Document:

Severance Pay Plan effective as of January 1, 2004

 Exhibit 10.1 
  
 SUMMARY PLAN DESCRIPTION 
  
 FOR 
  
 MAGELLAN MIDSTREAM HOLDINGS, L.P. 
  
 SEVERANCE PAY PLAN 
  
 (Effective January 1, 2004) 

 SUMMARY PLAN DESCRIPTION 
 FOR 
 MAGELLAN MIDSTREAM HOLDINGS, L.P. 
 SEVERANCE PAY PLAN 
  
 TABLE OF CONTENTS 
  

			
	 	  	Page

	 INTRODUCTION
	  	1
		
	 HIGHLIGHTS
	  	1
		
	 ELIGIBILITY
	  	2
		
	 Termination of Employment Due to a Reduction in Force or Job Elimination
	  	2
	 Termination of Employment Due to a Change in Control
	  	4
		
	 SEVERANCE PAY BENEFITS
	  	5
		
	 Notice
	  	6
	 Integration With Plant Closing Law(s)
	  	6
	 Other Benefit Plans
	  	7
	 Paid Time Off
	  	8
	 Rehired Employees
	  	8
		
	 CLAIM REVIEW PROCEDURE
	  	9
		
	 Initial Claim for Benefits
	  	9
	 Review of Claim Denial
	  	9
	 Exhaustion of Review Remedies
	  	10
	 Effect of Plan Administrator’s Decision on Claims
	  	10
		
	 TECHNICAL INFORMATION
	  	10
		
	 PARTICIPATING COMPANIES
	  	10
		
	 PLAN ADMINISTRATION
	  	10
		
	 LEGAL AGENT
	  	11
		
	 COMPANY LOCATION
	  	11
		
	 PLAN AMENDMENT OR TERMINATION
	  	11
		
	 RIGHT TO EMPLOYMENT
	  	11
		
	 ERISA RIGHTS
	  	1

  

 i 

 INTRODUCTION 
  
 Magellan Midstream Holdings, L.P. (“Company”) provides a Severance Pay Plan (“Plan”) for eligible employees of the
Company on the United States payroll who are terminated because of a reduction in force, job elimination or a change in control, as defined herein, of Magellan Midstream Holdings, L.P. The term “Company” whenever used herein shall include
Magellan and each of its subsidiaries and affiliated companies that participate in the Plan. The term “Magellan” shall include only Magellan Midstream Holdings, L.P. 
  
 The summary of the Plan set out herein applies to eligible employees who are in the employ of the Company on or after January 1, 2004, the
effective date of the most version of the Plan. 
  
 This general summary is
designed to highlight the Plan’s most important provisions. This summary may not contain every detail of the Plan or its specific terms. You will not gain any new rights because of a misstatement in, or omission from, this summary or by
operation of the Plan. 
  
 IF THERE IS ANY QUESTION OR CONFLICT BETWEEN WHAT IS
SAID IN THIS SUMMARY AND THE LANGUAGE IN THE PLAN’S LEGAL DOCUMENT, THE LEGAL DOCUMENT WILL PREVAIL. 
  
 Contact the Human Resources Department if you want to receive a copy of the Plan’s legal document. 
  
 This summary is for your information. Neither this summary nor the benefits provided by the Plan is a promise of continued Company employment. Magellan may amend or
terminate the Plan at any time without the consent of any eligible employee. If the Plan is amended or terminated, your benefits, if any, may be different than those summarized. 
  
 HIGHLIGHTS 
  

	•	If you are an eligible employee whose employment is terminated as a result of a reduction in force or job elimination, and you remain employed until your designated termination
date, the Company may make a severance payment to you. 

  

	•	If you are an eligible employee whose employment is terminated voluntarily for good reason or involuntarily for other than performance reasons within two years after a change in
control of Magellan, the Company may make a severance payment to you. 

  

	•	Severance payments will be made to you based on your length of service. 

  

	•	Severance payments will be paid to you in a lump sum subject to deductions required by law. 

  

	•	Severance payments are subject to your signing (and not revoking) a release of claims prepared by the Company or other form of release of claims that the Company may, in its
discretion, require. 

	•	If you are eligible for severance payments under this Plan, your first three months of COBRA continuation health coverage may be purchased by you at active employee rates.

  

	•	Severance payments under the Plan are provided solely by the Company. 

  

	•	If you receive an offer of employment for a comparable position with the Company or any affiliated company or with a successor company to any of such entities, you will not be
eligible to receive benefits under this Plan. 

  

	•	If you accept an offer of employment with the Company or any affiliated company or with a successor company to any of such entities, even if the offer of employment is not
considered comparable, you will not be eligible to receive benefits under this Plan. 

  

	•	If you receive severance payments from the Company under any other severance plan, program or agreement, you will not be eligible to receive benefits under this Plan.

  
 ELIGIBILITY 
  
 You will receive severance pay only if your employment termination meets specific guidelines.
To receive severance pay, you must be (1) an eligible employee whose employment terminated because of a reduction in force or job elimination, or (2) an eligible employee whose employment is terminated voluntarily for good reason or involuntarily
for other than performance reasons within two years after a change in control of Magellan. 
  
 An eligible employee for purposes of the Plan is a regular full- or part-time employee on United States payroll. Employees covered by a collective bargaining agreement are not eligible to participate in the Plan
unless the applicable collective bargaining agreement expressly provides for coverage by the Plan or the employees’ union bargains this Plan pursuant to bargaining obligations mandated by the National Labor Relations Act. Also excluded from
participation in the Plan are nonresident aliens, seasonal employees, temporary employees, leased employees, independent contractors who are reclassified by a court or governmental agency as “employees” and employees with a written
employment contract, unless the contract expressly provides for participation. 
  
 Termination of Employment Due to a Reduction in Force or Job Elimination 
  
 To receive severance pay benefits due to a reduction in force or job elimination, your employment must be terminated because of a designated reduction in force or a job elimination. If you are terminated from
employment and your job is eliminated, you will not receive severance pay unless the officer of the Company administering this Plan, or his/her designee, approves the reduction in force or job elimination and you are notified in writing that your
employment is being terminated because of a reduction in force or job elimination. If your employment is terminated, you will not receive severance if you accept an offer of employment with the Company or any affiliated company or with a successor
company to any of such entities, even if the position is not considered comparable. 
  
 If you are given advance notice of a reduction in force or job elimination, you must remain in employment until the designated termination date in order to receive severance pay. Severance 
  

 2 

 pay may be paid if you leave prior to the designated termination date only if your early departure will not have an
adverse effect on the activities of the department or Company and is approved in advance in writing by your Vice President and Director of the Human Resources Department. 
  
