(d)Effective January 1, 2006, amounts allocated to this ESIP-RP are limited to Participants (including Members of the ESIP and USP) whose compensation exceeds the limitation on compensation that may be taken into account with respect to a qualified retirement plan that is imposed by section 401(a)(17) of the Code (the “Section 401(a)(17) Limitation”) and who elect to defer two percent (2%) or more of their Regular Earnings over this limitation to the Deferred Compensation Plan.
(e)In addition, the July 1, 2006 ESIP-RP restatement was intended to incorporate changes necessary to comply with section 409A of the Code, to grandfather the provisions of the ESIP-RP that were in effect as of December 31, 2004, and to adopt certain other transitional rules pursuant to guidance issued with respect to section 409A of the Code.
(f)Effective January 1, 2009, the ESIP-RP was amended and restated in order to comply with the Internal Revenue Service’s final regulations under Section 409A. Because of certain changes to the ESIP’s definition of Regular Earnings effective on or after January 1,
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2008, the ESIP-RP was also amended to continue to include salary deferrals under the Deferred Compensation Plan and exclude awards under the Chevron Incentive Plan (or successor plan) in the compensation used for purposes of this ESIP-RP.
(g)Effective January 1, 2017, the ESIP-RP was amended to replace the definition of Beneficiary and, effective June 1, 2017, to cease accepting domestic relations orders.
(h)Effective January 1, 2018, the ESIP-RP was amended and restated in order to use the closing price of Chevron Stock as reported on the New York Stock Exchange to value transactions in shares of Chevron Stock for purposes of calculating benefits under the ESIP-RP, and to incorporate prior administrative amendments.
(i)Effective August 1, 2024, the ESIP-RP was amended and restated to 新增理賠程序。
(1)Compensated for services by a person other than the Corporation and who, at any time and for any reason, is deemed to be an Employee;
(2)Not on the Payroll of the Corporation and who, at any time and for any reason, is deemed to be an Employee;
(3)A leased employee within the meaning of section 414(n) of the Code, or would be a leased employee but for the period-of-service requirement of section 414(n)(2)(B) of the Code, and who is providing services to the Corporation;
(4)If, during any period, the Corporation has not treated an individual as an Employee and, for that reason, has not withheld employment taxes with respect to that individual, then that individual shall not be treated as an Employee for that period, even in the event that the individual is determined, retroactively, to have been an Employee during all or any portion of that period.
(r)“ERISA” means the federal Employee Retirement Income Security Act of 1974, as amended.
(s)“ESIP” means the Chevron Corporation Employee Savings Investment Plan.
(A)Under a pension plan qualified under section 401(a) of the Code (including any amount available as a plan loan); or
(B)Available due to the Unforeseeable Emergency under another nonqualified deferred compensation plan within the meaning of section 409A of the Code (or would be such a nonqualified deferred compensation plan if it was not grandfathered under the effective date provisions of section 409A of the Code).
(3)儘管如此 Section V.(c), the date the Committee approves the request for such an Unforeseeable Emergency distribution shall be used for purposes of determining the number of Stock Units credited to a Participant’s Account, as well as the valuation of these Stock Units; provided, however, that any earnings credited under Section IV.(b) during the Quarter in which the Committee approves the request shall be deemed to be credited as of such date if necessary to satisfy the Unforeseeable Emergency.
(g)Cashout Limit. Notwithstanding any other provision of this Section V., if a Participant’s Plan Benefit upon Separation from Service is less than $50,000 (not including the Participant’s Grandfathered Amount) as of the first business day of the first Quarter that is at least 12 months following the date the Participant incurs a Separation from Service, then such Plan Benefit shall be distributed in a lump sum during such Quarter.
(e)No Assignment of Property Rights. Except as may be required by applicable law, or as is described below relating to domestic relations orders, no Plan Benefit or property interest in this ESIP-RP may be assigned (either at law or in equity), alienated, anticipated or subject to attachment, bankruptcy, garnishment, levy, execution or other legal or equitable process. Any act in violation of this Section VII.(e) shall be void. Notwithstanding the foregoing, the creation, assignment or recognition of a right to all or any portion of a Participant’s Plan Benefit hereunder pursuant to a domestic relations order (as defined in section 414(p)(1)(B) of the Code) that is valid under applicable state law and not preempted by ERISA shall not constitute a violation of this Section VII.(e). Effective June 1, 2017, the Corporation shall no longer accept domestic relations orders under the Plan.
