Document:

Amendment No. 1 to the Tax Matters Agreement

 Exhibit 10.3 
  
 Execution Copy 
  
 FIRST AMENDMENT 
 TO 
 SEPARATION AND DISTRIBUTION AGREEMENT 
  
 THIS FIRST AMENDMENT TO SEPARATION AND DISTRIBUTION AGREEMENT (this “Amendment”) is entered into as of January 1, 2007 (the “Effective Date”), by and between Duke Energy Corporation, a
Delaware corporation (“Duke Energy”), and Spectra Energy Corp (f/k/a Gas SpinCo, Inc.), a Delaware corporation (“Spectra Energy”), each a “Party” and together, the “Parties”.

  
 R E C I T A L S: 
  
 WHEREAS, the Parties have entered into that certain Separation and Distribution
Agreement dated as of December 13, 2006 (the “Separation and Distribution Agreement”); and 
  
 WHEREAS, each Party has determined that it is in the best interests of its stockholders to amend the Separation and Distribution Agreement as described in this
Amendment. 
  
 NOW, THEREFORE, in consideration of the foregoing premises,
the mutual promises and covenants hereinafter set forth, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, agree, effective as of the Effective Date,
as follows: 
  
 1. Definitions. 
  
 All capitalized terms used herein and not otherwise defined herein shall have the
respective meanings set forth (or otherwise provided for) in the Separation and Distribution Agreement. 
  
 2. Amendment to Modify Schedule 1.1(48) (Duke Energy Group Entities). 
  
 The Schedules to the Separation and Distribution Agreement are hereby amended by: 
  
 (i) adding the following Business Entity to the list of Business Entities listed on Schedule 1.1(48) (Duke Energy
Group Entities): “Energy Pipelines International Company”; and 
  
 (ii) deleting the following Business Entity from the list of Business Entities listed on Schedule 1.1(48) (Duke Energy Group Entities): “Duke Energy Exchangeco Finance Co.”. 
  
 3. Amendment to Modify Schedule 1.1(104)(a) (Companies Considered PanEnergy Companies).

  
 The Schedules to the Separation and Distribution Agreement are hereby
amended by adding the following item 13 to the list of PanEnergy Companies listed on Schedule 1.1(104(a) (Companies Considered PanEnergy Companies): 
  
 “13. Energy Pipelines International Company 
  
 — Will cease to be an indirect subsidiary of Duke Capital LLC and become a member of the Duke Energy Group.” 
  
 4. Amendment to Modify Schedule 1.1(129) (Spectra Energy Group Entities). 
  
 The Schedules to the Separation and Distribution Agreement are hereby amended by:

  
 (i) deleting the following Business Entity from the
list of Business Entities listed on Schedule 1.1(129) (Spectra Energy Group Entities): “Energy Pipelines International Company”; and 
  
 (ii) adding the following Business Entity to the list of Business Entities listed on Schedule1.1(129) (Spectra Energy Group Entities): “Duke
Energy Exchangeco Finance Co.”. 

 5. Amendment to Modify Schedule 2.5(a) (Certain Spectra Energy Bank and Brokerage Accounts). 
  
 The Schedules to the Separation and Distribution Agreement are hereby amended by:

  
 (i) adding the following bank account to the list of
bank and brokerage accounts listed on Schedule 2.5(a) (Certain Spectra Energy Bank and Brokerage Accounts): “SCOTIA—100090404217—WESTCOAST ENERGY INTERNATIONAL INC.”; and 
  
 (ii) deleting the following eight bank accounts from the list of bank
and brokerage accounts listed on Schedule 2.5(a) (Certain Spectra Energy Bank and Brokerage Accounts): (1) “JPMorgan Chase Bank—601807514—PAN SERVICE COMPANY”, (2) “JPMorgan Chase Bank—9102771194—PAN
SERVICE COMPANY”, (3) “SCOTIA—100090102113—ZWICK PLUMBING (construction acct)”, (4) “SCOTIA—100090116114—PATCH POINT (construction acct)”, (5) “SCOTIA—100090271411—WL
CONSTRUCTION (construction acct)”, (6) “SCOTIA—100090274615—FLINT FIELD (construction acct)”, (7) “SCOTIA—129890013110—TWIN RIVERS 1981 LTD. (construction acct)”, and
(8) “SCOTIA—129890017310—PAUL PAQUETTE & SONS (construction acct)”. 
  

