Document:

EX-10.14

 Exhibit 10.14 
 THE WILLIAMS COMPANIES, INC. 
 AMENDED AND RESTATED 

CHANGE IN CONTROL SEVERANCE AGREEMENT 

(TIER ONE EXECUTIVES) 

 THE WILLIAMS COMPANIES, INC.

 AMENDED AND RESTATED 

CHANGE IN CONTROL SEVERANCE AGREEMENT 

(TIER ONE EXECUTIVES) 

TABLE OF CONTENTS 

 

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

  
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	 1.37 Reorganization Transaction
	  	 	9	  
	 1.38 Restricted Shares
	  	 	9	  
	 1.39 SEC
	  	 	9	  
	 1.40 Section
	  	 	9	  
	 1.41 Separation from Service
	  	 	9	  
	 1.42 Stock Options
	  	 	9	  
	 1.43 Subsidiary
	  	 	10	  
	 1.44 Surviving Corporation
	  	 	10	  
	 1.45 Target Annual Bonus
	  	 	10	  
	 1.46 Taxes
	  	 	10	  
	 1.47 Termination Date
	  	 	10	  
	 1.48 Voting Securities
	  	 	10	  
	 1.49 Williams
	  	 	10	  
	 1.50 Williams Incumbent Directors
	  	 	11	  
	 1.51 Williams Parties
	  	 	11	  
	 1.52 Work Product
	  	 	11	  
		
	 Article II Williams’ Obligations Upon Separation from Service
	  	 	11	  
		
	 2.1 If By Executive for Good Reason or By an Employer Other Than for Cause, Disability or Disqualifying
Disaggregation
	  	 	11	  
	 2.2 If by the Employer for Cause
	  	 	13	  
	 2.3 If by Executive Other Than for Good Reason
	  	 	14	  
	 2.4 If by Death or Disability
	  	 	14	  
	 2.5 Waiver and Release
	  	 	15	  
	 2.6 Breach of Covenants
	  	 	15	  
		
	 Article III Certain Additional Payments by Williams
	  	 	15	  
		
	 3.1 Potential Benefit Adjustments
	  	 	15	  
	 3.2 3.2 Implementation of Calculations and Any Benefit Reduction Under Section 3.1
	  	 	16	  
		
	 Article IV Expenses and Interest
	  	 	16	  
		
	 4.1 Legal and Other Expenses
	  	 	16	  
	 4.2 Interest
	  	 	17	  
		
	 Article V No Set-off or Mitigation
	  	 	17	  
		
	 5.1 No Set-off by Williams
	  	 	17	  
	 5.2 No Mitigation
	  	 	18	  
		
	 Article VI Restrictive Covenants
	  	 	18	  
		
	 6.1 Confidential Information
	  	 	18	  
	 6.2 Non-Competition
	  	 	18	  
	 6.3 Non-Solicitation
	  	 	19	  
	 6.4 Intellectual Property
	  	 	19	  
	 6.5 Non-Disparagement
	  	 	21	  
	 6.6 Reasonableness of Restrictive Covenants
	  	 	21	  

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

  
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 Exhibit 10.14 
 THE WILLIAMS COMPANIES, INC. 
 AMENDED AND RESTATED CHANGE-IN-CONTROL SEVERANCE AGREEMENT 

THIS AMENDED AND RESTATED AGREEMENT dated as of             ,
20             (the “Agreement Date”) is made by and between The Williams Companies, Inc., a corporation incorporated under the laws of the State of Delaware
(“Williams”, together with its subsidiaries, affiliates and successors thereto ) and [INSERT EXECUTIVE NAME] (“Executive”). 
 RECITALS 
 The Board of Directors of Williams (the
“Board”) has determined that it is in the best interests of Williams and its shareholders to encourage and motivate the Executive to devote his full attention to the performance of his assigned duties without the distraction of
concerns regarding his involuntary or constructive termination of employment due to a Change in Control of Williams. The Executive is employed by Williams or a Subsidiary and may from time to time be employed by one or more Subsidiaries. Williams
and its Subsidiaries believe that it is in the best interest of the Executive, their customers, the communities they serve, and the stockholders of Williams to provide financial assistance through severance payments and other benefits to Executive
if Executive is involuntarily or constructively terminated upon or within a certain period after a Change in Control. This Agreement is intended to accomplish these objectives. 

This Agreement supersedes and replaces all other written or oral exchanges, agreements, understandings, or arrangements between or among
Executive and Williams and/or the Subsidiary entered into prior to the date hereof and relating to severance or benefits in relation to a Change in Control, including, but not limited to The Williams Companies, Inc. Change in Control Severance
Protection Plan as effective January 1, 1990 and amended and restated June 1, 1999 and any prior Change-in-Control Severance Agreement by and between Williams and the Executive, but excluding The Williams Companies Retirement Restoration
Plan and any agreements and plans awarding Stock Options and Restricted Shares. Each superseded agreement or understanding is void and of no further force and effect. 
 Article I. 
 Definitions 

As used in this Agreement, the terms specified below shall have the following meanings: 

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

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

1.9 “Base Salary” means annual base salary in effect on the Termination Date, disregarding any reduction that would
qualify as Good Reason. 

  
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 1.10 “Beneficial Owner” means such term as defined in Rule 13d-3 of the SEC
under the Exchange Act. 
 1.11 “Beneficiary” — see Section 9.3. 

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

  
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 further provided that, for purposes of clauses (b) through (e) if an act, or a failure to act,
which was done, or omitted to be done, by Executive in good faith and with a reasonable belief, after reasonable investigation, that Executive’s act, or failure to act, was in the best interests of Williams, the Subsidiary or an Affiliate or
was required by applicable law or administrative regulation, such breach shall not constitute Cause if, within 10 business days after Executive is given written notice of such breach that specifically refers to this Section, Executive cures such
breach to the fullest extent that it is curable. With respect to the above definition of “cause”, no act or conduct by Executive will constitute “cause” if Executive acted: (i) in accordance with the instructions or advice
of counsel representing Williams or there was a conflict such that Executive could not consult with counsel representing Williams other qualified counsel, or (ii) as required by legal process. 

1.14 “Cause Determination” —see Section 2.2(b)(iv) 

1.15 “Change Date” means the date on which a Change in Control first occurs during the Agreement Term. 

1.16 “Change in Control” means, except as otherwise provided below, the occurrence of any one or more of the following
during the Agreement Term: 
 (a) any person (as such term is used in Rule 13d-5 of the SEC under the Exchange
Act) or group (as such term is defined in Sections 3(a)(9) and 13(d)(3) of the Exchange Act), other than an Affiliate of Williams or any employee benefit plan (or any related trust) sponsored or maintained by Williams or any of its Affiliates (a
“Related Party”), becomes the Beneficial Owner of 20% or more of the common stock of Williams or of Voting Securities representing 20% or more of the combined voting power of all Voting Securities of Williams, except that no Change
in Control shall be deemed to have occurred solely by reason of such beneficial ownership by a Person (a “Similarly Owned Company”) with respect to which both more than 75% of the common stock of such Person and Voting Securities
representing more than 75% of the combined voting power of the Voting Securities of such Person are then owned, directly or indirectly, by the persons who were the direct or indirect owners of the common stock and Voting Securities of Williams
immediately before such acquisition, in substantially the same proportions as their ownership, immediately before such acquisition, of the common stock and Voting Securities of Williams, as the case may be; or 

(b) Williams Incumbent Directors (determined using the Agreement Date as the baseline date) cease for any reason to
constitute at least a majority of the directors of Williams then serving; or 
 (c) consummation of a merger,
reorganization, recapitalization, consolidation, or similar transaction (any of the foregoing, a “Reorganization Transaction”), other than a Reorganization Transaction that results in the Persons who were the direct or indirect
owners of the outstanding common stock and Voting Securities of Williams immediately before such Reorganization Transaction becoming, immediately after the consummation of such Reorganization Transaction, the direct or indirect owners, of both at
least 65% of the then-outstanding common stock of the Surviving Corporation and Voting Securities representing at least 65% of the combined voting power of the then-outstanding Voting Securities of the Surviving Corporation, in substantially the
same respective proportions as such Persons’ ownership of the common stock and Voting Securities of Williams immediately before such Reorganization Transaction; or 

  
 4 

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

1.19 “Confidential Information” means any non-public information of any kind or nature in the possession of Williams or
any of its Affiliates, including without limitation, ideas, processes, methods, designs, innovations, devices, inventions, discoveries, know-how, data, techniques, models, customer lists, marketing, business or strategic plans, financial
information, research and development information, trade secrets or other subject matter relating to Williams’ or its Affiliates’ products, services, businesses, operations, employees, customers or suppliers, whether in tangible or
intangible form, including (i) any information that gives Williams or any of its Affiliates a competitive advantage in the harnessing, production, transmission, distribution, 

  
 5 

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

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

1.21 “Disability” means any medically determinable physical or mental impairment of Executive where he or she
(a) is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than
twelve (12) months, or (b) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months,
receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees of Executive’s employer. Notwithstanding the forgoing, all determinations of whether an Executive is
Disabled shall be made in accordance with Section 409A of the Code. 
 1.22 “Disqualifying Disaggregation”
means 
 (a) The cessation of Executive’s employment with Williams and/or its Affiliates prior to the Change
Date for any reason, including but not limited to a cessation of employment with Williams and/or its Affiliates which is effected by a sale, spin-off, or other disaggregation (“Disaggregation”) by Williams or an Affiliate of the business
unit (including, but not limited to, a sale, spin-off or other disaggregation of a Subsidiary) which employed Executive immediately prior to such Disaggregation; or 

(b) The cessation of Executive’s employment with Williams and/or its Affiliates during the Post-Change Period due to
a Disaggregation solely where Executive is employed by the successor in substantially the same position as the position held prior to the Disaggregation, provided the successor assumes all of Williams’ obligations under this Agreement.

 1.23 “Employer” means Williams or, if Executive is not employed directly by Williams, the Subsidiary that
from time to time employs Executive on or after the Agreement Date, and the successor of either (provided, in the case of a Subsidiary, that such successor is also a Subsidiary). 

  
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 1.24 “ERISA” means the Employee Retirement Income security Act of 1974, as
amended. 
 1.25 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

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

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

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

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

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

  
 7 

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

(ii) Unless such Notice of Termination is given within 90 days of Executive’s first actual knowledge of such act or
omission; and 
 (iii) Unless Williams or the Employer fails to cure such act or omission within the 30 day
period after receiving the Notice of Termination. 
 (c) No act or omission shall constitute grounds for
“Good Reason”, if Executive has consented in writing to such act or omission in a document that makes specific reference to this Section. 
 1.27 “Gross-Up Payment” — see Section 3.1. 
 1.28
“including” means including without limitation. 
 1.29 “IRS” means the Internal Revenue
Service of the United States of America. 
 1.30 “Legal and Other Expenses” — see Section 4.1.

 1.31 “Notice of Consideration” — see Section 2.2(b)(ii). 

1.32 “Notice of Termination” means a written notice of a Separation from Service, if applicable, given in accordance
with Section 9.7 that sets forth (a) the specific termination provision in this Agreement relied on by the party giving such notice, (b) in reasonable detail the specific facts and circumstances claimed to provide a basis for such
Separation from Service, and (c) if the Termination Date is other than the date of receipt of such Notice of Termination, the Termination Date. 
 1.33 “Person” means any individual, sole proprietorship, partnership, joint venture, limited liability company, trust, unincorporated organization, association, corporation, institution,
public benefit corporation, entity or government instrumentality, division, agency, body or department. 
 1.34
“Post-Change Period” means the period commencing on the Change Date and ending on the earlier of the Termination Date or the second anniversary of the Change Date. 

1.35 “Potential Parachute Payment” – see Section 3.1. 

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

  
 8 

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

  
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 1.43 “Subsidiary” means a corporation, trade or business, if it and The
Williams Companies, Inc. are members of a controlled group of corporations as defined in Code Section 414(b) or under common control as defined under Code Section 414(c); the standard of control under Code Sections 414(b) and 414(c) shall
be deemed to be “at least 80%” and all determinations shall be made in accordance with Code Section 409A and the applicable guidance thereunder. 
 1.44 “Surviving Corporation” means the parent corporation resulting from a Reorganization Transaction or, if securities representing at least 50% of the aggregate voting power of all
Voting Securities of a corporation effected by a Change in Control which is not a Reorganization Transaction are directly or indirectly owned by another corporation, such other corporation. 

1.45 “Target Annual Bonus” means, as of any date, the amount equal to the product of Executive’s Base Salary
determined as of such date multiplied by the percentage of such Base Salary to which Executive would have been entitled immediately prior to such date under any Annual Bonus arrangement for the fiscal year for which the Annual Bonus is awarded if
the performance goals established pursuant to such Annual Bonus were achieved at the 100% level as of the end of the fiscal year; provided, however, that if Executive’s Annual Bonus is discretionary and no 100% target level is formally
established either under the Annual Bonus arrangement or otherwise, Executive’s “Target Annual Bonus” shall mean the amount equal to the 100% of Executive’s Base Salary. 

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

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

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

(b) if no Notice of Termination is given, the Termination Date shall be the last date on which Executive is employed by an
Employer; and 
 (c) for purposes of Article VI (Restrictive Covenants) if the Executive does not have a
Separation from Service, the Termination Date shall be the later of the date the entity that employs Executive ceases to be a Subsidiary, or, after a Disaggregation (as defined in Section 1.22), the date Executive’s employment with the
successor business unit terminates, whether such termination is initiated by such successor or by Executive. 
 1.48
“Voting Securities” of a corporation means securities of such corporation that are entitled to vote generally in the election of directors of such corporation. 

1.49 “Williams” — see the introductory paragraph of this Agreement. 

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

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

 Williams’ Obligations Upon Separation from Service 

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

  
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 (ii) Retirement Enhancements. The sum of: 

(A) an amount equal to the sum of the value of the unvested portion of Executive’s accounts or accrued benefits
under any defined contribution plan qualified under Section 401(a) of the Code maintained by the Williams Parties as of the Termination Date and forfeited by Executive due to Separation from Service; and 

(B) an amount equal to three (3) times the total of the allocations made by Williams for Executive under The
Williams Companies Retirement Restoration Plan (or any successor plan) during the calendar year preceding the calendar year in which the Change Date occurs. 
 (iii) Multiple of Salary and Bonus. An amount equal to three (3) times the sum of (A) Base Salary plus (B) the Target Annual Bonus, each determined as of the Termination Date;
provided, however, that any reduction in Executive’s Base Salary or Target Annual Bonus that would qualify as Good Reason shall be disregarded for this purpose. 

(b) Stock Incentive Awards. To the extent provided in the applicable award agreements and the applicable plan, all
of Executive’s Stock Options then outstanding shall immediately become fully vested and remain exercisable until the 18-month anniversary of the Termination Date (or such later date as may be set forth in the applicable award agreement,
including, but not limited to, a later exercise date under an award agreement if Executive has met the age and service requirements for retirement) or, if earlier, the option expiration date for any such Stock Option. All of Executive’s
Restricted Shares then outstanding shall only vest and payout in accordance with the applicable award agreements for such Restricted Shares. 
 (c) Continuation of Welfare Benefits. During the lesser of the period during which Executive or a qualifying beneficiary (as defined in Section 607 of the Employee Retirement Income Security
Act of 1974, as amended) has in effect an election for post-termination continuation coverage or conversion rights to welfare benefits under applicable law, including Section 4980 of the Code (“COBRA”), or the period ending on the
18-month anniversary of the Termination Date (“Severance Period”), Executive (or, if applicable, the qualifying beneficiary) shall be entitled to such coverage at an out-of-pocket premium cost that does not exceed the out-of-pocket premium
cost applicable to similarly situated active employees (and their eligible dependents); provided, however, that if Executive is eligible to retiree benefits provided under any welfare benefit plan, program, policy, practice or procedure of the
Williams Parties, Executive shall be entitled to receive such retiree benefits in lieu of the COBRA coverage provided by this Section 2.1(c). 
 (d) Outplacement. Executive shall be reimbursed for reasonable fees and costs for outplacement services incurred by Executive within six (6) months after the Separation from Service, promptly
upon presentation of reasonable documentation of 

  
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such fees and costs, subject to a maximum of $25,000. All requests of Executive for reimbursement must be submitted to Williams within one (1) year of Separation from Service and Williams
shall make the reimbursement of reasonable requests no later than thirty (30) days after such request, but in all events within fifteen (15) months of Separation from Service. 

(e) Indemnification. Executive shall be indemnified and held harmless by Williams and the Employer on the same
terms as other peer executives and to the greatest extent permitted under applicable law as the same now exists or may hereafter be amended and the Employer’s and Williams’ by-laws as such exist on the Agreement Date, or such greater
rights that may be provided by amendment to such by-laws from time to time, if Executive was, is, or is threatened to be, made a party to any pending, completed or threatened action, suit, arbitration, alternate dispute resolution mechanism,
investigation, administrative hearing or any other proceeding whether civil, criminal, administrative or investigative, and whether formal or informal, by reason of the fact that Executive is or was, or had agreed to become, a director, officer,
employee, agent or fiduciary of the Employer or any other entity which Executive is or was serving at the request of the Employer or Williams (“Proceeding”), against all expenses (including reasonable attorneys’ fees) and all claims,
damages, liabilities and losses incurred or suffered by Executive or to which Executive may become subject for any reason, and (ii) shall be entitled to advancement of any such indemnifiable expenses in accordance with the Employer’s and
Williams’ by-laws as such exist on the Agreement Date, or such greater rights that may be provided by amendment to such by-laws from time to time. A Proceeding shall not include any proceeding to the extent it concerns or relates to a matter
described in Section 4.1 (concerning reimbursement of certain costs and expenses). 
 (f) Directors’
and Officers’ Liability Insurance. For a period of six years after the Termination Date (or for any known longer applicable statute of limitations period), the Executive shall be entitled to coverage under a directors’ and
officers’ liability insurance policy in an amount no less than, and on the same terms as those provided to peer executive officers and directors of the Employer. 
 2.2 If by the Employer for Cause. 
 (a) Termination for
Cause. If the Executive has a Separation from Service for Cause during the Post-Change Period, the Williams Parties’ sole obligation to Executive under this Article II shall be to pay Executive a lump-sum cash amount equal to all Accrued
Obligations determined as of the Termination Date. 
 (b) Change in Control: Procedural Requirements for
Termination for Cause. For any Separation from Service for Cause during any part of a Post-Change Period, the Williams Parties shall strictly observe each of the following substantive and procedural provisions: 

(i) The Board shall call a meeting for the stated purpose of determining whether Executive’s acts or omissions
satisfy the requirements of the definition of “Cause” and, if so, whether to terminate Executive’s employment for Cause. 

  
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 (ii) Not less than 15 days prior to the date of such meeting, the Board
shall provide or cause to be provided Executive and each member of the Board written notice (a “Notice of Consideration”) of (A) a detailed description of the acts or omissions alleged to constitute Cause, (B) the date of
such meeting of the Board, and (C) Executive’s rights under clauses (iii) and (iv) below. 

(iii) Executive shall have the opportunity to appear before the Board in person and, at Executive’s option, with
legal counsel, and/or present to the Board a written response to the Notice of Consideration. 
 (iv) Executive’s employment may be terminated for Cause only if (A) the acts or omissions specified in the Notice of Consideration did in fact occur and such actions or omissions do constitute
Cause as defined in this Agreement, (B) the Board, by affirmative vote of at least 66 2/3 of its members (excluding Executive’s vote), makes a specific determination to such effect and to the effect that
Executive’s employment should be terminated for Cause (“Cause Determination”), and (C) Williams thereafter provides Executive with a Notice of Termination that specifies in specific detail the basis of such Separation from
Service for Cause and which Notice shall be consistent with the reasons set forth in the Notice of Consideration. 

