EX-10.3




 Exhibit 10.3 

RESTRICTED STOCK AWARD AGREEMENT 

CONTINENTAL RESOURCES, INC. 

2022 LONG-TERM INCENTIVE PLAN 

DIRECTOR AGREEMENT 
 THIS
RESTRICTED STOCK AWARD AGREEMENT (the “Award Agreement”), is entered into as of [•] (the “Date of Grant”) by and between [•] (the “Participant”) and CONTINENTAL
RESOURCES, INC. (the “Company”): 
 WITNESSETH: 

WHEREAS, the Participant is a member of the board of directors (the “Board”) of the Company, and it is important to
the Company that the Participant be encouraged to remain in its service; and 
 WHEREAS, in recognition of such facts, the Company desires
to provide to the Participant an opportunity to acquire shares of the Common Stock of the Company, as hereinafter provided, pursuant to the Continental Resources, Inc. 2022 Long-Term Incentive Plan (the “Plan”), a copy of
which has been provided to the Participant; and 
 WHEREAS, any capitalized terms used but not defined herein have the same meanings given
them in the Plan. 
 NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and for good and valuable consideration,
the Participant and the Company hereby agree as follows: 
 Section 1. Grant of Award. The Company hereby
grants to the Participant effective as of the Date of Grant specified above, as a matter of separate inducement but not in lieu of any fees or other compensation for the Participant’s services for the Company, an award (the
“Award”) of [•] ([•]) shares of Common Stock (the “Restricted Shares”), under and subject to the terms and conditions of this Award Agreement and the Plan, which is incorporated herein by
reference and made a part hereof for all purposes. 
 Section 2. Stock Held by Company; Ownership of Restricted
Shares. The Company shall evidence the Restricted Shares in the manner that it deems appropriate. The Company may issue a certificate or certificates registered in the name of the Participant representing the total number of Restricted Shares
represented by the Award and retain that certificate or those certificates until the restrictions on the Restricted Shares expire or the Restricted Shares are forfeited as described in this Award Agreement. All Restricted Shares under the Award held
by the Company pursuant 











 
to this Award Agreement shall constitute issued and outstanding shares of Common Stock of the Company for all corporate purposes, and the Participant shall be entitled to all the rights of
absolute ownership of the Restricted Shares, including the right to vote those shares and the right to receive all cash dividends thereon (subject to vesting restrictions as described in Section 3) provided that the right
to receive such dividends shall terminate with respect to shares of Common Stock which are forfeited under this Award Agreement. If shares of Common Stock vest in the Participant in accordance with this Award Agreement, the Company shall, if
requested by the Participant, deliver to the Participant a certificate representing such vested shares of Common Stock. 

Section 3. Vesting of Award. If the Participant’s service as a member of the Board remains continuous at
all times prior to any of the vesting dates specified below (the “Vesting Dates”), the restrictions on a number of the Restricted Shares granted pursuant to this Award Agreement will expire and such Restricted Shares will
become transferable and nonforfeitable, on or after the applicable Vesting Date, on a cumulative basis, according to the table below: 
  

			
	 Number of Shares
	  	 Vesting Date

	[•]	  	[•]
	[•]	  	[•]

 Dividends, if any, that are payable with respect to the Restricted Shares under this Award Agreement shall be paid without
interest to the Participant on the date of vesting of the associated Restricted Shares, and then only with respect to the portion of such dividends as to which the Award was then vested, with the remaining portions of such dividends, if any, to be
paid without interest to the Participant on the date the associated Restricted Shares respectively become vested. If the Participant terminates service prior to the applicable Vesting Date for any reason, the Restricted Shares for which the
restrictions have not lapsed as of the date of termination (including any dividends payable thereon) shall be null and void and shall be forfeited to the Company, and neither the Participant nor any other person shall have any interest therein in
any manner whatsoever, unless Participant’s vesting in the Award is accelerated pursuant to Section 6. 

Section 4. Restrictions; Forfeiture. The Restricted Shares are restricted in that they may not be sold,
assigned, transferred, pledged or otherwise alienated or hypothecated in any way, shall not be assignable by operation of law and shall not be subject to execution, attachment or similar process. Any attempted assignment, transfer, pledge,
hypothecation or other disposition of the Restricted Shares contrary to the provisions hereof shall be null and void and without effect. The Restricted Shares are also restricted in the sense that they may be forfeited to the Company. The
Participant hereby agrees that if the Restricted Shares are forfeited, as provided in Section 3, the Company shall have the right to deliver the Restricted Shares to the Company’s transfer agent for, at the
Company’s election, cancellation or transfer to the Company. 

