Document:

EX-10.41

 Exhibit 10.41 

STRUCTURING FEE AGREEMENT 

This Structuring Fee Agreement (the “Agreement”), dated as of
                    , 2015 (the “Effective Date”), is made by and between InfraREIT, Inc., a Maryland corporation (the
“Company”), and Hunt-InfraREIT, L.L.C., a Delaware limited liability company (“Hunt-InfraREIT”). 

RECITALS 
 WHEREAS, the
Company has filed with the United States Securities and Exchange Commission a registration statement on Form S-11 (the “Registration Statement”) with respect to an initial public offering (the “IPO”) of its common
stock, par value $0.01 per share (“Common Stock”); 
 WHEREAS, in consideration for the significant time and effort of
Hunt-InfraREIT and its affiliates in connection with preparing the Company for the IPO, the Company desires to pay to Hunt-InfraREIT
                     shares of Common Stock (the “Structuring Fee Securities”) pursuant to the terms and conditions set forth
herein; 
 WHEREAS, Hunt-InfraREIT desires to accept the Structuring Fee Securities, subject to the terms and conditions set forth herein.

 NOW, THEREFORE, in consideration of the premises and of the mutual promises, covenants, conditions and agreements contained herein, and
for other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 

1.    Structuring Fee Securities.  

       1.1.    Allocation.    The Company hereby agrees to
pay the Structuring Fee Securities to Hunt-InfraREIT at the Closing (as defined below). 

       1.2.    Terms of Common Stock.    The powers,
privileges and rights of the holders of shares of Common Stock, and the qualifications, limitations and restrictions thereof, are set forth in the charter of the Company as in effect as of the date hereof, attached hereto as Exhibit A,
and as the same may be amended and restated effective as of the closing of the IPO (the “IPO Closing”), the form of which is attached hereto as Exhibit B (collectively, as may be amended and restated from time to time,
the “Charter”). 
 2.    Closing.    The closing of the transactions
contemplated by this Agreement (the “Closing”) shall occur as of the Effective Date. 

3.    Representations and Warranties of the Company.    The Company hereby represents and
warrants to Hunt-InfraREIT as follows: 
        3.1.    Organization, Good
Standing, Power and Qualification.    The Company is a corporation duly incorporated, validly existing and in good standing under the laws of the State of Maryland and has all requisite corporate power and authority to own
and operate its properties and assets and to carry on its business as presently conducted and as proposed to be conducted. 

  
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       3.2.    Authorization.    This Agreement and the
transactions contemplated hereby, including the issuance of the Structuring Fee Securities, have been duly authorized by all necessary corporate action on behalf of the Company in order to authorize the Company to enter into this Agreement. This
Agreement, when executed and delivered by the Company, shall constitute a valid and legally binding obligation of the Company, enforceable against the Company in accordance with its terms except (i) as limited by applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent conveyance, or other laws of general application relating to or affecting the enforcement of creditors’ rights generally, or (ii) as limited by laws relating to the availability of
specific performance, injunctive relief, or other equitable remedies. 

       3.3.    Structuring Fee Securities.    The
Structuring Fee Securities, when issued, sold and delivered in accordance with the terms and for the consideration set forth in this Agreement, will be validly issued, fully paid and nonassessable and free of restrictions on transfer other than
(i) restrictions on transfer set forth in (y) the Charter or (z) applicable state and federal securities laws and (ii) liens or encumbrances created by or imposed by Hunt-InfraREIT. Assuming the accuracy of the representations of
Hunt-InfraREIT in Section 4 of this Agreement, the Structuring Fee Securities will be issued in material compliance with all applicable federal and state securities laws. 

4.    Representations and Warranties of Hunt-InfraREIT.    Hunt-InfraREIT hereby represents and
warrants to the Company as follows: 
        4.1.    Organization, Good Standing,
Power and Qualification.    Hunt-InfraREIT is a limited liability company duly formed, validly existing and in good standing under the laws of the State of Delaware and has all requisite limited liability company power and
authority to own and operate its properties and assets and to carry on its business as presently conducted and as proposed to be conducted. 

