Document:

EXHIBIT
      10.6 

     

    June
      ___,
      2006

     

    Energy
      Infrastructure Acquisition Corp. 

    641
      Fifth
      Avenue

    New
      York,
      New York 10022, Suite 320

    Santa
      Monica, CA 90405

     

     

    Maxim
      Group LLC

    405
      Lexington Avenue

    New
      York,
      New York 10174 

     

     

    Re:    Initial
      Public Offering

     

    Gentlemen:

     

    The
      undersigned officer and director of Energy Infrastructure Acquisition Corp.
      (the
“Company”), in consideration of Maxim Group LLC (“Maxim”) entering into a letter
      of intent (“Letter of Intent”) to underwrite an initial public offering of the
      securities of the Company (“IPO”) and embarking on the IPO process, hereby
      agrees as follows (certain capitalized terms used herein are defined in
      paragraph 13 hereof):

     

    I. (1)
      In
      the event that the Company fails to consummate a Business Combination within
      18
      months from the effective date (“Effective Date”) of the registration statement
      relating to the IPO (or 24 months under the circumstances described in the
      prospectus relating to the IPO (such later date being referred to herein as
      the
“Termination Date”)), the undersigned shall (A) take all such action reasonably
      within its power as is necessary to dissolve the Company and liquidate the
      Trust
      Account to holders of IPO Shares (i) as soon as reasonably practicable, (ii)
      after approval of the Company’s stockholders, (iii) subject to the requirements
      of the Delaware General Corporation Law (the “GCL”), including voting for the
      adoption of a resolution by the board of directors, prior to such Termination
      Date, pursuant to Section 275(a) of the GCL, finding the dissolution of the
      Company advisable and (iv) causing the preparation of such notices as are
      required by said Section 275(a) of the GCL as promptly thereafter as possible;
      (B) cause the board of directors to convene and adopt a plan of dissolution
      and
      distribution, vote his shares in favor of any plan of dissolution and
      distribution recommended by the board of directors, and seek stockholder
      approval for the plan of dissolution and distribution; and (C) on the date
      of
      any such adoption, cause the Company to prepare and file a proxy statement
      with
      the Securities and Exchange Commission setting out the plan of dissolution
      and
      distribution.  

    

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

    

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

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

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

    

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

     

    II. In
      order
      to minimize potential conflicts of inter-est which may arise from multiple
      affiliations, the undersigned agrees to present to the Company for its
      consideration, prior to presentation to any other person or entity, any suitable
      opportunity to acquire an operating business, until the earlier of (i) the
      consummation by the Company of a Business Combination, (ii) the dissolution
      of
      the Company or (iii) such time as the undersigned ceases to be an officer or
      director of the Company, subject to any pre-existing fiduciary and contractual
      obligations the undersigned might have.

     

    III. The
      undersigned acknowledges and agrees that the Company will not consummate any
      Business Combination which involves a company which is affiliated with any
      of
      the Insiders unless
      the Company obtains an opinion from an independent investment banking firm
      which
      is a member of the National Association of Securities Dealers, Inc. and is
      reasonably acceptable to Maxim that the Business Combination is fair to the
      Company’s stockholders from a financial perspective.

     

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

    

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

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    V. Neither
      the undersigned, any member of the family of the undersigned, nor any Affiliate
      will be entitled to receive or accept a finder’s fee or any other compensation
      in the event the undersigned, any member of the family of the undersigned or
      any
      Affiliate originates a Business Combination.

    

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

    

    (2)
      The
      undersigned’s biographical information furnished to the Company and Maxim and
      attached hereto as Exhibit A is true and accurate in all respects, does not
      omit
      any material information with respect to the undersigned’s background and
      contains all of the information required to be disclosed pursuant to Item 401
      of
      Regulation S-K, promulgated under the Securities Act of 1933.  The
      undersigned’s Questionnaire previously furnished to the Company and Maxim is
      true and accurate in all respects as of the date first written above. 

    

    (3)
      The
      undersigned represents and warrants that:

     

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

    

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

    

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

     

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

     

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

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

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

    

    X. The
      undersigned will escrow his Insider Shares, if any, for the period commencing
      on
      the Effective Date and ending on the third anniversary of the Effective Date,
      subject to the terms of a Stock Escrow Agreement which the Company will enter
      into with the undersigned and an escrow agent acceptable to the
      Company.