	6.	Amendment to Modify Schedule 2.5(b) (Duke Energy Bank and Brokerage Accounts Currently Owned by Duke Capital Subsidiaries). 

  
 The Schedules to the Separation and Distribution Agreement are hereby amended by: 
  
 (i) adding the following two bank accounts to the list of bank and
brokerage accounts listed on Schedule 2.5(b) (Duke Energy Bank and Brokerage Accounts Currently Owned by Duke Capital Subsidiaries): (1) “JPMorgan Chase Bank—601807514—PAN SERVICE COMPANY”, and (2) “JPMorgan Chase
Bank—9102771194—PAN SERVICE COMPANY”; and 
  
 (ii) adding the following provisions after the list of bank and brokerage accounts listed on Schedule 2.5(b) (Duke Energy Bank and Brokerage Accounts Currently Owned by Duke Capital Subsidiaries): 
  
 “Spectra Energy shall reimburse Duke Energy for all payments
(i) made out of either of the two JPMorgan Chase Bank bank accounts (Acct. Nos. 601807514 and 9102771194) referenced in the list above, and (ii) that relate to the Gas Business. Such reimbursement shall occur within one Business Day of
Spectra Energy’s receipt of a bill and, if applicable, reasonable supporting documentation, and be by wire transfer to a bank account designated by Duke Energy.” 
  
 7. Miscellaneous. 
  
 All Sections under Article XI of the Separation and Distribution Agreement are hereby incorporated in this Amendment by this reference, provided that any references
in such Sections to the “Agreement” or similar references shall be substituted for references to this Amendment. Except as modified herein, the terms of the Separation and Distribution Agreement remain in full force and effect, and all
references therein to the “Agreement” shall be deemed to mean the Separation and Distribution Agreement as amended by this Amendment. Execution of this Amendment by facsimile or other electronic copy of a signature shall be deemed to be,
and shall have the same effect as, execution by original signature. 
  
 [Signature Page Follows] 

 IN WITNESS WHEREOF, the Parties caused this First Amendment to Separation and Distribution Agreement to be duly
executed, all effective as of the Effective Date. 
  

			
	 Duke Energy:

	
	 DUKE ENERGY CORPORATION

		
	 By:
	 	 /s/    DAVID L. HAUSER        

	 Name:
	 	 David L. Hauser

	 Title:
	 	 Group Executive and
 Chief Financial
Officer

	
	 Spectra Energy:

	
	 SPECTRA ENERGY CORP

		
	 By:
	 	 /s/    WILLIAM S. GARNER,
JR.        

	 Name:
	 	 William S. Garner, Jr.

	 Title:
	 	 Group Executive, General Counsel and SecretaryAmendment No. 1 to the Transition Services Agreement

 Exhibit 10.4 
  
 Execution Copy 
  
 FIRST AMENDMENT 
 TO 
 TRANSITION SERVICES AGREEMENT 
  
 THIS FIRST AMENDMENT TO TRANSITION SERVICES AGREEMENT (this “Amendment”) is entered into as of January 1, 2007 (the “Effective Date”), by and between Duke Energy Corporation, a Delaware corporation
(“Duke Energy”), and Spectra Energy Corp (f/k/a Gas SpinCo, Inc.), a Delaware corporation (“Spectra Energy”), each a “Party” and together, the “Parties”. 
  
 R E C I T A L S: 
  
 WHEREAS, the Parties have entered into that certain Transition Services Agreement dated as of December 13, 2006 (the
“Transition Services Agreement”); and 
  
 WHEREAS, each
Party has determined that it is in the best interests of its stockholders to amend the Transition Services Agreement as described in this Amendment. 
  
 NOW, THEREFORE, in consideration of the foregoing premises, the mutual promises and covenants hereinafter set forth, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, agree, effective as of the Effective Date, as follows: 
  

	1.	Definitions. All capitalized terms used herein and not otherwise defined herein shall have the respective meanings set forth (or otherwise provided for) in the Transition Services
Agreement. 

