Papa Johns 2002 Annual Report Download - page 64

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63
18. Stock Options (continued)
The number, weighted average exercise price and weighted average remaining contractual life of options
outstanding as of December 29, 2002, and the number and weighted average exercise price of options
exercisable as of December 29, 2002 follow (number of options in thousands):
Range of Number of Weighted Average Weighted Average
Exercise Prices Options Exercise Price Remaining Life
Outstanding options: $5.78 - $9.99 9 $6.14 0.62
10.00 - 19.99 307 16.16 2.72
20.00 - 29.99 1,487 25.38 5.46
30.00 - 45.56 1,579 34.38 4.95
Total 3,382 $28.70 4.96
Exercis able options : $5.78 - $9.99 9 $6.14
10.00 - 19.99 307 16.16
20.00 - 29.99 1,307 25.58
30.00 - 45.56 1,540 34.32
Total 3,163 $28.87
19. Employee Benefit Plans
We have established the Papa John’s International, Inc. 401(k) Plan (the “401(k) Plan”), as a defined
contribution benefit plan, in accordance with Section 401(k) of the Internal Revenue Code. The 401(k)
Plan is open to all employees who meet certain eligibility requirements and allows participating
employees to defer receipt of a portion of their compensation and contribute such amount to one or more
investment funds. We contribute a matching payment of up to 1.5% of a participating employee’s
earnings, which is subject to vesting based on an employee’s length of service with us. Costs of the
401(k) Plan recognized in 2002, 2001 and 2000 were $431,000, $688,000 and $402,000, respectively.
In addition, we maintain a nonqualified deferred compensation plan available to certain key employees.
Under this plan, the participants may defer a certain amount of their compensation, which is credited to
the participants’ investment-directed accounts. The participant directed investments associated with this
plan are included in other long-term assets and the associated liabilities are included in other long-term
liabilities in the accompanying consolidated balance sheets. The Company makes no matching or other
contribution to the participants’ deferred compensation accounts.
Administrative costs of the 401(k) Plan and the nonqualified deferred compensation plan are paid by us
and are not significant.