Document:

<PAGE>
                                                                   Exhibit 10.19

               AMENDMENT NO. 2 AND CONSENT TO THE CREDIT AGREEMENT
                    AMENDMENT NO. 1 TO THE DOMESTIC GUARANTEE
                            AND COLLATERAL AGREEMENT

                                                       Dated as of July __, 2005

            AMENDMENT NO. 2 AND CONSENT TO THE CREDIT AGREEMENT and AMENDMENT
NO. 1 TO THE DOMESTIC GUARANTEE AND COLLATERAL AGREEMENT (collectively, the
"Amendment") among D-R Interholding LLC, a Delaware limited liability company
("Holdings"), Dresser-Rand Group Inc., a Delaware corporation (the "Domestic
Borrower"), D-R Holdings (UK) Limited, a corporation organized under the laws of
England and Wales (the "UK Borrower"), D-R Holdings (France) S.A.S., a
corporation organized under the laws of France (the "French Borrower" and
together with the Domestic Borrower and the UK Borrower, the "Borrowers") and
each of the Lenders (as defined in the Credit Agreement referred to below)
listed on the signature pages hereto.

            PRELIMINARY STATEMENTS:

            (1) Holdings and the Borrowers have entered into that certain Credit
Agreement, dated as of October 29, 2004 (as amended by Amendment No. 1 and
Consent to the Credit Agreement, dated as of January 4, 2005 and as modified by
the Consent and Waiver Under the Credit Agreement dated as of May 13, 2005, the
"Credit Agreement") with the Lenders party thereto, Citicorp North America, Inc.
("CNAI"), as Administrative Agent (in such capacity, the "Administrative
Agent"), Morgan Stanley Senior Funding, Inc. ("Morgan Stanley") and UBS
Securities LLC ("UBS"), as Co-Syndication Agents, Citigroup Global Markets Inc.,
Morgan Stanley and UBS, as Joint Lead Arrangers and Joint Book Managers, and
Bear Stearns Corporate Lending Inc. and Natexis Banques Populaires, as
Co-Documentation Agents. Capitalized terms not otherwise defined in this
Amendment have the same meanings as specified therefor in the Credit Agreement.

            (2) Pursuant to the Credit Agreement, the Domestic Loan Parties have
entered into a Domestic Guarantee and Collateral Agreement, dated October 29,
2004, with CNAI, as Collateral Agent.

            (3) The Domestic Borrower intends to consummate an initial public
offering of its Equity Interests and, in connection therewith, Holdings, the
Borrowers and the Lenders have agreed, on the terms and conditions stated below,
to amend and modify the Loan Documents as set forth herein.

            (4) The French Borrower intends to refinance outstanding Tranche B
Euro Term Loans under the Credit Agreement with a new class of Tranche B1 Euro
Term Loans under the Credit Agreement (the "Tranche B1 Euro Term Loans") having
identical terms with, and having the same rights and obligations under the Loan
Documents as and in the same aggregate principal amounts as, the Tranche B Euro
Term Loans, as set forth in the Loan Documents, except as such terms are amended
hereby.

            (5) Each Tranche B Euro Term Lender who executes and delivers this
Amendment shall be deemed, upon the occurrence of the Repricing Effective Date
(as defined

<PAGE>
                                       2

herein), to have exchanged its Tranche B Euro Term Loan Commitment and Tranche B
Euro Term Loan (which Tranche B Euro Term Loan Commitment and Tranche B Euro
Term Loan shall thereafter be deemed terminated and deemed repaid and refinanced
in full) for a Tranche B1 Euro Term Loan Commitment (a "Tranche B1 Euro Term
Loan Commitment") in the same aggregate principal amount as such Tranche B Euro
Term Lender's Tranche B Euro Term Loan Commitment, as so terminated, and a
Tranche B1 Euro Term Loan in the same aggregate principal amount as such Tranche
B Euro Term Lender's Tranche B Euro Term Loan, as so repaid, and such Tranche B
Euro Term Lender shall thereafter become a Tranche B1 Euro Term Lender (each, a
"Tranche B1 Euro Term Lender").

            (6) Each Person who executes and delivers this Amendment as an
additional Tranche B1 Euro Term Lender (each, an "Additional Tranche B1 Euro
Term Lender") will become a party to the Credit Agreement (as amended by this
Amendment) and make, on the Repricing Effective Date (as defined herein), a
Tranche B1 Euro Term Loan (each, an "Additional Tranche B1 Euro Term Loan") to
the French Borrower, the proceeds of which will be used by the French Borrower
to refinance in full the outstanding principal amount of Tranche B Euro Term
Loans of Tranche B Euro Term Lenders, if any, who do not execute and deliver
this Amendment, it being understood that, prior to the Repricing Effective Date
(as defined herein), an Additional Tranche B1 Euro Term Lender may be a Tranche
B Euro Term Lender.

            (7) The French Borrower shall pay to each Tranche B Euro Term Lender
all accrued and unpaid interest on its Tranche B Euro Term Loan to but excluding
the Repricing Effective Date on the Repricing Effective Date (as defined
herein).

            SECTION 1. Amendments to the Credit Agreement. The Credit Agreement
is, effective as of the date on which the applicable conditions precedent set
forth in Section 4 have been satisfied, hereby amended as follows:

            (a) Section 1.01 is amended as follows:

                  (i) The definition of "Applicable Margin" is amended by
      deleting clause (ii) thereof in its entirety and inserting the following
      new clause (ii) in replacement therefor:

                  "(ii) for any day with respect to any Eurocurrency Loan that
      is a Tranche B1 Euro Term Loan, 2.25% and"

                  (ii) The definition of "Change in Control" is amended by (x)
      adding immediately after the words "at any time" in the first line of
      clause (a) thereof the words "prior to an initial public offering of
      Equity Interests of the Domestic Borrower", (y) replacing each reference
      in clauses (b) and (c) thereof to "Holdings" with a reference to "the
      Domestic Borrower" and (z) inserting immediately prior to subclause (y) in
      clause (c) thereof the word "and" and deleting in its entirety subclause
      (z) thereof (together with the corresponding reference to "such
      Intermediate Holding Company" in lines 10 and 11 of clause (c) thereof,
      with any other conforming changes being deemed made as appropriate).

<PAGE>
                                       3

                  (iii) The definition of "Commitments" is amended in full to
      read as follows:

                  " `Commitments' shall mean (a) with respect to any Lender,
            such Lender's Revolving Facility Commitment, Tranche B Dollar Term
            Loan Commitment, Tranche B1 Euro Term Loan Commitment and Additional
            Tranche B1 Euro Term Loan Commitment and (b) with respect to any
            Swingline Lender, its Swingline Commitment, as applicable."

                  (iv) The definition of "Domestic Loan Parties" is amended in
      full to read as follows:

                  " `Domestic Loan Parties' shall mean (a) prior to the Holdings
            Covenant Release Date, Holdings, the Domestic Borrower and each
            Domestic Subsidiary Loan Party and (b) upon and after the Holdings
            Covenant Release Date, the Domestic Borrower and each Domestic
            Subsidiary Loan Party."

                  (v) The definition of "Term Loan" is amended in full to read
      as follows:

                  " `Term Loan' shall mean any Tranche B Dollar Term Loan and
            any Tranche B1 Euro Term Loan."

                  (vi) The definition of "Tranche B Euro Facility" is amended in
      full to read as follows:

                  " `Tranche B1 Euro Facility' shall mean the Tranche B1 Euro
            Term Loan Commitments and the Tranche B1 Euro Term Loans made
            hereunder."

                  (vii) The definition of "Tranche B Euro Installment Date" is
      amended in full to read as follows:

                  " `Tranche B1 Euro Installment Date' shall have the meaning
            assigned to such term in Section 2.10(a)(ii)."

                  (viii) The definition of "Tranche B Euro Maturity Date" is
      amended in full to read as follows:

                  " `Tranche B1 Euro Maturity Date' shall mean October 29,
            2011."

                  (ix) The definition of "Tranche B Euro Term Borrowing" is
      amended in full to read as follows:

                  " `Tranche B1 Euro Term Borrowing' shall mean a Borrowing
            comprised of Tranche B1 Euro Term Loans."

                  (x) The definition of "Tranche B Euro Term Lender" is amended
      in full to read as follows:

<PAGE>
                                       4

                  " `Tranche B1 Euro Term Lender' shall mean, collectively, (a)
            each Tranche B Euro Term Lender that executes and delivers Amendment
            No. 2 on or prior to the Amendment No. 2 Effective Date and (b) each
            Additional Tranche B1 Euro Term Lender."

                  (xi) The definition of "Tranche B Euro Term Loan Commitment"
      is amended in full to read as follows:

                  " `Tranche B1 Euro Term Loan Commitment' shall mean,
            collectively, (a) with respect to each Tranche B Euro Term Lender
            that executes and delivers Amendment No. 2 on or prior to the
            Amendment No. 2 Effective Date, the amount set forth next to the
            name of such Lender on the Repricing Effective Date in the Register
            maintained by the Administrative Agent pursuant to Section 9.04(b)
            and (b) with respect to each Additional Tranche B1 Euro Term Lender
            that is not a Tranche B Euro Term Lender, its Additional Tranche B1
            Euro Term Loan Commitment or, in each case, if such Lender has
            entered into one or more Assignment and Acceptances, set forth for
            such Lender in the Register maintained by the Administrative Agent
            pursuant to Section 9.04(b)."

                  (xii) The definition of "Tranche B Euro Term Loans" is amended
      in full to read as follows:

                  " `Tranche B1 Euro Term Loans' shall mean the term loans
            denominated in Euros made by the Lenders to the French Borrower
            pursuant to Section 2.01(d) or (e) or Section 2.21 (including New
            Tranche B1 Term Loans denominated in Euros)."

                  (xiii) The definition of "Tranche B Term Borrowings" is
      amended in full to read as follows:

                  " `Tranche B Term Borrowings' shall mean Tranche B Dollar Term
            Borrowings and Tranche B1 Euro Term Borrowings."

                  (xiv) The definition of "Tranche B Term Loans" is amended in
      full to read as follows:

                  " `Tranche B Term Loans' shall mean Tranche B Dollar Term
            Loans and Tranche B1 Euro Term Loans."

