Document:

Form of Amendment No. 1 Amended and Restated Agreement

 Exhibit 10.34 
 AMENDMENT NO. 1 TO AMENDED AND RESTATED 
 AGREEMENT OF LIMITED PARTNERSHIP OF 
 NORTHERN BORDER PARTNERS, L.P. 
 This
Amendment No. 1 to Amended and Restated Agreement of Limited Partnership of Northern Border Partners, L.P. (this “Amendment”), dated as of February [    ], 2006, is entered into and effectuated by Northern Plains
Natural Gas Company, LLC, a Delaware limited liability company (“Northern Plains”), Northwest Border Pipeline Company, a Delaware corporation (“Northwest Border”), and Pan Border Gas Company, LLC, a Delaware limited liability
company (“Pan Border” and, together with Northern Plains and Northwest Border, the “General Partners”), as the General Partners, pursuant to authority granted in Section 4.2 and Section 15.1 of the Amended and Restated
Agreement of Limited Partnership of Northern Border Partners, L.P., dated as of October 1, 1993 (the “Partnership Agreement”). Capitalized terms used but not defined herein are used as defined in the Partnership Agreement. 

RECITALS: 
 WHEREAS,
Section 4.2(a) of the Partnership Agreement provides that the Partnership Policy Committee, without the approval of any Limited Partners, may issue additional Partnership Securities, or classes or series thereof, for any Partnership purpose, at
any time or from time to time, and may issue such Partnership Securities for such consideration and on such terms and conditions as shall be established by the Partnership Policy Committee in its sole discretion; 
 WHEREAS, Section 4.2(b) of the Partnership Agreement provides that the Partnership Securities authorized to be issued by the Partnership pursuant to
Section 4.2(a) may be issued in one more classes, or one or more series of any such classes, with such designations, preferences and relative, participating, optional or other special rights, powers and duties (which may be senior to existing
classes and series of Partnership Securities (except as provided in Section 4.2(c)) as shall be fixed by the Partnership Policy Committee; 
 WHEREAS, Section 15.1(f) of the Partnership Agreement provides that the Partnership Policy Committee, without the approval of any Limited Partner or Assignee (subject to the terms of Section 4.2 of the Partnership Agreement), may
amend any provision of the Partnership Agreement necessary or appropriate in connection with the authorization for issuance of any class or series of Partnership Securities pursuant to Section 4.2 of the Partnership Agreement; 
 WHEREAS, the Partnership has entered into a definitive agreement, dated as of February 14, 2006, between the Partnership and ONEOK, Inc., an
Oklahoma corporation (“ONEOK”) (the “Contribution Agreement”); 
 WHEREAS, as part consideration for the contribution of
the Shares to the Partnership, the Contribution Agreement obligates the Partnership to issue limited partner interests to be designated as Class B Units having the terms set forth in this Agreement; 
 WHEREAS, the Partnership Policy Committee, in consultation with the Audit Committee, has determined that the issuance of the Class B Units provided for
in this Amendment is permitted by Section 4.2 of the Partnership Agreement; and 
  

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 WHEREAS, Section 15.1(d)(i) of the Partnership Agreement provides that the Partnership Policy
Committee, without the approval of any Limited Partner or Assignee, may amend any provision of the Partnership Agreement to reflect a change that the Partnership Policy Committee determines, in its sole discretion, does not adversely affect the
Limited Partners in any material respect; 
 NOW, THEREFORE, it is hereby agreed as follows: 
  

	 	A.	Amendment. The Partnership Agreement is hereby amended as follows: 

  

	 	1)	Section 1.1 is hereby amended to add the following definitions: 

 “Class B Subordination Period” means the period commencing upon issuance of the Class B Units and ending on the earlier of (a) the Conversion Approval Date or (b) the Conversion Approval
Termination Date. 
 “Class B Unit” means a Unit representing a fractional part of the Partnership Interests
of all Limited Partners and Assignees and having the rights and obligations specified with respect to Class B Units in this Agreement. Except as otherwise provided in this Agreement, the term “Class B Unit” does not refer to a
Common Unit prior to the conversion of the Class B Unit into a Common Unit pursuant to the terms hereof. 
 “Class B
Unit Arrearage” means, with respect to any Class B Unit, and as to any calendar quarter within the Class B Subordination Period, the excess, if any, of (a) the Minimum Quarterly Distribution with respect to such Class B Unit (including
any applicable increased amounts distributable with respect to the Minimum Quarterly Distribution following the Class B Distribution Increase Date, the Section 4.11(b) Distribution Increase Date or the GP Removal Date) over (b) the sum of
all Available Cash distributed with respect to such Class B Unit in respect of such quarter pursuant to Section 4.10(b)(ii)(A) (and Section 4.10(b)(ii)(A)(1) following the Class B Distribution Increase Date and/or GP Removal Date, as
applicable). 
 “Cumulative Class B Unit Arrearage” means, with respect to any Class B Unit, and as of the
end of any calendar quarter (or on the expiration of the Class B Subordination Period), the excess, if any, of (a) the sum resulting from adding together the Class B Unit Arrearage as to such Class B Unit for each of the quarters within the
Class B Subordination Period over (b) the sum resulting from adding together (i) any distributions theretofore made pursuant to Section 4.10(b)(ii)(B) (and Section 4.10(b)(ii)(A)(2) following the Class B Distribution Increase
Date and/or GP 

  

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Removal Date, as applicable) with respect to such Class B Unit (including any distributions to be made in respect of the last of such quarters) and
(ii) any Cumulative Common Unit Arrearage then existing upon conversion of a Class B Unit into a Common Unit pursuant to the terms hereof or the occurrence of a Termination Capital Transaction. 
  

	 	2)	Section 1.1 is hereby amended to: 

  

	 	a)	add the following sentence to the end of the definition of “Common Unit”: 

 “Except as otherwise provided in this Agreement, the term “Common Unit” does not refer to a Class B Unit prior to the
conversion of the Class B Unit into a Common Unit pursuant to the terms hereof.” 
  

	 	b)	add the phrase “or within the Class B Subordination Period” after the phrase “and as to any calendar quarter within the Subordination Period” in the definition
of “Common Unit Arrearage.” 

  

	 	c)	add the phrase “or within the Class B Subordination Period” after the phrase “for each of the quarters within the Subordination Period ending on or before the last
day of such quarter” in clause (a) of the definition of “Cumulative Common Unit Arrearage.” 

