Document:

_____________,
      2006

     

    

     

    Energy
      Infrastructure Acquisition Corp.

    c/o
      Schwartz & Weiss, P.C.

    457
      Madison Avenue

    New
      York,
      New York 10022

    Attn:
      George Sagredos

     

    Maxim
      Group LLC

    405
      Lexington Avenue 

    New
      York,
      New York 10174

    Attn: Clifford
      A. Teller

     

    
      	
              Re:

            	
              Initial
                Public Offering

            

    

     

    Gentlemen:

     

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

     

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

     

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

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Energy
      Infrastructure Acquisition Corp.

    Maxim
      Group LLC

    __________,
      2006

    Page
      2

     

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      Energy
        Infrastructure Acquisition Corp.

      Maxim
        Group LLC

      __________,
        2006

      Page
        3

       

    

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      Energy
        Infrastructure Acquisition Corp.

      Maxim
        Group LLC

      __________,
        2006

      Page
        4

       

    

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

     

     

       

        	 	 	 
	 	 
	 
 	 
 	 
 
	 	By:  	 
	 	
                
Maximos
                Kremos

      

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A

     

    [Insider’s
      biographical information]

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      B

     

    QuestionnaireINVESTMENT
      MANAGEMENT TRUST AGREEMENT

     

    This
      Agreement is made as of _________, 2006 by and between Energy Infrastructure
      Acquisition Corp. (the “Company”) and Continental Stock Transfer & Trust
      Company (“Trustee”).

     

    WHEREAS,
      the Company’s Registration Statement on Form S-1, No. __________ (“Registration
      Statement”), for its initial public offering of securities (“IPO”) has been
      declared effective as of the date hereof by the Securities and Exchange
      Commission (“Effective Date”); and 

     

    WHEREAS,
      the Company has issued securities in a private placement (the “Placement”);
      and

     

    WHEREAS,
      Maxim Group LLC (“Maxim”) is acting as the representative of underwriters (the
“Underwriters”) in the IPO and acted as placement agent for the Placement;
      and

     

    WHEREAS,
      as described in the Company’s Registration Statement, (i) in accordance with the
      Company’s Certificate of Incorporation, $150,000,000 of the net proceeds of the
      IPO ($172,500,000 if the Underwriters’ over-allotment option is exercised in
      full), (ii) in accordance with the Placement Share Agreement, dated as of
      _______, 2006, among the Company, Maxim and certain purchasers $8,171,437 of
      the
      net proceeds of the Placement (together with the IPO proceeds, the “Base
      Deposit”) and $82,539 of Maxim’s placement fees (the “Contingent Fee”), and
      (iii) in accordance with the Underwriting Agreement, dated as of ________,
      2006,
      between the Company and Maxim, as representative of the Underwriters, an
      additional $1,500,000 ($2,175,000 if the Underwriters’ over-allotment option is
      exercised in full), representing a portion of the Underwriters’ discount (the
“Contingent Discount”), will be delivered to the Trustee to be deposited and
      held in a trust account for the benefit of the Company, the public holders
      of
      the Common Stock, par value $.0001 per share, of the Company (“Common Stock”)
      included in the units of the Company’s securities issued in the IPO (the
“Units”) and the Underwriters and, in the event the Units are registered in
      Colorado, pursuant to Section 11-51-302(6) of the Colorado Revised Statutes,
      a
      copy of which statute is attached hereto and made a part hereof. The amount
      to
      be delivered to the Trustee will be referred to herein as the “Property,” the
      stockholders for whose benefit the Trustee shall hold the Property will be
      referred to as the “Public Stockholders,” and the Public Stockholders, the
      Company and Maxim will be referred to together as the “Beneficiaries”).

