Document:

Addendum No.2

 Exhibit 10.17 
  
 ADDENDUM NO. 2 TO THE 
  
 AMENDED & RESTATED 
  
 100% QUOTA SHARE REINSURANCE CONTRACT 
  
 BETWEEN 
  
 AFFIRMATIVE INSURANCE COMPANY and 
 INSURA PROPERTY AND CASUALTY INSURANCE
COMPANY 
  
 AND 
  
 VESTA FIRE INSURANCE CORPORATION 
 (“Reinsurer”) 
  
 It is hereby agreed to by the parties that the following amendment (the “Amendment”) is made to the above-noted agreement (the “Agreement”), to become
effective upon the consummation of an initial public offering of securities of Affirmative Holdings, Inc. registered under the Securities Act of 1933, as amended, which is anticipated to take place on or about June 30, 2004 (the “Effective
Date”). 
  
 WHEREAS, Article XIV of the Agreement
provides a Reserves Funding Clause that omits any right of Affirmative Insurance Company (“Affirmative”) and/or Insura Property and Casualty Insurance Company (“Insura”) to require the Reinsurer to secure its obligations under
the Agreement; and 
  
 WHEREAS, the parties agree that such
a right was omitted due to the fact that Affirmative, Insura and the Reinsurer have historically been under 100% common ownership and control; and 
  
 WHEREAS, Affirmative and Insura are now directly owned by Affirmative Insurance Holdings, Inc. (“Affirmative Holdings”), which has
registered a proposed initial public offering of its common stock with the Securities and Exchange Commission on Form S-1 (the “IPO”); and 
  
 WHEREAS, upon information and advice received from the underwriters of the proposed IPO, Affirmative, Insura and the Reinsurer believe that
amending the Agreement to include a Reserves Funding Clause that is customarily used in the reinsurance markets between non-affiliates will substantially aid and assist the successful completion of the proposed IPO; and 
  
 WHEREAS, the Reinsurer, as a selling stockholder of Affirmative
Holding’s common stock in the proposed IPO, will receive significant financial benefit from a successful consummation of the proposed IPO, and is willing to amend the Agreement as set forth herein upon consummation of the IPO in consideration
of such financial benefit. 

 NOW, THEREFORE, for good and valuable consideration that will inure to the benefit of Affirmative,
Insura and the Reinsurer upon the consummation of the proposed IPO, the adequacy and sufficiency of which is hereby acknowledged, the parties hereby amend the Agreement as follows: 
  
 1. ARTICLE XIV – RESERVES FUNDING CLAUSE – is hereby amended to delete sub-paragraph B in its entirety and replace it with a new
sub-paragraph B which reads as follows: 
  

	 	B.	At any time subsequent to the Effective Date of this Agreement, in the event that the Reinsurer: 

  

	 	1.	is assigned an A.M. Best’s insurance financial strength rating below “B+” or, if rated by Standard & Poor’s (“S&P”), an S&P insurance
financial strength rating below “BBB+” (an S&P Insurance Solvency International rating of less than “BBB” shall apply as respects an alien Reinsurer other than Underwriting Members of Lloyd’s, London, and an
S&P’s Lloyd’s Syndicate Stability rating of less than two bells will apply as respects Underwriting Members of Lloyd’s London); OR 

  

	 	2.	has suffered a loss of more than 25% (twenty-five percent) of its policyholder surplus as measured against Reinsurer’s surplus on the Effective Date of this Agreement or from
the date of the filing of the Reinsurer’s most recent financial statement with the authorities having jurisdiction over the Reinsurer; 

  
 Affirmative and/or Insura may require that the Reinsurer provide a letter of credit or establish a trust agreement at the Reinsurer’s own expense, to
collateralize the sum of the following under this Agreement (hereinafter the “Reinsurer’s Collateral”), as reported by Affirmative and/or Insura to Reinsurer: 
  
 a. the amount of loss and loss expense paid by Affirmative and/or Insura but not recovered from the Reinsurer; 

 
 b. reserves for loss and loss expense reported and outstanding;

  
 c. reserves for loss and loss expense incurred but not
reported; and 
  
 d. if applicable, unearned premium, and

  
 e. contingent commissions payable. 
  
