Document:

exv4w7

 

EXHIBIT 4.7

Series B Warrant No. B-1

 

Viseon, inc.

(Formerly RSI Systems, Inc.)

Common Stock Purchase Warrant

DATED AS OF AUGUST 22, 2005

 

     THIS WARRANT AND ANY SECURITIES ACQUIRED UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAW OF ANY STATE AND MAY
NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN APPLICABLE
EXEMPTION TO THE REGISTRATION REQUIREMENTS OF SUCH ACT AND SUCH LAWS. THIS WARRANT AND SUCH
SECURITIES MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF EXCEPT IN COMPLIANCE WITH THE
CONDITIONS SPECIFIED IN THIS WARRANT AND IN THE REGISTRATION RIGHTS AGREEMENT, DATED THE DATE
HEREOF, BY AND BETWEEN VISEON, INC f/k/a RSI SYSTEMS, INC., AND THE HOLDERS SPECIFIED THEREIN.

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Viseon, Inc.

(Formerly RSI Systems, Inc.)

Common Stock Purchase Warrant

Void on August 21, 2010

			
	 	 	 
	Series B Warrant
	 	Las Vegas, Nevada
	 	 	 
	No. B-1
	 	August 22, 2005

          VISEON, INC. (the “Company”), a Nevada corporation, for value received, hereby certifies that
                               or registered assigns (the “Holder”), is entitled to purchase from the
Company                                shares (the “Warrant Shares”) of duly
authorized, validly issued, fully paid and nonassessable common stock, par value $0.01 per share,
of the Company (the “Common Stock”) at the purchase price per share of one dollar and fifteen
cents ($1.15) per share of Common Stock, (the “Warrant Price”), at any time or from time to
time prior to 5:00 p.m. Central Standard time, on August 21, 2010 (the “Expiration Date”), all
subject to the terms, conditions and adjustments set forth below in this Warrant.

          This Warrant is the Warrant (the term “Warrant”, shall include any such warrants issued in
substitution therefor) originally issued in connection with the Purchase Agreement, dated as of the
date hereof, by and among the Company and the Holder (as amended or otherwise modified from time to
time, the “Purchase Agreement”). The Warrant originally so issued evidences the right to purchase
a number of shares of Common Stock equal to the Warrant Shares, subject to adjustment as provided
herein. Certain capitalized terms used in this Warrant are defined in Section 10; references to an
“Exhibit” are, unless otherwise specified, to one of the Exhibits attached to this Warrant and
references to a “Section” are, unless otherwise specified, to one of the Sections of this Warrant.

1. Exercise of Warrant.

     1.1 Manner of Exercise. This Warrant may be exercised by the Holder, in whole or in
part, during normal business hours on any Business Day, by surrender of this Warrant to the Company
at its principal office, accompanied by the Form of Subscription in substantially the form attached
as Exhibit A to this Warrant (or a reasonable facsimile thereof) duly executed by the Holder and
accompanied by payment, in cash, by wire transfer, certified or official bank check payable to the
order of the Company in the amount obtained by multiplying (a) the number of shares of Common Stock
(adjusted as provided in Section 2 ) designated in such Form of

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Subscription by (b) the Warrant Price then in effect, and such Holder shall thereupon be
entitled to receive such number of duly authorized, validly issued, fully paid and nonassessable
shares of Common Stock (or Other Securities).

     1.2 When Exercise Effective. Each exercise of this Warrant shall be deemed to have
been effected immediately prior to the close of business on the Business Day on which this Warrant
shall have been surrendered to the Company together with all applicable payments as provided in
Section 1.1. At such time the Person or Persons in whose name or names any certificate or
certificates for shares of Common Stock (or Other Securities) shall be issuable upon such exercise,
as provided in Section 1.3, shall be deemed to have become the Holder or holders of record thereof.

     1.3 Delivery of Stock Certificates, etc. As soon as practicable after each exercise
of this Warrant, in whole or in part, and in any event within three Business Days thereafter, the
Company at its expense (including the payment by it of any applicable transfer taxes) will cause to
be issued in the name of and delivered to the Holder hereof or, subject to Section 9, as such
Holder (upon payment by such Holder of any applicable transfer taxes) may direct,

          (a) a certificate or certificates for the number of duly authorized, validly issued, fully
paid and nonassessable shares, including, if the Company so elects, fractional shares, of Common
Stock (or Other Securities) to which such Holder shall be entitled upon such exercise plus, at the
discretion of the Company, in lieu of any fractional share to which such Holder would otherwise be
entitled, cash in an amount equal to the same fraction of the Closing Price per share on the
Business Day next preceding the date of such exercise, and

          (b) in case such exercise is in part only, a new Warrant or Warrants of like tenor, calling in
the aggregate on the face or faces thereof for the number of shares of Common Stock equal (without
giving effect to any adjustment thereof) to the number of such shares called for on the face of
this Warrant minus the number of such shares designated by the Holder upon such exercise as
provided in Section 1.1.

     In lieu of physical delivery of the shares being issued upon exercise, provided that the
Company’s transfer agent is participating in the Depository Trust Company (“DTC”) Fast Automated
Securities Transfer (FAST) program, upon request of the Holder and in compliance with the
provisions hereof, the Company shall use its reasonable efforts to cause its transfer agent to
electronically transmit the shares being issued to the Holder by crediting the account of the
Holder’s Prime Broker with DTC through its Deposit Withdrawal Agent Commission system. The time
period for delivery described herein shall apply to the electronic transmittals described herein.

     1.4 Company to Reaffirm Obligations. The Company will, at the time of each exercise
of this Warrant, upon the request of the Holder, acknowledge in writing its continuing obligation
to afford to such Holder all rights (including, without limitation, any rights to registration of
the shares of Common Stock or Other Securities issued upon such exercise) to which such Holder
shall continue to be entitled after such exercise in accordance with the terms of this Warrant,
provided that if the Holder shall fail to make any such request, such failure shall not affect the
continuing obligation of the Company to afford such rights to such Holder.

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     1.5 Payment by Application of Shares Otherwise Issuable. Upon the occurrence of
certain events as set forth in the Registration Rights Agreement of even date herewith, the Holder
may be entitled, from time to time and at various times to a cashless exercise of this Warrant in
the manner and on the terms and conditions as set forth in Section 2(h) of the Registration Rights
Agreement.

2. Adjustment of Common Stock Issuable Upon Exercise.

          The Warrant Price and the Warrant Shares purchasable pursuant to each Warrant shall be subject
to adjustment from time to time as hereinafter set forth in this Section 2:

     2.1 Dividends and Subdivisions. In case, prior to the expiration of this Warrant by
exercise or by its terms, the Company shall issue any shares of its Common Stock as a stock
dividend or subdivide the number of outstanding shares of its Common Stock into a greater number of
shares, then in either of such cases, the then applicable Warrant Price per Warrant Share
purchasable pursuant to this Warrant in effect at the time of such action shall be proportionately
reduced and the number of Warrant Shares at that time purchasable pursuant to this Warrant shall be
proportionately increased; and conversely, in the event the Company shall reduce the number of
outstanding shares of Common Stock by combining such shares into a smaller number of shares, then,
in such case, the then applicable Warrant Price per Warrant Share purchasable pursuant to this
Warrant in effect at the time of such action shall be proportionately increased and the number of
Warrant Shares at that time purchasable pursuant to this Warrant shall be proportionately
decreased. If the Company shall, at any time during the life of this Warrant, declare a dividend
payable in cash on its Common Stock and shall at substantially the same time offer to its
stockholders a right to purchase new Common Stock from the proceeds of such dividend or for an
amount substantially equal to the dividend, all Common Stock so issued shall, for the purpose of
this Warrant, be deemed to have been issued as a stock dividend. Any dividend paid or distributed
upon the Common Stock in stock of any other class of securities convertible into shares of Common
Stock shall be treated as a dividend paid in Common Stock to the extent that shares of Common Stock
are issuable upon conversion thereof.

     2.2 Recapitalizations, Mergers, Etc. In case, prior to the expiration of this Warrant
by exercise or by its terms, the Company shall be recapitalized by reclassifying its outstanding
Common Stock, (other than a change in par value to no par value), or the corporation or a successor
corporation shall consolidate or merge with or convey all or substantially all of its or of any
successor corporation’s property and assets to any other corporation or corporations (any such
other corporations being included within the meaning of the term “successor corporation”
hereinbefore used in the event of any consolidation or merger of any such other corporation with,
or the sale of all or substantially all of the property of any such other corporation to, another
corporation or corporations), then, as a condition of such recapitalization, consolidation, merger
or conveyance, lawful and adequate provision shall be made whereby the holder of this Warrant shall
thereafter have the right to purchase, upon the basis and on the terms and conditions specified in
this Warrant, in lieu of the Warrant Shares theretofore purchasable upon the exercise of this
Warrant, such shares of stock, securities or assets as may be issued or payable with respect to, or
in exchange for, the number of Warrant Shares theretofore purchasable upon the exercise of this
Warrant, had such recapitalization, consolidation, merger, or conveyance not taken place; and in
any such event, the rights of the Warrant Holder to any adjustment in the

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number of Warrant Shares purchasable upon the exercise of this Warrant, as herein provided,
shall continue and be preserved in respect of any stock which the Warrant Holder becomes entitled
to purchase.

