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Exhibit 4.1    
    

 
 

THE BP EXECUTIVE DIRECTORS' INCENTIVE PLAN    
    

Preamble  

The
Plan has three Elements which comprise the tools available to the Committee to construct Executive Directors' long-term incentive arrangements: 

The Share Element    This Element permits Performance Share Awards to be granted to Executive Directors, which may result in Shares vesting
(without payment by the Executive Directors) to the extent that a demanding performance condition imposed by the Committee is met. In exceptional circumstances, Shares may be awarded which are subject
to a requirement of continued service over a specified period, rather than a corporate performance condition; 

The Share Option Element    This Element permits Options to be granted to Executive Directors at an Option Exercise Price no lower than the
Market Value of a Share. All Options will be subject to a demanding performance condition; and 

The Cash Incentive Element    This Element (which shall only be capable of grant under the Schedule to the Plan) enables the Committee to
introduce long-term cash-based incentives into the remuneration package. The Committee only intends to use this Element in special circumstances. 

In
operating the Plan, the Committee shall at all times have regard to the following key objectives and principles (as amended in connection with renewal of the Plan at the Annual General Meeting in
2005): 

	(a)
	policy
for the remuneration of Executive Directors shall be determined and regularly reviewed independently of executive management and will set the tone for the remuneration of other
senior executives;

	(b)
	the
remuneration structure shall support and reflect the Company's stated purpose to maximize long-term shareholder value;

	(c)
	the
remuneration structure shall reflect a just system of rewards for Participants;

	(d)
	the
overall quantum of all potential remuneration components shall be determined by the exercise of informed judgement of the Committee taking into account the success of the Company
and the competitive global market;

	(e)
	the
majority of the remuneration shall be linked to the achievement of demanding performance targets that are independently set and reflect the creation of long-term
shareholder value;

	(f)
	assessment
of performance shall be quantitative and qualitative and shall include exercise of informed judgement by the Committee within a framework that takes account of sector
characteristics and is approved by shareholders;

	(g)
	the
Committee shall be proactive in obtaining an understanding of shareholder preferences;

	(h)
	remuneration
policy and practices shall be as transparent as possible both for Participants and shareholders; and

	(i)
	the
interests of Executive Directors and shareholders shall continue to be aligned by requiring Executive Directors to build up a significant shareholding in the Company, as specified
by the Committee from time to time. 

Definitions  

1.1    In
this Plan, unless the context otherwise requires, the following words and expressions shall have the following meanings, namely: 

Adoption Date means the date of the adoption of the Plan by the Company in general meeting; 

Award means a right granted under the rules of the Plan in relation to an Element; 

Cause means material breach by a Participant of his contract of employment; 

the Committee means the Remuneration Committee of the board of directors of the Company; 

the Company means BP plc; 

Control has the meaning given to that word by section 840 of the Taxes Act; 

Date of Grant means the date on which an Award is granted; 

Dealing Day means any day on which the London Stock Exchange (or in relation to an Option Exercise Price in US dollars the New York Stock Exchange) is
open for business; 

Element means, as appropriate, the Share Element, the Share Option Element, or the Cash Incentive Element; 

Executive Director means any executive director of the Company; 

Grant Letter means the document setting out the rights and obligations attaching to an Award and which shall include or incorporate by reference the
rules of the relevant sub-plan to which an Award relates; 

Grant Period means the period of 42 days commencing on any of the following: 

	(a)
	the
Adoption Date or the Renewal Date;

	(b)
	the
day on which the Company makes an announcement of its results for the last preceding financial year, half year, quarter or other period; or

	(c)
	any
day on which the Committee resolves that exceptional circumstances exist which justify the grant of Awards; 

the Group means the Company and the Subsidiaries and member of the Group shall be construed accordingly; 

Market Value means, in relation to a Share, the closing price for a Share as derived from the Daily Official List of The London Stock Exchange on any
Dealing Day (or if applicable the closing price on the New York Stock Exchange); 

Option means a right granted under the Plan to purchase Shares; 

Option Exercise Price means the price per Share (in Sterling or US dollars) payable on the exercise of an Option as determined by the Committee (subject
to adjustment under rule 7); 

Participant means any individual who holds a subsisting Award (including, where the context permits, the legal personal representatives of a deceased
Participant); 

Performance Period means, in relation to the Share Element, the period of three years (or such longer period as the Committee may specify) over which
corporate performance is measured; 

Performance Share Award means, in relation to the Share Element, a conditional right to Shares at the end of a Performance Period, subject to
satisfaction of performance conditions and all other terms on which the award was granted; 

the Plan means this Plan as amended from time to time; 

Renewal Date means the date of renewal of the Plan by the Company in general meeting (14 April 2005); 

Shares means fully paid ordinary shares in the capital of the Company or American Depository Shares (or, in either case, shares representing those
shares following any reorganisation of the share capital of the Company); 

Subsidiary means any subsidiary of the Company within the meaning of section 736 of the Companies Act 1985 over which the Company has Control; 

Taxes Act means the Income and Corporation Taxes Act 1988; 

Treasury Shares means ordinary shares in the capital of the Company which are held in treasury by the Company in accordance with sections
162A-G of the Companies Act 1985; and 

Trustee means the trustee from time to time of any employee trust which the Committee selects to satisfy Awards. 

1.2    Where
the context permits the singular shall include the plural and vice versa and the masculine shall include the feminine. Headings shall be ignored in construing the Plan. 

1.3    References
to any act shall include any statutory modification, amendment or re-enactment thereof. 

Grant of Awards  

2.1    The
Committee may, during a Grant Period, grant Awards to Executive Directors selected by the Committee in its absolute discretion. For the avoidance of doubt, no Executive Director
shall have the right or expectation to participate in the Plan. 

2.2    Each
Award shall comprise such Elements, and shall be subject to such performance conditions, as the Committee determines at its absolute discretion. In determining the Elements and
setting performance conditions, the Committee shall consider a range of internal and external factors affecting the Company. 

2.3    The
grant of an Award and/or the delivery of Shares upon exercise thereof shall be conditional on the Executive Director agreeing to comply with any arrangements specified by the
Company for the payment of taxation and social security contributions (including without limitation the right to sell on his behalf sufficient Shares to satisfy any taxation or social security
contributions liability on his part for which any member of the Group may be liable) in respect of an Award. 

2.4    As
soon as practicable after the Date of Grant the Committee shall procure the issue to a Participant of a Grant Letter in respect of the Elements granted to him. 

2.5    An
Executive Director to whom an Award is granted may, by notice in writing to the Company given within 30 days after the Date of Grant, renounce in whole or in part his rights
under the Award. 

2.6    No
Award shall be granted under the Plan later than the fifth anniversary of the Adoption Date. Upon renewal of the Plan at the Annual General Meeting in 2005, no Award shall be
granted under the Plan later than the fifth anniversary of the Renewal Date. 

2.7    Every
Award granted hereunder shall be personal to the Participant and, except to the extent necessary to enable a personal representative to exercise the Award following the death of
a Participant, neither the Award nor the benefit thereof may be transferred, assigned, charged or otherwise alienated. Any transfer of an Award otherwise than as permitted under this rule 2.7
shall cause the Award to lapse. 

Plan Limits  

3.1    Awards
may only be satisfied using existing issued Shares or, following the Renewal Date, using existing issued Shares or Treasury Shares. Where existing issued Shares are used, the
Company shall provide (and shall procure, where appropriate, that any member of the Group which employs Participants shall provide) sufficient monies to enable the Trustee to acquire sufficient Shares
to satisfy all Awards. Such monies shall be provided to the Trustee no later than the date on which the Award is exercisable. 

3.2    The
total number of Shares that may be transferred (whether as existing issued Shares or as Treasury Shares) pursuant to Awards granted under the Plan in the five years following the
Renewal Date (ignoring Shares comprised in Awards which have been cancelled, renounced pursuant to rule 2.5 or have lapsed) shall not exceed 0.5 per cent. of the issued ordinary share capital
of the Company as at the Renewal Date. 

3.3    There
is no limit on the value of Awards which may be granted to a Participant in any year or over the life of the Plan. However, (a) the total combined value of Awards granted
under all Elements in any year will be set by the Committee at a level designed to reflect global market practice, and (b) for the purposes of regulation 162 of the Internal Revenue
Code, no Participant who is resident in the United States will be granted Awards under either the Option Element or the Share Element in any year over more than 0.1 per cent. of the issued ordinary
share capital of the Company as at the Adoption Date. 

Specific Provisions relating to the Share Element  

4.1    The
Committee may, at its absolute discretion, grant the Share Element during any Grant Period. The Share Element will normally be subject to a demanding performance condition. The
performance condition attaching to Awards under this Element will be determined by the Committee at the time of grant and will usually require a sustained improvement in the Company's performance,
normally relative to its peer group, over a Performance Period. 

4.2    The
Shares awarded on maturity of this Element will normally be subject to a compulsory retention period determined by the Committee which will not normally be less than three years.
Shares will only be released at the end of the retention period if the Company's minimum shareholding guidelines (as determined by the Committee from time to time) have been met. 

4.3    The
Grant Letter issued under rule 2.4 shall specify, inter alia, the following: 

	(a)
	the
circumstances, if any, and proportions in which, an award of Shares will vest under this Share Element in the event that a Participant ceases to be an employee of the Group prior
to the end of the Performance Period;

	(b)
	whether
any retention period will apply to any award of Shares pursuant to sub-paragraph (a) of this rule 4.3 and the length of any such retention period;

	(c)
	whether
any award of Shares will vest under this Share Element in the event of the death of the Participant; and

	(d)
	that
any entitlement to an award of Shares under the Share Element will automatically lapse in the event that:

	(i)
	the
Participant is dismissed for Cause; and

	(ii)
	the
Participant is declared bankrupt or enters into any general composition with or for the benefit of his creditors. 

4.4    In
exceptional circumstances, the Committee may make Awards under the Share Element which are subject to a requirement of continued service over a specified period, rather than a
corporate performance condition. Such Awards will only be made as an element in a recruitment or retention incentive or as a reward for exceptional achievement of projects. 

Specific Provisions relating to Options  

5.1    The
Committee may, at its absolute discretion, grant Options during any Grant Period. The Option Exercise Price of such Options shall be determined by the Committee at its absolute
discretion, but shall not be less than the Market Value of a Share on the Dealing Day preceding the Date of Grant or the average of the Market Values of a Share on the three Dealing Days prior to the
Date of Grant. 

5.2    All
Options will be subject to a demanding performance condition. 

5.3    The
Committee will not grant Options unless it considers that an Option grant is supported by the underlying performance of the Company's business. 

