Document:

EX-10.16

 Exhibit 10.16 
 CONSULTING AGREEMENT 
 THIS CONSULTING AGREEMENT (this
“Agreement”) is made effective as of May 1, 2011, by and between SurgiVision, Inc., a Delaware corporation (the “Company”), and Dr. Paul Bottomley (“Consultant”). 

The Company and Consultant hereby agree that Consultant will advise the Company on matters relating to the field of internal MRI coils
including advances in MRI hardware and software, in vivo and/or implantable MRI/RF safe probes, leads, electrodes, coils, catheters, and implantable interventional or diagnostic medical devices, such as implantable pulse generators, implantable
leads, neuromodulation and/or deep brain stimulation devices and related operational MRI compatible software and hardware (the “Field”), under the following terms and conditions: 

1. Consulting Services. Consultant’s responsibilities shall include the following activities (collectively referred to
as the “Services”): 
 a)   informing the Company of new developments in the Field,
subject to the provisions set forth in Section 2 below regarding non-disclosure under this Agreement; 
 b)
  advising the Company on the Company’s research and development projects relating to the Field; 

c)   advising the Company regarding development of prototype devices; 

d)   assisting with technical evaluation of the Company’s methods, processes, devices, products and
prototypes; 
 e) participating in scientific advisory committee meetings in relation to the Field, as the
Company may request, 
 f)   timely disclosing to the Company patentable ideas, conceptions, and/or
inventions resulting from services rendered under this Agreement (“Inventions”), whether conceived or reduced to practice by Consultant alone or with employees or other advisors or consultants to Company, and cooperating with the
Company to prepare, file and prosecute patent applications for Inventions as are deemed necessary by the Company to publish or protect Inventions, by patent or otherwise, and to vest title to Inventions in the Company or its nominees, their
successors or assigns; and 
 g)   cooperating with the Company to provide expert technical advice
based on Consultant’s know-how for commercializing products in the Field, upon reasonable request from Company. 
 The
Services shall be performed via telephone and correspondence and/or onsite at the Company’s facilities, and they may include meetings with personnel and other consultants at times and locations to be mutually agreed upon. In each instance,
Consultant shall perform the Services only upon Company’s request and after the scope of the Services has been approved by Company. 

  
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 2. Consultant’s Obligations to JHU. The parties acknowledge that the
Johns Hopkins University, its Schools and Divisions, and the Johns Hopkins Hospital and Health System and its affiliated hospitals (“JHU”) is not a party to this Agreement, which is a private contract between Consultant and the
Company. Therefore, JHU shall have no liability under this Agreement. The office address of Consultant may be identified in this Agreement for the purpose of convenient communication between the Company and Consultant. Consultant shall not use the
facilities, equipment, materials, funds, or resources owned or administered by JHU or located on any of the premises of JHU, excluding those such materials, resources, or space that the Company is granted use of by JHU via formal institutional
transactions, including rent of incubator space, hourly charges to the Company by JHU for services, and the like. Consultant shall not engage or employ students, trainees, post-doctoral fellows or other employees of JHU to provide services under
this Agreement. JHU policies and Consultant’s obligations to JHU shall govern and be afforded primacy in the event a conflict arises between such obligations and policies in this Agreement. Consultant shall not disclose under this Agreement:
(a) any invention, improvement, or other information that is proprietary to JHU and not generally available to the public without permission from the Johns Hopkins Technology Transfer Office, other than through formal institutional
transactions; or (b) unpublished results of, or unpublished data from, research or clinical activity conducted at, by, or on behalf of JHU, except where said unpublished results or data are posted or made openly available to the scientific
community, for example via electronic means, web-sites, on-line methods, on-line courses, and the like or except with the permission of Johns Hopkins Technology Transfer Office. Nothing in this Agreement shall in any way inhibit Consultant’s
ability to conduct research and other academic activities at, through, or on behalf of JHU, or to lecture upon, submit for publication, publish, or otherwise disclose the results of such activities, regardless of the sponsor or field of such
activities, during or at any time after the term of this Agreement. 
 3. Confidentiality. “Confidential
Information” means all oral, written, graphic, or physical information, disclosed to Consultant under this Agreement, not generally available to the public, including without limitation, information related to Company’s products,
processes, techniques, technology, formulae, research data, manufacturing methods, know-how, and trade secrets. All Confidential Information is and will be the exclusive property of Company and its affiliates. Consultant agrees not to use
Confidential Information for any purposes other than the performance of the Services. Nothing in this Agreement shall limit or be construed to limit Consultant’s right to use, disseminate, or publish any information that: (a) is or becomes
available to the public through no breach of this Agreement by Consultant; (b) was or is obtained by Consultant from a third party who had the legal right to disclose the information to Consultant; (c) is already in the possession of
Consultant at the time it is communicated to Consultant under this Agreement (or any predecessor agreement hereto); (d) was developed by Consultant independently of and without reference to any information communicated to Consultant under this
Agreement (or any predecessor agreement hereto); or (e) is required to be disclosed by law, government regulation, or court order. 
 4. Speaking, Non-Endorsement, and Publications. Consultant and Company agree that Company will not use Consultant’s name or likeness for the purpose of endorsement,