     

    WHEREAS,
      the Company and the Trustee desire to enter into this Agreement to set forth
      the
      terms and conditions pursuant to which the Trustee shall hold the
      Property;

     

    NOW,
      THEREFORE, in consideration of the foregoing and the mutual covenants and
      agreements herein contained, the parties hereto agree as follows:

     

    1.  Agreements
      and Covenants of Trustee.
      The
      Trustee hereby agrees and covenants to:

     

    (a)  Hold
      the
      Property in trust for the Beneficiaries in accordance with the terms of this
      Agreement, including the terms of Section 11-51-302(6) of the Colorado Statute
      with respect to Public Stockholders resident in Colorado, in a segregated trust
      account (“Trust Account”) established by the Trustee with Lehman Brothers Inc.;

     

    (b)  Manage,
      supervise and administer the Trust Account subject to the terms and conditions
      set forth herein;

     

    (c)  In
      a
      timely manner, upon the instruction of the Company, to invest and reinvest
      the
      Property in “government securities” within the meaning of Section 2(a)(16) of
      the Investment Company Act of 1940 having a maturity of 180 days or less or
      in
      any open ended investment company registered under the Investment Company Act
      of
      1940 that holds itself out as a money market fund meeting the conditions of
      paragraphs (c)(2), (c)(3) and (c)(4) under Rule 2a-7 promulgated under the
      Investment Company Act of 1940;

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (d)  Collect
      and receive, when due, all principal and income arising from the Property,
      which
      shall become part of the “Property,” as such term is used herein;

     

    (e)  Notify
      the Company and Maxim of all communications received by it with respect to
      any
      Property requiring action by the Company;

     

    (f)  Supply
      any necessary information or documents as may be requested by the Company in
      connection with the Company’s preparation of the tax returns for the Trust
      Account;

     

    (g)  Participate
      in any plan or proceeding for protecting or enforcing any right or interest
      arising from the Property if, as and when instructed by the Company and/or
      Maxim
      to do so;

     

    (h)  Render
      to
      the Company and to Maxim, and to such other person as the Company may instruct,
      monthly written statements of the activities of and amounts in the Trust Account
      reflecting all receipts and disbursements of the Trust Account; 

     

      (i)  Commence
        liquidation of the Trust Account upon receipt of the Officers’ Certificate
        signed by the Chief Executive Officer and Chief Financial Officer in accordance
        with the terms of a letter (“Termination Letter”), in a form substantially
        similar to that attached hereto as Exhibit
        A
        or
Exhibit
        B,
        signed
        on behalf of the Company by its Chief Executive Officer or Chief Financial
        Officer, and complete the liquidation of the Trust Account and distribute
        the
        Property in the Trust Account only as directed in the Termination Letter
        and the
        other documents referred to therein. The Trustee understands and agrees that,
        except as provided in Section 1(j) and Section 2 hereof, disbursements from
        the
        Trust Account shall be made only pursuant to a duly executed Termination
        Letter,
        together with the other documents referenced herein, including, without
        limitation, an independently certified oath and report of inspector of election
        in respect of the stockholder vote in favor of the Business Combination (as
        hereinafter defined). In all cases, the Trustee shall provide Maxim with
        a copy
        of any Termination Letters, Officers’ Certificates and/or any other
        correspondence that it receives with respect to any proposed withdrawal from
        the
        Trust Account promptly after it receives same. As used in this Agreement,
        the
        term “Business Combination” means the acquisition by the Company, through
        merger, capital stock exchange, asset or stock acquisition of, or similar
        business combination with, one or more entities with agreements
        to acquire vessels or an operating business in the refining,
        terminalling or transportation of energy industry as more fully described
        in the
        prospectus forming a part of the Registration Statement; and

     

