Jamba Juice 2012 Annual Report Download

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Table of Contents




x



¨



  











 


 ¨x
 ¨x


x¨


x¨


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
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



Table of contents

  • Page 1
    ... COMMISSION Washington, D.C. 20549 FORM 10-K x ¨ TNNUTL REPORT PURSUTNT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHTNGE TCT OF 1934 For the fiscal year ended January 3, 2012 OR TRTNSITION REPORT PURSUTNT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHTNGE TCT OF 1934 Jamba, Inc. (Exact name of...

  • Page 2
    Table of Contents JTMBT, INC. TNNUTL REPORT ON FORM 10-K FISCTL YETR ENDED JTNUTRY 3, 2012 Form 10-K Item No. Name of Item Page PTRT I Item 1. Item 1T. Item 1B. Item 2. Item 3. Item 4. BUSINESS RISKoFACTORS UNRESOLVEDoSTAFFoCOMMENTS PROPERTIES LEGALoPROCEEDINGS MINEoSAFETYoDISCLOSURE o 4oo o...

  • Page 3
    ... Special Note Regarding Forward-Looking Statements Weobelieveothatosomeoofotheoinformationoinothisodocumentoconstitutesoforward-lookingostatements.oYouocanoidentifyotheseostatementsobyoforward-looking wordsosuchoaso"may,"o"expect,"o"anticipate,"o"contemplate,"o"believe,"o"estimate,"o"intend,"o"plan...

  • Page 4
    ...,ofreshosqueezed juices,ohototeas,...Company",o"Jamba",o"we",o"us"oando"our."oInformationoregardingotheoCompany'sofiscaloperiodsoisoincludedoinoItemo7,o"Management's DiscussionoandoAnalysisoofoFinancialoConditionoandoResultsoofoOperations." Narrative Description of Business... The BLEND Plan-Our ...

  • Page 5
    ... passionoforotheobrand. Make Jamba a top-of-mind healthy food and beverage brand Weohaveotraditionallyoprovidedoaorangeoofofreshlyoblendedobeverages,obakedogoodsoandosnacksoinoourostores.oProductoinnovationoisoaohighopriorityoatothe Company...

  • Page 6
    .... Ourocommitmentotoohealthoandowellnessoinoschoolsoisoevidencedoinotheogrowthoofoouroparticipationoinoschoololunchoprogramsoinoovero40oCaliforniaoschool districts.oAnotherocomponentoofoourocommunityoengagementoeffortoisotheoenhancementoofoourofundraisingoopportunitiesoforonon-profitoorganizations...

  • Page 7
    ... Tccelerate global retail growth through new and existing formats Theofocusoofoouroglobaloretailoexpansionoisotheodevelopmentoofotraditionaloandonon-traditionaloFranchiseoStores....significantomarketoexpansionoopportunitiesoglobally. Jamba Juice-Domestic ...

  • Page 8
    ...,oColorado,oConnecticut,oFlorida,oHawaii,oIllinois,oIndiana, Kentucky,oLouisiana,oMaryland,oMassachusetts,oMinnesota,oNevada,oNewoJersey,oOhio...traditionalovenuesosuchoasocolleges, universities,oairportsoandootherotransitohubs...

  • Page 9
    ....oInoaddition,oasopart ofotheseorefranchisingotransactions,obuyersoofomatureoCompanyoStoresoareoobligatedotoorefreshoandorefurbishotheseostores. Jamba Juice-International Franchising Weohaveoacceleratedoourointernationalogrowthoagenda...

  • Page 10
    ...global CPG platform in Jamba-relevant categories ExtendingotheoJambaobrandointoomassoretailoacrossoallo50ostatesobyocontinuedodevelopmentoofoCPGosolutionsoprovidesosignificantobusinessoopportunities. ...oco-packingoagreementsoand salesoandodistributionoagreements. Pursue new ways to reduce costs ...

  • Page 11
    ... hasoenabledobetterotwo-wayofeedbackothatohasohelpedousotooidentifyobestopracticesoandotoofacilitateomoreoeffectiveoandoefficientolaunchoofonewoproductsoand marketingocampaigns. Company Store Management WeobelieveooperationaloexcellenceothroughoutotheoJambaosystemoisovitalotootheoCompany'sosuccess...

  • Page 12
    Table of Contents formaloprogramsosuchoasotheoManager-in-Trainingoprogramsoforonewomanagersoandoinformaloone-on-oneodiscussionsoheldobetweenoGeneraloManagers,oDistrict ManagersoandoRegionaloDirectorsoofoOperations....

  • Page 13
    ...-smoothieoretailersoasotheyoincreaseotheiroofferingsoofosmoothiesoandootherojuice-related products,oandoasoweoincreaseoourofoodoofferingsoweowillobeoplacingoourselvesointoodirectocompetitionowithootheroquickoserveofoodoconceptsowithowelloestablished businesses. Inoaddition...

  • Page 14
    ...fatofree"ooro"organic";o(g)oestablishorequirementsoconcerningowithholdingsoandoemployeeoreportingoofotaxesoonotipsoand (h)...RiskoFactors- Governmental regulation may adversely affect our ability to open new stores or otherwise adversely affect our existing and future operations...

  • Page 15
    ... ®oandotheoJambaologooareoofomaterialoimportanceotoothe Company.oTheodurationoofotrademarkoregistrationsovariesofromocountryotoocountry.oHowever...oInoaddition,otheoCompanyohasoregisteredoandomaintainsonumerousoInternetodomain names,oincludingo"jamba.com"oando"jambajuice.com." Management Information ...

  • Page 16
    ...James D. White, Chairman, President and Chief Executive Officer, age ... Karen L. Luey, Executive Vice President, Chief Financial Officer, Chief Tdministrative Officer and Secretary, age ...oRetail. Julie S. Washington, Senior Vice President and Chief Brand Officer, age 46 .... Employees AsoofoJanuaryo3...

  • Page 17
    ...ir...adverse impact on our business and financial results. Inofiscalo2011oweoimplementedoourostrategicoprioritiesounderoouroBLENDoPlano1.0,owhichoweobelievedonecessaryotoorevitalizeotheoCompanyoforofuture....0,owhichoweobelieveoaccelerates Jamba'sopathotooaohealthy,oactiveolifestyleobrandoandocreatesolong...

