EXHIBIT
10.3
AMENDMENT NO. 1
TO
OMNIBUS AGREEMENT
This AMENDMENT NO. 1 TO THE OMNIBUS AGREEMENT (this Amendment) is hereby adopted effective
as of November 25, 2009 by 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). Capitalized terms used but not defined herein are
used as defined in the Omnibus Agreement, dated as of November 1, 2002, by and among MRMC, the
General Partner, the Partnership and the Operating Partnership (the Omnibus Agreement).
WHEREAS, MRMC, the General Partner, the Partnership and the Operating Partnership entered into
the Omnibus Agreement;
WHEREAS, MRMC, the Partnership, the Operating Partnership and Cross Oil Refining & Marketing,
Inc., a Delaware corporation and a wholly owned subsidiary of MRMC (Cross), have entered into
that certain Amended and Restated Contribution Agreement, dated as of November 25, 2009 (the
Contribution Agreement), whereby certain assets relating to Cross naphthenic lube refinery will
be sold to the Operating Partnership in consideration for common and subordinated units in the
Partnership (the Cross Transaction);
WHEREAS, pursuant to the Contribution Agreement, MRMC must deliver on the closing date of the
Cross Transaction, this Amendment which revises the definition of the term Business to include
the refining of crude oil (the Amendment Purpose);
WHEREAS, MRMC, the General Partner, the Partnership and the Operating Partnership wish to
amend the Omnibus Agreement pursuant Section 6.8 of the Omnibus Agreement to reflect the Amendment
Purpose;
WHEREAS, the Partnership, in accordance with Section 6.8 of the Omnibus Agreement, has
received the prior approval of the Conflicts Committee to agree to amend the Omnibus Agreement, as
reflected in the resolutions of the Conflicts Committee dated November 4, 2009.
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, MRMC, the General Partner, the Partnership and the Operating
Partnership hereby agree as follows:
Section 1. Amendment.
(a) Article I is hereby amended to amend and restate the following definitions:
(i) Assets means the Contributed Assets as such term is defined in (i) the Contribution
Agreement, and (ii) the Cross Contribution Agreement.
(ii) Business means (i) providing marine and other transportation, terminalling,
refining, processing, distribution and midstream logistical services for hydrocarbon products
and by-products, including, without limitation, the refining of crude oil into various grades
and quantities of naphthenic lubricants, distillates, asphalt flux and other intermediate cuts,
and (ii) manufacturing and marketing fertilizers and related sulfur-based products.
(iii) Cross Contribution Agreement means that certain Amended and Restated Contribution
Agreement, dated as of November 25, 2009, among the Partnership, the Operating Partnership, MRMC
and Cross Oil Refining & Marketing, Inc.
Section 2. Ratification of the Omnibus Agreement. Except as expressly modified and amended
herein, all of the terms and conditions of the Omnibus Agreement shall remain in full force and
effect.
Section 3. Governing Law. This Amendment shall be subject to and governed by the laws of
the State of Texas, without regard to conflicts of laws principles.
Section 4. Counterparts. This Amendment may be executed in any number of counterparts and
by the parties hereto in separate counterparts, each of which when so executed and delivered shall
be deemed to be an original and all of which taken together shall constitute one and the same
instrument. Delivery of an executed counterpart of this Amendment by PDF or telecopy shall be
effective as delivery of a manually executed counterpart of this Amendment.
REMAINDER OF PAGE INTENTIONALLY BLANK. SIGNATURE PAGES FOLLOW.