Document:

Exhibit 4.1

Exhibit 4.1

THIRD AMENDMENT TO RIGHTS AGREEMENT

THIS THIRD AMENDMENT TO RIGHTS AGREEMENT (this “Amendment”) is made as of January 18, 2010,
between The Allied Defense Group, Inc., formerly known as Allied Research Corporation, a Delaware
corporation (the “Company”), and Mellon Investor Services LLC, a New Jersey limited liability
company (the “Rights Agent”).

WHEREAS, the Company and the Rights Agent are parties to that certain Rights Agreement dated
as of June 6, 2001, as amended by that certain First Amendment to Rights Agreement dated as of June
15, 2006, as further amended by that certain Second Amendment to Rights Agreement dated as of
November 30, 2006 (collectively, the “Current Rights Agreement”);

WHEREAS, Chemring Group PLC, a company organized under the laws of England and Wales
(“Parent”), Melanie Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of Parent
(“Merger Sub”), and the Company have entered into an Agreement and Plan of Merger (as amended from
time to time, the “Merger Agreement”) pursuant to which, among other things, Merger Sub will merge
with and into the Company with the Company being the surviving corporation and a wholly-owned
subsidiary of Parent (the “Merger”);

WHEREAS, on January
17, 2010, the Board of Directors of the Company resolved to amend the
Current Rights Agreement to render it inapplicable to the Merger Agreement, the Merger and the
other transactions contemplated by the Merger Agreement and to provide that the Current Rights
Agreement will expire immediately prior to the effective time of the Merger;

WHEREAS, Section 26 of the Current Rights Agreement provides, in part, that for so long as the
Rights (as defined in the Current Rights Agreement) are redeemable, the Current Rights Agreement
may be supplemented or amended without the approval of holders of the Rights;

WHEREAS, the Rights are currently redeemable; and

WHEREAS, the Board of Directors of the Company has determined in good faith that the
amendments to the Current Rights Agreement set forth herein are desirable and, pursuant to Section
26 of the Current Rights Agreement, has duly authorized such amendments to the Current Rights
Agreement.

 

 

 

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Company and the Rights Agent hereby agree as follows:

1. DEFINITIONS. Except as otherwise set forth in this Amendment, each capitalized term used
in this Amendment shall have the meaning for such term set forth in the Current Rights Agreement.

2. DEFINITION OF AGREEMENT. From and after the date hereof, all references in the Current
Rights Agreement to the “Agreement” shall mean and refer to the Current Rights Agreement, as
modified by this Amendment.

3. AMENDMENTS TO THE CURRENT RIGHTS AGREEMENT. The Current Rights Agreement is hereby amended
as follows:

3.1 New Definitions. Section 1 of the Current Rights Agreement is hereby amended by inserting
the following subsections at the end of such Section 1:

“(ff) “Effective Time” shall have the meaning set forth in the Merger Agreement.

(gg) “Merger” shall have the meaning set forth in the Merger Agreement.

(hh) “Merger Agreement” shall mean the Agreement and Plan of Merger, dated as of January
18, 2010,
among Chemring Group PLC, a company organized under the laws of England and Wales (“Parent”),
Melanie Merger Sub Inc., a Delaware corporation (“Merger Sub”), and the Company, as it may be
amended from time to time.”

3.2 Amendment to Definition of “Acquiring Person.” Section 1(a) of the Current Rights
Agreement is hereby amended by inserting the following sentences at the end of such Section 1(a):

“Notwithstanding anything in this Agreement to the contrary, none of Parent, Merger Sub or any of
their respective Subsidiaries, Affiliates or Associates is, nor shall any of them be deemed to be,
an Acquiring Person solely by reason of (i) the approval, adoption, execution or delivery of the
Merger Agreement, (ii) the approval, adoption or consummation of the Merger, (iii) the approval or
consummation of any other transaction contemplated by the Merger Agreement, (iv) the conversion of
each share of Common Stock issued and outstanding immediately prior to the Effective Time into the
right to receive the Per Share Merger Consideration (as defined in the Merger Agreement), (v) the
conversion of each share of common stock of Merger Sub issued and outstanding immediately prior to
the Effective Time into shares of common stock of the Surviving Corporation (as defined in the
Merger Agreement), or (vi) the announcement of any of the foregoing, it being the purpose of the
Company that neither the execution of the Merger Agreement by any of the parties thereto nor the
consummation of the transactions contemplated thereby shall in any respect give rise to the
existence of any Acquiring Person, Beneficial Owner, Distribution Date, Stock Acquisition Date or
Trigger Event. Each event described in subclauses (i) through (vi) of the preceding sentence are
referred to herein as an “Exempted Transaction.”

3.3 Amendment to the Definition of “Beneficial Owner.” Section 1(e) of the Current Rights
Agreement is hereby amended by inserting the following sentence at the end of Section 1(e):

“Notwithstanding anything in this Agreement to the contrary, none of Parent, Merger Sub or any of
their respective Subsidiaries, Affiliates or Associates shall be deemed to be a Beneficial
Owner of, or to beneficially own, any securities solely by virtue of, or as a result of, any
Exempted Transaction.”

 

 

 

3.4 Amendment to the Definition of “Distribution Date.” Section 1(m) of the Current Rights
Agreement is hereby amended by inserting the following sentence at the end of Section 1(m):

“Notwithstanding anything in this Agreement to the contrary, a Distribution Date shall not occur or
be deemed to have occurred by virtue of, or as a result of, any Exempted Transaction.”

3.5 Amendment to the Definition of “Stock Acquisition Date.” Section 1(bb) of the Current
Rights Agreement is hereby amended by inserting the following sentence at the end of Section 1(bb):

“Notwithstanding anything in this Agreement to the contrary, a Stock Acquisition Date shall not
occur or be deemed to have occurred by virtue of, or as a result of, any Exempted Transaction.”

3.6 Amendment to the Definition of “Trigger Event.” Section 1(ee) of the Current Rights
Agreement is hereby amended by inserting the following sentence at the end of Section 1(ee):

“Notwithstanding anything in this Agreement to the contrary, a Trigger Event shall not occur or be
deemed to have occurred by virtue of, or as a result of, any Exempted Transaction.”

3.7 Amendment to Section 7(b). Section 7(b) of the Current Rights Agreement is hereby amended
by inserting the following sentence at the end of Section 7(b):

“Notwithstanding anything in this Agreement to the contrary, the provisions of this Section 7(b)
shall not apply by virtue of, or as a result of, any Exempted Transaction.”

3.8 Amendment to Section 7(e). Section 7(e) of the Current Rights Agreement is hereby amended
by inserting the following sentence at the end of Section 7(e):

“Notwithstanding anything in this Agreement to the contrary, the provisions of this Section 7(e)
shall not apply by virtue of, or as a result of, any Exempted Transaction.”

3.9 Amendment to Section 11. Section 11 of the Current Rights Agreement is hereby amended by
inserting the following provision at the end of such section as a new subsection 11(k):

“Notwithstanding anything in this Agreement to the contrary, the provisions of this Section 11
shall not apply by virtue of, or as a result of, any Exempted Transaction.”

 

 

 

3.10 Amendment to Section 13. Section 13 of the Current Rights Agreement is hereby amended by
inserting the following subsection at the end of Section 13:

“(h) Notwithstanding anything in this Agreement to the contrary, the provisions of Section 13
shall not apply by virtue of, or as a result of, any Exempted Transaction.”

3.11 Amendment to Section 24. Section 24 of the Current Rights Agreement is hereby amended by
inserting the following sentence at the end thereof:

“Notwithstanding anything in this Agreement to the contrary, the Company shall not be required to
give any notice contemplated by this Section 24 by virtue of, or as a result of, any Exempted
Transaction.”

3.12 Amendment to Section 28. Section 28 of the Current Rights Agreement is hereby amended by
inserting the following sentence at the end thereof:

“Further, nothing in this Agreement shall be construed to give any holder of Rights or any other
Person any legal or equitable right, remedy or claim under this Agreement by virtue of, or as a
result of, any Exempted Transaction.”

3.13 Addition of Section 35. A new Section 35 is hereby added to the end of the Current
Rights Agreement, which new Section 35 shall read in its entirety as follows:

“SECTION 35. Termination. Immediately prior to the earlier of (i) the Expiration Date or (ii) the
Effective Time, but only if such Effective Time shall occur, (A) this Agreement shall be terminated
and be without any force or effect, (B) none of the parties to this Agreement will have any rights,
obligations or liabilities thereunder and (C) the holders of the Rights shall not be entitled to
any benefits, rights or other interests under this Agreement; provided, however, that the Company
shall give the Rights Agent prompt written notice of the Effective Time. Until such notice is
received by the Rights Agent, the Rights Agent may presume conclusively for all purposes that the
Effective Time has not occurred.”

4. COUNTERPARTS. This Amendment may be executed in one or more counterparts, each of which
shall constitute an original and all of which together shall constitute but one original; provided,
however, this Amendment shall not be effective unless and until signed by the Company and the
Rights Agent.

5. GOVERNING LAW. This Amendment shall be deemed to be a contract made under the laws of the
State of Delaware and for all purposes shall be governed by and construed in accordance with the
internal laws of Delaware applicable to contracts to be made and performed entirely within
Delaware; provided, however, that all provisions regarding the rights, duties and obligations of
the Rights Agent shall be governed by and construed in accordance with the laws of the State of New
York applicable to contracts made and to be performed entirely within such State.

6. SEVERABILITY. If any term, provision, covenant or restriction of this Amendment is held by
a court of competent jurisdiction to be invalid, void or unenforceable, the remained of the terms,
provisions, covenants and restrictions of this Amendment shall remain in full force and effect and
shall in no way be affected, impaired or invalidated.

 

 

 

7. EFFECTIVENESS. This Amendment shall become effective as of the date first written above
and shall be deemed effective prior to, and shall be subject to, the execution and delivery of the
Merger Agreement.

8. CERTIFICATION. The Company hereby certifies to the Rights Agent that this Amendment is in
compliance with Section 26 of the Current Rights Agreement.

9. FULL FORCE AND EFFECT. The Current Rights Agreement, as amended by this Amendment, shall
remain in full force and effect in accordance with its terms. In the event of any conflict,
inconsistency or incongruity between any provision of this Amendment and any provision of the
Current Rights Agreement, the provisions of this Amendment shall govern and control. Without
limiting the foregoing, the Rights Agent shall not be subject to, nor required to interpret or
comply with, or determine if any other Person has complied with, the Merger Agreement, even though
reference thereto may be made in this Amendment and the Current Rights Agreement.

[Signature page follows]

 

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of
the date first above written.

	 	 	 	 	 
	 	THE ALLIED DEFENSE GROUP, INC.

 	 
	 	By:  	/s/ John J. Marcello
 	 
	 	 	Name:  	John J. Marcello 	 
	 	 	Title:  	Chief Executive Officer and President 	 
	 
	 	MELLON INVESTOR SERVICES LLC,
 as Rights Agent

 	 
	 	By:  	/s/ Judy Hsu
 	 
	 	 	Name:  	Judy Hsu 	 
	 	 	Title:  	Vice President, Relationship Managerexv10w1

Execution Version

CONTRIBUTION AGREEMENT

BY AND AMONG

WILLIAMS GAS PIPELINE COMPANY, LLC,

WILLIAMS ENERGY SERVICES, LLC,

WGP GULFSTREAM PIPELINE COMPANY, L.L.C.,

WILLIAMS PARTNERS GP LLC,

WILLIAMS PARTNERS L.P.

AND

WILLIAMS PARTNERS OPERATING LLC

AND, SOLELY WITH RESPECT TO SECTION 9.11,

THE WILLIAMS COMPANIES, INC.

January 15, 2010

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page
	ARTICLE 1 DEFINITIONS
	 	 	2	 
	1.1 Definitions
	 	 	2	 
	1.2 Construction
	 	 	11	 
	ARTICLE 2 CONVEYANCE AND CLOSING
	 	 	11	 
	2.1 Conveyance
	 	 	11	 
	2.2 Consideration
	 	 	12	 
	2.3 Closing and Closing Deliveries
	 	 	12	 
	2.4 True-Up of Expenses
	 	 	14	 
	2.5 Working Capital Adjustment
	 	 	14	 
	2.6 Net Accumulated Cash Flow Adjustment
	 	 	16	 
	ARTICLE 3 REPRESENTATIONS AND WARRANTIES OF THE CONTRIBUTING PARTIES
	 	 	18	 
	3.1 Organization
	 	 	18	 
	3.2 Authority and Approval
	 	 	19	 
	3.3 No Conflict; Consents
	 	 	20	 
	3.4 Capitalization; Title to Membership and Limited Partner Interests
	 	 	21	 
	3.5 SEC Documents; Internal Controls
	 	 	23	 
	3.6 Financial Statements; Undisclosed Liabilities
	 	 	24	 
	3.7 Contributed Interests
	 	 	25	 
	3.8 Real Property; Rights of Way
	 	 	25	 
	3.9 Litigation; Laws and Regulations
	 	 	26	 
	3.10 No Adverse Changes
	 	 	26	 
	3.11 Taxes
	 	 	27	 
	3.12 Environmental Matters
	 	 	27	 
	3.13 Condition of Assets
	 	 	28	 
	3.14 Licenses; Permits
	 	 	28	 
	3.15 Contracts
	 	 	29	 
	3.16 Employees and Employee Benefits
	 	 	31	 
	3.17 Labor Matters
	 	 	33	 
	3.18 Transactions with Affiliates
	 	 	33	 
	3.19 Insurance
	 	 	33	 
	3.20 Intellectual Property Rights
	 	 	33	 
	3.21 Investment Company Act
	 	 	34	 
	3.22 Brokerage Arrangements
	 	 	34	 
	3.23 Liabilities Associated with Natural Gas Contracts
	 	 	34	 
	3.24 Books and Records
	 	 	34	 
	3.25 Investment Intent
	 	 	35	 
	3.26 Waivers and Disclaimers
	 	 	35	 
	ARTICLE 4 REPRESENTATIONS AND WARRANTIES OF THE PARTNERSHIP PARTIES
	 	 	36	 
	4.1 Organization and Existence
	 	 	36	 
	4.2 Authority and Approval
	 	 	37	 
	4.3 No Conflict; Consents
	 	 	37	 
	4.4 Brokerage Arrangements
	 	 	38	 
	4.5 Litigation
	 	 	38	 

i

 

Table of Contents

(Continued)

	 	 	 	 	 
	 	 	Page
	4.6 Valid Issuance; Listing
	 	 	39	 
	ARTICLE 5 ADDITIONAL AGREEMENTS, COVENANTS, RIGHTS AND OBLIGATIONS
	 	 	39	 
	5.1 Operation of the Transferred Assets and Transferred Businesses
	 	 	39	 
	5.2 Access
	 	 	42	 
	5.3 Cooperation; Further Assurances
	 	 	42	 
	5.4 New York Stock Exchange Approval
	 	 	43	 
	5.5 Termination of Working Capital Agreement
	 	 	43	 
	5.6 Continuation of Cash Management Program
	 	 	43	 
	5.7 Preparation of Transferred Businesses Financial Statements
	 	 	44	 
	5.8 Payment of Fee in Certain Circumstances
	 	 	44	 
	ARTICLE 6 CONDITIONS TO CLOSING
	 	 	44	 
	6.1 Conditions to the Obligation of the Partnership Parties
	 	 	44	 
	6.2 Conditions to the Obligation of the Contributing Parties
	 	 	46	 
	ARTICLE 7 TAX MATTERS
	 	 	48	 
	7.1 Liability for Taxes
	 	 	48	 
	7.2 Tax Returns
	 	 	50	 
	7.3 Tax Treatment of Indemnity Payments
	 	 	51	 
	7.4 Transfer Taxes
	 	 	51	 
	7.5 Survival
	 	 	51	 
	7.6 Conflict
	 	 	51	 
	ARTICLE 8 TERMINATION
	 	 	51	 
	8.1 Events of Termination
	 	 	51	 
	8.2 Effect of Termination
	 	 	52	 
	ARTICLE 9 INDEMNIFICATION UPON CLOSING
	 	 	53	 
	9.1 Indemnification of the Partnership Parties
	 	 	53	 
	9.2 Indemnification of the Contributing Parties
	 	 	53	 
	9.3 Tax Indemnification
	 	 	53	 
	9.4 Survival
	 	 	54	 
	9.5 Demands
	 	 	54	 
	9.6 Right to Contest and Defend
	 	 	55	 
	9.7 Cooperation
	 	 	55	 
	9.8 Right to Participate
	 	 	56	 
	9.9 Payment of Damages
	 	 	56	 
	9.10 Limitations on Indemnification
	 	 	56	 
	9.11 Limited Williams Guarantee
	 	 	57	 
	9.12 Sole Remedy
	 	 	57	 
	ARTICLE 10 MISCELLANEOUS
	 	 	57	 
	10.1 Expenses
	 	 	57	 
	10.2 Notices
	 	 	57	 
	10.3 Governing Law
	 	 	58	 
	10.4 Public Statements
	 	 	59	 
	10.5 Entire Agreement; Amendments and Waivers
	 	 	59	 

ii

 

Table of Contents

(Continued)

	 	 	 	 	 
	 	 	Page
	10.6 Conflicting Provisions
	 	 	59	 
	10.7 Binding Effect and Assignment
	 	 	59	 
	10.8 [Reserved]
	 	 	60	 
	10.9 Severability
	 	 	60	 
	10.10 Interpretation
	 	 	60	 
	10.11 Headings and Disclosure Schedules
	 	 	60	 
	10.12 Multiple Counterparts
	 	 	60	 
	10.13 Action by Partnership Parties
	 	 	60	 

iii

 

Exhibits

	 	 	 	 	 
	Exhibit A
	 	–
	 	Applicable Ownership Percentage

	Exhibit B
	 	–
	 	Expenses

	Exhibit C
	 	–
	 	Retained Assets and Liabilities

	Exhibit D
	 	–
	 	Working Capital Target Allocations

	Exhibit E
	 	–
	 	Percentage Allocations

	Exhibit F
	 	–
	 	Form of Conveyance, Contribution and Assumption Agreement

	Exhibit G
	 	–
	 	Form of Limited Call Right Forbearance Agreement

	Exhibit H
	 	–
	 	Form of Omnibus Agreement

	Exhibit I
	 	–
	 	Form of Amendment to the Partnership Agreement

	Exhibit J
	 	–
	 	Form of Administrative Services Agreement for Employees at Transcontinental Gas Pipe Line Company, LLC

	Exhibit K
	 	–
	 	Form of Secondment Agreement among Williams, the Partnership and the General Partner

Disclosure Schedules

Prepared by the Contributing Parties:

Disclosure Schedule 2.3(c)

Disclosure Schedule 3.3

Disclosure Schedule 3.4(a)

Disclosure Schedule 3.4(b)

Disclosure Schedule 3.6(a)

Disclosure Schedule 3.6(b)

Disclosure Schedule 3.8(c)

Disclosure Schedule 3.9

Disclosure Schedule 3.10

Disclosure Schedule 3.14

Disclosure Schedule 3.15

Disclosure Schedule 3.16(a)

Disclosure Schedule 3.18

Disclosure Schedule 3.19

Disclosure Schedule 3.22

Disclosure Schedule 5.1(b)

Prepared by the Partnership Parties:

Disclosure Schedule 4.4

iv

 

CONTRIBUTION AGREEMENT

This Contribution Agreement (this “Agreement”) is made and entered into as of January 15, 2010, by
and among Williams Gas Pipeline Company, LLC, a Delaware limited liability company (“WGP”),
Williams Energy Services, LLC, a Delaware limited liability company (“WES”), WGP Gulfstream
Pipeline Company, L.L.C., a Delaware limited liability company (“WGPGPC”), Williams Partners GP
LLC, a Delaware limited liability company and the general partner of the Partnership (the “General
Partner” and together with WGP, WES and WGPGPC, the “Contributing Parties”), Williams Partners
L.P., a Delaware limited partnership (the “Partnership”), and Williams Partners Operating LLC, a
Delaware limited liability company (the “Operating Company,” and together with the Partnership, the
“Partnership Parties”), and solely with respect to Section 9.11, The Williams Companies,
Inc., a Delaware corporation (“Williams”).

W I T N E S S E T H:

WHEREAS, prior to the Closing Date, various of the Contributing Parties will be the sole members
and owners of all the membership interests in:

Marsh Resources, LLC;

Transcontinental Gas Pipe Line Company, LLC;

WGP Development, LLC;

WGPC Holdings LLC;

Williams Field Services Group, LLC;

Williams Pacific Connector Gas Operator, LLC;

Williams Pipeline GP LLC; and

Williams Pipeline Services LLC;

each of which is a Delaware limited liability company and all of which are collectively referred to
as the “Wholly Owned Entities.”

WHEREAS, prior to the Closing Date, various of the Contributing Parties will be a member or partner
of the following entities and owner of the following membership or limited partner interests:

	 	•	 	a 50.0% membership interest in Gulfstream Natural Gas System, L.L.C. (“Gulfstream”);
	 
	 	•	 	a 29.98% or less membership interest in Pacific Connector Gas Pipeline, LLC; and
	 
	 	•	 	a 29.98% or less limited partner interest in Pacific Connector Gas Pipeline, LP;

each of which is a Delaware entity and all of which are collectively referred to as the “Partially
Owned Entities.”

WHEREAS, the Contributing Parties desire to contribute all of their membership interests and
limited partner interest in the Wholly Owned Entities, Pacific Connector Gas Pipeline, LLC and
Pacific Connector Gas Pipeline, LP and a 24.5% membership interest in Gulfstream

1

 

(collectively, the “Contributed Interests”) to the Partnership pursuant to the terms of this
Agreement and the CCA Agreement in return for the payment and issuance of the Aggregate
Consideration, and the Partnership desires to receive all of such Contributed Interests in exchange
for the payment and issuance of the Aggregate Consideration in accordance with the terms of this
Agreement and the CCA Agreement.

WHEREAS, promptly following the entry into this Agreement, the Partnership will publicly announce
its intention to (i) make the WMZ Offer and (ii) increase the amount of the quarterly distribution
paid in respect of the Partnership Interests (as defined in the Partnership Agreement) after the
Closing as a result of the Transaction.

WHEREAS, promptly following the entry into this Agreement, Williams will publicly announce its
intention to commence the Williams Debt Tender.

WHEREAS, the Conflicts Committee has previously (i) received an opinion of Tudor, Pickering, Holt &
Co. Securities, Inc., the financial advisor to the Conflicts Committee, that the consideration to
be paid pursuant to the Transaction is fair to the Partnership from a financial point of view and
(ii) found the Transaction to be fair and reasonable to the Partnership and recommended that the
board of directors of the General Partner (the “Board of Directors”) approve the Transaction.

A G R E E M E N T:

NOW, THEREFORE, in consideration of the premises and the respective representations, warranties,
covenants, agreements and conditions contained herein, the parties hereto agree as follows:

ARTICLE 1

DEFINITIONS

1.1 Definitions.

The respective terms defined in this Section 1.1 shall, when used in this Agreement, have
the respective meanings specified herein, with each such definition equally applicable to both
singular and plural forms of the terms so defined:

“2009 Transferred Businesses Financial Statements” shall have the meaning ascribed to such term in
Section 5.7.

“Accounting Firm” shall have the meaning ascribed to such term in Section 2.5(b).

“Actual Expenses” shall have the meaning ascribed to such term in Section 2.4(a).

“Additional General Partner Units” shall have the meaning ascribed to such term in Section
2.2(a)(iii).

2

 

“Additional GP Interest” means the dollar amount equal to (a) 2/98ths of the product of the Issue
Price times the aggregate number of Class C Units issued in the Private Equity Placement, minus (b)
the GP Closing Quarter Distribution Reduction Amount.

“Adjustment Period” has the meaning ascribed to such term in Section 2.6(a)(i).

“Affiliate” when used with respect to a Person, means any other Person that directly or indirectly
controls, is controlled by or is under common control with such first Person; provided, however,
that (i) with respect to the Contributing Parties, the term “Affiliate” shall exclude each of the
Partnership Parties, (ii) with respect to the Partnership Parties, the term “Affiliate” shall
exclude each of the Contributing Parties and (iii) the Contributed Entities shall be deemed to be
“Affiliates” (x) prior to the Closing, of the Contributing Parties and (y) on and after the
Closing, of the Partnership Parties. No Person shall be deemed an Affiliate of any Person solely by
reason of the exercise or existence of rights, interests or remedies under this Agreement.

“Aggregate Consideration” shall have the meaning ascribed to such term in Section 2.2(a).

“Agreement” has the meaning ascribed to such term in the preamble.

“Amended Partnership Agreement” shall have the meaning ascribed to such term in Section
2.2(b).

“Ancillary Agreements” means each of the CCA Agreement, the Services Agreements, the Omnibus
Agreement and the Limited Call Right Forbearance Agreement.

“Applicable Law” has the meaning ascribed to such term in Section 3.3(a).

“Applicable Ownership Percentage” means, with respect to Taxes imposed on, incurred by or
attributable to, or Damages suffered by, incurred by or attributable to, (i) an entity listed on
Exhibit A, (ii) the Transferred Assets attributable to such entity or (iii) the portion of
the Transferred Businesses associated with such entity, the percentage listed next to such entity’s
name.

“Associated Employees” has the meaning ascribed to such term in Section 3.16(a).

“Board of Directors” has the meaning ascribed to such term in the recitals.

“Cash Consideration” shall have the meaning ascribed to such term in Section 2.2(a)(i).

“CCA Agreement” means the Conveyance, Contribution and Assumption Agreement substantially in the
form of Exhibit F hereto.

“Ceiling Amount” shall have the meaning ascribed to such term in Section 9.10(a).

“CERCLA” means the Comprehensive Environmental Response, Compensation, and Liability Act.

3

 

“Class C Closing Quarter Distribution Reduction Amount” means the amount equal to (a) the aggregate
amount that would be distributable by the Partnership with respect to the Class C Units issued in
the Private Equity Placement for the calendar quarter in which the Closing Date occurs if the
Closing Date had occurred on the first day of such calendar quarter, minus (b) the aggregate amount
actually distributable by the Partnership with respect to the Class C Units issued in the Private
Equity Placement for the calendar quarter in which the Closing Date occurs.

“Class C Units” means the Class C units representing limited partner interests in the Partnership.

“Closing” shall have the meaning ascribed to such term in Section 2.3(a).

“Closing Date” shall have the meaning ascribed to such term in Section 2.3(a).

“Closing Documents” means the Contributing Parties Closing Documents and the Partnership Parties
Closing Documents.

“Code” means the Internal Revenue Code of 1986, as amended.

“Common Units” means the common units representing limited partner interests in the Partnership.

“Conflicts Committee” means the conflicts committee of the Board of Directors.

“Contributed Companies” means the Wholly Owned Entities and the Partially Owned Entities and, if
the context so requires, their respective predecessors.

“Contributed Entities” means the Contributed Companies and the Contributed Subsidiaries.

“Contributed Interests” has the meaning ascribed to such term in the recitals.

“Contributed Subsidiaries” means the direct or indirect subsidiaries of the Contributed Companies
set out next to such Contributed Companies’ names on Disclosure Schedule 3.4(b) and, if the
context so requires, their respective predecessors.

“Contributing Indemnified Parties” shall have the meaning ascribed to such term in Section
9.2.

“Contributing Parties” has the meaning ascribed to such term in the preamble.

“Contributing Parties Aggregated Group” has the meaning ascribed to such term in Section
3.16(d).

“Contributing Parties Closing Certificates” shall have the meaning ascribed to such term in
Section 6.1(a).

“Contributing Parties Closing Documents” means the Ancillary Agreements as executed by the
Contributing Parties and their Affiliates, as applicable, and the Contributing Parties Closing
Certificates.

4

 

“control” and its derivatives, mean the possession, directly or indirectly, 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.

“Damages” means liabilities and obligations, including all losses, deficiencies, costs, expenses,
fines, interest, expenditures, claims, suits, proceedings, judgments, damages, and reasonable
attorneys’ fees and reasonable expenses of investigating, defending and prosecuting litigation;
provided, however, that with respect to any liabilities or obligations suffered or incurred by, or
attributable to, a Contributed Entity, the Partnership Indemnified Parties shall only be deemed to
have suffered or incurred liabilities or obligations to the extent of the product of the Applicable
Ownership Percentage and the total amount of such liabilities and obligations suffered or incurred
by, or attributable to, such Contributed Entity.

“Deductible Amount” shall have the meaning ascribed to such term in Section 9.10(a).

“Delaware LLC Act” means the Delaware Limited Liability Company Act, as amended.

“Delaware LP Act” means the Delaware Revised Uniform Limited Partnership Act, as amended.

“Environmental Laws” means, without limitation, the following laws, in effect as of the Closing
Date, as amended: (i) the Resource Conservation and Recovery Act; (ii) the Clean Air Act; (iii)
CERCLA; (iv) the Federal Water Pollution Control Act; (v) the Safe Drinking Water Act; (vi) the
Toxic Substances Control Act; (vii) the Emergency Planning and Community Right-to Know Act; (viii)
the National Environmental Policy Act; (ix) the Pollution Prevention Act of 1990; (x) the Oil
Pollution Act of 1990; (xi) the Hazardous Materials Transportation Act; (xii) the Occupational
Safety and Health Act; and (xiii) all laws, statutes, rules, regulations, orders, judgments,
decrees promulgated or issued with respect to the foregoing Environmental Laws by Governmental
Authorities with jurisdiction in the premises and any other federal, state or local statutes, laws,
ordinances, rules, regulations, orders, codes, decisions, injunctions or decrees that regulate or
otherwise pertain to the protection of human health, safety or the environment, including but not
limited to the management, control, discharge, emission, treatment, containment, handling, removal,
use, generation, permitting, migration, storage, release, transportation, disposal, remediation, manufacture, processing or distribution of
Hazardous Materials that are or may present a threat to human health or the environment.

“Equity Consideration” shall mean the Class C Units and the Additional General Partner Units to be
issued pursuant to Section 2.2.

“ERISA” has the meaning ascribed to such term in Section 3.16(b).

“Estimated Expenses” has the meaning ascribed to such term in Section 2.3(b).

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

“Expenses” means all expenses listed on Exhibit B hereto.

“Financial Statements” has the meaning ascribed to such term in Section 3.6(a).

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“GAAP” means generally accepted accounting principles in the United States of America.

“General Partner” has the meaning ascribed to such term in the preamble.

“General Partner Units” shall have the meaning ascribed to such term in the Partnership Agreement.

“GP Closing Quarter Distribution Reduction Amount” means the amount equal to (a) the aggregate
amount that would be distributable by the Partnership with respect to the Additional General
Partner Units for the calendar quarter in which the Closing Date occurs if the Closing Date had
occurred on the first day of such calendar quarter, minus (b) the aggregate amount actually
distributable by the Partnership with respect to the Additional General Partner Units for the
calendar quarter in which the Closing Date occurs.

“Governmental Authority” means any federal, state, municipal or other government, governmental
court, department, commission, board, bureau, agency or instrumentality.

“Gulfstream” has the meaning ascribed to such term in the recitals.

“Hazardous Materials” means any substance, whether solid, liquid, or gaseous: (i) which is listed,
defined, or regulated as a “hazardous material,” “hazardous waste,” “solid waste,” “hazardous
substance,” “toxic substance,” “pollutant,” or “contaminant,” or words of similar meaning or import
found in any applicable Environmental Law; or (ii) which is or contains asbestos, polychlorinated
biphenyls, radon, urea formaldehyde foam insulation, explosives, or radioactive materials; or (iii)
any petroleum, petroleum hydrocarbons, petroleum substances, petroleum or petrochemical products,
natural gas, crude oil and any components, fractions, or derivatives thereof, any oil or gas
exploration or production waste, and any natural gas, synthetic gas and any mixtures thereof; or
(iv) radioactive material, waste and pollutants, radiation, radionuclides and their progeny, or
nuclear waste including used nuclear fuel; or (v) which
causes or poses a threat to cause contamination or nuisance on any properties, or any adjacent
property or a hazard to the environment or to the health or safety of persons on or about any
properties.

“HSR Act” shall have the meaning ascribed to such term in Section 3.3(b).

“Indemnity Claim” shall have the meaning ascribed to such term in Section 9.5.

“Intellectual Property” means all intellectual or industrial property and rights therein, however
denominated, throughout the world, whether or not registered, including all patent applications,
patents, trademarks, service marks, trade styles or dress, mask works, copyrights (including
copyrights in computer programs, software, computer code, documentation, drawings, specifications
and data), works of authorship, moral rights of authorship, rights in designs, trade secrets,
technology, inventions, invention disclosures, discoveries, improvements, know-how, proprietary
rights, formulae, processes, methods, technical and business information, and confidential and
proprietary information, and all other intellectual and industrial property rights, whether or not
subject to statutory registration or protection and, with respect to each of the foregoing, all
registrations and applications for registration, renewals, extensions, continuations,

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reexaminations, reissues, divisionals, improvements, modifications, derivative works, goodwill, and
common law rights, and causes of action relating to any of the foregoing.

“Issue Price” means the volume weighted average closing price of a Common Unit on the NYSE for the
10-day trading period ending on the third (3rd) business day prior to the Closing Date.

“Knowledge”, as used in this Agreement with respect to a party hereof, means the actual knowledge
of that party’s designated personnel, after reasonable inquiry. The designated personnel for the
Contributing Parties are Alan Armstrong, Don Chappel, Mac Hummel, Robert Cronk, Craig Rainey, Tom
Sell, Rory Miller, Randy Newcomer, Phil Wright, Rick Rodekohr, Randy Conklin, Frank Ferazzi, Rodney
Sailor, Ted Timmermans, Allison Bridges and Randy Barnard. The designated personnel for the
Partnership Parties are Alan Armstrong, Don Chappel, Mac Hummel, Rory Miller, Randy Newcomer,
Robert Cronk, John Porter, Craig Rainey and Tom Sell.

“Lien” means any mortgage, deed of trust, lien, security interest, pledge, conditional sales
contract, charge or encumbrance.

“Limited Call Right Forbearance Agreement” means the Limited Call Right Forbearance Agreement
substantially in the form of Exhibit G hereto.

“Material Contract” has the meaning ascribed to such term in Section 3.15(a).

“Minimum Claim Amount” shall have the meaning ascribed to such term in Section 9.10(a).

“Net Accumulated Cash Flow” has the meaning ascribed to such term in Section 2.6(a)(ii).

“Net Accumulated Cash Flow Statement” has the meaning ascribed to such term in Section
2.6(a).

“New Credit Facility” means the $1.5 billion underwritten Credit Agreement to be entered into by
the Partnership on or prior to the Closing and any successor facility thereto.

“NGL” means natural gas liquids.

“Notice” shall have the meaning ascribed to such term in Section 10.2.

“NWP” means Northwest Pipeline GP, a Delaware general partnership.

“NYSE” means the New York Stock Exchange.

“Omnibus Agreement” means the Omnibus Agreement substantially in the form of Exhibit H
hereto.

“Operating Company” has the meaning ascribed to such term in the preamble.

“Partially Owned Entities” has the meaning ascribed to such term in the recitals.

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“Partially Owned Subsidiary” means a subsidiary of a Contributed Company that is not wholly owned
by such Contributed Company.

“Partnership” has the meaning ascribed to such term in the preamble.

“Partnership Agreement” means the Amended and Restated Agreement of Limited Partnership of the
Partnership, dated August 23, 2005, as amended from time to time.

“Partnership Agreement Amendment” means Amendment No. 6 to the Partnership Agreement substantially
in the form of Exhibit I hereto.

“Partnership Financing Transactions” means one or more of the following financing transactions that
closes on or prior to the Closing Date: the Rule 144A Offering and designated borrowings, if any,
by the Partnership under the New Credit Facility.

“Partnership Indemnified Parties” shall have the meaning ascribed to such term in Section
9.1.

“Partnership Material Adverse Effect” means a material adverse effect on or material adverse change
in the ability of either Partnership Party to perform its obligations under this Agreement or the
Ancillary Agreements or to consummate the transactions contemplated by this Agreement or the
Ancillary Agreements.

“Partnership Parties” shall have the meaning ascribed to such term in the preamble.

“Partnership Parties Closing Certificates” shall have the meaning ascribed to such term in
Section 6.2(a).

“Partnership Parties Closing Documents” means the Ancillary Agreements as executed by the
Partnership Parties and the Partnership Parties Closing Certificates.

“Permits” shall have the meaning ascribed to such term in Section 3.14.

“Permitted Liens” means all: (i) mechanics’, materialmen’s, carriers’, workmen’s, repairmen’s,
vendors’, operators’ or other like Liens, if any, that do not materially detract from the value of
or materially interfere with the use of any of the Transferred Assets subject thereto; (ii) Liens
arising under original purchase price conditional sales contracts and equipment leases with third
parties entered into in the ordinary course of business; (iii) title defects or Liens (other than
those constituting Liens for the payment of indebtedness), if any, that, individually or in the
aggregate, do not or would not impair in any material respect the use or occupancy of the
Transferred Assets, taken as a whole; (iv) Liens for Taxes that are not due and payable or that may
thereafter be paid without penalty; and (v) Liens supporting surety bonds, performance bonds and
similar obligations issued in connection with the Transferred Business.

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

“Plans” has the meaning ascribed to such term in Section 3.16(b).

8

 

“Private Equity Placement” means the issuance of 203,000,000 Class C Units by the Partnership to
one or more of the Contributing Parties as part of the Aggregate Consideration pursuant to
Section 2.2(a).

“Retained Assets and Liabilities” means the assets and liabilities described on Exhibit C.

“Rights-of-Way” has the meaning ascribed to such term in Section 3.8(b).

“Rule 144A Offering” means the Partnership’s private placement of an aggregate of up to $3.5
billion in principal amount of debt securities to initial purchasers who may resell them pursuant
to Rule 144A under the Securities Act, the net proceeds of which are to be used to provide all or a
portion of the Cash Consideration.

“Sarbanes-Oxley Act” shall have the meaning ascribed to such term in Section 3.5(c).

“SEC” means the Securities and Exchange Commission.

“SEC Reports” has the meaning ascribed to such term in Section 3.5(a).

“Securities Act” means the Securities Act of 1933, as amended.

“Services Agreements” means (i) the agreement to be entered into as of the Closing Date between
Williams and/or one or more of its Affiliates, on the one hand, and Transco, on the other hand,
relating to the services to be provided by employees of Williams and/or its Affiliates and the
amount payable by Transco to Williams and/or its Affiliates for such services, substantially in the
form attached as Exhibit J hereto, (ii) the secondment agreement to be entered into as of
the Closing Date between Williams and/or one or more of its Affiliates, on the one hand, and the
Partnership and the General Partner, on the other hand, substantially in the form attached as
Exhibit K hereto and (iii) the Administrative Services Agreement, dated as of October 1,
2007, between Northwest Pipeline Services LLC and NWP.

