Summary of Non-Employee Director Compensation for Whiting Petroleum Corporation (Effective February 1, 2006)

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation plan for non-employee directors of Whiting Petroleum Corporation, effective February 1, 2006. It details annual retainers, restricted stock awards, and meeting fees for board and committee service, including specific amounts for committee chairs and members. Non-employee directors are also eligible for health insurance coverage. The agreement specifies that restricted stock vests over three years and provides different compensation levels for various committee roles and meeting types.

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EX-10.2 4 dbk109d.htm SUMMARY OF NON-EMPLOYEE DIRECTOR COMPENSATION WHITING PETROLEUM CORPORATION
SUMMARY OF NON-EMPLOYEE DIRECTOR COMPENSATION

Effective February 1, 2006
Committee Service
Board Service
 Audit
 Compensation
 Nominating
and Governance
Annual Retainer     $36,000              
Restricted Stock, vesting over three years    1,800 shares              
Committee Chair Annual Retainer       $20,000   $15,000   $15,000  
Committee Chair Restricted Stock, vesting                  
  over three years            1,000          750          750  
Committee Member Annual Retainer       $  5,000   $  3,000   $  3,000  
Meeting fee, including telephonic meetings of                  
   over one hour   $  1,500   $  1,500   $  1,500   $  1,500  
Telephonic meetings of one hour or less   $     750   $     750   $     750   $     750  

Non-employee directors are also eligible to receive health insurance coverage from Whiting Petroleum Corporation.