Document:

EX-10.1

 Exhibit 10.1 
  

 
 June 25, 2020 

Todd Branning 
 New York, NY
10023 
  

	Re:	 Employment Offer Letter 

Dear Todd: 

Phathom Pharmaceuticals, Inc. (the “Company”) is pleased to offer you a position on the terms set
forth in this letter (this “Agreement”). 
  

	 	•	 	 EMPLOYMENT TERMS. 

 

	 	•	 	 DUTIES. Following the Start Date (as defined below), you
shall serve as the Company’s Chief Financial Officer. In such position, you will perform such duties as are customarily associated with the position of Chief Financial Officer and you shall report directly to the Chief Executive Officer of the
Company (the “Supervising Officer”). You will be responsible for the Company’s accounting, financial planning and analysis (FP&A), and investor relations functions, as well as such other duties as are assigned to you by
your Supervising Officer; provided, however, such other duties shall be consistent with your role as Chief Financial Officer. You shall perform your services on a full-time basis at the Company’s headquarters at 100 Campus Drive, Florham Park,
New Jersey, with travel to the Company’s research and development location in Chicago Northwestern Suburbs, Illinois as needed in connection with your duties at the Company’s expense. This is an exempt position. 

 

	 	•	 	 EXCLUSIVE SERVICES. During the term of your
employment, you shall devote your full working time and attention to the business affairs of the Company. Subject to the terms of the Company’s form of Proprietary Information and Inventions Assignment Agreement, as described below, this shall
not preclude you from (a) devoting time to personal and family investments, (b) participating in industry associations, or (c) serving on professional, educational, community and civic boards, provided such activities do not interfere
with your duties to the Company, as determined in good faith by the Supervising Officer. You agree that you will not join any boards, other than professional, educational, community and civic boards (which do not interfere with your duties to the
Company), without the prior approval of the Supervising Officer, which approval shall not be unreasonably withheld, and that you shall be limited to service on two outside boards, other than professional, educational, community and civic boards.

  

	 	•	 	 START DATE. We expect that your employment
start date (the “Start Date”) will occur as soon as reasonably practicable but in no event later than July 15, 2020 (the “Start Date Deadline”). The employment offer contained in this Agreement
will automatically expire if you have not commenced full-time employment with the Company prior to the Start Date Deadline. This offer, if not accepted, will expire at the close of business on July 7, 2020. 

	 	•	 	 EMPLOYMENT COMPENSATION. Your initial
employment compensation will be as follows: 

  

	 	•	 	 BASE SALARY. You will receive an annual base salary of
$425,000 for all hours worked, less taxes, authorized withholdings and other legally required deductions. You will be paid in accordance with the Company’s customary payroll procedures as established and modified from time-to-time. Your base salary will be subject to annual reviews for increases by and at the sole discretion of the Board of Directors of the Company (the
“Board”) or its compensation committee. 

  

	 	•	 	 ANNUAL BONUS. In addition to your base
salary, you shall be eligible to earn, for each fiscal year of the Company ending during the term of your employment with the Company, an annual cash performance bonus under the Company’s bonus plan, as approved from time to time by the Board.
Your target annual bonus will be forty percent (40%) of your base salary actually paid for the year to which such annual bonus relates (your “Target Bonus”). Your actual annual bonus will be determined on the basis of
your and/or the Company’s attainment of financial or other performance criteria established by the Board or its designee in accordance with the terms and conditions of such bonus plan. You must be employed by the Company on the date of payment
of such annual bonus in order to be eligible to receive such annual bonus. Your bonus for your initial year of employment will be prorated to reflect the portion of the year that you were an employee of the Company. 

 

	 	•	 	 BENEFITS. You shall be eligible to participate in all of
the employee benefit plans or programs the Company generally makes available to similarly situated employees, pursuant to the terms and conditions of such plans. You will also be entitled to vacation and/or paid time off each year in accordance with
Company policy and all holidays observed by the Company each year. The Company reserves the right to change benefits provided to its employees from time to time in its discretion. 

 

	 	•	 	 WITHHOLDING. All amounts payable to you will be subject to
appropriate payroll deductions and withholdings. 

  

	 	•	 	 STOCK OPTIONS. Subject to approval of the
Board, you will be granted stock options to purchase 85,000 shares of the Company’s common stock at an exercise price per share equal to the fair market value per share of the Company’s common stock on the date of grant (the
“Stock Options”). The Stock Options will be granted pursuant to the Company’s equity incentive plan (the “Plan”). The Stock Options will be subject to the terms and conditions of the Plan and your
stock option agreement. The Stock Options will vest over a four year vesting schedule. The Stock Options will vest over a four year vesting schedule, with twenty-five percent (25%) of the Stock Options vesting on the first anniversary of the Start
Date and the remaining Stock Options vesting in thirty-six (36) equal monthly installments thereafter, subject solely to your continued employment or service to the Company on each such vesting date
(except as set forth herein). Except as otherwise expressly provided herein, in the event of your termination of employment or service for any reason, all of your unvested Stock Options will terminate immediately. 

 

	 	•	 	 PERFORMANCE BASED SHARE
UNITS. In addition to the Stock Options, subject to approval by the Board, you will be eligible to receive a one-time grant of 10,000

  
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performance based share units (the “PSUs”). The PSUs will be granted under the Plan. The PSUs will be subject to the terms and conditions of the Plan and your PSU
agreement. Each PSU will represent the right to receive one share of our common stock. The award will vest upon FDA approval of vonoprazan for Erosive Esophagitis, assuming that the FDA has previously approved vonoprazan for H. Pylori. For
the avoidance of doubt, the FDA must approve vonoprazan for H. Pylori prior to or concurrent with approving vonoprazan for Erosive Esophagitis in order for the PSUs to vest. In addition, the PSUs will vest upon the occurrence of a Change in
Control (as defined in the Plan). Except as set forth herein, you must be employed on the vesting date in order to be eligible for vesting in this award. The award will be granted under the Company’s equity plan and will be subject to the terms
of the equity plan and the applicable award agreement. Except as otherwise expressly provided in the Plan or your PSU agreement, in the event of your termination of employment or service for any reason, all of your unvested PSUs will terminate
immediately. 

  

	 	•	 	 EXPENSES. You will be entitled to reimbursement for all
ordinary and reasonable out-of-pocket business expenses which are reasonably incurred by you in furtherance of the Company’s business, with appropriate
documentation and in accordance with the Company’s standard policies. 

  

	 	•	 	 SEVERANCE. 

 

	 	•	 	 ACCRUED OBLIGATIONS. If your employment
terminates for any reason, you are entitled to your fully earned but unpaid base salary, through the date such termination is effective at the rate then in effect, and all other amounts or benefits to which you are entitled under any compensation,
retirement or benefit plan of the Company at the time of your termination of employment in accordance with the terms of such plans, including, without limitation, any accrued but unpaid paid time off and any continuation of benefits required by
applicable law (the “Accrued Obligations”). 

  

	 	•	 	 NON-CIC SEVERANCE BENEFITS.
In addition to your Accrued Obligations, subject to your continued compliance with the Proprietary Information and Inventions Assignment Agreement, as described below, and the effectiveness of your Release, as defined below, if, following the Start
Date, your employment is involuntarily terminated by the Company without Cause (and other than by reason of your death or disability) or you resign for Good Reason (either such termination, a “Qualifying Termination”), and
such Qualifying Termination does not occur during the Change in Control Period (as defined below), you shall be entitled to receive, as the sole severance benefits to which you are entitled, the benefits provided below (the “Non-CIC Severance Benefits”): 

  

	 	•	 	 An amount equal to 9 months’ base salary (at the rate in effect immediately prior to the date of your
termination of employment, or in the case of a material diminution in your base salary which would give rise to Good Reason for your resignation, the base salary in effect prior to such material diminution), which amount will be paid over a period
of 9 months following your termination of employment in accordance with the Company’s standard payroll practices, with the first such installment occurring on the first regularly-scheduled payroll date following the date your Release becomes
effective (which first installment will include any installments that would have occurred prior to such date but for the fact 

  
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your Release was not yet effective); 

  

	 	•	 	 An amount equal to your Target Bonus for the calendar year in which your termination date occurs, prorated for
the portion of the calendar year in which your termination date occurs that has elapsed prior to such termination, plus any unpaid annual bonus for the calendar year prior to the year in which your Qualifying Termination occurs, to the extent you
are entitled to such bonus and if such bonus has not already been paid, which amount(s) will be paid in a lump sum on the first regularly-scheduled payroll date following the date your Release becomes effective, but in no event more than 75 days
following your termination date; 

 (i) For the 9 month period beginning on the date of your termination
of employment (or, if earlier, (a) the date on which the applicable continuation period under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) expires, or (b) the date on which you
become eligible to receive the equivalent or increased healthcare coverage by means of subsequent employment or self-employment) (such period, the “COBRA Coverage Period”), if you and/or your eligible dependents who were
covered under the Company’s health insurance plans as of the date of your termination of employment elect to have COBRA coverage and are eligible for such coverage, the Company shall pay for or reimburse you on a monthly basis for an amount
equal to the monthly premium you and/or your covered dependents, as applicable, are required to pay for continuation coverage pursuant to COBRA for you and/or your eligible dependents, as applicable, who were covered under the Company’s health
plans as of the date of your termination of employment (calculated by reference to the premium as of the date of your termination of employment) less (ii) the amount you would have had to pay to receive group health coverage for you and/or your
covered dependents, as applicable, based on the cost sharing levels in effect on the date of your termination of employment. If any of the Company’s health benefits are self-funded as of the date of your termination of employment, or if the
Company cannot provide the foregoing benefits in a manner that is exempt from Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), or that is otherwise compliant with applicable law (including,
without limitation, Section 2716 of the Public Health Service Act), instead of providing the payments or reimbursements as set forth above, the Company shall instead pay to you the foregoing monthly amount as a taxable monthly payment for the
COBRA Coverage Period (or any remaining portion thereof). You shall be solely responsible for all matters relating to continuation of coverage pursuant to COBRA, including, without limitation, the election of such coverage and the timely payment of
premiums. You shall notify the Company immediately if you become eligible to receive the equivalent or increased healthcare coverage by means of subsequent employment or self-employment; and 

 

	 	•	 	 Notwithstanding anything else set forth herein, in the Plan or in any award agreement, such number of the
unvested Stock Awards (as defined below) then held by you (including the Stock Options, but not including the PSUs) will vest on the effective date of your Release as would have vested during the 9-month
period following your Qualifying Termination had you 

  
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remained employed by the Company during such period. The foregoing provisions are hereby deemed to be a part of each Stock Award and to supersede any less favorable provision in any agreement or
plan regarding such Stock Award. 

