Document:

exv4w2

Exhibit 4.2

     Unless this certificate is presented by an authorized representative of The Depository
Trust Company, a New York Corporation (“DTC”), to the Company or its agent for registration of
transfer, exchange, or payment, and any certificate issued is registered in the name of Cede & Co.
or in such other name as is requested by an authorized representative of DTC (and any payment is
made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC),
ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
inasmuch as the registered owner hereof, Cede & Co., has an interest herein.

	 	 	 

	Certificate No.: 1

	 	CUSIP No.: 637432ML6
	ISIN No.: US637432ML65
	 	 
	PRINCIPAL AMOUNT: $350,000,000
	 	 
	MATURITY DATE: November 1, 2015
	 	 
	ISSUE DATE: November 1, 2010

	 	CERTIFICATE INTEREST RATE: 1.900%

1.900% COLLATERAL TRUST BOND DUE 2015

          National Rural Utilities Cooperative Finance Corporation, a District of Columbia cooperative
association (hereinafter called the “Company”, which term includes any successor corporation under
the Indenture referred to on the reverse hereof), for value received, hereby promises to pay to
Cede & Co., or registered assigns, the principal sum of $350,000,000 on the Maturity Date set forth
above; and to pay interest thereon from the Issue Date set forth above at the Certificate Interest
Rate set forth above, until the principal hereof is paid or made available for payment.

          Interest on the Bonds will be payable on May 1 and November 1 of each year commencing on May
1, 2011 to the persons in whose names such Bonds are registered at the close of business on the
fifteenth calendar day preceding the payment date, or if not a Business Day, the next succeeding
Business Day. Interest on the Bonds will accrue from and including the date of issue or from and
including the last date in respect of which interest has been paid, as the case may be, to, but
excluding, the relevant interest payment date, date of redemption or the date

 

 

of maturity, as the case may be. Interest on the Bonds will be computed on the basis of a
360-day year of twelve 30-day months.

          If any of the interest payment dates or the maturity date falls on a day that is not a
Business Day, the payment of interest or principal will be postponed to the next succeeding
Business Day, but the payment made on such dates will be treated as being made on the date payment
was first due and the holders of the Bonds will not be entitled to any further interest or other
payments with respect to such postponements.

          Reference is hereby made to the further provisions of this Bond set forth on the reverse
hereof which further provisions shall for all purposes have the same effect as if set forth at this
place.

          Unless the certificate of authentication hereon has been executed by or on behalf of U.S. Bank
National Association, as Trustee under the Indenture, or its successor thereunder, by manual
signature, this Bond shall not be entitled to any benefit under such Indenture, or be valid or
obligatory for any purpose.

 

 

          IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal.

	 	 	 	 	 
	 	NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE CORPORATION

 	 
	 	By:  	 	 
	 	 	J. Andrew Don 	 
	 	 	Senior Vice President & Treasurer 	 
	 

	 	 	 	 	 
	 	(Seal)

Attest:

 	 
	 	By:  	 	 
	 	 	Assistant Secretary-Treasurer 	 
	 	 	 	 
	 	Trustee’s Certificate of

Authentication

This is one of the Bonds

of the series designated therein,

described in the within-

mentioned Indenture

Dated:

 	 
	 	By:  	U.S. BANK NATIONAL ASSOCIATION,
 	 
	 	 	Trustee 	 
	 	 	 	 
	 	By:  	 	 
	 	 	Authorized Officer 	 
	 	 	 	 
	 

 

 

REVERSE OF BOND

          This Bond is one of an authorized issue of Bonds of the Company known as its “1.900%
Collateral Trust Bonds due 2015”, issued and to be issued in one or more series under, and all
equally and ratably secured (except as any sinking or other fund may afford additional special
security for the Bonds of any particular series) by, an Indenture dated as of October 25, 2007 (as
amended, supplemented and modified and in effect from time to time, the “Indenture”), executed by
the Company to U.S. Bank National Association, as Trustee (herein called the “Trustee”, which term
includes any successor Trustee under the Indenture), to which Indenture reference is hereby made
for a description of the nature and extent of the securities and other property assigned, pledged,
transferred and mortgaged thereunder the rights of the Holders of said Bonds and of the Trustee and
of the Company in respect of such security, and the terms upon which said Bonds are to be
authenticated and delivered.

          The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the
Bonds under the Indenture at any time by the Company with the consent of the Holders of not less
than a majority in aggregate principal amount of the Bonds at the time Outstanding as defined in
the Indenture. The Indenture also permits, without the consent of the holders of any Bonds, the
parties to any Mortgage Notes pledged under the Indenture, and any Mortgages or Loan Agreements
pursuant to which they were issued, to modify, alter, supplement or amend such Mortgage Notes,
Mortgages and Loan Agreements, so long as thereafter such Mortgage will comply with the
requirements of the Company’s standard lending practices, as such policies may be amended from time
to time. The Indenture also contains provisions permitting the Holders of specified percentages in
principal amount of the Bonds at the time Outstanding, on behalf of the Holders of all Bonds, to
waive compliance by

 

 

the Company with certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of this Bond shall be
binding upon such Holder and upon all future Holders of this Bond and of any Bond issued upon the
transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such action is
made upon this Bond.

          As provided in the Indenture, said Bonds are issuable in series which may vary as in said
Indenture provided or permitted. This Bond is one of a series entitled 1.900% Collateral Trust
Bonds due 2015.

          The Company may redeem the Bonds in whole or in part at any time, at a “make-whole” redemption
price equal to the greater of (1) 100% of the principal amount being redeemed or (2) the sum of the
present values of the remaining scheduled payments of the principal and interest (other than
accrued interest) on the Bonds being redeemed, discounted to the redemption date on a semi-annual
basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 15
basis points for the Bonds, plus in each of (1) and (2) above, accrued interest to the redemption
date.

          If the Company elects to redeem less than all of the Bonds, and such Bonds are at the time
represented by a global security, then the depositary will select by lot the particular interest to
be redeemed. If the Company elects to redeem less than all of the Bonds, and such Bonds are not
represented by a global security, the particular Bonds to be redeemed shall be selected by the
Trustee from the outstanding Bonds not previously called for redemption, in a manner the Trustee
deems appropriate and fair.