    (j)  As
      of the
      date 18 months from the date of this Agreement (the “LOI Termination Date”) (or
      24 months from the date hereof in the event the Company has executed a Letter
      of
      Intent (defined below) prior to the LOI Termination Date but failed to
      consummate a Business Combination (“Second Termination Date”)), commence
      liquidation of the Trust Account. The Trustee, upon consultation with the
      Company and Maxim, shall deliver a notice to Public Stockholders of record
      as of
      the LOI Termination Date or Second Termination Date, whichever the case may
      be,
      by U.S. mail or via the Depository Trust Company (“DTC”), within five days of
      the LOI Termination Date or Second Termination Date, to notify the Public
      Stockholders of such event and take such other actions as it may deem necessary
      to inform the Beneficiaries. The Trustee shall deliver to each Public
      Stockholder its ratable share of the Property against satisfactory evidence
      of
      delivery of the stock certificates by the Public Stockholders to the Company
      through DTC, its Deposit Withdraw Agent Commission (DWAC) system or as otherwise
      presented to the Trustee. Notwithstanding the foregoing, if the Trustee receives
      a bona fide, executed letter of intent, agreement in principle or engagement
      letter (a “Letter of Intent”) for a Business Combination prior to the LOI
      Termination Date accompanied by an Officers’ Certificate as described in Section
      3(e) hereof, then the Trustee shall forego or suspend any liquidation of the
      Trust Account until the earlier of a Business Combination or the Second
      Termination Date.

     

    
      
        
        

      

      
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    2.  Limited
      Distributions of Income on Property.
      

     

    (a)  Upon
      receipt by the Trustee of an Officer’s Certificate signed by the Chief Executive
      Officer and Chief Financial Officer of the Company certifying as true, accurate
      and complete a copy of any tax return required to be filed on behalf of the
      Trust Account in respect of income earned on the Property held therein, the
      Trustee shall deliver to the Company for submission to the appropriate taxing
      authority a check made payable to the order of such taxing authority in the
      amount required to pay such taxes;
      provided,
      however,
      that in
      no event shall the aggregate amount of all checks issued to taxing authorities
      pursuant to this Section 2(a) exceed the income in respect of which such taxes
      are due and owing.

     

      (b)  Upon
        written request from the Company, the Trustee shall distribute to the Company
        an
        amount equal to up
        to
        12,200,000 (2,500,000 if the Underwriters’ over-allotment option is exercised in
        full) of the income earned on the Base Deposit, net of taxes payable,
        over the Income Threshold (as hereinafter defined) through the last day of
        the
        month immediately preceding the date of receipt of the Company’s request. For
        purposes of this Agreement, the “Income Threshold” shall mean the product of (i)
        the number of Units sold to the Underwriters upon exercise of the Underwriters’
over-allotment option, and (ii) $0.20. (If the Underwriters’ over-allotment
        option is not exercised, the Income Threshold shall be zero.)

     

    (c)  Except
      as
      provided in Sections 2(a) and 2(b) above, no other distributions from the Trust
      Account shall be permitted except in accordance with Sections 1(i) and 1(j)
      hereof.

     

    3.  Agreements
      and Covenants of the Company.
      The
      Company hereby agrees and covenants:

     

      (a)  To
        provide all instructions to the Trustee hereunder in writing, signed by the
        Company’s Chief Executive Officer and Chief Financial Officer. In addition,
        except with respect to its duties under paragraph 1(i) and 1(j) above, the
        Trustee shall be entitled to rely on, and shall be protected in relying on,
        any
        verbal or telephonic advice or instruction which it in good faith believes
        to be
        given by any one of the persons authorized above to give written instructions,
        provided that the Company and/or Maxim shall promptly confirm such instructions
        in writing; 

     

    (b)  To
      hold
      the Trustee harmless and indemnify the Trustee from and against any and all
      expenses, including reasonable counsel fees and disbursements, or loss suffered
      by the Trustee in connection with any action, suit or other proceeding brought
      against the Trustee involving any claim, or in connection with any claim or
      demand which in any way arises out of or relates to this Agreement, the services
      of the Trustee hereunder, or the Property or any income earned from investment
      of the Property, except for expenses and losses resulting from the Trustee’s
      gross negligence or willful misconduct. Promptly after the receipt by the
      Trustee of notice of demand or claim or the commencement of any action, suit
      or
      proceeding, pursuant to which the Trustee intends to seek indemnification under
      this paragraph, it shall notify the Company in writing of such claim
      (hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the
      right to conduct and manage the defense against such Indemnified Claim,
      provided, that the Trustee shall obtain the consent of the Company with respect
      to the selection of counsel, which consent shall not be unreasonably withheld.
      The Company may participate in such action with its own counsel; 

