Exhibit 10.1.ak

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AGL RESOURCES INC.
1996 NON-EMPLOYEE DIRECTORS EQUITY COMPENSATION PLAN
 
NONQUALIFIED STOCK OPTION AGREEMENT
 
This Agreement sets forth the terms of a Nonqualified Stock Option granted to
the Director by AGL Resources Inc. (the “Company”) under the above-named Plan.
 
Name of Director:___________________________________________________
 
Date of Grant: __________________ Number of Option Shares:__________
 
Exercise Price: $ ________________________ per share
 
Reload Options: This option shall be subject to reload options.
 
Exercisability: This option shall immediately be 100% exercisable.
 
Term of Exercisability: This option shall remain exercisable until the earlier
of:
 

 

A. The one-year anniversary of the date on which the Director ceases to be a
member of the Board of Directors of the Company for any reason; or

 

 

B. The date that is ten (10) years from the date of grant of this option.

 
Transferability: The option is nontransferable, except by the laws of descent
and distribution.
 

 
This Option Agreement is subject to the terms and conditions of the 1996
Non-Employee Directors Equity Compensation Plan. The Director has received a
copy of the Plan’s prospectus, including a copy of the Plan. The Director agrees
to the terms of this Option Agreement, which may be amended only upon a written
agreement signed by the parties hereto.
 
This ________ day of ____________________, 200___.
 
AGL RESOURCES INC.                 DIRECTOR:   
 
By:
 
/s/ Paul R. Shlanta                         ______________________________
Paul R. Shlanta
Senior Vice President and Corporate Secretary