 Even if you meet the above requirements, you will not be entitled to severance pay under the Plan if you: 
  

	•	Are discharged for unsatisfactory performance, including but not limited to, failure to adequately perform job responsibilities, poor attendance, violation of Company policy or
practice or acts of dishonesty; 

  

	•	Voluntarily resign for any reason, including retiring, prior to your scheduled termination date (this does not preclude you from retiring concurrent with your termination date);

  

	•	Accept any benefits under an incentive retirement plan established for the purpose of encouraging eligible employees to terminate employment within a specified time period;

  

	•	Are on educational or personal leave at the time you are notified that your employment is being terminated because of a reduction in force or job elimination;

  

	•	Are transferred or receive an offer of employment for a comparable position within the Company or an affiliated company. A position will be deemed “comparable” if the
position provides a total base salary and bonus target on the termination date at least equal to 90% of such eligible employee’s total base salary and bonus target as it existed on the termination date. Such a position includes any position
within the Company or any affiliate of any of them, regardless of whether such position requires the participant to transfer to a different work location, but only so long as the location of your principal place of employment is not more than 50
miles from the location you were employed prior to the termination date; 

  

	•	Have an employment contract that contains severance provisions not provided by this Plan; 

  

	•	Receive an offer of comparable employment with a successor company, an affiliate of such a company or entity after a corporate rearrangement, total or partial merger, acquisition,
sale or other transaction. A position will be deemed “comparable” if the position provides a total base salary and bonus target on the termination date at least equal to 90% of such participant’s total base salary and bonus target as
it existed on the termination date. Such a position includes any position with a successor company or an affiliate of such a company or entity, regardless of whether such position requires the participant to transfer to a different work location,
but only so long as the location of your principal place of employment is not more than 50 miles from the location you were employed prior to the termination date; 

  

	•	Accept an offer of employment with the Company or with a successor company, an affiliate of such a company or entity after a corporate rearrangement, total or partial merger,
acquisition, sale, or other transaction, even if the offer of employment is not for a comparable position; 

  

 3 

	•	Establish employment with the Company within six months after it has been acquired by another company; 

  

	•	Die before your established termination date; 

  

	•	Receive a severance pay benefit from the Company or any affiliated company under any other severance plan, program or agreement; 

  

	•	Are receiving short-term disability benefits at the time of termination of employment due to a reduction in force or job elimination unless you are released to return to work within
the initial six-month period of short-term disability and the officer of Magellan administering this Plan, or his/her designee, approves eligibility for severance upon release to return to work in his/her sole discretion; or

  

	•	Fail to sign and return a release of claims or revoke such a release of claims after signing it. 

  
 Termination of Employment Due to a Change in Control 
  
 To receive severance pay benefits due to a change in control of Magellan Midstream Holdings, L.P. (hereinafter “Magellan”), your
employment must be terminated voluntarily for good reason or involuntarily for other than performance reasons within two years after a change in control of Magellan. 
  
 A “Change in Control” shall be deemed to have occurred upon the occurrence of one or more of the following events: (i) any sale,
lease, exchange or other transfer (in one transaction or a series of related transactions) of all or substantially all of the assets of Magellan Midstream Partners, L.P. or of Magellan to any person or its affiliates other than Magellan Midstream
Management, LLC; (ii) the consolidation, reorganization, merger, or other transaction pursuant to which more than 50% of the combined voting power of the outstanding equity interest of Magellan ceases to be owned by Magellan Midstream Management,
LLC and its affiliates; or (iii) the general partner of Magellan Midstream Partners, L.P. ceases to be an affiliate of Magellan Midstream Management, LLC. 
  
 Voluntary termination of employment for “good reason” occurs if you voluntarily terminate your employment with the Company within two years after a change in
control of Magellan because of a reduction of more than 10% in your base salary or incentive compensation opportunities after the change in control, or a requirement that you transfer the location of your principal place of employment more than 50
miles from the location you were employed immediately prior to the change in control. 
  
 Even if you meet the above requirements, you will not be entitled to severance pay under the Plan if you: 
  

	•	Are discharged for unsatisfactory performance, including but not limited to, failure to adequately perform job responsibilities, poor attendance, violation of Company policy or
practice or acts of dishonesty; 

  

	•	Retire under the terms of a Company retirement plan; 

  

 4 

	•	Accept any benefits under an incentive retirement plan established for the purpose of encouraging eligible employees to terminate employment within a specified time period;

  

	•	Are on educational or personal leave at the time you are notified that your employment is being terminated because of a reduction in force or job elimination;

  

	•	Have an employment contract that contains severance provisions not provided by this Plan; 

  

	•	Are terminated due to the sale of a business after the change in control and are offered employment in a comparable position with the successor company. A position will be deemed
“comparable” if the position provides for a base salary and bonus target at least equal to 90% of such participant’s total base salary and bonus target as it existed on the termination date. Such a position includes any position
within the successor company, a participating company or any affiliate of any of them, regardless of whether such position requires the participant to transfer to a different work location, but only so long as the location of your principal place of
employment is not more than 50 miles from the location you were employed prior to the termination date; 

  

	•	Die before your established termination date; 

  

	•	Receive a severance pay benefit from the Company or any affiliated company under any other severance plan, program or agreement; 

  

	•	Are receiving short-term disability benefits at the time of a change in control unless you are released to return to work within the initial six-month period of short-term
disability and the officer of the Company administering this Plan, or his/her designee, approves eligibility for severance upon release to return to work in his/her sole discretion; or 

  

	•	Fail to sign and return a release of claims or revoke such a release of claims after signing it. 

  
 SEVERANCE PAY BENEFITS 
  
 Subject to your signing (and not revoking) a release of claims and an agreement regarding protection of confidential information and business reputation and
transition of business prepared by Magellan and as posted on the Magellan Employee Intranet, the amount of severance pay you receive will be based on your length of employment service with the Company, as set by your latest hire or rehire date.
These releases of claims and agreements are incorporated into the Summary Description and the Plan. If you become entitled to severance benefits under the Plan due to a reduction in force or job elimination, you will receive two weeks of
severance pay for each full, completed year of your employment service with the Company, with a minimum of six (6) weeks and a maximum of fifty-two (52) weeks of severance pay. Only full years of employment service will be counted in setting the
amount of severance pay. If you have less than one full, completed year of employment service with the Company and you are otherwise eligible for benefits under this Plan, you will receive two weeks of severance pay. The Company will recognize years
of employment service with The Williams Companies, Inc. and its affiliates in calculating your length of employment service with the Company. The Plan Administrator will make all determinations regarding whether an employer is an affiliate of The
Williams Companies, Inc. 
  

 5 

 If you become entitled to severance benefits under the Plan due to a change in control of Magellan, you will receive two
weeks of severance pay for each full, completed year of your employment service with the Company, with a minimum of twelve (12) weeks of severance pay and a maximum of fifty-two (52) weeks of severance pay. Only full years of employment service will
be counted in setting the amount of severance pay. If you have less than one full, completed year of employment service with the Company and you are otherwise eligible for benefits under this Plan, you will receive two weeks of severance pay.

  
 Your weekly severance pay shall be determined by reference to your regular,
normal workweek base wage, as determined by the Plan Administrator, on the date of employment termination. Your regular, normal workweek base wage is your total weekly salary or wages, including any salary deferral contributions you make to the
Company’s defined contribution and deferred compensation plans, and salary deferral contributions made to any cafeteria or flexible benefit plan maintained by the Company. Unless otherwise determined by the Plan Administrator, your regular,
normal workweek base wage does not include bonuses, overtime, commissions, cost of living pay, housing pay, relocation pay, other taxable fringe benefits and extraordinary compensation. Severance pay will be equal to the number of weeks of
severance pay granted according to the above formula multiplied by your regular, normal workweek base wage, as described above. 
  
 Your length of employment service with the Company may or may not include service with any predecessor company. Service with a predecessor company may be included to the
extent that the Plan Administrator determines that such employment service be included and notifies you that part or all of your service with any predecessor company will be counted. The Plan Administrator’s determination, in its discretion, of
the years of employment service completed and the weeks of severance pay granted will be final and binding on all persons. 
  
 Severance pay benefits will be paid to you in a lump sum, subject to deductions required by law which include, by example and not by limitation, applicable employment and
income taxes. 
  
