ex10_17-2009.htm


    EXHIBIT
10.17

    


    AMENDMENT
NUMBER 2

    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 January 1, 2010 as
follows:

     

    
      	 
      	
              1.

            	
              Section
      2.1(d), relating to the definition of “Annual Bonus Paid,” is amended in
      its entirety to read as follows:

            
	 
      	 
      	 
      	 
      
	 
      	 
      	
              (d)

            	
              “Annual
      Bonus Paid” means up to the first $100,000 of bonus paid to a
      Participant, who is not a “named executive officer”, as that term is
      defined in Regulations S-K under the Securities Exchange Act of 1934 (17
      CFR §229.402(a)(3)), during the Plan Year under a regular annual incentive
      compensation plan, such as the Company's Variable Compensation Program or
      Incentive Compensation Program (but excluding without limitation a special
      individual or group bonus, a project bonus, and any other special
      bonus).  For avoidance of doubt, “Annual Bonus Paid” means no
      more than $100,000 of bonus paid to a Participant, who is not a “named
      executive officer”, as that term is defined in Regulations S-K under the
      Securities Exchange Act of 1934 (17 CFR §229.402(a)(3)), during the Plan
      Year under any one or more regular annual incentive compensation
      plan.

            
	 
      	 
      	 
      	 
      
	 
      	
              2.

            	
              Section
      4.3(a)(1), relating to the “Eligibility” for “Allocations Relating to the
      Deferred Compensation” and the “Retirement Plan”  is amended in
      its entirety to read as follows:

            
	 
      	 
      	 
      	 
      
	 
      	 
      	
              (1)

            	
              Eligibility.
      An Employee who is a participant in the Retirement Plan and eligible to
      participate in the Deferred Compensation Plan for the Plan Year shall be
      provided the allocation for the Plan Year specified in paragraph
      (2).  However, notwithstanding anything to the contrary, an
      Employee of New Eastport Services, LLC and its affiliates is not eligible
      to receive an allocation for the Plan Year specified in paragraph
      (2).

            


    


    
      
         


      

      
         


         


      

      
         


      

    


     

    
      	 
      	
              3.

            	
              Section
      4.3(b)(1), relating to the “Eligibility” for “Allocations Relating to the
      Deferred Compensation” and the “Savings Plan”  is amended in its
      entirety to read as follows:

            
	 
      	 
      	 
      	 
      
	 
      	 
      	
              (1)

            	
              A
      Participant who is eligible to participate in the Savings Plan and makes a
      deferral election under the Deferred Compensation Plan for the Plan Year
      shall be provided the allocation for the Plan Year specified in paragraph
      (2).  However, notwithstanding anyting to the contrary, an
      Employee of New Eastport Services, LLC and its affiliates is not eligible
      to receive an allocation for the Plan Year specified in paragraph
      (2).

            
	 
      	 
      	 
      	 
      
	
              4.

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

            


    

     

    * * * * *
* *


    
      
         


      

      
         


         


      

      
         


      

    


    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

            	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              Roy
      Pineci

            	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              Laura
      B. Reider

            	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              Daniel
      S. Watts