 If the Reinsurer does not agree with the report of the Reinsurer’s
Collateral as furnished by Affirmative and/or Insura, a mutually agreed upon independent nationally recognized actuarial firm shall be engaged to evaluate the Reinsurer’s Collateral and such evaluation shall be binding upon the parties hereof.
Such cost shall be shared equally between Affirmative and/or Insura and the Reinsurer. If the parties fail to agree on the selection of an independent nationally recognized actuarial firm, Affirmative and/or Insura shall jointly name two, and
Reinsurer shall do the same, of whom the other shall decline one, and the final decision shall be made by drawing lots. As respects the terms of this paragraph, any actuarial firm selected by drawing lots shall be disinterested in the outcome of the
calculation and the employee of same engaged to evaluate the Reinsurer’s Collateral hereunder shall not be under the influence of either party hereto and shall be an Associate or Fellow of the Casualty Actuarial Society. It is agreed by the
parties hereto that the Arbitration Article of this Agreement shall not apply to the resolution of disputes arising under the terms of this paragraph. The evaluation by the independent national actuarial firm shall be binding on Affirmative and/or
Insura and the Reinsurer. 
  

 2 

 If it is agreed by the parties or established by evaluation by an appointed actuarial firm that either
(B)(1) or (2) of this Article XIV applies, then Affirmative and/or Insura may require that Reinsurer enter into a trust agreement or secure a letter of credit in favor of Affirmative and/or Insura. If a trust agreement is the chosen method of
collaterization, it must be with a member bank of the United States Federal Reserve System pursuant to which there will be established a trust account for the benefit of Affirmative and/or Insura. The trust agreement will contain such provisions as
may be agreed upon by Affirmative and/or Insura, the Reinsurer and the trustee under the trust agreement. The funding of the trust agreement and or the amount of the letter(s) of credit shall equal but not exceed the amount of the Reinsurer’s
Collateral, as reported by Affirmative and/or Insura and agreed to by the parties or as established by actuarial evaluation. 
  
 The trust agreement or letter(s) of credit shall be established by the Reinsurer within thirty (30) calendar days of receipt by the Reinsurer of
Affirmative and/or Insura’s written notice requesting the establishment of such Reinsurer’s Collateral. The notice shall be sent to the Reinsurer, via certified mail or nationally recognized overnight courier service. Should Affirmative
and/or Insura elect to require the Reinsurer to provide a letter(s) of credit, it is understood that such letter(s) of credit shall be clean, evergreen and irrevocable and issued by a bank which is acceptable to the insurance regulatory authority of
the jurisdiction involved. If a trust agreement is established, the Reinsurer shall select the trustee bank with the consent of Affirmative and/or Insura, with such consent not to be unreasonably withheld. 
  
 Within sixty (60) calendar days following the close of each calendar
quarter, Affirmative and/or Insura will prepare and forward to the Reinsurer a statement to reflect the Reinsurer’s share of reserves. If the statement shows that the Reinsurer’s share of such reserves exceeds the balance available through
the chosen method of funding as of the statement date, then the Reinsurer will, within thirty (30) calendar days after receipt of the statement, make an adjustment to increase the amount available. If, however, the statement shows that the
Reinsurer’s share of such reserves is less than the balance available through the chosen method of funding as of the statement date, then Affirmative and/or Insura will, within thirty (30) calendar days after the receipt of written request from
the Reinsurer, release such excess by making the appropriate adjustment. 
  
 If, at any time, the Reinsurer cures the circumstance(s) that obligated it to establish the trust or the letter of credit, whether by obtaining the appropriate A.M. Best or S&P rating or whether by improving its
surplus to at least 75% (seventy-five percent) of its surplus on the Effective Date, Affirmative and/or Insura and Reinsurer acknowledge and agree that the trust agreement or letter(s) of credit, whichever funding method was chosen, shall terminate
and the funds secured thereunder shall be returned to Reinsurer. If the circumstances identified in sub-paragraph (B) (1) or (2) of this Article XIV occur again, the Reinsurer’s obligation to establish a trust agreement or provide a letter(s)
of credit shall continue. 
  
 The Reinsurer shall bear all costs
associated with establishing and maintaining the trust agreement or letter(s) of credit as described in this Article. 
  

 3 

 Nothing in this Amendment should be construed to allow Affirmative to act to recover or secure any
balances owed to Insura or that Insura may act to recover or secure any balances owed to Affirmative. 
  
 The failure of Affirmative and/or Insura to enforce any provision of this Article shall not constitute a waiver by Affirmative and/or Insura of any such
provision, irrespective of how long such failure continues. The past waiver of any provision of this Article, by Affirmative and/or Insura, shall not constitute a course of conduct or a waiver of Affirmative and/or Insura’s rights in the future
with respect to that same provision. 
  
