Document:

PLACEMENT
        UNIT AGREEMENT

       

      PLACEMENT
        UNIT AGREEMENT (this
        “Agreement”) made
        as
        of this ____ day of _______________ between Energy Infrastructure Acquisition
        Corp., a Delaware corporation (the “Company”), Maxim Group LLC (“Maxim”) and the
        undersigned (the “Purchasers”).

       

      WHEREAS,
        the Company has filed with the Securities and Exchange Commission (“SEC”) a
        registration statement on Form S-1, as amended (the “Registration Statement”),
        in connection with the Company’s initial public offering (the “IPO”) of up to
        17,250,000 units, each unit (“Unit”) consisting of one share of the Company’s
        common stock, $.0001 par value (the “Common Stock”), and (ii) one warrant (the
“Warrants”), each Warrant to purchase one share of Common Stock;
        and

       

      WHEREAS,
        the Company desires to sell in a private placement pursuant to Regulation
        S
        under the Securities Act of 1933, as amended (the “Securities Act”), to the
        Purchasers (the “Placement”) an aggregate of 825,398 units (the “Placement
        Units”) substantially identical to the Units being issued in the IPO pursuant to
        the terms and conditions hereof and as set forth in the Registration Statement,
        except that the Placement Units, Common Stock and Warrants to be issued in
        the
        Placement shall not be registered under the Securities Act; and

       

      WHEREAS,
        the Purchasers have agreed, directly or through nominees, to purchase an
        aggregate of 825,398 Placement Units at a purchase price of $10.00 per Placement
        Unit, or an aggregate of $8,253,980 (the “Purchase Price”); and

       

      WHEREAS,
        the Warrants included in the Placement Units shall be governed by the Warrant
        Agreement filed as an exhibit to the Registration Statement; and 

       

      WHEREAS,
        Maxim is acting as placement agent for the Placement;

       

      NOW,
        THEREFORE, for and in consideration of the premises and the mutual covenants
        hereinafter set forth, the parties hereto do hereby agree as
        follows:

       

      1. Closing.
        The
        closing of the purchase and sale of the Placement Units (the “Closing”) will
        take place upon the earlier of (i) four days prior to the effective date of
        the Company's IPO or (ii) December 31, 2006 (the “Closing Date”).
        Immediately prior to the closing of the IPO, the Company shall deposit the
        Purchase Price into the trust account described in the Registration Statement
        (the “Trust Account”). 

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      2. Placement
        Fees.
        The
        Company agrees that Maxim is entitled to a placement fee equal to 6% of the
        Purchase Price. Of such 6% placement fee, Maxim agrees that (i) 5% of such
        fee
        ("Deferred Fees") shall be paid by the Company from the interest earned on
        the
        Trust Account (net of taxes payable and otherwise available to the Company)
        in
        four quarterly installments of $103,174.75, following the consummation of
        the IPO, but only after the first full quarter after the Company has drawn
        an
        aggregate of $1 million in accrued interest from the Trust Account to fund
        working capital and other expenses and (ii) 1% of the Purchase Price
        ($82,540) (the “Placement Contingency Fee”) will be deposited into and held in
        the Trust Account and will be payable to Maxim only upon the consummation
        of a
“Business Combination” as described in the Registration Statement. In the event
        that the Company does not consummate a Business Combination in the time
        described in the Registration Statement and the Trust Account is liquidated,
        Maxim agrees it shall have forfeited all rights and claims whatsoever to
        the
        Placement Contingency Fee. Notwithstanding the above payment schedule with
        respect to the Deferred Fees, any balance due of the Deferred Fees shall
        be paid
        upon the earlier to occur of the consummation of a Business Combination or
        dissolution and liquidation of the Company.

       

      3. Representations
        and Warranties of the Company, Maxim and the Purchasers.
        

       

      3.1 Each
        of
        the Company and Maxim warrants and represents to one another and to the
        Purchasers that such party has, nor have their respective affiliates, nor
        any
        person acting on their behalf (i) offered or sold the Placement Units within
        the
        United States, or to any “U.S. Person” (within the meaning of 902(k) of
        Regulation S under the Securities Act), or (ii) offered or sold the Placement
        Units by means of any “Directed Selling Efforts” (within the meaning of Rule
        902(c) of Regulation S under the Securities Act).

      

      3.2 Each
        of
        Maxim, the Company and the Purchasers have the full right, power and authority
        to enter into this Agreement and this Agreement is a valid and legally binding
        obligation of Maxim, the Company and the Purchasers enforceable against them
        in
        accordance with its terms.

      

      4. Voting
        of Shares.
        If the
        Company solicits approval of its stockholders of a Business Combination,
        the
        Purchasers shall vote all of the shares of the Common Stock acquired by the
        Purchasers (i) pursuant to this Agreement, (ii) in the IPO and (iii) in the
        aftermarket following the IPO in favor of the Business Combination.

