Document:

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                                                               EXHIBIT 10.(iii)e

                       EMPLOYMENT AND CONSULTING AGREEMENT

THIS EMPLOYMENT AND CONSULTING AGREEMENT (hereinafter referred to as the
"Agreement"), dated as of the 7th day of June, 2002, by and between Marvin Selig
(hereinafter referred to as "Selig"), a resident of San Antonio, Texas, and
Commercial Metals Company (hereinafter referred to as "CMC", which term shall
include all of CMC's direct or indirect subsidiary companies), a Delaware
corporation,

                                   WITNESSETH:

WHEREAS Selig has served in several capacities with CMC for fifty two years
including service since 1964 as a Director of CMC and, most recently, as
Chairman of the Board of the CMC Steel Group, such service periodically pursuant
to various written and oral employment and related compensation agreements and
contracts (all such agreements and contracts previously entered into between
Selig and CMC being referred to collectively as the "Old Contracts"); and

WHEREAS Selig and CMC desire to enter into an agreement providing for (i) the
resignation of Selig as a Director and officer of CMC and subsidiaries effective
immediately, (ii) his retirement, effective at the conclusion of CMC's current
fiscal year, as an employee of Structural Metals, Inc. ("SMI") and (iii) his
continuing availability, following retirement, to provide consulting services to
CMC;

NOW, THEREFORE, for and in consideration of the premises and the mutual
covenants and promises contained herein, CMC and Selig agree as follows:

                          I. STATUS, TITLE AND SUPPORT

A. RESIGNATION AS A DIRECTOR AND RETIREMENT AS AN EMPLOYEE. Effective as of the
date of this Agreement, Selig resigns as a Director and officer of CMC and from
all other positions as a director or officer of any CMC subsidiary, execution of
this Agreement constituting notice and acceptance of such resignation. From the
date of this Agreement until September 1, 2002, Selig shall continue his status
as an employee of SMI. Effective September 1, 2002 Selig shall retire thereby
terminating his employment with SMI, execution of this Agreement evidencing
notice of such retirement and termination of employment effective as of
September 1, 2002.

B. TITLE. Effective as of the date of this Agreement and for so long as he shall
live, Selig shall hold the honorary title of Chairman Emeritus of the CMC Steel
Group.

C. NECESSARY SUPPORT AND ENVIRONMENT. During the term of this Agreement, Selig
shall be provided secretarial assistance utilizing his current secretary to the
extend she remains in the employment of SMI and the continued use of the
private, furnished office he presently maintains at SMI as reasonably necessary
for him to carry out those duties and responsibilities which he may be assigned
pursuant to this Agreement.

                             II. SELIG'S OBLIGATIONS

A. DUTIES. From the date of this Agreement and for the remainder of Selig's
employment period and the consulting period, Selig shall perform such duties and
discharge such responsibilities consistent with his status as former Chairman of
the CMC Steel Group and with due consideration for his health as may be from
time to time designated by the Board of Directors or the President and Chief
Executive Officer of CMC. Selig shall not be obligated to spend any specific
amount of time in the performance of his duties.

B. NON-COMPETITION. Selig recognizes and acknowledges that in performing the
duties and responsibilities of his consulting duties under this Agreement and
pursuant to his employment at CMC and his position as a Director, Selig has
occupied and will occupy a position of trust and confidence, pursuant to which
Selig has developed and acquired and will develop and acquire

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experience and knowledge with respect to various aspects of the business of CMC
and the manner in which such business is conducted. It is the expressed intent
and agreement of the Selig and CMC that such knowledge and experience shall be
used only in the furtherance of the business interests of CMC and not in any
manner which would be detrimental to such business interests of CMC. Selig
therefore agrees that, during the term of this Agreement and for a period of two
years thereafter, unless he first secures the consent of the Board of Directors
of CMC, Selig will not invest, engage or participate in any manner whatsoever,
either personally or in any status or capacity (other than as a shareholder of
less than five percent [5%] of the capital stock of a publicly owned
corporation), in any business or other entity organized for profit engaged in
competition with CMC businesses as such businesses may be conducted at any time
during the term of this Agreement or within the five years prior to the date of
this Agreement including but not limited to the businesses of steel
manufacturing, steel fabrication, scrap processing and marketing and trading of
metals anywhere in the States of Texas, Arkansas, Alabama, South Carolina,
Louisiana, New Mexico, Nevada, California, Pennsylvania, Georgia, Florida, Iowa,
North Carolina, Virginia, Utah, Mississippi, Missouri, Tennessee and New Jersey.
Although Selig and CMC regard such restrictions as reasonable for the purpose of
preserving the assets of CMC and its proprietary rights, in the event that the
provisions of this Paragraph II-B should ever be deemed to exceed the time or
geographic limitations permitted by applicable laws, then such provisions shall
be reformed to the maximum time or geographic limitations permitted by
applicable laws.