(f)Effect of Change in Capitalization on Participant’s Accounts. In the event of a stock split, stock dividend or other change in capitalization affecting Chevron Stock, an appropriate number of Stock Units shall be substituted for, or added to, each Stock Unit then credited on behalf of each Participant's Account, and such substituted or added Stock Unit shall be subject to the same terms and conditions as the original Stock Unit.
(g)管理. The ESIP-RP shall be administered by the Committee. No member of the Committee shall become a Participant in the ESIP-RP. The Committee shall make such rules, interpretations and computations as it may deem appropriate. The Committee shall have sole discretion to interpret the terms of the ESIP-RP, make any factual findings, and make any decision with respect to the ESIP-RP, including (without limitation) any determination of eligibility to participate in the ESIP-RP, eligibility for a Plan Benefit, and the amount of such Plan Benefit. The Committee’s determinations shall be conclusive and binding on all persons. Subject to the requirements of applicable law, the Committee may designate other persons to
(d)ESIP修復福利股份參與者的每個股份單位在變更控制後應立即轉換為一個金額,該金額等於(i)在構成或導致變更控制的交易(或一系列交易)中支付給股份持有人的雪佛龍股票“股份”的每股最高價格,或(ii)紐約證券交易所組合交易報告指定日期前九十天內所報告的股份的最高收盤價。此後,假定收益將被添加到參與者計劃福利的未付金額中,就好像這些金額被投資於Vanguard Prime Money Market Fund中。如果由於任何原因,該基金停止存在,則基於與該基金接替者相關的收益率來確定收益。
(e)Limitations on Filing Lawsuits. Any claimant who wishes to bring civil action (whether in law, in equity or otherwise) in connection with a claim for benefits under the ESIP-RP must first complete each step of the claims procedures set forth in this Section X, and in particular Subsection (d) above. In addition, any claimant who wishes to bring a civil action after having exhausted the claims procedures set forth in this Section X must bring such civil action within the earlier of (i) one year of a claimant’s receipt of an adverse benefit
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determination described in Section X(c)(iii), or (ii) two years after the last day of the month for which the claimant first receives payment. With respect to Participants or Beneficiaries who have received payment or are in pay status on August 1, 2024, this Section X(e) shall be effective as of January 1, 2025.
(f)生效日期. Unless otherwise provided, the claims and review procedures described in this Section X are effective as of August 1, 2024.
SECTION XI.核准.
Approved by the Committee at a meeting held on July 29, 2024 and effective August 1, 2024 and executed pursuant to the Board’s delegation.
第三部分。 股票單位的估值/分期付款的決定將劃入股票單位的任何賬戶的現金支付金額確定為,將該等股票單位除以剩餘待支付的年付款數量,然後將所得股票單位數量乘以現金金額:(i) 在2018年1月1日之前生效時,根據ESIP中Chevron股票基金的平均每日交易價格(以ESIP-RP下的付款日期所在季度的首個工作日為基準);或 (ii) 在2018年1月1日或之後生效時,根據紐約證券交易所報告的Chevron股票價格(以ESIP-RP下的付款日期所在季度的首個工作日收盤價在紐約證券交易所報告為基準)來將所得股票單位數量轉換為現金金額。
第四部分。 累積盈餘就Chevron Stock領取的現金股息支付日期而言,每位參與者的帳戶將根據設於除權日前一日的該帳戶內的股票單位乘以該股息的每股金額來確定獲得的股票單位數,並再根據結果金額除以:(i) 自2018年1月1日前有效,與在ESIP內Chevron股票基金中將股息再投資相關獲得的平均每股價;或 (ii) 自2018年1月1日後有效,在支付日期關盤時紐約證券交易所報告的Chevron Stock價格。