Document:

Form of 2003 Non-Statutory Stock Option.

 Exhibit 10.1 
  
 NON-STATUTORY STOCK OPTION AGREEMENT 
  
 THIS AGREEMENT, made in Tulsa, Oklahoma, as of the      day of
                , 2003, between ONEOK, Inc., (hereinafter referred to as “Corporation”), and «First_Name» «Last_Name»
(hereinafter referred to as “Optionee”), a key employee of the Corporation or a division or subsidiary thereof. 
  
 WHEREAS, the Corporation desires to provide the Optionee with an added incentive to continue to contribute to the growth and profitability of the
Corporation, to continue to perform services of major importance to the Corporation, and to encourage the Optionee to own shares of stock of the Corporation; and 
  
 WHEREAS, the stock option granted hereunder is granted pursuant to the terms of the Corporation’s Long-Term Incentive
Plan initially adopted August 17, 1995, as amended (hereinafter referred to as the Plan); and 
  
 WHEREAS, this option is intended to be a Non-Statutory Stock Option (as defined in Section 2[p] of the Plan), which is also commonly considered and referred to as a “nonqualified” stock option; 

 
 NOW, THEREFORE, in consideration of the mutual agreements stated
hereinafter, the Corporation and the Optionee agree that: 
  
 1.
Stock Option. The Optionee is hereby granted, and the Optionee accepts, a Non-Statutory Stock Option to purchase «NonStatutory» shares of the Corporation’s Common Stock after
                    , 2004, and prior to
                    , 2013, at a purchase price of $             per share
(the Fair Market Value [as defined in Section 2[k] of the Plan] of each share at                     , 2003,) all subject to the terms,
provisions, and conditions of this Agreement (including, without limitation, the provisions on the period of exercise in paragraph 5, below) and of the Plan, which are incorporated herein by reference. Should there be any inconsistency between the
provisions of this Agreement and the Plan, the provisions of the Plan shall control. This option may be exercised in the manner and to the extent provided in this Agreement and the Plan as to all or any part of the shares of stock subject to the
option from time to time during the option period stated above, and exercise of the option as to part of such shares shall not exhaust or terminate the option. The option shall be exercised as to not less than fifty (50) shares at any one time.
Payment of the option price shall be made concurrently with the exercise of the option, as provided in the Plan and this Agreement. 
  
 2. Plan. This option is being made pursuant to the ONEOK, Inc. Long-Term Incentive Plan initially adopted by the Board of Directors of the
Corporation on August 17, 1995, as amended, and approved by the Shareholders of the Corporation, which Plan specifies the authority of the Corporation, its Board of Directors, and a committee of the Board of Directors to select key employees to be
granted options and other stock incentives. The Executive Compensation Committee of the Board of Directors (hereinafter referred to as the Committee) is authorized to administer the Plan with respect to this option. 
  

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 3. Optionee’s Agreement Concerning Employment. In consideration of the Corporation’s
granting of this option as incentive compensation to Optionee, the Optionee agrees to continue to contribute and perform service in the employ of the Corporation or a division or subsidiary thereof at the direction, will and pleasure of the
Corporation and the Board of Directors. Provided, however, neither the foregoing agreement of the Optionee in this paragraph 3, nor any other provision in this Agreement shall confer on the Optionee any right to continue in the employ of the
Corporation (or a division or subsidiary thereof), or interfere in any way with the right of the Corporation (or such division or subsidiary) to terminate the Optionee’s employment at any time. 
  
 4. Registration of Stock; Optionee’s Representation With Respect To
Purchase for Investment. It is intended by the Corporation that the Plan and the shares of Common Stock covered by this option are to be registered under the Securities Act of 1933, as amended, prior to the date the option first becomes
exercisable; provided, that in the event such registration is for any reason not made effective for such shares, the Optionee agrees, for the Optionee, and for the Optionee’s heirs and legal representatives by inheritance or bequest, that all
shares purchased hereunder will be acquired for investment and not with a view to, or for sale or tender in connection with the distribution of any part thereof, including any transfer or distribution of such shares by the Optionee in exercising any
part of this option or as otherwise allowed by the Plan. 
  
 5.
Period of Exercise and Vesting of Option. This option may be exercised at any time after                     , 2004, and prior to
                    , 2013, as follows: 
  
 (a) After one (1) year from the date this option is granted, the Optionee may exercise it as to not more than thirty-three and one third percent (33.33%)
of the shares under this option; 
  
 (b) After two (2) years from
the date this option is granted, the Optionee may exercise it as to an additional thirty-three and one third percent (33.33%) of the shares under this option; and 
  
 (c) After three (3) years from the date this option is granted, the Optionee may exercise it as to the remaining shares
under this option. 
  
 Notwithstanding the foregoing, in the event
of involuntary termination of the Optionee’s employment with the Corporation due to the Total Disability of the Optionee, this option shall be one hundred percent (100%) exercisable and fully vested at the time of such involuntary termination;
and in the event of the Optionee’s death while still employed by the Corporation (or a division or subsidiary), this option shall be one hundred percent (100%) exercisable and fully vested; irrespective of the period of time that has then
elapsed since the date this option is granted, provided, however, this paragraph does not extend the period of exercise of this option beyond the expiration of the term thereof stated in paragraph 1, above. 
  