Nothing in this Section 2.2(b) shall preclude the Board, by majority vote, from suspending Executive from his duties, with pay, at
any time. 
 (c) Change in Control: Standard of Review. In the event that the existence of Cause during a
Post-Change Period shall become an issue in any action or proceeding between Executive, on the one hand, and any one or more of the Williams Parties on the other hand, the Williams Parties, as applicable, shall, notwithstanding the Cause
Determination, have the burden of establishing that the actions or omissions specified in the Notice of Consideration did in fact occur and do constitute Cause and that the Williams Parties have satisfied all applicable substantive and procedural
requirements of this Section. 
 2.3 If by Executive Other Than for Good Reason. If Executive has a Separation from
Service initiated by the Executive during the Post-Change Period other than for Good Reason, Disability or death, the sole obligation of the Williams Parties to Executive under this Article II shall be to pay Executive a lump-sum cash amount equal
to all Accrued Obligations determined as of the Termination Date. 
 2.4 If by Death or Disability. If Executive dies
during the Post-Change Period or if Executive has a Separation from Service during the Post-Change Period by reason of Executive’s Disability, the Williams Parties’ sole obligation to Executive under this Article II shall be to pay
Executive a lump-sum cash amount equal to all Accrued Obligations determined as of the Termination Date. 

  
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 2.5 Waiver and Release. Notwithstanding anything herein to the contrary, in the event
that Executive’s employment terminates pursuant to Section 2.1, no Williams Party shall have any obligation to Executive under Section 2.1(a) Sections 2.1(c)-(f) and Article III unless and until Executive executes and delivers to
Williams within sixty (60) days after Separation from Service a release and waiver of Williams, the Employer and Affiliates, in substantially the same form as attached hereto as Exhibit A, or as otherwise mutually acceptable. 

2.6 Breach of Covenants. If a court determines that Executive has breached any non-competition, non-solicitation,
non-disparagement, confidential information or intellectual property covenant entered into at any time between Executive (on the one hand) and Williams, the Employer, or any Affiliate (on the other hand), including the Restrictive Covenants in
Article VI, (a) no Williams Party shall have any obligation to pay or provide any severance or benefits under Articles II and/or III, (b) all of Executive’s unexercised Stock Options shall terminate as of the date of the breach,
(c) all of Executive’s Restricted Stock shall be forfeited as of the date of the breach, (d) Executive shall reimburse a Williams Party for any amount already paid under Articles II and/or III, and (e) Executive shall repay to
Williams an amount equal to the aggregate “spread” (as defined below) on all Stock Options exercised in the one year period prior to the first date on which Executive breached any such covenant (“Breach Date”). For purposes of
this Section 2.6, “spread” in respect of any Stock Option shall mean the product of the number of shares as to which such Stock Option has been exercised during the one year period prior to the Breach Date multiplied by the difference
between the closing price of the common stock on the exercise date (or if the common stock did not trade on the New York Stock Exchange or other exchange, if any, on which common stock had a higher trading volume at the time, on the exercise date,
the most recent date on which the common stock did so trade) and the exercise price of the Stock Options. 
 Article III.

 Certain Potential Benefit Adjustments by Williams 

3.1 Potential Benefit Adjustment on Account of “Golden Parachute” Excise Taxes. If at any time or from time to time, it
shall be determined by independent tax professionals selected by Williams (“Tax Professionals”) that any payment or other benefit to Executive pursuant to Article II of this Agreement or otherwise (“Potential Parachute
Payment”) is or will, but for the provisions of this Article III, become subject to the excise tax imposed by Section 4999 of the Code or any similar tax payable under any state, local, foreign or other law, but expressly excluding any
income taxes and penalties or interest imposed pursuant to Section 409A of the Code, (“Excise Taxes”), then the Executive’s Potential Parachute Payment shall be either (a) provided to the Executive in full, or
(b) provided to the Executive as to such lesser extent which would result in no portion of such benefits being subject to the Excise Taxes, whichever of the foregoing amounts, when taking into account applicable federal, state, local and
foreign income and employment taxes, the Excise Tax, and any other applicable taxes, results in the receipt by the Executive, on an after-tax basis, of the greatest amount of benefits, notwithstanding that all or some portion of such benefits may be
taxable under the Excise Taxes (“Payments”). 

  
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 3.2 Implementation of Calculations and Any Benefit Reduction Under Section 3.1.
In the event of a reduction of benefits pursuant to Section 3.1, the Tax Professional shall determine which benefits shall be reduced so as to achieve the principle set forth in Section 3.1. For purposes of making the calculations required
by Section 3.1, the Tax Professional may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of the Code and other applicable legal
authority. Williams and Executive shall furnish to the Tax Professional such information and documents as the Tax Professional may reasonably request in order to make a determination under Section 3.1. Williams shall bear all costs the Tax
Professional may reasonably incur in connection with any calculations contemplated by Section 3.1. 
 3.3 Potential
Subsequent Adjustments. 
 (a) If, notwithstanding any calculations performed or reduction in benefits imposed as described
in Section 3.1, the IRS determines that Executive is liable for Excise Taxes as a result of the receipt of any payments made pursuant to Article II of this Agreement or otherwise, then Executive shall be obligated to pay back to Williams,
within thirty (30) days after a final IRS determination or in the event that the Executive challenges the final IRS determination, a final judicial determination, a portion of the Payments equal to the “Repayment Amount.” The
Repayment Amount shall be the smallest such amount, if any, as shall be required to be paid to Williams so that the Executive’s net after-tax proceeds with respect to the Payments (after taking into account the payment of the Excise Taxes and
all other applicable taxes imposed on such benefits) shall be maximized. The Repayment Amount shall be zero if a Repayment Amount of more than zero would not result in the Executive’s net after-tax proceeds with respect to the Payments being
maximized. If the Excise Taxes are not eliminated pursuant to this Section 3.3, the Executive shall pay the Excise Taxes. 

(b) Notwithstanding any other provision of this Article III, if (i) there is a reduction in the payments to an Executive as
described above in this Article III, (ii) the IRS later determines that the Executive is liable for Excise Taxes, the payment of which would result in the maximization of the Executive’s net after-tax proceeds (calculated based on the full
amount of the Potential Parachute Payment and as if the Executive’s benefits had not previously been reduced), and (iii) the Executive pays the Excise Tax, then Williams shall pay to the Executive those payments which were reduced pursuant
to Section 3.1 or 3.3(a) as soon as administratively possible after the Executive pays the Excise Taxes to the extent that the Executive’s net after-tax proceeds with respect to the payment of the Payments are maximized. 

Article IV. 
 Expenses and Interest 
 4.1 Legal and Other Expenses. 

(a) If Executive incurs legal fees or other expenses (including expert witness and accounting fees) in an effort to
determine, secure, preserve, establish entitlement to, 

  
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or obtain benefits under this Agreement (collectively, “Legal and Other Expenses”), Executive shall, regardless of the outcome of such effort, be entitled to payment of or
reimbursement for such Legal and Other Expenses in accordance with Section 4.1(b). 
 (b) All Legal and
Other Expenses shall be paid or reimbursed on a monthly basis within 10 days after presentation of Executive’s written request for reimbursement accompanied by evidence that such Legal and Other Expenses were incurred. In all events, the
Company shall pay or reimburse such eligible expenses in accordance with the requirements of Treasury Regulation § 1.409A-3(i)(1)(iv) for reimbursement and in-kind benefit plans, to the extent applicable. For this purpose, (i) any
reimbursement shall be for expenses incurred during Executive’s lifetime or within two additional years following Executive’s death, (ii) the amount of expenses eligible for reimbursement, or benefits provided, in one calendar year
shall not affect the expenses eligible for reimbursement, or benefits to be provided, in any other calendar year, (iii) the reimbursement of any eligible expense will be made no later than the last day of the calendar year next following the
calendar year in which the expense was incurred, and (iv) the right to any reimbursement or benefit shall not be subject to liquidation or exchange for any other benefit. 

(c) If Executive does not prevail (after exhaustion of all available judicial remedies) in respect of a claim by Executive
or by one or more of the Williams Parties, hereunder, and such parties establish before a court of competent jurisdiction that Executive had no reasonable basis for his claim hereunder, or for his response to such parties’ claim hereunder, or
acted in bad faith, no further payment of or reimbursement for Legal and Other Expenses shall be due to Executive in respect of such claim and Executive shall refund any amounts previously paid or reimbursed hereunder with respect to such claim.

 4.2 Interest. If an amount due is not paid to Executive under this Agreement within five business days after such
amount first became due and owing, interest shall accrue on such amount from the date it became due and owing until the date of payment at a annual rate equal to 200 basis points above the base commercial lending rate published in The Wall Street
Journal in effect from time to time during the period of such nonpayment. 
 Article V. 

No Set-off or Mitigation 
 5.1 No Set-off by Williams. Executive’s right to receive when due the payments and other benefits provided for under this Agreement is absolute, unconditional and subject to no setoff,
counterclaim, recoupment, or other claim, right or action that any Williams Party may have against Executive or others, except as expressly provided in this Section. Notwithstanding the prior sentence, any Williams Party shall have the right to
deduct any amounts outstanding on any loans or other extensions of credit to Executive from a Williams Party from Executive’s payments and other benefits (if any) provided for under this Agreement. Time is of the essence in the performance by
the Williams Parties of their respective obligations under this Agreement. 

  
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 5.2 No Mitigation. Executive shall not have any duty to mitigate the amounts payable
by any Williams Party under this Agreement by seeking new employment or self-employment following termination. Except as specifically otherwise provided in this Agreement, all amounts payable pursuant to this Agreement shall be paid without
reduction regardless of any amounts of salary, compensation or other amounts which may be paid or payable to Executive as the result of Executive’s employment by another employer or self-employment. 

Article VI. 
 Restrictive Covenants 
 6.1 Confidential Information. The Executive
acknowledges that in the course of performing services for Williams and its Affiliates, Executive may create (alone or with others), learn of, have access to, or receive Confidential Information. The Executive recognizes that all such Confidential
Information is the sole and exclusive property of Williams and its Affiliates or of third parties to which Williams or an Affiliate owes a duty of confidentiality, that it is Williams’ policy to safeguard and keep confidential all such
Confidential Information, and that disclosure of Confidential Information to an unauthorized third party would cause irreparable damage to Williams and its Affiliates. Executive agrees that, except as required by the duties of Executive’s
employment with Williams or any of its Affiliates and except in connection with enforcing Executive’s rights under this Agreement or if compelled by a court or governmental agency, in each case provided that prior written notice is given to
Williams, Executive will not, without the written consent of Williams, willfully disseminate or otherwise disclose, directly or indirectly, any Confidential Information disclosed to Executive or otherwise obtained by Executive during his employment
with Williams or its Affiliates, and will take all necessary precautions to prevent disclosure, to any unauthorized individual or entity (whether or not such individual or entity is employed or engaged by, or is otherwise affiliated with, Williams
or any Affiliate), and will use the Confidential Information solely for the benefit of Williams and its Affiliates and will not use the Confidential Information for the benefit of any other Person nor permit its use for the benefit of Executive.
These obligations shall continue during and after the termination of Executive’s employment for any reason and for so long as the Confidential Information remains Confidential Information. 

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

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

  
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 (b) make or retain any financial investment, whether in the form of equity
or debt, or own any interest, in any Competitive Business. Nothing in this subsection (b) shall, however, restrict Executive from making an investment in any Competitive Business if such investment does not (i) represent more than 1% of
the aggregate market value of the outstanding capital stock or debt (as applicable) of such Competitive Business, (ii) give Executive any right or ability, directly or indirectly, to control or influence the policy decisions or management of
such Competitive Business, or (iii) create a conflict of interest between Executive’s duties to Williams and its Affiliates or under this Agreement and his interest in such investment. 

6.3 Non-Solicitation. During the period beginning on the Agreement Date and ending on the first anniversary of the Termination
Date, regardless of the reason for Executive’s Separation from Service, Executive shall not, directly or indirectly: 
 (a) other than in connection with the good-faith performance of his duties as an officer of Williams or its Affiliates, cause or attempt to cause any employee, director or consultant of Williams or an
Affiliate to terminate his or her relationship with Williams or an Affiliate; 
 (b) employ, engage as a
consultant or adviser, or solicit the employment or engagement as a consultant or adviser, of any employee of Williams or an Affiliate (other than by Williams or its Affiliates), or cause or attempt to cause any Person to do any of the foregoing;

 (c) establish (or take preliminary steps to establish) a business with, or cause or attempt to cause others to
establish (or take preliminary steps to establish) a business with, any employee of Williams or an Affiliate, if such business is or will be a Competitive Business; or 

(d) interfere with the relationship of Williams or an Affiliate with, or endeavor to entice away from Williams or an
Affiliate, any Person who or which at any time during the period commencing one year prior to the Termination Date was or is, to Executive’s knowledge, a material customer or material supplier of, or maintained a material business relationship
with, Williams or an Affiliate. 
 6.4 Intellectual Property. 

(a) During the period of Executive’s employment with Williams or any Affiliate, and thereafter upon Williams’
request, regardless of the reason for Executive’s Separation from Service, Executive shall disclose immediately to Williams all Work Product that: (i) relates to the business of Williams or any Affiliate or any customer or supplier to
Williams or an Affiliate or any of the products or services being developed, manufactured, sold or otherwise provided by Williams or an Affiliate or that may be used in relation therewith; or (ii) results from tasks or projects assigned to
Executive by 

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

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

  
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 6.5 Non-Disparagement. 

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

(c) Notwithstanding anything contained herein to the contrary, nothing herein shall be deemed to preclude Executive or
Williams from providing truthful testimony or information pursuant to subpoena, court order or other similar legal or regulatory process, provided, that to the extent permitted by law, Executive will promptly inform Williams of any such obligation
prior to participating in any such proceedings. 
 6.6 Reasonableness of Restrictive Covenants. 

(a) Executive acknowledges that the covenants contained in this Agreement are reasonable in the scope of the activities
restricted, the geographic area covered by the restrictions, and the duration of the restrictions, and that such covenants are reasonably necessary to protect Williams’ legitimate interests in its Confidential Information, its proprietary work,
and in its relationships with its employees, customers, suppliers and agents. 
 (b) Williams has, and Executive
has had an opportunity to, consult with their respective legal counsel and to be advised concerning the reasonableness and propriety of such covenants. Executive acknowledges that his observance of the covenants contained herein will not deprive
Executive of the ability to earn a livelihood or to support his or her dependents. 
 (c) Executive understands
he is bound by the terms of this Article VI, whether or not he receives severance payments under the Agreement or otherwise. 

6.7 Right to Injunction: Survival of Undertakings. 

(a) In recognition of the confidential nature of the Confidential Information, and in recognition of the necessity of the
limited restrictions imposed by this Agreement, 

  
 21 

 
Executive and Williams agree that it would be impossible to measure solely in money the damages which Williams would suffer if Executive were to breach any of his obligations hereunder. Executive
acknowledges that any breach of any provision of this Agreement would irreparably injure Williams. Accordingly, Executive agrees that if he breaches any of the provisions of this Agreement, Williams shall be entitled, in addition to any other
remedies to which Williams may be entitled under this Agreement or otherwise, to an injunction to be issued by a court of competent jurisdiction, to restrain any breach, or threatened breach, of any provision of this Agreement without the necessity
of posting a bond or other security therefor, and Executive hereby waives any right to assert any claim or defense that Williams has an adequate remedy at law for any such breach. 

(b) If a court determines that any covenant included in this Article VI is unenforceable in whole or in part because of
such covenant’s duration or geographical or other scope, such court shall have the power to modify the duration or scope of such provision, as the case may be, so as to cause such covenant as so modified to be enforceable. 

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

Article VII. 
 Non-Exclusivity of Rights 
 7.1 Waiver of Certain Other Rights. To
the extent that Executive shall have received severance payments or other severance benefits under any other plan, program, policy, practice or procedure or agreement of any Williams Party prior to receiving severance payments or other severance
benefits pursuant to Article II, the severance payments or other severance benefits under such other plan, program, policy, practice or procedure or agreement shall reduce (but not below zero) the corresponding severance payments or other benefits
to which Executive shall be entitled under Article II. To the extent that Executive accepts payments made pursuant to Article II, he shall be deemed to have waived his right to receive a corresponding amount of future severance payments or other
severance benefits under any other plan, program, policy, practice or procedure or agreement of any Williams Party. 
 7.2
Other Rights. Except as expressly provided in Section 7.1 and as provided in the Recitals to this Agreement, this Agreement shall not prevent or limit Executive’s continuing or future participation in any benefit, bonus, incentive
or other plan, program, policy, practice or procedure provided by a Williams Party and for which Executive may qualify, nor shall this Agreement limit or otherwise affect such rights as Executive may have under any other agreements with a Williams
Party. Amounts that are vested benefits or that Executive is otherwise entitled to receive under any plan, program, policy, practice or procedure and any 

  
 22 

 
other payment or benefit required by law at or after the Termination Date shall be payable in accordance with such plan, program, policy, practice or procedure or applicable law except as
expressly modified by this Agreement. 
 7.3 No Right to Continued Employment. Nothing in this Agreement shall guarantee
the right of Executive to continue in employment, and Williams and the Employer retain the right to terminate Executive’s employment at any time for any reason or for no reason. 

Article VIII. 
 Claims Procedure 
 8.1 Filing a Claim. 

(a) Each individual eligible for benefits under this Agreement (“Claimant”) may submit his application
for benefits (“Claim”) to Williams (or to such other person as may be designated by Williams) in writing in such form as is provided or approved by Williams. A Claimant shall have no right to seek review of a denial or benefits, or
to bring any action in any court to enforce a Claim, prior to his filing a Claim and exhausting his rights to review under Sections 8.1 and 8.2. 
 (b) When a Claim has been filed properly, it shall be evaluated and the Claimant shall be notified of the approval or the denial of the Claim within 30 days after the receipt of such Claim. A Claimant
shall be given a written notice in which the Claimant shall be advised as to whether the Claim is granted or denied, in whole or in part. If a Claim is denied, in whole or in part, the notice shall contain (i) the specific reasons for the
denial, (ii) references to pertinent provisions of this Agreement on which the denial is based, (iii) a description of any additional material or information necessary to perfect the Claim and an explanation of why such material or
information is necessary, (iv) the Claimant’s right to seek review of the denial and a description of the procedures for such review and (v) a statement regarding Claimant’s right to bring a civil action under section 502(a) of
ERISA following an adverse decision on appeal. 
 8.2 Review of Claim Denial. If a Claim is denied, in whole or in part,
or if a Claim is neither approved nor denied within the 30-day period specified Section 8.1(b), the Claimant (or his or her authorized representative) shall have the right at any time to (a) request that Williams (or such other person as
shall be designated in writing by Williams) review the denial or the failure to approve or deny the Claim, (b) review pertinent documents, and (c) submit issues and comments in writing. Within 30 days after such a request is received,
Williams shall complete its review and give the Claimant written notice of its decision. Upon request and without charge, the Claimant will be provided reasonable access to and copies of all documents, records and other information relevant to the
claim. Williams shall include in its notice to Claimant (i) the specific reasons for its decision, (ii) references to provisions of this Agreement on which its decision is based, (iii) a statement that the Claimant is entitled to
receive, upon request and free of charge, reasonable access to and copies of all documents, records and other information relevant to the claim; and (iv) a statement regarding the Claimant’s right to bring a civil action under ERISA
Section 502(a) within 180 days of receipt of notice of denial on appeal. 

  
 23 

 Article IX. 
 Miscellaneous 
 9.1 No Assignability. This Agreement is personal to
Executive and without the prior written consent of Williams shall not be assignable by Executive otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by Executive’s
legal representatives. 
 9.2 Successors. This Agreement shall inure to the benefit of and be binding upon Williams and
its successors and assigns. Williams will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of Williams (or the Employer during any Post-Change
Period) to assume expressly and agree to perform this Agreement in the same manner and to the same extent that Williams (or, if applicable, the Employer) would be required to perform it if no such succession had taken place. Any successor to the
business or assets of Williams (or any Employer) which assumes or agrees to perform this Agreement by operation of law, contract, or otherwise shall be jointly and severally liable with Williams (or the Employer) under this Agreement as if such
successor were Williams (or the Employer). If Executive’s employment is transferred from Williams to a Subsidiary, or from a Subsidiary to Williams or another Subsidiary, the rights and obligations of the Employer (determined prior to such
transfer) shall automatically become the rights and obligations of the Employer (determined immediately following such transfer), without requiring the consent of Executive. 
 9.3 Payments to Beneficiary. If Executive dies before receiving amounts to which Executive is entitled under this Agreement, such amounts shall be paid in a lump sum to one or more beneficiaries
designated in writing by Executive (each, a “Beneficiary”). If none is so designated, Executive’s estate shall be his or her Beneficiary. 
 9.4 Non-Alienation of Benefits. Benefits payable under this Agreement shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, charge,
garnishment, execution or levy of any kind, either voluntary or involuntary, before actually being received by Executive, and any such attempt to dispose of any right to benefits payable under this Agreement shall be void. 

