Document:

REGISTRATION
      RIGHTS AGREEMENT

     

    THIS
      REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is entered into as of the _____
      day of ________, 2006, by and among Energy Infrastructure Acquisition Corp.,
      a
      Delaware corporation (the “Company”), and the undersigned parties listed under
      Investors on the signature page hereto (each, an “Investor” and collectively,
      the “Investors”).

     

    WHEREAS,
      the Investors currently hold all of the issued and outstanding securities of
      the
      Company;

     

    WHEREAS,
      the Investors and the Company desire to enter into this Agreement to provide
      the
      Investors with certain rights relating to the registration of shares of Common
      Stock held by them;

     

    NOW,
      THEREFORE, in consideration of the mutual covenants and agreements set forth
      herein, and for other good and valuable consideration, the receipt and
      sufficiency of which are hereby acknowledged, the parties hereto agree as
      follows:

     

    1.  DEFINITIONS.
      The
      following capitalized terms used herein have the following
      meanings:

     

    “Agreement”
means
      this Agreement, as amended, restated, supplemented, or otherwise modified from
      time to time.

     

    “Commission”
means
      the Securities and Exchange Commission, or any other federal agency then
      administering the Securities Act or the Exchange Act.

     

    “Common
      Stock”
means
      the common stock, par value $0.0001 per share, of the Company.

     

    “Company”
is
      defined in the preamble to this Agreement.

     

    “Demand
      Registration”
is
      defined in Section 2.1.1.

     

    “Demanding
      Holder”
is
      defined in Section 2.1.1.

     

    “Exchange
      Act”
means
      the Securities Exchange Act of 1934, as amended, and the rules and regulations
      of the Commission promulgated thereunder, all as the same shall be in effect
      at
      the time.

     

    “Form
      S-3”
is
      defined in Section 2.3.

     

    “Indemnified
      Party”
is
      defined in Section 4.3.

     

    “Indemnifying
      Party”
is
      defined in Section 4.3.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    “Investor”
is
      defined in the preamble to this Agreement.

     

    “Investor
      Indemnified Party”
is
      defined in Section 4.1.

     

    “Maximum
      Number of Shares”
is
      defined in Section 2.1.4.

     

    “Notices”
is
      defined in Section 6.3.

     

    “Piggy-Back
      Registration”
is
      defined in Section 2.2.1.

     

    “Register,”
      “registered”
and
      “registration”
mean
      a
      registration effected by preparing and filing a registration statement or
      similar document in compliance with the requirements of the Securities Act,
      and
      the applicable rules and regulations promulgated thereunder, and such
      registration statement becoming effective.

     

    “Registrable
      Securities”
mean
      the 5,831,349 shares of Common Stock owned or held by Investors prior to
      the effective date of the Company’s initial public offering securities.
      Registrable Securities include any warrants, shares of capital stock or other
      securities of the Company issued as a dividend or other distribution with
      respect to or in exchange for or in replacement of such shares of Common Stock.
      As to any particular Registrable Securities, such securities shall cease to
      be
      Registrable Securities when: (a) a Registration Statement with respect to the
      sale of such securities shall have become effective under the Securities Act
      and
      such securities shall have been sold, transferred, disposed of or exchanged
      in
      accordance with such Registration Statement; (b) such securities shall have
      been
      otherwise transferred, new certificates for them not bearing a legend
      restricting further transfer shall have been delivered by the Company and
      subsequent public distribution of them shall not require registration under
      the
      Securities Act; (c) such securities shall have ceased to be outstanding, or
      (d)
      the Securities and Exchange Commission makes a definitive determination to
      the
      Company that the Registrable Securities are saleable under Rule
      144(k).

     

    “Registration
      Statement”
means
      a
      registration statement filed by the Company with the Commission in compliance
      with the Securities Act and the rules and regulations promulgated thereunder
      for
      a public offering and sale of Common Stock (other than a registration statement
      on Form S-4 or Form S-8, or their successors, or any registration statement
      covering only securities proposed to be issued in exchange for securities or
      assets of another entity).

     

    “Release
      Date” means the date on which shares of Common Stock are disbursed from escrow
      pursuant to Section 3 of that certain Stock Escrow Agreement dated as of
      ___________, 2006 by and among the parties hereto and Continental Stock Transfer
      & Trust Company.

     

    “Securities
      Act”
means
      the Securities Act of 1933, as amended, and the rules and regulations of the
      Commission promulgated thereunder, all as the same shall be in effect at the
      time.

     

    “Underwriter”
means
      a
      securities dealer who purchases any Registrable Securities as principal in
      an
      underwritten offering and not as part of such dealer’s market-making
      activities.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2.  REGISTRATION
      RIGHTS.

     

    2.1  Demand
      Registration.

     

    2.1.1.  Request
      for Registration.
      At any
      time and from time to time on or after the Release Date, the holders of a
      majority-in-interest of the Registrable Securities held by the Investors or
      the
      transferees of the Investors, may make a written demand for registration under
      the Securities Act of all or part of their Registrable Securities (a
“Demand
      Registration”).
      Any
      demand for a Demand Registration shall specify the number of shares of
      Registrable Securities proposed to be sold and the intended method(s) of
      distribution thereof. The Company will notify all holders of Registrable
      Securities of the demand, and each holder of Registrable Securities who wishes
      to include all or a portion of such holder’s Registrable Securities in the
      Demand Registration (each such holder including shares of Registrable Securities
      in such registration, a “Demanding
      Holder”)
      shall
      so notify the Company within fifteen (15) days after the receipt by the holder
      of the notice from the Company. Upon any such request, the Demanding Holders
      shall be entitled to have their Registrable Securities included in the Demand
      Registration, subject to Section 2.1.4 and the provisos set forth in Section
      3.1.1. The Company shall not be obligated to effect more than an aggregate
      of
      two (2) Demand Registrations under this Section 2.1.1 in respect of Registrable
      Securities.

     

    2.1.2.  Effective
      Registration.
      A
      registration will not count as a Demand Registration until the Registration
      Statement filed with the Commission with respect to such Demand Registration
      has
      been declared effective and the Company has complied with all of its obligations
      under this Agreement with respect thereto; provided,
      however,
      that
      if, after such Registration Statement has been declared effective, the offering
      of Registrable Securities pursuant to a Demand Registration is interfered with
      by any stop order or injunction of the Commission or any other governmental
      agency or court, the Registration Statement with respect to such Demand
      Registration will be deemed not to have been declared effective, unless and
      until, (i) such stop order or injunction is removed, rescinded or otherwise
      terminated, and (ii) a majority-in-interest of the Demanding Holders thereafter
      elect to continue the offering; provided,
      further,
      that
      the Company shall not be obligated to file a second Registration Statement
      until
      a Registration Statement that has been filed is counted as a Demand Registration
      or is terminated.

     

    2.1.3.  Underwritten
      Offering.
      If a
      majority-in-interest of the Demanding Holders so elect and such holders so
      advise the Company as part of their written demand for a Demand Registration,
      the offering of such Registrable Securities pursuant to such Demand Registration
      shall be in the form of an underwritten offering. In such event, the right
      of
      any holder to include its Registrable Securities in such registration shall
      be
      conditioned upon such holder’s participation in such underwriting and the
      inclusion of such holder’s Registrable Securities in the underwriting to the
      extent provided herein. All Demanding Holders proposing to distribute their
      securities through such underwriting shall enter into an underwriting agreement
      in customary form with the Underwriter or Underwriters selected for such
      underwriting by a majority-in-interest of the holders initiating the Demand
      Registration.

     

    2.1.4.  Reduction
      of Offering.
      If the
      managing Underwriter or Underwriters for a Demand Registration that is to be
      an
      underwritten offering advises the Company and the Demanding Holders in writing
      that the dollar amount or number of shares of Registrable Securities which
      the
      Demanding Holders desire to sell, taken together with all other shares of Common
      Stock or other securities which the Company desires to sell and the shares
      of
      Common Stock, if any, as to which registration has been requested pursuant
      to
      written contractual piggy-back registration rights held by other shareholders
      of
      the Company who desire to sell, exceeds the maximum dollar amount or maximum
      number of shares that can be sold in such offering without adversely affecting
      the proposed offering price, the timing, the distribution method, or the
      probability of success of such offering (such maximum dollar amount or maximum
      number of shares, as applicable, the “Maximum
      Number of Shares”),
      then
      the Company shall include in such registration: (i) first, the Registrable
      Securities as to which Demand Registration has been requested by the Demanding
      Holders (pro
      rata
      in
      accordance with the number of shares of Registrable Securities which such
      Demanding Holder has requested be included in such registration, regardless
      of
      the number of shares of Registrable Securities held by each Demanding Holder)
      that can be sold without exceeding the Maximum Number of Shares;
      (ii) second, to the extent that the Maximum Number of Shares has not been
      reached under the foregoing clause (i), the shares of Common Stock or other
      securities that the Company desires to sell that can be sold without exceeding
      the Maximum Number of Shares; (iii) third, to the extent that the Maximum Number
      of Shares has not been reached under the foregoing clauses (i) and (ii), the
      shares of Common Stock for the account of other persons that the Company is
      obligated to register pursuant to written contractual arrangements with such
      persons and that can be sold without exceeding the Maximum Number of Shares;
      and
      (iv) fourth, to the extent that the Maximum Number of Shares have not been
      reached under the foregoing clauses (i), (ii), and (iii), the shares of Common
      Stock that other shareholders desire to sell that can be sold without exceeding
      the Maximum Number of Shares.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2.1.5.  Withdrawal.
      If a
      majority-in-interest of the Demanding Holders disapprove of the terms of any
      underwriting or are not entitled to include all of their Registrable Securities
      in any offering, such majority-in-interest of the Demanding Holders may elect
      to
      withdraw from such offering by giving written notice to the Company and the
      Underwriter or Underwriters of their request to withdraw prior to the
      effectiveness of the Registration Statement filed with the Commission with
      respect to such Demand Registration. If the majority-in-interest of the
      Demanding Holders withdraws from a proposed offering relating to a Demand
      Registration, then such registration shall not count as a Demand Registration
      provided for in Section 2.1.1.