                  (xv) The following new definitions are inserted in the
      appropriate alphabetical order:

                  "Additional Tranche B1 Euro Term Lender" shall mean a Lender
            with an Additional Tranche B1 Euro Term Loan Commitment to make
            Additional Tranche B1 Euro Term Loans to the French Borrower on the
            Repricing Effective Date, it being understood that an Additional
            Tranche B1 Euro Term Lender may be a Tranche B Euro Term Lender.

<PAGE>
                                       5

                  "Additional Tranche B1 Euro Term Loan Commitment" shall mean,
            with respect to an Additional Tranche B1 Euro Term Lender, the
            commitment of such Additional Tranche B1 Euro Term Lender to make
            Additional Tranche B1 Euro Term Loans on the Repricing Effective
            Date, in an amount set forth next to the name of such Additional
            Tranche B1 Euro Term Lender in the Register on the Repricing
            Effective Date. The aggregate amount of the Additional Tranche B1
            Euro Term Loan Commitments shall equal the outstanding principal
            amount of Tranche B Euro Term Loans of Tranche B Euro Term Lenders
            that do not execute and deliver Amendment No. 2 on or prior to the
            Amendment No. 2 Effective Date.

                  "Additional Tranche B1 Euro Term Loan" shall mean a term loan
            or term loans denominated in Euros made by the Additional Tranche B1
            Euro Term Lenders on the Repricing Effective Date to the French
            Borrower pursuant to Section 2.01(e).

                  "Amendment No. 2" shall mean Amendment No. 2 and Consent to
            this Agreement, dated as of July __, 2005, among the Borrowers and
            the Lenders party thereto.

                  "Amendment No. 2 Effective Date" shall have the meaning
            specified in Section 4(a) of Amendment No. 2.

                  "Holdings Covenant Release Date" shall mean the date on which
            the Domestic Borrower's registration statement on Form S-1 shall
            have been declared effective by the Securities and Exchange
            Commission.

                  "Repricing Effective Date" shall have the meaning specified in
            Section 4(b) of Amendment No. 2.

                  "Tranche B Euro Term Lender" shall have the meaning specified
            in Section 1.01 of this Agreement as in effect prior to the
            Repricing Effective Date.

                  "Tranche B Euro Term Loan Commitment" shall have the meaning
            specified in Section 1.01 of this Agreement as in effect prior to
            the Repricing Effective Date.

                  "Tranche B Euro Term Loans" shall have the meaning specified
            in Section 1.01 of this Agreement as in effect prior to the
            Repricing Effective Date.

            (b) Section 2.01 is amended by (i) deleting the introductory clause
"Subject to the terms and conditions set forth herein, each Lender agrees", (ii)
inserting the words "Subject to the terms and conditions set forth herein, each
Lender agrees" at the beginning of each of paragraph (a) and paragraph (b)
thereof, (iii) inserting the paragraph heading "(c)" immediately before the last
sentence thereof, and (iv) inserting the following new paragraphs (d), (e) and
(f):

                  "(d) Subject to the terms and conditions set forth herein,
            each Tranche B Euro Term Lender with a Tranche B1 Euro Term Loan
            Commitment

<PAGE>
                                       6

            severally agrees to exchange its Tranche B Euro Term Loan for a like
            principal amount of Tranche B1 Euro Term Loans on the Repricing
            Effective Date, and from and after the Repricing Effective Date such
            Tranche B Euro Term Loan shall be deemed refinanced in full and such
            Tranche B1 Euro Term Loans shall be deemed made hereunder. Amounts
            borrowed as Tranche B1 Euro Term Loans (whether pursuant to this
            paragraph or paragraph (e) below) which are repaid or prepaid by the
            French Borrower may not be reborrowed. The Tranche B1 Euro Term Loan
            Commitments shall expire concurrently with the making of the Tranche
            B1 Euro Term Loans (whether pursuant to this paragraph or paragraph
            (e) below) on the Repricing Effective Date.

                  "(e) Subject to the terms and conditions set forth herein,
            each Additional Tranche B1 Euro Term Lender severally agrees to make
            Additional Tranche B1 Euro Term Loans to the French Borrower on the
            Repricing Effective Date in a principal amount not to exceed its
            Additional Tranche B1 Euro Term Loan Commitment on the Repricing
            Effective Date. The French Borrower shall refinance all Tranche B
            Euro Term Loans of Tranche B Euro Term Lenders that do not execute
            and deliver Amendment No. 2 on or prior to the Amendment No. 2
            Effective Date with the gross proceeds of the Additional Tranche B1
            Euro Term Loans.

                  "(f) On the Repricing Effective Date, the French Borrower
            shall pay all accrued and unpaid interest on the Tranche B Euro Term
            Loans to the Tranche B Euro Term Lenders; provided, however, that
            the existing Interest Periods of the Tranche B Euro Term Loans prior
            to the Repricing Effective Date shall continue with respect to all
            Tranche B1 Euro Term Loans on and after the Repricing Effective Date
            and shall accrue interest at the Applicable Margin in effect on and
            after the Repricing Effective Date (it being understood that the
            foregoing proviso shall not prejudice the rights of Tranche B Euro
            Term Lenders that do not execute and deliver Amendment No. 2 on or
            prior to the Amendment No. 2 Effective Date or Additional Tranche B1
            Euro Term Lenders to seek compensation pursuant to Section 2.16)."

            (c) Section 2.01(b) is further amended by deleting the figure
"U.S.$200 million" in clause (iii) thereof and inserting "U.S.$220 million" in
replacement therefor.

            (d) Section 2.02(c) is amended by deleting "three (3)" in the final
proviso thereof and inserting "six (6)" in replacement therefor.

            (e) Section 2.05(b) is amended by deleting the figure "U.S.$200
million" in clause (iii)(A) thereof and inserting "U.S.$220 million" in
replacement therefor.

            (f) Section 2.05(c) is amended by (i) inserting "(i)" immediately
after the words "Expiration Date." at the beginning of paragraph (c) thereof and
(ii) inserting the following new clause (ii) at the end of paragraph (c)
thereof:

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                                       7

                  "(ii) Notwithstanding the foregoing, any Borrower may request
      the issuance of a Letter of Credit that expires at or prior to the close
      of business on the date that is five (5) Business Days prior to the
      Revolving Facility Maturity Date; provided that the Revolving L/C Exposure
      in respect of Letters of Credit issued pursuant to this Section
      2.05(c)(ii) shall not exceed U.S.$25 million at any one time outstanding."

            (g) Section 6.01 is amended by deleting the figure "U.S.$40 million"
in paragraph (p) thereof and inserting the figure "U.S.$60 million" in
replacement therefor.

            (h) Section 6.01 is further amended by (i) deleting the word "and"
at the end of paragraph (t) thereof, (ii) deleting the period at the end of
paragraph (u) thereof and inserting a semicolon in replacement therefor, (iii)
deleting the period at the end of paragraph (v) thereof and inserting "; and" in
replacement therefor and (iv) inserting the following new paragraph (x):

                  "(x) other unsecured Indebtedness of the Domestic Borrower and
      its subsidiaries in an aggregate amount not to exceed U.S.$100 million, if
      the Leverage Ratio is less than 3.50 to 1.00. For purposes of determining
      whether Indebtedness is permitted to be incurred, created, assumed or
      exist pursuant to this paragraph (x), the Leverage Ratio shall be measured
      at the time of the incurrence, creation or assumption of such
      Indebtedness, after giving effect to the incurrence thereof and the
      application of the proceeds of such Indebtedness, calculated on a pro
      forma basis as of the last day of the most recently ended fiscal quarter
      in respect of which financial statements have been delivered pursuant to
      Section 5.04."

            (i) Section 6.04 is amended by (i) deleting the period at the end of
paragraph (s) thereof and inserting "; and" in replacement therefor and (ii)
inserting the following new paragraph (t) at the end thereof:

                  "(t) the Investment more fully described on Schedule 6.04(t),
      in an aggregate amount, which shall be deemed to include the principal
      amount of Indebtedness that is assumed pursuant to Section 6.01 in
      connection with such Investment, not to exceed U.S.$65 million."

      (j) Section 6.05 is amended by deleting clause (i) of the last sentence
thereof in its entirety and inserting following new clause (i) in replacement
therefor:

                  "(i)(A) prior to the Holdings Covenant Release Date, Holdings
      shall at all times own, directly or indirectly, at least 85% of the Equity
      Interests of each Borrower and (B) upon and after the Holdings Covenant
      Release Date, the Domestic Borrower shall at all times own, directly or
      indirectly, at least 85% of the Equity Interests of each other Borrower,
      in each case, free and clear of any and Liens other than the Liens created
      by the Security Documents,"

            (k) Section 6.06 is amended by deleting the figure "U.S.$4.0
million" in paragraph (c) thereof and inserting the figure "U.S.$15.0 million"
in replacement therefor.

            (l) Section 6.06 is further amended by (i) deleting the word "and"
at the end of paragraph (i) thereof, (ii) deleting the period at the end of
paragraph (j) thereof and inserting

<PAGE>
                                       8

"; and" in replacement therefor and (iii) adding the following new paragraph (k)
at the end thereof:

                  "(k) the Domestic Borrower may declare and pay dividends in an
      amount equal to the net cash proceeds of any initial public offering of
      the Equity Interests of the Domestic Borrower less the aggregate amount of
      such net cash proceeds applied to redeem the Senior Subordinated Notes
      pursuant to, and as permitted by, Section 6.09(b)."

