Document:

Valero GP, LLC Excess Pension Plan, effective July 1, 2006

 Exhibit 10.07 
 VALERO GP, LLC 
 EXCESS PENSION PLAN 
 Effective July 1, 2006 

 VALERO GP, LLC. 
 EXCESS PENSION PLAN 
 Table of Contents 
  

			
	 	  	PAGE
	 SECTION 1. DEFINITIONS.
	  	3
		
	 SECTION 2. PARTICIPATION - §415(b) BENEFIT PLAN COMPONENT.
	  	6
		
	 SECTION 3. PARTICIPATION - §401(a)(17) BENEFIT PLAN COMPONENT.
	  	7
		
	 SECTION 4. AMOUNT AND FORM OF BENEFIT.
	  	8
		
	 SECTION 5. SPECIAL PROVISIONS REGARDING PAYMENT OF BENEFITS.
	  	9
		
	 SECTION 6. ADMINISTRATION.
	  	10
		
	 SECTION 7. MISCELLANEOUS.
	  	11

  

 i 

 VALERO GP, LLC 
 EXCESS PENSION PLAN 
 The Valero GP, LLC Excess Pension Plan (hereinafter referred to as the
“Excess Pension Plan” or the “Plan”) is hereby established effective July 1, 2006 (“Effective Date”) for the purpose of providing benefits to those employees of Valero GP, LLC and its subsidiaries (hereinafter
collectively referred to as the “Company”) whose pension benefits under the Valero GP, LLC Pension Plan (the “Pension Plan”) and the Valero Energy Corporation Pension Plan (“Prior Pension Plan”) are subject to
limitations under the Internal Revenue Code of 1986, as amended (the “Code”), or are otherwise indirectly constrained by the Code from realizing the maximum benefit available to them under the terms of the Pension Plan and the Prior
Pension Plan. 
 The Excess Pension Plan is an “excess benefit plan” as defined under §3(36) of The Employee Retirement Income
Security Act of 1974, as amended (“ERISA”), for those benefits provided in excess of Section 415 of the Code. Benefits provided as a result of other statutory limitations are limited to a select group of management or other highly
compensated employees. The Excess Pension Plan is not intended to constitute either a qualified plan under the provisions of Section 401 of the Code or a funded plan subject to the Employee Retirement Income Security Act of 1974, as
amended (“ERISA”). 
 The Plan is being established in connection with a spin-off from the Valero Energy Corporation Excess Pension
Plan (“Predecessor Excess Pension Plan”) of the benefits accrued under the Predecessor Excess Pension Plan as of the Effective Date with respect to eligible Employees of the Company. In this connection, it is the intent of the Company that
this Plan not 
  

					
	Valero GP, LLC Excess Pension Plan	 	1	 	

 constitute a new nonqualified deferred compensation plan, but rather merely the assumption and continuation of the
Predecessor Excess Pension Plan, effective as of July 1, 2006, with respect to eligible Employees of the Company who have accrued a benefit under the Predecessor Excess Pension Plan. The original effective date of the Predecessor Excess Pension
Plan was January 1, 1995. 
 The Company has established the Pension Plan, effective as of July 1, 2006, to provide defined benefit
pension benefits to eligible Employees of the Company, with respect to future service. Effective as of July 1, 2006, eligible Employees of the Company will cease accruing additional benefits under the Prior Pension Plan and the Predecessor
Excess Pension Plan. It is the intent of the Company that this Plan shall assume the liabilities of the Predecessor Excess Pension Plan as of July 1, 2006, with respect to eligible Employees of the Company, and shall provide a single,
nonqualified excess defined benefit to eligible Employees for their pre-July 1, 2006 benefit accruals under the Predecessor Excess Pension Plan and their post-July 1, 2006 benefit accruals under this Plan. 
 It is the intent of the Company and Valero Energy Corporation (“VEC”) that this Plan be maintained by the Company for the benefit of eligible
employees of the Company and that, from and after the date hereof, this spin-off plan and the Company shall be solely liable for all benefits due such eligible Employees under this Plan and the Predecessor Excess Pension Plan. 
  

					
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 VALERO GP, LLC 
 EXCESS PENSION PLAN 
 All defined terms used in the Pension Plan and the Prior Pension Plan,
as the case may be, shall have the same meanings for purposes of this Plan except as otherwise provided below. 
 SECTION 1. DEFINITIONS.

  

	1.1	“Basic Plan Benefit” shall mean the sum of the monthly benefits payable from the Pension Plan and the Prior Pension Plan which: 

  

	 	1.1.1	In the case of an unmarried Participant, is based upon the lifetime annuities payable to such Participant pursuant to the relevant provisions of the Pension Plan and of the Prior
Pension Plan; or, 

  

	 	1.1.2	In the case of a married Participant, is based upon the joint and survivor pensions of Equivalent Actuarial Value to the pensions otherwise payable to such Participant for life
pursuant to the relevant provisions of the Pension Plan and of the Prior Pension Plan after reduction to reflect the number of months (if any) during which a pre-retirement spouse’s benefit election has been in effect. 

 

	1.2	“Change in Control” shall mean the occurrence of one or more of the following events: 

  

	 	1.2.1	Any one person or more than one person acting as a group (a “Group”) shall acquire (whether in one or more transactions) ownership of interests in the Company that,
together with interests held by such person or Group, constitutes more than 50% of the total fair market value or total voting power of all interests, of the Company; or 

  

	 	1.2.2	any one person or Group acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or Group) ownership interests in the
Company representing 35% or more of the total voting power of all such interests in the Company; or 

  

	 	1.2.3	a majority of the members of the governing body of the Company (or, for purposes of this subparagraph 1.2.3, the relevant entity under the provisions of Prop. Treas. Reg.
§1.409A-3(g)(5)(vi)(A)) is replaced during any 12-month period by members whose appointment or election is not endorsed by a majority of the members of the governing body of the Company prior to the date of appointment or election; or

  

	 	1.2.4	any one person or Group acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or Group) assets from the Company that
have a total gross fair market value equal to or more than 40% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions. 