    

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

    

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

     

    [Signature
      Page to Follow]

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    

     

    
      	
               

            	
               

            	
               

            	
               

            	
               

            	
              Marios
                Pantazopoulos

            	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	
              Print
                Name of Insider

            	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	/s/
Marios
              Pantazopoulos          
              	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	
              Signature

            	
               

            

    

     

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    EXHIBIT A

     

    Marios
      Pantazopoulos
      has been
      our chief financial officer since inception and a director since December 2005.
      Between 1998 and 2005, he was the chief financial officer of Oceanbulk Maritime
      SA, an Athens-based ship management company that is part of the Oceanbulk Group
      of affiliated companies. At Oceanbulk, Mr. Pantazopoulos was responsible
      for Oceanbulk’s banking relationships including financing and private wealth
      management. He facilitated bilateral and syndicated loans with the world’s 10
      largest shipping banks and also arranged access to private equity in the US
      capital markets. During his tenure at Oceanbulk, his responsibilities also
      included assessing non-shipping projects, coordinating auditing procedures,
      reporting to shareholders and supervising Oceanbulk’s financial operations.
      Before joining Oceanbulk, Mr. Pantazopoulos served from 1991 to 1998, as an
      assistant director for the project and shipping finance department of Hambros
      Bank Plc, a UK merchant bank, which was acquired in 1998 by Societe Generale.
      At
      Hambros, Mr. Pantazopoulos was primarily responsible for managing the
      bank’s shipping loan portfolio in Greece as well as providing other investment
      banking services such as mergers and acquisitions, private finance initiative
      projects, structured leases, treasury products and private wealth management.
      Mr. Pantazopoulos was part of the Hambros Bank’s team for the privatization
      of Hellenic Shipyards SA and was a board member at Alpha Trust SA, a private
      fund management company in Greece. Mr. Pantazopoulos received his BSc in
      Economics from University of Economics & Political Science in Athens in
      1998, and his MSc in Shipping Trade & Finance from City University Business
      School in London, UK, in 1991. 

     

     

    
      
        
        

      

      
        6EXHIBIT
      10.7 

     

    June
      ___,
      2006

     

    Energy
      Infrastructure Acquisition Corp. 

    641
      Fifth
      Avenue

    New
      York,
      New York 10022, Suite 320

    Santa
      Monica, CA 90405

     

     

    Maxim
      Group LLC

    405
      Lexington Avenue

    New
      York,
      New York 10174 

     

     

    Re:    Initial
      Public Offering

     

    Gentlemen:

     

    The
      undersigned, a director of Energy Infrastructure Acquisition Corp. (the
“Company”), in consideration of Maxim Group LLC (“Maxim”) entering into a letter
      of intent (“Letter of Intent”) to underwrite an initial public offering of the
      securities of the Company (“IPO”) and embarking on the IPO process, hereby
      agrees as follows (certain capitalized terms used herein are defined in
      paragraph 13 hereof):

     

    I. (1)
      In
      the event that the Company fails to consummate a Business Combination within
      18
      months from the effective date (“Effective Date”) of the registration statement
      relating to the IPO (or 24 months under the circumstances described in the
      prospectus relating to the IPO (such later date being referred to herein as
      the
“Termination Date”)), the undersigned shall (A) take all such action reasonably
      within its power as is necessary to dissolve the Company and liquidate the
      Trust
      Account to holders of IPO Shares (i) as soon as reasonably practicable, (ii)
      after approval of the Company’s stockholders, (iii) subject to the requirements
      of the Delaware General Corporation Law (the “GCL”), including voting for the
      adoption of a resolution by the board of directors, prior to such Termination
      Date, pursuant to Section 275(a) of the GCL, finding the dissolution of the
      Company advisable and (iv) causing the preparation of such notices as are
      required by said Section 275(a) of the GCL as promptly thereafter as possible;
      (B) cause the board of directors to convene and adopt a plan of dissolution
      and
      distribution, vote his shares in favor of any plan of dissolution and
      distribution recommended by the board of directors, and seek stockholder
      approval for the plan of dissolution and distribution; and (C) on the date
      of
      any such adoption, cause the Company to prepare and file a proxy statement
      with
      the Securities and Exchange Commission setting out the plan of dissolution
      and
      distribution.  