  

	 	•	 	 CIC SEVERANCE BENEFITS. In addition to your Accrued Obligations, subject
to your continued compliance with the Proprietary Information and Inventions Assignment Agreement, as described below, and the effectiveness of your Release, if your Qualifying Termination occurs following the Start Date and during the Change in
Control Period, you shall be entitled to receive, as the sole severance benefits to which you are entitled and in lieu of any Non-CIC Severance Benefits, the benefits provided below (the “CIC
Severance Benefits”) (and for the avoidance of doubt: (a) in no event will you be entitled to both the Non-CIC Severance Benefits and the CIC Severance Benefits, and (b) if the Company
has commenced providing the Non-CIC Severance Benefits to you prior to the date that you become eligible to receive the CIC Severance Benefits, the Non-CIC Severance
Benefits previously provided to you shall reduce the CIC Severance Benefits provided below by the amount of such Non-CIC Severance Benefits already provided to you): 

 

	 	•	 	 An amount equal to 12 months’ base salary (at the rate in effect immediately prior to the date of your
termination of employment, or in the case of a material diminution in your base salary which would give rise to Good Reason for your resignation, the base salary in effect prior to such material diminution), which amount will be paid over a period
of 12 months following your termination of employment in accordance with the Company’s standard payroll practices, with the first such installment occurring on the first regularly-scheduled payroll date following the date your Release becomes
effective (which first installment will include any installments that would have occurred prior to such date but for the fact your Release was not yet effective); 

 

	 	•	 	 An amount equal to your Target Bonus for the calendar year in which your termination date occurs, plus any
unpaid annual bonus for the calendar year prior to the year in which your Qualifying Termination occurs, to the extent you are entitled to such bonus and if such bonus has not already been paid, which amount(s) will be paid as follows: (a) an
amount equal to your Target Bonus for the calendar year in which your termination date occurs, prorated for the portion of the calendar year in which your termination date occurs that has elapsed prior to such termination, plus any unpaid annual
bonus for the calendar year prior to the year in which your Qualifying Termination occurs, to the extent you are entitled to such bonus and if such bonus has not already been paid, which amount(s) will be paid in a lump sum on the first
regularly-scheduled payroll date following the date your Release becomes effective, but in no event more than 75 days following your termination date, and (b) any remaining portion of your Target Bonus for the calendar year in which your
termination date occurs (above the prorated portion payable pursuant to clause (a)), will be paid on the first regularly-scheduled payroll date following the later of (i) the date your Release becomes effective or (ii) the date of the
Change in Control; 

  
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	 	•	 	 For the 12 month period beginning on the date of your termination of employment (or, if earlier, (a) the
date on which the applicable continuation period under COBRA expires, or (b) the date on which you become eligible to receive the equivalent or increased healthcare coverage by means of subsequent employment or self-employment) (such period,
the “CIC COBRA Coverage Period”), if you and/or your eligible dependents who were covered under the Company’s health insurance plans as of the date of your termination of employment elect to have COBRA coverage and are
eligible for such coverage, the Company shall pay for or reimburse you on a monthly basis for an amount equal to (i) the monthly premium you and/or your covered dependents, as applicable, are required to pay for continuation coverage pursuant
to COBRA for you and/or your eligible dependents, as applicable, who were covered under the Company’s health plans as of the date of your termination of employment (calculated by reference to the premium as of the date of your termination of
employment) less (ii) the amount you would have had to pay to receive group health coverage for you and/or your covered dependents, as applicable, based on the cost sharing levels in effect on the date of your termination of employment. If any
of the Company’s health benefits are self-funded as of the date of your termination of employment, or if the Company cannot provide the foregoing benefits in a manner that is exempt from Section 409A of Code, or that is otherwise compliant
with applicable law (including, without limitation, Section 2716 of the Public Health Service Act), instead of providing the payments or reimbursements as set forth above, the Company shall instead pay to you the foregoing monthly amount as a
taxable monthly payment for the CIC COBRA Coverage Period (or any remaining portion thereof). You shall be solely responsible for all matters relating to continuation of coverage pursuant to COBRA, including, without limitation, the election of such
coverage and the timely payment of premiums. You shall notify the Company immediately if you become eligible to receive the equivalent or increased healthcare coverage by means of subsequent employment or self- employment; and 

 

	 	•	 	 Notwithstanding anything else set forth herein, in the Plan or in any award agreement, any unvested Stock
Awards then held by you (including the Stock Options, but not including the PSUs) will vest on the later of (i) the effective date of your Release or (ii) the date of the Change in Control. The foregoing provisions are hereby deemed to be
a part of each Stock Award and to supersede any less favorable provision in any agreement or plan regarding such Stock Award. 

  

	 	•	 	 As a condition to your receipt of any post-termination payments and benefits pursuant to the preceding
paragraphs, you shall execute and not revoke a general release of all claims in favor of the Company (the “Release”) in a form reasonably acceptable to the Company in order to effectuate a valid general release of claims. In
the event the Release does not become effective within the 60-day period following the date of your termination of employment, you will not be entitled to the aforesaid payments and benefits.

  

	 	•	 	 For purposes of this Agreement, “Cause” means any of the following: (a) your
commission of an act of fraud, embezzlement or dishonesty, or the commission of some other illegal act by you, that has a demonstrable adverse impact on the 

  
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Company or any successor or affiliate thereof; (b) your conviction of, or plea of “guilty” or “no contest” to, a non-vehicular
felony or any crime involving fraud, dishonesty or moral turpitude under the laws of the United States or any state thereof; (c) any intentional, unauthorized use or disclosure by you of confidential information or trade secrets of the Company
or any successor or affiliate thereof; (d) your gross negligence, insubordination or material violation of any duty of loyalty to the Company or any successor or affiliate thereof, or any other demonstrable material misconduct on your part;
(e) your ongoing and repeated failure or refusal to perform or neglect of your duties as required by this Agreement or your ongoing and repeated failure or refusal to comply with the lawful instructions given to you by the Board, which failure,
refusal or neglect continues for 15 days following your receipt of written notice from the Board stating with specificity the nature of such failure, refusal or neglect; provided that it is understood that this clause (e) shall not permit the
Company to terminate your employment for Cause solely because of (i) your failure to meet specified performance objectives or achieve a specific result or outcome, or (ii) Company’s dissatisfaction with the quality of services
provided by you in the good faith performance of your duties to the Company; or (f) your willful, material breach of any material Company policy or any material provision of this Agreement or the Proprietary Information and Inventions
Assignment Agreement. Prior to the determination that “Cause” under clauses (d), (e) or (f) has occurred, the Company shall (i) provide to you in writing, in reasonable detail, the reasons for the determination that such
“Cause” exists, (ii) other than with respect to clause (e) above which specifies the applicable period of time for you to remedy your breach, afford you a reasonable opportunity to remedy any such breach, (iii) provide you
an opportunity to be heard prior to the final decision to terminate your employment hereunder for such “Cause” and (iv) make any decision that such “Cause” exists in good faith. The foregoing definition shall not in any way
preclude or restrict the right of the Company or any successor or affiliate thereof to discharge or dismiss you for any other acts or omissions, but such other acts or omissions shall not be deemed, for purposes of this Agreement, to constitute
grounds for termination for Cause. 

  

	 	•	 	 For purposes of this Agreement, “Change in Control” shall have the meaning set forth
in the Plan. If a Change in Control would give rise to a payment or settlement event with respect to any payment or benefit that constitutes “nonqualified deferred compensation,” the transaction or event constituting the Change in Control
must also constitute a “change in control event” (as defined in Treasury Regulation §1.409A-3(i)(5)) in order to give rise to the payment or settlement event for such payment or benefit, to the
extent required by Section 409A. 

  

	 	•	 	 For purposes of this Agreement, “Change in Control Period” means the three months
prior to or 24 months following a Change in Control. 

  

	 	•	 	 For purposes of this Agreement, “Good Reason” means any of the following without your
written consent: (a) a material diminution in your authority, duties or responsibilities, including a requirement that you report to a corporate officer other than the Chief Executive Officer; (b) a material diminution in your base
compensation (and you and the Company agree that any diminution of 10% or more shall be considered material for this purpose, regardless of whether such diminution occurs due to a single reduction or a series of reductions in your base
compensation), unless such a reduction is imposed across-the-board to senior 

  
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management of the Company; (c) a material change in the geographic location at which you must perform your duties (and you and the Company agree that a relocation of the geographic location
at which you must perform your duties to a location that increases your one-way commute from your residence by more than 50 miles as compared to your principal place of employment prior to such relocation
shall be considered material for this purpose); or (d) any other action or inaction that constitutes a material breach by the Company or any successor or affiliate of its obligations to you under this Agreement. You must provide written notice
to the Company of the occurrence of any of the foregoing events or conditions without your written consent within 60 days of the occurrence of such event. The Company or any successor or affiliate shall have a period of 30 days to cure such event or
condition after receipt of written notice of such event from you. Your termination of employment by reason of resignation from employment with the Company for Good Reason must occur within 30 days following the expiration of the foregoing 30-day cure period. 

  

	 	•	 	 For purposes of this Agreement, “Stock Awards” means all stock options, restricted
stock and such other awards granted pursuant to the Company’s stock option and equity incentive award plans or agreements and any shares of stock issued upon exercise thereof, including the Stock Options (but not including the PSUs).

  

	 	•	 	 To the extent applicable, this Agreement shall be interpreted in accordance with Section 409A of the Code
and Department of Treasury regulations and other interpretive guidance issued thereunder. The intent of the parties is that payments and benefits under this Agreement comply with, or be exempt from Section 409A of the Code and, accordingly, to
the maximum extent permitted, this Agreement shall be interpreted to be in compliance with such intention. To the extent that any provision in this Agreement is ambiguous as to its compliance with or exemption from Section 409A of the Code, the
provision shall be read in such a manner that no payments payable under this Agreement shall be subject to an “additional tax” as defined in Section 409A(a)(1)(B) of the Code. For purposes of Section 409A of the Code, any right
to a series of installment payments under this Agreement shall be treated as a right to a series of separate payments. For purposes of this Agreement, all references to your “termination of employment” shall mean your “separation from
service” (as defined in Treasury Regulation Section 1.409A-1(h)) (“Separation from Service”). If you are a “specified employee” (as defined in Section 409A of
the Code), as determined by the Company in accordance with Section 409A of the Code, on the date of your Separation from Service, to the extent that the payments or benefits under this Agreement are
“non-qualified deferred compensation” subject to Section 409A of the Code and the delayed payment or distribution of all or any portion of such amounts to which you are entitled under this
Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, then such portion deferred pursuant to this paragraph shall be paid or distributed to you in a lump sum on the earlier of (a) the date
that is 6 months and one day following your Separation from Service, (b) the date of your death or (c) the earliest date as is permitted under Section 409A of the Code. Any remaining payments due under this Agreement shall be paid as
otherwise provided herein. 

  

	 	•	 	 To the extent that the payments or benefits under this Agreement are
“non-qualified deferred compensation” subject to Section 409A of the Code, if the 

  
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period during which you may deliver the Release required hereunder spans two calendar years, the payment of your post-termination benefits shall occur (or commence) on the later of
(a) January 1 of the second calendar year, or (b) the first regularly-scheduled payroll date following the date your Release becomes effective. 

  

	 	•	 	 Any reimbursement of expenses or in-kind benefits payable under this
Agreement shall be made in accordance with Treasury Regulation Section 1.409A-3(i)(1)(iv) and shall be paid on or before the last day of your taxable year following the taxable year in which you incurred
the expenses. The amount of expenses reimbursed or in-kind benefits payable in one year shall not affect the amount eligible for reimbursement or in-kind benefits
payable in any other taxable year of yours, and your right to reimbursement for such amounts shall not be subject to liquidation or exchange for any other benefit. 

