Jack In The Box 2014 Annual Report Download - page 73

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
The following table presents the changes in Level 3 investments for the Qualified Plan during 2013 and 2014 (in thousands):


$ 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
Actual return on plan assets:
Relating to assets still held at the reporting date
$ 3,520
Relating to assets sold during the period
18
Purchases, sales and settlements
(297)

$ 32,593
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 2015
$ 24,479
$ 1,269
Estimated future year benefit payments during fiscal years:
2015
$ 15,217
$ 1,269
2016
$ 15,520
$ 1,336
2017
$ 15,874
$ 1,419
2018
$ 16,468
$ 1,537
2019
$ 17,272
$ 1,700
2020-2024
$ 103,929
$ 9,123
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 obligations at September 28, 2014 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 28, 2014, 2,930,660 shares of common stock were available for future issuance under this plan.
There is one other plan under which we can no longer issue awards, although awards outstanding under this plan may still vest and be exercised: 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 and dividend 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 28, 2014, 143,122 shares of
common stock were available for future issuance under this plan.
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