes due for the 83(b) election (inclusive of
income, employment and similar taxes), until the total of the

2

 

	 	 	 	 	 	 	 
	 	 	 	 	 	 	Fair Market
Value (as defined in the Plan) of all such additional shares and the total
amounts paid for the 83(b) election for all shares issued hereunder equals
$50,000. All such shares (subject to changes set forth in a separate
Restricted Stock Agreement to be entered into between you and the Company),
will vest on January 1, 2009. You will be granted “piggyback” registration
rights for such shares on any registration statement under the Securities
Act of 1933, as amended, registering common stock for sale filed by the
Company, subject to the cutback rights of the Company or the holders for
whom such registration statement is filed; provided that to the extent one
or more registration statements are filed before December 31, 2006, at least
one shall include your shares if you have so requested.
	 	 	 	 	 	 	 
	 	 	 	 	2.5.2	 	Stock Options. On the date that you commence you employment,
you will be granted options to purchase 22,500 shares under the Company’s 2003
Employee Stock Incentive Plan, with a strike price of the “Fair Market Value”
on the date of such grant. Of such options (subject to changes set forth in a
separate Option Agreement to be entered into between you and the Company), 25%
will vest on each December 31 beginning with December 31, 2006. You will be
granted “piggyback” registration rights for the shares underlying such options
on any registration statement under the Securities Act of 1933, as amended,
registering common stock for sale filed by the Company, subject to the cutback
rights of the Company or the holders for whom such registration statement is
filed; provided that to the extent one or more registration statements are
filed before December 31, 2005, at least one shall include your shares if you
have so requested
	 	 	 	 	 	 	 
	 	 	 	 	2.5.3	 	Additional Awards. You will be eligible for additional grants
of options and restricted stock under the Company’s 2003 Employee Stock
Incentive Plan and future plans as determined by the Compensation Committee of
the Company’s Board of Directors in its sole discretion.
	 	 	 	 	 	 	 
	 	 	 	 	2.5.4	 	Tax Gross Up; Consultant Restricted Stock. In order to avoid
the necessity of sales of stock by you to cover income tax due on “dry income”
caused by the issuance to you of stock as required by the consulting
arrangement between you and the Company prior to your employment as Chief
Financial Officer, the Company and you agree to the provisions of this section.
On the date on which the Company’s
registration statement on Form S-8 becomes effective, the Board of Directors
of the Company will issue 3,000 shares of restricted common stock of the
Company to you pursuant to the Company’s 2003 Stock Incentive Plan and the
Company will also pay you $24,000 to cover taxes associated with such
shares, including the costs of an 83(b) election on such shares. You will
be granted “piggyback” registration rights for such

3

 

	 	 	 	 	 	 	 
	 	 	 	 	 	 	shares on any
registration statement under the Securities Act of 1933, as amended,
registering common stock for sale filed by the Company, subject to the
cutback rights of the Company or the holders for whom such registration
statement is filed; provided that to the extent one or more registration
statements are filed before December 31, 2006, at least one shall include
your shares if you have so requested.
	 	 	 	 	 	 	 
	3.	 	Proprietary Information Obligations.
	 	 	 	 	 	 	 
	 	 	3.1	 	Confidentiality. You agree that all Confidential Information will be held in
complete confidence and that you will not, during your employment with the Company,
except in the performance of your duties to the Company, or at any time after the
termination of your employment with the Company, disclose to any person (other than the
Company or its affiliates), or use for your own account, without the prior written
consent of the Company, any Confidential Information. For purposes of this Agreement,
the term “Confidential Information” shall mean information relating to the
business and affairs of the Company or any of its affiliates that is of a confidential
nature.
	 	 	 	 	 	 	 
	 	 	3.2	 	Ownership of Trade Secrets, etc.
	 	 	 	 	 	 	 
	 	 	 	 	(a) All non-public written materials, records and documents made by you or coming
into your possession during your employment with the Company concerning the business
or affairs of the Company or any of its affiliates, except for personal, financial,
or legal records, shall be the sole property of the Company and its affiliates. Upon
the termination of your employment with the Company or upon the earlier request of
the Company during your employment with the Company, you shall promptly deliver the
same to the Company (or its designee).
	 	 	 	 	 	 	 
	 	 	 	 	(b) You agree that any trade secret, invention, improvement, patent, patent
application or writing, and any program, system or novel technique (whether or not
capable of being trademarked, copyrighted or patented) conceived, developed or
otherwise obtained by you during your employment with the Company relating to the
business, property, methods, suppliers or customers of the Company or any of its
affiliates shall be the property of the Company and its affiliates; and you agree to
give the Company prompt written notice of your conception, invention, authorship,
development or acquisition of any such trade secret, invention,
improvement, patent, patent application or writing, and any program, system or novel
technique and to execute such instruments of transfer, assignment, conveyance or
confirmation and such other documents and to do all appropriate lawful acts as may
be required by the Company to transfer, assign, confirm and perfect in the Company
all legally protectible rights in any such trade secret, invention, improvement,
patent, patent application, writing, program, system or novel technique.