     2.3 Sale of Property, Liquidation, Etc. In case the Company at any time while this
Warrant shall remain unexpired and unexercised shall sell all or substantially all of its property
or dissolve, liquidate, or wind up its affairs, lawful provision shall be made as part of the terms
of any such sale, dissolution, liquidation or winding up, so that the holder of this Warrant may
thereafter receive upon exercise hereof in lieu of each Warrant Share that it would have been
entitled to receive, the same kind and amount of any securities or assets as may be issuable,
distributable or payable upon any such sale, dissolution, liquidation or winding up with respect to
each share of Common Stock of the Company, provided, however, that in any case of any such
voluntary sale or of dissolution, liquidation or winding up, the right to exercise this Warrant
shall terminate on a date fixed by the Company; such date so fixed to be not earlier than 5:00
p.m., Central Standard Time, on the forty-fifth day following the date on which a notice of such
termination of the right to exercise this Warrant has been given, by any method set forth in
Section 13, to the registered holder of this Warrant at its address as it appears on the books of
the Company.

     2.4 Issuance of Additional Shares. If the Company, at any time while this Warrant is
outstanding:

          (i) issues or sells, or is deemed to have issued or sold, any Common Stock, other than
Excluded Shares;

          (ii) in any manner grants, issues or sells any rights, options, warrants, options to subscribe
for or to purchase Common Stock or any stock or other securities convertible into or exchangeable
for Common Stock that, upon conversion or exchange, would not constitute Excluded Shares (such
rights, options or warrants being herein called “Options” and such convertible or exchangeable
stock or securities being herein called “Convertible Securities”); or

          (iii) in any manner issues or sells any Convertible Securities that, upon conversion, would
not constitute Excluded Shares;

for (a) with respect to Section 2.4(i), above, a price per share, or

     (b) with respect to Sections 2.4(ii) or 2.4(iii), above, a price per share (including the
consideration per share paid on issuance of the Option or Convertible Securities) for which Common
Stock issuable upon the exercise of such Options or upon conversion or exchange of such Convertible
Securities is

less than the Warrant Price then in effect immediately prior to such issuance, sale or grant, then,
immediately after such issuance, sale or grant, the Warrant Price then in effect shall be reduced
concurrently with such issue to the amount of the consideration per share received by the Company
for such issue or deemed issue of the additional shares of Common Stock; provided that if
such issuance or deemed issuance was without consideration, then the Corporation shall be deemed to
have received an aggregate of $.01 of consideration for all such additional shares

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of Common Stock issued or deemed to be issued. No modification of the issuance terms shall be made
upon the actual issuance of such Common Stock upon exercise, conversion or exchange of such Options
or Convertible Securities. If there is a change at any time in (i) the exercise price provided for
in any Options, (ii) the additional consideration, if any, payable upon the issuance, conversion or
exchange of any Convertible Securities or (iii) the rate at which any Convertible Securities are
convertible into or exchangeable for Common Stock, then immediately after such change the Warrant
Price then in effect shall be adjusted to the Warrant Price which would have been in effect at such
time had such Options or Convertible Securities still outstanding provided for such changed
exercise price, additional consideration or changed conversion rate, as the case may be, at the
time initially granted, issued or sold; provided that no adjustment shall be made if such
adjustment would result in an increase of the Warrant Price then in effect..

     2.5 Computation of Consideration. For the purposes of this Section 2, the
consideration for the issue or sale of any securities of the Company shall, irrespective of the
accounting treatment of such consideration,

          (i) insofar as it consists of cash, be computed at the net amount of cash received by the
Company, without deducting any expenses paid or incurred by the Company or any commissions or
compensations paid or concessions or discounts allowed to underwriters, dealers or others
performing similar services in connection with such issue or sale, and

          (ii) insofar as it consists of property (including securities) other than cash, be computed at
the fair value thereof at the time of such issue or sale, as determined in good faith by the Board
of Directors of the Company,

     2.6 Minimum Adjustment of Warrant Quantity. If the amount of any adjustment of the
number Warrant Shares required pursuant to this Section 2 would be less than one tenth (1/10) of
one percent (1%) of the number Warrant Shares in effect under this Warrant at the time such
adjustment is otherwise so required to be made, such amount shall be carried forward and adjustment
with respect thereto shall be made at the time of and together with any subsequent adjustment
which, together with such amount and any other amount or amounts so carried forward, shall
aggregate at least one tenth (1/10) of one percent (1%) of such number of Warrant Shares. All
calculations under this Warrant shall be made to the nearest one-hundredth of a share.

     2.7 Abandoned Dividend or Distribution. If the Company shall take a record of the
holders of its Common Stock for the purpose of entitling them to receive a dividend or other
distribution (which results in an adjustment to the Warrant Shares under the terms of this Warrant)
and shall, thereafter, and before such dividend or distribution is paid or delivered to
shareholders entitled thereto, legally abandon its plan to pay or deliver such dividend or
distribution, then any adjustment made to the Warrant Shares by reason of the taking of such record
shall be reversed, and any subsequent adjustments, based thereon, shall be recomputed.

     2.8 Number of Warrant Shares. Simultaneously with any adjustment to the Warrant Price
pursuant to this Section 2, the number of Warrant Shares that may be purchased upon exercise of
this Warrant shall be increased or decreased proportionately, so that after such

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adjustment the aggregate Warrant Price payable hereunder for the adjusted number of Warrant
Shares shall be the same as the aggregate Warrant Price in effect immediately prior to such
adjustment.

3. Other Dilutive Events. In case an event shall occur as to which the provisions of
Section 2 are not strictly applicable but the failure to make any adjustment would not fairly
protect the purchase rights represented by this Warrant in accordance with the essential intent and
principles of such Section, then, in each such case, the Company shall appoint, at the Company’s
expense, a firm of independent certified public accountants of recognized national standing (which
may be the regular auditors of the Company), which shall give their opinion upon the adjustment, if
any, on a basis consistent with the essential intent and principles established in Sections 2,
necessary to preserve, without dilution, the purchase rights represented by this Warrant. Upon
receipt of such opinion, the Company will promptly mail a copy thereof to the Holder and shall make
the adjustments described therein.

4. No Impairment. The Company will not, by amendment of its articles of incorporation or
through any consolidation, merger, reorganization, transfer of assets, dissolution, issue or sale
of securities or any other voluntary action, avoid or seek to avoid the observance or performance
of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out
of all such terms and in the taking of all such action as may be necessary or appropriate in order
to protect the rights of the Holder against impairment. Without limiting the generality of the
foregoing, the Company (a) shall not permit the par value of any shares of stock receivable upon
the exercise of this Warrant to exceed the amount payable therefor upon such exercise, (b) will
take all such action as may be necessary or appropriate in order that the Company may validly and
legally issue fully paid and nonassessable shares of stock, free from all taxes, liens, security
interests, encumbrances, preemptive rights and charges on the exercise of the Warrants from time to
time outstanding, (c) will not take any action which results in any adjustment of the number of
Warrant Shares if the total number of shares of Common Stock (or Other Securities) issuable after
the action upon the exercise of all of the Warrants would exceed the total number of shares of
Common Stock (or Other Securities) then authorized by the Company’s certificate of incorporation
and available for the purpose of issue upon such exercise, and (d) will not issue any capital stock
of any class which is preferred as to dividends or as to the distribution of assets upon voluntary
or involuntary dissolution, liquidation or winding-up, unless the rights of the holders thereof
shall be limited to a fixed sum or percentage of par value or a sum determined by reference to a
formula based on a published index of interest rates, an interest rate publicly announced by a
financial institution or a similar indicator of interest rates in respect of participation in
dividends and to a fixed sum or percentage of par value in any such distribution of assets.

5. Accountants’ Report as to Adjustments. In each case of any adjustment or readjustment
in the shares of Common Stock (or Other Securities) issuable upon the exercise of this Warrant, the
Company at its expense will promptly compute such adjustment or readjustment in accordance with the
terms of this Warrant and cause independent certified public accountants of recognized national
standing (which may be the regular auditors of the Company) selected by the Company to verify such
computation (other than any computation of the fair value of property as determined in good faith
by the Board of Directors of the Company) and prepare a report setting forth such adjustment or
readjustment and showing in reasonable detail

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the method of calculation thereof and the facts upon which such adjustment or readjustment is
based, including a statement of (a) the consideration received or to be received by the Company for
any additional shares of Common Stock issued or sold or deemed to have been issued, (b) the number
of shares of Common Stock outstanding or deemed to be outstanding, and (c) the number of Warrant
Shares in effect under this Warrant immediately prior to such issue or sale and as adjusted and
readjusted (if required by Section 2) on account thereof. The Company will forthwith mail a copy
of each such report to each Holder of a Warrant and will, upon the written request at any time of
any Holder of a Warrant, furnish to such Holder a like report setting forth the number of Warrant
Shares under this Warrant at the time in effect and showing in reasonable detail how it was
calculated. The Company will also keep copies of all such reports at its principal office and will
cause the same to be available for inspection at such office during normal business hours by any
Holder of a Warrant or any prospective purchaser of a Warrant designated by the Holder thereof.

