As filed with the Securities and Exchange Commission on [________], 1997
Registration No. 333-______
================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
____________________
CHEVRON CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 94-0890210
(State or other juris- (I.R.S. Employer
diction of incorporation) Identification No.)
575 Market Street 94105
San Francisco, CA (Zip Code)
(Address of principal
executive offices)
Chevron Corporation Salary Deferral Plan for Management Employees
(Full title of the plan)
Lydia I. Beebe Copy to:
Chevron Corporation Terry M. Kee
575 Market Street Brian M. Wong
San Francisco, CA 94105 Pillsbury Madison & Sutro LLP
(415) 894-7700 P.O. Box 7880
(Name, address and telephone San Francisco, California 94120
number of agent for service) (415) 983-1000
CALCULATION OF REGISTRATION FEE
- ----------------------------------------------------------------------------------------------------------------------------
Proposed maximum Proposed maximum
Title of securities to be Amount to be offering price aggregate offering Amount of
registered registered per share price registration fee
- -------------------------- -------------- ------------------- ------------------- --------------------
Deferred Compensation $20,000,000 100% $20,000,000(2) N/A
Obligations (1)
- ----------------------------------------------------------------------------------------------------------------------------
Common Stock, par 292,237 $68.4375(3) $20,000,000(3) $6,060.61(3)
value $1.50 per share
- ----------------------------------------------------------------------------------------------------------------------------
Rights to purchase 292,237 N/A N/A N/A
Preferred Stock(4)
- ----------------------------------------------------------------------------------------------------------------------------
Total Registration Fee N/A N/A N/A $6,060.61
- ----------------------------------------------------------------------------------------------------------------------------
(1) The Deferred Compensation Obligations are unsecured general obligations of
the Chevron Corporation under the Chevron Corporation Salary Deferral Plan
for Management Employees in the principal amount of $20,000,000. Certain of
such Deferred Compensation Obligations may be fulfilled at the option of
the plan participant either in cash or in shares of Common Stock of Chevron
Corporation. Accordingly, 292,237 shares of Common Stock of Chevron
Corporation are also being registered hereunder.
(2) Estimated pursuant to Rule 457(h) solely for the purpose of calculating the
registration fee.
(3) Estimated pursuant to Rule 457(c) solely for the purpose of calculating the
registration fee based upon the average of the high and low prices of the
Company's Common Stock on the New York Stock Exchange on February 12, 1997.
(4) Associated with the Common Stock are Rights to purchase Preferred Stock
that will not be exercisable or evidenced separately from the Common Stock
prior to the occurrence of certain events.
______________________________
The Registration Statement shall become effective upon filing in accordance with
Rule 462 under the Securities Act of 1933.
PART I
ITEM 1. PLAN INFORMATION.*
ITEM 2. REGISTRANT INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION.*
* Information required by Part I to be contained in the Section 10(a)
prospectus is omitted from this Registration Statement in accordance with Rule
428 under the Securities Act of 1933 (the "Securities Act") and the Note to Part
I of Form S-8.
PART II
ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE.
The following documents filed by the Registrant with the Securities
and Exchange Commission are hereby incorporated by reference in this
Registration Statement:
(a) The Registrant's Annual Report on Form 10-K (File No. 1-368-
2) for the fiscal year ended December 31, 1995.
(b) The Registrant's Quarterly Reports on Form 10-Q (File No. 1-
368-2) for the quarters ending March 31, 1996, June 30, 1996 and September 30,
1996.
(c) The Registrant's Current Reports on Form 8-K (File No.
1-368-2) dated as of January 4, 1996; January 22, 1996 and January 24, 1997.
(d) The Registrant's By-Laws, as amended July 27, 1994,
containing a description of the common stock, filed as Exhibit 3.2 to the
Registrant's Quarterly Report on Form 10-Q for the quarter and six month period
ended June 30, 1994; the Rights Agreement dated as of November 22, 1988 between
the Registrant and Manufacturers Hanover Trust Company of California, as Rights
Agent, containing a description of the Rights to purchase Preferred Stock, filed
as Exhibit 4.0 to the Registrant's Current Report on Form 8-K dated November 22,
1988; and Amendment No. 1 dated as of December 7, 1989 to the Rights Agreement
dated as of November 22, 1988 between the Registrant and Manufacturers Hanover
Trust Company of California as Rights Agent, filed as Exhibit 4.0 to the
Registrant's Current Report on Form 8-K dated December 7, 1989.
