BP 2007 Annual Report Download - page 203
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BP ANNUAL REPORT AND ACCOUNTS 2007 201
11 Share-based payments continued
Accounting expense does not necessarily represent the actual value of share-based payments made to recipients, which are determined by the
remuneration committee according to established criteria.
12 Auditors’ remuneration
Fees payable to the company’s auditors for the audit of the company’s accounts were $18 million (2006 $15 million and 2005 $19 million).
Remuneration receivable by the company’s auditors for the supply of other services to the company is not presented in the parent company
accounts as this information is provided in the group accounts.
13 Directors’ remuneration
Remuneration of directors $ million
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2007 2006 2005
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Total for all directors
Emoluments 26 14 18
Gains made on the exercise of share options 212 –
Amounts awarded under incentive schemes 10 14 8
Emoluments
These amounts comprise fees paid to the non-executive chairman and the non-executive directors and, for executive directors, salary and benefits
earned during the relevant financial year, plus bonuses awarded for the year. This includes an ex gratia superannuation payment of $3 million
(2006 and 2005 nil) and compensation for loss of office of $1 million (2006 and 2005 nil).
Pension contributions
Six executive directors participated in a non-contributory pension scheme established for UK staff by a separate trust fund to which contributions are
made by BP based on actuarial advice. One US executive director participated in the US BP Retirement Accumulation Plan during 2007.
Office facilities for former chairmen and deputy chairmen
It is customary for the company to make available to former chairmen and deputy chairmen, who were previously employed executives, the use of
office and basic secretarial facilities following their retirement. The cost involved in doing so is not significant.
Further information
Full details of individual directors’ remuneration are given in the directors’ remuneration report on pages 63-73.