      

      5.  Waiver
        of Liquidation Distributions.
        In
        connection with the Placement Units purchased pursuant to this Agreement,
        the
        Purchasers hereby waive any and all right, title, interest or claim of any
        kind
        in or to any liquidating distributions by the Company in the event of a
        liquidation of the Company upon the Company's failure to timely complete
        a
        Business Combination. For purposes of clarity, any shares of Common Stock
        purchased in the IPO or the aftermarket by the Purchasers shall be eligible
        to
        receive any liquidating distributions by the Company. 

      

      6.  Restrictions
        on Transfer.
        The
        Purchasers agree to be bound by the transfer restrictions contained in that
        certain subscription agreement dated January 2, 2006 between the Company
        and
        George Sagredos (the “Subscription Agreement”).

      

      
        
          
          

        

        
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      7. Waiver
        of Claims; Indemnification. Each
        Purchaser hereby waives any and all rights to assert any present or future
        claims, including any right of rescission, against the Company, Maxim or
        the
        other underwriters in the IPO exclusively with respect to their purchase
        of the
        Placement Units hereunder, and each Purchaser agrees to indemnify and hold
        the
        Company, Maxim and the other underwriters in the IPO harmless from all losses,
        damages or expenses that relate to claims or proceedings brought against
        the
        Company, Maxim or such other underwriters by such Purchaser of the Placement
        Units arising solely out of the purchase of the Placement Units
        hereunder.

      

      8. Transfers
        and Assigns.
        In the
        event a Purchaser transfers or assigns any interest in the Placement Units,
        any
        such transferee or assignee, as a condition precedent to such transfer or
        assignment, shall agree to be bound by the terms of this Agreement and the
        Subscription Agreement. Such agreement to be bound shall be evidenced by
        an
        agreement, in form and substance satisfactory to the Company, duly executed
        by
        and among the Company, the Purchaser and the Purchaser’s transferee or
        assignee.

      

      9. Counterparts;
        Facsimile.
        This
        Agreement may be executed in any number of counterparts, each of which when
        so
        executed shall be deemed to be an original and all of which taken together
        shall
        constitute one and the same instrument. This Agreement or any counterpart
        may be
        executed via facsimile transmission, and any such executed facsimile copy
        shall
        be treated as an original.

       

      10.Governing
        Law.
        This
        Agreement shall for all purposes be deemed to be made under and shall be
        construed in accordance with the laws of the State of New York. Each of the
        parties hereby agrees that any action, proceeding or claim against it arising
        out of or relating in any way to this Agreement shall be brought and enforced
        in
        the courts of the State of New York or the United States District Court for
        the
        Southern District of New York, and irrevocably submits to such jurisdiction,
        which jurisdiction shall be exclusive. Each of the parties hereby waives
        any
        objection to such exclusive jurisdiction and that such courts represent an
        inconvenient forum.

      
        
          
          

        

        
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      IN
        WITNESS WHEREOF, the undersigned have executed this Agreement as of the __
        day
        of ____________ , 2006.

       

       

       

      
        	 	 	 
	 	ENERGY
                INFRASTRUCTURE ACQUISITION CORP.
	 
 	 
 	 
 
	 	By:  	 
	 	
                
Marios
                Pantazopoulos, Chief Financial Officer
	 	 

      

       

      
        	 	 	 
	 	MAXIM
                GROUP
                LLC
	 
 	 
 	 
 
	 	By:  	 
	 	
                

              

      

       

      
        	 	 	 
	 	PURCHASERS
	 
 	 
 	 
 
	 	   	 
	 	
                

              
	 	 

      

       

       

      
        
          
          

        

        
          4STOCK
      OPTION AGREEMENT

    

    THIS
      STOCK OPTION AGREEMENT (this “Agreement”),
      made
      as of July 21, 2006 (the “Grant
      Date”),
      by
      and between Energy Infrastructure Acquisition Corp., a Delaware corporation
      (the
“Company”),
      and
      George Sagredos, an individual (the “Optionee”):

    

    W
      I T N E S S E T H:

    

    

       

      WHEREAS,
        the Company is in the process of effecting a proposed initial public offering
        of
        units (the “IPO”),
        as
        further described in the Company’s Registration Statement on Form S-1 (Reg. No.
        333-131648); and

       

                     
        WHEREAS, the Optionee is the President and Chief Operating Officer of the
        Company and, in consideration of his continued services for the Company,
        the
        Company wishes to grant options to purchase common stock of the Company to
        the
        Optionee, which shall be effective upon consummation of the IPO, and such
        options which shall vest in accordance with the vesting schedule set forth
        herein.

