0000950134-08-003802 Sample Contracts

SEPARATION AGREEMENT AND RELEASE
Separation Agreement • February 29th, 2008 • Valero Energy Corp/Tx • Petroleum refining • Texas

This Separation Agreement and Release (the “Agreement”) is made and entered into between Gregory C. King (referred to as “Mr. King”), a resident of Bexar County, Texas, and Valero Energy Corporation, a Delaware corporation (“Valero”), as of the 11th day of December, 2007.

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Pursuant to the Valero Energy Corporation Deferred Compensation Plan (the “Plan”):
Elective Deferral Agreement • February 29th, 2008 • Valero Energy Corp/Tx • Petroleum refining

o I hereby elect to defer a portion of my compensation for the period commencing January 1, 2008 and ending December 31, 2008 (the “Plan Year”) as follows:

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