Document:

EX-10.2

 Exhibit 10.2 

FORM OF 
 CONTRIBUTION,
CONVEYANCE AND ASSUMPTION 
 AGREEMENT 

By and Among 
 US
DEVELOPMENT GROUP, LLC 
 USD GROUP LLC 

USD PARTNERS GP, LLC 

USD PARTNERS LP 
 AND

 USD LOGISTICS OPERATIONS LP 

Dated as of                    , 2014

 CONTRIBUTION, CONVEYANCE AND ASSUMPTION AGREEMENT 

This Contribution, Conveyance and Assumption Agreement, dated as of
                     , 2014 (this “Agreement”), is by and among US Development Group, LLC, a Delaware limited liability
company (“USD”), USD Group LLC, a Delaware limited liability company (“USDG”), USD Partners GP LLC, a Delaware limited liability company (the “General Partner”), USD Partners
LP, a Delaware limited partnership (the “Partnership”), and USD Logistics Operations LP, a Delaware limited partnership (“Opco”). The above-named entities are sometimes referred to in this Agreement
each as a “Party” and collectively as the “Parties.” Capitalized terms used herein shall have the meanings assigned to such terms in Article I. 

RECITALS 

WHEREAS, the Partnership has been formed pursuant to the Delaware Revised Uniform Limited Partnership Act (the “Delaware LP
Act”), for the purpose of engaging in any business activity that is approved by the General Partner and that lawfully may be conducted by a limited partnership organized pursuant to the Delaware LP Act. 

WHEREAS, in order to accomplish the objectives and purposes in the preceding recital, each of the following actions has been taken
prior to the date hereof: 
  

	 	1.	Opco distributed its interests in Grays Harbor Rail Terminal LLC, a Delaware limited liability company, and Portland Rail Terminal LLC, a Delaware limited liability company, to USD. 

 

	 	2.	USD conveyed its interest in (a) West Colton Rail Terminal LLC, a Delaware limited liability company (“West Colton”) and (b) San Antonio Rail Terminal LLC, a Delaware limited liability
company (“San Antonio”) to Opco. 

  

	 	3.	USD Terminals Canada ULC, a British Columbia unlimited liability company (“USD Terminals Canada ULC”) borrowed in Canadian dollars the equivalent of
$         (the “Bank Debt”) under its existing credit facility with a syndicate of unrelated third party lenders. 

 

	 	4.	USD formed the General Partner under the terms of the Delaware Limited Liability Company Act (the “Delaware LLC Act”), and contributed to the General Partner $1,000 in exchange for all of the
limited liability company interests in the General Partner. 

  

	 	5.	USD and the General Partner formed the Partnership under the terms of the Delaware LP Act and contributed $980 and $20 to the Partnership, respectively, in exchange for a 98% limited partner interest (the
“Initial LP Interest”) and a 2% general partner interest, respectively, in the Partnership. 

  

	 	6.	Opco loaned in Canadian dollars the equivalent of $         (the “Lux Hardisty Note”) to USD Terminals International S.A.R.L., a Luxembourg Societe a
Responsabilite Limitee (“USD Terminals International”), which in turned loaned in Canadian dollars the equivalent of $             to USD Terminals Canada ULC (the
“Canada Hardisty Note”). 

	 	7.	USD formed USDG under the terms of the Delaware LLC Act and contributed to Opco $2,000 in exchange for all of the limited liability company interests in Opco. 

 

	 	8.	USD and USDG have previously entered into that Contribution, Conveyance and Assumption Agreement dated July 23, 2014, whereby all of USD’s assets and liabilities were conveyed to USDG. 

 

	 	9.	USDG formed USD Operations LLC, a Delaware limited liability company (“Operations”), under the terms of the Delaware LLC Act and contributed to Operations $1,000 in exchange for all of the
limited liability company interests in Operations. 

  

	 	10.	USDG conveyed its interests in Tri-Point Trading LLC and USD Solutions LLC to Operations. 

  

	 	11.	USDG caused all currently existing intercompany accounts (other than the Lux Hardisty Note and the Canada Hardisty Note) to be recapitalized as equity in USDG. 

WHEREAS, concurrently with the consummation of the transactions contemplated hereby, each of the following transactions will occur at
the times specified hereinafter: 
  

	 	1.	Opco will distribute an amount of its interest in West Colton and San Antonio to USDG with a value equal to 2% of the equity of the Partnership at the closing of the Initial Offering (the “Opco
Interest”). 

  

	 	2.	USDG will convey the Opco Interest to the General Partner as a capital contribution. 

  

	 	3.	The General Partner will convey the Opco Interest to the Partnership in exchange for (a) a continuation of its 2% general partner interest and (b) the Incentive Distribution Rights. 

 

	 	4.	 USDG will convey (a) its interest in USD Logistics Operations GP, LLC (“Opco GP”) and (b) its limited partner
interest in Opco (subject to the Bank Debt) (together, with its interest in Opco GP, the “USDG Contribution Interest”) to the Partnership in exchange for
(v)             Common Units with a         % interest in the Partnership,
(w)             Subordinated Units with a         % interest in the Partnership, (x) the assumption of the
$         senior secured credit agreement with the Bank of Oklahoma (the “BOK Debt”), and (y) the right to receive $         sourced to new
debt of the Partnership. To the extent that the Bank Debt and the BOK Debt are not properly treated as qualified liabilities (within the meaning of Treasury regulation § 1.707-5(a)(6)) (the “USDG Non-Qualified Liabilities”), the
resulting deemed cash distribution to USDG will be treated as a reimbursement of 

	 	
preformation capital expenditures (within the meaning of Treasury regulation § 1.707-4(d)) incurred by USD and USDG with respect to the property contributed by USDG to the Partnership. Any
actual cash distributions made by the Partnership to USDG in connection with the contribution of property made by USDG to the Partnership that would otherwise be treated as part of a sale under Treasury regulation § 1.707-3 will be made to
reimburse USDG for preformation capital expenditures (within the meaning of Treasury regulation § 1.707-4(d)) to the extent those expenditures exceed the USDG Non-Qualified Liabilities. 

 

	 	5.	The public, through the Underwriters, will contribute $         ($         net of the Underwriters’ discount
of        % and the Structuring Fee) in exchange for                  Common Units with a
        % interest in the Partnership. 

  

	 	6.	The Partnership will (a) pay transaction expenses estimated at $            , excluding the Underwriters’ discount of
        %, (b) repay $         of the BOK Debt and (c) contribute $         to Opco as a capital contribution.

  

	 	7.	The Partnership will convey the Opco Interest to Opco as a capital contribution. 

  

	 	8.	Opco will lend in Canadian dollars the equivalent of $         of the amount received from the Partnership to USD Terminals International (the “Lux Note”),
which will in turn lend in Canadian dollars the equivalent of $         to USD Terminals Canada ULC (the “Canada Note”). USD Terminals Canada ULC will use the Canadian dollars the
equivalent of $         borrowed from USD Terminals International to repay the Bank Debt. 

  

	 	9.	The Partnership will enter into a new $300,000,000 credit facility with             (the “MLP Credit Facility”), structured into a
$100,000,000 term loan (the “MLP Term Loan”) and a $200,000,000 revolving credit facility (the “MLP Revolver”). 

  

	 	10.	USD Terminals Canada ULC will borrow in Canadian dollars the equivalent of $ under the MLP Term Loan, the repayment of which will be guaranteed by USDG, and USD Terminals Canada ULC (a) will repay in Canadian
dollars the equivalent of $         to USD Terminals International in total satisfaction of the Canada Note; (b) will repay in Canadian dollars the equivalent of
$         to USD Terminals International in total satisfaction of the Canada Hardisty Note; and (c) will distribute in Canadian dollars the equivalent of $        
to USD Terminals International. 

  

	 	11.	USD Terminals International (a) will repay in Canadian dollars the equivalent of $         to Opco in total satisfaction of the Lux Note, (b) will repay in Canadian
dollars the equivalent of $         to Opco in total satisfaction of the Lux Hardisty Note and (c) redeems a certain class of shares in Canadian dollars the equivalent of
$         to Opco. 

  

	 	12.	Opco will distribute $         to the Partnership, which will in turn distribute $         to USDG. 

	 	13.	The Partnership will redeem the Initial LP Interest from USDG and will refund USDG’s initial contribution of $980, as well as any interest or other profit that may have resulted from the investment or other use of
such initial capital contribution to USDG, in proportion to such initial contribution. 

 NOW, THEREFORE, in
consideration of the mutual covenants, representations, warranties and agreements herein contained, the parties hereto agree as follows: 

ARTICLE I 
 DEFINITIONS

 The terms set forth below in this Article I shall have the meanings ascribed to them below or in the part of this Agreement
referred to below: 
 “Agreement” has the meaning assigned to such term in the preamble. 

