Occidental Petroleum 2014 Annual Report Download - page 109

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OCCIDENTAL PETROLEUM CORPORATION
2005 LONG-TERM INCENTIVE PLAN
NONSTATUTORY STOCK OPTION AWARD TERMS AND CONDITIONS
DATE OF GRANT: See Morgan Stanley Benefit Access “Stock Options and SARs /My Grants/Grant Date”
SHARES OF COMMON STOCK
SUBJECT TO THIS OPTION: See Morgan Stanley Benefit Access “Stock Options and SARs /My Grants/Granted”
VESTING AND EXERCISE
SCHEDULE: Zero prior to the first anniversary of the Date of Grant; ⅓ on the first anniversary of the Date of
Grant; an additional ⅓ on the second anniversary of the Date of Grant; and an additional ⅓ on
the third anniversary of the Date of Grant (each such anniversary of the Date of Grant being a
“Vesting Date”)
PURCHASE PRICE PER SHARE: See Morgan Stanley Benefit Access “Stock Options and SARs /My Grants/Grant Price”
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 (“OXY” and, with its subsidiaries, the “Company”), and
the eligible employee receiving this award (the “Grantee”).
1. Grant of Option. In accordance with these Terms and Conditions and the Occidental Petroleum Corporation 2005
Long-Term Incentive Plan, as the same may be amended from time to time (the “Plan”), OXY hereby grants to the Grantee as of the
Date of Grant the right and option (“Option”) to purchase all or any part of the aggregate number of shares of OXY common stock,
$0.20 par value (“Common Stock”), set forth above. In the event of any conflict between the terms of these Terms and Conditions
and the Plan, the Plan shall control. Capitalized terms used but not defined in these Terms and Conditions shall have the meanings
attributed to such terms under the Plan, unless the context requires otherwise. This Option shall not be treated as an incentive stock
option within the meaning of section 422(b) of the Code.
If the Grantee fails to accept this award prior to the first record date for the payment of dividends on the Common Stock
subsequent to the Date of Grant, then, notwithstanding any other provision of this award, the Grantee shall forfeit this Option and all
rights under this award and this award will become null and void. For purposes of these Terms and Conditions, acceptance of the
award shall occur on the date the Grantee accepts this Nonstatutory Stock Option Award through Morgan Stanley Benefit Access or
any replacement on-line system designated by the Company.