EX-10.1



 Exhibit 10.1 
 EXECUTIVE EMPLOYMENT AGREEMENT 
 THIS EXECUTIVE EMPLOYMENT AGREEMENT
(this “Agreement”) is made to be effective as of January 01, 2013 (the “Commencement Date”), by and between Frontier Oilfield Services, Inc., a publicly traded Texas corporation (“FOSI”) (including all affiliates
and subsidiaries hereinafter called the “Company”), and Frank J. Iannelli (hereinafter called the “Executive”). 
 W I T N E S S E T H: 
 WHEREAS, the Executive desires to enter into
an executive employment relationship with the Company; and 
 WHEREAS, both the Company and Executive have read and
understood the terms and provisions set forth in this Agreement and have been afforded a reasonable opportunity to review this Agreement with their respective advisors; 
 NOW, THEREFORE, in consideration of the mutual promises of each, and other good and valuable consideration, the parties hereby covenant and agree as follows: 

1. SERVICES AND DUTIES 
 (a) Positions. The Executive shall serve as the Chief Operating Officer of Frontier Oilfield Services, Inc. The Executive shall report to the President and CEO of the Company and shall
perform all duties consistent with this position and such duties generally consistent therewith; and as such duties shall be prescribed and/or amended from time to time by the President. 

(b) Devotion of Time. As of the Commencement Date (as defined above), the Executive shall devote his full
time and attention to the Company and FOSI. 
 (c) No Joint Venture. The provisions of this Agreement, and
especially the compensation provisions, are not intended to create any relationship between the Parties other than that of employer and employee contracting with each other solely for the purpose of effecting the provisions of this Agreement, and
this Agreement shall not be construed as creating a partnership or joint venture between the parties. 
 2. TERM

 This Agreement shall begin on the Commencement Date and end on the last day of 2013 (the “Original Term”).
Thereafter, this Agreement shall automatically renew for successive one (1) year terms unless otherwise terminated as provided herein. 
 3. COMPENSATION AND RELATED MATTERS 
 (a) Base
Salary. From and after the Commencement Date, the Executive shall receive an initial base salary (the “Base Salary”) paid by the Company of $10,000 per month, payable semi-monthly. ($120,000 annually). Within 90 days of the execution
of the Agreement Executive’s Base Salary will be reviewed and an adjustment will be made according to said review. 

  
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 (b) Shares. The Executive will be entitled to the issuance of certain
restricted common stock of FOSI for services rendered. Upon the execution of the Agreement 100,000 shares of FOSI common stock will be set aside for distribution to Executive on a per annum basis (25,000 shares per quarter) beginning
March 31, 2013. 
 (c) Stock Grant. The Executive will receive a grant of 200,000 restricted common
shares as a sign on bonus for his services as Chief Operating Officer of the Company. However the granted shares will vest at the end of each quarter at the rate of 50,000 shares per quarter for the calendar year ending December 31, 2013. In
the event Executive is terminated or resigns pursuant to Section 4 of this Agreement, prior to the end of said one year period the granted shares not vested at the date of termination or resignation must be immediately surrendered and returned
to FOSI. The common stock granted and issued to Executive will bear the appropriate legend and FOSI will place an appropriate stop transfer with the Transfer Agent for FOSI. Prior to the vesting in full of the one-time grant of 200,000 shares of
restricted common stock, you agree not to assign, hypothecate, donate, encumber or otherwise dispose of any interest in any of said 200,000 shares of restricted common stock. 

(d) Bonus. The Executive will participate in an annual cash bonus plan specifically relating to the operating
performance metrics associated with each FOSI operating subsidiary based upon the following criteria: 
  

	 	•	 	 EBITDA increase from the base period to the end of each fiscal year ending December 31; 



 

	 	•	 	 Increase operating efficiencies; 


  

	 	•	 	 Revenue metrics; and 


  

	 	•	 	 Cost containment metrics 


 (e) Benefits. In addition to the Base Salary, the Executive will be entitled to the following benefits during the Employment Period if offered by the Company, unless otherwise altered by the Board
with respect to all Executives of the Company: 
 (i) hospitalization, disability, life and health insurance, to
the extent offered by the Company, and in amounts consistent with Company policy, for all key management employees, as reasonably determined by the Board; 
 (ii) Paid vacation each year with salary, consistent with Company policy for all senior employees and provided that unused vacation time shall not be carried over to subsequent years; 

(iii) reimbursement for reasonable, ordinary and necessary out-of-pocket expenses incurred by Executive in the performance
of his duties, subject to the Company’s policies in effect from time to time with respect to travel, entertainment and other expenses, including, without limitation, requirements with respect to reporting and documentation of such expenses.