“Bank Debt” has the meaning assigned to such term in the recitals. 

“BOK Debt” has the meaning assigned to such term in the recitals. 

“Canada Hardisty Note” has the meaning assigned to such term in the recitals. 

“Canada Note” has the meaning assigned to such term in the recitals. 

“Common Units” has the meaning assigned to such term in the Partnership Agreement. 

“Delaware LLC Act” has the meaning assigned to such term in the recitals. 

“Delaware LP Act” has the meaning assigned to such term in the preamble. 

“Effective Time”
means                    , 2014. 

“General Partner” has the meaning assigned to such term in the recitals. 

“Incentive Distribution Rights” has the meaning assigned to such term in the Partnership Agreement. 

“Initial LP Interest” has the meaning assigned to such term in the recitals. 

“Initial Offering” has the meaning assigned to such term in the Partnership Agreement. 

“Lux Hardisty Note” has the meaning assigned to such term in the recitals. 

“Lux Note” has the meaning assigned to such term in the recitals. 

“MLP Credit Facility” has the meaning assigned to such term in the recitals. 

“MLP Revolver” has the meaning assigned to such term in the recitals. 

 “MLP Term Loan” has the meaning assigned to such term in the recitals. 

“Opco” has the meaning assigned to such term in the preamble. 

“Opco Agreement” has the meaning assigned to such term in Section 2.4. 

“Opco GP” has the meaning assigned to such term in the recitals. 

“Opco GP Agreement” has the meaning assigned to such term in Section 2.4. 

“Opco Interest” has the meaning assigned to such term in the recitals. 

“Over-Allotment Option” has the meaning assigned to such term in the Underwriting Agreement. 

“Partnership” has the meaning assigned to such term in the recitals. 

“Partnership Agreement” means the Third Amended and Restated Agreement of Limited Partnership of the Partnership, dated as of
                    , 2014. 

“Party” and “Parties” has the meaning assigned to such term in the preamble. 

“Registration Statement” means the Partnership’s Registration Statement on Form S-1 filed with the Commission
(Registration No. 333-198500), as amended and effective at the Effective Time. 
 “San Antonio” has the meaning
assigned to such term in the recitals. 
 “San Antonio Agreement” has the meaning assigned to such term in
Section 2.1. 
 “Subordinated Units” has the meaning such term in the Partnership Agreement. 

“Structuring Fee” means a fee for certain advisory services equal to $        
pursuant to the Structuring Fee Letter by and among Barclays Capital Inc., Citigroup Global Markets Inc., Evercore Group L.L.C. and the Partnership, payable to Evercore Group L.L.C., Citigroup Global Markets Inc. and Barclays Capital Inc. 

“Underwriters” means those underwriters listed in Schedule I of the Underwriting Agreement. 

“Underwriting Agreement” means the underwriting agreement by and among USDG, the Partnership, the General Partner, Opco and
Citigroup Global Markets Inc. and Barclays Capital Inc. as representatives of the Underwriters, dated                     , 2014. 

“USD” has the meaning assigned to such term in the preamble. 

“USDG” has the meaning assigned to such term in the preamble. 

“USDG Contribution Interest” has the meaning assigned to such term in the recitals. 

 “USDG Non-Qualified Liabilities” has the meaning assigned to such term in the
recitals. 
 “USD Terminals Canada ULC” has the meaning assigned to such term in the recitals. 

“USD Terminals International” has the meaning assigned to such term in the recitals. 

“West Colton” has the meaning assigned to such term in the recitals. 

“West Colton Agreement” has the meaning assigned to such term in Section 2.1. 

ARTICLE II 

CONTRIBUTION, ACKNOWLEDGEMENTS AND DISTRIBUTIONS 

Unless otherwise indicated, the following shall be completed at the Effective Time: 

Section 2.1 Distribution by Opco of the Opco Interest to USDG. Opco hereby distributes, assigns, transfers, sets over and delivers
to USDG, its successors and its assigns, for its and their own use forever, all right, title and interest in the Opco Interest. USDG hereby accepts the Opco Interest as a distribution. Notwithstanding anything in the Amended and Restated Limited
Liability Company Agreement of West Colton Rail Terminal LLC, dated as of November 14, 2008 (the “West Colton Agreement”), or the Limited Liability Company Agreement of San Antonio Rail Terminal LLC, dated as of
June 3, 2009 (the “San Antonio Agreement”), to the contrary, as applicable, pursuant to this distribution USDG is hereby admitted as a member of both West Colton and San Antonio and agrees that it is bound by the West
Colton Agreement and the San Antonio Agreement. 
 Section 2.2 Contribution by USDG of the Opco Interest to the General Partner.
USDG hereby grants, contributes, bargains, conveys, assigns, transfers, sets over and delivers to the General Partner, its successors and its assigns, for its and their own use forever, all right, title and interest in and to the Opco Interest. The
General Partner hereby accepts the Opco Interest as a contribution. Notwithstanding anything in the West Colton Agreement or the San Antonio Agreement to the contrary, as applicable, pursuant to this contribution, (i) the General Partner is
hereby admitted as a member of each of West Colton and San Antonio and agrees that it is bound by the West Colton Agreement the San Antonio Agreement, (ii) USDG ceases to be a member of West Colton and San Antonio, and (iii) West Colton
and San Antonio each hereby continue without dissolution with the General Partner as a member. 
 Section 2.3 Contribution by the
General Partner of the Opco Interest to the Partnership. The General Partner hereby grants, contributes, bargains, conveys, assigns, transfers, sets over and delivers to the Partnership, its successors and its assigns, for its and their own use
forever, all right, title and interest in and to the Opco Interest, in exchange for a continuation of the General Partner’s 2% general partner interest in the Partnership (after giving effect to any exercise to the Over-Allotment Option) and
(b) the Incentive Distribution Rights. The Partnership hereby accepts the Opco Interest as a contribution. Notwithstanding anything in the West Colton Agreement or the San Antonio Agreement to the contrary, as applicable, pursuant to this
contribution, (i) the Partnership is hereby admitted as a member of each of West Colton and San Antonio and agrees that it is bound by the West Colton Agreement and San Antonio Agreement, (ii) the General Partner ceases to be a member of
West Colton and San Antonio, and (iii) West Colton and San Antonio each hereby continue without dissolution with the Partnership as a member. 

 Section 2.4 Contribution by USDG of the USDG Contribution Interest the Partnership.
USDG hereby grants, contributes, bargains, conveys, assigns, transfers, sets over and delivers to the Partnership, its successors and its assigns, for its and their own use forever, all right, title and interest in and to the USDG Contribution
Interest, as capital contributions, in exchange for (i)        Common Units representing a        % limited partner interest in the Partnership,
(ii)        Subordinated Units representing a        % limited partner interest in the Partnership, (iii) the assumption of the BOK Debt, and (iv) right to
receive $         of proceeds from new debt of the Partnership. The Partnership hereby accepts the 100% interest in Opco GP and the 100% interest in Opco as contributions. To the extent that the USDG
Non-Qualified Liabilities result in a deemed cash distribution to USDG, such deemed cash distribution will be treated as a reimbursement of preformation capital expenditures (within the meaning of Treasury regulation § 1.707-4(d)) incurred by
USD and USDG with respect to the property contributed by USDG to the Partnership. Any actual cash distributions made by the Partnership to USDG in connection with the contribution of property made by USDG to the Partnership that would otherwise be
treated as part of a sale under Treasury regulation § 1.707-3 will be made to reimburse USDG for preformation capital expenditures (within the meaning of Treasury regulation § 1.707-4(d)) to the extent those expenditures exceed the USDG
Non-Qualified Liabilities. Notwithstanding anything in the Limited Liability Company Agreement of Opco GP, effective as of December 17, 2014 (the “Opco GP Agreement”), or the Limited Partnership Agreement of Opco,
effective as of December 17, 2013 (the “Opco Agreement”) to the contrary, pursuant to this contribution (i) the Partnership is hereby admitted as a member and limited partner of Opco GP and Opco, respectively, and
agrees that it is bound by the Opco GP Agreement and the Opco Agreement, and (ii) USDG hereby ceases to be a member and limited partner of Opco GP and Opco, respectively, immediately following the Partnership’s admission as described in
(i), and (iii) Opco GP and Opco each hereby continue without dissolution with the Partnership as sole member and limited partner, respectively. 

