Document:

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                                                                    Exhibit 10.9

                                                                  EXECUTION COPY

                                    AMENDMENT NO. 3 (this "AMENDMENT") dated as
                           of February 11, 2002, to the CREDIT AGREEMENT dated
                           as of July 29, 1999, as amended and restated as of
                           December 16, 1999, and March 16, 2001, and as amended
                           by WAIVER AND AMENDMENT NO. 1 dated as of May 3,
                           2001, and AMENDMENT NO. 2 dated as of November 13,
                           2001 (as so amended, the "CREDIT AGREEMENT"), by and
                           among CROSS COUNTRY, INC. (formerly known as Cross
                           Country Travcorps, Inc.), a Delaware corporation (the
                           "BORROWER"), the LENDERS referred to therein (the
                           "LENDERS"), SALOMON SMITH BARNEY INC., as sole
                           advisor, arranger and book manager, CITICORP USA,
                           INC., as issuing bank (in such capacity the "ISSUING
                           BANK"), swingline lender (in such capacity the
                           "SWINGLINE LENDER"), and administrative agent and
                           collateral agent for the Lenders, BANKERS TRUST
                           COMPANY, as syndication agent, and WACHOVIA BANK,
                           N.A., as documentation agent.

                  A. Pursuant to the Credit Agreement, each of the Lenders, the
Swingline Lender and the Issuing Bank have extended credit to the Borrower and
have agreed to extend credit to the Borrower, in each case pursuant to the terms
and subject to the conditions set forth therein. Capitalized terms used but not
otherwise defined herein shall have the meanings assigned to them in the Credit
Agreement.

                  B. The Borrower has requested that the Credit Agreement be
amended as set forth herein.

                  C. The Required Lenders are willing so to amend the Credit
Agreement pursuant to the terms and subject to the conditions set forth herein.

                  D. The Borrower has also requested that certain provisions of
the Security Agreement be amended pursuant to the terms and subject to the
conditions set forth herein.

                  Accordingly, in consideration of the mutual agreements herein
contained and other good and valuable consideration, the sufficiency and receipt
of which are hereby acknowledged, the parties hereto hereby agree as follows:

                  SECTION 1.  AMENDMENTS TO THE CREDIT AGREEMENT.

                           (a) The caption to the Credit Agreement is hereby
         amended by (i) inserting "a" between "as" and "documentation" set forth
         therein, (ii) deleting "the" set forth therein between "capacity," and
         "DOCUMENTATION AGENT" and substituting therefor "a" and (iii) inserting
         "and FLEET NATIONAL BANK, N.A., as a documentation agent (in such
         capacity, a "DOCUMENTATION AGENT" and collectively with WACHOVIA BANK,
         N.A., the "DOCUMENTATION AGENTS", it being understood that all
         references to the Documentation Agent in this Agreement shall be deemed
         to include each of the Documentation Agents)" immediately before "."
         set forth in the last line thereof.

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                                                                               2

                           (b) The definition of the term "Change of Control"
         contained in Section 1.01 of the Credit Agreement is hereby amended by
         (i) deleting clause (a) in its entirety, (ii) deleting the clause
         designator "(b)" and substituting therefor "(a)", (iii) deleting the
         clause designator "(c)" and substituting therefor "(b)" and (iv)
         deleting clause (d) in its entirety.

                           (c) The definition of the term "Permitted
         Acquisition" contained in Section 1.01 of the Credit Agreement is
         hereby amended by:

                  (i) deleting "$10,000,000" set forth in clause (g) of such
                  definition and substituting therefor "25,000,000";

                  (ii) inserting at the end of clause (i) the following proviso:
                  "; PROVIDED that the requirements of this clause (i) shall not
                  apply if, in the case of an Asset Acquisition, a Subsidiary of
                  the Borrower that had owned, directly or indirectly, only such
                  assets as of the most recent fiscal quarter end for which
                  financial statements have been delivered or, in the case of a
                  Stock Acquisition, the Target, if it had been a Subsidiary of
                  the Borrower as of the most recent fiscal quarter end for
                  which financial statements have been delivered, would not have
                  been considered a Significant Subsidiary of the Borrower"
                  between "Acquisition" and ";"; and

                  (iii) inserting at the end of clause (j) the following
                  proviso: "; PROVIDED that the requirements of this clause (j)
                  shall not apply if, in the case of an Asset Acquisition, a
                  Subsidiary of the Borrower that had owned, directly or
                  indirectly, only such assets as of the most recent fiscal
                  quarter end for which financial statements have been delivered
                  or, in the case of a Stock Acquisition, the Target, if it had
                  been a Subsidiary of the Borrower as of the most recent fiscal
                  quarter end for which financial statements have been
                  delivered, would not have been considered a Significant
                  Subsidiary of the Borrower" between "Acquisition" and ";".

                           (d) The definition of the term "Senior Debt/Adjusted
         EBITDA Ratio" contained in Section 1.01 of the Credit Agreement is
         hereby deleted in its entirety.

                           (e) Section 1.01 of the Credit Agreement is hereby
         amended by inserting the following definition in the appropriate
         alphabetical order therein:

                  "Significant Subsidiary" means a significant subsidiary as
                  such term is used in Regulation S-X under the Exchange Act.

                           (f) Section 2.11(a) of the Credit Agreement is hereby
         amended by deleting the reference to "Sections 2.12(b) and 2.13(f)" set
         forth therein and substituting therefor "Section 2.12(b)".

                           (g) Section 2.13 of the Credit Agreement is hereby
         amended by deleting clauses (b), (c), (d), (e), (f) and (g) in their
         entirety.

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                                                                               3

                           (h) Section 5.04 of the Credit Agreement is hereby
         amended by:

                  (i) deleting "90" set forth in Section 5.04(a) and
                  substituting therefor "95";

                  (ii) deleting "45" set forth in Section 5.04(b) and
                  substituting therefor "50";

                  (iii) deleting "45" set forth in Section 5.04(c) and
                  substituting therefor "50";

                  (iv) deleting ", 6.14" set forth in Section 5.04(d)(ii);

                  (v) deleting "30" set forth in Section 5.04(f) and
                  substituting therefor "45"; and

                  (vi) inserting the following provision immediately following
                  Section 5.04(h):

                  Financial statements, opinions, certificates, reports and
                  other information required to be delivered pursuant to this
                  Section 5.04 shall be deemed to have been delivered if the
                  Administrative Agent posts such financial statements,
                  opinions, certificates, reports and other information on the
                  Citi/SSB Global Loans Disclosure Website on the Internet
                  maintained by the Administrative Agent at
                  https://direct2.sbi.com/ (or such other address as the
                  Administrative Agent shall provide) and such financial
                  statements, opinions, certificates, reports and other
                  information shall be deemed to have been delivered on the date
                  on which they are posted by the Administrative Agent on the
                  Citi/SSB Global Loans Disclosure Website on the Internet at
                  https://direct2.sbi.com/ (or such other address as the
                  Administrative Agent shall provide).

                           (i)  Section 5.11 of the Credit Agreement is hereby
         amended and restated in its entirety to read as follows:

                  "SECTION 5.11.

                                            INTENTIONALLY LEFT BLANK"

                           (j) Section 6.01 of the Credit Agreement is hereby
         amended by (i) deleting "$4,000,000" set forth in Section 6.01(a)(v)
         and substituting therefor "$10,000,000", (ii) deleting "required under
         Section 5.12 or" set forth in Section 6.01(a)(vi), (iii) deleting
         "$4,000,000" set forth in Section 6.01(a)(vii) and substituting
         therefor "$10,000,000", (iv) deleting "$5,000,000" set forth in Section
         6.01(a)(xi) and substituting therefor "$10,000,000" and (v) deleting
         "$10,000,000" set forth in the proviso immediately following Section
         6.01(a)(xi) and substituting therefor "$20,000,000".

                           (k)  Section 6.05(c) of the Credit Agreement is
         hereby amended by

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                                                                               4

         deleting "and the proceeds of which are applied in accordance with
         Section 2.13(c)".

                           (l)  Section 6.06(b)(ii) of the Credit Agreement is
         hereby amended by deleting ", 6.14".

                           (m) Section 6.11 of the Credit Agreement is hereby
         amended by deleting the existing table set forth therein and
         substituting therefor the following new table:

                                                     CASH CAPITAL
                  FISCAL YEAR                        EXPENDITURE LIMIT
                  -----------                        -----------------
                  1999                                   $400,000
                  2000                                 $3,000,000
                  2001                                $10,000,000
                  2002 and thereafter                 $10,000,000

                           (n) Section 6.12 of the Credit Agreement is hereby
         amended by deleting the existing table set forth therein and
         substituting therefor the following new table:

                  DATE                               AMOUNT
                  ----                               ------
                  December 31, 2000                  $38,500,000
                  December 31, 2001                  $45,000,000
                  December 31, 2002                  $55,000,000
                  December 31, 2003                  $60,000,000
                  December 31, 2004                  $65,000,000
                  December 31, 2005                  $70,000,000

                           (o) Section 6.14 of the Credit Agreement is hereby
         amended and restated in its entirety to read as follows:

                  "SECTION 6.14.

                                            INTENTIONALLY LEFT BLANK"

                           (p) Section 9.01 is hereby amended by deleting
         "Michael Chlopak (fax (212) 723-8547)" set forth in Section 9.01(b) and
         substituting therefor "Allen Fisher (fax (212) 723-8544)".

                  SECTION 2.  AMENDMENTS TO THE SECURITY AGREEMENT.

                           (a) Section 1.01 of the Security Agreement is hereby
         amended by deleting the following definitions of terms set forth
         therein in their entirety:

                  (i) Collection Deposit Account;

                  (ii) Concentration Account;

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                                                                               5

                  (iii) General Fund Account;

                  (iv) Lockbox and Depositary Agreement;

                  (v) Lockbox System; and

                  (vi) Sub-Agent

                           (b) The definition of the term "Collateral" contained
         in Section 1.01 of the Security Agreement is hereby amended by deleting
         "(including the Concentration Account, the Collection Deposit Account
         and the General Fund Account)" set forth therein.

                           (c) The definition of the term "Proceeds" contained
         in Section 1.01 of the Security Agreement is hereby amended by (i)
         deleting clause (a) in its entirety, (ii) deleting the clause
         designator "(b)" and substituting therefor "(a)" and (iii) deleting the
         clause designator "(c)" and substituting therefor "(b)".

                           (d) Section 5.01 of the Security Agreement is hereby
         amended and restated in its entirety to read as follows:

                  "SECTION 5.01.

                                            INTENTIONALLY LEFT BLANK"

                           (e) Section 5.02 of the Security Agreement is hereby
         amended and restated in its entirety to read as follows:

                  "SECTION 5.02.

                                            INTENTIONALLY LEFT BLANK"

                           (f) Annex 3 to the Security Agreement is hereby
         deleted in its entirety.

                  SECTION 3. REPRESENTATIONS AND WARRANTIES. The Borrower
represents and warrants to each of the Lenders and the Administrative Agent
that, after giving effect to this Amendment:

                           (a) the representations and warranties set forth in
         Article III of the Credit Agreement are true and correct in all
         material respects with the same effect as if made on and as of the date
         hereof, except to the extent such representations and warranties
         expressly relate to an earlier date.

                           (b) the Borrower is in compliance with the covenants
         set forth in Article IV and Article V of the Credit Agreement as of the
         date hereof, except to the extent such covenants expressly relate to an
         earlier date.

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                                                                               6

                           (c)  no Event of Default or Default has occurred and
         is continuing.

                  SECTION 4. CONDITIONS TO EFFECTIVENESS. This Amendment shall
become effective as of the date first written above at such time as the
Administrative Agent shall have received counterparts hereof, duly executed and
delivered by the Borrower, the other Grantors and the Required Lenders.

                  SECTION 5. EFFECTIVENESS. Except as expressly set forth
herein, this Amendment shall not by implication or otherwise limit, impair,
constitute a waiver of, or otherwise affect the rights and remedies of the
Lenders, the Issuing Bank, the Swingline Lender, the Collateral Agent, the
Administrative Agent, the Arranger, the Syndication Agent or the Documentation
Agent, under the Credit Agreement or any other Credit Document, and shall not
alter, modify, amend or in any way affect any of the terms, conditions,
obligations, covenants or agreements contained in the Credit Agreement or any
other Credit Document, all of which are ratified and affirmed in all respects
and shall continue in full force and effect. Nothing herein shall be deemed to
entitle the Borrower to a consent to, or a waiver, amendment, modification or
other change of, any of the terms, conditions, obligations, covenants or
agreements contained in the Credit Agreement or any other Credit Document in
similar or different circumstances. This Amendment shall apply and be effective
only with respect to the provisions of the Credit Agreement and the Security
Agreement specifically referred to herein. This Amendment shall constitute a
"Credit Document" for all purposes of the Credit Agreement and the other Credit
Documents. As used therein, the terms "Agreement", "herein", "hereunder",
"hereto", "hereof" and words of similar import shall, unless the context
otherwise requires, refer to the Credit Agreement as modified hereby.

                  SECTION 6.  APPLICABLE LAW.  THIS AMENDMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF
THE STATE OF NEW YORK.

                  SECTION 7. COUNTERPARTS. This Amendment may be executed in any
number of counterparts, each of which shall be an original but all of which,
when taken together, shall constitute but one instrument. Delivery of an
executed counterpart of a signature page of this Amendment by telecopy shall be
effective as delivery of a manually executed counterpart of this Amendment.

                  SECTION 8. EXPENSES. The Borrower agrees to reimburse the
Administrative Agent for its out-of-pocket expenses in connection with this
Amendment, including the reasonable fees, charges and disbursements of Cravath,
Swaine & Moore, counsel for the Administrative Agent.

                  SECTION 9. HEADINGS. The headings of this Amendment are for
purposes of reference only and shall not limit or otherwise affect the meaning
hereof.

<Page>

                                                                               7

                  IN WITNESS WHEREOF, the parties hereto have caused this
Amendment to be duly executed by their respective authorized officers as of the
date first above written.

                                            CROSS COUNTRY, INC.,

                                            by
                                               ------------------------------
                                               Name:
                                               Title:

                                            TVCM, INC.,

                                            by
                                               ------------------------------
                                               Name:
                                               Title:

                                            CEJKA & COMPANY,

                                            by
                                               ------------------------------
                                               Name:
                                               Title:

                                            CC STAFFING, INC.,

                                            by
                                               ------------------------------
                                               Name:
                                               Title:

                                            E-STAFF, INC.,

                                            by
                                               ------------------------------
                                               Name:
                                               Title:

                                            CROSS COUNTRY SEMINARS, INC.,

                                            by
                                               ------------------------------
                                               Name:
                                               Title:

<Page>

                                                                               8

                                      FLEX STAFF, INC.,

                                      by
                                         ------------------------------
                                         Name:
                                         Title:

                                      CLINFORCE, INC.,

                                      by
                                         ------------------------------
                                         Name:
                                         Title:

                                      CFRC, INC.,

                                      by
                                         ------------------------------
                                         Name:
                                         Title:

                                      HOSPITAL HUB, INC.,

                                      by
                                         ------------------------------
                                         Name:
                                         Title:

                                      CROSS COUNTRY TRAVCORPS, INC.,

                                      by
                                         ------------------------------
                                         Name:
                                         Title:

                                      NOVAPRO, INC.,

                                      by
                                         ------------------------------
                                         Name:
                                         Title:

                                      CITICORP USA, INC., individually and as
                                      Administrative Agent, Collateral Agent,
                                      Issuing Bank and Swingline Lender,

                                      by
                                         ------------------------------
                                         Name:
                                         Title:

<Page>

                                                                               9

                                            SALOMON SMITH BARNEY INC., as
                                            Arranger,

                                            by
                                               ------------------------------
                                               Name:
                                               Title:

<Page>

                                                                              10

                                            SIGNATURE PAGE TO AMENDMENT
                                            NO. 3 DATED AS OF FEBRUARY 11,
                                            2002, TO THE CROSS COUNTRY, INC.
                                            CREDIT AGREEMENT DATED AS OF
                                            JULY 29, 1999, AS AMENDED AND
                                            RESTATED AS OF DECEMBER 16, 1999,
                                            AND MARCH 16, 2001, AND AS
                                            AMENDED BY WAIVER AND
                                            AMENDMENT NO. 1 DATED AS OF
                                            MAY 3, 2001, AND AMENDMENT NO. 2
                                            DATED AS OF NOVEMBER 13, 2001

NAME OF LENDER:
               -------------------------------------------

                           by
                             -----------------------------
                             Name:
                             Title:QuickLinks
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Exhibit 4.1    
  

 
  FIRST SUPPLEMENTAL INDENTURE TO
  SENIOR INDENTURE AND SUBORDINATED INDENTURE    
  

        THIS FIRST SUPPLEMENTAL INDENTURE (the "First Supplemental Indenture"), dated as of March 6, 2002, is entered into by and between Occidental Petroleum
Corporation, a Delaware corporation (the " Company"), and The Bank of New York, a New York banking corporation, as trustee (the "Trustee"), under the Indenture dated as of April 1, 1998 (the
"Senior Indenture") and the Indenture dated as of January 20, 1999 (the "Subordinated Indenture" and, together with the Senior Indenture, the "Indentures"). Capitalized terms used and not
otherwise defined herein shall have the meaning ascribed to such term in the applicable Indenture. 

 
 

RECITALS    
  

        WHEREAS, in accordance with Sections 201 and 301 of the Indentures, the Company established a series of senior debt securities entitled "Medium-Term
Senior Notes, Series C" (the "Senior Notes") and a series of subordinated debt securities entitled "Medium-Term Subordinated Notes, Series A" (the "Subordinated Notes" and, together with
the Senior Notes, the "Notes"), pursuant to an Officers' Certificate dated as of June 30, 1999 (the "Officers' Certificate"); 

        WHEREAS,
pursuant to the terms of each Indenture, the Senior Indenture and the Subordinated Indenture include the terms of the Senior Notes and the Subordinated Notes, respectively, as
set forth in the Officers' Certificate; 

        WHEREAS,
the Company desires to amend the Senior Indenture and the Subordinated Indenture solely with respect to certain terms of the Senior Notes and the Subordinated Notes,
respectively; 

        WHEREAS,
pursuant to Section 901 of the Indentures, the Company, when authorized by the Board of Directors of the Company, and the Trustee may amend or supplement the Indentures
without the consent of the Holders of the outstanding Securities; 

        WHEREAS,
pursuant to resolutions adopted by the Board of Directors of the Company on December 13, 2001, the Company is authorized to enter into this First Supplemental Indenture; 

        WHEREAS,
as of the date hereof, the Company has not issued any of the Notes; 

        WHEREAS,
all conditions precedent to amend or supplement the Indentures have been met; 

        NOW,
THEREFORE, in consideration of the above premises, the Company and the Trustee agree as follows: 

 
 

ARTICLE I    
  

        Section 1.01.    Nature of Supplemental Indenture.    This First Supplemental Indenture amends the applicable
Indenture solely with respect to the terms of the Notes (as set forth in the Officers' Certificate) that are included in such Indenture. This First Supplemental Indenture shall form a part of,
and shall be construed in connection with and as part of, the applicable Indenture for any and all purposes. 

        Section 1.02.    Amendments.    

        (a)  The
Officers' Certificate is amended and restated in its entirety to read as follows: 

        "Pursuant
to Section 201 and Section 301 of the indenture, dated as of April l, 1998 (the "Senior Indenture"), between Occidental Petroleum Corporation, a Delaware
corporation (the "Company"), and The Bank of New York, as trustee (the "Trustee"), and Section 201 and Section 301 of the indenture, dated as of January 20, 1999 (the
"Subordinated Indenture" and, together with the Senior 

 

Indenture, the "Indentures"), between the Company and the Trustee, the undersigned Assistant Treasurer and Assistant Secretary of the Company hereby certify on behalf of the Company as follows: 

        (1)  Authorization. The establishment of a series of senior debt securities under the Senior Indenture and a series of
subordinated debt securities under the Subordinated Indenture has been approved and authorized in accordance with the provisions of each of the Indentures pursuant to resolutions adopted by the Board
of Directors on February 18, 1999 and December 13, 2001. For the purposes of this Officers' Certificate, unless otherwise specified, references to "Securities" are to both the senior
debt securities and the subordinated debt securities. 

        (2)  Compliance with Covenants and Conditions Precedent. All covenants and conditions precedent provided for in each of the
Indentures relating to the establishment of a series of Securities have been complied with. 

        (3)  Terms. The terms of each series of Securities established pursuant to this Officers' Certificate shall be as follows: 

        (i)    Title. The title of the series of the senior debt securities is the "Medium-Term Senior Notes, Series C" (the
"Senior Notes") and the title of the series of the subordinated debt securities is the "Medium-Term Subordinated Notes, Series A" (the "Subordinated Notes" and, together with the Senior
Notes, the "Notes"). 

        (ii)  Aggregate Principal Amount. Subject to being increased or decreased, but not below the aggregate principal amount
previously issued, by the Company pursuant to a subsequent Officers' Certificate delivered to the Trustee pursuant to Section 301 of each of the Indentures, the aggregate initial public
offering price of the Notes which may be authenticated and delivered pursuant to the Indentures (except for Notes authenticated and delivered upon registration of transfer of, or in exchange for, or
in lieu of, other Notes pursuant to Sections 304, 305, 306, 906 and 1107 of either Indenture and except for any Notes which, pursuant to Section 303 of either Indenture, are deemed never to
have been authenticated and delivered under the applicable Indenture) is $1,000,000,000. Such aggregate initial public offering price of the Notes may be Senior Notes authenticated and delivered
pursuant to the Senior Indenture or Subordinated Notes issued pursuant to the Subordinated Indenture, or any combination thereof. 

        (iii)  Persons Designated to Establish Specific Terms. The principal amount, any interest rate (or manner in which interest is
to be determined), any Interest Payment Dates, any Regular Record Dates, original issue date, the Stated Maturity, any Redemption Date or Dates (and if on any such Redemption Date a premium is to be
paid by the Company, the amount of such premium) and any other relevant terms of any Note (including any terms related to repurchase of the Notes by the Company at the option of the Holders, if any)
will be determined by any one of the following persons: J. R. Havert, Ronald K. Takeuchi, John W. Alden, Christel Pauli, S. P. Parise, Linda S. Peterson or any other person later designated pursuant
to an Officers' Certificate delivered to the Trustee (the "Designated Persons") and such terms will be set forth in the applicable Note. 

        (iv)  Registered Securities in Definitive or Book-Entry Form; Global Note; Depositary. Each Note is issuable only
as a Registered Security, without coupons, in definitive form (a "Definitive Note") or in book-entry form, as determined in each case by any one of the Designated Persons. Upon issuance,
all Notes in book-entry form having the same original issue date, Stated Maturity and otherwise having identical terms and provisions will be represented by a single Definitive Note in
global form (each, a "Global Note"); provided, however, that if by reason of the foregoing a single Global Note would exceed $500,000,000 in principal
amount, one Global Note will be issued to represent each $500,000,000 of principal 

2

 

amount and an additional Global Note will be issued to represent any remaining principal amount. The initial Depositary with respect to any Global Note will be The Depository Trust Company. So long
as the Depositary for a Global Note, or its nominee, is the registered owner of a Global Note, the Depositary or its nominee, as the case may be, will be considered the sole owner or Holder of the
Notes in book-entry form represented by such Global Note or Notes for all purposes under the applicable Indenture. Notes issued in book-entry form will not be exchangeable for
Definitive Notes except that, if the Depositary with respect to any Global Note or Notes is at any time unwilling or unable to continue as Depositary for such series of Notes and a successor
Depositary is not appointed by the Company within 60 calendar days, the Company will issue Definitive Notes in certificated form of like tenor and of an equal aggregate principal amount, in
denominations of $1,000 and integral multiples of $1,000, in exchange for the Notes issued in book-entry form represented by any such Global Note or Notes. In addition, the Company may at
any time and in its sole discretion determine not to have a series of Notes represented by a Global Note or Notes, and, in such event, or if an Event of Default with respect to such series of Notes
shall have occurred and shall be continuing, will issue Definitive Notes in exchange for the Notes issued in book-entry form represented by such Global Note or Notes in accordance with the
provisions of Section 305 of the applicable Indenture. 

        (v)  Persons to Whom Interest Payable. Unless otherwise specified in a Note, interest will be payable to the Person in whose
name a Note is registered at the close of business (whether or not a Business Day) on the Regular Record Date with respect to such Note; provided,
however, that interest payable at Maturity will be payable to the Person to whom principal is payable. 