  

	 	d)	add the following proviso to the end of the definition of “Outstanding”: 

 “; provided, further, that, except as provided in Sections 4.11(a), 4.11(b), 4.12(a) and 4.12(b), none of the Class B Units shall be
deemed to be Outstanding for purposes of determining if any Class B Units are entitled to distributions of Available Cash unless such Class B Units shall have been reflected on the Partnership’s books and records as outstanding during such
calendar quarter and on the Record Date for the determination of any distribution of Available Cash;” 
  

	 	e)	add the phrase “or if not offered to the public, the price per Unit at which such class or series of Unit was initially issued, in each case” after the phrase “for
sale by the Underwriters in respect of such offering,” in the definition of “Unrecovered Initial Unit Price.” 

  

	 	3)	Article IV is hereby amended to add new Sections 4.10 – 4.13 creating a new class of Units as follows: 

 Section 4.10 Establishment of Class B Units. 
  

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	 	a)	General. The Partnership Policy Committee hereby designates and creates a class of Units to be designed as “Class B Units” and consisting of a total of 36,494,126
Class B Units, and fixes the designations, preferences and relative, participating, optional or other special rights, power and duties of holders of the Class B Units as set forth in this Section 4.10. 

  

	 	b)	Rights Associated with Class B Units. During the period commencing upon issuance of the Class B Units and ending upon the conversion of the Class B Units as set forth in
Section 4.10(f) hereof, unless amended pursuant to Section 4.11 or Section 4.12 hereof: 

  

	 	i)	subject to the provisions of Section 5.1(d)(iii)(A), and unless clauses (ii), (iii), or (iv) below require a different allocation pursuant to Section 5.1(c)(i) or
otherwise, all items of Partnership income, gain, loss, deduction and credit shall be allocated to the Class B Units to the same extent as such items would be so allocated if such Class B Units were Common Units that were then Outstanding;

  

	 	ii)	Notwithstanding anything to the contrary in Section 5.4, with respect to distributions made in accordance with Section 5.4 for calendar quarters ending on or prior to the
expiration of the Class B Subordination Period, the Class B Units shall be deemed Units, but not Common Units, for such purposes and, in addition, the holders of Class B Units shall have the right to share in Partnership quarterly cash distributions
in accordance with Section 5.4 hereof (such distribution to be prorated for the quarter in which the Class B Units are issued), provided that following any distribution pursuant to Section 5.4(c) and prior to any distribution pursuant to
Section 5.4(d), Available Cash shall be distributed as follows: 

  

	 	(A)	99% to the holders of Class B Units and 1% to the General Partners, in accordance with their relative General Partner Percentage Interests, until there has been distributed in
respect of each Class B Unit Outstanding as of the last day of such quarter an amount equal to the Minimum Quarterly Distribution; and 

  

	 	(B)	 then, 99% to the holders of Class B Units and 1% to the General Partners, in accordance with their relative General Partner Percentage Interests, until there has
been distributed in respect of each Class B 

  

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Unit Outstanding as of the last day of such quarter an amount equal to the Cumulative Class B Unit Arrearage, if any, existing with respect to such quarter.

  

	 	iii)	The holders of Class B Units shall have the right to share in Partnership quarterly cash distributions for quarters ending after the expiration of the Class B Subordination Period
in accordance with Section 5.4 hereof as if such holders of Class B Units held Common Units and, in addition, notwithstanding anything to the contrary set forth in Section 5.4, if a Cumulative Class B Unit Arrearage exists on the date of
the expiration of the Class B Subordination Period, prior to any distribution pursuant to Section 5.4(d), irrespective of whether any such Class B Units are then Outstanding, Available Cash shall be distributed in accordance with
Section 4.10(b)(ii)(B) hereof to each holder of record of the applicable Class B Units as of the expiration of the Class B Subordination Period. This distribution shall not be deemed a distribution on a Common Unit, but the satisfaction of
prior entitlements of the holders of Class B Units as of the expiration of the Class B Subordination Period. For the taxable year in which such distribution is made, if not previously allocated, each Person receiving such cash distribution shall be
allocated items of gross income in an amount equal to such distribution as provided in Section 5.1(d)(iii)(A). 

  

	 	iv)	Notwithstanding anything to the contrary in Section 5.1(c)(i), during the Class B Subordination Period the Class B Units shall be treated as Common Units then Outstanding for
purposes of Section 5.1(c)(i), and, in addition, following any allocation made pursuant to Section 5.1(c)(i)(B) and before an allocation is made pursuant to Section 5.1(c)(i)(C), any remaining Net Termination Gain shall be allocated
99% to the holders of the Class B Units and 1% to the General Partners, in accordance with their relative General Partner Percentage Interests, until each such holder of a Class B Unit has been allocated Net Termination Gain equal to any then
existing Cumulative Class B Unit Arrearage with respect to such Class B Unit. 

  

	 	c)	 Voting Rights. Unless amended pursuant to Section 4.11 or Section 4.12 hereof, (i) during the Class B Subordination Period, the Class B Units
are non-voting (and solely for all purposes of calculating votes and determining the presence of a quorum under this Agreement, none of the Class B Units shall be deemed Outstanding), except that the Class B Units shall be entitled to vote 

  

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as a separate class on any matter that adversely affects the rights or preferences of the Class B Units in relation to other classes of Partnership Interests
or as required by law. The approval of a majority of the Class B Units shall be required to approve any matter for which the holders of the Class B Units are entitled to vote as a separate class, and (ii) upon expiration of the Class B
Subordination Period, the Class B Units will have such voting rights pursuant to the Partnership Agreement as such Class B Units would have if they were Common Units that were then Outstanding except that, with respect to the Conversion Approval or
Amendment Approval, none of the Class B Units shall be deemed Outstanding as of the record date for such vote or be entitled to vote. Each Class B Unit will be entitled to the number of votes equal to the number of Common Units into which a Class B
Unit is convertible at the time of the record date for the vote or written consent on the matter. 

  

	 	d)	Certificates. The Class B Units will be evidenced by certificates in such form as the Partnership Policy Committee may approve and, subject to the satisfaction of any
applicable legal and regulatory requirements, may be assigned or transferred in a manner identical to the assignment and transfer of other Units. The Certificates will include the restrictive legend set forth in Section 2.17 of the Contribution
Agreement. 

  

	 	e)	Registrar and Transfer Agent. Northern Plains will act as registrar and transfer agent of the Class B Units. 

  

	 	f)	Conversion. Except as provided in this Section 4.10(f), the Class B Units are not convertible into Common Units. 