 

	 	•	 	 COMPANY POLICIES AND PROPRIETARY
INFORMATION AND INVENTIONS ASSIGNMENT AGREEMENT. As both a consultant and an employee of the Company, you shall be expected to abide by all of the Company’s policies
and procedures and the Company’s employee handbook, if any. As a condition of your commencement of services hereunder, you agree to execute and abide by the terms of the Company’s form of the Proprietary Information and Inventions
Assignment Agreement, which shall survive termination of your employment or service with the Company and the termination of the Proprietary Information and Inventions Assignment Agreement. You acknowledge that a remedy at law for any breach or
threatened breach by you of the provisions of the Proprietary Information and Inventions Assignment Agreement may be inadequate, and you therefore agree that the Company shall be entitled to seek injunctive relief in case of any such breach or
threatened breach. The Company may modify, revoke, suspend or terminate any of the terms, plans, policies and/or procedures described in the employee handbook, if any, or as otherwise communicated to you, in whole or part, at any time, with or
without notice; provided that any such action does not affect your rights under this Agreement. 

  

	 	•	 	 EMPLOYMENT TERMS. As a condition to your employment with the Company on
the Start Date, you are required to (a) sign and return a satisfactory I-9 Immigration form providing sufficient documentation establishing your employment eligibility in the United States, and
(b) provide satisfactory proof of your identity as required by United States law. 

  

	 	•	 	 OTHER AGREEMENTS. You represent and agree
that your performance of your duties for the Company shall not violate any agreements, obligations or understandings that you may have with any third party or prior employer. Without limiting the foregoing, you represent and agree that you are not
bound by any non-compete or non-solicitation agreement or any other type of agreement that would prohibit your employment with or service to the Company. You agree not
to make any unauthorized disclosure or use, on behalf of the Company, of any confidential information belonging to any of your former employers. You also represent that you are not in unauthorized possession of any materials containing a third
party’s confidential and proprietary information. While employed by or providing services to the Company, you will not engage in any business activity in competition with the Company nor make preparations to do so. In the event that you wish to
undertake a business activity outside the scope of your employment by or services to the Company, which activity you believe entails no conflict with the Company’s activities, you agree to inform the Company of your intentions before the
initiation of such outside business activity, and you furthermore agree to abide by the Company’s decision as to whether or not there is no conflict. If, in the Company’s reasonable determination, a conflict exists or

  
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	 	 is likely to develop, you agree not to undertake such outside business activity. 

 

	 	•	 	 AT-WILL EMPLOYMENT. Following the Start Date, your
employment with the Company will be “at-will” at all times, meaning that either you or the Company will be entitled to terminate your employment at any time and for any reason, with or without cause.
Any contrary representations that may have been made to you are superseded by this offer. This Agreement in no way represents a fixed-term employment contract. This is the full and complete agreement between you and the Company on this term. The
“at will” nature of your employment may only be changed in an express written agreement signed by you and a duly authorized officer of the Company. 

  

	 	•	 	 NON-INTERFERENCE. While employed by or providing services to the Company,
and for one (1) year immediately following the date on which you terminate employment or otherwise cease providing services to the Company, you agree not to interfere with the business of the Company by (a) soliciting or attempting to
solicit any employee or consultant of the Company to terminate such employee’s or consultant’s employment or service in order to become an employee, consultant or independent contractor to or for any other person or entity or
(b) soliciting or attempting to solicit any vendor, supplier, customer or other person or entity either directly or indirectly, to direct his, her or its purchase of the Company’s products and/or services to any person, firm, corporation,
institution or other entity in competition with the business of the Company. The foregoing restrictions shall not apply with respect to the bona fide hiring and firing of Company personnel to the extent such acts are part of your duties for Company.
Your duties under this paragraph shall survive termination of your employment with or service to the Company and the termination of this Agreement. 

  

	 	•	 	 REASONABLENESS OF TERMS. You agree that the terms
contained in the “Other Agreements” and “Non-Interference” paragraphs above are reasonable in all respects and that the restrictions contained therein are designed to protect the Company
against unfair competition. In the event a court determines that any of the terms or provisions of this Agreement are unreasonable, the court may limit the application of any provision or term, or modify any provision or term, and proceed to enforce
this Agreement as so limited or modified. 

  

	 	•	 	 GOVERNING LAW; JURISDICTION AND
VENUE. This Agreement, for all purposes, shall be construed in accordance with the laws of the State of New Jersey without regard to conflicts-of-law
principles. Any action or proceeding by either party to enforce this Agreement shall be brought only in any state or federal court located in the State of New Jersey. The parties hereby irrevocably submit to the exclusive jurisdiction of such courts
and waive the defense of inconvenient forum to the maintenance of any such action or proceeding in such venue. 

  

	 	•	 	 SEVERABILITY. Whenever possible, each provision of this Agreement will be interpreted in
such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or
unenforceability will not affect any other provision or any other jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provisions had never been contained herein.

  

	 	•	 	 SUCCESSORS AND ASSIGNS. This Agreement is intended to bind
and inure to the benefit 

  
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	 	 of and be enforceable by you and the Company, and their respective successors, assigns, heirs, executors and
administrators, except that you may not assign any of your duties hereunder and you may not assign any of your rights hereunder, without the written consent of the Company, which shall not be withheld unreasonably. 

 

	 	•	 	 ENTIRE AGREEMENT. This Agreement and the Proprietary Information and
Inventions Assignment Agreement constitute the complete, final and exclusive embodiment of the entire agreement between you and the Company with respect to the terms and conditions of your employment or service specified herein and therein. This
Agreement and the Proprietary Information and Inventions Assignment Agreement supersede any other such promises, obligations, warranties, representations or agreements between you and the Company, and you agree that any and all such prior promises,
obligations, warranties, representations and agreements are hereby terminated. This Agreement may not be amended or modified except by a written instrument signed by you and a duly authorized officer of the Company. 

If you choose to accept this Agreement under the terms described above, please acknowledge your acceptance of our offer by
returning a signed copy of this letter and the Proprietary Information and Inventions Assignment Agreement to our attention. 
 Sincerely,

  

	
	Phathom Pharmaceuticals, Inc.
	
	 /s/ Joe Hand

	 Name: Joe Hand

	 Chief Administrative Officer

 Agreed and Accepted: 

I have read and understood this Agreement and hereby acknowledge, accept and agree to the terms as set forth above and further
acknowledge and agree that no other commitments were made to me as part of my offer except as specifically set forth herein. 
  

									
	 /s/ Todd P. Branning
	 		 		 	 Date:
	 	 07/02/2020

	 Todd P. Branning
	 		 		 		 	

  
 11Exhibit 4.2

    

    

    OCCIDENTAL PETROLEUM CORPORATION

    

    

    Officer’s Certificate

     

    

    July 13, 2020

     

    

    Pursuant to Section 201 and Section 301 of the Indenture, dated as of August 8, 2019 (the “Indenture”), between Occidental
      Petroleum Corporation, a Delaware corporation (the “Company”), and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”), the terms of the following
      three series of Securities to be issued pursuant to the Indenture are as follows:

     

    

    1.          Authorization. The establishment of three new
        series of Securities of the Company has been approved and authorized in accordance with the provisions of the Indenture pursuant to resolutions adopted by the Board of Directors of the Company (the “Board”)
        on June 23, 2020 and by the Pricing Committee of the Board on June 26, 2020.

     

      

    2.         Compliance with Covenants and Conditions Precedent.
        All covenants and conditions precedent provided for in the Indenture relating to the establishment of such series of Securities have been complied with.

     

      

    3.           Terms. The terms of the series of Securities
        established pursuant to this Officer’s Certificate shall be as follows:

     

      

    (i)           Title. The titles of the series of Securities
        are as follows:

     

      

    
      
        	

              	(1)	
                the “8.000% Senior Notes due 2025” (the “2025 Notes”);

              

         

        

      

    

    
      
        	

              	(2)	
                the “8.500% Senior Notes due 2027” (the “2027 Notes”); and

              

         

        

      

    

    
      
        	

              	(3)	
                the “8.875% Senior Notes due 2030” (the “2030 Notes” and, together with the 2025 Notes and the 2027 Notes, the “Notes”).

              

      

    

     

      

    (ii)        Initial Aggregate Principal Amount. The initial
        aggregate principal amount of Notes of each series, which may be authenticated and delivered pursuant to the Indenture (except for Notes of such series authenticated and delivered upon registration of transfer of or in exchange for, or in lieu of,
        other Notes of such series pursuant to Sections 305, 306, 906 and 1107 of the Indenture), is as follows:

     

      

    
      
        	

              	(1)	
                in the case of the 2025 Notes, $500,000,000;

              

         

        

      

    

    
      
        	

              	(2)	
                in the case of the 2027 Notes, $500,000,000; and

              

         

        

      

    

    
      
        	

              	(3)	
                in the case of the 2030 Notes, $1,000,000,000.

              

      

    

     

      

    (iii)       Book-Entry Form. The Notes of each series will
        be issued in book-entry form (“Book-Entry Notes”) and represented by one or more definitive global Notes (the “Global Notes”). The initial Depositary with respect to
        the Global Notes will be The Depository Trust Company. Book-Entry Notes of any series will not be exchangeable for Notes in definitive form (“Definitive Notes”) except as provided in Section 305 of the
        Indenture.

     

      

    
      
        

    

    
    (iv)        Persons to Whom Interest Payable. Interest
        payable on any Interest Payment Date (as defined below) with respect to a Note of any series will be paid to the Person in whose name such Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record
        Date for the Notes of such series (whether or not a Business Day) with respect to such Interest Payment Date.

     

      

    (v)         Stated Maturity. The principal amount of the
        Notes of each series will be payable on the respective dates set forth below, subject to earlier redemption as set forth in paragraph (viii) below:

     

      

    
      
        	

              	(1)	
                in the case of the 2025 Notes, July 15, 2025;

              

         

        

      

    

    
      
        	

              	(2)	
                in the case of the 2027 Notes, July 15, 2027; and

              

         

        

      

    

    
      
        	

              	(3)	
                in the case of the 2030 Notes, July 15, 2030.

              

         

        

      

    

    (vi)         Rate of Interest; Interest Payment Dates; Regular
          Record Dates; Accrual of Interest.

     

      

    The 2025 Notes will bear interest at the rate of 8.000% per annum. The 2027 Notes will bear interest at the rate of 8.500% per annum. The 2030 Notes will bear interest
      at the rate of 8.875% per annum. Interest on each series of Notes will be payable semi-annually in arrears on July 15 and January 15 of each year, commencing on January 15, 2021. The Regular Record Date for each series of Notes shall be the July 1 or
      January 1 (whether or not a Business Day), as the case may be, immediately preceding the applicable Interest Payment Date.

     

    

    “Interest Payment Date” refers to July 15 or January 15 of each year.

     

    

    The Notes of each series will bear interest from and including July 13, 2020 or from and including the most recent Interest Payment Date to or for which interest has
      been paid or duly provided until the principal thereof is paid or made available for payment. Interest payments on the Notes of each series shall be the amount of interest accrued from and including the most recent Interest Payment Date for such
      series for which interest has been paid or duly provided (or from and including July 13, 2020 if no interest has been paid or duly provided with respect to the Notes of such series), to but excluding the next succeeding Interest Payment Date for such
      series (or other day on which such payment of interest on the Notes of such series is due). Interest on the Notes of each series will be calculated on the basis of a 360-day year comprised of twelve 30-day months.