  
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 (iv) Other benefit arrangements, including a 401(k) or similar tax deferral
plan, to the extent made generally available by the Company to its Executives and key management employees. 

(f) Other Benefits. The Executive shall be entitled to participate in other benefit plans to which he is eligible
pursuant to Company policy, which may be amended from time to time in the Company’s discretion and the applicable plan documents (the “Standard Benefit Plans”). See, “Exhibit A” to this contract. 

(g) Business Expenses. During the Term, the Company shall pay or reimburse you for all reasonable and necessary
business-related expenses you incur in the performance of your duties under this Agreement, including without limitation expenses related to visiting various Company locations. The Company will pay or reimburse you for all such expenses upon the
presentation by you of an itemized account of such expenditures, together with supporting receipts and other appropriate documentation showing that any such expenditure was ordinary and reasonable business-related expenses. 

(h) Car Allowance. Executive shall be entitled to a “Car Allowance” of $1,050.00 per month, which shall
be paid periodically together with his salary. The Executive’s vehicle should be, above all, highly reliable, safe and secure for the user, while meeting some of the user’s personal preferences and needs. 

4. TERMINATION 
 This Employment Agreement is expressly written to override the Texas at-will principle; and therefore, the Executive’s employment may only be terminated by the Company or the Executive, under the
following circumstances: 
 (a) Mutual Agreement. Termination may occur by mutual written agreement
between the Executive and the Company. 
 (b) Death. Employment shall terminate upon the death of the
Executive. 
 (c) Disability. Termination will result if the Executive is unable to perform his duties on
a full-time basis because of Executive’s inability to perform his duties under this Agreement, without reasonable accommodation, for a period of more than sixty (60) days (“Disability”). 

(d) Termination of the Executive’s employment for “Cause.” For purposes of this Agreement, the
Company shall have “Cause” to terminate the Executive’s employment hereunder only upon: 
 (i) the
failure by the Executive to substantially perform his duties as outlined hereunder or to follow the reasonable directions of the Board after demand for substantial performance is delivered by the Board; 

  
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 (ii) the engaging by the Executive in conduct that is materially injurious
to the Company, monetarily or otherwise; 
 (iii) the engaging by the Executive in criminal conduct or conduct
constituting moral turpitude; 
 (iv) The engaging by the Executive in employment practices which violate
federal, state or local law. 
 (v) The engaging in conduct by the Executive which results in an action against
him by the Securities and Exchange Commission or any similar state regulatory agency or loss of his ability to act as a Chief Operating Officer. 
 (e) Termination Without Cause. Notwithstanding any provisions of this Agreement to the contrary, the Company may not terminate the Executive’s employment for any reason other than those
specified in the foregoing paragraphs (a), (b), (c) or (d) . 
 (f) Voluntary Resignation.
The Executive may terminate this Agreement (“Voluntary Resignation”) at any time effective upon thirty (30) days written notice to the Board. 
 5. COMPENSATION AND PAYMENTS UPON TERMINATION 
 The Executive shall be
entitled to the following compensation from the Company (in lieu of all other sums payable to the Executive hereunder) upon the termination of Executive’s employment. 

(a) Mutual Agreement. If the Executive’s employment is terminated as a result of mutual agreement, the
Company shall pay the Executive’s Base Salary, plus any lump sum payment for the value of all accrued, earned and unused benefits under the Standard Benefit Plans through the date of termination, and the Executive will be entitled to
receive any vested pension and retirement benefits (for all purposes of this Agreement, all such accrued, earned and unpaid items through the applicable date of termination are referred to as the “Earned Amounts”). 

(b) Death. If the Executive’s employment is terminated as a result of death, the Company will pay to the
Executive’s estate the Earned Amounts. 
 (c) Disability. If the Executive’s employment is
terminated as a result of Disability (as defined in Section 4(c) above), the Executive will be provided long term disability benefits to which he may be eligible (if any) in accordance with the Company’s then existing Standard Benefit
Plans, and the Company shall pay to the Executive the Earned Amounts. 
 (d) Termination by the Executive.
In the event the Executive voluntarily elects to terminate this Agreement, the Company shall pay the Executive any Earned Amounts. 