“Tax” means all taxes, however denominated, including any interest, penalties or other additions to
tax that may become payable in respect thereof, imposed by any Governmental Authority, which taxes
shall include, without limiting the generality of the foregoing, all income or profits taxes
(including, but not limited to, federal income taxes and state income taxes), gross receipts taxes,
net proceeds taxes, alternative or add-on minimum taxes, sales taxes, use taxes, real property
gains or transfer taxes, ad valorem taxes, property taxes, value-added taxes, franchise taxes,
production taxes, severance taxes, windfall profit taxes, withholding taxes, payroll taxes,
employment taxes, excise taxes and other obligations of the same or similar nature to any of the
foregoing.

“Tax Items” shall have the meaning ascribed to such term in Section 7.2(a).

“Tax Losses” shall have the meaning ascribed to such term in Section 7.1(a).

“Tax Return” means all reports, estimates, declarations of estimated Tax, information statements
and returns relating to, or required to be filed in connection with, any Taxes,

9

 

including
information returns or reports with respect to backup withholding and other payments to third
parties.

“Taxing Authority” means, with respect to any Tax, the Governmental Authority that imposes such
Tax, and the agency (if any) charged with the collection of such Tax for such entity or
subdivision, including any governmental or quasi-governmental entity or agency that imposes, or is
charged with collecting, social security or similar charges or premiums.

“Title IV Plan” shall have the meaning ascribed to such term in Section 3.16(e).

“Transaction” means the contribution of the Contributed Interests in exchange for the Aggregate
Consideration and the initial making by the Partnership of the WMZ Offer.

“Transco” means Transcontinental Gas Pipe Line Company, LLC, a Delaware limited liability company.

“Transfer Taxes” shall have the meaning ascribed to such term in Section 7.4.

“Transferred Assets” means the assets owned on the Closing Date by the Contributed Entities, taken
as a whole.

“Transferred Businesses” means the businesses conducted or operated as of the Closing Date by the
Contributed Entities using any of the Transferred Assets, taken as a whole, including the
associated liabilities.

“Transferred Businesses Material Adverse Effect” means a material adverse effect on or material
adverse change in (i) the business, assets, liabilities, properties, financial condition or results
of operations of Transferred Businesses, other than any effect or change (x) in the natural gas
gathering, processing, treating, transportation and storage industries generally and NGL marketing
industry generally (including any change in the prices of natural gas, natural gas liquids or other
hydrocarbon products, industry margins or any regulatory changes or changes in Applicable Law) or
(y) in United States or global economic conditions or financial markets in general; provided, that
in the case of clauses (x) and (y) the impact on the Transferred Businesses is not materially
disproportionate to the impact on similarly situated parties, or (ii) the ability of any of
Williams and the Contributing Parties to perform their obligations under this Agreement or the
Ancillary Agreements or to consummate the transactions contemplated by this Agreement or the
Ancillary Agreements.

“Wholly Owned Entities” has the meaning ascribed to such term in the recitals.

“Williams” has the meaning ascribed to such term in the preamble.

“Williams Debt Tender” means the tender offer by Williams for not less than $3.0 billion in
aggregate principal amount of the following debt securities of Williams commenced on or shortly
after the date of this Agreement: 8.75% Senior Notes due 2020, 7.7% Debentures due 2027, 7.125%
Notes due 2011, 8.125% Notes due 2012, 7.625% Notes due 2019, 7.875% Notes due 2021, 7.50%
Debentures due 2031, 7.75% Notes due 2031 and 8.75% Notes due 2032.

10

 

“Williams Tax Group” means the affiliated group of corporations within the meaning of Section 1504
of the Code which files a consolidated federal income Tax Return and as to which Williams is the
common parent, and, in the case of any combined or unitary Tax Return, the group of corporations
filing such Tax Return that includes the Wholly Owned Entities.

“WMZ” means Williams Pipeline Partners L.P., a Delaware limited partnership.

“WMZ Assets” has the meaning ascribed to such term in Section 3.7.

“WMZ Offer” means an exchange offer by the Partnership to acquire any and all common units of WMZ
held by the public unitholders of WMZ at a fixed exchange ratio of 0.7584 Common Units for each
such common unit of WMZ.

“WMZ Partnership Agreement” means the First Amended and Restated Agreement of Limited Partnership
of WMZ, dated January 24, 2008, as amended from time to time.

“Working Capital Amount” shall have the meaning ascribed to such term in Section 2.5(a).

“Working Capital Effective Time” shall have the meaning ascribed to such term in Section
2.5(a).

“Working Capital Statement” shall have the meaning ascribed to such term in Section 2.5(a).

“Working Capital Target” means an amount determined utilizing the general ledger accounts
indentified on, and calculated in accordance with, Exhibit D, which for a closing in
February 2010 would be $233,874,000, which for a closing in March 2010 would be $212,025,000 and
which for a closing in April 2010 would be $224,885,000.

1.2 Construction.

In constructing this Agreement: (a) the word “includes” and its derivatives means “includes,
without limitation” and corresponding derivative expressions; (b) the currency amounts referred to
herein, unless otherwise specified, are in United States dollars; (c) whenever this Agreement
refers to a number of days, such number shall refer to calendar days unless business days are
specified; (d) unless otherwise specified, all references in this Agreement to “Article,”
“Section,” “Disclosure Schedule,” “Exhibit,” “preamble” or “recitals” shall be references to an
Article, Section, Disclosure Schedule, Exhibit, preamble or recitals hereto; and (e) whenever the
context requires, the words used in this Agreement shall include the masculine, feminine and neuter
and singular and the plural.

ARTICLE 2

CONVEYANCE AND CLOSING

2.1 Conveyance.

Upon the terms and subject to the conditions set forth in this Agreement and in the CCA Agreement,
on the Closing Date, the Contributing Parties shall sell, grant, contribute, transfer, assign, and
convey the Contributed Interests to the Partnership, the Partnership shall acquire the

11

 

Contributed
Interests from the Contributing Parties and the Partnership shall further grant, contribute,
transfer, assign and convey the Contributed Interests to the Operating Company.

2.2 Consideration.

	 	(a)	 	The aggregate consideration to be transferred by the
Partnership to the Contributing Parties for the Contributed Interests on the
Closing Date (the “Aggregate Consideration”) shall consist of:

	 	(i)	 	cash in an amount equal to $3.5 billion minus
the Estimated Expenses (the “Cash Consideration”);
	 
	 	(ii)	 	203,000,000 Class C Units issued in the Private
Equity Placement; and
	 
	 	(iii)	 	(A) the increase in the capital account of the
General Partner by an amount equal to the Additional GP Interest and
(B) the issuance of a number of General Partner Units to the General
Partner equal to 2/98ths of the aggregate number of Class C Units
issued by the Partnership in the Private Equity Placement (the
“Additional General Partner Units”) in consideration for a contribution
to the Partnership on behalf of the General Partner of the applicable
portion of the Contributed Interests.

	 	(b)	 	The Cash Consideration shall be paid by the Partnership at the
Closing to the Contributing Parties in accordance with the percentages set
forth on Exhibit E by separate wire or interbank transfer of
immediately available funds to the account(s) specified at least two (2)
business days prior to the Closing by the applicable Contributing Party. The
Class C Units issued in the Private Equity Placement shall be issued subject to
the rights, preferences and privileges set forth in the Partnership Agreement,
as amended by the Partnership Agreement Amendment (the “Amended Partnership
Agreement”), the Delaware Revised Uniform Limited Partnership Act and federal
and state securities laws.
	 
	 	(c)	 	The initial capital account attributable to the Class C Units
issued in the Private Equity Placement shall be an amount equal to (i) the
product of 203,000,000 and the Issue Price, minus (ii) the Class C Closing
Quarter Distribution Reduction Amount.

2.3 Closing and Closing Deliveries.

	 	(a)	 	The closing (the “Closing”) of the contribution of the
Contributed Interests pursuant to this Agreement and the CCA Agreement will be
held at the offices of Gibson, Dunn & Crutcher LLP, 200 Park Avenue, New York,
New York on or before the third business day following satisfaction or waiver
of the conditions to closing set forth in Article 6, commencing at
10:00 a.m., New York time, or such other place, date and time as may be

12

 

	 	 	 	mutually agreed upon by the parties hereto. The “Closing Date,” as referred
to herein, shall mean the date of the Closing.
	 
	 	(b)	 	At least one (1) business day prior to the Closing Date, the
Partnership Parties, acting through the Conflicts Committee, shall deliver to
the Contributing Parties a statement setting forth a good faith estimate as of
the Closing Date of each component of the Expenses (the aggregate amount of
such estimates, the “Estimated Expenses”).
	 
	 	(c)	 	At the Closing, the Contributing Parties shall deliver, or
cause to be delivered, to the Partnership Parties the following:

	 	(i)	 	A counterpart of each Ancillary Agreement, duly
executed by Williams and the Contributing Parties, as applicable;
	 
	 	(ii)	 	A counterpart of the Partnership Agreement
Amendment, duly executed by the General Partner;
	 
	 	(iii)	 	One or more instruction letters in respect of
the Contributed Interests directing the applicable Contributed Company
to transfer such Contributed Interests to the Partnership on the books
of such Contributed Company;
	 
	 	(iv)	 	A long-form certificate of good standing of
recent date of each of the Contributing Parties and the Contributed
Entities;
	 
	 	(v)	 	Foreign qualification certificates of recent
date of each of the Contributed Entities for each of the jurisdictions
listed opposite its name in Disclosure Schedule 2.3(c); and
	 
	 	(vi)	 	Such other certificates, instruments of
conveyance and documents as may be reasonably requested by the
Partnership Parties at least two (2) business days prior to the Closing
Date to carry out the intent and purposes of this Agreement.

	 	(d)	 	At the Closing, the Partnership Parties shall deliver, or cause
to be delivered, to the Contributing Parties the following, or shall take the
following actions:

	 	(i)	 	A counterpart of each Ancillary Agreement, duly
executed by each Partnership Party, as applicable;
	 
	 	(ii)	 	The Cash Consideration as provided in
Section 2.2(b);
	 
	 	(iii)	 	Certificates representing an aggregate of
203,000,000 Class C Units issued in the Private Equity Placement in the
names and in accordance with the percentages set forth on Exhibit
E, and

13

 

	 	 	 	bearing the appropriate restricted legends required by the
Partnership Agreement and Applicable Law;
	 
	 	(iv)	 	Certificates representing the Additional
General Partner Units;
	 
	 	(v)	 	The capital account of the General Partner
shall be increased by the amount of the Additional GP Interest; and
	 
	 	(vi)	 	Such other certificates, instruments of
conveyance and documents as may be reasonably requested by the
Contributing Parties at least two (2) business days prior to the
Closing Date to carry out the intent and purposes of this Agreement.

2.4 True-Up of Expenses.

	 	(a)	 	No later than the earlier of (i) thirty (30) days after the
completion of the WMZ Offer and (ii) ninety (90) days after the Closing Date,
the Partnership, acting through the Conflicts Committee, shall prepare and
deliver, or cause to be prepared and delivered, to the Contributing Parties a
statement of the final amount of Expenses as of the Closing Date (the “Actual
Expenses”).
	 
	 	(b)	 	If the Actual Expenses are less than the Estimated Expenses,
then the Cash Consideration shall be adjusted appropriately and the Partnership
shall pay to the Contributing Parties in accordance with the percentages set
forth on Exhibit E, by separate wire or interbank transfer of
immediately available funds to an account specified in writing by the
applicable Contributing Party, an amount in cash equal to the amount of
Estimated Expenses minus the amount of Actual Expenses within five (5) business
days from the date on which the statement referred to in Section 2.4(a)
is delivered. If the Estimated Expenses are less than the Actual Expenses,
then the Cash Consideration shall be adjusted appropriately and the
Contributing Parties shall pay to the Partnership in accordance with the
percentages set forth on Exhibit E, by wire or interbank transfer of
immediately available funds to an account specified in writing by the
Partnership, an amount in cash equal to the amount of Actual Expenses minus the
amount of Estimated Expenses within five (5) business days from the date on
which the statement referred to in Section 2.4(a) is delivered.

2.5 Working Capital Adjustment.

	 	(a)	 	Within sixty (60) days after the Closing Date, the Contributing
Parties shall prepare and deliver, or cause to be prepared and delivered, to
the Partnership a statement of the Working Capital Amount as of the Working
Capital Effective Time (the “Working Capital Statement”). For purposes of this
Agreement, the “Working Capital Effective Time” means 12:01 a.m., Tulsa,
Oklahoma time, on the first day of the calendar month in which the Closing Date
occurs. For purposes of this Agreement,

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	 	 	 	the “Working Capital Amount” means an
amount calculated in accordance with the Working Capital Target calculation
attached hereto as Exhibit D, with respect to, in the aggregate, all of
the Contributed Companies and the Contributed Subsidiaries that are
consolidated for financial reporting purposes. The Working Capital Statement
shall be prepared in accordance with the same accounting principles and
methodology as the Financial Statements.
	 
	 	(b)	 	Within sixty (60) days following receipt by the Partnership of
the Working Capital Statement, the Partnership, on behalf of itself and the
Operating Company and acting through the Conflicts Committee, shall deliver
written notice to the Contributing Parties of any dispute it has with respect
to the preparation or content of the Working Capital Statement. In the event
the Partnership does not notify the Contributing Parties of a dispute with
respect to the Working Capital Statement within such sixty (60)-day period,
such Working Capital Statement will be final, conclusive and binding on the
parties hereto. In the event of such notification of a dispute, the
Partnership, on behalf of itself and the Operating Company and acting through
the Conflicts Committee, and the Contributing Parties shall negotiate in good
faith to resolve such dispute. If the Contributing Parties and the
Partnership, on behalf of itself and the Operating Company and acting through
the Conflicts Committee, notwithstanding such good faith effort, fail to
resolve such dispute within thirty (30) days after the Partnership advises the
Contributing Parties of its objections, then the Contributing Parties and the
Partnership, on behalf of itself and the Operating Company and acting through
the Conflicts Committee, jointly shall engage the firm of KPMG LLC, or such
other public accounting firm to which the parties hereto may agree (the
“Accounting Firm”), to resolve such dispute. The Contributing Parties, on the
one hand, and the Partnership (on behalf of itself and the Operating Company
and acting through the Conflicts Committee), on the other hand, shall furnish
or cause to be furnished to the Accounting Firm such work papers and other
documents and information relating to the disputed issues as they may deem
necessary or appropriate or as the Accounting Firm may request and
that are available to that party or its agents. Following the Accounting
Firm’s final determination of the Working Capital Amount as of the Working
Capital Effective Time, the Accounting Firm shall, within two (2) business
days from the date of such final determination, deliver a written notice to
the Contributing Parties and the Partnership specifying the Working Capital
Amount as of the Working Capital Effective Time. All determinations made by
the Accounting Firm shall be final, conclusive and binding on the parties
hereto. The Contributing Parties, on the one hand, and the Partnership, on
the other hand, shall share equally the fees and expenses of the Accounting
Firm.
	 
	 	(c)	 	For purposes of complying with the terms set forth in this
Section 2.5, the Partnership Parties and the Contributed Entities, on
the one hand, and the

15

 

	 	 	 	Contributing Parties, on the other hand, shall cooperate
with and make available to the other parties hereto and their representatives
all information, records, data and working papers, and will permit access to
their facilities and personnel, as may be reasonably required in connection
with the preparation and review of the Working Capital Statement and the
resolution of any disputes thereunder.
	 
	 	(d)	 	If the Working Capital Amount as of the Working Capital
Effective Time (as finally determined pursuant to Section 2.5(b)) is
less than the Working Capital Target, then the Cash Consideration shall be
adjusted appropriately and the Contributing Parties shall pay to the
Partnership in accordance with the percentages set forth on Exhibit E,
by wire or interbank transfer of immediately available funds to an account
specified in writing by the Partnership, an amount in cash equal to the Working
Capital Target minus the Working Capital Amount, within five (5) business days
from the date on which the Working Capital Amount is finally determined
pursuant to Section 2.5(b). If the Working Capital Target is less than
the Working Capital Amount as of the Working Capital Effective Time (as finally
determined pursuant to Section 2.5(b)), then the Cash Consideration
shall be adjusted appropriately and the Partnership shall pay to the
Contributing Parties in accordance with the percentages set forth on
Exhibit E, by separate wire or interbank transfer of immediately
available funds to an account specified in writing by the applicable
Contributing Party, an amount in cash equal to the Working Capital Amount minus
the Working Capital Target, within five (5) business days from the date on
which the Working Capital Amount is finally determined pursuant to Section
2.5(b).

2.6 Net Accumulated Cash Flow Adjustment.

	 	(a)	 	Within sixty (60) days after the Closing Date, the Contributing
Parties shall prepare and deliver, or cause to be prepared and delivered, to
the Partnership a statement of its calculation, in reasonable detail, of the
Net Accumulated Cash Flow (the “Net Accumulated Cash Flow Statement”). For
purposes of this Agreement:

	 	(i)	 	the “Adjustment Period” means the period of
time from the Working Capital Effective Time until 11:59 p.m., Tulsa,
Oklahoma time, on the last day of the calendar month in which the
Closing Date occurs;
	 
	 	(ii)	 	“Net Accumulated Cash Flow” means, for the
Adjustment Period, an amount (whether positive or negative) equal to
the sum of:

	 	(A)	 	with respect to the Wholly Owned
Entities and the direct or indirect wholly owned subsidiaries
thereof (including for

16

 

	 	 	 	these purposes NWP), on a combined basis,
an amount (whether positive or negative) equal to:

	 	(1)	 	the sum of (a)
revenues in such period and (b) any other items
resulting in cash inflows in such period, but excluding
from clauses (a) and (b) the inflow amounts specifically
addressed in Section 2.6(a)(ii)(B) below or
resulting from the transactions described in Section
6.2(i); minus
	 
	 	(2)	 	the sum of (a)
all costs and operating expenses in such period,
including, but not limited to, all selling, general and
administrative expenses (including any allocation of
general and administrative costs and expenses by
Williams in accordance with past practice) and cash
interest payments, but excluding non-cash expenses such
as depreciation, amortization or accretion, (b) all
capital expenditures incurred in such period and (c) any
other items resulting in cash outflows in such period,
but excluding from clauses (a), (b) and (c) the outflow
amounts specifically addressed in Section
2.6(a)(ii)(B) below or resulting from the
transactions described in Section 6.2(i); and

	 	(B)	 	with respect to the Partially
Owned Entities and the Partially Owned Subsidiaries (excluding
for these purposes NWP), on a combined basis, an amount (whether
positive or negative) equal to:

	 	(1)	 	distributions in
such period by the Partially Owned Entities and the
Partially Owned Subsidiaries to a Contributing Party or
a directly or indirectly owned subsidiary thereof; minus
	 
	 	(2)	 	capital
contributions in such period to a Partially Owned Entity
or Partially Owned Subsidiary from a Contributing Party
or a directly or indirectly owned subsidiary thereof.

	 	(b)	 	Within sixty (60) days following receipt by the Partnership of
the Net Accumulated Cash Flow Statement, the Partnership, on behalf of itself
and the Operating Company and acting through the Conflicts Committee, shall
deliver written notice to the Contributing Parties of any dispute it has with
respect to the preparation or content of the Net Accumulated Cash Flow Statement. In the event the Partnership does not notify the Contributing
Parties of a dispute with respect to the Net Accumulated Cash Flow 

17

 

	 	 	 	Statement within such sixty (60)-day period, such Net Accumulated Cash Flow Statement
will be final, conclusive and binding on the parties hereto. In the event of
such notification of a dispute, the Partnership, on behalf of itself and the
Operating Company and acting through the Conflicts Committee, and the
Contributing Parties shall follow the resolution procedures set forth in
Section 2.5(b).
	 
	 	(c)	 	If the Net Accumulated Cash Flow is a positive amount (as
finally determined pursuant to Section 2.6(b)), then the Cash
Consideration shall be adjusted downward by such amount and the Contributing
Parties shall pay to the Partnership in accordance with the percentages set
forth on Exhibit E, by wire or interbank transfer of immediately
available funds to an account specified in writing by the Partnership, an
amount in cash equal to the Net Accumulated Cash Flow, within five (5) business
days from the date on which the Net Accumulated Cash Flow is finally determined
pursuant to Section 2.6(b). If the Net Accumulated Cash Flow is a
negative amount (as finally determined pursuant to Section 2.6(b)),
then the Cash Consideration shall be adjusted upward by the absolute value of
such amount and the Partnership shall pay to the Contributing Parties in
accordance with the percentages set forth on Exhibit E, by
separate wire or interbank transfer of immediately available funds to an
account specified in writing by the applicable Contributing Party, an amount
in cash equal to the absolute value of the Net Accumulated Cash Flow, within
five (5) business days from the date on which the Net Accumulated Cash Flow
is finally determined pursuant to Section 2.6(b).

ARTICLE 3

REPRESENTATIONS AND WARRANTIES OF THE CONTRIBUTING PARTIES

The Contributing Parties hereby represent and warrant to the Partnership Parties as follows:

3.1 Organization.

	 	(a)	 	Each of the Contributing Parties is a limited liability company
duly formed, validly existing and in good standing under the laws of the State
of Delaware and has all requisite limited liability company power and authority
to own, operate and lease its properties and assets and to carry on its
business as now conducted.
	 
	 	(b)	 	Each of the Contributed Companies and WMZ is a limited
liability company or limited partnership duly formed, validly existing and in
good standing under the laws of the State of Delaware and has all requisite
limited liability company or limited partnership power and authority to own,
operate and lease its properties and assets and to carry on its business as now
conducted. Each of the Contributed Subsidiaries is a corporation, limited
partnership, general partnership or limited liability company duly organized or
formed, as applicable, validly existing and in good standing

18

 

	 	 	 	under the laws of
its respective jurisdiction of organization or formation and has all requisite
corporate, limited partnership, general partnership or limited liability
company power and authority to own, operate and lease its properties and assets
and to carry on its business as now conducted. Each Contributed Entity is duly
licensed or qualified to do business and is in good standing in the states in
which the character of the properties and assets owned or held by it or the
nature of the business conducted by it requires it to be so licensed or
qualified, except where the failure to be so qualified or in good standing
would not, individually or in the aggregate, reasonably be expected to have a
Transferred Businesses Material Adverse Effect. The Contributing Parties have
made available to the Partnership Parties true and complete copies of the
charter documents, bylaws, certificates of formation, limited liability company
agreements, limited partnership agreements or equivalent governing instruments
of each Contributed Entity in effect as of the date of this Agreement.

3.2 Authority and Approval.

	 	(a)	 	Each of the Contributing Parties has full limited liability
company power and authority to execute and deliver this Agreement, to
consummate the transactions contemplated hereby and to perform all of the terms
and conditions hereof to be performed by it. The execution and delivery by the
Contributing Parties of this Agreement, the consummation of the transactions
contemplated hereby and the performance of all of the terms and conditions
hereof to be performed by the Contributing Parties have been duly authorized
and approved by all requisite limited liability company action on the part of
each of the Contributing Parties. This Agreement has been duly executed and
delivered by each of the Contributing Parties and constitutes the valid and
legally binding obligation of each of them, enforceable against each of the
Contributing Parties in accordance with its terms, except as such enforcement
may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance or other similar laws affecting the
enforcement of creditors’ rights and remedies generally and by general
principles of equity (whether applied in a proceeding at law or in equity).
	 
	 	(b)	 	Each of the Contributing Parties has full limited liability
company power and authority to execute and deliver each Ancillary Agreement to
which it will be a party, to consummate the transactions contemplated thereby
and to perform all of the terms and conditions thereof to be performed by it.
The execution and delivery by each of the Contributing Parties of each of the
Ancillary Agreements to which it will be a party, the consummation of the
transactions contemplated thereby and the performance of all of the terms and
conditions thereof to be performed by it have been duly authorized and approved
by all requisite limited liability company action on the part of each
Contributing Party. When executed and delivered by each of the parties party
thereto, each Ancillary Agreement will constitute

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	 	 	 	a valid and legally binding
obligation of each of Williams and the Contributing Parties, as applicable,
that is a party thereto enforceable against Williams and each such Contributing
Party in accordance with its terms, except as such enforcement may be limited
by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent
conveyance or other similar laws affecting the enforcement of creditors’ rights
and remedies generally and by general principles of equity (whether applied in
a proceeding at law or in equity).

3.3 No Conflict; Consents.

Except as set forth on Disclosure Schedule 3.3:

	 	(a)	 	the execution, delivery and performance of this Agreement by
each of the Contributing Parties does not, and the execution, delivery and
performance of each of the Ancillary Agreements by each of Williams and the
Contributing Parties party thereto will not, and the fulfillment and compliance
with the terms and conditions hereof and thereof and the consummation of the
transactions contemplated hereby and thereby will not, (i) violate, conflict
with any of, result in any breach of, or require the consent of any Person
under, the terms, conditions or provisions of the charter documents, bylaws,
certificates of formation, limited liability company agreements, limited
partnership agreements or equivalent governing instruments of any Contributing
Party, Williams or any Contributed Entity, (ii) violate any provision of any
law or administrative rule or regulation or any judicial, administrative or
arbitration order, award, judgment, writ, injunction or decree applicable to
any of the Contributing Parties, Williams, the Contributed Entities, the
Transferred Assets or the Transferred Businesses (“Applicable Law”); (iii)
conflict with, result in a breach of, constitute a default under (whether with
notice or the lapse of time or both), or accelerate or permit the acceleration
of the performance required by, or require any consent, authorization or
approval under, or result in the suspension, termination or cancellation of, or
in a right of suspension, termination or cancellation of, (a) any indenture,
mortgage, agreement, contract, commitment, license, concession, permit, lease,
joint venture or other instrument to which any of the Contributing Parties or
the Contributed Entities is a party or by which it or any of the Transferred
Assets are bound or (b) any indenture, mortgage, agreement, contract,
commitment, license, concession, permit, lease, joint venture or other
instrument to which Williams is a party or by which it is bound; or (iv) result
in the creation of any Lien (other than Permitted Liens) on any of the
Transferred Assets under any such indenture, mortgage, agreement, contract,
commitment, license, concession, permit, lease, joint venture or other
instrument, except in the case of clauses (ii), (iii) and (iv) for those items
which, individually or in the aggregate, would not reasonably be expected to
have a Transferred Businesses Material Adverse Effect; and

20

 

	 	(b)	 	no consent, approval, license, permit, order or authorization
of any Governmental Authority or other Person is required to be obtained or
made by any of the Contributing Parties, Williams or the Contributed Entities
with respect to the Transferred Assets or the Transferred Businesses in
connection with the execution, delivery, and performance of
this Agreement and the Ancillary Agreements or the consummation of the
transactions contemplated hereby or thereby, except (i) as have been waived
or obtained or with respect to which the time for asserting such right has
expired, (ii) for those which individually or in the aggregate would not
reasonably be expected to have a Transferred Businesses Material Adverse
Effect (including such consents, approvals, licenses, permits, orders or
authorizations that are not customarily obtained prior to the Closing and
are reasonably expected to be obtained in the ordinary course of business
following the Closing), or (iii) pursuant to the applicable requirements of
the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the
“HSR Act”).

3.4 Capitalization; Title to Membership and Limited Partner Interests.

	 	(a)	 	The Contributing Parties will on the Closing Date own,
beneficially and of record, all of the Contributed Interests free and clear of
all Liens in the percentages set out next to such Contributing Parties’ names
on Disclosure Schedule 3.4(a) and will convey good and marketable title
to the Contributed Interests to the Partnership. The Contributed Interests are
not subject to any agreements or understandings with respect to the voting or
transfer of any of the Contributed Interests (except the contribution of the
Contributed Interests contemplated by this Agreement and restrictions under
applicable federal and state securities laws). The Contributed Interests have
been duly authorized and are validly issued, fully paid (to the extent required
under the limited liability company agreement or limited partnership agreement
of the applicable Contributed Company) and nonassessable (except as such
nonassessability may be affected by Sections 18-303, 18-607 and 18-804 of the
Delaware LLC Act or by Sections 17-303, 17-607 and 17-804 of the Delaware LP
Act). On the Closing Date, the applicable Contributing Parties will be the sole
members of the Wholly Owned Entities, WGP will be a member of Pacific Connector
Gas Pipeline, LLC and a partner of Pacific Connector Gas Pipeline, LP and
WGPGPC will be a member of Gulfstream.
	 
	 	(b)	 	The Contributed Companies, directly or indirectly through
another Contributed Subsidiary, will on the Closing Date own, of record and
beneficially, the outstanding equity interests of each Contributed Subsidiary
free and clear of any Liens as set out next to such Contributed Subsidiaries’
names on Disclosure Schedule 3.4(b). These equity interests are not
subject to any agreements or understandings with respect to the voting or
transfer of such equity interests (other than restrictions under applicable
federal and state securities laws). All the outstanding equity

21

 

	 	 	 	interests of
each Contributed Subsidiary have been duly authorized and are
validly issued, fully paid (in the case of a limited partnership or limited
liability company, to the extent required by the limited liability company
agreement or partnership agreement of the applicable Contributed Subsidiary)
and nonassessable (except as provided under the Delaware LLC Act or the
Delaware LP Act). The Contributed Subsidiaries will on the Closing Date be
the only corporations, limited partnerships, general partnerships, limited
liability companies and other Persons in which the Contributed Companies
own, directly or indirectly, an equity interest.
	 
	 	(c)	 	There are no outstanding subscriptions, options, warrants,
preemptive rights, preferential purchase rights, rights of first refusal or any
similar rights issued or granted by, or binding upon, any of the Contributing
Parties or Contributed Entities to purchase or otherwise acquire or to sell or
otherwise dispose of the Contributed Interests or the equity interests of the
Contributed Subsidiaries, except as contemplated by this Agreement or the CCA
Agreement or as set forth in the governing instruments of Gulfstream.
	 
	 	(d)	 	As of the date hereof, the outstanding capitalization of WMZ
consists of 22,607,430 Common Units, 10,957,900 Subordinated Units, 684,869
General Partner Units and the Incentive Distribution Rights (all such
capitalized terms having the meanings set forth in the WMZ Partnership
Agreement). All of such Common Units, Subordinated Units and Incentive
Distribution Rights and the limited partner interests represented thereby have
been duly authorized and validly issued in accordance with the WMZ Partnership
Agreement, and are fully paid (to the extent required under the WMZ Partnership
Agreement) and nonassessable (except as such nonassessability may be affected
by Sections 17-303, 17-607 and 17-804 of the Delaware LP Act). The General
Partner Units of WMZ have been duly authorized and validly issued in accordance
with the WMZ Partnership Agreement. Williams Pipeline GP LLC owns 4,700,668
Common Units of WMZ, all 10,957,900 Subordinated Units of WMZ, all 684,869
General Partner Units of WMZ and all the Incentive Distribution Rights of WMZ,
free and clear of all Liens. There are no outstanding subscriptions, options,
warrants, preemptive rights, preferential purchase rights, rights of first
refusal or any similar rights issued or granted by, or binding upon, WMZ to
purchase or otherwise acquire or to sell or otherwise dispose of any equity
interests in WMZ, except as set forth in the SEC Reports of WMZ.
	 
	 	(e)	 	WMZ indirectly owns a 35% general partnership interest in NWP,
free and clear of all Liens.

22

 

3.5 SEC Documents; Internal Controls.

	 	(a)	 	Since January 1, 2007, all reports, including but not limited
to the Annual Reports on Form 10-K, the Quarterly Reports on Form 10-Q and the
Current Reports on Form 8-K, forms, schedules, statements and other documents
required to be filed or furnished by Williams, NWP, Transco and WMZ,
respectively, with or to the SEC, as applicable, pursuant to the Exchange Act
have been or will be timely filed or furnished (the “SEC Reports”). The SEC
Reports (i) complied or will comply in all material respects with the
requirements of Applicable Law (including the Exchange Act and the rules and
regulations promulgated thereunder), and (ii) as of its filing date did not or
will not contain any untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary in order to make the
statements therein, in the light of the circumstances under which they were
made, not misleading, except for any statements in any SEC Report that may have
been modified by an amendment to such report or a subsequent report filed with
the SEC prior to the date hereof; provided, that with respect to the SEC
Reports filed or to be filed by Williams, such representation in clause (ii)
applies only to the Transferred Businesses and the Transferred Assets.
	 
	 	(b)	 	Other than NWP and Transco, no Contributing Party or
Contributed Entity is required to file reports, forms or other documents with
the SEC pursuant to the Exchange Act. There are no outstanding comments from,
or unresolved issues raised by, the staff of the SEC with respect to the SEC
Reports. No enforcement action has been initiated against Williams, NWP,
Transco or WMZ relating to disclosures contained or omitted from any SEC
Report.
	 
	 	(c)	 	Each of Williams, NWP, Transco and WMZ has established and
maintains disclosure controls and procedures and internal control over
financial reporting (as such terms are defined in paragraphs (e) and (f),
respectively, of Rule 13a-15 under the Exchange Act) as required by Rule 13a-15
under the Exchange Act and the applicable listing standards of the NYSE. Such
disclosure controls and procedures are reasonably designed to ensure that all
material information required to be disclosed by each of Williams, NWP, Transco
and WMZ in the reports that it files under the Exchange Act are recorded,
processed, summarized and reported within the time periods specified in the
rules and forms of the SEC, and that all such material information is
accumulated and communicated to its management as appropriate to allow timely
decisions regarding required disclosure and to make the certifications required
pursuant to Sections 302 and 906 of the
Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated
thereunder (the “Sarbanes-Oxley Act”).
	 
	 	(d)	 	Since January 1, 2007, the principal executive officer and
principal financial officer of each of Williams, NWP, Transco and WMZ have made

23

 

	 	 	 	all certifications (without qualification or exceptions to the matters
certified, except as to knowledge) required by the Sarbanes-Oxley Act, and the
statements contained in any such certifications are complete and correct, and
none of such entities or its officers have received notice from any
governmental authority questioning or challenging the accuracy, completeness,
form or manner of filing or submission of such certification. As of the date
hereof, none of such entities has any Knowledge of any material weaknesses in
the design or operation of such internal controls over financial reporting or
has any reason to believe that its auditors and its principal executive officer
and principal financial officer will not be able to give the certifications and
attestations required pursuant to the rules and regulations adopted pursuant to
Section 404 of the Sarbanes-Oxley Act in connection with the filing of its
Annual Report on Form 10-K for the fiscal year ended December 31, 2009.

3.6 Financial Statements; Undisclosed Liabilities.

	 	(a)	 	Disclosure Schedule 3.6(a) sets forth a true and
complete copy of the audited statements of income (loss), comprehensive income
(loss) and members’ equity, and statements of cash flow for the fiscal years
ended December 31, 2007 and 2008 and balance sheets as of December 31, 2007 and
2008 for the Transferred Businesses, including the notes thereto, and similar
unaudited financial statements for the Transferred Businesses as of September
30, 2009 and for the nine months ended September 30, 2009 (collectively, with
such audited statements, the “Financial Statements”). The Financial Statements
(including the notes thereto) have been prepared in accordance with GAAP
applied on a consistent basis throughout the periods covered thereby (except as
may be indicated in the notes thereto) and present fairly in all material
respects the financial condition of the Transferred Businesses as of such dates
and the results of operations of the Transferred Businesses for such periods,
except as otherwise noted therein and subject, in the case of the unaudited
financial statements, to normal and recurring adjustments and the absence of
certain notes that are included in an annual filing. Except as set forth on
Disclosure Schedule 3.6(a), there are no off-balance sheet arrangements
that have or are reasonably likely to have a Transferred Businesses Material
Adverse Effect.
	 
	 	(b)	 	There are no liabilities or obligations of the Contributed
Entities or the Transferred Businesses (whether known or unknown and whether
accrued, absolute, contingent or otherwise) and there are no facts or
circumstances that would reasonably be expected to result in any such
liabilities or obligations, whether arising in the context of federal, state or
local judicial, regulatory, administrative or permitting agency proceedings,
other than (i) liabilities or obligations reflected or reserved against in the
Financial Statements, (ii) current liabilities incurred in the ordinary course
of business since September 30, 2009, (iii) liabilities or obligations set

24

 

	 	 	 	forth on Disclosure Schedule 3.6(b) and (iv) liabilities or obligations
(whether known or unknown and whether accrued, absolute, contingent or
otherwise) that would not, individually or in the aggregate, reasonably be
expected to have a Transferred Businesses Material Adverse Effect.

3.7 Contributed Interests.

The Contributed Interests constitute all of Williams’ directly or indirectly owned interests in
natural gas gathering, processing, treating, transportation and storage businesses and NGL
marketing business, other than the Retained Assets and Liabilities and those interests currently
held by WMZ (the “WMZ Assets”) or the Partnership Parties. The assets necessary to conduct the
Transferred Businesses as such businesses are conducted on the date of this Agreement will be
included in the Transferred Assets or provided through the Services Agreements.

3.8 Real Property; Rights of Way.

	 	(a)	 	Each of the Contributed Entities has good and marketable title
to all real property and good title to all tangible personal property owned by
the Contributed Entities and which is sufficient for the operation of their
respective businesses as presently conducted, free and clear of all Liens
except Permitted Liens, except as would not reasonably be expected to have a
Transferred Business Material Adverse Effect.
	 
	 	(b)	 	Each of the Contributed Entities has such consents, easements,
rights-of-way, permits and licenses from each Person (collectively,
“Rights-of-Way”) as are sufficient to conduct its business in the manner
described, and subject to the limitations contained, in any SEC Report filed on
or prior to the date hereof, except for (i) qualifications, reservations and
encumbrances as may be set forth in any SEC Report filed on or prior to the
date of this Agreement and (ii) such Rights-of-Way the absence of which have
not had, and would not reasonably be expected to have, individually or in the
aggregate, a Transferred Businesses Material Adverse Effect. Each of the
Contributed Entities has fulfilled and performed all its material obligations
with respect to such Rights-of-Way and no event has occurred that allows, or
after notice or lapse of time
would allow, revocation or termination thereof or would result in any
impairment of the rights of the holder of any such Rights-of-Way, except for
such revocations, terminations and impairments that have not had, and would
not reasonably be expected to have, individually or in the aggregate, a
Transferred Businesses Material Adverse Effect; and none of such
Rights-of-Way contains any restriction that is materially burdensome to the
Contributed Entities, taken as a whole.
	 
	 	(c)	 	Except as set forth on Disclosure Schedule 3.8(c), (i)
(A) there are no pending proceedings or actions to modify the zoning
classification of, or to condemn or take by power of eminent domain, all or any
of the Transferred Assets and (B) none of the Contributing Parties have

25

 

	 	 	 	Knowledge of any such threatened proceeding or action, which (in either case),
if pursued, would reasonably be expected to have a Transferred Businesses
Material Adverse Effect, (ii) to the extent located in jurisdictions subject to
zoning, the Transferred Assets which are real property (owned or leased) are
properly zoned for the existence, occupancy and use of all of the improvements
located on the owned and leased real property and on the rights-of-way and
easements held by any of the Wholly Owned Entities or the Partially Owned
Entities, except as would not reasonably be expected to have a Transferred
Business Material Adverse Effect, and (iii) none of such improvements are
subject to any conditional use permits or “permitted non-conforming use” or
“permitted non-conforming structure” classifications or similar permits or
classifications, except as would not, either currently or in the case of a
rebuilding of or additional construction of improvements, reasonably be
expected to have a Transferred Business Material Adverse Effect.