        (vi)  Stated Maturity. The Notes are issuable on different dates and the principal amount of the Notes may be payable on
different dates, as shall be set forth in the applicable Note; provided, however, that the Stated Maturity with respect to which the principal of any
Note is payable will be no less than nine months from the date of issue stated on the face thereof. 

        (vii) Rates of Interest; Interest Payment Dates; Regular Record Dates; Accrual of Interest.

        (a)  Rates of Interest. Interest-bearing Notes will bear interest at a fixed rate (the "Fixed Rate Notes") or at a variable
rate pursuant to the interest rate formula (the "Floating Rate Notes") specified in the applicable Floating Rate Note. In no event will the rate of interest payable on any Fixed Rate Note or Floating
Rate Note be in excess of the maximum rate of interest permitted by applicable law. In addition, if specified in the applicable Note, such Note may pay no interest until Maturity or for a specified
period following the date of issue, may pay interest at a rate which is at the time of issuance below market rates or may have other interest payment characteristics as set forth in the applicable
Note and described in the Prospectus Supplement (the "Prospectus Supplement") dated March 6, 2002 and filed with the Securities and Exchange Commission in connection with the offering by the
Company of up to $1,000,000,000 aggregate initial public offering price of the Notes. 

        (b)  Interest Payment Dates. Unless otherwise specified in the applicable Note, interest on Fixed Rate Notes will be payable
semiannually in arrears on May 15 and November 15 of each year, commencing with the first Interest Payment Date next succeeding the date of original issue, and at Maturity. Interest on
Floating Rate Notes will be payable in arrears on the Interest Payment Dates applicable to such Note and at Maturity. Notwithstanding the foregoing, if the date of original issue of a Note is between
a Regular Record Date and the related Interest Payment Date, the first payment of 

3

 

interest on such Note will be made on the Interest Payment Date immediately following the next succeeding Regular Record Date to the registered Holder on such next succeeding Regular Record Date. 

        Except
as provided below or in the applicable Floating Rate Note, interest will be payable, in the case of a Floating Rate Note which resets (1) daily, weekly or monthly, on the
third Wednesday of each month or on the third Wednesday of March, June, September and December of each year, as specified in the applicable Floating Rate Note; (2) quarterly, on the third
Wednesday of March, June, September and December of each year; (3) semiannually, on the third Wednesday of each of the two months of each year specified in the applicable Floating Rate Note;
and (4) annually, on the third Wednesday of the month specified in the applicable Floating Rate Note; and, in each case, at Maturity. 

        Unless
otherwise specified in the applicable Fixed Rate Note, interest on a Fixed Rate Note will be computed on the basis of a 360-day year of twelve 30-day
months. If any Interest Payment Date or Maturity of a Fixed Rate Note falls on a day that is not a Business Day, the payment of principal, premium, if any, and interest due on such Interest Payment
Date or at Maturity will be made on the next succeeding Business Day as if it were made on the date such payment was due 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. If any Interest Payment Date for a Floating Rate Note (other than an Interest Payment Date that is a Maturity) falls on a day that is
not a Business Day, such Interest Payment Date will be the next succeeding Business Day, except that, in the case of a Note for which LIBOR is an applicable Interest Rate Basis (as defined below), if
such Business Day is in the next
succeeding calendar month, such Interest Payment Date shall be the immediately preceding day that is a Business Day. If the Maturity of a Floating Rate Note falls on a day that is not a Business Day,
the payment of principal, premium, if any, and interest shall be made on the next succeeding Business Day as if it were made on the date such payment was due, and no interest on the amount so payable
shall accrue for the period from and after such Maturity. 

        (c)  Regular Record Dates. Unless otherwise specified in the applicable Note, with respect to Fixed Rate Notes, the Regular
Record Dates for interest payable on each May 15 and November 15, will be the immediately preceding April 30 and October 31 (whether or not a Business Day), respectively.
Unless otherwise specified in a Floating Rate Note, the Regular Record Date or Dates for interest payable on such Floating Rate Note will be the fifteenth calendar day (whether or not a Business Day)
immediately preceding the related Interest Payment Date or Dates. 

        (d)  Accrual of Interest. Unless otherwise specified in a Note, the Notes will bear interest from the date of original issue
at the rate per annum, or, in the case of a Floating Rate Note, pursuant to the interest rate formula stated therein until the principal thereof is paid or made available for payment. Each interest
payment shall be the amount of interest accrued from and including the immediately preceding Interest Payment Date in respect of which interest has been paid or duly provided for (or from and
including the date of original issue if no interest has been paid or duly provided for with respect to such Note) to, but excluding, the next succeeding Interest Payment Date, or Maturity, as the case
may be (an "Interest Accrual Period"). 

        (e)  Business Day. For purposes of this Officers' Certificate and the Notes, "Business Day" means any day, other than a
Saturday or Sunday, that is neither a legal holiday nor a day on which commercial banks are authorized or required by law, regulation or 

4

 

executive order to close in The City of New York; provided, however, that, with respect to foreign currency Notes, the day is also not a day on which commercial banks are authorized or required by
law, regulation or executive order to close in the Principal Financial Center (as defined below) of the country issuing the currency specified in such foreign currency Notes (the "Specified Currency")
or, if the Specified Currency is euros, the day is also a day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET) System is open; provided, further,
that, with respect to Notes as to which LIBOR is an applicable Interest Rate Basis, the day is also a London Business Day; and "London Business Day" means a day on which commercial banks are open for
business, including dealings in the LIBOR Currency (as defined in the Prospectus Supplement) in London. 

        (f)    Principal Financial Center. For the purposes of this Officers' Certificate and the Notes, "Principal Financial Center"
means, unless otherwise specified in an applicable Note, 

        (1)  the
capital city of the country issuing the Specified Currency, except that with respect to the United States dollars, Australian dollars, Canadian dollars, South
African rand and Swiss francs, the "Principal
Financial Center" will be The City of New York, Sydney and Melbourne, Toronto, Johannesburg and Zurich, respectively, or 

        (2)  the
capital city of the country to which the LIBOR Currency relates, except that with respect to United States dollars, Australian dollars, Canadian dollars, South
African rand and Swiss francs, the "Principal Financial Center" will be The City of New York, Sydney, Toronto, London, Johannesburg and Zurich, respectively. 

        (viii)Place of Payment; Registration of Transfer and Exchange; Notices to Company.

        (a)  Place of Payment. Payment of the principal of, premium, if any, and interest on the Definitive Notes will be made at the
Corporate Trust Office of the Trustee 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,
however, that at the option of the Company, payment of interest other than at Maturity may be made by check mailed to the address of the Person entitled thereto as such address
shall appear in the Security Register; and provided, further, that a Holder of $1,000,000 or more in aggregate principal amount of Definitive Notes having the same Interest Payment Dates will, at the
option of the Company, be entitled to receive interest payments (other than at Maturity) 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. Any wire instructions received by the Trustee shall remain in effect until revoked by the Holder.
Payments of principal, premium, if any, and any interest on Notes in book-entry form represented by a Global Note or Notes will be made by the Company through the Trustee to the Depositary
or its nominee, as the case may be, as the Holder of the Global Note or Notes representing such Notes in book-entry form. 

        (b)  Registration of Exchange and Transfer. Definitive Notes 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 of any transfer agent hereafter designated by the Company for such purpose. Ownership of
beneficial interests in Notes in book-entry form represented by a Global Note or Notes will be shown on, and the transfer of that ownership will be effected only 

5

 

through, records maintained by the Depositary, or by participants in the Depositary or persons that may hold interests through such participants. Owners of beneficial interests in Notes in
book-entry form represented by a Global Note or Notes will not be considered the owners or Holders of such Notes under the applicable Indenture. 

        (c)  Notices to Company. Notices and demands to or upon the Company in respect to the Notes and each of the Indentures may be
served at Occidental Petroleum Corporation, 10889 Wilshire Boulevard, Los Angeles, California 90024, Attention: Vice President and Treasurer. 

        (ix)  Optional Redemption. If so provided in the applicable Note, such Note may, prior to its Stated Maturity, be subject to
redemption, in whole or in part, at the option of the Company on the terms set forth in the applicable Note. Any wire instructions received by the Trustee shall remain in effect until revoked by the
Holder. 

        For
all purposes of this Officers' Certificate and each of the Indentures, unless the context otherwise requires, all provisions relating to the redemption by the Company of Notes shall
relate, in the case of any Notes redeemed or to be redeemed by the Company only in part, to that portion of the principal amount of such Notes that has been or is to be redeemed. 

        (x)  Sinking Fund. Unless otherwise specified in the applicable Note, the Notes will not be subject to any sinking fund or
analogous provision. 

        (xi)  Person to Whom Interest is Payable Upon Redemption of Notes. With respect to any Note that is redeemable at the option
of the Company prior to its Stated Maturity, installments of interest whose Stated Maturity is prior to the Redemption Date of such Note will be payable to the Holder of such Note, or one or more
Predecessor Securities, of record at the close of business on the relevant Regular Record Dates specified in such Note, all as provided in the applicable Indenture. 

        (xii) Purchase of Notes at the Option of the Holder.

        (a)  General. If a purchase date or dates (each, a "Purchase Date") is specified in the applicable Note, on each such Purchase
Date so specified, the Company will become obligated to purchase, at the option of the Holder, all or a portion of such Note for which a written notice (a "Purchase Notice") has been delivered by, or
on behalf of, the Holder and received by the Trustee at its Corporate Trust Office in the Borough of Manhattan, The City of New York, or at any other Place of Payment designated by the Company for
such purpose, at any time from the opening of business on the date that is 60 days prior to such Purchase Date until 5:00 P.M., New York City time, on the date that is 30 days
prior to such Purchase Date, subject to certain additional conditions provided below. The delivery to the Trustee of a Purchase Notice shall be irrevocable. If no Purchase Date is indicated with
respect to a Note, it will not be repayable at the option of the Holder before its Stated Maturity. 

        Promptly
following the last date on which a Purchase Notice with respect to any Purchase Date may be delivered to the Trustee, the Trustee shall notify the Company in writing of the
Notes with respect to which the Trustee has received a Purchase Notice and, in the case of any Notes for which a Purchase Notice has been received in part, the principal amount thereof to be
purchased. 

        For
all purposes of this Officers' Certificate and each of the Indentures, unless the context otherwise requires, all provisions relating to the purchase by the 

6

 

Company of Notes shall relate, in the case of any Notes purchased or to be purchased by the Company only in part, to that portion of the principal amount of such Notes that has been or is to be so
purchased. 

        (b)  Contents of Purchase Notice. Each Purchase Notice shall state (i) the CUSIP number of the Note or Notes to be
delivered by the Holder thereof for purchase by the Company; (ii) the portion of the principal amount of Notes to be purchased, which portion, unless specified in the applicable Note, must be
an integral multiple of $1,000, provided that any remaining principal amount will be an authorized denomination of the applicable Note; and (iii) that such Notes are to be purchased by the
Company pursuant to the applicable provisions of the Notes. In the event of purchase by the Company of a Note in part only, a new Note or Notes of like tenor for the unpurchased portion thereof will
be issued in authorized denominations of the applicable Note in the name of the Holder thereof upon the cancellation thereof. 

        (c)  Purchase Price. Unless otherwise specified in the applicable Note, the price payable on any Purchase Date with respect to
any applicable Note shall be equal to the applicable purchase price (the "Purchase Price") specified in such Note, together with accrued interest to but not including the Purchase Date;  provided, however, that installments of interest whose Stated Maturity is prior to the Purchase Date shall be payable to the Holders of such Notes, or
one or more Predecessor Securities, registered as such at the close of business on the relevant Regular Record Dates according to the provisions of Section 3(xii)(f) of this Officers'
Certificate and Section 307 of the applicable Indenture. If a Purchase Notice shall have been given with respect to an applicable Note, from and after the Purchase Date with respect to which
such Purchase Notice relates (unless the Company shall default in payment of the Purchase Price and accrued interest), such Note (or portion thereof to be purchased) shall cease to bear interest and
all other rights of the Holder (other than the right to receive the Purchase Price upon the delivery of the Note in accordance with Section (3) (xii) (d) below) shall terminate. 

        (d)  Payment of Purchase Price. Payment of the Purchase Price, together with accrued interest to the Purchase Date, for a Note
for which a Purchase Notice has been delivered is conditioned upon delivery of, in the case of a Definitive Note, such Note (with, if the Company or the Trustee so requires, due endorsement by, or a
written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or such Holder's attorney duly authorized in writing) to the Trustee at its
Corporate Trust Office in the Borough of Manhattan, The City of New York, or at any other Place of Payment designated by the Company for such purpose, at any time (whether prior to, on or after the
Purchase Date) after delivery of such Purchase Notice, or, in the case of a Note in book entry form represented by a Global Note or Notes, instructions to that effect from the applicable beneficial
owner of the Note to the depositary, forwarded by the depositary to the Trustee. Payment of the Purchase Price for such Note (or portion thereof to be purchased), together with accrued interest to the
Purchase Date, will be made promptly following the later of the Purchase Date or the time of delivery of such Note. If any Note for which a Purchase Notice has been delivered to the Trustee shall not
be so paid upon surrender thereof for purchase, the principal shall, until paid, bear interest from the Purchase Date at the rate prescribed therefor in the Note. 

7

 

        (e)  Deposit of Purchase Price. On or prior to any Purchase Date, the Company shall deposit with the Trustee or with a Paying
Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 1003 of each of the Indentures) an amount of money sufficient to pay the Purchase
Price of, and accrued interest on, all the Notes (or portions thereof) which are to be purchased on that date. 

        (f)    Limitations on Transfer. The Company shall not be required to (i) issue, register the transfer of or exchange any
Note having a Purchase Date specified therein during a period beginning at the opening of business 15 days before the first date any Purchase Notice may be delivered to the Trustee with respect
thereto and ending (except as otherwise provided in the next succeeding sentence) at the close of business on the last date a Purchase Notice may be delivered to the Trustee with respect thereto or
(ii) register the transfer of or exchange any Note for which, in whole or part, a Purchase Notice has been delivered to the Trustee, except the portion of any such Note for which the Purchase
Notice has not been delivered to the Trustee. 

        (xiii)Denominations. Unless specified in the applicable Note, the Notes are issuable in the denominations of $1,000 and any
amount in excess thereof which is an integral multiple of $1,000. 

        (xiv) Principal and Interest Payable in Dollars. Subject to Section 902(1) of the Indentures, unless otherwise
specified in a Note, and then, only with respect to that Note, or by the Company in a subsequent Officers' Certificate, payment of the principal of and any interest on the Notes will be payable in
Dollars. 

        (xv) Determination of Interest on Floating Rate Notes.

        (a)  Interest Rates Basis. The Interest Rate Basis or Bases (as defined in the Prospectus Supplement) applicable to a Floating
Rate Note may be any of the Interest Rate Bases described in the Prospectus Supplement, or as set forth in such Floating Rate Note. Each Floating Rate Note will specify the Interest Rate Basis or
Bases applicable thereto. 

        (b)  Calculation of Rate By Reference to Interest Rate Basis or Bases and, as Applicable, Spread, Spread Multiplier and Index
Maturity. The interest rate on each Floating Rate Note will be calculated as set forth in the Prospectus Supplement by reference to the specified Interest Rate Basis or Bases
plus or minus the Spread, if any, and/or multiplied by the Spread Multiplier, if any (each as defined in
the Prospectus Supplement). Each Floating Rate Note will specify the Index Maturity (as defined in the Prospectus Supplement) and the Spread, if any, and/or Spread Multiplier, if any, applicable
thereto. 

        (c)  Interest Reset Period; Interest Reset Date. Each Floating Rate Note will specify whether the rate of interest on such
Floating Rate Note will be reset daily, weekly, monthly, quarterly, semiannually or annually (each, an "Interest Reset Period"), the date or dates, on which such interest rate will be reset (each, an
"Interest Reset Date") and the date or dates, if any, on which the Company has the option to reset such interest rate (each, an "Optional Reset Date"). Unless otherwise specified in a Floating Rate
Note, the Interest Reset Dates and any Optional Reset Dates will be as set forth in the Prospectus Supplement. 

        (d)  Interest Determination Date. The interest rate applicable to each Interest Reset Period commencing on the Interest Reset
Date or Dates or Optional Reset 

8

 

Date or Dates with respect to such Interest Reset Period will be the rate determined on the applicable "Interest Determination Date." Unless otherwise specified in an applicable Floating Rate Note,
the Interest Determination Date shall be as set forth in the Prospectus Supplement. 

        (e)  Maximum and Minimum Limits on Interest Rates. Any Floating Rate Note may specify either or both a maximum limit ("Maximum
Interest Rate") and a minimum limit ("Minimum Interest Rate") (as defined in the Prospectus Supplement). In addition to any Maximum Interest Rate which may be applicable to any Floating Rate Note
pursuant to the above provisions, the interest rate on Floating Rate Notes will in no event be higher than the maximum rate permitted by New York law, as the same may be modified by United States law
of general application. 

        (f)    Initial Interest Rate; Interest Rate Thereafter in Effect. The interest rate in effect with respect to a Floating Rate
Note on each day that is not an Interest Reset Date, will be the interest rate determined as of the Interest Determination Date pertaining to the immediately preceding Interest Reset Date and the
interest rate in effect on any day that is an Interest Reset Date will be the interest rate determined as of the Interest Determination Date pertaining to such Interest Reset Date, subject in all
cases to applicable provisions of law and any maximum or minimum interest rate limitations referred to above; provided, however, that the interest rate
in effect with respect to a Floating Rate Note for the period from the date of original issue to the first Interest Reset Date will be the rate specified as such in the applicable Floating Rate Note
(the "Initial Interest Rate") and, unless otherwise specified in the applicable Floating Rate Note, the interest rate in effect for the ten calendar days immediately prior to a Floating Rate Note's
Stated Maturity will be the interest rate in effect on the tenth calendar day preceding such Stated Maturity. For purposes of this Officers' Certificate, the term "Interest Reset Date" includes any
Optional Reset Date (as defined in the Prospectus Supplement) for which the Company resets the interest rate applicable to a Floating Rate Note. 

        (g)  Accrued Interest; Accrued Interest Factor. With respect to each Floating Rate Note, accrued interest is calculated by
multiplying its face amount by an accrued interest factor, which shall be computed as set forth in the Prospectus Supplement. 

        (h)  Rounding of Percentages. All percentages resulting from any calculation on the Floating Rate Notes (other than
percentages used in the calculation of the accrued interest factor and accrued interest) will be rounded, if necessary, to the nearest one hundred-thousandth of a percentage point, with five
one-millionths of a percentage point rounded upward. All dollar amounts used in or resulting from any calculation on Floating Rate Notes will be rounded to the nearest cent, or, in the
case of a foreign currency, to the nearest unit (with one-half cent or unit being rounded upwards). 

        (i)    Calculation Agent; Calculation Date. Unless otherwise specified in the applicable Floating Rate Note, the Trustee will be
the initial "Calculation Agent" with respect to the Floating Rate Notes. Upon the request of the Holder of any Floating Rate Note, the Trustee will provide the interest rate then in effect and, if
determined, the interest rate that will become effective as a result of a determination made for the next Interest Reset Date with respect to such Floating Rate Note. If at any time the Trustee is not
the Calculation Agent, the Company will notify the 

9

 

Trustee of each determination of the interest rate applicable to any such Floating Rate Note promptly after such determination is made by any successor Calculation Agent. Unless otherwise specified
in the applicable Note, the "Calculation Date," where applicable, pertaining to any Interest Determination Date will be the earlier of (i) the tenth calendar day after such Interest
Determination Date, or, if any such day is not a Business Day, the next succeeding Business Day or (ii) the Business Day preceding the applicable Interest Payment Date or Maturity, as the case
may be. 

        (j)    Calculation of Floating Rates. The calculation of interest rates in effect with respect to a Floating Rate Note shall be
as set forth in the Prospectus Supplement. 

        (xvi) Determination of Principal of Indexed Principal Notes. Any payment of principal or interest on an indexed principal
note, at Maturity or upon redemption or repurchase by the Company, will be calculated as set forth in the Prospectus Supplement. 

        (xvii)Discount Notes.

        (a)  Rates of Interest. If specified in the applicable Note, such Note may bear no interest or may bear no interest for a
specified period following the date of issue or may bear interest at a rate which is at the time of issuance below market rates (any such Note being referred to as a "Discount Note"). 

        (b)  Payments at Maturity of Certain Discount Notes. If any Maturity of a Note that bears no interest falls on a day that is
not a Business Day, the payment due at Maturity with respect to such Note will be made on the following day that is a Business Day as if it were made on the date such payment was due and no interest
shall accrue on the amount so payable for the period from and after such Maturity. 

        (c)  Amount Payable Upon Declaration of Maturity of Discount Security. With respect to any Discount Note that is a Discount
Security, that portion of the principal amount of such Discount Note that is payable upon redemption prior to the Stated Maturity thereof or upon declaration of acceleration of the Stated Maturity
thereof pursuant to Section 502 of the applicable Indenture will be as provided in the applicable Note. 

        (xviii)Security Register; Paying Agent. The Security Register for the Notes will be initially maintained at the Corporate
Trust Office of the Trustee. The Company hereby appoints the Trustee as the initial Paying Agent. 

        (xix) Other Terms. Each Note may also specify therein additional terms governing such Note, including terms that relate to
Amortizing Notes, Subsequent Interest Payments, Indexed Principal Notes, Dual Currency Notes, Renewable Notes and Extension of Maturity, each as described in the Prospectus Supplement. 

        (xx) Forms. Unless and until another form is established pursuant to a subsequent Officers' Certificate pursuant to
Section 201 of each of the Indentures, the Fixed Rate Global Notes, the Floating Rate Global Notes, Fixed Rate Discount Notes and the Zero Coupon Notes will be in substantially the forms set
forth in Exhibits A, B, C and D hereto and may have such other terms, additions and changes as any Designated Person delivering the Notes shall, in his or her discretion, approve, such approval to be
conclusively evidenced by his or her delivery thereof. 

        Capitalized
terms used herein and not otherwise defined herein have the meanings specified in the applicable Indenture. 

10

 

        Each
of the undersigned, for himself, states that he has read and is familiar with the provisions of Article Two of each of the Indentures relating to the establishment of the forms of
Security representing a series of Securities thereunder and Article Three of each of the Indentures relating to the establishment of a series of Securities thereunder, and in each case, the
definitions therein relating thereto; that he is generally familiar with the other provisions of each of the Indentures and with the affairs of the Company and its acts and proceedings and that the
statements and opinions made by him in this Certificate are based upon such familiarity; and that, in his opinion, he has made such
examination or investigation as is necessary to enable him to express an informed opinion as to whether or not the covenants and conditions referred to above have been complied with. 

        Insofar
as this Certificate relates to legal matters, it is based, as provided for in Section 103 of each of the Indentrues, upon the Opinion of Counsel delivered to the Trustee
contemporaneously herewith pursuant to Section 303 of each of the Indentures and relating to the Notes. 

        (b)  Exhibits
A, B, C and D of the Officers' Certificate are amended in their entirety by substituting Exhibits A, B, C and D hereto, respectively, therefor. 

 
 

ARTCLE II    
  

        2.01    Ratification.    Except as amended hereby, all of the terms of the Indentures shall remain and continue in
full force and effect and are hereby approved, ratified and confirmed in all respects. 

        2.02    Severability.    In case any provision in this First Supplemental Indenture shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

        2.03    Counterparts.    This First Supplemental Indenture may be executed in any number of counterparts, each of
which shall be an original; but such counterparts shall constitute one and the same instrument. 

        2.04    Governing Law.    This First Supplemental Indenture shall be governed by and construed in accordance with the
laws of the State of New York, including, without limitation, Section 5-1401 of the New York General Obligations Law. 

[Signature page follows]

11

 

        IN
WITNESS WHEREOF, the parties hereto have caused this First Supplemental Indenture to be duly executed as of the date first above written. 

	OCCIDENTAL PETROLEUM CORPORATION	 	OCCIDENTAL PETROLEUM CORPORATION
	

 	
 	

 	
 	

 	
 	

 
	By:	 	/s/  S. P. PARISE      
	 	By:	 	/s/  RONALD K. TAKEUCHI      

	Name:	 	S. P. Parise	 	Name:	 	Ronald K. Takeuchi
	Title:	 	Assistant Secretary	 	Title:	 	Assistant Treasurer
	

 	
 	

 	
 	

 	
 	

 
	 	 	 	 	THE BANK OF NEW YORK
	

 	
 	

 	
 	

 	
 	

 
	 	 	 	 	By:	 	/s/  STACEY POINDEXTER      

	 	 	 	 	Name:	 	Stacey Poindexter
	 	 	 	 	Title:	 	Assistant Treasurer

12

  

 
 

Exhibit A    
  

[Form
of Global Fixed Rate Registered Security—United States] 

	 
	 	 
	 	 

	REGISTERED	 	 	 	REGISTERED
	

OCCIDENTAL PETROLEUM CORPORATION
	

NO. FXR-	
 	

MEDIUM-TERM [SENIOR] [SUBORDINATED]

NOTE, SERIES [C] [A]

(Fixed Rate)	
 	

PRINCIPAL AMOUNT:

U.S.$

CUSIP:

        Unless and until it is exchanged in whole or in part for Notes in definitive form, this Note may not be transferred except as a whole by the Depositary to a
nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of
such successor Depositary. Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation ("DTC"), to the issuer or its agent for
registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or to such other entity 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.

