BP 2008 Annual Report Download - page 174

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4
Financial statements
BP Annual Report and Accounts 2008
Notes on financial statements
42. Employee costs and numbers continued
2006
Rest of Rest of
Average number of employees UK Europe US World Total
Exploration and Production 3,500 800 7,100 9,000 20,400
Refining and Marketing 11,100 19,300 24,800 14,100 69,300
Other businesses and corporate 2,200 800 2,600 1,800 7,400
16,800 20,900 34,500 24,900 97,100
43. Remuneration of directors and senior management
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 employees 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.
Remuneration of senior management
$ million
2008 2007 2006
Total for all senior management
Short-term employee benefits 40 37 30
Post-retirement benefits 47
Share-based payments 20 22 26
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 benefits
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 benefits earned during the 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 $3 million (2007 $1 million and 2006 $5 million).
Post-retirement benefits
The amounts represent the estimated cost to the group of providing defined benefit pensions and other post-retirement benefits to senior
management in respect of the current year of service measured in accordance with IAS 19 ’Employee Benefits’.
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,
MTPP and LTPP. For details of these plans refer to Note 41.
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