Neiman Marcus 2009 Annual Report Download - page 478

Exhibit 10.55
AMENDMENT NO. 1 TO
THE NEIMAN MARCUS GROUP, INC.
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
(Amended and Restated Effective January 1, 2009)
Pursuant to Section 6.1 of The Neiman Marcus Group, Inc. Supplemental Executive Retirement Plan (Amended and Restated
Effective January 1, 2009) (the "Plan"), the Plan is hereby amended in the following respect only:
FIRST: Section 2.4 of the Plan is hereby amended by restatement in its entirety to read as follows:
2.4 Cessation of Accruals.
(a) Participation After December 31, 2007. A Participant who is a Grandfathered Rule of 65 Employee as of
December 31, 2007 shall continue to be a Participant under the Plan thereafter, subject to and in accordance with the terms of
the Plan; provided, however, that if a Grandfathered Rule of 65 Employee has a Termination of Employment after
December 31, 2007, such employee shall not be treated as a Grandfathered Rule of 65 Employee upon any later
reemployment by a Participating Employer. Any provision of the Plan to the contrary notwithstanding, no individual shall
become an Eligible Employee on or after January 1, 2008 who was not an Eligible Employee on December 31, 2007 and,
thus, there shall be no new Participants in the Plan on and after such date, and a Participant who is not a Grandfathered
Rule of 65 Employee shall remain a Participant in the Plan after December 31, 2007 as long as he or she is entitled to receive
a benefit under the Plan, but no additional benefit shall accrue for any Participant who is not a Grandfathered Rule of 65
Employee under the Plan after December 31, 2007, subject to the following:
(i) the amount of benefit payable under the Plan after December 31, 2007 with respect to a Participant who
is an Eligible Employee as of such date but who is not a Grandfathered Rule of 65 Employee shall be determined as
if such Participant had a Termination of Employment effective as of December 31, 2007, provided, however, that
any such Participant shall not be treated as having a Termination of Employment for purposes of determining
whether he or she has attained Normal Retirement Age until his or her actual Termination of Employment and
benefit payments shall not commence to any such Participant until payments would otherwise commence to such
Participant under the terms of the Plan; and
(ii) a Participant who is not a Grandfathered Rule of 65 Employee shall continue to be entitled to credit for
Service after December 31, 2007 for purposes of determining whether such Participant has attained the required
years of Service to vest in a benefit or to commence receiving a benefit prior to Normal Retirement Date, but not
for purposes of the calculation of the amount of such benefit.