  

					
	Valero GP, LLC Excess Pension Plan	 	3	 	

	1.2.5	A Change in Control shall also be deemed to occur if a Change in Control, as defined in sections 1.2.1, 1.2.2, 1.2.3 or 1.2.4 above, shall occur with respect to:

  

	 	1.2.5.1	the entity for which a Participant is providing services at the time of such Change in Control; or 

  

	 	1.2.5.2	the entity liable for paying the benefits under this Plan (or all such entities if more than one entity shall be so liable); or 

  

	 	1.2.5.3	an entity that is the majority holder of interests in any entity identified in the preceding sections 1.2.5.1 or 1.2.5.2, or any entity in a chain of entities in which such entity
is a majority holder of interests in another entity in the chain, ending in an entity identified in sections 1.2.5.1 or 1.2.5.2 above. 

  

	1.2.6	Special Rules. 

  

	 	1.2.6.1	For purposes of calculating ownership in determining whether a Change in Control has occurred, the attribution rules of Code Section 318(a) shall apply with respect to stock of
a corporation, and shall be applied by analogy with respect to other types of business entities. 

  

	 	1.2.6.2	If, at the time of a transaction, any one person or Group is considered to own more than 50 percent of the total fair market value or total voting power of interests in the Company
(or other entity), or is considered to own 35 percent or more of the total voting power of interests in the Company (or other entity), then the acquisition of additional interests in the Company or other entity shall not be treated as a Change in
Control under section 1.2.1 or 1.2.2 above, as applicable. 

  

	 	1.2.6.3	For purposes of applying the provisions of section 1.2.4 above, a transfer of assets is not treated as a change in the ownership of such assets if the assets are transferred to:

  

	 	(a)	any person or Group who holds an interest in the Company, in exchange for such interest; 

  

	 	(b)	an entity, 50% or more of the total value or voting power of which is owned, directly or indirectly, by the Company; 

  

	 	(c)	a person or Group that owns, directly or indirectly, 50% or more of the total value or voting power of the Company; or 

  

					
	Valero GP, LLC Excess Pension Plan	 	4	 	

	 	(d)	an entity, at least 50% of the total value or voting powers of which is owned, directly or indirectly, by a person or Group described in (c) above. 

 In applying the provisions of this section 1.2.6.3, a person’s status is determined immediately after the transfer of assets. 
  

	1.3	“Code” shall mean the Internal Revenue Code of 1986, as amended. 

  

	1.4	“Committee” shall mean the Benefit Plans Administrative Committee, which shall administer the Excess Pension Plan. 

  

	1.5	“Company” shall include the Employer and any Affiliated Employer as such terms are respectively defined in the Pension Plan. 

  

	1.6	“Considered Compensation” shall mean “Considered Compensation” as such term is defined in the Pension Plan, but determined without regard to the Compensation
Limit. 

  

	1.7	“Company” shall mean Valero GP, LLC or any successor by merger, purchase or otherwise. 

  

	1.8	“Compensation Limit” shall mean the maximum annual compensation allowed to be taken into account by the Pension Plan for any Plan Year pursuant to the provisions of
§401(a)(17) of the Code or any successor provision thereto. 

  

	1.9	“Credited Service” shall mean the sum of the Credited Service earned by a Participant under the Pension Plan and the Prior Pension Plan. 

  

	1.10	“Employee” shall mean any person who is currently employed by the Company. 

  

	1.11	“Equivalent Actuarial Value” shall mean equivalent value when computed on the basis of the mortality tables and interest rate last approved by the Committee appointed
under the terms of the Pension Plan, as set forth herein and as amended from time to time. 

  

	1.12	“Excess Pension Plan” or “Plan” shall mean the Valero GP, LLC Excess Pension Plan, as set forth herein or as amended from time to time. 

 

	1.13	“Final Average Monthly Earnings” shall mean “Final Average Salary” as such term is defined in the Pension Plan and the Prior Pension Plan, respectively, but
determined without regard to the Compensation Limit and including any amounts that would otherwise be excluded from such calculation because of being contributed to a Plan of Deferred Compensation. 

  

	1.14	“Normal Retirement Date” shall mean Normal Retirement Date, as such term is defined in the Pension Plan and the Prior Pension Plan, respectively. 

 

	1.15	“Participant” means an Employee who is a participant in the Excess Pension Plan. 

  

					
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	1.16	“Pension Plan” shall mean the Valero GP, LLC Pension Plan (as amended). 

  

	1.17	“Plan of Deferred Compensation” shall mean any non-qualified deferred compensation plan or arrangement, any Code section 125 cafeteria plan, or any Code
section 401(k) cash or deferral arrangement maintained by the Company. 

  

	1.18	“Prior Pension Plan” shall mean the Valero Energy Corporation Pension Plan (as amended). 

  

	1.19	“SERP” shall mean the Valero GP, LLC Supplemental Executive Retirement Plan (as amended). 

  

	1.20	“Separation from Service” shall mean a separation from service as defined in Code section 409A and the regulations and rulings issued thereunder. 

 

	1.21	“Surviving Spouse” shall mean the spouse of a Participant who is eligible to receive a surviving spouse benefit under the Pension Plan or the Prior Pension Plan, as the
case may be. 

  

	1.22	“Trust” shall mean the trust, if any, established by the Company to fund its obligations hereunder. 

 SECTION 2. PARTICIPATION - §415(b) BENEFIT PLAN COMPONENT. 
  

	2.1	Conditions of Eligibility. 

  

	 	2.1.1	Every Employee shall become eligible to participate in the §415(b) benefit plan component of the Plan on the later of becoming eligible to participate in the Pension Plan or
the effective date of the Plan. 

  

	 	2.1.2	Notwithstanding paragraph 2.1.1 above or section 2.1.3 below, any Employee who is covered under a collective bargaining agreement and whose benefits are the subject of good
faith bargaining shall not be eligible to participate in the §415(b) benefit plan component of the Plan. 

  

	 	2.1.3	Additionally, any Employee who is a participant in the SERP or any other plan designed to provide a similar benefit with respect to Code section 415(b), shall not be eligible to
participate in the §415(b) benefit plan component of the Excess Pension Plan. 

  

	2.2	Participation. 

 Each Employee actively
participating in the Pension Plan whose aggregate benefit under the Pension Plan and the Prior Pension Plan would exceed the limitations of Code section 415(b) shall automatically become a Participant in the §415(b) benefit plan component of
the Plan. 
  