       4.2.    Authorization.    This Agreement and the
transactions contemplated hereby have been duly authorized by all necessary limited liability company action on behalf of Hunt-InfraREIT in order to authorize Hunt-InfraREIT to enter into this Agreement. This Agreement, when executed and delivered
by Hunt-InfraREIT, shall constitute a valid and legally binding obligation of Hunt-InfraREIT, enforceable against Hunt-InfraREIT in accordance with its terms except (i) as limited by applicable bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance, or other laws of general application relating to or affecting the enforcement of creditors’ rights generally, or (ii) as limited by laws relating to the availability of specific performance, injunctive
relief, or other equitable remedies. 
        4.3.    Acquisition Entirely for
Own Account.    This Agreement is made with Hunt-InfraREIT in reliance upon Hunt-InfraREIT’s representation to the Company, which by Hunt-InfraREIT’s execution of the Agreement, Hunt-InfraREIT hereby confirms, that,
subject to the final sentence of this Section 4.3, the Structuring Fee Securities to be acquired by Hunt-InfraREIT will be acquired for investment for Hunt-InfraREIT’s own account, not as a nominee or agent, and not with a view to the
resale or distribution of any part thereof, and that Hunt-InfraREIT has no present intention of selling, granting any participation in, or otherwise distributing the same. By executing this Agreement, Hunt-InfraREIT further represents that, subject
to the final sentence of this Section 4.3, Hunt-InfraREIT does not presently have any 

  
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contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to any of the Structuring Fee
Securities. Hunt-InfraREIT has not been formed for the specific purpose of acquiring the Structuring Fee Securities. Notwithstanding anything to the contrary contained in this Section 4.3, Hunt-InfraREIT has agreed to transfer a portion of the
shares of Common Stock issued to it hereunder to OPTrust N.A. Holdings Trust (“OpTrust”) pursuant to an agreement of transfer in which OpTrust has made representations and warranties that are reasonably necessary to confirm that
such transfer does not otherwise cause the issuance of the Structuring Fee Securities pursuant to this Agreement to fail to be exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). 

       4.4.    Restricted Securities.    Hunt-InfraREIT
understands that the Structuring Fee Securities have not been, and will not be, registered under the Securities Act, by reason of a specific exemption from the registration provisions of the Securities Act that depends upon, among other things, the
bona fide nature of the investment intent and the accuracy of Hunt-InfraREIT’s representations as expressed herein. Hunt-InfraREIT understands that the Structuring Fee Securities are “restricted securities” under applicable U.S.
federal and state securities laws and that, pursuant to these laws, Hunt-InfraREIT must hold the Structuring Fee Securities indefinitely unless they are registered with the Securities and Exchange Commission and qualified by state authorities, or an
exemption from such registration and qualification requirements is available. Hunt-InfraREIT acknowledges that the Company has no obligation to register or qualify the Structuring Fee Securities for resale other than pursuant to the terms of the
Registration Rights Agreement among the Company, Hunt-InfraREIT and the other investors party thereto, as it will be amended and restated upon the IPO Closing. Hunt-InfraREIT further acknowledges that if an exemption from registration or
qualification is available, it may be conditioned on various requirements including, but not limited to, the time and manner of sale, the holding period for the Structuring Fee Securities, and on requirements relating to the Company that are outside
of Hunt-InfraREIT’s control, and that the Company is under no obligation and may not be able to satisfy. 

       4.5.    Legends.    Hunt-InfraREIT understands that
the Structuring Fee Securities and any securities issued in respect of or exchange for the Structuring Fee Securities, may bear one or all of the following legends: 

                 (a)    “THE
SECURITIES REPRESENTED HEREBY HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), THE SECURITIES LAWS OF ANY STATE OR ANY OTHER APPLICABLE U.S. OR NON-U.S.
SECURITIES LAWS, IN EACH CASE IN RELIANCE UPON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND SUCH LAWS. SUCH SECURITIES MAY NOT BE SOLD, PLEDGED, OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR A VALID EXEMPTION FROM
THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF THE SECURITIES ACT, ANY APPLICABLE STATE SECURITIES LAWS AND ANY OTHER APPLICABLE SECURITIES LAWS.” 

  
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                 (b)    Any legend
required by the Charter and/or the securities laws of any state or any other securities laws to the extent such laws are applicable to the Structuring Fee Securities. 

       4.6.    Accredited Investor.    Hunt-InfraREIT is an
accredited investor as defined in Rule 501(a) of Regulation D promulgated under the Securities Act. 

       4.7.    No General Solicitation.    Neither the
Company, nor any of its respective agents, has either directly or indirectly, including through a broker or finder (i) engaged in any general solicitation, or (ii) published any advertisement in connection with the offer and sale of the
Structuring Fee Securities. Hunt-InfraREIT has a pre-existing relationship with the Company and has not relied upon any of the statements contained in the Registration Statement in connection with its determination to accept the Structuring Fee
Securities. In making the decision to accept the Structuring Fee Securities, Hunt-InfraREIT has relied solely upon (i) the Charter and this Agreement, and (ii) its own independent investigations of the business to be undertaken by the
Company or investigations conducted by its own independent advisers in evaluating its participation in the Company. 