3.9 Litigation; Laws and Regulations.

Except as set forth on Disclosure Schedule 3.9 and, with respect to any Partially Owned
Entity or Partially Owned Subsidiary, to the Knowledge of the Contributing Parties:

	 	(a)	 	There are no (i) civil, criminal or administrative actions,
suits, claims, hearings, arbitrations, investigations or proceedings pending
or, to the Contributing Parties’ Knowledge, threatened against or affecting the
Contributed Entities, the Transferred Assets, the Transferred Businesses or any
of the operations of the Contributing Parties related thereto or (ii)
judgments, orders, decrees or injunctions of any Governmental Authority,
whether at law or in equity, against or affecting the Contributed Entities, the
Transferred Assets, the Transferred Businesses or any of the operations of the
Contributing Parties related thereto, except in each case,
for those items that would not, individually or in the aggregate, reasonably
be expected to have a Transferred Businesses Material Adverse Effect.
	 
	 	(b)	 	None of the Contributing Parties or the Contributed Entities is
in violation of or in default under its charter documents, bylaws or equivalent
governing documents or any Applicable Law, except as would not, individually or
in the aggregate, reasonably be expected to have a Transferred Businesses
Material Adverse Effect.

3.10 No Adverse Changes.

Except as set forth on Disclosure Schedule 3.10 or described in the Financial Statements
(including the notes thereto), since September 30, 2009 and, with respect to any Partially Owned
Entity or Partially Owned Subsidiary, to the Knowledge of the Contributing Parties:

	 	(a)	 	there has not been a Transferred Businesses Material Adverse
Effect;

26

 

	 	(b)	 	the Transferred Businesses and the Transferred Assets have been
operated and maintained consistent with the standard set forth in Section
5.1(a);
	 
	 	(c)	 	there has not been any material damage, destruction or loss to
any material portion of the Transferred Assets, whether or not covered by
insurance;
	 
	 	(d)	 	there has been no delay in, or postponement of, the payment of
any liabilities related to the Contributed Entities, the Transferred Businesses
or the Transferred Assets, individually or in the aggregate, in excess of
$50,000,000;
	 
	 	(e)	 	none of the items described in Section 5.1(b), but
excluding the items described in Section 5.1(b)(xiv), has occurred; and
	 
	 	(f)	 	there is no contract, commitment or agreement to do any of the
foregoing.

3.11 Taxes.

Except as would not reasonably be expected to have a Transferred Businesses Material Adverse Effect
and, with respect to any Partially Owned Entity or Partially Owned Subsidiary, to the Knowledge of
the Contributing Parties, (i) all Tax Returns required to be filed by or with respect to the
Contributed Entities, the Transferred Businesses or the Transferred Assets have been filed on a
timely basis (taking into account all extensions of due dates); (ii) all Taxes owed by the
Contributed Entities or the Contributing Parties or any of their Affiliates with respect to the
Transferred Assets or the Transferred Businesses, which are or have become due, have been timely
paid in full; (iii) there are no Liens on any of the Transferred Assets that arose in connection
with any failure (or alleged failure) to pay any Tax on any of the Transferred Assets
or the Transferred Businesses, other than Liens for Taxes not yet due and payable or the amount or
validity of which is being contested in good faith by appropriate proceedings for which an adequate
reserve has been established therefor; and (iv) there is no pending action, proceeding or
investigation for assessment or collection of Taxes and no Tax assessment, deficiency or adjustment
has been asserted or proposed with respect to the Contributed Entities, the Transferred Businesses
or the Transferred Assets.

3.12 Environmental Matters.

Except as disclosed in Disclosure Schedule 3.14, or as would not reasonably be expected,
individually or in the aggregate, to have a Transferred Businesses Material Adverse Effect: (a) the
Contributed Entities, the Transferred Businesses, the Transferred Assets and the Contributing
Parties’ operations relating thereto are in compliance with applicable Environmental Laws; (b) no
circumstances exist with respect to the Contributed Entities, the Transferred Businesses, the
Transferred Assets or the Contributing Parties’ operations relating thereto that give rise to an
obligation by any Contributing Party, Williams or any Contributed Entity to investigate, remediate,
monitor or otherwise address the presence, on-site or offsite, of Hazardous Materials under any
applicable Environmental Laws; (c) the Contributed Entities, the Transferred Assets, the
Transferred Businesses and the Contributing Parties’ operations related thereto are not subject to
any pending or, to the Knowledge of the Contributing Parties, threatened, claim, action, suit,
investigation, inquiry or proceeding under any Environmental

27

 

Law (including designation as a
potentially responsible party under CERCLA or any similar local or state law); (d) all notices,
permits, permit exemptions, licenses or similar authorizations, if any, required to be obtained or
filed by the Contributed Entities, with respect to the Transferred Assets or the Transferred
Businesses, by any Contributing Party under any Environmental Law in connection with the
Transferred Businesses, the Transferred Assets or the Contributing Parties’ operations relating
thereto have been duly obtained or filed and are valid and currently in effect and will be legally
usable by, and in the process of ownership transfer to, the Contributed Entities at the time of the
Closing or have been waived; (e) there has been no release of any Hazardous Material into the
environment by the Contributed Entities, the Transferred Assets, or the Contributing Parties’
operations relating thereto, except in compliance with applicable Environmental Law; and (f) there
has been no exposure of any person or property to any Hazardous Material in connection with the
operation of the Transferred Assets or the Contributing Parties’ operations relating thereto.

3.13 Condition of Assets.

The Transferred Assets have been maintained and repaired in the same manner as would a prudent
operator of such assets, and are adequate for the purposes for which they are currently used. The
Transferred Assets are adequate to conduct the Transferred Businesses substantially in accordance
with past practice.

3.14 Licenses; Permits.

	 	(a)	 	As of the date of this Agreement, except as set forth in
Disclosure Schedule 3.14, the Contributed Entities have all licenses,
permits and authorizations issued or granted or waived by Governmental
Authorities that are necessary for the conduct of the Transferred Businesses as
now being conducted (collectively, “Permits”), except in each case for such
items which the failure to obtain or have waived would not result in a
Transferred Businesses Material Adverse Effect.
	 
	 	(b)	 	All Permits are validly held by the Contributed Entities and
are in full force and effect, except as would not reasonably be expected to
have a Transferred Businesses Material Adverse Effect.
	 
	 	(c)	 	The Contributed Entities have complied with all terms and
conditions of the Permits, except as would not reasonably be expected to have a
Transferred Businesses Material Adverse Effect.
	 
	 	(d)	 	The Permits (including such Permits that are not customarily
obtained prior to the Closing and are reasonably expected to be obtained in the
ordinary course of business following the Closing), a list of which has been
provided to the Partnership Parties, will not be subject to suspension,
modification, revocation or non-renewal as a result of the execution and
delivery of this Agreement and the Ancillary Agreements or the consummation of
the transactions contemplated hereby or thereby, except,

28

 

	 	 	 	in each case, as would
not, individually or in the aggregate, reasonably be expected to have a
Transferred Businesses Material Adverse Effect.
	 
	 	(e)	 	No proceeding is pending or, to the Contributing Parties’
Knowledge, threatened with respect to any alleged failure by the Contributed
Entities to have any material Permit necessary for the operation of any
Transferred Asset or the conduct of the Transferred Businesses or to be in
compliance therewith.

3.15 Contracts.

	 	(a)	 	Disclosure Schedule 3.15 contains a true and complete
listing and, with respect to any Partially Owned Entity or Partially Owned
Subsidiary, a true and complete listing to the Knowledge of the Contributing
Parties, of the following contracts and other agreements with respect to the
Transferred Assets or the Transferred Businesses, to which (i) any Contributing
Party or (ii) any of the Contributed Entities is, or immediately after the
Closing will be, a party (each such contract or agreement being referred to
herein as a “Material Contract”):

	 	(i)	 	any natural gas gathering, processing,
treating, transportation, storage, purchase or other agreement or NGL
marketing purchase or other agreement (or group of related agreements
with the same Person) that involves annual revenues or payments in
excess of $100,000,000;
	 
	 	(ii)	 	any agreement (or group of related agreements
with the same Person) for the lease of personal property to or from any
Person providing for lease payments in excess of $100,000,000 per
annum;
	 
	 	(iii)	 	any agreement (or group of related agreements
with the same Person) for the purchase or sale of raw materials,
commodities, supplies, products, or other personal property, or for the
furnishing or receipt of services, the performance of which is
reasonably expected to involve annual consideration in excess of
$100,000,000;
	 
	 	(iv)	 	any agreement concerning a partnership, joint
venture, investment or other arrangement (A) involving a sharing of
profits or losses relating to all or any portion of the business of any
Contributed Entity, or (B) requiring any Contributed Entity to invest
funds in or make loans to, or purchase any securities of, another
Person, venture or other business enterprise, in each case, that could
reasonably be expected to be in excess of $100,000,000;
	 
	 	(v)	 	any agreement (or group of related agreements
with the same Person) with respect to the creation, incurrence,
assumption, or

29

 

	 	 	 	guaranteeing of any indebtedness for borrowed money, or
any capitalized lease obligation;
	 
	 	(vi)	 	any agreement that prohibits or otherwise
materially limits the ability of such Contributing Party (to the extent
applicable to the
Transferred Businesses) or Contributed Entity to compete in any
material respect in any line of business or with any Person or in any
material geographic area during any period of time after the Closing;
	 
	 	(vii)	 	any agreement with any Contributing Party (to
the extent applicable to the Transferred Businesses) or Contributed
Entity that individually involves annual revenues or payments in excess
of $100,000,000;
	 
	 	(viii)	 	any collective bargaining agreement;
	 
	 	(ix)	 	any lease under which any Contributed Entity is
the lessor or lessee of real property that provides for an annual base
rental to or from such Contributed Entity of more than $100,000,000;
	 
	 	(x)	 	any easement agreement, right-of-way agreement,
license or permit involving an annual payment of more than
$100,000,000;
	 
	 	(xi)	 	any agreement that governs the use or
development of Intellectual Property (other than off-the-shelf software
license agreements);
	 
	 	(xii)	 	any agreement under which the consequences of
a default or termination would reasonably be expected to have a
Transferred Businesses Material Adverse Effect; or
	 
	 	(xiii)	 	any other agreement (or group of related agreements with the same
Person) not enumerated in this Section 3.15, the performance of
which by any party thereto involves consideration in excess of
$100,000,000.

	 	(b)	 	The Contributing Parties have made available to the Partnership
Parties a correct and complete copy of each written agreement listed in
Disclosure Schedule 3.15.
	 
	 	(c)	 	With respect to each relevant Contributed Entity and, with
respect to any Partially Owned Entity or Partially Owned Subsidiary, to the
Knowledge of the Contributing Parties: (A) each Material Contract is legal,
valid and binding on and enforceable against such Contributed Entity, and in
full force and effect; (B) each Material Contract will continue to be legal,
valid and binding on and enforceable against such Contributed Entity, and in
full force and effect on identical terms following the consummation of the
transactions contemplated by this Agreement; (C) such Contributed Entity

30

 

	 	 	 	 that is a party to each Material Contract is not in breach or default, and no
event has occurred which with notice or lapse of time would constitute a
breach or default by any such party, or permit termination, modification, or
acceleration, under the Material Contract; and (D) to the Contributing
Parties’ Knowledge, no other party to any Material Contract is in breach or
default, and no event has occurred which with notice or lapse of time would
constitute a breach or default by such other party, or permit termination,
modification or acceleration under any Material Contract other than in
accordance with its terms nor has any other party repudiated any provision
of the Material Contract.

3.16 Employees and Employee Benefits.

	 	(a)	 	None of the employees of the Contributing Parties or their
Affiliates who provide exclusive or shared services to the Transferred Assets
or the Transferred Businesses (collectively, the “Associated Employees”) are
covered by a collective bargaining agreement. Except as would not result in any
liability to the Partnership Parties or the Contributed Entities or as set
forth on Disclosure Schedule 3.16(a), there are no facts or
circumstances that have resulted or would reasonably be expected to result in a
claim on behalf of an individual or a class in excess of $3,750,000 for
unlawful discrimination, unpaid overtime or any other violation of state or
federal laws relating to employment of the Associated Employees.
	 
	 	(b)	 	As of the Closing Date, except with respect to the Services
Agreements, none of the Contributed Entities will sponsor, maintain or
contribute to, or have any legal or equitable obligation to establish, any
compensation or benefit plan, agreement, program or policy (whether written or
oral, formal or informal) for the benefit of any present or former directors,
officers, employees, agents, consultants or other similar representatives,
including, but not limited to, any “employee benefit plan” as defined in
section 3(3) of the Employee Retirement Income Security Act of 1974, as amended
(“ERISA”) (the foregoing are hereinafter collectively referred to as “Plans”).
	 
	 	(c)	 	Except as would not result in any liability to the Partnership
Parties or the Contributed Entities, (i) each Plan in which Associated
Employees participate and that is intended to be qualified under Section 401(a)
of the Code is and has been so qualified in form, and (ii) each Plan in which
Associated Employees participate is and has been operated and maintained in
material compliance with its terms and the provisions of all Applicable Laws,
rules and regulations, including, without limitation, ERISA and the Code.
	 
	 	(d)	 	With respect to any Plan that a Contributing Party (or any
entity treated as a single employer with a Contributing Party for purposes of
Section 414 of the Code or Section 4001(a)(14) of ERISA (the “Contributing
Parties

31

 

	 	 	 	Aggregated Group”)) has maintained within the last six years or has had
any obligation to contribute to within the past six years, (i) except for an
event described in Section 4043(c)(3) of ERISA and except for an event that
would not impose any liability on the Partnership Parties or the Contributed
Entities, there has been no “reportable event,” as that term is defined in
Section 4043 of ERISA, for which the 30-day reporting requirement has not been
waived, and the transactions contemplated by this Agreement will not result in
such a “reportable event” for which a waiver does not apply, (ii) none of the
Contributed Entities, the Contributing Parties or any member of the
Contributing Parties Aggregated Group has incurred any direct or indirect
liability under Title IV of ERISA other than liability for premiums to the
Pension Benefit Guaranty Corporation that have been timely paid and other than
any liabilities for which the Contributed Entities have no direct or indirect
responsibility or obligation and (iii) there does not exist any accumulated
funding deficiency within the meaning of Section 412 of the Code or Section 302
of ERISA, whether or not waived that, in either case, would give rise to a Lien
on any of the Transferred Assets or that would reasonably be expected to result
in a Transferred Businesses Material Adverse Effect. None of the Contributed
Entities, the Contributing Parties or any member of the Contributing Parties
Aggregated Group contributes to, or has an obligation to contribute to, and has
not within six years prior to the Closing Date contributed to, or had an
obligation to contribute to, a “multiemployer plan” within the meaning of
Section 3(37) of ERISA (x) that is, or is reasonably expected to be in
“critical” or “endangered” status as defined in Section 432 of the Code or
Section 305 of ERISA, or (y) in respect of which a Contributed Entity,
Contributing Party or any member of the Contributing Parties Aggregated Group
has or may reasonably be expected to incur any withdrawal liability (as defined
in Section 4201 of ERISA).
	 
	 	(e)	 	The present value of the aggregate benefit liabilities under
each of the Plans subject to Title IV of ERISA (other than multiemployer plans)
(the “Title IV Plans”), determined as of the end of such Title IV Plan’s most
recently ended plan year on the basis of the actuarial assumptions specified
for funding purposes in such Title IV Plan’s most recent actuarial valuation
report, did not exceed the aggregate current value of the assets of such Title
IV Plan allocable to such benefit liabilities. The term “benefit liabilities”
has the meaning specified in section 4001 of
ERISA and the terms “current value” and “present value” have the meaning
specified in section 3 of ERISA.
	 
	 	(f)	 	Except as would not result in any liability to a Contributed
Entity (other than with respect to liability of a Contributed Entity arising
from it being a party to a Services Agreement), the execution and delivery of
this Agreement and the consummation of the transactions contemplated by this
Agreement will not (either alone or upon the occurrence of any subsequent

32

 

	 	 	 	employment-related event) result in any payment becoming due, result in the
acceleration of the time of payment or vesting of any such benefits, result in
the incurrence or acceleration of any other obligation related to the Plans or
to any employee or former employee of the Contributing Parties or any of their
Affiliates.
	 
	 	(g)	 	All costs and liabilities associated with Associated Employees
and any former employees who have provided services with respect to the
Transferred Assets have been allocated in good faith amongst the Contributing
Parties and their Affiliates and the Contributed Entities.

3.17 Labor Matters.

There is no labor strike, or other material dispute, slowdown or stoppage pending or, to the
Knowledge of the Contributing Parties, threatened against any Contributing Party, Contributed
Entity or Williams with respect to any employee that will be providing services in connection with
the Transferred Businesses and the Transferred Assets.

3.18 Transactions with Affiliates.

Except as otherwise contemplated in this Agreement or as set forth on Disclosure Schedule
3.18, none of the Contributed Entities is party to, and immediately after Closing will not be
party to, any agreement, contract or arrangement between such Contributed Entity, on the one hand,
and any of its Affiliates, on the other hand, other than (a) those entered into in the ordinary
course of business relating to the provision of natural gas gathering, processing, treating,
transportation and storage services and NGL marketing services or for the purchase of power, the
purchase or sale of natural gas for fuel or system requirements or the purchase or sale of liquid
products, in each case, on commercially reasonable terms and (b) those entered into for purposes of
hedging future anticipated purchases or sales of commodities as authorized under the Williams
Midstream Commodity Transaction Policy.

3.19 Insurance.

Except as set forth in Disclosure Schedule 3.19, the Transferred Assets are covered by, and
immediately after the Closing will be, insured under, insurance policies underwritten by reputable
insurers that include coverages and related limits and deductibles that are customary in
the natural gas gathering, processing, treating, transportation and storage industries and NGL
marketing industry and consistent with past practice. All such insurance policies are, and after
Closing will continue, in full force and effect and all premiums due and payable on such policies
have been paid. No notice of cancellation of, or indication of an intention not to renew, any such
insurance policy has been received by any Contributing Party other than in the ordinary course of
business.

3.20 Intellectual Property Rights.

Each Contributed Entity owns or has the right to use all Intellectual Property necessary for or
used in the conduct of its business as currently conducted by the Transferred Businesses, and their
products and services do not infringe upon, misappropriate or otherwise violate any

33

 

Intellectual
Property of any third party. All Intellectual Property owned by any Contributed Entity is free and
clear of all Liens (other than Permitted Liens). Neither the execution or delivery of this
Agreement, nor the consummation of the transactions contemplated hereby will, with or without
notice or lapse of time, result in, or give any other Person the right or option to cause or
declare, a breach or termination of, or cancellation or reduction in rights of any Contributed
Entity under any contract providing for the license of any Intellectual Property to such
Contributed Entity, except for any such terminations, cancellations or reductions that,
individually or in the aggregate, would not have a Transferred Businesses Material Adverse Effect.
There is no Intellectual Property-related action, suit, proceeding, hearing, investigation, notice
or complaint pending or threatened, by any third party before any court or tribunal (including,
without limitation, the United States Patent and Trademark Office or equivalent authority anywhere
in the world) relating to the Transferred Businesses, the Transferred Assets or the Contributed
Entities’ operations relating thereto, nor has any claim or demand been made by any third party
that alleges any infringement, misappropriation, or violation of any Intellectual Property of any
third party, or unfair competition or trade practices by any of the Contributed Entities. Except as
would not result in a Transferred Businesses Material Adverse Effect, the Contributed Operating
Entities have taken reasonable measures to protect the confidentiality of all material trade
secrets.

3.21 Investment Company Act.

None of the Contributing Parties, Williams nor the Contributed Entities is, nor immediately after
the Closing will be, subject to regulation under the Investment Company Act of 1940, as amended.

3.22 Brokerage Arrangements.

None of the Contributing Parties or Williams has entered (directly or indirectly) into any
agreement with any Person that would obligate the Contributing Parties or Williams to pay any
commission, brokerage or “finder’s fee” or other similar fee in connection with this Agreement, the
CCA Agreement or the transactions contemplated hereby or thereby, except as set forth on
Disclosure Schedule 3.22.

3.23 Liabilities Associated with Natural Gas Contracts.

There has been no misallocation, calculation error, measurement problem or similar event relating
to the performance by the Contributed Entities under any natural gas gathering, processing,
treating, transportation or storage contract or NGL marketing contract that would give rise to a
correcting adjustment under any such contract that would reasonably be expected to result in a
liability to the Partnership Parties in excess of $37,500,000.

3.24 Books and Records.

Accurate copies of the respective books of account, minute books, stock or other equity record
books of each Contributing Party and each Contributed Entity have been made available for
inspection to the Partnership Parties.

34

 

3.25 Investment Intent.

The Contributing Parties have substantial experience in analyzing and investing in entities like
the Partnership and are capable of evaluating the merits and risks of their investment in the
Partnership. The Contributing Parties are acquiring the Equity Consideration solely for the purpose
of investment and not with a view to, or for offer or sale in connection with, any distribution
thereof in violation of the Securities Act or state securities laws. The Contributing Parties
acknowledge that the Equity Consideration will not be registered under the Securities Act or any
applicable state securities law, and that such Equity Consideration may not be transferred or sold
except pursuant to the registration provisions of the Securities Act or pursuant to an applicable
exemption therefrom and pursuant to state securities laws and regulations as applicable. The
Contributing Parties acknowledge that each certificate representing the Equity Consideration shall
bear a legend in substantially the following form:

THE HOLDER OF THIS SECURITY ACKNOWLEDGES FOR THE BENEFIT OF WILLIAMS PARTNERS L.P. THAT THIS
SECURITY MAY NOT BE SOLD, OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED IF SUCH TRANSFER WOULD
(A) VIOLATE THE THEN APPLICABLE FEDERAL OR STATE SECURITIES LAWS OR RULES AND REGULATIONS OF THE
SECURITIES AND EXCHANGE COMMISSION, ANY STATE SECURITIES COMMISSION OR ANY OTHER GOVERNMENTAL
AUTHORITY WITH JURISDICTION OVER SUCH TRANSFER, (B) TERMINATE THE EXISTENCE OR QUALIFICATION OF
WILLIAMS PARTNERS L.P. UNDER THE LAWS OF THE STATE OF DELAWARE, OR (C) CAUSE WILLIAMS PARTNERS L.P.
TO BE TREATED AS AN ASSOCIATION TAXABLE AS A CORPORATION OR OTHERWISE TO BE TAXED AS AN ENTITY FOR
FEDERAL INCOME TAX PURPOSES (TO THE EXTENT NOT ALREADY SO TREATED OR TAXED). WILLIAMS PARTNERS GP
LLC, THE GENERAL PARTNER OF WILLIAMS PARTNERS L.P., MAY IMPOSE ADDITIONAL RESTRICTIONS ON THE
TRANSFER OF THIS SECURITY IF IT RECEIVES AN OPINION OF COUNSEL THAT SUCH RESTRICTIONS ARE NECESSARY
TO AVOID A SIGNIFICANT RISK OF WILLIAMS PARTNERS L.P. BECOMING TAXABLE AS A
CORPORATION OR OTHERWISE BECOMING TAXABLE AS AN ENTITY FOR FEDERAL INCOME TAX PURPOSES. THE
RESTRICTIONS SET FORTH ABOVE SHALL NOT PRECLUDE THE SETTLEMENT OF ANY TRANSACTIONS INVOLVING THIS
SECURITY ENTERED INTO THROUGH THE FACILITIES OF ANY NATIONAL SECURITIES EXCHANGE ON WHICH THIS
SECURITY IS LISTED OR ADMITTED TO TRADING.

3.26 Waivers and Disclaimers.

NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THIS AGREEMENT AND THE CONTRIBUTING PARTIES
CLOSING DOCUMENTS, EXCEPT FOR THE EXPRESS REPRESENTATIONS AND WARRANTIES AND OTHER COVENANTS AND
AGREEMENTS MADE BY THE CONTRIBUTING PARTIES IN THIS AGREEMENT, THE CONTRIBUTING PARTIES HAVE NOT
MADE, DO NOT MAKE, AND SPECIFICALLY NEGATE AND DISCLAIM ANY REPRESENTATIONS, WARRANTIES, PROMISES,
COVENANTS, AGREEMENTS OR GUARANTIES OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER EXPRESS, IMPLIED
OR

35

 

STATUTORY, ORAL OR WRITTEN, PAST OR PRESENT REGARDING (A) THE VALUE, NATURE, QUALITY OR
CONDITION OF THE TRANSFERRED ASSETS INCLUDING, WITHOUT LIMITATION, THE WATER, SOIL, GEOLOGY OR
ENVIRONMENTAL CONDITION OF THE TRANSFERRED ASSETS GENERALLY, INCLUDING THE PRESENCE OR LACK OF
HAZARDOUS SUBSTANCES OR OTHER MATTERS ON THE TRANSFERRED ASSETS, (B) THE INCOME TO BE DERIVED FROM
THE TRANSFERRED ASSETS, (C) THE SUITABILITY OF THE TRANSFERRED ASSETS FOR ANY AND ALL ACTIVITIES
AND USES THAT MAY BE CONDUCTED THEREON, (D) THE COMPLIANCE OF OR BY THE TRANSFERRED ASSETS OR THEIR
OPERATION WITH ANY LAWS (INCLUDING WITHOUT LIMITATION ANY ZONING, ENVIRONMENTAL PROTECTION,
POLLUTION OR LAND USE LAWS, RULES, REGULATIONS, ORDERS OR REQUIREMENTS), OR (E) THE HABITABILITY,
MERCHANTABILITY, MARKETABILITY, PROFITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF THE
TRANSFERRED ASSETS. EXCEPT TO THE EXTENT PROVIDED IN THIS AGREEMENT OR IN THE CONTRIBUTING PARTIES
CLOSING DOCUMENTS, NEITHER THE CONTRIBUTING PARTIES NOR ANY OF THEIR AFFILIATES SHALL BE LIABLE OR
BOUND IN ANY MANNER BY ANY VERBAL OR WRITTEN STATEMENTS, REPRESENTATIONS OR INFORMATION PERTAINING
TO THE CONTRIBUTING PARTIES, THE TRANSFERRED BUSINESSES OR THE TRANSFERRED ASSETS FURNISHED BY ANY
AGENT, EMPLOYEE, SERVANT OR THIRD PARTY. THE PROVISIONS OF THIS SECTION 3.26 HAVE BEEN
NEGOTIATED BY THE PARTIES AFTER DUE CONSIDERATION AND ARE INTENDED TO BE A COMPLETE EXCLUSION AND
NEGATION OF ANY REPRESENTATIONS OR WARRANTIES, WHETHER EXPRESS, IMPLIED OR STATUTORY, WITH RESPECT
TO THE CONTRIBUTING PARTIES, THE CONTRIBUTED ENTITIES, THE TRANSFERRED BUSINESSES OR THE
TRANSFERRED ASSETS THAT MAY ARISE PURSUANT TO
ANY LAW NOW OR HEREAFTER IN EFFECT, OR OTHERWISE, EXCEPT AS SET FORTH IN THIS AGREEMENT.

ARTICLE 4

REPRESENTATIONS AND WARRANTIES OF THE PARTNERSHIP PARTIES

The Partnership Parties hereby represent and warrant to the Contributing Parties as follows:

4.1
Organization and Existence.

The Partnership is a limited partnership duly formed, validly existing and in good standing under
the laws of the State of Delaware and has all requisite limited partnership power and authority to
own, operate and lease its properties and assets and to carry on its business as now conducted. The
Operating Company is a limited liability company duly formed, validly existing and in good standing
under the laws of the State of Delaware and has all requisite limited liability company power and
authority to own, operate and lease its properties and assets and to carry on its business as now
conducted.

36

 

4.2 Authority and Approval.

	 	(a)	 	Each of the Partnership Parties has full limited partnership or
limited liability company power and authority, as applicable, to execute and
deliver this Agreement, to consummate the transactions contemplated hereby and
to perform all of the terms and conditions hereof to be performed by it. The
execution and delivery of this Agreement, the consummation of the transactions
contemplated hereby and the performance of all of the terms and conditions
hereof to be performed by the Partnership Parties have been duly authorized and
approved by all requisite limited partnership action or limited liability
company action, as applicable, of each of the Partnership Parties. This
Agreement has been duly executed and delivered by each of the Partnership
Parties and constitutes the valid and legally binding obligation of each of
them, enforceable against each of them in accordance with its terms, except as
such enforcement may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium, fraudulent conveyance or other similar laws
affecting the enforcement of creditors’ rights and remedies generally and by
general principles of equity (whether applied in a proceeding at law or in
equity).
	 
	 	(b)	 	Each of the Partnership Parties has full limited partnership or
limited liability company power and authority, as applicable, to execute and
deliver each Ancillary Agreement to which it is a party or signatory, to
consummate the transactions contemplated thereby and to perform all of the
terms and conditions thereof to be performed by it. The execution and
delivery by each of the Partnership Parties of each of the Ancillary
Agreements to which it will be a party, the consummation of the transactions
contemplated thereby and the performance of all of the terms and conditions
thereof to be performed by it have been duly authorized and approved by all
requisite limited partnership action or limited liability company action, as
applicable, of each of the Partnership Parties. When executed and delivered
by each of the parties party thereto, each Ancillary Agreement will
constitute a valid and legally binding obligation of each of the Partnership
Parties that is a party thereto, enforceable against each such Partnership
Party in accordance with its terms, except as such enforcement may be
limited by applicable bankruptcy, insolvency, reorganization, moratorium,
fraudulent conveyance or other similar laws affecting the enforcement of
creditors’ rights and remedies generally and by general principles of equity
(whether applied in a proceeding at law or in equity).

4.3 No Conflict; Consents.

	 	(a)	 	The execution, delivery and performance of this Agreement by
the Partnership Parties does not, and the execution, delivery and performance
by each of the Partnership Parties of each of the Ancillary Agreements by

37

 

	 	 	 	the
Partnership Parties party thereto will not, and the fulfillment and compliance
with the terms and conditions hereof and the consummation of the transactions
contemplated hereby and thereby will not, (i) violate, conflict with any of,
result in any breach of, or require the consent of any Person under, the terms,
conditions or provisions of the certificates of formation, limited liability
company agreements, limited partnership agreements or equivalent governing
instruments of any Partnership Party; (ii) violate any provision of any law or
administrative rule or regulation or any judicial, administrative or
arbitration order, award, judgment, writ, injunction or decree applicable to
any of such Partnership Parties or any property or asset of such Partnership
Parties; (iii) conflict with, result in a breach of, constitute a default under
(whether with notice or the lapse of time or both), or accelerate or permit the
acceleration of the performance required by, or require any consent,
authorization or approval under, any indenture, mortgage, agreement, contract,
commitment, license, concession, permit, lease, joint venture or other
instrument to which any of such Partnership Parties is a party or by which
either of them is bound or to which any of their property is subject, except in
the case of clauses (ii) or (iii), for those items which individually or in the
aggregate would not reasonably be expected to have a Partnership Material
Adverse Effect; and
	 
	 	(b)	 	no consent, approval, license, permit, order or authorization
of any Governmental Authority or other Person is required to be obtained or
made by or with respect to the Partnership Parties in connection with the
execution, delivery, and performance of this Agreement and the Ancillary
Agreements or the consummation of the transactions contemplated hereby and
thereby, except (i) as have been waived or obtained or with respect to which
the time for asserting such right has expired, (ii) for those which
individually or in the aggregate would not reasonably be expected to have a
Partnership Material Adverse Effect (including such consents, approvals,
licenses, permits, orders or authorizations that are not customarily obtained
prior to the Closing and are reasonably expected to be obtained in the ordinary
course of business following the Closing), or (iii) pursuant to the applicable
requirements of the HSR Act.

4.4 Brokerage Arrangements.

Neither of the Partnership Parties has entered (directly or indirectly) into any agreement with any
Person that would obligate the Partnership Parties or any of their Affiliates to pay any
commission, brokerage or “finder’s fee” or other similar fee in connection with this Agreement, the
CCA Agreement or the transactions contemplated hereby or thereby, except as set forth on
Disclosure Schedule 4.4.

4.5 Litigation.

There are no civil, criminal or administrative actions, suits, claims, hearings, arbitrations,
investigations or proceedings pending or, or to the Partnership Parties’ Knowledge, threatened

38

 

that
(a) questions or involves the validity or enforceability of any of the Partnership Parties’
obligations under this Agreement or any of the Ancillary Agreements or (b) seeks (or reasonably
might be expected to seek) (i) to prevent or delay the consummation by the Partnership Parties of
the transactions contemplated by this Agreement or any of the Ancillary Agreements or (ii) damages
in connection with any such consummation.

4.6 Valid Issuance; Listing.

	 	(a)	 	The offer and sale of the Class C Units in the Private Equity
Placement and the limited partner interests represented thereby have been duly
authorized by the Partnership pursuant to the Partnership Agreement and, when
issued and delivered to the Contributing Parties in accordance with the terms
of this Agreement, the Partnership Agreement and the Partnership Agreement
Amendment, will be validly issued, fully paid (to the extent required by the
Amended Partnership Agreement) and nonassessable (except as such
nonassessability may be affected by Sections 17-303, 17-607 and 17-804 of the
Delaware LP Act), will be free of any and all Liens and restrictions on
transfer, other than restrictions on
transfer under the Amended Partnership Agreement and under applicable state
and federal securities laws. The Common Units issuable upon the conversion
of the Class C Units and the limited partner interests represented thereby
have been duly authorized by the Partnership pursuant to the Amended
Partnership Agreement and when issued and delivered upon the conversion of
the Class C Units, will be validly issued, fully paid (to the extent
required by the Amended Partnership Agreement) and nonassessable (except as
such nonassessability may be affected by Sections 17-303, 17-607 and 17-804
of the Delaware LP Act).
	 
	 	(b)	 	The Partnership’s currently outstanding Common Units are listed
on the NYSE, and the Partnership has not received any notice of delisting.

ARTICLE 5

ADDITIONAL AGREEMENTS,

COVENANTS, RIGHTS AND OBLIGATIONS

5.1 Operation of the Transferred Assets and Transferred Businesses.

	 	(a)	 	Except as provided by this Agreement or the CCA Agreement
(including, for purposes of clarification, any movement of ownership interests
or reorganizations internal to the entities controlled directly or indirectly
by Williams and its Affiliates other than the Contributing Parties that are
necessary to position the Contributed Interests for contribution pursuant to
the terms of this Agreement and the CCA Agreement) or as consented to by the
Partnership Parties, during the period from the date of this Agreement through
the Closing Date, the Contributing Parties shall and shall cause the
Contributed Entities to (or, with respect to any Partially Owned Entity or
Partially Owned Subsidiary, shall use commercially

39

 

	 	 	 	reasonable efforts to cause
such Partially Owned Entity or Partially Owned Subsidiary to):

	 	(i)	 	conduct their businesses and operations
relating to the Transferred Assets and the Transferred Businesses in
the usual and ordinary course thereof; and
	 
	 	(ii)	 	preserve, maintain and protect the Transferred
Assets and their businesses and operations related thereto as are now
being conducted;

	 	 	provided, however, the Contributing Parties shall not, to the extent commercially
unreasonable, be required to make any payments or enter into any contractual
arrangements or understandings to satisfy the foregoing obligations in this
Section 5.1.

	 	(b)	 	Except (i) as provided by this Agreement or the CCA Agreement
(including, for purposes of clarification, the transactions contemplated by
Section 6.2(i) and any movement of ownership interests or
reorganizations internal to the entities controlled directly or indirectly by
Williams and its Affiliates other than the Contributing Parties that are
necessary to position the Contributed Interests for contribution pursuant to
the terms of this Agreement and the CCA Agreement), (ii) as set forth in
Disclosure Schedule 5.1(b) or (iii) as consented to by the Partnership
Parties, during the period from the date of this Agreement through the Closing
Date, none of the Contributing Parties shall (to the extent such action would
affect the Transferred Assets or the Transferred Businesses), and they shall
not permit any Contributed Entity to (or, with respect to any Partially Owned
Entity or Partially Owned Subsidiary, shall use commercially reasonable efforts
not to permit any such Partially Owned Entity or Partially Owned Subsidiary
to):

	 	(i)	 	amend its organizational documents;
	 
	 	(ii)	 	liquidate, dissolve, recapitalize or otherwise
wind up its business;
	 
	 	(iii)	 	make any material change in any method of
accounting or accounting principles, practices or policies, other than
those required by GAAP or Applicable Law;
	 
	 	(iv)	 	make, amend or revoke any material election
with respect to Taxes;
	 
	 	(v)	 	enter into any Material Contract, or terminate
any Material Contract or amend any Material Contract in any material
respect, in each case, other than in the ordinary course of business;

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	 	(vi)	 	purchase or otherwise acquire (including by
lease) any asset or business of, or any equity interest in, any Person
for consideration in excess of $200,000,000 to the extent such asset,
business or equity interest would constitute a Transferred Asset or a
Transferred Business;
	 
	 	(vii)	 	sell, lease or otherwise dispose of any asset
included in the Transferred Assets for consideration in excess of
$200,000,000;
	 
	 	(viii)	 	take any action, refrain from taking any action, or enter into any
agreement or contract that would result in the imposition of any Lien
(other than Permitted Liens) on any of the Transferred Assets;
	 
	 	(ix)	 	file any material lawsuit with respect to the
Transferred Assets or the Transferred Businesses;
	 
	 	(x)	 	cancel, compromise, waive, release or settle
any right, claim or lawsuit with respect to the Transferred Assets or
the Transferred Businesses other than immaterial rights and claims in
the ordinary course of business consistent with past practice;
	 
	 	(xi)	 	undertake any capital project with respect to
the Transferred Assets or the Transferred Businesses in excess of
$200,000,000, other than reasonable capital expenditures in connection
with any emergency or force majeure events;
	 
	 	(xii)	 	merge or consolidate with any Person;
	 
	 	(xiii)	 	make any loan to any Person (other than extensions of credit to
customers in the ordinary course of business and intercompany loans
under Williams’ cash management system in accordance with past
practice);
	 
	 	(xiv)	 	enter into any transactions with the
Contributing Parties or their respective Affiliates, except as
contemplated by this Agreement or, in the ordinary course of business,
for the provision of natural gas gathering, processing, treating,
transportation or storage services or NGL marketing services or for the
purchase of power, the purchase or sale of natural gas for fuel or
system requirements or the purchase or the sale of liquid products, in
each case, on commercially reasonable terms;
	 
	 	(xv)	 	with respect to the Contributed Entities, issue
or sell any equity interests, notes, bonds or other securities, or any
option, warrant or right to acquire the same or incur, assume or
guarantee any indebtedness for borrowed money;

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	 	(xvi)	 	with respect to the Contributed Entities, make
any distribution with respect to its equity interests or redeem,
purchase, or otherwise acquire any of its equity interests;
	 
	 	(xvii)	 	fail to maintain in full force and effect insurance policies covering
the Contributed Entities, the Transferred Assets and the Transferred
Businesses in a form and amount consistent with those disclosed in
Disclosure Schedule 3.19 or customary industry practice;
	 
	 	(xviii)	 	acquire, commence or conduct any activity or business that may
generate income for federal income tax purposes that may not be
“qualifying income” (as such term is defined pursuant to Section 7704
of the Code) in excess of $5,000,000, except to the extent such
activity or business is being conducted on the date of this Agreement;
	 
	 	(xix)	 	take any action that would reasonably be
expected to result in any representation and warranty of the
Contributing Parties set forth in this Agreement becoming untrue in any
material respect;
	 
	 	(xx)	 	fail to make any minimum required contributions
to a Title IV Plan or fail to use commercially reasonable efforts to
ensure that no Title IV Plan is in “at-risk” status (as defined in
Section 303(i)(4) of ERISA or Section 430(i)(4) of the Code); or
	 
	 	(xxi)	 	agree, whether in writing or otherwise, to do
any of the foregoing.