  
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promotion or marketing of the Company or its products. Consultant shall not under this Agreement speak with or to any third parties in any context or manner that could reasonably constitute
endorsement, promotion, or marketing of any product or technology. In speaking with or to any third parties or if citing Consultant in any context, format, or document, the following disclaimer must be presented: “Participation by
Dr. Bottomley [in the development of this product or as an advisor, consultant, speaker, or member of the Scientific Advisory Board] does not constitute or imply endorsement by the Johns Hopkins University or the Johns Hopkins Hospital
and Health System.” Consultant shall not publish, nor submit for publication, any work resulting from the Services provided hereunder without prior written approval from Company. If Consultant is listed as an author on any publication resulting
from performance of Services under this Agreement, the following form of acknowledgement must be added to the body of the publication: 
 a) If Consultant’s contributions to the work result wholly from the Services performed under this Agreement, Consultant’s position, address, and contact information will be listed as at the
Company, and JHU will not be mentioned in this reference (with the exception that, in the event that JHU’s name is included in the official mailing address of a biotechnology park and the Company’s premises are located therein, then
JHU’s name may be included as a legitimate mailing address); or 
 b) If Consultant’s contributions to
the work include materials arising out of both the Services performed under this Agreement and work done at JHU: “Dr. Bottomley is a paid consultant to SurgiVision, Inc. This arrangement has been approved by Johns Hopkins University in
accordance with its conflict of interest policies.” 
 5. No Conduct of Clinical Research. Consultant shall
be engaged by the Company to provide consulting services only as set forth in Section 1 above, and shall not direct or conduct clinical trials for or on behalf of the Company under this Agreement. Data provided to Consultant under this
Agreement will not include any identifying information regarding patients or human subjects and Consultant will not have access to this information, either directly or indirectly through coding systems that link de-identified data to individual
persons. 
 6. Ownership of Intellectual Property. All discoveries, inventions, improvements, or processes
(whether patentable or not) conceived or first reduced to practice by Consultant, whether alone or in collaboration with employees of or other consultants or advisors to the Company, resulting from the Services rendered under this Agreement will be
owned exclusively by the Company. Consultant shall assign to the Company all rights, title, and interest thereto and agrees to execute any documents attesting to the ownership thereof as requested by the Company. Consultant shall reasonably assist
the Company in obtaining or perfecting the Company’s rights, title, and interest, including, without limitation, the filing and prosecution of any patent applications. The Company shall have no rights under this Agreement to any publication,
invention, discovery, improvement, or other intellectual property whatsoever, whether or not publishable, patentable, or copyrightable, which is developed as a result of a program of research a) financed in whole or in part by funds provided by or
under the control of JHU, or b) using the facilities, resources, or employees of JHU (which for this purpose does not include any materials, resources, or space that the Company is granted use of by JHU via formal institutional transactions,
including rent of incubator space, hourly charges to the Company by JHU for services, and the like). 

  
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 7. Compensation. In consideration for Consultant’s Services hereunder, the Company shall pay
Consultant as follows: 
 a) $60,000 per year, payable in equal monthly installments; and 

b) Reasonable out-of-pocket expenses (upon presentation of appropriate receipts) incurred by Consultant, including all
travel, food and lodging in connection with the Services provided hereunder. 
 Payment shall be made within forty-five
(45) days of receipt of an invoice of itemized services and submission of appropriate vouchers and receipts as may be reasonably necessary to substantiate Consultant’s out-of-pocket expenses. 