  • Page 18
    ... history of net losses and may incur losses in...with the many food services businesses may result in reductions in our revenue and operating margins. Weocompeteowithomanyowell-establishedocompanies,ofoodoserviceoandootherwise,oonotheobasisoofotaste...with climate change and climate change regulation. ...

  • Page 19
    ... of Contents Our revenue is subject to volatility... amount of our food distribution for our Company Stores. ForoCompanyoStores,oweomaintainofoododistributionocontractsoprimarilyowithooneosupplier.oThisosupplier...entering into new or modified arrangements with existing or new suppliers or new service ...

  • Page 20
    ...The Company's success depends on the value of the Jamba Juice and Jamba brands...,obrandsoorocompetitiveopositionoandocauseousotooincurosignificantopenaltiesoandocosts. Our business could be adversely affected by increased labor or healthcare costs. Self-insurance plan claims could materially... 2012....

  • Page 21
    ... Company'...business and results may be subject to disruption from work stoppages, terrorism or natural...loss of one or more members of our executive management team could adversely affect our business...

  • Page 22
    ...highly dependent on the financial performance of stores concentrated... storesomayohaveoaomaterialoimpactouponoourooperatingoresults. Acquisitions, joint ... regulation may adversely affect our ability to open new stores or otherwise adversely affect our existing and ...

  • Page 23
    .... Our federal, state and local tax returns may, from time to time, be selected for audit by the taxing authorities, which may result in tax assessments, interest or penalties that could have a material adverse impact on our results of operations and financial position. Weoareosubjectotoofederal...

  • Page 24
    ... areocontingentlyoliable. Expansion into new geographic markets may present....oFailureoofoourointernationaloexpansionostrategyocouldohaveoaomaterialoadverseoimpactoonoour resultsoofooperations. Termination or non-renewal...

  • Page 25
    ... revenue.oFurthermore,owhileoweowillobeoentitledotooterminateofranchiseoagreementsofollowingoaodefaultothatoisonotocuredowithinotheoapplicableocureoperiod,oifoany, theodisruptionotootheoperformanceoofotheostoresocouldomateriallyoandoadverselyoaffectoourobusiness. Our franchising strategy means...

  • Page 26
    ... cause customers to avoid our products, which could adversely affect our results of operations, business and financial condition. Foodoserviceobusinessesocanobeoadverselyoaffectedobyolitigationoandocomplaintsofromocustomersoorogovernmentoauthoritiesoresultingofromofoodoquality, allergens,oillness...

  • Page 27
    ...COMMON STOCK Failure of the Company's internal control over financial reporting could harm its business and financial results. ...may delay or prevent a change of control of us, which may adversely affect the price of our common stock....

  • Page 28
    ... for the sale of shares of the Series B Creferred (the "Securities Curchase Agreement") and the certificate of designation governing the Series B Creferred (the "Series B Certificate of Designation") contain various covenants and restrictions which may limit our ability to operate our business...

  • Page 29
    ...otherefore,otheoconductoofoour business. The... agreed to give the holders of...placement could adversely affect the market price of our common stock. EachoshareoofoSeriesoBoPreferredoStockoisoconvertibleointoothatonumberoofosharesoofocommonostockoequalotootheoquotientodeterminedobyodividingo$115o...time...

  • Page 30
    ... 3, 2012 Company Franchise Stores Stores Total United States Arizona California Colorado Connecticut Florida Hawaii Idaho Illinois Indiana Louisiana Maryland Massachusetts Minnesota NorthoCarolina NewoJersey Nevada NewoYork Ohio Oklahoma Oregon Pennsylvania Texas Utah Washington Wisconsin Total...

  • Page 31
    Table of Contents Inoaddition,otheoCompanyohado35oJambaGoolocationsoinosixostatesoasoofoJanuaryo3,o2012.oThereowereo21ostationsoinoCalifornia,oeightostationsoinoNew York,othreeostationsoinoMissourioandooneostationoinoeachoofoFlorida,oMassachusettsoandoNewoJersey. ITEM 3. LEGTL PROCEEDINGS ...

  • Page 32
    Table of Contents PTRT II ITEM 5. MTRKET FOR JTMBT, INC.'S COMMON EQUITY, RELTTED STOCKHOLDER MTTTERS TND ISSUER PURCHTSES OF EQUITY SECURITIES TheosharesoofoJamba,oInc.ocommonostockoareocurrentlyoquotedoonotheoNASDAQoGlobaloMarketounderotheosymboloJMBA. TheoclosingopriceoperoshareoofoJamba,...

  • Page 33
    ... eachoindexo(includingoreinvestmentoofodividends)owaso$100oonoJanuaryo9,o2007oinotheocaseoofoourocommonostockoandoanoinvestmentoinoanoindex. 1/9/07 1/1/08 12/30/08 12/29/09 12/28/10 1/3/12 Jamba Inc. NTSDTQ Composite Russell 2000 Russell MicroCap 33 100.00 100.00 100.00 100.00 37.99 110...

  • Page 34
    ...Statements of Operations Data Fiscal Year Ended Fiscal Year Ended Fiscal Year Ended Fiscal Year Ended Fiscal Year Ended January 3, 2012 December 28, 2010 December 29, 2009 December 30, 2008 January 1, 2008(1) Revenue...oincome: Gaino(loss)oonoderivativeoliabilities Interestoincome ...

  • Page 35
    Table of Contents Selected Balance Sheet Data (at period end) January 3, 2012 December 28, 2010 December 29, 2009 December 30, 2008 January 1, 2008 Cashoandocashoequivalents Totaloassets Noteopayable Totaloliabilities SeriesoBoredeemableopreferredostock Totalostockholders'oequity ...

  • Page 36
    Table of Contents TheofollowingotableosetsoforthocertainodataorelatingotooCompanyoStoresoandoFranchiseoStoresoforotheoperiodsoindicated: January 3, 2012 Fiscal year ended December 28, 2010 December 29, 2009 Company Stores: Beginningoofoyear CompanyoStoresoopened CompanyoStoresoclosed ...

  • Page 37
    ... that reflect our plans, estimates and beliefs. Actual results could differ from these expectations as a result of factors including those described under Item 1A, "Risk Factors," "Special Note Regarding Forward-Looking Statements" and elsewhere in this Form 10-K. JTMBT, INC. OVERVIEW Jamba,oInc...

  • Page 38
    ....oAsoaoresult,ofor 2012,oourokeyostrategicoprioritiesoforoouroBLENDoPlano2.0oinclude:...oturnaroundoandotransformotheobusiness. Fiscal 2011 Financial and Operational Summary .... Jamba'sopartneroinoSouthoKoreaoopenedo16ostores...

