BP 2011 Annual Report Download - page 298

PC14 BP Annual Report and Form 20-F 2011
Parent company financial statements of BP p.l.c.
The parent company financial statements of BP p.l.c. on pages PC1 – PC14 do not form part of BP’s Annual Report on Form 20-F as filed with the SEC.
13. Directors’ remuneration
$ million
Remuneration of directors 2011 2010
Total for all directors
Emoluments 10 15
Gains made on the exercise of share options –2
Amounts awarded under incentive schemes 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. There was no compensation for loss of office in 2011 (2010 $3 million and 2009 nil).
Pension contributions
During 2011, one executive director 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. Two US executive directors participated in the US BP Retirement Accumulation Plan during 2011.
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 139 to 151.