SEC Contract Filing

Filing Date: 2017-07-05

Document Content:
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<TYPE>EX-10.4
<SEQUENCE>2
<FILENAME>d363844dex104.htm
<DESCRIPTION>EX-10.4
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<TITLE>EX-10.4</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.4</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RESTRICTED STOCK AWARD AGREEMENT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MAY&nbsp;1, 2017 T<SMALL>IME</SMALL>-B<SMALL>ASED</SMALL> A<SMALL>WARD</SMALL> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS RESTRICTED STOCK AWARD AGREEMENT (&#147;<U>Agreement</U>&#148;) is made effective and entered into as of May&nbsp;1, 2017,<B> </B>by and
between PIER 1 IMPORTS, INC., a Delaware corporation (the &#147;<U>Company</U>&#148;), and Terry E. London (the &#147;<U>Grantee</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, pursuant to the provisions of the Pier&nbsp;1 Imports, Inc. 2015 Stock Incentive Plan (the &#147;<U>Plan</U>&#148;), the Committee
that administers the Plan has the authority to grant Awards under the Plan to members of the Company&#146;s Board of Directors (the &#147;<U>Board</U>&#148;); and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, in recognition of the Grantee&#146;s past service as Chairman of the Board, and in order to provide additional incentive to continue
to serve as Chairman of the Board during a critical period of transition for the Company, 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;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, the Company and the Grantee hereby agree as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Grant of Award</U>. The Grantee is hereby granted a Restricted Stock Award under the Plan (this &#147;<U>Award</U>&#148;), subject to
the terms and conditions hereinafter set forth, with respect to One Hundred <FONT STYLE="white-space:nowrap">Forty-Two</FONT> Thousand Eight Hundred Fifty-Seven (142,857) restricted shares of Common Stock. Restricted shares of Common Stock covered
by this Award shall be represented by a stock certificate registered in the Grantee&#146;s name, or by uncertificated shares designated for the Grantee in book-entry form on the records of the Company&#146;s transfer agent, subject to the
restrictions set forth in this Agreement. Any stock certificate issued shall bear the following or a similar legend: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">&#147;The
transferability of this certificate and the shares of Common Stock represented hereby are subject to the terms, conditions and restrictions (including forfeiture) contained in the Pier 1 Imports, Inc. 2015 Stock Incentive Plan and the Restricted
Stock Award 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, Fort Worth, Texas 76102.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Any Common Stock certificates or book-entry uncertificated shares 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 any certificated restricted shares
of Common Stock covered by this Award. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U>Transfer Restrictions</U>. Except as expressly provided herein, this Award and the restricted
shares of Common Stock issued with respect to this Award are <FONT STYLE="white-space:nowrap">non-transferable</FONT> 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, this Award shall immediately become null and void and the restricted
shares of Common Stock relating thereto shall be forfeited. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-1- </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. <U>Restrictions</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Regular Vesting</U>. The restrictions on the shares of Common Stock covered by this Award shall lapse and such shares shall vest at the
rate of (i)&nbsp;forty percent (40%) of such shares on first anniversary date of grant of this Award, (ii)&nbsp;forty percent (40%) of such shares on the second anniversary date of grant of this Award, and (iii)&nbsp;twenty percent (20%) of such
shares on the third anniversary of the date of grant of this Award, provided, in each case, that the Grantee is then still serving as a member of the Company&#146;s Board. </P>
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