  
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 Section 5. Board Service. So long as the Participant shall
continue to be a continuous member of the Board, the Award shall not be affected by any change of duties or position. Nothing in the Plan or in this Award Agreement shall be construed as (i) giving Participant the right to continue as a
Participant or in the employ or service of the Company or any Affiliate, (ii) interfering in any way with the right of the Company or any Affiliate to terminate Participant’s employment or service relationship at any time,
(iii) giving Participant any claim to be granted any Award under the Plan or to be treated uniformly with other Participants and/or employees and/or other service providers or (iv) other than as associated with the rights of a holder of a
Restricted Stock Award, conferring on Participant any of the rights of a stockholder of the Company unless and until the Participant is duly issued or transferred shares of Stock in accordance with the terms of this Award. 

Section 6. Acceleration of Award Upon Change in Control. Upon the occurrence of a Change in Control, as
defined in the Plan, the Award shall become 100% vested and restrictions on all of the Restricted Shares granted pursuant to this Award will expire and such Restricted Shares will become transferable and nonforfeitable. 

Section 7. Delivery of Stock. Promptly following the expiration of the restrictions on the Restricted Shares
as contemplated in Section 3 or Section 6 of this Award Agreement, the Company shall cause to be issued and delivered to the Participant or the Participant’s designee a certificate or other
evidence of the number of Restricted Shares as to which restrictions have lapsed, free of any restrictive legend relating to the lapsed restrictions. The value of such Restricted Shares shall not bear any interest owing to the passage of time. 

Section 8. Securities Law Restrictions. Notwithstanding any provision of this Award Agreement to the
contrary, the Award shall be vested and Common Stock (including the Restricted Shares) issued only upon compliance with the Securities Act of 1933, as amended (the “Securities Act”), and any other applicable securities law,
or pursuant to an exemption therefrom, and with the requirements of any stock exchange or market system upon which the Common Stock may then be listed. No Common Stock will be issued hereunder if such issuance would constitute a violation of any
applicable federal, state or foreign securities laws or other law or regulations or the requirements of any stock exchange or market system upon which the Common Stock may then be listed. In addition, Common Stock will not be issued hereunder unless
(i) a registration statement under the Securities Act is at the time of issuance in effect with respect to the shares issued or (ii) in the opinion of legal counsel to the Company, the shares issued may be issued in accordance with the
terms of an applicable exemption from the registration requirements of the Securities Act. The inability of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal counsel to be
necessary to the lawful issuance and sale of any shares subject to the Award will relieve the Company of any liability in respect of the failure to issue such shares as to which such requisite authority has not


  
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been obtained. If deemed necessary by the Company to comply with the Securities Act or any applicable laws or regulations relating to the sale of securities, the Participant, at the time of any
issuance hereunder and as a condition imposed by the Company, shall take action to satisfy any qualifications that may be necessary or appropriate to evidence compliance with any applicable law or regulation and shall represent, warrant and agree
that the shares of Common Stock subject to the Award are being purchased for investment and not with any present intention to resell the same and without a view to distribution, and the Participant shall, upon the request of the Company, execute and
deliver to the Company an agreement to such effect. The Participant acknowledges that any stock certificate representing Common Stock purchased under such circumstances will be issued with a restricted securities legend. 

Section 9. Notices. All notices or other communications relating to the Plan and this Award Agreement shall
be in writing and shall be delivered personally or mailed (U.S. mail) and shall be deemed to be delivered (i) on the date on which actually received by the person to whom it is delivered personally, (ii) three (3) business days following
the date on which a properly addressed notice or communication is mailed via regular U.S. mail or (iii) on the date on which receipt is acknowledged if sent via certified U.S. mail. Any notice by the Company to the Participant shall be sent to
the Participant at the then current address as maintained by the Company or such other address as the Participant may advise the Company in writing. Any notice by the Participant to the Company shall be sent to the Secretary of the Company. Any
person entitled to notice hereunder may waive such notice in writing. 
 Section 10. Furnish Information.
The Participant agrees to furnish to the Company all information requested by the Company to enable it to comply with any reporting or other requirements imposed upon the Company by or under any applicable statute or regulation. 

Section 11. Remedies. The parties to this Award Agreement shall be entitled to recover from each other
reasonable attorneys’ fees incurred in connection with the successful enforcement of the terms and provisions of this Award Agreement, whether by action to enforce specific performance or for damages for its breach or otherwise. 

Section 12. No Liability for Good Faith Determinations. The Company and the members of the Board shall not be
liable for any act, omission or determination taken or made in good faith with respect to this Award Agreement or the Restricted Shares granted hereunder. 

Section 13. Execution of Receipts and Releases. Any payment of cash or any issuance or transfer of shares of
Common Stock or other property to the Participant, or to the Participant’s legal representative, heir, legatee or distributee, in accordance with the provisions hereof, shall, to the extent thereof, be in full satisfaction of all claims of such
persons hereunder. The Company may require the Participant or the Participant’s legal representative, heir, legatee or distributee, as a condition precedent to such payment or issuance, to execute a release and receipt therefor in such form as
it shall determine. 

