Occidental Petroleum 2005 Annual Report Download - page 134

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EXHIBIT 10.62
OCCIDENTAL PETROLEUM CORPORATION
2005 LONG-TERM INCENTIVE PLAN
RESTRICTED SHARE UNIT AWARD
TERMS AND CONDITIONS
(mandatory deferred issuance of shares)
Date of Grant: December 5, 2005
Number of Restricted
Share Units: See “Shares Granted/Awarded” (Grant Acknowledgment screen)
Vesting Schedule: 1st Anniversary 20 Percent of Restricted Share Units
2nd Anniversary 20 Percent of Restricted Share Units
3rd Anniversary 20 Percent of Restricted Share Units
4th Anniversary 20 Percent of Restricted Share Units
5th Anniversary 20 Percent of Restricted Share Units
The following Terms and Conditions (these “Terms and Conditions”) are set forth as of the Date of Grant between OCCIDENTAL
PETROLEUM CORPORATION, a Delaware corporation ("Occidental") and, with its subsidiaries, (the "Company"), and the Eligible
Employee receiving this Award (the “Grantee”).
1. GRANT OF RESTRICTED SHARE UNITS. In accordance with these Terms and Conditions and the Occidental Petroleum Corporation 2005
Long-Term Incentive Plan, as such plan may be amended from time to time (the "Plan"), Occidental grants to the Grantee as of the Date of
Grant, the right to receive, at the end of the Deferral Period (as defined below) in accordance with the Grantee’s distribution election under the
Occidental Petroleum Corporation 2005 Deferred Stock Program, as such program may be amended from time to time (the “Deferral
Program”), Common Shares equal to the number of Restricted Share Units (as defined below) that vest according to the schedule set forth
above. For the purposes of these Terms and Conditions, (a) “Deferral Period” means the period commencing on the date the Restricted
Share Units vest and ending on the date the Grantee receives the complete distribution of Common Shares equal to the number of
Restricted Shares Units pursuant to the Deferral Program, and (b) “Restricted Share Unit” means a bookkeeping entry equivalent to a whole
or fractional Common Share. Restricted Share Units are not shares and have no voting rights or, except as stated in Section 5, dividend
rights.
2. RESTRICTIONS ON TRANSFER. Neither these Terms and Conditions, the Restricted Share Units nor the right to receive Common
Shares may be transferred or assigned by the Grantee other than (i) to a beneficiary designated on a form approved by the Company (if
permitted by local law), or, if the Grantee dies without designating a beneficiary under the Deferral Program or the Company’s Retirement
Program, to the Grantee’s surviving spouse, or if none, the Grantee’s estate, unless otherwise directed by a court having jurisdiction over
the Grantee’s probate estate, (ii) pursuant to a domestic relations order, if applicable, (if approved or ratified by the Administrator).
ex1062-200510k.htm