Document:

Transition Services Agreement, dated as of December 30, 2011

 Exhibit 10.4 

 
  

 
 TRANSITION SERVICES AGREEMENT

 between 
 THE WILLIAMS COMPANIES, INC. 
 and 

WPX ENERGY, INC. 
 Dated as of December 30, 2011 
  

 
  

 TABLE OF CONTENTS 

 

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

  
 ii 

 TABLE OF CONTENTS 

(Continued) 
  

							
	 	 	 	  	Page	 
	 ARTICLE VIII TECHNOLOGY AND PROPRIETARY RIGHTS
	  	 	11	  
			
	 Section 8.1
	 	Related Agreements	  	 	11	  
	 Section 8.2
	 	Limited License to Use WMB Work Processes and Software	  	 	12	  
	 Section 8.3
	 	No Implied Licenses	  	 	12	  
	 Section 8.4
	 	Managed WPX Contracts	  	 	12	  
		
	 ARTICLE IX DATA SECURITY
	  	 	12	  
			
	 Section 9.1
	 	Ownership	  	 	12	  
	 Section 9.2
	 	Data Security	  	 	12	  
		
	 ARTICLE X REPRESENTATIONS AND WARRANTIES
	  	 	13	  
			
	 Section 10.1
	 	Service Warranty	  	 	13	  
	 Section 10.2
	 	Disclaimer	  	 	13	  
		
	 ARTICLE XI INSURANCE
	  	 	13	  
			
	 Section 11.1
	 	Coverage	  	 	13	  
	 Section 11.2
	 	Subrogation	  	 	13	  
	 Section 11.3
	 	Certificates of Insurance	  	 	13	  
	 Section 11.4
	 	Risk of Loss	  	 	13	  
		
	 ARTICLE XII TERMINATION
	  	 	14	  
			
	 Section 12.1
	 	Early Termination of the Services	  	 	14	  
	 Section 12.2
	 	WMB’s Right to Terminate for Compliance Issues	  	 	14	  
	 Section 12.3
	 	Survival	  	 	14	  
	 Section 12.4
	 	Effect of Termination	  	 	14	  
		
	 ARTICLE XIII GENERAL PROVISIONS
	  	 	14	  
			
	 Section 13.1
	 	Limitation of Liability; Indemnification	  	 	14	  
	 Section 13.2
	 	Compliance With Laws	  	 	15	  
	 Section 13.3
	 	Further Action	  	 	15	  
	 Section 13.4
	 	Expenses	  	 	15	  
	 Section 13.5
	 	Authorization	  	 	15	  
	 Section 13.6
	 	Assignment	  	 	15	  
	 Section 13.7
	 	Force Majeure	  	 	16	  
	 Section 13.8
	 	Acknowledgment	  	 	16	  
	 Section 13.9
	 	Order of Precedence	  	 	16	  

  
 iii

 TABLE OF CONTENTS 

(Continued) 
  

							
	 	 	 	  	Page	 
	 Section 13.10
	 	References	  	 	16	  
	 Section 13.11
	 	Incorporation of Separation Agreement Provisions	  	 	16	  

  

			
	 Schedule A         Statements of Work (by Functional Service
Area)

		
	 Schedule A-1
	  	Payroll and Human Resources Administration
	 Schedule A-2
	  	Information Technology
	 Schedule A-3
	  	Finance and Accounting, Cash Management and Treasury
	 Schedule A-4
	  	Tax Services
	 Schedule A-5
	  	Enterprise Business Services
	 Schedule A-6
	  	Internal Audit Services
	 Schedule A-7
	  	Corporate Communications and Investor Relations
	 Schedule A-8
	  	Legal, Regulatory, Government Affairs and Records Management
	 Schedule A-9
	  	Real Estate and Facilities Management
	 Schedule A-10
	  	Insurance and Claims Administration
	
	 Schedule B         Managed WPX Contracts

	 Schedule C         Service Management Model

	 Schedule D         List of Supported Facilities

  
 iv 

 TRANSITION SERVICES AGREEMENT 

TRANSITION SERVICES AGREEMENT, dated as of December 30, 2011 (this “Agreement”), by and between The Williams
Companies, Inc., a Delaware corporation (“WMB”), and WPX Energy, Inc., a Delaware corporation (“WPX”). 
 RECITALS 
 A. Pursuant to the Separation and Distribution Agreement, dated
as of the date hereof, by and between WMB and WPX (the “Separation Agreement”), the parties are agreeing to separate the exploration and production business and operations of WMB from the remainder of WMB. 

B. The parties also desire that the WMB Entities provide the WPX Entities with certain services related to the WPX Business described in
this Agreement on and after the Distribution Date, as more fully set forth herein. 
 AGREEMENT 

In consideration of the foregoing and the mutual covenants and agreements herein contained, and intending to be legally bound hereby, the
parties agree as follows: 
 ARTICLE I 
 DEFINITIONS 
 Section 1.1 Table of Definitions. The following terms
have the meanings set forth on the pages referenced below: 
  

					
	 Definition
	  	Page	 
	 Agreement
	  	 	1	  
	 Charges
	  	 	5	  
	 Equipment
	  	 	2	  
	 Force Majeure Event
	  	 	2	  
	 Functional Service Areas
	  	 	2	  
	 Intellectual Property Rights
	  	 	3	  
	 Managed WPX Contracts
	  	 	3	  
	 Pricing
	  	 	5	  
	 Separation Agreement
	  	 	1	  
	 Services
	  	 	3	  
	 Software
	  	 	3	  
	 Subcontractors
	  	 	3	  
	 Systems
	  	 	3	  
	 Term
	  	 	5	  
	 Third Party Consents
	  	 	3	  
	 Transition Service Managers
	  	 	3	  
	 WMB
	  	 	1	  

					
	 WMB Equipment
	  	 	3	  
	 WMB Facilities
	  	 	3	  
	 WMB Personnel
	  	 	3	  
	 WMB Service Manager
	  	 	3	  
	 WMB Software
	  	 	4	  
	 WMB Systems
	  	 	4	  
	 WPX
	  	 	1	  
	 WPX Data
	  	 	4	  
	 WPX Equipment
	  	 	4	  
	 WPX Facilities
	  	 	4	  
	 WPX Personnel
	  	 	4	  
	 WPX Service Manager
	  	 	4	  
	 WPX Software
	  	 	4	  
	 WPX Systems
	  	 	4	  

 Section 1.2 Certain Defined Terms. For the purposes of this Agreement: 

“Equipment” means computer and telecommunications equipment (without regard to the entity owning or
leasing such equipment) including: (a) servers, personal computers, and associated attachments, accessories, peripheral devices, printers, cabling and other equipment; and (b) private branch exchanges, multiplexors, modems, CSUs/DSUs,
hubs, bridges, routers, switches and other telecommunications equipment. 
 “Force Majeure
Event” means any riot, war, public disturbance, strike, lockout, labor dispute, fire explosion, storm, flood, acts of God, major breakdown or failure of transportation, manufacturing, distribution or storage facilities, or any other event
which is not within the control of the party whose performance is interfered with and which by the exercise of reasonable diligence such party is unable to prevent. 

“Functional Service Areas” means the following categories of services, each of which are set forth in
more detail in the following statements of work: Payroll and Human Resources Administration (Schedule A-1), Information Technology (Schedule A-2), Finance and Accounting, Cash Management and Treasury (Schedule A-3), Tax Services (Schedule A-4),
Enterprise Business Services (Schedule A-5), Internal Audit Services (Schedule A-6), Corporate Communications and Investor Relations (Schedule A-7), Legal, Regulatory, Government Affairs and Records Management (Schedule A-8), Real Estate and
Facilities Management (Schedule A-9) and Insurance and Claims Administration (Schedule A-10). 

“Intellectual Property” means (a) patents and pending patent applications; (b) trademarks,
service marks, trade names and trade dress; (c) copyrights, including copyrights in computer Software; (d) confidential and proprietary information, including trade secrets; (e) data base rights; (f) design rights and rights in
designs; (g) rights in domain names; (h) rights in know-how; (i) all other intellectual property rights subsisting now or in the future, anywhere in the world; and (j) registrations, right to register and pending applications for
registration of the foregoing. 

  
 2 

 “Intellectual Property Rights” means any and all common
law, statutory and other Intellectual Property rights honored and/or enforceable under any laws. 

“Managed WPX Contracts” means, collectively, the WPX Entity contracts that are (a) identified on
Schedule B as of the date hereof or (b) subsequently added thereto by agreement of the parties as additional contracts with respect to which WMB will have management responsibility. 

“Pricing” means cost information provided by WMB for each Functional Service Area based on actual monthly
cost allocations for the prior twelve months as set forth in Schedule A. 
 “Services” means the
services provided in the Functional Service Areas pursuant to Schedule A. 
 “Software”
means programs and programming (including the supporting documentation, media, on-line help facilities and tutorials). 
 “Subcontractors” means the WMB Entities’ contractors or other agents that perform a portion of the Services. 

“Systems” means WPX Systems and the WMB Systems or either of them. 

“Third Party Consents” means the consents required from third parties in connection with the WMB
Entities’ provision, and WPX Entities’ receipt, of the Services and/or Managed WPX Contracts. 

“Transition Service Managers” means the WPX Service Manager and the WMB Service Manager. 

“WMB Equipment” means Equipment owned or leased by any WMB Entity or Subcontractor and used in connection
with the Services, but excluding WPX Equipment. 
 “WMB Facilities” means the facilities
maintained by the WMB Entities and the Subcontractors providing Services on behalf of the WMB Entities. 

“WMB Personnel” means those employees, representatives, contractors, subcontractors and agents of the WMB
Entities who perform any Services under this Agreement. 
 “WMB Service Manager” means the
individual appointed by WMB to represent WMB and be primarily responsible for the management of the WMB/WPX relationship under this Agreement. 
 “WMB Software” means all Software programs and programming owned by, or provided under license to, WMB and used to provide the Services (and all modifications, replacements, upgrades,
enhancements, documentation, materials and media relating to the foregoing), but excluding WPX Software. 

  
 3 

 “WMB Systems” means the WMB IT platform used to provide the
Services, plus any other interconnected grouping of WMB Equipment and/or WMB Software used in connection with the Services, and all additions, modifications, substitutions, upgrades or enhancements thereto. 

“WPX Data” means (a) any data or information of the WPX Entities, or their respective vendors or
other business partners, that is provided to or obtained by the WMB Entities solely in the performance of their obligations under this Agreement, including data and information regarding the WPX Business (including without limitation WPX products,
consumer markets, assets and finances) or the WPX Facilities, and (b) any data or information collected or processed in connection with the Services. 
 “WPX Equipment” means all Equipment owned or leased by any WPX Entity and used in connection with the Services, but excluding WMB Equipment. 

“WPX Facilities” means the locations where the WPX Entities will receive Services as set forth on
Schedule D. 
 “WPX Personnel” means the employees, representatives, contractors,
subcontractors and agents of the WPX Entities. 
 “WPX Service Manager” means the individual
appointed by WPX to represent WPX and be primarily responsible for the management of the WMB/WPX relationship under this Agreement. 
 “WPX Software” means all Software owned by, or provided under license to, the WPX Entities and used in connection with the Services (and all modifications, replacements, upgrades,
enhancements, documentation, materials and media relating to the foregoing), but excluding WMB Software. 

“WPX Systems” means an interconnected grouping of WPX Equipment and/or WPX Software used in connection
with the Services, and all additions, modifications, substitutions, upgrades or enhancements thereto. 
 Section 1.3 Other
Capitalized Terms. Capitalized terms not defined in this Agreement shall have the meanings ascribed to them in the Separation Agreement. 

  
 4 

 ARTICLE II 
 TERM 
 Section 2.1 Term. The term of this Agreement will begin on,
and include, the Distribution Date and continue in effect for one year, unless terminated earlier in accordance with the terms of this Agreement (the “Term”). 
 Section 2.2 No Extension of Term. There will be no extension of Services beyond the Term. 
 ARTICLE III 
 SERVICES 

Section 3.1 Performance of Services. 
 (a) Performance. During the Term of this Agreement, WMB shall provide (or shall cause one or more of the WMB Entities to provide) the Services to the WPX Entities. Any Service to be provided under
this Agreement may be provided by WMB directly or through any of the WMB Entities. WMB shall not be relieved of any of its obligations under this Agreement as a result of the provision of Services by any other WMB Entity pursuant to this
Section 3.1(a). 
 (b) Identification of Services Requested and Charges. 

(i) The parties agree to make available appropriate subject matter experts to meet to identify the specific tasks that are
an inherent, necessary, and customary part of the Services for each Functional Service Area. WPX will agree to pay the Pricing plus WMB’s actual expenses (including retention payments payable to WMB Personnel primarily engaged in providing
Services or otherwise agreed by the Parties to be critical to the Parties’ obligations under this Agreement), plus an administrative reimbursement fee of 8.5% of costs and expenses (together, the “Charges”). 

(ii) In the event that the parties fail to agree in writing upon Charges or a description of Services for a Functional
Service Area prior to the Distribution Date, then the WMB Entities may, in the sole discretion of WMB, either (A) be excused from performing any or all of the Services during the Term or (B) provide any or all of the Services in
substantially similar scope, quality and nature as those provided by the WMB Entities as of the date immediately prior to the Distribution Date for the Charges proposed by WMB. 

(c) Subsequent Adjustments. The parties acknowledge that certain items of Equipment or Software or certain
contracts existing as of the date hereof may have been inadvertently omitted from, included in or mischaracterized under, the applicable Schedules. Accordingly, the parties agree that to the extent any such omitted, included or mischaracterized item
is discovered, the discovering party shall promptly notify the other party and the parties shall promptly amend the relevant Schedule. However, if such discovered information (i) could reasonably result in a material increase or material
decrease in the cost of providing Services, (ii) would require any WMB Entity 

  
 5 

 
to retain additional employees or resources, (iii) creates a conflict of interest or other adverse consequence for any WMB Entity, or (iv) becomes impracticable due to reasons outside
the control of WMB, then the WMB Entities will have no obligation to perform such Services, and WMB will have no obligation to amend the relevant Schedule. 
 (d) WPX Input. To the extent a WMB Entity responsibility set forth in a statement of work on Schedule A relies upon input, instructions or policies from any WPX Entity in performing such
Services, the WMB Entities will comply with WPX’s reasonable input, instructions or policies, provided, that until the relevant WPX Entity provides such input, instructions or policies, the WMB Entities may, in the sole discretion of WMB,
either (i) be excused from performing the relevant Services or (ii) provide the relevant Services in accordance with the WMB Entities’ applicable practices as of the date the relevant Services are to be delivered. 

Section 3.2 Independent Contractor Status. 

(a) Each Person (including any employee or agent of the WMB Entities) that provides Services hereunder is an independent
contractor, with all of the attendant rights and liabilities of an independent contractor, and not an agent or employee of any WPX Entity. Any provision in this Agreement, or any action by any WPX Entity, that may appear to give any WPX Entity the
right to direct or control any WMB Entity in performing under this Agreement means that such WMB Entity shall follow the desires of such WPX Entity in results only. Nothing in this Agreement shall be construed to create the relationship of
partnership, principal and agent, joint venture, or fiduciary and beneficiary between or among any WMB Entity, on the one hand, and any WPX Entity, on the other hand. 