                                    III. TERM

A. TERM. This Agreement shall be effective as of the date hereof and the period
of Selig's engagement as a consultant pursuant to this Agreement shall commence
September 1, 2002. and shall expire on December 31, 2004,unless terminated
pursuant to the provisions of Article V.

                                IV. COMPENSATION

A. AS AN EMPLOYEE. From the date of this Agreement through August 31, 2002,
Selig shall continue to receive his existing salary of Thirty Two Thousand Five
Hundred Dollars ($32,500) a month.

B. AS A CONSULTANT. As compensation for the consulting services to be rendered
pursuant to this Agreement, Selig shall be paid a fee of Twenty Thousand Eight
Hundred Thirty Three Dollars and thirty four cents ($20,833.34) on or before the
first business day of each month commencing with the month of September, 2002,
and ending with the payment for the month of December, 2004. It is the intent of
the parties that this monthly consulting fee shall be paid to Selig as an
independent contractor and Selig shall not be considered an employee of SMI or
CMC for any purpose after August 31, 2002.

C. SUPPLEMENTAL RETIREMENT BENEFIT. By letter agreement dated October 11, 1999
and agreed to by Selig on October 13, 1999, (hereinafter the "Supplemental
Agreement"), CMC agreed to pay Selig the sum of One Million Dollars
($1,000,000.00) plus interest as provided therein fifteen days following his
retirement from employment on or before December 31, 2004. Selig and CMC agree
that as of April 30, 2002, that sum, including interest credited through April
30, 2002, was One Million One Hundred Thirty Three Thousand Six Hundred Seventy
Four Dollars and ninety-nine cents ($1,133,674.99). CMC shall make payment of
that amount with additional interest as provided for in the Supplemental
Agreement through the end of the month prior to retirement within 15 days
following Selig's retirement or other termination of employment.

D. OTHER BONUS AND BENEFIT PLANS. Selig shall be eligible to continue to
participate in all SMI profit-sharing, group insurance and other benefit plans
or programs in effect for SMI managerial employees generally by virtue of his
continued employment status through August 31, 2002, including participation in
CMC's Key Employee Annual Incentive Bonus Plan, Long-

Term Performance Plan and Benefit Restoration Plan for the period ending August
31, 2002. Selig's participation in all other employee benefit plans shall
terminate effective August 31, 2002,

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or at such subsequent date as may be provided according to the terms and
conditions of such plans. CMC shall reimburse Selig for reasonable expenses
incurred by him in the performance of his duties and responsibilities hereunder.

F. TERMINATION OF OLD CONTRACTS. Selig and CMC agree that all rights, duties,
obligations and payments due or arising under the Old Contracts, with the
exception of the Supplemental Agreement, have been completed by both parties and
any and all claims, if any, arising from Old Contracts, except for the
Supplemental Agreement, are hereby expressly released.

G. AUTOMOBILE. On or before September 10, 2002, CMC shall cause SMI to convey to
Selig, free and clear of liens, title to the 2001 Lincoln Navigator vehicle
currently used by Selig. SMI shall determine the fair market value of the
vehicle at the time of transfer and include such amount in Selig's compensation
in accordance with SMI's customary procedures. Selig shall be responsible for
payment of all taxes resulting from the transfer of ownership of the vehicle.