Consultant shall not be paid vacation, holiday, or sick time during the term of the Agreement. In the event of premature termination of
this Agreement, the Company shall pay Consultant for the Services performed and expenses incurred through the date of termination. In the event of any overpayment by the Company, Consultant shall, upon submission by the Company of documents
evidencing such overpayment, remit the same to the Company within thirty (30) days after termination. Consultant shall also cooperate with Company in producing documents as evidence of overpayment of either party. 

8. Term and Termination. This Agreement shall be effective for a period of twenty-four (24) months, beginning
May 1, 2011 and ending April 30, 2013. 
 This Agreement may be extended by written agreement signed by both parties.
Either party may terminate this Agreement with or without cause upon giving thirty (30) days prior written notice to the other party. Termination or expiration of this Agreement shall not affect any rights or obligations which have accrued
prior thereto or in connection therewith. Any written agreements altering the term and/or conditions of this agreement may be subject to advance review and approval by the Johns Hopkins University School of Medicine’s Office of Policy
Coordination. 
 9. Compliance. In the performance of the Services hereunder, Consultant shall comply with all
applicable federal, state, and local laws, regulations, and guidelines. Consultant shall also comply with the Company’s policies while on the Company premises. 
 10. Independent Contractor. Consultant’s status under this Agreement is that of an independent contractor. Consultant shall not be deemed an employee, agent, partner, or joint venturer
of the Company for any purpose whatsoever, and Consultant shall have no authority to bind or act on behalf of the Company. This Agreement shall not entitle Consultant to participate in any benefit plan or program of Company. Consultant shall be
responsible for, and agrees to comply with, obligations under federal and state tax laws for payment of income and, if applicable, self-employment tax. 

  
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 11. Assignment. Consultant may not assign this Agreement or any interest
herein, or delegate any of his duties hereunder, to any third party without the Company’s prior written consent, which consent is within the Company’s sole discretion to grant or withhold. Any attempted assignment or delegation by
Consultant without such consent shall be null and void. 
 12. Debarment. Consultant warrants and represents that
Consultant has never been, is not currently, and during the term of this Agreement, will not become: 

a)   an individual who has been debarred by the U.S. Food and Drug Administration (“FDA”)
pursuant to 21 U.S.C. 335a (a) or (b) (“Debarred Individual”) from providing services in any capacity to a person that has an approved or pending drug product application, or an employer, employee or partner of a Debarred
Individual; or 
 b)   a corporation, partnership or association that has been debarred by the FDA
pursuant to 21 U.S.C. 335a (a) or (b) (“Debarred Entity”) from submitting or assisting in the submission of any abbreviated drug application, or an employee, partner, shareholder, member, subsidiary or affiliate of a
Debarred Entity. 
 Consultant further warrants and represents that no Debarred Individual or Debarred Entity has performed or
rendered, or will perform or ender, any services or assistance relating to activities taken pursuant to this Agreement. Consultant further warrants and represents that Consultant has no knowledge of any circumstances which may affect the accuracy of
the foregoing warranties and representations, including, but not limited to, FDA investigation of, or debarment proceedings against Consultant or any person or entity performing services or rendering assistance relating to activities taken pursuant
to this Agreement, and Consultant will immediately notify the Company if Consultant becomes aware of any such circumstances during the term of this Agreement. 
 13. Entire Agreement. This Agreement contains the entire understanding of the parties with respect to the matters herein contained and supersedes all previous agreements and undertakings with
respect thereto. This agreement may be modified only by written agreement signed by the parties. 
 This Agreement shall be
governed by and construed in accordance with the laws of the State of Maryland without regard to its conflicts of laws rules. 
  

[The next page is the signature page] 
 *** 

  
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 IN WITNESS WHEREOF, the parties have executed this Consulting Agreement as of the date(s)
set forth below, but with an effective date as of May 1, 2011. 
 COMPANY: 

 

			
	SurgiVision, Inc.
		
