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Krispy Kreme Doughnut Corporation Retirement Savings Plan


Plan Information

  • Plan Year01/01/2009 — 12/31/2009
  • Date of Plan02/01/1982
  • Net Assets as of 12/31/2009 $26,986,884
  • Plan Number1
  • Plan Type Single Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program? No
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2009

  • Active (Eligible) Participants2,231
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits258
  • Subtotal2,489
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits2
  • Total2,491
  • Total number of participants as of 01/01/20093,225
  • Number of participants with account balances1,377
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0


  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address370 Knollwood Street, Suite 400
  • CityWinston Salem
  • StateNC
  • Zip27103
  • Telephone(336) 733-3771
  • EIN56-1318322
  • Industry Code445291
  • Named AdministratorMary R. Mcelwee
  • Named Plan SponsorKenneth J. Hudson

Plan Administrator Information

  • Administrator NameKrispy Kreme Doughnut Corporation
  • Address370 Knollwood Street, Suite 400
  • CityWinston Salem
  • StateNC
  • Zip27103
  • Telephone(336) 733-3771
  • Administrator EIN56-1318322

Audit Information

  • Audit StatusAudited
  • AuditorWitt Mares
  • Auditor EIN54-1184709
  • Audit OpinionUnqualified
  • Audit Type Full Audit

Benefits Provided Under the Plan

Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
2F ERISA section 404(c) Plan This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J Code section 401(k) feature A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
2K Code section 401(m) arrangement Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
2O ESOP other than a leveraged ESOP An Employee Stock Ownership Plan (ESOP) is a type of employee benefit plan designed to invest primarily in employer stock.
3D Master plan A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $5,000,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No


Income and Expense Statement

Income $6,031,215
Contributions $2,600,506
Cash Contributions $2,600,506
Cash from Employers $694,467
Cash from Participants $1,795,229
Others (including rollovers) $110,810
Noncash Contributions $0
Total Earnings on Investments $3,430,709
Total Interest $103,130
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $102,277
Interest from Other Investments $853
Total Dividends $196,996
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $0
Aggregate Proceeds $0
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $379,959
Real Estate $0
Other $379,959
Net investment gain (loss) from common/collective trusts $656,820
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $2,093,804
Other Income $0
Expenses $3,579,903
Total Benefit Payments $3,337,963
Directly to participants or beneficiaries, including direct rollovers $3,337,963
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $179,574
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $62,366
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $62,366
Net Income $2,451,312
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2009 12/31/2008 Change YOY
Total Assets $27,166,458 $24,634,910 10.28%
Total noninterest-bearing cash $0 $844 0.0%
Receivables $46,058 $43,730 5.32%
Employer Contributions $13,119 $12,135 8.11%
Participant Contributions $32,939 $31,595 4.25%
Other Contributions $0 $0 0.0%
General Investments $1,631 $3,226 -49.44%
Interest-bearing cash $1,631 $3,226 -49.44%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $0 $0 0.0%
Preferred $0 $0 0.0%
Common $0 $0 0.0%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $1,720,965 $1,885,356 -8.72%
Value of interest in common/collective trusts $12,033,722 $12,285,062 -2.05%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $12,532,992 $9,894,677 26.66%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $0 $0 0.0%
Employer-related Investments $831,090 $522,015 59.21%
Employer Securities $831,090 $522,015 59.21%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $179,574 $99,338 80.77%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $179,574 $99,338 80.77%
Net Assets $26,986,884 $24,535,572 9.99%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Bb & T

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Bb & T Custodial (securities), Trustee (bank, trust company, or similar financial institution), Participant loan processing, Participant communication, Recordkeeping fees Trustee $62,188 $0 $62,188
Total $62,188 $0 $62,188

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Bb & T American Funds Growth Fd of Amer Distribution (12b-1) fees 35 Bps * Average Daily Balance $0
Bb & T Bb & T Inter Us Govt Bond Fund Distribution (12b-1) fees 48 Bps * Average Daily Balance $0
Bb & T Federated Capital Preservation Fund Sub-transfer agency fees, Distribution (12b-1) fees 12B1: 25Bps * Average Daily Balance Subta: 15Bps * Average Daily Balance $0
Bb & T Invesco Aim International Growth Fd Sub-transfer agency fees, Distribution (12b-1) fees 12B1: 25Bps * Average Daily Balance Subta: 25Bps * Average Daily Balance $0
Bb & T Mfs Value Fund Class A Sub-transfer agency fees, Distribution (12b-1) fees 12B1: 25Bps * Average Daily Balance Subta: 20 Bps * Average Daily Balance $0
Bb & T Oakmark Equity & Income Fund Sub-transfer agency fees 40 Bps * Average Daily Balance $0
Bb & T Oppenheimer Main Street Sm Cap Fd Distribution (12b-1) fees 35 Bps * Average Daily Balance $0
Bb & T T Rowe Price Mid Cap Value Fund Sub-transfer agency fees 15 Bps * Average Daily Balance $0
*As outlined by the Form 5500 Instructions for service providers with indirect compensation.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.



Name of Investment Investment Manager Type of Investment Dollar Value
Federated Capital Preservation Fund Federated Investors, Inc DFE: Common/Collective Trust $11,714,782
Total $11,714,782

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.