 6. Method of Exercise and Payment. This option shall be exercised by
written notice delivered to the Corporate Secretary of the Corporation on and in the form authorized by the Corporation, accompanied by payment of the option price for the number of shares specified and paid for in such exercise. The Corporation
shall then make delivery of such shares, provided that if any law or regulation requires the Corporation, as it determines, to take any action with respect to the shares specified in such notice before the issuance thereof, then the date of delivery

  

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 of such shares shall be extended for the period necessary to take such action. The Optionee agrees to pay to the
Corporation any applicable federal, state, or local income, employment, social security, medicare, or other withholding tax obligation arising in connection with this option, or the Optionee’s exercise thereof; and the Corporation shall have
the right, without the Optionee’s prior approval or direction, to satisfy such withholding tax by withholding all or any part of the shares of Common Stock that would otherwise be transferred and delivered to the Optionee, with any shares so
withheld to be valued at the Fair Market Value (as defined in Section 2[k] of the Plan) on the date of such withholding. The Optionee, with the consent of the Corporation, may satisfy such withholding tax by delivery and transfer to the Corporation
of shares of Common Stock of the Corporation previously owned by the Optionee, with any shares so delivered and transferred to be valued at the Fair Market Value on the date of such delivery. The purchase price of shares subject to this option shall
be paid in cash, or by bank-certified, cashiers, or personal check subject to collection; or, in the alternative, the Optionee (or other person authorized to exercise this option), may (i) pay the purchase price of such shares by delivering to the
Corporation a properly executed exercise notice together with a copy of irrevocable instructions to a stockbroker to sell immediately some or all of the shares acquired by the exercise of the option and deliver promptly to the Corporation an amount
of sale proceeds sufficient to pay the purchase price, or (ii) pay the purchase price in shares of Common Stock of the Corporation transferred and surrendered by the Optionee to the Corporation, or (iii) any combination of the foregoing means of
payment; provided, that the making of any payment by the Optionee other than by cash or check shall be subject to any conditions, rules, regulations, and procedures which the Corporation may adopt or prescribe, which shall be effective as to the
exercise of this option to the extent provided therein, without regard to the form of payment otherwise allowed or authorized with respect to any other option or participant under the Plan. If the Optionee is a Section 16 Person (as defined in
Section 2[x] of the Plan), any payment other than by cash or check shall be made only at the time and in the manner which the Corporation determines is necessary to comply with any applicable provisions of SEC Rule 16b-3 (as defined in Section 2[w]
of the Plan). 
  
 7. Transferability of Option and Termination
of Employment. 
  
 (a) Except as provided in subparagraph (b)
of this paragraph 7, below, this option shall not be transferable by the Optionee otherwise than by will or the laws of descent and distribution which apply to the Optionee’s estate, and this option shall be exercisable, during the
Optionee’s lifetime, only by the Optionee. 
  
 (b)
Notwithstanding the foregoing, the Optionee may transfer any part or all of this option to members of the Optionee’s immediate family, or to one or more trusts for the benefit of such immediate family members, or partnerships in which such
immediate family members are the only partners if the Optionee does not receive any consideration for the transfer. In the event of any such transfer, this option shall continue to be subject to the same terms and conditions otherwise applicable
hereunder and under the Plan immediately prior to its transfer, except that this option shall not be further transferable by the transferee inter vivos, except for transfer back to the original Optionee. For any such transfer to be
effective, the Optionee must provide prior written notice thereof to the Committee, unless otherwise authorized and approved by the Committee, in its sole discretion; and the Optionee shall furnish to the Committee such information as it may request
with respect to the transferee and the terms and conditions of any 
  

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 such transfer. For purposes of transfer of this option under this subparagraph (b), “immediate family” shall
mean the Optionee’s spouse, children and grandchildren. 
  
 (c) Notwithstanding anything to the contrary expressed or implied herein (including without limitation, the provisions of paragraph 5 on the exercise and vesting of this option), the unexercised portion of this option (whether or not it is
vested) shall become invalid and wholly terminated and forfeited upon (i) the Optionee’s voluntary termination of the Optionee’s employment with the Corporation (or a division or subsidiary), or (ii) upon the involuntary Termination for
Cause by the Corporation (or a division or subsidiary) of the Optionee’s employment with the Corporation (or a division or subsidiary). 
  
 (d) In the event of the Optionee’s retirement, or the Optionee’s involuntary termination of employment with the Corporation (other than a
Termination for Cause or by reason of death or Total Disability), the Optionee may exercise this option to the extent it is then vested at the time of such retirement or involuntary termination of employment under paragraph 5, above, at any time
within thirty-six (36) months after such retirement or involuntary termination. Any unvested portion of this option shall be forfeited in the event of such retirement or involuntary termination. 
  