	 
	 	 

	Issue Price:	 	Original Issue Date:
	

Interest Rate:	
 	

Stated Maturity:

Specified
Currency (If other than U.S. dollars): 

Authorized
Denominations:

                (If other than as set forth in the Prospectus Supplement) 

Exchange
Rate Agent: 

	 
	 	 
	 	 

	

Dual Currency Note:	
 	

o Yes (see addendum)	
 	

o No
	 	

Optional Payment Currency:	
 	

 	
 	

 
	 	Designated Exchange Rate:	 	 	 	 
	

Indexed Principal Note:	
 	

o Yes (see addendum)	
 	

o No

	 
	 	 

	

Interest Rate Reset:	
 	

o The Interest Rate may not be changed prior to Stated Maturity.
	

 	
 	

o The Interest Rate may be changed prior to Stated Maturity (see addendum).

A-1

 

	 
	 	 
	 	 

	

Optional Reset Dates (if applicable):	
 	

 	
 	

 
	

Amortizing Note:	
 	

o Yes	
 	

o No
	 	

Amortization Schedule:	
 	

 	
 	

 
	

Optional Redemption:	
 	

o Yes	
 	

o No
	 	

Optional Redemption Date(s):	
 	

 	
 	

 
	 	

Initial Redemption Percentage:      %	
 	

 	
 	

 
	 	

Annual Redemption Percentage Reduction:      %	
 	

 	
 	

 
	

Optional Repayment:	
 	

o Yes	
 	

o No
	 	

Optional Repayment Date(s):	
 	

 	
 	

 
	

Optional Extension of Stated Maturity:	
 	

o Yes	
 	

o No
	 	

Final Maturity:	
 	

 	
 	

 
	

Renewable Note:	
 	

o Yes (see addendum)	
 	

o No
	

Addendum Attached:	
 	

o Yes	
 	

o No

        Dated:
________________________ 

TRUSTEE'S CERTIFICATE OF AUTHENTICATION  

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

THE
BANK OF NEW YORK, as Trustee 

	

By:	
 	

 Authorized Signatory	
 	

 

A-2

   
        OCCIDENTAL PETROLEUM CORPORATION, a corporation duly organized and existing under the laws of the State of Delaware (herein referred to as the "Company"), for value received, hereby
promises to pay to CEDE & CO., or registered assigns, the face amount hereof, or, in the case of an Indexed Principal Note, the face amount hereof, adjusted by reference to prices, changes in
prices, or differences between prices, of securities, currencies, intangibles, goods, articles or commodities or by such other objective price, economic or other measures (an "Index") as described on
the face hereof or in the pricing supplement attached hereto or delivered herewith (the "principal amount" or "principal"), in the Specified Currency specified above on the Stated Maturity specified
above (unless and to the extent earlier redeemed or repaid prior to such Stated Maturity) and to pay interest on the principal amount then outstanding at the Interest Rate shown above from the
Original Issue Date specified above or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears
on                        and
                        , in each year, commencing with the first Interest Payment Date next succeeding the Original Issue Date,
at the rate per annum set forth above, until the principal amount hereof is paid
or made available for payment; provided, however, that if the Original Issue Date of this Note is between a Regular Record Date (as defined below) and
the related Interest Payment Date, the first payment of interest on this Note will be made on the Interest Payment Date immediately following the next succeeding Regular Record Date to the registered
Holder on such next succeeding Regular Record Date. 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 (as defined below), 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 fifteenth calendar day (whether or not a Business Day), as the case may be (each a "Regular Record Date"), next preceding such Interest Payment Date;  provided, however,
 that interest payable at the Stated Maturity or earlier redemption or repayment of this Note (the "Maturity") shall be payable to the
Person to whom principal shall be payable. 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 at Maturity will be made on the following day that is a Business Day as if it were made on the date such payment was due 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. Except as otherwise provided in the Indenture, any interest not punctually paid or duly provided for on any Interest Payment Date
other than at Maturity (herein called "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 (l) 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), written notice of which shall be given to the Holder of this Note by the Company not less than 10 calendar 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, if any, 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 any other place designated by the Company for such purpose, and, if the Specified Currency is U.S. dollars, 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, however, that at
the option of the Company, payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security
Register, and provided, further that, if the Holder hereof is the Holder of U.S. $1,000,000 (or the equivalent thereof in a currency other than U.S.
dollars determined as provided on the reverse hereof) or more in aggregate principal amount of Notes having the same Interest Payment Dates, at the option of the Company, such U.S. dollar interest
payments will be made 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 

A-3

 

payment date. Any wire instructions received by the Trustee shall remain in effect until revoked by the Holder. Simultaneously with any election by the Holder hereof to receive payments in respect
hereof in the Specified Currency (if other than U.S. dollars), such Holder shall provide appropriate wire transfer instructions to the Trustee and all such payments will be made by wire transfer of
immediately available funds to an account maintained by the payee with a bank located outside the United States. 

        For
purposes of this Note, "Business Day" means any day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which commercial banks are authorized or required
by law, regulation or executive order to close in The City of New York; provided, however, that, with respect to foreign currency Notes, the day is also not a day on which commercial banks are
authorized or required by law, regulation or executive order to close in the Principal Financial Center (as defined below) of the country issuing the Specified Currency or, if the Specified Currency
is euros, the day is also a day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET) System is open. 

        For
the purposes of this Note, "Principal Financial Center" means 

	(1)
	the
capital city of the country issuing the Specified Currency, except that with respect to United States dollars, Australian dollars, Canadian dollars, South African rand and Swiss
francs, the "Principal Financial Center" will be The City of New York, Sydney and Melbourne, Toronto, Johannesburg and Zurich, respectively, or

	(2)
	the
capital city of the country to which the LIBOR Currency relates, except that with respect to United States dollars, Australian dollars, Canadian dollars, South African rand and
Swiss francs, the "Principal Financial Center" will be The City of New York, Sydney, Toronto, London, Johannesburg and Zurich, respectively. 

        [The
indebtedness evidenced by this Note is, to the extent set forth in the Indenture, expressly subordinated and subject in right of payment to the prior payment in full of
Senior Indebtedness as defined in the Indenture, and this Note is issued subject to such provisions, and each Holder of this Note, by accepting the same, agrees to and shall be bound by such
provisions and authorizes and directs the Trustee in such Holder's behalf to take such action as may be necessary or appropriate to acknowledge or effectuate the subordination as provided in the
Indenture and appoints the Trustee as such Holder's attorney-in-fact for any and all such purposes.] 

        If
this Note is an Amortizing Note as shown on the face hereof or in the pricing supplement attached hereto or delivered herewith, a portion or all the principal amount of the Note is
payable prior to Stated Maturity in accordance with a schedule, by application of a formula, or by reference to an index (as described above). 

        The
principal hereof and any premium and interest hereon are payable by the Company in the Specified Currency shown above. If the Specified Currency shown above is other than U.S.
dollars, the Company will arrange to convert all payments in respect hereof into U.S. dollars in the manner described below. The Holder hereof may, if so indicated above, elect to receive all payments
in respect hereof in the Specified Currency by notifying the participant of the depositary through which its interest is held, or, in the case of certificated notes, the Trustee, at its office in the
Borough of Manhattan, the City of New York, or at such other place as the Company may designate, on or before the applicable Regular Record Date, in the case of a payment of interest, and on or before
the sixteenth day, whether or not a Business Day, before its Stated Maturity, in the case of principal or premium, of the Holder's election to receive all or a portion of any payment in a Specified
Currency. In the case of book-entry notes, the participant must notify the depositary of any election on or before the third Business Day after the Regular Record Date. The depositary or
the Trustee, as applicable, will notify the Paying Agent of the election on or before the fifth Business Day after the Regular Record Date. If complete instructions are received by the participant and
forwarded to the depositary, 

A-4

 

and forwarded by the depositary to the Paying Agent, on or before the relevant dates, the beneficial owner of this Note will receive payments in the Specified Currency. Such election will remain in
effect until revoked by written notice to the Trustee received not later than fifteen calendar days prior to the applicable payment date. If the Company determines that the Specified Currency is not
available for making payments in respect hereof due to the imposition of exchange controls or other circumstances beyond the Company's control or is no longer used by the government of the country
issuing such currency or for the settlement of transactions by public institutions or within the international banking community, then the Holder hereof may not so elect to receive payments in the
Specified Currency, and any such outstanding election shall be automatically suspended, and payments shall be in U.S. dollars, until the Company determines that the Specified Currency is again
available for making such payments. 

        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. 

        Notwithstanding
the foregoing, if an Addendum is attached hereto as specified above, this Note shall be subject to the terms set forth in such Addendum. 

        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. 

        This
Note is one of a duly authorized issue of securities (herein called the "Securities") of the Company (which term includes any successor corporation under the Indenture hereinafter
referred to) issued and to be issued pursuant to such Indenture. This Security is one of a series designated by the Company as its Medium-Term [Senior]
[Subordinated] Notes, Series [C] [A] (the "Notes"). The Indenture does not limit the aggregate principal amount of the Notes or
the Securities. 

        The
Company issued this Note pursuant to an Indenture, dated as of [April l, 1998] [January 20, 1999] (herein called the
"Indenture" which term, for the purpose of this Note, shall include the Officers' Certificate dated June 30, 1999, delivered pursuant to Sections 201 and 301 of the Indenture, and the First
Supplemental Indenture dated March 6, 2002), between the Company and The Bank of New York, 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 U.S. dollar equivalent of the public offering price or purchase
price of Notes denominated in currencies other than U.S. dollars will be determined by The Bank of New York, as exchange rate agent for the Notes (the "Exchange Rate Agent") pursuant to the Exchange
Rate Agency Agreement, dated as of March 6, 2002, between the Company and the Exchange Rate Agent. 

        The
Notes are issuable as Registered Securities, without coupons, in denominations of $1,000 (if the Specified Currency is U.S. Dollars) and any amount in excess thereof which is an
integral multiple of $1,000 (if the Specified Currency is U.S. Dollars). As provided in the Indenture and subject to certain limitations therein set forth, 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. 

A-5

 

Fixed Rate Notes  

        This Note will bear interest at the rate per annum stated on the face hereof or in an addendum hereto or delivered herewith until the principal amount hereof is
paid or made available for payment, except as otherwise described below under "Subsequent Interest Periods" and "Extension of Maturity," and except that if so specified in an addendum hereto, the rate
of interest payable on certain Fixed Rate Notes may be subject to adjustment as specified therein. Interest on this Note will be computed on the basis of a 360-day year of twelve
30-day months. 

Subsequent Interest Periods  

        If so specified on the face hereof or in an addendum hereto, the Interest Rate on this Note may be reset by the Company on the date or dates specified on the face
hereof or in an addendum hereto or delivered herewith (each an "Optional Reset Date"). Not later than 40 days prior to each Optional Reset Date, the Trustee will mail to the Holder of this
Note a notice (the "Reset Notice"), first class, postage prepaid, indicating whether the Company has elected to reset the Interest Rate, and if so, (i) such new Interest Rate and
(ii) the provisions, if any, for redemption during the period from such Optional Reset Date to the next Optional Reset Date, or, if there is no such next Optional Reset Date, to the Stated
Maturity of this Note (each such period, a "Subsequent Interest Period"), including the date or dates on which or the period or periods during which and the price or prices at which such redemption
may occur during the Subsequent Interest Period. Upon the transmittal by the Trustee of a Reset Notice to the holder of a Note, such new interest rate shall take effect automatically. Except as
modified by the Reset Notice and as described below, such Note will have the same terms as prior to the transmittal of such Reset Notice. Notwithstanding the foregoing, not later than 20 days
prior to an Optional Reset Date, the Company may, at its option, revoke the Interest Rate provided for in the Reset Notice and establish a higher Interest Rate for the Subsequent Interest Period by
causing the Trustee to mail notice of such higher Interest Rate to the Holder of this Note. Such notice shall be irrevocable. All Notes with respect to which the Interest Rate is reset on an Optional
Reset Date will bear such higher Interest Rate whether or not tendered for repayment. 

        The
Holder of this Note will have the option to elect repayment by the Company on each Optional Reset Date at a price equal to the principal amount hereof, plus interest accrued to such
Optional Reset Date. In order to obtain repayment on an Optional Reset Date, the Holder must follow the procedures set forth below for optional repayment, except that the period for delivery or
notification to the Trustee shall be at least 25 but not more than 35 days prior to such Optional Reset Date, and except that if the Holder has tendered this Note for repayment pursuant to a
Reset Notice, the Holder may, by written notice to the Trustee, revoke such tender for repayment until the close of business on the tenth day before the Optional Reset Date. 

Indexed Principal Notes  

        If this Note is an Indexed Principal Note, then the principal amount payable at Stated Maturity or earlier redemption or retirement, is determined by reference to
the amount designated on the face hereof or in an addendum hereto as the face amount of this Note and by reference to the Index as described on the face hereof or in an addendum hereto. If this Note
is an Indexed Principal Note, the principal amount payable at Stated Maturity or any earlier redemption or repayment of this Note may be different from the face amount. 

        If
a third party is appointed to calculate or announce the Index for a particular Indexed Principal Note and this third party either suspends the calculation or announcement of such
Index or changes the basis
upon which such Index is calculated, in a manner that is inconsistent with the applicable pricing supplement, then the Company will select another third party to calculate or announce the 

A-6

 

Index. The agents or their respective affiliates may be either the original or successor third party selected by the Company. 

        If
for any reason such Index cannot be calculated on the same basis and subject to the same conditions and controls as applied to the original third party, then the indexed principal
amount of such Indexed Principal Note will be calculated in the manner set forth in the applicable pricing supplement. Any determination by the selected third party will be binding on all parties,
except in the case of an obvious error. 

Specified Currency  

        If the Specified Currency is other than U.S. dollars, the amount of any U.S. dollar payment to be made in respect hereof will be determined by the Company or its
agent based on the highest firm bid quotation expressed in U.S. dollars received by the Company or its agent at approximately 11:00 a.m., New York City time, on the second Business Day
preceding the applicable payment date (or, if no such rate is quoted on such date, the last date on which such rate was quoted) from three (or, if three are not available, then two) recognized foreign
exchange dealers in The City of New York selected by the Exchange Rate Agent (one or more of which may be an agent involved in the distribution of the Notes (an "Agent") and another of which may be
the Exchange Rate Agent) for the purchase by the quoting dealer, for settlement on such payment date, of the aggregate amount of the Specified Currency payable on such payment date in respect of all
Notes denominated in such Specified Currency. All currency exchange costs will be borne by the Holders of such Notes by deductions from such payments. If no such bid quotations are available, then
such payments will be made in the Specified Currency, unless the Specified Currency is unavailable due to the imposition of exchange controls or to other circumstances beyond the Company's control, in
which case payment will be made as described in the next paragraph. 

Payments in Currencies Other than the Specified Currency  

        Except as set forth below, if any payment in respect hereof is required to be made in a Specified Currency other than U.S. dollars and such currency is
(i) unavailable due to the imposition of exchange controls or other circumstances beyond the Company's control, (ii) is no longer used by the government of the country issuing such
currency or (iii) is no longer used for the settlement of transactions by public institutions of or within the international banking community, then such payment shall be made in U.S. dollars
until such currency is again available or so used. The amount so payable on any date in such foreign currency shall be converted into U.S. dollars on the basis of the noon buying rate in New York City
for cable transfers, in the Specified Currency, as certified for customs purposes by the Federal Reserve Bank of New York (the "Market Exchange Rate") as of the second Business Day preceding that day,
or if such Market Exchange Rate is unavailable, the most recently available Market Exchange
Rate for such currency, or as otherwise indicated on the face hereof or in the pricing supplement attached hereto or delivered herewith. Any payment made under such circumstances in U.S. dollars will
not constitute an Event of Default under the Indenture. 

        In
the event of an official redenomination of the Specified Currency of this Note (other than as a result of the European Monetary Union, but including, without limitation, an official
redenomination of any such Specified Currency that is a composite currency), the obligations of the Company with respect to payments on this Note shall, in all cases, be deemed immediately following
such redenomination to provide for the payment of that amount of redenominated currency representing the amount of such obligations immediately before such redenomination. This Note does not provide
for any adjustment to any amount payable under this Note as a result of (i) any change in the value of the Specified Currency hereof relative to any other currency due solely to fluctuations in
exchange rates or (ii) any redenomination of any component currency of any composite currency (unless such composite currency is itself officially redenominated). 

A-7

 

Dual Currency Notes  

        If this Note is specified on the face hereof or in an addendum hereto as a Dual Currency Note, the Company may have a one time option, exercisable on one or more
dates (each an "Option Election Date"), with respect to all Dual Currency Notes issued on the same day and having the same terms (a "Tranche"), of thereafter making all payments of principal, premium,
if any, and interest (which payments would otherwise be made in the Specified Currency of such Notes) in an optional currency (the "Optional Payment Currency"). Such option will be exercisable in
whole but not in part on an Option Election Date, which will be any one of the dates specified on the face hereof or in an addendum hereto. 

        If
the Company makes such an election, the amount payable in the Optional Payment Currency shall be determined using the Designated Exchange Rate specified on the face hereof or in an
addendum hereto. If such election is made, notice of such election shall be mailed in accordance with the terms of the applicable Tranche of Dual Currency Notes within two Business Days of the Option
Election Date and shall state (i) the first date, whether an Interest Payment Date and/or Stated Maturity, on which scheduled payments in the Optional Payment Currency will be made and
(ii) the Designated Exchange Rate. Any such notice by the Company, once given, may not be withdrawn. The equivalent value in the Specified Currency of payments made after such an election may
be less, at the then current exchange rate, than if the Company had made such payment in the Specified Currency. 

Renewable Notes  

        If this Note is specified on the face hereof or in an addendum hereto as a Renewable Note, this Note will mature on an Interest Payment Date occurring in or prior
to the twelfth month following the Original Issue Date of this Note (the "Initial Stated Maturity") unless the term of all or any portion of this Note is renewed in accordance with the following
procedures. 

        On
the Interest Payment Date occurring in the sixth month (unless a different interval (the "Special Election Interval") is specified on the face hereof or in the pricing supplement
attached hereto or delivered herewith) prior to the Initial Stated Maturity of this Note (the "Initial Renewal Date") and on the Interest Payment Date occurring in each sixth month (or in the last
month of each Special Election Interval) after such Initial Renewal Date (each, together with the Initial Renewal Date, a "Renewal Date"), the term of this Note may be extended to the Interest Payment
Date occurring in the twelfth month (or, if a Special Election Interval is specified on the face hereof or in the pricing supplement attached hereto or delivered herewith, the last month in a period
equal to twice the Special Election Interval) after such Renewal Date, if the Holder of this Note elects to extend the term of this Note or any portion thereof as described below. If the Holder does
not elect to extend the term of any portion of the principal amount of this Note during the specified period prior to any Renewal Date, such portion will become due and payable on the Interest Payment
Date occurring in the sixth month (or the last month in the Special Election Interval) after such Renewal Date (the "New Maturity Date"). 

        The
Holder may elect to renew the term of this Note, or if so specified, any portion thereof, by delivering a notice to such effect to the Trustee (or any duly appointed paying agent) at
the corporate trust office of the Trustee or agency of the Trustee in the City of New York not less than 15 nor more than 30 days prior to such Renewal Date. Such election will be irrevocable
and will be binding upon each subsequent Holder of this Note. An election to renew the term of this Note may be exercised with respect to less than the entire principal amount of this Note only if so
specified on the face hereof or in an addendum hereto and then only in such principal amount, or any integral multiple in excess of such amount, as is specified on the face hereof or in the pricing
supplement attached hereto or delivered herewith. Notwithstanding the foregoing, the term of this Note may not be extended beyond the Stated Maturity specified for this Note on the face hereof or in
an addendum hereto. 

A-8

 

        If
the Holder does not elect to renew the term, this Note must be presented to the Trustee (or any duly appointed paying agent) and, as soon as practicable following receipt of such Note
the Trustee (or any duly appointed paying agent) shall issue in exchange therefor in the name of such Holder (i) a Note, in a principal amount equal to the principal amount of such exchanged
Note for which no election to renew the term thereof was exercised, with terms identical to those specified on such exchanged Note (except that such Note shall have a fixed, nonrenewable Stated
Maturity on the New Maturity Date) and (ii) if an election to renew is made with respect to less than the full principal amount of such Holder's Note, the Trustee, or any duly appointed paying
agent, shall issue in exchange for such Note in the name of such Holder, a replacement Renewable Note, in a principal amount equal
to the principal amount of such exchanged Note for which the election to renew was made, with terms otherwise identical to the exchanged Note. 

Extension of Maturity  

        If so specified on the face hereof or in an addendum hereto, the Maturity of this Note may be extended at the option of the Company for one or more periods of
whole years specified on the face hereof or in the pricing supplement attached hereto or delivered herewith (each an "Extension Period") from one to five, up to but not beyond the date (the "Final
Maturity") set forth on the face hereof or in an addendum hereto. The Company may exercise such option by notifying the Trustee for this Note at least 45 but not more than 60 days prior to the
old Stated Maturity of this Note. If the Company exercises such option, the Trustee will mail to the Holder of this Note not later than 40 days prior to the old Stated Maturity a notice (the
"Extension Notice") first class, postage prepaid indicating (i) the election of the Company to extend the Stated Maturity, (ii) the new Stated Maturity, (iii) the Interest Rate
applicable to the Extension Period and (iv) the provisions, if any, for redemption during such Extension Period including the date or dates on which, or the period or periods during which, and
the price or prices at which such redemption may occur during the extension period. 

        Upon
the Trustee's mailing of the Extension Notice, the Stated Maturity of this Note shall be extended automatically and, except as modified by the Extension Notice and as described in
the next paragraph, this Note will have the same terms as prior to the mailing of such Extension Notice. Notwithstanding the foregoing, not later than 20 days prior to the old Stated Maturity
of this Note, the Company may, at its option, revoke the Interest Rate provided for in the Extension Notice and establish a higher Interest Rate for the Extension Period by causing the Trustee to mail
notice of such higher Interest Rate, first class, postage prepaid to the Holder of this Note. Such notice shall be irrevocable. All Notes with respect to which the Stated Maturity is extended will
bear such higher Interest Rate for the extension period, whether or not tendered for repayment. 

        If
the Company extends the Stated Maturity of this Note, the Holder will have the option to elect repayment of this Note by the Company on the old Stated Maturity at a price equal to the
principal amount hereof, plus interest accrued to such date. In order to obtain repayment on such old Stated Maturity once the Company has extended the Stated Maturity hereof, the Holder must follow
the procedures set forth below for optional repayment, except that the period for delivery of this Note or notification to the Trustee shall be at least 25 but not more than 35 days before the
old Stated Maturity, and except that if the Holder has tendered this Note for repayment pursuant to an Extension Notice, the Holder may, by written notice to the Trustee, revoke such tender for
repayment until the close of business on the tenth day before the old Stated Maturity. 

Optional Redemption, Repayment and Repurchase  

        This Note will be subject to redemption at the option of the Company on any date on or after the first Optional Redemption Date, if any, specified on the face
hereof, in whole or from time to time in part
in increments of U.S.$1,000 (if the Specified Currency is U.S. dollars) or such other increment specified on the face hereof under Authorized Denomination (if the Specified Currency is not U.S. 

A-9

 

dollars) (provided that any remaining principal amount hereof shall be an Authorized Denomination and at least the minimum Authorized Denomination hereof) at the Redemption Price (as defined below),
together with unpaid interest accrued thereon to the date fixed for redemption (the "Redemption Date"), on written notice given to the Holder hereof (in accordance with the provisions of the
Indenture) not more than 60 nor less than 30 calendar days prior to the Redemption Date. The "Redemption Price" shall be the Initial Redemption Percentage specified on the face hereof (as adjusted by
the Annual Redemption Percentage Reduction, if any, specified on the face hereof as set forth below) multiplied by the unpaid principal amount of this Note to be redeemed. The Initial Redemption
Percentage, if any, shall decline at each anniversary of the Initial Redemption Date by the Annual Redemption Percentage Reduction, if any, until the Redemption Price is equal to 100% of the unpaid
principal amount to be redeemed. Whenever less than all of the Notes of like tenor and terms are to be redeemed, the Notes to be redeemed and the Holders thereof shall be selected by the Trustee by
such method as the Trustee shall deem fair and reasonable. In the event of redemption of this Note in part only, a new Note of like tenor and otherwise having the same terms as this Note for the
unredeemed portion hereof shall be issued by the Company in the name of the Holder hereof, without charge, upon the presentation and surrender hereof. 