Section 2.5 Public Cash Contribution. The Parties acknowledge that, in connection with the Initial Offering, public investors,
through the Underwriters, have made a capital contribution to the Partnership of approximately $         in cash ($         net to the Partnership after deducting the
underwriting discounts and commissions of $         and the Structuring Fee) in exchange for             Common Units, representing a
        % limited partner interest in the Partnership. 
 Section 2.6 Payment of Transaction
Expenses, Repayment of the BOK Debt and Contribution of Proceeds by the Partnership. The Parties acknowledge (a) the payment by the Partnership, in connection with the closing of the Initial Offering, of transaction expenses in the amount
of approximately $        , (b) the repayment of approximately $         of the BOK Debt and (c) the contribution by the Partnership of
$         to Opco as a capital contribution. Opco accepts the $         from the Partnership as a capital contribution. 

Section 2.7 Contribution by the Partnership of the Opco Interest to Opco. The Partnership hereby grants, contributes, bargains,
conveys, assigns, transfers, sets over and delivers to Opco, its successors and its assigns, for its and their own use forever, all right, title 

 
and interest in and to the Opco Interest. Opco hereby accepts the Opco Interest as a contribution. Notwithstanding anything in the West Colton Agreement or the San Antonio Agreement to the
contrary, as applicable, pursuant to this contribution, (i) the Partnership ceases to be a member of West Colton and San Antonio, and (ii) West Colton and San Antonio hereby each all continue without dissolution with Opco as its sole
member. 
 Section 2.8 Use of Contribution Proceeds by Opco. Opco agrees to (i) lend in Canadian dollars the equivalent of
$         to USD Terminals International, (ii) cause USD Terminals International to lend in Canadian dollars the equivalent of Canadian dollar equivalent of
$        to USD Terminals Canada ULC, and (iii) cause USD Terminals Canada ULC to use the Canadian dollar equivalent of $        borrowed from Opco to repay the
Bank Debt. The Parties acknowledge that $        will be retained by Opco for future acquisitions and general partnership purposes. 

Section 2.9 Entry into MLP Credit Facility. The Parties acknowledge that the Partnership shall enter into the MLP Credit Facility.

 Section 2.10 MLP Term Loan Borrowing and Use of Proceeds. The Parties acknowledge that (i) USD Terminals Canada ULC
shall borrow in Canadian dollars the equivalent of $        under the MLP Term Loan; (ii) USDG shall guarantee repayment of the $         borrowed by USD Terminals
Canada; (iii) USD Terminals Canada ULC shall (a) repay in Canadian dollars the equivalent of $        to USD Terminals International in total satisfaction of the Canada Note, (b) repay in
Canadian dollars the equivalent of $        to USD Terminals International in total satisfaction of the Canada Hardisty Note, (c) distribute in Canadian dollars the equivalent of
$        to USD Terminals International, and (iv) USD Terminals International shall (a) repay in Canadian dollars the equivalent of $        to Opco in total
satisfaction of the Lux Note, (b) repay in Canadian dollars the equivalent of $        to Opco in total satisfaction of the Lux Hardisty Note, and (c) redeem a certain class of shares in Canadian
dollars the equivalent of $        held by Opco. 
 Section 2.11 Distribution by Opco of
Cash to the Partnership. Opco hereby distributes $         in cash received in connection with Section 2.10 of this Agreement to the Partnership. 

Section 2.12 Distribution by the Partnership of Cash to USDG. The Partnership hereby distributes
$         in cash received in connection with Section 2.11 of this Agreement to the USDG. 

Section 2.13 Redemption of the Initial LP Interest from the Partnership and Return of Initial Capital Contribution. The
Partnership hereby redeems the Initial LP Interest held by USDG and hereby refunds and distributes to USDG the initial contribution, in the amount of $980.00, made by USDG in connection with the formation of the Partnership, along with 98.0% of any
interest or other profit that resulted from the investment or other use of such initial contribution. 

 ARTICLE III 

EXERCISE OF OVER-ALLOTMENT OPTION 

If the Over-Allotment Option is exercised in whole or in part, the Underwriters will contribute additional cash to the Partnership in exchange
for up to an additional              Common Units on the basis of the initial public offering price per Common Unit set forth in the Registration Statement less the amount of underwriting
discounts and commissions and Structuring Fee, and the Partnership shall use the net proceeds from that exercise to redeem from USDG the number of Common Units issued upon such exercise. 

ARTICLE IV 
 FURTHER
ASSURANCES 
 From time to time after the Effective Time, and without any further consideration, the Parties agree to execute,
acknowledge and deliver all such additional deeds, assignments, bills of sale, conveyances, instruments, notices, releases, acquittances and other documents, and to do all such other acts and things, all in accordance with applicable law, as may be
necessary or appropriate (i) more fully to assure that the applicable Parties own all of the properties, rights, titles, interests, estates, remedies, powers and privileges granted by this Agreement, or which are intended to be so granted,
(ii) more fully and effectively to vest in the applicable Parties and their respective successors and assigns beneficial and record title to the interests contributed and assigned by this Agreement or intended to be so and (iii) more fully
and effectively to carry out the purposes and intent of this Agreement. 
 ARTICLE V 

EFFECTIVE TIME 

Notwithstanding anything contained in this Agreement to the contrary, none of the provisions of Article II of this Agreement shall be
operative or have any effect until the Effective Time, at which time all the provisions of Article II of this Agreement shall be effective and operative in accordance with Article VI without further action by any Party hereto. 

ARTICLE VI 

Section 6.1 Order of Completion of Transactions. The transactions provided for in Article II and Article III of this Agreement
shall each be completed immediately following the Effective Time. 
 Section 6.2 Headings; References; Interpretation. All
Article and Section headings in this Agreement are for convenience only and shall not be deemed to control or affect the meaning or construction of any of the provisions hereof. The words “hereof” and “herein” and words of
similar import, when used in this Agreement, shall refer to this Agreement as a whole, including, without limitation, all Schedules and Exhibits, if any, attached hereto, and not to any particular provision of this Agreement. All references herein
to Articles, Sections, Schedules and Exhibits shall, unless the context requires a different construction, be deemed to be references to the Articles and Sections of this Agreement and the Schedules and Exhibits attached hereto, and all such
Schedules and Exhibits attached hereto are hereby incorporated herein and made a part hereof for all purposes. All personal pronouns used in this Agreement, 

 
whether used in the masculine, feminine or neuter gender shall include all other genders, and the singular shall include the plural and vice versa. The use herein of the word
“including” following any general statement, term or matter shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters, whether
or not non-limiting language (such as “without limitation” or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters that could reasonably fall within the broadest
possible scope of such general statement, term or matter. 
 Section 6.3 Successors and Assigns. This Agreement shall be binding
upon and inure to the benefit of the Parties and their respective successors and assigns. 
 Section 6.4 No Third Party Rights.
The provisions of this Agreement are intended to bind the Parties as to each other and are not intended to and do not create rights in any other person or confer upon any other person any benefits, rights or remedies, and no person is or is intended
to be a third party beneficiary of any of the provisions of this Agreement. 
 Section 6.5 Counterparts. This Agreement may be
executed in any number of counterparts with the same effect as if all signatory Parties had signed the same document. All counterparts shall be construed together and shall constitute one and the same instrument. 

Section 6.6 Choice of Law. This Agreement shall be subject to and governed by the laws of the state of Delaware. EACH OF THE
PARTIES HERETO AGREES THAT THIS AGREEMENT INVOLVES AT LEAST U.S. $100,000 AND THAT THIS AGREEMENT HAS BEEN ENTERED INTO IN EXPRESS RELIANCE UPON 6 Del. C. § 2708. EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES (i) TO BE
SUBJECT TO THE JURISDICTION OF THE COURTS OF THE STATE OF DELAWARE AND OF THE FEDERAL COURTS SITTING IN THE STATE OF DELAWARE, AND (ii) TO THE EXTENT SUCH PARTY IS NOT OTHERWISE SUBJECT TO SERVICE OF PROCESS IN THE STATE OF DELAWARE, TO APPOINT
AND MAINTAIN AN AGENT IN THE STATE OF DELAWARE AS SUCH PARTY’S AGENT FOR ACCEPTANCE OF LEGAL PROCESS AND TO NOTIFY THE OTHER PARTIES OF THE NAME AND ADDRESS OF SUCH AGENT. 

Section 6.7 Severability. If any of the provisions of this Agreement are held by any court of competent jurisdiction to
contravene, or to be invalid under, the laws of any political body having jurisdiction over the subject matter hereof, such contravention or invalidity shall not invalidate the entire Agreement. Instead, this Agreement shall be construed as if it
did not contain the particular provisions or provisions held to be invalid and an equitable adjustment shall be made and necessary provision added so as to give effect to the intention of the Parties as expressed in this Agreement at the time of
execution of this Agreement. 
 Section 6.8 Amendment or Modification. This Agreement may be amended or modified from time to
time only by the written agreement of all the Parties. Each such instrument shall be reduced to writing and shall be designated on its face as an amendment to this Agreement. 

