BP 2010 Annual Report Download - page 219

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Notesonnancialstatements
Financial statements
43.Remunerationofdirectorsandseniormanagement
Remuneration of directors
 $million
 2010 2009 2008
Totalforalldirectors
Emoluments      15 19 19
Gainsmadeontheexerciseofshareoptions      2 2 1
Amountsawardedunderincentiveschemes      4 2 –
  
Emoluments
Theseamountscomprisefeespaidtothenon-executivechairmanandthenon-executivedirectorsand,forexecutivedirectors,salaryandbenets
earnedduringtherelevantnancialyear,plusbonusesawardedfortheyear.Alsoincludedwascompensationforlossofofceof$3millionin2010
(2009niland2008$1million).
Pensioncontributions
During2010threeexecutivedirectorsparticipatedinanon-contributorypensionschemeestablishedforUKemployeesbyaseparatetrustfundtowhich
contributionsaremadebyBPbasedonactuarialadvice.TwoUSexecutivedirectorsparticipatedintheUSBPRetirementAccumulationPlanduring2010.
Ofce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ofce
andbasicsecretarialfacilitiesfollowingtheirretirement.Thecostinvolvedindoingsoisnotsignicant.
Furtherinformation
Fulldetailsofindividualdirectors’remunerationaregiveninthedirectors’remunerationreportonpages112to121.
Remuneration of directors and senior management
 $million
       2010 2009 2008
Totalforallseniormanagement
Short-termemployeebenets      25 36 34
Post-retirementbenets      3 3 4
Share-basedpayments      29 20 20
  
Seniormanagement,inadditiontoexecutiveandnon-executivedirectors,includesotherseniormanagerswhoaremembersoftheexecutive
managementteam.
Short-termemployeebenets
Inadditiontofeespaidtothenon-executivechairmanandnon-executivedirectors,theseamountscomprise,forexecutivedirectorsandseniormanagers,
salaryandbenetsearnedduringtheyear,pluscashbonusesawardedfortheyear.Deferredannualbonusawards,tobesettledinshares,areincluded
inshare-basedpayments.Short-termemployeebenetsincludescompensationforlossofofceof$3million(2009$6millionand2008$3million).
Post-retirementbenets
Theamountsrepresenttheestimatedcosttothegroupofprovidingdenedbenetpensionsandotherpost-retirementbenetstoseniormanagement
inrespectofthecurrentyearofservicemeasuredinaccordancewithIAS19‘EmployeeBenets’.
Share-basedpayments
Thisisthecosttothegroupofseniormanagement’sparticipationinshare-basedpaymentplans,asmeasuredbythefairvalueofoptionsandshares
grantedaccountedforinaccordancewithIFRS2‘Share-basedPayments’.ThemainplansinwhichseniormanagementhaveparticipatedaretheEDIP,
DABandRSP.FordetailsoftheseplansrefertoNote41.
BPAnnualReportandForm20-F2010 217