Exhibit 10.1

CONVERTED AWARD AGREEMENT

This Converted Award Agreement (“Agreement”) is effective as of July 20, 2018 and is between NuStar GP Holdings, LLC (the “Company”), NuStar GP, LLC (“NuStar GP”), NuStar Services Company LLC and                      (“Participant”), a participant in the NuStar GP Holdings, LLC Long-Term Incentive Plan, as the same may be amended (the “Plan”), pursuant to and subject to the provisions of the Plan. This Agreement supersedes any and all award agreements or amendments previously entered into between the Company and the Participant with respect to the NSH Phantom Units (as defined below) covered hereby. All capitalized terms contained in this Agreement shall have the same definitions as are set forth in the Plan unless otherwise defined herein.

RECITALS

WHEREAS, prior to the date hereof, Participant was granted certain awards of Phantom Units pursuant to the Plan represented by the awards described on Exhibit A hereto (the “NSH Phantom Units”);

WHEREAS, on February 7, 2018, NuStar Energy L.P. (the “Partnership”), Riverwalk Logistics, L.P., a Delaware limited partnership and the general partner of the Partnership (“Riverwalk”), NuStar GP, Marshall Merger Sub LLC, a Delaware limited liability company and wholly owned subsidiary of the Partnership (“Merger Sub”), the Company and Riverwalk Holdings, LLC, a Delaware limited liability and a wholly owned subsidiary of the Company, entered into an Agreement and Plan of Merger (the “Merger Agreement”) pursuant to which Merger Sub merged with and into the Company (the “Merger”) on July 20, 2018 (the “Effective Time”), with the Company surviving the Merger as a wholly owned subsidiary of the Partnership;

WHEREAS, pursuant to the Merger Agreement, at the Effective Time, each award of NSH Phantom Units outstanding immediately prior to the Effective Time automatically converted, on the same terms and conditions as were applicable to such awards immediately prior to the Effective Time (except as set forth in this Agreement), into an award (each, a “Converted Award”) of phantom common units of the Partnership (“Restricted Units”);

WHEREAS, the number of Restricted Units subject to each such Converted Award has been determined by multiplying the number of NSH Phantom Units subject to each award immediately prior to the Effective Time by 0.55, with any resulting fractional Restricted Units rounded down to the nearest whole number and the Participant will be eligible to receive an amount in cash, without interest, at the time the Converted Award is settled equal to the Fair Market Value (as defined in the Plan, except that references in such definition to “Unit” shall mean a common unit of the Partnership) by the fraction of a Restricted Unit that would have been subject to the Converted Award but for such rounding; and

WHEREAS, NuStar GP, on behalf of the Partnership, assumed all of the obligations of the Company under the Plan and any agreements evidencing the grants of

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NSH Phantom Units thereunder (as so converted to Restricted Units) and is required to deliver to each holder of an outstanding award of NSH Phantom Units previously granted under the Plan a new award agreement setting forth the terms of such individual’s award of Restricted Units.

NOW, THEREFORE, this Agreement evidences the terms governing each of the Converted Awards set forth on Exhibit A. Certain provisions applicable to this Agreement are set forth on Appendix A.

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(A) a portion of the Restricted Units that remain unvested and outstanding on the date of the Acceleration Event shall automatically become vested, where such portion shall be equal to the product of:

(x) the percentage equal to the number of months of the Post-Grant Year elapsed prior to the date of the Acceleration Event; divided by the product of the number of Post-Grant Years remaining, inclusive of the Post-Grant Year in which the Acceleration Event occurs, multiplied by 12 months;

multiplied by:

(y) the number of unvested Restricted Units that would have vested had Participant remained continuously employed with the Company or an Affiliate thereof (including the Partnership) through the latest date on the vesting schedule in Section 1, and

(B) the remaining Restricted Units (and all DERs) shall automatically and immediately be forfeited for no consideration.

For illustration purposes only: In Year 1, 2,000 NSH Phantom Units were granted to a participant in November to vest in equal annual installments over a five year period beginning on the first anniversary of the date of grant. Those NSH Phantom Units were converted into 1,100 Restricted Units pursuant to the Merger Agreement. In Year 2, the participant dies with a last day of service of June 9. In this scenario, seven months of Year 2 have elapsed, so (x) is 15%, which is multiplied by (y), which is 880. The product of (x) and (y) is 132, and 132 of the 880 Restricted Units that were unvested on the date of death will vest with respect to the participant. The remaining 748 Restricted Units shall automatically be forfeited.

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For purposes of this Agreement, “Disabled” or “Disability” means (i) the inability of Participant to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months or (ii) the receipt of income replacements by Participant, by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, for a period of not less than three (3) months under the accident and health plan of the Company or an applicable Affiliate thereof (including the Partnership).

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APPENDIX A

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