OXY » Topics » DEFINITIONS

This excerpt taken from the OXY 10-K filed Feb 22, 2008.

DEFINITIONS

1.         Section 1.2(b) of the SRPII is amended by adding the following new paragraph at the end thereof:

Notwithstanding the foregoing or anything in the Plan to the contrary, no provision of the Plan (including, without limitation, the permitted acceleration provisions of Section 5.3(a)-(c)), or provision of an amendment to the Plan, that (A) represents a material enhancement of the benefits or rights available under the Occidental Petroleum Corporation Supplemental Retirement Plan (the “Supplemental Retirement Plan”), or (B) adds a new material benefit or right that did not exist under the Supplemental Retirement Plan shall apply with respect to the Plan benefit of any Participant listed on Exhibit A hereto.

2.         Section 5.1(b) of the SRPII is amended by adding the following new paragraph (3) at the end thereof:

(3)

No Participant listed on Exhibit B hereto shall be entitled to a distribution of benefits under this Plan prior to the payment date specified in Exhibit B, except in the event of such Participant’s death.

3.

Section 5.2(e) of the SRPII is amended by adding the following new paragraph (4) at the end thereof:

(4)

In the case of a payment to a Participant listed on Exhibit B on the payment date specified in Exhibit B, (A) the change in election must be made at least 12 months prior to such specified payment date and (B) the first payment under the changed election must result in a deferral for a period of at least 5 years from such specified payment date.

4.

The SRPII is amended by adding an Exhibit A thereto to read as follows:

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