					
	Valero GP, LLC Excess Pension Plan	 	6	 	

	2.3	Forfeiture. 

 Notwithstanding anything herein to the
contrary, if a Participant who is receiving, or may be entitled to receive, a benefit hereunder is discharged for cause, or performs acts of willful malfeasance or gross negligence in a matter of material importance to the Company, payments
thereafter payable hereunder to such Participant or such Participant’s Surviving Spouse will, at the discretion of the Committee, be forfeited and the Company will have no further obligation hereunder to such Participant or to such
Participant’s Surviving Spouse. 
 SECTION 3. PARTICIPATION - §401(a)(17) BENEFIT PLAN COMPONENT. 
  

	3.1	Conditions of Eligibility. 

  

	 	3.1.1	Every Employee whose Considered Compensation exceeds the Compensation Limit shall become eligible to participate in the §401(a)(17) benefit plan component of the Plan on the
later of becoming eligible to participate in the Pension Plan or the effective date of the Plan. 

  

	 	3.1.2	Notwithstanding Section 3.1.1 above or Section 3.1.3 below, any Employee who is covered under a collective bargaining agreement and whose benefits are the subject of good
faith bargaining shall not be eligible to participate in the §401(a)(17) benefit plan component of the Plan. 

  

	 	3.1.3	Additionally, any Employee who is a Participant in the SERP or any other plan designed to provide a similar benefit with respect to earnings in excess of the Compensation Limit,
shall not be eligible to participate in the §401(a)(17) benefit plan component of the Plan. 

  

	3.2	Participation. 

 The Committee will review the
Considered Compensation of each Employee actively participating in the Pension Plan to determine on an individual basis which Employees shall participate in the §401(a)(17) benefit plan component of the Plan. 
  

	3.3	Forfeiture. 

 Notwithstanding anything herein to the
contrary, if a Participant who is receiving, or may be entitled to receive, a benefit hereunder is discharged for cause, or performs acts of willful malfeasance or gross negligence in a matter of material importance to the Company, payments
thereafter payable hereunder to such Participant or such Participant’s Surviving Spouse will, at the discretion of the Committee, be forfeited and the Company will have no further obligation hereunder to such Participant or to such
Participant’s Surviving Spouse. 
  

					
	Valero GP, LLC Excess Pension Plan	 	7	 	

 SECTION 4. AMOUNT AND FORM OF BENEFIT. 
  

	4.1	Vesting. 

 Except as otherwise provided herein, a
Participant’s Excess Pension Plan benefit shall vest pursuant to the following vesting schedule: 
  

				
	 Participant’s Years of Credited Service
	  	Vested Percentage	 
	 Less than 5
	  	0	%
	 5 or more
	  	100	%

  

	4.2	Benefit Offset. 

 The monthly pension payable under
the Excess Pension Plan, as determined in this Section 4, shall be reduced by the equivalent amount the Pension Plan benefit and/or Prior Pension Plan benefit are increased as the result of increases in the amount of maximum benefits payable
from qualified plans in accordance with Code section 415. 
  

	4.3	Benefit Formula. 

 Subject to the provisions of
Sections 4.4 and 4.5, the monthly pension payable under the Excess Pension Plan shall be Amount 1 less Amount 2 as identified below. Calculation of Amount 1 for an unmarried Participant shall be based on a lifetime annuity.
Calculation of Amount 1 for a married Participant shall be a fifty percent (50%) joint and survivor pension of Equivalent Actuarial Value to the pension otherwise payable for life hereunder. 
 Amount 1 and Amount 2 are as follows: 
 Amount 1 — for such Participant is equal to 1.6 percent of the Participant’s Final Average Monthly Earnings multiplied by his number of years of Credited Service. 
 Amount 2 — for such Participant is equal to the sum of his monthly Pension Plan benefit and monthly Prior Pension Plan benefit that would be
payable at such time as benefit payments commence under this Plan. 
 The Excess Pension Plan benefits payable hereunder shall be determined
as if the Participant commenced payment of the Participant’s Pension Plan benefit and Prior Pension Plan benefit at the same time as benefits commence hereunder and shall not be recalculated or re-determined at such time as the Participant
actually commences payment of his Pension Plan benefit and/or Prior Pension Plan benefit. 
  

					
	Valero GP, LLC Excess Pension Plan	 	8	 	

	4.4	Early Retirement. 

 If a Participant’s Plan
benefit commences prior to his Normal Retirement Date, the monthly Plan benefit payable to such Participant shall be determined by multiplying the monthly Plan benefit otherwise payable to him by the applicable early retirement reduction factor
contained in the schedule of such factors set forth in Section 4.3 of the Pension Plan. 
  

	4.5	Modifications. 

 The Committee shall have the right
to modify the calculation of Amount 1, identified in Section 4.3, as to any Participant as it may desire from time to time; provided, however, that any such modification shall not result in a reduction of Amount 1 below the basic
level provided in Section 4.3. 
 SECTION 5. PROVISIONS REGARDING PAYMENT OF BENEFITS. 
  

	5.1	Optional Forms of Pension. 

 At the time a
Participant’s Excess Pension Plan benefit commences, the Participant shall elect any annuity form of payment available to the Participant under the Pension Plan, which is an actuarial equivalent lifetime form. The Participant shall not be
permitted to elect to have his Excess Pension Plan benefits paid in a lump sum, nor in any manner that is coordinated with his Social Security benefits, nor in the form of an annuity payment which is not an actuarial equivalent lifetime form of
payment. Notwithstanding the foregoing, if the present lump sum value, calculated on the basis of an immediately payable lump sum of Equivalent Actuarial Value to a Participant’s Excess Pension Plan benefit, is not greater than $50,000, then
such Participant’s Excess Pension Plan benefit shall be paid in a single lump sum. 
  

	5.2	Information to be Furnished Participants with Respect to Form of Payment. 

 The Plan Administrator shall furnish each Participant, on or about 180 days prior to the date on which he has both attained age 55 and completed five years of Credited Service, or the date he attains age 65, if
earlier, a written explanation of: 
  

	 	5.2.1	the terms and conditions of payment provided under the form of payment as described in the Excess Pension Plan, and the optional forms of payment which may be elected in lieu
thereof, 

  

	 	5.2.2	the terms and conditions of payment provided under the automatic pension as described in the Pension Plan; and, 

  

	 	5.2.3	the relative financial effect on a Participant’s total pension of an election not to take the standard and automatic pensions. 