        This
Note will be subject to repayment by the Company at the option of the Holder hereof on the Optional Repayment Date(s), if any, specified on the face hereof, in whole or from time to
time in part in increments of U.S.$l,000 (if the Specified Currency is U.S. dollars) or such other increment specified on the face hereof under Authorized Denomination (if the Specified Currency is
not U.S. dollars) (provided that any remaining principal amount hereof shall be an Authorized Denomination and at least the minimum Authorized Denomination hereof) at a repayment price equal to 100%
of the unpaid principal amount to be repaid, together with unpaid interest accrued thereon to the date fixed for repayment (the "Repayment Date"). For this Note to be repaid, the Trustee must receive
at its office, currently located at 101 Barclay Street, 21 West, New York, New York, not more than 60 nor less than 30 calendar days prior to the Repayment Date, (i) in the case of a
certificated note, such certificated note and the form thereon entitled "Option to Elect Repayment" duly completed or (ii) in the case of a book-entry note, instructions to such
effect from the applicable Beneficial Owner to the Depositary and forwarded by the Depositary. Exercise of such repayment option by the Holder hereof will be irrevocable. In the event of repayment of
this Note in part only, a new Note of like tenor and terms for the unrepaid portion hereof and otherwise having the same terms as this Note shall be issued by the Company in the name of the Holder
hereof without charge, upon the presentation and 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 Notes shall relate, in the case of any
Notes redeemed or to be redeemed by the Company only in part, to that portion of the principal amount of such Notes that has been or is to be so redeemed. 

Events of Default  

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

Amendment of Indenture  

        The Indenture permits, in certain circumstances therein specified, the amendment thereof without the consent of the Holders of the Notes. 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 the Holders of not less than a majority in principal amount of the
Outstanding Securities of each series to be affected. 

A-10

 

The Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of the Outstanding Securities of each series, on behalf of the Holders of all the 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 or, 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. 

Defeasance  

        The Indenture permits the Company, by irrevocably depositing, 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, cash or U.S. Government Obligations with the Trustee in trust solely for the benefit of the Holders of all Outstanding Notes, to
defease the Indenture with respect to such Notes, and upon such deposit the Company shall be deemed to have paid and discharged its entire indebtedness on such Notes. Thereafter, Holders would be able
to look only to such trust fund for payment of principal and interest at the Stated Maturity or Redemption Date, as the case may be. 

Transfer of 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 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 hereof 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. 

        Transfers
of ownership interests in a Global Note representing Notes in book-entry form are to be accomplished by entries made on the books of participants of the depositary
acting on behalf of of beneficial owners. 

        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, 906 or 1107 of the Indenture not involving any transfer or as
provided in the Indenture). 

        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. 

A-11

 

Governing Law  

        The Indenture and the Notes shall be governed by and construed in accordance with the laws of the State of New York, including, without limitation,
Section 5-1401 of the New York General Obligations Law. 

        All
undefined terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

A-12

 

        IN
WITNESS WHEREOF, Occidental Petroleum Corporation has caused this Instrument to be signed by the signature or facsimile signature of its Chairman of the Board, President, a Vice
President, its Treasurer or an Assistant Treasurer and attested by its Secretary or an Assistant Secretary by his or her signature or a facsimile thereof, and its corporate seal or a facsimile of its
corporate seal to be affixed hereunto or imprinted hereon. 

	(SEAL)	 	OCCIDENTAL PETROLEUM CORPORATION
	 	 	 	 	 
	 	 	 	 	 
	

 	
 	

By:	
 	

 Title:

Attest:

	
 Title:	 

A-13

  

 
 

ABBREVIATIONS    
  

        The
following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable laws or
regulations: 

	TEN COM	 	—	 	as tenants in common	 	UNIF GIFT MIN ACT	 	.....................  Custodian	 	.....................
	 	 	 	 	 	 	 	 	(Cust.)                	 	(Minor)
	TEN ENT	 	—	 	as tenants by the entireties	 	 	 	Under Uniform Gifts to Minor Act
	JT TEN	 	—	 	as joint tenants with right of	 	 	 	 	 	 
	 	 	 	 	survivorship and not as tenants	 	 	 	............................................................
	 	 	 	 	in common	 	 	 	      (State)

Additional abbreviations may also be used though not in the above list. 

FOR
VALUE RECEIVED, the undersigned hereby sells(s), assign(s) and transfer(s) unto 

	 	 	Please Insert Social Security or Employer	 	 
	 	 	Identification Number of Assignee	 	 
	

	
	 	 	 	

	
	 	 	 	

	
	 	 	 	

	
	 	 	 	

	

Please Print or Typewrite Name and Address

Including Postal Zip Code of Assignee 

the
within Security and all rights thereunder, hereby irrevocably constituting and appointing                        attorney to
transfer said Security on the books of the Company, with full power of
substitution in the premises. 

	Dated:	 	 	 
	 	
	 	
 Signature

NOTICE:
The signature to this assignment must correspond with the name as it appears upon the face of the within Note in every particular, without alteration or enlargement or any change whatever. 

A-14

 
OPTION TO ELECT REPAYMENT  

        The undersigned hereby irrevocably request(s) and instruct(s) the Company to repay this Note (or portion hereof specified below) pursuant to its terms at a price
equal to 100% of the principal amount to be repaid, together with unpaid interest accrued hereon to, but not including, the Repayment Date, to the undersigned, at: 

(Please print or typewrite name and address of the undersigned) 

        For
this Note to be repaid, the Trustee must receive at its office in the Borough of Manhattan, The City of New York, currently located 101 Barclay Street, 21 West not more than 60 nor
less than 30 calendar days prior to the Repayment Date, this Note with this "Option to Elect Repayment" form duly completed. 

        If
less than the entire principal amount of this Note is to be repaid, specify the portion hereof (which shall be increments of U.S.$ 1,000 or other Authorized Denomination specified on
the face hereof (provided that any remaining principal amount shall be at least U.S.$100,000 or the minimum Authorized Denomination)) which the Holder elects to have repaid and specify the
denomination or denominations (which shall be U.S.$100,000 or the minimum Authorized Denomination) of the Notes to be issued to the Holder for the portion of this Note not being repaid (in the absence
of any such specification, one such Note will be issued for the portion not being repaid). 

Principal
amount to be repaid $ 

Option
to Elect Repayment Date: 

Notice:    The
signature(s) on this must correspond with the name(s) as written upon the face of this Note in every particular, without alteration or enlargement or any change whatsoever. 

	Dated:	 	 	 
	 	
	 	
 Signature

A-15

  

 
 

Exhibit B    
  

[Form
of Global Fixed Rate Registered Security—United States] 

	 
	 	 
	 	 

	REGISTERED	 	 	 	REGISTERED
	

OCCIDENTAL PETROLEUM CORPORATION
	

NO. FXR-	
 	

MEDIUM-TERM [SENIOR] [SUBORDINATED]

NOTE, SERIES [C] [A]

(Floating or Indexed Rate)	
 	

PRINCIPAL AMOUNT:

U.S.$

CUSIP:

        Unless and until it is exchanged in whole or in part for Notes in definitive form, this Note may not be transferred except as a whole by the Depositary to a
nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of
such successor Depositary. Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation ("DTC"), to the issuer or its agent for
registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or to such other entity 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.

	 
	 	 

	Issue Price:	 	Original Issue Date:
	

Initial Interest Rate:	
 	

Stated Maturity:

Specified
Currency (If other than U.S. dollars): 

Authorized
Denominations:

                (If other than as set forth in the Prospectus Supplement) 

	 
	 	 
	 	 

	Exchange Rate Agent:	 	Calculation Agent:	 	 
	

Dual Currency Note:	
 	

o Yes (see addendum)	
 	

o No
	 	

Optional Payment Currency:	
 	

 	
 	

 
	 	Designated Exchange Rate:	 	 	 	 
	

Interest Rate Basis or Bases:	
 	

 	
 	

 
	

If LIBOR:	
 	

If CMT Rate:	
 	

 
	

o LIBOR Reuters	
 	

Designated CMT Moneyline Telerate
	 	Page:	 	    Page:	 	 
	

o LIBOR Telerate	
 	

If Moneyline Telerate Page 7052:
	 	Page:	 	    o Weekly Average	 	 
	 	 	    o Monthly Average	 	 

B-1

 

	

Designated LIBOR Currency:	
 	

Designated CMT Maturity Index:
	

Interest Reset Period	
 	

Index Maturity:	
 	

 
	or Interest Reset Dates:	 	 	 	 
	

Interest Payment Dates:	
 	

 	
 	

 
	

Indexed Principal Note:	
 	

o Yes (see addendum)	
 	

o No
	

Spread Multiplier:	
 	

Spread (+/-):

	 
	 	 

	

Spread Reset:	
 	

o The Spread or Spread Multiplier may not be changed prior to Stated Maturity.
	

 	
 	

o The Spread or Spread Multiplier may be changed prior to Stated Maturity (see addendum).

B-2

 

	 
	 	 
	 	 

	

Optional Reset Dates (if applicable):	
 	

 	
 	

 
	

Maximum Interest Rate:	
 	

Minimum Interest Rate:	
 	

 
	

Regular Floating Rate Note:	
 	

o Yes	
 	

o No
	

Inverse Floating Rate Note:	
 	

o Yes (see addendum)	
 	

o No
	 	

Fixed Interest Rate:	
 	

%	
 	

 
	

Floating Rate / Fixed Rate Note:	
 	

o Yes (see addendum)	
 	

o No
	 	

Fixed Rate Commencement Date:	
 	

 	
 	

 
	 	

Fixed Interest Rate:	
 	

%	
 	

 
	

Day Count Convention:	
 	

 	
 	

 
	 	

o 30/360 for the period from	
 	

____________ to ____________
	 	

o Actual/360 for the period from	
 	

____________ to ____________
	 	

o Actual/Actual for the period from	
 	

____________ to ____________
	 	

Applicable Interest Rate Basis:	
 	

 	
 	

 
	

Amortizing Note:	
 	

o Yes	
 	

o No
	 	

Amortization Schedule:	
 	

 	
 	

 
	

Optional Redemption:	
 	

o Yes	
 	

o No
	 	

Optional Redemption Date(s):	
 	

 	
 	

 
	 	

Initial Redemption Percentage:	
 	

 	
 	

 
	 	

Annual Redemption Percentage Reduction:	
 	

 	
 	

%
	

Optional Repayment:	
 	

o Yes	
 	

o No
	 	

Optional Repayment Date(s):	
 	

 	
 	

 
	

Discount Note:	
 	

o Yes	
 	

o No
	 	

Issue Price:	
 	

%	
 	

 
	 	

Yield to Maturity:	
 	

 	
 	

 
	

Optional Extension of Stated Maturity:	
 	

o Yes	
 	

o No
	 	

Final Maturity:	
 	

 	
 	

 
	

Renewable Note:	
 	

o Yes (see addendum)	
 	

o No
	

Addendum Attached:	
 	

o Yes	
 	

o No

Special
Election Interval (if applicable): 

Amount
(if less than entire principal amount)

as to which election may be exercised: 

        Dated:
________________________ 

B-3

 
TRUSTEE'S CERTIFICATE OF AUTHENTICATION  

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

THE
BANK OF NEW YORK, as Trustee 

	

By:	
 	

 Authorized Signatory	
 	

 

B-4

   
        OCCIDENTAL PETROLEUM CORPORATION, a corporation duly organized and existing under the laws of the State of Delaware (herein referred to as the "Company"), for value received, hereby
promises to pay to CEDE & CO., or registered assigns, the face amount hereof, or, in the case of an Indexed Principal Note, the face amount hereof, adjusted by reference to prices, changes in
prices, or differences between prices, of securities, currencies, intangibles, goods, articles or commodities or by such other objective price, economic or other measures (an "Index") as described on
the face hereof or in the pricing supplement attached hereto or delivered herewith (the "principal amount" or "principal"), in the Specified Currency specified above on the Stated Maturity specified
above (unless and to the extent earlier redeemed or repaid prior to such Stated Maturity) and to pay interest on the principal amount then outstanding from the Original Issue Date specified above or
from the most recent Interest Payment Date to which interest has been paid or duly provided for at a rate per annum equal to the Initial Interest Rate specified above until the first Interest Reset
Date specified above following the Original Issue Date specified above and thereafter at a rate determined in accordance with the provisions specified herein or in an Addendum hereto with respect to
one or more Interest Rate Bases specified above, which Interest Rate Basis or Bases may be adjusted by adding or subtracting the Spread and/or multiplying the applicable Interest Rate Basis by the
Spread Multiplier depending on whether a Spread and/or Spread Multiplier is specified above, until the principal hereof is paid or duly made available for payment. The "Spread," if any, is the number
of basis points to be added to or subtracted from the Interest Rate Basis or Bases, as specified above, and the "Spread Multiplier," if any, is the percentage of the Interest Rate Basis or Bases, as
specified above, by which such Interest Rate Basis or Bases are to be multiplied. The "Index Maturity," if any, is the period to maturity of the instrument or obligation with respect to which the
related Interest Rate Basis or Bases are calculated, as designated above. If more than one Interest Rate Basis is specified above, the applicable Interest Rate Basis shall be the lowest of such
Interest Rate Bases on the Interest Determination Date. The Company will pay interest in arrears on each Interest Payment Date, if any, specified above (each, an "Interest Payment Date"), commencing
with the first Interest Payment Date next succeeding the Original Issue Date specified above, and at the Stated Maturity or earlier redemption or repayment of this Note (the "Maturity");  provided, however, that if the Original Issue Date occurs between a Record Date (as defined below) and the next succeeding Interest Payment Date,
interest payments will commence on the second Interest Payment Date next succeeding the Original Issue Date and will be payable to the registered holder (the "Holder") of this Note at the close of
business on the Record Date with respect to such second Interest Payment Date. 

        Interest
on this Note will accrue from, and including, the immediately preceding Interest Payment Date to which interest has been paid or duly provided for (or from, and including, the
Original Issue Date if no interest has been paid or duly provided for) to, but excluding, the applicable Interest Payment Date or the Stated Maturity, as the case may be (each, an "Interest Period").
The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, subject to certain exceptions described herein, 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 fifteenth calendar day (whether or not a Business Day, as defined below) immediately preceding such Interest Payment
Date (the "Record Date"); provided, however, that interest payable on the Maturity will be payable to the Person to whom the principal hereof and
premium, if any, hereon shall be payable. 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 at Maturity will be made on the following day that is a Business Day,
except that if LIBOR is an applicable Interest Rate Basis and such Business Day falls in the next succeeding calendar month, such Interest Payment Date shall be the immediately preceding Business Day,
as if it were made on the date such payment was due 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.
Except as otherwise provided in the Indenture, any interest not punctually paid or duly provided for ("Defaulted Interest") on any Interest Payment Date other than the at Maturity will forthwith cease
to be payable 

B-5

 

to the Holder hereof as of the close of business on the related Record Date and, instead, 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 (the "Special Record Date") for the payment of such Defaulted Interest to be fixed by the Company, written notice whereof shall be given
to the Holder of this Note by the Company not less than 10 calendar 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, if any, 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 any other place designated by the
Company for such purpose, and, if the Specified Currency is U.S. dollars, 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, however, that at the option of the Company, payment of interest may be made by check mailed to the address of the Person
entitled thereto as such address shall appear in the Security Register, and provided, further that, if the Holder hereof is the Holder of U.S.
$1,000,000 (or the equivalent thereof in a currency other than U.S. dollars determined as provided on the reverse hereof) or more in aggregate principal amount of Notes having the same Interest
Payment Dates, at the option of the Company, such U.S. dollar interest payments will be made 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 payment date. Any wire instructions received by the Trustee shall remain in effect until revoked by the Holder.
Simultaneously with any election by the Holder hereof to receive payments in respect hereof in the Specified Currency (if other than U.S. dollars), such Holder shall provide appropriate wire transfer
instructions to the Trustee and all such payments will be made by wire transfer of immediately available funds to an account maintained by the payee with a bank located outside the United States. 

        For
purposes of this Note, "Business Day" means any day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which commercial banks are authorized or required
by law, regulation or executive order to close in The City of New York; provided, however, that, with respect to foreign currency Notes, the day is also not a day on which commercial banks are
authorized or required by law, regulation or executive order to close in the Principal Financial Center (as defined below) of the country issuing the Specified Currency or, if the Specified Currency
is euros, the day is also a day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET) System is open. 

        For
the purposes of this Note, "Principal Financial Center" means 

	(1)
	the
capital city of the country issuing the Specified Currency, except that with respect to United States dollars, Australian dollars, Canadian dollars, South African rand and Swiss
francs, the "Principal Financial Center" will be The City of New York, Sydney and Melbourne, Toronto, Johannesburg and Zurich, respectively, or

	(2)
	the
capital city of the country to which the LIBOR Currency relates, except that with respect to United States dollars, Australian dollars, Canadian dollars, South African rand and
Swiss francs, the "Principal Financial Center" will be The City of New York, Sydney, Toronto, London, Johannesburg and Zurich, respectively. 

        [The
indebtedness evidenced by this Note is, to the extent set forth in the Indenture, expressly subordinated and subject in right of payment to the prior payment in full of
Senior Indebtedness as defined in the Indenture, and this Note is issued subject to such provisions, and each Holder of this Note, by accepting the same, agrees to and shall be bound by such
provisions and authorizes and directs the Trustee in such Holder's behalf to take such action as may be necessary or appropriate to 

B-6

 

acknowledge or effectuate the subordination as provided in the Indenture and appoints the Trustee as such Holder's attorney-in-fact for any and all such purposes.] 

        If
this Note is an Amortizing Note as shown on the face hereof or in the pricing supplement attached hereto or delivered herewith, a portion or all the principal amount of the Note is
payable prior to Stated Maturity in accordance with a schedule, by application of a formula, or by reference to an index (as described above). 

        The
principal hereof and any premium and interest hereon are payable by the Company in the Specified Currency shown above. If the Specified Currency shown above is other than U.S.
dollars, the Company will arrange to convert all payments in respect hereof into U.S. dollars in the manner described below. The Holder hereof may, if so indicated above, elect to receive all payments
in respect hereof in the Specified Currency by notifying the participant of the depositary through which its interest is held, or, in the case of certificated notes, the Trustee, at its office in the
Borough of Manhattan, the City of New York, or at such other place as the Company may designate, on or before the applicable Record Date, in the case of a payment of interest, and on or before the
sixteenth day, whether or not a Business Day, before its Stated Maturity, in the case of principal or premium, of the Holder's election to receive all or a portion of any payment in a Specified
Currency. In the case of book-entry notes, the participant must notify the depositary of any election on or before the third Business Day after the Record Date. The depositary or the
Trustee, as applicable, will notify the Paying Agent of the election on or before the fifth Business Day after the Record Date. If complete instructions are received by the participant and forwarded
to the depositary, and forwarded by the depositary to the Paying Agent, on or before the relevant dates, the beneficial owner of this Note will receive payments in the Specified Currency. Such
election will remain in effect until revoked by written notice to the Trustee received not later than fifteen calendar days prior to the applicable payment date. If the Company determines that the
Specified Currency is not available for making payments in respect hereof due to the imposition of exchange controls or other circumstances beyond the Company's control or is no longer used by the
government of the country issuing such currency or for the
settlement of transactions by public institutions or within the international banking community, then the Holder hereof may not so elect to receive payments in the Specified Currency, and any such
outstanding election shall be automatically suspended, and payments shall be in U.S. dollars, until the Company determines that the Specified Currency is again available for making such payments. 

        Notwithstanding
the foregoing, if an Addendum is attached hereto this Note as specified above, this Note shall be subject to the terms set forth in such Addendum. 

        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. 

        This
Note is one of a duly authorized issue of securities (herein called the "Securities") of the Company (which term includes any successor corporation under the Indenture hereinafter
referred to) issued and to be issued pursuant to such Indenture. This Security is one of a series designated by the Company as its Medium-Term [Senior]
[Subordinated] Notes, Series [C] [A] (the "Notes"). The Indenture does not limit the aggregate principal amount of the Notes or
the Securities. 

The
Company issued this Note pursuant to an Indenture, dated as of [April l, 1998] [January 20, 1999] (herein called the "Indenture" which term,
for the purpose of this Note, shall include the Officers' Certificate dated June 30, 1999, delivered pursuant to Sections 201 and 301 of the Indenture, and the First Supplemental Indenture
dated March 6, 2002), between the Company and The Bank of New 

B-7

 

York, 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 U.S. dollar equivalent of the public offering price or purchase price of Notes denominated in currencies other than U.S. dollars will be determined by The Bank of
New York, as exchange rate agent for the Notes (the "Exchange Rate Agent") pursuant to the Exchange Rate Agency Agreement, dated as of March 6, 2002, between the Company and the Exchange Rate
Agent. 

        The
Notes are issuable as Registered Securities, without coupons, in denominations of $1,000 (if the Specified Currency is U.S. Dollars) and any amount in excess thereof which is an
integral multiple of $1,000 (if the Specified Currency is U.S. Dollars). As provided in the Indenture and subject to certain limitations therein set forth, 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. 

Floating Rate and Index Rate Notes  

        The interest rate borne by this Note will be determined as follows: 

        (i)    Unless
this Note is specified on the face hereof as being a "Floating Rate/Fixed Rate Note" or an "Inverse Floating Rate Note", or the face hereof specifies that an
Addendum hereto applies, in each case, relating to a different interest rate formula, this Note shall be designated as a "Regular Floating Rate Note" and, except as set forth below or specified on the
face hereof or in an Addendum hereto, shall bear interest at the rate determined by reference to the applicable Interest Rate Basis or Bases (a) plus or minus the Spread, if any, and/or
(b) multiplied by the Spread Multiplier, if any, in each case as specified on the face hereof. Commencing on the first Interest Reset Date or Optional Reset Date, if any, the rate at which
interest on this Note shall be payable shall be reset as of each Interest Reset Date and Optional Reset Date elected by the Company, if any, specified on the face hereof,  provided, however, that the
interest rate in effect for the period, from the Original Issue Date to the first Interest Reset Date, or Optional Reset
Date, if applicable, shall be the Initial Interest Rate. 

        (ii)  If
this Note is specified on the face hereof as being a "Floating Rate/Fixed Rate Note", then, except as set forth below or specified on the face hereof or in an
Addendum hereto, this Note shall bear interest at the rate determined by reference to the applicable Interest Rate Basis or Bases (a) plus or minus the applicable Spread, if any, and/or
(b) multiplied by the applicable Spread Multiplier, if any, in each case as specified on the face hereof. Commencing on the first Interest Reset Date or Optional Reset Date, if any, the rate at
which interest on this Note shall be payable shall be reset as of each Interest Reset Date and Optional Reset Date elected by the Company, if any; provided,
however, that (y) the interest rate in effect for the period from the Original Issue Date to the first Interest Reset Date shall be the Initial Interest Rate and
(z) the interest rate in effect (the "Fixed Interest Rate") for the period commencing on the Fixed Rate Commencement Date specified on the face hereof to the Stated Maturity shall be the Fixed
Interest Rate specified on the face hereof or, if no such Fixed Interest Rate is specified, the interest rate in effect hereon on the day immediately preceding the Fixed Rate Commencement Date. 

        (iii)  If
this Note is specified on the face hereof as being an "Inverse Floating Rate Note", then, except as set forth below or specified on the face hereof or in an
Addendum hereto, this Note shall bear interest at the Fixed Interest Rate specified on the face hereof minus the rate 

B-8

 

determined by reference to the applicable Interest Rate Basis or Bases (a) plus or minus the applicable Spread, if any, and/or (b) multiplied by the applicable Spread Multiplier, if
any, in each case as specified on the face hereof, provided, however, that, unless otherwise specified on the face hereof or in an Addendum hereto, the
interest rate hereon shall not be less than zero. Commencing on the first Interest Reset Date or Optional Reset Date elected by the Company, if any, the rate at which interest on this Note shall be
payable shall be reset as of each Interest Reset Date and Optional Reset Date elected by the Company, if any; provided, however, that the interest rate
in effect for the period from the Original Issue Date to the first Interest Reset Date, or Optional Reset Date elected by the Company shall be the Initial Interest Rate. 

