Document:

Amendment No. 1 to the Revolving Credit Agreement

 Exhibit 10.3 
 Execution Copy 
 AMENDMENT NO. 1 

Dated as of December 21, 2012 
 to 
 REVOLVING CREDIT AGREEMENT 

Dated as of September 14, 2011 
 THIS AMENDMENT NO. 1 (“Amendment”) is made as of December 21, 2012 (the “Amendment Effective Date”) by and among ConAgra Foods, Inc., as Company (the
“Company”), the “Banks” listed on the signature pages hereof and party hereto, and JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative Agent”), under that certain Revolving Credit
Agreement, dated as of September 14, 2011, by and among the Company, the financial institutions parties thereto as “Banks” (the “Banks”) and the Administrative Agent (as amended, supplemented or otherwise modified
from time to time, the “Credit Agreement”). Capitalized terms used herein and not otherwise defined herein shall have the respective meanings given to them in the Credit Agreement. 

WHEREAS, the Company has requested that the Banks and the Administrative Agent agree to make certain modifications to the Credit
Agreement; and 
 WHEREAS, the Company, the Banks and the Administrative Agent have so agreed on the terms and conditions set
forth herein; 
 NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions set forth herein,
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company, the Banks party hereto and the Administrative Agent hereby agree as follows. 

1. Amendments to the Credit Agreement. Effective as of the Amendment Effective Date, but subject to the satisfaction of the
condition precedent set forth in Section 2 below: (a) Article 1 of the Credit Agreement is hereby amended by inserting the new definitions set forth alphabetically: 

“Acquired Company” means Ralcorp Holdings, Inc., a Delaware corporation. 

“Acquired Company Indebtedness” means the indebtedness of the Acquired Company on the date hereof outstanding
under the documents listed on Schedule 2. 
 “Acquisition Closing Date” means the date the acquisition
by the Company by merger of a newly formed wholly owned subsidiary of the Company with and into the Acquired Company is consummated. 

 ““Domestic Subsidiary” means any Subsidiary of the Company
that is incorporated or organized under the laws of the United States, any state thereof or the District of Columbia. 
 “Term Loan Agreement” means the Term Loan Agreement dated as of December 21, 2012 by and among the Company, as borrower, Bank of America, N.A., as administrative agent, and the other
financial institutions parties thereto. 
 (b) Section 6.1 of the Credit Agreement is hereby amended and restated in its
entirety as follows: 
 6.1 Funded Debt. Other than during any fiscal period as to which clause (i) or (ii) of
this Section 6.1 is applicable (if any), the Company will not permit Consolidated Funded Debt to exceed 65% of the Consolidated Capital Base. On and after the Acquisition Closing Date, the Company will not permit Consolidated Funded Debt to
exceed the following percentage of the Consolidated Capital Base during the following fiscal periods (i) 75% for the four consecutive fiscal quarters commencing with the fiscal quarter that includes the Acquisition Closing Date; (ii) 70%
for the following four consecutive fiscal quarters thereafter; and (iii) 65% thereafter. 
 (c) A new Section 5.4 is
hereby added to the Credit Agreement immediately following Section 5.3 as follows: 
 5.4 Covenant to Guarantee
Obligations. (a) If (and solely if) as of the Acquisition Closing Date the rating of the Company’s unsecured senior long-term indebtedness (without giving effect to any third-party credit enhancement) is less than BBB- by S&P or
less than Baa3 by Moody’s, then all Material Subsidiaries that are direct wholly owned Domestic Subsidiaries (excluding, however, after the Acquisition Closing Date, the Acquired Company until the earlier of the date (x) of repayment,
redemption or satisfaction and discharge, in each case in full, of the Acquired Company Indebtedness identified on Part A of Schedule 2 hereto (the “Ralcorp Private Notes”) and (y) the “Leverage Ratio” (as defined in, and
calculated in accordance with, the Ralcorp Private Notes) of the Acquired Company is below 3.25:1.00) shall promptly (i) guarantee the Obligations pursuant to a duly executed guaranty in form and substance reasonably acceptable to the
Administrative Agent and (ii) deliver to the Administrative Agent with respect thereto applicable articles or certificates of incorporation or formation, good standing certificates, by-laws or operating agreements, incumbency certificates with
specimen signatures and, if requested by the Administrative Agent, opinions of counsel to 

  
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such guarantor or the Company (which shall cover, among other things, the legality, validity, binding effect and enforceability of the guaranty referred to in clause (a)(i)) in form and substance
substantially similar to the opinions of counsel provided in respect of the Term Loan Agreement (which may exclude local counsel for guarantors not organized under the laws of California, Delaware, Georgia, Illinois or Missouri to the extent that
such excluded guarantors do not represent more than 10% in aggregate of the Company’s consolidated total assets, Profit Before Taxes and Extraordinary Items or net income), all in form, content and scope reasonably satisfactory to the
Administrative Agent; 
 (b) If and so long as (x) any Subsidiary, including, without limitation (after the
Acquisition Closing Date), the Acquired Company or any of its subsidiaries, guarantees any other debt for borrowed money (including credit facilities, notes, bonds, debentures or similar obligations) of the Company or, solely in the case of any
wholly-owned Domestic Subsidiary (including (after the Acquisition Closing Date) the Acquired Company and its wholly-owned domestic subsidiaries), of any other Subsidiary (wholly-owned or otherwise (after the Acquisition Closing Date), including the
Acquired Company and its subsidiaries) of the Company in excess of $250,000,000 in aggregate principal amount for all of such Subsidiaries (excluding from this clause (x) guarantees by subsidiaries of the Acquired Company of Acquired Company
Indebtedness) or (y) the Company guarantees any debt for borrowed money (including credit facilities, notes, bonds, debentures or similar obligations) of any of its wholly-owned Domestic Subsidiaries (including (after the Acquisition Closing
Date) the Acquired Company and its wholly-owned domestic subsidiaries) in excess of $250,000,000 in aggregate principal amount for all of such Subsidiaries, then, within 45 days (or such later time as may be acceptable to the Administrative Agent)
thereof the Company shall cause each such Subsidiary that so guarantees debt for borrowed money as described in clause (x) and each Domestic Subsidiary that benefits from the guarantees of the Company described in clause (y), to the extent
permitted by the terms of its existing debt instruments, as in existence on the date hereof, to deliver to the Administrative Agent, a duly executed guaranty in form and substance reasonably acceptable to the Administrative Agent supported as
provided in clause (a) above; 
 (c) The guarantees required pursuant to clause (a) above shall be
released if the ratings described in clause (a) above are subsequently at least BBB- by S&P and Baa3 by Moody’s. 

