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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Cpi Corp. Common Stock | NYSE:CPY | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.19 | 0.00 | 01:00:00 |
Delaware
(State or other jurisdiction of incorporation or organization)
1706 Washington Ave., St. Louis, Missouri
(Address of principal executive offices)
|
43-1256674
(I.R.S. Employer Identification No.)
63103
(Zip Code)
|
Title of each class
Common Stock, par value $0.40 per share
|
Name of each exchange on which registered
New York Stock Exchange
|
PART III
|
Page
|
||
Item 10
.
|
Directors, Executive Officers and Corporate Governance
|
3
|
|
Item 11
.
|
Executive Compensation
|
6
|
|
Item 12
.
|
Security Ownership of Certain Beneficial Owners and Management
and Related Stockholder Matters
|
17
|
|
Item 13
.
|
Certain Relationships and Related Transactions, and Director Independence
|
18
|
|
Item 14
.
|
Principal Accounting Fees and Services
|
19
|
|
PART IV
|
|||
Item 15
.
|
Exhibits and Financial Statement Schedules
|
19
|
|
24
|
|||
Name
|
Principal Occupation, Business Experience and Directorships
|
James J. Abel
|
Mr. Abel, age 64, served as President and Chief Executive Officer of Financial Executives International (FEI) from May 2008 to February 2009. FEI is the preeminent organization representing senior financial executives in dealing with the regulatory agencies involved with corporate financial reporting and internal controls. Mr. Abel retired on December 31, 2007, from positions of Executive Vice President, Secretary, Treasurer and Chief Financial Officer of The Lamson & Sessions Co., a diversified manufacturer and distributor of a broad line of thermoplastic electrical, consumer, telecommunications and engineered sewer products for major domestic markets. Mr. Abel served as an executive officer of The Lamson & Sessions Co. from December 1990 and a director from 2000 until his retirement. Mr. Abel received a B.S. from Purdue University and an MBA from St. John’s University (N.Y.). The Board concluded that Mr. Abel brings the requisite skills and experience to serve as a director of the Company, particularly in the areas of financial expertise and executive management experience, through his positions held at FEI and The Lamson & Sessions Co. and as the audit committee financial expert with the Company, outside board experience, through his director positions at The Lamson & Sessions Co. and with various private U.S. companies and non-profit organizations and retail industry and public company experience, through his service as a director of the Company since 2004.
|
Michael Glazer
|
Mr. Glazer, age 62, has served as President and Chief Executive Officer of Mattress Giant Corporation, a specialty bedding retailer, since October 2009. From August 2005 to October 2009, he served as Managing Director of Team Neu, a private equity investment firm, located in Pittsfield, MA. From May 1996 to August 2005, he served as President and Chief Executive Officer of KB Toys, Inc. He has served as director of Stage Stores (NYSE: SSI) since 2001 and served as a director of Big Lots (NYSE: BIG) from 1991 to 2003 and Brookstone and KB Toys, Inc. from 1996 to 2005. Mr. Glazer received a B.A. from the University of California – Berkeley and an MBA from Columbia University. The Board concluded that Mr. Glazer brings the requisite skills and experience to serve as a director of the Company, particularly in the areas of retail industry experience, in which he has more than 35 years of leadership experience, including his positions held at Mattress Giant Corporation, KB Toys, Inc., Big Lots, the Bombay Company (formerly listed on the NYSE) and as a director of the Company since 2008, outside board experience, through his director positions at Stage Stores, Brookstone, KB Toys, Inc. and Big Lots, public company experience, through his positions held at Stage Stores, Big Lots and as a director of the Company and executive management experience, through his positions held at Mattress Giant Corporation, Team Neu, KB Toys, Inc., Big Lots and the Bombay Company.
|
Michael Koeneke
|
Mr. Koeneke, age 63, is a Managing Partner and Co-founder of Knightspoint Partners LLC (“Knightspoint”), a private equities firm established in 2003, which is engaged in the business of acquiring, holding or disposing of investments in various companies. He served on the Board of Directors of Ashworth, Inc., a golf apparel company formerly listed on Nasdaq from 2008 to 2009, and on the Board of Directors of Sharper Image Corporation, a multi-channel specialty retailer formerly listed on Nasdaq from 2006 to 2008. Mr. Koeneke was formerly the Co-Head and then Chairman of Global Mergers and Acquisitions at Merrill Lynch & Co., Inc. (“Merrill Lynch”) from 1997 to 2002, and Head of Mergers and Acquisitions at Credit-Suisse First Boston (“CSFB”) from 1989 to 1993. Mr. Koeneke received a B.A. from the University of Michigan and an MBA from the Harvard Business School. The Board concluded that Mr. Koeneke brings the requisite skills and experience to serve as a director of the Company, particularly in the areas of executive management experience, through his positions held at Knightspoint, Merrill Lynch and CSFB, as well as his experiences in the retail industry, public company and outside boards through his director positions at Ashworth, Inc., the Sharper Image Corporation, and currently, as a director of the Company since 2004.
|
Turner White
|
Mr. White, age 61, has served as owner of White and Company, LLC, a consulting and investment firm located in Kansas City, Missouri, since May 2004, and as visiting assistant professor of management, Helzberg School of Management, Rockhurst University in Kansas City, Missouri, since July 2006. From May 2000 to May 2004, Mr. White served as President and Chief Executive Officer of Union Station Kansas City, Inc. He was Vice President and East region general manager of Cell Net Data Systems, an investor-owned data management and metering supplier to the electric energy industry, from September 1998 through February 2000. From June 1989 to September 1998, Mr. White was Executive Vice President, Corporate Development, of Kansas City Power & Light Company. Mr. White received a B.A. from Colorado College and an MBA from Rockhurst University. The Board concluded that Mr. White brings the requisite skills and experience to serve as a director of the Company, particularly in the areas of executive management experience, through his positions held at White and Company, LLC, Union Station Kansas City, Inc. and Kansas City Power & Light Company and retail industry and public company experience, as a director of the Company since 2004.
|
David Meyer
|
Executive Chairman. Mr. Meyer, age 41, has served as Chairman of the Board of the Company since April 2004. From 2004 to 2005, he served in the Company’s interim Office of the Chief Executive. Since 2003, Mr. Meyer has served as a Managing Member of Knightspoint Partners LLC, a firm which he co-founded, that is engaged in the business of acquiring, holding and disposing of investments in various companies. From 1995 to 2002, Mr. Meyer served in various capacities in the investment banking department of Credit Suisse First Boston, including as a director in the Mergers and Acquisitions and Global Industrial and Services Groups in the firm’s London office. From 2007 to 2008, Mr. Meyer served as Chairman of the Board of Directors of Ashworth, Inc., a golf apparel company formerly listed on Nasdaq. From 2006 to 2007, Mr. Meyer served as Chairman of the Compensation Committee of the Board of Directors of the Sharper Image Corporation, a multi-channel specialty retailer formerly listed on Nasdaq. Mr. Meyer received a B.S.E. from Princeton University and an MBA from Stanford University. The Board concluded that Mr. Meyer brings the requisite skills and experience to serve as a director of the Company, particularly in the areas of retail industry, public company and outside board experience, through his Chairman and director positions held at Ashworth, Inc., the Sharper Image Corporation and as Chairman of the Company since 2004 and executive management experience, through his positions held at Knightspoint, Credit Suisse First Boston and as interim Chief Executive of the Company.