4

 

	 	 	 	 	 	 	 
	 	 	 	 	(c) You represent and warrant that the execution and delivery by you of this
Agreement and the performance by you of your obligations hereunder will not, with or
without the giving of notice or the passage of time, (i) to the best of your
knowledge, violate any judgment, writ, injunction or order of any court, arbitrator
or governmental agency applicable to you or (ii) conflict with, result in the breach
of any provisions of or the termination of, or constitute default under, any
agreement to which you are a party or by which you are or may be bound, including,
but not limited to, any employment, confidentiality, non-competition or
non-solicitation agreement entered into between you and any previous employer. You
agree to indemnify and hold the Company harmless from and against any and all claims
for losses, liabilities, damages, costs and expenses which may arise or result from
the violation of any such judgment, writ, injunction or order or the breach of any
such agreement referred to in the immediately preceding sentence. You have
heretofore provided the Company with copies of any relevant, non-confidential
agreement referred to in (ii) above to which you are bound.
	 	 	 	 	 	 	 
	 	 	3.3	 	Remedies. Your duties under this Section 3 shall survive termination of your
employment with the Company. You acknowledge that a remedy at law for any breach or
threatened breach by you of the provisions of this Section would be inadequate, and you
agree that the Company shall be entitled to injunctive relief in case of any such
breach or threatened breach.
	 	 	 	 	 	 	 
	4.	 	Continuation Of Employment/Restrictive Covenant. During the term of your employment
and for a period of twelve (12) months immediately following your termination, you shall not,
without first obtaining the prior written approval of the Company, directly or indirectly engage or
prepare to engage, in any activities in competition with the Company, or accept a management-level
position or establish a business relationship (such as management consulting) with a business or
business unit over 50% of whose gross annual revenues arise from the collection, processing or sale
of remote sensing imagery products or services (including data extraction, imagery analysis and
production of imagery related products) in direct competition with the Company or solicit, induce
or otherwise cause any customers of the Company to terminate or reduce their relationship with the
Company. Such approval by the Company shall not be unreasonably withheld.
	 	 	 	 	 	 	 
	5.	 	Nonsolicitation. While employed by the Company, and for twelve (12) months immediately
following your termination, you agree not to interfere with the business of the
Company by soliciting, attempting to solicit, inducing, or otherwise causing any employees of the
Company to terminate his or her employment.
	 	 	 	 	 	 	 
	6.	 	Termination Of Employment.
	 	 	 	 	 	 	 
	 	 	(a) Either you or the Company may terminate your employment relationship at any time for any
legal reason whatsoever, or for no reason, with or without Cause or advance notice. This
at-will employment relationship cannot be changed except in a writing approved by the Board.
If the Company terminates your employment without Cause at

5

 

	 	 	 	 	 	 	 
	 	 	any time, or if you resign on
the grounds that the company has materially breached this agreement, you will receive as
Severance Benefits: (i) regular bi-weekly payments equal to your usual base salary, less
payroll deductions and required withholdings, for twelve (12) months (the “Severance
Period”), (ii) a payment of that portion of the bonus, if any, you are entitled to for
the calendar year based upon performance for such year pro-rated based upon the number of
full months you were employed in such year, payable at the time such amount would otherwise
have been due ((i) and (ii) are sometimes collectively referred to as the “Severance
Payments”), and (iii) continuation of all group health and life insurance benefits
during the Severance Period, in exchange for the execution of a release of all claims
against the Company in form satisfactory to the Company. Additionally, if you are
terminated by the Company without Cause, to the extent permitted by the Company’s 401(k)
plan you will become immediately vested and, as set forth in the separate agreements for the
stock awards listed in 2.5.1 and 2.5.2 above, any unvested portions of such grants will
immediately vest. If you resign voluntarily for any reason other than as specified above or
if your employment is terminated for Cause, all compensation and benefits will cease
immediately, and you will receive no Severance Benefits. Your “qualifying event” for
purposes of Section 4980B of the Internal Revenue Code of 1986, as amended (or any successor
provision thereto), shall be your termination of employment.
	 	 	 	 	 	 	 
	 	 	For purposes of this Agreement, “Cause” shall mean misconduct, including: (i)
commission of any felony or any crime involving moral turpitude or dishonesty; (ii)
participation in a fraud or act of dishonesty against the Company; (iii) willful breach or
gross negligence of the Company’s policies; (iv) intentional damage to the Company’s
property; (v) material breach of this Agreement; (vi) your failure or refusal in a material
respect to follow the reasonable policies or directions of the Company as specified by the
Chief Executive Officer or Board of Directors after being provided with notice of such
failure and an opportunity to cure within seven (7) days of receipt of such notice; (vii)
any other intentional act or omission which subjects the Company to substantial public
disrespect, scandal or ridicule or (viii) your failure to carry out the duties of your
position after being provided with notice of such failure and a reasonable opportunity to
cure. Disability shall not constitute Cause. For purposes of this Agreement,
“Disability” shall mean a disability that prevents you from substantially performing
your duties under this Agreement for a period of at least 45 consecutive days or 90
non-consecutive days within any 365-day period.
	 	 	 	 	 	 	 
	 	 	(b) In the event of death, the Company shall pay your designee any earned but unpaid salary
at the time of your death and, at the time such amount would otherwise have been due, a pro
rata portion of the bonus, if any, which may otherwise have been paid to you with respect to
the annual period in which the death occurs.
	 	 	 	 	 	 	 