  
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 (d) A new Section 11.15 is hereby added to the Credit Agreement
immediately following Section 11.14 as follows: 
 11.15 Release of Guarantors. The Banks irrevocably
authorize the Administrative Agent to release any guarantees required pursuant to Section 5.4 when such guarantees are no longer required by the terms of Section 5.4. 
 (e) Section 7.1.3 of the Credit Agreement is hereby replaced in its entirety with the following: 
 “7.1.3 Default Under Other Obligations. The Company or any Subsidiary defaults under any agreement or indenture pursuant to which the Company or any Subsidiary has borrowed more than
$35,000,000 in principal amount (or has sold notes the aggregate principal amount of which exceeds $35,000,000) and such default has not been cured within any period of grace with respect thereto, provided, however, (i) the
Company may exclude from the operation of this Section 7.1.3 one or more Subsidiaries so long as the Company’s equity investment in such excluded Subsidiaries is less than 20% of the Company’s consolidated assets, and
(ii) for the avoidance of doubt, any such default with respect to any Acquired Company Indebtedness resulting from the acquisition, redemption, exchange, repayment or prepayment (including any offer to redeem or prepay) of the same in
connection with the acquisition of the Acquired Company by the Company, or other optional offer of prepayment of the Acquired Company Indebtedness, shall be excluded from the operation of this Section 7.1.3.” 

(f) A new Schedule 2 is hereby added to the Credit Agreement immediately following Schedule 1 thereto as set forth on Exhibit A hereto.

 2. Condition of Effectiveness. The effectiveness of this Amendment is subject only to the condition precedent that the
Administrative Agent shall have received counterparts of this Amendment duly executed by the Company, the Banks required to execute and deliver this Amendment in order to give effect hereto, and the Administrative Agent. 

3. Representations and Warranties of the Company. The Company hereby represents and warrants as follows: 

(a) This Amendment and the Credit Agreement, as amended hereby, constitute legal, valid and binding obligations of the Company and are
enforceable against the Company in accordance with their terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless
of whether considered in a proceeding in equity or at law. 
 (b) As of the date hereof and immediately after giving effect to
the terms of this Amendment, (i) no Event of Default or Potential Default shall have occurred and be continuing and (ii) the representations and warranties of the Company set forth in the Credit Agreement, as amended hereby, are true and
correct in all material respects as of the date hereof; provided, that to the extent such representations and warranties are expressly stated to be made as of an earlier date, such representations and warranties shall be true and correct in
all material respects as of such earlier date. 

  
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 4. Reference to and Effect on the Credit Agreement. 

(a) Upon the effectiveness of this Amendment, on and after the date hereof, each reference in the Credit Agreement to “this
Agreement,” “hereunder,” “hereof,” “herein” or words of like import shall mean and be a reference to the Credit Agreement, as amended hereby. 
 (b) Except as specifically amended above, the Credit Agreement shall remain in full force and effect and is hereby ratified and confirmed. 

(c) The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the
Administrative Agent or the Banks, nor constitute a waiver of any provision of the Credit Agreement. 
 5. Costs and
Expenses. The Company shall pay on demand all reasonable invoiced costs and out-of-pocket expenses paid or incurred by the Administrative Agent (including the reasonable and invoiced fees, costs and expenses of external counsel to the
Administrative Agent) incurred in connection with the preparation, execution and delivery of this Amendment. 
 6. Governing
Law. THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK. 
 7.
Execution. This Amendment may be executed in any number of counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single
contract. Delivery of an executed counterpart of a signature page of this Amendment by facsimile or other electronic imaging shall be effective as delivery of a manually executed counterpart of this Amendment. 

8. Headings. Section headings used herein are for convenience of reference only, are not part of this Amendment and shall not
affect the construction of, or be taken into consideration in interpreting, this Amendment. 
 [Signature Pages Follow]

  
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 IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above
written. 
  

					
	 CONAGRA FOODS, INC.,

as the Company

		
	By	 	 /s/ John F. Gehring

		 	Name:	 	John F. Gehring
		 	Title:	 	 Executive Vice President & Chief
 Financial Officer

  
 Signature
Page to 
 ConAgra 2011 Revolving Credit Agreement 

Amendment No. 1 

 
			
	JPMORGAN CHASE BANK, N.A.,
	as Administrative Agent, an Issuing Bank and as a Bank
		
	By:	 	 /s/ Tony Yung

	Name:	 	Tony Yung
	Title:	 	Executive Director

  
 Signature
Page to 
 ConAgra 2011 Revolving Credit Agreement 

Amendment No. 1 

 
			
	BANK OF AMERICA, N.A.
		
	By:	 	 /s/ David Catherall

	Name:	 	David Catherall
	Title:	 	Managing Director

  
 Signature
Page to 
 ConAgra 2011 Revolving Credit Agreement 

Amendment No. 1 

 
					
	BNP PARIBAS
		
	By	 	 /s/ Mike Shryock

		 	Name:	 	Mike Shryock
		 	Title:	 	Managing Director
		
	By	 	 /s/ Michael Pearce

		 	Name:	 	Michael Pearce
		 	Title:	 	Managing Director

  
 Signature
Page to 
 ConAgra 2011 Revolving Credit Agreement 

Amendment No. 1 

 
					
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.
		
	By	 	 /s/ Christine Howatt

		 	Name:	 	Christine Howatt
		 	Title:	 	Authorized Signatory

  
 Signature
Page to 
 ConAgra 2011 Revolving Credit Agreement 

Amendment No. 1 

 
					
	THE ROYAL BANK OF SCOTLAND PLC
		
	By	 	 /s/ Timothy McNaught

		 	Name:	 	Timothy McNaught
		 	Title:	 	Managing Director

  
 Signature
Page to 
 ConAgra 2011 Revolving Credit Agreement 

Amendment No. 1 

 
					
	WELLS FARGO BANK, N.A.
		