  
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 (e) Termination for Cause. If the Executive’s employment is
terminated for Cause, the Company shall pay the Executive any Earned Amounts and the Company shall have no further obligation to the Executive. 
 6. NON-DISCLOSURE 
 (a) Confidential Information. By
virtue of his employment with the Company, the Executive will have access to confidential, proprietary, and highly sensitive information relating to the business of the Company and which is a valuable, competitive and unique asset of the Company
(“Confidential Information”), the confidentiality of which is essential to the Company’s ability to differentiate its products and services. Such Confidential Information includes all information which relates to the business of the
Company, which is or has been disclosed to the Executive orally or in writing by the Company or obtained by virtue of work performed for the Company, is or was developed by the Company, and is not generally available to or known by individuals or
entities within the industry in which the Company is or may become engaged or readily accessible by independent investigation. The Confidential Information sought to be protected includes, without limitation, information pertaining to: (i) the
identities of customers and clients with which or whom the Company does or seeks to do business, as well as the point of contact persons and decision-makers at these customers and clients, including their names, addresses, e-mail addresses and
positions; (ii) the past or present purchasing history and the past and/or current job requirements of each past and/or existing customer and client; (iii) the volume of business and the nature of the business relationship between the
Company and its customers and clients; (iv) the pricing of the Company’s services, including any deviations from its standard pricing for particular customers and clients; (v) the Company’s business plans and strategy, including
customer or client assignments and rearrangements, sales and administrative staff expansions, marketing and sales plans and strategy, proposed adjustments in compensation of sales personnel, revenue, expense and profit projections, industry
analyses, and any proposed or actual implemented technology changes; (vi) information regarding the Company’s employees, including their identities, skills, talents, knowledge, experience, and compensation; (vii) the Company’s
financial results and business condition; and (viii) computer programs and software developed by the Company and tailored to the Company’s needs by its employees, independent contractors, consultants or vendors; (ix) information
relating to the Company’s architects, designers, contractors, or persons likely to become architects, designers, or contractors; (x) any past or present merchandise or supply sources in the future; (xi) technical and non-technical
information including patent, copyright, trade secret, proprietary information, methods, ideas, concepts, designs, inventions, know-how, processes, software programs, software source documents and formulae related to the current, future and proposed
products and services of the Company including research, experimental work, development, design details and specifications and engineering, financial statements, forecasts, plans (whether business, strategic, marketing or other), client lists,
prospective client lists, sales data, sales analysis, equipment and other assets, prices, costs, sources of supplies, pricing methods, personnel, marketing research, and business relationships, whether or not marked “Confidential” or
“Proprietary”. Confidential Information may be contained on the Company’s computer network, in computerized documents or files, or in any written or printed documents, including any written reports summarizing such information.


  
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 (b) Non-Disclosure of Confidential Information. The Executive
acknowledges that the Company’s Confidential Information will be disclosed to the Executive throughout his employment at the Company in order to enable the Executive to perform his duties for the Company. The Executive further acknowledges
that, prior to his employment at the Company, Executive was either unfamiliar with the Company’s Confidential Information or Executive developed such Confidential Information for the benefit of the Company and was otherwise compensated for such
services outside of the terms of this Agreement. Finally, Executive acknowledges that the unauthorized disclosure of Confidential Information could place the Company at a competitive disadvantage. Consequently, Executive agrees (i) not to use,
publish, disclose or divulge, directly or indirectly, at any time, any Confidential Information for his own benefit and for the benefit of any person, entity, or corporation other than the Company, to any person who is not a current employee of the
Company, without the express, written consent of the Company and except in the performance of the duties assigned to him by the Company; (ii) not to make copies of Confidential Information without the prior written consent of the Company;
(iii) to take reasonable precautions to protect against the inadvertent disclosure of such Confidential Information or theft or misappropriation by others; and (iv) not to use such Confidential Information except in connection with the
specific duties of the Executive in connection with his employment. 
 (c) Notwithstanding the foregoing, the
confidentiality and nondisclosure provisions contained herein with respect to any portion of the Confidential Information shall terminate when the Executive can document that the Confidential Information: 

(i) was in the public domain at the same time it was communicated to the Executive by the Company; 

(ii) entered the public domain subsequent to the time it was communicated to the Executive by the Company through no fault
of the Executive; 
 (iii) was in the Executive’s possession free of any obligation of confidence at the
time it was communicated to the Executive by the Company; 
 (iv) was rightfully communicated to the Executive
free of any obligation of confidence subsequent to the time it was communicated to the Executive by the Company; 

(v) was developed by the Executive independently of and without any reference to any information communicated to the
Executive by the Company; or 

  
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 (vi) Was communicated in response to a valid subpoena or order by a court or
by a governmental body, provided that the Executive complies with the provisions of Section 6(e) below. 

