Document:

EX-4.10

 Exhibit 4.10 

AMENDMENT NO. 9 TO 

ONEOK, INC. 401(K) PLAN 
 (As
amended and restated effective January 1, 2014) 
 1.    Effective January 1, 2019, the first full sentence of
Paragraph 15.A. of Article I is amended in its entirety to remove the “other termination of employment” terms as follows: 

A.    Non-Bargaining Unit Participants. The total annual
base salary plus any lump sum merit pay and promotion awards, gainshare awards, cash incentive compensation, commissions, overtime pay, and shift differentials paid to a Participant by the Company, but excluding amounts credited by the Company under
a plan of deferred compensation to the extent that such notional contributions are not includible in gross income of the Participant for the taxable year in which notionally contributed and excluding compensation paid after a Participant’s
death or other termination of employment. Provided, that any reduction in salary elected and deferred by the Participant under the cash or deferred arrangement of Article III of the Plan, any deferred compensation plan or under Code
Sections 125, 132(f)(4), 402(e)(8) and 457 pursuant to the employee benefit plans of the Company shall be included in determining compensation hereunder. For purposes of this definition incentive compensation shall be treated as paid to a
Participant at the time of actual payment. Provided, further, that the annual compensation of each Participant taken into account under this Plan for any year shall not exceed two hundred sixty thousand dollars ($260,000) in the years beginning
after December 31, 2013, (such two hundred sixty thousand dollars ($260,000) amount to be adjusted to reflect increases in the cost-of-living in accordance with
Code Sections 401(a)(17) and 415(d)). The cost-of-living adjustment in effect for a calendar year applies to any period, not exceeding 12 months, over which compensation
is determined (determination period) beginning in such calendar year. Provided, further, that the annual compensation of each Participant taken into account under Plan shall not exceed $260,000 and such $260,000 amount shall be adjusted to reflect
increases in the cost-of-living in accordance with Code Sections 401(a)(17) and 415(d). 

2.    Effective January 1, 2019, the second full paragraph of Paragraph 3 of Article XV is amended in its entirety as
follows: 
 Except for those authorities and responsibilities which are expressly reserved to the Board of Directors herein, the ONEOK, Inc.
Benefit Plan Sponsor Committee shall possess and exercise all non-fiduciary “settlor” authority to act on behalf of the Company with respect to the Plan. The ONEOK, Inc. Benefit Plan Sponsor
Committee shall consist of the officers designated as members of the ONEOK, Inc. Benefit Plan Sponsor Committee pursuant to the management committees list maintained by the Company’s Corporate Secretary and their respective successors in title
or duties, authority and function. 
 3.    Effective January 1, 2019, the following sentence shall be added to
Paragraph 3 of Article XVII: 

  
 1 

 A distribution to an alternate payee under the Plan shall be made as soon as
administratively practicable following the Plan Administrator’s determination that an order is a Qualified Domestic Relations Order. 

4.    Effective January 1, 2019, Paragraph 1.16 of Article I of Addendum A shall be revised in its entirety as
follows: 
 “Retirement” means the termination of a Participant’s employment with the Company on or after he or she has
attained at least his or her Early Retirement Age or Normal Retirement Age and completed at least five (5) Years of Service. 