  

	 	i)	 Optional Conversion. The Partnership shall, as promptly as practicable following the issuance of any Class B Units, take such actions as may be necessary or
appropriate to submit to a vote or consent of its securityholders the approval of a change in the terms of the Class B Units to provide that each Class B Unit shall be convertible from time to time, at the option of the holders thereof, into one
Common Unit (subject to appropriate adjustment in the event of any split-up, combination or similar event affecting the Common Units that occurs prior to the conversion of the Class B Units), effective upon approval of the issuance of additional
Common Units in accordance with the following sentence (the “Conversion Approval”). The vote or consent required for such approval will be the requisite vote required under the rules or staff interpretations of the National Securities
Exchange on which the Common Units are listed or admitted for trading for the listing or addition to 

  

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trading of the Common Units that would be issued upon such conversion, excluding those Units held by ONEOK and its affiliates. Upon receipt of the required
vote or consent (the date of such approval, the “Conversion Approval Date”), the terms of the Class B Units will be changed, automatically and without further action, so that each Class B Unit may be converted, at the option of the holder
thereof, into one Common Unit (subject to appropriate adjustment in the event of any split-up, combination or similar event affecting the Common Units that occurs prior to the conversion of the Class B Units). 

  

	 	ii)	Automatic Conversion. The Partnership shall, as promptly as practicable following the issuance of any Class B Units, take such actions as may be necessary or appropriate to
submit to a vote or consent of holders of at least 66 2/3% of the Outstanding Units (excluding those Units held
by ONEOK and its Affiliates) and otherwise as required by Section 15.2 of the Partnership Agreement, the amendments to the Partnership Agreement described on Annex A (the approval of such amendment, the “Amendment Approval,” and the
date of obtaining the Amendment Approval, the “Amendment Approval Date”). Subject to Section 4.12, each Class B Unit shall automatically convert into one Common Unit (subject to appropriate adjustment in the event of any split-up,
combination or similar event affecting the Common Units that occurs prior to the conversion of the Class B Units) upon receipt of: 

  

	 	(A)	Conversion Approval as set forth above in paragraph (i); and 

  

	 	(B)	Amendment Approval as set forth above in this paragraph (ii); 

 and immediately thereafter, none of the Class B Units shall be outstanding. 
  

	 	iii)	 Quarterly Cash Distributions. Each Common Unit into which a Class B Unit has been converted as provided in this Section 4.10(f) shall have the right to
share in any Partnership quarterly cash distributions made in respect of a Common Unit in accordance with Section 5.4 hereof (including, without limitation and not withstanding anything to the contrary contained in the Partnership Agreement,
the right to any distributions of amounts in 

  

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respect of Cumulative Common Unit Arrearages in respect of a Common Unit). 

 Section 4.11 Amendment of Terms of Class B Units if SecurityHolder Approval is Not Obtained. 
 a) If: 
  

	 	i)	the Conversion Approval has not been obtained by the date that is 12 months following the Closing (as defined under the Contribution Agreement); and 

  

	 	ii)	the Amendment Approval has not been obtained by the date that is 12 months following the Closing; 

 then, unless the provisions of Section 4.12 shall already be in effect, effective as of the next succeeding day (the “Class B Distribution
Increase Date”) until amended by the provisions of Section 4.12, Sections 4.10(b) and 4.10(c) hereof will be deemed to be amended in their entirety, automatically and without further action, as follows: 
 “b) Rights Associated with Class B Units. Prior to the conversion of all of the Class B Units pursuant to Section 4.10(f) above:

  

	 	i)	subject to the provisions of Section 5.1(d)(iii)(A) and paragraphs (ii) and (iii) below, all items of Partnership income, gain, loss, deduction and credit shall be
allocated to the Class B Units to the same extent such items would be allocated if such Class B Units were Common Units then Outstanding, and the allocations to Class B Units shall have the same order of priority relative to allocations on the
Common Units; 

  

	 	ii)	(A) notwithstanding anything to the contrary in Section 5.4, the Class B Units shall be deemed Units, but not Common Units, for purposes of Section 5.4 and the Class B
Units shall have the right to share in Partnership quarterly cash distributions in accordance with Section 5.4 hereof based on 115% of the amount of any Partnership distribution that would be made to each Common Unit so that the amount of any
Partnership distribution to each Class B Unit will equal 115% of the amount of such distribution to each Common Unit (such additional 15% pro rated for the quarter in which the Class B Distribution Increase Date occurs), provided, however, that
following any distribution pursuant to Section 5.4(c) and prior to any distribution pursuant to Section 5.4(d), Available Cash shall be distributed as follows: 

  

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 (1) 99% to the holders of Class B Units and 1% to the General Partners, in accordance with their
relative General Partner Percentage Interests, until there has been distributed in respect of each Class B Unit Outstanding as of the last day of such quarter an amount equal to 115% of the Minimum Quarterly Distribution; and 
 (2) then, 99% to the holders of Class B Units and 1% to the General Partners, in accordance with their relative General Partner Percentage Interests,
until there has been distributed in respect of each Class B Unit Outstanding as of the last day of such quarter an amount equal to the Cumulative Class B Unit Arrearage, if any, existing with respect to such quarter. 
 (B) notwithstanding anything to the contrary contained in Section 5.4, if a Cumulative Class B Unit Arrearage exists on the date of the expiration
of the Class B Subordination Period, prior to any distribution pursuant to Section 5.4(d), irrespective of whether any such Class B Units are then Outstanding, Available Cash shall be distributed 99% to the holders of record of the applicable
Class B Units as of the expiration of the Class B Subordination Period and 1% to the General Partners, in accordance with their relative General Partner Percentage Interests, until there has been distributed in respect of each Class B Unit an amount
equal to the Cumulative Class B Unit Arrearage, if any, existing with respect to such quarter. This distribution shall not be deemed a distribution on a Common Unit, but the satisfaction of prior entitlements of the holders of Class B Units as of
the expiration of the Class B Subordination Period. For the taxable year in which such distribution is made, if not previously allocated, each Person receiving such cash distribution shall be allocated items of gross income in an amount equal to
such distribution as provided in Section 5.1(d)(iii)(A); and 
  

	 	iii)	 the Class B Units shall have rights upon dissolution and liquidation of the Partnership, including the right to share in any liquidating distributions, that are
based on 115% of the liquidating distributions that would be made to the Common Units so that the amount of any liquidating distribution to each Class B Unit will equal 115% of the amount of such distribution to each Common Unit, and, in addition,
following any allocation made pursuant to Section 5.1(c)(i)(B) and before an allocation is made pursuant to Section 5.1(c)(i)(C), any remaining Net Termination Gain shall be allocated 99% to 

