Document:

EX-10.2

 Exhibit 10.2 

FORM OF SERVICES AND SECONDMENT AGREEMENT 

AMONG 
 DIAMONDBACK
ENERGY, INC. 
 DIAMONDBACK E&P LLC 

RATTLER MIDSTREAM GP LLC 

RATTLER MIDSTREAM LP 

AND 
 RATTLER MIDSTREAM
OPERATING LLC 

  
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 FORM OF SERVICES AND SECONDMENT AGREEMENT 

This Services and Secondment Agreement (this “Agreement”), dated as of [•], 2019 (the “Effective
Date”), is entered into among Diamondback Energy, Inc., a Delaware corporation (“Diamondback”), Diamondback E&P LLC, a Delaware limited liability company (“E&P”), Rattler Midstream GP LLC, a
Delaware limited liability company (the “General Partner”), Rattler Midstream LP, a Delaware limited partnership (the “Partnership”) and Rattler Midstream Operating LLC, a Delaware limited liability company
(“OpCo”). Diamondback, E&P, the General Partner, the Partnership and OpCo are sometimes herein referred to individually as a “Party” and collectively as the “Parties.” 

RECITALS: 
 WHEREAS, the
General Partner is the general partner of the Partnership that through OpCo and its Subsidiaries (as defined below) is engaged in the business of crude oil gathering, metering and transportation; natural gas gathering, compression, metering and
transportation; fresh water sourcing, storage and distribution; produced water collection, cleaning, recycling and disposal; and other related assets and businesses; 

WHEREAS, Diamondback has (a) expertise in the management, construction, design, maintenance and operation of midstream infrastructure
assets, including crude oil gathering and long-haul pipelines, natural gas gathering pipelines, centralized gathering facilities, fresh water distribution and storage systems, and produced water pipelines and cleaning, recycling and disposal
facilities, (b) unique knowledge of the management, maintenance and operation of the Fasken Center in Midland, Texas (the “Fasken Center”) and (c) centralized general and administrative services that OpCo and its
affiliates have historically relied upon in connection with the ownership and operation of its assets; 
 WHEREAS, Diamondback can make
available, or cause to be made available, to the Partnership Parties (as defined below) the personnel necessary to perform (a) such management, construction, design, maintenance and operational functions with respect to assets owned by the
Midstream Group (as defined below) and (b) general and administrative services relating to operating the business of the Midstream Group; and 

WHEREAS, the Parties desire that Diamondback provide, or cause to be provided, to the Partnership Parties personnel necessary to manage,
construct, design, maintain and operate the Midstream Group’s assets, including the Fasken Center, and, in connection therewith, that Diamondback second, or cause to be seconded, certain personnel to the Partnership Parties. 

NOW THEREFORE, in consideration of the premises and the mutual covenants and agreements contained herein, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows: 

  
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 ARTICLE 1 

DEFINITIONS 
 1.1
Definitions. Capitalized terms used and not otherwise defined in this Agreement shall have the following respective meanings, unless context clearly requires otherwise: 

“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. For purposes of this Agreement, none of the Midstream Group shall be deemed to be an Affiliate of any Diamondback Entity nor shall any Diamondback
Entity be deemed to be an Affiliate of any of the Midstream Group. 
 “Agreement” shall mean this Services and Secondment
Agreement, together with all Exhibits attached hereto, as the same may be amended, supplemented or restated from time to time in accordance with the provisions hereof. 

“Allocation Percentage” has the meaning set forth in Section 3.3. 

“Benefit Plans” means any employee benefit plans and any insurance programs that Diamondback or any of the Diamondback
Entities now maintains or in the future may maintain for the benefit of the Seconded Employees or their dependents, including: deferred compensation, profit sharing, retirement, retiree medical, 401(k), cafeteria, medical, and disability plans,
workers’ compensation insurance, life insurance, accidental death and dismemberment insurance, long-term disability insurance, business travel and accident insurance, and any EAP. 

“Business Day” means Monday through Friday of each week, except that a legal holiday recognized as such by the government of
the United States of America or the State of Texas shall not be regarded as a Business Day. 
 “Control” or
“control” (including the terms “controlled” and “controlling”) 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. 
 “Diamondback” has the meaning set forth in the introductory
paragraph to this Agreement. 
 “Diamondback Entities” means Diamondback, E&P and all of their direct and indirect
Subsidiaries, other than any of the Partnership Parties. 
 “E&P” has the meaning set forth in the introductory
paragraph to this Agreement. 
 “EAP” means Employee Assistance Program. 

“Effective Date” has the meaning set forth in the introductory paragraph to this Agreement. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 

  
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 “ERISA Affiliate” means any entity that would be treated as a single
employer with Diamondback under Sections 414(b), (c) or (m) of the Code or Section 4001(b)(1) of ERISA. 
 “Fasken
Center” has the meaning set forth in the recitals to this Agreement. 
 “General Partner” has the meaning set
forth in the introductory paragraph to this Agreement; provided that such term shall include its successors and permitted assigns that are admitted to the Partnership as general partner of the Partnership, in its capacity as general partner of the
Partnership (except as the context otherwise requires). 
 “Losses” means any and all costs, expenses (including reasonable
attorneys’ fees), claims, demands, losses, liabilities, obligations, actions, lawsuits and other proceedings, judgments and awards. 

“Midstream Group” means, collectively, the Partnership, OpCo and its Subsidiaries. 

“OpCo” has the meaning set forth in the introductory paragraph to this Agreement. 

“Partnership” has the meaning set forth in the introductory paragraph to this Agreement. 

“Partnership Agreement” means the First Amended and Restated Agreement of Limited Partnership of the Partnership, dated as of
the Effective Date, as the same may be amended, supplemented or restated from time to time. 
 “Partnership Parties” means
the General Partner and the Midstream Group. 
 “Party” has the meaning set forth in the introductory paragraph to this
Agreement. 
 “Period of Secondment” has the meaning set forth in Section 2.4. 

“Person” means an individual or a corporation, firm, limited liability company, partnership, joint venture, trust,
unincorporated organization, association, government agency or political subdivision thereof or other entity. 
 “Seconded
Contractor Expenses” has the meaning set forth in Section 3.2(b). 
 “Seconded
Contractors” has the meaning set forth in Section 2.5. 
 “Seconded Employee Expenses”
has the meaning set forth in Section 3.2(a). 
 “Seconded Employees” has the meaning set forth in
Section 2.4. 
 “Seconded Person Expenses” has the meaning set forth in
Section 3.2(b). 
 “Seconded Persons” means, collectively, the Seconded Employees and the
Seconded Contractors. 

  
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 “Secondment” means each assignment of any Seconded Persons to the
Partnership Parties from Diamondback or any Diamondback Entities in accordance with the terms of this Agreement. 

“Services” has the meaning set forth in Section 2.1. 

“Services Reimbursement” has the meaning set forth in Section 3.1. 

“Subsidiary” means, with respect to any Person, (a) a corporation of which more than 50% of the voting power of shares
entitled (without regard to the occurrence of any contingency) to vote in the election of directors or other governing body of such corporation is owned, directly or indirectly, at the date of determination, by such Person, by one or more
Subsidiaries of such Person or a combination thereof, (b) a partnership (whether general or limited) in which such Person or a Subsidiary of such Person is, at the date of determination, a general partner of such partnership, but only if such
Person, directly or by one or more Subsidiaries of such Person, or a combination thereof, controls such partnership, directly or indirectly, at the date of determination or (c) any other Person in which such Person, one or more Subsidiaries of
such Person, or a combination thereof, directly or indirectly, at the date of determination, has (i) a majority ownership interest or (ii) the power to elect or direct the election of a majority of the directors or other governing body of
such Person. For purposes of this Agreement, none of the Midstream Group shall be deemed to be a Subsidiary of Diamondback nor shall Diamondback or E&P be deemed a Subsidiary of any of the Midstream Group. 