(b) Each WMB Entity shall withhold and pay any contribution measured by wages of its employees required by the Federal
Insurance Corporation Act and all other contributions, taxes and other charges required to be withheld or paid pursuant to any state or federal statute and shall accept exclusive liability therefore. 

Section 3.3 Service Standards. Unless otherwise specified in this Agreement (including the Schedules), the Services under this
Agreement will initially be performed in substantially the same scope, quality and nature (including historical usage levels) that such Services were generally performed by the WMB Entities for the WPX Businesses as of the date immediately prior to
the Distribution Date, and thereafter will continue to be performed in substantially the same scope, quality and nature (including usage levels) as WMB generally performs such services for the WMB Businesses, except to the extent such Services
differ because of the need to follow legal corporate formalities and to keep WPX Data separate from WMB data. In no event will any WMB Entity be required to make any customization to the Services (or the WMB Systems or work processes) that are
unique to the WPX Entities, beyond the customizations that WMB elects to make to support the WMB Systems and work processes. To the extent WPX requests Services that exceed the historical usage levels of the WPX Businesses, and WMB agrees in its
sole discretion to provide such Services, the parties will determine pricing as described in Section 3.1(b). The WPX Entities shall comply with the WMB Entities’ applicable work processes, policies and procedures and any applicable
terms and conditions of third party suppliers. 

  
 6 

 Section 3.4 Conflict of Interest. In the event that WMB determines there is a
conflict of interest (other than a conflict of interest described in Section 12.2(b), which shall be governed by that Section) between any WMB Entity and any WPX Entity related to the performance of the Services on an issue that could
reasonably have an adverse impact on any WMB Entity with regard to such entity’s code of business conduct or public relations, or with regard to a Governmental Authority, WMB shall notify WPX of such issue. The parties will then work together,
through the Transition Service Managers, to resolve such issue. If the parties are unable to resolve such issue to their mutual satisfaction within 30 days, the WMB Entities will not be obligated to perform the Services giving rise to the conflict
of interest, and the WPX Entities shall have the right to perform such Services for themselves solely to the extent necessary to avoid the conflict of interest. 
 Section 3.5 WPX’s Obligations. 
 (a) The WPX Entities
shall (i) use the Services in substantially the same manner and for the same purposes (and for no other purpose) as such Services were used by the WPX Entities as of the date immediately prior to the Distribution Date and (ii) endeavor in
good faith to cease using such Services as soon as practicable following the Distribution Date but in any event no later than the termination date set forth for any particular Service in Schedule A. No WPX Entity shall, directly or
indirectly, resell or permit the use of any of the Services to or by any third party. 
 (b) WMB’s failure
to perform its obligations under this Agreement shall be excused if and to the extent such non-performance is caused by (i) the actions or inactions of any WPX Entity or a third party contractor performing obligations on behalf of any WPX
Entity under this Agreement, or (ii) the failure of any WPX Entity or such a third party contractor to perform the WPX Entities’ obligations under this Agreement or otherwise comply with the WMB Entities’ work processes, policies and
procedures and any requirements under the WMB Entities’ third party contracts. WPX shall be responsible for any additional costs incurred by any WMB Entity in connection with providing the Services as a result of (i) or (ii) above.

 Section 3.6 Third Party Consents. 

(a) Responsibility. Each party will be responsible for obtaining the Third Party Consents required under its, and
its Affiliates’, third party contracts pertaining to any Software, Equipment, Systems or other materials or associated services required in connection with the Services under this Agreement. Such responsibility shall include the administrative
activities necessary to obtain the Third Party Consents and payment of the fees and/or expenses associated with obtaining the Third Party Consents. For the avoidance of doubt, WPX will be responsible for the cost of obtaining Third Party Consents
necessary for any Managed WPX Contracts. 

  
 7 

 (b) Contingent Arrangements. If, despite using commercially
reasonable efforts, either party is unable to obtain a Third Party Consent for which it is responsible, the parties will consider such third party contract to be a transfer not effected on or before the Effective Time as described in
Section 2.4 of the Separation Agreement, or may agree that such third party contract will be a Managed WPX Contract. Nothing in this Section 3.6 obligates any WMB Entity to provide any Service to any WPX Entity after the Term.

 Section 3.7 Services Provided by WPX. In the event that WMB determines that it will require services related to the
WMB Business from WPX on or after the Distribution Date, then WMB shall provide WPX with a written notice requesting such services. WPX agrees that, upon delivery of any such notice, it will use commercially reasonable efforts to provide such
services on the same terms and conditions as the Services provided hereunder. 
 ARTICLE IV 

COMPENSATION 
 Section 4.1 Charge for Services. WPX shall pay to WMB the Charges set forth in Section 3.1, and any other charges provided for elsewhere in this Agreement, for the Services in
accordance with the terms set forth in this Agreement. 
 Section 4.2 Taxes. In addition to the other sums payable under
this Agreement, WPX shall pay, and hold each WMB Entity harmless against, all sales, use or other taxes, or other fees or assessments imposed by law in connection with the provision of the Services, other than income, franchise or margin taxes
measured by WMB’s net income or margin and other than any gross receipts or other privilege taxes imposed on WMB. WMB and WPX shall cooperate with each other and use commercially reasonable efforts to assist the other in entering into such
arrangements as the other may reasonably request in order to minimize, to the extent lawful and feasible, the payment or assessment of any taxes relating to the transactions contemplated by this Agreement; provided, however, that nothing in this
Section 4.2 shall obligate WMB to cooperate with, or assist, WPX in any arrangement proposed by WPX that would, in WMB’s sole discretion, have a detrimental effect on any WMB Entity. 

Section 4.3 Invoicing and Payment. WMB will invoice WPX by the 8th Business Day of the month following the month in which Services
were performed; or, for Services priced at an hourly rate, the month following the month in which hours of effort have been reported to WMB. WPX will pay undisputed invoiced amounts (including any undisputed amount of an invoice where only a portion
is in dispute) by the 28th calendar day of the month in which such invoice is received, and any disputed portion of an invoiced amount shall be resolved in accordance with Section 6.1 below. If the 28th calendar day does not fall on a
Business Day, WPX will pay invoiced amounts on the next Business Day. Payments for amounts past due shall bear interest calculated on a per annum basis from the due date to the date of actual payment at a fluctuating interest rate equal at all times
to the prime rate of interest published from time to time in The Wall Street Journal plus 2%, but in no case higher than the maximum rate permitted by law. WPX shall make payments under this Agreement by electronic funds transfer in
accordance with payment instructions provided by WMB from time to time. 

  
 8 

 ARTICLE V 
 WMB SUBCONTRACTORS AND PERSONNEL 
 Section 5.1 Subcontractors. WMB
shall have the right to use Subcontractors to provide, or assist the WMB Entities in the provision of, the Services. WMB will be responsible for the Services performed by itself and the other WMB Entities, and responsible for the Services performed
by Subcontractors to the extent that WMB has contractual remedies pursuant to the applicable subcontractor agreement. In the event any such Subcontractor fails to meet expected levels of quality or timeliness with respect to the Services, WMB will
be WPX’s sole point of contact regarding such Services. 
 Section 5.2 Compliance. WMB shall cause its and the other
WMB Entities’ employees, agents and Subcontractors, while at WPX Facilities, to (a) comply with reasonable personnel, operational, safety and security procedures, policies, rules and regulations applicable to WPX Personnel and the WPX
Facilities provided in advance to WMB from time to time, and (b) comply with reasonable requests of WPX Personnel pertaining to personal and professional conduct. WPX shall have the right to require WMB to remove any employee, agent or
Subcontractor of the WMB Entities from a WPX Facility in an emergency or potential emergency situation arising from any failure to comply with this provision. In any other situation in which any employee, agent or Subcontractor of the WMB fails to
comply with this provision, WMB shall consult with WPX and take appropriate action to remedy such failure, including removal of such employee, agent or Subcontractor from the WPX Facilities. Notwithstanding the foregoing, WMB retains the sole right
to hire and fire its employees, and to manage contractual relationships with its agents and Subcontractors. 
 ARTICLE VI

 TRANSITION SERVICES MANAGEMENT 
 Section 6.1 Transition Services Management Process. Each party will appoint an individual who will serve as its Transition Services Manager, and the names of such appointed individuals shall be set
forth in Schedule C. The parties, including their respective Transition Services Managers, shall conduct meetings and manage interactions in accordance with Schedule C. The Transition Services Managers shall meet as expeditiously
as possible to resolve any dispute hereunder. Any dispute that is not resolved by the Transition Services Managers within 45 days shall be resolved in accordance with the dispute resolution procedures set forth in Article IX of the Separation
Agreement. 
 Section 6.2 Books and Records; Audit. In addition to the rights and obligations of the parties in Article V
of the Separation Agreement, WMB shall keep books of account and other records, in reasonable detail and in accordance with GAAP, consistently applied, for any charges for which WPX is required to reimburse WMB and for any charges which are priced
on an consumption (e.g., hourly) basis pursuant to this Agreement. Such books of account and other records shall be open for WPX’s inspection during normal business hours for 24 months following the end of the calendar year in which the expense
was incurred or the applicable Services were rendered to enable WPX to verify that the charges comply with the terms of this Agreement; provided, however, that any such inspection or 

  
 9 

 
audit may be performed only by an independent third party auditing firm of national standing that has been informed of the confidential nature of such information and that has entered into a
written confidentiality agreement with WMB requiring it to treat such information confidentially. In no event will WPX or such independent auditing firm have access to any information regarding the WMB Entities’ cost of performing the Services.

 Section 6.3 Audit Rights for Intellectual Property. In addition to the rights and obligations of the parties in
Article V of the Separation Agreement, where the WMB Entities have given any one or more of the WPX Entities access to Intellectual Property in connection with the Services, WPX will provide to WMB or, at WMB’s request, to the third party
licensors of such Intellectual Property or an independent auditor, access at reasonable hours to WPX Personnel, WPX Facilities, WPX records and other pertinent information, as WMB or such third party licensor or independent auditor may reasonably
request, to verify that the use of the Intellectual Property meets applicable licensing requirements. If any such audit or inspection results in a discovery that the WPX Entities have failed to comply with any WMB or third party contract limitations
or requirements of which WPX has been given notice, WPX shall be responsible for any costs associated with remedying such failure, including without limitation the purchase of additional licenses. 

ARTICLE VII 

FACILITIES AND SYSTEMS 
 Section 7.1 WPX Facilities. 
 (a) General. Subject to
Section 7.1(b) and Article XII, the WMB Entities will provide the Services to the WPX Entities only at the locations for which such Services are provided as of the date immediately prior to the Distribution Date or, with respect
to any particular Services, such other locations as may be specifically identified in Schedule A. The WPX Entities will provide to the WMB Entities, at the WPX Facilities and at no charge, the space, office furnishings, janitorial service,
telephone service, utilities (including air conditioning) and office-related equipment, supplies, and duplicating services that the WMB Entities may reasonably need to provide the Services. WMB Personnel will have reasonable access to the WPX
Facilities 24 hours a day, 7 days a week; provided, however, that in times of emergency, turnaround or significant maintenance or construction activity, access may be restricted or denied if required in connection with such emergency, turnaround,
maintenance or construction. In such an event, the WMB Entities shall be excused from performing the Services to the extent affected by such restricted access. 
 (b) Relocation. WPX shall promptly notify WMB of any contemplated or planned alteration or relocation of any WPX Facility that could reasonably be expected to impact the Services (including any
impact on any WMB Entity’s cost to perform, timing or ability to perform), and will promptly review such contemplated or planned alteration or relocation with WMB. WPX’s notice to WMB must be sufficiently in advance of any such alteration
or relocation to allow a reasonable amount of time for the parties, but in no event less than 90 days prior to such alteration or relocation, to (i) agree on any changes to the Services that may be required as a result of the alteration or
relocation and the corresponding changes to the Charges, and (ii) prepare for and 

  
 10 

 
implement the agreed upon changes to the Services. WMB’s obligation to proceed with the planning for providing Services to a relocated WPX Facility will depend upon WMB’s confirmation
(in its sole discretion) that it can perform Services for the new location. For the avoidance of doubt, if the parties cannot agree on changes to the Services and Charges as described in this Section 7.1(b), then the WMB Entities shall
not be obligated to provide any (y) new or additional Services, or (z) existing Services to new or additional WPX Facilities. 
 Section 7.2 WMB Facilities and WMB Systems. 
 (a) WMB
Facilities. The WMB Entities may perform the Services in WMB Facilities as WMB reasonably deems appropriate. While at WMB Facilities, WPX Personnel shall comply with the WMB Entities’ reasonable safety and security requirements and other
relevant policies. 
 (b) Access to the WMB Systems. WPX will, and will require that all WPX Personnel who
have access to any WMB Systems to, limit their access to those portions of such systems for which they are authorized in connection with their receipt and use of the Services. WPX will (i) limit such access to those WPX Personnel who are
authorized to use the Services, (ii) upon WMB’s request, provide to WMB a written list of the names of all of the WPX Personnel who have been granted such access, and (iii) adhere to the applicable WMB Entities’ (or any
applicable Subcontractors’) security rules and procedures for use of WMB Systems and other computer or electronic data storage systems. All user identification numbers and passwords disclosed to any WPX Entity to permit WPX Personnel to access
the WMB Systems will be deemed to be, and will be treated as, “Information” for purposes of Article V of the Separation Agreement (relating to Exchange of Information; Confidentiality). WPX will cooperate with WMB in the investigation of
any apparent unauthorized access by WPX Personnel to the WMB Systems. If any WPX Personnel’s access to the WMB Systems and other computer or electronic data storage systems could technically enable such personnel to obtain access to systems or
data which they are not authorized to access, WMB may require such personnel to execute agreements or otherwise confirm their agreement to comply with the limits of their authorization as a condition of their right to obtain such access. 

Section 7.3 Physical Security for Facilities. WMB (or any applicable Subcontractor) will be responsible for all security
procedures at the WMB Facilities. WPX will be responsible for all security procedures at the WPX Facilities. 
 ARTICLE VIII

 TECHNOLOGY AND PROPRIETARY RIGHTS 
 Section 8.1 Related Agreements. 
 (a) Ownership of
Intellectual Property. Except as expressly provided in Section 8.2, nothing in this Agreement shall grant or transfer any rights, title or interests in any Intellectual Property invented or created before or after the Distribution
Date by or on behalf of any WMB Entity or otherwise controlled by or licensed to any WMB Entity. 

