Document:

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                                                                    EXHIBIT 10.2

                                                                  EXECUTION COPY

                CONTRIBUTION, CONVEYANCE AND ASSUMPTION AGREEMENT

                  This Contribution, Conveyance and Assumption Agreement (this
"Agreement") dated effective as of October 31, 2002, is entered into by and
among Martin Resource Management Corporation, a Texas corporation ("MRMC"),
Martin Resource LLC, a Delaware limited liability company ("Martin LLC"), Martin
Midstream GP LLC, a Delaware limited liability company (the "GP"), Martin
Midstream Partners L.P., a Delaware limited partnership (the "MLP"), Martin
Operating GP LLC, a Delaware limited liability company (the "Operating GP"),
Martin Operating Partnership L.P., a Delaware limited partnership (the
"Operating Partnership"), Martin Gas Marine LLC, a Texas limited liability
company ("Marine LLC"), Martin Resources, Inc., a Texas corporation
("Resources"), Martin L.P. Gas, Inc., a Texas corporation ("MLP Gas"), Martin
Gas Sales LLC, a Texas limited liability company ("MGSLLC"), Martin Transport,
Inc., a Texas corporation ("Transport"), CF Martin Sulphur Holding Corporation,
a Nevada corporation ("CFM-SHC"), and Midstream Fuel Service LLC, an Alabama
limited liability company ("Midstream LLC").

                                    RECITALS

                  WHEREAS, prior to the date hereof, MRMC formed Martin LLC, as
a wholly-owned direct subsidiary, which in turn formed the GP, and contributed
$1,000 to it as a capital contribution in exchange for all of the membership
interests in the GP;

                  WHEREAS, in turn Martin LLC and the GP formed the MLP, with
the GP contributing $20 to it as a capital contribution in exchange for a 2%
general partner interest and Martin LLC contributing $980 to it as a capital
contribution in exchange for a 98% limited partner interest in the MLP;

                  WHEREAS, in turn Martin LLC formed the Operating GP, and
contributed $1,000 to it as a capital contribution in exchange for all of the
membership interests in the Operating GP;

                  WHEREAS, in turn Martin LLC and the Operating GP formed the
Operating Partnership, with the Operating GP contributing $1.00 in exchange for
a 0.1% general partner interest and Martin LLC contributing $999.0 in exchange
for a 99.9% limited partner interest in the Operating Partnership;

                  WHEREAS, Martin Gas Sales, Inc., a Texas corporation,
converted under Texas law into MGSLLC;

                  WHEREAS, Midstream Fuel Services, Inc., an Alabama
corporation, converted under Alabama law into Midstream LLC;

                  WHEREAS, Martin Gas Marine, Inc., a Texas corporation,
converted under Texas law into Marine LLC;

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                  WHEREAS, each of the following transactions shall occur as of
12:01 A.M. Eastern Time on November 1, 2002, or on such other date prior to the
day of the closing of the offering of Common Units of the MLP (the "Closing") as
is mutually agreed upon by the parties hereto:

                  1. MRMC will contribute all of the outstanding membership
interests in Marine LLC (the "Marine Interest") and all of the outstanding
common stock of Resources (the "Resources Common Stock") to Martin LLC as a
capital contribution.

                  2. MGSLLC will contribute all of the outstanding common stock
(the "MLP Gas Common Stock") of MLP Gas to the Operating Partnership in exchange
for a 1.14% limited partner interest in the Operating Partnership;

                  3. Martin LLC will contribute the Marine Interest and the
Resources Common Stock to the Operating Partnership in exchange for a 50.13%
limited partner interest in the Operating Partnership;

                  4. The Operating Partnership will cause each of Resources and
MLP Gas to merge with and into the Operating Partnership, with the Operating
Partnership being the surviving entity.

                  5. MGSLLC will contribute to the Operating Partnership (i)
certain LPG Assets, as set forth in the Bill of Sale described in Section 2.6
below, (ii) certain real property and assets associated with the Mt. Belview
Railrack facility, (iii) all assets and property at MGSLLC's facility at 4118
Pendola Point Road, Tampa, Florida, including that certain Ground Lease
Agreement between MGSI and the Tampa Port Authority, and (iv) certain real
property and assets associated with the Stanolind Terminal, (all such assets set
forth in this paragraph referred to collectively as, the "LPG Assets") in
exchange for a 27.10% limited partner interest in the Operating Partnership;

                  6. Midstream LLC will contribute to the Operating Partnership
those assets set forth in the Bill of Sale described in Section 2.7 below
(collectively, the "Tenn-Tom Towing Assets") in exchange for a 14.30% limited
partner interest in the Operating Partnership;

                  7. Marine LLC will transfer to the Operating Partnership (i) a
25.05% interest in CF Martin Sulphur L.L.C. and (ii) certain office equipment
and vehicles (the "Marine Retained Equipment"), as more fully described in a
Bill of Sale to be executed by Marine LLC in favor of the Operating Partnership
(the "Marine Retained Equipment Bill of Sale"). All of the assets and properties
described in this recital are collectively referred to herein as the "Marine
Retained Assets";

                  8. The Operating Partnership will distribute to Martin LLC
(i)(A) the Marine Retained Assets, as more fully described in a Bill of Sale to
be executed by the Operating Partnership in favor of Martin LLC (the "Retained
Assets Bill of Sale"), and (ii)(A) a 50.00% limited partner interest in
Continental Sulfur Company LLC, (B) the lease for the facility located

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in Hondo, Texas, together with all of the improvements and assets located at
such location, all as to be more fully described in an Assignment of Lease and
Bill of Sale to be executed by the Operating Partnership in favor of Martin LLC
(collectively, the "Hondo Conveyance Documents"), and (C) the real estate,
improvements and assets comprising the facility located at Troy, Alabama, all as
to be more fully described in a Special Warranty Deed and Bill of Sale to be
executed by the Operating Partnership in favor of Martin LLC (collectively, the
"Troy Conveyance Documents"). All of the assets and properties described in this
recital are collectively referred to herein as the "Retained Assets";

                  WHEREAS, on October 30, 2002, or on such other date as is
mutually agreed upon by the parties hereto, Transport shall sell the 7.3 shares
of the Common Stock of CFM-SHC (the "Transport Owned Shares") held by Transport
to MGSLLC in exchange for 40 shares of the Common Stock of MRMC;

                  WHEREAS, each of the following transactions shall occur as of
12:01 am Eastern Time on November 3, 2002, or on such other date as is mutually
agreed upon by the parties hereto (the "Dissolution Effective Time"):

                  1. Marine LLC and MGSLLC shall cause CFM-SHC to dissolve under
the laws of Nevada, and in such dissolution, CFM-SHC shall distribute its
assets, including its 49.5% limited partner interest in CF Martin Sulphur L.P.,
on a pro rata basis to Marine LLC and MGSLLC;

                  2. MGSLLC shall contribute the interest in CF Martin Sulphur
L.P. that it received upon the dissolution of CFM-SHC to the Operating
Partnership in exchange for a 7.33% limited partner interest in the Operating
Partnership;

                  WHEREAS, each of the following transactions shall occur as of
12:01 A.M. Eastern Time on the Closing (the "Closing Day Effective Time"):

                  1. MGSLLC will contribute its 35.57% limited partner interest
in the Operating Partnership to the MLP in exchange for 1,543,797 subordinated
units of the MLP representing limited partnership interests in the MLP
("Subordinated Units");

                  2. Midstream LLC will contribute its 14.30% limited partner
interest in the Operating Partnership to the MLP in exchange for 620,644
Subordinated Units;

                  3. Martin LLC will contribute (i) a 2.00% limited partner
interest in the Operating Partnership to the GP as a capital contribution, and
(ii) a 48.13% limited partner interest in the Operating Partnership and all of
its interest in the Operating GP to the MLP in exchange for 2,088,921
Subordinated Units of the MLP;

                  4. The GP will contribute the 2.00% limited partner interest
in the Operating Partnership it received from Martin LLC to the MLP in exchange
for (a) a continuation of its 2.00% general partner interest in the MLP and (b)
the issuance of incentive distribution rights to the GP;

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                  5. The MLP will redeem the original 98% limited partner
interest in the MLP held by Martin LLC for $980 in cash.

                  WHEREAS, following the Closing, the Operating Partnership will
cause Marine LLC to merge with and into the Operating Partnership, with the
Operating Partnership being the Surviving Entity.

                  NOW, THEREFORE, in consideration of their mutual undertakings
and agreements hereunder, the parties to this Agreement undertake and agree as
follows:

                                   ARTICLE I
                                   RECORDATION

                  SECTION 1.1 RECORDATION OF EVIDENCE OF OWNERSHIP OF ASSETS. In
connection with the conveyances and mergers that are referred to in the recitals
to this Agreement, the parties to this Agreement acknowledge that certain
jurisdictions in which the assets of the applicable parties to such conveyances
and mergers are located may require that documents be recorded by the entities
resulting from such conveyances and mergers in order to evidence title to the
assets owned by such entities. All such documents shall evidence such new
ownership and are not intended to modify, and shall not modify, any of the
terms, covenants and conditions herein set forth.

                                   ARTICLE II
           MERGERS, CONTRIBUTIONS AND DISTRIBUTIONS OF VARIOUS ASSETS

                  SECTION 2.1 CONTRIBUTION OF MARINE INTEREST AND RESOURCES
COMMON STOCK BY MRMC TO MARTIN LLC. At the Contribution Effective Time, MRMC
hereby grants, contributes, transfers, assigns and conveys to Martin LLC, its
successors and assigns, all right, title and interest in and to (i) the Marine
Interest and (ii) the Resources Common Stock as a capital contribution.

                  SECTION 2.2 CONTRIBUTION OF MLP GAS COMMON STOCK TO THE
OPERATING PARTNERSHIP. At the Contribution Effective Time, MGSLLC hereby grants,
contributes, transfers, assigns and conveys to the Operating Partnership, its
successors and assigns, all right, title and interest in and to the MLP Gas
Common Stock in exchange for a 1.14% limited partner interest in the Operating
Partnership.

                  SECTION 2.3 CONTRIBUTION OF MARINE INTEREST AND RESOURCES
COMMON STOCK TO THE OPERATING PARTNERSHIP. At the Contribution Effective Time,
Martin LLC hereby grants, contributes, transfers, assigns and conveys to the
Operating Partnership, its successors and assigns, all right, title and interest
in and to (i) the Marine Interest and (ii) the Resources Common Stock in
exchange for a 50.13% limited partner interest in the Operating Partnership.

                  SECTION 2.4 MERGER OF RESOURCES INTO THE OPERATING
PARTNERSHIP. Pursuant to the Agreement and Plan of Merger attached hereto as
Exhibit A, at the Contribution Effective

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Time, the Operating Partnership shall cause Resources to merge with and into the
Operating Partnership, with the Operating Partnership being the surviving
entity.

                  SECTION 2.5 MERGER OF MLP GAS INTO THE OPERATING PARTNERSHIP.
Pursuant to the Agreement and Plan of Merger attached hereto as Exhibit B, at
the Contribution Effective Time, the Operating Partnership shall cause MLP Gas
to merge with and into the Operating Partnership, with the Operating Partnership
being the surviving entity.

                  SECTION 2.6 CONTRIBUTION OF LPG ASSETS BY MGSLLC TO THE
OPERATING PARTNERSHIP. At the Contribution Effective Time, MGSLLC hereby grants,
contributes, transfers, assigns and conveys to the Operating Partnership, its
successors and assigns, all right, title and interest in and to the LPG Assets,
and the Operating Partnership hereby accepts the LPG Assets in exchange for a
27.10% limited partner interest in the Operating Partnership. In order to give
full effect to the foregoing grant, contribution, transfer, assignment and
conveyance, MGSLLC, as grantor, and the Operating Partnership, as grantee, shall
execute a Bill of Sale in the form attached hereto as Exhibit C together with
such other bills of sale, special warranty deeds, conveyances or other documents
required to transfer the LPG Assets in the jurisdictions in which they are
located.

                  SECTION 2.7 CONTRIBUTION OF TENN-TOM TOWING ASSETS BY
MIDSTREAM LLC TO THE OPERATING PARTNERSHIP. At the Contribution Effective Time,
Midstream LLC hereby grants, contributes, transfers, assigns and conveys to the
Operating Partnership, its successors and assigns, all right, title and interest
in and to the Tenn-Tom Towing Assets, and the Operating Partnership hereby
accepts the Tenn-Tom Towing Assets in exchange for a 14.30% limited partner
interest in the Operating Partnership. In order to give full effect to the
foregoing grant, contribution, transfer, assignment and conveyance, Midstream
LLC, as grantor, and the Operating Partnership, as grantee, shall execute a Bill
of Sale in the form attached hereto as Exhibit D together with any other bills
of sale, conveyances or other documents required by the United States Department
of Transportation or the United States Coast Guard to transfer the Tenn-Tom
Towing Assets.

                  SECTION 2.8 DISTRIBUTION OF THE MARINE RETAINED ASSETS BY
MARINE LLC TO THE OPERATING PARTNERSHIP. At the Contribution Effective Time,
Marine LLC hereby grants, distributes, transfers, assigns and conveys to the
Operating Partnership, its successors and assigns, all right, title, and
interest in and to the Marine Retained Assets. In order to give effect to the
foregoing grant, distribution, transfer, assignment and conveyance, Marine LLC,
as grantor, and the Operating Partnership, as grantee, shall execute (i) such
assignment documents as are necessary to transfer the 25.050% interest in CF
Martin Sulphur L.L.C. and (ii) the Marine Retained Equipment Bill of Sale,
together with any other bills of sale, conveyances or other documents as are
necessary to transfer the Marine Retained Assets to the Operating Partnership.

                  SECTION 2.9 DISTRIBUTION OF THE RETAINED ASSETS BY THE
OPERATING PARTNERSHIP TO MARTIN LLC. At the Contribution Effective Time, the
Operating Partnership hereby grants, distributes, transfers, assigns and conveys
to Martin LLC, its successors and assigns, all right, title, and interest in and
to the Retained Assets. In order to give full effect to the foregoing grant,
distribution, transfer, assignment and conveyance, the Operating

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Partnership, as grantor, and Martin LLC, as grantee, shall execute (i) such
assignment documents as are necessary to transfer the 25.050% interest in CF
Martin Sulphur L.L.C., (ii) the Retained Assets Bill of Sale, (iii) the Hondo
Conveyance Documents, and (iv) the Troy Conveyance Documents, together with any
other bills of sale, conveyances or other documents as are necessary to transfer
the Retained Assets.

                  SECTION 2.10 PURCHASE OF TRANSPORT OWNED SHARES BY MGSLLC FROM
TRANSPORT. On October 30, 2002, or such other date as is mutually agreed upon by
the parties hereto, Transport hereby grants, contributes, transfers, assigns and
conveys to MGSLLC, its successors and assigns, all right, title and interest in
an to the Transport Owned Shares in exchange for 40 shares of the Common Stock
of MRMC.