	7.	 	General Provisions.
	 	 	 	 	 	 	 
	 	 	7.1	 	Employment At-Will. Please understand that your employment with the Company is “at will,”
meaning that you may terminate your employment with the Company at

6

 

	 	 	 	 	 	 	 
	 	 	 	 	any time and for any reason
whatsoever simply by notifying the Company. Likewise, the Company may terminate your employment at
any time and for any legal reason, or for no reason, with or without Cause or advance notice. This
at-will relationship cannot be changed, nor may this Agreement be amended, except in a writing
signed by the President, Chief Executive Officer or Board of Directors of the Company.
	 	 	 	 	 	 	 
	 	 	7.2	 	Notices. Any notices provided hereunder must be in writing and shall be deemed effective
upon the earlier of personal delivery (including by e-mail or by telecopy) or the third day after
mailing by first class mail, to the Company at its primary office location and to you at your
address as listed on the Company’s then current payroll records.
	 	 	 	 	 	 	 
	 	 	7.3	 	Severability. Whenever possible, each provision of this Agreement will be interpreted in
such manner as to be effective and valid under applicable law, but if any provision of this
Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law
or rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect any
other provision or any other jurisdiction, but this Agreement will be reformed, construed and
enforced in such jurisdiction as if such invalid, illegal or unenforceable provisions had never
been contained herein.
	 	 	 	 	 	 	 
	 	 	7.4	 	Waiver. If either party should waive any breach of any provisions of this Agreement, he,
she or it shall not thereby be deemed to have waived any preceding or succeeding breach of the same
or any other provision of this Agreement.
	 	 	 	 	 	 	 
	 	 	7.5	 	Complete Agreement. Please also understand that your acceptance of this Agreement should
not be based on any promises or representations other than those contained in this Agreement. Any
promises contrary to the terms specified in this Agreement are superseded by this Agreement. This
Agreement and any written option agreements between you and the Company constitute the entire
agreement between you and the Company and supersede any prior agreements between you and the
Company.
	 	 	 	 	 	 	 
	 	 	7.6	 	Successors and Assigns. This Agreement is intended to bind and inure to the benefit of
and be enforceable by you and the Company, and each party’s respective successors, assigns, heirs,
executors and administrators, except that you may not assign any of your duties hereunder and
neither party may assign any of its rights hereunder without the written consent of the other
party, which shall not be withheld unreasonably. The Company shall require any
successor (whether direct or indirect, by purchase, merger, consolidation, reorganization or
otherwise) to all or substantially all of the business and/or assets of the Company to execute an
agreement pursuant to which the successor expressly assumes all of the liabilities and obligations
of the Company hereunder and agrees to perform this Agreement in the same manner and to the same
extent the Company would be required to perform if no such succession had taken place. If any
successor declines to offer you employment, refuses to assume this Agreement or fails to perform
its obligations hereunder, you will be deemed terminated without Cause and will be entitled to the
Severance Payments.

7

 

	 	 	 	 	 	 	 
	 	 	7.7	 	Choice of Law. All questions concerning the construction, validity and interpretation of
this Agreement will be governed by the law of the Commonwealth of Virginia.
	 	 	 	 	 	 	 
	 	 	7.8	 	Survival. The following provisions of this Agreement shall survive the termination of
your employment and the assignment of this Agreement by the Company to any successor in interest or
other assignee: Section 2; Section 3; Section 4 and Section 5.
	 	 	 	 	 	 	 
	 	 	7.9	 	Injunctive Relief. You acknowledge that the restrictions set forth in Sections 3, 4 and 5
above are necessary to protect the Company’s confidential proprietary information and other
legitimate business interests and are reasonable in all respects, including duration, territory and
scope of activity restricted. You further acknowledge that the provisions of Sections 3, 4 and 5
hereof are essential to the Company, that the Company would not enter into this Agreement if it did
not include these provisions and that damages sustained by the Company as a result of a breach of
these provisions cannot be adequately remedied by damages, and You agree that the Company, in
addition to any other remedy it may have under this Agreement or at law, shall be entitled to
injunctive and other equitable relief to prevent or curtail any breach of Sections 3, 4, and 5 of
this Agreement. You agree that the existence of any claim or cause of action by you against the
Company or its affiliates, whether predicated on this Agreement or otherwise, shall not constitute
a defense to the enforcement by the Company of any of the provisions of Sections 3, 4, and 5
hereof.

8

 

     In Witness Whereof, the parties have executed this Agreement as of the day and year
first above written.

	 	 	 	 	 
	ORBIMAGE INC.

 	 	 
	By:  	 	 	 
	 	Name:  	Matthew M. O'Connell 	 	 
	 	Title:  	Chief Executive Officer 	 	 
	 
	EMPLOYEE:

 	 	 
	By:  	 	 	 
	 	Henry E. Dubois 	 	 
	 	 	 	 

9

 

	 	 	 	 	 

APPENDIX A

ANNUAL BONUS PERFORMANCE TARGETS

For each fiscal year, the annual bonus will be paid based on personal performance and the Company’s
performance measured against annual goals set by the CEO and Board of Directors (or the
compensation committee thereof) after consultation with you.

