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Employee Benefit Plans | 12 Months Ended
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Jun. 02, 2012
Employee Benefit Plans [Abstract] |
EMPLOYEE BENEFIT PLANS | 12. EMPLOYEE BENEFIT PLANS Employee Stock Purchase Plan: The Employee Stock Purchase Plan (“ESPP”) provides substantially all employees an opportunity to purchase our common stock at 85% of the stock price at the end of the fiscal year. At June 2, 2012, the ESPP had no shares reserved for future issuance. The ESPP was not offered to our employees for fiscal 2012 or 2011. Employee Profit Sharing Plan: The employee profit sharing plan is a defined contribution profit sharing plan for employees. Annual contributions in cash are made at the discretion of the Board of Directors. The profit sharing plan has a 401(k) provision whereby we match 50% of employee contributions up to 4.0% of pay. Charges to expense for matching contributions to this plan were $0.2 million during fiscal 2012. In fiscal 2011, the Company elected not to match employee contributions as a result of the weakening global economy. However; in fiscal 2011, the Board of Directors elected to make a discretionary contribution to the 401(k) plan in recognition of the successful completion of the Transaction in the amount of $0.4 million. Foreign employees are covered by a variety of government mandated programs.

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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 No definition available. + Details
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- Details
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