Neiman Marcus 2006 Annual Report Download - page 73

OPTION EXERCISES AND STOCK VESTED
Option Awards
Name
Number of Shares
Acquired on Exercise
(#)
Value Realized
on Exercise
($)(1)
Burton M. Tansky 578 221,050
Karen W. Katz — —
James E. Skinner — —
Brendan L. Hoffman — —
James J. Gold — —
(1) Reflects the difference between the exercise price of the stock option and the valuation price in effect on the date of the exercise
as determined by the Company based upon a number of factors, as more fully discussed on page 59.
PENSION BENEFITS
The following table sets forth certain information with respect to retirement payments and benefits under the Retirement
Plan and the SERP for each of our named executive officers.
Name Plan Name
Number of Years
Credited Service
(#)(1)
Present Value
of Accumulated
Benefit
($)(2)
Payments During
Last
Fiscal Year
($)
Burton M. Tansky Retirement Plan 17 391,000 —
SERP 29(3) 6,944,000 —
Karen W. Katz Retirement Plan 22 176,000 —
SERP 22(4) 1,189,000 —
James E. Skinner Retirement Plan 6 82,000 —
SERP 6 227,000 —
Brendan L. Hoffman Retirement Plan 9 44,000 —
SERP 9 99,000 —
James J. Gold Retirement Plan 16 76,000 —
SERP 16 324,000 —
Footnotes:
(1) Computed as of July 28, 2007, which is the same pension measurement date used for financial statement reporting purposes with
respect to our audited consolidated financial statements and notes thereto.
(2) For purposes of calculating the amounts in this column, retirement age was assumed to be the normal retirement age of 65, as
defined in the Retirement Plan. A description of the valuation method and all material assumptions applied in quantifying the
present value of accumulated benefit is set forth in Note 13 to the audited consolidated financial statements on page F-35 of this
Annual Report on Form 10-K.
(3) The difference in years of service is a result of the provision in Mr. Tansky's employment agreement relating to the calculation
of his years of service under the SERP. Following his termination of employment with us, his years of service for purposes of
calculating his benefit under the SERP will be determined by multiplying his actual service for purposes of the SERP by 2,
subject to the 25-year maximum set forth in the SERP, and by then providing him with an additional credit for each year of
service to the Company following his attainment of age sixty-five (65) (disregarding the 25-year maximum set forth in the
SERP). See the discussion of his employment agreement under "Employment and Other Compensation Agreements" on page 70
of this section.
(4) Pursuant to the terms of Karen Katz's employment agreement, after she has reached the 25-year maximum set forth in the SERP,
she will be entitled to an additional one year of credit for each full year of service thereafter. In addition, if her employment is
terminated by us for any reason other than death, disability, cause, or non-renewal of her employment term, or if she terminates
her employment with us for good reason, and she has not yet reached 65, her SERP benefit will not be reduced solely by reason
of her failure to reach 65 as of the termination date.
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