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aex443descriptionofsecur

Exhibit 4.43  DESCRIPTION OF THE REGISTRANT’S SECURITIES  REGISTERED PURSUANT TO SECTION 12 OF THE SECURITIES  EXCHANGE ACT OF 1934  ONEOK has one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended:  our common stock.  Throughout this exhibit, references to “we,” “us” and “our” refer to ONEOK, Inc. and not to  any of its subsidiaries.    The following description is a summary of the material provisions of our common stock and various provisions of  our certificate of incorporation and bylaws. This summary is not intended to be complete and is qualified by  reference to the provisions of applicable law and our certificate of incorporation and bylaws included as exhibits to  the Annual Report on Form 10-K of which this Exhibit 4.43 is a part.  Authorized Shares  We are authorized to issue a total of 1,300,000,000 shares of all classes of capital stock. Of those authorized shares,  1,200,000,000 are shares of common stock, $0.01 par value per share, and 100,000,000 are shares of preferred stock,  $0.01 par value per share.   Our board of directors is authorized to issue shares of preferred stock, in one or more series or classes, and to fix for  each series or class the preferences, conversion or other rights, voting powers, restrictions, limitations as to  dividends, qualifications, or terms or redemption, as are permitted by Oklahoma law and as are stated in the  resolution or resolutions adopted by the board providing for the issuance of shares of that series or class.   On April 20, 2017, through a wholly-owned subsidiary, we contributed 20,000 shares of our Series E Non-Voting  Perpetual Preferred Stock (the “Series E Preferred Stock”), par value $0.01 per share, to the ONEOK Foundation,  Inc. The terms of the Series E Preferred Stock are set forth in the Certificate of Designation, Preferences and Rights  of Series E Non-Voting Perpetual Preferred Stock of ONEOK, Inc.   Dividends and Liquidation Rights  Subject to any preferential rights of any prior ranking class or series of capital stock, including the cumulative  quarterly cash dividend payable at a rate of 5.5% per annum on the Series E Preferred Stock and any other series of  preferred stock established by our board of directors, holders of our common stock are entitled to receive dividends  on that stock, payable either in cash, property or shares out of assets legally available for distribution when, as and if  authorized and declared by our board of directors.  Subject to the Series E Preferred Stock’s liquidation preference of $1,000 per share, holders of our common stock  are entitled to share ratably in our assets legally available for distribution to our shareholders in the event of  liquidation, dissolution or winding-up.   Subject to various exceptions, we will not be able to pay any dividend or make any distribution of assets on shares  of our common stock until we pay dividends on any shares of preferred stock then outstanding with dividend or  distribution rights senior to our common stock.  Voting Rights  Holders of our common stock are entitled to one vote per share on all matters voted on by our shareholders,  including the election of directors. Our certificate of incorporation does not provide for cumulative voting for the  election of directors, which means that holders of more than one-half of the outstanding shares of our voting  securities will be able to elect all of the directors then standing for election and holders of the remaining shares will  not be able to elect any director.  

 

