Document:

<PAGE>
                                                                    EXHIBIT 10.6

                                                                  EXECUTION COPY

                          THE WILLIAMS COMPANIES, INC.
                           MULTIYEAR CREDIT AGREEMENT

                                    AMENDMENT
                           Dated as of March 28, 2903

                  This AMENDMENT, dated as of March 28, 2003 (this "Agreement"),
under the First Amended and Restated Credit Agreement dated October 31, 2002, as
modified by the Consent and Waiver dated as of January 22, 2003 (such agreement,
as amended or otherwise modified, being referred to herein as the "Credit
Agreement"), among The Williams Companies, Inc., a Delaware corporation ('TWC"),
Northwest Pipeline Corporation, a Delaware corporation (t4WP"), Transcontinental
Gas Pipe Line Corporation, a Delaware corporation ("TGPL"), and Texas Gas
Transmission Corporation, a Delaware corporation ('TGT"); TWC, NWP, TGPL and TGT
each a 'Borrower" and collectively, the 'Borrowers"), the financial institutions
and other Persons from time to time party thereto (the "Banks"), JPMorgan Chase
Bank (f/k/a The Chase Manhattan Bank) and Commerzbank AG, as Co- Syndication
Agents, Credit Lyonnais New York Branch, as Documentation Agent, and Citicorp
USA, Inc., as agent (the "Agent"). Capitalized terms used without definition in
this Agreement shall have the meanings provided in the Credit Agreement.

                              W I T N E S S E T H:

                  WHEREAS, the Borrowers intend to consummate those certain
asset dispositions as described on Schedule I attached hereto (the "Asset
Dispositions");

                  WHEREAS, the Borrowers have requested that the Banks agree to
(i) amend the Credit Agreement to permit the Asset Dispositions and provide
certain amendments to the Credit Agreement in connection with the Asset
Dispositions and (ii) amend the requirements of the Credit Agreement with
respect to the security interest to be granted in the Refinery located in Alaska
on terms and conditions as set forth herein (the "Alaska Security Interest")

                  WHEREAS, the Banks are willing to grant the requests of the
Borrowers and agree to provide certain amendments to the Credit Agreement as
hereinafter set forth;

                  NOW, THEREFORE, for good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, and subject to the
terms and conditions hereof, the parties hereto agree as follows:

                  SECTION 1. Amendment of Credit Agreement. Subject to the
occurrence of the Effective Date, the Credit Agreement is amended as follows:

                  (i)      Section 1.01 of the Credit Agreement is hereby
         amended by inserting the following definition in proper alphabetical
         order:

<PAGE>

                                       2

                  '''Amendment Asset Disposition' means those asset dispositions
                  described in items 19 through 26 in Schedule VII hereto."

                  (ii)     Section 2.04(c) of the Credit Agreement IS hereby
         amended by:

                  (a)      inserting the words "any Amendment Asset
Disposition," after the words in the parenthetical of clause (iii) thereof
"(other than the Refineries in Alaska and Memphis and the assets related
thereto,"; and

                  (b)      deleting the word "of' at the beginning of clause
(iv) thereof, inserting the word "of' at the end of clause (iv) thereof and by
adding to the end thereof a new clause (v):

                           "(v) any Amendment Asset Disposition";

                  (iii)    Section 2.04(c)(B) of the Credit Agreement is hereby
amended by deleting the word "and" at the end of clause (3) thereof, inserting
the word "and" at the end of clause (4) thereof and by adding to the end thereof
a new clause (5):

                  "(5) 70% of any Net Cash Proceeds arising from an asset
                  disposition referred to in clause (v) above shall be held in
                  the Collateral Account (as defined in the Collateral Trust
                  Agreement) by the Collateral Trustee as Collateral Account
                  Collateral (as defined in the Collateral Trust Agreement), and
                  the balance of the Net Cash Proceeds from such Asset
                  Dispositions shall be retained by TWC or its Subsidiaries.
                  Notwithstanding anything in the Collateral Trust Agreement or
                  this Agreement to the contrary, TWC shall not be permitted to
                  deliver a Release Notice (as defined in the Collateral Trust
                  Agreement) with respect to the release of any Net Cash
                  Proceeds deposited into the Collateral Account pursuant to
                  this clause (B)(5) without obtaining the prior written consent
                  of all of the Banks.";

                  (iv)     Section 5 .02(b)(i) of the Credit Agreement is
deleted in its entirety and replaced with the following new Section 5 .02(b)(i):

                  "(i) In the case of TWC, permit the ratio of (A) the aggregate
                  amount of Consolidated Debt of TWC and its Consolidated
                  Subsidiaries to (B) the sum of the Consolidated Net Worth of
                  TWC plus the aggregate amount of Consolidated Debt of TWC and
                  its Consolidated Subsidiaries to exceed at any time (x) on or
                  before December 30, 2002, 0.70 to 1.00, (y) after December 30,
                  2002 and on or before June 30, 2003, 0.68 to 1.00 and (z)
                  after June 30, 2003, 0.65 to 1.00.";

                  (v)      Schedule VII of the Credit Agreement is amended by
inserting Schedule 1 hereto in proper numerical order after item 17 therein;

                  (vi)     Schedule X of the Credit Agreement is deleted in its
entirety and replaced with Schedule X hereto; and

                  (vii)    Section 5.01(e) of the Credit Agreement, is amended
with respect to the Refinery (and the assets related thereto) in Alaska to limit
the Borrowers' obligation to cause an Acceptable Security Interest to be granted
thereover to: (a) Liens already granted and (b) Liens covering the Alaska

<PAGE>

                                       3

refinery facility operated by Williams Alaska Petroleum, Inc. in North Pole,
Alaska including the land leased from The State of Alaska, Department of Natural
Resources, Division of Mining, Lands & Water, Northern Regional Office ('DNR")
pursuant to that certain lease agreement #ADL50824 between The State of Alaska,
Department of Natural Resources, Division of Lands (predecessor-in- interest to
the DNR) and the Energy Company of Alaska (predecessor- in-interest to Williams
Alaska Petroleum, Inc.), dated October 22, 1970, as amended by that certain
Amendment to Lease Agreement #ADL50824 by the DNR, dated December 1, 1998, and
as may otherwise be amended, modified or replaced. Except as is expressly noted
in the preceding sentence, the terms and conditions set out in Section 5.01(e)
of the Credit Agreement shall remain in full force and effect.