All documents subsequently filed by the Registrant pursuant to
Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934 shall
be deemed incorporated by reference in this Registration Statement and to be a
part hereof from the date of filing such documents until a post-effective
amendment of this Registration Statement is filed which indicates that all
securities being offered hereby have been sold or which deregisters all
securities then remaining unsold.
ITEM 4. DESCRIPTION OF SECURITIES.
The Common Stock of Chevron Corporation is registered under Section 12
of the Exchange Act, and accordingly, no description is provided hereunder.
The Chevron Corporation Salary Deferral Plan for Management Employees
(the "Plan") is an unfunded deferred compensation plan. The securities to be
issued under the Plan constitute general obligations of the Registrant and will
be offered to eligible Plan participants ("Eligible Employees") as described
below. An aggregate principal amount of $20,000,000 is being registered under
the Plan.
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Further amounts may be registered and issued as new or existing Plan
participants elect to defer portions of their compensation in subsequent years.
Eligible Employees are eligible for designation as participants by the
Management Compensation Committee of the Board of Directors of the Registrant
(the "Committee") or any successor thereto. Eligible Employees include
executive and other key employees, including officers (whether or not directors)
of the Registrant or a subsidiary who hold positions of significant
responsibility or whose performance or potential contribution, in the judgment
of the Committee, would benefit the future success of the Registrant and whom
the Registrant designates to participate in the Plan.
An Eligible Employee may elect to defer either (i) a percentage of his
or her base salary for each Plan Year, in 5% increments (subject to a maximum
amount equal to the lesser of 50% of base salary or the amount of base salary in
excess of the limitations under section 401(a)(17) of the Internal Revenue Code
of 1986, as amended, or (ii) all of his or her base salary in excess of $1
million annually (a "Deferral Election").
The Registrant will maintain a Deferral Account for each Eligible
Employee. All of the Eligible Employee's deferrals will be credited to this
Account. The Deferral Accounts are bookkeeping entries only; no assets of the
Registrant have been set aside to fund the Registrant's obligations under the
Plans. The Deferral Accounts do not give a participant any interest in or claim
to any specific asset of the Registrant, nor shall they be deemed to create a
trust for the benefit of the participant.
In the case of a Deferral Election, the value of the deferred portion
will be determined by crediting the Deferral Account with such earnings, gains
and losses as would have accrued to the Eligible Employee's Deferral Account had
such funds actually been invested in one or more of the Investment Funds
maintained in the Registrant's Profit Sharing/Savings Plan. Such investment
election may be made in 5% increments. At any time prior to termination of
employment, a participant may make a request for an alternative distribution in
a lump sum or in annual installments. In the event of a participant's death,
Plan benefits will be distributed in the form and at the time designated by the
participants's prior valid Deferral Election selected from the payment options
offered by the Plan. In the case of undue hardship for a participant, the
Committee, in its sole discretion, may direct payment to a participant of all or
any portion of any amounts deferred.
Amounts paid under the Plan will be paid, subject to the Eligible
Employee's Deferral Election, either from the general funds of the Registrant or
in shares of Common Stock of the Registrant, and each participant and his
beneficiaries have the status of unsecured general creditors of the Registrant
with no special or prior right to any assets of the Registrant for payment of
any obligations under the Plan. Except as otherwise provided by law, Plan
benefits are not assignable, may not be used as security for loans or otherwise
alienated and are exempt from the claims of participants' creditors and other
claimants. Under the Plan, there is no limitation on the Registrant's right to
issue senior debt or other securities. No events of default exist under the
Plan nor is any absence of default evidence required.
The Board may, at any time and for any reason, amend or terminate the
Plan. However, any amendment of the Plan will be subject to the approval of the
Registrant's stockholders to the extent required by applicable law, regulations
or rules. No amounts will be deferred under the Plan after its termination, but
the termination of the Plan will not affect any previously deferred amounts. The
Plan will remain in effect until it is terminated.
ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL.
Not applicable.
-3-
ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.
Article IX of Chevron's restated Certificate of Incorporation provides
as follows:
"1. A director of the Corporation shall not be liable to the
Corporation or its stockholders for monetary damages for breach of fiduciary
duty as a director, except for liability (a) for any breach of the director's
duty of loyalty to the Corporation or its stockholders; (b) for acts or
omissions not in good faith or which involve intentional misconduct or a knowing
violation of law; (c) pursuant to section 174 of the Corporation Law; or (d) for
any transaction from which the director derived an improper personal benefit.
2. To the fullest extent authorized by the Corporation Law, the
Corporation shall indemnify any Corporate Servant who was or is a party or is
threatened to be made a party to any proceeding by reason of the fact that such
person was or is a Corporate Servant.
