0000950123-10-051316 Sample Contracts

EMPLOYMENT AGREEMENT
Employment Agreement • May 19th, 2010 • Oasis Petroleum Inc. • Crude petroleum & natural gas • Texas

This Employment Agreement (this “Agreement”) is made by and between Oasis Petroleum Inc., a Delaware corporation (the “Company”), and Taylor L. Reid (“Employee”) effective as of , 2010 (the “Effective Date”).

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OASIS PETROLEUM INC. 2010 LONG TERM INCENTIVE PLAN FORM OF RESTRICTED STOCK AGREEMENT
Restricted Stock Agreement • May 19th, 2010 • Oasis Petroleum Inc. • Crude petroleum & natural gas • Texas

This Agreement is made and entered into as of the Date of Grant set forth in the Notice of Grant of Restricted Stock (“Notice of Grant”) by and between Oasis Petroleum Inc., a Delaware corporation (the “Company”), and you;

To Be Placed on Oasis Petroleum Inc. Letterhead] NOTICE OF GRANT OF RESTRICTED STOCK
Form Agreement • May 19th, 2010 • Oasis Petroleum Inc. • Crude petroleum & natural gas

Pursuant to the terms and conditions of the Oasis Petroleum Inc. 2010 Long Term Incentive Plan, attached as Appendix A (the “Plan”), and the associated Restricted Stock Agreement, attached as Appendix B (the “Agreement”), you are hereby issued shares of Stock subject to certain restrictions thereon and under the conditions set forth below, in the Agreement, and in the Plan (the “Restricted Shares”). Capitalized terms used but not defined herein shall have the meanings set forth in the Plan.

To Be Placed on Oasis Petroleum Inc. Letterhead] NOTICE OF GRANT OF RESTRICTED STOCK UNIT
Form Agreement • May 19th, 2010 • Oasis Petroleum Inc. • Crude petroleum & natural gas

Pursuant to the terms and conditions of the Oasis Petroleum Inc. 2010 Long Term Incentive Plan, attached as Appendix A (the “Plan”), and the associated Restricted Stock Unit Agreement, attached as Appendix B or which has previously been provided to you (the “Agreement”), you are hereby granted an award of the number of Restricted Stock Units set forth below, whereby each Restricted Stock Unit represents the right to receive one share of common stock of the Company, par value $0.001 per share (“Stock”), or a cash payment equal to the Fair Market Value on the applicable Date of Settlement set forth below of one share of Stock, as determined by the Committee in its sole and absolute discretion, plus rights to certain Dividend Equivalents described in Section 3 of the Agreement, under the terms and conditions set forth below, in the Agreement, and in the Plan (the “Restricted Stock Units”). Capitalized terms used but not defined herein shall have the meanings set forth in the Plan.

FORM OF INDEMNIFICATION AGREEMENT
Form of Indemnification Agreement • May 19th, 2010 • Oasis Petroleum Inc. • Crude petroleum & natural gas • Delaware

INDEMNIFICATION AGREEMENT (this “Agreement”), made and executed as of , 2010, by and between Oasis Petroleum Inc., a Delaware corporation (the “Company”) and , an individual resident of the State of (the “Indemnitee”).

SERVICES AGREEMENT
Services Agreement • May 19th, 2010 • Oasis Petroleum Inc. • Crude petroleum & natural gas • Texas

This Services Agreement (this “Agreement”) is entered into on [ ], 2010, by and between Oasis Petroleum Inc., a Delaware corporation (“OAS”), and Oasis Petroleum Management LLC, a Delaware limited liability company (“Oasis Management”).

SERVICES AGREEMENT
Services Agreement • May 19th, 2010 • Oasis Petroleum Inc. • Crude petroleum & natural gas • Texas

This Services Agreement (this “Agreement”) is entered into on [ ], 2010, by and between Oasis Petroleum Inc., a Delaware corporation (“OAS”), and OAS Holding Company LLC, a Delaware limited liability company (“Oasis Holding”).

OASIS PETROLEUM INC. 2010 LONG TERM INCENTIVE PLAN FORM OF RESTRICTED STOCK UNIT AGREEMENT
Form of Restricted Stock Unit Agreement • May 19th, 2010 • Oasis Petroleum Inc. • Crude petroleum & natural gas • Texas

This Agreement is made and entered into as of the Date of Grant set forth in the Notice of Grant of Restricted Stock Unit (“Notice of Grant”) by and between Oasis Petroleum Inc., a Delaware corporation (the “Company”), and you.

To Be Placed on Oasis Petroleum Inc. Letterhead] NOTICE OF GRANT OF RESTRICTED STOCK UNIT DESIGNATED AS A PERFORMANCE SHARE UNIT
Form Agreement • May 19th, 2010 • Oasis Petroleum Inc. • Crude petroleum & natural gas

Pursuant to the terms and conditions of the Oasis Petroleum Inc. 2010 Long Term Incentive Plan, attached as Appendix A (the “Plan”), and the associated Restricted Stock Unit Agreement, attached as Appendix B or which has previously been provided to you (the “Agreement”), you are hereby granted an award of the number of Restricted Stock Units designated as Performance Share Units set forth below, whereby each Restricted Stock Unit represents the right to receive one share of common stock of the Company, par value $0.001 per share (“Stock”), or a cash payment equal to the Fair Market Value on the applicable Date of Settlement set forth below of one share of Stock, as determined by the Committee in its sole and absolute discretion, plus rights to certain Dividend Equivalents described in Section 3 of the Agreement, under the terms and conditions set forth below, in the Agreement, and in the Plan (the “Performance Share Units”). Capitalized terms used but not defined herein shall have the

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