Document:

Supplemental Executive Retirement Plan

  
 Exhibit 10.2

  
 ONEOK, INC. 
  
 2005 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
  
 January 1, 2005 
  

  
 ONEOK, INC.

 2005 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
  
 Table of Contents 
  

					
	 	    	 	  	Page

	 PURPOSE
	    	 1
	  	 
		
	 PART A EXCESS RETIREMENT BENEFITS
	  	1
		
	 ARTICLE I PURPOSE AND SCOPE OF PART A
	  	1
		
	 ARTICLE II ELIGIBILITY AND PARTICIPATION
	  	1
			
	 2.1
	    	 Eligibility for Selection
	  	1
			
	 2.2
	    	 Selection of Part A Participants in the Plan
	  	2
			
	 2.3
	    	 Scope of Part A Participation
	  	2
			
	 2.4
	    	 Election to Defer Compensation
	  	2
		
	 ARTICLE III EXCESS RETIREMENT BENEFIT
	  	3
			
	 3.1
	    	 Excess Retirement Benefit
	  	3
			
	 3.2
	    	 Payment of Excess Retirement Benefit
	  	3
			
	 3.3
	    	 Subsequent Elections; Deferred SERP Benefit Commencement Date
	  	4
			
	 3.4
	    	 Vesting of Excess Retirement Benefit
	  	5
			
	 3.5
	    	 Disability
	  	5
			
	 3.6
	    	 Death
	  	5
			
	 3.7
	    	 Nonqualified Deferred Compensation Plan Requirements
	  	5
		
	 ARTICLE IV BENEFICIARY
	  	5
		
	 ARTICLE V LEAVE OF ABSENCE
	  	5
		
	 ARTICLE VI ADMINISTRATION OF PART A OF THE PLAN
	  	5
		
	 PART B SUPPLEMENTAL RETIREMENT BENEFITS
	  	6
		
	 ARTICLE I PURPOSE AND SCOPE OF PART B
	  	6
		
	 ARTICLE II ELIGIBILITY AND PARTICIPATION
	  	6
			
	 2.1
	    	 Eligibility for Selection
	  	6
			
	 2.2
	    	 Selection of Part B Participants in the Plan
	  	6
			
	 2.3
	    	 Scope of Part B Participation
	  	7
			
	 2.4
	    	 Documents, Forms, Confirming Participation and Benefits
	  	7
			
	 2.5
	    	 Election to Defer Compensation
	  	7
		
	 ARTICLE III SUPPLEMENTAL RETIREMENT BENEFIT
	  	7
			
	 3.1
	    	 Supplemental Retirement Benefit
	  	7
			
	 3.2
	    	 Payment of Supplemental Retirement Benefit
	  	10
			
	 3.3
	    	 Subsequent Elections; Deferred SERP Benefit Commencement Date
	  	11
			
	 3.4
	    	 Vesting of Supplemental Retirement Benefit
	  	11

  

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	 3.5
	    	 Forfeitability of Retirement Benefit
	  	12
			
	 3.6
	    	 Death of Part B Participant
	  	12
		
	 3.7 In the event of the death of a Part B Participant prior to Retirement, an amount equal to fifty-five percent (55%) of his/her vested Supplemental
Retirement Benefit shall be paid to his/her Beneficiary in the form and at the time his/her Retirement Plan Benefit is paid after his/her death. Nonqualified Deferred Compensation Plan Requirements. Notwithstanding anything to the contrary
expressed or implied herein, the deferral of all Compensation under this Plan shall be subject to the requirements set forth in Article XI, Section 11.1 of Part C of the Plan.
	  	12
		
	 ARTICLE IV BENEFICIARY
	  	12
		
	 ARTICLE V SUPPLEMENTAL RETIREMENT BENEFIT ADJUSTMENTS
	  	12
		
	 ARTICLE VI LEAVE OF ABSENCE
	  	12
		
	 ARTICLE VII ADMINISTRATION OF PART B OF THE PLAN
	  	12
		
	 PART C PLAN ADMINISTRATION AND MISCELLANEOUS PROVISIONS
	  	13
		
	 ARTICLE I PURPOSE AND SCOPE OF PART C
	  	13
		
	 ARTICLE II DEFINITIONS AND CONSTRUCTION
	  	13
			
	 2.1
	    	 Definitions
	  	13
			
	 2.2
	    	 Construction
	  	18
			
	 2.3
	    	 Plan Purpose
	  	18
		
	 ARTICLE III COMMITTEE
	  	18
			
	 3.1
	    	 Appointment of Committee
	  	18
			
	 3.2
	    	 Committee Officials
	  	19
			
	 3.3
	    	 Committee Action
	  	19
			
	 3.4
	    	 Committee Rules and Powers
	  	19
			
	 3.5
	    	 Reliance on Certificates, etc.
	  	19
			
	 3.6
	    	 Liability of Committee
	  	19
			
	 3.7
	    	 Determination of Benefits
	  	20
			
	 3.8
	    	 Information to Committee
	  	20
		
	 ARTICLE IV ADOPTION OF PLAN BY SUBSIDIARY, AFFILIATED OR ASSOCIATED COMPANIES
	  	20
		
	 ARTICLE V SOURCE OF BENEFITS
	  	20
			
	 5.1
	    	 Benefits Payable
	  	20
			
	 5.2
	    	 Investments to Facilitate Payment of Benefits
	  	20
			
	 5.3
	    	 Ownership of Insurance Contracts
	  	21
			
	 5.4
	    	 Trust for Payment of Supplemental Retirement Benefits
	  	21
		
	 ARTICLE VI TERMINATION OF EMPLOYMENT
	  	22
		
	 ARTICLE VII TERMINATION OF PARTICIPATION
	  	22
		
	 ARTICLE VIII TERMINATION, AMENDMENT, MODIFICATION, OR SUPPLEMENT OF THE PLAN
	  	22
			
	 8.1
	    	 Amendment or Termination
	  	22

  

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	 8.2
	    	 Rights and Obligations Upon Amendment, Termination
	  	23
		
	 ARTICLE IX TREATMENT OF BENEFITS
	  	24
		
	 ARTICLE X RESTRICTIONS ON ALIENATION OF BENEFITS
	  	24
		
	 ARTICLE XI MISCELLANEOUS
	  	24
			
	 11.1
	    	 Deferral of Compensation Requirements
	  	24
			
	 11.2
	    	 Execution of Receipts and Releases
	  	25
			
	 11.3
	    	 No Guarantee of Interests
	  	25
			
	 11.4
	    	 Company Records
	  	25
			
	 11.5
	    	 Evidence
	  	26
			
	 11.6
	    	 Notice
	  	26
			
	 11.7
	    	 Change of Address
	  	26
			
	 11.8
	    	 Effect of Provisions
	  	26
			
	 11.9
	    	 Headings
	  	26
			
	 11.10
	    	 Governing Law
	  	26
			
	 11.11
	    	 Effective Date
	  	27

  

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 ONEOK, INC.

 2005 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
  
 PURPOSE 
  
 The purpose of the ONEOK, Inc. 2005 Supplemental Executive Retirement Plan is to provide the specified benefits to employees who are in a select group of
management or highly compensated employees who contribute materially to the continued growth, development and future business success of ONEOK, Inc., and its subsidiaries, effective January 1, 2005. It is the intention of ONEOK, Inc. that the Plan
and the particular benefits provided to individuals hereunder be administered as an unfunded deferred compensation and excess benefit plans established and maintained for a select group of management or highly compensated employees. 
  
 This Plan is a new and separate plan, and except as otherwise expressly
provided herein, is not a continuation, successor plan to, or an amendment or restatement of the preexisting and separate ONEOK, Inc. Supplemental Executive Retirement Plan, as terminated and frozen pursuant to the terms thereof, effective December
31, 2004 (hereinafter referred to as the “Prior Frozen SERP”). It is intended that no individual shall be entitled to benefit under the both the Prior Frozen SERP and this Plan. 
  
 The Plan is intended to meet all requirements of Section 409A of the Code for compensation deferred under the Plan to not be
includible in gross income of the Participant until actually paid or distributed pursuant to the Plan. 
  
 PART A EXCESS RETIREMENT BENEFITS 
  
 ARTICLE I 
 PURPOSE AND SCOPE OF PART A 
  
 The provisions of Part A of the Plan shall establish and provide excess
retirement benefits to Employees of the Company who are (i) in a select group of management or highly compensated employees of the Company within the meaning of Sections 201(a)(7), 301(a)(9) and 401(a)(1) of ERISA, and (ii) selected to participate
in Excess Retirement Benefits pursuant to the terms and provisions of this Part A of the Plan. The Excess Retirement Benefits provided to participants under Part A of the Plan are separate and independent from Supplemental Retirement Benefits
provided under Part B of the Plan. 
  
 ARTICLE II

 ELIGIBILITY AND PARTICIPATION 
  

	2.1	Eligibility for Selection. 

  
 In order to be eligible to be selected as a Part A Participant in the Plan pursuant to Section 2.2 of this Article II, below, an Employee must be in a
select group of management or highly compensated employees of the Company, as determined by the Chief Executive Officer, or the Committee in the case of the Chief Executive Officer, in the Chief Executive Officer’s (or Committee’s, as
applicable)sole and absolute discretion. 
  

 An eligible Employee may become a Part A Participant in the Plan only by being selected for participation
pursuant to Section 2.2 of this Article II, below. 
  

	2.2	Selection of Part A Participants in the Plan. In order to participate in Part A of the Plan an eligible Employee must also be specifically selected by the Chief Executive
Officer, or in the case of the Chief Executive Officer, by the Committee, to be a Part A Participant in the Plan, with such selection to be in the Chief Executive Officer’s (or Committee’s, as applicable) sole and absolute discretion. It
is not intended by the Plan that every eligible Employee is required to be, or necessarily will be selected to be a Part A Participant in the Plan, and an eligible Employee who is not selected to be a Part A Participant pursuant to this Section 2.2,
shall not be entitled to any benefit or payment under Part A of the Plan. The selection of any eligible Employee to be a Part A Participant in the Plan by the Chief Executive Officer/Committee, shall be confirmed in writing by a written instrument
and/or memorandum in such form as is prescribed by the Committee which shall be maintained in the records of the Company. 

  
 Provided, that no Employee who is a participant in the Prior Frozen SERP or entitled to receive any benefit or payment under the Prior Frozen SERP shall
be selected to be a Part A Participant in the Plan; and it may be made a condition to the selection of an eligible Employee as a Part A Participant that such Employee shall have elected in writing to completely terminate his/her participation in the
Prior Frozen SERP and waive all his/her entitlement to any benefit or payment under the Prior Frozen SERP; and notwithstanding anything otherwise provided herein, any eligible Employee who becomes a Part A Participant shall be deemed to consent and
agree that his/her participation in Part A of the Plan shall supersede and cancel any entitlement he/she had to any benefit or payment under the Prior Frozen SERP. 
  

	2.3	Scope of Part A Participation. An Employee who is eligible and is selected to be a Part A Participant in the Plan shall, as a Part A Participant, be entitled solely to
the rights and benefits provided under the terms of Part A of the Plan, and such eligibility and selection shall not entitle such Employee to participate in Part B of the Plan or to receive benefits thereunder; provided, that an Employee who is an
Officer of the Company may be selected to be a Part A Participant and a Part B Participant under the Plan. 

  

	2.4	 Election to Defer Compensation. Each Employee/Officer who becomes a Part A Participant in the Plan shall be required to sign and deliver to the Committee, or
its designee, a written Election related to the payment of his/her Excess Retirement Benefit at the time or times specified by the Plan, including any voluntary or deemed Subsequent Elections that occur pursuant to the Plan subsequent to his/her
Initial Participation Date. The written Election of a Part A Participant shall be made on or before the expiration of thirty (30) days after the Initial Participation Date of such Part A Participant, and if or to the extent any Part A Participant
shall fail to sign and deliver such a written Election within that time and in the manner prescribed by the Committee he/she shall nevertheless be considered for all purposes, by reason of his/her participation in the Plan, to have made an Election
at his/her Initial Participation Date to defer Compensation in the manner provided for in the Plan, and to have elected, agreed and consented to, and to make any elections, whether upon his/her Initial Participation Date or thereafter in 

  

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accordance with and subject to the terms and provisions of the Plan, including without limitation, any Subsequent Elections as provided for pursuant to
Article III of this Part A, below. 

  
 ARTICLE
III 
 EXCESS RETIREMENT BENEFIT 
  

	3.1	Excess Retirement Benefit. The Company shall pay to each Part A Participant the vested Excess Retirement Benefit attributable to a Part A Participant’s annual eligible
compensation under the Retirement Plan that is in excess of the limitations on such Part A Participant’s Retirement Plan benefits contained in Code Sections 401(a)(17) and 415(b). The Excess Retirement Benefit will be computed by applying the
same benefit formula, vesting provisions, and early retirement provisions as are in and apply to the Part A Participant’s Retirement Plan Benefit under the Retirement Plan. 

  

	3.2	Payment of Excess Retirement Benefit. A. Subject to paragraphs B, C, D and E of this Section 3.2, below, the Excess Retirement Benefit shall be paid to the Part A Participant
entitled thereto or his/her Beneficiary, commencing on his/her Normal SERP Benefit Commencement Date, and thereafter at the same time and in the same form of benefit, and actuarially adjusted to the same extent, as the corresponding Retirement Plan
Benefit of such Part A Participant (or Beneficiary, if applicable) is paid under the Retirement Plan. 

  
 B. Provided, that except in the case of and to the extent of a Key Employee Required Deferral, a Part A Participant shall be entitled to
make a Subsequent Election to change the date of distribution and payment of his/her Excess Retirement Benefit from his/her Normal SERP Benefit Commencement Date to the Deferred SERP Benefit Commencement Date resulting from such election, if:

  
 (i) he/she does not commence receiving payment of his/her
Retirement Plan Benefit on or before his/her Normal SERP Benefit Commencement Date, 
  
 (ii) he/she makes a corresponding Subsequent Election with respect to the Supplemental Retirement Benefit, if any, he/she is entitled to under Part B of the Plan, and 
  
 (iii) he/she delivers a written notification of such Subsequent Election to
the Committee,  , or its designee, in the form it prescribes, not less than twelve (12) months prior to his/her Normal SERP Benefit Commencement Date. 
  
 The Committee, in its discretion, may allow a Part A Participant to make a Subsequent Election as to any Deferred SERP
Benefit Commencement Date established for the payment of his/her Excess Retirement Benefit under and subject to the same conditions and requirements as set forth above in this paragraph 3.2.B. 
  
 Provided, that notwithstanding the foregoing, a Subsequent Election deferral
will always occur pursuant to a Part A Participant’s initial Election in any case in which he/she does not commence receiving his/her Retirement Plan Benefit on his/her Normal SERP Benefit Commencement Date, or on or before a Deferred SERP
Benefit Commencement 

  

 - 3 - 

 
Date, in accordance with paragraph D of this Section 3.2, below, notwithstanding that no other written notification is delivered by him/her pursuant to the
foregoing provisions. 
  
 C. Notwithstanding
anything otherwise provided in the Plan or in any Election or Subsequent Election of a Part A Participant, any Subsequent Election made under the Plan shall result in the first payment with respect to which such Subsequent Election is made being
deferred for a period of five (5) years from the date such payment would otherwise have been made; the payment and distribution of any Excess Retirement Benefit and any Supplemental Retirement Benefit to which a Part A Participant is entitled under
the Plan shall in all cases be made simultaneously; and the payment and distribution of such Excess Retirement Benefit and Supplemental Retirement Benefit shall in no case commence or be made prior to the commencement of payment of such Part A
Participant’s Retirement Plan Benefit. 
  
 D. Provided, further, that if the payment of the Retirement Plan Benefit to which a Part A Participant is entitled for any reason does not commence on or before his/her Normal SERP Benefit Commencement Date, or a then existing Deferred SERP
Benefit Commencement Date established for such Part A Participant under the Plan, then in such event, subject to compliance with all nonqualified deferred compensation plan requirements governing the Plan under Section 3.7, below, such Part A
Participant’s initial Election shall be followed and shall be deemed for all purposes to be a Subsequent Election and to change the date of distribution and payment of his/her Excess Retirement Benefit to a subsequent Deferred SERP Benefit
Commencement Date resulting from such Subsequent Election. 
  
 E. If a Part A Participant does not commence receiving his Retirement Plan Benefit on his Normal SERP Benefit Commencement Date, and a Deferred SERP Benefit Commencement Date is established for the payment of his/her
Excess Retirement Benefit, then upon commencement of payment of his/her Excess Retirement Benefit on a Deferred SERP Benefit Commencement Date such Part A Participant shall be entitled to receive an Excess Retirement Benefit Catch-Up Payment on that
Deferred SERP Benefit Commencement Date, if an to the extent the payment of his/her Retirement Plan Benefit has commenced prior to such Deferred SERP Benefit Commencement Date. 
  