3. In serving or continuing to serve the Corporation, a Corporate
Servant is entitled to rely and shall be presumed to have relied on the rights
granted pursuant to the foregoing provisions of this Article IX, which shall be
enforceable as contract rights and inure to the benefit of heirs, executors and
administrators of the Corporate Servant; and no repeal or modification of the
foregoing provisions of this Article IX shall adversely affect any right
existing at the time of such repeal or modification.
4. The Board of Directors is authorized, to the extent permitted by
the Corporation Law, to cause the Corporation to pay expenses incurred by
Corporate Servants in defendant Proceedings and to purchase and maintain
insurance on their behalf whether or not the Corporation would have the power to
indemnify them under the provisions of this Article IX or otherwise.
5. Any right or privilege conferred by or pursuant to the provisions
of this Article IX shall not be exclusive of any other rights to which any
Corporate Servant may otherwise be entitled.
6. As used in this Article IX:
(a) `Corporate Servant' means any natural person who is or was a
director, officer, employee or agent of the Corporation, or is or was serving at
the request of the Corporation as a director, officer, manager, partner,
trustee, employee or agent of another corporation, partnership, joint venture,
trust or other organization or enterprise, nonprofit or otherwise, including an
employee benefit plan;
(b) `Corporation Law' means the General Corporation Law of the
State of Delaware, as from time to time amended;
(c) `Indemnify' means to hold harmless against expenses
(including attorneys' fees), judgments, fines (including excise taxes assessed
with respect to an employee benefit plan) and amounts paid in settlement
actually and reasonably incurred by the Corporate Servant in connection with a
Proceeding;
(d) `Proceeding' means any threatened, pending or completed
action, suit or proceeding, whether civil, criminal or administrative; and
(e) `Request of the Corporation' includes any written
authorization by an officer of the Corporation."
Section 145 of the General Corporation Law of the State of
Delaware, in which Chevron is incorporated, permits, subject to certain
conditions, the indemnification of directors or
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officers of a Delaware corporation for expenses (including attorneys' fees),
judgments, fines and amounts paid in settlement incurred in connection with the
defense of any action, suit or proceeding in relation to certain matters against
them as such directors or officers.
The directors and officers of Chevron are covered by policies of
insurance under which they are insured, within limits and subject to
limitations, against certain expenses in connection with the defense of actions,
suits or proceedings, and certain liabilities which might be imposed as a result
of such actions, suits or proceedings, in which they are parties by reason of
being or having been directors or officers; Chevron is similarly insured with
respect to certain payments it might be required to make to its directors or
officers under the applicable statutes and Chevron's by-law provisions.
ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED.
Not applicable.
ITEM 8. EXHIBITS.
See Index to Exhibits.
ITEM 9. UNDERTAKINGS.
(a) The undersigned Registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being
made of the securities registered hereby, a post-effective amendment to this
Registration Statement:
(A) to include any prospectus required by Section 10(a)(3) of
the Securities Act of 1933;
(B) to reflect in the prospectus any facts or events arising
after the effective date of the Registration Statement (or the most
recent post-effective amendment thereof) which, individually or in the
aggregate, represent a fundamental change in the information set forth
in the Registration Statement. Notwithstanding the foregoing, any
increase or decrease in volume of securities offered (if the dollar
value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the
estimated maximum offering range may be reflected in the form of
prospectus filed with the Commission pursuant to Rule 424(b) if, in
the aggregate, the changes in volume and price represent no more than
a 20% change in the maximum aggregate offering price set forth in the
"Calculation of Registration Fee" table in the effective Registration
Statement;
(C) to include any material information with respect to the plan
of distribution not previously disclosed in the Registration Statement
or any material change to such information in the Registration
Statement; provided, however, that paragraphs (a)(1)(A) and (a)(1)(B)
-----------------
do not apply if the information required to be included in a post-
effective amendment by those paragraphs is contained in periodic
reports filed by the Registrant pursuant to section 13 or section
15(d) of the Securities Exchange Act of 1934 that are incorporated by
reference in the Registration Statement.
(2) That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed to be
a new registration statement relating to the
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securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the
termination of the offering.
(b) The undersigned Registrant hereby undertakes that, for purposes
of determining any liability under the Securities Act of 1933, each filing of
the Registrant's annual report pursuant to section 13(a) or section 15(d) of the
Securities Exchange Act of 1934 that is incorporated by reference in the
Registration Statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.