ARTICLE 2 

SECONDMENT 
 2.1
Diamondback shall provide, or cause to be provided, to the Partnership Parties the Seconded Persons to (a) perform the activities related to the Partnership Parties’ respective obligations under each of the agreements listed in Exhibit
A, (b) otherwise perform the day-to-day management of the assets of the Midstream Group and the business conducted, or to be conducted, by the Partnership
Parties described in Exhibit A, (c) to design, build, construct and otherwise install the infrastructure required by (or necessary or convenient to provide the services required under) the agreements listed in Exhibit A and
(d) perform the management, general and administrative services described in Exhibit A, to be received by the General Partner, for the benefit of the Partnership Parties, at the places of business of the General Partner ((a) through
(d) collectively referred to herein as the “Services”). 
 2.2 Subject to Diamondback’s right to be
reimbursed for such expenses in accordance with this Agreement, Diamondback shall pay (or shall cause E&P to pay) all expenses incurred by it in connection with the retention of the Seconded Persons, including, but not limited to, Seconded
Employee compensation, salaries, wages, benefit costs, overhead and administrative expenses, charged to or incurred by Diamondback or E&P, and, if applicable, social security taxes, workers compensation insurance, retirement and insurance
benefits and other such expenses. Any Seconded Employees retained by the Diamondback Entities may be union or non-union employees, and the Diamondback Entities shall have the sole right to negotiate the terms
and provisions of any labor or other agreements with the unions to which such employees belong. 

  
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 2.3 Diamondback shall provide, or cause to be provided, such suitably qualified and
experienced Seconded Persons as Diamondback is able to make available to the Partnership Parties, and the Partnership Parties shall have the right to approve such Seconded Persons. 

2.4 During the term of this Agreement, Diamondback or E&P shall second employees of the Diamondback Entities that provide the
Services to the Partnership Parties. Each employee who Diamondback or E&P seconds to the Partnership Parties shall, during the time that such employee is seconded to the Partnership Parties under this Agreement (the “Period of
Secondment”), be referred to individually herein as a “Seconded Employee” and, collectively, as the “Seconded Employees.” 

2.5 During the term of this Agreement, Diamondback shall second, or cause to be seconded, contractors of the Diamondback Entities that
provide the Services to the Partnership Parties. Each such contractor shall, during the Period of Secondment, be referred to individually herein as a “Seconded Contractor” and, collectively, as the “Seconded
Contractors,” and together with the Seconded Employees, the “Seconded Persons.” 
 2.6 The Seconded
Employees will remain at all times employees of the applicable Diamondback Entities. For the avoidance of doubt, the Parties acknowledge that Seconded Persons may, during the Period of Secondment, be called upon to perform services for both the
Partnership Parties and the Diamondback Entities. The Diamondback Entities retain the right to terminate the Secondment of any Seconded Persons for any reason at any time or to discharge the Seconded Employees with respect to their employment with
the Diamondback Entities. During the Term, the Partnership Parties shall have the right to request that Diamondback remove any individual from the roster of Seconded Employees providing Services to the Partnership Entities. Diamondback agrees that
it will remove any such individual from the status of a Seconded Employee upon written request by any Partnership Party. Diamondback shall have the sole right, with or without the consent of the Partnership Parties, to terminate the employment of
any Seconded Employee. However, the parties agree that the Partnership Parties shall have the sole right to determine the level of Services required from the Seconded Persons and its satisfaction with the performance of such Services by the Seconded
Employees in connection with the Services and that Diamondback will use commercially reasonable efforts to provide Seconded Employees in a manner consistent with the needs expressed by any Partnership Party, but at no time will any Partnership Party
have the right to terminate any Seconded Person, including any Seconded Employee’s employment by a Diamondback Entity or a Seconded Contractor’s independent contractor relationship with a Diamondback Entity. Upon the termination of the
Secondment of any Seconded Persons, such Seconded Persons will cease performing Services for the Partnership Parties. 
 (a) The Parties
agree that Diamondback and each of its Affiliates and agents shall perform the Services hereunder in the capacity of an independent contractor. The Seconded Employees shall continue to be the common law employees of the Diamondback Entities and
shall have no employment or contractual relationship with the Partnership Parties during the Term. The Partnership Parties shall not hold out the Seconded Employees as agents of Diamondback in the course of the performance by the Seconded Employees
of their duties in respect of the Services. 

  
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 (b) The Partnership Parties shall be responsible for specifying to Diamondback the day-to-day manner of operations and assignments for Seconded Employees and reviewing the work performed by the Seconded Employees to determine whether the Services rendered in
connection with the Agreement are consistent with the results to be achieved, as specified by the Partnership Parties. Nothing in this Agreement shall preclude the Partnership Parties from hiring or employing any employees during the Term of this
Agreement; provided, however, that the Diamondback Entities shall have no obligation to provide and shall not provide any employee benefits, payroll or HR Services to or with respect to any employees of the Partnership Parties. 

2.7 Each Party shall nominate a representative to act as its primary contact with respect to the provision of the Services contemplated
by this Agreement (each, a “Service Coordinator”). The initial Service Coordinators shall be [•] for Diamondback and [•] for the Partnership Entities. Unless otherwise agreed, all notices and communications relating to this
Agreement, other than those day-to-day communications and billings relating to the actual provision of the Services, shall be directed to the Service Coordinators. In
the course and scope of performing any job functions for the Partnership Parties, each Seconded Employee will report to the Diamondback management structure and the Diamondback management structure, through the Diamondback Service Coordinator will
report into the Partnership Parties’ management structure through the Partnership Parties Service Coordinator. However, Seconded Employees will be under the direct management, supervision and control of the Diamondback Entities with respect to
such Seconded Employee’s performance of the Services, with Seconded Contractors remaining at the direction of the respective contractor. No Seconded Contractors shall have the authority or apparent authority to act on behalf of any Diamondback
Entity in connection with the performance of the Services during any Period of Secondment. 
 2.8 Those Seconded Employees who serve
as supervisors or managers and who are called upon to oversee the work of other Seconded Employees providing or to otherwise provide management support on behalf of the Parties are designated by the Diamondback Entities as supervisors to act on the
behalf of the Diamondback Entities in supervising the Seconded Employees pursuant to Section 2.7 above. Any such Seconded Employee will be acting on the behalf of the Diamondback Entities when supervising the work of the
Seconded Employees or when they are otherwise providing management or executive support in connection with the Services performed on behalf of the Partnership Parties. 

2.9 Diamondback shall, or shall cause a Diamondback Entity to, obtain workers’ compensation coverage as defined and required by
law on behalf of both the Diamondback Entities and the Partnership Parties. 
 2.10 The Partnership Parties may terminate any of the
Services performed by Seconded Persons on thirty (30) days’ prior written notice to Diamondback. In the event the Partnership Parties, or any of them, terminates such Services, the Partnership Parties shall pay Diamondback the Services
Reimbursement (as defined below) for the last month (or portion thereof) in which it received such terminated Services. Upon payment thereof, the Partnership Parties shall have no further Services payment obligations to Diamondback pursuant to this
Agreement with respect to such terminated Services. 