	By:	 	/s/ Kimble Jenkins
	Name:	 	Kimble Jenkins
	Title:	 	CEO 
		
	Date:	 	effective May 1, 2011

 Address: 
 One
Commerce Square 
 Suite 2550 
 Memphis,
TN 38103 
 CONSULTANT: 

			
	
	/s/ Dr. Paul Bottomley
	Dr. Paul Bottomley
		
	Date:	 	effective May 1, 2011

  
 6Exhibit 10.4

 EXHIBIT 10.4 
 Date=Grant Date 
  

			
	TO:	  	<@Name@>
		
	FROM:	  	Alan S. Armstrong
		
	SUBJECT:	  	2012 Performance-Based Restricted Stock Unit Award

 You have been selected to receive a performance-based restricted stock unit award to be paid if the Company exceeds the
Threshold goal for Total Shareholder Return, as established by the Committee, over the Performance Period. This award is subject to the terms and conditions of The Williams Companies, Inc. 2007 Incentive Plan, as amended and restated from time to
time, and the 2012 Performance-Based Restricted Stock Unit Agreement (the “Agreement”). 
 This award is granted to you in recognition
of your role as an employee whose responsibilities and performance are critical to the attainment of long-term goals. This award and similar awards are made on a selective basis and are, therefore, to be kept confidential. 

Subject to all of the terms of the Agreement, you will become entitled to payment of the award if you are an active employee of the Company on the third
anniversary of the grant date and if performance measures are certified for the three-year period beginning January 1 of the year in which this award is made to you. The adjustment and termination provisions associated with this award are
included in the Agreement. 
 If you have any questions about this award, you may contact a dedicated Fidelity Stock Plan Representative at
1-800-544-9354. 

 2012 PERFORMANCE-BASED RESTRICTED STOCK UNIT AGREEMENT 

THIS 2012 PERFORMANCE-BASED RESTRICTED STOCK UNIT AGREEMENT (this “Agreement”), which contains the terms and conditions
for the Restricted Stock Units (“Restricted Stock Units” or “RSUs”) referred to in the 2012 Performance-Based Restricted Stock Unit Award Letter delivered in hard copy or electronically to the Participant (“2012 Award
Letter”), is by and between THE WILLIAMS COMPANIES, INC., a Delaware corporation (the “Company”), and the individual identified on the last page hereof (the “Participant”). 

1. Grant of RSUs. Subject to the terms and conditions of The Williams Companies, Inc. 2007 Incentive Plan, as amended and restated from time to
time (the “Plan”), this Agreement, and the 2012 Award Letter, the Company hereby grants to the Participant an award (the “Award) of <@Num+C @> RSUs effective <@GrDt+C@> (the “Effective Date”). The
Award, which is subject to adjustment under the terms of this Agreement, gives the Participant the opportunity to earn the right to receive the number of shares of the Common Stock of the Company equal to the number of RSUs shown in the prior
sentence if the Target goal, as established by the Committee, is achieved by the Company over the Performance Period. These shares, together with any other shares that are payable under this Agreement, are referred to in the Agreement as
“Shares.” Until the Participant both becomes vested in the Shares under the terms of Paragraph 5 and is paid such Shares under the terms of Paragraph 6, the Participant shall have no rights as a stockholder of the Company with respect to
the Shares. 
 2. Incorporation of Plan and Acceptance of Documents. The Plan is hereby incorporated herein by reference and all
capitalized terms used herein which are not defined in this Agreement shall have the meaning set forth in the Plan. The Participant acknowledges that he or she has received a copy of, or has online access to, the Plan, and hereby automatically
accepts the RSUs subject to all the terms and provisions of the Plan and this Agreement. The Participant hereby further agrees that he or she has received a copy of, or has online access to, the Plan prospectus, as updated from time to time, and
hereby acknowledges his or her automatic acceptance and receipt of such prospectus electronically. 
 3. Committee Decisions and
Interpretations; Committee Discretion. The Participant hereby agrees to accept as binding, conclusive and final all actions, decisions and/or interpretations of the Committee, its delegates, or agents, upon any questions or other matters arising
under the Plan or this Agreement. 
 4. Performance Measures; Number of Shares Payable to the Participant. 

(a) Performance measures established by the Committee shall be based on targeted levels of both absolute and relative Total Shareholder
Return. The Committee establishes (i) “Threshold,” “Target” and “Stretch” goals for Total Shareholder Return (both for absolute and relative Total Shareholder Return) during the Performance Period and (ii) the
designated numbers of Shares that may be received by a Participant based upon the achievement of each such goal during the Performance Period, all as more fully described 

 
in Subparagraphs 4(b) through 4(c) below. The number of Shares that may be received by the Participant if the Target goal is reached is equal to the number of RSUs set forth in Paragraph 1 above.