    

    

    THEREFORE,
      in consideration of the premises and mutual covenants contained herein and
      for
      other good and valuable consideration, the validity and sufficiency of which
      is
      hereby acknowledged, the parties agree as follows:

    

    1. Grant
      of Option.
      Subject
      to the terms and conditions of this Agreement, the Company hereby grants to
      the
      Optionee the right (the “Option”)
      to
      purchase all or any part of an aggregate of 3,000,000 shares of common stock
      of
      the Company, par value $.0001 per share (“Common
      Stock”)
with
      the
      grant of such Option to be effective concurrent with the closing of the
      IPO.

    

    2. Vesting
      Schedule.
Following
      the effectiveness of the grant of the Option, it shall vest (i.e., become
      exercisable) in four equal quarterly installments of 750,000 shares (each such
      installment being referred to as an "Installment"),
      with the first Installment vesting on the date of expiration of the three-month
      period immediately following the consummation of a business combination (the
      “Initial
      Vesting Date”).
      Each
      vested installment thereafter shall be deemed to occur on a “Vesting
      Date”. Notwithstanding the forgoing, the vesting of each
      Installment shall be contingent upon the Optionee being an officer of the
      Company on the corresponding Vesting Date.

    

    3. Exercise
      Price.
      The
      price of each share of Common Stock purchased pursuant to this Option shall
      be
      U.S. $.01 (the “Exercise
      Price”).

    

    4. Exercise
      of Option.
      

    

    (a) The
      Optionee may exercise the Option, in whole or in part, with respect to any
      whole
      number of vested shares of Common Stock subject to the Option (the “Underlying
      Shares”).
      The
      Optionee shall exercise the Option by giving the Company written notice, in
      a
      form prescribed by the Company. Such notice shall specify the number of shares
      of Common Stock to be purchased.

    

    
      	 	
              (i)

            	
              In
                the event the Option is exercised for cash, then such notice shall
                be
                accompanied by payment, in cash or certified check or by official
                bank
                check, of an amount equal to the Option exercise price per share
                of Common
                Stock, multiplied by the number of shares of Common Stock as to which
                the
                Option is being exercised. 

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (ii)

            	
              In
                the event the Option is to be exercised by means of a "cashless exercise"
                in which the Optionee shall be entitled to receive a certificate
                for the
                number of Underlying Shares equal to the quotient obtained by dividing
                [(A-B)*(X)] by (A), where:

            

    

    

    (A)
      = the
      last sale price on the trading day immediately preceding the date of such notice
      to the Company;

     

    (B)
      =
 
      the
      Exercise Price of this Option, as adjusted; and

     

    (X)
      =
 the
      number of Underlying Shares issuable upon exercise of this Option in accordance
      with the terms of this

             
       Option by means of a cash exercise rather than a cashless
      exercise.

    

    5. Delivery
      of Common Stock Certificate.
      Subject
      to Section 6, as soon as practicable after receipt of the notice and payment
      referred to in Section 4 above, the Company shall deliver to the Optionee a
      certificate or certificates for such Underlying Shares (such date, the
“Issuance
      Date”);
      provided,
      however,
      that
      the time of such delivery may be postponed by the Company for such period of
      time as the Company may require for compliance with any law, rule or regulation
      applicable to the issuance or transfer of Underlying Shares. The certificate
      or
      certificates representing the shares as to which the Option has been exercised
      shall bear an appropriate legend setting forth any restrictions applicable
      to
      such shares of Common Stock.

    

    6. Conditions
      to Common Stock Issuance.
      Prior
      to or concurrently with delivery by the Company to the Optionee of a
      certificate(s) representing such shares of Common Stock, the Optionee shall
      (i)
      if applicable, upon notification of the amount due, promptly pay or cause to
      be
      paid, in cash, any amount necessary to satisfy any tax requirements (or
      otherwise satisfy such requirements in a manner satisfactory to the Company),
      (ii) give assurance, satisfactory to the Company, that he will hold, and refrain
      from any transfer or sale of the Underlying Shares from their respective
      Issuance Date until the six-month anniversary of such respective Issuance Date,
      and (iii) give assurance, satisfactory to the Company. that such Underlying
      Shares are being purchased for investment and not with a view toward the
      distribution thereof other than in compliance with the registration provisions
      of the Securities Act of 1933, as amended (the “Securities
      Act”)
      or any
      exemption therefrom, and the Optionee shall give such other assurance and take
      such other action as the Company shall require to secure compliance with any
      law, rule or regulation applicable to the issuance of shares of Common Stock.
      

    

    7. Termination
      of Option.
      This
      Option and all rights of the Optionee to purchase shares of Common Stock
      hereunder shall terminate on the fifth anniversary of the respective Underlying
      Shares as of their respective Vesting Date (the “Expiration
      Date”)
      unless
      terminated earlier in accordance with the terms hereof.

