BP » Topics » The following shall be added as Rule 4.11:
This excerpt taken from the BP 20-F filed Mar 4, 2008.
The following shall be added as Rule 4.11:
4.11
Deductions and offsets from Performance
Units
It shall be a condition of any Award
to a US Participant that the Company, a Member of the Group, or another
company employing a US Participant may deduct from and set off against
the Shares (whether payable in cash or Shares and whenever payable) any
debt, obligation, liability, or other amount owed by the US Participant
to a Member of the Group, including but not limited to amounts under
an expatriate tax policy (as currently in effect or as amended from time
to time), or amounts advanced on behalf of the US Participant with respect
to employment taxes, as determined in the sole discretion of the Plan
Administrator.