                  SECTION 2.11 DISSOLUTION AND LIQUIDATION OF CFM-SHC. At the
Dissolution Effective Time, CFM-SHC shall liquidate, and hereby grants,
distributes, transfers, assigns and conveys to each of Marine LLC and MGSLLC,
their successors and assigns, on a pro-rata basis in accordance with the
percentage ownership that each of Marine LLC and MGSLLC hold in CFM-SHC, all
right, title and interest in and to all assets held by CFM-SHC, including its
49.5% limited partner interest in CF Martin Sulphur L.P.

                  SECTION 2.12 CONTRIBUTION OF CF MARTIN SULPHUR L.P. LIMITED
PARTNER INTEREST BY MGSLLC TO THE OPERATING PARTNERSHIP. At the Dissolution
Effective Time, MGSLLC hereby grants, contributes, transfers, assigns and
conveys to the Operating Partnership, its successors and assigns, all right,
title and interest in an to the limited partner interest in CF Martin Sulphur
L.P. that it received pursuant to Section 2.11 in exchange for a 7.33% limited
partner interest in the Operating Partnership.

                  SECTION 2.13 CONTRIBUTION OF OPERATING PARTNERSHIP INTEREST BY
MGSLLC TO THE MLP. At the Closing Day Effective Time, MGSLLC hereby grants,
contributes, transfers, assigns and conveys to the MLP, its successors and
assigns, all right, title and interest of MGSLLC in and to all of its 35.57%
limited partner interest in the Operating Partnership in exchange for 1,543,797
Subordinated Units of the MLP.

                  SECTION 2.14 CONTRIBUTION OF OPERATING PARTNERSHIP INTEREST BY
MIDSTREAM LLC TO THE MLP. At the Closing Day Effective Time, Midstream LLC
hereby grants, contributes, transfers, assigns and conveys to the MLP, its
successors and assigns, all right, title and interest of Midstream LLC in and to
its 14.30% limited partner interest in the Operating Partnership in exchange for
620,644 Subordinated Units of the MLP.

                  SECTION 2.15 CONTRIBUTION OF OPERATING PARTNERSHIP INTEREST BY
MARTIN LLC TO THE GP. At the Closing Day Effective Time, Martin LLC hereby
grants, contributes, transfers, assigns and conveys to the GP, its successors
and assigns, all right, title and interest of Martin LLC in and to a 2.00%
limited partner interest in the Operating Partnership as a contribution to the
capital of the GP.

                  SECTION 2.16 CONTRIBUTION OF OPERATING PARTNERSHIP INTEREST BY
THE GP TO THE MLP. At the Closing Day Effective Time, the GP hereby grants,
contributes, transfers,

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assigns and conveys to the MLP, its successors and assigns, all right, title and
interest of the GP in and to the 2.00% limited partner interest in the Operating
Partnership that it received from Martin LLC (following the transaction set
forth in Section 2.15 above) in exchange for (a) a continuation of its 2%
general partner interest in the MLP and (b) the issuance to it by the MLP of the
incentive distribution rights under the First Amended and Restated Agreement of
Limited Partnership of the MLP.

                  SECTION 2.17 CONTRIBUTION OF OPERATING PARTNERSHIP INTEREST
AND THE OPERATING GP INTEREST BY MARTIN LLC TO THE MLP. At the Closing Day
Effective Time, Martin LLC hereby grants, contributes, transfers, assigns and
conveys to the MLP, its successors and assigns, all right, title and interest of
Martin LLC in and to (a) all of the remaining 48.13% limited partner interest in
the Operating Partnership held by Martin LLC and (b) the 100% membership
interest in the Operating GP held by Martin LLC to the MLP in exchange for
2,088,921 Subordinated Units of the MLP.

                  SECTION 2.18 REDEMPTION OF MARTIN LLC'S LIMITED PARTNER
INTEREST IN THE MLP. At the Closing Day Effective Time, the MLP hereby redeems
from Martin LLC all of Martin LLC's original 98% limited partner interest in the
MLP (exclusive of any Subordinated Units or other interests that Martin LLC has
received pursuant to the terms of this Article II), and in exchange therefore,
the MLP hereby pays to Martin LLC $980 in cash.

                  SECTION 2.19 MERGER OF MARINE LLC INTO THE OPERATING
PARTNERSHIP. Pursuant to the Agreement and Plan of Merger attached hereto as
Exhibit E, at the effective time set forth in such Agreement and Plan of Merger,
the Operating Partnership shall cause Marine LLC to merge with and into the
Operating Partnership, with the Operating Partnership being the surviving
entity.

                                  ARTICLE III
                        ASSUMPTION OF CERTAIN LIABILITIES

                  SECTION 3.1 ASSUMPTION OF LIABILITIES AND OBLIGATIONS BY THE
OPERATING PARTNERSHIP AND THE MLP.

                  (a) In connection with the contribution of the Tenn-Tom Towing
         Assets by Midstream LLC and the LPG Assets by MGSLLC to the Operating
         Partnership, as well as all of the assets (other than the Retained
         Assets) acquired by the Operating Partnership in connection with the
         mergers of Marine LLC, Resources and MLP Gas into the Operating
         Partnership, the Operating Partnership hereby assumes and agrees to
         duly and timely pay, perform and discharge all obligations and
         liabilities incurred with respect to the Contributed Assets, that arise
         from and after the date of this Agreement, to the full extent that
         either Midstream LLC, MGSLLC, Marine LLC, Resources or MLP Gas would
         have been obligated to pay, perform and discharge such obligations and
         liabilities in the future, were it not for the execution and delivery
         of this Agreement; provided, however, that said assumption and
         agreement to duly and timely pay, perform and discharge such
         obligations and liabilities shall not increase the obligation of the
         Operating Partnership with respect to such obligations and liabilities
         beyond that of any

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         of Midstream as to the Tenn-Tom Towing Assets, MGSLLC as to the LPG
         Assets, or Marine LLC, Resources or MLP Gas as to the assets (other
         than the Retained Assets) acquired by the Operating Partnership in
         connection with such mergers, to the extent of such interest conveyed
         by any of Midstream LLC, MGSLLC, Marine LLC, Resources or MLP Gas. For
         purposes of this Agreement, the term "Contributed Assets" shall mean,
         collectively, the Tenn-Tom Towing Assets, the LPG Assets and all of the
         assets acquired by the Operating Partnership in connection with the
         mergers of Marine LLC, Resources and MLP Gas, but excluding the
         Retained Assets.

                  (b) In connection with the transfers of the Contributed Assets
         to the Operating Partnership, and the transfers of the Operating
         Partnership interests to the MLP, the Operating Partnership and the MLP
         will assume the existing debt as set forth on Schedule 3.1 attached
         hereto.

                                   ARTICLE IV
                                  TITLE MATTERS

                  SECTION 4.1 ENCUMBRANCES. The distributions of the Contributed
Assets in connection with the mergers of Marine LLC, Resources and MLP Gas into
the Operating Partnership, under this Agreement are made expressly subject to
all recorded and unrecorded liens, encumbrances, agreements, defects,
restrictions, adverse claim and all laws, rules, regulations, ordinances,
judgments and orders of governmental authorities or tribunals having or
asserting jurisdiction over the applicable Contributed Assets, and operations
conducted in connection therewith, in each case to the extent the same are valid
and enforceable and affect such Contributed Assets, including, without
limitation, (a) all matters that a current visual inspection of such Contributed
Assets would reflect, and (b) the liabilities assumed by the Operating
Partnership with respect to such Contributed Assets.

                  SECTION 4.2 Disclaimer of Warranties; Subrogation; Waiver of
Bulk Sales Laws.

                  (a) (i) NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN
         THIS AGREEMENT, THE MLP AND THE OPERATING PARTNERSHIP ACKNOWLEDGE AND
         AGREE THAT MRMC, MIDSTREAM LLC, MGSLLC, MARINE LLC, RESOURCES, AND MLP
         GAS HAVE NOT MADE, DO NOT MAKE, AND SPECIFICALLY NEGATE AND DISCLAIM,
         ANY REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS, AGREEMENTS OR
         GUARANTIES OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER EXPRESS,
         IMPLIED OR STATUTORY, ORAL OR WRITTEN, PAST OR PRESENT (ALL OF WHICH
         ARE EXPRESSLY DISCLAIMED BY MRMC, MIDSTREAM LLC, MGSLLC, MARINE LLC,
         RESOURCES AND MLP GAS), REGARDING (1) THE TITLE, VALUE, NATURE, QUALITY
         OR CONDITION OF THE CONTRIBUTED ASSETS, (2) THE INCOME TO BE DERIVED
         FROM THE CONTRIBUTED ASSETS, (3) THE SUITABILITY OF THE CONTRIBUTED
         ASSETS FOR ANY AND ALL ACTIVITIES AND USES WHICH THE MLP MAY CONDUCT
         THEREON, (4) THE COMPLIANCE OF OR BY THE CONTRIBUTED ASSETS, OR THEIR

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         OPERATIONS WITH ANY LAWS (INCLUDING WITHOUT LIMITATION ANY ZONING,
         ENVIRONMENTAL PROTECTION, POLLUTION OR LAND USE LAWS, RULES,
         REGULATIONS, ORDERS OR REQUIREMENTS), OR (5) THE HABITABILITY,
         MERCHANTABILITY, MARKETABILITY, PROFITABILITY OR FITNESS FOR A
         PARTICULAR PURPOSE OF THE CONTRIBUTED ASSETS.

                  (ii) THE MLP AND THE OPERATING PARTNERSHIP ACKNOWLEDGE AND
         AGREE THAT THEY HAVE HAD THE OPPORTUNITY TO INSPECT THE CONTRIBUTED
         ASSETS, AND THAT THEY ARE RELYING SOLELY ON THEIR OWN INVESTIGATION OF
         THE CONTRIBUTED ASSETS, AND NOT ON ANY INFORMATION PROVIDED OR TO BE
         PROVIDED BY MRMC, MIDSTREAM LLC, MGSLLC, MARINE LLC, RESOURCES OR MLP
         GAS. MRMC, MIDSTREAM LLC, MGSLLC, MARINE LLC, RESOURCES AND MLP GAS ARE
         NOT LIABLE OR BOUND IN ANY MANNER BY ANY VERBAL OR WRITTEN STATEMENTS,
         REPRESENTATIONS OR INFORMATION PERTAINING TO THE CONTRIBUTED ASSETS,
         FURNISHED BY ANY AGENT, EMPLOYEE, SERVANT OR THIRD PARTY.

                  (iii) THE MLP AND THE OPERATING PARTNERSHIP ACKNOWLEDGE THAT
         TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE CONTRIBUTION OF THE
         CONTRIBUTED ASSETS, AS PROVIDED FOR HEREIN IS MADE ON AN "AS IS",
         "WHERE IS" BASIS WITH ALL FAULTS AND THE CONTRIBUTED ASSETS, ARE
         CONTRIBUTED OR DISTRIBUTED AND CONVEYED BY MIDSTREAM, MGSI, MARINE LLC,
         RESOURCES AND MLP GAS SUBJECT TO THE FOREGOING. THIS PARAGRAPH SHALL
         SURVIVE SUCH CONTRIBUTION OR DISTRIBUTION AND CONVEYANCE OR THE
         TERMINATION OF THIS AGREEMENT.

                  (iv) THE PROVISIONS OF THIS SECTION 4.2 HAVE BEEN NEGOTIATED
         BY MRMC, MIDSTREAM LLC, MGSLLC, MARINE LLC, RESOURCES, MLP GAS, THE MLP
         AND THE OPERATING PARTNERSHIP AFTER DUE CONSIDERATION AND ARE INTENDED
         TO BE A COMPLETE EXCLUSION AND NEGATION OF ANY REPRESENTATIONS OR
         WARRANTIES OF MRMC, MIDSTREAM LLC, MGSLLC, MARINE LLC, RESOURCES AND
         MLP GAS, WHETHER EXPRESS, IMPLIED OR STATUTORY, WITH RESPECT TO THE
         CONTRIBUTED ASSETS, THAT MAY ARISE PURSUANT TO ANY LAW NOW OR HEREAFTER
         IN EFFECT, OR OTHERWISE.

                  (b) The distributions and contributions of the Contributed
         Assets, made under this Agreement are made with full rights of
         substitution and subrogation of the Operating Partnership, and all
         persons claiming by, through and under the Operating Partnership, to
         the extent assignable, in and to all covenants and warranties by the
         predecessors-in-title of Midstream LLC, MGSLLC, Marine LLC, Resources
         and MLP Gas, and with full subrogation of all rights accruing under
         applicable statutes of limitation and all rights of action of warranty
         against all former owners of the Contributed Assets.

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                  (c) Midstream LLC, MGSLLC, Marine LLC, Resources, MLP Gas, the
         MLP, the GP, the Operating Partnership and Operating GP agree that the
         disclaimers contained in this Section 4.2 are "conspicuous"
         disclaimers. Any covenants implied by statute or law by the use of the
         words "grant," "convey," "bargain," "sell," "assign," "transfer,"
         "deliver," or "set over" or any of them or any other words used in this
         Agreement or any exhibits hereto are hereby expressly disclaimed,
         waived or negated.

                  (d) Each of the parties hereto hereby waives compliance with
         any applicable bulk sales law or any similar law in any applicable
         jurisdiction in respect of the transactions contemplated by this
         Agreement. "Laws" means any and all laws, statutes, ordinances, rules
         or regulations promulgated by a governmental authority, orders of a
         governmental authority, judicial decisions, decisions of arbitrators or
         determinations of any governmental authority or court.

                                   ARTICLE V
                               FURTHER ASSURANCES

                  SECTION 5.1 FURTHER ASSURANCES. From time to time after the
date hereof, and without any further consideration, Midstream LLC, MGSLLC,
Martin LLC, the GP, the MLP, the Operating GP and the Operating Partnership
shall execute, acknowledge and deliver all such additional deeds, assignments,
bills of sale, conveyances, instruments, notices, releases, acquittances and
other documents, and will do all such other acts and things, all in accordance
with applicable law, as may be necessary or appropriate more fully and
effectively to vest in the Operating Partnership and the MLP and their
successors and assigns beneficial and record title to the Contributed Assets
hereby contributed and assigned to the Operating Partnership or intended so to
be and to more fully and effectively carry out the purposes and intent of this
Agreement.

                  SECTION 5.2 OTHER ASSURANCES. From time to time after the date
hereof, and without any further consideration, each of the parties to this
Agreement shall execute, acknowledge and deliver all such additional
instruments, notices and other documents, and will do all such other acts and
things, all in accordance with applicable law, as may be necessary or
appropriate to more fully and effectively carry out the purposes and intent of
this Agreement.

