Document:

<PAGE>
                                                                    EXHIBIT 10.4
                                                                  EXECUTION COPY

                      FIRST AMENDMENT TO SECURITY AGREEMENT

         This First Amendment dated as of October 31, 2002 (this "Amendment") to
the Security Agreement dated as of July 31, 2002 (as amended and modified from
time to time, the "Security Agreement"), is among The Williams Companies, Inc.
(the "Company"), and each of its Subsidiaries which is or which subsequently
becomes a party to the Security Agreement (together, with the Company, the
"Grantors"), in favor of Citibank, N.A., as collateral trustee ("Collateral
Trustee") for the benefit of the holders of the Secured Obligations. All
capitalized terms used herein and not otherwise defined shall have the meanings
ascribed to such terms in the Security Agreement.

                                   WITNESSETH:

         WHEREAS, the parties hereto have agreed to amend certain provisions of
the Security Agreement;

         NOW, THEREFORE, in consideration of the mutual covenants contained
herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree that the
Security Agreement is hereby amended as follows:

1.       Amendments

         (a) Pursuant to the terms of those two certain Consent and Waivers each
         dated as of September 20, 2002, by and among the Company and the other
         signatories thereto, the Security Agreement was amended to (i) remove
         Williams Field Services - Gulf Coast Company, L.P. as a Grantor and
         (ii) add Williams Gulf Coast Gathering Company, LLC as a Grantor.
         Pursuant to this Amendment, the following additional parties are added
         as Grantors: WFS - Pipeline Company; WFS Gathering Company, L.L.C.;
         Williams Field Services-Matagorda Offshore Company, LLC; Williams Gas
         Processing - Mid Continent Region Company; WFS-OCS Gathering Co.;
         HI-BOL Pipeline Company; Goebel Gathering Company, L.L.C.; Williams
         Petroleum Services, LLC; Longhorn Enterprises of Texas, Inc.; and
         Williams GP LLC. Notwithstanding the foregoing, Williams GP LLC will
         not be deemed to be a Grantor under the Security Agreement until the
         occurrence of (i) the formation of NewGP (as defined in the New Credit
         Agreement) and (ii) the transfer by Williams GP LLC to NewGP of the
         general partnership interests and incentive distribution rights held by
         Williams GP LLC in Williams Energy Partners L.P. Company hereby
         covenants to cause the formation of NewGP and, contemporaneously
         therewith, transfer to NewGP the general partnership interests and
         incentive distribution rights held by Williams GP LLC in Williams
         Energy Partners L.P. promptly following its execution of this
         Amendment.

<PAGE>

         (b) The definition of "General Intangible" or "General Intangibles" set
         forth in Section 1.1 of the Security Agreement is amended by adding the
         phrase "provided, however that "General Intangibles" shall not include
         any general or limited partnership interests, limited liability company
         interests, trust interests, joint ventures interests or any other
         similar equity ownership rights arising under the law of any
         jurisdiction." to the end of such definition.

         (c) The definition of "Investment Property" set forth in Section 1.1 of
         the Security Agreement is amended by adding the phrase "provided,
         however that "Investment Property" shall not include any general or
         limited partnership interests, limited liability company interests,
         trust interests, joint ventures interests or any other similar equity
         ownership rights arising under the law of any jurisdiction unless such
         equity ownership interests or rights constitute Proceeds." to the end
         of such definition.

         (d) The following sentence shall be added to the end of Section 2.1 of
         the Security Agreement: "Notwithstanding the general grant of a
         security interest set forth above in this Section 2.1, (i) the security
         interest in the oil of Williams Alaska Petroleum, Inc. ("WAPI") that is
         transported through the Trans-Alaska Pipeline System shall attach only
         at the time such oil is delivered to WAPI through the Trans-Alaska
         Pipeline System at the outlet flange measuring device located at North
         Pole, Alaska and (ii) Excluded Collateral (as defined in the New Credit
         Agreement and the Multiyear Williams Credit Agreement) shall not
         constitute Collateral under this Security Agreement."

         (e) Section 3.6 of the Security Agreement is hereby amended and
         restated in its entirety and replaced with the following:

                           Section 3.6 Control of Investment Property. Each
                  Grantor shall take any and all actions reasonably requested by
                  Collateral Trustee to ensure that Collateral Trustee has a
                  first priority security interest in (subject only to Permitted
                  Liens other than the Permitted Liens described in Schedule III
                  Paragraphs y, gg, and jj from the New Credit Agreement and
                  Schedule VI Paragraphs y, gg, and jj from the Multiyear
                  Williams Credit Agreement) and "control" (within the meaning
                  of Section 8-106 of the UCC) of Collateral constituting
                  Investment Property and deposit accounts (as defined in the
                  UCC).

         (f) The following Section 3.11 is hereby added to the Security
         Agreement:

                           3.11 Permitted Dispositions. Notwithstanding anything
                  to the contrary in Section 3 of this Security Agreement, the
                  Grantors shall not be restricted from completing or permitting
                  any dispositions that can be completed without violating any
                  of the following provisions: Sections 5.2(e) and 5.2(f) of the
                  New Credit Agreement, and Sections 5.02(f) and 5.02(l) of the
                  Multiyear Williams Credit Agreement.

<PAGE>

         (g) Section 7.2 of the Security Agreement is hereby amended and
         restated in its entirety and replaced with the following:

                           Section 7.2 Action by Nominees. Notwithstanding
                  anything to the contrary in this Security Agreement, any and
                  all of the rights, powers and remedies of Collateral Trustee
                  under this Security Agreement may be exercised by any
                  nominee(s) of the Collateral Trustee or any other agent,
                  person, trustee or nominee acting on behalf of the Collateral
                  Trustee, and Collateral Trustee may assign or delegate all or
                  any part of its rights and obligations under this Security
                  Agreement to any one or more agent(s), person(s), trustee(s)
                  or other nominee(s).

         (h) Section 8.16 of the Security Agreement is hereby amended and
         restated in its entirety and replaced with the following:

                           Section 8.16 Incorporated Definitions and Provisions.
                  All defined terms and other provisions (including, without
                  limitation, the amendment provisions), that are incorporated
                  into this Security Agreement by reference to other agreements
                  shall incorporate into this Security Agreement the provisions
                  of such other agreements that exist as of the date hereof;
                  however, such provisions shall be automatically modified
                  herein by any amendment or modification that takes place after
                  the date hereof in such other referenced agreement(s); subject
                  to the following limitations: (a) no such amendment or
                  modification shall be effective with respect to this Security
                  Agreement until Collateral Trustee shall have received a copy
                  of such amendment or modification and (b) no provision of any
                  such amendment or modification that imposes any additional
                  liability, obligation or adverse effect on the Collateral
                  Trustee shall be effective with respect to this Security
                  Agreement unless the Collateral Trustee has executed a written
                  consent to such provision or to the amendment or modification
                  in which such provision is set forth.

         (i) The following Section 8.18 is hereby added to the Security
         Agreement:

                           Section 8.18 Joinder. Pursuant to the terms of the
                  Credit Documents certain Subsidiaries (hereafter referred to
                  as the "Joining Subsidiaries") may desire to or be required to
                  join this Security Agreement as Grantors. In connection with
                  any such joinder the Joining Subsidiary shall cause to be
                  executed and delivered (a) a joinder agreement substantially
                  in the form of the joinder agreement attached hereto as
                  Schedule IV and (b) authorization documentation, corporate
                  documentation, perfection documentation and opinion letters
                  reasonably satisfactory to the Collateral Trustee reflecting
                  the status of such Joining Subsidiary and the enforceability
                  of such agreements with respect to such Joining Subsidiary;
                  provided, however, that the Collateral Trustee shall have no
                  obligations with respect to the additional Collateral that
                  results from the addition of a Joining Subsidiary as a Grantor
                  pursuant to this Security Agreement

<PAGE>

                  prior to the delivery of such additional Collateral, and
                  Collateral Trustee shall have no duty to solicit the delivery
                  of any Collateral from any Grantor.

         (j) Schedule I to the Security Agreement is hereby amended and restated
         in its entirety and replaced with Schedule I attached hereto.

         (k) Schedule II to the Security Agreement is hereby amended and
         restated in its entirety and replaced with Schedule II attached hereto.

         (l) A new Schedule IV to the Security Agreement is hereby added which
         is the document attached as Schedule IV hereto.

2. Conditions to Effectiveness. This Amendment shall be deemed effective (the
"Effective Date") upon the satisfaction of the conditions precedent as set out
in Section 3.1 of that certain Amended and Restated Credit Agreement dated as of
October 31, 2002, among Company and the Financial Institutions named therein,
without giving effect to the terms of Section 3.3; provided, however, that the
Collateral Trustee shall have no obligations with respect to the additional
Collateral that results from the addition of Grantors as parties to the Security
Agreement pursuant to this Amendment prior to the delivery of such additional
Collateral, and the Collateral Trustee shall have no duty to solicit the
delivery of any Collateral from any Grantor. Notwithstanding anything to the
contrary herein, any provision or portion of a provision in this Amendment that
is or is determined to be a release of Collateral shall not be effective to
release such Collateral until the Collateral Trustee has received satisfactory
documentation that such release of Collateral is permitted by or has been
properly approved in accordance with the terms of the Collateral Trust
Agreement.

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

4. Reference to and Effect on the Security Agreement. The amendments set forth
herein are limited precisely as written and shall not be deemed to be a consent
or waiver to, or modification of any other term or condition in the Security
Agreement or any of the documents referred to therein. Except as expressly
amended and consented hereby, the terms and conditions of the Security Agreement
shall continue in full force and effect, and as amended hereby, the Security
Agreement is ratified and confirmed in all respects. On and after the Effective
Date, the Security Agreement shall be deemed to mean the Security Agreement as
amended hereby.

5. Counterparts. This Amendment may be executed in several counterparts, each of
which shall be deemed an original, but all of which together shall constitute
one and the same agreement.

Schedule I:       Schedule I to Security Agreement
Schedule II:      Schedule II to Security Agreement
Schedule IV:      Form of Joinder Agreement

<PAGE>

         IN WITNESS WHEREOF, the parties hereto, acting through their duly
authorized representatives, have caused this Amendment to be signed in their
respective names.

