Executive Savings Plan

4 Months Ended

Sep. 23, 2014

NOTE G – EXECUTIVE SAVINGS PLAN

The Company sponsors a non-qualified saving plan – Frisch’s Executive Savings Plan (FESP) for “highly compensated employees” (HCEs). Fair value measurements are used for recording the assets in the Frisch's Executive Savings Plan (FESP). Assets of the plan are grouped into a three-level hierarchy for valuation techniques used to measure the fair values of the assets. These levels are:

Level 1 – Quoted prices in active markets for identical assets

Level 2 – Observable inputs other than Level 1 prices, such as quoted prices for similar assets, quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means.

Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets.

The fair values of all FESP assets are determined based on quoted market prices and are classified within Level 1 of the fair value hierarchy:





	September 23, 2014		June 3, 2014

	(in thousands)

	Level 1		Level 1

Money market funds	$	474	$	449
Mutual funds		1,539		1,542
Foreign equity mutual funds		312		311
Taxable bond mutual funds		846		740
Large blend target date mutual funds		549		523
Total (1)	$	3,720	$	3,565

(1)

Of these totals, $3,204 and $3,064 respectively, was included in “Other Long term assets” as of September 23, 2014 and June 3, 2014, and $516 and $501 respectively, was included in current assets under the caption “Prepaid expenses, sundry deposits and other” as of September 23, 2014 and June 3, 2014.