A Guide to Self-Directed Option _ by dudu520

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									A Guide to Self-Directed Option ("SDO") Investing

1. Introduction:

A Self-Directed Account Option ("SDO") is offered as an additional investment option of
the Plan. Participants are able to invest in the mutual funds (referred to as "Core Fund
Options" or "Core") currently offered by the Plan, as well as other permitted investments
available through a Self-Directed Account Option. By opening an SDO, you are subject
to the currently applicable Terms and Conditions of the SDO. They are available online
at https://startright.bokf.com/sdohomepage/terms.htm

2. What are the Core Fund Options?

The investment options that are offered to all participants under the Plan are referred to as
the Core Fund Options.

Additional fund detail can be obtained from the Mutual Fund Company or from the fund
prospectuses, which are available on Start Right Online or through a Bank Participant
Service Group Representative.

3. What is the Self-Directed Account Option?

A Self-Directed Account Option ("SDO") is established as a separate Plan account on
behalf of the Participant. The SDO Account holds all SDO assets, settles trades and
provides the required Plan level reporting. The participant can designate a Financial
Advisor to execute trades on his behalf, which settle in the participant’s SDO account at
Bank ("Bank" refers to each of the financial institutions affiliated with BOK Financial
Corporation, including Bank of Oklahoma, N.A.; Bank of Texas, N.A.; Bank of Texas
Trust Company, N.A.; Alliance Trust Company; Bank of Albuquerque, N.A.; Bank of
Arkansas, N.A.; Colorado State Bank and Trust, N.A.; Bank of Arizona, N.A.; and Bank
of Kansas City, N.A.). A participant may also place trades without a designated Financial
Advisor using Bank’s online trading system ("Portfolio Online").

4. Who is Eligible for A SDO?

All participants.

5. How do I trade in my Self-Directed Account?

You have two (2) options when it comes to trading in your SDO Account.

#1: You may trade online through the Internet by using Portfolio Online.

and/or

#2: You may trade through a Financial Advisor of your choice. However, you may only
designate ONE Financial Advisor for your account at any one time. Your Financial
Advisor will be required to settle trades according to Bank’s trading instructions
(provided with the Self-Directed Account Option Participant and Financial Advisor
Authorization Agreement). Financial Advisors may not utilize Portfolio Online for
trading purposes.

All Mutual Fund purchases, sales or exchanges must be placed through Bank through one
of the following options:

#1: Placing a mutual fund trade through Portfolio Online (If you have access)

#2: Placing a mutual fund trade directly with a Bank Participant Service Group
Representative

If you have designated a Financial Advisor for your account, your Financial Advisor can
contact a Bank Participant Service Group Representative to place a mutual fund trade in
your account.

You are responsible for all investment decisions made with respect to your SDO account.
Your Financial Advisor serves as your agent for trades placed in your account.

6. What Investments are Available Through my SDO?

You may invest in publicly traded domestic debt securities (including U.S. Government
obligations and corporate bonds), publicly traded domestic equity securities, and mutual
funds available through Bank. Unless directed otherwise, all mutual fund trades will be
placed in a Bank Omnibus Mutual Fund account. You may direct mutual fund purchases
to designate your Financial Advisor to be listed as broker of record.

7. Can I Utilize Both the Core Fund Options & the SDO?

YES. You may have all or a part of your money invested in the Core Fund Options, or all
or a part of your money invested in the SDO.

8. How are My Future Contributions and Loan Payments Invested?

All of your new contributions and loan payments (if you have a loan) will be invested
based on your Future Contribution Elections. You may change how your future
contributions and loan payments are invested by accessing StartRight Online, Start Right
Voice or through a Bank Participant Service Group Representative.

9. How Do I Transfer Money From my Core Fund Options to My SDO?

Once your SDO account is opened, you may transfer money to your SDO account on any
Bank business day by calling Start Right Voice or by logging into your account via Start
Right Online and entering a transfer to your SDO account.
All Core-to-SDO transfer requests entered on Start Right Voice or Start Right Online
prior to the transaction cut-off time on each Bank business day will be liquidated using
that day’s closing price, and your money will be transferred to your SDO account on the
following Bank business day.

Money transferred into your SDO account will be automatically invested in the money
market sweep fund designated by the employer where it will remain until you or your
Financial Advisor place a trade. When you request a transfer to the SDO, the transfer will
be made pro-rata from each contribution type.

10. How Do I Transfer Money From my SDO to my Core Fund Options?

You may request to transfer money from your SDO to your Core Fund Options on any
Bank business day by calling a Bank Participant Service Group Representativeand
requesting a transfer from your SDO to your Core Fund Options. Keep in mind that any
assets not invested in the SDO money market sweep fund must be liquidated before a
transfer can be made. You will need to liquidate the necessary assets through Portfolio
Online or instruct your Financial Advisor to sell sufficient assets to provide liquid funds
for the transfer (Please refer to the enclosed timeline).

When you request a transfer to the Core Fund Options, your transfer will be made pro-
rata by contribution type.

Money received from your SDO into your Core Fund Options will be invested according
to your future contribution elections on file.

