Neiman Marcus 2009 Annual Report Download - page 78

Table of Contents
Burton M. Tansky
Executive Benefits
and Payments Upon
Separation
Retirement
($)(1)(7)
Termination
due to
death
($)(2)(7)
Termination
due to
disability
($)(3)(7)
Termination
without
cause
or
for good
reason
($)(4)(7)
Change in
Control
($)(5)(7)
Termination
without good
reason 6
months
following a
change in
control
($)(6)(7)
Compensation:
Severance $ — $ — $ — $ 5,765,760 $ — $ 4,268,160
Bonus — 1,272,960 1,272,960 3,818,880 — 2,545,920
Stock Options — 3,264,768 3,264,768 816,192 3,264,768 3,264,768
Benefits & Perquisites:
Retirement Plans 3,500,000 — — — — —
Cash Incentive Plan Payment — — — — 3,080,911 —
Long-Term Disability — — 240,000 — — —
Health and Welfare Benefits — — — 61,430 61,430 61,430
Life Insurance Benefits — 1,000,000 — 67,710 67,710 67,710
Total $ 3,500,000 $ 5,537,728 $ 4,777,728 $ 10,529,972 $ 6,474,819 $ 10,207,988
Footnotes:
(1) Represents the SERP enhancement provided in Mr. Tansky's employment agreement.
(2) Represents the estimated present value of amounts payable to Mr. Tansky's beneficiaries upon his death: A lump sum
payment of 85% of Mr. Tansky's base salary provided pursuant to his employment contract (see "Employment and Other
Compensation Agreements" beginning on page 69 of this section); the value of all unvested equity incentive awards
(calculated by taking the difference between the exercise price and $1,576, the estimated fair value of our common stock
as of the end of the fiscal year); a lump sum basic life insurance benefits payment of $1,000,000 payable by the
Company's life insurance provider, and a lump sum amount payable under the Cash Incentive Plan, more fully described
on page 73 of this Section.
(3) Represents a lump sum payment of 85% of Mr. Tansky's base salary provided pursuant to his employment contract (see
"Employment and Other Compensation Agreements" beginning on page 69 of this section), the value of all unvested
equity incentive awards (calculated as in Footnote (2) above), and $20,000 per month payable for 12 months pursuant to
the terms and conditions of the Company's long-term disability plan provider.
(4) Represents a lump sum payment of three times base salary in effect at the time of termination, 85% percent of base salary
in effect at the time of termination, and three times 85% of base salary provided pursuant to his employment contract (see
"Employment and Other Compensation Agreements" beginning on page 69 of this section). The value of all unvested
equity incentive awards that would be come exercisable following the next anniversary of the Effective Date, as that date
is defined in Mr. Tansky's employment agreement, (calculated as in Footnote (2) above). The amount included for health
and welfare benefits represents a continuation of COBRA benefits for a period of three years. Calculations were based
on COBRA rates currently in effect. The amount included for life insurance represents coverage for a period of three
years at the same benefit level in effect at the time of termination. See "Employment and Other Compensation
Agreements" beginning on page 69 of this section.
(5) Represents a lump sum amount payable under the Cash Incentive Plan, more fully described on page 73 of this section,
the value of all unvested equity incentive awards (calculated as in Footnote (2) above), and life insurance coverage for a
period of three years at the same benefit level in effect at the time of termination.
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