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Exhibit 10.3
Execution Copy
THIRD AMENDMENT
TO
TRANSITION SERVICES
AGREEMENT
THIS THIRD AMENDMENT TO TRANSITION
SERVICES AGREEMENT (this “ Amendment ”) is
entered into as of April 30, 2007 (the “ Effective
Date ”), by and between Duke Energy Corporation, a
Delaware corporation (“ Duke Energy ”), and
Spectra Energy Corp (f/k/a Gas SpinCo, Inc.), a Delaware
corporation (“ Spectra Energy ”), each a
“Party” and together, the “ Parties
”.
R E C I T A L S:
WHEREAS, the Parties have entered into
that certain Transition Services Agreement dated as of
December 13, 2006, as amended by that certain First Amendment
to Transition Services Agreement dated as of January 1, 2007,
and that certain Second Amendment to Transition Services Agreement
dated as of March 30, 2007 (as so amended, the “
Transition Services Agreement ”); and
WHEREAS, each Party has determined that
it is in the best interests of its stockholders to amend the
Transition Services Agreement as described in this
Amendment.
NOW, THEREFORE, in consideration of the
foregoing premises, the mutual promises and covenants hereinafter
set forth, and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Parties,
intending to be legally bound, agree, effective as of the Effective
Date, as follows:
1. Definitio
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