Neiman Marcus 2010 Annual Report Download - page 83
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Table of Contents
Executive Benefits and
Payments Upon
Separation
Retirement
($)(1)
Termination
due to
death
($)(1)(2)
Termination
due to
disability
($)(1)(3)
Termination
without cause
or for
good reason
($)(1)(4)
Change in
Control
($)(1)(5)
NELSON A. BANGS
Compensation:
Severance $ — $ — $ — $ 693,000 $ —
Benefits & Perquisites:
Retirement Plans 118,541 118,541 118,541 118,541 118,541
Deferred Compensation Plan 621,410 621,410 621,410 621,410 621,410
Cash Incentive Plan Payment — — — — 517,794
Long-Term Disability — — 240,000 — —
Health and Welfare Benefits — — — 44,948 —
Life Insurance Benefits — 1,000,000 — — —
Total for Nelson A. Bangs $ 739,951 $ 1,739,951 $ 979,951 $ 1,477,899 $ 1,257,745
PHILLIP L. MAXWELL
Compensation:
Severance $ — $ — $ — $ 618,000 $ —
Benefits & Perquisites:
Retirement Plan 250,182 250,182 250,182 250,182 250,182
Cash Incentive Plan Payment — — — — 478,967
Long-Term Disability — — 240,000 — —
Health and Welfare Benefits — — — 44,948 —
Life Insurance Benefits — 1,000,000 — — —
Total for Phillip L. Maxwell $ 250,182 $ 1,250,182 $ 490,182 $ 913,130 $ 729,149
GERALD A. BARNES
Compensation:
Severance $ — $ — $ — $ 652,500 $ —
Benefits & Perquisites:
Retirement Plans 107,483 107,483 107,483 107,483 107,483
Deferred Compensation Plan 38,353 38,353 38,353 38,353 38,353
Cash Incentive Plan Payment — — — — 258,906
Long-Term Disability — — 240,000 — —
Health and Welfare Benefits — — — 44,948 —
Life Insurance Benefits — 1,000,000 — — —
Total Gerald A. Barnes $ 145,836 $ 1,145,836 $ 385,836 $ 843,284 $ 404,742
Footnotes:
(1) Represents a lump sum payout under the deferred compensation plans. See "Nonqualified Deferred Compensation"
beginning on page 69 of this section.
(2) Represents a lump sum basic life insurance benefit payment of $1,000,000 payable by the Company's life insurance
provider to each of Messrs. Bangs, Maxwell, and Barnes upon their death.
(3) Represents long-term disability payments of $20,000 per month for twelve months payable from the Company's long-
term disability insurance provider.
(4) Represents a lump sum payment of one and one-half times base salary for each of Messrs. Bangs, Maxwell, and Barnes.
The amount included for health and welfare benefits represents a continuation of COBRA benefits for a period of eighteen
months. Calculations were based on COBRA rates currently in effect. See "Employment and Other Compensation
Agreements" on page 70 of this section.
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