Document:

Subscription
      Agreement

    

    

    

    

    

    As
      of May
      31, 2006

    

    To
      the
      Board of Directors of 

    East
      India Company Acquisition Corp.:

    

    Gentlemen:

    

    The
      undersigned hereby subscribes for and agrees to purchase 120,100 units (“Insider
      Units”), each consisting of one share of common stock (“Common Stock”) and two
      warrants (“Warrants”), each to purchase one share of Common Stock, at $6.00 per
      Insider Unit, and 685,000 Warrants (“Insider Warrants” and together with the
      Insider Units, the “Insider Securities”)) at $0.70 per Insider Warrant, of East
      India Company Acquisition Corp. (the “Corporation”) for an aggregate purchase
      price of $1,200,100 (“Purchase Price”). The purchase and issuance of the Insider
      Securities shall occur simultaneously with the consummation of the Corporation’s
      initial public offering of securities (“IPO”) which is being underwritten by
      EarlyBirdCapital, Inc. (“EBC”). The Insider Securities will be sold to the
      undersigned on a private placement basis and not part of the IPO. 

    

    At
      least
      24 hours prior to the effective date of the registration statement filed in
      connection with the IPO (“Registration Statement”), the undersigned shall
      deliver the Purchase Price to Graubard Miller to hold in a non-interest bearing
      account until the Corporation consummates the IPO. Simultaneously with the
      consummation of the IPO, Graubard Miller shall deposit the Purchase Price,
      without interest or deduction, into the trust fund (“Trust Fund”) established by
      the Corporation for the benefit of the Corporation’s public stockholders as
      described in the Corporation’s Registration Statement, pursuant to the terms of
      an Investment Management Trust Agreement to be entered into between the
      Corporation and Continental Stock Transfer & Trust Company. In the event
      that the IPO is not consummated within 14 days of the Purchase Price being
      delivered to Graubard Miller, Graubard Miller shall return the Purchase Price
      to
      the undersigned, without interest or deduction.

    

    The
      undersigned represents and warrants that it has been advised that the Insider
      Securities have not been registered under the Securities Act; that it is
      acquiring the Insider Securities for its account for investment purposes only;
      that it has no present intention of selling or otherwise disposing of the
      Insider Securities in violation of the securities laws of the United States;
      that it is an “accredited investor” as defined by Rule 501 of Regulation D
      promulgated under the Securities Act of 1933, as amended (the “Securities Act”);
      and that it is familiar with the proposed business, management, financial
      condition and affairs of the Corporation.

    

    Moreover,
      the undersigned agrees that it shall not sell or transfer the Insider Securities
      or any underlying securities until after the Corporation consummates a merger,
      capital stock exchange, asset acquisition or other similar business combination
      with an operating business (“Business Combination”) and acknowledges that the
      certificates for such Insider Securities shall contain a legend indicating
      such
      restriction on transferability. If
      the
      Company solicits approval of its stockholders of a Business Combination, the
      undersigned will vote all shares of Common Stock included within the Insider
      Units and any shares of Common Stock issued upon exercise of the Warrants
      included in the Insider Units or the Insider Warrants owned by it in accordance
      with the majority of the votes cast by the holders of the shares of Common
      Stock
      issued in the Company’s IPO. Additionally,
      the undersigned hereby waives, with respect to the Insider Securities (and
      the
      underlying securities), any and all right, title, interest or claim of any
      kind
      (“Claim”) in or to any distribution of the Trust Fund and any remaining net
      assets of the Corporation as a result of the liquidation of the Company 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 Fund for any reason whatsoever. 

