Valero Energy Corporation 2006 Deferred Compensation Plan Investment Election Form

Summary

This form allows participants in the Valero Energy Corporation Deferred Compensation Plan to choose how their salary and/or bonus deferrals for 2006 will be allocated among various investment fund options. Participants must indicate their investment choices in 5% increments, ensuring the total equals 100%. The selected allocations will remain in effect until the participant submits a new directive. The form requires the participant's signature and employee information and must be returned by December 16, 2005, if changes are desired for 2006.

EX-10.04 4 d31429exv10w04.htm INVESTMENT ELECTION FORM exv10w04

Exhibit 10.04

ACTION REQUIRED: If changing investment election for 2006, return this form by December 16, 2005.

2006 INVESTMENT ELECTION FORM

VALERO ENERGY CORPORATION

DEFERRED COMPENSATION PLAN

Direction of Investments

The undersigned Participant hereby directs that the measurement of the Participant’s account be determined as if it were invested in the fund options as indicated below.

DEFERRALS OF SALARY AND/OR BONUSES BEGINNING 1/1/2006
WILL BE TREATED AS IF INVESTED AS INDICATED BELOW.

Enter your investment elections: 5% minimum/increments of 5%.
The total of the percentages must equal 100%.
You may invest in any one or more (including all) of the fund options.


___% Dreyfus Appreciation		___% T. Rowe Price Mid-Cap Growth

___% Fidelity Intermediate Gov’t		___% Vanguard Asset Allocation

___% Janus Worldwide		___% Vanguard Growth and Income

___% Liberty — Columbia Income		___% Vanguard Index 500

___% Oakmark		___% Vanguard Index Extended Market

		___% AASelect Funds Money Market Select Fund

I understand that the elections I have chosen on this form shall remain in effect until I make a directive to change.


Participant’s Signature		Date

«First_Name» «Last_Name»		«Emplid»

Participant’s Name		Participant’s Employee ID Number