 IN WITNESS WHEREOF, EACH of the parties
hereto has caused this Amendment to be executed by its duly authorized representative as of the dates below, to become effective as of the Effective Date first defined above: 
  
 This 10th day of May, 2004. 
  

	
	 /s/ STEPHEN RUSSELL

	AFFIRMATIVE INSURANCE COMPANY and
	 INSURA PROPERTY AND CASUALTY
 INSURANCE
COMPANY

	
	This 10th day of May, 2004.
	
	 /s/ ARTHUR J. GONZALES

	VESTA FIRE INSURANCE CORPORATION

  

 4Form of New 7-1/4% Senior Subordinated Notes due 2012

 Exhibit 4.2 
  

GLOBAL NOTE 
  
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK,
NEW YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY
PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC) ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
  
 TRANSFERS OF
THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE
WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 

 WHITING PETROLEUM CORPORATION 
  

			
	 No. R-1
	 	$                    

  
 CUSIP No. U9650F AA 5

 ISIN No. USU9650FAA58 
  
 71⁄4% Senior Subordinated Note due 2012 
  
 Whiting Petroleum Corporation, a Delaware corporation, promises to pay to Cede & Co., or registered assigns, the principal sum of
                     Dollars on May 1, 2012 or such greater or lesser amount as may be indicated on Schedule A hereto. 
  
 Interest Payment Dates: May 1 and November 1. 
  
 Record Dates: April 15 and October 15. 
  
 Additional provisions of this Note are set forth on the other side of this
Note. 
  

			
	WHITING PETROLEUM CORPORATION
		
	By:	 	  

	Name:	 	 
	Title:	 	 

  

	
	 TRUSTEE’S CERTIFICATE OF

	 AUTHENTICATION

	
	 J.P. MORGAN TRUST COMPANY,

	 NATIONAL ASSOCIATION,

	
	 as Trustee, certifies that

	 this is one of the Notes

	 referred to in the Indenture.

  

			
	 
	 By
	 	  

	 	 	Authorized Signatory

  
 Dated: 
  

 2 

 REVERSE SIDE OF GLOBAL NOTE 
  
 7 1/4% Senior Subordinated Note due 2012 
  
 Capitalized terms used herein but not defined shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 
  

1. Interest. Whiting Petroleum Corporation, a Delaware corporation (the “Company”), promises to pay interest on the principal amount
of this Note at 7 1/4% per annum from May 11, 2004 until maturity. The Company will pay interest semi-annually in
arrears on May 1 and November 1 of each year, commencing November 1, 2004, or if any such day is not a Business Day, on the next succeeding Business Day (each an “Interest Payment Date”). Interest on the Notes will accrue from the most
recent date to which interest has been paid or, if no interest has been paid, from the date of original issuance; provided that if there is no existing Default or Event of Default in the payment of interest, and if this Note is authenticated between
a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in the case of the original issuance of Notes, in which case interest shall
accrue from the date of authentication. The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a rate that is the rate
then in effect; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the same rate to
the extent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months. 
  
 2. Method of Payment. The Company will pay interest on the Notes (except defaulted interest) to the Persons who are registered Holders of Notes at
the close of business on the April 15 or October 15 next preceding the Interest Payment Date, even if such Notes are cancelled after such record date and on or before such Interest Payment Date, except as provided in Section 2.11 of the Indenture
with respect to defaulted interest. Holders must surrender Notes to the Paying Agent to collect payments of principal and premium, if any, together with accrued and unpaid interest due at maturity. The Notes will be payable as to principal, premium,
if any, and interest at the office or agency of the Company maintained for such purpose within the City and State of New York, or, at the option of the Company, payment of interest may be made by check mailed to the Holders at their addresses set
forth in the register of Holders, and provided that payment by wire transfer of immediately available funds will be required with respect to any amounts due on all Global Notes and all other Notes the Holders of which shall have provided wire
transfer instructions to the Company or the Paying Agent. Such payment shall be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 
  
 3. Paying Agent and Registrar. Initially, J.P. Morgan Trust Company,
National Association, the Trustee under the Indenture, will act as Paying Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such capacity.

  
 4. Indenture. The Company issued the Notes under an
Indenture dated as of May 11, 2004 (“Indenture”) among the Company, the Guarantors and the Trustee. The terms of 
  

 3 

 the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture
Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb). The Notes are subject to all such terms, and Holders are referred to the Indenture and such Act for a statement of such terms. The Notes are unsecured senior subordinated obligations
of the Company limited to $150,000,000 aggregate principal amount in the case of Notes issued on the Initial Issuance Date (as defined in the Indenture). 
  