     

      (c)  To
        pay
        the Trustee an initial acceptance fee of $1,000 and an annual fee of $3,000
        (it
        being expressly understood that the Property shall not be used to pay such
        fee).
        The Company shall pay the Trustee the initial acceptance fee and first year’s
        fee at the consummation of the IPO and thereafter on the anniversary of the
        Effective Date. The Trustee shall refund to the Company the fee (on a pro
        rata
        basis) with respect to any period after the liquidation of the Trust Account.
        The Company shall not be responsible for any other fees or charges of the
        Trustee except as may be provided in paragraph 3(b) hereof (it being expressly
        understood that the Property shall not be used to make any payments to the
        Trustee under such paragraph).

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    (d)  That,
      in
      the event that the Company consummates a Business Combination and the Trust
      Account is liquidated in accordance with Section 1(i) hereof, the Trustee or
      another independent party designated by Maxim shall act as the inspector of
      election to certify the results of the stockholder vote; and 

     

      (e)  That
        the
        Officer Certificate referenced in Sections 1(i) and 1(j) hereof shall require
        the Company’s Chief Executive Officer and Chief Financial Officer to each
        certify the following (wherever applicable): (1) prior to the LOI Termination
        Date, the Company has entered into a bona fide Letter of Intent with a target
        business; and/or (2) prior to the LOI Termination Date, the Company has entered
        into a Business Combination with a target business, the terms of which are
        consistent with the requirements set forth in the Registration Statement;
        and/or
        (3) prior to the Second Termination Date, the Company has entered into a
        Business Combination with a target business, the terms of which are consistent
        with the requirements set forth in the Registration Statement; and (4) the
        Board
        of Directors (the “Board”) pursuant to the unanimous written consent of the
        Board has approved (where applicable): (i) the Letter of Intent; and/or (ii)
        the
        Business Combination. A copy of such consent and the Letter of Intent and/or
        the
        definitive agreement relating to the Business Combination so approved shall
        be
        attached as an exhibit to the Officers’ Certificate.

       

      (f)
        Within
        five business days after the Underwriters’ over-allotment option (or any
        unexercised portion thereof) expires or is exercised in full, provide the
        Trustee notice in writing (with a copy to the Underwriters) of the total
        amount
        of the Contingent Fee and Contingent Discount, which shall in no event be
        less
        than $1,582,539.

       

     

    4.  Limitations
      of Liability.
      The
      Trustee shall have no responsibility or liability to:

     

    (a)  Take
      any
      action with respect to the Property, other than as directed in Sections 1 and
      2
      hereof and the Trustee shall have no liability to any party except for liability
      arising out of its own gross negligence or willful misconduct;

     

    (b)  Institute
      any proceeding for the collection of any principal and income arising from,
      or
      institute, appear in or defend any proceeding of any kind with respect to,
      any
      of the Property unless and until it shall have received written instructions
      from the Company and/or Maxim given as provided herein to do so and the Company
      shall have advanced or guaranteed to it funds sufficient to pay any expenses
      incident thereto;

     

    (c)  Change
      the investment of any Property, other than in compliance with Section
      1(c);

     

    (d)  Refund
      any depreciation in principal of any Property;

     

    (e)  Assume
      that the authority of any person designated by the Company and/or Maxim to
      give
      instructions hereunder shall not be continuing unless provided otherwise in
      such
      designation, or unless the Company and/or Maxim shall have delivered a written
      revocation of such authority to the Trustee;

