Note 6 - Profit-sharing and ESOP Plan

12 Months Ended

Jul. 01, 2018

Notes to Financial Statements

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

6.

PROFIT-SHARING AND ESOP PLAN

The Company has

two

defined contribution plans. The

first

is a profit-sharing plan which, generally, covers all employees who on the last day of the fiscal year or

December 29

have been employed for

one

year with at least

one thousand

hours of service. The Plan provides for Company contributions as determined by the Board of Directors. For the years ended

July 1, 2018

and

July 2, 2017,

contributions in the amounts of

$113,000

and

$90,000,

respectively, were charged to operating expense.

Effective

March 31, 1987,

the Company adopted an Employee Stock Ownership Plan (ESOP) which generally covers all individuals who were employed at the end of the fiscal year and had

one thousand

or more hours of service during that fiscal year. The ESOP plan provides for Company contributions as determined by the Board of Directors. The Company contributed

$113,000

for fiscal year

2018

and

$90,000

for fiscal year

2017.

The Company has

no

defined benefit plan or other post retirement plan.