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EMPLOYEE BENEFIT PLANS

12 Months Ended

Dec. 26, 2018

Compensation Related Costs [Abstract]

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

Deferred Compensation

In fiscal 2014, we entered into an incentive bonus agreement with one of our executives, whereby the executive is entitled to receive a deferred compensation award in the amount of $2,450 payable by us in March 2018. This amount was included in other current liabilities on the Consolidated Balance Sheet as of December 27, 2017. In fiscal 2013, we recorded $2,054 of deferred compensation expense to recognize the present value of the incentive bonus liability, which was included within general and administrative expense on the Consolidated Statement of Income (Loss). There was no such expense in fiscal 2018, 2017 or 2016. The difference between the present value of the bonus liability and the amount payable was accreted to interest expense over the term of the agreement. For the purpose of funding our deferred compensation obligation, we established a grantor trust, commonly referred to as a "rabbi trust," and contributed $2,450 to the trust in October 2015. Assets held by the trust were subject to creditor claims. In March 2018, we paid the entire incentive bonus of $2,450 to our executive from the trust. No amounts were held in the trust or payable by us as of December 26, 2018.

Defined Contribution Plan

Our employees are eligible to participate in a defined contribution savings plan maintained by Union Square Hospitality Group, LLC, a related party. The plan is funded by employee and employer contributions. We pay our share of the employer contributions directly to the third party trustee. Employer contributions to the plan are at our discretion. Effective January 2014, we began making contributions matching a portion of participants' contributions. We match 100% of participants' contributions for the first 3% of eligible compensation contributed and 50% of contributions made in excess of 3% of eligible compensation up to 5% of eligible compensation. Employer contributions totaled $509, $389 and $257 for fiscal 2018, 2017 and 2016, respectively.

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- Definition

The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-URI http://asc.fasb.org/topic&trid=2228938

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 712
-URI http://asc.fasb.org/topic&trid=2197446

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 710
-URI http://asc.fasb.org/topic&trid=2127225

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

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- References

No definition available.

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