  
 11 

 (b) Development of Intellectual Property. Subject to Articles
IX of this Agreement and Article V of the Separation Agreement (relating to Exchange of Information; Confidentiality), as between the parties, all Intellectual Property provided, developed or acquired by or for any WMB Entity in connection with
providing the Services shall be owned by such WMB Entity. 
 Section 8.2 Limited License to Use WMB Work Processes and
Software. WMB grants to WPX a limited, non-exclusive, non-assignable license to use the work processes and Software owned by the WMB Entities that are provided to the WPX Entities in connection with the Services solely to the extent necessary
for the WPX Entities to receive Services and execute its responsibilities under this Agreement. THE WMB ENTITIES’ WORK PROCESSES AND SOFTWARE ARE PROVIDED TO THE WPX ENTITIES ON AN AS-IS BASIS. EACH WMB ENTITY EXPRESSLY DISCLAIMS ANY
REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, AS TO SUCH WORK PROCESSES AND SOFTWARE. 
 Section 8.3 No Implied
Licenses. Except as expressly specified in this Agreement, nothing in this Agreement will be deemed to grant to any WPX Entity, by implication, estoppel or otherwise, license rights, ownership rights or any other Intellectual Property Rights in
any technology, work processes or Software owned by any WMB Entity. However, nothing in this Section 8.3 is intended to alter the terms of any grant of any rights, title or interests in any Intellectual Property from WMB to WPX pursuant
to the Separation Agreement. 
 Section 8.4 Managed WPX Contracts. To the extent there are any Managed WPX Contracts, WMB
will be responsible for: (a) notifying WPX of any performance obligations; (b) communicating directly with the third parties with respect to their performance obligations under such Managed WPX Contracts; and (c) providing WPX timely
notice of any renewal, termination or cancellation dates and charges in respect of such Managed WPX Contracts. 
 ARTICLE IX

 DATA SECURITY 
 Section 9.1 Ownership. As between WPX and WMB, WPX owns and will continue to own all right, title and interest in and to all WPX Data. For the avoidance of doubt, WMB retains ownership of data
pertaining to its performance of the Services, including data pertaining to the volume and quality of the Services. 
 Section
9.2 Data Security. WPX may establish backup security for data and keep backup data files in its possession if it so chooses, but WMB will have access to the backup data files as WMB reasonably needs to provide the Services. 

  
 12 

 ARTICLE X 
 REPRESENTATIONS AND WARRANTIES 
 Section 10.1 Service Warranty. WMB
warrants to WPX that it will use, and will cause the other WMB Entities to use, the same level of care in providing the Services as WMB and the other WMB Entities use for themselves and in no event less than a reasonable level of care. 

Section 10.2 Disclaimer. EXCEPT AS EXPRESSLY SET FORTH IN THIS ARTICLE X, NEITHER THE WMB ENTITIES NOR ANY OF THEIR
RESPECTIVE REPRESENTATIVES MAKE OR HAVE MADE ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AT LAW OR IN EQUITY, IN RESPECT OF THE SERVICES, INCLUDING WITH RESPECT TO (A) MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR USE OR PURPOSE,
(B) THE USE OF THE SERVICE BY ANY WPX ENTITY AFTER THE RECEIPT THEREOF, OR (C) THE PROBABLE SUCCESS OR PROFITABILITY OF ANY WPX BUSINESS AFTER THE RECEIPT OF THE SERVICES. 

ARTICLE XI 

INSURANCE 

Section 11.1 Coverage. At all times during the Term and in addition to the rights and obligations of the parties in Article VII of
the Separation Agreement, both parties shall (or shall cause their respective Affiliates to) procure and maintain, at their own expense and for their own benefit: 

(a) Commercial General Liability insurance with a combined single limit of $1,000,000 each occurrence for bodily injury
and property damage; 
 (b) Comprehensive Automobile Liability insurance covering owned, hired and non-owned
vehicles with minimum limit of $1,000,000 per occurrence for bodily injury and property damage combined; and 

(c) Workers’ Compensation insurance complying with the laws of the states or states having jurisdiction over each
employee and Employer’s Liability insurance with minimum limit of $1,000,000 per occurrence. 
 For the policies described in (a) and
(b) above, and to the extent of the indemnifications herein, each party shall name the other party as an additional insured. The insurance provided to the additional insured party shall be primary. 

Section 11.2 Subrogation. For all policies listed in Section 11.1, and to the extent of the indemnifications herein,
each party will agree to waive all rights of subrogation they may have against the other party. 
 Section 11.3 Certificates
of Insurance. Upon request, each party shall furnish the other with a certificate(s) of insurance evidencing the above coverages. Such insurance may be cancelled or materially altered only after 30 days advance written notice is given to the
other party. 
 Section 11.4 Risk of Loss. Each party shall be responsible for the risk of loss of, or damage to, such
party’s own property when situated on the other party’s site, regardless of cause. The risk of loss of, or damage to, property in transit will remain with the party arranging the shipment. 

  
 13 

 ARTICLE XII 
 TERMINATION 
 Section 12.2 Early Termination of the Services. Except
as specifically provided in a Statement of Work for Services related to PeopleSoft application development and maintenance, either party may, in its sole discretion, terminate any Functional Service Area by providing 60 days prior written notice to
the other party, provided that WPX’s right to terminate Services shall not in any event entitle any WPX Entity or any third party to use the WMB Systems or any Intellectual Property owned or licensed by any WMB Entity and supplied to the WPX
Entities under this Agreement after the termination date, nor shall it entitle any WPX Entity or third party to, or require any WMB Entity to disclose, any of WMB’s Information. The Charges shall be equitably adjusted for any Functional Service
Area terminated under this Section 12.1. 
 Section 12.2 WMB’s Right to Terminate for Compliance Issues.
WMB shall have the right to immediately terminate the provisions of any Services if, and to the extent, WMB determines that it must do so because (a) the provision of such Services would cause WMB to violate applicable law or (b) a change
in WPX’s or any other WPX Entity’s method of doing business creates a conflict of interest for any WMB Entity. 

Section 12.3 Survival. In addition to the rights and obligations of Section 8.2 of the Separation Agreement (which is hereby
incorporated into this Agreement), the parties further agree that upon termination of this Agreement, all rights and obligations of the parties under this Agreement shall cease except for (a) obligations that expressly survive termination of
this Agreement and (b) liabilities and obligations that have accrued prior to such termination, including the obligation to pay any Charges or other amounts accrued, even if such Charges or amounts have not become due and payable prior to
termination. 
 Section 12.4 Effect of Termination. Within 90 days after the termination or expiration of this Agreement,
WMB shall deliver a final invoice to WPX invoicing all amounts accrued for Services and work performed prior to termination that have not already been paid. WPX shall pay such amount to WMB within 30 days of its receipt of such final invoice.

 ARTICLE XIII 
 GENERAL PROVISIONS 
 Section 13.1 Limitation of Liability;
Indemnification. 
 (a) Notwithstanding (i) WMB’s agreement to perform, or cause to be performed,
the Services in accordance with the provisions hereof, or (ii) any term or provision of the Schedules to the contrary, WPX acknowledges that performance by the WMB Entities of the Services pursuant to this Agreement will not subject any WMB
Entity, its Affiliates, or their respective stockholders, directors, officers, members, agents or employees to any Liability whatsoever, except as directly caused by the gross negligence or willful misconduct on the part of such WMB Entity or such
other Persons; provided, however, that WMB’s Liability as a result of such gross 

  
 14 

 
negligence or willful misconduct will be limited to an amount not to exceed the lesser of (A) WPX’s price paid for the particular Service, (B) WPX’s cost of performing the
Service itself during the remainder of the Term or (C) WPX’s cost of obtaining the Service from a third party during the remainder of the Term; provided further that the WPX will (and will cause the other WPX Entities to) exercise its and
their commercially reasonable efforts to minimize the cost of any such alternatives to the Services by selecting the most cost effective alternatives which provide the functional equivalent of the Services replaced. 

(b) Except as specifically set forth in this Agreement, WPX hereby releases, and agrees to indemnify and hold harmless,
each WMB Entity, its Affiliates and their respective stockholders, directors, officers, members, agents or employees from any and all Liabilities arising from or relating to the provision or use of any Service or product provided hereunder to the
extent not directly caused by the gross negligence or willful misconduct of such WMB Entity or such other Persons. 
 Section
13.2 Compliance With Laws. WPX will be solely responsible for (a) compliance with all Laws affecting the WPX Business and (b) any use the WPX Entities may make of the Services to assist it in complying with such Laws. 

 Section 13.3 Further Action. The parties shall use their reasonable best efforts to take, or cause to be taken,
all appropriate action to do, or cause to be done, all things necessary, proper or advisable under applicable law, and to execute and deliver such documents and other papers, as may be required to carry out the provisions of this Agreement and to
consummate and make effective the transactions contemplated by this Agreement.  
 Section 13.4 Expenses. Except
as otherwise specified in this Agreement, all costs and expenses, including fees and disbursements of counsel, financial advisors and accountants, incurred in connection with this Agreement and the transactions contemplated by this Agreement shall
be borne by the party incurring such costs and expenses.  
 Section 13.5 Authorization. WPX appoints the WMB
Entities, their officers, employees and agents, or any of them, as agents for the WPX Entities to take all actions necessary or appropriate to perform the Services. To the extent the parties remain part of a consolidated group as determined by GAAP,
WPX and WMB agree that, in connection with the provision of Services, any officer of WMB is authorized to take any action on behalf of any WPX Entity under the same authorities and limitations that would apply to his or her actions as an officer of
WMB based upon the WMB Delegation of Authority policy or similar document then in force and effect at WMB; WPX shall, and shall cause the other WPX Entities to, execute such other instruments and take such further action as may be required in order
to effectuate the foregoing authorization. WPX expressly waives, on its own behalf and on behalf of the other WPX Entities, any defense of lack of authorization that might asserted against WMB or any third party as to any transaction entered into on
behalf of any WPX Entity by the WMB Entities, or any of their officers, employees or agents under the terms of this Section 13.5. 
 Section 13.6 Assignment. This Agreement may not be assigned by operation of law or otherwise by WPX without the express written consent of WMB (which consent may be granted or withheld in the sole
discretion of WMB), and any attempted assignment without such consent shall be null and void. 

  
 15 

 Section 13.7 Force Majeure. 

(a) If a Force Majeure Event is claimed by either party, the party making such claim shall orally notify the other party
as soon as reasonably possible after the occurrence of such Force Majeure Event and, in addition, shall provide the other party with written notice of such Force Majeure Event within five days after the occurrence of such Force Majeure Event.

 (b) Except for a party’s obligations to make payments hereunder (including, but not limited to, those
obligations under Article IV), neither party will be liable for any nonperformance or delay in performance of the terms of this Agreement when such failure is due to a Force Majeure Event. If either party relies on the occurrence of a Force
Majeure Event as a basis for being excused from performance of its obligations hereunder, such party relying on the Force Majeure Event shall (i) provide an estimate of the expected duration of the Force Majeure Event and its probable impact on
performance of such party’s obligations hereunder and (ii) provide prompt notice to the other party of the cessation of the Force Majeure Event. 
 (c) Upon the occurrence of a Force Majeure Event, the same will, so far as possible, be remedied as expeditiously as possible using commercially reasonable efforts. It is understood and agreed that
nothing in this Section 13.7(c) shall require the settlement of strikes, lockouts or labor disputes by acceding to the demands of any opposing party therein when such course is inadvisable in the discretion of the party having the
difficulty. 
 Section 13.8 Acknowledgment. The parties acknowledge that the terms and conditions of this Agreement have
been the subject of active and complete negotiations, and that this Agreement shall be construed as if drafted jointly by the parties and no presumption or burden of proof shall arise favoring or disfavoring either party by virtue of the authorship
of any provision of this Agreement. 
 Section 13.9 Order of Precedence. In the event of a conflict between Articles
I through XIII of this Agreement and the Schedules hereto, Articles I through XIII of this Agreement shall take precedence over the Schedules. 
 Section 13.10 References. References to any Schedule includes all subparts, schedules, exhibits, attachments, appendices and annexes to such Schedule. For example, a reference to Schedule
A-1 will be deemed to reference any attachments to such Schedule, and references to Schedule A will be deemed to include Schedules A-1 through A-10 and their respective subparts, schedules, exhibits, attachments, appendices
and annexes. 
 Section 13.11 Incorporation of Separation Agreement Provisions. The following provisions of the
Separation Agreement are hereby incorporated herein by reference, and unless otherwise expressly specified herein, such provisions shall apply as if fully set forth herein (references in this Section 13.12 to an “Article” or
“Section” shall mean Articles or Sections of the Separation Agreement, and references in the material incorporated herein by reference shall be references to the Separation Agreement): Article V (relating to Exchange of Information;
Confidentiality), Article VII (relating to Mutual Releases; 

  
 16 

 
Indemnification); and Article X (Miscellaneous) (excluding Sections 10.3 (Expenses) and 10.12 (Assignment)). In the event of any conflict or inconsistency between any of the foregoing
provisions of the Separation Agreement and any provision of this Agreement, this Agreement shall prevail with respect to matters governed by this Agreement. 
 [The remainder of this page is intentionally left blank.] 

  
 17 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their duly
authorized representatives as of the date first set forth above. 
  

			
	THE WILLIAMS COMPANIES, INC.
		
	By:	 	/s/ Alan S. Armstrong
		 	Name: Alan S. Armstrong
		 	Title: Chief Executive Officer

  

			
	WPX ENERGY, INC.
		
	By:	 	/s/ Ralph A. Hill
		 	Name: Ralph A. Hill
		 	Title: Chief Executive Officer

 [Signature Page to Transition Services Agreement]Form of Change in Control Agreement between WPX Energy, Inc.

 Exhibit 10.7 
 WPX ENERGY, INC. 
 FORM
OF CHANGE IN CONTROL SEVERANCE AGREEMENT 
 (CEO) 

 WPX ENERGY, INC. 

