Occidental Petroleum 2011 Annual Report Download - page 110

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the Employee and not deferred under the Deferred Compensation Plan.
(A) For a Participant who shall not attain age 35 as of the last day of the Plan Year, the
sum of:
(i) 4 percent of the sum of the Base Pay of Record and Annual Bonus paid
for the calendar month below the Wage Base; plus
(ii) 8 percent of the sum of the Base Pay of Record and Annual Bonus paid
for the calendar month above the Wage Base.
(B) For a Participant who shall attain age 35 as of the last day of the Plan Year, the sum
of:
(i) 7 percent of the sum of the Base Pay of Record and Annual Bonus paid
for the calendar month below the Wage Base; plus
(ii) 12 percent of the sum of Base Pay of Record and Annual Bonus paid for
the calendar month above the Wage Base.
For purposes of calculating contingent allocations under this section, an Employee shall have Base Pay of Record
and Annual Bonus paid above the Wage Base for a calendar month only to the extent that the Employee’s Base Pay
of Record and Annual Bonus paid for the Plan Year, determined as of the last day of such pay period, is in excess of
the Wage Base.
4. The first sentence on Section 4.1(b)(2)(B) is amended to read as follows:
“The reduction amount for other Participants shall be equal to the dollar limit in effect for the Plan Year under
Code section 415(c)(1)(A) minus any Retirement Plan allocations to date, minus the sum of the following:”
5. The last paragraph of Section 4.1(b)(2) is amended to add the word “Paid” after the phrase “Annual Bonus” so
that it reads as follows:
For purposes of determining the reduction under this subparagraph, no portion of the sum of the
Participant’s Base Pay Paid and Annual Bonus Paid for the Plan Year in excess of the amount specified in
Code section 401(a)(17) in effect for the Plan Year shall be taken into account. The reduction amount shall
not be less than zero.