          Notice of any redemption will be mailed at least 30 days but not more than 60 days before the
date of redemption to each holder of the Bonds to be redeemed. Unless the Company defaults in
payment of the redemption price, on and after the date of redemption,

 

 

interest will cease to accrue on such Bonds or the portions called for redemption.

          If an Event of Default, as defined in the Indenture, shall occur, the principal of this Bond
may become or be declared due and payable immediately, in the manner and with the effect provided
in the Indenture.

          This Bond is transferable by the registered owner hereof in person or by attorney authorized
in writing at the office or agency of the Company in the Borough of Manhattan, City and State of
New York or any other place or places where such Bond may be paid, upon surrender of this Bond, and
upon any such transfer a new Bond for the same series, for the same aggregate principal amount,
will be issued to the transferee in exchange hereof.

          The Bonds of this series are issuable only as registered Bonds without coupons in minimum
denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in, and
subject to the provisions of, the Indenture, Bonds of this series are exchangeable for other Bonds
of this series of any authorized denominations, of a like aggregate principal amount, as requested
by the Holder surrendering the same.

          No service charge will be made for any such transfer or exchange, but the Company or the
Trustee may require payment of a sum sufficient to cover any tax or other governmental charge
payable in connection therewith.

          Prior to due presentment for transfer at any office or agency of the Company designated for
such purpose, the Company, the Trustee and any agent of the Company or the Trustee may treat the
person in whose name this Bond is registered as the owner hereof for the purpose of receiving
payment as herein provided and for all other purposes whether or not this Bond be overdue, and
neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

 

 

          No reference herein to the Indenture and no provision of this Bond or of the Indenture shall
alter or impair the obligation of the Company, which is absolute and unconditional, to pay the
principal of, and interest on this Bond at the times, place and rate, and in the coin or currency,
herein prescribed.

          The following terms shall have the following meanings:

          “Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day
on which banking institutions in the Borough of Manhattan, City and State of New York are
authorized by law to close.

          “Comparable Treasury Issue’’ means the United States Treasury security selected by an
Independent Investment Banker as having a maturity comparable to the remaining term of the Bonds
being redeemed that would be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt securities of comparable maturity to
the remaining term of such Bonds.

          “Comparable Treasury Price’’ means with respect to any redemption date, (A) the average of the
Reference Treasury Dealer Quotations for the redemption date, after excluding the highest and
lowest Reference Treasury Dealer Quotations for that redemption date, or (B) if the Company obtains
fewer than four Reference Treasury Dealer Quotations, the average of all the Reference Treasury
Dealer Quotations obtained.

          “Independent Investment Banker’’ means one of the Reference Treasury Dealers appointed by the
trustee after consultation with the Company.

          “Reference Treasury Dealer’’ means (1) each of Merrill Lynch, Pierce, Fenner & Smith
Incorporated (as successor in interest to Banc of America Securities LLC), J.P. Morgan Securities
LLC and Mizuho Securities USA Inc. and their respective successors; provided, however, that if any
of them ceases to be a primary U.S. Government securities dealer in the

 

 

United States, the Company will appoint another primary U.S. Government securities dealer as a
substitute and (2) any other U.S. Government securities dealers selected by the Company.

     “Reference Treasury Dealer Quotations’’ means, for each Reference Treasury Dealer and any
redemption date, the average, as determined by the trustee, of the bid and ask prices for the
Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted
in writing to the Trustee by the Reference Treasury Dealer at 5:00 p.m. New York City time on the
third business day preceding the redemption date for the bonds being redeemed.

     “Treasury Rate’’ means, for any redemption date, the rate per annum equal to the semi-annual
equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable
Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury
Price for the redemption date.

     All terms used in this Bond which are defined in the Indenture shall have the meanings
assigned to them in the Indenture.

 

 

ASSIGNMENT

          
For value received the undersigned sells, assigns and transfers unto
(name, address including zip code and taxpayer I.D. or Social Security number of assignee)

 

________________________________________________________ the within Certificate and does hereby irrevocably constitute and
appoint ______________________________________________ attorney to transfer the said Certificate on the books kept for

registration thereof with full power of substitution on the premises.

Dated: _______________________

______________________________________________

Signature by or on behalf of Assignorexv10w1

Exhibit 10.1

 

 

PURCHASE AND SALE AGREEMENT

between

WILLIAMS COAL SEAM GAS ROYALTY TRUST

as Seller,

and

WILLIAMS PRODUCTION COMPANY, LLC

as Buyer

 

Dated as of October 27, 2010

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page
	 
	ARTICLE I DEFINITIONS AND REFERENCES	 	 	1	 
	Section 1.1	 	Definitions
	 	 	1	 
	Section 1.2	 	References, Gender, Number
	 	 	5	 
	 	 	 	 	 
	 	 	 	 
	ARTICLE II SALE AND PURCHASE	 	 	6	 
	Section 2.1	 	Sale and Purchase
	 	 	5	 
	Section 2.2	 	Allocation of Distributions
	 	 	5	 
	 	 	 	 	 
	 	 	 	 
	ARTICLE III CONSIDERATION AND PAYMENT	 	 	6	 
	Section 3.1	 	Consideration and Purchase Price
	 	 	6	 
	Section 3.2	 	Payment Instructions
	 	 	6	 
	Section 3.3	 	Costs and Expenses
	 	 	7	 
	 	 	 	 	 
	 	 	 	 
	ARTICLE IV PURCHASE PRICE ADJUSTMENTS	 	 	7	 
	    [Intentionally Omitted]	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	ARTICLE V REPRESENTATIONS AND WARRANTIES	 	 	7	 
	Section 5.1	 	Representations and Warranties of Seller
	 	 	7	 
	Section 5.2	 	Representations and Warranties of Buyer
	 	 	9	 
	 	 	 	 	 
	 	 	 	 
	ARTICLE VI CLOSING	 	 	10	 
	Section 6.1	 	Closing
	 	 	10	 
	Section 6.2	 	Seller’s Closing Obligations
	 	 	11	 
	Section 6.3	 	Buyer’s Closing Obligations
	 	 	11	 
	Section 6.4	 	Survival Past Closing
	 	 	11	 
	 	 	 	 	 
