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PIR » Topics » ARTICLE I-PURPOSE

This excerpt taken from the PIR 10-Q filed Jan 7, 2009.

ARTICLE I—PURPOSE

 

The purpose of this Supplemental Retirement Plan (hereinafter referred to as the “Plan”) is to provide supplemental retirement benefits for a select group of management or highly compensated employees of Pier 1 Imports, Inc. It is intended that the Plan will aid in retaining and attracting employees of exceptional ability by providing such individuals with these benefits. This Plan was originally effective as of September 28, 1995, was restated effective as of December 5, 2002, was restated effective as of January 1, 2005, was amended effective as of January 1, 2006, and now is restated effective January 1, 2009.  The purpose of this January 1, 2009 restatement is to cause the Plan to continue to comply with the requirements of Sections 409A(a)(2), (3) and (4) of the Code and the Regulations promulgated thereunder.  The Plan is to be construed and interpreted in accordance with such purpose.  The accrual of benefits for Participants who have terminated employment with the Employer will be governed by the provisions of the Plan as in effect on the date of their termination.

 

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