    

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    The
      Company hereby acknowledges and agrees that, in the event the Company calls
      its
      public Warrants for redemption pursuant to that certain Warrant Agreement to
      be
      entered into by the Company and Continental Stock Transfer & Trust Company
      in connection with the Company’s IPO, the Company shall allow the undersigned to
      exercise any Insider Warrants and any Warrants included within the Insider
      Units
      by surrendering such Warrants for that number of shares of Common Stock equal
      to
      the quotient obtained by dividing (x) the product of the number of shares of
      Common Stock underlying the Warrant, multiplied by the difference between the
      Warrant exercise price and the “Fair Market Value” (defined below) by (y) the
      Fair Market Value. The “Fair Market Value” shall mean the average reported last
      sale price of the Common Stock for the 10 trading days ending on the third
      trading day prior to the date on which the notice of redemption is sent to
      holders of Warrants. 

    

    The
      terms
      of this agreement and the restriction on transfers with respect to the Insider
      Securities may not be amended without the prior written consent of
      EBC.

     

    Very
      truly yours,

     

    25th
      STREET
      LLC

    

    

    By: /s/
      Reena Nandi

    Name:
      Reena Nandi

    Title:
      President

    Agreed
      to:

    

    East
      India Company Acquisition Corp.

    

    By:
      /s/
      Dipak Nandi

    Name:
      Dipak Nandi

    Title:
      Chairman

     

    
 

    Graubard
      Miller

     

    By:
      /s/
      David Alan Miller

    Name:
      David Alan Miller

    Title:
      Managing Partner

     

    
 

    EarlyBirdCapital,
      Inc.

     

    By:
      /s/
      Steven Levine

    Name:
      Steven Levine

    Title:
      Managing DirectorEXHIBIT
      10.1 

     

    June
      ___,
      2006

     

    Energy
      Infrastructure Acquisition Corp. 

    641
      Fifth
      Avenue

    New
      York,
      New York 10022, Suite 320

    Santa
      Monica, CA 90405

     

     

    Maxim
      Group LLC

    405
      Lexington Avenue

    New
      York,
      New York 10174 

     

     

    Re:    Initial
      Public Offering

     

    Gentlemen:

     

    The
      undersigned officer and director of Energy Infrastructure Acquisition Corp.
      (the
“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 13 hereof):

     

    I. (1)
      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 (such later date being referred to herein as
      the
“Termination Date”)), the undersigned shall (A) take all such action reasonably
      within its power as is necessary to dissolve the Company and liquidate the
      Trust
      Account to holders of IPO Shares (i) as soon as reasonably practicable, (ii)
      after approval of the Company’s stockholders, (iii) subject to the requirements
      of the Delaware General Corporation Law (the “GCL”), including voting for the
      adoption of a resolution by the board of directors, prior to such Termination
      Date, pursuant to Section 275(a) of the GCL, finding the dissolution of the
      Company advisable and (iv) causing the preparation of such notices as are
      required by said Section 275(a) of the GCL as promptly thereafter as possible;
      (B) cause the board of directors to convene and adopt a plan of dissolution
      and
      distribution, vote his shares in favor of any plan of dissolution and
      distribution recommended by the board of directors, and seek stockholder
      approval for the plan of dissolution and distribution; and (C) on the date
      of
      any such adoption, cause the Company to prepare and file a proxy statement
      with
      the Securities and Exchange Commission setting out the plan of dissolution
      and
      distribution.  

    

    (2)
      If
      the Company seeks approval from its stockholders to consummate a Business
      Combination within 90 days of the expiration of 24 months from the Effective
      Date, the undersigned agrees to take all such action reasonably within its
      power
      as is necessary to ensure that the proxy statement related to such Business
      Combination will seek stockholder approval for the plan of dissolution and
      distribution in the event the stockholders do not approve the Business
      Combination. 

    

    (3)
      If no
      proxy statement seeking the approval of the stockholders for a Business
      Combination has been filed within 30 days prior to the date which is 24 months
      from the date of the IPO, the undersigned agrees to take, prior to such date,
      all such action reasonably within its power as is necessary to convene and
      adopt
      a plan of dissolution and distribution and on such date file a proxy statement
      with the SEC seeking stockholder approval for such plan.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    (4)
      Except with respect to any of the IPO Shares acquired by the undersigned in
      connection with or following the IPO, the undersigned hereby (a) waives any
      and
      all right, title, interest or claim of any kind (“Claim”) in or to all funds in
      the Trust Account and any remaining net assets of the Company upon liquidation
      of the Trust Account and dissolution of the Company, (b) 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 (c) agrees that the undersigned will
      not seek recourse against the Trust Account for any reason whatsoever.