                                      THE WILLIAMS COMPANIES, INC.,
                                      as Grantor

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

                                      WORTHINGTON GENERATION, L.L.C.,
                                      as Grantor

                                      By:     /s/ William E. Hobbs
                                            ----------------------------------
                                      Name:   William E. Hobbs
                                      Title:  President

                                      WILLIAMS ALASKA PETROLEUM, INC.,
                                      as Grantor

                                      By:     /s/ Ralph A. Hill
                                            ----------------------------------
                                      Name:   Ralph A. Hill
                                      Title:  Chief Executive Officer

                                      WILLIAMS ALASKA PIPELINE COMPANY, L.L.C.,
                                      as Grantor

                                      By:     /s/ Ralph A. Hill
                                            ----------------------------------
                                      Name:   Ralph A. Hill
                                      Title:  Chief Executive Officer

                                      WILLIAMS REFINING & MARKETING, L.L.C.,
                                      as Grantor

                                      By:     /s/ James G. Ivey
                                            ----------------------------------
                                      Name:   James G. Ivey
                                      Title:  Assistant Treasurer
<PAGE>

                                    WILLIAMS PETROLEUM SERVICES, LLC,
                                    as Grantor

                                    By:  WILLIAMS ENERGY SERVICES, LLC, its sole
                                         member

                                    By:     /s/ Phillip D. Wright
                                           -------------------------
                                    Name:  Phillip D. Wright
                                    Title: President

                                    WILLIAMS PETROLEUM PIPELINE SYSTEMS,
                                    INC., as Grantor

                                    By:      /s/ Ralph A. Hill
                                            ---------------------
                                    Name:   Ralph A. Hill
                                    Title:  Senior Vice President

                                    WILLIAMS MID-SOUTH PIPELINES, LLC,
                                    as Grantor

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

                                    WILLIAMS GENERATION COMPANY-
                                    HAZLETON, as Grantor

                                    By:      /s/ Ralph A. Hill
                                            ------------------
                                    Name:   Ralph A. Hill
                                    Title:  Vice President

                                    WILLIAMS OLEFINS, L.L.C., as Grantor

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

<PAGE>

                                WILLIAMS OLEFINS FEEDSTOCK PIPELINES,
                                L.L.C., as Grantor

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

                                WILLIAMS NATURAL GAS LIQUIDS, INC.,
                                as Grantor

                                By:      /s/ Alan S. Armstrong
                                        ----------------------
                                Name:   Alan S. Armstrong
                                Title:  Senior Vice President

                                WILLIAMS MERCHANT SERVICES COMPANY, INC.,
                                as Grantor

                                By:      /s/ William E. Hobbs
                                        ---------------------
                                Name:   William E. Hobbs
                                Title:  President

                                WILLIAMS MIDSTREAM NATURAL GAS
                                LIQUIDS, INC., as Grantor

                                By:       /s/ Alan S. Armstrong
                                         ----------------------
                                Name:    Alan S. Armstrong
                                Title:   Senior Vice President

                                WILLIAMS MEMPHIS TERMINAL, INC.,
                                as Grantor

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

<PAGE>

                                WILLIAMS GULF COAST GATHERING
                                COMPANY, LLC, as Grantor

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

                                WILLIAMS GP, LLC, as Grantor

                                By:      /s/ Don R. Wellendorf
                                        -------------------------------------
                                Name:   Don R. Wellendorf
                                Title:  President and Chief Executive Officer

                                WILLIAMS GENERATING MEMPHIS, LLC, as Grantor

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

                                WILLIAMS GAS PROCESSING - WAMSUTTER
                                COMPANY, as Grantor

                                By:       /s/ Alan S. Armstrong
                                          ----------------------
                                Name:    Alan S. Armstrong
                                Title:   Senior Vice President

                                WILLIAMS GAS PROCESSING COMPANY,
                                as Grantor

                                By:       /s/ Alan S. Armstrong
                                          ----------------------
                                Name:    Alan S. Armstrong
                                Title:   Senior Vice President

<PAGE>

                                WILLIAMS GAS PROCESSING - MID-CONTINENT
                                REGION COMPANY, as Grantor

                                By:      /s/ Alan S. Armstrong
                                         ----------------------
                                Name:   Alan S. Armstrong
                                Title:  Senior Vice President

                                WILLIAMS FIELD SERVICES GROUP, INC.,
                                as Grantor

                                By:       /s/ Alan S. Armstrong
                                          ----------------------
                                Name:    Alan S. Armstrong
                                Title:   Senior Vice President

                                WILLIAMS FIELD SERVICES COMPANY,
                                as Grantor

                                By:       /s/ Alan S. Armstrong
                                         ----------------------
                                Name:    Alan S. Armstrong
                                Title:   Senior Vice President

                                WILLIAMS FIELD SERVICES - MATAGORDA
                                OFFSHORE COMPANY, LLC, as Grantor

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

                                WILLIAMS EXPRESS, INC. (A DELAWARE CORPORATION),
                                as Grantor

                                By:      /s/ Ralph A. Hill
                                        -----------------------
                                Name:   Ralph A. Hill
                                Title:  Chief Executive Officer

<PAGE>

                                WILLIAMS EXPRESS, INC. (AN ALASKA CORPORATION),
                                as Grantor

                                By:      /s/ Ralph A. Hill
                                        -----------------------
                                Name:   Ralph A. Hill
                                Title:  Chief Executive Officer

                                WILLIAMS ETHANOL SERVICES, INC.,
                                as Grantor

                                By:      /s/ Paul W. Nelson
                                        -------------------
                                Name:   Paul W. Nelson
                                Title:  Treasurer

                                WILLIAMS ENERGY SERVICES, LLC,
                                as Grantor

                                By:      /s/ Alan S. Armstrong
                                        ----------------------
                                Name:   Alan S. Armstrong
                                Title:  Senior Vice President

                                WILLIAMS BIO-ENERGY, L.L.C., as Grantor

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

                                WILLIAMS ALASKA AIR CARGO PROPERTIES, L.L.C.,
                                as Grantor

                                By:  WILLIAMS ALASKA PETROLEUM, INC.,
                                     its sole member

                                By:      /s/ Ralph A. Hill
                                        -----------------------
                                Name:   Ralph A. Hill
                                Title:  Chief Executive Officer

<PAGE>

                                WFS-OFFSHORE GATHERING COMPANY, as Grantor

                                By:       /s/ Alan S. Armstrong
                                         ----------------------
                                Name:    Alan S. Armstrong
                                Title:   Senior Vice President

                                WFS-NGL PIPELINE COMPANY, INC.,
                                as Grantor

                                By:      /s/ Alan S. Armstrong
                                        ----------------------
                                Name:   Alan S. Armstrong
                                Title:  Senior Vice President

                                WFS-LIQUIDS COMPANY, as Grantor

                                By:      /s/ Alan S. Armstrong
                                        ----------------------
                                Name:   Alan S. Armstrong
                                Title:  Senior Vice President

                                WFS GATHERING COMPANY, L.L.C.,
                                as Grantor

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

                                WFS ENTERPRISES, INC., as Grantor

                                By:      /s/ Mary Jane Bittick
                                        ----------------------
                                Name:   Mary Jane Bittick
                                Title:  Treasurer

<PAGE>

                                WFS - PIPELINE COMPANY, as Grantor

                                By:      /s/ Alan S. Armstrong
                                        ----------------------
                                Name:   Alan S. Armstrong
                                Title:  Senior Vice President

                                WFS - OCS GATHERING CO., as Grantor

                                By:      /s/ Alan S. Armstrong
                                        ----------------------
                                Name:   Alan S. Armstrong
                                Title:  Senior Vice President

                                NORTH PADRE ISLAND SPINDOWN, INC.,
                                AS GRANTOR

                                By:      /s/ Alan S. Armstrong
                                        ----------------------
                                Name:   Alan S. Armstrong
                                Title:  Senior Vice President

                                MEMPHIS GENERATION, L.L.C.,
                                as Grantor

                                By:      /s/ William E. Hobbs
                                        ---------------------
                                Name:   William E. Hobbs
                                Title:  President

                                MAPL INVESTMENTS, INC.,
                                as Grantor

                                By:      /s/ Alan S. Armstrong
                                        ----------------------
                                Name:   Alan S. Armstrong
                                Title:  Senior Vice President

<PAGE>

                                MAPCO INC., as Grantor

                                By:      /s/ Alan S. Armstrong
                                        ----------------------
                                Name:   Alan S. Armstrong
                                Title:  Senior Vice President

                                LONGHORN ENTERPRISES OF TEXAS, INC.,
                                as Grantor

                                By:      /s/ Ralph A. Hill
                                        ---------------------
                                Name:   Ralph A. Hill
                                Title:  Senior Vice President

                                JUAREZ PIPELINE COMPANY,
                                as Grantor

                                By:      /s/ Alan S. Armstrong
                                        ----------------------
                                Name:   Alan S. Armstrong
                                Title:  Senior Vice President

                                HI-BOL PIPELINE COMPANY,
                                as Grantor

                                By:      /s/ Alan S. Armstrong
                                        ----------------------
                                Name:   Alan S. Armstrong
                                Title:  Senior Vice President

                                GOEBEL GATHERING COMPANY, L.L.C.,
                                as Grantor

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

<PAGE>

                                GAS SUPPLY, L.L.C., as Grantor

                                By:      /s/ Ralph A. Hill
                                        ------------------
                                Name:   Ralph A. Hill
                                Title:  Senior Vice President

                                BLACK MARLIN PIPELINE COMPANY,
                                as Grantor

                                By:      /s/ Alan S. Armstrong
                                        ----------------------
                                Name:   Alan S. Armstrong
                                Title:  Senior Vice President

Each of the entities reflected on the following ten (10) pages is executing this
Amendment as a Financial Institution party to the Amended and Restated Credit
Agreement dated as of October 31, 2002 among the Company and the Financial
Institutions named therein.

                                CITICORP USA, INC., as Agent and
                                Collateral Agent

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

                                BANKS AND ISSUING BANKS:

                                CITICORP N.A., AS ISSUING BANK

                                By  /s/ Todd J. Mogil
                                Name:   Todd J. Mogil
                                Title:  Attorney-in-Fact

<PAGE>

                                CITICORP USA, INC.

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

                                THE BANK OF NOVA SCOTIA

                                By:  /s/ N. Bell
                                Name:   N. Bell
                                Title:  Senior Manager

                                BANK OF AMERICA N.A., as Issuing Bank and Bank

                                By:     /s/  Claire Liu
                                Name:   Claire Liu
                                Title:  Managing Director

                                JP MORGAN CHASE BANK

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

                                TORONTO DOMINION (TEXAS), INC.

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

<PAGE>

                                CREDIT LYONNAIS NEW YORK BRANCH

                                By  /s/ O. Audermard
                                Name:   O. Audermard
                                Title:  Senior Vice President

                                MERRILL LYNCH CAPITAL CORP.

                                By:  /s/ Carol J.E. Feeley
                                Name:   Carol J.E. Feeley
                                Title:  Vice President

                                LEHMAN COMMERCIAL PAPER INC.,

                                By:  /s/ Francis Chang
                                Name:   Francis Chang
                                Title:  Authorized Signatory

<PAGE>

                  Each of the entities reflected on the following pages is
executing this Amendment as a Financial Institution party to the First Amended
and Restated Credit Agreement, dated of October 31, 2002, among the Company,
Northwest Pipeline Corporation, Transcontinental Gas Pipeline Corporation, Texas
Gas Transmission and the Financial Institutions named therein:

<PAGE>

                             AGENT:

                             CITICORP USA, INC., as Agent

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

                             CO-SYNDICATION AGENTS:

                             JPMORGAN CHASE BANK
                             (formerly known as
                             THE CHASE MANHATTAN BANK), as
                             Co-Syndication Agent

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

                             COMMERZBANK AG,
                             as Co-Syndication Agent

                             By  /s/  Harry Yergey
                             Name:   Harry Yergey
                             Title:  Senior Vice Pres. and Manager

                             By  /s/  Brian Campbell
                             Name:   Brian Campbell
                             Title:  Senior Vice President

                             CREDIT LYONNAIS NEW YORK BRANCH
                             as Documentation Agent

                             By   /s/ O. Audemard
                             Name:   O. Audemard
                             Title:  Senior Vice President

                             BANKS:
                             CITICORP USA, INC.

