Arrangements for Jim Lawrence

Jim Lawrence joined Unilever in September 2007 as Chief Financial Officer. He will be proposed for election to the Boards of NV and PLC at the AGMs in May 2008. Given Unilever’s objective of balancing remuneration more clearly towards performance-linked variable pay the agreed package follows this policy direction. His salary in 2007 was set at US$1 100 000 per annum; the maximum annual incentive in 2007 was 150% of salary and the grant under the GSIP in 2007 was 49 962 each of NV shares and PLC shares. He will be in a pension plan similar to that of Unilever in the US, which is a defined contribution plan. To compensate for the forfeiture of incentives from his former employer, a cash allowance was paid on appointment of US$1 million (with a pro rata claw back over three years) and restricted shares of 35 565 each of NV and PLC were granted (at award value US$2.5 million). These will vest for ⅓ after one year of service, ⅓ after two years of service and ⅓ after three years of service.

Jim Lawrence has purchased 295 508 NV shares and 240 000 PLC ADRs.

Read the rest of the Summary remuneration report - Future developments