Exhibit 10.3
  FORM OF TRANSITION SERVICES AGREEMENT
  THE WILLIAMS COMPANIES, INC.
  WPX ENERGY, INC.




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TABLE OF CONTENTS
 PageARTICLE I DEFINITIONS
    
    
    1Section 1.1 Table of Definitions
    
    
    1Section 1.2 Certain Defined Terms
    
    
    2Section 1.3 Other Capitalized Terms
    
    
    4ARTICLE II TERM
    
    
    5Section 2.1 Term
    
    
    5Section 2.2 No Extension of Term
    
    
    5Section 2.3 Termination of the Administrative Services Agreement
    
    
    5ARTICLE III SERVICES
    
    
    5Section 3.1 Performance of Services
    
    
    5Section 3.2 Independent Contractor Status
    
    
    6Section 3.3 Service Standards
    
    
    7Section 3.4 Conflict of Interest
    
    
    7Section 3.5 WPXs Obligations
    
    
    7Section 3.6 Third Party Consents
    
    
    8Section 3.7 Services Provided by WPX
    
    
    8ARTICLE IV COMPENSATION
    
    
    8Section 4.1 Charge for Services
    
    
    8Section 4.2 Taxes
    
    
    8Section 4.3 Invoicing and Payment
    
    
    8ARTICLE V WMB SUBCONTRACTORS AND PERSONNEL
    
    
    9Section 5.1 Subcontractors
    
    
    9Section 5.2 Compliance
    
    
    9ARTICLE VI TRANSITION SERVICES MANAGEMENT
    
    
    9Section 6.1 Transition Services Management Process
    
    
    9Section 6.2 Books and Records; Audit
    
    
    10Section 6.3 Audit Rights for Intellectual Property
    
    
    10ARTICLE VII FACILITIES AND SYSTEMS
    
    
    10Section 7.1 WPX Facilities
    
    
    10Section 7.2 WMB Facilities and WMB Systems
    
    
    11Section 7.3 Physical Security for Facilities
    
    
    12




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TABLE OF CONTENTS
(Continued)
 PageARTICLE VIII TECHNOLOGY AND PROPRIETARY RIGHTS
    
    
    12Section 8.1 Related Agreements
    
    
    12Section 8.2 Limited License to Use WMB Work Processes and Software; No Extension of Term
    
    
    12Section 8.3 No Implied Licenses
    
    
    12Section 8.4 Managed WPX Contracts
    
    
    12ARTICLE IX DATA SECURITY
    
    
    13Section 9.1 Ownership
    
    
    13Section 9.2 Data Security
    
    
    13ARTICLE X REPRESENTATIONS AND WARRANTIES
    
    
    13Section 10.1 Service Warranty
    
    
    13Section 10.2 Disclaimer
    
    
    13ARTICLE XI INSURANCE
    
    
    13Section 11.1 Coverage
    
    
    13Section 11.2 Subrogation
    
    
    14Section 11.3 Certificates of Insurance
    
    
    14Section 11.4 Risk of Loss
    
    
    14ARTICLE XII TERMINATION
    
    
    14Section 12.1 Early Termination of the Services
    
    
    14Section 12.2 WMBs Right to Terminate for Compliance Issues
    
    
    14Section 12.3 Survival
    
    
    14Section 12.4 Effect of Termination
    
    
    14ARTICLE XIII GENERAL PROVISIONS
    
    
    15Section 13.1 Limitation of Liability; Indemnification
    
    
    15Section 13.2 Compliance With Laws
    
    
    15Section 13.3 Further Action
    
    
    15Section 13.4 Expenses
    
    
    15Section 13.5 Authorization
    
    
    16Section 13.6 Assignment
    
    
    16Section 13.7 Force Majeure
    
    
    16Section 13.8 Acknowledgment
    
    
    16Section 13.9 Order of Precedence
    
    
    17




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TABLE OF CONTENTS
(Continued)
 PageSection 13.10 References
    
    
    17Section 13.11 Incorporation of Separation Agreement Provisions
    
    
    17Schedule A Statements of Work (by Functional Service Area)Schedule A-1 Payroll and Human Resources AdministrationSchedule A-2 Information TechnologySchedule A-3 Finance and Accounting, Cash Management and TreasurySchedule A-4 Tax ServicesSchedule A-5 Enterprise Business ServicesSchedule A-6 Internal Audit ServicesSchedule A-7 Corporate Communications and Investor RelationsSchedule A-8 Legal, Regulatory, Government Affairs and Records ManagementSchedule A-9 Real Estate and Facilities ManagementSchedule A-10 Insurance and Claims AdministrationSchedule B Managed WPX ContractsSchedule C Service Management ModelSchedule D List of Supported Facilities




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TRANSITION SERVICES AGREEMENT
 Agreement WMB WPX
 RECITALS
 Separation Agreement
 Administrative Services Agreement
  AGREEMENT
  ARTICLE I
DEFINITIONS
 Table of Definitions
 Definition
    
