This excerpt taken from the CVX DEF 14A filed Mar 19, 2007.
Directors Compensation (Concluded)
This excerpt taken from the CVX DEF 14A filed Mar 21, 2005.
ChevronTexaco believes that non-employee Directors compensation should provide total compensation that is competitive, links rewards to business results and stockholder returns and facilitates increased ownership of ChevronTexaco Stock.
ChevronTexaco does not have a retirement plan for non-employee Directors. ChevronTexacos Executive Officers are not paid additional compensation for their services as Directors.
Current compensation reflects the Companys September 10, 2004, two-for-one stock split. The compensation for non-employee Directors granted under the ChevronTexaco Corporation Non-Employee Directors Equity Compensation and Deferral Plan includes the following stock and cash elements: