Occidental Petroleum 2012 Annual Report Download - page 100

Download and view the complete annual report

Please find page 100 of the 2012 Occidental Petroleum annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 128

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128

3. Subsection (a) in section 3.1 is amended to read as follows:
(a) The first day on which the Employee's annualized Base Pay of Record exceeds the Threshold Amount or, with
respect to an Employee whose annualized Base Pay of Record does not exceed the Threshold Amount, May 1st
of a Plan Year if the sum of the Employee's annualized Base Pay of Record as of May 1 of the Plan Year and
Annual Bonus awarded during the Plan Year, less any portion of such Annual Bonus deferred under the
Deferred Compensation Plan, exceeds the Secondary Threshold Amount.
4. The following new paragraph (2) is added to section 4.1(a) of the Plan and current paragraph (2) is renumbered as
paragraph (3).
(2) An Employee:
(A) Who is eligible to participate in the Savings Plan and the Retirement Plan for the Plan Year, and
(B) The sum of whose annualized Base Pay of Record as of May 1 of the Plan Year and Annual Bonus
awarded during the Plan Year, less any portion of such Annual Bonus deferred under the Deferred
Compensation Plan, exceeds the Secondary Threshold Amount applicable to the Employee for the Plan
Year.
Whether an Employee meets the requirements of this paragraph (2) shall be determined as of May 1 st of each
Plan Year by the Company. An Employee who meets such requirements shall be eligible for the allocation
specified in subsection (b) beginning as of May 1 st of the Plan Year (or with respect to a newly eligible
Employee, once the Employee's participation in the Plan has commenced pursuant to Section 3.1). Until such
determination is made during the Plan Year (and, with respect to a newly eligible Employee, the Employee's
participation in the Plan has commenced pursuant to Section 3.1), an Employee shall not be treated as actively
participating in this Plan with respect to a Plan Year by reason of this paragraph (2) and, unless otherwise eligible
under paragraph (1), shall not be entitled to the allocations specified in subsection (b) for the Plan Year.
5. Except as amended above, the terms of the Plan as in effect prior to this amendment shall continue unchanged.