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HBI » Topics » Annual Compensation

This excerpt taken from the HBI DEF 14A filed Mar 12, 2009.
Annual Compensation
 
In 2008, we compensated each non-employee director for service on our Board of Directors as follows:
 
  •  an annual cash retainer of $70,000, paid in quarterly installments;
 
  •  an additional annual cash retainer of $15,000 for the chair of the Audit Committee (currently, Mr. Nelson), $10,000 for the chair of the Compensation Committee (currently, Mr. Schindler) and $10,000 for the chair of the Governance and Nominating Committee (currently, Mr. Johnson);
 
  •  an additional annual cash retainer of $5,000 for each member of the Audit Committee other than the chair (currently, Mr. Griffin, Ms. Mathews and Ms. Peterson);
 
  •  an annual grant of $110,000 in restricted stock units; and
 
  •  reimbursement of customary expenses for attending Board, committee and stockholder meetings.
 
The Chairman of the Board of Directors during 2008 (Mr. Chaden) received an additional cash retainer of $320,000 in 2008. Directors who are also our employees receive no additional compensation for serving as a director.
 
During 2008, after consultation with its compensation consultant, Frederic W. Cook & Co., the Compensation Committee determined to make decisions regarding 2009 compensation for non-employee


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directors at its meeting in December 2008, so that such decisions could be made prior to the January 1, 2009 effective date for any changes in compensation rather than retroactively, and to approve equity grants simultaneously with those decisions. Regarding 2008 compensation, the Compensation Committee made decisions and approved equity grants at its meeting in January 2008. Therefore, two restricted stock unit grants were made to non-employee directors during calendar year 2008. Both of these grants are reflected in the table below.
 
The following table summarizes the compensation paid to our non-employee directors for the fiscal year ended January 3, 2009.
 
This excerpt taken from the HBI DEF 14A filed Mar 10, 2008.
Annual Compensation
 
In 2007, we compensated each non-employee director for service on our board of directors as follows:
 
  •  an annual cash retainer of $70,000, paid in quarterly installments;
 
  •  an additional annual cash retainer of $10,000 for the chair of the Audit Committee (currently, Ms. Peterson), $5,000 for the chair of the Compensation Committee (currently, Mr. Coker) and $5,000 for the chair of the Governance and Nominating Committee (currently, Mr. Johnson); these amounts will be increased to $15,000, $10,000 and $10,000, respectively, beginning in 2008;
 
  •  an additional annual cash retainer of $5,000 for each member of the Audit Committee other than the chair (currently, Mr. Griffin, Ms. Mathews and Mr. Mulcahy);
 
  •  an annual grant of $95,000 in restricted stock units; this amount will be increased to $110,000 beginning in 2008; and
 
  •  reimbursement of customary expenses for attending board, committee and stockholder meetings.
 
The Chairman of the Board of Directors (Mr. Chaden) will receive an additional cash retainer of $320,000 in 2008.
 
Directors who are also our employees receive no additional compensation for serving as a director.


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The following table summarizes the compensation paid to the non-employee directors for the fiscal year ended December 29, 2007.
 

EXCERPTS ON THIS PAGE:

DEF 14A
Mar 12, 2009
DEF 14A
Mar 10, 2008

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