	 	 	 	 
	ARTICLE VII MISCELLANEOUS	 	 	12	 
	Section 7.1	 	Counterparts
	 	 	12	 
	Section 7.2	 	Governing Law; Consent to Jurisdiction
	 	 	12	 
	Section 7.3	 	Waiver of Jury Trial
	 	 	12	 
	Section 7.4	 	Entire Agreement
	 	 	12	 
	Section 7.5	 	Notices
	 	 	12	 
	Section 7.6	 	Successors and Assigns; Assignment
	 	 	13	 
	Section 7.7	 	Amendments and Waivers
	 	 	13	 
	Section 7.8	 	Schedules and Exhibits
	 	 	14	 
	Section 7.9	 	Agreement for the Parties’ Benefit Only
	 	 	14	 

i 

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page
	 
	Section 7.10	 	Severability
	 	 	14	 
	Section 7.11	 	No Retained Liens
	 	 	14	 
	Section 7.12	 	No Recourse to Officers, Etc.
	 	 	14	 
	Section 7.13	 	Further Cooperation
	 	 	15	 
	Section 7.14	 	Access to Information
	 	 	15	 

SCHEDULES

	 	 	 	 	 

	Schedule 1.1

	 	—
	 	List of Persons with Knowledge
	Schedule 1.2

	 	—
	 	Recording Schedule of Original Conveyance
	Schedule 5

	 	—
	 	Disclosures

EXHIBITS

	 	 	 	 	 

	Exhibit A

	 	—
	 	Affidavit of Non-Foreign Status
	Exhibit B

	 	—
	 	Form of Conveyance
	Exhibit C

	 	—
	 	Form of New Gas Purchase Agreement
	Exhibit D

	 	—
	 	Form of Legal Opinion
	Exhibit E

	 	—
	 	Form of NPI Amendment

ii 

 

PURCHASE AND SALE AGREEMENT

     THIS PURCHASE AND SALE AGREEMENT (herein referred to as this “Agreement”), dated as of October
27, 2010, is by and between Williams Coal Seam Gas Royalty Trust, a Delaware statutory trust
(“Seller”), and Williams Production Company, LLC, a Delaware limited liability company (“Buyer”).

WITNESSETH:

     WHEREAS, Seller owns a Net Profits Interest consisting of an interest in and to the coalbed
methane in and under and that may be produced from or attributable to certain mineral properties;
and

     WHEREAS, Seller intends to sell to Buyer, and Buyer intends to purchase from Seller, such Net
Profits Interest upon the terms and subject to the conditions described herein; and

     NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth,
the parties hereto agree as follows:

ARTICLE I

DEFINITIONS AND REFERENCES

     Section 1.1 Definitions.

     When used in this Agreement, the following terms have the following meanings:

     “Action” means any action, claim, suit, arbitration, inquiry, proceeding, investigation,
condemnation or audit by or before any court or other Governmental Authority or any arbitrator or
panel of arbitrators.

     “Affidavit of Non-Foreign Status” means the Affidavit of Non-Foreign Status of even date
herewith by Seller in the form attached hereto as Exhibit A.

     “Affiliate” means, as to the Person specified, any Person (a) controlling, controlled by or
under common control with such specified Person, (b) which beneficially owns or holds 25% or more
of any class of stock or other equity interest of such specified Person, or (c) 25% or more of any
class whose stock or equity interest is beneficially owned or held by such specified Person and its
Affiliates. The concept of control, controlling, or controlled as used in this context means the
possession, directly or indirectly, of the power to direct or cause the direction of the management
and policies of another, whether through the ownership of voting securities, by contract, or
otherwise. The transactions contemplated hereby shall not be considered or taken into account in
determining if any Person is an Affiliate of any other Person, and no Person shall be deemed an
Affiliate of any Person by reason of any rights, interests, or remedies of either Person under this
Agreement or the other Transaction Documents.

     “Agreement” has the meaning stated in the first paragraph hereof.

     “Btu” means a British thermal unit.

1

 

     “Business Day” means a day (other than a Saturday or Sunday) on which commercial banks in
Texas are generally open for business.

     “Buyer” has the meaning stated in the first paragraph of this Agreement.

     “Closing” means the consummation of the transaction contemplated by this Agreement as provided
in Article VI.

     “Closing Date” means the date of this Agreement.

     “Closing Statement” has the meaning set forth in Section 6.2(c).

     “Code” means the Internal Revenue Code of 1986, as amended, and any successor thereto.

     “Conveyance” means the Assignment, Bill of Sale and Conveyance of even date herewith between
Seller and Buyer, substantially in the form attached hereto as Exhibit B.

     “Defensible Title” means record and beneficial title of Seller in and to the Net Profits
Interest that entitles Seller to receive not less than the ownership interests stated in the
Original Conveyance and that is free and clear of any and all royalties, overriding royalties,
production payments, liens, Taxes, encumbrances, mortgages, security interests and defects that
would result in a loss of any interest in the Net Profits Interest.

     “Effective Date” means 12:01 a.m. (Mountain Time) on September 1, 2010.

     “Environmental Laws” means all Laws that relate to (a) the prevention, abatement or
elimination of pollution, or the protection of the environment or natural resources, (b) the
generation, handling, treatment, storage, disposal, release or transportation of waste materials or
hazardous or toxic substances, or (c) the regulation of or exposure to hazardous, toxic or other
substances alleged to be harmful, including the Comprehensive Environmental Response, Compensation
and Liability Act, 42 U.S.C. § 9601, et seq.; the Resource Conservation and Recovery Act, 42 U.S.C.
§ 6901, et seq.; the Federal Water Pollution Control Act (Clean Water Act), 33 U.S.C. § 1251, et
seq.; the Clean Air Act, 42 U.S.C. § 7401, et seq.; the Hazardous Materials Transportation Act, 49
U.S.C. § 1471, et seq.; the Toxic Substances Control Act, 15 U.S.C. § 2601, et seq.; the Oil
Pollution Act, 33 U.S.C. § 2701, et seq.; the Emergency Planning and Community Right-to-Know Act,
42 U.S.C. § 11001, et seq.; the Safe Drinking Water Act, 42 U.S.C. §§ 300f through 300j; and the
Endangered Species Act, 16 U.S.C. § 1531, et seq.; and all similar Laws of any Governmental
Authority having jurisdiction over the property in question.

     “Excess Capital Costs” shall have the meaning given such term in the Original Conveyance.

     “Existing Gas Purchase Agreement” means the Sales Contract as such term is defined in the
Original Conveyance.

