Other Stock and Retirement Plans

a)Restricted Stock Plan

The Company has restricted stock plans under which key employees and directors may be awarded restricted stock. Awards under the restricted stock plan may be performance-accelerated shares or performance-restricted shares. (See Note 1(u)).

As of February 28, 2015, approximately 1,437,000 shares of the Company's Class A common stock are reserved for issuance under the Company's Restricted and Stock Option Plans.

b)Supplemental Executive Retirement Plan

During Fiscal 2014, the Company established a Supplemental Executive Retirement Plan ("SERP") to provide additional retirement income to its Chairman and select executive officers. Subject to certain performance criteria, service requirements and age restrictions, employees who participate in the SERP will receive restricted stock awards. The restricted stock awards vest on the later of three years from the date of participation in the SERP, or the grantee reaching the age of 65 years (refer to Note 1(u)).

c)Profit Sharing Plans

The Company has established two non-contributory employee profit sharing plans for the benefit of its eligible employees in the United States and Canada. The plans are administered by trustees appointed by the Company. No contributions were made during the years ended February 28, 2015, February 28, 2014 and February 28, 2013. Contributions required by law to be made for eligible employees in Canada were not material for all periods presented.

d)401(k) Plans

The VOXX International 401(k) plan is for all eligible domestic employees. The Company matches a portion of the participant's contributions after three months of service under a predetermined formula based on the participant's contribution level. Shares of the Company's Common Stock are not an investment option in the Savings Plan and the Company does not use such shares to match participants' contributions. During the years ended February 28, 2015, February 28, 2014 and February 28, 2013, the Company contributed, net of forfeitures, $629, $215 and $157 to the 401(k) Plan.

e)Cash Bonus Profit Sharing Plan

During Fiscal 2009, the Board of Directors authorized a Cash Bonus Profit Sharing Plan that allows the Company to make profit sharing contributions for the benefit of eligible employees, for any fiscal year based on a pre-determined formula on the Company's pre-tax profits. The size of the contribution is dependent upon the performance of the Company. A participant’s share of the contribution is determined pursuant to the participant’s eligible wages for the fiscal year as a percentage of total eligible wages for all participants. During the year ended February 28, 2011, this plan was temporarily suspended and the Company elected to pay back previous temporary salary reductions to all employees, in lieu of contributions to the Profit Sharing Plan. The plan has remained suspended for the years ended February 28, 2015, February 28, 2014 and February 28, 2013 and will be reinstated only after all other suspended benefits of the Company have been restored.

f)Deferred Compensation Plan

Effective December 1, 1999, the Company adopted a Deferred Compensation Plan (the Plan) for Vice Presidents and above. The Plan is intended to provide certain executives with supplemental retirement benefits as well as to permit the deferral of more of their compensation than they are permitted to defer under the Profit Sharing and 401(k) Plans. The Plan provides for a matching contribution equal to 25% of the employee deferrals up to $20. On February 1, 2008, the Company temporarily suspended all matching contributions to contain operating expenses until economic conditions improve. The matching contributions have remained suspended for the years ended February 28, 2015, February 28, 2014 and February 28, 2013. The Plan is not intended to be a qualified plan under the provisions of the Internal Revenue Code. All compensation deferred under the Plan is held by the Company in an investment trust which is considered an asset of the Company. The Company has the option of amending or terminating the Plan at any time.

The investments, which amounted to $4,523 and $4,244 at February 28, 2015 and February 28, 2014, respectively, have been classified as long-term marketable securities and are included in investment securities on the accompanying consolidated balance sheets and a corresponding liability is recorded with $250 recorded in accrued expenses and the balance in deferred compensation which is classified as a long-term liability. Unrealized gains and losses on the marketable securities and corresponding deferred compensation liability net to zero in the accompanying Consolidated Statements of Operations and Comprehensive Income (Loss).

g)Defined Benefit Pension Plan

The Company sponsors an employer financed defined benefit pension plan ("the plan") at its Hirschmann subsidiary, which covers eligible regular full-time employees. The plan provides for retirement and disability benefits for participating employees, and are only granted if the participating employee is at least 25 years of age and has completed ten years of service. The retirement age as it pertains to the plan is 65. Benefits available under the plan are generally determined by years of service and the levels of compensation during those years. In October 1994, the benefits under this plan were closed to new participants and pension benefits continue to accrue only for previously existing plan members still employed by Hirschmann. The discount rate used for the valuation of the pension obligation at February 28, 2015 and 2014 was 1.65% and 3.3%, respectively. No contributions were made to the plan during the years ended February 28, 2015, 2014 or 2013, and the plan has no assets. The unfunded balance of the plan at February 28, 2015 and 2014 is equal to the total plan liability of $8,072 and $7,846, respectively.

Following is the reconciliation of the pension benefit obligation for the years ended February 28, 2015 and February 28, 2014.



Pension benefit obligation	Fiscal 2015			Fiscal 2014
Beginning balance	$	7,846		$	6,911
Interest cost	208			262
Benefits paid	(130		)	(143		)
Actuarial loss	1,640			318
Effect of foreign exchange	(1,492		)	498
Ending balance	$	8,072		$	7,846

As of February 28, 2015 and February 28, 2014 the following amounts were recognized in the balance sheet and in accumulated other comprehensive income:



Balance Sheet	February 28, 2015		February 28, 2014
As a current liability	$	180	$	179
As a non-current liability	$	7,892	$	7,667

Accumulated Other Comprehensive Income	Fiscal 2015		Fiscal 2014
Actuarial loss	$	1,640	$	318

Pension expense for the years ended February 28, 2015, February 28, 2014 and February 28, 2013 comprised the following:



	Fiscal 2015		Fiscal 2014		Fiscal 2013
Interest cost	$	208	$	262	$	284
	$	208	$	262	$	284

Pension expense is recorded within General and Administrative Expenses on the Consolidated Statement of Operations and Comprehensive Income (Loss).

The benefits expected to be paid by the Company to retirees participating in the plan in each of the next five years and thereafter are as follows:



2015	$	180
2016	209
2017	209
2018	245
2019	246
Thereafter	6,983
	$	8,072