  
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 2.11 No Partnership Party shall be deemed to be a participating employer in any
Benefit Plans during the Period of Secondment. Subject to the Partnership Parties’ reimbursement obligations hereunder, Diamondback (or another Diamondback Entity) shall remain solely responsible for all obligations and liabilities arising
under the express terms of the Benefit Plans, and the Seconded Employees will be covered under the Benefit Plans subject to and in accordance with their respective terms and conditions, as they may be amended from time to time. Diamondback and its
ERISA Affiliates may amend or terminate any Benefit Plans in whole or in part at any time (subject to the applicable provisions of any collective bargaining agreement covering Seconded Employees, if any). During the Period of Secondment, no member
of the Partnership Parties shall assume any Benefit Plans or have any obligations, liabilities or rights arising under the express terms of the Benefit Plans, in each case except for cost reimbursement pursuant to this Agreement. 

ARTICLE 3 
 EXPENSE
REIMBURSEMENT 
 3.1 The Partnership Parties shall reimburse Diamondback or E&P, as applicable, for all reimbursable expenses
under Section 3.2 incurred by the Diamondback Entities with respect to Seconded Persons, as applicable (including, where applicable, former Seconded Employees), in connection with the performance of the Services during the
preceding period (the “Services Reimbursement”). The Services Reimbursement shall be made on a monthly basis or at such other intervals as the Parties may agree from time to time. 

3.2 (a) The Services Reimbursement with respect to Seconded Employees for each period during the Period of Secondment shall include all
reasonable costs and expenses (including administrative and benefits costs) incurred for such period by Diamondback Entities for the Seconded Employees (including, where applicable, former Seconded Employees), including but not limited to the
following costs and expenses set forth below: 
  

	 	(i)	 salary, wages and cash bonuses (including payroll and withholding taxes associated therewith);

  

	 	(ii)	 amounts paid with respect any Seconded Employee’s paid leave of absence; 

 

	 	(iii)	 contributions made by or expenses incurred by a Diamondback Entity towards any Benefit Plans (including
incurred but unreported and incurred but unpaid claims incurred during the Period of Secondment and subsequent liabilities attributable to the performance of the Services incurred for such period by Diamondback Entities with respect to the Period of
Secondment); 

  

	 	(iv)	 the value of equity-related compensation granted to Seconded Employees during the Period of Secondment;

  

	 	(v)	 any other employee benefit or compensation arrangement customarily provided to all employees by Diamondback for
which Diamondback incurs costs with respect to Seconded Employees; and 

  
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	 	(vi)	 business travel expenses and other business expenses reimbursed in the normal course by Diamondback, such as
subscriptions to business- related periodicals and dues to professional business organizations. 

 The costs and expenses described in
this Section 3.2(a) are referred to as “Seconded Employee Expenses.” Where it is not reasonably practicable to determine the amount of such a cost or expense, the Partnership Parties and Diamondback shall
mutually agree on the method of determining or estimating such cost or expense. If the actual amount of any cost or expense, once known, varies from the estimate used for billing purposes hereunder, the difference, once determined, shall be
reflected as either a credit or additional charge in the next monthly invoice issued by a Diamondback Entity, or in such manner as may be otherwise agreed between Diamondback and the General Partner. Notwithstanding the foregoing, the Parties agree
that to determine the value of a Second Employee’s non-wage benefits described in subsections (iii) and (v) of this Section 3.2(a), they will apply an agreed percentage
benefit load, based on the value of employee benefits provided to all employees of the Diamondback Entities. 
 (b) The Services
Reimbursement with respect to Seconded Contractors for each period during the Period of Secondment shall include, on a pass-through basis, all costs and expenses attributable to the performance of the Services incurred for such period by Diamondback
Entities with respect to the Seconded Contractors. The costs and expenses described in this Section 3.2(b) are referred to as “Seconded Contractor Expenses,” and together with the Seconded Employee
Expenses, the “Seconded Person Expenses.” 
 3.3 With respect to those Seconded Persons who perform services for
both the Diamondback Entities and the Partnership Parties, the Parties will determine in good faith the percentage of such Seconded Person’s time spent providing services to the Partnership Parties (the “Allocation
Percentage”). For each month, or other time interval agreed to by the Parties, during the Period of Secondment, the amount of the Services Reimbursement payable by the Partnership Parties with respect to each Seconded Person shall be
calculated by multiplying the Seconded Person Expenses for such Seconded Person times the Allocation Percentage for such Seconded Person; provided, however, that travel expenses and other expenses incurred with respect to and/or reimbursable to a
Seconded Person shall be paid by the Party for whom the Seconded Person was working at the time they were incurred, except that expenses related to activities that benefit both the Partnership Parties and Diamondback Entities (e.g. some types of
training) shall be shared by the affected Parties in accordance with the Allocation Percentage (or such other allocation as may be agreed between the affected Parties). 

3.4 The Partnership Parties and Diamondback acknowledge and agree that Diamondback shall be responsible for paying the Seconded
Employee Expenses (or providing the employee benefits with respect thereto, as applicable) to the Seconded Employees and that the Diamondback Entities may be responsible for paying the Seconded Contractor Expenses to the respective contractor, but
that the Partnership Parties shall be responsible for reimbursing the Diamondback Entities for the Seconded Person Expenses (as part of the Services Reimbursement) to the extent provided under Section 3.2 of this Agreement.

  
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 3.5 This Agreement does not address the reimbursement of any costs or expenses
associated with Services other than the Services Reimbursement. To the extent that a Diamondback Entity incurs any out-of-pocket expenses (other than the Services
Reimbursement) in connection with the provision of Services, such Diamondback Entity may be entitled to reimbursement therefor under the terms of the Partnership Agreement or other documentation. 

ARTICLE 4 

ALLOCATION; RECORDS 

Diamondback will use commercially reasonable efforts to (i) establish the Allocation Percentage and to the document the basis for such
allocation and (ii) maintain a schedule reflecting the direct and indirect costs of the Seconded Person Expenses based on the Services that the Seconded Persons have provided to the Partnership Parties. The Partnership Parties will use
commercially reasonable efforts to keep and maintain books/records reflecting the hours worked in connection with each of the Seconded Persons. Each Party will have the right to audit such records maintained by the other during regular business
hours and on reasonable prior notice. 
 ARTICLE 5 

TERM 
 The term of this
Agreement will commence on the Effective Date and will continue for an initial period of fifteen (15) years (the “Initial Term”). Upon the expiration of the Initial Term, the term of this Agreement shall automatically
extend for successive one year extension terms, unless either Party provides at least thirty (30) days’ prior written notice to the other Party prior to the expiration of the Initial Term or any extension term that the Party wishes for
this Agreement to expire at the end of the Initial Term or the then-current extension term, as applicable. Upon proper notice by a Party to the other Party, in accordance with this Article 5, that the Party wishes for this Agreement to expire
on the expiration of the applicable period, this Agreement shall not automatically extend, but shall instead expire upon the expiration of the applicable period and only those provisions that, by their terms, expressly survive this Agreement shall
so survive. Notwithstanding the foregoing, the Partnership Parties may terminate this Agreement at any time upon written notice to Diamondback stating the date of termination and only those provisions that, by their terms, expressly survive this
Agreement shall so survive. 
 ARTICLE 6 

GENERAL PROVISIONS 

6.1 Entire Agreement. This Agreement constitutes the entire agreement between the Parties with respect to the subject
matter hereof and this Agreement supersedes all prior negotiations, agreements or understandings of the Parties of any nature, whether oral or written, relating thereto. 

6.2 Applicable Law. 

This Agreement shall be construed in accordance with and governed by the laws of the State of Texas, without regard to the principles of
conflicts of law. 