 (e) In the event of involuntary termination of the Optionee’s employment
with the Corporation due to the Total Disability of the Optionee, the Optionee may exercise this option, which shall be fully vested at the time of such involuntary termination of employment under paragraph 5, above, at any time within thirty-six
(36) months after such involuntary termination due to Total Disability. 
  
 (f) In the event of the Optionee’s death while still employed by the Corporation (or a division or subsidiary), the legatees, or personal representatives or heirs of the Optionee may exercise this option, which shall be fully vested at
the time of the Optionee’s death under paragraph 5, above, at any time within thirty-six (36) months after the date of the Optionee’s death. 
  
 (g) In the event of the Optionee’s death within thirty-six (36) months after the Optionee’s retirement or the involuntary termination of
Optionee’s employment with the Corporation (other than a Termination for Cause or by reason of Total Disability) the legatees, or personal representatives or heirs of the Optionee may exercise this option, to the extent it was vested at the
time of such retirement or involuntary termination of employment under paragraph 5, above, at any time within the thirty-six (36) month period after the date of such retirement or involuntary termination. 
  
 (h) In the event of the death of the Optionee within thirty-six (36) months,
after the Optionee’s involuntary termination of employment with the Corporation due to Total Disability of the Optionee, the legatees, or personal representatives or heirs of the Optionee may exercise this option, which shall be fully vested at
the time of such involuntary termination of employment under paragraph 5, above, at any time within the thirty-six (36) month period after the date of such involuntary termination of employment. 
  
 (i) Notwithstanding the foregoing, the period of time in which the Optionee,
or the legatees, or personal representatives or heirs of an Optionee may exercise this option in the event 
  

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 of the Optionee’s retirement, involuntary termination of employment (other than a Termination for Cause) or death
under the foregoing provisions of this paragraph 7, shall in no event extend beyond the expiration of the term of this option as stated in paragraph 1, above. 
  

(j) For purposes of this option, an involuntary “Termination for Cause” of the Optionee’s employment with and by the Corporation (or a
division or subsidiary) shall mean that the Corporation (or a division or subsidiary) has terminated such employment by reason of (i) the Optionee’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 Optionee’s violation of any covenant, agreement or obligation not to disclose confidential information regarding the business of the Corporation (or a division or subsidiary), (iii) any violation
by the Optionee of any covenant not to compete with the Corporation (or a division or subsidiary), (iv) any act of dishonesty by the Optionee which adversely affects the business of the Corporation (or a division or subsidiary), (v) any willful or
intentional act of the Optionee which adversely affects the business of, or reflects unfavorably on the reputation of the Corporation (or a division or subsidiary); (vi) the Optionee’s use of alcohol or drugs which interferes with the
Optionee’s performance of duties as an employee of the Corporation (or a division or subsidiary), or (vii) the Optionee’s failure or refusal to perform the specific directives of the Corporation’s Board of Directors, or its officers
which directives are consistent with the scope and nature of the Optionee’s duties and responsibilities with the existence and occurrence of all of such causes to be determined by the Corporation, in its sole discretion; provided, that nothing
contained in the foregoing provisions of this paragraph shall be deemed to interfere in any way with the right of the Corporation (or a division or subsidiary), which is hereby acknowledged, to terminate the Optionee’s employment at any time
without cause. 
  
 (k) For purposes of this option, “Total
Disability” shall mean that the Optionee is permanently and totally disabled and unable to engage in any substantial gainful activity by reason of a medically determinable physical or mental impairment which can be expected to result in death
or which has lasted or can be expected to last for a continuous period of not less than twelve (12) months, and has established such disability to the extent and in the manner and form as may be required under the provisions of Section 22(e) of the
Internal Revenue Code of 1986, as amended (or corresponding section of any future federal tax code), and regulations thereunder. 
  
 (l) The Corporation may, in its sole discretion, allow this option to be exercised by a legal representative of the Optionee standing in a fiduciary
relationship to the Optionee by reason of the Optionee being incapacitated or incompetent under applicable state law. 
  
 8. Adjustment Provisions. It is understood that, prior to the expiration of this option or prior to the full exercise of this option, certain
changes in capitalization of the Corporation may occur. It is, therefore, understood and agreed with respect to changes in capitalization that: 
  
 (a) If a stock dividend is declared on the Common Stock of the Corporation, there shall be added to the shares of stock under the unexercised portion of
this option the number of shares which would have been issuable to the Optionee had the Optionee been the holder of record of the number of shares then under option, but not theretofore purchased and issued hereunder, and the option price per share
shall be adjusted accordingly. Provided, however, that in making such adjustments, no fractional shares, or scrip certificates in lieu thereof, shall be 
  

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 issuable by the Corporation, and the Optionee shall be entitled to receive only the number of full shares to which the
Optionee may be entitled by reason of such adjustment at the adjusted option price per share. 
  
 (b) In the event of an increase in the outstanding shares of Common Stock of the Corporation, effectuated for the purpose of acquiring properties or securities of another corporation or business enterprise, there
shall be no increase in the number of shares which are the subject matter of this option as a result of such acquisition. 
  