	By	 	 /s/ Greg Campbell

		 	Name:	 	Greg Campbell
		 	Title:	 	Director

  
 Signature
Page to 
 ConAgra 2011 Revolving Credit Agreement 

Amendment No. 1 

 
					
	DEUTSCHE BANK AG NEW YORK BRANCH
		
	By	 	 /s/ Ming K. Chu

		 	Name:	 	Ming K. Chu
		 	Title:	 	Vice President
		
	By	 	 /s/ Heidi Sandquist

		 	Name:	 	Heidi Sandquist
		 	Title:	 	Director

  
 Signature
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 ConAgra 2011 Revolving Credit Agreement 

Amendment No. 1 

 
					
	MIZUHO CORPORATE BANK (USA)
		
	By	 	 /s/ Donna DeMagistris

		 	Name:	 	Donna DeMagistris
		 	Title:	 	Senior Vice President

  
 Signature
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 ConAgra 2011 Revolving Credit Agreement 

Amendment No. 1 

 
					
	U.S. BANK NATIONAL ASSOCIATION
		
	By	 	 /s/ Karen Nelsen

		 	Name:	 	Karen Nelsen
		 	Title:	 	Vice President

  
 Signature
Page to 
 ConAgra 2011 Revolving Credit Agreement 

Amendment No. 1 

 
			
	BARCLAYS BANK PLC
		
	By	 	  

		 	Name:
		 	Title:

  
 Signature
Page to 
 ConAgra 2011 Revolving Credit Agreement 

Amendment No. 1 

 
					
	MORGAN STANLEY BANK, N.A.
		
	By	 	 /s/ Nick Zangari

		 	Name:	 	Nick Zangari
		 	Title:	 	Authorized Signatory

  
 Signature
Page to 
 ConAgra 2011 Revolving Credit Agreement 

Amendment No. 1 

 
					
	STATE STREET BANK AND TRUST COMPANY
		
	By	 	 /s/ Mary H. Carey

		 	Name:	 	Mary H. Carey
		 	Title:	 	Vice President

  
 Signature
Page to 
 ConAgra 2011 Revolving Credit Agreement 

Amendment No. 1 

 
					
	THE BANK OF NOVA SCOTIA
		
	By	 	 /s/ Laura Gimena

		 	Name:	 	Laura Gimena
		 	Title:	 	Director

  
 Signature
Page to 
 ConAgra 2011 Revolving Credit Agreement 

Amendment No. 1 

 EXHIBIT A 

SCHEDULE 21 
 A. 
 Private Notes 

 

	1.	$50,000,000 5.43% Series C Senior Notes due December 22, 2013 ($50,000,000 outstanding) 

 

	2.	$75,000,000 4.76% Series D Senior Notes due December 22, 2013 ($21,400,000 outstanding) 

 

	3.	$100,000,000 5.57% Series E Senior Notes due December 21, 2015 ($100,000,000 outstanding) 

 

	4.	 $75,000,000 5.43% Series F Senior Notes due December 21, 20122 ($75,000,000 outstanding) 

 

	5.	$75,000,000 5.56% Series I Senior Notes, Tranche A, due January 18, 2019 ($75,000,000 outstanding) 

 

	6.	$25,000,000 5.58% Series I Senior Notes, Tranche B, due January 18, 2019 ($25,000,000 outstanding) 

 

	7.	$100,000,000 5.93% Series J Senior Notes due May 11, 2022 ($100,000,000 outstanding) 

 

	8.	$577,500,000 7.29% Notes due 2018 ($577,500,000 outstanding) 

  

	9.	$20,000,000 Floating Rate Notes due 2018 ($20,000,000 outstanding) 

  

	10.	$67,000,000 7.39% Notes due 2020 ($67,000,000 outstanding) 

  

	11.	$50,000,000 7.45% Series 2009A Senior Notes due May 28, 2019 ($50,000,000 outstanding) 

 

	12.	$50,000,000 7.60% Series 2009B Senior Notes due May 28, 2021 ($50,000,000 outstanding) 

 Bank Debt 
  

	1.	May 31, 2012 $300,000,000 Revolving Credit Facility with JPM as administrative agent. ($0 outstanding) 

B. 
 Receivables Purchase
Agreement 
  

	1.	Amended and Restated Receivables Purchase Agreement, dated as of November 4, 2010, among the Company, Ralcorp Receivables Corporation, a Subsidiary of the Company
(“RRC”), the commercial paper conduits party thereto, the committed purchasers party thereto, the funding agents party thereto, and JPMorgan Chase Bank, N.A., as agent, as amended, and Amended and Restated Receivables Sale Agreement, dated
as of November 4, 2010, among the Originators party thereto and Ralcorp Receivables Corporation, as amended. 

  

 

	1	 All statements as to amounts outstanding are per the Acquired Company’s 10-Q for its fiscal quarter ended June 30, 2012.

	2 	 If outstanding.Employment Agreement - J. Mike Stice

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 between 

ACCESS MIDSTREAM PARTNERS GP, L.L.C. 
 and 
 J. MICHAEL STICE 

DATED JANUARY 1, 2013 

 EMPLOYMENT AGREEMENT 

THIS AGREEMENT (this “Agreement”) is made effective as of January 1, 2013 (the “Effective Date”), between Access
Midstream Partners GP, L.L.C., a Delaware limited liability company (the “Company”), and J. Michael Stice, an individual (the “Executive”). 
 W I T N E S S E T H: 
 WHEREAS, the Company desires to retain the services of the
Executive and the Executive desires to make the Executive’s services available to the Company. 
 NOW, THEREFORE, in
consideration of the mutual promises herein contained, the Company and the Executive agree as follows, effective as of the Effective Date: 
  

	1.	Employment. The Company hereby employs the Executive and the Executive hereby accepts such employment subject to the terms and conditions contained in this
Agreement. The Executive is engaged as an employee of the Company, and the Executive and the Company do not intend to create a joint venture, partnership or other relationship which might impose a fiduciary obligation on the Executive or the Company
in the performance of this Agreement. 

  

	2.	Executive’s Duties. The Executive is employed on a full-time basis. Throughout the term of this Agreement, the Executive will use the Executive’s best
efforts and due diligence to assist the Company in achieving the most profitable operation of the Company and the Company’s Affiliates (as defined in paragraph 6.1.1) consistent with developing and maintaining a quality business operation. The
Executive shall also devote all of the Executive’s working time, attention and energies to the performance of the Executive’s duties and responsibilities under this Agreement. 

 

	 	2.1	Specific Duties. The Executive will serve as Chief Executive Officer of the Company (or any successor entity thereto), or any entity to which substantially all
of the Company’s assets are transferred or contributed, and in such positions as are mutually agreed upon by the parties. The Executive shall perform all of the duties required to fully and faithfully execute the office and position to which
the Executive is appointed, and such other duties as may be reasonably requested by the Board of Managers of the Company (the “Board”). During the term of this Agreement, the Executive may be nominated for election or appointed to serve as
a director or officer of any of the Company’s Affiliates as determined in such Affiliates’ Board of Directors’ sole discretion. On behalf of the Company, the services of the Executive will be requested and directed by the Board.

  
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	 	2.2	Rules and Regulations. The Company has issued various policies and procedures applicable to employees and the Executive including an Employment Policies Manual
which sets forth the general human resources policies of the Company and addresses frequently asked questions regarding the Company. The Executive agrees to comply with such policies and procedures except to the extent inconsistent with this
Agreement. Such policies and procedures may be changed or adopted in the sole discretion of the Company without advance notice. 