|
Renato Cataldo
|
President and Chief Executive Officer. Dr. Cataldo, age 50, joined the Company as its Chief Operating Officer in July 2005 after serving as a consultant to the Company since August 2004. Effective October 10, 2006, he was appointed President and Chief Executive Officer of the Company. From 1998 until his resignation in August 2004, he served as Chief Executive Officer and Chief Technology Officer of Publicis eHealth Solutions, a division of the Publicis Groupe, S.A., an international communications company.
|
Dale Heins
|
Executive Vice President, Finance, Chief Financial Officer and Treasurer of the Company. Mr. Heins, age 47, was promoted to his current position in April 2008. From July 2005 to April 2008, Mr. Heins served as Vice President, Corporate Controller, Principal Accounting Officer and Assistant Treasurer, after serving the Company in various other financial positions since 1987.
|
Thomas Gallahue
|
Executive Vice President, Operations. Mr. Gallahue, age 59, joined the Company in April 2002 in the position of Vice President, Sales Development and Operations and was appointed to his current position in November 2002. Prior to joining the Company, Mr. Gallahue enjoyed a thirty-year career with Sears, Roebuck & Co. where he held various positions, including Store Manager, Region Product Service Manager, Director of Sales Development for Home Appliances and District General Manager.
|
Jim Mills
|
Executive Vice President, Field Operations. Mr. Mills, age 45, joined the Company in September 2008, following a distinguished career with RadioShack Corporation, a leading consumer electronics retailer, that spanned more than twenty years. His most recent responsibilities with RadioShack included Vice President – Wholesale Channels (2007-2008), with responsibility for coordinating and implementing the overall strategy for RadioShack Franchise, Franchise International, Retail Solutions Kiosks and Direct Sales and providing executive oversight for RadioShack de’Mexico. In 2006, Mr. Mills served as Vice President of RadioShack Segmentation and Vice President of Visual Merchandising and from 2004 to 2005, he was Vice President of the Southeast Region for RadioShack.
|
Keith Laakko
|
Executive Vice President, Chief Marketing Officer. Mr. Laakko, age 44, joined the Company in his current position in January 2006. He served as Category Marketing Director for Consumer Controls Brands of Spectrum Brands from 2004 until he joined the Company. From 2000 to 2004, Mr. Laakko held marketing positions with Eastman Kodak Company, including Director of New Business Development, Business to Business, and Director of Corporate Branding from 2003 to 2004, Director of Global Brand Communication from 2001 to 2003 and Marketing Director, Strategic Web Partnerships and Online Community from 2000 to 2001. He also held marketing positions with The Coca-Cola Company, Hasbro Toys and Mattel.
|
Jane Nelson
|
General Counsel and Secretary. Ms. Nelson, age 60, joined the Company in 1988 as Assistant General Counsel and subsequently served as Associate General Counsel and Assistant Secretary. She was promoted to her current position in 1993.
|
Rose O’Brien
|
Vice President, Finance/Controller and Principal Accounting Officer. Ms. O’Brien, age 49, joined the Company in August 2005 as Assistant Controller and was promoted to her current position in April 2008. Prior to joining the Company, Ms. O’Brien was the Director of Special Projects at Insituform, Inc., a provider of trenchless technology, from September 2004 to July 2005. She was the Controller at Growing Family, Inc., a baby portrait photography company from November 2000 to September 2004. Prior to November 2000, Ms. O’Brien held financial management positions with both public and privately held companies in the St. Louis area and also served for seven years in the Audit Department of Price Waterhouse.
|
·
|
Exceptional individual and team performance should be recognized and rewarded (and thereby encouraged) at all levels of the organization.
|
·
|
Rewards should be tied to the creation of stockholder value and its underlying drivers.
|
|
·
Annual revenues between one-half to two times the Company’s revenues;
|
|
·
Small box specialty retail companies;
|
|
·
Customer service element is critical to business; and/or
|
|
·
Companies that operate in a host environment.
|
·
A.C. Moore Arts & Crafts
|
·
CEC Entertainment
|
·
Gymboree
|
·
Bare Escentuals
|
·
Christopher & Banks
|
·
Hibbett Sports
|
·
Big 5 Sporting Goods
|
·
Dennys Corp
|
·
Jackson Hewitt Tax Service
|
·
Buffalo Wild Wings
|
·
Destination Maternity
|
·
Nutrisystem
|
·
Build-A-Bear Workshop
·
California Pizza Kitchen
|
·
Einstein Noah Restaurant
·
Golfsmith International Holdings
|
·
Shutterfly
·
Steiner Leisure
|
|
|
Non-Equity
|
Change
|
All Other
|
||||||||||
Name and Principal Position | Year | Salary ($) |
Stock
Awards ($) (1)
|
Option
Awards ($) (2)
|
Incentive Plan
Compensation ($) (3)
|
in Pension
Value ($) (4)
|
Compensation
($) (5)
|
Total ($)
|
||||||
Renato Cataldo
|
||||||||||||||
President and Chief Executive Officer
|
2009
|
$ 475,000
|
$ 29,611
|
(7)
|
$ -
|
$ 21,250
|
$ -
|
$ 12,626
|
$ 538,487
|
|||||
2008
|
$ 484,135
|
$ 27,113
|
(8)
|
$ 179,501
|
$ 35,000
|
$ -
|
$ 7,266
|
$ 733,015
|
||||||
2007
|
$ 385,000
|
$ 149,688
|
(9)
|
$ -
|
$ 150,000
|
$ -
|
$ 7,630
|
$ 692,318
|
||||||
Dale Heins
|
||||||||||||||
Executive Vice President, Finance,
|
2009
|
$ 280,000
|
$ 24,387
|
(7)
|
$ -
|
$ 17,500
|
$ 17,813
|
$ 10,337
|
$ 350,037
|
|||||
Chief Financial Officer and Treasurer (6)
|
2008
|
$ 228,806
|
$ 13,556
|
(8)
|
$ 89,751
|
$ 17,500
|
$ -
|
$ 6,511
|
$ 356,124
|
|||||
2007
|
$ 163,654
|
$ 90,242
|
(9)
|
$ -
|
$ 40,000
|
$ -
|
$ 5,776
|
$ 299,672
|
||||||
Thomas Gallahue
|
||||||||||||||
Executive Vice President, Operations
|
2009
|
$ 300,000
|
$ 24,387
|
(7)
|
$ -
|
$ 17,500
|
$ 6,363
|
$ 12,867
|
$ 361,117
|
|||||
2008
|
$ 305,770
|
$ 23,242
|
(8)
|
$ 64,505
|
$ 30,000
|
$ -
|
$ 9,224
|
$ 432,741
|
||||||
2007
|
$ 220,721
|
$ 29,916
|
(9)
|
$ -
|
$ 30,000
|
$ 638
|
$ 4,809
|
$ 286,084
|
||||||
Jim Mills
|
||||||||||||||
Executive Vice President,
|
2009
|
$ 275,000
|
$ 10,448
|
(7)
|
$ -
|
$ 7,500
|
$ -
|
$ 55,028
|
(10)
|
$ 347,976
|
||||
Field Operations |
2008
|
$ 105,769
|
$ -
|
$ 74,271
|
$ -
|
$ -
|
$ 474
|
$ 180,514
|
||||||
2007
|
$ -
|
$ -
|
$ -
|
$ -
|
$ -
|
$ -
|
$ -
|
|||||||
Keith Laakko
|
||||||||||||||
Chief Marketing Officer
|
2009
|
$ 230,000
|
$ 20,905
|
(7)
|
$ -
|
$ 15,000
|
$ -
|
$ 11,685
|
$ 277,590
|
|||||
2008
|
$ 203,846
|
$ 15,484
|
(8)
|
$ 71,801
|
$ 20,000
|
$ -
|
$ 7,240
|
$ 318,371
|
||||||
2007
|
$ 175,000
|
$ 24,948
|
(9)
|
$ -
|
$ 25,000
|
$ -
|
$ 7,860
|
$ 232,808
|
(1)
|
Stock awards issued under the CPI Corp. Omnibus Incentive Plan since May 29, 2008. Prior to this date, stock awards were issued under Predecessor Plans. See Note 13 in the Company’s Annual Report to the Securities and Exchange Commission on Form 10-K for the fiscal year ended February 6, 2010, for discussion of valuation methods related to stock awards. Dividends are earned on restricted stock not yet vested. Such dividends are included in All Other Compensation as they are earned. The 2007 Stock Awards column also includes $50,336 awarded to Mr. Heins as a special bonus for his role in the completion of the acquisition of substantially all of the assets of Portrait Corporation of America (“PCA”) and certain of its affiliates and assumption of certain liabilities of PCA (the “PCA Acquisition”). The amounts in the table reflect the aggregate grant-date fair value of the stock awards issued in the respective fiscal year noted.
