Document:

EX-4.2

 Exhibit 4.2 
  

 
  

FIRST SUPPLEMENTAL INDENTURE 

AMONG 
 CHEVRON U.S.A. INC.
As Issuer 
 and 

CHEVRON CORPORATION, As Guarantor 

and 
 DEUTSCHE BANK TRUST
COMPANY AMERICAS, As Trustee 
 Dated as of August 12, 2020 

 
  

 

 TABLE OF CONTENTS 

 

							
	 Article One DEFINITIONS 
	  	 	1	 
			
	 Section 1.01
	  	Definitions	  	 	1	 
			
	 Section 1.02
	  	Other Definitions	  	 	8	 
		
	 Article Two TERMS OF THE NOTES
	  	 	8	 
			
	 Section 2.01
	  	Each of the 2022 Fixed Rate Notes, the 2022 Floating Rate Notes, the 2023 Fixed Rate Notes, the 2023 Floating Rate Notes, the 2025 Fixed Rate Notes, the 2027 Fixed Rate Notes, and the 2050 Fixed Rate Notes Constitutes a series
of Securities	  	 	8	 
	 Section 2.02
	  	Terms and Provisions of the Notes	  	 	8	 
		
	 Article Three MISCELLANEOUS PROVISIONS 
	  	 	12	 
			
	 Section 3.01
	  	Provisions of the Indenture	  	 	12	 
	 Section 3.02
	  	Calculation Agent 	  	 	12	 
	 Section 3.03
	  	Separability of Invalid Provisions	  	 	12	 
	 Section 3.04
	  	Execution in Counterparts	  	 	12	 
	 Section 3.05
	  	Trustee’s Disclaimer	  	 	12	 
	 Section 3.06
	  	Effectiveness	  	 	13	 
	 Section 3.07
	  	Tax Matters	  	 	13	 

 Signatures 
 Exhibits

 Exhibit A – Form of 2022 Fixed Rate Note 
 Exhibit
B – Form of 2022 Floating Rate Note 
 Exhibit C – Form of 2023 Fixed Rate Note 

Exhibit D – Form of 2023 Floating Rate Note 
 Exhibit E
– Form of 2025 Fixed Rate Note 
 Exhibit F – Form of 2027 Fixed Rate Note 

Exhibit G – Form of 2050 Fixed Rate Note 

 FIRST SUPPLEMENTAL INDENTURE 

THIS FIRST SUPPLEMENTAL INDENTURE, dated as of August 12, 2020, among CHEVRON U.S.A. INC., a Pennsylvania corporation, as
Issuer (the “Company”), CHEVRON CORPORATION, a Delaware corporation, as Guarantor (“Guarantor”), and DEUTSCHE BANK TRUST COMPANY AMERICAS, a New York State banking corporation, as Trustee (the “Trustee”).

 W I T N E S S E T H: 

WHEREAS, the Company, the Guarantor and the Trustee have entered into that certain Indenture dated as of August 12, 2020 (the
“Indenture”); 
 WHEREAS, pursuant to the provisions of Section 3.1 of the Indenture, the Company wishes to enter into
this First Supplemental Indenture to establish the terms and provisions of five series of Securities (as defined in the Indenture); 

WHEREAS, in compliance with the requirements of the Indenture, each of the Company and Guarantor has duly authorized the execution and
delivery of this First Supplemental Indenture, and all things necessary have been done to make this First Supplemental Indenture a valid agreement of the Company and the Guarantor in accordance with its terms: 

NOW, THEREFORE, THIS FIRST SUPPLEMENTAL INDENTURE WITNESSETH: 

That in consideration of the premises, the Company and the Guarantor covenant and agree with the Trustee, for the equal and proportionate
benefit of the respective holders from time to time of the Securities, as follows: 
 Article One 

DEFINITIONS 

Section 1.01 Definitions. The terms defined in this Section 1.01 shall, for all purposes of the
Indenture and this First Supplemental Indenture have the meanings herein specified, unless the context clearly otherwise requires. 
  

	 	(A)	 2022 Fixed Rate Notes 

The term “2022 Fixed Rate Notes” shall mean the $400,000,000 in aggregate principal amount 0.333% Notes Due 2022. 

 

	 	(B)	 2022 Floating Rate Notes 

The term “2022 Floating Rate Notes” shall mean the $350,000,000 in aggregate principal amount Floating Rate Notes Due 2022. 

 

	 	(C)	 2022 Notes 

The term “2022 Notes” shall mean the 2022 Floating Rate Notes and the 2022 Fixed Rate Notes. 

 

	 	(D)	 2023 Fixed Rate Notes 

The term “2023 Fixed Rate Notes” shall mean the $500,000,000 in aggregate principal amount 0.426% Notes Due 2023. 

  
 1 

	 	(E)	 2023 Floating Rate Notes 

The term “2023 Floating Rate Notes” shall mean the $500,000,000 in aggregate principal amount Floating Rate Notes Due 2023. 

 

	 	(F)	 2023 Notes 

The term “2023 Notes” shall mean the 2023 Floating Rate Notes and the 2023 Fixed Rate Notes. 

 

	 	(G)	 2025 Fixed Rate Notes 

The term “2025 Fixed Rate Notes” shall mean the $750,000,000 in aggregate principal amount 0.687% Notes Due 2025. 

 

	 	(H)	 2025 Notes 

The term “2025 Notes” shall mean the 2025 Fixed Rate Notes. 

 

	 	(I)	 2027 Fixed Rate Notes 

The term “2027 Fixed Rate Notes” shall mean the $750,000,000 in aggregate principal amount 1.018% Notes Due 2027. 

 

	 	(J)	 2027 Notes 

The term “2027 Notes” shall mean the 2027 Fixed Rate Notes. 

 

	 	(K)	 2050 Fixed Rate Notes 

The term “2050 Fixed Rate Notes” shall mean the $750,000,000 in aggregate principal amount 2.343% Notes Due 2050. 

 

	 	(L)	 2050 Notes 

The term “2050 Notes” shall mean the 2050 Fixed Rate Notes. 

 

	 	(M)	 Adjusted Treasury Rate 

The term “Adjusted Treasury Rate” shall mean (1) the arithmetic mean of the yields under the heading “Week Ending”
published in the Statistical Release most recently published prior to the date of determination under the caption “Treasury Constant Maturities” for the maturity (rounded to the nearest month) corresponding to the remaining term, as of the
Redemption Date, of the Notes being redeemed plus (2) 0.05% for the 2022 Fixed Rate Notes, 0.05% for the 2023 Fixed Rate Notes, 0.10% for the 2025 Fixed Rate Notes, 0.10% for the 2027 Fixed Rate Notes, and 0.20% for the 2050 Fixed Rate Notes.
If no maturity set forth under such heading exactly corresponds to the remaining term of a series of Notes being redeemed, yields for the two published maturities most closely corresponding to the remaining term of the series of Notes being redeemed
will be calculated as described in the preceding sentence, and the Adjusted Treasury Rate will be interpolated or extrapolated from such yields on a straight-line basis, rounding each of the relevant periods to the nearest month. The Adjusted
Treasury Rate is to be determined on the third Business Day preceding the applicable Redemption Date. 
  

	 	(N)	 Benchmark 

The term “Benchmark” means, initially, three-month U.S. dollar LIBOR; provided that if a Benchmark Transition Event and its
related Benchmark Replacement Date have occurred with respect to three month U.S. dollar LIBOR or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement. 

  
 2 

	 	(O)	 Benchmark Replacement 

The term “Benchmark Replacement” means the Interpolated Benchmark with respect to the then-current Benchmark, plus the Benchmark
Replacement Adjustment for such Benchmark; provided that if the Company or its Designee cannot determine the Interpolated Benchmark as of the Benchmark Replacement Date, then “Benchmark Replacement” means the first alternative set
forth in the order below that can be determined by the Company or its Designee as of the Benchmark Replacement Date: 
  

	 	(1)	 the sum of (a) Term SOFR and (b) the Benchmark Replacement Adjustment; 

 

	 	(2)	 the sum of (a) Compounded SOFR and (b) the Benchmark Replacement Adjustment; 

 

	 	(3)	 the sum of (a) the alternate rate of interest that has been selected or recommended by the Relevant
Governmental Body as the replacement for the then-current Benchmark for the applicable Corresponding Tenor and (b) the Benchmark Replacement Adjustment; 

  

	 	(4)	 the sum of (a) the ISDA Fallback Rate and (b) the Benchmark Replacement Adjustment; and

  

	 	(5)	 the sum of (a) the alternate rate of interest that has been selected by the Company or its Designee as the
replacement for the then-current Benchmark for the applicable Corresponding Tenor giving due consideration to any industry-accepted rate of interest as a replacement for the then-current Benchmark for U.S. dollar-denominated floating rate notes at
such time and (b) the Benchmark Replacement Adjustment. 

  

	 	(P)	 Benchmark Replacement Adjustment 

The term “Benchmark Replacement Adjustment” means the first alternative set forth in the order below that can be determined by the
Company or its Designee as of the Benchmark Replacement Date: 
  

	 	(1)	 the spread adjustment, or method for calculating or determining such spread adjustment (which may be a positive
or negative value or zero), that has been selected or recommended by the Relevant Governmental Body for the applicable Unadjusted Benchmark Replacement; 

  

	 	(2)	 if the applicable Unadjusted Benchmark Replacement is equivalent to the ISDA Fallback Rate, then the ISDA
Fallback Adjustment; and 

  

	 	(3)	 the spread adjustment (which may be a positive or negative value or zero) that has been selected by the Company
or its Designee giving due consideration to any industry-accepted spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the then-current Benchmark with the applicable Unadjusted Benchmark
Replacement for U.S. dollar-denominated floating rate notes at such time. 

  

	 	(Q)	 Benchmark Replacement Conforming Changes 

The term “Benchmark Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative
or operational changes (including changes to the definition of “interest period,” timing and frequency of determining rates and making payments of interest, rounding of amounts or tenors, changes to the definition of “Corresponding
Tenor” solely when such tenor is longer than the interest period and other administrative matters) that the Company or its Designee decide may be appropriate to reflect the adoption of such Benchmark Replacement in a manner substantially
consistent with market practice (or, if the Company or its Designee decide that adoption of any portion of such market practice is not administratively feasible or if the Company or its Designee determine that no market practice for use of the
Benchmark Replacement exists, in such other manner as the Company or its Designee determine is reasonably necessary). 

  
 3 

	 	(R)	 Benchmark Replacement Date 

The term “Benchmark Replacement Date” means the earliest to occur of the following events with respect to the then-current Benchmark:

  

	 	(1)	 in the case of clause (1) or (2) of the definition of “Benchmark Transition Event,” the
later of (a) the date of the public statement or publication of information referenced therein and (b) the date on which the administrator of the Benchmark permanently or indefinitely ceases to provide the Benchmark; and

  

	 	(2)	 in the case of clause (3) of the definition of “Benchmark Transition Event,” the date of the
public statement or publication of information referenced therein. 

 For the avoidance of doubt, if the event giving rise to the
Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination. 

(S) Benchmark Replacement Transition Event 

The term “Benchmark Transition Event” means the occurrence of one or more of the following events with respect to the then-current
Benchmark: 
  

	 	(1)	 a public statement or publication of information by or on behalf of the administrator of the Benchmark
announcing that such administrator has ceased or will cease to provide the Benchmark, permanently or indefinitely; provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide
the Benchmark; 

  

	 	(2)	 a public statement or publication of information by the regulatory supervisor for the administrator of the
Benchmark, the central bank for the currency of the Benchmark, an insolvency official with jurisdiction over the administrator for the Benchmark, a resolution authority with jurisdiction over the administrator for the Benchmark or a court or an
entity with similar insolvency or resolution authority over the administrator for the Benchmark, which states that the administrator of the Benchmark has ceased or will cease to provide the Benchmark permanently or indefinitely; provided
that, at the time of such statement or publication, there is no successor administrator that will continue to provide the Benchmark; or 

(3) a public statement or publication of information by the regulatory supervisor for the administrator of the Benchmark announcing that the
Benchmark is no longer representative. 
  

	 	(T)	 Blanket Issuer Letter of Representations 

The term “Blanket Issuer Letter of Representations” shall mean the Blanket Issuer Letter of Representations, dated August 4,
2020, executed by and between the Company and The Depository Trust Company. 
  

	 	(U)	 Calculation Agent 

The term “Calculation Agent” shall mean Deutsche Bank Trust Company Americas, until a successor replaces it pursuant to the
applicable provisions of the Indenture and, thereafter, shall mean such successor. 
  

	 	(V)	 Compounded SOFR 

The term “Compounded SOFR” means the compounded average of SOFRs for the applicable Corresponding Tenor, with the rate, or
methodology for this rate, and conventions for this rate being established by the Company or its Designee in accordance with: 

  
 4 

	 	(1)	 the rate, or methodology for this rate, and conventions for this rate selected or recommended by the Relevant
Governmental Body for determining compounded SOFR; provided that: 

  

	 	(2)	 if and to the extent that the Company or its Designee determine that Compounded SOFR cannot be determined in
accordance with clause (1) above, then the rate, or methodology for this rate, and conventions for this rate that have been selected by the Company or its Designee giving due consideration to any industry-accepted market practice for U.S.
dollar-denominated floating rate notes at such time. 

 For the avoidance of doubt, the calculation of Compounded SOFR shall exclude the
Benchmark Replacement Adjustment and the margin specified in the definition of LIBOR above. 
  

	 	(W)	 Corresponding Tenor 

The term “Corresponding Tenor” with respect to a Benchmark Replacement means a tenor (including overnight) having approximately the
same length (disregarding business day adjustment) as the applicable tenor for the then-current Benchmark. 
  

	 	(X)	 Designee 

The term “Designee” means the designee of the Company, which may be the Calculation Agent (only if the Calculation Agent is not the
Trustee), a successor calculation agent, or other designee of the Company. 
  

	 	(Y)	 First Supplemental Indenture 

The term “First Supplemental Indenture” shall mean this First Supplemental Indenture, dated as of August 12, 2020, among the
Company, the Guarantor and the Trustee, as such is originally executed, or as it may from time to time be supplemented, modified or amended, as provided herein and in the Indenture. 

 

	 	(Z)	 Fixed Rate Notes 

The term “Fixed Rate Notes” shall mean the 2022 Fixed Rate Notes, the 2023 Fixed Rate Notes, the 2025 Fixed Rate Notes, the 2027
Fixed Rate Notes, and the 2050 Fixed Rate Notes. 
  

	 	(AA)	 Floating Rate Notes 

The term “Floating Rate Notes” shall mean the 2022 Floating Rate Notes and the 2023 Floating Rate Notes. 

 

	 	(BB)	 Indenture 

The term “Indenture” shall mean the Indenture, dated as of August 12, 2020, among the Company, the Guarantor and the Trustee,
as it may from time to time hereafter be further supplemented, modified or amended, as provided in the Indenture. 
  

	 	(CC)	 Interest Determination Date 

The term “Interest Determination Date” for the Floating Rate Notes shall mean, with respect to the initial Interest Period,
August 10, 2020, and for each subsequent Interest Period, the second London Business Day preceding the first day of such Interest Period. 
  

	 	(DD)	 Interest Payment Dates 

The term “Interest Payment Dates” shall mean (i) each August 12 and February 12, commencing February 12, 2021,
with respect to the 2022, 2025, 2027, and 2050 Fixed Rate Notes, (ii) each August 11 and February 11, commencing February 11, 2021, with respect to the 2023 Fixed Rate Notes, (iii) each February 12, May 12,
August 12 and November 12, commencing November 12, 2020, with respect to the 2022 Floating Rate Notes and (iv) each February 11, May 11, August 11 and November 11, commencing November 11,

  
 5 

 
2020, with respect to the 2023 Floating Rate Notes. If any Interest Payment Date for a series of Floating Rate Notes falls on a date that is not a Business Day, the applicable interest payment
will be made on the next Business Day, except that if that Business Day is in the immediately succeeding calendar month, the interest payment will be made on the next preceding Business Day, in each case with interest accruing to the applicable
Interest Payment Date as so adjusted. If any interest payment date for a series of Fixed Rate Notes falls on a date that is not a Business Day, the applicable interest payment will be made on the next Business Day, and no interest shall accrue on
the amount of interest due on that interest payment date for the period from and after such interest payment date to the next Business Day. 
  

	 	(EE)	 Interest Period 

The term “Interest Period” shall mean for each series of Floating Rate Notes the period commencing on the applicable Interest
Payment Date (or, in the case of the initial Interest Period, commencing on August 12, 2020) and ending on the day preceding the next Interest Payment Date. The initial Interest Period for the 2022 Floating Rate Notes is August 12, 2020
through November 11, 2020. The initial Interest Period for the 2023 Floating Rate Notes is August 12, 2020 through November 10, 2020. 
  

	 	(FF)	 Interest Reset Date 

The term “Interest Reset Date” shall mean for each series of Floating Rate Notes, the first day of each Interest Period other than
the initial Interest Period. 
  

	 	(GG)	 Interpolated Benchmark 

The term “Interpolated Benchmark” with respect to the Benchmark means the rate determined for the Corresponding Tenor by
interpolating on a linear basis between (1) the Benchmark for the longest period (for which the Benchmark is available) that is shorter than the Corresponding Tenor and (2) the Benchmark for the shortest period (for which the Benchmark is
available) that is longer than the Corresponding Tenor. 
  

	 	(HH)	 ISDA Definitions 

The term “ISDA Definitions” means the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc.
or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time. 
  

	 	(II)	 ISDA Fallback Adjustment 

The term “ISDA Fallback Adjustment” means the spread adjustment (which may be a positive or negative value or zero) that would apply
for derivatives transactions referencing the ISDA Definitions to be determined upon the occurrence of an index cessation event with respect to the Benchmark for the applicable tenor. 

 

	 	(JJ)	 ISDA Fallback Rate 

The term “ISDA Fallback Rate” means the rate that would apply for derivatives transactions referencing the ISDA Definitions to be
effective upon the occurrence of an index cessation date with respect to the Benchmark for the applicable tenor, excluding the applicable ISDA Fallback Adjustment. 
  

	 	(KK)	 LIBOR 

Subject to the Benchmark Transition Provisions (as defined below), “LIBOR” will be determined by the Calculation Agent in accordance
with the following provisions: 
 (i) With respect to any Interest Determination Date, LIBOR will be the rate for deposits in United States
dollars having a maturity of three months commencing on the first day of the applicable Interest Period that appears on Reuters Screen LIBOR01 Page as of 11:00 a.m., London time, on that Interest Determination Date. If no rate appears, then LIBOR,
in respect of that Interest Determination Date, will be determined in accordance with the provisions described in (ii) below. 

  
 6 

 (ii) With respect to an Interest Determination Date on which no rate appears on Reuters
Screen LIBOR01 Page, as specified in (i) above, the Calculation Agent will request the principal London offices of each of four major reference banks in the London interbank market, as selected by the Company, to provide the Calculation Agent
with its offered quotation for deposits in United States dollars for the period of three months, commencing on the first day of the applicable Interest Period, to prime banks in the London interbank market at approximately 11:00 a.m., London time,
on that Interest Determination Date and in a principal amount that is representative for a single transaction in United States dollars in that market at that time. If at least two quotations are provided, then LIBOR on that Interest Determination
Date will be the arithmetic mean of those quotations. If fewer than two quotations are provided, then LIBOR on the Interest Determination Date will be the arithmetic mean of the rates quoted at approximately 11:00 a.m., in The City of New York, on
the Interest Determination Date by three major banks in The City of New York selected by the Company for loans in United States dollars to leading European banks, having a three-month maturity and in a principal amount that is representative for a
single transaction in United States dollars in that market at that time; provided that if the banks selected by the Company are not providing quotations in the manner described by this sentence, LIBOR will be the same as the rate determined for the
immediately preceding Interest Reset Date or if there is no immediately preceding Interest Reset Date, LIBOR will be the same as the rate determined for the initial Interest Period. With respect to each Determination Date on which the Calculation
Agent, in consultation with the Company, calculates LIBOR using quotations from reference banks, upon the receipt of such quotations the Calculation Agent shall notify the Company of the identity of each such reference bank and the quotation
provided by each such reference bank. 
  

	 	(LL)	 London Business Day 

The term “London Business Day” shall mean any day on which dealings in United States dollars are transacted on the London interbank
market. 
  