(d) Survival of Executive’s Obligations. Executive understands and agrees that his obligations under this
Section shall survive the termination of this Agreement and/or his employment with the Company. Executive further understands and agrees that his obligations under this Section are in addition to, and not in limitation or preemption of, all other
obligations of confidentiality which he may have to the Company under general legal (Securities and Exchange Commission and state securities laws and regulations) or equitable principles, or other policies implemented by the Company. 

(e) Certain Disclosures. In the event that the Executive receives a request to disclose all or any part of the
Confidential Information under the terms of a subpoena or order issued by a court or by a governmental body, the Executive agrees (i) to notify the Company immediately of the existence, terms, and circumstances surrounding such request,
(ii) to consult with the Executive on the advisability of taking legal available steps to resist or narrow such request, and (iii) if disclosure of such Confidential Information is required to prevent the Executive from being held in
contempt or subject to other penalty, to furnish only such portion of the Confidential Information as, in the opinion of counsel to the Executive, it is legally compelled to disclose and to exercise its best efforts to obtain an order or other
reliable assurance that confidential treatment will be accorded to the disclosed Confidential Information. 
 7. RETURN OF
COMPANY PROPERTY 
 Executive acknowledges that all memoranda, notes, correspondence, databases, computer discs, computer
files, computer equipment and/or accessories, pagers, telephones, passwords or pass codes, records, reports, manuals, books, papers, letters, CD Roms, keys, Internet database access codes, client profile data, job orders, client and customer lists,
contracts, software programs, information and records, drafts of instructions, guides and manuals, and other documentation (whether in draft or final form), and other sales, financial or technological information relating to the Company’s
business, and any and all other documents containing Confidential Information furnished to Executive by any representative of the Company or otherwise acquired or developed by him in connection with his association with the Company (collectively,
“Recipient Materials”) shall at all times be the property of the Company. Within twenty-four (24) hours of the termination of his employment for any reason, Executive will return to the Company any Recipient Materials which are in his
possession, custody or control. 
 8. NON-SOLICITATION OF CUSTOMERS/CLIENTS 

(a) Access to Confidential Information. Executive acknowledges that the special relationship of trust and
confidence between him, the Company, and its clients and customers creates a high risk and opportunity for Executive to misappropriate the relationship and goodwill existing between the Company and its clients and customers. Executive further
acknowledges and agrees that it is fair and reasonable for the Company to take steps to protect itself from the risk of such misappropriation. Executive further acknowledges that, at the outset of his


  
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employment with the Company and/or throughout his employment with the Company, Executive has been or will be provided with access to and informed of the Company’s Confidential Information,
which will enable him to benefit from the Company’s goodwill and know-how. 
 (b) Inevitable
Disclosure. Executive acknowledges that it would be inevitable in the performance of his duties as a director, officer, employee, investor, agent or consultant of any person, association, entity, or company which competes with the Company, or
which intends to or may compete with the Company, to disclose and/or use the Company’s Confidential Information, as well as to misappropriate the Company’s goodwill and know-how, to or for the benefit of such other person, association,
entity, or company. Executive also acknowledges that, in exchange for the execution of the non-solicitation restriction set forth in this Section 8(b), he has received substantial, valuable consideration, including the consideration set forth
in Sections 3 and 5 above. Executive further acknowledges and agrees that this consideration constitutes fair and adequate consideration for the execution of the non-solicitation restriction set forth in this Section. 