                  SECTION 2. Conditions to Effectiveness. The provisions of
Section 1 of this Agreement shall become effective as of the date first above
written (the "Effective Date") when, and only when, the Agent shall have
received confirmation of each of the following, each in form and substance
satisfactory to the Agent:

                  (i)      Execution of Counterparts. The Agent shall have
         received counterparts of this Agreement duly executed by each of the
         Borrowers and the Banks party hereto. For the avoidance of doubt,
         subject to the satisfaction of the other conditions in this Section 3,
         receipt by the Agent of executed counterparts of this Agreement by (a)
         the Majority Banks, for Section 1(iv), (vi) and (vii) of this Agreement
         and the TGT Asset Disposition (as defined in Schedule 1 hereto) and (b)
         all Banks for Section 1(i) through (iii) and (v) (except with regard to
         the TGT Asset Disposition) shall be sufficient consent in accordance
         with the provisions of Section 8.01 of the Credit Agreement.

                  (ii)     Payment of Fees and Expenses. The Agent shall have
         determined that an amendment fee of 0.125% of the Commitment of each
         approving Majority Bank hereto that delivers a duly executed
         counterpart of this Agreement by no later than 5:00 pm (New York time)
         March 28, 2003, and all agency, trustee, custodial, filing service,
         legal and other fees and disbursements incurred and invoiced through
         the day immediately prior to the Effective Date, including all fees of
         the Collateral Trustee and the Agent and their respective counsel,
         shall have been paid in full by the Borrowers.

                  (iii)    No Default. No Default shall have occurred and be
         continuing, other than a Default that shall be cured by the
         effectiveness hereof.

                 (iv) Payment of Advances. Solely with respect to the TGT Asset
         Disposition (as defined on Schedule 1 hereto), the Agent shall have
         received confirmation that all principal, interest and all other
         outstanding amounts of any Advance to TUT shall have been repaid in
         full.

                  SECTION 3. Confirmation of Representations and Warranties.
Each of the Borrowers hereby represents and warrants, on and as of the date
hereof, that the representations and warranties contained in the Credit
Agreement are correct and true in all material respects on and as of the date
hereof, before and after giving effect to this Agreement, as though made on and
as of the date hereof, other than any such representations or warranties that,
by their terms, refer to a specific date.

                  SECTION 4. Reference to and Effect on the Transaction
Documents. (a) On and after the effectiveness of this Agreement, each reference
in the Credit Agreement to "hereunder", "hereof' or words of like import
referring to the Credit Agreement, and each reference in the other transaction

<PAGE>

                                       4

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 modified by this Agreement.

                  (b) On and after the TGT Asset Disposition, (i) each reference
         in any provision, schedule or exhibit ,in the Credit Agreement to "TGT"
         and "Texas Gas Transmission Corporation" shall be removed therefrom,
         (ii) any provision, schedule or exhibit in the Credit Agreement, to the
         extent such provision, schedule or exhibit, applies or relates to "TGT"
         or "Texas Gas Transmission Corporation", shall be of no applicability
         or effect and (iii) the obligations of the Banks to make Advances to
         TGT and the Banks' Commitments to TGT shall terminate.

                  (c) The execution, delivery and effectiveness of this
         Agreement shall not, except as expressly provided herein, operate as a
         waiver of any right, power or remedy of any Bank or the Agent under any
         of the transaction documents, nor constitute a waiver of any provision
         of any of the transaction documents.

                  SECTION 5. Execution in Counterparts. This Agreement 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
Agreement by telecopier shall be effective as delivery of a manually executed
counterpart of this Agreement.

                  SECTION 6. Governing Law. This Agreement shall be governed by,
and construed in accordance with, the laws of the State of New York, and shall
be subject to the jurisdictional and service provisions of the Credit Agreement,
as if this were a part OF the Credit Agreement.

                  SECTION 7. Entire Agreement; Modification This Agreement
constitutes the entire agreement of the parties hereto with respect to the
subject matter hereof, there being no other agreements or understandings, oral,
written or otherwise, respecting such subject matter, any such agreement or
understanding being superseded hereby, shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns, and
may not be amended, extended or otherwise modified, except in a writing executed
in whole or in counterparts by each party hereto.

                              [Signatures follow.]

