exv10w7







Exhibit 10.07




2010 DISTRIBUTION ELECTION FORM

Valero Energy Corporation

Deferred Compensation Plan



	 	 	 	 	 	 
	 	 	 	 	 	 
	 	Payment Election

	 	 	DEFAULT PAYMENT IF NO ELECTION IS MADE:	 
	 	Upon Retirement

	 	 	Fifteen annual installments commencing at date of retirement	 
	 	 	 	 	 	 





							
	 	 
	 	 	 	 	 
	 	I elect that, upon retirement, the value of my Plan account related to deferrals made for the
2010 Plan Year will be paid at the time and in the manner elected below:
	 
	 	 
	 	 	 	 	 
	 	Payment Commencement (choose one):	 
	 	 
	 	 	 	 	 
	 	 

	 	o
	 	As soon as administratively possible following retirement	 
	 	 

	 	 	 	(this is the default if no election is made)	 
	 	 
	 	 	 	 	 
	 	 

	 	o
	 	January 1 after the year of retirement	 
	 	 
	 	 	 	 	 
	 	AND	 
	 	 
	 	 	 	 	 
	 	Form of Distribution (choose one):	 
	 	 
	 	 	 	 	 
	 	 

	 	o
	 	Lump sum payment	 
	 	 
	 	 	 	 	 
	 	 

	 	o
	 	Annual installments for                      years (choose 2 - 15 years)	 
	 	 
	 	 	 	 	 
	 	 	 






	 	 	 	 	 	 
	 	 	 	 	 	 
	 	Payment Election

	 	 	DEFAULT PAYMENT IF NO ELECTION IS MADE:	 
	 	Upon Other Separation

	 	 	Immediate lump sum payable upon separation	 
	 	 	 	 	 	 





	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 
	 	I elect that, upon my separation from employment for a reason other than retirement, the
value of my Plan account related to deferrals made for the 2010 Plan Year will be paid at the
time and in the manner elected below:
	 
	 	 
	 	 	 	 	 
	 	Payment Commencement (choose one):	 
	 	 
	 	 	 	 	 
	 	 

	 	o
	 	As soon as administratively possible following separation	 
	 	 

	 	 	 	(this is the default if no election is made)	 
	 	 
	 	 	 	 	 
	 	 

	 	o
	 	January 1 after the year of separation	 
	 	 
	 	 	 	 	 
	 	AND	 
	 	 
	 	 	 	 	 
	 	Form of Distribution (choose one):	 
	 	 
	 	 	 	 	 
	 	 

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

	 	o
	 	Five annual installments	 
	 	 
	 	 	 	 	 
	 	 	 





«First_Name» «Last_Name»




 









 











Distribution on Specified Date



 




In accordance with Section 6.4 of the Plan, I hereby elect to receive in one lump sum payment my Account derived from deferrals
made during the 2010 Plan Year on the date or dates specified below, or the balance of the Account, if less. Any amounts
distributed pursuant to this election shall immediately reduce my Account accordingly. (The earliest date that can be elected
to receive 2010 deferrals is January 1, 2014.)




	 	 	 
	 	 	Amount of Elective Deferral or
	Specified Date	 	Total Amount of the Account (Whichever is Less)
	 	 	 
	 
	 	 

	 	 	 
	 
	 	 

	 	 	 
	 
	 	 











NOTE: In order to be effective, this form must be completed, signed and returned to Financial
Benefits (San Antonio/Mailstation E1L) on or before December 15, 2009. If your form is not timely
submitted, your Plan deferral will be subject to the default distributions noted above.



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, including
delaying your distributions, in order to comply with legal requirements. Distribution elections
submitted pursuant to the Plan will be governed by the terms and conditions of the Plan and
governing law, and your elections will be subject to modifications made to the Plan in order to
conform to legal requirements.




	 	 	 
	 
	ACKNOWLEDGED AND AGREED:
	 	 
	 
	 
	 	 
	 

	 	 
	Participant’s Signature

	 	Date
	 
	 	 
	 
	«First_Name» «Last_Name»

	 	«Emplid»
	 

	 	 
	Participant’s Name

	 	Participant’s Employee ID Number