 (c) In the event of an increase or decrease in the number of outstanding shares of Common Stock of the Corporation through recapitalization,
reclassification, stock split-ups, consolidation of shares, changes in par value and the like, an appropriate adjustment shall be made in the number of shares and option price per share provided for under Section 1 of this Agreement, either by
increasing the number of shares and decreasing the option price per share or by decreasing the number of shares and increasing the option price per share, as may be required to enable the Optionee to acquire the same proportionate stockholdings at
the same aggregate purchase price. Provided, however, that in making such adjustments, no fractional shares, or scrip certificates in lieu thereof, shall be issuable by the Corporation, and the Optionee shall be entitled to receive only the number
of full shares to which the Optionee may be entitled by reason of such adjustment at the adjusted option price per share. 
  
 (d) The Corporation agrees that if during the term of this Agreement and prior to the exercise of this option as to all shares subject hereto, the
Corporation (i) shall offer for sale to holders of its Common Stock shares of Common Stock or of other classes of stock or other securities of the Corporation (except under a dividend reinvestment plan or similar plan), or (ii) in connection with
any transaction shall acquire or shall cause to be issued rights to acquire shares of stock or other securities of another corporation to or for the benefit of the holders of Common Stock of the Corporation, the Corporation will give written notice
to the Optionee of the rights which are thus to be acquired or issued to or for the benefit of the holders of Common Stock of the Corporation in sufficient time to permit the Optionee to exercise this option, to the extent this option is then
exercisable, if the Optionee should elect to do so, and to permit the Optionee to participate in such rights as a holder of such Common Stock of the Corporation. 
  
 (e) Subject to the provisions of subparagraph (f), below, in the event the Corporation proposes to merge or consolidate with
another corporation, or to sell or dispose of all or substantially all of its assets and business, or to dissolve, the Corporation will give written notice thereof to the Optionee in sufficient time to permit the Optionee to exercise this option to
the extent it is then exercisable (but without any acceleration or other modification of the terms thereof except as otherwise required and provided by the terms of the Plan and this option), if the Optionee should elect to do so, and participate in
such transaction as a shareholder of the Corporation. Provided, however, in connection with any merger or consolidation, or other transaction under which the Corporation or its holders of shares of Common Stock will acquire stock or other securities
of the continuing, resulting, or another corporation, in exchange for their shares of Common Stock of the Corporation, provision shall be made for this option to become an option covering shares of the continuing, resulting, or other corporation in
the same proportion, at an equivalent price, and subject to the same conditions, and for the issuance upon exercise by the Optionee of the Optionee’s pro rata number of shares or other securities on the basis of the number of shares of Common
Stock of the Corporation as to which the option hereby 
  

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 granted remains at the time unexercised at the same aggregate purchase price provided for in this Agreement, with the
price per unit to be adjusted upward or downward according to the increase or decrease of the number of units involved. Provided, however, that no fractional shares shall be reserved for issuance or be issuable to the Optionee and the Optionee shall
be entitled to receive only the number of full shares to which the Optionee may be entitled by reason of the foregoing at the adjusted option price per share. 
  

(f) Notwithstanding any provision to the contrary stated herein, to the extent this option is not yet fully vested and exercisable at the time of a
Change in Control with respect to the Corporation, then pursuant to the provisions of Section 8 of the Plan, it shall become fully vested and exercisable at that time; provided, that if such Change in Control occurs less than six (6) months after
the date this option was granted, then this option shall become fully vested and exercisable at the time of such Change in Control only if the Optionee agrees in writing, if requested by the Corporation in writing, to remain in the employ of the
Corporation or a division or subsidiary of the Corporation at least through the date which is six (6) months after the date the option was granted with substantially the same title, duties, authority, reporting relationships, and compensation as on
the day immediately preceding the Change in Control. The provisions of this subparagraph (f) shall be applied in addition to, and shall not reduce, modify, or change any other obligation or right of the Optionee otherwise provided for in paragraphs
3 and 7, above, concerning the Optionee’s continued employment with the Corporation or the termination thereof. If this option becomes subject to this subparagraph (f), it shall remain fully vested and exercisable until it expires or terminates
pursuant to its terms and conditions. This option is subject to the provisions of Section 8(e) of the Plan authorizing the Corporation, or a committee of its Board of Directors, to provide in advance or at the time of a Change in Control for cash to
be paid in settlement of this option, all subject to such terms and conditions as the Corporation or such committee, in its sole discretion, may determine and impose. For purposes of this subparagraph (f), the term “Change in Control”
shall have the same meaning as provided in the definition thereof stated in Section 2(c) of the Plan, including any amendments thereof which may be made from time to time in the future pursuant to the provisions of the Plan, with any amended
definition of such term to apply to all events thereafter coming within the amended meaning. 
  
 9. Stock Reserved. The Corporation shall at all times during the term of this Agreement reserve and keep available such number of shares of its Common Stock as will be sufficient to satisfy the requirements of
this Agreement, and shall pay all original issue taxes on the exercise of this option and all other fees and expenses necessarily incurred by the Corporation in connection therewith. 
  