                            V. TERMINATION PROVISIONS

A. EXPIRATION OR DEATH. Selig's employment or service as a consultant hereunder
shall terminate upon Selig's death without further obligation or liability of
either party hereunder, provided that in the event Selig dies before September
1, 2002, the effective date of his retirement and termination as an employee of
SMI, CMC shall pay Selig an amount equal to but in lieu of and without
duplication of that amount which Selig would have been entitled to receive
pursuant to the Supplemental Agreement had his retirement and termination of
employment occurred as of the day prior to the date of his death.

B. TERMINATION FOR CAUSE. CMC may terminate Selig's employment or consulting
services hereunder at any time ten (10) days following delivery of written
notice to Selig of consideration of such action upon the determination by a
majority of its whole Board of Directors that the Selig has willfully failed and
refused to perform his duties and to discharge his responsibilities hereunder
and Selig fails to cure such failure and refusal within the ten (10) day period
following his receipt of such notice. Such determination shall be final and
conclusive. If the Board of Directors of CMC makes such determination, CMC may
(a) terminate Selig's employment or consulting services effective immediately or
at a subsequent date, or (b) condition his continued employment or rendition of
consulting services upon specific requirements reasonable under the
circumstances and place a reasonable limitation upon the time within which Selig
shall comply with such requirements. If termination is so effected, CMC shall
have no further liability to Selig hereunder.

C. TERMINATION OF EMPLOYMENT. Selig's employment hereunder shall terminate
forthwith upon his retirement as an employee prior to September 1, 2002, without
further obligation or liability of either party with respect to such employment,
except for CMC's obligation to pay to Selig all unpaid amounts accruing on or
prior to September 1, 2002, including without limitation the amount then due
Selig pursuant to the Supplemental Agreement.

                                VI. MISCELLANEOUS

A. ASSIGNABILITY, ETC. The rights and obligations of CMC hereunder shall inure
to the benefit of and shall be binding upon the successors and assigns of CMC.
This Agreement is personal to Selig and may not be assigned by him.

B. NO WAIVERS. Failure to insist upon strict compliance with any provision
hereof shall not be deemed a waiver of such provision or any other provision
hereof.

C. AMENDMENTS. This Agreement may not be modified except by an agreement in
writing executed by the parties hereto.

D. NOTICES. Any notice required or permitted to be given under this Agreement
shall be in writing and shall be deemed to have been given to the person
affected by such notice when

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personally delivered or when deposited in the United States mail, certified
mail, return receipt requested and postage prepaid, and addressed to the party
affected by such notice at the address indicated on the signature page hereof.

E. SEVERABILITY. The invalidity or unenforceability of any provision hereof
shall not affect the validity or enforceability of any other provision hereof.

F. COUNTERPARTS. This Agreement may be executed in multiple counterparts, each
of which shall be deemed an original but all of which taken together shall
constitute a single instrument.

G. ENTIRE AGREEMENT. This Agreement contains all of the terms and conditions
agreed upon by the parties hereto respecting the subject matter hereof, and all
other prior agreements, oral or otherwise, regarding the subject matter of this
Agreement shall be deemed to be superseded as of the date of this Agreement and
not to bind either of the parties hereto.

H. GOVERNING LAW. This Agreement shall be subject to and governed by the laws of
the State of Texas.

IN WITNESS WHEREOF, Selig has set his hand hereto and CMC has caused this
Agreement to be signed in its corporate name and behalf by one of its officers
thereunto duly authorized, and its corporate seal to be affixed hereunto, all as
of the day and year first above written.

                                            COMMERCIAL METALS COMPANY

                                            By: /s/Stanley A. Rabin
                                               --------------------
                                                Stanley A. Rabin
                                                Chairman, President & CEO
ATTEST:

/s/ David M. Sudbury
--------------------
David M. Sudbury
Secretary

                                            MARVIN SELIG

                                            /s/ Marvin Selig
                                            ----------------
                                            Address: 7114 Poniente
                                                     San Antonio, Texas, 78209<PAGE>
                                                                 EXHIBIT 10.14.3

                      SECOND AMENDMENT TO CREDIT AGREEMENT

         THIS DOCUMENT is entered into as of April 6, 2000, between PIER 1
IMPORTS, INC., a Delaware corporation ("BORROWER", those Lenders (defined below)
who have signed a signature page to this document, BANK OF AMERICA, N.A.
(formerly NationsBank, N.A., as Administrative Agent for Lenders), and BANK ONE,
N.A., (assignee of Bank One, Texas, N.A.) and WELLS FARGO BANK (TEXAS), NATIONAL
ASSOCIATION, as Co-Agents for Lenders.