  
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 6.3 Amendment. This Agreement may be modified, amended or supplemented
only by written agreement executed by the Parties. 
 6.4 Waiver. Any term or provision of this Agreement may be
waived, or the time for its performance may be extended, by the Party or Parties entitled to the benefit thereof. Any such waiver shall be validly and sufficiently given for the purposes of this Agreement if, as to any Party, it is in writing signed
by an authorized representative of such Party. The failure of any Party to enforce at any time any provision of this Agreement shall not be construed to be a waiver of such provision, or in any way to affect the validity of this Agreement or any
part hereof or the right of any Party thereafter to enforce each and every such provision. No waiver of any breach of this Agreement shall be held to constitute a waiver of any other or subsequent breach. 

6.5 Severability. Whenever possible each provision and term of this Agreement will be interpreted in a manner to be
effective and valid. If any term or provision of this Agreement or the application of any such term or provision to any Person or circumstance shall be held invalid, illegal or unenforceable in any respect by a court of competent jurisdiction, the
remaining provisions hereof, or the application of such term or provision to Persons or circumstances other than those as to which it has been held invalid, illegal or unenforceable, will remain in full force and effect and will in no way be
affected, impaired or invalidated thereby. If any term or provision of this Agreement is held to be prohibited or invalid, then such term or provision will be ineffective only to the extent of such prohibition or invalidity without invalidating or
affecting in any manner whatsoever the remainder of such term or provision or the other terms and provisions of this Agreement. Upon determination that any other term or provision of this Agreement is invalid, void, illegal or unenforceable, a court
of competent jurisdiction will modify such term or provision so as to effect the original intent of the Parties as closely as possible in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the fullest extent
possible under the Law. 
 6.6 Successors and Assigns. Except as contemplated by Section 6.10, neither this
Agreement nor any of the rights or obligations hereunder shall be assigned by any of the parties hereto without the prior written consent of the other parties. Subject to the preceding sentence, this Agreement will be binding upon, inure to the
benefit of and be enforceable by the parties and their respective successors and assigns. 
 6.7 Third Party
Beneficiaries. This Agreement is binding upon and is for the benefit of the Parties hereto and their respective successors and permitted assigns. This Agreement is not made for the benefit of any Person not a party hereto, and no Person
other than the Parties hereto and their respective successors and permitted assigns will acquire or have any benefit, right, remedy or claim under or by virtue of this Agreement. In furtherance but not in limitation of the foregoing:
(i) nothing in this Agreement shall be deemed to provide any Seconded Employee or Seconded Contractor with a right to continued Secondment or employment; and (ii) nothing in this Agreement shall be deemed to constitute an amendment to any
Benefit Plans or limit in any way the right of Diamondback and/or its ERISA Affiliates to amend, modify or terminate, in whole or in part, any Benefit Plans which may be in effect from time to time. 

  
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 6.8 Notices. Any notice, statement, demand, claim, offer or other
written instrument required or permitted to be given pursuant to this Agreement shall be in writing signed by the Party giving such notice and shall be sent by email, hand messenger delivery, overnight courier service, or certified mail (receipt
requested) to each other Party at the address set forth below; provided that to be effective any such notice sent originally by email must be followed within two (2) Business Days by a copy of such notice sent by overnight courier service: 

if to a Diamondback Entity: 

Diamondback Energy, Inc. 
 500
West Texas, Suite 1200 
 Midland, Texas 

Email: RJHolder@diamondbackenergy.com 

Attention: Randall J. Holder, General Counsel 

if to a member of the Partnership Parties: 

Rattler Midstream GP LLC 
 500
West Texas, Suite 1200 
 Midland, Texas 

Email: RJHolder@diamondbackenergy.com 

Attention: Randall J. Holder, General Counsel 

Each Party shall have the right to change the place to which notices shall be sent or delivered or to specify one additional address to which
copies of notices may be sent, in either case by similar notice sent or delivered in like manner to the other Party. Without limiting any other means by which a Party may be able to prove that a notice has been received by another Party, all notices
and communications shall be deemed to have been duly given: (i) at the time delivered by hand, if personally delivered; (ii) five (5) Business Days after being deposited in the mail, postage prepaid, if mailed by first class certified
mail, receipt requested; (iii) when received, if sent by email, if received prior to 5 p.m., recipient’s time, on a Business Day, or on the next Business Day, if received later than 5 p.m., recipient’s time; and (iv) on the next
Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery. In any case hereunder in which a Party is required or permitted to respond to a notice from another Party within a specified period,
such period shall run from the date on which the notice was deemed duly given as above provided, and the response shall be considered to be timely given if given as above provided by the last day of the period provided for such response. 

6.9 Relationship of the Parties. Nothing in this Agreement will constitute the Midstream Group, Diamondback or their
respective Affiliates as members of any partnership, joint venture, association, syndicate or other entity. 
 6.10
Assignment. No Party will convey, assign or otherwise transfer either this Agreement or any of the rights, interests or obligations hereunder without the prior written consent of the other Parties hereto (in each of such Party’s
sole and absolute discretion). Any such prohibited conveyance, assignment or transfer without the prior written consent of the other Parties will be void ab initio; provided, however, that any Party may assign or convey this Agreement without the
prior written consent of any other Party to an Affiliate. 

  
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 6.11 Counterparts. This Agreement may be executed in counterparts
(which may be delivered by electronic transmission). Each counterpart when so executed and delivered shall be deemed an original, and both such counterparts taken together shall constitute one and the same instrument. 

6.12 Time of the Essence. Time is of the essence of this Agreement; provided, however, notwithstanding anything to the
contrary in this Agreement, if the time period for the performance of any covenant or obligation, satisfaction of any condition or delivery of any notice or item required under this Agreement shall expire on a day other than a Business Day, such
time period shall be extended automatically to the next Business Day. 
 6.13 Signatories Duly Authorized. Each of the
signatories to this Agreement represents that he is duly authorized to execute this Agreement on behalf of the entities for which he is signing, and that such signature is sufficient to bind the Party or other entity purportedly represented. 

(Signature page follows) 

  
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 IN WITNESS WHEREOF, the Parties have caused this Agreement to be signed by their authorized
representatives as of the date first above written. 
  

			
	DIAMONDBACK ENERGY, INC.
		
	By: 	 	 
	Name:
	Title:
	
	DIAMONDBACK E&P LLC
		
	By: 	 	 
	Name:
	Title:
	
	RATTLER MIDSTREAM GP LLC
		
	By: 	 	 
	Name:
	Title:
	
	RATTLER MIDSTREAM LP
		
	By:	 	Rattler Midstream GP LLC, its general partner
		
	By: 	 	 
	Name:
	Title:
	
	RATTLER MIDSTREAM OPERATING LLC
		
	By: 	 	 
	Name:
	Title:

 Signature Page to Services and Secondment Agreement 

 EXHIBIT A 

Services 
 The
Services include, but are not limited to: 
  

	 	•	 	 Operation of the midstream assets of the Midstream Group members in accordance with prudent industry practice
pursuant to each of the following agreements: 

  

	 	•	 	 Freshwater Purchase and Services Agreement, dated effective as of January 1, 2018 by and between E&P and
OpCo, as may be amended, supplemented, restated or otherwise modified from time to, pursuant to which OpCo, among other things, gathers, stores and distributes fresh water to Diamondback’s drilling and completion sites. 

 

	 	•	 	 Gas Gathering and Compression Agreement, dated effective as of January 1, 2018 by and between E&P and
OpCo, as may be amended, supplemented, restated or otherwise modified from time to time, pursuant to which OpCo, among other things, services the production of natural gas from Diamondback’s Utah field within the Permian; 

 

	 	•	 	 Amended and Restated Crude Oil Gathering Agreement, dated effective as of January 1, 2018 by and between
E&P and OpCo, as may be amended, supplemented, restated or otherwise modified from time to time, pursuant to which pursuant to which OpCo, among other things, gathers crude oil from Diamondback’s Spanish Trail, Utah and Reward fields within
the Permian; and 

  

	 	•	 	 Amended and Restated Produced and Flowback Water Gathering and Disposal Agreement, dated effective as of
January 1, 2018 by and between E&P and OpCo, as may be amended, supplemented, restated or otherwise modified from time to time, pursuant to which OpCo, among other things, gathers and disposes of saltwater from operations throughtout
Diamondback’s Permian acreage. 