(c) Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise,
the Registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed
in the Securities Act of 1933 and is, therefore, unenforceable. In the event
that a claim for indemnification against such liabilities (other than the
payment by the Registrant of expenses incurred or paid by a director, officer or
controlling person of the Registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person
in connection with the securities being registered, the Registrant will, unless
in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the
Securities Act of 1933 and will be governed by the final adjudication of such
issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized in the City of San Francisco, State of California, on the 14th day of
February, 1997.
CHEVRON CORPORATION
By KENNETH T. DERR*
--------------------------------
Kenneth T. Derr
Chairman of the Board
*By /s/ LYDIA I. BEEBE
--------------------------------
Lydia I. Beebe, Attorney-in-Fact
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below by the following persons on behalf
of the registrant and in the capacities indicated on the 14th day of February,
1997.
PRINCIPAL EXECUTIVE OFFICERS (AND DIRECTORS)
KENNETH T. DERR*
- ------------------------------------------
Kenneth T. Derr
Chairman of the Board
JAMES N. SULLIVAN*
- ------------------------------------------
James N. Sullivan
Vice-Chairman of the Board
PRINCIPAL FINANCIAL OFFICER
MARTIN R. KLITTEN*
- ------------------------------------------
Martin R. Klitten
Vice-President and Chief Financial Officer
PRINCIPAL ACCOUNTING OFFICER
STEPHEN J. CROWE*
- ------------------------------------------
Stephen J. Crowe
Comptroller
DIRECTORS
SAMUEL H. ARMACOST*
- ------------------------------------------
Samuel H. Armacost
Director
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RAYMOND E. GALVIN*
- ------------------------------------------
Raymond E. Galvin
Vice-President and Director
SAM GINN*
- ------------------------------------------
Sam Ginn
Director
CARLA A. HILLS*
- ------------------------------------------
Carla A. Hills
Director
CHARLES M. PIGOTT*
- ------------------------------------------
Charles M. Pigott
Director
CONDOLEEZZA RICE*
- ------------------------------------------
Condoleezza Rice
Director
FRANK A. SHRONTZ*
- ------------------------------------------
Frank A. Shrontz
Director
GEORGE H. WEYERHAEUSER*
- ------------------------------------------
George H. Weyerhaeuser
Director
JOHN A. YOUNG*
- ------------------------------------------
John A. Young
Director
*By /s/ LYDIA I. BEEBE
---------------------------------------
Lydia I. Beebe, Attorney-in-Fact
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INDEX TO EXHIBITS
Sequentially
Exhibit Number Numbered Page
- -------------- -------------
4.1 Rights Agreement dated as of November 22, -
1988 between Chevron Corporation and
Manufacturers Hanover Trust Company of
California, as Rights Agent, filed as Exhibit 4
to Chevron corporation's Current Report on
Form 8-K dated November 22, 1988 and
incorporated herein by reference.
4.2 Amendment No. 1 dated as of December 7, -
1989 to Rights Agreement dated as of
November 22, 1988 between Chevron
Corporation and Manufacturers Hanover Trust
Company of California, as Rights Agent, filed
as Exhibit 4.0 to Chevron Corporation's
Current Report on Form 8-K, dated December
7, 1989, and incorporated herein by reference.
5.1 Opinion regarding legality of the securities 10
being offered
23.1 Consent of Pillsbury Madison & Sutro LLP -
(included in Exhibit 5.1)
23.2 Consent of Price Waterhouse LLP 11
23.3 Consent of KPMG Peat Marwick LLP 12
24.1 Powers of Attorney for directors and certain 13
to officers of Chevron Corporation, authorizing
24.13 the signing of the registration statement on
Form S-8 on their behalf.
-9-
Exhibit 5.1
February 14, 1997
Chevron Corporation
575 Market Street
San Francisco, CA 94105
Re: Registration Statement on Form S-8
Ladies and Gentlemen:
With reference to the Registration Statement on Form S-8 to be filed
by the Chevron Corporation, a Delaware corporation (the "Company"), with the
Securities and Exchange Commission under the Securities Act of 1933, relating to
Deferred Compensation Obligations of Chevron Corporation in the principal amount
of $20,000,000 and 292,237 shares of the Company's Common Stock issuable
pursuant to the Company's Salary Deferral Plan for Management Employees (the
"Plan"), it is our opinion that such Deferred Compensation Obligations and such
shares of Common Stock of the Company, when issued and sold in accordance with
the Plan, will be legally issued, fully paid and nonassessable.
We hereby consent to the filing of this opinion with the Securities
and Exchange Commission as Exhibit 5.1 to the Registration Statement.
Very truly yours,
/s/ Pillsbury Madison & Sutro LLP
PILLSBURY MADISON & SUTRO LLP
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Exhibit 23.2
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in this Registration
Statement on Form S-8 of our report dated February 23, 1996, appearing on page
FS-12 of Chevron Corporation's Annual Report on Form 10-K for the year
ended December 31, 1995.
