Document:

Unassociated Document

    EXHIBIT
      10.4 

     

    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 Executive 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

        
          

        

      

      
        
        

      

    

     

    
      	
               

            	
               

            	
               

            	
               

            	
               

            	
              Arie
                Silverberg

            	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	
              Print
                Name of Insider

            	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	/s/ Arie
              Silverberg     	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	
              Signature

            	
               

            

    

     

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    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.

     

    
      
        
        

      

      
        6EXHIBIT
      10.5 

     

    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, a 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 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

        
          

        

      

      
        
        

      

    

     

    
      	
               

            	
               

            	
               

            	
               

            	
               

            	
              David
                Wong

            	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	
              Print
                Name of Insider

            	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	/s/ 
David
              Wong     	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	
              Signature

            	
               

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    EXHIBIT A

     

    David
      Wong
      has been
      a director since inception. Since 2003, Mr. Wong has managed the fuel oil
      division of Petronas Trading Corporation, where he is responsible for overseeing
      the logistics of supply requirements and tankage (the amount a tank can hold)
      for the company’s Malaysia and Singapore operations. Petronas ranks among the
      world’s major oil companies with extensive worldwide operations. Mr. Wong
      joined Petronas Trading in 2003. From 1999 to December 2002, Mr. Wong
      served as the chief operating officer for Marubeni International Petroleum
      Company (MIPCO), a subsidiary of the international trading company, Marubeni
      Corporation. From 1996 to 1999, Mr. Wong worked for Marc Rich Investments
      B.V., one of the world’s leading commodity trading companies, and Marubeni
      Singapore, developing their supplies of petroleum products. Mr. Wong
      received a B.Sc. degree, with honors, in civil engineering and management
      studies from the University of Leeds in the United Kingdom in 1978, and a
      Masters in Business Administration, with an emphasis in finance and
      transportation economics, from the University of British Columbia in
      Canada.

     

    
      
        
        

      

      
        6

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