|
(2)
|
Under the CPI Corp. Omnibus Incentive Plan, the Company issued options to the NEO’s in fiscal year 2008 as follows: Mr. Cataldo, 50,000; Mr. Heins, 25,000; Mr. Gallahue, 17,500; Jim Mills, 25,000; and Mr. Laakko, 20,000. These options vest in three equal increments on their anniversary dates, with the exception of Mr. Gallahue’s options, which vest 7,500 on the first anniversary date and 5,000 both on the second and third anniversary dates. The first increment vested on the first anniversary date and is exercisable when the Company’s common stock trades in excess of $25.00 for a minimum of 20 consecutive trading days, the second increment vests on the second anniversary date and is exercisable when the common stock trades in excess of $45.00 for a minimum of 20 consecutive trading days and the third increment vests on the third anniversary date and is exercisable when the common stock trades in excess of $65.00 for a minimum of 20 consecutive trading days. For all share options described above, if the target common stock price is met for a minimum of 20 consecutive trading days prior to the vesting schedules noted above, the exercise dates would be the vesting schedule dates. See the “Outstanding Equity Awards at 2009 Fiscal Year End” table for exercise prices and expiration dates. Additional disclosure of these options, including valuation method, is included in Note 13 in the Company’s Annual Report to the Securities and Exchange Commission on Form 10-K for the fiscal year ended February 6, 2010. The amounts in the table reflect the aggregate grant-date fair value of the stock options issued in fiscal year 2008.
|
(3)
|
Value of cash portion of performance bonus awarded under the CPI Corp. Performance Plan in fiscal year 2009 and under Predecessor Plans in fiscal years 2008 and 2007. Amounts are granted and paid in the fiscal year subsequent to the fiscal year for which the performance relates. The balance of the bonus was awarded in restricted stock and is reflected in the Stock Awards column.
|
(4)
|
Amounts relate to actuarial changes in pension values related to the pension plan. The table does not include negative values of $11,551 and $520 in fiscal years 2008 and 2007, respectively, for Mr. Heins and $2,692 in 2008 for Mr. Gallahue.
|
(5)
|
Detail of All Other Compensation follows.
|
Name
|
Year
|
Dividends Paid
on Stock not yet vested ($)
|
Company
401 (k)
Contribution ($)
|
Life Insurance Premiums ($)
|
Other ($)
|
Total ($)
|
|
Renato Cataldo
|
2009
|
$ 1,428
|
$ 8,250
|
$ 748
|
$ 2,200
|
$ 12,626
|
|
2008
|
$ 824
|
$ 5,750
|
$ 692
|
$ -
|
$ 7,266
|
||
2007
|
$ 1,331
|
$ 5,625
|
$ 674
|
$ -
|
$ 7,630
|
||
Dale Heins
|
2009
|
$ 1,176
|
$ 7,212
|
$ 494
|
$ 1,455
|
$ 10,337
|
|
2008
|
$ 412
|
$ 4,725
|
$ 414
|
$ 960
|
$ 6,511
|
||
2007
|
$ 531
|
$ 4,005
|
$ 280
|
$ 960
|
$ 5,776
|
||
Thomas Gallahue
|
2009
|
$ 1,176
|
$ 8,250
|
$ 1,641
|
$ 1,800
|
$ 12,867
|
|
2008
|
$ 706
|
$ 5,750
|
$ 1,268
|
$ 1,500
|
$ 9,224
|
||
2007
|
$ 266
|
$ 3,549
|
$ 994
|
$ -
|
$ 4,809
|
||
Jim Mills
|
2009
|
$ 504
|
$ 8,250
|
$ 537
|
$ 45,737
|
(10)
|
$ 55,028
|
2008
|
$ -
|
$ -
|
$ 104
|
$ 370
|
$ 474
|
||
2007
|
$ -
|
$ -
|
$ -
|
$ -
|
$ -
|
||
Keith Laakko
|
2009
|
$ 1,684
|
$ 8,250
|
$ 376
|
$ 1,375
|
$ 11,685
|
|
2008
|
$ 1,147
|
$ 5,750
|
$ 343
|
$ -
|
$ 7,240
|
||
2007
|
$ 1,911
|
$ 5,625
|
$ 324
|
$ -
|
$ 7,860
|
(6)
|
Mr. Heins was appointed Chief Financial Officer on April 19, 2008.
|
(7)
|
The number of restricted shares granted to NEO's in fiscal year 2009 (for fiscal year 2008 performance) was determined by dividing 50% of the value of their total bonuses by the closing price of the Company’s common stock at the end of fiscal year 2008 ($7.14). The same formula was used for all other recipients of restricted shares pursuant to the Omnibus Incentive Plan. The Compensation Committee selected the closing price of the Company’s common stock on the last trading day of the fiscal year because the awards were for fiscal year 2008 performance. The awards were not made until completion of the year-end audit of the Company’s financial statements and allocation of the incentive pool determined upon completion of the audit, which occurred on April 27, 2009. The amounts in the table reflect the aggregate grant-date fair value of the shares awarded on April 27, 2009.
|
(8)
|
The number of restricted shares granted to NEO's in fiscal year 2008 (for fiscal year 2007 performance) was determined by dividing 50% of the value of their total bonuses by the closing price of the Company’s common stock at the end of fiscal year 2007 ($20.40). The same formula was used for all other recipients of restricted shares pursuant to the Performance Plan. The Compensation Committee selected the closing price of the Company’s common stock on the last trading day of the fiscal year because the awards were for fiscal year 2007 performance. The awards were made on March 5, 2008. The amounts in the table reflect the aggregate grant-date fair value of the shares awarded on March 5, 2008.
