Jack in the Box Growth. Sales at company-operated Jack in the Box restaurants open more than one year (same-store sales) increased 6.1% in fiscal 2007, primarily due to the progress we have made in reinventing the Jack in the Box brand. We believe continued success in executing that strategy will continue to drive customer traffic and grow sales. In fiscal 2007, we opened 42 new company-operated restaurants, including five with our proprietary Quick Stuff convenience-store and fuel-station business, and our franchisees opened 16 new restaurants. Restaurant growth in fiscal 2007 included expansion into a new contiguous market, Corpus Christi, Texas. In 2008, we plan to open 35-45 new company and franchise-operated restaurants and expand into new contiguous markets, in Colorado, New Mexico and Texas, through both company investment and franchise development
EX-10.6.4 2 a35805exv10w6w4.htm EXHIBIT 10.6.4 exv10w6w4
Exhibit 10.6.4
AMENDMENTS TO
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
1. On September 14, 2007, the Board of Directors authorized the following amendment to Section 3.1 of the Supplemental Executive Retirement Plan (“SERP”):
“(c) Notwithstanding any other provision of the Plan to the contrary, participation in the Plan is frozen effective January 1, 2007, and no employees who are not Participants on January 1, 2007 will become Participants in the Plan after January 1, 2007.”
2. On November 8, 2007, the Board of Directors authorized the following amendment to Section 2.1 of the SERP. Section 2.1 of the SERP is amended and restated in its entirety to read a follows:
“2.1 Actuarial Equivalent
‘Actuarial Equivalent’ means equivalence in value between two (2) or more forms and/or types of payment based on a determination by an actuary chosen by the Company. Effective September 30th, 2007, the interest rate assumption shall be 6% per annum and the mortality assumption shall be the RP 2000 Projected 10 years using Projection Scale AA. These assumptions may be changed from time to time by the Plan’s actuary with the approval of the Board.”