 5. Optional Redemption. 
  
 (a) Except as set forth in subparagraph (b) of this Paragraph 5, the Company shall not have the option to redeem the Notes prior to May 1, 2008.
Thereafter, the Company shall have the option to redeem the Notes, in whole or in part, upon prior notice as set forth in Paragraph 8, at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid
interest to the applicable redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on an Interest Payment Date that is on or prior to the redemption date), if redeemed during the twelve-month
period beginning on May 1 of the years indicated below: 
  

				
	 YEAR

	  	PERCENTAGE

	 
	 2008
	  	103.6250	%
	 2009
	  	101.8125	%
	 2010 and thereafter
	  	100.0000	%

  
 (b) Notwithstanding
the provisions of subparagraph (a) of this Paragraph 5, at any time on or prior to May 1, 2007, the Company may on any one or more occasions redeem up to 35% of the aggregate principal amount of Notes (including any Additional Notes) issued under
the Indenture at a redemption price of 107.25% of the principal amount thereof, plus accrued and unpaid interest thereon to the redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on an
Interest Payment Date that is on or prior to the redemption date), with the net cash proceeds of one or more Equity Offerings by the Company; provided that (i) at least 65% of the aggregate principal amount of Notes (including any Additional Notes)
issued under the Indenture remains outstanding immediately after the occurrence of each such redemption and (ii) each such redemption occurs within 120 days of the date of the closing of each such Equity Offering. 
  
 6. Mandatory Redemption. 
  
 Except as set forth in paragraph 7 below, the Company shall not be required
to make mandatory redemption or sinking fund payments with respect to the Notes or to repurchase the Notes at the option of the Holders. 
  

 4 

 7. Repurchase at Option of Holder. 
  
 (a) Within 30 days following the occurrence of a Change of Control, the Company shall make an offer (a “Change of
Control Offer”) to repurchase all or any part (equal to $1,000 or an integral multiple thereof) of each Holder’s Notes at a purchase price equal to 101% of the aggregate principal amount of Notes repurchased, plus accrued and unpaid
interest to the date of settlement (the “Change of Control Settlement Date”), subject to the right of Holders of record on the relevant record date to receive interest due on an Interest Payment Date that is on or prior to the Change of
Control Settlement Date. Within 30 days following a Change of Control, the Company shall mail a notice of the Change of Control Offer to each Holder and the Trustee describing the transaction that constitutes the Change of Control and setting forth
the procedures governing the Change of Control Offer as required by Section 4.15 of the Indenture. 
  
 (b) On the 361st day after an Asset Sale, if the aggregate amount of Excess Proceeds then exceeds $20.0 million, the Company shall commence an offer to
all Holders of Notes (an “Asset Sale Offer”) pursuant to Section 3.09 of the Indenture, and to all holders of any Pari Passu Indebtedness then outstanding, to purchase the maximum principal amount of Notes and such Pari Passu Indebtedness
that may be purchased out of the Excess Proceeds, at an offer price in cash in an amount equal to 100% of the principal amount of the Notes plus accrued and unpaid interest thereon to the date of settlement, subject to the right of Holders of record
on the relevant record date to receive interest due on an Interest Payment Date that is on or prior to the Change of Control Settlement Date, in accordance with the procedures set forth in the Indenture. If any Excess Proceeds remain after
consummation of an Asset Sale Offer, the Company may use such remaining Excess Proceeds for any purpose not otherwise prohibited by the Indenture. If the aggregate principal amount of Notes surrendered by Holders thereof and Pari Passu Indebtedness
surrendered by holders or lenders, collectively, exceeds the amount of Excess Proceeds, the Trustee shall select the Notes and Pari Passu Indebtedness to be purchased on a pro rata basis (with such adjustments as may be deemed appropriate by the
Trustee so that only Notes in denominations of $1,000, or integral multiples thereof, shall be purchased) on the basis of the aggregate principal amount of tendered Notes and Pari Passu Indebtedness. Holders of Notes that are the subject of an offer
to purchase will receive an Asset Sale Offer from the Company prior to any related purchase date and may elect to have such Notes purchased by completing the form entitled “Option of Holder to Elect Purchase” on the reverse of the Notes.