9.5 Severability. If any one or more Articles, Sections or other portions of this Agreement are declared by any court or
governmental authority to be unlawful or invalid, such unlawfulness or invalidity shall not serve to invalidate any Article, Section or other portion not so declared to be unlawful or invalid. Any Article, Section or other portion so declared to be
unlawful or invalid shall be construed so as to effectuate the terms of such Article, Section or other portion to the fullest extent possible while remaining lawful and valid. 
 9.6 Amendments. This Agreement shall not be amended or modified except by written instrument executed by Williams and Executive; provided however that notwithstanding the terms of this Agreement to
the contrary, the terms of this Agreement shall be administered in such a way to comply with Code Section 409A as reasonably deemed appropriate by Williams; 

  
 24 

 
provided further however that notwithstanding anything to the contrary herein, Williams shall have the unilateral right to modify or amend this Agreement as it reasonably deems appropriate
related to compliance with Code Section 409A. The parties to this Agreement intend that this Agreement meet the requirements of Internal Revenue Code Section 409A and recognize that it may be necessary to modify this Agreement to reflect
guidance under Code Section 409A issued by the Internal Revenue Service. 
 9.7 Notices. All notices and other
communications under this Agreement shall be in writing and delivered by hand, by nationally-recognized delivery service that promises overnight delivery, or by first-class registered or certified mail, return receipt requested, postage prepaid,
addressed as follows: 
 If to Executive, to Executive at his most recent home address on file with Williams. 

If to Williams or the Employer: 
 The Williams Companies, Inc. 
 One Williams Center 

Tulsa, Oklahoma 74172 
 Attention: General Counsel 
 or to such other address as either party shall have furnished to the
other in writing. Williams may also deliver notice and other communications under this Agreement in writing by email transmission to the work email address of the Executive. 
 Notice and communications shall be effective when received by the addressee. An email notice under this Agreement will be deemed received when sent. All other notices or communications will be deemed
received when delivered if delivery is confirmed by a delivery service or return receipt. 
 9.8 Joint and Several
Liability. In the event that the Employer incurs any obligation to Executive pursuant to this Agreement, such Employer, Williams and each Subsidiary, if any, of which such Employer is a subsidiary shall be jointly and severally liable with such
Employer for such obligation. 
 9.9 Counterparts. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together constitute one and the same instrument. 
 9.10 Governing
Law. This Agreement shall be interpreted and construed in accordance with the laws of the State of Oklahoma, without regard to its choice of law principles, except to the extent preempted by federal law. 

9.11 Captions. The captions of this Agreement are not a part of the provisions hereof and shall have no force or effect.

  
 25 

 9.12 Rules of Construction. Reference to a specific law shall include such law, any
valid regulation promulgated thereunder, and any comparable provision of any future legislation amending, supplementing or superseding such section. 
 9.13 Number and Gender. Wherever appropriate, the singular shall include the plural, the plural shall include the singular, and the masculine shall include the feminine. 

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

9.15 No Rights Prior to Change Date. Notwithstanding any provision of this Agreement to the contrary, this Agreement shall not
entitle Executive to any compensation, severance or other payments or benefits of any kind prior to a Change Date. 
 9.16
Entire Agreement. This Agreement and the documents expressly referred to herein contain the entire understanding of Williams and Executive with respect to severance or benefits in relation to a Change in Control. 

IN WITNESS WHEREOF, Executive and a duly authorized representative of The Williams Companies, Inc. have executed this Amended and
Restated Change in Control Severance Agreement             , 20    . 

 

			
	 [INSERT EXECUTIVE NAME]

 

	 	 	 
		
	Date:	 	 
	
	THE WILLIAMS COMPANIES, INC., acting on behalf of itself and its Subsidiaries and Affiliates
		
	By:	 	 
		
	Title:	 	 
		
	Date:	 	 

  
 26 

 EXHIBIT A 
 THE WILLIAMS COMPANIES, INC. 
 WAIVER AND RELEASE 

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

  
 27 

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

  
 28 

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

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

			
	[INSERT EXECUTIVE NAME]
		
	Date:	 	 
	
	THE WILLIAMS COMPANIES, INC.
		
	By:	 	 
		
	Title:	 	 
		
	Date:	 	 

  
 29 

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

I HEREBY ACKNOWLEDGE that The Williams Companies, Inc. (“the Company”), in accordance with the Age Discrimination in Employment
Act of 1967, as amended by the Older Workers Benefit Protection Act of 1990, informed me in writing that: 
 (1) I should
consult with an attorney before signing the Change in Control Severance Agreement (“Agreement”) that was provided to me. 
 (2) I may review the Agreement for a period of up to twenty-one (21) days prior to signing the Agreement. If I choose to take less than twenty-one (21) days to review the Agreement, I do so
knowingly, willingly and on advice of counsel. 
 (3) For a period of seven (7) days following the signing of the
Agreement, I may revoke the Agreement, and that the Agreement will not become effective or enforceable until the seven (7) day revocation period has elapsed. 
 (4) Any Severance Benefits paid pursuant to the Agreement will be paid in accordance with the Company’s normal pay cycle but will not be paid to me until the seven-day revocation period has elapsed.

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

I HEREBY FURTHER ACKNOWLEDGE receipt of this Change in Control Severance Agreement on the
             day of             , 200    . 

 

							
	WITNESS:	 		 	
				
	 	 		 		 	 
		 		 		 	[INSERT EXECUTIVE’S NAME]EX-10.28

 EXHIBIT 10.28 
 Execution Copy 
 PURCHASE AGREEMENT 

BY AND AMONG 
 GIP-A HOLDING (CHK), L.P., 
 GIP-B HOLDING (CHK), L.P. 

AND 

GIP-C HOLDING (CHK), L.P. 
 AS SELLERS 
 AND 

THE WILLIAMS COMPANIES, INC. 
 AS BUYER 

 TABLE OF CONTENTS 

 
  

							
	 	  	 	  	Page	 
		
	ARTICLE I DEFINITIONS	  	 	2	  
			
	 Section 1.01
	  	Definitions	  	 	2	  
			
	 Section 1.02
	  	Rules of Interpretation	  	 	2	  
		
	ARTICLE II SALE AND PURCHASE	  	 	2	  
			
	 Section 2.01
	  	Sale and Purchase	  	 	2	  
			
	 Section 2.02
	  	Purchase Price Adjustment for Distributions	  	 	3	  
			
	 Section 2.03
	  	Closing	  	 	3	  
		
	ARTICLE III REPRESENTATIONS AND WARRANTIES WITH RESPECT TO THE SELLERS	  	 	3	  
			
	 Section 3.01
	  	Existence	  	 	3	  
			
	 Section 3.02
	  	Validity of Agreement; Authorization	  	 	3	  
			
	 Section 3.03
	  	Consents and Approvals	  	 	4	  
			
	 Section 3.04
	  	No Breach	  	 	4	  
			
	 Section 3.05
	  	Ownership, Due Authorization and Transfer of Subject Interests	  	 	5	  
			
	 Section 3.06
	  	Litigation	  	 	5	  
			
	 Section 3.07
	  	Financial Advisors	  	 	5	  
			
	 Section 3.08
	  	Solvency	  	 	5	  
			
	 Section 3.09
	  	ACMP Subscription Agreement Representations of the Sellers	  	 	6	  
		
	 ARTICLE IV REPRESENTATIONS AND WARRANTIES WITH RESPECT TO CERTAIN ACQUIRED COMPANIES
	  	 	6	  
			
	 Section 4.01
	  	Formation; Due Qualification and Authority	  	 	6	  
			
	 Section 4.02
	  	Power and Authority to Act	  	 	6	  
			
	 Section 4.03
	  	Capitalization	  	 	7	  
			
	 Section 4.04
	  	Enforceability of Operative Agreements	  	 	9	  
			
	 Section 4.05
	  	Financial Statements; SEC Reports; Disclosure Controls; Sarbanes-Oxley Act of 2002	  	 	9	  
			
	 Section 4.06
	  	Entities	  	 	11	  
			
	 Section 4.07
	  	Listing	  	 	11	  

  
 i 

 TABLE OF CONTENTS (continued) 

 
  

							
	 	  	 	  	Page	 
			
	 Section 4.08
	  	Taxes	  	 	11	  
		
	ARTICLE V REPRESENTATIONS AND WARRANTIES OF THE BUYER	  	 	11	  
			
	 Section 5.01
	  	Existence	  	 	11	  
			
	 Section 5.02
	  	Validity of Agreement; Authorization	  	 	12	  
			
	 Section 5.03
	  	Consents and Approvals	  	 	12	  
			
	 Section 5.04
	  	No Breach	  	 	12	  
			
	 Section 5.05
	  	Investment Intent	  	 	12	  
			
	 Section 5.06
	  	Available Funds	  	 	13	  
			
	 Section 5.07
	  	Financial Advisors	  	 	13	  
			
	 Section 5.08
	  	ACMP Subscription Agreement Representations of the Buyer	  	 	13	  
			
	 Section 5.09
	  	Litigation	  	 	13	  
		
	ARTICLE VI COVENANTS	  	 	13	  
			
	 Section 6.01
	  	Consummation of the Transaction	  	 	13	  
			
	 Section 6.02
	  	Conduct Pending the Closing	  	 	14	  
			
	 Section 6.03
	  	Access to Information	  	 	15	  
			
	 Section 6.04
	  	Cooperation	  	 	16	  
			
	 Section 6.05
	  	Public Statements	  	 	16	  
			
	 Section 6.06
	  	Confidentiality	  	 	17	  
			
	 Section 6.07
	  	Exclusivity	  	 	18	  
		
	ARTICLE VII CLOSING	  	 	19	  
			
	 Section 7.01
	  	Conditions Precedent to Obligations of the Parties	  	 	19	  
			
	 Section 7.02
	  	Conditions Precedent to Obligations of the Buyer	  	 	20	  
			
	 Section 7.03
	  	Conditions Precedent to Obligations of the Sellers	  	 	21	  
			
	 Section 7.04
	  	Seller Deliveries	  	 	21	  
			
	 Section 7.05
	  	Buyer Deliveries	  	 	22	  
		
	ARTICLE VIII INDEMNIFICATION, COSTS AND EXPENSES	  	 	23	  
			
	 Section 8.01
	  	Survival of Representations and Warranties	  	 	23	  
			
	 Section 8.02
	  	Indemnification	  	 	24	  

  
 -ii-

 TABLE OF CONTENTS (continued) 

 
  

							
	 	  	 	  	Page	 
			
	 Section 8.03
	  	Indemnification Procedure	  	 	25	  
			
	 Section 8.04
	  	Limitations	  	 	26	  
			
	 Section 8.05
	  	Calculation of Losses	  	 	28	  
			
	 Section 8.06
	  	No Duplication	  	 	28	  
			
	 Section 8.07
	  	Tax Treatment of Indemnity Payments	  	 	28	  
			
	 Section 8.08
	  	Exclusive Remedy	  	 	28	  
			
	 Section 8.09
	  	No Reliance	  	 	30	  
		
	ARTICLE IX TAX MATTERS	  	 	31	  
			
	 Section 9.01
	  	Transfer Taxes	  	 	31	  
		
	ARTICLE X TERMINATION	  	 	31	  
			
	 Section 10.01
	  	Termination of Agreement	  	 	31	  
			
	 Section 10.02
	  	Procedure Upon Termination	  	 	32	  
			
	 Section 10.03
	  	Effect of Termination	  	 	32	  
		
	ARTICLE XI GOVERNING LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL	  	 	32	  
			
	 Section 11.01
	  	Governing Law; Consent to Jurisdiction; Waiver of Jury Trial	  	 	32	  
			
	 Section 11.02
	  	Provision in respect of Debt Financing Sources	  	 	33	  
		
	ARTICLE XII MISCELLANEOUS	  	 	34	  
			
	 Section 12.01
	  	Amendments and Modifications	  	 	34	  
			
	 Section 12.02
	  	Waiver of Compliance; Consents	  	 	34	  
			
	 Section 12.03
	  	Notices	  	 	34	  
			
	 Section 12.04
	  	Assignment	  	 	36	  
			
	 Section 12.05
	  	Expenses	  	 	36	  
			
	 Section 12.06
	  	Specific Performance	  	 	36	  
			
	 Section 12.07
	  	Entire Agreement	  	 	36	  
			
	 Section 12.08
	  	Severability	  	 	37	  
			
	 Section 12.09
	  	Disclosure Schedules	  	 	37	  
			
	 Section 12.10
	  	Third Party Beneficiaries	  	 	38	  
			
	 Section 12.11
	  	Facsimiles; Electronic Transmission; Counterparts	  	 	38	  

  
 -iii-

 TABLE OF CONTENTS (continued) 

 
  

							
	 	  	 	  	Page	 
			
	 Section 12.12
	  	Time of Essence	  	 	38	  
			
	 Section 12.13
	  	Sealed Instrument	  	 	38	  
			
	 Section 12.14
	  	CMO Purchase Agreement	  	 	39	  
			
	 Section 12.15
	  	Right to Rely	  	 	39	  
			
	 Section 1.01
	  	Definitions	  	 	A-1	  
			
	 Section 1.02
	  	Rules of Interpretation	  	 	A-11	  

  
 -iv-

 TABLE OF CONTENTS (continued) 

 
 EXHIBITS AND SCHEDULES 

 

			
		
	Exhibit A	  	Definitions; Rules of Interpretation
		
	Schedule 1.01	  	Seller Subject Interests / Purchase Price Allocation
		
	Schedule 2.01	  	Sellers Knowledge Persons
		
	Schedule 2.02	  	Buyer Knowledge Persons

  
 v 

 PURCHASE AGREEMENT 

This PURCHASE AGREEMENT (this “Agreement”), dated as of December 11, 2012, is entered into by and among
GIP-A Holding (CHK), L.P. (“GIP-A”), a Delaware limited partnership, GIP-B Holding (CHK), L.P. (“GIP-B”), a Delaware limited partnership and GIP-C Holding (CHK), L.P. (“GIP-C”),
a Delaware limited partnership (each a “Seller” and collectively, the “Sellers”) and The Williams Companies, Inc., a Delaware corporation (the “Buyer”). 

WHEREAS, the Sellers own (i) 34,538,061 Subordinated Units (as defined herein) of Access Midstream Partners, L.P., a Delaware
limited partnership (such entity, the “Partnership” and such Subordinated Units, the “Seller Subordinated Units”), and (ii) 500 AMV Units (as defined herein) of Access Midstream Ventures, L.L.C.,
a Delaware limited liability company (such entity, “AMV” and such AMV Units, the “Seller AMV Units” and together with the Seller Subordinated Units, the “Subject Interests”), in
each case, held by the Sellers as set forth on Schedule 1.01; 
 WHEREAS, the Buyer desires to purchase the Subject
Interests from the Sellers and the Sellers desire to sell the Subject Interests to the Buyer, in each case, upon the terms and subject to the conditions set forth in this Agreement; 

WHEREAS, concurrently with the execution of this Agreement, the Partnership is entering into a Unit Purchase Agreement with Chesapeake
Midstream Development, L.L.C. (the “CMO Purchase Agreement”) pursuant to which the Partnership would, subject to the terms and conditions set forth in the CMO Purchase Agreement, acquire all of the issued and outstanding
equity interest in Chesapeake Midstream Operating, L.L.C. (such transaction, the “CMO Disposition”); and 
 WHEREAS, concurrently with the execution of the CMO Purchase Agreement, GIP II Hawk Holdings Partnership, L.P. (“GIP II Hawk Holdings”), the Buyer and the Partnership are entering
into a Subscription Agreement (the “ACMP Subscription Agreement”), pursuant to which the Buyer and GIP II Hawk Holdings would, subject to the terms and conditions set forth in the ACMP Subscription Agreement, acquire from the
Partnership additional equity interests in the Partnership (such transaction, the “ACMP Equity Issuance”). 

 NOW THEREFORE, in consideration of the mutual covenants and agreements set forth herein and
for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Buyer and the Sellers hereby agree as follows: 
 ARTICLE I 
 DEFINITIONS 

Section 1.01 Definitions. Unless otherwise provided to the contrary in this Agreement, capitalized terms in this Agreement
have the meanings set forth in Section 1.01 of Exhibit A. 
 Section 1.02 Rules of Interpretation.
Unless expressly provided to the contrary in this Agreement, this Agreement shall be interpreted in accordance with the provisions set forth in Section 1.02 of Exhibit A. 

ARTICLE II 

SALE AND PURCHASE 
 Section 2.01 Sale and Purchase. 
 (a) Subject to the terms and
conditions of this Agreement, at the Closing, the Sellers hereby agree to sell to the Buyer, and the Buyer hereby agrees to purchase from the Sellers, the Subject Interests and in consideration therefor, the Buyer agrees to pay the Sellers
$1,823,162,000 in cash subject to adjustment as set forth in Section 2.02 (the “Purchase Price”), in accordance with Section 2.01(b). With respect to each Seller, the Purchase Price shall be paid in
proportion to the percentage set forth opposite such Seller’s name in Schedule 1.01. 
 (b) The Purchase Price shall
be paid in cash by wire transfer of immediately available funds to such account(s) as shall be designated by the Sellers at least three (3) Business Days prior to the Closing Date. 

(c) The Parties hereby agree that Schedule 1.01 shall be deemed to be the allocation of the Purchase Price for applicable Tax
purposes and the Parties shall prepare and file all applicable Tax Returns in a manner consistent with such allocation and this Section 2.01(c). The Parties will endeavor in good faith to agree to any additional detailed allocation for
Tax purposes as may be necessary. 

  
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 Section 2.02 Purchase Price Adjustment for Distributions. The Purchase Price
shall be reduced by the amount (expressed as a dollar value) of any AMV Unit Distributions and any Subordinated Unit Distributions. “AMV Unit Distributions” means the amount of any distribution made or declared by AMV in
respect of the Seller AMV Units in respect of any quarter commencing on or after October 1, 2012 as to which the Sellers are the record holders of the Seller AMV Units on and with respect to the record date for such distributions.
“Subordinated Unit Distributions” means the amount of any distributions made or declared by the Partnership in respect of the Seller Subordinated Units in respect of any quarter commencing on or after October 1, 2012 as
to which the Sellers are the record holders of the Seller Subordinated Units on and with respect to the record date for such distributions. 
 Section 2.03 Closing. The closing of the transactions referred to in Section 2.01(a) (the “Closing”) shall take place at the offices of Latham &
Watkins LLP, 885 Third Avenue, New York, New York 10022, concurrently with the “Closing” under the CMO Purchase Agreement, subject to the prior or concurrent satisfaction or valid waiver of all of the closing conditions set forth in
Section 7.01, Section 7.02 and Section 7.03, or at such other place and on such other date or time as the Parties may mutually agree (the date and time on which the Closing takes place, the “Closing
Date”). 
 ARTICLE III 
 REPRESENTATIONS AND WARRANTIES WITH RESPECT TO THE SELLERS 
 The
Sellers jointly and severally represent and warrant to the Buyer as of the date hereof and as of the Closing Date as follows: 

Section 3.01 Existence. Each Seller (a) is duly organized, validly existing and in good standing under the Laws of its
jurisdiction of organization and (b) has all requisite power, and has all material governmental licenses, authorizations, consents and approvals, necessary to own its properties and carry on its business as now being conducted, except where the
failure to have such licenses, authorizations, consents and approvals would not have a Seller Material Adverse Effect. 

Section 3.02 Validity of Agreement; Authorization. Each Seller has the requisite power and authority to enter into the
Transaction Documents to which it is or will be party, and to carry out its obligations thereunder. The execution and delivery of the Transaction Documents and the performance of each Seller’s obligations thereunder have been duly authorized by
the board of managers, board of directors or similar governing body of such Seller or its general partner and no other proceedings on the part of such Seller or its general partner are necessary to authorize such execution, delivery and performance.
Each of the Transaction Documents to which a Seller 

  
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is or will be a party has been (in the case of this Agreement and the Transaction Documents executed on the date hereof), or will be at the Closing (in the case of any other Transaction
Documents), duly executed and delivered by such Seller and constitutes, or will constitute at the Closing, as applicable, such Seller’s valid and binding obligation, enforceable against such Seller in accordance with its terms (except to the
extent that its enforceability may be limited by the Remedies Exception). 
 Section 3.03 Consents and Approvals. No
consent, approval, waiver or authorization of, or filing, registration or qualification with any Governmental Authority or any other Person is required on the part of any Seller for such Seller to execute and deliver the Transaction Documents to
which it is or will be party, or to perform its respective obligations thereunder, other than any consent, approval, waiver or authorization that would not have a Seller Material Adverse Effect or Company Material Adverse Effect. For purposes of
clarification, the Parties acknowledge that the Sellers are not making any representation and warranty in this Section 3.03 with respect to any Contract to which a Seller is not, but an Acquired Company is, a party. 

