Jamba Juice 2008 Annual Report Download - page 134
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Table of Contents
At December 13, 2005, unpaid marketing fund contributions in the amount of $267,000, were included in accrued liabilities. As of December 13,
2005, the Company was in compliance with these marketing requirements.
The Company entered into two third-party distributor agreements whereby most of the Company’s retail and restaurant inventory is purchased. Either
party, given proper notice as specified in these agreements, may terminate these agreements at any time.
The Company may be involved in litigation arising from transactions in the ordinary course of business. Management believes that the ultimate liability,
if any, resulting from transactions in the ordinary course of business will not have a material effect on the financial condition and results of operations of the
Company.
The Company offers a 401(K) retirement savings plan (the “Plan”), where eligible employees may contribute up to 25 percent of their compensation, as
defined. The Company may make discretionary profit sharing contributions based on the employees’ compensation, as defined. Administrative expenses and
other costs to administer the Plan, unless paid directly by the Company, are paid for by the Plan. The Company made no discretionary contributions in 2005.
In 2001, the Company entered into a management agreement with Coffee Partners Hawaii (CPH), a Hawaii general partnership and affiliated entity.
Under the terms of this agreement, certain administrative services and/or support such as accounting, payroll administration, executive management, store
development, marketing, human resources, and training are to be provided to the Company in return for a management fee. The agreement also provides for
certain management and development consulting services to be provided to CPH by the Company. In 2005, the Company incurred CPH management fees of
approximately $172,000.
In 2002, the Company entered into a management agreement with affiliate Café Del Caribe, LLC (CDC), a Delaware limited liability company, whereby
certain executive management, administrative, marketing and store development services and/or support are provided to CDC in return for a management fee.
The Company recognized management fees of approximately $3,000 in 2005 in conjunction with this agreement.
In 2004, the Company entered into a consulting agreement with JJC for consultation regarding the design, development and construction of stores
constructed by the Company and the purchase of store furnishings and equipment. In 2005, the Company incurred consulting fees of $16,000, related to this
agreement.
In June 28, 2005, the Company entered into a management agreement with JJC for JJC to manage and perform all of the day-to-day operations of the
Company’s stores. JJC will also perform complete accounting services for the Company. In 2005, the Company incurred approximately $73,000 in
management fees.
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