 10. Rights of Shareholder. The Optionee shall have no rights as a shareholder in respect of shares as to which this
option shall not have been exercised and payment made as provided in the Plan, and the Optionee shall not be considered or treated as a record owner of shares with respect to which this option is exercised until the date that the stock certificate
or certificates are actually issued and such issuance reflected on the stock records of the Corporation. 
  
 11. Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the heirs, legatees, legal representatives,
successors, and assigns of the parties hereto. 
  

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 IN WITNESS WHEREOF, the Corporation has caused this Agreement to be duly executed by its officers
thereunto duly authorized, and the Optionee has signed the same, in duplicate originals, as of the day and year first above written. 
  

					
	 	 	ONEOK, Inc.
	 	 	Corporation
			
	 	 	By:	 	  

	 	 	 	 	David Kyle
	 	 	 	 	Chairman of the Board, President, and
	 	 	 	 	Chief Executive Officer
			
	 	 	 	 	  

	 	 	 	 	«First_Name» «Last_Name»
	 	 	 	 	Optionee

  

 8Form of 2003 Restricted Stock Award.

 Exhibit 10.2 
  
 RESTRICTED STOCK AWARD AGREEMENT 
  
 THIS AGREEMENT, made in Tulsa, Oklahoma, as of the      day of
                , 2003, between ONEOK, Inc., (hereinafter referred to as “Corporation”), and «First_Name» «Last_Name»
(hereinafter referred to as “Grantee”), a key employee of the Corporation or a division or subsidiary thereof. 
  
 WHEREAS, the Corporation desires to provide the Grantee with an added incentive to continue to contribute to the growth and profitability of the
Corporation, to continue to perform services of major importance to the Corporation, and to encourage the Grantee to own shares of stock of the Corporation; and 
  

WHEREAS, the stock granted hereunder is granted pursuant to the terms of the Corporation’s Long-Term Incentive Plan, as amended (hereinafter
referred to as the Plan); 
  
 NOW, THEREFORE, in consideration of
the mutual agreements stated hereinafter, the Corporation and the Grantee agree that: 
  
 1. Restricted Stock Award. The Grantee is hereby issued and granted, and the Grantee accepts, a Restricted Stock Award of «Restricted» shares of the Corporation’s Common Stock
(hereinafter also referred to as “Restricted Stock”), all subject to the terms, provisions, and conditions of this Agreement (including, without limitation, the restrictions stated in paragraph 5, below) and of the Plan, which are
incorporated herein by reference. Should there be any inconsistency between the provisions of this Agreement and the Plan, the provisions of the Plan shall control. The grant of such shares of Restricted Stock to the Grantee shall be effective in
the manner and to the extent provided in this Agreement and the Plan as to all or any part of the shares of stock subject to the grant from time to time during the period stated herein. 
  
 2. Plan. This Agreement is made and entered into pursuant to the ONEOK, Inc. Long-Term Incentive Plan as amended, and
approved by the Shareholders of the Corporation, which Plan specifies the authority of the Corporation, its Board of Directors, and a committee of the Board of Directors to select key employees to be granted stock incentives. The Executive
Compensation Committee of the Board of Directors (hereinafter referred to as the Committee) is authorized to administer the Plan with respect to this Agreement and the grant of such shares of Restricted Stock made to the Grantee pursuant to its
terms. Except where expressly stated or clearly indicated otherwise by the terms of this Agreement, all terms, words and phrases used herein shall have the same meaning and effect as stated in the Plan. 
  
 3. Grantee’s Agreement Concerning Employment. In consideration of
the Corporation’s granting a Restricted Stock Award of the shares of Restricted Stock as incentive compensation to Grantee, the Grantee agrees to continue to contribute and perform service in the employ of the Corporation or a division or
subsidiary thereof at the direction, will and pleasure of the Corporation and the Board of Directors. Provided, however, neither the foregoing agreement of the Grantee in this paragraph 3, nor any other provision in this Agreement shall 

 confer on the Grantee any right to continue in the employ of the Corporation (or a division or subsidiary thereof), or
interfere in any way with the right of the Corporation (or such division or subsidiary) to terminate the Grantee’s employment at any time. 
  
 4. Registration of Stock; Grantee’s Representation With Respect To Purchase for Investment. It is intended by the Corporation that the Plan
and the shares of Common Stock covered by the Restricted Stock Award issued and granted to the Grantee referred to in paragraph 1., are to be registered under the Securities Act of 1933, as amended, prior to the date of the grant; provided, that in
the event such registration is for any reason not made effective for such shares, the Grantee agrees, for the Grantee, and for the Grantee’s heirs and legal representatives by inheritance or bequest, that all shares acquired pursuant to the
grant will be acquired for investment and not with a view to, or for sale or tender in connection with the distribution of any part thereof, including any transfer or distribution of such shares by the Grantee pursuant to the grant and this
Agreement or as otherwise allowed by the Plan. 
  
