Hillshire Brands Co 8-K 2005
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Sara Lee Corporation
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Item 1.01 Entry into a Material Definitive Agreement.
On June 30, 2005, the Board of Directors (the "Board") of Sara Lee Corporation ("Sara Lee") approved amendments to Sara Lee's 1999 Non-Employee Director Stock Plan (the "Plan"), which originally was adopted in June 2002 and was approved by Sara Lee's stockholders in October 2002. The amendments to the Plan were necessary to incorporate changes to the annual compensation program for outside directors that have been approved by the Corporate Governance and Nominating Committee of the Board and that will be effective for Sara Lee's fiscal year 2006. The amendments also include other changes that Sara Lee believes are necessitated by the recently enacted Section 409A of the Internal Revenue Code ("Section 409A"). The changes to the annual compensation program for outside directors and the material amendments to the Plan are described below.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.