  

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the holders of the Class B Units and 1% to the General Partners, in accordance with their relative General Partner Percentage Interests, until each such
holder of a Class B Unit has been allocated Net Termination Gain equal to any then existing Cumulative Class B Unit Arrearage with respect to such Class B Unit, and accordingly, notwithstanding anything to the contrary in this Agreement, prior to
any distribution under Section 14.3, the Capital Account of each Partner shall be adjusted to give effect to the foregoing liquidation rights. 

 c) Voting Rights. The Class B Units will have such voting rights pursuant to the Partnership Agreement as such Class B Units would have if they were Common Units that were then Outstanding except that, with
respect to the Conversion Approval or Amendment Approval, none of the Class B Units shall be deemed Outstanding as of the record date for such vote or be entitled to vote. Each Class B Unit will be entitled to the number of votes equal to the number
of Common Units into which a Class B Unit is convertible at the time of the record date for the vote or written consent on the matter.” 
 b) If: 
  

	 	i)	the Conversion Approval has been obtained by the date that is 12 months following the Closing (as defined under the Contribution Agreement); and 

  

	 	ii)	the Amendment Approval has not been obtained by the date that is 12 months following the Closing; 

 then, unless the provisions of Section 4.12 shall already be in effect, effective as of the next succeeding day (the “Section 4.11(b)
Distribution Increase Date”) until amended by the provisions of Section 4.12, Sections 4.10(b) and 4.10(c) hereof will be deemed to be amended in their entirety, automatically and without further action, as follows: 
 “b) Rights Associated with Class B Units. Prior to the conversion of all of the Class B Units pursuant to Section 4.10(f) above:

  

	 	i)	subject to the provisions of Section 5.1(d)(iii)(A) and paragraphs (ii) and (iii) below, all items of Partnership income, gain, loss, deduction and credit shall be
allocated to the Class B Units to the same extent such items would be allocated if such Class B Units were Common Units then Outstanding, and the allocations to Class B Units shall have the same order of priority relative to allocations on the
Common Units; 

  

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	 	ii)	(A) the Class B Units shall have the right to share in Partnership quarterly cash distributions based on 115% of the amount of any Partnership distribution that would be made to
each Common Unit so that the amount of any Partnership distribution to each Class B Unit will equal 115% of the amount of such distribution to each Common Unit (such additional 15% pro rated for the quarter in which the Class B Distribution Increase
Date occurs), and the right of holders of Class B Units to receive distributions shall have the same order of priority relative to distributions on the Common Units; and 

 (B) notwithstanding anything to the contrary contained in Section 5.4, if a Cumulative Class B Unit Arrearage existed on the date of the expiration
of the Class B Subordination Period, prior to any distribution pursuant to Section 5.4(d), irrespective of whether any such Class B Units are then Outstanding, Available Cash shall be distributed 99% to the holders of record of the applicable
Class B Units as of the expiration of the Class B Subordination Period and 1% to the General Partners, in accordance with their relative General Partner Percentage Interests, until there has been distributed in respect of each Class B Unit an amount
equal to the Cumulative Class B Unit Arrearage, if any, existing with respect to such quarter. This distribution shall not be deemed a distribution on a Common Unit, but the satisfaction of prior entitlements of the holders of Class B Units as of
the expiration of the Class B Subordination Period. For the taxable year in which such distribution is made, if not previously allocated, each Person receiving such cash distribution shall be allocated items of gross income in an amount equal to
such distribution as provided in Section 5.1(d)(iii)(A); and 
  

	 	iii)	 the Class B Units shall have rights upon dissolution and liquidation of the Partnership, including the right to share in any liquidating distributions, that are
based on 115% of the liquidating distributions that would be made to the Common Units so that the amount of any liquidating distribution to each Class B Unit will equal 115% of the amount of such distribution to each Common Unit, and, in addition,
following any allocation made pursuant to Section 5.1(c)(i)(B) and before an allocation is made pursuant to Section 5.1(c)(i)(C), any remaining Net Termination Gain shall be allocated 99% to the holders of the Class B Units and 1% to the
General Partners, in accordance with their relative General Partner Percentage Interests, until each such holder of a Class B Unit 

  

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has been allocated Net Termination Gain equal to any then existing Cumulative Class B Unit Arrearage with respect to such Class B Unit, and accordingly,
notwithstanding anything to the contrary in this Agreement, prior to any distribution under Section 14.3, the Capital Account of each Partner shall be adjusted to give effect to the foregoing liquidation rights. 

 c) Voting Rights. The Class B Units will have such voting rights pursuant to the Partnership Agreement as such Class B Units would have if they
were Common Units that were then Outstanding except that, with respect to the Conversion Approval or Amendment Approval, none of the Class B Units shall be deemed Outstanding as of the record date for such vote or be entitled to vote. Each Class B
Unit will be entitled to the number of votes equal to the number of Common Units into which a Class B Unit is convertible.” 
 c) If a
Class B Distribution Increase Date or Section 4.11(b) Distribution Increase Date has occurred and the Partnership’s securityholders thereafter either (1) obtain the Conversion Approval and the Amendment Approval, or (2) any of
the Class B Units are converted into Common Units pursuant to Section 4.10(f)(i), then, unless the provisions of Section 4.12 shall already be in effect, (i) with respect to the matters described in sub-clause (1) above, as of
the later of the Conversion Approval Date and the Amendment Approval Date, all Class B Units shall automatically, and without further action of the holder(s) thereof, be converted into Common Units in accordance with Section 4.10(f)(ii), and
(ii) with respect to matters described in sub-clauses (1) and (2) above for the quarter in which such conversion occurs, concurrently with the distribution made in accordance with Article V of the Partnership Agreement of Available
Cash, with respect to the quarter in which the conversion of the Class B Units is effected, a distribution shall be paid to each holder of record of the applicable Class B Units as of the effective date of such conversion, with the amount of such
distribution for each such Class B Unit to be equal to the product of (a) 15% of the amount to be distributed in respect of such quarter to each Common Unit times (it being agreed that each such Common Unit issued upon conversion shall be
entitled to the full distribution payable to the holder of a Common Unit) and (b) a fraction, of which (A) the numerator is the number of days in such quarter up to but excluding the date of such conversion, and (B) the denominator is
the total number of days in such quarter (the foregoing amount being referred to as an “Excess Payment”). For the taxable year in which an Excess Payment is made, each holder of a Class B Unit shall be allocated items of gross income with
respect to such taxable year in an amount equal to the Excess Payment distributed to it as provided in Section 5.1(d)(iii)(A). 
 Section 4.12 Amendment of Terms of Class B Units Upon Removal of the General Partner. 
  