5.4    The
Grant Letter issued under rule 2.4 shall specify, inter alia, the following: 

	(a)
	the
date or dates on which the Option shall normally become exercisable;

	(b)
	the
date or dates on which the Option shall lapse PROVIDED THAT no Option shall be capable of exercise after the tenth anniversary of its Date of Grant;

	(c)
	the
circumstances, if any, and the proportions in which the Option shall become exercisable in the event that a Participant ceases to be an employee of the Group;

	(d)
	whether
and to what extent, the Option shall become exercisable in the event of the death of the Participant;

	(e)
	that
all the Option will automatically lapse in the event that:

	(i)
	the
Participant is dismissed for Cause; and

	(ii)
	the
Participant is declared bankrupt or enters into any general composition with or for the benefit of his creditors; and

	(f)
	the
procedure for the exercise of an Option (including whether the Option may be exercised in whole or in part). 

5.5    Any
Grant Letter issued pursuant to rule 5.4 shall ensure that legally enforceable rights are created in favour of the Participant. 

Corporate Transactions and other events  

6.1    Save
as provided in rules 6.2 and 6.3, if: 

	(a)
	any
company obtains Control of the Company as a result of making a general offer to acquire all the Shares (other than those which are already owned by him and/or any person acting in
concert with him);

	(b)
	any
company, having such Control, makes a general offer to acquire the Shares (other than those which are already owned by him and/or any person acting in concert with him);

	(c)
	any
company obtains Control of the Company in pursuance of a scheme of arrangement sanctioned by the Court under section 425 of the Companies Act 1985; or

	(d)
	notice
is duly given of a resolution for the voluntary winding-up of the Company; 

then
the following provisions shall apply (unless the Committee specifies otherwise in the Grant Letter at the time of grant): 

	(i)
	any
Option granted prior to the date on which the relevant event occurs shall become exercisable in full (irrespective of whether it is already exercisable and irrespective of
satisfaction of any performance conditions) and the Option will lapse on such date as the Committee specifies;

	(ii)
	if
the relevant event occurs before the end of a Performance Period relating to an Award under the Share Element, the Committee will immediately determine the number of Shares which
vest for each Participant, taking account of the proportion of the Performance Period which has elapsed and the degree to which the performance condition has been satisfied. 

6.2    For
the avoidance of doubt, Awards shall not without the consent of the Committee be exercisable under rule 6.1 in the event of a scheme of arrangement (referred to in
rule 6.1(c)) if the purpose and effect of the scheme of arrangement is to create a new holding company for the Company, such company having substantially the same shareholders and proportionate
shareholdings as those of the Company immediately prior to the scheme of arrangement. In that event, the Committee shall endeavour to procure that an exchange of Awards is effected under
rule 6.3. 

6.3    If
any company (the Acquiring Company) obtains Control of the Company as a result of an event referred to in rule 6.1, each
Participant may, at any time within one month of the change of Control, with the agreement of the Acquiring Company, release any Award (or Element thereof) which has not lapsed (the  Old Right) in
consideration of the grant to him of a new award, which in the opinion of the Committee and the Acquiring Company is equivalent to the Old
Right but relates to shares in a different company (whether the Acquiring Company itself or another company its group). 

Adjustment of Awards  

7.    In
the event of: 

	(i)
	any
variation in the share capital or reserves of the Company (including, without limitation, by way of capitalisation or rights issue or any consolidation, sub-division
or reduction); or

	(ii)
	the
implementation by the Company of a demerger or the payment by the Company of a super-dividend which would otherwise materially affect the value of an Award, then the terms of
Awards (including, if relevant, the performance conditions applicable thereto) shall be adjusted in such manner as the Committee shall determine in its absolute discretion  provided that no adjustment
shall be made pursuant to this rule unless and until the auditors for the time being of the Company (acting as experts not
arbitrators) shall confirm in writing to the Committee that such adjustment is in their opinion fair and reasonable. 

Transfer of Shares on Exercise of Awards  

8.1    Subject
to any necessary consents, to payment being made for the Shares and to compliance by the Participant with the terms of the Plan, not later than 30 days after vesting
(or, if applicable, receipt of valid notice of exercise), the Company shall procure the transfer of Shares to the Participant (or to his nominee). The Company shall (unless the Shares are to be issued
in uncertificated form) as soon as practicable deliver to the Participant (or his nominee) a definitive share certificate or other evidence of title in respect of such Shares. 

8.2    The
Company shall not be obligated to procure the transfer of Shares in connection with any Award or take any other action under the Plan in a transaction subject to the requirements
of any applicable securities law, any requirement under any listing agreement between the Company and any securities exchange or automated quotation system or any other law, regulation or contractual
obligation of the company until the Company is satisfied that such laws, regulations, and other obligations of the Company have been complied with in full. The Company may require any Participant to
make such representations and furnish such information as it may consider appropriate in connection with the transfer of Shares under the Plan. Certificates representing Shares will be subject to such
stop-transfer orders and other restrictions as may be applicable under such laws, regulations and other obligations of the Company, and a legend or legends may be placed thereon to reflect
such restrictions. 

Rights Attaching to Shares Transferred Pursuant to Awards  

9.1    All
Shares transferred upon the exercise of an Award shall rank pari passu in all respects with the Shares in issue at the date of
exercise save as regards any rights attaching to such Shares by reference to a record date prior to the date of exercise. 

9.2    Any
Shares acquired on exercise of Awards shall be subject to the articles of association of the Company from time to time. 

Administration and Amendment  

10.    The
decision of the Committee shall be final and binding in all matters relating to the Plan and it may at any time discontinue the grant of further Awards or amend any of the
provisions of the Plan in any way it thinks fit provided that: 

	(a)
	the
Committee shall not make any amendment that would materially prejudice the interests of existing Participants except with the prior consent or sanction of Participants; and

	(b)
	no
amendment to the advantage of Executive Directors or Participants may be made to the basic structure of the Plan (as determined by the Committee but including, without limitation,
the definition of Executive, the limit under rule 3.2, the terms of Shares to be provided under the Plan and the adjustment provisions of
rule 7 of the Plan) without the prior approval of the Company in general meeting except in the case of an amendment to benefit the administration of the Plan. 

General  

11.1    The
Plan constitutes an employees' share scheme for the purposes of section 743 of the Companies Act 1985 (being a scheme for encouraging or facilitating the holding of
Shares), save in respect of rights granted under the Schedule hereto. Any member of the Group may provide money to the trustees of any trust or any other person to enable them or him to acquire Shares
to be held for the purposes of the Plan, or enter into any guarantee or indemnity for those purposes, to the extent not prohibited by section 151 of the Companies Act 1985. 

11.2    The
rights and obligations of a Participant under the terms and conditions of his office or employment shall not be affected by his participation in the Plan or any expectation or
right which (notwithstanding rule 2.1) he believes he may have to participate in the Plan. An individual who participates in the Plan waives all and any rights to compensation or damages in
consequence of the termination of his office or employment with any company for any reason whatsoever insofar as those rights arise, or may arise, from his ceasing to have rights under or be entitled
to exercise any Award under the Plan as a result of such termination or from the loss or diminution in value of such rights or entitlements. If necessary, the Participant's terms of employment shall
be deemed to be varied accordingly. 

11.3    Any
notice or other document required to be given under or in connection with the Plan may be delivered to a Participant or sent by post to him at his home address according to the
records of his employing company or such other address as may appear to the Company to be appropriate. Notices sent by post shall be deemed to have been given on the day following the date of posting.
Any notice or other document required to be given to the Company under or in connection with the Plan may be delivered or sent by post to it at its registered office (or such other place or places as
the Committee may from time to time determine and notify to Participants). 

11.4    Benefits
under the Plan shall not be pensionable. 

11.5    The
Company, or where the Committee so directs any Subsidiary, shall pay the appropriate stamp duty on behalf of Participants in respect of any transfer of Shares on the exercise of
Awards. 

11.6    These
rules shall be governed by, and construed in accordance with, the laws of England. 

 
 

SCHEDULE    
    

Those matters covered by this Schedule do not form part of an employees' share scheme for the purposes of section 743 of the Companies Act 1985, because they involve or
may involve payment of cash amounts to Participants.

Specific Provisions relating to Cash Incentive Element  

1.1    The
Committee may, at its absolute discretion, grant the Cash Incentive Element during any Grant Period. 

1.2    The
Cash Incentive Element shall be subject to such terms (including performance conditions) as the Committee shall impose at the time of grant. The Committee only intends to grant
this Element in special circumstances. 

1.3    If
an event within rule 7 occurs, any Cash Incentive Element shall be treated in such manner as the Committee specifies at the time of grant or subsequently. 

Payment of cash equivalent amounts  

2.1    The
Committee may, at its absolute discretion, permit a Participant to be paid a cash equivalent to the value of the Shares to which he would have been entitled under the Share Option
Element or the Share Element of the Plan. 

 
 

THE BP EXECUTIVE DIRECTORS' INCENTIVE PLAN    
    

  (Adopted by shareholders at the Annual General Meeting on 13th April 2000)  

 (Renewed by shareholders at the Annual General Meeting on 14th April 2005)  

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Exhibit 4.1

THE BP EXECUTIVE DIRECTORS' INCENTIVE PLAN

SCHEDULE

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Exhibit 4.2    
    

 
 

DIRECTORS' SERVICE CONTRACTS    
    

D
C Allen

E J P Browne

Mr I C Conn

B E Grote

A B Hayward

J A Manzoni 

THE BRITISH PETROLEUM COMPANY p.l.c.

and

DAVID CHRISTOPHER ALLEN

SERVICE AGREEMENT  

THIS AGREEMENT is made on    January 2003 

BETWEEN:  

	(1)
	BP p.l.c. (registered number 102498) whose registered office is at 1 St James's Square, London SW1Y 4PD (the
"Company"); and

	(2)
	David Christopher Allen c/o BP p.l.c., 1 St James's Square, London SW1Y 4PD (the
"Executive") 

IT IS AGREED as follows: 

1.     Employment  

The
Company shall continue to employ the Executive and the Executive shall assume the position of a Senior Executive of the Company on the terms set out in this agreement (the
"Employment"). The Employment in this position shall take effect from 1 February 2003. 

2.     Salary  

	(1)
	The
Company shall pay to the Executive a salary at the rate of £400,000 per annum.

	(2)
	The
Executive's salary shall be reviewed at the discretion of the Remuneration Committee.

	(3)
	The
Executive's salary shall accrue from day to day and be payable by equal instalments in arrear on the last day of every month. 

3.     Pensions  

The
Executive is entitled to continue to be a member of The BP Pension Scheme (the "Pension Scheme") subject to its terms. The Executive is entitled to
benefits under the Pension Scheme in accordance with the separate arrangements made between the Company and the trustees of the Pension Scheme for the benefit of the Executive and as notified to him
from time to time by the Company. 

4.     Termination of Employment  

	(1)
	The
Company or the Executive may terminate the Employment by giving to the other party at least 12 months' notice in writing expiring at any time.