  • Page 39
    ... Fiscal 2011 Tccomplishments Store Sales Duringofiscalo2011,osalesoatosystem-wideoJambaoJuiceoStoresoopenedomoreothano13ofullofiscaloperiodsoincreasedo3.7%oreflectingoincreasesoofo4...,ofruitoandoveggieosmoothiesoandococonutowater refreshers.oWeoalsooexpandedoouroWhirl'...company...2010...

  • Page 40
    ... Jambaobrandoofferings. Consumer Packaged Goods AsoofoJanuaryo3,o2012,oweohadotenolicenseoagreementsoinoplaceoreflectingoeightocommercializedoproductolines.oTheseoproductsoincludeoJamba-branded make-at-homeofrozenosmoothieokits,ofrozenoyogurtonoveltyobars,oallonaturaloenergyodrinks...

  • Page 41
    ...,oleveraging technology,oimprovingolaboroplanning,...OuroaccountingopoliciesoareomoreofullyodescribedoinoNoteo1o" Business and Summary of Significant Accounting Policies "oinotheo...

  • Page 42
    ....oIfoourorevenueoforocertainoleasesoincreases,oitowouldoresultoinohigherocontingent rentoexpense. Jambacard Revenue Recognition Weoselloourojambacardsotooourocustomersoinoouroretailostoresoandothroughoourowebsiteoatowww.jambajuice.com.oOurojambacardsodoonotohaveoanoexpiration...

  • Page 43
    Table of Contents Self-Insurance Reserves Weoareoself-insuredoforohealthcareobenefits.oTheoestimatedoaccrualsoforotheseoliabilitiesoareobasedoonostatisticaloanalysesoofohistoricaloindustryodataoasowell asoactualohistoricalotrends... Taxes ...

  • Page 44
    Table of Contents (companiesoinoouroindustryothatoareoviewedoasoao"concept"oandoaoleaderoinotheopremium,ospecialtyogrowthosegment)oduringotheoperiodoimmediatelyoprecedingothe share-basedoawardograntothatoisoequaloinolengthotootheoaward'soexpectedoterm....

  • Page 45
    ...) Year ended January 3, 2012 Year ended December 28, % (1) 2010 % (1) Year ended December 29, 2009 % (1) Revenue: CompanyoStores Franchiseoandootherorevenue Totalorevenue Costsoandooperatingoexpenseso(income): Costoofosales Labor Occupancy Storeooperating Depreciationoandoamortization...

  • Page 46
    ...ino000s) Year Ended % of Total Revenue January 3, 2012 Year Ended December 28, 2010 % of Total Revenue Year Ended December 29, 2009 % of Total Revenue Revenue: CompanyoStores Franchiseoandootherorevenue Totalorevenue $ 214,837oo o 11,597oo $ 226,434oo ... Company Store revenue ...

  • Page 47
    ... refranchising,o105oCompanyoStoresoinoconnectionowithoourorefranchisingoinitiativeoandotheodecreaseoinosame-storeosalesoasoillustratedobyotheofollowingotable: Company Store Decrease in Revenue (in 000s) 2010 vs. 2009 ReductionoinonumberoofoCompanyoStores,onet CompanyoStoreocomparableosalesodecrease...

  • Page 48
    Table of Contents Vendororebatesooffsetotheocostsoofomanagingoouroprocurementoprogram. Fiscal Year 2010 to Fiscal Year 2009 Costoofosalesoinofiscalo2010owaso$61.3omillion,oaodecreaseoofo$11.4omillion,ooro15... Labor Fiscal Year 2011 to Fiscal Year 2010 ...

  • Page 49
    ....oAsoaopercentageoofototal revenue,odepreciationoandoamortizationoisoessentiallyoflatoato5... investmentsoinotechnologyoinfrastructureo(approximatelyo0.3%). Fiscal Year 2010 to Fiscal Year 2009 Depreciationoandoamortizationoinofiscalo2010owaso$14.6omillion,oaodecreaseoofo$3.7omillion...

  • Page 50
    ...).oDuringofiscalo2011,oweorecordedoaochargeoofo$1.0omillionorelatingotoosettlementoofooutstandingolitigationoandorelatedocostsocomparedotoo$2.1omillion duringofiscalo2010. Fiscal Year 2010 to Fiscal Year 2009 TotaloG&Aoexpensesoinofiscalo2010owereo$37.3omillion,oanoincreaseoofo$0.3omillion,ooro0...

  • Page 51
    ...Business and Summary of Significant Accounting Policies -Impairment of Long-Lived Assets "oincludedoinoNoteo1oinotheoNotesotooConsolidatedoFinancialoStatements. Fiscal Year 2011 to Fiscal Year 2010... Year 2010 to Fiscal Year 2009 Storeoleaseoterminationoandoclosureocostsowereo$4....

  • Page 52
    ... Year 2010 to Fiscal Year 2009 Inofiscalo2010,...terminations. Duringofiscalo2011oando2010,oweopaidocashodividendsoonotheoSeriesoBoPreferredoStockototalingo$1.6omillionoando$2.3omillion,orespectively.oThisoamount isorecordedoinostockholders'oequity. Fiscal Year 2010 to Fiscal Year 2009...

  • Page 53
    ...Fiscal Year 2010 to Fiscal Year 2009 Incomeotaxoexpenseoinofiscalo2010owaso$(0.2)omillionocomparedotooanoincomeotaxobenefitoofo$1.1omillionoforotheoprioroyear.oTheodecreaseoinoincomeotax expenseowasoprimarilyodueotooforeignotaxesoincurredoinofiscalo2010. LIQUIDITY TND CTPITTL RESOURCES Known Events...

  • Page 54
    .... TheofollowingotableosetsoforthocertainodataorelatingotooCompanyoStoresoandoFranchiseoStoresoforotheoperiodsoindicated: 53 week period ended 52 week period ended January 3, 2012 Domestic International December 28, 2010 Domestic International Company Stores: Beginningoofoperiod...

  • Page 55
    .... Cash Flows Summary Theofollowingotableosummarizesoourocashoflowsoforoeachoofotheopastothreeofullofiscaloyearso(inothousands): January 3, 2012 December 28, 2010 December 29, 2009 Netocasho(usedoin)oprovidedobyooperatingoactivities Netocasho(usedoin)oprovidedobyoinvestingoactivities Netocasho...