<PAGE>

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

                                    CITICORP USA, INC., as Agent and as Bank

                                    By: /s/ Todd J. Mogil
                                        ----------------------------------------
                                    Name:   Todd J. Mogil
                                    Title:  Vice President

<PAGE>

                                    JP MORGAN CHASE BANK,
                                    As Co-Syndication Agent and as Bank

                                    By: /s/ Robert W. Traband
                                        ----------------------------------------
                                    Name:   Robert W. Traband
                                    Title:  Vice President

<PAGE>

                                    COMMERZBANK AG,
                                    As Co-Syndication Agent and as Bank

                                    By: /s/ Harry P Yergey
                                        ----------------------------------------
                                    Name:   Harry P. Yergey
                                    Title:  Senior Vice President & Manager

                                    By: /s/ Brian J. Campbell
                                        ----------------------------------------
                                    Name:   Brian J. Campbell
                                    Title:  Senior Vice President

<PAGE>

                                    CREDIT LYONNAIS NEW YORK BRANCH,
                                    As Documentation Agent and as Bank

                                    By: /s/ Olivier Audemard
                                        ----------------------------------------
                                    Name:   Olivier Audemard
                                    Title:  Senior Vice President

<PAGE>

                                    THE BANK OF NOVA SCOTIA, as Bank

                                    By: /s/ M. D. Smith
                                        ----------------------------------------
                                    Name:   M. D. Smith
                                    Title:  Agent

<PAGE>

                                    BANK OF AMERICA, N.A., as Bank

                                    By: /s/ Claire M. Liu
                                        ----------------------------------------
                                    Name:   Claire M. Liu
                                    Title:  Managing Director

<PAGE>

                                    BANK ONE, N.A. (Main Office - Chicago) as
                                    Bank

                                    By: /s/ Brett Hatchett
                                        ----------------------------------------
                                    Name:   Brett Hatchett
                                    Title:  Vice President

<PAGE>

                                    NATIONAL WESTMINSTER BANK PLC,
                                    As Bank

                                    By: /s/ Charles Greer
                                        ----------------------------------------
                                    Name:   Charles Greer
                                    Title:  Senior Vice President

<PAGE>

                                    ABN AMRO BANK, N.V., as Bank

                                    By: /s/ Jamie Conn
                                        ----------------------------------------
                                    Name:   Jamie Conn
                                    Title:  Group Vice President

                                    By: /s/ Frank R. Russo, Jr.
                                        ----------------------------------------
                                    Name:   Frank R. Russo, Jr.
                                    Title:  Group Vice President

<PAGE>

                                    BANK OF MONTREAL, as Bank

                                    By: /s/ MaryLee Latta
                                        ----------------------------------------
                                    Name:   MaryLee Latta
                                    Title:  Director

<PAGE>

                                    THE BANK OF NEW YORK, as Bank

                                    By: /s/ Lizanne T. Eberle
                                        ----------------------------------------
                                    Name:   Lizanne T. Eberle
                                    Title:  Vice President

<PAGE>

                                    BARCLAYS BANK PLC, as Bank

                                    By: /s/ Nicholas A. Bell
                                        ----------------------------------------
                                    Name:   Nicholas A. Bell
                                    Title:  Director
                                            Loan Transaction Management

<PAGE>

                                    CIBC INC., as Bank

                                    By: /s/ Mercedes M. Arango
                                        ----------------------------------------
                                    Name:   Mercedes M. Arango
                                    Title:  Executive Director

<PAGE>

                                    CREDIT SUISSEE FIRST BOSTON, as Bank

                                    By: /s/ James P. Morgan
                                        ----------------------------------------
                                    Name:   James P. Morgan
                                    Title:  Director

                                    By: /s/ Ian W. Halitt
                                        ----------------------------------------
                                    Name:   Ian W. Halitt
                                    Title:  Associate

<PAGE>

                                    ROYAL BANK OF CANADA, as Bank

                                    By: /s/ Peter Barnes
                                        ----------------------------------------
                                    Name:   Peter Barnes
                                    Title:  Senior Manager

<PAGE>

                                    THE BANK OF TOKYO MITSUBISHI, LTD.,
                                    HOUSTON AGENCY, as Bank

                                    By: /s/ K. Glasscock
                                        ----------------------------------------
                                    Name:   K. Glasscock
                                    Title:  VP & Manager

                                    By: /s/ J. Fort
                                        ----------------------------------------
                                    Name:   J. Fort
                                    Title:  Vice President

<PAGE>

                                    FLEET NATIONAL BANK
                                    (f/k/a BANK BOSTON, N.A.), as Bank

                                    By: /s/ Matthew M. Speh
                                        ----------------------------------------
                                    Name:   Matthew M. Speh
                                    Title:  Authorized Officer

<PAGE>

                                    SOCIETE GENERALE, Southwest Agency, as
                                    Bank

                                    By: /s/ J. Douglas McMurrey, Jr.
                                        ----------------------------------------
                                    Name:   J. Douglas McMurrey, Jr.
                                    Title:  Managing Director

<PAGE>

                                    TORONTO DOMINION (TEXAS), INC., as
                                    Bank

                                    By: /s/ Jill Hall
                                        ----------------------------------------
                                    Name:   Jill Hall
                                    Title:  Vice President

<PAGE>

                                    UBS AG, STAMFORD BRANCH, as Bank

                                    By: /s/ Kelly Smith
                                        ----------------------------------------
                                    Name:   Kelly Smith
                                    Title:  Recovery Management

                                    By: /s/ David J. Kalal
                                       -----------------------------------------
                                    Name:   David J. Kalal
                                    Title:  Recovery Management

<PAGE>

                                    WELLS FARGO BANK TEXAS, N.A.,
                                    as Bank

                                    By: /s/ J. Alan Alexander
                                        ----------------------------------------
                                    Name:   J. Alan Alexander
                                    Title:  Vice President

<PAGE>

                                    WESTLB AG, NEW YORK BRANCH,
                                    as Bank

                                    By: /s/ Salvatore Battinelli
                                        ----------------------------------------
                                    Name:   Salvatore Battinelli
                                    Title:  Managing Director
                                            Credit Department

                                    By: /s/ Duncan M. Robertson
                                        ----------------------------------------
                                    Name:   Duncan M. Robertson
                                    Title:  Director

<PAGE>

                                    CREDIT AGRICOLE INDOSUEZ, as Bank

                                    By: /s/ Michael R. Quiray
                                        ----------------------------------------
                                    Name:   Michael R. Quiray
                                    Title:  Vice President

