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HBI » Topics » 2.37 Supplemental Compensation

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

2.37 Supplemental Compensation

For purposes of the RSSERP Benefit, a Participant’s “Supplemental Compensation” means his or her compensation as defined in the Retirement Savings Plan but including the following additional amounts:

 

  (a) Any amounts that cannot be recognized as compensation in the Retirement Savings Plan due to the dollar limitation contained in Code Sections 401(a)(17) of the Code;

 

  (b) Deferred compensation for the Plan Year in which it is deferred; and

 

  (c) Any compensation required to be included as Supplemental Compensation pursuant to an employment, severance or other written agreement with an Employer; provided, however, that severance payments to Specified Employees that are delayed six months in compliance with Code Section 409A shall be attributable to the year in which such amounts were earned rather than the year in which they are paid.

 

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