  
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 Section 14. No Guarantee of Interests. The Board and the
Company do not guarantee the Common Stock of the Company from loss or depreciation. 
 Section 15. Information
Confidential. As partial consideration for the granting of the Award hereunder, the Participant hereby agrees to keep confidential all information and knowledge, except that which has been disclosed in any public filings required by law, that
the Participant has relating to the terms and conditions of this Award Agreement; provided, however, that such information may be disclosed as required by law and may be given in confidence to the Participant’s spouse and tax and
financial advisors. In the event any breach of this promise comes to the attention of the Company, it shall take into consideration that breach in determining whether to recommend the grant of any future similar award to the Participant. 

Section 16. Successors. This Award Agreement shall be binding upon the Participant, the Participant’s
legal representatives, heirs, legatees and distributees, and upon the Company, its successors and assigns. 

Section 17. Severability. If any provision of this Award Agreement is held to be illegal or invalid for any
reason, the illegality or invalidity shall not affect the remaining provisions hereof, but such provision shall be fully severable and this Award Agreement shall be construed and enforced as if the illegal or invalid provision had never been
included herein. 
 Section 18. Company Action. Any action required of the Company shall be by resolution
of the Board or Committee or by a person or entity properly authorized to act by resolution of the Board or Committee. 

Section 19. Headings. The titles and headings of sections are included for convenience of reference only and
are not to be considered in construction of the provisions hereof. 
 Section 20. Governing Law. All
questions arising with respect to the provisions of this Award Agreement shall be determined by application of the laws of Oklahoma, without giving any effect to any conflict of law provisions thereof, except to the extent Oklahoma state law is
preempted by federal law. The obligation of the Company to sell and deliver Common Stock hereunder is subject to applicable laws and to the approval of any governmental authority required in connection with the authorization, issuance, sale or
delivery of such Common Stock. 

  
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 Section 21. Consent to Jurisdiction and Venue. The
Participant hereby consents and agrees that state courts located in Oklahoma County, Oklahoma and the United States District Court for the Western District of Oklahoma each shall have personal jurisdiction and proper venue with respect to any
dispute between the Participant and the Company arising in connection with the Award or this Award Agreement. In any dispute with the Company, the Participant will not raise, and the Participant hereby expressly waives, any objection or defense to
any such jurisdiction as an inconvenient forum. 
 Section 22. Amendment. This Award Agreement may be
amended by the Board or by the Committee at any time (i) if the Board or the Committee determines, in its sole discretion, that amendment is necessary or advisable in light of any addition to or change in any federal or state, tax or securities
law or other law or regulation, which change occurs after the Date of Grant and by its terms applies to the Award, or (ii) other than in these circumstances described in subparagraph (i) or provided in the Plan, with the Participant’s
consent. 
 Section 23. Acknowledgements. The Participant acknowledges and agrees that (i) the
Participant is not relying upon any determination by the Company, its affiliates, or any of their respective employees, directors, officers, attorneys or agents (collectively, the “Company Parties”) of the Fair Market Value
of the Common Stock on the Date of Grant, (ii) the Participant is not relying upon any written or oral statement or representation of the Company Parties regarding the tax effects associated with the Participant’s execution of this Award
Agreement and the Participant’s receipt, holding and vesting of the Restricted Shares, and (iii) in deciding to enter into this Award Agreement, the Participant is relying on the Participant’s own judgment and the judgment of the
professionals of the Participant’s choice with whom the Participant has consulted. The Participant hereby releases, acquits and forever discharges the Company Parties from all actions, suits, debts, obligations, liabilities, claims, damages,
losses, costs and expenses of any nature whatsoever, known or unknown, on account of, arising out of, or in any way related to the tax effects associated with the Participant’s execution of this Award Agreement and the Participant’s
receipt or holding of the Restricted Shares. The Participant further understands and acknowledges that the Participant should consult with a tax advisor regarding the advisability of filing with the Internal Revenue Service an election under section
83(b) of the Code with respect to the Restricted Shares for which the restrictions have not lapsed. This election must be filed no later than thirty (30) days after the Date of Grant set forth in this Award Agreement. This time period cannot be
extended. The Participant acknowledges (a) that the Participant has been advised to consult with a tax advisor regarding the tax consequences of this award of the Restricted Shares and (b) that timely filing of a section 83(b) election is
the Participant’s sole responsibility, even if the Participant requests the Company or its representative to file such election on the Participant’s behalf. 

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the parties have executed this Award Agreement as of the Date of Grant.

  

			
	Continental Resources, Inc.,
	an Oklahoma corporation
		
	By:	 	 
		 	


  

	
	“Participant”



  
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