Second Amendment to Production Participation Plan of Whiting Petroleum
Second Amendment (this Amendment) to the Production Participation Plan
(as amended and restated February 23, 2006, (the Plan) of Whiting
Petroleum Corporation, a Delaware corporation (the Company), is adopted
by the Company by action of its Board of Directors on October 23, 2007 and executed to be
effective as of such date. Capitalized terms used herein without definition shall have the
meaning ascribed to such terms in the Plan.
of the Plan is hereby amended by replacing the phrase thirty-five
percent (35%) each place it appears therein with thirty
last sentence of Section 5.4(c) is amended by replacing age 65 with
last sentence of Section 7.2(a) is amended by replacing five (5)
years with three (3) years.
and Effect. Except as amended by this Amendment, the terms and
conditions of the Plan shall remain in full force and effect.