Fourth Amendment to the Premcor Pension Plan

Summary

This amendment to the Premcor Pension Plan, executed by Premcor Inc., grants full vesting of pension benefits to employees whose employment is involuntarily terminated in 2003 due to job function relocations to Greenwich, Connecticut, or reductions in force at specified company locations. The amendment ensures that affected employees' pension accounts become fully vested and nonforfeitable upon termination. The change is formalized by company authorization as of May 30, 2003.

EX-10.2 4 dex102.txt FOURTH AMENDMENT TO PREMCOR PENSION PLAN Exhibit 10.2 FOURTH AMENDMENT TO THE PREMCOR PENSION PLAN WHEREAS, Premcor Inc. ("Company") previously established the Premcor Pension Plan ("Plan"); and WHEREAS, the Company reserved the right to amend the Plan in Section 12 thereof; and WHEREAS, the Company desires to amend the Plan to provide for full vesting for certain employees terminated during reductions in force or due to job-function relocations; NOW, THEREFORE, Section 8A.3 is amended by adding the following sentence to the end thereof: "In addition, the Pension Account of a Participant whose employment with the Employer is involuntarily terminated (1) during 2003 due to the relocation of such Participant's Legal or Wholesale job function from the general offices of the Employer to Greenwich, Connecticut or (2) during 2003 due to the reductions in force at the Employer's general offices, Lima refinery and Port Arthur refinery, shall be 100% vested and nonforfeitable upon such termination of employment." IN WITNESS WHEREOF, the Company has caused this amendment to be executed by a duly authorized officer this 30th day of May, 2003. PREMCOR INC. By /s/ James R. Voss -------------------------- James R. Voss, Senior Vice-President