  

	2.	Amendment to Defined Terms “Duke Energy Services” and “Spectra Energy Services”. Section 1 of the Transition Services Agreement is hereby amended by
deleting the defined terms “Duke Energy Services” and “Spectra Energy Services” in their entireties and substituting in lieu thereof the following: 

  
 “Duke Energy Services” shall mean the limited enumerated services described on Schedule A-1,
Schedule A-2, Schedule A-3 of the Schedules to Transition Services Agreement document attached hereto and each next consecutive Schedule A through and including Schedule A-47 included therein. 
  
 “Spectra Energy Services” shall mean the limited
enumerated services described on Schedule B-1, Schedule B-2, Schedule B-3 of the Schedules to Transition Services Agreement document attached hereto and each next consecutive Schedule B through and including Schedule B-15
included therein. 
  

	3.	Amendment to Section 3.1(a) (Fees). Section 3.1(a) of the Transition Services Agreement is hereby amended by adding the following clause after the words “then the Fee
applicable to such Service shall be increased by 10% for the remainder of the applicable Services Term” at the end of such Section: 

  
 “; provided, further, however, such 10% increase shall not apply to the Fee applicable to any of the Services described on Schedules A-3,
A-4, A-6, A-7, A-11, A-13, A-14, A-16, A-19, A-20, or A-36 of this Agreement.” 
  

	4.	Amendment to Modify Schedule A-22 (Spectra Energy Consolidations Assistance). The Schedules to the Transition Services Agreement are hereby amended by deleting the phrase
“January 1, 2007 – March 31, 2007” under Part II of Schedule A-22 (Spectra Energy Consolidations Assistance) in its entirety, and substituting in lieu thereof the phrase “January 1, 2007—April 30, 2007”.

  

	5.	Amendment to Modify Schedule A-26 (Spectra Energy and DCP Midstream Payroll Accounting). The Schedules to the Transition Services Agreement are hereby amended by:

  
 (i) deleting the first sentence of
under Part I of Schedule A-26 (Spectra Energy and DCP Midstream Payroll Accounting) in its entirety, and substituting in lieu thereof the following: “Until Spectra Energy is functional on PeopleSoft 8.9, Duke Energy will provide to Spectra
Energy both labor distribution and payroll tax accrual services, provided that such services shall be limited to data relating to dates or periods on or before March 31, 2007.”; and 

 (ii) deleting the phrase “January 1, 2007—March 31, 2007” under Part II of
Schedule A-26 (Spectra Energy and DCP Midstream Payroll Accounting) in its entirety, and substituting in lieu thereof the phrase “January 1, 2007—April 30, 2007”. 
  

	6.	Amendment to Modify Schedule A-29 (Spectra Energy Corporate EHS Scientific Services Analytical Services). The Schedules to the Transition Services Agreement are hereby amended by:

  
 (i) deleting the last sentence of
Section 3) set forth in Part I of Schedule A-29 (Spectra Energy Corporate EHS Scientific Services Analytical Services) in its entirety, and substituting in lieu thereof the following: “Contract employee oversight will be provided by
Douglas Dodds, who transferred from Duke Energy to Spectra Energy effective 1/1/07.”; 
  
 (ii) deleting Section 4) set forth in Part I of Schedule A-29 (Spectra Energy Corporate EHS Scientific Services Analytical Services) in its
entirety, and substituting in lieu thereof the following: “Pipeline Gas assay analysis and data entry into the Gas Analysis System will be provided by a Contract employee under the direction of Douglas Dodds.”; and 
  
 (iii) deleting the following sentence under Part III of Schedule A-29
(Spectra Energy Corporate EHS Scientific Services Analytical Services) in its entirety: “Mr. Dodds will be billed at a monthly rate of $7550.”. 
  