 F. If a Part A Participant is a Key Employee his/her Excess Retirement Benefit shall not commence being paid
until after the end of the Key Employee Required Deferral Period. In such a case the Part A Participant shall receive a Key Employee Catch-Up Payment at the end of the Key Employee Required Deferral Period and thereafter receive Excess Retirement
Benefit monthly payments in accordance with the Plan. 
  

	3.3	Subsequent Elections; Deferred SERP Benefit Commencement Date. Notwithstanding anything to the contrary provided herein, if a Part A Participant makes a Subsequent Election
or is deemed to have made a Subsequent Election to change the time of distribution or payment of such Part A Participant’s Excess Retirement Benefit the Subsequent Election shall result in a Deferred SERP Benefit Commencement Date being
established for such Part A Participant based upon the time of such Subsequent Election. 

  

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 A Part A Participant’s initial Election shall include his/her consent and agreement, to all terms
and provisions of the Plan with respect to any Subsequent Election and the effect thereof with respect to the time and form of payment of any Excess Retirement Benefit he/she is entitled to receive under the Plan. 
  

	3.4	Vesting of Excess Retirement Benefit. A Part A Participant’s Excess Retirement Benefit shall unconditionally vest in such Participant and become nonforfeitable upon such
Part A Participant’s completion of five (5) Years of Service; provided, that the Excess Retirement Benefit shall not be vested and nonforfeitable upon Retirement if the Group A Participant has not completed five (5) Years of Service.

  

	3.5	Disability. If a Part A Participant shall become Totally and Permanently Disabled prior to Retirement and such total disability continues for more than six (6) months, such
Participant shall be entitled to receive an Excess Retirement Benefit in the form and at the time he/she is entitled to his/her Retirement Plan Benefit. 

  

	3.6	Death. In event of the death of a Part A Participant prior to his/her Retirement, the Excess Retirement Benefit of such Part A Participant shall be paid in the form and at
the time his/her Retirement Plan Benefit is paid to his/her Beneficiary after his/her death. 

  

	3.7	Nonqualified Deferred Compensation Plan Requirements. Notwithstanding anything to the contrary expressed or implied herein, the deferral of all Compensation under this Plan
shall be subject to the requirements set forth in Article XI, Section 11.1 of Part C of the Plan. 

  
 ARTICLE IV 
 BENEFICIARY 
  
 The Beneficiary of a Part A Participant’s Excess Retirement Benefit
shall be the beneficiary of such Part A Participant’s corresponding Retirement Plan Benefit. 
  
 ARTICLE V 
 LEAVE OF ABSENCE 
  
 If a Part A Participant is authorized by the Company for any reason,
including military, medical, or other, to take a leave of absence from employment, such Part A Participant’s participation in Part A of the Plan shall remain in effect. 
  
 ARTICLE VI 
 ADMINISTRATION OF PART A OF THE PLAN 
  
 Except as
otherwise expressly provided herein, this Part A of the Plan shall be administered pursuant to the provisions of Part C of the Plan. 
  

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 PART B SUPPLEMENTAL
RETIREMENT BENEFITS 
  
 ARTICLE I 
 PURPOSE AND SCOPE OF PART B 
  
 The provisions of Part B of the Plan shall establish and provide supplemental retirement benefits to employees who are (i) in a select group of management
or highly compensated employees of the Company within the meaning of Sections 201(a)(2), 301(a)(3) and 401(a)(1) of ERISA, (ii) Officers of the Company, and (iii) selected to participate in and receive Supplemental Retirement Benefits pursuant to
the terms and provisions of this Part B of the Plan. The Supplemental Retirement Benefits provided to participants under Part B of the Plan are separate and independent from Excess Retirement Benefits provided under Part A of the Plan. 

 
 ARTICLE II 
 ELIGIBILITY AND PARTICIPATION 
  

	2.1	Eligibility for Selection. In order to be eligible to be selected as a Part B Participant in the Plan, pursuant to Section 2.2 of this Article II, below, an Employee
must be an Officer of the Company, who is in a select group of management or highly compensated employees of the Company, as determined by the Chief Executive Officer, or in the case of the Chief Executive Officer, by the Committee, in the Chief
Executive Officer’s (or Committee’s, as applicable) sole and absolute discretion. An eligible Employee/Officer may become a Part B Participant in the Plan only by being selected pursuant to Section 2.2 of this Article II, below.

  

	2.2	Selection of Part B Participants in the Plan. In order to participate in Part B of the Plan an eligible Employee/Officer must also be specifically selected by the
Chief Executive Officer, or in the case of the Chief Executive Officer, by the Committee, to be a Part B Participant in the Plan., with such selection to be in the Chief Executive Officer’s (or Committee’s, as applicable) sole and absolute
discretion. It is not intended by the Plan that every eligible Employee/Officer is required to be, or necessarily will be selected to be a Part B Participant in the Plan, and an eligible Employee/Officer who is not selected to be a Part B
Participant in the Plan, pursuant to this Section 2.2 shall not be entitled to any benefit or payment under Part B of the Plan. An Employee/Officer is who is so selected, shall, as a condition to participation, complete and return to the Committee a
duly executed written instrument confirming his/her participation in Part B of the Plan under the terms and conditions thereof, at the time and in the form prescribed by the Committee. 

  
 Provided, that no Employee/Officer, and who is a participant in the Prior
Frozen SERP or entitled to receive any benefit or payment under the Prior Frozen SERP shall be selected to be a Part B Participant in the Plan; and it may be made a condition to the selection of an eligible Employee/Officer to be a Part B
Participant that he/she shall have elected in writing to completely terminate his/her participation in the Prior Frozen SERP and waive all his/her entitlement to any benefit or payment under the Prior Frozen SERP; and notwithstanding anything
otherwise provided herein, any eligible Employee/Officer who becomes a Part B Participant shall be deemed to consent to and agree that his/her 

  

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participation in Part B of the Plan shall supersede and cancel any entitlement he/she had to any benefit or payment under the Prior Frozen SERP. 

 

	2.3	Scope of Part B Participation. An Employee/Officer who is eligible and is selected to be a Part B Participant in the Plan shall as a Part B Participant be entitled solely to
the rights and benefits provided under Part B of the Plan, and such eligibility and participation shall not entitle such Employee/Officer to participate in Part A of the Plan or receive any benefit thereunder; provided, that an Employee/Officer may
become a Part B Participant and a Part A Participant under the Plan. 

  

	2.4	Documents, Forms, Confirming Participation and Benefits. An Employee/Officer’s participation in Part B of the Plan may be confirmed in writing in one or more
written instruments in such form as the Committee, in its sole discretion, prescribes, and which may, without limitation, include written forms, agreements or other instruments made or signed to confirm that an Employee/Officer acknowledges and
accepts the terms and provisions of the Plan, or to confirm adjustments in determination of a Part B Participant’s Supplemental Retirement Benefit pursuant to Article V of Part B of the Plan. 

  

	2.5	Election to Defer Compensation. Each Employee/Officer who becomes a Part B Participant in the Plan shall be required to sign and deliver to the Committee, or its designee, a
written Election related to the payment of his/her Supplemental Retirement Benefit at the time or times specified by the Plan, including any voluntary or deemed Subsequent Elections that occur pursuant to the Plan subsequent to his/her Initial
Participation Deferral Date. The written Election of a Part B Participant shall be made on or before the expiration of thirty (30) days after the Initial Participation Date of such Part A Participant, and if or to the extent any Part B Participant
shall fail to sign and deliver such written Election within that time and in the manner prescribed by the Committee he/she shall nevertheless be considered for all purposes, by reason of his/her participation in the Plan, to have made an Election at
his/her Initial Participation Date to defer compensation in the manner provided for in the Plan, and to have elected, agreed and consented to, and to have made any elections, whether upon his/her Initial Participation Date or thereafter in
accordance with and subject to the terms and provisions of the Plan, including without limitation, any Subsequent Elections, as provided for pursuant to Article III of this Part B, below. 

  
 ARTICLE III 
 SUPPLEMENTAL RETIREMENT BENEFIT 
  

	3.1	Supplemental Retirement Benefit. 

  
 A. General. Subject to Section 3.1.D. of this Article III, below, the Company shall pay or cause to be paid to such Part B
Participant a Supplemental Retirement Benefit, which shall be a monthly amount which when combined with the Retirement Plan Benefit and existing pension benefits payable to the Part B Participant under the Retirement Plan and any retirement plans
(other than 401(k) plans) of any of the Part B Participant’s former employers, will be equal to the product of the Part B Participant’s 

  

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Final Average Earnings, multiplied by the Part B Participant’s Benefit Factor Percentage at his/her Retirement under the Table in Section 3.1.B. of this
Article III, below, and then multiplied by the Part B Participant’s Service Factor Percentage at his/her Retirement under the Table in Section 3.1.C. of this Article III, below; subject to adjustment and reduction, if applicable, pursuant to
Section 3.1.E. of this Article III, below. 
  
 If
an executed Plan Agreement by and between the Part B Participant and the Company is not executed, or an executed Plan Agreement of a Part B Participant does not state or specify a different amount, form and time of payment of a Part B
Participant’s Supplemental Retirement Benefit, then the Part B Participant shall be entitled to receive a Supplemental Retirement Benefit in accordance with this Section 3.1. 
  
 B. Benefit Factor Percentage. A Part B Participant’s Benefit Factor Percentage shall be based
upon his/her age at his/her Retirement, as follows: 
  

			
	 Retirement Age

	  	 Benefit Factor Percentage

	 50 & under
	  	50%
	 51
	  	51%
	 52
	  	52%
	 53
	  	53%
	 54
	  	54%
	 55
	  	55%
	 56
	  	56%
	 57
	  	57%
	 58
	  	58%
	 59
	  	58.5%
	 60
	  	59%
	 61
	  	59.5%
	 62
	  	60%
	 63
	  	60%
	 64
	  	60%
	 65 & over
	  	60%

  
 C.
Service Factor Percentage. A Part B Participant’s Service Factor Percentage shall be based upon his/her completed Years of Service at his/her Retirement, as follows: 
  

			
	 Years of Service

	  	 Service Factor Percentage

	 1
	  	5%
	 2
	  	10%
	 3
	  	15%
	 4
	  	20%
	 5
	  	25%
	 6
	  	30%
	 7
	  	35%

  

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	 Years of Service

	  	 Service Factor
 Percentage

	 8
	  	40%
	 9
	  	45%
	 10
	  	50%
	 11
	  	55%
	 12
	  	60%
	 13
	  	65%
	 14
	  	70%
	 15
	  	75%
	 16
	  	80%
	 17
	  	85%
	 18
	  	90%
	 19
	  	95%
	 20 & over
	  	100%

  
 D.
Excess Retirement Benefit Offset. If a Part B Participant is also a Part A Participant under the Plan and entitled to receive an Excess Retirement Benefit under Part A of the Plan, the Supplemental Retirement Benefit of such Part B
Participant shall be offset and reduced by an amount equal to such Excess Retirement Benefit, whichever is payable to such Part B Participant pursuant to Part A of the Plan. 
  
 E. Adjustment of Retirement Benefit Payments; Early Commencement. The amount of a Part B
Participant’s Supplemental Retirement Benefit payments will be reduced by reason of early commencement of payment thereof, based on the following table depending upon the Part B Participant’s age when Supplemental Retirement Benefit
payments to the Part B Participant commence: 
  

			
	 Part B Participant
 Age At Commencement

	  	 Early Commencement
 Reduced
 Payout Percentage Factor

	 Under 50
	  	0
	 50
	  	50%
	 51
	  	55%
	 52
	  	60%
	 53
	  	65%
	 54
	  	70%
	 55
	  	75%
	 56
	  	80%
	 57
	  	85%
	 58
	  	90%
	 59
	  	95%
	 60
	  	97%
	 61
	  	99%
	 62 & over
	  	100%

  

 - 9 - 

	3.2	Payment of Supplemental Retirement Benefit. A. Subject to paragraphs B, C, D and E of this Section 3.2, below, the Supplemental Retirement Benefit shall be paid to the Part B
Participant entitled thereto or his/her Beneficiary, commencing on his/her Normal SERP Benefit Commencement Date, at the same time and in the same form of benefit, and actuarially adjusted to the same extent, as the corresponding Retirement Plan
Benefit of such Part B Participant (or Beneficiary, if applicable) is paid under the Retirement Plan. 

  
 B. Provided, that except in the case of and to the extent of a Key Employee Required Deferral, a Part B Participant shall be entitled to
make a Subsequent Election to change the date of distribution and payment of his/her Supplemental Retirement Benefit from his/her Normal SERP Benefit Commencement Date to the Deferred SERP Benefit Commencement Date resulting from such election, if :

  
 (i) he/she does not commence receiving his/her Retirement
Plan Benefit on or before his/her Normal SERP Benefit Commencement Date, 
  
 (ii) he/she makes a corresponding Subsequent Election with respect to the Excess Retirement Benefit, if any, he/she is entitled to under Part A of the Plan, and 
  
 (iii) he/she delivers a written notification of such Subsequent Election to
the Committee, or its designee, in the form it prescribes, not less than twelve (12) months prior to his/her Normal SERP Benefit Commencement Date. 
  
 The Committee, in its discretion, may allow a Part B Participant to make a Subsequent Election as to any Deferred SERP Benefit Commencement Date
established for payment of his/her Supplemental Retirement Benefit under and subject to the same conditions and requirements as set forth above in this Section 3.2.B. 
  
 Provided, that notwithstanding the foregoing, a Subsequent Election deferral will always occur pursuant to a Part B
Participant’s initial Election in any case in which he/she does not commence receiving his/her Retirement Plan Benefit on his/her Normal SERP Benefit Commencement Date, in accordance with such Election and paragraph D, of this Section 3.2.,
below, notwithstanding that no other written notification is delivered by him/her pursuant to the foregoing provisions. 
  
 C. Nothwithstanding anything to the contrary otherwise provided in the Plan or in any Election or Subsequent Election of a Part B
Participant, any Subsequent Election made under the Plan shall result in the first payment with respect to which such Subsequent Election is made being deferred to a Deferred SERP Benefit Commencement Date that is for a period of five (5) years from
the date such payment would otherwise have been made; the payment and distribution of any Supplemental Retirement Benefit and any Excess Retirement Benefit to which a Part B Participant is entitled under the Plan shall in all cases be made
simultaneously; and the payment and distribution of such Supplemental Retirement Benefit and Excess Retirement Benefit shall in no case commence or be made prior to the commencement of payment of such Part B Participant’s Retirement Plan
Benefit. 
  

 - 10 - 

 D. Provided, further, that if the payment of the Retirement Plan Benefit to which a Part
B Participant is entitled for any reason does not commence on or before a then existing Deferred SERP Benefit Commencement Date, or a then existing Deferred SERP Benefit Commencement Date established for such Part B Participant under the Plan, then
in such event, subject to compliance with all nonqualified deferred compensation plan requirements governing the Plan under Section 3.7, below, such Part B Participant’s initial Election shall be followed and shall be deemed for all purposes to
be a Subsequent Election to change the date of distribution and payment of his/her Supplemental Retirement Benefit to a subsequent Deferred SERP Benefit Commencement Date resulting from such Subsequent Election. 
  
 E. If a Part B Participant does not commence receiving his
Retirement Plan Benefit on his/her Normal SERP Benefit Commencement Date, and a Deferred SERP Benefit Commencement Date is established for the payment of his/her Supplemental Retirement Benefit, then upon commencement of payment of his/her
Supplemental Retirement Benefit on his/her Deferred SERP Benefit Commencement Date such Part B Participant shall be entitled to receive a Supplemental Retirement Benefit Catch-Up Payment on that Deferred SERP Benefit Commencement Date, if and to the
extent the payment of his/her Retirement Plan Benefit has commenced prior to such Deferred SERP Benefit Commencement Date. 
  
 F. If a Part B Participant is a Key Employee his/her Supplemental Retirement Benefit shall not commence being paid until after the end of
the Key Employee Required Deferral Period. In such case the Part B Participant shall receive a Key Employee Catch-Up Payment at the end of the Key Employee Required Deferral Period and thereafter receive Supplemental Retirement Benefit monthly
payments in accordance with the Plan. 
  

	3.3	Subsequent Elections; Deferred SERP Benefit Commencement Date. Notwithstanding anything to the contrary provided herein, if a Part B Participant makes a Subsequent Election
or is deemed to have made a Subsequent Election to change such time of distribution or payment of such Part B Participant’s Supplemental Retirement Benefit that Subsequent Election shall result in a Deferred SERP Benefit Commencement Date being
established for such Part B Participant based upon the time of such Subsequent Election. A Part B Participant’s initial Election shall include his/her consent and agreement, to all terms and provisions of the Plan with respect to any Subsequent
Election and the effect thereof with respect to the time and form of payment of any Supplemental Retirement Benefit he/she is entitled to receive under the Plan. 