Other Matters  The issued and outstanding shares of common stock are validly issued, fully paid and non-assessable.  Holders of  our common stock will have no conversion, sinking fund or redemption rights.  No holder of any class of our stock  has any preemptive or preferential right to acquire or subscribe for any unissued shares of any class of stock or any  unauthorized securities, convertible into or carrying any right, option or warrant to subscribe for or acquire shares of  any class of stock.   Anti-Takeover Provisions  Oklahoma Takeover Statute  We are subject to Section 1090.3 of the Oklahoma General Corporation Act. In general, Section 1090.3 prevents an  “interested shareholder” from engaging in a “business combination” with an Oklahoma corporation for three years  following the date that person became an interested shareholder, unless:    • prior to the date that person became an interested shareholder, our board of directors approved the business  combination or the transaction in which the interested shareholder became an interested shareholder;  • upon consummation of the transaction that resulted in the interested shareholder becoming an interested  shareholder, the interested shareholder owned at least 85% of our voting stock outstanding at the time the  transaction commenced, excluding stock held by directors who are also officers of the corporation and  stock held by certain employee stock plans; or  • on or subsequent to the date of the transaction in which that person became an interested shareholder, the  business combination was approved by our board of directors and authorized at a meeting of shareholders  by the affirmative vote of the holders of at least two-thirds of the outstanding voting stock of the  corporation not owned by the interested shareholder.  Section 1090.3 defines a “business combination” to include:  • any merger or consolidation involving the corporation and an interested shareholder;  • any sale, transfer, pledge or other disposition of 10% or more of the assets of the corporation involving an  interested shareholder;  • subject to limited exceptions, any transaction that results in the issuance or transfer by the corporation of  the stock of the corporation to an interested shareholder;  • any transaction involving the corporation that has the effect of increasing the proportionate share of the  stock of any class or series of the corporation beneficially owned by the interested shareholder; or  • the receipt by an interested shareholder of any loans, guarantees, pledges or other financial benefits  provided by or through the corporation.  For purposes of the description above and Section 1090.3, the term “corporation” also includes our majority-owned  subsidiaries. In addition, Section 1090.3, defines an “interested shareholder” as an entity or person beneficially  owning 15% or more of our outstanding voting stock and any entity or person affiliated with or controlling or  controlled by that entity or person.  Oklahoma Control Share Provisions  Our certificate of incorporation provides that we are not subject to the control share provisions of the Oklahoma  General Corporation Act. With exceptions, these provisions prevent holders of more than 20% of the voting power  of the stock of an Oklahoma corporation from voting their shares. If we were to become subject to the control share  provisions of the Oklahoma General Corporation Act in the future, this provision may delay the time it takes anyone  to gain control of us.     

 

Shareholder Action; Special Meetings of Shareholders  Our certificate of incorporation eliminates the ability of our shareholders to act by written consent. Our bylaws  provide that special meetings of our shareholders may be called only by a majority of the members of our board of  directors.  Advance Notice Requirements for Shareholder Proposals  At any annual meeting of our shareholders, the only business that shall be brought before the meeting is that which  is brought:  • pursuant to our notice of meeting;  • by or at the discretion of our board of directors; or  • by any of our shareholders of record at the time the notice is given, who are entitled to vote at the meeting  and who comply with the notice procedures set forth in our bylaws  Higher Vote for Some Business Combinations and Other Actions  Subject to various exceptions, including acquiring 85% of the outstanding shares less shares owned by related  persons in a single transaction, a business combination (including, but not limited to, a merger or consolidation, the  sale, lease, exchange, mortgage, pledge, transfer or other disposition of our assets in excess of $5,000,000, various  issuances and reclassifications of securities and the adoption of a plan or proposal for liquidation or dissolution) with  or upon a proposal by a related person, who is a person that is the direct or indirect beneficial owner of more than  10% of the outstanding voting shares of our stock (subject to various exceptions), and any affiliates of that person,  shall require, in addition to any approvals required by law, the approval of the business combination by either:  • a majority vote of all of the independent directors; or  • the holders of at least 66-2/3% of the outstanding shares otherwise entitled to vote as a single class with the  common stock to approve the business combination, excluding any shares owned by the related person.  In addition, our certificate of incorporation provides that our bylaws may only be adopted, amended or repealed by a  majority of the board of directors or by 80% of our shareholders, voting as a class. Our certificate of incorporation  also requires the affirmative vote of 80% of our shareholders to amend, repeal or adopt provisions in our certificate  of incorporation relating to, among other things:  • the number of directors and the manner of electing those directors, including the election of directors to  newly created directorships;  • provisions relating to changes in the bylaws;  • a director’s personal liability to us or our shareholders;  • shareholder ratification of various contracts, transactions and acts; and  • voting requirements for approval of business combinations.  Proxy Access  Our bylaws permit a shareholder, or a group of up to 20 shareholders, owning 3 percent or more of our common  stock continuously for a period of at least three (3) years, to nominate for election to our Board and have such  director nominations included in our proxy materials, a number of director candidates equal to the greater of (i) two  individuals or (ii) the closest whole number that does not exceed 20 percent of our Board, provided that the  shareholder(s) and the nominee(s) satisfy certain requirements specified in our bylaws.     

