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Deferred Compensation Plan
12 Months Ended
Dec. 28, 2012
Deferred Compensation Arrangements [Abstract]  
Deferred Compensation Plan

Note 12: Deferred Compensation Plan

 

The Company maintains a nonqualified deferred compensation plan for the benefit of a select group of highly compensated employees. Under this plan participants may elect to defer up to 100% of their compensation. Company assets that are earmarked to pay benefits under the plan are held in a rabbi trust and are subject to the claims of the Company’s creditors. As of December 28, 2012 and December 30, 2011, the invested amounts under the plan totaled $27,089,000 and $20,082,000, respectively. These assets are classified as trading securities and are recorded at fair market value with changes recorded as adjustments to other income and expense.

 

As of December 28, 2012 and December 30, 2011, vested amounts due under the plan totaled $26,984,000 and $19,927,000, respectively. Changes in the liability are recorded as adjustments to compensation expense. During the fiscal years 2012, 2011 and 2010, the Company recognized compensation expense of $2,158,000, $(273,000), and $1,925,000 respectively, as a result of changes in the market value of the trust assets with the same amount being recorded as other income, net.