  

	3.4	Vesting of Supplemental Retirement Benefit. Subject to Sections 3.6 and 3.7 of this Article III, below, a Part B Participant’s Supplemental Retirement Benefit shall
unconditionally vest in such Part B Participant and become nonforfeitable upon the Part B Participant’s completion of five (5) Years of Service; provided that the Supplemental Retirement Benefit shall not vest in a Part B Participant at the
time of, or by reason of his/her Retirement or under any other circumstance if he/she has not completed five (5) Years of Service. 

  

 - 11 - 

	3.5	Forfeitability of Retirement Benefit. Notwithstanding any provision to the contrary expressed or implied herein, a Part B Participant’s right to receive a Supplemental
Retirement Benefit under the Plan and such Part B Participant’s Plan Agreement shall be forfeited to the extent that such Supplemental Retirement Benefit has not vested as described in Section 3.4 and the Part B Participant’s Plan
Agreement. 

  

	3.6	Death of Part B Participant. In the event of the death of a Part B Participant prior to Retirement, an amount equal to fifty-five percent (55%) of his/her vested Supplemental
Retirement Benefit shall be paid to his/her Beneficiary in the form and at the time his/her Retirement Plan Benefit is paid after his/her death. Nonqualified Deferred Compensation Plan Requirements. Notwithstanding anything to the contrary
expressed or implied herein, the deferral of all Compensation under this Plan shall be subject to the requirements set forth in Article XI, Section 11.1 of Part C of the Plan. 

  
 ARTICLE IV 
 BENEFICIARY 
  
 The Beneficiary of a Part B Participant’s Supplemental Retirement Benefit shall be the beneficiary of such Part B Participant’s Retirement Plan Benefit. 
  
 ARTICLE V 
 SUPPLEMENTAL RETIREMENT BENEFIT ADJUSTMENTS 
  
 The
Committee shall be authorized to make and apply special adjustments in determining the amount of a Part B Participant’s Supplemental Retirement Benefit. Such adjustments may be made from time to time by the Committee for any Part B Participant,
and may include, without limitation, the granting or deemed accrual of additional Years of Service, the waiver of an offset of retirement benefits provided by a prior employer, or such other adjustments as the Committee determines, in its sole
discretion; provided, however, that no such adjustment shall be effective until it is made and expressly acknowledged in writing by the Committee. 
  
 ARTICLE VI 
 LEAVE OF ABSENCE 

 
 If a Part B Participant is authorized by the Company for any reason,
including military, medical, or other, to take a leave of absence from employment, such Part B Participant’s Plan Agreement shall remain in effect. 
  
 ARTICLE VII 
 ADMINISTRATION OF PART B OF
THE PLAN 
  
 Except as otherwise expressly provided herein, this
Part B of the Plan shall be administered pursuant to the provisions of Part C of the Plan. 
  

 - 12 - 

  
 PART C 
 PLAN ADMINISTRATION AND MISCELLANEOUS PROVISIONS 
  
 ARTICLE I 
 PURPOSE AND SCOPE OF PART C

  
 The purpose of Part C of the Plan is to establish and provide
certain provisions governing the administration, and interpretation and application of all the provisions of the Plan. Unless otherwise expressly indicated, the terms and provisions of Part C of the Plan shall be applicable to Part A, Part B and
Part C of the Plan. 
  
 ARTICLE II 
 DEFINITIONS AND CONSTRUCTION 
  

	2.1	Definitions. For purposes of Parts A, B and C of the Plan, the following phrases or terms shall have the indicated meanings unless otherwise clearly apparent from the
context: 

  
 A. “Base Cash
Compensation” shall mean the regular monthly salary paid to a Participant by the Company before any deductions or exclusions for taxes or other purposes, and excluding any vehicle allowance, incentives, commissions and any other special pay.

  
 B. “Beneficiary” shall mean the
individual or individuals, or any trust or trusts, or the estate of a Participant entitled to receive any benefits in accordance with the terms of the Plan. 
  
 C. “Board of Directors” shall mean the Board of Directors of ONEOK, Inc., unless otherwise indicated or the context otherwise
requires. 
  
 (A) “Change in Control”
shall mean to the extent provided by Treasury Regulations issued under Code Section 409A, a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the assets of the Company. 
  
 D. “Code” shall mean the Internal Revenue Code of
1986, as amended. 
  
 E. “Committee”
shall mean the Executive Compensation Committee of the Board of Directors or such other Committee appointed to manage and administer the Plan and individual Plan Agreements in accordance with the provisions of Article III of this Part C of the Plan.

  
 F. “Company” shall mean ONEOK,
Inc., an Oklahoma corporation, or any division or subsidiary thereof. 
  
 G. “Compensation” shall mean the Base and Short-Term Incentive Cash Compensation from the Company paid to or deferred by a Participant during a calendar year. 
  

 - 13 - 

 H. “Deferred Compensation” shall mean any Excess Retirement Benefit or
Supplemental Retirement Benefit to be paid to a Participant pursuant to the Plan. 
  
 I. “Deferred Excess Retirement Benefit Payment” shall mean the amount of any monthly Excess Retirement Benefit that is not paid
to a Part A Participant for any month during such Part A Participant’s SERP Retirement Benefits Deferral Period. 
  
 J. “Deferred Retirement Plan Benefit Commencement Date” shall mean a Retirement Plan Benefit Commencement Date that is later
than a Participant’s Normal SERP Benefit Commencement Date. 
  
 K. “Deferred Retirement Plan Benefit Election Date” shall mean the date a Participant elects a Deferred Retirement Plan Benefit Commencement Date. 
  
 L. “Deferred SERP Benefit Commencement Date” shall
mean with respect to a Part A Participant or Part B Participant, the date that is five (5) years after such Participant’s Normal SERP Benefit Commencement Date, or any existing Deferred SERP Benefit Commencement Date established under the Plan
with respect to such Participant, as to which the Participant has made a Subsequent Election under the terms and provisions of the Plan. 
  
 M. “Deferred Supplemental Retirement Benefit Payment” shall mean the amount of any monthly Supplemental Retirement Benefit that
is not paid to a Part B Participant for any month during such Part B Participant’s Supplemental Retirement Benefits Deferral Period. 
  
 N. “Disabled” shall mean that a Participant is unable to engage in substantial gainful activity by reason of any medically
determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, or is, by reason of any medically determinable physical or mental impairment
which can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident or health plan covering Employees of the Company.

  
 O. “Effective Date” shall mean the
effective date of the Plan, January 1, 2005. 
  
 P. “Election” shall mean the initial Election of a Participant to defer Deferred Compensation to the Participant for services performed for a Plan Year or other period pursuant to the Plan, which shall be on or before the
expiration of thirty (30) days after the Initial Participation Date of such Participant. 
  
 Q. “Election Date” shall mean the date of the Election of a Part A Participant or Part B Participant that is made or deemed made
pursuant to the terms of the Plan. 
  
 R.
“Employee” shall mean any person who is in the regular full-time employment of the Company or is on authorized leave of absence therefrom, as 

  

 - 14 - 

 
determined by the personnel rules and practices of the Company. The term does not include persons who are retained by the Company solely as consultants or
under contract. 
  
 S. “ERISA” shall
mean the Employee Retirement Income Security Act of 1974, as amended. 
  
 T. “Excess Retirement Benefit” shall mean an amount equal the difference between (i) the Retirement Plan Benefit to which the Part A Participant would be entitled under the Retirement Plan if such Retirement
Plan Benefit was computed without the restrictions or limitations imposed by Sections 401(a)(17) and 415(b) of the Code as now or hereafter in effect, less (ii) the amount of Retirement Plan Benefit payable to the Part A Participant under the
Retirement Plan. 
  
 U. “Excess Retirement
Benefit Catch-Up Payment” means a payment equal to the amount of each monthly Deferred Excess Retirement Benefit Payment, if any, to which a Part A Participant is entitled between the such Part A Participant’s Retirement Plan Benefit
Commencement Date and his/her Deferred SERP Benefit Commencement Date. 
  
 V. “Final Average Earnings” shall mean the average of the highest thirty-six (36) consecutive months Compensation during the last sixty (60) month period of an Employee’s employment with the Company.

  
 W. “Fixed Schedule” shall mean the
distribution or payment of compensation deferred under the Plan in a fixed schedule of distributions or payments that are determined and fixed at the time the deferral of such Compensation is first elected by the Participant. 
  
 X. “Initial Participation Date” shall mean the
date an Employee or Officer first becomes a Part A Participant and/or Part B Participant in the Plan. 
  
 Y. “Key Employee” shall mean an Employee who is (i) an officer of the Company having annual Compensation greater than $130,000
(adjusted for inflation at the same time and in the same manner as is provided for in Code Section 416(i) and limited to 50 Employees of the Company, (ii) a 5-percent owner of the Company, and (iii) a 1-percent owner of the Company having annual
Compensation from the Company greater than $150,000. 
  
 Z. “Key Employee Catch-Up Payment” shall mean a lump sum payment equal to all regularly scheduled Excess Retirement Benefit and/or Supplemental Retirement Benefit monthly payments to which an Part A Participant or Part B
Participant is entitled to under the Plan but which are not paid on and after the commencement of payment of his/her Retirement Plan Benefit because of a Key Employee Required Deferral Period. 
  
 AA. “Key Employee Required Deferral Period” shall
mean the deferral of payment and distribution of an Excess Retirement Benefit or a Supplemental Retirement 

  

 - 15 - 

 
Benefit with respect to a Part A Participant or Part B Participant, respectively, until a date which is six (6) months after the date of the Separation from
Service of such Participant. 
  
 BB. “Normal
SERP Benefit Commencement Date” shall mean as to any Part A Participant or Part B Participant, the first day of the calendar month next following the date of occurrence of both (i) such Participant’s Separation from Service with the
Company, and (ii) such Participant’s attainment of age fifty (50). 
  
 CC. “Officer” shall mean a person who is an elected officer of the Company. 
  
 DD. “Part A Participant” shall mean an Employee who is selected to participate in Part A of the Plan in accordance with the
provisions of Article II of Part A of the Plan. 
  
 EE. “Part B Participant” shall mean an Employee who is selected and elects to participate in Part B of the Plan in accordance with the provisions of Article II of Part B of the Plan. 
  
 FF. “Performance-Based Compensation shall mean
Compensation that is conditioned upon or subject to meeting certain requirements similar to those under Code Section 162(m), as more particularly provided for in Treasury Regulations issued under Code Section 409A. 
  
 GG. “Plan Agreement” shall mean a form of written
agreement which is entered into by and between the Company and an Employee selected to become a Participant as a condition to participation in the Plan as provided in Sections 2.2 and 2.4 of Article II of Part B of the Plan. 
  
 HH. “Plan” shall mean this ONEOK, Inc. 2005
Supplemental Executive Retirement Plan as embodied herein and as amended from time to time. 
  
 II. “Prior Frozen SERP” shall mean the separate preexisting ONEOK, Inc. Supplemental Executive Retirement Plan, terminated and
frozen by the Board of Directors effective December 31, 2004. 
  
 JJ. “Rabbi Trust” shall mean the trust created to hold assets which will be used to pay the benefits provided hereunder, as provided in Section 5.4 of Article V of this Part C of the Plan. 
  
 KK. “Retirement” and “Retire” shall mean
termination of an Employee’s employment with the Company, other than termination of employment as a result of death of the Employee, irrespective of whether or not the Employee is considered to have retired under the Retirement Plan or for any
other purpose at the time of his/her termination of employment with the Company. 
  
 LL. “Retirement Age” shall mean the retirement age of a Participant specified in the Participant’s Plan Agreement and the
Plan. 
  

 - 16 - 

 MM. “Retirement Plan” shall mean the Retirement Plan for Employees of ONEOK,
Inc. and Subsidiaries. 
  
 NN. “Retirement
Plan Benefit” shall mean the benefit or benefits to which a Part B Participant is entitled under the Retirement Plan. 
  
 OO. “Retirement Plan Benefit Commencement Date” means the date a Participant commences receiving payments of his/her Retirement
Benefits under the Retirement Plan. 
  
 PP.
“Separation from Service” shall mean the termination of a Participant’s employment with the Company. 
  
 QQ. “SERP Retirement Benefits Payments Deferral Period” means the period of time commencing on a Part A Participant’s or a
Part B Participant’s Retirement Plan Benefit Commencement Date and ending on such Part B Participant’s Deferred SERP Benefit Commencement Date. 
  
 RR. “Service” shall mean employment of a Participant by the Company as a regular full-time employee. 
  
 SS. “Short-Term Incentive Cash Compensation” shall
mean any payment by the Company under the ONEOK, Inc. Annual Employee Incentive Plan, the ONEOK, Inc. Annual Officer Incentive Plan, or any other incentive or commission plan established by the Company to pay employees additional cash compensation
to reward performance, except that any payment by the Company under the ONEOK Energy Services Company, II Incentive Plan shall not be considered or treated as Short-Term Incentive Cash Compensation. 
  
 TT. “Specified Time” shall mean a specified date
at which Deferred Compensation deferred by a Participant pursuant to the Plan is required to be distributed or paid and which is specified at the time the deferral of such Deferred Compensation is initially elected by the Participant. 
  
 UU. “Subsequent Election” shall mean an election
made by a Participant with respect to the time or form of distribution of payment Deferred Compensation deferred under the Plan that is made at any time after his/her Election with respect to such Deferred Compensation. 
  
 VV. “Supplemental Retirement Benefit” shall mean
the supplemental retirement benefit to be paid to a Part B Participant pursuant to Article III and other applicable provisions of Part B of the Plan. 
  
 WW. “Supplemental Retirement Benefit Catch-Up Payment” means a payment equal to the amount of each monthly Deferred Supplemental
Retirement Benefit Payment, if any, to which a Part B Participant is entitled and which is not paid to such Part B Participant during the period between such Part B Participant’s Retirement Plan Benefit Commencement Date and his/her Deferred
SERP Benefit Commencement Date. 
  

 - 17 - 

 XX. “Totally and Permanently Disabled” means when, on the basis of medical
evidence, it is determined that a Participant: 
  
 (a) is totally disabled so as to be prevented from any comparable employment with the Company, including a disability resulting from an occupational cause; and 
  
 (b) will be disabled permanently. 
  
 YY. “Unforeseeable Emergency” shall mean a sever financial hardship to the Participant resulting
from illness or accident of the Participant, the Participant’s spouse, or a dependent (as defined in Code Section 152(a)) of the Participant, loss of the Participant’s property due to casualty, or other similar extraordinary circumstances
arising as a result of events beyond the control of the Participant, and it is intended and directed with respect to any such Unforeseeable Emergency that any amounts distributed under the Plan by reason thereof shall not exceed the amounts
necessary to satisfy such emergency plus amounts necessary to pay taxes reasonably anticipated as a result of the distribution, after taking into account the extent to which such hardship is or may be relieved through reimbursement or compensation
by insurance or otherwise or by liquidation of the Participant’s assets (to the extent the liquidation of such assets would not itself cause severe financial hardship. 
  
 ZZ. “Years of Service” shall include each full year, but not any portion of a year, during which
the Participant has been employed by the Company or any division or subsidiary thereof. 
  

	2.2	Construction. The singular when used herein may include the plural unless the context clearly indicates to the contrary. The words “hereof”,
“herein”, “hereunder”, and other similar compounds of the word “here” shall mean and refer to the entire Plan and not to any particular provision or section. Whenever the words “Article” or “Section”
are used in the Plan, or a cross reference to an “Article” or “Section” is made, the Article or Section referred to shall be an Article or Section of the same Part of the Plan unless otherwise specified. 

 

	2.3	Plan Purpose. The Plan is intended to be an unfunded deferred compensation, excess and supplemental retirement benefit plan established and maintained for a select group of
management and highly compensated employees of the Company within the meaning of Sections 201(2) and (7), 301(a)(3), (9) and 401(a)(1) of ERISA, as provided under the respective provisions of Part A and Part B of the Plan, and the Company intends
that any Participant or Beneficiary shall have the status of an unsecured creditor as to the Plan or any trust, fund or other arrangement established under or with respect to the Plan, and the Plan shall be construed, interpreted and administered in
accordance with such intended purpose. 

  
 ARTICLE
III 
 COMMITTEE 
  

	3.1	Appointment of Committee. 

  

 - 18 - 

 The general administration of the Plan, including all provisions of Part A and Part B of the Plan, and
any Plan Agreements executed hereunder, as well as construction and interpretation thereof, shall be vested in the Committee, the number and members of which shall be designated and appointed from time to time by, and shall serve at the pleasure of,
the Board of Directors. Any such member of the Committee may resign by notice in writing filed with the Board of Directors. Vacancies shall be filled promptly by the Board of Directors. 
  

	3.2	Committee Officials. The Board of Directors may designate one of the members of the Committee as Chairman and may appoint a secretary who need not be a member of the
Committee. The secretary shall keep minutes of the Committee’s proceedings and all data, records, and documents relating to the Committee’s administration of the Plan and any Plan Agreements executed hereunder. The Committee may appoint
from its number such subcommittees with such powers as the Committee shall determine and may authorize one or more of its members or any agent to execute or deliver any instrument or make any payment on behalf of the Committee.