	(2)
	The
Employment will automatically terminate (if not already terminated) on the day before the Executive's 60th birthday.

	(3)
	The
Company may at any time terminate the Employment with immediate effect by giving notice in writing to the Executive on terms that the Company shall pay to the Executive, in lieu
of the remainder of the term of the Employment or, as the case may be, notice under subclause (1) above, an amount equal to 12 months' salary or the amount of salary that would have been
paid to the Executive if the Employment terminated on the expiry of the remainder of any notice given under subclause (1) above as the case may be provided that the Executive's entitlement to
the payment shall be conditional on him agreeing to comply with his obligations to the Company following the termination of the Employment (which include, but without limiting the generality of the
foregoing his obligations not to use or disclose the Company's or the Group's confidential information under the General Terms and Conditions of Employment).

	(4)
	The
Company may in circumstances where the Remuneration Committee reasonably deems it to be in the Company's best interests elect that in place of a lump sum payment in lieu of notice
under sub-clause (3) above the Company will pay the Executive in lieu of notice in a series of staged payments at the time or times that the Executive would have been paid had he
been employed during the period of notice or remainder of such period given under sub-clause (1) above. 

	(5)
	Subclause
(1) above does not limit the Company's rights to suspend any of the Executive's duties and powers under this agreement or the General Terms and Conditions of
Employment. In addition or alternatively, the Company may during the whole or any part of any period of notice require the Executive to perform duties (including any modified duties arising from an
exercise by the Company of its rights under the General Terms and Conditions of Employment) at such locations as the Company may reasonably require. Throughout any such period of suspension the
Executive's salary and other benefits to which he is entitled under this agreement shall continue to be paid or provided by the Company. 

5.     General  

	(1)
	Each
of the provisions in this agreement shall be enforceable independently of each of the others and its validity shall not be affected if any of the others is invalid. If any of the
provisions of this agreement is void but would be valid if some part of the clause were deleted, the clause in question shall apply with such modification as may be necessary to make it valid.

	(2)
	The
General Terms and Conditions of Employment (a copy of which are attached to this agreement) as amended by the Remuneration Committee from time to time shall form part of the
Executive's terms and conditions of employment and the definitions and other provisions contained in the interpretation clause in the General Terms and Conditions of Employment shall apply to this
agreement.

	(3)
	The
terms set out in the Schedule in accordance with the requirements of the Employment Rights Act 1996 form part of this agreement.

	(4)
	As
from the effective date of the Employment all other agreements or arrangements between the Executive and any Group Company relating to the employment of the Executive shall cease
to have effect.

	(5)
	This
agreement shall be governed by and construed in accordance with English law. 

AS WITNESS the hands of the Executive and of a duly authorised representative of the Company on the date which appears first on page 1. 

	SIGNED by JOHN BROWNE	 	)
	on behalf of BP p.l.c.	 	)
	in the presence of:	 	)
	
	 	 
	SIGNED by	 	)
	DAVID C ALLEN	 	)
	in the presence of:	 	)

 
 

THE SCHEDULE    
    

The
following constitutes the statement of the particulars of the Executive's employment issued pursuant to the Employment Rights Act 1996. The particulars are those which apply on the date of this
agreement: 

Name of employer—the Company as defined on page 1 above. 

Name of employee—the Executive as defined on page 1 above. 

Date of commencement of employment—see clause 1. 

Date of commencement of continuous period of employment—30 October 1978. 

Scale or rate of remuneration or method of calculating remuneration—see clause 2. 

Intervals at which remuneration is paid—monthly—see clause 2. 

Hours of work—there are no fixed hours of work—see also the General Terms and Conditions of Employment. 

Holidays (including public holidays) and holiday pay—the Executive shall be entitled to 28 Working Days' holiday with pay in every calendar
year. In addition see the General Terms and Conditions of Employment. 

Sickness or injury and sick pay—see the General Terms and Conditions of Employment. 

Pension—see clause 3. A contracting out certificate within the meaning of Part III of the Pension Schemes Act 1993 is in
force. 

Notice—see clause 4. 

Job title—Senior Executive. 

Place of work—the duties of the Employment relate primarily to the United Kingdom. The Executive shall be based at the Group's Headquarters,
which for the time being are at the employer's address as stated on page 1 above. 

Collective agreements—the Company is not a party to any collective agreement which affects the Executive's employment. 

Working overseas—the Executive is not under any obligation to work overseas for periods exceeding one month and accordingly there are no
particulars to be entered in this regard. 

Discipline and grievance procedure—the Executive is subject to the Company's Senior Executive discipline and grievance procedure. 

DATED            JANUARY 2003  

 

BP p.l.c.

and

David Christopher Allen
  

 

SERVICE AGREEMENT  

 

ALLEN & OVERY  

 THE BRITISH PETROLEUM COMPANY p.l.c.

and

EDMUND JOHN PHILIP BROWNE

SERVICE AGREEMENT  

THIS AGREEMENT is made on November 11, 1993 and amended on February 7, 2003 

BETWEEN  

	(1)
	THE BRITISH PETROLEUM COMPANY p.l.c. whose registered office is at Britannic House, 1 Finsbury Circus, London EC2M 7BA (the 'Company');
and

	(2)
	EDMUND JOHN PHILIP BROWNE of 21 South Eaton Place London SW1 (the 'Executive') 

WHEREBY IT IS AGREED as follows:- 

INTERPRETATION

	1.
	In
this Agreement (including the Schedule attached):

	(A)
	
	(i)
	'associated
company' means any company whose equity share capital (as defined in Section 744 of the
Companies Act 1985) is owned as to twenty per cent (20%) or more but less than fifty per cent (50%) by the Company;

	(ii)
	'Board
of Directors' means the Board of Directors of the Company as the same may be constituted from time to time or any committee of the Board of Directors duly appointed by it;

	(iii)
	'Group
Company' means the Company or any company which is from time to time a holding company of the Company or a subsidiary or associated company of the Company or any such holding
company and the expression 'Group Companies' shall be deemed to mean each and every Group Company;

	(iv)
	'holding
company' has the meaning given in Section 736 of the Companies Act 1985;

	(v)
	'subsidiary'
has the meaning given in Section 736 of the Companies Act 1985;

	(B)
	reference
to an Act of Parliament shall be deemed to include any statutory modification or re-enactment whenever made. 

THE EMPLOYMENT  

	2.
	The
Company HEREBY AGREES to employ the Executive and the Executive HEREBY AGREES to serve as a Managing Director pursuant to Article 80(A) of the Company's Articles of
Association and subject to and in accordance with the terms of this Agreement. 

DURATION OF EMPLOYMENT  

	3
	
	(A)
	This
Agreement shall be deemed to have commenced on November 1, 1993 (the 'Commencement
Date') and shall continue, subject as hereinafter provided, until terminated at any time by either the Company giving to the Executive not less than twelve (12) months written notice or the
Executive giving the Company not less than twelve (12)(or such lesser number as the Company and the Executive may agree) months written notice.

	(B)
	This
Agreement shall automatically terminate (if not already terminated) upon the day immediately before the Executive's sixtieth (60th) birthday or such other date as the Company and
the Executive may agree in writing.

	(C)
	This
Agreement shall further be subject to termination pursuant to Clause 10 hereof. 

DUTIES OF THE EXECUTIVE  

	4.
	
	(A)
	Except
as otherwise approved by the Board of Directors, the Executive will devote all his time and
energies to the business of the Company and its subsidiaries and such of the associated companies as the Board of Directors may require. 

	(B)
	The
Executive shall not during the continuance of this Agreement (except as a representative of the Company or with the consent in writing of the Board of Directors) (i) become
a director of any corporate body or (ii) be directly or indirectly engaged or concerned in the conduct of any business, trade, profession or other occupation (whether as an employee,
consultant, agent, director or otherwise) provided that this restriction (ii) shall not prevent the Executive from holding or acquiring by way of bona fide investment, investments whether or
not listed or quoted representing not more than five per cent (5%) of the investments of any class of any one company. If requested to do so, the Executive shall disclose promptly in writing to the
Board of Directors all his interests in any business other than that of the Company or any other Group Company.

	(C)
	The
Executive shall comply with all rules and regulations from time to time issued by the Company to its employees and shall obey all reasonable and lawful directions given to him by
or under the authority of the Board of Directors. The Executive shall use his best endeavours to promote the interest and reputation of Group Companies.

	(D)
	As
and when requested by the Chairman or the Deputy Chairman of the Company the Executive shall keep the Board of Directors promptly and fully informed (in writing if so requested) of
his conduct of the business, finances or affairs of Group Companies.

	(E)
	The
Company may reasonably require the Executive at any time during his engagement to move from one part or section of the Company to another and/or change the location of his
employment. The Company may also from time to time ask the Executive to work for any subsidiary or associated company of the Company and in such cases the terms and conditions of this Agreement will
remain unchanged except for any expatriate allowances and for any other changes which are otherwise agreed between the Executive and the company in question.

	(F)
	The
Executive shall at any time if requested to do so by the Board of Directors undergo a medical examination by a medical practitioner of the Company's choice and at its expense. The
Executive hereby authorizes (such authorization to be deemed to include the consent of the Executive for the purposes of Section 3 of the Access to Medical Reports Act 1988) such medical
practitioner to disclose the results of such examination (whether in a medical report or otherwise) to the Company's medical representative who may then give advice, based upon the results of such
examination, to the Company provided that professional confidence is maintained. 

CONFIDENTIALITY  

	5.
	Without
prejudice to any other confidentiality duties owed to the Company or any other Group Company, the Executive will, during the period of his appointment hereunder and thereafter
without limit in point of time (howsoever the expiry or termination of this Agreement be occasioned), treat as confidential all information relating to:

	(i)
	the
trade secrets and the commercial, technical and financial affairs of the Company, or any other Group Company, and any matter connected therewith; and

	(ii)
	any
person whether or not such person is employed by the Company or any other Group Company where such information is of a confidential personal or business nature. 

to
which the Executive may have access or of which he may become aware as a consequence of his appointment, which information shall, for the period of his appointment and thereafter as aforesaid,
without limit in point of time, not be used by him or disclosed by him to any third party save (A) as is necessary for the proper performance of the duties of his appointment or (B) with
the prior written consent of, or pursuant to guidelines provided by, the Board of Directors or (C) as required by law, provided that such restrictions on use or disclosure shall cease to apply
to information within the public domain otherwise than through unauthorized disclosure by the Executive. 

If
the Executive has any doubts about whether he might be in breach of this Clause 5 he should consult the Chairman or Deputy Chairman of the Company. 

REMUNERATION OF THE EXECUTIVE, BENEFITS AND EXPENSES  

	6.
	