 Notice 
  
 If a federal, state or local law does not require the Company, as an employer, to make a
payment to you or provide a specified period of notice related to your involuntary termination from employment, or pursuant to a plant closing law, and you are terminated because of a reduction in force or job elimination, the Company generally will
give you at least two weeks notice prior to your termination. If less than two weeks notice is provided by the Company, you will receive, in addition to the severance benefits described above, an amount of severance pay equal to your regular base
wage for your normal work week, multiplied by two, less the amount of your regular base wage paid over the period for which notice was given. 
  
 Integration With Plant Closing Law(s) 
  
 To the extent the Company makes a payment to you in connection with your involuntary termination from employment, because of a federal, state or local plant closing law,
the benefit 
  

 6 

 payable under this Plan shall be reduced by the amount of all such payments. The federal plant closing law (Worker
Adjustment and Retraining Notification Act) requires that notice be given under certain circumstances to certain employees that the Company will terminate their employment. If you are covered by this Plan and you are also entitled to a notice
pursuant to federal, state or local plant closing law, then the period for which severance pay under this Plan is payable shall be reduced for each week for which notice is required to be given to you, but only to the extent that you remain on
active payroll beyond the Company’s preferred termination date. 
  
 Other
Benefit Plans 
  
 If you are entitled to receive severance pay, you may be
eligible to continue participation in certain other benefits as well. However, continuation in various Company plans is subject to terms and conditions of the applicable plan documents or insurance contracts in effect on the date of your
termination. Each of these plans and contracts may be changed as provided by the terms of such plans. 
  
 When you terminate employment, you may elect to convert your group term life and dependent life insurance (spouse, child or both) to individual policies. If you choose to convert your life insurance benefits to
individual policies, contact the Human Resources Department and make application within 31 days of your termination. Your group participation in these life insurance plans will end on the last day of the month in which your employment is terminated.

  
 Your participation in Company medical and dental plans will end on the last
day of the month in which your employment is terminated. You have the option to continue your medical and dental coverage for up to 18 months under COBRA. If you elect COBRA continuation coverage, your premiums for COBRA will be limited to the
active employee rate for the first three months of coverage. At the end of such period, you will be required to pay the full cost under COBRA for the remainder of the 18-month period. To be eligible for this option, you must have elected COBRA
continuation coverage within the period of time allowed for making a COBRA election. You and your dependents will be notified by the COBRA Administrator of the opportunity to elect the COBRA continuation coverage. Participation in such plans will
generally cease on the date you or your dependents become covered under any other health plan which does not exclude coverage for pre-existing conditions you or your dependents may have. The full cost of COBRA coverage is explained in the
Continuation Coverage (COBRA) section in the Medical Plan and the Dental Plan Summary Plan Descriptions. 
  
 If you are age 50 at the time of the termination of employment due to a reduction in force or job elimination and you would otherwise meet eligibility
requirements for continuation of medical benefits under the Retiree Medical Program, such termination of employment will not change your eligibility for Retiree Medical coverage effective upon the attainment of age 55. You will have 30 days from the
date of your 55th birthday to contact the Company regarding your desire to commence your Retiree Medical benefits.
If you fail to notify the Company within 30 days of your 55th birthday, your opportunity to enroll in Retiree
Medical will end. 
  
 Your participation in any Flexible Spending Account ends on
the last day of the month in which your employment terminates. Participation in the Dependent Care Flexible Spending Account 
  

 7 

 cannot be continued. You may be eligible to continue participation in the Health Care Flexible Spending Account for a
limited time under COBRA. Participation under COBRA is on an after-tax basis. You and your dependents will be notified by the COBRA Administrator of the opportunity to elect the COBRA continuation coverage. 
  
 Participation in all other plans will end on the date of your employment termination. The
payment of any vested benefits in the Company’s retirement plans will be made in accordance with the respective plans’ terms. 
  
 You should schedule an exit interview to discuss these matters with your Human Resources Department at the time of your termination. 
  
 Paid Time Off 
  
 You will receive a single, lump sum payment for unused PTO time you have earned in accordance with the Company’s PTO policy.

  
 Rehired Employees 
  
 If you are rehired by the Company after you receive severance pay due to a reduction in
force or job elimination, you will be entitled to keep that portion of your severance pay equal to your regular, normal workweek base wage prior to your employment termination multiplied times the number of weeks and/or fraction of weeks between
your termination date and the rehire date. Any remainder must be either returned to the Company upon your rehire or it will be deducted from your pay as “overpaid wages.” 
  
 If you are rehired within the same calendar year in which your employment was terminated because of a reduction in force or job elimination
and you received payment for PTO earned but not taken, you may either retain the payment and forfeit the PTO time for which you were eligible prior to your employment termination, or you may return to the Company the amount you received and
reinstate PTO time for which you were eligible prior to termination. 
  
 If your
employment ends because of a reduction in force or job elimination and you are rehired by the Company, your years of service with the Company prior to such termination will be counted in determining your PTO benefits eligibility in future years.
Applicable PTO time on rehire will be determined in accordance with the Company’s PTO policy. 
  
 Prior years of service also will be counted for purposes of determining benefits under the short-term disability plan for employees who are rehired after being terminated due to a reduction in force or job
elimination. 
  
 If your employment ends because of a reduction in force or job
elimination and you are rehired by the Company within 12 months of your termination date, your years of service with the Company prior to such termination will be counted in determining your years of service for purposes of determining the amount of
your severance pay benefit in the event you should again become eligible for severance pay. 
  

 8 

 CLAIM REVIEW PROCEDURE 
  
 Initial Claim for Benefits 
  
 In order to claim benefits under this Plan, the claimant must be an eligible employee. Unless the Company automatically pays severance benefits otherwise, a written claim
must be filed within 90 days of the date upon which the claimant first knew (or should have known) of the facts upon which the claim for benefits is based. The claims review procedure described in this section shall apply to all claims any person
has with respect to the Plan, including claims against fiduciaries and former fiduciaries, except to the extent the Plan Administrator determines, in its sole discretion, that it does not have the power to grant, in substance, all relief reasonably
being sought by the claimant. You will have no right to seek review of a denial of benefits under the Plan prior to having filed a claim for benefits. The Plan Administrator shall have the power, including, without limitation, discretionary power,
to make all determinations that the Plan requires for its administration, and to construe and interpret the Plan whenever necessary to carry out its intent and purpose and to facilitate its administration, including, but not by way of limitation,
the discretion to grant or to deny claims for benefits under the Plan. All such rules, regulations, determinations, constructions and interpretations made by the Plan Administrator shall be conclusive and binding. 
  
 You will be notified of your claim’s approval or denial within 90 days after the receipt
of such claim unless special circumstances require an extension of time for processing the claim. If such an extension of time for processing is required, written notice of the extension shall be furnished to you prior to termination of the initial
90-day period which will specify the special circumstances requiring an extension and the date by which a final decision will be reached (which date will not be later than 180 days after the date of which the claim was filed). You will be given a
written notice as to whether the claim is granted or denied, in whole or in part. If you do not receive a written notice within the time periods stated above, your claim will be deemed denied. If the claim is denied, in whole or in part, you will be
given written notice that will contain: 1) the specific reasons for the denial, 2) reference(s) to pertinent Plan provisions upon which the denial is based, 3) a description of any additional material or information necessary to perfect the claim
and an explanation of why such material or information is necessary, and 4) notice of your right to seek a review of the denial. 
  