5.2 Access.

The Contributing Parties shall afford the Partnership Parties and their authorized representatives
reasonable access during normal business hours to management personnel and financial, title, tax,
corporate and legal materials and operating data and information relating to the Contributed
Entities, the Transferred Assets, and the Transferred Businesses and shall furnish to the
Partnership Parties such other information as they may reasonably request, unless any such access
and disclosure would violate the terms of any agreement to which the Contributing Parties or any of
their Affiliates or any of the Contributed Entities is bound or any Applicable Law.

5.3 Cooperation; Further Assurances.

	 	(a)	 	The Contributing Parties shall cooperate with the Partnership
Parties to assist in identifying all licenses, authorizations or permits
necessary to own and operate the Transferred Assets from and after the Closing
Date and, where necessary and permissible, transfer existing licenses,
authorizations and permits to the Partnership Parties and, where not
permissible, assist the Partnership Parties in obtaining new licenses,
authorizations or permits at no cost, fee or liability to the Partnership
Parties.

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	 	(b)	 	The Contributing Parties and the Partnership Parties shall use
their respective commercially reasonable efforts (i) to obtain all approvals
and consents required by or necessary for the transactions contemplated by this
Agreement and the Ancillary Agreements, including any approvals and consents
required by the HSR Act, and (ii) to ensure that all of the
conditions to the respective obligations of such parties contained in
Sections 6.1 and 6.2, respectively, are satisfied timely.
Each of the parties acknowledges that certain actions may be necessary with
respect to the matters and actions contemplated by this Agreement and the
Ancillary Agreements such as making notifications and obtaining consents or
approvals or other clearances that are material to the consummation of the
transactions contemplated hereby, and each agrees to take all appropriate
action and to do all things necessary, proper or advisable under Applicable
Laws and regulations to make effective the transactions contemplated by this
Agreement and the Ancillary Agreements; provided, however, that nothing in
this Agreement will require any party hereto to hold separate or make any
divestiture not expressly contemplated herein of any asset or otherwise
agree to any restriction on its operations or other burdensome condition
which would in any such case be material to its assets, liabilities or
business in order to obtain any consent or approval or other clearance
required by this Agreement or any Ancillary Agreement.
	 
	 	(c)	 	The Contributing Parties shall provide such cooperation as the
Partnership Parties may reasonably request in connection with the Rule 144A
Offering, including participating in (i) the preparation of the offering
documentation, (ii) due diligence or other meetings with any underwriters or
initial purchasers of such indebtedness, (iii) meetings with rating agencies
and (iv) road show presentations.

5.4 New York Stock Exchange Approval.

The Partnership will file a supplemental listing application with the NYSE to list the Common Units
to be issued upon the conversion of the Class C Units to be issued in the Private Equity Placement
and will use commercially reasonable efforts to cause such Common Units to be approved for listing
on the NYSE, subject to official notice of issuance.

5.5 Termination of Working Capital Agreement.

The Partnership shall take all actions necessary to terminate the $20,000,000 Working Capital Loan
Agreement, effective June 21, 2009, between Williams, as lender, and the Partnership, as borrower,
with such termination to be effective on or before the Closing Date.

5.6 Continuation of Cash Management Program.

All bank accounts of the Contributed Entities that participate in the Williams cash management
program on the date hereof will continue to participate in such program and have cash swept

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consistent with past practice by Williams until 11:59 p.m., Tulsa, Oklahoma time, on the last day
of the month in which the Closing Date occurs.

5.7 Preparation of Transferred Businesses Financial Statements.

The Contributing Parties shall deliver to the Partnership the audited statements of income (loss),
comprehensive income (loss) and members’ equity, and statements of cash flow for the fiscal year
ended December 31, 2009 for the Transferred Businesses, including the notes thereto and the
auditor’s report thereon (the “2009 Transferred Businesses Financial Statements”) no later than the
date the 2009 Transferred Businesses Financial Statements are required to be filed with the SEC.
The 2009 Transferred Businesses Financial Statements (including the notes thereto) shall be
prepared in accordance with GAAP applied on a consistent basis throughout the periods covered
thereby (except as may be indicated in the notes thereto) and shall present fairly in all material
respects the financial condition of the Transferred Businesses as of such date and the results of
operations of the Transferred Businesses for such period, except as otherwise noted therein.

5.8 Payment of Fee in Certain Circumstances.

If all of the conditions set forth in Section 6.2, other than the condition in Section
6.2(e), have been satisfied and the Contributing Parties do not proceed with the Closing, the
Contributing Parties shall pay to the Partnership in accordance with the percentages set forth on
Exhibit E, by wire or interbank transfer of immediately available funds to an account
specified in writing by the Partnership, the amount of $20,000,000, within five (5) business days
from the date the Contributing Parties notify the Partnership Parties of such election to not
proceed with the Closing.

ARTICLE 6

CONDITIONS TO CLOSING

6.1 Conditions to the Obligation of the Partnership Parties.

The obligation of the Partnership Parties to proceed with the Closing contemplated hereby are
subject to the satisfaction on or prior to the Closing Date of all of the following conditions, any
one or more of which may be waived, in whole or in part, by the Partnership Parties:

	 	(a)	 	The representations and warranties of the Contributing Parties
set forth in this Agreement shall be true and correct (without giving effect to
any materiality standard or Transferred Businesses Material Adverse Effect
qualification) as of the date of this Agreement and on the Closing Date as if
made on such date, or in the case of representations and warranties that are
made as of a specified date, such representations and warranties shall be true
and correct (without giving effect to any materiality standard or Transferred
Businesses Material Adverse Effect qualification) as of such specified date,
except, in each case, to the extent that failure of such
representations and warranties to be true and correct would not,

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	 	 	 	individually or in the aggregate, result in a Transferred Businesses
Material Adverse Effect. The Contributing Parties shall have performed or
complied in all material respects with all obligations and covenants
required by this Agreement to be performed or complied with by them by the
time of the Closing. Each Contributing Party shall have delivered to the
Partnership Parties a certificate, dated as of the Closing Date and signed
by an authorized officer of such Contributing Party, confirming the
foregoing matters set forth in this Section 6.1(a) (collectively,
the “Contributing Parties Closing Certificates”).
	 
	 	(b)	 	All necessary filings with and consents, approvals, licenses,
permits, orders and authorizations of any Governmental Authority required for
the consummation of the transactions contemplated in this Agreement (including
any required by the HSR Act) shall have been made and obtained, and all waiting
periods with respect to filings made with Governmental Authorities in
contemplation of the consummation of the transactions described herein shall
have expired or been terminated.
	 
	 	(c)	 	All necessary consents of any Person not a party hereto, other
than any Governmental Authority, required for the consummation of the
transactions contemplated in this Agreement shall have been made and obtained,
including any consents set forth on Disclosure Schedule 3.3.
	 
	 	(d)	 	No statute, rule, regulation, executive order, decree,
temporary restraining order, preliminary or permanent injunction, judgment or
other order shall have been enacted, entered, promulgated, enforced or issued
by any Governmental Authority, or other legal restraint or prohibition
preventing the consummation of the transactions contemplated hereby shall be in
effect, and no investigation, action or proceeding before a Governmental
Authority shall have been instituted or threatened challenging or seeking to
restrain or prohibit the consummation of the transactions contemplated hereby
or to recover damages in connection therewith.
	 
	 	(e)	 	The Partnership Financing Transactions shall have closed or be
ready to close and shall provide available financing to the Partnership in an
amount no less than the amount of the Cash Consideration.
	 
	 	(f)	 	Since the date of this Agreement, there shall not have occurred
a Transferred Businesses Material Adverse Effect.
	 
	 	(g)	 	Not more than one of Standard & Poor’s Financial Services LLC,
Moody’s Investor Service, Inc. and Fitch Ratings Ltd. shall have downgraded the
rating accorded the senior unsecured debt securities of the
Partnership below the rating accorded to such securities as of the last
business day prior to the date of this Agreement.

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	 	(h)	 	The Partnership Parties shall have received an opinion of Andrews Kurth LLP
dated as of the Closing Date to the effect that at least (i) 95% of the
combined gross income with respect to the Transferred Businesses for the most
recent four calendar quarters ending before the Closing Date for which the
necessary financial information is available is from sources treated as
“qualifying income” within the meaning of Section 7704(d) of the Code, and (ii)
95% of the gross income of WMZ for the most recent four calendar quarters
ending before the Closing Date for which the necessary financial information is
available is from sources treated as “qualifying income” within the meaning of
Section 7704(d) of the Code.
	 
	 	(i)	 	The Contributing Parties shall have delivered, or caused to be
delivered, to the Partnership Parties all of the documents, certificates and
other instruments required to be delivered under, and otherwise complied with
the provisions of, Section 2.3(c).

6.2 Conditions to the Obligation of the Contributing Parties.

The obligation of the Contributing Parties to proceed with the Closing contemplated hereby is
subject to the satisfaction on or prior to the Closing Date of all of the following conditions, any
one or more of which may be waived in writing, in whole or in part, by the Contributing Parties:

	 	(a)	 	The representations and warranties of the Partnership Parties
set forth in this Agreement shall be true and correct (without giving effect to
any materiality standard or Partnership Material Adverse Effect qualification)
as of the date of this Agreement and on the Closing Date as if made on such
date, or in the case of representations and warranties that are made as of a
specified date, such representations and warranties shall be true and correct
(without giving effect to any materiality standard or Partnership Material
Adverse Effect qualification) as of such specified date, except, in each case,
to the extent that failure of such representations and warranties to be true
and correct would not, individually or in the aggregate, result in a
Partnership Material Adverse Effect. The Partnership Parties shall have
performed or complied in all material respects with all obligations and
covenants required by this Agreement to be performed or complied with by them
by the time of the Closing. Each of the Partnership Parties shall have
delivered to the Contributing Parties a certificate, dated as of the Closing
Date and signed by an authorized officer of such Partnership Party or its
general partner confirming the foregoing matters set forth in this Section
6.2(a) (together, the “Partnership Parties Closing Certificates”).

	 	(b)	 	All necessary filings with and consents, approvals, licenses,
permits, orders and authorizations of any Governmental Authority required for
the consummation of the transactions contemplated in this Agreement (including
any required by the HSR Act) shall have been made and obtained, and all waiting
periods with respect to filings made with

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	 	 	 	Governmental Authorities in contemplation of the consummation of the
transactions described herein shall have expired or been terminated.

	 	(c)	 	All necessary consents of any Person not a party hereto, other
than any Governmental Authority, required for the consummation of the
transactions contemplated in this Agreement shall have been made and obtained.
	 
	 	(d)	 	No statute, rule, regulation, executive order, decree,
temporary restraining order, preliminary or permanent injunction, judgment or
other order shall have been enacted, entered, promulgated, enforced or issued
by any Governmental Authority, or other legal restraint or prohibition
preventing the consummation of the transactions contemplated hereby shall be in
effect, and no investigation, action or proceeding before a Governmental
Authority shall have been instituted or threatened challenging or seeking to
restrain or prohibit the consummation of the transactions contemplated by this
Agreement or to recover damages in connection therewith.
	 
	 	(e)	 	The Williams Debt Tender, the Rule 144A Offering and the New
Credit Facility shall have closed or be ready to close on terms satisfactory to
Williams in its discretion.
	 
	 	(f)	 	Since the date of this Agreement, there shall not have occurred
a Partnership Material Adverse Effect.
	 
	 	(g)	 	The Common Units to be issued upon the conversion of the Class
C Units to be issued in the Private Equity Placement shall have been approved
for listing on the NYSE, subject only to official notice of issuance.
	 
	 	(h)	 	(i) The Contributing Parties shall have received written
confirmation from Standard & Poor’s Financial Services LLC, Moody’s Investor
Service, Inc. and Fitch Ratings Ltd. that the rating for the securities to be
issued by the Partnership in the Rule 144A Offering will not be less than each
of their lowest investment grade rating (BBB-, Baa3 and BBB-, respectively)
with no negative outlook, (ii) no downgrading shall have occurred in the rating
accorded the senior unsecured debt securities of Williams by Standard & Poor’s
Financial Services LLC, Moody’s Investor Service, Inc. or Fitch Ratings Ltd.,
and (iii) none of Standard & Poor’s Financial Services LLC, Moody’s Investor
Service, Inc. and Fitch Ratings Ltd. shall have publicly announced that it has
under surveillance or review, with possible negative implications, its rating
of any of the senior unsecured debt securities of Williams.
	 
	 	(i)	 	To the extent that any demand notes associated with the
Williams cash management program and reflected in general ledger accounts 1191,
1951 and 2641, between Williams and a Contributed Entity shall have been
satisfied in full to the extent of outstanding balances at 12:01 a.m., Tulsa,

47

 

	 	 	 	Oklahoma time, on the first day of the month in which the Closing Date
occurs, (i) such Contributed Entity shall have authorized and made a
dividend distribution in the same amount as was paid by Williams and (ii) a
dividend distribution of such amount shall have been further authorized and
made as necessary until such amount was distributed to Williams (except, in
the case of NWP, (A) NWP shall have authorized and made a dividend
distribution to its equity holders in the same amount as was paid by
Williams, (B) WGPC Holdings LLC shall have authorized and made a dividend
distribution in the same amount as was received from NWP and (C) WGP shall
have authorized and made a dividend distribution in the same amount as was
received from WGPC Holdings LLC).

	 	(j)	 	The Partnership Parties shall have delivered, or caused to be
delivered, to the Contributing Parties all of the documents, certificates and
other instruments required to be delivered under, and otherwise complied with
the provisions of, Section 2.3(d).

ARTICLE 7

TAX MATTERS

7.1 Liability for Taxes.

	 	(a)	 	The Contributing Parties shall be liable for, and shall
indemnify and hold the Partnership Parties and their respective subsidiaries
harmless from the Applicable Ownership Percentage of Taxes, together with any
costs, expenses, losses or damages, including reasonable expenses of
investigation and attorneys’ and accountants’ fees and expenses, arising out of
or incident to the determination, assessment or collection of such Taxes (“Tax
Losses”), (i) imposed on or incurred by the Contributed Entities or the
Transferred Assets by reason of Treasury Regulations Section 1.1502-6 or any
analogous state, local or foreign law or regulation which is attributable to
having been a member of any consolidated, combined or unitary group on or prior
to and including the Closing Date, (ii) any Tax Losses (other than Tax Losses
described in clause (i) above) imposed on or incurred by or with respect to the
Contributed Entities or the Transferred Assets with respect to the period prior
to and including the Closing Date, or (iii) attributable to a breach by the
Contributing Parties of any representation (other than those contained in
Section 3.11, to which Article 9 shall be applicable), warranty
or covenant with respect to Taxes in this Agreement. The parties hereto agree
that any indemnification or payment obligation of the Contributing Parties with
respect to Taxes of the Contributed Entities, the Transferred Assets
attributable thereto or the Transferred Businesses associated therewith shall
be limited to the Applicable Ownership Percentage of such indemnification or
payment obligation.

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	 	(b)	 	The Partnership Parties shall be liable for, and shall
indemnify and hold the Contributing Parties and their Affiliates (other than
the Partnership Parties and their subsidiaries) harmless from, any Tax Losses
(i) imposed on or incurred by the Contributed Entities, the Transferred Assets
or the Transferred Businesses with respect to the period after the Closing Date
or (ii) attributable to a breach by the Partnership Parties of any covenant
with respect to Taxes in this Agreement. The parties hereto agree that any
indemnification or payment obligation of the Partnership Parties with respect
to Taxes of the Contributed Entities, the Transferred Assets attributable
thereto or the Transferred Businesses associated therewith shall be limited to
the Applicable Ownership Percentage of such indemnification or payment
obligation.
	 
	 	(c)	 	Whenever it is necessary for purposes of this Article 7
to determine the amount of any Taxes imposed on or incurred by the Contributed
Entities, the Transferred Assets or the Transferred Businesses for a taxable
period beginning before and ending after the Closing Date which is allocable to
the period prior to and including the Closing Date, the determination shall be
made, in the case of property or ad valorem taxes or franchise taxes (which are
measured by, or based solely upon capital, debt or a combination of capital and
debt), on a per diem basis and, in the case of other Taxes, by assuming that
such pre-Closing Date period constitutes a separate taxable period applicable
to the Contributed Entities, the Transferred Assets or the Transferred
Businesses and by taking into account the actual taxable events occurring
during such period (except that exemptions, allowances and deductions for a
taxable period beginning before and ending after the Closing Date that are
calculated on an annual or periodic basis, such as the deduction for
depreciation, shall be apportioned to the period prior to and including the
Closing Date ratably on a per diem basis). Notwithstanding anything to the
contrary herein, any franchise tax paid or payable with respect to the
Contributed Entities, the Transferred Assets or the Transferred Businesses
shall be allocated to the taxable period during which the income, operations,
assets or capital comprising the base of such tax is measured, regardless of
whether the right to do business for another taxable period is obtained by the
payment of such franchise tax.
	 
	 	(d)	 	If any of the Partnership Parties or their Affiliates receives
a refund of any Taxes that any of the Contributing Parties is responsible for
hereunder, or if any of the Contributing Parties or their Affiliates receives a
refund of any Taxes that any of the Partnership Parties is responsible for
hereunder, the party receiving such refund shall, within ninety (90) days after
receipt of such refund, remit it to the party who has responsibility for such
Taxes hereunder. The parties shall cooperate in order to take all necessary
steps to claim any such refund.

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7.2 Tax Returns.

	 	(a)	 	The Contributing Parties shall cause to be included in the
consolidated federal income Tax Returns (and the state income Tax Returns of
any state that permits consolidated, combined or unitary income Tax Returns, if
any) of the Williams Tax Group for all periods ending on or before the Closing
Date, all the items of income, gain, loss, deduction and credit (“Tax Items”)
with respect to the Transferred Assets or Transferred Businesses which are
required to be included therein, shall cause such Tax Returns to be timely
filed with the appropriate Taxing Authorities, and shall be responsible for the
timely payment (and entitled to any refund) of all Taxes due with respect to
the periods covered by such Tax Returns.
	 
	 	(b)	 	With respect to any Tax Return covering a taxable period ending
on or before the Closing Date that is required to be filed after the Closing
Date with respect to the Contributed Entities, the Transferred Assets or the
Transferred Businesses that is not described in Section 7.2(a) above,
the Contributing Parties shall (or, with respect to any Partially Owned Entity
or Partially Owned Subsidiary, use commercially reasonable efforts to) cause
such Tax Return to be prepared, cause to be included in such Tax Return all Tax
Items required to be included therein, cause such Tax Return to be filed timely
with the appropriate Taxing Authority, and be responsible for the timely
payment (and entitled to any refund) of the Applicable Ownership Percentage of
Taxes due with respect to the period covered by such Tax Return.
	 
	 	(c)	 	With respect to any Tax Return covering a taxable period
beginning on or before the Closing Date and ending after the Closing Date that
is required to be filed after the Closing Date with respect to the Contributed
Entities, the Transferred Assets or the Transferred Businesses, the
Contributing Parties shall (or, with respect to any Partially Owned Entity or
Partially Owned Subsidiary, use commercially reasonable efforts to) cause such
Tax Return to be prepared, cause to be included in such Tax Return all Tax
Items required to be included therein, furnish a copy of such Tax Return to the
Partnership Parties, file timely such Tax Return with the appropriate Taxing
Authority, and be responsible for the timely payment of the Applicable
Ownership Percentage of Taxes due with respect to the period covered by such
Tax Return (but shall have a right to recover the amount of Tax Losses
attributable to the portion of the taxable period occurring after the Closing
Date pursuant to Section 7.1(b)).
	 
	 	(d)	 	Any Tax Return not yet filed for any taxable period that begins
before the Closing Date with respect to the assets or operations of the
Contributed Entities, the Transferred Assets or the Transferred Businesses
shall be prepared in accordance with past Tax accounting practices used with
respect to the Tax Returns in question (unless such past practices are no
longer permissible under the Applicable Law), and to the extent any items

50

 

	 	 	 	are not covered by past practices, in accordance with reasonable tax
accounting practices selected by the filing party with respect to such Tax
Return under this Agreement with the consent (not to be unreasonably
withheld or delayed) of the non-filing party.

7.3 Tax Treatment of Indemnity Payments.

All indemnification payments made under this Agreement, including any payment made under this
Article 7, shall be treated as increases or decreases to the Cash Consideration for Tax
purposes.

7.4 Transfer Taxes.

The Contributing Parties shall file all necessary Tax Returns and other documentation with respect
to all transfer, documentary, sales, use, stamp, registration and other similar Taxes and fees
arising out of or in connection with the transactions effected pursuant to this Agreement (the
“Transfer Taxes”) and shall be liable for and shall timely pay such Transfer Taxes. If required by
applicable Law, the Partnership Parties shall, and shall cause their Affiliates to, join in the
execution of any such Tax Returns and other documentation.

7.5 Survival.

Anything to the contrary in this Agreement notwithstanding, the representations, warranties,
covenants, agreements, rights and obligations of the parties hereto with respect to any Tax matter
covered by this Agreement shall survive the Closing and shall not terminate until the expiration of
the applicable statutes of limitations (including all periods of extension and tolling) applicable
to such Tax matter.

7.6 Conflict.

In the event of a conflict between the provisions of this Article 7 and any other
provisions of this Agreement, the provisions of this Article 7 shall control.

ARTICLE 8

TERMINATION

8.1 Events of Termination.

This Agreement may be terminated at any time prior to the Closing Date:

	 	(a)	 	by mutual written consent of the parties;
	 
	 	(b)	 	by the Partnership Parties, on the one hand, or the
Contributing Parties, on the other hand, in writing after July 31, 2010, if the
Closing has not occurred by such date, provided that as of such date the
terminating party is not in default under this Agreement;

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	 	(c)	 	by the Partnership Parties, on the one hand, or the
Contributing Parties, on the other hand, in writing without prejudice to other
rights and remedies that the terminating party or its Affiliates may have
(provided the terminating party and its Affiliates are not otherwise in
material default or breach of this Agreement, or have not failed or refused to
close without justification hereunder), if the other party has breached or
failed to perform in any respect any of its representations, warranties,
covenants or agreements contained herein and such breach or failure to perform
(i) would give rise to the failure of a condition specified in Article
6, (ii) cannot be cured or has not been cured within ten (10) days
following delivery of written notice from the non-defaulting party of such
breach of this Agreement and (iii) has not been waived by the non-defaulting
party;
	 
	 	(d)	 	by the Partnership Parties, on the one hand, or the
Contributing Parties, on the other hand, in writing, without liability, if
there shall be any order, writ, injunction or decree of any Governmental
Authority binding on any of the parties, which prohibits or restrains them from
consummating the transactions contemplated hereby, provided that the parties
shall have used their commercially reasonable efforts to have any such order,
writ, injunction or decree lifted and the same shall not have been lifted
within thirty (30) day after entry by any such Governmental Authority;
	 
	 	(e)	 	by the Contributing Parties if any of the conditions set forth
in Section 6.2 have become incapable of fulfillment, and have not been
waived in writing by the Contributing Parties; or
	 
	 	(f)	 	by the Partnership Parties if any of the conditions set forth
in Section 6.1 have become incapable of fulfillment, and have not been
waived in writing by the Partnership Parties;

8.2 Effect of Termination.

If a party terminates this Agreement as provided in Section 8.1 above, such termination
shall be without liability and none of the provisions of this Agreement shall remain effective or
enforceable, except for those contained in this Section 8.2 and Article 10.
Notwithstanding and in addition to the foregoing, in the event that this Agreement is terminated
pursuant to Section 8.1(c) or if any party is otherwise in breach of this Agreement, (a)
such breaching party or parties shall remain liable for its or their obligations under Article
7 and/or Article 9, and (b) such termination shall not relieve such breaching party of
any liability for a willful breach of any covenant or agreement under this Agreement or be deemed a
waiver of any available remedy (including specific performance, if available) for any such breach.

52

 

ARTICLE 9

INDEMNIFICATION UPON CLOSING

9.1 Indemnification of the Partnership Parties.

Subject to the limitations set forth in this Agreement, the Contributing Parties, from and after
the Closing Date, shall indemnify, defend and hold the Partnership Parties, their subsidiaries
(including the Contributed Entities) and their respective securityholders, directors, officers, and
employees, and the officers, directors and employees of the General Partner, but otherwise
excluding any of the Contributing Parties and their Affiliates (the “Partnership Indemnified
Parties”) harmless from and against any and all Damages suffered or incurred by any Partnership
Indemnified Party as a result of or arising out of (i) any breach or inaccuracy of a representation
or warranty of the Contributing Parties in this Agreement or any Contributing Parties Closing
Document, (ii) any breach of any agreement or covenant on the part of the Contributing Parties made
under this Agreement or any Contributing Parties Closing Document or in connection with the
transaction contemplated hereby or thereby, or (iii) any breach or violation of any Environmental
Laws by the Contributed Entities or relating to the Transferred Assets that occurs prior to
Closing. For purposes of this Section 9.1, whether the Contributing Parties have breached any of
their representations and warranties herein shall be determined without giving effect to any
qualification as to “materiality” (including the word “material” or “Transferred Businesses
Material Adverse Effect”). Furthermore, for purposes of this Section 9.1 and Section
9.11, the Contributing Parties Closing Documents shall be deemed to exclude all Ancillary
Agreements other than the CCA Agreement.

9.2 Indemnification of the Contributing Parties.

Subject to the limitations set forth in this Agreement, the Partnership Parties shall indemnify,
defend and hold the Contributing Parties, their Affiliates (other than any of the Partnership
Indemnified Parties) and their respective securityholders, directors, officers, and employees (the
“Contributing Indemnified Parties”) harmless from and against any and all Damages suffered or
incurred by the Contributing Indemnified Parties as a result of or arising out of (i) any breach or
inaccuracy of a representation or warranty of the Partnership Parties in this Agreement or any
Partnership Parties Closing Document or (ii) any breach of any agreement or covenant on the part of
the Partnership Parties made under this Agreement or any Partnership Parties Closing Document or in
connection with the transaction contemplated hereby or thereby. For purposes of this Section 9.2,
whether the Partnership Parties have breached any of their representations and warranties herein
shall be determined without giving effect to any qualification as to “materiality” (including the
word “material” or “Partnership Material Adverse Effect”). Furthermore, for purposes of this
Section 9.2 and Section 9.11, the Partnership Parties Closing Documents shall be
deemed to exclude all Ancillary Agreements other than the CCA Agreement.

9.3 Tax Indemnification.

With the exception of a breach or inaccuracy of the representations and warranties of the
Contributing Parties contained in Section 3.11, nothing in this Article 9 shall
apply to liability with respect to Taxes, the liability with respect to which shall be as set forth
in Article 7.

53

 

9.4 Survival.

All the provisions of this Agreement shall survive the Closing, notwithstanding any investigation
at any time made by or on behalf of any party hereto, provided that the representations and
warranties set forth in Articles 3 and 4 and in any certificate delivered in
connection herewith with respect to any of those representations and warranties shall terminate and
expire on the first day of the 18th month following the month in which Closing occurs,
except (a) the representations and warranties of the Contributing Parties set forth in Section
3.11 shall survive until 30 days after the expiration of the applicable statutes of limitations
(including all periods of extension and tolling), (b) the representations and warranties of the
Contributing Parties set forth in Section 3.7, Section 3.12 and Section
3.16 shall terminate and expire on the third anniversary of the Closing Date, (c) the
representations and warranties of the Contributing Parties set forth in Section 3.1,
Section 3.2 and Section 3.4 shall survive forever and (d) the representations and
warranties of the Partnership Parties set forth in Section 4.1 and Section 4.2
shall survive forever. After a representation and warranty has terminated and expired, no
indemnification shall or may be sought pursuant to this Article 9 on the basis of that
representation and warranty by any Person who would have been entitled pursuant to this Article
9 to indemnification on the basis of that representation and warranty prior to its termination
and expiration, provided that in the case of each representation and warranty that shall terminate
and expire as provided in this Section 9.4, no claim presented in writing for
indemnification pursuant to this Article 9 on the basis of that representation and warranty
prior to its termination and expiration shall be affected in any way by that termination and
expiration. The indemnification obligations under this Article 9 or elsewhere in this
Agreement shall apply regardless of whether any suit or action results solely or in part from the
active, passive or concurrent negligence or strict liability of the indemnified party. The
covenants and agreements entered into pursuant to this Agreement to be performed after the Closing
shall survive the Closing.

9.5 Demands.

Each indemnified party hereunder agrees that promptly upon its discovery of facts giving rise to a
claim for indemnity under the provisions of this Agreement, including receipt by it of notice of
any demand, assertion, claim, action or proceeding, judicial or otherwise, by any third party (such
claims for indemnity involving third party claims being collectively referred to herein as the
“Indemnity Claim”), with respect to any matter as to which it claims to be entitled to indemnity
under the provisions of this Agreement, it will give prompt notice thereof in writing to the
indemnifying party, together with a statement of such information respecting any of the foregoing
as it shall have. Such notice shall include a formal demand for indemnification under this
Agreement.

If the indemnified party knowingly failed to notify the indemnifying party thereof in accordance
with the provisions of this Agreement in sufficient time to permit the indemnifying party or its
counsel to defend against an Indemnity Claim and to make a timely response thereto, the
indemnifying party’s indemnity obligation relating to such Indemnity Claim shall be limited to the
extent that such failure has actually prejudiced or damaged the indemnifying party with respect to
that Indemnity Claim.

54

 

9.6 Right to Contest and Defend.

The indemnifying party shall be entitled, at its cost and expense, to contest and defend by all
appropriate legal proceedings any Indemnity Claim for which it is called upon to indemnify the
indemnified party under the provisions of this Agreement; provided, that notice of the intention to
so contest shall be delivered by the indemnifying party to the indemnified party within twenty (20)
days from the date of receipt by the indemnifying party of notice by the indemnified party of the
assertion of the Indemnity Claim. Any such contest may be conducted in the name and on behalf of
the indemnifying party or the indemnified party as may be appropriate. Such contest shall be
conducted by reputable counsel employed by the indemnifying party and not reasonably objected to by
the indemnified party, but the indemnified party shall have the right but not the obligation to
participate in such proceedings and to be represented by counsel of its own choosing at its sole
cost and expense.

The indemnifying party shall have full authority to determine all action to be taken with respect
thereto; provided, however, that the indemnifying party will not have the authority to subject the
indemnified party to any obligation whatsoever, other than the performance of purely ministerial
tasks or obligations not involving material expense or injunctive relief. If the indemnifying party
does not elect to contest any such Indemnity Claim, the indemnifying party shall be bound by the
result obtained with respect thereto by the indemnified party. If the indemnifying party assumes
the defense of an Indemnity Claim, the indemnified party shall agree to any settlement, compromise
or discharge of an Indemnity Claim that the indemnifying party may recommend and that by its terms
obligates the indemnifying party to pay the full amount of the liability in connection with such
Indemnity Claim, which releases the indemnified party completely in connection with such Indemnity
Claim and which would not otherwise adversely affect the indemnified party as determined by the
indemnified party in its sole discretion.

Notwithstanding the foregoing, the indemnifying party shall not be entitled to assume the defense
of any Indemnity Claim (and shall be liable for the reasonable fees and expenses of counsel
incurred by the indemnified party in defending such Indemnity Claim) if the Indemnity Claim seeks
an order, injunction or other equitable relief or relief for other than money damages against the
indemnified party which the indemnified party reasonably determines, after conferring with its
outside counsel, cannot be separated from any related claim for money damages. If such equitable
relief or other relief portion of the Indemnity Claim can be so separated from that for money
damages, the indemnifying party shall be entitled to assume the defense of the portion relating to
money damages.

9.7 Cooperation.

If requested by the indemnifying party, the indemnified party agrees to cooperate with the
indemnifying party and its counsel in contesting any Indemnity Claim that the indemnifying party
elects to contest or, if appropriate, in making any counterclaim against the person asserting the
Indemnity Claim, or any cross-complaint against any person, and the indemnifying party will
reimburse the indemnified party for any expenses incurred by it in so cooperating. At no cost or
expense to the indemnified party, the indemnifying party shall cooperate with the indemnified party
and its counsel in contesting any Indemnity Claim.

55

 

9.8 Right to Participate.

The indemnified party agrees to afford the indemnifying party and its counsel the opportunity to be
present at, and to participate in, conferences with all Persons, including Governmental
Authorities, asserting any Indemnity Claim against the indemnified party or conferences with
representatives of or counsel for such Persons.

9.9 Payment of Damages.

The indemnification required hereunder in respect of Indemnity Claims shall be made by periodic
payments of the amount of Damages in connection therewith, within ten (10) days as and when
reasonably specific bills are received by, or Damages are incurred and reasonable evidence thereof
is delivered to, the indemnifying party. In calculating any amount to be paid by an indemnifying
party by reason of the provisions of this Agreement, the amount shall be reduced by all insurance
proceeds and any indemnification reimbursement proceeds received from third parties credited to or
received by the indemnified party related to the Damages.

9.10 Limitations on Indemnification.

	 	(a)	 	To the extent that the Partnership Indemnified Parties would
otherwise be entitled to indemnification for Damages pursuant to Section
9.1, the Contributing Parties shall be liable only if (i) the Damages with
respect to a claim exceed $400,000 (the “Minimum Claim Amount”) and (ii) the
Damages for all claims that exceed the Minimum Claim Amount exceed, in the
aggregate, $180,000,000 (the “Deductible Amount”), and then the Contributing
Parties shall be liable only for Damages to the extent of any excess over the
Deductible Amount. In no event shall the Contributing Parties’ aggregate
liability to the Partnership Indemnified Parties under Section 9.1
exceed $1,440,000,000 (the “Ceiling Amount”). Notwithstanding the foregoing,
(i) the Deductible Amount shall not apply to breaches or inaccuracies of
representations and warranties contained in Section 3.1, Section
3.2, Section 3.4, Section 3.22 and Section 3.23 and
(ii) the Ceiling Amount shall not apply to breaches or inaccuracies of
representations and warranties contained in Section 3.4; provided, that
the Contributing Parties’ aggregate liability for a breach or inaccuracy of
such Section 3.4 shall not exceed an amount equal to $9,500,000,000
minus the amount of all other Damages payable by the Contributing Parties’
hereunder.

	 	(b)	 	To the extent the Contributing Indemnified Parties would
otherwise be entitled to indemnification for Damages pursuant to Section 9.2, the Partnership Parties shall be liable only if (i) the Damages with
respect to a claim exceed the Minimum Claim Amount and (ii) the Damages for all
claims that exceed the Minimum Claim Amount exceed, in the aggregate, the
Deductible Amount, and then the Partnership Parties shall be liable only for
Damages to the extent of any excess over the Deductible Amount. In no event
shall the Partnership Parties’ aggregate liability to the

56

 

	 	 	 	Contributing Indemnified Parties under Section 9.2 exceed the
Ceiling Amount. Notwithstanding the foregoing, the Deductible Amount shall
not apply to breaches or inaccuracies of representations and warranties
contained in Section 4.1, Section 4.2 and Section
4.4.

	 	(c)	 	Additionally, neither the Partnership Parties, on the one hand,
nor the Contributing Parties, on the other hand, will be liable as an
indemnitor under this Agreement for any consequential, incidental, special,
indirect or exemplary damages suffered or incurred by the indemnified party or
parties except to the extent resulting pursuant to Indemnity Claims.

9.11 Limited Williams Guarantee.

For so long as the Contributing Parties have an indemnification obligation pursuant to this
Article 9, Williams absolutely, irrevocably and unconditionally guarantees the payment of
any and all Damages owed to a Partnership Indemnified Party by the Contributing Parties to the
extent that the Contributing Parties do not fulfill their obligations under this Article 9.
Notwithstanding anything to the contrary contained herein, Williams’ total aggregate potential
liability with respect to this Section 9.11 shall be $1,440,000,000.

9.12 Sole Remedy.

Should the Closing occur, no party shall have liability under this Agreement, any of the Closing
Documents or the transactions contemplated hereby or thereby except as is provided in Article
7 or this Article 9 (other than claims or causes of action arising from intentional
fraud).

ARTICLE 10

MISCELLANEOUS

10.1 Expenses.

Except as otherwise provided herein and regardless of whether the transactions contemplated hereby
are consummated, each party shall pay its own expenses incident to this Agreement and all action
taken in preparation for carrying this Agreement into effect.

10.2 Notices.

Any notice, request, instruction, correspondence or other document to be given hereunder by any
party hereto to another party hereto (herein collectively called “Notice”) shall be in writing and
delivered in person or by courier service requiring acknowledgment of receipt of delivery or by
telecopier, as follows:

If to the Contributing Parties, addressed to:

The Williams Companies, Inc.

One Williams Center

Tulsa, Oklahoma 74172-0172

Attention: General Counsel

57

 

Telecopy: (918) 573-5942

with a copy to:

Gibson, Dunn & Crutcher LLP

1801 California Street

42nd Floor

Denver, CO 80202

Attention: Richard M. Russo

Telecopy: (303) 298-5907

If to the Partnership Parties, addressed to:

Williams Partners L.P.

One Williams Center

Tulsa, Oklahoma 74172-0172

Attention: Chief Financial Officer

Telecopy: (918) 573-0871

with copies to:

Williams Partners L.P.

One Williams Center, Suite 4900

Tulsa, Oklahoma 74172-0172

Attention: General Counsel and Conflicts Committee Chair

Telecopy: (918) 573-5942

and

Baker Botts L.L.P.

910 Louisiana Street

Houston, Texas 77002

Attention: Joshua Davidson

Telecopy: (713) 229-2727

Notice given by personal delivery or courier service shall be effective upon actual receipt. Notice
given by telecopier shall be confirmed by appropriate answer back and 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. Any party may change any address to which Notice is to be given to it by giving Notice as
provided above of such change of address.

