What is the primary purpose of this 8-K filing?

The primary purpose of this 8-K filing is to report a material definitive agreement, specifically an amendment to Occidental Petroleum Corporation's Supplemental Retirement Plan. This amendment will cease certain accruals under the plan effective December 31, 2004.

Who is affected by the cessation of accruals in the Supplemental Retirement Plan?

The filing indicates that 'certain accruals' are ceasing, suggesting it affects specific participants or categories of participants within the Supplemental Retirement Plan, likely senior executives or key employees who are beneficiaries of such plans. The exact scope of affected individuals would depend on the specific terms of the amendment.

What are the potential financial implications for Occidental Petroleum?

Cessation of accruals in a supplemental retirement plan generally aims to reduce future financial liabilities for the company. While the immediate impact might not be significant, it signals a move towards controlling long-term compensation costs and potential future cash outflows related to retirement benefits.

Where can I find more details about the amendment?

More specific details about the amendment to the Supplemental Retirement Plan can be found in Exhibit 10.1, which is the Amendment Number 2 to the Occidental Petroleum Corporation Supplemental Retirement Plan, filed as part of this Form 8-K.

OXY/OXY-WT 8-K: Material Agreements

Summary

Occidental Petroleum Corporation (OXY) filed an 8-K on December 9, 2004, reporting an amendment to its Supplemental Retirement Plan. Effective December 31, 2004, the company ceased certain accruals under this plan. This action indicates a shift in OXY's executive compensation and benefit strategies, likely aimed at cost management or aligning compensation with current business objectives. Investors should note that changes to executive retirement plans can signal broader financial management decisions. While the immediate financial impact might be limited, this amendment suggests a proactive approach by OXY's management to control future liabilities related to long-term employee benefits. The specific details of the ceased accruals are available in the filed amendment.

Key Highlights

1Occidental Petroleum Corporation (OXY) amended its Supplemental Retirement Plan.
2The amendment is effective December 31, 2004.
3Certain accruals under the Supplemental Retirement Plan will cease as of the effective date.
4This filing is a Form 8-K, indicating a material event for the company.
5The amendment reflects a change in OXY's employee benefit strategy.
6The full amendment document (Exhibit 10.1) is available for detailed review.

OCCIDENTAL PETROLEUM CORP /DE/ 8-K Report, Material Agreement (Dec 9, 2004)

Summary

Key Highlights

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