Unilever 2006 Annual Report Download - page 58

Unilever Annual Report and Accounts 2006 55
Report of the Directors (continued)
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 2006.
Aggregate remuneration for Executive Directors
The following table gives details of the aggregate remuneration (including value of the vesting of matching shares and exercise of
options) as a group.
€ ’000 €’000
2006 2005
Annual emoluments
Base salary 4061 5219
Allowances and other payments:
Allowances 178 255
Other payments(a) 735 2586
Benefits 111 264
Performance-related payments (annual incentive) 2409 2752
Sub-total of annual emoluments 7 494 11 076
Other income arising from vesting/exercise of long-term incentives(b)
Gains on exercise of share options 427 10
Vesting of matching shares 566 1149
Vesting of TSR Long-Term Incentive Plans ––
Total of annual emoluments and other income arising from long-term incentives 8 487 12 235
(a) Other payments include payments to Antony Burgmans and André van Heemstra following contractual obligations.
(b) Includes the gains realised in 2006 following the exercise of shareoptions granted in earlier years and the value of matching shares vested
in 2006. No value is attributed to TSR Long-Term Incentive Plan as the shares which were conditionally granted in 2003 did not vest and
lapsed in 2006.
Remuneration for individual Executive Directors
The following table gives details of the remuneration received in 2006 (including the value of vested share match and options exercised
at the end of the exercise period) by each Executive Director individually.
Other income arising from
long-term incentives and
Annual Emoluments 2006 exercise of options in 2006
Allowances Grand Grand
Base and other Total Total Option Share total total
salary payments(a) Benefits(b) Bonus(c) 2006 2005 gains match TSR/LTIP 2006 2005
Name and Base Country € ’000 € ’000 € ’000 € ’000 € ’000 €’000 € ’000 € ’000 € ’000 €’000 €’000
Patrick Cescau (UK)(d) 1426 109 51 1 141 2 727 2544 – 213 – 2940 2742
Kees van der Graaf (NL) 798 14 23 367 1202 1119 – 85 – 1287 1173
Ralph Kugler (UK) 862 27 10 414 1313 817 – 101 – 1414 827
Rudy Markham (UK) 975 28 27 487 1517 1425 427(e) 167 – 2111 1610
Following notice period payments made to former Executive Directors:
Antony Burgmans (NL) Jan – May 674 674 674
André van Heemstra (NL) January 61 61 61
(a) Include: allowance in lieu of company car; blind trust fees compensation; compensation for loss of net income because part of the salary had
to be paid in the Netherlands; entertaining allowance; allowance for cost on chauffeur driven cars and employers cost for the all-employee
savings plan in the Netherlands. All allowances aretaxable in the country of residence apart from the entertaining allowance which is
currently tax free in the Netherlands. Also includes payments to Antony Burgmans and André van Heemstra following contractual obligations.
(b) Include: benefits for company car; medical insurance; private use chauffeur driven cars; and housing (for business use) instead of hotel.
Included arebenefits that aretaxable in the country of residence. In addition, Unilever provides support to Executive Directors in relation to
spouse’stravel expenses when travelling together on company business. This amount is capped at 5% of base salary and for 2006 totalled
€206 083 (including related taxes payable).
(c) Bonus of the year 2006. Include: the value of both the cash element and the element paid in shares of Unilever N.V. and PLC. In addition to
the element of the bonus paid in shares each Executive Director is awarded, on a conditional basis, an equivalent number of matching shares.
(d) Group Chief Executive.
(e) All shares under option purchased and retained.
Figures have been translated into euros using the following exchange rate: €1 = £0.6818 (2005: €1 = £0.6837)