	(A)
	
	(i)
	The
Company shall pay to the Executive during the period of his appointment hereunder a salary at
the rate of three hundred and three thousand pounds ((pound)3O3,OOO) per annum. The salary shall be payable by equal monthly payments in arrears. Salary shall be reviewed during the continuance of
this Agreement at the Board of Directors discretion.

	(ii)
	All
fees (if any) payable to the Executive for services on the Board of Directors of the Company or the board of directors of other companies on which he may be permitted to serve
(whether subsidiaries or associated companies of the Company or not) shall be returned to the Company except that the Executive shall be permitted to retain fees payable in respect of services
rendered as a director of one or more overseas subsidiaries or associated companies of the Company outside the UK and Ireland not exceeding ten per cent (10%) of the Executive's gross UK salary. To
the extent that the Executive does retain such fees, his UK salary will be pro tanto reduced.

	(B)
	The
Company intends to establish incentive bonus arrangements for the Executive in respect of each calendar year during the subsistence of this Agreement but the Executive shall have
no right to participate in any such arrangements (notwithstanding any other verbal or written communication from the Company to the Executive) unless and until the Executive has received written
notice from the Board of Directors to the effect that the Executive will participate in the arrangements that are referred to in the notice and that notice refers to this Clause 6(B). For the
avoidance of doubt any reference in such a notice to incentive bonus arrangements shall mean the incentive bonus arrangements for the calendar year in question and receipt of such a notice shall not
entitle the Executive to participate in incentive bonus arrangements for any other calendar year.

	(C)
	The
Executive is and may remain a member of the BP Pension Scheme subject to and in accordance with the normal terms and conditions of the Scheme (for the time being and from time to
time in force) save for the following. The yearly accrual rate of pension shall from the date of his appointment as, and whilst the Executive is, a Managing Director of the Company be one thirtieth
(1/30th) (and not one sixtieth (1/60th) or one forty fifth (1/45th) as would otherwise be appropriate) together with a proportionate amount for any additional part year (subject always to Inland
Revenue limits and to a maximum pension from the BP Pension Scheme of two thirds (2/3rds) of Final Salary). For the purpose of this sub-Clause 6(C), `Final Salary' is as defined in
the Rules of the BP Pension Scheme.

	(D)
	The
Company shall provide a motor car for the use of the Executive in the United Kingdom. The Company shall bear the cost of maintaining, repairing, insuring, testing and taxing the
same. The Company shall reimburse all reasonable running expenses properly incurred by the Executive in relation to the use of the car in the performance of his duties under this Agreement provided
that the Company shall not reimburse petrol costs related to private motoring. The Executive shall comply with all statements of policy, rules and regulations which the Company may from time to time
issue applying to the provision and use of the motor car.

	(E)
	There
shall be refunded to the Executive all reasonable out of pocket expenses properly incurred and defrayed by him in the performance of his duties under this Agreement including
expenses of entertainment, subsistence and travelling. The Executive shall produce to the Company all supporting vouchers and documents in respect of such expenses.

	(F)
	The
Executive shall conform to such hours of work as may from time to time reasonably be required of him to carry out his duties to the satisfaction of the Board of Directors and
shall not be entitled to receive any additional remuneration for work outside normal business hours. 

ANNUAL LEAVE AND PUBLIC HOLIDAYS  

	7.
	
	(A)
	The
Executive's leave entitlement in any full calendar year will be twenty eight (28) working days on
full salary, of which entitlement the Company will be able to nominate up to three (3) specified days to be taken as leave. If the Executive serves part only of a calendar year, his entitlement
will be in direct proportion to his service in that year, rounding up any fractions to the nearest day.

	(B)
	The
Executive will also be entitled to eight (8) days additional leave per annum which will be either Government declared Public Holidays or days taken in lieu. 

ABSENCE FROM WORK THROUGH SICKNESS  

	8.
	During
any period of absence from work due to sickness or injury and subject to the deductions in respect of Statutory Sick Pay or State Sickness Benefit, the Executive's salary will
be paid in full for a period of six (6) months, followed if necessary by a period of six (6) months of half-payment. These periods of payment may be extended at the
discretion of the Chairman, in consultation with the Company's General Medical Services Unit, taking into account the Executive's expected date of return to work. 

INVENTIONS  

	9.
	Any
invention made by the Executive in the course of his employment as part of his duties belongs to the Company or as the case may be other Group Company. It is the policy of the
Company to encourage employees (including the Executive) to make inventions which are or could be of benefit to the Company and, if the Executive makes an invention directly or indirectly relating to
the business of the Company or any other Group Company, he shall submit particulars to Patents and Agreements Division. 

TERMINATION AND SUSPENSION  

	10.
	
	(A)
	Notwithstanding
any other provision of this Agreement, the Company shall (without prejudice to
the other rights and remedies of the Company or other Group Company) be entitled to terminate this Agreement forthwith by written notice to the Executive if the Executive:

	(i)
	is
found to have committed a serious act or omission such as:

	(a)
	serious
infringement of safety regulations and requirements;

	(b)
	serious
default or misconduct;

	(c)
	serious
damage to Company or other Group Company property;

	(d)
	the
unauthorised disclosure of confidential information relating to the commercial, technical or financial affairs of the Company or any other Group Company or any person whether or
not such a person is employed by the Company or any other Group Company, where this is damaging to the interests of the Company or other Group Company;

	(e)
	a
criminal offence which makes him unsuitable for his type of work;

	(f)
	conduct
prejudicial to the Company or other Group Company or tending to bring the Company or other Group Company or himself into disrepute;

	(g)
	wilful
disregard of Company or other Group Company regulations;

	(h)
	falsification
of information or references in the context of the work environment;

	(i)
	assault
on another person at work;

	(j)
	accepting
bribes; or 

	(ii)
	becomes
of unsound mind, bankrupt or has a receiving order made against him or makes any general composition with his creditors; or

	(iii)
	becomes
prohibited by law from being a director of a company; or

	(iv)
	resigns
as a director of the Company without the consent of the Board of Directors; or

	(v)
	neglects,
refuses, fails or for any reason becomes unable to perform in any material respect any of this duties or obligations under or pursuant to this Agreement 

whereupon
the Executive shall have no claim against the Company for pay in lieu of notice or damages or otherwise by reason of such termination. Any termination of this Agreement will be without
prejudice to the continuing obligations of the Executive under this Agreement. 

	(B)
	Without
prejudice to the Executive's rights to remuneration and other benefits hereunder, the Company shall have the right at any time (whether or not a notice of termination of this
Agreement shall then have been given) to require the Executive not to attend at any place of work or otherwise to suspend the Executive from the performance of any duties under this Agreement provided
that no such action shall be taken without the express prior authorization of the Board of Directors. During the period of such suspension the Company may assign the Executive's titles, powers or
duties to another. 

EVENTS UPON TERMINATION  

	11.
	Upon
the termination of the Agreement howsoever occasioned the Executive shall unless otherwise agreed by the Company:

	(i)
	return
all property, documents and correspondence relating to the affairs of the Company or other Group Company, including books of instruction and reference and identity passes;

	(ii)
	at
any time or from time to time thereafter upon the request of the Company, resign from office as a director of the Company and all other offices held by him in any other Group
Company and should he fail to do so the Company is hereby irrevocably authorized to appoint some person in his name and on his behalf to sign and do any documents or things necessary or desirable to
give effect thereto; and

	(iii)
	the
Company shall be entitled to deduct from any monies due to the Executive any sums due from the Executive to the Company or any other Group Company. 

RESTRICTIONS AFTER TERMINATION OF EMPLOYMENT  

	12.
	
	(A)
	The
Executive hereby agrees with the Company that in addition to the other terms of and
restrictions contained in this Agreement and without prejudice to other restrictions imposed upon him by law, he will not without the prior written consent of the Company for a period of twelve
(12) months commencing with the date of termination of this Agreement, howsoever the termination shall be occasioned, either on his own behalf or for any other person, firm or organization:-

	(i)
	be
directly or indirectly engaged in or concerned with any business which shall be in competition with, in countries in which operations are carried on or interests held by, any of
the upstream, downstream or chemicals businesses of the Company or any other Group Company at the date of termination of this Agreement provided that this provision shall not restrict the Executive
from holding or acquiring by way of bona fide investment only, investments whether or not listed or quoted representing not more than five percent (5%) of the issued investments of any class of any
one company;

	(ii)
	directly
or indirectly solicit or endeavour to entice away from the Company or any Group Company any person who is to his knowledge an employee, director or officer of such Company
at the date of termination of this Agreement. 

	(B)
	While
the restrictions contained in this Clause 12 and elsewhere in this Agreement are considered by the parties to be reasonable in all the circumstances, it is agreed that if
such restrictions taken together shall be adjudged to go beyond what is reasonable in all the circumstances for the protection of the interests of the Company but would be adjudged reasonable if part
or parts of the wording thereof were deleted then the said restrictions shall apply with such words deleted. 

DIRECTORSHIPS  

	13.
	
	(A)
	Without
prejudice to any other rights and obligations of the Executive under this Agreement, the
Executive's appointment as a Managing Director will be determined if he for any reason ceases to be a director of the Company and the Executive undertakes in the event of his appointment as a Managing
Director being terminated to tender his resignation from the Board of Directors.

	(B)
	Notwithstanding
any other provisions in this Agreement the Executive's appointment as a director of the Company or any other Group Company shall be subject to the Articles of
Association from time to time of the relevant company. 

DIRECTORS' AND OFFICERS' LIABILITY INSURANCE  

	14.
	The
Company shall maintain insurance in respect of directors' and officers' liabilities in such manner, for such a period, and on such terms, as may from time to time be determined by
the Board of Directors. 

REORGANISATION  

	15.
	If
the Company shall undergo any process of reconstruction or amalgamation (including an administrative reorganization) whether or not involving the liquidation of the Company and the
Executive shall be offered employment by the successor or proposed successor to the Company or any other Group Company on terms no less favourable overall to those under this Agreement but the
Executive shall have failed to accept such offer within one (1) month, then the Company may terminate this Agreement forthwith. In such event, the Executive shall have no claim for compensation
against the Company in respect of such termination save as provided under the provisions of the Employment Protection (Consolidation) Act 1978. 

STATUTORY PARTICULARS  

	16.
	The
written particulars of employment required to be given to the Executive under the provisions of Part I of the Employment Protection (Consolidation) Act 1978 are, unless
otherwise previously set out above, stated in the Schedule attached (which shall be deemed to form part of this Agreement). 

MISCELLANEOUS  

	17.
	
	(A)
	This
Agreement shall not be assignable by the Executive and may only be modified by the written
agreement of the parties hereto.

	(B)
	The
Company reserves the right to pay compensation in lieu of any notice of termination of appointment which it is required to give under this Agreement.

	(C)
	This
Agreement shall be governed by and interpreted in accordance with the laws of England. 

