Company: BRID
Filing Date: 2025-02-27
Form Type: DEF 14A
Source: 0001493152-25-008406
Chunk: 40

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-02-27
Form: DEF 14A
Chunk 40
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 date the participant would have attained the early retirement date had the participant remained employed by the Company. Upon a finding 
 that the participant (or, after the participant’s death, a beneficiary) has suffered an unforeseeable emergency, the Committee          
 may at the request of the participant or beneficiary, and subject to compliance with Internal Revenue Code Section 409A, accelerate     
 distribution of benefits under the SERP in the amount reasonably necessary to alleviate such unforeseeable emergency.                   |
| (2) | Assumes                                                                                                                                 
 death on November 1, 2024. The discount rate used to calculate the lump sum amount is 5.16%.                                            |

Non-Qualified Deferred Compensation for Employee Directors

Effective January 1, 1991, the Company adopted a deferred compensation savings plan for certain key employees. Under this arrangement, selected employees contributed a portion of their annual compensation to the plan. The Company contributed an amount to each participant’s account by computing an investment return equal to Moody’s Average Seasoned Bond Rate plus 2%. The purpose of the plan was to provide tax planning and supplemental funds upon retirement or death for certain selected employees and to aid in retaining and attracting employees of exceptional ability. Separate accounts are maintained for each participant to properly reflect his or her total vested account balance. No contributions or salary deferrals have been made in the past ten years.

The table below provides information concerning deferred compensation plan benefits for each employee director during the fiscal year ended November 1, 2024.

| Name                 |     | Executive Contributions 
 in Fiscal Year          |   |     | Company Contributions 
 in Fiscal Year        |   |     | Aggregate Earnings in Fiscal Year |   |     | Aggregate Withdrawals/ Distributions |   |     | Aggregate Balance at Fiscal Year End |   |
|:---------------------|:----|:------------------------|:--|:----|:----------------------|:--|:----|:----------------------------------|:--|:----|:-------------------------------------|:--|:----|:-------------------------------------|:--|
| William L. Bridgford |     | $                       | — |     | $                     | — |     | $                                 | — |     | $                                    | — |     | $                                    | — |
| John V. Simmons      |     | $                       | — |     | $                     | — |     | $                                 | — |     | $                                    | — |     | $                                    | — |

The following table estimates the present value of non