  

	3.	Other Activities. Except as provided in this Agreement or approved by the Board, in writing, the Executive agrees not to: (a) engage in other
business activities independent of the Company or its Affiliates; (b) serve as an officer, director, partner, member, principal, employee, agent, representative, consultant or independent contractor of any entity or firm other than the Company
or its Affiliates; or (c) directly or indirectly own, manage, operate, control or participate in the ownership, management, operation or control of, or have any interest, financial or otherwise, in any Midstream Gas Gathering and Processing
Business other than on behalf of the Company and its Affiliates. For purposes of this Agreement, the term “Midstream Gas Gathering and Processing Business” means any business (i) involving the gathering, compressing, dehydrating,
processing, treating, fractionating, marketing and transporting natural gas and/or natural gas liquids or (ii) engaged in by the Company and its Affiliates now or at any time during the term hereof. The foregoing will not prohibit ownership of
publicly traded securities or service as an officer or director of a not-for-profit organization. If the Executive serves as a director or officer of a not-for-profit organization, the Executive shall disclose the name of the organization and his
involvement in an annual disclosure statement, the form of which shall be provided by the Company. 

  

	4.	Executive’s Compensation. The Company agrees to compensate the Executive as follows: 

 

	 	4.1	Base Salary. A base salary (the “Base Salary”) at the annual rate of not less than Seven Hundred Fifty Thousand Dollars ($750,000.00) will be paid to
the Executive in regular installments in accordance with the Company’s designated payroll schedule. The Board may increase the Base Salary further based upon the Executive’s annual performance reviews. 

 

	 	4.2	 Bonuses. The Company may periodically pay bonus compensation to the Executive. Any bonus compensation is subject to the requirement that the
Executive be employed by the Company on the bonus payment date selected by the Company, and will be at the absolute discretion of the Company in such amounts and at such times as the Board may determine. The Executive recognizes and acknowledges
that the award of bonuses is not guaranteed or promised in any way. Additionally, in the event the Executive resigns employment, the Executive shall not be eligible for any bonus compensation that may have otherwise been payable after such initial
notice of resignation. 

  
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The Executive shall be eligible to receive a target annual bonus for 2012 of Seven Hundred Fifty Thousand Dollars ($750,000.00). The Executive was paid Three Hundred Seventy Five Thousand Dollars
($375,000.00) of the Seven Hundred Fifty Thousand Dollar ($750,000.00) targeted 2012 annual bonus on July 13, 2012. Any additional amount of such 2012 annual bonus that the Company determines to pay to the Executive shall be paid not later than
January 31, 2013, provided that the Executive is an active full-time employee of the Company on the payment date. Bonus compensation shall be paid to the Executive by separate check apart from the Executive’s Base Salary described above in
paragraph 4.1, net of standard, appropriate employment-related deductions (including federal income tax at the applicable supplemental tax withholding rate), under the appropriate Internal Revenue Service (“IRS”) guidelines, and applicable
state and payroll taxes. In order to be entitled to the bonus compensation set forth herein and any future bonuses, the Executive must be an active full-time employee of the Company on the bonus date(s) selected by the Company. The Board in its
discretion can potentially increase the bonus targets based on the Executive’s annual performance review. Bonuses up to the target amounts will be made in cash payment only, whereas bonuses exceeding targets may be paid in the form of cash or
equity interests as determined in the discretion of the Board. The Executive recognizes and acknowledges that targets provided above, are not guaranteed or promised in any way and payment of any bonus compensation shall be contingent upon the
achievement of performance objectives, in each case, as determined in the discretion of the Board. Additionally, in the event the Executive resigns employment, the Executive shall not be eligible for any bonus compensation that may have otherwise
been payable after such initial notice of resignation. 

  

	 	4.3	Long Term Incentive and Equity Compensation. The Executive will be awarded a participation interest in the Chesapeake Midstream Management Incentive Compensation
Plan (the “MICP”), the size of which will be based on the long term performance of the MLP (as defined in paragraph 6.1.1) and measured relative to the cash distributed by, and the appreciation in the common equity value of, such entity.
Such interest will be subject to service-based vesting requirements, with partial acceleration of vesting in connection with certain terminations pursuant to the provisions of the MICP plan document. In addition, the Executive has been and may be
awarded actual and/or phantom equity interests in the MLP and/or other awards tied to the value of the MLP under the Chesapeake Midstream Partners Long Term Incentive Plan (the “LTIP”). The Executive’s interests in the LTIP will be
subject to service and/or performance-based vesting requirements. The terms of the MICP and LTIP will be set forth in detailed plan documents which will govern the terms of the Executive’s awards under such arrangements.

  
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The Executive will be eligible to receive a targeted 2012 equity unit award under the LTIP with an aggregate fair market value of Three Hundred Seventy Five Thousand Dollars ($375,000.00). A
portion of such target award ($225,000) shall represent the Executive’s 2012 equity award opportunity and a portion of such award ($150,000) shall represent a one-time retention award in connection with the transactions contemplated by the
Purchase Agreement. Of the Three Hundred Seventy Five Thousand Dollar ($375,000.00) targeted 2012 equity unit award, the Company granted to the Executive a portion of such equity unit award with a fair market value of Two Hundred Sixty Two Thousand
Five Hundred Dollars ($262,500.00) (consisting of the $150,000 retention award referenced above and $112,500 of the Executive’s 2012 equity award opportunity) on July 13, 2012. Any additional portion of such target equity award that the
Company determines to grant to the Executive shall be granted not later than January 31, 2013, provided that the Executive is an active full-time employee of the Company on the date of grant. The terms of the award will be governed by the LTIP
plan document and the related award agreement. 

  

	 	4.4	Benefits. The Company will provide the Executive with eligibility for such retirement benefits, reimbursement of reasonable expenditures for dues, travel and
entertainment and such other benefits as are customarily provided to similarly situated executives of the Company and as are set forth in and governed by the Company’s Employment Policies Manual. The Company will also provide the Executive the
opportunity to apply for coverage under the Company’s medical, life and disability plans, if any. If the Executive is accepted for coverage under such plans, the Company will make such coverage available to the Executive on the same terms as is
customarily provided by the Company to the plan participants as modified from time to time. The Executive is subject to all of the terms and provisions of the Company’s benefit plans or policies. The following specific benefits will also be
provided to the Executive at the expense of the Company: 

  

	 	4.4.1	Vacation. The Executive will be entitled to take one hundred seventy-six (176) hours of paid vacation annually, calculated from the Executive’s
anniversary date, during the term of this Agreement. Except as otherwise provided herein, no additional compensation will be paid for failure to take vacation. 

