BP (BP)

Policy

        The board sets the level of remuneration for all non-executive directors within the limit approved from time to time by shareholders. In line with BP's governance policies, the remuneration of the chairman is set by the board rather than by the remuneration committee, since the performance of the chairman is a matter for the board as a whole rather than any one committee.

        The board has adopted the following policies to guide its current and future decision-making with regard to non-executive directors' remuneration.

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Within the limits set by the shareholders from time to time, remuneration should be sufficient to attract, motivate and retain world-class non-executive talent.



—

Remuneration of non-executive directors is set by the board and should be proportional to their contribution towards the interests of the company.



—

Remuneration practice should be consistent with recognized best-practice standards for non-executive directors' remuneration.



—

Remuneration should be in the form of cash fees, payable monthly.



—

Non-executive directors should not receive share options from the Company.



—

Non-executive directors should be encouraged to establish a holding in BP shares broadly related to one year's base fee, to be held directly or indirectly in a manner compatible with their personal investment activities, and any applicable legal and regulatory requirements.

Policy

        The board sets the level of remuneration for all non-executive directors within the limit approved from time to time by shareholders. In line with BP's governance policies, the remuneration of the chairman is set by the board rather than by the remuneration committee, since the performance of the chairman is a matter for the board as a whole rather than any one committee.

        The board has adopted the following policies to guide its current and future decision-making with regard to non-executive directors' remuneration.

—

Within the limits set by the shareholders from time to time, remuneration should be sufficient to attract, motivate and retain world-class non-executive talent.



—

Remuneration of non-executive directors is set by the board and should be proportional to their contribution towards the interests of the company.



—

Remuneration practice should be consistent with recognized best-practice standards for non-executive directors' remuneration.



—

Remuneration should be in the form of cash fees, payable monthly.



—

Non-executive directors should not receive share options from the Company.



—

Non-executive directors should be encouraged to establish a holding in BP shares broadly related to one year's base fee, to be held directly or indirectly in a manner compatible with their personal investment activities, and any applicable legal and regulatory requirements.