 Review of Claim Denial 
  
 If your claim is denied, in whole or in part, you will have the right to request that the Plan Administrator (or its designate), review the denial, provided you file a written request for review with the Plan
Administrator within 60 days after the date on which you received written notification of the denial. You (or your duly authorized representative) may review pertinent documents and submit issues and comments in writing to the Plan Administrator.
Within 60 days after a request for review is received, the review will be made and you will be advised in writing of the decision on review, unless special circumstances require an extension of time for processing the review, in which case you will
be given a written notification within such initial 60-day period specifying the reasons for the extension and when such review will be completed (provided that such review will be completed within 120 days after the date on which the request for
review was filed). 
  

 9 

 The decision on review will be forwarded to you in writing and will include specific reasons for the decision and
references to Plan provisions upon which the decision is based. 
  
 Exhaustion
of Review Remedies 
  
 You must properly file a claim for benefits, and
request a review of any complete or partial denial, prior to seeking a review of your claim for benefits in a court of law. A decision on a Review of Claim Denial (see preceding paragraph) will be the final decision of the Plan Administrator. After
this final decision is provided by the Plan Administrator, you may seek judicial remedies in accordance with your rights under the Employee Retirement Income Security Act of 1974 (ERISA). See the ERISA Information section in LiveLink on the Company
intranet. 
  
 Effect of Plan Administrator’s Decision on Claims

  
 The Plan Administrator will have the power, including, without
limitation, discretionary power, to make all determinations that the Plan requires for its administration, and to construe and interpret the Plan whenever necessary to carry out its intent and purpose and to facilitate its administration, including,
but not by way of limitation, the discretion to grant or to deny claims for benefits under the Plan. All such rules, regulations, determinations, constructions and interpretations made by the Plan Administrator will be conclusive and binding.

  
 TECHNICAL INFORMATION 
  
 The Plan is a welfare benefit plan providing benefits from the general assets of the Company.
Magellan Midstream Holdings, L.P. is the Plan Sponsor. For identification purposes, the Plan Sponsor has assigned to the Plan number 506. The employer identification number for Magellan Midstream Holdings, L.P. is 20-0019312. 
  
 PARTICIPATING COMPANIES 
  
 Magellan Midstream Holdings, L.P. offers participation in the Plan to certain of its
subsidiaries. Participants and beneficiaries may receive from the Plan Sponsor, upon written request, information as to whether a particular subsidiary participates in the Plan and, if so, such subsidiary’s address. 
  
 PLAN ADMINISTRATION 
  
 The administration and operation of the Plan is directed by a Benefits Committee appointed by
the Chairman of Magellan Midstream Holdings, L.P. The Benefits Committee is the Plan Administrator. The Plan Administrator has the authority to interpret the Plan, manage its operation and determine all questions arising in the administration,
interpretation and application of the Plan. The Benefits Committee does not receive any form of compensation from the Plan. 
  

 10 

 LEGAL AGENT 
  
 The agent for legal service is: 
  
 Benefits Committee 
 Magellan Midstream Holdings, L.P. Severance Pay Plan 
 c/o Magellan Midstream Holdings, L.P. 
 One Williams Center, 28-4 
 P.O. Box 22186 
 Tulsa, OK 74121-2186 
 (918) 574-7000 
  
 COMPANY
LOCATION 
  
 The address of the
Company’s executive offices is: 
  
 One
Williams Center 
 Tulsa, OK 74172 
  

PLAN AMENDMENT OR TERMINATION 
  
 The Plan Sponsor reserves the right to amend, modify or terminate the Plan at any time without notice or further obligation to any employee or any other person entitled
to receive benefits, if any, under the Plan. The Plan Sponsor also reserves the right to make any modifications or amendments to the Plan that are necessary or appropriate to qualify or maintain the Plan so that it satisfies the applicable
provisions of the Internal Revenue Code and ERISA. 
  
 Nothing contained in the
Plan or this summary will be construed to constitute a contract to provide benefits. 
  
 RIGHT TO EMPLOYMENT 
  
 The Company
reserves the right to discharge any employee and to pay such employee only the benefits, if any, to which he/she is entitled under Plan terms. The Plan is not an employment contract and does not give any employee any right to be retained in the
service of the Company. 
  

 11 

 ERISA RIGHTS 
  
 Employee Retirement Income Security Act of 1974 (ERISA) Rights 
  
 Participants in the Magellan Midstream Holdings, L.P. Severance Pay Plan have certain rights
and protections under the Employee Retirement Income Security Act of 1974 as amended (ERISA). ERISA provides that all Plan participants shall be entitled to: 
  

	1.	Examine without charge at the Plan Administrator’s office and at other specified locations, all Plan documents, including insurance contracts and copies of all documents filed
by the Plan with the U.S. Department of Labor, such as annual reports and Plan descriptions. 

  

	2.	Obtain copies of all Plan documents and other Plan information applicable to such Plan participants upon written request to the Plan Administrator. The Plan Administrator may make a
reasonable charge for the copies. 

  

	3.	Receive a summary of the Plan’s annual financial report. The Administrator is required by law to furnish each participant with a copy of this summary annual report.

  
 In addition to creating rights for Plan participants, ERISA
imposes duties upon the people who are responsible for the operation of an employee benefit plan. The people who operate the Plan, called “fiduciaries” of the Plan, have a duty to do so prudently and in the interest of you and other Plan
participants and beneficiaries. No one, including your employer, your union, or any other person, may fire you or otherwise discriminate against you in any way to prevent you from obtaining a benefit or exercising your rights under ERISA. If your
claim for a benefit is denied in whole or in part, you must receive a written explanation of the reason for the denial. You have the right to have the claim reviewed and reconsidered. 
  
 Under ERISA, there are steps you can take to enforce the above rights. For instance, if you request materials from the Plan and do not
receive them within 30 days, you may file suit in a federal court. In such a case, the court may require the Plan Administrator to provide the materials and pay you up to $110 a day until you receive the materials, unless the materials were not sent
because of reasons beyond the control of the Plan Administrator. If you have a claim for benefits that is denied or ignored, in whole or in part, you may file suit in a state or federal court. If it should happen that Plan fiduciaries misuse the
Plan’s money, or if you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor or you may file suit in a federal court. The court will decide who should pay court costs and legal fees. If
you are successful, the court may order the person you have sued to pay these costs and fees. If you lose, the court may order you to pay these costs and fees, for example, if it finds your claim is frivolous. 
  
 If you have any questions about your Plan, you should contact the Plan Administrator. If you
have any questions about this statement or about your rights under ERISA, you should contact the nearest Area Office of the U.S. Labor-Management Services Administration, Department of Labor. 
  
 The Plan is an employee welfare benefit plan within the meaning of ERISA.First Amendment dated as of December 22, 2003 to Credit Agreement dated 8/6/03

 Exhibit 10.2 
  
 FIRST AMENDMENT 
  
 FIRST AMENDMENT, dated as of December 22, 2003 (this “Amendment”), to the Credit Agreement, dated as of August 6, 2003 (as amended from
time to time, the “Credit Agreement”), among MAGELLAN MIDSTREAM PARTNERS, L.P., (f/k/a Williams Energy Partners L.P.), a Delaware limited partnership (the “Borrower”), the several banks and other financial
institutions or entities from time to time parties to the Credit Agreement (the “Lenders”), LEHMAN BROTHERS INC., as sole advisor and sole bookrunner (in such capacity, the “Bookrunner”), LEHMAN BROTHERS INC. and
BANC OF AMERICA SECURITIES, LLC, as joint lead arrangers (in such capacity, the “Joint Lead Arrangers”), BANK OF AMERICA, N.A., as syndication agent (in such capacity, the “Syndication Agent”), and LEHMAN COMMERCIAL
PAPER INC., as administrative agent (in such capacity, the “Administrative Agent”). 
  