  

	3.3	Committee Action. All resolutions or other actions taken by the Committee shall be by the vote of a majority of those present at a meeting at which a majority of the members
are present, or in writing by all the members at the time in office if they act without a meeting. 

  

	3.4	Committee Rules and Powers. Subject to the provisions of the Plan, the Committee may from time to time establish rules, forms, and procedures for the administration of the
Plan, including Plan Agreements. Except as herein otherwise expressly provided, the Committee shall have the exclusive right to interpret the Plan and any Plan Agreements, and to decide any and all matters arising thereunder or in connection with
the administration of the Plan and any Plan Agreements, and it shall endeavor to act, whether by general rules or by particular decisions, so as not to discriminate in favor of or against any person. The Committee shall have the exclusive right to
determine if a Participant has become Totally and Permanently Disabled with respect to a Participant (consistent with the Plan’s definition of the term), such determinations to be made on the basis of such medical and/or other evidence that the
Committee, in its sole and absolute discretion, may require. Such decisions, actions, and records of the Committee shall be conclusive and binding upon the Company, the Participants, and all persons having or claiming to have rights or interests in
or under the Plan. 

  

	3.5	Reliance on Certificates, etc. The members of the Committee and the Officers and Directors of the Company shall be entitled to rely on all certificates and reports made by
any duly appointed accountants, and on all opinions given by any duly appointed legal counsel. Such legal counsel may be counsel for the Company. 

  

	3.6	 Liability of Committee. No member of the Committee shall be liable for any act or omission of any other member of the Committee, or for any act or omission
on his part, excepting only his own willful misconduct. The Company shall indemnify and save harmless each member of the Committee against any and all expenses and liabilities 

  

 - 19 - 

	 	 
arising out of membership on the Committee, excepting only expenses and liabilities arising out of a Committee member’s own willful misconduct. Expenses
against which a member of the Committee shall be indemnified hereunder shall include, without limitation, the amount of any settlement or judgment, costs, counsel fees, and related charges reasonably incurred in connection with a claim asserted, or
a proceeding brought, or settlement thereof. The foregoing right of indemnification shall be in addition to any other rights to which any such member may be entitled. 

  

	3.7	Determination of Benefits. In addition to the powers hereinabove specified, the Committee shall have the power to compute and certify, under the Plan and any Plan Agreement,
the amount and kind of benefits from time to time payable to Participants and their Beneficiaries, and to authorize all disbursements for such purposes. 

  

	3.8	Information to Committee. To enable the Committee to perform its functions, the Company shall supply full and timely information to the Committee on all matters relating to
the compensation of all Participants, their retirement, death, or other cause for termination of employment, and such other pertinent facts as the Committee may require. 

  
 ARTICLE IV 
 ADOPTION OF PLAN BY SUBSIDIARY, 
 AFFILIATED OR ASSOCIATED COMPANIES 
  
 Any corporation which is a subsidiary of the Company may, with the approval of the Board of Directors, adopt the Plan and
thereby come within the definition of Company in Article I of Part C of the Plan. 
  
 ARTICLE V 
 SOURCE OF BENEFITS 
  

	5.1	Benefits Payable. Excess Retirement Benefits and Supplemental Retirement Benefits payable hereunder shall be paid exclusively from the general assets of the Company or
the Rabbi Trust to be established pursuant to Section 5.4 of this Article V; provided, that no person entitled to payment hereunder shall have any claim, right, security interest, or other interest in any fund, trust, account, insurance contract, or
asset of the Company which may be looked to for such payment. The Company’s liability for the payment of benefits hereunder shall be evidenced only by the Plan and each Plan Agreement entered into between the Company and a Participant.

  

	5.2	 Investments to Facilitate Payment of Benefits. Although the Company is not obligated to invest in any specific asset or fund, or purchase any
insurance contract, in order to provide the means for the payment of any Supplemental Retirement Benefits under the Plan, the Company may elect to do so, and, in such event, no Participant shall have any interest whatever in such asset, fund, or
insurance contract. In the event the Company elects to purchase or causes to be purchased insurance contracts on the life of a Participant as a means for making, offsetting, or contributing to any payment, in full or in part, which may become due
and payable by the Company under the Plan or a Participant’s Plan Agreement, such Participant agrees to cooperate in the securing of life insurance on his/her life by furnishing such information as the Company and the 

  

 - 20 - 

	 	 
insurance carrier may require, including the results and reports of previous Company and other insurance carrier physical examinations as may be requested,
and taking any other action which may be requested by the Company and the insurance carrier to obtain such insurance coverage. If a Participant does not cooperate in the securing of such life insurance, the Company shall have no further obligation
to such Participant under the Plan. 

  

	5.3	Ownership of Insurance Contracts. The Company shall be the sole owner of any insurance contracts acquired on the life of a Participant with all incidents of ownership
therein, including, but not limited to, the right to cash and loan values, dividends, if any, death benefits, and the right to termination thereof, and a Participant shall have no interest whatsoever in such contracts, if any, and shall exercise
none of the incidents of ownership thereof. Provided, however, the Company may assign any such insurance contracts to the trustee of the Rabbi Trust. 

  

	5.4	Trust for Payment of Supplemental Retirement Benefits. The Company shall create or utilize a Rabbi Trust for the purpose of facilitating any retirement benefits payable
hereunder. Such trust will be funded to provide the applicable vested Excess Retirement Benefits and Supplemental Retirement Benefits payable under the Plan upon the occurrence of any of the following events: 

  
 a) At the Retirement of, and commencement of payment of an Excess Retirement
Benefit or a Supplemental Retirement Benefit to a Plan Participant; 
  
 b) Upon a decision by the Committee, or by the Board of Directors; or 
  
 c) Upon a Change in Control. 
  
 Such funding may be in the form of single premium annuities, or an amount sufficient for the trustee to purchase single premium annuities, or life insurance policies or contracts insuring the lives of Participants, as the case may be, from
qualified and financially sound insurance companies, and such other forms or types of investments the Company may select from time to time to provide the applicable vested Excess Retirement Benefits and Supplemental Retirement Benefits payable under
the Plan and Plan Agreements. Such funding and the purchase of insurance, if any, will not relieve the Company of its obligations to pay or cause to be paid the benefits hereunder. 
  
 The Rabbi Trust may be maintained and administered to also provide for the funding of payment of amounts payable to
participants in other deferred compensation and benefit plans of the Company. The funding, investments and administration of the Rabbi Trust in connection with such other separate plan or plans shall be separately administered and accounted for as
determined to be necessary and appropriate by the Company and trustee pursuant to the terms of the Rabbi Trust. It shall be permissible for the trustee to invest funds of the Rabbi Trust in one or more forms of investment that is common to plans
being funded thereunder. 
  
 The Rabbi Trust shall be a grantor
trust of which the Company is the grantor within the meaning of the Code. The principal of the Rabbi Trust and any earnings thereon shall be 

  

 - 21 - 

 
held separate and apart from other funds of the Company and shall be used exclusively for the uses and purposes of Part A Participants and/or Part B
Participants in the Plan and general creditors of the Company as specified hereinbelow and in the trust instrument. Part A Participants and Part B Participants in the Plan and their Beneficiaries shall have no preferred claim on, or any beneficial
ownership in any assets of the Rabbi Trust; and any rights created under the Plan or any Plan Agreements, and the Rabbi Trust are to be made unsecured contractual rights of Part A Participants and Part B Participants (and their Beneficiaries, if
applicable) against the Company; and assets held by the Rabbi Trust will be subject to the claims of the Company’s general creditors under federal and state law in the event of insolvency of the Company. 
  
 ARTICLE VI 
 TERMINATION OF EMPLOYMENT 
  
 Neither the Plan nor any Plan Agreement with a Participant hereunder, either singly or collectively, in any way obligate the Company, or any subsidiary of the Company, to continue the employment of a Part A
Participant or a Part B Participant with the Company, or any subsidiary of the Company, nor does either limit the right of the Company or any subsidiary of the Company at any time and for any reason to terminate such Part A Participant’s or
Part B Participant’s employment. Termination of a Part A Participant’s or Part B Participant’s employment with the Company, or any subsidiary of the Company, for any reason, whether by action of the Company, subsidiary, or such a Part
A Participant or Part B Participant, shall immediately terminate such Participant’s participation in the Plan and any such Participant’s Plan Agreement, and all further obligations of either party thereunder, except as may be provided in
Article VIII of this Part C, and the Participant’s Plan Agreement. In no event shall the Plan or a Plan Agreement, either singly or collectively, by their terms or implications constitute an employment contract of any nature whatsoever between
the Company, or any subsidiary, and a Part A Participant or Part B Participant. 
  
 ARTICLE VII 
 TERMINATION OF PARTICIPATION 
  
 A Part A Participant and a Part B Participant reserves the right to terminate
participation in the Plan and any such Participant’s Plan Agreement at any time by giving the Company written notice of such termination not less than 30 days (i) prior to the anniversary date of any contract or contracts of insurance on the
life of such Part A Participant or Part B Participant which may be in force and utilized by the Company in connection with the Plan, or (ii) prior to the date a Part A Participant or Part B Participant selects for termination if no insurance
contract is in effect. 
  
 ARTICLE VIII 
 TERMINATION, AMENDMENT, MODIFICATION, 
 OR
SUPPLEMENT OF THE PLAN 
  

	8.1	 Amendment or Termination. Subject to Section 8.2, below, the Company reserves the right to amend, modify, supplement, or terminate the Plan, wholly or
partially, from time to time, and at any time. The Company likewise reserves the right to amend, modify, or 

  

 - 22 - 

	 	 
supplement any Plan Agreement, wholly or partially, from time to time. Such right to amend, modify, supplement, or terminate the Plan or any Plan Agreement,
as the case may be, shall be exercised for the Company by the Board of Directors; provided, that the Committee shall also be authorized to amend or modify the terms and provisions of the Plan, or a Plan Agreement, except that any amendment or
modification of the Plan or Plan Agreement that changes the form or amount of any payment or benefit provided for under the Plan shall be made only by action of the Board of Directors; provided further, in the event of a Change in Control of
the Company, for a period of two (2) years after the date of such Change of Control the surviving corporation may terminate or amend the Plan only by substitution by such corporation of another plan or program, or by amendments to the Plan, which
provide benefits no less favorable to the Part A Participants or Part B Participants of this Plan; and upon the expiration of such two (2) year period such surviving corporation may thereafter terminate or amend the Plan or any such substituted plan
subject in any case to Section 8.2, below. 

  

	8.2	Rights and Obligations Upon Amendment, Termination. The following terms and conditions shall govern the rights and obligations of a Part A Participant or Part B Participant
and the Company (including any surviving corporation in event of a Change of Control), respectively, with respect to the amendment or termination of the Plan. 

  
 A. Notwithstanding anything to the contrary expressed or provided in the Plan or any Plan Agreement of a
Part A Participant or Part B Participant, no amendment, modification or termination of the Plan, shall decrease a Part A Participant’s or Part B Participant’s accrued Excess Retirement Benefit or Supplemental Retirement Benefit, as
applicable. For purposes of this Paragraph A., a Plan amendment which has the effect of decreasing a Part A Participant’s or Part B Participant’s accrued Excess Retirement Benefit or Supplemental Retirement Benefit, as the case may be, or
eliminating any optional form of payment of a Participant’s accrued Excess Retirement Benefit or Supplemental Retirement Benefit, with respect to benefits attributable to service before the amendment shall be treated as reducing an accrued
Excess Retirement Benefit or Supplemental Retirement Benefit. If a vesting schedule under the Plan or any Plan Agreement is amended, a Part A Participant’s and Part B Participant’s non-forfeitable percentage, determined as of the later of
the date such amendment is adopted or the date it becomes effective, will not be less than the percentage computed under Part A and Part B of the Plan, as applicable, without regard to such amendment. 
  
 B. Except as provided in paragraph A of this Section 8.2,
upon the termination of the Plan by the Board of Directors, or a termination of the Plan Agreement of a Participant, in accordance with the provisions for such termination, neither the Plan nor the Plan Agreement shall be of any further force or
effect, and no party shall have any further obligation under either the Plan or any Plan Agreement so terminated, except as provided in the Plan or Plan Agreement with respect to accrued benefits at the time of such termination or as elsewhere
provided in the Plan. 
  
 C. For purposes of
paragraphs A and B of this Section 8.2, the term “Plan” shall also mean and include any substituted plan that may be established in event of a Change of Control as described in Section 8.1, above, and the terms “Excess Retirement

  

 - 23 - 

	 	 
Benefit” and “Supplemental Retirement Benefit” shall also mean and include any benefit provided for under such a substituted plan.

  
 ARTICLE IX 
 TREATMENT OF BENEFITS 
  
 The Excess Retirement Benefit provided for a Part A Participant and the Supplemental Retirement Benefit provided for a Part B Participant under the Plan
and/or under any Plan Agreement are in addition to any other benefits available to such Participant under any other Plan, plan or agreement of the Company for its Employees and the Participants, and, except as may be otherwise expressly provided
for, the Plan and Plan Agreements entered into hereunder shall supplement and shall not supersede, modify, or amend any other Plan, plan or agreement of the Company. The Excess Retirement Benefits and Supplemental Retirement Benefits under the Plan
and/or Plan Agreements entered into hereunder shall not be considered compensation for the purpose of computing contributions or benefits under any plan maintained by the Company, or any of its subsidiaries, which is qualified under Section 401(a)
of the Code. 
  
 ARTICLE X 
 RESTRICTIONS ON ALIENATION OF BENEFITS 
  
 No Excess Retirement Benefit or Supplemental Retirement Benefit under the Plan or a Plan Agreement shall be subject to anticipation, alienation, sale,
assignment, pledge, encumbrance, or charge, and any attempt to anticipate, alienate, sell, assign, pledge, encumber, or charge the same shall be void. No Excess Retirement Benefit Supplemental Retirement Benefit under the Plan or under any Plan
Agreement shall in any manner be liable for or subject to the debts, contracts, liabilities, or torts of the person entitled to such thereto. If any Part A Participant or Part B Participant under the Plan or a Plan Agreement should become bankrupt
or attempt to anticipate, alienate, sell, assign, pledge, encumber, or charge any right to a benefit under the Plan or under any Plan Agreement, then such right or benefit shall, in the discretion of the Committee, cease, and in such event, the
Committee may, but shall have no duty to hold or apply the same or any part thereof for the benefit of such Part A Participant or Part B Participant, or his/her Beneficiary, in such portion as the Committee, in its sole and absolute discretion, may
deem proper. 
  
 ARTICLE XI 
 MISCELLANEOUS 
  

	11.1 Deferral	of Compensation Requirements. 

  
 The following requirements stated in this Section 11.1 shall apply to the Plan, to all Elections or Subsequent Elections made by Participants under the
Plan, and to all distributions and payments made pursuant to the Plan. 
  
 A. Any Compensation deferred under the Plan shall not be distributed earlier than 
  
 (a) Separation from Service of the Participant, 
  

 - 24 - 

 (b) the date the Participant becomes Disabled, 
  
 (c) death of the Participant, 
  
 (d) a Specified Time (or pursuant to a Fixed Schedule)
specified under the Plan at the date of deferral of such Compensation, 
  
 (e) a Change in Ownership or Control, or 
  
 (f) the occurrence of an Unforeseeable Emergency. 
  
 B. Notwithstanding the foregoing, in the case of a Participant who is a Key Employee, no distribution shall be made before the date which
is six (6) months after the date of the Participant’s Separation from Service, or, if earlier, the date of death of such Participant. 
  
 C. No acceleration of the time or schedule of any distribution or payment under the Plan shall be permitted or allowed, except to the
extent provided in Treasury Regulations issued under Code Section 409A. 
  
 If the Plan, or the Committee acting pursuant to the Plan, permits under any Subsequent Election by a Participant a delay in a payment or a change in the form of payment of Compensation deferred under the Plan, such
Subsequent Election shall not take effect until at least twelve (12) months after the date on which it is made. In the case of a Subsequent Election related to a payment to be made upon Separation from Service of a Participant, at a Specified Time
or pursuant to a Fixed Schedule, or upon a Change in Ownership or Control, the first payment with respect to which such Subsequent Election is made shall be deferred for a period of not less than five (5) years from the date such payment would
otherwise have been made; and any such Subsequent Election related to a payment at a Specified Time or pursuant to a Fixed Schedule may not be made less than twelve (12) months prior to the date of the first scheduled payment to which it relates.

  

	11.2 	Execution of Receipts and Releases. Any payment to a Participant, a Participant’s legal representative, or Beneficiary in accordance with the provisions of the Plan or
any Plan Agreement executed hereunder shall, to the extent thereof, be in full satisfaction of all claims hereunder against the Company. The Company may require such Participant, legal representative, or Beneficiary, as a condition precedent to such
payment, to execute a receipt and release therefor in such form as it may determine. 

