UNIT CORPORATION STOCK APPRECIATION RIGHTS AWARD AGREEMENT PERSONAL AND CONFIDENTIALStock Appreciation Rights Award Agreement • December 15th, 2006 • Unit Corp • Crude petroleum & natural gas • Oklahoma
We are pleased to inform you that as an employee of Unit Corporation or one of its Affiliates, you have been granted an Award of Stock Appreciation Rights (also referred to as a "SARs") under the Unit Corporation Stock and Incentive Compensation Plan (the "Plan"). The SARs give you the opportunity to receive a lump sum cash payment at the time of exercise of the SARs, equal to the result of multiplying (a) the excess of the Fair Market Value of a Share on the date of exercise over the grant price by (b) the number of Shares with respect to which the SAR (or SARs) is exercised. This Award is subject to your acceptance of this Award as provided in Section 1 below and the terms and conditions that follow in this agreement.
UNIT CORPORATION RESTRICTED STOCK AWARD AGREEMENT PERSONAL AND CONFIDENTIALRestricted Stock Award Agreement • December 15th, 2006 • Unit Corp • Crude petroleum & natural gas • Oklahoma
We are pleased to inform you that as an employee of Unit Corporation or one of its Affiliates, you have been granted an Award of Shares of Restricted Stock under the Unit Corporation Stock and Incentive Compensation Plan (the "Plan"). Each Share of Restricted Stock under this Award is composed of one share of Unit Corporation's common stock, $0.20 par value per share. This Award is subject to your acceptance as provided in Section 1 below and the terms and conditions that follow in this agreement.