2

 

     “Gas” means natural gas, casinghead gas and other gaseous hydrocarbons, as well as any mixture
of hydrocarbon gases and noncombustible gases consisting essentially of methane, including any
natural gas liquids removable by processing, but excluding helium, crude oil, condensate and other
liquid hydrocarbons removed by conventional mechanical field separation.

     “Governmental Authority” means (a) the United States of America, (b) any state, county,
parish, municipality, or other governmental subdivision within the United States of America, and
(c) any court or any governmental, regulatory or administrative department, commission, board,
bureau, agency, or other instrumentality of the United States of America or of any state, county,
parish, municipality, or other governmental subdivision within the United States of America.

     “Hydrocarbons” mean Oil and Gas.

     The term “knowledge” when used with reference to Seller as to a particular fact, circumstance
or condition, means the current actual knowledge (as opposed to any constructive or imputed
knowledge) of any Person listed in Schedule 1.1 without inquiry or due diligence on the
part of such Person. For the avoidance of doubt, any representation or warranty contained herein
limited to the knowledge of Seller shall not include or imply any duty to make inquiry or undertake
due diligence on the part of the Persons listed in Schedule 1.1.

     “Law” means any applicable statute, law (including common law), ordinance, regulation, rule,
ruling, order, restriction, requirement, writ, injunction, decree, or other official act of or by
any Governmental Authority.

     “Lease” means an oil, gas or mineral lease, a deed, or any other instrument creating or
evidencing ownership of oil, gas or mineral interests constituting a part of the Underlying
Properties, together with any renewal, amendment, ratification or extension of such lease, deed or
other instrument.

     “Net Profits Interest” means, collectively, (a) the Net Profits Interest (as defined in the
Original Conveyance) and the Infill Net Profits Interest (as defined in the Original Conveyance)
granted to Seller pursuant to the terms of the Original Conveyance and (b) all other interests,
rights, benefits and privileges of Seller arising under, or created by, the terms and provisions of
the Original Conveyance.

     “New Gas Purchase Agreement” means the Gas Purchase Agreement of even date herewith between
WPX Gas Resources Company and Williams Production Company, substantially in the form attached
hereto as Exhibit C.

     “NPI Amendment” the Amendment to Net Profits Conveyance of even date herewith between Williams
Production Company LLC and Bank of America, N.A., as Trustee of Seller, and also for the benefit of
the Bank of New York Mellon Trust Company, N.A., as Delaware Trustee of Seller, substantially in
the form attached hereto as Exhibit E.

     “Oil” means crude oil, condensate and other liquid hydrocarbons, including condensate and
other liquid hydrocarbons removed by conventional mechanical field separation, but excluding
natural gas liquids removable by processing.

3

 

     “Original Conveyance” means the Net Profits Conveyance dated effective as of October 1, 1992
by and among Williams Production Company, The Williams Companies, Inc., Bank of America, N.A. (as
successor in interest to NationsBank of Texas, N.A., as Trustee of Seller, and The Bank of New York
Mellon Trust Company, N.A. (as successor in interest to Chemical Bank Delaware), as Delaware
Trustee of Seller, and recorded as set forth in Part A of Schedule 1.2, as such has been
supplemented and amended by the Supplemental Net Profits Conveyance entered into in May 2010 by and
between Williams Production Company LLC and Bank of America, N.A., as Trustee of Seller, and also
for the benefit of the Bank of New York Mellon Trust Company, N.A., as Delaware Trustee of Seller,
and recorded as set forth in Part B of Schedule 1.2, and as such has been further amended
by the NPI Amendment.

     “Permits” means all licenses, permits, certificates, orders, approvals, franchises,
exemptions, variances, waivers and authorizations of any Governmental Authority, including
applications therefor, necessary or required to own the Net Profits Interest (including those
required by Environmental Laws).

     “Person” means any Governmental Authority or any natural person, firm, partnership,
corporation, limited liability company, joint venture, trust, unincorporated organization, or other
entity or organization.

     “Preference Right” means any right or agreement that enables or may enable any Person to
purchase or acquire any Underlying Property, the Net Profits Interest or any interest therein or
portion thereof as a result of the conveyance, sale, assignment, and transfer of the Net Profits
Interest to Buyer.

     “Purchase Price” means $23,100,000.00.

     “Seller” has the meaning stated in the first paragraph of this Agreement.

     “Solvent” means that, as of any date of determination as to any Person, before and after
giving effect to the transactions contemplated by this Agreement (a) the amount of the “present
fair saleable value” of the assets of such Person will, as of such date, exceed the amount of all
“liabilities of such Person, contingent or otherwise”, as of such date, as such quoted terms are
determined in accordance with applicable federal and state laws governing determinations of the
insolvency of debtors, (b) the present fair saleable value of the assets of such Person will, as of
such date, be greater than the amount that will be required to pay the liability of such Person on
its debts as such debts become absolute and matured, (c) such Person will not have, as of such
date, an unreasonably small amount of capital with which to conduct its business, and (d) such
Person will be able to pay its debts as they mature. For purposes of this definition, (i) “debt”
means liability on a “claim”, and (ii) “claim” means any (A) right to payment, whether or not such
a right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured,
disputed, undisputed, legal, equitable, secured or unsecured or (B) right to an equitable remedy
for breach of performance if such breach gives rise to a right to payment, whether or not such
right to an equitable remedy is reduced to judgment, fixed, contingent, matured or unmatured,
disputed, undisputed, secured or unsecured.

     “Specified Courts” has the meaning stated in Section 7.2.

4

 

     “Taxes” means all ad valorem, property, gathering, transportation, pipeline regulating, gross
receipts, severance, production, gross production, excise, heating content, carbon, environmental,
occupation, sales, use, registration, value added, fuel, real estate transfer, utility, mineral,
land holding, storage, windfall profits and other taxes and governmental charges and assessments
imposed on or as a result of all or any part of the Net Profits Interest or the proceeds thereof.
Interest, penalties and withholding obligations owing to Governmental Authorities with respect to
any Taxes shall also constitute Taxes.

     “Transaction Documents” means this Agreement, the Conveyance or any other document entered
into among Seller and Buyer in connection therewith and herewith.

     “Trust Agreement” means the Trust Agreement of Seller dated effective December 1, 1992, as
amended.

     “Underlying Properties” has the meaning given to such term in the Original Conveyance.

     “WPC” means Williams Production Company, LLC.

     Section 1.2 References, Gender, Number.