         Borrower, Lenders, Administrative Agent, and Co-Agents are party to the
Credit Agreement (as it may have been renewed, extended, and amended through the
date of this document, the "CREDIT AGREEMENT") dated as of November 12, 1998.
Borrower and certain Lenders have agreed, upon the following terms and
conditions, to amend the Credit Agreement as provided in PARAGRAPH 2 below.
Accordingly, for adequate and sufficient consideration, Borrower, Required
Lenders, and Administrative Agent agree as follows:

         1. TERMS AND REFERENCES. Unless otherwise stated in this document (A)
terms defined in the Credit Agreement have the same meanings when used in this
document and (B) references to "SECTIONS," "SCHEDULES," and "EXHIBITS" are to
the Credit Agreement's sections, schedules, and exhibits.

         2. AMENDMENT. The definition of "Restricted Payment" in SECTION 1.1 is
entirely amended as follows:

                  "RESTRICTED PAYMENT" means (a) Distributions that are not
         Permitted Distributions, (b) Investments that are not Permitted
         Investments, (c) prepayments or purchases of any subordinated Debt of
         the Companies before the respective scheduled maturity dates that
         exceed a total of $50,000,000, and (d) payments of the purchase price
         for purchases of issued and outstanding common stock of Borrower in
         excess of the lesser of (i) 4,764,450 shares or (ii) the aggregate
         number of shares of stock which can be purchased for an aggregate
         purchase price not to exceed $50,000,000.

         3. CONDITIONS PRECEDENT. Notwithstanding any contrary provision, the
foregoing paragraph is not effective unless and until (A) the representations
and warranties in this document are true and correct and (B) Administrative
Agent receives (1) counterparts of this document executed by Borrower, Required
Lenders, and each Guarantor, (2) officer's certificates executed by officers of
Borrower and each Guarantor, certifying to incumbency of certain officers and
certifying that there have been no changes to the articles of incorporation and
bylaws, or other appropriate formation documents, as applicable, of each
Company, (3) a $5,000.00 amendment fee for each Lender who has executed the
document and delivered it to Administrative Agent by 1:00 p.m. Dallas time on
April 6, 2000, which Administrative Agent shall promptly pay to such Lenders
upon closing of this amendment, and (4) payment of fees of counsel to
Administrative Agent.

         4. RATIFICATIONS. To induce Lenders to enter into this document,
Borrower (A) ratifies and confirms all provisions of the Credit Documents as
amended by this document, (B) ratifies and confirms that all guaranties, and
assurances granted, conveyed, or assigned to Administrative Agent or any Lender
under the Credit Documents (as they may have been renewed, extended, and
amended) are not released, reduced, or otherwise adversely affected by this
document and continue to guarantee and assure full payment and performance of
the present and future Obligation, and (C) agrees to perform those acts and duly
authorize, execute, acknowledge, deliver, file, and record those additional
documents, and certificates as Administrative Agent or any Lender may request in
order to create, perfect, preserve, and protect those guaranties, and
assurances.

         5. REPRESENTATIONS. To induce Lenders to enter into this document,
Borrower represents and warrants to Lenders that as of the date of this document
(A) all representations and warranties in the Credit

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Documents are true and correct in all material respects except to the extent
that (1) any of them speak to a different specific date or (2) the facts on
which any of them were based have been changed by transactions contemplated or
permitted by the Credit Agreement, and (B) no Material-Adverse Event, Event of
Default, or Potential Default exists.

         6. EXPENSES. Borrower shall pay all costs, fees, and expenses paid or
incurred by Administrative Agent incident to this document, including, without
limitation, the reasonable fees and expenses of Administrative Agent's counsel
in connection with the negotiation, preparation, delivery, and execution of this
document and any related documents.

