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Subsequent Events
12 Months Ended
Dec. 30, 2017
Subsequent Events

Q. Subsequent Events

As disclosed in Note L, on January 1, 2018 the Company granted stock options and restricted stock awards and employees elected to purchase shares under the investment share purchase program.

On February 14, 2018, the Company announced that David Burwick will join the Company as its President and Chief Executive Officer during the second quarter of 2018. The Company’s agreement with Mr. Burwick includes a base salary of $750,000, a sign-on bonus of $1.6 million and an annual target bonus of 100% of base salary. In the second quarter of 2018, the Company will grant Mr. Burwick restricted stock awards with a value at date of grant of $14.75 million with service based vesting through 2023 and a performance based stock option with a value at date of grant of $1.0 million and vesting through 2022.

The Company evaluated subsequent events occurring after the balance sheet date, December 30, 2017, and concluded that there were no other events of which management was aware that occurred after the balance sheet date that would require any adjustment to or disclosure in the accompanying consolidated financial statements.