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

<PAGE>

                             CITICORP N.A., as Collateral Trustee

                             By  /s/ Camille Tamao
                             Name:   Camille Tamao
                             Title:  Vice President

                             BANK OF AMERICA, N.A.

                             By    /s/  Claire Liu
                             Name:   Claire Liu
                             Title:  Managing Director

                             BANK ONE, N.A. (MAIN OFFICE - CHICAGO)

                             By  /s/ Jeanie C. Gonzalez
                             Name:   Jeanie C. Gonzalez
                             Title:  Director

                             JPMORGAN CHASE BANK
                             (formerly known as
                             THE CHASE MANHATTAN BANK)

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

                             COMMERZBANK AG
                             NEW YORK AND GRAND CAYMAN
                             BRANCHES

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

                             By  /s/ W. David Suttles
                             Name:   W. David Suttles
                             Title:  Vice President

<PAGE>

                             CREDIT LYONNAIS NEW YORK BRANCH

                             By  /s/ O. Audermard
                             Name:   O. Audermard
                             Title:  Senior Vice President

                             NATIONAL WESTMINSTER, PLC

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

                             ABN AMRO BANK, N.V.

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

                             By  /s/ Jeffrey G. White
                             Name:   Jeffrey G. White
                             Title:  Vice President

                             BANK OF MONTREAL

                             By  /s/ Mary Lee Latta
                             Name:   Mary Lee Latta
                             Title:  Director

                             THE BANK OF NEW YORK

                             By  /s/ Raymond J. Palmer
                             Name:   Raymond J. Palmer
                             Title:  Vice President

<PAGE>

                             BARCLAYS BANK PLC

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

                             CIBC INC.

                             By  /s/ George Knight
                             Name:   George Knight
                             Title:  Managing Director
                                     CIBC World Markets Corp. As Agent

                             CREDIT SUISSE FIRST BOSTON

                             By   /s/ James P. Moran
                             Name:   James P. Moran
                             Title:  Director

                             By  /s/  Ian W. Nalitt
                             Name:   Ian W. Nalitt
                             Title:  Associate

                             ROYAL BANK OF CANADA

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

                             THE BANK OF TOKYO-MITSUBISHI, LTD.,
                             HOUSTON AGENCY

                             By  /s/ Kelton Glasscock
                             Name:   Kelton Glasscock
                             Title:  Vice President and Manager

                             By  /s/ Jay Fort
                             Name:   Jay Fort
                             Title:  Vice President

<PAGE>

                             FLEET NATIONAL BANK
                             f/k/a Bank Boston, N.A.

                             By  /s/  Matthew W. Speh
                             Name:   Matthew W. Speh
                             Title:  Authorized Officer

                             SOCIETE GENERALE, SOUTHWEST AGENCY

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

                             TORONTO DOMINION (TEXAS), INC.

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

                             UBS AG, STAMFORD BRANCH

                             By:  /s/ Kelly Smith
                             Name:   Kelly Smith
                             Title:  Director

                             By:  /s/ Robert Reuter
                             Name:   Robert Reuter
                             Title:  Executive Director

                             WELLS FARGO BANK TEXAS, N.A.

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

<PAGE>

                             WESTLB AG, NEW YORK BRANCH

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

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

                             CREDIT AGRICOLE INDOSUEZ

                             By  /s/  Larry Materi
                             Name:   Larry Materi
                             Title:  Vice President

                             By  /s/  Paul A. Dytrych
                             Name:   Paul A. Dytrych
                             Title:  Vice President
                                     Senior Relationship Manager

                             SUNTRUST BANK

                             By   /s/ Steven J. Newby
                             Name:   Steven J. Newby
                             Title:  Director

                             ARAB BANKING CORPORATION (B.S.C.)

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

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

                             BNP PARIBAS, HOUSTON AGENCY

                             By  /s/   Larry Robinson
                             Name:   Larry Robinson
                             Title:  Vice President

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

<PAGE>

                             DZ BANK AG DEUTSCHE
                             ZENTRALGENOSSENSCHAFTSBANK, NEW YORK
                             BRANCH

                             By  /s/ Mark K. Connelly
                             Name:   Mark K. Connelly
                             Title:  Vice President

                             By  /s/ Richard W. Wilbert
                             Name:   Richard W. Wilbert
                             Title:  Vice President

                             KBC BANK N.V.

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

                             By: /s/ Diane M. Grimmig
                             Name:   Diane M. Grimmig
                             Title:  First Vice President

                             WACHOVIA BANK, NATIONAL ASSOCIATION

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

                             MIZUHO CORPORATE BANK, LTD

                             By  /s/ Jacques Azagury
                             Name:   Jacques Azagury
                             Title:  Senior Vice President and Manager

                             SUMITOMO MITSUI BANKING CORPORATION

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

                             COMMERCE BANK, N.A.

                             By  /s/ Dennis R. Block
                             Name:   Dennis R. Block
                             Title:  Senior Vice President
<PAGE>

                                   SCHEDULE I
                                       TO
                               SECURITY AGREEMENT
                 STATE OF ORGANIZATION AND ADDRESSES OF GRANTORS

<Table>
<Caption>
                        Entity                                     Principal Address                        State of
                                                                                                         Incorporation
     --------------------------------------        -----------------------------------------             --------------
<S>                                                <C>                                                   <C>
     Black Marlin Pipeline Company                 One Williams Center, Tulsa, OK 74172                        TX

     Gas Supply, L.L.C.                            One Williams Center, Tulsa, OK 74172                        DE

     Goebel Gathering Company, L.L.C.              One Williams Center, Tulsa, OK 74172                        DE

     HI-BOL Pipeline Company                       One Williams Center, Tulsa, OK 74172                        DE

     Juarez Pipeline Company                       One Williams Center, Tulsa, OK 74172                        DE

     Longhorn Enterprises of Texas, Inc.           One Williams Center, Tulsa, OK 74172                        DE

     MAPCO Inc.                                    One Williams Center, Tulsa, OK 74172                        DE

     MAPL Investments, Inc.                        One Williams Center, Tulsa, OK 74172                        DE

     Memphis Generation, L.L.C.                    One Williams Center, Tulsa, OK 74172                        DE

     North Padre Island Spindown, Inc.             One Williams Center, Tulsa, OK 74172                        DE

     The Williams Companies, Inc.                  One Williams Center, Tulsa, OK 74172                        DE

     WFS Enterprises, Inc.                         One Williams Center, Tulsa, OK 74172                        DE

     WFS Gathering Company, L.L.C.                 One Williams Center, Tulsa, OK 74172                        DE

     WFS-Liquids Company                           One Williams Center, Tulsa, OK 74172                        DE

     WFS-NGL Pipeline Company, Inc.                One Williams Center, Tulsa, OK 74172                        DE

     WFS-OCS Gathering Co.                         One Williams Center, Tulsa, OK 74172                        DE
</Table>

<PAGE>

<Table>
<Caption>
                        Entity                                     Principal Address                        State of
                                                                                                         Incorporation
     --------------------------------------        -----------------------------------------             --------------
<S>                                                <C>                                                   <C>
     WFS-Offshore Gathering Company                One Williams Center, Tulsa, OK 74172                        DE

     WFS - Pipeline Company                        One Williams Center, Tulsa, OK 74172                        DE

     Williams Alaska Air Cargo Properties, L.L.C.  One Williams Center, Tulsa, OK 74172                        AK

     Williams Alaska Petroleum, Inc.               One Williams Center, Tulsa, OK 74172                        AK

     Williams Alaska Pipeline Company, L.L.C.      One Williams Center, Tulsa, OK 74172                        DE

     Williams Bio-Energy, LLC                      One Williams Center, Tulsa, OK 74172                        DE

     Williams Energy Services, LLC                 One Williams Center, Tulsa, OK 74172                        DE

     Williams Ethanol Services, Inc.               1300 South Second Street, Pekin, IL 61554                   DE

     Williams Express, Inc. (AK)                   One Williams Center, Tulsa, OK 74172                        AK

     Williams Express, Inc. (DE)                   One Williams Center, Tulsa, OK 74172                        DE

     Williams Field Services Company               P.O. Box 3102, Tulsa, OK  74101                             DE

     Williams Field Services Group, Inc.           P.O. Box 3102, Tulsa, OK  74101                             DE

     Williams Field Services-Matagorda Offshore    One Williams Center, Tulsa, OK  74172                       DE
        Company, LLC

     Williams Gas Processing Company               P.O. Box 3102 Tulsa, OK 74101                               DE

     Williams Gas Processing - Mid Continent       One Williams Center, Tulsa, OK 74172                        DE
        Region Company
</Table>

<PAGE>

<Table>
<Caption>
                        Entity                                     Principal Address                        State of
                                                                                                         Incorporation
     --------------------------------------        -----------------------------------------             --------------
<S>                                                <C>                                                   <C>
     Williams Gas Processing -Wamsutter Company    One Williams Center, Tulsa, OK 74172                        DE

     Williams Generating Memphis, LLC              One Williams Center, Tulsa, OK 74172                        DE

     Williams Generation Company - Hazleton        One Williams Center, Tulsa, OK 74172                        DE

     Williams GP LLC                               One Williams Center, Tulsa, OK 74172                        DE

     Williams Gulf Coast Gathering Company, LLC    One Williams Center, Tulsa, OK 74172                        DE

     Williams Memphis Terminal, Inc.               One Williams Center, Tulsa, OK 74172                        DE

     Williams Merchant Services Company, Inc       One Williams Center, Tulsa, OK 74172                        DE

     Williams Mid-South Pipelines, LLC             One Williams Center, Tulsa, OK 74172                        DE

     Williams Midstream Natural Gas Liquids, Inc.  One Williams Center, Tulsa, OK 74172                        DE

     Williams Natural Gas Liquids, Inc.            One Williams Center, Tulsa, OK 74172                        DE

     Williams Olefins Feedstock Pipelines, L.L.C.  One Williams Center, Tulsa, OK 74172                        DE

     Williams Olefins, L.L.C.                      One Williams Center, Tulsa, OK 74172                        DE

     Williams Petroleum Pipeline Systems, Inc.     One Williams Center, Tulsa, OK 74172                        DE

     Williams Petroleum Services, LLC              One Williams Center, Tulsa, OK 74172                        DE