    

    8. Early
      Termination of Option.
      In the
      event that the Optionee shall no longer be an employee of the Company (i) to
      the
      extent that, pursuant to Section 2 of this Agreement, the Option is not vested
      as of the date of such termination, the Option shall expire, and (ii) to the
      extent that, pursuant to Section 2 of this Agreement, the Option is vested
      as of
      the date of such termination, the Option shall continue to be exercisable until
      the Expiration Date.

     

    
      
        
        

      

      
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    9. Certain
      Adjustments.

    

    (a) In
      the
      event that the Company or the division, subsidiary or other affiliated entity
      for which the Optionee performs services is sold (including a stock or an asset
      sale), spun off, merged, consolidated, reorganized or liquidated, the Board
      may
      determine that (i) the Option shall be assumed, or a substantially equivalent
      Option shall be substituted, by an acquiring or succeeding entity (or an
      affiliate thereof) on such terms as the Board determines to be appropriate;
      (ii)
      upon written notice to the Optionee, provide that the Option shall terminate
      immediately prior to the consummation of the transaction unless exercised by
      the
      Optionee within a specified period following the date of the notice; (iii)
      in
      the event of a sale or similar transaction under the terms of which holders
      of
      Common Stock receive a payment for each share of Common Stock surrendered in
      the
      transaction (the “Sales
      Price”),
      make
      or provide for a payment to each Optionee equal to the amount by which (A)
      the
      Sales Price times the number of shares of Common Stock subject to the Option
      (to
      the extent such Option is then exercisable) exceeds (B) the aggregate exercise
      price for all such shares of Common Stock; or (iv) may make such other equitable
      adjustments as the Board deems appropriate.

    

    (b) In
      the
      event of any stock dividend or split, recapitalization, combination, exchange
      or
      similar change affecting the Common Stock, the Board shall make any or all
      of
      the following adjustments as it deems appropriate to equitably reflect such
      event: (i) adjust the Exercise Price to be paid for any or all shares
      subject to this Agreement, (ii) adjust the number of shares of Common Stock
      (or such other security as is designated by the Board) subject to this Agreement
      and (iii) make any other equitable adjustments or take such other equitable
      action as the Board, in its discretion, shall deem appropriate.

    

    (c) Any
      and
      all adjustments or actions taken by the Board pursuant to this Section shall
      be
      conclusive and binding for all purposes.

     

    
      
        
        

      

      
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    10. Notice.
      All
      notices, request, demands, waivers and communications required or permitted
      to
      be given hereunder shall be in writing and shall be delivered in person or
      mailed, certified or registered mail with postage prepaid, or sent by facsimile,
      as follows:

    

    To
      Company:

    

    Energy
      Infrastructure Acquisition Corp. 

    641
      Fifth
      Avenue

    New
      York,
      New York 10022

    Attention:
      Marios Pantazopoulos, Chief Financial Officer

    Telecopy:
      _______________

    

    To
      Optionee:

    

    Mr.
      George Sagredos

    c/o
      Energy Infrastructure Acquisition Corp. 

    641
      Fifth
      Avenue

    New
      York,
      New York 10022

    Telecopy:
      _______________

    

    or
      to
      such other address or to the attention of such other person as the recipient
      party shall have specified by prior written notice to the sending party. In
      the
      case of mailing, all such notices, requests, demands, waivers and communications
      shall be deemed to have been received on the third business day after the date
      of the mailing.

    

    11. No
      Restriction on the Right of the Company to Effect Corporate
      Changes.
      The
      Option granted hereunder shall not affect in any way the right or power of
      the
      Company or its stockholders to make or authorize any or all adjustments,
      recapitalization, reorganizations or other changes in the Company’s capital
      structure or its business, or any merger or consolidation of the Company, or
      any
      issue of stock or of options, warrants or rights to purchase stock or of bonds,
      debentures, preferred or prior preference stocks whose rights are superior
      to or
      affect the Common Stock or the rights of holders thereof or which are
      convertible into or exchangeable for Common Stock, or the dissolution or
      liquidation of the Company, or any sale or transfer of all or any part of its
      assets or business, or any other corporate act or proceeding, whether of a
      similar character or otherwise.

    

    12. No
      Stockholder Rights.
      The
      Optionee shall have no rights as a stockholder of the Company with respect
      to
      the Underlying Shares subject to the Option until such Underlying Shares have
      been fully paid in accordance with this Agreement.

    

    13. Transferability.

    

    (a) Except
      as
      provided in paragraph (b) to this Section 13, the Option is not transferable,
      and may be exercised only by the Optionee. In the event of any attempt by the
      Optionee to transfer, assign, pledge, hypothecate or otherwise dispose of the
      Option or of any right hereunder, except as provided for herein, or in the
      event
      of the levy of any attachment, execution or similar process upon the rights
      or
      interest hereby conferred, the Company may terminate the Option by notice to
      the
      Optionee and it shall thereupon become null and void.