     

    2.2  Piggy-Back
      Registration.

     

    2.2.1.  Piggy-Back
      Rights.
      If at
      any time on or after the Release Date the Company proposes to file a
      Registration Statement under the Securities Act with respect to an offering
      of
      equity securities, or securities or other obligations exercisable or
      exchangeable for, or convertible into, equity securities, by the Company for
      its
      own account or for shareholders of the Company for their account (or by the
      Company and by shareholders of the Company including, without limitation,
      pursuant to Section 2.1), other than a Registration Statement (i) filed in
      connection with any employee stock option or other benefit plan, (ii) for an
      exchange offer or offering of securities solely to the Company’s existing
      shareholders, (iii) for an offering of debt that is convertible into equity
      securities of the Company or (iv) for a dividend reinvestment plan, then the
      Company shall (x) give written notice of such proposed filing to the holders
      of
      Registrable Securities as soon as practicable but in no event less than ten
      (10)
      days before the anticipated filing date, which notice shall describe the amount
      and type of securities to be included in such offering, the intended method(s)
      of distribution, and the name of the proposed managing Underwriter or
      Underwriters, if any, of the offering, and (y) offer to the holders of
      Registrable Securities in such notice the opportunity to register the sale
      of
      such number of shares of Registrable Securities as such holders may request
      in
      writing within five (5) days following receipt of such notice (a “Piggy-Back
      Registration”).
      The
      Company shall cause such Registrable Securities to be included in such
      registration and shall use its best efforts to cause the managing Underwriter
      or
      Underwriters of a proposed underwritten offering to permit the Registrable
      Securities requested to be included in a Piggy-Back Registration to be included
      on the same terms and conditions as any similar securities of the Company and
      to
      permit the sale or other disposition of such Registrable Securities in
      accordance with the intended method(s) of distribution thereof. All holders
      of
      Registrable Securities proposing to distribute their securities through a
      Piggy-Back Registration that involves an Underwriter or Underwriters shall
      enter
      into an underwriting agreement in customary form with the Underwriter or
      Underwriters selected for such Piggy-Back Registration.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2.2.2.  Reduction
      of Offering.
      If the
      managing Underwriter or Underwriters for a Piggy-Back Registration that is
      to be
      an underwritten offering advises the Company and the holders of Registrable
      Securities in writing that the dollar amount or number of shares of Common
      Stock
      which the Company desires to sell, taken together with shares of Common Stock,
      if any, as to which registration has been demanded pursuant to written
      contractual arrangements with persons other than the holders of Registrable
      Securities hereunder, the Registrable Securities as to which registration has
      been requested under this Section 2.2, and the shares of Common Stock, if any,
      as to which registration has been requested pursuant to the written contractual
      piggy-back registration rights of other shareholders of the Company, exceeds
      the
      Maximum Number of Shares, then the Company shall include in any such
      registration:

     

    (i)  If
      the
      registration is undertaken for the Company’s account: (A) first, the shares
      of Common Stock or other securities that the Company desires to sell that can
      be
      sold without exceeding the Maximum Number of Shares; (B) second, to the extent
      that the Maximum Number of Shares has not been reached under the foregoing
      clause (A), the shares of Common Stock, if any, including the Registrable
      Securities, as to which registration has been requested pursuant to written
      contractual piggy-back registration rights of security holders (pro
      rata
      in
      accordance with the number of shares of Common Stock which each such person
      has
      actually requested to be included in such registration, regardless of the number
      of shares of Common Stock with respect to which such persons have the right
      to
      request such inclusion) that can be sold without exceeding the Maximum Number
      of
      Shares; and

     

    (ii)  If
      the
      registration is a “demand” registration undertaken at the demand of persons
      other than the holders of Registrable Securities pursuant to written contractual
      arrangements with such persons, (A) first, the shares of Common Stock for the
      account of the demanding persons that can be sold without exceeding the Maximum
      Number of Shares; (B) second, to the extent that the Maximum Number of Shares
      has not been reached under the foregoing clause (A), the shares of Common Stock
      or other securities that the Company desires to sell that can be sold without
      exceeding the Maximum Number of Shares; and (C) third, to the extent that the
      Maximum Number of Shares has not been reached under the foregoing clauses (A)
      and (B), the Registrable Securities as to which registration has been requested
      under this Section 2.2 (pro
      rata
      in
      accordance with the number of shares of Registrable Securities held by each
      such
      holder); and (D) fourth, to the extent that the Maximum Number of Shares has
      not
      been reached under the foregoing clauses (A), (B) and (C), the shares of Common
      Stock, if any, as to which registration has been requested pursuant to written
      contractual piggy-back registration rights which other shareholders desire
      to
      sell that can be sold without exceeding the Maximum Number of
      Shares.

     

    2.2.3.  Withdrawal.
      Any
      holder of Registrable Securities may elect to withdraw such holder’s request for
      inclusion of Registrable Securities in any Piggy-Back Registration by giving
      written notice to the Company of such request to withdraw prior to the
      effectiveness of the Registration Statement. The Company may also elect to
      withdraw a registration statement at any time prior to the effectiveness of
      the
      Registration Statement. Notwithstanding any such withdrawal, the Company shall
      pay all expenses incurred by the holders of Registrable Securities in connection
      with such Piggy-Back Registration as provided in Section 3.3.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2.3  Registrations
      on Form S-3.
      The
      holders of Registrable Securities may at any time and from time to time, request
      in writing that the Company register the resale of any or all of such
      Registrable Securities on Form S-3 or any similar short-form registration which
      may be available at such time (“Form
      S-3”);
      provided,
      however,
      that
      the Company shall not be obligated to effect such request through an
      underwritten offering. Upon receipt of such written request, the Company will
      promptly give written notice of the proposed registration to all other holders
      of Registrable Securities, and, as soon as practicable thereafter, effect the
      registration of all or such portion of such holder’s or holders’ Registrable
      Securities as are specified in such request, together with all or such portion
      of the Registrable Securities of any other holder or holders joining in such
      request as are specified in a written request given within fifteen (15) days
      after receipt of such written notice from the Company; provided,
      however,
      that
      the Company shall not be obligated to effect any such registration pursuant
      to
      this Section 2.3: (i) if Form S-3 is not available for such offering; or (ii)
      if
      the holders of the Registrable Securities, together with the holders of any
      other securities of the Company entitled to inclusion in such registration,
      propose to sell Registrable Securities and such other securities (if any) at
      any
      aggregate price to the public of less than $500,000. Registrations effected
      pursuant to this Section 2.3 shall not be counted as Demand Registrations
      effected pursuant to Section 2.1.

     

    3.  REGISTRATION
      PROCEDURES.

     

    3.1  Filings;
      Information.
      Whenever the Company is required to effect the registration of any Registrable
      Securities pursuant to Section 2, the Company shall use its best efforts to
      effect the registration and sale of such Registrable Securities in accordance
      with the intended method(s) of distribution thereof as expeditiously as
      practicable, and in connection with any such request:

     

    3.1.1.  Filing
      Registration Statement.
      The
      Company shall, as expeditiously as possible and in any event within sixty (60)
      days after receipt of a request for a Demand Registration pursuant to Section
      2.1, prepare and file with the Commission a Registration Statement on any form
      for which the Company then qualifies or which counsel for the Company shall
      deem
      appropriate and which form shall be available for the sale of all Registrable
      Securities to be registered thereunder in accordance with the intended method(s)
      of distribution thereof, and shall use its best efforts to cause such
      Registration Statement to become and remain effective for the period required
      by
      Section 3.1.3; provided,
      however,
      that
      the Company shall have the right to defer any Demand Registration for up to
      thirty (30) days, and any Piggy-Back Registration for such period as may be
      applicable to deferment of any demand registration to which such Piggy-Back
      Registration relates, in each case if the Company shall furnish to the holders
      a
      certificate signed by the Chief Executive Officer of the Company stating that,
      in the good faith judgment of the Board of Directors of the Company, it would
      be
      materially detrimental to the Company and its shareholders for such Registration
      Statement to be effected at such time; provided
      further, however,
      that
      the Company shall not have the right to exercise the right set forth in the
      immediately preceding proviso more than once in any 365-day period in respect
      of
      a Demand Registration hereunder.

     

    3.1.2.  Copies.
      The
      Company shall, prior to filing a Registration Statement or prospectus, or any
      amendment or supplement thereto, furnish without charge to the holders of
      Registrable Securities included in such registration, and such holders’ legal
      counsel, copies of such Registration Statement as proposed to be filed, each
      amendment and supplement to such Registration Statement (in each case including
      all exhibits thereto and documents incorporated by reference therein), the
      prospectus included in such Registration Statement (including each preliminary
      prospectus), and such other documents as the holders of Registrable Securities
      included in such registration or legal counsel for any such holders may request
      in order to facilitate the disposition of the Registrable Securities owned
      by
      such holders.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    3.1.3.  Amendments
      and Supplements.
      The
      Company shall prepare and file with the Commission such amendments, including
      post-effective amendments, and supplements to such Registration Statement and
      the prospectus used in connection therewith as may be necessary to keep such
      Registration Statement effective and in compliance with the provisions of the
      Securities Act until all Registrable Securities and other securities covered
      by
      such Registration Statement have been disposed of in accordance with the
      intended method(s) of distribution set forth in such Registration Statement
      (which period shall not exceed the sum of one hundred eighty (180) days plus
      any
      period during which any such disposition is interfered with by any stop order
      or
      injunction of the Commission or any governmental agency or court) or such
      securities have been withdrawn.