 5.
Restrictions; Restricted Period; Transfer of Stock to Grantee. The issue and grant of the number of shares of the Restricted Stock to the Grantee stated in paragraph 1., above, shall be subject to the following terms and conditions:

  
 (a) The ownership and transfer of the Restricted Stock
granted to the Grantee shall be restricted during the period beginning                     , 2003, the date of the grant thereof (hereinafter
referred to as “Grant Date”) and ending on                     , 2006, (which period is hereinafter referred to as “Restricted
Period”), as herein provided. 
  
 (b) The shares of
Restricted Stock issued and granted to the Grantee under this Agreement shall be registered in the name of the Grantee and shall be held in the form of book entry shares with a custodian designated by the Committee, and maintained and administered
in accordance with procedures established by the Committee pursuant to the Plan and this Agreement. The grant of the Restricted Stock Award to the Grantee is conditioned upon the Grantee endorsing in blank a stock power for the Restricted Stock, and
signing and delivering and all other documents reasonably requested by the Corporation and the Committee to carry out the terms of this Agreement. 
  
 (c) The Restricted Stock may not be sold, assigned, transferred, pledged, encumbered or otherwise disposed of by Grantee or any other person except as
provided in this Agreement and the Plan until the expiration of the Restricted Period. 
  
 (d) The Grantee shall become vested in the shares of Restricted Stock, and shall become owner of the shares of Common Stock granted to the Grantee hereunder free and clear of all restrictions imposed by this Agreement
if the Grantee’s employment by the Corporation does not terminate during the Restricted Period; provided, that the Grantee shall become partially vested in the shares of Restricted Stock and the restrictions imposed by this Agreement shall
partially cease to apply in events to the extent described in paragraph 6.(d), below. 
  

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 (e) If the Grantee’s employment with the Corporation (or a division or subsidiary thereof)
terminates prior to the end of the Restricted Period by reason of (i) the Grantee’s voluntary termination of the Grantee’s employment with the Corporation (or a division or subsidiary), or (ii) the involuntary Termination for Cause by the
Corporation of the Grantee’s employment with the Corporation (or a division or subsidiary), the Grantee shall forfeit all the Grantee’s right, title or interest in the Restricted Stock; and the Grantee shall forfeit such right, title and
interest in the Restricted Stock regardless of the reason for such termination of employment. Any such termination of employment of the Grantee described in the preceding sentence shall not be deemed to occur by reason of transfer of employment of
the Grantee by or between the Corporation and any division or wholly owned subsidiary of the Corporation. Upon a forfeiture the shares of Restricted Stock forfeited shall become shares of the Corporation to be treasury stock, or authorized and
unissued Common Stock as determined by the Corporation. 
  
 (f)
The Grantee shall be entitled to vote the shares of Restricted Stock during the Restricted Period to the same extent as would have been the case if the Grantee was then vested in unrestricted ownership of the shares of the Restricted Stock;
provided, that the Grantee shall not be entitled to vote the shares of Restricted Stock with respect to record dates applicable to and for such voting rights prior to the Grant Date, or with respect to record dates occurring on or after any date on
which the Grantee forfeits the Restricted Stock hereunder. 
  
 (g)
Any dividends paid with respect to shares of the Restricted Stock that become payable during the Restricted Period shall be reinvested in shares of Common Stock of the Corporation which shall be held, maintained in the same form, and subject to the
same restrictions as apply to the Restricted Stock granted to Grantee hereunder; provided, that no dividends shall be payable or paid to or for the benefit of the Grantee with respect to records dates occurring prior to the Grant Date, or with
respect to record dates occurring on or after any date on which the Grantee forfeits the Restricted Stock hereunder. 
  
 6. Transferability of Restricted Stock; Termination of Employment. 
  
 (a) Except as provided in subparagraph (b) of this paragraph 6, below, this Agreement, the Grantee’s rights and
obligations thereunder and the Restricted Stock granted hereunder shall not be transferable by the Grantee otherwise than by will or the laws of descent and distribution which apply to the Grantee’s estate. 
  
 (b) Notwithstanding the foregoing, the Grantee may transfer any part or all
of the Grantee’s rights in the Restricted Stock to members of the Grantee’s immediate family, or to one or more trusts for the benefit of such immediate family members, or partnerships in which such immediate family members are the only
partners if the Grantee does not receive any consideration for the transfer. In the event of any such transfer, Restricted Stock shall continue to be subject to the same terms and conditions otherwise applicable hereunder and under the Plan
immediately prior to its transfer, except that this stock shall not be further transferable by the transferee inter vivos, except for transfer back to the original Grantee. 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 
  

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 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 transfer of this grant under this subparagraph (b), “immediate family” shall mean the Grantee’s spouse, children, and grandchildren. 
  
 (c) Notwithstanding anything to the contrary expressed or implied herein (including without limitation, the restrictions
stated in paragraph 5 applicable to the Restricted Stock), all rights and interest of the Grantee in the Restricted Stock shall become invalid and wholly terminated and forfeited upon (i) the Grantee’s voluntary termination of the
Grantee’s employment with the Corporation (or a division or subsidiary), or (ii) the involuntary Termination for Cause by the Corporation of the Grantee’s employment with the Corporation (or a division or subsidiary). 
  