  • Page 56
    ...2010,oprimarilyoreflectingoaodecreaseoinoproceedsoreceivedofromotheorefranchisingoinitiativeo(approximatelyo$10.0omillion)oandoaonetoincreaseoinospendingoon company...-traditionaloFranchiseoStores. Financing Tctivities Netocashousedoinofinancingoactivitiesodecreasedobyo...

  • Page 57
    ...oTheooutstandingobalanceounderotheocreditofacilityobearsointerestoatoaoLIBORoMarketoIndexoRateobasedouponotheorateoforooneomonthoU.S.odollar deposits,opluso3.... Payments Due by Period (in 000s) Less...,oifoany,ocannotobeopredicted. Off-Balance Sheet Trrangements Weohaveonoooff-balanceosheetoarrangements...

  • Page 58
    ... of Contents New Tccounting Standards SeeotheoRecentoAccountingoPronouncementsosectionoinoNoteo1oofoouroNotesotooConsolidatedoFinancialoStatementsoforoaosummaryoofonewoaccounting...business.... ITEM 7T. Interest Rates QUTNTITTTIVE TND QUTLITTTIVE DISCLOSURES ...Prices... force ...

  • Page 59
    Table of Contents ITEM 8. FINTNCITL STTTEMENTS TND SUPPLEMENTTRY DTTT INDEX TO CONSOLIDTTED FINTNCITL STTTEMENTS Page No. ReportoofoIndependentoRegisteredoPublicoAccountingoFirm ConsolidatedoFinancialoStatements: ConsolidatedoBalanceoSheetsoatoJanuaryo3,o2012oandoDecembero28,o2010 ...

  • Page 60
    Table of Contents REPORT OF INDEPENDENT REGISTERED PUBLIC TCCOUNTING FIRM TheoBoardoofoDirectorsoandoStockholders Jamba,oInc.: WeohaveoauditedotheoaccompanyingoconsolidatedobalanceosheetsoofoJamba...o2012,obasedoonocriteriaoestablishedoin Internal Control-Integrated Framework ...

  • Page 61
    .... CONSOLIDTTED BTLTNCE SHEETS (Dollars in thousands, except share and per share amounts) January 3, 2012 December 28, 2010 TSSETS Currentoassets: Cashoandocashoequivalents Restrictedocash...Accountsopayable Accruedocompensationoandobenefits Workers'ocompensationoandohealthoinsuranceoreserves ...

  • Page 62
    ... Year Ended Fiscal Year Ended (Dollars in thousands, except share and per share amounts) January 3, 2012 December 28, 2010 December 29, 2009 Revenue: Companyostores Franchiseoandootherorevenue Totalorevenue Costsoandooperatingoexpenseso(income): Costoofosales Labor Occupancy Storeooperating...

  • Page 63
    Table of Contents JTMBT, INC. CONSOLIDTTED STTTEMENTS OF STOCKHOLDERS' EQUITY Common Stock (Dollars in thousands, except share amounts) Shares Tmount Tdditional Paid-In Capital Tccumulated Deficit Stockholders' Equity BalanceoasoofoDecembero30,o2008 Share-basedocompensationoexpense ...

  • Page 64
    ...Dollars in thousands) January 3, 2012 $ o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o $ $ o $ o o o o o December 28, 2010 $ o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o $ $ o $ o o o o o December 29, 2009... Workers'...

  • Page 65
    ... YETRS ENDED JTNUTRY 3, 2012, DECEMBER 28, 2010 TND DECEMBER 29, 2009 1. BUSINESS TND SUMMTRY OF SIGNIFICTNT TCCOUNTING POLICIES Business-Jamba,oInc.oconsummatedoitsoinitialopublicoofferingoinoJulyo2005.oOnoMarcho10,o2006,...oJambaoJuice Company....

  • Page 66
    ...qualityofinancialoinstitutions.oBalancesoinotheoCompany'socashoaccountsofrequentlyoexceedothe FederaloDepositoInsuranceoCorporationoinsuranceolimit. Self-Insurance Reserves -TheoCompanyoisoself-insuredoforohealthcareobenefits,oandoliabilitiesoareobasedoonostatisticaloanalysesoofohistoricaloindustry...

  • Page 67
    Table of Contents amongootherothings,ocertainoassumptionsoaboutoexpectedofutureooperatingoperformance.oFactorsoconsideredoduringotheoimpairmentoevaluationoincludeofactors relatedotooactualooperatingocashoflows,otheoperiodoofotimeosinceoaostoreohasobeenoopenedoororemodeled,...

  • Page 68
    ...oConstructionoallowancesoareorecordedoinodeferredorentoandootherolong-termoliabilities. Revenue Recognition -.... RoyaltiesofromolicensedoCPGoproductsoareobasedoonoaopercentageoofoproductosalesoandoareorecognizedoasorevenueouponotheosaleoofotheoproductotooretail outlets. 68

  • Page 69
    ....oComprehensiveoincomeo(loss)oequalsonetoincomeo(loss)oforoalloperiodsopresented. Income Taxes-Deferredotaxoassetsoandoliabilitiesoareorecognizedoforotheofutureotaxoconsequencesoattributableotoodifferencesobetweenotheofinancial...

  • Page 70
    ...,onotesoandoaccountsoreceivableoandoaccountsopayable approximatesofairovalue. Segment Reporting -TheoCompanyohasooneoreportableoretailosegment. Recent Accounting Cronouncements Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAC and IFRSs (ASU Wo. 2011-04...

  • Page 71
    ...oTheoCompanyowilloadoptoASUoNo.o2011-04oinofiscalo2012 andodoesonotoanticipateoanyomaterialoimpactoonotheoCompany'soconsolidatedofinancialostatements. Cresentation of Comprehensive Income (ASU Wo. 2011-05) (Included in ASC 220 "Comprehensive....oSubjectotoothe Company'soapprovaloandotheofranchisee'...

  • Page 72
    ... Tmortization Net Tmount Tmortized Intangible Tssets Ts of January 3, 2012 Trademarks Favorableoleases Franchiseoagreements Reacquiredofranchiseorights Total Ts of December 28, 2010 Trademarks Favorableoleases Franchiseoagreements Reacquiredofranchiseorights Total $ 410oo o 2,051oo o 828oo...