     

    3.1.4.  Notification.
      After
      the filing of a Registration Statement, the Company shall promptly, and in
      no
      event more than two (2) business days after such filing, notify the holders
      of
      Registrable Securities included in such Registration Statement of such filing,
      and shall further notify such holders promptly and confirm such advice in
      writing in all events within two (2) business days of the occurrence of any
      of
      the following: (i) when such Registration Statement becomes effective; (ii)
      when
      any post-effective amendment to such Registration Statement becomes effective;
      (iii) the issuance or threatened issuance by the Commission of any stop order
      (and the Company shall take all actions required to prevent the entry of such
      stop order or to remove it if entered); and (iv) any request by the Commission
      for any amendment or supplement to such Registration Statement or any prospectus
      relating thereto or for additional information or of the occurrence of an event
      requiring the preparation of a supplement or amendment to such prospectus so
      that, as thereafter delivered to the purchasers of the securities covered by
      such Registration Statement, such prospectus will not contain an untrue
      statement of a material fact or omit to state any material fact required to
      be
      stated therein or necessary to make the statements therein not misleading,
      and
      promptly make available to the holders of Registrable Securities included in
      such Registration Statement any such supplement or amendment; except that before
      filing with the Commission a Registration Statement or prospectus or any
      amendment or supplement thereto, including documents incorporated by reference,
      the Company shall furnish to the holders of Registrable Securities included
      in
      such Registration Statement and to the legal counsel for any such holders,
      copies of all such documents proposed to be filed sufficiently in advance of
      filing to provide such holders and legal counsel with a reasonable opportunity
      to review such documents and comment thereon, and the Company shall not file
      any
      Registration Statement or prospectus or amendment or supplement thereto,
      including documents incorporated by reference, to which such holders or their
      legal counsel shall object.

     

    3.1.5.  State
      Securities Laws Compliance.
      The
      Company shall use its best efforts to (i) register or qualify the Registrable
      Securities covered by the Registration Statement under such securities or “blue
      sky” laws of such jurisdictions in the United States as the holders of
      Registrable Securities included in such Registration Statement (in light of
      their intended plan of distribution) may request and (ii) take such action
      necessary to cause such Registrable Securities covered by the Registration
      Statement to be registered with or approved by such other Governmental
      Authorities as may be necessary by virtue of the business and operations of
      the
      Company and do any and all other acts and things that may be necessary or
      advisable to enable the holders of Registrable Securities included in such
      Registration Statement to consummate the disposition of such Registrable
      Securities in such jurisdictions; provided,
      however,
      that
      the Company shall not be required to qualify generally to do business in any
      jurisdiction where it would not otherwise be required to qualify but for this
      paragraph 3.1.5 or subject itself to taxation in any such
      jurisdiction.

     

    3.1.6.  Agreements
      for Disposition.
      The
      Company shall enter into customary agreements (including, if applicable, an
      underwriting agreement in customary form) and take such other actions as are
      reasonably required in order to expedite or facilitate the disposition of such
      Registrable Securities. The representations, warranties and covenants of the
      Company in any underwriting agreement which are made to or for the benefit of
      any Underwriters, to the extent applicable, shall also be made to and for the
      benefit of the holders of Registrable Securities included in such registration
      statement. No holder of Registrable Securities included in such registration
      statement shall be required to make any representations or warranties in the
      underwriting agreement except, if applicable, with respect to such holder’s
      organization, good standing, authority, title to Registrable Securities, lack
      of
      conflict of such sale with such holder’s material agreements and organizational
      documents, and with respect to written information relating to such holder
      that
      such holder has furnished in writing expressly for inclusion in such
      Registration Statement.

     

    3.1.7.  Cooperation.
      The
      principal executive officer of the Company, the principal financial officer
      of
      the Company, the principal accounting officer of the Company and all other
      officers and members of the management of the Company shall cooperate fully
      in
      any offering of Registrable Securities hereunder, which cooperation shall
      include, without limitation, the preparation of the Registration Statement
      with
      respect to such offering and all other offering materials and related documents,
      and participation in meetings with Underwriters, attorneys, accountants and
      potential investors.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    3.1.8.  Records.
      The
      Company shall make available for inspection by the holders of Registrable
      Securities included in such Registration Statement, any Underwriter
      participating in any disposition pursuant to such registration statement and
      any
      attorney, accountant or other professional retained by any holder of Registrable
      Securities included in such Registration Statement or any Underwriter, all
      financial and other records, pertinent corporate documents and properties of
      the
      Company, as shall be necessary to enable them to exercise their due diligence
      responsibility, and cause the Company’s officers, directors and employees to
      supply all information requested by any of them in connection with such
      Registration Statement.

     

    3.1.9.  Opinions
      and Comfort Letters.
      The
      Company shall furnish to each holder of Registrable Securities included in
      any
      Registration Statement a signed counterpart, addressed to such holder, of (i)
      any opinion of counsel to the Company delivered to any Underwriter and (ii)
      any
      comfort letter from the Company’s independent public accountants delivered to
      any Underwriter. In the event no legal opinion is delivered to any Underwriter,
      the Company shall furnish to each holder of Registrable Securities included
      in
      such Registration Statement, at any time that such holder elects to use a
      prospectus, an opinion of counsel to the Company to the effect that the
      Registration Statement containing such prospectus has been declared effective
      and that no stop order is in effect.

     

    3.1.10.  Earnings
      Statement.
      The
      Company shall comply with all applicable rules and regulations of the Commission
      and the Securities Act, and make available to its shareholders, as soon as
      practicable, an earnings statement covering a period of twelve (12) months,
      beginning within three (3) months after the effective date of the registration
      statement, which earnings statement shall satisfy the provisions of Section
      11(a) of the Securities Act and Rule 158 thereunder.

     

    3.1.11.  Listing.
      The
      Company shall use its best efforts to cause all Registrable Securities included
      in any registration to be listed on such exchanges or otherwise designated
      for
      trading in the same manner as similar securities issued by the Company are
      then
      listed or designated or, if no such similar securities are then listed or
      designated, in a manner satisfactory to the holders of a majority of the
      Registrable Securities included in such registration.

     

    3.2  Obligation
      to Suspend Distribution.
      Upon
      receipt of any notice from the Company of the happening of any event of the
      kind
      described in Section 3.1.4(iv), or, in the case of a resale registration on
      Form
      S-3 pursuant to Section 2.3 hereof, upon any suspension by the Company, pursuant
      to a written insider trading compliance program adopted by the Company’s Board
      of Directors, of the ability of all “insiders” covered by such program to
      transact in the Company’s securities because of the existence of material
      non-public information, each holder of Registrable Securities included in any
      registration shall immediately discontinue disposition of such Registrable
      Securities pursuant to the Registration Statement covering such Registrable
      Securities until such holder receives the supplemented or amended prospectus
      contemplated by Section 3.1.4(iv) or the restriction on the ability of
“insiders” to transact in the Company’s securities is removed, as applicable,
      and, if so directed by the Company, each such holder will deliver to the Company
      all copies, other than permanent file copies then in such holder’s possession,
      of the most recent prospectus covering such Registrable Securities at the time
      of receipt of such notice.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    3.3  Registration
      Expenses.
      The
      Company shall bear all costs and expenses incurred in connection with any Demand
      Registration pursuant to Section 2.1, any Piggy-Back Registration pursuant
      to
      Section 2.2, and any registration on Form S-3 effected pursuant to Section
      2.3,
      and all expenses incurred in performing or complying with its other obligations
      under this Agreement, whether or not the Registration Statement becomes
      effective, including, without limitation: (i) all registration and filing fees;
      (ii) fees and expenses of compliance with securities or “blue sky” laws
      (including fees and disbursements of counsel in connection with blue sky
      qualifications of the Registrable Securities); (iii) printing expenses; (iv)
      the
      Company’s internal expenses (including, without limitation, all salaries and
      expenses of its officers and employees); (v) the fees and expenses incurred
      in
      connection with the listing of the Registrable Securities as required by Section
      3.1.11; (vi) National Association of Securities Dealers, Inc. fees; (vii) fees
      and disbursements of counsel for the Company and fees and expenses for
      independent certified public accountants retained by the Company (including
      the
      expenses or costs associated with the delivery of any opinions or comfort
      letters requested pursuant to Section 3.1.9); (viii) the fees and expenses
      of
      any special experts retained by the Company in connection with such registration
      and (ix) the fees and expenses of one legal counsel selected by the holders
      of a
      majority-in-interest of the Registrable Securities included in such
      registration. The Company shall have no obligation to pay any underwriting
      discounts or selling commissions attributable to the Registrable Securities
      being sold by the holders thereof, which underwriting discounts or selling
      commissions shall be borne by such holders. Additionally, in an underwritten
      offering, all selling shareholders and the Company shall bear the expenses
      of
      the underwriter pro
      rata
      in
      proportion to the respective amount of shares each is selling in such
      offering.

     

    3.4  Information.
      The
      holders of Registrable Securities shall provide such information as may
      reasonably be requested by the Company, or the managing Underwriter, if any,
      in
      connection with the preparation of any Registration Statement, including
      amendments and supplements thereto, in order to effect the registration of
      any
      Registrable Securities under the Securities Act pursuant to Section 2 and in
      connection with the Company’s obligation to comply with federal and applicable
      state securities laws.

