BP (BP)

Share element awards made in previous years

        For outstanding awards of performance units made under the plans for the periods 2002-2004, 2003-2005 and 2004-2006, the existing performance conditions will apply for the three-year performance periods in each of the plans. The primary measure is BP's shareholder return against the market (SHRAM), which accounts for nearly two-thirds of the potential total award, the remainder being assessed on BP's relative return on ROACE and EPS growth.

        BP's SHRAM is measured against the companies in the FTSE All World Oil & Gas Index. Companies within the index are weighted according to their market capitalization at the beginning of each three-year period in order to give greatest emphasis to oil majors. BP's ROACE and EPS growth are measured against ExxonMobil, Shell, Total and Chevron. All calculations are reviewed by the auditors to ensure that they meet an independent objective standard. The relative position of the company within the comparator group determines the number of shares awarded per performance unit, subject to a maximum of two shares per unit.

Share element awards made in previous years

        For outstanding awards of performance units made under the plans for the periods 2002-2004, 2003-2005 and 2004-2006, the existing performance conditions will apply for the three-year performance periods in each of the plans. The primary measure is BP's shareholder return against the market (SHRAM), which accounts for nearly two-thirds of the potential total award, the remainder being assessed on BP's relative return on ROACE and EPS growth.

        BP's SHRAM is measured against the companies in the FTSE All World Oil & Gas Index. Companies within the index are weighted according to their market capitalization at the beginning of each three-year period in order to give greatest emphasis to oil majors. BP's ROACE and EPS growth are measured against ExxonMobil, Shell, Total and Chevron. All calculations are reviewed by the auditors to ensure that they meet an independent objective standard. The relative position of the company within the comparator group determines the number of shares awarded per performance unit, subject to a maximum of two shares per unit.