6. Financial and Business Information

     6.1 Filings. During any period when the Company is a Public Company, the Company will
file on or before the required date all required regular or periodic reports (pursuant to the
Exchange Act) with the Commission and will deliver to the Holder promptly upon their becoming
available one copy of each report, notice or proxy statement sent by the Company to its
stockholders generally, and of each regular or periodic report (pursuant to the Exchange Act) and
any registration statement, prospectus or written communication (other than transmittal letters)
(pursuant to the Securities Act), filed by the Company with (i) the Commission or (ii) any
securities exchange on which shares of Common Stock are listed.

     6.2 Listing of Shares. The Company shall promptly secure the listing of the shares of
Common Stock issuable upon exercise of this Warrant upon each national securities exchange or
automated quotation system, if any, upon which shares of Common Stock are then listed (subject to
official notice of issuance upon exercise of this Warrant) and shall maintain, so long as any other
shares of Common Stock shall be so listed, such listing of all shares of Common Stock from time to
time issuable upon the exercise of this Warrant; and the Company shall so list on each national
securities exchange or automated quotation system, as the case may be, and shall maintain such
listing of, any other shares of capital stock of the Company issuable upon the exercise of this
Warrant if and so long as any shares of the same class shall be listed on such national securities
exchange or automated quotation system.

     6.3 Notices of Corporate Action. In the event of:

          (a) any taking by the Company of a record of the holders of any class of securities for the
purpose of determining the holders thereof who are entitled to receive any dividend (other than a
regular periodic dividend payable in cash out of earned surplus in an amount not exceeding the
amount of the immediately preceding cash dividend for such period) or other distribution, or any
right to subscribe for, purchase or otherwise acquire any shares of stock of any class or any other
securities or property, or to receive any other right, or

          (b) any capital reorganization of the Company, any reclassification or recapitalization of the
capital stock of the Company or any consolidation or merger involving the

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Company and any other Person, any transaction or series of transactions in which more than 50%
of the voting securities of the Company are transferred to another Person or any transfer, sale or
other disposition of all or substantially all the assets of the Company to any other Person, or

          (c) any voluntary or involuntary dissolution, liquidation or winding-up of the Company,

the Company will mail to the Holder a notice specifying (i) the date or expected date on which any
such record is to be taken for the purpose of such dividend, distribution or right, and the amount
and character of such dividend, distribution or right, and (ii) the date or expected date on which
any such reorganization, reclassification, recapitalization, consolidation, merger, transfer,
dissolution, liquidation or winding-up is to take place and the time, if any such time is to be
fixed, as of which the holders of record of Common Stock (or Other Securities) shall be entitled to
exchange their shares of Common Stock (or Other Securities) for the securities or other property
deliverable upon such reorganization, reclassification, recapitalization, consolidation, merger,
transfer, dissolution, sale, disposition, liquidation or winding-up. Such notice shall be mailed
at least 45 days prior to the date therein specified.

7. Restrictions on Transfer.

     7.1 Restrictive Legends. Except as otherwise permitted by this Section 7, each
Warrant (including each Warrant issued upon the transfer of any Warrant) shall be stamped or
otherwise imprinted with a legend in substantially the following form:

“THIS WARRANT AND ANY SECURITIES ACQUIRED UPON EXERCISE OF THIS WARRANT HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES
LAW OF ANY STATE AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF EXCEPT
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND APPLICABLE STATE
SECURITIES LAWS OR PURSUANT TO AN APPLICABLE EXEMPTION TO THE REGISTRATION
REQUIREMENTS OF SUCH ACT AND SUCH LAWS. THIS WARRANT AND SUCH SECURITIES MAY NOT BE
SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF EXCEPT IN COMPLIANCE WITH THE CONDITIONS
SPECIFIED IN THIS WARRANT AND IN THE REGISTRATION RIGHTS AGREEMENT BY AND BETWEEN
VISEON, INC. AND THE HOLDERS SPECIFIED THEREIN.”

     Except as otherwise permitted by this Section 7, until such time as the Commission
declares effective the registration statement required by the terms of Section 2 of the
Registration Rights Agreement between the Company and the Holder, each certificate for Common Stock
(or Other Securities) issued upon the exercise of any Warrant, and each certificate issued upon the
transfer of any such Common Stock (or Other Securities), shall be stamped or otherwise imprinted
with a legend in substantially the following form:

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAW OF ANY STATE,
AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS
OR PURSUANT TO AN APPLICABLE EXEMPTION TO THE REGISTRATION REQUIREMENTS OF SUCH ACT
AND SUCH LAWS.”

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     7.2 Transfer to Comply With the Securities Act. Restricted Securities may not be
sold, assigned, pledged, hypothecated, encumbered or in any manner transferred or disposed of, in
whole or in part, except in compliance with the provisions of the Securities Act and state
securities or Blue Sky laws and the terms and conditions hereof.

     7.3 Termination of Restrictions. The restrictions imposed by this Section 7 on the
transferability of Restricted Securities shall cease and terminate as to any particular Restricted
Securities (a) when a registration statement with respect to the sale of such securities shall have
been declared effective under the Securities Act and such securities shall have been disposed of in
accordance with such registration statement, (b) when such securities are sold pursuant to Rule 144
(or any similar provision then in force) under the Securities Act, or (c) when, in the opinion of
both counsel for the Holder and counsel for the Company, such restrictions are no longer required
or necessary in order to protect the Company against a violation of the Securities Act upon any
sale or other disposition of such securities without registration thereunder. Whenever such
restrictions shall cease and terminate as to any Restricted Securities, the Holder shall be
entitled to receive from the Company, without expense, new securities of like tenor not bearing the
applicable legends required by Section 7.1.

8. Reservation of Stock, etc. The Company shall at all times reserve and keep available,
solely for issuance and delivery upon exercise of the Warrants, one hundred and fifty percent
(150%) of the number of shares of Common Stock (or Other Securities) from time to time issuable
upon exercise of all Warrants at the time outstanding. All shares of Common Stock (or Other
Securities) issuable upon exercise of any Warrants shall be duly authorized and, when issued upon
such exercise, shall be validly issued and, in the case of shares, fully paid and nonassessable
with no liability on the part of the holders thereof, and, in the case of all securities, shall be
free from all taxes, liens, security interests, encumbrances, preemptive rights and charges. The
transfer agent for the Common Stock, which may be the Company (“Transfer Agent”), and every
subsequent Transfer Agent for any shares of the Company’s capital stock issuable upon the exercise
of any of the purchase rights represented by this Warrant, are hereby irrevocably authorized and
directed at all times until the Expiration Date to reserve such number of authorized and unissued
shares as shall be requisite for such purpose. The Company shall keep copies of this Warrant on
file with the Transfer Agent for the Common Stock and with every subsequent Transfer Agent for any
shares of the Company’s capital stock issuable upon the exercise of the rights of purchase
represented by this Warrant. The Company shall supply such Transfer Agent with duly executed stock
certificates for such purpose. All Warrant certificates surrendered upon the exercise of the
rights thereby evidenced shall be canceled, and such canceled Warrants shall constitute sufficient
evidence of the number of shares of stock that have
been issued upon the exercise of such Warrants. Subsequent to the Expiration Date, no shares of
stock need be reserved in respect of any unexercised Warrant.

9. Registration and Transfer of Warrants, etc.

     9.1 Warrant Register; Ownership of Warrants. Each Warrant issued by the Company shall
be numbered and shall be registered in a warrant register (the “Warrant

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Register”) as it is issued
and transferred, which Warrant Register shall be maintained by the Company at its principal office
or, at the Company’s election and expense, by a warrant agent or the Company’s transfer agent. The
Company shall be entitled to treat the registered Holder of any Warrant on the Warrant Register as
the owner in fact thereof for all purposes and shall not be bound to recognize any equitable or
other claim to or interest in such Warrant on the part of any other Person, and shall not be
affected by any notice to the contrary, except that, if and when any Warrant is properly assigned
in blank, the Company may (but shall not be obligated to) treat the bearer thereof as the owner of
such Warrant for all purposes. Subject to Section 7, a Warrant, if properly assigned, may be
exercised by a new holder without a new Warrant first having been issued.

     9.2 Transfer of Warrants. Subject to compliance with Section 7, if applicable, this
Warrant and all rights hereunder are transferable in whole or in part, without charge to the Holder
hereof, upon surrender of this Warrant with a properly executed Form of Assignment attached hereto
as Exhibit B at the principal office of the Company. Upon any partial transfer, the Company shall
at its expense issue and deliver to the Holder a new Warrant of like tenor, in the name of the
Holder, which shall be exercisable for such number of shares of Common Stock with respect to which
rights under this Warrant were not so transferred.

     9.3 Replacement of Warrants. On receipt by the Company of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in
the case of any such loss, theft or destruction of this Warrant, on delivery of an indemnity
agreement reasonably satisfactory in form and amount to the Company or, in the case of any such
mutilation, on surrender of such Warrant to the Company at its principal office and cancellation
thereof, the Company at its expense shall execute and deliver, in lieu thereof, a new Warrant of
like tenor.

