Occidental Petroleum 2002 Annual Report Download - page 129

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Participant. "Participant" means (i) each individual who, as of
December 31, 1998, was a participant in the 1988 DCP or the SEDCP and has not
received a complete distribution of the benefits accrued under those plans, (ii)
an Eligible Employee who has filed a completed and fully executed Deferral
Election Form with the Committee and is participating in the Plan in accordance
with the provisions of Article IV or (iii) any person who has a Deferral Account
by reason of his prior status as an Eligible Employee.
Plan Year. "Plan Year" means the calendar year beginning on January 1
and ending on December 31.
Retirement. "Retirement" means: (i) the termination of a Participant's
employment with the Company for reasons other than Disability or death after the
Participant attains age 65, (ii) the termination of a Participant's employment
with the Company for reasons other than Disability or death after the
Participant attains age 55 and completes five (5) Years of Service or (iii)
effective January 1, 2001, the Participant's attainment of age 55 following the
Participant's termination of employment with the Company for reasons other than
Disability or death prior to attainment of age 55 if the Participant qualifies
for retiree medical coverage under the Occidental Petroleum Corporation Medical
Plan on the date of the Participant's termination of employment.
Retirement Benefit. "Retirement Benefit" means the payment to a
Participant of the value of the Participant's Deferral Accounts pursuant to
Section 5.1 following Retirement.
Retirement Plan. "Retirement Plan" means the Occidental Petroleum
Corporation Retirement Plan, as amended from time to time.
Savings Plan. "Savings Plan" means the Occidental Petroleum
Corporation Savings Plan, as amended from time to time.
4
Savings Plan Restoration Account. "Savings Plan Restoration Account"
means the account maintained on the books of account of the Company to reflect
Savings Plan Restoration Contributions made by the Company pursuant to Section
4.6.
Savings Plan Restoration Contribution. "Savings Plan Restoration
Contribution" means the amount credited to a Participant's Savings Plan
Restoration Account pursuant to Section 4.6.
SEDCP. "SEDCP" means the Occidental Petroleum Corporation Senior
Executive Deferred Compensation Plan under which certain Company executives
deferred compensation.
SEDCP Deferral Account. "SEDCP Deferral Account" means the account
maintained on the books of account of the Company for certain Participants
pursuant to Article IV to account for amounts deferred under the SEDCP.
Termination Benefit. "Termination Benefit" means the payment to a
Participant of the value of the Participant's Deferral Accounts pursuant to
Section 5.1 on account of the Participant's termination of employment other than
due to Retirement, Disability or death.
Termination Event. "Termination Event" means any of the following:
(a) Approval by the stockholders of the Company (or, if no
stockholder approval is required, by the Board) of the dissolution or
liquidation of the Company, other than in the context of a transaction that
does not constitute a Termination Event under clause (b) below;
(b) Consummation of a merger, consolidation, or other