5.    Miscellaneous. 

       5.1.    Amendments; Waiver.    This Agreement may be
amended, modified or supplemented only by a written instrument signed by each of the parties hereto. No waiver of any of the provisions of this Agreement shall be valid and enforceable unless such waiver is in writing and signed by the party to be
charged, and, unless otherwise stated therein, no such waiver shall constitute a waiver of any other provision hereof (whether or not similar) or a continuing waiver. 

       5.2.    Binding Effect; Assignment.    This Agreement
shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their
respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement. 

       5.3.    Entire Agreement.    This Agreement
constitutes the entire agreement between the parties pertaining to the subject matter hereof and supersedes all prior and contemporaneous negotiations, agreements and understandings of the parties. 

       5.4.    Governing Law.    This Agreement will be
governed by and construed in accordance with the laws of the State of Maryland without regard to any conflicts of law provisions that would result in the application of the laws of any other jurisdiction. Any legal action or proceeding arising from
this Agreement shall be adjudicated solely and exclusively in the state and/or federal courts in Maryland. Each party irrevocably submits to the exclusive jurisdiction of such courts in any such suit, action or proceeding. 

       5.5.    Notices.    All notices, offers or other
communications required or permitted to be given pursuant to this Agreement shall be in writing and may be personally served, sent via facsimile, sent via electronic mail or sent by United States mail or by commercial courier and shall be deemed to
have been given when received at the address set forth below: 

  
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 If to Hunt-InfraREIT: 

Hunt-InfraREIT, L.L.C. 
 Attn:
Hunter L. Hunt, President 
 1900 North Akard Street 

Dallas, TX 75201 
 Facsimile:
214-978-8989 
 E-mail: HHunt@huntoil.com 

If to the Company: 
 InfraREIT,
Inc. 
 Attn: Chief Executive Officer 

1807 Ross Avenue, 4th Floor 

Dallas, TX 75201 
 E-mail:
DCampbell@huntutility.com 
 With a copy to: 

InfraREIT, Inc. 
 Attn: General
Counsel 
 1807 Ross Avenue, 4th Floor 

Dallas, TX 75201 
 E-Mail:
Legal@huntutility.com 
 The address of any party hereto may be changed by a notice in writing given in accordance with the
provisions of this Section 5.6. 

       5.6.    Severability.    If all or any portion of any
provision contained in this Agreement shall be determined by a court of law to be invalid, illegal or unenforceable in any respect for any reason, such provision or portion thereof shall be deemed stricken and severed from this Agreement, and the
remaining provisions and portions thereof shall continue in full force and effect. 

       5.7.    Counterparts.    Any number of
counterparts hereof may be executed and each such counterpart shall be deemed to be an original instrument. A signature delivered by facsimile or other means of electronic transmission shall be deemed to constitute an original signature. 

       5.8.    Titles and Subtitles.    The titles and
subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. 

[Signature page follows] 

  
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 IN WITNESS WHEREOF, the parties have executed this Structuring Fee Agreement as of the date first
set forth above. 
  

					
	InfraREIT, Inc.	 	
			
	By:	 	  
	 	
	Name:	 		 	
	Title:	 		 	
		
	Hunt-InfraREIT, L.L.C.	 	
			
	By:	 	  
	 	
	Name:	 		 	
	Title:	 		 	

 Signature Page to Structuring Fee Agreement 

 EXHIBIT A 

Charter 

 EXHIBIT B 

Amended and Restated CharterEX-10.42

 Exhibit 10.42 

REDEMPTION AGREEMENT 

This redemption agreement (this “Agreement”), dated as of
                    , 2015, is made by and among Hunt-InfraREIT, L.L.C. (“Hunt-InfraREIT”), InfraREIT, Inc. (“InfraREIT
Inc.”) and InfraREIT Partners, LP (the “Operating Partnership”). 
 RECITALS 

