Exhibit 10.22

AMENDMENT NO. 8

AMENDMENT NO. 8, dated as of February 9, 2006 (this “Amendment”), 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 a Credit Agreement, dated as
of December 21, 2000 (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. 8,
terms defined in the Credit Agreement are used herein as defined therein.

Section 2. Amendment. Subject to the occurrence of the Amendment Effective Date
and effective on such date, the Credit Agreement shall be amended as follows:

2.01       Section 1.01 of the Credit Agreement shall be amended by inserting
the following definition in the appropriate alphabetical sequence:

“Bridge Promissory Note” shall mean the promissory note, dated as of February 8,
2006, pursuant to which the Company promises to pay to the order of Chase the
aggregate principal amount of $5,000,000.

2.02       Section 8.07 of the Credit Agreement shall be amended by (a) deleting
the word “and” at the end of clause (c) therein; (b) deleting the “.” at the end
of clause (d) therein and replacing it with “; and”; and (c) inserting the
following clause (e) at the end thereof:

“(e)        Indebtedness under the Bridge Promissory Note in an aggregate
principal amount not to exceed $5,000,000.”       

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 the
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. 8, 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 February 8, 2006 (the “Amendment Effective Date”), upon (i) the execution of
this Amendment No. 8 by the Company, each of the Required Banks and the Agent
and (ii) the payment by the Company of all fees and expenses due and owing on
such date.

Section 5. Miscellaneous. Except as herein provided, the Credit Agreement shall
remain unchanged and in full force and effect. This Amendment No. 8 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. 8 by signing any such counterpart. This Amendment
No. 8 shall be governed by, and construed in accordance with, the law of the
State of New York.

 

-2-

 

--------------------------------------------------------------------------------

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 8 to be
duly executed and delivered as of the day and year first above written.

  EMPIRE RESOURCES, INC.           By: /s/ Sandra R. Kahn        Name: Sandra R.
Kahn
   Title: Vice President  

 

--------------------------------------------------------------------------------

 

  JPMORGAN CHASE BANK, N.A.,
as Agent           By: /s/ Thomas S. Drake        Name: Thomas S. Drake
   Title: Vice President  

 

 

--------------------------------------------------------------------------------

 

  BROWN BROTHERS HARRIMAN & CO.           By: /s/ Paul Feldman        Name: Paul
Feldman
   Title: Senior Vice President  

 

--------------------------------------------------------------------------------

 

 

  CITICORP USA, INC.           By: /s/ Keith Pallmann        Name: Keith
Pallmann
   Title: Vice President  

 

--------------------------------------------------------------------------------

 

 

  JPMORGAN CHASE BANK, N.A.           By: /s/ Thomas S. Drake        Name:
Thomas S. Drake
   Title: Vice President  

 

--------------------------------------------------------------------------------

 

  COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A., “RABOBANK
INTERNATIONAL”, NEW YORK BRANCH           By: /s/ Rebecca O. Morrow        Name:
Rebecca O. Morrow
   Title: Executive Director  

              By: /s/ Eva Rushkevich        Name: Eva Rushkevich
   Title: Executive Director  

 

--------------------------------------------------------------------------------