CHANGE IN CONTROL SEVERANCE AGREEMENT 

(CEO) 

TABLE OF CONTENTS 

 

							
	 Article I Definitions
	  	 	1	  
	 1.1
	 	Accrued Annual Bonus	  	 	1	  
	 1.2
	 	Accrued Base Salary	  	 	1	  
	 1.3
	 	Accrued Obligations	  	 	2	  
	 1.4
	 	Affiliate	  	 	2	  
	 1.5
	 	Agreement Date	  	 	2	  
	 1.6
	 	Agreement Term	  	 	2	  
	 1.7
	 	Annual Bonus	  	 	2	  
	 1.8
	 	Article	  	 	2	  
	 1.9
	 	Base Salary	  	 	2	  
	 1.10
	 	Beneficial Owner	  	 	2	  
	 1.11
	 	Beneficiary	  	 	3	  
	 1.12
	 	Board	  	 	3	  
	 1.13
	 	Cause	  	 	3	  
	 1.14
	 	Cause Determination	  	 	4	  
	 1.15
	 	Change Date	  	 	4	  
	 1.16
	 	Change in Control	  	 	4	  
	 1.17
	 	Code	  	 	5	  
	 1.18
	 	Competitive Business	  	 	5	  
	 1.19
	 	Confidential Information	  	 	5	  
	 1.20
	 	Consummation Date	  	 	6	  
	 1.21
	 	Disability	  	 	6	  
	 1.22
	 	Disqualifying Disaggregation	  	 	6	  
	 1.23
	 	Employer	  	 	6	  
	 1.24
	 	ERISA	  	 	6	  
	 1.25
	 	Exchange Act	  	 	6	  
	 1.26
	 	Good Reason	  	 	7	  
	 1.27
	 	including	  	 	8	  
	 1.28
	 	IRS	  	 	8	  
	 1.29
	 	Legal and Other Expenses	  	 	8	  
	 1.30
	 	Notice of Consideration	  	 	8	  
	 1.31
	 	Notice of Termination	  	 	8	  
	 1.32
	 	Person	  	 	8	  
	 1.33
	 	Post-Change Period	  	 	8	  
	 1.34
	 	Potential Parachute Payment	  	 	8	  
	 1.35
	 	Pro-rata Annual Bonus	  	 	8	  
	 1.36
	 	Reorganization Transaction	  	 	8	  

  
 i 

							
	 1.37
	 	Restricted Shares	  	 	9	  
	 1.38
	 	SEC	  	 	9	  
	 1.39
	 	Section	  	 	9	  
	 1.40
	 	Separation from Service	  	 	9	  
	 1.41
	 	Stock Options	  	 	9	  
	 1.42
	 	Subsidiary	  	 	9	  
	 1.43
	 	Surviving Corporation	  	 	10	  
	 1.44
	 	Target Annual Bonus	  	 	10	  
	 1.45
	 	Taxes	  	 	10	  
	 1.46
	 	Termination Date	  	 	10	  
	 1.47
	 	Voting Securities	  	 	10	  
	 1.48
	 	Williams	  	 	10	  
	 1.49
	 	Work Product	  	 	10	  
	 1.50
	 	WPX	  	 	11	  
	 1.51
	 	WPX Incumbent Directors	  	 	11	  
	 1.52
	 	WPX NQDC Plan	  	 	11	  
	 1.53
	 	WPX Parties	  	 	11	  
		
	 Article II WPX’s Obligations Upon Separation from Service
	  	 	11	  
			
	 2.1
	 	If By Executive for Good Reason or By an Employer Other Than for Cause, Disability or Disqualifying Disaggregation	  	 	11	  
	 2.2
	 	If by the Employer for Cause	  	 	13	  
	 2.3
	 	If by Executive Other Than for Good Reason	  	 	14	  
	 2.4
	 	If by Death or Disability	  	 	14	  
	 2.5
	 	Waiver and Release	  	 	14	  
	 2.6
	 	Breach of Covenants	  	 	14	  
		
	 Article III Certain Additional Payments by WPX
	  	 	15	  
			
	 3.1
	 	Potential Benefit Adjustments	  	 	15	  
	 3.2
	 	Implementation of Calculations and Any Benefit Reduction Under Section 3.1	  	 	15	  
	 3.3
	 	Potential Subsequent Adjustments	  	 	15	  
		
	 Article IV Expenses and Interest
	  	 	16	  
			
	 4.1
	 	Legal and Other Expenses	  	 	16	  
	 4.2
	 	Interest	  	 	17	  
		
	 Article V No Set-off or Mitigation
	  	 	17	  
			
	 5.1
	 	No Set-off by WPX	  	 	17	  
	 5.2
	 	No Mitigation	  	 	17	  
		
	 Article VI Restrictive Covenants
	  	 	17	  
			
	 6.1
	 	Confidential Information	  	 	17	  
	 6.2
	 	Non-Competition	  	 	18	  
	 6.3
	 	Non-Solicitation	  	 	18	  
	 6.4
	 	Intellectual Property	  	 	19	  

  
 ii 

							
	 6.5
	 	Non-Disparagement	  	 	20	  
	 6.6
	 	Reasonableness of Restrictive Covenants	  	 	21	  
	 6.7
	 	Right to Injunction: Survival of Undertakings	  	 	21	  
		
	 Article VII Non-Exclusivity of Rights
	  	 	22	  
			
	 7.1
	 	Waiver of Certain Other Rights	  	 	22	  
	 7.2
	 	Other Rights	  	 	22	  
	 7.3
	 	No Right to Continued Employment	  	 	22	  
		
	 Article VIII Claims Procedure
	  	 	22	  
			
	 8.1
	 	Filing a Claim	  	 	22	  
	 8.2
	 	Review of Claim Denial	  	 	23	  
		
	 Article IX Miscellaneous
	  	 	23	  
			
	 9.1
	 	No Assignability	  	 	23	  
	 9.2
	 	Successors	  	 	23	  
	 9.3
	 	Payments to Beneficiary	  	 	24	  
	 9.4
	 	Non-Alienation of Benefits	  	 	24	  
	 9.5
	 	Severability	  	 	24	  
	 9.6
	 	Amendments	  	 	24	  
	 9.7
	 	Notices	  	 	24	  
	 9.8
	 	Joint and Several Liability	  	 	25	  
	 9.9
	 	Counterparts	  	 	25	  
	 9.10
	 	Governing Law	  	 	25	  
	 9.11
	 	Captions	  	 	25	  
	 9.12
	 	Rules of Construction	  	 	25	  
	 9.13
	 	Number and Gender	  	 	25	  
	 9.14
	 	Tax Withholding	  	 	25	  
	 9.15
	 	No Rights Prior to Change Date	  	 	26	  
	 9.16
	 	Entire Agreement	  	 	26	  

  
 iii

 WPX ENERGY, INC. 

CHANGE-IN-CONTROL SEVERANCE AGREEMENT 

THIS AGREEMENT dated as of
                                        ,
20       (the “Agreement Date”) is made by and between WPX Energy, Inc., a corporation incorporated under the laws of the State of Delaware (“WPX”, together with its
subsidiaries, affiliates and successors thereto ) and [INSERT EXECUTIVE NAME] (“Executive”). 

RECITALS 

In anticipation of the distribution of the shares of WPX to the shareholders of The Williams Companies, Inc., a corporation incorporated
under the laws of the State of Delaware (“Williams”), the Compensation Committee of the Board of Directors of Williams has determined that it is in the best interests of WPX and its shareholders to encourage and motivate the Executive to
devote his full attention to the performance of his assigned duties without the distraction of concerns regarding his involuntary or constructive termination of employment due to a Change in Control of WPX. The Executive is employed by WPX or a
Subsidiary and may from time to time be employed by one or more Subsidiaries. WPX and its Subsidiaries believe that it is in the best interest of the Executive, their customers, the communities they serve, and the stockholders of WPX to provide
financial assistance through severance payments and other benefits to Executive if Executive is involuntarily or constructively terminated upon or within a certain period after a Change in Control. This Agreement is intended to accomplish these
objectives. 
 This Agreement supersedes and replaces all other written or oral exchanges, agreements, understandings, or
arrangements between or among Executive and Williams, WPX and/or a Subsidiary entered into prior to the date hereof and relating to severance or benefits in relation to a Change in Control, including, but not limited to any prior Change-in-Control
Severance Agreement by and between Williams and the Executive, but excluding any non-qualified deferred compensation plan(s) sponsored by WPX (“WPX NQDC Plan”) and any agreements and plans awarding Stock Options and Restricted
Shares. Each superseded agreement or understanding is void and of no further force and effect.  
 Article I.

 Definitions 
 As used in this Agreement, the terms specified below shall have the following meanings: 
 1.1 “Accrued Annual Bonus” means the amount of any Annual Bonus earned but not yet paid as of the Termination Date, other than amounts Executive has elected to defer. 

1.2 “Accrued Base Salary” means the amount of Executive’s Base Salary that is accrued but not yet paid as of the
Termination Date, other than amounts Executive has elected to defer. 

  
 1 

 1.3 “Accrued Obligations” means, as of the Termination Date, the sum of
Executive’s Accrued Base Salary, Accrued Annual Bonus, any accrued but unpaid Paid Time Off under WPX’s Paid Time Off Program, and any other amounts and benefits which are then due to be paid or provided to Executive by WPX, but have not
yet been paid or provided (as applicable), provided no payments will be accelerated if such acceleration would violate Code Section 409A. 
 1.4 “Affiliate” means any Person (including a Subsidiary) that directly or indirectly, through one or more intermediaries, controls, or is controlled by or is under common control with
WPX. For purposes of this definition the term “control” with respect to any Person means the power to direct or cause the direction of management or policies of such Person, directly or indirectly, whether through the ownership of Voting
Securities, by contract or otherwise. 
 1.5 “Agreement Date” — see the introductory paragraph of this
Agreement. 
 1.6 “Agreement Term” means the period commencing on the Agreement Date and ending on the second
anniversary of the Agreement Date or, if later, such later date to which the Agreement Term is extended under the following sentence, unless earlier terminated as provided herein. The Agreement Term shall automatically be extended by one year on the
first anniversary of the Agreement Date and then each day thereafter by one day to create a new two-year term. The Agreement Term may be terminated at any time (regardless of whether before or after the first anniversary of the Agreement Date), by
WPX delivering written notice (an “Expiration Notice”) to Executive, given in accordance with Section 9.7, that the Agreement shall expire on a date specified in the Expiration Notice (the “Expiration Date”)
that is not less than 12 months after the date the Expiration Notice is delivered to Executive; provided, however, that if a Change Date occurs before the Expiration Date specified in the Expiration Notice, then such Expiration Notice shall be void
and of no further effect. Notwithstanding anything herein to the contrary, with respect to a Post-Change Period, the Agreement Term shall end at the end of the Severance Period (as defined in Section 2.1(c)) if applicable, or if there is no
such Severance Period, the earliest of the following: (a) the second anniversary of the Change Date, or (b) the Termination Date; provided that (i) the obligations, if any, of WPX to make payments under this Agreement due to a
Separation from Service which occurred during the Agreement Term shall continue beyond the Agreement Term until all such obligations are fully satisfied, and (ii) the obligations of Executive under this Agreement shall continue beyond the
Agreement Term until all such obligations are fully satisfied. Notwithstanding anything herein to the contrary, the Agreement shall automatically terminate upon the occurrence of a Disqualifying Disaggregation pursuant to Section 1.22(a).

 1.7 “Annual Bonus” means the opportunity to receive payment of a cash annual incentive. 

1.8 “Article” means an article of this Agreement. 

1.9 “Base Salary” means annual base salary in effect on the Termination Date, disregarding any reduction that would
qualify as Good Reason. 
 1.10 “Beneficial Owner” means such term as defined in Rule 13d-3 of the SEC under
the Exchange Act. 

  
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 1.11 “Beneficiary” — see Section 9.3. 

1.12 “Board” means the Board of Directors of WPX or, from and after the Change Date that gives rise to a Surviving
Corporation other than WPX, the Board of Directors of such Surviving Corporation. 
 1.13 “Cause” means any one
or more of the following: 
 (a) Executive’s conviction of or plea of nolo contendere to a felony or other
crime involving fraud, dishonesty or moral turpitude; 
 (b) Executive’s willful or reckless material
misconduct in the performance of his duties which results in an adverse effect on WPX, the Subsidiary or an Affiliate; 
 (c) Executive’s willful or reckless violation or disregard of the code of business conduct; 
 (d) Executive’s material willful or reckless violation or disregard of a WPX or Subsidiary policy; or 
 (e) Executive’s habitual or gross neglect of duties; 
 provided, however, that for purposes
of clauses (b) and (e), Cause shall not include any one or more of the following: 
 (i) bad judgment or
negligence, other than Executive’s habitual neglect of duties or gross negligence; 
 (ii) any act or
omission believed by Executive in good faith, after reasonable investigation, to have been in or not opposed to the interest of WPX, the Subsidiary or an Affiliate (without intent of Executive to gain, directly or indirectly, a profit to which
Executive was not legally entitled); 
 (iii) any act or omission with respect to which a determination could
properly have been made by the Board that Executive had satisfied the applicable standard of conduct for indemnification or reimbursement under WPX’s by-laws, any applicable indemnification agreement, or applicable law, in each case as in
effect at the time of such act or omission; or 
 (iv) during a Post-Change Period, failure to meet performance
goals, objectives or measures following good faith efforts to meet such goals, objectives or measures; and 
 further provided that, for
purposes of clauses (b) through (e) if an act, or a failure to act, which was done, or omitted to be done, by Executive in good faith and with a reasonable belief, after reasonable investigation, that Executive’s act, or failure to
act, was in the best interests of WPX, the Subsidiary or an Affiliate or was required by applicable law or administrative regulation, such breach shall not constitute Cause if, within 10 business days after Executive is given written

  
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notice of such breach that specifically refers to this Section, Executive cures such breach to the fullest extent that it is curable. With respect to the above definition of “cause”, no
act or conduct by Executive will constitute “cause” if Executive acted: (i) in accordance with the instructions or advice of counsel representing WPX or there was a conflict such that Executive could not consult with counsel
representing WPX other qualified counsel, or (ii) as required by legal process. 
 1.14 “Cause
Determination” —see Section 2.2(b)(iv) 
 1.15 “Change Date” means the date on which a
Change in Control first occurs during the Agreement Term. 
 1.16 “Change in Control” means, except as
otherwise provided below, the occurrence of any one or more of the following during the Agreement Term: 
 (a)
any person (as such term is used in Rule 13d-5 of the SEC under the Exchange Act) or group (as such term is defined in Sections 3(a)(9) and 13(d)(3) of the Exchange Act), other than an Affiliate of WPX or any employee benefit plan (or any related
trust) sponsored or maintained by WPX or any of its Affiliates (a “Related Party”), becomes the Beneficial Owner of 20% or more of the common stock of WPX or of Voting Securities representing 20% or more of the combined voting power
of all Voting Securities of WPX, except that no Change in Control shall be deemed to have occurred solely by reason of such beneficial ownership by a Person (a “Similarly Owned Company”) with respect to which both more than 75% of
the common stock of such Person and Voting Securities representing more than 75% of the combined voting power of the Voting Securities of such Person are then owned, directly or indirectly, by the persons who were the direct or indirect owners of
the common stock and Voting Securities of WPX immediately before such acquisition, in substantially the same proportions as their ownership, immediately before such acquisition, of the common stock and Voting Securities of WPX, as the case may be;
or 
 (b) WPX Incumbent Directors (determined using the Agreement Date as the baseline date) cease for any reason
to constitute at least a majority of the directors of WPX then serving; or 
 (c) consummation of a merger,
reorganization, recapitalization, consolidation, or similar transaction (any of the foregoing, a “Reorganization Transaction”), other than a Reorganization Transaction that results in the Persons who were the direct or indirect
owners of the outstanding common stock and Voting Securities of WPX immediately before such Reorganization Transaction becoming, immediately after the consummation of such Reorganization Transaction, the direct or indirect owners, of both at least
65% of the then-outstanding common stock of the Surviving Corporation and Voting Securities representing at least 65% of the combined voting power of the then-outstanding Voting Securities of the Surviving Corporation, in substantially the same
respective proportions as such Persons’ ownership of the common stock and Voting Securities of WPX immediately before such Reorganization Transaction; or 

  
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 (d) approval by the stockholders of WPX of a plan or agreement for the sale
or other disposition of all or substantially all of the consolidated assets of WPX or a plan of complete liquidation of WPX, other than any such transaction that would result in (i) a Related Party owning or acquiring more than 50% of the
assets owned by WPX immediately prior to the transaction or (ii) the Persons who were the direct or indirect owners of the outstanding common stock and Voting Securities of WPX immediately before such transaction becoming, immediately after the
consummation of such transaction, the direct or indirect owners, of more than 50% of the assets owned by WPX immediately prior to the transaction. 
 Notwithstanding the occurrence of any of the foregoing events, a Change in Control shall not occur with respect to Executive if, in advance of such event, Executive agrees in writing that such event shall
not constitute a Change in Control. Upon the Board’s determination that a sale or other disposition of all or substantially all of the consolidated assets of WPX or a plan of complete liquidation of WPX that was approved by stockholders, as
described in Section 1.16(d), will not occur, a Change in Control shall be deemed not to have occurred from such date of determination forward, and this Agreement shall continue in effect as if no Change in Control had occurred except to the
extent termination requiring payments under this Agreement occurs prior to such Board determination. 
 1.17
“Code” means the Internal Revenue Code of 1986, as amended. 
 1.18 “Competitive Business”
means, as of any date, any energy business and any individual or entity (and any branch, office, or operation thereof) which engages in, or proposes to engage in (with Executive’s assistance) any of the following in which the Executive has been
engaged in the twelve (12) months preceding the Termination Date (i) the harnessing, production, transmission, distribution, marketing or sale of oil, gas or other energy product or the transmission or distribution thereof through
pipelines, wire or cable or similar medium (ii) any other business actively engaged in by WPX which represents for any calendar year or is projected by WPX (as reflected in a business plan adopted by WPX before Executive’s Termination
Date) to yield during any year during the first three-fiscal year period commencing on or after Executive’s Termination Date, more than 5% of the gross revenue of WPX, and, in either case, which is located (x) anywhere in the United
States, or (y) anywhere outside of the United States where WPX is then engaged in, or proposes as of the Termination Date to engage in to the knowledge of the Executive, any of such activities. 