  
 8. Notice of Redemption. Notice of redemption will be
mailed at least 30 days but not more than 60 days (except as otherwise provided in the Indenture if the notice is issued in connection with a Legal Defeasance) before the redemption date to each Holder whose Notes are to be redeemed at its
registered address. Notes in denominations larger than $1,000 may be redeemed in part but only in whole multiples of $1,000, unless all of the Notes held by a Holder are to be redeemed. On and after the redemption date interest ceases to accrue on
Notes or portions thereof called for redemption. 
  
 9.
Denominations, Transfer, Exchange. The Notes are in registered form without coupons in denominations of $1,000 and integral multiples of $1,000. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture.
The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents, and the Company may require a Holder to pay any taxes due on transfer or exchange. The Company need not exchange or
register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part. Also, it need not exchange or register the transfer of any Notes for a period of 15 days before a
selection of Notes to be redeemed. 
  

 5 

 10. Persons Deemed Owners. The registered Holder of a Note may be treated as its owner for all
purposes. 
  
 11. Amendment, Supplement and Waiver. Subject
to certain exceptions, the Indenture or the Notes may be amended or supplemented with the consent of the Holders of at least a majority in principal amount of the then outstanding Notes, and any existing default or compliance with any provision of
the Indenture or the Notes may be waived with the consent of the Holders of a majority in principal amount of the then outstanding Notes. Without the consent of any Holder of a Note, the Indenture or the Notes may be amended or supplemented to cure
any ambiguity, defect or inconsistency, to provide for uncertificated Notes in addition to or in place of certificated Notes, to provide for the assumption of the Company’s obligations to Holders of the Notes pursuant to Article 5 of the
Indenture, to make any change that would provide any additional rights or benefits to the Holders of the Notes or that does not adversely affect the legal rights under the Indenture of any such Holder, provided that any change to conform the
Indenture to the Offering Memorandum shall not be deemed to adversely affect the legal rights under the Indenture of any Holder, to secure the Notes or the Subsidiary Guarantees pursuant to Section 4.12 of the Indenture or otherwise, to provide for
the issuance of Additional Notes in accordance with the limitations set forth in the Indenture, to add any additional Guarantor with respect to the Notes or to evidence the release of any Guarantor from its Subsidiary Guarantee, in each case as
provided in the Indenture, to comply with the requirements of the SEC in order to effect or maintain the qualification of the Indenture under the Trust Indenture Act or to evidence or provide for the acceptance of appointment under the Indenture of
a successor Trustee. 
  
 12. Defaults and Remedies. Events
of Default include: (i) default for 30 days in the payment when due of interest on the Notes; (ii) default in payment when due of the principal of or premium, if any, on the Notes when due at Stated Maturity, upon optional redemption, upon required
repurchase, upon declaration or otherwise; (iii) failure by the Company to comply with Section 4.07, 4.09, 4.10, 4.15 or 5.01 of the Indenture; (iv) failure by the Company for 60 days after notice to comply with any of its other agreements in the
Indenture or the Notes; (v) default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company or any of its Restricted Subsidiaries
(or the payment of which is guaranteed by the Company or any of its Restricted Subsidiaries), whether such Indebtedness or guarantee now exists or is created after the Initial Issuance Date, if such default (a) is caused by a failure to pay
principal of, or premium or interest, if any, on such Indebtedness prior to the expiration of any grace period provided in such Indebtedness (a “Payment Default”) or (b) results in the acceleration of such Indebtedness prior to its Stated
Maturity and, in each case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which has been so accelerated, aggregates in
excess of $15.0 million; (vi) failure by the Company or any of its Subsidiaries to pay final judgments aggregating in excess of $15.0 million, which judgments are not paid, discharged or stayed (including a stay pending appeal) for a period of 60
days after the date of such final judgment (or, if later, the date when payment is due pursuant to such judgment); (vii) except as permitted by the Indenture, any 
  

 6 

 Subsidiary Guarantee is held in any judicial proceeding to be unenforceable or invalid or ceases for any reason to be in
full force and effect or any Guarantor, or any Person acting on behalf of any Guarantor, denies or disaffirms its obligations under its Subsidiary Guarantee; and (viii) certain events of bankruptcy, insolvency or reorganization with respect to the
Company, any Significant Subsidiary or any group of Subsidiaries that, taken together, would constitute a Significant Subsidiary as specified in Section 6.01(h) or 6.01(i) of the Indenture. If any Event of Default occurs and is continuing, the
Trustee, by notice to the Company, or the Holders of at least 25% in principal amount of the then outstanding Notes, by notice to the Company and the Trustee, may declare all the Notes to be due and payable immediately. Notwithstanding the
preceding, in the case of an Event of Default arising from certain events of bankruptcy, insolvency or reorganization with respect to the Company, any Significant Subsidiary or any group of Subsidiaries that, taken together, would constitute a
Significant Subsidiary described in Section 6.01(h) or 6.01(i) of the Indenture, all outstanding Notes will become due and payable without further action or notice. Holders may not enforce the Indenture or the Notes except as provided in the
Indenture. Subject to certain limitations, Holders of a majority in principal amount of the then outstanding Notes may direct the Trustee in its exercise of any trust or power conferred on it. The Trustee may withhold from Holders of the Notes
notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal, interest or premium) if it determines that withholding notice is in their interest. The Holders of a majority in
principal amount of the Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Notes waive any existing Default or Event of Default and its consequences under the Indenture except a continuing Default or Event of
Default in the payment of the principal of or premium or interest on the Notes. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and, so long as any Notes are outstanding, the Company is
required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default. 
  