10.3 Governing Law.

This Agreement shall be governed and construed in accordance with the substantive laws of the State
of New York without reference to principles of conflicts of law.

58

 

10.4 Public Statements.

The parties hereto shall consult with each other and no party shall issue any public announcement
or statement with respect to this Agreement or the transactions contemplated hereby without the
consent of the other party, unless the party desiring to make such announcement or statement, after
seeking such consent from the other parties, obtains advice from legal counsel that a public
announcement or statement is required by Applicable Law or stock exchange regulations.

10.5 Entire Agreement; Amendments and Waivers.

	 	(a)	 	This Agreement and the Closing Documents constitute the entire
agreement among the parties with respect to the subject matter hereof and
supersede all prior agreements and understandings, both written and oral, among
the parties with respect to the subject matter hereof. Each party to this
Agreement agrees that no other party to this Agreement (including its agents
and representatives) has made any representation, warranty, covenant or
agreement to or with such party relating to this Agreement or the transactions
contemplated hereby, other than those expressly set forth herein and in the
Closing Documents.
	 
	 	(b)	 	No supplement, modification or waiver of this Agreement shall
be binding unless executed in writing by each party to be bound thereby. No
waiver of any of the provisions of this Agreement shall be deemed or shall
constitute a waiver of any other provision hereof (regardless of whether
similar), nor shall any such waiver constitute a continuing waiver unless
otherwise expressly provided.

10.6 Conflicting Provisions.

This Agreement and the Closing Documents, read as a whole, set forth the parties’ rights,
responsibilities and liabilities with respect to the transactions contemplated by this Agreement.
In the Agreement and the Closing Documents, and as between them, specific provisions prevail over
general provisions. In the event of a conflict between this Agreement and the Closing Documents,
this Agreement shall control.

10.7 Binding Effect and Assignment.

This Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective permitted successors and assigns, but neither this Agreement nor any of the rights,
benefits or obligations hereunder shall be assigned or transferred, by operation of law or
otherwise, by any party hereto without the prior written consent of each other party. Nothing in
this Agreement, express or implied, is intended to confer upon any person or entity other than the
parties hereto and their respective permitted successors and assigns, any rights, benefits or
obligations hereunder.

59

 

10.8 [Reserved]

10.9 Severability.

If any provision of the Agreement is rendered or declared illegal or unenforceable by reason of any
existing or subsequently enacted legislation or by decree of a court of last resort, the
Partnership Parties and the Contributing Parties shall promptly meet and negotiate substitute
provisions for those rendered or declared illegal or unenforceable, but all of the remaining
provisions of this Agreement shall remain in full force and effect.

10.10 Interpretation.

It is expressly agreed by the parties that neither this Agreement nor any of the Closing Documents
shall be construed against any party, and no consideration shall be given or presumption made, on
the basis of who drafted this Agreement, any Closing Document or any provision hereof or thereof or
who supplied the form of this Agreement or any of the Closing Documents. Each party agrees that
this Agreement has been purposefully drawn and correctly reflects its understanding of the
transactions contemplated by this Agreement and, therefore, waives the application of any law,
regulation, holding or rule of construction providing that ambiguities in an agreement or other
document will be construed against the party drafting such agreement or document.

10.11 Headings and Disclosure Schedules.

The headings of the several Articles and Sections herein are inserted for convenience of reference
only and are not intended to be a part of or to affect the meaning or interpretation of this
Agreement. The Disclosure Schedules and the Exhibits referred to herein are attached hereto and
incorporated herein by this reference, and unless the context expressly requires otherwise, the
Disclosure Schedules and such Exhibits are incorporated in the definition of “Agreement.”

10.12 Multiple Counterparts.

This Agreement may be executed in one or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument.

10.13 Action by Partnership Parties.

With respect to any action, notice, consent, approval or waiver that is required to be taken or
given or that may be taken or given by the Partnership Parties prior to the Closing Date, such
action, notice, consent, approval or waiver shall be taken or given by the Conflicts Committee on
behalf of the Partnership Parties.

* * * * *

60

 

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

	 	 	 	 	 	 	 
	 	 	WILLIAMS GAS PIPELINE COMPANY, LLC
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Phillip D. Wright
 

Phillip D. Wright
	 	 
	 

	 	Title:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	WILLIAMS ENERGY SERVICES, LLC
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Alan S. Armstrong
 

Alan S. Armstrong
	 	 
	 

	 	Title:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	WGP GULFSTREAM PIPELINE COMPANY, L.L.C.
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Phillip D. Wright
 

Phillip D. Wright
	 	 
	 

	 	Title:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	WILLIAMS PARTNERS GP LLC
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Donald R. Chappel
 

Donald R. Chappel
	 	 
	 

	 	Title:
	 	Chief Financial Officer	 	 

Signature Page to Contribution Agreement

 

 

	 	 	 	 	 	 	 
	 	 	WILLIAMS PARTNERS L.P.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Williams Partners GP LLC, its general partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Donald R. Chappel
 

Donald R. Chappel
	 	 
	 

	 	Title:
	 	Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	WILLIAMS PARTNERS OPERATING LLC
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Williams Partners L.P., its managing member	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Williams Partners GP LLC, its general partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Donald R. Chappel
 

Donald R. Chappel
	 	 
	 

	 	Title:
	 	Chief Financial Officer	 	 

Signature Page to Contribution Agreement

 

 

The undersigned hereby agrees to be bound by the provisions of Section 9.11 of this
Agreement.

	 	 	 	 	 
	THE WILLIAMS COMPANIES, INC.
	 
	 	 	 	 
	By: 

Name:

	 	/s/ Donald R. Chappel
 

Donald R. Chappel
	 	 
	Title:

	 	Chief Financial Officer	 	 

Signature Page to Contribution Agreement

 

 

EXHIBIT A

APPLICABLE OWNERSHIP PERCENTAGE

	 	 	 	 	 
	 	 	Applicable Ownership Percentage
	Name of Entity	 	with respect to Taxes or Damages
	Aux Sable Liquid Products Inc.
	 	 	14.6	%
	Aux Sable Liquid Products LP
	 	 	14.6	%
	Baton Rouge Fractionators LLC
	 	 	31.45	%
	Baton Rouge Pipeline LLC
	 	 	31.45	%
	Black Marlin Pipeline LLC
	 	 	100.0	%
	Cardinal Operating Company, LLC
	 	 	100.0	%
	Cardinal Pipeline Company LLC
	 	 	45.3	%
	Goebel Gathering Company, L.L.C.
	 	 	100.0	%
	Gulf Star Deepwater Services, LLC
	 	 	100.0	%
	Gulfstream Natural Gas System, L.L.C.
	 	 	24.5	%
	HI-BOL Pipeline LLC
	 	 	100.0	%
	Laurel Mountain Midstream Ohio, LLC
	 	 	51.0	%
	Laurel Mountain Midstream Operating LLC
	 	 	51.0	%
	Laurel Mountain Midstream, LLC
	 	 	51.0	%
	Marsh Resources, LLC
	 	 	100.0	%
	Meteetse Joint Venture
	 	 	75.0	%
	Northwest Pipeline GP
	 	 	81.7	%
	Overland Pass Pipeline Company LLC
	 	 	1.0	%

A-1

 

	 	 	 	 	 
	 	 	Applicable Ownership Percentage
	Name of Entity	 	with respect to Taxes or Damages
	Pacific Connector Gas Pipeline, LLC
	 	 	29.98	%*
	Pacific Connector Gas Pipeline, LP
	 	 	29.98	%*
	Parachute Pipeline LLC
	 	 	100.0	%
	Pine Needle LNG Company, LLC
	 	 	35.0	%
	Pine Needle Operating Company, LLC
	 	 	100.0	%
	TransCardinal Company, LLC
	 	 	100.0	%
	TransCarolina LNG Company, LLC
	 	 	100.0	%
	Transcontinental Gas Pipe Line Company, LLC
	 	 	100.0	%
	Wamsutter LLC
	 	 	100.0	%
	WFS Enterprises LLC
	 	 	100.0	%
	WFS Gathering Company, L.L.C.
	 	 	100.0	%
	WFS-Liquids LLC
	 	 	100.0	%
	WFS-Pipeline LLC
	 	 	100.0	%
	WGP Development, LLC
	 	 	100.0	%
	WGPC Holdings LLC
	 	 	100.0	%
	Williams Energy Solutions LLC
	 	 	100.0	%
	Williams Field Services — Gulf Coast Company, L.P.
	 	 	100.0	%
	Williams Field Services Company, LLC
	 	 	100.0	%

 

			
	*	 	Subject to decrease. The Applicable Ownership
Percentage for Pacific Connector Gas Pipeline, LLC and Pacific Connector Gas
Pipeline, LP as of December 31, 2009 was 29.98%. Cash contributions by
Williams and its subsidiaries to these entities have been suspended and the
Applicable Ownership Percentage will therefore decrease each time a cash
contribution is made by one or more of the other members or partners of such
entities. For purposes of clarification, any Taxes imposed on, incurred by or
attributable to, or Damages suffered by, incurred by or attributable to, either
such entity shall be multiplied by the Applicable Ownership Percentage
applicable to the period of time applicable to such Taxes or Damages.

A-2

 

	 	 	 	 	 
	 	 	Applicable Ownership Percentage
	Name of Entity	 	with respect to Taxes or Damages
	Williams Field Services Group, LLC
	 	 	100.0	%
	Williams Flexible Generation, LLC
	 	 	100.0	%
	Williams Gas Processing — Gulf Coast Company, L.P.
	 	 	100.0	%
	Williams Gulf Coast Gathering Company, LLC
	 	 	100.0	%
	Williams Laurel Mountain, LLC
	 	 	100.0	%
	Williams Mobile Bay Producer Services, L.L.C.
	 	 	100.0	%
	Williams NGL Marketing, LLC
	 	 	100.0	%
	Williams Oil Gathering, L.L.C.
	 	 	100.0	%
	Williams Pacific Connector Gas Operator, LLC
	 	 	100.0	%
	Williams PERK, LLC
	 	 	100.0	%
	Williams Pipeline GP LLC
	 	 	100.0	%
	Williams Pipeline Operating LLC
	 	 	48.0	%
	Williams Pipeline Partners L.P.
	 	 	48.0	%
	Williams Pipeline Partners Holding LLC
	 	 	48.0	%
	Williams Pipeline Services LLC
	 	 	100.0	%
	Williams Uinta Gathering, LLC
	 	 	100.0	%

A-3

 

EXHIBIT B

EXPENSES

	1.	 	Any initial purchasers’ discount (already netted upon payment) on the Rule 144A Offering

	2.	 	The aggregate amount of any original issue discount on the notes sold in the Rule 144A
Offering

	3.	 	Other costs (including legal, accounting, printing, rating, etc.) incurred by the Partnership
in connection with the Rule 144A Offering

	4.	 	Fees and expenses of the legal and financial advisors to the Conflicts Committee incurred in
connection with this Agreement and the transactions contemplated hereby, including that
portion of the fees of the financial advisor payable upon closing of the WMZ Offer which, for
the avoidance of doubt, shall be deemed to be an Expense as of the Closing Date

	5.	 	Fees and expenses incurred by the Partnership in connection with establishing the New Credit
Facility

	6.	 	One half of any and all applicable filing fees under the HSR Act

B-1

 

EXHIBIT C

RETAINED ASSETS AND LIABILITIES

	1.	 	Investments in Venezuela in gas compression and processing and NGL fractionation

	2.	 	Canadian olefin liquids extraction and olefin fractionation operations

	3.	 	Louisiana olefins operations, which include an ethane cracker, ethane and propane pipeline
systems, and a propylene splitter

	4.	 	25.5% membership interest in Gulfstream

	5.	 	All of Williams’ other assets and liabilities excluding the Transferred Assets and the
liabilities associated with the Transferred Businesses, including for purposes of
clarification, all assets and liabilities of Williams’ Exploration & Production segment and
its Gas Marketing Services segment

C-1

 

EXHIBIT D

WORKING CAPITAL TARGET CALCULATIONS

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Projected for March 31,
	 	 	Projected for January 31,	 	Projected for February 28,	 	2010 to Provide an
	 	 	2010 to Provide an Example of	 	2010 to Provide an Example	 	Example of the Method of
	 	 	the Method of Calculation and	 	of the Method of Calculation	 	Calculation and
	 	 	Derivation of the Working	 	and Derivation of the	 	Derivation of the Working
	 	 	Capital Target	 	Working Capital Target	 	Capital Target
	Account	 	(all numbers in thousands)	 	(all numbers in thousands)	 	(all numbers in thousands)
	Accounts Receivable — Trade (A 1110)
	 	$	331,944	 	 	$	323,502	 	 	$	337,583	 
	Inventory (A A035)
	 	 	153,442	 	 	 	153,884	 	 	 	154,245	 
	Accounts Payable — Trade (A 2020) and Cash Overdrafts (A 2050)
	 	 	(251,512	)	 	 	(265,361	)	 	 	(266,943	)
	Net Working Capital Target
	 	$	233,874	 	 	$	212,025	 	 	$	224,885	 

D-1

 

EXHIBIT E

PERCENTAGE ALLOCATIONS

	 	 	 	 	 
	 	 	Percentage Allocation of Cash
	 	 	Consideration and Related
	Contributing Party	 	Payments and Class C Units
	Williams Gas Pipeline Company, LLC
	 	 	56.99	%
	Williams Energy Services, LLC
	 	 	40.92	%
	WGP Gulfstream Pipeline Company, L.L.C.
	 	 	2.09	%
	Williams Partners GP LLC
	 	 	—	 

E-1

 

EXHIBIT F

FORM OF CONVEYANCE, CONTRIBUTION AND ASSUMPTION AGREEMENT

(Please see attached.)

 

 

CONVEYANCE, CONTRIBUTION AND ASSUMPTION AGREEMENT

     THIS CONVEYANCE, CONTRIBUTION AND ASSUMPTION AGREEMENT (this “Agreement”) dated February ___,
2010, is made and entered into by and among Williams Energy Services, LLC, a Delaware limited
liability company (“WES”), Williams Gas Pipeline Company, LLC, a Delaware limited liability company
(“WGP”), WGP Gulfstream Pipeline Company, L.L.C., a Delaware limited liability company (“WGPGPC”),
Williams Partners GP, LLC, a Delaware limited liability company (the “General Partner” and,
together with WES, WGP and WGPGPC, the “Contributing Parties”), Williams Partners L.P., a Delaware
limited partnership (the “Partnership”), and Williams Partners Operating LLC, a Delaware limited
liability company and wholly-owned subsidiary of the Partnership (the “Operating Company”). The
above-named entities are sometimes referred to in this Agreement each as a “Party” and collectively
as the “Parties.” Certain capitalized terms used are defined in Article I hereof.

RECITALS

     WHEREAS, the Contributing Parties desire to contribute to the Partnership membership interests
and a limited partner interest in the Delaware limited liability companies and the Delaware limited
partnership set forth below (collectively, the “Contributed Companies”) and to the extent of the
percentages set forth below pursuant to the terms of the Contribution Agreement (as defined below)
and this Agreement, the Partnership desires to transfer the Contributed Interests (as defined
below) to the Operating Company pursuant to this Agreement and the Operating Company desires to
accept all of the Contributed Interests in accordance with the terms of the Contribution Agreement
and this Agreement and to be admitted as a member or a partner of each Contributed Company:

	 	 	 	 	 	 	 
	 	 	Entity	 	Contribution
	 
	 

	 	•
	 	Marsh Resources, LLC
	 	 100% interest
	 
	 	 	 	 	 	 
	 

	 	•
	 	Transcontinental Gas Pipe Line Company, LLC
	 	 100% interest
	 
	 	 	 	 	 	 
	 

	 	•
	 	WGP Development, LLC
	 	 100% interest
	 
	 	 	 	 	 	 
	 

	 	•
	 	WGPC Holdings LLC
	 	 100% interest
	 
	 	 	 	 	 	 
	 

	 	•
	 	Williams Field Services Group, LLC
	 	 100% interest
	 
	 	 	 	 	 	 
	 

	 	•
	 	Williams Pacific Connector Gas Operator, LLC
	 	 100% interest
	 
	 	 	 	 	 	 
	 

	 	•
	 	Williams Pipeline GP LLC
	 	 100% interest
	 
	 	 	 	 	 	 
	 

	 	•
	 	Williams Pipeline Services LLC
	 	 100% interest
	 
	 	 	 	 	 	 
	 

	 	•
	 	Gulfstream Natural Gas System, L.L.C.
	 	 24.5% interest
	 
	 	 	 	 	 	 
	 

	 	•
	 	Pacific Connector Gas Pipeline, LLC
	 	 29.98% or less interest

F-1

 

	 	 	 	 	 	 	 
	 

	 	•
	 	Pacific Connector Gas Pipeline, LP
	 	29.98% or less interest

     All of such contributed membership interests and the limited partnership interest being
hereinafter collectively referred to as the “Contributed Interests”.

     WHEREAS, in order to accomplish the objectives and purposes in the preceding recital, and to
effect the intent of the Parties in connection with the consummation of the transactions
contemplated hereby, the following entities, all of which are Delaware limited liability companies
unless otherwise noted, took the following actions prior to the date hereof:

     1. Williams Pipeline Services Company, a Delaware corporation, converted into Williams
Pipeline Services LLC.

     2. Williams Energy Solutions, Inc., a Delaware corporation, converted into Williams Energy
Solutions, LLC (“Solutions”), The Williams Companies, Inc., a Delaware corporation (“TWC”), sold
and conveyed its 100% membership interest in Solutions to WES, WES was admitted as the sole member
of Solutions and TWC ceased to be a member of Solutions.

     3. HI-BOL Pipeline Company and WFS-Pipeline Company, both Delaware corporations, converted
into HI-BOL Pipeline LLC and WFS-Pipeline LLC, respectively.

     4. WFS Enterprises, Inc. and WFS Liquids Company, both Delaware corporations, and Black Marlin
Pipeline Company, a Texas corporation, converted into WFS Enterprises LLC, WFS Liquids LLC and
Black Marlin Pipeline LLC, respectively.

     5. Williams Midstream Natural Gas Liquids, Inc., a Delaware corporation (“Liquids”), sold and
conveyed its 31.45% membership interest in Baton Rouge Fractionators LLC (“BRF”) to TWC, TWC was
admitted as a member of BRF and Liquids ceased to be a member of BRF.

     6. TWC sold and conveyed its 100% membership interest in Williams Mobile Bay Producer
Services, L.L.C. (“Mobile Bay”) and its 31.45% membership interest in BRF to WES, WES was admitted
as a member of Mobile Bay and BRF and TWC ceased to be a member of Mobile Bay and BRF.

     7. WES sold and conveyed its 100% membership interest in Solutions, Mobile Bay and Williams
NGL Marketing, LLC and its 31.45% membership interest in BRF to Williams Field Services Group, LLC
(“WFS”), WFS was admitted as a member of Solutions, Mobile Bay, Williams NGL Marketing, LLC and BRF
and WES ceased to be a member of Solutions, Mobile Bay, Williams NGL Marketing, LLC and BRF.

     8. Williams Pacific Connector Gas Pipeline, LLC (“Williams Pacific Connector”) sold and
conveyed its entire member interest in Pacific Connector Gas Pipeline, LLC (“Pacific Connector
LLC”) and its entire limited partner interest in Pacific Connector Gas Pipeline, LP (“Pacific
Connector LP”) to WGP, with each of such interests being a 29.98% or less interest, WGP was
admitted as a member of Pacific Connector LLC and as a partner of Pacific Connector LP, and
Williams Pacific Connector ceased to be a member of Pacific Connector LP and a partner of Pacific
Connector LP.

F-2

 

     9. WES, WGP, WGPGPC, the General Partner, the Partnership, the Operating Company and, for a
limited purpose, TWC, entered into that certain Contribution Agreement (the “Contribution
Agreement”) dated January 15, 2010, pursuant to which the Partnership will acquire the Contributed
Interests from the Contributing Parties for the Aggregate Consideration (as defined below).

     WHEREAS, in order to accomplish the objectives and purposes hereunder and to effect the intent
of the Parties in connection with the consummation of the transactions contemplated hereby, the
following entities took the following actions prior to the date hereof:

     1. All intercompany demand notes associated with the TWC cash management program and reflected
in general ledger accounts 1191, 1951 and 2641, between TWC and a Contributed Company or a
subsidiary of a Contributed Company were satisfied in full to the extent of outstanding balances at
12:01 a.m., Tulsa, Oklahoma time, on the first day of the month in which the Closing Date occurs.

     2. To the extent that satisfaction in full of such demand notes resulted in a payment by TWC
to a Contributed Company or a subsidiary of a Contributed Company, (i) such Contributed Company or
subsidiary thereof authorized and made a dividend distribution in the same amount as was paid by
TWC and (ii) a dividend distribution of such amount was further authorized and made as necessary
until such amount was distributed to TWC (except, in the case of Northwest Pipeline GP, a Delaware
general partnership (“NWP”), (a) NWP shall have authorized and made a dividend distribution to its
equity holders in the same amount as was paid by TWC, (b) WGPC Holdings LLC shall have authorized
and made a dividend distribution in the same amount as was received from NWP and (c) WGP shall have
authorized and made a dividend distribution in the same amount as was received from WGPC Holdings
LLC).

     WHEREAS, concurrently with the consummation of the transactions contemplated hereby, each of
the following shall occur:

     1. The Contributing Parties will transfer the Contributed Interests to the Partnership.

     2. The Partnership will complete the sale of up to $3.5 billion in principal amount of its
debt securities to initial purchasers who may resell such securities pursuant to Rule 144A under
the Securities Act of 1933, as amended, the net proceeds of which (the “Issuance Proceeds”) shall
be deposited into a bank account maintained solely by the Partnership (the “Partnership Bank
Account”).

     3. The Partnership shall borrow funds pursuant to the New Credit Facility in an amount equal
to the amount, if any, by which $3.5 billion (less all Estimated Expenses) exceeds the Issuance
Proceeds (the “Debt Proceeds”), and such Debt Proceeds shall be deposited into the Partnership Bank
Account.

     4. As consideration for the transfer of the Contributed Interests, the Partnership shall (i)
pay cash in the amount of $3.5 billion minus the Estimated Expenses (the “Cash Consideration”) to
the Contributing Parties according to their percentage interests set forth on Exhibit E to
the Contribution Agreement, (ii) issue 203,000,000 Class C Units (the “Equity Consideration”) to
the Contributing Parties in the amounts set forth on Exhibit E to the

F-3

 

Contribution Agreement (the “Private Equity Placement”) and (iii) increase the capital account
of the General Partner by an amount equal to the Additional GP Interest and issue a proportionate
number of General Partner Units to the General Partner, each in consideration for a contribution to
the Partnership on behalf of the General Partner of a portion of the Contributed Interests, with
the aggregate of each form of consideration set forth in clauses (i), (ii) and (iii) being
collectively referred to as the “Aggregate Consideration.” The Cash Consideration shall be paid
from the Issuance Proceeds and the Debt Proceeds in the Partnership Bank Account.

     5. The Partnership shall pay its transaction expenses associated with the transactions
contemplated by this Agreement, and the Contributing Parties shall pay their transaction expenses
associated with the transactions contemplated by this Agreement.

     6. The Partnership shall contribute the Contributed Interests to the Operating Company as a
contribution to the capital of the Operating Company, the Operating Company shall be admitted as a
member or partner of each Contributed Company and the applicable Contributing Party shall cease to
be a member or partner of each Contributed Company.

A G R E E M E N T:

     NOW THEREFORE, in consideration of their mutual undertakings and agreements set forth herein
and in the Contribution Agreement, the Parties undertake and agree as follows:

ARTICLE I

DEFINITIONS

     1.1 Definitions. The following capitalized terms have the meanings given below.

          “Additional General Partner Units” has the meaning assigned to such term in Section 2.4.

          “Additional GP Interest” means the dollar amount equal to (a) 2/98ths of the product of the
Issue Price times the aggregate number of Class C Units issued in the Private Equity
Placement, minus (b) the GP Closing Quarter Distribution Reduction Amount.

          “Affiliate” when used with respect to a person or entity, means any other person or entity
that directly or indirectly controls, is controlled by or is under common control with such
first person or entity; provided, however, that (a) with respect to the Contributing
Parties, the term “Affiliate” shall exclude each of the Partnership and the Operating
Company, (b) with respect to the Partnership and the Operating Company, the term “Affiliate”
shall exclude each of the Contributing Parties and (c) the Contributed Companies shall be
deemed to be “Affiliates” (i) prior to the Closing, of the Contributing Parties and (ii) on
and after the Closing, of the Partnership and the Operating Company. No person or entity
shall be deemed an Affiliate of any person or entity solely by reason of the exercise or
existence of rights, interests or remedies under this Agreement.

          “Aggregate Consideration” has the meaning assigned to such term in the recitals.

F-4

 

          “Agreement” has the meaning assigned to such term in the first paragraph of this Agreement.

          “BRF” has the meaning assigned to such term in the recitals.

          “Cash Consideration” has the meaning assigned to such term in the recitals.

          “Class C Units” means the Class C units representing limited partner interests in the
Partnership.

          “Closing” means the closing of the transactions contemplated by the Contribution Agreement.

          “Closing Date” means the date of the Closing.

          “Common Units” has the meaning assigned to such term in the Partnership Agreement.

          “Contributed Companies” has the meaning assigned to such term in the recitals.

          “Contributed Interests” has the meaning assigned to such term in the recitals.

          “Contribution Agreement” has the meaning assigned to such term in the recitals.

          “Contributing Parties” has the meaning assigned to such term in the first paragraph of this
Agreement.

          “Debt Proceeds” has the meaning assigned to such term in the recitals.

          “Equity Consideration” has the meaning assigned to such term in the recitals.

          “Estimated Expenses” means the aggregate amount of a good faith estimate of each component
of the Expenses as of the Closing Date.

          “Expenses” means all expenses listed on Exhibit B to the Contribution Agreement.

          “General Partner” has the meaning assigned to such term in the first paragraph of this
Agreement.

          “General Partner Units” has the meaning assigned to such term in the Partnership Agreement.

          “GP Closing Quarter Distribution Reduction Amount” means the amount equal to the excess of
(a) the aggregate amount that would be distributable by the Partnership with respect to the
Additional General Partner Units for the calendar quarter in which the Closing Date occurs
if the Closing Date had occurred on the first day of such calendar quarter, over (b) the
aggregate amount actually distributable by the Partnership with respect to the Additional
General Partner Units for the calendar quarter in which the Closing Date occurs.

F-5

 

          “Issuance Proceeds” has the meaning assigned to such term in the recitals.

          “Issue Price” means the volume weighted average closing price of a Common Unit on the NYSE
for the 10-day trading period ending on the third (3rd) business day prior to the Closing
Date.

          “Laws” means any and all laws, statutes, ordinances, rules or regulations promulgated by a
governmental authority, orders of a governmental authority, judicial decisions, decisions of
arbitrators or determinations of any governmental authority or court.

          “Mobile Bay” has the meaning assigned to such term in the recitals.

          “New Credit Facility” means the $1.5 billion underwritten Credit Agreement to be entered
into by the Partnership on or prior to the Closing and any successor facility thereto.

          “NWP” has the meaning assigned to such term in the recitals.

          “Operating Company” has the meaning assigned to such term in the first paragraph of
this Agreement.

          “Pacific Connector LLC” has the meaning assigned to such term in the recitals.

          “Pacific Connector LP” has the meaning assigned to such term in the recitals.

          “Partnership” has the meaning assigned to such term in the first paragraph of this
Agreement.

          “Partnership Agreement” means the Amended and Restated Agreement of Limited Partnership,
dated as of August 23, 2005, of the Partnership, as amended from time to time.

          “Partnership Bank Account” has the meaning assigned to such term in the recitals.

          “Party” and “Parties” have the meanings assigned to such terms in the first paragraph of
this Agreement.

          “Private Equity Placement” has the meaning assigned to such term in the recitals.

          “Solutions” has the meaning assigned to such term in the recitals.

          “TWC” has the meaning assigned to such term in the recitals.

          “WES” has the meaning assigned to such term in the first paragraph of this Agreement.

          “WGP” has the meaning assigned to such term in the first paragraph of this Agreement.

F-6

 

          “WGPGPC” has the meaning assigned to such term in the first paragraph of this Agreement.

          “Williams Pacific Connector” has the meaning assigned to such term in the recitals.

ARTICLE II

CONCURRENT TRANSACTIONS

     2.1 Contribution by the Contributing Parties of the Contributed Interests to the Partnership.
The Contributing Parties hereby grant, contribute, transfer, assign and convey to the Partnership,
its successors and assigns, for its and their own use forever, the Contributed Interests, and the
Partnership hereby accepts the Contributed Interests. Notwithstanding any provision in the
Delaware Limited Liability Company Act or the Delaware Revised Uniform Limited Partnership Act or
the limited liability company agreement or limited partnership agreement of each Contributed
Company, each Contributing Party shall remain a member or partner of each applicable Contributed
Company until such Contributing Party ceases to be a member or partner thereof pursuant to Section
2.5.

     TO HAVE AND TO HOLD the Contributed Interests unto the Partnership, its successors and
assigns, together with all and singular the rights and appurtenances thereto in anywise belonging,
subject, however, to the terms and conditions stated in this Agreement and the Contribution
Agreement, forever.

     2.2 Distribution of the Cash and Equity Consideration. The Parties acknowledge that the
Partnership has paid to the Contributing Parties the Cash Consideration and has issued to the
Contributing Parties the Equity Consideration. The Cash Consideration has been paid from the
Issuance Proceeds and the Debt Proceeds. The Contributing Parties hereby acknowledge receipt of
the Cash Consideration and the Equity Consideration.

     2.3 Increase in Capital Account of the General Partner. The Parties acknowledge that the
capital account of the General Partner has been increased by an amount equal to the amount of the
Additional GP Interest in consideration for a contribution to the Partnership on behalf of the
General Partner of a portion of the Contributed Interests corresponding to the number of General
Partner Units described in Section 2.4.

     2.4 Issuance of General Partner Units. The Parties acknowledge that the Partnership has
issued 4,142,857 General Partner Units (which number of Units is equal to 2/98ths of the number of
Class C Units issued in the Private Equity Placement) to the General Partner (the “Additional
General Partner Units”). The General Partner acknowledges the receipt of the Additional General
Partner Units.

     2.5 Contribution by the Partnership of the Contributed Interests to the Operating Company.
Immediately following the contribution of the Contributed Interests to the Partnership pursuant to
Section 2.1, the Partnership hereby grants, contributes, transfers, assigns and conveys to the
Operating Company, its successors and assigns, for its and their own use forever, the Contributed
Interests, and the Operating Company hereby accepts the Contributed Interests from the Partnership
as a contribution by the Partnership to the capital of

F-7

 

the Operating Company. The Operating
Company hereby agrees that it is bound by the limited liability company agreement or limited
partnership agreement of each Contributed Company. Notwithstanding any provision in the limited
liability company agreement or limited partnership
agreement of each Contributed Company, the Operating Company is hereby admitted as a member or
partner of each Contributed Company simultaneously with its receipt of the Contributed Interests.
Immediately thereafter, each Contributing Party shall cease to be a member or partner of each
Contributed Company, as applicable. The Parties agree that the Operating Company’s admission as a
member or partner of each Contributed Company shall not dissolve the Contributed Companies and each
Contributed Company shall continue without dissolution.

     TO HAVE AND TO HOLD the Contributed Interests unto the Operating Company, its successors and
assigns, together with all and singular the rights and appurtenances thereto in anywise belonging,
subject, however, to the terms and conditions stated in this Agreement, forever.

ARTICLE III

FURTHER ASSURANCES

     3.1 Further Assurances. From time to time after the date hereof, and without any further
consideration, the Parties agree to execute, acknowledge and deliver all such additional deeds,
assignments, bills of sale, conveyances, instruments, notices, releases, acquittances and other
documents, and will do all such other acts and things, all in accordance with applicable law, as
may be necessary or appropriate (a) more fully to assure that the applicable Parties own all of the
properties, rights, titles, interests, estates, remedies, powers and privileges granted by this
Agreement, or which are intended to be so granted and (b) more fully and effectively to vest in the
applicable Parties and their respective successors and assigns beneficial and record title to the
interests contributed and assigned by this Agreement or intended so to be.

     3.2 Other Assurances. From time to time after the date hereof, and without any further
consideration, each of the Parties shall execute, acknowledge and deliver all such additional
instruments, notices and other documents, and will do all such other acts and things, all in
accordance with applicable law, as may be necessary or appropriate to more fully and effectively
carry out the purposes and intent of this Agreement. It is the express intent of the Parties that
the Operating Company own the Contributed Interests that are identified in this Agreement, that the
Operating Company is admitted as a member or partner of each Contributed Company, that each
Contributing Party ceases to be a member or partner of each applicable Contributed Company and that
the contributions contemplated hereby do not cause the dissolution of any Contributed Company.

ARTICLE IV

MISCELLANEOUS

     4.1 Costs. The Operating Company shall pay all sales, use and similar taxes arising out of
the contributions, conveyances and deliveries to be made hereunder, and shall pay all documentary,
filing, recording, transfer, deed and conveyance taxes and fees required in connection therewith.

F-8

 

     4.2 Headings; References; Interpretation. All Article and Section headings in this Agreement
are for convenience only and shall not be deemed to control or affect the meaning or
construction of any of the provisions hereof. The words “hereof,” “herein” and “hereunder”
and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole
and not to any particular provision of this Agreement. All references herein to Articles, Sections
and Schedules shall, unless the context requires a different construction, be deemed to be
references to the Articles and Sections of, and Schedules to, this Agreement, respectively. All
personal pronouns used in this Agreement, whether used in the masculine, feminine or neuter gender,
shall include all other genders, and the singular shall include the plural and vice versa. The use
herein of the word “including” following any general statement, term or matter shall not be
construed to limit such statement, term or matter to the specific items or matters set forth
immediately following such word or to similar items or matters, whether or not non-limiting
language (such as “without limitation,” “but not limited to,” or words of similar import) is used
with reference thereto, but rather shall be deemed to refer to all other items or matters that
could reasonably fall within the broadest possible scope of such general statement, term or matter.

     4.3 Successors and Assigns. The Agreement shall be binding upon and inure to the benefit of
the parties signatory hereto and their respective successors and assigns.

     4.4 No Third Party Rights. The provisions of this Agreement are intended to bind the parties
signatory hereto as to each other and are not intended to and do not create rights in any other
person or entity or confer upon any other person or entity any benefits, rights or remedies and no
person or entity is or is intended to be a third party beneficiary of any of the provisions of this
Agreement.

     4.5 Counterparts. This Agreement may be executed in any number of counterparts, all of which
together shall constitute one agreement binding on the parties hereto.

     4.6 Governing Law. This Agreement shall be governed by, and construed in accordance with, the
Laws of the State of New York applicable to contracts made and to be performed wholly within such
state without giving effect to conflict of law principles thereof, except to the extent that it is
mandatory that the Law of some other jurisdiction shall apply.

     4.7 Assignment of Agreement. Neither this Agreement nor any of the rights or obligations
hereunder may be assigned by any Party without the prior written consent of each of the Parties.
Except as provided herein, nothing in this Agreement is intended to or shall confer upon any person
or entity other than the Parties, and their respective successors and permitted assigns, any
rights, benefits, or remedies of any nature whatsoever under or by reason of this Agreement.

     4.8 Amendment or Modification. This Agreement may be amended or modified from time to time
only by the written agreement of all the Parties hereto and affected thereby.

     4.9 Director and Officer Liability. Except to the extent that they are a party hereto, the
directors, managers, officers, partners, members and securityholders of the Parties and their
respective Affiliates shall not have any personal liability or obligation arising under this
Agreement (including any claims that another party may assert).

F-9

 

     4.10 Severability. If any term or other provision of this Agreement is invalid, illegal, or
incapable of being enforced under applicable Law or public policy, all other conditions and
provisions of this Agreement shall nevertheless remain in full force and effect so long as the
economic or legal substance of the transactions contemplated herein are not affected in any manner
adverse to any Party. Upon such determination that any term or other provision of this Agreement
is invalid, illegal, or incapable of being enforced, the Parties shall negotiate in good faith to
modify this Agreement so as to effect the original intent of the Parties as closely as possible in
a mutually acceptable manner in order that the transactions contemplated herein are consummated as
originally contemplated to the fullest extent possible.

     4.11 Integration. This Agreement, the Contribution Agreement and the instruments referenced
herein supersede any and all previous understandings or agreements among the Parties, whether oral
or written, with respect to their subject matter. This Agreement, the Contribution Agreement and
such instruments contain the entire understanding of the Parties with respect to the subject matter
hereof and thereof. No understanding, representation, promise or agreement, whether oral or
written, is intended to be or shall be included in or form part of this Agreement, the Contribution
Agreement or any such instrument unless it is contained in a written amendment hereto or thereto
and executed by the Parties hereto or thereto after the date of this Agreement or such instrument.

     4.12 Effect of Amendment. The Parties ratify and confirm that except as otherwise expressly
provided herein, in the event this Agreement conflicts in any way with any instrument of conveyance
covering the Contributed Interests (other than the Contribution Agreement), the terms and
provisions of this Agreement shall control.

     4.13 Order. The matters provided for in Section 2.1 shall be completed prior to the matters
provided for in Section 2.5.

* * * * *

F-10

 

     IN WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto on the date
first above written.

	 	 	 	 	 	 	 
	 	 	WILLIAMS GAS PIPELINE COMPANY, LLC
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

Phillip D. Wright
	 	 
	 

	 	Title:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	WILLIAMS ENERGY SERVICES, LLC
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

Alan S. Armstrong
	 	 
	 

	 	Title:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	WGP GULFSTREAM PIPELINE COMPANY, L.L.C.
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

Phillip D. Wright
	 	 
	 

	 	Title:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	WILLIAMS PARTNERS GP LLC
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

Donald R. Chappel
	 	 
	 

	 	Title:
	 	Chief Financial Officer	 	 

Signature Page to Conveyance, Contribution and Assumption Agreement

 

 

	 	 	 	 	 	 	 
	 	 	WILLIAMS PARTNERS L.P.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Williams Partners GP LLC, its general partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

Donald R. Chappel
	 	 
	 

	 	Title:
	 	Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	WILLIAMS PARTNERS OPERATING LLC
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Williams Partners L.P., its managing member	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Williams Partners GP LLC, its general partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Donald R. Chappel	 	 
	 

	 	Title:
	 	Chief Financial Officer	 	 

Signature Page to Conveyance, Contribution and Assumption Agreement

 

 

EXHIBIT G

FORM OF LIMITED CALL RIGHT FORBEARANCE AGREEMENT

(Please see attached.)