    

    (5)
      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) to which the Company may become subject
      as
      a result of any claim by any vendor, prospective target business or other entity
      that is owed money by the Company for services rendered or products sold to
      us
      or the claims of any target businesses, subject to the following limitations:
      (i) such indemnification will only be made insofar as the Company did not obtain
      a waiver from such party of such party’s rights or claims to the Trust Account,
      (ii) such indemnification will be made only to the extent necessary to ensure
      that such loss, liability, claim, damage or expense does not reduce the amount
      in the Trust Account (as defined in the Letter of Intent) below the amount
      necessary in order for each holder of IPO Shares to receive a liquidation amount
      of at least $10.00 per IPO Share owned by such holder, and (iii) such indemnity
      shall be limited to the extent of the undersigned’s pro rata beneficial
      ownership of the Company prior to the IPO. 

     

    II. In
      order
      to minimize potential conflicts of inter-est 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, any suitable
      opportunity to acquire an operating business, until the earlier of (i) the
      consummation by the Company of a Business Combination, (ii) the dissolution
      of
      the Company or (iii) such time as the undersigned ceases to be an officer or
      director of the Company, subject to any pre-existing fiduciary and contractual
      obligations the undersigned might have.

     

    III. 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
      which
      is a member of the National Association of Securities Dealers, Inc. and is
      reasonably acceptable to Maxim that the Business Combination is fair to the
      Company’s stockholders from a financial perspective.

     

    IV. (1)
      Neither the undersigned, any member of the family of the undersigned, nor any
      affiliate of the undersigned (“Affiliate”) will be entitled to receive, and no
      such person will accept, any compensation for services rendered to the Company
      prior to the consummation of a Business Combination. 

    

    (2)
      The
      undersigned shall be entitled to reimbursement from the Company for his
      out-of-pocket expenses incurred in connection with seeking and consummating
      a
      Business Combination.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    V. Neither
      the undersigned, any member of the family of the undersigned, nor any Affiliate
      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 originates a Business Combination.

    

    VI. (1)
      The
      undersigned agrees to be the Chief Operating Officer and a director of the
      Company until the earlier of the consummation of a Business Combination or
      the
      dissolution of the Company. The undersigned agrees to not to resign (or advise
      the Board that the undersigned declines to seek re-election to the Board of
      Directors) from his position as officer and/or director of the Company as set
      forth in the Registration Statement without the prior consent of Maxim until
      the
      earlier of the consummation by the Company of a Business Combination,
      liquidation of the Trust Account, or the dissolution of the Company. The
      undersigned acknowledges that the foregoing does not interfere with or limit
      in
      any way the right of the Company to terminate the undersigned’s employment at
      any time (subject to other contractual rights the undersigned may have) nor
      confer upon the undersigned any right to continue in the employ of
      Company.

    

    (2)
      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 Item 401
      of
      Regulation S-K, promulgated under the Securities Act of 1933.  The
      undersigned’s Questionnaire previously furnished to the Company and Maxim is
      true and accurate in all respects as of the date first written above. 

    

    (3)
      The
      undersigned represents and warrants that:

     

    (a) he
      is not
      subject to or a respondent in any legal action for, any injunction relating
      to,
      or any 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.

     

    VII. 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
      Financial Officer and a director of the Company.

     

    VIII. 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”). 
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.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

    IX. In
      connection with the vote required to consummate a Business Combination, the
      undersigned agrees that he will vote all shares of common stock owned by him
      prior to the IPO and the Regulation S Private Placement (the “Insider Shares”),
      if any, in accordance with the majority of the votes cast by the holders of
      the
      IPO Shares and the Regulation S Private Placement Shares, and all shares of
      common stock acquired in connection with the Regulation S Private Placement
      or
      in or following the IPO “for” a Business Combination.

