Document:

AMENDMENT
NO. 1

    TO

    REGISTRATION
RIGHTS AGREEMENT

     

    This
Amendment No.1 to the Registration Rights Agreement (this “Amendment”) is made
and entered into as of December 16, 2010, by and among GSME Acquisition Partners
I., a Cayman Islands company (“GSME”), and the undersigned parties listed under
Investor on the signature page to this Amendment (the “Investors” and, together
with GSME, the “Parties”).

     

    RECITALS

     

    WHEREAS, the Parties entered
into a Registration Rights Agreement dated as of November 19, 2009 (the “Registration
Rights Agreement”);

     

    WHEREAS, the Parties wish to
clarify that certain rights granted to the Investors under the Registration
Rights Agreement do not conflict with rights subsequently granted by GSME to
certain of its shareholders (“New
Investors”) in connection with the consummation of that certain Amended
and Restated Agreement and Plan of Reorganization, dated as of September 13,
2010, as amended on December 9, 2010, among GSME, GSME Acquisition Partners I
Sub Limited, Plastec International Holdings Limited and the New
Investors;

     

    WHEREAS, pursuant to Section
6.7 of the Registration Rights Agreement, no amendment of the Registration
Rights Agreement will be effective unless in writing signed by Parent and the
Investors; and

     

    WHEREAS, the Parties wish to
amend the Registration Rights Agreement as set forth herein.

     

    NOW, THEREFORE, in
consideration of the foregoing premises and the mutual representations,
warranties and agreements set forth herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
Parties, intending to be legally bound, agree as follows:

     

    1.        
   Section 1 of the Registration Rights Agreement is hereby
amended by adding the following definitions:

     

    “New
Registrable Securities” means the Registrable Securities covered by the
New Registration Rights Agreement.

     

    “New
Registration Rights Agreement” means that certain Registration Rights
Agreement dated December 16, 2010 by and among the Company and the investors
identified therein.

     

    2.      
     Section 2.1.4 of the Registration Rights Agreement
is hereby amended by replacing it in its entirety with following:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Reduction of
Offering. If (x) 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 Ordinary Shares or other securities which the Company
desires to sell and the Ordinary Shares, 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 or (y)
the Staff of the Commission does not permit all of the Registrable Securities
requested by the Demanding Holders, taken together with all other Ordinary
Shares or other securities which the Company desires to sell and the Ordinary
Shares, 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, to be included in the Registration Statement filed
for a Demand Registration (the maximum dollar amount or maximum number of
shares, as applicable, that can be sold or registered in the Demand Registration
are referred to herein as 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 and the Ordinary Shares or other securities, if any,
comprised of New Registrable Securities as to which registration has been
requested pursuant to the applicable piggy-back rights contained in the New
Registration Rights Agreement (pro rata in accordance with the number of shares
which each such person has requested be included in such registration,
regardless of the number of shares held by each such person (such proportion,
“Pro Rata”))
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 Ordinary Shares 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 Ordinary Shares or other
securities registrable pursuant to the terms of the Unit Purchase Option to be
issued to Cohen & Company Securities, LLC (“Cohen & Company”)
or its designees in connection with the Company’s initial public offering on
November 25, 2009 (the “Unit Purchase Option”
and such registrable securities, the “Option Securities”)
as to which "piggy-back" registration has been requested by the holders thereof,
Pro Rata, that can be sold without exceeding the Maximum Number of Shares; (iv)
fourth, to the extent that the Maximum Number of Shares has not been reached
under the foregoing clauses (i),  (ii) and (iii), the Ordinary Shares
or other securities 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) fifth, to the extent that the Maximum Number of Shares have not been
reached under the foregoing clauses (i), (ii), (iii) and (iv), the Ordinary
Shares or other securities that other security holders desire to sell that can
be sold without exceeding the Maximum Number of Shares.

     

    3.     
      Section 2.2.2 of the Registration Rights
Agreement is hereby amended by replacing it in its entirety with the
following:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Reduction of
Offering. If (x) 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 Ordinary Shares which the Company desires to sell, taken
together with Ordinary Shares, 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
Ordinary Shares, 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, or (y) the Staff of the
Commission does not permit all of the Registrable Securities requested by the
Holders, taken together with all other Ordinary Shares or other securities which
the Company desires to sell and the Ordinary Shares, 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, to be included
in the Registration Statement filed for the Piggy-Back Registration, then the
Company shall include in any such registration:

     

    a)           If
the registration is undertaken for the Company’s account: (A) first, the
Ordinary Shares 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 Ordinary Shares or other securities, if any, comprised of
Registrable Securities, New Registrable Securities and Option Securities, as to
which registration has been requested pursuant to the applicable written
contractual piggy-back registration rights of such security holders, Pro Rata,
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 Ordinary Shares or other securities for the
account of other persons that the Company is obligated to register pursuant to
written contractual piggy-back registration rights with such persons and that
can be sold without exceeding the Maximum Number of Shares;

