1
Exhibit 10.1
SANTA XXXXX REFINING COMPANY
X.X. Xxx 0000
Xxxxx Xxxxx, XX 00000
EMPLOYMENT AGREEMENT
1. NAME: Xxxx Xxxxxxx
2. NAME OF THE COMPANY: Santa Xxxxx Refining Company (SMRC)
3. LOCATION: Santa Maria, California
4. JOB TITLE: President
5. EFFECTIVE DATE: January 1, 1997
6. MAJOR AREAS OF RESPONSIBILITY:
MANAGEMENT OF
all Refinery operations including
o budgets, cash flow needs and projections
o regulatory compliance
o CUP achievement
o asphalt marketing
7. REPORTING TO: Xxxxx Xxxxxxxxx, Chairman of SMRC's
Board of Directors
8. COMPENSATION:
A. $110,000 per annum to be paid on a monthly basis. Compensation for
second year of the contract shall be $120,000 per annum
B. Standard medical and 401 (K) Plan benefits
C. Company vehicle for Company usage
D. Bonus at discretion of the management of SPC
E. The company shall indemnify against any claims while holding the
office
F. Options participation as per management program as approved by SPC
Board of Directors
9. TERMINATION NOTICE: 90 days severance upon termination
10. CONTRACT TERM: 2 years from January 1, 1997 to December 31, 998
/s/ XXXX XXXXXXX /s/ XXXXX XXXXXXXXX
-------------------- --------------------------
Xxxx Xxxxxxx Xxxxx Xxxxxxxxx - Director
Santa Xxxxx Refining Company
1-29-97 1-28-97
-------------------- ---------------------------
Date Date