	 	(MM)	 Notes 

The term “Notes” shall mean the 2022 Fixed Rate Notes, the 2022 Floating Rate Notes, the 2023 Fixed Rate Notes, the 2023 Floating
Rate Notes, the 2025 Fixed Rate Notes, the 2027 Fixed Rate Notes, and the 2050 Fixed Rate Notes. 
  

	 	(NN)	 Reference Time 

The term “Reference Time” with respect to any determination of the Benchmark means (1) if the Benchmark is three-month U.S.
dollar LIBOR, 11:00 a.m. (London time) on the day that is two London banking days preceding the date of such determination, and (2) if the Benchmark is not three-month U.S. dollar LIBOR, the time determined by the Company or its Designee in
accordance with the Benchmark Replacement Conforming Changes. 
  

	 	(OO)	 Relevant Governmental Body 

The term “Relevant Governmental Body” means the Federal Reserve Board and/or the NY Federal Reserve, or a committee officially
endorsed or convened by the Federal Reserve Board and/or the NY Federal Reserve or any successor thereto. 
  

	 	(PP)	 Reuters Screen LIBOR01 Page 

The term “Reuters Screen LIBOR01 Page” shall mean the display designated on page “LIBOR01” on Reuters (or such other page
as may replace the LIBOR01 page on that service or any successor service for the purpose of displaying London interbank offered rates for U.S. dollar deposits of major banks). 
  

	 	(QQ)	 SOFR 

The term “SOFR” with respect to any day means the secured overnight financing rate published for such day by the NY Federal Reserve,
as the administrator of the benchmark, or a successor administrator, on the website of the NY Federal Reserve at http://www.newyorkfed.org, or any successor source. 

  
 7 

	 	(RR)	 Statistical Release 

The term “Statistical Release” shall mean the statistical release designation “H.15” or any successor publication which is
published weekly by the Federal Reserve System and which establishes yields on actively-traded United States government securities adjusted to constant maturities, or, if such statistical release is not published at the time of any determination
under the terms of the Notes, then such other reasonably comparable index as the Company shall designate. 
  

	 	(SS)	 Term SOFR 

The term “Term SOFR” means the forward-looking term rate for the applicable Corresponding Tenor based on SOFR that has been selected
or recommended by the Relevant Governmental Body. 
  

	 	(TT)	 Trustee 

The term “Trustee” shall mean Deutsche Bank Trust Company Americas, until a successor replaces it pursuant to the applicable
provisions of the Indenture and, thereafter, shall mean such successor. 
  

	 	(UU)	 Unadjusted Benchmark Replacement 

The term “Unadjusted Benchmark Replacement” means the Benchmark Replacement, excluding the Benchmark Replacement Adjustment. 

Section 1.02 Other Definitions. All of the terms appearing herein shall be defined as the same are now
defined under the provisions of the Indenture, except when expressly herein or otherwise defined. 
 Article Two 

TERMS OF THE NOTES 

Section 2.01 Each of the 2022 Fixed Rate Notes, the 2022 Floating Rate Notes, the 2023 Fixed Rate Notes, the 2023
Floating Rate Notes, the 2025 Fixed Rate Notes, the 2027 Fixed Rate Notes, and the 2050 Fixed Rate Notes Constitutes a series of Securities. Each of the 2022 Fixed Rate Notes, the 2022 Floating Rate Notes, the 2023 Fixed Rate Notes, the
2023 Floating Rate Notes, the 2025 Fixed Rate Notes, the 2027 Fixed Rate Notes, and the 2050 Fixed Rate Notes are hereby authorized to be issued under the Indenture as a series of Securities. The 2022 Fixed Rate Notes shall be in the aggregate
principal amount of U.S.$400,000,000. The 2022 Floating Rate Notes shall be in the aggregate principal amount of U.S.$350,000,000. The 2023 Fixed Rate Notes shall be in the aggregate principal amount of U.S.$500,000,000. The 2023 Floating Rate Notes
shall be in the aggregate principal amount of U.S.$500,000,000. The 2025 Fixed Rate Notes shall be in the aggregate principal amount of U.S.$750,000,000. The 2027 Fixed Rate Notes shall be in the aggregate principal amount of U.S.$750,000,000. The
2050 Fixed Rate Notes shall be in the aggregate principal amount of U.S.$750,000,000. 
 Section 2.02 Terms and
Provisions of the Notes. The Notes shall be subject to the terms and provisions hereinafter set forth: 
  

	 	(A)	 The 2022 Fixed Rate Notes shall be designated as the 0.333% Notes Due 2022. The 2022 Floating Rate Notes shall
be designated as the Floating Rate Notes Due 2022. The 2023 Fixed Rate Notes shall be designated as the 0.426% Notes Due 2023. The 2023 Floating Rate Notes shall be designated as the Floating Rate Notes Due 2023. The 2025 Fixed Rate Notes shall be
designated as the 0.687% Notes Due 2025. The 2027 Fixed Rate Notes shall be designated as the 1.018% Notes Due 2027. The 2050 Fixed Rate Notes shall be designated as the 2.343% Notes Due 2050. 

 

	 	(B)	 The Notes shall bear interest on the unpaid principal amount thereof from August 12, 2020.

  
 8 

	 	(C)	 The 2022 Notes shall mature on August 12, 2022. The 2023 Notes shall mature on August 11, 2023. The
2025 Notes shall mature on August 12, 2025. The 2027 Notes shall mature on August 12, 2027. The 2050 Notes shall mature on August 12, 2050. 

  

	 	(D)	 The 2022 Fixed Rate Notes shall bear interest at the rate of 0.333% per annum, payable on February 12,
2021 and on each August 12 and February 12 thereafter. The 2023 Fixed Rate Notes shall bear interest at the rate of 0.426% per annum, payable on February 11, 2021 and on each August 11 and February 11 thereafter. The 2025
Fixed Rate Notes shall bear interest at the rate of 0.687% per annum, payable on February 12, 2021 and on each August 12 and February 12 thereafter. The 2027 Fixed Rate Notes shall bear interest at the rate of 1.018% per annum,
payable on February 12, 2021 and on each August 12, and February 12 thereafter. The 2050 Fixed Rate Notes shall bear interest at the rate of 2.343% per annum, payable on February 12, 2021 and on each August 12 and
February 12 thereafter. 

  

	 	(E)	 The Floating Rate Notes shall bear interest at a variable rate from August 12, 2020. The interest rate for
the 2022 Floating Rate Notes for a particular Interest Period will be a per annum rate equal to LIBOR as determined on the applicable Interest Determination Date as determined by the Calculation Agent, plus 0.11%. The interest rate for the 2023
Floating Rate Notes for a particular Interest Period will be a per annum rate equal to LIBOR as determined on the applicable Interest Determination Date as determined by the Calculation Agent, plus 0.20%. The interest rate on the Floating Rate Notes
for each Interest Period shall be reset (or in the case of the initial Interest Period, set) on each Interest Reset Date. Additionally, the interest rate on the floating rate notes will in no event be lower than zero. 

Notwithstanding the foregoing paragraph, if the Company or its Designee determine on or prior to the relevant Interest Determination Date that
a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to the then-current Benchmark, then (i) the Company shall promptly provide written notice of such determination to the Calculation Agent and
(ii) the provisions set forth below under the heading “Effect of Benchmark Transition Event” (the “Benchmark Transition Provisions”) will thereafter apply to all determinations, calculations and quotations made or obtained
for the purposes of calculating the rate and amount of interest payable on the Floating Rate Notes during a relevant Interest Period. In accordance with the benchmark transition provisions, after a Benchmark Transition Event and its related
Benchmark Replacement Date have occurred, the amount of interest that will be payable for each Interest Period on the Floating Rate Notes will be a rate per annum equal to the sum of the Benchmark Replacement and the margin of 0.11% for the 2022
Floating Rate Notes and 0.20% for the 2023 Floating Rate Notes, as determined by the Company or its Designee provided, however, that the minimum interest rate on the Floating Rate Notes shall not be less than 0.000%. 

However, if the Company or its Designee determine that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred
with respect to the then-current Benchmark, but for any reason the Benchmark Replacement has not been determined as of the relevant Interest Determination Date, the interest rate for the applicable Interest Period will be equal to the interest rate
on the last Interest Determination Date for the Floating Rate Notes, as determined by the Company or its Designee. 
 All percentages
resulting from any calculation of any interest rate for the Floating Rate Notes will be rounded, if necessary, to the nearest one hundred thousandth of a percentage point, with five one-millionths of a
percentage point being rounded upwards (e.g., 8.986865% (or 0.08986865) being rounded to 8.98687% (or 0.0898687)) and all dollar amounts used in or resulting from such calculations will be rounded to the nearest cent (with one-half cent being rounded upwards). 
 The interest rate on the Floating Rate Notes will in no event be
higher than the maximum rate permitted by New York law as the same may be modified by United States laws of general application. Additionally, the interest rate on the Floating Rate Notes will in no event be lower than zero. 

  
 9 

 The Calculation Agent will, upon the request of any holder of the Floating Rate Notes,
provide the interest rate then in effect with respect to the Floating Rate Notes and, if it has been determined, the interest rate to be in effect for the next Interest Period. The Calculation Agent shall calculate the interest rate in accordance
with the foregoing and shall notify the Trustee or paying agent of such interest rate. All calculations of the Calculation Agent, in the absence of manifest error, shall be conclusive for all purposes and binding on the Company and holders of the
Floating Rate Notes and neither the Trustee nor any paying agent shall have the duty to verify determinations of interest rates made by the Calculation Agent. 

Effect of Benchmark Transition Event: 

Benchmark Replacement. If the Company or its Designee determine that a Benchmark Transition Event and its related Benchmark Replacement
Date have occurred prior to the Reference Time in respect of any determination of the Benchmark on any date, the Benchmark Replacement will replace the then-current Benchmark for all purposes relating to the Floating Rate Notes in respect of such
determination on such date and all determinations on all subsequent dates. 
 Benchmark Replacement Conforming Changes. In connection
with the implementation of a Benchmark Replacement, the Company or its Designee will have the right to make Benchmark Replacement Conforming Changes from time to time. 

Decisions and Determinations. Any determination, decision, election or calculation that may be made by the Company or its Designee
pursuant to the benchmark transition provisions described herein, including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or
date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error, may be made in the Company’s or its Designee’s sole discretion and notwithstanding anything to the
contrary in any documentation relating to the Floating Rate Notes, shall become effective without consent from the holders of the Floating Rate Notes or any other party. 
  

	 	(F)	 Each of the 2022 Fixed Rate Notes, the 2022 Floating Rate Notes, the 2023 Fixed Rate Notes, the 2023 Floating
Rate Notes, the 2025 Fixed Rate Notes, the 2027 Fixed Rate Notes and the 2050 Fixed Rate Notes shall be issued initially as one or more Global Securities (the “Global Notes”) in registered form registered in the name of The Depository
Trust Company or its nominee in such denominations as are required by the Blanket Issuer Letter of Representations and otherwise as in substantially the form set forth in Exhibit A, Exhibit B, Exhibit C, Exhibit D, Exhibit E, Exhibit F, and Exhibit
G to this First Supplemental Indenture with such minor changes thereto as may be required in the process of printing or otherwise producing the Global Notes but not affecting the substance thereof. 

 

	 	(G)	 The Depositary for the Notes shall be The Depository Trust Company. 

 

	 	(H)	 The Global Notes shall be exchangeable for definitive Notes in registered form substantially the same as the
Global Notes in denominations of $2,000 and integral multiples of $1,000 in excess thereof upon the terms and in accordance with the provisions of the Indenture. Interest on the Floating Rate Notes will be calculated on the basis of the actual
number of days in each quarterly interest period and a 360-day year. The Fixed Rate Notes will be computed on the basis of a 360-day year of twelve 30-day months. 

  
 10 

	 	(I)	 The Notes shall be payable (as to both principal and interest) when and as the same become due at the office of
the Trustee; provided that as long as the Notes are in the form of one or more Global Notes, payments of interest may be made by wire transfer in accordance with the provisions of the Indenture and such Global Notes; and provided
further that upon any exchange of the Global Notes for Notes in definitive form, the Company elects to exercise its option to have interest payable by check mailed to the registered owners at such owners’ addresses as they appear on the
Register, as kept by the Trustee, on each relevant Record Date. 

  

	 	(J)	 The Trustee shall be the registrar for the Notes and the Register of the Notes shall be kept at the principal
office of the Trustee. 

  

	 	(K)	 The Company hereby appoints the Trustee as the Calculation Agent in connection with the Notes. The Trustee
shall be the Calculation Agent until a successor replaces it pursuant to the applicable provisions of the Indenture and, thereafter, Calculation Agent shall mean such successor. 

 

	 	(L)	 The Record Date for the Notes shall be the fifteenth day preceding the relevant Interest Payment Date.

  

	 	(M)	 The 2022 Fixed Rate Notes shall be subject to redemption, at the option of Company, in whole or in part, at any
time at a redemption price equal to the greater of (a) 100% of the principal amount of the 2022 Fixed Rate Notes being redeemed and (b) the sum of the present values of the remaining scheduled payments of principal and interest thereon
(not including the portion of any such payments of interest accrued as of the redemption date), discounted to the redemption date on a semiannual basis, calculated assuming a 360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate, plus interest accrued on the 2022 Fixed Rate Notes being redeemed to, but not including, the Redemption Date. 

 

	 	(N)	 The 2023 Fixed Rate Notes shall be subject to redemption, at the option of Company, in whole or in part, at any
time at a redemption price equal to the greater of (a) 100% of the principal amount of the 2023 Fixed Rate Notes being redeemed and (b) the sum of the present values of the remaining scheduled payments of principal and interest thereon
(not including the portion of any such payments of interest accrued as of the redemption date), discounted to the redemption date on a semiannual basis, calculated assuming a 360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate, plus interest accrued on the 2023 Fixed Rate Notes being redeemed to, but not including, the Redemption Date. 

 

	 	(O)	 Prior to July 12, 2025, the 2025 Fixed Rate Notes shall be subject to redemption, at the option of the
Company, in whole or in part, at any time at a redemption price equal to the greater of (a) 100% of the principal amount of the 2025 Fixed Rate Notes being redeemed and (b) the sum of the present values of the remaining scheduled payments
of principal and interest thereon (not including the portion of any such payments of interest accrued as of the redemption date), discounted to the redemption date on a semiannual basis, calculated assuming a
360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate, plus interest accrued on the 2025 Fixed Rate Notes being redeemed to, but not including,
the redemption date. On or after July 12, 2025, the 2025 Fixed Rate Notes shall be subject to redemption, at the option of the Company, in whole or in part, at any time at a redemption price equal to 100% of the principal amount of the 2025
Fixed Rate Notes being redeemed plus interest accrued on the 2025 Fixed Rate Notes being redeemed to, but not including, the redemption date. 

  

	 	(P)	 Prior to June 12, 2027, the 2027 Fixed Rate Notes shall be subject to redemption, at the option of the
Company, in whole or in part, at any time at a redemption price equal to the greater of (a) 100% of the principal amount of the 2027 Fixed Rate Notes being redeemed and (b) the sum of the present values of the remaining scheduled payments
of principal and interest thereon (not including the portion of any such payments of interest accrued as of the redemption date), discounted to the redemption date on a semiannual basis, calculated assuming a
360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate, plus interest accrued on the 2027 Fixed Rate Notes being redeemed to, but not including,
the 

  
 11 

 
redemption date. On or after June 12, 2027, the 2027 Fixed Rate Notes shall be subject to redemption, at the option of the Company, in whole or in part, at any time at a redemption price
equal to 100% of the principal amount of the 2027 Fixed Rate Notes being redeemed plus interest accrued on the 2027 Fixed Rate Notes being redeemed to, but not including, the redemption date. 

 

	 	(Q)	 Prior to February 12, 2050, the 2050 Fixed Rate Notes shall be subject to redemption, at the option of the
Company, in whole or in part, at any time at a redemption price equal to the greater of (a) 100% of the principal amount of the 2050 Fixed Rate Notes being redeemed and (b) the sum of the present values of the remaining scheduled payments
of principal and interest thereon (not including the portion of any such payments of interest accrued as of the redemption date), discounted to the redemption date on a semiannual basis, calculated assuming a
360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate, plus interest accrued on the 2050 Fixed Rate Notes being redeemed to, but not including,
the redemption date. On or after February 12, 2050, the 2050 Fixed Rate Notes shall be subject to redemption, at the option of the Company, in whole or in part, at any time at a redemption price equal to 100% of the principal amount of the 2050
Fixed Rate Notes being redeemed plus interest accrued on the 2050 Fixed Rate Notes being redeemed to, but not including, the redemption date. 

  

	 	(R)	 The Floating Rate Notes shall not be redeemable prior to maturity. 

 

	 	(S)	 Subject to the terms and applicable limitations set forth in the Indenture and the form of Notes, the Notes
shall be fully and unconditionally guaranteed by the Guarantor pursuant to the terms set forth in Article XIV of the Indenture. 

Article Three 

MISCELLANEOUS PROVISIONS 

Section 3.01 Provisions of the Indenture. Except insofar as herein otherwise expressly provided, all
of the definitions, provisions, terms and conditions of the Indenture shall be deemed to be incorporated in and made a part of this First Supplemental Indenture; and the Indenture and this First Supplemental Indenture is in all respects ratified and
confirmed, and the Indenture and this First Supplemental Indenture shall be read, taken and considered as one and the same instrument. 

Section 3.02 Calculation Agent. It is understood that all the rights, protections and immunities, including
the right to indemnification, extended to the Trustee pursuant to the Indenture shall be applicable to the Calculation Agent under this First Supplemental Indenture as if fully set forth herein. 

Section 3.03 Separability of Invalid Provisions. In case any one or more of the provisions contained
in this First Supplemental Indenture shall be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions contained in this First Supplemental Indenture, and to the extent
and only to the extent that any such provision is invalid, illegal or unenforceable, this First Supplemental Indenture shall be construed as if such provision had never been contained herein. 

Section 3.04 Execution in Counterparts. This First Supplemental Indenture may be simultaneously
executed and delivered in any number of counterparts, each of which when so executed and delivered shall be deemed to be an original.    The exchange of copies of this First Supplemental Indenture and of signature pages by
facsimile, electronic or PDF transmission shall constitute effective execution and delivery of this First Supplemental Indenture as to the parties hereto and may be used in lieu of the original First Supplemental Indenture and signature pages for
all purposes. 
 Section 3.05 Trustee’s Disclaimer. The Trustee accepts the
amendments of the Indenture effected by this First Supplemental Indenture, but on the terms and conditions set forth in the Indenture, including the terms and provisions defining and limiting the liabilities and responsibilities of the Trustee.

  
 12 

 
Without limiting the generality of the foregoing, the Trustee shall not be responsible in any manner whatsoever for or with respect to any of the recitals or statements contained herein, all of
which recitals or statements are made solely by the Company and the Guarantor, or for or with respect to (i) the validity or sufficiency of this First Supplemental Indenture or any of the terms or provisions hereof, (ii) the proper
authorization hereof by the Company and the Guarantor by action or otherwise, (iii) the due execution hereof by the Company and the Guarantor or (iv) the consequences of any amendment herein provided for, and the Trustee makes no
representation with respect to any such matters. 
 Section 3.06 Effectiveness. The obligations of
the parties hereto shall become effective as of the date of this First Supplemental Indenture. 
 Section 3.07
Tax Matters. In order to comply with applicable tax laws, rules and regulations (inclusive of directives, guidelines and interpretations promulgated by competent authorities) in effect from time to time (“Applicable Tax Law”)
that the Company, the Guarantor, the Trustee or the applicable paying agent is subject to related to the Notes, the Company agrees (i) if reasonably requested by the Trustee, to provide to the Trustee such information as it may have in its
possession about Holders or the Notes (including any modification to the terms of the Notes) so that the Trustee can determine whether it has tax related obligations under Applicable Tax Law and (ii) that the Trustee shall be entitled to make
any withholding or deduction from payments under the Notes to the extent necessary to comply with Applicable Tax Law for which the Trustee shall not have any liability. 

In connection with any proposed transfer of Notes outside the book entry system, the Company shall be required to provide or cause to be provided to the
Trustee such information as it may have in its possession that is reasonably requested by the Trustee and necessary to allow the Trustee to comply with any applicable tax reporting obligations, including without limitation any cost basis reporting
obligations under Internal Revenue Code Section 6045. The Trustee may rely on any such information provided to it and shall have no responsibility to verify or ensure the accuracy of such information. 

