EXHIBIT 10.2
OCCIDENTAL PETROLEUM CORPORATION
AMENDMENT NO. 1 TO
SENIOR EXECUTIVE SURVIVOR BENEFIT PLAN
(Effective as of January 1, 1986, as Amended
and Restated Effective as of January 1, 1996)
WHEREAS, the Senior Executive Survivor Benefit Plan was adopted and became
effective on January 1, 1986; and
WHEREAS, the Plan was amended and restated effective as of January 1, 1996; and
WHEREAS, Exhibit "A" to the Plan sets forth the annual Executive-paid premium
rates; and
WHEREAS, it is desirable to amend Exhibit "A" to the Plan to reflect that rates
are currently, and in the past have been, based on actual age at the time the
premium is due; and
WHEREAS, it is desirable to amend Exhibit "A" to the Plan to reflect the current
premium rates for Executives aged 68 years or older; and
WHEREAS, Section E. 3. of the Plan, reserves to the Company the right to amend
Exhibit "A" to revise the premium rates.
NOW, THEREFORE, Exhibit A to the Plan is amended effective as of January 1, 1986
to change the heading over the left column from "Age at Entry of Executive" to
"Age of Executive," and the Plan is amended effective as of January 1, 2002, to
delete the Exhibit "A" as in effect on December 31, 2001 and add a new Exhibit
"A" in the form attached hereto.
Executed on February 28, 2002, in the City and County of Los Angeles, State of
California.
OCCIDENTAL PETROLEUM CORPORATION
BY: /s/ RICHARD W. HALLOCK
---------------------------
RICHARD W. HALLOCK
EXHIBIT A
TO
OCCIDENTAL PETROLEUM CORPORATION
SENIOR EXECUTIVE SURVIVOR BENEFIT PLAN
(Effective as of January 1, 2002)
ANNUAL RATES PER $1,000 OF INSURANCE ON LIFE OF EXECUTIVE
---------------------------------------------------------
Age of Premium Paid
Executive By Executive
--------- ------------
45-49 $0.87
50-54 $1.44
55-59 $2.25
60-67 $3.51
68 $3.76
69 $4.14
70 $4.55
71 $5.06
72 $5.62
73 $6.24
74 $6.93
75 $7.70
76 $8.44
77 $9.20
78 $10.04
79 $10.98
80 $12.00
81 $13.15
82 $14.38
83 $15.71
84 $17.41
85 $18.70