Neiman Marcus 2010 Annual Report Download - page 81
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Table of Contents
James E. Skinner
Executive Benefits
and Payments Upon
Separation
Retirement
($)(1)
Termination
due to
death
($)(2)
Termination
due to
disability
($)(3)
Termination
without cause
or
for good
reason
($)(4)
Change in
Control
($)(5)
Compensation:
Severance $ — $ — $ — $ 2,363,132 $ —
Bonus — 525,000 525,000 525,000 —
Benefits & Perquisites:
Retirement Plans 306,865 306,865 306,865 306,865 306,865
Deferred Compensation Plan 468,092 468,092 468,092 468,092 468,092
Cash Incentive Plan Payment — — — — 1,294,494
Long-Term Disability — — 240,000 — —
Health and Welfare Benefits — — — — —
Life Insurance Benefits — 1,000,000 — — —
Total $ 774,957 $ 2,299,957 $ 1,539,957 $ 3,663,089 $ 2,069,451
Footnotes:
(1) Represents a lump sum payout under the deferred compensation plans. See "Nonqualified Deferred Compensation"
beginning on page 69 of this section.
(2) Represents Mr. Skinner's target bonus, 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 Mr. Skinner's beneficiaries upon his death.
(3) Represents Mr. Skinner's target bonus, 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 1.5 times Mr. Skinner's base salary payable over an eighteenth month period, a lump sum payment of target
bonus, 1.5 times target bonus, the portion of the salary payment that is exempt from 409A of the Code, a lump sum payout
under the deferred compensation and defined contribution plans, and eighteen months of COBRA premiums.
Calculations were based on COBRA rates currently in effect. See "Employment and Other Compensation Agreements" on
page 70 of this section.
(5) Represents a lump sum payout under the deferred compensation plan and defined contribution plan and a lump sum
amount payable under the Cash Incentive Plan, more fully described beginning on page 72 of this section.
75