Notwithstanding anything in this Section 3.06 to the contrary, the Company shall not be required to provide information if it reasonably
determines that doing so would violate any applicable law, regulation or confidentiality obligations. 
 [remainder of this page
intentionally left blank] 

  
 13 

 IN WITNESS WHEREOF, CHEVRON U.S.A. INC., CHEVRON CORPORATION and DEUTSCHE
BANK TRUST COMPANY AMERICAS have each caused this First Supplemental Indenture to be duly executed, all as of the day and year first written above. 
  

			
	CHEVRON U.S.A. INC.
		
	By:	 	 /s/ ERIC A. BENSON

	Name: Eric A. Benson
	Title: Assistant Treasurer
	
	CHEVRON CORPORATION
		
	By:	 	 /s/ ERIC A. BENSON

	Name: Eric A. Benson
	Title: Assistant Treasurer
	
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
		
	By:	 	 /s/ ANNIE JAGHATSPANYAN

	Name: Annie Jaghatspanyan
	Title: Vice President
		
	By:	 	 /s/ DEBRA A. SCHWALB

	Name: Debra A. Schwalb
	Title: Vice President
	
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Calculation Agent
		
	By:	 	 /s/ ANNIE JAGHATSPANYAN

	Name: Annie Jaghatspanyan
	Title: Vice President
		
	By:	 	 /s/ DEBRA A. SCHWALB

	Name: Debra A. Schwalb
	Title: Vice President

 [Signature Page to First Supplemental Indenture] 

 Exhibit A 

 

			
	 $[__]
	  	CUSIP: __________
	 N-1
	  	ISIN: ___________

 CHEVRON U.S.A. INC. 

___% NOTE DUE ____ 
 UNLESS THIS NOTE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO CHEVRON U.S.A. INC. OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE EVIDENCING THE NOTE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH
SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 

CHEVRON U.S.A. INC. (herein referred to as the “Company”), a corporation duly organized and existing under the laws of the
Commonwealth of Pennsylvania, for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of [__] ($[__] ) on August __, ____ in lawful money of the United States of America and to pay interest
(computed on the basis of a 360-day year of twelve 30-day months) thereon in like money from August __, 2020 or from the most recent Interest Payment Date (hereinafter
defined) to which interest has been paid or duly provided for until payment of such principal sum, at the rate of ___% per annum, payable on each ________ __ and ________ __, commencing ________ __, 2021 (the “Interest Payment Dates”).

 The principal hereof is payable upon presentation and surrender of this Note at the principal office of Deutsche Bank Trust Company
Americas, as Trustee (herein called the “Trustee”). Interest on this Note may be payable by check or draft mailed to the person in whose name this Note is registered at the close of business on the Record Date for such interest payment at
such person’s address as it appears on the registration books of the Trustee. The Record Date for the Notes is the date which is 15 days prior to the relevant Interest Payment Date. 

Subject to the terms of the Indenture (hereinafter defined), this Security is fully and unconditionally guaranteed as to all payments due
hereon whether at the Stated Maturity, by acceleration, redemption, repayment or otherwise by Chevron Corporation (the “Guarantor”) in accordance with the terms of set forth in Article XIV of the Indenture . 

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE
SAME EFFECT AS IF FULLY SET FORTH AT THIS PLACE. 
 This Note shall not be entitled to any benefit under the Indenture, or become valid
or obligatory for any purpose, until the Certificate of Authentication hereon endorsed shall have been executed by manual or electronic signature by the Trustee. 

IN WITNESS WHEREOF, each of the Company and the Guarantor has caused this Note to be signed by its respective Assistant Treasurer manually or
in facsimile and its corporate seal to be imprinted hereon and attested by the manual or facsimile signature of its Secretary or an Assistant Secretary. 

Dated: August __, 2020 
  

			
	CHEVRON U.S.A. INC.
		
	By:	 	
                     
        

	Name:
	Title:

  

							
	Attest:	  	  
	  		  	
		  	Assistant Secretary	  		  	

  
 A-1 

 
			
	CHEVRON CORPORATION, as Guarantor
		
	By:	 	
                     
        

	Name:
	Title:

  

							
	Attest:	  	  
	  		  	
		  	Assistant Secretary	  		  	

  

			
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	
	This is one of the Securities, of the Series designated herein, described in the within-mentioned Indenture.
	
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
		
	By:	 	
                     
    

		 	Authorized Signatory

  
 A-2 

 CHEVRON U.S.A. INC. 

___% NOTE DUE ____ 
 This Note is
one of a duly authorized issue of securities of the Company, not limited in aggregate principal amount, all issued or to be issued in one or more series of varying dates, numbers, interest rates and other provisions, under an Indenture dated as of
August __, 2020, as amended by the First Supplemental Indenture dated as of August __, 2020 (such indenture as so amended being herein referred to as the “Indenture”) each being among the Company, the Guarantor and the Trustee. This Note
is one of a series of Notes designated as its “___% Notes Due ____” aggregating $__________ in principal amount (herein called the “Notes”). 

Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the rights, obligations, duties and
immunities thereunder of the Company, the Guarantor, the Trustee and the holders of the Notes, to all of the provisions of which Indenture the registered owner of this Note, by acceptance hereof, assents and agrees. The Indenture contains provisions
permitting the Company, the Guarantor and the Trustee, with the consent of the holders of not less than a majority in aggregate principal amount of the Securities (which term is defined in the Indenture as any security or securities of the Company,
authenticated and delivered under the Indenture) at the time Outstanding (as defined in the Indenture) and affected by such supplemental indenture, to execute one or more supplemental indentures for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of such Securities; provided, however, that no such supplemental indenture shall,
without the consent of the holder of each Outstanding Security (including the Notes) affected thereby: (1) change the Stated Maturity (as defined in the Indenture) of the principal of, or premium, if any, or any installment of principal of or
interest on, any Security; (2) reduce the principal amount of any Security or reduce the amount of the principal of an Original Issue Discount Security (as defined in the Indenture) or any other Security which would be due and payable upon a
declaration of acceleration of the Maturity (as defined in the Indenture) thereof pursuant to Section 502, or reduce the rate of interest on any Security; (3) reduce any premium payable upon the redemption of or change the date on which
any Security may or must be redeemed; (4) change the coin or currency in which the principal of or premium, if any, or interest on any Security is payable; (5) impair the right of any holder to institute suit for the enforcement of any
such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date (as defined in the Indenture)); (6) reduce the percentage in principal amount of the Outstanding Securities of any series, the
consent of whose holders is required for any such supplemental indenture, or the consent of whose holders is required for any waiver (of compliance with certain provisions of the Indenture or certain defaults thereunder and their consequences)
provided for in the Indenture; or (7) modify any of the provisions of Sections 9.2, 5.12 or 10.5 of the Indenture, except to increase any such percentage or to provide that certain other provisions of the Indenture cannot be modified or waived
without the consent of the holder of each Outstanding Security affected thereby; provided, however, that this clause shall not be deemed to require the consent of any holder with respect to changes in the references to “the Trustee” and
concomitant changes in Sections 9.2 and 10.5 of the Indenture, or the deletion of Section 9.2(7), in accordance with the requirements of Section 6.11 and 9.1(6) of the Indenture. It is also provided in the Indenture that the holders of a
majority in principal amount of the Notes may waive (a) compliance by the Company with the covenants contained in Article X of the Indenture with respect to the Notes and (b) any past or existing Event of Default with respect to the Notes
and its consequences except a continuing default in the payment of the principal of or interest on the Notes or in respect of a covenant or provision of the Indenture which cannot be modified or amended without the consent of the registered owner of
the Note so affected. 
 The Notes shall be subject to redemption, at the option of the Company, in whole or in part, at any time at a
redemption price equal to the greater of (a) 100% of the principal amount of the Notes being redeemed and (b) the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including the portion of
any such payments of interest accrued as of the redemption date), discounted to the redemption date on a semiannual basis, calculated assuming a 360-day year consisting of twelve
30-day months, at the Adjusted Treasury Rate, plus interest accrued on the Notes being redeemed to, but not including, the redemption date. The “Adjusted Treasury Rate” is to be determined on the
third Business Day preceding the redemption date and means (1) the arithmetic mean of the yields under the heading “Week Ending” published in the Statistical Release (hereinafter defined) most recently published prior to the date of
determination under the caption “Treasury Constant Maturities” for the maturity (rounded to the nearest month) corresponding to the remaining term, as of the applicable redemption date, of the Notes being redeemed plus (2) ___%. If no
maturity set forth under such heading exactly corresponds to the remaining term of the Notes being redeemed, yields for the two published maturities most closely corresponding to the remaining term of the Notes being redeemed will be calculated as
described in the preceding sentence, and the Adjusted Treasury Rate will be interpolated or extrapolated from such yields on a straight-line basis, rounding each of the relevant period to the nearest month. The term “Statistical Release”
means the statistical release designation “H.15” or any successor publication which is published weekly by the Federal Reserve System and which establishes yields on actively-traded United States government securities adjusted to constant
maturities, or, if such statistical release is not published at the time of any determination under the terms of the Notes, then such other reasonably comparable index as the Company shall designate. As provided in the Indenture, notice of
redemption shall be given to the registered owners of Notes to be redeemed by mailing a notice of such redemption not less than 10 nor more than 60 days prior to the date fixed for redemption, to their addresses as they appear on the register books.

 If an Event of Default (as that term is defined in the Indenture) shall occur, the principal of all Notes and the interest accrued
thereon may be declared due and payable upon the conditions, in the manner and with the effect provided in the Indenture. The Indenture provides that in certain events such declaration and its consequences may be waived by the holders of a majority
in aggregate principal amount of the Notes then Outstanding. 
 The Notes are issuable in registered form in denominations of $2,000 and
integral multiples of $1,000 in excess thereof. Notes may be exchanged for a like aggregate amount of Notes of other authorized denominations as provided in the Indenture. This Note is transferable at the office of the Trustee by the registered
owner hereof in person, or by such registered owner’s attorney duly authorized in writing, on the books of the Company at said office, but only in the manner, subject to the limitations and upon payment of the charges provided in the Indenture,
and upon surrender and cancellation of this Note. Upon such transfer a new fully registered Note or Notes of authorized denomination or denominations, for the same aggregate principal amount will be issued to the transferee in exchange herefor. 

The Company, the Trustee and any agent of the Company or the Trustee and any paying agent may treat the registered owner hereof as the
absolute owner of this Note (whether or not this Note shall be overdue and notwithstanding any notation of ownership or other writing hereon made by anyone other than the Company or the Trustee) for the purpose of receiving payment hereof or on
account hereof and for all other purposes, and none of the Company, the Trustee or any such agent shall be affected by notice to the contrary. 

THIS NOTE AND THE OBLIGATIONS OF THE COMPANY AND THE GUARANTOR IN RESPECT HEREOF ARE GOVERNED BY AND SHALL BE CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK. 

  
 A-3 

 No recourse shall be had for the payment of the principal of or the interest on this Note or for any claim
based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or the
Guarantor or of any successor of the Company or the Guarantor, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as
part of the consideration for the issue hereof, expressly waived and released. 

  
 A-4 

 Exhibit B 

 

			
	 $[__]
	  	CUSIP: __________
	 N-1
	  	ISIN: ___________

 CHEVRON U.S.A. INC. 

FLOATING RATE NOTE DUE ____ 
 UNLESS
THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO CHEVRON U.S.A. INC. OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE EVIDENCING
THE NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH
SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 

CHEVRON U.S.A. INC. (herein referred to as the “Company”), a corporation duly organized and existing under the laws of the
Commonwealth of Pennsylvania, for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of [___] ($[__]) on [___] [__], ____ in lawful money of the United States of America. 

The ____ Floating Rate Notes shall bear interest at a variable rate from [__] __, 2020, payable on each ________ __, ________ __, ________ __
and ________ __, commencing ________ __, 2020 (each an “Interest Payment Date”). If any Interest Payment Date for the ____ Floating Rate Notes falls on a date that is not a Business Day, the applicable interest payment will be made on the
next Business Day, except that if that Business Day is in the immediately succeeding calendar month, the interest payment will be made on the next preceding Business Day, in each case with interest accruing to the applicable Interest Payment Date as
so adjusted. The interest rate for the ____ Floating Rate Notes for a particular Interest Period (as defined below) will be a per annum rate equal to LIBOR (as defined below) as determined on the applicable Interest Determination Date (as defined
below) by the calculation agent appointed by the Company, which initially will be the Trustee (the “Calculation Agent”), plus ___%. The interest rate on the ____ Floating Rate Notes shall be reset on the first day of each Interest Period
other than the initial Interest Period (each an “Interest Reset Date”). An interest period is the period commencing on an Interest Payment Date (or, in the case of the initial Interest Period, commencing on [__] __, 2020) and ending on the
day preceding the next Interest Payment Date (each an “Interest Period”). The initial Interest Period is [__] __, 2020 through ________ __, 2020. The interest determination date for an Interest Period will be the second London Business Day
preceding the first day of such Interest Period (the “Interest Determination Date”). The Interest Determination Date for the initial interest period will be [__] __, 2020. Interest on the ____ Floating Rate Notes will be calculated on the
basis of the actual number of days in each quarterly interest period and a 360-day year. 
 Subject
to the Benchmark Transition Provisions (as defined below), “LIBOR” will be determined by the Calculation Agent in accordance with the following provisions: 

(i) with respect to any Interest Determination Date, LIBOR will be the rate for deposits in United States dollars having a maturity of three
months commencing on the first day of the applicable Interest Period that appears on Reuters Screen LIBOR01 Page as of 11:00 a.m., London time, on that Interest Determination Date. If no rate appears, then LIBOR, in respect of that Interest
Determination Date, will be determined in accordance with the provisions described in (ii) below. 
 (ii) with respect to an Interest
Determination Date on which no rate appears on Reuters Screen LIBOR01 Page, as specified in (i) above, the Calculation Agent will request the principal London offices of each of four major reference banks in the London interbank market, as
selected by the Company, to provide the Calculation Agent with its offered quotation for deposits in United States dollars for the period of three months, commencing on the first day of the applicable Interest Period, to prime banks in the London
interbank market at approximately 11:00 a.m., London time, on that Interest Determination Date and in a principal amount that is representative for a single transaction in United States dollars in that market at that time. If at least two quotations
are provided, then LIBOR on that Interest Determination Date will be the arithmetic mean of those quotations. If fewer than two quotations are provided, then LIBOR on the Interest Determination Date will be the arithmetic mean of the rates quoted at
approximately 11:00 a.m., in The City of New York, on the Interest Determination Date by three major banks in The City of New York selected by the Company for loans in United States dollars to leading European banks, having a three-month maturity
and in a principal amount that is representative for a single transaction in United States dollars in that market at that time; provided that if the banks selected by the Company are not providing quotations in the manner described by this sentence,
LIBOR will be the same as the rate determined for the immediately preceding interest reset date or if there is no immediately preceding interest reset date, LIBOR will be the same as the rate determined for the initial Interest Period. 

  
 B-1 

 “London Business Day” means any day on which dealings in United States dollars are
transacted on the London interbank market. 
 “Reuters Screen LIBOR01 Page” means the display designated on page
“LIBOR01” on Reuters (or such other page as may replace the LIBOR01 page on that service or any successor service for the purpose of displaying London interbank offered rates for U.S. dollar deposits of major banks). 

Notwithstanding the two foregoing paragraphs, if the Company or its Designee determine on or prior to the relevant Interest Determination Date
that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to the then-current Benchmark, then (i) the Company shall promptly provide notice of such determination to the Calculation Agent and
(ii) the provisions set forth below under the heading “Effect of Benchmark Transition Event” (the “benchmark transition provisions”) will thereafter apply to all determinations, calculations and quotations made or obtained
for the purposes of calculating the rate and amount of interest payable on the ____ Floating Rate Notes during a relevant Interest Period. In accordance with the benchmark transition provisions, after a Benchmark Transition Event and its related
Benchmark Replacement Date have occurred, the amount of interest that will be payable for each Interest Period on the ____ Floating Rate Notes will be a rate per annum equal to the sum of the Benchmark Replacement and the margin
of    %, as determined by the Company or its Designee provided, however, that the minimum interest rate on the ____ Floating Rate Notes shall not be less than 0.000%. 

However, if the Company or its Designee determine that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred
with respect to the then-current Benchmark, but for any reason the Benchmark Replacement has not been determined as of the relevant Interest Determination Date, the interest rate for the applicable interest period will be equal to the interest rate
on the last Interest Determination Date for the ____ Floating Rate Notes, as determined by the Company or its Designee. 
 All percentages
resulting from any calculation of any interest rate for the ____ Floating Rate Notes will be rounded, if necessary, to the nearest one hundred thousandth of a percentage point, with five one-millionths of a
percentage point being rounded upwards (e.g., 8.986865% (or 0.08986865) being rounded to 8.98687% (or 0.0898687)) and all dollar amounts used in or resulting from such calculations will be rounded to the nearest cent (with one-half cent being rounded upwards). 
 The interest rate on the ____ Floating Rate Notes will in no
event be higher than the maximum rate permitted by New York law as the same may be modified by United States laws of general application. Additionally, the interest rate on the ____ Floating Rate Notes will in no event be lower than zero. 

The Calculation Agent will, upon the request of any holder of the ____ Floating Rate Notes, provide the interest rate then in effect with
respect to the ____ Floating Rate Notes and, if it has been determined, the interest rate to be in effect for the next Interest Period. The Calculation Agent shall calculate the interest rate in accordance with the foregoing and shall notify the
Trustee or paying agent of such interest rate. All calculations of the Calculation Agent, in the absence of manifest error, shall be conclusive for all purposes and binding on the Company and holders of the ____ Floating Rate Notes and neither the
Trustee nor any paying agent shall have the duty to verify determinations of interest rates made by the Calculation Agent. 
 Effect
of Benchmark Transition Event 
 Benchmark Replacement. If the Company or its Designee determine that a Benchmark Transition
Event and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any determination of the Benchmark on any date, the Benchmark Replacement will replace the then-current Benchmark for all purposes relating to
the ____ Floating Rate Notes in respect of such determination on such date and all determinations on all subsequent dates. 
 Benchmark
Replacement Conforming Changes. In connection with the implementation of a Benchmark Replacement, the Company or its Designee will have the right to make Benchmark Replacement Conforming Changes from time to time. No such change shall affect the
rights, duties or immunities of [the Trustee, the Calculation Agent or the Paying Agent under the Indenture/the Calculation Agency Agreement] or otherwise without their consent. 

Decisions and Determinations. Any determination, decision, election or calculation that may be made by the Company or its Designee
pursuant to the benchmark transition provisions described herein, including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or
date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error, may be made in the Company or its Designee’s sole discretion and notwithstanding anything to the contrary in
any documentation relating to the ____ Floating Rate Notes, shall become effective without consent from the holders of the ____ Floating Rate Notes or any other party. None of [the Trustee, the Calculation Agent or the Paying Agent] will have any
liability for any determination made by or on behalf of the Company or its Designee in connection with a Benchmark Transition Event or a Benchmark Replacement, and each [Noteholder and Note Owner], by its acceptance of a Note or a beneficial
interest in a Note, will be deemed to waive, release, and covenant not to assert any claims against [the Trustee, the Calculation Agent or the Paying Agent] relating to any such determinations. Without limiting the generality of the foregoing, none
of [the Trustee, the Calculation Agent or the Paying Agent] shall have any responsibility to determine whether any manifest error has occurred and may conclusively assume that no manifest error exists and shall suffer no liability in so assuming.

 Certain Defined Terms. As used herein: 

  
 B-2 

 “Benchmark” means, initially, three-month U.S. dollar LIBOR; provided that
if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to three-month U.S. dollar LIBOR or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement. 

“Benchmark Replacement” means the Interpolated Benchmark with respect to the then-current Benchmark, plus the Benchmark Replacement
Adjustment for such Benchmark; provided that if the Company or its Designee cannot determine the Interpolated Benchmark as of the Benchmark Replacement Date, then “Benchmark Replacement” means the first alternative set forth in the
order below that can be determined by the Company or its Designee as of the Benchmark Replacement Date: 
  

	 	(1)	 the sum of (a) Term SOFR and (b) the Benchmark Replacement Adjustment; 

 

	 	(2)	 the sum of (a) Compounded SOFR and (b) the Benchmark Replacement Adjustment; 

 

	 	(3)	 the sum of (a) the alternate rate of interest that has been selected or recommended by the Relevant
Governmental Body as the replacement for the then-current Benchmark for the applicable Corresponding Tenor and (b) the Benchmark Replacement Adjustment; 

  

	 	(4)	 the sum of (a) the ISDA Fallback Rate and (b) the Benchmark Replacement Adjustment; and

  

	 	(5)	 the sum of (a) the alternate rate of interest that has been selected by the Company or its Designee as the
replacement for the then-current Benchmark for the applicable Corresponding Tenor giving due consideration to any industry-accepted rate of interest as a replacement for the then-current Benchmark for U.S. dollar-denominated floating rate notes at
such time and (b) the Benchmark Replacement Adjustment. 

