EX-10.6 6 ex106-10k2000.txt EXHIBIT 10.6 EXHIBIT 10.6 OCCIDENTAL PETROLEUM CORPORATION 10889 WILSHIRE BOULEVARD LOS ANGELES, CALIFORNIA 90024 (310) 208-8800 DR. RAY R. IRANI CHAIRMAN OF THE BOARD AND CHIEF EXECUTIVE OFFICER November 17, 2000 Donald P. de Brier Executive Vice President and General Counsel Occidental Petroleum Corporation 10889 Wilshire Boulevard Los Angeles, California 90024 Dear Donald: 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/ RAY R. IRANI ---------------------------- Dr. Ray R. Irani Accepted and agreed: /s/ DONALD P. DE BRIER ----------------------------- Donald P. de Brier