In general, your employee and company matching contributions to the plan will continue while you are still receiving a regular paycheck from the company. Specifically:

If you are on a paid leave of absence, your contributions will continue during your leave. You may change or stop your contributions at any time by contacting BP Retirement Services at Fidelity at 1-877-272-3334.
If you are on an unpaid leave of absence (including a medical/long-term disability leave), your contributions will stop until you return.
If you are on a military leave, upon your return you may make up any missed contributions. You will receive any company matching contributions you would have received while you were on qualified military leave, reduced by any company matching contributions you did receive during that time. Contact BP Retirement Services at Fidelity for more information about eligibility for qualified military leaves of absence and make-up contributions.

You die

If you die while employed by BP, your beneficiary obtains the right to your total plan account balance — including employer company matching contributions — even if you were not already vested.

If you die, BP Retirement Services at Fidelity should be notified as soon as possible.

As long as your account balance exceeds $5,000, your beneficiary can either:

Leave the account balance in the plan until the end of the fifth calendar year following your date of death.
Take an immediate lump sum distribution.

Installment or partial distributions are not permitted.

Your beneficiary may elect to:

Make exchanges among investment options.
Pay off any outstanding loan in full to avoid having it treated as a defaulted loan.
Have all or part of any portion of your account that is invested in the BP Stock Fund distributed in kind as BP ADSs rather than in cash.
Directly roll over your account balance to a tax-qualified plan or an IRA (for a surviving spouse beneficiary). A non-spouse beneficiary may elect a direct trustee-to-trustee rollover to an IRA. Special rules apply; consult your tax advisor.

Other than the elections above, your beneficiary has no other rights or options under the plan. For example, he/she may not take a loan or choose to delay payment of benefits beyond the five-year window. If no distribution election is received by the end of the five-year period, a lump sum payment will automatically be made to your beneficiary.

Additional rights for beneficiaries of BP heritage participants* who died before April 7, 2000

Any beneficiary of a BP heritage participant who died before April 7, 2000, has the same rights to remain in the plan as under the terms of the BP America Capital Accumulation Plan. In this case, the beneficiary has the same distribution and deferral options as any other BP heritage participant. For more information on these rights, contact BP Retirement Services at Fidelity.

* A BP Heritage participant is a participant or former participant in the BP America Capital Accumulation Plan on April 6, 2000.

You are rehired

If you leave the company and are later rehired as an eligible employee, you will be automatically enrolled at 7% on a before-tax basis as soon as administratively possible starting with your first paycheck on or after your 30th day of employment. If you do not want to participate, you can change your contribution rate to 0% within the first 30 days of your employment, or you can adjust your contribution rate to any whole percentage between 1% and 80%, as appropriate for you. Unless you choose a different investment option, your savings plan account will be invested in the Target Date Fund (TDF) nearest to your retirement date (assumed to be age 65). To enroll online or by phone, contact BP Retirement Services at Fidelity at 1-877-272-3334.

However, some special rules apply for calculating your vesting service after you have been rehired. If all or a part of your company matching contributions were previously forfeited because you left the company before you were fully vested, in some cases the forfeited amount may be restored to your account.

Calculating your service after rehire

In general:

If you were 100% vested in your account when you left, you’ll be 100% vested after your return, regardless of your service.
If you were at least partially vested in your account when you left, all of your prior service will be recognized by the plan for vesting purposes, regardless of how long you were gone.
If you were not vested in your account when you left, the treatment of your prior service depends on how long you were away from BP.
If your absence from employment was less than one year, there is no break in service and the time you were absent will be recognized by the plan for vesting purposes.
If your break in service was at least one year but less than seven years, all of your prior years of service will be counted toward vesting in your company matching contributions after you return to the company.
If your break in service was seven years or more, none of your prior service will be counted for vesting purposes and you will begin earning vesting service again on your rehire date.

Special provisions for BP heritage participants

If you are a BP heritage participant who left the company before April 7, 2000, were rehired after that date and your absence was less than seven years, the forfeited amount restored to you depends on whether you took a complete distribution of your company matching contributions when you left:

If you did not take a distribution:
- Your account will be adjusted as if it had been invested in the Income Fund since the date of forfeiture.

Upon your rehire, your company matching contributions will be invested according to your new investment election for employee contributions.

If you took a distribution:
- You must repay the full amount of that distribution in cash before the forfeited amounts are restored.
- You must make this repayment within five years of your rehire date.
- The amount restored will be the amount that was originally forfeited, without any adjustment for investment gains or losses since the date of forfeiture.

Amounts previously forfeited after an absence of seven or more years won’t be restored.

Restoring forfeitures

If all or a part of your company matching contribution source was previously forfeited because you left the company before you were fully vested, in some cases the forfeited amount may be restored to your account. In general, if you’re rehired and had previously forfeited all or a portion of your company matching contributions, your previously forfeited amounts will be restored to your plan account if your absence was less than seven years.

The amount restored will be the amount that was originally forfeited, without any adjustment for investment gains or losses since the date of forfeiture.

You are no longer eligible due to a transfer

If you are no longer eligible to participate in the plan due to a transfer to a related BP company, you will no longer be eligible to contribute to the plan.

Your service after the transfer will continue to count toward vesting service if you are not already 100% vested.

If you are currently a participant in the BP Employee Savings Plan and become eligible for a different savings plan administered by BP Retirement Services at Fidelity at 1-877-272-3334, you will automatically become a participant in that plan.

Your current account balance will remain in the BP Employee Savings Plan, unless you choose to transfer it to your new plan. You may arrange to have your BP Employee Savings Plan account balance transferred to your new plan by contacting BP Retirement Services at Fidelity.

Your account will be transferred to the same investment options and contribution sources in your new plan, if available. If your investment elections cannot be transferred to your new plan, your new employee contribution will be invested in the plan’s default investment option at the time the contributions are made in your new plan.

You take a military leave of absence

If you are on a military leave, upon your return you may make up any missed contributions. You will receive the full company match you would have received while you were on a qualified military leave, reduced by any match you did receive during that time.

The company match resumes automatically for current contributions. From the date of reemployment, you have the lesser of five years or three times the period of military service to repay the missed contributions. You will receive a letter with more details when you return from military leave.

If you are on a military leave, you will earn vesting service credit for your entire absence from work, as long as you return to work within the time period prescribed by law.

If you were called to active duty for more than 30 days, you may be eligible to elect a distribution of all or part of your vested account. A 10% early withdrawal penalty will apply if you are younger than 59½ and you will not be permitted to make contributions to the plan for six months after the distribution.

The Plan Administrator may ask you to show that you have been engaged in military service.

If you die or become disabled while on a military leave of absence

If you die or become disabled (as determined under the long-term disability plan) while on a military leave, you will receive a company match determined on the basis of your contributions made during the 12 months prior to the beginning of your military leave.

If you die while on a military leave, you will become 100% vested in your account. If you become disabled while on a military leave, you will receive vesting service credit for the time you were on a military leave prior to becoming disabled.

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