 “Benchmark Replacement Adjustment” means the
first alternative set forth in the order below that can be determined by the Company or its Designee as of the Benchmark Replacement Date: 
  

	 	(1)	 the spread adjustment, or method for calculating or determining such spread adjustment (which may be a positive
or negative value or zero), that has been selected or recommended by the Relevant Governmental Body for the applicable Unadjusted Benchmark Replacement; 

  

	 	(2)	 if the applicable Unadjusted Benchmark Replacement is equivalent to the ISDA Fallback Rate, then the ISDA
Fallback Adjustment; and 

  

	 	(3)	 the spread adjustment (which may be a positive or negative value or zero) that has been selected by the Company
or its Designee giving due consideration to any industry-accepted spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the then-current Benchmark with the applicable Unadjusted Benchmark
Replacement for U.S. dollar-denominated floating rate notes at such time. 

 “Benchmark Replacement Conforming
Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “interest period,” timing and frequency of determining rates and making payments
of interest, rounding of amounts or tenors, changes to the definition of “Corresponding Tenor” solely when such tenor is longer than the interest period and other administrative matters) that the Company or its Designee decide may be
appropriate to reflect the adoption of such Benchmark Replacement in a manner substantially consistent with market practice (or, if the Company or its Designee decide that adoption of any portion of such market practice is not administratively
feasible or if the Company or its Designee determine that no market practice for use of the Benchmark Replacement exists, in such other manner as the Company or its Designee determine is reasonably necessary). 

“Benchmark Replacement Date” means the earliest to occur of the following events with respect to the then-current Benchmark: 

 

	 	(1)	 in the case of clause (1) or (2) of the definition of “Benchmark Transition Event,” the
later of (a) the date of the public statement or publication of information referenced therein and (b) the date on which the administrator of the Benchmark permanently or indefinitely ceases to provide the Benchmark; and

  

	 	(2)	 in the case of clause (3) of the definition of “Benchmark Transition Event,” the date of the
public statement or publication of information referenced therein. 

 For the avoidance of doubt, if the event giving rise
to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination.

 “Benchmark Transition Event” means the occurrence of one or more of the following events with respect to the then-current
Benchmark: 
  

	 	(1)	 a public statement or publication of information by or on behalf of the administrator of the Benchmark
announcing that such administrator has ceased or will cease to provide the Benchmark, permanently or indefinitely; provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide
the Benchmark; 

  
 B-3 

	 	(2)	 a public statement or publication of information by the regulatory supervisor for the administrator of the
Benchmark, the central bank for the currency of the Benchmark, an insolvency official with jurisdiction over the administrator for the Benchmark, a resolution authority with jurisdiction over the administrator for the Benchmark or a court or an
entity with similar insolvency or resolution authority over the administrator for the Benchmark, which states that the administrator of the Benchmark has ceased or will cease to provide the Benchmark permanently or indefinitely; provided
that, at the time of such statement or publication, there is no successor administrator that will continue to provide the Benchmark; or 

  

	 	(3)	 a public statement or publication of information by the regulatory supervisor for the administrator of the
Benchmark announcing that the Benchmark is no longer representative. 

 “Compounded SOFR” means the compounded
average of SOFRs for the applicable Corresponding Tenor, with the rate, or methodology for this rate, and conventions for this rate being established by the Company or its Designee in accordance with: 

 

	 	(1)	 the rate, or methodology for this rate, and conventions for this rate selected or recommended by the Relevant
Governmental Body for determining compounded SOFR; provided that: 

  

	 	(2)	 if and to the extent that the Company or its Designee determine that Compounded SOFR cannot be determined in
accordance with clause (1) above, then the rate, or methodology for this rate, and conventions for this rate that have been selected by the Company or its Designee giving due consideration to any industry-accepted market practice for U.S.
dollar-denominated floating rate notes at such time. 

 For the avoidance of doubt, the calculation of Compounded SOFR
shall exclude the Benchmark Replacement Adjustment and the margin specified in this Note. 
 “Corresponding Tenor” with respect to
a Benchmark Replacement means a tenor (including overnight) having approximately the same length (disregarding business day adjustment) as the applicable tenor for the then-current Benchmark. 

“Interpolated Benchmark” with respect to the Benchmark means the rate determined for the Corresponding Tenor by interpolating on a
linear basis between (1) the Benchmark for the longest period (for which the Benchmark is available) that is shorter than the Corresponding Tenor and (2) the Benchmark for the shortest period (for which the Benchmark is available) that is
longer than the Corresponding Tenor. 
 “ISDA Definitions” means the 2006 ISDA Definitions published by the International Swaps
and Derivatives Association, Inc. or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time. 

“ISDA Fallback Adjustment” means the spread adjustment (which may be a positive or negative value or zero) that would apply for
derivatives transactions referencing the ISDA Definitions to be determined upon the occurrence of an index cessation event with respect to the Benchmark for the applicable tenor. 

“ISDA Fallback Rate” means the rate that would apply for derivatives transactions referencing the ISDA Definitions to be effective
upon the occurrence of an index cessation date with respect to the Benchmark for the applicable tenor, excluding the applicable ISDA Fallback Adjustment. 

“Reference Time” with respect to any determination of the Benchmark means (1) if the Benchmark is three-month U.S. dollar
LIBOR, 11:00 a.m. (London time) on the day that is two London banking days preceding the date of such determination, and (2) if the Benchmark is not three-month U.S. dollar LIBOR, the time determined by the Company or its Designee in accordance
with the Benchmark Replacement Conforming Changes. 
 “Relevant Governmental Body” means the Federal Reserve Board and/or the NY
Federal Reserve, or a committee officially endorsed or convened by the Federal Reserve Board and/or the NY Federal Reserve or any successor thereto. 

“SOFR” with respect to any day means the secured overnight financing rate published for such day by the NY Federal Reserve, as the
administrator of the benchmark, or a successor administrator, on the website of the NY Federal Reserve at http://www.newyorkfed.org, or any successor source. 

“Term SOFR” means the forward-looking term rate for the applicable Corresponding Tenor based on SOFR that has been selected or
recommended by the Relevant Governmental Body. 
 “Unadjusted Benchmark Replacement” means the Benchmark Replacement, excluding
the Benchmark Replacement Adjustment. 
 The principal hereof is payable upon presentation and surrender of this Note at the principal
office of Deutsche Bank Trust Company Americas, as Trustee (herein called the “Trustee”). Interest on this Note may be payable by check or draft mailed to the person in whose name this Note is registered at the close of business on the
Record Date for such interest payment at such person’s address as it appears on the registration books of the Trustee. The Record Date for the ____ Floating Rate Notes is the date which is 15 days prior to the relevant Interest Payment Date.

  
 B-4 

 Subject to the terms of the Indenture (hereinafter defined), this Security is fully and
unconditionally guaranteed as to all payments due hereon whether at the Stated Maturity, by acceleration, redemption, repayment or otherwise by Chevron Corporation (the “Guarantor”) in accordance with the terms set forth in Article XIV of
the Indenture. 
 REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL
PURPOSES HAVE THE SAME EFFECT AS IF FULLY SET FORTH AT THIS PLACE. 
 This Note shall not be entitled to any benefit under the Indenture,
or become valid or obligatory for any purpose, until the Certificate of Authentication hereon endorsed shall have been executed by manual or electronic signature by the Trustee. 

IN WITNESS WHEREOF, each of the Company and the Guarantor has caused this Note to be signed by its respective Assistant Treasurer manually or
in facsimile and its corporate seal to be imprinted hereon and attested by the manual or facsimile signature of its Secretary or an Assistant Secretary. 

Dated: August __, 2020 
  

			
	CHEVRON U.S.A. INC.
		
	By:	 	
                     
        

	Name:
	Title:

  

							
	Attest:	  	  
	  		  	
		  	Assistant Secretary	  		  	

  

			
	CHEVRON CORPORATION, as Guarantor
		
	By:	 	
                     
        

	Name:
	Title:

  

							
	Attest:	  	  
	  		  	
		  	Assistant Secretary	  		  	

  

			
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	
	 This is one of the Securities, of the Series designated herein, described in the within-mentioned
Indenture.

	
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
		
	By:	 	
                     

		 	Authorized Signatory

  
 B-5 

 CHEVRON U.S.A. INC. 

FLOATING RATE NOTE DUE ____ 
 This
Note is one of a duly authorized issue of securities of the Company, not limited in aggregate principal amount, all issued or to be issued in one or more series of varying dates, numbers, interest rates and other provisions, under an Indenture dated
as of August __, 2020, as amended by the First Supplemental Indenture dated as of August __, 2020 (such indenture as so amended being herein referred to as the “Indenture”) each being among the Company, the Guarantor and the Trustee. This
Note is one of a series of Notes designated as its “Floating Rate Notes Due ____” aggregating $____________ in principal amount (herein called the “Notes”). 

Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the rights, obligations, duties and
immunities thereunder of the Company, the Guarantor, the Trustee and the holders of the Notes, to all of the provisions of which Indenture the registered owner of this Note, by acceptance hereof, assents and agrees. The Indenture contains provisions
permitting the Company, the Guarantor and the Trustee, with the consent of the holders of not less than a majority in aggregate principal amount of the Securities (which term is defined in the Indenture as any security or securities of the Company,
authenticated and delivered under the Indenture) at the time Outstanding (as defined in the Indenture) and affected by such supplemental indenture, to execute one or more supplemental indentures for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of such Securities; provided, however, that no such supplemental indenture shall,
without the consent of the holder of each Outstanding Security (including the Notes) affected thereby: (1) change the Stated Maturity (as defined in the Indenture) of the principal of, or premium, if any, or any installment of principal of or
interest on, any Security; (2) reduce the principal amount of any Security or reduce the amount of the principal of an Original Issue Discount Security (as defined in the Indenture) or any other Security which would be due and payable upon a
declaration of acceleration of the Maturity (as defined in the Indenture) thereof pursuant to Section 502, or reduce the rate of interest on any Security; (3) reduce any premium payable upon the redemption of or change the date on which
any Security may or must be redeemed; (4) change the coin or currency in which the principal of or premium, if any, or interest on any Security is payable; (5) impair the right of any holder to institute suit for the enforcement of any
such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date (as defined in the Indenture)); (6) reduce the percentage in principal amount of the Outstanding Securities of any series, the
consent of whose holders is required for any such supplemental indenture, or the consent of whose holders is required for any waiver (of compliance with certain provisions of the Indenture or certain defaults thereunder and their consequences)
provided for in the Indenture; or (7) modify any of the provisions of Sections 9.2, 5.12 or 10.5 of the Indenture, except to increase any such percentage or to provide that certain other provisions of the Indenture cannot be modified or waived
without the consent of the holder of each Outstanding Security affected thereby; provided, however, that this clause shall not be deemed to require the consent of any holder with respect to changes in the references to “the Trustee” and
concomitant changes in Sections 9.2 and 10.5 of the Indenture, or the deletion of Section 9.2(7), in accordance with the requirements of Section 6.11 and 9.1(6) of the Indenture. It is also provided in the Indenture that the holders of a
majority in principal amount of the Notes may waive (a) compliance by the Company with the covenants contained in Article X of the Indenture with respect to the Notes and (b) any past or existing Event of Default with respect to the Notes
and its consequences except a continuing default in the payment of the principal of or interest on the Notes or in respect of a covenant or provision of the Indenture which cannot be modified or amended without the consent of the registered owner of
the Note so affected. 
 The ____ Floating Rate Notes will not be redeemable prior to maturity. 

If an Event of Default (as that term is defined in the Indenture) shall occur, the principal of all Notes and the interest accrued thereon may
be declared due and payable upon the conditions, in the manner and with the effect provided in the Indenture. The Indenture provides that in certain events such declaration and its consequences may be waived by the holders of a majority in aggregate
principal amount of the Notes then Outstanding. 
 The Notes are issuable in registered form in denominations of $2,000 and integral
multiples of $1,000 in excess thereof. Notes may be exchanged for a like aggregate amount of Notes of other authorized denominations as provided in the Indenture. This Note is transferable at the office of the Trustee by the registered owner hereof
in person, or by such registered owner’s attorney duly authorized in writing, on the books of the Company at said office, but only in the manner, subject to the limitations and upon payment of the charges provided in the Indenture, and upon
surrender and cancellation of this Note. Upon such transfer a new fully registered Note or Notes of authorized denomination or denominations, for the same aggregate principal amount will be issued to the transferee in exchange herefor. 

The Company, the Trustee and any agent of the Company or the Trustee and any paying agent may treat the registered owner hereof as the
absolute owner of this Note (whether or not this Note shall be overdue and notwithstanding any notation of ownership or other writing hereon made by anyone other than the Company or the Trustee) for the purpose of receiving payment hereof or on
account hereof and for all other purposes, and none of the Company, the Trustee or any such agent shall be affected by notice to the contrary. 

THIS NOTE AND THE OBLIGATIONS OF THE COMPANY AND THE GUARANTOR IN RESPECT HEREOF ARE GOVERNED BY AND SHALL BE CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK. 
 No recourse shall be had for the payment of the principal of or the interest on this Note or for any claim
based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or the
Guarantor or of any successor of the Company or the Guarantor, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as
part of the consideration for the issue hereof, expressly waived and released. 

  
 B-6 

 Exhibit C 

 

			
	 $[__]
	  	CUSIP: __________
	 N-1
	  	ISIN: ___________

 CHEVRON U.S.A. INC. 

___% NOTE DUE ____ 
 UNLESS THIS NOTE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO CHEVRON U.S.A. INC. OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE EVIDENCING THE NOTE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH
SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 

CHEVRON U.S.A. INC. (herein referred to as the “Company”), a corporation duly organized and existing under the laws of the
Commonwealth of Pennsylvania, for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of [__] ($[__] ) on August __, ____ in lawful money of the United States of America and to pay interest
(computed on the basis of a 360-day year of twelve 30-day months) thereon in like money from August __, 2020 or from the most recent Interest Payment Date (hereinafter
defined) to which interest has been paid or duly provided for until payment of such principal sum, at the rate of ___% per annum, payable on each ________ __ and ________ __, commencing ________ __, 2021 (the “Interest Payment Dates”).

 The principal hereof is payable upon presentation and surrender of this Note at the principal office of Deutsche Bank Trust Company
Americas, as Trustee (herein called the “Trustee”). Interest on this Note may be payable by check or draft mailed to the person in whose name this Note is registered at the close of business on the Record Date for such interest payment at
such person’s address as it appears on the registration books of the Trustee. The Record Date for the Notes is the date which is 15 days prior to the relevant Interest Payment Date. 

Subject to the terms of the Indenture (hereinafter defined), this Security is fully and unconditionally guaranteed as to all payments due
hereon whether at the Stated Maturity, by acceleration, redemption, repayment or otherwise by Chevron Corporation (the “Guarantor”) in accordance with the terms set forth in Article XIV of the Indenture. 

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE
SAME EFFECT AS IF FULLY SET FORTH AT THIS PLACE. 
 This Note shall not be entitled to any benefit under the Indenture, or become valid
or obligatory for any purpose, until the Certificate of Authentication hereon endorsed shall have been executed by manual or electronic signature by the Trustee. 

IN WITNESS WHEREOF, each of the Company and the Guarantor has caused this Note to be signed by its respective Assistant Treasurer manually or
in facsimile and its corporate seal to be imprinted hereon and attested by the manual or facsimile signature of its Secretary or an Assistant Secretary. 

Dated: August __, 2020 
  

			
	CHEVRON U.S.A. INC.
		
	By:	 	
                     
            

	Name:
	Title:

  

							
	Attest:	  	  
	  		  	
		  	Assistant Secretary	  		  	

  
 C-1 

 
			
	CHEVRON CORPORATION, as Guarantor
		
	By:	 	
                     
        

	Name:
	Title:

  

							
	Attest:	  	  
	  		  	
		  	Assistant Secretary	  		  	

  

			
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	
	 This is one of the Securities, of the Series designated herein, described in the within-mentioned
Indenture.

	
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
		
	By:	 	
                     

		 	Authorized Signatory

  
 C-2 

 CHEVRON U.S.A. INC. 

___% NOTE DUE ____ 
 This Note is
one of a duly authorized issue of securities of the Company, not limited in aggregate principal amount, all issued or to be issued in one or more series of varying dates, numbers, interest rates and other provisions, under an Indenture dated as of
August __, 2020, as amended by the First Supplemental Indenture dated as of August __, 2020 (such indenture as so amended being herein referred to as the “Indenture”) each being among the Company, the Guarantor and the Trustee. This Note
is one of a series of Notes designated as its “___% Notes Due ____” aggregating $____________ in principal amount (herein called the “Notes”). 

Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the rights, obligations, duties and
immunities thereunder of the Company, the Guarantor, the Trustee and the holders of the Notes, to all of the provisions of which Indenture the registered owner of this Note, by acceptance hereof, assents and agrees. The Indenture contains provisions
permitting the Company, the Guarantor and the Trustee, with the consent of the holders of not less than a majority in aggregate principal amount of the Securities (which term is defined in the Indenture as any security or securities of the Company,
authenticated and delivered under the Indenture) at the time Outstanding (as defined in the Indenture) and affected by such supplemental indenture, to execute one or more supplemental indentures for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of such Securities; provided, however, that no such supplemental indenture shall,
without the consent of the holder of each Outstanding Security (including the Notes) affected thereby: (1) change the Stated Maturity (as defined in the Indenture) of the principal of, or premium, if any, or any installment of principal of or
interest on, any Security; (2) reduce the principal amount of any Security or reduce the amount of the principal of an Original Issue Discount Security (as defined in the Indenture) or any other Security which would be due and payable upon a
declaration of acceleration of the Maturity (as defined in the Indenture) thereof pursuant to Section 502, or reduce the rate of interest on any Security; (3) reduce any premium payable upon the redemption of or change the date on which
any Security may or must be redeemed; (4) change the coin or currency in which the principal of or premium, if any, or interest on any Security is payable; (5) impair the right of any holder to institute suit for the enforcement of any
such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date (as defined in the Indenture)); (6) reduce the percentage in principal amount of the Outstanding Securities of any series, the
consent of whose holders is required for any such supplemental indenture, or the consent of whose holders is required for any waiver (of compliance with certain provisions of the Indenture or certain defaults thereunder and their consequences)
provided for in the Indenture; or (7) modify any of the provisions of Sections 9.2, 5.12 or 10.5 of the Indenture, except to increase any such percentage or to provide that certain other provisions of the Indenture cannot be modified or waived
without the consent of the holder of each Outstanding Security affected thereby; provided, however, that this clause shall not be deemed to require the consent of any holder with respect to changes in the references to “the Trustee” and
concomitant changes in Sections 9.2 and 10.5 of the Indenture, or the deletion of Section 9.2(7), in accordance with the requirements of Section 6.11 and 9.1(6) of the Indenture. It is also provided in the Indenture that the holders of a
majority in principal amount of the Notes may waive (a) compliance by the Company with the covenants contained in Article X of the Indenture with respect to the Notes and (b) any past or existing Event of Default with respect to the Notes
and its consequences except a continuing default in the payment of the principal of or interest on the Notes or in respect of a covenant or provision of the Indenture which cannot be modified or amended without the consent of the registered owner of
the Note so affected. 
 The Notes shall be subject to redemption, at the option of the Company, in whole or in part, at any time at a
redemption price equal to the greater of (a) 100% of the principal amount of the Notes being redeemed and (b) the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including the portion of
any such payments of interest accrued as of the redemption date), discounted to the redemption date on a semiannual basis, calculated assuming a 360-day year consisting of twelve
30-day months, at the Adjusted Treasury Rate, plus interest accrued on the Notes being redeemed to, but not including, the redemption date. The “Adjusted Treasury Rate” is to be determined on the
third Business Day preceding the redemption date and means (1) the arithmetic mean of the yields under the heading “Week Ending” published in the Statistical Release (hereinafter defined) most recently published prior to the date of
determination under the caption “Treasury Constant Maturities” for the maturity (rounded to the nearest month) corresponding to the remaining term, as of the applicable redemption date, of the Notes being redeemed plus (2) ___%. If no
maturity set forth under such heading exactly corresponds to the remaining term of the Notes being redeemed, yields for the two published maturities most closely corresponding to the remaining term of the Notes being redeemed will be calculated as
described in the preceding sentence, and the Adjusted Treasury Rate will be interpolated or extrapolated from such yields on a straight-line basis, rounding each of the relevant period to the nearest month. The term “Statistical Release”
means the statistical release designation “H.15” or any successor publication which is published weekly by the Federal Reserve System and which establishes yields on actively-traded United States government securities adjusted to constant
maturities, or, if such statistical release is not published at the time of any determination under the terms of the Notes, then such other reasonably comparable index as the Company shall designate. As provided in the Indenture, notice of
redemption shall be given to the registered owners of Notes to be redeemed by mailing a notice of such redemption not less than 10 nor more than 60 days prior to the date fixed for redemption, to their addresses as they appear on the register books.

