exv10w16







Exhibit 10.16




AMENDMENT TO

THE WILLIAMS COMPANIES, INC. 2007 EMPLOYEE STOCK PURCHASE 

PLAN




     WHEREAS, The Williams Companies, Inc. (the “Company”) maintains The Williams Companies, Inc.
2007 Employee Stock Purchase Plan, effective as of May 17, 2007, as subsequently amended (the
“Plan”); and



     WHEREAS, in accordance with the terms of the Plan the Compensation Committee may designate the
Designated Subsidiaries that may participate in the Plan; and make certain other Plan amendments



     WHEREAS, at its September 18, 2007 meeting, consistent with the changes below, the
Compensation Committee adopted the following changes to the Plan;



     NOW THEREFORE, the Plan is hereby amended as follows effective as provided herein:



I.




     Section 6(a) of the Plan is amended in its entirety to provide as follows:



     “6. Method of Payment of Contributions.



          (a) Subject to the limitations set forth in Section 3(b), a participant shall elect at the
time and manner prescribed by the Designated Broker to have payroll deductions made on each payday
during the Offering Period in an dollar amount of not less than $10.00 but not to exceed $576 per
payday (or such greater amount as the Compensation Committee may establish from time to time before
an Offering Date) of such participant’s Compensation on each payday during the Offering Period;
provided further that once such election has been made and the Offering Period begins, the
participant may not increase such election amount during such Offering Period and may decrease such
election amount only as detailed in Section 6(b) or elsewhere in this Plan. All payroll deductions
made by a participant shall be credited to his or her account under the Plan. A participant may
not make any additional payments into such account. Further, the maximum payroll deductions that
a participant may elect per Offering Period shall not exceed $7,500 (provided that in the first
offering period from October 1, 2007 through December 31, 2007, the maximum payroll deductions that
a participant may elect per Offering Period shall not exceed $3,456) and the maximum payroll
deductions that a participant may elect for any calendar year shall not exceed $15,000 (or, subject
to the limitations set forth in Section 3(b), such greater amount as the Compensation Committee may
establish from time to time before an Offering Date). Finally, subject to the preceding sentence
and to the limitations set forth in Section 3(b), a participant (i) who has elected to participate
in the Plan pursuant to this Section 6(a) for an Offering Period and (ii) who takes no action to
change or revoke such election, for the next following




 









 







Offering Period and/or for any subsequent
Offering Period prior to the Offering Date for any such respective Offering Period shall be deemed
to have made the same election, including the same attendant payroll deduction authorization, for
such next following and/or subsequent Offering Periods as was in effect immediately prior to such
respective Offering Date; provided further that any participant who has elected to participate in
the Plan for the first Offering Period who takes no action to change or revoke such election,
for the next following Offering Period and/or for any subsequent Offering Period prior to the
Offering Date for any such respective Offering Period shall be deemed to have made the same payroll
deduction authorization for such next following and/or subsequent Offering Periods as was in effect
immediately prior to such respective Offering Date.




II.




     Effective September 18, 2007, Appendix A of the Plan is amended in its entirety to provide as
follows:



“APPENDIX A-DESIGNATED SUBSIDIARIES




The Williams Companies, Inc.

Cardinal Operating Company

Gas Supply, L.L.C.

Williams Express, Inc.

Williams Alaska Petroleum, Inc.

Williams Natural Gas Liquids, Inc.

Marsh Resources, Inc.

Northwest Pipeline Services LLC

Pine Needle Operating Company

TouchStar Technologies L.L.C.

Transco Energy Company

Transco Services LLC

WFS – Liquids Company

WFS – Pipeline Company

Williams Gulf Coast Gathering Company, LLC

Williams Field Services Company, LLC

Williams Production Company, LLC

Williams Energy Services, LLC

Williams Field Services Group, LLC

Williams One-Call Services, Inc.

Williams Headquarters Building Company

Williams Relocation Management, Inc.

Williams Acquisition Holding Company, Inc.

Williams Wireless, Inc.

Williams Information Technology, Inc.

Williams Petroleum Services, LLC




 









 





FT&T

Williams Power Company, Inc.

Williams International Company

Williams Refining & Marketing LLC

Williams Midstream Natural Gas Liquids, Inc.

Williams Exploration Company

Williams Gas Pipeline Company, LLC

MAPCO Inc.

Williams WPC-I, Inc.

Williams WPC-II, Inc.”




III.




     Except as modified herein, the Plan shall remain in full force and effect.