     All references in this Agreement to articles, sections, subsections and other subdivisions
refer to corresponding articles, sections, subsections and other subdivisions of this Agreement
unless expressly provided otherwise. Titles appearing at the beginning of any of such articles,
sections, subsections or other subdivisions are for convenience only and shall not constitute part
of such articles, sections, subsections or other subdivisions and shall be disregarded in
construing the language contained in such articles, sections, subsections or other subdivisions.
The words “this Agreement”, “this instrument”, “herein”, “hereof”, “hereunder”, and words of
similar import refer to this Agreement as a whole and not to any particular article, section,
subsection or other subdivision unless expressly so limited. Unless the context otherwise
requires: “including” and its grammatical variations mean “including without limitation”; “or” is
not exclusive; words in the singular form shall be construed to include the plural and vice versa;
words in any gender include all other genders; references herein to any instrument or agreement
refer to such instrument or agreement as it may be amended or supplemented from time to time; and
references herein to any Person include such Person’s successors and assigns. All references in
this Agreement to exhibits and schedules refer to exhibits and schedules to this Agreement unless
expressly provided otherwise, and all such exhibits and schedules are hereby incorporated herein by
reference and made a part hereof for all purposes. This Agreement has been drafted with the joint
participation of Seller and Buyer and shall be construed neither against nor in favor of any such
party but rather in accordance with the fair meaning hereof.

5

 

ARTICLE II

SALE AND PURCHASE

     Section 2.1 Sale and Purchase.

     On the terms and conditions of this Agreement, Seller agrees to sell and convey to Buyer, and
Buyer agrees to purchase from Seller, the Net Profits Interest. Such conveyance shall be effective
on and as of the Effective Date.

     Section 2.2 Allocation of Distributions.

     Buyer and Seller covenant and agree that, from and after the Closing, Buyer shall be entitled
to receive all payments under the Net Profits Interest that are made pursuant to the Original
Conveyance relating to any time period, whether before or after the Effective Date, including any
amounts that may be paid after the Closing pursuant to the Original Conveyance that includes
amounts attributable to events or adjustments that occurred prior to the Effective Date, provided,
however, that notwithstanding the foregoing Buyer will make payment, or cause payment to be made,
to the Seller for payments due in respect of July and August 2010 and any “true up” due in respect
of the June 2010 payment in accordance with Section 8.01 of the Original Conveyance on or before
October 31, 2010. In addition, Buyer and Seller covenant and agree that in calculating the amount
of any payments to be made pursuant to the Original Conveyance after the Closing all costs properly
deductible under the Net Profits Interest shall be so deducted whether or not such costs are
attributable to events or adjustments that occurred before or after the Effective Date. Seller
shall be entitled to retain all payments that have been made under the Net Profits Interest prior
to the Closing, as well as payments to be made pursuant to the proviso of the first sentence of
this Section 2.2. Notwithstanding the terms of this Section 2.2, Seller shall retain after Closing
the audit, inspection, complaint and exception rights set forth under Article VII of the Original
Conveyance with respect to periods preceding the Effective Date; provided, however, that such
rights shall cease upon dissolution of the Seller. Notwithstanding anything in this Agreement to
the contrary, Seller intends after the Closing to continue to request that affiliates of Buyer
furnish administration services from time to time upon request in accordance with that certain
Administrative Services Agreement, dated as of December 1, 1992, as amended, by and between the
Seller and The Williams Companies, Inc., and Seller will continue to pay for such services so
furnished after Closing in accordance with the terms of such Administrative Services Agreement.

ARTICLE III

CONSIDERATION AND PAYMENT

     Section 3.1 Consideration and Purchase Price.

     In consideration for and concurrently with the sale and conveyance of the Net Profits Interest
to Buyer, Buyer shall pay the Purchase Price to Seller in accordance with the terms hereof.

     Section 3.2 Payment Instructions.

     At the Closing, Buyer shall wire transfer its portion of the Purchase Price in immediately
available funds to Seller, as directed in writing by Seller prior to the Closing. All amounts due
and owing by Seller to Buyer under this Agreement shall be made by wire transfer of immediately
available funds to Buyer, as directed by Buyer pursuant to the Closing Statement.

6

 

     Section 3.3 Costs and Expenses.

     Buyer shall be responsible for all recording fees for the recording of the Conveyance. Each
of Buyer and Seller shall be responsible for its own costs, fees and expenses (including, without
limitation, legal fees and expenses) in connection with the Transaction Documents and the
transactions related to or contemplated hereby or thereby.

ARTICLE IV

     [Intentionally Omitted].

ARTICLE V

REPRESENTATIONS AND WARRANTIES

     Section 5.1 Representations and Warranties of Seller.

     Seller represents and warrants to Buyer as of the Closing Date as follows:

          (a) Organization and Qualification. Seller is duly formed, validly existing, and in
good standing under the Laws of the State of Delaware and has the requisite legal power to carry on
its business as it is now being conducted. Seller is duly qualified to do business, and is in good
standing, as applicable, in each jurisdiction as necessary to engage in its business and operations
with respect to the Net Profits Interests as now conducted, except for any failure to be so
qualified that would not have a material adverse effect on the value of the Net Profits Interest or
Seller’s ability to consummate the transactions contemplated by this Agreement.

          (b) Authority. Seller has all requisite legal power and authority to execute, deliver
and perform its obligations under this Agreement and each of the other Transaction Documents to
which it is a party. The execution, delivery and performance of this Agreement and each of the
other Transaction Documents to which Seller is a party and the transactions contemplated hereby or
thereby have been duly and validly authorized by all requisite action on the part of Seller.

          (c) Enforceability. This Agreement constitutes, and upon execution and delivery by
Seller of each of the other Transaction Documents to which it is a party, each of such other
Transaction Documents will constitute, a valid and binding agreement of Seller, enforceable in
accordance with its terms, subject to (i) applicable bankruptcy, insolvency, reorganization,
moratorium, and other similar Laws of general application with respect to creditors and (ii)
general principles of equity.

          (d) No Conflict or Violation. Neither the execution and delivery of this Agreement
nor the other Transaction Documents by Seller nor the consummation of the transactions and
performance of the terms and conditions contemplated hereby or thereby by Seller will (i) conflict
with or result in any breach of any provision of the Trust Agreement of Seller; or (ii) conflict in
any material respect with, result in a breach of, constitute a default under or render void or
ineffective — in any way that adversely affects the value of the Net Profits Interest or could
reasonably be expected to adversely affect the transactions contemplated by this

7

 

Agreement or the other Transaction Documents — any contract, agreement, instrument, or
obligation to which Seller is a party.