            (m) Section 6.09(b)(i) is amended in its entirety to read as
follows:

                  "(i) Make, or agree or offer to pay or make, directly or
      indirectly, any payment or other distribution (whether in cash, securities
      or other property) of or in respect of principal of or interest on the
      Senior Subordinated Notes or any Permitted Subordinated Debt Securities,
      or any payment or other distribution (whether in cash, securities or other
      property), including any sinking fund or similar deposit, on account of
      the purchase, redemption, retirement, acquisition, cancellation or
      termination of the Senior Subordinated Notes or any Permitted Subordinated
      Debt Securities (except for Refinancings permitted by Section 6.01(l)),
      except for (A) payments of regularly scheduled interest, (B) with respect
      to Permitted Subordinated Debt Securities, payments made solely with the
      proceeds from the issuance of Equity Interests and (C) with respect to the
      Senior Subordinated Notes, (x) payments made solely with the net cash
      proceeds of an initial public offering of the Equity Interests of the
      Domestic Borrower for the purpose of redeeming Senior Subordinated Notes
      in accordance with the Senior Subordinated Notes Indenture, in an
      aggregate amount not to exceed U.S.$100 million and (y) so long as no
      Default or Event of Default has occurred and is continuing or would result
      therefrom on and after the Repricing Effective Date, additional purchases
      and redemptions of Senior Subordinated Notes (I) in an amount not to
      exceed U.S.$50 million plus (II) an amount equal to U.S.$100 million less
      the aggregate amount of any purchases and redemptions made pursuant to
      clause (x) above; provided that, after giving effect to any such
      additional redemptions pursuant to this clause (y), the Leverage Ratio
      shall be less than 3.00 to 1.00 (in the case of purchases and redemptions
      made as permitted under clause (y)(I)), or 3.50 to 1.00 (in the case of
      purchases and redemptions made as permitted under clause (y)(II)), as
      applicable, in each case calculated on a pro forma basis as of the last
      day of the most recently ended fiscal quarter in respect of which
      financial statements have been delivered pursuant to Section 5.04; or"

            (n) Section 6.10(a) is amended by deleting the chart set forth
therein and replacing it in its entirety with the following:

<TABLE>
<CAPTION>
Year                             Amount
----                             ------
<S>                              <C>
2005                             $30,000,000
2006                             $30,000,000
2007                             $30,000,000
2008                             $30,000,000
</TABLE>

<PAGE>
                                       9

            (o) Section 7.03 is amended by deleting the words ", and, in each
case, to contribute any such cash to the capital of the Domestic Borrower"
immediately before the parenthetical "(collectively, the `Cure Right')".

            (p) Article VII is further amended by inserting the following new
Section 7.04 at the end thereof:

                  "SECTION 7.04. Holdings Covenant Release. Upon the occurrence
      of the Holdings Covenant Release Date:

                  (a) all of the obligations of Holdings under each of the Loan
      Documents shall automatically terminate and, thereafter, any failure on
      the part of Holdings to comply with those obligations will not constitute
      a Default or Event of Default;

                  (b) except as specifically amended elsewhere in Amendment No.
      2 and Consent to the Credit Agreement or as set forth in clause (c) or (d)
      of this Section 7.04, each reference in Article I to "Holdings", "Holdings
      and the Subsidiaries", "Holdings or any Subsidiary" or "Subsidiary of
      Holdings" shall be deemed to be a reference to "the Domestic Borrower",
      "the Domestic Borrower and the Subsidiaries", "the Domestic Borrower or
      any Subsidiary" or "Subsidiary of the Domestic Borrower", as applicable;

                  (c) each reference to "Holdings" in the definition of "Capital
      Expenditures", "Holdings", and "Holdings LLC Agreement" shall remain
      unchanged;

                  (d) each reference to "Holdings" in the definition of
      "Acquisition Agreement Payment", "Collateral and Guarantee Requirement"
      (other than the second reference thereto in clause (f) thereof, which
      shall be amended to be a reference to the "Domestic Borrower"), "Domestic
      Collateral Agreement", "ERISA Affiliate", "ERISA Event", "Excess Cash
      Flow", "Interest Expense", "Management Group", "Multiemployer Plan", the
      last sentence of "Net Proceeds", "Permitted Holder", "Plan", "Projections"
      and in Section 1.03 shall be deleted (with any conforming changes being
      deemed made as appropriate);

                  (e) (i) the obligation of Holdings to make representations and
      warranties under Article III and the Collateral Agreements shall
      automatically terminate, (ii) each reference to "Holdings" in Article III
      (other than each such reference in Sections 3.05(b), 3.07(g), 3.07(h),
      3.14(b), 3.15(iv), 3.15(v), 3.15(vi), 3.15(vii), 3.18 and the last
      sentence of Section 3.15) shall be deleted (with any conforming changes
      being deemed made as appropriate) and (iii) each reference to "Holdings"
      in Sections 3.07(g), 3.07(h), 3.14(b), 3.15(iv), 3.15(v), 3.15(vi),
      3.15(vii), 3.18 and the last sentence of Section 3.15 shall be amended to
      be a reference to "the Domestic Borrower" (with any conforming changes
      being deemed made as appropriate);

<PAGE>
                                       10

                  (f) (i) each reference to "Holdings" or "Holding" in Article V
      (other than each such reference in Sections 5.01, 5.04(f), 5.10(c),
      5.10(f), 5.11 and 5.14) shall be deleted (with any conforming changes
      being deemed made as appropriate) and (ii) each reference to "Holdings" in
      Sections 5.01, 5.04(f), 5.10(c), 5.10(f), 5.11 and 5.14 shall be amended
      to be a reference to "the Domestic Borrower" (with any conforming changes
      being deemed made as appropriate);

                  (g) (i) each reference to "Holdings" or "Holding" in Article
      VI (other than each such reference in the last sentence of Section 6.01,
      the second reference to "Holdings" in Section 6.05(k), Section 6.06(h),
      Section 6.07(b)(ix) and Section 6.09(a)) shall be amended to be a
      reference to "the Domestic Borrower" (with any conforming changes being
      deemed made as appropriate), (ii) the last sentence of Section 6.01 is
      deleted in its entirety, (iii) clause (b) of Section 6.08 is deleted in
      its entirety and (iv) each reference to "Holdings" in Sections 6.06(h),
      6.07(b)(ix) and 6.09(a), as well as the second reference to "Holdings" in
      Section 6.05(k) shall be deleted (with any conforming changes being deemed
      made as appropriate);

                  (h) (i) each reference to "Holdings" in Article VII (other
      than the third reference to "Holdings" in Section 7.01(m) and Section
      7.03) shall be deleted (with any conforming changes being deemed made as
      appropriate) and (ii) each reference to "Holdings" in Section 7.03 and the
      third reference to "Holdings" in Section 7.01(m) shall be amended to be a
      reference to "the Domestic Borrower" (with any conforming changes being
      deemed made as appropriate); and

                  (i) (i) each reference to "Holdings" in Sections 9.08 and 9.15
      shall be deleted (with any conforming changes being deemed made as
      appropriate), (ii) each reference to "Holdings" in Section 9.18 (other
      than the third reference to "Holdings" therein) shall be deleted (with any
      conforming changes being deemed made as appropriate) and (iii) the third
      reference to "Holdings" in Section 9.18 shall be amended to be a reference
      to "the Domestic Borrower".

            (q) Upon the Repricing Effective Date, the Tranche B1 Euro Term
Loans shall have the same terms, rights, and obligations as the Tranche B Euro
Term Loans as set forth in the Loan Documents, except as modified by this
Amendment, and all references to "Tranche B Euro Facility", "Tranche B Euro
Installment Date", "Tranche B Euro Maturity Date", "Tranche B Euro Term
Borrowing", Tranche B Euro Term Lender", "Tranche B Euro Term Loan Commitment"
and "Tranche B Euro Term Loans" in the Loan Documents (other than those
references in the amendments to the Credit Agreement made hereby) shall be
deemed to be references to "Tranche B1 Euro Facility", "Tranche B1 Euro
Installment Date", "Tranche B1 Euro Maturity Date", "Tranche B1 Euro Term
Borrowing", Tranche B1 Euro Term Lender", "Tranche B1 Euro Term Loan
Commitment", respectively.

<PAGE>
                                       11

            SECTION 2. Amendments to the Domestic Guarantee and Collateral
Agreement. The Domestic Guarantee and Collateral Agreement is, effective as of
the date on which the conditions precedent set forth in Section 4 have been
satisfied, hereby amended as follows:

            (a) The definition of "Guarantors" is amended in full to read as
follows:

                  " `Guarantors' shall mean (a) prior to the Holdings Covenant
            Release Date, Holdings, the Domestic Borrower and each Domestic
            Subsidiary Loan Party and (b) upon and after the Holdings Covenant
            Release Date, the Domestic Borrower and each Domestic Subsidiary
            Loan Party."

            (b) The Domestic Guarantee and Collateral Agreement is further
amended by (i) deleting the second reference to Holdings in Section 3.01 and
(ii) by replacing each reference to "Holdings" in Sections 3.03(b), 4.01(a) and
7.14(b) and the first reference to "Holdings" in Section 3.01 with a reference
to "the Domestic Borrower" (in each case, with any conforming changes being
deemed made as appropriate).

            SECTION 3. Consent. Effective as of the date hereof and subject to
the satisfaction of the conditions precedent set forth in Section 4(a), each
Lender party hereto hereby consents to the automatic release of Holdings from
its obligations under the Domestic Guarantee and Collateral Agreement upon the
occurrence of the Holdings Covenant Release Date. Upon the occurrence of the
Holdings Covenant Release Date, all security interests and other liens granted
by Holdings in favor of the Secured Parties in the Collateral of Holdings
(including, without limitation, the pledge of the shares of the Domestic
Borrower) shall be released, and the Collateral Agent shall execute and deliver
to Holdings, at Holdings' expense, all documents that Holdings shall reasonably
request to evidence such release and shall assist Holdings in making any filing
in connection therewith.

            SECTION 4. Conditions of Effectiveness. (a) The amendments set forth
in Sections 1(a)(ii) and (iv), 1(i), 1(l), 1(j), 1(m), 1(p) and 2(a) of this
Amendment, the amendment in Section 1(a)(xv) of this Amendment inserting the
definitions of "Holdings Covenant Release Date" and "Repricing Effective Date"
and the consent set forth in Section 3 of this Amendment shall become effective
as of the date when, and only when, (the "Amendment No. 2 Effective Date") the
Administrative Agent shall have received counterparts of this Amendment executed
by Holdings, each of the Borrowers and each of the Lenders or, as to any of such
Lenders, advice satisfactory to the Administrative Agent that such Lender has
executed this Amendment, and the Administrative Agent shall have additionally
received certified copies of all documents evidencing any necessary corporate
action and governmental approvals, if any, with respect to this Amendment, the
consent attached hereto (the "Consent") and the matters contemplated hereby and
thereby.

