Occidental Petroleum Corporation Group Excess Liability Insurance Program Participation Agreement
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Summary
Occidental Petroleum Corporation offers certain executives and its subsidiaries' executives participation in a Group Excess Liability Insurance Program. This program provides additional insurance coverage beyond standard liability policies, such as auto and home insurance, with minimum required underlying coverage. Occidental pays the insurance premiums for this excess coverage on behalf of the participating executives.
EX-10.16 6 oxyex101612-31x2020descrip.htm EX-10.16 Document
Exhibit 10.16
OCCIDENTAL PETROLEUM CORPORATION
GROUP EXCESS LIABILITY INSURANCE PROGRAM
Certain executives of Occidental Petroleum Corporation ("Occidental" or the "Company") and its subsidiaries are selected to participate in the Company’s Group Excess Liability Insurance Program (the “Program”). The Program provides excess coverage beyond regular liability policies, with required minimum coverage for underlying policies such as auto and home policies. Under the Program, the Company pays the premium for insurance.