Section 3.04 No Breach. The execution, delivery and performance by each Seller of the Transaction Documents to which it is or
will be a party, and compliance by each Seller with the terms and provisions thereof, do not and will not (a) violate any provision of any Law applicable to (i) such Seller, AMV or the General Partner or any of their respective properties
or (ii) the Partnership, any of the Subsidiaries of the Partnership or any of their respective properties, (b) result in any breach or violation of any provision of the Organizational Documents of (i) such Seller, AMV or the General
Partner or (ii) the Partnership and each of the Subsidiaries of the Partnership, (c) result in any material violation or breach of or constitute (with or without due notice or lapse of time or both) a material default under any Contract to
which any Seller, AMV or the General Partner is a party or by which any Seller AMV, the General Partner or any of their respective properties may be bound or receives any material right or benefit or (d) except as expressly provided in the
Transaction Documents, result in the loss by any Seller, AMV or the General Partner of, or confer, grant, accelerate, give rise to or vest, for the benefit of any Person other than any Seller, AMV, the General Partner or any Affiliate thereof, any
right, remedy or benefit, including any right of offer, refusal, termination, cancellation or acceleration, under any Contract to which any Seller, AMV or the General Partner is a party or by which any Seller, AMV, the General Partner or any of
their respective properties may be bound or receives any material right or benefit. For the avoidance of doubt, this Section 3.04 shall not cover Contracts to which the General Partner is a party or is bound solely on behalf of another
Acquired Company or properties of any Acquired Company not otherwise held or owned directly by the General Partner. 

  
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 Section 3.05 Ownership, Due Authorization and Transfer of Subject Interests.

 (a) Each Seller is the record and beneficial owner of the Subject Interests set forth opposite its name on Schedule
1.01, free and clear of any and all Encumbrances (other than Encumbrances existing under the Partnership Agreement, the AMV LLC Agreement or those arising under applicable securities Laws). Each Seller has the power, authority and legal capacity
to sell, transfer, assign and deliver the Subject Interests held by it as provided in this Agreement, and such delivery will convey to the Buyer good and marketable title to such Subject Interests, free and clear of any and all Encumbrances (other
than Encumbrances existing under the Partnership Agreement, the AMV LLC Agreement and those arising under applicable securities Laws). 
 (b) All of the Subject Interests have been duly authorized and validly issued in accordance with the Organizational Documents of the Partnership and AMV, as applicable, are fully paid (to the extent
required by the Organizational Documents of the Partnership and AMV, as applicable) and nonassessable (except as such nonassessability may be affected by Section 17-607 of the DRULPA and Section 18-607 of the DLLCA). 

(c) Except as set forth in the AMV LLC Agreement, there are no outstanding options, warrants or similar rights to purchase or acquire
from any Seller any of the Subject Interests. 
 Section 3.06 Litigation. As of the date hereof, there are no
Proceedings pending or, to the Knowledge of the Sellers, threatened, against any of the Sellers or to which any of the Sellers is otherwise a party or, to the Knowledge of the Sellers, a threatened party, challenging the transactions contemplated by
the Transaction Documents or otherwise relating to such transactions, the Subject Interests or the Transaction Documents. 

Section 3.07 Financial Advisors. No Seller has incurred any Liability for fees of any broker, finder or financial advisor in
respect of the transactions contemplated by this Agreement for which any Acquired Company or the Buyer will have any responsibility or Liability whatsoever. 
 Section 3.08 Solvency. There are no bankruptcy, insolvency, reorganization, receivership or arrangement procedures pending with respect to, being contemplated by, or, to

  
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the Knowledge of the Sellers, threatened against any Seller, and both before and after consummation of the respective transactions contemplated by the Transaction Documents, each Seller
(a) will be able to pay its debts, including its stated and contingent liabilities, as they mature, (b) will not have unreasonably small capital for the business in which it is or will be engaged and (c) will be solvent. 

Section 3.09 ACMP Subscription Agreement Representations of the Sellers. The representations and warranties of GIP II Hawk
Holdings Partnership, L.P., in the ACMP Subscription Agreement are true and correct in all material respects. 
 ARTICLE IV

 REPRESENTATIONS AND WARRANTIES WITH RESPECT TO CERTAIN 

ACQUIRED COMPANIES 
 The Sellers jointly and severally represent and warrant to the Buyer as of the date hereof and as of the Closing Date as follows: 
 Section 4.01 Formation; Due Qualification and Authority. Each of the General Partner, AMV and the Partnership is a limited partnership or limited liability company, as the case may be, and
each of the foregoing (a) is duly formed, validly existing and in good standing under the Laws of its jurisdiction of incorporation, organization or formation, as the case may be and (b) is duly authorized, qualified or licensed to do
business and is in good standing in each jurisdiction in which such entity currently conducts businesses or owns, operates, leases, licenses, uses or operates any properties or assets. The Sellers, the General Partner, AMV or the Partnership have
delivered to the Buyer true, correct and complete copies of the Organizational Documents of each of the General Partner, AMV and the Partnership, in each case as currently in effect. All such Organizational Documents are in full force and effect,
and none of the General Partner, AMV or the Partnership is in violation of any provision of any of its respective Organizational Documents. 
 Section 4.02 Power and Authority to Act. 
 (a) General Partner.
The General Partner has full limited liability company power and authority to act as the general partner of the Partnership. 

(b) Manager. AMV has full limited liability company power and authority to act as the manager of the General Partner. The
Partnership has full limited partnership power and authority to act as the manager of OLLC. 

  
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 Section 4.03 Capitalization.  

(a) Partnership. As of the date of this Agreement, the issued and outstanding partnership interests of the Partnership consist of
78,923,118 Common Units, 69,076,122 Subordinated Units, 3,020,390 corresponding Notional General Partner Units, the Incentive Distribution Rights and any limited partnership interests issued to independent directors and officers of the General
Partner pursuant to the Partnership’s long-term incentive plan. As of the date hereof, the Seller Subordinated Units represent a 22.87% Percentage Interest (as defined in the Partnership Agreement). 

(b) General Partner Interest and the Incentive Distribution Rights in the Partnership. The General Partner is the sole general
partner of the Partnership and owns a 2.0% general partner interest in the Partnership (the “GP Interest”), and all of the Incentive Distribution Rights, the GP Interest and the Incentive Distribution Rights have been duly
authorized and validly issued in accordance with the Partnership Agreement and have been fully paid (to the extent required under the Partnership Agreement) and, in the case of the Incentive Distribution Rights, are nonassessable (except as such
nonassessability may be affected by matters described in Sections 17-303, 17-607 and 17-804 of the DRULPA), and the General Partner owns such GP Interest and Incentive Distribution Rights free and clear of all Encumbrances and restrictions imposed
thereon by applicable securities Laws or by the Partnership Agreement. 
 (c) General Partner. AMV is the sole member of
the General Partner and owns 100% of the limited liability company interests in the General Partner; such limited liability company interests have been duly authorized and validly issued in accordance with the General Partner LLC Agreement and have
been fully paid (to the extent required under the General Partner LLC Agreement) and are nonassessable (except as such nonassessability may be affected by matters described in Sections 18-303, 18-607 and 18-804 of the DLLCA); and AMV owns such
limited liability company interests free and clear of all Encumbrances other than restrictions imposed thereon by applicable securities Laws or by the General Partner LLC Agreement. 

(d) Manager. Prior to the Closing, (i) the Sellers collectively own 50% and (ii) GIP II Eagle Holdings Partnership, L.P.
(“GIP Eagle”) owns 50%, of the issued and outstanding limited liability company interests in AMV. All of such interests have been duly authorized and validly issued in accordance with the AMV LLC Agreement and are fully paid
(to the extent required under the AMV LLC Agreement) and nonassessable (except as such 

  
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nonassessability may be affected by Sections 18-303, 18-607 and 18-804 of the DLLCA); and the Sellers own such limited liability company interests free and clear of all Encumbrances other than
restrictions imposed thereon by applicable securities Laws or by the AMV LLC Agreement. 
 (e) Except as set forth in the
Organizational Documents of the General Partner, AMV or the Partnership, (i) there are no preemptive rights, options rights, warrants, appreciation rights, redemption rights, repurchase rights, agreements, arrangements, calls, subscription
agreements, rights of first offer, rights of first refusal, tag along rights, drag along rights, subscription rights or commitments or other rights or Contracts of any kind or character relating to or entitling any Person to purchase or otherwise
acquire any equity interests of the General Partner, AMV or the Partnership or requiring any such entity to issue, transfer, convey, assign, redeem, exchange or otherwise acquire or sell any equity interests, (ii) no equity interests of the
General Partner, AMV or the Partnership are reserved for issuance, other than the equity interests to be issued as contemplated by the ACMP Subscription Agreement, and (iii) assuming the accuracy of the representations of the Buyer set forth in
Section 5.05, the delivery or sale of the Subject Interests as contemplated by this Agreement is exempt from registration requirements of the Securities Act. 
 (f) None of the Subject Interests have been offered, issued, sold or transferred in violation of any applicable Law or preemptive or similar rights. Other than the Registration Rights Agreement, none of
the Acquired Companies is under any obligation, contingent or otherwise, by reason of any Contract, to register the offer and sale or resale of any of the Subject Interests under the Securities Act. 

(g) The Seller Subordinated Units and Seller AMV Units have, as of the date hereof, those rights, preferences, privileges and
restrictions governing the Seller Subordinated Units and Seller AMV Units as are reflected in the Current Partnership Agreement and the Third Amended and Restated Limited Liability Company Agreement of AMV dated June 29, 2012 as amended by the
Amendment No. 1 to the Third Amended and Restated Limited Liability Company Agreement of AMV dated July 24, 2012 (the “Current AMV Agreement”), respectively. 

(h) The Common Units issuable upon conversion of the Seller Subordinated Units have been duly authorized in accordance with the Current
Partnership Agreement and, when issued and delivered to the Buyer as contemplated in accordance with the Partnership Agreement, will be validly issued, fully paid (to the extent required under the Partnership Agreement) and nonassessable (except as
such nonassessability may be affected by matters described in Sections 17-303, 17-607 and 17-804 of the Delaware Act). 

  
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 Section 4.04 Enforceability of Operative Agreements. 

(a) Partnership Agreement. The Current Partnership Agreement has been duly authorized, executed and delivered by the General
Partner and is a valid and legally binding agreement of the General Partner, enforceable against the General Partner in accordance with its terms. 
 (b) General Partner LLC Agreement. The Fourth Amended and Restated Limited Liability Company Agreement of the General Partner dated June 29, 2012, as amended by the Amendment No. 1 to the
Fourth Amended and Restated Limited Liability Company Agreement of the General Partner dated as of July 23, 2012 (the “Current GP Agreement”) has been duly authorized, executed and delivered by the General Partner and
AMV and is a valid and legally binding agreement of the General Partner and AMV, enforceable against each of the General Partner and AMV in accordance with its terms. 
 (c) AMV LLC Agreement. The Current AMV Agreement has been duly authorized, executed and delivered by AMV, GIP Eagle and the Sellers and is a valid and legally binding agreement of each of AMV, GIP
Eagle and the Sellers, enforceable against each of AMV, GIP Eagle and the Sellers in accordance with its terms. 

Section 4.05 Financial Statements; SEC Reports; Disclosure Controls; Sarbanes-Oxley Act of 2002. 

(a) The Partnership SEC Documents set forth true and complete copies of the following financial statements (collectively, the
“Financial Statements”): (i) the audited consolidated balance sheet of the Partnership (with related statements of income, changes in equity and cash flows) as of, and for the years ended on December 31, 2010 and
December 31, 2011 and for the period from October 1 through December 31, 2009 and for the period from January 1 through September 30, 2009 (the “Audited Financial Statements”); and (ii) the
unaudited balance sheets of the Partnership as of September 30, 2012 and September 30, 2011 (with related statements of income, changes in equity, and cash flows for the respective nine-month periods then ended as well as the three-month
period ended September 30, 2012 ) (the “Unaudited Financial Statements”). 

  
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 (b) The Financial Statements were prepared in accordance with GAAP (except that the
Unaudited Financial Statements do not contain all footnotes required under GAAP and are subject to customary quarter or year-end adjustments that are not individually or in the aggregate material). The Audited Financial Statements fairly present, in
all material respects, the consolidated assets and liabilities and results of operations of the Partnership as of the respective dates thereof and for the respective periods covered thereby. The Unaudited Financial Statements fairly present, in all
material respects, the consolidated assets and liabilities and results of operations of the Partnership as of September 30, 2012 and September 30, 2011, subject to customary quarter or year-end adjustments that are not individually or in
the aggregate material and the absence of certain footnote disclosures. 
 (c) SEC Reports. Since January 1, 2012,
the Partnership has filed with or furnished to the Commission on a timely basis all Partnership SEC Documents required to be filed by it under the Exchange Act or Securities Act. As of the time it was filed with or furnished to the Commission (or,
if amended or superseded by a filing prior to the date of this Agreement, then on the date of such filing and in the case of registrations statements, solely on the dates of effectiveness): (i) each of the Partnership SEC Documents complied in
all material respects with the applicable requirements of the Securities Act or the Exchange Act (as the case may be); and (ii) none of the Partnership SEC Documents contained any untrue statement of a material fact or omitted to state a
material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. As of the date hereof, there are no outstanding or unresolved material
comments received from the Commission with respect to any of the Partnership SEC Documents. 
 (d) Disclosure Controls.
To the Knowledge of the Sellers, the Partnership has established and maintains disclosure controls and procedures (to the extent required by and as such term is defined in Rule 13a-15 of the Exchange Act), (b) such disclosure controls and
procedures are designed to ensure that the information required to be disclosed by the Partnership in the reports it files or will file or submit under the Exchange Act, as applicable, is accumulated and communicated to management of the General
Partner and each other Acquired Company, including their respective principal executive officers and principal financial officers, as appropriate, to allow timely decisions regarding required disclosure to be made, and (c) such disclosure
controls and procedures are effective in all material respects to perform the functions for which they were established to the extent required by Rule 13a-15 of the Exchange Act. 

  
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 (e) Sarbanes-Oxley. To the Knowledge of the Sellers, the Partnership and the
directors and officers of the General Partner in their capacities as such, are in compliance in all material respects with all applicable provisions of the Sarbanes-Oxley Act of 2002, the rules and regulations promulgated thereunder and the rules of
the New York Stock Exchange that are effective and applicable to the Partnership. 
 Section 4.06 Entities. Other
than the Partnership and its Subsidiaries, the General Partner does not own, directly or indirectly, any equity or similar interest or long-term debt securities of any Person; and other than the GP Interest and Incentive Distribution Rights (as
defined in the Partnership Agreement), the General Partner does not directly own any material assets,; and the General Partner does not have any material liabilities independent of the Partnership and its Subsidiaries. Other than the General
Partner and its Subsidiaries, AMV does not own, directly or indirectly, any equity or similar interest or long-term debt securities of any other Person; and other than the limited liability company interests in the General Partner, AMV does not
directly own any material assets; and AMV does not have any material liabilities independent of the General Partner or its Subsidiaries.
 Section 4.07 Listing. The Common Units issuable upon the conversion of the Seller Subordinated Units at the end of the Subordination Period (as defined in the Partnership Agreement) have been
approved for listing on the New York Stock Exchange, subject only to official notice of issuance. 
 Section 4.08
Taxes. The Sellers have delivered or made available to the Buyer complete and accurate copies of all Tax Returns of AMV for all taxable years remaining open under the applicable statute of limitations, and complete and accurate copies of all
examination reports and statements of deficiencies assessed against or agreed to by AMV within the past three (3) years. 

ARTICLE V 

REPRESENTATIONS AND WARRANTIES OF THE BUYER 
 The Buyer represents and warrants to the Sellers as of the date hereof and as of the Closing Date as follows: 
 Section 5.01 Existence. The Buyer (a) is duly organized, validly existing and in good standing under the Laws of its jurisdiction of organization and (b) has all requisite power, and
has all material governmental licenses, authorizations, consents and approvals, necessary to own its properties and carry on its business as its business is now being conducted, except where the failure to have such licenses, authorizations,
consents and approvals would not have a Buyer Material Adverse Effect. 

  
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 Section 5.02 Validity of Agreement; Authorization. The Buyer has the requisite
power and authority to enter into the Transaction Documents to which it is or will be party, and to carry out its obligations thereunder. The execution and delivery of the Transaction Documents and the performance of the Buyer’s obligations
thereunder have been duly authorized by the board of directors or similar governing body of the Buyer, and no other proceedings on the part of the Buyer are necessary to authorize such execution, delivery and performance. Each of the Transaction
Documents to which the Buyer is or will be a party has been (in the case of this Agreement and the Transaction Documents executed on the date hereof), or will be at the Closing (in the case of any other Transaction Documents), duly executed and
delivered by the Buyer and constitutes, or will constitute at the Closing, as applicable, the Buyer’s valid and binding obligation, enforceable against the Buyer in accordance with its terms (except to the extent that its enforceability may be
limited by the Remedies Exception). 
 Section 5.03 Consents and Approvals. No consent, approval, waiver or
authorization of, or filing, registration or qualification with any Governmental Authority or any other Person is required on the part of the Buyer for the Buyer to execute and deliver the Transaction Documents to which it is or will be party, or to
perform its obligations thereunder, other than any consent, approval, waiver or authorization that would not have a Buyer Material Adverse Effect. 
 Section 5.04 No Breach. The execution, delivery and performance by the Buyer of the Transaction Documents to which it is or will be a party, and compliance by the Buyer with the terms and
provisions thereof do not (a) violate any provision of any Law applicable to the Buyer or its subsidiaries or any of their respective properties, (b) result in any breach or violation of any provision of the Organizational Documents of the
Buyer or any of its subsidiaries or (c) result in any material violation or breach of or constitute (with or without due notice or lapse of time or both) a material default under any Contract to which the Buyer or any of its subsidiaries is a
party or by which the Buyer or any of its subsidiaries or any of their respective properties may be bound or receives any material right or benefit. 
 Section 5.05 Investment Intent. The Buyer (a) is an “accredited investor” as defined in Rule 501 of Regulation D of the Securities Act and (b) is acquiring the Subject
Interests hereunder solely for the purpose of investment and not with a view to, or for offer or sale in connection with, any distribution thereof other than in compliance with all applicable Laws, including United States federal securities Laws.
The Buyer agrees that the Subject Interests it is 

  
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acquiring hereunder may not be sold, transferred, offered for sale, pledged, hypothecated, or otherwise disposed of without registration under the Securities Act and any applicable state
securities Laws, except pursuant to an exemption from such registration under the Securities Act and such Laws. The Buyer is able to bear the economic risk of holding such Subject Interests for an indefinite period, and (either alone or together
with its advisors) has sufficient knowledge and experience in financial and business matters so as to be capable of evaluating the merits and risk of its investment. Without limiting the effect of the representations and warranties of the Sellers
hereunder, the Buyer has had the opportunity to ask questions, receive answers and obtain such information as it considers to be relevant to its purchase of the Subject Interests hereunder. 

Section 5.06 Available Funds. The Buyer has access to (through cash on hand or existing credit arrangements, arrangements
with its Affiliates, any Debt Financing Sources or otherwise) all of the funds necessary for the acquisition of all of the Subject Interests pursuant to this Agreement, as and when needed, and to perform its obligations under this Agreement.