 If an Event of Default (as that term is defined in the Indenture) shall occur, the principal of all Notes and the interest accrued
thereon may be declared due and payable upon the conditions, in the manner and with the effect provided in the Indenture. The Indenture provides that in certain events such declaration and its consequences may be waived by the holders of a majority
in aggregate principal amount of the Notes then Outstanding. 
 The Notes are issuable in registered form in denominations of $2,000 and
integral multiples of $1,000 in excess thereof. Notes may be exchanged for a like aggregate amount of Notes of other authorized denominations as provided in the Indenture. This Note is transferable at the office of the Trustee by the registered
owner hereof in person, or by such registered owner’s attorney duly authorized in writing, on the books of the Company at said office, but only in the manner, subject to the limitations and upon payment of the charges provided in the Indenture,
and upon surrender and cancellation of this Note. Upon such transfer a new fully registered Note or Notes of authorized denomination or denominations, for the same aggregate principal amount will be issued to the transferee in exchange herefor. 

The Company, the Trustee and any agent of the Company or the Trustee and any paying agent may treat the registered owner hereof as the
absolute owner of this Note (whether or not this Note shall be overdue and notwithstanding any notation of ownership or other writing hereon made by anyone other than the Company or the Trustee) for the purpose of receiving payment hereof or on
account hereof and for all other purposes, and none of the Company, the Trustee or any such agent shall be affected by notice to the contrary. 

THIS NOTE AND THE OBLIGATIONS OF THE COMPANY AND THE GUARANTOR IN RESPECT HEREOF ARE GOVERNED BY AND SHALL BE CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK. 

  
 C-3 

 No recourse shall be had for the payment of the principal of or the interest on this Note or for any claim
based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or the
Guarantor or of any successor of the Company or the Guarantor, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as
part of the consideration for the issue hereof, expressly waived and released. 

  
 C-4 

 Exhibit D 

 

			
	 $[__]
	  	CUSIP: __________
	 N-1
	  	ISIN: ___________

 CHEVRON U.S.A. INC. 

FLOATING RATE NOTE DUE ____ 
 UNLESS
THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO CHEVRON U.S.A. INC. OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE EVIDENCING
THE NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S
NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 

CHEVRON U.S.A. INC. (herein referred to as the “Company”), a corporation duly organized and existing under the laws of the
Commonwealth of Pennsylvania, for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of [___] ($[__]) on [___] [__], ____ in lawful money of the United States of America. 

The ____ Floating Rate Notes shall bear interest at a variable rate from [__] __, 2020, payable on each ________ __, ________ __, ________ __
and ________ __, commencing ________ __, 2020 (each an “Interest Payment Date”). If any Interest Payment Date for the ____ Floating Rate Notes falls on a date that is not a Business Day, the applicable interest payment will be made on the
next Business Day, except that if that Business Day is in the immediately succeeding calendar month, the interest payment will be made on the next preceding Business Day, in each case with interest accruing to the applicable Interest Payment Date as
so adjusted. The interest rate for the ____ Floating Rate Notes for a particular Interest Period (as defined below) will be a per annum rate equal to LIBOR (as defined below) as determined on the applicable Interest Determination Date (as defined
below) by the calculation agent appointed by the Company, which initially will be the Trustee (the “Calculation Agent”), plus ___%. The interest rate on the ____ Floating Rate Notes shall be reset on the first day of each Interest Period
other than the initial Interest Period (each an “Interest Reset Date”). An interest period is the period commencing on an Interest Payment Date (or, in the case of the initial Interest Period, commencing on [__] __, 2020) and ending on the
day preceding the next Interest Payment Date (each an “Interest Period”). The initial Interest Period is [__] __, 2020 through ________ __, 2020. The interest determination date for an Interest Period will be the second London Business Day
preceding the first day of such Interest Period (the “Interest Determination Date”). The Interest Determination Date for the initial interest period will be [__] __, 2020. Interest on the ____ Floating Rate Notes will be calculated on the
basis of the actual number of days in each quarterly interest period and a 360-day year. 
 Subject
to the Benchmark Transition Provisions (as defined below), “LIBOR” will be determined by the Calculation Agent in accordance with the following provisions: 

(i) with respect to any Interest Determination Date, LIBOR will be the rate for deposits in United States dollars having a maturity of three
months commencing on the first day of the applicable Interest Period that appears on Reuters Screen LIBOR01 Page as of 11:00 a.m., London time, on that Interest Determination Date. If no rate appears, then LIBOR, in respect of that Interest
Determination Date, will be determined in accordance with the provisions described in (ii) below. 
 (ii) with respect to an Interest
Determination Date on which no rate appears on Reuters Screen LIBOR01 Page, as specified in (i) above, the Calculation Agent will request the principal London offices of each of four major reference banks in the London interbank market, as
selected by the Company, to provide the Calculation Agent with its offered quotation for deposits in United States dollars for the period of three months, commencing on the first day of the applicable Interest Period, to prime banks in the London
interbank market at approximately 11:00 a.m., London time, on that Interest Determination Date and in a principal amount that is representative for a single transaction in United States dollars in that market at that time. If at least two quotations
are provided, then LIBOR on that Interest Determination Date will be the arithmetic mean of those quotations. If fewer than two quotations are provided, then LIBOR on the Interest Determination Date will be the arithmetic mean of the rates quoted at
approximately 11:00 a.m., in The City of New York, on the Interest Determination Date by three major banks in The City of New York selected by the Company for loans in United States dollars to leading European banks, having a three-month maturity
and in a principal amount that is representative for a single transaction in United States dollars in that market at that time; provided that if the banks selected by the Company are not providing quotations in the manner described by this sentence,
LIBOR will be the same as the rate determined for the immediately preceding interest reset date or if there is no immediately preceding interest reset date, LIBOR will be the same as the rate determined for the initial Interest Period. 

  
 D-1 

 “London Business Day” means any day on which dealings in United States dollars are
transacted on the London interbank market. 
 “Reuters Screen LIBOR01 Page” means the display designated on page
“LIBOR01” on Reuters (or such other page as may replace the LIBOR01 page on that service or any successor service for the purpose of displaying London interbank offered rates for U.S. dollar deposits of major banks). 

Notwithstanding the two foregoing paragraphs, if the Company or its Designee determine on or prior to the relevant Interest Determination Date
that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to the then-current Benchmark, then (i) the Company shall promptly provide notice of such determination to the Calculation Agent and
(ii) the provisions set forth below under the heading “Effect of Benchmark Transition Event” (the “benchmark transition provisions”) will thereafter apply to all determinations, calculations and quotations made or obtained
for the purposes of calculating the rate and amount of interest payable on the ____ Floating Rate Notes during a relevant Interest Period. In accordance with the benchmark transition provisions, after a Benchmark Transition Event and its related
Benchmark Replacement Date have occurred, the amount of interest that will be payable for each Interest Period on the ____ Floating Rate Notes will be a rate per annum equal to the sum of the Benchmark Replacement and the margin
of    %, as determined by the Company or its Designee provided, however, that the minimum interest rate on the ____ Floating Rate Notes shall not be less than 0.000%. 

However, if the Company or its Designee determine that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred
with respect to the then-current Benchmark, but for any reason the Benchmark Replacement has not been determined as of the relevant Interest Determination Date, the interest rate for the applicable interest period will be equal to the interest rate
on the last Interest Determination Date for the ____ Floating Rate Notes, as determined by the Company or its Designee. 
 All percentages
resulting from any calculation of any interest rate for the ____ Floating Rate Notes will be rounded, if necessary, to the nearest one hundred thousandth of a percentage point, with five one-millionths of a
percentage point being rounded upwards (e.g., 8.986865% (or 0.08986865) being rounded to 8.98687% (or 0.0898687)) and all dollar amounts used in or resulting from such calculations will be rounded to the nearest cent (with one-half cent being rounded upwards). 
 The interest rate on the ____ Floating Rate Notes will in no
event be higher than the maximum rate permitted by New York law as the same may be modified by United States laws of general application. Additionally, the interest rate on the ____ Floating Rate Notes will in no event be lower than zero. 

The Calculation Agent will, upon the request of any holder of the ____ Floating Rate Notes, provide the interest rate then in effect with
respect to the ____ Floating Rate Notes and, if it has been determined, the interest rate to be in effect for the next Interest Period. The Calculation Agent shall calculate the interest rate in accordance with the foregoing and shall notify the
Trustee or paying agent of such interest rate. All calculations of the Calculation Agent, in the absence of manifest error, shall be conclusive for all purposes and binding on the Company and holders of the ____ Floating Rate Notes and neither the
Trustee nor any paying agent shall have the duty to verify determinations of interest rates made by the Calculation Agent. 
 Effect
of Benchmark Transition Event 
 Benchmark Replacement. If the Company or its Designee determine that a Benchmark Transition
Event and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any determination of the Benchmark on any date, the Benchmark Replacement will replace the then-current Benchmark for all purposes relating to
the ____ Floating Rate Notes in respect of such determination on such date and all determinations on all subsequent dates. 
 Benchmark
Replacement Conforming Changes. In connection with the implementation of a Benchmark Replacement, the Company or its Designee will have the right to make Benchmark Replacement Conforming Changes from time to time. No such change shall affect the
rights, duties or immunities of [the Trustee, the Calculation Agent or the Paying Agent under the Indenture/the Calculation Agency Agreement] or otherwise without their consent. 

Decisions and Determinations. Any determination, decision, election or calculation that may be made by the Company or its Designee
pursuant to the benchmark transition provisions described herein, including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or
date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error, may be made in the Company or its Designee’s sole discretion and notwithstanding anything to the contrary in
any documentation relating to the ____ Floating Rate Notes, shall become effective without consent from the holders of the ____ Floating Rate Notes or any other party. None of [the Trustee, the Calculation Agent or the Paying Agent] will have any
liability for any determination made by or on behalf of the Company or its Designee in connection with a Benchmark Transition Event or a Benchmark Replacement, and each [Noteholder and Note Owner], by its acceptance of a Note or a beneficial
interest in a Note, will be deemed to waive, release, and covenant not to assert any claims against [the Trustee, the Calculation Agent or the Paying Agent] relating to any such determinations. Without limiting the generality of the foregoing, none
of [the Trustee, the Calculation Agent or the Paying Agent] shall have any responsibility to determine whether any manifest error has occurred and may conclusively assume that no manifest error exists and shall suffer no liability in so assuming.

 Certain Defined Terms. As used herein: 

  
 D-2 

 “Benchmark” means, initially, three-month U.S. dollar LIBOR; provided that
if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to three-month U.S. dollar LIBOR or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement. 

“Benchmark Replacement” means the Interpolated Benchmark with respect to the then-current Benchmark, plus the Benchmark Replacement
Adjustment for such Benchmark; provided that if the Company or its Designee cannot determine the Interpolated Benchmark as of the Benchmark Replacement Date, then “Benchmark Replacement” means the first alternative set forth in the
order below that can be determined by the Company or its Designee as of the Benchmark Replacement Date: 
  

	 	(1)	 the sum of (a) Term SOFR and (b) the Benchmark Replacement Adjustment; 

 

	 	(2)	 the sum of (a) Compounded SOFR and (b) the Benchmark Replacement Adjustment; 

 

	 	(3)	 the sum of (a) the alternate rate of interest that has been selected or recommended by the Relevant
Governmental Body as the replacement for the then-current Benchmark for the applicable Corresponding Tenor and (b) the Benchmark Replacement Adjustment; 

  

	 	(4)	 the sum of (a) the ISDA Fallback Rate and (b) the Benchmark Replacement Adjustment; and

  

	 	(5)	 the sum of (a) the alternate rate of interest that has been selected by the Company or its Designee as the
replacement for the then-current Benchmark for the applicable Corresponding Tenor giving due consideration to any industry-accepted rate of interest as a replacement for the then-current Benchmark for U.S. dollar-denominated floating rate notes at
such time and (b) the Benchmark Replacement Adjustment. 

 “Benchmark Replacement Adjustment” means the
first alternative set forth in the order below that can be determined by the Company or its Designee as of the Benchmark Replacement Date: 
  

	 	(1)	 the spread adjustment, or method for calculating or determining such spread adjustment (which may be a positive
or negative value or zero), that has been selected or recommended by the Relevant Governmental Body for the applicable Unadjusted Benchmark Replacement; 

  

	 	(2)	 if the applicable Unadjusted Benchmark Replacement is equivalent to the ISDA Fallback Rate, then the ISDA
Fallback Adjustment; and 

  

	 	(3)	 the spread adjustment (which may be a positive or negative value or zero) that has been selected by the Company
or its Designee giving due consideration to any industry-accepted spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the then-current Benchmark with the applicable Unadjusted Benchmark
Replacement for U.S. dollar-denominated floating rate notes at such time. 

 “Benchmark Replacement Conforming
Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “interest period,” timing and frequency of determining rates and making payments
of interest, rounding of amounts or tenors, changes to the definition of “Corresponding Tenor” solely when such tenor is longer than the interest period and other administrative matters) that the Company or its Designee decide may be
appropriate to reflect the adoption of such Benchmark Replacement in a manner substantially consistent with market practice (or, if the Company or its Designee decide that adoption of any portion of such market practice is not administratively
feasible or if the Company or its Designee determine that no market practice for use of the Benchmark Replacement exists, in such other manner as the Company or its Designee determine is reasonably necessary). 

“Benchmark Replacement Date” means the earliest to occur of the following events with respect to the then-current Benchmark: 

 

	 	(1)	 in the case of clause (1) or (2) of the definition of “Benchmark Transition Event,” the
later of (a) the date of the public statement or publication of information referenced therein and (b) the date on which the administrator of the Benchmark permanently or indefinitely ceases to provide the Benchmark; and

  

	 	(2)	 in the case of clause (3) of the definition of “Benchmark Transition Event,” the date of the
public statement or publication of information referenced therein. 

 For the avoidance of doubt, if the event giving rise
to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination.

 “Benchmark Transition Event” means the occurrence of one or more of the following events with respect to the then-current
Benchmark: 
  

	 	(1)	 a public statement or publication of information by or on behalf of the administrator of the Benchmark
announcing that such administrator has ceased or will cease to provide the Benchmark, permanently or indefinitely; provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide
the Benchmark; 

  
 D-3 

	 	(2)	 a public statement or publication of information by the regulatory supervisor for the administrator of the
Benchmark, the central bank for the currency of the Benchmark, an insolvency official with jurisdiction over the administrator for the Benchmark, a resolution authority with jurisdiction over the administrator for the Benchmark or a court or an
entity with similar insolvency or resolution authority over the administrator for the Benchmark, which states that the administrator of the Benchmark has ceased or will cease to provide the Benchmark permanently or indefinitely; provided
that, at the time of such statement or publication, there is no successor administrator that will continue to provide the Benchmark; or 

  

	 	(3)	 a public statement or publication of information by the regulatory supervisor for the administrator of the
Benchmark announcing that the Benchmark is no longer representative. 

 “Compounded SOFR” means the compounded
average of SOFRs for the applicable Corresponding Tenor, with the rate, or methodology for this rate, and conventions for this rate being established by the Company or its Designee in accordance with: 

 

	 	(1)	 the rate, or methodology for this rate, and conventions for this rate selected or recommended by the Relevant
Governmental Body for determining compounded SOFR; provided that: 

  

	 	(2)	 if and to the extent that the Company or its Designee determine that Compounded SOFR cannot be determined in
accordance with clause (1) above, then the rate, or methodology for this rate, and conventions for this rate that have been selected by the Company or its Designee giving due consideration to any industry-accepted market practice for U.S.
dollar-denominated floating rate notes at such time. 

 For the avoidance of doubt, the calculation of Compounded SOFR
shall exclude the Benchmark Replacement Adjustment and the margin specified in this Note. 
 “Corresponding Tenor” with respect to
a Benchmark Replacement means a tenor (including overnight) having approximately the same length (disregarding business day adjustment) as the applicable tenor for the then-current Benchmark. 

“Interpolated Benchmark” with respect to the Benchmark means the rate determined for the Corresponding Tenor by interpolating on a
linear basis between (1) the Benchmark for the longest period (for which the Benchmark is available) that is shorter than the Corresponding Tenor and (2) the Benchmark for the shortest period (for which the Benchmark is available) that is
longer than the Corresponding Tenor. 
 “ISDA Definitions” means the 2006 ISDA Definitions published by the International Swaps
and Derivatives Association, Inc. or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time. 

“ISDA Fallback Adjustment” means the spread adjustment (which may be a positive or negative value or zero) that would apply for
derivatives transactions referencing the ISDA Definitions to be determined upon the occurrence of an index cessation event with respect to the Benchmark for the applicable tenor. 

“ISDA Fallback Rate” means the rate that would apply for derivatives transactions referencing the ISDA Definitions to be effective
upon the occurrence of an index cessation date with respect to the Benchmark for the applicable tenor, excluding the applicable ISDA Fallback Adjustment. 

“Reference Time” with respect to any determination of the Benchmark means (1) if the Benchmark is three-month U.S. dollar
LIBOR, 11:00 a.m. (London time) on the day that is two London banking days preceding the date of such determination, and (2) if the Benchmark is not three-month U.S. dollar LIBOR, the time determined by the Company or its Designee in accordance
with the Benchmark Replacement Conforming Changes. 
 “Relevant Governmental Body” means the Federal Reserve Board and/or the NY
Federal Reserve, or a committee officially endorsed or convened by the Federal Reserve Board and/or the NY Federal Reserve or any successor thereto. 

“SOFR” with respect to any day means the secured overnight financing rate published for such day by the NY Federal Reserve, as the
administrator of the benchmark, or a successor administrator, on the website of the NY Federal Reserve at http://www.newyorkfed.org, or any successor source. 

“Term SOFR” means the forward-looking term rate for the applicable Corresponding Tenor based on SOFR that has been selected or
recommended by the Relevant Governmental Body. 
 “Unadjusted Benchmark Replacement” means the Benchmark Replacement, excluding
the Benchmark Replacement Adjustment. 
 The principal hereof is payable upon presentation and surrender of this Note at the principal
office of Deutsche Bank Trust Company Americas, as Trustee (herein called the “Trustee”). Interest on this Note may be payable by check or draft mailed to the person in whose name this Note is registered at the close of business on the
Record Date for such interest payment at such person’s address as it appears on the registration books of the Trustee. The Record Date for the ____ Floating Rate Notes is the date which is 15 days prior to the relevant Interest Payment Date.

  
 D-4 

 Subject to the terms of the Indenture (hereinafter defined), this Security is fully and
unconditionally guaranteed as to all payments due hereon whether at the Stated Maturity, by acceleration, redemption, repayment or otherwise by Chevron Corporation (the “Guarantor”) in accordance with the terms set forth in Article XIV of
the Indenture. 
 REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL
PURPOSES HAVE THE SAME EFFECT AS IF FULLY SET FORTH AT THIS PLACE. 
 This Note shall not be entitled to any benefit under the Indenture,
or become valid or obligatory for any purpose, until the Certificate of Authentication hereon endorsed shall have been executed by manual or electronic signature by the Trustee. 

IN WITNESS WHEREOF, each of the Company and the Guarantor has caused this Note to be signed by its respective Assistant Treasurer manually or
in facsimile and its corporate seal to be imprinted hereon and attested by the manual or facsimile signature of its Secretary or an Assistant Secretary. 

Dated: August __, 2020 
  

			
	CHEVRON U.S.A. INC.
		
	By:	 	
                     
        

	Name:
	Title:

  

							
	Attest:	  	  
	  		  	
		  	Assistant Secretary	  		  	

  

			
	CHEVRON CORPORATION, as Guarantor
		
	By:	 	
                     
        

	Name:
	Title:

  

							
	Attest:	  	  
	  		  	
		  	Assistant Secretary	  		  	

  

			
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	
	 This is one of the Securities, of the Series designated herein, described in the within-mentioned
Indenture.

