Company: OXY-WT
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000797468-25-000054
Chunk: 50

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 50
---
 contribution plan. The Retirement Plan is company-funded, and employees may not contribute to the Retirement Plan. The NEOs are fully vested in their account balances under the Retirement Plan. The amounts allocated to the Retirement Plan are included in the SRP II contributions by Occidental in the “All Other Compensation” column of the Summary Compensation Table on page 55 . Nonqualified Deferred Compensation Plans Occidental maintains two nonqualified deferred compensation plans: (i) the SRP II and (ii) the Modified Deferred Compensation Plan (MDCP). The purpose of the SRP II is to provide eligible employees, including the NEOs, with benefits to compensate them for maximum limits imposed by law on the amount of contributions that may be made to Occidental’s tax-qualified defined contribution plans. The purpose of the MDCP is to provide key management and highly compensated employees the ability to accumulate additional retirement income through deferrals of compensation. Additional information regarding the terms and conditions of the SRP II and the MDCP is provided in “Nonqualified Deferred Compensation” on pages 59 and 60 . Amounts contributed to the SRP II on behalf of the NEOs are included in the “All Other Compensation” column of the Summary Compensation Table on page 55 and above market earnings under the plans are included in the “Nonqualified Deferred Compensation Earnings” column of the Summary Compensation Table on page 55 . None of the executive officers made contributions to the MDCP or SRP II in 2024 . The contributions, aggregate earnings, withdrawals and aggregate balances for the NEOs in the SRP II and MDCP with respect to 2024 are shown in the Nonqualified Deferred Compensation table on page 60 . Retirement Policy Each of Occidental’s NEOs and certain other key employees are eligible participants under the Occidental Petroleum Corporation Retirement Policy. See “Executive Severance and Change in Control – Retirement Policy” on page 61 for a description of the policy. Other Personal Benefits Occidental provides a limited number of other personal benefits for its NEOs, which, in 2024 , consisted principally of fees related to excess liability insurance and an annual physical examination which are included in the “All Other Compensation” column of the Summary Compensation Table beginning on page 55 .

| 48 |

Compensation Discussion and Analysis

Individual Compensation Considerations In making executive compensation decisions for a given year, the Compensation Committee considers, among other factors, the performance of Occidental and the individual contributions of each NEO. The Compensation Committee determined that adjustments to target total