annual rate of 2%. As noted above, Mr. Thompson disposed of his interests in the Stillwater, OK and
Warwick, RI restaurants before his appointment to Chief Operating Officer on August 23, 2018.
Largest
Aggregate Amount of
Amount of Principal Aggregate Aggregate
Principal Outstanding as of Principal Repaid Interest Repaid
Outstanding December 25, in the 2018 Fiscal in the 2018 Fiscal
during the 2018 2018 Year Year
Restaurant Fiscal Year ($) ($) ($) ($)
Stillwater, OK................. 576,313 461,051 115,263 10,470
Warwick, RI.................. 579,686 426,829 152,857 10,193
Gilbert-East, AZ(i)............. 657,862 — 657,862 8,534
(i) On August 22, 2018, the outstanding principal balance of $617,106 was repaid to the Company and
the entity did not have any outstanding indebtedness to the Company upon Mr. Thompson’s
promotion to Chief Operating Officer.Other Related Transactions
We entered into real estate lease agreements for franchise restaurants located in Everett, MA, of
which Mr. Taylor beneficially owns 28.75%, and Fargo, ND, of which Mr. Colosi owns 5.05%, before
our granting franchise rights for those restaurants. We have subsequently assigned the leases to the
franchisees, but we remain contingently liable if a franchisee defaults under the terms of a lease. The
Everett lease expires in February 2023, and the Fargo lease expires in July 2021.
We previously entered into real estate lease agreements for the Company restaurants located in
Warwick, RI and Gilbert-East, AZ. We subsequently assigned the leases to the joint venture operating
entities, but we remain contingently liable if the entity defaults under the terms of the lease. The
Warwick lease expires in January 2023 and the Gilbert-East lease expires in July 2023.
In 2018, Mr. Taylor made a personal contribution of $1,000,000 to cover a portion of the planned
expenses incurred as a part of the annual market partner conference.