Unilever 2004 Annual Report Download - page 81

Remuneration report
Details – Executive Directors (continued)
78 Unilever Annual Report and Accounts 2004
Remuneration for individual Executive Directors
The following table gives details of the total remuneration (including long-term incentives) received by each Executive Director.
For convenience the amounts are shown both in euros and [in brackets] in pounds sterling.
Other income arising from Total of Total of
Annual Emoluments 2004(1) long-term incentives in 2004(2) annual annual
emoluments emoluments
Vesting of and other and other
Gains on TSR/LTIP income income
Total Total exercise Vesting of in 2004 arising from arising from
Allowances Value of annual annual of share matching (performance long-term long-term
Base and other benefits Annual emoluments emoluments options shares period incentives incentives
salary payments(3) in kind(4) bonus(5) 2004 2003 in 2004 in 2004 2001/2003) in 2004(6) in 2003
Name and Base Country ’000 ’000 ’000 ’000 ’000 ’000 ’000 ’000 ’000 ’000 ’000
A Burgmans(7) (NL) €1 365 €80 €150 €137 €1 732 €1 786 €0 €111* €730* €2 573 €1 828
[£926] [£54] [£102] [£93] [£1 175] [£1 233] [£0] [£75] [£495] [£1 745] [£1 262]
P J Cescau(8) (NL/UK) €1 109 €395 €164 €111 €1 779 €1 392 €1 603* €59* €456* €3 897 €1 392
[£752] [£268] [£112] [£75] [£1 207] [£962] [£1 087] [£40] [£309] [£2 643] [£962]
A C Butler (UK) €782 €3 €35 €40 €860 €923 €74* €94* €456* €1 484 €923
[£530] [£2] [£24] [£27] [£583] [£638] [£50] [£63] [£309] [£1 005] [£638]
K B Dadiseth (UK) €1 003 €30 €61 €50 €1 144 €1 195 €10* €49* €456* €1 659 €1 210
[£680] [£20] [£41] [£34] [£775] [£827] [£7] [£33] [£309] [£1 124] [£838]
C J van der Graaf(9) (NL) €483 €3 €17 €97 €600 €600
[£328] [£2] [£12] [£66] [£408] [£408]
A R van Heemstra (NL) €730 €8 €76 €37 €851 €920 €291* €47* €456* €1 645 €920
[£495] [£5] [£52] [£25] [£577] [£636] [£197] [£32] [£309] [£1 115] [£636]
R H P Markham (UK) €907 €13 €35 €136 €1 091 €1 053 €0 €97* €456* €1 644 €1 053
[£615] [£9] [£24] [£92] [£740] [£728] [£0] [£66] [£309] [£1 115] [£728]
N W A FitzGerald(10) (UK) €1 178 €2 024 €60 €158 €3 420 €2 009 €1 172 €191* €730 €5 513 €2 083
[£799] [£1 373] [£40] [£107] [£2 319] [£1 388] [£795] [£130] [£495] [£3 739] [£1 439]
C B Strauss(11) (US) €370 €0 €67 €261 €698 €1 492 €1 117* €134* €365* €2 314 €2 121
[£251] [£0] [£45] [£177] [£473] [£1 032] [£757] [£91] [£248] [£1 569] [£1 467]
(1) Annual emoluments includes base salary, allowances (and other payments – see footnote 3) and the value of benefits in kind earned in
respect of 2004. It also includes the annual bonus (both the cash element and the bonus paid in shares) payable in March 2005 relating to
the performance year 2004. The value of the matching shares conditionally awarded in 2005 in respect of the performance year 2004 is
not included as these form part of the long-term incentives and the value will be reported when they vest in 2008.
(2) Other income includes the gains realised in 2004 following the exercise of share options granted in earlier years. It also includes the value
of the matching shares vested in 2004, which were originally awarded in 1999 and 2001 together with the value of the TSR LTIP shares
vested in 2004 which were originally awarded in 2001. This latter award was based on the TSR performance of Unilever for the three-year
rolling period ended 31 December 2003. Unilever was ranked number 6 out of 21 for this period. The gains marked thus (*) were not
cashed-in by the Executive Director shown. Instead, the gains were either wholly retained in the form of shares in NV and PLC or the net
amounts (after payment of tax) were retained in the form of shares in NV and PLC. For further details please refer to the information on
share matching on page 79, on the TSR/LTIP scheme on page 80 and on share options on page 81.
(3) Allowances include the following payments:
(a) allowances in lieu of company car payable to Messrs Cescau, Dadiseth, Markham and FitzGerald
(b) entertaining allowance payable to all European based Executive Directors
(c) blind trust fees payable in respect of Mr Burgmans
(d) financial planning assistance payable to Mr Strauss
(e) allowances payable to Messrs FitzGerald and Dadiseth to compensate for the loss of net income suffered by them because part of their
remuneration was paid in the Netherlands
All allowances are taxable in the country of residence of the Executive Director concerned apart from the entertaining allowance which is
currently tax free.
Other payments include a compensation payment of €1 806 150 [£1 224 750] payable to Mr FitzGerald following the cessation of his
directorship (see footnote 10).
(4) Includes the value of the following benefits in kind:
(a) company-provided accommodation situated away from their home location to be used in lieu of hotels by Messrs Burgmans, Cescau,
FitzGerald, Butler, van Heemstra, Markham and Strauss
(b) company-provided accommodation for Mr Dadiseth while he is based in the UK; this is provided on a temporary basis for use while he is
working away from his home country (India)
(c) company cars provided to Messrs Burgmans, Cescau, Butler, Dadiseth, van der Graaf, van Heemstra, Markham and Strauss
(d) subsidised private medical insurance provided for all Executive Directors
(e) relocation assistance (see footnote 8)
All such benefits in kind are taxable in the country of residence of the Executive Director concerned (apart from the value of residential
accommodation provided for Netherlands based Executive Directors which is tax-free in the Netherlands).