 Section 6.9 Integration. This Agreement and the instruments referenced herein
supersede all previous understandings or agreements among the Parties, whether oral or written, with respect to the subject matter of this Agreement and such instruments. This Agreement and such instruments contain the entire understanding of the
Parties with respect to the subject matter hereof and thereof. There are no unwritten oral agreements between the parties. No understanding, representation, promise or agreement, whether oral or written, is intended to be or shall be included in or
form part of this Agreement unless it is contained in a written amendment hereto executed by the parties hereto after the date of this Agreement. 

Section 6.10 Deed; Bill of Sale; Assignment. To the extent required and permitted by applicable law, this Agreement shall also
constitute a “deed,” “bill of sale” or “assignment” of the assets and interests referenced herein. 

[Signature Pages Follow] 

 IN WITNESS WHEREOF, the parties to this Agreement have caused it to be duly executed as of
the date first above written. 
  

			
	US DEVELOPMENT GROUP, LLC
		
	 By:
	 	  

	Name:	 	
	Title:	 	
	
	USD GROUP LLC 
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	USD PARTNERS GP LLC
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	USD PARTNERS LP 
		
	 By:
	 	 USD Partners GP LLC

its general partner

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	USD LOGISTICS OPERATIONS LP 
		
	 By:
	 	 USD Logistics Operations GP, LLC
 its general
partner

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 [Signature Page to Contribution, Conveyance and Assumption Agreement]EX-10.3

 Exhibit 10.3 

FORM OF 
 USD PARTNERS
LP 
 2014 LONG-TERM INCENTIVE PLAN 

SECTION 1. Purpose of the Plan. 

This USD Partners LP 2014 Long-Term Incentive Plan (the “Plan”) has been adopted by USD Partners GP LLC, a Delaware limited
liability company (the “Company”), the general partner of USD Partners LP, a Delaware limited partnership (the “Partnership”). The Plan is intended to promote the interests of the Partnership and the Company by
providing incentive compensation awards denominated in or based on Units to Employees, Consultants and Directors to encourage superior performance. The Plan is also intended to enhance the ability of the Partnership, the Company and their Affiliates
to attract and retain the services of individuals who are essential for the growth and profitability of the Partnership, the Company and their Affiliates and to encourage them to devote their best efforts to advancing the business of the
Partnership, the Company and their Affiliates. 
 SECTION 2. Definitions. 

As used in the Plan, the following terms shall have the meanings set forth below: 

“Affiliate” means, with respect to any Person, any other Person that directly or indirectly through one or more
intermediaries controls, is controlled by or is under common control with, the Person in question. As used herein, the term “control” means the possession, direct or indirect, of the power to direct or cause the direction of the management
and policies of a Person, whether through ownership of voting securities, by contract or otherwise. 
 “ASC Topic 718”
means Accounting Standards Codification Topic 718, Compensation – Stock Compensation, or any successor accounting standard. 

“Award” means an Option, Restricted Unit, Phantom Unit, DER, Substitute Award, Unit Appreciation Right, Unit Award or Profits
Interest Unit granted under the Plan. 
 “Award Agreement” means the written or electronic agreement by which an Award
shall be evidenced and which agreement may include a separate plan, policy, agreement or other written document. 
 “Board”
means the board of directors or board of managers, as the case may be, of the Company. 
 “Cause” means, unless otherwise
set forth in an Award Agreement or other written agreement between the Company and the applicable Participant, a finding by the Committee, before or after the Participant’s termination of Service, of: (i) any material failure by the
Participant to perform the Participant’s duties and responsibilities under any written agreement between the Participant and the Company or its Affiliate(s); (ii) any act of fraud, embezzlement, theft or misappropriation by the Participant
relating to the Company, the Partnership or any of their Affiliates; (iii) the Participant’s commission of a felony or a crime involving moral 

 
turpitude; (iv) any gross negligence or intentional misconduct on the part of the Participant in the conduct of the Participant’s duties and responsibilities with the Company or any
Affiliate(s) of the Company or which adversely affects the image, reputation or business of the Company, the Partnership or their Affiliates; or (v) any material breach by the Participant of any agreement between the Company or any of its
Affiliates, on the one hand, and the Participant on the other. The findings and decision of the Committee with respect to such matter, including those regarding the acts of the Participant and the impact thereof, will be final for all purposes. 

“Change in Control” means, and shall be deemed to have occurred upon one or more of the following events: 

(i) any “person” or “group” within the meaning of Sections 13(d) and 14(d)(2) of the Exchange Act, other
than the Company or an Affiliate of the Company (as determined immediately prior to such event), shall become the beneficial owner, by way of merger, acquisition, consolidation, recapitalization, reorganization or otherwise, of 50% or more of the
combined voting power of the equity interests in the Company or the Partnership; 
 (ii) the limited partners of the
Partnership approve, in one or a series of transactions, a plan of complete liquidation of the Partnership; 
 (iii) the sale
or other disposition by either the Company or the Partnership of all or substantially all of the Company’s or the Partnership’s assets, respectively, in one or more transactions to any Person other than the Company, the Partnership or an
Affiliate of the Company or of the Partnership; or 
 (iv) a transaction resulting in a Person other than the Company or an
Affiliate of the Company (as determined immediately prior to such event) being the sole general partner of the Partnership. 

Notwithstanding the foregoing, if a Change in Control constitutes a payment event with respect to any Award which provides for the deferral of
compensation subject to Section 409A or such compensation otherwise would be subject to Section 409A, the transaction or event described in subsection (i), (ii), (iii) or (iv) above with respect to such Award must also constitute
a “change in control event,” as defined in Treasury Regulation §1.409A-3(i)(5), and as relates to the holder of such Award, to the extent required to comply with Section 409A. 

“Code” means the Internal Revenue Code of 1986, as amended. 

“Committee” means the Board, except that it shall mean such committee of the Board as may be appointed by the Board to
administer the Plan, or as necessary to comply with applicable legal requirements or listing standards. 
 “Consultant”
means an individual who renders consulting services to the Company, the Partnership or any of their Affiliates. 

  
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 “DER” means a distribution equivalent right, representing a contingent right to
receive an amount in cash, Units, Restricted Units and/or Phantom Units equal in value to the distributions made by the Partnership with respect to a Unit during the period such Award is outstanding. 

“Director” means a member of the board of directors or board of managers, as the case may be, of the Company, the Partnership
or any of their Affiliates who is not an Employee or a Consultant (other than in that individual’s capacity as a Director). 

“Disability” means, unless otherwise set forth in an Award Agreement or other written agreement between the Company, the
Partnership or one of their Affiliates and the applicable Participant, as determined by the Committee in its discretion exercised in good faith, a physical or mental condition of a Participant that would entitle him or her to payment of disability
income payments under the Company’s, the Partnership’s or one of their Affiliates’ long-term disability insurance policy or plan, as applicable, for employees as then in effect; or in the event that a Participant is not covered, for
whatever reason, under any such long-term disability insurance policy or plan for employees of the Company, the Partnership or one of their Affiliates or the Company, the Partnership or one of their Affiliates does not maintain such a long-term
disability insurance policy, “Disability” means a total and permanent disability within the meaning of Section 22(e)(3) of the Code; provided, however, that if a Disability constitutes a payment event with respect to any Award
which provides for the deferral of compensation subject to Section 409A or such compensation otherwise would be subject to Section 409A, then, to the extent required to comply with Section 409A, the Participant must also be considered
“disabled” within the meaning of Section 409A(a)(2)(C) of the Code. A determination of Disability may be made by a physician selected or approved by the Committee and, in this respect, Participants shall submit to an examination by
such physician upon request by the Committee. 
 “Employee” means an employee of the Company, the Partnership or any of
their Affiliates. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Fair Market Value” means, as of any given date, the closing sales price on such date during normal trading hours (or, if
there are no reported sales on such date, on the last date prior to such date on which there were sales) of the Units on the New York Stock Exchange or, if not listed on such exchange, on any other national securities exchange on which the
Units are listed or on an inter-dealer quotation system, in any case, as reported in such source as the Committee shall select. If there is no regular public trading market for the Units, the Fair Market Value of the Units shall be determined by the
Committee in good faith and, to the extent applicable, in compliance with the requirements of Section 409A. 

“Option” means an option to purchase Units granted pursuant to Section 6(a) of the Plan. 

“Other Unit-Based Award” means an award granted pursuant to Section 6(f) of the Plan. 

“Participant” means an Employee, Consultant or Director granted an Award under the Plan and any authorized transferee of such
individual. 