     

    b)           If
the registration is a “demand” registration undertaken at the demand of holders
of Option Securities, (A) first, the Ordinary Shares or other securities for the
account of the demanding persons, Pro Rata, 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 Ordinary
Shares or other securities that the Company desires to sell that can be sold
without exceeding the Maximum Number of Shares; (C) third, to the extent that
the Maximum Number of Shares has not been reached under the foregoing clauses
(A) and (B), the shares of Registrable Securities and New Registrable
Securities, Pro Rata, as to which registration has been requested pursuant to
the terms hereof or the New Registration Rights Agreement, as applicable, and
that can be sold without exceeding the Maximum Number of Shares; 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 Ordinary Shares or other securities for
the account of other persons that the Company is obligated to register pursuant
to written contractual arrangements with such persons, that can be sold without
exceeding the Maximum Number of Shares;

     

    c)           If
the registration is a “demand” registration pursuant to the New Registration
Rights Agreement, securities as provided therein; and

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    d)           If
the registration is a “demand” registration undertaken at the demand of persons
other than the holders of Registrable Securities, New Registrable Securities or
Option Securities, then (A) first, the Ordinary Shares or other securities for
the account of the demanding persons, Pro Rata, 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 Ordinary Shares or other securities that the Company desires to sell that
can be sold without exceeding the Maximum Number of Shares; (C) third, to the
extent that the Maximum Number of Shares has not been reached under the
foregoing clauses (A) and (B), collectively the Ordinary Shares or other
securities comprised of Registrable Securities, Option Securities and New
Registrable Securities, Pro Rata, as to which registration has been requested
pursuant to the terms hereof, of the Unit Purchase Option or of the New
Registration Rights Agreement, as applicable, that can be sold without exceeding
the Maximum Number of Shares; 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 Ordinary Shares or other securities for the account of other persons
that the Company is obligated to register pursuant to written contractual
arrangements with such persons, that can be sold without exceeding the Maximum
Number of Shares.

     

    [Signature page
follows]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN WITNESS WHEREOF, the
parties have caused this Amendment No. 1 to the Registration Rights Agreement to
be executed and delivered by their duly authorized representatives as of the
date first written above.

     

    
      
        
          
            
              
                	 
      	
                        GSME
      ACQUISITION PARTNERS I

                      
	 
      	 
      
	
                        By:

                      	 
      
	 
      	
                        Name:

                      
	 
      	
                        Title:

                      
	 
      	 
      
	 
      	
                        INVESTORS:

                      
	 
      	 
      
	 
      	
                        MCK
      CAPITAL CO., LIMITED

                      
	 
      	 
      
	
                        By:

                      	 
      
	 
      	
                        Jing
      Dong Gao

                      
	 
      	 
      
	 
      	 
      
	 
      	
                        Eli
      D. Scher

                      
	 
      	 
      
	 
      	 
      
	 
      	
                        Lawrence
      S.
WizelAMENDMENT
NO. 1 TO UNIT PURCHASE OPTIONS

     

    WHEREAS,
GSME Acquisition Partners I (the “Company”) wishes to clarify that certain
rights granted under those certain Unit Purchase Options (“Unit Purchase
Options”) issued to Cohen & Company Securities, LLC (“Cohen”) and its
designees do not conflict with rights subsequently granted by the Company to
certain of its shareholders (“New Investors”) in connection with the
consummation of that certain Amended and Restated Agreement and Plan of
Reorganization, dated as of September 13, 2010, as amended on December 9, 2010,
among GSME, GSME Acquisition Partners I Sub Limited, Plastec International
Holdings Limited and the New Investors;

     

    WHEREAS,
pursuant to Section 9.1 of the Unit Purchase Options, the Company and Cohen may
from time to time supplement or amend the Unit Purchase Options without the
approval of any of the holders in order to cure any ambiguity or to make any
other provisions in regard to matters or questions arising thereunder that the
Company and Cohen may deem necessary or desirable and that the Company and Cohen
deem shall not adversely affect the interest of the holders of such Unit
Purchase Options; and

     

    WHEREAS,
the Company and Cohen wish to amend the Unit Purchase Options as follows.

     

    NOW,
THEREFORE, in consideration of the foregoing premises and the mutual
representations, warranties and agreements set forth herein, and for other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto, intending to be legally bound, agree as
follows:

     

    1.            Section
5.2.1 is hereby amended by replacing it in its entirety with the
following:

     

    5.2.1
Grant of
Right.

     

    In
addition to the demand right of registration, the Holders of the Purchase
Options shall have the right for a period of seven (7) years commencing on the
Effective Date, to include the Registrable Securities as part of any other
registration of securities filed by the Company (other than in connection with a
transaction contemplated by Rule 145(a) promulgated under the Act or pursuant to
Form S-4 or Form S-8); provided, however, that if, (x) the managing underwriter
or underwriters, if any, for such offering advises the Company and the holder in
writing that the dollar amount or number of shares of Registrable Securities
which the holder desire(s) to sell, taken together with all other Ordinary
Shares or other securities which the Company desires to sell and the Ordinary
Shares, 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 or (y) the Staff of the Securities and Exchange
Commission does not permit all of the Registrable
Securities requested by the holders, taken together with all other Ordinary
Shares or other securities which the Company desires to sell and the Ordinary
Shares, 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, to be included in the Registration Statement (the
maximum dollar amount or maximum number of shares, as applicable, that can be
sold or registered are referred to herein as the “Maximum Amount”), then the
securities to be sold by the Company to all shareholders (including the holders
of Registrable Securities) in such public offering shall be included as
follows:

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (A)      If
the registration is a “demand” registration pursuant to the New Registration
Rights Agreement or the Existing Registration Rights Agreement (each as defined
below), securities as provided therein.