  

					
	Valero GP, LLC Excess Pension Plan	 	9	 	

	 	5.2.4	the Plan Administrator shall also furnish each married Participant at least 120 days prior to his Normal Retirement Date or as soon as practicable after the Participant makes
application for the earlier commencement of his pension under the Plan a written statement of: 

  

	 	5.2.4.1	the amount of pension which would be payable on his behalf under the standard and automatic joint and survivor pensions as described in the Excess Pension Plan and the Pension Plan;
and, 

  

	 	5.2.4.2	the amount of pension otherwise payable under the available optional forms of benefit. 

  

	5.3	Commencement. 

 Benefits for each Participant under
this Plan shall commence as of the Separation from Service of such Participant. 
  

	5.4	Delay of Certain Payments. 

 With respect to any
Participant who is a “Specified Employee”, as defined in Code section 409A and the regulations and rulings issued hereunder, any benefit that becomes payable by reason of such Participant’s Separation from Service under
Section 5.3.3 shall not commence prior to the date that is six (6) months following such Participant’s Separation from Service. Upon commencement of any benefit delayed by application of this Section 5.4, the monthly benefit
payable to the Participant shall be determined as of the Participant’s Separation from Service, and the first payment shall include all payments that would have otherwise becomes payable during the period of such delay. The provisions of this
Section 5.4 shall not apply (a) with respect to any benefit that becomes payable due to the death of the Participant, or (b) if, at the time of such Participant’s Separation from Service, no equity of the Company is publicly
traded on an established securities market or otherwise. 
 SECTION 6. CHANGE IN CONTROL. 
  

	6.1	Full Vesting Upon Change in Control. 

 Upon a Change
in Control, the benefits of all Participants hereunder shall immediately become fully vested and shall become distributable at the time and in accordance with the provisions of Section 5 hereof. 
 SECTION 7. ADMINISTRATION. 
  

	7.1	Committee. 

 The Committee shall administer the
Excess Pension Plan. The Excess Pension Plan shall generally be administered by the Committee pursuant to the same authority, powers and duties of the committee which administers the Pension Plan. The Committee shall interpret the Excess Pension
Plan and shall determine all questions arising in the administration, interpretation and application of the Excess Pension Plan. Any such determination by the Committee shall be conclusive and binding on all persons. The 
  

					
	Valero GP, LLC Excess Pension Plan	 	10	 	

 Committee shall determine the amount and manner of payment of the benefits due to or on behalf of each
Participant under the Plan and the commencement and termination dates of such benefit payment. 
  

	7.2	Claims. 

 A Participant, Beneficiary and any other
person who believes he is entitled to any benefit or right provided under the Plan shall have the right to file a written claim with the Committee in the same manner and governed by the same provisions as provided in Section 8 of the Pension
Plan. 
 SECTION 8. MISCELLANEOUS. 
  

	8.1	Amendment and Termination. 

 The Employer reserves
the right, in its sole discretion, to terminate, suspend or amend the Excess Pension Plan, at any time or from time to time, in whole or in part for whatever reasons it may deem appropriate. However, no such termination, suspension or amendment of
the Excess Pension Plan shall result in the acceleration of the commencement of any benefit hereunder, nor shall any such termination, suspension or amendment alter, impair or void any Participant’s (or Beneficiary’s) right with respect to
a benefit accrued under the Plan as of the date of such termination, suspension or amendment except such benefits as are voluntarily forfeited by a Participant. In the event of termination of the Excess Pension Plan, all Excess Pension Benefits
shall become fully vested and non-forfeitable. 
  

	8.2	No Employment Rights. 

 Nothing contained in the
Excess Pension Plan shall be construed as a contract of employment between the Employer and an Employee, or as a right of any Employee to be continued in the employment of the Employer or as a limitation of the right of the Employer to discharge any
Employee, with or without cause. 
  

	8.3	Assignment. 

 To the maximum extent permitted by
law, no benefit under the Plan shall be assignable or in any manner subject to alienation, sale, transfer, hypothecation, claims or creditors, pledge, attachment or encumbrances of any kind. Provided however, this provision shall not effect the
right of the Committee, upon the determination that a judgment, decree or order relating to child support, alimony payments or marital property rights of the spouse, former spouse, child or other dependent of the Participant is a “Qualified
Domestic Relations Order” within the meaning of Code §414(p), to distribute or establish a separate subaccount of all or any portion of a Participant’s benefits under the Plan to or for the benefit of the beneficiary of the Qualified
Domestic Relations Order in a manner permitted under the Plan. 
  

					
	Valero GP, LLC Excess Pension Plan	 	11	 	

	8.4	Withholding Taxes. 

 The Employer shall have the
right to deduct from all payments made under the Plan any federal, state or local taxes required by law to be withheld with respect to such payments. 
  

	8.5	Rules and Regulations. 

 The Committee may adopt
rules and regulations to assist in the administration of the Plan. The Plan as amended and restated is intended to satisfy the requirements of Code section 409A and the rules and regulations issued thereunder, and shall be construed and interpreted
consistent with such intent. 
  

	8.6	Law Applicable. 

 The Plan is established under and
will be construed in accordance with and governed by the laws of the State of Texas. 
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 IN WITNESS WHEREOF, the Company has executed this Plan on this 1st day of August, 2006, to be effective as of the 1st day of July 2006. 
  

			
	VALERO GP, LLC
		
	By	 	 /s/ Steven A. Blank

		 	Steven A. Blank, Chairman
		 	Benefit Plans Administrative Committee

  

					
	Valero GP, LLC Excess Pension PlanValero GP, LLC Excess Thrift Plan, effective July 1, 2006