         7. MISCELLANEOUS. All references in the Credit Documents to the "Credit
Agreement" refer to the Credit Agreement as amended by this document. This
document is a "Credit Document" referred to in the Credit Agreement; therefore,
the provisions relating to Credit Documents in SECTIONS 1 and 14 are
incorporated in this document by reference. Except as specifically amended and
modified in this document, the Credit Agreement is unchanged and continues in
full force and effect. This document may be executed in any number of
counterparts with the same effect as if all signatories had signed the same
document. All counterparts must be construed together to constitute one and the
same instrument. This document binds and inures to each of the undersigned and
their respective successors and permitted assigns, subject to SECTION 14.10.
THIS DOCUMENT AND THE OTHER CREDIT DOCUMENTS REPRESENT THE FINAL AGREEMENT
BETWEEN THE PARTIES IN RESPECT OF THE MATTERS COVERED BY THE CREDIT DOCUMENTS
AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT
ORAL AGREEMENTS BY THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN
THE PARTIES.

                     REMAINDER OF PAGE INTENTIONALLY BLANK.
                             SIGNATURE PAGES FOLLOW.

<PAGE>

         EXECUTED as of the date first stated above in this Second Amendment to
Credit Agreement.

<Table>
<S>                                                          <C>
PIER 1 IMPORTS, INC., as Borrower                            BANK OF AMERICA, N.A., (formerly NationsBank,
                                                             N.A.), as Administrative Agent and a Lender

By       /s/ Charles H. Turner                               By       /s/ Kimberley Whitney
         Charles H. Turner,                                           Kimberley Whitney, Managing Director
         SVP-Finance/CFO/Treasurer

BANK ONE, N.A., (assignee of Bank One, Texas,                WELLS FARGO BANK (TEXAS), NATIONAL ASSOCIATION, as
N.A.), as a Co-Agent and a Lender                            a Co-Agent and a Lender

By       /s/ David E. Williams                               By       /s/ Susan B. Sheffield
         David E. Williams, First Vice President                      Susan Sheffield, Vice President

THE BANK OF TOKYO-MITSUBISHI, LTD., as a Lender              CHASE BANK OF TEXAS, NATIONAL ASSOCIATION, as a
                                                             Lender

By       /s/ John M. Mearns                                  By       /s/ B.B. Wuthrich
         John M. Mearns, Vice President                               B.B. Wuthrich, Vice President

FLEET NATIONAL BANK, as a Lender                             CREDIT LYONNAIS, NEW YORK BRANCH, as a Lender

By       /s/ Judith C.E. Kelly                               By       /s/ Philippe Soustra
         Judith C.E. Kelly, Vice President                            Philippe Soustra, Senior Vice President

</Table>

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                              CONSENT AND AGREEMENT

         To induce Lenders to enter into this document, the undersigned jointly
and severally (a) consent and agree to this document's execution and delivery,
(b) ratify and confirm that all guaranties, assurances, and subordinations
granted, conveyed, or assigned to Administrative Agent or any Lender under the
Credit Documents (as they may have been renewed, extended, and amended) are not
released, diminished, impaired, reduced, or otherwise adversely affected by this
document and continue to guarantee, assure, and subordinate other debt to the
full payment and performance of all present and future Obligation, (c) agree to
perform those acts and duly authorize, execute, acknowledge, deliver, file, and
record those additional guaranties, and other agreements, documents,
instruments, and certificates as Lender may reasonably deem necessary or
appropriate in order to create, perfect, preserve, and protect those guaranties,
assurances, and subordinations, and (d) waive notice of acceptance of this
consent and agreement, which consent and agreement binds the undersigned and
their successors and permitted assigns and inures to each Lender and its
successors and permitted assigns.

<Table>
<S>                                          <C>
PIER 1 SERVICES COMPANY,                     PIER 1 ASSETS, N.C.
as a Guarantor                               PIER 1 LICENSING, INC.
                                             PIER 1 HOLDINGS, INC.
By:      PIER 1 HOLDINGS, INC.,              PIER 1 IMPORTS, (U.S.), INC., as Guarantor
         Managing Trustee

         By       /s/ Charles H. Turner      By       /s/ Charles H. Turner
                  Charles H. Turner,                  Charles H. Turner,
                  Senior VP and CFO                   Senior VP and CFO
</Table>

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