     

    

    
      2

      
        

    

    (vii)      Place of Payment; Registration of Transfer and
          Exchange; Notices to Company. Payment of the principal of and interest on the Notes of each series will be made at the Corporate Trust Office of the Trustee in the Borough of Manhattan, The City of New York, or at the office or agency of
        the Trustee maintained for that purpose in the Borough of Manhattan, The City of New York, or at any other office or agency designated by the Company for such purpose; provided that, at the option of the
        Company, payment of interest due on any Interest Payment Date may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or by wire transfer of immediately available funds if
        appropriate wire transfer instructions have been received in writing by the Trustee not less than 15 days prior to the applicable Interest Payment Date. The Notes of each series may be presented for exchange and registration of transfer at the
        Corporate Trust Office of the Trustee in the Borough of Manhattan, The City of New York, or at the office or agency of the Trustee maintained for that purpose in the Borough of Manhattan, The City of New York or at the office of any transfer agent
        hereafter designated by the Company for such purpose. Notices and demands to or upon the Company in respect of the Notes of any series and the Indenture may be mailed by regular mail, sent by overnight courier, delivered, e-mailed or faxed to
        Occidental Petroleum Corporation, 5 Greenway Plaza, Suite 110, Houston, Texas 77046, Attention: Treasurer, e-mail: TreasuryFinance@oxy.com, or, in each case, at any other address, fax number or e-mail address previously furnished by the Company by
        notice to the Trustee for itself and for the benefit of the Holders.

    

    

    (viii)      Redemption. The Notes of each series are not
        entitled to any mandatory redemption or sinking fund payments. The Notes of each series are redeemable, in whole at any time or in part from time to time, at the option of the Company on the terms and subject to the conditions set forth in the form
        of certificate evidencing the Notes of such series attached as an exhibit hereto and in the Indenture.

     

      

    (ix)         Denominations. The Notes of each series are
        issuable in denominations of $2,000 and integral multiples of $1,000 in excess thereof.

     

      

    (x)         Security Register; Paying Agent. The Security
        Register for the Notes of each series will be initially maintained at the Corporate Trust Office of the Trustee in the Borough of Manhattan, The City of New York or at the office of any transfer agent hereafter designated by the Company for such
        purpose. The Company hereby appoints the Trustee as the initial Securities Registrar, transfer agent and Paying Agent for the Notes of each series.

     

      

    (xi)        Further Issues. The Company may, from time to
        time, without notice to or the consent of the Holders of the Notes of any series, reopen the Notes of such series and issue additional Notes of such series.

     

      

    (xii)       Form. The certificates evidencing the Notes of
        each series will be in substantially the form set forth in Exhibit A, in the case of the 2025 Notes, Exhibit B, in the case of the 2027 Notes and Exhibit C, in the case of the 2030 Notes, each attached hereto; provided that if Definitive Notes of any series are issued in exchange for interests in Global Notes of such series, then the legend appearing on the first page and the “Schedule of Exchanges of Interests in
        the Global Note” appearing on the last page (and all references thereto) of the certificate evidencing the Notes  of such series attached as an exhibit hereto, shall be removed from the Definitive Notes of such series. The Notes of each series
        shall have such other terms and provisions as are set forth in the form of certificate evidencing the Notes of such series attached as an exhibit hereto, all of which terms and provisions are incorporated by reference in and made a part of this
        Officer’s Certificate as if set forth in full herein.

     

    

    
      3

      
        

    

    (xiii)      Tax Withholding. In order for the Trustee to
        comply with Applicable Law that a foreign financial institution, or issuer, trustee, paying agent, holder or other institution is or has agreed to be subject to related to the Indenture, the Company agrees (i) to provide the Trustee sufficient
        information about Holders or other applicable parties and/or transactions (including any modification to the terms of such transactions) in the Company’s possession that is reasonably requested by the Trustee so that the Trustee can determine
        whether it has tax related obligations under Applicable Law, and (ii) that the Trustee and the Paying Agent shall be entitled to make any withholding or deduction from payments under the Indenture to the extent necessary to comply with Applicable
        Law.

     

      

    Terms (whether or not capitalized) that are defined in the Indenture and not otherwise defined herein have the meanings specified in the Indenture.

     

    

    The undersigned, for himself or herself, states, as an officer of the Company, not in his or her individual capacity, that he or she has read and is familiar with the
      provisions of Sections 102 and 103 of the Indenture relating to the requirements as to content and form of this certificate, Article Two of the Indenture relating to the establishment of the form of certificate representing a series of
      Securities thereunder and Article Three of the Indenture relating to the establishment of a series of Securities thereunder and, in each case, the definitions therein relating thereto; that the statements made in this certificate are based
      upon an examination of the Notes of each series, upon an examination of and familiarity with Articles Two and Three of the Indenture and such definitions, upon his or her general knowledge of and familiarity with the affairs of the
      Company and its acts and proceedings and upon the performance of his or her duties as an officer of the Company; that, in his or her opinion, he or she has made such examination or investigation as is necessary to enable him or her to express an
      informed opinion as to whether or not the covenants and conditions referred to above have been complied with; and that in his or her opinion, with respect to the foregoing, the covenants and conditions provided for in the Indenture relating to the
      establishment of the Notes of each series as a series of Securities under the Indenture, and the Trustee’s authentication of such Notes, have been complied with.

     

    

    [signature page follows]

     

    

    
      4

      
        

    

    IN WITNESS WHEREOF, the undersigned has hereunto signed this certificate on behalf of the Company as of this 13th day of July, 2020.

     

    

    	 	
            OCCIDENTAL PETROLEUM CORPORATION

          
	 	 	 
	 	
            By:

          	
            /s/ Jaime Casas

          
	 	
            Name:

          	
            Jaime Casas

          
	 	
            Title:

          	
            Vice President and Treasurer

          

    

    

     

    

    [Signature Page to Officer’s Certificate Establishing the Notes]

    
      
        

    

    Exhibit A

     

      

    Form of Certificate Evidencing the 8.000% Senior Notes due 2025

    

    

    [see attached]

     

    

     

    

    
      
        

    

    UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER,
      EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
      REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

     

    

    OCCIDENTAL PETROLEUM CORPORATION

    

    

    8.000% SENIOR NOTE DUE 2025

     

    

    	
            NO.                                               R-

            

          	
            

            

          	
            PRINCIPAL AMOUNT:

          
	 	 	
            U.S.$

          
	 	 	 
	CUSIP: 674599 DY8 

          	 	
            

            

          
	ISIN: US674599DY89 

          	 	
            

            

          

    

    

    	
            ORIGINAL ISSUE DATE:

          	
            July 13, 2020

          
	 	 
	
            MATURITY DATE:

          	
            July 15, 2025

          
	 	 
	
            INTEREST RATE:

          	
            8.000% per annum

          
	 	 
	
            INTEREST PAYMENT DATES:

          	
            July 15 and January 15, commencing January 15, 2021

          
	 	 
	
            REGULAR RECORD DATES:

          	
            July 1 and January 1

          
	 	 
	
            REDEMPTION DATE/PRICE:

          	
            See Further Provisions Set Forth Herein

          

     

    

    
      
        

    

    
    OCCIDENTAL PETROLEUM CORPORATION, a corporation duly organized and existing under the laws of the State of Delaware (herein referred to as the “Company,” which term includes any successor under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the lesser of (i) the Principal Amount
      specified above and (ii) the Principal Amount set forth on the Schedule of Exchanges of Interests in the Global Note attached hereto on the Maturity Date specified above (unless and to the extent earlier redeemed prior to such Maturity Date) and to
      pay interest thereon from July 13, 2020 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on July 15 and January 15 in each year, commencing on January 15, 2021, at the rate
      per annum specified above, until the principal hereof is paid or made available for payment. Interest on this Note will be computed on the basis of a 360-day year comprised of twelve 30-day months. Interest payments for this Note will include
      interest accrued to but excluding each Interest Payment Date. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Note (or one or
      more Predecessor Securities) is registered at the close of business on the Regular Record Date, which shall be the July 1 or January 1 (whether or not a Business Day), as the case may be, immediately preceding such Interest Payment Date. If any
      Interest Payment Date or Maturity with respect to this Note falls on a day that is not a Business Day, the payment due on such Interest Payment Date or Maturity will be made on the next succeeding Business Day with the same force and effect as if
      made on such Interest Payment Date or Maturity, and no interest shall accrue on the amount so payable for the period from and after such Interest Payment Date or Maturity, as the case may be, until such following Business Day. Except as otherwise
      provided in the Indenture, any Defaulted Interest will forthwith cease to be payable to the Holder on the Regular Record Date with respect to such Interest Payment Date by virtue of having been such Holder and may either (1) be paid to the Person in
      whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee (as defined below), notice of which will be given to
      Holders of Notes not less than 10 days prior to such Special Record Date, or (2) be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice
      as may be required by such exchange, all as more fully provided in the Indenture. Payment of the principal of and interest on this Note will be made at the Corporate Trust Office of the Trustee in the Borough of Manhattan, The City of New York, or at
      the office or agency of the Trustee maintained for that purpose in the Borough of Manhattan, The City of New York, or at any other office or agency designated by the Company for such purpose, in such coin or currency of the United States of America
      as at the time of payment is legal tender for payment of public and private debts; provided that, at the option of the Company, payment of interest due on any Interest Payment Date may be made by check
      mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or by wire transfer of immediately available funds if appropriate wire transfer instructions have been received in writing by the Trustee not
      less than 15 days prior to the applicable Interest Payment Date.

     

    

    Reference is hereby made to the further provisions of this Note set forth below, which further provisions shall for all purposes have the same effect as if set forth
      at this place.

     

    

    Unless the certificate of authentication hereon has been executed by the Trustee or its duly appointed co-authenticating agent by manual signature, this Note shall not
      be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

     

    

    [signature page follows]

    

    

    
      
        

    

    IN WITNESS WHEREOF, OCCIDENTAL PETROLEUM CORPORATION has caused this Note to be signed by the signature or facsimile signature of its Chairman of the Board, its
      President, a Vice President, its Treasurer or an Assistant Treasurer.

     

    

    Dated:

     

    

    	 	
            OCCIDENTAL PETROLEUM CORPORATION

          
	 	 	 
	 	
            By:

          	   

          
	 	
            Name:

          	 
	 	
            Title:

          	 

    

    

    
       

      

      Signature Page to Note

    

    
      
        

    

    TRUSTEE’S CERTIFICATE OF AUTHENTICATION

     

    

    This is one of the Securities of the series designated therein referred to in the within- mentioned Indenture.

    

    

    Dated:

    

    

    The Bank of New York Mellon Trust Company, N.A., as Trustee

    

    

    	
            By:

          	   

          	 
	 	
            Authorized Signatory

          	 

    

    

    

    

    
      Signature Page to Trustee’s Certificate of Authentication

    

    
      
        

    

    This Note is one of a duly authorized issue of securities (herein called the “Securities”) of the Company, issued and to be
      issued pursuant to the Indenture. This Note is one of a series designated by the Company as its 8.000% Senior Notes due 2025 (the “Notes”), limited in initial aggregate principal amount to $500,000,000. The
      Indenture does not limit the aggregate principal amount of the Securities.