        Except
as set forth above or specified on the face hereof or in an Addendum hereto, the interest rate in effect on each day shall be (i) if such day is an Interest Reset Date, the
interest rate determined as of the Interest Determination Date (as defined below) immediately preceding such Interest Reset Date or (ii) if such day is not an Interest Reset Date, the interest
rate determined as of the Interest Determination Date immediately preceding the most recent Interest Reset Date. If any Interest Reset Date would otherwise be a day that is not a Business Day, such
Interest Reset Date shall be postponed to the next succeeding Business Day, except that if LIBOR is an applicable Interest Rate Basis and such Business Day falls in the next succeeding calendar month,
such Interest Reset Date shall be the immediately preceding Business Day. In addition, if the Treasury Rate is an applicable Interest Rate Basis and the Interest Determination Date would otherwise
fall on an Interest Reset Date, then such Interest Reset Date will be postponed to the next succeeding Business Day. 

        The
interest rate applicable to each Interest Reset Period commencing on the related Interest Reset Date will be the rate determined by the Calculation Agent as of the applicable
Interest Determination Date and will be calculated by the Calculation Agent on or prior to the Calculation Date (as defined below), except with respect to LIBOR and the Eleventh District Cost of Funds
Rate, which will be calculated on such Interest Determination Date. The "Interest Determination Date" with respect to the CD Rate, the CMT Rate, the Commercial Paper Rate, the Federal Funds Rate and
the Prime Rate will be the second Business Day immediately preceding the applicable Interest Reset Date; the "Interest Determination Date" with respect to the Eleventh District Cost of Funds Rate
shall be the last Business Day of the month immediately preceding the applicable Interest Reset Date on which the Federal Home Loan Bank of San Francisco (the "FHLB of San Francisco") publishes the
Index (as defined below); and the "Interest Determination Date" with respect to LIBOR shall be the second London Business Day immediately preceding the applicable Interest Reset Date, unless the
Designated LIBOR Currency is British pounds sterling, in which case the "Interest Determination Date" will be the applicable Interest Reset Date. The "Interest Determination Date" with respect to the
Treasury Rate shall be the day in the week in which the applicable Interest Reset Date falls on which day Treasury Bills (as defined below) are normally auctioned (Treasury Bills are normally sold at
an auction held on Monday of each week, unless such Monday is a legal holiday, in which case the auction is normally held on the immediately succeeding Tuesday, although such auction may be held on
the preceding Friday); provided, however, that if an auction is held on the Friday of the week preceding the applicable Interest Reset Date, the
"Interest Determination Date" shall be such preceding Friday; provided, further, that if the Interest Determination Date would otherwise fall on an Interest Reset Date then such Interest Reset Date
will be postponed to the next succeeding Business Day. If the interest rate of this Note is determined with reference to two or more Interest Rate Bases specified on the face hereof, the "Interest
Determination Date" pertaining to this Note shall be the most recent Business Day which is at least two Business Days prior to the applicable Interest Reset Date on which each Interest Rate Basis is
determinable. Each Interest Rate Basis shall be determined as of such date, and the applicable interest rate shall take effect on the related Interest Reset Date. 

B-9

 

        Unless
otherwise specified on the face hereof or in an Addendum hereto, the rate with respect to each Interest Rate Basis will be determined by the Calculation Agent in accordance with
the applicable provisions below. 

        CD Rate.    If an Interest Rate Basis for this Note is specified on the face hereof as the CD Rate, the CD Rate shall be
determined as of the applicable Interest Determination Date (a "CD Rate Interest Determination Date") as the rate on such date for negotiable United States dollar certificates of deposit having the
Index Maturity specified on the face hereof as published in H.15(519) (as defined below) under the heading "CDs (secondary market)" or, if not published by 3:00 P.M., New York City time,
on the related Calculation Date, the rate on such CD Rate Interest Determination Date for negotiable United States dollar certificates of deposit of the Index Maturity specified on the face hereof as
published in H.15 Daily Update (as hereinafter defined), or such other recognized electronic source used for the purpose of displaying such rate, under the heading "CDs (secondary market).". If such
rate is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M., New York City time, on the related Calculation Date, then the CD Rate on such CD
Rate Interest Determination Date will be calculated by the Calculation Agent specified on the face hereof and will be the arithmetic mean of the secondary market offered rates as of 10:00 A.M.,
New York City time, on such CD Rate Interest Determination Date, of three leading nonbank dealers in negotiable United States dollar certificates of deposit in The City of New York (which may include
the agents or their respective affiliates (the "Agents," which term, as used herein, includes their respective successors) or their affiliates) selected by the Calculation Agent for negotiable United
States dollar certificates of deposit of major United States money market banks for negotiable United States dollar certificates of deposit with a remaining maturity closest to the Index Maturity
specified on the face hereof in an amount that is representative for a single transaction in that market at that time; provided, however, that if the
dealers so selected by the Calculation Agent are not quoting as mentioned in this sentence, the CD Rate determined as of such CD Rate Interest Determination Date will be the CD Rate in effect on such
CD Rate Interest Determination Date. 

        "H.15(519)"
means the weekly statistical release designated as such, or any successor publication, published by the Board of Governors of the Federal Reserve System. 

        "H.15
Daily Update" means the daily update of H.15(519), available through the world-wide-web site of the Board of Governors of the Federal Reserve System at
http://www.federalreserve.gov/releases/h15/update, or any successor site or publication. 

        CMT Rate.    If an Interest Rate Basis for this Note is specified on the face hereof as the CMT Rate, the CMT Rate shall be
determined as of the applicable Interest Determination Date (a"CMT Rate Interest Determination Date") as the rate displayed on the Designated CMT Moneyline Telerate Page (as defined below) under the
caption "...Treasury Constant Maturities...Federal Reserve Board Release
H.15...Mondays Approximately 3:45 P.M.", under the column for the Designated CMT Maturity Index (as defined below) for (i) if the Designated CMT Moneyline Telerate Page is 7051, the rate
on such CMT Rate Interest Determination Date and (ii) if the Designated CMT Moneyline Telerate Page is 7052, the weekly or monthly average, as specified on the face hereof, for the week or the
month, as applicable, ended immediately preceding the week or the month, as applicable, in which the related CMT Rate Interest Determination Date falls. If such rate is no longer displayed on the
relevant page or is not so displayed by 3:00 P.M., New York City time, on the related Calculation Date, then the CMT Rate for such CMT Rate Interest Determination Date will be such treasury
constant maturity rate for the Designated CMT Maturity Index as published in H.15(519). If such rate is no longer published or is not so published by 3:00 P.M., New York City time, on the
related Calculation Date, then the CMT Rate on such CMT Rate Interest Determination Date will be such treasury constant maturity rate for the Designated CMT Maturity Index (or other United States
Treasury rate for the Designated CMT Maturity Index) for the CMT Rate Interest Determination Date with respect to such Interest Reset Date as may then be published by either the Board of Governors of
the Federal 

B-10

 

Reserve System or the United States Department of the Treasury that the Calculation Agent determines to be comparable to the rate formerly displayed on the Designated CMT Moneyline Telerate Page and
published in H.15(519). If such information is not so provided by 3:00 P.M., New York City time, on the related Calculation Date, then the CMT Rate on the CMT Rate Interest Determination Date
will be calculated by the Calculation Agent and will be a yield to maturity, based on the arithmetic mean of the secondary market offered rates as of approximately 3:30 P.M., New York City
time, on such CMT Rate Interest Determination Date reported, according to their written records, by three leading primary United States government securities dealers in The City of New York (which may
include the Agents or their affiliates) (each, a "Reference Dealer") selected by the Calculation Agent (from five such Reference Dealers selected by the Calculation Agent and eliminating the highest
quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest)), for the most recently issued direct noncallable fixed rate
obligations of the United States ("Treasury Notes") with an original maturity of approximately the Designated CMT Maturity Index and a remaining term to maturity of not less than such Designated CMT
Maturity Index minus one year. If the Calculation Agent is unable to obtain three such Treasury Note quotations, the CMT Rate on such CMT Rate Interest Determination Date will be calculated by the
Calculation Agent and will be a yield to maturity based on the arithmetic mean of the secondary market offered rates as of approximately 3:30 P.M., New York City time, on such CMT Rate Interest
Determination Date of three Reference Dealers in The City of New York (from five such Reference Dealers selected by the Calculation Agent and eliminating the highest quotation (or, in the event of
equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest)), for Treasury Notes with an original maturity of the number of years that is the next highest
to the Designated CMT Maturity Index and a remaining term to maturity closest to the Designated CMT Maturity Index and in an amount of at least U.S. $100 million. If three or four (and not
five) of such Reference Dealers are quoting as described above, then the CMT Rate will be based on the arithmetic mean of the offered rates obtained and neither the highest nor the lowest of such
quotes will be eliminated; provided, however, that if fewer than three Reference Dealers selected by the Calculation Agent are quoting as mentioned herein, the CMT Rate determined as of such CMT Rate
Interest Determination Date will be the CMT Rate in effect on such CMT Rate Interest Determination Date. If two Treasury Notes with an original maturity as described in the second preceding sentence
have remaining terms to maturity equally close to the Designated CMT Maturity Index, the Calculation Agent will obtain quotations for the Treasury Note with the shorter remaining term to maturity. 

        "Designated
CMT Moneyline Telerate Page" means the display on Moneyline Telerate (or any successor service) on the page specified on the face hereof (or any other page as may replace
such
page on such service) for the purpose of displaying Treasury Constant Maturities as reported in H.15(519) or, if no such page is specified on the face hereof, page 7052. 

        "Designated
CMT Maturity Index" means the original period to maturity of the U. S. Treasury securities (either 1, 2, 3, 5, 7, 10, 20 or 30 years) specified on the face hereof with
respect to which the CMT Rate will be calculated or if no such maturity is specified on the face hereof, 2 years. 

        Commercial Paper Rate.    If an Interest Rate Basis for this Note is specified on the face hereof as the Commercial Paper Rate,
the Commercial Paper Rate shall be determined as of the applicable Interest Determination Date (a "Commercial Paper Rate Interest Determination Date") as the Money Market Yield (as defined below) on
such date of the rate for commercial paper having the Index Maturity specified on the face hereof as published in H.15(519) under the heading "Commercial Paper-Nonfinancial" or, if not so
published by 3:00 P.M., New York City time, on the related Calculation Date, the Money Market Yield of the rate on such Commercial Paper Rate Interest Determination Date for commercial paper
having the Index Maturity as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, under the caption "Commercial Paper-Nonfinancial."
If such rate is not yet published in H.15(5I9), H.15 Daily Update or 

B-11

 

another recognized electronic source by 3:00 P.M., New York City time, on the related Calculation Date, then the Commercial Paper Rate on such Commercial Paper Rate Interest Determination Date
will be calculated by the Calculation Agent and shall be the Money Market Yield of the arithmetic mean of the offered rates at approximately 11:00 A.M., New York City time, on such Commercial
Paper Rate Interest Determination Date of three leading dealers of United States dollar commercial paper in The City of New York (which may include the Agents or their affiliates) selected by the
Calculation Agent for commercial paper having the Index Maturity specified on the face hereof placed for industrial issuers whose bond rating is "Aa", or the equivalent, from a nationally recognized
statistical rating organization; provided, however, that if the dealers so selected by the Calculation Agent are not quoting as mentioned in this
sentence, the Commercial Paper Rate determined as of such Commercial Paper Rate Interest Determination Date will be the Commercial Paper Rate in effect on such Commercial Paper Rate Interest
Determination Date. 

        "Money
Market Yield" means a yield (expressed as a percentage) calculated in accordance with the following formula: 

	Money Market Yield =	 	D × 360
 360-(DxM)	 	x 100

where
"D" refers to the applicable per annum rate for commercial paper quoted on a bank discount basis and expressed as a decimal, and "M" refers to the actual number of days in the applicable
Interest Reset Period. 

        Eleventh District Cost of Funds Rate.    If an Interest Rate Basis for this Note is specified on the face hereof as the Eleventh
District Cost of Funds Rate, the Eleventh District Cost of Funds Rate shall be determined as of the applicable Interest Determination Date (an "Eleventh District Cost of Funds Rate Interest
Determination Date"), as the rate equal to the monthly weighted average cost of funds for the calendar month immediately preceding the month in which such Eleventh District Cost of Funds Rate Interest
Determination Date falls, as set forth under the caption "11th District" on the display on Moneyline Telerate (or any successor service) on page 7058 (or any other page as may replace such page on
such service) ("Moneyline Telerate Page 7058") as of 11:00 A.M., San Francisco time, on such Eleventh District Cost of Funds Rate Interest Determination Date. If such rate does not appear on
Moneyline Telerate Page 7058 on such Eleventh District Cost of Funds Rate Interest Determination Date, then the Eleventh District Cost of Funds Rate on such Eleventh District Cost of Funds Rate
Interest Determination Date shall be the monthly weighted average cost of funds paid by member institutions of the Eleventh Federal Home Loan Bank District that was most recently announced (the
"Index") by the FHLB of San Francisco as such cost of funds for the calendar month immediately preceding such Eleventh District Cost of Funds Rate Interest Determination Date. If the FHLB of San
Francisco fails to announce the Index on or prior to such Eleventh District Cost of Funds Rate Interest Determination Date for the calendar month immediately preceding such Eleventh District Cost of
Funds Rate Interest Determination Date, the Eleventh District Cost of Funds Rate determined as of such Eleventh District Cost of Funds Rate Interest Determination Date will be the Eleventh District
Cost of Funds Rate in effect on such Eleventh District Cost of Funds Rate Interest Determination Date. 

        Federal Funds Rate.    If an Interest Rate Basis for this Note is specified on the face hereof as the Federal Funds Rate, the
Federal Funds Rate shall be determined as of the applicable Interest Determination Date (a "Federal Funds Rate Interest Determination Date") as the rate on such date for United States dollar federal
funds as published in H.15(519) under the heading "Federal Funds (Effective)", as such rate is displayed on Moneyline Telerate (or any successor service) on page 120 (or any other page as may
replace such page on such service) ("Moneyline Telerate Page 120"), or, if such rate does not appear on Moneyline Telerate Page 120 or is not so published by 3:00 P.M., New York 

B-12

 

City time, on the related Calculation Date, the rate on such Federal Funds Rate Interest Determination Date for United States dollar federal funds as published in H.15 Daily Update, or such other
recognized electronic source used for the purpose of displaying such rate, under the heading "Federal Funds (Effective)." If such rate does not appear on Moneyline Telerate Page 120 or is not yet
published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M., New York City time, on the related Calculation Date, then the Federal Funds Rate on such Federal
Funds Rate Interest Determination Date shall be calculated by the Calculation Agent and will be the arithmetic mean of the rates for the last transaction in overnight United States dollar federal
funds arranged by three leading brokers of United States dollar federal funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent,
prior to 9:00 A.M., New York City time, on such Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so
selected by the Calculation Agent are not quoting as mentioned in this
sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date will be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date. 

        LIBOR.    If an Interest Rate Basis for this Note is specified on the face hereof as LIBOR, LIBOR shall be determined as of the
applicable Interest Determination Date (a "LIBOR Interest Determination Date") in accordance with the following provisions: 

        (i)(a)    if
"LIBOR Reuters" is specified on the face hereof, the arithmetic mean of the offered rates (unless the Designated LIBOR Page by its terms provides only for a single
rate, in which case such single rate will be used) for deposits in the Designated LIBOR Currency having the Index Maturity specified on the face hereof, commencing on the applicable Interest Reset
Date, that appear (or, if only a single rate is required as aforesaid, appears) on the Designated LIBOR Page as of 11:00 A.M., London time, on such LIBOR Interest Determination Date, or
(b) if "LIBOR Telerate" is specified on the face hereof or if neither "LIBOR Reuters" nor "LIBOR Telerate" is specified on the face hereof as the method for calculating LIBOR, the rate for
deposits in the Designated LIBOR Currency having the Index Maturity specified on the face hereof, commencing on such Interest Reset Date, that appears on the Designated LIBOR Page as of
11:00 A.M., London time, on such LIBOR Interest Determination Date. If fewer than two such offered rates so appear, or if no such rate so appears, as applicable, LIBOR on such LIBOR Interest
Determination Date shall be determined in accordance with the provisions described in clause (ii) below. 

        (ii)    With
respect to a LIBOR Interest Determination Date on which fewer than two offered rates appear, or no rate appears, as the case may be, on the Designated LIBOR Page
as specified in clause (i) above, the Calculation Agent shall request the principal London offices of each of four major reference banks (which may include affiliates of the Agents) in the
London interbank market, as selected by the Calculation Agent, to provide the Calculation Agent with its offered quotation for deposits in the Designated LIBOR Currency for the period of the Index
Maturity, commencing on the applicable Interest Reset Date, to prime banks in the London interbank market at approximately 11:00 A.M., London time, on such LIBOR Interest Determination Date and
in a principal amount that is representative for a single transaction in the Designated LIBOR Currency in such market at such time. If at least two such quotations are so provided, then LIBOR on such
LIBOR Interest Determination Date will be the arithmetic mean of such quotations. If fewer than two such quotations are so provided, then LIBOR on such LIBOR Interest Determination Date will be the
arithmetic mean of the rates quoted at approximately 11:00 A.M., in the applicable Principal Financial Center, on such LIBOR Interest Determination Date by three major banks (which may include
affiliates of the Agents) in such Principal Financial Center selected by the Calculation Agent for loans in the Designated LIBOR Currency to leading European banks, having the Index Maturity specified
on the face hereof and in a principal amount 

B-13

 

that is representative for a single transaction in the Designated LIBOR Currency in such market at such time; provided, however, that if the banks so
selected by the Calculation Agent are not quoting as mentioned in this sentence, LIBOR determined as of such LIBOR Interest Determination Date shall be LIBOR in effect on such LIBOR Interest
Determination Date. 

        "Designated
LIBOR Currency" means the currency specified on the face hereof as to which LIBOR shall be calculated or, if no such currency is specified on the face hereof, United States
dollars. 

        "Designated
LIBOR Page" means (a) if "LIBOR Reuters" is specified on the face hereof the display on the Reuter Monitor Money Rates Service (or any successor service) on the page
specified on the face hereof (or any other page as may replace such page on such service) for the purpose of displaying the London interbank rates of major banks for the Designated LIBOR Currency, or
(b) if "LIBOR Telerate" is specified on the face hereof or neither "LIBOR Reuters" nor "LIBOR Telerate" is specified on the face hereof as the method for calculating LIBOR, the display on
Moneyline Telerate (or any successor service) on the page specified on the face hereof (or any other page as may replace such page on such service) for the purpose of displaying the London interbank
rates of major banks for the Designated LIBOR Currency. 

B-14

           Prime Rate.    If an Interest Rate Basis for this Note is specified on the face hereto as the Prime Rate,
 the Prime Rate shall
be determined as of the applicable Interest Determination Date (a "Prime Rate Interest Determination Date") as the rate on such date as such rate is published in H.15(519) under the caption
"Bank Prime Loan", or if not published by 3:00 P.M., New York City time, on the related Calculation Date, the rate on such Prime Rate Interest Determination Date as published in H.15 Daily
Update, or such other recognized electronic source used for the purpose of displaying such rate, under the caption "Bank Prime Loan." If such rate is not yet published in H.15(519), H.15 Daily Update
or another recognized electronic source by 3:00 P.M., New York City time, on the related Calculation Date, the Prime Rate shall be the arithmetic mean of the rates of interest publicly
announced by at least four banks that appear on the Reuters Screen US PRIME 1 Page (as defined below) as such bank's prime rate or base lending rate as of 11:00 A.M., New York City time, on
such Prime Rate Interest Determination. If fewer than four such rates so appear on the Reuters Screen US PRIME 1 Page for such Prime Rate Interest Determination Date, the Prime Rate shall be the
arithmetic mean of the prime rates or base lending rates quoted on the basis of the actual number of days in the year divided by a 360-day year as of the close of business on such Prime
Rate Interest Determination Date by three major banks (which may include affiliates of the Agents) in The City of New York; provided, however, that if
the banks so selected by the Calculation Agent are not quoting as mentioned in this sentence, the Prime Rate determined as of such Prime Rate Interest Determination Date will be the Prime Rate in
effect on such Prime Rate Interest Determination Date. 

        "Reuters
Screen US PRIME 1 Page" means the display on the Reuters Monitor Money Rates Service (or any successor service) on the "US PRIME 1" page (or such other page as may replace the
US PRIME 1 page on such service) for the purpose of displaying prime rates or base lending rates of major United States banks. 

        Treasury Rate.    If an Interest Rate Basis for this Note is specified on the face hereof as the Treasury Rate, the Treasury
Rate shall be determined as of the applicable Interest Determination Date (a "Treasury Rate Interest Determination Date"), as the rate from the auction held on such Treasury Rate Interest
Determination Date (the "Auction") of direct obligations of the United States ("Treasury Bills") having the Index Maturity specified above under the caption "INVESTMENT RATE" on the display on Bridge
Telerate, Inc. (or any successor service) on page 56 (or any other page as may replace such page on such service) ("Telerate Page 56") or page 57 (or any other page as may replace such page on
such service) ("Telerate Page 57") or, if not so published by 3:00 P.M., New York City time, on the related Calculation Date, the Bond Equivalent Yield (as hereinafter defined) of the rate for
such Treasury Bills as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, under the caption "U.S. Government Securities/Treasury
Bills/Auction High" or, if not so published by 3:00 P.M., New York City time, on the related Calculation Date, the Bond Equivalent Yield of the auction rate of such Treasury Bills as announced
by the United States Department of the Treasury. In the event that the auction rate of Treasury Bills having the Index Maturity specified above is not so announced by the United States Department of
the Treasury, or if no such auction is held, then the Treasury Rate will be the Bond Equivalent Yield of the rate on such
Treasury Rate Interest Determination Date of Treasury Bills having the Index Maturity specified above as published in H.15(519) under the caption "U.S. Government Securities/Treasury
Bills/Secondary Market" or, if not yet published by 3:00 P.M., New York City time, on the related Calculation Date, the rate on such Treasury Rate Interest Determination Date of such Treasury
Bills as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, under the caption "U.S. Government Securities/Treasury Bills/Secondary
Market." If such rate is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source, then the Treasury Rate will be calculated by the Calculation Agent and will be the
Bond Equivalent Yield of the arithmetic mean of the secondary market bid rates, as of approximately 3:30 P.M., New York City time, on such Treasury Rate Interest Determination Date, of three
primary United States government securities dealers (which may include the Agents or their affiliates) selected 

B-15

 

by the Calculation Agent, for the issue of Treasury Bills with a remaining maturity closest to the Index Maturity specified on the face hereof; provided,
however, that if the dealers so selected by the Calculation Agent are not quoting as mentioned in this sentence, the Treasury Rate determined as of such Treasury Rate Interest
Determination Date will be the Treasury Rate in effect on such Treasury Rate Interest Determination Date. 

        "Bond
Equivalent Yield" means a yield (expressed as a percentage) calculated in accordance with the following formula: 

	Bond Equivalent Yield =	 	D × N 
 360-(D × M)	 	× 100

where
"D" refers to the applicable per annum rate for Treasury Bills quoted on a bank discount basis, "N" refers 365 or 366, as the case may be, and "M" refers to the actual number of days in the
applicable Interest Reset Period. 

        Index Notes.    If an Interest Rate Basis for this Note is specified on the face hereof as Other, or an Index Rate, that
Interest Rate Basis shall be determined in accordance with an addendum hereto. 

        Notwithstanding
the foregoing, the interest rate hereon shall not be greater than the Maximum Interest Rate, if any, or less than the Minimum Interest Rate, if any, in each case as
specified on the face
hereof. The interest rate on this Note will in no event be higher than the maximum rate permitted by New York law, as the same may be modified by United States law of general application. 

        The
"Calculation Date", if applicable, pertaining to any Interest Determination Date shall be the earlier of (i) the tenth calendar day after such Interest Determination Date or,
if such day is not a Business Day, the next succeeding Business Day or (ii) the Business Day immediately preceding the applicable Interest Payment Date or the Maturity, as the case may be. At
the request of the Holder hereof or, if this Note is in book-entry form, the beneficial owner hereof, the Trustee will provide to such Holder or beneficial owner, as the case may be, the
interest rate hereon then in effect and, if determined, the interest rate that will become effective as a result of a determination made for the next succeeding Interest Reset Date. 