 

	5.	 Term. Unless this Agreement is terminated pursuant to the terms of paragraph 6 below, this Agreement and the Executive’s employment
hereunder shall be for a term (the “Employment Term”) commencing on the Effective Date, and ending on June 30, 2017 (the “Initial Expiration Date”). If not previously terminated, the Employment Term shall automatically be
extended for one (1) additional year on the Initial Expiration Date and on each subsequent anniversary of the Initial Expiration Date, unless either the Executive or the Company elects not to so

  
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extend the Employment Term by notifying the other party, in writing, of such election not less than one hundred eighty (180) days prior to the last day of the then current Employment Term
(each of the Initial Expiration Date and the last day of any then current extended Employment Term, the “Expiration Date”). 

  

	6.	Termination. This Agreement will continue in effect until the expiration of the term stated in Section 5 of this Agreement unless earlier terminated
pursuant to this Section 6. For purposes of this Agreement, “Termination Date” shall mean (a) if the Executive’s employment is terminated by death, the date of death; (b) if the Executive’s employment is terminated
pursuant to Section 6.3 due to a disability, thirty (30) days after notice of termination is provided to the Executive in accordance with Section 6.3; (c) if the Executive’s employment is terminated by the Company without
Cause pursuant to Section 6.1.1, on the effective date of termination specified in the notice required by Section 6.1.1; (d) if the Executive’s employment is terminated by Company for Cause pursuant to Section 6.1.2, the
date on which the notice of termination required by Section 6.1.2 is given; or (e) if the Executive’s employment is terminated by the Executive pursuant to Section 6.2, on the effective date of termination specified by the
Executive in the notice of termination required by Section 6.2 unless the Company rejects such date as allowed by Section 6.2, in which case it would be the date specified by the Company. 

 

	 	6.1	Termination by Company. The Executive’s employment under this Agreement may be terminated prior to the expiration of the Term under the following
circumstances: 

  

	 	6.1.1	Termination without Cause. The Company may terminate the Executive’s employment without Cause at any time by the service of written notice of termination to
the Executive specifying an effective date of such termination not sooner than thirty (30) business days after the date of such notice. In the event of elimination of the Executive’s job position or a material reduction in duties and/or
reassignment of the Executive to a new position of materially less authority or a material reduction in Base Salary (collectively referred to as the “Good Reason Conditions”), the Executive may terminate this Agreement if the Executive
provides notice to the Company within ninety (90) days of the initial existence of the Good Reason Condition and allows a thirty (30) day period for the Company to cure the Good Reason Condition. If the Company fails to cure the Good
Reason Condition within the thirty (30) day cure period, the Executive may terminate his employment and it will be deemed to be a termination without Cause, provided, that the termination occurs within one hundred eighty (180) days of the
initial existence of the Good Reason Condition specified in the notice. For purposes of this Agreement, the provisions relating to the Good Reason Conditions shall be interpreted consistent with the requirements of Treasury Regulation

  
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Section 1.409A-1(n)(2). In the event the Executive is terminated without Cause, the Executive will receive as termination compensation within thirty (30) days of the Termination Date:
(a) payment of two hundred percent (200%) of the Executive’s then current Base Salary in a lump sum and (b) a lump sum payment of any PTO pay accrued but unused through the Termination Date (the sum of the amounts payable
pursuant to clauses (a) and (b) are hereafter referred to as “General Severance Benefits”); provided, however, that if such termination occurs within two years after a Change of Control (as defined below), in lieu of the General
Severance Benefits, the Executive will receive as termination compensation within thirty (30) days of the Termination Date in a lump sum payment an amount equal to (x) two hundred fifty percent (250%) of the sum of (i) the
Executive’s then current Base Salary and (ii) the most recent actual annual bonus (excluding signing bonuses) paid to the Executive during the twelve (12) calendar months preceding the Change of Control (or, if the Executive’s
most recent annual bonus was paid semi-annually, then the two most recent semi-annual bonuses paid to the Executive during the twelve (12) calendar months preceding the Change of Control)) and (y) any PTO pay accrued but unused through the
Termination Date (the sum of the amounts payable pursuant to clauses (x) and (y) are hereafter referred to as “Enhanced Severance Benefits”). The right to the foregoing termination compensation under clause (a) above or
clause (x) above, as applicable, is subject to the Executive’s execution, on or before 30 days following the Termination Date, of the Company’s severance agreement which will operate as a release of all legally waivable claims against
the Company and its Affiliates, and their respective partners, officers, directors, employees, agents and representatives, and the Executive’s compliance with all of the provisions of this Agreement, including all post-employment obligations.

 For purposes of this Agreement, “Change of Control” means, and shall be deemed to have occurred upon,
either of the following events: (a) any “person” or “group” within the meaning of those terms as used in Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934 (as amended), other than Global Infrastructure
Management, LLC or an Affiliate thereof or fund or investment vehicle managed thereby or The Williams Companies, Inc. or its Affiliates (a “Third Party”), shall become the direct or indirect beneficial owner, by way of merger,
consolidation, recapitalization, reorganization, purchase or otherwise, of more than 50% of the voting power of the voting securities of the Company; or (b) the sale or other disposition, including by way of liquidation, by Access Midstream
Partners, L.P. (the “MLP”) or the Company of all or substantially all of its assets, whether in a single 

  
 6 

 
or series of related transactions, to one or more Third Parties. Notwithstanding the foregoing, neither the acquisition by Global Infrastructure Management, LLC or an Affiliate thereof or fund or
investment vehicle managed thereby of additional voting power or voting securities held by The Williams Companies, Inc. or its Affiliates, nor the acquisition by The Williams Companies, Inc. or its Affiliates of additional voting power or voting
securities held by Global Infrastructure Management, LLC or an Affiliate thereof or fund or investment vehicle managed thereby shall constitute a “Change of Control” for purposes of clause (a) of the preceding sentence. Further, for
purposes of this Agreement, the following terms have the following respective meanings. “Affiliate” means, with respect to any Person, any other Person that directly or indirectly through one or more intermediaries controls, is controlled
by or is under common control with, the Person in question. The term “control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of
voting securities, by contract or otherwise and, for the avoidance of doubt, a Person shall be deemed to have control over another person at an ownership level of at least 50%, but control may be established at a lesser percentage ownership under
the appropriate circumstances. “Person” means an individual or a corporation, limited liability company, partnership, joint venture, trust, unincorporated organization, association, governmental agency or political subdivision thereof or
other entity. 
  