          (e) Consents. No consent, approval, authorization, or permit of, or filing with or
notification to, any Person which, if not obtained or made, could reasonably be expected to
adversely affect the value of the Net Profits Interest, or could reasonably be expected to
interfere in any material respect with the transactions contemplated by this Agreement or the other
Transaction Documents, is required (i) for or in connection with the execution and delivery of this
Agreement or any other Transaction Document by Seller or for or in connection with the consummation
of the transactions and performance of the terms and conditions contemplated hereby or thereby by
Seller, (ii) in order to prevent any change in terms, termination, cancellation, default, or
acceleration (or any right thereof from arising) under the terms, conditions, or provisions of the
Net Profits Interest as a result of such execution, delivery, consummation, or performance, or
(iii) in order to prevent the creation or imposition of any lien, charge, penalty, restriction,
security interest, or encumbrance on or with respect to the Net Profits Interest as a result of
such execution, delivery, consummation, or performance.

          (f) Preference Rights. Except as disclosed in Schedule 5, to the knowledge of
Seller, the Net Profits Interest is not and will not be subject to, and Seller is not bound by, any
Preference Rights which apply to the conveyance of the Net Profits Interest to Buyer or the
execution, delivery or performance of any of the transactions contemplated by the Transaction
Documents and which, if not waived or satisfied, could reasonably be expected to adversely affect
the value of the Net Profits Interest, or could reasonably be expected to interfere in any material
respect with the transactions contemplated by this Agreement or the other Transaction Documents.

          (g) Actions; Orders. (i) There are no Actions pending or, to the knowledge of Seller,
threatened in writing against Seller or with respect to the Net Profits Interest that could
reasonably be expected to adversely affect the value of the Net Profits Interest, or could
reasonably be expected to interfere in any material respect with the transactions contemplated by
this Agreement or the other Transaction Documents, and (ii) there is no judgment or outstanding
order, injunction, decree, or award rendered by any Governmental Authority, arbitrator or panel of
arbitrators against Seller or the Net Profits Interest that could reasonably be expected to
adversely affect the value of the Net Profits Interest, or could reasonably be expected to
interfere in any material respect with the transactions contemplated by this Agreement or the other
Transaction Documents.

          (h) Compliance With Laws. Except as disclosed in Schedule 5, to the knowledge
of Seller, no material violation or alleged material violation (or of any fact or circumstance
which with notice or the passage of time or both would constitute a violation) of any Law
applicable to the Net Profits Interest exists that could reasonably be expected to adversely affect
the value of the Net Profits Interest.

          (i) Brokerage Fees and Commissions. Neither Seller nor any Affiliate of Seller has
incurred any obligation or entered into any agreement for any investment banking, brokerage, or
finder’s fee or commission in respect of the transactions contemplated by this Agreement or the
other Transaction Documents for which Buyer shall incur any liability.

8

 

          (j) Defensible Title. Except as set forth on Schedule 5, Seller has
Defensible Title to the Net Profits Interest. Except for the Original Conveyance, Seller has not
entered into or granted any royalty, overriding royalty, production payments, mortgage,
encumbrance, lien, security interest or other agreement that, individually or in the aggregate,
would materially impair the use or enjoyment of the Net Profits Interest.

          (k) Taxes. Seller has timely paid all Taxes levied against or with respect to the Net
Profits Interest that are currently due and payable as required by Law.

          (l) Status of Seller. Seller is not a non-resident alien, foreign corporation,
foreign partnership, foreign trust or foreign estate (as those terms are defined or used in the
Code). Seller is not an “investment company” or a company “controlled” by an “investment company”
within the meaning of the Investment Company Act of 1940, as amended, nor is Seller otherwise
subject to regulation under or the restrictions of such act.

          (m) Information True. Except as set forth on Schedule 5, to the knowledge of
Seller, all filings made by Seller under the Securities and Exchange Act of 1934 and all
regulations thereunder, are true and correct in all material respects and do not contain any
material omission or misstatement. Seller has not owned any property or assets other than the Net
Profits Interest or temporary investments of the proceeds thereof as permitted by the Trust
Agreement and has not engaged in any business activities or operations that are unrelated to the
Net Profits Interest or the administration and management of the Seller.

          (n) Bankruptcy. There are no bankruptcy, reorganization, assignment for the benefit
of creditors or arrangement proceedings pending against, being contemplated by, or, to the
knowledge of Seller, threatened against Seller.

          (o) Deductions and Refund Obligations. To the Seller’s knowledge, no basis exists for
any deductions from payments to be made after the Closing (excluding payment to be made to Seller
in respect of July and August 2010 or the “true up” in respect of the June 2010 payment in
accordance with the proviso of the first sentence of Section 2.2) under the terms of the Net
Profits Interest pursuant to Section 7.06 or Section 8.03 of the Original Conveyance.

          (p) No Material Adverse Change. From December 31, 2009 to the Closing Date, there has
not been any material adverse change (other than normal fluctuations in production, fluctuations in
the market prices for Hydrocarbons generally, changes in general economic conditions, or changes
that have otherwise been disclosed to Buyer in Schedule 5 hereto) in the Net Profits
Interest or in the ability of Seller to perform its obligations under the Transaction Documents.

          (q) Solvency. Seller is Solvent and, after consummation of the transactions
contemplated in this Agreement and the other Transaction Documents, will continue to be Solvent.

     Section 5.2 Representations and Warranties of Buyer.

     Buyer represents and warrants to Seller as follows as of the Closing Date:

9

 

          (a) Organization, Power and Authorization. Buyer is a limited liability company duly
organized, validly existing and in good standing under the laws of the state of Delaware. Buyer
has all requisite limited liability company power and authority to execute, deliver and perform its
obligations under this Agreement and each of the other Transaction Documents to which it is a party
and has the requisite limited liability company power to own the Net Profits Interest and carry on
its business as it is now being conducted or as contemplated to be conducted in connection with the
ownership of the Net Profits Interest. The execution, delivery and performance by Buyer of this
Agreement and the other Transaction Documents to which it is a party, and of the transactions
described herein and therein, have been duly and validly authorized by all necessary action on the
part of Buyer.