                                   ARTICLE VI
                                  MISCELLANEOUS

                  SECTION 6.1 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," "herein" and "hereunder" and words of similar
import, when used in this Agreement, shall refer to this Agreement as a whole,
including without limitation, all exhibits attached hereto, and not to any
particular provision of this Agreement. All references herein to articles,
sections, and exhibits shall, unless the context requires a different
construction, be deemed to be references to the articles, sections and exhibits
of this Agreement, respectively, and all such 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,

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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," "but not limited to," 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 6.2 SUCCESSORS AND ASSIGNS. The Agreement shall be
binding upon and inure to the benefit of the parties signatory hereto and their
respective successors and assigns.

                  SECTION 6.3 NO THIRD PARTY RIGHTS. The provisions of this
Agreement are intended to bind the parties signatory hereto 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 6.4 COUNTERPARTS. This Agreement may be executed in
any number of counterparts, all of which together shall constitute one agreement
binding on the parties hereto.

                  SECTION 6.5 GOVERNING LAW. This Agreement shall be governed
by, and construed in accordance with, the laws of the State of Texas applicable
to contracts made and to be performed wholly within such state without giving
effect to conflict of law principles thereof, except to the extent that it is
mandatory that the law of some other jurisdiction, shall apply.

                  SECTION 6.6 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 provision 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 6.7 AMENDMENT OR MODIFICATION. This Agreement may be
amended or modified from time to time only by the written agreement of all the
parties hereto.

                  SECTION 6.8 INTEGRATION. This Agreement, together with that
certain Omnibus Agreement dated of even date herewith, to be entered into by and
among MRMC, certain of MRMC's subsidiaries, the MLP, the GP, the Operating
Partnership and the Operating GP (the "Omnibus Agreement"), supersedes all
previous understandings or agreements between the parties, whether oral or
written, with respect to its subject matter. This document is an integrated
agreement which contains the entire understanding of the parties. No
understanding, representation, promise or agreement, whether oral or written,
other than those contained in the Omnibus Agreement, is intended to be or shall
be included in or form part of this Agreement

                                       11
<PAGE>

unless it is contained in a written amendment hereto executed by the parties
hereto after the date of this Agreement.

            [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

                                       12
<PAGE>

                  IN WITNESS WHEREOF, this Agreement has been duly executed by
the parties hereto as of the date first above written.

                                 MARTIN RESOURCE MANAGEMENT CORPORATION

                                 By: /s/ Robert D. Bondurant
                                     Robert D. Bondurant
                                     Chief Financial Officer

                                 MARTIN MIDSTREAM GP LLC

                                 By: /s/ Robert D. Bondurant
                                     Robert D. Bondurant
                                     Chief Financial Officer

                                 MARTIN MIDSTREAM PARTNERS L.P.

                                 By: MARTIN MIDSTREAM GP LLC

                                     By: /s/ Robert D. Bondurant
                                         Robert D. Bondurant
                                         Chief Financial Officer

                                 MARTIN GAS MARINE LLC

                                 By: Martin Resource Management Corporation
                                     As Sole Member

                                     By: /s/ Robert D. Bondurant
                                         Robert D. Bondurant
                                         Chief Financial Officer

                                       13
<PAGE>

                                 MARTIN RESOURCES, INC.

                                 By: /s/ Robert D. Bondurant
                                     Robert D. Bondurant
                                     Chief Financial Officer

                                 MARTIN GAS SALES LLC

                                 By: Martin Resource Management Corporation
                                     As Sole Member

                                     By: /s/ Robert D. Bondurant
                                         Robert D. Bondurant
                                         Chief Financial Officer

                                 MARTIN L.P. GAS, INC.

                                 By: /s/ Robert D. Bondurant
                                     Robert D. Bondurant
                                     Chief Financial Officer

                                 MARTIN TRANSPORT, INC.

                                 By: /s/ Robert D. Bondurant
                                     Robert D. Bondurant
                                     Chief Financial Officer

                                 MARTIN RESOURCE LLC

                                 By: Martin Resource Management Corporation
                                     As Sole Member

                                     By: /s/ Robert D. Bondurant
                                         Robert D. Bondurant
                                         Chief Financial Officer

                                       14
<PAGE>

                                 CF MARTIN SULPHUR HOLDING CORPORATION

                                 By: /s/ Robert D. Bondurant
                                     Robert D. Bondurant
                                     Chief Financial Officer

                                 MIDSTREAM FUEL SERVICE LLC

                                 By: Martin Resource Management Corporation
                                     As Sole Member

                                     By: /s/ Ruben S. Martin, III
                                     Name: Ruben S. Martin, III
                                     Title: President

                                 MARTIN OPERATING GP LLC

                                 By: Martin Resource LLC
                                     As Sole Member

                                     By: Martin Resource Management Corporation
                                         As Sole Member

                                         By: /s/ Ruben S. Martin, III
                                             Name: Ruben S. Martin, III
                                             Title: President

                                       15
<PAGE>
                                 MARTIN OPERATING PARTNERSHIP L.P.

                                 By: Martin Operating GP LLC, its General
                                     Partner

                                     By: Martin Resource LLC,
                                         As Sole Member

                                         By: Martin Resource Management
                                             Corporation
                                             As Sole Member

                                             By: /s/ Robert D. Bondurant
                                                 Robert D. Bondurant
                                                 Chief Financial Officer

                                       16
<PAGE>

                                    EXHIBIT A

<PAGE>

                          AGREEMENT AND PLAN OF MERGER

                                     BETWEEN

                             MARTIN RESOURCES, INC.

                                       AND

                        MARTIN OPERATING PARTNERSHIP L.P.

                          DATED AS OF NOVEMBER 1, 2002

<PAGE>

                          AGREEMENT AND PLAN OF MERGER

         This AGREEMENT AND PLAN OF MERGER (this "Agreement"), dated as of
November 1], 2002, but effective as of the Effective Time (as defined in Section
1.2), between Martin Resources, Inc., a Texas corporation ("Resources"), and
Martin Operating Partnership L.P., a Delaware limited partnership (the
"Partnership");

                                   WITNESSETH:

         WHEREAS, the Board of Directors of Resources has determined that it is
in the best interests of Resources and its sole shareholder to effectuate a
merger whereby Resources will be merged with and into the Partnership with the
Partnership being the surviving entity (the "Merger");

         WHEREAS, Martin Operating GP LLC, a Delaware limited liability company
and the General Partner of the Partnership (the "General Partner"), has
determined that it is in the best interests of the Partnership and its partners
to effectuate the Merger;

         WHEREAS, the Board of Directors of Resources and the sole member of the
General Partner have each approved the Merger, upon the terms and subject to the
conditions set forth in this Agreement; and

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

                                   ARTICLE I
                                   THE MERGER

         Section 1.1 The Merger. Subject to the terms and conditions of this
Agreement, and in accordance with the Texas Business Corporation Act (the
"TBCA") and the Delaware Revised Uniform Limited Partnership Act (the "DRULPA"),
at the Effective Time, Resources shall be merged with and into the Partnership
in accordance with this Agreement, and the separate corporate existence of
Resources shall thereupon cease. The Partnership shall continue as the surviving
entity in the Merger (sometimes hereinafter referred to as the "Surviving
Entity"), and all the properties, rights, privileges, powers and franchises of
Resources shall vest in the Surviving Entity without any transfer or assignment
having occurred, and all debts, liabilities and duties of Resources shall attach
to the Surviving Entity, all in accordance with the TBCA and the DRULPA.

         Section 1.2 Filing Certificate of Merger; Effective Time. As soon as
practicable following the satisfaction or, to the extent permitted by applicable
law, waiver of the conditions set forth in Article IV, if this Agreement shall
not have been terminated prior thereto as provided in Section 5.1, Resources and
the Partnership shall cause (i) articles of merger meeting the requirements of
Section 5.04 of the TBCA (the "Articles of Merger") and (ii) a certificate of

<PAGE>

merger meeting the requirements of Section 17-211 of the DRULPA (together with
the Articles of Merger, the "Merger Filings") to be properly executed and filed
in accordance with each such section. The Merger shall become effective at the
later of (1) the time of filing of the Merger Filings with the Secretaries of
State of the States of Texas and Delaware and (2) at 12:01 Eastern time on
November 1, 2002 (the "Effective Time").

                                   ARTICLE II
                                SURVIVING ENTITY

         Section 2.1 Name of Surviving Entity. The name of the Surviving Entity
shall be "Martin Operating Partnership L.P."

         Section 2.2 Certificate of Limited Partnership of Surviving Entity. The
Certificate of Limited Partnership of the Partnership shall continue to be the
Certificate of Limited Partnership of the Surviving Entity until amended as
provided therein and under the DRULPA.

                                  ARTICLE III
                          CANCELLATION OF COMMON STOCK

         Section 3.1 Cancellation of Common Stock in the Merger. At the
Effective Time, by virtue of the Merger and without any action on the part of
Resources or the sole shareholder of Resources, (i) each issued and outstanding
share of Common Stock shall be automatically cancelled, and (ii) each issued
share, if any, held by Resources as a treasury share shall be cancelled without
receipt of any consideration therefor.

                                   ARTICLE IV
                              CONDITIONS PRECEDENT

         The respective obligation of each party to effect the Merger is subject
to the satisfaction or waiver of the following conditions:

                  (a) None of the parties hereto shall be subject to any decree,
         order or injunction of a court of competent jurisdiction, U.S. or
         foreign, which prohibits the consummation of the Merger.

                  (b) Other than the filing of the Merger Filings provided for
         under Article I, all material consents, appeals, authorizations of, or
         filings or registrations with and notices to any governmental or
         regulatory authority required of Resources and the Partnership or any
         of their subsidiaries to consummate the Merger and the other
         transactions contemplated hereby, shall have been made or obtained.

                  (c) Any consents required under instruments evidencing
         indebtedness and any consents required under any contracts to which
         Resources or any subsidiary of Resources is a party, shall have been
         obtained.

                                      A-2

<PAGE>

                                   ARTICLE V
                        TERMINATION, AMENDMENT AND WAIVER

         Section 5.1 Termination. This Agreement may be terminated at any time
prior to the Effective Time by action of the Board of Directors of Resources or
the General Partner.

         Section 5.2 Effect of Termination. In the event of termination of this
Agreement as provided in Section 5.1, this Agreement shall forthwith become void
and have no effect, without any liability or obligation on the part of Resources
or the Partnership.

         Section 5.3 Amendment. This Agreement may not be amended except by an
instrument in writing signed on behalf of each of the parties hereto.

         Section 5.4 Waiver. At any time prior to the Effective Time, the
parties may waive compliance by the other parties with any of the agreements
contained in this Agreement, or may waive any of the conditions to consummation
of the Merger contained in this Agreement. Any agreement on the part of a party
to any such waiver shall be valid only if set forth in an instrument in writing
signed on behalf of such party. The failure of any party to this Agreement to
assert any of its rights under this Agreement or otherwise shall not constitute
a waiver of such rights.

                                   ARTICLE VI
                               GENERAL PROVISIONS

         Section 6.1 Assignment; Binding Effect; Benefit. Neither this Agreement
nor any of the rights, interests or obligations hereunder shall be assigned by
any of the parties hereto (whether by operation of law or otherwise) without the
prior written consent of the other parties. Subject to the preceding sentence,
this Agreement shall be binding upon and shall inure to the benefit of the
parties hereto and their respective successors and assigns. Notwithstanding
anything contained in this Agreement to the contrary, nothing in this Agreement,
expressed or implied, is intended to confer on any person other than the parties
hereto or their respective successors and assigns any rights, remedies,
obligations or liabilities under or by reason of this Agreement.

         Section 6.2 Entire Agreement. This Agreement and any documents
delivered by the parties in connection herewith constitute the entire agreement
among the parties with respect to the subject matter hereof and supersede all
prior agreements and understandings among the parties with respect thereto. No
addition to or modification of any provision of this Agreement shall be binding
upon any party hereto unless made in writing and signed by all parties hereto.

         Section 6.3 Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of Delaware without regard to
its rules of conflict of laws.

         Section 6.4 Counterparts. This Agreement may be executed by the parties
hereto in separate counterparts, each of which when so executed and delivered
shall be an original, but all

                                      A-3
<PAGE>

such counterparts shall together constitute one and the same instrument. Each
counterpart may consist of a number of copies hereof each signed by less than
all, but together signed by all of the parties hereto.

         Section 6.5 Headings. Headings of the Articles and Sections of this
Agreement are for the convenience of the parties only and shall be given no
substantive or interpretative effect whatsoever.

                                      A-4
<PAGE>

         IN WITNESS WHEREOF, Resources and the Partnership have caused this
Agreement to be signed by their respective officers thereunto duly authorized,
all as of the date first written above.

                                   MARTIN RESOURCES, INC.

                                   By:
                                      -----------------------------------------
                                      Robert D. Bondurant
                                      Chief Financial Officer

                                   MARTIN OPERATING PARTNERSHIP L.P.

                                   By: Martin Operating GP LLC
                                       Its General Partner

                                       By: Martin Resource LLC
                                           Its Sole Member

                                           By: Martin Resource Management
                                               Corporation
                                               Its Sole Member

                                               By:
                                                  -----------------------------
                                                  Robert D. Bondurant
                                                  Chief Financial Officer

                                      A-5
<PAGE>

                                    EXHIBIT B

<PAGE>

                          AGREEMENT AND PLAN OF MERGER

                                     BETWEEN

                              MARTIN L.P. GAS, INC.

                                       AND

                        MARTIN OPERATING PARTNERSHIP L.P.

                          DATED AS OF NOVEMBER 1, 2002

<PAGE>

                          AGREEMENT AND PLAN OF MERGER

         This AGREEMENT AND PLAN OF MERGER (this "Agreement"), dated as of
November 1, 2002, but effective as of the Effective Time (as defined in Section
1.2), between Martin L.P. Gas, Inc., a Texas corporation ("MLPG"), and Martin
Operating Partnership L.P., a Delaware limited partnership (the "Partnership");

                                   WITNESSETH:

         WHEREAS, the Board of Directors of MLPG has determined that it is in
the best interests of MLPG and its sole shareholder to effectuate a merger
whereby MLPG will be merged with and into the Partnership with the Partnership
being the surviving entity (the "Merger");

         WHEREAS, Martin Operating GP LLC, a Delaware limited liability company
and the General Partner of the Partnership (the "General Partner"), has
determined that it is in the best interests of the Partnership and its partners
to effectuate the Merger;

         WHEREAS, the Board of Directors of MLPG and the sole member of the
General Partner have each approved the Merger, upon the terms and subject to the
conditions set forth in this Agreement; and

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

                                   ARTICLE I
                                   THE MERGER

         Section 1.1 The Merger. Subject to the terms and conditions of this
Agreement, and in accordance with the Texas Business Corporation Act (the
"TBCA") and the Delaware Revised Uniform Limited Partnership Act (the "DRULPA"),
at the Effective Time, MLPG shall be merged with and into the Partnership in
accordance with this Agreement, and the separate corporate existence of MLPG
shall thereupon cease. The Partnership shall continue as the surviving entity in
the Merger (sometimes hereinafter referred to as the "Surviving Entity"), and
all the properties, rights, privileges, powers and franchises of MLPG shall vest
in the Surviving Entity without any transfer or assignment having occurred, and
all debts, liabilities and duties of MLPG shall attach to the Surviving Entity,
all in accordance with the TBCA and the DRULPA.