 

Liability of Directors and Officers  Exculpation  Our certificate of incorporation provides that our directors and officers will not be personally liable for monetary  damages for any action taken, or any failure to take any action, unless:  • the director or officer has breached his or her duty of loyalty to ONEOK or its shareholders;  • the breach or failure to perform constitutes an act or omission not in good faith or which involves  intentional misconduct or a knowing violation of law;  • the director served at the time of payment of an unlawful dividend or an unlawful stock purchase or  redemption, unless the director was absent at the time the action was taken or dissented from the action; or  • the director or officer derived an improper personal benefit from the transaction.    Indemnification  We will generally indemnify any person who was, is, or is threatened to be made, a party to a proceeding by reason  of the fact that he or she:  • is or was our director, officer, employee or agent; or  • is or was serving at our request as a director, officer, employee or agent of another corporation, partnership,  limited liability company, joint venture, trust or other enterprise or as a member of any committee or  similar body.  Any indemnification of our directors, officers or others pursuant to the foregoing provisions for liabilities arising  under the Securities Act of 1933, as amended (the “Securities Act”), are, in the opinion of the Securities and  Exchange Commission, against public policy as expressed in the Securities Act and are unenforceable.  Listing and Transfer Agent  Our common stock is listed on the New York Stock Exchange under the trading symbol “OKE.”  The current  transfer agent and registrar for our common stock is Equiniti Trust Company d/b/a EQ Shareowner Services.eip-rsu2021formofawardag

ONEOK, INC. EQUITY INCENTIVE PLAN  RESTRICTED UNIT AWARD AGREEMENT    This Restricted Unit Award Agreement (the “Agreement”) is entered into as of the ____  day of __________, 2021 by and between ONEOK, Inc. (the “Company”) and  «Employee_Name» (the “Grantee”), an employee of the Company or a Subsidiary thereof,  pursuant to the terms of the ONEOK, Inc. Equity Incentive Plan (the “Plan”).  1.  Restricted Unit Award.  This Agreement and the Notice of Restricted Unit Award  and Agreement dated February 17, 2021, a copy of which is attached hereto and incorporated  herein by reference, establishes the terms and conditions for the Company’s grant of an Award of  «No_of_Restricted_Units» Restricted Units (the “Award”) to the Grantee pursuant to the Plan.  This Agreement, when executed by the Grantee, constitutes an agreement between the Company  and the Grantee.  Capitalized terms not defined in this Agreement shall have the meaning ascribed  to them in the Plan.    2.  Restricted Period; Vesting.  The Restricted Units granted pursuant to the Award  will vest in accordance with the following terms and conditions:   (a) Grantee’s rights with respect to the Restricted Units shall be restricted during the  period beginning February 17, 2021 (the “Grant Date”), and ending on February 17, 2024 (the  “Restricted Period”).     (b) Except as otherwise provided in this Agreement or the Plan, the Grantee shall vest  in the Restricted Units granted by this Award (including any Dividend Equivalents, as described  below) at the end of the Restricted Period if the Grantee’s employment by the Company does not  terminate during the Restricted Period.  Upon vesting, the Grantee shall become entitled to receive  one (1) share of the Company’s common stock (“Common Stock”) for each such Restricted Unit.   No fractional shares shall be issued, and any amount attributable to a fractional share shall instead  be withheld to satisfy any withholding tax obligation.   (c) If the Grantee’s employment with the Company terminates prior to the end of the  Restricted Period by reason of (i) voluntary termination other than Retirement or (ii) involuntary  Termination for Cause, the Grantee shall forfeit all right, title and interest in the Restricted Units  and any Common Stock otherwise payable pursuant to this Agreement.  For purposes of this  Agreement, employment with any Subsidiary of the Company shall be treated as employment with  the Company.  Likewise, a termination of employment shall not be deemed to occur by reason of  a transfer of employment between the Company and any Subsidiary.     (d) In the event of termination of the Grantee’s employment with the Company during  the Restricted Period by reason of (i) involuntary termination other than a Termination for Cause,  (ii) Retirement, (iii) Disability or (iv) death, then the Grantee shall be partially vested in, and the  Grantee shall be entitled to receive, the percentage of the Restricted Units which is determined by  Exhibit 10.33 