 Exhibit 10.08 
 VALERO GP, LLC 
 EXCESS THRIFT PLAN 
 Effective July 1, 2006 

 VALERO GP, LLC 
 EXCESS THRIFT PLAN 
 Table of Contents 
  

					
	 SECTION
	  	 	  	PAGE
	SECTION 1.	  	DEFINITIONS.	  	2
			
	SECTION 2.	  	PARTICIPATION - §415(c) BENEFIT PLAN.	  	5
			
	SECTION 3.	  	PARTICIPATION - §401(A)(17) BENEFIT PLAN.	  	5
			
	SECTION 4.	  	BENEFITS - §415(c) BENEFIT PLAN COMPONENT.	  	6
			
	SECTION 5.	  	BENEFITS - §401(a)(17) BENEFIT PLAN COMPONENT	  	7
			
	SECTION 6.	  	COMMON PROVISIONS.	  	7
			
	SECTION 7.	  	EMPLOYER CONTRIBUTIONS.	  	10
			
	SECTION 8.	  	ADMINISTRATION.	  	10
			
	SECTION 9.	  	MISCELLANEOUS.	  	10

  

 i 

 VALERO GP, LLC 
 EXCESS THRIFT PLAN 
 Introduction 
 The Valero GP, LLC Excess Thrift Plan (“Excess Thrift Plan” or “Plan”) is established effective July 1, 2006 for the purpose of providing
benefits to those employees of Valero GP, LLC (the “Company”) and its participating subsidiaries whose Annual Additions under the Valero GP, LLC Thrift Plan (“the Thrift Plan”) are subject to the limitations on such Annual
Additions as provided under §415 of the Internal Revenue Code of 1986, as amended (“the Code”), and/or are constrained from making maximum contributions under the Thrift Plan by §401(a)(17) of the Code, which limits the amount of
an employee’s annual compensation which may be taken into account under that Plan (“the Compensation Limit”). 
 The Excess Thrift Plan is
comprised of two separate components, consisting of (1) an “excess benefit plan” as defined under §3(36) of the Employee Retirement Income Security Act of 1974, as amended, and (2) a plan which is unfunded and maintained
primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees. Each component of the Excess Thrift Plan shall consist of a separate plan for purposes of Title I of the Employee
Retirement Income Security Act of 1974, as amended (“ERISA”). 
 The Excess Thrift Plan is not intended to constitute either a
qualified plan under the provisions of §401 of the Code or a funded plan subject to ERISA. 
  

					
	Valero GP, LLC Excess Thrift Plan	 	1	 	

 VALERO GP, LLC 
 EXCESS THRIFT PLAN 
 All defined terms used in the Thrift Plan shall have the same meanings for purposes of the
Excess Thrift Plan except as otherwise provided below. 
 SECTION 1. DEFINITIONS. 
  

	1.1	“Annual Addition” shall mean the total amount that would have constituted “Annual Additions” as defined in paragraph (2) of Code §415(c), if such
additions had not been limited pursuant to Code §415(c)(1), and as described in Section 6.6(a) of the Thrift Plan. 

  

	1.2	“Annual Addition Limitation” shall mean the limitation on Annual Additions to a Participant’s Thrift Plan Account, as provided in Code §415(c)(1), and as
described in Section 6.4(a) of the Thrift Plan. 

  

	1.3	“Annual Benefit Salary” shall mean a Participant’s current base rate of pay expressed in annual terms, exclusive of all other forms of pay, such as bonuses,
commissions, overtime pay, shift differential, or any type of fluctuating emolument. However, Annual Benefit Salary shall be determined without regard to any reduction to the Participant’s taxable pay as a result of participating in any plan
subject to Section 125 of the Code or the §401(k) feature of the Thrift Plan. During a period of absence from work, with or without pay, such as a sick leave, disability leave or personal leave of absence, the Participant’s base rate
of pay most recently in effect while working shall be used in computing his Annual Benefit Salary. 

  

	1.4	“Beneficiary” shall mean the Participant’s beneficiary as designated under the Thrift Plan. 

  

	1.5	“Change in Control” shall mean the occurrence of one or more of the following events: 

  

	 	(a)	Any one person or more than one person acting as a group (a “Group”) shall acquire (whether in one or more transactions) ownership of interests in the Company that,
together with interests held by such person or Group, constitutes more than 50% of the total fair market value or total voting power of all interests, of the Company; or 

  

	 	(b)	any one person or Group acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or Group) ownership interests in the
Company representing 35% or more of the total voting power of all such interests in the Company; or 

  

	 	(c)	a majority of the members of the governing body of the Company (or, for purposes of this subparagraph (c), the relevant entity under the provisions of Prop. Treas. Reg.
§1.409A-3(g)(5)(vi)(A)) is replaced during any 12-month period by members whose appointment or election is not endorsed by a majority of the members of the governing body of the Company prior to the date of appointment or election; or

  

					
	Valero GP, LLC Excess Thrift Plan	 	2	 	

	 	(d)	any one person or Group acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or Group) assets from the Company that
have a total gross fair market value equal to or more than 40% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions. 

  

	 	(e)	A Change in Control shall also be deemed to occur if a Change in Control, as defined in (a), (b), (c) or (d) above, shall occur with respect to: 

 

	 	(1)	the entity for which a Participant is providing services at the time of such Change in Control, or 

  

	 	(2)	the entity liable for paying the benefits under this Plan (or all such entities if more than one entity shall be so liable); or 

  

	 	(3)	an entity that is the majority holder of interests in any entity identified in (1) or (2), or any entity in a chain of entities in which such entity is a majority holder of
interests in another entity in the chain, ending in an entity identified in (1) or (2) above. 

  

	 	(f)	Special Rules. 

  

	 	(1)	For purposes of calculating ownership in determining whether a Change in Control has occurred, the attribution rules of Code section 318(a) shall apply with respect to stock of a
corporation, and shall be applied by analogy with respect to other types of business entities. 

  

	 	(2)	If, at the time of a transaction, any one person or Group is considered to own more than 50 percent of the total fair market value or total voting power of interests in the Company
(or other entity), or is considered to own 35 percent or more of the total voting power of interests in the Company (or other entity), then the acquisition of additional interests in the Company or other entity shall not be treated as a Change in
Control under section (a) or (b) above, as applicable. 

  

	 	(3)	For purposes of applying the provisions of section (d) above, a transfer of assets is not treated as a change in the ownership of such assets if the assets are transferred to:

  

	 	(A)	any person or Group who holds an interest in the Company, in exchange for such interest; 

  

	 	(B)	an entity, 50% or more of the total value or voting power of which is owned, directly or indirectly, by the Company; 

  

					
	Valero GP, LLC Excess Thrift Plan	 	3	 	

	 	(C)	a person or Group that owns, directly or indirectly, 50% or more of the total value or voting power of the Company; or 

  

	 	(D)	an entity, at least 50% of the total value or voting powers of which is owned, directly or indirectly, by a person or Group described in (C) above. 

 In applying the provisions of this section (f)(3), a person’s status is determined immediately after the transfer of assets. 
  