10exv10w14w2

 

Exhibit 10.14.2

[Execution Copy]

FIRST AMENDMENT AGREEMENT

          This First Amendment Agreement (“Amendment”) is executed as of the 17th day of
June, 2003, by and among Pier 1 Funding, L.L.C., a Delaware limited liability company, as
transferor (the “Transferor”), Pier 1 Imports (U.S.), Inc., a Delaware corporation, as servicer
(the “Servicer”), the “Class A Purchasers” parties to the Certificate Purchase Agreement referred
to below, and JPMorgan Chase Bank (as successor to Morgan Guaranty Trust Company of New York)
(“JPMorgan Chase”), as agent (in such capacity, the “Administrative Agent”).

W I T N E S S E T H:

          WHEREAS, the Transferor, the Servicer, the Class A Purchases named therein and the
Administrative Agent executed the Certificate Purchase Agreement dated as of September 4, 2001 (as
amended, supplemented or otherwise modified from time to time the “Purchase Agreement”);

          WHEREAS, the sole Class A Purchasers parties to the Purchase Agreement as of the date hereof
are Delaware Funding Corporation, as the Structured Investor, and JPMorgan Chase, as the sole
Committed Investor; and

          WHEREAS, the parties hereto have agreed to amend the Purchase Agreement on the terms and
conditions hereinafter set forth.

          NOW, THEREFORE, the parties hereto agree as follows:

          SECTION 1. Amendment of the Purchase Agreement. Effective on the date hereof and
subject to the satisfaction of the condition precedent set forth in Section 2 below, the Purchase
Agreement is hereby amended as follows:

     (a) The definition of “Commitment Expiration Date ” set forth in
Section 1.01 of the Purchase Agreement is hereby amended and restated in its
entirety to read as follows:

     “Commitment Expiration Date” shall mean, for each
Committed Investor, the earlier of (i) September 2, 2003, as such
date may be extended with respect to such Committed Purchaser from
time to time in accordance with Section 2.11 of this Agreement and
(ii) the Business Day specified by the Transferor by at least 30
days prior written notice to the Administrative Agent and each
Committed Investor.

 

 

     (b) The definition of “Structured Investor Event” set forth in Section
1.01 of the Purchase Agreement is deleted in its entirety.

          SECTION 2. Condition Precedent. This Amendment shall become effective as of the date
hereof upon the execution of this Amendment by all of the parties hereto and the execution and
delivery of the Consent to Amendment to Purchase Agreement attached hereto.

          SECTION 3. Miscellaneous.

          3.1 Ratification. As amended hereby, the Purchase Agreement is in all respects
ratified and confirmed and the Purchase Agreement as so supplemented by this Amendment shall be
read, taken and construed as one and the same instrument.

          3.2 Representation and Warranty. Each of the Transferor and the Servicer represents
and warrants that this Amendment has been duly authorized, executed and delivered by it and
constitutes its legal, valid and binding obligation, enforceable in accordance with its terms,
except as such enforceability may be limited by bankruptcy, insolvency, reorganization, fraudulent
transfer, moratorium or other similar laws affecting creditors’ rights generally and by general
principles of equity (regardless of whether such enforceability is considered in a proceeding at
law or in equity).

          3.3 Governing Law; Parties; Severability. This Amendment shall be governed by and
construed in accordance with the laws and decisions (as opposed to the conflicts of law provisions)
of the State of New York. Whenever in this Amendment there is a reference made to any of the
parties hereto, such reference shall also be a reference to the successors and assigns of such
party, including, without limitation, any debtor-in-possession or trustee. The provisions of this
Amendment shall be binding upon and shall inure to the benefit of the successors and assigns of the
parties hereto. Whenever possible, each provision of this Amendment shall be interpreted in such a
manner as to be effective and valid under applicable law, but if any provision of this Amendment
shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the
extent of such prohibition or invalidity without invalidating the remainder of such provision or
the remaining provisions of this Amendment.

          3.4 Counterparts. This Amendment may be executed in one or more counterparts, each
of which shall be deemed to be an original, but all of which together shall constitute one and the
same instrument.

2

 

          IN WITNESS WHEREOF, the Transferor, the Servicer and the Trustee have caused this Amendment to
be fully executed by their respective officers as of the day and year first above written.

	 	 	 	 	 	 	 
	 	 	PIER 1 FUNDING, L.L.C., as the Transferor	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

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

	 	By	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	DELAWARE FUNDING
CORPORATION, as 
the sole Structured Investor	 	 
	 
	 	 	 	 	 	 
	 	 	By JPMorgan Chase Bank, as attorney-in-fact	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	JPMORGAN CHASE BANK, as
the sole 
Committed
Investor and the Administrative Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

[Consent to Amendment to Purchase Agreement Attached]

3

 

CONSENT TO AMENDMENT TO PURCHASE AGREEMENT

          The undersigned, as the Trustee under the “Supplement” (as defined in the Certificate Purchase
Agreement dated as of September 4, 2001 (as heretofore amended, the “Purchase Agreement”), among
Pier 1 Funding, L.L.C., as the transferor, Pier 1 Imports (U.S.), Inc., as the servicer, the Class
A Purchasers named therein and JPMorgan Chase Bank (as successor to Morgan Guaranty Trust Company
of New York), as the administrative agent), hereby consents to the terms and conditions of the
First Amendment Agreement dated as of June 17, 2003, relating to the Purchase Agreement.