     

    (B)     
If the registration is a “demand” registration undertaken at the demand of
persons other than the holders of Registrable Securities, Existing Registrable
Securities (as defined in the New Registration Rights Agreement) or New
Registrable Securities (as defined in the Existing Registration Rights
Agreement) then:

     

    (w)           first,
the number of securities for the account of persons exercising a written
contractual arrangement to demand registration that can be sold without
exceeding the Maximum Amount and any other persons entitled to pro rata
registration alongside such persons pursuant to the terms of such contractual
arrangement;

     

    (x)            second,
to the extent that the Maximum Amount has not been reached under the foregoing
clause (w), the number of securities that the Company desires to sell that can
be sold without exceeding the Maximum Amount; and

     

    (y)            third,
to the extent that the Maximum Amount has not been reached under the foregoing
clauses (w) and (x) the number of securities (including the Registrable
Securities) as to which registration has been requested pursuant to written
contractual “piggy-back” registration rights of holders pursuant to this
Agreement and the holders of registrable securities pursuant to that certain
Registration Rights Agreement dated as of the 16 day of 2010 (“New Registration
Rights Agreement”) and that certain Registration Rights Agreement, dated as of
November 19, 2009, as amended as of the 16 day of 2010 (the “Existing
Registration Rights Agreement”) (pro rata between such holders in accordance
with the number of Ordinary Shares which each such selling shareholder has
actually requested to be included in such registration, regardless of the number
of Ordinary Shares with respect to which such holders have the right to request
such inclusion) that can be sold without exceeding the Maximum Amount;
and

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (z)            fourth,
to the extent that the Maximum Amount has not been reached under the foregoing
clauses (w), (x) and (y) the number of securities as to which registration has
been requested pursuant to written contractual “piggy-back” registration rights
of other selling shareholders, (pro rata between such selling shareholders in
accordance with the number of Ordinary Shares which each such selling
shareholder has actually requested to be included in such registration,
regardless of the number of Ordinary Shares with respect to such selling
shareholders have the right to request such inclusion) that can be sold without
exceeding the Maximum Amount.

     

    (C)      In
the event that the Company proposes to register its securities (in circumstances
other than by persons exercising a written contractual arrangement to demand
registration) in an underwritten offering subject to a Maximum Amount, then the
securities to be sold in such public offering shall be included as
follows:

     

    (x)            first,
the number of securities that the Company desires to sell that can be sold
without exceeding the Maximum Amount; and

     

    (y)           
second, to the extent that the Maximum Amount has not been reached under the
foregoing clause (x) the number of securities (including the Registrable
Securities) as to which registration has been requested pursuant to written
contractual “piggy-back” registration rights of holders pursuant to this
Agreement and the holders of registrable securities pursuant to the New
Registration Rights Agreement and the Existing Registration Rights Agreement
(pro rata between such holders in accordance with the number of Ordinary Shares
which each such selling shareholder has actually requested to be included in
such registration, regardless of the number of Ordinary Shares with respect to
which such holders have the right to request such inclusion) that can be sold
without exceeding the Maximum Amount; and

     

    (z)            
third, to the extent that the Maximum Amount has not been reached under the
foregoing clauses (x) and (y) the number of securities as to which registration
has been requested pursuant to written contractual “piggy-back” registration
rights of other selling shareholders, (pro rata between such selling
shareholders in accordance with the number of Ordinary Shares which each such
selling shareholder has actually requested to be included in such registration,
regardless of the number of Ordinary Shares with respect to which such selling
shareholders have the right to request such inclusion) that can be sold without
exceeding the Maximum Amount.

     

    [Signature
pages follows]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, the Company has caused this
Amendment No. 1 to the Unit Purchase Options to be signed by its duly authorized
officer as of December
16, 2010.

    

    
      
        
          
            
              
                	 
      	
                        GSME
      ACQUISITION PARTNERS I

                      
	 
      	 
	      
	
                        By:

                      	
                        

                      
	 
      	
                        Name:

                      
	 
      	
                        Title:

                      

              

            

          

          

          
            
              
                	
                        Agreed
      and accepted:

                      
	 
      
	
                        COHEN
      & COMPANY SECURITIES, LLC

                      
	 
      
	
                        By:

                      	
	 
      	
                        Name:

                      
	 
      	
                        Title:

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