(c) Non-Solicitation of Customers/Clients. Ancillary to the enforceable promises set forth in this Agreement
including, without limitation, the promises contained in Sections 3, 6 and 7, as well as to protect the vital interests described in those Sections, Executive agrees that, while he is employed by the Company and for a period of twelve
(12) months following the termination of his employment with the Company, regardless of the reason for such termination, Executive will not, without the prior written consent of the Company, directly or indirectly, alone or for his own account,
or as owner, partner, investor, member, trustee, officer, director, shareholder, employee, consultant, distributor, advisor, representative or agent of any partnership, joint venture, corporation, trust, or other business organization or entity,
(i) contact, solicit sales of, or sell, deliver or place any product, service or system of the kind and character sold, provided, distributed or placed by Executive on behalf of the Company to any person, association, corporation or other
business organization or entity that Executive contacted, solicited, called upon, or served, or that he directed others to solicit, call upon, or serve, on behalf of the Company, during his employment at the Company; or (ii) contact, solicit,
or seek to divert the business or patronage of any person, association, corporation, or other business organization or entity with whom or which Executive had business relations on behalf of the Company or with whom or which he met or communicated,
or with whom or which he directed others to meet or communicate, for the purpose of offering to sell or place or solicit for sale or placement any product, service, or system of the kind and character sold, provided or distributed by him, on behalf
of the Company, during his employment at the Company. 
 (d) Reasonable Restrictions. Executive agrees
that the restriction set forth above is ancillary to an otherwise enforceable agreement, is supported by independent valuable consideration, and that the limitations as to time, geographical area, and scope of activity to be restrained by this
Section are reasonable and acceptable, and do not impose any greater restraint than is reasonably necessary to protect the goodwill and other business interests of the Company. Executive agrees that if, at some later date, a court of competent


  
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jurisdiction determines that the non-solicitation agreement set forth in this Section does not meet the criteria set forth in Tex. Bus. & Comm. Code Ann. 15.50(2), this Section may
be reformed by the court and enforced to the maximum extent permitted under Texas law. 
 (e) Breach. If
Executive is found to have violated any of the provisions of this Section, Executive agrees that the restrictive period of each covenant so violated shall be extended by a period of time equal to the period of such violation by him. Executive
understands that his obligations under this Section shall survive the termination of his employment with the Company and shall not be assignable by him. 
 9. NON-SOLICITATION OF EMPLOYEES AND CONSULTANTS 
 Executive acknowledges
that, as part of his employment or association with the Company, he will become familiar with the salary, pay scale, capabilities, experiences, skill and desires of the Company’s employees. In order to protect the confidentiality of such
information, Executive agrees that, for a period of twelve (12) months following the termination of his employment with the Company, whether such termination occurs at the insistence of Executive or the Company, Executive shall not recruit,
hire, solicit, or attempt to recruit, hire or solicit, directly or by assisting others, any other employees or consultants employed by or associated with the Company, nor shall he contact or communicate with any other employees or consultants of the
Company for the purpose of inducing other employees or consultants to terminate their employment or association with the Company. For purposes of this covenant, “other employees or consultants” shall refer to permanent employees, temporary
employees, or consultants who were employed by, doing business with, or associated with the Company within six (6) months of the time of the attempted recruiting, hiring or solicitation. Executive’s obligations under this Section 9
shall survive the termination of this Agreement and Executive’s employment with the Company. 
 10. REMEDIES

 In the event that Executive violates any of the provisions set forth in Sections 6, 7, 8, or 9 of this Agreement, he
acknowledges that the Company will suffer immediate and irreparable harm which cannot be accurately calculated in monetary damages. Consequently, Executive acknowledges and agrees that the Company shall be entitled to immediate injunctive relief,
either by temporary or permanent injunction, to prevent such a violation. Executive further acknowledges and agrees that this injunctive relief shall be in addition to any other legal or equitable relief, including monetary damages, to which the
Company would be entitled. 
 11. INVENTIONS, IDEAS/PATENTABLE INVENTIONS 

(a) Inventions. Any discovery, invention, design, improvement, concept or other intellectual properties, either
patentable or not, made, developed or conceived by the Executive during the term of the Agreement, and for twelve (12) months after termination thereof, which relate to or are useful in the business or activities in which the Company is or may
become engaged, and which may or may not also constitute Confidential Information (the “Inventions”), shall be the exclusive property of the Company and its successors. 

  
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 (b) Disclosure to the Company. The Executive agrees to disclose
promptly, in writing, if so requested, to the Company, any Inventions that the Executive may make, develop or conceive during the term of this Agreement by the Company or its successors. 

