Occidental Petroleum 2005 Annual Report Download - page 114

DCP Deferral Amount. “DCP Deferral Amount” means an amount of a Participant’s Base Salary and/or Bonus that is
deferred under the Plan.
Declared Rate. “Declared Rate” with respect to any Plan Year means the rate at which interest will be credited on Deferral
Accounts for such Plan Year. The Declared Rate for each Plan Year shall be equal to the greater of (i) (A) plus (B) where (A) is the Moody’s
Long-Term Corporate Bond Index Monthly Average Corporates as published by Moody’s Investor Services, Inc. (or successor thereto) for the
month of July in the year prior to the Plan Year in question, and (B) is 3% (“Moody’s Plus Three”), or (ii) the highest yield on any unsecured
debt or preferred stock of the Company that was outstanding on the last day of July in the year prior to the Plan Year in question. The
Declared Rate will be announced on or before January 1 of the applicable Plan Year.
Deferral Account(s). “Deferral Account(s)” means a Participant’s DCP Deferral Account and/or Savings Plan Restoration
Account (if any) maintained on the books of account of the Company for each Participant pursuant to Article IV.
Deferral Election Form. “Deferral Election Form” means a paper or electronic election form provided by the Committee on
which an Eligible Employee may elect to defer Base Salary and/or Bonus and may elect to receive an Early Payment Benefit in accordance
with Article IV.
Disability. “Disability” means a condition under which a Participant either (i) is unable to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to
last for a continuous period of not less than 12 months, or (ii) is, by reason of any medically determinable physical or mental impairment
which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income
replacement benefits and has received such payments for a period of at least three (3) months under the Company’s disability plan.
Disability Benefit. “Disability 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 due to a Disability.
Distribution Election Form. “Distribution Election Form” means a paper or electronic election form provided by the
Committee on which a Participant may elect the form of payment of his Retirement Benefits and/or the form of payment of Beneficiary
Benefits to his Beneficiary in accordance with Article V.
Divorce Order. “Divorce Order” means any judgment, decree, or order (including judicial approval of a property settlement
agreement) that relates to the settlement of marital property rights between a Participant and his former spouse pursuant to state domestic
relations law (including, without limitation and if applicable, community property law).
Early Payment Benefit. “Early Payment Benefit” means the payment to a Participant of part or all of the Participant’s DCP
Deferral Account in an Early Payment Year
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