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This excerpt taken from the HBI 10-K filed Sep 28, 2006. Deferred
Compensation Plan for Outside Directors
Under the Hanesbrands Inc. Non-Employee Director Deferred
Compensation Plan, all non-employee directors are permitted to
defer the receipt of all or a portion (not less than
25 percent) of their annual retainer into a nonqualified,
unfunded deferred compensation plan. At the election of the
director, amounts deferred under the plan will earn a return
equivalent to the return on an investment in an interest-bearing
account earning interest based on the Federal Reserve’s
published rate for 5 year constant maturity Treasury notes
at the beginning of the calendar year, or be invested in a stock
equivalent account and earn a return based on our stock price.
Amounts deferred, plus any dividend equivalents or interest,
will be paid in cash or in shares of our common stock as
applicable. Any awards of restricted stock or RSUs to
non-employee directors that are automatically deferred pursuant
to the terms of the award are deferred under this plan. Any
payment of shares of our common stock under this plan will come
from the Hanesbrands Inc. Omnibus Incentive Plan of 2006.
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The following table sets forth information, as of
September 15, 2006 regarding beneficial ownership by
(1) each person who is known by us to beneficially own more
than 5% of our common stock, (2) each director and
executive officer and (3) all of our directors and
executive officers as a group. The address of each director and
executive officer shown in the table below is
c/o Hanesbrands Inc., 1000 East Hanes Mill Road,
Winston-Salem, North Carolina 27105.
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This excerpt taken from the HBI 8-K filed Sep 5, 2006. Deferred Compensation Plan for Outside Directors We expect to adopt a deferred compensation plan for our non-employee directors. Under the plan, all non-employee directors will be permitted to defer the receipt of all or a portion (not less than 25 percent) of their annual retainer into a nonqualified, unfunded deferred compensation plan. At the election of the director, amounts deferred under the plan will earn a return equivalent to the return on an investment in an interest-bearing account earning interest based on the Federal Reserve’s published rate for 5 year constant maturity Treasury notes at the beginning of the calendar year, or be invested in a stock equivalent account and earn a return based on our stock price. Amounts deferred, plus any dividend equivalents or interest, will be paid in cash or in shares of our common stock as applicable. Any awards of restricted stock or RSUs to non-employee directors that are automatically deferred pursuant to the terms of the award are deferred under this plan. Any payment of shares of our common stock under this plan will come from the Hanesbrands Inc. Omnibus Incentive Plan of 2006.
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