  

	11.3 	No Guarantee of Interests. Neither the Committee nor any of its members guarantees the payment of any amounts which may be or becomes due to any person or entity under the
Plan or any Plan Agreement executed hereunder. The liability of the Company to make any payment under the Plan or any Plan Agreement executed hereunder is limited to the then available assets of the Company and the Rabbi Trust established under
Section 5.4 of this Part C. 

  

	11.4 	 Company Records. Records of the Company as to a Participant’s employment, termination of employment and the reason therefor, reemployment, authorized
leaves of 

  

 - 25 - 

	 	 
absence, and compensation shall be conclusive on all persons and entities, unless determined to be incorrect. 

  

	11.5 	Evidence. Evidence required of anyone under the Plan and any Plan Agreement executed hereunder may be by certificate, affidavit, document, or other information which the
person or entity acting on it considers pertinent and reliable, and signed, made, or presented by the proper party or parties. 

  

	11.6 	Notice. Any notice which shall be or may be given under the Plan or a Plan Agreement executed hereunder shall be in writing and shall be mailed by United States mail, postage
prepaid. If notice is to be given to the Company, such notice shall be addressed to the Company at: 

  
 100 West Fifth Street 
 Tulsa, Oklahoma 74103

  
 and marked to the attention of the Secretary, Supplemental
Executive Retirement Plan Administrative Committee; or, if notice to a Participant, addressed to the address shown on such Participant’s most recent employment file with the Company. 
  

	11.7 	Change of Address. Any party may, from time to time, change the address to which notices shall be mailed by giving written notice of such new address.

  

	11.8 	Effect of Provisions. The provisions of the Plan and of any Plan Agreement executed hereunder shall be binding upon the Company and its successors and assigns, and upon a
Participant, the Participant’s Beneficiary, assigns, heirs, executors, and administrators. 

  

	11.9 	Headings. The titles and headings of Articles and Sections are included for convenience of reference only and are not to be considered in the construction of the provisions
hereof or any Plan Agreement executed hereunder. 

  

	11.10 	Governing Law. All questions arising with respect to the Plan and any Plan Agreement executed hereunder shall be determined by reference to the laws of the State of Oklahoma
in effect at the time of their adopting and execution, respectively. 

  

 - 26 - 

	11.11 	Effective Date. Except to the extent explicitly stated otherwise herein, the terms and provisions of this amended and restated Plan shall be effective January 1, 2005.

  

			
	ONEOK, Inc.
		
	By:	 	 
	 	 	 David Kyle

	 	 	 Chairman of the Board,

	 	 	 Chief Executive Officer and President

  

	
	Attested by:
	
	  
	 (Secretary)

  

 - 27 -Employee Nonqualified Deferred Compensation Plan

  
 Exhibit 10.3

  
 ONEOK, Inc. 
  
 EMPLOYEE NONQUALIFIED 
 DEFERRED COMPENSATION PLAN 
  
 Amended and Restated Effective December 16, 2004 

  
 ONEOK, Inc.

 EMPLOYEE NONQUALIFIED DEFERRED COMPENSATION PLAN 
  
 Table of Contents 
  

			
	 ARTICLE I - PURPOSE
	  	1
	 1.1 Statement of Purpose; Effective Date
	  	1
	 ARTICLE II - DEFINITIONS
	  	1
	 2.1 Account
	  	1
	 2.2 Base Salary
	  	1
	 2.3 Beneficiary
	  	2
	 2.4 Board
	  	2
	 2.5 Bonus
	  	2
	 2.6 Change in Control
	  	2
	 2.7 Code
	  	5
	 2.8 Committee
	  	5
	 2.9 Compensation
	  	5
	 2.10 Corporation
	  	5
	 2.11 Deferral Account
	  	5
	 2.12 Deferral Benefit
	  	5
	 2.13 Determination Date
	  	5
	 2.14 Disability
	  	5
	 2.15 Employee
	  	6
	 2.16 Eligible Employee
	  	6
	 2.17 Employer
	  	6
	 2.18 ERISA
	  	6
	 2.19 Exchange Act
	  	6
	 2.20 Fiscal Year
	  	6
	 2.21 Investment Return Rate
	  	6
	 2.22 Just Cause
	  	6
	 2.23 KGS Deferred Compensation Plan
	  	7
	 2.24 KGS Deferred Benefit Account
	  	7
	 2.25 Key Employee Incentive Plan
	  	7
	 2.26 Long-Term Deferral
	  	7
	 2.27 Lump Sum Merit Award
	  	7
	 2.28 Matching Account
	  	7
	 2.29 Matching Amount
	  	8
	 2.30 Matching Percentage
	  	8
	 2.31 Participant
	  	8
	 2.32 Participation Agreement
	  	8
	 2.33 Person
	  	8
	 2.34 Plan
	  	8
	 2.35 Plan Year
	  	8
	 2.36 Retirement
	  	8

  

 - i - 

			
	 2.37 Retirement Plan
	  	9
	 2.38 Shares
	  	9
	 2.39 Short-Term Deferral
	  	9
	 2.40 Subsidiary
	  	9
	 2.41 Thrift Plan
	  	9
	 2.42 Trust
	  	9
	 ARTICLE III - Eligibility and Participation
	  	9
	 3.1 Eligibility
	  	9
	 3.2 Participation
	  	10
	 3.3 Elections to Participate Irrevocable
	  	10
	 3.4 Exclusion from Eligibility
	  	10
	 3.5 Termination and Freeze of Plan
	  	10
	 ARTICLE IV - DEFERRAL OF COMPENSATION
	  	10
	 4.1 Amount and Time of Deferral
	  	10
	 4.2 Deferral Periods
	  	11
	 4.3 Committee Authority; Deferral of Compensation
	  	11
	 4.4 Matching Amounts
	  	11
	 4.5 Crediting Deferred Compensation and Matching Amounts
	  	12
	 4.6 Termination and Freeze of Plan
	  	12
	 ARTICLE V - BENEFIT ACCOUNTS
	  	12
	 5.1 Determination of Account
	  	12
	 5.2 Crediting of Investment Return; Other Items to Participant Accounts
	  	13
	 5.3 Investment Return Rate; Designated Deemed Investment
	  	13
	 5.4 Statement of Accounts
	  	13
	 5.5 Vesting of Account
	  	14
	 5.6 Administration and Crediting of KGS Deferred Benefit Accounts
	  	14
	 ARTICLE VI - PAYMENT OF BENEFITS
	  	14
	 6.1 Payment of Long-Term Deferred Benefit; Retirement Eligible Participant
	  	14
	 6.2 Payment of Short-Term Deferral Benefit
	  	14
	 6.3 Payment of Deferral Benefit upon Disability or Death
	  	14
	 6.4 Lump Sum Payment of Deferral Benefit Upon Termination of Employment;
	  	 
	       Participant Not Eligible for Vested Retirement Plan Benefits
	  	15
	 6.5 Form of Payment
	  	15
	 6.6 Commencement of Payments
	  	16
	 6.7 Additional Amount As To Certain Retirement Plan Participants
	  	16
	 6.8 Specific Term Deferrals
	  	16
	 6.9 Payment of KGS Deferred Benefit Accounts
	  	16
	 6.10 Hardship Payment of Deferrals
	  	17
	 ARTICLE VII - BENEFICIARY DESIGNATION
	  	17
	 7.1 Beneficiary Designation
	  	17
	 7.2 Amendments
	  	17
	 7.3 No Designation
	  	17
	 7.4 Effect of Payment
	  	18
	 ARTICLE VIII - ADMINISTRATION
	  	18
	 8.1 Plan Committee; Duties
	  	18

  

 - ii - 

			
	 8.2 Agents
	  	18
	 8.3 Binding Effect of Decisions
	  	19
	 8.4 Indemnity of Committee
	  	19
	 ARTICLE IX - MERGER AND CONSOLIDATION
	  	19
	 ARTICLE X - AMENDMENT AND TERMINATION OF PLAN
	  	19
	 10.1 Amendment
	  	19
	 10.2 Termination
	  	19
	 ARTICLE XI - PLAN EFFECT, LIMITATIONS, MISCELLANEOUS PROVISIONS
	  	20
	 11.1 Nature of Employer Obligation; Funding
	  	20
	 11.2 Trusts
	  	20
	 11.3 Nonassignability
	  	21
	 11.4 Code Section 409A Requirements
	  	21
	 11.5 Captions
	  	21
	 11.6 Governing Law
	  	22
	 11.7 Successors
	  	22
	 11.8 No Right to Continued Service
	  	22
	 EXHIBIT A
	  	1
	 EXHIBIT B
	  	2
	 EXHIBIT C
	  	3
	 EXHIBIT D
	  	6

  

 - iii - 

  
 ONEOK, Inc.

 EMPLOYEE NONQUALIFIED DEFERRED COMPENSATION PLAN 
  
 ARTICLE I - PURPOSE 
  

	1.1	Statement of Purpose; Effective Date 

  
 This ONEOK, Inc. Employee Nonqualified Deferred Compensation Plan (the “Plan”) and related agreements between the Employer and certain management or highly
compensated employees is an unfunded, nonqualified deferred compensation plan and arrangement. The purpose of the Plan is to provide a select group of management and highly compensated employees of the Employer with the option to defer the receipt
of portions of their compensation payable for services rendered to the Employer, and provide nonqualified deferred compensation benefits which are not available to such employees by reason of limitations on employer and employee contributions to
qualified pension or profit-sharing plans under the federal tax laws. 
  
 It is
intended that the Plan will assist in attracting and retaining qualified individuals to serve as officers and managers of the Employer; and the Plan is intended to constitute a plan which is unfunded and maintained by an employer primarily for the
purpose of providing deferred compensation for a select group of management or highly compensated employees within the meaning of, and as described in Section 201(2) and related provisions of ERISA. 
  
 The Plan is generally effective on May 15, 1997, but shall first apply to the deferral of
Compensation by Participants thereunder beginning on June 1, 1997. The Plan was amended and restated November 1, 1999, October 19, 2000 and February 15, 2001, and December 16, 2004. 
  
 ARTICLE II - DEFINITIONS 
  
 When used in this Plan and initially capitalized, the following words and phrases shall have the meanings indicated: 
  

	2.1	Account. 

  
 “Account” means the sum of a Participant’s Deferral Account and Matching Account under the Plan. 
  

	2.2	Base Salary. 

  
 “Base Salary” means a Participant’s basic wage or salary paid by an Employer to the Participant without regard to any increases or decreases in such basic wage or salary as a result of (i) an election
to defer basic wage or salary under this Plan or (ii) an election between benefits or cash provided under a plan of an Employer maintained pursuant to Sections 125 or 401(k) of the Code, and as limited in Exhibit B attached hereto. The Base Salary
does not include any Lump 

  

 
Sum Merit Award paid to a Participant, nor any Bonus, as defined in Section 2.5, below. 
  

	2.3	Beneficiary. 

  
 “Beneficiary” means the person or persons designated or deemed to be designated by the Participant pursuant to Article VII to receive benefits payable under the Plan in the event of the Participant’s
death. 
  

	2.4	Board. 

  
 “Board” means the Board of Directors of the Corporation. 
  

	2.5	Bonus. 

  
 “Bonus” means the cash bonus paid by the Employer to a Participant under the Key Employee Incentive Plan without regard to any decreases as a result of (i) an election to defer all or any portion of such
Bonus under this Plan or (ii) an election between benefits or cash provided under the Thrift Plan or any other plan of the Employer maintained pursuant to Section 401(k) of the Code. 
  

	2.6	Change in Control. 

  
 A “Change in Control” shall mean the occurrence of any of the following: 
  

	 	(a)	An acquisition (other than directly from the Corporation) of any voting securities of the Corporation (the “Voting Securities”) by any “Person” (as the term
person is used for purposes of Section 13(d) or 14(d) of the Exchange Act), immediately after which such Person has “Beneficial Ownership” (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of twenty percent (20%) or
more of the then outstanding Shares or the combined voting power of the Corporation’s then outstanding Voting Securities; provided, however, in determining whether a Change in Control has occurred pursuant to this Section 2.6, Shares or
Voting Securities which are acquired in a “Non-Control Acquisition” (as hereinafter defined) shall not constitute an acquisition which would cause a Change in Control. A “Non-Control Acquisition” shall mean an acquisition by (i)
an employee benefit plan (or a trust forming a part thereof) maintained by (A) the Corporation or (B) any corporation or other Person of which a majority of its voting power or its voting equity securities or equity interest is owned or controlled,
directly or indirectly, by the Corporation (for purposes of this definition, a “Related Entity”), (ii) the Corporation or any Related Entity, or (iii) any Person in connection with a “Non-Control Transaction” (as hereinafter
defined); 

  

	 	(b)	 The individuals who, as of February 15, 2001, are members of the Board of Directors (the “Incumbent Board”), cease for any reason to constitute at least a
majority of the members of the Board of Directors; or, following a Merger which 

  

 - 2 - 

	 	 
results in a Parent Corporation, the board of directors of the ultimate Parent Corporation; provided, however, that if the election, or nomination for
election by the Corporation’s common stockholders, of any new director was approved by a vote of at least two-thirds of the Incumbent Board, such new director shall, for purposes of this Plan, be considered as a member of the Incumbent Board;
provided further, however, that no individual shall be considered a member of the Incumbent Board if such individual initially assumed office as a result of either an actual or threatened “Election Contest” (as described in Rule
14a-11 promulgated under the Exchange Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board of Directors (a “Proxy Contest”), including by reason of any agreement intended
to avoid or settle any Election Contest or Proxy Contest; or 

  

	 	(c)	The consummation of: 

  
 (i) A merger, consolidation or reorganization with or into the Corporation or in which securities of the Corporation are issued ( a
“Merger”), unless such Merger is a “Non-Control Transaction.” A “Non-Control Transaction” shall mean a Merger where: 
  
 (A) the stockholders of the Corporation, immediately before such Merger, own directly or indirectly immediately following such Merger at
least fifty percent (50%) of the combined voting power of the outstanding voting securities of (x) the corporation resulting from such Merger (the “Surviving Corporation”) if fifty percent (50%) or more of the combined voting power of the
then outstanding voting securities of the Surviving Corporation is not Beneficially Owned, directly or indirectly by another Person (a “Parent Corporation”), or (y) if there is one or more Parent Corporations, the ultimate Parent
Corporation; 
  
 (B) the individuals who were
members of the Incumbent Board immediately prior to the execution of the agreement providing for such Merger constitute at least a majority of the members of the board of directors of (x) the Surviving Corporation, if there is no Parent Corporation,
or (y) if there is one or more Parent Corporations, the ultimate Parent Corporation; and 
  
 (C) no Person other than (1) the Corporation, (2) any Related Entity, (3) any employee benefit plan (or any trust forming a part thereof)
that, immediately prior to such Merger was maintained by the Corporation or any Related Entity, or (4) any Person who, immediately prior to such Merger had Beneficial Ownership of thirty percent (30%) or more of the then outstanding Voting
Securities or Shares, has Beneficial Ownership of thirty percent (30%) or more of the combined voting power of the outstanding voting securities or common stock of (x) the Surviving Corporation if there is no Parent Corporation, or (y) if there is
one or more Parent Corporations, the ultimate Parent Corporation. 
  
 (ii) A complete liquidation or dissolution of the Corporation; or 
  
 (iii) The sale or other disposition of all or substantially all of the assets of the Corporation to any Person (other than a transfer to a
Related Entity or under conditions that 

  

 - 3 - 

 
would constitute a Non-Control Transaction with the disposition of assets being regarded as a Merger for this purpose or the distribution to the
Corporation’s stockholders of the stock of a Related Entity or any other assets). 
  
 Notwithstanding the foregoing, 
  
 (A) A Change in
Control shall not be deemed to occur solely because any Person (the “Subject Person”) acquired Beneficial Ownership of more than the permitted amount of the then outstanding Shares or Voting Securities if: (1) such acquisition occurs as a
result of the acquisition of Shares or Voting Securities by the Corporation which, by reducing the number of Shares or Voting Securities then outstanding, increases the proportional number of shares Beneficially Owned by the Subject Person, provided
that if a Change in Control would occur (but for the operation of this subparagraph) as a result of the acquisition of Shares or Voting Securities by the Corporation, and after such share acquisition by the Corporation, the Subject Person becomes
the Beneficial Owner of any additional Shares or Voting Securities which increases the percentage of the then outstanding Shares or Voting Securities Beneficially Owned by the Subject Person, then a Change in Control shall occur, or (2) (a) within
five business days after a Change in Control would have occurred (but for the operation of this subparagraph), or if the Subject Person acquired Beneficial Ownership of twenty percent (20%) or more of the then outstanding Shares or the combined
voting power of the Corporation’s then outstanding Voting Securities inadvertently, then after the Subject Person discovers or is notified by the Corporation that such acquisition would have triggered a Change in Control (but for the operation
of this subparagraph), the Subject Person notifies the Board of Directors that it did so inadvertently, and (b) within two business days after such notification, the Subject Person divests itself of a sufficient number of Shares or Voting Securities
so that the Subject Person is the Beneficial Owner of less than twenty percent (20%) of the then outstanding Shares or the combined voting power of the Corporation’s then outstanding Voting Securities. 
  