	 	 	 	 	 	 	 
	 	 	WELLS FARGO BANK
MINNESOTA, 
NATIONAL ASSOCIATION, as the Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

4

 

[Execution Copy]

SECOND AMENDMENT AGREEMENT

          This Second Amendment Agreement (“Amendment”) is executed as of the 2nd day of
September, 2003, by and among Pier 1 Funding, L.L.C., a Delaware limited liability company, as
transferor (the “Transferor”), Pier 1 Imports (U.S.), Inc., a Delaware corporation, as servicer
(the “Servicer”), the “Class A Purchasers” parties to the Certificate Purchase Agreement referred
to below, and JPMorgan Chase Bank (as successor to Morgan Guaranty Trust Company of New York)
(“JPMorgan Chase”), as agent (in such capacity, the “Administrative Agent”).

W I T N E S S E T H:

          WHEREAS, the Transferor, the Servicer, the Class A Purchases named therein and the
Administrative Agent executed the Certificate Purchase Agreement dated as of September 4, 2001 (as
amended, supplemented or otherwise modified from time to time the “Purchase Agreement”);

          WHEREAS, the sole Class A Purchasers parties to the Purchase Agreement as of the date hereof
are Delaware Funding Corporation, as the Structured Investor, and JPMorgan Chase, as the sole
Committed Investor; and

          WHEREAS, the parties hereto have agreed to amend the Purchase Agreement on the terms and
conditions hereinafter set forth.

          NOW, THEREFORE, the parties hereto agree as follows:

          SECTION 1. Amendment of the Purchase Agreement. Effective on the date hereof and
subject to the satisfaction of the condition precedent set forth in Section 2 below, the Purchase
Agreement is hereby amended as follows:

     (a) The definition of “Alternative Rate” set forth in Section 1.01 of
the Purchase Agreement is hereby amended to delete the reference therein to “1.00%
per annum” and repalce it with a reference ot “0.80% per annum.”

     (b) The followng new definition is added to Section 1.01 of the Purchase
Agreement in appropriate alphabetical position:

     “Adjusted Class A Purchase Limit” shall mean at any
time 102% of the Class A Purchase Limit at such time.

     (c) The definition of “Class A Projected Monthly Interest and Fees”
set forth in Section 1.01 of the Purchase Agreement is amended and restated in its
entirety to readas follows:

     “Class A Projected Monthly Interest and Fees” shall
mean, for any date of determination for any Monthly Period, the sum
of (i) one-twelfth of the product of the Class A Purchase Limit and

5

 

the Prime Rate as in effect on the first day of such Monthly
Period, plus (ii) one-twelfth of the product of the Class A Purchase
Limit and the Class A Utilization Fee Rate, plus (iii) one-twelfth
of the product of the Adjusted Class A Purchase Limit and the Class
A Facility Fee Rate, plus (iv) the aggregate of the Investor Default
Amounts for each theretofore elapsed day in such Monthly Period.

     (d) The definition of “Commitment Expiration Date” set forth in
Section 1.01 of the Purchase Agreement is amended and restated in its entirety to
read as follows:

     “Commitment Expiration Date” shall mean, for each
Committed Investor, the earlier of (i) August 31, 2004, as such date
may be extended with respect to such Committed Investor from time to
time in accordance with Section 2.11 of this Agreement and (ii) the
Business Day specified by the Transferor by at least 30 days prior
written notice to the Administrative Agent and each Committed
Investor.

     (e) Section 2.03(e) of the Purchase Agreement is amended and restated in its
entirety to read as follows:

     (e) The Administrative Agent shall be entitled to be paid, for
the account of the Class A Purchasers, but only to the extent funds
are then or thereafter become available therefor pursuant to the
Supplement in respect of Class A Monthly Interest and Fees, a
facility fee (the “Class A Facility Fee”) for each Interest
Accrual Period (or portion thereof) prior to the commencement of the
Amortization Period calculated at a rate per annum equal to the
Class A Facility Fee Rate in respect of the average daily Adjusted
Class A Purchase Limit during such Interest Accrual Period,
calculated on the basis of the actual number of days elapsed in a
year having 360 days. The Class A Facility Fee shall be payable on
each Distribution Date for the most recently completed Interest
Accrual Period and on the date of the termination of this Agreement.
Each Class A Purchaser shall be entitled to receive the share of
the Class A Facility Fee as may be agreed upon from time to time
between such Class A Purchasers and the Administrative Agent.

     (f) Section 7.11(a) of the Purchase Agreement is amended and restated in its
entirety to read as follows:

     (a) All notices and other communications provided for
hereunder shall be in writing (including telecopy or electronic
transmission) and, (i) if to Funding, Pier 1 or the Trustee, mailed,
telecopied, transmitted electronically, couriered or delivered to
it,