 Section 5.07 Financial Advisors. The Buyer has not incurred any Liability for fees of any broker, finder or
financial advisor in respect of the transactions contemplated by this Agreement for which the Sellers will have any responsibility or Liability whatsoever. 
 Section 5.08 ACMP Subscription Agreement Representations of the Buyer. The representations and warranties of the Buyer in the ACMP Subscription Agreement are true and correct in all material
respects. 
 Section 5.09 Litigation. As of the date hereof, there are no Proceedings pending or, to the Knowledge
of the Buyer, threatened, against the Buyer or to which the Buyer is otherwise a party or, to the Knowledge of the Buyer, a threatened party, challenging the transactions contemplated by the Transaction Documents or otherwise relating to such
transactions, the Subject Interests or the Transaction Documents. 
 ARTICLE VI 

COVENANTS 
 Section 6.01 Consummation of the Transaction. Each Party shall (a) as promptly as is reasonably practicable, diligently and in good faith use all commercially reasonable efforts to cause
the closing conditions in this Agreement to be satisfied and (b) coordinate and cooperate with the other Party in providing such information and supplying such assistance as may be reasonably requested by such other Party in connection with the
foregoing. Without limiting the generality of the foregoing, each Party shall use commercially reasonable efforts to obtain all 

  
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authorizations, consents, Orders and approvals of, and to give all notices to and make all filings with, all Governmental Authorities and other Persons that may be or become necessary or
advisable for its performance of its obligations under this Agreement and shall cooperate fully with each other Party in promptly seeking to obtain all such authorizations, consents, Orders and approvals, give such notices, and make such filings.
Notwithstanding anything to the contrary contained in this Agreement, including this Section 6.01 and Section 6.02, in no event shall any Party be required hereunder to, or to cause or use commercially reasonable or other
efforts to cause any other Person to, waive or amend any rights under or provisions of the CMO Purchase Agreement or ACMP Subscription Agreement or any related Contracts. If a Party or any of its Affiliates intends to participate in any meeting or
discussion with any Governmental Authority with respect to such filings, it shall give the other Party reasonable prior notice of, and an opportunity to participate in, such meeting or discussion. 

Section 6.02 Conduct Pending the Closing. Except as otherwise expressly contemplated by this Agreement, the ACMP Subscription
Agreement or with the prior written consent of the Buyer, from the date hereof until the Closing or termination of this Agreement as provided in Article X, the Sellers shall not: 

(a) vote any of the Subject Interests in favor of: (i) any amendment to the Current Partnership Agreement; (ii) any amendment
of the Current AMV Agreement; (iii) any Merger Agreement or Plan of Conversion (as such terms are defined in the Partnership Agreement); (iv) any election to dissolve the Partnership or (v) issuing any shares of capital stock,
options, warrants, convertible securities or other rights of any kind to acquire any such shares or any other equity or ownership interest of AMV or the General Partner; 
 (b) transfer, sell, pledge, encumber or dispose of the Subject Interests; 
 (c)
amend or otherwise change its certificate of incorporation or bylaws or equivalent Organizational Documents of the Sellers in any manner that would adversely affect or impede the ability of the Sellers to consummate the transactions contemplated by
this Agreement or any other Transaction Document; 
 (d) (i) sell or dispose of shares of capital stock, options, warrants,
convertible securities or other rights of any kind to acquire any such shares, or any other equity or ownership interest in the General Partner, AMV, or the Partnership, (ii) permit the issuance, sale, pledge or disposal of shares of
partnership interests, partnership units, membership interests, membership units, capital stock, options, warrants, convertible securities or other 

  
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rights of any kind to acquire any such interests, units, stock, shares or any other equity or ownership interest in the General Partner, AMV or the Partnership, except (1) in connection with
the ACMP Equity Issuance or the Public Equity Offering or (2) any equity issuances to employees in the ordinary course of business (and as otherwise previously disclosed to the Buyer) or (iii) take any action intended to subject any shares
of partnership interests, partnership units, membership interests, membership units, capital stock, options, warrants, convertible securities or other rights of any kind to acquire any such interests, units, stock, shares, or any other equity or
ownership in the General Partner, AMV or the Partnership to any Encumbrance (other than Encumbrances pursuant to the Public Equity Offering, the Transaction Documents or the ACMP Subscription Agreement); 

(e) agree to take any action prohibited by this Section 6.02; or 

(f) to the extent the Sellers have the right to consent to such actions under the Current AMV Agreement and the Current GP Agreement,
consent to an Acquired Company taking, or permit any director on the board of directors of the General Partner employed by Global Infrastructure Management, LLC or any of its Affiliates, subject to the fiduciary duties of such director, to consent
to the Acquired Companies taking, any action prohibited by the ACMP Subscription Agreement, including Section 5.2 thereof. 

Section 6.03 Access to Information. At all times from the date hereof until the Closing Date, to the extent the Buyer does
not have the following information or rights and to the extent any Seller has the ability, power and authority to give such information or grant such rights, the Sellers will use commercially reasonable efforts to (a) give the Buyer and its
Representatives reasonable access to the offices, properties, books and records of the Acquired Companies and, to the extent reasonably related to the transactions contemplated by the Transaction Documents, the Sellers, in each case, during normal
business hours and (b) furnish or make available to the Buyer and its Representatives such financial and operating data and other information relating to the Acquired Companies as such Persons may reasonably request, subject to the Buyer’s
and its Representatives’ compliance with applicable Law and contractual restrictions governing the disclosure and use of such information. Notwithstanding the foregoing provisions of this Section 6.03, the Sellers shall not be
required to grant access or furnish information to the Buyer or any of its Representatives to the extent that such information is subject to an attorney/client or attorney work product privilege that would be violated or lost by such access or
furnishing, or that such access or the furnishing of such information is prohibited by Law or an existing Contract; provided that the Sellers shall at Buyer’s request, and sole cost and expense, use commercially reasonable efforts to
obtain necessary consent or waiver in order to grant the 

  
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Buyer access or furnish information subject to such privilege to the extent not with respect to a matter in which Buyer, on the one hand or Seller or any Acquired Company on the other hand, or
their respective Affiliates, have an actual or potential conflict of interest. To the extent practicable, the Sellers shall make reasonable and appropriate substitute disclosure arrangements under circumstances in which the restrictions of the
preceding sentence apply. Any investigation pursuant to this Section 6.03 shall be conducted in such a manner as not to interfere with the conduct of the business of any Seller, its Affiliates or the Acquired Companies. Notwithstanding
the foregoing, the Buyer shall not be entitled to perform any intrusive or subsurface investigation or other sampling of, on or under any of the properties of AMV or the Partnership. The Buyer agrees that it will not, and will cause its
Representatives not to, use any information obtained pursuant to this Section 6.03 in violation of Section 6.06. 
 Section 6.04 Cooperation. After the Closing, upon reasonable written notice, the Buyer and the Sellers shall furnish or cause to be furnished to each other, during normal business hours,
access to such information and assistance relating to the transactions contemplated by the Transaction Documents as is reasonably necessary for financial reporting and accounting matters, the preparation and filing of any Tax Returns, reports or
forms or the defense of any Tax claim or assessment. 
 Section 6.05 Public Statements. The Buyer and the Sellers
shall not, and each shall cause its Representatives not to, issue any public announcements or make other public disclosures regarding this Agreement or the transactions contemplated hereby, without the prior written approval of the Parties;
provided, however, that a Party or its Representatives may issue a public announcement or other public disclosures required by Law or the rules of any stock exchange upon which such Party’s or its parent entity’s or, in the
case of the Sellers, the Partnership’s, equity interests are traded; provided further, that such Party uses commercially reasonable efforts to afford the other Party an opportunity to first review the content of the proposed disclosure
and provide reasonable comment regarding the same; provided further, that nothing herein shall restrict any Party from disclosing information regarding this Agreement and the transactions contemplated hereby to its Representatives to the
extent permitted by Section 6.06. 

  
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 Section 6.06 Confidentiality. 

(a) The Buyer shall hold, and shall cause its Representatives to hold, in confidence, from the date hereof until two (2) years
following the Closing Date, all Seller Confidential Information concerning the Sellers, the Acquired Companies and their respective Affiliates furnished to the Buyer by or on behalf of the Sellers or their Representatives or Affiliates in connection
with the transactions contemplated by this Agreement; provided, however, that the Buyer and its Representatives may disclose such Seller Confidential Information to those of its Representatives that have a need to know such Seller
Confidential Information in connection with the transactions contemplated by this Agreement. If this Agreement is terminated, the Buyer shall hold, and shall cause its Representatives to hold, in confidence all Seller Confidential Information, and
shall cause its Representatives to, at the Sellers’ written request, promptly destroy all such Seller Confidential Information and not retain any copies, extracts or other reproductions in whole or in part of such Seller Confidential
Information, and the Buyer shall, and shall cause its Representatives to, also destroy any documents incorporating or generated from such Seller Confidential Information that are prepared by the Buyer or its Representatives, along with all copies
and reproductions thereof; provided that such obligation to return or destroy Seller Confidential Information shall not require the Buyer or its Representatives to identify and remove any such Seller Confidential Information that may exist in
data or electronic form on the Buyer’s or any of its Representatives’ back-up media, and, in addition, the Buyer and its Representatives may save any copies or derivatives of Seller Confidential Information that they are requested or
required to retain by any Law or Governmental Authority or pursuant to internal audit, legal, regulatory or compliance policies or procedures; provided that such retained Seller Confidential Information is kept confidential subject to the
terms of this Agreement. 
 (b) The Sellers shall hold, and shall cause their Representatives to hold, in confidence, from the
date hereof until two (2) years following the Closing Date, all Buyer Confidential Information concerning the Buyer furnished to the Sellers by or on behalf of the Buyer or its Representatives or Affiliates in connection with the transactions
contemplated by this Agreement; provided, however, that the Sellers and their Representatives may disclose such Buyer Confidential Information to those of its Representatives that have a need to know such Buyer Confidential Information
in connection with the transactions contemplated by this Agreement. If this Agreement is terminated, the Sellers shall hold, and shall cause its Representatives to hold, in confidence, all Buyer Confidential Information, and shall cause their
Representatives to, at the Buyer’s written request, promptly destroy all such Buyer Confidential Information, and not retain any copies, extracts or other reproductions in whole or in part of such Buyer Confidential Information, and the Sellers
shall, and shall cause their Representatives to, also destroy any documents incorporating or generated from such Buyer Confidential Information that are prepared by the Sellers or their Representatives, along with all copies and reproductions
thereof; provided that such obligation to return or destroy the 

  
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Buyer Confidential Information shall not require the Sellers or their Representatives to identify and remove any such Buyer Confidential Information that may exist in data or electronic form on
the Sellers’ or any of their Representative’s back-up media, and, in addition, the Sellers and their Representatives may save any copies or derivatives of Buyer Confidential Information that they are requested or required to retain by any
Law or Governmental Authority or pursuant to internal audit, legal, regulatory or compliance policies or procedures; provided that such retained Buyer Confidential Information is kept confidential subject to the terms of this Agreement.

 (c) In the event that a Party that is subject to a confidentiality obligation under this Section 6.06 or its
Representatives receives a request or is required (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or similar or judicial, legislative, regulatory or administrative body, committee or process (collectively,
a “Tribunal”)) to disclose any Confidential Information, such Party shall, if legally permissible, (i) promptly notify the other Party of the existence and terms of such request, (ii) consult with such other Party
as to the advisability of taking legally available steps to resist or narrow such request and (iii) assist such other Party, at such other Party’s expense, in seeking a protective order or other appropriate remedy. The Party (or its
Representative) receiving the request to produce or provide Confidential Information may disclose to any Tribunal only that portion of the Confidential Information which such Party is advised by counsel is required to be disclosed, and shall
exercise commercially reasonable efforts to assist the other Party, at the other Party’s expense, in obtaining assurance that confidential treatment will be accorded such Confidential Information, and the disclosing Party shall not be liable
for such disclosure unless disclosure to any such Tribunal was caused by or resulted from a previous disclosure by the disclosing Party or its Representatives not permitted by this Section 6.06. 

Section 6.07 Exclusivity. In consideration of the resources, time and expense that the Buyer has and will incur in connection
with the transactions contemplated in this Agreement and the other Transaction Documents, the Sellers agree that they shall not, and shall cause their Affiliates and their respective Representatives not to, from the date hereof until the earlier of
the termination of this Agreement pursuant to Article X and the Closing Date, (a) directly or indirectly (including through Representatives) initiate, solicit, facilitate or knowingly encourage any other proposal relating to a Competing
Transaction (as defined below); (b) directly or indirectly (including through Representatives) negotiate or execute a confidentiality agreement with, or otherwise engage in discussions or negotiations with, or furnish or disclose any non-public
information to, any party other than the Buyer and its designated Representatives, in each 

  
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case, in connection with a Competing Transaction; (c) enter into any letter of intent, agreement in principle, arrangement, understanding or contract relating to any Competing Transaction;
or (d) otherwise cooperate in any way, including through the provision of confidential information, with any person in connection with a Competing Transaction. Without limiting the foregoing, upon execution of this Agreement, the Sellers shall,
and shall cause their Representatives to, cease any and all discussions, negotiations or other activities described in the immediately preceding sentence with any other party engaged in discussions, negotiations or other activities with the Sellers
or any of their Representatives regarding a Competing Transaction. As used in this Agreement, “Competing Transaction” means any direct or indirect sale, lease, license, exchange, mortgage, transfer or other disposition, or
financing, in a single transaction or series of related transactions, of all or any portion of the Subject Interests or of the Assets or all or any portion of the Sellers’ equity interests, the Subject Interests, or any equity interests in any
of the Acquired Companies (other than the ACMP Equity Issuance and the Public Equity Offering and equity issuances to management in the ordinary course of business and as otherwise previously disclosed to the Buyer), whether by sale, merger,
consolidation, share exchange, business combination, purchase or sale of shares of capital stock or other equity interests or securities, reorganization or recapitalization, loan, issuance of securities or any other transaction that would, or would
reasonably be expected to, preclude or adversely affect the consummation of the transactions contemplated by this Agreement or any other Transaction Document; provided that “Competing Transaction” shall exclude any transaction
solely to the extent involving any financing relating to any of the Acquired Companies that would not preclude or adversely affect the consummation of the transactions contemplated by this Agreement or any other Transaction Document. 

ARTICLE VII 

CLOSING 
 Section 7.01 Conditions Precedent to Obligations of the Parties. The obligations of each Party to effect the Closing and to consummate the transactions contemplated by this Agreement are
subject to the satisfaction or waiver by such Party on or prior to the Closing Date of the following conditions: 
 (a) no Law
or Order (including any rules and regulations of the Federal Trade Commission and the Antitrust Division of the Department of Justice) is in effect that makes illegal the consummation of, this Agreement or any other applicable Transaction Document
or the transactions contemplated hereby and thereby; 

  
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 (b) the CMO Disposition shall have been consummated, or shall be consummated
contemporaneously with the Closing, without any amendment to the CMO Purchase Agreement or waiver of any of the conditions to the Partnership’s obligations to effect the closing thereunder; and 

(c) the ACMP Equity Issuance shall have been consummated, or shall be consummated contemporaneously with the Closing, provided,
however, this condition shall be deemed to be satisfied, with respect to the Buyer, if the only reason for the ACMP Equity Issuance not to be consummated is due to a breach by the Buyer of this Agreement or the ACMP Subscription Agreement
and, this condition shall be deemed to be satisfied with respect to the Sellers, if the only reason for the ACMP Equity Issuance not to be consummated is due to a breach of this Agreement by the Sellers or of the ACMP Subscription Agreement by the
Partnership. 
 Section 7.02 Conditions Precedent to Obligations of the Buyer. The obligation of the Buyer to effect
the Closing and consummate the transactions contemplated by this Agreement is subject to the satisfaction or waiver, in whole or in part (to the extent permitted by applicable Law), on or prior to the Closing Date of each of the following
conditions: 
 (a) each of the Fundamental Representations of the Sellers set forth in this Agreement shall be true and correct
in all material respects (other than representations and warranties that are qualified as to materiality, material adverse effect or words of similar import, which representations and warranties shall be true and correct in all respects) on and as
of the date hereof and as of the Closing Date, with the same force and effect as though made on and as of such date; provided, however, that the representation and warranty set forth in Section 4.03(a) shall be deemed to be
true and correct solely for the purpose of this Section 7.02(a) (but not for any other purpose), if the total number of Common Units, the total number of Subordinated Units and the corresponding Notional General Partner Units set forth
therein, do not vary from the actual total number of Common Units, the actual total number of Subordinated Units and the corresponding Notional General Partner Units on the date hereof by more than two percent (2%); provided, further,
for the purposes of clarification, this Section 7.02(a) shall not limit any of the Buyer’s rights or remedies under Article VIII; 
 (b) the Sellers shall not have breached in any material respect their obligations set forth in Section 6.02 unless such breach has been cured at or prior to the Closing Date; and 

(c) the Buyer shall have received the items listed in Section 7.04. 

  
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 Section 7.03 Conditions Precedent to Obligations of the Sellers. The obligation
of the Sellers to effect the Closing and consummate the transactions contemplated by this Agreement is subject to the satisfaction or waiver, in whole or in part (to the extent permitted by applicable Law), on or prior to the Closing Date of each of
the following conditions: 
 (a) each of the Fundamental Representations of the Buyer set forth in this Agreement shall be true
and correct in all respects (disregarding any materiality, Buyer Material Adverse Effect or similar qualifier (including through the use of any defined term containing any such qualifier)), in each case, (i) as of the date of this Agreement and
as of the Closing as though made at and as of the Closing, unless such representations and warranties expressly relate to an earlier date (in which case they shall be true and correct as of such earlier date) and (ii) except where a failure to
be so true and correct has not had a Buyer Material Adverse Effect; 
 (b) the Buyer shall not have materially breached any
obligations and agreements required to be performed and complied with by it prior to the Closing Date, except for any such breach that has not had a Buyer Material Adverse Effect; and 

(c) the Sellers shall have received the items listed in Section 7.05. 

Section 7.04 Seller Deliveries. At the Closing, subject to the terms and conditions of this Agreement, the Sellers shall
deliver, or cause to be delivered, to the Buyer: 
 (a) the Subject Interests by delivering a written instrument of assignment
and evidence of the transfer thereof, in the case of the Seller Subordinated Units, from the transfer agent of the Subordinated Units, and, in the case of the Seller AMV Units, from AMV, free and clear of any Encumbrances (other than Encumbrances
existing under the Partnership Agreement, the AMV LLC Agreement or those arising under applicable securities Laws); 
 (b) a
certificate duly executed by the Secretary or an Assistant Secretary of the general partner of each Seller, dated as of the Closing Date, in customary form, attesting to (i) the Organizational Documents of such Seller and (ii) the
resolutions of the board of managers, board of directors or similar governing body of such Seller authorizing the execution and delivery of the Transaction Documents to which such Seller is a party and the consummation of the transactions
contemplated hereby and thereby, and certifying that such resolutions were duly adopted and have not been rescinded or amended as of the Closing Date; 

  
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 (c) a certificate duly executed by an executive officer of the general partner of each
Seller, dated as of the Closing Date, in customary form, to the effect that each of the conditions specified in Section 7.02(a) and (b), have been satisfied in all respects; 

(d) evidence of the designation, effective as of the Closing, to the board of directors of the General Partner and the board of managers
of AMV of those Persons the Buyer is entitled to designate pursuant to the General Partner LLC Agreement and the AMV LLC Agreement, as applicable; 
 (e) a certificate dated as of a recent date of the Secretary of State of the State of Delaware with respect to the valid existence and good standing in the State of Delaware of each of the Sellers;

 (f) a receipt, dated as of the Closing Date, executed by the Sellers and delivered to the Buyer certifying that the Sellers
have received the Purchase Price; 
 (g) a certificate, duly executed and acknowledged by the Sellers’ regarded owners,
dated as of the Closing Date, in accordance with Treasury Regulation Section 1.1445-2(b)(2), certifying that applicable transferor is not a “foreign person” within the meaning of Section 1445 of the Code; 

(h) a counterpart duly executed by GIP Eagle and AMV of the Fourth Amended and Restated Limited Liability Company Agreement of AMV,
substantially in the form agreed to by the Parties (the “AMV LLC Agreement”); 
 (i) the Fifth Amended
and Restated Limited Liability Company Agreement of the General Partner, substantially in the form agreed to by the Parties (the “General Partner LLC Agreement”), duly executed by AMV and the General Partner; and 

(j) the Seller Guarantee, duly executed by Global Infrastructure Partners – A, L.P., Global Infrastructure Partners – B, L.P.,
and Global Infrastructure Partners – C, L.P. 
 Section 7.05 Buyer Deliveries. At the Closing, subject to the
terms and conditions of this Agreement, the Buyer shall deliver, or cause to be delivered to the Sellers: 
 (a) payment of the
Purchase Price in accordance with Section 2.01; 
 (b) a counterpart duly executed by the Buyer of the AMV LLC
Agreement; 

  
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 (c) a certificate duly executed by the Secretary or an Assistant Secretary of the Buyer,
dated as of the Closing Date, in customary form, attesting to the resolutions of the board of directors or other governing body of the Buyer authorizing the execution and delivery of the Transaction Documents to which the Buyer is a party and the
consummation of the transactions contemplated hereby and thereby, and certifying that such resolutions were duly adopted and have not been rescinded or amended as of the Closing Date; 

(d) a certificate duly executed by an executive officer of the Buyer, dated as of the Closing Date, in customary form, to the effect that
each of the conditions specified in Section 7.03(a) and (b) have been satisfied in all respects; 
 (e)
a certificate dated as of a recent date of the Secretary of State of the State of Delaware with respect to the valid existence and good standing in the State of Delaware of the Buyer; and 

(f) a receipt, dated as of the Closing Date, executed by the Buyer and delivered to the Sellers certifying that the Buyer has received
the Subject Interests sold to the Buyer. 
 ARTICLE VIII 

INDEMNIFICATION, COSTS AND EXPENSES 
 Section 8.01 Survival of Representations and Warranties. The representations and warranties of the Parties contained in this Agreement and any certificate delivered pursuant hereto shall
survive the Closing for fifteen (15) months following the Closing Date, except that the representations and warranties set forth in Section 3.01 (Existence); Section 3.02 (Validity of Agreement; Authorization);
Section 3.03 (Consents and Approvals); Section 3.04(b)(i) (No Breach); Section 3.05 (Ownership, Due Authorization and Transfer of Subject Interests); Section 3.07 (Financial Advisors),
Section 4.01 (Formation; Due Qualification and Authority), Section 4.02 (Power and Authority to Act), Section 4.03 (Capitalization), Section 4.04(a) (Enforceability of Operative Agreements),
Section 5.01 (Existence), Section 5.02 (Validity of Agreement; Authorization), Section 5.03 (Consents and Approvals), Section 5.04(a) and Section 5.04(b) (No Breach), and
Section 5.07 (Financial Advisers) (collectively, the “Fundamental Representations”) and any Fundamental Representations in any certificate delivered pursuant hereto, shall survive the Closing three (3) years
(the applicable period of survival of a representation, warranty or covenant being the “Survival Period”); provided that, notwithstanding the expiration of any Survival Period, any obligations under
Section 8.02(a) and 

  
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(b) shall not terminate with respect to any Losses as to which the Person to be indemnified shall have given notice to the Indemnifying Party in accordance with Section 8.03(a)
before the termination of the applicable Survival Period. The Survival Period for all covenants contained in this Agreement that, by their terms, are to be performed at or prior to the Closing, shall be fifteen (15) months after the Closing,
and all covenants contained in this Agreement that, by their terms, are to be performed after the Closing, shall survive the Closing until the performance of such covenants in accordance with their terms. 