IN WITNESS whereof this document has been executed as a Deed the day and year first above written. 

	The Common Seal of	 	)
	THE BRITISH PETROLEUM COMPANY p.l.c.	 	)
	was hereunto affixed	 	)
	in accordance with its	 	)
	Articles of Association	 	)
	in the presence of:	 	)
	

Director	 	 
	

Assistant	 	 
	Secretary	 	 

SIGNED AS A DEED
  by the said EDMUND JOHN PHILIP BROWNE in the presence of:- 

Name

Address

Occupation

November 26,
1993 

 
 

SCHEDULE    
    

CONTINUOUS EMPLOYMENT  

	1.
	The
Executive's period of continuous employment with the Company is deemed to have begun on 1st September, 1966. 

PENSIONS  

	2.
	There
is in force a Contracting-out certificate in relation to the Executive's employment. 

DISCIPLINARY RULES AND PROCEDURES  

	3.
	The
Executive will be notified as to the Company's disciplinary rules and procedures from time to time applicable to the Executive. 

GRIEVANCE PROCEDURE  

	4.
	If
the Executive has any grievance relating to his employment he should raise it with the Chairman of the Board of Directors. 

OTHER TERMS  

	5.
	Except
as otherwise stated in the Agreement (including this Schedule) there are no other terms or conditions of employment relating to remuneration, hours of work, normal working
hours, entitlement to holidays (including public holidays and holiday pay), incapacity for work due to sickness or injury or to pensions or pension schemes. 

THIS AGREEMENT is made on            July 2004 

BETWEEN: 

	(1)
	BP p.l.c. (registered number 102498) whose registered office is at 1 St James's Square, London SW1Y 4PD (the
"Company"); and

	(2)
	Iain
Cameron Conn c/o BP p.l.c, 1 St James's Square, London SW1Y 4PD (the "Executive") 

IT IS AGREED as follows: 

1.     Employment  

The
Company shall continue to employ the Executive and the Executive shall assume the position of a Senior Executive of the Company on the terms set out in this agreement (the
"Employment"). The Employment in this position shall take effect from 1 July 2004. 

2.     Salary  

	(1)
	The
Company shall pay to the Executive a salary at the rate of £400,000 per annum.

	(2)
	The
Executive's salary shall be reviewed at the discretion of the Remuneration Committee.

	(3)
	The
Executive's salary shall accrue from day to day and be payable by equal instalments in arrear on the last day of every month. 

3.     Pensions  

The
Executive is entitled to continue to be a member of The BP Pension Scheme (the "Pension Scheme") subject to its terms. The Executive is entitled to
benefits under the Pension Scheme in accordance with the separate arrangements made between the Company and the trustees of the Pension Scheme for the benefit of the Executive and as notified to him
from time to time by the Company. 

4.     Termination of Employment  

	(1)
	The
Company or the Executive may terminate the Employment by giving to the other party at least 12 months' notice in writing expiring at any time.

	(2)
	The
Employment will automatically terminate (if not already terminated) on the day before the Executive's 60th birthday.

	(3)
	The
Company may at any time terminate the Employment with immediate effect by giving notice in writing to the Executive on terms that the Company shall pay to the Executive, in lieu
of the remainder of the term of the Employment or, as the case may be, notice under subclause (1) above, an amount equal to 12 months' salary or the amount of salary that would have been
paid to the Executive if the Employment terminated on the expiry of the remainder of any notice given under subclause (1) above as the case may be provided that the Executive's entitlement to
the payment shall be conditional on him agreeing to comply with his obligations to the Company following the termination of the Employment (which include, but without limiting the generality of the
foregoing his obligations not to use or disclose the Company's or the Group's confidential information under the General Terms and Conditions of Employment).

	(4)
	The
Company may in circumstances where the Remuneration Committee reasonably deems it to be in the Company's best interests elect that in place of a lump sum payment in lieu of notice
under sub-clause (3) above the Company will pay the Executive in lieu of notice in a series of staged payments at the time or times that the Executive would have been paid had he
been employed during the period of notice or remainder of such period given under sub-clause (1) above. 

	(5)
	Subclause
(1) above does not limit the Company's rights to suspend any of the Executive's duties and powers under this agreement or the General Terms and Conditions of
Employment. In addition or alternatively, the Company may during the whole or any part of any period of notice require the Executive to perform duties (including any modified duties arising from an
exercise by the Company of its rights under the General Terms and Conditions of Employment) at such locations as the Company may reasonably require. Throughout any such period of suspension the
Executive's salary and other benefits to which he is entitled under this agreement shall continue to be paid or provided by the Company. 

5.     General  

	(1)
	Each
of the provisions in this agreement shall be enforceable independently of each of the others and its validity shall not be affected if any of the others is invalid. If any of the
provisions of this agreement is void but would be valid if some part of the clause were deleted, the clause in question shall apply with such modification as may be necessary to make it valid.

	(2)
	The
General Terms and Conditions of Employment (a copy of which are attached to this agreement) as amended by the Remuneration Committee from time to time shall form part of the
Executive's terms and conditions of employment and the definitions and other provisions contained in the interpretation clause in the General Terms and Conditions of Employment shall apply to this
agreement.

	(3)
	The
terms set out in the Schedule in accordance with the requirements of the Employment Rights Act 1996 form part of this agreement.

	(4)
	As
from the effective date of the Employment all other agreements or arrangements between the Executive and any Group Company relating to the employment of the Executive shall cease
to have effect.

	(5)
	This
agreement shall be governed by and construed in accordance with English law. 

AS WITNESS the hands of the Executive and of a duly authorised representative of the Company on the date which appears first on page 1. 

	SIGNED by JOHN BROWNE	 	)
	on behalf of BP p.l.c.	 	)
	in the presence of:	 	)
	

SIGNED by	 	)
	IAIN CAMERON CONN	 	)
	in the presence of:	 	)

 
 

THE SCHEDULE    
    

The
following constitutes the statement of the particulars of the Executive's employment issued pursuant to the Employment Rights Act 1996. The particulars are those which apply on the date of this
agreement: 

Name of employer—the Company as defined on page 1 above. 

Name of employee—the Executive as defined on page 1 above. 

Date of commencement of employment—see clause 1. 

Date of commencement of continuous period of employment 6 January 1986. 

Scale or rate of remuneration or method of calculating remuneration—see clause 2. 

Intervals at which remuneration is paid—monthly—see clause 2. 

Hours of work—there are no fixed hours of work—see also the General Terms and Conditions of Employment. 

Holidays (including public holidays) and holiday pay—the Executive shall be entitled to 28 Working Days' holiday with pay in every calendar
year. In addition see the General Terms and Conditions of Employment. 

Sickness or injury and sick pay—see the General Terms and Conditions of Employment. 

Pension—see clause 3. A contracting out certificate within the meaning of Part III of the Pension Schemes Act 1993 is in
force. 

Notice—see clause 4. 

Job title—Senior Executive. 

Place of work—the duties of the Employment relate primarily to the United Kingdom. The Executive shall be based at the Group's Headquarters,
which for the time being are at the employer's address as stated on page 1 above. 

Collective agreements—the Company is not a party to any collective agreement which affects the Executive's employment. 

Working overseas—the Executive is not under any obligation to work overseas for periods exceeding one month and accordingly there are no
particulars to be entered in this regard. 

Discipline and grievance procedure—the Executive is subject to the Company's Senior Executive discipline and grievance procedure. 

DATED            JULY 2004

  

 BP p.l.c.

and

Iain Cameron Conn  

 

SERVICE AGREEMENT
  

DATED August 7, 2000 

BP EXPLORATION (ALASKA) INC.

and

BYRON ELMER GROTE

EMPLOYMENT AGREEMENT  

  
 

    CONTENTS    
    

	CLAUSE
 
	 	PAGE

	1.  Employment	 	1
	2.  Term	 	1
	3.  Salary	 	1
	4.  Termination of Employment	 	1
	5.  Benefits	 	2
	6.  General	 	2

THIS AGREEMENT is made on August 7, 2000 BETWEEN:  

	(1)
	BP EXPLORATION (ALASKA) INC. a Delaware corporation of 900 East Benson Boulevard, Anchorage, Alaska 99508 (the 'Company'); and

	(2)
	BYRON ELMER GROTE of Flat 22, Millers Wharf House, 78 St. Katherine's Way, London E1 9YU (the 'Executive') 

IT IS AGREED as follows: 

1.     EMPLOYMENT

The
Company shall employ the Executive and the Executive shall be employed as a senior executive of the Company on the terms set out in this Agreement (the 'Employment'). 

2.     TERM

The
Employment will take effect from 3rd August, 2000. The period of time during which Executive is employed by the Company under this Agreement will be referred to herein as the 'Term'. 

3.     SALARY

The
Company shall pay to the Executive a salary at the rate of $540,000 per annum (less applicable deductions). 

4.     TERMINATION OF EMPLOYMENT

	4.1
	Unless
previously terminated in accordance with this agreement, the Employment may be terminated at any time by either party giving to the other one year's notice in writing.

	4.2
	The
Company may terminate the Employment for cause with immediate effect.

	4.3
	The
Employment shall in any event terminate automatically on 8th March, 2008.

	4.4
	Nothing
contained herein limits the Company's rights to suspend any of the Executive's duties and powers under this Agreement.

	4.5
	For
the purpose of this agreement 'cause' shall mean that the Executive:

	(i)
	commits
an act constituting a misdemeanour involving moral turpitude or a felony under the laws of the United States or any state or political subdivision thereof;

	(ii)
	commits
an act constituting a breach of fiduciary duty, gross negligence or willful misconduct;

	(iii)
	engages
in conduct that violates the Company's policies or procedures or the standing of the Company or any of its affiliates;

	(iv)
	commits
an act of fraud, dishonesty or misrepresentation that is detrimental to the business, reputation, character of the Company or any of its affiliates;

	(v)
	engages
in a conflict of interest or self-dealing; or

	(vi)
	breaches
his obligations as set forth in this agreement or he fails to perform his duties as an employee of the Company (including as a result of his death or permanent disability
whereby the Executive is unable to perform the essential functions of his job for four (4) consecutive months). 

5.     BENEFITS

The
Executive shall be entitled to participate in such benefit plans as the Company may from time to time provide in respect of him, such participation to be on the terms or subject to the rules or
the Company's policies as may apply to such benefits from time to time. 

6.     GENERAL

	6.1
	Each
of the provisions in this agreement shall be enforceable independently of each of the others and its validity shall not be affected if any of the others is invalid. If any of the
provisions of this agreement is void but would be valid if some part of the clause were deleted, the clause in question shall apply with such modification as may be necessary to make it valid.

