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Williams Partners GP LLC
Director Compensation Policy
Adopted November 29, 2005
Revised August 20, 2008
Revised January 26, 2009
Revised May 28, 2009
Compensation
of Directors
Members of the
Board of Directors (the “Board”) of Williams Partners
GP LLC (the “Company”) who are also officers or
employees of affiliates of the Company shall receive no additional
compensation for serving on the Board or Board
committees.
I. Bi-Annual
Compensation Package
Subject to
adjustment as provided in Section IV below, for the two
periods beginning on August 22 nd of
each year and ending on January 31 st of
the following year as well as beginning on February 1
st and ending on August 21
st (each “Bi-Annual Compensation
Period”), directors who are not officers or employees of the
Company or its affiliates (each a “Non-Employee
Director” and collectively “Non-Employee
Directors”) shall receive the following bi-annual
compensation package (“Bi-Annual Compensation
Package”):
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1.
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$37,500 cash, subject to the
provisions of Section IV below, such cash compensation to be
paid on August 22 nd and February 1
st
for an annual sum of
$75,000; and
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2.
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$2,500 cash each for service on the
conflicts and audit committees of the Board, subject to the
provisions of Section IV below, such cash compensation to be
paid on August 22 nd and February 1
st
for an annual sum of
$5,000.
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II.
Conflicts Committee Fees
In addition to
the Bi-Annual Compensation Package, each Non-Employee Director
serving as a member of the conflicts committee shall receive $1,250
cash for each conflicts committee meeting where the member is
present, minutes have been recorded,
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