Each of Miss Tomich and Messrs. Burkle, Chalsty,
Djerejian, Feick, Maloney, Poladian, Segovia, Syriani and Weisman has
been determined by the Board of Directors as meeting the independence
standard set forth below and in the New York Stock Exchange Listed
Company Manual. Except for the Executive Committee and the Dividend
Committee, all committees of the Board are composed of independent
directors.
Independent Director: In order for a director
to qualify as an "independent director," the Board must affirmatively
determine that the director has no material relationship with Occidental
(either as a partner, stockholder or officer of an organization that
has a relationship with Occidental) that would preclude that nominee
from being an independent director. For the purpose of such
determination, an "independent director" is a director who:
- Has not been employed by Occidental within
the last five years;
- Has not been an employee or affiliate
of any present or former internal or external auditor of
Occidental within the last three years;
- Has not received more than $60,000
in direct compensation from Occidental, other than director
and committee fees, during the current fiscal year or any
of the last three completed fiscal years;
- Has not been an executive officer or
employee of a company that made payments to, or received
payments from, Occidental for property or services in an
amount exceeding the greater of $1 million or 2 percent of
such other company's consolidated gross revenues during the
current fiscal year or any of the last three completed fiscal
years;
- Has not been employed by a company
of which an executive officer of Occidental has been a director
within the last three years;
- Is not affiliated with a not-for-profit
entity that received contributions from Occidental exceeding
the greater of $1 million or 2 percent of such charitable
organization's consolidated gross revenues during the current
fiscal year or any of the last three completed fiscal years;
- Has not had any of the relationships
described above with an affiliate of Occidental; and
- Is not a member of the immediate family
of any person described above. An "immediate family
member" includes a person's spouse, parents, children, siblings,
mothers and fathers-in-law, sons and daughters-in-law, brothers
and sisters-in-law and anyone (other than domestic employees)
who shares such person's home.
Board of Directors at a glance...
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