|
(9)
|
The number of restricted shares granted to NEO's in fiscal year 2007 (for fiscal year 2006 performance) was determined by dividing 50% of the value of their total bonuses by the closing price of the Company’s common stock at the end of fiscal year 2006 ($54.12). The same formula was used for all other recipients of restricted shares pursuant to the Performance Plan. The Compensation Committee selected the closing price of the Company’s common stock on the last trading day of the fiscal year because the awards were for fiscal year 2006 performance. The awards were not made until completion of the year-end audit of the Company’s financial statements and allocation of the incentive pool determined upon completion of the audit which occurred on April 10, 2007. The amounts in the table reflect the aggregate grant-date fair value of the shares awarded on April 10, 2007.
|
(10)
|
Mr. Mills joined the Company as Executive Vice President, Field Operations, in September 2008. Upon his joining the Company, Mr. Mills entered into an employment agreement. Pursuant to this agreement, Mr. Mills was entitled to receive reimbursement for certain moving and temporary housing expenses. Such expenses in the amount of $43,517 were reimbursed to Mr. Mills in fiscal year 2009.
|
Payouts Under Non-Equity
Incentive Plan Awards
|
Payouts Under Equity
Incentive Plan Awards
|
Grant Date Fair Value of Stock
|
|||||||||
Name
|
Plan Name
|
Grant Date (1)
|
Threshold ($)
|
Target ($)(2)
|
Max ($)
|
Threshold (#)
|
Target (#)(3)
|
Max (#) | Awards ($)(3) | ||
Renato Cataldo
|
Omnibus Incentive Plan
|
(4)
|
4/27/09
|
$ -
|
$ 21,250
|
$ -
|
-
|
2,976
|
-
|
$ 29,611
|
|
Dale Heins
|
Omnibus Incentive Plan
|
(4)
|
4/27/09
|
$ -
|
$ 17,500
|
$ -
|
-
|
2,451
|
-
|
$ 24,387
|
|
Thomas Gallahue
|
Omnibus Incentive Plan
|
(4)
|
4/27/09
|
$ -
|
$ 17,500
|
$ -
|
-
|
2,451
|
-
|
$ 24,387
|
|
Jim Mills
|
Omnibus Incentive Plan
|
(4)
|
4/27/09
|
$ -
|
$ 7,500
|
$ -
|
-
|
1,050
|
-
|
$ 10,448
|
|
Keith Laakko
|
Omnibus Incentive Plan
|
(4)
|
4/27/09
|
$ -
|
$ 15,000
|
$ -
|
-
|
2,101
|
-
|
$ 20,905
|
(1)
|
Awards were granted on April 27, 2009, and relate to fiscal year 2008 service.
|
(2)
|
Amounts are cash bonuses for 2008 performance awards under the CPI Corp. Performance Plan which were granted and paid in fiscal year 2009.
|
(3)
|
The portion of a participant’s incentive compensation award is calculated by dividing (1) that portion of the participant’s incentive compensation award payable in restricted shares for the fiscal year by (2) the fair market value of one share of common stock measured as of the last day of the fiscal year. The restricted shares are subject to restrictions on transferability, as well as vesting and forfeiture restrictions. Termination due to normal retirement (65 or older) results in automatic waiver of the uncompleted portion of restriction. The shares vest automatically upon a change of control.
|
(4)
|
Includes incentive plan grants in fiscal year 2009 related to fiscal year 2008 service and reflects cash and stock awards granted under the CPI Corp. Performance Plan, pursuant to the CPI Corp. Omnibus Incentive Plan. All cash awards and restricted stock granted in fiscal year 2009 were paid or vested as of the fiscal year 2009 year-end. Amounts related to 2009 service were granted subsequent to the fiscal year-end and therefore are not included in this table.
|
|
Option Awards
|
Stock Awards
|
|||||||
Name |
Number of Securities Underlying
Unexercised
Options (#)
Exercisable
|
Number of Securities Underlying Unexercised Options (#)
Unexercisable (1)
|
Equity Incentive Plan Awards: Number of
Securities Underlying Unexercised Unearned
Options (#)(1)
|
Option Exercise Price ($)
|
Option Expiration Date
|
Number of
Shares or Units
of Stock That Have Not Yet Vested (#)
|
Market Value
of Shares or Units
of Stock That Have
Not Yet Vested ($)
|
||
Renato Cataldo
|
-
|
16,667
|
33,333
|
$ 13.58
|
08/14/18
|
-
|
$ -
|
||
Dale Heins
|
-
|
8,334
|
16,666
|
$ 13.58
|
08/14/18
|
-
|
$ -
|
||
Thomas Gallahue
|
-
|
7,500
|
10,000
|
$ 13.58
|
08/14/18
|
-
|
$ -
|
||
10,046
|
(2)
|
-
|
-
|
$ 12.96
|
10/21/10
|
-
|
$ -
|
||
5,000
|
(2)
|
-
|
-
|
$ 17.00
|
04/15/10
|
-
|
$ -
|
||
Jim Mills
|
-
|
8,334
|
16,666
|
$ 12.21
|
09/22/18
|
-
|
$ -
|
||
Keith Laakko
|
-
|
6,667
|
13,333
|
$ 13.58
|
08/14/18
|
528
|
$ 6,922
|
(1)
|
With the exception of Mr. Gallahue, the stock options vest equally in three increments on the first three anniversary dates after the August 14, 2008, grant date for Dr. Cataldo, Mr. Heins and Mr. Laakko and the September 22, 2008, grant date for Mr. Mills. Mr. Gallahue’s options vest at 7,500 on the first anniversary date and 5,000 on each of the second and third anniversary dates. See footnote 2 to the “Summary Compensation Table” for further description of the vesting of stock options awarded pursuant to the Omnibus Incentive Plan.
|
(2)
|
Mr. Gallahue’s options were scheduled to expire on February 15, 2007, pursuant to his retention agreement. In fiscal year 2007, Mr. Gallahue agreed to continue his employment with the Company beyond his planned retirement. Accordingly, his options are subject to Predecessor Plans which allow exercise up to the original expiration dates in fiscal year 2010, or three months after termination of employment, whichever occurs earlier.
|
Name
|
Option Awards
|
Stock Awards
|
||
Number of Shares
Acquired Upon
Exercise (#) (1)
|
Value Realized
Upon
Exercise ($) (1)
|
Number of Shares
Acquired Upon
Vesting (#) (2)
|
Value Realized
on Vesting ($)
|
|
Renato Cataldo
|
-
|
$ -
|
2,976
|
$ 39,015
|
Dale Heins
|
-
|
$ -
|
2,451
|
$ 32,133
|
Thomas Gallahue
|
-
|
$ -
|
2,451
|
$ 32,133
|
Jim Mills
|
-
|
$ -
|
1,050
|
$ 13,766
|
Keith Laakko
|
-
|
$ -
|
2,629
|
$ 34,466
|
(1)
|
No options were exercised in fiscal 2009. The table above does not include stock options vested in fiscal year 2009 of 16,667, 8,334, 7,500, 8,334 and 6,667 for Dr. Cataldo and Messrs. Heins, Gallahue, Mills and Laakko, respectively, as these options were not exercisable as of the fiscal year 2009 year-end. See footnote 2 to the “Summary Compensation Table” above for details on exercise requirements.
|
(2)
|
Shares represent restricted stock awarded in fiscal year 2009 (for fiscal year 2008 performance) that vested on the last day of fiscal year 2009, and, for Mr. Laakko, one fifth of shares awarded upon his joining the Company that also vested on the last day of fiscal year 2009.