 (B) A Change in Control shall not be deemed to occur if (1) the Shareholder
Group (as defined in the Shareholder Agreement) acquires Beneficial Ownership of fifteen percent (15%) or more of the Corporation’s Voting Securities pursuant to the terms of the Shareholder Agreement, by and between WAI, Inc. (now known as
ONEOK, Inc.) and Western Resources, Inc. dated as of November 26, 1997 (the “Shareholder Agreement”), until the earlier of (a) the termination of the Shareholder Agreement or (b) the successful consummation of a Buyout Tender Offer as
defined in Section 3.6(b) of the Shareholder Agreement, but upon either of such events, the acquisition or existence of such percentage of Beneficial Ownership by Western Resources, Inc. or any of its affiliates shall constitute a Change in Control
or (2) the equity securities of the Corporation owned by the Shareholder Group are in any manner restructured with the approval of a majority of the members of the Incumbent Board (excluding Shareholder Nominees, as defined in the Shareholder
Agreement). 
  
 Notwithstanding anything in this Plan to the contrary, if an
Eligible Employee’s employment is terminated by the Corporation without Just Cause prior to the date of a Change in Control but the Eligible Employee reasonably demonstrates that the termination (A) was at the request of a third party who has
indicated an intention or taken steps reasonably calculated to effect a Change in 

  

 - 4 - 

 
Control or (B) otherwise arose in connection with, or in anticipation of, a Change in Control which has been threatened or proposed, such termination shall
be deemed to have occurred after a Change in Control for purposes of this Plan provided a Change in Control shall actually have occurred. 
  

	2.7	Code. 

  
 “Code” means the Internal Revenue Code of 1986, and Treasury regulations thereunder, as amended from time to time. 
  

	2.8	Committee. 

  
 “Committee” means the Executive Compensation Committee of the Board of Directors of the Corporation. 
  

	2.9	Compensation. 

  
 “Compensation” means the Base Salary and Bonus payable with respect to an Eligible Employee for each calendar year. 
  

	2.10	Corporation. 

  
 “Corporation” means ONEOK, Inc., its successors and assigns, or any division or Subsidiary thereof. 
  

	2.11	Deferral Account. 

  
 “Deferral Account” means the account maintained on the books of the Employer for the purpose of accounting for the amount of Compensation that each Participant
elects to defer under the Plan and for the amount of investment return credited or debited thereto for each Participant in accordance with Article V. 
  

	2.12	Deferral Benefit. 

  
 “Deferral Benefit” means the benefit payable to a Participant or his or her Beneficiary pursuant to Article VI. 
  

	2.13	Determination Date. 

  
 “Determination Date” means a date on which the amount of a Participant’s Account is determined and updated as provided in Article V. Each December 31 of a
calendar year shall be the Determination Date. 
  

	2.14	Disability. 

  

 - 5 - 

 “Disability” shall mean a physical or mental condition of a Participant, which the Committee, in its sole
discretion, determines on the basis of medical evidence satisfactory to it, prevents the Participant from engaging in further employment by the Employer and that such disability will be permanent and continuous. 
  

	2.15	Employee. 

  
 “Employee” means an employee of the Corporation or a Subsidiary. 
  

	2.16	Eligible Employee. 

  
 “Eligible Employee” means a highly compensated or management employee of the Corporation who is designated by the Committee, by individual name, or group or
description, in accordance with Section 3.1, as eligible to participate in the Plan. 
  

	2.17	Employer. 

  
 “Employer” means, with respect to a Participant, the Corporation or the Subsidiary which pays such Participant’s Compensation. 
  

	2.18	ERISA. 

  
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 
  

	2.19	Exchange Act. 

  
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
  
 2.20 Fiscal Year. 
  
 “Fiscal Year” means the fiscal year of the Corporation which prior to January 1, 2000, was the fiscal year commencing September 1 and ending the following
August 31, and on and after January 1, 2000, is the fiscal year commencing January 1 and ending the following December 31. On and after January 1, 2000, the Fiscal Year and Plan Year (as defined below) shall be the same period commencing January 1
and ending the following December 31. 
  
 2.21 Investment Return Rate.

  
 “Investment Return Rate” means the rate of investment return to
be credited to a Participant’s Deferral Account and Matching Account pursuant to Section 5.2, which rate shall be specified in Section 5.3 and Exhibit “C” attached hereto. 
  

	2.22	Just Cause. 

  
 “Just Cause” shall mean the Employee’s conviction in a court of law of a felony, or any crime or 

  

 - 6 - 

 
offense in a court of law of a felony, or any crime or offense involving misuse or misappropriation of money or property, the Employee’s violation of
any covenant, agreement or obligation not to disclose confidential information regarding the business of the Corporation (or a division or Subsidiary); any violation by the Employee of any covenant not to compete with the Corporation (or a division
or Subsidiary); any act of dishonesty by the Employee which adversely affects the business of the Corporation (or a division or Subsidiary); any willful or intentional act of the Employee which adversely affects the business of, or reflects
unfavorably on the reputation of the Corporation (or a division or Subsidiary); the Employee’s use of alcohol or drugs which interferes with the Employee’s performance of duties as an employee of the Corporation (or a division or
Subsidiary); or the Employee’s failure or refusal to perform the specific directives of the Corporation’s Board, or its officers which directives are consistence with the scope and nature of the Employee’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 Employee’s employment at any time without cause. 
  

	2.23	KGS Deferred Compensation Plan. 

  
 “KGS Deferred Compensation Plan” means the KGS Deferred Compensation Plan of the Corporation which was merged into and succeeded by this Plan effective January
1, 1999. 
  

	2.24	KGS Deferred Benefit Account. 

  
 “KGS Deferred Benefit Account” means a Deferred Benefit Account of a Participant in the KGS Deferred Compensation Plan merged with the Plan January 1, 1999,
which shall be maintained, administered, paid and distributed in accordance with the provisions of Sections 5.6, 6.9 and other applicable provisions of the Plan not inconsistent therewith. 
  

	2.25	Key Employee Incentive Plan. 

  
 “Key Employee Incentive Plan” means the Key Employee Annual Incentive Plan of the Corporation. 
  

	2.26	Long-Term Deferral. 

  
 “Long-Term Deferral” means a deferral made by a Participant that is not a Short-Term Deferral. 
  

	2.27	Lump Sum Merit Award. 

  
 “Lump Sum Merit Award” means a Lump Sum Merit Award granted and paid to a Participant pursuant to the merit compensation program of the Corporation and its
Subsidiaries. 
  

	2.28	Matching Account. 

  

 - 7 - 

 “Matching Account” means the account maintained on the books of the Employer for the purpose of accounting for
the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V. 
  

	2.29	Matching Amount. 

  
 “Matching Amount” means the amount credited to a Participant’s Matching Account under Section 4.4. 
  

	2.30	Matching Percentage. 

  
 “Matching Percentage” means the matching contribution percentage in effect for a specific Plan Year under the Thrift Plan. 
  

	2.31	Participant. 

  
 “Participant” means any Eligible Employee who elects to participate by filing a Participation Agreement as provided in Section 3.2. 
  

	2.32	Participation Agreement. 

  
 “Participation Agreement” means the agreement filed by a Participant, in the form prescribed by the Committee, pursuant to Section 3.2. 
  

	2.33	Person. 

  
 “Person” means an individual, a trust, estate, partnership, limited liability company, association, corporation or other entity. 
  

	2.34	Plan. 

  
 “Plan” means this ONEOK, Inc. Employee Nonqualified Deferred Compensation Plan, as amended from time to time. 
  

	2.35	Plan Year. 

  
 “Plan Year” means a twelve-month period commencing January 1 and ending the following December 31; provided, that the first Plan Year of the Plan shall commence June 1, 1997, and end December 31, 1997.

  

	2.36	Retirement. 

  
 “Retirement” means the voluntary termination of employment of a Participant when retirement benefits become payable to the Participant under the Retirement Plan. 
  

 - 8 - 

	2.37	Retirement Plan. 

  
 “Retirement Plan” means the Retirement Plan for Employees of ONEOK, Inc. and Subsidiaries. 
  

	2.38	Shares. 

  
 “Shares” means the common stock, par value $0.01 per share, of the Corporation and any other securities into which such shares are changed or for which such shares are exchanged. 
  

	2.39	Short-Term Deferral. 

  
 “Short-Term Deferral” means a deferral elected by a Participant under which payment of the Deferral Benefit shall commence on a date specified by the
Participant, but not less than five (5) years after the Participant’s election thereof; provided, that the Committee, may, in its sole discretion, determine and direct that a shorter period, of not less than one (1) year, be applied to any
Short-Term Deferral. 
  

	2.40	Subsidiary. 

  
 “Subsidiary” means any corporation of which the Corporation owns, directly or indirectly, at least a majority of the shares of stock having voting power in the election of directors of such corporation.

  

	2.41	Thrift Plan. 

  
 “Thrift Plan” means the Thrift Plan for Employees of ONEOK, Inc. and Subsidiaries. 
  

	2.42	Trust. 

  
 “Trust” means a trust created and established pursuant to Section 11.2 of the Plan, or otherwise by the Corporation with respect to the Plan. 
  
 ARTICLE III - Eligibility and Participation 
  

	3.1	Eligibility. 

  
 Subject to Section 3.5, below, concerning the termination and freeze of the Plan effective December 31, 2004, eligibility to participate in the Plan shall be granted to those Eligible Employees who are designated by
the Committee and approved by the Board. Subject to Section 3.4, below (providing for exclusion of Employees not qualifying under certain definitional terms of federal law), the Committee shall adopt a complete written list and/or designation of the
Eligible Employees, by individual name or by reference to an identifiable group of persons or by descriptions of the components of compensation of an individual which would qualify the individuals who are eligible to participate, and all of whom
shall be a select group of management or highly compensated employees. The written list and/or designation of Eligible 

  

 - 9 - 

 
Employees by the Committee, as approved by the Board, from time to time, shall be adopted and maintained as provided in Exhibit A attached hereto.

  

	3.2	Participation. 

  
 Participation in the Plan shall be limited to Eligible Employees who elect to participate in the Plan by timely filing a Participation Agreement with the Committee. An
Eligible Employee shall commence participation in the Plan upon the first day of the Plan Year or Fiscal Year as the case may be, designated in his or her Participation Agreement filed with the Committee prior to the beginning of such Plan Year. The
Committee, with the Board’s approval, may in its sole discretion, allow individuals who become Eligible Employees after the beginning of a Plan Year to elect to participate in the Plan for the remaining part of such Plan Year. 

  

	3.3	Elections to Participate Irrevocable. 

  
 A Participant may not change a previously elected percentage of deferral of Compensation, or terminate his or her election to participate in the Plan for a Plan Year.
Except as may otherwise determined and approved by the Committee, a Participant’s election to defer Base Salary and Bonus shall only be effective as of the beginning of the next Plan Year following receipt of the Participant’s election by
the Corporation. Determinations on all elections and of any effective dates other than as specified above, shall be made by the Committee in accordance with its prevailing administrative procedures. 
  

	3.4	Exclusion from Eligibility. 

  
 Notwithstanding any other provisions of this Plan to the contrary, if the Committee determines that any Participant may not qualify as a “management or highly
compensated employee” within the meaning of ERISA, or regulations thereunder, the Committee may determine, in its sole discretion, that such Participant shall cease to be eligible to participate in this Plan. Upon such determination, the
Employer shall make an immediate lump sum payment to the Participant equal to the vested amount credited to the Participant’s Account. Upon such payment, no benefit shall thereafter be payable under this Plan either to the Participant or any
Beneficiary of the Participant, and all of the Participant’s elections as to the time and manner of payment of his or her Account will be deemed to be canceled. 
  

	3.5	Termination and Freeze of Plan. 

  
 Notwithstanding the foregoing, no Employee shall be designated as a new Eligible Employee or first become a Participant in the Plan after December 31, 2004. 

 
 ARTICLE IV - DEFERRAL OF COMPENSATION 
  

	4.1	Amount and Time of Deferral. 

  
 Subject to the provisions of Section 4.6, below, concerning the termination and freeze of the Plan 

  

 - 10 - 

 
effective December 31, 2004, with respect to each Plan Year, a Participant may elect to defer a specified percentage of his or her Compensation up to the
percentage of Compensation stated, and subject to the terms described in Exhibit B attached hereto; provided, that each Participant must elect a minimum deferral of two percent (2%) of his or her Base Salary for a Plan Year, and elect a minimum
deferral of ten percent (10%) of all or the portion above a specified threshold of a Participant’s Bonus for a Plan Year, and all deferrals elected must be in one percent (1%) increments of Compensation. Except as otherwise determined by the
Committee and expressly stated in pertinent documents governing such elections approved by the Committee, a Participant’s election to defer that part of Compensation which constitutes Base Salary for a Plan Year shall be made prior to the first
day of that Plan Year; and a Participant’s election to defer that part of Compensation which constitutes Bonus for a Plan Year shall be made prior to the first day of that Plan Year. Unless otherwise specifically stated in a Participant’s
election to defer Compensation, an election to defer Compensation of Base Salary shall apply only to the next Plan Year following such election, and an election to defer Bonus shall apply only to the next Plan Year following such election. Except as
otherwise directed by the Committee, Participants in the Plan shall make separate and new elections to defer Base Salary and Bonus each Plan Year. For the Fiscal Years of the Corporation beginning prior to January 1, 2000, all requirements for
timing of elections of Participants to defer Bonus which were heretofore provided by the Plan with respect to such Fiscal Years shall remain applicable and effective unless otherwise determined and directed by the Committee, in its sole discretion.
For the Plan Year and Fiscal Year in which the Plan is initially established, a Participant may elect to defer compensation to be paid to the Participant for services to be performed by the Participant in such Plan Year or Fiscal Year after such
election if such election is made on or before May 31, 1997. 
  

	4.2	Deferral Periods. 

  
 A Participant shall be allowed to defer Compensation under the Plan by making either a Long-Term Deferral or a Short-Term Deferral. The Participant shall elect and
designate his or her deferral period as either a Long-Term Deferral or a Short-Term Deferral in the Participation Agreement filed with the Committee for a Plan Year. 
  

	4.3	Committee Authority; Deferral of Compensation. 

  
 Notwithstanding anything to the contrary expressed or implied in the Plan, the Committee may, in its sole discretion, determine and direct that the amount of deferral and
period of deferral which may be elected for Compensation, Base Salary or Bonus payable to Participants for any particular Plan Year or Fiscal Year, or other period of service, be limited to an amount or amounts, and for a period or periods other
than that which is otherwise generally provided herein; and the Committee may from time to time, in its sole discretion, also determine and direct that all or part of the Bonus payable to Participants for any period of service shall be deferred only
for the period or periods of deferral determined solely by the Committee without any election thereon by Participants. 
  

	4.4	Matching Amounts. 

  

 - 11 - 

 The Employer shall provide and credit a Matching Amount under this Plan with respect to each Participant who is eligible
to be allocated matching contributions under the Thrift Plan; except that the Committee may, prior to any Plan Year, make a determination not to provide for the crediting of Matching Amounts for that Plan Year. The Matching Amount to be credited to
a Participant’s Matching Account for a Plan Year shall be an amount equal to the excess of (i) the Participant’s matching contribution percentage under the Thrift Plan for the Plan Year multiplied by the Participant’s Compensation
from the Employer in that Plan Year, over (ii) the amount of Thrift Plan matching contributions made by the Employer that are allocated to the Participant’s Thrift Plan account for that Plan Year; it being intended that a Participant shall have
credited to his or her Matching Account the amount of matching contributions which could not be allocated to the Participant’s Thrift Plan account for the Plan Year by reason of all limitations on compensation and contributions applicable to
Thrift Plan matching contributions under the Code and Treasury regulations thereunder. 
  

	4.5	Crediting Deferred Compensation and Matching Amounts. 

  
 The amount of Compensation that a Participant elects to defer from Base Salary under the Plan shall be credited by the Employer to the Participant’s Deferral Account
monthly (or, on and after January 1, 2001, as of the date such amounts would have otherwise been paid to the Participant), provided that the Employer shall reduce the deferral amount credited by the amount of any taxes or other amounts required to
be withheld by the Employer from a Participant’s deferred Compensation pursuant to any state, federal or local law. The Matching Amount under the Plan for each Participant under Section 4.4 shall be credited by the Employer no later than the
time that matching contributions are allocated under the Thrift Plan. The amount of compensation that a Participant elects to defer from Bonus under the Plan shall be credited by the Employer to the Participant’s Deferral Account at the time
the Bonus is paid to the Participant under the Key Employee Incentive Plan. 
  

	4.6	Termination and Freeze of Plan. 

  
 Notwithstanding the foregoing or any other provisions of the Plan, no Eligible Employee or Participant shall defer any Compensation under the Plan for a Plan Year or
taxable year that commences after December 31, 2004. 
  