         Section 1.2 Filing Certificate of Merger; Effective Time. As soon as
practicable following the satisfaction or, to the extent permitted by applicable
law, waiver of the conditions set forth in Article IV, if this Agreement shall
not have been terminated prior thereto as provided in Section 5.1, MLPG and the
Partnership shall cause (i) articles of merger meeting the requirements of
Section 5.04 of the TBCA (the "Articles of Merger") and (ii) a certificate of
merger meeting the requirements of Section 17-211 of the DRULPA (together with
the Articles

<PAGE>

of Merger, the "Merger Filings") to be properly executed and filed in accordance
with each such section. The Merger shall become effective at the later of (1)
the time of filing of the Merger Filings with the Secretaries of State of the
States of Texas and Delaware and (2) at 12:01 a.m. Eastern time on November 1,
2002 (the "Effective Time").

                                   ARTICLE II
                                SURVIVING ENTITY

         Section 2.1 Name of Surviving Entity. The name of the Surviving Entity
shall be "Martin Operating Partnership L.P."

         Section 2.2 Certificate of Limited Partnership of Surviving Entity. The
Certificate of Limited Partnership of the Partnership shall continue to be the
Certificate of Limited Partnership of the Surviving Entity until amended as
provided therein and under the DRULPA.

                                  ARTICLE III
                          CANCELLATION OF COMMON STOCK

         Section 3.1 Cancellation of Common Stock in the Merger. At the
Effective Time, by virtue of the Merger and without any action on the part of
MLPG or the sole shareholder of MLPG, (i) each issued and outstanding share of
Common Stock shall be automatically cancelled, and (ii) each issued share, if
any, held by MLPG as a treasury share shall be cancelled without receipt of any
consideration therefor.

                                   ARTICLE IV
                              CONDITIONS PRECEDENT

         The respective obligation of each party to effect the Merger is subject
to the satisfaction or waiver of the following conditions:

                  (a) None of the parties hereto shall be subject to any decree,
         order or injunction of a court of competent jurisdiction, U.S. or
         foreign, which prohibits the consummation of the Merger.

                  (b) Other than the filing of the Merger Filings provided for
         under Article I, all material consents, appeals, authorizations of, or
         filings or registrations with and notices to any governmental or
         regulatory authority required of MLPG and the Partnership or any of
         their subsidiaries to consummate the Merger and the other transactions
         contemplated hereby, shall have been made or obtained.

                  (c) Any consents required under instruments evidencing
         indebtedness and any consents required under any contracts to which
         MLPG or any subsidiary of MLPG is a party, shall have been obtained.

                                      B-2

<PAGE>

                                   ARTICLE V
                        TERMINATION, AMENDMENT AND WAIVER

         Section 5.1 Termination. This Agreement may be terminated at any time
prior to the Effective Time by action of the Board of Directors of MLPG or the
General Partner.

         Section 5.2 Effect of Termination. In the event of termination of this
Agreement as provided in Section 5.1, this Agreement shall forthwith become void
and have no effect, without any liability or obligation on the part of MLPG or
the Partnership.

         Section 5.3 Amendment. This Agreement may not be amended except by an
instrument in writing signed on behalf of each of the parties hereto.

         Section 5.4 Waiver. At any time prior to the Effective Time, the
parties may waive compliance by the other parties with any of the agreements
contained in this Agreement, or may waive any of the conditions to consummation
of the Merger contained in this Agreement. Any agreement on the part of a party
to any such waiver shall be valid only if set forth in an instrument in writing
signed on behalf of such party. The failure of any party to this Agreement to
assert any of its rights under this Agreement or otherwise shall not constitute
a waiver of such rights.

                                   ARTICLE VI
                               GENERAL PROVISIONS

         Section 6.1 Assignment; Binding Effect; Benefit. Neither this Agreement
nor any of the rights, interests or obligations hereunder shall be assigned by
any of the parties hereto (whether by operation of law or otherwise) without the
prior written consent of the other parties. Subject to the preceding sentence,
this Agreement shall be binding upon and shall inure to the benefit of the
parties hereto and their respective successors and assigns. Notwithstanding
anything contained in this Agreement to the contrary, nothing in this Agreement,
expressed or implied, is intended to confer on any person other than the parties
hereto or their respective successors and assigns any rights, remedies,
obligations or liabilities under or by reason of this Agreement.

         Section 6.2 Entire Agreement. This Agreement and any documents
delivered by the parties in connection herewith constitute the entire agreement
among the parties with respect to the subject matter hereof and supersede all
prior agreements and understandings among the parties with respect thereto. No
addition to or modification of any provision of this Agreement shall be binding
upon any party hereto unless made in writing and signed by all parties hereto.

         Section 6.3 Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of Delaware without regard to
its rules of conflict of laws.

         Section 6.4 Counterparts. This Agreement may be executed by the parties
hereto in separate counterparts, each of which when so executed and delivered
shall be an original, but all such counterparts shall together constitute one
and the same instrument. Each counterpart may

                                      B-3
<PAGE>

consist of a number of copies hereof each signed by less than all, but together
signed by all of the parties hereto.

         Section 6.5 Headings. Headings of the Articles and Sections of this
Agreement are for the convenience of the parties only and shall be given no
substantive or interpretative effect whatsoever.

                                      B-4
<PAGE>

         IN WITNESS WHEREOF, MLPG and the Partnership have caused this Agreement
to be signed by their respective officers thereunto duly authorized, all as of
the date first written above.

                              MARTIN L.P. GAS, INC.

                              By:
                                 ----------------------------------------------
                                 Robert D. Bondurant
                                 Chief Financial Officer

                              MARTIN OPERATING PARTNERSHIP L.P.

                              By: Martin Operating GP LLC
                                  Its General Partner

                                  By: Martin Resource LLC
                                      Its Sole Member

                                      By: Martin Resource Management
                                          Corporation
                                          Its Sole Member

                                          By:
                                             ----------------------------------
                                             Robert D. Bondurant
                                             Chief Financial Officer

                                      B-5
<PAGE>

                                    EXHIBIT C

<PAGE>

                             CONVEYANCE, ASSIGNMENT
                                AND BILL OF SALE

         Recording Requested by and When Recorded Return to: Baker Botts L.L.P.,
2001 Ross Avenue, Dallas, Texas 75201, Attn: Chad D. Burkhardt.

                     CONVEYANCE, ASSIGNMENT AND BILL OF SALE

         This Conveyance, Assignment and Bill of Sale (this "Conveyance"),
effective as of 12:01 A.M. Eastern Time on November 1, 2002 (the "Effective
Date"), is from MARTIN GAS SALES LLC, a Texas limited liability company (herein
called "Grantor"), and in favor of MARTIN OPERATING PARTNERSHIP L.P., whose
mailing address is 4200 Stone Road, Kilgore Texas 75662 (herein called
"Grantee").

                                    ARTICLE I
                          GRANTING AND HABENDUM CLAUSES

         1.1 GRANTING AND HABENDUM CLAUSES. For good and valuable consideration,
the receipt and sufficiency of which Grantee hereby acknowledges, Grantor hereby
contributes, conveys, assigns, transfers, delivers, and sets over unto Grantee,
its successors and assigns, all right, title, interests and estate of Grantor in
and to the following described property, to-wit:

         ALL OF THE ASSETS SET FORTH ON SCHEDULE A ATTACHED HERETO

The property described in this Section 1.1 shall be referred to herein
collectively as the "Subject Property".

         TO HAVE AND TO HOLD the Subject Property, subject to the terms and
conditions hereof, unto Grantee, its successors and assigns, forever.

                                   ARTICLE II
                      ENCUMBRANCES AND WARRANTY DISCLAIMERS

         2.1 PERMITTED ENCUMBRANCES. This Conveyance is made and accepted
expressly subject to (a) all liens, charges, encumbrances, contracts,
agreements, instruments, obligations, defects, restrictions, security interests,
options or preferential rights to purchase, adverse claims, reservations,
exceptions, easements, rights-of-way, conditions, leases, other matters
affecting the Subject Property or to which it is subject; and (b) to all matters
that a current on the ground survey or visual inspection would reflect.

         2.2 CONTRIBUTION AGREEMENT. This Conveyance is expressly made subject
to the terms and conditions of that certain Contribution, Conveyance and
Assumption Agreement dated as of October __, 2002, among Grantor, Grantee and
the other parties thereto (the "Contribution Agreement"). All capitalized terms
used herein shall have the meanings given to such terms in the Contribution
Agreement, unless otherwise defined herein. Nothing contained in this

<PAGE>

Conveyance shall in any way affect the provisions set forth in the Contribution
Agreement nor shall this Conveyance expand or contract any rights or remedies
under the Contribution Agreement. This Conveyance is intended only to effect the
transfer of the Subject Property to Grantee as provided for in the Contribution
Agreement and shall be governed entirely in accordance with the terms and
conditions of the Contribution Agreement. In the event of a conflict between the
terms of this Conveyance and the terms of the Contribution Agreement, the terms
of the Contribution Agreement shall prevail.

         2.3 DISCLAIMER OF WARRANTIES; SUBROGATION. Except as expressly provided
herein or in the Contribution Agreement, this Conveyance is made, and is
accepted by Grantee, without warranty of title, express, implied or statutory,
and without recourse, but with full substitution and subrogation of Grantee, and
all persons claiming by, through, and under Grantee, to the extent assignable,
in and to all covenants and warranties by the predecessors in title of Grantor
and with full subrogation of all rights accruing under applicable statutes of
limitation or prescription and all rights of action of warranty against all
former owners of the Subject Property. Except as expressly provided herein or in
the Contribution Agreement, any covenants implied by statute or by the use of
the words "convey", "sell", "assign", "transfer", "deliver", or "set over" or
any of them or any other words used in this Conveyance, are hereby expressly
disclaimed, waived and negated.

                                   ARTICLE III
                                  MISCELLANEOUS

         3.1 FURTHER ASSURANCES. Grantor and Grantee agree to take all such
further actions and to execute, acknowledge and deliver all such further
documents that are necessary or useful in carrying out the purposes of this
Conveyance. So long as authorized by applicable law so to do, Grantor agrees to
execute, acknowledge and deliver to Grantee all such other additional
instruments, notices, affidavits, deeds, conveyances, assignments and other
documents and to do all such other and further acts and things as may be
necessary or useful to more fully and effectively grant, bargain, assign,
convey, transfer and deliver to Grantee the Subject Property conveyed hereby or
intended so to be conveyed.

         3.2 SUCCESSORS AND ASSIGNS; NO THIRD PARTY BENEFICIARY. This Conveyance
shall be binding upon, and shall and inure to the benefit of, Grantor and
Grantee and their successors and assigns. The provisions of this Conveyance are
not intended to and do not create rights in any other person or entity or confer
upon any other person or entity any benefits, rights or remedies and no person
or entity is or is intended to be a third party beneficiary of any of the
provisions of this Conveyance.

         3.3 GOVERNING LAW. This Conveyance and the legal relations between the
parties shall be governed by, and construed in accordance with, the laws of the
State of Texas, excluding any conflict of law rule which would refer any issue
to the laws of another jurisdiction, except when it is mandatory that the law of
the jurisdiction wherein the Subject Property is located shall apply.

                                      C-2
<PAGE>

         3.4 HEADINGS; REFERENCES; DEFINED TERMS. All Section headings in this
Conveyance 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",
"herein" and "hereunder" and words of similar import, when used in this
Conveyance, shall refer to this Conveyance as a whole, including, without
limitation, all Schedules and Exhibits attached hereto, and not to any
particular provision of this Conveyance.

         3.5 COUNTERPARTS. This Conveyance may be executed in any number of
counterparts, all of which together shall constitute one agreement binding on
the parties hereto.

         3.6 SEVERABILITY. If any of the provisions of this Conveyance 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 Conveyance shall be construed as if it did not contain
the particular provision 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 Conveyance at the time of
execution of this Conveyance.

                                      C-3

<PAGE>

         IN WITNESS WHEREOF, this Conveyance has been duly executed by the
parties hereto on the dates of the acknowledgments set forth below, to be
effective, however, as of the Effective Date.

                             GRANTOR:

                             MARTIN GAS SALES LLC,

                             By: Martin Resource LLC,
                                 Its sole member

                                 By: Martin Resource Management
                                     Corporation,
                                     Its sole member

                                     By:
                                        ---------------------------------------
                                     Name:
                                          -------------------------------------
                                     Title:
                                           ------------------------------------

                             GRANTEE

                             MARTIN OPERATING PARTNERSHIP L.P.

                             By: Martin Operating GP LLC,
                                 Its general partner

                                 By: Martin Resource LLC,
                                     Its sole member

                                     By: Martin Resource Management Corporation,
                                         Its sole member

                                         By:
                                            -----------------------------------
                                         Name:
                                              ---------------------------------
                                         Title:
                                               --------------------------------

                                      C-4

<PAGE>
THE STATE OF TEXAS                  )
                                    )
COUNTY OF _________                 )

         This instrument was acknowledged before me on the ____ day of
___________, 2002, by ______________, ______________ of [.], on behalf of and in
[HIS/HER] capacity as __________ of [.].

                                            -----------------------------------
                                            NOTARY PUBLIC

My Commission Expires:

------------------------

THE STATE OF TEXAS                  )
                                    )
COUNTY OF _________                 )

         This instrument was acknowledged before me on the ____ day of
___________, 2002, by ______________, ______________ of [.], on behalf of and in
[HIS/HER] capacity as __________ of [.].

                                            -----------------------------------
                                            NOTARY PUBLIC

My Commission Expires:

------------------------

                                      C-5

<PAGE>

                                   SCHEDULE A

                                      C-6

<PAGE>

                                    EXHIBIT D

<PAGE>

                             CONVEYANCE, ASSIGNMENT
                                AND BILL OF SALE

         Recording Requested by and When Recorded Return to: Baker Botts L.L.P.,
2001 Ross Avenue, Dallas, Texas 75201, Attn: Chad D. Burkhardt.

                     CONVEYANCE, ASSIGNMENT AND BILL OF SALE

         This Conveyance, Assignment and Bill of Sale (this "Conveyance"),
effective as of 12:01 A.M. Eastern Time on November 1, 2002 (the "Effective
Date"), is from MIDSTREAM FUEL SERVICE LLC, an Alabama limited liability company
(herein called "Grantor"), and in favor of MARTIN OPERATING PARTNERSHIP L.P.,
whose mailing address is 4200 Stone Road, Kilgore Texas 75662 (herein called
"Grantee").