	 	6.1.2	Termination for Cause. The Company may terminate the employment of the Executive hereunder at any time for Cause (as hereinafter defined) (such a termination
being referred to in this Agreement as a “Termination For Cause”) by giving the Executive written notice of such termination, which shall take effect immediately upon the giving of such notice to the Executive. As used in this Agreement,
“Cause” means (a) the Executive’s breach or threatened breach of this Agreement; (b) the Executive’s neglect of duties or failure to act, other than by reason of disability or death; (c) the misappropriation,
fraudulent conduct, or acts of workplace dishonesty by the Executive with respect to the assets or operations of the Company or any of its Affiliates; (d) the Executive’s failure to comply with directives from superiors or written company
policies; (e) the Executive’s personal misconduct which injures the Company and/or reflects poorly on the Company’s or its Affiliate’s reputation; (f) the Executive’s failure to perform the Executive’s duties; or
(g) the conviction of the Executive for, or a plea of guilty or no contest to, a felony or any crime involving moral turpitude. In the event this Agreement is terminated for Cause, the Company will not have any obligation to provide any further
payments or benefits to the Executive after the Termination Date other than a lump sum payment within thirty (30) days of the Termination Date of any PTO pay accrued but unused through the Termination Date. 

  
 7 

	 	6.2	Termination by the Executive. The Executive may voluntarily terminate employment under this Agreement for any reason by the service of written notice of such
termination to the Company specifying an effective date of termination no sooner than thirty (30) days and no later than sixty (60) days after the date of such notice. The Company reserves the right to end the employment relationship at
any time after the date such notice is given to the Company and to pay the Executive through the Termination Date. 

  

	 	6.3	Incapacity of the Executive. If the Executive suffers from a physical or mental condition which in the reasonable judgment of the Board prevents the Executive in
whole or in part from performing the duties specified herein for a period of three (3) consecutive months, the Executive may be terminated. Although the termination may be deemed as a termination for Cause, the Executive will be entitled to
receive within thirty (30) days of the Termination Date (a) a payment of fifty-two (52) weeks of Base Salary in a lump sum; and (b) a lump sum payment of any PTO pay accrued but unused through the Termination Date.
Notwithstanding the foregoing, the amount payable under clause (a) above will be reduced by any benefits payable under any disability plans provided by the Company. The right to the foregoing compensation due under clause (a) above is
subject to the execution by the Executive or the Executive’s legal representative, on or before 30 days following the Termination Date, of the Company’s severance agreement which will operate as a release of all legally waivable claims
against the Company and its Affiliates, and their respective partners, officers, directors, employees, agents and representatives, and the Executive’s compliance with all of the provisions of this Agreement, including all post-employment
obligations. In applying this paragraph, the Company will comply with any applicable legal requirements, including the Americans with Disabilities Act. 

  

	 	6.4	Death of the Executive. If the Executive dies during the term of this Agreement, the Company may thereafter terminate this Agreement without compensation except
the Company will within sixty (60) days of the Executive’s death: (a) pay fifty-two (52) weeks of Base Salary in a single lump sum payment; and (b) pay a lump sum payment of any PTO pay accrued but unused through the
Termination Date. Amounts payable under this Section 6.4 shall be paid to the beneficiary designated on the Company’s universal beneficiary designation form in effect on the date of the Executive’s death. If the Executive fails to
designate a beneficiary or if such designation is ineffective, in whole or in part, any payment that would otherwise have been paid under this Section 6.4 shall be paid to the Executive’s estate. The right to the foregoing compensation due
under 

  
 8 

	 	
clause (a) above is subject to the execution by the beneficiary, or as applicable, the administrator of the Executive’s estate, within ninety (90) days of the Executive’s
death, of the Company’s severance agreement which will operate as a release of all legally waivable claims against the Company and its Affiliates, and their respective partners, officers, directors, employees, agents and representatives.

  

	 	6.5	Expiration. If this Agreement is not terminated pursuant to any of the preceding provisions of paragraph 6 or extended pursuant to paragraph 5 above or otherwise
extended by mutual written agreement of the parties prior to the Expiration Date, this Agreement and the Executive’s employment will end and the Company will have no further obligation to provide any further payments or benefits to the
Executive after the Expiration Date other than any vacation pay accrued through the Expiration Date. Notwithstanding anything contained herein, in no event shall a termination of the Executive’s employment by reason of the expiration of the
Employment Term or the Company’s election not to renew the Employment Term constitute a Good Reason Condition or a termination of the Executive’s employment by the Company without Cause. 

 

	 	6.6	Effect of Termination. The termination of this Agreement, when accompanied by the termination of the Executive’s employment with the Company, will terminate
all obligations of the Executive to render services on behalf of the Company from and after the Termination Date, provided that the Executive will maintain the confidentiality of all information acquired by the Executive during the term of the
Executive’s employment in accordance with Section 7 of this Agreement and the Executive shall comply with all other post employment requirements including, without limitation, Section 6.6 and Sections 7, 8, 9, 10, 11, 12 and 13.
Except as otherwise provided in Section 6 of this Agreement and payment of any PTO pay accrued but unused through the Termination Date, no accrued bonus, severance pay or other form of compensation will be payable by the Company to the
Executive by reason of the termination of this Agreement. All keys, entry cards, credit cards, files, records, financial information, Confidential Information, research results, test data, instructions, drawings, sketches, specifications, product
data sheets, products, books, DVDs, disks, memory devices, business plans, marketing plans, documents, correspondence, furniture, furnishings, equipment, supplies and other items relating to the Company or its Affiliates in the Executive’s
possession will remain the property of the Company or its Affiliate who provided such items, as applicable. Upon termination of employment, the Executive will have the right to retain and remove all personal property and effects which are owned by
the Executive and located in the offices of the Company or its Affiliates at a time determined by the Company. All such personal items will be removed from such offices no later than two (2) days after the Termination 

  
 9 

	 	
Date, and the Company is hereby authorized to discard any items remaining and to reassign the Executive’s office space after such date. Prior to the Termination Date, the Executive will
render such services to the Company as might be reasonably required to provide for the orderly termination of the Executive’s employment. Notwithstanding the foregoing and without discharging any obligations to pay compensation to the Executive
under this Agreement, after notice of the termination, the Company may request that the Executive not provide any other services to the Company and not enter the Company’s premises before or after the Termination Date. In the event that the
Executive separates employment with the Company, the Executive hereby grants consent to notification by the Company to the Executive’s new employer about the Executive’s rights and obligations under this Agreement. Upon such termination of
employment, the Executive further agrees to acknowledge compliance with this Agreement in a form reasonably provided by the Company. 