  

	 	•	 	 Operation, management and maintenance of the Fasken Center in accordance with prudent industry practice.

  

	 	•	 	 Such other operational functions that are necessary to develop and execute the operational aspects of the
business of the Partnership Parties. 

  
 A-1 

	 	•	 	 Payroll and billing services, including payment of compensation for the services of and, as applicable, the
provision of employee benefits to Seconded Persons. 

  

	 	•	 	 Management, general and administrative services, such as: 

 

	 	•	 	 billing, accounting, tax and internal audit; 

 

	 	•	 	 treasury, cash management and banking; 

 

	 	•	 	 investor relations; 

  

	 	•	 	 business development; 

  

	 	•	 	 executive services; 

  

	 	•	 	 human resources, including Benefit Plan reporting; 

 

	 	•	 	 public company reporting; and 

 

	 	•	 	 in-house legal services, risk management and regulatory compliance.

  

	 	•	 	 Such other management, general and administrative functions that are necessary to support the business of the
Partnership Parties. 

  
 A-2EX-10.9

 Exhibit 10.9 

FORM OF EXCHANGE AGREEMENT 

BY AND AMONG 

DIAMONDBACK ENERGY, INC. 

RATTLER MIDSTREAM OPERATING LLC 

RATTLER MIDSTREAM GP LLC 

AND 
 RATTLER MIDSTREAM
LP 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I DEFINITIONS
	  	 	1	 
			
	 Section 1.1
	 	 Definitions
	  	 	1	 
			
	 Section 1.2
	 	 Gender
	  	 	4	 
		
	 ARTICLE II EXCHANGE
	  	 	4	 
			
	 Section 2.1
	 	 Redemption and Purchase Rights
	  	 	4	 
			
	 Section 2.2
	 	 Expiration
	  	 	7	 
			
	 Section 2.3
	 	 Adjustment
	  	 	7	 
		
	 ARTICLE III MISCELLANEOUS PROVISIONS
	  	 	7	 
			
	 Section 3.1
	 	 Notices
	  	 	7	 
			
	 Section 3.2
	 	 Time is of the Essence
	  	 	8	 
			
	 Section 3.3
	 	 Assignment
	  	 	9	 
			
	 Section 3.4
	 	 Parties in Interest
	  	 	9	 
			
	 Section 3.5
	 	 Captions
	  	 	9	 
			
	 Section 3.6
	 	 Severability
	  	 	9	 
			
	 Section 3.7
	 	 Applicable Law; Forum; Venue and Jurisdiction; Waiver of Trial by Jury
	  	 	9	 
			
	 Section 3.8
	 	 Entire Agreement
	  	 	10	 
			
	 Section 3.9
	 	 Amendment
	  	 	10	 
			
	 Section 3.10
	 	 Successors and Assigns
	  	 	10	 
			
	 Section 3.11
	 	 Counterparts
	  	 	11	 
			
	 Section 3.12
	 	 Tax Matters
	  	 	11	 

  
 i 

 FORM OF EXCHANGE AGREEMENT 

This Exchange Agreement (this “Agreement”), dated as of
             ,     2019, by and among Rattler Midstream LP, a Delaware limited partnership (the “Partnership”), Rattler Midstream GP LLC, a
Delaware limited liability company (the “General Partner”), Rattler Midstream Operating LLC, a Delaware limited liability company (the “Operating Company”), and Diamondback Energy, Inc., a Delaware
corporation (the “Sponsor”). The above-named entities are sometimes referred to in this Agreement as a “Party” and collectively as the “Parties.” 

RECITALS 
 WHEREAS, the
Parties hereto desire to provide for the possible future exchange by the Sponsor of OpCo Units (as defined herein) and Class B Units (as defined herein) for Common Units (as defined herein) or cash, on the terms and subject to the conditions
set forth herein; and 
 WHEREAS, the Parties intend that an Exchange (as defined herein) consummated hereunder be treated for federal
income tax purposes, to the extent permitted by law, as a taxable exchange of OpCo Units and Class B Units by the Sponsor. 
 NOW,
THEREFORE, in consideration of the mutual covenants and undertakings contained herein and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 

ARTICLE I 

DEFINITIONS 

Section 1.1    Definitions. Capitalized terms used herein but not defined shall have the meanings
ascribed to them in the Partnership Agreement (as defined below). As used in this Agreement, the following terms shall have the following meanings: 

“Agreement” has the meaning set forth in the preamble to this Agreement. 

“Assignee” means a Person to whom a Membership Interest has been transferred in accordance with the OpCo
Limited Liability Company Agreement but who has not become a Member. 
 “Applicable Percentage” has
the meaning set forth in Section 2.1(b). 
 “Business Day” means Monday
through Friday of each Week, except that a legal holiday recognized as such by the government of the United States of America or the State of Texas shall not be regarded as a Business Day. 

“Cash Amount” means an amount of cash equal to (i) the number of Tendered Units multiplied by
(ii) the Current Market Price as of the date of determination. 
 “Cash Purchase Price” has the
meaning set forth in Section 2.1(b). 
 “Class B Units”
has the meaning set forth in the Partnership Agreement. 

  
 1 

 “Closing Price” means, as of the date of determination, the last
sale price on such day, regular way, or in case no such sale takes place on such day, the average of the closing bid and asked prices on such day, regular way, in either case as reported in the principal consolidated transaction reporting system
with respect to securities listed or admitted to trading on the principal National Securities Exchange on which the Common Units are listed or admitted to trading. 

“Code” means the U.S. Internal Revenue Code of 1986, as amended and in effect from time to time. Any reference
herein to a specific section or sections of the Code shall be deemed to include a reference to any corresponding provision of any successor law. 

“Commission” means the U.S. Securities and Exchange Commission. 

“Common Unit Amount” means a number of Common Units equal to the number of Tendered Units. 

“Common Units” has the meaning set forth in the Partnership Agreement. 

“Conflicts Committee” has the meaning set forth in the Partnership Agreement. 

“Current Market Price” means, as of the date of determination, the average of the daily Closing Prices
per Common Unit for the 20 consecutive Trading Days immediately prior to such date. 

“Cut-Off Date” means the fifth (5th) Business Day after the Partnership’s receipt of a Notice of Redemption. 

“Delaware LLC Act” means the Delaware Limited Liability Company Act, 6 Del. C. Section 18-101, et seq., as amended, supplemented or restated from time to time, and any successor to such statute. 

“Delaware LP Act” means the Delaware Revised Uniform Limited Partnership Act, 6 Del C. Section 17-101, et seq., as amended, supplemented or restated from time to time, and any successor to such statute. 

“Exchange” means (i) a Redemption by the Partnership of one or more OpCo Units for Common Units and the
Redemption Amount and (ii) the purchase of Tendered Units by the Partnership from the Sponsor for the Cash Purchase Price and the Redemption Amount. 

“Exchange Right” means the rights of the Sponsor and the Partnership pursuant to Sections
2.1(a) and (b), respectively, of this Agreement. 
 “Exercise Notice” has the
meaning set forth in Section 2.1(c). 
 “Financing Party” means any and all
Persons, or the agents or trustees representing them, providing senior or subordinated debt or tax equity financing or refinancing (including letters of credit, bank guaranties or other credit support). 

