Neiman Marcus 2010 Annual Report Download - page 67

Table of Contents
(2) For fiscal year 2011, the amount shown for Ms. Katz represents a one-time bonus payable in connection with the terms of her
employment contract. The amount for Mr. Maxwell for fiscal year 2011 represents an installment payment paid pursuant to a
retention bonus payable in three annual installments in 2010, 2011, and 2012. The amount for Mr. Maxwell in fiscal year 2010
includes the retention bonus installment of $333,333 plus $16,128 for a discretionary bonus. The amount shown for Marita
Glodt for fiscal year 2011 represents a retention bonus payable pursuant to a letter agreement wherein she agreed to postpone
retirement for a one-year period. The amount shown for Mr. Barnes represents a retention bonus to ensure leadership continuity
during the search for a division president. For fiscal year 2010, the amounts shown represent discretionary bonuses awarded by
the Compensation Committee.
(3) For new option awards in fiscal year 2011, these amounts reflect the aggregate grant date fair value for the awards computed in
accordance with ASC Topic 718. The amounts for the fiscal year 2010 stock option awards, which were made in connection
with a tender offer, reflect the incremental aggregate grant date fair value of the modified awards over the grant date fair value
of the original awards. Assumptions used in calculating the fiscal year 2011 amounts are described under the caption Stock-
Based Compensation in Note 10 of the Notes to Consolidated Financial Statements beginning on page F-31 of this Annual
Report on Form 10-K. No stock option awards were made in fiscal year 2009 to the named executive officers. These amounts
reflect the grant date fair value and do not represent the actual value that may be realized by the named executive officers.
(4) The amounts reported in the Non-Equity Incentive Plan Compensation column reflect the actual amounts earned under the
bonus plan described in the "Compensation Discussion and Analysis" section beginning on page 53.
(5) The amounts in this column represent the change in the actuarial value of the named executive officers' benefits under our
retirement and supplemental executive retirement plans from August 1, 2010 to July 30, 2011. This "change in the actuarial
value" is the difference between the fiscal year 2010 and fiscal year 2011 present value of the pension benefits accumulated as
of year-end by the named executive officers, assuming that benefit is not paid until age 65. The totals reflect Mr. Tansky's
retirement as of November 1, 2010 and Ms. Glodt's retirement as of July 1, 2011. These amounts were computed using the
same assumptions used for financial statement reporting purposes under ASC Subtopic 715-30, "Defined Benefit Plans —
Pension" as described in Note 9 of the Notes to Consolidated Financial Statements beginning on page F-25 of this Annual
Report on Form 10-K.
For fiscal year 2011, no earnings of each of the named executive officers in the KEDC plan exceeded 120 percent of the
applicable federal long-term rate.
(6) Includes all items listed in the following table entitled "All Other Compensation." In the interest of transparency, the value of
perquisites and other personal benefits is provided in this column and in the footnotes below even if the amount is less than the
reporting threshold established by the SEC.
The table below sets forth all other compensation for each of the named executive officers.
All Other Compensation
Burton
M.
Tansky
($)
Karen
W.
Katz
($)
James
E.
Skinner
($)
James
J.
Gold
($)
Nelson
A.
Bangs
($)
Phillip
L.
Maxwell
($)
Marita
Glodt
($)
Gerald
A.
Barnes
($)
401(k) plan contributions paid
by us $ — $ 11,025 $ 10,806 $ 7,788 $ 10,555 $ 11,025 $ 8,415 $ 11,025
Deferred compensation plan
match — 50,388 32,497 — 13,964 — 5,708 —
Group term life insurance 7,523 3,075 4,094 1,565 4,475 7,507 6,746 4,337
Medical benefit (1) 58,111
Financial counseling/tax
preparation 53,028 5,475 3,000 3,000 3,000 3,000 1,745 3,000
Long-term disability 370 1,480 1,480 1,480 1,480 1,480 1,357 1,480
Car allowance 2,250 — — — — — — —
New York travel
reimbursement (2) — 17,500 — — — — — —
Cost of living adjustment (3) — — — 34,615 — — — —
Moving expenses (4) — — — 616,144 — — — —
Gross-ups for New York
travel (2) — 9,820 — — — — — —
Gross ups for New York non-
resident taxes (5) 230,134 34,475 19,101 — — — — 17,283
TOTALS $ 351,416 $ 133,238 $ 70,978 $ 664,592 $ 33,474 $ 23,012 $ 23,971 $ 37,125
Footnotes:
(1) The medical benefit for Mr. Tansky represents a cash amount equal to the monthly COBRA premium applicable to him at the
time of his retirement multiplied by 60, payable pursuant to his employment agreement, more fully described on page 71 of
this section.