Neiman Marcus 2012 Annual Report Download - page 76
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Table of Contents
James E. Skinner
Executive Benefits and
Payments Upon Separation
Retirement
($)(1)
Termination
due to death
($)(2)
Termination
due to
disability
($)(3)
Termination
without cause or
for good reason
($)(4)
Change in
Control
($)(5)
Compensation:
Severance $ — $ — $ — $ 2,400,000 $ —
Bonus —540,000 540,000 540,000 —
Benefits & Perquisites:
DC SERP 739,054 739,054 739,054 739,054 739,054
Deferred Compensation Plan 750,029 750,029 750,029 750,029 750,029
Cash Incentive Plan Payment — — — — 1,114,577
Long-Term Disability — — 240,000 — —
Health and Welfare Benefits — — — 44,253 —
Life Insurance Benefits —1,000,000 — — —
Total $ 1,489,083 $ 3,029,083 $2,269,083 $4,473,336 $2,603,660
(1) Represents a lump sum payout under the deferred compensation plans. See “Nonqualified Deferred Compensation” beginning on page 68.
(2) Represents Mr. Skinner’s target bonus, a lump sum payout under the deferred compensation plan and defined contribution plan, and a lump
sum basic life insurance benefit payment of $1,000,000 payable by the Company’s life insurance provider to Mr. Skinner’s beneficiaries upon
his death.
(3) Represents Mr. Skinner’s target bonus, lump sum payout under the deferred compensation plan and defined contribution plan, and long-term
disability payments of $20,000 per month for twelve months payable from the Company’s long-term disability insurance provider.
(4) Represents 1.5 times Mr. Skinner’s base salary payable over an eighteenth month period, a lump sum payment of target bonus, 1.5 times target
bonus, the portion of the salary payment that is exempt from 409A of the Code, a lump sum payout under the deferred compensation and
defined contribution plans. The amount included for health and welfare benefits represents eighteen months of COBRA premiums. Calculations
were based on COBRA rates currently in effect. See “Employment and Other Compensation Agreements” beginning on page 69.
(5) Represents a lump sum payout under the deferred compensation plan and defined contribution plan and a lump sum amount payable under the
Cash Incentive Plan, more fully described beginning on page 71.
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