     

    (f)  The
      other
      parties hereto or to anyone else for any action taken or omitted by it, or
      any
      action suffered by it to be taken or omitted, in good faith and in the exercise
      of its own best judgment, except for its gross negligence or willful misconduct.
      The Trustee may rely conclusively and shall be protected in acting upon any
      order, notice, demand, certificate, opinion or advice of counsel (including
      counsel chosen by the Trustee), statement, instrument, report or other paper
      or
      document (not only as to its due execution and the validity and effectiveness
      of
      its provisions, but also as to the truth and acceptability of any information
      therein contained) which is believed by the Trustee, in good faith, to be
      genuine and to be signed or presented by the proper person or persons. The
      Trustee need not investigate any fact or matter stated in the document. The
      Trustee shall not be bound by any notice or demand, or any waiver, modification,
      termination or rescission of this agreement or any of the terms hereof, unless
      evidenced by a written instrument delivered to the Trustee signed by the proper
      party or parties and, if the duties or rights of the Trustee are affected,
      unless it shall give its prior written consent thereto; 

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    (g)  Verify
      the correctness of the information set forth in the Registration Statement
      or to
      confirm or assure that any acquisition made by the Company or any other action
      taken by it is as contemplated by the Registration Statement, unless an officer
      of the Trustee has actual knowledge thereof, written notice of such event is
      sent to the Trustee or as otherwise required under Section 1(i) hereof;
      and

     

      (h)  Pay
        any
        taxes on behalf of the Trust Account (it being expressly understood that
        the
        Trustee’s sole obligation with respect to taxes shall be to issue the checks
        with respect thereto provided for by Section 2(a) hereof).

     

    5.  Certain
      Rights Of Trustee.
      

     

    (a)  Before
      the Trustee acts or refrains from acting, it may require an Officers’
Certificate or opinion of counsel or both. The Trustee shall not be liable
      for
      any action it takes or omits to take in good faith in reliance on such Officers’
Certificate or opinion of counsel. The Trustee may consult with counsel and
      the
      advice of such counsel or any opinion of counsel shall be full and complete
      authorization and protection from liability in respect of any action taken,
      suffered or omitted by it hereunder in good faith and in reliance thereon.
      

     

    (b)  The
      Trustee may act through its attorneys and agents and shall not be responsible
      for the misconduct or negligence of any agent appointed with due care.

     

    (c)  The
      Trustee shall not be liable for any action it takes or omits to take in good
      faith that it believes to be authorized or within the rights or powers conferred
      upon it by this Agreement. 

     

    (d)  The
      Trustee shall not be responsible for and makes no representation as to the
      validity or adequacy of this Agreement; it shall not be accountable for the
      Company’s use of the proceeds from the Trust Account. Notwithstanding the
      effective date of this Agreement or anything to the contrary contained in this
      Agreement, the Trustee shall have no liability or responsibility for any act
      or
      event relating to this Agreement or the transactions related thereto which
      occurs prior to the date of this Agreement, and shall have no contractual
      obligations to the Beneficiaries until the date of this Agreement.

     

    6.  Termination.
      This
      Agreement shall terminate as follows:

     

    (a)  If
      the
      Trustee gives written notice to the Company that it desires to resign under
      this
      Agreement, the Company shall use its reasonable efforts to locate a successor
      trustee during which time the Trustee shall continue to act in accordance with
      the terms of this Agreement. At such time that the Company notifies the Trustee
      that a successor trustee has been appointed by the Company and has agreed to
      become subject to the terms of this Agreement, the Trustee shall transfer the
      management of the Trust Account to the successor trustee, including, but not
      limited, to the transfer of copies of the reports and statements relating to
      the
      Trust Account, whereupon this Agreement shall terminate; provided, however,
      that, in the event that the Company does not locate a successor trustee within
      ninety days of receipt of the resignation notice from the Trustee, the Trustee
      may, but shall not be obligated to, submit an application to have the Property
      deposited with the United States District Court for the Southern District of
      New
      York and upon such deposit, the Trustee shall be immune from any liability
      whatsoever that arises due to any actions or omissions to act by any party
      after
      such deposit; 