     9.4 Adjustments to Warrant Quantity. Notwithstanding any adjustment in the number or
kind of shares of Common Stock or other securities purchasable upon exercise of this Warrant, any
Warrant theretofore or thereafter issued may continue to express the same number and kind of shares
of Common Stock as are stated in this Warrant, as initially issued.

     9.5 Fractional Shares. Notwithstanding any adjustment pursuant to Section 2 in the
number of shares of Common Stock covered by this Warrant or any other provision of this Warrant,
the Company may, but shall not be required to, issue fractions of shares upon exercise of this
Warrant or to distribute certificates which evidence fractional shares. In lieu of fractional
shares, the Company shall make payment to the Holder, at the time of exercise of this Warrant as
herein provided, in an amount in cash equal to such fraction multiplied by the Closing Price of a
share of Common Stock on the date of Warrant exercise.

     10. Definitions. As used herein, unless the context otherwise requires, the following
terms have the following respective meanings:

     Affiliate: Any person that directly or indirectly, through one or more
intermediaries, controls, is controlled by or is under common control with, the
applicable person. For purposes of this definition, “control” has the meaning
specified in Rule 12b-2 under the Exchange Act.

11

 

     Business Day: Any day other than a Saturday or a Sunday or a day on
which commercial banking institutions in the City of Nevada are authorized by law to
be closed. Any reference to “days” (unless Business Days are specified) shall mean
calendar days.

     Closing Price: For any day, shall be (i) the last reported sales
price regular way of the Common Stock on such day on the principal securities
exchange on which the Common Stock is then listed or admitted to trading or on
Nasdaq, as applicable, (ii) if no sale takes place on such day on any such
securities exchange or system, the average of the closing bid and asked prices,
regular way, on such day for the Common Stock as officially quoted on any such
securities exchange or system, (iii) if on such day such shares of Common
Stock are not then listed or admitted to trading on any securities exchange or
system, the last reported sale price, regular way, on such day for the Common Stock,
(iv) or if no sale takes place on such day the average of the comparative bid and
asked prices quoted for the Common Stock in the National Association of Securities
Dealers, Inc. Automated Quotation (“NASDAQ”) System as of 4:00 P.M., New York City
time on such day, or if such shares shall not be quoted in the NASDAQ System, the
average of the high and low bid and asked price of the Common Stock on such day in
the domestic over-the-counter market as reported by the National Quotation Bureau,
Incorporated, or any other successor organization. If at any time such shares of
Common Stock are not listed on any domestic exchange or quoted in the NASDAQ System
or the domestic over-the-counter market, the Closing Price shall be the fair market
value thereof determined by the Board of Directors of the Company in good faith.

     Code: As defined in Section 1.5.

     Commission: The Securities and Exchange Commission or any other
federal agency at the time administering the Securities Act.

     Common Stock: As defined in the introduction to this Warrant, such
term to include any stock into which such Common Stock shall have been changed or
any stock resulting from any reclassification of such Common Stock, and all other
stock of any class or classes (however designated) of the Company the holders of
which have the right, without limitation as to amount, either to all or to a share
of the balance of current dividends and liquidating dividends after the payment of
dividends and distributions on any shares entitled to preference.

     Company: As defined in the introduction to this Warrant, such term to
include any corporation, which shall succeed to or assume the obligations of the
Company hereunder.

     Exchange Act: The Securities Exchange Act of 1934, or any similar
federal statute, and the rules and regulations of the Commission thereunder, all as
the same shall be in effect at the time.

12

 

     Excluded Shares: (i) shares of Common Stock issued or issuable pursuant
to the Company’s Series B Convertible Preferred Stock, Series B Warrants, or Series
B-Agent Warrants, specifically including all shares of Common Stock which may be
issued upon conversion or exercise thereof or which may be issued as dividends
thereon, (ii) shares of Common Stock issued or issuable pursuant to the Company’s
Series A Convertible Preferred Stock, specifically including all conversion shares
and all shares that may be issued as dividends thereon, (iii) shares of Common Stock
issuable upon the exercise of any options or warrants outstanding on the date of
this Warrant, (iv) shares of Common Stock issuable pursuant to or upon the
conversion of any note, debenture, debt instrument and all other written agreements
to which the Company is a party on the date of this Warrant (v) shares of Common
Stock (including grants, options and warrants) issuable pursuant to or in accordance
with any plan for which the Company has filed a registration statement that has been
declared effective including, without limitation, the 1994 Stock Plan, the 2005
Stock Plan and the Consultant Compensation Plan, or any other stock plan, option
plan or written agreements to which the Company is a party on the Issue Date,
including all modifications and replacements thereof, (vi) shares of Common Stock
issued or issuable pursuant to the Company’s Series A-1 Warrants, (vii) shares of
Common Stock issued or issuable pursuant to the Company’s Series A-2 Warrants and
(viii) shares of Common Stock issued or issuable pursuant to the Company’s Series
A-Agent Warrants. Any Excluded Shares issued and outstanding on the Series B
Preferred Stock Issue Date that are thereafter amended or modified pursuant to an
agreement between the Company and the holder thereof such that the effective price
per share of the Common Stock to be issued on the exercise, conversion or exchange
thereof is less than the Conversion Price, shall as the result of such amendment or
modification thereupon not constitute Excluded Shares. The immediately preceding
sentence applies only to such issued and outstanding shares that are affected by
such amendment or modification and shall be effective concomitantly with any such
amendment or modification taking effect. For the purposes of this definition the
effective price per share shall be calculated by dividing the number of shares of
Common Stock to be issued upon any such exchange or conversion by the sum of (a) the
amount of all consideration given or paid for the securities to be exchanged or
converted in to Common Stock and (b) the consideration to be paid upon such issue,
exchange or conversion for Common Stock.

     Expiration Date: As defined in the introduction to this Warrant.

     Holder: As defined in the introduction to this Warrant.

     NASD: The National Association of Securities Dealers, Inc.

     Other Securities: Any stock (other than Common Stock) and other
securities of the Company or any other Person (corporate or otherwise) which the
holders of the Warrants at any time shall be entitled to receive, or shall have
received, upon the exercise of the Warrants, in lieu of or in addition to Common

13

 

Stock, or which at any time shall be issuable or shall have been issued in exchange
for or in replacement of Common Stock or Other Securities pursuant to Section 2 or
otherwise in accordance with the provisions of this Warrant.

     Public Company: A company required to file periodic reports under the
Exchange Act.

     Purchase Agreement: The Purchase Agreement dated as of the date of this
Warrant by and between the Company and the initial holder of this Warrant.

     Person: An individual, firm, partnership, corporation, professional
corporation, trust, joint venture, association, joint stock company, limited
liability company, unincorporated organization or any other entity or organization,
including a government or agency or political subdivision thereof, and shall include
any successor (by merger or otherwise) of such entity.

     Registration Rights Agreement: The Registration Rights Agreement dated
the date hereof, by and between the Company and the initial Holder of this Warrant.

     Restricted Securities: (a) any Warrants bearing the applicable legend
set forth in Section 7.1, (b) any shares of Common Stock (or Other Securities)
issued or issuable upon the exercise of Warrants which are evidenced by a
certificate or certificates bearing the applicable legend set forth in such Section,
and (c) any shares of Common Stock (or Other Securities) issued subsequent to the
exercise of any of the Warrants as a dividend or other distribution with respect to,
or resulting from a subdivision of the outstanding shares of Common Stock (or other
Securities) into a greater number of shares by reclassification, stock splits or
otherwise, or in exchange for or in replacement of the Common Stock (or Other
Securities) issued upon such exercise, which are evidenced by a certificate or
certificates bearing the applicable legend set forth in such Section.

     Securities Act: The Securities Act of 1933, or any similar federal
statute, and the rules and regulations of the Commission thereunder, all as the same
shall be in effect at the time.

     Trading Day: A day on which the securities exchange, association, or
quotation system on which shares of Common Stock are listed for trading shall be
open for business or, if the shares of Common Stock shall not be listed on such
exchange, association, or quotation system for such day, a day with respect to
which trades in the United States domestic over the counter market shall be
reported.

     Warrant: As defined in the introduction to this Warrant.

     Warrant Price: As defined in the first paragraph of this Warrant.

     Warrant Shares: As defined in the first paragraph of this Warrant.

14

 

11. Remedies; Specific Performance. The Company stipulates that there would be no adequate
remedy at law to the Holder of this Warrant in the event of any default or threatened default by
the Company in the performance of or compliance with any of the terms of this Warrant and
accordingly, the Company agrees that, in addition to any other remedy to which the Holder may be
entitled at law or in equity, the Holder shall be entitled to seek to compel specific performance
of the obligations of the Company under this Warrant, without the posting of any bond, in
accordance with the terms and conditions of this Warrant in any court of the United States or any
State thereof having jurisdiction, and if any action should be brought in equity to enforce any of
the provisions of this Warrant, the Company shall not raise the defense that there is an adequate
remedy at law. Except as otherwise provided by law, a delay or omission by the Holder hereto in
exercising any right or remedy accruing upon any such breach shall not impair the right or remedy
or constitute a waiver of or acquiescence in any such breach. No remedy shall be exclusive of any
other remedy. All available remedies shall be cumulative.