            (b) Each other amendment set forth in Sections 1 and 2 of this
Amendment shall become effective as of the date when, and only when, (the
"Repricing Effective Date") each of the following conditions precedent have been
satisfied:

<PAGE>
                                       12

                  (i) Amendment No. 2 Effective Date. The Amendment No. 2
      Effective Date shall have occurred.

                  (ii) Consummation of IPO. The initial public offering of
      Equity Interests of the Domestic Borrower shall have been consummated.

                  (iii) Borrowing Request. The French Borrower shall have
      provided the Administrative Agent with a Borrowing Request in accordance
      with the requirements of Section 2.03 of the Credit Agreement prior to the
      Repricing Effective Date (except that the three Business Day notice
      requirement is hereby waived) with respect to the borrowing of the Tranche
      B1 Euro Term Loans on the Repricing Effective Date.

                  (iv) Evidence of Indebtedness. Each Tranche B1 Euro Term
      Lender shall have received, if requested, one or more promissory notes
      payable to the order of such Lender duly executed by the French Borrower
      in substantially the form of Exhibit L-2 to the Credit Agreement, as
      modified by this Amendment, evidencing such Lender's Tranche B1 Euro Term
      Loan.

                  (v) Interest, etc. Simultaneously with the making of the
      Tranche B1 Euro Term Loans, the French Borrower shall have paid to all the
      Tranche B Euro Term Lenders all accrued and unpaid interest on the Tranche
      B Euro Term Loans to the Repricing Effective Date plus any loss or expense
      pursuant to Section 2.16 of the Credit Agreement.

            SECTION 5. Representations and Warranties of Holdings and the
Borrowers. Each of Holdings and the Borrowers represents and warrants as
follows:

            (a) The execution, delivery and performance by Holdings and each of
the Borrowers of this Amendment and the performance by each of the Borrowers of
the Credit Agreement, as amended hereby, have been duly authorized by all
necessary corporate action.

            (b) This Amendment has been duly executed and delivered by Holdings
and each of the Borrowers. This Amendment and the Credit Agreement, as amended
hereby, constitute the legal, valid and binding obligations of each of the
Borrowers, enforceable against each of the Borrowers in accordance with their
respective terms, subject to the effect of any applicable bankruptcy,
insolvency, reorganization, moratorium or similar law affecting creditors'
rights generally, and subject to the effects of general principles of equity
(regardless whether considered in a proceeding in equity or at law).

            SECTION 6. Reference to and Effect on the Credit Agreement and the
other Loan Documents. (a) On and after the effectiveness of this Amendment, each
reference in the Credit Agreement to "this Agreement", "hereunder", "hereof" or
words of like import referring to the Credit Agreement, and each reference in
the Notes and each of the other Loan Documents to "the Credit Agreement",
"thereunder", "thereof" or words of like import referring to the Credit
Agreement, shall mean and be a reference to the Credit Agreement, as amended by
this Amendment.

<PAGE>
                                       13

            (b) The Credit Agreement, the Notes and each of the other Loan
Documents, as specifically amended by this Amendment, are and shall continue to
be in full force and effect and are hereby in all respects ratified and
confirmed. Without limiting the generality of the foregoing, the Collateral
Documents and all of the Collateral described thereof do and shall continue to
secure the payment of all Obligations of the Loan Parties under the Loan
Documents.

            The execution, delivery and effectiveness of this Amendment shall
not, except as expressly provided herein, operate as a waiver of any right,
power or remedy of any Lender or Agent under any of the Loan Documents, nor
constitute a waiver of any provision of any of the Loan Documents.

            SECTION 7. Execution in Counterparts. This Amendment may be executed
in any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original
and all of which taken together shall constitute but one and the same agreement.
Delivery of an executed counterpart of a signature page to this Amendment by
telecopier shall be effective as delivery of a manually executed counterpart of
this Amendment.

            SECTION 8. Governing Law. This Amendment shall be governed by, and
construed in accordance with, the laws of the State of New York.

                [Remainder of this page intentionally left blank]

<PAGE>

            IN WITNESS WHEREOF, the parties hereto have caused this Amendment to
be executed by their respective officers thereunto duly authorized, as of the
date first above written.

                                          D-R INTERHOLDING, LLC,
                                              as Holdings and as a Guarantor and
                                              Pledgor (in each capacity)

                                          By:
                                              ----------------------------------
                                              Name:
                                              Title:

                                          DRESSER-RAND GROUP INC., as the
                                              Domestic Borrower and as a
                                              Guarantor and Pledgor (in each
                                              capacity)

                                          By:
                                              ----------------------------------
                                              Name:
                                              Title:

                                          D-R HOLDINGS (UK) LTD, as an Initial
                                              Foreign Borrower

                                          By:
                                              ----------------------------------
                                              Name:
                                              Title:

                                          D-R HOLDINGS (France) S.A.S., as an
                                              Initial Foreign Borrower

                                          By:
                                              ----------------------------------
                                              Name:
                                              Title:

<PAGE>

                                          DRESSER-RAND LLC,
                                              as a Guarantor and Domestic
                                              Subsidiary Loan Party (in each
                                              capacity)

                                          By:
                                              ----------------------------------
                                              Name:
                                              Title:

                                          DRESSER-RAND COMPANY,
                                              as a Guarantor and Domestic
                                              Subsidiary Loan Party (in each
                                              capacity)

                                          By:
                                              ----------------------------------
                                              Name:
                                              Title:

                                          DRESSER-RAND GLOBAL SERVICES, L.L.C.,
                                              as a Guarantor and Domestic
                                              Subsidiary Loan Party (in each
                                              capacity)

                                          By:
                                              ----------------------------------
                                              Name:
                                              Title:

                                          DRESSER-RAND POWER LLC,
                                              as a Guarantor and Domestic
                                              Subsidiary Loan Party (in each
                                              capacity)

                                          By:
                                              ----------------------------------
                                              Name:
                                              Title:

<PAGE>

                                     CONSENT

                                                       Dated as of July __, 2005

            Reference is made to (a) Amendment No. 2 and Consent to the Credit
Agreement and Amendment No. 1 to the Domestic Guarantee and Collateral
Agreement, each dated as of July __, 2005 (collectively, the "Amendment"), (b)
the Credit Agreement dated as of October 29, 2004 (as amended by Amendment No. 1
and Consent to the Credit Agreement, dated as of January 4, 2005 and as modified
by the Consent and Waiver Under the Credit Agreement dated as of May 13, 2005,
the "Credit Agreement") among D-R Interholding, LLC, as Holdings, Dresser-Rand
Group Inc., as Domestic Borrower, D-R Holdings (UK) Limited, as UK Borrower, D-R
Holdings (France) S.A.S., as French Borrower, the Lenders party thereto,
Citicorp North America, Inc., as Administrative Agent and certain other agents
and arrangers party thereto and (c) the other Loan Documents referred to
thereof. Capitalized terms not otherwise defined in this Consent have the same
meanings as specified in the Credit Agreement.

            The undersigned, as parties to one or more of the Loan Documents,
each hereby consents to the execution, delivery and the performance of the
Amendment and agrees that each of the Loan Documents to which it is a party is,
and shall continue to be, in full force and effect and is hereby in all respects
ratified and confirmed as of the Amendment No. 2 Effective Date and the
Repricing Effective Date (each as defined in the Amendment), except that, on and
after the Amendment No. 2 Effective Date and the Repricing Effective Date (each
as defined in the Amendment), as applicable, each reference to "the Credit
Agreement", "thereunder", "thereof", "thereof" or words of like import referring
to the Credit Agreement shall mean and be a reference to the Credit Agreement,
as amended and otherwise modified by the Amendment.

            This Consent shall be governed by, and construed in accordance with,
the laws of the State of New York.

                [Remainder of this page intentionally left blank]

<PAGE>

                                          DRESSER-RAND LLC,
                                             as a Guarantor and Domestic
                                             Subsidiary Loan Party (in each
                                             capacity)

                                          By:
                                              ----------------------------------
                                              Name:
                                              Title:

<PAGE>

                                          DRESSER-RAND COMPANY,
                                              as a Guarantor and Domestic
                                              Subsidiary Loan Party (in each
                                              capacity)

                                          By:
                                              ----------------------------------
                                              Name:
                                              Title:

<PAGE>

                                          DRESSER-RAND POWER LLC,
                                              as a Guarantor and Domestic
                                              Subsidiary Loan Party (in each
                                              capacity)

                                          By:
                                              ----------------------------------
                                              Name:
                                              Title:

<PAGE>

                                          DRESSER-RAND GLOBAL SERVICES, L.L.C.,
                                              as a Guarantor and Domestic
                                              Subsidiary Loan Party (in each
                                              capacity)

                                          By:
                                              ----------------------------------
                                              Name:
                                              Title:exv10w3

 

Exhibit 10.3

 

OMNIBUS AGREEMENT

AMONG

WILLIAMS ENERGY SERVICES, LLC

WILLIAMS ENERGY, LLC

WILLIAMS DISCOVERY
PIPELINE LLC

WILLIAMS PARTNERS HOLDINGS LLC

WILLIAMS PARTNERS GP LLC

WILLIAMS PARTNERS L.P.

AND

WILLIAMS PARTNERS OPERATING LLC

 

 

 

OMNIBUS AGREEMENT

     THIS OMNIBUS AGREEMENT is entered into on, and effective as of, the Closing Date, among
Williams Energy Services, LLC (“WES”), Williams
Energy, LLC (“Williams Energy”), Williams Discovery
Pipeline LLC (“Williams Discovery”), Williams Partners Holdings LLC (“Williams Holdings,” and with
WES, Williams Energy and Williams Discovery, the “Williams Indemnitors”), Williams Partners GP LLC,
a Delaware limited liability company (including any permitted successors and assigns under the MLP
Agreement (as defined herein)), the “General Partner”), for itself and on behalf of the MLP in its
capacity as general partner, Williams Partners L.P., a Delaware limited partnership (the “MLP”) and
Williams Partners Operating LLC, a Delaware limited liability company (the “OLLC”). The
above-named entities are sometimes referred to in this Agreement each as a “Party” and collectively
as the “Parties”.