	6.2
	During
the Employment the Executive will be bound by the Company's policies and procedures applicable to employees.

	6.3
	This
agreement shall be governed by and construed in accordance with the laws of the State of Delaware.

	6.4
	As
from the effective date of the Employment all other agreements or arrangements between the Executive and the Company or any of its affiliates relating to the employment of the
Executive will cease to have effect. It is acknowledged and agreed that the Company has no liability to make any payments to the Executive other than salary and benefits earned up to the effective
date of the Employment. In particular, it is confirmed and agreed that the Company has no liability to make any payments to the Executive on the termination of his previous service agreements.

	6.5
	This
Agreement contains the entire understanding of the parties and may be modified only in a document signed by the parties and referring explicitly hereto. 

AS WITNESS the hands of the Executive and of a duly authorized representative of the Company on the date which appears first on page 1. 

	SIGNED by	 	)
	BP EXPLORATION (ALASKA) INC.	 	)
	in the presence of	 	)
	
	 	 
	SIGNED by
 BYRON ELMER GROTE
 in the presence of	 	 

Byron
Elmer Grote

Flat 22, Millers Wharf House

78, St Katherine's Way

London E1 9YU 

August 2,
2000

BP
Exploration (Alaska) Inc.

900 East Benson Boulevard

Anchorage

Alaska 99508

USA 

Dear
Sirs, 

I
hereby confirm that as a term of my secondment to BP Amoco plc ('the Company') that I am bound by and will comply with the Company's General Terms and Conditions of Employment on Executive
Expatriate Secondment (a copy of which is attached) during the secondment. 

Yours
sincerely 

 

B.E.
Grote 

Enc.

 
 

GENERAL TERMS AND CONDITIONS
  OF EMPLOYMENT
  ON EXECUTIVE EXPATRIATE SECONDMENTS
  APPLICABLE TO BYRON ELMER GROTE    
    

 
 

TABLE OF CONTENTS    
    

	CLAUSE
 
	 	PAGE

	1.    Interpretation	 	1
	2.    Duties	 	1
	3.    Place of Work of the Secondee	 	2
	4.    Resettlement	 	2
	5.    Incentives	 	3
	6.    Travelling Expenses	 	3
	7.    Car	 	3
	8.    Benefits	 	3
	9.    Vacation	 	3
	10.  Confidential Information	 	3
	11.  Intellectual Property	 	4
	12.  Termination of Secondment	 	5
	13.  General	 	5
	14.  Notices	 	6

 
 

GENERAL TERMS AND CONDITIONS ON EXPATRIATE EXECUTIVE SECONDMENTS    
    

1.     INTERPRETATION

	(1)
	In
these terms and conditions: 

'Secondment'
means the secondment of the Secondee by a Group Company to another Group Company; 

'Secondee'
means Byron Elmer Grote; 

'Company'
means: BP Amoco plc; 

'CEO'
means the group chief executive of the Company and it includes his delegate or delegates where the chief executive officer has delegated his authority to manage the Secondee or the business of
the Group in which the Secondee is performing his duties; 

'Group'
means the Company and its subsidiaries, affiliates, parents and related entities for the time being and 'Group Company' means any one of them; 

'Working
Day' means a day other than a Saturday, Sunday or Company holiday; 

	(2)
	References
in these terms and conditions to a person include a body corporate and an unincorporated association of persons and references to a company include any body corporate.

	(3)
	Any
reference in these terms and conditions to a statutory provision includes any statutory modification or re-enactment of it for the time being in force.

	(4)
	Where
appropriate, references to the Secondee include his personal representatives. 

2.     DUTIES

	(1)
	The
Secondee shall use his best endeavours to promote and protect the interests of the Group and shall not do anything which is harmful to those interests.

	(2)
	The
Secondee shall diligently and faithfully perform such duties and exercise such powers as may from time to time be assigned to or vested in him in relation to the conduct and
management of the affairs of the Group by the CEO. The CEO may also suspend all or any of the Secondee's duties and powers for such periods and on such terms as he considers expedient (including a
term that the Secondee shall not attend at the Company's premises).

	(3)
	The
Secondee shall give to the CEO such information regarding the affairs of the Group as he shall require and shall comply with all proper instructions of the CEO.

	(4)
	The
Secondee shall have the power and the authority to act in accordance with the instructions of and within the limits prescribed by the CEO.

	(5)
	The
Secondee shall comply with all codes of conduct from time to time adopted by the Company and with all applicable laws, rules and regulations applicable to the Company.

	(6)
	The
Secondee shall (unless prevented by sickness, disability or otherwise directed by the CEO) devote the whole of his time during normal business hours to his duties under those
General Terms and Conditions and such additional time as is necessary for the proper fulfilment of those duties.

	(7)
	The
Secondee's salary shall be inclusive of any fees receivable by him as a director of any Group Company and if the Secondee receives any such fees in addition to his salary he shall
pay them to the Company. 

	(8)
	The
Secondee shall not accept any appointment to any office in relation to any body, whether corporate or not, (other than a Group Company) or directly or indirectly be interested in
any manner in any other business except:

	(a)
	as
holder or beneficial owner (for investment purposes only) of any class of securities in a company if those securities are publicly traded on a recognized investment exchange and if
the Secondee (together with his spouse, children, parents and parents' issue) neither holds nor is beneficially interested in more than five per cent, of the securities of that class; or

	(b)
	with
the consent in writing of the Company which may be given subject to any terms or conditions which the Company requires. 

3.     PLACE OF WORK OF THE SECONDEE

The
Secondee's duties shall relate primarily to the United Kingdom but shall extend to travel abroad when required by the Company. 

4.     RESETTLEMENT

	(1)
	The
Secondee shall be entitled to relocation assistance in respect of the costs of moving from his home base to the overseas location at which he has accepted an appointment. The
amount of such assistance shall be determined in accordance with the Company's policies from time to time and shall be subject to the terms of such policies.

	(2)
	Until
the date falling two months after the termination of the Secondment, or the third anniversary of the Seeondee's expatriate appointment (whichever is the sooner) the Secondee
shall be entitled to a resettlement allowance (the 'Resettlement Allowance') of $410,000 per annum. This is in place of the benefits provided by the Group including the Secondee's Foreign Services
Premium, Cost of Living Adjustment, Home Add-Backs Allowance, Housing and Utilities Allowance, Home Leave Travel Allowance and Council Tax Allowance.

	(3)
	The
Resettlement Allowance shall not form part of the Secondee's pensionable salary and shall not be taken into account in determining the Secondee's pension benefits or his rights
under any incentive plan or other benefit in which he participates or to which he is entitled.

	(4)
	In
addition to the Resettlement Allowance the Secondee shall be entitled to the costs of repatriation at the end of his assignment (to be determined in accordance with and subject to
the Company's policies at the time of resettlement), educational assistance, medical benefits and such other benefits as may be notified to him from time to time by the Company. 

5.     INCENTIVES

The
Secondee agrees that his participation in any bonus or incentive arrangements shall be at the Company's sole discretion; that he is subject to the Company's procedures as notified to him from time
to time for setting and assessing any bonus or incentive payments, if any, under any scheme in which he participates. 

6.     TRAVELLIING EXPENSES

The
Company shall reimburse the Secondee (on production of such evidence as it may reasonably require) the amount of all travelling and other expenses properly and reasonably incurred by him in the
discharge of his duties. 

7.     CAR

	(1)
	The
Company shall provide the Secondee with a car appropriate to his status for his use in the performance of his duties and, subject to any restrictions or conditions from time to
time imposed by the Company, the Secondee may use the car for his private purposes.

	(2)
	The
Company shall pay all normal servicing, insurance and running expenses in relation to the car and all fuel expenses incurred by the Secondee in the performance of his duties.

	(3)
	The
Secondee shall take good care of the car and shall observe the terms and conditions of the insurance policy relating to it and the terms of the Company's car policy from time to
time. 

8.     BENEFITS

The
Secondee shall be entitled to participate in such benefit plans as the Company may from time to time notify to him such participation to be on the terms or subject to the rules or the Company's
policies as may apply to such benefits from time to time. 

9.     VACATION

	(1)
	The
Secondee shall take his vacation entitlement at times agreed with the Company.

	(2)
	Any
entitlement to vacation remaining at the end of any calendar year may be carried forward to the next calendar year but no further. The entitlement to vacation (and on termination
of employment to accrued but unused vacation) accrues pro rata throughout each calendar year (disregarding fractions of days). 

10.   CONFIDENTIAL INFORMATION

	(1)
	The
Secondee shall not make use of or divulge to any person, and shall use his best endeavours to prevent the use, publication or disclosure of, any information of a confidential or
secret nature:

	(a)
	concerning
the business of the Company or any Group Company and which comes to his knowledge during the course of or in connection with his employment or his holding any office within
the Group from any source within the Company or any Group Company: or

	(b)
	concerning
the business of any person having dealings with the Company or any Group Company and which is obtained directly or indirectly in circumstances in which the Company or any
Group Company is subject to a duty of confidentiality in relation to that information.

	(2)
	This
clause shall not apply to information which is:

	(a)
	used
or disclosed in the proper performance of the Secondee's duties or with the prior written consent of the Company; or

	(b)
	ordered
to be disclosed by a court of competent jurisdiction or otherwise required to be disclosed by law.

	(3)
	This
clause shall continue to apply after the termination of the Secondment without limit of time.

	(4)
	Each
of the restrictions in each paragraph or subclause above shall be enforceable independently of each of the others and its validity shall not be affected if any of the others is
invalid. If any of those restrictions is void but would be valid if some part of the restriction were deleted, the restriction in question shall apply with such modification as may be necessary to
make it valid. 

11.   INTELLECTUAL PROPERTY

	(1)
	In
this clause 'Intellectual Property Right' means a formula, process, invention, improvement, utility model, trade mark, service mark, business name, copyright, design right, patent,
know-how, trade secret, program, documentation, other copyrightable work and any other intellectual property right of any nature whatsoever throughout the world (whether registered or
unregistered and including all applications and rights to apply for the same) which:

	(a)
	relates
to or is useful in connection with the business or any product or service of a Group Company; and

	(b)
	is
invented, developed, created or acquired by the Secondee (whether alone or jointly with any other person) during the period of his employment with the Group ('the Employment').

	(2)
	Any
Intellectual Property Right that the Secondee creates or works on during the Employment are works made 'for hire' for purposes of copyright laws. Any copyright rights in those
works are owned by the Company, not by the Secondee.

	(3)
	The
Secondee shall promptly communicate in confidence to the Company full particulars of any Intellectual Property Right (whether or not it is vested in the Company pursuant to
subclause (2) above or otherwise) and the Secondee shall not use, disclose to any person or exploit any Intellectual Property Right belonging to the Company without the prior written consent of
the Company.