	1.6	“Code” shall mean the Internal Revenue Code of 1986 and the regulations issued thereunder, as amended from time to time. 

  

	1.7	“Committee” shall mean the Benefit Plans Administrative Committee, which administers this Plan. 

  

	1.8	“Company” shall mean Valero GP, LLC, and any successor Company through merger, acquisition or otherwise. 

  

	1.9	“Company Equity” shall mean units of Valero L.P., a master limited partnership. 

  

	1.10	“Compensation Limit” shall mean the maximum annual compensation allowed to be taken into account by the Thrift Plan for any Plan Year, pursuant to the provisions of
§401(a)(17) of the Code, or any successor provision thereto. 

  

	1.11	“Disabled” or “Disability” shall mean the existence one or more of the following conditions: 

  

	 	(a)	The Participant is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death
or can be expected to last for a continuous period of not less than 12 months; or 

  

	 	(b)	The Participant is, by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period
of not less than 12 months, receiving income replacement benefits for a period of not less than 3 months under an accident and health plan covering employees of the Company; or 

  

	 	(c)	The Participant is determined to be totally disabled by the Social Security Administration. 

  

	1.12	“Employee Contribution Percentage” shall mean the whole percentage of the Participant’s Annual Benefit Salary which such Participant has elected to contribute to the
Thrift Plan as his Employee Contribution under the provisions of such Plan. 

  

	1.13	“Employee” shall mean any person who is currently employed by an Employer. 

  

					
	Valero GP, LLC Excess Thrift Plan	 	4	 	

	1.14	“Employer” shall mean the Company or any subsidiary of the Company designated by the Board of Directors or other governing body of the Company as being eligible to
participate in the Excess Thrift Plan provided such subsidiary shall adopt the Excess Thrift Plan by action of its Board of Directors or other governing body. 

  

	1.15	“Excess Thrift Plan” shall mean the Valero GP, LLC Excess Thrift Plan, as described herein and as hereafter amended. 

  

	1.16	“Participant” shall mean an eligible Employee who has become a Participant in the Excess Thrift Plan as provided in Sections 2.2 or 3.2 herein. 

 

	1.17	“Plan Year” shall mean the calendar year, except that the first Plan Year of the Excess Thrift Plan shall commence on the Effective Date of the Excess Thrift Plan and end
on the following December 31. 

  

	1.18	“Thrift Plan” shall mean the Valero GP, LLC Thrift Plan, as amended. 

 SECTION 2. PARTICIPATION - §415(c) BENEFIT PLAN. 
  

	2.1	Conditions of Eligibility. 

  

	 	(a)	Every Employee shall become eligible to participate in the §415(c) benefit plan component of the Excess Thrift Plan on the later of becoming eligible to participate in the
Thrift Plan or the effective date of the Excess Thrift Plan. 

  

	 	(b)	Notwithstanding paragraph (a) above or Section 2.2 below, any Employee who is covered under a collective bargaining agreement and whose benefits are the subject of good
faith bargaining shall not be eligible to participate in the §415(c) benefit plan component of the Excess Thrift Plan. 

  

	2.2	Participation. 

 Each Employee actively
participating in the Thrift Plan whose Annual Additions for the Plan Year exceed the Annual Addition Limitation, shall automatically become a Participant in the §415(c) benefit plan component of the Excess Thrift Plan. 
 SECTION 3. PARTICIPATION - §401(A)(17) BENEFIT PLAN. 
  

	3.1	Conditions of Eligibility. 

  

	 	(a)	Every Employee whose Annual Benefit Salary exceeds the Compensation Limit shall become eligible to participate in the §401(a)(17) benefit plan component of the Excess Thrift
Plan on the later of becoming eligible to participate in the Thrift Plan or the effective date of the Excess Thrift Plan. 

  

	 	(b)	Notwithstanding Section 3.1(a) above, any Employee who is covered under a collective bargaining agreement and whose benefits are the subject of good faith bargaining shall not
be eligible to participate in the §401(a)(17) benefit plan component of the Excess Thrift Plan. 

  

					
	Valero GP, LLC Excess Thrift Plan	 	5	 	

	3.2	Participation. 

 Each Employee actively
participating in the Thrift Plan shall automatically become a Participant in the §401(a)(17) benefit plan component of the Excess Thrift Plan on the first day of the calendar month coincident with or next following the date on which such
Employee’s Annual Benefit Salary exceeds the Compensation Limit for the Plan Year. 
 SECTION 4. BENEFITS -
§415(c) BENEFIT PLAN COMPONENT. 
 Upon becoming a Participant in the §415(c) benefit plan component of the Excess Thrift Plan
pursuant to Section 2.2 above, a separate bookkeeping account shall be established hereunder for such Participant, which shall be credited as follows: 
  

	4.1	Amount of §415(c) Benefit. 

 In any case where
a Participant’s Annual Additions exceed the Annual Addition Limitation, the Participant’s Excess Thrift Plan §415(c) Account shall be credited with an amount equal to the Employer Matching Contributions that would have been made under
the Thrift Plan had the Annual Addition Limitation not applied, reduced by the amount of Employer Matching Contributions made to the Participant’s Thrift Plan account for such Plan Year. 
  

	4.2	Section 415(c) Amounts Credited. 

  

	 	(a)	The amounts credited to a Participant’s Excess Thrift Plan §415(c) Account shall reflect both a dollar-value and a number of hypothetical units of Company Equity. The
dollar-value of hypothetical units of Company Equity credited to a Participant’s Excess Thrift Plan §415(c) Account shall be the average of the “high” and “low” sales price of Company Equity, as reported in the New York
Stock Exchange Composite Transactions listing in the Wall Street Journal (corrected to exclude typographical errors), on the last trading day of the calendar month preceding the date that the amount is credited to the Participant’s
Excess Thrift Plan §415(c) Account. 

  

	 	(b)	The number of hypothetical units of Company Equity credited to a Participant’s Excess Thrift Plan §415(c) Account for any month under Section 4.1 shall be equal to:

  

	 	(1)	in the case of adjustments involving units of Company Equity, the actual number of whole and fractional shares involved in the particular adjustment(s) to the Thrift Plan; and

  

	 	(2)	in the case of adjustments involving amounts other than Company Equity, a number of hypothetical units of Company Equity equivalent to the dollar-value of the amounts involved in
the particular adjustment(s) to the Thrift Plan. 