                                    ARTICLE I
                          GRANTING AND HABENDUM CLAUSES

         1.1 GRANTING AND HABENDUM CLAUSES. For good and valuable consideration,
the receipt and sufficiency of which Grantee hereby acknowledges, Grantor hereby
contributes, conveys, assigns, transfers, delivers, and sets over unto Grantee,
its successors and assigns, all right, title, interests and estate of Grantor in
and to the following described property, to-wit:

         ALL OF THE ASSETS SET FORTH ON SCHEDULE A ATTACHED HERETO

The property described in this Section 1.1 shall be referred to herein
collectively as the "Subject Property".

         TO HAVE AND TO HOLD the Subject Property, subject to the terms and
conditions hereof, unto Grantee, its successors and assigns, forever.

                                   ARTICLE II
                      ENCUMBRANCES AND WARRANTY DISCLAIMERS

         2.1 PERMITTED ENCUMBRANCES. This Conveyance is made and accepted
expressly subject to (a) all liens, charges, encumbrances, contracts,
agreements, instruments, obligations, defects, restrictions, security interests,
options or preferential rights to purchase, adverse claims, reservations,
exceptions, easements, rights-of-way, conditions, leases, other matters
affecting the Subject Property or to which it is subject; and (b) to all matters
that a current on the ground survey or visual inspection would reflect.

         2.2 CONTRIBUTION AGREEMENT. This Conveyance is expressly made subject
to the terms and conditions of that certain Contribution, Conveyance and
Assumption Agreement dated as of October __, 2002, among Grantor, Grantee and
the other parties thereto (the "Contribution Agreement"). All capitalized terms
used herein shall have the meanings given to such terms in the Contribution
Agreement, unless otherwise defined herein. Nothing contained in this

<PAGE>

Conveyance shall in any way affect the provisions set forth in the Contribution
Agreement nor shall this Conveyance expand or contract any rights or remedies
under the Contribution Agreement. This Conveyance is intended only to effect the
transfer of the Subject Property to Grantee as provided for in the Contribution
Agreement and shall be governed entirely in accordance with the terms and
conditions of the Contribution Agreement. In the event of a conflict between the
terms of this Conveyance and the terms of the Contribution Agreement, the terms
of the Contribution Agreement shall prevail.

         2.3 DISCLAIMER OF WARRANTIES; SUBROGATION. Except as expressly provided
herein or in the Contribution Agreement, this Conveyance is made, and is
accepted by Grantee, without warranty of title, express, implied or statutory,
and without recourse, but with full substitution and subrogation of Grantee, and
all persons claiming by, through, and under Grantee, to the extent assignable,
in and to all covenants and warranties by the predecessors in title of Grantor
and with full subrogation of all rights accruing under applicable statutes of
limitation or prescription and all rights of action of warranty against all
former owners of the Subject Property. Except as expressly provided herein or in
the Contribution Agreement, any covenants implied by statute or by the use of
the words "convey", "sell", "assign", "transfer", "deliver", or "set over" or
any of them or any other words used in this Conveyance, are hereby expressly
disclaimed, waived and negated.

                                   ARTICLE III
                                  MISCELLANEOUS

         3.1 FURTHER ASSURANCES. Grantor and Grantee agree to take all such
further actions and to execute, acknowledge and deliver all such further
documents, including all bills of sales and other instruments as are required by
the United States Department of Transportation or the United States Coast Guard
to transfer any of the Subject Assets, that are necessary or useful in carrying
out the purposes of this Conveyance. So long as authorized by applicable law so
to do, Grantor agrees to execute, acknowledge and deliver to Grantee all such
other additional instruments, notices, affidavits, deeds, conveyances,
assignments and other documents and to do all such other and further acts and
things as may be necessary or useful to more fully and effectively grant,
bargain, assign, convey, transfer and deliver to Grantee the Subject Property
conveyed hereby or intended so to be conveyed.

         3.2 SUCCESSORS AND ASSIGNS; NO THIRD PARTY BENEFICIARY. This Conveyance
shall be binding upon, and shall and inure to the benefit of, Grantor and
Grantee and their successors and assigns. The provisions of this Conveyance are
not intended to and do not create rights in any other person or entity or confer
upon any other person or entity any benefits, rights or remedies and no person
or entity is or is intended to be a third party beneficiary of any of the
provisions of this Conveyance.

         3.3 GOVERNING LAW. This Conveyance and the legal relations between the
parties shall be governed by, and construed in accordance with, the laws of the
State of Texas, excluding any conflict of law rule which would refer any issue
to the laws of another jurisdiction, except when it is mandatory that the law of
the jurisdiction wherein the Subject Property is located shall apply.

                                      D-2

<PAGE>

         3.4 HEADINGS; REFERENCES; DEFINED TERMS. All Section headings in this
Conveyance 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",
"herein" and "hereunder" and words of similar import, when used in this
Conveyance, shall refer to this Conveyance as a whole, including, without
limitation, all Schedules and Exhibits attached hereto, and not to any
particular provision of this Conveyance.

         3.5 COUNTERPARTS. This Conveyance may be executed in any number of
counterparts, all of which together shall constitute one agreement binding on
the parties hereto.

         3.6 SEVERABILITY. If any of the provisions of this Conveyance 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 Conveyance shall be construed as if it did not contain
the particular provision 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 Conveyance at the time of
execution of this Conveyance.

                                      D-3

<PAGE>

         IN WITNESS WHEREOF, this Conveyance has been duly executed by the
parties hereto on the dates of the acknowledgments set forth below, to be
effective, however, as of the Effective Date.

                          GRANTOR:

                          MARTIN MIDSTREAM LLC,

                          By: Martin Resource Management Corporation,
                              Its sole member

                              By:
                                 ----------------------------------------------
                              Name:
                                   --------------------------------------------
                              Title:
                                    -------------------------------------------

                          GRANTEE

                          MARTIN OPERATING PARTNERSHIP L.P.

                          By: Martin Operating GP LLC,
                              Its general partner

                              By: Martin Resource LLC,
                                  Its sole member

                                  By: Martin Resource Management Corporation,
                                      Its sole member

                                      By:
                                         --------------------------------------
                                      Name:
                                           ------------------------------------
                                      Title:
                                            -----------------------------------

                               D-4

<PAGE>
THE STATE OF TEXAS                  )
                                    )
COUNTY OF _________                 )

         This instrument was acknowledged before me on the ____ day of
___________, 2002, by ______________, ______________ of [.], on behalf of and in
[HIS/HER] capacity as __________ of [.].

                                       ----------------------------------------
                                       NOTARY PUBLIC

My Commission Expires:

------------------------

THE STATE OF TEXAS                  )
                                    )
COUNTY OF _________                 )

         This instrument was acknowledged before me on the ____ day of
___________, 2002, by ______________, ______________ of [.], on behalf of and in
[HIS/HER] capacity as __________ of [.].

                                       ----------------------------------------
                                       NOTARY PUBLIC

My Commission Expires:

------------------------

                                       D-5

<PAGE>

                                   SCHEDULE A

                                      D-6

<PAGE>

                                    EXHIBIT E

<PAGE>

                          AGREEMENT AND PLAN OF MERGER

                                     BETWEEN

                              MARTIN GAS MARINE LLC

                                       AND

                        MARTIN OPERATING PARTNERSHIP L.P.

                          DATED AS OF NOVEMBER 1, 2002

<PAGE>

                          AGREEMENT AND PLAN OF MERGER

         This AGREEMENT AND PLAN OF MERGER (this "Agreement"), dated as of
November __, 2002, but effective as of the Effective Time (as defined in Section
1.2), between Martin Gas Marine LLC, a Texas limited liability company
("Marine"), and Martin Operating Partnership L.P., a Delaware limited
partnership (the "Partnership");

                                   WITNESSETH:

         WHEREAS, the sole member of Marine has determined that it is in the
best interests of Marine sole member to effectuate a merger whereby Marine will
be merged with and into the Partnership with the Partnership being the surviving
entity (the "Merger");

         WHEREAS, Martin Operating GP LLC, a Delaware limited liability company
and the General Partner of the Partnership (the "General Partner"), has
determined that it is in the best interests of the Partnership and its partners
to effectuate the Merger;

         WHEREAS, the sole member of Marine and the sole member of the General
Partner have each approved the Merger, upon the terms and subject to the
conditions set forth in this Agreement; and

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

                                  ARTICLE VII
                                   THE MERGER

         Section 1.1 The Merger. Subject to the terms and conditions of this
Agreement, and in accordance with the Texas Limited Liability Company Act (the
"TLLCA") and the Delaware Revised Uniform Limited Partnership Act (the
"DRULPA"), at the Effective Time, Marine shall be merged with and into the
Partnership in accordance with this Agreement, and the separate corporate
existence of Marine shall thereupon cease. The Partnership shall continue as the
surviving entity in the Merger (sometimes hereinafter referred to as the
"Surviving Entity"), and all the properties, rights, privileges, powers and
franchises of Marine shall vest in the Surviving Entity without any transfer or
assignment having occurred, and all debts, liabilities and duties of Marine
shall attach to the Surviving Entity, all in accordance with the TBCA and the
DRULPA.

         Section 1.2 Filing Certificate of Merger; Effective Time. As soon as
practicable following the satisfaction or, to the extent permitted by applicable
law, waiver of the conditions set forth in Article IV, if this Agreement shall
not have been terminated prior thereto as provided in Section 5.1, Marine and
the Partnership shall cause (i) articles of merger meeting the requirements of
the TLLCA (the "Articles of Merger") and (ii) a certificate of merger meeting
the requirements of Section 17-211 of the DRULPA (together with the Articles of
Merger, the "Merger Filings") to be properly executed and filed in accordance
with each such section. The

<PAGE>

Merger shall become effective at the later of (1) the time of filing of the
Merger Filings with the Secretaries of State of the States of Texas and Delaware
and (2) at 12:01 a.m. Eastern time on November __, 2002 (the "Effective Time").

                                   ARTICLE II
                                SURVIVING ENTITY

         Section 2.1 Name of Surviving Entity. The name of the Surviving Entity
shall be "Martin Operating Partnership L.P."

         Section 2.2 Certificate of Limited Partnership of Surviving Entity. The
Certificate of Limited Partnership of the Partnership shall continue to be the
Certificate of Limited Partnership of the Surviving Entity until amended as
provided therein and under the DRULPA.

                                  ARTICLE III
                          CANCELLATION OF COMMON STOCK

         Section 3.1 Cancellation of Membership Interests in the Merger. At the
Effective Time, by virtue of the Merger and without any action on the part of
Marine or the sole member of Marine, all outstanding membership interests in
Marine shall be automatically cancelled.

                                   ARTICLE IV
                              CONDITIONS PRECEDENT

         The respective obligation of each party to effect the Merger is subject
to the satisfaction or waiver of the following conditions:

                  (a) None of the parties hereto shall be subject to any decree,
         order or injunction of a court of competent jurisdiction, U.S. or
         foreign, which prohibits the consummation of the Merger.

                  (b) Other than the filing of the Merger Filings provided for
         under Article I, all material consents, appeals, authorizations of, or
         filings or registrations with and notices to any governmental or
         regulatory authority required of Marine and the Partnership or any of
         their subsidiaries to consummate the Merger and the other transactions
         contemplated hereby, shall have been made or obtained.

                  (c) Any consents required under instruments evidencing
         indebtedness and any consents required under any contracts to which
         Marine or any subsidiary of Marine is a party, shall have been
         obtained.

                                      E-2

<PAGE>

                                   ARTICLE V
                        TERMINATION, AMENDMENT AND WAIVER

         Section 5.1 Termination. This Agreement may be terminated at any time
prior to the Effective Time by action of the sole member of Marine or the
General Partner.

         Section 5.2 Effect of Termination. In the event of termination of this
Agreement as provided in Section 5.1, this Agreement shall forthwith become void
and have no effect, without any liability or obligation on the part of Marine or
the Partnership.

         Section 5.3 Amendment. This Agreement may not be amended except by an
instrument in writing signed on behalf of each of the parties hereto.

         Section 5.4 Waiver. At any time prior to the Effective Time, the
parties may waive compliance by the other parties with any of the agreements
contained in this Agreement, or may waive any of the conditions to consummation
of the Merger contained in this Agreement. Any agreement on the part of a party
to any such waiver shall be valid only if set forth in an instrument in writing
signed on behalf of such party. The failure of any party to this Agreement to
assert any of its rights under this Agreement or otherwise shall not constitute
a waiver of such rights.

                                   ARTICLE VI
                               GENERAL PROVISIONS

         Section 6.1 Assignment; Binding Effect; Benefit. Neither this Agreement
nor any of the rights, interests or obligations hereunder shall be assigned by
any of the parties hereto (whether by operation of law or otherwise) without the
prior written consent of the other parties. Subject to the preceding sentence,
this Agreement shall be binding upon and shall inure to the benefit of the
parties hereto and their respective successors and assigns. Notwithstanding
anything contained in this Agreement to the contrary, nothing in this Agreement,
expressed or implied, is intended to confer on any person other than the parties
hereto or their respective successors and assigns any rights, remedies,
obligations or liabilities under or by reason of this Agreement.

         Section 6.2 Entire Agreement. This Agreement and any documents
delivered by the parties in connection herewith constitute the entire agreement
among the parties with respect to the subject matter hereof and supersede all
prior agreements and understandings among the parties with respect thereto. No
addition to or modification of any provision of this Agreement shall be binding
upon any party hereto unless made in writing and signed by all parties hereto.

         Section 6.3 Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of Delaware without regard to
its rules of conflict of laws.

         Section 6.4 Counterparts. This Agreement may be executed by the parties
hereto in separate counterparts, each of which when so executed and delivered
shall be an original, but all

                                       E-3

<PAGE>

such counterparts shall together constitute one and the same instrument. Each
counterpart may consist of a number of copies hereof each signed by less than
all, but together signed by all of the parties hereto.

         Section 6.5 Headings. Headings of the Articles and Sections of this
Agreement are for the convenience of the parties only and shall be given no
substantive or interpretative effect whatsoever.

                                       E-4

<PAGE>

         IN WITNESS WHEREOF, Marine and the Partnership have caused this
Agreement to be signed by their respective officers thereunto duly authorized,
all as of the date first written above.

                          MARTIN GAS MARINE LLC

                          By: Martin Operating Partnership L.P.
                              Its Sole member

                              By: Martin Operating GP LLC
                                  Its General Partner

                                  By: Martin Midstream Partnership L.P.,
                                      Its Sole Member

                                      By: Martin Midstream GP LLC

                                          By:
                                             ----------------------------------
                                          Name:
                                               --------------------------------
                                          Title:
                                                -------------------------------

                              MARTIN OPERATING PARTNERSHIP L.P.