 W I T N E S S E T H : 
  
 WHEREAS, pursuant to the Credit Agreement, the Lenders have agreed to make, and have made, certain loans and other extensions of credit to the Borrower;

  
 WHEREAS, Borrower has requested certain amendments to the
Credit Agreement as more fully set forth herein; and 
  
 WHEREAS,
the Lenders are willing to agree to such amendments on the terms and subject to the conditions contained in this Amendment. 
  
 NOW, THEREFORE, the parties hereto hereby agree as follows: 
  
 SECTION 1. Defined Terms. Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to
them in the Credit Agreement. 
  
 SECTION 2. Amendments to
Subsection 1.1. (a) The definitions of “Applicable Margin”, “Commitment”, “Facility”, “Term Loan Facilities”, “Term Loan Lenders” and “Term Loans” contained in Section 1.1 of the Credit
Agreement are hereby amended in their respective entireties to read as follows: 
  
 “Applicable Margin”: (a) for each Type of Loan under each Facility set forth below, the rate per annum set forth opposite
such Facility under the relevant column heading below: 
  

							
	 	  	Base Rate
Loans

	 	 	Eurodollar
Loans

	 
	 Revolving Credit Facility
	  	0.75	%	 	1.75	%
	 Tranche C Term Loan Facility
	  	1.00	%	 	2.00	%

  
 and (b) for each Type
of Loans under the Additional Term Loan Facility, the rate per annum set forth for such Type in the Additional Term Loan Supplement. 

 “Commitment”: with respect to any Lender, each of the Tranche C Term
Loan Commitment, the Additional Term Loan Commitment and the Revolving Credit Commitment of such Lender. 
  
 “Facility”: each of (a) the Tranche C Term Loan Commitments and the Tranche C Term Loans made thereunder (the
“Tranche C Term Loan Facility”), (b) the Additional Term Loan Commitments (if any) and the Additional Term Loans made thereunder (each such facility, an “Additional Term Loan Facility”) and (c) the Revolving Credit
Commitments and the extensions of credit made thereunder (the “Revolving Credit Facility”). 
  
 “Term Loan Facilities”: the collective reference to the Tranche C Term Loan Facility and the Additional Term Loan
Facility. 
  
 “Term Loan
Lenders”: the collective reference to the Tranche C Term Loan Lenders and the Additional Term Loan Lenders. 
  
 “Term Loans”: the collective reference to the Tranche C Term Loans and the Additional Term Loans. 
  
 (b) The definition of “Additional Term Loan Supplement” in Section
1.1 of the Credit Agreement is hereby amended by replacing the words “Tranche B” therein with the words “Tranche C”. 
  
 (c) The definition of “Free Cash Flow” in Section 1.1 of the Credit Agreement is hereby amended by replacing clause (iii) therein with the
following: 
  
 “(iii) the aggregate
principal amount of any repayments of Indebtedness by the Borrower during such period (other than (1) mandatory prepayments of the Loans, pursuant to Section 2.12, with the Net Cash Proceeds of any Disposition by any Subsidiary of any Property, to
the extent such mandatory prepayments are funded with distributions excluded from Free Cash Flow pursuant to subclause (x) of clause (a) above in this definition and (2) prepayments of Tranche B Term Loans as provided in the First Amendment)”.

  
 (d) The definition of “Interest Period” in Section
1.1 of the Credit Agreement is hereby amended by replacing the words “Tranche B” therein with the words “Tranche C”. 
  
 (e) Section 1.1 of the Credit Agreement is hereby amended by inserting the following new definitions in the appropriate alphabetical order: 
  
 “First Amendment”: the First Amendment,
dated as of December 22, 2003, to this Agreement. 
  
 “First Amendment Effective Date”: as defined in Section 10 of the First Amendment, which date is December 22, 2003. 

 “Tranche C Lender Addendum”: a Tranche C Lender Addendum, substantially
in the form of Exhibit A to the First Amendment, to be executed and delivered by such Lender on the First Amendment Effective Date as provided in Section 8 of the First Amendment. 
  
 “Tranche C Term Loan”: as defined in Section 2.1. 
  
 “Tranche C Term Loan Commitment”: as to any
Lender, the obligation of such Lender, if any, to make a Tranche C Term Loan to the Borrower hereunder on the First Amendment Effective Date in a principal amount not to exceed the amount set forth under the heading “Tranche C Term Loan
Commitment” opposite such Lender’s name on Schedule 1 to the Tranche C Lender Addendum delivered by such Lender, or, as the case may be, in the Assignment and Acceptance pursuant to which such Lender became a party hereto. The original
aggregate amount of the Tranche C Term Loan Commitments is $90,000,000.00. 
  
 “Tranche C Term Loan Facility”: as defined in the definition of “Facility” in this Section 1.1. 
  
 “Tranche C Term Loan Lender”: each Lender that has a Tranche C Term Loan Commitment or that holds a Tranche C Term Loan.

  
 “Tranche C Term Loan
Percentage”: as to any Tranche C Term Loan Lender at any time, the percentage which such Lender’s Tranche C Term Loan Commitment then constitutes of the aggregate Tranche C Term Loan Commitments (or, at any time after the First
Amendment Effective Date, the percentage which the aggregate principal amount of such Lender’s Tranche C Term Loan then outstanding constitutes of the aggregate principal amount of the Tranche C Term Loans then outstanding). 
  
 SECTION 3. Amendment to Section 2.1. Section 2.1(a) of the Credit
Agreement is hereby amended in its entirety to read as follows: 
  
 (a) Subject to the terms and conditions hereof, the Tranche C Term Loan Lenders severally agree to make term loans (each, a “Tranche C Term Loan”) to the Borrower on the First Amendment Effective Date
in an amount for each Tranche C Term Loan Lender not to exceed the amount of the Tranche C Term Loan Commitment of such Lender. 
  
 SECTION 4. Amendments to Section 2.3. Section 2.3(a) of the Credit Agreement is hereby amended in its entirety to read as follows: 
  
 (a) The Tranche C Term Loan of each Tranche C Term Loan
Lender shall mature in 5 annual installments, commencing on August 6, 2004, each of which shall be in an amount equal to such Lender’s Tranche C Term Loan Percentage multiplied by the amount set forth below opposite such installment:

  

				
	 Installment Date

	  	Principal Amount

	 August 6, 2004
	  	$	900,000.00
	 August 6, 2005
	  	$	900,000.00
	 August 6, 2006
	  	$	900,000.00
	 August 6, 2007
	  	$	900,000.00
	 August 6, 2008
	  	$	86,400,000.00

 SECTION 5. Amendment to Section 2.18. Section 2.18(a) of the Credit Agreement is hereby amended by
replacing the phrase “Tranche B Term Loan Percentages” therein with the phrase “Tranche C Term Loan Percentages”. 
  
 SECTION 6. Amendment to Section 4.16. Section 4.16 of the Credit Agreement is hereby amended by deleting the first sentence thereof and
substituting in lieu thereof the following: 
  
 “The proceeds of the Tranche C Term Loans shall be used to prepay the Tranche B Term Loans outstanding on the First Amendment Effective Date.” 
  
 SECTION 7. Amendment to Exhibit F-1. Exhibit F-1 to the Credit Agreement is hereby replaced in its entirety by
Exhibit B hereto. 
  