12. No Rights or Liabilities as Shareholder. Nothing contained in this Warrant shall be
construed as conferring upon the Holder hereof any rights as a shareholder of the Company or as
imposing any obligation on the Holder to purchase any securities or as imposing any liabilities on
the Holder as a shareholder of the Company, whether such obligation or liabilities are asserted by
the Company or by creditors of the Company.

13. Notices. Any notice or other communication required or permitted hereunder shall be
deemed given if in writing and delivered personally, telegraphed, telexed, sent by facsimile
transmission or sent by certified, registered or express mail, postage prepaid. Any such notice
shall be deemed given when so delivered personally or sent by overnight air courier or facsimile
transmission or, if mailed, two days after the date of deposit in the United States mail, as
follows:

	 	 	 
	If to the initial Holder:
	 
	 	 
	 

	 	at the address set forth on such
Holder’s signature page of the
Securities Purchase Agreement
	 
	 	 
	 

	 	With a copy to:
	 
	 	 
	 

	 	Greenberg Traurig, LLP
	 

	 	77 W. Wacker Drive, Suite 2500
	 

	 	Chicago, Illinois 60601
	 

	 	Attn: Peter H. Lieberman and Todd A. Mazur
	 

	 	Facsimile: (312) 456-8435
	 
	 	 
	If to Viseon, Inc.:
	 
	 	 
	 

	 	Viseon, Inc.
	 

	 	Attn: President
	 

	 	8445 Freeport Parkway
	 

	 	Suite 245
	 

	 	Irving, TX 75063

15

 

	 	 	 
	With a copy to:
	 
	 	 
	 

	 	Albert B. Greco, Jr.
	 

	 	Law Offices of Albert B. Greco, Jr.
	 

	 	16901 N. Dallas Parkway, Suite 230
	 

	 	Addison, Texas 75001
	 

	 	Facsimile: 972-818-7343

     Any party may be given notice in accordance with this Section by any other party at another
address or person for receipt of notices, if such party so designates such other person or address
in writing in accordance with this Section 13. The Company shall give notice to any subsequent
Holder at such address as it appears in the Warrant Register.

     All such notices and communications (and deliveries) shall be deemed to have been duly given:
at the time delivered by hand, if personally delivered; when receipt is acknowledged, if
telecopied; on the next Business Day, if timely delivered to a courier guaranteeing overnight
delivery; and five days after being deposited in the mail, if sent first class or certified mail,
return receipt requested, postage prepaid; provided that the exercise of any Warrant shall
be effective in the manner provided in Section 1.

14. Amendments. This Warrant and any term hereof may not be amended, modified,
supplemented or terminated, and waivers or consents to departures from the provisions hereof may
not be given, except by written instrument duly executed by the party against which enforcement of
such amendment, modification, supplement, termination or consent to departure is sought.

15. Descriptive Headings, Etc. The headings in this Warrant are for convenience of
reference only and shall not limit or otherwise affect the meaning of terms contained herein.
Unless the context of this Warrant otherwise requires: (1) words of any gender shall be deemed to
include each other gender; (2) words using the singular or plural number shall also include the
plural or singular number, respectively; (3) the words “hereof”, “herein” and “hereunder” and words
of similar import when used in this Warrant shall refer to this Warrant as a whole and not to any
particular provision of this Warrant, and Section and paragraph references are to the Sections and
paragraphs of this Warrant unless otherwise specified; (4) the word “including” and words of
similar import when used in this Warrant shall mean “including, without limitation,”
unless otherwise specified; (5) “or” is not exclusive; and (6) provisions apply to successive
events and transactions.

16. Law Governing Agreement. THIS WARRANT SHALL BE INTERPRETED, CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, AND SUBJECT TO, THE LAWS OF THE STATE OF NEVADA, EXCEPT TO THE EXTENT THAT FEDERAL
LAW MAY APPLY AND ITS CONSTRUCTION AND PERFORMANCE SHALL BE GOVERNED SUCH LAWS OF THE STATE OF
NEVADA WITHOUT GIVING EFFECT TO ANY CHOICE OR CONFLICT OF LAW PROVISION OR RULE THAT WOULD RESULT
IN THE APPLICATION OF THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF NEVADA.

16

 

17. Registration Rights Agreement. The shares of Common Stock (and Other Securities)
issuable upon exercise of this Warrant (or upon conversion of any shares of Common Stock issued
upon such exercise) shall constitute Registrable Securities (as such term is defined in the
Registration Rights Agreement). Each holder of this Warrant shall be entitled to all of the
benefits afforded to a holder of any such Registrable Securities under the Registration Rights
Agreement and such holder, by its acceptance of this Warrant, agrees to be bound by and to comply
with the terms and conditions of the Registration Rights Agreement applicable to such holder as a
holder of such Registrable Securities.

18. Redemption. Commencing on the first Trading Day after the Commission declares the
registration statement filed by the Company pursuant to Section 2 of the Registration Rights
Agreement effective, the Company has the right to redeem this Warrant for the redemption price of
ten cents ($0.10) per Warrant Share (the “Redemption Price”); provided that the average Closing
Price of the Company’s Common Stock for any twenty consecutive Trading Days is $3.00 or more, the
Registration Statement remains in effect and the average trading volume of the shares of Common
Stock has been 100,000 shares or more during the same 20 consecutive Trading Days at any time prior
to the exercise or expiration of this Warrant and provided further that following the occurrence of
any such event, the Company gives the Holder ten (10) days prior written notice of the Company’s
intention to redeem this Warrant (the “Redemption Notice”), identifying a date, no earlier than ten
days thereafter, on which the Company will exercise such rights.

     The $3.00 amount set forth above (the “Trigger Amount”) shall be subject to adjustment in the
event that the Company shall (i) pay a dividend or make a distribution on its Common Stock, each in
shares of Common Stock, (ii) subdivide its outstanding shares of Common Stock into a greater number
of shares, or (iii) combine its outstanding shares of Common Stock into a smaller number of shares,
in each case, by multiplying the Trigger Amount by a fraction, the numerator of which is the number
of outstanding shares of Common Stock immediately prior to giving effect to such dividend,
distribution, subdivision, or combination and the denominator of which is the number of shares of
Common Stock outstanding immediately after giving effect to such dividend, distribution,
subdivision, or combination.

     The Holder may exercise this Warrant at any time before the date fixed for the redemption of
this Warrant in the Redemption Notice, however, at the final bell signifying the close of the New
York Stock Exchange on the day preceding the date specified in the
Redemption Notice, any Warrant or portion thereof that remains unexercised shall thereupon be
no longer exercisable, exchangeable or convertible in any manner for or into any Warrant Shares or
other equity securities of the Company and the only consideration payable by the Company thereon
and in exchange therefore or other obligation of the Company with respect thereto shall be the
payment of the Redemption Price upon surrender of the original Warrant at the principal place of
business of the Company or at any other address or to the attention of any agent as the Company may
specify in the Redemption Notice.

17

 

19. Restriction on Exercise by the Holder. Notwithstanding anything herein to the
contrary, the Company shall not effect any exercise of this Warrant, and the Holder shall not have
the right to exercise any portion of this Warrant to the extent that after giving effect to such
issuance after exercise, the Holder (together with the Holder’s Affiliates, and any other person or
entity acting as a group together with the Holder or any of the Holder’s Affiliates), would
beneficially own in excess of 4.90% of the number of shares of the Common Stock outstanding
immediately after giving effect to such issuance. For purposes of the foregoing sentence, the
number of shares of Common Stock beneficially owned by the Holder and its Affiliates shall include
the number of shares of Common Stock issuable upon exercise of this Warrant with respect to which
the determination of such sentence is being made, but shall exclude the number of shares of Common
Stock which would be issuable upon (A) exercise of the remaining, nonexercised portion of this
Warrant beneficially owned by the Holder or any of its Affiliates and (B) exercise or conversion of
the unexercised or nonconverted portion of any other securities of the Company subject to a
limitation on conversion or exercise analogous to the limitation contained herein beneficially
owned by the Holder or any of its Affiliates. Except as set forth in the preceding sentence, for
purposes of this Section 19, beneficial ownership shall be calculated in accordance with Section
13(d) of the Exchange Act, it being acknowledged by Holder that the Company is not representing to
Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and Holder is
solely responsible for any schedules required to be filed in accordance therewith. To the extent
that the limitation contained in this Section 19 applies, the determination of whether this Warrant
is exercisable (in relation to other securities owned by the Holder) and of which portion of this
Warrant is exercisable shall be in the sole discretion of the Holder, and the exercise of this
Warrant (or any portion thereof) shall be deemed to be the Holder’s determination of whether this
Warrant is exercisable (in relation to other securities owned by the Holder) and of which portion
of this Warrant is exercisable, in each case subject to the 4.90% limitation, and the Company shall
have no obligation to verify or confirm the accuracy of such determination. In addition, a
determination as to any group status as contemplated above shall be determined in accordance with
Section 13(d) of the Exchange Act. For purposes of this Section 19, in determining the number of
outstanding shares of Common Stock, the Holder may rely on the number of outstanding shares of
Common Stock as reflected in (x) the Company’s most recent Form 10-Q or Form 10-K, as the case may
be, (y) a more recent public announcement by the Company or (z) any other notice by the Company or
the Company’s transfer agent setting forth the number of shares of Common Stock outstanding. Upon
the written or oral request of the Holder, the Company shall within two Trading Days confirm orally
and in writing to the Holder the number of shares of Common Stock then outstanding. In any case,
the number of outstanding shares of Common Stock shall be determined after giving effect to the
conversion or exercise of securities of the Company, including this Warrant, by the Holder or its
Affiliates since the date as of which such number of outstanding shares of Common Stock was
reported. The provisions of this Section 19 shall be
implemented in a manner otherwise than in strict conformity with the terms of this Section 19 to
correct this Section 19 (or any portion hereof) which may be defective or inconsistent with the
intended 4.90% beneficial owner
ship limitation herein contained or to make changes or supplements
necessary or desirable to properly give effect to such 4.90% limitation. The limitations contained
in this Section 19 shall apply to a successor holder of this Warrant. The holders of Common Stock
of the Company shall be third party beneficiaries of this Section 19 and the Company may not waive
this Section 19 without the consent of holders of a majority of

18

 

its Common Stock. Nothing contained
in this Section 19 or any other provision hereof shall restrict, affect or limit in any manner the
right of the Company to redeem this Warrant in accordance with the provisions of Section 18
hereinabove.