Section 8.02 Indemnification.  
 (a) From and after the Closing, subject to Section 8.01 and Section 8.04, the Sellers, jointly and severally, hereby agree to indemnify and hold the Buyer and each of its current
and future Affiliates (excluding any Person that is or becomes an Affiliate of the Buyer solely as a result of the purchase of publicly traded securities from the general public) and each of the respective indirect and direct equity holders,
members, directors, managers, officers, employees and agents of the foregoing (collectively, the “Buyer Indemnified Parties”) harmless from and against, and pay to the applicable Buyer Indemnified Parties the amount of, any
and all losses, liabilities, claims, obligations, deficiencies, demands, judgments, settlements, damages, interest, fines, penalties, claims, suits, actions, causes of action, assessments, awards, Taxes, costs and expenses (including costs of
investigation and defense and attorneys’ and other professionals’ fees), whether or not involving a Third Party Claim (a “Loss”) based upon, attributable to or resulting from (including any and all Proceedings,
demands, or assessments arising out of): 
 (i) any inaccuracy, untruth or breach of the representations or warranties made by
the Sellers in this Agreement and in any certificate delivered pursuant hereto; and 
 (ii) any breach of any covenant or other
agreement on the part of the Sellers under this Agreement and in any certificate delivered pursuant hereto. 
 (b) From and
after the Closing, subject to Section 8.01 and Section 8.04, the Buyer hereby agrees to indemnify and hold the Sellers and their respective Affiliates and each of the members, directors, managers, officers, employees and
agents of the foregoing (collectively, the “Seller Indemnified Parties”) harmless from and against, and pay to the applicable Seller Indemnified Parties the amount of, any and all Losses based upon, attributable to or
resulting from (including any and all Proceedings, demands, or assessments arising out of): 

  
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 (i) any inaccuracy, untruth or breach of the representations or warranties made by the
Buyer in this Agreement and any certificate delivered pursuant hereto; and 
 (ii) any breach of any covenant or other
agreement on the part of the Buyer under this Agreement and in any certificate delivered pursuant hereto. 
 (c) Materiality,
Seller Material Adverse Effect, Company Material Adverse Effect, Buyer Material Adverse Effect and similar qualifiers contained in any representation or warranty, or in any defined term used therein, shall be disregarded for purposes of subsections
(a)(i) and (b)(i) of this Section 8.02 in (i) determining any inaccuracy, untruth or breach of the representations or warranties contained herein and (ii) calculating the amount of Losses suffered by an
Indemnified Party. 
 Section 8.03 Indemnification Procedure.  

(a) Each Indemnified Party agrees that promptly after it becomes aware of facts giving rise to a claim by it for indemnification pursuant
to Section 8.02, such Indemnified Party will assert its claim for indemnification under Section 8.02 (each, a “Claim”) by providing a written notice (a “Claim Notice”) within
the applicable Survival Period to the applicable indemnifying party (the “Indemnifying Party”) specifying, in reasonable detail, to the extent known by such Indemnified Party, the nature and basis for such Claim (e.g., the
underlying representation, warranty or covenant alleged to have been breached and the condition or conduct allegedly resulting in such breach). Notwithstanding the foregoing, an Indemnified Party’s delay in sending a Claim Notice will not
relieve the Indemnifying Party from Liability hereunder with respect to such Claim except to the extent (and limited solely to the extent) of any material prejudice to the Indemnifying Party by such failure or delay, provided that such Claim
Notice is provided within the applicable Survival Period. 
 (b) In the event that any Proceeding is instituted or any Claim is
asserted by any Third Party in respect of which indemnification may be sought under Section 8.02 hereof and in respect of which the Indemnifying Party has agreed in writing to indemnify the Indemnified Party for all of such Indemnified
Party’s Losses (subject to any applicable limitations in this Article VIII) (a “Third Party Claim”), the Indemnifying Party will have the right, at such Indemnifying Party’s expense, to assume the defense of
same including the appointment and selection of counsel on behalf of the Indemnified Party so long as such 

  
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counsel is reasonably acceptable to the Indemnified Party. If the Indemnifying Party elects to assume the defense of any such Third Party Claim, it shall within thirty (30) days notify the
Indemnified Party in writing of its intent to do so. Subject to Section 8.03(c), the Indemnifying Party will have the right to settle or compromise or take any corrective or remedial action with respect to any such Third Party Claim by
all appropriate proceedings, which proceedings will be diligently prosecuted by the Indemnifying Party to a final conclusion or settled at the discretion of the Indemnifying Party. The Indemnified Party will be entitled, at its own cost, to
participate with the Indemnifying Party in the defense of any such Third Party Claim, unless separate representation of the Indemnified Party by counsel is reasonably necessary to avoid a conflict of interest, in which case such representation shall
be at the expense of the Indemnifying Party. If the Indemnifying Party assumes the defense of any such Third Party Claim but fails to diligently prosecute such Third Party Claim, or if the Indemnifying Party does not assume the defense of any such
Third Party Claim, the Indemnified Party may assume control of such defense and in the event the Third Party Claim is determined to be a matter for which the Indemnifying Party is required to provide indemnification under the terms of this
Article VIII, the Indemnifying Party will bear the reasonable costs and expenses of such defense (including fees and expenses of counsel). 
 (c) Notwithstanding anything to the contrary in this Agreement, the Indemnifying Party will not be permitted to settle, compromise, take any corrective or remedial action or enter into an agreed judgment
or consent decree or permit a default without the Indemnified Party’s prior written consent, in each case, that (i) does not include as an unconditional term thereof the delivery by the claimant or plaintiff to the Indemnified Party of a
binding, irrevocable, written release of any Indemnified Party from all Liability, (ii) provides for any admission of Liability on the part of any Indemnified Party, (iii) requires an admission of guilt or wrongdoing on the part of any
Indemnified Party or (iv) imposes any Liability or continuing obligation on or requires any payment from any Indemnified Party. 
 Section 8.04 Limitations.  
 (a) No Indemnifying Party shall have any
Liability under Section 8.02(a)(i) or Section 8.02(b)(i) related to a representation or warranty other than a Fundamental Representation in respect of any individual claim involving Losses to any Indemnified Party of less
than $100,000 (each, a “De Minimis Claim”), unless such individual claim is directly related to one or more other claims which in the aggregate involve Losses in excess of $100,000, in which case, the Indemnifying Party will
have Liability for the full amount of such claims (subject to the other limitations contained in this Section 8.04) and such claims shall not 

  
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be considered De Minimis Claims (it being understood and agreed that notwithstanding anything in the foregoing to the contrary, solely for the purposes of this Section 8.04(a), all
claims related to any fact or circumstance that causes any representation or warranty made in any particular Section of this Agreement to be inaccurate shall be deemed to be related to all other claims related to such fact or circumstance).

 (b) No Buyer Indemnified Party shall be entitled to indemnification pursuant to Section 8.02(a)(i) related to a
representation or warranty other than a Fundamental Representation unless the aggregate of all Losses claimed by the Buyer Indemnified Parties pursuant to such section that are not De Minimis Claims exceeds 1% of the Purchase Price (the
“Claim Deductible”), in which case, subject to Section 8.04(d), the Sellers shall indemnify the Buyer Indemnified Party only for the Losses in excess of the Claim Deductible. 

(c) No Seller Indemnified Party shall be entitled to indemnification pursuant to Section 8.02(b)(i) related to a
representation or warranty other than a Fundamental Representation unless the aggregate of all Losses claimed by the Seller Indemnified Parties pursuant to such section exceeds the Claim Deductible, in which case, subject to
Section 8.04(d), the Buyer shall indemnify the Seller Indemnified Party only for the Losses in excess of the Claim Deductible. 
 (d) The Sellers shall not have any obligation to indemnify the Buyer Indemnified Parties under Section 8.02(a)(i) for Losses that exceed, in the aggregate, 10% of the Purchase Price;
provided, however, that such limitation shall not apply to Losses of the Buyer Indemnified Parties arising from any Fundamental Representation, and the Sellers’ aggregate Liability for such Losses, together with any other
indemnifiable Losses, shall not exceed the Purchase Price. The Buyer shall not have any obligation to indemnify the Seller Indemnified Parties under Section 8.02(b)(i) for Losses that exceed, in the aggregate, 10% of the Purchase Price;
provided, however, that such limitation shall not apply to Losses of the Seller Indemnified Parties arising from any Fundamental Representation, and the Buyer’s aggregate Liability for such Losses, together with any other
indemnifiable Losses, shall not exceed the Purchase Price. 
 (e) NOTWITHSTANDING ANYTHING TO THE CONTRARY IN THIS AGREEMENT,
NEITHER THE BUYER NOR ANY SELLER NOR THEIR RESPECTIVE AFFILIATES SHALL BE LIABLE HEREUNDER TO ANY INDEMNIFIED PARTY FOR ANY (i) PUNITIVE OR EXEMPLARY DAMAGES OR (ii) LOST PROFITS OR CONSEQUENTIAL, SPECIAL OR INDIRECT DAMAGES EXCEPT, IN THE
CASE OF 

  
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THIS CLAUSE (ii), TO THE EXTENT SUCH LOST PROFITS OR DAMAGES ARE (x) NOT BASED ON ANY SPECIAL CIRCUMSTANCES OF THE PARTY ENTITLED TO INDEMNIFICATION AND (y) THE NATURAL, PROBABLE AND
REASONABLY FORESEEABLE RESULT OF THE EVENT THAT GAVE RISE THERETO OR THE MATTER FOR WHICH INDEMNIFICATION IS SOUGHT HEREUNDER, REGARDLESS OF THE FORM OF ACTION THROUGH WHICH SUCH DAMAGES ARE SOUGHT, EXCEPT IN EACH CASE OF THE FOREGOING CLAUSES
(i) AND (ii), TO THE EXTENT ANY SUCH LOST PROFITS OR DAMAGES ARE INCLUDED IN ANY ACTION BY A THIRD PARTY AGAINST SUCH INDEMNIFIED PARTY FOR WHICH IT IS ENTITLED TO INDEMNIFICATION UNDER THIS AGREEMENT. 

Section 8.05 Calculation of Losses. In calculating amounts payable to an Indemnified Party, the amount of any indemnified
Losses shall be computed net of (a) payments actually recovered by any Indemnified Party under any insurance policy with respect to such Losses net of expenses and (b) any actual recovery by any Indemnified Party from any Person with
respect to such Losses net of expenses. Each Indemnified Party shall use commercially reasonable efforts to pursue reimbursement for Losses, including under insurance policies and indemnity arrangements. 

Section 8.06 No Duplication. In no event shall any Indemnified Party be entitled to recover any Losses under one Section or
provision of this Agreement to the extent of the full amount of such Losses already recovered by such Indemnified Party, nor shall its insurer or indemnitor be entitled to any kind of subrogation or substitution which would give it the right to make
a claim against the Indemnifying Party. 
 Section 8.07 Tax Treatment of Indemnity Payments. The Sellers and the
Buyer agree to treat any indemnity payment made pursuant to this Article VIII as an adjustment to the Purchase Price for all Tax purposes, unless otherwise required by Law. 

Section 8.08 Exclusive Remedy. 
 (a) EXCEPT (i) PURSUANT TO THIS ARTICLE VIII, SECTION 12.06 OR ANY OTHER TRANSACTION DOCUMENT OR (ii) IN THE CASE OF CRIMINAL ACTIVITY OR FRAUD ON THE PART OF ANY PARTY, BUT
OTHERWISE NOTWITHSTANDING ANYTHING TO THE CONTRARY IN THIS AGREEMENT, IF THE CLOSING OCCURS, NO PARTY SHALL HAVE ANY LIABILITY, AND NO PARTY SHALL MAKE ANY CLAIM, FOR ANY LOSS (AND THE PARTIES HEREBY WAIVE

  
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ANY RIGHT OF CONTRIBUTION AGAINST EACH OTHER AND THEIR RESPECTIVE AFFILIATES) UNDER, ARISING OUT OF, OR RELATING TO THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREBY OR ANY CERTIFICATE
DELIVERED PURSUANT TO THIS AGREEMENT, WHETHER BASED IN CONTRACT, TORT, STRICT LIABILITY, COMMON LAW, OTHER LAWS OR OTHERWISE. HOWEVER, NOTHING IN THIS SECTION 8.08 SHALL LIMIT THE RIGHTS OF A PARTY TO (i) SEEK AND OBTAIN INJUNCTIVE
RELIEF IN ACCORDANCE WITH SECTION 12.06 OR (ii) PURSUE CLAIMS PURSUANT TO OR ARISING UNDER THE AMV LLC AGREEMENT, THE GENERAL PARTNER LLC AGREEMENT AND THE SELLER GUARANTEE, IN EACH CASE, TO THE EXTENT PROVIDED FOR THEREIN. 

(b) Except as otherwise expressly set forth in this Agreement, any other Transaction Document or in any certificate delivered pursuant
hereto or thereto, each of the Parties, on behalf of itself and its Affiliates, covenants, agrees and acknowledges that (i) no Person other than the express Parties hereto or thereto shall have any obligation or Liability hereunder, under any
Transaction Document or under any certificate delivered pursuant hereto or thereto, and (ii) the Parties and their Affiliates and Representatives shall have no rights of recovery in respect hereof or thereof against, no recourse in respect
hereof or thereof shall be had against, and no personal Liability in respect hereof or thereof shall attach to, any Acquired Company (other than any party to any of the Transaction Documents to the extent of its obligations thereunder to the other
parties thereto or express third party beneficiaries thereof) or any former, current or future Affiliate, general or limited partner, member, equity holder, Representative, director, officer, agent, manager, assignee or employee of any Party, of any
Acquired Company or of any Affiliate of any of the foregoing (other than any party to any of the Transaction Documents to the extent of its obligations thereunder), or any of their respective successors or permitted assignees (excluding any party to
the Transaction Documents to the extent of its obligations thereunder to the other parties thereto or express third party beneficiaries thereof, collectively, “Non-Recourse Persons”), whether by or through attempted piercing
of the “corporate veil”, by or through a claim (whether in tort, contract, at law, in equity or otherwise) by or on behalf of any Party against any Non-Recourse Person, by the enforcement of any judgment, fine or penalty or by any legal or
equitable proceeding, or by virtue of any statute, regulation or other applicable Law, or otherwise. The Non-Recourse Persons shall be express third party beneficiaries of this Section 8.08(b) as if expressly party hereto. 

(c) Notwithstanding Section 8.08(a), nothing contained in this Section 8.08 shall prevent any Party from seeking
and obtaining injunctive relief against the other Party’s activities in breach of this Agreement. 

  
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 (d) For the avoidance of doubt and notwithstanding anything in the foregoing, nothing in
this Agreement shall limit any claims, remedies or rights of any Party or other Person under the AMV LLC Agreement, the General Partner LLC Agreement and the Seller Guarantee, in each case, to the extent provided for therein. 

Section 8.09 No Reliance. EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES MADE IN THIS AGREEMENT, ANY TRANSACTION DOCUMENT OR
IN ANY CERTIFICATE DELIVERED PURSUANT HERETO OR THERETO, NONE OF THE PARTIES OR ANY OTHER PERSON, INCLUDING ANY AFFILIATE OF ANY PARTY, MAKES ANY OTHER REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, WITH RESPECT TO SUCH PARTIES OR THE TRANSACTIONS
CONTEMPLATED BY THIS AGREEMENT, AND EACH PARTY DISCLAIMS ANY SUCH OTHER REPRESENTATIONS OR WARRANTIES, WHETHER MADE BY SUCH PARTIES OR ANY OF THEIR AFFILIATES, OFFICERS, DIRECTORS, EMPLOYEES, AGENTS OR REPRESENTATIVES (INCLUDING WITH RESPECT TO THE
DISTRIBUTION OF, OR ANY SUCH PERSON’S RELIANCE ON, ANY INFORMATION, DISCLOSURE OR OTHER DOCUMENT OR OTHER MATERIAL MADE AVAILABLE IN ANY DATA ROOM, MANAGEMENT PRESENTATION OR IN ANY OTHER FORM IN EXPECTATION OF, OR IN CONNECTION WITH, THE
TRANSACTIONS CONTEMPLATED HEREBY). EXCEPT FOR THE EXPRESS REPRESENTATIONS AND WARRANTIES SET FORTH IN THIS AGREEMENT, ANY TRANSACTION DOCUMENT OR IN ANY CERTIFICATE DELIVERED PURSUANT HERETO OR THERETO, EACH PARTY HEREBY DISCLAIMS ALL LIABILITY AND
RESPONSIBILITY FOR ANY REPRESENTATION, WARRANTY, PROJECTION, FORECAST, STATEMENT, OR INFORMATION MADE, COMMUNICATED, OR FURNISHED (ORALLY OR IN WRITING) TO ANY OTHER PARTY OR ITS AFFILIATES, OFFICERS, DIRECTORS, EMPLOYEES, AGENTS OR REPRESENTATIVES
(INCLUDING OPINION, INFORMATION, PROJECTION, OR ADVICE THAT MAY HAVE BEEN OR MAY BE PROVIDED TO ANY PARTY OR ANY DIRECTOR, OFFICER, EMPLOYEE, AGENT, CONSULTANT OR REPRESENTATIVE OF SUCH PARTY OR ANY OF ITS AFFILIATES) WITH RESPECT TO SUCH PARTY OR
THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. 