 SECTION 8. Joinder. From and after
the First Amendment Effective Date, each Tranche C Term Lender executing and delivering a Tranche C Lender Addendum in the form of Exhibit A hereto shall become a party to the Credit Agreement and have the rights and obligations of a Lender
thereunder and under the other Loan Documents and shall be bound by the other provisions thereof. 
  
 SECTION 9. Notice of Borrowing. (a) The Borrower shall give the Administrative Agent irrevocable notice (which notice must be received by the
Administrative Agent prior to 10:00 A.M., New York City time, (a) three Business Days prior to the anticipated First Amendment Effective Date (as defined below), in the case of Eurodollar Loans (provided that such notice shall contain an
agreement satisfactory to the Administrative Agent that the Borrower agrees to indemnify and hold harmless each Lender from any loss or expense that such Lender may sustain or incur (but excluding any loss of anticipated profits) as a consequence of
the First Amendment Effective Date not occurring, for any reason, on the anticipated First Amendment Effective Date set forth in such notice) and (b) one Business Day prior to the anticipated First Amendment Effective Date (as defined below), in the
case of Base Rate Loans) requesting that the Tranche C Term Loan Lenders make the requested Tranche C Term Loans on the First Amendment Effective Date, and specifying the amount to be borrowed. Upon receipt of such notice the Administrative Agent
shall promptly notify each Tranche C Term Loan Lender thereof. Not later than 12:00 Noon, New York City time, on the First Amendment Effective Date, each Tranche C Term Loan Lender shall make available to the Administrative Agent at the Funding
Office an amount in immediately available funds equal to the Tranche C Term Loan or Tranche C Term Loans to be made by such Lender; provided, however, that, at the option of each Tranche C Term Loan Lender that is a Tranche B Term Loan
Lender immediately prior to giving effect to this Amendment, all or a portion of the aggregate amount of Tranche B Term Loans of such Tranche C Term Loan Lender may be converted to Tranche C Term Loans and applied toward satisfaction of the
foregoing funding requirement. Subject to the immediately 

 preceding sentence, the Administrative Agent shall use the amounts made available to the Administrative Agent by the
Tranche C Term Loan Lenders to prepay the Tranche B Term Loans outstanding on such date. 
  
 (b) Notwithstanding anything to the contrary in the Credit Agreement or this Amendment, the Interest Period in effect on the First Amendment Effective Date in respect of the Tranche B Term Loans that are being
converted to Tranche C Term Loans on the First Amendment Effective Date (the “Current Interest Period”) will continue to be in effect for such Loans following the First Amendment Effective Date, and the initial Interest Period of
any new Tranche C Term Loan funded on the First Amendment Effective Date will end on the last day of the Current Interest Period. 
  
 (c) Any Lender that has converted some but not all of its Tranche B Term Loans to Tranche C Term Loans on the First Amendment Effective Date shall be
indemnified by the Borrower, with respect to the portion of the Tranche B Term Loans not converted to Tranche C Term Loans, as provided in Section 2.21 of the Credit Agreement, which indemnity amounts shall be paid to each such Lender on the First
Amendment Effective Date; provided, however, if a Lender converts all of its Tranche B Term Loans to an equivalent amount of Tranche C Term Loans on the First Amendment Effective Date, the indemnification provided in Section 2.21(c) of
the Credit Agreement shall not apply to such Lender on the First Amendment Effective Date. 
  
 SECTION 10. Conditions to Effectiveness. This Amendment shall become effective upon the date (the “First Amendment Effective Date”) on which the Administrative Agent shall have received:

  
 (a) this Amendment, executed and delivered by a duly
authorized officer of the Borrower; 
  
 (b) written consents to
the execution of this Amendment (“Lender Consent Letters”) from Lenders constituting the Required Lenders; 
  
 (c) a Tranche C Lender Addendum executed and delivered by each Tranche C Term Loan Lender and accepted by the Borrower; 
  
 (d) an executed Acknowledgment and Consent, in the form set forth at the end
of this Amendment, from each Loan Party other than the Borrower (such Acknowledgements and Consents, together with this Amendment, the “Amendment Documents”); 
  
 (e) a favorable written opinion (addressed to the Administrative Agent and the Lenders and dated the First Amendment
Effective Date) of each of (i) Vinson & Elkins L.L.P., counsel to the Borrower and its Subsidiaries and (ii) the general counsel of the Borrower, in each case covering such matters relating to the Loan Parties, the Loan Documents and this
Amendment as the Administrative Agent shall reasonably request; 
  
 (f) all fees required to be paid, and all reasonable out-of-pocket expenses for which invoices have been presented (including reasonable fees, disbursements and other charges of counsel to the Agents), on or before the First Amendment
Effective Date; 

 (g) subject to Section 9 hereof, satisfactory evidence that the outstanding principal amount of, and all
accrued and unpaid interest and other amounts due and payable on, the Tranche B Term Loans shall have been paid in full with the proceeds of the Tranche C Term Loans; 
  
 (h) a copy of the resolutions of the Board of Directors of each of Magellan GP, Inc. and Magellan GP, LLC, in form and
substance satisfactory to the Administrative Agent, each authorizing (i) the execution, delivery and performance of this Amendment and the other Loan Documents, as so amended, certified by the respective secretaries of the Board of Directors of
Magellan GP, Inc. and Magellan GP, LLC as of the First Amendment Effective Date, which certificates shall in each case state that the resolutions thereby certified have not been amended, modified, revoked or rescinded and are in full force and
effect; and 
  
 (i) a certificate duly executed by a Responsible
Officer certifying that no Default or Event of Default shall have occurred and be continuing on the First Amendment Effective Date or after giving effect to the Amendment. 
  
 The Administrative Agent shall notify the Borrower and the Lenders of the First Amendment Effective Date, and such notice
shall be conclusive and binding. Notwithstanding the foregoing, this Amendment shall not become effective unless each of the foregoing conditions is satisfied at or prior to 5:00 p.m., New York City time, on December 22, 2003 and the amendments
described herein shall not become effective. 
  
 SECTION 11.
Representations and Warranties. To induce the Administrative Agent to enter into this Amendment and to induce the Lenders to consent thereto and the Tranche C Term Loan Lenders to make the Tranche C Term Loans, the Borrower hereby represents
and warrants to the Agents and all of the Lenders as of the First Amendment Effective Date that: 
  
 (a) Each Loan Party has the corporate power and authority, and the legal right, to make and deliver the Amendment Documents to which it is a party and to
perform the Loan Documents to which it is a party, as amended by the Amendment Documents, and has taken all necessary corporate action to authorize the execution, delivery and performance of such Amendment Documents and the performance of such Loan
Documents, as so amended. 
  
 (b) No consent or authorization of,
approval by, notice to, filing with or other act by or in respect of, any Governmental Authority or any other Person is required in connection with the execution and delivery of the Amendment Documents or with the performance, validity or
enforceability of this Amendment or the Loan Documents, as amended by the Amendment Documents. 
  
 (c) Each Amendment Document has been duly executed and delivered on behalf of each Loan Party which is a party thereto. 
  
 (d) Each Amendment Document and each Loan Document, as amended by the Amendment Documents, constitutes a legal, valid and binding obligation of each Loan
Party which is a party thereto enforceable against such Loan Party in accordance with its terms, except to the extent that enforceability may be limited by applicable bankruptcy, insolvency, 

 reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general
equitable principles (whether enforcement is sought by proceedings in equity or at law). 
  