                                    By: /s/ Michael D. Willis
                                        ----------------------------------------
                                    Name:   Michael D. Willis
                                    Title:  Vice President

<PAGE>

                                    SUNTRUST BANK, as Bank

                                    By: /s/ J. Scott Deviney
                                        ----------------------------------------
                                    Name:   J. Scott Deviney
                                    Title:  Vice President

<PAGE>

                                    ARAB BANKING CORPORATION (B.S.C.),
                                    As Bank

                                    By: /s/ Robert J. Ivosevich
                                        ----------------------------------------
                                    Name:   Robert J. Ivosevich
                                    Title:  Deputy General Manager

                                    By: /s/ Barbara C. Sanderson
                                        ----------------------------------------
                                    Name:   Barbara C. Sanderson
                                    Title:  VP Head of Credit

<PAGE>

                                  BANK OF CHINA                  NEW YORK BRANCH

                                 March 20, 2003

CONFIDENTIAL

Via Telecopier (302) 894-6120

Citicorp USA, Inc.
399 Park Avenue
New York, New York 10043

Attention:   The Williams Companies, Inc. Account Officer

         Re: Amendment, dated as of March 28, 2003 (the "Amendment"), under the
             First Amended and Restated Credit Agreement, dated as of October
             31, 2002, as modified by the Consent and Waiver dated as of
             January 22, 2003 (as so modified, the "Credit Agreement"), among
             The Williams Companies, Inc., Northwest Pipeline Corporation,
             Transcontinental Gas Pipe Line Corporation, and Texas Gas
             Transmission Corporation, as Borrowers, the Banks named therein,
             JPMorgan Chase Bank, and Commerzbank AG, as Co-Syndication Agents,
             Credit Lyonnais New York Branch, as Documentation Agent, and
             Citicorp USA, Inc., as Agent

Ladies and Gentlemen:

                  We have notified you that, first, we do not believe we have an
obligation to make Advances under the Credit Agreement and, second, the
Amendment cannot be adopted without our consent. Since, at this time, we
continue to believe that we have no obligation to fund Advances under the Credit
Agreement given the material adverse changes at The Williams Companies, Inc.
and, moreover, since we do not consent to the Credit Agreement, we will not
execute and deliver the proposed Amendment as presented to us at this time.

                 Nonetheless, we are aware of the Borrowers' and our position as
to the need to obtain the releases and to amend the Credit Agreement to permit
the transactions contemplated by the Amendment. Therefore, reserving our rights
and positions set our prior notices to the Agent, we hereby agree and consent to
those pc Amendment that would not otherwise become effective unless our
agreement received.

<PAGE>

                                    Very truly yours,

                                    BANK OF CHINA

                                    By: /s/ William Warren Smith
                                        ----------------------------------------
                                    Name:   William Warren Smith
                                    Title:  Chief Loan Officer

cc:      BY MAIL AND TELECOPIER (7I3-654-2849)
         Citicorp North America, Inc.
         1200 Smith Street, Suite 2000
         Houston Texas  77002
         Attention:   The Williams Companies, Inc., Account Officer

<PAGE>

                                    BANK OF OKLAHOMA, N.A., as Bank

                                    By: /s/ Robert A. Mattax
                                        ----------------------------------------
                                    Name:   Robert A. Mattax
                                    Title:  Senior Vice President

<PAGE>

                                    BNP PARIBAS, HOUSTON AGENCY, as Bank

                                    By: /s/ Larry Robinson
                                        ----------------------------------------
                                    Name:   Larry Robinson
                                    Title:  Director

                                    By: /s/ Mark A. Cox
                                        ----------------------------------------
                                    Name:   Mark A. Cox
                                    Title:  Director

<PAGE>

                                    DZ BANK AG DEUTSCHE ZENTRAL-
                                    GENOSSENSCHAFTSBANK, NEW YORK
                                    BRANCH, as Bank

                                    By: /s/ William A. Klun
                                        ----------------------------------------
                                    Name:   William A. Klun
                                    Title:  Vice President

                                    By: /s/ Nancy J. O'Conner
                                        ----------------------------------------
                                    Name:   Nancy J. O'Conner
                                    Title:  Vice President

<PAGE>

                                    KBC BANK N.V., as Bank

                                    By: /s/ Michael V. Curran
                                        ----------------------------------------
                                    Name:   Michael V. Curran
                                    Title:  Vice President

                                    By: /s/ Eric Raskin
                                        ----------------------------------------
                                    Name:   Eric Raskin
                                    Title:  Vice President

<PAGE>

                                    MIZUHO CORPORATION BANK, LIMITED, NEW
                                    YORK BRANCH, as Bank

                                    By: /s/ Noel Purcell
                                        ----------------------------------------
                                    Name:   Noel Purcell
                                    Title:  SVP & Department Head

<PAGE>

                                    WACHOVIA BANK, NATIONAL
                                    ASSOCIATION, as Bank

                                    By: /s/ David E. Humphreys
                                        ----------------------------------------
                                    Name:   David E. Humphreys
                                    Title:  Vice President

<PAGE>

                                    COMMERCE BANK, N.A., as Bank

                                    By: /s/ Joseph McCaddon
                                        ----------------------------------------
                                    Name:   Joseph McCaddon
                                    Title:  Senior Vice President

