|
(Date
of report)
|
June
22, 2009
|
|
(Date
of earliest event reported)
|
June
16, 2009
|
|
Oklahoma
|
001-13643
|
73-1520922
|
||
|
(State
or other jurisdiction
|
(Commission
|
(IRS
Employer
|
||
|
of
incorporation)
|
File
Number)
|
Identification
No.)
|
|
Item 5.02
|
Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers
|
|
|
Samuel
Combs III, president ONEOK Distribution Companies, retired from his
positions with us effective June 17, 2009. Pierce H. Norton II,
our executive vice president, has assumed Mr. Combs’s duties and
responsibilities.
In
connection with his retirement, Mr. Combs has entered into an agreement
(the “Agreement”), dated June 16, 2009, with us which provides that Mr.
Combs will be entitled to receive normal retirement benefits and awards
under our previously disclosed executive compensation plans. In
addition, Mr. Combs will be eligible to be reimbursed for up to $20,000 in
reasonable expenses that may be incurred in connection with a senior
executive outplacement service, will receive a lump sum payment of
$925,000 and will be credited with a service factor of 55% and an early
commencement factor of 75% in connection with Part B of our Supplemental
Executive Retirement Plan. The Agreement also provides that Mr.
Combs releases us from any and all claims related to his
employment.
|
|
ONEOK,
Inc.
|
|||
|
Date:
|
June
22, 2009
|
By:
|
/s/ Curtis L.
Dinan
|
|
Executive
Vice President,
Chief
Financial Officer and
Treasurer
|