ex10_16-2009.htm


    EXHIBIT
10.16

     

    AMENDMENT
NUMBER 1

    TO
THE

    OCCIDENTAL
PETROLEUM CORPORATION

    SUPPLEMENTAL
RETIREMENT PLAN II

    Effective
as of January 1, 2005

    Amended
and Restated as of November 1, 2008

     

     

    The
Occidental Petroleum Corporation Supplemental Retirement Plan II (Effective as
of January 1, 2005 Amended and Restated as of November 1, 2008) (“Plan”) is
hereby amended effective as of March 1, 2009 (unless a different effective
date is specified) as follows:

     

    
      	
              1.

            	
              Section
      2.1(e)(1), relating to the definition of “Base Pay of Record,” is amended
      in its entirety to read as follows:

            
	 
      	 
      	 
      	 
      
	 
      	
              (1)

            	
              Base
      Pay of Record does not include:

            
	 
      	 
      	 
      	 
      
	 
      	 
      	
              (A)

            	
              Bonuses,
      incentives, overtime, shift differential, and overseas
      differentials;

            
	 
      	 
      	 
      	 
      
	 
      	 
      	
              (B)

            	
              Reimbursement
      for expenses or allowances, including automobile allowances and moving
      allowances;

            
	 
      	 
      	 
      	 
      
	 
      	 
      	
              (C)

            	
              Any
      amount contributed by the Employer (other than pretax deferrals under the
      Savings Plan and any amounts contributed pursuant to the Occidental
      Petroleum Flexible Spending Accounts Plan, as amended from time to time)
      to any qualified plan or plan of deferred compensation;

            
	 
      	 
      	 
      	 
      
	 
      	 
      	
              (D)

            	
              Any
      amount paid by an Employer for other fringe benefits, such as health and
      hospitalization, and group life insurance benefits, or perquisites;
      and

            
	 
      	 
      	 
      	 
      
	 
      	 
      	
              (E)

            	
              Allowances
      paid during furlough and, for purposes of subsection (2)(F), such
      furloughs shall not be treated as paid leaves of
  absence.

            
	 
      	 
      	 
      	 
      
	
              2.

            	
              Except
      as amended above, the Plan as in effect prior to this amendment shall
      continue unchanged.

            


    

     

    * * * * *
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    In
Witness Whereof, the Company has caused this amendment to be adopted on
its behalf by the unanimous action of the Pension and Retirement Plan
Administrative Committee this ____ day of _______________,
2009.

     

     

    
      	 
      	
              Occidental
      Petroleum Corporation

            	 
      
	 
      	
              Pension
      and Retirement Plan

            	 
      
	 
      	
              Administrative
      Committee

            	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              Martin
      A. Cozyn

            	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              James
      M. Lienert

            	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              Laura
      B. Reider

            	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              Daniel
      S. Watts