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Note 13 - Subsequent Events
6 Months Ended
Sep. 23, 2012
Subsequent Events [Text Block]
NOTE M – SUBSEQUENT EVENTS

On November 1, 2012 Nathan’s and its Executive Chairman entered into a 5-year extension of his employment agreement through December 31, 2017. Pursuant to the amended employment agreement, annual compensation shall be $600,000 per annum and 50,000 shares of Restricted Stock shall also be provided. Rights to these shares vest as follows: 10,000 shares vested upon the execution of the agreement and 10,000 shares shall vest annually on the first, second, third and fourth anniversaries of the amended employment agreement.

As a result of Hurricane Sandy, the Company's restaurant in Coney Island suffered extensive damage and as a result it has been forced to temporarily close. While the Company believes its property and other insurance will significantly defray the cost of fixing the restaurant and compensating the Company for its lost revenues during the period the restaurant is closed, there can no assurance that such insurance will be sufficient to compensate the Company for the construction costs or the lost revenue. In addition, the Company is still assessing the financial impact of Hurricane Sandy on its other Company owned restaurants and its franchise locations in the northeast.