 (b) The RSUs awarded to Participant and subject to this Agreement as reflected in Paragraph 1 above represents
Participant’s opportunity to earn the right to payment of an equal number of Shares (“Target Number of Shares”) upon (i) certification by the Committee that 100% of the Target goal for Total Shareholder Return for the Performance
Period has been met and (ii) satisfaction of all the other conditions set forth in Paragraph 5 below. 
 (c) Subject to the
Committee’s discretion as set forth in Subparagraph 4(d) below and to satisfaction of all other conditions set forth in Paragraph 5 below, the actual number of Shares earned by and payable to Participant upon certification of Total Shareholder
Return results and satisfaction of all other conditions set forth in Paragraph 5 below will be determined on a continuum ranging from 0% (at the Threshold goal) to 200% (at the Stretch goal) of the Target Number of Shares depending on the level of
Total Shareholder Return certified by the Committee at the end of the Performance Period. 
 (d) Notwithstanding (i) any
other provision of this Agreement or the Plan or (ii) certification by the Committee that targets for Total Shareholder Return above the Threshold goal have been achieved during the Performance Period, the Committee may in its sole and absolute
discretion reduce, but not below zero (0), the number of Shares payable to the Participant based on such factors as it deems appropriate, including but not limited to the Company’s performance. Accordingly, any reference in this Agreement to
Shares that (i) become payable, (ii) may be received by a Participant or (iii) are earned by a Participant, and any similar reference, shall be understood to mean the number of Shares that are received, payable or earned after any
such reduction is made. 
 5. Vesting; Legally Binding Rights. 
 (a) Notwithstanding any other provision of this Agreement, a Participant shall not be entitled to any payment of Shares under this Agreement unless and until such Participant obtains a legally binding
right to such Shares and satisfies applicable vesting conditions for such payment. 
 (b) Except as otherwise provided in
Subparagraphs 5(c) – 5(g) below and subject to the provisions of Subparagraph 4(d) above, the Participant shall vest in Shares under this Agreement only if and at the time that both of the following conditions are fully satisfied: 

(i) The Participant remains an active employee of the Company or any of its Affiliates on the third anniversary of the Effective Date
(the “Maturity Date”); and 
 (ii) The Committee certifies that the Company has met Total Shareholder Return targets
above the Threshold goal as defined by the Committee for the three-year performance period beginning January 1, 2012 (the “Performance 

 
Period”). Certification, if any, by the Committee for the Performance Period shall be made by the Maturity Date or as soon thereafter as is administratively practicable. 

(c) If a Participant dies, becomes Disabled (as defined below) or qualifies for Retirement (as defined below) prior to the Maturity Date
while an active employee of the Company or any of its Affiliates, at but not prior to the Maturity Date, and only to the extent and at the time that the Committee certifies that the performance measures for the Performance Period are satisfied under
Subparagraph 5(b)(ii) above, upon such certification, the Participant shall vest in that number of Shares the Participant might otherwise have received for the Performance Period in accordance with Subparagraphs 4(a) through 4(d) above prorated to
reflect that portion of the Performance Period prior to such Participant’s ceasing being an active employee of the Company and its Affiliates. The pro rata number of Shares in which the Participant may become vested in such case shall equal
that number determined by multiplying (i) the number of Shares the Participant might otherwise have received for the Performance Period in accordance with Subparagraphs 4(a) to 4(d) above times (ii) a fraction, the numerator of
which is the number of full and partial months in the period that begins the month following the month that contains the Effective Date and ends on (and includes) the date of the Participant ceases being an active employee of the Company and its
Affiliates, and the denominator of which is the total number of full and partial months in the period that begins the month following the month that contains the Effective Date and ends on (and includes) the Maturity Date. 

(d) As used in this Agreement, the terms “Disabled,” “qualify for Retirement,” “Separation from Service”
and “Affiliate” shall have the following respective meanings: 
 (i) A Participant shall be considered Disabled if
such Participant (A) is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of
not less than twelve (12) months, or (B) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve
(12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees of the Participant’s employer. Notwithstanding the forgoing, all determinations of
whether a Participant is Disabled shall be made in accordance with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and guidance thereunder. 