/s/ Price Waterhouse LLP
PRICE WATERHOUSE LLP
San Francisco, California
February 14, 1997
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Exhibit 23.3
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
We hereby consent to the incorporation by reference in this Registration
Statement on Form S-8 of our report dated February 12, 1996, relating to the
combined balance sheets of the Caltex Group of Companies as of December 31, 1995
and 1994 and the related combined statements of income, retained earnings and
cash flows for each of the years in the three-year period ended December 31,
1995, which report appears on page C-5 of Chevron Corporation's Annual
Report on Form 10-K for the year ended December 31, 1995.
/s/ KPMG Peat Marwick LLP
KPMG PEAT MARWICK LLP
Dallas, Texas
February 14, 1997
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EXHIBIT 24.1
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS:
WHEREAS, Chevron Corporation, a Delaware corporation (the "Corporation"),
contemplates filing with the Securities and Exchange Commission at Washington,
D.C., under the provisions of the Securities Act of 1933, as amended, and the
regulations promulgated thereunder, a Registration Statement on Form S-8 (and
amendments thereto, including post-effective amendments).
WHEREAS, the undersigned is an officer or director, or both, of the
Corporation.
N O W, T H E R E F O R E, the undersigned hereby constitutes and appoints
LYDIA I. BEEBE, HILMAN P. WALKER, TERRY MICHAEL KEE and BENJAMIN M. VANDEGRIFT,
or any of them, his or her attorneys-in-fact and agents, with full power of
substitution and resubstitution, for such person and in his or her name, place
and stead, in any and all capacities, to sign the aforementioned Registration
Statement (and any and all amendments thereto, including post-effective
amendments) and to file the same, with all exhibits thereto, and other documents
in connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents full power and authority to do and
perform each and every act and thing requisite and necessary to be done in and
about the premises, as fully as to all intents and purposes he or she might or
could do in person, hereby ratifying and confirming all that said attorneys-in-
fact and agents, or their substitutes, may lawfully do and cause to be done by
virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of January, 1997.
/s/ KENNETH T. DERR
-13-
EXHIBIT 24.2
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS:
WHEREAS, Chevron Corporation, a Delaware corporation (the "Corporation"),
contemplates filing with the Securities and Exchange Commission at Washington,
D.C., under the provisions of the Securities Act of 1933, as amended, and the
regulations promulgated thereunder, a Registration Statement on Form S-8 (and
amendments thereto, including post-effective amendments).
WHEREAS, the undersigned is an officer or director, or both, of the
Corporation.
N O W, T H E R E F O R E, the undersigned hereby constitutes and appoints
LYDIA I. BEEBE, HILMAN P. WALKER, TERRY MICHAEL KEE and BENJAMIN M. VANDEGRIFT,
or any of them, his or her attorneys-in-fact and agents, with full power of
substitution and resubstitution, for such person and in his or her name, place
and stead, in any and all capacities, to sign the aforementioned Registration
Statement (and any and all amendments thereto, including post-effective
amendments) and to file the same, with all exhibits thereto, and other documents
in connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents full power and authority to do and
perform each and every act and thing requisite and necessary to be done in and
about the premises, as fully as to all intents and purposes he or she might or
could do in person, hereby ratifying and confirming all that said attorneys-in-
fact and agents, or their substitutes, may lawfully do and cause to be done by
virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of January, 1997.
/s/ JAMES N. SULLIVAN
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EXHIBIT 24.3
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS:
WHEREAS, Chevron Corporation, a Delaware corporation (the "Corporation"),
contemplates filing with the Securities and Exchange Commission at Washington,
D.C., under the provisions of the Securities Act of 1933, as amended, and the
regulations promulgated thereunder, a Registration Statement on Form S-8 (and
amendments thereto, including post-effective amendments).
WHEREAS, the undersigned is an officer or director, or both, of the
Corporation.
N O W, T H E R E F O R E, the undersigned hereby constitutes and appoints
LYDIA I. BEEBE, HILMAN P. WALKER, TERRY MICHAEL KEE and BENJAMIN M. VANDEGRIFT,
or any of them, his or her attorneys-in-fact and agents, with full power of
substitution and resubstitution, for such person and in his or her name, place
and stead, in any and all capacities, to sign the aforementioned Registration
Statement (and any and all amendments thereto, including post-effective
amendments) and to file the same, with all exhibits thereto, and other documents
in connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents full power and authority to do and
perform each and every act and thing requisite and necessary to be done in and
about the premises, as fully as to all intents and purposes he or she might or
could do in person, hereby ratifying and confirming all that said attorneys-in-
fact and agents, or their substitutes, may lawfully do and cause to be done by
virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of January, 1997.
