11.

Post-Employment Benefit Obligations

Supplemental Retirement Income Plan

We have an unfunded Supplemental Retirement Income Plan (the “Supplemental Plan”) that covers one current and certain former executives. Upon retirement, the Supplemental Plan provides for lifetime monthly payments in an amount equal to 65% of the participant’s final average compensation as defined in the Supplemental Plan, which is reduced by certain social security benefits to be received and other benefits provided by us. The Supplemental Plan also provides a death benefit that is calculated as (a) prior to retirement death, which pays the beneficiary 50% of final average annual compensation for a period of 120 months, or (b) post-retirement death, which pays the beneficiary 200% of final average compensation in a single payment. We own life insurance policies on these executives with a current net death benefit of $3,087 at November 28, 2015 and we expect to substantially fund this death benefit through the proceeds received upon the death of the executive. Funding for the remaining cash flows is expected to be provided through operations. There are no benefits payable as a result of a termination of employment for any reason other than death or retirement, other than a change of control provision which provides for the immediate vesting and payment of the retirement benefit under the Supplemental Plan in the event of an employment termination resulting from a change of control.

Summarized information for the plan measured as of the end of each year presented, is as follows:

	2015			2014
Change in Benefit Obligation:
Projected benefit obligation at beginning of year	$	10,376		$	9,775
Service cost		105			78
Interest cost		374			373
Actuarial losses		1,372			1,084
Benefits paid		(549	)		(934	)
Projected benefit obligation at end of year	$	11,678		$	10,376

Accumulated Benefit Obligation	$	10,967		$	9,748

Discount rate used to value the ending benefit obligations:		3.75	%		3.75	%

Amounts recognized in the consolidated balance sheet:
Current liabilities	$	749		$	724
Noncurrent liabilities		10,929			9,652
Total amounts recognized	$	11,678		$	10,376
Amounts recognized in accumulated other comprehensive income:
Transition obligation	$	127		$	170
Actuarial loss		4,223			3,046
Net amount recognized	$	4,350		$	3,216

Total recognized in net periodic benefit cost and accumulated other comprehensive income:	$	1,851		$	1,535

	2015		2014		2013

Components of Net Periodic Pension Cost:
Service cost	$	105	$	78	$	71
Interest cost		374		373		350
Amortization of transition obligation		42		42		42
Amortization of other loss		195		123		81

Net periodic pension cost	$	716	$	616	$	544

Assumptions used to determine net periodic pension cost:
Discount rate	3.75	%	3.75	%	4.25	%
Increase in future compensation levels	3.00	%	3.00	%	3.00	%

Estimated Future Benefit Payments (with mortality):
Fiscal 2016							749
Fiscal 2017							717
Fiscal 2018							684
Fiscal 2019							652
Fiscal 2020							619
Fiscal 2021 through 2024							4,442

Of the $4,350 recognized in accumulated other comprehensive income at November 28, 2015, $42 of net transition obligation and $323 of net loss are expected to be recognized as components of net periodic pension cost during fiscal 2016.

Deferred Compensation Plan

We have an unfunded Deferred Compensation Plan that covers one current and certain former executives and provides for voluntary deferral of compensation. This plan has been frozen with no additional participants or benefits permitted. We recognized expense of $248, $134, and $288 in fiscal 2015, 2014, and 2013, respectively, associated with the plan. The expense for fiscal 2014 is net of a credit to income of $124 due to a change in our estimate of the future obligation of a former employee. Our liability under this plan was $2,085 and $2,174 as of November 28, 2015 and November 29, 2014, respectively. The non-current portion of this obligation is included in post-employment benefit obligations in our consolidated balance sheets, with the current portion included in accrued compensation and benefits.

Defined Contribution Plan

We have a qualified defined contribution plan (Employee Savings/Retirement Plan) that covers substantially all employees who elect to participate and have fulfilled the necessary service requirements. Employee contributions to the Plan are matched at the rate of 20% of up to 8% of gross pay, regardless of years of service. Expense for employer matching contributions was $662, $397 and $340 during fiscal 2015, 2014 and 2013, respectively. The increase in contribution expense for fiscal 2015 over prior years was largely due to an increase in the matching rate from 15% in 2014 to 20% in 2015, as well as the acquisition of Zenith.