Pier 1 Imports 8-K Entry into a Material Definitive Agreement

Exhibit 10.1

Executive Officer Equity Compensation Summary

	Restricted Stock*		Restricted Stock*
	(Performance Vesting)		(TimeVesting)		Stock Options*
Executive Officer	(#)		(#)		(#)
Marvin J. Girouard Chairman and Chief Executive Officer		—		—		300,000
Charles H. Turner Executive Vice President, Finance, Chief Financial Officer and Treasurer		12,000		11,000		30,000
Jay R. Jacobs Executive Vice President, Merchandising		12,000		11,000		30,000
E. Mitchell Weatherly Executive Vice President, Stores		12,000		11,000		30,000
Phil E. Schneider Executive Vice President, Marketing		12,000		11,000		30,000
David A. Walker Executive Vice President, Logistics and Allocations		12,000		11,000		30,000

Non-Employee Director Equity Compensation Summary

Each Non-Employee Director of Pier 1 Imports, Inc. was granted, effective June 23, 2006, 6,000 options to purchase shares of the Company’s common stock.*

* All equity awards were granted under the Pier 1 Imports, Inc. 2006 Stock Incentive Plan. The exercise price of all options granted June 22, 2006 and effective June 23, 2006 to the named Executive Officers and the non-employee directors is $7.55 which is the NYSE closing price on Friday, June 23, 2006 of the Company’s common stock.