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HBI » Topics » 10.08 Dividend Pass-Through Election

This excerpt taken from the HBI 8-K filed Sep 5, 2006.

10.08 Dividend Pass-Through Election

With respect to a Participant’s interest in the ESOP component of the Plan (as defined in Subsection 1.01 from time to time) , each Participant has the right to elect either (a) to have dividends paid on such shares reinvested in shares of Sara Lee Stock or Hanesbrands Stock (as applicable), or (b) to receive a distribution in cash of such dividends in accordance with procedures established by the Committee. To the extent such dividends are reinvested, they shall be one hundred percent (100%) vested. Such distributions shall be made as soon as administratively practicable following each March 31, June 30, September 30 and December 31 Plan Year quarter, and shall not constitute Eligible Rollover Distributions; provided, however, that on and after the Spin-Off Date, dividends attributable to Sara Lee Stock are required to be reinvested in the Sara Lee Common Stock Fund.

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