Exhibit 10.24

 

HALCÓN RESOURCES CORPORATION

 

FIRST AMENDED AND RESTATED

SUMMARY OF NON-EMPLOYEE DIRECTOR COMPENSATION

Adopted February 25, 2015

 

Each non-employee member serving on the Board of Directors (each, a “Director,”
and collectively, the “Directors”) of Halcón Resources Corporation (the
“Company”) shall be paid compensation in the form of cash and stock, represented
in an annual amount, as set forth in the summary below:

 

 

 

Amount

 

Annual Retainer:

 

 

 

Cash(1) (2)

 

$

40,000

 

Stock(3)

 

$

135,000

 

Additional Annual Retainer:

 

 

 

Lead Director

 

$

50,000

 

Additional Annual Retainers — Chair:

 

 

 

Audit Committee Chair

 

$

25,000

 

Compensation Committee Chair

 

$

15,000

 

Nominating and Corporate Governance Committee Chair

 

$

12,500

 

Reserves Committee Chair

 

$

12,500

 

Additional Annual Retainers — Committee Member:

 

 

 

Audit Committee Member

 

$

7,500

 

Compensation Committee Member

 

$

5,000

 

Nominating and Corporate Governance Committee Member

 

$

5,000

 

Reserves Committee Member

 

$

5,000

 

 

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(1)  Payable in quarterly installments and pro-rated for partial year terms.

(2)  Any cash compensation to be received by a Director may, at such Director’s
written election, be paid in the Company’s common stock based on the closing
market price of the stock on the last trading day of the calendar quarter during
which such Director is entitled to receive the cash compensation.  A Director’s
written election to be paid any or all fees in Company stock, rather than in
cash, must be delivered to the Company prior to the beginning of the quarter in
which he desires to be paid in Company stock and such election shall be
irrevocable during that quarter.

(3)  Granted under the Halcón Resources Corporation 2012 Long-Term Incentive
Plan; valued at the date of grant, which date shall occur contemporaneously with
the annual meeting of shareholders.

 

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