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This excerpt taken from the HBI 10-K filed Sep 28, 2006. Deferred
Compensation
We have two deferred compensation programs: the Hanesbrands Inc.
Executive Deferred Compensation Plan and the Hanesbrands Inc.
Non-Employee Director Deferred Compensation Plan. Under the
plans, executive officers and non-employee directors may defer
receipt of cash and equity compensation. The amount of
compensation that may be deferred is determined in accordance
with the plans based on elections by such participant. The
amounts payable under the plans earn or lose value based on the
investment performance of one or more of the various investment
funds offered under the plans and selected by the participants.
The amount payable to participants will be payable either on the
withdrawal date elected by the participant or upon the
occurrence of certain events as provided under the plans. A
participant may designate one or more beneficiaries to receive
any portion of the obligations payable in the event of death,
however neither participants nor their beneficiaries may
transfer any right or interest in the plans.
Table of Contents
This excerpt taken from the HBI 8-K filed Sep 5, 2006. Deferred Compensation We currently intend to assume existing deferred compensation liabilities relating to certain employees of Sara Lee and its subsidiaries who will become our employees in connection with the spin off and certain of our retirees and former employees. As of May 1, 2006, these liabilities were $24.4 million. We also have implemented a new deferred compensation program, the Hanesbrands Inc. Executive Deferred Compensation Plan, pursuant to which certain of our employees may elect to defer eligible compensation. | EXCERPTS ON THIS PAGE:
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