R E C I T A L S:

     The Parties desire by their execution of this Agreement to evidence their understanding, (i)
as more fully set forth in Article II and Article III of this Agreement, with respect to certain
indemnification and reimbursement obligations of the Parties, (ii) as more fully set forth in
Article IV of this Agreement, with respect to the partial credit to be provided to the MLP with
respect to general and administrative services provided by the Williams Entities (as defined
herein) for and on behalf of the Partnership Group (as defined herein) and (iii) as more fully set
forth in Article V of this Agreement, with respect to grants of intellectual property from the
Licensors (as defined herein) to the Licensees (as defined herein).

     In consideration of the premises and the covenants, conditions, and agreements contained
herein, and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Parties hereby agree as follows:

ARTICLE I

Definitions

1.1 Definitions. (a) Capitalized terms used herein but not defined shall have the meanings
given them in the MLP Agreement.

(b) As used in this Agreement, the following terms shall have the respective meanings set
forth below:

          “Agreement” means this Omnibus Agreement, as it may be amended, modified, or
supplemented from time to time in accordance with the terms hereof.

          “Change of Control” means, with respect to any Person (the “Applicable Person”), any of
the following events: (i) any sale, lease, exchange or other transfer (in one transaction
or a series of related transactions) of all or substantially all of the Applicable Person’s
assets to any other Person, unless immediately following such sale, lease, exchange or
other transfer such assets are owned, directly or indirectly, by the Applicable Person; (ii)
the dissolution or liquidation of the Applicable Person; (iii) the

Williams Partners L.P.

Omnibus Agreement

-1-

 

 

consolidation or merger of the Applicable Person with or into another Person pursuant
to a transaction in which the outstanding Voting Securities of the Applicable Person are
changed into or exchanged for cash, securities or other property, other than any such
transaction where (a) the outstanding Voting Securities of the Applicable Person are changed
into or exchanged for Voting Securities of the surviving corporation or its parent and (b)
the holders of the Voting Securities of the Applicable Person immediately prior to such
transaction own, directly or indirectly, not less than a majority of the outstanding Voting
Securities of the surviving corporation or its parent immediately after such transaction;
and (iv) a “person” or “group” (within the meaning of Sections 13(d) or 14(d)(2) of the
Exchange Act) being or becoming the “beneficial owner” (as defined in Rules 13d-3 and 13d-5
under the Exchange Act) of more than 50% of all of the then outstanding Voting Securities of
the Applicable Person, except in a merger or consolidation which would not constitute a
Change of Control under clause (iii) above.

          “Closing Date” means the date of the closing of the initial public offering of common
units representing limited partner interests in the MLP.

          “Common Unit” has the meaning given such term in the MLP Agreement.

          “Conflicts Committee” has the meaning given such term in the MLP Agreement.

          “Conway Plumes” has the meaning given such term in Section 2.1(b).

          “Covered Environmental Losses” means all environmental losses, damages, liabilities,
claims, demands, causes of action, judgments, settlements, fines, penalties, costs and
expenses (including, without limitation, court costs and reasonable attorney’s and experts’
fees) of any and every kind or character, suffered or incurred by the Partnership Group by
reason of or arising out of:

          (i) any violation or correction of violation of Environmental Laws; or

          (ii) any event or condition associated with ownership or operation of the Assets
(including, without limitation, the presence of Hazardous Substances on, under, about or
migrating to or from the Assets or the disposal or release of Hazardous Substances generated
by operation of the Assets at non-Asset locations) including, without limitation, (A) the
cost and expense of any investigation, assessment, evaluation, monitoring, containment,
cleanup, repair, restoration, remediation or other corrective action required or necessary
under Environmental Laws, (B) the cost or expense of the preparation and implementation of
any closure, remedial or corrective action or other plans required or necessary under
Environmental Laws and (C) the cost and expense for any environmental or toxic tort
pre-trial, trial or appellate legal or litigation support work; provided, in the case of
clauses (A) and (B), such cost and expense shall not include the costs of and associated
with project management and soil and ground water monitoring;

but only to the extent that such violation complained of under clause (i), or such events or
conditions included in clause (ii), occurred before the Closing Date.

Williams Partners L.P.

Omnibus Agreement

-2-

 

 

          “Discovery” means, collectively, Discovery Producer Services LLC, a Delaware limited
liability company, and its wholly owned subsidiary Discovery Gas Transportation LLC, a
Delaware limited liability company.

          “Discovery Assets” means the assets owned by Discovery as of the Closing Date.

          “Environmental Laws” means all federal, state, and local laws, statutes, rules,
regulations, orders, judgments and ordinances relating to protection of health and the
environment including, without limitation, the federal Comprehensive Environmental Response,
Compensation and Liability Act, the Superfund Amendments and Reauthorization Act, the
Resource Conservation and Recovery Act, the Clean Air Act, the Clean Water Act, the Safe
Drinking Water Act, the Toxic Substances Control Act, the Oil Pollution Act of 1990, the
Hazardous Materials Transportation Act, the Marine Mammal Protection Act, the Endangered
Species Act, the National Environmental Policy Act, and other environmental conservation and
protection laws, each as amended through the Closing Date.

          “Environmental Policy” means that certain Pollution Legal Liability Select Clean-up
Cost Cap Insurance Policy, Policy number PLCC 1959233, effective as of April 30, 2004,
issued by American International Specialty Lines Ins. Co., as modified by the related
declarations and endorsements attached thereto, and [held by] Mid-Continent Fractionation &
Storage, LLC, as first named insured, pursuant to an assignment from WMNGL.

          “Exchange Act” means the Securities Exchange Act of 1934, as amended.

          “General Partner” has the meaning given such term in the introduction to this
Agreement.

          “Hazardous Substance” means (a) any substance that is designated, defined or classified
as a hazardous waste, hazardous material, pollutant, contaminant or toxic or hazardous
substance, or that is otherwise regulated under any Environmental Law, including, without
limitation, any hazardous substance as defined under the Comprehensive Environmental
Response, Compensation and Liability Act and (b) oil as defined in the Oil Pollution Act of
1990, including without limitation petroleum, oil, gasoline, natural gas, fuel oil, motor
oil, waste oil, diesel fuel, jet fuel and other refined petroleum hydrocarbons.

          “Indemnified Party” means the Partnership Group or the Williams Entities, as the case
may be, in their capacity as the parties entitled to indemnification in accordance with
Article II.

          “Indemnifying Party” means either the Partnership Group or the Williams Indemnitors, as
the case may be, in their capacity as the parties from whom indemnification may be required
in accordance with Article II.

Williams Partners L.P.

Omnibus Agreement

-3-

 

 

          “KDHE” means the Kansas Department of Health and Environement.

          “Licensees” means, for purposes of Article V hereof, the Partnership Entities.

          “Licensors” means, for purposes of Article V hereof, [       ].

          “Losses” has the meaning given such term in Section 2.1(b).

          “Marks” means (i) all trademarks, tradenames, logos and/or service marks identified on
Schedule I attached hereto and (ii) those trademarks, tradenames, service marks or
logos associates with the Licensors’ Software or with the subject matter of other licenses
granted hereunder.

          “MLP” has the meaning given such term in the introduction to this Agreement.

          “MLP Agreement” means the Amended and Restated Agreement of Limited Partnership of the
MLP, dated as of the Closing Date, as such agreement is in effect on the Closing Date, to
which reference is hereby made for all purposes of this Agreement. An amendment or
modification to the MLP Agreement subsequent to the Closing Date shall be given effect for
the purposes of this Agreement only if it has received the approval that would be required
pursuant to Section 6.6 hereof if such amendment or modification were an amendment or
modification of this Agreement.

          “MLP Assets” means the assets owned by the entities contributed by the Williams
Entities to the Partnership Group on or prior to the Closing Date; provided, the MLP Assets
do not include the Discovery Assets.

          “MLP Pipeline Assets” has the meaning given such term in Section 2.2(a).

          “OLLC” has the meaning given such term in the introduction to this Agreement.

          “Organizational Documents” means certificates of incorporation, by-laws, certificates
of formation, limited liability company operating agreements, certificates of limited
partnership or limited partnership agreements or other formation or governing documents of a
particular entity.

          “Partnership Entities” means the General Partner and each member of the Partnership
Group.

          “Partnership Group” means the MLP, the OLLC and any Subsidiary of the OLLC; provided,
the Partnership Group does not include Discovery.

          “Person” means a corporation, partnership, joint venture, trust, limited liability
company, unincorporated organization or any other entity.

          “Software” means, with respect to the software programs identified on Schedule
I attached hereto as such exist on the Closing Date, (i) the source code, the object
code,

Williams Partners L.P.

Omnibus Agreement

-4-

 

 

any enhancements, upgrades, modifications and new versions, and (ii) any documentation
and instructions.

          “Subsidiary” has the meaning given such term in the MLP Agreement.

          “[        ] AFE” means the AFE (approval for expenditure) [approved by the management
committee of Discovery, as of [        ], 2005, with respect to the construction of a lateral
expansion to connect certain producing wells in the [        ] prospect to the existing
Discovery pipeline system].

          “Voting Securities” means securities of any class of Person entitling the holders
thereof to vote in the election of, or to appoint, members of the board of directors or
other similar governing body of the Person.

          “WES” has the meaning given such term in the introduction to this Agreement.

          “Williams” means The Williams Companies, Inc., a Delaware corporation.

          “Williams Discovery” has the meaning given such term in the introduction to this
Agreement.

          “Williams Energy” has the meaning given such term in the introduction to this
Agreement.

          “Williams Entities” means Williams and any Person controlled by Williams, other than
the Partnership Entities. For purposes of this definition, “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.

          “Williams Holdings” has the meaning given such term in the introduction to this
Agreement.

          “Williams Indemnitors” has the meaning given such term in the introduction to this
Agreement.

          “WMNGL” means Williams Midstream Natural Gas Liquids, Inc., a Delaware corporation.

ARTICLE II

Indemnification

     2.1 Environmental Indemnification.

          (a) Subject to the provisions of Section 2.4 and Section 2.5, the Williams Indemnitors
shall indemnify, defend and hold harmless the Partnership Group from and against any Covered
Environmental Losses relating to the MLP Assets and the Discovery

Williams Partners L.P.