<PAGE>

                                 March 28, 2003

CONFIDENTIAL

Via Telecopier (302) 894-6120

Citicorp USA, Inc.
399 Park Avenue
New York, New York 10043

Attention: The Williams Companies, Inc. Account Officer

         Re: Amendment, dated as of March 28, 2003 (the "Amendment"), under the
         First Amended and Restated Credit Agreement dated October 31, 2002, as
         modified by the Consent and Waiver dated as of January 22, 2003, among
         The Williams Companies, Inc., Northwest Pipeline Corporation,
         Transcontinental Gas Pipe Line Corporation, and Texas Gas Transmission
         Corporation, as Borrowers, the Banks named therein, JPMorgan Chase
         Bank, and Commerzbank AG, as Co-Syndication Agents, Credit Lyonnais New
         York Branch, as Documentation Agent, and Citicorp USA, Inc., as Agent
         (the "Credit Agreement")

Ladies and Gentlemen:

                We have notified you that, first, we do not believe we have an
obligation at this time to make Advances to The Williams Companies, Inc. under
the predecessor to the Credit Agreement given the material adverse changes at
The Williams Companies, Inc. and, second, we did not execute and deliver the
Credit Agreement Nonetheless, we are aware of the Borrowers' and your position
as to the need to obtain the releases described in the Amendment in order (i) to
amend the Credit Agreement to permit the asset dispositions as contemplated by
the Amendment; and (ii) to amend the Credit Agreement to permit the other
modifications contemplated by the Amendment. Therefore, reserving our rights and
positions set forth in our prior notices to the Agent, we hereby consent to
those provisions of the Amendment that would not otherwise become effective
unless our consent is received.

<PAGE>

                                    Very truly yours,

                                    RZB FINANCE, LLC

                                    By: /s/ John A. Valiska
                                        ----------------------------------------
                                    Name:   John A. Valiska
                                    Title:  Group Vice President

                                    By: /s/ Elisabeth Hirst
                                        ----------------------------------------
                                    Name:   Elisabeth Hirst
                                    Title:  Assistant Vice President

Cc:      BY MAIL AND TELECOPIER (713-654-2849)
         Citicorp North America, Inc.
         1200 Smith Street, Suite 2000
         Houston, Texas 77002
         Attention:  The Williams Companies, Inc., Account Officer

<PAGE>

                                    SUMITOMO MITSUI BANKING
                                    CORPORATION, as Bank

                                    By: /s/ Leo E. Pagarigan
                                        ----------------------------------------
                                    Name:   Leo E. Pagarigan
                                    Title:  Senior Vice President

<PAGE>

Acknowledged and Agreed:

THE WILLIAMS COMPANIES, INC.

By: /s/ James G. Ivey
    --------------------------------
Name:   James G. Ivey
Title:

TEXAS GAS TRANSMISSION CORPORATION

By: /s/ James G. Ivey
   --------------------------------------------------
Name:   James G. Ivey
Title:

TRANSCONTINENTAL GAS PIPE LINE CORPORATION

By: /s/ James G. Ivey
    --------------------------------------------------
Name:   James G. Ivey
Title:

NORTHWEST PIEPLIE CORPORATION

By: /s/ James G. Ivey
    --------------------------------------------------
Name:   James G. Ivey
Title:

<PAGE>

                                   SCHEDULE I

                               ASSET DISPOSITIONS

18. Texas Gas Transmission Corporation

    -    Equity Interests and assets of Texas Gas Transmission Corporation
         (the "TGT Asset Disposition')

19. MLP (Collateral)

    -    Equity Interests and assets of Williams GP LLC, WEG GP, LLC and the MLP
         including, notwithstanding item 16 of Schedule VII, the Class B Units
         in the MLP

20. Liquid Pipelines (Collateral)

    -    Equity Interests and assets of Rio Grande Pipeline Company

    -    Equity Interests and assets of West Texas LPG Pipeline Limited
         Partnership

    -    Equity Interests and assets of Tn-States NGL Pipeline, L.L.C.

    -    Equity Interests and assets of WJLPRISE Pipeline Company, L.L.C.

21. North High Island Package (Collateral)

         Black Marlin Pipeline System

    -    Equity Interests and assets of Black Marlin Pipeline Company

    -    High Island A-5 Gathering Lateral

         North High Island

    -    High Island 199 Gathering Lateral

    -    High Island 169 to 109 Gathering Lateral and the platform at High
         Island 157

    -    HI-BOL Pipeline extending approximately from HI-Block A-22 to HI-Block
         98

    -    West Cameron 61 Gathering Lateral

    Cameron Meadows and Station 44

    -    Cameron Meadows and Johnson Bayou Gas Processing Plants and Separation
           and Dehydration Facilities at Station 44

22. All rights and related interests owned by TWC or any Subsidiary of TWC in
    the Vermillion Gas Processing Plant (Collateral)

23. All of the assets of and related interests owned by TWC or any Subsidiary
    of TWC in the Sulphur Mines Storage Facilities in Calcasieu Parish,
    Louisiana, including, without limitation, contracts related to these assets
    between Williams Midstream Natural Gas Liquids, Inc. and various third
    parties (Collateral)

24. All rights to and related interests owned by TWC or any Subsidiary of TWC,
    in the contracts related to the Geismar, Louisiana olefins facility and
    pipelines, including, without limitation, contracts

<PAGE>

    related to these assets between EMT, Williams Midstream Natural Gas Liquids,
    Inc. and Williams Midstream Marketing & Risk Management, respectively and
    individually, and various third parties, and all rights to and related
    interests owned by TWC or any Subsidiary of TWC in the contracts related to
    olefins storage in Mont Belvieu, Texas, including, without limitation,
    contracts related to these assets between EMT and various third parties
    (Collateral)

25. All of the assets of Wiljet, L.L.C. and all of the Equity Interests of
    Wiljet, L.L.C. owned by TWC or any Subsidiary of TWC, and all of TWC's an!
    Subsidiaries'  of TWC interest in and assets related to the 57 North
    ~ Avenue, Phoenix, Arizona  85043  terminal located in Phoenix and
    commonly known as the "57th Avenue Terminal" currently leased to Wiljet,
    L.L.C. (Collateral)