  • Page 73
    ... followso(inothousands): Tmortization Fiscal Year Expense 2012 2013 2014 2015 2016 Thereafter o o o...,ootherolong-termoassetsoconsistedoofotheofollowingo(inothousands): January 3, 2012 December 28, 2010 Notesoreceivableofromofranchisees Deposits InvestmentoinoJJCoHawaii,oLLC Other Total $ -...

  • Page 74
    ...018oo o 154oo o (2,834)o o 235oo $ 573oo Gain/loss on Disposal of Other Assets -TheoCompanyorecognizedoaolossoonodisposaloofofixedoassetsoofo$2.1omillionoando$0.3omillionoinofiscalo2011 ando2010,orespectively,...): January 3, 2012 December 28, 2010 Deferredorevenue,olongoterm Constructionoallowance...

  • Page 75
    ...$0.3omillionoinofiscalo2011, 2010oando2009,orespectively. TheoaggregateofutureominimumononcancelableoleaseopaymentsoasoofoJanuaryo3,o2012,owereoasofollowso(inothousands): Fiscal Year Ending: 2012 2013 2014 2015 2016 Thereafter Totalominimumoleaseocommitments $ 24,805oo o 23,515oo o 20...

  • Page 76
    ...,oinofulloandoinocash,odividendsoonosharesoofotheoPreferredoStockoforothreeoconsecutiveoquarters,otheosizeoofotheoboardoof directorsoofotheoCompanyo("Board")oshallobeoincreasedobyooneomemberoandotheoholdersoofotheoPreferredoStock,ovotingotogetheroasoaosingleoclass,oshallobeoentitled...

  • Page 77
    ...,otheoholdersoofotheosharesoofoSeriesoB-1oPreferred,ovotingoasoaoseparateoclass,owillobeoentitledotooelectoonlyooneomemberoofothe Board.oTheoabilityotoohaveoanyomembersotootheoBoardobyotheoholdersoofotheosharesoofotheoSeriesoB-1oPreferredowilloceaseoonceotheonumberoofooutstandingoshares ofoSeriesoB...

  • Page 78
    ...Options -TheoCompanyomaintainsothreeoshare-basedocompensationoplanso(collectively,otheo"Plans").oTheoCompany'soAmendedoandoRestated 2006oEmployee,oDirectoroandoConsultantoStockoPlan,oasoamendedo(... Plan"),obothoofowhichoprovidedoforotheograntingoofononqualifiedoandoincentiveostockooptionsotooemployees...

  • Page 79
    ...average assumptions: Fiscal Year Ended January 3, 2012 Fiscal Year Ended December 28, 2010 Fiscal Year Ended December 29, 2009... Remaining Contractual Life WeightedTverage Exercise Price WeightedTverage Exercise Price Range of Exercise Prices Number Outstanding Number Exercisable $0.36o...

  • Page 80
    ...Plan.oRSUsoareochargedoagainstotheo2006oPlanoshareoreserveoonotheobasisoofooneoshareoforoeachounitogranted.oTheofairovalueoofoRSUsoisodeterminedobasedoonothe Company...)obenefitoareoasofollowso(inothousands): January 3, 2012 December 28, 2010 December 29, 2009 Current: Federal State Foreign $ o o $...

  • Page 81
    Table of Contents TheodifferenceobetweenotheoeffectiveoincomeotaxorateoandotheoUnitedoStatesofederaloincomeotaxorateoisosummarizedoasofollows: January 3, 2012 December 28, 2010 December 29, 2009 Statutoryofederalorate Stateoincomeotaxesolessofederalobenefit Foreignoincomeotaxes ...

  • Page 82
    ...oAlthoughotheseodeductionsowillooccuroinotheopost-change period,...Ended January 3, 2012 Fiscal Year Ended December 28, 2010 Beginningobalance Increasesoattributableotootaxopositionsotakenoduringoprioroperiods Increasesoattributableotootaxopositionsotakenoduringocurrentoperiods ...

  • Page 83
    ... VTLUE METSUREMENT Financial Assets and ...oooo $1,825oo $-oooo $-oooo Includedoinorestrictedocashoonotheoconsolidatedobalanceosheet. Won-financial Assets and Liabilities TheoCompany'sonon-financialoassetsoandoliabilitiesoprimarilyoconsistoofolong-livedoassets,otrademarksoandootherointangibles...

  • Page 84
    ....oFairovalueowasodeterminedobasedoonotheopurchaseopriceoinotheoassetopurchaseoagreement. 14. EMPLOYEE BENEFIT PLTN TheoCompanyomaintainsoaovoluntaryodefinedocontributionoplanocoveringoalloeligibleoemployees.oEligibleoemployeesomayoelectotoodeferoandocontributeoa...

  • Page 85
    ...,owillonotohaveoaomaterialoadverseoeffectoonotheoresultsoofooperations,oliquidityoorofinancialoconditionoofothe Company. Other-TheoCompanyohasopurchaseoobligationsowithocertainosuppliersoforocertainofruitsoandodairyoforovariousotermsotypicallyorangingofromooneoyearoto...

  • Page 86
    ... Weeks Ended Thirteen Weeks Ended Tpril 19, (Dollars in thousands, except share and per share amounts) July 12, 2011 2011 October 4, 2011 January 3, 2012 Revenue: Companyostores Franchiseoandootherorevenue Totalorevenue Costsoandooperatingoexpenseso(income): Costoofosales Labor Occupancy...

  • Page 87
    ... Weeks Ended Twelve Weeks Ended (Dollars in thousands, except share and per share amounts) Tpril 20, 2010 July 13, 2010 October 5, 2010 December 28, 2010 Revenue: Companyostores Franchiseoandootherorevenue Totalorevenue Costsoandooperatingoexpenseso(income): Costoofosales Labor Occupancy...

  • Page 88
    ...,oincludingolimitationsoonotheoCompanyowithorespectotooliens,oindebtedness,oguaranties,oinvestments, distributions,omergersoandoacquisitionsoandodispositionsoofoassets.oTheocreditofacilityoisoevidencedobyoaorevolvingonoteomadeobyoJambaoJuiceoinofavoroof Lender...

  • Page 89
    ...oandothatosuchoinformationoisoaccumulatedoandocommunicatedotoomanagement,oincludingoouroChiefoExecutiveoOfficero("CEO")oand ...Management's Report on Internal Control Over Financial Reporting ...reporting.oThisoreportoappearsobelow. Changes in Internal Control Over Financial Reporting...

