As the President and Chief Operating Officer at Occidental Petroleum, Stephen Chazen earned a total compensation of $38,080,344 in 2010, which increased by 182.38% compared to 2009.

Of this total, $766,667 was earned as salary, $800,000 was received as a bonus, $21,800,000 was awarded as stock, $14,395,000 was awarded from non-equity incentive plan, and $318,677 came from all other compensation.

The Stock Awards amount shown includes $13,000,000 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 189,821 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 $16 million.

The Other amount includes $14,700 credited pursuant to the Savings Plan; $292,229 credited pursuant to the Supplemental Retirement Plan II; and $11,748 for life insurance premiums.

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

Compensation Data Fiscal 2010 Ends: Dec 31
  • Salary$766,667
  • Bonus$800,000
  • Stock Awards$21,800,000
  • Non-Equity Incentive$14,395,000
  • Other$318,677
  • Total$38,080,344
Occidental Petroleum
Oil & Gas Exploration and Production