J. Alexander's Corporation
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 26, 2007 (February 20, 2008)
J. ALEXANDERS CORPORATION
(Exact name of registrant as specified in its charter)
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Tennessee
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1-08766
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62-0854056 |
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(State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(I.R.S. Employer |
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Identification No.) |
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3401 West End Avenue, Suite 260, P.O. Box 24300, Nashville, Tennessee
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37202 |
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(Address of principal executive offices)
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(Zip Code) |
(615) 269-1900
(Registrants telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c)) |
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.
On February 20, 2008, the Board of Directors, acting on behalf of J. Alexanders Corporation
(the Company), approved the J. Alexanders Corporation Deferred Compensation Plan (the Plan)
to be effective on or about June 23, 2008 under which certain executive officers and senior managers may (i)
defer receipt of their compensation, including up to 25% of their salaries and up to 25% of their
bonuses, and (ii) be credited with company contributions under
the same matching formula as the Companys 401(k) retirement
plan subject to an overall limitation on total matching in this Plan
and in the 401(k) plan determined by the matching formula in the
401(k) plan as applied to a participants contributions into
both plans. The Company will match 25% of participants
total elective contributions (taking into account the participants elective contributions to both
the Companys 401(k) and Deferred Compensation plans up to 3% of a participants compensation for
the Plan year). This arrangement allows a participant to make up any portion of
the employer matching contribution that cannot be made under the Companys 401(k) plan
due to Internal Revenue Code qualified plan limits for highly
compensated employees.
Participant elections with respect to deferrals of compensation generally
must be made in the year preceding that in which the compensation is
earned. Amounts that are deferred into this Plan and any Company
matching contributions will be increased by earnings and decreased by
losses based on the performance of one or more investment funds, as
designated by the Plan administrator elected by the participants. These investment funds are for
measurement purposes only, and a participants election of any such investment fund is hypothetical
and is not an actual investment of his or her Plan account in any such investment funds. The Plan
is an unfunded plan for state and federal tax purposes, and participants have the rights of
unsecured creditors of the Company with regard to their Plan accounts. Participants generally may
receive distributions of their accounts upon the Participants separation from service, disability,
death or an unforeseeable emergency, as those terms are defined in the Plan. Subject to the terms
of the Plan, Participants may elect to receive distributions of their accounts either in a lump sum
or in up to three annual installments with regard to distributions which are made upon a separation
of service.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
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Date: February 26, 2008 |
J. ALEXANDERS CORPORATION
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By: |
/s/ R. Gregory Lewis
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R. Gregory Lewis |
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Chief Financial Officer, Vice President of Finance and
Secretary |
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EXHIBIT INDEX
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Exhibit No. |
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a. Description |
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99.1
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Earnings Press Release issued by J. Alexanders Corporation dated February 26, 2008 |
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