20. Waiver of Jury Trial. EACH PARTY HEREBY KNOWINGLY, INTENTIONALLY AND VOLUNTARILY
WAIVES, RELINQUISHES AND FOREVER FORGOES THE RIGHT TO A TRIAL BY JURY IN ANY ACTION, SUIT OR OTHER
PROCEEDING BASED UPON, ARISING OUT OF OR IN ANY WAY RELATING TO THIS WARRANT (INCLUDING ANY
AMENDMENTS OR SUBSTITUTIONS HEREOF), OR ANY OF THE TRANSACTIONS CONTEMPLATED BY OR RELATED TO THIS
WARRANT OR ANY CONDUCT, ACT OR OMISSION OF THE PARTIES OR THEIR AFFILIATES (OR ANY OF THEM) WITH
RESPECT TO THIS WARRANT, INCLUDING ANY AMENDMENTS OR SUBSTITUTIONS, WHETHER SOUNDING IN CONTRACT,
TORT OR OTHERWISE, REGARDLESS OF WHICH PARTY INITIATES SUCH ACTION, SUIT OR OTHER PROCEEDING; AND
EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH ACTION, SUIT OR OTHER PROCEEDING SHALL BE
DECIDED BY A COURT TRIAL WITHOUT A JURY, AND THAT EITHER PARTY MAY FILE A COPY OF THIS SECTION WITH
ANY COURT AS WRITTEN EVIDENCE OF THE STIPULATION AND CONSENT OF THE OTHER TO THE WAIVER OF ANY
RIGHT IT OR THEY MIGHT OTHERWISE HAVE TO A TRIAL BY JURY.

Viseon, Inc.

     (Formerly RSI Systems, Inc.)

	 	 	 
	 
	 	 
	By:

	 	John Harris
	Its:

	 	President and Chief Executive Officer

19

 

Exhibit A

FORM OF SUBSCRIPTION

[To be executed only upon exercise of Warrant]

     To: Viseon, Inc..

     The undersigned registered holder of the within Warrant hereby irrevocably exercises such
Warrant for, and purchases thereunder,                     1 shares of common stock of Viseon,
Inc. (Formerly RSI Systems, Inc.) and herewith makes payment of $                    2 therefor, and
requests that the certificates for such shares be issued in the name of, and delivered to
                                                                                                    , whose address is
                                                                                                                                                                .

	 	 	 	 	 
	Dated:
	 	 	 	 
	 

	 	 
	 	 
	 

	 	 	 	(Signature must conform in all respects to the name
of holder as specified on the face of Warrant)
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	 	 	(Street Address)
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	 	 	(City) (State) Zip Code)

 

			
	 	 	1 Insert here the number of shares called for on
the face of this Warrant (or, in the case of a partial exercise, the portion
thereof as to which this Warrant is being exercised), in either case without
making any adjustment for additional shares of Common Stock or any other
securities or property or cash which, pursuant to the adjustment provisions of
this Warrant, may be delivered upon exercise. In the case of partial exercise,
a new Warrant, representing the unexercised portion of the Warrant, will be
issued and delivered to the holder surrendering the Warrant.
	 
	 	 	2 In the event that a cashless exercise of this
Warrant is available at the time of exercise, to the extent a requesting a
cashless exercise, print the word “cashless” in addition
to or in place of any dollar amount.

1

 

Exhibit B

FORM OF ASSIGNMENT

[To be executed only upon assignment of Warrant]

For value received, the undersigned registered holder of the within Warrant hereby sells,
assigns and transfers unto                                                                            the right represented by such
Warrant to purchase                                                                                  shares of common stock of
Viseon, Inc. (Formerly RSI Systems, Inc.), to which such Warrant relates, and appoints
                                                                                , Attorney to make such transfer on the books of Viseon,
Inc. (Formerly RSI Systems, Inc.), maintained for such purpose, with full power of substitution in
the premises.

	 	 	 	 	 
	Dated:
	 	 	 	 
	 

	 	 
	 	 
	 

	 	 	 	(Signature must conform in all respects to the name
of holder as specified on the face of Warrant)
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	 	 	(Street Address)
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	 	 	(City) (State) Zip Code)

Signed in the presence of:

	 
	 

	 

	 

	 

	 

	(printed name)

	 

	 

	 

	 

	 

	(printed name)

1exv10w1

 

Exhibit 10.1

Execution Copy

 

OMNIBUS AGREEMENT

AMONG

WILLIAMS ENERGY SERVICES, LLC

WILLIAMS ENERGY, L.L.C.

WILLIAMS DISCOVERY PIPELINE LLC

WILLIAMS PARTNERS HOLDINGS LLC

WILLIAMS PARTNERS GP LLC

WILLIAMS PARTNERS L.P.

WILLIAMS PARTNERS OPERATING LLC

AND

(FOR PURPOSES OF ARTICLES V AND VI ONLY) THE WILLIAMS COMPANIES, INC.

 

 

 

OMNIBUS AGREEMENT

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

R E C I T A L S:

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

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

ARTICLE I

Definitions

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

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

     “Additional Expenditures” has the meaning given such term in Section 3.1 of this
Agreement.

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

Williams Partners L.P.

Omnibus Agreement

-1-

 

     “Cap” has the meaning give n such term in Section 2.4(a).

     “Change of Control” means, with respect to any Person (the “Applicable Person”), any of
the following events: (i) any sale, lease, exchange or other transfer (in one transaction
or a series of related transactions) of all or substantially all of the Applicable Person’s
assets to any other Person, unless immediately following such sale, lease, exchange or
other transfer such assets are owned, directly or indirectly, by the Applicable Person; (ii)
the dissolution or liquidation of the Applicable Person; (iii) the consolidation or merger
of the Applicable Person with or into another Person pursuant to a transaction in which the
outstanding Voting Securities of the Applicable Person are changed into or exchanged for
cash, securities or other property, other than any such transaction where (a) the
outstanding Voting Securities of the Applicable Person are changed into or exchanged for
Voting Securities of the surviving corporation or its parent and (b) the holders of the
Voting Securities of the Applicable Person immediately prior to such transaction own,
directly or indirectly, not less than a majority of the outstanding Voting Securities of the
surviving corporation or its parent immediately after such transaction; and (iv) a “person”
or “group” (within the meaning of Sections 13(d) or 14(d)(2) of the Exchange Act) being or
becoming the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act)
of more than 50% of all of the then outstanding Voting Securities of the Applicable Person,
except in a merger or consolidation which would not constitute a Change of Control under
clause (iii) above.

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

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

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

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

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

(i) any violation or correction of violation, including without limitation
performance of any Environmental Activity, of Environmental Laws; or

     (ii) any event, omission or condition associated with ownership or operation of the
Assets (including, without limitation, the exposure to or presence of Hazardous Substances
on, under, about or migrating to or from the Assets or the exposure to or Release of
Hazardous Substances arising out of operation of the Assets at non-Asset locations)
including, without limitation, (A) the cost and expense of any Environmental Activities, (B)
the cost or expense of the preparation and implementation of any closure,

Williams Partners L.P.

Omnibus Agreement

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remedial or corrective action or other plans required or necessary under Environmental
Laws and (C) the cost and expense for any environmental or toxic tort pre-trial, trial or
appellate legal or litigation support work; provided, in the case of clauses (A) and (B),
such cost and expense shall not include the costs of and associated with project management
and soil and ground water monitoring;

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

     “Covered Shipper Refunds” has the meaning given such term in Section 3.2 of this
Agreement.

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

     “Discovery LLC Agreement” means the Third Amended and Restated Limited Liability
Company Agreement of Discovery Producer Services LLC, dated
June 13, 2005 to be effective on
the Effective Date (as defined therein), by and among Duke Energy Field Services, LP,
Williams Energy and the OLLC.