 

 

LIMITED CALL RIGHT FORBEARANCE AGREEMENT

     This Limited Call Right Forbearance Agreement (this “Agreement”) is made and
entered into as of February ___, 2010 by and between Williams Partners L.P., a Delaware limited
partnership (the “Partnership”), and Williams Partners GP LLC, a Delaware limited liability
company and the general partner of the Partnership (the “General Partner”).

RECITALS

     A. The Amended and Restated Agreement of Limited Partnership of the Partnership, dated as of
August 23, 2005, as amended (the “Partnership Agreement”), has been entered into and
effectuated by the General Partner pursuant to the authority granted to it in Article XIII of the
Partnership Agreement. Capitalized terms used, but not defined herein, shall have the meanings
ascribed thereto in the Partnership Agreement.

     B. Under Section 15.1 of the Partnership Agreement, if at any time the General Partner and its
Affiliates hold more than 80% of the total Limited Partner Interests of any class then Outstanding,
the General Partner shall then have the right (the “Limited Call Right”), which right it
may assign and transfer in whole or in part to the Partnership or any Affiliate of the General
Partner, exercisable at its option, to purchase all, but not less than all, of such Limited Partner
Interests of such class then Outstanding held by Persons other than the General Partner and its
Affiliates at a price and on the terms specified in such Section 15.1.

     C. On the date hereof, pursuant to a Contribution Agreement by and among Williams Gas Pipeline
Company, LLC, a Delaware limited liability company, Williams Energy Services, LLC, a Delaware
limited liability company, WGP Gulfstream Pipeline Company, L.L.C., a Delaware limited liability
company, the General Partner, the Partnership, Williams Partners Operating LLC, a Delaware limited
liability company, and, for a limited purpose, The Williams Companies, Inc., a Delaware
corporation, dated as of January 15, 2010 (the “Contribution Agreement”), the Partnership
is issuing 203,000,000 Class C units representing limited partner interests in the Partnership
(“Class C Units”), which are convertible pursuant to their terms into Common Units, to the
General Partner and its Affiliates as partial consideration for the contribution by the General
Partner and its Affiliates of certain assets (the “Contribution”).

     D. Immediately after the Contribution, the General Partner and its Affiliates will own
approximately [___]% of the Common Units (assuming the full conversion of Class C Units held by the
General Partner and its Affiliates) and, upon the full conversion of the Class C Units into Common
Units, may thereafter be entitled under the Partnership Agreement to exercise the Limited Call
Right with respect to the Common Units.

     E. The parties desire that the General Partner will agree to forbear exercising the Limited
Call Right in certain circumstances.

AGREEMENT

For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties agree as follows:

G-1

 

1. Forbearance of Exercise of Limited Call Right

The General Partner agrees not to exercise or permit to be exercised the Limited Call Right with
respect to the Common Units unless the General Partner and its Affiliates hold more than 85% of the
Common Units then Outstanding. The Partnership is relying on the forbearance of the exercise of
the Limited Call Right as part of the consideration for the transactions contemplated by the
Contribution Agreement.

2. Termination of Forbearance

The General Partner’s agreement in Section 1 hereof and the remainder of this Agreement shall
terminate at such time as the General Partner and its Affiliates collectively hold less than 75% of
the Common Units then Outstanding (assuming the full conversion of Class C Units held by the
General Partner and its Affiliates), in which event the Limited Call Right will be exercisable in
accordance with the Partnership Agreement.

3. Specific Performance

The parties have agreed that irreparable damage would occur in the event that any provisions of
this Agreement were not performed in accordance with their specific terms or were otherwise
breached. Accordingly, prior to termination of this Agreement in accordance with its terms, to the
fullest extent permitted by law, the parties will be entitled to an injunction or injunctions to
prevent breaches of this Agreement and to enforce specifically the terms and provisions of this
Agreement in addition to any other remedy to which the parties are entitled at law or in equity. In
connection with any request for specific performance or equitable relief by any party, each of the
other parties agrees to waive any requirement for the security or posting of any bond in connection
with the remedy of specific performance or equitable relief. Any actions for specific performance
or equitable relief must be brought in the Delaware Chancery Court or the federal courts within the
State of Delaware.

4. Notices

Notices under this Agreement shall be provided in writing and shall be deemed received if sent to
the address or fax number specified below: (i) on the day received if sent by courier delivery,
(ii) on the next Business Day if sent by facsimile transmission when sender has machine
confirmation that the notice was transmitted, or (iii) three (3) Business Days after mailing if
sent by certified or registered mail.

	 	 	 
	To the General Partner:

	 	To the Partnership:
	 
	 	 
	Williams Partners GP LLC

	 	Williams Partners L.P.
	One Williams Center

	 	One Williams Center
	Tulsa, Oklahoma 74172

	 	Tulsa, Oklahoma 74172
	Attention: General Counsel

	 	Attention : Chief Financial Officer
	Telecopy: (918) 573-5942

	 	Telecopy: (918) 573-0871
	 
	 	 
	 

	 	with a copy to:
	 
	 	 
	 

	 	Williams Partners L.P.
	 

	 	One Williams Center, Suite 4900
	 

	 	Tulsa, Oklahoma 74172-0172

G-2

 

	 	 	 
	 

	 	Attention: General Counsel and Conflicts 

               
  Committee Chair
	 

	 	Telecopy: (918) 573-5942

The General Partner and/or the Partnership may change its address for notices by providing notice
to the other in accordance with this Section 4.

5. Entire Agreement

There are no representations, conditions, agreements or understandings with respect to this
Agreement other than as set forth or referred to in this Agreement. No provision of this Agreement
may be amended or waived except by a written instrument executed by the General Partner and
Partnership. Notwithstanding anything else herein set forth, this Agreement constitutes the entire
agreement between the Partnership and the General Partner with respect to the subject matter hereof
and cancels and supersedes any prior guarantees, agreements and understandings between such parties
with respect thereto.

6. Successors and Assigns

This Agreement shall inure to the benefit of and be binding upon the respective successors and
permitted assigns of the General Partner and the Partnership. This Agreement shall not be assigned
or otherwise transferred, in whole or in part, without the prior written consent of the
non-assigning party.

7. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of
Delaware, without regard to the principles of conflicts of law.

8. Action by Partnership

With respect to any action, notice, consent, approval or waiver that is required to be taken or
given or that may be taken or given by the Partnership pursuant to this Agreement, such action,
notice, consent, approval or waiver shall be taken or given by the Conflicts Committee on behalf of
the Partnership.

9. Severability

If any provision of this Agreement or the application thereof to any person, entity 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, entities or circumstances shall not be affected
thereby and shall be enforced to the greatest extent permitted by law.

10. Counterparts

This Agreement may be executed in counterparts, each of which shall be deemed an original, but both
of which together shall constitute one and the same instrument.

* * * * *

G-3

 

     EXECUTED as of the date first above written.

	 	 	 	 	 	 	 
	 	 	WILLIAMS PARTNERS GP LLC
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

Donald R. Chappel
	 	 
	 

	 	Title:
	 	Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	WILLIAMS PARTNERS L.P.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Williams Partners GP LLC,

its general partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

Donald R. Chappel
	 	 
	 

	 	Title:
	 	Chief Financial Officer	 	 

Signature Page to the Limited Call Right Forbearance Agreement

 

 

EXHIBIT H

FORM OF OMNIBUS AGREEMENT

(Please see attached.)

 

 

OMNIBUS AGREEMENT

     This Omnibus Agreement (the “Agreement”) is made and entered into as of February ___, 2010, by
and between The Williams Companies, Inc., a Delaware corporation (“Williams”), and Williams
Partners L.P., a Delaware limited partnership (the “Partnership”). The above-named entities are
sometimes referred to in this Agreement each as a “Party” and collectively as the “Parties.”

W I T N E S S E T H:

     WHEREAS, the Parties desire by their execution of this Agreement to evidence their
understanding, (i) as more fully set forth in Articles II, III and IV of
this Agreement, with respect to certain indemnification, reimbursement and payment obligations of
Williams to the Partnership, and (ii) as more fully set forth in Article V of this
Agreement, with respect to payments to be made by the Partnership to Williams in respect of sales
of natural gas recovered from the Hester Storage Field.

A G R E E M E N T:

     NOW, THEREFORE, 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

     Section 1.1 Definitions. The respective terms defined in this Section 1.1 shall, when used in this Agreement,
have the respective meanings specified herein, with each such definition equally applicable to both
singular and plural forms of the terms so defined.

“Aggregate Devils Tower Payments” has the meaning ascribed to such term in Section 4.1.

“Agreement” has the meaning ascribed to such term in the preamble.

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

“Devils Tower Ceiling Amount” has the meaning ascribed to such term in Section 4.1.

“Hurricane Repairs Amount” has the meaning ascribed to such term in Section 2.1.

“Partnership” has the meaning ascribed to such term in the preamble.

“Partnership Agreement” means the Amended and Restated Agreement of Limited Partnership of the
Partnership, dated August 23, 2005, as amended from time to time.

“Party” and “Parties” have the meanings ascribed to such terms in the preamble.

“Quarterly Devils Tower Amount” has the meaning ascribed to such term in Section 4.1.

H-1

 

“Quarterly DOT Amount” has the meaning ascribed to such term in Section 3.1.

“Quarterly Hester Gas Amount” has the meaning ascribed to such term in Section 5.1.

“Williams” has the meaning ascribed to such term in the preamble.

     Section 1.2 Construction. In constructing this Agreement: (a) the currency amounts referred to herein, unless otherwise
specified, are in United States dollars; (b) whenever this Agreement refers to a number of days,
such number shall refer to calendar days unless business days are specified; (c) unless otherwise
specified, all references in this Agreement to “Article,” “Section,” “Exhibit,” “preamble” or
“recitals” shall be references to an Article, Section, Exhibit, preamble or recitals hereto; and
(e) whenever the context requires, the words used in this Agreement shall include the masculine,
feminine and neuter and singular and the plural.

ARTICLE II

Indemnification for hurricane ike repairs

     Section 2.1 General. Williams shall indemnify, defend and hold harmless the
Partnership from and against all amounts incurred by the Partnership or any of its subsidiaries for
repair or abandonment costs after the date of this Agreement in excess of insurance proceeds
realized for damages to the facilities as identified in Exhibit A caused by Hurricane Ike (such net
amount, the “Hurricane Repairs Amount”), up to a maximum of $10,000,000 (the “Hurricane Repairs
Ceiling Amount”). The Partnership shall, or shall cause its subsidiaries to, use commercially
reasonable efforts to realize any applicable insurance proceeds. No gross-up or other increase in
any indemnification shall be provided by Williams with respect to any federal, state or local tax
liability that may be owed by Partnership or any affiliate of the Partnership with respect to any
payment made under this Article II.

     Section 2.2 Preparation and Delivery of Statement. Promptly following the
Partnership’s determination that the Partnership and its subsidiaries have completed all of the
repairs that they intend to undertake and the receipt by the Partnership or any of its subsidiaries
of all associated insurance proceeds, the Partnership shall prepare and deliver to Williams a
statement setting forth the Hurricane Repairs Amount and, in reasonable detail, the components
thereof.

ARTICLE III

INDEMNIFICATION FOR DOT PROJECTS

     Section 3.1 General. Williams shall indemnify, defend and hold harmless the
Partnership from and against all maintenance capital expenditure amounts incurred by the
Partnership or its subsidiaries within 24 months of the date of this Agreement in respect of the
Department of Transportation projects described in Exhibit B attached hereto (such amount, in
respect of any particular calendar quarter, the “Quarterly DOT Amount”), up to a maximum aggregate
amount of $50,000,000 (the “DOT Ceiling Amount”). No gross-up or other increase in any
indemnification shall be provided by Williams with respect to any federal, state or local tax
liability that may be owed by the Partnership or any affiliate of the Partnership with respect to
any payment made under this Article III.

H-2

 

     Section 3.2 Preparation and Delivery of Statement. Promptly following the end of each full or partial calendar quarter within the
24-month period referenced in Section 3.1, the Partnership shall prepare and deliver to
Williams a statement setting forth the Quarterly DOT Amount for such calendar quarter and, in
reasonable detail, the components thereof.

ARTICLE IV

DEVILS TOWER

     Section 4.1 General. At 12:01 a.m., Tulsa, Oklahoma time, on the first day of the
calendar month in which this Agreement is executed, Williams had a deferred revenue balance
recorded in account numbers 4123.00042563.0.0.2210.0.0.0 and 4123.00042563.0.0.2740.0.0.0 of its
general ledger reflecting certain cash payments previously received by it for services to be
rendered in future periods at its Devils Tower floating production platform located in Mississippi
Canyon Block 773 (the amount of such deferred revenue balance, the “Devils Tower Ceiling Amount”).
Williams shall pay to the Partnership, with respect to each calendar quarter ending after the date
of this Agreement, the amount, if any, by which such deferred revenue balance at the end of such
quarter is less than the difference between the (a) the Devils Tower Ceiling Amount and (b) the
Aggregate Devils Tower Payments (such amount, in respect of any particular calendar quarter, the
“Quarterly Devils Tower Amount”). For purposes of the above calculation in any particular calendar
quarter, the “Aggregate Devils Tower Payments” is the aggregate amount of all Quarterly Devils
Tower Amounts for previous quarters.

     Section 4.2 Preparation and Delivery of Statement. Within 45 days of the end of each calendar quarter ending after the date of this Agreement and
continuing until the Aggregate Devils Tower Payments equal the Devils Tower Ceiling Amount, the
Partnership shall prepare and deliver to Williams a statement of the Quarterly Devils Tower Amount,
setting forth in reasonable detail the components thereof.

ARTICLE V

HESTER STORAGE GAS

     Section 5.1 General. The Partnership shall pay to Williams, with respect to each calendar quarter ending after the
date of this Agreement, an amount equal to (a) the amount of proceeds received by the Partnership
or any of its subsidiaries during such calendar quarter in respect of sales occurring after the
date of this Agreement of natural gas recovered from the Hester Storage Field pursuant to the order
of the Federal Energy Regulatory Commission dated March 7, 2008 approving a settlement agreement in
Docket No. RP06-569, minus (b) the sum of (i) federal, state and local income taxes calculated to
have been incurred with respect to such sale proceeds and (ii) the amount of payments required to
be made to customers pursuant to such settlement agreement (such net amount, in respect of any
particular calendar quarter, the “Quarterly Hester Gas Amount”).

     Section 5.2 Preparation and Delivery of Statement. Within 45 days of the end of each calendar quarter ending after the date of this Agreement,
the Partnership shall prepare and deliver to Williams a statement of the Quarterly Hester Gas
Amount, setting forth in reasonable detail the components thereof.

H-3

 

ARTICLE VI

DISPUTE RESOLUTION; PAYMENT

     Section 6.1 General. Within 15 days following receipt by Williams of a statement
described in Section 2.2, 3.2, 4.2 or 5.2, Williams shall deliver
notice to the Partnership of any dispute it has with respect to the preparation or content of such
statement. In the event Williams does not notify the Partnership of a dispute with respect to such
statement within such 15-day period, such statement will be final, conclusive and binding on the
parties hereto. In the event of such notification of a dispute, Williams and the Partnership shall
negotiate in good faith to resolve such dispute. If Williams and the Partnership, notwithstanding
such good faith effort, fail to resolve such dispute within 30 days after Williams advises the
Partnership of its objections, then such dispute shall be submitted to binding arbitration in
Tulsa, Oklahoma in accordance with the rules of the American Arbitration Association. All
decisions rendered in connection with an arbitration pursuant to this Section 6.1 shall be
final, conclusive and binding on the parties hereto. Williams and the Partnership shall share
equally the fees and expenses of the arbitrator and the costs of arbitration. Each party shall
otherwise pay its own costs and attorneys’ fees. Following the final decision of the arbitrator,
the arbitrator shall, within 2 business days from the date of such final decision, deliver a
written notice to Williams and the Partnership specifying the Hurricane Repairs Amount, the
Quarterly DOT Amount, the Quarterly Devils Tower Amount or the Quarterly Hester Gas Amount, as
applicable.

     Section 6.2 Cooperation. For purposes of complying with the terms set forth in this
Article V, the Partnership and Williams shall cooperate with and make available to the
other parties hereto and their representatives all information, records, data and working papers,
and will permit access to their facilities and personnel, as may be reasonably required in
connection with the preparation and analysis of a statement described in Section 2.2,
3.2, 4.2 or 5.2 and the resolution of any disputes thereunder.

     Section 6.3 Payment. Within 5 business days from the date on which the Hurricane
Repairs Amount, the Quarterly DOT Amount, the Quarterly Devils Tower Amount or the Quarterly Hester
Gas Amount, as applicable, is finally determined pursuant to Section 6.1, (a) Williams
shall pay to the Partnership the Hurricane Repairs Amount (subject to the Hurricane Repairs Ceiling
Amount), the Quarterly DOT Amount (subject to the DOT Ceiling Amount and taking into account all
prior payments of the Quarterly DOT Amount) or the Quarterly Devils Tower Amount (subject to the
Devils Tower Ceiling Amount and taking into account all prior payments of the Quarterly Devils
Tower Amount), as applicable, by wire or interbank transfer of immediately available funds to an
account specified in writing by the Partnership or (b) the Partnership shall pay to Williams the
Quarterly Hester Gas Amount, as applicable, by wire or interbank transfer of immediately available
funds to an account specified in writing by Williams.

ARTICLE VII

MISCELLANEOUS

     Section 7.1 Notices. Any notice, instruction, correspondence or other document to be
given hereunder by either Party to the other shall be in writing and delivered in person or by
courier service requiring acknowledgment of receipt of delivery or by telecopier, as follows:

H-4

 

If to Williams, addressed to:

The Williams Companies, Inc.

One Williams Center

Tulsa, Oklahoma 74172-0172

Attention: General Counsel

Phone: (918) 573-2000

Fax: (918) 573-5942

If to the Partnership, addressed to:

Williams Partners L.P.

One Williams Center

Tulsa, Oklahoma 74172-0172

Attention: Chief Financial Officer

Phone: (918) 573-2000

Fax: (918) 573-5942

     Section 7.2 Governing Law. This Agreement shall be governed and construed in
accordance with the substantive laws of the State of New York without reference to principles of
conflicts of laws. Each Party hereby submits to the jurisdiction of the state and federal courts
in the State of Texas and to venue in Texas.

     Section 7.3 Entire Agreement; Amendments and Waivers. This Agreement constitutes the
entire agreement between the Parties with respect to the subject matter hereof and supersedes all
prior agreements and understandings, both written and oral, between the Parties with respect to the
subject matter hereof. No supplement, modification or waiver of this Agreement shall be binding
unless executed in writing by each Party to be bound thereby. No waiver of any of the provisions
of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof
(regardless of whether similar), nor shall any waiver constitute a continuing waiver unless
otherwise expressly provided.

     Section 7.4 Binding Effect and Assignment. This Agreement shall be binding upon and
inure to the benefit of the Parties and their respective permitted successors and assigns, but
neither this Agreement nor any of the rights, benefits or obligations hereunder shall be assigned
or transferred, by operation of law or otherwise, by either Party without the prior written consent
of the other Party. Nothing in this Agreement, express or implied is intended to confer upon any
person or entity other than the Parties and their respective permitted successors and assigns, any
rights, benefits or obligations hereunder.

     Section 7.5 Severability. If any provision of this Agreement or the application
thereof to any person, entity 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, entities or
circumstances shall not be affected thereby and shall be enforced to the greatest extent permitted
by law.

H-5

 

     Section 7.6 Multiple Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument.

     Section 7.7 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.

     Section 7.8 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 either Party.

     Section 7.9 Action by Partnership. With respect to any action, notice, consent,
approval or waiver that is required to be taken or given or that may be taken or given by the
Partnership pursuant to this Agreement, such action, notice, consent, approval or waiver shall be
taken or given by the Conflicts Committee on behalf of the Partnership.

*    *    *    *    *

H-6

 

     IN WITNESS WHEREOF, the Parties have executed this Agreement on and effective as of the date
first written above.

	 	 	 	 	 
	 	THE WILLIAMS COMPANIES, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	Donald R. Chappel 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	WILLIAMS PARTNERS L.P.

 	 
	 	By:  	WILLIAMS PARTNERS GP LLC,
 	 
	 	 	its general partner 	 

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	Donald R. Chappel 	 
	 	 	Title:  	Chief Financial Officer 	 
	 

Signature Page to Omnibus Agreement

 

 

EXHIBIT A

List of Hurricane Ike Budget System Funding Projects

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	COUNT	 	Mitigation	 	 	 	 	 	 	 	 	 	 	 	 	 	Height of Span	 	 	 	 	 	 	 	 	 	 	 	 
	Exposure	 	Exposure	 	 	 	Line Size	 	Approximate	 	 	 	Above Seafloor	 	Number of Mats	 	Exposure	 	 	 	 	 	 	 	Completed/
	Number	 	Number	 	Area/Bock	 	(Inches)	 	Water Depth	 	Exposure Type	 	(If Applicable)	 	Required	 	Length (Feet)	 	 	 	Comments	 	Action?	 	Contractor
	CAPITAL EXPOSURES TO BE MITIGATED IN 2010	 	 	 	 	 	 	 	 	 	 
	 	1	 	 	1	 	EI-129A	 	 	6	 	 	 	-57’	 	 	1 - Exposed	 	N/A	 	 	5	 	 	 	52	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	2	 	 	2	 	EI-129A	 	 	6	 	 	 	-57’	 	 	1 - Exposed	 	N/A	 	 	3	 	 	 	17	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	3	 	 	3	 	EI-129A	 	 	6	 	 	 	-57’	 	 	1 - Exposed	 	N/A	 	 	8	 	 	 	118	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	4	 	 	4	 	EI-129A	 	 	6	 	 	 	-57’	 	 	1 - Exposed	 	N/A	 	 	56	 	 	 	1079	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	5	 	 	6	 	EI-129	 	 	14	 	 	 	-56’	 	 	1 - Exposed	 	N/A	 	 	7	 	 	 	90	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	6	 	 	8	 	SS-135	 	 	10	 	 	 	-52’	 	 	1 - Exposed	 	N/A	 	 	4	 	 	 	28	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	7	 	 	9	 	SS-145	 	 	10	 	 	 	-49’	 	 	1 - Exposed	 	N/A	 	 	4	 	 	 	30	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	8	 	 	10	 	SS-209	 	 	12	 	 	 	-110’	 	 	1 - Exposed	 	N/A	 	 	14	 	 	 	239	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	9	 	 	17	 	SS-214	 	 	12	 	 	 	-120’	 	 	3 - Uncovered	 	N/A	 	 	18	 	 	 	303	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	10	 	 	18	 	SS-214	 	 	12	 	 	 	-121’	 	 	1 - Exposed	 	N/A	 	 	4	 	 	 	25	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	11	 	 	19	 	SS-214	 	 	12	 	 	 	-121’	 	 	1 - Exposed	 	N/A	 	 	5	 	 	 	58	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	12	 	 	21	 	SS-253	 	 	10	 	 	 	-187’	 	 	1 - Exposed	 	N/A	 	 	19	 	 	 	332	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	13	 	 	22	 	SM-22	 	 	16	 	 	 	-81’	 	 	1 - Exposed	 	N/A	 	 	7	 	 	 	38	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	14	 	 	23	 	EI-136	 	 	16	 	 	 	-69’	 	 	1 - Exposed	 	N/A	 	 	11	 	 	 	70	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	15	 	 	24	 	EI-136	 	 	16	 	 	 	-68’	 	 	1 - Exposed	 	N/A	 	 	15	 	 	 	104	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	16	 	 	25	 	EI-131	 	 	16	 	 	 	-68’	 	 	1 - Exposed	 	N/A	 	 	13	 	 	 	86	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	17	 	 	26	 	EI-130	 	 	16	 	 	 	-64’	 	 	1 - Exposed	 	N/A	 	 	15	 	 	 	104	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	18	 	 	27	 	EI-130	 	 	16	 	 	 	-61’	 	 	1 - Exposed	 	N/A	 	 	8	 	 	 	45	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	19	 	 	28	 	EI-130	 	 	16	 	 	 	-61’	 	 	1 - Exposed	 	N/A	 	 	11	 	 	 	65	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 

Exhibit A-1

(to Omnibus Agreement)

 

EXHIBIT
A

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	COUNT	 	Mitigation	 	 	 	 	 	 	 	 	 	 	 	 	 	Height of Span	 	 	 	 	 	 	 	 	 	 	 	 
	Exposure	 	Exposure	 	 	 	Line Size	 	Approximate	 	 	 	Above Seafloor	 	Number of Mats	 	Exposure	 	 	 	 	 	 	 	Completed/
	Number	 	Number	 	Area/Bock	 	(Inches)	 	Water Depth	 	Exposure Type	 	(If Applicable)	 	Required	 	Length (Feet)	 	 	 	Comments	 	Action?	 	Contractor
	 	20	 	 	31	 	SM-35	 	 	16	 	 	 	-91’	 	 	1 - Exposed	 	N/A	 	 	3	 	 	 	8	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	21	 	 	32	 	SM-34	 	 	16	 	 	 	-88’	 	 	1 - Exposed	 	N/A	 	 	3	 	 	 	7	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	22	 	 	50	 	SS-113	 	 	6	 	 	(-38.5ft)	 	1 - Exposed	 	 	 	 	74	 	 	 	1435.43	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	23	 	 	51	 	SS-113	 	 	6	 	 	(-46ft)	 	1 - Exposed	 	 	 	 	8	 	 	 	106.89	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	24	 	 	52	 	SS-113	 	 	6	 	 	(-46.5ft)	 	1 - Exposed	 	 	 	 	36	 	 	 	674.05	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	25	 	 	53	 	SS-113	 	 	6	 	 	(-47ft)	 	3 - Uncovered	 	 	 	 	13	 	 	 	200.6	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	26	 	 	54	 	SS-113	 	 	6	 	 	(-47ft)	 	1 - Exposed	 	 	 	 	60	 	 	 	1141.85	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	27	 	 	55	 	SS-113	 	 	6	 	 	(-46.7ft)	 	1 - Exposed	 	 	 	 	4	 	 	 	25.81	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	28	 	 	56	 	SS-114	 	 	6	 	 	(-40.7ft)	 	1 - Exposed	 	 	 	 	100	 	 	 	1948.86	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	29	 	 	57	 	SS-114	 	 	6	 	 	(-43ft)	 	1 - Exposed	 	 	 	 	7	 	 	 	99.25	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	30	 	 	59	 	EI-117	 	 	16	 	 	(-47.4ft)	 	1 - Exposed	 	 	 	 	8	 	 	 	43.1	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	31	 	 	60	 	EI-119	 	 	16	 	 	(-36ft)	 	1 - Exposed	 	 	 	 	14	 	 	 	90.97	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	32	 	 	61	 	EI-119	 	 	16	 	 	(-36ft)	 	1 - Exposed	 	 	 	 	17	 	 	 	115.97	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	33	 	 	62	 	EI-119	 	 	16	 	 	(-35ft)	 	1 - Exposed	 	 	 	 	28	 	 	 	203.06	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	34	 	 	63	 	SS-32	 	 	16	 	 	(-17ft)	 	1 - Exposed	 	 	 	 	9	 	 	 	52.55	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	35	 	 	64	 	SS-32	 	 	16	 	 	(-16ft)	 	1 - Exposed	 	 	 	 	10	 	 	 	57.38	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	36	 	 	68	 	EI-116	 	 	12	 	 	(-42ft)	 	3 - Uncovered	 	 	 	 	11	 	 	 	163.6704005	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	37	 	 	69	 	EI-116	 	 	12	 	 	(-42ft)	 	3 - Uncovered	 	 	 	 	21	 	 	 	373.4661966	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	38	 	 	70	 	EI-116	 	 	12	 	 	(-41ft)	 	3 - Uncovered	 	 	 	 	28	 	 	 	516.313858	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	39	 	 	71	 	EI-117	 	 	12	 	 	(-39ft)	 	3 - Uncovered	 	 	 	 	12	 	 	 	198.0403999	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	40	 	 	72	 	EI-117	 	 	12	 	 	(-38ft)	 	1 - Exposed	 	 	 	 	3	 	 	 	15.55634919	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	41	 	 	73	 	EI-117	 	 	12	 	 	(-38ft)	 	1 - Exposed	 	 	 	 	5	 	 	 	50.32891813	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 

Exhibit A-2

(to Omnibus Agreement)

 

EXHIBIT
A

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	COUNT	 	Mitigation	 	 	 	 	 	 	 	 	 	 	 	 	 	Height of Span	 	 	 	 	 	 	 	 	 	 	 	 
	Exposure	 	Exposure	 	 	 	Line Size	 	Approximate	 	 	 	Above Seafloor	 	Number of Mats	 	Exposure	 	 	 	 	 	 	 	Completed/
	Number	 	Number	 	Area/Bock	 	(Inches)	 	Water Depth	 	Exposure Type	 	(If Applicable)	 	Required	 	Length (Feet)	 	 	 	Comments	 	Action?	 	Contractor
	 	42	 	 	74	 	EI-117	 	 	12	 	 	(-37ft)	 	3 - Uncovered	 	 	 	 	51	 	 	 	976.8029484	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	43	 	 	75	 	EI-108	 	 	12	 	 	(-37ft)	 	1 - Exposed	 	 	 	 	9	 	 	 	133.6450523	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	44	 	 	81	 	VR-76	 	 	16	 	 	(-28ft)	 	1 - Exposed	 	 	 	 	27	 	 	 	194.66	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	45	 	 	83	 	VR-76	 	 	16	 	 	(-27ft)	 	1 - Exposed	 	 	 	 	8	 	 	 	44	 	 	 	 	 	 	Mitigation Still Required
	 	 	 	 
	 	46	 	 	93	 	HI-232	 	 	12	 	 	 	(-53	)	 	3 - Uncovered	 	 	 	 	6	 	 	 	69.32	 	 	 	 	 	 	Mitigation Still Required
	 	S-14128-PROP 
	 	47	 	 	29	 	EI-129A	 	 	16	 	 	 	-57’	 	 	4 - Span	 	3’	 	 	28	 	 	 	207	 	 	 	 	C&C: Spanning verified in SSS. Crossing Pipeline (S-13445 Transco 20") is also exposed. 	 	Proposed Mitigation in ‘09
	 	 	 	 
	 	48	 	 	37	 	EI-129	 	 	24	 	 	 	-56’	 	 	3 - Uncovered	 	N/A	 	 	7	 	 	 	40	 	 	 	 	 	 	Proposed Mitigation in ‘09
	 	 	 	 
	 	49	 	 	38	 	SM-106	 	 	24	 	 	 	-199’	 	 	1 - Exposed	 	N/A	 	 	10	 	 	 	60	 	 	 	 	C&C: Expsoure verified by SSS.	 	Proposed Mitigation in ‘09
	 	 	 	 
	 	50	 	 	39	 	SM-98	 	 	24	 	 	 	-187’	 	 	1 - Exposed	 	N/A	 	 	14	 	 	 	89	 	 	 	 	C&C: Expsoure verified by SSS.	 	Proposed Mitigation in ‘09
	 	 	 	 
	 	51	 	 	40	 	SM-98	 	 	24	 	 	 	-187’	 	 	1 - Exposed	 	N/A	 	 	10	 	 	 	61	 	 	 	 	C&C: Expsoure verified by SSS.	 	Proposed Mitigation in ‘09
	 	 	 	 
	 	52	 	 	41	 	SM-98	 	 	24	 	 	 	-185’	 	 	1 - Exposed	 	N/A	 	 	9	 	 	 	65	 	 	 	 	Mitigation Incomplete. 21 mats placed by DSV Joanne.	 	Proposed Mitigation in ‘09
	 	 	 	 
	 	53	 	 	43	 	SM-76	 	 	24	 	 	 	-153’	 	 	1 - Exposed	 	N/A	 	 	21	 	 	 	147	 	 	 	 	C&C: Exposure verified by SSS.	 	Proposed Mitigation in ‘09
	 	 	 	 
	 	54	 	 	76	 	EI-116	 	 	20	 	 	(-52ft)	 	4 - Span	 	 	 	 	19	 	 	 	128.41	 	 	 	 	C&C: Exposure seen in SSS.	 	Proposed Mitigation in ‘09
	 	 	 	 
	 	55	 	 	84	 	HI-199	 	 	24	 	 	 	(-38	)	 	1 - Exposed	 	 	 	 	46	 	 	 	347	 	 	 	 	C&C: Exposure seen in SSS. Exposure length is 350’.	 	WFS Owned Pipelines (Not Mitigated)
	 	 	 	 
	 	56	 	 	85	 	HI-137	 	 	24	 	 	 	(-48	)	 	3 - Uncovered	 	 	 	 	11	 	 	 	69	 	 	 	 	C&C: Verified with mulibeam, data quality too poor to verify with SSS.	 	WFS Owned Pipelines (Not Mitigated)
	 	 	 	 

Exhibit A-3

(to Omnibus Agreement)

 

EXHIBIT
A

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	COUNT	 	Mitigation	 	 	 	 	 	 	 	 	 	 	 	 	 	Height of Span	 	 	 	 	 	 	 	 	 	 	 	 
	Exposure	 	Exposure	 	 	 	Line Size	 	Approximate	 	 	 	Above Seafloor	 	Number of Mats	 	Exposure	 	 	 	 	 	 	 	Completed/
	Number	 	Number	 	Area/Bock	 	(Inches)	 	Water Depth	 	Exposure Type	 	(If Applicable)	 	Required	 	Length (Feet)	 	 	 	Comments	 	Action?	 	Contractor
	 	57	 	 	86	 	HI-136	 	 	24	 	 	 	(-47	)	 	3 - Uncovered	 	 	 	 	16	 	 	 	108	 	 	 	 	C&C: Exposure seen in SSS.	 	WFS Owned Pipelines (Not Mitigated)
	 	 	 	 
	 	58	 	 	130	 	SM-98	 	 	24	 	 	 	 	 	 	1-Exposed	 	 	 	 	6	 	 	 	31	 	 	 	 	C&C: Exposure seen in SSS. Located approximately 130 feet south of exposure 54 along S-4761 Transco 24"	 	NF Proposed Mitigation ‘09
	 	 	 	 
	 	59	 	 	131	 	SM-76	 	 	24	 	 	 	 	 	 	 	 	 	 	 	4	 	 	 	13	 	 	 	 	C&C: Possible small exposure at tie-in located near "P" Platform along S-4761 Transco 24" There is some debris in the vicinity, so it may just be debris resting in the trench.	 	NF Proposed Mitigation ‘09
	 	 	 	 
	 	60	 	 	132	 	EI-129	 	 	16	 	 	 	 	 	 	1-Exposed	 	 	 	 	12	 	 	 	74	 	 	 	 	C&C: Exposure seen in SSS	 	NF Mitigation Still Required
	 	 	 	 
	 	61	 	 	133	 	EI-129	 	 	20	 	 	 	 	 	 	1-Exposed	 	 	 	 	23	 	 	 	165	 	 	 	 	C&C: Exposure verified in SSS. Looks like the crossing location was covered at one point but the pipeline is still exposed at the tips, about 40 feet on each side.  ******* (Anchor Survey is not complete) *****	 	NF Proposed Mitigation ‘09
	 	 	 	 

Exhibit A-4

(to Omnibus Agreement)

 

EXHIBIT
A

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	COUNT	 	Mitigation	 	 	 	 	 	 	 	 	 	 	 	 	 	Height of Span	 	 	 	 	 	 	 	 	 	 	 	 
	Exposure	 	Exposure	 	 	 	Line Size	 	Approximate	 	 	 	Above Seafloor	 	Number of Mats	 	Exposure	 	 	 	 	 	 	 	Completed/
	Number	 	Number	 	Area/Bock	 	(Inches)	 	Water Depth	 	Exposure Type	 	(If Applicable)	 	Required	 	Length (Feet)	 	 	 	Comments	 	Action?	 	Contractor
	 	62	 	 	134	 	SS-32	 	 	16	 	 	 	 	 	 	1-Exposed	 	 	 	 	9	 	 	 	56	 	 	 	 	C&C: Small possible exposure. Possibly just debris, as there is a lot of debris in the area.	 	NF Mitigation Still Required
	 	 	 	 
	 	63	 	 	137	 	EI-129	 	 	24	 	 	 	 	 	 	1-Exposed	 	 	 	 	26	 	 	 	190	 	 	 	 	Exposure seen in SSS.	 	NF Proposed Mitigation ‘09
	 	 	 	 
	 	64	 	 	138	 	EI-116	 	 	12	 	 	 	 	 	 	3-Uncovered	 	 	 	 	6	 	 	 	80	 	 	 	 	Exposure seen in SSS.	 	NF Mitigation Still Required
	 	 	 	 
	 	65	 	 	140	 	SS-113	 	 	6	 	 	 	 	 	 	1-Exposed	 	 	 	 	5	 	 	 	17	 	 	 	 	Exposure seen in SSS.	 	NF Mitigation Still Required
	 	 	 	 
	 	66	 	 	142	 	EI-129	 	 	6	 	 	 	 	 	 	3-Uncovered	 	 	 	 	14	 	 	 	90.06	 	 	 	 	Exposure seen in SSS.	 	NF Mitigation Still Required
	 	 	 	 
	 	67	 	 	143	 	EI-129	 	 	6	 	 	 	 	 	 	3-Uncovered	 	 	 	 	135	 	 	 	1062.23	 	 	 	 	Exposure seen in SSS, possibly cable or discarded pipeline resting near Transco Pipeline	 	NF Mitigation Still Required
	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	1,254	 	 	 	14,930	 	 	 
	 	 	 	 	 	 	 	 
	EXPENSE (NOT CAPITAL) EXPOSURES FOR 2010	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	1	 	 	 	 	14	 	 	 	<15’	 	 	 	 	 	 	 	 	 	 	 	58	 	 	 	 	 	 	Mitigation Still Required
	 	Ship Shoal Area
	 	 	 	 	2	 	 	 	 	14	 	 	 	<15’	 	 	 	 	 	 	 	 	 	 	 	49	 	 	 	 	 	 	Mitigation Still Required
	 	Ship Shoal Area
	 	 	 	 	3	 	 	 	 	14	 	 	 	<15’	 	 	 	 	 	 	 	 	 	 	 	245	 	 	 	 	 	 	Mitigation Still Required
	 	Ship Shoal Area
	 	 	 	 	4	 	2	 	 	14	 	 	 	<15’	 	 	 	 	 	 	 	 	 	 	 	126	 	 	 	 	 	 	Mitigation Still Required
	 	Ship Shoal Area
	 	 	 	 	5	 	3,4	 	 	14	 	 	 	<15’	 	 	 	 	 	 	 	 	 	 	 	315	 	 	 	 	 	 	Mitigation Still Required
	 	Ship Shoal Area
	 	 	 	 	6	 	5	 	 	14	 	 	 	<15’	 	 	 	 	 	 	 	 	 	 	 	262	 	 	 	 	 	 	Mitigation Still Required
	 	Ship Shoal Area
	 	 	 	 	7	 	6	 	 	14	 	 	 	<15’	 	 	 	 	 	 	 	 	 	 	 	459	 	 	 	 	 	 	Mitigation Still Required
	 	Ship Shoal Area