|
Name
|
Plan Name
|
Number of
Years of
Credited Service (#)
|
Present Value
of Accumulated Benefits ($)
|
Payments
During
Last Fiscal
Year ($)
|
Renato Cataldo (1)
|
Retirement Plan
|
-
|
$ -
|
$ -
|
Dale Heins (2)
|
Retirement Plan
|
17
|
$ 56,892
|
$ -
|
Thomas Gallahue (2)
|
Retirement Plan
|
2
|
$ 31,162
|
$ -
|
Jim Mills (1)
|
Retirement Plan
|
-
|
$ -
|
$ -
|
Keith Laakko (1)
|
Retirement Plan
|
-
|
$ -
|
$ -
|
(1)
|
Years of actual service differ from the years of credited service because the plan was frozen in 2004 and Dr. Cataldo, Mr. Mills and Mr. Laakko were not yet employed. See description of the retirement plan below.
|
(2)
|
Years of actual service differ from the years of credited service because the plan was frozen in 2004.
|
Renato Cataldo |
Dale Heins
|
Thomas Gallahue
|
Jim Mills
|
Keith Laakko
|
||||||||||||||||
Termination with cause (1)
|
||||||||||||||||||||
Pension (2)
|
$ | - | $ | 56,892 | $ | 31,162 | $ | - | $ | - | ||||||||||
Termination without cause (1)
|
||||||||||||||||||||
Salary
|
$ | 475,000 | $ | 280,000 | $ | 300,000 | $ | 275,000 | $ | 230,000 | ||||||||||
Pension (2)
|
- | 56,892 | 31,162 | - | - | |||||||||||||||
Total
|
$ | 475,000 | $ | 336,892 | $ | 331,162 | $ | 275,000 | $ | 230,000 | ||||||||||
Retirement or resignation
|
||||||||||||||||||||
Pension (2)
|
$ | - | $ | 56,892 | $ | 31,162 | $ | - | $ | - | ||||||||||
Death
|
||||||||||||||||||||
Pension (2)
|
$ | - | $ | 56,892 | $ | 31,162 | $ | - | $ | - | ||||||||||
Life insurance
|
650,000 | 560,000 | 600,000 | 550,000 | 460,000 | |||||||||||||||
Total
|
$ | 650,000 | $ | 616,892 | $ | 631,162 | $ | 550,000 | $ | 460,000 | ||||||||||
Disability
|
||||||||||||||||||||
Disability benefits (3)
|
$ | 1,394,194 | $ | 1,433,151 | $ | 647,551 | $ | 1,502,421 | $ | 1,501,455 | ||||||||||
Pension (2)
|
- | 56,892 | 31,162 | - | - | |||||||||||||||
Total
|
$ | 1,394,194 | $ | 1,490,043 | $ | 678,713 | $ | 1,502,421 | $ | 1,501,455 | ||||||||||
(1)
|
Termination for cause is triggered by an act in bad faith and to the detriment of the Company, refusal or failure to act in substantial accordance with any written material direction or order of the Company, repeated unfitness or unavailability for service, disregard of the Company’s rules or policies after reasonable notice and opportunity to cure, conviction of a crime involving dishonesty, breach of trust or physical or emotional harm to any person, breach of the employment agreement or other contractual obligation to the Company. These benefits are paid in a lump sum at the time of termination.
|
(2)
|
Retirement is the voluntary or involuntary termination of employment except for death or permanent disability before attaining age 65. Employees who reach age 55 and have 15 years of service may elect early retirement benefits. Retirement benefits are payable monthly for life. Options to cover spouses are available for a reduced benefit. If an employee dies prior to retirement age, his or her spouse is entitled to 50% of his benefits at the employee’s retirement age. If an employee terminates prior to retirement age, he or she can apply for vested pension benefits once they reach retirement age.
|
(3)
|
Disability benefits for all NEO’s are under the same plan as all salaried employees.
|
Name
|
Fees Earned or Paid in Cash ($) |
Stock Awards
($) (1)
|
All Other Compensation
($) (2)
|
Total ($) | ||||||||||||
David Meyer (3)
|
$ | 51,000 | $ | 278,632 | $ | 2,934 | $ | 332,566 | ||||||||
James Abel
|
$ | 48,000 | $ | 49,265 | $ | 4,706 | $ | 101,971 | ||||||||
Peter Feld (4)
|
$ | 52,500 | $ | - | $ | 1,681 | $ | 54,181 | ||||||||
Paul Finkelstein (5)
|
$ | 16,500 | $ | 21,080 | $ | - | $ | 37,580 | ||||||||
Michael Glazer
|
$ | 37,500 | $ | 51,289 | $ | 3,361 | $ | 92,150 | ||||||||
Michael Koeneke
|
$ | 40,500 | $ | 31,775 | $ | 2,521 | $ | 74,796 | ||||||||
Turner White
|
$ | 48,000 | $ | 42,230 | $ | 4,034 | $ | 94,264 |
(1)
|
The Board of Directors maintains a CPI Corp. Non-Employee Directors Restricted Stock Policy (the "Policy") pursuant to the Omnibus Incentive Plan. The purpose of the Policy is to advance the interests of the Company and its stockholders by enabling the directors who are not employees of the Company to elect each year to receive shares of restricted common stock of the Company ("Restricted Shares") in lieu of up to 100%, but not less than 50%, of the annual retainer they receive as directors of the Company. Directors who chair committees of the Board may also elect to receive restricted shares in lieu of an annual retainer in cash for their service as committee chairmen.
|
(2)
|
All Other Compensation represents dividends earned on restricted stock awards prior to vesting.
|
(3)
|
Effective September 25, 2009, Mr. Meyer entered into an amendment (the “Amendment”) to his Chairman’s Agreement, dated September 22, 2008, with the Company. The Chairman’s Agreement and the Amendment provide compensation to Mr. Meyer for his services related to his role as Chairman of the Board of Directors.
|
|
(4)
|
Mr. Feld was not reelected at the Annual Meeting of Stockholders in July 2009. Upon termination of his service on the Board in July 2009, and pursuant to the Policy, Mr. Feld forfeited his shares he elected to receive in lieu of his cash retainer for service on the Board and received a $30,000 cash payment for his services. Such payment is included in the “Fees Earned or Paid in Cash” column in the “Director Compensation in Fiscal Year 2009” table above.
|
|
(5)
|
Mr. Finkelstein was elected to the Board of Directors in July 2009. He subsequently resigned in January 2010. During his period with the Company, Mr. Finkelstein served on the Company’s Audit and Compensation Committees.
|
Name
|
Number of Shares
|
Percent
|
||
Van Den Berg Management
|
1,086,461
|
(1)
|
14.9%
|
|
Lafitte Capital Management LP
|
508,265
|
(2)
|
6.9%
|
|
First Dallas Holdings, Inc.
|
499,850
|
(3)
|
6.8%
|
(1)
|
As reported in its Amendment 11 to Schedule 13G/A, dated as of December 31, 2008, Van Den Berg Management has beneficial ownership of 1,086,461 shares, shared voting power for 1,084,451 shares and shared dispositive power for 1,084,451 shares. The address of this stockholder is 805 Las Cimas Parkway, Suite 43C, Austin, Texas 78746.
