ex10-62.htm


    Exhibit 10.62

    
      
        

      



    Summary of Compensation for
Executive Officers

    


    The executive officers of Frontier Oil
Corporation (“Frontier”) are “at will” employees, and none of them has an
employment agreement.  The unwritten arrangements under which
Frontier’s executive officers are compensated include:

    


    
      	
               
      ·

            	
              a
      salary, reviewed annually by the Compensation Committee of the Board of
      Directors of Frontier;

            


    

    


    
      	
               
      ·

            	
              eligibility
      for an annual cash bonus, as determined by the Compensation
      Committee;

            


    

    


    
      	
               
      ·

            	
              eligibility
      for awards under Frontier’s Omnibus Incentive Compensation Plan, as
      determined by the Compensation
Committee;

            


    

    


    
      	
               
      ·

            	
              health,
      life, disability, death and other insurance and/or
    benefits;

            


    

    


    
      	
               
      ·

            	
              defined
      contribution pension and savings plan;
and

            


    

    


    
      	
               
      ·

            	
              vacation,
      paid sick leave and all other employee
benefits.

            


    

    


    In
addition, each of the executive officers of Frontier have entered into an
Executive Change in Control Severance Agreement and an Executive Severance
Agreement.

    


    The table below sets forth the base
salaries, effective as of January 1, 2010, for the executive officers of
Frontier who held office as of January 1, 2010, as well as, their incentive
target for 2010 (as a percentage of base salary).

    


    
      	
               

               

              Executive
      Officer

            	
               

              2010
      Annual Base Salary

            	
              Incentive
      Target for 2010

              (Percentage
      for Base Salary)

            
	
               James
      R. Gibbs

               Chairman
      of the Board

               

            	
               

              $975,000

            	
               

              100%

            
	
               Michael
      C. Jennings

               Chief
      Executive Officer and President

               

            	
               

              $775,000

            	
               

              100%

            
	
               Douglas
      S. Aron

               Executive
      Vice President-Chief Financial Officer

               

            	
               

              $380,000

            	
               

              60%

            
	
               Jon
      D. Galvin

               Vice
      President

               

            	
               

              $305,000

            	
               

              50%

            
	
               Nancy
      J. Zupan

               Vice
      President-Chief Accounting Officer

               

            	
               

              $325,000

            	
               

              50%

            
	
               J.
      Currie Bechtol

               Vice
      President-General Counsel & Secretary

            	
               

              $342,000

            	
               

              50%