Panhandle Eastern Pipe Line Company, LP

THIRD REVISED VOLUME NO. 1

Effective Date: 04/22/2006, Docket: RP06-275-000, Status: Effective

Second Revised Sheet No. 572 Second Revised Sheet No. 572 : Effective

Superseding: First Revised Sheet No. 572

RATE SCHEDULE IOS (Continued)

IN/OUT STORAGE SERVICE

FORM OF STORAGE AGREEMENT

ARTICLE 4

TERM

4.1 This Agreement shall be effective from the date first

stated above. Panhandle shall provide firm storage service for

Shipper pursuant to this Agreement from _____________ until

________________, when the term of this Agreement shall expire, unless

extended pursuant to Section 7.7 of the General Terms and Conditions.

ARTICLE 5

GENERAL TERMS AND CONDITIONS

This Agreement and all terms for service hereunder are subject

to the further provisions of Rate Schedule IOS and the General Terms

and Conditions of Panhandle's Tariff, as such may be modified,

supplemented, superseded or replaced generally or as to the service

hereunder. Panhandle reserves the right from time to time to

unilaterally file and to make effective any such changes in the

provisions of Rate Schedule IOS and/or the General Terms and

Conditions, subject to the applicable provisions of the Natural Gas

Act and the Commission's Regulations thereunder. Such Rate Schedule

and General Terms and Conditions, as may be changed from time to

time, are by this reference incorporated in their entirety into this

Agreement and made an integral part hereof.

ARTICLE 6

SUCCESSION AND ASSIGNMENTS

This Agreement shall be binding upon and inure to the benefit

of any successor(s) to either Panhandle or Shipper by merger,

consolidation or acquisition. Either Panhandle or Shipper may assign

or pledge this Agreement and all rights and obligations hereunder

under the provisions of any mortgage, deed of trust, indenture or

other instrument which it has executed or may execute hereafter as

security for indebtedness; otherwise, except as provided in Section

15 of the General Terms and Conditions, neither Panhandle nor Shipper

shall assign this Agreement or its rights hereunder without first

having obtained the formal written consent of the other(s).