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HBI » Topics » 9.02 The Investment Funds

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

9.02 The Investment Funds

The following Investment Funds shall be maintained within the Trust Fund:

 

  (a) Interest Income Fund. An “Interest Income Fund,” the assets of which are primarily invested in fixed interest instruments (including guaranteed investment contracts between the Trustee and a legal reserve life insurance company, commercial bank, savings and loan association or other financial institution or corporation) intended to provide for safety of principal and a positive rate of return.

 

  (b) Bond Fund. A “Bond Fund,” the assets of which are primarily invested in a large sampling of bonds intended to provide a high level of interest income.

 

  (c) Balanced Fund. A “Balanced Fund,” the assets of which are primarily invested in a diversified portfolio of stocks and investment grade bonds, intended to provide current income and a potential for long-term growth of income and capital, and a greater rate of return than the Diversified Equity Fund, but entailing a risk of loss of principal.

 

  (d) Diversified Equity Fund. A “Diversified Equity Fund,” the assets of which are primarily invested in a diversified pool of a large number of stocks (or mutual fund shares) intended to provide a greater rate of return than the Interest Income Fund, but entailing a risk of loss of principal.

 

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  (e) Small Stock Fund. A “Small Stock Fund,” the assets of which are primarily invested aggressively in a portfolio of growth-oriented stocks (or mutual fund shares), intended to provide a greater rate of return than the Diversified Equity Fund, but entailing a greater risk of loss of principal.

 

  (f) Extended Market Fund. An “Extended Market Fund,” the assets of which are primarily invested in mid- and small-capitalization companies, intended to provide long-term growth of capital.

 

  (g) Growth Equity Fund. A “Growth Equity Fund,” the assets of which are primarily invested in stocks, intended to provide long-term growth of capital.

 

  (h) Value Equity Fund. A “Value Equity Fund,” the assets of which are primarily invested in stocks, intended to provide a high level of dividend income and moderate levels of long-term capital appreciation.

 

  (i) International Equity Fund. An “International Equity Fund,” the assets of which are primarily invested in securities representing interests in companies located outside of the United States, intended to provide long-term growth of capital, and a greater rate of return than the Balanced Fund, but entailing a risk of loss of principal.

 

  (j) Hanesbrands Inc. Common Stock Fund. A “Hanesbrands Inc. Common Stock Fund,” the assets of which are primarily invested in Hanesbrands Stock. The Hanesbrands Inc. Common Stock Fund shall be created effective as of the Spin-Off Date.
  (k) Sara Lee Corporation Common Stock Fund. A “Sara Lee Corporation Common Stock Fund,” the assets of which are primarily invested in Sara Lee Stock. No new contributions shall be permitted in the Sara Lee Corporation Common Stock Fund on or after the Effective Date. Effective as of the Spin-Off Date, each Participant’s interest in the Sara Lee

 

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Corporation Common Stock Fund shall be liquidated and reinvested in accordance with the Participant’s current investment elections for new contributions to the Plan unless the Participant affirmatively elects (in accordance with rules established by the Committee) to continue his or her investment in the Sara Lee Corporation Common Stock Fund. The Sara Lee Corporation Common Stock Fund is required to be removed from the Plan on the one year anniversary of the Spin-Off Date; any amounts held in the fund at that time shall be reinvested in accordance with the respective Participants’ then current investment elections for new contributions to the Plan (or for any Participant without such a valid election, in a default investment fund identified by the Committee).

 

  (l) Target Retirement Funds. The “Target Retirement Funds,” the assets of which are primarily invested in mutual funds based on an asset allocation strategy designed for investors planning to retire on or around a stated year, with such asset allocation strategy changing over time to reflect typical investment risk and return objectives for people with similar retirement goals.

The Interest Income Fund, Bond Fund, Balanced Fund, Diversified Equity Fund, Small Stock Fund, Extended Market Fund, Growth Equity Fund, Value Equity Fund, International Equity Fund, Sara Lee Corporation Common Stock Fund, Hanesbrands Inc. Common Stock Fund and Target Retirement Funds are sometimes referred to individually as an “Investment Fund” and collectively as the “Investment Funds.” A portion of each Investment Fund may be invested from time to time in the short-term investment fund (STIF) of a custodian bank.

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