  
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 ARTICLE IX 
 TAX MATTERS 
 Section 9.01 Transfer Taxes. The Buyer and
the Sellers agree that any transfer, documentary, sales, use, stamp, registration and similar taxes (“Transfer Taxes”) and fees arising out of or in connection with the transactions effected pursuant to this Agreement shall
be borne entirely by the Sellers. Any Tax Returns filed in connection with Transfer Taxes shall be prepared and timely filed by the Sellers; provided that if Buyer is responsible under applicable Law for filing any such Tax Return, the
Sellers shall provide such Tax Return to Buyer at least ten (10) days prior to the due date for such Tax Return for the Buyer’s review, approval and execution. Upon the filing of Tax Returns in connection with Transfer Taxes, the Sellers
shall provide the Buyer with evidence satisfactory to the Buyer that such Tax Returns have been filed and all Transfer Taxes have been paid. 
 ARTICLE X 
 TERMINATION 

Section 10.01 Termination of Agreement. This Agreement may be terminated prior to the Closing as follows: 

(a) by the mutual written consent of the Sellers and the Buyer; 
 (b) by the Sellers or the Buyer if there shall be in effect a final nonappealable order of a Governmental Authority of competent jurisdiction restraining, enjoining or otherwise prohibiting the
consummation of the transactions contemplated hereby; provided that the right to terminate this Agreement under this Section 10.01(b) shall not be available to any Seller, on the one hand, or the Buyer, on the other hand, if such
order was primarily due to the failure of any of the Sellers, on the one hand, or the Buyer, on the other hand, to perform any of its obligations under this Agreement; 
 (c) by the Buyer if any Seller shall have breached or failed to perform any of its representations, warranties, covenants or agreements set forth in this Agreement, or if any representation or warranty of
any Seller shall have become untrue, in either case such that the conditions set forth in Section 7.02(a) or (b) would not be satisfied and such breach is incapable of being cured or, if capable of being cured, shall not have
been cured within ten (10) days following receipt by the Sellers of notice of such breach from the Buyer; 

  
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 (d) by the Sellers if the Buyer shall have breached or failed to perform any of its
representations, warranties, covenants or agreements set forth in this Agreement, or if any representation or warranty of the Buyer shall have become untrue, in either case such that the conditions set forth in Section 7.03(a) or
(b) would not be satisfied and such breach is incapable of being cured or, if capable of being cured, shall not have been cured within ten (10) days following receipt by the Buyer of notice of such breach from the Sellers;

 (e) by the Sellers or the Buyer if the CMO Purchase Agreement is terminated in accordance with its terms; or 

(f) by the Sellers or the Buyer in the event that the Closing does not occur on or before the later of January 31, 2013 or the
Outside Date (as defined in the CMO Purchase Agreement as such date may be amended from time to time with the prior written consent of the Buyer); provided that such failure of the Closing to occur is not due to the failure of such Party to
perform and comply in all material respects with the covenants and agreements to be performed or complied with by such Party prior to the Closing. 
 Section 10.02 Procedure Upon Termination. In the event of termination of this Agreement by the Buyer or the Sellers, or both, pursuant to Section 10.01, written notice thereof
shall forthwith be given to the other Party or Parties, and this Agreement shall terminate, and the purchase of the Subject Interests hereunder shall be abandoned, without further action by the Buyer or the Sellers. 

Section 10.03 Effect of Termination. In the event that this Agreement is terminated as provided in Section 10.01,
then each of the Parties shall be relieved of its duties and obligations arising under this Agreement after the date of such termination and such termination shall be without Liability to the Buyer or the Sellers; provided that the agreements
and obligations of the Parties set forth in Section 8.08(b), this Section 10.03, Article XI and Article XII hereof shall survive any such termination and shall be enforceable hereunder; provided further,
that nothing in this Section 10.03 shall relieve the Buyer or the Sellers of any Liability for a breach of this Agreement. 
 ARTICLE XI 
 GOVERNING LAW; CONSENT TO JURISDICTION; WAIVER OF JURY
TRIAL 
 Section 11.01 Governing Law; Consent to Jurisdiction; Waiver of Jury Trial. This Agreement and all
questions relating to the interpretation or enforcement of this Agreement shall be governed by and construed in accordance with the Laws of the State of Delaware without 

  
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regard to the Laws of the State of Delaware or any other jurisdiction that would call for the application of the substantive laws of any jurisdiction other than Delaware. Each Party hereby agrees
that service of summons, complaint or other process in connection with any Proceedings contemplated hereby may be made in accordance with Section 12.03 addressed to such Party at the address specified pursuant to
Section 12.03. Each of the Parties irrevocably submits to the exclusive jurisdiction of the United States District Court for the District of Delaware, or in the event, but only in the event, that such court does not have jurisdiction
over such action or proceeding, to the exclusive jurisdiction of the Delaware Court of Chancery (or, in the event that such court does not have jurisdiction over such action or Proceeding, to the exclusive jurisdiction of the Delaware Superior
Court) (collectively, the “Courts”), for the purposes of any Proceeding arising out of or relating to this Agreement or any transaction contemplated hereby (and agrees not to commence any Proceeding relating hereto except in
such Courts). Each of the Parties further agrees that service of any process, summons, notice or document hand delivered or sent in accordance with Section 12.03 to such Party’s respective address set forth in
Section 12.03 will be effective service of process for any Proceeding in Delaware with respect to any matters to which it has submitted to jurisdiction as set forth in the immediately preceding sentence. Each of the Parties irrevocably
and unconditionally waives any objection to the laying of venue of any Proceeding arising out of or relating to this Agreement, the Transaction Documents or the transactions contemplated hereby or thereby in the Courts, and hereby further
irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such Proceeding brought in any such court has been brought in an inconvenient forum. Notwithstanding the foregoing, each Party agrees that a final
judgment in any Proceeding properly brought in accordance with the terms of this Agreement shall be conclusive and may be enforced by suit on the judgment in any jurisdiction or in any other manner provided at law or in equity. EACH PARTY WAIVES ALL
RIGHT TO TRIAL BY JURY IN ANY PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER THIS AGREEMENT AND ANY DOCUMENT EXECUTED IN CONNECTION HEREWITH. 
 Section 11.02 Provision in respect of Debt Financing Sources. Notwithstanding anything herein to the contrary, each of the Sellers agrees (i) that it will not, and it will not permit any
of its Affiliates to, bring or support anyone else in bringing any action, cause of action, claim, cross-claim or Third Party claim of any kind or description, whether in law or in equity, whether in contract or in tort or otherwise, against the
Debt Financing Sources in any way relating to this Agreement or any of the transactions contemplated hereby in any forum other than any New York State court or federal court sitting in the City of New York in the Borough of Manhattan (and any
appellate courts thereof) and (ii) TO WAIVE AND HEREBY WAIVE ANY RIGHT TO TRIAL BY JURY IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING AGAINST ANY DEBT FINANCING SOURCE. 

  
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 ARTICLE XII 
 MISCELLANEOUS 
 Section 12.01 Amendments and
Modifications. This Agreement may be amended, modified or supplemented only by written agreement of the Parties hereto. 

Section 12.02 Waiver of Compliance; Consents. Except as otherwise provided in this Agreement, any failure of any of the
Parties to comply with any obligation, covenant, agreement or condition herein may be waived by the Party entitled to the benefits thereof only by a written instrument signed by the Party granting such waiver, but such waiver or failure to insist
upon strict compliance with such obligation, covenant, agreement or condition shall not operate as a waiver of, or estoppel with respect to, any subsequent or other failure. 
 Section 12.03 Notices. All notices and other communications hereunder shall be in writing and shall be deemed given if delivered personally or by facsimile transmission, or mailed by a
nationally recognized overnight courier, postage prepaid, to the Parties at the following addresses (or at such other address for a Party as shall be specified by like notice; provided, that notices of a change of address shall be effective
only upon receipt thereof): 
 If to the Buyer: 

The Williams Companies, Inc. 
 One Williams Center 
 Tulsa, OK 74171-0172 

Attention: Senior Vice President and Chief Financial Officer 

Facsimile: (918) 573-4900 
 with a copy to: 
 The Williams Companies, Inc. 

One Williams Center 
 Tulsa, OK 74171-0172 
 Attention: General Counsel 

Facsimile: (918) 573-5942 

  
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 and 

Gibson, Dunn & Crutcher LLP 

1801 California Street 
 Suite 4200 
 Denver, CO 80202 

Attention: Steven Talley 
 Facsimile: (303) 298-5907 
 If to any Seller: 

Global Infrastructure Management, LLC 

12 East 49th Street 
 New York, NY 10017 
 Attention: William Brilliant 

Facsimile: (646) 282-1580 
 and 
 Global Infrastructure Management LLP 

The Peak 
 5 Wilton Road 
 London 

United Kingdom 
 Attention: Joseph Blum 
 Facsimile: +44 207 798 0530 

with a copy to: 
 Latham & Watkins LLP 
 885 3rd Avenue 

New York, NY 10022 
 Attention: Edward Sonnenschein 

                 Eli Hunt 

Facsimile: (212) 751-4864 

  
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 Section 12.04 Assignment. This Agreement shall be binding upon and inure to the
benefit of the Parties and their successors and permitted assigns. The Sellers may not assign this Agreement or any rights or obligations hereunder without the prior written consent of the Buyer. The Buyer may not assign this Agreement or any rights
or obligations hereunder without the prior written consent of the Sellers except that (a) each Party may freely assign this Agreement or any of its rights or obligations hereunder, in whole or from time to time in part, without such consent, to
any Affiliate of such Party that remains an Affiliate at all times following such assignment or in the case of the Sellers, any control person, partner, equity holder, member, stockholder or co-investor of any Seller or its Affiliates and
(b) the Buyer may freely assign this Agreement or any of its rights or obligations hereunder, in whole or from time to time in part to any Person that acquires the Subject Interests (other than pursuant to a registration statement under the
Securities Act or a sale to the general public in reliance on an exception therefrom); provided, that no such assignment will in any way affect the assigning Party’s obligations or liabilities under this Agreement. 

Section 12.05 Expenses. Except as otherwise set forth in this Agreement, each Party shall pay its own costs and expenses
(including legal, accounting, financial advisory and consulting fees and expenses) incurred by such Party in connection with the negotiation and consummation of the transactions contemplated by this Agreement and the other Transaction Documents.

 Section 12.06 Specific Performance. The Parties acknowledge and agree that a breach of this Agreement would cause
irreparable damage to the Buyer and the Sellers and the Buyer and the Sellers will not have an adequate remedy at Law. Therefore, the obligations of the Buyer and the Sellers under this Agreement, including the Sellers’ obligation to sell the
Subject Interests to the Buyer and the Buyer’s obligation to purchase the Subject Interests from the Sellers, shall be enforceable by a decree of specific performance issued by any court of competent jurisdiction, and appropriate injunctive
relief may be applied for and granted in connection therewith. Such remedies shall, however, be cumulative and not exclusive and shall be in addition to any other remedies which any Party may have under this Agreement or otherwise. 

Section 12.07 Entire Agreement. This Agreement (including the Schedules and Exhibits hereto), together with each of the other
Transaction Documents, constitute the entire understanding and agreement between the Parties with respect to the subject matter hereof and supersede any and all prior or contemporaneous discussions, agreements and understandings, whether written or
oral, including for the avoidance of doubt (i) that certain non-binding letter of intent dated November 16, 2012 and the Letter Agreement (and any iterations thereof) and (ii) that certain letter agreement dated July 27, 2012
that may have been made or entered into by or among any of the Parties or any of their respective Affiliates relating to the transactions contemplated hereby. 

  
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 Section 12.08 Severability. Whenever possible, each provision of this Agreement
shall be interpreted in such manner as to be effective and valid under applicable Law, but if any provision or portion of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable Law in any jurisdiction by
any applicable Governmental Authority, (a) such invalidity, illegality or unenforceability shall not affect the validity, legality or enforceability of any other provision of this Agreement in such jurisdiction or affect the validity, legality
or enforceability of any provision in any other jurisdiction, (b) such provision shall be invalid, illegal or unenforceable only to the extent strictly required by such Governmental Authority, (c) to the extent any such provision is deemed
to be invalid, illegal or unenforceable, each of the Sellers and the Buyer agrees that it shall use its best efforts to cause such Governmental Authority to modify such provision so that such provision shall be valid, legal and enforceable as
originally intended to the greatest extent possible and (d) to the extent that the Governmental Authority does not modify such provision, each of the Sellers and the Buyer agrees that they shall endeavor in good faith to exercise or modify such
provision so that such provision shall be valid, legal and enforceable as originally intended to the greatest extent possible. 

Section 12.09 Disclosure Schedules. The inclusion of any information (including dollar amounts) in any section of any
schedule required by this Agreement (the “Disclosure Schedules”) shall not be deemed to be an admission or acknowledgment by the disclosing party or any other Party that such information is required to be listed on such
section of the relevant Disclosure Schedule or is material to or outside the ordinary course of the business of the applicable Person to which such disclosure relates. Each disclosure item set forth in the Disclosure Schedules shall relate only to
the specific Section of the Agreement that corresponds to the number of such Schedule and to any other Section of this Agreement to which it is reasonably apparent on the face of such disclosure that such disclosure relates. The information
contained in this Agreement, the Exhibits hereto and the Disclosure Schedules is disclosed solely for purposes of this Agreement, and no information contained herein or therein shall be deemed to be an admission by any Party hereto to any Third
Party of any matter whatsoever (including any violation of a legal requirement or breach of contract). 

  
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 Section 12.10 Third Party Beneficiaries. This Agreement shall be binding upon
and, except as provided below, inure solely to the benefit of the Parties hereto and their respective successors and permitted assigns. None of the provisions of this Agreement shall be for the benefit of or enforceable by any Person other than the
Parties, including any creditor of any Party or any of their Affiliates, except that (i) this Agreement shall inure to the benefit of the Non-Recourse Parties as necessary to enforce their rights in accordance with Section 8.08(b)
and (ii) Section 11.02 and this Section 12.10 (solely as it relates to Section 11.02) shall inure to the benefit of the Debt Financing Sources. Except for the Non-Recourse Parties and the Debt Financing
Sources, in each case as provided in the immediately preceding sentence, no Person other than the Parties shall obtain any right under any provision of this Agreement or shall by reason of any such provision make any claim in respect of any
Liability (or otherwise) against any other Party hereto. 
 Section 12.11 Facsimiles; Electronic Transmission;
Counterparts. This Agreement may be executed by facsimile or other electronic transmission (including scanned documents delivered by email) by any Party and such execution shall be deemed binding for all purposes hereof, without delivery of an
original signature being thereafter required. This Agreement may be executed in one or more counterparts, each of which, when executed, shall be deemed to be an original and all of which together shall constitute one and the same document.

 Section 12.12 Time of Essence. Time is of the essence in the performance of this Agreement. 

Section 12.13 Sealed Instrument. The Parties acknowledge and agree that, solely with respect to the Fundamental
Representations, it is their intent that this Agreement be, and that it will be treated and construed as, a sealed instrument under Delaware law, including the statute of limitations applicable to sealed instruments. Notwithstanding the foregoing or
anything to the contrary contained herein or in any other Transaction Document, the Parties acknowledge and agree that it is not their intent that this Agreement alter, extend or otherwise modify, or be treated or construed as altering, extending or
otherwise modifying, any survival period under this Agreement or the other Transaction Documents or any statute of limitations under applicable Law (including Delaware law), except to the extent provided in the immediately preceding sentence with
respect to the Fundamental Representations. No Party shall, and each Party shall cause its Affiliates not to, take a position that is inconsistent with this Section 12.13, whether before any Governmental Authority or otherwise.

  
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 Section 12.14 CMO Purchase Agreement. The Buyer agrees that, the Sellers are not
(a) making any representations or warranties or agreeing to any covenants with respect to the CMO Purchase Agreement or the entities to be acquired thereunder or the ACMP Subscription Agreement, including the assets, Liabilities, Contracts or
other matters relating thereto or (b) required to update the Disclosure Schedules to include the assets or equity purchased as part of the CMO Purchase Agreement or the ACMP Subscription Agreement, including the assets, Liabilities, Contracts
or other matters relating thereto. 
 Section 12.15 Right to Rely. Following the Closing, any rights to
indemnification, payment, reimbursement or other remedy based on representations, warranties, covenants or agreements in this Agreement or in any certificate delivered pursuant hereto shall not be affected by any investigation conducted at any time,
or any knowledge acquired (or capable of being acquired) before the Closing. The waiver of any condition based on the accuracy of any representation or warranty, or in the performance of or compliance with, any such covenant or agreement, shall not
affect the right to indemnification, payment, reimbursement, or any other remedy based on such representations, warranties, covenants or agreements. 
 * * * * * 

  
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 IN WITNESS WHEREOF, the Parties execute and deliver this Agreement under seal, effective as
of the date first above written. 
  

			
	THE BUYER:
	
	THE WILLIAMS COMPANIES, INC., executed under seal
		
	By:	 	/s/ Donald R. Chappel
	Name:	 	Donald R. Chappel
	Title:	 	Senior Vice President, Chief Financial Officer

 SIGNATURE PAGE – FUND I PURCHASE AGREEMENT 

 
			
	THE SELLERS:
	
	GIP-A HOLDING (CHK), L.P., executed under seal
	
	By: GIP-A Holding (CHK) GP, L.L.C., its general partner
		
	By:	 	/s/ Jonathan Bram
	Name:	 	Jonathan Bram
	Title:	 	Secretary
	
	GIP-B HOLDING (CHK), L.P., executed under seal
	
	By: GIP-B Holding (CHK) GP, L.L.C., its general partner
		
	By:	 	/s/ Jonathan Bram
	Name:	 	Jonathan Bram
	Title:	 	Secretary
	
	GIP-C HOLDING (CHK), L.P., executed under seal
	
	By: GIP-C Holding (CHK) GP, L.L.C., its general partner
		
	By:	 	/s/ Jonathan Bram
	Name:	 	Jonathan Bram
	Title:	 	Secretary

 SIGNATURE PAGE – FUND I PURCHASE AGREEMENT 

 EXHIBIT A 
 Section 1.01 Definitions. As used in this Agreement, and unless the context otherwise requires, the following terms have the meanings specified or referred to in this Section 1.01:

 “ACMP Equity Issuance” shall have the meaning specified in the recitals. 

“ACMP Subscription Agreement” shall have the meaning specified in the recitals. 

“Acquired Companies” means AMV, the General Partner, the Partnership and each of the Subsidiaries of the
Partnership as of the Closing Date, excluding Chesapeake Midstream Operating, L.L.C. and its Subsidiaries (each, an “Acquired Company”). 
 “Affiliate” means, with respect to a specified Person, any other Person, whether now in existence or hereafter created, directly or indirectly controlling, controlled by or under
direct or indirect common control with such specified Person. For purposes of this definition and the definition of Subsidiary, “control” (including, with correlative meanings, “controlling”,
“controlled by” and “under common control with”) means, with respect to a Person, the power to direct or cause the direction of the management and policies of such Person, directly or indirectly,
whether through the ownership of equity interests, including but not limited to voting securities, by contract or agency or otherwise. For purposes of this Agreement and the other Transaction Documents, except where otherwise noted, the Acquired
Companies shall not be considered Affiliates of any Seller or, prior to the Closing, the Buyer and none of Global Infrastructure GP II, L.P., Global Infrastructure Investors II, LLC or any Person controlled by either of them shall be considered an
Affiliate of any Seller or any of its Affiliates. 
 “Agreement” shall have the meaning specified in the
preamble. 
 “AMV” shall have the meaning specified in the recitals. 

“AMV LLC Agreement” shall have the meaning specified in Section 7.04(h). 

“AMV Unit Distributions” shall have the meaning specified in Section 2.02. 

“AMV Units” means Units as defined in the AMV LLC Agreement. 

 “Assets” means assets, properties, privileges and interests of
whatever kind or nature, real, personal or mixed, tangible or intangible, and wherever located, that are owned, leased or licensed by the Acquired Companies. 
 “Audited Financial Statements” shall have the meaning specified in Section 4.05(a). 
 “Business Day” means any day other than a Saturday, a Sunday or a legal holiday for commercial banks in New York, New York. 

“Buyer” shall have the meaning specified in the preamble. 