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    (b)  At
      such
      time that the Trustee has completed the liquidation of the Trust Account in
      accordance with the provisions of Section 1(i) hereof, and distributed the
      Property in accordance with the provisions of the Termination Letter, this
      Agreement shall terminate except with respect to Section 3(b); or

     

    (c)  At
      such
      time that the Trustee has completed the liquidation of the Trust Account in
      accordance with the provisions of Section 1(j) hereof and distributed the
      Property in accordance with said Section 1(j), this Agreement shall terminate
      except with respect to Section 3(b).

     

    7.  Miscellaneous.

     

    (a)  The
      Company and the Trustee each acknowledge that the Trustee will follow the
      security procedures set forth below with respect to funds transferred from
      the
      Trust Account. Upon receipt of written instructions, the Trustee will confirm
      such instructions with an Authorized Individual at an Authorized Telephone
      Number listed on the attached Exhibit
      C.
      The
      Company and the Trustee will each restrict access to confidential information
      relating to such security procedures to authorized persons. Each party must
      notify the other party immediately if it has reason to believe unauthorized
      persons may have obtained access to such information, or of any change in its
      authorized personnel. In executing funds transfers, the Trustee will rely upon
      account numbers or other identifying numbers of a beneficiary, beneficiary’s
      bank or intermediary bank, rather than names. The Trustee shall not be liable
      for any loss, liability or expense resulting from any error in an account number
      or other identifying number, provided it has accurately transmitted the numbers
      provided.

     

    (b)  This
      Agreement shall be governed by and construed and enforced in accordance with
      the
      laws of the State of New York, without giving effect to conflict of laws. It
      may
      be executed in several counterparts, each one of which shall constitute an
      original, and together shall constitute but one instrument. Facsimile signatures
      shall constitute original signatures for all purposes of this
      Agreement.

     

    (c)  This
      Agreement contains the entire agreement and understanding of the parties hereto
      with respect to the subject matter hereof. This Agreement or any provision
      hereof may only be changed, amended or modified by a writing signed by each
      of
      the parties hereto; provided, however, that no such change, amendment or
      modification may be made without the prior written consent of Maxim, who, along
      with the other Underwriters, the parties specifically agree, are and shall
      be
      third party beneficiaries for purposes of this Agreement; and provided further,
      any amendment to Section 1(j) shall require the consent of all of the Public
      Stockholders. As to any claim, cross-claim or counterclaim in any way relating
      to this Agreement, each party waives the right to trial by jury.

     

    (d)  The
      parties hereto consent to the jurisdiction and venue of any state or federal
      court located in the State and County of New York for purposes of resolving
      any
      disputes hereunder. The parties hereto irrevocably submit to such jurisdiction,
      which jurisdiction shall be exclusive, and hereby waive any objection to such
      exclusive jurisdiction and that such courts represent an inconvenient
      forum.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    (e)  Any
      notice, consent or request to be given in connection with any of the terms
      or
      provisions of this Agreement shall be in writing and shall be sent by express
      mail or similar private courier service, by certified mail (return receipt
      requested), by hand delivery or by facsimile transmission:

     

    

    if
      to the
      Trustee, to:

    Continental
      Stock Transfer & Trust Company

    17
      Battery Place

    New
      York,
      New York 10004

    Attn:
      

    Fax
      No.:

     

    if
      to the
      Company, to:

     

    Energy
      Infrastructure Acquisition Corp.

    c/o
      Schwartz & Weiss, P.C.