/s/ MARTIN R. KLITTEN
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EXHIBIT 24.4
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS:
WHEREAS, Chevron Corporation, a Delaware corporation (the "Corporation"),
contemplates filing with the Securities and Exchange Commission at Washington,
D.C., under the provisions of the Securities Act of 1933, as amended, and the
regulations promulgated thereunder, a Registration Statement on Form S-8 (and
amendments thereto, including post-effective amendments).
WHEREAS, the undersigned is an officer or director, or both, of the
Corporation.
N O W, T H E R E F O R E, the undersigned hereby constitutes and appoints
LYDIA I. BEEBE, HILMAN P. WALKER, TERRY MICHAEL KEE and BENJAMIN M. VANDEGRIFT,
or any of them, his or her attorneys-in-fact and agents, with full power of
substitution and resubstitution, for such person and in his or her name, place
and stead, in any and all capacities, to sign the aforementioned Registration
Statement (and any and all amendments thereto, including post-effective
amendments) and to file the same, with all exhibits thereto, and other documents
in connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents full power and authority to do and
perform each and every act and thing requisite and necessary to be done in and
about the premises, as fully as to all intents and purposes he or she might or
could do in person, hereby ratifying and confirming all that said attorneys-in-
fact and agents, or their substitutes, may lawfully do and cause to be done by
virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of January, 1997.
/s/ STEPHEN J. CROWE
-16-
EXHIBIT 24.5
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS:
WHEREAS, Chevron Corporation, a Delaware corporation (the "Corporation"),
contemplates filing with the Securities and Exchange Commission at Washington,
D.C., under the provisions of the Securities Act of 1933, as amended, and the
regulations promulgated thereunder, a Registration Statement on Form S-8 (and
amendments thereto, including post-effective amendments).
WHEREAS, the undersigned is an officer or director, or both, of the
Corporation.
N O W, T H E R E F O R E, the undersigned hereby constitutes and appoints
LYDIA I. BEEBE, HILMAN P. WALKER, TERRY MICHAEL KEE and BENJAMIN M. VANDEGRIFT,
or any of them, his or her attorneys-in-fact and agents, with full power of
substitution and resubstitution, for such person and in his or her name, place
and stead, in any and all capacities, to sign the aforementioned Registration
Statement (and any and all amendments thereto, including post-effective
amendments) and to file the same, with all exhibits thereto, and other documents
in connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents full power and authority to do and
perform each and every act and thing requisite and necessary to be done in and
about the premises, as fully as to all intents and purposes he or she might or
could do in person, hereby ratifying and confirming all that said attorneys-in-
fact and agents, or their substitutes, may lawfully do and cause to be done by
virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of January, 1997.
/s/ SAMUEL H. ARMACOST
-17-
EXHIBIT 24.6
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS:
WHEREAS, Chevron Corporation, a Delaware corporation (the "Corporation"),
contemplates filing with the Securities and Exchange Commission at Washington,
D.C., under the provisions of the Securities Act of 1933, as amended, and the
regulations promulgated thereunder, a Registration Statement on Form S-8 (and
amendments thereto, including post-effective amendments).
WHEREAS, the undersigned is an officer or director, or both, of the
Corporation.
N O W, T H E R E F O R E, the undersigned hereby constitutes and appoints
LYDIA I. BEEBE, HILMAN P. WALKER, TERRY MICHAEL KEE and BENJAMIN M. VANDEGRIFT,
or any of them, his or her attorneys-in-fact and agents, with full power of
substitution and resubstitution, for such person and in his or her name, place
and stead, in any and all capacities, to sign the aforementioned Registration
Statement (and any and all amendments thereto, including post-effective
amendments) and to file the same, with all exhibits thereto, and other documents
in connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents full power and authority to do and
perform each and every act and thing requisite and necessary to be done in and
about the premises, as fully as to all intents and purposes he or she might or
could do in person, hereby ratifying and confirming all that said attorneys-in-
fact and agents, or their substitutes, may lawfully do and cause to be done by
virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of January, 1997.
/s/ RAYMOND E. GALVIN
-18-
EXHIBIT 24.7
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS:
WHEREAS, Chevron Corporation, a Delaware corporation (the "Corporation"),
contemplates filing with the Securities and Exchange Commission at Washington,
D.C., under the provisions of the Securities Act of 1933, as amended, and the
regulations promulgated thereunder, a Registration Statement on Form S-8 (and
amendments thereto, including post-effective amendments).
