Incentive Compensation Plan for Certain Key Executives
The Company provides an incentive compensation plan for certain key executives, which is based upon the Company’s pretax income. The payment of these amounts is generally deferred over a five-year period. The total amount payable related to this arrangement was $488 and $557 at November 2, 2007 and November 3, 2006, respectively. Future payments are approximately $203, $112, $82, $62 and $30 for fiscal years 2008 through 2012, respectively.
Postretirement Health Care Benefits for Selected Executive Employees
The Company provides postretirement health care benefits for selected executive employees. Net periodic postretirement benefit cost is determined using assumptions as of the beginning of each fiscal year.
Net periodic postretirement benefit cost consisted of the following:
Weighted average assumptions for the fiscal year ended November 2, 2007 are as follows:
The table below shows the estimated effect of a 1% increase in health care cost trend rate on the following:
The table below shows the estimated effect of a 1% decrease in health care cost trend rate on the following: