Neiman Marcus 2007 Annual Report Download - page 186
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ARTICLE III
ADMINISTRATION OF THE PLAN AND DISCRETION
Section 3-1 Administration. The Committee shall have full power and authority to interpret the Plan, to prescribe,
amend and rescind any rules, forms and procedures as it deems necessary or appropriate for the proper administration of the Plan and
to make any other determinations and to take any other such actions as it deems necessary or advisable in carrying out its duties under
the Plan. All action taken by the Committee arising out of, or in connection with, the administration of the Plan or any rules adopted
thereunder, shall, in each case, lie within its sole discretion, and shall be final, conclusive and binding upon the Company, the
Employer, the Board, all Participants, all Beneficiaries of Participants and all persons and entities having an interest therein, and a
Participant's participation in the Plan shall constitute that Participant's acknowledgement and acceptance of the Committee's authority
and discretion. The Committee may from time to time adopt rules and regulations governing the operation of this Plan and may
employ and rely on such employees of the Employer, legal counsel, accountants, and agents, as it may deem advisable to assist in the
administration of the Plan.
Section 3-2 Compensation of Committee; Expenses. Members of the Committee shall serve without compensation for
their services unless otherwise determined by the Board. All expenses of administering the Plan shall be paid by the Company.
Section 3-3 Indemnification. the Company shall indemnify, defend and hold the Committee harmless from any and all
claims, losses, damages, expenses (including counsel fees) and liability (including any amounts paid in settlement of any claim or any
other matter with the consent of the Board) arising from any act or omission of such member, except when the same is due to gross
negligence or willful misconduct.
Section 3-4 Interpretations. Any decisions, actions or interpretations to be made under the Plan by the Company, the
Employer, the Board or the Committee shall be made in its respective sole discretion, not as a fiduciary, need not be uniformly applied
to similarly situated individuals and shall be final, binding and conclusive on all persons interested in the Plan.