EXHIBIT 10.6
OCCIDENTAL PETROLEUM CORPORATION
00000 XXXXXXXX XXXXXXXXX
XXX XXXXXXX, XXXXXXXXXX 00000
(000) 000-0000
XX. XXX X. XXXXX
CHAIRMAN OF THE BOARD
AND
CHIEF EXECUTIVE OFFICER
November 17, 2000
Xxxxxx X. xx Xxxxx
Executive Vice President and General Counsel
Occidental Petroleum Corporation
00000 Xxxxxxxx Xxxxxxxxx
Xxx Xxxxxxx, Xxxxxxxxxx 00000
Dear Xxxxxx:
If you concur, clause 7(c) of your Employment Agreement, dated as of April
3, 1998, shall by this letter be amended to be and read as follows:
"(c) Without Cause. Employer may at any time terminate the
employment of Employee without cause or designate a termination for
cause as a termination without cause, and in such event Employer
shall, in lieu of continued employment, compensate Employee in an
amount equal to two (2) times the sum of Employee's highest annual
base salary and annual cash bonus target, such amount payable in equal
monthly installments over two (2) years (the "Compensation Period").
In the event the Employee dies during the Compensation Period, any
remaining payments due will be made to Employee's estate."
If the foregoing amendment is acceptable to you, please execute the
form of acceptance set out below, whereupon this amendment shall become
effective as of the date of this letter.
Sincerely,
Occidental Petroleum Corporation
By: /s/ XXX X. XXXXX
----------------------------
Xx. Xxx X. Xxxxx
Accepted and agreed:
/s/ XXXXXX X. XX XXXXX
-----------------------------
Xxxxxx X. xx Xxxxx