    

    X. The
      undersigned will escrow his Insider Shares, if any, for the period commencing
      on
      the Effective Date and ending on the third anniversary of 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.

    

    XI. 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 the
      federal courts of the United States of America for the Southern District of
      New
      York, and irrevocably submits to the jurisdiction of such courts, which
      jurisdiction shall be exclusive, (ii) waives any objection to the exclusive
      jurisdiction of such courts and any objection 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 for
      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.

    

    XII. As
      used
      herein, (i) a “Business Combination” shall mean an acquisition by the Company,
      by merger, capital stock exchange, asset or stock acquisition, reorganization
      or
      otherwise, of an operating business or businesses in the energy or related
      industries; (ii) “Insiders” shall mean all officers, directors and stockholders
      of the Company immediately prior to the IPO; (iii) “IPO Shares” shall mean the
      shares of Common Stock issued in the Company’s IPO; (iv) “Regulation S Private
      Placement Shares” shall mean the 825,398 shares of Common Stock issued by the
      Company in a transaction exempt from registration with the Securities and
      Exchange Commission under Regulation S approximately four days prior to the
      Effective date, as described in greater detail in the prospectus relating to
      the
      IPO; and “Trust Account” shall mean the trust account in which most of the
      proceeds to the Company of the IPO will be deposited and held for the benefit
      of
      the holders of the IPO shares, as described in greater detail in the prospectus
      relating to the IPO.

     

    [Signature
      Page to Follow]

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	
               

            	
               

            	
               

            	
               

            	
               

            	
              George
                Sagredos

            	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	
              Print
                Name of Insider

            	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	/s/
              George
              Sagredos      	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	
              Signature

            	
               

            

    

     

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    EXHIBIT A

     

    George
      Sagredos
      has been
      our chief operating officer, president and a director since inception.
      Mr. Sagredos is currently serving as the managing director of the Hermitage
      Group. The Hermitage Group’s business operates in the former Commonwealth of
      Independent States (CIS), the Mediterranean, Far East, China, and Central and
      South America. In 1993, Mr. Sagredos founded Hermitage Resources Ltd., a
      trading firm involved in the arbitrage of oil products in the emerging growth
      markets. While at Hermitage Resources, Mr. Sagredos served as the president
      of the Crude Oil and Products Trading division, focusing on the Russian and
      Mediterranean markets. From 1991 to 1993, Mr. Sagredos served as senior
      trader in the international oil trading division of A.O.T. Zug, in Switzerland.
      From 1987 to 1990, Mr. Sagredos was the senior trader for clean products in
      the Oil Products Trading and International Arbitrage division of Phibro Energy,
      Switzerland. As the senior trader, he was responsible for Mediterranean and
      International Arbitrage for Europe and the Far East. From 1986 to 1987, he
      was
      the senior clean products trader of the Oil Trading Products division of
      Petrogulf S.A., a privately owned independent oil and gas producer, in both
      the
      New York and London offices. Mr. Sagredos joined Goldman Sachs & Co. in
      their New York offices as a trader specializing in the oil futures industry
      in
      1985. Prior to joining Goldman Sachs & Co., Mr. Sagredos was a tanker
      broker for D&L Partners in New York. From 1983 to 1984, he was part of the
      dry cargo chartering operations for Thenamaris Maritime. Mr. Sagredos began
      his career with Noga, S.A./Olegine, S.A. in Geneva, managing the company’s
      shipping finances. Mr. Sagredos received his M.Sc. in chemical engineering
      from ETH Zurich, Switzerland in 1980. He received a Masters in Business
      Administration from the Wharton School of Business at the University of
      Pennsylvania in 1982.

     

     

    
      
        
        

      

      6

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