 

  {00138539 2 } - 2 -    dividing the number of full months which have elapsed under the Restricted Period at the time of  such event by the number of full months in the Restricted Period.     (e) Unless the Committee provides otherwise prior to a Change in Control, in the event  of a Change in Control (as defined below), the vesting or forfeiture of the Restricted Units will be  subject to the terms and conditions of Article 11 of the Plan.     (f) For purposes of the Award and this Agreement, the term “voluntary termination”  shall mean that the Grantee had an opportunity to continue employment with the Company, but  did not do so.  An “involuntary termination” shall mean that the Company has ended the Grantee’s  employment without the Grantee having an opportunity to continue employment with the  Company. A “Termination for Cause” of the Grantee’s employment shall mean that the Company  has ended such employment by reason of (i) the Grantee’s conviction in a court of law of a felony,  or any crime or offense involving misuse or misappropriation of money or property, (ii) the  Grantee’s violation of any covenant, agreement or obligation not to disclose confidential  information regarding the business of the Company, (iii) any violation by the Grantee of any  covenant not to compete with the Company, (iv) any act of dishonesty by the Grantee which  adversely effects the business of the Company, (v) any willful or intentional act of the Grantee  which adversely affects the business of, or reflects unfavorably on the reputation of the Company,  including any material breach of a Company policy (determined in the discretion of the Company)  (vi) the Grantee’s use of alcohol or drugs which interferes with the Grantee’s duties as an employee  of the Company, or (vii) the Grantee’s failure or refusal to perform the specific directives of the  Company’s Board of Directors or officers.  “Retirement” shall mean a voluntary termination of  employment with the Company if the Grantee has both completed five (5) years of service with  the Company and attained age fifty (50). “Years of service” for this purpose excludes any service  with any predecessor employer that was not considered within the controlled group (determined  in accordance with Code section 414(c)) of the Company as of the date of the grant, unless  explicitly required by the agreement executed in connection with such asset or stock acquisition,  merger or other similar transaction  “Disability” shall have the meaning provided in the Plan.  The  term “Change in Control” shall have the meaning provided in the Plan unless the Award is or  becomes subject to  Code Section 409A, in which event the term “Change in Control” shall mean  a Change in Control as defined in the Plan that also qualifies as a “change in control event” as  defined in Treasury Regulations Section 1.409A-3(i)(5).  3. Dividend Equivalents.  During the Restricted Period, before payment or forfeiture  of the Award, the Award will be increased by a number of additional Restricted Units (“Dividend  Equivalents”) representing all cash dividends that would have been paid to the Grantee if one share  of Common Stock had been issued to the Grantee on the Grant Date for each Restricted Unit  granted pursuant to this Agreement.  The Dividend Equivalents credited during the Restricted  Period will include fractional shares; provided, however, the shares of Common Stock actually  issued upon vesting of the Dividend Equivalents shall be paid only in whole shares of Common  Stock, and any fractional shares of Common Stock in an amount of cash equal to the Fair Market  Value of such fractional shares of Common Stock shall be withheld to satisfy any withholding tax  obligation.  Dividend Equivalents shall be subject to the same vesting provisions and other terms  and conditions of this Agreement, and shall be paid on the same date, as the Restricted Units to  which they are attributable. Moreover, references in this Agreement to Restricted Units shall be  deemed to include any Restricted Units attributable to Dividend Equivalents.   

