Neiman Marcus 2007 Annual Report Download - page 187
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ARTICLE IV
PARTICIPATION
Section 4-1 Defined Contributions.
(a) Non-Transitional Defined Contributions. Effective as of the Effective Date, the Company shall make a
Non-Transitional Defined Contribution to the Plan on behalf of each Eligible Employee periodically throughout the Plan
Year. The aggregate amount of such Non-Transitional Defined Contributions credited on behalf of each Eligible Employee
during each Plan Year will be equal to the product of:
(1) that portion of such Eligible Employee's Eligible Compensation that exceeds the Compensation
Limitation, and
(2) ten and one-half percent (10.5%).
(b) Transitional Defined Contributions.
(1) In addition to amounts credited to Eligible Employees under Section 4-1(a) above, effective as of
the Effective Date, the Company shall periodically make Transitional Defined Contributions during the Plan Year
on behalf of each Eligible Employee who:
(A) was eligible under the DB SERP as of December 31, 2007, and
(B) has neither attained, nor will attain, age sixty-six (66) during the Plan Year to which the
Transitional Defined Contribution would otherwise relate if credited to such Eligible Employee's Defined
Contribution Account.
(2) The aggregate amount of such Transitional Defined Contributions for the Plan Year for each
Eligible Employee who has satisfied the eligibility criteria reflected in Section 4-1(b)(1) above, shall be equal to the
product of:
(A) that portion of such Eligible Employee's Eligible Compensation that exceeds the
Compensation Limitation, and
(B) the applicable percentage that corresponds with the highest age attained by the Eligible
Participant during the Plan Year to which the Transitional Defined Contribution would otherwise relate,
according to the schedule set forth below:
Eligible Employee's
Highest Age During
Applicable Plan Year
Applicable Percentage or
Eligible Compensation
30 - 39 3%
40 - 49 4%
50 – 59 5%
60 - 65 6%
66 and Older 0%
(c) Timing of Defined Contributions. Any Defined Contribution made under this Section 4-1 will be credited
to the Employee's Defined Contribution Account no later than as soon as administratively practicable following the close of
the Plan Year to which such Defined Contribution relates.