Unassociated Document


     

    _____________,
      2006

     

    


     

    Energy
      Infrastructure Acquisition Corp.

    641
      Fifth Avenue

    New
      York,
      New York 10022

    Attn:
      George Sagredos

     

    Maxim
      Group LLC

    405
      Lexington Avenue 

    New
      York,
      New York 10174

    Attn: Clifford
      A. Teller

    
      	
               

              Re:

            	
               

              Initial
                Public Offering

            


    

     

    Gentlemen:

     

    The
      undersigned stockholder and officer of Energy Infrastructure Acquisition Corp.
      (“Company”), in consideration of Maxim Group LLC (“Maxim”) entering into a
      letter of intent (“Letter of Intent”) to underwrite an initial public offering
      of the securities of the Company (“IPO”) and embarking on the IPO process,
      hereby agrees as follows (certain capitalized terms used herein are defined
      in
      paragraph 11 hereof):

     

    1.  If
      the
      Company solicits approval of its stockholders of a Business Combination, the
      undersigned will vote (i) all Insider Shares owned by him in accordance with
      the
      majority of the votes cast by the holders of the IPO Shares and the Private
      Placement Shares and (ii) all of the shares that may be acquired by him in
      the
      IPO or in the aftermarket for the Business Combination.

     

    2.  In
      the
      event that the Company fails to consummate a Business Combination within 18
      months from the effective date (“Effective Date”) of the registration statement
      relating to the IPO (or 24 months under the circumstances described in the
      prospectus relating to the IPO), the undersigned will take all reasonable
      actions within his power to cause the Company to liquidate as soon as reasonably
      practicable. In such event, the undersigned hereby waives any and all right,
      title, interest or claim of any kind in or to any liquidating distributions
      by
      the Company, including, without limitation, any distribution of the Trust
      Account (as defined in the Letter of Intent) as a result of such liquidation
      with respect to his Insider Shares and his Private Placement Shares (“Claim”)
      and hereby waives any Claim the undersigned may have in the future as a result
      of, or arising out of, any contracts or agreements with the Company and will
      not
      seek recourse against the Trust Account for any reason whatsoever. The
      undersigned agrees to indemnify and hold harmless the Company against any and
      all loss, liability, claims, damage and expense whatsoever (including, but
      not
      limited to, any and all legal or other expenses reasonably incurred in
      investigating, preparing or defending against any litigation, whether pending
      or
      threatened, or any claim whatsoever) which the Company may become subject as
      a
      result of any claim by any vendors or other entities that are owed money by
      the
      Company for services rendered, or contracted for, or products sold to us or
      the
      claims of any target businesses, but only to the extent necessary to ensure
      that
      such loss, liability, claim, damage or expense does not reduce the amount in
      the
      Trust Account;
      provided, however,
      that
      such indemnity shall be limited to the extent of the undersigned’s pro rata
      beneficial ownership of the Company (measured immediately prior to the IPO
      but
      following the Private Placement Shares and including such Private Placement
      Shares).

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Energy
      Infrastructure Acquisition Corp.

    Maxim
      Group LLC

    _______________,
      2006

    Page
      2

     

    3.  In
      order
      to minimize potential conflicts of interest which may arise from multiple
      affiliations, the undersigned agrees to present to the Company for its
      consideration, prior to presentation to any other person or entity,
      opportunities to acquire entities in the business of supporting the process
      of
      bringing energy, in the form of crude oil, natural and liquefied petroleum
      gas,
      and refined and specialized products (such as petrochemicals), from production
      to final consumption, until the earlier of the consummation by the Company
      of a
      Business Combination, the liquidation of the Company or until such time as
      the
      undersigned ceases to be an officer or director of the Company, subject to
      any
      fiduciary obligations the undersigned might have.

     

    4.  The
      undersigned acknowledges and agrees that the Company will not consummate any
      Business Combination which involves a company which is affiliated with any
      of
      the Insiders unless the Company obtains an opinion from an independent
      investment banking firm reasonably acceptable to Maxim that the business
      combination is fair to the Company’s stockholders from a financial
      perspective.

     

    5.  Neither
      the undersigned, any member of the family of the undersigned, nor any Affiliate
      of the undersigned will be entitled to receive and will not accept any finder’s
      fee or any other compensation for services rendered to the Company prior to
      the
      consummation of the Business Combination; provided that (i) the undersigned
      shall be entitled to receive reimbursement from the Company for his
      out-of-pocket expenses incurred in connection with seeking and consummating
      a
      Business Combination and (ii) commencing on the Effective Date, Schwartz &
Weiss, P.C. ("Related Party"), shall be entitled to charge the Company an
      allocable share of Related Party's overhead, up to $7,500 per month, to
      compensate it for the Company's use of Related Party's office space, utilities,
      administrative, technology and secretarial services.

     

    6.  Neither
      the undersigned, any member of the family of the undersigned, or any Affiliate
      of the undersigned will be entitled to receive or accept a finder’s fee or any
      other compensation in the event the undersigned, any member of the family of
      the
      undersigned or any Affiliate of the undersigned originates a Business
      Combination.

     

    7.  The
      undersigned will escrow his Insider Shares for the three-year period commencing
      on the Effective Date, subject to the terms of a Stock Escrow Agreement which
      the Company will enter into with the undersigned and an escrow agent acceptable
      to the Company.

     

    8.  The
      undersigned agrees to be the Chief Executive Officer and a director of the
      Company until the earlier of the consummation by the Company of a Business
      Combination or the liquidation of the Company. The undersigned’s biographical
      information furnished to the Company and Maxim and attached hereto as Exhibit
      A
      is true and accurate in all respects, does not omit any material information
      with respect to the undersigned’s background and contains all of the information
      required to be disclosed pursuant to Section 401 of Regulation S-K, promulgated
      under the Securities Act of 1933. The undersigned’s Questionnaire furnished to
      the Company and Maxim and annexed as Exhibit B hereto is true and accurate
      in
      all respects. The undersigned represents and warrants that:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      Energy
        Infrastructure Acquisition Corp.

