Other Compensation Plans

Defined Contribution Plan: We have a defined contribution plan (401(k)) that is available to substantially all employees who have at least 1,000 hours of service. Annual matching contributions to the 401(k) plan are at the discretion of our Board of Directors, and are based on calendar-year contributions of plan participants. Expenses related to matching contributions to these plans for continuing operations in fiscal 2015, fiscal 2014 and fiscal 2013 were $1,418, $452 and $3,885 respectively, and are primarily recorded within S,G&A.

Nonqualified Deferred Compensation Plans: We have three nonqualified deferred compensation plans, the Bob Evans Executive Deferral Plans I and II (collectively referred to as “BEEDP”) and Bob Evans Directors’ Deferral Plan (“BEDDP”), which provides certain executives and Board of Directors members, respectively, the opportunity to defer a portion of their current year salary or stock compensation to future years. A third party manages the investments of employee deferrals. Expenses related to investment results of these deferrals are based on the change in quoted market prices of the underlying investments elected by plan participants, and totaled $1,351, $1,942, and $1,788 in fiscal 2015, 2014, and 2013 respectively, and are recorded within S,G&A.

Obligations to participants who defer stock compensation through our deferral plans are satisfied only in company stock. There is no change in the vesting term for stock awards that are deferred into these plans. Obligations related to these deferred stock awards are treated as "Plan A" instruments, as defined by ASC 710. These obligations are classified as equity instruments within the Capital in excess of par value line of the Consolidated Balance Sheets. No subsequent changes in fair value are recognized in the Consolidated Financial Statements for these instruments. Participants earn share-based dividend equivalents in an amount equal to the value of per-share dividends paid to common shareholders. These dividends accumulate into additional shares of common stock, and are recorded through retained earnings in the period in which dividends are paid. Vested, deferred shares are included in the denominator of basic and diluted EPS in accordance with ASC 260 - Earnings per Share. The dilutive impact of unvested, deferred stock awards is included in the denominator of our diluted EPS calculation. Refer to Note 6 for additional information on stock-based compensation.

Participants who defer cash compensation into our deferral plans have a range of investment options, one of which is company stock. Obligations for participants who choose this investment election are satisfied only in shares of company stock, while all other obligations are satisfied in cash. These share-based obligations are treated as "Plan B" instruments, as defined by ASC 710. These deferred compensation obligations are recorded as liabilities on the Consolidated Balance Sheets, in the Deferred compensation line. We record compensation cost for subsequent changes in fair value of these obligations. Participants earn share-based dividend equivalents in an amount equal to the value of per-share dividends paid to common shareholders. These dividends accumulate into additional shares of common stock, and are recorded as compensation cost in the period in which the dividends are paid. At April 24, 2015, our deferred compensation obligation included $2,676 of share based obligations, which represents approximately 59,000 shares. The dilutive impact of these shares are included in the denominator of our EPS calculation. Compensation cost (benefit) recognized on the adjustment of fair value for deferred awards was immaterial in the current and prior year. Also refer to the "Corrections of a Prior Period Error" section of Note 1 for information on adjustments related to these deferred compensation obligations made in fiscal 2015.

Supplemental Executive Retirement Plan: The Supplemental Executive Retirement Plan ("SERP") provides awards to a limited number of executives in the form of nonqualified deferred cash compensation. Gains and losses related to these benefits and the related investment results are recorded within the S,G&A caption in the consolidated statements of net income. Our expense related to cash contributions to the SERP was $526; $580; and $542 in fiscal 2015, fiscal 2014 and fiscal 2013, respectively and are recorded within S,G&A.

Deferred compensation liabilities expected to be satisfied in the next 12 months are classified as current liabilities in the Accrued wages and other liabilities line of the Consolidated Balance Sheets. Our deferred compensation liabilities as April 24, 2015, and April 25, 2014, consisted of the following:



(in thousands)	April 24, 2015			April 25, 2014
Deferred cash obligations in BEEDP and BEDDP plans	$	17,904		$	18,789
Deferred cash obligations in SERP plan	9,198			9,704
Deferred liability for share-based obligations in BEEDP and BEDDP plans	2,676			2,475
Other noncurrent compensation arrangements (1)	958			1,323
Total deferred compensation liabilities	$	30,736		$	32,291
Less current portion	(8,255		)	(1,950		)
Noncurrent deferred compensation liabilities	$	22,481		$	30,341

(1) The April 24, 2015, balance primarily related to the noncurrent portion of severance owed to our former Chief Executive Officer, see Note 8 for more details. The April 25, 2014, balance primarily related to the noncurrent portion of deferred payments to former employees of Kettle Creations, which was acquired by the Company in fiscal 2013.

Vacation Benefits: Effective January 1, 2015, we made modifications to our vacation benefit policy for salaried employees, which resulted in a reduction to our accrued vacation liability of $3,636 during the year. Vacation benefits for salaried employees are now earned ratably throughout the year. The benefit was recorded primarily in the Operating wages and fringe benefit expenses line in the Consolidated Statements of Net Income.