“General Partner” has the meaning set forth in the preamble to this Agreement. 

  
 2 

 “Governmental Entity” means any
(a) multinational, federal, national, provincial, territorial, state, regional, municipal, local or other government, governmental or public department, central bank, court, tribunal, arbitral body, commission, administrative agency, board,
bureau, agency or other statutory body, domestic or foreign, (b) subdivision, agent, commission, board or authority of any of the foregoing, or (c) quasi-governmental or private body exercising any regulatory, expropriation or taxing
authority under, or for the account of, any of the foregoing (including the New York Stock Exchange and NASDAQ Stock Market), in each case, that has jurisdiction or authority with respect to the applicable Party. 

“Holder” means either (a) a Member or (b) an Assignee that owns an OpCo Unit. 

“Laws” means any and all applicable (a) laws, constitutions, treaties, statutes, codes, ordinances,
principles of common law and equity, rules, regulations and municipal bylaws whether domestic, foreign or international, (b) judicial, arbitral, administrative, ministerial, departmental and regulatory judgments, orders, writs, injunctions,
decisions and awards of any Governmental Entity, and (c) policies, practices and guidelines of any Governmental Entity which, although not actually having the force of law, are considered by such Governmental Entity as requiring compliance as
if having the force of law, and the term “applicable,” with respect to such Laws and in the context that refers to one or more Persons, means such Laws that apply to such Person or Persons or its or their
business, undertaking, property or securities at the relevant time and that emanate from a Governmental Entity having jurisdiction over the Person or Persons or its or their business, undertaking, property or securities. 

“Member” has the meaning set forth in the OpCo Limited Liability Company Agreement. 

“Membership Interest” has the meaning set forth in the OpCo Limited Liability Company Agreement. 

“National Securities Exchange” means an exchange registered with the Commission under Section 6(a) of the
Securities Exchange Act (or any successor to such Section) and any other securities exchange (whether or not registered with the Commission under Section 6(a) of the Securities Exchange Act (or successor to such Section)) that the General
Partner shall designate as a National Securities Exchange for purposes of this Agreement. 
 “Notice of
Redemption” has the meaning set forth in Section 2.1(a)(i). 
 “OpCo Limited
Liability Company Agreement” means the First Amended and Restated Limited Liability Company Agreement of the Operating Company, dated
                    , 2019, as may be amended from time to time. 

“OpCo Units” has the meaning set forth in the Partnership Agreement. 

“Operating Company” has the meaning set forth in the preamble to this Agreement. 

“Partnership” has the meaning set forth in the preamble to this Agreement. 

“Partnership Agreement” means the First Amended and Restated Agreement of Limited Partnership of Rattler
Midstream LP, dated                      , 2019, as may be amended from time to time. 

  
 3 

 “Party” or “Parties”
has the meaning set forth in the preamble to this Agreement. 
 “Person” means an individual or a
corporation, firm, limited liability company, partnership, joint venture, trust, unincorporated organization, association, government agency or political subdivision thereof or other entity. 

“Redemption” has the meaning set forth in Section 2.1(a). 

“Redemption Amount” means an amount equal to the product of the number of Tendered Units multiplied by the
Class B Capital Contribution Per Unit Amount (as defined in the Partnership Agreement). 
 “Securities Act”
means the Securities Act of 1933, as amended, supplemented or restated from time to time, and any successor to such statute. 

“Securities Exchange Act” means the Securities Exchange Act of 1934, as amended, supplemented or restated from
time to time, and any successor to such statute. 
 “Specified Redemption Date” means the fifteenth (15th) Business Day after the receipt by the Operating Company of a Notice of Redemption (or an election to receive the Common Unit Amount and the Redemption Amount in respect of Tendered Units) or as
otherwise agreed to in writing by the parties hereto. 
 “Sponsor” has the meaning set forth in the
preamble to this Agreement and, where applicable, includes a transferee of Class B Units and OpCo Units as permitted under the Partnership Agreement. 

“Tendered Units” has the meaning set forth in Section 2.1(a). 

“Trading Day” means a day on which the principal National Securities Exchange on which the Common Units are
listed or admitted to trading is open for the transaction of business. 
 “Treasury Regulations” means the
United States Treasury regulations promulgated under the Code. 
 “Unit” has the meaning set forth in
Section 2.1(a). 
 Section 1.2    Gender. For the purposes of this
Agreement, the words “it,” “he,” “his” or “himself’ shall be interpreted to include the masculine, feminine and corporate, other entity or trust form. 

ARTICLE II 

EXCHANGE 

Section 2.1    Redemption and Purchase Rights. 

(a)    Subject to Section 4.4(b) of the OpCo Limited Liability Company Agreement, the Sponsor shall have the right,
at any time and from time to time (subject to the terms and conditions set forth herein), to require the Partnership to redeem (each, a “Redemption”) all or a portion of the Class B Units held by the Sponsor, which
must be 

  
 4 

 
accompanied by an equal number of OpCo Units held by the Sponsor (one OpCo Unit and one Class B Unit are referred to herein as one “Unit”, and Units that have in fact
been tendered for redemption being hereafter referred to as “Tendered Units”), in exchange for the Common Unit Amount and the Redemption Amount. The Partnership shall deliver to the Sponsor the Redemption Amount on the same
date that it delivers the Common Unit Amount. 
 (i)    If the Sponsor desires to exercise its right to
require a Redemption, it shall deliver a written notice to the Partnership and the Operating Company specifying the number of Units the Sponsor desires to tender for redemption (the “Notice of Redemption”). The
Partnership shall not be obligated to effect a Redemption until the Specified Redemption Date (it being understood that the Partnership will not be required to consummate such Redemption with respect to any Tendered Units that are purchased by the
Partnership pursuant to Section 2.1(b)). 
 (ii)    The Common Unit Amount
shall be delivered by the Partnership on or before the Specified Redemption Date as duly authorized, validly issued, fully paid and non-assessable Common Units (except as such nonassessability may be affected
by Sections 17-303, 17-607 or 18-704 of the Delaware LP Act), free of any pledge, lien, encumbrance or restriction, other than the restrictions provided in the
Partnership Agreement, the Securities Act and relevant state securities or “blue sky” laws. Notwithstanding any delay in such delivery, the Sponsor shall be deemed the owner of such Common Units for all purposes, including,
without limitation, rights to vote and consent, receive distributions, and exercise rights, as of the Specified Redemption Date. Common Units issued upon a Redemption pursuant to this Section 2.1(a) may contain such legends
regarding restrictions under the Securities Act and applicable state securities laws as the Partnership in good faith determines to be necessary or advisable in order to ensure compliance with such laws. 

(b)    In lieu of any Redemption described in Section 2.1(a), the Partnership may, in its sole
and absolute discretion (but subject to the approval of the Conflicts Committee), offer to purchase some or all of the Tendered Units (such amount, expressed as a percentage of the total number of Tendered Units rounded up to the nearest Unit, being
referred to as the “Applicable Percentage”) from the Sponsor by delivering a written notice of such election on or before the close of business on the Cut-Off Date. If the Sponsor
accepts such offer in writing, on the Specified Redemption Date the Sponsor shall sell such number of the Tendered Units to the Partnership in exchange for a cash sum (the “Cash Purchase Price”) equal to (x) the
Redemption Amount plus (y) the product of the Cash Amount and the Applicable Percentage. If the Partnership offers, subject to the approval of the Conflicts Committee, to purchase some or all of the Tendered Units and the Sponsor accepts such
offer: 
 (i)    the Cash Purchase Price shall be delivered, in the Sponsor’s sole and absolute
discretion, by wire transfer or as a certified or bank check payable to the Sponsor, in each case in immediately available funds and on or before the Specified Redemption Date; and 

(ii)    the remaining Tendered Units shall be subject to Redemption pursuant to
Section 2.1(a). 
 (c)    In the event the Partnership elects to exercise its offer rights
pursuant to Section 2.1(b), the Partnership shall provide a written notice to that effect (an “Exercise  

  
 5 

 
Notice”) to the Operating Company and the Sponsor on or before the close of business on the Cut-Off Date. The failure of the Partnership
to provide an Exercise Notice by the close of business on the Cut-Off Date shall be deemed to be an election by the Partnership not to make an offer to purchase any of the Tendered Units. The Sponsor shall
have five (5) Business Days after receipt of the Exercise Notice to give written notice of acceptance. 