     

    

    The Company issued this Note pursuant to an Indenture, dated as of August 8, 2019 (herein called the “Indenture” which term,
      for the purpose of this Note, shall include the Officer’s Certificate dated July 13, 2020, delivered pursuant to Sections 201 and 301 of the Indenture), between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee (herein
      called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective
      rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered.

     

    

    The Notes are issuable in denominations of $2,000 and any amount in excess thereof which is an integral multiple of $1,000. As provided in the Indenture and subject to
      certain limitations therein set forth, the Notes are exchangeable for a like aggregate principal amount of Notes of like tenor of any authorized denomination, as requested by the Holder surrendering the same, upon surrender of the Note or Notes to be
      exchanged at any office or agency described below where Notes may be presented for registration of transfer.

     

    

    The Company may, from time to time, without notice to or the consent of the Holders of the Notes, reopen the Notes and issue additional Notes.

     

    

    The Notes are redeemable, in whole at any time or in part from time to time prior to April 15, 2025 (the “Par Call Date”), at
      the option of the Company at a Redemption Price equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed and (ii) as determined by the Quotation Agent, the sum of the present values of the remaining scheduled payments of
      principal and interest on the Notes to be redeemed through the Par Call Date (not including any portion of such payments of interest accrued to, but not including, the Redemption Date) discounted to the Redemption Date on a semi-annual basis
      (assuming a 360-day year comprised of twelve 30-day months) at the Treasury Rate (as defined herein) plus 50 basis points plus, in each case, accrued and unpaid interest on the principal amount of the Notes being redeemed to, but not including, the
      Redemption Date.  On and after the Par Call Date, the Notes are redeemable, in whole at any time or in part from time to time, at the option of the Company at a Redemption Price equal to 100% of the principal amount of the Notes to be redeemed, plus
      accrued and unpaid interest on the principal amount of the Notes being redeemed to, but not including, the Redemption Date. Notwithstanding the foregoing, installments of interest whose Stated Maturity is on or prior to the relevant Redemption Date
      shall be payable to the Holders of the Notes, or one or more Predecessor Securities, of record at the close of business on the relevant Regular Record Dates according to their terms and the provisions of the Indenture.

     

    

    
      
        

    

    
     “Treasury Rate” means, with respect to any Redemption Date, the rate per annum, as determined by the Quotation Agent, equal
      to:

     

    

    
      
        	

              	●	
                the yield, under the heading that represents the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15” or any successor publication that is published weekly by the
                  Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity
                  corresponding to the Comparable Treasury Issue; provided that if no maturity is within three months before or after the remaining term of the Notes to be redeemed (assuming, for this purpose, that the Notes mature on the Par Call Date),
                  yields for the two published maturities most closely corresponding to the Comparable Treasury Issue will be determined and the Treasury Rate will be interpolated or extrapolated from those yields on a straight-line basis rounding to the
                  nearest month; or

              

         

        

      

    

    
      
        	

              	●	
                if that release, or any successor release, is not published during the week preceding the calculation date or does not contain such yields, the rate per year equal to the semi-annual equivalent yield to maturity of the Comparable
                  Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for that Redemption Date.

              

      

    

     

    

    The Treasury Rate will be calculated at 5:00 p.m. (New York City time) on the third Business Day preceding the Redemption Date by the Quotation Agent.

     

    

    “Comparable Treasury Issue” means, with respect to any Redemption Date, the United States Treasury security selected by the
      Quotation Agent that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Notes (assuming, for this
      purpose, that the Notes mature on the Par Call Date).

     

    

    “Comparable Treasury Price” means, with respect to any Redemption Date, (1) the average of the Reference Treasury Dealer
      Quotations for such Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Quotation Agent obtains fewer than three Reference Treasury Dealer Quotations, the average of all such Reference Treasury
      Dealer Quotations, such average in any case to be determined by the Quotation Agent, or (3) if only one Reference Treasury Dealer Quotation is received, such Reference Treasury Dealer Quotation.

     

    

    “Quotation Agent” means, with respect to any Redemption Date, the Reference Treasury Dealer appointed by the Company.

     

    

    “Reference Treasury Dealer” means, with respect to any Redemption Date, each of (1) Citigroup Global Markets Inc., J.P. Morgan
      Securities LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC (or their respective affiliates that are primary U.S. Government securities dealers) and their respective successors; provided, however, that if any of them shall cease to be a
      primary U.S. Government securities dealer in the United States of America (a “Primary Treasury Dealer”), the Company shall substitute for it another Primary Treasury Dealer; and (2) any other Primary Treasury
      Dealer or Dealers selected by the Company.

     

    

    
      
        

    

    “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the
      average, as determined by the Quotation Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Quotation Agent by such Reference Treasury Dealer
      at 5:00 p.m. (New York City time) on the third Business Day in The City of New York preceding such Redemption Date.

     

    

    Notice of any redemption will be sent at least 10 days but not more than 60 days before the Redemption Date to each Holder of the Notes to be redeemed, all as more
      fully provided in the Indenture. Unless the Company defaults in payment of the Redemption Price (or any accrued and unpaid interest on the Notes or portions thereof to be redeemed), on and after the Redemption Date interest will cease to accrue on
      the Notes or portions thereof called for redemption. If less than all of the Notes are to be redeemed, the Notes (or portions thereof) to be redeemed shall be selected, in the case of Global Notes, in accordance with the policies and procedures of
      the depository or, in the case of Definitive Notes, by the Trustee by such method as the Trustee shall deem fair and appropriate, all as more fully provided in the Indenture.

     

    

    All notices of redemption shall state the Redemption Date, the Redemption Price (or, if not then ascertainable, the manner of calculation thereof), if fewer than all
      the Outstanding Notes are to be redeemed, the identification (and, in the case of partial redemption, the principal amounts) of the particular Notes to be redeemed, that on the Redemption Date the Redemption Price will become due and payable upon
      each Note, or portion thereof, to be redeemed, together with accrued and unpaid interest thereon, that interest on each Note, or portion thereof, called for redemption will cease to accrue on the Redemption Date and the place or places where Notes
      may be surrendered for redemption.

     

    

    In the event of redemption of this Note in part only, a new Note or Notes of like tenor in an aggregate principal amount equal to and in exchange for the unredeemed
      portion of the principal amount hereof will be issued in authorized denominations in the name of the Holder hereof upon surrender hereof.

     

    

    For all purposes of this Note and the Indenture, unless the context otherwise requires, all provisions relating to the redemption by the Company of this Note shall
      relate, in the case that this Note is redeemed, or to be redeemed, by the Company only in part, to that portion of the principal amount of this Note that has been, or is to be, redeemed.

     

    

    If an Event of Default with respect to the Notes shall occur and be continuing, the principal of and accrued interest on the Notes may be declared due and payable in
      the manner and with the effect provided in the Indenture.

     

    

    
      
        

    

    The Indenture permits, in certain circumstances therein specified, the amendment thereof without the consent of the Holders of the Securities. The Indenture also
      permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations under the Indenture of the Company and the rights of Holders of the Securities of each series to be affected under the
      Indenture at any time by the Company and the Trustee with the consent of (i) the Holders of not less than a majority in principal amount of the Outstanding Securities of all series voting as a single class or (ii) if fewer than all of the series of
      the Outstanding Securities are affected by such addition, change, elimination, or modification, the Holders of not less than a majority in principal amount of the Outstanding Securities of all series so affected voting as a single class (including,
      for the avoidance of doubt, consents obtained in connection with a purchase of, or tender offer or exchange for, such debt securities). The Indenture also contains provisions permitting the Holders of not less than a majority in aggregate principal
      amount of the Outstanding Securities of any series, on behalf of the Holders of all Outstanding Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and
      their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor
      or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note.

     

    

    No reference herein to the Indenture and no provision of this Note, subject to the provisions for satisfaction and discharge in Article Four of the Indenture, shall
      alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed.

     

    

    The Indenture permits the Company, by irrevocably depositing cash or U.S. Government Obligations, in amounts and maturities sufficient to pay and discharge at the
      Stated Maturity or Redemption Date, as the case may be, the entire indebtedness on all Outstanding Notes with the Trustee in trust, solely for the benefit of the Holders of all Outstanding Notes, to defease the Indenture with respect to the Notes
      (subject to specified exceptions), and, upon such deposit and satisfaction of the other conditions set forth in the Indenture, the Company shall be deemed to have paid and discharged its entire indebtedness on the Notes.

     

    

    As provided in the Indenture and subject to certain limitations therein set forth, the transfer of Notes is registrable in the Security Register, upon surrender of a
      Note for registration of transfer at the Corporate Trust Office of the Trustee or at the office or agency of the Trustee maintained for such purpose in the Borough of Manhattan, The City of New York, or at such other offices or agencies as the
      Company may designate, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by the Holder thereof or his attorney duly authorized in writing, and thereupon
      one or more new Notes of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.

     

    

    No service charge shall be made by the Company, the Trustee or the Security Registrar for any such registration of transfer or exchange, but the Company may require
      payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith (other than exchanges pursuant to Sections 304, 305, 906 or 1107 of the Indenture not involving any transfer).

     

    

    Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose
      name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

     

    

    
      
        

    

    This Note shall be governed by and construed in accordance with the law of the State of New York (without regard to conflicts of laws principles thereof).

     

    

    Customary abbreviations may be used in the name of a Holder or an assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint
      tenants with right of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act).

     

    

    All undefined terms (whether or not capitalized) used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

    

    

    
      
        

    

    ASSIGNMENT FORM

     

    

    To assign this Note, fill in the form below:

     

    

    	
            (I) or (we) assign and transfer this Note to

          
	 
	 
	
            (Insert assignee’s soc. sec. or tax I.D. no.)

          
	 
	 
	 
	 
	 
	 
	 
	 
	
            (Print or type assignee’s name, address and zip code)

          

    

    

    and irrevocably appoint ________________________________________________________________________ to transfer this Note on the books of the Company. The agent may substitute another to
      act for him.

     

    

    

    	 	 
	 	 	 
	 	 	 
	
            Date:

          	 	 
	 	
            Your Signature:

          	  

          
	 	 	
            (Sign exactly as your name(s)

            appear(s) on the face of this Note)

          
	 	 	 
	
            Signature Guarantee*

          	 	 
	 	 	 
	 	 	 

    

    

    *NOTICE: The signature must be guaranteed by an institution that is a member of one of the following recognized signature guarantee programs: (i) The Securities Transfer Agent Medallion
      Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) such other guarantee program acceptable to the Trustee.

