As the Chief Executive Officer and Chairman at Occidental Petroleum, Ray Irani earned a total compensation of $76,107,010 in 2010, which increased by 142.37% compared to 2009.

Of this total, $1,191,667 was earned as salary, $1,400,000 was received as a bonus, $40,250,000 was awarded as stock, $31,575,000 was awarded from non-equity incentive plan, and $1,690,343 came from all other compensation.

The Stock Awards amount shown includes $29,250,000 attributable to the stock portion of the payout of the 2007 ROEI award. The amount shown also includes the grant date fair values of the 2010 TSRI and RSI awards. The maximum number of Occidental stock and share equivalents that can be issued under the TSRI award is 237,277 shares which, using $84.29, the closing price of Occidental common stock on the New York Stock Exchange on the grant date, would have a value of approximately $20 million.

The Other amount includes $14,700 credited pursuant to the Occidental Petroleum Corporation Savings Plan; $644,766 credited pursuant to the Occidental Petroleum Corporation Supplemental Retirement Plan II described on page 38; $112,084 for life insurance premiums; and $918,793 in the aggregate for personal benefits. Personal benefits include security services ($572,937) and tax preparation and financial planning services ($345,856).

Ray Irani worked with Edward Lowe, William Albrecht, James Lienert, Donald de Brier, and Stephen Chazen at Occidental Petroleum in 2010.

Compensation Data Fiscal 2010 Ends: Dec 31
  • Salary$1,191,667
  • Bonus$1,400,000
  • Stock Awards$40,250,000
  • Non-Equity Incentive$31,575,000
  • Other$1,690,343
  • Total$76,107,010
Occidental Petroleum
Oil & Gas Exploration and Production