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 a) If prior to the conversion of all Class B Units, a resolution of the Limited Partners holding the
requisite majority of Outstanding Units is passed approving the removal of any Affiliate of ONEOK as the general partner of the Partnership (a “GP Removal Event”) and the Conversion Approval has not been obtained, then notwithstanding
Section 4.11, automatically and without further action and, effective as of the next succeeding day (the “GP Removal Date”), Section 4.10(f)(ii) shall be deemed to be deleted in its entirety, automatically and without further
action, and Sections 4.10(b) and 4.10(c) hereof will be deemed to be amended in their entirety, automatically and without further action, as follows: 
 “b) Rights Associated with Class B Units. Prior to the conversion of the Class B Units as set forth in Section 4.10(f) hereof: 
  

	 	i)	subject to the provisions of Section 5.1(d)(iii)(A) and paragraphs (ii) and (iii) below, all of items Partnership income, gain, loss, deduction and credit shall be
allocated to the Class B Units to the same extent as such items would be allocated if such Class B Units were Common Units then Outstanding, and the allocations to Class B Units shall have the same order of priority relative to allocations on the
Common Units; and 

  

	 	ii)	(A) notwithstanding anything to the contrary in Section 5.4, the Class B Units shall be deemed Units, but not Common Units, for purposes of Section 5.4 and the Class B
Units shall have the right to share in Partnership quarterly cash distributions in accordance with Section 5.4 hereof based on 125% of the amount of any Partnership distribution that would be made to each Common Unit so that the amount of any
Partnership distribution to each Class B Unit will equal 125% of the amount of such distribution to each Common Unit (such additional 25% pro rated for the quarter in which the GP Removal Date occurs), provided, however, that following any
distribution pursuant to Section 5.4(c) and prior to any distribution pursuant to Section 5.4(d), Available Cash shall be distributed as follows: 

 (1) 99% to the holders of Class B Units and 1% to the General Partners, in accordance with their relative General Partner Percentage Interests, until there has been distributed in respect of each Class B Unit
Outstanding as of the last day of such quarter an amount equal to 125% of the Minimum Quarterly Distribution; and 
 (2) then, 99% to the
holders of Class B Units and 1% to the General Partners, in accordance with their relative General Partner Percentage Interests, until there has been 

  

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distributed in respect of each Class B Unit Outstanding as of the last day of such quarter an amount equal to the Cumulative Class B Unit Arrearage, if any,
existing with respect to such quarter. 
 (B) notwithstanding anything to the contrary in Section 5.4, if a Cumulative Class B Unit
Arrearage exists on the date of the expiration of the Class B Subordination Period, prior to any distribution pursuant to Section 5.4(d), irrespective of whether any such Class B Units are then Outstanding, Available Cash shall be distributed
99% to the holders of record of the applicable Class B Units as of the expiration of the Class B Subordination Period and 1% to the General Partners, in accordance with their relative General Partner Percentage Interests, until there has been
distributed in respect of each Class B Unit an amount equal to the Cumulative Class B Unit Arrearage, if any, existing with respect to such quarter. This distribution shall not be deemed a distribution on a Common Unit, but the satisfaction of prior
entitlements of the holders of Class B Units as of the expiration of the Class B Subordination Period. For the taxable year in which such distribution is made, if not previously allocated, each Person receiving such cash distribution shall be
allocated items of gross income in an amount equal to such distribution as provided in Section 5.1(d)(iii)(A); and 
  

	 	iii)	the Class B Units shall have rights upon dissolution and liquidation of the Partnership, including the right to share in any liquidating distributions, that are based on 125% of the
liquidating distributions that would be made to the Common Units so that the amount of any liquidating distribution to each Class B Unit will equal 125% of the amount of such distribution to each Common Unit, and, in addition, following any
allocation made pursuant to Section 5.1(c)(i)(B) and before an allocation is made pursuant to Section 5.1(c)(i)(C), any remaining Net Termination Gain shall be allocated 99% to the holders of the Class B Units and 1% to the General
Partners, in accordance with their relative General Partner Percentage Interests, until each such holder of a Class B Unit has been allocated Net Termination Gain equal to any then existing Cumulative Class B Unit Arrearage with respect to such
Class B Unit, and accordingly, notwithstanding anything to the contrary in this Agreement, prior to any distribution under Section 14.3, the Capital Account of each Partner shall be adjusted to give effect to the foregoing liquidation rights.

  

 14 

 c) Voting Rights. The Class B Units will have such voting rights pursuant to the Partnership
Agreement as such Class B Units would have if they were Common Units that were then Outstanding except that, (i) for the purposes of the definition of “Outstanding” such Class B Units shall be deemed to be “Units,” but not
“Common Units,” for all purposes thereof and (ii) with respect to the Conversion Approval (if not already obtained), none of the Class B Units shall be deemed Outstanding as of the record date for such vote or be entitled to vote .
Each Class B Unit will be entitled to one vote on each matter with respect to which such Class B Unit is entitled to be voted.” 
 b) If, the Conversion Approval has been obtained and a GP Removal Event occurs, then notwithstanding Section 4.11, automatically and without further action and, effective as of the GP Removal Date, Section 4.10(f)(ii) shall be
deemed to be deleted in its entirety, automatically and without further action, and Sections 4.10(b) and 4.10(c) hereof will be deemed to be amended in their entirety, automatically and without further action, as follows: 
 “b) Rights Associated with Class B Units. Prior to the conversion of the Class B Units as set forth in Section 4.10(f) hereof:

  

	 	i)	subject to the provisions of Section 5.1(d)(iii)(A) and paragraphs (ii) and (iii) below, all of items Partnership income, gain, loss, deduction and credit shall be
allocated to the Class B Units to the same extent as such items would be allocated if such Class B Units were Common Units then Outstanding, and the allocations to Class B Units shall have the same order of priority relative to allocations on the
Common Units; and 