        Accrued
interest hereon shall be an amount calculated by multiplying the principal amount hereof by an accrued interest factor. Such accrued interest factor shall be computed by adding
the interest factor calculated for each day in the applicable Interest Period. Unless otherwise specified as the Day Count Convention on the face hereof, the interest factor for each such day shall be
computed by dividing the interest rate applicable to such day by 360 if the CD Rate, the Commercial Paper Rate, the Eleventh District Cost of Funds Rate, the Federal Funds Rate, LIBOR or the Prime
Rate is an applicable Interest Rate Basis or by the actual number of days in the year if the CMT Rate or the Treasury Rate is an applicable Interest Rate Basis. Unless otherwise specified as the Day
Count Convention on the face hereof, the interest factor for this Note, if the interest rate hereon is calculated with reference to two or more Interest Rate Bases, shall be calculated in each period
in the same manner as if only the applicable Interest Rate Basis specified on the face hereof applied. 

        All
percentages resulting from any calculation on this Note (other than percentages used in the calculation of the accrued interest factor and accrued interest) shall be rounded to the
nearest one hundred-thousandth of a percentage point, with five one-millionths of a percentage point rounded upwards, and all amounts used in or resulting from such calculation on this
Note shall be rounded, in the case of United States dollars, to the nearest cent or, in the case of a Specified Currency other than United States dollars, to the nearest unit. For purposes of
rounding, .005 shall be rounded upwards. 

B-16

 

Subsequent Interest Periods  

        If so specified on the face hereof or in an addendum hereto, the Interest Rate, Spread, Spread Multiplier or method of calculation, as the case may be, on this
Note may be reset by the Company on the date or dates specified on the face hereof or in an addendum hereto or delivered herewith (each an "Optional Reset Date"). Not later than 40 days prior
to each Optional Reset Date, the Trustee will mail to the Holder of this Note a notice (the "Reset Notice"), first class, postage prepaid, indicating whether the Company has elected to reset
the Interest Rate, Spread, Spread Multiplier or method of calculation, as the case may be, and if so, (i) such new Interest Rate, Spread, Spread Multiplier or
method of calculation, and (ii) the provisions, if any, for redemption during the period from such Optional Reset Date to the next Optional Reset Date, or, if there is no such next Optional
Reset Date, to the Stated Maturity of this Note (each such period, a "Subsequent Interest Period"), including the date or dates on which or the period or periods during which and the price or prices
at which such redemption may occur during the Subsequent Interest Period. Upon the transmittal by the Trustee of a Reset Notice to the holder of a Note, such new Interest Rate, Spread, Spread
Multiplier or method of calculation, as the case may be, shall take effect automatically. Except as modified by the Reset Notice and as described below, such Note will have the same terms as prior to
the transmittal of such Reset Notice. Notwithstanding the foregoing, not later than 20 days prior to an Optional Reset Date, the Company may, at its option, revoke the Interest Rate, Spread or
Spread Multiplier provided for in the Reset Notice and establish a higher Interest Rate, Spread or Spread Multiplier for the Subsequent Interest Period by causing the Trustee to mail notice of such
higher Interest Rate, Spread or Spread Multiplier to the Holder of this Note. Such notice shall be irrevocable. All Notes with respect to which the Interest Rate, Spread or Spread Multiplier is reset
on an Optional Reset Date will bear such higher Interest Rate, Spread or Spread Multiplier whether or not tendered for repayment. 

        The
Holder of this Note will have the option to elect repayment by the Company on each Optional Reset Date at a price equal to the principal amount hereof, plus interest accrued to such
Optional Reset Date. In order to obtain repayment on an Optional Reset Date, the Holder must follow the procedures set forth below for optional repayment, except that the period for delivery or
notification to the Trustee shall be at least 25 but not more than 35 days prior to such Optional Reset Date, and except that if the Holder has tendered this Note for repayment pursuant to a
Reset Notice, the Holder may, by written notice to the Trustee, revoke such tender for repayment until the close of business on the tenth day before the Optional Reset Date. 

Indexed Principal Notes  

        If this Note is an Indexed Principal Note, then the principal amount payable at Stated Maturity or earlier redemption or retirement is determined by reference to
the amount designated on the face hereof or in an addendum hereto as the face amount of this Note and by reference to the Index as described on the face hereof or in an addendum hereto. If this Note
is an Indexed Principal Note, the principal amount payable at Stated Maturity or any earlier redemption or repayment of this Note may be different from the face amount. 

        If
a third party is appointed to calculate or announce the Index for a particular Indexed Principal Note and this third party either suspends the calculation or announcement of such
Index or changes the basis upon which such Index is calculated, in a manner that is inconsistent with the applicable pricing supplement, then the Company will select another third party to calculate
or announce the Index. The agents or their respective affiliates may be either the original or successor third party selected by the Company. 

        If
for any reason such Index cannot be calculated on the same basis and subject to the same conditions and controls as applied to the original third party, then the indexed principal
amount of such Indexed Principal Note will be calculated in the manner set forth in the applicable pricing 

B-17

 

supplement. Any determination by the selected third party will be binding on all parties, except in the case of an obvious error. 

Specified Currency  

        If the Specified Currency is other than U.S. dollars, the amount of any U.S. dollar payment to be made in respect hereof will be determined by the Company or its
agent based on the highest firm bid quotation expressed in U.S. dollars received by the Company or its agent at approximately 11:00 a.m., New York City time, on the second Business Day
preceding the applicable payment date (or, if no such rate is quoted on such date, the last date on which such rate was quoted) from three (or, if three are not available, then two) recognized foreign
exchange dealers in The City of New York selected by the Exchange Rate Agent (one or more of which may be an agent involved in the distribution of the Notes (an "Agent") and another of which may be
the Exchange Rate Agent) for the purchase by the quoting dealer, for settlement on such payment date, of the aggregate amount of the Specified Currency payable on such payment date in respect of all
Notes denominated in such Specified Currency. All currency exchange costs will be borne by the Holders of such Notes by deductions from such payments. If no such bid quotations are available, then
such payments will be made in the Specified Currency, unless the Specified Currency is unavailable due to the imposition of exchange controls or to other circumstances beyond the Company's control, in
which case payment will be made as described in the next paragraph. 

Payments in Currencies Other than the Specified Currency  

        Except as set forth below, if any payment in respect hereof is required to be made in a Specified Currency other than U.S. dollars and such currency is
(i) unavailable due to the imposition of exchange controls or other circumstances beyond the Company's control, (ii) is no longer used by the government of the country issuing such
currency or (iii) is no longer used for the settlement of transactions by public institutions of or within the international banking community, then such payment shall be made in U.S. dollars
until such currency is again available or so used. The amount so payable on any date in such foreign currency shall be converted into U.S. dollars on the basis of the noon buying rate in New York City
for cable transfers, in the Specified Currency, as certified for customs purposes by the Federal Reserve Bank of New York (the "Market Exchange Rate") as of the second Business Day preceding that day,
or if such Market Exchange Rate is unavailable, the most recently available Market Exchange Rate for such currency, or as otherwise indicated on the face hereof or in the pricing supplement attached
hereto or delivered herewith. Any payment made under such circumstances in U.S. dollars will not constitute an Event of Default under the Indenture. 

        In
the event of an official redenomination of the Specified Currency of this Note (other than as a result of the European Monetary Union, but including, without limitation, an official
redenomination of any such Specified Currency that is a composite currency), the obligations of the Company with respect to payments on this Note shall, in all cases, be deemed immediately following
such redenomination to
provide for the payment of that amount of redenominated currency representing the amount of such obligations immediately before such redenomination. This Note does not provide for any adjustment to
any amount payable under this Note as a result of (i) any change in the value of the Specified Currency hereof relative to any other currency due solely to fluctuations in exchange rates or
(ii) any redenomination of any component currency of any composite currency (unless such composite currency is itself officially redenominated). 

Dual Currency Notes  

        If this Note is specified on the face hereof or in an addendum hereto as a Dual Currency Note, the Company may have a one time option, exercisable on one or more
dates (each an "Option Election Date"), with respect to all Dual Currency Notes issued on the same day and having the same terms (a 

B-18

 

"Tranche"), of thereafter making all payments of principal, premium, if any, and interest (which payments would otherwise be made in the Specified Currency of such Notes) in an optional currency (the
"Optional Payment Currency"). Such option will be exercisable in whole but not in part on an Option Election Date, which will be any one of the dates specified on the face hereof or in an addendum
hereto. 

        If
the Company makes such an election, the amount payable in the Optional Payment Currency shall be determined using the Designated Exchange Rate specified on the face hereof or in an
addendum hereto or delivered herewith. If such election is made, notice of such election shall be mailed in accordance with the terms of the applicable Tranche of Dual Currency Notes within two
Business Days of the Option Election Date and shall state (i) the first date, whether an Interest Payment Date and/or Stated Maturity, on which scheduled payments in the Optional Payment
Currency will be made and (ii) the Designated Exchange Rate. Any such notice by the Company, once given, may not be withdrawn. The equivalent value in the Specified Currency of payments made
after such an election may be less, at the then current exchange rate, than if the Company had made such payment in the Specified Currency. 

Renewable Notes  

        If this Note is specified on the face hereof or in an addendum hereto as a Renewable Note, this Note will mature on an Interest Payment Date occurring in or prior
to the twelfth month following the Original Issue Date of this Note (the "Initial Stated Maturity") unless the term of all or any portion of this Note is renewed in accordance with the following
procedures. 

        On
the Interest Payment Date occurring in the sixth month (unless a different interval (the "Special Election Interval") is specified on the face hereof or in the pricing supplement
attached hereto or delivered herewith) prior to the Initial Stated Maturity of this Note (the "Initial Renewal Date") and
on the Interest Payment Date occurring in each sixth month (or in the last month of each Special Election Interval) after such Initial Renewal Date (each, together with the Initial Renewal Date, a
"Renewal Date"), the term of this Note may be extended to the Interest Payment Date occurring in the twelfth month (or, if a Special Election Interval is specified on the face hereof or in the pricing
supplement attached hereto or delivered herewith, the last month in a period equal to twice the Special Election Interval) after such Renewal Date, if the Holder of this Note elects to extend the term
of this Note or any portion thereof as described below. If the Holder does not elect to extend the term of any portion of the principal amount of this Note during the specified period prior to any
Renewal Date, such portion will become due and payable on the Interest Payment Date occurring in the sixth month (or the last month in the Special Election Interval) after such Renewal Date (the "New
Maturity Date"). 

        The
Holder may elect to renew the term of this Note, or if so specified, any portion thereof, by delivering a notice to such effect to the Trustee (or any duly appointed paying agent) at
the corporate trust office of the Trustee or agency of the Trustee in the City of New York not less than 15 nor more than 30 days prior to such Renewal Date. Such election will be irrevocable
and will be binding upon each subsequent Holder of this Note. An election to renew the term of this Note may be exercised with respect to less than the entire principal amount of this Note only if so
specified on the face hereof or in an addendum hereto and then only in such principal amount, or any integral multiple in excess of such amount, as is specified on the face hereof or in the pricing
supplement attached hereto or delivered herewith. Notwithstanding the foregoing, the term of this Note may not be extended beyond the Stated Maturity specified for this Note on the face hereof or in
an addendum hereto. 

        If
the Holder does not elect to renew the term, this Note must be presented to the Trustee (or any duly appointed paying agent) and, as soon as practicable following receipt of such Note
the Trustee (or any duly appointed paying agent) shall issue in exchange therefor in the name of such Holder (i) a 

B-19

 

Note, in a principal amount equal to the principal amount of such exchanged Note for which no election to renew the term thereof was exercised, with terms identical to those specified on such
exchanged Note (except that such Note shall have a fixed, nonrenewable Stated Maturity on the New Maturity Date) and (ii) if an election to renew is made with respect to less than the full
principal amount of such Holder's Note, the Trustee, or any duly appointed paying agent, shall issue in exchange for such Note in the name of such Holder, a replacement Renewable Note, in a principal
amount equal to the principal amount of such exchanged Note for which the election to renew was made, with terms otherwise identical to the exchanged Note. 

Extension of Maturity  

        If so specified on the face hereof or in an addendum hereto, the Maturity of this Note may be extended at the option of the Company for one or more periods of
whole years specified on the face hereof or in the pricing supplement attached hereto or delivered herewith (each an "Extension Period") from one to five, up to but not beyond the date (the "Final
Maturity") set forth on the face hereof or in an addendum hereto. The Company may exercise such option by notifying the Trustee for this Note at least 45 but not more than 60 days prior to the
old Stated Maturity of this Note. If the
Company exercises such option, the Trustee will mail to the Holder of this Note not later than 40 days prior to the old Stated Maturity a notice (the "Extension Notice") first class, postage
prepaid indicating (i) the election of the Company to extend the Stated Maturity, (ii) the new Stated Maturity, (iii) the Interest Rate applicable to the Extension Period and
(iv) the provisions, if any, for redemption during such Extension Period including the date or dates on which, or the period or periods during which, and the price or prices at which such
redemption may occur during the extension period. 

        Upon
the Trustee's mailing of the Extension Notice, the Stated Maturity of this Note shall be extended automatically and, except as modified by the Extension Notice and as described in
the next paragraph, this Note will have the same terms as prior to the mailing of such Extension Notice. Notwithstanding the foregoing, not later than 20 days prior to the old Stated Maturity
of this Note, the Company may, at its option, revoke the Interest Rate provided for in the Extension Notice and establish a higher Interest Rate for the Extension Period by causing the Trustee to mail
notice of such higher Interest Rate, first class, postage prepaid to the Holder of this Note. Such notice shall be irrevocable. All Notes with respect to which the Stated Maturity is extended will
bear such higher Interest Rate for the extension period, whether or not tendered for repayment. 

        If
the Company extends the Stated Maturity of this Note, the Holder will have the option to elect repayment of this Note by the Company on the old Stated Maturity at a price equal to the
principal amount hereof, plus interest accrued to such date. In order to obtain repayment on such old Stated Maturity once the Company has extended the Stated Maturity hereof, the Holder must follow
the procedures set forth below for optional repayment, except that the period for delivery of this Note or notification to the Trustee shall be at least 25 but not more than 35 days before the
old Stated Maturity, and except that if the Holder has tendered this Note for repayment pursuant to an Extension Notice, the Holder may, by written notice to the Trustee, revoke such tender for
repayment until the close of business on the tenth day before the old Stated Maturity. 

Optional Redemption, Repayment and Repurchase  

        This Note will be subject to redemption at the option of the Company on any date on or after the first Optional Redemption Date, if any, specified on the face
hereof, in whole or from time to time in part in increments of U.S.$1,000 (if the Specified Currency is U.S. dollars) or such other increment specified on the face hereof under Authorized Denomination
(if the Specified Currency is not U.S. dollars) (provided that any remaining principal amount hereof shall be an Authorized Denomination and at least the minimum Authorized Denomination hereof) at the
Redemption Price (as defined below), together with unpaid interest accrued thereon to the date fixed for redemption (the 

B-20

 

"Redemption Date"), on written notice given to the Holder hereof (in accordance with the provisions of the Indenture) not more than 60 nor less than 30 calendar days prior to the Redemption Date. The
"Redemption Price" shall be the Initial Redemption Percentage specified on the face hereof (as adjusted by the Annual Redemption Percentage Reduction, if any, specified on the face hereof as set forth
below) multiplied by the unpaid principal amount of this Note to be redeemed. The Initial Redemption Percentage, if any, shall decline at each anniversary of the Initial Redemption Date by the Annual
Redemption Percentage Reduction, if any, until the Redemption Price is equal to 100% of the
unpaid principal amount to be redeemed. Whenever less than all of the Notes of like tenor and terms are to be redeemed, the Notes to be redeemed and the Holders thereof shall be selected by the
Trustee by such method as the Trustee shall deem fair and reasonable. In the event of redemption of this Note in part only, a new Note of like tenor and otherwise having the same terms as this Note
for the unredeemed portion hereof shall be issued by the Company in the name of the Holder hereof, without charge, upon the presentation and surrender hereof. 

        This
Note will be subject to repayment by the Company at the option of the Holder hereof on the Optional Repayment Date(s), if any, specified on the face hereof, in whole or from time to
time in part in increments of U.S.$l,000 (if the Specified Currency is U.S. dollars) or such other increment specified on the face hereof under Authorized Denomination (if the Specified Currency is
not U.S. dollars) (provided that any remaining principal amount hereof shall be an Authorized Denomination and at least the minimum Authorized Denomination hereof) at a repayment price equal to 100%
of the unpaid principal amount to be repaid, together with unpaid interest accrued thereon to the date fixed for repayment (the "Repayment Date"). For this Note to be repaid, the Trustee must receive
at its office, currently located at 101 Barclay Street, 21 West, New York, New York, not more than 60 nor less than 30 calendar days prior to the Repayment Date, (i) in the case of a
certificated note, such certificated note and the form thereon entitled "Option to Elect Repayment" duly completed or (ii) in the case of a book-entry note, instructions to such
effect from the applicable Beneficial Owner to the Depositary and forwarded by the Depositary. Exercise of such repayment option by the Holder hereof will be irrevocable. In the event of repayment of
this Note in part only, a new Note of like tenor and terms for the unrepaid portion hereof and otherwise having the same terms as this Note shall be issued by the Company in the name of the Holder
hereof without charge, upon the presentation and surrender hereof. 

        If
this Note is specified on the face hereof to be a Discount Note, the amount payable to the Holder of this Note in the event of redemption, repayment or acceleration of maturity of
this Note will be equal to the sum of (1) the Issue Price specified on the face hereof plus any accruals of the Discount, as defined below, and, in the event of any redemption of this Note (if
applicable), multiplied by the Initial Redemption Percentage (as adjusted by the Annual Redemption Percentage Reduction, if applicable) and (2) any unpaid interest accrued thereon to the
Redemption Date, Repayment Date or date of acceleration of maturity, as the case may be. The difference between the Issue Price and 100% of the principal amount of this Note is referred to herein as
the "Discount." 

        For
purposes of determining the amount of Discount that has accrued as of any Redemption Date, Repayment Date or date of acceleration of maturity of this Note, such Discount will be
accrued so as to cause the yield on this Note to be constant. The constant yield will be calculated using a 30-day month, 360-day year convention, a compounding period that,
except for the Initial Period (as defined below), corresponds to the shortest period between Interest Payment Dates (with ratable accruals within a compounding period) and an assumption that the
maturity of this Note will not be accelerated. If the period from the Original Issue Date to the initial Interest Payment Date (the "Initial Period") is shorter than the compounding period for this
Note, a proportionate amount of the yield for an entire compounding period will be accrued. If the Initial Period is longer than the compounding period, then such period will be divided into a regular
compounding period and a short period, with the short 

B-21

 

period being treated as provided in the preceding sentence. The Company shall be responsible for determining, directly or through an agent, the amount of any accrued Discount on this Note. 

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

Events of Default  

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

Amendment of Indenture  

        The Indenture permits, in certain circumstances therein specified, the amendment thereof without the consent of the Holders of the Notes. 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 the Holders of not less than a majority in principal amount of the
Outstanding Securities of each series to be affected. The Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of the Outstanding Securities of each
series, on behalf of the Holders of all the 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 or, 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. 

Defeasance  

        The Indenture permits the Company, by irrevocably depositing, 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, cash or U.S. Government Obligations with the Trustee in trust solely for the benefit of the Holders of all Outstanding Notes, to defease the Indenture with
respect to such Notes, and upon such deposit the Company shall be deemed to have paid and discharged its entire indebtedness on such Notes. Thereafter, Holders would be able to look only to such trust
fund for payment of principal and interest at the Stated Maturity or Redemption Date, as the case may be. 

Transfer of 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 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 hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of like tenor, of authorized 

B-22

 

denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

        Transfers
of ownership interests in a Global Note representing Notes in book-entry form are to be accomplished by entries made on the books of participants of the depositary
acting on behalf of beneficial owners. 

        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, 906 or 1107 of the Indenture not involving any transfer or as
provided in the Indenture). 

        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. 

Governing Law  

        The Indenture and the Notes shall be governed by and construed in accordance with the laws of the State of New York including, without limitation,
Section 5-1401 of the New York General Obligations Law. 

        All
undefined terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture. If "OTHER" is specified under "INTEREST RATE BASIS OR
BASES" above, references herein to "this Note," "hereof," "herein," and comparable terms shall include the addendum hereto that specifies the applicable Interest Rate Basis or Bases. 

B-23

 

        IN
WITNESS WHEREOF, Occidental Petroleum Corporation has caused this Instrument to be signed by the signature or facsimile signature of its Chairman of the Board, President, a Vice
President, its Treasurer or an Assistant Treasurer and attested by its Secretary or an Assistant Secretary by his or her signature or a facsimile thereof, and its corporate seal or a facsimile of its
corporate seal to be affixed hereunto or imprinted hereon. 

	(SEAL)	 	OCCIDENTAL PETROLEUM CORPORATION
	 	 	 	 	 
	 	 	 	 	 
	

 	
 	

By:	
 	

 Title:

Attest:

	
	 

B-24

  

 
 

ABBREVIATIONS    
  

        The
following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable laws or
regulations: 

	TEN COM	 	—	 	as tenants in common	 	UNIF GIFT MIN ACT	 	.....................  Custodian	 	.....................
	 	 	 	 	 	 	 	 	(Cust.)                	 	(Minor)
	TEN ENT	 	—	 	as tenants by the entireties	 	 	 	Under Uniform Gifts to Minor Act
	JT TEN	 	—	 	as joint tenants with right of	 	 	 	 	 	 
	 	 	 	 	survivorship and not as tenants	 	 	 	............................................................
	 	 	 	 	in common	 	 	 	      (State)

Additional abbreviations may also be used though not in the above list. 

FOR
VALUE RECEIVED, the undersigned hereby sells(s), assign(s) and transfer(s) unto 

	 	 	Please Insert Social Security or Employer	 	 
	 	 	Identification Number of Assignee	 	 
	

	
	 	 	 	

	
	 	 	 	

	
	 	 	 	

	
	 	 	 	

	

Please Print or Typewrite Name and Address

Including Postal Zip Code of Assignee 

the
within Security and all rights thereunder, hereby irrevocably constituting and appointing                        attorney to
transfer said Security on the books of the Company, with full power of
substitution in the premises. 

	Dated:	 	 	 
	 	
	 	
 Signature

NOTICE:
The signature to this assignment must correspond with the name as it appears upon the face of the within Note in every particular, without alteration or enlargement or any change whatever. 

B-25

 
OPTION TO ELECT REPAYMENT  

        The undersigned hereby irrevocably request(s) and instruct(s) the Company to repay this Note (or portion hereof specified below) pursuant to its terms at a price
equal to 100% of the principal amount to be repaid, together with unpaid interest accrued hereon to, but not including, the Repayment Date, to the undersigned, at: 

(Please print or typewrite name and address of the undersigned) 

        For
this Note to be repaid, the Trustee must receive at its office in the Borough of Manhattan, The City of New York, currently located at 101 Barclay Street, 21 West, not more than 60
nor less than 30 calendar days prior to the Repayment Date, this Note with this "Option to Elect Repayment" form duly completed. 

        If
less than the entire principal amount of this Note is to be repaid, specify the portion hereof (which shall be increments of U.S.$ 1,000 or other Authorized Denomination specified on
the face hereof (provided that any remaining principal amount shall be at least U.S.$100,000 or the minimum Authorized Denomination)) which the Holder elects to have repaid and specify the
denomination or denominations (which shall be U.S.$100,000 or the minimum Authorized Denomination) of the Notes to be issued to the Holder for the portion of this Note not being repaid (in the absence
of any such specification, one such Note will be issued for the portion not being repaid). 

Principal
amount to be repaid $ 

Option
to Elect Repayment Date: 

Notice:    The
signature(s) on this must correspond with the name(s) as written upon the face of this Note in every particular, without alteration or enlargement or any change whatsoever. 

	Dated:	 	 	 
	 	
	 	
 Signature

B-26

  

 
 

Exhibit C    
  

[Form
of Global Discount Registered Security—United States] 

	 
	 	 
	 	 

	REGISTERED	 	 	 	REGISTERED
	

OCCIDENTAL PETROLEUM CORPORATION
	

NO. FXR-	
 	

MEDIUM-TERM [SENIOR] [SUBORDINATED]

NOTE, SERIES [C] [A]

(Discount)	
 	

PRINCIPAL AMOUNT:

U.S.$

CUSIP:

        Unless and until it is exchanged in whole or in part for Notes in definitive form, this Note may not be transferred except as a whole by the Depositary to a
nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of
such successor Depositary. Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation ("DTC"), to the issuer or its agent for
registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or to such other entity 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.

