The Neiman Marcus Group, Inc. Executive Life Insurance Plan Description
Contract Categories:
Human Resources
›
Compensation Agreements
Summary
The Neiman Marcus Group, Inc. offers an Executive Life Insurance Plan for employees selected by the Employee Benefits Committee. Eligible employees receive permanent and portable life insurance coverage, with options for coverage up to five times their annual salary, capped at $3,000,000. The company pays for basic coverage equal to one times the employee's annual salary, while employees can purchase additional and dependent coverage at their own expense.
EX-10.6 7 d99632exv10w6.txt EX-10.6 DESCRIPTION OF EXECUTIVE LIFE INSURANCE EXHIBIT 10.6 THE NEIMAN MARCUS GROUP, INC. EXECUTIVE LIFE INSURANCE PLAN Employees, who are determined to be eligible by the Employee Benefits Committee, which administers the executive life insurance plan, receive a permanent and portable life insurance benefit available in multiples of one, two, three, four or five times annual salary up to $3,000,000 maximum. Basic life coverage up to one times the annual salary is fully paid by the Company. Supplemental and dependent coverage is paid by the employee.