“Buyer Confidential Information” means any and all data, information, ideas, concepts and knowledge, including
reports, documents, correspondence, maps, interpretations, records, logs and technical, business or land data or information, and whether geological, geophysical, economic, financial, land, business or management in nature, whether electronic,
written or oral; provided, however, that, notwithstanding the foregoing, the following will not constitute Buyer Confidential Information: (i) information which is or becomes generally available to the public other than as a
result of an unauthorized disclosure by a Seller or any of its Affiliates or Representatives; (ii) information which was already known to a Seller prior to such information being furnished to such Seller, other than any information relating to
an Acquired Company, which information was acquired by a Seller prior to the Closing Date; and (iii) information which becomes available to a Seller from a source that, to the Knowledge of such Seller, was not subject to any prohibition against
transmitting the information to a Seller and was not bound by a confidentiality agreement to the Buyer or Acquired Company, including information which is acquired independently from a Third Party that has the right to disseminate such information
at the time it is acquired by a Seller; provided that this clause shall not apply (x) to information acquired from the Buyer or Acquired Company prior to the Closing Date; or (y) to information developed by a Seller independently of
Buyer Confidential Information provided to such Seller by or on behalf of the Buyer or an Acquired Company. 
 “Buyer
Indemnified Parties” shall have the meaning specified in Section 8.02(a). 
 “Buyer Material
Adverse Effect” means any event, change, fact, development, circumstance, condition or occurrence that, individually or in the aggregate with one or more other events, changes, facts, developments, circumstances, conditions or
occurrences, would or would be reasonably likely to materially impair the ability of the Buyer or its Affiliates to perform any of its obligations or to consummate any of the transactions under the Transaction Documents or otherwise materially
threaten or materially impede the Buyer’s or its Affiliates’ consummation or performance of the transactions or obligations under the Transaction Documents. 

  
 A-2

 “Claim” shall have the meaning specified in
Section 8.03(a). 
 “Claim Deductible” shall have the meaning specified in
Section 8.04(a). 
 “Claim Notice” shall have the meaning specified in
Section 8.03(a). 
 “Closing” shall have the meaning specified in Section 2.03.

 “Closing Date” shall have the meaning specified in Section 2.03. 

“CMO Disposition” shall have the meaning specified in the recitals. 

“CMO Purchase Agreement” shall have the meaning specified in the recitals. 

“CMO Purchase Partnership Agreement Amendment” means the Amendment No. 2 to the Partnership Agreement entered
into in connection with the ACMP Equity Issuance. 
 “Code” means the Internal Revenue Code of 1986, as
amended from time to time. 
 “Commission” means the United States Securities and Exchange Commission.

 “Common Units” means Common Units as defined in the Partnership Agreement. 

“Company Material Adverse Effect” means any event, change, fact, development, circumstance, condition, matter or
occurrence that, individually or in the aggregate with one or more other events, changes, facts, developments, circumstances, conditions, matters or occurrences, is or would be reasonably likely to be materially adverse to, or has had or would be
reasonably likely to have a material adverse effect on or change in, on or to the business, condition (financial or otherwise) or operations of the Acquired Companies, taken as a whole (including, their respective assets, properties or businesses,
taken as a whole); provided, however, that, none of the following events, changes, facts, developments, circumstances, conditions, matters or occurrences (either alone or in combination) shall be taken into account for purposes of
determining whether or not a Company Material Adverse Effect has occurred: (i) the announcement (in accordance with the terms of this Agreement) of this Agreement and the transactions contemplated hereby, including any disruption of customer or
supplier relationships 

  
 A-3

 
or loss of any employees or independent contractors of any Acquired Company; (ii) the natural gas transportation industry generally; (iii) changes in GAAP or interpretations thereof;
(iv) the economy or securities markets of the United States generally; or (v) the announcement, performance or consummation of the CMO Disposition or the ACMP Equity Issuance or any of the transactions contemplated by the CMO Purchase
Agreement or ACMP Subscription Agreement; except, in the case of clauses (ii) through (iv), to the extent disproportionately affecting the Acquired Companies as compared with other Persons in the natural gas transportation industry and then
only such disproportionate impact shall be considered. 
 “Competing Transaction” shall have the meaning
specified in Section 6.07. 
 “Confidential Information” means the Buyer Confidential
Information and the Seller Confidential Information. 
 “Contract” means any contract, agreement,
indenture, note, bond, mortgage, loan, instrument, evidence of indebtedness, security agreement, lease, easement, right of way agreement, sublease, license, commitment, subcontract, or other arrangement, understanding, undertaking, commitment, or
obligation, whether written or oral. 
 “Courts” shall have the meaning specified in
Section 11.01. 
 “Current AMV Agreement” shall have the meaning set forth in
Section 4.03(g). 
 “Current GP Agreement” shall have the meaning set forth in
Section 4.04(b). 
 “Current Partnership Agreement” shall have the meaning set forth in the
definition of “Partnership Agreement”. 
 “Debt Financing” means any debt financing (including,
without limitation, lines of credit, bridge facilities, term loan facilities, revolving credit facilities or short-term liquidity facilities) entered into by Buyer in connection with the Closing and the transactions contemplated by this Agreement.

 “Debt Financing Sources” means, collectively, the agents, lead arrangers, bookrunners, lenders and
other entities that have committed to provide and/or arrange or otherwise entered into agreements in connection with any Debt Financing. 
 “De Minimis Claim” shall have the meaning specified in Section 8.04(a). 

  
 A-4

 “Disclosure Schedules” shall have the meaning specified in
Section 12.09. 
 “DLLCA” means the Delaware Limited Liability Company Act. 

“DRULPA” means the Delaware Revised Uniform Limited Partnership Act. 

“Encumbrances” any mortgage, deed of trust, encumbrance, charge, claim, equitable or other interest, easement,
right of way, building or use restriction, lien, option, pledge, security interest, purchase rights, preemptive right, right of first refusal or similar right or adverse claim or restriction of any kind. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, and the rules and
regulations of the Commission promulgated thereunder. 
 “Financial Statements” shall have the meaning
specified in Section 4.05(a). 
 “Fundamental Representations” shall have the meaning
specified in Section 8.01. 
 “GAAP” means generally accepted accounting principles in the
United States of America in effect from time to time. 
 “General Partner” means the General Partner of
the Partnership as defined in the Partnership Agreement. 
 “General Partner LLC Agreement” shall have
the meaning specified in Section 7.04(i). 
 “GIP II Hawk Holdings” shall have the meaning
specified in the recitals. 
 “GIP-A” shall have the meaning specified in the preamble. 

“GIP-B” shall have the meaning specified in the preamble. 

“GIP-C” shall have the meaning specified in the preamble. 

“GIP Eagle” shall have the meaning specified in Section 4.03(d). 

“Governmental Authority” means any (a) federal, state, local, or municipal government, or any subsidiary body
thereof or (b) governmental or quasi-governmental authority of any nature, including, (i) any governmental agency, branch, department, official, or entity, (ii) any court, judicial authority, or other tribunal, and (iii) any
arbitration body or tribunal. 

  
 A-5

 “GP Interest” shall have the meaning specified in
Section 4.03(b). 
 “Incentive Distribution Rights” has the meaning specified in the
Partnership Agreement. 
 “Indemnified Party” means any of the Buyer Indemnified Parties or the Seller
Indemnified Parties, as applicable. 
 “Indemnifying Party” shall have the meaning specified in
Section 8.03(a). 
 “Knowledge” means the actual knowledge after due and reasonable inquiry
of, in the case of the Sellers, the individuals listed in Schedule 2.01 and, in the case of the Buyer, the individuals listed in Schedule 2.02. 
 “Law” means any applicable domestic or foreign federal, state, local, municipal, or other administrative order, constitution, law, Order, policy, ordinance, rule, code, principle
of common law, case, decision, regulation, statute, tariff or treaty, or other requirements with similar effect of any Governmental Authority or any binding provisions or interpretations of the foregoing. 

“Letter Agreement” means the letter agreement, dated July 27, 2012, by and among The Williams Companies, Inc.
and Global Infrastructure Management, LLC. 
 “Liability” means, collectively, any indebtedness,
commitment, guaranty, endorsement, claim, loss, damage, deficiency, cost, expense, obligation, contingency, responsibility or other liability, in each case, whether fixed or unfixed, asserted or unasserted, due or to become due, accrued or
unaccrued, absolute, contingent or otherwise. 
 “Loss” shall have the meaning specified in
Section 8.02(a). 
 “Non-Recourse Persons” shall have the meaning specified in
Section 8.08(b). 
 “Notional General Partner Units” has the meaning specified in the
Partnership Agreement. 
 “OLLC” means Access MLP Operating, L.L.C., a Delaware limited liability
company. 
 “Order” means any award, decision, injunction, judgment, order, ruling, subpoena, writ,
decree or verdict entered, issued, made or rendered by any Governmental Authority. 

  
 A-6

 “Organizational Document” means (i) with respect to a
corporation, the articles or certificate of incorporation and bylaws thereof together with any other governing agreements or instruments of such corporation or the shareholders thereof, each as amended, (ii) with respect to a limited liability
company, the certificate of formation and the operating or limited liability company agreement or regulations thereof, or any comparable governing instruments, each as amended, (iii) with respect to a partnership, the certificate of formation
and the partnership agreement of the partnership and, if applicable, the Organizational Documents of such partnership’s general partner, or any comparable governing instruments, each as amended and (iv) with respect to any other Person,
the organizational, constituent or governing documents or instruments of such Person. 
 “Partnership”
shall have the meaning specified in the recitals. 
 “Partnership Agreement” means that certain First
Amended and Restated Agreement of Limited Partnership of Access Midstream Partners, L.P. dated as of August 3, 2010, as amended by the Amendment No. 1 to the First Amended and Restated Agreement of Limited Partnership of Access Midstream
Partners, L.P. dated as of July 24, 2012 (the “Current Partnership Agreement”), as further amended by the CMO Purchase Partnership Agreement Amendment, dated as of the Closing Date. 

“Partnership SEC Documents” means all registration statements, annual and quarterly reports, current reports,
definitive proxy statements, and other forms, reports, schedules, statements and other documents, as amended, filed or furnished by the Partnership with the Commission. 
 “Party” means, as applicable, the Buyer and the Sellers. 

“Person” means any individual, partnership, limited partnership, limited liability company, corporation, joint
venture, trust, cooperative, association, foreign trust, unincorporated organization, foreign business organization or Governmental Authority or any department or agency thereof, and the heirs, executors, administrators, legal representatives,
successors, and assigns of such “Person” where the context so permits. 
 “Proceedings” means
any claim, action, arbitration, mediation, audit, hearing, investigation, proceeding, litigation, or suit (whether civil, criminal, administrative, investigative, or informal) commenced, brought, conducted, or heard by or before, or otherwise
involving, any Governmental Authority, arbitrator, or mediator. 

  
 A-7

 “Public Equity Offering” means the issuance and sale of Common Units
or such other equity interests in an underwritten public offering, effected by the Partnership after the date hereof and prior to or on the Closing Date in connection with the funding of the CMO Disposition. 

“Purchase Price” shall have the meaning specified in Section 2.01(a). 

“Registration Rights Agreement” means the Registration Rights Agreement, dated August 3, 2010, by and among
the Partnership, the Sellers and GIP Eagle, as amended. 
 “Remedies Exception” means the extent to which
enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar Laws affecting the enforcement of creditors’ rights generally and by general equitable principles. 

“Representatives” means all directors, officers, managers, trustees, employees, consultants, advisors (including
attorneys), or other representatives of a Person. 
 “Securities Act” means the Securities Act of 1933,
as amended from time to time, and the rules and regulations of the Commission promulgated thereunder. 

“Seller” and “Sellers” shall have the meaning specified in the preamble. 

“Seller AMV Units” shall have the meaning specified in the recitals. 

“Seller Confidential Information” means any and all data, information, ideas, concepts and knowledge, including
reports, documents, correspondence, maps, interpretations, records, logs and technical, business or land data or information, and whether geological, geophysical, economic, financial, land, business or management in nature, whether electronic,
written or oral; provided, however, that, notwithstanding the foregoing, the following will not constitute Seller Confidential Information: (i) information which is or becomes generally available to the public other than as a
result of an unauthorized disclosure by the Buyer or any of its Affiliates or Representatives; (ii) information which was already known to the Buyer prior to such information being furnished to the Buyer; and (iii) information which
becomes available to the Buyer from a source other than a Seller if, to the knowledge of the Buyer, such source was not subject to any prohibition against transmitting the information to the Buyer and was not bound by a confidentiality agreement to
a Seller, including information which is acquired independently from a Third Party that has the right to disseminate such information at the time it is acquired by the Buyer; or (iv) is developed by the Buyer independently of Seller
Confidential Information provided to the Buyer by or on behalf of the Seller. 

  
 A-8

 “Seller Guarantee” means the guarantee of the obligations of the
Sellers under this Agreement, dated as of the Closing Date, substantially in the form agreed to by the Parties. 

“Seller Indemnified Parties” shall have the meaning specified in Section 8.02(b). 

“Seller Material Adverse Effect” means any event, change, fact, development, circumstance, condition or occurrence
that, individually or in the aggregate with one or more other events, changes, facts, developments, circumstances, conditions or occurrences, would or would be reasonably likely to materially impair the ability of any Seller or its Affiliates to
perform any of its obligations or to consummate any of the transactions under the Transaction Documents or otherwise materially threaten or materially impede the Sellers’ or their Affiliates’ consummation or performance of the transactions
or obligations under the Transaction Documents. 
 “Seller Subordinated Units” shall have the meaning
specified in the recitals. 
 “Subject Interests” shall have the meaning specified in the recitals.

 “Subordinated Unit Distributions” shall have the meaning specified in Section 2.02.

 “Subordinated Units” means Subordinated Units as defined in the Partnership Agreement. 

“Subsidiary” means, with respect to any Person, any corporation, limited liability company, partnership,
association, or business entity, whether incorporated or unincorporated, of which (a) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote in the
election of directors, managers, or trustees thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof, (b) a general partner interest is
at the time owned or controlled, directly or indirectly, by any Person or one or more Subsidiaries of that Person or a combination thereof or (c) if a limited liability company, partnership, association, or other business entity (other than a
corporation), a majority of partnership or other similar ownership interest thereof is at the time owned or controlled, directly or indirectly, by any Person or one or more Subsidiaries of that Person or a combination

  
 A-9

 
thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority ownership interest in a limited liability company, partnership, association, or other business entity (other
than a corporation) if such Person or Persons shall be allocated a majority of limited liability company, partnership, association, or other business entity gains or losses. 
 “Survival Period” shall have the meaning specified in Section 8.01. 
 “Tax” means (a) all taxes, charges, fees, levies, or other assessments, including all net income, gross income, gross receipts, sales, use, ad valorem, transfer, franchise,
profits, license, withholding, payroll, employment, social security, unemployment, excise, estimated, severance, stamp, occupation, property, or other taxes, customs duties, fees, assessments, or charges of any kind whatsoever, or other tax of any
kind whatsoever, including all interest and penalties thereon, and additions to tax or additional amounts, imposed by any Tax Authority and (b) any Liability for the payment of any amounts of any of the foregoing as a result of being a member
of an affiliated, consolidated, combined, or unitary group or being a party to any agreement or arrangement whereby Liability for payment of such amounts was determined or taken into account with reference to the Liability of any other Person.

 “Tax Authority” means a Governmental Authority or political subdivision thereof responsible for the
imposition, administration, assessment, or collection of any Tax (domestic or foreign) and the agency (if any) charged with the collection or administration of such Tax for such entity or subdivision. 

“Tax Returns” means any return, declaration, report, claim for refund, estimate, information, rendition, statement
or other document pertaining to any Taxes required to be filed with a Governmental Authority, and including any attachments or supplements or amendments thereto. 
 “Third Party” means any Person other than (i) a Party, (ii) an Affiliate of a Party or (iii) an Acquired Company. 

“Third Party Claim” shall have the meaning specified in Section 8.03(b). 

“Transaction Documents” means, collectively, this Agreement, the AMV LLC Agreement and the General Partner LLC
Agreement, the Seller Guarantee and any and all other agreements or instruments provided for in this Agreement to be executed and delivered by the Parties in connection with the transactions contemplated hereby; provided, however, for
the 

  
 A-10

 
avoidance of doubt, the Transaction Documents shall not include the CMO Purchase Agreement, the ACMP Subscription Agreement or the agreements or instruments provided for therein to be executed
and delivered by the parties thereto in connection with the transactions contemplated thereby (other than this Agreement and the other Transaction Documents defined herein giving effect to this proviso). 

“Transfer Taxes” shall have the meaning specified in Section 9.01. 

“Tribunal” shall have the meaning specified in Section 6.06(c). 

“Unaudited Financial Statements” shall have the meaning specified in Section 4.05(a). 

Section 1.02 Rules of Interpretation. Unless expressly provided for elsewhere in this Agreement, this Agreement shall be
interpreted in accordance with the following provisions: 
 (a) the words “this Agreement,” “herein,”
“hereby,” “hereunder,” “hereof,” and other equivalent words shall refer to this Agreement as an entirety and not solely to the particular portion, article, section, subsection or other subdivision of this Agreement in
which any such word is used; 
 (b) examples are not to be construed to limit, expressly or by implication, the matter they
illustrate; 
 (c) the word “including” and its derivatives mean “including without limitation” and is a term
of illustration and not of limitation; 
 (d) all definitions set forth herein shall be deemed applicable whether the words
defined are used herein in the singular or in the plural and correlative forms of defined terms shall have corresponding meanings; 
 (e) the word “or” is not exclusive, and has the inclusive meaning represented by the phrase “and/or”; 
 (f) a defined term has its defined meaning throughout this Agreement and each exhibit and schedule to this Agreement, regardless of whether it appears before or after the place where it is defined;

  
 A-11

 (g) all references to prices, values or monetary amounts refer to United States dollars;

 (h) wherever used herein, any pronoun or pronouns shall be deemed to include both the singular and plural and to cover all
genders; 
 (i) the Transaction Documents have been jointly prepared by the parties thereto, and no Transaction Document shall be
construed against any Person as the principal draftsperson hereof or thereof, and no consideration may be given to any fact or presumption that any Party had a greater or lesser hand in drafting this Agreement; 

(j) the captions of the articles, sections or subsections appearing in this Agreement are inserted only as a matter of convenience and in
no way define, limit, construe or describe the scope or extent of such section, or in any way affect this Agreement; 
 (k) any
references herein to a particular Section, Article, Exhibit or Schedule means a Section or Article of, or an Exhibit or Schedule to, this Agreement unless otherwise expressly stated herein; 

(l) the Exhibits and Schedules attached hereto are incorporated herein by reference and shall be considered part of this Agreement;

 (m) unless otherwise specified herein, all accounting terms used herein shall be interpreted, and all determinations with
respect to accounting matters hereunder shall be made, in accordance with GAAP, applied on a consistent basis; 
 (n) all
references to days shall mean calendar days unless otherwise provided; 
 (o) all references to time shall mean New York City
time; 
 (p) references to any Person shall include such Person’s successors and permitted assigns; 

(q) any references to a Person that will be party to a Transaction Document includes any Person that is contemplated hereunder to be party
to a Transaction Document; and 
 (r) all references in Article III, Article IV and Article V to any Law or Contract shall mean
such Law or Contract, as in effect on the such representation was made. 

  
 A-12

 SCHEDULE 1.01 – Seller Subject Interests / Purchase Price Allocation 

 

																													
	 	  	 	 	  	Subject Interests	 	 	AMV Units
Purchase Price	 	  	 	 
	  	Subordinated
Units	 	  	Subordinated
Units
(%
Ownership)
	 	 	Subordinated
Units
Purchase
Price	 	  	AMV Units	 	  	AMV
Units
(%
Ownership)	 	 	  	Total Purchase
Price	 
	 GIP-A
	  	 	12,455,939	  	  	 	36.064	% 	 	$	424,975,443.63	  	  	 	180.321912	  	  	 	36.064	% 	 	$	232,536,673.01	  	  	$	657,512,116.64	  
	 GIP-B
	  	 	4,400,496	  	  	 	12.741	% 	 	$	150,137,469.90	  	  	 	63.705035	  	  	 	12.741	% 	 	$	82,151,729.63	  	  	$	232,289,199.53	  
	 GIP-C
	  	 	17,681,626	  	  	 	51.195	% 	 	$	603,267,013.09	  	  	 	255.973053	  	  	 	51.195	% 	 	$	330,093,670.74	  	  	$	933,360,683.83	  
		  				  				 				  				  				 	  
	  
	 	  	  
	  
	 
	 Total:
	  	 	34,538,061	  	  	 	100	% 	 	$	1,178,379,926.62	  	  	 	500	  	  	 	100	% 	 	$	644,782,073.38	  	  	$	1,823,162,000	  

 SCHEDULE 2.01 – Knowledge of Sellers 

William Brilliant 
 Matthew Harris 

 SCHEDULE 2.02 – Knowledge of Buyer 

Donald R. Chappel

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