Neiman Marcus 2014 Annual Report Download - page 86
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Table of Contents
Severance
$ —
$ —
$ —
$ 4,950,000
$ —
Bonus
—
1,375,000
1,375,000
1,375,000
—
Option Acceleration
1,029,059
—
—
1,029,059
4,116,195
Retirement Plan Enhancement
196,000
—
—
—
—
DC SERP
481,318
481,318
481,318
481,318
481,318
Deferred Compensation Plan
394,216
394,216
394,216
394,216
394,216
Long-Term Disability
—
—
240,000
—
—
Health and Welfare Benefits
—
—
—
57,984
—
Life Insurance Benefits
—
1,000,000
—
7,795
—
$ 2,100,593
$ 3,250,534
$ 2,490,534
$ 8,295,372
$ 4,991,729
(1) Represents the SERP Plan enhancement provided in Ms. Katz’s employment agreement, 12 months' acceleration of Ms. Katz's time-vested stock
options, and a lump sum payout under the deferred compensation plans. See “Non-qualified Deferred Compensation” for a more detailed discussion
of the deferred compensation plans.
(2) Represents Ms. Katz’s target bonus (payable in a lump sum), 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 Ms. Katz’s
beneficiaries upon her death.
(3) Represents Ms. Katz’s target bonus (payable in a lump sum), 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 a lump sum payment of two times target bonus and two times base salary, an additional one times target bonus (payable in a lump sum),
12 months' acceleration of Ms. Katz's time-vested stock options, and a lump sum payout under the deferred compensation plan and defined
contribution plan. The amount included for health and welfare benefits represents a lump-sum payment equal to the value of 18 months of COBRA
premiums and six months of retiree medical premiums. Calculations were based on COBRA rates currently in effect. The amount included for life
insurance represents coverage for a period of two years at the same benefit level in effect at the time of termination. See “Employment and Other
Compensation Agreements” in this section.
(5) Represents full acceleration of Ms. Katz's time-vested stock options (applicable only in connection with a termination by the Company without
cause or by Ms. Katz for good reason (i) prior to an initial public offering and (ii) following a change in control) and a lump sum payout under the
deferred compensation plan and defined contribution plan.
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