  • Page 90
    ...,odepartmentoandoindividual duties. Ifoeachoofotheotargetometricsoisoachievedoinotheofirstoperformanceoperiodoforofiscaloyearo2012,oparticipantsowillobeoeligibleoforoaotargetoaward,obasedoonothe participant'soposition,oasofollows: Target Tward as a % of Base Salary During Performance Period...

  • Page 91
    ... REPORT OF INDEPENDENT REGISTERED PUBLIC TCCOUNTING FIRM TheoBoardoofoDirectorsoandoStockholders Jamba,oInc.: WeohaveoauditedoJamba,oInc.oandosubsidiarieso(theoCompany)ointernalocontrolooverofinancialoreportingoasoofoJanuaryo3,o2012,obasedoonocriteria establishedoin Internal Control-Integrated...

  • Page 92
    ...ITEM 10. DIRECTORS, EXECUTIVE OFFICERS TND CORPORTTE GOVERNTNCE InformationoregardingotheoDirectorsoofotheoCompanyoisoincorporatedohereinobyoreferenceofromotheoCompany'...12. SECURITY OWNERSHIP OF CERTTIN BENEFICITL OWNERS TND MTNTGEMENT TND RELTTED STOCKHOLDER MTTTERS...

  • Page 93
    ... 15. EXHIBITS, FINTNCITL STTTEMENT SCHEDULES Documentsofiledoasopartoofothisoreport: (1)oListoofoFinancialoStatements TheofollowingoconsolidatedofinancialostatementsoareoincludedohereinoinoPartoII,oItemo8oofothisoAnnualoReportoonoFormo10-K: ReportoofoIndependentoRegisteredoPublicoAccountingoFirm...

  • Page 94
    .... Name Title Date /s/ooooJAMESoD.oW HITEoooooooo James D. White ChiefoExecutiveoOfficer,oPresidentoandoChairmanoofotheoBoardoofoDirectors (PrincipaloExecutiveoOfficer) Marcho9,o2012 /s/ooooKARENoL.oL UEYoooooooo Karen L. Luey ChiefoFinancialoOfficer...

  • Page 95
    ... Contents EXHIBIT INDEX Exhibit Filed Number Description Form File No. Exhibit Filing Date Herewith... 001-32552 4.3 Juneo17,o2009 Jamba,oInc.oandoContinentaloStockoTransfero&oTrustoCompanyoas RightsoAgent oo4.4 ..., Emeryville,oCAo94608...

  • Page 96
    Table of Contents Exhibit Filed Number Description Form File No. Exhibit Filing Date Herewith 10.5 10.6 ...Jamba,oInc.oAmendedoandoRestatedo2006oEmployee, DirectoroandoConsultantoStockoPlan** FormoofoIncentiveoStockoOptionoPlanounderotheo2006 Plan... oo Luey,oThibaultodeoChatellus,...Designation...

  • Page 97
    Table of Contents Exhibit Filed Number Description Form File No. Exhibit Filing Date Herewith 10.17 10.18 Jamba,oInc.oManagementoIncentiveoPlan o 8-Koo o 001-32552oo o 10.1oo o Decembero21,o2010 oo CreditoAgreementodatedoasoofoFebruaryo14,o2012obyoand amongotheoCompany,...

  • Page 98
    Exhibit 10.18 Execution Version CREDIT AGREEMENT among JAMBA JUICE COMPANY, as the Borrower, JAMBA, INC., as the Parent and WELLS FARGO BANG, NATIONAL ASSOCIATION, as the Bank $6,000,000 Revolving Line of Credit February 14, 2012

  • Page 99
    ... 4.10 4.11 4.12 Corporate Organization and Power Corporate Authority: No Conflict With Other Instruments or Law Due Execution and Delivery Enforceability Governmental Approval Margin Stock Investment Company Taxes Litigation Financial Statements No Material Adverse Change Compliance with Laws 22...

  • Page 100
    ...13 5.14 5.15 Financial and Business Information Notice of Certain Events Existence; Franchises; Maintenance of Properties Compliance with Law Payment of Obligations Maintenance of Books and Records; Inspection Maintenance of Insurance Environmental Laws Compliance with ERISA Name Change Creation of...

  • Page 101
    ... 7.17 Certain Amendments Limitation on Certain Restrictions No Other Negative Pledges Subsidiaries Lines of Business Fiscal Year Accounting Changes Parent Covenants Dedicated Deposit Account 37 38 38 38 38 38 38 38 39 ARTICLE VIII EVENTS OF DEFAULT; REMEDIES 8.1 8.2 Events of Default Remedies...

  • Page 102
    ...Form of Compliance Certificate Form of Notice of Borrowing Letter of Credit Notice Schedule 1.1(a) Schedule 4.13 Schedule 4.14 Schedule 4.15 Schedule 4.16 Schedule 4.20 Schedule 7.2 Schedule 7.3 Schedule 7.5 Existing Letters of Credit Environmental Compliance Realty Intellectual Property Insurance...

  • Page 103
    ... meanings: "Adjusted LIBOR Rate " shall mean, for any day, a rate equal to the sum of (i) the LIBOR Market Index Rate for such day, and (ii) the Applicable Margin. "Affiliate" means, as to any Person, (i) any other Person which directly, or indirectly through one or more intermediaries, controls...

  • Page 104
    .... "Business Day " means any day of the year on which banks are open for business in Charlotte, North Carolina and, in respect of any determination relevant to the determination or payment of interest determined based on LIBOR, any such day that is also a day on which dealings in Dollar deposits are...

  • Page 105
    .... Any reference to any provision of the Code shall also include the income tax regulations promulgated thereunder, whether final, temporary or proposed. "Commercial Credit Card Exposure " shall mean the aggregate amount of the credit limits of all commercial credit cards issued by the Bank for the...

  • Page 106
    ...same Controlled Group as, the Parent or any of its Subsidiaries, within the meaning of Sections 414(b), (c), (m) or (o) of the Internal Revenue Code or Section 4001 of ERISA. "ERISA Event " means any of the following with respect to a Plan or Multiemployer Plan, as applicable: (i) a Reportable Event...

  • Page 107
    ..., (viii) a violation of the applicable requirements of Section 404 or 405 of ERISA or the exclusive benefit rule under Section 401(a) of the Internal Revenue Code by any fiduciary of any Plan for which the Parent or any of its ERISA Affiliates may be directly or indirectly liable or (ix) the...