|
(2)
|
As reported on Schedule 13G, dated February 15, 2008, as of January 31, 2008, Lafitte Capital Management LP has shared voting power for 508,265 shares and shared dispositive power for 508,265 shares. The address of this stockholder is 701 Brazos, Suite 375, Austin, Texas 78701.
|
(3)
|
As reported on Schedule 13G, dated February 15, 2010, as of December 31, 2009, First Dallas Holdings, Inc. has beneficial ownership of 499,850 shares, shared voting power for 470,000 shares and shared dispositive power for 499,850 shares. The address of this stockholder is 2905 Maple Avenue, Dallas, Texas 75201.
|
|
Security Ownership of Management
|
Name
|
Amount of
Record
|
Restricted
Shares (1)
|
Vested
Options (2)
|
Total
|
Percent of
Shares
Outstanding
|
James Abel
|
20,294
|
9,344
|
-
|
29,638
|
*
|
Michael Glazer
|
12,155
|
8,199
|
-
|
20,354
|
*
|
Michael Koeneke
|
29,241
|
8,199
|
-
|
37,440
|
*
|
Turner White
|
13,660
|
8,771
|
-
|
22,431
|
*
|
David Meyer
|
223,098
|
20,022
|
-
|
243,120
|
3.3%
|
Renato Cataldo
|
21,694
|
23,009
|
-
|
44,703
|
*
|
Dale Heins
|
3,789
|
17,721
|
-
|
21,510
|
*
|
Thomas Gallahue
|
5,053
|
17,721
|
10,046
|
32,820
|
*
|
Jim Mills
|
5,134
|
15,263
|
-
|
20,397
|
*
|
Keith Laakko
|
4,409
|
15,791
|
-
|
20,200
|
*
|
Directors and Executive Officers
|
|||||
as a group (12 persons)
|
347,700
|
160,524
|
10,046
|
518,270
|
7.1%
|
(1)
|
For directors, this includes restricted shares awarded in lieu of cash compensation for the 2010 Board retainer and committee chair retainers made on February 12, 2010, and April 15, 2010. For executive officers, these restricted shares were awarded in fiscal year 2010 as part of fiscal year 2009 and long-term incentive compensation. Additionally, the amount for Mr. Laakko includes certain restricted shares awarded to him as part of his employment agreement.
|
(2)
|
Includes shares, which such persons have the right to acquire upon the exercise of employee stock options within 60 days after May 10, 2010. The table does not include stock options vested in fiscal year 2009 of 30,000, 16,667, 8,334, 7,500, 8,334 and 6,667 for Mr. Meyer, Dr. Cataldo and Messrs. Heins, Gallahue, Mills and Laakko, respectively, or stock options vested in fiscal year 2008 of 30,000 for Mr. Meyer, as these options were not exercisable as of the fiscal year 2009 year-end, and it is uncertain if they will be exercisable within 60 days after May 10, 2010; see footnote 2 to the “Summary Compensation Table” above for details on exercise requirements.
|
Fiscal 2009
|
Fiscal 2008
|
|||||||
Audit Fees
|
$ | 746,019 | $ | 929,293 | ||||
Audit-Related Fees
|
4,658 | 38,700 | ||||||
Tax Fees
|
- | - | ||||||
All Other Fees
|
- | - | ||||||
Total
|
$ | 750,677 | $ | 967,993 | ||||
EXHIBIT
|
||||||||||
NUMBER
|
DESCRIPTION
|
|||||||||
(3.1)
|
Articles of Incorporation of the Company, incorporated by reference to CPI Corp.'s Annual Report for fiscal year 1989 on
|
|||||||||
Form 10-K, Exhibit 3.1, filed April 30, 1990.
|
||||||||||
(3.2)
|
Amended and Restated By-laws of the Company, effective November 24, 2008, and incorporated by reference to CPI Corp.'s
|
|||||||||
Form 8-K, Exhibit 3.1, filed December 1, 2008.
|
||||||||||
(4.1)
|
Form of Rights Agreement, dated as of March 13, 2000, between CPI Corp. and Harris Trust and Savings Bank, incorporated
|
|||||||||
by reference to CPI Corp.'s Form 8-A, Exhibit 4.5, dated March 14, 2000.
|
||||||||||
(4.2)
|
First Amendment to Form of Rights Agreement, dated September 5, 2007, by and between CPI Corp. and Computershare
|
|||||||||
Trust Company, N.A., incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 4.1, filed September 6, 2007.
|
||||||||||
(4.3)
|
Second Amendment to Form of Rights Agreement, dated December 21, 2007, by and between CPI Corp. and Computershare
|
|||||||||
Trust Company, N.A., incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 4.1, filed December 21,2007.
|
||||||||||
(4.4)
|
Third Amendment to Form of Rights Agreement, dated March 12, 2010, by and between CPI Corp. and Computershare Trust
|
|||||||||
Company, N.A., incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 10.1, filed March 18, 2010.
|
||||||||||
(10.1)
|
License Agreement Sears, Roebuck De Puerto Rico, Inc., dated January 1, 1999, incorporated by reference to CPI Corp.'s
|
|||||||||
Annual Report for fiscal year 1998 on Form 10-K, Exhibit 10.30, filed May 5, 1999.
|
||||||||||
(10.2)*
|
Employment Agreement dated December 31, 2008, by and between Jane E. Nelson and CPI Corp., incorporated by reference to
|
|||||||||
CPI Corp.'s Form 8-K, Exhibit A within Exhibit 10.67, filed January 7, 2009.
|
||||||||||
(10.3)*
|
CPI Corp. 1981 Stock Bonus Plan (As Amended and Restated effective February 3, 1991), incorporated by reference to
|
|||||||||
CPI Corp.'s Annual Report for fiscal year 1992 on Form 10-K, Exhibit 10.29, filed May 5, 1993.
|
||||||||||
(10.4)*
|
First Amendment to CPI Corp. 1981 Stock Bonus Plan (As Amended and Restated effective February 3, 1991) effective
|
|||||||||
January 1, 1995, incorporated by reference to CPI Corp.'s Annual Report for fiscal year 2000 on Form 10-K, Exhibit 10.30,
|
||||||||||
filed May 3, 2001.
|
||||||||||
(10.5)*
|
CPI Corp. Deferred Compensation and Retirement Plan for Non-Management Directors (Amended and Restated as of
|
|||||||||
January 28, 2000), incorporated by reference to CPI Corp.'s Annual Report for fiscal year 2000 on Form 10-K, Exhibit 10.31,
|
||||||||||
filed May 3, 2001.
|
||||||||||
(10.6)*
|
Deferred Compensation and Stock Appreciation Rights Plan (Amended and Restated as of June 6, 1996), incorporated by
|
|||||||||
reference to CPI Corp.'s Annual Report for fiscal year 2000 on Form 10-K, Exhibit 10.32, filed May 3, 2001.
|
||||||||||
(10.7)*
|
CPI Corp. Stock Option Plan (Amended and Restated effective as of December 16, 1997), incorporated by reference to CPI
|
|||||||||
Corp.'s Annual Report for fiscal year 2000 on Form 10-K, Exhibit 10.34, filed May 3, 2001.
|
||||||||||
(10.8)*
|
CPI Corp. Key Executive Deferred Compensation Plan (As Amended and Restated June 6, 1996), incoporated by reference to
|
|||||||||
CPI Corp.'s Annual Report for fiscal year 2000 on Form 10-K, Exhibit 10.36, filed May 3, 2001.