(c) Work for Hire. The Executive agrees that the Inventions shall be deemed “work made for hire” and
hereby assigns, and agrees to assign, to the Company all the Executive’s rights, title and interest in any such Inventions, whether or not during the term of this Agreement such Inventions may be reduced to practice, and to execute all patent
applications, copyright applications, assignments and other documents, and to take all other steps necessary (but all at the Company’s expense), to vest in the Company the entire right, title and interest in and to those Inventions and in and
to any patents or copyrights obtainable therefor in the United States and in foreign countries. 
 (d)
Obligation to Assign Inventions to the Company. The Executive shall not be obligated to assign to the Company any Invention made by him during the Relationship or after termination of this Agreement which does not relate to any
business or activity in which the Company is or may become engaged, except that the Executive is so obligated if the same relates to or is based on Confidential Information to which the Executive shall have had access during and by virtue of his
employment or arises out of work assigned to him by the Company; nor shall the Executive be obligated to assign any Inventions which relate to or would be useful in any business or activities in which the Company is engaged if such Invention was
conceived and reduced by practice by the Executive prior to this Agreement with the Company, provided that all such Inventions are listed on “Exhibit B” attached hereto and made known to the Company. 

12. SUCCESSORS; BINDING AGREEMENT 
 This Agreement shall be binding upon, and inure to the benefit of, the Company, Executive, and their respective successors, assigns, personal and legal representatives, executors, administrators, heirs,
distributees, devisees, and legatees, as applicable. Without limiting the generality of the foregoing, the Company may assign this Agreement (or the same may remain with the Company as a subsidiary of a larger institution), without the consent of
Executive, with such assignee being required to perform the obligations of the Company hereunder, to any successor of the Company. 
 13. COMPLETE AGREEMENT 
 This Agreement sets forth the entire agreement
among the Company and Executive concerning the subject matter hereof, and supersedes all prior written or oral understandings of the parties. 

  
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 14. NOTICE 
 For purposes of this Agreement, notices and all other communications provided for in the Agreement shall be in writing and shall be deemed to have been duly given when (i) delivered personally;
(ii) sent by telecopy or similar electronic device and confirmed; (iii) delivered by overnight express; or (iv) sent by registered or certified mail, postage prepaid, addressed as follows: 

 

					
	 If to the Executive:
	 		  	 Frank J. Iannelli
 5101 River
Bluff Dr
 Ft Worth, Texas 76132

Attention: Frank Iannelli

			
	 If to FOSI:
	 		  	 Frontier Oilfield Services, Inc.

3030 LBJ Freeway, Suite 1320
 Dallas, Texas
75234
 Attention: Tim Burroughs, CEO


 Or to such other address as any party may have furnished to the other in writing in accordance herewith, except that
notices of change of address shall be effective only upon receipt. 
 15. MISCELLANEOUS 

No provision of this Agreement may be modified, waived, or discharged unless such waiver, modification, or discharge is agreed to in
writing, signed by the Executive and the Company. No waiver by either party hereto of or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions
or conditions at the same or at any prior or subsequent time. Either party hereof has made no agreements or representations, oral or otherwise, express or implied, with respect to the subject matter, which are not set forth expressly in this
Agreement. 
 16. GOVERNING LAW AND VENUE 
 This Agreement is being made and is intended to be performed in the State of Texas, and shall be governed, construed, interpreted, and enforced in accordance with the substantive laws of the State of
Texas and venue for any matter in connection with or arising from this Agreement shall be in Dallas County, Texas. 
 17.
ATTORNEY FEES 
 All legal fees and costs incurred in connection with the resolution of any dispute or controversy under or
in connection with this Agreement shall be borne by the non-prevailing party. 

  
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 18. COUNTERPARTS 

This Agreement may be executed in several counterparts, each of which shall be deemed to be an original, but all of which together will
constitute one and the same agreement. 
 19. VOLUNTARY AGREEMENT 

The parties acknowledge that each has had an opportunity to consult with an attorney or other counselor concerning the meaning, import,
and legal significance of this Agreement, and each has read this Agreement, as signified by their respective signatures hereto, and each is voluntarily executing the same after, if sought, advice of counsel for the purposes and consideration herein
expressed. 
 IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the date and year first above
written. 
  

	
	EXECUTIVE:
	
	 
	 Frank J. Iannelli

	
	COMPANY:
	
	FRONTIER OILFIELD SERVICES, INC.
	
	 By:

	
	 
	
	 Name:

	
	 
	
	 Title:

	
	 



  
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