     

    

    
      
        

    

    SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE

     

    

    The initial outstanding principal amount of this Global Note is $                         . The following exchanges of an interest in this Global Note for an interest
      in another Global Note or for a Definitive Note, or exchanges of an interest in another Global Note or Definitive Notes for an interest in this Global Note, have been made:

     

    

    	
            
              Date of Exchange

            

          	 	
            
              Amount of

              Decrease in

              Principal

              Amount of this

              Global Note

            

          	 	 	
            
              Amount of

              Increase in

              Principal

              Amount of this

              Global Note

            

          	 	 	
            
              Principal Amount

              of this Global

              Note Following

              Such Decrease

              (or Increase)

            

          	 	 	
            
              Signature of

              Authorized

              Officer of

              Trustee or

              Security

              Custodian

            

          	 
	

          	 	

          	

          	 	 	

          	

          	 	 	

          	

          	 	 	

          	

          	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

    

    

    
      
        

    

    Exhibit B

     

      

    Form of Certificate Evidencing the 8.500% Senior Notes due 2027

    

    

    [see attached]

     

    

     

    

    
      
        

    

    
    UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER,
      EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
      REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

     

    

    OCCIDENTAL PETROLEUM CORPORATION

    

    

    8.500% SENIOR NOTE DUE 2027

     

    

    	
            NO.                                               R-

            

          	
            PRINCIPAL AMOUNT:

          
	 	
            U.S.$

          
	 	 
	CUSIP: 674599 DZ5 

          	

          
	ISIN: US674599DZ54 

          	
            

            

          

    

    

    	
            ORIGINAL ISSUE DATE:

          	
            July 13, 2020

          
	 	 
	
            MATURITY DATE:

          	
            July 15, 2027

          
	 	 
	
            INTEREST RATE:

          	
            8.500% per annum

          
	 	 
	
            INTEREST PAYMENT DATES:

          	
            July 15 and January 15, commencing January 15, 2021

          
	 	 
	
            REGULAR RECORD DATES:

          	
            July 1 and January 1

          
	 	 
	
            REDEMPTION DATE/PRICE:

          	
            See Further Provisions Set Forth Herein

          

     

    

    
      
        

    

    OCCIDENTAL PETROLEUM CORPORATION, a corporation duly organized and existing under the laws of the State of Delaware (herein referred to as the “Company,” which term includes any successor under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the lesser of (i) the Principal Amount
      specified above and (ii) the Principal Amount set forth on the Schedule of Exchanges of Interests in the Global Note attached hereto on the Maturity Date specified above (unless and to the extent earlier redeemed prior to such Maturity Date) and to
      pay interest thereon from July 13, 2020 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on July 15 and January 15 in each year, commencing on January 15, 2021, at the rate
      per annum specified above, until the principal hereof is paid or made available for payment. Interest on this Note will be computed on the basis of a 360-day year comprised of twelve 30-day months. Interest payments for this Note will include
      interest accrued to but excluding each Interest Payment Date. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Note (or one or
      more Predecessor Securities) is registered at the close of business on the Regular Record Date, which shall be the July 1 or January 1 (whether or not a Business Day), as the case may be, immediately preceding such Interest Payment Date. If any
      Interest Payment Date or Maturity with respect to this Note falls on a day that is not a Business Day, the payment due on such Interest Payment Date or Maturity will be made on the next succeeding Business Day with the same force and effect as if
      made on such Interest Payment Date or Maturity, and no interest shall accrue on the amount so payable for the period from and after such Interest Payment Date or Maturity, as the case may be, until such following Business Day. Except as otherwise
      provided in the Indenture, any Defaulted Interest will forthwith cease to be payable to the Holder on the Regular Record Date with respect to such Interest Payment Date by virtue of having been such Holder and may either (1) be paid to the Person in
      whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee (as defined below), notice of which will be given to
      Holders of Notes not less than 10 days prior to such Special Record Date, or (2) be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice
      as may be required by such exchange, all as more fully provided in the Indenture. Payment of the principal of and interest on this Note will be made at the Corporate Trust Office of the Trustee in the Borough of Manhattan, The City of New York, or at
      the office or agency of the Trustee maintained for that purpose in the Borough of Manhattan, The City of New York, or at any other office or agency designated by the Company for such purpose, in such coin or currency of the United States of America
      as at the time of payment is legal tender for payment of public and private debts; provided that, at the option of the Company, payment of interest due on any Interest Payment Date may be made by check
      mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or by wire transfer of immediately available funds if appropriate wire transfer instructions have been received in writing by the Trustee not
      less than 15 days prior to the applicable Interest Payment Date.

     

    

    Reference is hereby made to the further provisions of this Note set forth below, which further provisions shall for all purposes have the same effect as if set forth
      at this place.

     

    

    Unless the certificate of authentication hereon has been executed by the Trustee or its duly appointed co-authenticating agent by manual signature, this Note shall not
      be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

     

    

    [signature page follows]

    

    

    
      
        

    

    IN WITNESS WHEREOF, OCCIDENTAL PETROLEUM CORPORATION has caused this Note to be signed by the signature or facsimile signature of its Chairman of the Board, its
      President, a Vice President, its Treasurer or an Assistant Treasurer.

     

    

    Dated:

     

    

    	 	
            OCCIDENTAL PETROLEUM CORPORATION

          
	 	 	 
	 	
            By:

          	 
	 	
            Name:

          	 
	 	
            Title:

          	 

    

    

    
       

      

      Signature Page to Note

    

    
      
        

    

    TRUSTEE’S CERTIFICATE OF AUTHENTICATION

     

    

    This is one of the Securities of the series designated therein referred to in the within- mentioned Indenture.

    

    

    Dated:

    

    

    The Bank of New York Mellon Trust Company, N.A., as Trustee

    

    

    	
            By:

          	    

          	 
	 	
            Authorized Signatory

          	 

    

    

    

    

    
      Signature Page to Trustee’s Certificate of Authentication

    

    
      
        

    

    This Note is one of a duly authorized issue of securities (herein called the “Securities”) of the Company, issued and to be
      issued pursuant to the Indenture. This Note is one of a series designated by the Company as its 8.500% Senior Notes due 2027 (the “Notes”), limited in initial aggregate principal amount to $500,000,000. The
      Indenture does not limit the aggregate principal amount of the Securities.

     

    

    The Company issued this Note pursuant to an Indenture, dated as of August 8, 2019 (herein called the “Indenture” which term,
      for the purpose of this Note, shall include the Officer’s Certificate dated July 13, 2020, delivered pursuant to Sections 201 and 301 of the Indenture), between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee (herein
      called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective
      rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered.

     

    

    The Notes are issuable in denominations of $2,000 and any amount in excess thereof which is an integral multiple of $1,000. As provided in the Indenture and subject to
      certain limitations therein set forth, the Notes are exchangeable for a like aggregate principal amount of Notes of like tenor of any authorized denomination, as requested by the Holder surrendering the same, upon surrender of the Note or Notes to be
      exchanged at any office or agency described below where Notes may be presented for registration of transfer.

     

    

    The Company may, from time to time, without notice to or the consent of the Holders of the Notes, reopen the Notes and issue additional Notes.

     

    

    The Notes are redeemable, in whole at any time or in part from time to time prior to January 15, 2027 (the “Par Call Date”), at
      the option of the Company at a Redemption Price equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed and (ii) as determined by the Quotation Agent, the sum of the present values of the remaining scheduled payments of
      principal and interest on the Notes to be redeemed through the Par Call Date (not including any portion of such payments of interest accrued to, but not including, the Redemption Date) discounted to the Redemption Date on a semi-annual basis
      (assuming a 360-day year comprised of twelve 30-day months) at the Treasury Rate (as defined herein) plus 50 basis points plus, in each case, accrued and unpaid interest on the principal amount of the Notes being redeemed to, but not including, the
      Redemption Date.  On and after the Par Call Date, the Notes are redeemable, in whole at any time or in part from time to time, at the option of the Company at a Redemption Price equal to 100% of the principal amount of the Notes to be redeemed, plus
      accrued and unpaid interest on the principal amount of the Notes being redeemed to, but not including, the Redemption Date. Notwithstanding the foregoing, installments of interest whose Stated Maturity is on or prior to the relevant Redemption Date
      shall be payable to the Holders of the Notes, or one or more Predecessor Securities, of record at the close of business on the relevant Regular Record Dates according to their terms and the provisions of the Indenture.

     

    

    
      
        

    

    
    “Treasury Rate” means, with respect to any Redemption Date, the rate per annum, as determined by the Quotation Agent, equal to:

     

    

    
      
        	

              	●	
                the yield, under the heading that represents the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15” or any successor publication that is published weekly by the
                  Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity
                  corresponding to the Comparable Treasury Issue; provided that if no maturity is within three months before or after the remaining term of the Notes to be redeemed (assuming, for this purpose, that the Notes mature on the Par Call Date),
                  yields for the two published maturities most closely corresponding to the Comparable Treasury Issue will be determined and the Treasury Rate will be interpolated or extrapolated from those yields on a straight-line basis rounding to the
                  nearest month; or

              

         

        

      

    

    
      
        	

              	●	
                if that release, or any successor release, is not published during the week preceding the calculation date or does not contain such yields, the rate per year equal to the semi-annual equivalent yield to maturity of the Comparable
                  Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for that Redemption Date.

              

      

    

     

    

    The Treasury Rate will be calculated at 5:00 p.m. (New York City time) on the third Business Day preceding the Redemption Date by the Quotation Agent.

     

    

    “Comparable Treasury Issue” means, with respect to any Redemption Date, the United States Treasury security selected by the
      Quotation Agent that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Notes (assuming, for this
      purpose, that the Notes mature on the Par Call Date).

     

    

    “Comparable Treasury Price” means, with respect to any Redemption Date, (1) the average of the Reference Treasury Dealer
      Quotations for such Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Quotation Agent obtains fewer than three Reference Treasury Dealer Quotations, the average of all such Reference Treasury
      Dealer Quotations, such average in any case to be determined by the Quotation Agent, or (3) if only one Reference Treasury Dealer Quotation is received, such Reference Treasury Dealer Quotation.

     

    

    “Quotation Agent” means, with respect to any Redemption Date, the Reference Treasury Dealer appointed by the Company.

     

    

    “Reference Treasury Dealer” means, with respect to any Redemption Date, each of (1) Citigroup Global Markets Inc., J.P. Morgan
      Securities LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC (or their respective affiliates that are primary U.S. Government securities dealers) and their respective successors; provided, however, that if any of them shall cease to be a
      primary U.S. Government securities dealer in the United States of America (a “Primary Treasury Dealer”), the Company shall substitute for it another Primary Treasury Dealer; and (2) any other Primary Treasury
      Dealer or Dealers selected by the Company.

     

    

    
      
        

    

    “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the
      average, as determined by the Quotation Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Quotation Agent by such Reference Treasury Dealer
      at 5:00 p.m. (New York City time) on the third Business Day in The City of New York preceding such Redemption Date.

     

    

    Notice of any redemption will be sent at least 10 days but not more than 60 days before the Redemption Date to each Holder of the Notes to be redeemed, all as more
      fully provided in the Indenture. Unless the Company defaults in payment of the Redemption Price (or any accrued and unpaid interest on the Notes or portions thereof to be redeemed), on and after the Redemption Date interest will cease to accrue on
      the Notes or portions thereof called for redemption. If less than all of the Notes are to be redeemed, the Notes (or portions thereof) to be redeemed shall be selected, in the case of Global Notes, in accordance with the policies and procedures of
      the depository or, in the case of Definitive Notes, by the Trustee by such method as the Trustee shall deem fair and appropriate, all as more fully provided in the Indenture.

