Unilever 2002 Annual Report Download - page 59

56 Remuneration report
Unilever Annual Report & Accounts and Form 20-F 2002
Remuneration of directors and executive officers
The total amount of remuneration (including share option gains but excluding pension provisions) received by all directors
and executive officers (being the directors and corporate officers listed on pages 46 and 48 respectively) for services in all
capacities during 2002 was €26 474 466 (£16 625 972).
The total amount set aside by the Unilever Group during 2002 to provide pension, retirement or similar benefits for directors
and executive officers was €4 585 032 (£2 879 401).
Directors’ emoluments
The aggregate remuneration of the directors was as follows:
2002 2001 2002 2001
’000 ’000 £’000 £’000
Salary 7 975 7 857 5 008 4 887
Allowances 515 662 323 412
Value of benefits in kind 800 959 503 597
Performance related payments 8 024 8 726 5 039 5 427
Total 17 314 18 204 10 873 11 323
Gains on exercise of share options (1) 3 037 2 180 1 907 1 356
The figures for 2001 include emoluments paid to Mr R D Brown and Mr A Kemner prior to their retirement in that year.
The emoluments of the individual directors for 2002 (excluding gains on exercise of share options) were as follows:
Value of Performance Equivalent totals(8)
benefits in related Total Total
Salary Allowances(10) kind(9) payments(7) 2002 2001 2002 2001
Paid in euros: ’000 ’000 ’000 ’000 ’000 ’000 £’000 £’000
A Burgmans (2) 1 210 29 141 1 301 2 681 2 262 1 684 1 407
P J Cescau (5) 975 12 170 1 048 2 205 2 565 1 385 1 595
A R van Heemstra 650 203(4) 46 650 1 549 1 257 972 782
Paid in pounds sterling: £’000 £’000 £’000 £’000 £’000 £’000 ’000 ’000
N W A FitzGerald (3) 940 99 47 1 011 2 097 1 925 3 340 3 095
A C Butler 510 4 21 510 1 045 990 1 664 1 592
K B Dadiseth 575 55(11) 56 632 1 318 1 126 2 098 1 811
R H P Markham 535 9 23 555 1 122 1 087 1 787 1 748
Equivalent totals (’000)(8)
Paid in US dollars: $’000 $’000 $’000 $’000 $’000 $’000 2002 2001
C B Strauss (6) 1 000 5 196 670 1 871 2 301 1 990 €2 570
£1 250 £1 599
(1) See pages 57 and 58.
(2) Chairman of NV.
(3) Chairman of PLC.
(4) Allowances include 197 thousand paid in respect of relocation costs taxed in the Netherlands.
(5) Excluded from the emoluments are incentive payments of 639 thousand paid in 2002 and 614 thousand paid in 2001 which relate
to an appointment prior to joining the Board.
(6) Excluded from the emoluments are payments totalling $2 448 thousand paid in 2002 and $1 009 thousand paid in 2001 which relate
to an appointment prior to joining the Board.
(7) Includes value of shares (both ‘bonus shares’ and ‘matching shares’) awarded under the bonus scheme relating to 2002.
(8) Based on average rates for the year of £1.00 = 1.592, £1.00 = $1.497, $1.00 = 1.064 (2001: £1.00 = 1.608,
£1.00 = $1.439, $1.00 = 1.117).
(9) Includes value of benefits in kind relating to company provided accommodation, company cars and private medical insurance. All
items are taxable in the country of residence of the directors concerned (apart from the value of accommodation provided for
Netherlands based directors).
(10) Includes cash allowances in lieu of company car, entertaining allowance, financial planning assistance and an allowance, where
applicable, for UK-based directors to compensate for the fact that part of their remuneration is paid in the Netherlands. All allowances
are taxable in either the UK, the Netherlands or the US, apart from the entertaining allowance which is tax free.
(11) Includes long service award of £49 thousand.
For the years up to and including 1997, NV loaned the amount of taxation charged on the grant of options under
Netherlands fiscal legislation to the recipients. Amounts were repaid on exercise. During 2002 all options in question were
exercised and all outstanding loans were repaid. In 2001 loans of 0.03 million were outstanding.