Third Amendment to the Premcor Pension Plan (Premcor Inc. and Certain Acquired Employees)

Summary

Premcor Inc. has amended its Pension Plan to allow certain employees acquired from The Williams Company at the Memphis Refinery to count their previous service with The Williams Company toward their vesting in the Premcor Pension Plan. This applies to employees who become part of Premcor before January 1, 2004. The amendment ensures these employees receive credit for their prior service when determining pension eligibility.

EX-10.36 9 dex1036.txt THIRD AMENDMENT TO THE PREMCOR PENSION PLAN Exhibit 10.36 THIRD 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 grant past service for certain acquired employees at the Memphis Refinery; NOW, THEREFORE, Section 4A of the Plan is amended by adding the following to the end thereof: "With respect to an individual who (a) is a Business Employee as defined in the Asset Purchase and Sales Agreement dated November 25, 2002, executed between the Company and The Williams Company and (b) becomes an Employee prior to January 1, 2004, for purposes of determining such Employee's Years of Vesting Service, service with The Williams Company and its controlled group members completed prior to such date shall count as service with the Employer under the Plan." IN WITNESS WHEREOF, the Company has caused this amendment to be executed by a duly authorized officer this 28th day of February, 2003. PREMCOR INC. By: /s/ James R. Voss ----------------- Name: James R. Voss Title: Senior Vice President