     

    4.  INDEMNIFICATION
      AND CONTRIBUTION.

     

    4.1  Indemnification
      by the Company.
      The
      Company agrees to indemnify and hold harmless each Investor and each other
      holder of Registrable Securities, and each of their respective officers,
      employees, affiliates, directors, partners, members, attorneys and agents,
      and
      each person, if any, who controls an Investor and each other holder of
      Registrable Securities (within the meaning of Section 15 of the Securities
      Act
      or Section 20 of the Exchange Act) (each, an “Investor
      Indemnified Party”),
      from
      and against any expenses, losses, judgments, claims, damages or liabilities,
      whether joint or several, arising out of or based upon any untrue statement
      (or
      allegedly untrue statement) of a material fact contained in any Registration
      Statement under which the sale of such Registrable Securities was registered
      under the Securities Act, any preliminary prospectus, final prospectus or
      summary prospectus contained in the Registration Statement, or any amendment
      or
      supplement to such Registration Statement, or arising out of or based upon
      any
      omission (or alleged omission) to state a material fact required to be stated
      therein or necessary to make the statements therein not misleading, or any
      violation by the Company of the Securities Act or any rule or regulation
      promulgated thereunder applicable to the Company and relating to action or
      inaction required of the Company in connection with any such registration;
      and
      the Company shall promptly reimburse the Investor Indemnified Party for any
      legal and any other expenses reasonably incurred by such Investor Indemnified
      Party in connection with investigating and defending any such expense, loss,
      judgment, claim, damage, liability or action; provided,
      however,
      that
      the Company will not be liable in any such case to the extent that any such
      expense, loss, claim, damage or liability arises out of or is based upon any
      untrue statement or allegedly untrue statement or omission or alleged omission
      made in such Registration Statement, preliminary prospectus, final prospectus,
      or summary prospectus, or any such amendment or supplement, in reliance upon
      and
      in conformity with information furnished to the Company, in writing, by such
      selling holder expressly for use therein. The Company also shall indemnify
      any
      Underwriter of the Registrable Securities, their officers, affiliates,
      directors, partners, members and agents and each person who controls such
      Underwriter on substantially the same basis as that of the indemnification
      provided above in this Section 4.1.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    4.2  Indemnification
      by Holders of Registrable Securities.
      Each
      selling holder of Registrable Securities will, in the event that any
      registration is being effected under the Securities Act pursuant to this
      Agreement of any Registrable Securities held by such selling holder, indemnify
      and hold harmless the Company, each of its directors and officers and each
      underwriter (if any), and each other person, if any, who controls the company
      or
      any such underwriter within the meaning of the Securities Act, against any
      losses, claims, judgments, damages or liabilities, whether joint or several,
      insofar as such losses, claims, judgments, damages or liabilities (or actions
      in
      respect thereof) arise out of or are based upon any untrue statement or
      allegedly untrue statement of a material fact contained in any Registration
      Statement under which the sale of such Registrable Securities was registered
      under the Securities Act, any preliminary prospectus, final prospectus or
      summary prospectus contained in the Registration Statement, or any amendment
      or
      supplement to the Registration Statement, or arise out of or are based upon
      any
      omission or the alleged omission to state a material fact required to be stated
      therein or necessary to make the statement therein not misleading, if the
      statement or omission was made in reliance upon and in conformity with
      information furnished in writing to the Company by such selling holder expressly
      for use therein, and shall reimburse the Company, its directors and officers,
      and each such controlling person for any legal or other expenses reasonably
      incurred by any of them in connection with investigation or defending any such
      loss, claim, damage, liability or action. Each selling holder’s indemnification
      obligations hereunder shall be several and not joint and shall be limited to
      the
      amount of any net proceeds actually received by such selling
      holder.

     

    4.3  Conduct
      of Indemnification Proceedings.
      Promptly after receipt by any person of any notice of any loss, claim, damage
      or
      liability or any action in respect of which indemnity may be sought pursuant
      to
      Section 4.1 or 4.2, such person (the “Indemnified
      Party”)
      shall,
      if a claim in respect thereof is to be made against any other person for
      indemnification hereunder, notify such other person (the “Indemnifying
      Party”)
      in
      writing of the loss, claim, judgment, damage, liability or action; provided,
      however, that the failure by the Indemnified Party to notify the Indemnifying
      Party shall not relieve the Indemnifying Party from any liability which the
      Indemnifying Party may have to such Indemnified Party hereunder, except and
      solely to the extent the Indemnifying Party is actually prejudiced by such
      failure. If the Indemnified Party is seeking indemnification with respect to
      any
      claim or action brought against the Indemnified Party, then the Indemnifying
      Party shall be entitled to participate in such claim or action, and, to the
      extent that it wishes, jointly with all other Indemnifying Parties, to assume
      control of the defense thereof with counsel satisfactory to the Indemnified
      Party. After notice from the Indemnifying Party to the Indemnified Party of
      its
      election to assume control of the defense of such claim or action, the
      Indemnifying Party shall not be liable to the Indemnified Party for any legal
      or
      other expenses subsequently incurred by the Indemnified Party in connection
      with
      the defense thereof other than reasonable costs of investigation; provided,
      however, that in any action in which both the Indemnified Party and the
      Indemnifying Party are named as defendants, the Indemnified Party shall have
      the
      right to employ separate counsel (but no more than one such separate counsel)
      to
      represent the Indemnified Party and its controlling persons who may be subject
      to liability arising out of any claim in respect of which indemnity may be
      sought by the Indemnified Party against the Indemnifying Party, with the fees
      and expenses of such counsel to be paid by such Indemnifying Party if, based
      upon the written opinion of counsel of such Indemnified Party, representation
      of
      both parties by the same counsel would be inappropriate due to actual or
      potential differing interests between them. No Indemnifying Party shall, without
      the prior written consent of the Indemnified Party, consent to entry of judgment
      or effect any settlement of any claim or pending or threatened proceeding in
      respect of which the Indemnified Party is or could have been a party and
      indemnity could have been sought hereunder by such Indemnified Party, unless
      such judgment or settlement includes an unconditional release of such
      Indemnified Party from all liability arising out of such claim or
      proceeding.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    4.4  Contribution.

     

    4.4.1.  If
      the
      indemnification provided for in the foregoing Sections 4.1, 4.2 and 4.3 is
      unavailable to any Indemnified Party in respect of any loss, claim, damage,
      liability or action referred to herein, then each such Indemnifying Party,
      in
      lieu of indemnifying such Indemnified Party, shall contribute to the amount
      paid
      or payable by such Indemnified Party as a result of such loss, claim, damage,
      liability or action in such proportion as is appropriate to reflect the relative
      fault of the Indemnified Parties and the Indemnifying Parties in connection
      with
      the actions or omissions which resulted in such loss, claim, damage, liability
      or action, as well as any other relevant equitable considerations. The relative
      fault of any Indemnified Party and any Indemnifying Party shall be determined
      by
      reference to, among other things, whether the untrue or alleged untrue statement
      of a material fact or the omission or alleged omission to state a material
      fact
      relates to information supplied by such Indemnified Party or such Indemnifying
      Party and the parties’ relative intent, knowledge, access to information and
      opportunity to correct or prevent such statement or omission.

     

    4.4.2.  The
      parties hereto agree that it would not be just and equitable if contribution
      pursuant to this Section 4.4 were determined by pro
      rata
      allocation or by any other method of allocation which does not take account
      of
      the equitable considerations referred to in the immediately preceding Section
      4.4.1. The amount paid or payable by an Indemnified Party as a result of any
      loss, claim, damage, liability or action referred to in the immediately
      preceding paragraph shall be deemed to include, subject to the limitations
      set
      forth above, any legal or other expenses incurred by such Indemnified Party
      in
      connection with investigating or defending any such action or claim.
      Notwithstanding the provisions of this Section 4.4, no holder of Registrable
      Securities shall be required to contribute any amount in excess of the dollar
      amount of the net proceeds (after payment of any underwriting fees, discounts,
      commissions or taxes) actually received by such holder from the sale of
      Registrable Securities which gave rise to such contribution obligation. No
      person guilty of fraudulent misrepresentation (within the meaning of Section
      11(f) of the Securities Act) shall be entitled to contribution from any person
      who was not guilty of such fraudulent misrepresentation.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    5.  UNDERWRITING
      AND DISTRIBUTION.

     

    5.1  Rule
      144.
      The
      Company covenants that it shall file any reports required to be filed by it
      under the Securities Act and the Exchange Act and shall take such further action
      as the holders of Registrable Securities may reasonably request, all to the
      extent required from time to time to enable such holders to sell Registrable
      Securities without registration under the Securities Act within the limitation
      of the exemptions provided by Rule 144 under the Securities Act, as such Rules
      may be amended from time to time, or any similar Rule or regulation hereafter
      adopted by the Commission.

     

    6.  MISCELLANEOUS.

     

    6.1  Other
      Registration Rights.
      The
      Company represents and warrants that no person, other than a holder of the
      Registrable Securities, has any right to require the Company to register any
      shares of the Company’s capital stock for sale or to include shares of the
      Company’s capital stock in any registration filed by the Company for the sale of
      shares of capital stock for its own account or for the account of any other
      person.