  

	 	ii)	(A) the Class B Units shall have the right to share in Partnership quarterly cash distributions based on 125% of the amount of any Partnership distribution that would be made to
each Common Unit so that the amount of any Partnership distribution to each Class B Unit will equal 125% of the amount of such distribution to each Common Unit (such additional 25% pro rated for the quarter in which the GP Removal Date occurs), and
the right of holders of Class B Units to receive distributions shall have the same order of priority relative to distributions on the Common Units; and, 

 (B) notwithstanding anything to the contrary in Section 5.4, if a Cumulative Class B Unit Arrearage existed on the date of the expiration of the Class B Subordination Period, prior to any distribution pursuant to
Section 5.4(d), irrespective of whether any such Class B Units are then Outstanding, Available Cash shall be distributed 99% to the 

  

 15 

 
holders of record of the applicable Class B Units as of the expiration of the Class B Subordination Period and 1% to the General Partners, in accordance with
their relative General Partner Percentage Interests, until there has been distributed in respect of each Class B Unit an amount equal to the Cumulative Class B Unit Arrearage, if any, existing with respect to such quarter. This distribution shall
not be deemed a distribution on a Common Unit, but the satisfaction of prior entitlements of the holders of Class B Units as of the expiration of the Class B Subordination Period. For the taxable year in which such distribution is made, if not
previously allocated, each Person receiving such cash distribution shall be allocated items of gross income in an amount equal to such distribution as provided in Section 5.1(d)(iii)(A); and 
  

	 	iii)	the Class B Units shall have rights upon dissolution and liquidation of the Partnership, including the right to share in any liquidating distributions, that are based on 125% of the
liquidating distributions that would be made to the Common Units so that the amount of any liquidating distribution to each Class B Unit will equal 125% of the amount of such distribution to each Common Unit, and, in addition, following any
allocation made pursuant to Section 5.1(c)(i)(B) and before an allocation is made pursuant to Section 5.1(c)(i)(C), any remaining Net Termination Gain shall be allocated 99% to the holders of the Class B Units and 1% to the General
Partners, in accordance with their relative General Partner Percentage Interests, until each such holder of a Class B Unit has been allocated Net Termination Gain equal to any then existing Cumulative Class B Unit Arrearage with respect to such
Class B Unit, and accordingly, notwithstanding anything to the contrary in this Agreement, prior to any distribution under Section 14.3, the Capital Account of each Partner shall be adjusted to give effect to the foregoing liquidation rights.

 c) Voting Rights. The Class B Units will have such voting rights pursuant to the Partnership Agreement as such Class
B Units would have if they were Common Units that were then Outstanding except that, for the purposes of the definition of “Outstanding” such Class B Units shall be deemed to be “Units”, but not “Common Units” for all
purposes thereof. Each Class B Unit will be entitled to one vote on each matter with respect to which such Class B Unit is entitled to be voted.” 
 c) If a GP Removal Event has occurred and any of the Class B Units are converted into Common Units pursuant to Section 4.10(f)(i), then, for the quarter in which such conversion occurs, concurrently with the
distribution made in 

  

 16 

 
accordance with Article V of the Partnership Agreement of Available Cash, with respect to the quarter in which the conversion of the Class B Units is
effected, a distribution shall be paid to each holder of record of the applicable Class B Units as of the effective date of such conversion, with the amount of such distribution for each such Class B Unit to be equal to the product of (a) 25%
of the amount to be distributed in respect of such quarter to each Common Unit times (it being agreed that each such Common Unit issued upon conversion shall be entitled to the full dividend payable to the holder of a Common Unit) (b) a
fraction, of which (i) the numerator is the number of days in such quarter up to but excluding the date of such conversion, and (ii) the denominator is the total number of days in such quarter (the foregoing amount being referred to as an
“Excess Payment”). For the taxable year in which an Excess Payment is made, each holder of a Class B Unit shall be allocated items of gross income with respect to such taxable year in an amount equal to the Excess Payment distributed to it
as provided in Section 5.1(d)(iii)(A). 
 Section 4.13 Change of New York Stock Exchange Rules or Interpretations. If at any
time (i) the rules of the National Securities Exchange on which the Common Units are listed or admitted to trading or the staff interpretations of such rules are changed, or (ii) facts and circumstances arise so that the Conversion
Approval is no longer required as a condition to the listing of the Common Units that would be issued upon any conversion of any Class B Units into Common Units as provided in Section 4.10(f)(i) hereof as determined by the Partnership Policy
Committee (the date that the Partnership Policy Committee makes such determination, the “Conversion Approval Termination Date”) and the Amendment Approval has been obtained, then, unless the provisions of Section 4.12 shall already be
in effect, the terms of such Class B Units will be changed so that each such Class B Unit is converted (without further action or any vote of any securityholders of the Partnership) into one Common Unit (subject to appropriate adjustment in the
event of any split-up, combination or similar event affecting the Common Units). 
 B. Agreement in Effect. Except as hereby amended,
the Partnership Agreement shall remain in full force and effect. 
 C. Applicable Law. This Amendment shall be construed in accordance
with and governed by the laws of the State of Delaware. 
 D. Invalidity of Provisions. If any provision of this Amendment is or
becomes invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not be effected thereby. 
 E. Counterparts. This Amendment may be executed in counterparts, all of which together shall constitute an agreement binding on all parties
thereto, notwithstanding that all such parties are not signatories to the original or the same counterpart. 
  

 17 

	
	 General Partners:

	
	 Northern Plains Natural Gas Company, LLC

	
	   
	 Name:

	 Title:

	
	 Northwest Border Pipeline Company

	
	   
	 Name:

	 Title:

	
	 Pan Border Gas Company, LLC

	
	   
	 Name:

	 Title:

	
	 Limited Partners:

	
	All Limited Partners now and hereafter admitted as limited partner of the Partnership, pursuant to Powers of Attorney now and hereafter executed in favor of, and granted and delivered to, the
Members of the Partnership Policy Committee.
	
	   
	Chairman of the Partnership Policy Committee, as attorney-in-fact for all Limited Partners pursuant to the Powers of Attorney granted in Section 1.4

  

 18 

 ANNEX A 
 1. The following definitions shall be deleted in their entirety from Article II: 
 “Gross General Partner Percentage Interest”;
and 
 “Hypothetical Equity Value”. 
 2.
Section 13.2 shall be amended to read in its entirety as follows: 
 “Section 13.2 Removal of the General Partner.

