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leaving chevron with change of control severance

for former legacy noble U.S.-payroll employees

This page provides more information about your transition from Chevron if you have received notification of your eligibility to receive severance benefits in accordance with the Noble Energy, Inc. 2020 Change of Control Severance Plan (the “Severance Plan”) and have received a departure date.

The 2020 Change of Control Severance Plan provides severance benefits to eligible U.S.-payroll legacy Noble employees in the event of certain qualifying termination of employment.

If you are eligible for the Noble Change of Control Severance Plan, as per plan rules, your one-time cash payment for continuing health and welfare benefits will be based on the health and welfare benefits for which you are enrolled immediately prior to the date of your qualifying termination of employment. As a reminder, Noble coverage ended on September 30, so you must be enrolled in Chevron benefits to receive this payment. The calculation of this payment will be based on Chevron health coverage enrollment. Enrollment in active Chevron employee benefits is not automatic; your action is required to enroll on the BenefitConnect website during your enrollment window and prior to your departure date. An estimate of your payment will be provided with your severance materials.

The Company has retained Right Management to provide career transition services to affected employees. Provided at no cost to you, this service offers job search support, including coaching, resume writing and interviewing skills. You must initiate services within 30 days following your termination date and will have 12 months to use these services. Learn more.

Please note that the direct deposit in effect for your regular pay while you're an active employee cannot be used after your employment end date; you must complete a new authorization. If direct deposit of your severance and other post-employment payments is desired, you must complete the Direct Deposit Authorization Form for Former Employees (F-2R) and submit it to payroll@chevron.com or mail it to the address indicated on the form.

Chevron Employee Savings Investment Plan (ESIP) benefit
If you have an ESIP account, you will receive a final distribution package from Fidelity separately. The ESIP package will describe the choices you have and actions you may need to take when you leave the company.

The asset retrieval process includes the return of both Legacy Noble equipment as well as Chevron issued equipment.



This communication provides only certain highlights about benefit provisions. It is not intended to be a complete explanation. If there are any discrepancies between this communication and the legal plan documents, the legal plan documents will prevail to the extent permitted by law. Oral statements about plan benefits are not binding on Chevron or the applicable plan. Chevron Corporation reserves all rights, for any reason and at any time, to amend, change or terminate these plans or to change or eliminate the company contribution toward the cost of such 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. Unless required by applicable law, there are no vested rights with respect to any Chevron health and welfare plan benefit or to any company contributions towards the cost of such health and welfare plan benefits. Some benefit plans and policies described in this document may be subject to collective bargaining and, therefore, may not apply to union-represented employees.

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