1.19 “Confidential Information” means any non-public information of any kind or nature in the possession of WPX or any
of its Affiliates, including without limitation, ideas, processes, methods, designs, innovations, devices, inventions, discoveries, know-how, data, techniques, models, customer lists, marketing, business or strategic plans, financial information,
research and development information, trade secrets or other subject matter relating to WPX’s or its Affiliates’ products, services, businesses, operations, employees, customers or suppliers, whether in tangible or intangible form,
including (i) any information that gives WPX or any of its Affiliates a competitive advantage in the harnessing, production, transmission, distribution, marketing or sale of oil, gas or other energy or the transmission or distribution thereof
through pipelines, wire or cable or similar medium or in the energy services or energy trading industry and other businesses in which WPX or an Affiliate is engaged, or (ii) any information obtained

  
 5 

 
by WPX or any of its Affiliates from third parties to which WPX or an Affiliate owes a duty of confidentiality, or (iii) any information that was learned, discovered, developed, conceived,
originated or prepared during or as a result of Executive’s performance of any services on behalf of WPX or any Affiliate. Notwithstanding the foregoing, “Confidential Information” shall not include: (i) information that is or
becomes generally known to the public through no fault of Executive; (ii) information obtained on a non-confidential basis from a third party other than WPX or any Affiliate, which third party disclosed such information without breaching any
legal, contractual or fiduciary obligation; or (iii) information approved for release by written authorization of WPX. 

1.20 “Consummation Date” means the date on which a Reorganization transaction is consummated. 

1.21 “Disability” means any medically determinable physical or mental impairment of Executive where he or she
(a) is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than
twelve (12) months, or (b) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months,
receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees of Executive’s employer. Notwithstanding the forgoing, all determinations of whether an Executive is
Disabled shall be made in accordance with Section 409A of the Code. 
 1.22 “Disqualifying Disaggregation”
means 
 (a) The cessation of Executive’s employment with WPX and/or its Affiliates prior to the Change Date
for any reason, including but not limited to a cessation of employment with WPX and/or its Affiliates which is effected by a sale, spin-off, or other disaggregation (“Disaggregation”) by WPX or an Affiliate of the business unit (including,
but not limited to, a sale, spin-off or other disaggregation of a Subsidiary) which employed Executive immediately prior to such Disaggregation; or 
 (b) The cessation of Executive’s employment with WPX and/or its Affiliates during the Post-Change Period due to a Disaggregation solely where Executive is employed by the successor in substantially
the same position as the position held prior to the Disaggregation, provided the successor assumes all of WPX’s obligations under this Agreement. 
 1.23 “Employer” means WPX or, if Executive is not employed directly by WPX, the Subsidiary that from time to time employs Executive on or after the Agreement Date, and the successor of
either (provided, in the case of a Subsidiary, that such successor is also a Subsidiary). 
 1.24 “ERISA” means
the Employee Retirement Income security Act of 1974, as amended. 
 1.25 “Exchange Act” means the Securities
Exchange Act of 1934, as amended. 

  
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 1.26 “Good Reason” means a Separation from Service by Executive in
accordance with the substantive and procedural provisions of this Section. 
 (a) Separation from Service by
Executive for “Good Reason” means a Separation from Service initiated by Executive on account of any one or more of the following actions or omissions that, unless otherwise specified, occurs during a Post-Change Period: 

(i) a material adverse reduction in the nature or scope of Executive’s office, position, duties, functions,
responsibilities or authority (including reporting responsibilities and authority) during a Post-Change Period from the most significant of those held, exercised and assigned at any time during the 90-day period immediately before the Change Date;

 (ii) any reduction in or failure to pay Executive’s annual Base Salary at an annual rate not less than 12
times the highest monthly base salary paid or payable to Executive by his Employer in respect of the 12-month period immediately before the Change Date; 
 (iii) any reduction in the Target Annual Bonus which Executive may earn determined as of the Change Date or failure to pay Executive’s Annual Bonus on terms substantially equivalent to those provided
to peer executives of the Employer; 
 (iv) a material reduction of Executive’s aggregate compensation
and/or aggregate benefits from the amounts and/or levels in effect on the Change Date, unless such reduction is part of a policy applicable to peer executives of the Employer and of any successor entity; 

(v) required relocation during a Post-Change Period of more than 50 miles of (A) Executive’s workplace, or
(B) the principal offices of the Employer or its successor (if such offices are Executive’s workplace), in each case without the consent of Executive; provided, however, in both cases of (A) and (B) of this subsection (v), such
new location is farther from Executive’s residence than the prior location; 
 (vi) the failure at any time
of a successor to Executive’s Employer explicitly to assume and agree to be bound by this Agreement; or 

(vii) the giving of a Notice of Consideration pursuant to Section 2.2(b)(ii) and the subsequent failure to terminate
Executive for Cause and within a period of 90 days thereafter in compliance with all of the substantive and procedural requirements of Section 2.2. 

  
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 (b) Notwithstanding anything in this Agreement to the contrary, no act or
omission shall constitute grounds for “Good Reason”: 
 (i) Unless Executive gives a Notice of
Termination to WPX and the Employer 30 days prior to his intent to terminate his employment for Good Reason which describes the alleged act or omission giving rise to Good Reason; and 

(ii) Unless such Notice of Termination is given within 90 days of Executive’s first actual knowledge of such act or
omission; and 
 (iii) Unless WPX or the Employer fails to cure such act or omission within the 30 day period
after receiving the Notice of Termination. 
 (c) No act or omission shall constitute grounds for “Good
Reason”, if Executive has consented in writing to such act or omission in a document that makes specific reference to this Section. 
 1.27 “including” means including without limitation. 
 1.28
“IRS” means the Internal Revenue Service of the United States of America. 
 1.29 “Legal and Other
Expenses” — see Section 4.1. 
 1.30 “Notice of Consideration” — see
Section 2.2(b)(ii). 
 1.31 “Notice of Termination” means a written notice of a Separation from Service,
if applicable, given in accordance with Section 9.7 that sets forth (a) the specific termination provision in this Agreement relied on by the party giving such notice, (b) in reasonable detail the specific facts and circumstances
claimed to provide a basis for such Separation from Service, and (c) if the Termination Date is other than the date of receipt of such Notice of Termination, the Termination Date. 

1.32 “Person” means any individual, sole proprietorship, partnership, joint venture, limited liability company, trust,
unincorporated organization, association, corporation, institution, public benefit corporation, entity or government instrumentality, division, agency, body or department. 
 1.33 “Post-Change Period” means the period commencing on the Change Date and ending on the earlier of the Termination Date or the second anniversary of the Change Date. 

1.34 “Potential Parachute Payment” – see Section 3.1. 

1.35 “Pro-rata Annual Bonus” means, in respect of an Employer’s fiscal year during which the Termination Date
occurs, an amount equal to the product of Executive’s Target Annual Bonus (determined as of the Termination Date) multiplied by a fraction, the numerator of which equals the number of days from and including the first day of such fiscal year
through and including the Termination Date, and the denominator of which equals 365. 
 1.36 “Reorganization
Transaction” — see clause (c) of the definition of “Change in Control”. 

  
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 1.37 “Restricted Shares” means shares of restricted stock, restricted
stock units, deferred stock or similar awards. 
 1.38 “SEC” means the United States Securities and Exchange
Commission. 
 1.39 “Section” means, unless the context otherwise requires, a section of this Agreement.

 1.40 “Separation from Service” means an Executive’s termination or deemed termination from employment
with WPX and its Subsidiaries. For purposes of determining whether a Separation from Service has occurred, the employment relationship is treated as continuing intact while the Executive is on military leave, sick leave or other bona fide leave of
absence if the period of such leave does not exceed six (6) months, or if longer, so long as the Executive retains a right to reemployment with his or her employer under an applicable statute or by contract. For this purpose, a leave of absence
constitutes a bona fide leave of absence only if there is a reasonable expectation that the Executive will return to perform services for his or her employer. If the period of leave exceeds six (6) months and the Executive does not retain a
right to reemployment under an applicable statute or by contract, the employment relationship will be deemed to terminate on the first date immediately following such six (6) month period. Notwithstanding the foregoing, if a leave of absence is
due to any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than six (6) months, and such impairment causes the Executive to be unable to
perform the duties of the Executive’s position of employment or any substantially similar position of employment, a twenty-nine (29) month period of absence shall be substituted for such six (6) month period. For purposes of this
Agreement, a Separation from Service occurs at the date as of which the facts and circumstances indicate either that, after such date: (A) the Executive and WPX reasonably anticipate the Executive will perform no further services for WPX and
its Subsidiaries (whether as an employee or an independent contractor or (B) that the level of bona fide services the Executive will perform for WPX and its Affiliates (whether as an employee or independent contractor) will permanently decrease
to no more than twenty (20%) of the average level of bona fide services performed over the immediately preceding thirty-six (36) month period or, if the Executive has been providing services to WPX and its Subsidiaries for less than
thirty-six (36) months, the full period over which the Executive has rendered services, whether as an employee or independent contractor. The determination of whether a Separation from Service has occurred shall be governed by the provisions of
Treasury Regulation § 1.409A-1, as amended, taking into account the objective facts and circumstances with respect to the level of bona fide services performed by the Executive after a certain date. 

1.41 “Stock Options” means stock options, stock appreciation rights or similar awards. 

1.42 “Subsidiary” means a corporation, trade or business, if it and WPX Energy, Inc. are members of a controlled group
of corporations as defined in Code Section 414(b) or under common control as defined under Code Section 414(c); the standard of control under Code Sections 414(b) and 414(c) shall be deemed to be “at least 80%” and all
determinations shall be made in accordance with Code Section 409A and the applicable guidance thereunder. 

  
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 1.43 “Surviving Corporation” means the parent corporation resulting from a
Reorganization Transaction or, if securities representing at least 50% of the aggregate voting power of all Voting Securities of a corporation effected by a Change in Control which is not a Reorganization Transaction are directly or indirectly owned
by another corporation, such other corporation. 
 1.44 “Target Annual Bonus” means, as of any date, the amount
equal to the product of Executive’s Base Salary determined as of such date multiplied by the percentage of such Base Salary to which Executive would have been entitled immediately prior to such date under any Annual Bonus arrangement for the
fiscal year for which the Annual Bonus is awarded if the performance goals established pursuant to such Annual Bonus were achieved at the 100% level as of the end of the fiscal year; provided, however, that if Executive’s Annual Bonus is
discretionary and no 100% target level is formally established either under the Annual Bonus arrangement or otherwise, Executive’s “Target Annual Bonus” shall mean the amount equal to the 100% of Executive’s Base Salary.

 1.45 “Taxes” means federal, state, local and other income, employment and other taxes. 

1.46 “Termination Date” means the date of the receipt of the Notice of Termination by Executive (if such notice is given
by Executive’s Employer) or by Executive’s Employer (if such notice is given by Executive), or any later date, not more than 30 days after the giving of such notice, specified in such notice; provided, however, that: 

(a) Executive’s employment is terminated by reason of death or Disability, the Termination Date shall be the date of
Executive’s death or the date of deemed termination of employment due to Disability, as applicable, regardless of whether a Notice of Termination has been given; and 

(b) if no Notice of Termination is given, the Termination Date shall be the last date on which Executive is employed by an
Employer; and 
 (c) for purposes of Article VI (Restrictive Covenants) if the Executive does not have a
Separation from Service, the Termination Date shall be the later of the date the entity that employs Executive ceases to be a Subsidiary, or, after a Disaggregation (as defined in Section 1.22), the date Executive’s employment with the
successor business unit terminates, whether such termination is initiated by such successor or by Executive. 
 1.47
“Voting Securities” of a corporation means securities of such corporation that are entitled to vote generally in the election of directors of such corporation. 

1.48 “Williams” — see the first paragraph of the Recitals of this Agreement. 

1.49 “Work Product” means any and all work product, including, but not limited to, documentation, tools, templates,
processes, procedures, discoveries, inventions, innovations, technical data, concepts, know-how, methodologies, methods, drawings, prototypes, trade secrets, notebooks, reports, findings, business plans, recommendations and memoranda of every
description, that Executive makes, conceives, discovers or develops alone or with others during the course of Executive’s employment with WPX or during the one year period following Executive’s Termination Date (whether or not protectable
upon application by copyright, patent, trademark, trade secret or other proprietary rights). 

  
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 1.50 “WPX” — see the introductory paragraph of this Agreement.

 1.51 “WPX Incumbent Directors” means, determined as of any date by reference to any baseline date:

 (a) the members of the Board on the date of such determination who have been members of the Board since such
baseline date, and 
 (b) the members of the Board on the date of such determination who were appointed or
elected after such baseline date and whose election, or nomination for election by stockholders of WPX or the Surviving Corporation, as applicable, was approved by a vote or written consent of two-thirds of the directors comprising the WPX Incumbent
Directors on the date of such vote or written consent, but excluding each such member whose initial assumption of office was in connection with (i) an actual or threatened election contest, including a consent solicitation, relating to the
election or removal of one or more members of the Board, (ii) a “tender offer” (as such term is used in Section 14(d) of the Exchange Act), or (iii) a proposed Reorganization Transaction. 

