Executive Directors' service contracts

The Executive Directors are full-time employees of Unilever. Information about their remuneration can be found in the Summary remuneration report in this Annual Review. More detailed information can be found in the Report of the Remuneration Committee in the Annual Report and Accounts 2007 and on our website at www.unilever.com/investorcentre

The Remuneration Committee takes the view that the entitlement of the Executive Directors to the security of 12 months’ notice of termination of employment is in line both with the practice of many comparable companies and the entitlement of other senior executives within Unilever.

It is our policy to set the level of severance payments for Directors at no more than one year’s salary, unless the Boards, at the proposal of the Remuneration Committee, find this manifestly unreasonable given circumstances or unless otherwise dictated by applicable law.

The Executive Directors submit themselves for re-election at the AGMs each year. The Nomination Committee carefully considers each nomination for re-appointment.

The Directors stop holding executive office on ceasing to be Directors. Those appointed prior to 2004 retire at the latest by the age of 62. Appointees from 2004 onwards retire at an age between 60 and 65, as decided by either them or Unilever.

Read the rest of the Corporate governance section - Compliance