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

     “Environmental Activities” shall mean any investigation, study, assessment, evaluation,
sampling, testing, monitoring, containment, removal, disposal, closure, corrective action,
remediation (regardless of whether active or passive), natural attenuation, restoration,
bioremediation, response, repair, corrective measure, cleanup, or abatement that is required
or necessary under any applicable Environmental Law, including, but not limited to,
institutional or engineering controls or participation in a governmental voluntary cleanup
program to conduct voluntary investigatory and remedial actions for the clean-up, removal or
remediation of Hazardous Substances that exceed actionable levels established pursuant to
Environmental Laws, or participation in a supplemental environmental project in partial or
whole mitigation of a fine or penalty.

     “Environmental Laws” means all federal, state, and local laws, statutes, rules,
regulations, orders, judgments, ordinances, codes, injunctions, decrees, Environmental
Permits and other legally enforceable requirements and rules of common law relating to (a)
pollution or protection of the environment or natural resources including, without
limitation, the federal Comprehensive Environmental Response, Compensation and Liability
Act, the Superfund Amendments and Reauthorization Act, the Resource Conservation and
Recovery Act, the Clean Air Act, the Clean Water Act, the Safe Drinking Water Act, the Toxic
Substances Control Act, the Oil Pollution Act of 1990, the Hazardous Materials
Transportation Act, the Marine Mammal Protection Act, the Endangered Species Act, the
National Environmental Policy Act, and other environmental conservation and protection laws,
each as amended through the Closing Date, (b) any Release or threatened Release of, or any
exposure of any Person or property

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to, any Hazardous Substances and (c) the generation, manufacture, processing,
distribution, use, treatment, storage, transport, or handling of any Hazardous Substances.

     “Environmental Permit” means any permit, approval, identification number, license,
registration, consent, exemption, variance, or other authorization required under or issued
pursuant to any applicable Environmental Law.

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

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

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

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

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

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

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

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

     “Licensor” means, for purposes of Article V hereof, Williams.

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

     “MAPCO” means MAPCO, Inc., a Delaware corporation and a wholly owned indirect
subsidiary of Williams.

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     “Marks” means all trademarks, tradenames, logos and/or service marks identified on
Schedule I attached hereto.

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

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

     “MLP Assets” means the pipeline, natural gas fractionator, NGL storage facility or
related equipment or asset, or portion thereof, conveyed, contributed or otherwise
transferred or intended to be conveyed, contributed or otherwise transferred to any member
of the Partnership Group, or owned by or necessary for the operation of the business,
properties or assets or any member of the Partnership Group, prior to or as of the Closing
Date; provided, the MLP Assets do not include the Discovery Assets.

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

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

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

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

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

     “Release” means any depositing, spilling, leaking, pumping, pouring, placing, emitting,
discarding, abandoning, emptying, discharging, migrating, injecting, escaping, leaching,
dumping, or disposing into the environment.

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

     “Tahiti AFE” means the AFE (approval for expenditure) approved by the management
committee of Discovery, as of July 22, 2005, with respect to the construction of the Tahiti
Lateral and the Upstream Pipeline.

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     “Tahiti Construction Agreement” means the Coordination and Construction Agreement,
dated July 21, 2005, by and among Discovery Producer Services, LLC, Shell Gulf of Mexico
Inc., Chevron U.S.A. Inc. and Statoil Gulf of Mexico LLC.

     “Tahiti Escrow Account” means the escrow account to fund the pro rata portion of
expenditures covered by the Tahiti AFE attributable to Williams and the MLP established by
Discovery pursuant to Article XV of the Coordination and Construction Agreement, dated July
21, 2005, by and among Discovery, Shell Gulf of Mexico Inc., Chevron U.S.A. Inc. and Statoil
Gulf of Mexico LLC.

     “Tahiti Lateral” has the meaning assigned to such term in the Tahiti Construction
Agreement.

     “UOP” means UOP Process Division (a division of Universal Oil Products Company, a
Delaware corporation).

     “Upstream Pipeline” has the meaning assigned to such term in the Tahiti Construction
Agreement.

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

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

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

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

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

     “Williams Entities” means Williams and any Person controlled by Williams, other than
the Partnership Entities. For purposes of this definition, “control” means the possession,
direct or indirect, of the power to direct or cause the direction of the management and
policies of a Person, whether through ownership of Voting Securities, by contract or
otherwise.

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

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

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

ARTICLE II

Indemnification

     2.1 Environmental Indemnification.

     (a) Subject to the provisions of Section 2.4 and Section 2.5, the Williams Indemnitors
shall indemnify, defend and hold harmless the Partnership Group from and against any Covered
Environmental Losses relating to the MLP Assets and the Discovery Assets for a period of
three (3) years from the Closing Date; provided, the Williams Indemnitors shall only be
obligated to indemnify, defend and hold harmless the Partnership Group for forty percent
(40.0%) of any Covered Environmental Losses associated with the Discovery Assets.

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

     (i) the completion of the currently ongoing or scheduled remediation projects
at the storage caverns in or in the vicinity of Conway, Kansas pursuant to consent
orders issued by the Kansas Department of Health and Environment, as more fully
described on Schedule II hereto (the “Conway Plumes”), excluding costs of
and associated with project management and soil and groundwater monitoring or
operation and maintenance relating thereto;

     (ii) the performance of any Environmental Activities arising out of or
associated with the natural gas liquids and other hydrocarbons in localized
groundwater resources around two abandoned storage caverns in Conway, Kansas not
covered by the consent orders referred to in clause (i) above;

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

     (iv) the performance of any Environmental Activities arising out of or
associated with the discontinuance of use and any abandonment of Discovery’s shared
concrete storage tank which resides on a Chevron affiliate’s property adjacent to
Discovery’s Fractionation Plant, in Paradis, St. Charles Parish, Louisiana; and

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

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

     (c) The Partnership Group shall indemnify, defend and hold harmless the Williams
Entities from and against any Covered Environmental Losses relating to the MLP Assets
occurring after the Closing Date, except to the extent that the Partnership Group is
indemnified with respect to any of such Covered Environmental Losses under Section 2.1(a) or
2.1(b).

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

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

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

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

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

     2.3 Additional Indemnification

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

     (i) the failure of the Partnership Group to be the owner of valid and
indefeasible easement rights, leasehold and/or fee ownership interests in and to the
lands on which are located any MLP Assets, and such failure renders the Partnership
Group liable or unable to use or operate the MLP Assets in substantially the same
manner that the Pipeline Assets were used and operated by the Williams Entities
immediately prior to the Closing Date;

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

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

     (iv) the failure of MAPCO to assign or extend that certain License Agreement,
dated March 21, 1973, between MAPCO and UOP, to a member of the Partnership Group
prior to or on the Closing Date or any payment made by a member of the Partnership
Group to obtain a consent from UOP to permit the assignment or extension of such
License Agreement to a member of the Partnership Group;

provided, however, that, in the case of clauses (i) and (ii) above, such indemnification
obligations shall survive for three (3) years from the Closing Date; that in the case of
clause (iii) above, such indemnification obligations shall survive until sixty (60) days
after the expiration of any applicable statute of limitations; and that in the case of
clause (iv) above, such indemnification obligations shall survive without termination; and
provided, further, that the indemnification obligations under clauses (i) and (ii) above do
not include any pipeline or related equipment owned by Discovery.

     (b) In addition to and not in limitation of the indemnification provided under this
Article II, the Partnership Group shall indemnify, defend, and hold harmless the Williams
Entities from and against any Losses suffered or incurred by the Williams

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Entities by reason of or arising out of events and conditions associated with the
operation of the MLP Assets and occurring on or after the Closing Date.

     2.4 Limitations Regarding Indemnification.

     (a) The aggregate liability of the Williams Indemnitors under Sections 2.1(a), 2.1(b)
and 2.2 shall not exceed $14.0 million (the “Cap”); provided, however, the Cap shall be
reduced by the amount of any recoveries under the Environmental Policy. To the extent that
any of the events and conditions described in such Sections 2.1(a), 2.1(b) and 2.2 are
insured against under the Environmental Policy, the Partnership Group agrees to use
commercially reasonable efforts to pursue the recovery of such Losses under the
Environmental Policy for a reasonable period of time before seeking indemnification with
respect thereto from the Williams Indemnitors under this Agreement. In the case of
recoveries under the Environmental Policy made after indemnification has been provided by
the Williams Indemnitors in respect of a Loss pursuant to Section 2.1(a), 2.1(b) or 2.2, the
Partnership Group shall promptly remit to the Williams Indemnitors an amount equal to the
amount of such recovery.

     (b) No claims may be made against the Williams Indemnitors for indemnification pursuant
to Sections 2.1(a), 2.1(b) or 2.2 unless the aggregate dollar amount of such claims for
indemnification exceed $250,000, after such time the Williams Indemnitors shall be liable
for the full amount of such claims.

     (c) Notwithstanding anything herein to the contrary, in no event shall the Williams
Indemnitors have any indemnification obligations under this Agreement for claims made as a
result of additions to or modifications of Environmental Laws promulgated after the Closing
Date.

     2.5 Indemnification Procedures.

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

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

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

     (d) In determining the amount of any loss, cost, damage or expense for which the
Indemnified Party is entitled to indemnification under this Agreement, the gross amount of
the indemnification will be reduced by (i) any insurance proceeds realized by the
Indemnified Party, and such correlative insurance benefit shall be net of any incremental
insurance premium that becomes due and payable by the Indemnified Party as a result of such
claim and (ii) all amounts recovered by the Indemnified Party under contractual indemnities
from third Persons. The Partnership hereby agrees to use commercially reasonable efforts to
realize any applicable insurance proceeds or amounts recoverable under such contractual
indemnities.