  

					
	Valero GP, LLC Excess Thrift Plan	 	6	 	

 SECTION 5. BENEFITS - §401(a)(17) BENEFIT PLAN COMPONENT 
 Upon becoming a Participant in the §401(a)(17) benefit plan component of the Excess Thrift Plan pursuant to Section 3.2 above, a separate
bookkeeping account shall be established hereunder for such Participant, which shall be credited as follows: 
  

	5.1	Amount of §401(a)(17) Benefit. 

 To the extent
that a Participant’s Annual Benefit Salary exceeds the Compensation Limit for the Plan Year, the Participant’s Excess Thrift Plan §401(a)(17) Account shall be credited monthly with an amount equal to the Employer Matching
Contributions which such Participant would have received under the Thrift Plan had the Compensation Limit not applied (calculated without regard to the Annual Addition Limitation), reduced by (i) any amount credited to the Participant’s
Excess Thrift Plan §415(c) Account under Section 4.1; and (ii) further reduced the amount of Employer Matching Contributions made to the Participant’s Thrift Plan account for such Plan Year. 
  

	5.2	Section 401(a)(17) Amounts Credited. 

  

	 	(a)	The amounts credited to a Participant’s Excess Thrift Plan §401(a)(17) Account shall reflect both a dollar-value and a number of hypothetical units of Company Equity. The
dollar-value of hypothetical units of Company Equity credited to a Participant’s Excess Thrift Plan §401(a)(17) Account shall be the average of the “high” and “low” sales price of Company Equity, as reported in the New
York Stock Exchange Composite Transactions listing in the Wall Street Journal (corrected to exclude typographical errors), on the last trading day of the calendar month preceding the date that the amount is credited to the Participant’s
Excess Thrift Plan §401(a)(17) Account. 

  

	 	(b)	The number of hypothetical units of Company Equity credited to a Participant’s Excess Thrift Plan §401(a)(17) Account for any month under Section 5.1 shall be equal
to the number of whole and fractional shares which would have been allocated to such Participant’s Thrift Plan Account had he been permitted to make additional Employee Contributions to the Thrift Plan in an amount equal to the product of the
Participant’s Employee Contribution Percentage for such month times one-twelfth (1/12) of that portion of his Annual Benefit Salary in excess of the Compensation Limit. 

 SECTION 6. COMMON PROVISIONS. 
 In addition to the provisions of Sections 1, 7, 8 and 9 herein, which shall be equally applicable to the §415(c) benefit plan component and the §401(a)(17) benefit plan component of the Excess Thrift Plan,
the following provisions of this Section 6 shall apply to both benefit plan components: 
  

					
	Valero GP, LLC Excess Thrift Plan	 	7	 	

	6.1	General Principle of Crediting Amounts Under This Plan. 

 It is intended that amounts shall be credited to Participant’s Accounts under Sections 4 and 5 of this Plan to ensure that, to the extent that a Participant’s Employer Matching Contribution under the Thrift Plan is limited in any
Plan Year by application of the Annual Addition Limitation or the Compensation Limitation, such reduced amount of Employer Matching Contribution shall be credited hereunder, so that the Participant receives the full Employer Matching Contribution
(by combining the Employer Matching Contributions made under the Thrift Plan and the amounts credited to this Plan) that he would have received had neither the Annual Addition Limitation nor the Compensation Limitation applied for such Plan Year.
The Committee may take such actions as necessary to effect such intent. 
  

	6.2	Other Amounts Credited. 

  

	 	(a)	During each Plan Year, a Participant’s Excess Thrift Plan Accounts shall be credited at the same time and with the same amount of earnings or losses that a like investment in
Company Equity would have experienced, including, but not limited to (i) ordinary cash dividends, and (ii) cash (other than ordinary cash dividends), shares or other securities or rights or other property constituting or derived from any
stock dividend or rights distribution, split-up, stock split, reverse stock split, recapitalization, combination or exchange of shares, merger, consolidation, acquisition of property or stock, spin-off or separation, reorganization, liquidation or
other similar event. All cash amounts inuring to a Participant’s Excess Thrift Plan Account under this Section 6.2 shall be converted not less than annually into equivalent hypothetical units of Company Equity. The number of hypothetical
units of Company Equity credited to a Participant’s Excess Thrift Plan Account for any month under this Section 6.2 shall be determined by the average of the “high” and “low” sales price of units of Company Equity, as
reported in the New York Stock Exchange Composite Transactions listing in the Wall Street Journal, on the last trading day of the calendar month preceding the date that the amount is credited to the Participant’s Excess Thrift Plan
Account. 

  

	 	(b)	The crediting of any amounts under this Section 6.2 is separate from, and in addition to, the crediting of any amounts under any other provision of the Excess Thrift Plan.

  

	6.3	Changes in Thrift Plan Contribution Percentage. 

 Notwithstanding any other provision of this Plan, amounts to be credited to a Participant’s Account hereunder shall not be increased as a result of an increase in the Participant’s Employee Contribution Percentage under the Thrift
Plan effected during a Plan Year. The Participant’s Employee Contribution Percentage under the Thrift Plan in effect on the first day of a Plan Year shall remain in effect for the entirety of such Plan Year for purposes of determining amounts
to be credited under the Excess Thrift Plan. 
  

					
	Valero GP, LLC Excess Thrift Plan	 	8	 	

	6.4	Vesting. 

 Except as provided in Sections 6.6, 6.7,
and 9.1, a Participant shall vest in all amounts credited to his Excess Thrift Plan Account in the same manner and on the same schedule as provided in the relevant provisions of the Thrift Plan. Any portion of the hypothetical units credited to a
Participant’s Excess Thrift Plan Account which is not vested upon the Participant’s Separation from Service shall be forfeited. 
  

	6.5	Benefits Payable Upon Separation from Service. 

 In
the event of a Participant’s Separation from Service (other than by reason of retirement under the Valero GP, LLC Pension Plan), the Participant shall be entitled to the value of his vested Excess Thrift Plan Accounts as soon as reasonably
practical thereafter. For purposes of this Plan, “Separation from Service” shall have the meaning provided under Code §409A and the regulations and other guidance promulgated thereunder. 
  

	6.6	Benefits Payable Upon Retirement, Death or Disability. 

 In the event of a Participant’s death, Disability, or Separation from Service as a result of his retirement from the service of the Employer under the Valero GP, LLC Pension Plan, the Participant’s Excess Thrift Plan Account shall
immediately become fully vested and shall be distributed as soon as reasonably practical thereafter. 
  