1.52 “WPX NQDC Plan” – see the second paragraph of the Recitals of this Agreement. 

1.53 “WPX Parties” means WPX and Executive’s Employer. 

Article II. 
 WPX’s Obligations Upon Separation from Service 
 2.1 If By
Executive for Good Reason or By an Employer Other Than for Cause, Disability, Death or Disqualifying Disaggregation. If Executive has a Separation from Service for Good Reason or there is an Employer-initiated Separation from Service of the
Executive for any reason other than Cause, Disability, Death or a Disqualifying Disaggregation during the Post-Change Period, then in addition to payment of all Accrued Obligations, which shall be payable no later than ten (10) business days
after the Termination Date, WPX’s and the Employer’s sole obligations to Executive under this Article II shall be as follows: 
 (a) Severance Payments. Executive shall be paid a lump-sum cash amount equal to the sum of the following, on the first business day following six (6) months after Executive’s Separation
from Service: 
 (i) Prorated Annual Bonus for Year of Termination. Executive’s Pro-rata Annual Bonus
reduced (but not below zero) by the amount of any Annual Bonus paid to Executive with respect to the Employer’s fiscal year during which the Termination Date occurs; 

  
 11 

 (ii) Multiple of Salary and Bonus. An amount equal to three
(3) times the sum of (A) Base Salary plus (B) the Target Annual Bonus, each determined as of the Termination Date; provided, however, that any reduction in Executive’s Base Salary or Target Annual Bonus that would qualify as Good
Reason shall be disregarded for this purpose. 
 (b) Stock Incentive Awards. To the extent provided in the
applicable award agreements and the applicable plan, all of Executive’s Stock Options then outstanding shall immediately become fully vested and remain exercisable until the 18-month anniversary of the Termination Date (or such later date as
may be set forth in the applicable award agreement, including, but not limited to, a later exercise date under an award agreement if Executive has met the age and service requirements for retirement) or, if earlier, the option expiration date for
any such Stock Option. All of Executive’s Restricted Shares then outstanding shall only vest and payout in accordance with the applicable award agreements for such Restricted Shares. 

(c) Continuation of Welfare Benefits. During the lesser of the period during which Executive or a qualifying
beneficiary (as defined in Section 607 of the Employee Retirement Income Security Act of 1974, as amended) has in effect an election for post-termination continuation coverage or conversion rights to welfare benefits under applicable law,
including Section 4980 of the Code (“COBRA”), or the period ending on the 18-month anniversary of the Termination Date (“Severance Period”), Executive (or, if applicable, the qualifying beneficiary) shall be entitled to such
coverage at an out-of-pocket premium cost that does not exceed the out-of-pocket premium cost applicable to similarly situated active employees (and their eligible dependents); provided, however, that if Executive is eligible to retiree benefits
provided under any welfare benefit plan, program, policy, practice or procedure of the WPX Parties, Executive shall be entitled to receive such retiree benefits in lieu of the COBRA coverage provided by this Section 2.1(c). 

(d) Outplacement. Executive shall be reimbursed for reasonable fees and costs for outplacement services incurred by
Executive within six (6) months after the Separation from Service, promptly upon presentation of reasonable documentation of such fees and costs, subject to a maximum of $25,000. All requests of Executive for reimbursement must be submitted to
WPX within one (1) year of Separation from Service and WPX shall make the reimbursement of reasonable requests no later than thirty (30) days after such request, but in all events within fifteen (15) months of Separation from Service.

 (e) Indemnification. Executive shall be indemnified and held harmless by WPX and the Employer on the
same terms as other peer executives and to the greatest extent permitted under applicable law as the same now exists or may hereafter be amended and the Employer’s and WPX’s by-laws as such exist on the Agreement Date, or such greater
rights that may be provided by amendment to such by-laws from time to time, if Executive was, is, or is threatened to be, made a party to any pending, completed or threatened action, suit, arbitration, alternate dispute resolution mechanism,
investigation, administrative hearing or any other proceeding whether civil, criminal, administrative or investigative, and whether formal or informal, by reason of the fact that Executive is or was, or had agreed to become, a director, officer,
employee, agent or 

  
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fiduciary of the Employer or any other entity which Executive is or was serving at the request of the Employer or WPX (“Proceeding”), against all expenses (including reasonable
attorneys’ fees) and all claims, damages, liabilities and losses incurred or suffered by Executive or to which Executive may become subject for any reason, and (ii) shall be entitled to advancement of any such indemnifiable expenses in
accordance with the Employer’s and WPX’s by-laws as such exist on the Agreement Date, or such greater rights that may be provided by amendment to such by-laws from time to time. A Proceeding shall not include any proceeding to the extent
it concerns or relates to a matter described in Section 4.1 (concerning reimbursement of certain costs and expenses). 
 (f) Directors’ and Officers’ Liability Insurance. For a period of six years after the Termination Date (or for any known longer applicable statute of limitations period), the Executive
shall be entitled to coverage under a directors’ and officers’ liability insurance policy in an amount no less than, and on the same terms as those provided to peer executive officers and directors of the Employer. 

2.2 If by the Employer for Cause. 
 (a) Termination for Cause. If the Executive has a Separation from Service for Cause during the Post-Change Period, the WPX Parties’ sole obligation to Executive under this Article II shall be
to pay Executive a lump-sum cash amount equal to all Accrued Obligations determined as of the Termination Date. 

(b) Change in Control: Procedural Requirements for Termination for Cause. For any Separation from Service for Cause
during any part of a Post-Change Period, the WPX Parties shall strictly observe each of the following substantive and procedural provisions: 
 (i) The Board shall call a meeting for the stated purpose of determining whether Executive’s acts or omissions satisfy the requirements of the definition of “Cause” and, if so, whether to
terminate Executive’s employment for Cause. 
 (ii) Not less than 15 days prior to the date of such meeting,
the Board shall provide or cause to be provided Executive and each member of the Board written notice (a “Notice of Consideration”) of (A) a detailed description of the acts or omissions alleged to constitute Cause,
(B) the date of such meeting of the Board, and (C) Executive’s rights under clauses (iii) and (iv) below. 
 (iii) Executive shall have the opportunity to appear before the Board in person and, at Executive’s option, with legal counsel, and/or present to the Board a written response to the Notice of
Consideration. 
 (iv) Executive’s employment may be terminated for Cause only if
(A) the acts or omissions specified in the Notice of Consideration did in fact occur and such actions or omissions do constitute Cause as defined in this Agreement, (B) the Board, by affirmative vote of at least 66 2/3 of its members (excluding

  
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Executive’s vote), makes a specific determination to such effect and to the effect that Executive’s employment should be terminated for Cause (“Cause Determination”),
and (C) WPX thereafter provides Executive with a Notice of Termination that specifies in specific detail the basis of such Separation from Service for Cause and which Notice shall be consistent with the reasons set forth in the Notice of
Consideration. 
 Nothing in this Section 2.2(b) shall preclude the Board, by majority vote, from suspending Executive from
his duties, with pay, at any time. 
 (c) Change in Control: Standard of Review. In the event that the
existence of Cause during a Post-Change Period shall become an issue in any action or proceeding between Executive, on the one hand, and any one or more of the WPX Parties on the other hand, the WPX Parties, as applicable, shall, notwithstanding the
Cause Determination, have the burden of establishing that the actions or omissions specified in the Notice of Consideration did in fact occur and do constitute Cause and that the WPX Parties have satisfied all applicable substantive and procedural
requirements of this Section. 
 2.3 If by Executive Other Than for Good Reason. If Executive has a Separation from
Service initiated by the Executive during the Post-Change Period other than for Good Reason, Disability or death, the sole obligation of the WPX Parties to Executive under this Article II shall be to pay Executive a lump-sum cash amount equal to all
Accrued Obligations determined as of the Termination Date. 
 2.4 If by Death or Disability. If Executive dies during the
Post-Change Period or if Executive has a Separation from Service during the Post-Change Period by reason of Executive’s Disability, the WPX Parties’ sole obligation to Executive under this Article II shall be to pay Executive a lump-sum
cash amount equal to all Accrued Obligations determined as of the Termination Date. 
 2.5 Waiver and Release.
Notwithstanding anything herein to the contrary, in the event that Executive’s employment terminates pursuant to Section 2.1, no WPX Party shall have any obligation to Executive under Section 2.1(a) Sections 2.1(c)-(f) and
Article III unless and until Executive executes and delivers to WPX within sixty (60) days after Separation from Service a release and waiver of WPX, the Employer and Affiliates, in substantially the same form as attached hereto as Exhibit A,
or as otherwise mutually acceptable. 
 2.6 Breach of Covenants. If a court determines that Executive has breached any
non-competition, non-solicitation, non-disparagement, confidential information or intellectual property covenant entered into at any time between Executive (on the one hand) and WPX, the Employer, or any Affiliate (on the other hand), including the
Restrictive Covenants in Article VI, (a) no WPX Party shall have any obligation to pay or provide any severance or benefits under Articles II and/or III, (b) all of Executive’s unexercised Stock Options shall terminate as of the date
of the breach, (c) all of Executive’s Restricted Stock shall be forfeited as of the date of the breach, (d) Executive shall reimburse a WPX Party for any amount already paid under Articles II and/or III, and (e) Executive shall
repay to WPX an amount equal to the aggregate “spread” (as 

  
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defined below) on all Stock Options exercised in the one year period prior to the first date on which Executive breached any such covenant (“Breach Date”). For purposes of this
Section 2.6, “spread” in respect of any Stock Option shall mean the product of the number of shares as to which such Stock Option has been exercised during the one year period prior to the Breach Date multiplied by the difference
between the closing price of the common stock on the exercise date (or if the common stock did not trade on the New York Stock Exchange or other exchange, if any, on which common stock had a higher trading volume at the time, on the exercise date,
the most recent date on which the common stock did so trade) and the exercise price of the Stock Options. 
 Article III.

 Certain Potential Benefit Adjustments by WPX 

3.1 Potential Benefit Adjustment on Account of “Golden Parachute” Excise Taxes. If at any time or from time to time, it
shall be determined by independent tax professionals selected by WPX (“Tax Professional”) that any payment or other benefit to Executive pursuant to Article II of this Agreement or otherwise (“Potential Parachute
Payment”) is or will, but for the provisions of this Article III, become subject to the excise tax imposed by Section 4999 of the Code or any similar tax payable under any state, local, foreign or other law, but expressly excluding any
income taxes and penalties or interest imposed pursuant to Section 409A of the Code (“Excise Taxes”), then the Executive’s Potential Parachute Payment shall be either (a) provided to the Executive in full, or
(b) provided to the Executive as to such lesser extent which would result in no portion of such benefits being subject to the Excise Taxes, whichever of the foregoing amounts, when taking into account applicable federal, state, local and
foreign income and employment taxes, the Excise Tax, and any other applicable taxes, results in the receipt by the Executive, on an after-tax basis, of the greatest amount of benefits, notwithstanding that all or some portion of such benefits may be
taxable under the Excise Taxes (“Payments”). 
 3.2 Implementation of Calculations and Any Benefit Reduction
Under Section 3.1. In the event of a reduction of benefits pursuant to Section 3.1, the Tax Professional shall determine which benefits shall be reduced so as to achieve the principle set forth in Section 3.1. For purposes of
making the calculations required by Section 3.1, the Tax Professional may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of the Code
and other applicable legal authority. WPX and Executive shall furnish to the Tax Professional such information and documents as the Tax Professional may reasonably request in order to make a determination under Section 3.1. WPX shall bear all
costs the Tax Professional may reasonably incur in connection with any calculations contemplated by Section 3.1. 
 3.3
Potential Subsequent Adjustments. 
 (a) If, notwithstanding any calculations performed or reduction in
benefits imposed as described in Section 3.1, the IRS determines that Executive is liable for Excise Taxes as a result of the receipt of any payments made pursuant to Article II of this Agreement or otherwise, then Executive shall be obligated
to pay back to WPX, within thirty (30) days after a final IRS determination or in the event that the Executive challenges the final IRS determination, a final 

  
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judicial determination, a portion of the Payments equal to the “Repayment Amount.” The Repayment Amount shall be the smallest such amount, if any, as shall be required to be paid to WPX
so that the Executive’s net after-tax proceeds with respect to the Payments (after taking into account the payment of the Excise Taxes and all other applicable taxes imposed on such benefits) shall be maximized. The Repayment Amount shall be
zero if a Repayment Amount of more than zero would not result in the Executive’s net after-tax proceeds with respect to the Payments being maximized. If the Excise Taxes are not eliminated pursuant to this Section 3.3, the Executive shall
pay the Excise Taxes. 
 (b) Notwithstanding any other provision of this Article III, if (i) there is a
reduction in the payments to an Executive as described above in this Article III, (ii) the IRS later determines that the Executive is liable for Excise Taxes, the payment of which would result in the maximization of the Executive’s net
after-tax proceeds (calculated based on the full amount of the Potential Parachute Payment and as if the Executive’s benefits had not previously been reduced), and (iii) the Executive pays the Excise Tax, then WPX shall pay to the
Executive those payments which were reduced pursuant to Section 3.1 or 3.3(a) as soon as administratively possible after the Executive pays the Excise Taxes to the extent that the Executive’s net after-tax proceeds with respect to the
payment of the Payments are maximized. 
 Article IV. 

Expenses and Interest 
 4.1 Legal and Other Expenses. 
 (a) If Executive incurs
legal fees or other expenses (including expert witness and accounting fees) in an effort to determine, secure, preserve, establish entitlement to, or obtain benefits under this Agreement (collectively, “Legal and Other Expenses”),
Executive shall, regardless of the outcome of such effort, be entitled to payment of or reimbursement for such Legal and Other Expenses in accordance with Section 4.1(b). 

(b) All Legal and Other Expenses shall be paid or reimbursed on a monthly basis within 10 days after presentation of
Executive’s written request for reimbursement accompanied by evidence that such Legal and Other Expenses were incurred. In all events, the Company shall pay or reimburse such eligible expenses in accordance with the requirements of Treasury
Regulation § 1.409A-3(i)(1)(iv) for reimbursement and in-kind benefit plans, to the extent applicable. For this purpose, (i) any reimbursement shall be for expenses incurred during Executive’s lifetime or within two additional years
following Executive’s death, (ii) the amount of expenses eligible for reimbursement, or benefits provided, in one calendar year shall not affect the expenses eligible for reimbursement, or benefits to be provided, in any other calendar
year, (iii) the reimbursement of any eligible expense will be made no later than the last day of the calendar year next following the calendar year in which the expense was incurred, and (iv) the right to any reimbursement or benefit shall
not be subject to liquidation or exchange for any other benefit. 