     

    

    All notices of redemption shall state the Redemption Date, the Redemption Price (or, if not then ascertainable, the manner of calculation thereof), if fewer than all
      the Outstanding Notes are to be redeemed, the identification (and, in the case of partial redemption, the principal amounts) of the particular Notes to be redeemed, that on the Redemption Date the Redemption Price will become due and payable upon
      each Note, or portion thereof, to be redeemed, together with accrued and unpaid interest thereon, that interest on each Note, or portion thereof, called for redemption will cease to accrue on the Redemption Date and the place or places where Notes
      may be surrendered for redemption.

     

    

    In the event of redemption of this Note in part only, a new Note or Notes of like tenor in an aggregate principal amount equal to and in exchange for the unredeemed
      portion of the principal amount hereof will be issued in authorized denominations in the name of the Holder hereof upon surrender hereof.

     

    

    For all purposes of this Note and the Indenture, unless the context otherwise requires, all provisions relating to the redemption by the Company of this Note shall
      relate, in the case that this Note is redeemed, or to be redeemed, by the Company only in part, to that portion of the principal amount of this Note that has been, or is to be, redeemed.

     

    

    If an Event of Default with respect to the Notes shall occur and be continuing, the principal of and accrued interest on the Notes may be declared due and payable in
      the manner and with the effect provided in the Indenture.

     

    

    The Indenture permits, in certain circumstances therein specified, the amendment thereof without the consent of the Holders of the Securities. The Indenture also
      permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations under the Indenture of the Company and the rights of Holders of the Securities of each series to be affected under the
      Indenture at any time by the Company and the Trustee with the consent of (i) the Holders of not less than a majority in principal amount of the Outstanding Securities of all series voting as a single class or (ii) if fewer than all of the series of
      the Outstanding Securities are affected by such addition, change, elimination, or modification, the Holders of not less than a majority in principal amount of the Outstanding Securities of all series so affected voting as a single class (including,
      for the avoidance of doubt, consents obtained in connection with a purchase of, or tender offer or exchange for, such debt securities). The Indenture also contains provisions permitting the Holders of not less than a majority in aggregate principal
      amount of the Outstanding Securities of any series, on behalf of the Holders of all Outstanding Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and
      their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor
      or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note.

     

    

    
      
        

    

    No reference herein to the Indenture and no provision of this Note, subject to the provisions for satisfaction and discharge in Article Four of the Indenture, shall
      alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed.

     

    

    The Indenture permits the Company, by irrevocably depositing cash or U.S. Government Obligations, in amounts and maturities sufficient to pay and discharge at the
      Stated Maturity or Redemption Date, as the case may be, the entire indebtedness on all Outstanding Notes with the Trustee in trust, solely for the benefit of the Holders of all Outstanding Notes, to defease the Indenture with respect to the Notes
      (subject to specified exceptions), and, upon such deposit and satisfaction of the other conditions set forth in the Indenture, the Company shall be deemed to have paid and discharged its entire indebtedness on the Notes.

     

    

    As provided in the Indenture and subject to certain limitations therein set forth, the transfer of Notes is registrable in the Security Register, upon surrender of a
      Note for registration of transfer at the Corporate Trust Office of the Trustee or at the office or agency of the Trustee maintained for such purpose in the Borough of Manhattan, The City of New York, or at such other offices or agencies as the
      Company may designate, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by the Holder thereof or his attorney duly authorized in writing, and thereupon
      one or more new Notes of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.

     

    

    No service charge shall be made by the Company, the Trustee or the Security Registrar for any such registration of transfer or exchange, but the Company may require
      payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith (other than exchanges pursuant to Sections 304, 305, 906 or 1107 of the Indenture not involving any transfer).

     

    

    Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose
      name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

     

    

    This Note shall be governed by and construed in accordance with the law of the State of New York (without regard to conflicts of laws principles thereof).

     

    

    Customary abbreviations may be used in the name of a Holder or an assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint
      tenants with right of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act).

     

    

    All undefined terms (whether or not capitalized) used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

    

    

    
      
        

    

    ASSIGNMENT FORM

    To assign this Note, fill in the form below:

     

    

    	
            (I) or (we) assign and transfer this Note to

          
	 
	 
	
            (Insert assignee’s soc. sec. or tax I.D. no.)

          
	 
	 
	 
	 
	 
	 
	 
	 
	
            (Print or type assignee’s name, address and zip code)

          

    

    

    
      and irrevocably appoint ________________________________________________________________________ to transfer this Note on the books of the Company. The agent may substitute another to act for him.

    

    

    

    	 	 	 
	 	 	 
	
            Date:

          	 	 
	
            

            

          	
            Your Signature:

          	   

          
	 	 	
            (Sign exactly as your name(s)

            appear(s) on the face of this Note)

          
	 	 	 
	
            Signature Guarantee*

          	 	 
	 	 	 
	 	 	 

    

    

    *NOTICE: The signature must be guaranteed by an institution that is a member of one of the following recognized signature guarantee programs: (i) The Securities Transfer Agent Medallion
      Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) such other guarantee program acceptable to the Trustee.

    

    

    
      
        

    

    SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE

     

    

    The initial outstanding principal amount of this Global Note is $                         . The following exchanges of an interest in this Global Note for an interest
      in another Global Note or for a Definitive Note, or exchanges of an interest in another Global Note or Definitive Notes for an interest in this Global Note, have been made:

     

    

    	
            
              Date of Exchange

            

          	 	
            
              Amount of

              Decrease in

              Principal

              Amount of this

              Global Note

            

          	 	 	
            
              Amount of

              Increase in

              Principal

              Amount of this

              Global Note

            

          	 	 	
            
              Principal Amount

              of this Global

              Note Following

              Such Decrease

              (or Increase)

            

          	 	 	
            
              Signature of

              Authorized

              Officer of

              Trustee or

              Security

              Custodian

            

          	 
	

          	 	 	

          	 	 	 	

          	 	 	 	

          	 	 	 	

          	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

    

    

    
      
        

    

    Exhibit C

     

    

    Form of Certificates Evidencing the 8.875% Senior Notes due 2030

    

    

    [see attached]

     

    

     

    

    
      
        

    

    UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER,
      EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
      REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

     

    

    OCCIDENTAL PETROLEUM CORPORATION

    

    

    8.875% SENIOR NOTE DUE 2030

     

    

    	
            NO.                                               R-

            

          	
            PRINCIPAL AMOUNT:

          
	 	
            U.S.$

          
	 	 
	CUSIP: 674599 EA9 

          	
            

            

          
	ISIN: US674599EA94 

          	
            

            

          

    

    

    	
            ORIGINAL ISSUE DATE:

          	
            July 13, 2020

          
	 	 
	
            MATURITY DATE:

          	
            July 15, 2030

          
	 	 
	
            INTEREST RATE:

          	
            8.875% per annum

          
	 	 
	
            INTEREST PAYMENT DATES:

          	
            July 15 and January 15, commencing January 15, 2021

          
	 	 
	
            REGULAR RECORD DATES:

          	
            July 1 and January 1

          
	 	 
	
            REDEMPTION DATE/PRICE:

          	
            See Further Provisions Set Forth Herein

          

     

    

    
      
        

    

    OCCIDENTAL PETROLEUM CORPORATION, a corporation duly organized and existing under the laws of the State of Delaware (herein referred to as the “Company,” which term includes any successor under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the lesser of (i) the Principal Amount
      specified above and (ii) the Principal Amount set forth on the Schedule of Exchanges of Interests in the Global Note attached hereto on the Maturity Date specified above (unless and to the extent earlier redeemed prior to such Maturity Date) and to
      pay interest thereon from July 13, 2020 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on July 15 and January 15 in each year, commencing on January 15, 2021, at the rate
      per annum specified above, until the principal hereof is paid or made available for payment. Interest on this Note will be computed on the basis of a 360-day year comprised of twelve 30-day months. Interest payments for this Note will include
      interest accrued to but excluding each Interest Payment Date. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Note (or one or
      more Predecessor Securities) is registered at the close of business on the Regular Record Date, which shall be the July 1 or January 1 (whether or not a Business Day), as the case may be, immediately preceding such Interest Payment Date. If any
      Interest Payment Date or Maturity with respect to this Note falls on a day that is not a Business Day, the payment due on such Interest Payment Date or Maturity will be made on the next succeeding Business Day with the same force and effect as if
      made on such Interest Payment Date or Maturity, and no interest shall accrue on the amount so payable for the period from and after such Interest Payment Date or Maturity, as the case may be, until such following Business Day. Except as otherwise
      provided in the Indenture, any Defaulted Interest will forthwith cease to be payable to the Holder on the Regular Record Date with respect to such Interest Payment Date by virtue of having been such Holder and may either (1) be paid to the Person in
      whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee (as defined below), notice of which will be given to
      Holders of Notes not less than 10 days prior to such Special Record Date, or (2) be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice
      as may be required by such exchange, all as more fully provided in the Indenture. Payment of the principal of and interest on this Note will be made at the Corporate Trust Office of the Trustee in the Borough of Manhattan, The City of New York, or at
      the office or agency of the Trustee maintained for that purpose in the Borough of Manhattan, The City of New York, or at any other office or agency designated by the Company for such purpose, in such coin or currency of the United States of America
      as at the time of payment is legal tender for payment of public and private debts; provided that, at the option of the Company, payment of interest due on any Interest Payment Date may be made by check
      mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or by wire transfer of immediately available funds if appropriate wire transfer instructions have been received in writing by the Trustee not
      less than 15 days prior to the applicable Interest Payment Date.

     

    

    Reference is hereby made to the further provisions of this Note set forth below, which further provisions shall for all purposes have the same effect as if set forth
      at this place.

     

    

    Unless the certificate of authentication hereon has been executed by the Trustee or its duly appointed co-authenticating agent by manual signature, this Note shall not
      be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

     

    

    [signature page follows]

     

    

    
      
        

    

    IN WITNESS WHEREOF, OCCIDENTAL PETROLEUM CORPORATION has caused this Note to be signed by the signature or facsimile signature of its Chairman of the Board, its
      President, a Vice President, its Treasurer or an Assistant Treasurer.

     

    

    Dated:

     

    

    	 	
            OCCIDENTAL PETROLEUM CORPORATION

          
	 	 	 
	 	
            By:

          	   

          
	 	
            Name:

          	 
	 	
            Title:

          	 

    

    

    
       

      

      Signature Page to Note

    

    
      
        

    

    TRUSTEE’S CERTIFICATE OF AUTHENTICATION

     

    

    This is one of the Securities of the series designated therein referred to in the within- mentioned Indenture.

    

    

    Dated:

    

    

    The Bank of New York Mellon Trust Company, N.A., as Trustee

    

    

    	
            By:

          	  

          	 
	 	
            Authorized Signatory

          	 

    

    

    

    

    
      Signature Page to Trustee’s Certificate of Authentication

    

    
      
        

    

    This Note is one of a duly authorized issue of securities (herein called the “Securities”) of the Company, issued and to be
      issued pursuant to the Indenture. This Note is one of a series designated by the Company as its 8.875% Senior Notes due 2030 (the “Notes”), limited in initial aggregate principal amount to $1,000,000,000. The
      Indenture does not limit the aggregate principal amount of the Securities.