(d)    Without limiting the remedies of the Sponsor, if the Partnership offers to purchase some or all of the Tendered
Units under Section 2.1(b) for the Cash Purchase Price and the Sponsor accepts, and the Cash Purchase Price is not paid on or before the Specified Redemption Date, interest shall accrue with respect to the Cash Purchase
Price from the day after the Specified Redemption Date to and including the date on which the Cash Purchase Price is paid at a rate equal to the Applicable Federal Short-Term Rate as published monthly by the United States Internal Revenue Service.

 (e)    Notwithstanding anything herein to the contrary, with respect to any Redemption pursuant to
Section 2.1(a), or any purchase of Units by the Partnership pursuant to Section 2.1(b) hereof: 

(i)            Without the consent of the Partnership, the Sponsor
may not effect a Redemption for (A) less than              Units or (B) if the Sponsor holds less than Units, all of the Units held by the Sponsor. 

(ii)    If (A) the Sponsor surrenders Tendered Units during the period after the Record Date with
respect to a distribution payable to Holders of OpCo Units, and before the record date established by the Partnership for a distribution to its unitholders of some or all of its portion of such Operating Company distribution, and (B) the
Partnership elects to purchase any of such Tendered Units pursuant to Section 2.1(b), then the Sponsor shall pay to the Partnership on the Specified Redemption Date an amount in cash equal to the Operating Company
distribution paid or payable in respect of such Tendered Units. 
 (iii)    Notwithstanding anything to
the contrary herein, the consummation of a Redemption pursuant to Section 2.1(a) hereof or a purchase of Tendered Units by the Partnership pursuant to Section 2.1(b) hereof, as the case may be,
shall not be permitted to the extent the Partnership determines that such Redemption or purchase (A) would be prohibited by applicable law or regulation (including, without limitation, the Securities Act, the Delaware LLC Act or the Delaware LP
Act) or (B) would not be permitted under the Partnership Agreement, the OpCo Limited Liability Company Agreement or any other agreements to which the Partnership or the Operating Company may be party or any written policies of the Partnership
related to unlawful or improper trading (including, without limitation, the policies of the Partnership relating to insider trading). 

(f)    The Partnership, the Operating Company and the Sponsor shall bear their own expenses in connection with the
consummation of any Exchange, whether or not any such Exchange is ultimately consummated, except that the Operating Company shall bear any transfer taxes, stamp taxes or duties, or other similar taxes in connection with, or arising by reason of, any
Exchange; provided, however, that if any Common Units are to be delivered in a name other than that of the Sponsor, then the Sponsor and/or the person in whose name such shares are to be delivered shall pay to the Operating Company the
amount of any transfer taxes, stamp taxes or duties, or other similar taxes in connection with, or arising by reason of, such Exchange or shall establish to the reasonable satisfaction of the Partnership that such tax has been paid or is not
payable. 

  
 6 

 Section 2.2    Expiration. In the event that the
Operating Company is dissolved pursuant to the OpCo Limited Liability Company Agreement, any Exchange Right pursuant to Section 2.1 of this Agreement shall terminate upon final distribution of the assets of the Operating Company pursuant
to the terms and conditions of the OpCo Limited Liability Company Agreement. 

Section 2.3    Adjustment. If there is any reclassification, reorganization, recapitalization or other
similar transaction in which the OpCo Units, Common Units or Class B Units, as applicable, are converted or changed into another security, securities or other property, then upon any subsequent Exchange, the Sponsor shall be entitled to receive
the amount of such security, securities or other property that the Sponsor would have received if such Exchange had occurred immediately prior to the effective date of such reclassification, reorganization, recapitalization or other similar
transaction, taking into account any adjustment as a result of any subdivision (by any split, distribution or dividend, reclassification, reorganization, recapitalization or otherwise) or combination (by reverse split, reclassification,
recapitalization or otherwise) of such security, securities or other property that occurs after the effective time of such reclassification, reorganization, recapitalization or other similar transaction. For the avoidance of doubt, if there is any
reclassification, reorganization, recapitalization or other similar transaction in which the OpCo Units, Common Units or Class B Units, as applicable, are converted or changed into another security, securities or other property, this
Section 2.3 shall continue to be applicable, mutatis mutandis, with respect to such security or other property. This Agreement shall apply to, mutatis mutandis, and all references to “OpCo Units,” “Common
Units” or “Class B Units” shall be deemed to include, any security, securities or other property of the Operating Company or the Partnership, as applicable, which may be issued in respect of, in exchange for or in substitution of
the OpCo Units, Common Units or Class B Units, as applicable, by reason of any distribution or dividend, split, reverse split, combination, reclassification, reorganization, recapitalization, merger, exchange (other than an Exchange) or other
transaction. 
 ARTICLE III 

MISCELLANEOUS PROVISIONS 

Section 3.1    Notices. Any notice, statement, demand, claim, offer or other written instrument
required or permitted to be given pursuant to this Agreement shall be in writing signed by the Party giving such notice and shall be sent by email, hand messenger delivery, overnight courier service, or certified mail (receipt requested) to each
other Party at the address set forth below; provided that to be effective any such notice sent originally by email must be followed within two (2) Business Days by a copy of such notice sent by overnight courier service: 

  
 7 

 If to the Partnership: 

Rattler Midstream LP 
 500 West
Texas, Suite 1200 
 Midland, Texas 

Email: RJHolder@diamondbackenergy.com 

Attention: Randall J. Holder, General Counsel 

If to the Sponsor: 
 Diamondback
Energy, Inc. 
 500 West Texas, Suite 1200 

Midland, Texas 
 Email:
RJHolder@diamondbackenergy.com 
 Attention: Randall J. Holder, General Counsel 

If to the General Partner: 

Rattler Midstream GP LLC 
 500
West Texas, Suite 1200 
 Midland, TexasEmail: RJHolder@diamondbackenergy.com 

Attention: Randall J. Holder, General Counsel 

If to the Operating Company: 

Rattler Midstream Operating LLC 

500 West Texas, Suite 1200 

Midland, Texas 
 Email:
RJHolder@diamondbackenergy.com 
 Attention: Randall J. Holder, General Counsel 

Each Party shall have the right to change the place to which notices shall be sent or delivered or to specify one additional address to which
copies of notices may be sent, in either case by similar notice sent or delivered in like manner to the other Party. Without limiting any other means by which a Party may be able to prove that a notice has been received by another Party, all notices
and communications shall be deemed to have been duly given: (i) at the time delivered by hand, if personally delivered; (ii) five (5) Business Days after being deposited in the mail, postage prepaid, if mailed by first class certified
mail, receipt requested; (iii) when received, if sent by email, if received prior to 5 p.m., recipient’s time, on a Business Day, or on the next Business Day, if received later than 5 p.m., recipient’s time; and (iv) on the next
Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery. In any case hereunder in which a Party is required or permitted to respond to a notice from another Party within a specified period,
such period shall run from the date on which the notice was deemed duly given as above provided, and the response shall be considered to be timely given if given as above provided by the last day of the period provided for such response. 