      Maxim
        Group LLC

      _______________,
        2006

      Page
        3

       

    

    (a)  he
      is not
      subject to or a respondent in any legal action for, any injunction,
      cease-and-desist order or order or stipulation to desist or refrain from any
      act
      or practice relating to the offering of securities in any
      jurisdiction;

     

    (b)  he
      has
      never been convicted of or pleaded guilty to any crime (i) involving any fraud
      or (ii) relating to any financial transaction or handling of funds of another
      person, or (iii) pertaining to any dealings in any securities and he is not
      currently a defendant in any such criminal proceeding; and

     

    (c)  he
      has
      never been suspended or expelled from membership in any securities or
      commodities exchange or association or had a securities or commodities license
      or registration denied, suspended or revoked.

     

    9.  The
      undersigned has full right and power, without violating any agreement by which
      he is bound, to enter into this letter agreement and to serve as the Chief
      Executive Officer and a director of the Company.

     

    10.  The
      undersigned authorizes any employer, financial institution, or consumer credit
      reporting agency to release to Maxim and its legal representatives or agents
      (including any investigative search firm retained by Maxim) any information
      they
      may have about the undersigned’s background and finances (“Information”), solely
      for the purposes of the Company’s IPO. Neither Maxim nor its agents shall be
      violating the undersigned’s right of privacy in any manner in requesting and
      obtaining the Information and the undersigned hereby releases them from
      liability for any damage whatsoever in that connection.

     

    11.  As
      used
      herein, (i) a “Business Combination” shall mean an acquisition by merger,
      capital stock exchange, asset or stock acquisition, or other similar business
      combination with one or more businesses that support the process of bringing
      energy, in the form of crude oil, natural and liquefied petroleum gas, and
      refined and specialized products (such as petrochemicals), from production
      to
      final consumption selected by the Company; (ii) “Insiders” shall mean all
      officers, directors and stockholders of the Company immediately prior to the
      IPO; (iii) “Insider Shares” shall mean all of the shares of Common Stock of the
      Company owned by an Insider prior to the effective date of the IPO but shall
      exclude the Private Placement Shares; (iv) “IPO Shares” shall mean the shares of
      Common Stock issued in the Company’s IPO; and (v) "Private Placement Shares"
      shall mean the shares of Common Stock underlying the 825,398 units issued in
      the
      Company's Regulation S private placement effected prior to the IPO.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      Energy
        Infrastructure Acquisition Corp.

      Maxim
        Group LLC

      _______________,
        2006

      Page
        4

    

     

    12.  This
      letter agreement shall be governed by and construed and enforced in accordance
      with the laws of the State of New York, without giving effect to conflicts
      of
      law principles that would result in the application of the substantive laws
      of
      another jurisdiction. The undersigned hereby (i) agrees that any action,
      proceeding or claim against him arising out of or relating in any way to this
      letter agreement (a "Proceeding") shall be brought and enforced in the courts
      of
      the State of New York of the United States of America for the Southern District
      of New York, and irrevocably submits to such jurisdiction, which jurisdiction
      shall be exclusive, (ii) waives any objection to such exclusive jurisdiction
      and
      that such courts represent an inconvenient forum and (iii) irrevocably agrees
      to
      appoint Loeb & Loeb LLP as agent for the service of process in the State of
      New York to receive, for the undersigned and on his behalf, service of process
      in any Proceeding. If or any reason such agent is unable to act as such, the
      undersigned will promptly notify the Company and Maxim and appoint a substitute
      agent acceptable to each of the Company and Maxim within 30 days and nothing
      in
      this letter will affect the right of either party to serve process in any other
      manner permitted by law.

     

     

    
      	 	 	 
	 	 
	 
 	 
 	 
 
	 	By:  	 
	 	
              
Arie
              Silverberg


    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    


     

    EXHIBIT
      A

    

      Arie
        Silverberg has
        been
        our chief executive officer and a director of our company since inception.
        Mr.
        Silverberg is currently a director of Granite Hacarmel Ltd., one of Israel’s
        largest holding companies with interests in petroleum products and LPG gas
        (Liquefied Petroleum Gas), among other assets. From 1999 to present, he has
        served as a director of Sonol, one of Israel’s largest and oldest oil and gas
        marketing firms, and as a director of Tambur Ltd., Israel’s largest paint
        manufacturer. He has also served as a director of Tambur Ecology, one of
        Israel’s major water desalination and water treatment companies. Prior to 1999,
        he served as head of the crude oil and oil products division of Glencore
        International in Switzerland a privately held company that is one of the
        world’s
        largest suppliers of a wide range of commodities and raw materials to industrial
        consumers.  At
        Glencore, Mr. Silverberg was responsible for the company’s worldwide trading,
        shipping and financing, and processing agreements for crude oil. During his
        tenure, he built the oil division into a worldwide trading operation
        encompassing all aspects of the petroleum industry. Prior to this, Mr.
        Silverberg held various positions over the course of an 18 year career at
        ORL
        Israel, Israel’s sole crude oil refiner, where he ultimately became senior vice
        president of operations. His responsibilities included planning refinery
        operations, purchasing and shipping of crude oil, marketing various oil products
        and operations of petrochemicals. Mr. Silverberg received a B.A. and M.A.,
        with
        honors, in chemical engineering from the Israel Institute of Technology in
        Haifa, Israel in 1972 and 1975, respectively.

    

    
       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      


       

    

    EXHIBIT
      B

     

    Questionnaire