    

    
      
        
        

      

      
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    (b) Notwithstanding
      paragraph (a), the Optionee may transfer or assign the Option to its assignees
      or designees so long as such assignees or designees agree (in writing) to be
      bound by the terms of this Agreement.

    

    14. Representations
      By and Covenants of Optionee.

    

    The
      following representations, warranties and covenants by Optionee are made as
      of
      the date of this Agreement and, unless stated otherwise herein, are also made
      as
      of each date of exercise of this Agreement.

    

    (a) Optionee
      recognizes that an investment in the Company involves a high degree of risk
      for
      many reasons, including without limitation, in that (i) the Underlying
      Shares are highly speculative and only investors who can afford the loss of
      their entire investment of money should consider purchasing the Underlying
      Shares; (ii) as of the date of this Agreement, there is no public market for
      the
      Underlying Shares and an investor may not be able to liquidate its investment;
      (iii) as of the date of this Agreement, the Company has no operating history
      upon which to base its likelihood for success; and (iv) transferability of
      the Underlying Shares is extremely limited. Optionee
      should invest only with the expectation of losing its entire
      investment.

    

    (b) The
      Optionee represents that it is an “accredited investor” as such term is defined
      in Rule 501 of Regulation D (“Reg.
      D”)
      promulgated under the Securities Act by virtue of the fact that Optionee comes
      within any one or more of the following categories (please initial below all
      as
      applicable).

    

    (i) A
      bank as
      defined in Section 3(a)(2) of the Securities Act, or any savings and loan
      association or other institution as defined in Section 3(a)(5)(A) of the
      Securities Act whether acting in its individual or fiduciary capacity; a broker
      dealer registered pursuant to Section 15 of the Securities and Exchange Act
      of
      1934; an insurance company as defined in Section 2(13) of the Securities Act;
      an
      investment company registered under the Investment Company Act of 1940 or a
      business development company as defined in Section 2(a)(48) of the Investment
      Company Act of 1940; a Small Business Investment Company licensed by the U.S.
      Small Business Administration under Section 301(c) or (d) of the Small Business
      Investment Act of 1958; any plan established and maintained by a state, its
      political subdivisions, or any agency or instrumentality of a state or its
      political subdivisions, for the benefit of its employees, if such plan has
      total
      assets in excess of $5,000,000; an employee benefit plan within the meaning
      of
      the Employee Retirement Income Security Act of 1974 (“ERISA”),
      if
      the investment decision is made by a plan fiduciary, as defined in Section
      3(21)
      of ERISA, which is either a bank, savings and loan association, insurance
      company, or registered investment advisor, or if the employee benefit plan
      has
      total assets in excess of $5,000,000, or if a self-directed plan, with
      investment decisions made solely by persons that are accredited
      investors;

    

    
      
        
        

      

      
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    (ii) Any
      private business development company as defined in Section 202(a)(22) of the
      Investment Advisers Act of 1940;

    

    (iii) Any
      organization
      described in Section 501(c)(3) of the Internal Revenue Code, corporation,
      Massachusetts or similar business trust, or partnership not formed for the
      specific purpose of acquiring the securities offered, with total assets in
      excess of $5,000,000;

    

    (iv) Any
      trust, with total assets in excess of $5,000,000, not formed for the specific
      purpose of acquiring the securities offered, whose purchase is directed by
      a
      sophisticated person as described in Rule 506(b)(2)(ii) of Regulation
      D;

    

    (v) Any
      natural person whose individual net worth or joint net worth with that person’s
      spouse, at the time of his purchase, exceeds $1,000,000;

    

    (vi) Any
      natural person who had an individual income in excess of $200,000 in each of
      the
      two most recent years or joint income with that person’s spouse is in excess of
      $300,000 in each of those years and has a reasonable expectation of reaching
      the
      same income in the current year, or

    

    (vii) Any
      entity in which all of the equity owners are accredited investors.

    

    The
      Optionee acknowledges that the Company has the right to require evidence of
      the
      Optionee’s status as an accredited investor.