</Table>

<PAGE>

<Table>
<Caption>
                        Entity                                     Principal Address                        State of
                                                                                                         Incorporation
     --------------------------------------        -----------------------------------------             --------------
<S>                                                <C>                                                   <C>
     Williams Refining & Marketing, L.L.C.         One Williams Center, Tulsa, OK 74172                        DE

     Worthington Generation, L.L.C.                One Williams Center, Tulsa, OK 74172                        DE
</Table>

<PAGE>

                                   SCHEDULE II
                                       TO
                               SECURITY AGREEMENT

                      REQUIRED FINANCING STATEMENT FILINGS

<Table>
<Caption>
                            Entity                             UCC Central Filing Offices of the Secretary of
                                                                       State for the Following
                                                                               States
     -------------------------------------------               ----------------------------------------------
<S>                                                            <C>
     1.       Black Marlin Pipeline Company                                        TX

     2.       Gas Supply, L.L.C.                                                   DE

     3.       Goebel Gathering Company, L.L.C.                                     DE

     4.       HI-BOL Pipeline Company                                              DE

     5.       Juarez Pipeline Company                                              DE

     6.       Longhorn Enterprises of Texas, Inc.                                  DE

     7.       MAPCO Inc.                                                           DE

     8.       MAPL Investments, Inc.                                               DE

     9.       Memphis Generation, L.L.C.                                           DE

     10.      North Padre Island Spindown, Inc.                                    DE

     11.      The Williams Companies, Inc.                                         DE

     12.      WFS Enterprises, Inc.                                                DE

     13.      WFS Gathering Company, L.L.C.                                        DE

     14.      WFS-Liquids Company                                                  DE

     15.      WFS-NGL Pipeline Company, Inc.                                       DE
</Table>

<PAGE>

<Table>
<Caption>
                            Entity                             UCC Central Filing Offices of the Secretary of
                                                                       State for the Following
                                                                               States
     -------------------------------------------               ----------------------------------------------
<S>                                                            <C>
     16.      WFS-OCS Gathering Co.                                                DE

     17.      WFS-Offshore Gathering Company                                       DE

     18.      WFS Pipeline Company                                                 DE

     19.      Williams Alaska Air Cargo Properties, L.L.C.                         AK

     20.      Williams Alaska Petroleum, Inc.                                      AK

     21.      Williams Alaska Pipeline Company, L.L.C.                             DE

     22.      Williams Bio-Energy, LLC                                             DE

     23.      Williams Energy Services, LLC                                        DE

     24.      Williams Ethanol Services, Inc.                                      DE

     25.      Williams Express, Inc. (AK)                                          AK

     26.      Williams Express, Inc. (DE)                                          DE

     27.      Williams Field Services Company                                      DE

     28.      Williams Field Services Group, Inc.                                  DE

     29.      Williams Field Services-Matagorda Offshore                           DE
              Company, LLC

     30.      Williams Gas Processing Company                                      DE

     31.      Williams Gas Processing - Mid Continent                              DE
              Region Company
</Table>

<PAGE>

<Table>
<Caption>
                            Entity                             UCC Central Filing Offices of the Secretary of
                                                                       State for the Following
                                                                               States
     -------------------------------------------               ----------------------------------------------
<S>                                                            <C>
     32.      Williams Gas Processing -Wamsutter Company                           DE

     33.      Williams Generating Memphis, LLC                                     DE

     34.      Williams Generation Company - Hazleton                               DE

     35.      Williams GP LLC                                                      DE

     36.      Williams Gulf Coast Gathering Company, LLC                           DE

     37.      Williams Memphis Terminal, Inc.                                      DE

     38.      Williams Merchant Services Company, Inc                              DE

     39.      Williams Mid-South Pipelines, LLC                                    DE

     40.      Williams Midstream Natural Gas Liquids, Inc.                         DE

     41.      Williams Natural Gas Liquids, Inc.                                   DE

     42.      Williams Olefins Feedstock Pipelines, L.L.C.                         DE

     43.      Williams Olefins, L.L.C.                                             DE

     44.      Williams Petroleum Pipeline Systems, Inc.                            DE

     45.      Williams Petroleum Services, LLC                                     DE

     46.      Williams Refining & Marketing, L.L.C.                                DE
</Table>

<PAGE>

<Table>
<Caption>
                            Entity                             UCC Central Filing Offices of the Secretary of
                                                                       State for the Following
                                                                               States
     -------------------------------------------               ----------------------------------------------
<S>                                                            <C>
     47.       Worthington Generation, L.L.C.                                      DE
</Table>

<PAGE>

                                   SCHEDULE IV
                                       TO
                               SECURITY AGREEMENT

                            FORM OF JOINDER AGREEMENT

                                JOINDER AGREEMENT
                          (name of joining subsidiary)

                               [         ,      ]
                                ---------  -----

         [Joining Subsidiary], a [_________ corporation] (the "Subsidiary"),
hereby agrees with (a) CITIBANK, N.A., as collateral trustee for the benefit of
the holders of the Secured Obligations, (b) THE WILLIAMS COMPANIES, INC., a
Delaware corporation (the "Company") and (c) the other parties to the Security
Documents (as defined below), as follows:

         All capitalized terms used herein and not defined herein shall have the
meanings ascribed to such terms in the Amended and Restated Credit Agreement,
dated as of October 31, 2002, by and among The Williams Companies, Inc., the
various lenders as are or may become parties thereto; the Issuing Banks, and
Citicorp USA, Inc., as Agent and Collateral Agent (as further amended, modified,
supplemented, renewed, extended or restated from time to time, the "Credit
Agreement").

         In accordance with the terms of the [Security Agreement, Pledge
Agreement and Collateral Trust Agreement] (collectively, the "Security
Documents"), the Subsidiary hereby (a) [joins the Security Agreement as a party
thereto and assumes all the obligations of a Grantor (as defined in the Security
Agreement) under the Security Agreement], (b) [joins the Pledge Agreement as a
party thereto and assumes all the obligations of a Pledgor (as defined in the
Pledge Agreement) under the Pledge Agreement], (c) [joins the Collateral Trust
Agreement as a party thereto and assumes all the obligations of a Debtor (as
defined in the Collateral Trust Agreement) under the Collateral Trust
Agreement], (d) agrees to be bound by the provisions of the Security Documents
as if the Subsidiary had been an original party to the Security Documents, and
(e) confirms that, after joining the Security Documents as set forth above, the
representations and warranties set forth in each of the Credit Documents with
respect to the Subsidiary are true and correct in all material respects as of
the date of this Joinder Agreement.

         For purposes of notices under the Security Documents, the notice
address for the Subsidiary may be given to the Subsidiary by providing notice
addressed to [Subsidiary's Name] c/o The Williams Companies, Inc., in any manner
that notice is permitted to be given to the Company pursuant to the terms of the
Credit Agreement.

         [Schedule I and Schedule II to the Security Agreement are hereby
supplemented with the information set forth on Exhibit I to this Joinder
Agreement.]

<PAGE>

         [Schedule I and Schedule II to the Pledge Agreement are hereby
supplemented with the information regarding the Subsidiary set forth on Exhibit
II to this Joinder Agreement.]

         THIS WRITTEN AGREEMENT AND THE CREDIT DOCUMENTS REPRESENT THE FINAL
AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR,
CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.

         THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

         IN WITNESS WHEREOF this Joinder Agreement is executed and delivered as
of the ___ day of ____________, _____.

                                        [Joining Subsidiary]

                                        By:
                                           ------------------------------------
                                        Name:
                                             ----------------------------------
                                        Title:
                                              ---------------------------------<PAGE>
                                                                    EXHIBIT 10.5

                                                                  EXECUTION COPY

                       FIRST AMENDMENT TO PLEDGE AGREEMENT

         This First Amendment dated as of October 31, 2002 (this "Amendment") to
the Pledge Agreement dated as of July 31, 2002 (as amended and modified from
time to time, the "Pledge Agreement"), is among The Williams Companies, Inc., a
Delaware corporation (the "Company"), and each of its Subsidiaries which is or
which subsequently becomes a party to the Pledge Agreement (together, with the
Company, the "Pledgors"), in favor of Citibank, N.A., as collateral trustee
("Collateral Trustee") for the benefit of the holders of the Secured
Obligations. All capitalized terms used herein and not otherwise defined shall
have the meanings ascribed to such terms in the Pledge Agreement.

                                   WITNESSETH:

         WHEREAS, the parties hereto have agreed to amend certain provisions of
the Pledge Agreement;

         NOW, THEREFORE, in consideration of the mutual covenants contained
herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree that the
Pledge Agreement is hereby amended as follows:

1.       Amendments.

         (a) Pursuant to the terms of those two certain Consent and Waivers each
         dated as of September 20, 2002, by and among the Company and the other
         signatories thereto, the Pledge Agreement was amended to (i) remove
         Williams Field Services - Gulf Coast Company, L.P. ("WFS") as an
         Obligor, (ii) acknowledge that the equity interests held by WFS
         Enterprises, Inc., and Williams Field Services Company in WFS were
         erroneously pledged, (iii) add Williams Gulf Coast Gathering Company,
         LLC ("Gathering") as an Obligor and (iv) add North Padre Island
         Spindown, Inc. as a Pledgor of its equity interest in Gathering.
         Pursuant to this Amendment, Williams GP LLC; Williams Petroleum
         Services, LLC; Longhorn Enterprises of Texas, Inc.; and WFS Gathering
         Company, L.L.C. are added as Pledgors, and the following additional
         parties are added as Obligors: WFS - Pipeline Company; WFS Gathering
         Company, L.L.C.; Williams Field Services - Matagorda Offshore Company,
         LLC; Williams Gas Processing - Mid Continent Region Company; WFS-OCS
         Gathering Co.; HI-BOL Pipeline Company; Goebel Gathering Company,
         L.L.C.; Williams Petroleum Services, LLC; Longhorn Enterprises of
         Texas, Inc.; and NewGP (as defined in the L/C Credit Agreement
         (hereafter defined)).

         (b) Section 1(b) of the Pledge Agreement is hereby amended by deleting
         such Section and replacing it in its entirety with the following:

                  (b) all shares of capital stock, general and limited
                  partnership interests, limited liability company interests,
                  trust interests, joint venture interests, ownership rights
                  arising under the law of any jurisdiction, and any evidence of

<PAGE>

                  the foregoing, together with any property and rights
                  derivative thereof, acquired, received or owned by any Pledgor
                  (other than those acquired, received or owned in anticipation
                  of a divestiture permitted by Section 5.1(h) of the L/C Credit
                  Agreement and Section 5.01(h) of the Multiyear Williams Credit
                  Agreement), which, after the date of this Agreement, becomes,
                  as a result of any occurrence, a Subsidiary of any Pledgor or
                  of the Company and which Subsidiary is engaged in the
                  Midstream Business or owns Midstream Assets;

         (c) The definition of "Pledged Shares" set forth in Section 1 of the
         Pledge Agreement is hereby amended by deleting the word "shares" in the
         first line of such definition and inserting the following phrase before
         the words "described in Schedule I":

                  "shares of capital stock, general and limited partnership
                  interests, limited liability company interests, trust
                  interests, joint venture interests, ownership rights arising
                  under the law of any jurisdiction and any evidence of the
                  foregoing, together with any property and rights derivative
                  thereof, all of the foregoing as".

