Neiman Marcus 2012 Annual Report Download - page 75
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Table of Contents
Karen W. Katz
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 $ — $ — $ — $ 3,210,000 $ —
Bonus —1,070,000 1,070,000 2,140,000 —
Benefits & Perquisites:
Retirement Plan Enhancement 156,000 — — — —
DC SERP 1,081,053 1,081,053 1,081,053 1,081,053 1,081,053
Deferred Compensation Plan 2,198,342 2,198,342 2,198,342 2,198,342 2,198,342
Cash Incentive Plan Payment — — — — 2,229,404
Long-Term Disability — — 240,000 — —
Health and Welfare Benefits — — — 55,855 —
Life Insurance Benefits —1,000,000 —6,249 —
Total $3,435,395 $5,349,395 $4,589,395 $8,691,499 $5,508,799
(1) Represents the SERP Plan enhancement provided in Ms. Katz’s employment agreement and a lump sum payout under the deferred compensation
plans. See “Nonqualified Deferred Compensation” beginning on page 68.
(2) Represents Ms. Katz’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 Ms. Katz’s beneficiaries upon her
death.
(3) Represents Ms. Katz’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 a lump sum payment of the target bonus and two times base salary, two times target bonus and a lump sum payout under the
deferred compensation plan and defined contribution plan. The amount included for health and welfare benefits represents a lump-sum payment
equal to the value of 18 months of COBRA premiums. Calculations were based on COBRA rates currently in effect. The amount included for
life insurance represents coverage for a period of two years at the same benefit level in effect at the time of termination. See “Employment and
Other Compensation Agreements” beginning on page 69.
(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 71.
72