                              By: Martin Operating GP LLC
                                  Its General Partner

                                  By: Martin Midstream Partnership L.P.,
                                      Its Sole Member

                                      By: Martin Midstream GP LLC

                                          By:
                                             ----------------------------------
                                          Name:
                                               --------------------------------
                                          Title:
                                                -------------------------------

                                       E-5

<PAGE>

                                  SCHEDULE 3.1

                       DESCRIPTION OF ASSUMED INDEBTEDNESS

1.       $17,700,000 of the Indebtedness outstanding under that certain Amended
         and Restated Credit Agreement dated April 16, 2001, by and among Martin
         Resource Management Corporation ("Martin Resource"), certain
         subsidiaries of Martin Resource, the lenders from time to time party
         thereto and JP Morgan Chase Bank, as administrative agent for the
         lenders.

2.       Term loan, in the original principal amount of $25,000,000, pursuant to
         that certain Credit Agreement dated April 16, 2001, by and among Martin
         Resource, certain subsidiaries of Martin Resource and General Electric
         Capital Corporation, for Itself and as Agent for Certain Participants.

3.       Senior subordinated notes due December 15, 2006, in an aggregate
         principal amount of $30,000,000, issued by Martin Resource to J.P.
         Morgan Partners (SBIC), LLC pursuant to a Senior Subordinated Note
         Purchase Agreement dated as of December 16, 1998.

4.       Promissory note by Martin Gas Marine, Inc. ("MGM") dated September 25,
         1997 in favor of U.S. Bancorp Equipment Finance, Inc. (f/k/a U.S.
         Bancorp Leasing & Financial) ("U.S. Bancorp") in the original principal
         amount of $12,000,000.

5.       Indebtedness of MGM under the (i) Amended and Restated Schedule No. 002
         to Master Charter Agreement, dated December 30, 1997, between MGM and
         U.S. Bancorp, requiring 120 monthly payments, which currently are
         $20,849.93 and increase to $25,483.25 beginning with the 61st payment
         and (ii) Amended and Restated Schedule No. 003 to Master Charter
         Agreement, dated December 30, 1997, between MGM and U.S. Bancorp,
         requiring 120 monthly payments, which currently are $20,849.93 and
         increase to $25,483.25 beginning with the 61st payment.

                                       E-6<PAGE>
                                                                    EXHIBIT 10.3

                                                                  EXECUTION COPY

================================================================================

                                OMNIBUS AGREEMENT

                                     BETWEEN

                     MARTIN RESOURCE MANAGEMENT CORPORATION,

                            MARTIN MIDSTREAM GP LLC,

                         MARTIN MIDSTREAM PARTNERS L.P.

                                       AND

                        MARTIN OPERATING PARTNERSHIP L.P.

================================================================================

<PAGE>

                                OMNIBUS AGREEMENT

         THIS OMNIBUS AGREEMENT is entered into as of November 1, 2002 by and
among Martin Resource Management Corporation, a Texas corporation ("MRMC"),
Martin Midstream GP LLC, a Delaware limited liability company (the "General
Partner"), Martin Midstream Partners L.P., a Delaware limited partnership (the
"Partnership"), and Martin Operating Partnership L.P. (the "Operating
Partnership"). The above-named entities are sometimes referred to in this
Agreement each as a "Party" and collectively as the "Parties."

                                   RECITALS:

         WHEREAS, MRMC and its Affiliates (as defined herein) formed the
Partnership, the General Partner and the Operating Partnership for the purpose
of conducting of the Business (as defined below);

         WHEREAS, certain assets and services used by MRMC or its Affiliates in
the conduct of the Business prior to the formation of the Partnership were not
transferred to the Partnership;

         WHEREAS, the Parties desire to ensure the continued effective operation
of the Business, and the Parties recognize that the continued effective
operation of the Business requires that MRMC provide certain management and
employee services to the Business as set forth in this Agreement;

         WHEREAS, the Parties desire to evidence their understanding, as more
fully set out in this Agreement, with respect to those business opportunities
that MRMC will not engage in for so long as the Partnership is an Affiliate of
MRMC unless the Partnership has declined to engage in any such business
opportunity for its own account and the procedures whereby such business
opportunities are to be offered to the Partnership and accepted or declined;

         WHEREAS, the Operating Partnership owns a 49.5% limited partner
interest in CF Martin Sulphur, L.P., a Delaware limited partnership ("CF
Martin") and the Parties desire to evidence their understanding, as more fully
set out in this Agreement, regarding the exercise by MRMC of its rights in
relation to the management and operation of CF Martin through MRMC's ownership
of 50% of C.F. Martin Sulphur, L.L.C., a Delaware limited liability company and
the general partner of CF Martin (the "CF Martin GP"); and

         WHEREAS, the Parties desire to evidence other agreements and
relationships, as more fully set out in this Agreement, with respect to the
transfer of the Business to the Partnership and the Operating Partnership as
well as the operation of the Business by the Partnership and the Operating
Partnership.

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

<PAGE>
                                                                  EXECUTION COPY

                                   ARTICLE I
                                   DEFINITIONS

         DEFINITIONS. As used in this Agreement, the following terms shall have
the respective 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.

                  "Agreement" means this Omnibus Agreement, as it may be
         amended, modified, or supplemented from time to time in accordance with
         Section 6.8 hereof.

                  "Allocated General and Administrative Expenses" means expenses
         associated with general and administrative services provided by MRMC
         and its Subsidiaries (other than the Partnership and its Subsidiaries),
         including, but not limited to, certain management, engineering,
         accounting, finance, information technology, insurance, human resource,
         administration of employee benefit plans and other shared corporate
         services, that are allocated to the Partnership by MRMC on the same
         basis as these types of expenses are allocated among MRMC and its
         Subsidiaries (other than the Partnership and its Subsidiaries).

                  "Assets" means the "Contributed Assets" as such term is
         defined in the Contribution Agreement.

                  "Business" means (i) providing marine transportation,
         terminalling, distribution and midstream logistical services for
         hydrocarbon products and by-products, and (ii) manufacturing and
         marketing fertilizers and related sulfur-based products.

                  "CF Martin" is defined in the Recitals to this Agreement.

                  "CF Martin GP" is defined in the Recitals to this Agreement.

                  "CF Martin GP Agreement" means the Limited Liability Company
         Agreement of CF Martin GP, dated November 22, 2000, as amended to date.

                  "CF Martin LP Agreement" means the Agreement of Limited
         Partnership of C.F. Martin, dated November 22, 2000, as amended to
         date.

                  "Closing Date" means the date of the closing of the
         Partnership's initial public offering of Common Units of the
         Partnership.

                  "Conflicts Committee" is defined in the Partnership Agreement.

                                       2
<PAGE>
                                                                  EXECUTION COPY

                  "Consumer Price Index" means the "Consumer Price Index for
         Urban Wage Earners and Clerical Workers (1967 = 100)" specified for
         "All Item - United States" compiled by the Bureau of Labor Statistics
         for the United States.

                  "control" means the possession, directly or indirectly, 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.

                  "Contribution Agreement" means the Contribution, Conveyance
         and Assumption Agreement, dated October 31, 2002, by and among various
         MRMC Entities, the Partnership, the Operating Partnership, the General
         Partner and Martin Operating GP LLC, a Delaware limited liability
         company.

                  "Covered Environmental Losses" is defined in Section 3.1(a).

                  "Environmental Laws" means all federal, state, and local laws,
         statutes, rules, regulations, orders, and ordinances, now or hereafter
         in effect, relating to protection of human health and the environment
         including, without limitation, the federal Comprehensive Environmental
         Response, Compensation, and Liability Act, the Superfund Amendments
         Reauthorization Act, the Resource Conservation and Recovery Act, the
         Clean Air Act, the Federal Water Pollution Control Act, the Toxic
         Substances Control Act, the Oil Pollution Act, the Safe Drinking Water
         Act, the Hazardous Materials Transportation Act, and other
         environmental conservation and protection laws, each as amended from
         time to time.

                  "Exchange Act" means the Securities Exchange Act of 1934, as
         amended.

                  "General Partner" is defined in the introduction to this
         Agreement.

                  "Hazardous Substance" means any substance that is designated,
         defined, or classified as a hazardous waste, hazardous material,
         pollutant, contaminant, or toxic or hazardous substance, or that is
         otherwise regulated under any Environmental Law, including, without
         limitation, any hazardous substance as defined under the Comprehensive
         Environmental Response, Compensation, and Liability Act.

                  "Indemnified Party" means the Partnership Entities or the MRMC
         Entities, as the case may be, in their capacity as the parties entitled
         to indemnification in accordance with Article III.

                  "Indemnifying Party" means either the Partnership Entities or
         the MRMC Entities, as the case may be, in its capacity as the parties
         from whom indemnification may be sought in accordance with Article III.

                  "Indirect Expenses Limit" is defined in Section 4.2(a).

                  "J.V. Management Rights" is defined in Section 6.2.

                                       3
<PAGE>
                                                                  EXECUTION COPY

                  "Losses" means any losses, damages, liabilities, claims,
         demands, causes of action, judgments, settlements, fines, penalties,
         costs, and expenses (including, without limitation, court costs and
         reasonable attorney's and expert's fees) of any and every kind or
         character.

                  "Martin Manager" is defined in the CF Martin GP Agreement.

                  "MRMC" is defined in the introduction to this Agreement.

                  "MRMC Entities" means MRMC and each of its Subsidiaries (other
         than the General Partner, the Partnership and any Subsidiary of the
         Partnership).

                  "Names and Marks" means the tradenames and logos attached
         hereto on Schedule 1.

                  "Offer" is defined in Section 2.3(b).

                  "Partnership" is defined in the introduction to this
         Agreement.

                  "Partnership Agreement" means the First Amended and Restated
         Agreement of Limited Partnership of the Martin Midstream Partners L.P.,
         dated as of, and in the form on, the Closing Date. No amendment or
         modification to the Partnership Agreement subsequent to the Closing
         Date shall be given effect for the purposes of this Agreement unless
         consented to by each of the Parties to this Agreement.

                  "Partnership Entities" means the Partnership, the General
         Partner, and each Subsidiary of the Partnership.

                  "Party" and "Parties" is defined in the introduction to this
         Agreement.

                  "Pass-Through Environmental Losses" is defined in Section
         3.1(b).

                  "Person" means an individual or a corporation, limited
         liability company, partnership, joint venture, trust, unincorporated
         organization, association, government agency or political subdivision
         thereof or other entity.

                  "Restricted Portion" is defined in Section 2.2(c)(iv).

                  "Retained Assets" means, collectively, (i) any assets and
         investments owned by any of the MRMC Group that were not conveyed,
         contributed or otherwise transferred to any of the Partnership Entities
         prior to or on the Closing Date, and (ii) the "Retained Assets" as such
         term is defined in the Contribution Agreement.

                  "Services" is defined in Section 4.1.

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                  "Subject Assets" is defined in Section 2.2(c).

                  "Subsidiary" means, with respect to any Person, (a) a
         corporation of which more than 50% of the Voting Power 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
         or limited partner of such partnership, but only if more than 50% of
         the partnership interests of such partnership (considering all of the
         partnership interests of the partnership as a single class) 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,
         or (c) any other Person (other than a corporation or a partnership) 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) at least 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.

                  "Venture Interest" is defined in the CF Martin LP Agreement.

                  "Voting Stock" means securities of any class of a Person
         entitling the holders thereof to vote on a regular basis in the
         election of members of the board of directors or other governing body
         of such Person.

                                   ARTICLE II
                             BUSINESS OPPORTUNITIES

         2.1 RESTRICTED ACTIVITIES. For so long as MRMC controls the General
Partner, or any subsequent general partner of the Partnership and except as
permitted by Section 2.2, MRMC shall be prohibited from engaging in, directly or
indirectly through an Affiliate, whether by acquisition, construction or
otherwise, the Business.

         2.2 PERMITTED EXCEPTIONS. Notwithstanding any provision of Section 2.1
to the contrary, MRMC and its Affiliates may engage in the following activities
under the following circumstances:

                  (a) The ownership and/or operation of any of the Retained
Assets (including replacements of and modifications or additions to the Retained
Assets) and the conduct of the businesses operated by MRMC and its Affiliates on
the Closing Date that were not transferred to the Partnership Entities and that
are described on Schedule 2.2(a);

                  (b) The operation on behalf of a member of any Partnership
Entity of any asset or group of assets owned by any Partnership Entity;

                  (c) The ownership and/or operation of any asset or group of
related assets used in a Business that are acquired or constructed by MRMC or
any of its Affiliates (other than any of the Partnership Entities) after the
date of this Agreement (the "Subject Assets") if:

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                  (i) the fair market value of the Subject Assets (as determined
         in good faith by the Board of Directors of MRMC) is less than $5.0
         million at the time of such acquisition by any of the MRMC Entities or
         completion of construction, as the case may be;

                  (ii) in the case of an acquisition of Subject Assets with a
         fair market value (as determined in good faith by the Board of
         Directors of MRMC) equal to or greater than $5.0 million at the time of
         such acquisition by MRMC, the Partnership has been offered the
         opportunity to purchase the Subject Assets within 90 days of such
         acquisition in accordance with Section 2.3(b) and the Partnership (with
         the concurrence of the Conflicts Committee) has elected not to purchase
         the Subject Assets;

                  (iii) in the case of the construction of Subject Assets with a
         fair market value (as determined in good faith by the Board of
         Directors of MRMC) equal to or greater than $5.0 million at the time of
         completion of construction, the Partnership has been offered the
         opportunity to purchase the Subject Assets in accordance with Section
         2.3(b) and the Partnership (with the concurrence of the Conflicts
         Committee) has elected not to purchase the Subject Assets; or

                  (iv) in case of the acquisition or construction of any Subject
         Assets, a portion of which participate in a Business (the "Restricted
         Portion"), where the Restricted Portion has a fair market value (as
         determined in good faith by the Board of Directors of MRMC) that is (i)
         greater than $5.0 million and (ii) less than 20% of the aggregate value
         of the business or assets acquired or constructed (as determined in
         good faith by the Board of Directors of MRMC), the Partnership is
         offered the opportunity to purchase the Subject Assets related to the
         Restricted Portion in accordance with Section 2.3(b) and the
         Partnership (with the concurrence of the Conflicts Committee) has
         elected not to purchase such Subject Assets.

         2.3 PROCEDURES.

             (a) If any of the MRMC Entities becomes aware of an opportunity to
purchase Subject Assets described in Section 2.2(c)(ii), then as soon as
practicable, MRMC shall notify the General Partner of such opportunity and
deliver to the General Partner all information prepared by or on behalf of MRMC
relating to such potential purchase. As soon as practicable but in any event
within 30 days after receipt of such notification and information, the General
Partner, on behalf of the Partnership, shall notify MRMC that either (i) the
General Partner, on behalf of the Partnership, has elected, with the approval of
the Conflicts Committee, not to cause any of the Partnership Entities to pursue
the opportunity to acquire such Subject Assets, or (ii) the General Partner, on
behalf of the Partnership, has elected to cause any of the Partnership Entities
to pursue the opportunity to acquire such Subject Assets. If, at any time, the
General Partner abandons such opportunity with the approval of the Conflicts
Committee (as evidenced in writing by the General Partner following the request
of MRMC), MRMC may pursue such opportunity. Any Subject Assets that are
permitted to be purchased by MRMC pursuant to this Section 2.3(a) must be so
purchased (i) within 12 months of the time MRMC becomes able to pursue such
opportunity in accordance with the provisions of this Section 2.3(a) and (ii) on
terms

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not materially more favorable to MRMC than were offered to the Partnership. If
either of these conditions are not satisfied, the opportunity must be reoffered
to the Partnership in accordance with this Section 2.3(a).