 ARTICLE V - BENEFIT ACCOUNTS 
  

	5.1	Determination of Account. 

  
 As of each Determination Date, a Participant’s Account shall consist of the balance of the Participant’s Account as of the immediately preceding Determination
Date, plus the Participant’s deferred Compensation and Matching Amount credited pursuant to Section 4.4 since the immediately preceding Determination Date, plus investment return credited as of such Determination Date pursuant to Section 5.2,
minus the aggregate amount of distributions, if any, made from such Account since the immediately preceding Determination Date. 
  

 - 12 - 

	5.2	Crediting of Investment Return; Other Items to Participant Accounts. 

  
 The Deferral Account and Matching Account of each Participant shall be periodically credited and increased, or debited and reduced, as the
case may be, by the amount of investment return specified under Section 5.3. The Deferral Account and Matching Account of each Participant shall also be debited and credited for any deemed purchases or sales of, or other deemed transactions
involving securities provided for under the Plan. The Deferral Account and Matching Account shall be so credited and debited not less frequently than monthly in the manner established and determined from time to time by the Committee, in its sole
discretion. The manner in which the Committee determines that Participants” accounts shall be so debited or credited shall be described in written rules or procedures which shall be stated from time to time by a written description thereof
which shall be attached to this Plan as Exhibit “D,” and furnished to the Participants in the Plan. 
  

	5.3	Investment Return Rate; Designated Deemed Investment. 

  
 The Investment Return Rate shall be determined in the manner specified in Exhibit “C” attached hereto. 
  
 To the extent the Investment Return Rate specified in Exhibit “C” attached hereto,
applied to a Participant’s deferrals includes a rate that is to be determined from deemed investment of such Participant’s Account in investment options specified therein, the Committee shall prescribe the manner and form in which a
Participant may designate the deemed investment of deferrals and other amounts in his or her Account. A Participant will be allowed to change such designation of deemed investment monthly or with such other frequency as specified by the Committee,
in its sole discretion. Provided, that notwithstanding anything to the contrary stated or implied by the Plan, including all Exhibits thereto, the use, reference to or consideration of any such deemed investments made by the Committee or Plan, or
designated by Participants, the Committee and the Corporation shall not be obligated to make or cause to be made any particular type or form of investment with respect to the funding or payment of the Deferral Benefits or Deferral Accounts of
Participants under the Plan, and no Participant shall have the right to direct or in any manner control any actual investments, if any, made by the Employer or any other person for purposes of providing funds for paying liabilities of the Employer
for benefits or otherwise under the Plan. No Participant shall have any ownership or beneficial interest in any such actual investments made by the Employer. 
  

	5.4	Statement of Accounts. 

  
 The Committee shall provide to each Participant in the Short-Term Deferral Plan within 120 days after the close of each Plan Year, a statement setting forth the balance
of such Participant’s Account as of the Determination Date of the preceding Plan Year and showing all adjustments made thereto during such Plan Year. The Committee shall provide to each Participant in the Long-Term Deferral Plan, not less
frequently than quarterly, a statement setting forth the balance of such Participant’s Account as of the last date of the preceding quarter in any Plan Year and showing all adjustments made thereto during such quarter of any Plan Year.

  

 - 13 - 

	5.5	Vesting of Account. 

  
 Except as provided in Sections 11.1 and 11.2, below, a Participant shall be 100% vested in his or her Deferral Account and Matching Account at all times. 
  

	5.6	Administration and Crediting of KGS Deferred Benefit Accounts. 

  

Each Deferred Benefit Account previously maintained and existing under the KGS Deferred Compensation Plan on December 31, 1998, shall become a KGS Deferred Benefit
Account under the Plan and be maintained and administered under the Plan on and after January 1, 1999. The KGS Deferred Benefit Account of a Participant shall be maintained and administered in accordance with, and be subject to all the terms and
provisions of the Plan on and after January 1, 1999. Notwithstanding anything to the contrary expressed or implied in the Plan, on and after January 1, 2000, interest shall be credited to each such KGS Deferred Benefit Account for amounts therein
which would have constituted a Short-Term Deferral, if such amounts had been deferred under this Plan, at the same rate as the Investment Return Rate specified for a Participant’s Short-Term Deferral under the provisions of paragraph A. of
Exhibit C to the Plan; and interest shall be credited to each such KGS Deferred Benefit Account for amounts therein which would have been a Long-Term Deferral, if such amounts had been deferred under this Plan, at the same rate as the Investment
Rate specified for a Participant’s Long-Term Deferral under the provisions of paragraph B.1. of Exhibit C to the Plan. Such interest shall be credited to KGS Deferred Benefit Accounts of Participants in accordance with Section 5.2, above.

  
 ARTICLE VI - PAYMENT OF BENEFITS 
  

	6.1	Payment of Long-Term Deferred Benefit; Retirement Eligible Participant. 

  
 Upon the termination of service as an Employee of the Employer by a Participant who is then entitled to commence receiving payment of a
fully vested benefit under the Retirement Plan, the Employer shall pay to the Participant a Deferral Benefit in the form of benefit payment specified in the Participant’s written election pursuant to Section 6.5. 
  

	6.2	Payment of Short-Term Deferral Benefit. 

  
 A Short-Term Deferral shall be paid to a Participant beginning on the date specified by the Participant in his or her Participation Agreement, and shall be paid in the
form of benefit payment specified in the Participant’s written election pursuant to Section 6.5; provided, that no part of a Short-Term Deferral may be paid prior to five (5) years following the Participant’s election thereof. 

 

	6.3	Payment of Deferral Benefit upon Disability or Death. 

  
 Upon the Disability of a Participant, the Employer shall pay to the Participant, or the Participant’s personal representative, a Deferral Benefit in annual payments
for either five (5) or fifteen (15) years, or in a single lump sum equal to the balance of the Participant’s Account 

  

 - 14 - 

 
determined pursuant to Article V, less any amounts previously paid and distributed. The Participant with a Disability, or the disabled Participant’s
personal representative, shall elect which term of payment is to be paid. Upon the death of a Participant the Participant’s Account shall be paid to the Participant’s Beneficiary. If the Participant has elected Long-Term Deferral the
Deferral Benefit shall be paid to the Beneficiary over the time period elected by the Participant commencing as soon as practicable after the time of death of the Participant. If the Participant has elected a Short-Term Deferral the Deferral Benefit
shall be paid to the Beneficiary in a single lump sum payment. 
  

	6.4	Lump Sum Payment of Deferral Benefit Upon Termination of Employment; Participant Not Eligible for Vested Retirement Plan Benefits. 

  
 Upon the termination of service of a Participant as an Employee of the Employer prior to the
time such Participant is entitled to commence receiving payment of a fully vested benefit under the Retirement Plan, and not by reason of such Participant’s Disability or death, the Employer shall pay to the Participant a Deferral Benefit equal
to the balance of the Participant’s vested Account determined pursuant to Article V, less any amounts previously paid and distributed, in a single lump sum. This payment shall be made notwithstanding any other period or time of payment that has
been elected by the Participant. 
  

	6.5	Form of Payment. 

  
 The Deferral Benefit payable to a Participant shall be paid in one of the following forms, as elected by the Participant in his or her Participation Agreement on file as
of one (1) year and one (1) day prior to the date of termination: 
  

	 	(a)	For Participants who elect a Long-Term Deferral, the Deferral Benefit shall be paid in one of the following elected forms: 

  

	 	(1)	In annual payments of the vested Account balance, on and after the payment commencement date over a period of either five (5) or fifteen (15) years (together, in the case of each
annual payment, with investment return thereon credited after the payment commencement date pursuant to Section 5.2), with the amount of each such annual payment to be determined by multiplying the remaining principal amount and undistributed income
in the Participant’s Account by a fraction, the numerator of which is one (1) and the denominator of which shall be the number of remaining annual payments, including the payment then being calculated; or 

  

	 	(2)	A lump sum. 

  

	 	(b)	For Participants who elect a Short-Term Deferral, the Deferral Benefit shall be paid in one of the following elected forms: 

  

	 	(1)	 Annual payments of a fixed amount which shall amortize the vested Account balance, on and after the payment commencement date over a period of from one (1) to four
(4) years (together, in the case of each annual payments with investment return thereon credited after the payment commencement to Section 5.2), with the amount of each such annual payment to be determined by multiplying the remaining principal
amount 

  

 - 15 - 

	 	 
and undistributed income in the Participant’s Account by a fraction, the numerator of which is one (1) and the denominator of which shall be the number
of remaining annual payments, including the payment then being calculated; or 

  

	 	(2)	A lump sum. 

  

	6.6	Commencement of Payments. 

  
 Except as otherwise provided in Section 6.2 (minimum five (5) year deferral), the commencement of payments under Sections 6.1 through 6.4, above, shall begin within sixty
(60) days following receipt of written notice by the Committee of an event which entitles a Participant (or a Beneficiary) to payments under the Plan. 
  

	6.7	Additional Amount As To Certain Retirement Plan Participants. 

  

The Corporation shall pay to a Participant or his or her survivor beneficiary, as the case may be, an additional amount equal to the amount by which such
Participant’s retirement benefit under the Retirement Plan is reduced by reason of the deferred compensation elected by the Participant under the Plan not being taken into account in the calculation of such Participant’s retirement benefit
under the Retirement Plan, but only if such deferred compensation is not taken into account in determining a retirement benefit or payment payable to such Participant under the ONEOK, Inc. Supplemental Executive Retirement Plan (SERP) nor under any
other plan, arrangement or agreement of the Corporation other than this Plan. An additional amount payable to a Participant, or his or her beneficiary, under this Section 6.7 shall be paid at the same time and in the same form as such
Participant’s retirement benefit is paid under the Retirement Plan. This Section 6.7 shall apply with respect to such Retirement Plan benefits paid to Participants in this Plan on and after June 1, 1997. 
  

	6.8	Specific Term Deferrals. 

  
 The Corporation may, from time to time, offer to Participants the opportunity to otherwise defer specific amounts of Base Salary or Bonus for a specific duration and to
then be paid out in installments prior to Retirement. These deferrals will be accounted for separately and will be paid out pursuant to an election that applies only to that deferral. The specific terms of each offering will be described in a
written memorandum that will be attached to this document. Except where specifically provided otherwise in such memorandum, the terms of such deferrals will adhere to all of the other provisions of the Plan. 
  

	6.9	Payment of KGS Deferred Benefit Accounts. 

  
 The KGS Deferred Benefit Account of any Participant shall be paid and distributed in accordance with the pertinent terms and provisions of the KGS Deferred Compensation
Plan governing distribution and payment of Deferred Benefit Accounts to Participants thereunder in effect as of December 31, 1998, and the elections made by a Participant in his or her KGS Deferred Compensation Plan Participation Agreement and
Beneficiary Designation, all of which are 

  

 - 16 - 

 
incorporated herein by reference; provided however, that notwithstanding the foregoing, the KGS Deferred Benefit Account of any participant who terminates
employment with the Corporation, or has terminated employment with the Corporation at any time prior to January 1, 2000, other than by Retirement or by reason of Disability or death, shall on and after that date be paid and distributed in a lump sum
payment in like manner and at the time otherwise provided for under Section 6.4 of the Plan. Any such Beneficiary Designation for a KGS Deferred Benefit Account may be changed by a Participant to the extent otherwise permissible under the Plan.

  

	6.10	Hardship Payment of Deferrals. 

  
 In the case of hardship, a Participant may apply in writing to the Corporation, or its designated agent, for the immediate distribution of all or part of his or her
Deferral Benefit. Such a hardship distribution, however, will involve a substantial penalty, and each such distribution from the Participant’s Deferral Benefit made under this provision shall be reduced by a penalty equal to six percent (6%) of
the total amount of the distribution. The amount of the penalty shall be forfeited by the Participant. In addition, the Participant must continue to defer Compensation subsequent to such distribution in accordance with the Participant’s
election and will not be permitted to elect to defer Compensation attributable to the calendar year subsequent to the calendar year of the distribution. The Corporation shall have the sole discretion as to whether such distribution shall be made,
and its determination shall be final and conclusive. In making its determinations, the Corporation shall follow a uniform and nondiscriminatory practice. 
  
 ARTICLE VII - BENEFICIARY DESIGNATION 
  
 7.1 Beneficiary Designation. 
  
 Each Participant shall have the right, at any time, to designate any person or persons as his or her Beneficiary to whom payment under the Plan shall be made in the event
of the Participant’s death prior to complete distribution to the Participant of his or her Account. Any Beneficiary designation shall be made in a written instrument provided by the Committee. All Beneficiary designations must be filed with the
Corporation and shall be effective only when received in writing by the Corporation. 
  

	7.2	Amendments. 

  
 Any Beneficiary designation may be changed by a Participant by the filing of a new Beneficiary designation, which will cancel all the Participant’s prior Beneficiary designations filed with the Committee.

  

	7.3	No Designation. 

  
 If a Participant fails to designate a Beneficiary as provided above, or if all designated Beneficiaries predecease the Participant, then the Participant’s designated
Beneficiary shall be deemed to be the Participant’s estate. 
  

 - 17 - 

	7.4	Effect of Payment. 

  
 Payment to a Participant’s Beneficiary (or, upon the death of a primary Beneficiary, to the contingent Beneficiary or, if none, to the Participant’s estate)
shall completely discharge the Employer’s obligations under the Plan. 
  
 ARTICLE VIII - ADMINISTRATION 
  

	8.1	Plan Committee; Duties. 

  
 The administrative committee for the Plan shall be those members of the Committee who are not Participants, as long as there are at least three (3) such members. If there
are not at least three (3) such non-participating persons on the Committee, the Chief Executive Officer of the Corporation shall appoint other non-participating Directors or Corporation officers to serve on the Committee. The Committee shall
supervise the administration and operation of the Plan, may from time to time adopt rules and procedures governing the Plan and shall have authority to give interpretive rulings with respect to the Plan. The Committee shall have such other powers
and duties as are specified in this Plan as the same may from time to time be constituted, and not in limitation but in amplification of the foregoing, the Committee shall have power, to the exclusion of all other persons, to interpret the
provisions of this instrument, to decide any disputes which may arise hereunder; to construe and determine the effect of Participant Agreements, elections, beneficiary designations, and other actions and documents; to determine all questions that
shall arise under the Plan, including questions as to the rights of Employees to become Participants, as to the rights of Participants, and including questions submitted by the trustee of a Trust created under Section 11.2 on all matters necessary
for it properly to discharge its duties, powers, and obligations; to employ legal counsel, accountants, consultants and agents; to establish and modify such rules, procedures and regulations for carrying out the provisions of the Plan not
inconsistent with the terms and provisions hereof, as the Committee may consider proper and desirable; and in all things and respects whatsoever, without limitation, to direct the administration of the Plan and any such Trust with the trustee being
subject to the direction of the Committee. The Committee may supply any omission or reconcile any inconsistency in this instrument in such manner and to such extent as it shall deem expedient to carry the same into effect and it shall be the sole
and final judge of such expediency. The Committee may adopt such rules and regulations with respect to the signature by an Employee, Participant and/or Beneficiary as to any agreements, elections or other papers to be signed by Employees or
Participants or Beneficiaries and similar matters as the Committee shall determine in view of the laws of any state or states. Any act which this instrument authorizes or requires the Committee to do may be done by a majority of the then members of
the Committee. The action of such majority of the members expressed either by a vote at a meeting or in writing without a meeting, shall constitute the action of the Committee and shall have the same effect for all purposes as if assented to by all
of the members of the Committee at the time in office, provided, however, that the Committee may, in specific instances, authorize one (1) of its members to act for the Committee when and if it is found desirable and convenient to do so. 

 

	8.2	Agents. 

  

 - 18 - 

 The Committee may appoint an individual, who may be an employee of the Corporation, to be the Committee’s agent with
respect to the day-to-day administration of the Plan. In addition, the Committee may, from time to time, employ other agents and delegate to them such administrative duties as it sees fit, and may from time to time consult with counsel who may be
counsel to the Corporation. 
  

	8.3	Binding Effect of Decisions. 

  
 Any decision or action of the Committee with respect to any question arising out of or in connection with the administration, interpretation and application of the Plan
shall be final and binding upon all persons having any interest in the Plan. 
  

	8.4	Indemnity of Committee. 

  
 The Corporation shall indemnify and hold harmless the members of the Committee and their duly appointed agents under Section 8.2 against any and all claims, loss, damage,
expense or liability arising from any action or failure to act with respect to the Plan, except in the case of gross negligence or willful misconduct by any such member or agent of the Committee. 
  
 ARTICLE IX - MERGER AND CONSOLIDATION 
  
 The KGS Deferred Compensation Plan, which was frozen and terminated December 31, 1998, shall
be merged and consolidated with this Plan on and after January 1, 1999, and the Corporation shall then assume and pay all deferred compensation and benefits accrued for participants under the KGS Deferred Compensation Plan on December 31, 1998, in
accordance with the pertinent terms and provisions of this Plan. 
  