WHEREAS, the undersigned is an officer or director, or both, of the
Corporation.
N O W, T H E R E F O R E, the undersigned hereby constitutes and appoints
LYDIA I. BEEBE, HILMAN P. WALKER, TERRY MICHAEL KEE and BENJAMIN M. VANDEGRIFT,
or any of them, his or her attorneys-in-fact and agents, with full power of
substitution and resubstitution, for such person and in his or her name, place
and stead, in any and all capacities, to sign the aforementioned Registration
Statement (and any and all amendments thereto, including post-effective
amendments) and to file the same, with all exhibits thereto, and other documents
in connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents full power and authority to do and
perform each and every act and thing requisite and necessary to be done in and
about the premises, as fully as to all intents and purposes he or she might or
could do in person, hereby ratifying and confirming all that said attorneys-in-
fact and agents, or their substitutes, may lawfully do and cause to be done by
virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of January, 1997.
/s/ SAM GINN
-19-
EXHIBIT 24.8
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS:
WHEREAS, Chevron Corporation, a Delaware corporation (the "Corporation"),
contemplates filing with the Securities and Exchange Commission at Washington,
D.C., under the provisions of the Securities Act of 1933, as amended, and the
regulations promulgated thereunder, a Registration Statement on Form S-8 (and
amendments thereto, including post-effective amendments).
WHEREAS, the undersigned is an officer or director, or both, of the
Corporation.
N O W, T H E R E F O R E, the undersigned hereby constitutes and appoints
LYDIA I. BEEBE, HILMAN P. WALKER, TERRY MICHAEL KEE and BENJAMIN M. VANDEGRIFT,
or any of them, his or her attorneys-in-fact and agents, with full power of
substitution and resubstitution, for such person and in his or her name, place
and stead, in any and all capacities, to sign the aforementioned Registration
Statement (and any and all amendments thereto, including post-effective
amendments) and to file the same, with all exhibits thereto, and other documents
in connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents full power and authority to do and
perform each and every act and thing requisite and necessary to be done in and
about the premises, as fully as to all intents and purposes he or she might or
could do in person, hereby ratifying and confirming all that said attorneys-in-
fact and agents, or their substitutes, may lawfully do and cause to be done by
virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of January, 1997.
/s/ CARLA A. HILLS
-20-
EXHIBIT 24.9
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS:
WHEREAS, Chevron Corporation, a Delaware corporation (the "Corporation"),
contemplates filing with the Securities and Exchange Commission at Washington,
D.C., under the provisions of the Securities Act of 1933, as amended, and the
regulations promulgated thereunder, a Registration Statement on Form S-8 (and
amendments thereto, including post-effective amendments).
WHEREAS, the undersigned is an officer or director, or both, of the
Corporation.
N O W, T H E R E F O R E, the undersigned hereby constitutes and appoints
LYDIA I. BEEBE, HILMAN P. WALKER, TERRY MICHAEL KEE and BENJAMIN M. VANDEGRIFT,
or any of them, his or her attorneys-in-fact and agents, with full power of
substitution and resubstitution, for such person and in his or her name, place
and stead, in any and all capacities, to sign the aforementioned Registration
Statement (and any and all amendments thereto, including post-effective
amendments) and to file the same, with all exhibits thereto, and other documents
in connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents full power and authority to do and
perform each and every act and thing requisite and necessary to be done in and
about the premises, as fully as to all intents and purposes he or she might or
could do in person, hereby ratifying and confirming all that said attorneys-in-
fact and agents, or their substitutes, may lawfully do and cause to be done by
virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of January, 1997.
/s/ CHARLES M. PIGOTT
-21-
EXHIBIT 24.10
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS:
WHEREAS, Chevron Corporation, a Delaware corporation (the "Corporation"),
contemplates filing with the Securities and Exchange Commission at Washington,
D.C., under the provisions of the Securities Act of 1933, as amended, and the
regulations promulgated thereunder, a Registration Statement on Form S-8 (and
amendments thereto, including post-effective amendments).
WHEREAS, the undersigned is an officer or director, or both, of the
Corporation.