        Pursuant to Proposed Treasury Regulation Section 1.1275-3, (a) the amount of the original issue discount on this security is as
specified below, (b) the original issue date is as specified below, (c) the yield to maturity; computed under the approximate method, is as specified below, and (d) the amount of
the original issue discount allocable to the short accrual period occurring
between                                        
        and                                  
              is
$                            .
 

	 
	 	 

	Issue Price:	 	Original Issue Date:
	

Interest Rate:	
 	

Stated Maturity:

Original
Issue Discount: 

Specified
Currency (If other than U.S. dollars): 

Authorized
Denominations:

                (If other than as set forth in the Prospectus Supplement) 

Exchange
Rate Agent: 

	 
	 	 
	 	 

	

Dual Currency Note:	
 	

o Yes (see addendum)	
 	

o No
	 	

Optional Payment Currency:	
 	

 	
 	

 
	 	Designated Exchange Rate:	 	 	 	 
	

Indexed Principal Note:	
 	

o Yes (see addendum)	
 	

o No

	 
	 	 

	

Interest Rate Reset:	
 	

o The Interest Rate may not be changed prior to Stated Maturity.
	

 	
 	

o The Interest Rate may be changed prior to Stated Maturity (see addendum).

C-1

 

	 
	 	 
	 	 

	

Optional Reset Dates (if applicable):	
 	

 	
 	

 
	

Amortizing Note:	
 	

o Yes	
 	

o No
	 	

Amortization Schedule:	
 	

 	
 	

 
	

Optional Redemption:	
 	

o Yes	
 	

o No
	 	

Optional Redemption Date(s):	
 	

 	
 	

 
	 	

Initial Redemption Percentage:      %	
 	

 	
 	

 
	 	

Annual Redemption Percentage Reduction:      %	
 	

 	
 	

 
	

Optional Repayment:	
 	

o Yes	
 	

o No
	 	

Optional Repayment Date(s):	
 	

 	
 	

 
	

Discount Note:	
 	

o Yes	
 	

o No
	 	

Issue Price:	
 	

      %	
 	

 
	 	

Yield to Maturity:	
 	

 	
 	

 
	

Optional Extension of Stated Maturity:	
 	

o Yes	
 	

o No
	 	

Final Maturity:	
 	

 	
 	

 
	

Renewable Note:	
 	

o Yes (see addendum)	
 	

o No
	

Addendum Attached:	
 	

o Yes	
 	

o No

        Dated:
________________________ 

TRUSTEE'S CERTIFICATE OF AUTHENTICATION  

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

THE
BANK OF NEW YORK, as Trustee 

	

By:	
 	

 Authorized Signatory	
 	

 

C-2

   
        OCCIDENTAL PETROLEUM CORPORATION, a corporation duly organized and existing under the laws of the State of Delaware (herein referred to as the "Company"), for value received, hereby
promises to pay to CEDE & CO., or registered assigns, the face amount hereof, or, in the case of an Indexed Principal Note, the face amount hereof, adjusted by reference to prices, changes in
prices, or differences between prices, of securities, currencies, intangibles, goods, articles or commodities or by such other objective price, economic or other measures (an "Index") as described on
the face hereof or in the pricing supplement attached hereto or delivered herewith (the "principal" or "principal amount"), in the Specified Currency specified above on the Stated Maturity specified
above (unless and to the extent earlier redeemed or repaid prior to such Stated Maturity) and to pay interest on the principal amount then outstanding at the Interest Rate shown above from the
Original Issue Date specified above or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears
on                        and
                        , in each year, commencing with the first Interest Payment Date next succeeding the Original Issue Date,
at the rate per annum set forth above, until the principal amount hereof is paid
or made available for payment; provided, however, that if the Original Issue Date of this Note is between a Regular Record Date (as defined below) and
the related Interest Payment Date, the first payment of interest on this Note will be made on the Interest Payment Date immediately following the next succeeding Regular Record Date to the registered
Holder on such next succeeding Regular Record Date. 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 (as defined below), 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 fifteenth calendar day (whether or not a Business Day), (the "Regular Record Date") as the case may be, next preceding such Interest Payment Date;  provided, however, that interest payable at the Stated Maturity or earlier redemption or repayment of this Note (the "Maturity") shall be payable to the
Person to whom principal shall be payable. 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 at Maturity will be made on the following day that is a Business Day as if it were made on the date such payment was due 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. Except as otherwise provided in the Indenture, any interest not punctually paid or duly provided for on any Interest Payment Date
other than at Maturity (herein called "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 (l) 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), written notice of which shall be given to the Holder of this Note by the Company not less than 10 calendar 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. In the case of a default in payment of principal upon acceleration or at the Maturity Date, the Accreted
Value (as defined below) of this Note at the date of such default in payment shall bear interest at the Yield to Maturity specified above plus 1% per annum (to the extent that the payment of such
interest shall be legally enforceable), which shall accrue from the date of such default in payment to the date payment of such principal has been made or duly provided for. Such interest will be
computed on the basis of a 360-day year of twelve 30-day months, compounded semi-annually. Payment of the principal of and interest, if
any, 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 any other place designated by the Company for such purpose, and, if
the Specified Currency is U.S. dollars, 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, however,
that at the option of the Company, payment of interest may be made by check mailed to the address of the Person entitled 

C-3

 

thereto as such address shall appear in the Security Register, and provided, further that, if the Holder hereof is the Holder of U.S. $1,000,000 (or
the equivalent thereof in a currency other than U.S. dollars determined as provided on the reverse hereof) or more in aggregate principal amount of Notes having the same Interest Payment Dates, at the
option of the Company, such U.S. dollar interest payments will be made 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 payment date. Any wire instructions received by the Trustee shall remain in effect until revoked by the Holder. Simultaneously with any
election by the Holder hereof to receive payments in respect hereof in the Specified Currency (if other than U.S. dollars), such Holder shall provide appropriate wire transfer instructions to the
Trustee and all such payments will be made by wire transfer of immediately available funds to an account maintained by the payee with a bank located outside the United States. 

        The
"Accreted Value" of this Note at any date (the "Calculation Date") shall be equal to (i) the Original Issue Price of this Note specified above plus (ii) the accrued
amortization of Original issue Discount specified above attributable ratably on a daily basis to the period from and including the Original Issue Date specified above to but excluding such Calculation
Date. The calculation of accrual of Original Issue Discount will be computed on the basis of a 360-day year of twelve 30-day months, compounded semi-annually. 

        For
purposes of this Note, "Business Day" means any day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which commercial banks are authorized or required
by law, regulation or executive order to close in The City of New York; provided, however, that, with respect to foreign currency Notes, the day is also not a day on which commercial banks are
authorized or required by law, regulation or executive order to close in the Principal Financial Center (as defined below) of the country issuing the Specified Currency or, if the Specified Currency
is euros, the day is also a day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET) System is open. 

        For
the purposes of this Note, "Principal Financial Center" means 

	(1)
	the
capital city of the country issuing the Specified Currency, except that with respect to the United States dollars, Australian dollars, Canadian dollars, South African rand and
Swiss francs, the "Principal Financial Center" will be The City of New York, Sydney and Melbourne, Toronto, Johannesburg and Zurich, respectively, or

	(2)
	the
capital city of the country to which the LIBOR Currency relates, except that with respect to United States dollars, Australian dollars, Canadian dollars, South African rand and
Swiss francs, the "Principal Financial Center" will be The City of New York, Sydney, Toronto, London, Johannesburg and Zurich, respectively. 

        [The
indebtedness evidenced by this Note is, to the extent set forth in the Indenture, expressly subordinated and subject in right of payment to the prior payment in full of
Senior Indebtedness as defined in the Indenture, and this Note is issued subject to such provisions, and each Holder of this Note, by accepting the same, agrees to and shall be bound by such
provisions and authorizes and directs the Trustee in such Holder's behalf to take such action as may be necessary or appropriate to acknowledge or effectuate the subordination as provided in the
Indenture and appoints the Trustee as such Holder's attorney-in-fact for any and all such purposes.] 

        If
this Note is an Amortizing Note as shown on the face hereof or in the pricing supplement attached hereto or delivered herewith, a portion or all the principal amount of the Note is
payable prior to Stated Maturity in accordance with a schedule, by application of a formula, or by reference to an index (as described above). 

        The
principal hereof and any premium and interest hereon are payable by the Company in the Specified Currency shown above. If the Specified Currency shown above is other than U.S.
dollars, the 

C-4

 

Company will arrange to convert all payments in respect hereof into U.S. dollars in the manner described below. The Holder hereof may, if so indicated above, elect to receive all payments in respect
hereof in the Specified Currency by notifying the participant of the depositary through which its interest is held, or, in the case of certificated notes, the Trustee, at its office in the Borough of
Manhattan, the City of New York, or at such other place as the Company may designate, on or before the applicable Regular Record Date, in the case of a payment of interest, and on or before the
sixteenth day, whether or not a Business Day, before its Stated Maturity, in the case of principal or premium, of the Holder's election to receive all or a portion of any payment in a Specified
Currency. In the case of book-entry notes, the participant must notify the depositary of any election on or before the third Business Day after the Regular Record Date. The depositary or
the Trustee, as applicable, will notify the Paying Agent of the election on or before the fifth Business Day after the Regular Record Date. If complete instructions are received by the participant and
forwarded to the depositary, and forwarded by the depositary to the Paying Agent, on or before the relevant dates, the beneficial owner of this Note will receive payments in the Specified Currency.
Such election will remain in effect until revoked by written notice to the Trustee received not later than fifteen calendar days prior to the applicable payment date. If the Company determines that
the Specified Currency is not available for making payments in respect hereof due to the imposition of exchange controls or other circumstances beyond the Company's control or is no longer used by the
government of the country issuing such currency or for the settlement of transactions by public institutions or within the international banking community, then the Holder hereof may not so elect to
receive payments in the Specified Currency, and any such outstanding election shall be automatically suspended, and payments shall be in U.S. dollars, until the Company determines that the Specified
Currency is again available for making such payments. 

        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. 

        Notwithstanding
the foregoing, if an Addendum is attached hereto as specified above, this Note shall be subject to the terms set forth in such Addendum. 

        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. 

        This
Note is one of a duly authorized issue of securities (herein called the "Securities") of the Company (which term includes any successor corporation under the Indenture hereinafter
referred to) issued and to be issued pursuant to such Indenture. This Security is one of a series designated by the Company as its Medium-Term [Senior]
[Subordinated] Notes, Series [C] [A] (the "Notes"). The Indenture does not limit the aggregate principal amount of the Notes or
the Securities. 

The
Company issued this Note pursuant to an Indenture, dated as of [April l, 1998] [January 20, 1999] (herein called the "Indenture" which term,
for the purpose of this Note, shall include the Officers' Certificate dated June 30, 1999, delivered pursuant to Sections 201 and 301 of the Indenture, and the First Supplemental Indenture
dated March 6, 2002), between the Company and The Bank of New York, 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 U.S. dollar equivalent of the public offering price or purchase price of Notes
denominated in currencies other than U.S. dollars will be determined by The Bank of New York, as exchange rate agent for the Notes (the "Exchange Rate Agent") pursuant to the 

C-5

 

Exchange Rate Agency Agreement, dated as of March 6, 2002, between the Company and the Exchange Rate Agent. 

        The
Notes are issuable as Registered Securities, without coupons, in denominations of $1,000 (if the Specified Currency is U.S. Dollars) and any amount in excess thereof which is an
integral multiple of $1,000 (if the Specified Currency is U.S. Dollars). As provided in the Indenture and subject to certain limitations therein set forth, 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. 

Fixed Rate Notes  

        This Note will bear interest at the rate per annum stated on the face hereof or in an addendum attached hereto until the principal amount hereof is paid or made
available for payment, except as otherwise described below under "Subsequent Interest Periods" and "Extension of Maturity," and except that if so specified in an addendum hereto, the rate of interest
payable on certain Fixed Rate Notes may be subject to adjustment as specified therein. 

Subsequent Interest Periods  

        If so specified on the face hereof or in an addendum hereto, the Interest Rate on this Note may be reset by the Company on the date or dates specified on the face
hereof or in an addendum hereto or delivered herewith (each an "Optional Reset Date"). Not later than 40 days prior to each Optional Reset Date, the Trustee will mail to the Holder of this
Note a notice (the "Reset Notice"), first class, postage prepaid, indicating whether the Company has elected to reset the Interest Rate, and if so, (i) such new Interest Rate and
(ii) the provisions, if any, for redemption during the period from such Optional Reset Date to the next Optional Reset Date, or, if there is no such next Optional Reset Date, to the Stated
Maturity of this Note (each such period, a "Subsequent Interest Period"), including the date or dates on which or the period or periods during which and the price or prices at which such redemption
may occur during the Subsequent Interest Period. Upon the transmittal by the Trustee of a Reset Notice to the holder of a Note, such new interest rate shall take effect automatically. Except as
modified by the Reset Notice and as described below, such Note will have the same terms as prior to the transmittal of such Reset Notice. Notwithstanding the foregoing, not later than 20 days
prior to an Optional Reset Date, the Company may, at its option, revoke the Interest Rate provided for in the Reset Notice and establish a higher Interest Rate for the Subsequent Interest Period by
causing the Trustee to mail notice of such higher Interest Rate to the Holder of this Note. Such notice shall be irrevocable. All Notes with respect to which the Interest Rate is reset on an Optional
Reset Date will bear such higher Interest Rate whether or not tendered for repayment. 

        The
Holder of this Note will have the option to elect repayment by the Company on each Optional Reset Date at a price equal to the principal amount hereof, plus interest accrued to such
Optional Reset Date. In order to obtain repayment on an Optional Reset Date, the Holder must follow the procedures set forth below for optional repayment, except that the period for delivery or
notification to the Trustee shall be at least 25 but not more than 35 days prior to such Optional Reset Date, and except that if the Holder has tendered this Note for repayment pursuant to a
Reset Notice, the Holder may, by written notice to the Trustee, revoke such tender for repayment until the close of business on the tenth day before the Optional Reset Date. 

Indexed Principal Notes  

        If this Note is an Indexed Principal Note, then the principal amount payable at Stated Maturity or earlier redemption or retirement is determined by reference to
the amount designated on the face 

C-6

 

hereof or in an addendum hereto as the face amount of this Note and by reference to the Index as described on the face hereof or in an addendum hereto. If this Note is an Indexed Principal Note, the
principal amount payable at Stated Maturity or any earlier redemption or repayment of this Note may be different from the face amount. 

        If
a third party is appointed to calculate or announce the Index for a particular Indexed Principal Note and this third party either suspends the calculation or announcement of such
Index or changes the basis upon which such Index is calculated, in a manner that is inconsistent with the applicable pricing supplement, then the Company will select another third party to calculate
or announce the Index. The agents or their respective affiliates may be either the original or successor third party selected by the Company. 

        If
for any reason such Index cannot be calculated on the same basis and subject to the same conditions and controls as applied to the original third party, then the indexed principal
amount of such Indexed Principal Note will be calculated in the manner set forth in the applicable pricing supplement. Any determination by the selected third party will be binding on all parties,
except in the case of an obvious error. 

Specified Currency  

        If the Specified Currency is other than U.S. dollars, the amount of any U.S. dollar payment to be made in respect hereof will be determined by the Company or its
agent based on the highest firm bid quotation expressed in U.S. dollars received by the Company or its agent at approximately 11:00 a.m., New York City time, on the second Business Day
preceding the applicable payment date (or, if no such rate is quoted on such date, the last date on which such rate was quoted) from three (or, if three are not available, then two) recognized foreign
exchange dealers in The City of New York selected by the Exchange Rate Agent (one or more of which may be an agent involved in the distribution of the Notes (an "Agent") and another of which may be
the Exchange Rate Agent) for the purchase by the quoting dealer, for settlement on such payment date, of the aggregate amount of the Specified Currency payable on such payment date in respect of all
Notes denominated in such Specified Currency. All currency exchange costs will be borne by the Holders of such Notes by deductions from such payments. If no such bid quotations are available, then
such payments will be made in the Specified Currency, unless the Specified Currency is unavailable due to the imposition of exchange controls or to other circumstances beyond the Company's control, in
which case payment will be made as described in the next paragraph. 

Payments in Currencies Other than the Specified Currency  

        Except as set forth below, if any payment in respect hereof is required to be made in a Specified Currency other than U.S. dollars and such currency is
(i) unavailable due to the imposition of exchange controls or other circumstances beyond the Company's control, (ii) is no longer used by the government of the country issuing such
currency or (iii) is no longer used for the settlement of transactions by public institutions of or within the international banking community, then such payment shall be made in U.S. dollars
until such currency is again available or so used. The amount so payable on any date in such foreign currency shall be converted into U.S. dollars on the basis of the noon buying rate in New York City
for cable transfers, in the Specified Currency, as certified for customs purposes by the Federal Reserve Bank of New York (the "Market Exchange Rate") as of the second Business Day preceding that day,
or if such Market Exchange Rate is unavailable, the most recently available Market Exchange Rate for such currency, or as otherwise indicated on the face hereof or in the pricing supplement attached
hereto or delivered herewith. Any payment made under such circumstances in U.S. dollars will not constitute an Event of Default under the Indenture. 

C-7

 

        In
the event of an official redenomination of the Specified Currency of this Note (other than as a result of the European Monetary Union, but including, without limitation, an official
redenomination of any such Specified Currency that is a composite currency), the obligations of the Company with respect to payments on this Note shall, in all cases, be deemed immediately following
such redenomination to provide for the payment of that amount of redenominated currency representing the amount of such obligations immediately before such redenomination. This Note does not provide
for any adjustment to any amount payable under this Note as a result of (i) any change in the value of the Specified Currency hereof relative to any other currency due solely to fluctuations in
exchange rates or (ii) any redenomination of any component currency of any composite currency (unless such composite currency is itself officially redenominated). 

Dual Currency Notes  

        If this Note is specified on the face hereof or in an addendum hereto as a Dual Currency Note, the Company may have a one time option, exercisable on one or more
dates (each an "Option Election Date"), with respect to all Dual Currency Notes issued on the same day and having the same terms (a "Tranche"), of thereafter making all payments of principal, premium,
if any, and interest (which payments would otherwise be made in the Specified Currency of such Notes) in an optional currency (the "Optional Payment Currency"). Such option will be exercisable in
whole but not in part on an Option Election Date, which will be any one of the dates specified on the face hereof or in an addendum hereto. 

        If
the Company makes such an election, the amount payable in the Optional Payment Currency shall be determined using the Designated Exchange Rate specified on the face hereof or in an
addendum hereto. If such election is made, notice of such election shall be mailed in accordance with the terms of the applicable Tranche of Dual Currency Notes within two Business Days of the Option
Election Date and shall state (i) the first date, whether an Interest Payment Date and/or Stated Maturity, on which scheduled payments in the Optional Payment Currency will be made and
(ii) the Designated Exchange Rate. Any such notice by the Company, once given, may not be withdrawn. The equivalent value in the Specified Currency of payments made after such an election may
be less, at the then current exchange rate, than if the Company had made such payment in the Specified Currency. 

Renewable Notes  

        If this Note is specified on the face hereof or in an addendum hereto as a Renewable Note, this Note will mature on an Interest Payment Date occurring in or prior
to the twelfth month following the Original Issue Date of this Note (the "Initial Stated Maturity") unless the term of all or any portion of this Note is renewed in accordance with the following
procedures. 

        On
the Interest Payment Date occurring in the sixth month (unless a different interval (the "Special Election Interval") is specified on the face hereof or in the pricing supplement
attached hereto or delivered herewith) prior to the Initial Stated Maturity of this Note (the "Initial Renewal Date") and on the Interest Payment Date occurring in each sixth month (or in the last
month of each Special Election Interval) after such Initial Renewal Date (each, together with the Initial Renewal Date, a "Renewal Date"), the term of this Note may be extended to the Interest Payment
Date occurring in the twelfth month (or, if a Special Election Interval is specified on the face hereof or in the pricing supplement attached hereto or delivered herewith, the last month in a period
equal to twice the Special Election Interval) after such Renewal Date, if the Holder of this Note elects to extend the term of this Note or any portion thereof as described below. If the Holder does
not elect to extend the term of any portion of the principal amount of this Note during the specified period prior to any Renewal Date, such portion will become due and payable on the Interest Payment
Date occurring in the sixth month (or the last month in the Special Election Interval) after such Renewal Date (the "New Maturity Date"). 

C-8

 

        The
Holder may elect to renew the term of this Note, or if so specified, any portion thereof, by delivering a notice to such effect to the Trustee (or any duly appointed paying agent) at
the corporate trust office of the Trustee or agency of the Trustee in the City of New York not less than 15 nor more than 30 days prior to such Renewal Date. Such election will be irrevocable
and will be binding upon each subsequent Holder of this Note. An election to renew the term of this Note may be exercised with respect to less than the entire principal amount of this Note only if so
specified on the face hereof or in an addendum hereto and then only in such principal amount, or any integral multiple in excess of such amount, as is specified on the face hereof or in the pricing
supplement attached hereto or delivered herewith. Notwithstanding the foregoing, the term of this Note may not be extended beyond the Stated Maturity specified for this Note on the face hereof or in
an addendum hereto. 

        If
the Holder does not elect to renew the term, this Note must be presented to the Trustee (or any duly appointed paying agent) and, as soon as practicable following receipt of such Note
the Trustee (or any duly appointed paying agent) shall issue in exchange therefor in the name of such Holder (i) a Note, in a principal amount equal to the principal amount of such exchanged
Note for which no election to renew the term thereof was exercised, with terms identical to those specified on such exchanged Note (except that such Note shall have a fixed, nonrenewable Stated
Maturity on the New Maturity Date) and (ii) if an election to renew is made with respect to less than the full principal amount of such Holder's Note, the Trustee, or any duly appointed paying
agent, shall issue in exchange for such Note in the name of such Holder, a replacement Renewable Note, in a principal amount equal to the principal amount of such exchanged Note for which the election
to renew was made, with terms otherwise identical to the exchanged Note. 

Extension of Maturity  

        If so specified on the face hereof or in an addendum hereto, the Maturity of this Note may be extended at the option of the Company for one or more periods of
whole years specified on the face hereof or in the pricing supplement attached hereto or delivered herewith (each an "Extension Period") from one to five, up to but not beyond the date (the "Final
Maturity") set forth on the face hereof or in an addendum hereto. The Company may exercise such option by notifying the Trustee for this Note at least 45 but not more than 60 days prior to the
old Stated Maturity of this Note. If the Company exercises such option, the Trustee will mail to the Holder of this Note not later than 40 days prior to the old Stated Maturity a notice (the
"Extension Notice") first class, postage prepaid indicating (i) the election of the Company to extend the Stated Maturity, (ii) the new Stated Maturity, (iii) the Interest Rate
applicable to the Extension Period and (iv) the provisions, if any, for redemption during such Extension Period including the date or dates on which, or the period or periods during which, and
the price or prices at which such redemption may occur during the extension period. 

        Upon
the Trustee's mailing of the Extension Notice, the Stated Maturity of this Note shall be extended automatically and, except as modified by the Extension Notice and as described in
the next paragraph, this Note will have the same terms as prior to the mailing of such Extension Notice. Notwithstanding the foregoing, not later than 20 days prior to the old Stated Maturity
of this Note, the Company may, at its option, revoke the Interest Rate provided for in the Extension Notice and establish a higher Interest Rate for the Extension Period by causing the Trustee to mail
notice of such higher Interest Rate, first class, postage prepaid to the Holder of this Note. Such notice shall be irrevocable. All Notes with respect to which the Stated Maturity is extended will
bear such higher Interest Rate for the extension period, whether or not tendered for repayment. 

        If
the Company extends the Stated Maturity of this Note, the Holder will have the option to elect repayment of this Note by the Company on the old Stated Maturity at a price equal to the
principal amount hereof, plus interest accrued to such date. In order to obtain repayment on such old Stated Maturity once the Company has extended the Stated Maturity hereof, the Holder must follow
the procedures set forth below for optional repayment, except that the period for delivery of this Note or 

C-9

 

notification to the Trustee shall be at least 25 but not more than 35 days before the old Stated Maturity, and except that if the Holder has tendered this Note for repayment pursuant to an
Extension Notice, the Holder may, by written notice to the Trustee, revoke such tender for repayment until the close of business on the tenth day before the old Stated Maturity. 