    457
      Madison Avenue

    New
      York,
      New York 10022

    Attn:
      George Sagredos

    Fax
      No.:

     

    in
      either
      case with a copy to:

     

    Maxim
      Group LLC

    405
      Lexington Avenue

    New
      York,
      new York 10174

      Attn:
        Clifford A. Teller

    Fax
      No.:
      (212) 895-3783

     

    and

     

    Ellenoff,
      Grossman & Schote LLP

    370
      Lexington Avenue

    New
      York,
      New York 10017

    Attn:
      Douglas S. Ellenoff

    Fax
      No.:
      (212) 370-7889

     

    and

     

    Loeb
      & Loeb LLP

    345
      Park
      Avenue

    New
      York,
      New York 10154

    Attn:Mitchell
      S. Nussbaum

    Fax
      No.:
      (212) 407-4990

     

    (f)  This
      Agreement may not be assigned by the Trustee without the prior written consent
      of the Company and Maxim.

     

    (g)  Each
      of
      the Trustee and the Company hereby represents that it has the full right and
      power and has been duly authorized to enter into this Agreement and to perform
      its respective obligations as contemplated hereunder. The Trustee acknowledges
      and agrees that it shall not make any claims or proceed against the Trust
      Account, including by way of set-off, and shall not be entitled to any funds
      in
      the Trust Account under any circumstance.

    

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the parties have duly executed this Investment Management
      Trust
      Agreement as of the date first written above.

     

     

    CONTINENTAL
      STOCK TRANSFER & TRUST COMPANY, as Trustee

     

    By:
      ______________________________________

    Name: 

    Title:  

     

    ENERGY
      INFRASTRUCTURE ACQUISITION CORP.

     

    By:_______________________________________      

    Name:
      George Sagredos,

    Title:
      Chief Operating Officer and President 

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    

    EXHIBIT
      A

    [Letterhead
      of Company]

     

    [Insert
      date]

     

    Continental
      Stock Transfer 

    &
      Trust Company

    17
      Battery Place

    New
      York,
      New York 10004

     

    Attn:
      

     

    Re: Trust
      Account No. [ ] Termination Letter

     

    Gentlemen:

     

    Pursuant
      to Section 1(i) of the Investment Management Trust Agreement between Energy
      Infrastructure Acquisition Corp. (“Company”) and Continental Stock Transfer
& Trust Company (“Trustee”), dated as of __________, 2006 (“Trust
      Agreement”), this is to advise you that the Company has entered into an
      agreement (“Business Agreement”) with __________________ (“Target Business”) to
      consummate a business combination with Target Business (“Business Combination”)
      on or about [insert date]. The Company shall notify you at least two business
      days in advance of the actual date of the consummation of the Business
      Combination (“Consummation Date”) and shall provide you with an Officers’
Certificate in accordance with Sections 1(i) and 3(d) of the Trust Agreement.
      Capitalized words used herein and not otherwise define shall have the meaning
      ascribed to them in the Trust Agreement.

     

    In
      accordance with the terms of the Trust Agreement, we hereby authorize you to
      commence liquidation of the Trust Account to the effect that, on the
      Consummation Date, all of funds held in the Trust Account will be immediately
      available for transfer to the account or accounts that the Company and Maxim
      shall direct in writing on the Consummation Date.

     

    On
      the
      Consummation Date (i) counsel for the Company shall deliver to you written
      notification that (a) the Business Combination has been consummated, and (b)
      the
      provisions of Section 11-51-302(6) and Rule 51-3.4 of the CRS have been met,
      to
      the extent applicable; (ii) the Company shall deliver along with the oath and
      report of inspector of election certified by an independent inspector which
      may
      be the Trustee or as otherwise appointed by Maxim (collectively, the “Report”);
      and (iii) the Company and Maxim shall deliver to you joint written instructions
      with respect to the transfer of the funds, including the Contingent Discount
      and
      the Contingent Fee, held in the Trust Account (“Instructions”). You are hereby
      directed and authorized to transfer the funds held in the Trust Account
      immediately upon your receipt of the counsel’s letter, the Report, evidence of
      delivery of the Stock Certificates, the Officers’ Certificate and the
      Instructions in accordance with the terms of the Instructions. In the event
      that
      certain deposits held in the Trust Account may not be liquidated by the
      Consummation Date without penalty, you will notify the Company and Maxim of
      the
      same and the Company and Maxim shall issue joint written instructions directing
      you as to whether such funds should remain in the Trust Account and be
      distributed after the Consummation Date. Upon the distribution of all the funds
      in the Trust Account pursuant to the terms hereof, the Trust Agreement shall
      be
      terminated and the Trust Account closed.