Section 3.2    Time is of the Essence. Time is of the essence of this Agreement; provided,
however, notwithstanding anything to the contrary in this Agreement, if the time period for the performance of any covenant or obligation, satisfaction of any condition or delivery of any notice or item required under this Agreement shall
expire on a day other than a Business Day, such time period shall be extended automatically to the next Business Day. 

  
 8 

 Section 3.3    Assignment. No Party will convey,
assign or otherwise transfer either this Agreement or any of the rights, interests or obligations hereunder without the prior written consent of the other Parties hereto (in each of such Party’s sole and absolute discretion). Any such
prohibited conveyance, assignment or transfer without the prior written consent of the other Parties will be void ab initio. Notwithstanding the foregoing, nothing contained in this Agreement shall preclude (i) any pledge, hypothecation
or other transfer or assignment of a Party’s rights, title and interest under this Agreement, including any amounts payable to such Party under this Agreement, to a bona fide Financing Party as security for debt financing to such Party
or one of its Affiliates, or (ii) the assignment of such rights, title and interest under this Agreement upon exercise of remedies by a Financing Party following a default by such Party or one of its Affiliates under the financing agreements
entered into with the Financing Parties. 
 Section 3.4    Parties in Interest. This Agreement is
binding upon and is for the benefit of the Parties hereto and their respective successors and permitted assigns. This Agreement is not made for the benefit of any Person not a party hereto, and no Person other than the Parties hereto and their
respective successors and permitted assigns will acquire or have any benefit, right, remedy or claim under or by virtue of this Agreement. 

Section 3.5    Captions. All Section titles or captions contained in this Agreement or in the
table of contents of this Agreement are for convenience only and shall not be deemed to be a part of this Agreement or affect the meaning or interpretation of this Agreement. 

Section 3.6    Severability. Whenever possible each provision and term of this Agreement will be
interpreted in a manner to be effective and valid. If any term or provision of this Agreement or the application of any such term or provision to any Person or circumstance shall be held invalid, illegal or unenforceable in any respect by a court of
competent jurisdiction, the remaining provisions hereof, or the application of such term or provision to Persons or circumstances other than those as to which it has been held invalid, illegal or unenforceable, will remain in full force and effect
and will in no way be affected, impaired or invalidated thereby. If any term or provision of this Agreement is held to be prohibited or invalid, then such term or provision will be ineffective only to the extent of such prohibition or invalidity
without invalidating or affecting in any manner whatsoever the remainder of such term or provision or the other terms and provisions of this Agreement. Upon determination that any other term or provision of this Agreement is invalid, void, illegal
or unenforceable, a court of competent jurisdiction will modify such term or provision so as to effect the original intent of the Parties as closely as possible in an acceptable manner to the end that the transactions contemplated hereby are
fulfilled to the fullest extent possible under the Law. 
 Section 3.7    Applicable Law; Forum; Venue and
Jurisdiction; Waiver of Trial by Jury. 
 (a)    This Agreement shall be construed in accordance with and governed
by the laws of the State of Delaware, without regard to the principles of conflicts of law. 

  
 9 

 (b)    Each of the Parties: 

(i)    irrevocably agrees that any claims, suits, actions or proceedings arising out of or relating in any
way to this Agreement (including any claims, suits or actions to interpret, apply or enforce the provisions of this Agreement or the duties, obligations or liabilities among the Parties, or the rights or powers of, or restrictions on, the Parties)
shall be exclusively brought in the Court of Chancery of the State of Delaware (or, if such court does not have subject matter jurisdiction thereof, any other court located in the State of Delaware with subject matter jurisdiction), in each case
regardless of whether such claims, suits, actions or proceedings sound in contract, tort, fraud or otherwise, are based on common law, statutory, equitable, legal or other grounds, or are derivative or direct claims; 

(ii)    irrevocably submits to the exclusive jurisdiction of the Court of Chancery of the State of Delaware
(or, if such court does not have subject matter jurisdiction thereof, any other court located in the State of Delaware with subject matter jurisdiction) in connection with any such claim, suit, action or proceeding; 

(iii)    agrees not to, and waives any right to, assert in any such claim, suit, action or proceeding that
(A) it is not personally subject to the jurisdiction of the Court of Chancery of the State of Delaware or of any other court to which proceedings in the Court of Chancery of the State of Delaware may be appealed, (B) such claim, suit,
action or proceeding is brought in an inconvenient forum, or (C) the venue of such claim, suit, action or proceeding is improper; 

(iv)    expressly waives any requirement for the posting of a bond by a party bringing such claim, suit,
action or proceeding; 
 (v)    consents to process being served in any such claim, suit, action or
proceeding by mailing, certified mail, return receipt requested, a copy thereof to such party at the address in effect for notices hereunder, and agrees that such services shall constitute good and sufficient service of process and notice thereof;
provided, nothing in this clause (v) shall affect or limit any right to serve process in any other manner permitted by law; and 

(vi)    IRREVOCABLY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY SUCH CLAIM, SUIT, ACTION OR PROCEEDING. 

Section 3.8    Entire Agreement. This Agreement constitutes the entire agreement between the Parties
with respect to the subject matter hereof and this Agreement supersedes all prior negotiations, agreements or understandings of the Parties of any nature, whether oral or written, relating thereto. 

Section 3.9    Amendment. This Agreement may be modified, amended or supplemented only by written
agreement executed by the Parties. 
 Section 3.10    Successors and Assigns. Except as contemplated
by Section 3.3, neither this Agreement nor any of the rights or obligations hereunder shall be assigned by any of the parties hereto without the prior written consent of the other parties. Subject to the preceding sentence,
this Agreement will be binding upon, inure to the benefit of and be enforceable by the parties and their respective successors and assigns. 

  
 10 

 Section 3.11    Counterparts. This Agreement may be executed
in counterparts (which may be delivered by electronic transmission). Each counterpart when so executed and delivered shall be deemed an original, and both such counterparts taken together shall constitute one and the same instrument. 

Section 3.12    Tax Matters 

(a)    If the Partnership or the Operating Company shall be required to withhold any amounts by reason of any federal,
state, local or foreign tax rules or regulations in respect of any Exchange, the Partnership or the Operating Company, as the case may be, shall be entitled to take such action as it deems appropriate in order to ensure compliance with such
withholding requirements, including, without limitation, at its option withholding from, and paying over to the appropriate taxing authority, any consideration otherwise payable to the Sponsor under this Agreement, and any such withheld amounts
shall be treated for all purposes of this Agreement as having been paid to the person in respect of which such deduction and withholding was made. Notwithstanding anything to the contrary herein, each of the Partnership and the Operating Company
may, at its own discretion, require as a condition to the effectiveness of an Exchange that an exchanging holder of Tendered Units deliver to the Partnership or the Operating Company, as the case may be, a certification of non-foreign status in accordance with Treasury Regulation Section 1.1445-2(b). 

(b)    This Agreement shall be treated as part of the OpCo Limited Liability Company Agreement as described in
Section 761(c) of the Code and Sections 1.704-1(b)(2)(ii)(h) and 1.761-1(c) of the Treasury Regulations. 

[Signature Page Follows.] 

  
 11 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed and
delivered, all as of the date first set forth above. 
  

			
	Rattler Midstream GP LLC
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	Rattler Midstream LP
		
	By:	 	Rattler Midstream GP LLC, its general partner
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	Rattler Midstream Operating LLC
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	Diamondback Energy, Inc.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 [Signature Page to Exchange Agreement]

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