Evans, who retired from the post of chairman in 2004, continued to sit as a member of the Saudi Arabia advisory board until the end of last month. He was paid £246,954 last year.
He held the chairman’s role when BAE signed the controversial £40bn al-Yamamah contract to supply military equipment to Saudi Arabia.
The news comes just one month after BAE agreed a $400m (£266m) settlement with the UK Serious Fraud Office and the US Department of Justice.
BAE chairman Dick Olver said: “The company very much regrets and accepts full responsibility for these shortcomings.”