Occidental Petroleum 2005 Annual Report Download - page 115

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beginning prior to the Participant’s Retirement or other termination of employment pursuant to Section 5.3.
Early Payment Year. “Early Payment Year” means any year prior to a Participant’s Retirement or other termination of
employment that a Participant elects pursuant to Section 4.1(b) to have an Early Payment Benefit paid or commenced to be paid.
Early Payment Year Subaccount. “Early Payment Year Subaccount” means any subaccount of a Participant’s DCP Deferral
Account established to separately account for deferred Base Salary and/or Bonus (and interest credited thereto) that is subject to an Early
Payment Benefit election.
Eligible Employee. “Eligible Employee” means each key management employee or other highly compensated employee of
the Company who is selected by Company Management to participate in the Plan.
Emergency Benefit. “Emergency Benefit” means the payment to a Participant of part or all of his Deferral Accounts in the
event that the Participant has an Unforeseeable Emergency pursuant to Section 5.4.
Fractional Method. “Fractional Method” means an installment method of paying a Participant’s Retirement Benefit under
which the Company will determine the amount of each annual installment by dividing the value of the Participant’s Deferral Accounts as of
the end of the month preceding the payment date by the number of annual installments remaining to be paid.
Participant. “Participant” means (i) 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 (ii) any person who has a Deferral
Account by reason of his prior status as an Eligible Employee. Under no circumstances shall “Participant” mean any Alternate Payee.
Performance Award Cash Deferral. “Performance Award Cash Deferral” means that portion of any Qualifying Performance
Stock Award that is automatically deferred under this Plan as provided in Section 4.1(c) of this Plan.
Plan Year. “Plan Year” means the calendar year beginning on January 1 and ending on December 31.
Prior Plan. “Prior Plan” means the Occidental Petroleum Corporation Deferred Compensation Plan restated as of
January 1, 2003 and as it may be amended from time to time.
Qualified Divorce Order. “Qualified Divorce Order” means a Divorce Order that (a) creates or recognizes the existence of an
Alternate Payee’s right to, or assigns to an Alternate Payee the right to, receive all or a portion of the benefits payable to a Participant under
this Plan; (b) clearly specifies (i) the name and the last known mailing address of the Participant and the name and mailing address of the
Alternate Payee covered by the order, (ii) the amount or percentage of the Participant’s benefits to be paid by this Plan to the Alternate Payee,
or the manner in which such
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