|
||||||||||
(10.9)*
|
First Amendment dated September 30, 2002, to CPI Corp. Retirement Plan and Trust, incorporated by reference to CPI Corp.'s
|
|||||||||
Annual Report for fiscal year 2002 on Form 10-K, Exhibit 10.65, filed May 16, 2003.
|
||||||||||
(10.10)*
|
Second Amendment dated November 29, 2002, to CPI Corp. Retirement Plan and Trust, incorporated by reference to CPI
|
|||||||||
Corp.'s Annual Report for fiscal year 2002 on Form 10-K, Exhibit 10.66, filed May 16, 2003.
|
||||||||||
(10.11)*
|
Third Amendment dated February 6, 2004, to CPI Corp. Retirement Plan and Trust, incorporated by reference to CPI Corp.'s
|
|||||||||
Annual Report for fiscal year 2003 on Form 10-K, Exhibit 10.73, filed April 21, 2004.
|
EXHIBIT
|
||||||||||
NUMBER
|
DESCRIPTION
|
|||||||||
(10.12)*
|
CPI Corp. Restricted Stock Plan as Amended and Restated effective as of April 14, 2005, incorporated by reference to CPI
|
|||||||||
Corp.'s Annual Report for fiscal year 2004 on Form 10-K, Exhibit 10.86, filed April 21, 2005.
|
||||||||||
(10.13)*
|
CPI Corp. Performance Plan adopted effective as of April 14, 2005, incorporated by reference to CPI Corp.'s Annual Report
|
|||||||||
for fiscal year 2004 on Form 10-K, Exhibit 10.90, filed April 21, 2005.
|
||||||||||
(10.14)*
|
CPI Corp. Non-Employee Directors Restricted Stock Policy pursuant to the CPI Corp. Omnibus Incentive Plan effective as of
|
|||||||||
August 14, 2008, incorporated by reference to CPI Corp.'s Annual Report for fiscal year 2008 on Form 10-K, Exhibit 10.31,
|
||||||||||
filed April 23, 2009.
|
||||||||||
(10.15)*
|
CPI Corp. Non-Employee Directors Restricted Stock Policy (Restricted Stock Election), effective August 14, 2008, incorporated
|
|||||||||
by reference to CPI Corp.'s Annual Report for fiscal year 2008 on Form 10-K, Exhibit 10.33, filed April 23, 2009.
|
||||||||||
(10.16)*
|
Form of Option Agreement, incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 10.1, filed August 21, 2008.
|
|||||||||
(10.17)*
|
Form of Restricted Stock Award Agreement, incorporated by reference to CPI Corp.'s Annual Report for fiscal year 2004 on
|
|||||||||
Form 10-K, Exhibit 10.93, filed April 21, 2005.
|
||||||||||
(10.18)*
|
CPI Corp. Omnibus Incentive Plan, incorporated by reference to CPI Corp.'s Form DEF 14A, Annex A, filed June 23, 2008.
|
|||||||||
(10.19)*
|
Employment Agreement by and between CPI Corp. and Renato Cataldo, incorporated by reference to CPI Corp.'s Form 10-Q,
|
|||||||||
Exhibit 10.10, filed September 1, 2005. File No. 1-10204
|
||||||||||
(10.20)*
|
Confidentiality, Noncompetition and Nonsolicitation Agreement by and between CPI Corp. and Renato Cataldo, incorporated
|
|||||||||
by reference to CPI Corp.'s Form 10-Q, Exhibit 10.104, filed September 1, 2005.
|
||||||||||
(10.21)*
|
Letter from the Company regarding Supplemental Retirement Benefits, dated June 28, 2006, delivered to Richard Tarpley,
|
|||||||||
incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 10.61, filed July 5, 2006.
|
||||||||||
(10.22)*
|
Letter from the Company regarding Supplemental Retirement Benefits, dated June 28, 2006, delivered to Jane E. Nelson,
|
|||||||||
incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 10.62, filed July 5, 2006.
|
||||||||||
(10.23)*
|
Employment Agreement dated September 12, 2007, by and between Thomas Gallahue and CPI Corp., incorporated by
|
|||||||||
reference to CPI Corp.'s Form 8-K, Exhibit 10.60, filed September 18, 2007.
|
||||||||||
(10.24)
|
Purchase and Sale Agreement dated as of May 1, 2007, by and among Portrait Corporation of America, PCA LLC, American
|
|||||||||
Studios, Inc., PCA Photo Corporation of Canada, PCA National LLC, PCA Finance Corp., Inc., Photo Corporation of
|
||||||||||
America, Inc., (each, a "Seller") and CPI Corp., incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 2.1, filed
|
||||||||||
May 3, 2007.
|
||||||||||
(10.25)
|
Amendment No. 1 to the Purchase and Sale Agreement dated as of May 1, 2007, by and among Portrait Corporation of America,
|
|||||||||
PCA LLC, American Studios, Inc., PCA Photo Corporation of Canada, PCA National LLC, PCA Finance Corp., Inc., Photo
|
||||||||||
Corporation of America, Inc., (each, a "Seller") and CPI Corp., such amendment effective as of May 21, 2007, incorporated by
|
||||||||||
reference to CPI Corp.'s Form 8-K, Exhibit 2.1, filed May 25, 2007.
|
||||||||||
(10.26)
|
Amendment No. 2 to the Purchase and Sale Agreement dated as of June 8, 2007, by and among Portrait Corporation of America,
|
|||||||||
PCA LLC, American Studios, Inc., PCA Photo Corporation of Canada, PCA National LLC, PCA Finance Corp., Inc., Photo
|
||||||||||
Corporation of America, Inc., (each, a "Seller") and CPI Corp., incorporated by reference to CPI Corp.'s Form 8-K,
|
||||||||||
Exhibit 2.3, filed June 24, 2007.
|
EXHIBIT
|
||||||||||
NUMBER
|
DESCRIPTION
|
|||||||||
(10.27)
|
Second Amended and Restated Credit Agreement dated as of June 8, 2007, among the Company, the financial institutions that
|
|||||||||
are or may from time to time become parties thereto and LaSalle Bank National Association, as administrative agent and arranger
|
||||||||||
for the lenders, incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 10.1, filed June 14, 2007.
|
||||||||||
(10.28)
|
First Amendment to that certain Second Amended and Restated Credit Agreement, among the Company, the financial institutions
|
|||||||||
that are or may from time to time become parties thereto and LaSalle Bank National Association, as administrative agent and
|
||||||||||
arranger for the lenders, dated June 8, 2007, incorporated by reference to CPI Corp.'s Annual Report for fiscal year 2009 on
|
||||||||||
Form 10-K, Exhibit 10.28, filed April 22, 2010.
|
||||||||||
(10.29)
|
Second Amendment to that certain Second Amended and Restated Credit Agreement, among the Company, the financial
|
|||||||||
institutions that are or may from time to time become parties thereto and LaSalle Bank National Association, as administrative
|
||||||||||
agent and arranger for the lenders, dated December 10, 2008, incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 10.1,
|
||||||||||
filed December 19, 2008.
|
||||||||||
(10.30)
|
Third Amendment to that certain Second Amended and Restated Credit Agreement, among the Company, the financial
|
|||||||||
institutions that are or may from time to time become partites thereto and Bank of America, N.A., as successor to LaSalle Bank
|
||||||||||
National Association, as administrative agent and arranger for the lenders, effective April 16, 2009, incorproated by reference to
|
||||||||||
CPI Corp.'s Form 8-K, Exhibit 10.47, filed April 21, 2009.