          (b) Purchase for Own Account. Buyer or its representatives have (and had prior to
negotiations regarding the Net Profits Interest) such knowledge and experience in the ownership of
oil and gas interests and financial and business matters as to be able to evaluate the merits and
risks of an investment in the Net Profits Interest. Buyer is able to bear the risks of an
investment in the Net Profits Interest and understands the risks of, and other considerations
relating to, a purchase of the Net Profits Interest. Buyer understands and acknowledges that: (i)
an investment in the Net Profits Interest involves certain risks and (ii) neither the United States
Securities and Exchange Commission nor any federal, state or foreign agency has passed upon the Net
Profits Interest or made any findings or determination as to the fairness of an investment in the
Net Profits Interest or the accuracy or adequacy of the disclosures made to Buyer. Buyer is
acquiring the Net Profits Interest for its own account and not with any intention to transfer all
or any part of the Net Profits Interest to others in violation of the Securities Act of 1933, as
amended, or any other applicable securities laws.

          (c) Enforceability. This Agreement, and, upon execution and delivery by Buyer of each
of the other Transaction Documents to which Buyer is a party, each such other Transaction Document,
has been duly executed and delivered by Buyer. This Agreement constitutes and, upon execution and
delivery of each of the other Transaction Documents to which Buyer is a party, each of such other
Transaction Documents will constitute the legal, valid and binding obligation of Buyer enforceable
against Buyer in accordance with its terms, subject to (i) applicable bankruptcy, insolvency,
reorganization, moratorium and other similar Laws of general application with respect to creditors’
rights and (ii) general principles of equity.

          (d) Brokerage Fees and Commissions. Neither Buyer nor any Affiliate of Buyer has
incurred any obligation or entered into any agreement for any investment banking, brokerage, or
finder’s fee or commission in respect of the transactions contemplated by this Agreement or the
other Transaction Documents for which Seller shall incur any liability.

ARTICLE VI

CLOSING

     Section 6.1 Closing.

     The Closing shall be held on the Closing Date at 10:00 a.m., Dallas time, at the offices of
Seller’s counsel in Dallas, Texas, or at such other time or place as Seller and Buyer may otherwise
agree. Each of the parties hereto is obligated to the other to proceed to Closing and to

10

 

deliver the documents (and funds, in the case of Buyer) that are described in the remainder of
this Article VI.

     Section 6.2 Seller’s Closing Obligations.

     At Closing, Seller shall execute and deliver, or cause to be executed and delivered, each of
the following to Buyer:

          (a) Officer’s Certificate. A certificate of Seller dated as of the Closing Date,
executed by a duly authorized officer of the trustee of Seller, to the effect that to such
officer’s knowledge, the representations and warranties of Seller contained in this Agreement shall
have been true and correct on and as of the date of this Agreement and as of the Closing Date, and
the covenants and agreements of Seller to be performed on or before the Closing Date in accordance
with this Agreement shall have been duly performed;

          (b) Transaction Documents. The Conveyance executed by Seller and the NPI Amendment
executed by Seller;

          (c) Closing Statement. The closing statement, dated the Closing Date and in a form to
be mutually agreed by Seller and Buyer (“Closing Statement”);

          (d) Legal Opinion. The written opinion, dated the Closing Date and in the form and
substance attached hereto as Exhibit D, of Potter Anderson & Corroon LLP, Delaware counsel
for Seller; and

          (e) Non-Foreign Affidavit. The Affidavit of Non-Foreign Status from Seller,
substantially in the form attached as Exhibit A hereto.

     Section 6.3 Buyer’s Closing Obligations.

     At Closing, Buyer shall deliver, or cause to be delivered the Purchase Price in immediately
available funds to Seller in the manner provided in Section 3.2, and shall execute and
deliver, or cause to be executed and delivered, to Seller the following:

          (a) Transaction Documents. The Conveyance executed by Buyer and the NPI Agreement
executed by Buyer;

          (b) Officer’s Certificate. A certificate of Buyer dated as of the Closing Date,
executed by a duly authorized representative of Buyer, to the effect that to such representative’s
knowledge, the representations and warranties of Buyer, as applicable, contained in this Agreement
shall have been true and correct on and as of the date of this Agreement and as of the Closing
Date, and the covenants and agreements of Buyer, as applicable, to be performed on or before the
Closing Date in accordance with this Agreement shall have been duly performed; and

          (c) Closing Statement. The Closing Statement executed by Buyer.

     Section 6.4 Survival Past Closing.

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     None of the representations and warranties contained in this Agreement shall survive the
Closing; provided that the special warranty of title contained in the Conveyance shall survive the
Closing in accordance with the terms thereof.

ARTICLE VII

MISCELLANEOUS

     Section 7.1 Counterparts.

     This Agreement may be executed in one or more counterparts and by separate parties on separate
counterparts, all of which shall be considered one and the same agreement, and shall become
effective when one or more counterparts have been signed by each of the parties and delivered to
the other party. Such delivery may be made by the physical delivery of executed original
counterparts, by electronic transmission and exchange of executed signature pages hereto, or by any
other means allowed by Law.

     Section 7.2 Governing Law.

     THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW MEXICO.

     Section 7.3 [Intentionally Omitted].

     Section 7.4 Entire Agreement.

     This Agreement and the other Transaction Documents contain the entire agreement among the
parties with respect to the subject matter hereof and thereof, and there are no agreements,
understandings, representations, or warranties among the parties other than those set forth or
referred to herein or therein.

     Section 7.5 Notices.