 The General Partner may be removed if such removal is approved by the Unitholders holding at least 66 2/3% of the Outstanding Units (including for purposes of such determination Units held by the General Partner and its
Affiliates) voting as a single class. Any such action by such holders for removal of the General Partner must also provide for the election of a successor General Partner by the Unitholders holding a majority of the outstanding Common Units voting
as a class (including for purposes of such determination Units held by the General Partner and its Affiliates). Such removal shall be effective immediately following the admission of a successor General Partner. The removal of the General Partner
shall also automatically constitute the removal of the General Partner as general partner or managing member, to the extent applicable, of the Intermediate Partnership and any other Group Members of which the General Partner is a general partner or
managing member. If a Person is elected as a successor General Partner in accordance with the terms of this Section 13.2, such Person shall, upon admission pursuant to Article XII, automatically become a successor general partner or managing
member, to the extent applicable, of the Intermediate Partnership and any other Group Members of which the General Partner is a general partner of a managing member. The right of the holders of Outstanding Units to remove the General Partner shall
not exist or be exercised unless the Partnership has received an opinion opining as to the matters covered by a Withdrawal Opinion of Counsel. Any successor General Partner elected in accordance with the terms of this Section 13.2 shall be
subject to the provisions of Section 12.3.” 
 3. The second paragraph of Section 13.3(a) shall be amended to read in its entirety
as follows: 
 “For purposes of this Section 13.3(a), the fair market value of the Departing Partner’s
Combined Interest shall be determined by agreement between the Departing Partner and its successor or, failing agreement within 30 days after the effective date of such Departing Partner’s departure, by an independent investment banking firm or
other independent expert selected by the Departing Partner and its successor, which, in turn, may rely on other experts, and the determination of which shall be conclusive as to such matter. If such parties cannot agree upon one independent
investment banking firm or other independent expert within 45 days after the effective date of such departure, then the Departing Partner shall designate an independent investment banking firm or other independent expert, the Departing
Partner’s successor shall designate an independent investment banking firm or other independent expert, which third independent investment 

 
banking firm or other independent expert shall determine the fair market value of the Combined Interest of the Departing Partner. In making its
determination, such third independent investment banking firm or other independent expert may consider the then current trading price of Units on any National Securities Exchange on which Units are then listed or admitted to trading, the value of
the Partnership’s assets, the rights and obligations of the Departing Partner and other factors it may deem relevant.” 
 4.
Section 13.3(b) shall be amended to read in its entirety as follows: 
 (b) If the Combined Interest of a Departing Partner is not
acquired by one or more of the remaining General Partners pursuant to Section 11.7(b) or by a successor in the manner set forth in Section 13.3(a), the Departing Partner shall become a Limited Partner and the Combined Interest shall be
converted into Common Units based on the fair market value of such Combined Interest as calculated pursuant to Section 13.3(a) and the Current Market Price of the Common Units as of the effective date of the departure of such Departing Partner.
Any successor General Partner shall indemnify the Departing Partner as to all debts and liabilities of the Partnership arising on or after the date on which the Departing Partner becomes a Limited Partner. For purposes of this Agreement, conversion
of a General Partner’s Partnership Interest as a general partner in the Partnership to Common Units will be characterized as if such General Partner contributed its Partnership Interest to the Partnership in exchange for the newly-issued Common
Units. 
  

 - 20 -Form of Restricted Unit Award Agreement

 Exhibit 10.43 
 RESTRICTED UNIT AWARD AGREEMENT 
 This instrument is issued as of the 19th day of January, 2006, by ONEOK, Inc., an Oklahoma corporation, (hereinafter referred to as “Corporation”), to
«Officer_Name» (hereinafter referred to as “Grantee”), an employee of the Corporation or a division or subsidiary thereof, pursuant to the terms of the ONEOK, Inc. Equity Compensation Plan, effective February 17,
2005, (hereinafter referred to as the “Plan”). 
 1. Restricted Unit Award. This instrument and that certain Notice of
Restricted Unit Award and Agreement, dated January 19, 2006, a copy of which is attached hereto and incorporated herein by reference (the “Notice of Restricted Unit Award and Agreement”) constitute evidence of the issuance and grant
of a Restricted Unit Award to the Grantee by the Corporation under the Plan of «No_of_Restricted_Units» Restricted Units that shall entitle the Grantee to receive shares of the Corporation’s Common Stock (hereinafter
referred to as “Common Stock”) all subject to the terms, provisions, and conditions of this instrument (including, without limitation, the restrictions stated in paragraph 5, below) and of the Plan, which are incorporated herein by
reference (hereinafter referred to as “Award”). This instrument, when executed by the Grantee, together with the Notice of Restricted Unit Award and Agreement constitute an agreement between the Corporation and the Grantee. Notwithstanding
the foregoing, should there be any inconsistency between the provisions of this instrument and the terms of the Award stated in the resolutions and records of the Board of Directors of the Corporation, or the Plan, the provisions of such resolutions
and records and of the Plan shall control. The grant of Restricted Units to the Grantee shall be effective in the manner and to the extent provided in this instrument and the Plan as to all or any part of the shares of Common Stock subject to the
grant from time to time during the period stated herein. 
 2. Plan. The Award is issued pursuant to the Plan, as approved by the
Shareholders of the Corporation, which provides that a specific aggregate number of shares of Common Stock of the Corporation may be issued or transferred pursuant to Stock Incentives under the Plan. The Plan specifies the authority of the
Corporation, its Board of Directors, and a committee of the Board of Directors to select 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 the Award and the grant of the Award made to the Grantee pursuant to the Plan. Except where expressly stated or clearly indicated otherwise by the terms of this instrument, all terms, words and
phrases used herein shall have the same meaning and effect as stated in the Plan. The Grantee has been provided a complete copy of the Plan with this instrument. 
 3. Grantee’s Agreement Concerning Award and Employment. In consideration of the Corporation’s granting the Award of Restricted Units as incentive compensation to Grantee pursuant to this instrument,
the Grantee by acceptance thereof, and signing this instrument evidencing its terms, agrees to such terms and 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 the Plan 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 Acquiring
for Investment. It is intended by the Corporation that the Plan and shares of Common Stock covered by the Award issued and granted to the Grantee referred to in paragraph 1, above, 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 instrument or as otherwise allowed by the Plan. 
 5. Restrictions; Restricted
Period; Transfer of Common Stock to Grantee. The issue and grant of the Award to the Grantee stated in paragraph 1, above, are subject to the following terms and conditions: 
 (a) The ownership and transfer of the Restricted Units granted to the Grantee shall be restricted during the period beginning January 19, 2006, the
date of the grant thereof (hereinafter referred to as “Grant Date”) and ending on January 19, 2009, (which period is hereinafter referred to as “Restricted Period”), as herein provided. 
 (b) The Restricted Units, or any Common Stock or cash to be paid or transferred to Grantee pursuant to the Award may not be sold, assigned, transferred,
pledged, encumbered or otherwise disposed of by Grantee or any other person except as provided in this instrument and the Plan until the expiration of the Restricted Period. 
 (c) The Grantee shall earn and become vested and entitled to the Restricted Units granted by this Award under paragraph 1, above, at the expiration of
the Restricted Period. Upon expiration of the Restricted Period, the Grantee shall be entitled to receive, and the Corporation shall issue to Grantee one (1) share of Common Stock for each Restricted Unit that becomes earned by and vested in
the Grantee pursuant to the Award. 
 (d) The Grantee shall become vested in the Restricted Units granted to the Grantee hereunder and Common
Stock paid and transferred pursuant to the Award free and clear of all restrictions imposed by the Award if the Grantee’s employment by the Corporation (or a division or Subsidiary thereof) does not terminate during the Restricted Period;
provided, that the Grantee shall become partially vested in the Restricted Units and Common Stock payable pursuant to the Award and the restrictions imposed by the Award shall partially cease to apply in certain events to the extent described in
paragraph 6(d), below. 
 (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 
  

