Neiman Marcus 2007 Annual Report Download - page 157
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Article 4. - RETIREMENT BENEFITS
4.1. Normal or Late Retirement Benefit. The amount of the monthly retirement benefit payable under the Plan to a Participant
who retires on or after his or her Normal Retirement Date, commencing on the first day of the month coinciding with or next
following his or her retirement and payable in the Normal Form, will be equal to (a) minus (b), but not less than zero, where
(a) is 50% of the Participant's average monthly Compensation for the highest sixty consecutive months preceding
retirement, less 60% of the Participant's Social Security Benefit, the result multiplied by a fraction the numerator of which is
the Participant's years of Service (not in excess of 25) and the denominator of which is 25; and
(b) is the monthly normal or late retirement benefit payable to the Participant under the Basic Plan (increased by his
or her monthly benefit, if any, under the Augmentation Plan and any Individual Pension Agreement), calculated as though
payable in the Normal Form.
4.2. Early Retirement Benefit.
(a) The amount of the monthly retirement benefit under this Plan payable in the Normal Form to a Participant who
has attained age 55 with at least 10 years of Service, and who retires thereafter (but prior to his or her Normal Retirement
Date), shall equal (1) minus (2), but not less than zero, where
(1) is the amount determined under Section 4.1(a) above, unreduced for early commencement if the benefit
starting date is on or after the Participant's 62nd birthday, reduced by 1/600th for each month
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