    PageAdministrative Services Agreement
    
    
    1Agreement
    
    
    1Charges
    
    
    5Equipment
    
    
    2Force Majeure Event
    
    
    2Functional Service Areas
    
    
    2Intellectual Property Rights
    
    
    3Managed WPX Contracts
    
    
    3Pricing
    
    
    5Separation Agreement
    
    
    1Services
    
    
    3




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Definition
    
    PageSoftware
    
    
    3Subcontractors
    
    
    3Systems
    
    
    3Term
    
    
    5Third Party Consents
    
    
    3Transition Service Managers
    
    
    3WMB
    
    
    1WMB Equipment
    
    
    3WMB Facilities
    
    
    3WMB Personnel
    
    
    3WMB Service Manager
    
    
    3WMB Software
    
    
    4WMB Systems
    
    
    4WPX
    
    
    1WPX Data
    
    
    4WPX Equipment
    
    
    4WPX Facilities
    
    
    4WPX Personnel
    
    
    4WPX Service Manager
    
    
    4WPX Software
    
    
    4WPX Systems
    
    
    4
 Certain Defined Terms
 Equipment
 Force Majeure Event
 Functional Service Areas
 2




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Intellectual Property
 Intellectual Property Rights
 Managed WPX Contracts Schedule B
 Services Schedule A
 Software
 Subcontractors
 Systems
 Third Party Consents
 Transition Service Managers
 WMB Equipment
 WMB Facilities
 WMB Personnel
 WMB Service Manager
 3




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WMB Software
 WMB Systems
 WPX Data
 WPX Equipment
 WPX Facilities Schedule D
 WPX Personnel
 WPX Service Manager
 WPX Software
 WPX Systems
 Other Capitalized Terms
 4




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ARTICLE II
TERM
 Term Term
 No Extension of Term
 Termination of the Administrative Services Agreement
 ARTICLE III
SERVICES
 Performance of Services
 Performance Section 3.1(a)
 Identification of Services Requested and Charges
 Pricing Charges
 5




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Subsequent Adjustments
 WPX Input Schedule A
 Independent Contractor Status
   6




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Service Standards Section 3.1(b)
 Conflict of Interest Section 12.2(b)
 WPXs Obligations
 Schedule A
  7




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Third Party Consents
 Responsibility
 Contingent Arrangements Section 3.6
 Services Provided by WPX
 ARTICLE IV
COMPENSATION
 Charge for Services Section
3.1
 Taxes Section 4.2
 Invoicing and Payment
 8




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The Wall Street Journal
 ARTICLE V
WMB SUBCONTRACTORS AND PERSONNEL
 Subcontractors
 Compliance
 ARTICLE VI
TRANSITION SERVICES MANAGEMENT
 Transition Services Management Process Schedule C Schedule C
 9




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Books and Records; Audit Article V
 Audit Rights for Intellectual Property Article V
 ARTICLE VII
FACILITIES AND SYSTEMS
 WPX Facilities
 General Section 7.1(b) Article XII Schedule
A
 10




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Relocation Section 7.1(b)
 WMB Facilities and WMB Systems
 WMB Facilities
 Access to the WMB Systems
 11




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Physical Security for Facilities
 ARTICLE VIII
TECHNOLOGY AND PROPRIETARY RIGHTS
 Related Agreements
 Ownership of Intellectual Property Section
8.2
 Development of Intellectual Property Articles IX
 Limited License to Use WMB Work Processes and Software; No Extension of Term
 No Implied Licenses Section 8.3
 Managed WPX Contracts
 12




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ARTICLE IX
DATA SECURITY
 Ownership
 Data Security
 ARTICLE X
REPRESENTATIONS AND WARRANTIES
 Service Warranty
 Disclaimer ARTICLE X
 ARTICLE XI
INSURANCE
 Coverage
    13




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Subrogation Section 11.1
 Certificates of Insurance
 Risk of Loss
 ARTICLE XII
TERMINATION
 Early Termination of the Services Section 12.1
 WMBs Right to Terminate for Compliance Issues
 Survival
 Effect of Termination
 14




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ARTICLE XIII
GENERAL PROVISIONS
 Limitation of Liability; Indemnification
   Compliance With Laws
 Further Action
 Expenses
 15




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Authorization Section 13.5
 Assignment
 Force Majeure
  Article IV
 Section 13.7(c)
 Acknowledgment
 16




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Order of Precedence Articles I XIII Articles I XIII
 References Schedule
A-1 Schedule A Schedules A-1 A-10
 Incorporation of Separation Agreement Provisions Section 13.11 Article
XI
  17




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THE WILLIAMS COMPANIES, INC.By:Name:Title:WPX ENERGY, INC.By:Name:Title:




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Schedule A-1
 Payroll and Human Resources Administration
 Article III
 [Schedule A-1 to Transition Services Agreement]




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Schedule A-2
 Information Technology
 Article III
 [Schedule A-2 to Transition Services Agreement]




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Schedule A-3
 Finance and Accounting, Cash Management and Treasury
 Article III
 [Schedule A-3 to Transition Services Agreement]




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Schedule A-4
 Tax Services
 Article III
 [Schedule A-4 to Transition Services Agreement]




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Schedule A-5
 Enterprise Business Services
 Article III
 [Schedule A-5 to Transition Services Agreement]




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Schedule A-6
 Internal Audit Services
 Article III
 [Schedule A-6 to Transition Services Agreement]




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Schedule A-7
 Corporate Communications and Investor Relations
 Article III
 [Schedule A-7 to Transition Services Agreement]




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Schedule A-8
 Legal, Regulatory, Government Affairs and Records Management
 Article III
 [Schedule A-8 to Transition Services Agreement]




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Schedule A-9
 Real Estate and Facilities Management
 Article III
 [Schedule A-9 to Transition Services Agreement]




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Schedule A-10
 Insurance and Claims Administration
 Article III
 [Schedule A-10 to Transition Services Agreement]




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Schedule B
 Managed WPX Contracts
 Article III




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Schedule C
 Service Management Model
 Article III
  Article X




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Schedule D
 List of Supported Facilities