  

	7.	Confidentiality . The Executive recognizes that the nature of the Executive’s services are such that the Executive will have access to information which
constitutes trade secrets, is of a confidential nature, is of great value to the Company and/or is the foundation on which the business of the Company is predicated. The Executive also acknowledges that, during the course of employment, the
Executive may have personal contact and conduct business with the customers, suppliers and accounts of the Company. The Executive agrees not to disclose to any person other than authorized employees of the Company or the Company’s legal counsel
nor use for any purpose, other than the performance of this Agreement, any confidential information (“Confidential Information”). Confidential Information includes data or material (regardless of form) which is: (a) a trade secret (a
trade secret shall include any formula, pattern, device or compilation of information used by the Company in its business); (b) proprietary information or know-how provided, disclosed or delivered to the Executive by the Company, any officer,
director, employee, agent, attorney, accountant, consultant, or other person or entity employed by the Company in any capacity, any customer, borrower or business associate of the Company or any public authority having jurisdiction over the Company
of any business activity conducted by the Company; or (c) produced, developed, obtained or prepared by or on behalf of the Executive or the Company (whether or not such information was developed in the performance of this Agreement) with
respect to the Company or any assets oil and gas prospects, business activities, officers, directors, employees, borrowers or customers of the foregoing. The Executive acknowledges that the Executive will obtain unique benefits from employment and
the provisions contained in this Agreement are reasonably necessary to protect the Company’s legitimate business interests. On request by the Company, the Company will be entitled to the return of any Confidential Information in the possession
of the Executive. The Executive also agrees that the provisions of this Section 7 will survive the termination, expiration or cancellation of this Agreement for any reason. The Executive will deliver to the Company all originals and copies of
the documents or materials containing Confidential Information. For purposes of Sections 7, 8, 9, 10, 11 and 12 of this Agreement, the term “the Company” expressly includes the Company and any of its Affiliates. 

  
 10 

	8.	Non-Solicitation. The Executive agrees that during his/her employment hereunder, and for the one (1) year period (or, in the event of a termination of the
Executive’s employment due to the expiration of the Employment Term pursuant to Section 6.5 above, the six month period) immediately following the termination of the Executive’s employment, the Executive shall not solicit or contact
any established client or customer of the Company with a view to inducing or encouraging such established client or customer to discontinue or curtail any business relationship with the Company. The Executive further agrees that the Executive will
not request or advise any established clients, customers or suppliers of the Company to withdraw, curtail or cancel its business with the Company. Notwithstanding the foregoing, this Section 8 shall not preclude or restrict the Executive from
engaging in any such activities in connection with his performance of services for the Company, the MLP or their Affiliates or undertaken for the benefit of such persons (whether prior to, during, or after his employment with the Company), and the
Executive’s engaging in such activities shall not violate the terms of this Agreement. 

  

	9.	Non-Solicitation of Employees. The Executive covenants that during the term of employment and for the one (1) year period (or, in the event of a termination
of the Executive’s employment due to the expiration of the Employment Term pursuant to Section 6.5 above, the six month period) immediately following the termination of the Executive’s employment, the Executive will neither directly
nor indirectly induce nor attempt to induce any executive or employee of the Company to terminate his or her employment to go to work for any other company. Notwithstanding the foregoing, this paragraph 9 shall not preclude or restrict the Executive
from engaging, with the Company’s consent, in any such activities in connection with his performance of services for the Company, the MLP or their Affiliates or undertaken for the benefit of such persons (whether prior to, during, or after his
employment with the Company), and the Executive’s engaging in such activities with the Company’s consent shall not violate the terms of this Agreement. 

 

	10.	Reasonableness. The Company and the Executive have attempted to specify a reasonable period of time and reasonable restrictions to which this Agreement shall
apply. The Company and the Executive agree that if a court or administrative body should subsequently determine that the terms of this Agreement are greater than reasonably necessary to protect the Company’s interest, the Company agrees to
waive those terms which are found by a court or administrative body to be greater than reasonably necessary to protect the Company’s interest and to request that the court or administrative body reform this Agreement specifying a reasonable
period of time and such other reasonable restrictions as the court or administrative body deems necessary. 

  
 11 

	11.	Equitable Relief. The Executive acknowledges that the services to be rendered by the Executive are of a special, unique, unusual, extraordinary, and intellectual
character, which gives them a peculiar value, and the loss of which cannot reasonably or adequately be compensated in damages in an action at law; and that a breach by the Executive of any of the provisions contained in this Agreement will cause the
Company irreparable injury and damage. The Executive further acknowledges that the Executive possesses unique skills, knowledge and ability and that any material breach of the provisions of this Agreement would be extremely detrimental to the
Company. By reason thereof, the Executive agrees that the Company shall be entitled, in addition to any other remedies it may have under this Agreement or otherwise, to injunctive and other equitable relief to prevent or curtail any breach of this
Agreement by him/her. 

  

	12.	Intellectual Property and Proprietary Matters. The Executive expressly understands and agrees that any and all proprietary information, know-how, inventions,
trademarks, creative works and other intellectual property that is generated or conceived by or on behalf of the Executive during the term of this Agreement, whether generated or conceived during the Executive’s regular working hours or
otherwise, shall be the sole and exclusive property of the Company. Whenever requested by the Company (either during the term of this Agreement or thereafter), the Executive will assign or execute any and all applications, assignments and or other
instruments and do all things which the Company deems necessary or appropriate in order to permit the Company to: (a) assign and convey or otherwise make available to the Company the sole and exclusive right, title, and interest in and to said
improvements, inventions, discoveries, processes, know-how, applications, patents, copyrights, trade names or trademarks; or (b) apply for, obtain, maintain, enforce and defend patents, copyrights, trade names, or trademarks of the United
States or of foreign countries for said improvements, inventions, discoveries, processes or know-how. However, the improvements, inventions, discoveries, processes or know-how generated or conceived by the Executive and referred to above (except as
they may be included in the patents, copyrights or registered trade names or trademarks of the Company, or corporations, partnerships or other entities which may be affiliated with the Company) shall not be exclusive property of the Company at any
time after having been disclosed or revealed or have otherwise become available to the public or to a third party on a non-confidential basis other than by a breach of this Agreement, or after they have been independently developed or discussed
without a breach of this Agreement by a third party who has no obligation to the Company or its Affiliates. The foregoing will not prohibit any activities which are expressly permitted by the under paragraph 3 of this Agreement during the term of
this Agreement. 

