We prove that every closed exhaustive vector-valued modular measure on a lattice ordered effect algebra $ L $ can be decomposed into the sum of a Lyapunov exhaustive modular measure (i.e. its restriction to every interval of $ L $ has convex range) and an "anti-Lyapunov" exhaustive modular measure. \par This result extends a Kluvanek-Knowles decomposition theorem for measures on Boolean algebras.