Optional Redemption, Repayment and Repurchase  

        This Note will be subject to redemption at the option of the Company on any date on or after the first Optional Redemption Date, if any, specified on the face
hereof, in whole or from time to time in part in increments of U.S.$1,000 (if the Specified Currency is U.S. dollars) or such other increment specified on the face hereof under Authorized Denomination
(if the Specified Currency is not U.S. dollars) (provided that any remaining principal amount hereof shall be an Authorized Denomination and at least the minimum Authorized Denomination hereof) at the
Redemption Price (as defined below), together with unpaid interest accrued thereon to the date fixed for redemption (the "Redemption Date"), on written notice given to the Holder hereof (in accordance
with the provisions of the Indenture) not more than 60 nor less than 30 calendar days prior to the Redemption Date. The "Redemption Price" shall be the Initial Redemption Percentage specified on the
face hereof (as adjusted by the Annual Redemption Percentage Reduction, if any, specified on the face hereof as set forth below) multiplied by the Accreted Value of this Note to be redeemed. The
Initial Redemption Percentage, if any, shall decline at each anniversary of the Initial Redemption Date by the Annual Redemption Percentage Reduction, if any, until the Redemption Price is equal to
100% of the Accreted Value of this Note to be redeemed. Whenever less than all of the Notes of like tenor and terms are to be redeemed, the Notes to be redeemed and the Holders thereof shall be
selected by the Trustee by such method as the Trustee shall deem fair and reasonable. In the event of redemption of this Note in part only, a new Note of like tenor and otherwise having the same terms
as this Note for the unredeemed portion hereof shall be issued by the Company in the name of the Holder hereof, without charge, upon the presentation and surrender hereof. 

        This
Note will be subject to repayment by the Company at the option of the Holder hereof on the Optional Repayment Date(s), if any, specified on the face hereof, in whole or from time to
time in part in increments of U.S.$l,000 (if the Specified Currency is U.S. dollars) or such other increment specified on the face hereof under Authorized Denomination (if the Specified Currency is
not U.S. dollars) (provided that any remaining principal amount hereof shall be an Authorized Denomination and at least the minimum Authorized Denomination hereof) at a repayment price equal to 100%
of the Accreted Value of this Note, together with unpaid interest accrued thereon to the date fixed for repayment (the "Repayment Date"). For this Note to be repaid, the Trustee must receive at its
office, currently located at 101 Barclay Street, 21 West, New York, New York, not more than 60 nor less than 30 calendar days prior to the Repayment Date, (i) in the case of a certificated
note, such certificated note and the form thereon entitled "Option to Elect Repayment" duly completed or (ii) in the case of a book-entry note, instructions to such effect from the
applicable Beneficial Owner to the Depositary and forwarded by the Depositary. Exercise of such repayment option by the Holder hereof will be irrevocable. In the event of repayment of this Note in
part only, a new Note of like tenor and terms for the unrepaid portion hereof and otherwise having the same terms as this Note shall be issued by the Company in the name of the Holder hereof without
charge, upon the presentation and 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 Notes shall relate, in the case of any
Notes redeemed or to be redeemed by the Company only in part, to that portion of the principal amount of such Notes that has been or is to be so redeemed. 

C-10

 

Events of Default  

        If an Event of Default with respect to the Notes shall occur and be continuing, a portion of the principal of this Note may be declared due and payable in the
manner and with the effect provided in the Indenture. Such portion shall be equal to the Accreted Value of this Note at the time of payment with respect to such declaration. Upon payment (i) of
such Accreted Value and (ii) of interest on any overdue Accreted Value (to the extent that the payment of such interest shall be legally enforceable), all of the Company's obligations in
respect of the payment of the principal of and interest on this Note shall terminate. 

Amendment of Indenture  

        The Indenture permits, in certain circumstances therein specified, the amendment thereof without the consent of the Holders of the Notes. 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 the Holders of not less than a majority in principal amount of the
Outstanding Securities of each series to be affected. The Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of the Outstanding Securities of each
series, on behalf of the Holders of all the 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 or, 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. 

Defeasance  

        The Indenture permits the Company, by irrevocably depositing, 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, cash or U.S. Government Obligations with the Trustee in trust solely for the benefit of the Holders of all Outstanding Notes, to
defease the Indenture with respect to such Notes, and upon such deposit the Company shall be deemed to have paid and discharged its entire indebtedness on such Notes. Thereafter, Holders would be able
to look only to such trust fund for payment of principal and interest at the Stated Maturity or Redemption Date, as the case may be. 

Transfer of 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 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 hereof 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. 

C-11

 

        Transfers
of ownership interests in a Global Note representing Notes in book-entry form are to be accomplished by entries made on the books of participants of the depositary
acting on behalf of beneficial owners. 

        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, 906 or 1107 of the Indenture not involving any transfer or as
provided in the Indenture). 

        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. 

Governing Law  

        The Indenture and the Notes shall be governed by and construed in accordance with the laws of the State of New York including, without limitation,
Section 5-1401 of the New York General Obligations Law. 

        All
undefined terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

C-12

 

        IN
WITNESS WHEREOF, Occidental Petroleum Corporation has caused this Instrument to be signed by the signature or facsimile signature of its Chairman of the Board, President, a Vice
President, its Treasurer or an Assistant Treasurer and attested by its Secretary or an Assistant Secretary by his or her signature or a facsimile thereof, and its corporate seal or a facsimile of its
corporate seal to be affixed hereunto or imprinted hereon. 

	(SEAL)	 	OCCIDENTAL PETROLEUM CORPORATION
	 	 	 	 	 
	 	 	 	 	 
	

 	
 	

By:	
 	

 Title:

Attest:

	
	 

C-13

  

 
 

ABBREVIATIONS    
  

        The
following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable laws or
regulations: 

	TEN COM	 	—	 	as tenants in common	 	UNIF GIFT MIN ACT	 	.....................  Custodian	 	.....................
	 	 	 	 	 	 	 	 	(Cust.)                	 	(Minor)
	TEN ENT	 	—	 	as tenants by the entireties	 	 	 	Under Uniform Gifts to Minor Act
	JT TEN	 	—	 	as joint tenants with right of	 	 	 	 	 	 
	 	 	 	 	survivorship and not as tenants	 	 	 	............................................................
	 	 	 	 	in common	 	 	 	      (State)

Additional abbreviations may also be used though not in the above list. 

FOR
VALUE RECEIVED, the undersigned hereby sells(s), assign(s) and transfer(s) unto 

	 	 	Please Insert Social Security or Employer	 	 
	 	 	Identification Number of Assignee	 	 
	

	
	 	 	 	

	
	 	 	 	

	
	 	 	 	

	
	 	 	 	

	

Please Print or Typewrite Name and Address

Including Postal Zip Code of Assignee 

the
within Security and all rights thereunder, hereby irrevocably constituting and appointing                        attorney to
transfer said Security on the books of the Company, with full power of
substitution in the premises. 

	Dated:	 	 	 
	 	
	 	
 Signature

NOTICE:
The signature to this assignment must correspond with the name as it appears upon the face of the within Note in every particular, without alteration or enlargement or any change whatever. 

C-14

 
OPTION TO ELECT REPAYMENT  

        The undersigned hereby irrevocably request(s) and instruct(s) the Company to repay this Note (or portion hereof specified below) pursuant to its terms at a price
equal to 100% of the principal amount to be repaid, together with unpaid interest accrued hereon to, but not including the Repayment Date, to the undersigned, at: 

(Please print or typewrite name and address of the undersigned) 

        For
this Note to be repaid, the Trustee must receive at its office in the Borough of Manhattan, The City of New York, currently located at 101 Barclay Street, 21 West, not more than 60
nor less than 30 calendar days prior to the Repayment Date, this Note with this "Option to Elect Repayment" form duly completed. 

        If
less than the entire principal amount of this Note is to be repaid, specify the portion hereof (which shall be increments of U.S.$ 1,000 or other Authorized Denomination specified on
the face hereof (provided that any remaining principal amount shall be at least U.S.$100,000 or the minimum Authorized Denomination)) which the Holder elects to have repaid and specify the
denomination or denominations (which shall be U.S.$100,000 or the minimum Authorized Denomination) of the Notes to be issued to the Holder for the portion of this Note not being repaid (in the absence
of any such specification, one such Note will be issued for the portion not being repaid). 

Principal
amount to be repaid $ 

Option
to Elect Repayment Date: 

Notice:    The
signature(s) on this must correspond with the name(s) as written upon the face of this Note in every particular, without alteration or enlargement or any change whatsoever. 

	Dated:	 	 	 
	 	
	 	
 Signature

C-15

  

 
 

Exhibit D    
  

[Form
of Global Zero Coupon Registered Security—United States] 

	 
	 	 
	 	 

	REGISTERED	 	 	 	REGISTERED
	

OCCIDENTAL PETROLEUM CORPORATION
	

NO. FXR-	
 	

MEDIUM-TERM [SENIOR] [SUBORDINATED]

NOTE, SERIES [C] [A]

(Zero Coupon)	
 	

PRINCIPAL AMOUNT:

U.S.$

CUSIP:

        Unless and until it is exchanged in whole or in part for Notes in definitive form, this Note may not be transferred except as a whole by the Depositary to a
nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of
such successor Depositary. Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation ("DTC"), to the issuer or its agent for
registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or to such other entity 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.

        Pursuant to Proposed Treasury Regulation Section 1.1275-3, (a) the amount of the original issue discount on this security is as
specified below, (b) the original issue date is as specified below, (c) the yield to maturity, computed under the approximate method, is as specified below, and (d) the amount of
the original issue discount allocable to the short accrual period occurring
between                                        
        and                                  
              is
$                            .
 

	 
	 	 

	Issue Price:	 	Original Issue Date:
	

Original Issue Discount:	
 	

Stated Maturity:

Specified
Currency (If other than U.S. dollars): 

Authorized
Denominations:

                (If other than as set forth in the Prospectus Supplement) 

Exchange
Rate Agent: 

	 
	 	 
	 	 

	

Dual Currency Note:	
 	

o Yes (see addendum)	
 	

o No
	 	

Optional Payment Currency:	
 	

 	
 	

 
	 	Designated Exchange Rate:	 	 	 	 
	

Indexed Principal Note:	
 	

o Yes (see addendum)	
 	

o No
	

Discount Note:	
 	

o Yes	
 	

o No
	 	

Issue Price:	
 	

      %	
 	

 
	 	

Yield to Maturity:	
 	

 	
 	

 

        Dated:
________________________ 

D-1

 
TRUSTEE'S CERTIFICATE OF AUTHENTICATION  

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

THE
BANK OF NEW YORK, as Trustee 

	

By:	
 	

 Authorized Signatory	
 	

 

D-2

   
        OCCIDENTAL PETROLEUM CORPORATION, a corporation duly organized and existing under the laws of the State of Delaware (herein referred to as the "Company"), for value received, hereby
promises to pay to CEDE & CO., or registered assigns, the principal amount specified above on the Stated Maturity specified above ("Maturity"). If Maturity with respect to this Note falls on a
day that is not a Business Day, the payment due at Maturity will be made on the following day that is a Business Day as if it were made on the date such payment was due and no interest shall accrue on
the amount so payable for the period from and after Maturity. The principal of this Note shall not bear interest except in the case of a default in payment of principal upon acceleration or at the
Stated Maturity, and in such case, the Accreted Value (as defined below) of this Note at the date of such default in payment shall bear interest at the Yield to Maturity specified above plus 1% per
annum (to the extent that the payment of such interest shall be legally enforceable), which shall accrue from the date of such default in payment to the date payment of such principal has been made or
duly provided for. Such interest will be computed on the basis of a 360-day year of twelve 30-day months, compounded semi-annually. Payment of the principal of and
any such 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 any other place designated by the Company for such
purpose, and if the Specified Currency is U.S. dollars, 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, however,
 that at the option of the Company, payment of any interest may be made by check mailed to the address of the Person entitled thereto
as such address shall appear in the Security Register, and provided, further that, if the Holder hereof is the Holder of U.S. $1,000,000 (or the
equivalent thereof in a currency other than U.S. dollars determined as provided on the reverse hereof) or more in aggregate principal amount of Notes of like tenor and term, such U.S. dollar interest
payments will be made 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 payment date. Any wire transfer instructions received by the Trustee shall remain in effect until revoked by the Holder. Simultaneously with any election by the Holder hereof to receive
payments in respect hereof in the Specified Currency (if other than U.S. dollars), such Holder shall provide appropriate wire transfer instructions to the Trustee and all such payments will be made by
wire transfer of immediately available funds to an account maintained by the payee with a bank located outside the United States. 

        The
"Accreted Value" of this Note at any date (the "Calculation Date") shall be equal to (i) the Original Issue Price of this Note specified above plus (ii) the accrued
amortization of Original issue Discount specified above attributable ratably on a daily basis to the period from and including the Original Issue Date specified above to but excluding such Calculation
Date. The calculation of accrual of Original issue Discount will be computed on the basis of a 360-day year of twelve 30-day months, compounded semi-annually. 

        For
purposes of this Note, "Business Day" means any day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which commercial banks are authorized or required
by law, regulation or executive order to close in The City of New York; provided, however, that, with respect to
foreign currency Notes, the day is also not a day on which commercial banks are authorized or required by law, regulation or executive order to close in the Principal Financial Center (as defined
below) of the country issuing the Specified Currency or, if the Specified Currency is euros, the day is also a day on which the Trans-European Automated Real-Time Gross Settlement Express
Transfer (TARGET) System is open. 

        For
the purposes of this Note, "Principal Financial Center" means 

        (1)  the
capital city of the country issuing the Specified Currency, except that with respect to United States dollars, Australian dollars, Canadian dollars, South African
rand and Swiss francs, the "Principal Financial Center" will be The City of New York, Sydney and Melbourne, Toronto, Johannesburg and Zurich, respectively, or 

D-3

 

        (2)  the
capital city of the country to which the LIBOR Currency relates, except that with respect to United States dollars, Australian dollars, Canadian dollars, South
African rand and Swiss francs, the "Principal Financial Center" will be The City of New York, Sydney, Toronto, London, Johannesburg and Zurich, respectively. 

        [The
indebtedness evidenced by this Note is, to the extent set forth in the Indenture, expressly subordinated and subject in right of payment to the prior payment in full of
Senior Indebtedness as defined in the Indenture, and this Note is issued subject to such provisions, and each Holder of this Note, by accepting the same, agrees to and shall be bound by such
provisions and authorizes and directs the Trustee in such Holder's behalf to take such action as may be necessary or appropriate to acknowledge or effectuate the subordination as provided in the
Indenture and appoints the Trustee as such Holder's attorney-in-fact for any and all such purposes.] 

        The
principal hereof and any premium and interest hereon are payable by the Company in the Specified Currency shown above. If the Specified Currency shown above is other than U.S.
dollars, the Company will arrange to convert all payments in respect hereof into U.S. dollars in the manner described below. The Holder hereof may, if so indicated above, elect to receive all payments
in respect hereof in the Specified Currency by notifying the participant of the depositary through which its interest is held, or, in the case of certificated notes, the Trustee, at its office in the
Borough of Manhattan, the City of New York, or at such other place as the Company may designate on or before the sixteenth day, whether or not a Business Day, before Maturity of the Holder's election
to receive all or a portion of any payment in a Specified Currency. The participant should as soon as practicable notify the depository of the election. The depositary or the Trustee, as applicable,
will notify the Paying Agent of the election on or before the fifth Business Day after the Regular Record Date. If complete instructions are received by the participant and forwarded to the
depositary, and forwarded by the depositary or the Trustee, as applicable, to the Paying Agent, on or before the relevant dates, the beneficial owner of this Note will receive payments in the
Specified Currency. Such election will remain
in effect until revoked by written notice to the Trustee received not later than fifteen calendar days prior to the applicable payment date. If the Company determines that the Specified Currency is
not available for making payments in respect hereof due to the imposition of exchange controls or other circumstances beyond the Company's control or is no longer used by the government of the country
issuing such currency or for the settlement of transactions by public institutions or within the international banking community, then the Holder hereof may not so elect to receive payments in the
Specified Currency, and any such outstanding election shall be automatically suspended, and payments shall be in U.S. dollars, until the Company determines that the Specified Currency is again
available for making such payments. 

        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. 

        Notwithstanding
the foregoing, if an Addendum is attached hereto as specified above, this Note shall be subject to the terms set forth in such Addendum. 

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

        This
Note is one of a duly authorized issue of securities (herein called the "Securities") of the Company (which term includes any successor corporation under the Indenture hereinafter
referred to) issued and to be issued pursuant to such Indenture. This Security is one of a series designated by the Company as its Medium-Term [Senior]
[Subordinated] Notes, Series [C] [A] (the "Notes"). The Indenture does not limit the aggregate principal amount of the Notes or
the Securities. 

D-4

 

The
Company issued this Note pursuant to an Indenture, dated as of [April l, 1998] [January 20, 1999] (herein called the "Indenture" which term,
for the purpose of this Note, shall include the Officers' Certificate dated June 30, 1999, delivered pursuant to Sections 201 and 301 of the Indenture, and the First Supplemental Indenture
dated March 6, 2002), between the Company and The Bank of New York, 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 U.S. dollar equivalent of the public offering price or purchase price of Notes
denominated in currencies other than U.S. dollars will be determined by The Bank of New York,
as exchange rate agent for the Notes (the "Exchange Rate Agent") pursuant to the Exchange Rate Agency Agreement, dated as of March 6, 2002, between the Company and the Exchange Rate Agent. 

        The
Notes are issuable as Registered Securities, without coupons, in denominations of $1,000 (if the Specified Currency is U.S. Dollars) and any amount in excess thereof which is an
integral multiple of $1,000 (if the Specified Currency is U.S. Dollars). As provided in the Indenture and subject to certain limitations therein set forth, 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
Notes are issuable as Registered Securities, without coupons, in denominations of $1,000 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, 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. 

Specified Currency  

        If the Specified Currency is other than U.S. dollars, the amount of any U.S. dollar payment to be made in respect hereof will be determined by the Company or its
agent based on the highest firm bid quotation expressed in U.S. dollars received by the Company or its agent at approximately 11:00 a.m., New York City time, on the second Business Day
preceding the applicable payment date (or, if no such rate is quoted on such date, the last date on which such rate was quoted) from three (or, if three are not available, then two) recognized foreign
exchange dealers in The City of New York selected by the Exchange Rate Agent (one or more of which may be an agent involved in the distribution of the Notes (an "Agent") and another of which may be
the Exchange Rate Agent) for the purchase by the quoting dealer, for settlement on such payment date, of the aggregate amount of the Specified Currency payable on such payment date in respect of all
Notes denominated in such Specified Currency. All currency exchange costs will be borne by the Holders of such Notes by deductions from such payments. If no such bid quotations are available, then
such payments will be made in the Specified Currency, unless the Specified Currency is unavailable due to the imposition of exchange controls or to other circumstances beyond the Company's control, in
which case payment will be made as described in the next paragraph. 

Payments in Currencies Other than the Specified Currency  

        Except as set forth below, if any payment in respect hereof is required to be made in a Specified Currency other than U.S. dollars and such currency is
(i) unavailable due to the imposition of exchange controls or other circumstances beyond the Company's control, (ii) is no longer used by the government of the country issuing such
currency or (iii) is no longer used for the settlement of 

D-5

 

transactions by public institutions of or within the international banking community, then such payment shall be made in U.S. dollars until such currency is again available or so used. The amount so
payable on any date in such foreign currency shall be converted into U.S. dollars on the basis of the noon buying rate in New York City for cable transfers, in the Specified Currency, as certified for
customs purposes by the Federal Reserve Bank of New York (the "Market Exchange Rate") as of the second Business Day preceding that day, or if such Market Exchange Rate is unavailable, the most
recently available Market Exchange Rate for such currency, or as otherwise indicated on the face hereof or in the pricing supplement attached hereto or delivered herewith. Any payment made under such
circumstances in U.S. dollars will not constitute an Event of Default under the Indenture. 

        In
the event of an official redenomination of the Specified Currency of this Note (other than as a result of the European Monetary Union, but including, without limitation, an official
redenomination of any such Specified Currency that is a composite currency), the obligations of the Company with respect to payments on this Note shall, in all cases, be deemed immediately following
such redenomination to provide for the payment of that amount of redenominated currency representing the amount of such obligations immediately before such redenomination. This Note does not provide
for any adjustment to any amount payable under this Note as a result of (i) any change in the value of the Specified Currency hereof relative to any other currency due solely to fluctuations in
exchange rates or (ii) any redenomination of any component currency of any composite currency (unless such composite currency is itself officially redenominated). 

Optional Redemption, Repayment and Repurchase  

        This Note may not be redeemed prior to the Stated Maturity set forth above. 

Events of Default  

        If an Event of Default with respect to Notes shall occur and be continuing, a portion of the principal of this Note may be declared due and payable in the manner
and with the effect provided in the Indenture. Such portion shall be equal to the Accreted Value of this Note at the time of payment with respect to such declaration. Upon payment (i) of such
Accreted Value and (ii) of interest on any overdue Accreted Value (to the extent that the payment of such interest shall be legally enforceable), all of the Company's obligations in respect of
the payment of the principal of and interest, if any, on this Note shall terminate. 

Amendment of Indenture  

        The Indenture permits, in certain circumstances therein specified, the amendment thereof without the consent of the Holders of the Notes. 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 the Holders of not less than a majority in principal amount of the
Outstanding Securities of each series to be affected. The Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of the Outstanding Securities of each
series, on behalf of the Holders of all the 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 or, subject to the provisions for satisfaction and discharge in Article Four, of the Indenture shall alter or impair
the obligation of 

D-6

 

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. 

Defeasance  

        The Indenture permits the Company, by irrevocably depositing, 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, cash or U.S. Government Obligations with the Trustee in trust solely for the benefit of the Holders of all Outstanding Notes, to
defease the Indenture with respect to such Notes, and upon such deposit the Company shall be deemed to have paid and discharged its entire indebtedness on such Notes. Thereafter, Holders would be able
to look only to such trust fund for payment of principal and interest at the Stated Maturity or Redemption Date, as the case may be. 

Transfer of 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 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 hereof 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. 

        Transfers
of ownership interests in a Global Note representing Notes in book-entry form are to be accomplished by entries made on the books of participants of the depositary
acting on behalf of beneficial owners. 

        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, 906 or 1107 of the Indenture not involving any transfer or as
provided in the Indenture). 

        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. 

Governing Law  

        The Indenture and the Notes shall be governed by and construed in accordance with the laws of the State of New York including, without limitation,
Section 5-1401 of the New York General Obligations Law. 

        All
undefined terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

D-7

 

        IN
WITNESS WHEREOF, Occidental Petroleum Corporation has caused this Instrument to be signed by the signature or facsimile signature of its Chairman of the Board, President, a Vice
President, its Treasurer or an Assistant Treasurer and attested by its Secretary or an Assistant Secretary by his or her signature or a facsimile thereof, and its corporate seal or a facsimile of its
corporate seal to be affixed hereunto or imprinted hereon. 

	(SEAL)	 	OCCIDENTAL PETROLEUM CORPORATION
	 	 	 	 	 
	 	 	 	 	 
	

 	
 	

By:	
 	

 Title:

Attest:

	
	 

D-8

  

 
 

ABBREVIATIONS    
  

        The
following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable laws or
regulations: 

	TEN COM	 	—	 	as tenants in common	 	UNIF GIFT MIN ACT	 	.....................  Custodian	 	.....................
	 	 	 	 	 	 	 	 	(Cust.)                	 	(Minor)
	TEN ENT	 	—	 	as tenants by the entireties	 	 	 	Under Uniform Gifts to Minor Act
	JT TEN	 	—	 	as joint tenants with right of	 	 	 	 	 	 
	 	 	 	 	survivorship and not as tenants	 	 	 	............................................................
	 	 	 	 	in common	 	 	 	      (State)

Additional abbreviations may also be used though not in the above list. 

FOR
VALUE RECEIVED, the undersigned hereby sells(s), assign(s) and transfer(s) unto 

	 	 	Please Insert Social Security or Employer	 	 
	 	 	Identification Number of Assignee	 	 
	

	
	 	 	 	

	
	 	 	 	

	
	 	 	 	

	
	 	 	 	

	

Please Print or Typewrite Name and Address

Including Postal Zip Code of Assignee 

the
within Security and all rights thereunder, hereby irrevocably constituting and appointing                        attorney to
transfer said Security on the books of the Company, with full power of
substitution in the premises. 

	Dated:	 	 	 
	 	
	 	
 Signature

NOTICE:
The signature to this assignment must correspond with the name as it appears upon the face of the within Note in every particular, without alteration or enlargement or any change whatever. 

D-9

QuickLinks

Exhibit 4.1

FIRST SUPPLEMENTAL INDENTURE TO SENIOR INDENTURE AND SUBORDINATED INDENTURE

RECITALS

ARTICLE I

ARTCLE II

Exhibit A

ABBREVIATIONS

Exhibit B

ABBREVIATIONS

Exhibit C

ABBREVIATIONS

Exhibit D

ABBREVIATIONS

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