Jack In The Box 2013 Annual Report Download - page 70

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
The following table presents the changes in Level 3 investments for the qualified plan during 2012 and 2013 (in thousands):


$8,415
Actual return on plan assets:
Relating to assets still held at the reporting date
2,513
Relating to assets sold during the period
(15)
Purchases, sales and settlements
14,872

$25,785
Actual return on plan assets:
Relating to assets still held at the reporting date
$3,831
Relating to assets sold during the period
(6)
Purchases, sales and settlements
(258)
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$29,352
Future cash flows — Our policy is to fund our plans at or above the minimum required by law. As of the date of our last actuarial funding valuation, there
was no minimum requirement. Contributions expected to be paid in the next fiscal year and the projected benefit payments for each of the next five fiscal years
and the total aggregate amount for the subsequent five fiscal years are as follows ( in thousands):



Estimated net contributions during fiscal 2014
$24,392
$1,438
Estimated future year benefit payments during fiscal years:
2014
$15,785
$1,438
2015
$15,959
$1,470
2016
$16,028
$1,518
2017
$16,237
$1,617
2018
$16,941
$1,788
2019-2023
$101,388
$11,199
We will continue to evaluate contributions to our Qualified Plan based on changes in pension assets as a result of asset performance in the current market and
economic environment. Expected benefit payments are based on the same assumptions used to measure our benefit obligation at September 29, 2013 and
include estimated future employee service.
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Stock incentive plans — We offer share-based compensation plans to attract, retain and motivate key officers, employees and non-employee directors to work
toward the financial success of the Company.
Our stock incentive plans are administered by the Compensation Committee of the Board of Directors and have been approved by the stockholders of the
Company. The terms and conditions of our share-based awards are determined by the Compensation Committee for each award date and may include
provisions for the exercise price, expirations, vesting, restriction on sales and forfeitures, as applicable. We issue new shares to satisfy stock issuances under
our stock incentive plans.
Our Amended and Restated 2004 Stock Incentive Plan authorizes the issuance of up to 11,600,000 common shares in connection with the granting of stock
options, stock appreciation rights, restricted stock purchase rights, restricted stock bonuses, restricted stock units or performance units to key employees,
directors, and other designated employees. As of September 29, 2013, 3,297,947 shares of common stock were available for future issuance under this plan.
There are two other plans under which we can no longer issue awards, although awards outstanding under these plans may still vest and be exercised: the
2002 Stock Incentive Plan and the Non-Employee Director Stock Option Plan.
We also maintain a deferred compensation plan for non-management directors under which those who are eligible to receive fees or retainers may choose to defer
receipt of their compensation. The deferred amounts are converted to stock equivalents. The plan requires settlement in shares of our common stock based on
the number of stock equivalents at the time of a participant’s separation from the Board of Directors. This plan provides for the issuance of up to 350,000
shares of common stock in connection with the crediting of stock equivalents. As of September 29, 2013, 153,738 shares of common stock were available for
future issuance under this plan.
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