 (d) Notwithstanding the foregoing provisions, in the event of termination of
the Grantee’s employment with the Corporation during the Restricted Period by reason of (i) the involuntary termination of the Grantee’s employment with the Corporation other than a Termination for Cause (ii) the retirement of the Grantee,
(iii) the Total Disability of the Grantee, or (iv) the Grantee’s death while still employed by the Corporation (or a division or subsidiary), then partial vesting shall be allowed as provided in this paragraph (d) and the Grantee shall become
vested in and receive, in the event of any such involuntary termination of employment other than a Termination for Cause, retirement or Total Disability, and the legatees, or personal representatives or heirs of the Grantee shall be vested in and
entitled to receive, in the event of the Grantee’s death, the percentage of the Restricted Stock which is determined by dividing the number of full months which have elapsed under the Restricted Period at the time of such termination of
employment by the number of full months in the Restriction Period. 
  
 (e) The Grantee may designate a beneficiary 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; and in the absence of such
designation of a beneficiary, any such rights shall be deemed to be transferred to the estate of the Grantee. 
  
 (f) For purposes of this Restricted Stock Award to the Grantee and this Agreement, an involuntary “Termination for Cause” of the Grantee’s
employment with and by the Corporation (or a division or subsidiary) shall mean that the Corporation (or a division or subsidiary has terminated 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 Corporation (or a division
or subsidiary), (iii) any violation by the Grantee of any covenant not to compete with the Corporation (or a division or subsidiary), (iv) any act of dishonesty by the Grantee which adversely effects the business of the Corporation (or a division or
subsidiary), (v) any willful or intentional act of the Grantee which adversely affects the business of, or reflects unfavorably on the reputation of the Corporation (or a division or subsidiary); (vi) the Grantee’s use of alcohol or drugs which
interferes with the Grantee’s performance of duties as an employee of the Corporation (or a division or subsidiary), or (vii) the Grantee’s failure or refusal to perform the specific directives 
  

 4 

 of the Corporation’s Board of Directors, or its officers which directives are consistent with the scope and nature
of the Grantee’s duties and responsibilities with the existence and occurrence of all of such causes to be determined by the Corporation, in its sole discretion; provided, that nothing contained in the foregoing provisions of this paragraph
shall be deemed to interfere in any way with the right of the Corporation (or a division or subsidiary), which is hereby acknowledged, to terminate the Grantee’s employment at any time without cause. 
  
 (g) For purposes of this Agreement and the Restricted Stock Award,
“Total Disability” shall mean that the Grantee is permanently and totally disabled and unable to engage in any substantial gainful activity by reason of a medically determinable physical or mental impairment which can be expected to result
in death or which has lasted or can be expected to last for a continuous period of not less than twelve (12) months, and has established such disability to the extent and in the manner and form as may be required under the provisions of Section
22(e) of the Internal Revenue Code of 1986, as amended (or corresponding section of any future federal tax code), and regulations thereunder. 
  
 7. Administration of Restricted Stock Award. The grant of Restricted Stock Award shall be subject to such other rules and requirements as the
Committee, in its sole discretion, may determine to be appropriate with respect to administration of this Agreement and the restrictions made applicable to the Grantee and the Restricted Stock during the Restricted Period. This Agreement and the
rights and obligations of the parties thereto shall be subject to interpretation and construction by the Committee to the same extent and with the same effect as the Committee actions under Section 11, and other pertinent provisions of the Plan. The
Grantee shall take all actions and execute and deliver all documents as may from time to time be requested by the Committee in connection with such restrictions and in furtherance hereof. The Grantee agrees to pay to the Corporation any applicable
federal, state, or local income, employment, social security, Medicare, or other withholding tax obligation arising in connection with the grant of the Restricted Stock Award to the Grantee; and the Corporation 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 shares of the Restricted Stock that would otherwise be transferred and delivered to the Grantee, with any shares so withheld to be
valued at the Fair Market Value (as defined in Section 2[k] of the Plan) on the date of such withholding. The Grantee, with the consent of the Corporation, may satisfy such withholding tax by delivery and transfer to the Corporation of shares of
Common Stock of the Corporation previously owned by the Grantee, with any shares so delivered and transferred to be valued at the Fair Market Value on the date of such delivery. 
  
 8. Adjustment Provisions. It is understood that, prior to the expiration of the Restricted Period provided in
paragraph 5.(a), certain changes in capitalization of the Corporation may occur. It is, therefore, understood and agreed with respect to changes in capitalization that: 
  
 (a) If a stock dividend is declared on the Common Stock of the Corporation, there shall be added to the number of shares of
Restricted Stock provided for under Section 1 of this Agreement, the number of shares which would have been issuable to the Grantee had the Grantee been the fully vested and unrestricted owner of the number of shares of Restricted Stock 

 

 5 

 then held under the Restricted Stock Award granted, but not theretofore received without restriction; provided, however,
that the additional shares of Restricted Stock shall be subject to all terms and provisions of this Agreement (including, without limitation, the restrictions stated in paragraph 5, above), and in making such adjustments, no fractional shares, or
scrip certificates in lieu thereof, shall be issuable by the Corporation, and the Grantee shall be entitled to receive only the number of full shares of Restricted Stock to which the Grantee may be entitled by reason of such adjustment at the
adjusted grant price per share. 
  