     

    6.2  Assignment;
      No Third Party Beneficiaries.
      This
      Agreement and the rights, duties and obligations of the Company hereunder may
      not be assigned or delegated by the Company in whole or in part. This Agreement
      and the rights, duties and obligations of the holders of Registrable Securities
      hereunder may be freely assigned or delegated by such holder of Registrable
      Securities in conjunction with and to the extent of any transfer of Registrable
      Securities by any such holder. This Agreement and the provisions hereof shall
      be
      binding upon and shall inure to the benefit of each of the parties and their
      respective successors and the permitted assigns of the Investor or holder of
      Registrable Securities or of any assignee of the Investor or holder of
      Registrable Securities. This Agreement is not intended to confer any rights
      or
      benefits on any persons that are not party hereto other than as expressly set
      forth in Article 4 and this Section 6.2.

     

    6.3  Notices.
      All
      notices, demands, requests, consents, approvals or other communications
      (collectively, “Notices”)
      required or permitted to be given hereunder or which are given with respect
      to
      this Agreement shall be in writing and shall be personally served, delivered
      by
      reputable air courier service with charges prepaid, or transmitted by hand
      delivery, telegram, telex or facsimile, addressed as set forth below, or to
      such
      other address as such party shall have specified most recently by written
      notice. Notice shall be deemed given on the date of service or transmission
      if
      personally served or transmitted by telegram, telex or facsimile; provided,
      that
      if such service or transmission is not on a business day or is after normal
      business hours, then such notice shall be deemed given on the next business
      day.
      Notice otherwise sent as provided herein shall be deemed given on the next
      business day following timely delivery of such notice to a reputable air courier
      service with an order for next-day delivery.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      	 	

              To
                the Company:

              

              Energy
                Infrastructure Acquisition Corp.

              

              641 Madison
                Avenue

              

              New
                York, New York 10022

              

              Attn:
                Arie Silverberg, Chief Executive Officer 

              

              with
                a copy to:

              

              Loeb
                & Loeb LLP 

              

              345
                Park Avenue 

              

              New
                York, New York 10154

              

              Attn:
                Mitchell S. Nussbaum, Esq.

              

              To
                an Investor, to:

              

              Arie
                Silverberg

            	 
              
              ;
                or

            
	 	
              _______________________

               

              _______________________

               

              _______________________

               

              Marios
                Pantazopoulos

            	
              ;
                or

            
	 	
              
                _______________________

                 

                _______________________

                 

                _______________________

                 

                George
                  Sagredos

              

            	;
              or
	 	
              
                _______________________

                 

                _______________________

                 

                _______________________

                 

                Andreas
                  Theotokis

              

            	;
              or
	 	 
              
              _______________________

               

              _______________________

               

              _______________________

               

              Jonathan
                Kollek

            	;
              or
	 	 

              _______________________

               

              _______________________

               

              _______________________

               

              David
                Wong

            	;
              or

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    6.4  Severability.
      This
      Agreement shall be deemed severable, and the invalidity or unenforceability
      of
      any term or provision hereof shall not affect the validity or enforceability
      of
      this Agreement or of any other term or provision hereof. Furthermore, in lieu
      of
      any such invalid or unenforceable term or provision, the parties hereto intend
      that there shall be added as a part of this Agreement a provision as similar
      in
      terms to such invalid or unenforceable provision as may be possible and be
      valid
      and enforceable.

     

    6.5  Counterparts.
      This
      Agreement may be executed in multiple counterparts, each of which shall be
      deemed an original, and all of which taken together shall constitute one and
      the
      same instrument.

     

    6.6  Entire
      Agreement.
      This
      Agreement (including all agreements entered into pursuant hereto and all
      certificates and instruments delivered pursuant hereto and thereto) constitute
      the entire agreement of the parties with respect to the subject matter hereof
      and supersede all prior and contemporaneous agreements, representations,
      understandings, negotiations and discussions between the parties, whether oral
      or written.

     

    6.7  Modifications
      and Amendments.
      No
      amendment, modification or termination of this Agreement shall be binding upon
      any party unless executed in writing by such party.

     

    6.8  Titles
      and Headings.
      Titles
      and headings of sections of this Agreement are for convenience only and shall
      not affect the construction of any provision of this Agreement.

     

    6.9  Waivers
      and Extensions.
      Any
      party to this Agreement may waive any right, breach or default which such party
      has the right to waive, provided that such waiver will not be effective against
      the waiving party unless it is in writing, is signed by such party, and
      specifically refers to this Agreement. Waivers may be made in advance or after
      the right waived has arisen or the breach or default waived has occurred. Any
      waiver may be conditional. No waiver of any breach of any agreement or provision
      herein contained shall be deemed a waiver of any preceding or succeeding breach
      thereof nor of any other agreement or provision herein contained. No waiver
      or
      extension of time for performance of any obligations or acts shall be deemed
      a
      waiver or extension of the time for performance of any other obligations or
      acts.

     

    6.10  Remedies
      Cumulative.
      In the
      event that the Company fails to observe or perform any covenant or agreement
      to
      be observed or performed under this Agreement, the Investor or any other holder
      of Registrable Securities may proceed to protect and enforce its rights by
      suit
      in equity or action at law, whether for specific performance of any term
      contained in this Agreement or for an injunction against the breach of any
      such
      term or in aid of the exercise of any power granted in this Agreement or to
      enforce any other legal or equitable right, or to take any one or more of such
      actions, without being required to post a bond. None of the rights, powers
      or
      remedies conferred under this Agreement shall be mutually exclusive, and each
      such right, power or remedy shall be cumulative and in addition to any other
      right, power or remedy, whether conferred by this Agreement or now or hereafter
      available at law, in equity, by statute or otherwise.

     

    6.11  Governing
      Law.
      This
      Agreement shall be governed by, interpreted under, and construed in accordance
      with the internal laws of the State of New York applicable to agreements made
      and to be performed within the State of New York, without giving effect to
      any
      choice-of-law provisions thereof that would compel the application of the
      substantive laws of any other jurisdiction.

     

    6.12  Waiver
      of Trial by Jury.
      Each
      party hereby irrevocably and unconditionally waives the right to a trial by
      jury
      in any action, suit, counterclaim or other proceeding (whether based on
      contract, tort or otherwise) arising out of, connected with or relating to
      this
      Agreement, the transactions contemplated hereby, or the actions of the Investor
      in the negotiation, administration, performance or enforcement
      hereof.

     

    [REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK]

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the parties have caused this Registration Rights Agreement
      to
      be executed and delivered by their duly authorized representatives as of the
      date first written above.

     

     

    
      	 	 	 
	 	
              ENERGY
                INFRASTRUCTURE ACQUISITION CORP.

            
	 
 	 
 	 
 
	 	By:  	 
	 	
              
Name:
              George Sagredos
	 	Title:
              Chief Operating Officer and President

    

     

    
      	 	 	 
	 	INVESTORS
	 	 	 
	 	
              

            
	 	Arie
              Silverberg

    

     

    
      	 	 	 
	 	
              

            
	 	Marios
              Pantazopoulos

    

     

    
      	 	 	 
	 	
              

            
	 	George
              Sagredos

    

     

    
      	 	 	 
	 	
              

            
	 	Andreas
              Theotokis

    

     

    
      	 	 	 
	 	
              

            
	 	Jonathan
              Kollek

    

     

    
      	 	 	 
	 	
              

            
	 	David
              WongUnassociated Document

    SUBSCRIPTION
      AGREEMENT 

    

    
      SUBSCRIPTION
        AGREEMENT (this “Agreement”) made as of this 2nd day of January, 2006 for the
        benefit of Energy Infrastructure Acquisition Corp., a Delaware corporation
        (the
“Company”), having its principal place of business c/o Schwartz & Weiss,
        P.C., 475 Madison Avenue, New York, NY 10022 by the person or entity listed
        on
        the signature page hereto under the heading “Subscriber” (the
“Subscriber”).

       

      WHEREAS,
        the Company desires to sell an aggregate of 825,389 units 

    

     

    (the
      “Units”),
      consisting of one share of the Company’s common stock, par value $.0001 per
      share (the “Common
      Stock”),
      and
      one warrant exercisable for one share of Common Stock (the “Warrants”),
      for a
      per Unit purchase price of $10.00 per share (i.e., an aggregate purchase price
      of at least $8,253,980); and

     

    WHEREAS,
      the Subscriber is entitled to registration rights with respect to the Units,
      all
      of the shares of Common Stock and the Warrants comprising the Units, the shares
      of Common Stock issuable upon exercise of the Warrants (the “Warrant
      Shares”),
      any
      warrants, shares of capital stock or other securities of the Company issued
      as a
      dividend or other distribution with respect to or in exchange for or in
      replacement of such shares of Common Stock and Warrants, and such number of
      shares that may be used to prevent dilution resulting from stock splits, stock
      dividends or similar transactions (collectively, the “Registrable
      Securities”)
      on the
      terms set forth in this Agreement; and 

     

    WHEREAS,
      the offer and sale of the Units (the “Offering”) is being made in reliance upon
      the provisions of Regulation S ("Regulation
      S")
      promulgated by the Securities and Exchange Commission (the "SEC")
      under
      the Securities Act of 1933, as amended (the "Securities
      Act");
      

     

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

    

    1. Agreement
      to Subscribe

    

    1.1 Purchase
      and Issuance of the Units.
      The
      Subscriber is hereby subscribing for the number of Units indicated on the
      signature page hereto by the caption, “Number of Units Being Subscribed” (the
      "Subscriber's
      Units")
      which
      Subscriber Units will be issued to the Subscriber, or his affiliates or
      designees. The aggregate purchase price for such Subscriber’s Units (the
“Purchase Price”) is indicated on the signature page hereto by the caption,
“Purchase Price”. 