  
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 (c) If Executive does not prevail (after exhaustion of all available
judicial remedies) in respect of a claim by Executive or by one or more of the WPX Parties, hereunder, and such parties establish before a court of competent jurisdiction that Executive had no reasonable basis for his claim hereunder, or for his
response to such parties’ claim hereunder, or acted in bad faith, no further payment of or reimbursement for Legal and Other Expenses shall be due to Executive in respect of such claim and Executive shall refund any amounts previously paid or
reimbursed hereunder with respect to such claim. 
 4.2 Interest. If an amount due is not paid to Executive under this
Agreement within five business days after such amount first became due and owing, interest shall accrue on such amount from the date it became due and owing until the date of payment at a annual rate equal to 200 basis points above the base
commercial lending rate published in The Wall Street Journal in effect from time to time during the period of such nonpayment. 
 Article V. 
 No Set-off or Mitigation 

5.1 No Set-off by WPX. Executive’s right to receive when due the payments and other benefits provided for under this
Agreement is absolute, unconditional and subject to no setoff, counterclaim, recoupment, or other claim, right or action that any WPX Party may have against Executive or others, except as expressly provided in this Section. Notwithstanding the prior
sentence, any WPX Party shall have the right to deduct any amounts outstanding on any loans or other extensions of credit to Executive from a WPX Party from Executive’s payments and other benefits (if any) provided for under this Agreement.
Time is of the essence in the performance by the WPX Parties of their respective obligations under this Agreement. 
 5.2 No
Mitigation. Executive shall not have any duty to mitigate the amounts payable by any WPX Party under this Agreement by seeking new employment or self-employment following termination. Except as specifically otherwise provided in this Agreement,
all amounts payable pursuant to this Agreement shall be paid without reduction regardless of any amounts of salary, compensation or other amounts which may be paid or payable to Executive as the result of Executive’s employment by another
employer or self-employment. 
 Article VI. 
 Restrictive Covenants 
 6.1 Confidential Information. The Executive
acknowledges that in the course of performing services for WPX and its Affiliates, Executive may create (alone or with others), learn of, have access to, or receive Confidential Information. The Executive recognizes that all such Confidential
Information is the sole and exclusive property of WPX and its Affiliates or of third parties to which WPX or an Affiliate owes a duty of confidentiality, that it is WPX’s policy to safeguard and keep confidential all such Confidential
Information, and that disclosure of Confidential Information to an unauthorized third party would cause irreparable damage to WPX and its Affiliates. Executive agrees that, except as required by the duties of Executive’s

  
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employment with WPX or any of its Affiliates and except in connection with enforcing Executive’s rights under this Agreement or if compelled by a court or governmental agency, in each case
provided that prior written notice is given to WPX, Executive will not, without the written consent of WPX, willfully disseminate or otherwise disclose, directly or indirectly, any Confidential Information disclosed to Executive or otherwise
obtained by Executive during his employment with WPX or its Affiliates, and will take all necessary precautions to prevent disclosure, to any unauthorized individual or entity (whether or not such individual or entity is employed or engaged by, or
is otherwise affiliated with, WPX or any Affiliate), and will use the Confidential Information solely for the benefit of WPX and its Affiliates and will not use the Confidential Information for the benefit of any other Person nor permit its use for
the benefit of Executive. These obligations shall continue during and after the termination of Executive’s employment for any reason and for so long as the Confidential Information remains Confidential Information. 

6.2 Non-Competition. During the period beginning on the Agreement Date and ending on the first anniversary of the Termination
Date, regardless of the reason for Executive’s Separation from Service, Executive agrees that without the written consent of WPX Executive shall not at any time, directly or indirectly, in any capacity: 

(a) engage or participate in, become employed by, serve as a director of, or render advisory or consulting or other
services in connection with, any Competitive Business; provided, however, that after Executive’s Separation from Service, this Section 6.2 shall not preclude Executive from (i) being an employee of, or consultant to, any business unit
of a Competitive Business if (A) such business unit does not qualify as a Competitive Business in its own right and (B) Executive does not have any direct or indirect involvement in, or responsibility for, any operations of such
Competitive Business that cause it to qualify as a Competitive Business, or (ii) with the approval of WPX, being a consultant to, an advisor to, a director of, or an employee of a Competitive Business; or 

(b) make or retain any financial investment, whether in the form of equity or debt, or own any interest, in any
Competitive Business. Nothing in this subsection (b) shall, however, restrict Executive from making an investment in any Competitive Business if such investment does not (i) represent more than 1% of the aggregate market value of the
outstanding capital stock or debt (as applicable) of such Competitive Business, (ii) give Executive any right or ability, directly or indirectly, to control or influence the policy decisions or management of such Competitive Business, or
(iii) create a conflict of interest between Executive’s duties to WPX and its Affiliates or under this Agreement and his interest in such investment. 
 6.3 Non-Solicitation. During the period beginning on the Agreement Date and ending on the first anniversary of the Termination Date, regardless of the reason for Executive’s Separation from
Service, Executive shall not, directly or indirectly: 
 (a) other than in connection with the good-faith
performance of his duties as an officer of WPX or its Affiliates, cause or attempt to cause any employee, director or consultant of WPX or an Affiliate to terminate his or her relationship with WPX or an Affiliate; 

  
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 (b) employ, engage as a consultant or adviser, or solicit the employment or
engagement as a consultant or adviser, of any employee of WPX or an Affiliate (other than by WPX or its Affiliates), or cause or attempt to cause any Person to do any of the foregoing; 

(c) establish (or take preliminary steps to establish) a business with, or cause or attempt to cause others to establish
(or take preliminary steps to establish) a business with, any employee of WPX or an Affiliate, if such business is or will be a Competitive Business; or 
 (d) interfere with the relationship of WPX or an Affiliate with, or endeavor to entice away from WPX or an Affiliate, any Person who or which at any time during the period commencing one year prior to the
Termination Date was or is, to Executive’s knowledge, a material customer or material supplier of, or maintained a material business relationship with, WPX or an Affiliate. 

6.4 Intellectual Property. 
 (a) During the period of Executive’s employment with WPX or any Affiliate, and thereafter upon WPX’s request, regardless of the reason for Executive’s Separation from Service, Executive
shall disclose immediately to WPX all Work Product that: (i) relates to the business of WPX or any Affiliate or any customer or supplier to WPX or an Affiliate or any of the products or services being developed, manufactured, sold or otherwise
provided by WPX or an Affiliate or that may be used in relation therewith; or (ii) results from tasks or projects assigned to Executive by WPX or an Affiliate; or (iii) results from the use of the premises or personal property (whether
tangible or intangible) owned, leased or contracted for by WPX or an Affiliate. Executive agrees that any Work Product shall be the property of WPX and, if subject to copyright, shall be considered a “work made for hire” within the meaning
of the Copyright Act of 1976, as amended. If and to the extent that any such Work Product is not a “work made for hire” within the meaning of the Copyright Act of 1976, as amended, Executive hereby assigns, and agrees to assign, to WPX all
right, title and interest in and to the Work Product and all copies thereof, and all copyrights , patent rights, trademark rights, trade secret rights and all other proprietary and intellectual property rights in the Work Product, without further
consideration, free from any claim, lien for balance due, or rights of retention thereto on the part of Executive. 
 (b) Notwithstanding the foregoing, WPX agrees and acknowledges that the provisions of Section 6.4(a) relating to ownership and disclosure of Work Product do not apply to any inventions or other
subject matter for which no equipment, supplies, facility, or trade secret information of WPX or an Affiliate was used and that are developed entirely on Executive’s own time, unless: (i) the invention or other subject matter relates
(a) to the business of WPX or an Affiliate, or (b) to the actual or demonstrably anticipated research or development of WPX or any Affiliate, or (ii) the invention or other subject matter results from any work performed by Executive
for WPX or any Affiliate. 

  
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 (c) Executive agrees that, upon disclosure of Work Product to WPX, Executive
will, during his employment by WPX or an Affiliate and at any time thereafter, at the request and cost of WPX, execute all such documents and perform all such acts as WPX or an Affiliate (or their respective duly authorized agents) may reasonably
require: (i) to apply for, obtain and vest in the name of WPX alone (unless WPX otherwise directs) letters patent, copyrights or other intellectual property protection in any country throughout the world, and when so obtained or vested to renew
and restore the same; and (ii) to prosecute or defend any opposition proceedings in respect of such applications and any opposition proceedings or petitions or applications for revocation of such letters patent, copyright or other intellectual
property protection, or otherwise in respect of the Work Product. 
 (d) In the event that WPX is unable, after
reasonable effort, to secure Executive’s execution of such documents as provided in Section 6.4(c), whether because of Executive’s physical or mental incapacity or for any other reason whatsoever, Executive hereby irrevocably
designates and appoints WPX and its duly authorized officers and agents as his agent and attorney-in-fact, to act for and on his behalf to execute and file any such application or applications and to do all other lawfully permitted acts to further
the prosecution, issuance and protection of letters patent, copyright and other intellectual property protection with the same legal force and effect as if personally executed by Executive. 

6.5 Non-Disparagement. 
 (a) Executive agrees not to make, or cause to be made, any statement, observation or opinion, or communicate any information (whether oral or written, directly or indirectly) that (i) accuses or
implies that WPX and/or any of its Affiliates, together with their respective present or former officers, directors, partners, stockholders, employees and agents, and each of their predecessors, successors and assigns, engaged in any wrongful,
unlawful or improper conduct, whether relating to Executive’s employment (or the termination thereof), the business or operations of WPX, or otherwise; or (ii) disparages, impugns or in any way reflects adversely upon the business or
reputation of WPX and/or any of its Affiliates, together with their respective present or former officers, directors, partners, stockholders, employees and agents, and each of their predecessors, successors and assigns. 

(b) WPX agrees not to authorize any statement, observation or opinion, or communicate any information (whether oral or
written, direct or indirect) that (i) accuses or implies that Executive engaged in any wrongful, unlawful or improper conduct relating to Executive’s employment or termination thereof with WPX, or otherwise; or (ii) disparages,
impugns or in any way reflects adversely upon the reputation of Executive. 

  
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 (c) Notwithstanding anything contained herein to the contrary, nothing
herein shall be deemed to preclude Executive or WPX from providing truthful testimony or information pursuant to subpoena, court order or other similar legal or regulatory process, provided, that to the extent permitted by law, Executive will
promptly inform WPX of any such obligation prior to participating in any such proceedings. 
 6.6 Reasonableness of
Restrictive Covenants. 
 (a) Executive acknowledges that the covenants contained in this Agreement are
reasonable in the scope of the activities restricted, the geographic area covered by the restrictions, and the duration of the restrictions, and that such covenants are reasonably necessary to protect WPX’s legitimate interests in its
Confidential Information, its proprietary work, and in its relationships with its employees, customers, suppliers and agents. 
 (b) WPX has, and Executive has had an opportunity to, consult with their respective legal counsel and to be advised concerning the reasonableness and propriety of such covenants. Executive acknowledges
that his observance of the covenants contained herein will not deprive Executive of the ability to earn a livelihood or to support his or her dependents. 
 (c) Executive understands he is bound by the terms of this Article VI, whether or not he receives severance payments under the Agreement or otherwise. 

6.7 Right to Injunction: Survival of Undertakings. 

(a) In recognition of the confidential nature of the Confidential Information, and in recognition of the necessity of the
limited restrictions imposed by this Agreement, Executive and WPX agree that it would be impossible to measure solely in money the damages which WPX would suffer if Executive were to breach any of his obligations hereunder. Executive acknowledges
that any breach of any provision of this Agreement would irreparably injure WPX. Accordingly, Executive agrees that if he breaches any of the provisions of this Agreement, WPX shall be entitled, in addition to any other remedies to which WPX may be
entitled under this Agreement or otherwise, to an injunction to be issued by a court of competent jurisdiction, to restrain any breach, or threatened breach, of any provision of this Agreement without the necessity of posting a bond or other
security therefor, and Executive hereby waives any right to assert any claim or defense that WPX has an adequate remedy at law for any such breach. 
 (b) If a court determines that any covenant included in this Article VI is unenforceable in whole or in part because of such covenant’s duration or geographical or other scope, such court shall have
the power to modify the duration or scope of such provision, as the case may be, so as to cause such covenant as so modified to be enforceable. 

  
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 (c) All of the provisions of this Agreement shall survive any Separation
from Service of Executive, without regard to the reasons for such termination. Notwithstanding Section 2.6, in addition to any other rights it may have, neither WPX nor any Affiliate shall have any obligation to pay or provide severance or
other benefits (except as may be required under the Employee Retirement Income Security Act of 1974, as amended) after the Termination Date if Executive has materially breached any of Executive’s obligations under this Agreement. 

Article VII. 
 Non-Exclusivity of Rights 
 7.1 Waiver of Certain Other Rights. To
the extent that Executive shall have received severance payments or other severance benefits under any other plan, program, policy, practice or procedure or agreement of any WPX Party prior to receiving severance payments or other severance benefits
pursuant to Article II, the severance payments or other severance benefits under such other plan, program, policy, practice or procedure or agreement shall reduce (but not below zero) the corresponding severance payments or other benefits to which
Executive shall be entitled under Article II. To the extent that Executive accepts payments made pursuant to Article II, he shall be deemed to have waived his right to receive a corresponding amount of future severance payments or other severance
benefits under any other plan, program, policy, practice or procedure or agreement of any WPX Party. 
 7.2 Other Rights.
Except as expressly provided in Section 7.1 and as provided in the Recitals to this Agreement, this Agreement shall not prevent or limit Executive’s continuing or future participation in any benefit, bonus, incentive or other plan,
program, policy, practice or procedure provided by a WPX Party and for which Executive may qualify, nor shall this Agreement limit or otherwise affect such rights as Executive may have under any other agreements with a WPX Party. Amounts that are
vested benefits or that Executive is otherwise entitled to receive under any plan, program, policy, practice or procedure and any other payment or benefit required by law at or after the Termination Date shall be payable in accordance with such
plan, program, policy, practice or procedure or applicable law except as expressly modified by this Agreement. 
 7.3 No
Right to Continued Employment. Nothing in this Agreement shall guarantee the right of Executive to continue in employment, and WPX and the Employer retain the right to terminate Executive’s employment at any time for any reason or for no
reason. 
 Article VIII. 
 Claims Procedure 
 8.1 Filing a Claim. 

(a) Each individual eligible for benefits under this Agreement (“Claimant”) may submit his application
for benefits (“Claim”) to WPX (or to such other person as may be designated by WPX) in writing in such form as is provided or approved by WPX. A Claimant shall have no right to seek review of a denial or benefits, or to bring any
action in any court to enforce a Claim, prior to his filing a Claim and exhausting his rights to review under Sections 8.1 and 8.2. 