     

    In
      the
      event that the Business Combination is not consummated on the Consummation
      Date
      described in the notice thereof and we have not notified you on or before the
      original Consummation Date of a new Consummation Date, then the funds held
      in
      the Trust Account shall be reinvested as provided in the Trust Agreement on
      the
      business day immediately following the Consummation Date as set forth in the
      notice.

    

    Very
      truly yours,

     

    ENERGY
      INFRASTRUCTURE ACQUISITION CORP.

     

    By:__________________________________

     
      George Sagredos

     
      Chief Operating Officer and President

    

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      B

     

    [Letterhead
      of Company]

     

    [Insert
      date]

     

    Continental
      Stock Transfer 

    &
      Trust Company

    17
      Battery Place

    New
      York,
      New York 10004

     

    Attn:
      

    Re: Trust
      Account No. [ ] Termination Letter

     

    Gentlemen:

     

    Energy
      Infrastructure Acquisition Corp. (“Company”) and Continental Stock Transfer
& Trust Company (“Trustee”), dated as of _____________, 2006 (“Trust
      Agreement”), this is to advise you that the Board of Directors of the Company
      has voted to dissolve the Company and liquidate the Trust Account (as defined
      in
      the Trust Agreement). Attached hereto is a copy of the minutes of the meeting
      of
      the Board of Directors of the Company relating thereto, certified by the
      Secretary of the Company as true and correct and in full force and
      effect.

     

    In
      accordance with the terms of the Trust Agreement, we hereby (a) certify to
      you
      that the provisions of Section 11-51-302(6) and Rule 51-3.4 of the Colorado
      Statute have been met and (b) authorize you, to commence liquidation of the
      Trust Account. You will notify the Company and Lehman Brothers Inc. in writing
      as to when all of the funds in the Trust Account will be available for immediate
      transfer (“Transfer Date”). Thereafter, you shall commence distribution of such
      funds in accordance with the terms of the Trust Agreement and the Company’s
      Certificate of Incorporation. Upon the payment of all the funds in the Trust
      Account, the Trust Agreement shall be terminated and the Trust Account
      closed.

     

    Very
      truly yours,

     

    ENERGY
      INFRASTRUCTURE ACQUISITION CORP.

     

     

    By:_____________________________________

         
      George Sagredos,

          Chief
      Operating Officer and President

    

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      C

    

    
      	
              AUTHORIZED
                INDIVIDUAL(S)

              FOR
                TELEPHONE CALL BACK

            	
               

            	
              AUTHORIZED

              TELEPHONE
                NUMBER(S)

            
	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            
	
              Company:

            	
               

            	
               

            
	
               

            	
               

            	
               

            
	
              Energy
                Infrastructure Acquisition Corp.

              c/o
                Schwartz & Weiss, P.C.

              457
                Madison Avenue

              New
                York, New York 10022

              Attn:
                George Sagredos, Chief Operating Officer and President

            	
               

            	
               

               

              ()
                

            
	
               

            	
               

            	
               

            
	
              Trustee:

            	
               

            	
               

            
	
               

            	
               

            	
               

            
	
              Continental
                Stock Transfer & Trust Company

              17
                Battery Place 

              New
                York, New York 10004

              Attn:
                

            	
               

            	 

    

     

     

    11

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