Neiman Marcus 2007 Annual Report Download - page 74
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Table of Contents
Executive Benefits and
Payments Upon Separation
Termination
due to
death
($)(1)(5)
Termination
due to
disability
($)(2)(5)
Termination
without cause
or for
good reason
($)(3)
Change in
Control
($)(4)(5)
JAMES E. SKINNER
Compensation:
Severance $ — $ — $ 937,500 $ —
Benefits & Perquisites:
Retirement Plans 20,484 20,484 — 20,484
Deferred Compensation Plan 219,380 219,380 219,380 219,380
Cash Incentive Plan Payment — — — 970,497
Long-Term Disability — 240,000 — —
Health and Welfare Benefits — — 25,431 —
Life Insurance Benefits — — — —
Total James E. Skinner $ 239,864 $ 479,864 $ 1,182,311 $ 1,210,361
BRENDAN L. HOFFMAN
Compensation:
Severance $ — $ — $ 795,000 $ —
Benefits & Perquisites:
Retirement Plans 12,565 12,565 — 12,565
Deferred Compensation Plan 59,890 59,890 59,890 59,890
Cash Incentive Plan Payment — — — 970,497
Long-Term Disability — 240,000 — —
Health and Welfare Benefits — — 33,271 —
Life Insurance Benefits — — — —
Total Brendan L. Hoffman $ 72,455 $ 312,455 $ 888,161 $ 1,042,952
JAMES J. GOLD
Compensation:
Severance $ — $ — $ 735,000 $ —
Benefits & Perquisites:
Retirement Plans 26,864 26,864 — 26,864
Cash Incentive Plan Payment — — — 970,497
Long-Term Disability — 240,000 — —
Health and Welfare Benefits — — 33,271 —
Life Insurance Benefits — — — —
Total James J. Gold $ 26,864 $ 266,864 $ 768,271 $ 997,361
Footnotes:
(1)
Represents a lump sum payout under the deferred compensation plans. See "Nonqualified Deferred Compensation" on
page 63 of this section.
(2)
Represents long-term disability payments of $20,000 per month for twelve months payable from the Company's long-
term disability insurance provider.
(3)
Represents a lump sum payment of one and one-half times base salary for each of Messrs. Skinner, Hoffman, and Gold.
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 64 of this section.
(4)
Represents a lump sum payment of $970,497 payable to each of Messrs. Skinner, Hoffman, and Gold under the Cash
Incentive Plan, more fully described on page 66 of this section.
(5)
Represents the lump sum balance of the amount held by each of Messrs. Skinner, Hoffman, and Gold in The Neiman
Marcus Group, Inc. Defined Contribution Supplemental Executive Retirement Plan, more fully described on page 63 of
this section.
69