vacation

overview

Chevron's vacation policy provides you with time off to relax and recharge, so you can be safe and effective at work. The amount of vacation for which you’re eligible each year is based on your health and welfare eligibility service and your regular work schedule. Refer to the vacation policy (available on the intranet) for more details.

how it works

you earn vacation each day of the calendar year

Your vacation balance shows your earned vacation hours to date. You can still take your annual vacation allowance at any time during the year, even if you haven’t earned it yet.

If you take more vacation than you have earned, your vacation balance will show a negative amount until your accrual catches up. If you have a negative vacation balance when your employment ends, you won’t be required to pay back the unearned hours already taken.

If you don’t take all of your vacation in the calendar year in which it is earned, any unused hours will remain in your balance the following year. Keep in mind that you are strongly encouraged to take your annual vacation each year to minimize carryover from year to year.

Local business unit approvals regarding use of vacation apply.

there is a cap on the amount of vacation you can earn

You are encouraged to use all of your vacation every year. There is a cap on the amount of vacation you can earn, which is equal to your annual vacation allowance plus 80 hours. If you reach the cap, you won’t lose any vacation you have earned; however, you will stop earning vacation until you take enough vacation to bring your balance below the cap. Once you reduce your balance below the cap, you will begin earning vacation again. Any hours you could have earned while you were at the cap will not be retroactively earned.

vacation allowance and cap

Years of vacation serviceAnnual vacationCap
0 - 480 hours160 hours
5 - 9120 hours200 hours
10 - 19160 hours240 hours
20 - 29200 hours280 hours
30 or more240 hours320 hours

only vacation that is earned and unused as of your last day of employment will be paid out

When your employment ends, you’ll receive a payout of your earned vacation as of your last day of employment, minus any vacation already taken. Advanced (unearned) vacation is no longer deemed earned for purposes of payout when you leave the company. 

With management approval and at the company’s discretion, if you are voluntarily terminating your employment, you may extend your termination date by the number of annual vacation days for which you qualify during the calendar year in which you terminate — less the number of any vacation days you already took – as long as you:

  • Are at least age 50, and
  • Have at least 10 years of Health and Welfare Eligibility Service, including five years since your last hire date.

You may not extend your termination date across calendar years. In addition, you may only extend your termination date by your available annual vacation for the current year. You may not apply any vacation hours earned in the previous year toward your extended termination date.

The following example scenarios illustrate vacation options upon voluntary termination of employment.

Example 1: Mary

Annual vacation entitlement: 240 hours (30 days)

Vacation balance from the previous year: 0 hours

Work schedule: 5/40

Years of vacation service: 30

Amount of vacation earned per pay period: 10 hours* (240 hours annual entitlement / 365 days per year x 15 days per pay period)

Pay frequency: Twice a month

Mary plans to retire on March 31, and does not have any remaining vacation hours from the previous year. In the current year, she’ll earn 60 hours of vacation from January through March (10 hours x 6 pay periods). Here are Mary’s options:

  • With her manager’s approval, she can extend her termination date up to the amount of her current year annual vacation entitlement (240 hours), minus any time already taken during the year.
  • If she doesn’t take any vacation in the current year, she’ll receive a payout of 60 hours (the amount earned as of March 31).
  • If she takes all 60 hours of earned vacation, she won’t receive a payout of any additional vacation.
  • If she takes more vacation than she earned (for example, she takes her entire current year vacation entitlement of 240 hours, even though she hasn’t earned all of it), she won’t be required to pay back the amount she took but didn’t yet earn.

* Approximate amounts rounded to the nearest whole number.

Example 2: Jack

Annual vacation entitlement: 240 hours (30 days)

Vacation balance from the previous year: 80 hours

Work schedule: 5/40

Years of vacation service: 30

Amount of vacation earned per pay period: 10 hours* (240 hours annual entitlement / 365 days per year x 15 days per pay period)

Pay frequency: Twice a month

Jack plans to retire on March 31. On January 1, he has 80 hours of vacation remaining from his previous year’s vacation balance. In the current year, he’ll earn another 60 hours of vacation from January through March (10 hours x 6 pay periods). Here are Jack’s options:

  • With his manager’s approval, he can extend his termination date up to the amount of his current year annual vacation entitlement (240 hours), minus any time already taken during the year. He cannot use his remaining vacation from the previous year (80 hours) to extend his termination date.
  • If he doesn’t take any vacation in the current year, he’ll receive a payout of 140 hours (80 hours from the previous year plus 60 hours earned in the current year).
  • If he takes all 140 hours of earned vacation (80 hours from the previous year plus 60 hours earned in the current year), he won’t receive a payout of any additional vacation.
  • If he takes more vacation than he earned (for example, he takes his previous year’s balance of 80 hours plus his entire current year’s vacation entitlement of 240 hours, even though he hasn’t earned all of it), he won’t be required to pay back the amount he took but didn’t yet earn.

* Approximate amounts rounded to the nearest whole number.

Please note: This page applies to U.S.-payroll employees. This page provides only certain highlights of benefits or program provisions. It is not intended to be a complete explanation. If there are any discrepancies between this communication and legal plan documents, the legal documents will prevail to the extent permitted by law. Chevron Corporation reserves all rights, for any reason and at any time, to amend, change or terminate these plans. Such amendments, changes, terminations or eliminations may be applicable without regard to whether someone previously terminated employment with Chevron or previously was subject to a grandfathering provision. Some benefit plans and policies described in this document may be subject to collective bargaining and, therefore, may not apply to union represented employees.