(ii) A Participant “qualifies for Retirement” only if such Participant experiences a Separation from Service (as defined in
(iii) below) after attaining age fifty-five (55) and completing at least three (3) years of service with the Company or any of its Affiliates. 
 (iii) “Separation from Service” means a Participant’s termination or deemed termination from employment with the Company and its Affiliates (as defined in (iv) below). For purposes of
determining whether a Separation from Service has 

 
occurred, the employment relationship is treated as continuing intact while the Participant is on military leave, sick leave or other bona fide leave of absence if the period of such leave does
not exceed six (6) months, or if longer, so long as the Participant retains a right to reemployment with his or her employer under an applicable statute or by contract. For this purpose, a leave of absence constitutes a bona fide leave of
absence only if there is a reasonable expectation that the Participant will return to perform services for his or her employer. If the period of leave exceeds six (6) months and the Participant does not retain a right to reemployment under an
applicable statute or by contract, the employment relationship will be deemed to terminate on the first date immediately following such six (6) month period. Notwithstanding the foregoing, if a leave of absence is due to any medically
determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than six (6) months, and such impairment causes the Participant to be unable to perform the duties
of the Participant’s position of employment or any substantially similar position of employment, a twenty-nine (29) month period of absence shall be substituted for such six (6) month period. For purposes of this Agreement, a
Separation from Service occurs at the date as of which the facts and circumstances indicate either that, after such date: (A) the Participant and the Company reasonably anticipate the Participant will perform no further services for the Company
and its Affiliates (whether as an employee or an independent contractor or (B) that the level of bona fide services the Participant will perform for the Company and its Affiliates (whether as an employee or independent contractor) will
permanently decrease to no more than twenty (20%) of the average level of bona fide services performed over the immediately preceding thirty-six (36) month period or, if the Participant has been providing services to the Company and its
Affiliates for less than thirty-six (36) months, the full period over which the Participant has rendered services, whether as an employee or independent contractor. The determination of whether a Separation from Service has occurred shall be
governed by the provisions of Treasury Regulation § 1.409A-1, as amended, taking into account the objective facts and circumstances with respect to the level of bona fide services performed by the Participant after a certain date. 

(iv) As used in this Agreement, “Affiliate” means all persons with whom the Company would be considered a single employer under
Section 414(b) of the Code, and all persons with whom such person would be considered a single employer under Section 414(c) of the Code. 
 (e) If a Participant experiences a Separation from Service prior to the Maturity Date and within two years following a Change in Control, either voluntarily for Good Reason or involuntarily (other
than due to Cause), the Participant shall vest in that number of Shares equal to the number of Shares that might otherwise be received by the Participant upon achievement of the Target goal. 

(f) If the Participant experiences an involuntary Separation from Service prior to the Maturity Date and the Participant either receives
benefits under a severance pay plan or program maintained by the Company or receives benefits under a separation agreement 

 
with the Company, at but not prior to the Maturity Date and only to the extent the Committee certifies that the performance measures for the Performance Period are satisfied under Subparagraph
5(b)(ii) above, the Participant shall, on the date of such certification, become vested in that number of Shares the Participant might otherwise have received for the Performance Period in accordance with Paragraph 4 above pro rated to reflect that
portion of the Performance Period prior to the Participant’s ceasing being an active employee of the Company and its Affiliates. The pro rata number of Shares which may be payable to the Participant on but not prior to the Maturity Date in such
case shall equal that number determined by multiplying (i) the number of Shares the Participant might otherwise have received for the Performance Period in accordance with Paragraph 4 above times (ii) a fraction, the numerator of
which is the number of full and partial months in the period that begins the month following the month that includes the Effective Date and ends on (and includes) the date the Participant ceases being an active employee of the Company and its
Affiliates, and the denominator of which is the number of full and partial months in the period that begins the month following the month that contains the Effective Date and ends on (and includes) the Maturity Date. 

(g) If (i) the Participant experiences an involuntary Separation from Service prior to the Maturity Date due to a sale of a business
or the outsourcing of any portion of a business, and (ii) the Company or any of its Affiliates fails to make an offer of comparable employment, as defined a severance plan or program maintained by the Company, to the Participant, then at the
time and to the extent the Committee certifies that the performance measures for the Performance Period are satisfied under Subparagraph 5(b)(ii) above, upon such certification, the Participant shall become vested in that number of Shares the
Participant might otherwise have received for the Performance Period in accordance with Paragraph 4 above pro rated to reflect that portion of the Performance Period prior to the Participant’s ceasing being an active employee of the Company and
its Affiliates. The pro rata number of Shares in which the Participant may become vested on, but not prior to, the Maturity Date in such case shall equal that number of Shares determined by multiplying (i) the number of Shares the Participant
might otherwise have received for the Performance Period in accordance with Paragraph 4 above times (ii) a fraction, the numerator of which is the number of full and partial months in the period that begins the month following the month
that contains the Effective Date and ends on (and includes) the date the Participant ceases being an active employee of the Company and its Affiliates, and the denominator of which is the total number of full and partial months in the period that
begins the month following the month that contains the Effective Date and ends on (and includes) the Maturity Date. or purposes of this Subparagraph 5(g), a Termination of Affiliation shall constitute an involuntary Separation from Service.

 6. Payment of Shares. 
  

	 	(a)	 (i) The payment date for all Shares which a Participant becomes vested pursuant to Subparagraph 5(e) above shall be the thirtieth (30th) day after such Participant’s Separation from Service,
provided that if the Participant was a “key employee” within the meaning of Section 409A(a)(B)(i) of the Code immediately prior to his or her Separation from Service, payment shall not be made sooner than six (6) months
following the date of such Separation from Service. 

 (ii) For purposes of this Subparagraph 6(a), “key employee” means an employee
designated on an annual basis by the Company as of December 31 (the “Key Employee Designation Date”) as an employee meeting the requirements of Section 416(i) of Code utilizing the definition of compensation under Treasury
Regulation § 1.415(c)-2(d)(2). A Participant designated as a “key employee” shall be a “key employee” for the entire twelve (12) month period beginning on April 1 following the Key Employee Designation Date.

 (b) The payment date for all Shares in which the Participant becomes vested pursuant to Paragraph 5 above, other than
Subparagraph 5(e) (as to which the payment date is determined in accordance with Subparagraph 6(a) above), shall be the calendar year containing the Maturity Date. 
 (c) Upon conversion of RSUs into Shares under this Agreement, such RSUs shall be cancelled. Shares that become payable under this Agreement will be paid by the Company by the delivery to the Participant,
or the Participant’s beneficiary or legal representative, one or more certificates (or other indicia of ownership) representing Shares of Williams Common Stock equal in number to the number of Shares otherwise payable under this Agreement less
the number of Shares having a Fair Market Value, as of the date the withholding tax obligation arises, equal to the minimum statutory withholding requirements. Notwithstanding the foregoing, to the extent permitted by Section 409A of the Code
and the guidance thereunder, if federal employment taxes become due upon the Participant’s becoming entitled to payment of Shares, the number of Shares necessary to cover minimum statutory withholding requirements may, in the Company’s
discretion, be used to satisfy such requirements upon such entitlement. 
 7. Other Provisions. 

(a) The Participant understands and agrees that payments under this Agreement shall not be used for, or in the determination of, any
other payment or benefit under any continuing agreement, plan, policy, practice or arrangement providing for the making of any payment or the provision of any benefits to or for the Participant or the Participant’s beneficiaries or
representatives, including, without limitation, any employment agreement, any change of control severance protection plan or any employee benefit plan as defined in Section 3(3) of ERISA, including, but not limited to qualified and
non-qualified retirement plans. 
 (b) The Participant agrees and understands that, subject to the limit expressed in clause
(iii) of the following sentence, stock certificates (or other indicia of ownership) issued may be held as collateral for monies he/she owes to Company or any of its Affiliates, including but not limited to personal loan(s), Company credit card
debt, relocation repayment obligations or benefits from any plan that provides for pre-paid educational assistance. In addition, the Company may accelerate the time or schedule of a payment of vested Shares and/or deduct from any payment of Shares
to the Participant under this Agreement, or to his or her beneficiaries in the case of the Participant’s death, that number of Shares having a Fair Market Value at the date of such deduction to the amount of such debt as satisfaction of any
such debt, provided that (i) such debt is 

 
incurred in the ordinary course of the employment relationship between the Company or any of its Affiliates and the Participant, (ii) the aggregate amount of any such debt-related collateral
held or deduction made in any taxable year of the Company with respect to the Participant does not exceed $5,000, and (iii) the deduction of Shares is made at the same time and in the same amount as the debt otherwise would have been due and
collected from the Participant. 
 (c) Except as provided in Subparagraphs 5(c) through 5(g) above, in the event that the
Participant’s employment with the Company or any of its Affiliates terminates prior to the Maturity Date, RSUs subject to this Agreement and any right to Shares issuable hereunder shall be forfeited. 