WHEREAS, this Agreement is being entered into in connection with the Merger and Transaction Agreement, dated as of
                    , 2015, by and among InfraREIT, L.L.C. (“InfraREIT LLC”), InfraREIT Inc. and the Operating Partnership (as the
same may be amended, modified or supplemented from time to time, the “Merger Agreement”), pursuant to which, among other things, InfraREIT LLC will be merged with and into InfraREIT Inc. (the “Merger”), with
InfraREIT Inc. surviving the Merger as the general partner of the Operating Partnership; 
 WHEREAS, InfraREIT Inc. has filed with the
United States Securities and Exchange Commission a registration statement on Form S-11 (the “Registration Statement”) with respect to an initial public offering (the “IPO”) of its common stock, par value $0.01 per
share (“Common Stock”); 
 WHEREAS, pursuant to the Merger Agreement and Sections 4.6.D and 8.7 of the Second Amended and
Restated Agreement of Limited Partnership of the Operating Partnership (the “Partnership Agreement”), which will become effective as of the closing of the IPO (the “IPO Closing”), Hunt-InfraREIT desires to exercise
its Redemption Right (as defined in the Partnership Agreement) with respect to             Class A units representing limited partnership interests in the Operating Partnership (the
“Redeemed Units”); 
 WHEREAS, pursuant to Section 8.7.B of the Partnership Agreement, InfraREIT Inc. desires to
assume the Operating Partnership’s obligation to redeem the Redeemed Units by paying Hunt-InfraREIT the Shares Amount (as defined in the Partnership Agreement) equal to             
shares of Common Stock (the “Exchange Shares”). 
 NOW, THEREFORE, in consideration of the premises and of the mutual
promises, covenants, conditions and agreements contained herein, and for other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 

 

	 	1.	Redemption Election and Assumption; Conversion of Redeemed Units. 

 a.
Pursuant to Sections 4.6.D and 8.7.A of the Partnership Agreement and subject to Section 2 of this Agreement, Hunt-InfraREIT hereby (i) exercises its Redemption Right with respect to the Redeemed Units and (ii) surrenders the
Redeemed Units and all right, title and interest therein. 

  
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 b. Pursuant to Section 8.7.B of the Partnership Agreement, InfraREIT Inc.
elects to assume directly and satisfy Hunt-InfraREIT’s exercise of the Redemption Right pursuant to Section 1(a) of this Agreement by issuing the Exchange Shares in exchange for the Redeemed Units, and Hunt-InfraREIT hereby consents
to InfraREIT Inc.’s election to assume directly and satisfy Hunt-InfraREIT’s exercise of the Redemption Right pursuant to Section 1(a) of this Agreement. 

c. Upon InfraREIT Inc.’s acquisition of the Redeemed Units pursuant to Section 1(b) of this Agreement, and
pursuant to Section 4.6.C of the Partnership Agreement, the Redeemed Units will be automatically converted into an equivalent number of Common Units (as defined in the Partnership Agreement). 

2. Effective Time. The closing of the transactions contemplated by this Agreement shall occur immediately following the IPO Closing and
simultaneously with the Merger. 
 3. Waiver of Minimum Holding Period. Each of the parties hereto expressly agrees and acknowledges
that the transactions contemplated by this Agreement shall be deemed to be in full satisfaction of the parties’ respective rights and obligations under Section 8.7 of the Partnership Agreement with respect to the redemption of the Redeemed
Units, notwithstanding the provisions of such section imposing minimum holding periods, notice requirements or other conditions upon the exercise of the Redemption Right and the other transactions contemplated hereby. 

4. Termination. If the IPO Closing shall not have occurred within 10 business days of the date of this Agreement, this Agreement shall
automatically terminate and be of no further force and effect. 
 5. Entire Agreement. This Agreement constitutes the entire
agreement between the parties pertaining to the subject matter hereof and supersedes all prior and contemporaneous negotiations, agreements and understandings of the parties. 

6. Binding Effect; Assignment. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their
respective successors and assigns. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under
or by reason of this Agreement. 
 7. Amendment and Modification. This Agreement may be amended, modified or supplemented only by
written agreement of each of the parties hereto. 
 8. Counterparts. Any number of counterparts hereof may be executed and each such
counterpart shall be deemed to be an original instrument. A signature delivered by facsimile or other means of electronic transmission shall be deemed to constitute an original signature. 

9. Governing Law. This Agreement will be governed by and construed in accordance with the laws of the State of Delaware without regard
to any conflicts of law provisions that would result in the application of the laws of any other jurisdiction. Any legal action or proceeding between two or more of the parties to this Agreement shall be adjudicated solely and exclusively in the
state and/or federal courts in Delaware. Each party irrevocably submits to the exclusive jurisdiction of such courts in any such suit, action or proceeding. 

[Signature page follows] 

  
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 IN WITNESS WHEREOF, the parties hereto have each executed and delivered this Agreement as of the
day and year first above written. 
  

			
	Hunt-InfraREIT, L.L.C.
		
	By:	 	 
	  Name:	 	 
	  Title:	 	 

  

			
	InfraREIT, Inc.
		
	By:	 	 
	  Name:	 	 
	  Title:	 	 

  

			
	 InfraREIT Partners, LP
  

By: InfraREIT, L.L.C., its general partner

		
	            By:	 	 
	              Name:	 	 
	              Title:	 	 

  
 [Signature Page to
Redemption Agreement (Hunt-InfraREIT)]

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