ARTICLE III

Additional Reimbursement Obligations

3.1 Tahiti Reimbursement. The Williams Indmenitors hereby agree to contribute to the MLP
funds in an amount equal to forty percent (40.0%) of any Additional Expenditures by
Discovery covered by the Tahiti AFE; provided, the Williams Indemnitors shall have no
obligation to make any contribution to the MLP pursuant to this Section 3.1 until all
amounts in the Tahiti Escrow Account attributable to the MLP have been withdrawn by
Discovery and used to fund expenditures covered by the Tahiti AFE; and, provided, further,
the maximum amount that the Williams Indemnitors shall be required to contribute to the MLP
pursuant to this Section 3.1 shall be $3.4 million. For purposes of this Article III,
“Additional Expenditures” shall mean those expenditures by Discovery covered by the Tahiti
AFE in excess of $61.0 million.

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3.2 Reimbursement for Shipper Refunds. The Williams Indemnitors hereby agree to contribute
to the MLP funds in an amount equal to forty percent (40.0%) of any amounts that the FERC
requires Discovery to refund to shippers for retained system gas gains or over-recovery of
lost and unaccounted for gas in excess of $4.0 million; provided, that the reimbursement
obligation of the Williams Indemnitors under this Section 3.2 shall only apply to refunds in
excess of such $4.0 million amount (“Covered Shipper Refunds”). For purposes of this
Section 3.2, in-kind refunds of natural gas to shippers will be valued at the cost to
Discovery for purchases of natural gas in the month such in-kind repayments occur.

3.3 Reimbursement Procedures. The Williams Indemnitors shall have no obligation to make any
contribution to the MLP pursuant to Section 3.1 until the three (3) business days following
receipt by the Williams Indemnitors of written notice from the MLP that either (a) the MLP
has received a written request from Discovery pursuant to Section 3.2 of the Discovery LLC
Agreement for the MLP to make a capital contribution to Discovery for the express purpose of
funding Additional Expenditures covered by the Tahiti AFE or (b) Discovery has actually paid
or incurred Additional Expenditures covered by the Tahiti AFE. The Williams Indemnitors
shall have no obligation to make any contribution to the MLP pursuant to Section 3.2 until
three (3) business days following receipt by the Williams Indemnitors of written notice from
the MLP that either (a) the MLP has received a written request from Discovery pursuant to
Section 3.2 of the Discovery LLC Agreement for the MLP to make a capital contribution to
Discovery for the express purpose of funding Covered Shipper Refunds or (b) Discovery has
actually paid or incurred Covered Shipper Refunds. The Williams Indemnitors shall not be
required to make a contribution to the MLP in response to receipt of such notices more
frequently than once each calendar quarter. Upon receipt of such notice, the Williams
Indemnitors shall promptly contribute to the MLP funds in amount equal to forty percent
(40.0%) of, as applicable, the amount of Additional Expenditures covered by the Tahiti AFE
or Covered Shipper Refunds specified in such notice.

ARTICLE IV

Partial Credit for General and Administrative Expenses

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

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

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

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

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

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

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

ARTICLE V

License Agreement

5.1 Grant of License. Subject to the terms and conditions herein, Licensor hereby grants to
Licensees the right and license to use the Marks solely in connection with the Licensees’
businesses and the services performed therewith within the United States during the term of
this Agreement.

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

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

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

     (c) Licensees shall not use any other trademarks, service marks, trade names or logos
in connection with the Marks or use the Marks or any trademark or service mark

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confusingly similar to the Marks after the termination of this Agreement. Licensor
will not use the Marks in such a manner so as to impair the validity or enforceability or in
any way disparage or dilute the Marks.

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

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

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

5.6 Warranties; Disclaimers.

     (a) The Licensor represents and warrants that (i) it owns and has the right to license
the Marks licensed under this Agreement and (ii) the Marks do not infringe upon the rights
of any third parties.

     (b) EXCEPT FOR THE WARRANTIES AND REPRESENTATIONS DESCRIBED IN SECTION 5.6(a), LICENSOR
DISCLAIMS ANY AND ALL WARRANTIES, CONDITIONS OR REPRESENTATIONS (EXPRESS OR IMPLIED, ORAL OR
WRITTEN) WITH RESPECT TO THE SUBJECT MATTER HEREOF, OR ANY PART THEREOF, INCLUDING ANY AND
ALL IMPLIED WARRANTIES OF NON-INFRINGEMENT, MERCHANTABILITY OR FITNESS OR SUITABILITY FOR
ANY PURPOSE (WHETHER ANY LICENSEE KNOWS, HAS REASON TO KNOW, HAS BEEN ADVISED, OR IS
OTHERWISE IN FACT AWARE OF ANY SUCH PURPOSE) WHETHER ALLEGED TO ARISE BY LAW, BY REASON OF
CUSTOM OR USAGE IN THE TRADE OR BY COURSE OF DEALING.

     5.7 Indemnification.

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

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

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

5.9 In the Event of Termination. In the event of termination of this Agreement pursuant to
Section 6.4 or otherwise, the Licensees’ right to utilize or possess the Marks licensed
under this Agreement shall automatically cease, and concurrently with such termination of
this Agreement, the Licensees shall (i) cease all use of the Marks and shall adopt new
trademarks, service marks, and trade names that are not confusingly similar to the Marks and
(ii) no later than ninety (90) days following the termination of this Agreement, the General
Partner shall have caused each of the Partnership Entities to change its legal name so that
there is no longer any reference therein to the name “Williams” or any variation, derivation
or abbreviation thereof, and in connection therewith, the General Partner shall cause each
such Partnership Entity to make all necessary filings of certificates with the Secretary of
State of the State of Delaware and to otherwise amend its Organizational Documents by such
date.

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5.10 Acknowledgment. Each member of the Partnership Group hereby acknowledges that Williams
is a party to this Agreement only for purposes of the provisions of this Article V and
Article VI only and no other provision of this Agreement.

ARTICLE VI

Miscellaneous

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

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

	 	 	 
	 

	 	For notices to The Williams Companies, Inc., Williams Energy Services,
	 

	 	LLC; Williams Energy, L.L.C.; Williams Discovery Pipeline LLC,
	 

	 	Williams Partners Holdings LLC or Williams Partners GP LLC:
	 
	 	 
	 

	 	One Williams Center
	 

	 	Tulsa, Oklahoma 74172
	 

	 	Phone: (918) 573-2000
	 

	 	Fax: (918) 573-5942
	 

	 	Attention: General Counsel
	 
	 	 
	 

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

Operating LLC:
	 
	 	 
	 

	 	One Williams Center
	 

	 	Tulsa, Oklahoma 74172
	 

	 	Phone: (918) 573-2000
	 

	 	Fax: (918) 573-5942
	 

	 	Attention: General Counsel

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

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

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

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

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

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

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

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

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

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

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

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

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

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

	 	 	 	 	 	 	 
	 	 	WILLIAMS ENERGY SERVICES, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Alan S. Armstrong	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Alan S. Armstrong	 	 
	 

	 	 	 	Title: Senior Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	WILLIAMS ENERGY, L.L.C.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Alan S. Armstrong	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Alan S. Armstrong	 	 
	 

	 	 	 	Title: Senior Vice President and General
Manager 

           — Business Development	 	 
	 
	 	 	 	 	 	 
	 	 	WILLIAMS DISCOVERY PIPELINE LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Alan S. Armstrong	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Alan S. Armstrong	 	 
	 

	 	 	 	Title: Senior Vice President and General Manager	 	 
	 
	 	 	 	 	 	 
	 	 	WILLIAMS PARTNERS HOLDINGS LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Alan S. Armstrong	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Alan S. Armstrong	 	 
	 

	 	 	 	Title: Chief Operating Officer	 	 
	 
	 	 	 	 	 	 
	 	 	WILLIAMS PARTNERS GP LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Alan S. Armstrong	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Alan S. Armstrong	 	 
	 

	 	 	 	Title: Chief Operating Officer	 	 

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

	 	 	 	By:
	 	/s/ Alan S. Armstrong	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name: Alan S. Armstrong	 	 
	 

	 	 	 	 	 	Title: Chief Operating Officer	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	WILLIAMS PARTNERS OPERATING LLC	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	WILLIAMS PARTNERS L.P., its sole member	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	Williams Partners GP LLC, its general partner	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ Alan S. Armstrong	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name: Alan S. Armstrong	 	 
	 

	 	 	 	 	 	Title: Chief Operating Officer	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	THE WILLIAMS COMPANIES, INC. (For
      purposes of
Articles V and VI only)	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Donald R. Chappel	 	 
	 	 	 	 	 	 	 
	 	 	 	 	Name: Donald R. Chappel	 	 
	 	 	 	 	Title: Senior Vice President and Chief Financial Officer	 	 

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Schedule I

Marks

The Williams name and logo necessary for the following MLP name and logo:

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Schedule II

Conway Plumes

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

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

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

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