         (d) The following sentence shall be added to the end of Section 1 of
         the Pledge Agreement:

                  "Notwithstanding the grant of a security interest set forth
                  above in this Section 1, Excluded Equity Interests (as defined
                  in the L/C Credit Agreement and the Multiyear Williams Credit
                  Agreement) shall not constitute Pledged Collateral under this
                  Agreement."

         (e) Section 4(k) and (l) of the Pledge Agreement are hereby amended by
         deleting such Sections and replacing them in their entirety with the
         following:

                  (k) Such Pledgor will (i) cause each issuer of shares of stock
                  comprising Pledged Collateral not to issue any stock or other
                  securities in addition to or in substitution for the shares of
                  stock comprising the Pledged Collateral issued by such issuer,
                  except for stock and other securities issued to such Pledgor
                  or another Pledgor and subject to this Agreement, (ii) pledge
                  hereunder, promptly upon its acquisition (directly or
                  indirectly) thereof, any and all additional shares of stock or
                  other securities of each issuer of Pledged Collateral, and
                  (iii) pledge hereunder, promptly upon its acquisition
                  (directly or indirectly) thereof, any and all shares of stock
                  or other equity interest covered by Section 1(b) hereof.
                  Notwithstanding anything to the contrary in this Section 4(k),
                  this section shall not restrict or limit in any way the
                  ability of Williams Energy Partners L.P. or NewGP or their
                  respective subsidiaries to issue stock or other equity
                  interest.

                           (l) Each Pledgor agrees that it (i) shall not sell,
                  assign, transfer, pledge, mortgage, hypothecate, dispose of or
                  encumber, or grant any option or warrant or Lien or right with
                  respect to, or permit any Liens to arise with respect to, the
                  Pledged Collateral, any of its rights in or to the Pledged
                  Collateral and any portion thereof, except for the pledge
                  thereof provided for in this Agreement, and

<PAGE>

                  (ii) except as permitted under Sections 5.1(d), 5.2(d) and
                  5.2(f) of the L/C Credit Agreement and Sections 5.01(d),
                  5.02(c) and 5.02(f) of the Multiyear Williams Credit
                  Agreement, shall not permit any issuer of shares of stock
                  comprising Pledged Collateral to terminate its corporate
                  existence, to be a party to any merger or consolidation, or to
                  sell, lease or dispose of all or substantially all of its
                  assets and properties in a single transaction or series of
                  related transactions.

         (e) The following paragraph is hereby added to the end of Section 4
         after the last lettered paragraph:

                           Notwithstanding anything to the contrary in Section 4
                  of this Pledge Agreement, (i) the Pledgors shall not be
                  restricted from completing or permitting any dispositions that
                  can be completed without violating any of the following
                  provisions: Sections 5.2(e) and 5.2(f) of the L/C Credit
                  Agreement, and Sections 5.02(f) and 5.02(l) of the Multiyear
                  Williams Credit Agreement, and (ii) the existence of Permitted
                  Liens (other than the Permitted Liens described in Schedule
                  III Paragraphs y, gg, and jj from the L/C Credit Agreement and
                  Schedule VI Paragraphs y, gg, and jj from the Multiyear
                  Williams Credit Agreement) shall not be a violation of any
                  representations, warranties or covenants set forth in Section
                  4 of this Pledge Agreement.

         (f) The first phrase of Section 6(a) which currently reads as follows:
         "(a) So long as no default or event of default, however denominated,
         under any Credit Document (an "Event of Default") has occurred:" is
         hereby amended by deleting such phrase and replacing it in its entirety
         with the following:

                           (a) The Pledgors shall have the rights described in
                  (i), (ii) and (iii) below until (x) a default or event of
                  default, however denominated, under any Credit Document (an
                  "Event of Default") has occurred, and (y) the notice
                  requirement in Section 6(b) has been complied with.

         (g) Paragraph (a) of Section 19 of the Pledge Agreement is hereby
         amended by deleting such paragraph and replacing it in its entirety
         with the following:

                           (a) This Agreement shall be governed by and construed
                  in accordance with the laws of the State of New York. All
                  capitalized terms that are used but not defined herein shall
                  have the meanings ascribed to such terms in that certain
                  Amended and Restated Credit Agreement dated as of October 31,
                  2002 (as amended, modified, supplemented or restated from time
                  to time, the "L/C Credit Agreement"), by and among the
                  Company, Citicorp USA, Inc., as agent and collateral agent,
                  Bank of America N. A. as syndication agent, Citibank, N.A.,
                  The Bank of Nova Scotia and Bank of America N.A. as issuing
                  banks, Salomon Smith Barney Inc. as Arranger, and the banks
                  named therein; provided, however that any subsequent
                  modification of a definition made pursuant to an amendment,
                  modification, supplement or

<PAGE>

                  restatement of the L/C Credit Agreement shall not apply to
                  this Agreement unless a conforming modification of such
                  definition is simultaneously made pursuant to an amendment,
                  modification, supplement or restatement of the Multiyear
                  Williams Credit Agreement. Unless otherwise defined herein or
                  in the L/C Credit Agreement, the terms defined in Articles 8
                  and 9 of the New York UCC are used herein as therein defined.

         (h) Section 24 of the Pledge Agreement is hereby amended by deleting
         such Section and replacing it in its entirety with the following:

                           24. Incorporated Definitions and Provisions. All
                  defined terms and other provisions (including, without
                  limitation, the amendment provisions), that are incorporated
                  into this Pledge Agreement by reference to other agreements or
                  statutes shall incorporate into this Pledge Agreement the
                  provisions of such other agreements and statutes that exist as
                  of the date hereof; however, such provisions shall be
                  automatically modified herein by any amendment or modification
                  that takes place after the date hereof in such other
                  referenced agreements or statutes; subject to the following
                  limitations: (a) no such amendment or modification (of an
                  above referenced agreement) shall be effective with respect to
                  this Pledge Agreement until Collateral Trustee shall have
                  received a copy of such amendment or modification and (b) no
                  provision of any such amendment or modification of an above
                  referenced agreement that imposes any additional liability,
                  obligation or adverse effect on the Collateral Trustee shall
                  be effective with respect to this Pledge Agreement unless the
                  Collateral Trustee has executed a written consent to such
                  provision or to the amendment or modification in which such
                  provision is set forth.

         (i) The following Section 25 is hereby added to the Pledge Agreement:

                           25. Joinder. Pursuant to the terms of the Credit
                  Documents certain Subsidiaries (hereafter referred to as the
                  "Joining Subsidiaries") may desire to or be required to join
                  this Pledge Agreement as Pledgors or Obligors. In connection
                  with any such joinder the Joining Subsidiary shall cause to be
                  executed and delivered (a) a joinder agreement substantially
                  in the form of the joinder agreement attached hereto as
                  Schedule VI and (b) authorization documentation, corporate
                  documentation, perfection documentation and opinion letters
                  reasonably satisfactory to the Collateral Trustee reflecting
                  the status of such Joining Subsidiary and the enforceability
                  of such agreements with respect to such Joining Subsidiary;
                  provided, however, that the Collateral Trustee shall have no
                  obligations with respect to the additional Pledged Collateral
                  that results from the addition of a Joining Subsidiary as a
                  Pledgor or Obligor pursuant to this Pledge Agreement prior to
                  the delivery of such additional Pledged Collateral, and
                  Collateral Trustee shall have no duty to solicit the delivery
                  of any Pledged Collateral from any Pledgor.

         (j) Schedule I to Pledge Agreement is hereby amended and restated in
         its entirety and replaced with Schedule I attached hereto.

         (k) Schedule II to Pledge Agreement is hereby amended and restated in
         its entirety and replaced with Schedule II attached hereto.

<PAGE>

         (l) A new Schedule VI to the Pledge Agreement is hereby added which is
         the document attached as Schedule VI hereto.

2. Acknowledgement. Williams Alaska Air Cargo Properties, L.L.C. hereby
acknowledges that it is a Pledgor and original signatory to the Pledge Agreement
effective as of July 31, 2002.

3. Conditions to Effectiveness. This Amendment shall be deemed effective (the
"Effective Date") upon the satisfaction of the conditions precedent as set out
in Section 3.1 of that certain Amended and Restated Credit Agreement dated as of
October 31, 2002, among the Company and the Financial Institutions named
therein, without giving effect to the terms of Section 3.3; provided, however,
that the Collateral Trustee shall have no obligations with respect to the
additional Pledged Collateral that results from the addition of Pledgors or
Obligors as parties to the Pledge Agreement pursuant to this Amendment prior to
the delivery of such additional Pledged Collateral, and the Collateral Trustee
shall have no duty to solicit the delivery of any Pledged Collateral from any
Pledgor or Obligor. Notwithstanding anything to the contrary herein, any
provision or portion of a provision in this Amendment that is or is determined
to be a release of Pledged Collateral shall not be effective to release such
Pledged Collateral until the Collateral Trustee has received satisfactory
documentation that such release of Pledged Collateral is permitted by or has
been properly approved in accordance with the terms of the Collateral Trust
Agreement.

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

3. Reference to and Effect on the Pledge Agreement. The amendments set forth
herein are limited precisely as written and shall not be deemed to be a consent
or waiver to, or modification of any other term or condition in the Pledge
Agreement or any of the documents referred to therein. Except as expressly
amended and consented hereby, the terms and conditions of the Pledge Agreement
shall continue in full force and effect, and as amended hereby, the Pledge
Agreement is ratified and confirmed in all respects. On and after the Effective
Date, the Pledge Agreement shall be deemed to mean the Pledge Agreement as
amended hereby and all references to the Pledge Agreement shall be deemed to
refer to the Pledge Agreement as amended hereby.

4. Counterparts. This Amendment may be executed in several counterparts, each of
which shall be deemed an original, but all of which together shall constitute
one and the same agreement.

Schedule I:       Schedule I to Pledge Agreement
Schedule II:      Schedule II to Pledge Agreement
Schedule VI:      Form of Joinder Agreement

<PAGE>
         IN WITNESS WHEREOF, the parties hereto, acting through their duly
authorized representatives, have caused this Amendment to be signed in their
respective names.