  • Page 108
    ... to purchase, redeem, retire or otherwise acquire arises prior to the first anniversary of the Revolving Credit Termination Date; (x) off-balance sheet liability retained in connection with asset securitization programs, synthetic leases, sale and leaseback transactions or other similar obligations...

  • Page 109
    "Lending Office" means, as to the Bank, any of its offices located in Charlotte, North Carolina, or such other office as the Bank or the office of any other Lender that may hereafter be designated as a Lending Office by notice to the Borrower. "Letter of Credit Notice " has the meaning given to such...

  • Page 110
    ...an individual, a corporation, a partnership, a limited liability company, an association, a trust or any other entity or organization, including a government or political subdivision or an agency or instrumentality thereof. "Plan" means, at any time, an employee pension benefit plan which is covered...

  • Page 111
    ... under any Letter of Credit, in each case, at such time, (iii) the Commercial Credit Card Exposure at such time, and (iv) the Cash Management Products Exposure at such time. "Revolving Credit Termination Date" means the date of the earliest to occur of the following: (i) January 31, 2013; (ii) such...

  • Page 112
    ...such time, (ii) the Stated Amount of each outstanding Letter of Credit and, without duplication of clause (i), all obligations to reimburse the Bank for drawing under any Letter of Credit, in each case, at such time, (iii) the Commercial Credit Card Exposure at such time and (iv) the Cash Management...

  • Page 113
    ... indicates, have the meanings provided for by the Uniform Commercial Code of the State of New York to the extent the same are used or defined therein. ARTICLE II AMOUNTS AND TERMS OF THE LOANS 2.1 Commitments . (a) The Bank agrees, on the terms and conditions set forth herein, to make loans (each...

  • Page 114
    ... known to the Bank as of the Closing Date and that the Bank in good faith deems material to it. (b) Notices. Whenever the Borrower desires the issuance of a Letter of Credit, the Borrower will give the Bank written notice not later than 12:00 noon, Charlotte, North Carolina time, three Business Days...

  • Page 115
    ... by the Borrower, at the rate of interest applicable to Revolving Loans. (d) Existing Letters of Credit . The Borrower and the Bank agree that, on and as of the Closing Date, each Existing Letter of Credit will be deemed continued under this Agreement as a Letter of Credit issued pursuant to this...

  • Page 116
    ... shall pay, interest from the Closing Date on the unpaid principal balance thereof at the Adjusted LIBOR Rate. (b) Accrued (and theretofore unpaid) interest on the outstanding principal balance of each Loan shall be due and payable (i) in arrears on the last Business Day of each calendar month...

  • Page 117
    ...annum rate equal to 2.0% on the daily average aggregate Stated Amount of such Letters of Credit, payable in arrears (i) on the last Business Day of each calendar quarter, beginning with the first such day to occur after the Closing Date, and (ii) on the later of the Revolving Credit Termination Date...

  • Page 118
    ... the event that the Borrower is required by applicable law to make any such withholding or deduction of taxes with respect to the Loans or fee or other amount, the Borrower shall pay such deduction or withholding to the applicable taxing authority, shall promptly furnish to the Bank all receipts and...

  • Page 119
    ...respect to any other applicable payments under any Credit Document, IRS Form W-8BEN establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the "business profits" or "other income" article of such tax treaty; (ii) executed originals of IRS Form W-8ECI; (iii) in the...

  • Page 120
    ... the indemnification payments or additional amounts giving rise to such refund had never been paid. This paragraph shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying...

  • Page 121
    ..., (iii) both immediately before and after giving effect to the making of the initial Loans and the application of the proceeds thereof, no Material Adverse Effect has occurred since December 31, 2010, and there exists no event, condition or state of facts that could reasonably be expected to result...

  • Page 122
    ... shall have received certified reports from an independent search service satisfactory to it listing any judgment or tax lien filing or Uniform Commercial Code financing statement that names the Parent or the Borrower as debtor in any of the jurisdictions listed beneath its name on Schedule I to the...

  • Page 123
    ... and the other Credit Documents. (m) No Material Adverse Change . Since December 31, 2010, both immediately before and after giving effect to the consummation of this Agreement, there shall not have occurred (i) a Material Adverse Effect or (ii) any event, condition or state of facts that could...

  • Page 124
    ... and Power . Each Credit Party (a) is a corporation or a limited liability company duly organized or formed, validly existing and in good standing under the laws of the jurisdiction of its incorporation or formation, as the case may be; (b) is duly qualified or licensed to do business and is in good...

  • Page 125
    ... the Closing Date and (ii) the filing of Uniform Commercial Code financing statements and other instruments and actions necessary to perfect the Liens created by the Security Documents. 4.6 Margin Stock. No Credit Party is engaged principally or as one of its important activities in the business of...

  • Page 126
    ... 4.12 Compliance with Laws . Each Credit Party has timely filed all material reports, documents and other materials required to be filed by it under all applicable Requirements of Law with any Governmental Authority, has retained all material records and documents required to be retained by it under...

  • Page 127
    ... Party has timely filed all reports required to be filed, has acquired all necessary certificates, approvals and permits, and has generated and maintained all required data, documentation and records required under all Environmental Laws. 4.14 Ownership of Properties . Each Credit Party (i) has good...

  • Page 128
    ... or a member of the Controlled Group to any material civil penalty under ERISA or material tax under the Code. 4.18 Labor Relations . No Credit Party is engaged in any unfair labor practice within the meaning of the National Labor Relations Act of 1947, as amended. As of the Closing Date, there...

  • Page 129
    ... the Bank, and the termination of the Revolving Credit Commitment, each of the Parent and the Borrower covenants and agrees that it will, and will cause its Subsidiaries to: 5.1 Financial and Business Information . Deliver to the Bank: (a) Within forty-five (45) days after the close of each of the...

  • Page 130
    ...,000 in the aggregate for all such claims; (b) If and when any member of the Controlled Group (i) gives or is required to give notice to the PBGC of any Reportable Event with respect to any Plan which might constitute grounds for a termination of such Plan under Title IV of ERISA, or knows that the...

  • Page 131
    ... . Maintain adequate books, accounts and records, and prepare all financial statements required under this Agreement in accordance with GAAP and in compliance with the regulations of any Governmental Authority having jurisdiction over it. Each Credit Party shall permit any employee or representative...

  • Page 132
    ... appropriate to the policy, may make proof of loss if not made promptly by the Parent or appropriate Subsidiary, and each insurance company concerned shall hereby be authorized and directed to make payment for such loss directly to the Bank instead of to the Parent (or applicable Subsidiary) and the...

