Bridgford | Investor Service

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The benefit obligation and funded status of this plan as of the fiscal year ended November 2, 2007 is as follows:

	2007			2006
Change in accumulated postretirement benefit obligation:
Benefit Obligations - beginning of year	$	1,159		$	1,143
Service Cost	15			14
Interest Cost	70			66
Actuarial (Gain) Loss	(44		)	(48		)
Benefits Paid	(4		)	(16		)
Plan Amendments	0			0
Benefit Obligations - end of year	$	1,196		1,159
Funded Status of the plans	1,196			1,159
Unrecognized prior service costs	(298		)	(372		)
Unrecognized net actuarial loss	(144		)	(198		)
Unrecognized net transition asset	—			—
Accrued postretirement benefit cost	N/A			$	589
Transitional Adjustment to Other Comprehensive Income (SFAS 158)	442
Postretirement benefit liability	$	1,196

Expected payments for the postretirement benefits are as follows:

	Postretirement Benefits
Fiscal 2008	$	85
Fiscal 2009	$	88
Fiscal 2010	$	89
Fiscal 2011	$	90
Fiscal 2012	$	90
Fiscal 2013-2017	$	422

Stock Incentive Plan

The Company’s 1999 Stock Incentive Plan (“the Plan”) was approved by the Board of Directors on January 11, 1999 and 275,000 options were granted on April 29, 1999. During fiscal year 2000, 25,000 options were canceled. Under the Plan, the maximum aggregate number of shares which may be optioned and sold is 900,000 shares of common stock, subject to adjustment upon changes in capitalization or merger. Generally, options granted under the plan vest in annual installments over four years following the date of grant (as determined by the Board of Directors) subject to the optionee’s continuous service. Options expire ten years from the date of grant with the exception of an incentive stock option granted to an optionee who owns stock representing more than 10% of the voting power of all classes of stock of the Company, in which case the term of the option is five years. Options generally terminate three months after termination of employment or one year after termination due to permanent disability or death. Options are generally granted at a fair market value determined by the Board of Directors subject to the following:

a.) With respect to options granted to an employee or service provider who, at the time of grant owns stock representing more than 10% of the voting power of all classes of stock of the Company; the per share exercise price shall be no less than 110% of the fair market value on the date of grant.

b.) With respect to options granted to an employee or service provider other than described in the preceding paragraph, the exercise price shall be no less than 100% for incentive stock options and 85% for non-statutory stock options of the fair market value on the date of grant.

No options have been granted, exercised, canceled or forfeited for the last five fiscal years.

As of November 2, 2007, 250,000 options were outstanding at an exercise price of $10.00 per share.

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