Exhibit 10.32

 

SARA LEE CORPORATION

RETENTION & RECOGNITION PROGRAM

FOR INDIVIDUALS AT “C” LEVEL AND BELOW

 

Assumptions:

 

•   The critical dimensions are the length of time the person is needed and the
criticality of the individual

 

•   All awards are paid as a lump sum cash bonus

 

•   Participants may face the possibility of job loss at end of
assignment/project

 

•   Retention bonus is in addition to standard severance but is not covered
compensation for employee benefits purposes

 

Est. Retention Time

(months)

--------------------------------------------------------------------------------

   % of Salary Paid as Retention Bonus

--------------------------------------------------------------------------------

       Employee Criticality

--------------------------------------------------------------------------------

       3

--------------------------------------------------------------------------------

  2

--------------------------------------------------------------------------------

  1

--------------------------------------------------------------------------------

    12 +    30%   40%   50%     10 - 12    25%   35%   40%     7 - 9    15%  
25%   30%     3 - 6    10%   15%   20%    

 

DEFINITIONS OF EMPLOYEE CRITICALITY

 

#1

 

•   Individual is extremely critical to the project

 

•   Skills are extremely scarce both within Sara Lee and the external
marketplace

 

•   Skills are unique to Sara Lee and of a proprietary nature

 

•   Loss of the person seriously jeopardizes the successful completion of the
project

 

•   Staffing alternatives are extremely limited, even from external temporary
sources

 

#2

 

•   Individual is critical to the completion of the project

 

•   Skills are scarce both within Sara Lee and the marketplace but there are
back-up staffing sources

 

•   Loss of this person would delay the project completion and result in higher
costs as a result of alternative staffing and lost productivity

 

#3

 

•   Individual is important to the project’s completion but may be a member of a
team that could back-fill in event of loss

 

•   Skills are in short supply but alternatives would be available but at a
higher cost and lower productivity level

 

•   Loss of person would be disruptive to the process and would complicate but
not jeopardize the completion of the project