	(4)
	The
Secondee shall, at the request and expense of the Company, prepare and execute such instruments and do such other acts and things as may be necessary or desirable to enable the
Company or its nominee to obtain the protection of any Intellectual Property Right vested in the Company in such parts of the world as may be specified by the Company or its nominee and to enable the
Company to exploit any Intellectual Property Right vested in the Company to best advantage.

	(5)
	These
obligations of the Secondee regarding Intellectual Property as set forth above shall continue to apply after the termination of the Employment. Each of those obligations is
enforceable independently of each of the others and its validity shall not be affected if any of the others is unenforceable to any extent. 

12.   TERMINATION OF SECONDMENT

	(1)
	If
the Secondee is appointed as a director or officer of the Company or of any Group Company and the Secondee ceases to be a director or officer of the Company or of that Group
Company (for any reason whatsoever) that shall not terminate the Secondment.

	(2)
	The
Secondment shall terminate automatically on the date that the Secondee gives, or is given, notice of termination of employment and shall, in any event, terminate automatically on
8th January 2008.

	(3)
	On
the termination of the Secondment in any way the Secondee shall immediately:

	(a)
	return
the car and its keys to the Company at such place as it shall nominate for the purpose; and

	(b)
	deliver
to the Company's Group Human Resources Department all property in his possession, custody or under his control belonging to any Group Company including (but not limited to)
business cards, credit and charge cards, security and computer passes, original and copy documents or other media on which information is held in his possession relating to the business or affairs of
any Group Company; and

	(c)
	resign
all offices held by him in any Group Company (without prejudice to the rights of any party arising out of the termination of the Secondment). 

	(4)
	The
Secondee hereby authorizes the Company to deduct from any amounts payable by the Company or the Group to the Secondee on the termination of the Secondment any sums due to the
Company or the Group from the Secondee as permitted by law.

	(5)
	With
effect from the date of termination of the Secondment, all the rights and obligations of the parties shall cease except for those which are expressed to continue after that date
and except in relation to any breach of any provision of these terms and conditions or any other agreement between the Company and the Secondee before that date. Termination of the Secondment shall
not prejudice any other rights of the Company. 

13.   GENERAL

	(1)
	These
terms and conditions shall be governed by and construed in accordance with the laws of the United Kingdom.

	(2)
	In
the event of any conflict between these terms and conditions and the provisions of any other agreement between the Secondee and any Group Company, these terms and conditions shall
prevail. 

14.   NOTICES

	(1)
	Any
notice or other document to be served under any agreement between the Company and the Secondee may, in the case of the Company, be delivered by hand or sent by first class mail or
telex or facsimile process to the Company at its registered office for the time being and, in the case of the Secondee, may be delivered to him or sent by first class mail to his usual or last known
place of residence.

	(2)
	Any
such notice or other document shall be deemed to have been served:

	(a)
	if
delivered, at the time of delivery;

	(b)
	if
mail, at 10.00 a.m. on the second Working Day after it was put into the mail; or

	(c)
	if
sent by telex or facsimile process, at the expiration of two hours after the time of dispatch, if dispatched before 3.00 p.m. on any Working Day, and in any other case at
10.00 a.m. on the Working Day following the date of dispatch.

	(3)
	In
proving such service it shall be sufficient to prove that delivery was made or that the envelope containing such notice or other document was properly addressed and posted as a
pre-paid first class letter or that the telex or facsimile message was properly addressed and dispatched as the case may be. 

THIS AGREEMENT is made on August 7, 2000 

BETWEEN: 

	(1)
	BP EXPLORATION (ALASKA) INC. a Delaware corporation of 900 East Benson Boulevard, Anchorage 99508 (the "Company"); and

	(2)
	BP AMOCO p.l.c. an English registered company of 1 Finsbury Circus, London, EC2M 7BA (the "Parent").

WHEREAS the Company has agreed that it will supply to the Parent assistance by seconding its employee BYRON ELMER GROTE (the  "Secondee") to the Company in
accordance with the terms and conditions of this Agreement. 

NOW IT IS HEREBY AGREED AS FOLLOWS: 

1.     TERM

This
agreement shall commence on and with effect from August 3, 2000 and shall continue thereafter subject to termination in accordance with Clause 7 below. 

2.     SECONDMENT

	2.1
	The
Company shall second the Secondee to the Parent in accordance with the terms and conditions of this Agreement (the "Secondment").
The Secondment shall be on a full time basis.

	2.2
	The
Secondee shall be supplied to perform the services that are reasonably required by the Parent.

	2.3
	The
Company shall procure that the Secondee enters into undertakings as to confidentiality and as to compliance with policies corresponding to those normally obtained by the Parent
from its employees and shall procure that the Secondee accepts that he is bound by the Parent's General Terms and Conditions of Employment on Excutive Expatriate Secondments (a copy of which are
attached to this Agreement) during the Secondment. 

3.     OBLIGATIONS OF THE COMPANY

The
Company shall ensure that it performs all obligations and discharges all liabilities which may be imposed on it by law or otherwise in its capacity as employer of the Secondee. 

4.     REPORTING AND STATUS

For
the avoidance of doubt the Secondee shall at all times be and remain an employee of the Company but shall during the course of any secondment pursuant to this Agreement report to and act upon the
instructions of the Chief Executive Officer of the Parent or such person as the Chief Exeuctive Officer shall from time to time nominate. 

5.     INTELLECTUAL PROPERTY RIGHTS

	5.1
	If
at any time during the course of providing services to the Parent the Secondee either alone or jointly discovers or acquires any invention, development improvement process or
design whatsoever or any interests therein which shall relate to or concern the activities of the Parent, the Company shall use reasonable endeavours to procure that the Secondee shall forthwith in
writing communicate full details thereof to the Parent and any such invention made or discovered as aforesaid shall belong to and be the absolute property of the Parent.

	5.2
	The
Company shall assign or cause to be assigned to the Parent all rights of copyright or similar rights in all material made developed written granted or otherwise created by the
Secondee in the course of providing services to the Parent and will hold the same to the order of the Parent absolutely. 

6.     PAYMENT LIABILITY AND INDEMNITY

	6.1
	The
Parent shall reimburse to the Company an amount equal to the costs incurred by the Company in paying the Secondee's salary and providing his other benefits during the course of
the Secondment. These amounts shall be payable by the Parent to the Company monthly in arrears.

	6.2
	The
Company shall have no liability for any loss or damage (whether direct or indirect, physical, economic, consequential or otherwise) howsoever arising from or in connection with
the provision of the Secondee's services to the Parent and the Parent agrees and acknowledges it shall bear full and sole responsbility for supervising the activities of the Secondee during the course
of the Secondment.

	6.3
	The
Parent agrees to to hold the Company fully and effectively indemnified in respect of all and any liabilities which the Company may incur to any third party for claims, losses,
liabilities or damages or loss of profit, savings, goodwill, business trade or other economic loss howsoever arising in connection with the provision of any services to the Parent by the Secondee. 

7.     TERMINATION

	7.1
	Either
party may terminate this Agreement immediately by giving one month's notice in writing to the other or in the event that either party commits a serious breach of this Agreement
or is in persistent breach of any of the terms of this Agreement (and for the purpose of this clause a breach by the Secondee shall be deemed to be a breach by the Company) the other party may
terminate this Agreement without notice.

	7.2
	This
Agreement shall terminate automatically on the date that the Company or the Secondee gives notice to the other to terminate the Secondee's employment with the Company.

	7.3
	This
Agreement shall terminate automatically on January 8, 2008.

	7.4
	On
termination of the Secondment for whatever reason the Secondee shall return to work for the Company and the Parent shall have no liability in respect of his employment and/or the
termination of his employment.

	7.5
	The
parties acknowledge that following termination of his Secondment, the Secondee's obligations of confidentiality to the Parent shall continue to apply. 

8.     MISCELLANEOUS

Any
notice to be served on either of the parties by the other shall be sent by pre-paid first class post or by telex or telefax to the business address of the party to whom it is sent and
shall be deemed to have been received by the addressee within 48 hours of posting or 2 hours if sent by telex or telefax to the correct telex or telefax number (with correct answer back
in the case of telex) of the addressee. Notification of intended despatch of any telefax shall be given by telephone to the addressee prior to despatch of any notice by telefax. 

9.     PROPER LAW & JURISDICTION

	9.1
	This
Agreement is governed by and shall be construed in accordance with the laws of England.

	9.2
	The
parties to this Agreement submit to the exclusive jurisdiction of the English courts. 

IN WITNESS WHEREOF this Agreement has been executed by the parties hereto and is hereby delivered on the date first above written. 

	SIGNED by	 	)
	for and on behalf of	 	)
	BP EXPLORATION (ALASKA) INC.	 	)
	in the presence of:	 	)
		 	 
	SIGNED by	 	)
	for and on behalf of	 	)
	BP AMOCO P.L.C.	 	)
	in the presence of:	 	)

THIS AGREEMENT is made on            January 2003 

BETWEEN: 

	(1)
	BP p.l.c. (registered number 102498) whose registered office is at 1 St James's Square, London SW1Y 4PD (the
"Company"); and

	(2)
	Anthony Bryan Hayward c/o BP p.l.c., 1 St James's Square, London SW1Y 4PD (the
"Executive") 

IT IS AGREED as follows: 

1.     EMPLOYMENT  

The
Company shall continue to employ the Executive and the Executive shall assume the position of a Senior Executive of the Company on the terms set out in this agreement (the
"Employment"). The Employment in this position shall take effect from 1 February 2003. 

2.     SALARY  

	(1)
	The
Company shall pay to the Executive a salary at the rate of £400,000 per annum.

	(2)
	The
Executive's salary shall be reviewed at the discretion of the Remuneration Committee.

	(3)
	The
Executive's salary shall accrue from day to day and be payable by equal instalments in arrear on the last day of every month. 

3.     PENSIONS  

The
Executive is entitled to continue to be a member of The BP Pension Scheme (the "Pension Scheme") subject to its terms. The Executive is entitled to
benefits under the Pension Scheme in accordance with the separate arrangements made between the Company and the trustees of the Pension Scheme for the benefit of the Executive and as notified to him
from time to time by the Company. 

4.     TERMINATION OF EMPLOYMENT  

	(1)
	The
Company or the Executive may terminate the Employment by giving to the other party at least 12 months' notice in writing expiring at any time.

	(2)
	The
Employment will automatically terminate (if not already terminated) on the day before the Executive's 60th birthday.

	(3)
	The
Company may at any time terminate the Employment with immediate effect by giving notice in writing to the Executive on terms that the Company shall pay to the Executive, in lieu
of the remainder of the term of the Employment or, as the case may be, notice under subclause (1) above, an amount equal to 12 months' salary or the amount of salary that would have been
paid to the Executive if the Employment terminated on the expiry of the remainder of any notice given under subclause (1) above as the case may be provided that the Executive's entitlement to
the payment shall be conditional on him agreeing to comply with his obligations to the Company following the termination of the Employment (which include, but without limiting the generality of the
foregoing his obligations not to use or disclose the Company's or the Group's confidential information under the General Terms and Conditions of Employment).

