Einstein Bros 2007 Annual Report Download - page 74

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http://www.sec.gov/Archives/edgar/data/949373/000104746908002111/a2183061z10-k.htm[9/11/2014 10:12:02 AM]
$0.00 - $10.00 50,700 $ 8.00 4.25 — $ —
$10.01 - $20.00 24,213 18.43 4.25 — —
$20.01 - $30.00 2,000 23.70 4.85 — —
76,913 $ 11.69 4.26 — $ —
Warrants
As of January 1, 2008, we had no warrants outstanding and exercisable to purchase shares of our common stock. The warrants were issued in
connection with private financing transactions and certain other services that occurred between 2000 and 2003. Transactions during fiscal 2005 and
2006 were as follows:
2005
2006
Outstanding at beginning of year 961,391 739,961
Issued — —
Exercised (216,359) (482,862)
Converted —
Forfeited (5,071) (257,099)
Outstanding and exercisable at end of year 739,961 —
During 2006, we received total consideration of $55,000 and issued 53,217 shares of our common stock in connection with the exercises of
certain warrants previously granted to a number of investors, including Greenlight. Additionally we issued 429,645 shares of our common stock to
Greenlight upon Greenlight's cashless exercises of certain warrants. Greenlight surrendered 56,953 shares of common stock in connection with
such cashless exercises.
16. SAVINGS PLAN
We sponsor a qualified defined contribution retirement plan covering eligible employees of Einstein Noah Restaurant Group (the "401(k)
Plan"). Employees, excluding officers, are eligible to participate in the plan if they meet certain compensation and eligibility requirements. The
401(k) Plan
88
EINSTEIN NOAH RESTAURANT GROUP, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
16. SAVINGS PLAN (Continued)
allows participating employees to defer the receipt of a portion of their compensation and contribute such amount to one or more investment
options. We did not accrue a discretionary match for 2007. Our contribution to the plan was $0.3 million, $0.2 million, and $0 million for 2005,
2006, and 2007, respectively. Employer contributions vest at the rate of 100% after three years of service.
We established the Einstein Noah Restaurant Group, Inc. Nonqualified Deferred Compensation Plan (the "DC Plan") in June of 2007 for key
employees, generally officers of the Company. The DC Plan allows an eligible employee to defer up to 80% of the participant's base salary and
bonus. In lieu of payments of the deferred amounts to the participant, the payments are to be invested with The Charles Schwab Trust Company
under investment criteria directed by the participant.
17. INCOME TAXES
We record deferred tax assets and liabilities based on the difference between the financial statement and income tax basis of assets and