5.    Effective January 1, 2020, Paragraph 3 of Article XI is amended to insert the following sentence after the
first full sentence thereof: 
 At the election of the Participant (or his or her Beneficiary), in lieu of an immediate lump sum payment, the
Participant may elect to distribute his or her account balance under a systematic withdrawal plan providing for cash installment payments payable annually, semi-annually, quarterly, monthly or other periodic time period as permitted by the Committee
and as designated by the Participant’s election. 
 6.    Effective January 1, 2020, Article XI Paragraph 13
is amended to add following sentence at the end of the first full paragraph: 
 Notwithstanding the foregoing provisions of this Paragraph
13, except as otherwise required by applicable law, in-kind distributions of ONEOK, Inc. Common Stock and ONE Gas, Inc. common stock are not available for Participants electing systematic withdrawals pursuant
to Paragraph 3 above. 
 7.    Effective January 1, 2020, Paragraph 1 of Article XV is amended in its entirety as
follows: 
 The Plan shall be administered by the ONEOK, Inc. Benefit Plan Administration Committee (the “Committee”) consisting of
the Company’s Chief Financial Officer, the most senior officer with day-to-day responsibility for the Human Resources function, the most senior officer with day-to-day responsibility for the Treasury function, and each of their respective successors in title or duties, authority and function. The Company’s Chief Financial
Officer shall serve as Chair of the Committee and may appoint additional members to such Committee, in his sole discretion. Each of the members of the Committee may from time to time designate an alternate who shall have full power to act in his/her
absence or inability to act. Members of the Committee may participate in the benefits under the Plan provided they are otherwise eligible to do so. Except as otherwise provided by the Board of Directors, no member of the Committee shall receive any
compensation for his/her services as such. No bond or other security shall be required of any member of the Committee in such capacity in any jurisdiction. In the absence of the Chairman of the Committee, the alternate designated by the Chairman
shall preside at the meetings of the Committee. The Committee shall serve as the plan administrator within the meaning of Section 3(16)(A) of ERISA. 

  
 2ex_183023.htm

Exhibit 10.1

 

 

PORTIONS OF THIS EXHIBIT MARKED BY [**] HAVE BEEN OMITTED PURSUANT TO RULE 601(B)(10) OF REGULATION S-K. THE OMITTED INFORMATION IS (I) NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED.

 

 

Amendment No. 1

To

Fuel Sales Agreement

 

 

This Amendment (this “Amendment”), made as of April 22, 2020 (the “Amendment Effective Date”), by and Gevo, Inc., a Delaware corporation (“Seller”), and Delta Air Lines, Inc., a Delaware corporation (“Buyer”), amends the Fuel Sales Agreement dated as of December 11, 2019 (the “Agreement”). Each of Seller and Buyer is referred to in this Amendment as a “Party” and collectively are referred to herein as the “Parties.” Capitalized terms not otherwise defined in this Agreement shall have the respective meanings assigned to them in the Agreement.

 

NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree to amend the Agreement as follows:

 

	
			1.

				
			Section 3.3 of the Agreement is hereby amended by replacing “March 1, 2023” with “June 30, 2024”.

			

 

	
			2.

				
			The following is hereby added as a new Section 3.5:

			

 

	 	
			“3.5

				
			Notwithstanding any contrary provision hereof, if as of the Commencement Notice Date,  the Brent Crude Price is less than $[**], Buyer shall have the right to notify Seller that Buyer is electing to eliminate the take or pay requirements of this Agreement (any such notice, a “Delivery Modification Notice”). Any Delivery Modification Notice issued by Buyer must be delivered to Seller no later than ten (10) days after Buyer’s receipt of Seller’s notice specifying the Commencement Date, after which time Buyer’s right to furnish a Delivery Modification Notice shall expire and the Agreement shall continue in full force and effect pursuant to its terms. If Buyer timely delivers a Delivery Modification Notice to Seller, then for the duration of the term of this Agreement (i) Buyer shall have the right, but not the obligation, to request from time to time that Seller sell Fuel to Buyer at a price to be mutually agreed by the Parties (it being understood that the pricing set forth in Section 5.2 shall not apply) and otherwise on the terms and subject to the conditions set forth herein, (ii) if so requested by Buyer, Seller shall only be obligated to sell Fuel to Buyer on an As Available Basis and Seller shall have no liability whatsoever if for any reason Buyer requests Fuel from Seller but Seller does not supply such Fuel, (iii) Seller shall be free to sell any and all Fuel from Seller’s Facility to third parties without any restrictions or obligations to Buyer whatsoever, and (iv) all of the terms and conditions in this Agreement pertaining to the take or pay nature of the Agreement, including the Minimum Annual Contract Quantity, shall be null and void or modified, as appropriate, mutatis mutandis, to reflect the foregoing.”

			

 

	
			3.

