Occidental Petroleum Corporation Total Shareholder Return Incentive Award Acknowledgement Letter (Stephen I. Chazen)
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Summary
This letter confirms that Stephen I. Chazen, recipient of a Total Shareholder Return Incentive Award from Occidental Petroleum Corporation, agrees to forfeit any right to receive more than 50% of the performance shares if the company's total shareholder return is negative during the July 1, 2012 to June 30, 2015 performance period. The agreement is a formal acknowledgement of this condition as part of the award's terms.
EX-10.8 2 exhibit108-20130630.htm EXHIBIT 10.8 exhibit 10.8-20130630
EXHIBIT 10.8
Occidental Petroleum Corporation
Acknowledgement Letter
On July 11, 2012, Occidental Petroleum Corporation (the “Company”) granted me a Total Shareholder Return Incentive Award with a performance period of July 1, 2012 through June 30, 2015 (the “Award”).
In accordance with announcements made by the Company today, I confirm that I have agreed that, if, Occidental's Total Shareholder Return for the Performance Period is negative, as calculated under Section 3 of the Award Terms and Conditions, my right to receive Shares in excess of 50% of the Performance Shares awarded will be forfeited.
/s/ STEPHEN I. CHAZEN | ||
Stephen I. Chazen | ||
Date: 4/29/13 | ||