6

 

addressed to it at its address set forth in the Pooling and
Servicing Agreement (or, in the case of a telecopy to (x) Funding to
telecopier no. 817-252-7881, (y) Pier 1 to telecopier no.
817-252-7881 and (z) the Trustee to telecopier no. 612-667-3464,
and, in the case of electronic transmission to (x) Funding to
administrator@pier1.com, (y) Pier 1 to administrator@pier1.com, and
(z) the Trustee to sue.dignan@wellsfargo.com; (ii) if to DFC,
mailed, telecopied, transmitted electronically, couriered or
delivered to it, addressed to it at Delaware Funding Corporation,
c/o J H Management Corporation, One International Place, Room 608,
Boston, Massachusetts 02110-2624 (Attention: President)
or, in the case of telecopy, to telecopier no. 617-951-7050
(confirmation telephone no. 617-951-7000), with a copy to the
Administrative Agent; (iii) if to the Administrative Agent, mailed,
telecopied, transmitted electronically, couriered or delivered to
it, addressed to it at JPMorgan Chase Bank, Institutional Trust
Services, 4 New York Plaza, 6th Floor, New York, New York
10004 (Attention: Conduit Administration) or, in the case
of telecopy, to telecopier no. 212-623-5980 (confirmation telephone
no. 212-623-5370), or, in the case of electronic transmission, to
cpadmin@jpmorgan.com, with a copy to JPMorgan Chase Services, Inc.,
500 Stanton Christiana Road, Newark, Delaware 19713-2107
(Attention: Lisa Haines /2/CS) or, in the case of telecopy,
to telecopier no. 302-634-5490, (confirmation telephone no.
302-634-5494); or (iv) if to any other party, as such party may
direct in a written notice to the other parties. All such notices
and other communications shall, when mailed, be effective on the
fifth Business Day addressed as aforesaid thereafter or, if sent by
telecopier or electronic transmission, when transmitted (receipt
confirmed). Any party hereto may change the address, telecopier
number to which notices to it are to be sent by written notice given
to the other parties hereto.

          SECTION 2. Condition Precedent. This Amendment shall become effective as of the date
hereof upon the execution of this Amendment by all of the parties hereto and the execution and
delivery of the Consent to Amendment to Purchase Agreement attached hereto.

          SECTION 3. Miscellaneous.

          3.1 Ratification. As amended hereby, the Purchase Agreement is in all respects
ratified and confirmed and the Purchase Agreement as so supplemented by this Amendment shall be
read, taken and construed as one and the same instrument.

          3.2 Representation and Warranty. Each of the Transferor and the Servicer represents
and warrants that this Amendment has been duly authorized, executed and delivered by it and
constitutes its legal, valid and binding obligation, enforceable in accordance with its terms,
except as such enforceability may be limited by bankruptcy, insolvency, reorganization,

7

 

fraudulent transfer, moratorium or other similar laws affecting creditors’ rights generally
and by general principles of equity (regardless of whether such enforceability is considered in a
proceeding at law or in equity).

          3.3 Governing Law; Parties; Severability. This Amendment shall be governed by and
construed in accordance with the laws and decisions (as opposed to the conflicts of law provisions)
of the State of New York. Whenever in this Amendment there is a reference made to any of the
parties hereto, such reference shall also be a reference to the successors and assigns of such
party, including, without limitation, any debtor-in-possession or trustee. The provisions of this
Amendment shall be binding upon and shall inure to the benefit of the successors and assigns of the
parties hereto. Whenever possible, each provision of this Amendment shall be interpreted in such a
manner as to be effective and valid under applicable law, but if any provision of this Amendment
shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the
extent of such prohibition or invalidity without invalidating the remainder of such provision or
the remaining provisions of this Amendment.

          3.4 Counterparts. This Amendment may be executed in one or more counterparts, each
of which shall be deemed to be an original, but all of which together shall constitute one and the
same instrument.

8

 

          IN WITNESS WHEREOF, the Transferor, the Servicer and the Trustee have caused this Amendment to
be fully executed by their respective officers as of the day and year first above written.

	 	 	 	 	 	 	 
	 	 	PIER 1 FUNDING, L.L.C., as the Transferor	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

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

	 	By	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	DELAWARE FUNDING CORPORATION, as the sole

Structured Investor	 	 
	 
	 	 	 	 	 	 
	 	 	By JPMorgan Chase Bank, as attorney-in-fact	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	JPMORGAN CHASE BANK, as the sole Committed
Investor and the Administrative Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

[Consent to Amendment to Purchase Agreement Attached]

9

 

CONSENT TO AMENDMENT TO PURCHASE AGREEMENT

          The undersigned, as the Trustee under the “Supplement” (as defined in the Certificate Purchase
Agreement dated as of September 4, 2001 (as heretofore amended, the “Purchase Agreement”), among
Pier 1 Funding, L.L.C., as the transferor, Pier 1 Imports (U.S.), Inc., as the servicer, the Class
A Purchasers named therein and JPMorgan Chase Bank (as successor to Morgan Guaranty Trust Company
of New York), as the administrative agent), hereby consents to the terms and conditions of the
Second Amendment Agreement dated as of September 2, 2003, relating to the Purchase Agreement.

	 	 	 	 	 	 	 
	 	 	WELLS FARGO BANK
MINNESOTA, 
NATIONAL ASSOCIATION, as the Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

10

 

[Execution Copy]

THIRD AMENDMENT AGREEMENT

          This Third Amendment Agreement (“Amendment”) is executed as of the 31st day of
August, 2004, by and among Pier 1 Funding, L.L.C., a Delaware limited liability company, as
transferor (the “Transferor”), Pier 1 Imports (U.S.), Inc., a Delaware corporation, as servicer
(the “Servicer”), the “Class A Purchasers” parties to the Certificate Purchase Agreement referred
to below, and JPMorgan Chase Bank (as successor to Morgan Guaranty Trust Company of New York)
(“JPMorgan Chase”), as agent (in such capacity, the “Administrative Agent”).