    

    (c) Notwithstanding
      anything contained
      in Section 14(a), by initializing this line _____ the Optionee:

    

    (i) represents
      and warrants that it is not a “U.S. Person,” as defined in Rule 902(k) of Reg. S
      and is not acquiring the Underlying Shares for the account or benefit of any
      U.
      S. person; 

    

    (ii) acknowledges
      its understanding that the offering and sale of the Underlying Shares is also
      intended to be exempt under the Securities Act by virtue of Reg. S;

    

    (iii) acknowledges
      that the purchase of the Underlying Shares by the Optionee is not taking place
      within the “United States,” as defined in Rule 902(l) of Reg. S, but rather in
      an “offshore transaction,” as defined in Rule 902 (h) of Reg. S;

    

    (iv) understands
      and acknowledges that the Underlying Shares are not registered under the
      Securities Act and as such the Optionee agrees to resell the Underlying Shares
      only in accordance with the provisions of Reg. S (subject to the other
      provisions hereof), pursuant to registration under the Securities Act or
      pursuant to an exemption from the registration requirements of the Securities
      Act;

    

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    (v) acknowledges
      that the Underlying Shares have not been registered under the laws of any other
      country or jurisdiction, and the Company takes no responsibility for complying
      with such laws; and

    

    (vi) understands
      that the Company will not register any transfer of the Underlying Shares not
      made in accordance with Reg. S, pursuant to registration under the Securities
      Act or pursuant to an available exemption under the Securities Act.

    

    (d) Optionee
      acknowledges that it has significant prior investment experience, including
      investments in non-listed and non-registered securities, or it has employed
      the
      services of an investment advisor, attorney or accountant to read all of the
      documents furnished or made available by the Company and to evaluate the merits
      and risks of such an investment on its behalf, and Optionee represents that
      it
      understands the highly speculative nature of this investment which may result
      in
      the loss of the total amount of such investment.

    

    (e) Optionee
      has adequate means of providing for his current needs and possible personal
      contingencies, and Optionee has no need, and anticipates no need in the
      foreseeable future, for liquidity in his investment in the Underlying Shares.
      Optionee is able to bear the economic risks of this investment and,
      consequently, without limiting the generality of the foregoing, Optionee is
      able
      to hold the Underlying Shares an indefinite period of time and has a sufficient
      net worth to sustain a loss of the entire investment in the event such loss
      should occur. Optionee has not made an overall commitment to investments which
      are not readily marketable that are disproportionate to his net worth, and
      his
      investment in the Underlying Shares will not cause such overall commitment
      to
      become excessive.

    

    (f) Optionee
      acknowledges and represents that Optionee is the President and Chief Operating
      Officer of the Company and as such has furnished with all information regarding
      the Company which it requested or desired to know; and that it has been afforded
      the opportunity to ask questions of and receive answers from duly authorized
      officers or other representatives of the Company concerning the terms and
      conditions of this offering; and that the Company has no business plan other
      than effecting a business combination.

    

    (g) Optionee
      acknowledges that he is not acquiring the Underlying Shares as a result of
      any
      general solicitation or advertising.

    

    (h) Optionee
      acknowledges that the Company has not provided any tax advice or other
      information related thereto. The Optionee acknowledges that it must retain
      its
      own professional advisors to evaluate the tax and other consequences of an
      investment in the Underlying Shares.

    

    (i) Optionee
      acknowledges that this offering of Underlying Shares has not been reviewed
      by
      the United States Securities and Exchange Commission (the “SEC”)
      because of the Company’s representations that this is intended to be a
      non-public offering pursuant to Section 3(b) or Section 4(2) of the Securities
      Act and Rule 506 under Reg. D and/or Rule 903 under Reg. S. The Optionee
      represents that the Underlying Shares are purchased for its own account, for
      investment and not for distribution or resale to others. 

    

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    (j) Optionee
      understands and consents to the placement of a legend on any certificate or
      other document evidencing the Underlying Shares stating that they have not
      been
      registered under the Securities Act and setting forth or referring to the
      restrictions on transferability and sale thereof. Each certificate evidencing
      the Underlying Shares shall bear the legends set forth below, or legends
      substantially equivalent thereto, together with any other legends that may
      be
      required by federal or state securities laws at the time of the issuance of
      the
      Underlying Shares:

    

    THE
      SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES
      SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE OFFERED, SOLD OR
      OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL (I) REGISTERED
      UNDER THE SECURITIES ACT OR (II) (A) THE ISSUER OF THE SHARES (THE “ISSUER”) HAS
      RECEIVED AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER
      THAT SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS IN COMPLIANCE
      WITH
      THE SECURITIES ACT AND (B) THE TRANSFEREE IS ACCEPTABLE TO THE ISSUER;
      and

    

    If
      the
      Optionee is not a “U.S. Person” as defined in Rule 902(k) of Reg. S, then the
      Underlying Shares shall also contain the following legend:

    

    THE
      SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES
      SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE OFFERED, SOLD OR
      OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE UNITED STATES OR TO OR
      FOR
      THE ACCOUNT OR BENEFIT OF U.S. PERSONS, UNLESS AND UNTIL REGISTERED UNDER THE
      SECURITIES ACT OR THE ISSUER OF THE SHARES (THE “ISSUER”) HAS RECEIVED AN
      OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER THAT SUCH
      OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS IN COMPLIANCE WITH THE
      SECURITIES ACT. ACCORDINGLY, THE SHARES ARE BEING OFFERED AND SOLD ONLY OUTSIDE
      OF THE UNITED STATES IN COMPLIANCE WITH REGULATION S OF THE SECURITIES ACT;
      and