26. All assets related to TWC's or its Subsidiaries' domestic crude oil
    gathering, blending and marketing business (the "Gathering and Marketing
    Business"), including, without limitation, all rights to and related
    interests owned by TWC or a Subsidiary in the Terrebonne (a.k.a. Bayou
    Black) Pipeline and all contracts related to the Gathering and Marketing
    Business (Collateral)

<PAGE>

                                   Schedule X

                                   COMMITMENTS

<TABLE>
<CAPTION>
                                         TWC                     NWP                  TGPL                   TGT
              Banks                   Commitment             Commitment            Commitment            Commitment
                                   ---------------        ---------------        ---------------      ---------------
<S>                                <C>                    <C>                    <C>                  <C>
Mizuho Corporate Bank, Ltd.        $ 35,500,000.00        $ 35,500,000.00        $ 35,500,000.00      $ 17,750,000.00
The Bank of Nova Scotia              17,083,333.33          17,083,333.33          17,083,333.33         8,541,666.67
Bank of America, NA.                 17,083,333.33          17,083,333.33          17,083,333.33         8,541,666.67
Bank One, N.A.                       17,083,333.33          17,083,333.33          17,083,333.33         8,541,666.67
JPMorgan Chase Bank (f/k/a The
Chase Manhattan)                     17,083,333.33          17,083,333.33          17,083,333.33         8,541,666.67
Citicorp USA, Inc.                   17,083,333.33          17,083,333.33          17,083,333.33         8,541,666.67
Commerzbank AG                       17,083,333.33          17,083,333.33          17,083,333.33         8,541,666.67
Credit Lyonnais New York Branch      17,083,333.33          17,083,333.33          17,083,333.33         8,541,666.67
National Westminster Bank PLC        17,083,333.33          17,083,333.33          17,083,333.33         8,541,666.67
ABN Amro Bank N.Y.                   14,000,000.00          14,000,000.00          14,000,000.00         7,000,000.00
Bank of Montreal                     14,000,000.00          14,000,000.00          14,000,000.00         7,000,000.00
The Bank of New York                 14,000,000.00          14,000,000.00          14,000,000.00         7,000,000.00
Barclays Bank PLC                    14,000,000.00          14,000,000.00          14,000,000.00         7,000,000.00
CIBC Inc.                            14,000,000.00          14,000,000.00          14,000,000.00         7,000,000.00
Credit Suisse First Boston           14,000,000.00          14,000,000.00          14,000,000.00         7,000,000.00
Royal Bank of Canada                 14,000,000.00          14,000,000.00          14,000,000.00         7,000,000.00
The Bank of Tokyo.Mitsubishi, Ltd.   11,833,333.33          11,833,333.33          11,833,333.33         5,916,666.67
Fleet National Bank                  11,833,333.33          11,833,333.33          11,833,333.33         5,916,666.67
Societe Generale                     11,833,333.33          11,833,333.33          11,833,333.33         5,916,666.67
Toronto Dominion (Texas) Inc.        11,833,333.33          11,833,333.33          11,833,333.33         5,916,666.67
UBS AG, Stamford Branch              11,833,333.33          11,833,333.33          11,833,333.33         5,916,666.67
wells Fargo Bank Texas, N.A.         11,833,333.33          11,833,333.33          11,833,333.33         5,916,666.67
WestLB AG, New York Branch           11,833,333.33          11,833,333.33          11,833,333.33         5,916,666.67
Credit Agricole Indosuez              6,583,333.34           6,583,333.34           6,583,333.34         3,291,666.64
Wachovia Bank, National Association   4,285,714.42           4,285,714.42           4,285,714.42         2,142,857.20
Arab Banking Corporation (B.S.C.)     4,125,000.00           4,125,000.00           4,125,000.00         2,062,500.00
Bank of China                         4,125,000.00           4,125,000.00           4,125,000.00         2,062,500.00
Bank of Oklahoma, NA.                 4,125,000.00           4,125,000.00           4,125,000.00         2,062,500.00
BNP Paribas                           4,125,000.00           4,125,000.00           4,125,000.00         2,062,500.00
DZ Bank AG                            4,125,000.00           4,125,000.00           4,125,000.00         2,062,500.00
KBC Bank NV.                          4,125,000.00           4,125,000.00           4,125,000.00         2,062,500.00
Sumitomo Mitsui Banking
Corporation                           4,125,000.00           4,125,000.00           4,125,000.00         2,062,500.00
RZB Finance, LLC                      2,479,166.68           2,479,166.68           2,479,166.68         1,239,583.33
Commerce Bank, NA.                    2,479,166.68           2,479,166.68           2,479,166.68         1,239,583.33
Suntrust Bank                         2,297,618.93           2,297,618.93           2,297,618.93         1,148,809.45
TOTAL                              $400,000,000.00        $400,000,000.00        $400,000,000.00      $200,000,000.00
</TABLE><PAGE>
                                                                    EXHIBIT 10.1

                THIRD AMENDMENT TO CREDIT AND SECURITY AGREEMENT

         This Third Amendment to Credit and Security Agreement (this
"Amendment") made as of February 17, 2003 among THOMAS & BETTS CORPORATION, as
Borrower (the "Borrower"), the various financial institutions whose names appear
as lenders on the signature pages to the Credit Agreement (as defined below)
(together with any other financial institution which subsequently becomes a
lender under the Credit Agreement, the "Lenders"), and WACHOVIA BANK, NATIONAL
ASSOCIATION, as Agent (the "Agent").