  
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 “Partnership Agreement” means the Agreement of Limited Partnership of the
Partnership, as it may be amended or amended and restated from time to time. 
 “Person” shall have the meaning ascribed to
such term in Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof, including a “group” as defined in Section 13(d) thereof. 

“Phantom Unit” means a notional interest granted under the Plan that, to the extent vested, entitles the Participant to
receive a Unit or an amount of cash equal to the Fair Market Value of a Unit, as determined by the Committee in its discretion. 

“Profits Interest Unit” means to the extent authorized by the Partnership Agreement, an interest in the Partnership that is
intended to constitute a “profits interest” within the meaning of the Code, Treasury Regulations promulgated thereunder, and any published guidance by the Internal Revenue Service with respect thereto. 

“Restricted Period” means the period established by the Committee with respect to an Award during which the Award remains
subject to forfeiture and is either not exercisable by or payable to the Participant, as the case may be. 
 “Restricted
Unit” means a Unit granted pursuant to Section 6(b) of the Plan that is subject to a Restricted Period. 
 “Securities
Act” means the Securities Act of 1933, as amended. 
 “SEC” means the Securities and Exchange Commission, or any
successor thereto. 
 “Section 409A” means Section 409A of the Code and the Treasury Regulations and other
interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be amended or issued after the Effective Date (as defined in Section 9 below). 

“Service” means service as an Employee, Consultant or Director. The Committee, in its sole discretion, shall determine the
effect of all matters and questions relating to terminations of Service, including, without limitation, the questions of whether and when a termination of Service occurred and/or resulted from a discharge for Cause, and all questions of whether
particular changes in status or leaves of absence constitute a termination of Service. The Committee, in its sole discretion, subject to the terms of any applicable Award Agreement, may determine that a termination of Service has not occurred in the
event of (a) a termination where there is simultaneous commencement by the Participant of a relationship with the Partnership, the Company or any of their Affiliates as an Employee, Director or Consultant or (b) a termination which results
in a temporary severance of the service relationship. 
 “Substitute Award” means an award granted pursuant to
Section 6(g) of the Plan. 
 “Unit” means a Common Unit of the Partnership. 

  
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 “Unit Appreciation Right” or “UAR” means a contingent right
that entitles the holder to receive the excess of the Fair Market Value of a Unit on the exercise date of the UAR over the exercise price of the UAR. 

“Unit Award” means an award granted pursuant to Section 6(d) of the Plan. 

SECTION 3. Administration. 

(a) The Plan shall be administered by the Committee, subject to subsection (b) below; provided, however, that in the event that
the Board is not also serving as the Committee, the Board, in its sole discretion, may at any time and from time to time exercise any and all rights and duties of the Committee under the Plan. The governance of the Committee shall be subject to the
charter, if any, of the Committee as approved by the Board. Subject to the terms of the Plan and applicable law, and in addition to other express powers and authorizations conferred on the Committee by the Plan, the Committee shall have full power
and authority to: (i) designate Participants; (ii) determine the type or types of Awards to be granted to a Participant; (iii) determine the number of Units to be covered by Awards; (iv) determine the terms and conditions of any
Award; (v) determine whether, to what extent, and under what circumstances Awards may be settled, exercised, canceled, or forfeited; (vi) interpret and administer the Plan and any instrument or agreement relating to an Award made under the
Plan; (vii) establish, amend, suspend, or waive such rules and regulations and appoint such agents as it shall deem appropriate for the proper administration of the Plan; and (viii) make any other determination and take any other action
that the Committee deems necessary or desirable for the administration of the Plan. The Committee may correct any defect or supply any omission or reconcile any inconsistency in the Plan or an Award Agreement in such manner and to such extent as the
Committee deems necessary or appropriate. Unless otherwise expressly provided in the Plan, all designations, determinations, interpretations, and other decisions under or with respect to the Plan or any Award shall be within the sole discretion of
the Committee, may be made at any time and shall be final, conclusive, and binding upon all Persons, including the Company, the Partnership, any of their Affiliates, any Participant and any beneficiary of any Participant. 

(b) To the extent permitted by applicable law and the rules of any securities exchange on which the Units are listed, quoted or traded, the
Board or Committee may from time to time delegate to a committee of one or more members of the Board or one or more officers of the Company the authority to grant or amend Awards or to take other administrative actions pursuant to Section 3(a);
provided, however, that in no event shall an officer of the Company be delegated the authority to grant awards to, or amend awards held by, the following individuals: (i) individuals who are subject to Section 16 of the Exchange
Act, or (ii) officers of the Company (or Directors) to whom authority to grant or amend Awards has been delegated hereunder; provided, further, that any delegation of administrative authority shall only be permitted to the extent that it
is permissible under applicable provisions of the Code and applicable securities laws and the rules of any securities exchange on which the Units are listed, quoted or traded. Any delegation hereunder shall be subject to such restrictions and
limitations as the Board or Committee, as applicable, specifies at the time of such delegation, and the Board or Committee, as applicable, may at any time rescind the authority so delegated or appoint a new delegatee. At all times, the delegatee
appointed under this Section 3(b) shall serve in such capacity at the pleasure of the Board and the Committee. 

  
 -5- 

 SECTION 4. Units. 

(a) Limits on Units Deliverable. Subject to adjustment as provided in Section 4(c), the number of Units that may be delivered with
respect to Awards under the Plan is (            ). If any Award is forfeited, cancelled, exercised, paid, or otherwise terminates or expires without the actual delivery of Units pursuant
to such Award (for the avoidance of doubt, the grant of Restricted Units is not a delivery of Units for this purpose unless and until such Restricted Units vest and any restrictions placed upon them under the Plan lapse), the Units subject to such
Award that are not actually delivered pursuant to such Award shall again be available for Awards under the Plan. To the extent permitted by applicable law and securities exchange rules, Substitute Awards and Units issued in assumption of, or in
substitution for, any outstanding awards of any entity (including an existing Affiliate of the Partnership) that is (or whose securities are) acquired in any form by the Partnership or any Affiliate thereof shall not be counted against the Units
available for issuance pursuant to the Plan. There shall not be any limitation on the number of Awards that may be paid in cash. For the avoidance of doubt, neither the Class A Units (as defined in the Partnership Agreement) that were
previously granted to certain recipients by the Partnership nor any Units into which the Class A Units may be converted under the terms of the Partnership Agreement shall reduce the number of Units that may be granted under the Plan. 

(b) Sources of Units Deliverable Under Awards. Any Units delivered pursuant to an Award shall consist, in whole or in part, of Units
acquired in the open market, from the Partnership, any Affiliate thereof or any other Person, or Units otherwise issuable by the Partnership, or any combination of the foregoing, as determined by the Committee in its discretion. 

(c) Anti-dilution Adjustments. 

(i) Equity Restructuring. With respect to any “equity restructuring” event (within the meaning of ASC Topic 718) that could
result in an additional compensation expense to the Company or the Partnership pursuant to the provisions of ASC Topic 718 if adjustments to Awards with respect to such event were discretionary, the Committee shall equitably adjust the number and
type of Units covered by each outstanding Award and the terms and conditions, including the exercise price and performance criteria (if any), of such Award to equitably reflect such event and shall adjust the number and type of Units (or other
securities or property) with respect to which Awards may be granted under the Plan after such event. With respect to any other similar event that would not result in an ASC Topic 718 accounting charge if the adjustment to Awards with respect to such
event were subject to discretionary action, the Committee shall have complete discretion to adjust Awards and the number and type of Units (or other securities or property) with respect to which Awards may be granted under the Plan in such manner as
it deems appropriate with respect to such other event. 
 (ii) Other Changes in Capitalization. In the event of any non-cash
distribution, Unit split, combination or exchange of Units, merger, consolidation or distribution (other than normal cash distributions) of Partnership assets to unitholders, or any other change affecting the Units of the Partnership, other than an
“equity restructuring,” the Committee may make equitable adjustments, if any, to reflect such change with respect to (A) the aggregate 

  
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number and kind of Units that may be issued under the Plan; (B) the number and kind of Units (or other securities or property) subject to outstanding Awards; (C) the terms and
conditions of any outstanding Awards (including, without limitation, any applicable performance targets or criteria with respect thereto); and (D) the grant or exercise price per Unit for any outstanding Awards under the Plan. 

SECTION 5. Eligibility. 

Any Employee, Consultant or Director shall be eligible to be designated a Participant and receive an Award under the Plan. 