    

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    (k) The
      Optionee understands that prior to the IPO, there has been no market
      for any of the Company’s securities. The Optionee understands that
      notwithstanding the IPO, Rule 144 (the “Rule”)
      promulgated under the Securities Act requires, among other conditions, a one
      year holding period prior to the resale (in limited amounts) of securities
      acquired in a non public offering without having to satisfy the registration
      requirements under the Securities Act. The Optionee understands that the Company
      makes no representation or warranty regarding its fulfillment in the future
      of
      any reporting requirements under the Securities Exchange Act of 1934, as
      amended, or its dissemination to the public of any current financial or other
      information concerning the Company, as is required by the Rule as one of the
      conditions of its availability. The Optionee consents that the Company may
      permit the transfer of the Underlying Shares out of its name only when its
      request for transfer is accompanied by an opinion of counsel reasonably
      satisfactory to the Company that neither the sale nor the proposed transfer
      results in a violation of the Securities Act or any applicable foreign
      securities or U.S. state “blue sky” laws (collectively “Securities
      Laws”).
      The
      Optionee agrees to hold the Company and its directors, officers and controlling
      persons and their respective heirs, representatives, successors and assigns
      harmless and to indemnify them against all liabilities, costs and expenses
      incurred by them as a result of any misrepresentation made by it contained
      herein or any sale or distribution by the undersigned Optionee in violation
      of
      any Securities Laws.

    

    (l) Optionee
      hereby represents that the address of Optionee furnished by him in this
      Agreement is accurate. Optionee understands that the Company is relying on
      the
      accuracy of this representation for purposes of its compliance with applicable
      law or applicable Securities Laws.

    

    (m) The
      Optionee hereby represents that no representations or warranties have been
      made
      to the Optionee by the Company or any agent, employee or affiliate of the
      Company except as set forth herein and in entering into this transaction, the
      Optionee is not relying on any information, other than the results of
      independent investigation by the Optionee.

    

    (n) The
      Optionee represents and warrants that it has not retained any finder, broker,
      agent, or other intermediary in connection with the transactions contemplated
      by
      this Agreement and agrees to indemnify and hold harmless the Company from any
      liability for any compensation to any such intermediary retained by Optionee
      and
      the fees and expenses of defending against such liability or alleged
      liability.

    

    (o) The
      Optionee recognizes and understands that the Company was incorporated on August
      11, 2005 and has engaged in limited activities since its incorporation other
      than corporate organizational activities and has a business plan strictly
      limited to effecting a business combination.

    

    (p) This
      Agreement has been duly executed and delivered by the Optionee and constitutes
      the legal, valid and binding obligation of the Optionee, enforceable in
      accordance with its terms. 

    

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    15. NSO.
      It is
      intended that this Option shall be a non-qualified stock option and shall not
      constitute and incentive stock option for purposes of Section 422 of the
      Internal Revenue Code of 1986, as amended.

    

    16. Compliance
      with Law; Registration of Shares.

    

    (a) The
      Option grant provided hereunder shall be subject to all applicable laws, rules,
      and regulations of any applicable jurisdiction or authority or agency thereof
      and to such approvals by any regulatory or governmental authority or agency
      or
      securities exchange which, in the opinion of Company’s counsel, may be required
      or appropriate.

    

    (b) Upon
      exercise of the Option into shares of Common Stock, the Company shall use its
      best efforts to register such shares under the Securities Act. The Company
      shall
      bear all expenses incurred in connection with the filing of any such
      registration statement.

    

    (c) Notwithstanding
      any other provision of this Agreement, the Company shall not be required to
      issue or deliver any certificate or certificates for shares of Common Stock
      under this Agreement prior to fulfillment of all of the following
      conditions:

    

    (i) Effectiveness
      of any registration or other qualification of such shares of the Company under
      any law or regulation of any applicable jurisdiction or authority or agency
      thereof which the Board shall, in its absolute discretion or upon the advice
      of
      counsel, deem necessary or advisable; and

    

    (ii) Grant
      of
      any other consent, approval or permit from any applicable jurisdiction or
      authority or agency thereof or securities exchange which the Board shall, in
      its
      absolute discretion or upon the advice of counsel, deem necessary or
      advisable.

    

    The
      Company shall use all reasonable efforts to obtain any consent, approval or
      permit described above; provided, however, that the Company shall use its best
      efforts to register or qualify any shares subject to this Agreement under any
      federal or state securities law or on any exchange.

