Common use of Vesting Percentages Clause in Contracts

Vesting Percentages. The number of shares of Common Stock, if any, that Participant will be entitled to receive in settlement of the vested Performance Shares will be determined on each Normal Vesting Date and, subject to the provisions of the Plan and this Agreement, on such Normal Vesting Date, the following percentage of the vested Performance Shares will be awarded as shares of Common Stock to the Participant if Valero’s TSR during the Performance Period falls within the following ranges: Valero TSR Position Percent of vested Performance Shares to be awarded as Shares of Common Stock 4th Quartile 0 % 3rd Quartile 50 % 2nd Quartile 100 % 1st Quartile 150 % If Valero’s TSR is the highest achieved in the 1st Quartile for the Performance Period, Participant shall be awarded a number of shares of Common Stock equal to 200% of the Performance Shares that vested during the Performance Period.

Vesting Percentages. The number of shares of Common Stock, if any, that Participant will be entitled to receive in settlement of the vested Performance Shares will be determined on each Normal Vesting Date and, subject to the provisions of the Plan and this Agreement, on such Normal Vesting Date, the following percentage of the vested Performance Shares will be awarded as shares of Common Stock to the Participant if Valero’s 's TSR during the Performance Period falls within the following ranges: Valero TSR Position Percent of vested Performance Shares to be awarded as Valero TSR Position Shares of Common Stock ------------------- ----------------------------- 4th Quartile 0 0% 3rd Quartile 50 50% 2nd Quartile 100 100% 1st Quartile 150 150% If Valero’s 's TSR is the highest achieved in the 1st Quartile for the Performance Period, Participant shall be awarded a number of shares of Common Stock equal to 200% of the Performance Shares that vested during the Performance Period.

Vesting Percentages. The number of shares of Common Stock, if any, that Participant will be entitled to receive in settlement of the vested Performance Shares will be determined on each Normal Vesting Date and, subject to the provisions of the Plan and this Agreement, on such Normal Vesting Date, the following percentage of the vested Performance Shares will be awarded as shares of Common Stock to the Participant if Valero’s TSR during the Performance Period falls within the following ranges: Valero TSR Position Percent of vested Performance Shares to be awarded as Shares of Common Stock 4th Quartile 0 0% 3rd Quartile 50 50% 2nd Quartile 100 100% 1st Quartile 150 150% If Valero’s TSR is the highest achieved in the 1st Quartile for the Performance Period, Participant shall be awarded a number of shares of Common Stock equal to 200% of the Performance Shares that vested during the Performance Period.