	(4)
	The
Company may in circumstances where the Remuneration Committee reasonably deems it to be in the Company's best interests elect that in place of a lump sum payment in lieu of notice
under sub-clause (3) above the Company will pay the Executive in lieu of notice in a series of staged payments at the time or times that the Executive would have been paid had he
been employed during the period of notice or remainder of such period given under sub-clause (1) above. 

	(5)
	Subclause
(1) above does not limit the Company's rights to suspend any of the Executive's duties and powers under this agreement or the General Terms and Conditions of
Employment. In addition or alternatively, the Company may during the whole or any part of any period of notice require the Executive to perform duties (including any modified duties arising from an
exercise by the Company of its rights under the General Terms and Conditions of Employment) at such locations as the Company may reasonably require. Throughout any such period of suspension the
Executive's salary and other benefits to which he is entitled under this agreement shall continue to be paid or provided by the Company. 

5.     GENERAL  

	(1)
	Each
of the provisions in this agreement shall be enforceable independently of each of the others and its validity shall not be affected if any of the others is invalid. If any of the
provisions of this agreement is void but would be valid if some part of the clause were deleted, the clause in question shall apply with such modification as may be necessary to make it valid.

	(2)
	The
General Terms and Conditions of Employment (a copy of which are attached to this agreement) as amended by the Remuneration Committee from time to time shall form part of the
Executive's terms and conditions of employment and the definitions and other provisions contained in the interpretation clause in the General Terms and Conditions of Employment shall apply to this
agreement.

	(3)
	The
terms set out in the Schedule in accordance with the requirements of the Employment Rights Act 1996 form part of this agreement.

	(4)
	As
from the effective date of the Employment all other agreements or arrangements between the Executive and any Group Company relating to the employment of the Executive shall cease
to have effect.

	(5)
	This
agreement shall be governed by and construed in accordance with English law. 

AS WITNESS the hands of the Executive and of a duly authorised representative of the Company on the date which appears first on page 1. 

	SIGNED by JOHN BROWNE	 	)
	on behalf of BP p.l.c.	 	)
	in the presence of:	 	)
	

	 	 
	SIGNED by	 	)
	ANTHONY B HAYWARD	 	)
	in the presence of:	 	)

 
 

THE SCHEDULE    
    

The
following constitutes the statement of the particulars of the Executive's employment issued pursuant to the Employment Rights Act 1996. The particulars are those which apply on the date of this
agreement: 

Name of employer—the Company as defined on page 1 above. 

Name of employee—the Executive as defined on page 1 above. 

Date of commencement of employment—see clause 1. 

Date of commencement of continuous period of employment—25 January 1982. 

Scale or rate of remuneration or method of calculating remuneration—see clause 2. 

Intervals at which remuneration is paid—monthly—see clause 2. 

Hours of work—there are no fixed hours of work—see also the General Terms and Conditions of Employment. 

Holidays (including public holidays) and holiday pay—the Executive shall be entitled to 28 Working Days' holiday with pay in every calendar
year. In addition see the General Terms and Conditions of Employment. 

Sickness or injury and sick pay—see the General Terms and Conditions of Employment. 

Pension—see clause 3. A contracting out certificate within the meaning of Part III of the Pension Schemes Act 1993 is in
force. 

Notice—see clause 4. 

        Job title—Senior Executive. 

Place of work—the duties of the Employment relate primarily to the United Kingdom. The Executive shall be based at the Group's Headquarters,
which for the time being are at the employer's address as stated on page 1 above. 

Collective agreements—the Company is not a party to any collective agreement which affects the Executive's employment. 

Working overseas—the Executive is not under any obligation to work overseas for periods exceeding one month and accordingly there are no
particulars to be entered in this regard. 

Discipline and grievance procedure—the Executive is subject to the Company's Senior Executive discipline and grievance procedure. 

DATED            JANUARY 2003

  

 BP p.l.c.

and

Anthony Bryan Hayward

  

 

SERVICE AGREEMENT  

 ALLEN & OVERY  

THIS AGREEMENT is made on    January 2003 

BETWEEN: 

	(1)
	BP p.l.c. (registered number 102498) whose registered office is at 1 St James's Square, London SW1Y 4PD (the
"Company"); and

	(2)
	John Alexander Manzoni c/o BP p.l.c., 1 St James's Square, London SW1Y 4PD (the
"Executive") 

IT IS AGREED as follows: 

1.     EMPLOYMENT  

The
Company shall continue to employ the Executive and the Executive shall assume the position of a Senior Executive of the Company on the terms set out in this agreement (the
"Employment"). The Employment in this position shall take effect from 1 February 2003. 

2.     SALARY  

	(1)
	The
Company shall pay to the Executive a salary at the rate of £400,000 per annum.

	(2)
	The
Executive's salary shall be reviewed at the discretion of the Remuneration Committee.

	(3)
	The
Executive's salary shall accrue from day to day and be payable by equal instalments in arrear on the last day of every month. 

3.     PENSIONS  

The
Executive is entitled to continue to be a member of The BP Pension Scheme (the "Pension Scheme") subject to its terms. The Executive is entitled to
benefits under the Pension Scheme in accordance with the separate arrangements made between the Company and the trustees of the Pension Scheme for the benefit of the Executive and as notified to him
from time to time by the Company. 

4.     TERMINATION OF EMPLOYMENT  

	(1)
	The
Company or the Executive may terminate the Employment by giving to the other party at least 12 months' notice in writing expiring at any time.

	(2)
	The
Employment will automatically terminate (if not already terminated) on the day before the Executive's 60th birthday.

	(3)
	The
Company may at any time terminate the Employment with immediate effect by giving notice in writing to the Executive on terms that the Company shall pay to the Executive, in lieu
of the remainder of the term of the Employment or, as the case may be, notice under subclause (1) above, an amount equal to 12 months' salary or the amount of salary that would have been
paid to the Executive if the Employment terminated on the expiry of the remainder of any notice given under subclause (1) above as the case may be provided that the Executive's entitlement to
the payment shall be conditional on him agreeing to comply with his obligations to the Company following the termination of the Employment (which include, but without limiting the generality of the
foregoing his obligations not to use or disclose the Company's or the Group's confidential information under the General Terms and Conditions of Employment).

	(4)
	The
Company may in circumstances where the Remuneration Committee reasonably deems it to be in the Company's best interests elect that in place of a lump sum payment in lieu of notice
under sub-clause (3) above the Company will pay the Executive in lieu of notice in a series of staged payments at the time or times that the Executive would have been paid had he
been employed during the period of notice or remainder of such period given under sub-clause (1) above. 

	(5)
	Subclause
(1) above does not limit the Company's rights to suspend any of the Executive's duties and powers under this agreement or the General Terms and Conditions of
Employment. In addition or alternatively, the Company may during the whole or any part of any period of notice require the Executive to perform duties (including any modified duties arising from an
exercise by the Company of its rights under the General Terms and Conditions of Employment) at such locations as the Company may reasonably require. Throughout any such period of suspension the
Executive's salary and other benefits to which he is entitled under this agreement shall continue to be paid or provided by the Company. 

5.     GENERAL  

	(1)
	Each
of the provisions in this agreement shall be enforceable independently of each of the others and its validity shall not be affected if any of the others is invalid. If any of the
provisions of this agreement is void but would be valid if some part of the clause were deleted, the clause in question shall apply with such modification as may be necessary to make it valid.

	(2)
	The
General Terms and Conditions of Employment (a copy of which are attached to this agreement) as amended by the Remuneration Committee from time to time shall form part of the
Executive's terms and conditions of employment and the definitions and other provisions contained in the interpretation clause in the General Terms and Conditions of Employment shall apply to this
agreement.

	(3)
	The
terms set out in the Schedule in accordance with the requirements of the Employment Rights Act 1996 form part of this agreement.

	(4)
	As
from the effective date of the Employment all other agreements or arrangements between the Executive and any Group Company relating to the employment of the Executive shall cease
to have effect.

	(5)
	This
agreement shall be governed by and construed in accordance with English law. 

AS WITNESS the hands of the Executive and of a duly authorised representative of the Company on the date which appears first on page 1. 

	SIGNED by JOHN BROWNE	 	)
	on behalf of BP p.l.c.	 	)
	in the presence of:	 	)
	

	 	 
	SIGNED by	 	)
	JOHN A MANZONI	 	)
	in the presence of:	 	)

 
 

THE SCHEDULE    
    

The
following constitutes the statement of the particulars of the Executive's employment issued pursuant to the Employment Rights Act 1996. The particulars are those which apply on the date of this
agreement: 

Name of employer—the Company as defined on page 1 above. 

Name of employee—the Executive as defined on page 1 above. 

Date of commencement of employment—see clause 1. 

Date of commencement of continuous period of employment—10 October 1983. 

Scale or rate of remuneration or method of calculating remuneration—see clause 2. 

Intervals at which remuneration is paid—monthly—see clause 2. 

Hours of work—there are no fixed hours of work—see also the General Terms and Conditions of Employment. 

Holidays (including public holidays) and holiday pay—the Executive shall be entitled to 28 Working Days' holiday with pay in every calendar
year. In addition see the General Terms and Conditions of Employment. 

Sickness or injury and sick pay—see the General Terms and Conditions of Employment. 

Pension—see clause 3. A contracting out certificate within the meaning of Part III of the Pension Schemes Act 1993 is in
force. 

Notice—see clause 4. 

Job title—Senior Executive. 

Place of work—the duties of the Employment relate primarily to the United Kingdom. The Executive shall be based at the Group's Headquarters,
which for the time being are at the employer's address as stated on page 1 above. 

Collective agreements—the Company is not a party to any collective agreement which affects the Executive's employment. 

Working overseas—the Executive is not under any obligation to work overseas for periods exceeding one month and accordingly there are no
particulars to be entered in this regard. 

Discipline and grievance procedure—the Executive is subject to the Company's Senior Executive discipline and grievance procedure. 

DATED            JANUARY 2003

  

 BP p.l.c.

and

John Alexander Manzoni

  

 

SERVICE AGREEMENT  

 ALLEN & OVERY  

QuickLinks

Exhibit 4.2

DIRECTORS' SERVICE CONTRACTS

THE SCHEDULE

SCHEDULE

THE SCHEDULE

CONTENTS

GENERAL TERMS AND CONDITIONS OF EMPLOYMENT ON EXECUTIVE EXPATRIATE SECONDMENTS APPLICABLE TO BYRON ELMER GROTE

TABLE OF CONTENTS

GENERAL TERMS AND CONDITIONS ON EXPATRIATE EXECUTIVE SECONDMENTS

THE SCHEDULE

THE SCHEDULE

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