Unilever 2004 Annual Report Download - page 89

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Remuneration report
Details – Non-Executive Directors
86 Unilever Annual Report and Accounts 2004
Non-Executive Directors
The Non-Executive Directors joined the Boards of NV and PLC at the AGMs in May 2004 following approval by the shareholders. Previously
they were Advisory Directors and were not formally members of the Boards.
Non-Executive Directors are expected to serve for a minimum of three years. If invited they are also expected to serve for a second period of
three years. Normally they would not serve for more than three terms of three years each. However, continuation of a Non-Executive Director’s
engagement is conditional upon satisfactory performance and subject to their re-nomination and re-election as a Director of both NV and PLC
each year.
The Non-Executive Directors receive fees and (where appropriate) an Attendance Allowance from both NV and PLC. The information shown in
this section of the report covers the total remuneration received from both companies. The current members receive no other remuneration in
respect of their Non-Executive duties from either NV or PLC such as annual bonus, share-based incentives or pension provisions.
The level of their fees reflects their commitment and contribution to the companies. A review was undertaken in early 2004 in order to
establish the fees payable by comparable companies in the UK and continental Europe. This review concluded that the level of fees payable by
NV and PLC to Non-Executive Directors should be increased in order to take into account current market practice and their increased
responsibilities as Directors. As a result of this change the new level of annual fees, applicable from May 2004, is as follows:
(a) Fees payable to the Senior Independent Director:
€48 000 payable by NV, plus
£36 000 payable by PLC
(b) Fees payable to the Chairman of a Committee:
€38 000 payable by NV, plus
£29 000 payable by PLC
(c) Fees payable to other Non-Executive Directors:
€32 000 payable by NV, plus
£24 000 payable by PLC
In addition, with effect from May 2004, an Attendance Allowance of £5 000 per meeting is payable to each Non-Executive Director who has
to travel to meetings from outside Europe.