SECTION 6. Awards. 
 (a)
Options and UARs. The Committee shall have the authority to determine the Employees, Consultants and Directors to whom Options and/or UARs shall be granted, the number of Units to be covered by each Option or UAR, the exercise price therefor,
the Restricted Period and other conditions and limitations applicable to the exercise of the Option or UAR, including the following terms and conditions and such additional terms and conditions, as the Committee shall determine, that are not
inconsistent with the provisions of the Plan. Options which are intended to comply with Treasury Regulation Section 1.409A-1(b)(5)(i)(A) and UARs which are intended to comply with Treasury Regulation Section 1.409A-1(b)(5)(i)(B) or, in
each case, any successor regulation, may be granted only if the requirements of Treasury Regulation Section 1.409A-1(b)(5)(iii), or any successor regulation, are satisfied. Options and UARs that are otherwise exempt from or compliant with
Section 409A may be granted to any eligible Employee, Consultant or Director. 
 (i) Exercise Price. The exercise
price per Unit purchasable under an Option or subject to a UAR shall be determined by the Committee at the time the Option or UAR is granted but, except with respect to a Substitute Award, may not be less than the Fair Market Value of a Unit as of
the date of grant of the Option or UAR. 
 (ii) Time and Method of Exercise. The Committee shall determine the
exercise terms and any applicable Restricted Period with respect to an Option or UAR, which may include, without limitation, provisions for accelerated vesting upon the achievement of specified performance goals and/or other events, and the method
or methods by which payment of the exercise price with respect to an Option or UAR may be made or deemed to have been made, which may include, without limitation, cash, check acceptable to the Company, withholding Units having a Fair Market Value on
the exercise date equal to the relevant exercise price from the Award, a “cashless” exercise through procedures approved by the Company, or any combination of the foregoing methods. 

(iii) Exercise of Options and UARs on Termination of Service. Each Option and UAR Award Agreement shall set forth the
extent to which the Participant shall have the right to exercise the Option or UAR following a termination of the Participant’s Service. Unless otherwise determined by the Committee, if the Participant’s Service is terminated for Cause,
the Participant’s right to exercise the Option or UAR shall 

  
 -7- 

 
terminate as of the start of business on the effective date of the Participant’s termination. Unless otherwise determined by the Committee, to the extent the Option or UAR is not vested and
exercisable as of the termination of Service, the Option or UAR shall terminate when the Participant’s Service terminates. 

(iv) Term of Options and UARs. The term of each Option and UAR shall be stated in the Award Agreement, provided,
that the term shall be no more than ten (10) years from the date of grant thereof. 
 (b) Restricted Units and Phantom Units.
The Committee shall have the authority to determine the Employees, Consultants and Directors to whom Restricted Units and/or Phantom Units shall be granted, the number of Restricted Units or Phantom Units to be granted to each such Participant, the
applicable Restricted Period, the conditions under which the Restricted Units or Phantom Units may become vested or forfeited and such other terms and conditions, including, without limitation, restrictions on transferability, as the Committee may
establish with respect to such Awards. 
 (i) Payment of Phantom Units. The Committee shall specify, or permit the
Participant to elect in accordance with the requirements of Section 409A, the conditions and dates or events upon which the cash or Units underlying an award of Phantom Units shall be issued, which dates or events shall not be earlier than the
date on which the Phantom Units vest and become nonforfeitable and which conditions and dates or events shall be subject to compliance with Section 409A (unless the Phantom Units are exempt therefrom). 

(ii) Vesting of Restricted Units. Upon or as soon as reasonably practicable following the vesting of each Restricted
Unit, subject to satisfying the tax withholding obligations of Section 8(b), the Participant shall be entitled to have the restrictions removed from his or her Unit certificate (or book-entry account, as applicable) so that the Participant then
holds an unrestricted Unit. 
 (c) DERs. The Committee shall have the authority to determine the Employees, Consultants and/or
Directors to whom DERs are granted, whether such DERs are tandem or separate Awards, whether the DERs shall be paid directly to the Participant, be credited to a bookkeeping account (with or without interest in the discretion of the Committee), any
vesting restrictions and payment provisions applicable to the DERs, and such other provisions or restrictions as determined by the Committee in its discretion, all of which shall be specified in the applicable Award Agreements. Distributions in
respect of DERs shall be credited as of the distribution dates during the period between the date an Award is granted to a Participant and the date such Award vests, is exercised, is distributed or expires, as determined by the Committee. Such DERs
shall be converted to cash, Units, Restricted Units and/or Phantom Units by such formula and at such time and subject to such limitations as may be determined by the Committee. Tandem DERs may be subject to the same or different vesting restrictions
as the tandem Award, or be subject to such other provisions or restrictions as determined by the Committee in its discretion. Notwithstanding the foregoing, DERs shall only be paid in a manner that is either exempt from or in compliance with
Section 409A.  

  
 -8- 

 (d) Unit Awards. Awards of Units may be granted under the Plan (i) to such Employees,
Consultants and/or Directors and in such amounts as the Committee, in its discretion, may select, and (ii) subject to such other terms and conditions, including, without limitation, restrictions on transferability, as the Committee may
establish with respect to such Awards. 
 (e) Profits Interest Units. Any Award consisting of Profits Interest Units may be granted
to an Employee, Consultant or Director for the performance of services to or for the benefit of the Partnership (i) in the Participant’s capacity as a partner of the Partnership, (ii) in anticipation of the Participant becoming a
partner of the Partnership, or (iii) as otherwise determined by the Committee. At the time of grant, the Committee shall specify the date or dates on which the Profits Interest Units shall vest and become nonforfeitable, and may specify such
conditions to vesting as it deems appropriate. Profits Interest Units shall be subject to such restrictions on transferability and other restrictions as the Committee may impose. 

(f) Other Unit-Based Awards. Other Unit-Based Awards may be granted under the Plan to such Employees, Consultants and/or Directors as
the Committee, in its discretion, may select. An Other Unit-Based Award shall be an award denominated or payable in, valued in or otherwise based on or related to Units, in whole or in part. The Committee shall determine the terms and conditions of
any Other Unit-Based Award. Upon vesting, an Other Unit-Based Award may be paid in cash, Units (including Restricted Units) or any combination thereof as provided in the Award Agreement. 

(g) Substitute Awards. Awards may be granted under the Plan in substitution of similar awards held by individuals who are or who become
Employees, Consultants or Directors in connection with a merger, consolidation or acquisition by the Partnership or an Affiliate of another entity or the securities or assets of another entity (including in connection with the acquisition by the
Partnership or one of its Affiliates of additional securities of an entity that is an existing Affiliate of the Partnership). Such Substitute Awards that are Options or UARs may have exercise prices less than the Fair Market Value of a Unit on the
date of the substitution if such substitution complies with Section 409A and other applicable laws and securities exchange rules. 

(h) General. 

(i) Award Agreements. Each Award shall be evidenced in writing in an Award Agreement that shall reflect any vesting
conditions or restrictions imposed by the Committee covering a period of time specified by the Committee and shall also contain such other terms, conditions and limitations as shall be determined by the Committee in its sole discretion. Where
signature or electronic acceptance of the Award Agreement by the Participant is required, any such Awards for which the Award Agreement is not signed or electronically accepted shall be forfeited. 

(ii) Forfeitures. Except as otherwise provided in the terms of an Award Agreement, upon termination of a
Participant’s Service for any reason during an applicable Restricted Period, all outstanding, unvested Awards held by such Participant shall be automatically forfeited by the Participant. Notwithstanding the immediately 

  
 -9- 

 
preceding sentence, the Committee may, in its discretion, waive in whole or in part such forfeiture with respect to any such Award; provided, that any such waiver shall be effective only
to the extent that such waiver will not cause (i) any Award intended to satisfy the requirements of Section 409A to fail to satisfy such requirements or (ii) any Award intended to be exempt from Section 409A to become subject to
and to fail to satisfy such requirements. 
 (iii) Awards May Be Granted Separately or Together. Awards may, in the
discretion of the Committee, be granted either alone or in addition to, in tandem with, or in substitution for any other Award granted under the Plan or any award granted under any other plan of the Company or any Affiliate. Awards granted in
addition to or in tandem with other Awards or awards granted under any other plan of the Company or any Affiliate may be granted either at the same time as or at a different time from the grant of such other Awards or awards. 

(iv) Limits on Transfer of Awards. 

