BP 2010 Annual Report Download - page 115
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Directors’ remuneration report
Directors’remunerationreport
Summary of future remuneration components
Salary • MrDudley’ssalaryremainsat$1,700,000.BothMrConnandDrGrote,wholastreceivedsalaryincreasesinJuly2008,will
havetheirsalariesincreasedeffective1April2011.MrConn’snewsalarywillbe£730,000(from£690,000)andDrGrote’swill
be$1,442,000(from$1,380,000).
Bonus • On-targetbonusof150%ofsalaryandmaximumof225%ofsalarybasedonperformancerelativetotargetssetatstartof
yearrelatingtonancialandoperationalmetrics.
Deferredbonus • One-thirdofactualbonusawardedasdeferredshareswiththree-yeardeferral,withabilitytovoluntarilydeferanadditional
andmatch one-third.
• Alldeferredsharesmatchedone-for-one,bothsubjecttoanassessmentofsafetyandenvironmentalperformanceoverthe
three-yearperiod.
Performanceshares • Awardofsharesofupto5.5timessalaryforgroupchiefexecutiveand4timesforotherexecutivedirectors.
• V estingafterthreeyearsbasedonperformancerelativetootheroilmajorsandstrategicimperatives.
• Three-yearretentionperiodaftervestingbeforereleaseofshares.
Pension • Final salaryschemeappropriatetohomecountryofexecutive.
Historical TSR performance
Thisgraphshowsthegrowthinvalueofahypothetical£100holdingin
BPp.l.c.ordinarysharesoverveyears,relativetotheFTSE100Index
(ofwhichthecompanyisaconstituent).Thevaluesofthehypothetical
£100holdingsattheendoftheve-yearperiodwere£87.46and
£126.25respectively.
05
Value of hypothetical £100 holding
06 07 08 09 10
250
200
150
100
50
FTSE 100
BP
Remuneration of non-executive directors in 2010a
£thousand
2009 2010
PAndersonb – 118
FBowmanc – 17
ABurgmans 93 90
CBCarroll 90 90
SirWilliamCastell 115 147
GDavidd 118 135
IDavise – 69
DJFlint 85 108
DrDSJulius 105 100
BNelsonf – 17
C-HSvanbergg 30 750
Directorsleavingtheboardin2010
EBDavis,Jrh 105 33
SirIanProsseri 165 52
aThisinformationhasbeensubjecttoaudit.
b Appointedon1February2010.
c Appointedon8November2010.
d Alsoreceived£28,000forservingasamemberofBP’stechnologyadvisorycouncil.
e Appointedon2April2010.
f Appointedon8November2010.
g Alsoreceivedarelocationallowanceof£90,000.
h Alsoreceivedasuperannuationgratuityof£21,000.
i Alsoreceivedasuperannuationgratuityof£43,945.
Noshareorshareoptionawardsweremadetoanynon-executivedirector
inrespectofserviceontheboardduring2010.
Non-executivedirectorshavelettersofappointmentwhich
recognizethat,subjecttotheArticlesofAssociation,theirserviceisatthe
discretionofshareholders.Alldirectorsstandforre-electionateachAGM.
BPAnnualReportandForm20-F2010 113