Exhibit 10.26
 
AMENDMENT NO. 2
 
AMENDMENT NO. 2, dated as of September 28, 2007, among EMPIRE RESOURCES, INC., a
corporation duly organized and validly existing under the laws of the State of
Delaware (the “Company”); each of the lenders that is a signatory hereto
(individually, a “Bank” and, collectively, the “Banks”); and JPMORGAN CHASE
BANK, N.A., as agent for the Banks (in such capacity, together with its
successors in such capacity, the “Agent”).
 
The Company, the Banks and the Agent are parties to an Amended and Restated
Credit Agreement, dated as of June 13, 2006 (as heretofore modified and
supplemented and in effect on the date hereof, the “Credit Agreement”),
providing, subject to the terms and conditions thereof, for extensions of credit
to be made by said Banks to the Company.  The Company, the Banks and the Agent
now wish to amend the Credit Agreement in certain respects and, accordingly, the
parties hereto hereby agree as follows:
 
Section 1.  Definitions.  Except as otherwise defined in this Amendment No. 2,
terms defined in the Credit Agreement are used herein as defined therein.
 
Section 2.  Amendments.  Subject to the occurrence of the Amendment Effective
Date and effective on such date, the Credit Agreement shall be amended as
follows:
 
2.01.  New Definitions.  Section 1.01 of the Credit Agreement (Definitions)
shall be amended by inserting the following definition in the appropriate
alphabetical sequence:
 
“Amendment No. 2” shall mean Amendment No. 2 to this Credit Agreement, dated as
of September 28, 2007 among the Company, the Banks party thereto and the Agent.
 
2.02.  Imbali Matters.  Clause (b)(y) of Section 8.18 shall be amended in its
entirety to read as follows:
 
“(y)           by no later than December 15, 2007, cause Imbali Metals Bvba to
purchase for cash all inventory in excess of €2,000,000 then held by it on
consignment for the Company (and upon such purchase the Agent’s Lien on such
inventory so purchased shall terminate).”
 
Section 3.  Representations and Warranties.  The Company represents and warrants
to the Banks as of the Amendment Effective Date that (x) the representations and
warranties set forth in Section 7 of the Credit Agreement and in Article III of
the Amended and Restated Security Agreement are true and complete on the date
hereof as if made on and as of the date hereof and as if each reference in said
Section 7 to “this Agreement” included reference to this Amendment No. 2 except
(i) changes resulting from transactions contemplated by or permitted by the
Credit Agreement, and (ii) those applicable to a specific date or period and (y)
no Default has occurred and is continuing.
 
Section 4.  Conditions Precedent.  As provided in Section 2 above, the
amendments to the Credit Agreement set forth in said Section 2 shall become
effective, as of September 28, 2007 (the “Amendment Effective Date”), upon the
satisfaction of the following conditions:
 
(a)           the execution of this Amendment No. 2 by the Company, the Required
Banks and the Agent, and
 
(b)           the delivery by the Company of board of director resolutions
approving this Amendment No. 2 and the transactions contemplated herein, in form
and substance satisfactory to the Agent.
 
           Section 5.  Miscellaneous.  Except as herein provided, the Credit
Agreement shall remain unchanged and in full force and effect.  This Amendment
No. 2 may be executed in any number of counterparts, all of which taken together
shall constitute one and the same amendatory instrument and any of the parties
hereto may execute this Amendment No. 2 by signing any such counterpart.  This
Amendment No. 2 shall be governed by, and construed in accordance with, the law
of the State of New York.
 
IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 2 to be
duly executed and delivered as of the day and year first above written.
 
EMPIRE RESOURCES, INC.
 
 
By: /s/ Sandra R. Kahn

 
 
Sandra R. Kahn

 
 
Vice President

 

 
 
 

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BANKS

 
JPMORGAN CHASE BANK, N.A.
 

