FIRST AMENDMENT TO CREDIT AGREEMENT
This FIRST Amendment to revolving Credit Agreement (this “Amendment”), effective
as of the 10th day of August, 2012, is entered into by and among SOUTHERN UNION
COMPANY, a Delaware corporation (the “Borrower”), the Banks party hereto (the
“Banks”), JPMorgan Chase Bank, N.A., as Administrative Agent (the “Agent”) and
as Issuing Bank (the “Issuing Bank”).
RECITALS
WHEREAS, the Borrower, the Banks and the Agent entered into that certain Eighth
Amended and Restated Revolving Credit Agreement dated as of March 26, 2012 (as
amended hereby and as otherwise amended or restated from time to time, the
“Credit Agreement”); and
WHEREAS, the Borrower has requested the Banks, the Agent, and the Issuing Bank
to amend certain provisions of the Credit Agreement; and
WHEREAS, the Banks, the Agent and the Issuing Bank are willing to so amend the
Credit Agreement subject to the terms and conditions set forth herein;
NOW, THEREFORE, in consideration of the foregoing and the mutual covenants set
forth in this Amendment, the Borrower, the Banks, the Agent, and the Issuing
Bank agree as follows:
1.Defined Terms. Unless otherwise defined herein, capitalized terms used herein
have the meanings assigned to them in the Credit Agreement.

2.Amendments to Section 1.01. Section 1.01 of the Credit Agreement is hereby
amended to delete the definition of Change of Control and replace it in its
entirety with the following:
“Change of Control” means (a) the acquisition of ownership, directly or
indirectly, beneficially or of record, by any Person or group (within the
meaning of the Securities Exchange Act of 1934 and the rules of the Securities
and Exchange Commission thereunder as in effect on the Closing Date), other than
ETE, ETP, or any direct or indirect Subsidiaries of ETE and/or ETP or a
Permitted Investor, of Equity Interests representing more than 50% of the
aggregate ordinary voting power represented by the issued and outstanding Equity
Interests of the Borrower or (b) occupation of a majority of the seats (other
than vacant seats) on the board of directors of ETE by Persons who were neither
(i) nominated, approved or appointed by the board of directors of ETE nor (ii)
appointed by directors so nominated, approved or appointed. As used herein,
“Permitted Investor” means any of (A) Ray C. Davis, Kelcy L. Warren, the heirs
at law of such individuals, entities or trusts owned by or established for the
benefit of such individuals or their respective heirs at law (such as entities
or trusts established for estate planning purposes), or (B) National Gas
Partners VF, L.P.
3. Condition to Effectiveness. This Amendment shall be effective as of the date
first above written upon the receipt by the Agent of counterparts of this
Amendment duly executed by the Borrower, the Majority Banks and the Issuing
Bank.

4.Limited Waiver. The Banks party hereto waive any Default caused by a Change of
Control as defined prior to giving effect to this Amendment but only to the
extent any such Default may result from the transactions described in that
certain Transaction Agreement by and among ETP., Energy Transfer Partners GP,
L.P., Heritage Holdings, Inc., ETE Sigma Holdco, LLC, ETE Holdco Corporation and
ETE, dated as of June 15, 2012.

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5.Ratification. The Borrower hereby ratifies all of its Obligations under the
Credit Agreement and each of the Loan Documents to which it is a party, and
agrees and acknowledges that the Credit Agreement and each of the Loan Documents
to which it is a party are and shall continue to be in full force and effect as
amended and modified by this Amendment. Nothing in this Amendment extinguishes,
novates or releases any right, claim, lien, security interest or entitlement of
any of the Banks or the Agent created by or contained in any of such documents
nor is the Borrower released from any covenant, warranty or obligation created
by or contained herein or therein.

6.Representations and Warranties. The Borrower hereby represents and warrants to
the Banks, the Agent and the Issuing Bank that (a) this Amendment has been duly
executed and delivered on behalf of Borrower, (b) this Amendment constitutes a
valid and legally binding agreement enforceable against the Borrower in
accordance with its terms, subject to applicable bankruptcy, insolvency,
fraudulent transfer, reorganization, moratorium or other laws affecting
creditors' rights generally and subject to general principles of equity,
regardless of whether considered in a proceeding in equity or at law, (c) the
representations and warranties contained in the Credit Agreement and the Loan
Documents are true and correct on and as of the date hereof in all material
respects as though made as of the date hereof, except for such representations
and warranties as are by their express terms limited to a specific date, in
which case such representations and warranties were true and correct in all
material respects as of such specific date, (d) no Default exists under the
Credit Agreement or under any Loan Document and (e) the execution, delivery and
performance of this Amendment has been duly authorized by the Borrower.

