0001299933-06-001523 Sample Contracts

THE WILLIAMS COMPANIES, INC. 2002 INCENTIVE PLAN NONQUALIFIED STOCK OPTION AGREEMENT
Nonqualified Stock Option Agreement • March 7th, 2006 • Williams Companies Inc • Natural gas transmission

This Nonqualified Stock Option Agreement (“Option Agreement”) contains the terms of the Option (as defined below) granted to you in this Option Agreement. Certain other terms of the Option are defined in the Plan (as defined below).

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Contract
Performance-Based Deferred Stock Agreement • March 7th, 2006 • Williams Companies Inc • Natural gas transmission

THIS 2006 PERFORMANCE-BASED DEFERRED STOCK AGREEMENT (this “Agreement”), which contains the terms and conditions for the shares referred to in the 2006 Performance-Based Deferred Stock Award Letter delivered in hard copy or electronically to Participant (“2006 Award Letter”), is by and between THE WILLIAMS COMPANIES, INC., a Delaware corporation (the “Company”) and the individual identified on the last page hereof (the “Participant”).

Contract
Deferred Stock Agreement • March 7th, 2006 • Williams Companies Inc • Natural gas transmission

THIS DEFERRED STOCK AGREEMENT (this “Agreement”), which contains the terms and conditions for the shares referred to in the 2006 Deferred Stock Award Letter delivered in hard copy or electronically to Participant (“2006 Award Letter”), is by and between THE WILLIAMS COMPANIES, INC., a Delaware corporation (the “Company”) and the individual identified on the last page hereof (the “Participant”).

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