Omnibus Agreement

-5-

 

 

Assets for a period of three (3) years from the Closing Date; provided, the Williams
Indemnitors shall only be obligated to indemnify, defend and hold harmless the Partnership
Group for forty percent (40.0%) of any Covered Environmental Losses associated with the
Discovery Assets.

          (b) Without limiting the indemnity provided pursuant to Section 2.1(a), subject to the
provisions of Section 2.4 and Section 2.5, the Williams Indemnitors shall also indemnify,
defend and hold harmless the Partnership Group from and against any losses, damages,
liabilities, claims, demands, causes of action, judgments, settlements, fines, penalties,
costs and expenses (including, without limitation, court costs and reasonable attorney’s and
experts’ fees) of any and every kind or character (collectively, “Losses”) suffered or
incurred by the Partnership Group by reason of or arising out of:

          (i) the completion of the currently ongoing or scheduled remediation projects
at the storage caverns in Conway, Kansas pursuant to consent orders issued by the
Kansas Department of Health and Environment, as more fully described on
Schedule II hereto (the “Conway Plumes”), excluding costs of and associated
with project management and soil and groundwater monitoring relating thereto;
provided, that the Williams Indemnitors shall have no indemnification obligation
with respect to any matters insured against under the Environmental Policy;

          (ii) [the natural gas liquids and other hydrocarbons in localized groundwater
resources around two abandoned storage caverns in Conway, Kansas not covered by the
consent orders referred to in clause (i) above;]

          (iii) the repair and/or replacement costs directly associated with the
Louisiana Department of Environmental Quality’s Notice of Potential Penalty issued
for the flare at Discovery’s Paradis Gas Processing Plant in Paradis, St. Charles
Parish, Louisiana; and

          (iv) the completion of the construction and maintenance of the Marsh Mitigation
Project Phase II, related to the Louisiana Department of Natural Resources Coastal
Management Division and the U.S. Army Corps of Engineers Permits granted on April
23, 1998, and which includes administratively approved wetland mitigation for 37.211
acres of marshland that was impacted by the April-October 1998 construction of the
Discovery natural gas pipeline;

provided, however, that in the case of such events or conditions described in clauses (ii)
and (iii) above, (x) such indemnification obligations shall survive for three (3) years from
the Closing Date and (y) the Williams Indemnitors shall only be obligated to indemnify,
defend and hold harmless the Partnership Group for forty percent (40.0%) of the Losses
associated with such events or conditions.

          (c) The Partnership Group shall indemnify, defend and hold harmless the Williams
Entities from and against (i) any Covered Environmental Losses relating to the

Williams Partners L.P.

Omnibus Agreement

-6-

 

 

MLP Assets regardless of whether such Covered Environmental Losses occurred before or
after the Closing Date, except to the extent that any of the foregoing with respect to which
the Partnership Group is entitled to indemnification from Williams as Covered Environmental
Losses or otherwise under Section 2.1(a) or 2.1(b).

2.2 Indemnification for Certain Repair and Compliance Costs. Subject to the provisions of
Section 2.4 and Section 2.5, the Williams Indemnitors shall also indemnify, defend and hold
harmless the Partnership Group from and against any Losses suffered or incurred by the
Partnership Group by reason of or arising out of:

          (a) the repair and/or replacement of the overburden along the Carbonate Trend natural
gas pipeline as a result of erosion caused by Hurricane Ivan in 2004;

          (b) the compliance with the KDHE-required installation of wellhead control equipment
and well meters associated with the following KDHE regulations, which pertain to underground
liquified petroleum gas or hydrocarbon storage cavern/well permits:  Kan. Admin.
Regs. §§ 28-45a-1 to 28-45a-19 (2003) and Kan. Admin. Regs. §§ 28-45-2a to
28-45-30 (2003)) ; and

          (c) the repair and/or replacement costs associated with changing piping and flow
processes, and the installation of a new separator tank as those costs are directly
associated with the discontinuance of use of Discovery’s shared concrete storage tank which
resides on Chevron/Texaco property adjacent to Discovery’s Paradis Processing Plant, in St.
Charles Parish, Louisiana;

provided, however, that in the case of such events or conditions described in clause (c)
above, the Williams Indemnitors shall only be obligated to indemnify, defend and hold
harmless the Partnership Group for forty percent (40.0%) of the Losses associated with such
events or conditions.

2.3 Additional Indemnification

          (a) Subject to the provisions of Section 2.4 and Section 2.5, the Williams Indemnitors
shall indemnify, defend and hold harmless the Partnership Group from and against any Losses
suffered or incurred by the Partnership Group by reason of or arising out of:

          (i) the failure of the Partnership Group to be the owner of such valid and
indefeasible easement rights or fee ownership interests in and to the lands on which
are located any pipeline or related equipment or asset conveyed, contributed or
otherwise transferred (the “MLP Pipeline Assets”), as of the Closing Date, and such
failure renders the Partnership Group unable to use or operate the MLP Pipeline
Assets in substantially the same manner that the Pipeline Assets were used and
operated by the Williams Entities immediately prior to the Closing Date;

Williams Partners L.P.

Omnibus Agreement

-7-

 

 

          (ii) the failure of the Partnership Group to have on the Closing Date any
consent or governmental permit necessary to allow any such MLP Pipeline Assets
referred to in clause (ii) of this Section 2.1 to cross the roads, waterways,
railroads and other areas upon which any such Pipeline Assets are located as of the
Closing Date, and such failure renders the Partnership Group unable to use or
operate the MLP Pipeline Assets in substantially the same manner that the MLP
Pipeline Assets were owned and operated by the Williams Entities immediately prior
to the Closing Date; and

          (iii) all federal, state and local income tax liabilities attributable to the
operation of the MLP Assets prior to the Closing Date, including any such income tax
liabilities of the Williams Entities that may result from the consummation of the
formation transactions for the Partnership Group, but excluding any federal, state
and local income taxes reserved on the books of the Partnership Group as of the
Closing Date;

provided, however, that, in the case of clauses (i) and (ii) above, such indemnification
obligations shall survive for three (3) years from the Closing Date and, in the case of
clause (iii) above, such indemnification obligations shall survive until sixty (60) days
after the expiration of any applicable statute of limitations; and provided, further, that
the indemnification obligations under clauses (i) and (ii) above do not include any pipeline
or related equipment owned by Discovery.

          (b) In addition to and not in limitation of the indemnification provided under this
Article II, the Partnership Group shall indemnify, defend, and hold harmless the Williams
Entities from and against any losses, damages, liabilities, claims, demands, causes of
action, judgments, settlements, fines, penalties, costs and expenses (including, without
limitation, court costs and reasonable attorney’s and experts’ fees) of any and every kind
or character, suffered or incurred by the Williams Entities by reason of or arising out of
events and conditions associated with the operation of the MLP Assets and occurring on or
after the Closing Date.

2.4 Limitations Regarding Indemnification. The aggregate liability of the Williams
Indemnitors under Sections 2.1(a), 2.1(b) and 2.2 shall not exceed $12.5 million; provided,
this amount shall be reduced by the amount with respect to which any Losses indemnified
under such Sections are recoverable under the Environmental Policy. Furthermore, no claims
may be made against the Williams Indemnitors for indemnification pursuant to Sections
2.1(a), 2.1(b) or 2.2 unless the aggregate dollar amount of such claims for indemnification
exceed $250,000, after such time the Williams Indemnitors shall be liable for the full
amount of such claims. Notwithstanding anything herein to the contrary, in no event shall
the Williams Indemnitors have any indemnification obligations under this Agreement for
claims made as a result of additions to or modifications of Environmental Laws promulgated
after the Closing Date.

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2.5 Indemnification Procedures.

          (a) The Indemnified Party agrees that within a reasonable period of time after they
become aware of facts giving rise to a claim for indemnification pursuant to this Article
II, they will provide notice thereof in writing to the Indemnifying Party specifying the
nature of and specific basis for such claim; provided, however, that the Indemnified Party
shall not submit claims more frequently than once a calendar quarter.

          (b) The Indemnifying Party shall have the right to control all aspects of the defense
of (and any counterclaims with respect to) any claims brought against the Indemnified Party
that are covered by the indemnification set forth in this Article II, including, without
limitation, the selection of counsel, determination of whether to appeal any decision of any
court and the settling of any such matter or any issues relating thereto; provided, however,
that no such settlement shall be entered into without the consent (which consent shall not
be unreasonably withheld, conditioned or delayed) of the Indemnified Party unless it
includes a full release of the Indemnified Party from such matter or issues, as the case may
be.

          (c) The Indemnified Party agrees to cooperate fully with the Indemnifying Party with
respect to all aspects of the defense of any claims covered by the indemnification set forth
in Article II, including, without limitation, the prompt furnishing to the Indemnifying
Party of any correspondence or other notice relating thereto that the Indemnified Party may
receive, permitting the names of the Indemnified Party to be utilized in connection with
such defense, the making available to the Indemnifying Party of any files, records or other
information of the Indemnified Party that the Indemnifying Party considers relevant to such
defense and the making available to the Indemnifying Party of any employees of the
Indemnified Party; provided, however, that in connection therewith the Indemnifying Party
agrees to use reasonable efforts to minimize the impact thereof on the operations of the
Indemnified Party and further agrees to maintain the confidentiality of all files, records
and other information furnished by the Indemnified Party pursuant to this Section 2.5. In
no event shall the obligation of the Indemnified Party to cooperate with the Indemnifying
Party as set forth in the immediately preceding sentence be construed as imposing upon the
Indemnified Party an obligation to hire and pay for counsel in connection with the defense
of any claims covered by the indemnification set forth in this Article II; provided,
however, that the Indemnified Party may, at their own option, cost and expense, hire and pay
for counsel in connection with any such defense. The Indemnifying Party agrees to keep any
such counsel hired by the Indemnified Party reasonably informed as to the status of any such
defense, but the Indemnifying Party shall have the right to retain sole control over such
defense.

