Company: OXY-WT
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000797468-25-000054
Chunk: 133

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 133
---
 or grant price of the original Options or SARs and (ii) the Committee may not take any other action that would be considered a

| 96 |

Annex B “repricing” of an Option or SAR under generally accepted accounting principles. Reload Options may not be granted under the Plan, such that Options shall not be granted under the Plan in consideration for, and shall not be conditioned upon the delivery of, Stock to the Company in payment of the Exercise Price and/or tax withholding obligation under any other employee stock option. (c) Limit on Transfer of Awards . (i) Except as provided in Section 7(c)(iii) below, each Option and SAR shall be exercisable only by the Participant during the Participant’s lifetime, or by the person to whom the Participant’s rights shall pass by will or the laws of descent and distribution. (ii) Except as provided in Section 7(c)(iii) below or in the applicable Award Agreement, no Award and no right under any such Award may be assigned, alienated, pledged, hedged, attached, sold or otherwise transferred or encumbered by a Participant and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or any Affiliate. (iii) To the extent specifically provided by the Committee all or part of an Award may be transferred by a Participant without consideration to one or more “family members” (as such term is defined in Form S-8). In addition, to the extent provided in the Award Agreement, an Award may be transferred to a Participant’s designated beneficiaries (in accordance with procedures that may be established by the Company) or, if approved or ratified by the Committee, pursuant to a domestic relations order entered or approved by a court of competent jurisdiction upon delivery to the Company of written notice of such transfer and a certified copy of such order. In the absence of a beneficiary designation, a Participant’s estate will be the deemed beneficiary. Notwithstanding the foregoing provisions of this Section 7(c), an ISO shall not be transferable other than by will or the laws of descent and distribution. (d) Minimum Vesting Requirements . The minimum vesting or forfeiture restriction period for Awards (other than Performance Awards, which are subject to the performance period requirements described in Section 6(k) hereof, and Cash Awards) shall be three years, with such vesting or lapse of forfeiture restrictions occurring either on a pro rata basis, with any pro rata formula