(A) Except as provided in paragraph (C) below, each Option and UAR shall be exercisable only by the Participant (or the
Participant’s legal representative in the case of the Participant’s Disability or incapacitation) during the Participant’s lifetime, or by the person to whom the Participant’s rights shall pass by will or the laws of descent and
distribution. 
 (B) Except as provided in paragraph (C) below, no Award and no right under any such Award may be
assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by a Participant other than by will or the laws of descent and distribution and any such purported assignment, alienation, pledge, attachment, sale, transfer or
encumbrance shall be void and unenforceable against the Company, the Partnership or any Affiliate. 
 (C) The Committee may
provide in an Award Agreement or in its discretion that an Award may, on such terms and conditions as the Committee may from time to time establish, be transferred by a Participant without consideration to any “family member” of the
Participant, as defined in the instructions to use of the Form S-8 Registration Statement under the Securities Act, as applicable, or any other transferee specifically approved by the Committee after taking into account any state, federal, local or
foreign tax and securities laws applicable to transferable Awards. In addition, vested Units may be transferred to the extent permitted by the Partnership Agreement and not otherwise prohibited by the Award Agreement or any other agreement or policy
restricting the transfer of such Units. 
 (v) Term of Awards. Subject to Section 6(a)(iv) above, the term of
each Award, if any, shall be for such period as may be determined by the Committee. 
 (vi) Unit Certificates. Unless
otherwise determined by the Committee or required by any applicable law, rule or regulation, neither the Company nor the 

  
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Partnership shall deliver to any Participant certificates evidencing Units issued in connection with any Award and instead such Units shall be recorded in the books of the Partnership (or, as
applicable, its transfer agent or equity plan administrator). All certificates for Units or other securities of the Partnership delivered under the Plan and all Units issued pursuant to book entry procedures pursuant to any Award or the exercise
thereof shall be subject to such stop-transfer orders and other restrictions as the Committee may deem advisable under the Plan or the rules, regulations, and/or other requirements of the SEC, any securities exchange upon which such Units or other
securities are then listed, and any applicable federal or state laws, and the Committee may cause a legend or legends to be inscribed on any such certificates or book entry to make appropriate reference to such restrictions. 

(vii) Consideration for Grants. To the extent permitted by applicable law, Awards may be granted for such consideration,
including services, as the Committee shall determine. 
 (viii) Delivery of Units or other Securities and Payment by
Participant of Consideration. Notwithstanding anything in the Plan or any Award Agreement to the contrary, subject to compliance with Section 409A, the Company shall not be required to issue or deliver any certificates or make any book
entries evidencing Units pursuant to the exercise or vesting of any Award, unless and until the Board or the Committee has determined, with advice of counsel, that the issuance of such Units is in compliance with all applicable laws, regulations of
governmental authorities and, if applicable, the requirements of any securities exchange on which the Units are listed or traded, and the Units are covered by an effective registration statement or applicable exemption from registration. In addition
to the terms and conditions provided herein, the Board or the Committee may require that a Participant make such reasonable covenants, agreements, and representations as the Board or the Committee, in its discretion, deems advisable in order to
comply with any such laws, regulations, or requirements. Without limiting the generality of the foregoing, the delivery of Units pursuant to the exercise or vesting of an Award may be deferred for any period during which, in the good faith
determination of the Committee, the Company is not reasonably able to obtain or deliver Units pursuant to such Award without violating applicable law or the applicable rules or regulations of any governmental agency or authority or securities
exchange. No Units or other securities shall be delivered pursuant to any Award until payment in full of any amount required to be paid pursuant to the Plan or the applicable Award Agreement (including, without limitation, any exercise price or tax
withholding) is received by the Company. 
 SECTION 7. Amendment and Termination; Certain Transactions. 

Except to the extent prohibited by applicable law: 

(a) Amendments to the Plan. Except as required by applicable law or the rules of the principal securities exchange, if any, on which
the Units are traded and subject to Section 7(b) below, the Board or the Committee may amend, alter, suspend, discontinue, or terminate the Plan in any manner at any time for any reason or for no reason without the consent of any partner,
Participant, other holder or beneficiary of an Award, or any other Person. The Board shall obtain securityholder approval of any Plan amendment to the extent necessary to comply with applicable law or securities exchange listing standards or rules.

  
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 (b) Amendments to Awards. Subject to Section 7(a) above, the Committee may waive any
conditions or rights under, amend any terms of, or alter any Award theretofore granted, provided that no change, other than pursuant to Section 7(c) below, in any Award shall materially reduce the rights or benefits of a Participant with
respect to an Award without the consent of such Participant. 
 (c) Actions Upon the Occurrence of Certain Events. Upon the
occurrence of a Change in Control, any transaction or event described in Section 4(c) above, any change in applicable laws or regulations affecting the Plan or Awards hereunder, or any change in accounting principles affecting the financial
statements of the Company or the Partnership, the Committee, in its sole discretion, without the consent of any Participant or holder of an Award, and on such terms and conditions as it deems appropriate, which need not be uniform with respect to
all Participants or all Awards, may take any one or more of the following actions: 
 (i) provide for either (A) the
termination of any Award in exchange for a payment in an amount, if any, equal to the amount that would have been attained upon the exercise of such Award or realization of the Participant’s rights under such Award (and, for the avoidance of
doubt, if as of the date of the occurrence of such transaction or event, the Committee determines in good faith that no amount would have been payable upon the exercise of such Award or realization of the Participant’s rights, then such Award
may be terminated by the Company without payment) or (B) the replacement of such Award with other rights or property selected by the Committee in its sole discretion having an aggregate value not exceeding the amount that could have been
attained upon the exercise of such Award or realization of the Participant’s rights had such Award been currently exercisable or payable or fully vested; 

(ii) provide that such Award be assumed by the successor or survivor entity, or a parent or subsidiary thereof, or be exchanged
for similar options, rights or awards covering the equity of the successor or survivor, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of equity interests and prices; 

(iii) make adjustments in the number and type of Units (or other securities or property) subject to outstanding Awards, the
number and kind of outstanding Awards, the terms and conditions of (including the exercise price), and/or the vesting and performance criteria included in, outstanding Awards; 

(iv) provide that such Award shall vest or become exercisable or payable, notwithstanding anything to the contrary in the Plan
or the applicable Award Agreement; and 
 (v) provide that the Award cannot be exercised or become payable after such event
and shall terminate upon such event. 

  
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 Notwithstanding the foregoing, (i) with respect to an above event that constitutes an “equity
restructuring” that would be subject to a compensation expense pursuant to ASC Topic 718, the provisions in Section 4(c) above shall control to the extent they are in conflict with the discretionary provisions of this Section 7,
provided, however, that nothing in this Section 7(c) or Section 4(c) above shall be construed as providing any Participant or any beneficiary of an Award any rights with respect to the “time value,” “economic
opportunity” or “intrinsic value” of an Award or limiting in any manner the Committee’s actions that may be taken with respect to an Award as set forth in this Section 7 or in Section 4(c) above; and (ii) no action
shall be taken under this Section 7 which shall cause an Award to result in taxation under Section 409A, to the extent applicable to such Award. 

SECTION 8. General Provisions. 

(a) No Rights to Award. No Person shall have any claim to be granted any Award under the Plan, and there is no obligation for
uniformity of treatment of Participants, including the treatment upon termination of Service or pursuant to Section 7(c). The terms and conditions of Awards need not be the same with respect to each recipient. 

(b) Tax Withholding. Unless other arrangements have been made that are acceptable to the Company, the Company or any Affiliate thereof
is authorized to deduct or withhold, or cause to be deducted or withheld, from any Award, from any payment due or transfer made under any Award, or from any compensation or other amount owing to a Participant the amount (in cash or Units, including
Units that would otherwise be issued pursuant to such Award or other property) of any applicable taxes payable in respect of an Award, including its grant, its exercise, the lapse of restrictions thereon, or any payment or transfer thereunder or
under the Plan, and to take such other action as may be necessary in the opinion of the Company to satisfy its withholding obligations for the payment of such taxes. In the event that Units that would otherwise be issued pursuant to an Award are
used to satisfy such withholding obligations, the number of Units which may be so withheld or surrendered shall be limited to the number of Units which have a Fair Market Value on the date of withholding equal to the aggregate amount of such
liabilities based on the minimum statutory withholding rates for federal, state, local and foreign income tax and payroll tax purposes that are applicable to such supplemental taxable income. 

(c) No Right to Employment or Services. The grant of an Award shall not be construed as giving a Participant the right to be retained
in the employ of the Company, the Partnership or any of their Affiliates, or to continue to serve as a Consultant or a Director, as applicable. Furthermore, the Company, the Partnership and/or an Affiliate thereof may at any time dismiss a
Participant from employment or consulting free from any liability or any claim under the Plan, unless otherwise expressly provided in the Plan, any Award Agreement or other written agreement between any such entity and the Participant. 

(d) No Rights as Unitholder. Except as otherwise provided herein, a Participant shall have none of the rights of a unitholder with
respect to Units covered by any Award unless and until the Participant becomes the record owner of such Units. 

