Neiman Marcus 2009 Annual Report Download - page 72

Table of Contents
NONQUALIFIED DEFERRED COMPENSATION
The amounts reported in the table below represent deferrals and Company matching contributions credited pursuant
to the KEDC Plan and Company contributions credited pursuant to the DC SERP.
Name
Executive
Contributions
in Last Fiscal Year
($)(1)
Registrant
Contributions in
Last Fiscal Year
($)
Aggregate
Earnings
in Last Fiscal Year
($)
Aggregate
Withdrawals /
Distributions
($)
Aggregate Balance
at Last Fiscal Year-
End
($)
Burton M. Tansky KEDC — — — — —
DC SERP — — — — —
Karen W. Katz KEDC 92,890 20,655 32,397 — 1,058,536
DC SERP — — — — —
James E. Skinner KEDC 39,237 12,363 10,034 — 340,809
DC SERP — 60,970 3,625 — 142,950
James J. Gold KEDC — — — — —
DC SERP — 68,471 5,484 — 205,781
Gerald A. Barnes KEDC — — 1,186 — 37,128
DC SERP — — — — —
Footnotes:
(1) The amounts reported as Executive Contributions in Last Fiscal Year are also included as Salary in the Summary
Compensation Table beginning on page 62 of this Section.
The KEDC Plan allows eligible employees to elect to defer up to 15% of base pay and up to 15% of annual performance
bonus each year. Eligible employees generally are those employees who have completed one year of service with the Company, have
annual base pay of at least $300,000 and are otherwise designated as eligible by the Company's employee benefits committee;
provided, however, that effective January 1, 2008, only those persons who were eligible for the KEDC as of January 1, 2007 are
permitted to continue participating in the KEDC. No new participants will be added. The Company also credits a matching
contribution each pay period equal to (A) the sum of (i) 100% of the sum of the employee's KEDC Plan deferrals and the maximum
RSP deferral that the employee could have made under such plan for such pay period, to the extent that such sum does not exceed 2%
of the employee's compensation for such pay period, and (ii) 25% of the sum of the employee's KEDC Plan deferrals and the
maximum RSP, as applicable, deferral that the employee could have made under such plan for such pay period, to the extent that such
sum does not exceed the next 4% of the employee's compensation for such pay period, minus (B) the maximum possible match the
employee could have received under the RSP, as applicable, for such pay period. Such amounts are credited to a bookkeeping account
for the employee and are fully vested with respect to matching contributions made for calendar years prior to 2008. Amounts
attributable to matching contributions, plus interest thereon, for calendar years on and after 2008 are subject to forfeiture in the event
the employee is terminated for cause. Accounts are credited monthly with interest at an annual rate equal to the prime interest rate
published in The Wall Street Journal on the last business day of the preceding calendar quarter. Amounts credited to an employee's
account become payable to the employee upon separation from service, death, unforeseeable emergency, or change of control of the
Company. In the event of separation of service, payment is made in a lump sum in the calendar quarter following the calendar quarter
in which the separation occurs although if the employee is eligible for retirement upon such separation, payment may be deferred until
the following year or the nine subsequent years, and may be made in a lump sum or in installments over a period of up to ten years,
depending upon the distribution form elected by the employee. There is no separate funding for the amounts payable under the KEDC
Plan, rather the Company makes payment from its general assets. The KEDC Plan is designed to comply with the requirements of
Section 409A of the Internal Revenue Code.
The DC SERP is an unfunded, nonqualified deferred compensation plan under which benefits are paid from our general
assets to provide eligible employees with the opportunity to receive employer contributions on the portion of their eligible
compensation that exceeds the compensation limit imposed by Internal Revenue Code Section 401(a)(17) (the "IRS Limit"). The IRS
Limit for 2009 was $245,000 and remains unchanged for 2010. Eligible employees generally are those employees who have
completed one year of service with the Company, who have annual base pay of at least 80% of the IRS Limit (or were eligible to
participate in the SERP as of December 31, 2007 and ceased to be eligible to participate in
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