                                   WITNESSETH:

         WHEREAS, the Borrower, the Lenders and the Agent are parties to that
certain Credit and Security Agreement, dated as of November 15, 2001, as amended
by that certain First Amendment to Credit and Security Agreement and Agreement
to Release, dated as of March 25, 2002, as further amended by that certain
Second Amendment to Credit and Security Agreement, dated as of June 21, 2002 (as
further amended, restated, supplemented or otherwise modified from time to time,
the "Credit Agreement"); and

         WHEREAS, the Borrower has requested certain amendments to the Credit
Agreement, and the Required Lenders and the Agent have agreed to such amendments
on the terms and conditions set forth herein;

         NOW, THEREFORE, in consideration of the premises set forth above, the
terms and conditions contained herein and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties agree
that all capitalized terms used but not otherwise defined herein shall have the
meanings ascribed thereto in the Credit Agreement, as amended hereby, and
further agree as follows:

         1. AMENDMENTS TO CREDIT AGREEMENT. Subject to the fulfillment of the
conditions precedent to the effectiveness of this Amendment which are set forth
below, the Credit Agreement shall be amended as follows:

                  (a) Section 2.15 of the Credit Agreement, Issuance of Letters
of Credit, is hereby amended by deleting in its entirety Section 2.15 and
inserting the following in lieu thereof:

                  "Issuance of Letters of Credit. Subject to the terms and
                  conditions of this Agreement, and in reliance upon the
                  representations and warranties of the Borrower herein set
                  forth, Wachovia shall issue for the account of the Borrower,
                  one or more Letters of Credit denominated in Dollars, in
                  accordance with this ARTICLE 2, from time to time during the
                  period commencing on the Closing Date and ending on the
                  Domestic Business Day prior to the Termination Date; provided,
                  however, that any Letter of Credit (including any Closing
                  Date Letter of Credit) may be issued, renewed or re-issued so
                  long as

                                      -1-
<PAGE>

                  the expiration date thereof, as so extended or renewed, does
                  not extend beyond the date which is thirteen (13) months
                  following the Termination Date."

                  (b) Section 6.01 of the Credit Agreement, Events of Default,
is hereby amended by deleting therefrom the last sentence thereof and inserting
the following in lieu thereof:

                  "In no event may any Lender or Lenders exercise any rights,
                  remedies or powers with respect to the Obligations, this
                  Credit Agreement and the other Credit Documents without the
                  consent of the Agent and the Required Lenders; provided that
                  with respect to any Obligations arising under any Interest
                  Rate Protection Agreement or ForEx Contract, any Lender or
                  Lenders, or Affiliates thereof, party to such Interest Rate
                  Protection Agreement or ForEx Contract may terminate such
                  Interest Rate Protection Agreement or ForEx Contract without
                  the consent of the Agent or the Required Lenders."

                  (c) Section 10.06(a) of the Credit Agreement, Amendments and
Waivers, is hereby amended by deleting the final period therein and inserting
the following in lieu thereof:

                  ";provided further that, the consent of the Required Lenders
                  shall not be required with respect to any amendment to, or
                  waiver of, any Interest Rate Protection Agreement or ForEx
                  Contract."

         2. NO WAIVER. The execution, delivery and effectiveness of this
Amendment shall not, except as expressly provided above, operate as a waiver of
any right, power or remedy of the Agent or the Lenders under the Credit
Agreement or any of the other Credit Documents, nor constitute a waiver of any
provision of the Credit Agreement or any of the other Credit Documents. Except
for the amendments expressly set forth above and delivered in connection
herewith, the text of the Credit Agreement and all other Credit Documents shall
remain unchanged and in full force and effect and the Borrower hereby ratifies
and confirms its obligations thereunder. This Amendment shall not constitute a
modification of the Credit Agreement or a course of dealing with the Agent or
the Lenders at variance with the Credit Agreement such as to require further
notice by the Agent or the Lenders to require strict compliance with the terms
of the Credit Agreement and the other Credit Documents in the future. Nothing in
this Amendment is intended, or shall be construed, to constitute a novation or
an accord and satisfaction of any of the Obligations or to modify, affect or
impair the perfection or continuity of the Agent's and the Lenders' security
interests in, security titles to, or other Liens on, any Collateral for the
Obligations, other than as expressly set forth herein.

         3. CONDITIONS OF EFFECTIVENESS. This Amendment shall become effective
as of the date hereof when, and only when, the Agent, on behalf of itself and
the Lenders, shall have received, in form and substance reasonably satisfactory
to it:

                                       -2-

<PAGE>

                  (a) duly executed counterparts of this Amendment;

                  (b) duly executed counterparts to the First Amendment to
Subsidiary Guaranty and First Amendment to Subsidiary Security Agreement; and

                  (c) such other information, documents, instruments or
approvals as the Agent may require, in form and substance reasonably
satisfactory to Agent.

         4. REPRESENTATIONS AND WARRANTIES OF THE BORROWER. The Borrower
represents and warrants as follows:

                  (a) The Borrower is a corporation duly organized, validly
existing and in good standing under the laws of the State of Tennessee;

                  (b) The execution, delivery and performance by the Borrower of
this Amendment and the Credit Documents, as amended hereby, are within the
Borrower's corporate powers, have been duly authorized by all necessary
corporate action and do not contravene (i) the Borrower's organizational
documents, (ii) law; or (iii) or any contractual restriction binding on or
affecting the Borrower;

                  (c) This Amendment and each of the other Credit Documents, as
amended hereby, constitute legal, valid and binding obligations of the Borrower,
enforceable against the Borrower in accordance with their respective terms,
provided that the enforceability hereof and thereof is subject in each case to
general principles of equity and to bankruptcy, insolvency and similar laws
affecting the enforcement of creditors' rights generally; and

                  (d) No Default or Event of Default has occurred and is
continuing as of this date under the Credit Agreement as amended by this
Amendment.