          (d) In determining the amount of any loss, cost, damage or expense for which the
Indemnified Party is entitled to indemnification under this Agreement, the gross amount of
the indemnification will be reduced by (i) any insurance proceeds realized by the
Indemnified Party, and such correlative insurance benefit shall be net of any incremental
insurance premium that becomes due and payable by the Indemnified Party

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as a result of such claim and (ii) all amounts recovered by the Indemnified Party under
contractual indemnities from third Persons. The Partnership hereby agrees to use
commercially reasonable efforts to realize any applicable insurance proceeds or amounts
recoverable under such contractual indemnities.

ARTICLE III

[     ] Reimbursement

3.1 General. The Williams Indemnitors hereby agrees to contribute to the MLP funds an
aggregate amount equal to forty percent (40.0%) of the amount of the expenditures covered by
the [           ] AFE that are actually incurred by Discovery. The Williams Indemnitors shall
have no obligation to make any contribution to the MLP pursuant to this Section 3.1 until
the three (3) business days following receipt by the Williams Indemnitors of written notice
from the MLP that either (a) the MLP has received a written request from Discovery pursuant
to Section 3.2 of the Discovery LLC Agmt. for the MLP to make a capital contribution to
Discovery for the express purpose of funding all or a portion of the expenditures covered
by the [           ] AFE or (b) Discovery has actually incurred all or a portion of the
expenditures covered by the [           ] AFE and the; provided, the Williams Indemnitors shall
not be required to make a contribution to the MLP in response to receipt of such notice more
frequently than once each calendar quarter. Upon receipt of such notice, the Williams
Indemnitors shall promptly contribute to the MLP funds in amount equal to forty percent
(40.0%) of the amount of expenditures covered by the [           ] AFE specified in such notice.

ARTICLE IV

Partial Credit for General and Administrative Expenses

4.1 General. Pursuant to the MLP Agreement, the Partnership Group is required to reimburse
the General Partner for, among other things, all general and administrative expenses
incurred or payments made by the General Partner or another Williams Entity on behalf of the
Partnership Group. Pursuant to this Article IV, the General Partner will provide an annual
credit to the Partnership Group for a portion of the amount of such reimbursement obligation
with respect to general and administrative expenses, with such credit to be [recognized and
paid] ratably over the course of the Partnership’s fiscal year. The amount of the credit
for general and administrative expenses to be provided by the General Partner in each fiscal
year, or portion thereof, from the Closing Date shall be:

          (a) for the fiscal year ending December 31, 2005, the amount of the credit shall be
$3.9 million times a fraction the number of which is the number of days from the Closing
Date through December 31, 2005 and the denominator of which is 365;

          (b) for the fiscal year ending December 31, 2006, the amount of the credit shall be
$3.2 million;

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          (c) for the fiscal year ending December 31, 2007, the amount of the credit shall be
$2.4 million;

          (d) for the fiscal year ending December 31, 2008, the amount of the credit shall be
$1.6 million; and

          (e) for the fiscal year ending December 31, 2009, the amount of this credit shall be
$0.8 million.

After December 31, 2009, the Partnership Group shall not be entitled to receive any credit
from the General Partner or any other Williams Entity relating to the Partnership Group’s
reimbursement obligations under the MLP Agreement.

ARTICLE V

License Agreement

5.1 Grant of License.

          (a) Software. Subject to the terms and conditions herein, the Licensors hereby grant
to each Licensee, and each Licensee hereby accepts, a non-exclusive, world-wide,
non-transferable, royalty-free, perpetual license during the term of this Agreement on an
“AS IS, WHERE IS” basis to use the Software solely for the internal use by each Licensee’s
employees for the benefit of such Licensee, any Person directly or indirectly controlled by
or under common control with such Licensee, but specifically excluding disclosure to any
third parties including, without limitation, any customer of such Licensee.

          (b) Marks. Subject to the terms and conditions herein, Licensors hereby grant to
Licensees the right and license to use the Marks solely in connection with the Licensees’
businesses and the services performed therewith within the United States during the term of
this Agreement.

5.2 Restrictions on Software.

          (a) Each of the Licensees agrees that it shall not sublicense, license, disclose or
otherwise make available any part of the Software to any person other than: (i) each of
Licensees’ employees who is required to have access to the Software and (ii) each of
Licensees’ consultants who is required to have access to the Software and who has executed a
non-disclosure agreement containing obligations of confidence consistent with the
restrictions set forth in this Agreement.

          (b) Each Licensee shall keep the Software in a secure environment and shall take
reasonable commercial steps necessary to protect the Software, or any part thereof, from
unauthorized disclosure or release.

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          (c) Each Licensee shall be entitled to create a sufficient number of copies of the
Software for backup and archival purposes only provided that such Licensee reproduces and
applies all copyright notices and any other proprietary rights notices that appear on the
original copies supplied by Licensors. Licensees shall not be permitted to adapt, create
derivative works of, translate, perform or display publicly, post or otherwise modify the
Software.

          (d) Each of the Licensees agrees that it shall not use the Software for any development
or analysis purposes whatsoever and that it shall not decompile or reverse engineer the
Software.

          (e) Each Licensee acknowledges and agrees that Licensors shall own all intellectual
property rights in and to the Software.

5.3 Restrictions on Marks. In order to ensure the quality of uses under the Marks, and to
protect the goodwill of the Marks, Licensees agree as follows:

          (a) Licensees will only use the Marks in formats approved by Licensors and only in
strict association with the Licensees’ businesses and the services performed therewith;

          (b) Prior to publishing any new format or appearance of the Marks or the advertising or
promotional materials, Licensees shall first provide such format, appearance or materials to
Licensors for its approval. If Licensors do not inform Licensees in writing within fourteen
(14) days from the date of the receipt of such new format, appearance, or materials that
such new format, appearance, or materials is acceptable, then such new format, appearance
or materials shall be deemed to be unacceptable and disapproved by Licensors. Licensors may
withhold approval of any proposed changes to the format, appearance or materials which
Licensees propose to use in Licensors’ sole discretion; and

          (c) Licensees shall not use any other trademarks, service marks, trade names or logos
in connection with the Marks or use the Marks or any trademark or service mark confusingly
similar to the Marks after the termination of this Agreement. Licensors will not use the
Marks in such a manner so as to impair the validity or enforceability or in any way
disparage or dilute the Marks.

5.4 Ownership. Licensors shall own all right, title and interest, including all goodwill
relating thereto, in and to the Marks, and all trademark rights embodied therein shall at
all times be solely vested in Licensors. Licensors shall also own all right, title, and
interest in and to the Software. Licensees have no right, title, interest or claim of
ownership in the Marks or the Software, except for the licenses granted in this Agreement.
All use of the Marks shall inure to the benefit of Licensors. Licensees agree that they will
not attack the title of Licensors in and to the Marks or the Software.

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5.5 Confidentiality. The Licensees shall maintain in strictest confidence all confidential
or nonpublic information or material disclosed by Licensors embodied in or reflected in the
Software and in the materials supplied hereunder in connection with the license of the
Marks, whether in writing or orally and whether or not marked as confidential. Such
confidential information includes, but is not limited to, algorithms, inventions, ideas,
processes, computer system architecture and design, operator interfaces, operational
systems, technical information, technical specifications, training and instruction manuals,
and the like. In furtherance of the foregoing confidentiality obligation, Licensees shall
limit disclosure of such Software and other confidential information to those of their
employees, contractors or agents having a need to access the Software and confidential
information for the purpose of exercising rights granted hereunder.

5.6 Estoppel. Nothing in this Agreement shall be construed as conferring by implication,
estoppel, or otherwise upon Licensees (a) any license or other right under the intellectual
property rights of Licensors other than the license granted herein to the Software and Marks
as set forth expressly herein or (b) any license rights other than those expressly granted
herein.

5.7 Warranties; Disclaimers.

          (a) The Licensors represent and warrant that (i) they own and have the right to license
the Software and the Marks licensed under this Agreement, (ii) the Software and the Marks do
not infringe upon the rights of any third parties and (iii) the Software includes all
software owned or licensed by Licensors that is necessary and sufficient to operate the
Assets in the manner in which they are currently operated by the Licensors or their
affiliates.

          (b) EXCEPT FOR THE WARRANTIES AND REPRESENTATIONS DESCRIBED IN SECTION 5.7(a),
LICENSORS DISCLAIM ANY AND ALL WARRANTIES, CONDITIONS OR REPRESENTATIONS (EXPRESS OR
IMPLIED, ORAL OR WRITTEN) WITH RESPECT TO THE SUBJECT MATTER HEREOF, OR ANY PART THEREOF,
INCLUDING ANY AND ALL IMPLIED WARRANTIES OF NON-INFRINGEMENT, MERCHANTABILITY OR FITNESS OR
SUITABILITY FOR ANY PURPOSE (WHETHER THE PARTY KNOWS, HAS REASON TO KNOW, HAS BEEN ADVISED,
OR IS OTHERWISE IN FACT AWARE OF ANY SUCH PURPOSE) WHETHER ALLEGED TO ARISE BY LAW, BY
REASON OF CUSTOM OR USAGE IN THE TRADE OR BY COURSE OF DEALING. THE SOFTWARE AND
DOCUMENTATION LICENSED HEREUNDER IS LICENSED “AS IS” AND LICENSEES AGREE THAT THE SOFTWARE
MAY HAVE BUGS AND THAT INTERRUPTIONS IN ITS OPERATION MAY OCCUR.

5.8 Indemnification.

          (a) Each Licensee shall jointly and severally, and to the fullest extent permitted by
applicable law, defend, indemnify and hold harmless the Licensors and their

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respective successors and assigns authorized hereunder and any of their respective
officers, directors, employees, agents and representatives from and against any and all
claims, demands, damages, losses, costs and expenses arising out of or related in any way to
this Article V to the extent such claims are attributable to such Licensee’s failure to
comply with its obligations under this Article V or Licensee’s negligence or the negligence
of Licensee’s employees, agents, subcontractors or other representatives regarding this
Article V.

          (b) Each Licensor shall jointly and severally, and to the fullest extent permitted by
applicable law, defend, indemnify and hold harmless the Licensees and their respective
successors and assigns authorized hereunder and any of their respective officers, directors,
employees, agents and representatives from and against any and all claims, demands, damages,
losses, costs and expenses arising out of or related in any way to this Article V to the
extent such claims are attributable to (i) Licensor’s failure to comply with its obligations
under this Article V, (ii) any claim of infringement or ownership asserted by a third party
as to the Software or Marks or (iii) Licensor’s negligence or the negligence of Licensor’s
employees, agents, subcontractors or other representatives regarding this Article V.

