Jack In The Box 2015 Annual Report Download - page 74

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
The following table presents the changes in Level 3 investments for the Qualified Plan during 2014 and 2015 (in thousands):

 $ 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
Actual return on plan assets:
Relating to assets still held at the reporting date $ 4,665
Relating to assets sold during the period 40
Purchases, sales and settlements (331)
 $ 36,967
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 2016
$ 24,477
$ 1,320
Estimated future year benefit payments during fiscal years:
2016
$ 14,548
$ 1,324
2017
$ 14,831
$ 1,403
2018
$ 15,361
$ 1,470
2019
$ 16,147
$ 1,673
2020
$ 17,233
$ 1,711
2021-2025
$ 105,016
$ 9,208
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 27, 2015 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 27, 2015, 2,590,664 shares of common stock were available for future issuance under this 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 27, 2015, 143,122 shares of
common stock were available for future issuance under this plan.
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