         5. CONSENT TO AMENDMENTS TO CREDIT DOCUMENTS. Pursuant to Section
10.06(a) of the Credit Agreement, the Required Lenders hereby consent to that
certain First Amendment to Subsidiary Guaranty and First Amendment to Subsidiary
Security Agreement, each substantially in the form attached hereto as Exhibit A
and B respectively.

         6. REFERENCE TO AND EFFECT ON THE CREDIT DOCUMENTS. Upon the
effectiveness of this Amendment, on and after the date hereof 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 other Credit
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 hereby.

         7. COSTS, EXPENSES AND TAXES. The Borrower agrees to pay on demand all
reasonable costs and expenses in connection with the preparation, execution,
delivery, administration, modification and amendment of this Amendment and the
other instruments and documents to be delivered hereunder, including, without
limitation, the reasonable fees

                                       -3-
<PAGE>

and out-of-pocket expenses of counsel for the Agent with respect thereto and
with respect to advising the Agent as to its rights and responsibilities
hereunder and thereunder.

         8. GOVERNING LAW. This Amendment shall be governed by and construed in
accordance with the laws of the State of New York.

         9. CREDIT DOCUMENT. This amendment shall be deemed to be a Credit
Document for all purposes.

         10. COUNTERPARTS. This Amendment may be executed by one or more of the
parties hereto on any number of separate counterparts, each of which shall be
deemed an original and all of which, taken together, shall be deemed to
constitute one and the same instrument. Delivery of an executed counterpart of
this Amendment by facsimile transmission shall be as effective as delivery of a
manually executed counterpart hereof and shall be deemed to be a writing for all
purposes.

                  [remainder of page intentionally left blank]

                                       -4-
<PAGE>

                 IN WITNESS WHEREOF, the parties hereto have caused their
respective duly authorized officers or representatives to execute and deliver
this Amendment as of the day and year first written above.

                                                  THOMAS & BETTS CORPORATION

                                                  By: /s/ THOMAS C. OVIATT
                                                      ------------------------
                                                  Name:  Thomas C. Oviatt
                                                  Title: Treasurer

                                                  8155 T&B Boulevard
                                                  Memphis, TN 38125
                                                  Facsimile:  901-252-1372

Third Amendment to Credit and Security Agreement

<PAGE>
                                           WACHOVIA BANK, NATIONAL
                                           ASSOCIATION, as Agent and as a Lender

                                           By: /s/ W. EUGENE WILSON
                                               ------------------------------
                                               Name:  W. Eugene Wilson
                                               Title: Director

                                           Lending Office
                                           Wachovia Bank, N.A.
                                           191 Peachtree Street, N.E.
                                           Atlanta, GA 30303-1757
                                           Attention:  Asset Based Lending
                                           Facsimile:  404-332-6920

Third Amendment to Credit and Security Agreement

<PAGE>
                                           FLEET CAPITAL CORPORATION,
                                           as a Lender

                                           BY: /s/ CHRISTOPHER K. NAIRNE
                                               ---------------------------------
                                               Name:  Christopher K. Nairne
                                               Title: Vice President

                                           Lending Office
                                           Fleet Capital Corporation
                                           300 Galleria Parkway, N.W.
                                           Atlanta, GA 30339
                                           Attention:  Christopher K. Nairne,
                                                       Vice President
                                           Facsimile:  770-857-2947

Third Amendment to Credit and Security Agreement

<PAGE>

                                            SIEMENS FINANCIAL SERVICES,
                                            INC., as a Lender

                                            By: /s/ FRANK AMODIO
                                                --------------------------------
                                                Name:  Frank Amodio
                                                Title: Vice President - Credit

                                            Lending Office
                                            Siemens Financial Services, Inc.
                                            200 Somerset Corporate Boulevard
                                            Bridgewater, NJ 08807-2843
                                            Attention:  Mark Picillo
                                            Facsimile:  908-575-4060

Third Amendment to Credit and Security Agreement

<PAGE>

                                         CIBC INC., as a Lender

                                         By: /s/ DOMINIC J. SORRESSO
                                             -----------------------------------
                                             Name:  Dominic J. Sorresso
                                             Title: Executive Director
                                             CIBC World Markets Corp., as Agent

                                         Lending Office
                                         CIBC Inc.
                                         425 Lexington Avenue
                                         New York, NY 10017
                                         Attention:  Clare Coyne
                                                     Senior Associate
                                         Facsimile:  770-319-4950

Third Amendment to Credit and Security Agreement

<PAGE>

                                         THE NORTHERN TRUST COMPANY,
                                         as a Lender

                                         By: /s/ CHRIS MCKEAN
                                             -----------------------------------
                                             Name:  Chris McKean
                                             Title: Second Vice President

                                         Lending Office
                                         The Northern Trust Company
                                         50 S. LaSalle
                                         Chicago, IL 60675
                                         Attention:  Christopher L. McKean,
                                                     Second Vice President
                                         Facsimile:  312-444-5055

Third Amendment to Credit and Security Agreement

<PAGE>
                                         KBC BANK N.V., as a Lender

                                         By: /s/ ROBERT SNAUFFER
                                             -----------------------------------
                                             Name:  Robert Snauffer
                                             Title: First Vice President

                                         By: /s/ ERIC RASKIN
                                             -----------------------------------
                                             Name:  Eric Raskin
                                             Title: Vice President

                                         Lending Office
                                         KBC Bank N.V.
                                         245 Peachtree Center Avenue
                                         Marquis One Tower, Suite 2550
                                         Atlanta, GA 30303
                                         Attention: Jackie Brunetto,
                                                    Vice President
                                         Facsimile: 404-584-5465

Third Amendment to Credit and Security Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00051-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00051-of-00352.parquet"}]]