5.9 Remedies and Enforcement. Each Licensee acknowledges and agrees that a breach by such
Licensee of its obligations under this Article V would cause irreparable harm to the
Licensors and that monetary damages would not be adequate to compensate the Licensors.
Accordingly, each Licensee agrees that the Licensors shall be entitled to immediate
equitable relief, including, without limitation, a temporary or permanent injunction, to
prevent any threatened, likely or ongoing violation by such Licensee, without the necessity
of posting bond or other security. The Licensors’ right to equitable relief shall be in
addition to other rights and remedies available to the Licensors, for monetary damages or
otherwise.

5.10 In the Event of Termination. In the event of such termination of this Agreement
pursuant to Section 6.4 or otherwise, the Licensees’ right to utilize or possess the
Software and the Marks licensed under this Agreement shall automatically cease, and:

          (a) Within 15 days after the termination of this Agreement, the Licensees shall (i)
return to Licensors or destroy the original and all copies, in any form, of all Software and
Inventions, or parts thereof, for which it has received a license hereunder and (ii) provide
a certified affidavit executed by an officer of the Licensees to the effect that the
destruction has been completed.

          (b) Concurrently with the termination of this Agreement, the Licensees shall (i) cease
all use of the Marks and shall adopt new trademarks, service marks, and trade names that are
not confusingly similar to the Marks and (ii) no later than [ninety (90)] days following the
termination of this Agreement, the General Partner shall have caused each of the Partnership
Entities to change its legal name so that there is no longer any reference therein to the
name “Williams” or any variation, derivation or abbreviation thereof, and in connection
therewith, the General Partner shall cause each such

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Partnership Entity to make all necessary filings of certificates with the Secretary of
State of the State of Delaware and to otherwise amend its Organizational Documents by such
date.

ARTICLE VI

Miscellaneous

6.1 Choice of Law; Submission to Jurisdiction. This Agreement shall be subject to and
governed by the laws of the State of Texas, excluding any conflicts-of-law rule or principle
that might refer the construction or interpretation of this Agreement to the laws of another
state. Each Party hereby submits to the jurisdiction of the state and federal courts in the
State of Texas and to venue in Texas.

6.2 Notice. All notices or requests or consents provided for or permitted to be given
pursuant to this Agreement must be in writing and must be given by depositing same in the
United States mail, addressed to the Person to be notified, postpaid, and registered or
certified with return receipt requested or by delivering such notice in person or by
telecopier or telegram to such Party. Notice given by personal delivery or mail shall be
effective upon actual receipt. Notice given by telegram or telecopier shall be effective
upon actual receipt if received during the recipient’s normal business hours, or at the
beginning of the recipient’s next business day after receipt if not received during the
recipient’s normal business hours. All notices to be sent to a Party pursuant to this
Agreement shall be sent to or made at the address set forth below or at such other address
as such Party may stipulate to the other Parties in the manner provided in this Section 6.2.

	 	 	 
	 

	 	For notices to [Williams
Energy Services, LLC; Williams Energy, LLC;
	 

	 	Williams Discovery Pipeline LLC, Williams Partners Holdings LLC] or
	 

	 	Williams Partners GP LLC:
	 
	 	 
	 

	 	One Williams Center
	 

	 	Tulsa, Oklahoma 74172
	 

	 	Phone: (918) 573-2000
	 

	 	Fax: (918) ___-___
	 

	 	Attention:
	 
	 	 
	 

	 	For notices to Williams Partners L.P. or Williams Partners
	 

	 	Operating LLC:
	 
	 	 
	 

	 	One Williams Center
	 

	 	Tulsa, Oklahoma 74172
	 

	 	Phone: (918) 573-2000
	 

	 	Fax: (918) ___-___
	 

	 	Attention:

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6.3 Entire Agreement. This Agreement constitutes the entire agreement of the Parties
relating to the matters contained herein, superseding all prior contracts or agreements,
whether oral or written, relating to the matters contained herein.

6.4 Termination. The provisions of Article III, Article IV and Article V of this Agreement
shall terminate upon a Change of Control of the General Partner or the MLP.

6.5 Effect of Waiver or Consent. No waiver or consent, express or implied, by any Party to
or of any breach or default by any Person in the performance by such Person of its
obligations hereunder shall be deemed or construed to be a consent or waiver to or of any
other breach or default in the performance by such Person of the same or any other
obligations of such Person hereunder. Failure on the part of a Party to complain of any act
of any Person or to declare any Person in default, irrespective of how long such failure
continues, shall not constitute a waiver by such Party of its rights hereunder until the
applicable statute of limitations period has run.

6.6 Amendment or Modification. This Agreement may be amended or modified from time to time
only by the written agreement of all the Parties; provided, however, that the MLP and the
OLLC may not, without the prior approval of the Conflicts Committee, agree to any amendment
or modification of this Agreement that, in the reasonable discretion of the General Partner,
will adversely affect the holders of Common Units. Each such instrument shall be reduced to
writing and shall be designated on its face an “Amendment” or an “Addendum” to this
Agreement.

6.7 Assignment; Third Party Beneficiaries. No Party shall have the right to assign its
rights or obligations under this Agreement without the consent of the other Parties. Each
of the Parties hereto specifically intends that each entity comprising the Williams Entities
or the Partnership Group, as applicable, whether or not a Party to this Agreement, shall be
entitled to assert rights and remedies hereunder as third-party beneficiaries hereto with
respect to those provisions of this Agreement affording a right, benefit or privilege to any
such entity.

6.8 Counterparts. This Agreement may be executed in any number of counterparts with the
same effect as if all signatory Parties had signed the same document. All counterparts
shall be construed together and shall constitute one and the same instrument.

6.9 Severability. If any provision of this Agreement or the application thereof to any
Person or circumstance shall be held invalid or unenforceable to any extent, the remainder
of this Agreement and the application of such provision to other Persons or circumstances
shall not be affected thereby and shall be enforced to the greatest extent permitted by law.

6.10 Gender, Parts, Articles and Sections. Whenever the context requires, the gender of all
words used in this Agreement shall include the masculine, feminine and neuter, and the
number of all words shall include the singular and plural. All references to Article
numbers and Section numbers refer to Articles and Sections of this Agreement.

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6.11 Further Assurances. In connection with this Agreement and all transactions
contemplated by this Agreement, each Party agrees to execute and deliver such additional
documents and instruments and to perform such additional acts as may be necessary or
appropriate to effectuate, carry out and perform all of the terms, provisions and conditions
of this Agreement and all such transactions.

6.12 Withholding or Granting of Consent. Each Party may, with respect to any consent or
approval that it is entitled to grant pursuant to this Agreement, grant or withhold such
consent or approval in its sole and uncontrolled discretion, with or without cause, and
subject to such conditions as it shall deem appropriate.

6.13 Laws and Regulations. Notwithstanding any provision of this Agreement to the contrary,
no Party shall be required to take any act, or fail to take any act, under this Agreement if
the effect thereof would be to cause such Party to be in violation of any applicable law,
statute, rule or regulation.

6.14 Negotiation of Rights of Williams, Limited Partners, Assignees, and Third Parties. The
provisions of this Agreement are enforceable solely by the Parties, and no stockholder of
Williams and no limited partner, member, assignee or other Person of the MLP or the OLLC
shall have the right, separate and apart from Williams, the MLP or the OLLC, to enforce any
provision of this Agreement or to compel any Party to comply with the terms of this
Agreement.

6.15 No Recourse Against Officers or Directors. For the avoidance of doubt, the provisions
of this Agreement shall not give rise to any right of recourse against any officer or
director of any Williams Entity or any Partnership Entity.

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     IN WITNESS WHEREOF, the Parties have executed this Agreement on, and effective as of, the
Closing Date.

	 	 	 	 	 
	 	WILLIAMS ENERGY SERVICES, LLC

 	 
	 	By:  	 	 
	 	 	Name 	 
	 	 	Title 	 
	 

	 	 	 	 	 
	 	WILLIAMS ENERGY, LLC

 	 
	 	By:  	 	 
	 	 	Name 	 
	 	 	Title 	 
	 

	 	 	 	 	 
	 	WILLIAMS DISCOVERY PIPELINE LLC

 	 
	 	By:  	 	 
	 	 	Name 	 
	 	 	Title 	 
	 

	 	 	 	 	 
	 	WILLIAMS PARTNERS HOLDINGS LLC

 	 
	 	By:  	 	 
	 	 	Name 	 
	 	 	Title 	 
	 

	 	 	 	 	 
	 	WILLIAMS PARTNERS GP LLC

 	 
	 	By:  	 	 
	 	 	Name 	 
	 	 	Title 	 
	 

Williams Partners L.P.

Omnibus Agreement

 

 

	 	 	 	 	 
	 	WILLIAMS PARTNERS L.P.

 	 
	 	By:  	Williams Partners GP LLC, its general partner
 	 

	 	 	 	 	 
	 	By:  	
 	 
	 	 	Name 	 
	 	 	Title 	 

	 	 	 	 	 
	 	WILLIAMS PARTNERS OPERATING LLC

 	 
	 	By:  	WILLIAMS PARTNERS L.P.
 	 
	 	 	 	 
	 	By:  	Williams Partners GP LLC, its general partner 	 

	 	 	 	 	 
	 	By:  	
 	 
	 	 	Name 	 
	 	 	Title 	 

Williams Partners L.P.

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Schedule I

Marks and Software

[to come]

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Schedule II

Conway Plumes

Remediation activities related to past releases at the Conway West Storage Facility as required by
and described in the Kansas Department of Health and Environment Consent Order 92-E-274, dated
September 13, 1993.

Remediation activities related to past releases at the Conway East Storage Facility as required by
and described in the Kansas Department of Health and Environment Consent Order 94-E-0201, dated
December 19, 1994.

Remediation activities related to past releases at the Mitchell Storage Facility as required by and
described in the Kansas Department of Health and Environment Consent Order 96-E-0273, dated April
24, 1997.

Williams Partners L.P.

Omnibus Agreement

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