 

  {00138539 2 } - 3 -     4. Non-Transferability of Restricted Units.    (a)  The Restricted Units may not be sold, assigned, transferred, pledged, encumbered or  otherwise disposed of by Grantee or any other person until the expiration of the Restricted Period.   Any such attempt shall be wholly ineffective and will result in immediate forfeiture of all such  amounts.  (b)  Notwithstanding the foregoing, the Grantee may transfer any part or all rights in the  Restricted Units to members of the Grantee’s immediate family, to one or more trusts for the  benefit of such immediate family members or to partnerships in which such immediate family  members are the only partners, in each case only if the Grantee does not receive any consideration  for the transfer.  In the event of any such transfer, the Restricted Units shall remain subject to the  terms and conditions of this Agreement.  For any such transfer to be effective, the Grantee must  provide prior written notice thereof to the Committee, unless otherwise authorized and approved  by the Committee, in its sole discretion; and the Grantee shall furnish to the Committee such  information as it may request with respect to the transferee and the terms and conditions of any  such transfer.  For purposes of this Agreement, “immediate family” shall mean the Grantee’s  spouse, children and grandchildren.  (c) The Grantee also may designate a Beneficiary, using the form attached hereto as  Exhibit A or such other form as may be approved by the Committee, to receive any rights of the  Grantee which may become vested in the event of the death of the Grantee under procedures and  in the form established by the Committee.  In the absence of such designation of a Beneficiary,  any such rights shall be deemed to be transferred to the estate of the Grantee.  5. Distribution of Common Stock.  Subject to Section 13 of this Agreement, the  Common Stock or cash the Grantee becomes entitled to receive upon vesting of any Restricted  Units shall be distributed to the Grantee as soon as practicable after the vesting date for such  Restricted Units, as determined by the Committee in its discretion, but in no event later than 75  days after the vesting date.  The Grantee shall not be permitted, directly or indirectly, to designate  the form of payment or the taxable year in which any payment is to be made.  6.  Administration of Award; Ratification of Actions.  The Award shall be subject to  such other rules as the Committee, in its sole discretion, may determine to be appropriate with  respect to administration thereof.  This Agreement shall be subject to discretionary interpretation  and construction by the Committee.  Day-to-day authority and responsibility for administration of  the Plan, the Award and this Agreement have been delegated to the Company’s Benefit Plan  Administration Committee and its authorized representatives, and all actions taken thereby shall  be entitled to the same deference as if taken by the Committee itself.  The Grantee shall take all  actions and execute and deliver all documents as may from time to time be requested by the  Committee.  By receiving this Award or other benefit under the Plan, Grantee and each person  claiming under or through Grantee shall conclusively be deemed to have indicated acceptance and  ratification of, and consent to, any action taken under the Plan or the Award by the Company, the  Board, the Committee or the Benefit Plan Administration Committee.    7.    Tax Liability and Withholding.  The Grantee agrees to pay to the Company any  applicable federal, state or local income, employment, social security, Medicare or other  

 

