NOG enters into new employment agreements with five executives; discloses 2023 comp plan

NORTHERN OIL & GAS, INC.

Agreements with CEO Nicholas O'Grady (base salary $850k), Adam Dirlam, Chad Allen, James Evans, and Erik Romslo; 5-year initial term with auto-renewal.
CIC severance: 2x base salary + COBRA + immediate vesting of time-vested equity; non-CIC severance: similar with pro-rata equity vesting.
2023 short-term incentive: cash bonus weighted equally on Adjusted EBITDA, ROCE, and individual performance.
Long-term incentives: service-based RSUs and performance awards tied to absolute/relative TSR (3yr) and compound equity growth (5yr).

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