This excerpt taken from the HBI 8-K filed Sep 5, 2006.
4.1 Deferral Accounts. All amounts deferred pursuant to a Participants Deferral Elections under the Plan shall be allocated to the Participants Deferral Account and the Committee shall maintain a separate subaccount under a Participants Deferral Account for each Deferral. Deferrals shall be credited to the Deferral Account as of the Deferral Crediting Date coinciding with or next following the date on which, in the absence of a Deferral Election, the Participant would otherwise have received the Deferral.
4.2 Investment Alternatives. A Participant must make an investment election at the time of each Deferral Election. The investment election must be made pursuant to such rules as the Committee may prescribe, subject to Section 4.3, and shall designate the portion of the Deferral which is to be treated as invested in each investment alternative. Subject to the Committees right to change the investment alternatives in the future, the investment alternatives are as follows:
stock shall thereafter be transferred to the Interest Account. The foregoing transition rules only apply to Stock Equivalent Account amounts deemed invested in the Sara Lee Corporation common stock equivalents or prior to December 31, 2006; after that date, investments in the Stock Equivalent Account shall be determined as if the amounts were invested in Company common stock.
determined by dividing the Participants Deferral Account balance by the number of remaining installment payments. All payments from the Interest Account shall be made in cash.
4.3 Investment Elections and Changes. A Participants investment elections shall be subject to the following rules:
4.4 Vesting. A Participant shall be fully vested at all times in the balance of his Deferral Account.