  {00138539 2 } - 4 -    withholding tax obligation arising in connection with the Award to the Grantee, which the  Company shall determine; and the Company shall have the right, without the Grantee’s prior  approval or direction, to satisfy such withholding tax by withholding all or any part of the Common  Stock or cash that would otherwise be distributed or paid to the Grantee, with any shares of  Common Stock so withheld to be valued at the Fair Market Value on the date of such withholding.   The Grantee, with the consent of the Company, may satisfy such withholding tax by transferring  cash or Common Stock to the Company, with any shares of Common Stock so transferred to be  valued at the Fair Market Value on the date of such transfer.  Any payment of required withholding  taxes in the form of Common Stock shall not exceed the maximum amount of tax that may be  required to be withheld by law (or such other amount that would result in an accounting charge  with respect to such shares used to pay such taxes).  Income tax withholding shall occur on the  date of actual distribution.  Notwithstanding the foregoing, the ultimate liability for Grantee’s share  of all tax withholding is the Grantee’s responsibility, and the Company makes no tax-related  representations in connection with the grant or vesting of Restricted Units or the distribution of  Common Stock or cash to Grantee.  8.  Adjustment Provisions.  If, prior to the expiration of the Restricted Period, any  change is made to the outstanding Common Stock or in the capitalization of the Company, the  Restricted Units granted pursuant to this Award shall be equitably adjusted or terminated to the  extent and in the manner provided under the terms of the Plan.    9. Clawbacks, Insider Trading and Other Company Policies.  The Grantee  acknowledges and agrees that this Award is subject to all applicable clawback or recoupment,  insider trading, share ownership and retention and other policies that the Company’s Board of  Directors may adopt from time to time.  Notwithstanding anything in the Plan or this Agreement  to the contrary, all or a portion of the Award made to the Grantee under this Agreement is subject  to being called for repayment to the Company or reduced in any situation where the Board of  Directors or a Committee thereof determines that fraud, negligence, or intentional misconduct by  the Grantee was a contributing factor to the Company having to restate all or a portion of its  financial statement(s). The Committee may determine whether the Company shall effect any such  repayment or reduction: (i) by seeking repayment from the Grantee, (ii) by reducing (subject to  applicable law and the terms and conditions of the Plan or any other applicable plan, program,  policy or arrangement) the amount that would otherwise be awarded or payable to the Grantee  under the Award, the Plan or any other compensatory plan, program, or arrangement maintained  by the Company, (iii) by withholding payment of future increases in compensation (including the  payment of any discretionary bonus amount) or grants of compensatory awards that would  otherwise have been made in accordance with the Company's otherwise applicable compensation  practices, or (iv) by any combination of the foregoing. The determination regarding the Grantee’s  conduct, and repayment or reduction under this provision shall be within the sole discretion of the  Committee and shall be final and binding on the Grantee and the Company. The Grantee, in  consideration of the grant of the Award, and by the Grantee's execution of this Agreement,  acknowledges the Grantee's understanding of this provision and hereby agrees to make and allow  an immediate and complete repayment or reduction in accordance with this provision in the event  of a call for repayment or other action by the Company or Committee to effect its terms with  respect to the Grantee, the Award and/or any other compensation described in this Agreement.  

 

