Summary of Non-Employee Director Compensation for Whiting Petroleum Corporation (Effective June 1, 2008)
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Summary
This document outlines the compensation structure for non-employee directors of Whiting Petroleum Corporation, effective June 1, 2008. Non-employee directors receive an annual cash retainer, restricted stock awards with a three-year vesting period, and additional retainers and stock awards for serving as committee chairs or members. Directors also receive meeting fees for attending board and committee meetings. The compensation varies depending on the specific committee roles held by each director.
EX-10.9 2 exhibit10-9.htm SUMMARY OF NON-EMPLOYEE DIRECTOR COMPENSATION FOR WHITING PETROLEUM CORPORATION exhibit10-9.htm
Exhibit 10.9
Director Compensation
Effective June 1, 2008, non-employee director compensation is as follows:
| Committee Service | ||||||||||||||||
| Board Service | Audit | Compensation | Nominating and Governance | |||||||||||||
| Annual Retainer | $ | 42,000 | ||||||||||||||
| Restricted Stock (value), three year vesting | $ | 100,000 | ||||||||||||||
| Committee Chair Annual Retainer | $ | 25,000 | $ | 15,000 | $ | 15,000 | ||||||||||
| Committee Chair Restricted Stock (value) | $ | 25,000 | $ | 15,000 | $ | 15,000 | ||||||||||
| Committee Member Annual Retainer | $ | 5,000 | $ | 3,000 | $ | 3,000 | ||||||||||
| Meeting Fee | $ | 1,500 | $ | 1,500 | $ | 1,500 | $ | 1,500 | ||||||||
