SEC Contract Filing

Filing Date: 2023-11-16

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d617003dex101.htm
<DESCRIPTION>EX-10.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B></B><B><I>Execution Version</I></B><B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>COOPERATION AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Cooperation Agreement (this &#147;<B><I>Agreement</I></B>&#148;), dated as of November&nbsp;16, 2023 (the &#147;<B><I>Effective
Date</I></B>&#148;), is entered into by and among Barington Companies Equity Partners, L.P., a Delaware limited partnership, Barington Capital Group, L.P., a Delaware limited partnership, Barington Companies Management, LLC, a Delaware limited
liability company, and James A. Mitarotonda (each, a &#147;<B><I>Barington Party</I></B>,&#148; and together, the &#147;<B><I>Barington Parties</I></B>&#148;), and Hanesbrands Inc., a Maryland corporation (the &#147;<B><I>Company</I></B>&#148;).
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company and the Barington Parties desire to enter into an agreement regarding the composition of the Board of Directors of
the Company (the &#147;<B><I>Board</I></B>&#148;) and certain other matters, in each case, on the terms and subject to the conditions set forth herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of and reliance upon the mutual covenants and agreements contained herein, and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the Barington Parties and the Company agree as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.
<U>Board of Directors</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) <U>New Director</U>. As soon as reasonably practicable following the execution of this Agreement, the
Board and all applicable committees thereof shall take (or shall have taken) such actions to appoint John Mehas (the &#147;<B><I>New Director</I></B>&#148;) as a member of the Board with an initial term expiring at the Company&#146;s 2024 Annual
Meeting of Stockholders (the &#147;<B><I>2024 Annual Meeting</I></B>&#148;). The Company&#146;s slate of nominees for the election of directors at the 2024 Annual Meeting shall include the New Director as a nominee. The Company will recommend that
the Company&#146;s stockholders vote in favor of the election of the New Director at the 2024 Annual Meeting and will support the New Director for election in a manner consistent with its support for the other nominees of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) <U>New Director Agreements, Arrangements and Understandings</U>. Each of the Barington Parties represents, warrants, and agrees that
neither it nor any of its Affiliates (i)&nbsp;has paid or will pay any compensation to the New Director in connection with the New Director&#146;s service on the Board or (ii)&nbsp;has or will have any agreement, arrangement or understanding,
written or oral, with the New Director regarding the New Director&#146;s service on the Board. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) <U>Company Policies</U>. The parties
acknowledge that the New Director will be governed by the same protections and obligations regarding confidentiality, conflicts of interest, related person transactions, fiduciary duties, codes of conduct, trading and disclosure policies, director
resignation policy, and other governance guidelines and policies of the Company as other directors of the Company (collectively, &#147;<B><I>Company Policies</I></B>&#148;), and shall have the same rights and benefits, including with respect to
insurance, indemnification, compensation and fees, as are applicable to all <FONT STYLE="white-space:nowrap">non-management</FONT> directors of the Company. In accordance with the Board&#146;s customary governance processes, the Board will give the
New Director the same due consideration for Board committee membership as any other <FONT STYLE="white-space:nowrap">non-management</FONT> director with similar expertise and qualifications. The New Director shall not disclose to any Barington Party
or any of their Affiliates or any other person or entity not affiliated with the Company any confidential information of the Company, and each Barington Party shall not, and shall cause </P>
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their respective Affiliates not to, seek to obtain confidential information of the Company from the New Director. Each of the Barington Parties agrees that the New Director may not share any
information with the Barington Parties in respect of the Company which he learns in his capacity as a director of the Company, including discussions or matters considered in meetings of the Board or any Board committee, at any time, for any reason,
without the Company&#146;s prior consent. </P> <P STYLE="margin-top