	6.7	Vesting Upon Change in Control. 

 In the event of a
Change in Control, the Excess Thrift Plan Accounts of all Participants shall immediately become fully vested. 
  

	6.8	Form of Benefit Payments. 

 Benefit payments under
the Excess Thrift Plan shall be made in the form of a single lump sum cash payment. 
  

	6.9	Delay of Certain Benefit Payments. 

 With respect to
any Participant who is a “Specified Employee” within the meaning of Code Section 409A and the rulings and regulations issued thereunder, any amount that becomes payable by reason of such Participant’s Separation from Service
(including retirement) shall be delayed until a date that is six (6) months following the date of such Participant’s Separation from Service. At such time as payment commences, such Participant shall receive all payments that would have
been made during such six-month period in the absence of such delay. 
 Such delay shall not apply, however (i) with respect to any
benefit that becomes payable due to the death or Disability of the Participant; or (ii) if, at the time of the Participant’s Separation from Service, no equity security of the Company is publicly traded on an established securities market
or otherwise. 
  

					
	Valero GP, LLC Excess Thrift Plan	 	9	 	

	6.10	Forfeiture of Benefit. 

 Notwithstanding anything
contained in this Excess Thrift Plan to the contrary, if a Participant who is receiving or may be entitled to receive a benefit hereunder is discharged for cause, or performs acts of willful malfeasance or gross negligence in a matter of material
importance to the Employer, payments thereafter payable hereunder to such Participant or such Participant’s Beneficiary will, at the discretion of, and as determined by the Committee, be forfeited and the Employer will have no further
obligation hereunder to such Participant or to such Participant’s Beneficiary. 
 SECTION 7. EMPLOYER
CONTRIBUTIONS. 
  

	7.1	The Excess Thrift Plan is completely separate from and not a part of the Thrift Plan or any other plan of the Employer. The benefits payable under the Excess Thrift Plan are
unfunded and the Participants (and their Beneficiaries) shall be general creditors of the Employer with the respect to any payment due pursuant to the Excess Thrift Plan. 

  

	7.2	No contribution shall be required of any Participant or the Employer. 

 SECTION 8. ADMINISTRATION. 
  

	8.1	Committee. 

 The Committee shall administer the
Excess Thrift Plan. The Excess Thrift Plan shall generally be administered by the Committee pursuant to the same authority, powers and duties of the committee which administers the Thrift Plan. The Committee shall interpret the Excess Thrift Plan
and shall determine all questions arising in the administration, interpretation and application of the Excess Thrift Plan. Any such determination by the Committee shall be conclusive and binding on all persons. The Committee shall determine the
amount and manner of payment of the benefits due to or on behalf of each Participant under the Excess Thrift Plan and the commencement and termination dates of such benefit payment consistent with the terms hereof. 
  

	8.2	Claims. 

 A Participant, Beneficiary and any other
person who believes he is entitled to any benefit or right provided under the Excess Thrift Plan shall have the right to file a written claim with the Committee in the same manner and governed by the same provisions as provided in the relevant
provisions of the Thrift Plan. 
 SECTION 9. MISCELLANEOUS. 
  

	9.1	Amendment and Termination. 

 The Employer reserves
the right, in its sole discretion, to terminate, suspend or amend the Excess Thrift Plan, at any time or from time to time, in whole or in part for whatever reasons it may deem appropriate. However, no such termination, suspension or amendment of
the Excess Thrift Plan shall alter, impair or void any Participant’s (or 
  

					
	Valero GP, LLC Excess Thrift Plan	 	10	 	

 Beneficiary’s) right with respect to a benefit accrued under the Excess Thrift Plan as of the date
of such termination, suspension or amendment except such benefits as are voluntarily forfeited by a Participant. In the event of termination of the Excess Thrift Plan, all unvested amounts, together with the earnings thereon, credited to a
Participant’s Excess Thrift Plan Accounts shall fully vest in him. Such Excess Thrift Plan Accounts shall continue to be maintained pursuant to the provisions of Section 6, and any distributions to a Participant shall continue to be
subject to the provisions of Section 6 herein. In the event of a partial termination of the Excess Thrift Plan, the provisions of this Section 9.1 shall be applicable to the Participants affected by such partial termination. 
  

	9.2	No Employment Rights. 

 Nothing contained in the
Excess Thrift Plan shall be construed as a contract of employment between the Employer and an Employee, or as a right of any Employee to be continued in the employment of the Employer or as a limitation of the right of the Employer to discharge any
Employee, with or without cause. 
  

	9.3	Assignment. 

 To the maximum extent permitted by
law, no benefit under the Excess Thrift Plan shall be assignable or in any manner subject to alienation, sale, transfer, hypothecation, claims of creditors, pledge, attachment or encumbrances of any kind. Provided, however, that this
provision shall not affect the right of the Committee, upon the determination that a judgment, decree or order relating to child support, alimony payments or marital property rights of the spouse, former spouse, child or other dependent of the
Participant is a “Qualified Domestic Relations Order” within the meaning of Code §414(p), to distribute or establish a separate subaccount of all or any portion of a Participant’s benefits under the Excess Thrift Plan to or for
the benefit of the beneficiary of the Qualified Domestic Relations Order in a manner permitted under the Excess Thrift Plan. 
  

	9.4	Withholding Taxes. 

 The Employer shall have the
right to deduct from all payments made under the Excess Thrift Plan any federal, state or local taxes required by law to be withheld with respect to such payments. 
  

	9.5	Rules and Regulations. 

 The Committee may adopt
rules and regulations to assist in the administration of the Excess Thrift Plan. 
  

	9.6	Law Applicable. 

 The Excess Thrift Plan is
established under and will be construed in accordance with and governed by the laws of the State of Texas. 
  

					
	Valero GP, LLC Excess Thrift Plan	 	11	 	

 IN WITNESS WHEREOF, the Sponsor has executed this Plan on this 1st day of August, 2006, to be effective as of the 1st day of July 2006. 
  

			
	VALERO GP, LLC
		
	By	 	 /s/ Steven A. Blank

		 	Steven A. Blank, Chairman
		 	Benefit Plans Administrative Committee

  

					
	Valero GP, LLC Excess Thrift Plan

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