Frontier Oil Corporation Board of Directors' Compensation Effective April 14, 2005

by Frontier Oil
April 20th, 2005

EXHIBIT 10.1




Frontier Oil Corporation
Board of Directors’ Compensation
Effective April 14, 2005



Annual Board Retainer
$30,000
Board Meeting Fee
$ 1,500 per meeting attended
Committee Chair Annual Retainer
Audit/Compensation
$15,000
Committee Chair Annual Retainer
Other Committees
$ 5,000
Committee Meeting Fee
$ 1,500 per meeting attended
Annual Equity Grant (1)
$100,000

 
(1)  
The value of the Annual Equity Grant is expected to be determined by a compensation consultant to the Compensation Committee of the Board of Directors using a present value analysis. In addition, other terms of the awards will be determined at the time of grant.