                  THE WILLIAMS COMPANIES, INC.,
                  as Pledgor

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

                  WILLIAMS REFINING & MARKETING, L.L.C.,
                  as Pledgor

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

                  WILLIAMS PETROLEUM SERVICES, LLC,
                  as Pledgor

                  By:            /s/ Ralph A. Hill
                           -----------------------------------------
                           Name:    Ralph A. Hill
                           Title:   Senior Vice President

                  WILLIAMS PETROLEUM PIPELINE SYSTEMS,
                  INC., as Pledgor

                  By:            /s/ Ralph A. Hill
                           -----------------------------------------
                           Name:    Ralph A. Hill
                           Title:   Senior Vice President

                  WILLIAMS OLEFINS, L.L.C., as Pledgor

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

<PAGE>

                  WILLIAMS NATURAL GAS LIQUIDS, INC..
                  as Pledgor

                  By:            /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  WILLIAMS MIDSTREAM NATURAL GAS LIQUIDS,
                  INC., as Pledgor

                  By:            /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  WILLIAMS MERCHANT SERVICES COMPANY,
                  INC., as Pledgor

                  By:          /s/ William E. Hobbs
                           -----------------------------------------
                           Name:    William E. Hobbs
                           Title:   President

                  WILLIAMS GP, LLC, as Pledgor

                  By:        /s/ Don R. Wellendorf
                           -----------------------------------------
                           Name:    Don R. Wellendorf
                           Title:   President and Chief
                                     Executive Officer

                  WILLIAMS FIELD SERVICES GROUP, INC.,
                  as Pledgor

                  By:            /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

<PAGE>

                  WILLIAMS EXPRESS, INC. (a Delaware corporation),
                  as Pledgor

                  By:           /s/ Ralph A. Hill
                           -----------------------------------------
                           Name:    Ralph A. Hill
                           Title:   Chief Executive Officer

                  WILLIAMS ENERGY SERVICES, LLC,
                  as Pledgor

                  By:            /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  WILLIAMS ENERGY MARKETING & TRADING
                  COMPANY, as Pledgor

                  By:            /s/ William E. Hobbs
                           -----------------------------------------
                           Name:    William E. Hobbs
                           Title:   President

                  WILLIAMS BIO-ENERGY, L.L.C.,
                  as Pledgor

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

                  WILLIAMS ALASKA PETROLEUM, INC.,
                  as Pledgor

                  By:            /s/ Ralph A. Hill
                           -----------------------------------------
                           Name:    Ralph A. Hill
                           Title:   Chief Executive Officer

<PAGE>

                  WILLIAMS ALASKA AIR CARGO PROPERTIES,
                  L.L.C., as Pledgor

                  By:      WILLIAMS ALASKA PETROLEUM, INC.
                           its sole member

                  By:            /s/ Ralph A. Hill
                           -----------------------------------------
                           Name:    Ralph A. Hill
                           Title:   Chief Executive Officer

                  WFS-NGL PIPELINE COMPANY, INC.,
                  as Pledgor

                  By:            /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  WFS-LIQUIDS COMPANY, as Pledgor

                  By:            /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  WFS GATHERING COMPANY, L.L.C.,
                  as Pledgor

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

                  NORTH PADRE ISLAND SPINDOWN, INC.,
                  as Pledgor

                  By:            /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

<PAGE>

                  MAPCO INC. , as Pledgor

                  By:         /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  LONGHORN ENTERPRISES OF TEXAS, INC.,
                  as Pledgor

                  By:            /s/ Ralph A. Hill
                           -----------------------------------------
                           Name:    Ralph A. Hill
                           Title:   Senior Vice President

                  JUAREZ PIPELINE COMPANY,
                  AS PLEDGOR

                  By:         /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  WILLIAMS ENERGY SERVICES, LLC,
                  as Obligor

                  By:            /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  HI-BOL PIPELINE COMPANY, as Obligor

                  By:         /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

<PAGE>

                  GOEBEL GATHERING COMPANY, L.L.C.,
                  as Obligor

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

                  GAS SUPPLY, L.L.C., as Obligor

                  By:          /s/ Ralph A. Hill
                           -----------------------------------------
                           Name:    Ralph A. Hill
                           Title:   Senior Vice President

                  BLACK MARLIN PIPELINE COMPANY.
                  as Obligor

                  By:         /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  MAPCO INC. , as Obligor

                  By:         /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  LONGHORN ENTERPRISES OF TEXAS, INC.,
                  as Obligor

                  By:            /s/ Ralph A. Hill
                           -----------------------------------------
                           Name:    Ralph A. Hill
                           Title:   Senior Vice President

<PAGE>

                  JUAREZ PIPELINE COMPANY,
                  AS OBLIGOR

                  By:         /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  MEMPHIS GENERATION, L.L.C., as Obligor

                  By:         /s/ William E. Hobbs
                           -----------------------------------------
                           Name:    William E. Hobbs
                           Title:   President

                  MAPL INVESTMENTS, INC. as Obligor

                  By:         /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  NORTH PADRE ISLAND SPINDOWN, INC.,
                  as Obligor

                  By:            /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  WFS ENTERPRISES, INC., as Obligor

                  By:         /s/ Mary Jane Bittick
                           -----------------------------------------
                           Name:    Mary Jane Bittick
                           Title:   Treasurer

<PAGE>

                  WFS - PIPELINE COMPANY, as Obligor

                  By:          /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  WFS - OCS GATHERING CO., as Obligor

                  By:         /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  WFS-NGL PIPELINE COMPANY, INC.,
                  as Obligor

                  By:            /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  WFS-LIQUIDS COMPANY, as Obligor

                  By:            /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  WFS GATHERING COMPANY, L.L.C.,
                  as Obligor

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

<PAGE>

                  WFS-OFFSHORE GATHERING COMPANY, as Obligor

                  By:            /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  WILLIAMS ALASKA PETROLEUM, INC.,
                  as Obligor

                  By:            /s/ Ralph A. Hill
                           -----------------------------------------
                           Name:    Ralph A. Hill
                           Title:   Chief Executive Officer

                  WILLIAMS ALASKA AIR CARGO PROPERTIES,
                  L.L.C., as Obligor

                  By:      WILLIAMS ALASKA PETROLEUM, INC.
                           its sole member

                  By:            /s/ Ralph A. Hill
                           -----------------------------------------
                           Name:    Ralph A. Hill
                           Title:   Chief Executive Officer

                  WILLIAMS FIELD SERVICES - MATAGORDA
                  OFFSHORE COMPANY, LLC, as Obligor

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

                  WILLIAMS GULF COAST GATHERING COMPANY,
                  LLC, as Obligor

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

<PAGE>

                  WILLIAMS MID-SOUTH PIPELINES, LLC,
                  as Obligor

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

                  WORTHINGTON GENERATION, L.L.C.,
                  as Obligor

                  By:          /s/ William E. Hobbs
                           -----------------------------------------
                  Name:    William E. Hobbs
                  Title:   President

                  WILLIAMS ALASKA PIPELINE COMPANY,
                  L.L.C.,  as Obligor

                  By:            /s/ Ralph A. Hill
                           -----------------------------------------
                           Name:    Ralph A. Hill
                           Title:   Senior Vice President

                  WILLIAMS BIO-ENERGY, L.L.C.,
                  as Obligor

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

                  WILLIAMS ETHANOL SERVICES, INC.,
                  as Obligor

                  By:          /s/ Paul W. Nelson
                           -----------------------------------------
                           Name:    Paul W. Nelson
                           Title:   Treasurer

<PAGE>

                  WILLIAMS EXPRESS INC. (an Alaska corporation),
                  as Obligor

                         By:          /s/ Ralph A. Hill
                                  ----------------------------------
                                  Name:    Ralph A. Hill
                                  Title:   Chief Executive Officer

                  WILLIAMS EXPRESS, INC. (a Delaware corporation),
                  as Obligor

                  By:           /s/ Ralph A. Hill
                           -----------------------------------------
                           Name:    Ralph A. Hill
                           Title:   Chief Executive Officer

                  WILLIAMS FIELD SERVICES COMPANY,
                  as Obligor

                  By:        /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  WILLIAMS FIELD SERVICES GROUP, INC.,
                  as Obligor

                  By:            /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  WILLIAMS GAS PROCESSING - MID-CONTINENT
                  REGION COMPANY, as Obligor

                  By:            /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

<PAGE>

                  WILLIAMS GAS PROCESSING - WAMSUTTER
                  COMPANY, as Obligor

                  By:          /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  WILLIAMS GAS PROCESSING COMPANY,
                  as Obligor

                  By:         /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  WILLIAMS GENERATING MEMPHIS, LLC.
                  as Obligor

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

                  WILLIAMS GP, LLC, as Obligor

                  By:        /s/ Don R. Wellendorf
                           -----------------------------------------
                           Name:    Don R. Wellendorf
                           Title:   President and Chief
                                     Executive Officer

                  WILLIAMS MEMPHIS TERMINAL, INC.,
                  as Obligor

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

<PAGE>

                  WILLIAMS MERCHANT SERVICES COMPANY,
                  INC., as Obligor

                  By:          /s/ William E. Hobbs
                           -----------------------------------------
                           Name:    William E. Hobbs
                           Title:   President

                  WILLIAMS MIDSTREAM NATURAL GAS LIQUIDS,
                  INC., as Obligor

                  By:            /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  WILLIAMS NATURAL GAS LIQUIDS, INC..
                  as Obligor

                  By:            /s/ Alan S. Armstrong
                           -----------------------------------------
                           Name:    Alan S. Armstrong
                           Title:   Senior Vice President

                  WILLIAMS OLEFINS FEEDSTOCK PIPELINES,
                  L.L.C., as Obligor

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

                  WILLIAMS OLEFINS, L.L.C., as Obligor

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

<PAGE>

                  WILLIAMS PETROLEUM PIPELINE SYSTEMS,
                  INC., as Obligor

                  By:            /s/ Ralph A. Hill
                           -----------------------------------------
                           Name:    Ralph A. Hill
                           Title:   Senior Vice President

                  WILLIAMS PETROLEUM SERVICES, LLC,
                  as Obligor

                  By:            /s/ Ralph A. Hill
                           -----------------------------------------
                           Name:    Ralph A. Hill
                           Title:   Senior Vice President

                  WILLIAMS PRODUCTION COMPANY, L.L.C.,
                  as Obligor

                          By:          /s/ Ralph A. Hill
                                   ---------------------------------
                                   Name:    Ralph A. Hill
                                   Title:   Senior Vice President

                  WILLIAMS REFINING & MARKETING, L.L.C.,
                  as Obligor

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

                  WEG GP LLC, as Obligor

                  By:            /s/ Michael N. Mears
                           -----------------------------------------
                           Name:    Michael N. Mears
                           Title:   Vice President

<PAGE>

                  CITIBANK, N.A., as Collateral Trustee

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

                  AGENT AND COLLATERAL AGENT

                  CITICORP USA, INC., as Agent and Collateral Agent

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

                  BANKS AND ISSUING BANKS:

                  CITIBANK N.A., as Issuing Bank

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

                  CITICORP USA, INC.

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

                  THE BANK OF NOVA SCOTIA, as Canadian
                  Issuing Bank and Bank

                  By:
                  Name:
                  Title:

<PAGE>
                  BANK OF AMERICA N.A., as Issuing Bank and Bank

                  By:  /s/  Claire Liu
                  Name:  Claire Liu
                  Title:  Managing Director

                  JP MORGAN CHASE BANK

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

                  TORONTO DOMINION (TEXAS), INC.

