Summary of Non-Employee Director Compensation for Whiting Petroleum Corporation (Effective August 1, 2007)
Contract Categories:
Human Resources
›
Compensation Agreements
Summary
This document outlines the compensation structure for non-employee directors of Whiting Petroleum Corporation, effective August 1, 2007. It specifies annual retainers, restricted stock awards with three-year vesting, and additional compensation for committee chairs and members. Directors receive fees for attending meetings, with different rates for in-person and telephonic meetings based on duration. The agreement details the amounts paid for board and committee service, ensuring transparency in director compensation.
EX-10.1 2 exhibit10-1.htm SUMMARY OF NON-EMPLOYEE DIRECTOR COMPENSATION FOR WHITING PETROLEUM CORP. exhibit10-1.htm
Exhibit 10.1
Director Compensation
Effective August 1, 2007, non-employee director compensation is as follows:
| Committee Service | ||||||||||||||||
| Board Service | Audit | Compensation | Nominating and Governance | |||||||||||||
| Annual Retainer | $ | 42,000 | ||||||||||||||
| Restricted Stock, three year vesting | 2,150 shares | |||||||||||||||
| Committee Chair Annual Retainer | $ | 20,000 | $ | 15,000 | $ | 15,000 | ||||||||||
| Committee Chair Restricted Stock, three year vesting (shares) | 1,000 | 750 | 750 | |||||||||||||
| Committee Member Annual Retainer | $ | 5,000 | $ | 3,000 | $ | 3,000 | ||||||||||
| Meeting Fee, including telephonic meetings over one hour | $ | 1,500 | $ | 1,500 | $ | 1,500 | $ | 1,500 | ||||||||
| Telephonic meetings of one hour or less | $ | 750 | $ | 750 | $ | 750 | $ | 750 | ||||||||