(d) The Participant acknowledges that this Award and similar awards are made on a selective basis and are, therefore, to be kept
confidential. 
 (e) RSUs, Shares and the Participant’s interest in RSUs and Shares, may not be sold, assigned,
transferred, pledged or otherwise disposed of or encumbered at any time prior to both (i) the Participant’s becoming vested in Shares and (ii) payment of Shares under this Agreement. 

(f) If the Participant at any time forfeits any or all of the RSUs pursuant to this Agreement, the Participant agrees that all of the
Participant’s rights to and interest in such RSUs and in Shares issuable thereunder shall terminate upon forfeiture without payment of consideration. 
 (g) The Committee shall determine whether an event has occurred resulting in the forfeiture of the RSUs and any Shares issuable thereunder in accordance with this Agreement, and all determinations of the
Committee shall be final and conclusive. 
 (h) With respect to the right to receive payment of Shares under this Agreement,
nothing contained herein shall give the Participant any rights that are greater than those of a general creditor of the Company. 
 (i) The obligations of the Company under this Agreement are unfunded and unsecured. Each Participant shall have the status of a general creditor of the Company with respect to amounts due, if any, under
this Agreement. 
 (j) The parties to this Agreement intend that this Agreement meet the requirements of Section 409A of
the Code and recognize that it may be necessary to modify this Agreement and/or the Plan to reflect guidance under Section 409A of the Code issued by the Internal Revenue Service. Participant agrees that the Committee shall have sole discretion
in determining (i) whether any such modification is desirable or appropriate and (ii) the terms of any such modification. 
 (k) The Participant hereby automatically becomes a party to this Agreement whether or not he or she accepts the Award electronically or in writing in accordance with procedures of the Committee, its
delegates or agents. 

 (l) Nothing in this Agreement or the Plan shall interfere with or limit in any way the
right of the Company or an Affiliate to terminate the Participant’s employment or service at any time, nor confer upon the Participant the right to continue in the employ of the Company and/or Affiliate. 

(m) The Participant hereby acknowledges that nothing in this Agreement shall be construed as requiring the Committee to allow a Domestic
Relations Order with respect to this Award. 
 8. Notices. All notices to the Company required hereunder shall be in writing and
delivered by hand or by mail, addressed to The Williams Companies, Inc., One Williams Center, Tulsa, Oklahoma 74172, Attention: Stock Administration Department. Notices shall become effective upon their receipt by the Company if delivered in the
foregoing manner. To direct the sale of any Shares issued under this Agreement, contact Fidelity at http://netbenefits.fidelity.com or by telephone at 800-544-9354. 
 9. Forfeiture and Clawback. Notwithstanding any other provision of the Plan or this Agreement to the contrary, by accepting the Award represented by this Agreement, the Participant acknowledges
that any incentive-based compensation paid to the Participant hereunder may be subject to recovery by the Company under any clawback policy that the Company may adopt from time to time, including without limitation any policy that the Company may be
required to adopt under Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the rules and regulations of the U.S. Securities and Exchange Commission thereunder or the requirements of any national securities exchange
on which the Shares may be listed. The Participant further agrees to promptly return any such incentive-based compensation which the Company determines it is required to recover from you under any such clawback policy. 

10. Tax Consultation. You understand you will incur tax consequences as a result of acquisition or disposition of the Shares. You agree to consult
with any tax consultants you think advisable in connection with the acquisition of the Shares and and acknowledge that you are not relying, and will not rely, on the Company for any tax advice. 

 

			
	THE WILLIAMS COMPANIES, INC.
		
	By:	 	 
		 	 Alan S. Armstrong
 President
and CEO

 Participant: <@Name 
 SSN: <@SSN @>

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