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

                  CREDIT LYONNAIS NEW YORK BRANCH

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

                  MERRILL LYNCH CAPITAL CORP.

                  By:  /s/  Carol J.E. Feeley
                  Name:  Carol J.E. Feeley
                  Title:  Vice President

                  LEHMAN COMMERCIAL PAPER INC.

                  By:  /s/  Francis Chang
                  Name:  Francis Chang
                  Title:  Authorized Signatory

<PAGE>

Each of the entities reflected on the following pages is executing this
Amendment as a Financial Institution party to the First Amended and Restated
Credit Agreement, doted as of October 31, 2002, among the Company, Northwest
Pipeline Corporation, Transcontinental Gas Pipeline Corporation, Texas Gas
Transmission and the Financial Institutions named therein:

<PAGE>

                         AGENT:

                         CITICORP, USA, INC., as Agent

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

                         CO-SYNDICATION AGENTS:

                         JPMORGAN CHASE BANK
                         (formerly known as
                         THE CHASE MANHATTAN BANK), as Co-Syndication Agent

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

                         COMMERZBANK AG,
                         as Co-Syndication Agent

                         By:  /s/  Harry Yergey
                         Name:  Harry Yergey
                         Title:  Senior Vice Pres. and Manager

                         By:  /s/  Brian Campbell
                         Name:  Brian Campbell
                         Title:  Senior Vice President

                         DOCUMENTATION AGENT:

                         CREDIT LYONNAIS NEW YORK BRANCH

                         as Documentation Agent

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

                         BANKS:

                         CITIBANK, USA, INC.

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

<PAGE>

                         THE BANK OF NOVA SCOTIA

                         By:      /s/ N. Bell
                         Name:    N. Bell
                         Title:   Senior Manager

                         BANK OF AMERICA, N.A.

                         By:  /s/  Claire M. Liu
                         Name:  Claire M. Kiu
                         Title:  Vice President

                         BANK ONE, N.A. (MAIN OFFICE - CHICAGO)

                         By:  /s/  Jeanie C. Gonzalez
                         Name:  Jeanie C. Gozalez
                         Title:  Director

                         JPMORGAN CHASE BANK
                         (formerly known as
                         THE CHASE MANHATTAN BANK)

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

                         COMMERZBANK AG
                         NEW YORK AND GRAND CAYMAN BRANCHES

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

                         By:      /s/ W. David Suttles
                         Name:    W. David Suttles
                         Title:   Vice President

<PAGE>

                         CREDIT LYONNAIS NEW YORK BRANCH

                         By:  /s/  Olivier Audermard
                         Name:  Olivier Audermard
                         Title:  Senior V.P.

                         NATIONAL WESTMINSTER BANK PLC NEW YORK BRANCH

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

                         ABN AMRO BANK, N.V.

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

                         By:  /s/  Jeffrey G. White
                         Name:  Jeffrey G. White
                         Title:  Vice President

                         BANK OF MONTREAL

                         By:      /s/  Mary Lee Latta
                         Name:    Mary Lee Latta
                         Title:   Director
                                    Bank of Montreal

                         THE BANK OF NEW YORK

                         By:  /s/  Raymond J. Palmer
                         Name:  Raymond J. Palmer
                         Title:  Vice President

<PAGE>

                         BARCLAYS BANK PLC

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

                         CIBC INC.

                         By:  /s/  George Knight
                         Name:  George Knight
                         Title:  Managing Director
                                 CIBC World Markets Corp., As Agent

                         CREDIT SUISSE FIRST BOSTON

                         By:  /s/ James P. Moran   /s/ Ian W. Nalitt
                         Name:  James P. Moran   Ian W. Nalitt
                         Title:  Director                 Associate

                         ROYAL BANK OF CANADA

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

                         THE BANK OF TOKYO-MITSUBISHI, LTD., HOUSTON AGENCY

                         By:      /s/ Kelton Glassock
                         Name:    Kelton Glassock
                         Title:   Vice President and Manager

                         By:      /s/ Jay Fort
                         Name:    Jay Fort
                         Title:   Vice President

<PAGE>

                         FLEET NATIONAL BANK
                         f/k/a Bank Boston, N.A.

                         By:  /s/  Matthew W. Speh
                         Name:  Matthew W. Speh
                         Title:  Authorized Officer

                         SOCIETE GENERALE, SOUTHWEST AGENCY

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

                         TORONTO DOMINION (TEXAS), INC.

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

                         UBS AG, STAMFORD BRANCH

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

                         WELLS FARGO BANK TEXAS, N.A.

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

<PAGE>

                         WESTLB AG, NEW YORK BRANCH

                         By:     /s/ Salvatore Bettnell     Duncan M. Robertson
                         Name:   Salvatore Bettnell         Duncan M. Robertson
                         Title:  Managing Director          Director
                                 Credit Department

                         CREDIT AGRICOLE INDOSUEZ

                         By:  /s/  Larry Materi
                         Name:   Larry Materi
                         Title:  Vice President

                         By:  /s/  Paul A. Dytrych
                         Name:  Paul A. Dytrych
                         Title:  Vice President

                         SUNTRUST BANK

                         By:  /s/  Steven J. Newby
                         Name:  Steven J. Newby
                         Title:  Director

                         ARAB BANKING CORPORATION (B.S.C.)

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

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

                         BANK OF CHINA, NEW YORK BRANCH

                         By:
                         Name:
                         Title:

<PAGE>

                         BANK OF OKLAHOMA, N.A.

                         By:
                         Name:
                         Title:

                         BNP PARIBAS, HOUSTON AGENCY

                         By:  /s/  Larry Robinson
                         Name:  Larry Robinson
                         Title:  Vice President

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

                         DZ BANK AG DEUTSCHE ZENTRALGENOSSENSCHAFTSBANK,
                         NEW YORK BRANCH

                         By:  /s/  Mark Connelly
                         Name:  Mark Connelly
                         Title:  Senior V.P.

                         By:  /s/  Richard W. Wilbert
                         Name:  Richard W. Wilbert
                         Title:  Vice President

                         KBC BANK N.V.

                         By:  /s/  Michael V. Curran
                         Name:  Robert Snauffer
                         Title:   First Vice President

                         By:  /s/  Diane M. Grimmig
                         Name:  Diane M. Grimmig
                         Title:  Vice President

                         WACHOVIA BANK, N.A.

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

<PAGE>

                         MIZUHO CORPORATE BANK, LTD

                         By:  /s/  Jacques Azagury
                         Name:  Jacques Azagury
                         Title:  Senior Vice President and Manager

                         SUMITOMO MITSUI BANKING CORPORATION

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

                         COMMERCE BANK, N.A.

                         By:  /s/ Dennis R. Block
                         Name:  Dennis R. Block
                         Title:  Senior Vice President

                         ROYAL BANK OF SCOTLAND

                         By:
                         Name:
                         Title:

                         RZB FINANCE, LLC

                         By:
                         Name:
                         Title:

<PAGE>

                                   SCHEDULE I
                               TO PLEDGE AGREEMENT

                           SCHEDULE OF PLEDGED SHARES

<Table>
<Caption>
                                                                                         NUMBER OF        PERCENT OF
                                      STATE OF                                            SHARES/        TOTAL EQUITY
                                     ORGANIZATION                    STOCK                 UNITS          INTERESTS
                   PLEDGED           (PLEDGED         CLASS OF   CERTIFI-CATE   PAR        SHARES         OWNED BY
PLEDGOR            SUBSIDIARY        SUBSIDIARY)       STOCK          NO.      VALUE       UNITS           PLEDGOR*
------------------ ----------------- --------------- ------------ ---------- ---------- -------------- ---------------
<S>                <C>               <C>             <C>          <C>        <C>        <C>            <C>
The Williams       Williams Energy         DE            N/A         N/A        N/A          N/A            100%
Companies, Inc.    Services, LLC

                   Williams                DE          Common         1         100          10             100%
                   Natural Gas
                   Liquids, Inc.

                   Williams                DE          Common         2        1.00         1,000           100%
                   Midstream
                   Natural Gas
                   Liquids, Inc.

                   Williams                DE          Common         1        1.00         1,000           100%
                   Express, Inc.

Williams Energy    Williams Field          DE          Common         5        1.00         1,000           100%
Services, LLC      Services Group,
                   Inc.

                   Williams Alaska         DE            N/A         N/A        N/A          N/A            100%
                   Pipeline
                   Company, L.L.C.

                   Williams                DE            N/A         N/A        N/A          N/A            100%
                   Bio-Energy, LLC

                   Williams                DE          Common         3        1.00         1,000           100%
                   Merchant
                   Services
                   Company, Inc.

                   MAPCO Inc.              DE          Common         1        10.00         100            100%
</Table>

<PAGE>

<Table>
<S>                <C>               <C>             <C>          <C>        <C>        <C>            <C>
                   Williams                DE            N/A         N/A        N/A          N/A            100%
                   Production
                   Company, LLC

                   Williams GP LLC         DE            N/A         N/A        N/A          N/A           99.8%

                   NewGP***                                                                                99.8%

                   Williams Energy         DE           Units        N/A        N/A
                   Partners L.P.
                   Common
                   Subordinated                                                            757,193          5.5%
                                                                                          4,589,193        80.8%

                   Longhorn                DE          Common         3        $1.00        1,000           100%
                   Enterprises of
                   Texas, Inc.

                   Williams                DE            N/A         N/A        N/A          N/A            100%
                   Petroleum
                   Services, LLC

Williams Field     Black Marlin            TX          Common         16       0.10        44,800           100%
Services Group,    Pipeline Company
Inc.

                   WFS                     DE          Common         1        0.00          100            100%
                   Enterprises,
                   Inc.

                   WFS-Liquids             DE          Common         12       1.00          100            100%
                   Company

                   Williams Field          DE          Common         4        1.00         1,000           100%
                   Services Company

                   Williams Gas            DE          Common         2        1.00         1,000           100%
                   Processing
                   Company

                   Williams Gas            DE          Common         5        1.00         1,000           100%
                   Processing -
                   Wamsutter
                   Company
</Table>

<PAGE>

<Table>
<S>                <C>               <C>             <C>          <C>        <C>        <C>            <C>
                   Williams Gas            DE          Common         5        1.00         1,000           100%
                   Processing -
                   Mid Continent
                   Region Company

                   North Padre             DE          Common         1        1.00         1,000           100%
                   Island
                   Spindown, Inc.

                   WFS Gathering           DE            N/A         N/A        N/A          N/A            100%
                   Company, L.L.C.

                   Williams Field          DE            N/A         N/A        N/A          N/A            100%
                   Services-Matagorda
                   Offshore
                   Company, LLC

                   WFS-OCS                 DE          Common         2        1.00         1,000           100%
                   Gathering Co.

Williams           Williams Energy         DE          Common         7        1.00         1,000           100%
Merchant           Marketing &
Services           Trading Company
Company, Inc.