  
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 (b) When a Claim has been filed properly, it shall be evaluated and the
Claimant shall be notified of the approval or the denial of the Claim within 30 days after the receipt of such Claim. A Claimant shall be given a written notice in which the Claimant shall be advised as to whether the Claim is granted or denied, in
whole or in part. If a Claim is denied, in whole or in part, the notice shall contain (i) the specific reasons for the denial, (ii) references to pertinent provisions of this Agreement on which the denial is based, (iii) a description
of any additional material or information necessary to perfect the Claim and an explanation of why such material or information is necessary, (iv) the Claimant’s right to seek review of the denial and a description of the procedures for
such review and (v) a statement regarding Claimant’s right to bring a civil action under section 502(a) of ERISA following an adverse decision on appeal. 
 8.2 Review of Claim Denial. If a Claim is denied, in whole or in part, or if a Claim is neither approved nor denied within the 30-day period specified Section 8.1(b), the Claimant (or his or
her authorized representative) shall have the right at any time to (a) request that WPX (or such other person as shall be designated in writing by WPX) review the denial or the failure to approve or deny the Claim, (b) review pertinent
documents, and (c) submit issues and comments in writing. Within 30 days after such a request is received, WPX shall complete its review and give the Claimant written notice of its decision. Upon request and without charge, the Claimant will be
provided reasonable access to and copies of all documents, records and other information relevant to the claim. WPX shall include in its notice to Claimant (i) the specific reasons for its decision, (ii) references to provisions of this
Agreement on which its decision is based, (iii) a statement that the Claimant is entitled to receive, upon request and free of charge, reasonable access to and copies of all documents, records and other information relevant to the claim; and
(iv) a statement regarding the Claimant’s right to bring a civil action under ERISA Section 502(a) within 180 days of receipt of notice of denial on appeal. 
 Article IX. 
 Miscellaneous 

9.1 No Assignability. This Agreement is personal to Executive and without the prior written consent of WPX shall not be assignable
by Executive otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by Executive’s legal representatives. 

9.2 Successors. This Agreement shall inure to the benefit of and be binding upon WPX and its successors and assigns. WPX will
require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of WPX (or the Employer during any Post-Change Period) to assume expressly and agree to perform
this Agreement in the same manner and to the same extent that WPX (or, if applicable, the Employer) would be required to perform it if no such succession had taken place. Any successor to the business or assets of WPX (or any Employer) which assumes

  
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or agrees to perform this Agreement by operation of law, contract, or otherwise shall be jointly and severally liable with WPX (or the Employer) under this Agreement as if such successor were WPX
(or the Employer). If Executive’s employment is transferred from WPX to a Subsidiary, or from a Subsidiary to WPX or another Subsidiary, the rights and obligations of the Employer (determined prior to such transfer) shall automatically become
the rights and obligations of the Employer (determined immediately following such transfer), without requiring the consent of Executive. 
 9.3 Payments to Beneficiary. If Executive dies before receiving amounts to which Executive is entitled under this Agreement, such amounts shall be paid in a lump sum to one or more beneficiaries
designated in writing by Executive (each, a “Beneficiary”). If none is so designated, Executive’s estate shall be his or her Beneficiary. 
 9.4 Non-Alienation of Benefits. Benefits payable under this Agreement shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, charge,
garnishment, execution or levy of any kind, either voluntary or involuntary, before actually being received by Executive, and any such attempt to dispose of any right to benefits payable under this Agreement shall be void. 

9.5 Severability. If any one or more Articles, Sections or other portions of this Agreement are declared by any court or
governmental authority to be unlawful or invalid, such unlawfulness or invalidity shall not serve to invalidate any Article, Section or other portion not so declared to be unlawful or invalid. Any Article, Section or other portion so declared to be
unlawful or invalid shall be construed so as to effectuate the terms of such Article, Section or other portion to the fullest extent possible while remaining lawful and valid. 
 9.6 Amendments. This Agreement shall not be amended or modified except by written instrument executed by WPX and Executive; provided however that notwithstanding the terms of this Agreement to the
contrary, the terms of this Agreement shall be administered in such a way to comply with Code Section 409A as reasonably deemed appropriate by WPX; provided further however that notwithstanding anything to the contrary herein, WPX shall have
the unilateral right to modify or amend this Agreement as it reasonably deems appropriate related to compliance with Code Section 409A. The parties to this Agreement intend that this Agreement meet the requirements of Internal Revenue Code
Section 409A and recognize that it may be necessary to modify this Agreement to reflect guidance under Code Section 409A issued by the Internal Revenue Service. 
 9.7 Notices. All notices and other communications under this Agreement shall be in writing and delivered by hand, by nationally-recognized delivery service that promises overnight delivery, or by
first-class registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 
 If to Executive, to
Executive at his most recent home address on file with WPX. 

  
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 If to WPX or the Employer: 

Marcia MacLeod 

Senior Vice President, Human Resources and Administration 
 WPX Energy, Inc. 
 One Williams Center 

Tulsa, OK 74172 
 or to such
other address as either party shall have furnished to the other in writing. WPX may also deliver notice and other communications under this Agreement in writing by email transmission to the work email address of the Executive. 

Notice and communications shall be effective when received by the addressee. An email notice under this Agreement will be deemed received when sent. All
other notices or communications will be deemed received when delivered if delivery is confirmed by a delivery service or return receipt. 
 9.8 Joint and Several Liability. In the event that the Employer incurs any obligation to Executive pursuant to this Agreement, such Employer, WPX and each Subsidiary, if any, of which such Employer
is a subsidiary shall be jointly and severally liable with such Employer for such obligation. 
 9.9 Counterparts. This
Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together constitute one and the same instrument. 
 9.10 Governing Law. This Agreement shall be interpreted and construed in accordance with the laws of the State of Oklahoma, without regard to its choice of law principles, except to the extent
preempted by federal law. 
 9.11 Captions. The captions of this Agreement are not a part of the provisions hereof and
shall have no force or effect. 
 9.12 Rules of Construction. Reference to a specific law shall include such law, any
valid regulation promulgated thereunder, and any comparable provision of any future legislation amending, supplementing or superseding such section. 
 9.13 Number and Gender. Wherever appropriate, the singular shall include the plural, the plural shall include the singular, and the masculine shall include the feminine. 

9.14 Tax Withholding. WPX may withhold from any amounts payable under this Agreement or otherwise payable to Executive any Taxes
WPX determines to be required under applicable law or regulation and may report all such amounts payable to such authority as is required by any applicable law or regulation. 

  
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 9.15 No Rights Prior to Change Date. Notwithstanding any provision of this Agreement
to the contrary, this Agreement shall not entitle Executive to any compensation, severance or other payments or benefits of any kind prior to a Change Date. 
 9.16 Entire Agreement. This Agreement and the documents expressly referred to herein contain the entire understanding of WPX and Executive with respect to severance or benefits in relation to a
Change in Control. 
 IN WITNESS WHEREOF, Executive and a duly authorized representative of WPX Energy, Inc. have executed this
Change in Control Severance Agreement                             , 20__. 

 

			
	[INSERT EXECUTIVE NAME]
		
	 	 	 
		
	Date:	 	 

  

			
	WPX ENERGY, INC., acting on behalf of itself and its Subsidiaries and Affiliates
		
	By:	 	 
	Title:	 	 
	Date:	 	 

  
 26 

 EXHIBIT A 
 WPX ENERGY, INC. 
 WAIVER AND RELEASE 

CHANGE IN CONTROL SEVERANCE AGREEMENT (CEO) 
 This agreement, release and waiver (the “Agreement”), made as of the        day of
                            , 20       (the “Effective
Date”), is made by and among WPX Energy, Inc. (together with all successors thereto, “Company”) and [INSERT EXECUTIVE NAME] (“Executive”). 

WHEREAS, the Executive and the Company have entered into WPX Energy, Inc. Change in Control Severance Agreement (CEO) (“Severance
Agreement”); 
 NOW THEREFORE, in consideration for receiving benefits and severance under the Severance Agreement and in
consideration of the representations, covenants and mutual promises set forth in this Agreement, the parties agree as follows: 

1. Release. Except with respect to all of the Company’s obligations under the Severance Agreement, the Executive, and
Executive’s heirs, executors, assigns, agents, legal representatives, and personal representatives, hereby releases, acquits and forever discharges the Company, its agents, subsidiaries, affiliates, and their respective officers, directors,
agents, servants, employees, attorneys, shareholders, successors, assigns and affiliates, of and from any and all claims, liabilities, demands, causes of action, costs, expenses, attorneys fees, damages, indemnities and obligations of every kind and
nature, in law, equity, or otherwise, known and unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or in any way related to agreements, events, acts or conduct at any time prior to the day prior to execution of this
Agreement that arose out of or were related to the Executive’s employment with the Company or the Executive’s termination of employment with the Company including, but not limited to, claims or demands related to wages. salary, bonuses,
commissions, stock, stock options, or any other ownership interests in the Company, vacation pay, fringe benefits, expense reimbursements, sabbatical benefits, severance benefits, or any other form of compensation or equity or thing of value
whatsoever; claims pursuant to under Title VII of the Civil Rights Act of 1964 as amended by the Civil Rights Act of 1991, 42 U.S.C. § 2000e, et seq.; 42 U.S.C. § 1981; 42 U.S.C. § 1983; 42 U.S.C. § 1985; 42 U.S.C. §
1986; the Equal Pay Act of 1963, 29 U.S.C. § 206(d); the National Labor Relations Act, as amended, 29 U.S.C. § 160, et seq.; the Americans With Disabilities Act of 1990, 42 U.S.C. § 12101, et seq.; the Employee
Retirement Income Security Act of 1974, as amended, (“ERISA”), 29 U.S.C. § 1001, et seq.; the Age Discrimination in Employment Act of 1967, as amended by the Older Workers Benefit Protection Act of 1990, 29 U.S.C.§ 621,
et seq.; the Family and Medical Leave Act of 1993, 29 U.S.C.§ 2601 et seq.; the Equal Pay Act; the Rehabilitation Act of 1973; the federal Worker Adjustment and Retraining Notification Act (as amended) and similar laws in other
jurisdictions; the Oklahoma Anti-Discrimination Act, Okla. Stat., tit. 25, §§ 1101, et seq., and any claims for wrongful discharge, breach of contract, breach of the implied covenant of good faith and fair dealing, fraud,
discrimination, harassment, defamation, infliction of emotional distress, termination in violation of public policy, retaliation, including workers’ compensation retaliation under state statutes, tort

  
 27 

 
law; contract law; wrongful discharge; discrimination; fraud; libel; slander; defamation; harassment; emotional distress; breach of the implied covenant of good faith and fair dealing; or claims
for whistle-blowing, or other claims arising under any local, state or federal regulation, statute or common law. This Release does not apply to the payment of any and all benefits and/or monies earned, accrued, vested or otherwise owing, if any, to
the Executive under the terms of a Company sponsored tax qualified retirement or savings plan and/or any non-qualified deferred compensation plan(s) sponsored by the Company, except that the Executive hereby releases and waives any claims that his
termination was to avoid payment of such benefits or payments, and that, as a result of his termination, he is entitled to additional benefits or payments. Additionally, this Release does not apply to the indemnification provided pursuant to the
Severance Agreement. This Release does not apply to any claim or rights which might arise out of the actions of the Company after the date the Executive signs this Agreement. 
 2. No Inducement. Executive agrees that no promise or inducement to enter into this Agreement has been offered or made except as set forth in this Agreement, that the Executive is entering into
this Agreement without any threat or coercion and without reliance or any statement or representation made on behalf of the Company or by any person employed by or representing the Company, except for the written provisions and promises contained in
this Agreement. 
 3. Damages. The parties agree that damages incurred as a result of a breach of this Agreement will be
difficult to measure. It is, therefore, further agreed that, in addition to any other remedies, equitable relief will be available in the case of a breach of this Agreement. It is also agreed that, in the event Executive files a claim against the
Company with respect to a claim released by Executive herein (other than a proceeding before the EEOC), the Company may withhold, retain, or require reimbursement of all or any portion of the benefits and severance payments under the Severance
Agreement until such claim is withdrawn by Executive. 
 4. Advice of Counsel; Time to Consider; Revocation. Executive
acknowledges the following: 
 (a) Executive has read this Agreement, and understands its legal and binding
effect. Executive is acting voluntarily and of Executive’s own free will in executing this Agreement. 
 (b)
Executive has been advised to seek and has had the opportunity to seek legal counsel in connection with this Agreement. 
 (c) Executive was given at least 21 days to consider the terms of this Agreement before signing it. 
 Executive understands that, if Executive signs this Agreement, Executive may revoke it within seven days after signing it by delivering written notification of intent to revoke within that seven day
period. Executive understands that this Agreement will not be effective until after the seven-day period has expired. 

  
 28 

 5. Severability. If all or any part of this Agreement is declared by any court or
governmental authority to be unlawful or invalid, such unlawfulness or invalidity shall not invalidate any other portion of this Agreement. Any section or a part of a section declared to be unlawful or invalid shall, if possible, be construed in a
manner which will give effect to the terms of the section to the fullest extent possible while remaining lawful and valid. 
 6.
Amendment. This Agreement shall not be altered, amended, or modified except by written instrument executed by the Company and the Executive. A waiver of any portion of this Agreement shall not be deemed a waiver of any other portion of this
Agreement. 
 7. Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed to
be an original, but all of which together will constitute one and the same instrument. 
 8. Headings. The headings of
this Agreement are not part of the provisions hereof and shall not have any force or effect. 
 9. Rules of Construction.
Reference to a specific law shall include such law, any valid regulation promulgated thereunder, and any comparable provision of any future legislation amending, supplementing or superseding such section. 

10. Applicable Law. The provisions of this Agreement shall be interpreted and construed in accordance with the laws of the State
of Oklahoma without regard to its choice of law principles. 
 IN WITNESS WHEREOF, the parties have executed this Agreement as
of the dates specified below. 
  

			
	[INSERT EXECUTIVE NAME]
		
	 	 	 
		
	Date:	 	 

  

			
	WPX ENERGY, INC.
		
	By:	 	 
	Title:	 	 
	Date:	 	 

  
 29 

 A C K N O W L E D G M E N T 

I HEREBY ACKNOWLEDGE that WPX Energy, Inc. (“the Company”), in accordance with the Age Discrimination in Employment Act of
1967, as amended by the Older Workers Benefit Protection Act of 1990, informed me in writing that: 
 (1) I should consult with
an attorney before signing the Change in Control Severance Agreement (“Agreement”) that was provided to me. 
 (2) I
may review the Agreement for a period of up to twenty-one (21) days prior to signing the Agreement. If I choose to take less than twenty-one (21) days to review the Agreement, I do so knowingly, willingly and on advice of counsel.

 (3) For a period of seven (7) days following the signing of the Agreement, I may revoke the Agreement, and that the
Agreement will not become effective or enforceable until the seven (7) day revocation period has elapsed. 
 (4) Any
Severance Benefits paid pursuant to the Agreement will be paid in accordance with the Company’s normal pay cycle but will not be paid to me until the seven-day revocation period has elapsed. 

(5) Company shall not accept my signed Agreement prior to the last day of my employment. 

I HEREBY FURTHER ACKNOWLEDGE receipt of this Change in Control Severance Agreement on the
         day of
                                    , 20__. 

WITNESS: 
  

					
	  	 		 	  
		 		 	[INSERT EXECUTIVE’S NAME]

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