Exhibit A-5

(to Omnibus Agreement)

 

EXHIBIT
A

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	COUNT	 	Mitigation	 	 	 	 	 	 	 	 	 	 	 	 	 	Height of Span	 	 	 	 	 	 	 	 	 	 	 	 
	Exposure	 	Exposure	 	 	 	Line Size	 	Approximate	 	 	 	Above Seafloor	 	Number of Mats	 	Exposure	 	 	 	 	 	 	 	Completed/
	Number	 	Number	 	Area/Bock	 	(Inches)	 	Water Depth	 	Exposure Type	 	(If Applicable)	 	Required	 	Length (Feet)	 	 	 	Comments	 	Action?	 	Contractor
	 	 	 	 	8	 	7	 	 	14	 	 	 	<15’	 	 	 	 	 	 	 	 	 	 	 	413	 	 	 	 	 	 	Mitigation Still Required
	 	Ship Shoal Area
	 	 	 	 	9	 	8	 	 	14	 	 	 	<15’	 	 	 	 	 	 	 	 	 	 	 	537	 	 	 	 	 	 	Mitigation Still Required
	 	Ship Shoal Area
	 	 	 	 	10	 	9	 	 	14	 	 	 	<15’	 	 	 	 	 	 	 	 	 	 	 	183	 	 	 	 	 	 	Mitigation Still Required
	 	Ship Shoal Area
	 	 	 	 	11	 	10	 	 	14	 	 	 	<15’	 	 	 	 	 	 	 	 	 	 	 	258	 	 	 	 	 	 	Mitigation Still Required
	 	Ship Shoal Area
	 	 	 	 	12	 	11	 	 	14	 	 	 	<15’	 	 	 	 	 	 	 	 	 	 	 	209	 	 	 	 	 	 	Mitigation Still Required
	 	Ship Shoal Area
	 	 	 	 	13	 	13	 	 	14	 	 	 	<15’	 	 	 	 	 	 	 	 	 	 	 	317	 	 	 	 	 	 	Mitigation Still Required
	 	Ship Shoal Area
	 	 	 	 	14	 	14	 	 	14	 	 	 	<15’	 	 	 	 	 	 	 	 	 	 	 	395	 	 	 	 	 	 	Mitigation Still Required
	 	Ship Shoal Area
	 	 	 	 	15	 	15	 	 	14	 	 	 	<15’	 	 	 	 	 	 	 	 	 	 	 	236	 	 	 	 	 	 	Mitigation Still Required
	 	Ship Shoal Area
	 	 	 	 	16	 	16	 	 	14	 	 	 	<15’	 	 	 	 	 	 	 	 	 	 	 	228	 	 	 	 	 	 	Mitigation Still Required
	 	Ship Shoal Area
	 	 	 	 	17	 	17	 	 	14	 	 	 	<15’	 	 	 	 	 	 	 	 	 	 	 	280	 	 	 	 	 	 	Mitigation Still Required
	 	Ship Shoal Area
	 	 	 	 	18	 	18,19	 	 	14	 	 	 	<15’	 	 	 	 	 	 	 	 	 	 	 	781	 	 	 	 	 	 	Mitigation Still Required
	 	Ship Shoal Area
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	5351	 	 	 
	 	 	 	 	 	 	 	 

Exhibit A-6

(to Omnibus Agreement)

 

 

EXHIBIT B

Department of Transportation Projects

Georgia Permit Segments

Valve Section: 115-10 to 115-20

	1.	 	Special Permit Segment A-1: Line “A”: MP 1023.03 – 1023.67

	2.	 	Special Permit Segment A-2: Line “A”: MP 1029.42 – 1029.56

	3.	 	Special Permit Segment A-3: Line “A”: MP 1030.76 – 1033.66

	4.	 	Special Permit Segment B-1: Line “B”: MP 1023.02 – 1023.67

	5.	 	Special Permit Segment B-2: Line “B”: MP 1030.76 – 1031.16

	6.	 	Special Permit Segment B-3: Line “B”: MP 1033.28 – 1033.67

	7.	 	Special Permit Segment C-1: Line “C”: MP 1023.02 – 1023.67

	8.	 	Special Permit Segment C-2: Line “C”: MP 1030.72 — 1031.15

	9.	 	Special Permit Segment D-1: Line “D”: MP 1023.45 – 1023.60

	10.	 	Special Permit Segment D-2: Line “D”: MP 1023.67 – 1023.69

	11.	 	Special Permit Segment D-3: Line “D”: MP 1033.25 – 1033.59

Valve Section: 125-10 to 125-20

	1.	 	Special Permit Segment A-1: Line “A”: MP 1095.65 – 1096.93

	2.	 	Special Permit Segment A-2: Line “A”: MP 1102.80 – 1103.10

	3.	 	Special Permit Segment A-3: Line “A”: MP 1103.32 – 1103.40

	4.	 	Special Permit Segment B-1: Line “B”: MP 1095.66 – 1096.88

	5.	 	Special Permit Segment B-2: Line “B”: MP 1102.80 – 1103.10

	6.	 	Special Permit Segment B-3: Line “B”: MP 1103.32 – 1103.42

	7.	 	Special Permit Segment C-1: Line “C”: MP 1095.66 – 1096.89

	8.	 	Special Permit Segment C-2: Line “C”: MP 1102.83 – 1103.09

	9.	 	Special Permit Segment C-3: Line “C”: MP 1103.31 – 1103.40

Exhibit B-1

(to Omnibus Agreement)

 

EXHIBIT
B

North Carolina Permit Segments (Downstream of Station 155):

Valve Section: 155-0 to 155-10

	1.	 	Special Permit Segment A-1 MP 1337.838-1339.780

	2.	 	Special Permit Segment B-1 MP 1337.838-1339.780

Exhibit B-2

(to Omnibus Agreement)

 

EXHIBIT I

FORM OF AMENDMENT TO THE PARTNERSHIP AGREEMENT

(Please see attached.)

 

 

Amendment No. 6

to

Amended and Restated Agreement of Limited Partnership

of Williams Partners L.P.

     This Amendment No. 6, dated February ___, 2010 (this “Amendment”), to the Amended and
Restated Agreement of Limited Partnership, dated as of August 23, 2005, as amended (the
"Partnership Agreement”), of Williams Partners L.P., a Delaware limited partnership (the
"Partnership”), is entered into and effectuated by Williams Partners GP LLC, a Delaware
limited liability company and the general partner of the Partnership (the “General
Partner”), pursuant to authority granted to it in Article XIII of the Partnership Agreement.
Capitalized terms used but not defined herein are used as defined in the Partnership Agreement.

     WHEREAS, Section 5.6 of the Partnership Agreement provides that the Partnership, without the
approval of any Limited Partner, may, for any Partnership purpose, at any time or from time to
time, issue additional Partnership Securities for such consideration and on such terms and
conditions as determined by the General Partner; and

     WHEREAS, Section 13.1(d) of the Partnership Agreement provides that the General Partner,
without the approval of any Partner, may amend any provision of the Partnership Agreement to
reflect a change that the General Partner determines does not adversely affect the Limited Partners
(including any particular class of Partnership Interests as compared to other classes of
Partnership Interests) in any material respect; and

     WHEREAS, Section 13.1(g) of the Partnership Agreement provides that the General Partner,
without the approval of any Partner, may amend any provision of the Partnership Agreement to
reflect an amendment that the General Partner determines to be necessary or appropriate in
connection with the authorization of the issuance of any class or series of Partnership Securities
pursuant to Section 5.6 of the Partnership Agreement; and

     WHEREAS, Williams Energy Services, LLC, a Delaware limited liability company (“WES”),
Williams Gas Pipeline Company, LLC, a Delaware limited liability company (“WGP”), WGP
Gulfstream Pipeline Company, L.L.C., a Delaware limited liability company (“WGPGPC”), the
General Partner (the General Partner, together with WES, WGP and WGPGPC, the “Contributing
Parties”), the Partnership and Williams Partners Operating LLC, a Delaware limited liability
company and wholly-owned subsidiary of the Partnership (the “Operating Company”) and, for a
limited purpose, The Williams Companies, Inc., entered into that certain Contribution Agreement
(the “2010 Contribution Agreement”) dated January 15, 2010, pursuant to which the
Contributing Parties will contribute membership interests and a limited partner interest in certain
Delaware limited liability companies and a Delaware limited partnership, respectively, in exchange
for aggregate consideration that includes the issuance of Class C Units representing a new class of
Partnership Securities to be designated as “Class C Units,” with such terms as are set forth in
this Amendment; and

I-1

 

     WHEREAS, the General Partner has determined that the creation of the Class C Units will be in
the best interests of the Partnership and fair and reasonable to the Partnership’s unaffiliated
Unitholders; and

     WHEREAS, the issuance of the Class C Units complies with the requirements of the Partnership
Agreement; and

     WHEREAS, acting pursuant to the power and authority granted to it: (i) under
Section 13.1(d)(i) of the Partnership Agreement, the General Partner has determined that this
Amendment to the Partnership Agreement does not adversely affect the Limited Partners (including
any particular class of Partnership Interests as compared to other classes of Partnership
Interests) in any material respect, and (ii) under Section 13.1(g) of the Partnership Agreement,
the General Partner has determined that this Amendment to the Partnership Agreement is necessary
and appropriate in connection with the authorization of issuance of the Class C Units;

     NOW THEREFORE, the General Partner does hereby amend the Partnership Agreement as follows:

     1. Section 1.1 of the Partnership Agreement is hereby amended to add or amend and restate the
following definitions:

     “2010 Contribution Agreement” means that Contribution Agreement, dated as of January 18, 2010,
among Williams Gas Pipeline Company, LLC, WES, WGP Gulfstream Pipeline Company, L.L.C., the General
Partner, the Partnership, the Operating Company, and (for purposes of certain Sections thereof
only) Williams.

     “2010 Contribution General Partner Units” means the General Partner Units issued in accordance
with Section 2.2(a)(iii) of the 2010 Contribution Agreement.

     “2010 Omnibus Agreement” means that Omnibus Agreement, dated as of [date], among Williams and
the Partnership.

     “Class C Conversion Effective Date” has the meaning assigned to such term in Section 5.12(f).

     “Class C Unit” means a Partnership Security representing a fractional part of the Partnership
Interests of all Limited Partners and Assignees, and having the rights and obligations specified
with respect to the Class C Units in this Agreement. The term “Class C Unit” does not refer to a
Common Unit until such Class C Unit has converted into a Common Unit pursuant to the terms hereof.

     “Debt Obligations” means, at any particular time, all of the then indebtedness, liabilities
and obligations of the Partnership arising under the (i) $150 million senior unsecured notes
outstanding that mature on June 15, 2011, (ii) $600 million of senior unsecured notes outstanding
that mature on February 1, 2017, (iii) $250 million term loan outstanding under a $450 million
senior unsecured credit agreement with Citibank, N.A. as administrative agent, and (iv) aggregate
$3.5 billion (a) senior unsecured notes outstanding that mature on [dates] [the new

I-2

 

144A offering] and (b) an unsecured credit agreement with [    ] as administrative agent [the
new credit facility], including in each case any indebtedness, liabilities and obligations treated
as that borrowing pursuant to Treasury Regulation Section 1.163-8T or any successor provision.

     “Debt Obligation Net Losses” means an amount of Net Losses as determined for the taxable
period that if allocated to any Unitholder would cause such Unitholder to have a deficit balance in
its Capital Account at the end of such taxable period (or an increase in any existing deficit
balance in its Adjusted Capital Account at the end of such taxable period). Any such Debt
Obligation Net Losses will be allocated to the General Partner pursuant to Section 6.1(b)(iii).

     “Debt Obligation Net Termination Losses” means an amount of Net Termination Losses as
determined for the taxable period that if allocated to any Unitholder would cause such Unitholder
to have a deficit balance in its Capital Account at the end of such taxable period (or an increase
in any existing deficit balance in its Adjusted Capital Account at the end of such taxable period).
Any such Debt Obligation Net Termination Losses will be allocated to the General Partner pursuant
to Section 6.1(c)(ii)(C).

     “Nonrecourse Liability” has the meaning set forth in Treasury Regulation Section 1.752-1(a)(2)
(and excludes the Debt Obligations for which the General Partner bears economic risk of loss under
Treasury Regulation 1.752-2).

     “Per Unit Capital Amount” means, as of any date of determination, the Capital Account, stated
on a per Unit basis, underlying any Unit held by a Person other than the General Partner or any
Affiliate of the General Partner who holds Units.

     “Quarterly Devils Tower Payments” means amounts paid to the Partnership quarterly pursuant to
Article IV of the 2010 Omnibus Agreement with respect to the amortization of deferred revenue in
accordance with generally accepted accounting principles with respect to the Devils Tower floating
production platform located in Mississippi Canyon Block 773.

     “Unit” means a Partnership Security that is designated as a “Unit” and shall include Common
Units, Class B Units, Class C Units and Subordinated Units but shall not include (i) General
Partner Units (or the General Partner Interest represented thereby) or (ii) Incentive Distribution
Rights.

     2. Section 1.1 of the Partnership Agreement is hereby further amended to amend and restate the
final sentence to the definition of “Common Unit” as follows:

     “The term “Common Unit” does not include a Subordinated Unit, a Class B Unit or a Class C Unit
prior to its conversion into a Common Unit pursuant to the terms hereof.”

     3. Section 4.8(c) is hereby amended to add the following sentence to the end of Section
4.8(c):

     “The transfer of a Class C Unit that has converted into a Common Unit shall be subject to the
restrictions imposed by Section 6.10.”

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     4. Section 5.2 is hereby amended to add a new Section 5.2(e) as follows:

     “(e) Each payment by Williams or an Affiliate of Williams in satisfaction of all or any
portion of the Quarterly Devils Tower Payment shall be treated as a Capital Contribution to the
Partnership by the General Partner in the amount of such payment.”

     5. Section 5.5(c) is hereby amended to add a new Section 5.5(c)(iii) as follows:

     “(iii) Subject to Section 6.10, immediately prior to the transfer of a Class C Unit or of a
Class C Unit that has converted into a Common Unit pursuant to Section 5.12(f) by a holder thereof
(other than a transfer to an Affiliate unless the General Partner elects to have this subparagraph
5.5(c)(iii) apply), the Capital Account maintained for such Person with respect to its Class C
Units or converted Class C Units will (A) first, be allocated to the Class C Units or converted
Class C Units to be transferred in an amount equal to the product of (x) the number of such Class C
Units or converted Class C Units to be transferred and (y) the Per Unit Capital Amount for a Common
Unit, and (B) second, any remaining balance in such Capital Account will be retained by the
transferor, regardless of whether it has retained any Class C Units or converted Class C Units.
Following any such allocation, the transferor’s Capital Account, if any, maintained with respect to
the retained Class C Units or retained converted Class C Units, if any, will have a balance equal
to the amount allocated under clause (B) hereinabove, and the transferee’s Capital Account
established with respect to the transferred Class C Units or converted Class C Units will have a
balance equal to the amount allocated under clause (A) hereinabove.”

     6. Article V is hereby amended to add a new Section 5.12 creating a new class of Units as
follows:

     “Section 5.12 Establishment of Class C Units.

     (a) General. The General Partner hereby designates and creates a class of Units to be
designated as “Class C Units” and consisting of a total of 203,000,000 Class C Units, and fixes the
designations, preferences and relative, participating, optional or other special rights, powers and
duties of holders of the Class C Units as set forth in this Section 5.12.

     (b) Rights of Class C Units. During the period commencing upon issuance of the Class C Units
and ending on the Class C Conversion Effective Date:

     (i) Allocations. Except as otherwise provided in this Agreement, all items of Partnership
income, gain, loss, deduction and credit shall be allocated to the Class C Units to the same extent
as such items would be so allocated if such Class C Units were Common Units that were then
Outstanding.

     (ii) Distributions. Except as otherwise provided in this Agreement, the Class C Units shall
have the right to share in partnership distributions of Available Cash pursuant to Section 6.3 on a
pro rata basis with the Common Units (excluding distributions with respect to (A) the calendar
quarter in which the closing of the contributions contemplated by the 2010 Contribution Agreement
occurs and (B) the calendar quarter prior to the calendar quarter in which the closing of the
contributions contemplated by the 2010 Contribution Agreement occurs), so that the

I-4

 

amount of any Partnership distribution to each Common Unit will equal the amount of such
distribution to each Class C Unit. The Class C Units shall have the right to share in Partnership
distributions of Available Cash pursuant to Section 6.3 with respect to the calendar quarter in
which the closing of the contributions contemplated by the 2010 Contribution Agreement occurs, so
that the amount of any Partnership distribution to each Class C Unit will equal (A) the amount of
such distribution to each Common Unit multiplied by (B) a fraction, (x) the numerator of which is
the number of days commencing with the first day of the month in which the closing of the
contributions contemplated by the 2010 Contribution Agreement occurs and ending with the last day
of such calendar quarter and (y) the denominator of which is the total number of days in such
calendar quarter. In the event that the closing of the contributions contemplated by the 2010
Contribution Agreement occurs prior to or on the record date for a distribution by the Partnership
of Available Cash pursuant to Section 6.3 with respect to a calendar quarter prior to the calendar
quarter in which the Closing of the contributions contemplated by the 2010 Contribution Agreement
occurs, the Class C Units shall have no right to share in distributions of Available Cash with
respect to such prior calendar quarter.

     (c) Voting Rights. Prior to the Class C Conversion Effective Date, the Class C Units shall be
entitled to vote as a single class with the holders of the Common Units on any matters on which
Unitholders are entitled to vote, and shall be entitled to vote as a separate class on any matter
that adversely affects the rights or preferences of the Class C Units in relation to other classes
of Partnership Interests (including as a result of a merger or consolidation) or as required by
law. The approval of a majority of the Class C Units shall be required to approve any matter for
which the holders of the Class C Units are entitled to vote as a separate class. Each Class C Unit
will be entitled to the number of votes equal to the number of Common Units into which a Class C
Unit is convertible at the time of the record date for the vote or written consent on the matter.

     (d) Certificates. The Class C Units will be evidenced by certificates in substantially the
form of Exhibit A to Amendment No. 6 to this Agreement and, subject to Section 6.10 and the
satisfaction of any applicable legal and regulatory requirements, may be assigned or transferred in
a manner identical to the assignment and transfer of Common Units. The certificates will initially
include a restrictive legend to the effect that the Class C Units have not been registered under
the Securities Act or any state securities laws.

     (e) Registrar and Transfer Agent. The General Partner will act as registrar and transfer
agent of the Class C Units.

     (f) Conversion. Each Class C Unit shall automatically convert into one Common Unit (subject
to appropriate adjustment in the event of any split-up, combination or similar event affecting the
Common Units or other Units that occurs prior to the conversion of the Class C Units) effective as
of the first business day following the record date for the distribution with respect to the
calendar quarter in which the closing of the contributions contemplated by the 2010 Contribution
Agreement occurs (the “Class C Conversion Effective Date”) without any further action by the
holders thereof and without the approval of any Partner. The terms of the Class C Units will be
changed, automatically and without further action, on the Class C Conversion Effective Date so that
each Class C Unit is converted into one Common Unit and, immediately thereafter, none of the Class
C Units shall be Outstanding; provided, however, that

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such converted Class C Units will remain subject to the provisions of Sections 6.1(d)(xv) and
6.10.

     (g) Surrender of Certificates. Subject to the requirements of Section 6.10, on or after the
Class C Conversion Effective Date, each holder of Class C Units shall promptly surrender the Class
C Unit Certificates therefor, duly endorsed, at the office of the General Partner or of any
transfer agent for the Class C Units. In the case of any such conversion, the Partnership shall,
as soon as practicable thereafter, issue and deliver at such office to such holder of Class C Units
one or more Unit Certificates, registered in the name of such holder, for the number of Common
Units to which such holder shall be entitled. Such conversion shall be deemed to have been made as
of the Class C Conversion Effective Date whether or not the Class C Unit certificate has been
surrendered as of such date, and the Person entitled to receive the Common Units issuable upon such
conversion shall be treated for all purposes as the record holder of such Common Units as of such
date.

     7. Section 6.1(b)(ii) is hereby amended and restated in its entirety as follows:

     “(ii) Second, 100% to the General Partner and the Unitholders, in accordance with
their respective Percentage Interests; provided, that (A) Net Losses shall not be allocated
pursuant to this Section 6.1(b)(ii) to the extent that such allocation would cause any Unitholder
to have a deficit balance in its Adjusted Capital Account at the end of such taxable year (or
increase any existing deficit balance in its Adjusted Capital Account) and (B) Debt Obligation Net
Losses are not Nonrecourse Deductions attributable to a Nonrecourse Liability and any such Debt
Obligation Net Losses shall be allocated to the General Partner pursuant to Section 6.1(b)(iii);
and”

     8. Section 6.1(c)(ii)(B) is hereby amended and restated in its entirety as follows:

     “(B) Second, (x) to the General Partner in accordance with its Percentage Interest and (y) to
all Unitholders holding Common Units, Pro Rata, a percentage equal to 100% less the percentage
applicable to subclause (x) of this clause (B), until the Capital Account in respect of each Common
Unit then Outstanding has been reduced to zero; provided, that Debt Obligation Net Termination
Losses are not Nonrecourse Deductions attributable to a Nonrecourse Liability and any such Debt
Obligation Net Termination Losses shall be allocated to the General Partner pursuant to Section
6.1(c)(ii)(C)); and”

     9. Section 6.1(d)(xiii) is hereby amended and restated in its entirety as follows:

     “(xiii) Certain Allocations to the General Partner. (A) Any deduction or loss
attributable to the Partnership’s obligation to reimburse the General Partner for, or incurred by
the Partnership and constituting, Excess G&A Expenses, which the General Partner has funded or
agreed to fund pursuant to Section 5.2(c) and any deduction or loss attributable to environmental
losses, costs, damages and expenses and repair and compliance costs suffered or incurred by the
Partnership Group, which the General Partner or an Affiliate (other than a Group Member) has
reimbursed or agreed to reimburse and which constitute Environmental Indemnity Obligations, shall
be allocated to the General Partner, and (B) all or any portion of the remaining items of
Partnership deduction or loss for the taxable period, if any, shall be allocated to the General

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Partner until the aggregate amount of such items allocated to the General Partner pursuant to
this Section 6.1(d)(xiii)(B) for the current taxable year and all previous taxable years is equal
to the cumulative amount of all Quarterly Devils Tower Payments made to the Partnership.”

     10. Section 6.1(d) is hereby amended to add a new Section 6.1(d)(xv) as follows:

     “(xv) Class C Economic Uniformity. With respect to any taxable period in which the Class C
Conversion Effective Date occurs (and, if necessary, any subsequent taxable period), items of
Partnership gross income, gain, deduction or loss for the taxable period shall be allocated 100% to
each Limited Partner with respect to such Limited Partner’s Class C Units that are Outstanding on
the Class C Conversion Effective Date in the proportion that the respective number of Class C Units
held by such Partner bears to the total number of Class C Units then Outstanding, until each such
Partner has been allocated the amount of gross income, gain, deduction or loss with respect to such
Partner’s Class C Units that causes the Capital Account attributable to each Class C Unit, on a per
Unit basis, to equal the Per Unit Capital Amount for a Common Unit on the Class C Conversion
Effective Date. The purpose for this allocation is to establish uniformity between the Capital
Accounts underlying converted Class C Units and the Capital Accounts underlying Common Units
immediately prior to the conversion of Class C Units into Common Units.

     11. Section 6.4 is hereby amended to add a new Section 6.4(d) as follows:

     “(c) Reduction in Distributions for Quarter of 2010 Contribution Agreement Closing.

     (i) Reduction in Distributions to General Partner. Notwithstanding any other provision of
this Agreement, the amount of Available Cash otherwise distributable to the General Partner
pursuant to Section 6.3 with respect to the calendar quarter in which the closing of the
contributions contemplated by the 2010 Contribution Agreement occurs shall be reduced by the amount
equal to (A) the amount that would otherwise have been distributed with respect to the 2010
Contribution General Partner Units for such quarter multiplied by (B) a fraction, (x) the numerator
of which is the number of days commencing with the first day of such quarter and ending on the last
day of the month preceding the month in which the closing of the contributions contemplated by the
2010 Contribution Agreement occurs and (y) the denominator of which is the total number of days in
such calendar quarter. In the event that the closing of the contributions contemplated by the 2010
Contribution Agreement occurs prior to or on the record date for a distribution by the Partnership
of Available Cash pursuant to Section 6.3 with respect to a calendar quarter prior to the calendar
quarter in which the Closing of the contributions contemplated by the 2010 Contribution Agreement
occurs, the 2010 Contribution General Partner Units shall not be taken into account in determining
the Percentage Interest of the General Partner or any Unitholder with respect to such prior
calendar quarter and the 2010 Contribution General Partner Units shall have no right to share in
distributions of Available Cash with respect to such prior calendar quarter.

     (ii) Reduction in Distribution to Holders of Incentive Distribution Rights. Notwithstanding
any other provision of this Agreement, the amount of Available Cash otherwise distributable to the
holders of the Incentive Distribution Rights pursuant to Section 6.3 with respect to the calendar
quarter in which the closing of the contributions contemplated by the

I-7

 

2010 Contribution Agreement occurs shall be reduced by the amount equal to (A) the excess of
(x) the amount that would otherwise have been distributed to the holders of the Incentive
Distribution Rights for such quarter if this Section 6.4(d)(ii) did not exist over (y) the amount
that would have been distributed to the holders of the Incentive Distribution Rights for such
quarter if the contributions contemplated by the 2010 Contribution Agreement had not been made and
the issuances of Class C Units and General Partner Units contemplated by the 2010 Contribution
Agreement had not occurred, multiplied by (B) a fraction, (x) the numerator of which is the number
of days commencing with the first day of such quarter and ending on the last day of the month
preceding the month in which the closing of the contributions contemplated by the 2010 Contribution
Agreement occurs and (y) the denominator of which is the total number of days in such calendar
quarter.”

     12. Article VI is hereby amended to add a new Section 6.10 as follows:

     “Section 6.10 Special Provisions Relating to the Holders of Class C Units. A Unitholder
holding a Class C Unit that has converted into a Common Unit pursuant to Section 5.12 shall not be
issued a Unit Certificate pursuant to Sections 4.1 or 5.12(g), and shall not be permitted to
transfer such Common Units until such time as the General Partner determines, based on advice of
counsel, that the converted Class C Unit should have, as a substantive matter, like intrinsic
economic and federal income tax characteristics of an Initial Common Unit. In connection with the
condition imposed by this Section 6.10, the General Partner shall take whatever steps are required
to provide economic uniformity to the converted Class C Units in preparation for a transfer of such
Common Units, including the application of Sections 5.5(c)(iii) and 6.1(d)(xv); provided, however,
that no such steps may be taken that would have a material adverse effect on the Unitholders
holding Common Units represented by Unit Certificates.”

     13. Except as hereby amended, the Partnership Agreement shall remain in full force and effect.

     14. This Amendment shall be governed by, and interpreted in accordance with, the laws of the
State of Delaware, all rights and remedies being governed by such laws without regard to principles
of conflicts of laws.

     15. Each provision of this Amendment shall be considered severable and if for any reason any
provision or provisions herein are determined to be invalid, unenforceable or illegal under any
existing or future law, such invalidity, unenforceability or illegality shall not impair the
operation of or affect those provisions of this Amendment that are valid, enforceable and legal.

*    *    *    *    *

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     IN WITNESS WHEREOF, this Amendment has been executed as of the date first written above.

	 	 	 	 	 
	 	GENERAL PARTNER:

Williams Partners GP LLC

 	 
	 	By:  	 	 
	 	 	Name:  	Donald R. Chappel 	 
	 	 	Title:  	Chief Financial Officer 	 
	 

Signature Page to Amendment No. 6 to

Amended and Restated Agreement of Limited Partnership

of Williams Partners L.P.

 

 

EXHIBIT J

FORM OF TRANSCO ADMINISTRATIVE SERVICES AGREEMENT

(Please see attached.)

 

 

ADMINISTRATIVE SERVICES AGREEMENT

     This Administrative Services Agreement (“Agreement”) is effective as of                     , 2010
(the “Effective Date”), by and between Transco Pipeline Services LLC, a Delaware limited liability
company (“Contractor”), and Transcontinental Gas Pipe Line Company, LLC, a Delaware limited
liability company (“Transco”).

RECITALS

     A. Transco is in the business of owning and operating natural gas pipeline, storage, and
related facilities used in the transportation and storage of natural gas in interstate commerce
(the “Business”).

     B. Effective as of                     , 2010, at 11:59 p.m., Contractor entered into a Personnel Services
Agreement with Williams WPC-I, a Delaware corporation (“WPC”), pursuant to which WPC will be the
employer primarily for payroll, benefits and administrative operations and Contractor will be the
employer primarily with respect to business operations (the “WPC Agreement”).

     C. Transco requires certain services to operate the Business and to fulfill other general and
administrative functions relating to the Business.

     D. Contractor has agreed to provide such services in accordance with the terms of this
Agreement, and Transco is willing to engage Contractor subject to the terms and conditions of this
Agreement.

AGREEMENT

     In consideration of the foregoing recitals, which are incorporated herein by this reference,
and for other good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties agree as follows:

1. DEFINITIONS.

     1.1 Definitions. In addition to the terms defined above and the other terms defined herein, as
used in this Agreement, the following capitalized terms shall have the meanings set forth below:

     “Affiliate” means, with respect to any Person, any other Person that directly or indirectly
through one or more intermediaries controls, is controlled by or is under common control with, the
Person in question, with the term “control” meaning 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.

     “Bankrupt” with respect to any Person means the Person shall generally be unable to pay its
debts as such debts become due, or shall so admit in writing or shall make a general

J-1

 

assignment for the benefit of creditors; or any proceeding shall be instituted by or against
the Person seeking to adjudicate it a bankrupt or insolvent, or seeking liquidation, winding up,
reorganization, arrangement, adjustment, protection, relief, or composition of it or its debts
under any law relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking
the entry of an order for relief or the appointment of a receiver, trustee, or other similar
official for it or for any substantial part of its property and, in the case of any such proceeding
instituted against it (but not instituted by it), shall remain undismissed or unstayed for a period
of 30 days; or the Person shall take any action to authorize any of the actions set forth above.

     “Confidential Information” means non-public information about the disclosing party’s or any of
its Affiliates’ business or activities that is proprietary and confidential, which shall include
all business, financial, technical and other information, including software (source and object
code) and programming code, of a party or its Affiliates marked or designated “confidential” or
“proprietary” or by its nature or the circumstances surrounding its disclosure it should reasonably
be regarded as confidential, regardless of the means by which it was disclosed. Confidential
Information does not include information that (i) is in or enters the public domain without breach
of this Agreement, or (ii) the receiving party lawfully receives from a third party without
restriction on disclosure and to the receiving party’s knowledge without breach of a nondisclosure
obligation.

     “Default Rate” means an interest rate (which shall in no event be higher than the rate
permitted by applicable law) equal to the prime interest rate of Contractor’s principal lender.

     “Funded Amount” has the meaning set forth in Section 5.1.

     “Governmental Approval” means any material consent, authorization, certificate, permit,
right-of-way grant or approval of any Governmental Authority that is necessary for the
construction, ownership, or operation of the Business in accordance with applicable Laws.

     “Governmental Authority” means any court or tribunal in any jurisdiction or any federal,
state, tribal, municipal, or local government or other governmental body, agency, authority,
department, commission, board, bureau, instrumentality, arbitrator, or arbitral body or any
quasigovernmental or private body lawfully exercising any regulatory or taxing authority.

     “Laws” means any applicable statute, common law, rule, regulation, judgment, order, ordinance,
writ, injunction, or decree issued or promulgated by any Governmental Authority.

     “Payment Amount” has the meaning set forth in Section 5.1.

     “Person” means an individual or a corporation, limited liability company, partnership, joint
venture, trust, unincorporated organization, association, government agency or political
subdivision thereof, or other entity.

     “Services” has the meaning set forth in Section 2.2.

     “Subject Employees” has the meaning set forth in Section 7.3.

J-2

 

     1.2 Construction. Unless a clear contrary intention appears, as used herein (a) the singular
includes the plural and vice versa, (b) reference to any document means such document as amended
from time to time, (c) “include” or “including” means including without limiting the generality of
any description preceding such term, (d) the word “or” is not exclusive, unless otherwise expressly
stated, (e) the terms “hereof,” “herein,” “hereby,” and derivative or similar words refer to this
entire Agreement, as the same may be amended from time to time, (f) headings are for convenience
only and do not constitute a part of this Agreement, (g) references to money refer to legal
currency of the United States of America, and (h) all accounting terms shall be interpreted and all
accounting determinations shall be made in accordance with U.S. generally accepted accounting
principles.

2. RETENTION OF CONTRACTOR; SCOPE OF SERVICES.

     2.1 Retention of Contractor. Transco engages Contractor to perform the Services and to provide
all personnel and any facilities, goods, and equipment not otherwise provided by Transco necessary
to operate the Business as provided below, and Contractor accepts such engagement.

     2.2 Scope of Services; Performance Standards. The “Services” shall consist of such services
Transco determines may be reasonable and necessary to operate the Business, including employees
(subject to the terms and conditions of the WPC Agreement), accounting, information technology,
company development, operations, administration, insurance, risk management, tax, audit, finance,
land, marketing, legal, and engineering, which Services may be expanded, modified, or reduced from
time to time as agreed upon by the parties. Contractor shall perform the Services substantially in
accordance with industry standards and substantially in accordance with all applicable material
Governmental Approvals and Laws. Except as provided above, Contractor makes no representations or
warranties regarding the Services and Contractor does not warrant or guarantee any particular
outcome as a result of the Services.

     2.3 Intellectual Property.

          2.3.1 Any (i) inventions, whether patentable or not, developed or invented, or (ii)
copyrightable material (and the intangible rights of copyright therein) developed, by Contractor or
its Affiliates or its or their employees in connection with the performance of the Services shall
be the property of Contractor except that during the term of this Agreement (A) Transco shall be
granted an irrevocable, royalty-free, nonexclusive and non-transferable right and license to use
such inventions or material, and (B) Transco shall only be granted such a right and license to the
extent such grant does not conflict with, or result in a breach, default, or violation of a right
or license to use such inventions or material granted to Contractor by any Person other than an
Affiliate of Contractor. Notwithstanding the foregoing, Contractor shall use commercially
reasonable efforts to grant such right and license to Transco.

          2.3.2 Transco grants to Contractor and its Affiliates an irrevocable, royalty-free,
non-exclusive, and non-transferable right and license to use, during the term of this Agreement,
any intellectual property provided by Transco to Contractor or its Affiliates, but only to the
extent such use is necessary for the performance of the Services. Contractor shall, and shall cause
its Affiliates to, utilize such intellectual property solely in connection with the performance

J-3

 

of the Services.

     2.4 Limitation of Authority. Transco shall have the exclusive authority to appoint an
independent registered public accounting firm to audit the financial statements of Transco.
Notwithstanding such right, nothing in this Agreement shall limit Contractor’s or Contractor’s
Affiliates’ right to audit the books and records of Transco pursuant to any other agreement between
the parties.

3. RELATIONSHIP; DELEGATION OF DUTY.

     3.1 Independent Contractor. The parties to this Agreement are independent contractors, and
none of the provisions of this Agreement shall be interpreted or deemed to create any relationship
between or between the parties other than that of independent contractors. Nothing contained in
this Agreement shall be construed to create a relationship of employer and employee, master and
servant, principal and agent, or partners or joint-venturers between Transco and Contractor,
between Transco and any employee or agent of Contractor, or between Contractor and any employee or
agent of Transco. Without limiting the generality of the foregoing, Transco shall have no right to
control or direct the details, manner, or means by which Contractor perform the Services. Under no
circumstances shall Contractor’s or Contractor’s Affiliates’ employees be considered or deemed to
be employees of Transco.

     3.2 Delegation of Duty. In the performance of its obligations under this Agreement, Contractor
may act directly or through its Affiliates, agents, counsel (in-house or outside) or other persons,
may delegate the performance of functions and may consult with agents, counsel (in-house or
outside) and other Persons. Contractor, and any Person to whom its obligations have been delegated
including any of its Affiliates, shall be entitled to conclusively rely for all purposes upon any
notice, document, correspondence, request or directive received by it from Transco or its
Affiliates, or any officer or director of Transco or its Affiliates, and shall not be obligated to
inquire (a) as to the authority or power of any person executing or presenting any such notice,
document, correspondence, request or directive, or (b) as to the truthfulness of any statements set
forth therein.

4. BOOKS, RECORDS AND REPORTING.

     4.1 Books and Records. Contractor shall maintain accurate books and records regarding the
performance of the Services and its calculation of the Payment Amount, and shall maintain such
books and records for the period required by applicable accounting practices or Law.

     4.2 Audits. Transco shall have the right, upon reasonable notice, and at all reasonable times
during usual business hours, to inspect, audit, examine, and make copies of the books and records
referred to above, which right may be exercised through any agent or employee of Transco designated
in writing by it or by an independent public accountant, engineer, attorney, or other agent so
designated. Transco shall bear all costs and expenses incurred in any inspection, examination, or
audit unless an audit determines that Transco has been overcharged, in which case, in addition to
refunding to Transco the amount of the overcharge, Contractor shall reimburse Transco for the cost
of the audit together with interest thereon at the Default Rate from

J-4

 

the time of the overcharge until refunded. Contractor shall review and respond in a timely
manner to any claims or inquiries made by Transco regarding matters revealed by any such
inspection, examination or audit.

     4.3 Reports. Contractor shall prepare and deliver to Transco any reports provided for in this
Agreement and such other reports as Transco may reasonably request from time to time regarding the
performance of the Services.

5. PAYMENT TO CONTRACTOR.

     5.1 Payment to Contractor. Contractor shall be reimbursed by Transco on a monthly basis, or
such other basis as the Contractor may determine (including on a cash or accrual basis), for (a)
all direct and indirect expenses it incurs or payments it makes on behalf of Transco (including
salary, bonus, incentive compensation, benefits, and other amounts paid to any Person, including
Affiliates of Contractor) to perform the Services, including expenses allocated to Transco by
Affiliates of Contractor, and (b) all other expenses allocable to the Business or otherwise
incurred by Contractor in connection with operating the Business (including expenses allocated to
Contractor by its Affiliates) (collectively, the “Payment Amount”). Contractor shall determine the
expenses that are allocable to Transco. Reimbursements pursuant to this Section shall be in
addition to any reimbursement to Contractor as a result of indemnification pursuant to any other
Section in this Agreement. Any allocation of expenses to Transco by Affiliates of Contractor in a
manner consistent with then-applicable accounting and allocation methodologies generally permitted
by the Federal Energy Regulatory Commission (“FERC”) for rate-making purposes (or in the absence of
then-applicable methodologies permitted by the FERC, consistent with the most-recently applicable
methodologies) and past business practices shall be deemed to be fair and reasonable to Transco.
For the purpose of Contractor’s determination of expenses under this Section 5.1, the parties agree
that Transco shall be given full credit for the amount of assets Transco previously contributed
(calculated immediately prior to the Effective Date) to fund post retirement benefits under any
plans or trusts (including any VEBA or 401(h) account) maintained for the benefit of the employees
of any Person, which employees are engaged in the performance of the Services, as the value of such
assets may be increased or decreased due to investment results, administrative expenses, and
benefit payments (“Funded Amount”), such that no portion of the cost of post-retirement benefits to
the extent paid with the Funded Amount is allocated or charged to Transco under this Section 5.1.