	
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
		
	By:	 	
                     

		 	Authorized Signatory

  
 D-5 

 CHEVRON U.S.A. INC. 

FLOATING RATE NOTE DUE ____ 
 This
Note is one of a duly authorized issue of securities of the Company, not limited in aggregate principal amount, all issued or to be issued in one or more series of varying dates, numbers, interest rates and other provisions, under an Indenture dated
as of August __, 2020, as amended by the First Supplemental Indenture dated as of August __, 2020 (such indenture as so amended being herein referred to as the “Indenture”) each being among the Company, the Guarantor and the Trustee. This
Note is one of a series of Notes designated as its “Floating Rate Notes Due ____” aggregating $____________ in principal amount (herein called the “Notes”). 

Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the rights, obligations, duties and
immunities thereunder of the Company, the Guarantor, the Trustee and the holders of the Notes, to all of the provisions of which Indenture the registered owner of this Note, by acceptance hereof, assents and agrees. The Indenture contains provisions
permitting the Company, the Guarantor and the Trustee, with the consent of the holders of not less than a majority in aggregate principal amount of the Securities (which term is defined in the Indenture as any security or securities of the Company,
authenticated and delivered under the Indenture) at the time Outstanding (as defined in the Indenture) and affected by such supplemental indenture, to execute one or more supplemental indentures for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of such Securities; provided, however, that no such supplemental indenture shall,
without the consent of the holder of each Outstanding Security (including the Notes) affected thereby: (1) change the Stated Maturity (as defined in the Indenture) of the principal of, or premium, if any, or any installment of principal of or
interest on, any Security; (2) reduce the principal amount of any Security or reduce the amount of the principal of an Original Issue Discount Security (as defined in the Indenture) or any other Security which would be due and payable upon a
declaration of acceleration of the Maturity (as defined in the Indenture) thereof pursuant to Section 502, or reduce the rate of interest on any Security; (3) reduce any premium payable upon the redemption of or change the date on which
any Security may or must be redeemed; (4) change the coin or currency in which the principal of or premium, if any, or interest on any Security is payable; (5) impair the right of any holder to institute suit for the enforcement of any
such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date (as defined in the Indenture)); (6) reduce the percentage in principal amount of the Outstanding Securities of any series, the
consent of whose holders is required for any such supplemental indenture, or the consent of whose holders is required for any waiver (of compliance with certain provisions of the Indenture or certain defaults thereunder and their consequences)
provided for in the Indenture; or (7) modify any of the provisions of Sections 9.2, 5.12 or 10.5 of the Indenture, except to increase any such percentage or to provide that certain other provisions of the Indenture cannot be modified or waived
without the consent of the holder of each Outstanding Security affected thereby; provided, however, that this clause shall not be deemed to require the consent of any holder with respect to changes in the references to “the Trustee” and
concomitant changes in Sections 9.2 and 10.5 of the Indenture, or the deletion of Section 9.2(7), in accordance with the requirements of Section 6.11 and 9.1(6) of the Indenture. It is also provided in the Indenture that the holders of a
majority in principal amount of the Notes may waive (a) compliance by the Company with the covenants contained in Article X of the Indenture with respect to the Notes and (b) any past or existing Event of Default with respect to the Notes
and its consequences except a continuing default in the payment of the principal of or interest on the Notes or in respect of a covenant or provision of the Indenture which cannot be modified or amended without the consent of the registered owner of
the Note so affected. 
 The ____ Floating Rate Notes will not be redeemable prior to maturity. 

If an Event of Default (as that term is defined in the Indenture) shall occur, the principal of all Notes and the interest accrued thereon may
be declared due and payable upon the conditions, in the manner and with the effect provided in the Indenture. The Indenture provides that in certain events such declaration and its consequences may be waived by the holders of a majority in aggregate
principal amount of the Notes then Outstanding. 
 The Notes are issuable in registered form in denominations of $2,000 and integral
multiples of $1,000 in excess thereof. Notes may be exchanged for a like aggregate amount of Notes of other authorized denominations as provided in the Indenture. This Note is transferable at the office of the Trustee by the registered owner hereof
in person, or by such registered owner’s attorney duly authorized in writing, on the books of the Company at said office, but only in the manner, subject to the limitations and upon payment of the charges provided in the Indenture, and upon
surrender and cancellation of this Note. Upon such transfer a new fully registered Note or Notes of authorized denomination or denominations, for the same aggregate principal amount will be issued to the transferee in exchange herefor. 

The Company, the Trustee and any agent of the Company or the Trustee and any paying agent may treat the registered owner hereof as the
absolute owner of this Note (whether or not this Note shall be overdue and notwithstanding any notation of ownership or other writing hereon made by anyone other than the Company or the Trustee) for the purpose of receiving payment hereof or on
account hereof and for all other purposes, and none of the Company, the Trustee or any such agent shall be affected by notice to the contrary. 

THIS NOTE AND THE OBLIGATIONS OF THE COMPANY AND THE GUARANTOR IN RESPECT HEREOF ARE GOVERNED BY AND SHALL BE CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK. 
 No recourse shall be had for the payment of the principal of or the interest on this Note or for any claim
based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or the
Guarantor or of any successor of the Company or the Guarantor, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as
part of the consideration for the issue hereof, expressly waived and released. 

  
 D-6 

 Exhibit E 

 

			
	 $[__]
	  	CUSIP: __________
	 N-1
	  	ISIN: ___________

 CHEVRON U.S.A. INC. 

___% NOTE DUE ____ 
 UNLESS THIS NOTE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO CHEVRON U.S.A. INC. OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE EVIDENCING THE NOTE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S
NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 

CHEVRON U.S.A. INC. (herein referred to as the “Company”), a corporation duly organized and existing under the laws of the
Commonwealth of Pennsylvania, for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of [__] ($[__] ) on August __, ____ in lawful money of the United States of America and to pay interest
(computed on the basis of a 360-day year of twelve 30-day months) thereon in like money from August __, 2020 or from the most recent Interest Payment Date (hereinafter
defined) to which interest has been paid or duly provided for until payment of such principal sum, at the rate of ___% per annum, payable on each ________ __ and ________ __, commencing ________ __, 2021 (the “Interest Payment Dates”).

 The principal hereof is payable upon presentation and surrender of this Note at the principal office of Deutsche Bank Trust Company
Americas, as Trustee (herein called the “Trustee”). Interest on this Note may be payable by check or draft mailed to the person in whose name this Note is registered at the close of business on the Record Date for such interest payment at
such person’s address as it appears on the registration books of the Trustee. The Record Date for the Notes is the date which is 15 days prior to the relevant Interest Payment Date. 

Subject to the terms of the Indenture (hereinafter defined), this Security is fully and unconditionally guaranteed as to all payments due
hereon whether at the Stated Maturity, by acceleration, redemption, repayment or otherwise by Chevron Corporation (the “Guarantor”) in accordance with the terms set forth in Article XIV of the Indenture. 

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE
SAME EFFECT AS IF FULLY SET FORTH AT THIS PLACE. 
 This Note shall not be entitled to any benefit under the Indenture, or become valid
or obligatory for any purpose, until the Certificate of Authentication hereon endorsed shall have been executed by manual or electronic signature by the Trustee. 

IN WITNESS WHEREOF, each of the Company and the Guarantor has caused this Note to be signed by its respective Assistant Treasurer manually or
in facsimile and its corporate seal to be imprinted hereon and attested by the manual or facsimile signature of its Secretary or an Assistant Secretary. 

Dated: August __, 2020 
  

 

			
	CHEVRON U.S.A. INC.
		
	By:	 	
                     
        

	Name:
	Title:

  

							
	Attest:	  	  
	  		  	
		  	Assistant Secretary	  		  	

  
 E-1 

 
			
	CHEVRON CORPORATION, as Guarantor
		
	By:	 	
                     
        

	Name:
	Title:

  

							
	Attest:	  	  
	  		  	
		  	Assistant Secretary	  		  	

  

			
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	
	 This is one of the Securities, of the Series designated herein, described in the within-mentioned
Indenture.

	
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
		
	By:	 	
                     

		 	Authorized Signatory

  
 E-2 

 CHEVRON U.S.A. INC. 

___% NOTE DUE ____ 
 This Note is
one of a duly authorized issue of securities of the Company, not limited in aggregate principal amount, all issued or to be issued in one or more series of varying dates, numbers, interest rates and other provisions, under an Indenture dated as of
August __, 2020, as amended by the First Supplemental Indenture dated as of August __, 2020 (such indenture as so amended being herein referred to as the “Indenture”) each being among the Company, the Guarantor and the Trustee. This Note
is one of a series of Notes designated as its “___% Notes Due ____” aggregating $____________ in principal amount (herein called the “Notes”). 

Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the rights, obligations, duties and
immunities thereunder of the Company, the Guarantor, the Trustee and the holders of the Notes, to all of the provisions of which Indenture the registered owner of this Note, by acceptance hereof, assents and agrees. The Indenture contains provisions
permitting the Company, the Guarantor and the Trustee, with the consent of the holders of not less than a majority in aggregate principal amount of the Securities (which term is defined in the Indenture as any security or securities of the Company,
authenticated and delivered under the Indenture) at the time Outstanding (as defined in the Indenture) and affected by such supplemental indenture, to execute one or more supplemental indentures for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of such Securities; provided, however, that no such supplemental indenture shall,
without the consent of the holder of each Outstanding Security (including the Notes) affected thereby: (1) change the Stated Maturity (as defined in the Indenture) of the principal of, or premium, if any, or any installment of principal of or
interest on, any Security; (2) reduce the principal amount of any Security or reduce the amount of the principal of an Original Issue Discount Security (as defined in the Indenture) or any other Security which would be due and payable upon a
declaration of acceleration of the Maturity (as defined in the Indenture) thereof pursuant to Section 502, or reduce the rate of interest on any Security; (3) reduce any premium payable upon the redemption of or change the date on which
any Security may or must be redeemed; (4) change the coin or currency in which the principal of or premium, if any, or interest on any Security is payable; (5) impair the right of any holder to institute suit for the enforcement of any
such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date (as defined in the Indenture)); (6) reduce the percentage in principal amount of the Outstanding Securities of any series, the
consent of whose holders is required for any such supplemental indenture, or the consent of whose holders is required for any waiver (of compliance with certain provisions of the Indenture or certain defaults thereunder and their consequences)
provided for in the Indenture; or (7) modify any of the provisions of Sections 9.2, 5.12 or 10.5 of the Indenture, except to increase any such percentage or to provide that certain other provisions of the Indenture cannot be modified or waived
without the consent of the holder of each Outstanding Security affected thereby; provided, however, that this clause shall not be deemed to require the consent of any holder with respect to changes in the references to “the Trustee” and
concomitant changes in Sections 9.2 and 10.5 of the Indenture, or the deletion of Section 9.2(7), in accordance with the requirements of Section 6.11 and 9.1(6) of the Indenture. It is also provided in the Indenture that the holders of a
majority in principal amount of the Notes may waive (a) compliance by the Company with the covenants contained in Article X of the Indenture with respect to the Notes and (b) any past or existing Event of Default with respect to the Notes
and its consequences except a continuing default in the payment of the principal of or interest on the Notes or in respect of a covenant or provision of the Indenture which cannot be modified or amended without the consent of the registered owner of
the Note so affected. 
 Prior to _________, ____, the Notes shall be subject to redemption, at the option of the Company, in whole or in
part, at any time at a redemption price equal to the greater of (a) 100% of the principal amount of the Notes being redeemed and (b) the sum of the present values of the remaining scheduled payments of principal and interest thereon (not
including the portion of any such payments of interest accrued as of the redemption date), discounted to the redemption date on a semiannual basis, calculated assuming a 360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate, plus interest accrued on the Notes being redeemed to, but not including, the redemption date. On or after _________, ____, the Notes shall be subject to redemption, at
the option of the Company, in whole or in part, at any time at a redemption price equal to 100% of the principal amount of the Notes being redeemed plus interest accrued on the Notes being redeemed to, but not including, the redemption date. The
“Adjusted Treasury Rate” is to be determined on the third Business Day preceding the redemption date and means (1) the arithmetic mean of the yields under the heading “Week Ending” published in the Statistical Release
(hereinafter defined) most recently published prior to the date of determination under the caption “Treasury Constant Maturities” for the maturity (rounded to the nearest month) corresponding to the remaining term, as of the applicable
redemption date, of the Notes being redeemed plus (2) __%. If no maturity set forth under such heading exactly corresponds to the remaining term of the Notes being redeemed, yields for the two published maturities most closely corresponding to the
remaining term of the Notes being redeemed will be calculated as described in the preceding sentence, and the Adjusted Treasury Rate will be interpolated or extrapolated from such yields on a straight-line basis, rounding each of the relevant period
to the nearest month. The term “Statistical Release” means the statistical release designation “H.15” or any successor publication which is published weekly by the Federal Reserve System and which establishes yields on
actively-traded United States government securities adjusted to constant maturities, or, if such statistical release is not published at the time of any determination under the terms of the Notes, then such other reasonably comparable index as the
Company shall designate. As provided in the Indenture, notice of redemption shall be given to the registered owners of Notes to be redeemed by mailing a notice of such redemption not less than 10 nor more than 60 days prior to the date fixed for
redemption, to their addresses as they appear on the register books. 
 If an Event of Default (as that term is defined in the Indenture)
shall occur, the principal of all Notes and the interest accrued thereon may be declared due and payable upon the conditions, in the manner and with the effect provided in the Indenture. The Indenture provides that in certain events such declaration
and its consequences may be waived by the holders of a majority in aggregate principal amount of the Notes then Outstanding. 
 The Notes
are issuable in registered form in denominations of $2,000 and integral multiples of $1,000 in excess thereof. Notes may be exchanged for a like aggregate amount of Notes of other authorized denominations as provided in the Indenture. This Note is
transferable at the office of the Trustee by the registered owner hereof in person, or by such registered owner’s attorney duly authorized in writing, on the books of the Company at said office, but only in the manner, subject to the
limitations and upon payment of the charges provided in the Indenture, and upon surrender and cancellation of this Note. Upon such transfer a new fully registered Note or Notes of authorized denomination or denominations, for the same aggregate
principal amount will be issued to the transferee in exchange herefor. 
 The Company, the Trustee and any agent of the Company or the
Trustee and any paying agent may treat the registered owner hereof as the absolute owner of this Note (whether or not this Note shall be overdue and notwithstanding any notation of ownership or other writing hereon made by anyone other than the
Company or the Trustee) for the purpose of receiving payment hereof or on account hereof and for all other purposes, and none of the Company, the Trustee or any such agent shall be affected by notice to the contrary. 

  
 E-3 

 THIS NOTE AND THE OBLIGATIONS OF THE COMPANY AND THE GUARANTOR IN RESPECT HEREOF ARE
GOVERNED BY AND SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 No recourse shall be had for the payment of the
principal of or the interest on this Note or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as
such, past, present or future, of the Company or the Guarantor or of any successor of the Company or the Guarantor, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all
such liability being, by the acceptance hereof and as part of the consideration for the issue hereof, expressly waived and released. 

  
 E-4 

 Exhibit F 

 

			
	 $[__]
	  	CUSIP: __________
	 N-1
	  	ISIN: ___________

 CHEVRON U.S.A. INC. 

___% NOTE DUE ____ 
 UNLESS THIS NOTE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO CHEVRON U.S.A. INC. OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE EVIDENCING THE NOTE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S
NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 

CHEVRON U.S.A. INC. (herein referred to as the “Company”), a corporation duly organized and existing under the laws of the
Commonwealth of Pennsylvania, for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of [__] ($[__] ) on August __, ____ in lawful money of the United States of America and to pay interest
(computed on the basis of a 360-day year of twelve 30-day months) thereon in like money from August __, 2020 or from the most recent Interest Payment Date (hereinafter
defined) to which interest has been paid or duly provided for until payment of such principal sum, at the rate of ___% per annum, payable on each ________ __ and ________ __, commencing ________ __, 2021 (the “Interest Payment Dates”).

 The principal hereof is payable upon presentation and surrender of this Note at the principal office of Deutsche Bank Trust Company
Americas, as Trustee (herein called the “Trustee”). Interest on this Note may be payable by check or draft mailed to the person in whose name this Note is registered at the close of business on the Record Date for such interest payment at
such person’s address as it appears on the registration books of the Trustee. The Record Date for the Notes is the date which is 15 days prior to the relevant Interest Payment Date. 

Subject to the terms of the Indenture (hereinafter defined), this Security is fully and unconditionally guaranteed as to all payments due
hereon whether at the Stated Maturity, by acceleration, redemption, repayment or otherwise by Chevron Corporation (the “Guarantor”) in accordance with the terms set forth in Article XIV of the Indenture. 

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE
SAME EFFECT AS IF FULLY SET FORTH AT THIS PLACE. 
 This Note shall not be entitled to any benefit under the Indenture, or become valid
or obligatory for any purpose, until the Certificate of Authentication hereon endorsed shall have been executed by manual or electronic signature by the Trustee. 

IN WITNESS WHEREOF, each of the Company and the Guarantor has caused this Note to be signed by its respective Assistant Treasurer manually or
in facsimile and its corporate seal to be imprinted hereon and attested by the manual or facsimile signature of its Secretary or an Assistant Secretary. 

Dated: August __, 2020 
  

 

			
	CHEVRON U.S.A. INC.
		
	By:	 	
                     
        

	Name:
	Title:

  

							
	Attest:	  	  
	  		  	
		  	Assistant Secretary	  		  	

  
 F-1 

 
			
	CHEVRON CORPORATION, as Guarantor
		
	By:	 	
                     
        

	Name:
	Title:

  

							
	Attest:	  	  
	  		  	
		  	Assistant Secretary	  		  	

  

			
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	
	 This is one of the Securities, of the Series designated herein, described in the within-mentioned
Indenture.

	
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
		
	By:	 	
                     

		 	Authorized Signatory

  
 F-2 

 CHEVRON U.S.A. INC. 

___% NOTE DUE ____ 
 This Note is
one of a duly authorized issue of securities of the Company, not limited in aggregate principal amount, all issued or to be issued in one or more series of varying dates, numbers, interest rates and other provisions, under an Indenture dated as of
August __, 2020, as amended by the First Supplemental Indenture dated as of August __, 2020 (such indenture as so amended being herein referred to as the “Indenture”) each being among the Company, the Guarantor and the Trustee. This Note
is one of a series of Notes designated as its “___% Notes Due ____” aggregating $____________ in principal amount (herein called the “Notes”). 

Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the rights, obligations, duties and
immunities thereunder of the Company, the Guarantor, the Trustee and the holders of the Notes, to all of the provisions of which Indenture the registered owner of this Note, by acceptance hereof, assents and agrees. The Indenture contains provisions
permitting the Company, the Guarantor and the Trustee, with the consent of the holders of not less than a majority in aggregate principal amount of the Securities (which term is defined in the Indenture as any security or securities of the Company,
authenticated and delivered under the Indenture) at the time Outstanding (as defined in the Indenture) and affected by such supplemental indenture, to execute one or more supplemental indentures for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of such Securities; provided, however, that no such supplemental indenture shall,
without the consent of the holder of each Outstanding Security (including the Notes) affected thereby: (1) change the Stated Maturity (as defined in the Indenture) of the principal of, or premium, if any, or any installment of principal of or
interest on, any Security; (2) reduce the principal amount of any Security or reduce the amount of the principal of an Original Issue Discount Security (as defined in the Indenture) or any other Security which would be due and payable upon a
declaration of acceleration of the Maturity (as defined in the Indenture) thereof pursuant to Section 502, or reduce the rate of interest on any Security; (3) reduce any premium payable upon the redemption of or change the date on which
any Security may or must be redeemed; (4) change the coin or currency in which the principal of or premium, if any, or interest on any Security is payable; (5) impair the right of any holder to institute suit for the enforcement of any
such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date (as defined in the Indenture)); (6) reduce the percentage in principal amount of the Outstanding Securities of any series, the
consent of whose holders is required for any such supplemental indenture, or the consent of whose holders is required for any waiver (of compliance with certain provisions of the Indenture or certain defaults thereunder and their consequences)
provided for in the Indenture; or (7) modify any of the provisions of Sections 9.2, 5.12 or 10.5 of the Indenture, except to increase any such percentage or to provide that certain other provisions of the Indenture cannot be modified or waived
without the consent of the holder of each Outstanding Security affected thereby; provided, however, that this clause shall not be deemed to require the consent of any holder with respect to changes in the references to “the Trustee” and
concomitant changes in Sections 9.2 and 10.5 of the Indenture, or the deletion of Section 9.2(7), in accordance with the requirements of Section 6.11 and 9.1(6) of the Indenture. It is also provided in the Indenture that the holders of a
majority in principal amount of the Notes may waive (a) compliance by the Company with the covenants contained in Article X of the Indenture with respect to the Notes and (b) any past or existing Event of Default with respect to the Notes
and its consequences except a continuing default in the payment of the principal of or interest on the Notes or in respect of a covenant or provision of the Indenture which cannot be modified or amended without the consent of the registered owner of
the Note so affected. 
 Prior to _________, ____, the Notes shall be subject to redemption, at the option of the Company, in whole or in
part, at any time at a redemption price equal to the greater of (a) 100% of the principal amount of the Notes being redeemed and (b) the sum of the present values of the remaining scheduled payments of principal and interest thereon (not
including the portion of any such payments of interest accrued as of the redemption date), discounted to the redemption date on a semiannual basis, calculated assuming a 360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate, plus interest accrued on the Notes being redeemed to, but not including, the redemption date. On or after _________, ____, the Notes shall be subject to redemption, at
the option of the Company, in whole or in part, at any time at a redemption price equal to 100% of the principal amount of the Notes being redeemed plus interest accrued on the Notes being redeemed to, but not including, the redemption date. The
“Adjusted Treasury Rate” is to be determined on the third Business Day preceding the redemption date and means (1) the arithmetic mean of the yields under the heading “Week Ending” published in the Statistical Release
(hereinafter defined) most recently published prior to the date of determination under the caption “Treasury Constant Maturities” for the maturity (rounded to the nearest month) corresponding to the remaining term, as of the applicable
redemption date, of the Notes being redeemed plus (2) __%. If no maturity set forth under such heading exactly corresponds to the remaining term of the Notes being redeemed, yields for the two published maturities most closely corresponding to the
remaining term of the Notes being redeemed will be calculated as described in the preceding sentence, and the Adjusted Treasury Rate will be interpolated or extrapolated from such yields on a straight-line basis, rounding each of the relevant period
to the nearest month. The term “Statistical Release” means the statistical release designation “H.15” or any successor publication which is published weekly by the Federal Reserve System and which establishes yields on
actively-traded United States government securities adjusted to constant maturities, or, if such statistical release is not published at the time of any determination under the terms of the Notes, then such other reasonably comparable index as the
Company shall designate. As provided in the Indenture, notice of redemption shall be given to the registered owners of Notes to be redeemed by mailing a notice of such redemption not less than 10 nor more than 60 days prior to the date fixed for
redemption, to their addresses as they appear on the register books. 
 If an Event of Default (as that term is defined in the Indenture)
shall occur, the principal of all Notes and the interest accrued thereon may be declared due and payable upon the conditions, in the manner and with the effect provided in the Indenture. The Indenture provides that in certain events such declaration
and its consequences may be waived by the holders of a majority in aggregate principal amount of the Notes then Outstanding. 
 The Notes
are issuable in registered form in denominations of $2,000 and integral multiples of $1,000 in excess thereof. Notes may be exchanged for a like aggregate amount of Notes of other authorized denominations as provided in the Indenture. This Note is
transferable at the office of the Trustee by the registered owner hereof in person, or by such registered owner’s attorney duly authorized in writing, on the books of the Company at said office, but only in the manner, subject to the
limitations and upon payment of the charges provided in the Indenture, and upon surrender and cancellation of this Note. Upon such transfer a new fully registered Note or Notes of authorized denomination or denominations, for the same aggregate
principal amount will be issued to the transferee in exchange herefor. 
 The Company, the Trustee and any agent of the Company or the
Trustee and any paying agent may treat the registered owner hereof as the absolute owner of this Note (whether or not this Note shall be overdue and notwithstanding any notation of ownership or other writing hereon made by anyone other than the
Company or the Trustee) for the purpose of receiving payment hereof or on account hereof and for all other purposes, and none of the Company, the Trustee or any such agent shall be affected by notice to the contrary. 

  
 F-3 

 THIS NOTE AND THE OBLIGATIONS OF THE COMPANY AND THE GUARANTOR IN RESPECT HEREOF ARE
GOVERNED BY AND SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 No recourse shall be had for the payment of the
principal of or the interest on this Note or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as
such, past, present or future, of the Company or the Guarantor or of any successor of the Company or the Guarantor, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all
such liability being, by the acceptance hereof and as part of the consideration for the issue hereof, expressly waived and released. 

  
 F-4 

 Exhibit G 

 

			
	 $[__]
	  	CUSIP: __________
	 N-1
	  	ISIN: ___________

 CHEVRON U.S.A. INC. 

___% NOTE DUE ____ 
 UNLESS THIS NOTE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO CHEVRON U.S.A. INC. OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE EVIDENCING THE NOTE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH
SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 

CHEVRON U.S.A. INC. (herein referred to as the “Company”), a corporation duly organized and existing under the laws of the
Commonwealth of Pennsylvania, for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of [__] ($[__] ) on August __, ____ in lawful money of the United States of America and to pay interest
(computed on the basis of a 360-day year of twelve 30-day months) thereon in like money from August __, 2020 or from the most recent Interest Payment Date (hereinafter
defined) to which interest has been paid or duly provided for until payment of such principal sum, at the rate of ___% per annum, payable on each ________ __ and ________ __, commencing ________ __, 2021 (the “Interest Payment Dates”).

 The principal hereof is payable upon presentation and surrender of this Note at the principal office of Deutsche Bank Trust Company
Americas, as Trustee (herein called the “Trustee”). Interest on this Note may be payable by check or draft mailed to the person in whose name this Note is registered at the close of business on the Record Date for such interest payment at
such person’s address as it appears on the registration books of the Trustee. The Record Date for the Notes is the date which is 15 days prior to the relevant Interest Payment Date. 

Subject to the terms of the Indenture (hereinafter defined), this Security is fully and unconditionally guaranteed as to all payments due
hereon whether at the Stated Maturity, by acceleration, redemption, repayment or otherwise by Chevron Corporation (the “Guarantor”) in accordance with the terms set forth in Article XIV of the Indenture. 

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE
SAME EFFECT AS IF FULLY SET FORTH AT THIS PLACE. 
 This Note shall not be entitled to any benefit under the Indenture, or become valid
or obligatory for any purpose, until the Certificate of Authentication hereon endorsed shall have been executed by manual or electronic signature by the Trustee. 

IN WITNESS WHEREOF, each of the Company and the Guarantor has caused this Note to be signed by its respective Assistant Treasurer manually or
in facsimile and its corporate seal to be imprinted hereon and attested by the manual or facsimile signature of its Secretary or an Assistant Secretary. 

Dated: August __, 2020 
  

			
	CHEVRON U.S.A. INC.
		
	By:	 	
                     
        

	Name:
	Title:

  

							
	Attest:	  	  
	  		  	
		  	Assistant Secretary	  		  	

  
 G-1 

 
			
	CHEVRON CORPORATION, as Guarantor
		
	By:	 	
                     
        

	Name:
	Title:

  

							
	Attest:	  	  
	  		  	
		  	Assistant Secretary	  		  	

  

			
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	
	 This is one of the Securities, of the Series designated herein, described in the within-mentioned
Indenture.

	
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
		
	By:	 	
                     

		 	Authorized Signatory

  
 G-2 

 CHEVRON U.S.A. INC. 

___% NOTE DUE ____ 
 This Note is
one of a duly authorized issue of securities of the Company, not limited in aggregate principal amount, all issued or to be issued in one or more series of varying dates, numbers, interest rates and other provisions, under an Indenture dated as of
August __, 2020, as amended by the First Supplemental Indenture dated as of August __, 2020 (such indenture as so amended being herein referred to as the “Indenture”) each being among the Company, the Guarantor and the Trustee. This Note
is one of a series of Notes designated as its “___% Notes Due ____” aggregating $____________ in principal amount (herein called the “Notes”). 

Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the rights, obligations, duties and
immunities thereunder of the Company, the Guarantor, the Trustee and the holders of the Notes, to all of the provisions of which Indenture the registered owner of this Note, by acceptance hereof, assents and agrees. The Indenture contains provisions
permitting the Company, the Guarantor and the Trustee, with the consent of the holders of not less than a majority in aggregate principal amount of the Securities (which term is defined in the Indenture as any security or securities of the Company,
authenticated and delivered under the Indenture) at the time Outstanding (as defined in the Indenture) and affected by such supplemental indenture, to execute one or more supplemental indentures for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of such Securities; provided, however, that no such supplemental indenture shall,
without the consent of the holder of each Outstanding Security (including the Notes) affected thereby: (1) change the Stated Maturity (as defined in the Indenture) of the principal of, or premium, if any, or any installment of principal of or
interest on, any Security; (2) reduce the principal amount of any Security or reduce the amount of the principal of an Original Issue Discount Security (as defined in the Indenture) or any other Security which would be due and payable upon a
declaration of acceleration of the Maturity (as defined in the Indenture) thereof pursuant to Section 502, or reduce the rate of interest on any Security; (3) reduce any premium payable upon the redemption of or change the date on which
any Security may or must be redeemed; (4) change the coin or currency in which the principal of or premium, if any, or interest on any Security is payable; (5) impair the right of any holder to institute suit for the enforcement of any
such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date (as defined in the Indenture)); (6) reduce the percentage in principal amount of the Outstanding Securities of any series, the
consent of whose holders is required for any such supplemental indenture, or the consent of whose holders is required for any waiver (of compliance with certain provisions of the Indenture or certain defaults thereunder and their consequences)
provided for in the Indenture; or (7) modify any of the provisions of Sections 9.2, 5.12 or 10.5 of the Indenture, except to increase any such percentage or to provide that certain other provisions of the Indenture cannot be modified or waived
without the consent of the holder of each Outstanding Security affected thereby; provided, however, that this clause shall not be deemed to require the consent of any holder with respect to changes in the references to “the Trustee” and
concomitant changes in Sections 9.2 and 10.5 of the Indenture, or the deletion of Section 9.2(7), in accordance with the requirements of Section 6.11 and 9.1(6) of the Indenture. It is also provided in the Indenture that the holders of a
majority in principal amount of the Notes may waive (a) compliance by the Company with the covenants contained in Article X of the Indenture with respect to the Notes and (b) any past or existing Event of Default with respect to the Notes
and its consequences except a continuing default in the payment of the principal of or interest on the Notes or in respect of a covenant or provision of the Indenture which cannot be modified or amended without the consent of the registered owner of
the Note so affected. 
 Prior to _________, ____, the Notes shall be subject to redemption, at the option of the Company, in whole or in
part, at any time at a redemption price equal to the greater of (a) 100% of the principal amount of the Notes being redeemed and (b) the sum of the present values of the remaining scheduled payments of principal and interest thereon (not
including the portion of any such payments of interest accrued as of the redemption date), discounted to the redemption date on a semiannual basis, calculated assuming a 360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate, plus interest accrued on the Notes being redeemed to, but not including, the redemption date. On or after _________, ____, the Notes shall be subject to redemption, at
the option of the Company, in whole or in part, at any time at a redemption price equal to 100% of the principal amount of the Notes being redeemed plus interest accrued on the Notes being redeemed to, but not including, the redemption date. The
“Adjusted Treasury Rate” is to be determined on the third Business Day preceding the redemption date and means (1) the arithmetic mean of the yields under the heading “Week Ending” published in the Statistical Release
(hereinafter defined) most recently published prior to the date of determination under the caption “Treasury Constant Maturities” for the maturity (rounded to the nearest month) corresponding to the remaining term, as of the applicable
redemption date, of the Notes being redeemed plus (2) __%. If no maturity set forth under such heading exactly corresponds to the remaining term of the Notes being redeemed, yields for the two published maturities most closely corresponding to the
remaining term of the Notes being redeemed will be calculated as described in the preceding sentence, and the Adjusted Treasury Rate will be interpolated or extrapolated from such yields on a straight-line basis, rounding each of the relevant period
to the nearest month. The term “Statistical Release” means the statistical release designation “H.15” or any successor publication which is published weekly by the Federal Reserve System and which establishes yields on
actively-traded United States government securities adjusted to constant maturities, or, if such statistical release is not published at the time of any determination under the terms of the Notes, then such other reasonably comparable index as the
Company shall designate. As provided in the Indenture, notice of redemption shall be given to the registered owners of Notes to be redeemed by mailing a notice of such redemption not less than 10 nor more than 60 days prior to the date fixed for
redemption, to their addresses as they appear on the register books. 
 If an Event of Default (as that term is defined in the Indenture)
shall occur, the principal of all Notes and the interest accrued thereon may be declared due and payable upon the conditions, in the manner and with the effect provided in the Indenture. The Indenture provides that in certain events such declaration
and its consequences may be waived by the holders of a majority in aggregate principal amount of the Notes then Outstanding. 
 The Notes
are issuable in registered form in denominations of $2,000 and integral multiples of $1,000 in excess thereof. Notes may be exchanged for a like aggregate amount of Notes of other authorized denominations as provided in the Indenture. This Note is
transferable at the office of the Trustee by the registered owner hereof in person, or by such registered owner’s attorney duly authorized in writing, on the books of the Company at said office, but only in the manner, subject to the
limitations and upon payment of the charges provided in the Indenture, and upon surrender and cancellation of this Note. Upon such transfer a new fully registered Note or Notes of authorized denomination or denominations, for the same aggregate
principal amount will be issued to the transferee in exchange herefor. 
 The Company, the Trustee and any agent of the Company or the
Trustee and any paying agent may treat the registered owner hereof as the absolute owner of this Note (whether or not this Note shall be overdue and notwithstanding any notation of ownership or other writing hereon made by anyone other than the
Company or the Trustee) for the purpose of receiving payment hereof or on account hereof and for all other purposes, and none of the Company, the Trustee or any such agent shall be affected by notice to the contrary. 

  
 G-3 

 THIS NOTE AND THE OBLIGATIONS OF THE COMPANY AND THE GUARANTOR IN RESPECT HEREOF ARE
GOVERNED BY AND SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 No recourse shall be had for the payment of the
principal of or the interest on this Note or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as
such, past, present or future, of the Company or the Guarantor or of any successor of the Company or the Guarantor, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all
such liability being, by the acceptance hereof and as part of the consideration for the issue hereof, expressly waived and released. 

  
 G-4Document

						
	Loan No. 1013159

	Exhibit 10.2

SECOND AMENDMENT TO AMENDED AND RESTATED REVOLVING LOAN AGREEMENT AND OMNIBUS AMENDMENT TO LOAN DOCUMENTS
        
        THIS SECOND AMENDMENT TO AMENDED AND RESTATED REVOLVING LOAN AGREEMENT AND OMNIBUS AMENDMENT TO LOAN DOCUMENTS (this “Agreement”) dated as of June 30, 2020, is entered into by and among RPT ANAHEIM HILLS OFFICE PLAZA, LLC, RPT HERITAGE PARKWAY, LLC, RPT TERRA NOVA PLAZA, LLC, RPT LOUDOUN GATEWAY I, LLC, RPT ALLIED DRIVE, LLC, RPT PALMETTO LAKES, LLC, RPT HIALEAH I, LLC, and RPT HIALEAH II, LLC, each a Delaware limited liability company (individually or collectively, “Borrower,” and with such term meaning “any Borrower,” “each Borrower,” “a Borrower,” “every Borrower” or “all Borrowers,” as the context indicates, as determined by Administrative Agent in its reasonable discretion), each of the financial institutions a signatory hereto together with their successors and assignees under Section 12.6 of the Loan Agreement (as defined below) (collectively, the “Lenders”), and Wells Fargo Bank, National Association (“Administrative Agent”).

RECITALS

A.Pursuant to the terms of that certain Amended and Restated Revolving Loan Agreement and Omnibus Amendment to Loan Documents, dated as of February 27, 2018, by and between certain Borrowers, Lenders and Administrative Agent (as amended pursuant to that certain First Amendment to Amended and Restated Revolving Loan Agreement and Omnibus Amendment to Loan Documents dated as of November 13, 2019, and as otherwise amended prior to the date hereof and as joined into by certain other Borrowers, the “Loan Agreement”), Lenders have agreed to make loans to Borrowers in the original maximum principal amount of One Hundred Million Dollars ($100,000,000) (the “Loan”). The Loan is evidenced by that certain Fifth Amended and Restated Promissory Note, dated as of December 31, 2018, made by certain of the Borrowers and payable to the order of Wells Fargo Bank, National Association, in the maximum principal amount of the Loan (as amended prior to the date hereof, the “Note”) and is further evidenced and secured by certain other documents described in the Loan Agreement as Loan Documents.

B.The Loan Agreement is secured by the Security Deeds (as defined in the Loan Agreement) (collectively, as amended prior to the date hereof, the “Security Instruments”). 

C.The real property which is the subject of each of the Security Instruments is referred to hereinafter, collectively, as the “Property”.

D.RREEF Property Trust, Inc., a Maryland corporation (“Guarantor”) has previously executed and delivered to Administrative Agent that certain Guaranty Agreement, dated as of March 6, 2015 (as amended prior to the date hereof, the “Guaranty”). 

E.Certain Borrowers and Guarantor (in such capacity, individually and collectively, “Indemnitor”) have previously executed and delivered to Administrative Agent that certain Hazardous Materials Indemnity Agreement, dated as of March 6, 2015 (as amended prior to the date hereof and joined into by certain other Borrowers, the “Indemnity”). 

F.The Note, the Loan Agreement, the Security Instruments, the Guaranty, Indemnity, this Agreement and the other documents described in the Loan Agreement as Loan Documents, 

Loan No. 1013159‎ 

together with all modifications, extensions, renewals and amendments thereto pursuant to the terms hereof or otherwise, are collectively referred to hereinafter as the “Loan Documents”.

G.By this Agreement, Borrowers, Administrative Agent and Lenders intend to modify and/or amend certain terms and provisions of the Loan Documents as of the Effective Date, hereinafter defined.

        NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Borrowers, Administrative Agent and Lenders agree, subject to the terms and conditions of this Agreement, as follows:

1. CONDITIONS PRECEDENT. Administrative Agent’s and Lenders’ obligations under this Agreement are subject to the satisfaction of each and every one of the following conditions precedent:

1.1 There shall exist no Default, as defined in any of the Loan Documents, or event, omission or failure of any condition which would constitute a Default after notice or lapse of time, or both.

1.2 Receipt and approval by Administrative Agent of an executed original of this Agreement and any and all other documents, instruments, policies and forms of evidence or other materials which are required pursuant to this Agreement or any of the other Loan Documents or as otherwise required by Administrative Agent, each in form and content acceptable to Administrative Agent. 

1.3 Reimbursement to Administrative Agent by Borrowers of Administrative Agent’s and Lenders’ costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby, whether such services are furnished by Administrative Agent’s employees or agents or by independent contractors, including, without limitation, reasonable attorneys’ fees, documentation costs and charges.

1.4 The representations and warranties contained in this Agreement are true and correct.

1.5 All payments due and owing to Administrative Agent and Lenders under the Loan Documents have been paid current as of the Effective Date of this Agreement.

1.6 As of the date hereof, Borrowers are in compliance in all material respects with all terms, covenants and conditions of the Loan Agreement, including, without limitation, all financial and reporting covenants and requirements.

2. REPRESENTATIONS AND WARRANTIES. As a material inducement to Administrative Agent’s and Lenders’ entry into this Agreement, Borrowers represent and warrant to Administrative Agent and Lenders as of the Effective Date and continuing thereafter that: 

2.1 Formation and Organizational Documents. Each Borrower has previously delivered to Administrative Agent all of the relevant formation and organizational documents of such Borrower (and the partners, members, managers or joint venturers of such Borrower (if any)), and Guarantor (and the partners, members, managers or joint venturers of all such Guarantors (if any)). Borrowers hereby certify that: (i) the above documents are all of the relevant formation and organizational documents of Borrowers and Guarantor; (ii) they 
2

Loan No. 1013159‎ 

remain in full force and effect; and (iii) they have not been amended or modified since they were previously delivered to Administrative Agent. 

2.2 Full Force and Effect. The Note and other Loan Documents, as amended hereby and by the Note, are in full force and effect without any defense, counterclaim, right or claim of set-off; all necessary action to authorize the execution and delivery of this Agreement has been taken; and this Agreement is a modification of an existing obligation and is not a novation.