11. How Can I Check My Account Balance?

You may check your account balance in a number of different ways:

#1: By calling Start Right Voice or accessing StartRight Online, you may check your
total account balance as well as the balance in each of your Core Fund Options and the
market value of your SDO account. Your Core Fund Option balances will be as of the
prior Bank business day. Your SDO balance will reflect the market value as of two Bank
business days prior.

#2: You may access your SDO account via the web through Portfolio Online (If you have
requested access).

#3: On a quarterly basis, you will receive a trust statement from Bank detailing the SDO
holdings as of quarter-end, and the activity in your SDO account for the quarter.

#4: On a quarterly basis, you will receive a participant statement providing account
balance information for your Core Fund Options, loan balances as well as the market
value for your SDO.
All statements will be mailed to you at the address on file with Bank.

12. How often will my Account Balance be updated on Start Right Voice and Start
Right Online?

The market value of your account will be adjusted on a daily basis. However, please note
that while your core fund option balances will be as of the close of the prior Bank
business day, the market value of your SDO account will be as of two Bank business
days prior. Similarly, your quarterly participant statement will reflect the market value of
each Core Fund Option as of the last Bank business day of the quarter. The SDO market
value will be as of the next to last Bank business day of the quarter.

13. How Do I Request a Loan?

If your plan allows for loans, you can request information about a loan by calling Start
Right Voice or accessing Start Right Online, you can:

   •   Determine the amount you have available to borrow
   •   Determine the payment amount
   •   Request loan documentation

Since all loans must be funded from the Core Fund Options, you may need to transfer
money from your SDO to provide sufficient money to fund your requested loan.

14. How Are Withdrawals And Distributions Handled?

Withdrawals and distributions may not be made directly from the SDO. They must be
funded from the Core Fund Options. If you do not have enough money in the Core Fund
Options, you will need to transfer money from the SDO to the Core Fund Options in
order for Bank to process your withdrawal or distribution. Money will be transferred
from the SDO to the Core on a pro-rata basis from all contribution types.

15. Are Rollovers Permitted?

Your Plan may permit you to roll over cash balances from a prior employer’s qualified
plan. Please contact your human resources representative to obtain rollover instructions.

Under certain conditions, you may be allowed to transfer assets in-kind from a SDO with
a prior employer to your SDO in the plan. Please contact your human resources
representative or a Bank Participant Service Group Representative for additional details.

16. Please Explain why additional Fees apply to the SDO:

The SDO fees cover the costs associated with:
   1. Processing SDO transactions.
   2. Providing a consolidated participant statement for both your Core Fund Options
      and your SDO.
   3. Providing balance information through Start Right Voice and Start Right Online
      for your Core Fund Options and your SDO.
   4. Enabling you to model a plan loan using the total balance of your account (Core
      Fund Options plus SDO).
   5. Providing a consolidated statement for the entire Plan, which is needed to comply
      with Department of Labor reporting requirements.
   6. Execution of Online trades placed through Portfolio Online.

17. How Do I Open a New SDO?

Request a SDO setup packet by contacting a Bank Participant Service Representative at
1-800-876-9557 or via email at sdoaccounts@bokf.com. You may fax or mail the
completed materials to Bank. Once you have returned all completed materials, allow at
least seven business days for the initial set-up (please refer to the enclosed timelines).

18. Who do I contact at Bank?

To reach a Participant Service Representative concerning your Self-Directed Account,
please call 1-800-876-9557 or via email at sdoaccounts@bokf.com.

Fax Number: (918) 619-



Timeline to Open an SDO

Set-Up a New Account

Day 1 to Day 4

Bank receives application, verifies information and sets up account;

Day 5

Participant is notified that the SDO account has been established and is provided with
access information to Portfolio Online (if requested). Participant can call Start Right
Voice or access Start Right Online to request a transfer from their Core Fund Options to
their SDO Bank liquidates Core Fund Options if transfer request is received prior to
transaction cut-off time;

Day 6

Bank transfers money to SDO; and
Day 7

Money is available to trade.

Transfers from Core Fund Options (Core) to Self-Directed Option (SDO)

Day 1

Participant calls Start Right Voice or accesses Start Right Online prior to the transaction
cut-off time and requests a transfer to the SDO;

Day 2

Bank transfers money to SDO; and

Day 3

Money is available to trade.

Transfers from SDO to Core Fund Options (if liquid funds are available)

Day 1

Participant requests a transfer through a Bank Participant Service Group Representative
prior to the transaction cut-off time; money is transferred to core fund options;

Day 2

Money is invested in Core Fund Options according to investment elections on file.

Transfers from SDO to Core Fund Options (if funds are not available)

Equity Trades

Day 1

Participant requests sale of assets through Financial Advisor or through Portfolio Online.

Day 2 to Day 3

Sale of assets is pending;

Day 4

Trade settles; and
Day 5

Participant requests a transfer through a Bank Participant Service Group Representative
prior to the transaction cut-off time; money is transferred to core fund options

Day 6

Money is invested in Core Fund Options according to investment elections on file.

Mutual Fund Trades

Day 1

Participant requests sale of assets through Financial Advisor or through Portfolio Online.

Day 2

Trade settles; and

Day 3

Participant requests a transfer through a Bank Participant Service Group Representative
prior to the transaction cut-off time; money is transferred to core fund options

Day 4

Money is invested in Core Fund Options according to investment elections on file.

								
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