EX-101 INSTANCE DOCUMENT

 

Exhibit 10.16

 

Agreement between Chevron Corporation and R. Hewitt Pate

 

February 21, 2012

 

Mr. R. Hewitt Pate

Vice President and General Counsel

Chevron Corporation

6001 Bollinger Canyon Road

San Ramon, CA 94583

 

Dear Hew,

 

This letter agreement (“Agreement”) sets forth the agreement between you and Chevron Corporation (the “Company”) and shall be effective on February 21, 2012.

 

If your employment with the Company is terminated for any reason, including retirement, on or after August 1, 2019, you shall be subject to the termination provisions of the Long-Term Incentive Plan of Chevron Corporation (“LTIP”) as if you had 75 points (the sum of your age and years of service) or equivalent termination provisions if current LTIP provisions are modified.

 

In the event that your employment with the Company is terminated by reason of death or disability, this Agreement shall inure to the benefit of your heirs, personal representatives, successors and assigns. Notwithstanding this Agreement, you will continue to be an at-will employee governed by the terms and conditions applicable to similarly situated employees of the Company. This Agreement shall be governed by the law of the State of California. This Agreement is the entire agreement between you and the Company and supersedes any prior agreements between you and the Company, whether written or oral, with respect to the subject matter of this Agreement.

 

By executing this Agreement in the space provided below you agree to the terms and conditions specified herein.

 

Sincerely yours,

/s/JOE W. LAYMON

Joe W. Laymon

 

R. HEWITT PATE

 

 

Date: February 21, 2012