W I T N E S S E T H:

          WHEREAS, the Transferor, the Servicer, the Class A Purchases named therein and the
Administrative Agent executed the Certificate Purchase Agreement dated as of September 4, 2001 (as
amended, supplemented or otherwise modified from time to time the “Purchase Agreement”);

          WHEREAS, the sole Class A Purchasers parties to the Purchase Agreement as of the date hereof
are Delaware Funding Company, LLC (as successor to Delaware Funding Corporation), as the Structured
Investor, and JPMorgan Chase, as the sole Committed Investor; and

          WHEREAS, the parties hereto have agreed to amend the Purchase Agreement on the terms and
conditions hereinafter set forth.

          NOW, THEREFORE, the parties hereto agree as follows:

          SECTION 1. Amendment of the Purchase Agreement. Effective on the date hereof and
subject to the satisfaction of the condition precedent set forth in Section 2 below, the Purchase
Agreement is hereby amended by amendeing and restating in its entirety the definition of
“Commitment Expiration Date” set forth in Section 1.01 of the Purchase Agreement to read as
follows:

     “Commitment Expiration Date” shall mean, for each Committed Investor,
the earlier of (i) August 30, 2005, as such date may be extended with respect to
such Committed Investor from time to time in accordance with Section 2.11 of this
Agreement and (ii) the Business Day specified by the Transferor by at least 30 days
prior written notice to the Administrative Agent and each Committed Investor.

          SECTION 2. Condition Precedent. This Amendment shall become effective as of the date
hereof upon the execution of this Amendment by all of the parties hereto and the execution and
delivery of the Consent to Amendment to Purchase Agreement attached hereto.

11

 

          SECTION 3. Miscellaneous.

          3.1 Ratification. As amended hereby, the Purchase Agreement is in all respects
ratified and confirmed and the Purchase Agreement as so supplemented by this Amendment shall be
read, taken and construed as one and the same instrument.

          3.2 Representation and Warranty. Each of the Transferor and the Servicer represents
and warrants that this Amendment has been duly authorized, executed and delivered by it and
constitutes its legal, valid and binding obligation, enforceable in accordance with its terms,
except as such enforceability may be limited by bankruptcy, insolvency, reorganization, fraudulent
transfer, moratorium or other similar laws affecting creditors’ rights generally and by general
principles of equity (regardless of whether such enforceability is considered in a proceeding at
law or in equity).

          3.3 Governing Law; Parties; Severability. This Amendment shall be governed by and
construed in accordance with the laws and decisions (as opposed to the conflicts of law provisions)
of the State of New York. Whenever in this Amendment there is a reference made to any of the
parties hereto, such reference shall also be a reference to the successors and assigns of such
party, including, without limitation, any debtor-in-possession or trustee. The provisions of this
Amendment shall be binding upon and shall inure to the benefit of the successors and assigns of the
parties hereto. Whenever possible, each provision of this Amendment shall be interpreted in such a
manner as to be effective and valid under applicable law, but if any provision of this Amendment
shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the
extent of such prohibition or invalidity without invalidating the remainder of such provision or
the remaining provisions of this Amendment.

          3.4 Counterparts. This Amendment may be executed in one or more counterparts, each
of which shall be deemed to be an original, but all of which together shall constitute one and the
same instrument.

12

 

          IN WITNESS WHEREOF, the Transferor, the Servicer and the Trustee have caused this Amendment to
be fully executed by their respective officers as of the day and year first above written.

	 	 	 	 	 	 	 
	 	 	PIER 1 FUNDING, L.L.C., as the Transferor	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

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

	 	By	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	DELAWARE FUNDING COMPANY, LLC (as successor to
Delaware Funding Corporation), as the sole
Structured Investor	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	JPMorgan Chase Bank, as attorney-in-fact for

Delaware Funding Company, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	JPMORGAN CHASE BANK, as the sole Committed
Investor and the Administrative Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

[Consent to Amendment to Purchase Agreement Attached]

13

 

CONSENT TO AMENDMENT TO PURCHASE AGREEMENT

          The undersigned, as the Trustee under the “Supplement” (as defined in the Certificate Purchase
Agreement dated as of September 4, 2001 (as heretofore amended, the “Purchase Agreement”), among
Pier 1 Funding, L.L.C., as the transferor, Pier 1 Imports (U.S.), Inc., as the servicer, the Class
A Purchasers named therein and JPMorgan Chase Bank (as successor to Morgan Guaranty Trust Company
of New York), as the administrative agent), hereby consents to the terms and conditions of the
Third Amendment Agreement dated as of August 31, 2004, relating to the Purchase Agreement.

	 	 	 	 	 	 	 
	 	 	WELLS FARGO BANK, NATIONAL ASSOCIATION (successor
by merger to Wells Fargo Bank Minnesota, National
Association), as the Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

14

 

[Execution Copy]

FOURTH AMENDMENT AGREEMENT

          This Fourth Amendment Agreement (“Amendment”) is executed as of the 30th day of
August, 2005, by and among Pier 1 Funding, L.L.C., a Delaware limited liability company, as
transferor (the “Transferor”), Pier 1 Imports (U.S.), Inc., a Delaware corporation, as servicer
(the “Servicer”), the “Class A Purchasers” parties to the Certificate Purchase Agreement referred
to below, and JPMorgan Chase Bank, N.A. (as successor to Morgan Guaranty Trust Company of New York)
(“JPMorgan Chase”), as agent (in such capacity, the “Administrative Agent”).