             (b) If any MRMC Entity constructs or acquires Subject Assets as
described in Section 2.2(c)(iii) and (iv), then not later than 90 days after the
consummation of the completion of construction or acquisition by any MRMC Entity
of the Subject Assets, as the case may be, MRMC shall notify the General Partner
in writing of such construction or acquisition and offer the Partnership
Entities the opportunity to purchase the Subject Assets or, in the case of
Subject Assets described in Section 2.2(c)(iv), the Subject Assets related to
the Restricted Portion, in each case for their fair market value in accordance
with this Section 2.3 (the "Offer"). The Offer shall set forth MRMC's proposed
terms relating to the construction or purchase of such Subject Assets by any of
the Partnership Entities. MRMC will provide all information concerning the
business, operations and finances of such Subject Assets as may be reasonably
requested by the General Partner. As soon as practicable, but in any event
within 60 days after receipt of such written notification, the General Partner
shall notify MRMC in writing that either (i) the General Partner has elected,
with the approval of the Conflicts Committee, not to cause any of the
Partnership Entities to purchase such Subject Assets, in which event MRMC shall
be forever free to continue to own or operate such Subject Assets; provided,
however, that any future acquisitions or opportunities related to such
particular Subject Assets (except for expansions of existing facilities and
except as provided in Section 2.2(c)(i)) shall be subject to the procedures set
forth in this Section 2.3, or (ii) the General Partner has elected to cause any
of the Partnership Entities to purchase such Subject Assets, in which event the
procedures outlined in this Section 2.3 shall apply.

             (c) After the receipt of such Offer by the General Partner, MRMC
and the General Partner shall negotiate in good faith the terms on which such
Subject Assets will be sold to a Partnership Entity. If MRMC and the General
Partner (with the concurrence of the Conflicts Committee) are able to agree on
the fair market value of the Subject Assets that are subject to the Offer and
the other terms of the Offer within 60 days after receipt by the General Partner
of the Offer, one or more of the Partnership Entities shall purchase such
Subject Assets for the agreed upon fair market value as soon as commercially
practicable after such agreement has been reached.

             (d) If MRMC and the General Partner are unable to agree on the fair
market value of the Subject Assets that are subject to the Offer or the other
terms of the Offer within 60 days after receipt by the General Partner of the
Offer, MRMC and the General Partner will engage a mutually agreed upon,
nationally recognized investment banking firm to determine the fair market value
of such Subject Assets. Such investment banking firm will determine the fair
market value of such Subject Assets within 30 days of its engagement and furnish
MRMC and the General Partner its determination. The fees and expenses of the
investment banking firm will be split equally between MRMC and the Partnership
Entities. Once the investment banking firm has submitted its determination of
the fair market value of the Subject Assets, the General Partner will have the
right, but not the obligation, subject to the approval of the Conflicts
Committee, to cause one or more of the Partnership Entities to purchase such
Subject Assets pursuant to the Offer as modified by the determination of the
investment banking firm. If the General Partner elects to cause one or more of
the Partnership Entities to purchase such Subject

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Assets, then such Partnership Entities shall purchase such Subject Assets
pursuant to the Offer as modified by the determination of the investment banking
firm as soon as commercially practicable after such determination. If the
General Partner elects not to cause any of the Partnership Entities to purchase
such Subject Assets, MRMC shall be forever free to continue to own or operate
such Subject Assets; provided, however, that any future acquisitions or
opportunities related to such Subject Assets (except for expansions of existing
facilities and except as provided in Section 2.2(c)(i)) shall be subject to the
procedures set forth in this Section 2.3.

         2.4 SCOPE OF PROHIBITION. Except as provided in this Article II and the
Partnership Agreement, each of MRMC and its Affiliates shall be free to engage
in any business activity whatsoever, including those that may be in direct
competition with any Partnership Entity.

         2.5 ENFORCEMENT. MRMC agrees and acknowledges that the Partnership
Entities do not have an adequate remedy at law for the breach by MRMC of the
covenants and agreements set forth in this Article II, and that any breach by
MRMC of the covenants and agreements set forth in Article II would result in
irreparable injury to the Partnership Entities. MRMC further agree and
acknowledge that any member of the Partnership Entities may, in addition to the
other remedies which may be available to the Partnership Entities, file a suit
in equity to enjoin MRMC from such breach, and consent to the issuance of
injunctive relief under this Agreement.

                                  ARTICLE III
                                 INDEMNIFICATION

         3.1 ENVIRONMENTAL INDEMNIFICATION.

             (a) Subject to the limitations contained in this Section 3.1(a),
MRMC shall indemnify, defend and hold harmless each of the Partnership Entities
from and against environmental and toxic tort Losses suffered or incurred by any
of the Partnership Entities by reason of or arising out of:

                  (i) any violation or correction of violation of Environmental
         Laws associated with the Assets or the Retained Assets, or

                  (ii) any event or condition associated with the ownership or
         operation of the Assets or the Retained Assets (including, without
         limitation, the presence of Hazardous Substances on, under, about or
         migrating to or from the Assets or the Retained Assets or the disposal
         or release of Hazardous Substances generated by operation of the Assets
         or the Retained Assets at non-Asset locations) including, without
         limitation, (A) the cost and expense of any investigation, assessment,
         evaluation, monitoring, containment, cleanup, repair, restoration,
         remediation, or other corrective action required or necessary under
         Environmental Laws, (B) the cost or expense of the preparation and
         implementation of any closure, remedial, corrective action, or other
         plans required or necessary under Environmental Laws, and (C) the cost
         and expense for any environmental or toxic tort pre-trial, trial, or
         appellate legal or litigation support work;

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but only to the extent that such violation complained of under Section 3.1(a)(i)
or such events or conditions included under Section 3.1(a)(ii) occurred before
the Closing Date and only to the extent that a written notice of such violation,
event or condition is given to MRMC by the Partnership within five years
following the Closing Date (collectively, "Covered Environmental Losses"). In no
event shall the aggregate liability of MRMC pursuant to this Section 3.1(a)
exceed $7,500,000.

             (b) MRMC shall indemnify, defend and hold harmless any of the
Partnership Entities from and against any Losses suffered or incurred by any of
the Partnership Entities to the extent that MRMC is entitled to and receives
indemnification, is defended or held harmless against any such Losses from any
third-party pursuant to any agreement between any third-party and MRMC
(collectively, "Pass-Through Environmental Losses"). In furtherance of such
agreement, MRMC agrees to use its best commercially reasonable efforts to
pursue, for the benefit of the Partnership Entities, any such indemnification
with respect to which it might be entitled if requested by the Partnership;
provided that, the Partnership shall reimburse MRMC for all costs and expenses
incurred in connection with pursuing such indemnity on behalf of the
Partnership.

             (c) The Partnership shall indemnify, defend and hold harmless MRMC
from and against Losses suffered or incurred by any of the MRMC Entities by
reason of or arising out of:

                  (i) any violation or correction of violation of Environmental
         Laws associated with the Assets, or

                  (ii) any event or condition associated with ownership or
         operation of the Assets (including, but not limited to, the presence of
         Hazardous Substances on, under, about or migrating to or from the
         Assets or the disposal or release of Hazardous Substances generated by
         operation of the Assets at non-Asset locations) including, without
         limitation, (A) the cost and expense of any investigation, assessment,
         evaluation, monitoring, containment, cleanup, repair, restoration,
         remediation, or other corrective action required or necessary under
         Environmental Laws, (B) the cost or expense of the preparation and
         implementation of any closure, remedial, corrective action, or other
         plans required or necessary under Environmental Laws, and (C) the cost
         and expense for any environmental or toxic tort pre-trial, trial, or
         appellate legal or litigation support work;

and regardless of whether such violation complained of under Section 3.1(c)(i)
or such events or conditions included under Section 3.1(c)(ii) occurred before
or after the Closing Date, except to the extent that any of the foregoing are
Covered Environmental Losses or Pass-Through Environmental Losses for which the
Partnership Entities are entitled to indemnification from MRMC under this
Article III.

         3.2 Additional Indemnification

             (a) In addition to and not in limitation of the indemnification
provided under Sections 3.1(a), 3.1(b) and 5.5, MRMC shall indemnify, defend,
and hold harmless the

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Partnership Entities from and against any Losses suffered or incurred by the
Partnership Entities by reason of or arising out of:

                  (i) any events and conditions associated with the ownership or
         operation of the Retained Assets, whether occurring before or after the
         Closing Date,

                  (ii) the failure of the Partnership Entities to be the owner
         of such valid leasehold interests or fee ownership interests in and to
         the Assets as are necessary to enable the Partnership Entities to
         continue to own and operate the Assets and the Business in the same
         manner that the Assets and the Business were owned and operated by the
         MRMC Entities during the one-year period immediately prior to the
         Closing date to the extent that MRMC is notified of any of the
         foregoing within four years after the Closing Date,

                  (iii) the failure of the Partnership Entities to have any
         consent or permit necessary to allow the Partnership Entities to own or
         operate the Assets and the Business in the same manner that the Assets
         and the Business were owned and operated by the MRMC Entities during
         the one-year period immediately prior to the Closing date to the extent
         that MRMC is notified of any of the foregoing within three years after
         the Closing Date,

                  (iv) the currently pending legal actions against MRMC set
         forth on Schedule 3.2 hereto, and

                  (v) all federal, state and local income tax liabilities
         attributable to the operation of the Assets prior to the Closing Date,
         including any such income tax liabilities of MRMC that may result from
         the consummation of the transactions contemplated by the Contribution
         Agreement.

             (b) In addition to and not in limitation of the indemnification
provided under Sections 3.1(c) and 5.5, or under the Partnership Agreement, the
Partnership shall indemnify, defend, and hold harmless the MRMC Entities from
and against any Losses suffered or incurred by any of the MRMC Entities by
reason of or arising out of events and conditions associated with:

                  (i) the operation of the Assets and the Business, and

                  (ii) the performance of the Services by MRMC and/or its
         employees pursuant to this Agreement (provided that MRMC is not in
         breach of this Agreement),

in each case occurring on or after the Closing Date (other than Covered
Environmental Losses which are provided for under Section 3.1), unless in any
such case such indemnification would not be permitted under Section 7.7 of the
Partnership Agreement.

         3.3 INDEMNIFICATION PROCEDURES.

             (a) The Indemnified Party agrees that within a reasonable period of
time after it becomes aware of facts giving rise to a claim for indemnification
under this Article III, it will

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provide notice thereof in writing to the Indemnifying Party, specifying the
nature of and specific basis for such claim.

             (b) The Indemnifying Party shall have the right to control all
aspects of the defense of (and any counterclaims with respect to) any claims
brought against the Indemnified Party that are covered by the indemnification
under this Article III, including, without limitation, the selection of counsel,
determination of whether to appeal any decision of any court and the settling of
any such matter or any issues relating thereto; provided however, that no such
settlement shall be entered into without the consent of the Indemnified Party
unless it includes a full release of the Indemnified Party from such matter or
issues, as the case may be.

             (c) The Indemnified Party agrees to cooperate fully with the
Indemnifying Party, with respect to all aspects of the defense of any claims
covered by the indemnification under this Article III, including, without
limitation, the prompt furnishing to the Indemnifying Party of any
correspondence or other notice relating thereto that the Indemnified Party may
receive, permitting the name of the Indemnified Party to be utilized in
connection with such defense, the making available to the Indemnifying Party of
any files, records or other information of the Indemnified Party that the
Indemnifying Party considers relevant to such defense and the making available
to the Indemnifying Party of any employees of the Indemnified Party; provided
however, that in connection therewith the Indemnifying Party agrees to use
reasonable efforts to minimize the impact thereof on the operations of the
Indemnified Party. In no event shall the obligation of the Indemnified Party to
cooperate with the Indemnifying Party as set forth in the immediately preceding
sentence be construed as imposing upon the Indemnified Party an obligation to
hire and pay for counsel in connection with the defense of any claims covered by
the indemnification set forth in this Article III; provided however, that the
Indemnified Party may, at its own option, cost and expense, hire and pay for
counsel in connection with any such defense. The Indemnifying Party agrees to
keep any such counsel hired by the Indemnified Party reasonably informed as to
the status of any such defense, but the Indemnifying Party shall have the right
to retain sole control over such defense.

             (d) In determining the amount of any Losses for which the
Indemnified Party is entitled to indemnification under this Agreement, the gross
amount of the indemnification will be reduced by (i) any insurance proceeds
realized or to be realized by the Indemnified Party, and such correlative
insurance benefit shall be net of any incremental insurance premium that becomes
due and payable by the Indemnified Party as a result of such claim and (ii) all
amounts recovered or recoverable by the Indemnified Party under contractual
indemnities from third parties.

                                   ARTICLE IV
                     SERVICES AND RELATED PARTY TRANSACTIONS

         4.1 SERVICES. During the term of this Agreement, MRMC agrees to provide
(either directly or through its Subsidiaries) on behalf of the General Partner
in accordance with Article VII of the Partnership Agreement, the employees or
independent contractors, corporate staff, support services and administrative
services necessary to operate the Business (the "Services"). MRMC shall perform
the Services in a manner that is substantially identical in nature and quality
to the services performed by MRMC for the Business during the one-year period
immediately

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prior to the Closing Date. The General Partner and the Partnership agree that
MRMC shall be reimbursed for all costs and expenses incurred in connection with
the performance of the Services as if it were the General Partner in accordance
with Section 7.4(b) and 7.6(c) of the Partnership Agreement, subject to the
limitations set forth in Section 4.2 of this Agreement.

         4.2 GENERAL AND ADMINISTRATIVE REIMBURSEMENT.

             (a) Except as provided in Section 4.2(b) below, the amount for
which MRMC shall be entitled to reimbursement from the Partnership pursuant to
the last sentence of Section 4.1 for Allocated General and Administrative
Expenses shall not exceed $1.0 million in the aggregate in the first year
following the date of this Agreement (the "Indirect Expenses Limit). Thereafter,
the Indirect Expenses Limit shall be increased annually by no more than the
percentage increase in the Consumer Price Index for the applicable year.
Additionally, MRMC and the General Partner may agree, with the consent of the
Conflicts Committee, to further increases to the Indirect Expenses Limit in
order to account for adjustments in the nature of the Services as the result of
acquisitions by the Partnership or other expansions of the Business.