7.Release and Indemnity.
(a)The Borrower hereby releases and forever discharges the Agent and each of the
Banks and each affiliate thereof and each of their respective employees,
officers, directors, trustees, agents, attorneys, successors, assigns or other
representatives (“Released Parties”) from any and all claims, demands, damages,
actions, cross-actions, causes of action, costs and expenses (including legal
expenses), of any kind or nature whatsoever, whether based on law or equity,
which Borrower has held or may now own or hold, whether known or unknown, for or
because of any matter or thing done, omitted or suffered to be done on or before
the actual date upon which this Amendment is signed (i) arising directly or
indirectly out of the Loan Documents, or any other documents, instruments or any
other transactions relating thereto and/or (ii) relating directly or indirectly
to all transactions by and between the Borrower or its representatives and the
Agent, and each Bank or any of their respective directors, officers, agents,
employees, attorneys or other representatives. Such release, waiver, acquittal
and discharge shall and does include, without limitation, any claims of usury,
fraud, duress, misrepresentation, lender liability, control, exercise of
remedies and all similar items and claims, which may, or could be, asserted by
the Borrower including any such caused by the actions or negligence of the
Released Party (other than as a result of or related to gross negligence, bad
faith and/or willful misconduct on the part of any such Released Party). This
release does not relate to or include any claims, demands, damages, actions,
cross-actions, causes of action, costs and expenses (including legal expenses),
of any kind or nature whatsoever which may arise after the date of this
Amendment.

(b)The Borrower hereby ratifies the indemnification provisions contained in the
Loan Documents, including, without limitation, Section 13.16 of the Credit
Agreement, and agrees that this Amendment and losses, claims, damages and
expenses related thereto shall be covered by such indemnities.

8.Counterparts. This Amendment may be signed in any number of counterparts,
which may be delivered in original, facsimile or other electronic form (i.e.,
“PDF”) each of which shall be construed as an original, but all of which
together shall constitute one and the same instrument.

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9.Governing Law. This Amendment shall be construed, and the rights of the
parties hereto determined, in accordance with and governed by the law of the
State of New York without reference to conflicts of laws (other than Section
5-1401 and Section 5-1402 of the New York General Obligations Law).

[Signature Pages Follow]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective officers thereunto duly authorized as of the date first
above written.
SOUTHERN UNION COMPANY, a Delaware corporation
By: /s/ Michael J. Doss
Michael J. Doss
Vice President, Finance and Treasurer

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JPMORGAN CHASE BANK, N.A., as Agent Issuing Bank and a Bank
By:    _________________________________________    
Name: ____________________________    
Title:     __________________________________

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WELLS FARGO BANK, NA, as Co-Syndication Agent and a Bank
By:    _________________________________________    
Name: ____________________________    
Title:     __________________________________

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PNC BANK, NATIONAL ASSOCIATION, as Co-Syndication Agent and a Bank
By:    _________________________________________    
Name: ____________________________    
Title:     __________________________________

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U.S. BANK NATIONAL ASSOCIATION, as a Bank
By:    _________________________________________    
Name: ____________________________    
Title:     __________________________________

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THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., as a Bank
By:    _________________________________________    
Name: ____________________________    
Title:     __________________________________

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THE ROYAL BANK OF SCOTLAND plc, as a Bank
By:    _________________________________________    
Name: ____________________________    
Title:     __________________________________

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ROYAL BANK OF CANADA, as a Bank
By:    _________________________________________    
Name: ____________________________    
Title:     __________________________________

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CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as a Bank
By:    _________________________________________    
Name: ____________________________    
Title:     __________________________________

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MORGAN STANLEY BANK, N.A., as a Bank
By:    _________________________________________    
Name: ____________________________    
Title:     __________________________________

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BANK OF AMERICA, N.A., as a Bank
By:    _________________________________________    
Name: ____________________________    
Title:     __________________________________

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MIZUHO CORPORATE BANK, LTD., as a Bank
By:    _________________________________________    
Name: ____________________________    
Title:     __________________________________

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BRANCH BANKING & TRUST COMPANY, as a Bank
By:    _________________________________________    
Name: ____________________________    
Title:     __________________________________

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UBS LOAN FINANCE LLC, as a Bank
By:    _________________________________________    
Name: ____________________________    
Title:     __________________________________
By:    _________________________________________    
Name: ____________________________    
Title:     __________________________________

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COMPASS BANK, as a Bank
By:    _________________________________________    
Name: ____________________________    
Title:     __________________________________

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SOVEREIGN BANK, N.A., as a Bank
By:    _________________________________________    
Name: ____________________________    
Title:     __________________________________

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UMB BANK, n.a., as a Bank
By:    _________________________________________    
Name: ____________________________    
Title:     __________________________________

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GOLDMAN SACHS BANK USA, as a Bank

By:    _________________________________________    
Name: ____________________________    
Title:     __________________________________
    

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FIRST COMMERCIAL BANK, NEW YORK BRANCH, as a Bank

By:    _________________________________________    
Name: ____________________________    
Title:     __________________________________
    

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COMERICA BANK, as a Bank

By:    _________________________________________    
Name: ____________________________    
Title:     __________________________________

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CHANG HWA COMMERCIAL BANK, LTD., NEW YORK BRANCH, as a Bank

By:    _________________________________________    
Name: ____________________________    
Title:     __________________________________

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BANK OF TAIWAN, NEW YORK BRANCH, as a Bank

By:    _________________________________________    
Name: ____________________________    
Title:     __________________________________

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BANK OF COMMUNICATIONS CO., LTD., NEW YORK BRANCH, as a Bank

By:    _________________________________________    
Name: ____________________________    
Title:     __________________________________