	 7.
	 Amendment to Modify Schedule A-36 (DCP Midstream and Spectra Energy IT Financial Systems). The Schedules to the
Transition Services Agreement are hereby amended by (i) deleting the 10th box (titled “Treasury—TMAN (18)”) in the table set forth in Part I of Schedule A-36 (DCP Midstream and Spectra Energy IT Financial Systems)
in its entirety, and (ii) substituting in lieu thereof the following: 

  

											
	 Service
	  	 Duration
 (Mo.)
	  	 End
 Date **
	  	Spectra
Energy
Cost /
Month	  	 DCP
Midstream
 Cost /
Month

	 Corporate Applications—Mainframe Services (82) Continue to provide and support all mainframe services for all DCP Midstream applications
residing on the mainframe in Charlotte, NC.
	  	12	  	12/31/07	  	$	0	  	$	124,737

  

	 8.
	 Amendment to Modify Schedule A-37(DCP Midstream IT Infrastructure). The Schedules to the Transition Services Agreement are
hereby amended by (i) deleting the 8th box (titled “Server Operations—SAN (DCP Midstream 115)”) in the table set forth in Part I of Schedule A-37 (DCP Midstream IT Infrastructure) in its entirety, and
(ii) substituting in lieu thereof the following: 

  

							
	 Service
	  	 Duration
 (Mo.)
	  	 End
 Date
	  	Cost /
Month
	 Server Operations—SAN (DCP Midstream 115): Continuation of services for SAN support as currently provided,
including the shared EMS NASes (Charlotte and Denver) for all DCP Midstream locations. Requires 24x7 monitoring, proactive problem resolution, capacity planning, hardware and software maintenance. Continuation of services for all Storage related
services.
 Continuation of tape library maintenance services including back-up and restore operations, tape retention,
disaster recovery, etc. for all DCP Midstream locations. Notwithstanding the foregoing, starting 2/1/07, DCP Midstream will lease the server directly from EMC, and EMC will bill DCP Midstream directly for goods and services provided under such
lease.
	  	12	  	12/31/07	  	$59,862
until
1/31/07.
Then
$17,993
until
12/31/07.

  

	 9.
	 Amendment to Modify Schedule A-41 (Spectra Energy Email Services). The Schedules to the Transition Services Agreement are
hereby amended by deleting the 2nd box (titled “Litigation Archiving (19)”) in the table set forth in Part I of Schedule A-41 (Spectra Energy Email Services) in its entirety. 

  

	 10.
	 Amendment to Modify Schedule A-46 (Spectra Energy IT Telecommunications/Network). The Schedules to the Transition Services
Agreement are hereby amended by deleting the 9th box (titled “Voice-Conferencing (198)”) in the table set forth in Part I of Schedule A-46 (Spectra Energy IT Telecommunications/Network) in its entirety (the Duke Energy
Services identified in that 9th box are duplicate of those identified in the 8th box of that table). 

  

	11.	Amendment to Add Schedule A-47 (Spectra Energy Chairman’s Administrative Support). The Schedules to the Transition Services Agreement are hereby amended by adding a new Schedule
A-47 thereto in the form attached as Exhibit A to this Amendment. 

	 12.
	 Amendment to Modify Schedule A-48 (DCP Midstream IT Services). The Schedules to the Transition Services Agreement are hereby
amended by deleting the 6th box (titled “WEB Content Filtering (190)”) in the table set forth in Part I of Schedule A-48 (DCP Midstream IT Services) in its entirety (the Duke Energy Services identified in that
6th box are duplicate of those identified in the 1st box of that table). 

  

	 13.
	 Amendment to Modify Schedule B-13 (Duke Energy—Telecom, Workstation, Server Services). The Schedules to the Transition
Services Agreement are hereby amended by deleting the 2nd box (titled “Deskside support . (R-56)”) in the table set forth in Part I of Schedule B-13 (Duke Energy—Telecom, Workstation, Server Services) in its entirety.

  

	14.	Amendment to Add Schedule B-15 (IT Consultation Services). The Schedules to the Transition Services Agreement are hereby amended by adding a new Schedule B-15 thereto in the form attached
as Exhibit B to this Amendment. 

  

	15.	Miscellaneous. All Sections under Section 15 of the Transition Services Agreement are hereby incorporated in this Amendment by this reference, provided that any references in such
Sections to the “Agreement” or similar references shall be substituted for references to this Amendment. Except as modified herein, the terms of the Transition Services Agreement remain in full force and effect, and all references therein
to the “Agreement” shall be deemed to mean the Transition Services Agreement as amended by this Amendment. Execution of this Amendment by facsimile or other electronic copy of a signature shall be deemed to be, and shall have the same
effect as, execution by original signature. 