 ARTICLE X - AMENDMENT AND TERMINATION OF PLAN 
  

	10.1	Amendment. 

  
 The Corporation, on behalf of itself and of each Subsidiary may at any time amend, modify, suspend or reinstate any or all of the provisions of the Plan, except that no such amendment, modification, suspension or
reinstatement may adversely affect any Participant’s Account, as it existed as of the day before the effective date of such amendment, modification, suspension or reinstatement, without such Participant’s prior written consent. Written
notice of any amendment or other action with respect to the Plan shall be given to each Participant. 
  

	10.2	Termination. 

  

	 	(a)	 The Corporation, on behalf of itself and of each Subsidiary, in its sole discretion, may terminate this Plan at any time and for any reason whatsoever. Upon
termination of the Plan, the Committee shall take those actions necessary to 

  

 - 19 - 

	 	 
administer any Participant Accounts existing prior to the effective date of such termination; provided, however, that a termination of the Plan shall not
adversely affect the value of a Participant’s Account, the crediting of investment return under Section 5.2, or the timing or method of distribution of a Participant’s Account, without the Participant’s prior written consent.
Notwithstanding the foregoing, a termination of the Plan shall not give rise to accelerated or automatic vesting of any Participant’s Matching Account. 

  

	 	(b)	Pursuant to the foregoing provisions of paragraph (a) of this Section 10.2, by action of the Board of Directors of the Corporation on December 16, 2004, the Plan is terminated and
frozen so that no Employee shall commence participation in the Plan, and no Participant shall defer any Compensation under the Plan, after December 31, 2004. The Compensation deferred by Participants pursuant to the Plan on or before December 31,
2004, shall continue to be deferred, administered, paid and distributed in accordance with all the applicable terms and provisions of the Plan. 

  
 ARTICLE XI - PLAN EFFECT, LIMITATIONS, MISCELLANEOUS PROVISIONS 
  

	11.1	Nature of Employer Obligation; Funding. 

  
 Participants, their Beneficiaries, and their heirs, successors and assigns, shall have no secured interest or claim in any property or assets of the Employer. The
Employer’s obligation under the Plan shall be merely that of an unfunded and unsecured promise of the Employer to pay money in the future. 
  

	11.2	Trusts. 

  
 Notwithstanding the foregoing, in the event of a Change in Control, the Corporation shall create an irrevocable Trust, or before such time the Corporation may create an irrevocable or revocable Trust, to hold funds to
be used in payment of the obligations of Employers under the Plan. In the event of a Change in Control or prior thereto, the Employers shall fund such Trust in an amount equal to not less than the total value of the Participants’ Accounts under
the Plan as of the Determination Date immediately preceding the Change in Control, provided that any funds contained therein shall remain liable for the claims of the general creditors of the respective Employers. Pursuant to this Section 11.2 the
Corporation may, without further reference to or action by any Employee, Participant, or any Beneficiary from time to time enter into such further agreements with a trustee or other parties, and make such amendments to said trust agreement or such
further agreements, as the Corporation may deem necessary or desirable to carry out the Plan; from time to time designate successor trustees of such a Trust; and from time to time take such other steps and execute such other instruments as the
Corporation may deem necessary or desirable to carry the out the Plan. The Committee shall advise the trustee of any such Trust in writing with respect to all Deferral Benefits which become payable under the terms of the Plan and shall direct the
trustee to pay such Deferral Benefits from the respective Participants’ Accounts, and the Committee shall have authority to otherwise deal with and direct the trustee of 

  

 - 20 - 

 
such a Trust in matters pertinent to the Plan. It is intended that any Trust created hereunder is to be treated as a “grantor” trust under the
Code, and the establishment of such a Trust is not intended to cause a Participant to realize current income on amounts contributed thereto, such a Trust is not intended to cause the Plan to be “funded” under ERISA and the Code, and any
such Trust shall be so interpreted. 
  

	11.3	Nonassignability. 

  
 No right or interest under the Plan of a Participant or his or her Beneficiary (or any person claiming through or under any of them), shall be assignable or transferable
in any manner or be subject to alienation, anticipation, sale, pledge, encumbrance or other legal process or in any manner be liable for or subject to the debts or liabilities of any such Participant or Beneficiary. If any Participant or Beneficiary
shall attempt to or shall transfer, assign, alienate, anticipate, sell, pledge or otherwise encumber his or her benefits hereunder or any part thereof, or if by reason of his or her bankruptcy or other event happening at any time such benefits would
devolve upon anyone else or would not be enjoyed by him or her, then the Committee, in its discretion, may terminate such Participant’s or Beneficiary’s interest in any such benefit (including the Deferral Account) to the extent the
Committee considers necessary or advisable to prevent or limit the effects of such occurrence. Termination shall be effected by filing a written instrument with the Secretary of the Corporation and making reasonable efforts to deliver a copy to the
Participant or Beneficiary whose interest is adversely affected (the “Terminated Participant”). 
  
 As long as the Terminated Participant is alive, any benefits affected by the termination shall be retained by the Employer and, in the Committee’s sole and absolute judgment, may be paid to or expended for the
benefit of the Terminated Participant, his or her spouse, his or her children or any other person or persons in fact dependent upon him or her in such a manner as the Committee shall deem proper. Upon the death of the Terminated Participant, all
benefits withheld from him or her and not paid to others in accordance with the preceding sentence shall be disposed of according to the provisions of the Plan that would apply if he or she died prior to the time that all benefits to which he or she
was entitled were paid to him or her. 
  

	11.4	Code Section 409A Requirements. 

  
 The Plan is not intended to be subject to the requirements of Code Section 409A with respect to Compensation deferred under the Plan pursuant to its terms
on or before December 31, 2004, except to the extent guidance issued under Code Section 409A(f) is applicable to the maintenance and administration of the Plan. Except for the amendment of the Plan to terminate and freeze participation and deferrals
under the Plan effective December 31, 2004, no other material amendment or modification of the Plan after October 3, 2004, is intended, nor to be given effect, unless it is made or allowed pursuant to such guidance. The Plan shall be construed and
administered in a manner consistent with this Section 11.4. 
  

	11.5	Captions. 

  
 The captions contained herein are for convenience only and shall not control or affect the meaning or construction hereof. 
  

 - 21 - 

	11.6	Governing Law. 

  
 The provisions of the Plan shall be construed and interpreted according to the laws of the State of Oklahoma. 
  

	11.7	Successors. 

  
 The provisions of the Plan shall bind and inure to the benefit of the Corporation, its Subsidiaries, and their respective successors and assigns. The term “successors” as used herein shall include any
corporate or other business entity which shall, whether by merger, consolidation, purchase or otherwise, acquire all or substantially all of the business and assets of the Corporation or a Subsidiary and successors of any such corporation or other
business entity. 
  

	11.8	No Right to Continued Service. 

  
 Nothing contained herein shall be construed to confer upon any Eligible Employee the right to continue to serve as an Eligible Employee of the Employer or in any other
capacity. 
  

 - 22 - 

			
	ONEOK, Inc.
		
	By:	 	 
	 	 	 David Kyle
 Chairman of the Board,
 Chief Executive Officer and President

  

 - 23 - 

  
 EXHIBIT A

  
 ONEOK, Inc. 
 EMPLOYEE NONQUALIFIED DEFERRED COMPENSATION PLAN 
  
 Re: Section 3.1 - Eligible Employees 
 Effective Date: January 20, 2000 
  
 Except as otherwise specifically
determined by the Committee, Eligible Employees who may participate in the Plan shall be designated in writing by the Chief Executive Officer, or his designee, each Plan Year during the period after November 1 and prior to the next January 1
(“Designation Period”), with such designation to indicate the Eligible Employees for the Fiscal Year next following such Designation Period who shall be each Employee who (i) had Base Salary on November 1 of that Plan Year, which places
such Employee in the group of Employees consisting of the top two percent (2%) of the Employees when ranked on the basis of Base Salary, (ii) is designated on such November 1 to be at least within Pay Grade 12 or its deemed equivalent, as
established by the Corporation, and (iii) is so designated by name in writing in an instrument signed by the Chief Executive Officer of the Corporation, or his designee. The Corporation’s designation of Eligible Employees for a Plan Year shall
be reported to and approved by the Board in accordance with its directions. 
  
 An
Employee must be an Eligible Employee prior to the beginning of a Plan Year in order to participate in the Plan for such Plan Year, unless otherwise determined by the Committee and approved by the Board. 
  
 A list of the Eligible Employees who are so designated and approved for a Plan Year shall be
made by the Chief Executive Officer, or his designee, the Committee, or by a duly authorized representative of the Committee, and be maintained with the Plan in the records of the Corporation. 
  

  
 EXHIBIT B

  
 ONEOK, Inc. 
 EMPLOYEE NONQUALIFIED DEFERRED COMPENSATION PLAN 
  
 Re: Section 4.1 - Amount of Deferral 
 Effective Date: January 1, 1999   
  
 As of the date above, and
effective until this Exhibit is modified by the Committee and Board, the table below indicates the types of Compensation that are eligible for deferral at the designated percentages stated: 
  

					
	 Type of Compensation

	  	Minimum Percentage
That Must Be Deferred

	 	Maximum Percentage
That May be Deferred

	 Base Salary
	  	2%	 	*100%
	 Bonus (or the portion above a specified threshold)
	  	10%	 	*100%

  
 A Participant may defer Compensation
only in 1% increments of Base Salary and/or Bonus. 
  

	*	The Participant’s deferral shall be after deductions and withholding of amounts applicable to deferrals made by the Participant pursuant to other employee benefit plans of the
Employer under Code Sections 125 and 401(k), and after deduction and withholding of all income and employment taxes required, as determined by the Committee and Employer, under uniform rules and procedures. 

  

 - 2 - 

  
 EXHIBIT C

  
 ONEOK, Inc. 
 EMPLOYEE NONQUALIFIED DEFERRED COMPENSATION PLAN 
  
 Re: Section 2.21 - Investment Return Rate 
 Date: July 1, 1999 
  

	A.	Short-Term Deferrals 

  
 For amounts deferred by a Participant as a Short-Term Deferral, the Investment Return Rate for the time period from June 1, 1997 through December 31,
1997, is the Five-Year Treasury Bond Rate on the first day of June 1997. The rate credited during each successive calendar year will be the Five-Year Treasury Bond Rate as of the first business day of January of that year. 
  

	B.	Long-Term Deferrals 

  
 The Investment Return Rate on a Participant’s Long-Term Deferral shall be the rate determined pursuant to the following: 
  

	 	1.	For amounts deferred by a Participant as a Long-Term Deferral the Investment Return Rate for the time period from June 1, 1997 through December 31, 1997, the Moody’s AAA
30-Year Bond Index as published in The Wall Street Journal on June 1, 1997, plus 100 basis points. The rate credited during each successive calendar year will be the published Moody’s AAA 30-Year Bond Index as of January 1 of that year
plus 100 basis points; provided, that such rate shall be credited to amounts deferred by a Participant on and after July 1, 1999, only if such rate is elected by the Participant, as herein provided. 

  

	 	2.	On and after July 1, 1999, a Participant may elect to have the Investment Return Rate on his or her Long-Term Deferral be an amount which is essentially equivalent to the amount of
gains, losses and earnings that would result if the Participant’s Deferred Compensation Account was at all times invested in the investment options available under the Thrift Plan which are to be designated under this Plan by the Participant.

  
 Provided, that notwithstanding anything to
contrary expressed or implied herein, on and after May 1, 2004, a Participant may not elect to have the Investment Return Rate on his or her Long-Term Deferral be an amount that is directly or indirectly equivalent to or based upon the amount of
gains, losses and earnings that would result if the Participant’s Deferred Compensation Account was invested in ONEOK, Inc. Common Stock as an investment option available under 

  

 - 3 - 

 
the Thrift Plan or otherwise; and provided, further, that any amount of a Participant’s Long-Term Deferrals in his or her Deferred Compensation Account
that is deemed invested in ONEOK, Inc. Common Stock as an available Thrift Plan investment option as of May 1, 2004, pursuant to an election made by the Participant under the Plan prior to that date, shall continue to be deemed invested in that
investment option unless and until changed by the Participant pursuant to the election rights provided for herein. 
  
 A Participant electing a Long-Term Deferral Investment Return Rate under this paragraph 2 shall so designate such deemed investment of his/her Deferred
Compensation Account in the manner and form, and at such times as prescribed by the Committee. A Participant shall be allowed to change such designation at least once each calendar quarter, or more frequently as determined by the Committee, in its
sole discretion. Such Investment Return Rate shall be determined and calculated in the manner determined by the Committee, in its sole discretion, and added to or deducted from the Participant’s Deferred Compensation Account periodically, not
less frequently than annually. Such Investment Return Rate shall be so credited to or deducted from a Participant’s Deferred Compensation Account until all payments with respect thereto have been made to the Participant, or to the
Participant’s designated Beneficiary pursuant to the Plan. The Employer shall not be liable or otherwise responsible for any decrease in a Participant’s Deferred Compensation Account because of the investment performance resulting from
application of the foregoing provisions which make the Investment Return Rate on a Participant’s Long-Term Deferrals under the Plan equivalent to the investment return that is realized by deemed investment of the Participant’s Deferred
Compensation Account in Thrift Plan investment options designated by the Participant. 
  
 Notwithstanding the foregoing, the Employer shall not be required to actually invest amounts deferred by a Participant nor the Deferred Compensation Account of any Participant in any particular form, type or amount of
investment, and no Participant shall have the right to direct or in any manner control the actual investments, if any, made by the Employer or any other person for purposes of providing funds for paying the liabilities of the Employer for benefits
or otherwise under the Plan; and a Participant shall not have any ownership or beneficial interest in any such actual investments that may be made by the Employer. In no event shall any Participant or Beneficiary have a right to receive an amount
under the Plan other than that of a general unsecured creditor of the Employer notwithstanding the foregoing provisions with respect to the measurement and determination of a Participant’s Investment Return Rate on his/her Long-Term Deferral by
reference to the performance of deemed investments in Thrift Plan investment options designated by the Participant. 
  

	 	3.	 On and after July 1, 1999, a Participant shall be entitled to elect to have either the Investment Return Rate described in paragraph B.1., above, or the Investment

  

 - 4 - 

	 	 
Return Rate described in paragraph B.2., above, credited to and deducted from his or her Long-Term Deferrals under the Plan. A Participant shall make an
election of such Investment Return Rate at the time and in the manner prescribed by the Committee. 

  

 - 5 - 

  
 EXHIBIT D

  
 ONEOK, Inc. 
 EMPLOYEE NONQUALIFIED DEFERRED COMPENSATION PLAN 
 Adopted By Executive Compensation Committee 
 October 21, 1999 
  
 Re: Section 5.2 - Crediting and Debiting of 
 Investment Return, Other Items To       
 Participant Accounts                              
  
 Date: November 1, 1999 
  
 (1) The Deferral Account and Matching Account of each Participant shall be
periodically credited and increased, or debited and reduced, as the case may be, by the amount of investment return specified under Section 5.3. of the Plan. 
  
 (2) Prior to January 1, 2001 and except as otherwise provided herein, the Deferral Account and Matching Account shall be credited and debited with
investment return and losses, if any, not less frequently than on a monthly basis, at the beginning of each calendar month based on the average balance of the Participant’s Deferral Account and Matching Account, respectively since the beginning
of the next preceding calendar month, but after such Accounts have been adjusted for any deferrals, credits, debits, distributions and payments for such period. On and after January 1, 2001 and except as otherwise provided herein, the Deferral
Account and Matching Account shall be credited and debited with investment return and losses, if any, not less frequently than on a monthly basis after such Accounts have been adjusted for any deferrals, credits, debits, distributions and payments.

  
 (3) A Participant’s Accounts will be charged with cost of
any deemed purchases of securities and credited with proceeds of any deemed sales of securities which may be considered as made in respect to the Investment Return Rate specified in Exhibit “C” of the Plan by reason of changes in deemed
investments designated by such Participant, in substantially the same manner as would occur if such securities were being purchased or sold by a Participant under the Thrift Plan. The Committee may, in its sole discretion, allocate, charge and
credit other items and amounts to such deemed purchases and sales in a manner comparable to the administration of such items under the Thrift Plan. 
  
 (4) Prior to January 1, 2001, all of a Participant’s deferrals of Base Salary in a calendar month shall be deemed to be made on the first day of such
calendar month and will be credited and debited with investment return from that day. On and after January 1, 2001, all of a Participant’s deferrals of Base Salary in a calendar month shall be deemed to be made as of the date it otherwise would
have been paid to the Participant. 
  
 (5) A Participant deferral
of Bonus will be credited and debited with investment return 

  

 
from the date of deferral. 
  
 (6) Until a Participant or his or her Beneficiary receives his or her entire account, the unpaid balance thereof shall be credited and debited with
investment return as provided in Section 5.2. of the Plan.

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