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EXHIBIT 10.04    
    


2005 DISTRIBUTION ELECTION FORM
VALERO ENERGY CORPORATION

DEFERRED COMPENSATION PLAN



	

	Optional Payment Election

Upon Retirement	 	DEFAULT PAYMENT IF NO ELECTION IS MADE:
 Fifteen annual installments commencing at date of retirement
	






I elect that upon retirement, the value of my Plan account will be paid as soon as administratively possible. I execute this election of my own free will and
with the full understanding of its effect. This election pertains to the existing account balance as well as all future contributions and account activity. It will remain in effect until retirement or
a new election is made. I elect to receive payment(s) at the following time (choose one): 



	o
	As
soon as administratively possible following retirement



	o
	January
1 after the year of retirement 






AND


I
elect to receive payment(s) in the following manner (choose one): 



	o
	Lump
sum



	o
	Five
annual installments



	o
	Ten
annual installments



	o
	Fifteen
annual installments (default payment option if no election is made) 







	






	Optional Payment Election

Upon Termination	 	DEFAULT PAYMENT IF NO ELECTION IS MADE:
 Immediate lump sum payable within 90 days after termination
	






I elect that upon termination, the value of my Plan account will be paid as soon as administratively possible. I execute this election of my own free will and
with the full understanding of its effect. This election pertains to the existing account balance as well as all future contributions and account activity. It will remain in effect until termination
or a new election is made. I elect to receive payment(s) at the following time (choose one): 



	o
	Immediately



	o
	January
1 after the year of termination 




AND


I
elect to receive payment(s) in the following manner (choose one): 



	o
	Lump
sum (default payment option if no election is made)



	o
	Five
annual installments 







	












	

	Distribution on Specified Date
	

In accordance with Section 6.5 of the Plan, I hereby elect to receive in one lump sum payment that portion of my Account derived from deferrals under the Plan (the "Account") to which I am entitled to withdraw, pursuant to the terms of the Plan, on
the date(s) specified below, or the balance of the Account, if less. Any amounts distributed pursuant to this election shall immediately reduce my Account accordingly.
	



Date of Specified Event	

 	



Amount of Elective Deferral or

Total Amount of the Account (Whichever is Less)
	

	
 	


	

	
 	


	

	
 	


	







NOTE: The Company has taken measures to design the Plan in a manner that conforms to current tax law. However, it is possible
that new legislation could affect your distribution elections. Generally, it is intended that distribution elections submitted pursuant to the Plan will be governed by the terms and conditions of the
Plan, and your elections will be subject to modifications made to the Plan to conform with federal legislation or to the terms of another plan if the Company chooses to implement a new plan to conform
to federal legislation. 


ACKNOWLEDGED
AND AGREED:     



	
 Participant's Signature	 	
 Date
	
«First Name» «Last Name»
 Participant's Name	
 	
«Emplid»
 Participant's Employee ID Number













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EXHIBIT 10.04