Occidental Petroleum 2005 Annual Report Download - page 121

4.3 Interest. Each Deferral Account of a Participant shall be deemed to bear interest on the monthly balance of such Deferral
Account at the Declared Rate for each Plan Year, compounded monthly. Interest will be credited to each Deferral Account on a monthly basis
on the last day of each month as long as any amount remains credited to such Deferral Account. Amounts of deferred Compensation that are
credited to a DCP Deferral Account and amounts of Savings Plan Restoration Contributions that are credited to a Savings Plan Restoration
Account prior to the end of a calendar month shall accrue interest from the date of crediting, computed on the basis of a 30-day month based
on days elapsed from date of crediting to the end of the month.
4.4 Valuation of Deferral Accounts. The value of a Deferral Account as of any date shall equal the amounts previously credited to
such Deferral Account less any payments debited to such Deferral Account plus the interest deemed to be earned on such Deferral Account in
accordance with Section 4.3 through the end of the preceding month.
4.5 Savings Plan Restoration Contribution.
(a) General Rule. For each Plan Year, the Company shall credit to the Savings Plan Restoration Account of any
Participant, an amount equal to the amount by which the contribution that would otherwise have been made by the Company on behalf of
the Participant to the Savings Plan for such Plan Year is reduced by reason of the reduction in the Participant’s Base Salary for such Plan
Year because of deferrals under this Plan. The Savings Plan Restoration Contribution shall be credited to the Savings Plan Restoration
Account of each Participant for each Plan Year at the same time as the Company contribution for such Plan Year is made to the Savings
Plan. A Participant’s interest in any credit to his Savings Plan Restoration Account and earnings thereon shall vest at the same rate and at
the same time as would have been the case had such contribution been made to the Savings Plan. Notwithstanding anything contained
herein to the contrary, if, upon a Participant’s termination of employment, the Participant has not or does not become 100% vested in his
Savings Plan Restoration Account, the unvested portion of his Savings Plan Restoration Account shall be forfeited prior to the determination
of the amount of any benefits under Sections 5.1, 5.4, or 5.5.
(b) Transfer of Non-Vested Savings Plan Restoration Account from Prior Plan . Effective as of January 1, 2005, that
portion of a Participant’s Savings Plan Restoration Account under the Prior Plan that was not vested as of December 31, 2004, shall be
transferred to and credited to such Participant’s Savings Plan Restoration Account under this Plan and shall be governed by the terms of this
Plan, including any Distribution Election Form filed under this Plan on or before December 31, 2005. If the Participant is not participating in
this Plan in 2005, the Participant may nevertheless make an election in accordance with Section 5.1(b) and 5.2 of this Plan if such election is
made by December 31, 2005. If the Participant does not file a Distribution Election Form on or before December 31, 2005, with respect to
such amount, together with interest the Participant shall be deemed to have made an election to receive distribution in accordance with
Section 5.1(a).
4.6 Statement of Deferral Accounts . The Committee shall submit to each Participant, within 120 days after the close of each Plan
Year, a statement in such form as the Committee deems desirable, setting forth the Participant’s Deferral Account(s).
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