BP 2008 Annual Report Download - page 208
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Financial statements
12
BP Annual Report and Accounts 2008
Parent company financial statements of BP p.l.c.
13. Directors’ remuneration
Remuneration of directors $ million
2008 2007 2006
Total for all directors
Emoluments 19 26 14
Gains made on the exercise of share options 12
Amounts awarded under incentive schemes –10 14
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 nil (2007 $3 million
and 2006 nil) and compensation for loss of office of $1 million (2007 $1 million and 2006 nil).
Pension contributions
Four 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 2008.
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 77 to 87.
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