				
			Section 5.2 of the Agreement is hereby deleted in its entirety and replaced with the following:

			

 

	 	
			“5.2

				
			Pricing shall be determined based on the Brent Crude Price as of the Commencement Notice Date, as per the table below.

			

 

	
			Brent Crude Price (Commencement Notice Date)

				
			Neat Price (Seller’s Facility)

			
	
			Between $[**]/bbl and $[**]/bbl

				
			$[**] per gallon

			
	
			Over $[**]/bbl

				
			$[**] per gallon”

			

 

 

	
			4.

				
			Section 5.6 of the Agreement is hereby deleted in its entirety and replaced with the following:

			

 

	 	
			“5.6

				
			Prior to Financial Closing, upon the request of Seller the Parties shall work together in good faith for up to sixty (60) Days to agree on reasonable credit support terms with the sole purpose of securing Financing through Seller’s Lenders. If, after such sixty (60) Day period, the Parties are unable to agree on reasonable credit support terms mutually acceptable to Buyer, Seller and Seller’s Lenders, Seller shall have the right, at any time prior to Financial Closing, to terminate this Agreement upon twenty (20) days’ written notice to Buyer. If Seller terminates this Agreement pursuant to this Section 5.6, this Agreement shall forthwith be of no further force or effect and neither Party shall have any liability to the other hereunder.”

			

 

	
			5.

				
			The following defined terms are added to the definitions contained in Annex I, Section 1:

			

 

“As Available Basis” means that Seller, in its sole discretion, has Fuel available for sale from Seller’s Facility for supply to Buyer. 

 

“Brent Crude Price” means the trailing three (3) month average (Globex:CSX) of the prompt-month’s future price of Brent crude in dollars per barrel measured as of the Commencement Notice Date.

 

“Commencement Notice Date” means the date that Seller provides Buyer with sixty (60) days’ prior written notice of the Commencement Date pursuant to Section 3.2(a).

 

“Financial Closing” means the earlier of: (a) the date upon which funds are available for distribution by the Lenders to Seller under the initial Financing for the construction of Seller’s Facility; and (b) the date upon which Seller has issued a notice to proceed to commence with construction of Seller’s Facility.

 

“Financing” means each construction, interim, long-term debt or equity financing, refinancing, and/or credit support arrangement related to all or a portion of the development, construction, or operation of Seller’s Facility.

 

“Lender” means any Person or agent or trustee of such Person who agrees to provide Financing to Seller’s Facility.

 

	
			6.

				
			Annex III – Credit Support Requirements, together with its Exhibits and Annexes, is hereby deleted in its entirety.

			

 

	
			7.

				
			Section 12.1(e) of Annex 1 to the Agreement is hereby deleted in its entirety.

			

 

	
			8.

				
			The last sentence of Section 12.2 of Annex 1 to the Agreement is hereby revised as follows: “For clarity, this shall non-exhaustively include the right to forthwith terminate the Agreement and/or any Location Agreement on written notice to the Defaulting Party.”

			

 

	
			9.

				
			This Amendment: (a) constitutes the entire agreement between the parties with respect to the amendment(s) set forth herein and supersedes all prior understandings, agreements, written or oral, between the parties relating thereto; and (b) shall prevail over any conflicting terms and conditions in the Agreement. Except to the extent amended hereby, the Agreement shall be and remain in full force and effect.

			

 

[Remainder of Page Intentionally Left Blank]

 

 

 

IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their duly authorized representatives as of the Amendment Effective Date.

 

 

	
			Gevo, Inc.

				 	
			Delta Air Lines, Inc.

			
	
			 

			By

				
			 

			/s/ Timothy J. Cesarek

				 	
			 

			By

				
			 

			/s/ Matt O’Mahoney

			
	
			 

			Name

				
			 

			Timothy J. Cesarek

				 	
			 

			Name

				
			 

			Matt O’Mahoney

			
	
			 

			Title

				
			

			Chief Commercial Officer

				 	
			 

			Title

				
			 

			Managing Director – Jet Fuel Procurement

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