 -2- 

 Grantee’s right, title or interest in the Restricted Units, and to any Common Stock payable pursuant to the Award;
and the Grantee shall forfeit such right, title and interest in the Restricted Units, and to any Common Stock payable pursuant to the Award 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 Subsidiary of the Corporation. 
 (f) The Grantee shall not be entitled to vote any shares of Common Stock that may be issued to the Grantee pursuant to the Award prior to the end of the
Restricted Period and actual issuance of such Common Stock to the Grantee pursuant to the Award. 
 (g) No dividends with respect to shares
of Common Stock that may be issued to the Grantee under the Award shall accrue or become payable to the Grantee prior to the end of the Restricted Period and issuance of such Common Stock to Grantee pursuant to the Award. 
 6. Transferability of Restricted Units, Cash or Common Stock; Termination of Employment. 
 (a) Except as provided in subparagraph (b) of this paragraph 6, below, this instrument, the Grantee’s rights and obligations hereunder, and the
Restricted Units 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 Units 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 Units 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 such rights 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 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, above, applicable to the Restricted Units), all rights and interest of the Grantee in the Restricted Units
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). 
  

 -3- 

 (d) Notwithstanding the foregoing provisions, in the event of termination of the Grantee’s
employment with the Corporation (or a division or Subsidiary) during the Restricted Period by reason of (i) the involuntary termination of the Grantee’s employment with the Corporation (or a division or Subsidiary) 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 6(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 Units 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 Restricted 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 the Award to the Grantee and this
instrument, 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 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 instrument and the 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 
  

 -4- 

 the Internal Revenue Code of 1986, as amended (or corresponding section of any future federal tax code), and regulations
thereunder. 
 7. Administration of Restricted Unit Award. The grant of the 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 thereof and the restrictions made applicable to the Grantee and the Restricted Units during the Restricted Period. This instrument
and the rights and obligations of the parties involved, shall be subject to interpretation and construction by the Committee to the same extent and with the same effect as the Committee actions under 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 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 Common Stock that would otherwise be transferred and delivered to the Grantee, with any shares of Common Stock so withheld to be valued at the Fair Market Value (as
defined in 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 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, 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 Restricted Units described in paragraph
1 of this instrument, the number of Restricted Units which the Grantee would have been entitled to if the Grantee had been the fully vested and unrestricted owner of the number of Restricted Units then held under the Award granted, but not
theretofore received without restriction; provided, however, that the additional Restricted Units shall be subject to all terms and provisions of this instrument (including, without limitation, the restrictions stated in paragraph 5, above), and in
making such adjustments, no fractional Restricted Units shall be awarded, and the Grantee shall be entitled to receive only the number of full Restricted Units 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 Units which are the subject matter of the Award evidenced by this instrument 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 Restricted Units described in paragraph 1 of this instrument, by 
  

 -5- 

 increasing or decreasing the number of Restricted Units, as may be required to enable the Grantee to acquire the same
proportionate stockholdings as the grant of the Award would originally have provided. Provided, however, that any additional Restricted Units shall be subject to all terms and provisions of this instrument (including, without limitation, the
restrictions stated in paragraph 5, above), and that in making such adjustments, no fractional Restricted Units shall be awarded, and the Grantee shall be entitled to receive only the number of full Restricted Units 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 Units are
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 the Plan, they 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 Units to the Grantee, then Restricted Units 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 Units become subject to this subparagraph (d), they shall become fully vested in the Grantee and nonforfeitable. Such Restricted
Units are subject to the provisions 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 the Restricted Units, 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 of that term stated in 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 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 instrument, and shall pay all original issue taxes, if any, on the transfer of the Common Stock
to the Grantee and all other fees and expenses necessarily incurred by the Corporation in connection therewith. 
 10. Rights of
Shareholder. Except as otherwise provided in this instrument, the Grantee shall have no rights as a shareholder of the Corporation in respect of the Restricted Units or Common Stock for which the Award is granted; and the Grantee shall not be
considered or treated as a record owner of shares of Common Stock with respect to the Restricted Units until the Common Stock is issued to Grantee and no longer subject to any of the restrictions imposed under the Award indicated in this instrument,
and Common Stock is actually issued and transferred to Grantee. 
  

 -6- 

 11. Entire Agreement. This instrument contains the entire terms of the Award, and may not be
changed orally or other than by a written instrument issued and approved by the Corporation pursuant to the Plan. This instrument supersedes any agreements or understandings that may have previously existed, and there are no other agreements or
understandings, relating to its subject matter. 
 12. Successors and Assigns. The Award evidenced by this instrument shall inure to
the benefit of and be binding upon the heirs, legatees, legal representatives, successors, and assigns of the parties hereto. 
 The Grantee
hereby acknowledges receipt of this instrument, the Notice of Restricted Unit Award Agreement and a copy of the Plan, and accepts the Award under the terms and conditions stated in this instrument, subject to all terms and provisions of the Plan, by
signing this instrument in duplicate originals, as of the date first stated above. 
  

					
	  
	 	 	  	  

	Date	 	 	  	«Officer_Name»
		 		  	Grantee

  

 -7-

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