 13. Defeasance and Discharge. The Notes are subject to defeasance and discharge upon the terms and conditions specified in the Indenture.

  
 14. Subordination. The indebtedness evidenced by this
Note is, to the extent provided in the Indenture, subordinate and subject in right of payment to the prior payment in full of all Senior Debt of the Company, and this Note is issued subject to the provisions of the Indenture with respect thereto.
Each Holder of this Note, by accepting the same, (a) agrees to and shall be bound by such provisions, (b) authorizes and directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination so
provided and (c) appoints the Trustee his attorney-in-fact for any and all such purposes. 
  
 15. No Recourse Against Others. No past, present or future director, officer, employee, incorporator, member, partner or stockholder or other owner of Capital Stock of the Company or any Guarantor, as such,
shall have any liability for any obligations of the Company or any Guarantor under the Notes, the Subsidiary Guarantees or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by
accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the Notes. 
  

 7 

 16. Authentication. This Note shall not be valid until authenticated by the manual signature of an
authorized signatory of the Trustee or an authenticating agent. 
  
 17. Abbreviations. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not
as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 
  
 18. CUSIP Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes and the Trustee may
use CUSIP numbers and corresponding ISIN numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption and
reliance may be placed only on the other identification numbers placed thereon. 
  
 19. Governing Law. THE INDENTURE AND THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  
 20. Successor Corporation. In the event a successor assumes all the obligations of the Company under the Notes and
the Indenture, pursuant to the terms thereof, the Company will be released from all such obligations. 
  
 The Company will furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to: 
  

	
	 Whiting Petroleum Corporation

	 1700 Broadway, Suite 2300

	 Denver, Colorado 80290-2300

	 Attention: Chief Financial Officer

  

 8 

 ASSIGNMENT FORM 
  

To assign this Note, fill in the form below: 
  
 I or we assign and transfer this Note to 
  

	
	
 Print or type assignee’s name, address and zip code)
  

	
 (Insert assignee’s soc. sec. or tax I.D. No.)

  
 and irrevocably appoint
                         agent to transfer this Note on the books of the Company. The agent may substitute another to act
for him. 
  

					
	 Date:
                    
	  	 Your Signature:
	  	

	 	  	 	  	Sign exactly as your name appears on the other side of this Note.

  

 9 

 OPTION OF HOLDER TO ELECT PURCHASE 
  
 If you want to elect to have this Note purchased by the Company pursuant to Section 4.10 or 4.15 of the Indenture, check the
box below: 
  
  ̈ 
  
 If you want to elect to have only part of this Note purchased by the Company pursuant to Section 4.10 or Section 4.15 of the Indenture, state the amount (in minimum denomination of $1,000 or integral multiples thereof) you elected to have
purchased: $             
  

							
	 Date:
	  	  

	  	 Your Signature:
	  	  

	 	  	 	  	 	  	(Sign exactly as your name appears on the other side of this Note)
			
	 	  	 	  	 Soc. Sec. or Tax Identification No.:
            

	 	  	  

	  	 
	 Signature Guarantee:
	  	 (Signature must be guaranteed)
	  	 

  
 Signatures must be guaranteed by an
“eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee
program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 
  

 10 

 SCHEDULE A 
  
 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE 
  
 The following increases or decreases in this Global Note have been made: 
  

									
	 Date

	 	 Amount of
 decrease in
 Principal
 Amount of this
 Global Note

	 	 Amount of
 increase in
 Principal
 Amount of this
 Global Note

	  	 Principal
 Amount of this
Global Note
following such
decrease or
 increase

	  	 Signature of
authorized
 officer
 of Trustee or
 Notes Custodian

  

 11

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