    

    1.2 Delivery
      of the Purchase Price.
      Upon
      execution of this Agreement the undersigned is hereby bound to fulfill its
      obligations hereunder and hereby irrevocably commits to deliver to the Company
      on the date of Closing (as hereinafter defined) the Purchase Price by bank
      check, wire transfer or such other form of payment as shall be acceptable to
      the
      Company, in its sole and absolute discretion, at the Closing. Any such check
      delivered to the Company shall be made payable to the order of "Energy
      Infrastructure Acquisition Corp.” 

    

    1.2 Closing.
      The
      closing of the Offering (the "Closing"),
      shall
      take place at the offices of the Company, on the earlier of the date immediately
      preceding the commencement of the roadshow with respect to the Company’s
      proposed initial public offering of up to 17,250,000 units of Common Stock
      and
      warrants (the "IPO"),
      and
      December 31, 2006.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2. Representations
      and Warranties of the Subscriber

    

    The
      Subscriber represents and warrants to the Company that:

    

    2.1 No
      Government Recommendation or Approval.
      The
      Subscriber understands that no United States federal or state agency or similar
      agency of any other country, has passed upon or made any recommendation or
      endorsement of the Company or the Offering of the Units. 

    

    2.2 Not
      a
      "U.S. Person".
      The
      Subscriber is not a "U.S. Person" as defined in Rule 902 of
      Regulation S promulgated under the Securities Act, was not organized under
      the laws of any United States jurisdiction, and was not formed for the purpose
      of investing in securities not registered under the Securities Act. At the
      time
      the purchase order for this transaction was originated, the Subscriber was
      outside the United States.

    

    2.3 Intent.
      The
      Subscriber is purchasing the Units solely for investment purposes, for the
      Subscriber's own account and not for the account or benefit of any U.S. person,
      and not with a view towards the distribution or dissemination thereof and the
      Subscriber has no present arrangement to sell the Units to or through any person
      or entity. The Subscriber understands that the Units must be held indefinitely
      unless such Units are resold in accordance with the provisions of Regulation
      S,
      are subsequently registered under the Securities Act or an exemption from
      registration is available.

    

    2.4 Restrictions
      on Transfer.
      The
      Subscriber understands that the Units are being offered in a transaction not
      involving a public offering in the United States within the meaning of the
      Securities Act. The Units have not been registered under the Securities Act,
      and, if in the future the Subscriber decides to offer, resell, pledge or
      otherwise transfer the Units, such Units may be offered, resold, pledged or
      otherwise transferred only (A) pursuant to an effective registration statement
      filed under the Securities Act, (B) to a non-U.S. person in an offshore
      transaction in accordance with Rule 903 or Rule 904 of Regulation S of the
      Securities Act, (C) pursuant to the resale limitations set forth in Rule 905
      of
      Regulation S, (D) pursuant to an exemption from registration under the
      Securities Act provided by Rule 144 thereunder (if available) or (E) pursuant
      to
      any other exemption from the registration requirements of the Securities Act,
      and in each case in accordance with any applicable securities laws of any state
      of the United States or any other jurisdiction. The Subscriber acknowledges,
      agrees and covenants that it will not engage in hedging transactions with regard
      to the Units prior to the expiration of the distribution compliance period
      specified in Rule 903 of Regulation S promulgated under the Securities Act,
      unless in compliance with the Securities Act. The Subscriber agrees that if
      any
      transfer of its Units or any interest therein is proposed to be made, as a
      condition precedent to any such transfer, the Subscriber may be required to
      deliver to the Company an opinion of counsel satisfactory to the Company. Absent
      registration or another exemption from registration, the Subscriber agrees
      that
      it will not resell the securities constituting the Subscriber's Units to U.S.
      Persons or within the United States.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2.5. Sophisticated
      Investor.

    

    (i)  The
      Subscriber is sophisticated in financial matters and is able to evaluate the
      risks and benefits of the investment in the Units.

    

    (ii)  The
      Subscriber is able to bear the economic risk of his investment in the Units
      for
      an indefinite period of time because none of the Units have been registered
      under the Securities Act and therefore cannot be sold unless subsequently
      registered under the Securities Act or an exemption from such registration
      is
      available.

    

    2.6 Independent
      Investigation.
      The
      Subscriber, in making the decision to purchase the Units, has relied upon an
      independent investigation of the Company and has not relied upon any information
      or representations made by any third parties or upon any oral or written
      representations or assurances from the Company, its officers, directors or
      employees or any other representatives or agents of the Company, other than
      as
      set forth in this Agreement. The Subscriber is familiar with the business,
      operations and financial condition of the Company and has had an opportunity
      to
      ask questions of, and receive answers from, the Company’s officers and directors
      concerning the Company and the terms and conditions of the offering of the
      Units
      and has had full access to such other information concerning the Company as
      the
      Subscriber has requested.

    

    2.7 Authority.
      This
      Agreement has been validly authorized, executed and delivered by the Subscriber
      and is a valid and binding agreement enforceable in accordance with its terms,
      subject to the general principles of equity and to bankruptcy or other laws
      affecting the enforcement of creditors' rights generally. The execution,
      delivery and performance of this Agreement by the Subscriber does not and will
      not conflict with, violate or cause a breach of any agreement, contract or
      instrument to which the Subscriber is a party.

    

    2.8 No
      Legal Advice from Company.
      The
      Subscriber acknowledges that he, she or it has had the opportunity to review
      this Agreement and the transactions contemplated by this Agreement and the
      other
      agreements entered into between the parties hereto with the Subscriber's own
      legal counsel and investment and tax advisors. Except for any statements or
      representations of the Company made in this Agreement and the other agreements
      entered into between the parties hereto, the Subscriber is relying solely on
      such counsel and advisors and not on any statements or representations of the
      Company or any of its representatives or agents for legal, tax or investment
      advice with respect to this investment, the transactions contemplated by this
      Agreement or the securities laws of any jurisdiction.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2.9 Reliance
      on Representations and Warranties.
      The
      Subscriber understands that the Units are being offered and sold to the
      Subscriber in reliance on specific provisions of United States federal and
      state
      securities laws and that the Company is relying upon the truth and accuracy
      of
      the representations, warranties, agreements, acknowledgments and understandings
      of the Subscriber set forth in this Agreement in order to determine the
      applicability of such provisions. 

    

    2.10 No
      Advertisements.
      The
      undersigned is not subscribing for the Units as a result of or subsequent to
      any
      advertisement, article, notice or other communication published in any
      newspaper, magazine, or similar media or broadcast over television or radio,
      or
      presented at any seminar or meeting.

    

    2.11 Legend.
      The
      Subscriber acknowledges and agrees that the shares of Common Stock and the
      Warrants comprising the Units, and when issued the Warrant Shares, shall bear
      a
      restricted legend (the "Legend"),
      in
      the form and substance as set forth in Section 4 hereof, prohibiting the offer,
      sale, pledge or transfer of the securities, except (i) pursuant to an effective
      registration statement filed under the Securities Act, (ii) in accordance with
      the applicable provisions of Regulation S, promulgated under the Securities
      Act,
      (iii) pursuant to an exemption from registration provided by Rule 144 under
      the
      Securities Act (if available), and (iv) pursuant to any other exemption from
      the
      registration requirements of the Securities Act. 

     

    3. Representations
      and Warranties of the Company

    

    The
      Company represents and warrants to each Subscriber that:

    

    3.1 Valid
      Issuance of Capital Stock.
      The
      total number of shares of all classes of capital stock which the Company has
      authority to issue is 89,000,000 shares of Common Stock. As of the date hereof,
      the Company has 3,956,349 shares of Common Stock issued and outstanding. All
      of
      the issued shares of capital stock of the Company have been duly authorized,
      validly issued, and are fully paid and non-assessable.

    

    3.2 Organization
      and Qualification.
      The
      Company is a corporation duly incorporated and existing in good standing under
      the laws of the state of Delaware and has the requisite corporate power to
      own
      its properties and assets and to carry on its business as now being
      conducted.

    

    3.3 Authorization;
      Enforcement.
      (i) The
      Company has the requisite corporate power and authority to enter into and
      perform its obligations under this Agreement and to issue the Common Stock
      in
      accordance with the terms hereof, (ii) the execution, delivery and performance
      of this Agreement by the Company and the consummation by it of the transactions
      contemplated hereby have been duly authorized by all necessary corporate action,
      and no further consent or authorization of the Company or its Board of Directors
      or stockholders is required, and (iii) this Agreement constitutes valid and
      binding obligations of the Company enforceable against the Company in accordance
      with its terms, except as such enforceability may be limited by applicable
      bankruptcy, insolvency, fraudulent conveyance, moratorium, reorganization,
      or
      similar laws relating to, or affecting generally the enforcement of, creditors'
      rights and remedies or by equitable principles of general application and except
      as enforcement of rights to indemnity and contribution may be limited by federal
      and state securities laws or principles of public policy.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    3.4 No
      Conflicts.
      To the
      knowledge of the Company, the execution, delivery and performance of this
      Agreement and the consummation by the Company of the transactions 

    contemplated
      hereby do not materially (i) result in a violation of the Company's Certificate
      of Incorporation or By-Laws or (ii) conflict with, or constitute a default
      under
      any agreement, indenture or instrument to which the Company is a party. Other
      than any SEC or state securities filings which may be required to be made by
      the
      Company subsequent to the Closing, and any registration statement which may
      be
      filed pursuant thereto, the Company is not required under federal, state or
      local law, rule or regulation to obtain any consent, authorization or order
      of,
      or make any filing or registration with, any court or governmental agency or
      self-regulatory entity in order for it to perform any of its obligations under
      this Agreement or issue the Common Stock in accordance with the terms hereof.
      