 (b) In the event of an
increase in the outstanding shares of Common Stock of the Corporation, effectuated for the purpose of acquiring properties or securities of another corporation or business enterprise, there shall be no increase in the number of shares of Restricted
Stock which are the subject matter of the Restricted Stock Award under this Agreement as a result of such acquisition. 
  
 (c) In the event of an increase or decrease in the number of outstanding shares of Common Stock of the Corporation through recapitalization,
reclassification, stock split-ups, consolidation of shares, changes in par value and the like, an appropriate adjustment shall be made in the number of shares of Restricted Stock provided for under Section 1 of this Agreement, by increasing or
decreasing the number of shares of Restricted Stock, as may be required to enable the Grantee to acquire the same proportionate stockholdings as the grant of the Restricted Stock Award would originally have provided. Provided, however, that any
additional shares of Restricted Stock shall be subject to all terms and provisions of this Agreement (including, without limitation, the restrictions stated in paragraph 5, above), and that in making such adjustments, no fractional shares, or scrip
certificates in lieu thereof, shall be issuable by the Corporation, and the Grantee shall be entitled to receive only the number of full shares of Restricted Stock to which the Grantee may be entitled by reason of such adjustment. 
  
 (d) Notwithstanding any provision to the contrary stated herein, to the
extent Restricted Stock is still restricted and not vested in Grantee at the time of a Change in Control with respect to the Corporation, then pursuant to the provisions of Section 8 of the Plan, it shall become fully vested and completely
unrestricted and free and clear of any restrictions stated herein at that time; provided, that if such Change in Control occurs less than six (6) months after the date of the grant of Restricted Stock to the Grantee, then Restricted Stock shall
become fully vested and completely unrestricted and free and clear of any restrictions stated herein at the time of such Change in Control only if the Grantee agrees in writing, if requested by the Corporation in writing, to remain in the employ of
the Corporation or a division or subsidiary of the Corporation at least through the date which is six (6) months after the date the grant was made with substantially the same title, duties, authority, reporting relationships, and compensation as on
the day immediately preceding the Change in Control. The provisions of this subparagraph (d) shall be applied in addition to, and shall not reduce, modify, or change any other obligation or right of the Grantee otherwise provided for in paragraph 3,
above, concerning the Grantee’s continued employment with the Corporation or the termination thereof. If the Restricted Stock becomes subject to this subparagraph (d), it shall become fully vested in the Grantee and nonforfeitable. This
Restricted Stock is subject to the provisions of Section 5(c) of the Plan authorizing the Corporation, or a committee of its Board of Directors, to provide in advance or at 
  

 6 

 the time of a Change in Control for cash to be paid in settlement of the Restricted Stock, all subject to such terms and
conditions as the Corporation or the Committee, in its sole discretion, may determine and impose. For purposes of this subparagraph (d), the term “Change in Control” shall have the same meaning as provided in the definition thereof stated
in Section 2(c) of the Plan, including any amendments thereof which may be made from time to time in the future pursuant to the provisions of the Plan, with any amended definition of such term to apply to all events thereafter coming within the
amended meaning. 
  
 9. Stock Reserved. The Corporation
shall at all times during the term of this Agreement reserve and keep available such number of shares of its Common Stock as will be sufficient to satisfy the Restricted Stock Award issued and granted to Grantee and the requirements of this
Agreement, and shall pay all original issue taxes on the grant of the Restricted Stock to the Committee and all other fees and expenses necessarily incurred by the Corporation in connection therewith. 
  
 10. Rights of Shareholder. Except as otherwise provided in this
Agreement, the Grantee shall have no rights as a shareholder in respect of shares of the Restricted Stock of which the Restricted Stock Award is granted; and the Grantee shall not be considered or treated as a record owner of shares with respect to
the Restricted Stock until the Restricted Stock is fully vested and no longer subject to any of the restrictions imposed under this Agreement. 
  
 11. Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the heirs, legatees, legal representatives,
successors, and assigns of the parties hereto. 
  
 IN WITNESS
WHEREOF, the Corporation has caused this Agreement to be duly executed by its officers thereunto duly authorized, and the Grantee has signed the same, in duplicate originals, as of the day and year first above written. 
  

			
	 ONEOK, Inc.

	 Corporation

		
	 By:
	 	  

	 	 	 David Kyle

	 	 	 Chairman of the Board, President, and

	 	 	 Chief Executive Officer

		
	 	 	  

	 	 	 «First_Name» «Last_Name»

	 	 	 Grantee

  

 7

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