N O W, T H E R E F O R E, the undersigned hereby constitutes and appoints
LYDIA I. BEEBE, HILMAN P. WALKER, TERRY MICHAEL KEE and BENJAMIN M. VANDEGRIFT,
or any of them, his or her attorneys-in-fact and agents, with full power of
substitution and resubstitution, for such person and in his or her name, place
and stead, in any and all capacities, to sign the aforementioned Registration
Statement (and any and all amendments thereto, including post-effective
amendments) and to file the same, with all exhibits thereto, and other documents
in connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents full power and authority to do and
perform each and every act and thing requisite and necessary to be done in and
about the premises, as fully as to all intents and purposes he or she might or
could do in person, hereby ratifying and confirming all that said attorneys-in-
fact and agents, or their substitutes, may lawfully do and cause to be done by
virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of January, 1997.
/s/ CONDOLEEZA RICE
-22-
EXHIBIT 24.11
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS:
WHEREAS, Chevron Corporation, a Delaware corporation (the "Corporation"),
contemplates filing with the Securities and Exchange Commission at Washington,
D.C., under the provisions of the Securities Act of 1933, as amended, and the
regulations promulgated thereunder, a Registration Statement on Form S-8 (and
amendments thereto, including post-effective amendments).
WHEREAS, the undersigned is an officer or director, or both, of the
Corporation.
N O W, T H E R E F O R E, the undersigned hereby constitutes and appoints
LYDIA I. BEEBE, HILMAN P. WALKER, TERRY MICHAEL KEE and BENJAMIN M. VANDEGRIFT,
or any of them, his or her attorneys-in-fact and agents, with full power of
substitution and resubstitution, for such person and in his or her name, place
and stead, in any and all capacities, to sign the aforementioned Registration
Statement (and any and all amendments thereto, including post-effective
amendments) and to file the same, with all exhibits thereto, and other documents
in connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents full power and authority to do and
perform each and every act and thing requisite and necessary to be done in and
about the premises, as fully as to all intents and purposes he or she might or
could do in person, hereby ratifying and confirming all that said attorneys-in-
fact and agents, or their substitutes, may lawfully do and cause to be done by
virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of January, 1997.
/s/ FRANK A. SHRONTZ
-23-
EXHIBIT 24.12
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS:
WHEREAS, Chevron Corporation, a Delaware corporation (the "Corporation"),
contemplates filing with the Securities and Exchange Commission at Washington,
D.C., under the provisions of the Securities Act of 1933, as amended, and the
regulations promulgated thereunder, a Registration Statement on Form S-8 (and
amendments thereto, including post-effective amendments).
WHEREAS, the undersigned is an officer or director, or both, of the
Corporation.
N O W, T H E R E F O R E, the undersigned hereby constitutes and appoints
LYDIA I. BEEBE, HILMAN P. WALKER, TERRY MICHAEL KEE and BENJAMIN M. VANDEGRIFT,
or any of them, his or her attorneys-in-fact and agents, with full power of
substitution and resubstitution, for such person and in his or her name, place
and stead, in any and all capacities, to sign the aforementioned Registration
Statement (and any and all amendments thereto, including post-effective
amendments) and to file the same, with all exhibits thereto, and other documents
in connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents full power and authority to do and
perform each and every act and thing requisite and necessary to be done in and
about the premises, as fully as to all intents and purposes he or she might or
could do in person, hereby ratifying and confirming all that said attorneys-in-
fact and agents, or their substitutes, may lawfully do and cause to be done by
virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of January, 1997.
/s/ GEORGE H. WEYERHAEUSER
-24-
EXHIBIT 24.13
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS:
WHEREAS, Chevron Corporation, a Delaware corporation (the "Corporation"),
contemplates filing with the Securities and Exchange Commission at Washington,
D.C., under the provisions of the Securities Act of 1933, as amended, and the
regulations promulgated thereunder, a Registration Statement on Form S-8 (and
amendments thereto, including post-effective amendments).
WHEREAS, the undersigned is an officer or director, or both, of the
Corporation.
N O W, T H E R E F O R E, the undersigned hereby constitutes and appoints
LYDIA I. BEEBE, HILMAN P. WALKER, TERRY MICHAEL KEE and BENJAMIN M. VANDEGRIFT,
or any of them, his or her attorneys-in-fact and agents, with full power of
substitution and resubstitution, for such person and in his or her name, place
and stead, in any and all capacities, to sign the aforementioned Registration
Statement (and any and all amendments thereto, including post-effective
amendments) and to file the same, with all exhibits thereto, and other documents
in connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents full power and authority to do and
perform each and every act and thing requisite and necessary to be done in and
about the premises, as fully as to all intents and purposes he or she might or
could do in person, hereby ratifying and confirming all that said attorneys-in-
fact and agents, or their substitutes, may lawfully do and cause to be done by
virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of January, 1997.
/s/ JOHN A. YOUNG
-25-