  • Page 133
    ...or a member of the Controlled Group to any material civil penalty under ERISA or material tax under the Code. 5.10 Name Change . Notify the Bank at least thirty (30) days prior to the effective date of any change of its name, and prior to such effective date the Parent (or the applicable Subsidiary...

  • Page 134
    ... thereto is a true and complete copy of resolutions adopted by the board of directors (or similar governing body) of such Subsidiary, authorizing the execution, delivery and performance of the Credit Documents to which it is a party, and (iv) as to the incumbency and genuineness of the signature...

  • Page 135
    ... or in the ordinary course of business to manage existing or anticipated interest rate or foreign currency risks and not for speculative purposes; (iii) purchase money Indebtedness of the Borrower and its Subsidiaries incurred solely to finance the acquisition, construction or improvement of any...

  • Page 136
    ... Event of Default under Section 8.1(n) ) incurred in the ordinary course of business in connection with worker's compensation, unemployment insurance, old age benefits, social security obligations or other forms of governmental insurance or benefits, or to secure the performance of letters of credit...

  • Page 137
    ... codes, land use laws, variations and similar restrictions, charges and encumbrances on title that do not secure monetary obligations and do not materially impair the use of such property for its intended purposes or the value thereof; (viii) Liens securing the purchase money Indebtedness permitted...

  • Page 138
    ... material to the business of the Credit Parties. 7.5 Restricted Investments . Purchase, own, invest in or otherwise acquire, directly or indirectly, any stock, evidence of indebtedness, or other obligation or security or any interest whatsoever in any other Person, or make or permit to exist any...

  • Page 139
    ... Persons. Except as otherwise permitted by Sections 7.2 , 7.5 and 7.6, directly or indirectly make any loan or advance to, or purchase, assume or guarantee any indebtedness to or from, any of its officers, directors, stockholders or Affiliates, or to or from any member of the immediate family of...

  • Page 140
    ...its business objectives. 7.14 Fiscal Year. Change its fiscal year or its method of determining fiscal quarters. 7.15 Accounting Changes . Other than as permitted pursuant to Section 1.2 , make or permit any material change in its accounting policies or reporting practices, except as may be required...

  • Page 141
    ...) only) such failure shall continue for a period of three Business Days; (b) The Borrower shall fail to observe or perform any covenant, restriction or agreement contained in Sections 5.1 , 5.2 and 5.3 or Articles VI or VII of this Agreement; (c) The Borrower or any other Credit Party shall fail to...

  • Page 142
    ... of money in excess of $250,000 in the aggregate against the Borrower or any Credit Party and such judgment(s) or order(s) shall continue unsatisfied, unvacated, unbonded and unstayed for a period of thirty (30) days; (l) The issuance of a writ of execution, attachment or similar process against...

  • Page 143
    ... the failure to give such notice shall not affect the validity of such set-off and application. Without limitation of the foregoing, the Parent and the Borrower acknowledge and agree that, on the Revolving Credit Termination Date, the Bank may, in its sole discretion, set off and apply deposits in...

  • Page 144
    ..., delivery, filing and recording of this Agreement and the other Credit Documents and agrees to save the Bank harmless from and against any and all liabilities with respect to or resulting from any delay in paying or omission to pay such taxes and fees. It is the intention of the parties hereto...

  • Page 145
    ... or certified mail, postage prepaid, to the address or telecopy number set forth below: Party Parent Address Jamba, Inc. 6475 Christie Avenue, Suite 150 Emeryville, CA 94608 Attention: Vicki Pederson Telephone: (510) 596-0329 Email: [email protected] Jamba Juice Company 6475 Christie...

  • Page 146
    ... NONEXCLUSIVE JURISDICTION OF ANY STATE OR FEDERAL COURT SITTING WITHIN THE STATE OF NORTH CAROLINA OR THE STATE OF NEW YORK FOR ANY ACTION TO WHICH ANY CREDIT PARTY AND THE BANK ARE PARTIES. TO THE EXTENT PERMITTED BY LAW, THE BORROWER WAIVES TRIAL BY JURY AND WAIVES ANY OBJECTION WHICH IT MAY HAVE...

  • Page 147
    ... the sole benefit of the Bank. 9.8 Assignment and Sale . The Borrower may not sell, assign or transfer this Agreement or any of the other Credit Documents or any portion hereof or thereof, including without limitation the Borrower's rights, title, interests, remedies, powers, and duties hereunder or...

  • Page 148
    ...of which shall be an original and all of which, ...limit or affect any of the terms hereof. 9.15 Register. The Borrower, shall maintain at one of its offices in the United States, a copy of each and any assignment of the Loan delivered to it and a register for the recordation of the names and addresses...

  • Page 149
    ... first above written. JAMBA, INC. By: /s/ Garen Luey Garen Luey Chief Financial Officer JAMBA JUICE COMPANY By: /s/ Garen Luey Garen Luey Chief Financial Officer WELLS FARGO BANK, NATIONAL ASSOCIATION By: /s/ Cavan J. Harris Cavan J. Harris Senior Vice President Signature Page to Credit Agreement

  • Page 150
    EXHIBIT 21.1 LIST TF SUBSIDIARY Name of Company Jurisdiction of Incorporation Jamba Juice Company California

  • Page 151
    ... fiscal years ended January 3, 2012, December 28, 2010 and December 29, 2009, and the effectiveness of internal control over financial reporting as of January 3, 2012, which reports appear in the January 3, 2012 annual report on Form 10-K of Jamba, Inc. /s/ KPMG LLP San Francisco, California March...

  • Page 152
    ....1 CERTIFICATIONS I, James D. White, certisy that: 1. I have reviewed this annual report on Form 10-K os Jamba, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement os a material sact or omit to state a material sact necessary to make the statements made, in light os the...

  • Page 153
    ... to record, process, summarize and report financial information; (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. /s/ Karen L. Luey Karen L. Luey Chief Financial Officer...

  • Page 154
    ... in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. /s/ James D. White James D. White Chairman of the Board, Chief Executive Officer and President Date: March 9, 2012 A signed original of this written statement required by...

  • Page 155
    ... with the Annual Report of Jamba, Inc. (the "Company") on Form 10-K for the year ended January 3, 2012, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Karen L. Luey, Executive Vice President, Chief Financial Officer, Chief Administrative Officer and...

  • Page 156