Unilever 2015 Annual Report Download - page 90

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ADVISERS
Whle t s the ommttee’s responsblty to exercse ndependent udgement, the ommttee does request advce from management
and professonal advsers, as approprate, to ensure that ts decsons are fully nformed gven the nternal and external envronment
The ommttee apponted Tom oslng of Prcewaterhouseoopers (Pw) to provde ndependent advce on varous matters t
consdered The wder Pw frm has also provded tax and consultancy servces to Unlever ncludng tax complance, transfer prcng,
R&D and grant clams, other tax related servces, contract complance revews, fnance controllers’ tranng, nternal audt advce and
secondees, thrd party rsk and complance advce, sustanablty assurance and consultng, and fnancal due dlgence
Pw s a member of the Remuneraton onsultants roup and, as such, voluntarly operates under the code of conduct n relaton
to executve remuneraton consultng n the UK, whch s avalable at wwwremuneratonconsultantsgroupcom
wwwremuneratonconsultantsgroupcom
The ommttee s satsfed that the Pw engagement partner and team, whch provde remuneraton advce to the ommttee, do not
have connectons wth Unlever NV or Unlever PL that mght mpar ther ndependence The ommttee revewed the potental for
conflcts of nterest and udged that there were approprate safeguards aganst such conflcts The fees pad to Pw n relaton to advce
provded to the ommttee n the year to 31 December 2015 were £30,000 Ths fgure s calculated based on tme spent and expenses
ncurred for the maorty of advce provded, but on occason for specfc proects a fxed fee may be agreed
Durng the year, the ommttee also sought nput from the EO (Paul Polman), the hef Human Resources Offcer (Doug Balle) and
the SVP lobal Head of Reward (Peter Newhouse) on varous subects ncludng the remuneraton of senor management No ndvdual
Executve Drector was present when ther own remuneraton was beng dscussed to ensure a conflct of nterest dd not arse The
ommttee also receved legal and governance advce from the roup Secretary (Tona Lovell)
LARIFIATION STATEMENT
After publcaton of our Drectors’ Remuneraton Report 2013 the ommttee ssued a clarfcaton statement at the request of The
Investment Assocaton (prevously IMA and ABI) The statement s avalable on our webste The statement confrms that we wll not
make share awards hgher than the maxmum awards stated n our Remuneraton Polcy for exstng and newly hred Executve Drectors
wthout pror shareholder approval It further clarfes that awards to newly hred Executve Drectors to buy out remuneraton tems on
leavng the prevous employer as provded n the new hres polcy wll be done under the SIP onsequently, under such exceptonal
crcumstances, the aggregated SIP share awards for a newly hred Executve Drector may be hgher than the maxmum annual award
set out n the Remuneraton Polcy As stated n the Remuneraton Polcy n relaton to new hres, we wll nform shareholders of any such
buyout awards when announcng the appontment
wwwunlevercom/ara2015/downloads
SHAREHOLDER VOTIN
Unlever remans commtted to ongong shareholder dalogue and takes an actve nterest n votng outcomes In the event of a substantal
vote aganst a resoluton n relaton to Drectors’ remuneraton, Unlever would seek to understand the reasons for any such vote and
would set out n the followng Annual Report and Accounts any actons n response to t
The followng table sets out actual votng n respect of our prevous report
Votng outcome (% of votes) For Aganst
2014 Drectors’ Remuneraton Report (excludng the Drectors’ Remuneraton Polcy)
(2015 AM)(a) PL 9628% 372%
(a) 8,729,239 votes were wthheld (approxmately 068% of share captal)
The Drectors’ Remuneraton Report s not subect to a shareholder vote n the Netherlands
The Drectors’ Remuneraton Report has been approved by the Boards and sgned on ther behalf by Tona Lovell, roup Secretary
83Unilever Annual Report and Accounts 2015 Governance