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Subsequent Events
6 Months Ended
Jun. 30, 2014
Subsequent Events

12. Subsequent Events

On July 24, 2014, the board of directors of the Partnership’s general partner declared a cash distribution to the Partnership’s unitholders of $0.595 per unit, together with the corresponding distributions to the Class B unitholders and the general partner. The cash distributions will be paid on August 14, 2014, to unitholders of record at the close of business on August 7, 2014, and to the general partner.

On July 1, 2014, Williams acquired all of the interests in the Partnership and Access Midstream Ventures, L.L.C., the sole member of the General Partner, that were owned by the GIP II Entities.  As a result of the closing of the Williams Acquisition, Williams owns 100% of the General Partner, and the GIP II Entities no longer have any ownership interest in the Partnership or the General Partner.  As a result of the Williams Acquisition, all units outstanding under the LTIP at June 30, 2014, vested on July 1, 2014, resulting in total compensation expense of $38.5 million.  Additionally, both components of the Management Incentive Compensation Plan vested on July 1, 2014, resulting in accelerated compensation expense of $41.1 million.