 (e) The execution, delivery and performance of the Amendment Documents and the performance of the Loan Documents, as amended by the Amendment Documents, does not and will not (i) violate or conflict with any
Requirement of Law or any organizational or other governing document of the Borrower or any of its Subsidiaries, (ii) violate, result in a breach of, constitute (with due notice or lapse of time or both) a default or cause any obligation, penalty or
premium to arise or accrue under, any Contractual Obligation of the Borrower or any of its Subsidiaries which, in the case of any Subsidiaries, could, in the aggregate, reasonably be expected to have a Material Adverse Effect, or (iii) result in, or
require the creation or imposition of any Lien upon, any Property of the Borrower or any of its Subsidiaries pursuant to any such Requirement of Law, any such organizational or other governing document, or any such Contractual Obligation (other than
the Liens created by the Security Documents). 
  
 (f) Each of the
representations and warranties made by the Borrower or any of its Subsidiaries in or pursuant to the Loan Documents that is qualified by materiality is true and correct on and as of the First Amendment Effective Date, after giving effect to the
effectiveness of this Amendment, as if made on and as of such date, and each of the representations and warranties made by the Borrower or any of its Subsidiaries in or pursuant to the Loan Documents that is not qualified by materiality is true and
correct in all material respects on and as of the First Amendment Effective Date, after giving effect to the effectiveness of this Amendment, as if made on and as of such date, except, in each case, to the extent that such representations and
warranties expressly relate to an earlier date, in which case such representations and warranties shall be true and correct, or true and correct in all material respects, as the case may be, as of such earlier date. 
  
 SECTION 12. Continuing Effect of the Credit Agreement. This Amendment
shall not constitute an amendment or waiver of or consent to any provision of the Credit Agreement or the other Loan Documents not expressly referred to herein and shall not be construed as an amendment, waiver or consent to any action on the part
of the Borrower that would require an amendment, waiver or consent of the Administrative Agent or the Lenders except as expressly stated herein. Except as expressly amended hereby, the provisions of the Credit Agreement and the other Loan Documents
are and shall remain in full force and effect in accordance with its terms. 
  
 SECTION 13. Counterparts. This Amendment may be executed by one or more of the parties to this Amendment on any number of separate counterparts (including by facsimile), and all of said counterparts taken
together shall be deemed to constitute one and the same instrument. 
  
 SECTION 14. GOVERNING LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by
their respective proper and duly authorized officers as of the day and year first above written. 
  

			
	 MAGELLAN MIDSTREAM PARTNERS, L.P.

		
	 By:
	 	MAGELLAN GP, LLC, its general partner
		
	 By:
	 	 /s/ John D. Chandler

	 Name:
	 	John D. Chandler
	 Title:
	 	Chief Financial Officer & Treasurer
	
	 LEHMAN COMMERCIAL PAPER INC.,

	 as Administrative Agent

		
	 By:
	 	 /s/ Francis Chang

	 Name:
	 	Francis Change
	 Title:
	 	Authorized Signatory

  

 ACKNOWLEDGMENT AND CONSENT 
  
 Reference is made to the Credit Agreement described in the foregoing Amendment (the “Credit Agreement”;
terms defined in the Credit Agreement being used in this Acknowledgment and Consent with the meanings given to such terms in the Credit Agreement). Each of the undersigned parties to the Guarantee and Collateral Agreement and/or one or more other
Security Documents, in each case as amended, supplemented or otherwise modified from time to time, hereby (a) consents to the foregoing Amendment and the transactions contemplated thereby and (b) acknowledges and agrees that the guarantees and
grants of security interests contained in the Guarantee and Collateral Agreement and other Security Documents are, and shall remain, in full force and effect after giving effect to the foregoing Amendment and all prior modifications to the Credit
Agreement. 
  
 THIS ACKNOWLEDGMENT AND CONSENT SHALL BE GOVERNED
BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
  
 [The remainder of this page is intentionally left blank.] 

			
	 MAGELLAN MIDSTREAM PARTNERS, L.P.

		
	 By:
	 	 Magellan GP, LLC, its General Partner

		
	 By:
	 	 /s/ John D. Chandler

	 Name:
	 	 John D. Chandler

	 Title:
	 	 Chief Financial Officer & Treasurer

	
	 MAGELLAN GP, INC.

		
	 By:
	 	 /s/ John D. Chandler

	 Name:
	 	 John D. Chandler

	 Title:
	 	 Chief Financial Officer & Treasurer

	
	 MAGELLAN OLP, L.P.

		
	 By:
	 	 Magellan GP, Inc., its General Partner

		
	 By:
	 	 /s/ John D. Chandler

	 Name:
	 	 John D. Chandler

	 Title:
	 	 Chief Financial Officer & Treasurer

	
	 MAGELLAN NGL, LLC

		
	 By:
	 	 /s/ John D. Chandler

	 Name:
	 	 John D. Chandler

	 Title:
	 	 Chief Financial Officer & Treasurer

	
	 MAGELLAN AMMONIA PIPELINE, L.P.

		
	 By:
	 	 Magellan NGL, LLC, its General Partner

		
	 By:
	 	 /s/ John D. Chandler

	 Name:
	 	 John D. Chandler

	 Title:
	 	 Chief Financial Officer & Treasurer

			
	 MAGELLAN TERMINALS HOLDINGS, L.P.

		
	 By:
	 	 Magellan NGL, LLC, its General Partner

		
	 By:
	 	 /s/ John D. Chandler

	 Name:
	 	 John D. Chandler

	 Title:
	 	 Chief Financial Officer & Treasurer

	
	 MAGELLAN PIPELINES HOLDINGS, L.P.

		
	 By:
	 	 Magellan NGL, LLC, its General Partner

		
	 By:
	 	 /s/ John D. Chandler

	 Name:
	 	 John D. Chandler

	 Title:
	 	 Chief Financial Officer & Treasurer

	
	 MAGELLAN ASSET SERVICES, L.P.

		
	 By:
	 	 Magellan NGL, LLC, its General Partner

		
	 By:
	 	 /s/ John D. Chandler

	 Name:
	 	 John D. Chandler

	 Title:
	 	 Chief Financial Officer & Treasurer

 EXHIBIT A 
 TO FIRST AMENDMENT 
  
 FORM
OF TRANCHE C LENDER ADDENDUM 
  
 December 22, 2003 
  
 Reference is made to the Credit Agreement, dated as of August 6, 2003, as
amended by the First Amendment thereto, dated as of December 22, 2003 (the “First Amendment”) (as so amended and as otherwise amended, supplemented or otherwise modified from time to time, the “Credit Agreement”),
among Magellan Midstream Partners, L.P. (f/k/a Williams Energy Partners L.P.), the Lenders parties thereto, Lehman Brothers Inc., as Bookrunner, Lehman Brothers Inc. and Banc of America Securities, L.L.C., as Joint Lead Arrangers, Bank of America,
N.A., as Syndication Agent and Lehman Commercial Paper Inc., as Administrative Agent. Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 

 
 Upon execution and delivery of this Tranche C Lender Addendum by the
parties hereto as provided in Section 8 of the First Amendment, the undersigned hereby becomes a Tranche C Term Loan Lender under the Credit Agreement having the Tranche C Term Loan Commitments set forth in Schedule 1 hereto, effective as of the
First Amendment Effective Date. 
  
 Schedule 1 hereto sets forth
the portion, if any, of the undersigned’s Tranche C Term Loan Commitment that the undersigned wishes to satisfy by converting to Tranche C Term Loans an equivalent portion of the undersigned’s outstanding Tranche B Term Loans. 

