Exhibit 10.13 FIRST AMENDMENT TO ASSET PURCHASE AND SALE AGREEMENT between WILLIAMS REFINING & MARKETING, L.L.C., WILLIAMS GENERATING MEMPHIS, L.L.C., WILLIAMS MEMPHIS TERMINAL, INC., WILLIAMS PETROLEUM PIPELINE SYSTEMS, INC. AND WILLIAMS MID-SOUTH PIPELINES, LLC Sellers and THE WILLIAMS COMPANIES. INC. Sellers' Guarantor and THE PREMCOR REFINING GROUP, INC. Purchaser and PREMCOR INC. Purchaser's Guarantor This First Amendment is made effective as of January 16, 2003 by and among the Sellers, Sellers' Guarantor, the Purchaser and Purchaser's Guarantor (the "Parties"). RECITALS A. The Parties made and entered into that certain Asset Purchase and Sale Agreement as of the 25/th/ day of November, 2002 (the "Asset PSA"). B. The Parties now desire to amend the Asset PSA as set forth herein. In consideration of the matters set forth herein, the Parties agree that the Asset PSA is hereby amended in the following particulars: 1 1. Exhibit H - Financing Commitments. First Amended Exhibit H is attached hereto. It replaces and supersedes Exhibit H to the Asset PSA. Pursuant to Section 5.l(i) of the Asset PSA, First Amended Exhibit H incorporates copies of the Purchaser's financing commitment letters from Blackstone Management Associates III, Occidental C.O.B. Partners, Thomas D. O'Malley, Morgan Stanley Senior Funding, Inc. and Morgan Stanley Capital Group Inc 2. Schedules 6.2(m) and 6.2(n). First Amended Schedules 6.2(m) and 6.2(n) are attached hereto and replace and supersede Schedules 6.2(m) and 6.2(n) to the Asset PSA. 3. Sellers Closing Obligations. The first phrase of Section 3.2(a) is amended to read as follows: "Sellers shall deliver to Purchaser or to Purchaser's Affiliates or designees (as specified in writing at least three (3) business days prior to Closing):" [THE BALANCE OF THIS PAGE HAS INTENTIONALLY BEEN LEFT BLANK, WITH SIGNATURES APPEARING ON THE NEXT PAGE] 2 Signature page to that certain First Amendment to Asset Purchase and Sale Agreement between Williams Refining & Marketing, LLC., Williams Generating Memphis, L.L.C., Williams Memphis Terminal, Inc., Williams Petroleum Pipeline Systems, Inc and Williams Mid-South Pipelines, LLC (Sellers), The Williams Companies, Inc. (Sellers' Guarantor) and Premcor Refining Group, Inc. (Purchaser) and Premcor Inc. (Purchaser's Guarantor) IN WITNESS WHEREOF, the Parties have caused this First Amendment to be executed by their duly authorized representatives as of the date first above written. "Purchaser" "Sellers" The Premcor Refining Group, Inc. Williams Refining & Marketing, L.L.C. By: /s/ Michael Gayda By: ____________________________________ -------------------------------------- Name: ______________________________ Name: Michael Gayda Title: _____________________________ --------------------------------- Title: Senior V.P. Williams Generating Memphis, L.L.C. -------------------------------- "Purchaser's Guarantor" By: ____________________________________ Name: ______________________________ Premcor Inc. Title: _____________________________ By: /s/ Michael Gayda Williams Memphis Terminal, Inc. -------------------------------------- Name: Michael Gayda --------------------------------- By: ____________________________________ Title: Senior V.P. and General Counsel Name: ______________________________ -------------------------------- Title: _____________________________ Williams Petroleum Pipeline Systems, Inc. By: ____________________________________ Name: ______________________________ Title: ____________________________ "Sellers' Guarantor" The Williams Companies, Inc. Williams Mid-South Pipeline, LLC By: ______________________________________ By: ____________________________________ Name: ________________________________ Name: ______________________________ Title: _______________________________ Title: _____________________________ 3 Signature page to that certain First Amendment to Asset Purchase and Sale Agreement between Williams Refining & Marketing, LLC., Williams Generating Memphis, L.L.C., Williams Memphis Terminal, Inc., Williams Petroleum Pipeline Systems, Inc. and Williams Mid-South Pipelines, LLC (Sellers), The Williams Companies, Inc. (Sellers' Guarantor) and Premcor Refining Group, Inc. (Purchaser) and Premcor Inc. (Purchaser's Guarantor) IN WITNESS WHEREOF, the Parties have caused this First Amendment to be executed by their duly authorized representatives as of the date first above written. "Purchaser" "Sellers" The Premcor Refining Group, Inc. Williams Refining & Marketing, L.L.C. By: ______________________________________ By: /s/ Randy M. Newcomer Name: ________________________________ ------------------------------------ Title: _______________________________ Name: Randy M. Newcomer ------------------------------ Title: President ----------------------------- Williams Generating Memphis, L.L.C. "Purchaser's Guarantor" By: /s/ Randy M. Newcomer Premcor Inc. ------------------------------------ Name: Randy M. Newcomer ------------------------------ Title: President ----------------------------- By: ______________________________________ Williams Memphis Terminal, Inc. Name: ________________________________ Title: _______________________________ By: /s/ Randy M. Newcomer ------------------------------------ Name: Randy M. Newcomer ------------------------------ Title: President ----------------------------- Williams Petroleum Pipeline Systems, Inc. By: /s/ Randy M. Newcomer ------------------------------------ Name: Randy M. Newcomer ------------------------------ Title: Vice President ----------------------------- "Sellers' Guarantor" Williams Mid-South Pipeline, LLC The Williams Companies, Inc. By: /s/ Randy M. Newcomer /s/ Philip D. Wright ------------------------------------ By: -------------------------------------- Name: Randy M. Newcomer Name: Philip D. Wright ------------------------------ -------------------------------- Title: President Title: Chief Restructuring Officer ----------------------------- ------------------------------- 4