     

    

    The Company issued this Note pursuant to an Indenture, dated as of August 8, 2019 (herein called the “Indenture” which term,
      for the purpose of this Note, shall include the Officer’s Certificate dated July 13, 2020, delivered pursuant to Sections 201 and 301 of the Indenture), between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee (herein
      called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective
      rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered.

     

    

    The Notes are issuable in denominations of $2,000 and any amount in excess thereof which is an integral multiple of $1,000. As provided in the Indenture and subject to
      certain limitations therein set forth, the Notes are exchangeable for a like aggregate principal amount of Notes of like tenor of any authorized denomination, as requested by the Holder surrendering the same, upon surrender of the Note or Notes to be
      exchanged at any office or agency described below where Notes may be presented for registration of transfer.

     

    

    The Company may, from time to time, without notice to or the consent of the Holders of the Notes, reopen the Notes and issue additional Notes.

     

    

    The Notes are redeemable, in whole at any time or in part from time to time prior to January 15, 2030 (the “Par Call Date”), at
      the option of the Company at a Redemption Price equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed and (ii) as determined by the Quotation Agent, the sum of the present values of the remaining scheduled payments of
      principal and interest on the Notes to be redeemed through the Par Call Date (not including any portion of such payments of interest accrued to, but not including, the Redemption Date) discounted to the Redemption Date on a semi-annual basis
      (assuming a 360-day year comprised of twelve 30-day months) at the Treasury Rate (as defined herein) plus 50 basis points plus, in each case, accrued and unpaid interest on the principal amount of the Notes being redeemed to, but not including, the
      Redemption Date.  On and after the Par Call Date, the Notes are redeemable, in whole at any time or in part from time to time, at the option of the Company at a Redemption Price equal to 100% of the principal amount of the Notes to be redeemed, plus
      accrued and unpaid interest on the principal amount of the Notes being redeemed to, but not including, the Redemption Date. Notwithstanding the foregoing, installments of interest whose Stated Maturity is on or prior to the relevant Redemption Date
      shall be payable to the Holders of the Notes, or one or more Predecessor Securities, of record at the close of business on the relevant Regular Record Dates according to their terms and the provisions of the Indenture.

     

    

    
      
        

    

    
     “Treasury Rate” means, with respect to any Redemption Date, the rate per annum, as determined by the Quotation Agent, equal
      to:

     

    

    
      
        	

              	●	
                the yield, under the heading that represents the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15” or any successor publication that is published weekly by the
                  Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity
                  corresponding to the Comparable Treasury Issue; provided that if no maturity is within three months before or after the remaining term of the Notes to be redeemed (assuming, for this purpose, that the Notes mature on the Par Call Date),
                  yields for the two published maturities most closely corresponding to the Comparable Treasury Issue will be determined and the Treasury Rate will be interpolated or extrapolated from those yields on a straight-line basis rounding to the
                  nearest month; or

              

         

        

      

    

    
      
        	

              	●	
                if that release, or any successor release, is not published during the week preceding the calculation date or does not contain such yields, the rate per year equal to the semi-annual equivalent yield to maturity of the Comparable
                  Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for that Redemption Date.

              

      

    

     

    

    The Treasury Rate will be calculated at 5:00 p.m. (New York City time) on the third Business Day preceding the Redemption Date by the Quotation Agent.

     

    

    “Comparable Treasury Issue” means, with respect to any Redemption Date, the United States Treasury security selected by the
      Quotation Agent that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Notes (assuming, for this
      purpose, that the Notes mature on the Par Call Date).

     

    

    “Comparable Treasury Price” means, with respect to any Redemption Date, (1) the average of the Reference Treasury Dealer
      Quotations for such Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Quotation Agent obtains fewer than three Reference Treasury Dealer Quotations, the average of all such Reference Treasury
      Dealer Quotations, such average in any case to be determined by the Quotation Agent, or (3) if only one Reference Treasury Dealer Quotation is received, such Reference Treasury Dealer Quotation.

     

    

    “Quotation Agent” means, with respect to any Redemption Date, the Reference Treasury Dealer appointed by the Company.

     

    

    “Reference Treasury Dealer” means, with respect to any Redemption Date, each of (1) Citigroup Global Markets Inc., J.P. Morgan
      Securities LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC (or their respective affiliates that are primary U.S. Government securities dealers) and their respective successors; provided, however, that if any of them shall cease to be a
      primary U.S. Government securities dealer in the United States of America (a “Primary Treasury Dealer”), the Company shall substitute for it another Primary Treasury Dealer; and (2) any other Primary Treasury
      Dealer or Dealers selected by the Company.

     

    

    “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the
      average, as determined by the Quotation Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Quotation Agent by such Reference Treasury Dealer
      at 5:00 p.m. (New York City time) on the third Business Day in The City of New York preceding such Redemption Date.

     

    

    
      
        

    

    Notice of any redemption will be sent at least 10 days but not more than 60 days before the Redemption Date to each Holder of the Notes to be redeemed, all as more
      fully provided in the Indenture. Unless the Company defaults in payment of the Redemption Price (or any accrued and unpaid interest on the Notes or portions thereof to be redeemed), on and after the Redemption Date interest will cease to accrue on
      the Notes or portions thereof called for redemption. If less than all of the Notes are to be redeemed, the Notes (or portions thereof) to be redeemed shall be selected, in the case of Global Notes, in accordance with the policies and procedures of
      the depository or, in the case of Definitive Notes, by the Trustee by such method as the Trustee shall deem fair and appropriate, all as more fully provided in the Indenture.

     

    

    All notices of redemption shall state the Redemption Date, the Redemption Price (or, if not then ascertainable, the manner of calculation thereof), if fewer than all
      the Outstanding Notes are to be redeemed, the identification (and, in the case of partial redemption, the principal amounts) of the particular Notes to be redeemed, that on the Redemption Date the Redemption Price will become due and payable upon
      each Note, or portion thereof, to be redeemed, together with accrued and unpaid interest thereon, that interest on each Note, or portion thereof, called for redemption will cease to accrue on the Redemption Date and the place or places where Notes
      may be surrendered for redemption.

     

    

    In the event of redemption of this Note in part only, a new Note or Notes of like tenor in an aggregate principal amount equal to and in exchange for the unredeemed
      portion of the principal amount hereof will be issued in authorized denominations in the name of the Holder hereof upon surrender hereof.

     

    

    For all purposes of this Note and the Indenture, unless the context otherwise requires, all provisions relating to the redemption by the Company of this Note shall
      relate, in the case that this Note is redeemed, or to be redeemed, by the Company only in part, to that portion of the principal amount of this Note that has been, or is to be, redeemed.

     

    

    If an Event of Default with respect to the Notes shall occur and be continuing, the principal of and accrued interest on the Notes may be declared due and payable in
      the manner and with the effect provided in the Indenture.

     

    

    The Indenture permits, in certain circumstances therein specified, the amendment thereof without the consent of the Holders of the Securities. The Indenture also
      permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations under the Indenture of the Company and the rights of Holders of the Securities of each series to be affected under the
      Indenture at any time by the Company and the Trustee with the consent of (i) the Holders of not less than a majority in principal amount of the Outstanding Securities of all series voting as a single class or (ii) if fewer than all of the series of
      the Outstanding Securities are affected by such addition, change, elimination, or modification, the Holders of not less than a majority in principal amount of the Outstanding Securities of all series so affected voting as a single class (including,
      for the avoidance of doubt, consents obtained in connection with a purchase of, or tender offer or exchange for, such debt securities). The Indenture also contains provisions permitting the Holders of not less than a majority in aggregate principal
      amount of the Outstanding Securities of any series, on behalf of the Holders of all Outstanding Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and
      their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor
      or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note.

     

    

    
      
        

    

    No reference herein to the Indenture and no provision of this Note, subject to the provisions for satisfaction and discharge in Article Four of the Indenture, shall
      alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed.

     

    

    The Indenture permits the Company, by irrevocably depositing cash or U.S. Government Obligations, in amounts and maturities sufficient to pay and discharge at the
      Stated Maturity or Redemption Date, as the case may be, the entire indebtedness on all Outstanding Notes with the Trustee in trust, solely for the benefit of the Holders of all Outstanding Notes, to defease the Indenture with respect to the Notes
      (subject to specified exceptions), and, upon such deposit and satisfaction of the other conditions set forth in the Indenture, the Company shall be deemed to have paid and discharged its entire indebtedness on the Notes.

     

    

    As provided in the Indenture and subject to certain limitations therein set forth, the transfer of Notes is registrable in the Security Register, upon surrender of a
      Note for registration of transfer at the Corporate Trust Office of the Trustee or at the office or agency of the Trustee maintained for such purpose in the Borough of Manhattan, The City of New York, or at such other offices or agencies as the
      Company may designate, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by the Holder thereof or his attorney duly authorized in writing, and thereupon
      one or more new Notes of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.

     

    

    No service charge shall be made by the Company, the Trustee or the Security Registrar for any such registration of transfer or exchange, but the Company may require
      payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith (other than exchanges pursuant to Sections 304, 305, 906 or 1107 of the Indenture not involving any transfer).

     

    

    Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose
      name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

     

    

    This Note shall be governed by and construed in accordance with the law of the State of New York (without regard to conflicts of laws principles thereof).

     

    

    Customary abbreviations may be used in the name of a Holder or an assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint
      tenants with right of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act).

     

    

    All undefined terms (whether or not capitalized) used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

    

    

    
      
        

    

    ASSIGNMENT FORM

     

    

    To assign this Note, fill in the form below:

     

    

    	
            (I) or (we) assign and transfer this Note to

          
	 
	 
	
            (Insert assignee’s soc. sec. or tax I.D. no.)

          
	 
	 
	 
	 
	 
	 
	 
	 
	
            (Print or type assignee’s name, address and zip code)

          

    
       

      

      and irrevocably appoint ________________________________________________________________________ to transfer this Note on the books of the Company. The agent may substitute another to act for him.

    

    

    

    	 	 	 
	 	 	 
	
            Date:

          	 	 
	 	
            Your Signature:

          	  

          
	 	 	
            (Sign exactly as your name(s)

            appear(s) on the face of this Note)

          
	 	 	 
	
            Signature Guarantee*

          	 	 
	 	 	 
	  

          	  

          	  

          

    

    

    *NOTICE: The signature must be guaranteed by an institution that is a member of one of the following recognized signature guarantee programs: (i) The Securities Transfer Agent Medallion
      Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) such other guarantee program acceptable to the Trustee.

    

    

    
      
        

    

    SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE

     

    

    The initial outstanding principal amount of this Global Note is $                         . The following exchanges of an interest in this Global Note for an interest
      in another Global Note or for a Definitive Note, or exchanges of an interest in another Global Note or Definitive Notes for an interest in this Global Note, have been made:

     

    

    	
            
              Date of Exchange

            

          	 	
            
              Amount of

              Decrease in

              Principal

              Amount of this

              Global Note

            

          	 	 	
            
              Amount of

              Increase in

              Principal

              Amount of this

              Global Note

            

          	 	 	
            
              Principal Amount

              of this Global

              Note Following

              Such Decrease

              (or Increase)

            

          	 	 	
            
              Signature of

              Authorized

              Officer of

              Trustee or

              Security

              Custodian

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