  {00138539 2 } - 5 -    10. Stock Reserved.  The Company shall at all times during the term of the Award  reserve and keep available such number of shares of its Common Stock as will be sufficient to  satisfy the Award issued and granted to Grantee and the terms stated in this Agreement.  It is  intended by the Company that the Plan and shares of Common Stock covered by the Award are to  be registered under the Securities Act of 1933, as amended, prior to the grant date; provided, that  in the event such registration is for any reason not effective for such shares, the Grantee agrees  that all shares acquired pursuant to the grant will be acquired for investment and will not be  available for sale or tender to any third party.  11. No Rights as Shareholder.  The issuance and transfer of Common Stock shall be  subject to compliance by the Company and the Grantee with all applicable laws, rules, regulations  and approvals.  No shares of Common Stock shall be issued or transferred unless and until any  then-applicable legal requirements have been fully met or obtained to the satisfaction of the  Company and its counsel.  Except as otherwise provided in this Agreement, the Grantee shall have  no rights as a shareholder of the Company in respect of the Restricted Units or Common Stock for  which the Award is granted.  The Grantee shall not be considered a record owner of shares of  Common Stock with respect to the Restricted Units until the Common Stock is actually distributed  to Grantee.  12.  Continued Employment; Employment at Will.  In consideration of the Company’s  granting the Award as incentive compensation to Grantee pursuant to this Agreement, the Grantee  agrees to all of the terms of this Agreement and to continue to perform services for the Company  in a satisfactory manner as directed by the Company.  Provided, however, no provision in this  Agreement shall confer any right to the Grantee’s continued employment, limit the right of the  Company to terminate the Grantee’s employment at any time or create any contractual right to  receive any future awards under the Plan.  Moreover, unless specifically provided under the terms  thereof, the value of the Award will not be included as compensation or earnings when calculating  the Grantee’s benefits under any employee benefit plan sponsored by the Company.  13.  Code Section 409A.  This Award and Agreement are intended to comply with Code  Section 409A or an exemption therefrom and shall be construed and interpreted in a manner that  is consistent with the requirements for avoiding additional taxes or penalties under Code Section  409A.  Notwithstanding any other provision of the Agreement, any distributions or payments due  hereunder that are subject to Code Section 409A may only be made upon an event and in a manner  permitted by Code Section 409A. “Termination of employment” or words of similar import used  in this Agreement shall mean, with respect to any payments of deferred compensation subject to  Code Section 409A, a “separation from service” as defined in Code Section 409A.  Each payment  of compensation under this Agreement, including installment payments, shall be treated as a  separate payment of compensation for purposes of applying Code Section 409A.  Except as  permitted under Code Section 409A, Grantee may not, directly or indirectly, designate the calendar  year of settlement, distribution or payment.  To the extent that an Award is or becomes subject to  Code Section 409A and Grantee is a Specified Employee (within the meaning of Code Section  409A) who becomes entitled to a distribution on account of a separation from service, no payment  shall be made before the date which is six (6) months after the date of the Grantee's separation  from service or, if earlier, the date of Grantee’s death (the “Delayed Payment Date”), if required  by Code Section 409A.  The accumulated amounts shall be distributed or paid in a lump sum  payment on the Delayed Payment Date unless the Delayed Payment Date is the date of the  

 

  {00138539 2 } - 6 -    Grantee’s death, in which event the accumulated amounts shall be paid in a lump sum payment by  December 31 following the year of Grantee’s death.  Notwithstanding the foregoing, the Company  makes no representations that the payments and benefits provided under this Agreement comply  with Code Section 409A and shall not be liable for all or any taxes, penalties, interest or other  expenses that may be incurred by the Grantee on account of non-compliance with Code Section  409A.  14. Entire Agreement; Severability; Conflicts.  This Agreement contains the entire  terms of the Award, and may not be changed other than by a written instrument executed by both  parties or an amendment of the Plan, except where such change or modification does not adversely  affect in a material way the terms of this Agreement, as provided in Section 15.4 of the Plan.  This  Agreement supersedes any prior agreements or understandings, and there are no other agreements  or understandings relating to its subject matter.  The invalidity or unenforceability of any provision  of the Plan or this Agreement shall not affect any other provision of the Plan or this Agreement,  and each provision of the Plan and this Agreement shall be severable and enforceable to the extent  permitted by law.  Should there be any inconsistency between the provisions of this Agreement  and the terms of the Award as stated in the resolutions and records of the Board of Directors or the  Plan, the provisions of such resolutions and records of the Board of Directors and the Plan shall  control.  15.  Successors and Assigns.  The Award evidenced by this Agreement shall inure to  the benefit of and be binding upon the heirs, legatees, legal representatives, successors, and assigns  of the parties hereto.  16.  Governing Law; Mandatory Claims Procedures.  This Agreement shall be  construed in accordance with, and subject to, the laws of the State of Oklahoma applicable to  contracts made and to be entirely performed in Oklahoma and wholly disregarding any choice of  law provisions or conflict of law principles that might otherwise be contrary to this express intent.   If Grantee or any person acting on Grantee’s behalf (the “Claimant”) has any claim or dispute  related in any way to the Award or to the Plan, the Claimant must follow the claims and arbitration  procedures set forth in Article 13 of the Plan.  All claims must be brought no later than one year  following the date on which the facts forming the basis of the claim are known or should have  been known by the claimant, whichever is earlier.  Any claim that is not submitted within the  applicable time limit shall be waived.    The Grantee hereby acknowledges receipt of this Agreement, the Notice of Restricted Unit  Award and Agreement and a copy of the Plan, and accepts the Award under the terms and  conditions stated in this Agreement, subject to all terms and provisions of the Plan, by signing this  Agreement as of the date indicated.  In the absences of a signed acceptance, the Grantee will be  deemed to have accepted this Award on the Grant Date, and all its associated terms and conditions,  including the mandatory claims and arbitration procedures, unless the Grantee notifies the  Company of the Grantee’s non-acceptance of the Award by contacting the stock plan  administrator, in writing within sixty (60) days of the Grant Date.                      Date            «Employee_Name»        Grantee  