             (b) Notwithstanding Section 4.2(a), the Indirect Expenses Limit
will not apply to (i) the cost of any third party legal, accounting or advisory
services received, or the direct expenses of MRMC incurred in connection with
acquisition or business development opportunities evaluated on behalf of the
Partnership; or (ii) expenses directly attributable to the operation of the
Partnership, its assets or the Business.

         4.3 DESIGNATION OF AGENTS. In connection with the provision of the
Services by the employees of MRMC, the General Partner, on behalf of the
Partnership, hereby appoints and empowers MRMC and each current and future
employee of MRMC who is fulfilling a job function for the Partnership in
connection with the conduct by the Partnership of its business in the ordinary
course, as agent of the Partnership with full power and authority to execute and
deliver on behalf of the Partnership, any documents, contracts, governmental
filings or other instruments commensurate with, but limited to, such job
function. The power and authority granted pursuant to this Section 4.3 to a
person described in the preceding sentence will be valid only for so long as
such person is employed by MRMC.

         4.4 RIGHT TO OPERATE. MRMC shall have the right, but not the
obligation, to act as operator of the Partnership's facilities to the same
extent it acted as operator of such facilities prior to the effective date of
this Agreement for so long as MRMC has responsibilities associated with such
facilities.

         4.5 RELATED PARTY TRANSACTIONS. Each of MRMC, the General Partner, the
Partnership and the Operating Partnership agree that the execution or material
amendment of any "significant Martin agreement" (as such term is defined below)
must be approved by the Conflicts Committee. The term "significant Martin
agreement" means any agreement between the General Partner, the Partnership or
the Operating Partnership, on the one hand, and any Martin Entity, on the other
hand, that requires aggregate annual payments to or from any Martin Entity or
Martin Entities in excess of the Indirect Expense Limit.

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                                   ARTICLE V
                           USE OF THE NAMES AND MARKS

         5.1 GRANT OF LICENSE. MRMC hereby grants to the Partnership and the
Partnership hereby accepts, a nontransferable, nonexclusive royalty-free right
and license to use the Names and Marks in connection with the Business during
the term of this Agreement.

         5.2 USE. All use of and reference to the Names and Marks by the
Partnership shall be generally approved by MRMC prior to such use or reference,
and all such use and reference shall conform with such instructions and quality
standards as MRMC from time to time may issue. MRMC shall have 30 days from the
submission of approval to approve or disapprove of the use or reference. Failure
on the part of MRMC to act within such 30-day period shall be deemed to
constitute approval. In no event shall use of or reference to the Names and
Marks be inconsistent in form or content with the sole ownership of the Names
and Marks by MRMC. All use of the Names and Marks by the Partnership, its
agents, servants, employees and vendees, shall inure solely to the benefit of
MRMC. MRMC shall have the right to make reasonable inspection of the
Partnership's services rendered in connection with the Names and Marks to
protect the goodwill of MRMC associated with the Names and Marks.

         5.3 VARIATIONS. The Partnership shall not adopt and commence using any
variations of the Names and Marks, or any other names and marks confusingly
similar thereto, without the prior approval of MRMC. MRMC shall have 30 days
from the submission of approval to approve or disapprove of the variation.
Failure on the part of MRMC to act within such 30-day period shall be deemed to
constitute approval.

         5.4 NONTRANSFERABLE. The license granted to the Partnership to use the
Names and Marks is not assignable or transferable, and it shall not inure to the
benefit of any other Person, including, without limitation, a trustee in
bankruptcy or any other successor to the Partnership, whether by operation of
law or otherwise; provided, however, that the Partnership shall be entitled to
sublicense the Names and Marks to any of its Subsidiaries.

         5.5 INDEMNITY. The Partnership agrees to be solely responsible for and
to defend and indemnify MRMC from and against any and all claims, demands and
causes of action, and all Losses sustained in connection therewith, arising out
of, resulting from or related to the use of the Names and Marks in the Business,
even if such claim, demand or cause of action is based on the sole, partial or
concurrent negligence of MRMC, except that MRMC shall defend and indemnify the
Partnership from and against all claims, demands or causes of action for
trademark infringement arising from the use of the Names and Marks by the
Partnership. If requested by MRMC, the Partnership shall retain counsel
reasonably satisfactory to MRMC to represent MRMC, and the Partnership shall pay
the fees and expenses of such counsel relating to such claim, demand, or cause
of action. MRMC shall be consulted with respect to all matters concerning such
claim, demand, or cause of action, and settlement of such claim, demand, or
cause of action shall not be made without the prior written approval of MRMC.

         5.6 DISCLAIMER OF WARRANTIES. MRMC DISCLAIMS ANY AND ALL WARRANTIES,
CONDITIONS OR REPRESENTATIONS (EXPRESS OR IMPLIED, ORAL OR WRITTEN) WITH RESPECT
TO THE LICENSE IN THIS ARTICLE V, OR ANY PART

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THEREOF, INCLUDING ANY AND ALL IMPLIED WARRANTIES OF NON-INFRINGEMENT,
MERCHANTABILITY OR FITNESS OR SUITABILITY FOR ANY PURPOSE (WHETHER THE PARTY
KNOWS, HAS REASON TO KNOW, HAS BEEN ADVISED, OR IS OTHERWISE IN FACT AWARE OF
ANY SUCH PURPOSE) WHETHER ALLEGED TO ARISE BY LAW, BY REASON OF CUSTOM OR USAGE
IN THE TRADE OR BY COURSE OF DEALING.

                                   ARTICLE VI
                                  MISCELLANEOUS

         6.1 INSURANCE MATTERS. MRMC hereby agrees to cause each of the
Partnership Entities to be named as additional insureds in MRMC's current
insurance program, which is described on Schedule 6.1 attached hereto. Each of
the Partnership Entities shall pay for its allocated cost of that insurance
coverage in an amount equal to MRMC's cost of insuring the assets and operations
of Partnership Entity and generally in accordance with the allocations and
methodology described in Schedule 6.1.

         6.2 MANAGEMENT OF CF MARTIN.

             (a) Except as set forth below and to the extent allowed by
applicable law, MRMC agrees that it will, and (when applicable) it will use
commercially reasonable efforts to cause each of the MRMC Entities and each
Martin Manager to, exercise its J.V. Management Rights (as such term is defined
below) in a manner that it reasonably believes is in the best interests of the
Partnership. For purposes of this Agreement, the term "J.V. Management Rights"
shall mean the exercise by each of the Martin Entities or any Martin Manager of
any voting right or consent right granted by the CF Martin GP Agreement and the
CF Martin LP Agreement, including but not limited to, the exercise of rights
contained in Section 4.3 of the CF Martin LP Agreement (relating to
distributions by CF Martin) and Article X of the CF Martin LP Agreement
(relating to transfers). Notwithstanding anything to the contrary in this
Agreement, no Martin Manager shall be required to act in any manner that he or
she reasonably believes would (i) violate law, or (ii) constitute a breach of a
fiduciary or similar duty that such Martin Manager owes to CF Martin GP or CF
Martin, or any of its members or partners, respectively.

             (b) MRMC agrees to promptly provide the Partnership with a copy of
any notice it receives as a result of Article X of the CF Martin LP Agreement.

             (c) Except as provided for in this Section 6.2(c), MRMC agrees that
no member of the MRMC Group will either sell its Venture Interest, nor purchase
the Venture Interest of a third party, pursuant to Sections 10.1, 10.2, 10.5,
10.6 or 10.7 of the CF Martin LP Agreement without the written consent of the
Partnership. In addition, MRMC agrees that it will exercise its rights contained
in Section 10.2, 10.5, 10.6 or 10.7 of the CF Martin LP Agreement only as
directed by the Partnership. As between the MRMC Group and the Partnership, in
the event MRMC and the Partnership agree to purchase the Venture Interest of a
third party, the purchase price for and ownership of such Venture Interest shall
be allocated between the MRMC Group and the Partnership in accordance with their
respective ownership percentages in CF Martin and MRMC shall pay, or cause the
applicable MRMC Entity to pay, its proportionate share of the purchase price of
the Venture Interest to be purchased by MRMC or such MRMC

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Entity. Notwithstanding the foregoing, in no event will MRMC or any MRMC Entity
be prohibited by this Agreement from selling its Venture Interest when required
to do so by the terms of the CF Martin LP Agreement or the CF Martin GP
Agreement.

             (d) MRMC agrees that it will not, and it will cause each of the
MRMC Entities to not, vote in favor of or otherwise consent to any amendment of
the CF Martin LP Agreement without the prior written consent of the Partnership.

         6.3 CHOICE OF LAW; SUBMISSION TO JURISDICTION. This Agreement shall be
subject to and governed by the laws of the State of Texas, excluding any
conflicts-of-law rule or principle that might refer the construction or
interpretation of this Agreement to the laws of another state. Each Party hereby
submits to the jurisdiction of the state and federal courts in Dallas County,
Texas.

         6.4 NOTICE. All notices or requests or consents provided for by, or
permitted to be given pursuant to, this Agreement must be in writing and must be
given by depositing same in the United States mail, addressed to the Person to
be notified, postpaid, and registered or certified with return receipt requested
or by delivering such notice in person or by telecopier or telegram to such
Person. Notice given by personal delivery or mail shall be effective upon actual
receipt. Notice given by telegram or telecopier shall be effective upon actual
receipt if received during the recipient's normal business hours, or at the
beginning of the recipient's next business day after receipt if not received
during the recipient's normal business hours. All notices to be sent to a Party
pursuant to this Agreement shall be sent to or made at the address set forth
below such Party's signature to this Agreement, or at such other address as such
Party may stipulate to the other parties in the manner provided in this Section
6.4.

         6.5 ENTIRE AGREEMENT. This Agreement constitutes the entire agreement
of the Parties relating to the matters contained herein, superseding all prior
contracts or agreements, whether oral or written, relating to the matters
contained herein.

         6.6 TERMINATION. This Agreement, other than the provisions of Article
III, shall terminate if (i) the General Partner or any successor general partner
of the Partnership is not an Affiliate of MRMC or (ii) the Partnership Entities
no longer own and/or operate all or substantially all of the Assets or the
Business. Termination of this Agreement shall not terminate any Indemnifying
Party's continuing obligation of indemnification pursuant to Article III of this
Agreement which obligations shall survive as provided in Article III. In the
event of termination of this Agreement, the license granted by Article V hereof
shall automatically cease. As promptly as practicable (but in no event more than
180 days) following the termination of this Agreement, the Partnership shall
cease all use of the Names and Marks and any and all other names and marks
confusingly similar thereto. Termination of the license granted by Article V
hereof shall not terminate the Partnership's continuing obligation of
indemnification under Section 5.5 hereof. Upon termination of this Agreement,
MRMC shall have the right, but not the obligation, to continue as operator of
the Partnership's facilities to the same extent it acted as operator of such
facilities on behalf of the Partnership prior to the termination of this
Agreement for so long as MRMC has responsibilities associated with such
facilities, or the operation thereof.

                                       15
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         6.7 EFFECT OF WAIVER OR CONSENT. No waiver or consent, express or
implied, by any Party to or of any breach or default by any Person in the
performance by such Person of its obligations hereunder shall be deemed or
construed to be a consent or waiver to or of any other breach or default in the
performance by such Person of the same or any other obligations of such Person
hereunder. Failure on the part of a Party to complain of any act of any Person
or to declare any Person in default, irrespective of how long such failure
continues, shall not constitute a waiver by such Party of its rights hereunder
until the applicable statute of limitations period has run.

         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
hereto; provided however, that the Partnership may not, without the prior
approval of the Conflicts Committee, agree to any amendment or modification of
this Agreement. Each such instrument shall be reduced to writing and shall be
designated on its face an "Amendment" or an "Addendum" to this Agreement.

         6.9 ASSIGNMENT. No Party shall have the right to assign its rights or
obligations under this Agreement without the consent of the other Parties
hereto.

         6.10 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.

         6.11 SEVERABILITY. If any provision of this Agreement or the
application thereof to any Person or circumstance shall be held invalid or
unenforceable to any extent, the remainder of this Agreement and the application
of such provision to other Persons or circumstances shall not be affected
thereby and shall be enforced to the greatest extent permitted by law.

         6.12 FURTHER ASSURANCES. In connection with this Agreement and all
transactions contemplated by this Agreement, each signatory party hereto agrees
to execute and deliver such additional documents and instruments and to perform
such additional acts as may be necessary or appropriate to effectuate, carry out
and perform all of the terms, provisions and conditions of this Agreement and
all such transactions.

         6.13 LAWS AND REGULATIONS. Notwithstanding any provision of this
Agreement to the contrary, no Party this Agreement shall be required to take any
act, or fail to take any act, under this Agreement if the effect thereof would
be to cause such Party to be in violation of any applicable law, statute, rule
or regulation.

         6.14 NEGOTIATION OF RIGHTS OF LIMITED PARTNERS, ASSIGNEES, AND THIRD
PARTIES. The provisions of this Agreement are enforceable solely by the Parties
to this Agreement, and no limited partner, member, assignee or other Person of
the Partnership or General Partner shall have the right, separate and apart from
the Partnership or the General Partner, to enforce any provision of this
Agreement or to compel any Party to this Agreement to comply with the terms of
this Agreement.

                                       16
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         IN WITNESS WHEREOF, the Parties hereto have executed this Agreement on,
and effective as of, the date first written above.

                            MARTIN MIDSTREAM PARTNERS, L.P.

                            By: MARTIN MIDSTREAM GP L.L.C.,
                                On behalf of itself and on behalf of Partnership
                                    as its General Partner

                                    By:  /s/ Ruben S. Martin, III
                                         Ruben S. Martin, III
                                          President

                            MARTIN OPERATING PARTNERSHIP L.P.

                            By: Martin Operating GP LLC,
                                   its general partner;

                                 By: Martin Resource LLC,
                                        its sole member;

                                     By: Martin Resource Management
                                            Corporation,
                                            its sole member;

                                         By:   /s/ Ruben S. Martin, III
                                              Ruben S. Martin, III
                                               President

                            MARTIN RESOURCE MANAGEMENT
                              CORPORATION

                                    By: /s/ Ruben S. Martin, III
                                         Ruben S. Martin, III
                                          President

                                       17
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                                   SCHEDULE 1

                              TRADENAMES AND LOGOS

                                    Attached

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                                 SCHEDULE 2.2(a)

                               RETAINED BUSINESSES

         The operations, assets and activities related to the businesses and
operations related to the business activities described on page 87 of the Martin
Midstream Partners, L.P. Prospectus, dated October 31, 2002.

                                       19
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                                  SCHEDULE 3.2

                                   LITIGATION

         All pending legal actions existing as of the Closing Date.

                                       20
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                                  SCHEDULE 6.1

                                INSURANCE PROGRAM

                                    Attached

                                       21

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