|
||||||||||
(10.31)
|
Master Lease Agreement between Wal-Mart Stores East, L.P., Wal-Mart Stores, Inc., Wal-Mart Louisiana, LLC, Wal-Mart
|
|||||||||
Stores Texas, LP and Portrait Corporation of America, Inc., effective June 8, 2007, incorporated by reference to CPI Corp.'s
|
||||||||||
Form 10-Q, Exhibit 10.59, filed August 30, 2007. (Confidential treatment requested for portions of this document).
|
||||||||||
(10.32)
|
First Amendment to the Master Lease Agreement between Wal-Mart Stores, East, LP, Wal-Mart Stores, Inc., Wal-Mart
|
|||||||||
Louisiana, LLC, Wal-Mart Stores Texas, LP and Portrait Corporation of America, Inc., effective June 8, 2007, incorporated by
|
||||||||||
reference to CPI Corp.'s Form 10-Q, Exhibit 10.60, filed December 20, 2007.
|
||||||||||
(10.33)
|
Second Amendment to the Master Lease Agreement between Wal-Mart Stores, East, LP, Wal-Mart Stores, Inc., Wal-Mart
|
|||||||||
Louisiana, LLC, Wal-Mart Stores Texas, LP and Portait Corporation of America, Inc., effective June 8, 2007, incorporated by
|
||||||||||
reference to CPI Corp.'s Form 10-Q, Exhibit 10.61, filed December 20, 2007.
|
||||||||||
(10.34)
|
License Agreement dated December 22, 2008, by and between CPI Corp., Consumer Programs Incorporated, a subsidiary of
|
|||||||||
Company, and Sears, Roebuck and Co. (confidential treatment requested for portions of this document), incorporated by
|
||||||||||
reference to CPI Corp.'s Form 8-K, Exhibit 10.1, filed December 24, 2008.
|
||||||||||
(10.35)
|
Letter Agreement dated December 22, 2008, by and between CPI Corp., Consumer Programs Incorporated, a subsidiary of
|
|||||||||
the Company, and Sears, Roebuck and Co., incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 10.2, filed
|
||||||||||
December 24, 2008.
|
||||||||||
(10.36)*
|
Employment Agreement by and between CPI Corp. and Dale Heins, dated April 23, 2008, incorporated by reference to
|
|||||||||
CPI Corp.'s Form 8-K, Exhibit 10.62, filed April 24, 2008.
|
||||||||||
(10.37)*
|
Employment Agreement by and between CPI Corp. and Jim Mills, dated September 2, 2008, incorporated by reference to
|
|||||||||
CPI Corp.'s Form 10-Q, Exhibit 10.65, filed December 18, 2008.
|
||||||||||
(10.38)*
|
Chairman's Agreement by and between CPI Corp. and David Meyer, dated September 22, 2008, incorporated by reference to
|
|||||||||
CPI Corp.'s Form 10-Q, Exhibit 10.66, filed December 18, 2008.
|
||||||||||
(10.39)*
|
Amendment to Chairman's Agreement by and between CPI Corp. and David Meyer, dated September 25, 2009, incorporated by
|
|||||||||
reference to CPI Corp.'s Form 10-Q, Exhibit 10.58, filed December 22, 2009. (Confidential treatment requested for portions of
|
||||||||||
this document.)
|
||||||||||
(10.40)*
|
Amendment to Chairman's Agreement dated September 22, 2008, and amended September 25, 2009, by and between CPI Corp.
|
|||||||||
and David Meyer, dated February 12, 2010, incorporated by reference to CPI Corp.'s Annual Report for fiscal year 2009 on
|
||||||||||
Form 10-K, Exhibit 10.40, filed April 22, 2010.
|
EXHIBIT
|
||||||||||
NUMBER
|
DESCRIPTION
|
|||||||||
(10.41)*
|
Executive Chairman's Agreement by and between CPI Corp. and David Meyer, dated April 19, 2010, incorporated by reference
|
|||||||||
to CPI Corp.'s Annual Report for fiscal year 2009 on Form 10-K, Exhibit 10.41, filed April 22, 2010.
|
||||||||||
(Confidential treatment requested for portions of this document.)
|
||||||||||
(10.42)
|
Amendment dated as of February 22, 2010, by and between CPI Corp. and Toys "R" Us - Delaware, Inc. ("Licensor") to the
|
|||||||||
Amended and Restated License Agreement made and entered into as of December 23, 2005, by and between Licensor and
|
||||||||||
Kiddie Kandids, LLC. Amended and Restated License Agreement made and entered into as of December 23, 2005, by and
|
||||||||||
between Licensor and Kiddie Kandids, LLC. These documents are incorporated by reference to CPI Corp.'s Annual Report for
|
||||||||||
fiscal year 2009 on Form 10-K, Exhibit 10.42, filed April 22, 2010. (Confidential treatment requested for portions of these
|
||||||||||
documents.)
|
||||||||||
(10.43)*
|
Employment Agreement by and between CPI Corp. and Keith Laakko, dated December 28, 2005, incorporated by reference to
|
|||||||||
CPI Corp.'s Annual Report for fiscal year 2009 on Form 10-K, Exhibit 10.43, filed April 22, 2010.
|
||||||||||
(10.44)*
|
Confidentiality, Noncompetition and Nonsolicitation Agreement by and between CPI Corp. and Keith Laakko, dated
|
|||||||||
December 28, 2005, incorporated by reference to CPI Corp.'s Annual Report for fiscal year 2009 on Form 10-K, Exhibit 10.44,
|
||||||||||
filed April 22, 2010.
|
||||||||||
(10.45)*
|
First Amendment to Employment Agreement by and between CPI Corp. and Keith Laakko, dated December 30, 2005,
|
|||||||||
incorporated by reference to CPI Corp.'s Annual Report for fiscal year 2009 on Form 10-K, Exhibit 10.45, filed April 22, 2010.
|
||||||||||
(10.46)*
|
Amended and Restated CPI Corp. Retirement Plan, effective January 1, 2010, incorporated by reference to CPI Corp.'s Annual
|
|||||||||
Report for fiscal year 2009 on Form 10-K, Exhibit 10.46, filed April 22, 2010.
|
||||||||||
(11.1)^
|
Computation of Income (Loss) Per Share - Diluted
|
|||||||||
(11.2)^
|
Computation of Income (Loss) Per Share - Basic
|
|||||||||
(21.0)^
|
Subsidiaries of the Registrant
|
|||||||||
(23.0)^
|
Independent Registered Public Accounting Firm's Consent
|
|||||||||
(
31.1
)
|
Certification Pursuant to Rule 13a-14(a) Under the Securities and Exchange Act of 1934 by the President and Chief Executive
|
|||||||||
Officer.
|
||||||||||
(
31.2
)
|
Certification Pursuant to Rule 13a-14(a) Under the Securities and Exchange Act of 1934 by the Executive Vice President,
|
|||||||||
Finance and Chief Financial Officer and Treasurer.
|
||||||||||
(
32.0
)
|
Certification Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 by the
|
|||||||||
President and Chief Executive Officer and the Executive Vice President, Finance and Chief Financial Officer and Treasurer.
|
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