    

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

    

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

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

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

    

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

     

    II. In
      order
      to minimize potential conflicts of inter-est which may arise from multiple
      affiliations, the undersigned agrees to present to the Company for its
      consideration, prior to presentation to any other person or entity, any suitable
      opportunity to acquire an operating business, until the earlier of (i) the
      consummation by the Company of a Business Combination, (ii) the dissolution
      of
      the Company or (iii) such time as the undersigned ceases to be an officer or
      director of the Company, subject to any pre-existing fiduciary and contractual
      obligations the undersigned might have.

     

    III. The
      undersigned acknowledges and agrees that the Company will not consummate any
      Business Combination which involves a company which is affiliated with any
      of
      the Insiders unless
      the Company obtains an opinion from an independent investment banking firm
      which
      is a member of the National Association of Securities Dealers, Inc. and is
      reasonably acceptable to Maxim that the Business Combination is fair to the
      Company’s stockholders from a financial perspective.

     

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

    

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

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    V. Neither
      the undersigned, any member of the family of the undersigned, nor any Affiliate
      will be entitled to receive or accept a finder’s fee or any other compensation
      in the event the undersigned, any member of the family of the undersigned or
      any
      Affiliate originates a Business Combination.

    

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

    

    (2)
      The
      undersigned’s biographical information furnished to the Company and Maxim and
      attached hereto as Exhibit A is true and accurate in all respects, does not
      omit
      any material information with respect to the undersigned’s background and
      contains all of the information required to be disclosed pursuant to Item 401
      of
      Regulation S-K, promulgated under the Securities Act of 1933.  The
      undersigned’s Questionnaire previously furnished to the Company and Maxim is
      true and accurate in all respects as of the date first written above. 

    

    (3)
      The
      undersigned represents and warrants that:

     

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

    

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

    

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

     

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

     

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

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

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

    

    X. The
      undersigned will escrow his Insider Shares, if any, for the period commencing
      on
      the Effective Date and ending on the third anniversary of the Effective Date,
      subject to the terms of a Stock Escrow Agreement which the Company will enter
      into with the undersigned and an escrow agent acceptable to the
      Company.

    

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

    

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

     

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              Maximos
                Kremos

            	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	
              Print
                Name of Insider

            	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	/s/
Maximos
              Kremos       	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            	
              Signature

            	
               

            

    

     

     

    
      
        
        

      

      
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    EXHIBIT A

     

    Maximos
      Kremos
      has been
      a director of our company since December 2005. Mr. Kremos has over 32 years
      of experience in the shipping industry. He is currently a consultant for Genoa
      Maritime, converting a single hull tanker to a double hull chemical carrier.
      From 2002 to 2004, Mr. Kremos worked as the general manager at Hermitage
      Shipping and Trading Company. From 1995 to 2002, Mr. Kremos was the general
      manager and director of Unideal/Navitankers, a tanker ship management company
      managing a 12-vessel tanker fleet ranging from 30,000 to 150,000 dwt. From
      1990
      to 1995, Mr. Kremos was the general manager for Silver Carriers Shipping
      Co., where he was responsible for a fleet of general-purpose drybulk carriers
      as
      well as containerships and tankers. From 1987 to 1990, Mr. Kremos was
      managing director of Theomax Fishing Co. From 1981 to 1987, Mr. Kremos was
      the Technical director for Enterprises Shipping and Trading, as well as in
      charge of their Operations and Chartering Department of their reefer fleet
      from
      1985 to 1987. From 1978 to 1981, Mr. Kremos was in charge of the Technical
      and Claims Department of Specova Shipping. From 1977 to 1978, he served as
      a
      technical director for Thomarin Shipping Co. Prior to that, from 1974 to 1977,
      he was the superintendent engineer for Thenamaris Shipping Co., a ship
      management company with a fleet of approximately 5 million dwt. At Thenamaris,
      Mr. Kremos was in charge of approximately ten vessels and involved in 15
      vessel acquisitions. From 1973 to 1974, Mr. Kremos worked for the Chronos
      Shipping Co., where he was in charge of the repair team for diesel and steam
      turbine tankers. Mr. Kremos began his career in 1966 with Nereus Shipping,
      S.A. Mr. Kremos graduated from the National Merchant Marine Academy of
      Aspropyrgos with honors in 1966.

     

     

    
      
        
        

      

      
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