 

  {00138539 2 } - 7 -    Exhibit A    Beneficiary Designation Form      I, _________________________________ (“Plan Participant”), state that I am a participant in the ONEOK,  Inc. Equity Incentive Plan,the ONEOK, Inc. Equity Compensation Plan, or any other stock compensation plan  sponsored by ONEOK, Inc. (individually and collectively, the “Plan”), and the holder of one or more Awards granted  to me under the Plan.  With the understanding that I may change the following beneficiary designations at any time  by furnishing written notice thereof to the Committee (provided that such change does not affect the time and form of  payment of any amounts subject to an existing deferral election), I hereby designate the following individuals (or  entities) as my beneficiaries to receive any and all benefits payable to me under the Plan and to exercise all rights,  benefits and features of the Awards described below, in accordance with the terms of the Plan and any associated  award agreement, in the event of my death as follows:  1. Primary Beneficiary (Beneficiaries)  The Primary Beneficiaries named below shall have first priority to any and all Awards described below and  to exercise all rights, benefits and features of the Awards described below, in accordance with the terms of the Plan  and any associated award agreement, in the event of my death.  Name    Relationship  SSN      Percentage of Total                                             If a designated Primary Beneficiary named dies or ceases to exist prior to receiving the share designated for  such Primary Beneficiary, such share shall be transferred proportionately to other surviving and existing designated  Primary Beneficiaries.  2. Contingent Beneficiary (or Beneficiaries)  The Contingent Beneficiaries named below, if any, shall receive all Awards described below and  to exercise,  enjoy and receive all rights, benefits and features of the Awards described below (including Awards that I have elected  to defer under the Plan or the ONEOK, Inc. 2005 Nonqualified Deferred Compensation Plan, if applicable) in  accordance with the Plan and the terms and provisions of such Awards in the event of my death if no Primary  Beneficiary named above survives me or exists.  Name    Relationship  SSN       Percentage of Total                                                       

 

  {00138539 2 } - 8 -    3. Awards Covered By Beneficiary Designation  This Beneficiary Designation is applicable to and covers the following Awards:  (Check one)  _______  All Awards previously granted to me under the Plan and all Awards to be granted to me  under the Plan in the future; or  _______  The following Awards that have been granted to me under the Plan:  (List Awards Covered)  Award     Grant Date      Number of Shares of Stock                                              4. General Terms  This instrument does not modify, extend or increase any rights or benefits otherwise provided for by any  Award under the Plan.  All terms used in this instrument shall have the meaning provided for under the Plan, unless  otherwise indicated herein.  This instrument is not applicable to Common Stock of ONEOK, Inc. that I have acquired  outright and without any restrictions or limitations under the Plan prior to my death.  This instrument revokes and  supersedes any prior designation of a Beneficiary (or Beneficiaries) made by me with respect to the Awards covered  by this Beneficiary Designation as set forth in Paragraph 3.    IN WITNESS WHEREOF, I have signed this instrument this     day of ____________, __________.      Plan Participant  __________________________________  Witness    __________________________________  Witness       RECEIVED AND ACKNOWLEDGED this ____ day of ________, 20__,            ______________________________________        For the Committee

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