2.3 No Default. No Default (as defined in the any of the Loan Documents), breach or failure of condition has occurred, or would exist with notice or the lapse of time or both, under any Security Instrument or any of the Loan Documents (as modified by this Agreement) and that all representations and warranties herein and in the other Loan Documents are true and correct, except to the extent such representations and warranties expressly relate solely to an ‎earlier date (in which case such representations and warranties shall have been true ‎and accurate on and as of such earlier date) and except for changes in factual ‎circumstances expressly permitted by the Loan Agreement. 

2.4 Title to the Property. Since the recordation date of each Security Instrument, each Borrower has not further encumbered its respective Property, including, without limitation, by entering into any deed of trust, deed to secure debt or mortgage, ground lease, and/or any option to purchase or right of first refusal with respect to any Property. 

2.5 Intervening Liens. The lien of each Security Instrument is a first lien on the property described therein and covered thereby and that this Agreement will not cause intervening liens to become prior to the lien of any Security Instrument. If any intervening lien exists or hereafter arises, the applicable Borrower shall cause the same to be released or subordinated to the lien of the applicable Security Instrument, without limiting any other right or remedy available to Administrative Agent. No Borrower has any legal or equitable claim against any mortgagor, trustor or grantor named in any Security Instrument which would be prior to the lien of the Security Instrument, or which would entitle such Borrower to a judgment entitling such Borrower to an equitable lien on all or any portion of that property prior in lien to any Security Instrument. 

3. EFFECTIVE DATE. The effective date of the obligations of Borrowers, Administrative Agent and Lenders under this Agreement shall be the date set forth in the first paragraph of this Agreement (the “Effective Date”).

4. MODIFICATION OF LOAN DOCUMENTS. The Loan Documents are hereby supplemented and modified to incorporate the following, which shall supersede and prevail over any conflicting provisions of the Loan Documents: 

4.1 Minimum Tangible Net Worth Amount. Section 1.1 of the Loan Agreement is hereby amended by amending and restating the definition of “Minimum Tangible Net Worth Amount” in its entirety as follows:‎ 

““Minimum Tangible Net Worth Amount” means an amount greater than or equal to the sum of: (a) $79,000,000; plus (b) an amount equal to 85% of the aggregate amount of Net Proceeds from Equity Issuances received by Guarantor since June 30, 2020. Minimum Tangible Net Worth Amount shall be recalculated by Administrative Agent at 
3

Loan No. 1013159‎ 

the end of each calendar quarter upon receipt of each Compliance Certificate described in Section 8.12(g) below.”‎ ‎

4.2 Gross Operating Income for Allstate Lease. Notwithstanding any provision of the Loan Agreement requiring Gross Operating Income to be calculated on a cash basis, Gross Operating Income shall include all rent that would have been payable under the Tenant Lease with Allstate Insurance at the Property located at 9022 Heritage Parkway, Woodridge, Illinois, during the rent abatement periods granted pursuant to such Tenant Lease in June 2020, July 2020 and August 2020, and December 2020, January 2021 and February 2021. None of the foregoing shall be deemed to modify the calculation of Gross Operating Income with respect to any other Tenant Lease.

4.3 Testing Debt Yield For 2nd Quarter 2020. Notwithstanding any provision of the Loan Agreement to the contrary, and regardless of what such Testing Debt Yield would actually be, if calculated, the Testing Debt Yield for Borrower’s second fiscal quarter of 2020 shall be deemed to be equal to the Testing Debt Yield for Borrower’s first fiscal quarter of 2020. 

5. CURRENT MINIMUM TANGIBLE NET WORTH AMOUNT. Until the delivery to Administrative Agent of the first Compliance Certificate after the Effective Date, the Minimum Tangible Net Worth Amount shall be $79,000,000.

6. HAZARDOUS MATERIALS. Without in any way limiting any other provision of this Agreement, Borrower expressly reaffirms as of the date hereof, and continuing hereafter: (i) each and every representation and warranty in the Loan Documents respecting “Hazardous Materials”; and (ii) each and every covenant and indemnity in the Loan Documents respecting “Hazardous Materials”. 

7. WAIVERS. In further consideration of Administrative Agent and Lenders entering into this Agreement, Borrowers waive, with respect to the Loan any and all rights to which such Borrower is or may be entitled pursuant to any antideficiency or similar laws which limit, qualify or reduce Borrowers’ obligations under the Loan Documents. 

8. WAIVER OF MARSHALLING RIGHTS. Borrowers waive all rights to have all or part of any Property covered by a Security Instrument marshalled upon any foreclosure of such Security Instrument. Administrative Agent shall have the right to sell, and any court in which foreclosure proceedings may be brought shall have the right to order a sale of any real property of each or any of said deeds of trust, deeds to secure debt or mortgages, or any part thereof, as a whole or in separate parcels, in any order that Administrative Agent may designate. Borrowers make this waiver for itself, and for all persons and entities claiming through or under Borrowers, and for persons and entities who may acquire a lien on all or any part of the real property described in either of said deeds of trust, deeds to secure debt or mortgages, or on any interest therein.

9. NON-IMPAIRMENT. Except as expressly provided herein, nothing in this Agreement shall alter or affect any provision, condition, or covenant contained in any of the Loan Documents or affect or impair any rights, powers, or remedies of Administrative Agent, it being the intent of the parties hereto that the provisions of the Loan Documents shall continue in full force and effect except as expressly modified hereby.

10. MISCELLANEOUS PROVISIONS. 
4

Loan No. 1013159‎ 

10.1 No Waiver. No previous waiver and no failure or delay by Administrative Agent or Lenders in acting with respect to the terms of the Note or this Agreement shall constitute a waiver of any breach, default, or failure of condition under the Note, this Agreement or the obligations secured thereby. A waiver of any term of the Note, this Agreement or of any of the obligations secured thereby must be made in writing and shall be limited to the express written terms of such waiver. 

10.2 Severability. If any provision or obligation under this Agreement and the other Loan Documents shall be determined by a court of competent jurisdiction to be invalid, illegal or unenforceable, that provision shall be deemed severed from the Loan Documents and the validity, legality and enforceability of the remaining provisions or obligations shall remain in full force as though the invalid, illegal, or unenforceable provision had never been a part of the Loan Documents, provided, however, that if the rate of interest or any other amount payable under the Note or this Agreement or any other Loan Document, or the right of collectability therefore, are declared to be or become invalid, illegal or unenforceable, Lenders’ obligations to make advances under the Loan Documents shall not be enforceable by Borrowers.

10.3 Time. Time is of the essence of each and every term herein.

10.4 Governing Law and Consent to Jurisdiction. This Agreement and any claim, controversy or dispute arising under or related to this Agreement, the relationship of the parties, and/or the interpretation and enforcement of the rights and duties of the parties will be governed by, and construed and enforced in accordance with, the laws of the State of New York without regard to any conflicts of law principles, except to the extent preempted by federal laws. Borrowers and all persons and entities in any manner obligated to Administrative Agent and/or Lenders under the Loan Documents consent to the jurisdiction of any federal or state court within the State of New York having proper venue and also consent to service of process by any means authorized by New York or federal law.

10.5 Joint and Several Liability. The liability of each Borrower under any of the Loan Documents shall be joint and several with each other Borrower and the liability of each Guarantor under any of the Loan Documents shall be joint and several with each other Guarantor.

10.6 Headings. All article, section or other headings appearing in this Agreement and any of the other Loan Documents are for convenience of reference only and shall be disregarded in construing this Agreement and any of the other Loan Documents.

10.7 Counterparts. To facilitate execution, this document may be executed in as many counterparts as may be convenient or required. It shall not be necessary that the signature of, or on behalf of, each party, or that the signature of all persons required to bind any party, appear on each counterpart. All counterparts shall collectively constitute a single document. It shall not be necessary in making proof of this document to produce or account for more than a single counterpart containing the respective signatures of, or on behalf of, each of the parties hereto. Any signature page to any counterpart may be detached from such counterpart without impairing the legal effect of the signatures 
5

Loan No. 1013159‎ 

thereon and thereafter attached to another counterpart identical thereto except having attached to it additional signature pages.

10.8 Defined Terms. Unless otherwise defined herein, capitalized terms used in this Agreement shall have the meanings attributed to such terms in the Loan Agreement.

10.9 Rules of Construction. The word “Borrowers” as used herein shall include both the named Borrowers and any other person at any time assuming or otherwise becoming primarily liable for all or any part of the obligations of the named Borrower under the Note and the other Loan Documents. The term “person” as used herein shall include any individual, company, trust or other legal entity of any kind whatsoever. If this Agreement is executed by more than one person, the term “Borrowers” shall include all such persons. The words “Administrative Agent” as used herein shall include Administrative Agent, its successors, assigns and affiliates. The word “Lenders” as used herein shall include each Lender, its successors, assigns and affiliates. 

10.10 Use of Singular and Plural; Gender. When the identity of the parties or other circumstances make it appropriate, the singular number includes the plural, and the masculine gender includes the feminine and/or neuter. 

10.11 Exhibits, Schedules and Riders. All exhibits, schedules, riders and other items attached hereto, if any, are incorporated into this Agreement by such attachment for all purposes. 

10.12 Inconsistencies. In the event of any inconsistencies between the terms of this Agreement and the terms of any of the other Loan Documents, the terms of this Agreement shall prevail. 

10.13 Integration; Interpretation. The Loan Documents contain or expressly incorporate by reference the entire agreement of the parties with respect to the matters contemplated therein and supersede all prior negotiations or agreements, written or oral. The Loan Documents shall not be modified except by written instrument executed by all parties. Any reference to the Loan Documents includes any amendments, renewals or extensions now or hereafter approved by Administrative Agent in writing. 

[Signature Appears on Following Page]

6

        IN WITNESS WHEREOF, Administrate Agent, Borrower and Lenders have caused this Agreement to be duly executed and delivered as of the date first above written.
‎
“ADMINISTRATIVE AGENT”‎

						
	WELLS FARGO BANK, NATIONAL ASSOCIATION,  
as Administrative Agent 
	
		
	By:	/s/ Jeffrey Goodman
	Name:	Jeffrey Goodman
	Title:	Vice President

[Signatures Continue on Following Page]

Signature Page to Second Amendment to Amended and Restated Revolving Loan Agreement 
and Omnibus Amendment to Loan Documents

Loan No. 1013159‎ 

“LENDERS”‎

						
	WELLS FARGO BANK, NATIONAL ASSOCIATION,  
as a Lender
	
		
	By:	/s/ Jeffrey Goodman
	Name:	Jeffrey Goodman
	Title:	Vice President

[Signatures Continue on Following Page]

Signature Page to Second Amendment to Amended and Restated Revolving Loan Agreement 
and Omnibus Amendment to Loan Documents

Loan No. 1013159‎ 

“BORROWERS”
						
	RPT TERRA NOVA PLAZA, LLC, 
a Delaware limited liability company	
		
	By:	/s/ Anne-Marie Vandenberg
	Name:	Anne-Marie Vandenberg
	Title:	Authorized Signatory
		
	By:	/s/ Kristin Strange
	Name:	Kristin Strange
	Title:	Authorized Signatory

						
	RPT HERITAGE PARKWAY, LLC, 
a Delaware limited liability company
	
		
	By:	/s/ Anne-Marie Vandenberg
	Name:	Anne-Marie Vandenberg
	Title:	Authorized Signatory
		
	By:	/s/ Kristin Strange
	Name:	Kristin Strange
	Title:	Authorized Signatory

						
	RPT ANAHEIM HILLS OFFICE PLAZA, LLC, 
a Delaware limited liability company
	
		
	By:	/s/ Anne-Marie Vandenberg
	Name:	Anne-Marie Vandenberg
	Title:	Authorized Signatory
		
	By:	/s/ Kristin Strange
	Name:	Kristin Strange
	Title:	Authorized Signatory

[Signatures Continue on Following Page]

Signature Page to Second Amendment to Amended and Restated Revolving Loan Agreement 
and Omnibus Amendment to Loan Documents

Loan No. 1013159‎ 

						
	RPT LOUDOUN GATEWAY I, LLC, 
a Delaware limited liability company
	
		
	By:	/s/ Anne-Marie Vandenberg
	Name:	Anne-Marie Vandenberg
	Title:	Authorized Signatory
		
	By:	/s/ Kristin Strange
	Name:	Kristin Strange
	Title:	Authorized Signatory

						
	RPT ALLIED DRIVE, LLC, 
a Delaware limited liability company
	
		
	By:	/s/ Anne-Marie Vandenberg
	Name:	Anne-Marie Vandenberg
	Title:	Authorized Signatory
		
	By:	/s/ Kristin Strange
	Name:	Kristin Strange
	Title:	Authorized Signatory

						
	RPT PALMETTO LAKES, LLC,
a Delaware limited liability company
	
		
	By:	/s/ Anne-Marie Vandenberg
	Name:	Anne-Marie Vandenberg
	Title:	Authorized Signatory
		
	By:	/s/ Kristin Strange
	Name:	Kristin Strange
	Title:	Authorized Signatory

[Signatures Continue on Following Page]

Signature Page to Second Amendment to Amended and Restated Revolving Loan Agreement 
and Omnibus Amendment to Loan Documents

Loan No. 1013159‎ 

						
	RPT HIALEAH I, LLC, 
a Delaware limited liability company
	
		
	By:	/s/ Anne-Marie Vandenberg
	Name:	Anne-Marie Vandenberg
	Title:	Authorized Signatory
		
	By:	/s/ Kristin Strange
	Name:	Kristin Strange
	Title:	Authorized Signatory

						
	RPT HIALEAH II, LLC, 
a Delaware limited liability company
	
		
	By:	/s/ Anne-Marie Vandenberg
	Name:	Anne-Marie Vandenberg
	Title:	Authorized Signatory
		
	By:	/s/ Kristin Strange
	Name:	Kristin Strange
	Title:	Authorized Signatory

Signature Page to Second Amendment to Amended and Restated Revolving Loan Agreement 
and Omnibus Amendment to Loan Documents

Loan No. 1013159‎ 

GUARANTOR CONSENT

As of June 30, 2020, the undersigned (“Guarantor”) consents to the foregoing Second Amendment to Amended and Restated Revolving Loan Agreement and Omnibus Amendment to Loan Documents (the “Modification Agreement”) and the transactions contemplated thereby, and reaffirms its obligations under that certain Guaranty Agreement, dated as of March 6, 2015 (as the same may be amended, modified, supplemented or replaced from time to time, the “Guaranty”). Guarantor has no defenses, set offs, counterclaims, discounts or charges of ‎any kind against the Indemnified Parties with respect to the Guaranty. All of the terms, ‎conditions and covenants in the Guaranty remain unaltered and in full force and effect and are ‎hereby ratified and confirmed and apply to the Obligations, as modified by the Agreement, subject to the limitations on liability set forth in the Guaranty‎. 

Guarantor reaffirms that its obligations under the Guaranty are separate and distinct from Borrower’s obligations and reaffirms its waivers, as set forth in the Guaranty, of each and every one of the possible defenses to such obligations.

 [Signature Appears on Following Page]

Guarantor Consent to Second Amendment to Amended and Restated Revolving Loan Agreement 
and Omnibus Amendment to Loan Documents

Loan No. 1013159‎ 

Agreed and Acknowledged:

“GUARANTOR”  ‎ 

						
	RPT PROPERTY TRUST, INC., 
a Maryland corporation
	
		
	By:	/s/ Anne-Marie Vandenberg
	Name:	Anne-Marie Vandenberg
	Title:	President

Guarantor Consent to Second Amendment to Amended and Restated Revolving Loan Agreement 
and Omnibus Amendment to Loan Documents

 HAZARDOUS INDEMNITOR CONSENT

As of June 30, 2020, the undersigned (“Indemnitor”) consents to the foregoing Second Amendment to Amended and Restated Revolving Loan Agreement and Omnibus Amendment to Loan Documents (the “Modification Agreement”) and the transactions contemplated thereby, and reaffirms its obligations under that certain Hazardous Materials Indemnity Agreement, dated as of March 6, 2015 (as the same may be amended, modified, supplemented or replaced from time to time, the “Indemnity”). Indemnitor has no defenses, set offs, counterclaims, discounts or charges of any kind against the Indemnified Parties with respect to the Indemnity. All of the terms, conditions and covenants in the Indemnity remain unaltered and in full force and effect and are hereby ratified and confirmed. 

Indemnitor reaffirms that its obligations under the Indemnity are separate and distinct from Borrower’s obligations, and reaffirms its waivers, as set forth in the Indemnity, of each and every one of the possible defenses to such obligations. 

[Signature Appears on Following Page]

Signature Page to Second Amendment to Amended and Restated Revolving Loan Agreement 
and Omnibus Amendment to Loan Documents

Loan No. 1013159‎ 

Agreed and Acknowledged:

“INDEMNITOR” 

						
	RPT PROPERTY TRUST, INC., 
a Maryland corporation
	
		
	By:	/s/ Anne-Marie Vandenberg
	Name:	Anne-Marie Vandenberg
	Title:	President

[Signatures Continue on Following Page]

Signature Page to Second Amendment to Amended and Restated Revolving Loan Agreement 
and Omnibus Amendment to Loan Documents

Loan No. 1013159‎ 

						
	RPT TERRA NOVA PLAZA, LLC, 
a Delaware limited liability company	
		
	By:	/s/ Anne-Marie Vandenberg
	Name:	Anne-Marie Vandenberg
	Title:	Authorized Signatory
		
	By:	/s/ Kristin Strange
	Name:	Kristin Strange
	Title:	Authorized Signatory

						
	RPT HERITAGE PARKWAY, LLC, 
a Delaware limited liability company
	
		
	By:	/s/ Anne-Marie Vandenberg
	Name:	Anne-Marie Vandenberg
	Title:	Authorized Signatory
		
	By:	/s/ Kristin Strange
	Name:	Kristin Strange
	Title:	Authorized Signatory

						
	RPT ANAHEIM HILLS OFFICE PLAZA, LLC, 
a Delaware limited liability company
	
		
	By:	/s/ Anne-Marie Vandenberg
	Name:	Anne-Marie Vandenberg
	Title:	Authorized Signatory
		
	By:	/s/ Kristin Strange
	Name:	Kristin Strange
	Title:	Authorized Signatory

[Signatures Continue on Following Page]

Signature Page to Second Amendment to Amended and Restated Revolving Loan Agreement 
and Omnibus Amendment to Loan Documents

Loan No. 1013159‎ 

						
	RPT LOUDOUN GATEWAY I, LLC, 
a Delaware limited liability company
	
		
	By:	/s/ Anne-Marie Vandenberg
	Name:	Anne-Marie Vandenberg
	Title:	Authorized Signatory
		
	By:	/s/ Kristin Strange
	Name:	Kristin Strange
	Title:	Authorized Signatory

						
	RPT ALLIED DRIVE, LLC, 
a Delaware limited liability company
	
		
	By:	/s/ Anne-Marie Vandenberg
	Name:	Anne-Marie Vandenberg
	Title:	Authorized Signatory
		
	By:	/s/ Kristin Strange
	Name:	Kristin Strange
	Title:	Authorized Signatory

						
	RPT PALMETTO LAKES, LLC,
a Delaware limited liability company
	
		
	By:	/s/ Anne-Marie Vandenberg
	Name:	Anne-Marie Vandenberg
	Title:	Authorized Signatory
		
	By:	/s/ Kristin Strange
	Name:	Kristin Strange
	Title:	Authorized Signatory

[Signatures Continue on Following Page]

Signature Page to Second Amendment to Amended and Restated Revolving Loan Agreement 
and Omnibus Amendment to Loan Documents

Loan No. 1013159‎ 

						
	RPT HIALEAH I, LLC, 
a Delaware limited liability company
	
		
	By:	/s/ Anne-Marie Vandenberg
	Name:	Anne-Marie Vandenberg
	Title:	Authorized Signatory
		
	By:	/s/ Kristin Strange
	Name:	Kristin Strange
	Title:	Authorized Signatory

						
	RPT HIALEAH II, LLC, 
a Delaware limited liability company
	
		
	By:	/s/ Anne-Marie Vandenberg
	Name:	Anne-Marie Vandenberg
	Title:	Authorized Signatory
		
	By:	/s/ Kristin Strange
	Name:	Kristin Strange
	Title:	Authorized Signatory

Signature Page to Second Amendment to Amended and Restated Revolving Loan Agreement 
and Omnibus Amendment to Loan Documents

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00312-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00312-of-00352.parquet"}]]