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Report of the Directors
Unilever Annual Report and Accounts 2005 59Unilever Annual Report and Accounts 2005 59
Report of the Remuneration Committee
(continued)
The following section contains detailed information on the Executive Directors’ annual remuneration, long-term incentives, pension
benefits and share interests in respect of 2005.
Aggregate remuneration for Executive Directors
The following table gives details of the aggregate remuneration (including long-term incentives) received by Executive Directors as a
group.
€ ’000 € ’000
2005 2004
Annual emoluments(1)
Base salary 5 219 7 927
Allowances and other payments:
Allowances 255 750
Other payments(2) 2 586 1 806
Value of benefits in kind 264 665
Performance-related payments (annual incentive)(3) 2 752 1 027
Sub-total of annual emoluments 11 076 12 175
Other income arising from long-term incentives(4)
Gains on exercise of share options 10 4 267
Vesting of matching shares 1 149 782
Vesting of TSR Long-Term Incentive Plans –4 105
Total of annual emoluments and other income arising from long-term incentives 12 235 21 329
(1) Annual emoluments include: base salary; allowances; other payments (see footnote 2); and the value of benefits in kind earned in respect
of 2005. It also includes the annual incentive (both the cash element and the element paid in shares) payable in March 2006 relating to the
performance year 2005.
(2) Other payments include payments to Antony Burgmans, Clive Butler, Keki Dadiseth and André van Heemstra following contractual
obligations to provide salary and benefits.
(3) The value of matching shares awarded on a conditional basis in respect of 2005 is not included. This will be reported in 2009 when the
shares vest.
(4) Other income includes the gains realised in 2005 following the exercise of share options granted in earlier years and the value of matching
shares vested in 2005. No value is attributed to TSR Long-Term Incentive Plan as the shares which were conditionally granted in 2002 did
not vest and lapsed in 2005.