Neiman Marcus 2008 Annual Report Download - page 73

Table of Contents
paid out upon a named executive officer's termination of employment can only be determined at the time of an executive's separation
from the Company.
Burton M. Tansky
Executive Benefits
and Payments Upon
Separation
Retirement
($)(1)(7)
Termination
due to
death
($)(2)(7)
Termination
due to
disability
($)(3)(7)
Termination
without
cause
or
for good
reason
($)(4)(7)
Change in
Control
($)(5)(7)
Termination
without good
reason 6
months
following a
change in
control
($)(6)(7)
Compensation:
Severance $ — $ — $ — $ 5,765,760 $ — $ 4,268,160
Bonus — 1,272,960 1,272,960 3,818,880 — 2,545,920
Stock Options — — — — — —
Benefits & Perquisites:
Retirement Plans 3,405,000 — — — — —
Cash Incentive Plan Payment — — — — 3,080,911 —
Long-Term Disability — — 240,000 — — —
Health and Welfare Benefits — — — 55,384 55,384 55,384
Life Insurance Benefits — 1,000,000 — 60,123 60,123 60,123
Total $ 3,405,000 $ 2,272,960 $ 1,512,960 $ 9,700,147 $ 3,196,418 $ 6,929,587
Footnotes:
(1) Represents the SERP enhancement provided in Mr. Tansky's employment agreement.
(2) Represents the estimated present value of amounts payable to Mr. Tansky's beneficiaries upon his death: A lump sum
payment of 85% of Mr. Tansky's base salary provided pursuant to his employment contract (see "Employment and
Other Compensation Agreements" on page 65 of this section); a lump sum basic life insurance benefits payment of
$1,000,000 payable by the Company's life insurance provider, and a lump sum amount payable under the Cash
Incentive Plan, more fully described on page 68 of this Section.
(3) Represents a lump sum payment of 85% of Mr. Tansky's base salary provided pursuant to his employment contract
(see "Employment and Other Compensation Agreements" on page 65 of this section) and $20,000 per month payable
for 12 months pursuant to the terms and conditions of the Company's long-term disability plan provider.
(4) Represents a lump sum payment of three times base salary in effect at the time of termination, 85% percent of base
salary in effect at the time of termination, and three times 85% of base salary provided pursuant to his employment
contract (see "Employment and Other Compensation Agreements" on page 65 of this section). The amount included for
health and welfare benefits represents a continuation of COBRA benefits for a period of three years. Calculations were
based on COBRA rates currently in effect. The amount included for life insurance represents coverage for a period of
three years at the same benefit level in effect at the time of termination. See "Employment and Other Compensation
Agreements" on page 65 of this section.
(5) Represents a lump sum amount payable under the Cash Incentive Plan, more fully described on page 68 of this section
and life insurance coverage for a period of three years at the same benefit level in effect at the time of termination.
(6) Represents a lump sum payment of 85% of base salary in effect at the time of termination, two times base salary, and
two times 85% of base salary provided pursuant to his employment contract (see "Employment and Other
Compensation Agreements" on page 65 of this section). The amount included for life insurance represents coverage for
a period of three years at the same benefit level in effect at the time of termination. The amount included for health and
welfare benefits represents a continuation of COBRA benefits for a period of three years. Calculations were based on
COBRA rates currently in effect.
(7) In addition, Mr. Tansky may become entitled to receive a portion (ranging from, as of August 1, 2009, 75% to 100%,
depending on the reason for the separation from service) of the Cash Incentive Plan Payment indicated under the
column entitled "Change in Control" if his employment is terminated for any reason other than Cause, and, subsequent
to such termination, a change in control or an initial public offering meeting certain conditions occurs.
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