Subscription Agreement between OCM/GFI Power Opportunities Fund, L.P. and InfraSource Services, Inc. dated January 27, 2004
This agreement is between OCM/GFI Power Opportunities Fund, L.P. and InfraSource Services, Inc. The Fund agrees to purchase 135,430 shares of InfraSource's common stock at $100 per share, totaling $13,543,000. An initial payment of $9,000,000 has been made, with the remaining $4,543,000 to be paid after the Fund receives back $5,000,000 it posted as collateral for a letter of credit benefiting Maslonka & Associates, Inc. Both parties have signed to confirm their commitments.
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Exhibit 10.17
SUBSCRIPTION AGREEMENT
January 27, 2004
InfraSource Services, Inc.
500 West Dutton Mill Road
Aston, PA 19014
Attention: Terence R. Montgomery, Chief Financial Officer
The undersigned, OCM/GFI Power Opportunities Fund, L.P., a Delaware limited partnership (the "Fund"), hereby agrees to subscribe for and purchase 135,430 shares of common stock, par value $0.001 per share (the "Common Stock"), of InfraSource Services, Inc., a Delaware corporation (the "Corporation"), at a price of $100 per share, for an aggregate purchase price of $13,543,000 as provided herein. The Corporation hereby acknowledges receipt of payment in the amount of $9,000,000 toward such purchase. The Fund shall purchase the remaining $4,543,000 of Common Stock upon the return to the Fund of the $5,000,000 the Fund posted as collateral in connection with the letter of credit secured by the Fund for the benefit of Maslonka & Associates, Inc.
| OCM/GFI Power Opportunities Fund, L.P. | ||||
By: | GFI Energy Ventures LLC, its Co-General Partner | |||
By: | /s/ IAN SCHAPIRO | |||
| Name: | Ian Schapiro | |||
| Title: | Principal | |||
| Acknowledged By: | ||||
InfraSource Services, Inc. | ||||
By: | /s/ TERENCE R. MONTGOMERY | |||
| Name: | Terence R. Montgomery | |||
| Title: | Chief Financial Officer | |||
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