 
 THIS TRANCHE C LENDER ADDENDUM SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
  
 This Tranche C Lender Addendum may be executed by one or more of the parties hereto on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of
an executed signature page hereof by facsimile transmission shall be effective as delivery of a manually executed counterpart hereof. 
  

 IN WITNESS WHEREOF, the parties hereto have caused this Tranche C Lender Addendum to be duly executed and
delivered by their proper and duly authorized officers as of the date first written above. 
  

			
	  

	Name of Lender
		
	 By:
	 	  

	 Name:
	 	 
	Title:	 	 

 Accepted and agreed: 
  

			
	 MAGELLAN MIDSTREAM PARTNERS, L.P.

		
	 By:
	 	 MAGELLAN GP, LLC, its general partner

		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	 LEHMAN COMMERCIAL PAPER INC., as Administrative Agent

		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 

 Schedule 1 
  
 TRANCHE C TERM LOAN COMMITMENT 
  

					
	1.	  	 Name of Lender:
	 	____________________________
			
	2.	  	 Tranche C Term Loan Commitment:
	 	 $                                      
          

			
	3.	  	 Portion of existing Tranche B Term Loans to be converted to Tranche C Term Loans:
	 	 $                                      
          

			
	4.	  	 If a new Lender,
	 	____________________________
	 	  	 Notice Address:
	 	____________________________
	 	  	 	 	____________________________
	 	  	 Attention:
	 	____________________________
	 	  	 Telephone:
	 	____________________________
	 	  	 Facsimile:
	 	____________________________

 EXHIBIT B 
 TO FIRST AMENDMENT 
  
 EXHIBIT F-1 
  
 FORM OF TERM NOTE 
  
 THIS NOTE AND THE OBLIGATIONS REPRESENTED HEREBY MAY NOT BE TRANSFERRED EXCEPT IN COMPLIANCE
WITH THE TERMS AND PROVISIONS OF THE CREDIT AGREEMENT REFERRED TO BELOW. TRANSFERS OF THIS NOTE AND THE OBLIGATIONS REPRESENTED HEREBY MUST BE RECORDED IN THE REGISTER MAINTAINED BY THE ADMINISTRATIVE AGENT PURSUANT TO THE TERMS OF SUCH CREDIT
AGREEMENT. 
  

			
	 $                                
	 	New York, New York
	 	 	                         ,
200  

  
 FOR VALUE RECEIVED,
the undersigned, MAGELLAN MIDSTREAM PARTNERS, L.P. (f/k/a Williams Energy Partners L.P.), a Delaware limited partnership (the “Borrower”), hereby unconditionally promises to pay to
                (the “Lender”) or its registered assigns at the Payment Office specified in the Credit Agreement (as hereinafter defined) in
lawful money of the United States and in immediately available funds, the principal amount of (a)                     DOLLARS
($            ), or, if less, (b) the unpaid principal amount of the Tranche C Term Loan made by the Lender pursuant to Section 2.1 of the Credit Agreement. The principal amount
shall be paid in the amounts and on the dates specified in Section 2.3(a) of the Credit Agreement. The Borrower further agrees to pay interest in like money at such office on the unpaid principal amount hereof from time to time outstanding at the
rates and on the dates specified in Section 2.15 of the Credit Agreement. 
  
 The holder of this Note is authorized to indorse on the schedules annexed hereto and made a part hereof or on a continuation thereof which shall be attached hereto and made a part hereof the date, Type and amount of
the Tranche C Term Loan and the date and amount of each payment or prepayment of principal with respect thereto, each conversion of all or a portion thereof to another Type, each continuation of all or a portion thereof as the same Type and, in the
case of Eurodollar Loans, the length of each Interest Period with respect thereto. Each such indorsement shall constitute prima facie evidence of the accuracy of the information indorsed. The failure to make any such indorsement or any
error in any such indorsement shall not affect the obligations of the Borrower in respect of the Tranche C Term Loan. 
  
 This Note (a) is one of the Term Notes referred to in the Credit Agreement dated as of August 6, 2003 (as amended, supplemented or otherwise modified from
time to time, the “Credit Agreement”), among the Borrower, the Lender, the other Lenders parties thereto, Lehman Commercial Paper Inc., as Administrative Agent, Lehman Brothers Inc., as Bookrunner, and others, (b) is subject to the
provisions of the Credit Agreement and (c) is subject to optional and mandatory prepayment in whole or in part as provided in the Credit Agreement. This Note 

 is secured and guaranteed as provided in the Loan Documents. Reference is hereby made to the Loan Documents for a
description of the properties and assets in which a security interest has been granted, the nature and extent of the security and the guarantees, the terms and conditions upon which the security interests and each guarantee were granted and the
rights of the holder of this Note in respect thereof. 
  
 Upon the
occurrence of any one or more of the Events of Default, all principal and all accrued interest then remaining unpaid on this Note shall become, or may be declared to be, immediately due and payable, all as provided in the Credit Agreement.

  
 All parties now and hereafter liable with respect to this
Note, whether maker, principal, surety, guarantor, indorser or otherwise, hereby waive presentment, demand, protest and all other notices of any kind. 
  
 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.

  
 NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN
OR IN THE CREDIT AGREEMENT, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT PURSUANT TO AND IN ACCORDANCE WITH THE REGISTRATION AND OTHER PROVISIONS OF SECTION 10.6 OF THE CREDIT AGREEMENT. 
  
 THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

  

			
	 MAGELLAN MIDSTREAM PARTNERS, L.P.

		
	 By:
	 	 MAGELLAN GP, LLC, its general partner

		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 

  

 Schedule A 
 to Term Note 
  
 LOANS, CONVERSIONS
AND REPAYMENTS OF BASE RATE LOANS 
  

													
	 Date

	  	Amount of
Base Rate Loans

	 	Amount Converted to
Base Rate Loans

	 	 Amount of Principal of
 Base Rate Loans Repaid

	 	 Amount of Base Rate
 Loans Converted to
 Eurodollar Loans

	 	Unpaid Principal Balance
of Base Rate Loans

	 	Notation Made By

	 	  	 	 	 	 	 	 	 	 	 	 	 
	 	  	 	 	 	 	 	 	 	 	 	 	 
	 	  	 	 	 	 	 	 	 	 	 	 	 
	 	  	 	 	 	 	 	 	 	 	 	 	 
	 	  	 	 	 	 	 	 	 	 	 	 	 
	 	  	 	 	 	 	 	 	 	 	 	 	 
	 	  	 	 	 	 	 	 	 	 	 	 	 
	 	  	 	 	 	 	 	 	 	 	 	 	 
	 	  	 	 	 	 	 	 	 	 	 	 	 
	 	  	 	 	 	 	 	 	 	 	 	 	 

  

 Schedule B 
 to Term Note 
  
 LOANS,
CONTINUATIONS, CONVERSIONS AND REPAYMENTS OF EURODOLLAR LOANS 
  

															
	 Date

	  	Amount of
Eurodollar Loans

	 	 Amount Converted to
 Eurodollar Loans

	 	 Interest Period and
 Eurodollar
Rate with
 Respect Thereto

	 	 Amount of
 Principal of
Eurodollar
 Loans Repaid

	 	 Amount of Eurodollar
 Loans Converted to
 Base Rate Loans

	 	 Unpaid Principal
 Balance of
 Eurodollar Loans

	 	Notation Made By

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00066-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00066-of-00352.parquet"}]]