W I T N E S S E T H:

          WHEREAS, the Transferor, the Servicer, the Class A Purchases named therein and the
Administrative Agent executed the Certificate Purchase Agreement dated as of September 4, 2001 (as
amended, supplemented or otherwise modified from time to time the “Purchase Agreement”);

          WHEREAS, the sole Class A Purchasers parties to the Purchase Agreement as of the date hereof
are Delaware Funding Company, LLC (as successor to Delaware Funding Corporation), as the Structured
Investor, and JPMorgan Chase, as the sole Committed Investor; and

          WHEREAS, the parties hereto have agreed to amend the Purchase Agreement on the terms and
conditions hereinafter set forth.

          NOW, THEREFORE, the parties hereto agree as follows:

          SECTION 1. Amendment of the Purchase Agreement. Effective on the date hereof and
subject to the satisfaction of the condition precedent set forth in Section 2 below, the Purchase
Agreement is hereby amended by amending and restating in its entirety the definition of
“Commitment Expiration Date” set forth in Section 1.01 of the Purchase Agreement to read as
follows:

          “Commitment Expiration Date” shall mean, for each Committed Investor,
the earlier of (i) September 9, 2005, as such date may be extended with respect to
such Committed Investor from time to time in accordance with Section 2.11 of this
Agreement and (ii) the Business Day specified by the Transferor by at least 30 days
prior written notice to the Administrative Agent and each Committed Investor.

     SECTION 2. Condition Precedent. This Amendment shall become effective as of the
date hereof upon the execution of this Amendment by all of the parties hereto and the execution and
delivery of the Consent to Amendment to Purchase Agreement attached hereto.

15

 

          SECTION 3. Miscellaneous.

          3.1 Ratification. As amended hereby, the Purchase Agreement is in all respects
ratified and confirmed and the Purchase Agreement as so supplemented by this Amendment shall be
read, taken and construed as one and the same instrument.

          3.2 Representation and Warranty. Each of the Transferor and the Servicer represents
and warrants that this Amendment has been duly authorized, executed and delivered by it and
constitutes its legal, valid and binding obligation, enforceable in accordance with its terms,
except as such enforceability may be limited by bankruptcy, insolvency, reorganization, fraudulent
transfer, moratorium or other similar laws affecting creditors’ rights generally and by general
principles of equity (regardless of whether such enforceability is considered in a proceeding at
law or in equity).

          3.3 Governing Law; Parties; Severability. This Amendment shall be governed by and
construed in accordance with the laws and decisions (as opposed to the conflicts of law provisions)
of the State of New York. Whenever in this Amendment there is a reference made to any of the
parties hereto, such reference shall also be a reference to the successors and assigns of such
party, including, without limitation, any debtor-in-possession or trustee. The provisions of this
Amendment shall be binding upon and shall inure to the benefit of the successors and assigns of the
parties hereto. Whenever possible, each provision of this Amendment shall be interpreted in such a
manner as to be effective and valid under applicable law, but if any provision of this Amendment
shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the
extent of such prohibition or invalidity without invalidating the remainder of such provision or
the remaining provisions of this Amendment.

          3.4 Counterparts. This Amendment may be executed in one or more counterparts, each
of which shall be deemed to be an original, but all of which together shall constitute one and the
same instrument.

16

 

          IN WITNESS WHEREOF, the Transferor, the Servicer and the Trustee have caused this Amendment to
be fully executed by their respective officers as of the day and year first above written.

	 	 	 	 	 	 	 
	 	 	PIER 1 FUNDING, L.L.C., as the Transferor	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 

Name: J. Rodney Lawrence
	 	 
	 

	 	 	 	Title: Executive V.P. and Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	PIER 1 IMPORTS (U.S.), INC., as the Servicer	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 

Name: Charles H. Turner
	 	 
	 

	 	 	 	Title: Executive V.P. and CFO	 	 
	 
	 	 	 	 	 	 
	 	 	PARK AVENUE RECEIVABLES COMPANY, LLC (as
successor to Delaware Funding Company, LLC), as
the sole Structured Investor	 	 
	 
	 	 	 	 	 	 
	 	 	By JPMorgan Chase Bank, N.A., as attorney-in-fact	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	JPMORGAN CHASE BANK, N.A., as the sole Committed
Investor and the Administrative Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

[Consent to Amendment to Purchase Agreement Attached]

17

 

CONSENT TO AMENDMENT TO PURCHASE AGREEMENT

     The undersigned, as the Trustee under the “Supplement” (as defined in the Certificate Purchase
Agreement dated as of September 4, 2001 (as amended, the “Purchase Agreement”), among Pier 1
Funding, L.L.C., as the transferor, Pier 1 Imports (U.S.), Inc., as the servicer, the Class A
Purchasers named therein and JPMorgan Chase Bank, N.A. (as successor to JPMorgan Chase Bank), as
the administrative agent), hereby consents to the terms and conditions of the Fourth Amendment
Agreement dated as of August 30, 2005, relating to the Purchase Agreement.

	 	 	 	 	 	 	 
	 	 	WELLS FARGO BANK, NATIONAL ASSOCIATION (successor
by merger to Wells Fargo Bank Minnesota, National
Association), as the Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

18

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00102-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00102-of-00352.parquet"}]]