     5.2 Benefit Plans. Contractor, directly or through its Affiliates, may adopt and participate
in employee benefit plans, employee programs, and employee practices (including COBRA obligations,
paid time off payments, severance, retiree medical, retiree life, equity related awards, bonuses,
vesting of employee benefits, retirement plans, and other employee or retiree related payments,
obligations, liabilities or benefits) (collectively, “Plans and Practices”), in each case for the
benefit of employees, former employees, and directors of Contractor or any of its Affiliates, in
respect of Services performed, directly or indirectly, for the benefit of Transco. Contractor,
directly or through its Affiliates, has adopted and participates in (or in the future may adopt and
participate in) Plans and Practices for the benefit of employees and former employees of Transco,
the predecessor of Transco (Transcontinental Gas Pipe Line Corporation), and their Affiliates, in
respect of services previously performed, directly or indirectly, for the

J-5

 

benefit of Transco or its predecessor. Any and all expenses incurred or accrued by Contractor
or its Affiliates in connection with any such Plans and Practices shall be reimbursed by Transco in
accordance with the procedures described in Section 5.1.

6. CONFIDENTIAL INFORMATION.

     6.1 Nondisclosure. Each of Contractor and Transco shall (a) not disclose to any third party
or use any Confidential Information disclosed to it by the other except as necessary to carry out
its obligations under this Agreement, and (b) take all reasonable measures to maintain the
confidentiality of all Confidential Information of the other party in its possession or control,
which will in no event be less than the measures it uses to maintain the confidentiality of its own
information of similar type and importance.

     6.2 Permitted Disclosure. Notwithstanding the foregoing, each party may disclose Confidential
Information (a) to the extent required by a court of competent jurisdiction or other governmental
authority or otherwise as required by law, including without limitation disclosure obligations
imposed under the federal securities laws, provided that such party has given the other party prior
notice of such requirement when legally permissible to permit the other party to take such legal
action to prevent the disclosure as it deems reasonable, appropriate or necessary, or (b) to its
and its Affiliates’ consultants, legal counsel, accountants, financing sources, and their advisors
including Persons performing duties pursuant to Section 3.2.

7. TERM AND TERMINATION.

     7.1 Term. Unless terminated earlier as provided below, this Agreement shall remain in full
force and effect except that (a) Contractor may terminate this Agreement upon 60 days’ advance
written notice to the other party, and (b) Contractor or Transco may terminate this Agreement
immediately upon written notice to the other party at any time at which neither Contractor nor an
Affiliate of Contractor is the general partner of Williams Partners L.P. or its successor in
interest.

     7.2 Termination for Breach. If a party shall be in breach of any provision of this Agreement
(the “Breaching Party”), the non-breaching party (“Non-breaching Party”) shall give the Breaching
Party written notice of such breach (the “Notice”), and, subject to the terms of this Section, the
Breaching Party shall have 30 days after receipt of the Notice within which to cure the breach
except that no Notice shall be required if (a) the breach is an obligation to pay money, in which
case the Breaching Party shall have five business days to cure the breach; (b) the same breach
occurs in any six-month period; (c) the breach pertains to the Breaching Party’s obligations under
Section 6; or (d) a party files a petition in Bankruptcy (or is the subject of an involuntary
petition in Bankruptcy that is not dismissed within 60 days after the effective filing date
thereof). With respect to a breach of the obligations of a Breaching Party contained in Section 6,
there is no adequate remedy at law, and the Non-Breaching Party will suffer irreparable harm as a
result of such a breach. Therefore, if a breach or threatened breach by a Breaching Party of
Section 6 occurs, the Non-Breaching Party shall be entitled to injunctive relief restraining the
breaching party from doing any act in violation thereof without the obligation of posting a bond,
cash, or otherwise.

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     7.3 Effect of Termination. If this Agreement is terminated in accordance with Section 7.1 or
7.2, all rights and obligations under this Agreement shall cease except for (a) obligations that
expressly survive termination of this Agreement; (b) liabilities and obligations that have accrued
prior to such termination, including the obligation to pay any amounts that have become due and
payable prior to such termination, (c) the obligation to pay any portion of the Payment Amount that
has accrued prior to such termination, even if such portion has not become due and payable at that
time, and (d) all liabilities and other obligations attributable, or in any way related to,
employees and former employees of Transco, Contractor, and their respective Affiliates to the
extent that such employees and former employees provided Services to Transco, and the predecessors
in interest of each and the estates, heirs, personal representatives, successors, and assigns of
each such employee and former employee (each, a “Subject Employee”) including with respect to
current and former Plans and Practices and any benefit, equity, or incentive related plans,
programs, policies, or practices of Transco or its predecessors, all of which shall be paid when
due by Transco, recognizing that the amount of some of such liabilities and other obligations shall
not be known at the time of termination of this Agreement and the obligation to pay shall continue
after such termination..

8. RELEASE; INDEMNIFICATION; AND LIMITATION OF LIABILITY.

     8.1 Release. Transco, for itself and on behalf of its Affiliates, and the predecessors in
interest, successors, and assigns of each, releases and forever discharges Contractor, Contractor’s
Affiliates, and the successors and assigns of each, and the officers, directors, shareholders,
members, partners, employees, contractors, and agents of each (as applicable, a “Releasee”) of and
from any and all causes of action, claims, demands, assessments, losses, liabilities, fines,
penalties, suits, damages, liabilities, liens, rights, compensation, costs, and expenses of
whatsoever kind or nature including reasonable legal and expert fees and expenses (each, a
“Damage”), whether now known or unknown, and whether they exist now or in the future, arising from
or relating to performance of, error or delay in performance, attempting to perform or failing to
perform, any responsibilities hereunder, or any Damages related thereto, including claims arising
as a result of the express negligence of the Releasee unless the Damage resulted from the gross
negligence or willful misconduct of the Releasee.

     8.2 Indemnification. Notwithstanding the definitions provided in Section l.1, as used in this
Subsection 8.2: (a) the term Affiliate, when used with reference to Contractor, shall not include
Transco or any of its subsidiaries, and, when used with reference to Transco, shall not include
Contractor and its Affiliates; (b) references to Contractor and Transco, as applicable, as the
Indemnified Party, shall include their respective Affiliates, the successors and assigns of each,
and the officers, directors, shareholders, members, partners, employees, contractors, and agents of
each, and their respective successors, assigns, and, in the case of individuals, their estates,
heirs, and personal representatives; and (c) the Subject Employees are deemed to be third parties.

          8.2.1 Indemnification Obligations. Transco, for itself and on behalf of its Affiliates, and
the predecessors in interest, successors, and assigns of each (the “Transco Indemnifying Party”)
shall indemnify Contractor (the “Contractor Indemnified Party”) from and against all Damages
sustained or incurred as a result of or arising out of or by virtue of any claim made by a third
party against a Contractor Indemnified Party, which claim arises out of or is

J-7

 

caused by (a) a breach of this Agreement by a Transco Indemnifying Party, or (b) any action or
omission, including negligence (but excluding gross negligence or willful misconduct) of a
Contractor Indemnifying Party (as defined below) or its employees or subcontractors in connection
with Contractor’s obligations hereunder.

          Contractor, for itself and on behalf of its Affiliates, and the predecessors in interest,
successors, and assigns of each (the “Contractor Indemnifying Party”) shall indemnify Transco (the
“Transco Indemnified Party”) from and against all Damages sustained or incurred as a result of or
arising out of or by virtue of any claim made by a third party against a Transco Indemnified Party,
which claim arises out of or is caused by the gross negligence or willful misconduct of a
Contractor Indemnifying Party or its employees or subcontractors.

          8.2.2 Procedure. Each of Contractor and Transco shall give the other party prompt written
notice and information in such party’s possession concerning any claim that could result in a
Damage. In performing its indemnity obligation, the Transco Indemnifying Party or the Contractor
Indemnifying Party (as applicable, the “Indemnifying Party”) shall have the right to assume the
settlement in the defense of any suit or suits or other legal proceedings brought to enforce all
such Damages and shall pay all judgments entered in any such suit or other legal proceedings.
Except in the case where the Indemnifying Party refuses to assume such defense in settlement, the
Indemnifying Party shall have no liability for any settlement in or compromise made without its
written consent.

     8.3 Disclaimer; Limitation of Liability. Neither party shall be responsible for any
incidental, indirect, consequential, special, punitive, or exemplary damages. Regardless of the
basis on which Transco makes a claim against Contractor for damages, Contractor shall not be liable
for any amount in excess of the lesser of (a) the amount of any actual and direct loss or damage
incurred, or (b) the amount paid to Contractor in excess of reimbursement for direct and indirect
costs in performance of the Services. All claims against Contractor shall be deemed waived unless
made by Transco in writing and received by Contractor within six months after completion of the
Services with respect to which the claim is being made.

9. GENERAL PROVISIONS.

     9.1 Force Majeure. A party’s obligation under this Agreement, other than an obligation to pay
money and the indemnification obligations hereunder, shall be excused when and to the extent its
performance of that obligation is prevented due to any cause beyond the reasonable control of a
party, including the following causes (unless they are within such party’s reasonable control):
acts of God, strikes, lockouts, acts of the public enemy, wars or warlike action (whether actual or
impending), arrests and other restraints of government (civil or military), blockades, embargoes,
insurrections, riots, epidemics, landslides, lightning, earthquakes, fires, sabotage, tornadoes,
named tropical storms and hurricanes, floods, civil disturbances, terrorism, mechanical breakdown
of machinery or equipment, explosions, confiscation or seizure by any government or other public
authority and any order of any court of competent jurisdiction, regulatory agency or governmental
body having jurisdiction. The party that is prevented from performing its obligation by reason of
one or more of the foregoing events (the “Delayed Party”) shall promptly notify the other party of
that fact and shall exercise due diligence to end its inability to perform as promptly as
practicable. However, in no event shall a

J-8

 

Delayed Party be required to settle any strike, lockout, or other labor dispute in which it
may be involved, but in the event of a strike, lockout, or other labor dispute affecting
Contractor, Contractor shall use reasonable efforts to continue to perform the Services by
utilizing its management personnel and that of its Affiliates.

     9.2 Assignments. Except as otherwise provided herein (including Contractor’s right to delegate
performance of the Services under Section 3.2), neither party shall sell, assign, or transfer any
of its rights, or delegate any of its obligations, under this Agreement to any Person without the
prior consent of the other party except that such prior consent shall not be required if such sale,
assignment, or transfer is to an Affiliate of a party or in connection with a merger,
consolidation, or the sale of substantially all of its assets.

     9.3 Notices. All notices and other communications that are required or permitted to be given
to a party under this Agreement shall be sufficient in all respects if given in writing and
delivered in person, by electronic mail, by facsimile, by overnight courier, or by certified mail,
postage prepaid, return receipt requested, to the receiving party at the following address:

	 	 	 	 	 
	 

	 	     If to Transco:
	 	Transcontinental Gas Pipe Line Company, LLC

2800 Post Oak Blvd.

Houston, TX 77056

Attention: General Counsel

Facsimile: 713-215-2229

E-Mail: Randall.R.Conklin@Williams.com
	 
	 	 	 	 
	 

	 	     If to Contractor:
	 	Transco Pipeline Services Company LLC

2800 Post Oak Blvd.

Houston, TX 77056

Attention: Senior Vice President

Facsimile: 713-215-4269

E-Mail: Phil.Wright@Williams.com

or to such other address as such party may have given to the other by notice pursuant to this
Section. Notice shall be deemed given on the date of delivery, in the case of personal delivery,
electronic mail, or facsimile, or on the delivery or refusal date, as specified on the return
receipt in the case of certified mail or on the tracking report in the case of overnight courier.

     9.4 Further Assurances. The parties shall execute and deliver all documents, provide all
information and take or refrain from taking action as may be necessary or appropriate to achieve
the purposes of this Agreement.

     9.5 Binding Effect. This Agreement shall be binding upon and inure to the benefit of the
parties hereto and their heirs, executors, administrators, successors, legal representatives, and
permitted assigns.

     9.6 Invalidity of Provisions. If any provision of this Agreement is or becomes invalid,
illegal, or unenforceable in any respect, the validity, legality, and enforceability of the
remaining provisions contained herein shall not be affected thereby.

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     9.7 Third Party Beneficiaries. None of the provisions of this Agreement shall be for the
benefit of, or shall be enforceable by, any Person not a party to this Agreement.

     9.8 Waiver. No failure by any party to insist upon the strict performance of any covenant,
duty, agreement, or condition of this Agreement or to exercise any right or remedy consequent upon
a breach thereof shall constitute waiver of any such breach of any other covenant, duty, agreement
or condition.

     9.9 Applicable Law. This Agreement shall be construed in accordance with and governed by the
laws of the State of Oklahoma, without regard to the principles of conflicts of law. The proper
venue for any lawsuit shall only exist in Tulsa, Oklahoma.

     9.10 Attorneys’ Fees. If a party shall commence any action or proceeding against another party
in order to enforce the provisions of this Agreement or to recover damages as a result of the
alleged breach of any of the provisions of this Agreement, the prevailing party shall be entitled
to recover from the other party all reasonable costs in connection therewith, including reasonable
attorneys’ fees.

     9.11 Survival of Terms and Conditions. The terms and condition of this Agreement shall survive
the expiration or termination of this Agreement to the full extent necessary for their enforcement
and for the protection of the party in whose favor they operate, including the terms and conditions
contained in Sections 2.3, 5.1, 5.2, 6.1, 6.2, 7.3, 8.1 through 8.3, and 9.2 through 9.12.

     9.12 Integration; Amendments. This Agreement constitutes the entire Agreement among the
parties hereto pertaining to the subject matter hereof and supersedes all prior agreements and
understandings pertaining thereto. This Agreement may be amended or restated only by a written
instrument executed by both parties.

     9.13 Counterparts. This Agreement may be executed in two or more counterparts, each of which
shall be deemed an original, but all of which shall constitute one and the same instrument. A
facsimile or electronic signature to this Agreement shall be deemed an original and binding upon
the party against whom enforcement is sought.

[See signature page(s) attached]

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The parties have executed this Administrative Services Agreement on, and effective as of                     , the
Effective Date.

	 	 	 	 	 
	 	Transcontinental Gas Pipe Line Company, LLC

 	 
	 	By: 	 	 
	 	Name:	Phillip D. Wright 	 
	 	Title:	Senior Vice President 	 
	 
	 	Transco Pipeline Services Company LLC

 	 
	 	By: 	 	 
	 	Name:	Phillip D. Wright 	 
	 	Title:	Senior Vice President 	 

Signature Page to Administrative Services Agreement

 

 

EXHIBIT K

FORM OF SECONDMENT AGREEMENT

(Please see attached.)

 

 

SECONDMENT AGREEMENT

     This Secondment Agreement (the “Agreement”), dated as of [date] (the “Effective Date”), is
entered into between The Williams Companies, Inc., a Delaware corporation (“Williams”), Williams
Partners L.P., a Delaware limited partnership (“WPZ”), and Williams Partners GP LLC, a Delaware
limited liability company (the “General Partner”) and the general partner of WPZ. The above-named
entities are sometimes referred to in this Agreement each as a “Party” and collectively as the
“Parties.” WPZ and the General Partner are sometimes collectively referred to as the “Partnership
Entities.”

RECITALS:

     A. WPZ and its subsidiaries own and operate assets that include natural gas gathering,
processing, treating and/or production handling facilities (the “Midstream Business”).

     B. Williams will cause its affiliates (the “Williams Entities”) to provide certain personnel
necessary to operate, manage, maintain and report the operating results of the Midstream Business;

     C. All management powers over the business and affairs of WPZ are exclusively vested in the
General Partner, and the General Partner is required to conduct, direct and exercise full control
over all activities of WPZ, including, among other things, providing various operational and
maintenance resources and services;

     D. In connection with the provision of services with respect to the Midstream Business
conducted by [identify specific midstream entit(ies)] (each, a “Midstream Entity”), Williams
desires to second to the General Partner certain personnel employed or contracted by the Williams
Entities;

AGREEMENT:

     NOW, THEREFORE, 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:

SECTION 1

SECONDMENT

     1.1 Seconded Employees.

     (a) Subject to the terms of this Agreement, Williams agrees to cause the Williams Entities to
second to the General Partner, and the General Partner agrees to accept the secondment of, those
certain specifically identified individuals (each, a “Seconded Employee” and collectively, the
"Seconded Employees”) listed on Exhibit A (the “Seconded Employee Schedule”) for the purpose of
performing job functions related to the assets owned by the Midstream Entities (the “Secondment”).

K-1

 

     (b) The Seconded Employees will remain at all times employees of the Williams Entities but, in
addition, they will also be temporary employees of the General Partner during the Period of
Secondment (as defined below). At all times during the Period of Secondment, the Williams Entities
shall instruct each Seconded Employee to comply with all lawful instructions from the General
Partner regarding the performance of the Secondment Services (as defined in Section 2 below) and
the Seconded Employees shall work under the direction, supervision and control of an officer of the
General Partner as regards the performance of the activities under this Agreement. Williams will
retain the right to cause the Williams Entities to hire or discharge the Seconded Employees but,
subject to the provisions in Section 1.2 or elsewhere in this Agreement, will not have the right to
cause the Williams Entities to terminate the Secondment to the General Partner or otherwise
exercise direction, supervision or control over the Seconded Employees regarding the performance of
the activities that are part of the Secondment Services. For each Seconded Employee, the “Period
of Secondment” shall be that period of time as set forth in Section 1.2.

     (c) The Seconded Employee Schedule sets forth the names of the Seconded Employees seconded by
the Williams Entities, the job functions of the Seconded Employees, the starting date for the
Period of Secondment for each Seconded Employee, and the names of those Seconded Employees who also
provide services to Williams Entities in connection with its operations (“Shared Seconded
Employees”). Except for those designated as “Shared Seconded Employees” on the Seconded Employee
Schedule, each Seconded Employee shall have no actual or apparent authority to act on behalf of the
Williams Entities during the Period of Secondment. Individuals may be added or removed from the
Seconded Employee Schedule from time to time by the execution by the Parties of a completed
"Addition/Removal/Change of Responsibility of Seconded Employee” form, the form of which is
attached to this Agreement as Exhibit B, which will be fully binding on the Parties for all
purposes under this Agreement. Those rights and obligations of the Parties under this Agreement
that relate to individuals who were on the Seconded Employee Schedule but then later removed from
the Seconded Employee Schedule, which rights and obligations accrued before the removal of such
individual, will survive the removal of such individual from the Seconded Employee Schedule to the
extent necessary to enforce such rights and obligations.

     1.2 Period of Secondment. Williams will cause the Williams Entities to second to the General
Partner each Seconded Employee on the start date set forth on the Seconded Employee Schedule and
continue to second, during the period (and only during the period) that the Seconded Employee is
performing services for the General Partner, until the earliest of:

     (a) the end of the term of this Agreement;

     (b) the end date, if any, set forth for the Seconded Employee on the Seconded Employee
Schedule (or another end date for such Seconded Employee as mutually agreed in writing by the
Parties) (the “End Date”);

     (c) a withdrawal, departure, resignation or termination of such Seconded Employee under
Section 1.3;

K-2

 

     (d) the date on which a Williams Entity ceases to own a majority of the issued and outstanding
voting equity of the General Partner and the General Partner has entered into
satisfactory arrangements which it determines, in good faith, will provide it with suitable
qualified and experienced full-time or seconded employees necessary to operate, manage, and
maintain the assets of the Midstream Entities; and

     (e) a termination of Secondment for such Seconded Employee under Section 1.4.

     At the end of the Period of Secondment for any Seconded Employee, such Seconded Employee will
no longer be subject to the direction of the General Partner with regard to the Seconded Employee’s
day-to-day activities.

     1.3 Withdrawal, Departure or Resignation. Williams will use reasonable efforts to cause the
Williams Entities to prevent any early withdrawal, departure, resignation or termination of any
Seconded Employee prior to the End Date for such Seconded Employee’s Period of Secondment. If any
Seconded Employee tenders his resignation to a Williams Entity as an employee of such Williams
Entity or a Williams Entity terminates or suspends the employment of any Seconded Employee as an
employee of such Williams Entity, Williams will promptly notify the General Partner. During the
Period of Secondment for any Seconded Employee, Williams will cause the Williams Entities to not
voluntarily withdraw any Seconded Employee except with the written consent of the General Partner
(which may be through the execution of a completed Addition/Removal/Change of Responsibility of
Seconded Employee form), such consent not to be unreasonably withheld. Nothing in this Agreement
shall abridge, restrict or limit in any manner Williams’ legal right to end a Seconded Employee’s
employment with Williams and the Williams Entities just as if the Secondment had not occurred.
Nothing in this Agreement shall be construed to be a guarantee of a Seconded Employee’s employment
with any of Williams or a Williams Entity for any amount of time, including without limitation the
time covered by any Period of Secondment. Williams will indemnify, defend and hold harmless the
General Partner and its directors, officers and employees against any and all costs, expenses
(including reasonable attorneys’ fees), claims, demands, losses, liabilities, obligations, actions,
lawsuits and other proceedings, judgments and awards (each, a “Loss” and collectively, the
"Losses”) arising out of or in any way connected with or related to the termination of employment
with a Williams Entity of any Seconded Employee by that Williams Entity without the consent of THE
GENERAL PARTNER, WHICH SHALL NOT BE UNREASONABLY WITHHELD, EVEN THOUGH SUCH LOSS MAY BE CAUSED IN
PART BY THE NEGLIGENCE OF ONE OR MORE OF THE PARTNERSHIP ENTITIES, except to the extent that such
Losses (i) arise solely out of or result solely from the negligence, gross negligence or willful
misconduct of any of the Partnership Entities, or (ii) arise in connection with the termination of
a Seconded Employee for cause. The General Partner and WPZ shall each indemnify, defend and hold
harmless Williams, the Williams Entities and each of their directors, officers and employees
against any and all Losses arising our of or in any way connected with or related to the
resignation of a Seconded Employee that ends such Seconded Employee’s Period of Secondment or the
exercise by the General Partner of its supervision and control of the day-to-day activities of a
Seconded Employee, EVEN THOUGH SUCH LOSS MAY BE CAUSED IN PART BY THE NEGLIGENCE OF ONE OR MORE OF
WILLIAMS OR A WILLIAMS ENTITY, except to the extent that such Losses arise solely out of or result
solely from the

K-3

 

negligence, gross negligence or willful misconduct of any of Williams or any of the
Williams
Entities. Upon the termination of employment, the Seconded Employee will cease performing services
for the General Partner.

     1.4 Termination of Secondment. The General Partner will have the right to terminate the
Secondment to it of any Seconded Employee for any reason at any time. Subject to Sections 1.2 and
1.3, Williams will not have the right to cause any Williams Entity to terminate the Secondment to
the General Partner of any Seconded Employee. Upon the termination of a Secondment, the Seconded
Employee will cease performing services for the General Partner pursuant to the terms of this
Agreement. At no time will the General Partner have the right to terminate the employment with the
Williams Entities of the Seconded Employees.

     1.5 Supervision. During the Period of Secondment, the General Partner shall:

     (a) be ultimately and fully responsible for the daily work assignments of the Seconded
Employee (and with respect to Shared Seconded Employees during those times that the Shared Seconded
Employees are performing services for the General Partner hereunder), including supervision of
their day-to-day work activities and performance consistent with the terms stated in Section 1.1
and the job functions set forth in the Seconded Employee Schedule;

     (b) set the hours of work and the holidays and vacation schedules (other than with respect to
Shared Seconded Employees, as to which the General Partner and Williams shall jointly determine)
for the Seconded Employee, so long as such determinations are not inconsistent with Williams’
vacation and personal absence policies and other applicable policies; and

     (c) have the right to determine training which will be received by the Seconded Employee.

     In the course and scope of performing any Seconded Employee’s job functions, the Seconded
Employee will be integrated into the organization of the General Partner, will report into the
General Partner’s management structure, and will be under the direct management and supervision of
the General Partner. The General Partner shall designate one of its officers, who does not also
provide services to Williams in connection with Williams’ exploration and production operations, to
be responsible for the supervisory function set forth in this Section 1.5 on behalf of the General
Partner.

     1.6 Seconded Employee Qualifications; Approval. Williams will cause the Williams Entities to
provide such suitably qualified and experienced Seconded Employees as it is able to make available
to the General Partner, and the General Partner will have the right to approve or reject each such
Seconded Employee.

K-4

 

SECTION 2

SECONDMENT SERVICES

     2.1 Secondment Services. Williams shall cause the Williams Entities to second Seconded
Employees to the General Partner to provide the General Partner with certain
personnel necessary for WPZ to operate, manage, maintain and report the operating results of the
assets owned by the Midstream Entities (the “Secondment Services”).

     2.2 Cancellation or Reduction of Secondment Services. The General Partner may terminate or
reduce the level of any of the Secondment Services on 30 days’ prior written notice to Williams.

     2.3 Workers’ Compensation. At all times, Williams will cause the Williams Entities to
maintain workers’ compensation insurance (either through an insurance company or self-insured
arrangement) applicable to the Seconded Employees. Williams will cause the Williams Entities to
name the General Partner as an also insured employer under such insurance policy. Prior to being
assigned any duties by the General Partner, each Seconded Employee must sign an acknowledgement
that the Seconded Employee is an employee during the Secondment Period of both the Williams
Entities and the General Partner and that for any work place injury, the Seconded Employee’s sole
remedy will be under such Williams Entity’s workers’ compensation insurance policy.
Notwithstanding the foregoing, nothing herein shall preclude a Seconded Employee from participating
in benefit programs generally available to employees of Williams Entities to which they are
otherwise eligible and shall not imply that any Seconded Employee is entitled to any employee
benefits from the General Partner or any of the Partnership Entities.

SECTION 3

SERVICES REIMBURSEMENT

     WPZ hereby agrees to reimburse the General Partner on a monthly basis, or such other basis as
the General Partner may determine, in accordance with the reimbursement provisions of Section 7.4
of the Amended and Restated Agreement of Limited Partnership of WPZ, dated as of August 23, 2005,
as amended or restated from time to time, for the amount of all direct and indirect expenses the
General Partner determines are paid or incurred on behalf of the Midstream Entities by the General
Partner and the Williams Entities (without duplication) in connection with the performance of the
Secondment Services during the preceding month (the “Services Reimbursement”). The General Partner
shall in turn promptly pay over to Williams or its designee that portion of the Services
Reimbursement that is Seconded Employee Expenses (as defined in Section 4 below).

SECTION 4

COMPENSATION AND EXPENSES OF SECONDED EMPLOYEES

     Williams and the Williams Entities shall be solely responsible for establishing the terms of
and paying all salary or other payments (included but not limited to all other compensation, all
benefits and any expense reimbursements) required to be made to the Seconded Employees pursuant to
the terms and conditions of the Seconded Employees’ employment with Williams

K-5

 

and the Williams
Entities, and all administrative expenses associated with the payment and delivery of such Seconded
Employees’ compensation and benefits, including federal and state income tax withholding, payroll
taxes, and the like, and the related reporting and administration of payroll. In addition,
Williams and the Williams Entities shall be solely responsible for providing any health insurance,
disability insurance, life insurance, workers’ compensation
coverage (as described in greater detail in Section 2.3), unemployment insurance, participation in
and contributions to any pension or profit-sharing plans in which a Seconded Employee is eligible
to participate by virtue of employment with a Williams Entity and all other direct and indirect
costs attributable to such Seconded Employee’s compensation and benefits relating to such Seconded
Employee’s employment with a Williams Entity. Collectively such costs and expenses incurred by
Williams and the Williams Entities for the Seconded Employees shall be referred to as the “Seconded
Employee Expenses” and shall be included with the definition of Services Reimbursement, which
obligation to reimburse shall be the primary legal responsibility of the General Partner. No
Seconded Employee will be entitled to additional compensation or benefits from the Partnership
Entities as a result of the performance of services pursuant to this Agreement. Williams agrees to
indemnify and hold the General Partner harmless from any and all Losses incurred by the Partnership
Entities, or any of the Midstream Entities related to Williams’ failure to carry out its
responsibilities for the payment of the Seconded Employee Expenses as set forth above, except to
the extent that such Losses arise solely out of or result solely from the negligence, gross
negligence or willful misconduct of any of the Partnership Entities or the Midstream Entities.

SECTION 5

TERM

     The term of this Agreement will commence on the Effective Date and will continue for an
initial period of [10] years. Upon the expiration of the initial [10] year period, the term of
this Agreement shall automatically extend for an additional 12 month period, unless either Party
provides at least 180 days’ prior written notice to the other Party, prior to the expiration of
such initial period, that the Party wishes for this Agreement to expire at the end of the initial
[10] year period. After the initial 12 month renewal period, the term of this Agreement shall
automatically extend for additional 12 month periods, unless either Party provides prior written
notice, at least 180 days prior to the expiration of the applicable 12 month period, that the Party
wishes for this Agreement to expire at the end of such 12 month period. Upon proper notice by a
Party to the other Party, in accordance with this Section 5, that the Party wishes for this
Agreement to expire on the expiration of the applicable [10] year or 12 month period, this
Agreement shall not automatically extend, but shall instead expire upon the expiration of the
applicable [10] year or 12 month period and only those provisions that, by their terms, expressly
survive this Agreement shall so survive. Notwithstanding the foregoing, the General Partner may
terminate this Agreement at any time, upon 180 days prior written notice to Williams, and only
those provisions that, by their terms, expressly survive this Agreement shall so survive.
Furthermore, this Agreement shall terminate on the date the conditions set forth in Section 1.2(d)
are satisfied.

K-6

 

SECTION 6

GENERAL PROVISIONS

     6.1 Force Majeure. A party’s obligation under this Agreement, other than an obligation to pay
money and the indemnification obligations hereunder, shall be excused when and to the extent its
performance of that obligation is prevented due to any cause beyond the reasonable control of a
party, including the following causes (unless they are within such party’s reasonable control):
acts of God, strikes, lockouts, acts of the public enemy, wars or warlike
action (whether actual or impending), arrests and other restraints of government (civil or
military), blockades, embargoes, insurrections, riots, epidemics, landslides, lightning,
earthquakes, fires, sabotage, tornadoes, named tropical storms and hurricanes, floods, civil
disturbances, terrorism, mechanical breakdown of machinery or equipment, explosions, confiscation
or seizure by any government or other public authority and any order of any court of competent
jurisdiction, regulatory agency or governmental body having jurisdiction. The party that is
prevented from performing its obligation by reason of one or more of the foregoing events (the
"Delayed Party”) shall promptly notify the other party of that fact and shall exercise due
diligence to end its inability to perform as promptly as practicable. However, in no event shall a
Delayed Party be required to settle any strike, lockout, or other labor dispute in which it may be
involved, but in the event of a strike, lockout, or other labor dispute affecting the Williams
Entities, the Williams Entities shall use reasonable efforts to continue to perform the Secondment
Services by utilizing its management personnel and that of its Affiliates (as defined in
Section 6.8 below).

     6.2 Assignments. Except as otherwise provided herein, no Party shall sell, assign, or
transfer any of its rights, or delegate any of its obligations, under this Agreement to any person
without the prior consent of the other Parties except that such prior consent shall not be required
if such sale, assignment, or transfer is to an Affiliate of a Party or in connection with a merger,
consolidation, or the sale of all or substantially all of the assets of a Party. Each of the
Parties hereto specifically intends that each entity comprising the Williams Entities, the
Affiliates of WPZ controlled by WPZ (the “WPZ Entities”), and the Midstream 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. Other than as set forth in
the preceding sentence, nothing in this Agreement, whether express or implied, is intended or shall
be construed to confer, directly or indirectly, upon or give to any person (including any Seconded
Employee) other than the Parties, any legal or equitable right, remedy or claim under or in respect
of this Agreement or any covenant, condition or other provision contained herein.

     6.3 Notices. All notices and other communications that are required or permitted to be given
to a party under this Agreement shall be sufficient in all respects if given in writing and
delivered in person, by electronic mail, by facsimile, by overnight courier, or by certified mail,
postage prepaid, return receipt requested, to the receiving party at the following address:

	 	 	 	 	 
	 

	 	     If to Williams:
	 	The Williams Companies, Inc.

One Williams Center

Tulsa, Oklahoma 74172

Attn: General Counsel

K-7

 

	 	 	 	 	 
	 

	 	 	 	Telecopy: (918) 573-5942
	 
	 	 	 	 
	 

	 	     If to WPZ:
	 	Williams Partners L.P.

One Williams Center

Tulsa, Oklahoma 74172

Attn: General Counsel and Conflicts Committee Chair

Telecopy: (918) 573-5942
	 
	 	 	 	 
	 

	 	     If to General Partner:
	 	Williams Partners GP LLC

One Williams Center

Tulsa, Oklahoma 74172

Attn: Chief Financial Officer

Telecopy: (918) 573-0871

or to such other address as such party may have given to the other by notice pursuant to this
Section. Notice shall be deemed given on the date of delivery, in the case of personal delivery,
electronic mail, or facsimile, or on the delivery or refusal date, as specified on the return
receipt in the case of certified mail or on the tracking report in the case of overnight courier.

     6.4 Further Assurances. The parties shall execute and deliver all documents, provide all
information and take or refrain from taking action as may be necessary or appropriate to achieve
the purposes of this Agreement.

     6.5 Binding Effect. This Agreement shall be binding upon and inure to the benefit of the
parties hereto and their heirs, executors, administrators, successors, legal representatives, and
permitted assigns.

     6.6 Invalidity of Provisions. If any provision of this Agreement is or becomes invalid,
illegal, or unenforceable in any respect, the validity, legality, and enforceability of the
remaining provisions contained herein shall not be affected thereby.

     6.7 Legal Compliance. The Parties acknowledge and agree that this Agreement, and all services
provided under this Agreement, are intended to comply with any and all laws and legal obligations
and that this Agreement should be construed and interpreted with this purpose in mind. In this
regard, the Parties specifically agree as follows:

     (a) The Parties will comply with all equal employment opportunity requirements and other
applicable employment laws. Where a joint or combined action is required by the law in order to
comply with an employment obligation, the parties will cooperate fully and in good faith to comply
with the applicable obligation.

     (b) The General Partner acknowledges and agrees that Seconded Employees may utilize the
complaint reporting and resolution process of Williams and agrees to cooperate in the investigation
and resolution of any complaint that may be made.

     (c) The Parties agree that they will adhere to the Fair Labor Standards Act of 1938, as
amended, any comparable state law and any law regulating the payment of wages or

K-8

 

compensation. The
General Partner is solely responsible for ensuring that non-exempt Seconded Employees accurately
record their hours and time worked.

     6.8 Relationship of the Parties. Nothing in this Agreement shall cause any of Williams, the
Williams Entities or the Partnership Entities to become members of any other partnership, joint
venture, association, syndicate or other entity. Nothing in this Agreement shall cause any
Partnership Entity to be considered a Williams Entity, and vice versa. “Affiliate” means, with
respect to any person, any other person that directly or indirectly through one or
more intermediaries controls, is controlled by or is under common control with, the person in
question, with the term “control” meaning 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.

     6.9 Waiver. No failure by any party to insist upon the strict performance of any covenant,
duty, agreement, or condition of this Agreement or to exercise any right or remedy consequent upon
a breach thereof shall constitute waiver of any such breach of any other covenant, duty, agreement
or condition.

     6.10 Applicable Law. This Agreement shall be construed in accordance with and governed by the
laws of the State of Oklahoma, without regard to the principles of conflicts of law. The proper
venue for any lawsuit shall only exist in Tulsa, Oklahoma.

     6.11 Attorneys’ Fees. If a party shall commence any action or proceeding against another
party in order to enforce the provisions of this Agreement or to recover damages as a result of the
alleged breach of any of the provisions of this Agreement, the prevailing party shall be entitled
to recover from the other party all reasonable costs in connection therewith, including reasonable
attorneys’ fees.

     6.12 Survival of Terms and Conditions. The terms and condition of this Agreement shall
survive the expiration or termination of this Agreement to the full extent necessary for their
enforcement and for the protection of the party in whose favor they operate.

     6.13 Integration; Amendments. This Agreement constitutes the entire Agreement among the
parties hereto pertaining to the subject matter hereof and supersedes all prior agreements and
understandings pertaining thereto. This Agreement may be amended or modified from time to time only
by the written agreement of all the Parties; provided, however, that the General Partner may not,
without the prior approval of the Conflicts Committee of the Board of Directors of the General
Partner, agree to any amendment or modification of this Agreement that, in the reasonable
discretion of the General Partner, will have an adverse effect on the holders of common units of
WPZ.

     6.14 Counterparts. This Agreement may be executed in two or more counterparts, each of which
shall be deemed an original, but all of which shall constitute one and the same instrument. A
facsimile or electronic signature to this Agreement shall be deemed an original and binding upon
the party against whom enforcement is sought.

K-9

 

     The parties have executed this Secondment Agreement on, and effective as of                     , the Effective
Date.

	 	 	 	 	 
	 	The Williams Companies, Inc.

 	 
	 	By:	 	 
	 	Name: 	Donald R. Chappel 	 
	 	Title:	Chief Financial Officer 	 
	 
	 	Williams Partners L.P.

 	 
	 	By:	Williams Partners GP LLC, its general partner
 	 
	 	 	 
	 	By:	
 	 
	 	Name: 	Donald R. Chappel 	 
	 	Title:	Chief Financial Officer 	 
	 
	 	Williams Partners GP LLC

 	 
	 	By:	 	 
	 	Name: 	Donald R. Chappel 	 
	 	Title:	Chief Financial Officer 	 

Signature Page to Secondment Agreement

 

 

Exhibit A

Seconded Employee Schedule

This Exhibit A is attached to the Secondment Agreement (the “Agreement”) dated [date] by and
between The Williams Companies, Inc., Williams Partners L.P. and Williams Partners GP LLC. All
defined terms used herein shall have the same meaning as set forth in the Agreement. All
information must be filled in for this form to be valid.

	 	 	 	 	 
	Name of Seconded	 	 	 	 
	Employee	 	Title and Job Function	 	Start Date
	 	 	 	 	 

Exhibit A-1

(to Secondment Agreement)

 

 

Exhibit B

Addition/Removal/Change of Responsibility of Seconded Employee

Exhibit B-1

(to Secondment Agreement)

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