Automatic Data Processing et la rémunération des dirigeants (Votes par procuration)

[Note: items are in reverse chronological order, with the most recent first.]

13 December 2013.  A response to our letter is received from Elena Charles, VP Investor Relations, outlining the company's position on environmental, social and governance (ESG) performance but failing to address the link with executive pay.

27 November 2013.  The VP Investor Relations is ultimately tracked down and an email sent, along with a copy of the original letter explaining our analysis of the two proposals.

16 November 2013.  EIG's attempt to communicate with the executive responsible for Investor Relations is foiled due to difficulty finding information on the appropriate person.  A letter is sent to the President & CEO.

12 November 2013.  ADP Annual meeting, EIG recommends voting against two proposals related to executive pay, based on analysis using our criteria for evaluating executive compensation plans:

• • advisory vote on executive compensation ("Say-on-Pay");

  • to re-approve the performance-based provisions of the 2008 Omnibus Award Plan.

Both proposals are approved with a large majority:

• • Say-on-Pay: For 97%.  Against 2%.  Abstain 1%.

  • Re-approve performance-based provisions of Omnibus Award plan: For 96%.  Against 4%.  Abstain 0%.