 
 
By /s/ Camille B. LeFevre

 
 
Camille B. LeFevre

 
 
Vice President

 
 
Lending Office for all Loans:

 
 
JPMorgan Chase Bank, N.A.

 
 
270 Park Avenue

 
 
New York, New York 10017

 
 
Address for Notices:

 
 
JPMorgan Chase Bank, N.A.

 
 
1166 Avenue of the Americas, 21st Floor

 
 
New York, New York  10036

 
 
Attention:  Camille B. LeFevre

 
 
Facsimile No.: (212) 899-2911

 
 
Telephone No.: (212) 899-1382

 
 
Email: camille.lefevre@jpmchase.com

 

 

 
 
 

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BANKS

 
                                                      BROWN BROTHERS HARRIMAN &
CO.
 

 
By /s/ Michael L. Vellucci
 
     Name:  Michael L. Vellucci
 
     Title:  Vice President
 
 
Lending Office for all Loans:

 
140 Broadway

 
New York, NY 10005

 
Address for Notices:

 
140 Broadway

 
New York, NY 10005

 
Attention:  Michael Vellucci

 
 
Facsimile No.: 212-493-8998

 
 
Telephone No.: 212-493-8538

 
 
Email: michael.vellucci@bbh.com

 

 
 
 

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BANKS

 
                                                      CITICORP USA, INC.
 

 
By /s/ Keith Pallman
 
     Name:  Keith Pallmann
 
     Title:  Vice President
 
 
Lending Office for all Loans:

 
Global Wealth Management

 
    666 5th Avenue – 7th Floor

 
New York, New York 10103

 
Address for Notices:

 
Global Wealth Management

 
    666 5th Avenue – 7th Floor

 
New York, New York 10103

 
Attention:  Keith Pallmann

 
 
Facsimile No.: 212-793-4813

 
 
Telephone No.: 212-559-0804

 
 
Email: keith.pallmann@citi.com

 

 
 
 

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BANKS

 
                                                      COOPERATIEVE CENTRALE
RAIFFEISEN-BOERENLEENBANK B.A., “RABOBANK
INTERNATIONAL”, NEW YORK BRANCH
 

 
By_________________________
 
     Name:  Eva Rushkevich
 
     Title:  Executive Director
 
By_________________________
 
     Name:
 
     Title:
 
 
Lending Office for all Loans:

 
245 Park Avenue

 
New York, New York 10167

 
Address for Notices:

 
245 Park Avenue

 
New York, New York 10167

 
Attention:  Eva Rushkevich

 
 
Facsimile No.: 212-916-3731

 
 
Telephone No.: 212-916-3711

 
 
Email: eva.rushkevich@rabobank.com

 

 
 
 

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BANKS

 
                                                      FORTIS CAPITAL CORP.
 

 
By /s/ Kimberly Oates
 
     Name:  Kimberly Oates
 
     Title:  Director
 
By /s/ Michiel V. M. Van Der Voort
 
     Name:  Michiel V. M. Van Der Voort
 
     Title:  Managing Director
 
 
Lending Office for all Loans:

 
520 Madison Avenue

 
New York, New York 10022

 
Address for Notices:

 
520 Madison Avenue

 
New York, New York 10022

 
Attention:  Kimberly Oates

 
 
Facsimile No.: 212-340-5340

 
 
Telephone No.: 212-340-5349

 
 
Email: kimberly.oates@us.fortis.com

 
 

 
 
 

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JPMORGAN CHASE BANK, N.A., as Agent and as the Swing Line Bank

 
 
By /s/ Camille B. LeFevre

 
 
Camille B. LeFevre

 
 
Vice President

 
 
Address for Notices:

 
 
JPMorgan Chase Bank, N.A.

 
 
1166 Avenue of the Americas, 21st Floor

 
 
New York, New York  10036

 
 
Attention:  Camille B. LeFevre

 
 
Facsimile No.: (212) 899-2911

 
 
Telephone No.: (212) 899-1382

 
 
Email: camille.lefevre@jpmchase.com