Neiman Marcus 2014 Annual Report Download - page 90
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Table of Contents
Severance
$ —
$ —
$ —
$ 937,500
$ —
DC SERP
80,021
80,021
80,021
80,021
80,021
Long-Term Disability
—
—
240,000
—
—
Health and Welfare Benefits
—
—
—
53,262
—
Life Insurance Benefits
—
1,000,000
—
—
—
$ 80,021
$ 1,080,021
$ 320,021
$ 1,070,783
$ 80,021
Severance
$ —
$ —
$ —
$ 915,000
$ —
DC SERP
63,532
63,532
63,532
63,532
63,532
Long-Term Disability
—
—
240,000
—
—
Health and Welfare Benefits
—
—
—
29,211
—
Life Insurance Benefits
—
1,000,000
—
—
—
$ 63,532
$ 1,063,532
$ 303,532
$ 1,007,743
$ 63,532
(1) Represents a lump sum payout under the defined contribution plan. See “Non-qualified Deferred Compensation” for a detailed discussion.
(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.
Koryl and Schulman upon their death and a lump sum payout under the defined contribution plan.
(3) Represents long-term disability payments of $20,000 per month for twelve months payable from the Company’s long-term disability insurance
provider and a lump sum payout under the defined contribution plan.
(4) Represents a lump sum payment of 1.5 times base salary for each of Messrs. Koryl and Schulman. 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” in this section.
(5) Represents a lump sum payout under the DC SERP.
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