Occidental Petroleum 2014 Annual Report Download - page 115

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any employment and/or severance agreement between the Company (or an affiliate) and the Grantee in effect as of the date a
determination is to be made under these Terms and Conditions. Without limiting the scope of the preceding sentence, except as
provided therein, all prior understandings and agreements, if any, among the parties hereto relating to the subject matter hereof are
hereby null and void and of no further force and effect. The Committee may, in its sole discretion, amend these Terms and Conditions
from time to time in any manner that is not inconsistent with the Plan; provided, however, that except as otherwise provided in the Plan
or these Terms and Conditions, no amendment will adversely affect the rights of the Grantee under these Terms and Conditions in any
material respect without the Grantee’s consent.
15. Compliance with Law. The Company will make reasonable efforts to comply with all federal, state and non-U.S. laws
applicable to awards of this type. However, if it is not feasible for the Company to comply with these laws with respect to the grant or
settlement of these awards, then the awards may be cancelled without any compensation or additional benefits provided to Grantee as a
result of the cancellation.
16. Relation to Other Benefits. The benefits received by the Grantee under these Terms and Conditions will not be taken
into account in determining any benefits to which the Grantee may be entitled under any profit sharing, retirement or other benefit or
compensation plan maintained by the Company, including the amount of any life insurance coverage available to any beneficiary of
the Grantee under any life insurance plan covering employees of the Company. Additionally, this Option is not part of normal or
expected compensation or salary for any purposes, including but not limited to calculation of any severance, resignation, termination,
redundancy, end of service payments, bonuses or long-service awards. The grant of this Option does not create any contractual or
other right to receive future grants of Options or benefits in lieu of Options, even if Grantee has a history of receiving Options or other
cash or stock awards.
17. Severability. If one or more of the provisions of these Terms and Conditions is invalidated for any reason by a court of
competent jurisdiction, the invalidated provisions shall be deemed to be separable from the other provisions of these Terms and
Conditions, and the remaining provisions of these Terms and Conditions will continue to be valid and fully enforceable.
18. Governing Law. The laws of the State of Delaware govern the interpretation, performance, and enforcement of these
Terms and Conditions.