SEC Contract Filing

Filing Date: 2024-06-06

Document Content:
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<TYPE>EX-10.2
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<DESCRIPTION>EX-10.2
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Transaction Incentive Agreement </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Vanessa, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As you are aware, Hanesbrands
Inc. (the &#147;<U>Company</U>&#148;) is contemplating a sale of the Champion-related businesses (the &#147;<U>Potential Transaction</U>&#148;). In connection with this process, your continued dedication to, and service with, the Company are viewed
by the Company as important to the effective execution of the Potential Transaction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Because of this, we are pleased to inform you that,
subject to your continued employment through the Closing Date (as defined below) and the other terms set forth in this Transaction Incentive Agreement (this &#147;<U>Agreement</U>&#148;), the Company will provide that you will receive a benefit with
an aggregate value (as reasonably determined by the Company) as of the Closing Date of at least USD $2,650,000 (less applicable withholdings) (collectively, the &#147;<U>Transaction Incentive</U>&#148;). Except as otherwise provided in
<U>Section</U><U></U><U>&nbsp;4</U> of this Agreement, the Transaction Incentive will be comprised of the following: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">accelerated vesting (if applicable) of (a)&nbsp;the remaining unvested Equity Awards (as defined below) granted
to you in 2022 and 2023 to the extent provided under the Potential Transaction-related vesting terms previously approved by the Talent and Compensation Committee of the Board of Directors of the Company (the &#147;<U>Committee</U>&#148;) and
(b)&nbsp;the remaining unvested Equity Awards granted to you in 2024 to the extent provided under the Potential Transaction-related vesting terms previously approved by the Committee and set forth in the award agreements for such Equity Awards
(collectively, the &#147;<U>Equity Award Acceleration</U>&#148;); and (if applicable), </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">to the extent the aggregate value of such Equity Award Acceleration (as reasonably determined by the Company) as
of the Closing Date is less than $2,650,000, a <FONT STYLE="white-space:nowrap">lump-sum</FONT> cash payment in an amount equal to the difference between such aggregate value and $2,650,000. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><U>Terms and Conditions for Receipt of Transaction Incentive</U>. Subject to the satisfaction of the other
conditions set forth in this Agreement, you will be eligible to receive the Transaction Incentive so long as: </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left">a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">you remain actively and continuously employed in good standing by the Company from November&nbsp;15, 2023
through the Closing Date (such period, the &#147;<U>Retention Period</U>&#148;); </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left">b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">you satisfactorily perform the tasks and responsibilities that are assigned to you t