Williams Energy    Worthington             DE            N/A         N/A        N/A          N/A            100%
Marketing &        Generation,
Trading Company    L.L.C.

                   Memphis                 DE            N/A         N/A        N/A          N/A            100%
                   Generation,
                   L.L.C.

MAPCO Inc.         Gas Supply,             DE            N/A         N/A        N/A          N/A            100%
                   L.L.C.
</Table>

<PAGE>

<Table>
<S>                <C>               <C>             <C>          <C>        <C>        <C>            <C>
Williams Natural   Juarez Pipeline         DE          Common         2        1.00         1,000           100%
Gas Liquids, Inc.  Company

                   MAPL                    DE          Common         2        1.00         1,000           100%
                   Investments,
                   Inc.

                   WFS-NGL                 DE          Common         3        1.00         1,000           100%
                   Pipeline
                   Company, Inc.

                   Williams GP LLC         DE            N/A        N /A        N/A          N/A            0.2%

                   NewGP***                                                                                 0.2%

                   Williams Energy         DE           Units        N/A        N/A        322,501
                   Partners L.P.                                                          1,090,501
                   Common
                   Subordinated                                                                             2.3%
                                                                                                           19.2%

                   E-Birchtree,            DE          A Units        1         N/A          100            90%
                   LLC**

WFS-NGL Pipeline   WILPRISE                DE            N/A         N/A        N/A          N/A           37.35%
Company, Inc.      Pipeline
                   Company,
                   L.L.C.**

                   Tri-States NGL          DE            N/A         N/A        N/A          N/A           16.67%
                   Pipeline,
                   L.L.C.**

Juarez Pipeline    Rio Grande              TX            N/A         N/A        N/A          N/A            45%
Company            Pipeline
                   Company**

Williams           Baton Rouge             DE            N/A         N/A        N/A          N/A           27.5%
Midstream          Fractionators,
Natural Gas        L.L.C.**
Liquids, Inc.

Williams           Williams                 AK         Common         1        1.00         1,000           100%
Express, Inc., a   Express, Inc.
Delaware
corporation
</Table>

<PAGE>

<Table>
<S>                <C>               <C>             <C>          <C>        <C>        <C>            <C>
                   Williams                 DE           N/A         N/A        N/A          N/A            100%
                   Refining &
                   Marketing,
                   L.L.C.

                   Williams Alaska         AK          Common         1        1.00         1,000           100%
                   Petroleum, Inc.

Williams Alaska    Williams Alaska         AK            N/A         N/A        N/A          N/A            100%
Petroleum, Inc.    Air Cargo
                   Properties,
                   L.L.C.

Williams           Williams                DE            N/A         N/A        N/A          N/A            100%
Olefins, L.L.C.    Olefins
                   Feedstock
                   Pipelines,
                   L.L.C.

Williams           Williams                DE            N/A         N/A        N/A          N/A            100%
Refining &         Olefins, L.L.C.
Marketing, L.L.C.

                   Williams                DE            N/A         N/A        N/A          N/A            100%
                   Generating
                   Memphis, LLC

                   Williams                DE          Common         3        1.00         1,000           100%
                   Memphis
                   Terminal, Inc.

                   Williams                DE          Common         4        1.00         1,000           100%
                   Petroleum
                   Pipeline
                   Systems, Inc.

Williams           Williams                DE          Common         2        1.00         1,000           100%
Bio-Energy, LLC    Ethanol
                   Services, Inc.

                   Nebraska                KS            N/A         N/A        N/A          N/A           74.9%
                   Energy, L.L.C.**
</Table>

<PAGE>

<Table>
<S>                <C>               <C>             <C>          <C>        <C>        <C>            <C>
WFS Gathering      Goebel                  DE            N/A         N/A        N/A          N/A            100%
Company, L.L.C.    Gathering
                   Company, L.L.C.

WFS -Liquids       WFS-Offshore            DE          Common         5        0.00          100            100%
Company            Gathering
                   Company

                   WFS - Pipeline          DE          Common         3        0.00          100            100%
                   Company

                   HI-BOL Pipeline         DE          Common         2        0.00          100            100%
                   Company

Williams           Williams                DE            N/A         N/A        N/A          N/A            100%
Petroleum          Mid-South
Pipeline           Pipelines, LLC
Systems, Inc.

North Padre        Williams Gulf           DE            N/A         N/A        N/A          N/A            100%
Island Spindown,   Coast Gathering
Inc.               Company, LLC

Williams GP LLC    Williams Energy         DE           Units        N/A        N/A       7,830,924         100%
                   Partners L.P.
                   "B Units"

Williams Alaska    Williams Lynxs          AK            N/A         N/A        N/A          N/A            50%
Air Cargo          Alaska
Properties, LLC    Cargoport, LLC**

Longhorn           Longhorn                DE            N/A         N/A        N/A          N/A           31.49%
Enterprises of     Partners
Texas, Inc.        Pipeline, L.P.**
</Table>

<PAGE>
<Table>
<S>                <C>               <C>             <C>          <C>        <C>        <C>            <C>
Williams           Longhorn                DE            N/A         N/A        N/A          N/A           31.49%
Petroleum          Partners GP,
Services, LLC      L.L.C.**

                   Wiljet, L.L.C.**        AZ            N/A         N/A        N/A          N/A            50%
</Table>

* Each Pledgor is pledging all of the equity interests it owns or hereafter
acquires in each of its pledged Subsidiaries (except that Williams GP LLC is not
pledging the general partnership interests and incentive distribution rights it
owns in Williams Energy Partners L.P.). This column indicates the percent of
total equity interests in the pledged Subsidiary owned by this Pledgor as of the
date of this Agreement.

** Pledgor's pledge of the equity interests in this Subsidiary shall not be
effective until Pledgor has obtained all necessary consents in connection with
such pledge, as more fully described on Schedule XII of the L/C Credit
Agreement.

*** Such Pledgor's pledge of the equity interests in NewGP shall not be
effective until the occurrence of the formation of NewGP. Company covenants to
cause the formation of NewGP promptly following the execution of the Amendment.

<PAGE>

                                   SCHEDULE II
                               TO PLEDGE AGREEMENT

                               UCC FILING OFFICES

<Table>
<Caption>
                                                                     UCC Central Filing Offices of the
                                                                   Secretary of State for the Following
                            Entity                                               States
     ------------------------------------------------------ --------------------------------------------------
<S>           <C>                                           <C>
     A.       Juarez Pipeline Company                                              DE
     B.       Longhorn Enterprises of Texas, Inc.                                  DE
     C.       MAPCO Inc.                                                           DE
     D.       North Padre Island Spindown, Inc.                                    DE
     E.       The Williams Companies, Inc.                                         DE
     F.       WFS Gathering Company, L.L.C.                                        DE
     G.       WFS - Liquids Company                                                DE
     H.       WFS - NGL Pipeline Company, Inc.                                     DE
     I.       Williams Alaska Air Cargo Properties, LLC                            AK
     J.       Williams Alaska Petroleum, Inc.                                      AK
     K.       Williams Bio-Energy, LLC                                             DE
     L.       Williams Energy Marketing & Trading Company                          DE
     M.       Williams Energy Services, LLC                                        DE
     N.       Williams Express, Inc., a Delaware                                   DE
                corporation
     O.       Williams Field Services Group, Inc.                                  DE
     P.       Williams GP LLC                                                      DE
     Q.       Williams Merchant Services Company, Inc.                             DE
</Table>

<PAGE>
<Table>
<Caption>
                                                                     UCC Central Filing Offices of the
                                                                   Secretary of State for the Following
                            Entity                                               States
     ------------------------------------------------------ --------------------------------------------------
<S>           <C>                                           <C>
     R.       Williams Midstream Natural Gas Liquids, Inc.                         DE
     S.       Williams Natural Gas Liquids, Inc.                                   DE
     T.       Williams Olefins, L.L.C.                                             DE
     U.       Williams Petroleum Pipeline Systems, Inc.                            DE
     V.       Williams Petroleum Services, LLC                                     DE
     W.       Williams Refining & Marketing, L.L.C.                                DE
</Table>

<PAGE>

                                   SCHEDULE VI
                               TO PLEDGE AGREEMENT

                            FORM OF JOINDER AGREEMENT

                                JOINDER AGREEMENT
                          (name of joining subsidiary)

                               [---------, -----]

         [Joining Subsidiary], a [_________ corporation] (the "Subsidiary"),
hereby agrees with (a) CITIBANK, N.A., as collateral trustee for the benefit of
the holders of the Secured Obligations, (b) THE WILLIAMS COMPANIES, INC., a
Delaware corporation (the "Company") and (c) the other parties to the Security
Documents (as defined below), as follows:

         All capitalized terms used herein and not defined herein shall have the
meanings ascribed to such terms in the Amended and Restated Credit Agreement,
dated as of October 31, 2002, by and among The Williams Companies, Inc., the
various lenders as are or may become parties thereto; the Issuing Banks, and
Citicorp USA, Inc., as Agent and Collateral Agent (as further amended, modified,
supplemented, renewed, extended or restated from time to time, the "Credit
Agreement").

         In accordance with the terms of the [Security Agreement, Pledge
Agreement and Collateral Trust Agreement] (collectively, the "Security
Documents"), the Subsidiary hereby (a) [joins the Security Agreement as a party
thereto and assumes all the obligations of a Grantor (as defined in the Security
Agreement) under the Security Agreement], (b) [joins the Pledge Agreement as a
party thereto and assumes all the obligations of a Pledgor (as defined in the
Pledge Agreement) under the Pledge Agreement], (c) [joins the Collateral Trust
Agreement as a party thereto and assumes all the obligations of a Debtor (as
defined in the Collateral Trust Agreement) under the Collateral Trust
Agreement], (d) agrees to be bound by the provisions of the Security Documents
as if the Subsidiary had been an original party to the Security Documents, and
(e) confirms that, after joining the Security Documents as set forth above, the
representations and warranties set forth in each of the Credit Documents with
respect to the Subsidiary are true and correct in all material respects as of
the date of this Joinder Agreement.

         For purposes of notices under the Security Documents, the notice
address for the Subsidiary may be given to the Subsidiary by providing notice
addressed to [Subsidiary's Name] c/o The Williams Companies, Inc., in any manner
that notice is permitted to be given to the Company pursuant to the terms of the
Credit Agreement.

         [Schedule I and Schedule II to the Security Agreement are hereby
supplemented with the information set forth on Exhibit I to this Joinder
Agreement.]

         [Schedule I and Schedule II to the Pledge Agreement are hereby
supplemented with the information regarding the Subsidiary set forth on Exhibit
II to this Joinder Agreement.]

<PAGE>

         THIS WRITTEN AGREEMENT AND THE CREDIT DOCUMENTS REPRESENT THE FINAL
AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR,
CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.

         THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

         IN WITNESS WHEREOF this Joinder Agreement is executed and delivered as
of the ___ day of ____________,______.

                                            [Joining Subsidiary]

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

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00044-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00044-of-00352.parquet"}]]