  
 [Signature
Page Follows] 

 IN WITNESS WHEREOF, the Parties caused this First Amendment to Transition Services Agreement to be duly executed,
all effective as of the Effective Date. 
  

			
	 Duke Energy:

	 DUKE ENERGY CORPORATION

		
	 By:
	 	 /s/    DAVID L. HAUSER        

	 Name:
	 	 David L. Hauser

	 Title:
	 	 Group Executive and
 Chief Financial
Officer

	
	 Spectra Energy:

	 SPECTRA ENERGY Corp

		
	 By:
	 	 /s/    WILLIAM S. GARNER,
JR.        

	 Name:
	 	 William S. Garner, Jr.

	 Title:
	 	 Group Executive, General Counsel and Secretary

 EXHIBIT A 
  
 SCHEDULE A-47 
  
 Service Name:    SPECTRA ENERGY CHAIRMAN’S ADMINISTRATIVE SUPPORT 
  

	I.	SCOPE OF SERVICES 

  
 Administrative Assistance—Duke Energy, via Phyllis Simpson, will provide administrative services to Spectra Energy’s Chairman. Assistance will be provided
to Paul Anderson, the Chairman of Spectra Energy, on an ad-hoc reasonable basis, provided that such assistance shall not exceed 10% of Phyllis Simpson full-time monthly workload at Duke Energy. 
  

	II.	SERVICES TERM 

  
 January 1, 2007—March 31, 2007 
  

	III.	FEES 

  
 Administrative Fee: 
  
 $2,490/month,
plus applicable expenses 
  

	IV.	ADDITIONAL TERMS AND CONDITIONS 

  
 None. 
  

	V.	CONTACTS 

  

							
	Service Provider:	  	Service Recipient:
	Attn:	  	 Julie Janson
 Phone: 513-287-3025
 Mobile: 513-315-5417
 Facsimile: 513-287-3810
 E-mail: Julie.janson@duke-energy.com
	  	Attn:	  	 Trish Rice
 Phone: 713-627-6112
 Mobile: 713-870-3628
 Facsimile: 713-627-4668
 E-mail: trice@duke-energy.com

 EXHIBIT B 
  
 SCHEDULE B-15 
  
 Service Name:    IT CONSULTATION SERVICES 
  

	I.	SCOPE OF SERVICES 

  

	A.	IT APPS: Spectra Energy will make Glenn Dally available to Duke Energy, during the term and at the fee provided below, so that Mr. Dally can continue to manage a team of
application developers who are doing work for Duke Energy and/or its subsidiaries. Mr. Dally transferred from Duke Energy to Spectra Energy effective 1/1/07. 

	B.	IT OPS: Spectra Energy will make Andy Hui available to Duke Energy, during the term and at the fee provided below, so that Mr. Hui can continue to work on the Duke Energy Helpdesk
assisting employees of Duke Energy and/or its subsidiaries with issues related to migration from Lotus Notes to MS Outlook and other IT support issues. Mr. Hui transferred from Duke Energy to Spectra Energy effective 1/1/07.

  

	II.	SERVICES TERM 

  

	A.	IT APPS: January 1, 2007—January 25, 2007. 

	B.	IT OPS: January 1, 2007—January 15, 2007. 

  

	III.	FEES 

  

	A.	IT APPS: $80.00/ hour, plus out-of-pocket expenses. 

	B.	IT OPS: $61.00/ hour, plus out-of-pocket expenses. 

  

	IV.	ADDITIONAL TERMS AND CONDITIONS 

  
 Spectra Energy will provide Duke Energy with a statement of services provided, along with associated fees, at time of monthly billing. 
  

	V.	CONTACTS 

  

							
	Service Provider:	  	Service Recipient:
	 Attn:
	  	 Steve Craft
 Phone: 713-627-4310
 Mobile: 713-447-4310
 Facsimile: 713-627-4066
 E-mail: swcraft@spectraenergy.com
	  	 Attn:
	  	 Stan Land
 Phone: 713-627-4515
 Mobile: 713-204-7397
 Facsimile: 713-627-4655
 E-mail: scland@duke-energy.com

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