    

    4. Legends;
      Denominations

    

    4.1 Legend.
      The
      Company will issue the shares of Common Stock, the Warrants, and when issued
      the
      Warrant Shares, purchased by the Subscriber in the name of the Subscriber and
      in
      such denominations to be specified by the Subscriber prior to the Closing.
      The
      Shares, the Warrants and Warrant Shares will bear the following Legend and
      appropriate "stop transfer" instructions:

    

    THESE
      SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT
      OF
      1933, AS AMENDED (THE “SECURITIES ACT”), AND THESE SECURITIES MAY NOT BE
      OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (A) PURSUANT TO AN
      EFFECTIVE REGISTRATION STATEMENT FILED UNDER THE SECURITIES ACT, (B) TO A
      NON-U.S. PERSON IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 903 OR RULE
      904 OF REGULATION S UNDER THE SECURITIES ACT, (C) PURSUANT TO THE RESALE
      LIMITATIONS SET FORTH IN RULE 905 OF REGULATIONS S UNDER THE SECURITIES ACT,
      (D)
      PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
      SECURITIES ACT (IF AVAILABLE) OR (E) PURSUANT TO ANY OTHER EXEMPTION FROM THE
      REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, IN EACH CASE IN ACCORDANCE
      WITH
      ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER
      JURISDICTION. HEDGING TRANSACTIONS INVOLVING THESE SECURITIES MAY NOT BE
      CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    4.2 Subscriber's
      Compliance.
      Nothing
      in this Section 4 shall affect in any way the Subscriber's obligations and
      agreement to comply with all applicable securities laws upon resale of the
      Units, and the Shares and Warrants underlying the Units.

    

    4.3 Company’s
      Refusal to Register Transfer of Units.
      The
      Company shall refuse to register any transfer of the Units, the shares of Common
      Stock and Warrants comprising the Units and the Warrant Shares, not made in
      accordance with (i) the provisions of Regulation S, (ii) pursuant to an
      effective registration statement filed under the Securities Act, or (iii)
      pursuant to an available exemption from the registration requirements of the
      Securities Act.

    

    5. Registration
      Rights.

     

    5.1 Demand
      Registration.
      At any
      time and from time to time on or after the date on which the Company has
      publicly announced that it has entered into a letter of intent or made a
      comparable announcement with respect to a Business Combination, the Subscriber
      or its transferee(s) holding a majority-in-interest of the Registrable
      Securities may make a written demand for registration under the Securities
      Act
      of all or part of their Registrable Securities (a “Demand
      Registration”).
      Any
      demand for a Demand Registration shall specify the number of Registrable
      Securities proposed to be sold and the intended method(s) of distribution
      thereof. The Company will notify all holders of Registrable Securities of the
      demand, and each holder of Registrable Securities who wishes to include all
      or a
      portion of such holder’s Registrable Securities in the Demand Registration (each
      such holder including shares of Registrable Securities in such registration,
      a
“Demanding
      Holder”)
      shall
      so notify the Company within fifteen (15) days after the receipt by the holder
      of the notice from the Company. Upon any such request, the Demanding Holders
      shall be entitled to have their Registrable Securities included in the Demand
      Registration. 

     

    The
      Company shall, as expeditiously as possible and in any event within sixty (60)
      days after receipt of a request for a Demand, prepare and file with the SEC
      a
      Registration Statement on any form for which the Company then qualifies or
      which
      counsel for the Company shall deem appropriate and which form shall be available
      for the sale of all Registrable Securities to be registered thereunder in
      accordance with the intended method(s) of distribution thereof, and shall use
      its best efforts to cause such Registration Statement to become effective as
      promptly as practicable, but in no event prior to the consummation of the
      Business Combination. 

     

    The
      Company shall not be obligated to effect more than two Demand Registrations
      in
      respect of Registrable Securities.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    5.2 “Piggyback”
      Registration Rights.
      Subject
      to the last sentence of this Section 5.2, at any time after a Business
      Combination, if the Company shall determine to proceed with the actual
      preparation and filing of a new registration statement under the Securities
      Act
      in connection with the proposed offer and sale of any of its securities by
      it or
      any of its security holders (other than a registration statement on Form S-4,
      S-8 or other limited purpose form), the Company will give written notice of
      its
      determination to the Subscriber or its nominee(s). Upon the written request
      from
      a majority-in-interest of the Subscribers, within 15 days after receipt of
      any
      such notice from the Company, the Company will, except as herein provided,
      cause
      all of the Registrable Securities covered by such request (the “Requested
      Stock”)
      held
      by the Subscribers making such request (the “Requesting
      Holders”)
      to be
      included in such registration statement (each, a “Piggy-Back
      Registration”),
      all
      to the extent requisite to permit the sale or other disposition by the
      prospective seller or sellers of the Requested Stock; provided, further, that
      nothing herein shall prevent the Company from, at any time, abandoning or
      delaying any registration. If any registration pursuant to this Section 5.2
      shall be underwritten in whole or in part, the Company may require that the
      Requested Stock be included in the underwriting on the same terms and conditions
      as the securities otherwise being sold through the underwriters. In such event,
      the Requesting Holders shall, if requested by the underwriters, execute an
      underwriting agreement containing customary representations and warranties
      by
      selling stockholders and a lock-up on Registrable Securities not being sold.
      If
      in the good faith judgment of the managing underwriter of such public offering
      the inclusion of all of the Requested Stock would reduce the number of shares
      to
      be offered by the Company or interfere with the successful marketing of the
      shares of stock offered by the Company, the number of shares of Requested Stock
      otherwise to be included in the underwritten public offering may be reduced
      pro
      rata (by number of shares) among the Requesting Holders and all other holders
      of
      registration rights who have requested inclusion of their securities or excluded
      in their entirety if so required by the underwriter. To the extent only a
      portion of the Requested Stock is included in the underwritten public offering,
      those shares of Requested Stock which are thus excluded from the underwritten
      public offering and any other securities of the Company held by such holders
      shall be withheld from the market by the Holders thereof for a period, not
      to
      exceed 90 days, which the managing underwriter reasonably determines is
      necessary in order to effect the underwritten public offering. At such time
      as
      the provisions of the registration rights agreement filed as an exhibit to
      the
      Registration Statement covering the shares of Common Stock acquired by the
      Subscribers prior to this Offering may be exercised, the exercise and procedural
      provisions of such agreement, rather than the provisions of Sections 5.2, 5.3
      and 5.4 hereof, shall govern the Registrable Securities with respect to
      Piggy-Back Registration.

     

    5.3 Registration
      Procedures.
      To the
      extent required by Sections 5.1 or 5.2, the Company will:

     

    (a) prepare
      and file with the SEC a registration statement with respect to such securities,
      and use its best efforts to cause such registration statement to become and
      remain effective until the earlier of the date on which all of the Registrable
      Securities included in the registration statement have been disposed of in
      accordance with the intended method(s) of distribution set forth in such
      Registration Statement or three years from the effective date;

     

    (b) prepare
      and file with the SEC such amendments to such registration statement and
      supplements to the prospectus contained therein as may be necessary to keep
      such
      registration statement effective until the earlier of the date on which all
      of
      the Registrable Securities included in the registration statement have been
      disposed of in accordance with the intended method(s) of distribution set forth
      in such Registration Statement or three years from the effective
      date;

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (c) furnish
      to the holders participating in such registration and to the underwriters of
      the
      securities being registered such reasonable number of copies of the registration
      statement, preliminary prospectus, final prospectus and such other documents
      as
      such underwriters may reasonably request in order to facilitate the public
      offering of such securities;

     

    (d) use
      its
      best efforts to register or qualify the securities covered by such registration
      statement under such state securities or blue sky laws of such jurisdictions
      as
      the holders may reasonably request in writing within 20 days following the
      original filing of such registration statement, except that the Company shall
      not for any purpose be required to execute a general consent to service of
      process or to qualify to do business as a foreign corporation in any
      jurisdiction wherein it is not so qualified;

     

    (e) notify
      the holders, promptly after it shall receive notice thereof, of the time when
      such registration statement has become effective or a supplement to any
      prospectus forming a part of such registration statement has been
      filed;

     

    (f) notify
      the holders promptly of any request by the SEC for the amending or supplementing
      of such registration statement or prospectus or for additional
      information;

     

    (g) prepare
      and promptly file with the SEC and promptly notify such holders of the filing
      of
      such amendment or supplement to such registration statement or prospectus as
      may
      be necessary to correct any statements or omissions if, at the time when a
      prospectus relating to such securities is required to be delivered under the
      Securities Act, any event shall have occurred as the result of which any such
      prospectus or any other prospectus as then in effect would include an untrue
      statement of a material fact or omit to state any material fact necessary to
      make the statements therein, in the light of the circumstances in which they
      were made, not misleading; and 

     

    

        (h) advise
          the holders, promptly after it shall receive notice or obtain knowledge
          thereof,
          of the issuance of any stop order by the SEC suspending the effectiveness
          of
          such registration statement or the initiation or threatening of any proceeding
          for that purpose and promptly use its best efforts to prevent the issuance
          of
          any stop order or to obtain its withdrawal if such stop order should be
          issued.

         

    

    The
      Purchasers shall cooperate with the Company in providing the information
      necessary to effect the registration of the Registrable Securities, including
      completion of customary questionnaires. 