    

    17.
      Waiver of Claims. For and in consideration of the Company engaging the
      services of the undersigned, the undersigned hereby agrees that, insofar as
      this
      option agreement, or the Underlying Shares create any rights in or for the
      benefit of the undersigned (or any assignee thereof), it does not have any
      right, title, interest or claim of any kind in or to any  monies in the
      Trust Fund and any assets of the Company upon liquidation of the Trust Fund
      and
      dissolution of the Company (the "Claim") or against any
      director, officer or agent of the Company or any of their respective affiliates,
      and hereby waives any Claim it 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 or any director, officer or agent of the Company or
      any
      of their respective affiliates, for any reason whatsoever.

     

    18. Replacement
      of Prior Agreements.
      This
      Agreement sets forth the entire understanding of the parties with respect to
      the
      subject matter provided for herein, including, the grant of stock options and
      the terms thereof, and supersedes any and all existing agreements between the
      parties concerning such subject matter. The Optionee hereby waives any and
      all
      claims that may exist on the date this Agreement is signed, including, but
      not
      limited to, contingent claims, arising from any oral or written agreement
      between the parties, including, but not limited to, stock option provisions
      which may appear in an consultancy agreement, which relate to the grant of
      or
      the terms of stock options and all other subject matter provided for
      herein.

    

    19. Headings.
      The
      headings of sections and subsections herein are included solely for convenience
      of reference and shall not affect the meaning of any of the provisions of the
      Agreement.

    

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    20. Severability.
      In the
      event that any one or more provisions of this Agreement, or any action taken
      pursuant to this Agreement, should, for any reason, be unenforceable or invalid
      in any respect under the laws of the United States, any state of the United
      States or any other jurisdiction, such unenforceability or invalidity shall
      not
      affect any other provision of this Agreement, but in such particular
      jurisdiction and instance the Agreement shall be construed as if such
      unenforceable or invalid provision had not been contained therein or if the
      action in question had not been taken thereunder.

    

    21. Board
      Determinations.
      In the
      event that any question or controversy shall arise with respect to the nature,
      scope or extent of any one or more rights conferred by the Option, or any
      provision of this Agreement, the determination by the Board of Directors of
      the
      Company of the rights of the Optionee shall be conclusive, final and binding
      upon the Optionee and upon any other person who shall assert any right pursuant
      to this Option.

    

    22. Governing
      Law.
      This
      Agreement and all rights hereunder shall be construed in accordance with and
      governed by the internal laws of the State of New York, except to the extent
      that the General Corporation Law of the State of Delaware is mandatorily
      applicable.

    

    23. Jurisdiction;
      Venue.
      Each of
      the Company and the Optionee irrevocably (i) agrees that any suit, action
      or proceeding arising out of or relating to this Agreement may be brought in
      the
      State or Federal courts located in New York County, New York; (ii) consents
      to the exclusive jurisdiction of each such court in any suit, action or
      proceeding relating to or arising out of this Agreement; (iii) waives any
      objection which it may have to the laying of venue in any such suit, action
      or
      proceeding in any of such court; and (iv) agrees that service of any court
      paper may be made in such manner as may be provided under applicable laws or
      court rules governing service of process, including, without limitation, by
      the
      mailing of copies thereof by registered or certified mail, postage pre-paid,
      to
      the other party at its address set forth in Section 9 hereof, such service
      to
      become effective five (5) business days after such mailing.

    

    24. Amendment.
      This
      Agreement may not be changed or modified except by an instrument in writing
      signed by both of the parties hereto.

    

    25. Facsimile,
      Counterparts.
      This
      Agreement may be executed by facsimile or telecopy in one or more counterparts,
      each of which shall be deemed to be an original but all of which together will
      constitute one and the same instrument.

    

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the Company and the Optionee have executed this Agreement
      effective as of the Grant Date specified above.

     

    
      	 	 	 
	 	Energy
              Infrastructure Acquisition Corp.
	 
 	 
 	 
 
	 	By:  	/s/
              Marios Pantazopoulos 
	 	
              
Name:
              Marios Pantazopoulos
	 	Title:
              Chief Financial Officer

    

     

    
      	
            	 	 
	 	 	George Sagredos, Optionee 
	 
 	 
 	 
 
	 	 	/s/
              George Sagredos
	 	
              
George
              Sagredos
	 	 

      	Optionee’s Name: 	 	 	 
	George Sagredos 	 	 	 
	 	 	 	 
	Optionee’s Address: 	 	 	 
	c/o Energy Infrastructure Acquisition
              Corp. 	 	 	 
	641
              Fifth
              Avenue 	 	 	 
	New York, New York 10022 	 	 	 
	 	 	 	 
	Social Security or Taxpayer I.D. No.
              (if
              applicable): 	 	 	 
	 	 	 	 
	 	 	 	 
	
              

            	 	 	
            
	 	 	 	 

    

     

     

    
      
        
        

      

      
        12

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