Unilever 2013 Annual Report Download - page 72

APPROAH TO TARET SETTIN
The Commttee sets performance targets for ncentve plans, takng nto account nternal budgets, busness prortes and external
forecasts so that the targets are suffcently stretchng ood performance results n target payout whle maxmum payout s only
acheved for delverng exceptonal performance
The Commttee retans the dscreton to amend the performance targets n exceptonal crcumstances If dscreton s exercsed n ths
way, the ommttee wll consult wth major shareholders as approprate
INENTIVE AWARDS RANTED TO EXEUTIVE DIRETORS THAT ARE NOT SUBJET TO PERFORMANE MEASURES
No ncentve awards were made wthout performance measures n 2013
SUMMARY OF ANY HANES TO THE REMUNERATION POLIY
There have been no changes to the remuneraton polcy durng 2013
DIFFERENES IN PAY POLIY FOR DIRETORS AND OTHER EMPLOYEES ENERALLY
Remuneraton arrangements are determned throughout the roup based on the same prncple – that reward should support our
busness strategy and should be suffcent to attract and retan hgh-performng ndvduals wthout payng more than s necessary
Unlever s a global organsaton wth employees at a number of dfferent levels of senorty and n a number of dfferent countres and,
whle ths prncple underpns all reward arrangements, the way t s mplemented vares by geography and level
In prncple, all our managers partcpate n the same Unlever annual bonus scheme wth the same performance measures based on
Unlever’s overall performance All mddle and senor management are nvted to partcpate n the MIP and receve awards under the
SIP All other employees wll have the opportunty to partcpate n the global employee share plan followng ts mplementaton
ONSIDERATION OF ONDITIONS ELSEWHERE IN THE ROUP
When determnng the pay of Executve Drectors the ommttee consders the pay arrangements for other employees n the roup,
ncludng consderng the average global pay revew budget for the management populaton, to ensure that remuneraton
arrangements for Executve Drectors reman reasonable
Unlever employs over 170,000 people n 98 countres and, gven ths geographc spread and other factors, the ommttee dd not
consder that t was approprate to consult employees on the remuneraton polcy for Executve Drectors durng the year However,
Unlever takes the vews of ts employees serously and on an ongong bass we operate the ‘Rate-My-Reward’ survey to gauge the
vews of employees on the dfferent parts of ther reward package
ONSIDERATION OF SHAREHOLDER VIEWS
The Commttee takes the vews of shareholders very serously These vews have been nfluental n shapng our polcy and practce over the
last few years We mantan an open and regular dalogue wth our shareholders on remuneraton matters, ncludng consultng wth our
largest shareholders n the UK and the Netherlands, when we are consderng makng materal changes to our remuneraton polcy
REMUNERATION POLIY FOR NEW HIRES
In the event of hrng a new Executve Drector, the ommttee wll algn the remuneraton package wth the above Polcy In addton,
theommttee retans the dscreton to make awards to the new Executve Drector to buy out on a lke-for-lke bass remuneraton
termsforfeted on leavng a prevous employer (buy out awards) We wll nform shareholders of any such buy out awards when
announcng the appontment
For an nternal appontment, any varable remuneraton element awarded n respect of a pror role may be pad out accordng to ts orgnal
terms In addton, any other ongong remuneraton oblgatons exstng pror to appontment to the Boards may contnue to be honoured
MINIMUM SHAREHOLDIN REQUIREMENT
The remuneraton arrangements applcable to our Executve Drectors requre them to buld and retan a personal shareholdng n
Unlever (by the later of 2015 or fve years from the date of appontment) to algn ther nterests wth those of Unlever’s long-term
shareholders
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Unlever Annual Report and Accounts 2013 overnance