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    5.4 Expenses.
      The
      Company shall bear all costs and expenses incurred in connection with any Demand
      Registration pursuant to Section 5.1, any Piggy-Back Registration pursuant
      to
      Section 5.2, and all expenses incurred in performing or complying with its
      other
      obligations under this Agreement, whether or not the Registration Statement
      becomes effective, including, without limitation: (i) all registration and
      filing fees; (ii) fees and expenses of compliance with securities or “blue sky”
laws (including fees and disbursements of counsel in connection with blue sky
      qualifications of the Registrable Securities); (iii) printing expenses; (iv)
      the
      Company’s internal expenses (including, without limitation, all salaries and
      expenses of its officers and employees); (v) the fees and expenses incurred
      in
      connection with the exchange listing of the Registrable Securities; (vi)
      National Association of Securities Dealers, Inc. fees; (vii) fees and
      disbursements of counsel for the Company and fees and expenses for independent
      certified public accountants retained by the Company (including the expenses
      or
      costs associated with the delivery of any opinions or comfort letters); (viii)
      the fees and expenses of any special experts retained by the Company in
      connection with such registration and (ix) the fees and expenses of one legal
      counsel selected by the holders of a majority-in-interest of the Registrable
      Securities included in such registration. The Company shall have no obligation
      to pay any underwriting discounts or selling commissions attributable to the
      Registrable Securities being sold by the holders thereof, which underwriting
      discounts or selling commissions shall be borne by such holders. Additionally,
      in an underwritten offering, all selling shareholders and the Company shall
      bear
      the expenses of the underwriter

    

    6. Lock-Up.

    

    The
      Subscriber, and his desgnees, shall not sell, assign, hypothecate, or transfer
      any of the Units, shares of Common Stock and Warrants comprising the Units,
      or
      Warrant Shares, until the earlier of the consummation of a Business Combination
      (as hereinafter defined) or liquidation of the Company,
      provided however,
      that no
      such sale, assignment, hypothecation or transfer may be effected unless, in
      each
      case, it is made in accordance with transfer restrictions set forth in
      Regulation S and the Securities Act. As used herein, 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
      with agreements to acquire an operating business in the energy industry selected
      by the Company

    

    7. Waiver
      of Liquidation Distributions.
      

    

    In
      connection with the Units purchased pursuant to this Agreement, the Subscribers
      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, in the event the Subscribers purchase
      shares of Common Stock in the IPO or in the aftermarket such shares shall be
      eligible to receive any liquidating distributions by the Company. .

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    8. Governing
      Law; Jurisdiction;
      Waiver
      of Jury Trial

    This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of New York. The parties hereto hereby waive any right to a jury trial
      in
      connection with any litigation pursuant to this Agreement and the transactions
      contemplated hereby.

    

    9. Assignment;
      Entire Agreement; Amendment

    

    9.1 Assignment.
      Neither
      this Agreement nor any rights hereunder may be assigned by any party to any
      other person other than by Subscriber to a person agreeing to be bound by the
      terms hereof. 

    

    9.2 Entire
      Agreement.
      This
      Subscription Agreement sets forth the entire agreement and understanding between
      the parties as to the subject matter thereof and merges and supersedes all
      prior
      discussions, agreements and understandings of any and every nature among
      them.

     

    9.3 Amendment.
      Except
      as expressly provided in this Agreement, neither this Agreement nor any term
      hereof may be amended, waived, discharged or terminated other than by a written
      instrument signed by the party against whom enforcement of any such amendment,
      waiver, discharge, or termination is sought.

    

    9.4 Binding
      Upon Successors.
      This
      Agreement shall be binding upon and inure to the benefit of the parties hereto
      and to their respective heirs, legal representatives, successors and assigns.
      

    

    10. Notices;
      Indemnity

    

    10.1 Notices.
      Unless
      otherwise provided herein, any notice or other communication to a party
      hereunder shall be sufficiently given if in writing and personally delivered
      or
      sent by facsimile with copy sent in another manner herein provided or sent
      by
      courier (which for all purposes of this Agreement shall include Federal Express
      or other recognized overnight courier) or mailed to said party by certified
      mail, return receipt requested, at its address provided for herein or such
      other
      address as either may designate for itself in such notice to the other and
      communications shall be deemed to have been received when delivered personally,
      on the scheduled arrival date when sent by next day or 2-day courier service,
      or
      if sent by facsimile upon receipt of confirmation of transmittal or, if sent
      by
      mail, then three days after deposit in the mail.

    

    10.2 Indemnification.
      Each
      party shall indemnify the other against any loss, cost or damages (including
      reasonable attorney's fees and expenses) incurred as a result of such party's
      breach of any representation, warranty, covenant or agreement in this
      Agreement.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    11. Counterparts

    

    This
      Agreement may be executed in any number of counterparts, each of which shall
      be
      enforceable against the parties actually executing such counterparts, and all
      of
      which together shall constitute one instrument.

    

    12. Survival;
      Severability

    

    12.1
      Survival.
      The
      representations, warranties, covenants and agreements of the parties hereto
      shall survive the Closing. 

    

      12.2
        Severability.
        In the
        event that any provision of this Agreement becomes or is declared by a court
        of
        competent jurisdiction to be illegal, unenforceable or void, this Agreement
        shall continue in full force and effect without said provision; provided
        that no
        such severability shall be effective if it materially changes the economic
        benefit of this Agreement to any party.

    

    13. Titles
      and Subtitles

    

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

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Name
      of
      the Subscriber: ___George
      Sagredos ____ 

    (Please
      print legibly)

     

    Number
      of
      Units Being Subscribed:___825,398  

    

    Aggregate
      Purchase Price:___US
      $8,253,980 

     

    Date
      of
      Subscription: January 2, 2006

    

    Place
      of
      Residency and/or Principal Place of Business:

    

    __Le
      Millefiori_____________

       
      1 Rue Des Gentets, Monaco_

    ______________________

    Telephone:
      _+
      37-79-996-1489__

    Fax:
      _______+37-793-501-245__

    

     

    
      This
        subscription is accepted by the Company on the 2nd day of January,
        2006.

    

     

     

    
 

    
      	 	 	 
	 	
              ENERGY
                INFRASTRUCTURE ACQUISITION CORP.

            
	 
 	 
 	 
 
	Date: 	By:  	/s/ Marios
              Pantazopoulos
	 	
              
Name:
              Marios Pantazopoulos
	 	
              Title:
                Chief Financial Officer

            

    

     

    
 

     

    
      SUBSCRIBER:

       

      /s/George
        Sagredos

       

      (Please
        sign here)

      

      ______George
        Sagredos____________

      (Please
        print your name here)

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          
AMENDMENT
          AGREEMENT 

      

      
        

        

        

        THIS
          AMENDMENT AGREEMENT (this “Amendment Agreement”) effective as of the ___ day of
          ____, 2006 between Energy Infrastructure Acquisition Corp. ( “Energy”) and
          George Sagredos (the “Subscriber”).

        

        WHEREAS,
          Energy and the Subscriber are parties to a Subscription Agreement effective
          as
          of January 2, 2006 (the “Subscription Agreement”); and 

        

        WHEREAS,
          on the date hereof, Energy will issue to the Subscriber the Convertible
          Promissory Note, in the aggregate principal amount of $3,675,000, which
          note
          shall be convertible into Units, (the “Convertible Promissory Note”) as defined
          in the note; and

        

        WHEREAS,
          Energy may, on or after the date hereof, issue to the Subscriber an additional
          convertible promissory note in the principal amount of up to $675,000 (together
          with the Convertible Promissory Note, the “Note”); and

        

        WHEREAS,
          the parties desire to amend the Subscription Agreement to include demand
          and
          piggy-back registration rights for the securities issuable upon conversion
          of
          the Note. 

        

        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. The
          definition of “Registrable Securities”, as used in the second paragraph of the
          preamble to the Subscription Agreement shall be amended as follows:

        

        “WHEREAS,
          the Subscriber is entitled to registration rights with respect to (i) the
          Units
          issuable pursuant to the Subscription Agreement, the Convertible Promissory
          Note
          dated as of the date hereof and an additional substantially identical promissory
          note that may be issued to the Subscriber after the date hereof (such notes
          being referred to herein collectively as the “Note”), (ii) all of the shares of
          Common Stock and the Warrants comprising the Units issuable pursuant to
          the
          Subscription Agreement and the Note, (iii) the shares of Common Stock issuable
          upon exercise of the Warrants (the “Warrant
          Shares”)
          pursuant to the Subscription Agreement and the Note, (iv) any warrants,
          shares
          of capital stock or other securities of the Company issued as a dividend
          or
          other distribution with respect to or in exchange for or in replacement
          of such
          shares of Common Stock and Warrants, issuable pursuant to the Subscription
          Agreement and the Note, and (v) such number of shares that may be used
          to
          prevent dilution resulting from stock splits, stock dividends or similar
          transactions (collectively, the “Registrable
          Securities”)
          on the
          terms set forth in this Subscription Agreement; and”

        

        2. Section
          1.2 shall be amended as follows:

        

        “Closing.
          The
          closing of the Offering (the “Closing”), shall take place at the offices of the
          Company, on the earlier of four days prior to the effective date of the
          Company’s proposed initial public offering of up to 22,500,000 units of Common
          Stock and warrants (the “IPO”), and December 31, 2006.”

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        3. Miscellaneous.
          Except
          as expressly amended by this Amendment Agreement, the Subscription Agreement
          remains in full force and effect.

        

        IN
          WITNESS WHEREOF, the parties hereto have caused this Amendment Agreement
          to be
          duly executed as of the day and year first above written.

         

         

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

                

        

        
 

        
          	 	 	 
	 	SUBSCRIBER:
	 
 	 
 	 
 
	 	 	 
	 	
                  

                  (Please
                    sign here)

                
	 	
                  George
                    Sagredos

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