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Leases

12 Months Ended

Jun. 29, 2014

NOTE F - LEASES:

Premises occupied by Company-owned restaurants are leased for initial terms of five to ten years, and each has multiple renewal terms. Certain lease agreements contain either a provision requiring additional rent if sales exceed specified amounts or an escalation clause based upon a predetermined multiple.

In fiscal 2007, the Company sold its corporate office building and distribution facility located at 3551 Plano Parkway, The Colony, Texas, and entered into a ten-year lease agreement for the corporate office building.

Future minimum rental payments under non-cancelable leases, net of subleases, with initial or remaining terms of one year or more at June 29, 2014 were as follows (in thousands):

	Operating
	Leases

2015	$	1,669
2016		1,609
2017		1,228
2018		849
2019		799
Thereafter		2,144
	$	8,298

Rental expense consisted of the following (in thousands):

	Year Ended
	June 29,			June 30,
	2014			2013

Minimum rentals	$	1,448		$	1,322
Sublease rentals		(182	)		(182	)
	$	1,266		$	1,140

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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