     All notices and other communications hereunder shall be in writing and shall be deemed
sufficiently given for all purposes hereof if (i) delivered in person, by courier or by registered
or certified United States mail to the Person to be notified, with receipt obtained, or (ii) sent
by telecopy, telefax or other facsimile transmission, with evidence of receipt obtained, in each
case to the appropriate address or number as set forth below (or at such other address or number
for a party as shall be specified by like notice). Each notice shall be deemed effective on
receipt by the addressee as aforesaid; provided that, notice received by telecopy, telefax or other
facsimile transmission after 5:00 p.m. at the location of the addressee of such notice shall be
deemed received on the first business day following the date of such electronic receipt. Until
changed pursuant to the foregoing, notices to the parties shall be addressed as follows:

12

 

Seller: if to Seller, addressed to:

U.S. Trust, Bank of America

Private Wealth Management

901 Main Street, 17th Floor

Dallas Texas 75202

Attn.: Ron E. Hooper

Phone: 214.209.2444

Fax: 214.209.2431

With a copy to:

Thompson & Knight LLP

One Arts Plaza

1722 Routh Street, Suite 1500

Dallas, Texas 75201

Attn: Amy Curtis

Phone: 214.969.1763

Fax: 214.999.1564

Buyer: if to Buyer, addressed to:

Williams Production Company, LLC

One Williams Center, Suite 2600

Tulsa, OK 74172

Attn: Jeffrey Schmuhl

Phone: 918.573.1348

Fax: 918.573.0576

With a copy to:

Williams Production Company, LLC

One Williams Center, Suite 4700

Tulsa, OK 74172

Attn: Assistant General Counsel — Exploration and Production

Phone: 918.573.3556

Fax: 918.573.6928

     Section 7.6 Successors and Assigns; Assignment.

     This Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective heirs, legal representatives, successors and assigns.

     Section 7.7 Amendments and Waivers.

     This Agreement may not be waived, modified or amended except by an instrument or instruments
in writing signed by the party against whom enforcement of any such modification

13

 

or amendment is sought. The waiver by any party hereto of a breach of any term or provision
of this Agreement shall not be construed as a waiver of any subsequent breach.

     Section 7.8 Schedules and Exhibits.

     All Schedules and Exhibits hereto which are referred to herein are hereby made a part hereof
and incorporated herein by such reference. Any item disclosed in Schedule 5 with respect
to a representation by Seller shall be deemed to be disclosure of such item with respect to all
representations by Seller to the extent that its application to the other representations is
reasonably apparent on its face.

     Section 7.9 Agreement for the Parties’ Benefit Only.

     Nothing in this Agreement or the other Transaction Documents is intended to confer upon any
Person, other than the parties hereto or thereto and their respective successors and permitted
assigns and mortgagees, any rights, benefits, remedies or obligations hereunder or thereunder; and
no Person, other than the parties and their respective successors and permitted assigns, is
entitled to rely on any representation, warranty, covenant, or agreement contained herein or in the
other Transaction Documents.

     Section 7.10 Severability.

     If any term or other provision of this Agreement is invalid, illegal, or incapable of being
enforced by any rule of Law or public policy, all other conditions and provisions of this Agreement
shall nevertheless remain in full force and effect so long as the economic or legal substance of
the transactions contemplated hereby is not affected in any adverse manner to any party. Upon such
determination that any term or other provision is invalid, illegal, unenforceable or otherwise in
violation of applicable Law or public policy, the parties hereto shall conduct good faith
negotiations for the purpose of modifying this Agreement and the other Transaction Documents in
order to most nearly effect the original intent of such parties to the end that the transactions
contemplated hereby, including the economic consequences thereof, are fulfilled to the greatest
extent possible.

     Section 7.11 No Retained Liens.

     No lien or encumbrance of whatsoever nature, express or implied, shall be retained by or
created in favor of Seller in or against the Net Profits Interest as security for payment or
performance of the Purchase Price or any other obligations of Buyer; and Seller hereby expressly
waives and releases any such express or implied liens and encumbrances.

     Section 7.12 No Recourse to Officers, Etc.

     EACH PARTY HERETO HEREBY AGREES THAT THE OBLIGATIONS AND LIABILITIES OF BUYER AND SELLER UNDER
THIS AGREEMENT ARE SOLELY THEIR OBLIGATIONS AND LIABILITIES, AND THAT NO EQUITY OWNER, CERTIFICATE
HOLDER, OFFICER, DIRECTOR, MEMBER, PARTNER, TRUSTEE, BENEFICIARY OR HOLDER OF UNITS OF BENEFICIAL
INTEREST, MANAGER,

14

 

EMPLOYEE, AGENT OR AFFILIATE OF BUYER OR OF SELLER SHALL HAVE ANY PERSONAL LIABILITY THEREFOR.

     Section 7.13 Further Cooperation.

     After the Closing, Seller shall take such further actions as Buyer may reasonably request, to
(a) further evidence or effect the conveyance of the Net Profits Interest to Buyer, (b) perfect
Buyer’s title thereto and to accomplish the orderly transfer of the Net Profits Interest to Buyer,
in the manner contemplated by this Agreement and (c) accomplish the transactions contemplated by
this Agreement.

     Section 7.14 Access to Information.

     Seller shall hold all the information, books and records (including all financial records and
statements) relating to the Net Profits Interests existing on the Closing Date and not destroy or
dispose of any such information, books or records for a period of six years from the Closing Date.
After such six-year period, if Seller desires to destroy or dispose of any of such information,
books and records, Seller shall first offer in writing at least ninety (90) days prior to such
destruction or disposal to surrender such information, books and records to Buyer. After the
Closing Date, Seller shall, during normal business hours and upon reasonable advance notice, make
available and provide Buyer and its representatives (including counsel and independent auditors)
with access to all such information, books and records that any Buyer may require with respect to
any reasonable business purpose or in connection with any claim, dispute, action, cause of action,
investigation or proceeding of any kind by or against any Person, and shall cooperate fully with
Buyer and its representatives (including counsel and independent auditors) in connection with the
foregoing.

[The remainder of this page is intentionally left blank.]

15

 

     IN WITNESS WHEREOF, this Agreement has been signed by or on behalf of each of the parties as
of the day first above written.

	 	 	 	 	 
	 	BUYER:

WILLIAMS PRODUCTION COMPANY, LLC,

a Delaware limited liability company

 	 
	 	By:  	/s/ JEFFREY SCHMUHL
 	 
	 	 	Name:  	Jeffrey Schmuhl 	 
	 	 	Title:  	Director 	 
	 

Signature Page to Purchase and Sale Agreement

 

 

	 	 	 	 	 
	 	SELLER:

WILLIAMS COAL SEAM GAS

ROYALTY TRUST

 	 
	 	By:  	BANK OF AMERICA, N.A.,
 acting in the capacity as Trustee
 	 
	 	 	 
	 	By:  	     /s/ RON E. HOOPER
 	 
	 	 	Name:  	Ron E. Hooper 	 
	 	 	Title:  	Senior Vice President 	 
	 

Signature Page to Purchase and Sale Agreement

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