  

	13.	 Arbitration. Any disputes, claims or controversies between the Company and the Executive including, but not limited to those arising out of or
related to this Agreement or out of the parties’ employment relationship, shall be settled by arbitration as provided herein. This agreement shall survive the termination or rescission of this Agreement. All arbitration shall be in accordance
with Rules of 

  
 12 

	 	
the American Arbitration Association, including discovery, and shall be undertaken pursuant to the Federal Arbitration Act. Arbitration will be held in Oklahoma City, Oklahoma unless the parties
mutually agree to another location. The decision of the arbitrator will be enforceable in any court of competent jurisdiction. The parties, however, agree that the Company shall be entitled to obtain injunctive or other equitable relief to enforce
the provisions of this Agreement in a court of competent jurisdiction. The parties further agree that this arbitration provision is not only applicable to the Company but its Affiliates, officers, directors, employees and related parties. The
Executive agrees that he shall have no right or authority for any dispute to be brought, heard or arbitrated as a class or collective action, or in a representative or a private attorney general capacity on behalf of a class of persons or the
general public. No class, collective or representative actions are thus allowed to be arbitrated. The Executive agrees that he must pursue any claims that he may have solely on an individual basis through arbitration. 

 

	14.	Miscellaneous. The parties further agree as follows: 

  

	 	14.1	Time. Time is of the essence of each provision of this Agreement. 

  

	 	14.2	Notices. Any notice, payment, demand or communication required or permitted to be given by any provision of this Agreement will be in writing and will be deemed
to have been given when delivered personally or by telefacsimile to the party designated to receive such notice, or on the date following the day sent by overnight courier, or on the third (3rd) business day after the same is sent by certified
mail, postage and charges prepaid, directed to the following address or to such other or additional addresses as any party might designate by written notice to the other party: 

To the Company: 

Access Midstream Partners GP, L.L.C. 
 6100 N. Western Ave. 
 Oklahoma City, OK 73118 

Attn: Cheri Shepard 
 Fax: (405) 849-3901 
 With a Copy to: 

Global Infrastructure Management, LLC 
 12 East 49th Street 
 38th Floor 

New York, New York 10017 
 Attn: Will Brilliant 
 Fax: (646) 282-1580 

  
 13 

 With a Copy to: 
 Global Infrastructure Management UK Limited 
 Cardinal Place, 80 Victoria Street

 London SW1E5JL 
 United Kingdom 
 Attn: Joseph Blum 

Fax: +44 207 798 0530 
 To the Executive: 
 J. Michael Stice at the last address on file in the
Company’s personnel files. 
  

	 	14.3	Assignment. Neither this Agreement nor any of the parties’ rights or obligations hereunder can be transferred or assigned without the prior written consent
of the other parties to this Agreement; provided, however, the Company may assign this Agreement to any Affiliate of the Company without the Executive’s consent as well as to any purchaser of the Company. 

 

	 	14.4	Construction. If any provision of this Agreement or the application thereof to any person or circumstances is determined, to any extent, to be invalid or
unenforceable, the remainder of this Agreement, or the application of such provision to persons or circumstances other than those as to which the same is held invalid or unenforceable, will not be affected thereby, and each term and provision of
this Agreement will be valid and enforceable to the fullest extent permitted by law. Except as provided for in Section 13, this Agreement is intended to be interpreted, construed and enforced in accordance with the laws of the State of
Oklahoma. 

  

	 	14.5	Entire Agreement. This Agreement, any documents executed in connection with this Agreement, any documents specifically referred to in this Agreement and the
Employment Policies Manual constitute the entire agreement between the parties hereto with respect to the subject matter herein contained, and no modification hereof will be effective unless made by a supplemental written agreement executed by all
of the parties hereto. Effective as of the date hereof, this Agreement replaces, terminates and supersedes all prior agreements and understandings between the Executive and the Company (or any predecessor thereof) regarding the subject matter
hereof. 

  

	 	14.6	Binding Effect. This Agreement will be binding on the parties and their respective successors, legal representatives and permitted assigns. In the event of a
merger, consolidation, combination, dissolution or liquidation of the Company, the performance of this Agreement will be assumed by any entity which succeeds to or is transferred the business of the Company as a result thereof, and the Executive
waives the consent requirement of Section 14.3 to effect such assumption. 

  
 14 

	 	14.7	Supersession. On execution of this Agreement by the Company and the Executive, the relationship between the Company and the Executive will be bound by the terms
of this Agreement, any documents executed in connection with this Agreement, any documents specifically referred to in this Agreement and the Employment Policies Manual. In the event of a conflict between the Employment Policies Manual and this
Agreement, this Agreement will control in all respects. 

  

	 	14.8	Third-Party Beneficiaries. The Company and each of its Affiliates are beneficiaries of all terms and provisions of this Agreement and entitled to all rights
hereunder. The Executive and the Company expressly intend that the MLP shall be an intended third party beneficiary hereof and shall have standing to enforce all of the provisions of this Agreement as if they were each a party hereto. However, for
the avoidance of doubt, subject to any assignment of this Agreement pursuant to Section 14.3, the right to terminate the Executive’s employment may be exercised only by the Company. 

 

	 	14.9	Section 409A. This Agreement is intended to be exempt from Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and
related U.S. Treasury regulations or official pronouncements (“Section 409A”) and any ambiguous provision will be construed in a manner that is compliant with such exemption; provided, however, if and to the extent that any compensation
payable pursuant to this Agreement is determined to be subject to Section 409A, this Agreement will be construed in a manner that will comply with Section 409A. Notwithstanding any provision to the contrary in this Agreement, if Executive
is deemed on his Termination Date to be a “specified employee” within the meaning of that term under Section 409A, then any payments and benefits under this Agreement that are subject to Section 409A and paid by reason of a
termination of employment shall be made or provided on the later of (a) the payment date set forth in this Agreement or (b) the date that is the earliest of (i) the expiration of the six-month period measured from the date of the
Executive’s termination of employment or (ii) the date of the Executive’s death (the “Delay Period”). Payments and benefits subject to the Delay Period shall be paid or provided to the Executive without interest for such
delay in payment. To the extent required to comply with Section 409A, references to a “resignation,” “termination,” “termination of employment” or like terms throughout this Agreement shall be interpreted
consistent with the meaning of “separation from service” as defined in Section 409A. 

[Signatures on following page] 

  
 15 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement effective the date first
above written. 
  

			
	ACCESS MIDSTREAM PARTNERS GP, L.L.C.,
	a Delaware limited liability company.
		
	By: 	 	 /s/ Regina L. Gregory

		 	 Regina L. Gregory
 (“the
Company”)

		
	By:	 	 /s/ J. Michael Stice

		 	J. Michael Stice, Individually,
		 	(“the Executive”)

  
 16

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