  
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 (e) Section 409A. To the extent that the Committee determines that any Award granted
under the Plan is subject to Section 409A, the Award Agreement evidencing such Award shall be drafted with the intention to include the terms and conditions required by Section 409A. To the extent applicable, the Plan and Award Agreements
shall be interpreted in accordance with Section 409A. Notwithstanding any provision of the Plan to the contrary, in the event that following the Effective Date (as defined in Section 9 below), the Committee determines that any Award may be
subject to Section 409A, the Committee may adopt such amendments to the Plan and the applicable Award Agreement, adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), and/or take any other
actions that the Committee determines are necessary or appropriate to preserve the intended tax treatment of the Award, including without limitation, actions intended to (i) exempt the Award from Section 409A, or (ii) comply with the
requirements of Section 409A; provided, however, that nothing herein shall create any obligation on the part of the Committee, the Partnership, the Company or any of their Affiliates to adopt any such amendment, policy or procedure or
take any such other action, nor shall the Committee, the Partnership, the Company or any of their Affiliates have any liability for failing to do so. If any termination of Service constitutes a payment event with respect to any Award which provides
for the deferral of compensation and is subject to Section 409A, such termination of Service must also constitute a “separation from service” within the meaning of Section 409A. Notwithstanding any provision in the Plan to the
contrary, the time of payment with respect to any Award that is subject to Section 409A shall not be accelerated, except as permitted under Treasury Regulation Section 1.409A-3(j)(4). Notwithstanding any provision of this Plan to the
contrary, if a Participant is a “specified employee” within the meaning of Section 409A as of the date of such Participant’s termination of Service and the Company determines that immediate payment of any amounts or benefits
under this Plan would cause a violation of Section 409A, then any amounts or benefits which are payable under this Plan upon the Participant’s “separation from service” within the meaning of Section 409A that: (i) are
subject to the provisions of Section 409A; (ii) are not otherwise exempt under Section 409A; and (iii) would otherwise be payable during the first six-month period following such separation from service, shall be paid, without
interest, on the first business day following the earlier of: (1) the date that is six months and one day following the date of termination; or (2) the date of the Participant’s death. Each payment or amount due to a Participant under
this Plan shall be considered a separate payment, and a Participant’s entitlement to a series of payments under this Plan is to be treated as an entitlement to a series of separate payments. 

(f) Lock-Up Agreement. Each Participant shall agree, if so requested by the Company or the Partnership and any underwriter in
connection with any public offering of securities of the Partnership or any Affiliate, not to directly or indirectly offer, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option,
right or warrant for the sale of or otherwise dispose of or transfer any Units held by it for such period, not to exceed one hundred eighty (180) days following the effective date of the relevant registration statement filed under the
Securities Act in connection with such public offering, as such underwriter shall specify reasonably and in good faith. The Company or the Partnership may impose stop-transfer instructions with respect to securities subject to the foregoing
restrictions until the end of such 180-day period. Notwithstanding the foregoing, the 180-day period may be extended for up to such number of additional days as is deemed necessary by such underwriter or the Company or Partnership to continue
coverage by research analysts in accordance with FINRA Rule 2711 or any successor rule. 

  
 -14- 

 (g) Compliance with Laws. The Plan, the granting and vesting of Awards under the Plan and
the issuance and delivery of Units and the payment of money under the Plan or under Awards granted or awarded hereunder are subject to compliance with all applicable federal, state, local and foreign laws, rules and regulations (including but not
limited to state, federal and foreign securities law and margin requirements), the rules of any securities exchange or automated quotation system on which the Units are listed, quoted or traded, and to such approvals by any listing, regulatory or
governmental authority as may, in the opinion of counsel for the Company or the Partnership, be necessary or advisable in connection therewith. Any securities delivered under the Plan shall be subject to such restrictions, and the Person acquiring
such securities shall, if requested by the Company or the Partnership, provide such assurances and representations to the Company or the Partnership as the Company or the Partnership may deem necessary or desirable to assure compliance with all
applicable legal requirements. To the extent permitted by applicable law, the Plan and Awards granted or awarded hereunder shall be deemed amended to the extent necessary to conform to such laws, rules and regulations. In the event an Award is
granted to or held by a Participant who is employed or providing services outside the United States, the Committee may, in its sole discretion, modify the provisions of the Plan or of such Award as they pertain to such Participant to comply with
applicable foreign law or to recognize differences in local law, currency or tax policy. The Committee may also impose conditions on the grant, issuance, exercise, vesting, settlement or retention of Awards in order to comply with such foreign law
and/or to minimize the Company’s or the Partnership’s obligations with respect to tax equalization for Participants employed outside their home country. 

(h) Governing Law. The validity, construction, and effect of the Plan and any rules and regulations relating to the Plan shall be
determined in accordance with the laws of the State of Delaware without regard to its conflicts of laws principles. 
 (i)
Severability. If any provision of the Plan or any Award is or becomes, or is deemed to be, invalid, illegal, or unenforceable in any jurisdiction or as to any Person or Award, or would disqualify the Plan or any Award under any law deemed
applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable law or, if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the
Plan or the Award, such provision shall be stricken as to such jurisdiction, Person or Award and the remainder of the Plan and any such Award shall remain in full force and effect. 

(j) Other Laws. The Committee may refuse to issue or transfer any Units or other consideration under an Award if, in its sole
discretion, it determines that the issuance or transfer of such Units or such other consideration might violate any applicable law or regulation, the rules of the principal securities exchange on which the Units are then traded, or entitle the
Partnership or an Affiliate to recover the same under Section 16(b) of the Exchange Act, and any payment tendered to the Company by a Participant, other holder or beneficiary in connection with the exercise of such Award shall be promptly
refunded to the relevant Participant, holder or beneficiary. 
 (k) No Trust or Fund Created. Neither the Plan nor any Award shall
create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company, the Partnership or any of their Affiliates, on the one hand, and a Participant or any

  
 -15- 

 
other Person, on the other hand. To the extent that any Person acquires a right to receive payments pursuant to an Award, such right shall be no greater than the right of any general unsecured
creditor of the Partnership or any participating Affiliate of the Partnership. 
 (l) No Fractional Units. No fractional Units shall
be issued or delivered pursuant to the Plan or any Award, and the Committee shall determine whether cash, other securities, or other property shall be paid or transferred in lieu of any fractional Units or whether such fractional Units or any rights
thereto shall be canceled, terminated, or otherwise eliminated. 
 (m) Headings. Headings are given to the Sections and subsections
of the Plan solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision hereof. 

(n) No Guarantee of Tax Consequences. None of the Board, the Committee, the Company or the Partnership provides or has provided any tax
advice to any Participant or any other Person or makes or has made any assurance, commitment or guarantee that any federal, state, local or other tax treatment will (or will not) apply or be available to any Participant or other Person and assumes
no liability with respect to any tax or associated liabilities to which any Participant or other Person may be subject. 
 (o)
Clawback. To the extent required by applicable law or any applicable securities exchange listing standards, or as otherwise determined by the Committee, Awards and amounts paid or payable pursuant to or with respect to Awards shall be subject
to the provisions of any clawback policy implemented by the Company or the Partnership, which clawback policy may provide for forfeiture, repurchase and/or recoupment of Awards and amounts paid or payable pursuant to or with respect to Awards.
Notwithstanding any provision of this Plan or any Award Agreement to the contrary, the Company and the Partnership reserve the right, without the consent of any Participant, to adopt any such clawback policies and procedures, including such policies
and procedures applicable to this Plan or any Award Agreement with retroactive effect. 
 (p) Unit Retention Policy. The Committee
may provide in its sole and absolute discretion, subject to applicable law, that any Units received by a Participant in connection with an Award granted hereunder shall be subject to a unit ownership, unit retention or other policy restricting the
sale or transfer of units, as the Committee may determine to adopt, amend or terminate in its sole discretion from time to time. 
 (q)
Limitation of Liability. No member of the Board or the Committee or Employee to whom the Board or the Committee has delegated authority in accordance with the provisions of Section 3 of this Plan shall be liable for anything done or
omitted to be done by him or her by any member of the Board or the Committee or by any Employee in connection with the performance of any duties under this Plan, except for his or her own willful misconduct or as expressly provided by statute. 

(r) Facility Payment. Any amounts payable hereunder to any Person under legal disability or who, in the judgment of the Committee, is
unable to manage properly his or her financial affairs, may be paid to the legal representative of such Person, or may be applied for the benefit of such Person in any manner that the Committee may select, and the Partnership, the Company and all of
their Affiliates shall be relieved of any further liability for payment of such amounts. 

  
 -16- 

 SECTION 9. Term of the Plan. 

The Plan shall be effective on the date on which the Plan is adopted by the Board (the “Effective Date”) and shall continue
until the date terminated by the Board. However, any Award granted prior to such termination, and the authority of the Board or the Committee to amend, alter, adjust, suspend, discontinue, or terminate any such Award or to waive any conditions or
rights under such Award, shall extend beyond such termination date. 

  
 -17-

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