Document:

Unassociated Document

    

    
      
        	 
      	
                ____________
      ___, 2009

              

      

    

    

    GSME
Acquisition Partners I

    762 West
Beijing Road

    Shanghai,
PRC 200041

    

    Cohen
& Company Securities, LLC

    135 East
57th
Street

    New York,
New York 10022

    

    
      	
               
      

            	
              Re:

            	
              Initial Public
      Offering

            

    

    

    Gentlemen:

    

    The undersigned shareholder, officer
and director of GSME Acquisition Partners I (“Company”), in consideration of
Cohen & Company Securities, LLC (“Cohen & Company”) entering into a
letter of intent (“Letter of Intent”) to underwrite an initial public offering
of the securities of the Company (“IPO”) and embarking on the IPO process,
hereby agrees as follows (certain capitalized terms used herein are defined in
paragraph 14 hereof):

    

    1.           If
the Company solicits approval of its shareholders of a Business Combination, the
undersigned will vote all Insider Shares beneficially owned by him in accordance
with the majority of the votes cast by the holders of the IPO
Shares.

    

    2.           In
the event that the Company fails to consummate a Business Combination within 12
months from the consummation of the IPO, or within 18 months from the
consummation of the IPO if certain criteria are met, as more fully described in
the registration statement relating to the IPO, the undersigned will (i) cause
the Trust Account (as defined in the Letter of Intent) to be liquidated and
distributed to the holders of IPO Shares and (ii) take all reasonable actions
within his power to cause the Company to liquidate as soon as reasonably
practicable.  The undersigned hereby waives any and all right, title,
interest or claim of any kind in or to any distribution of the Trust Account and
any remaining net assets of the Company as a result of such liquidation with
respect to his Insider Shares (“Claim”) and hereby waives any Claim the
undersigned may have in the future as a result of, or arising out of, any
contracts or agreements with the Company and will not seek recourse against the
Trust Account for any reason whatsoever. In the event of the liquidation of the
Trust Account (other than immediately prior to the consummation of Business
Combination), the undersigned agrees to indemnify and hold harmless the Company
against any and all loss, liability, claims, damage and expense whatsoever
(including, but not limited to, any and all legal or other expenses reasonably
incurred in investigating, preparing or defending against any litigation,
whether pending or threatened, or any claim whatsoever) to which the Company may
become subject as a result of any claim by any vendor or other person who is
owed money by the Company for services rendered to the Company in excess of the
net proceeds of the IPO not held in trust or contracted for or products sold, or
by any target business, but only to the extent necessary to ensure that such
loss, liability, claim, damage or expense does not reduce the amount in the
Trust Account below $10.00 per share.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    GSME
Acquisition Partners I

    Cohen
& Company Securities, LLC

    ____________
___, 2009

    Page
2

    

    3.           In
order to minimize potential conflicts of interest which may arise from multiple
affiliations, the undersigned agrees to present to the Company for its
consideration, prior to presentation to any other person or entity, any suitable
opportunity to acquire an operating business, until the earlier of the
consummation by the Company of a Business Combination, the liquidation of the
Company and such time as the undersigned ceases to be an officer or director of
the Company, subject to any pre-existing fiduciary and contractual obligations
the undersigned might have.

    

    4.           The
undersigned acknowledges and agrees that the Company will not consummate any
Business Combination with an entity (i) which the Company’s officers or
directors, through their other business activities, had acquisition or
investment discussions in the past, (ii) which is, or has been within the past
five years, affiliated with any of the Insiders or their affiliates, including
an entity that is either a portfolio company of, or has otherwise received a
material financial investment from, any private equity fund or investment
company (or an affiliate thereof) that is affiliated with such individuals; or
(iii) where the Company acquires less than 100% of such entity and any of the
Insiders or their affiliates acquire the remaining portion of such target
business, unless, in any case, the Company obtains an opinion from an
independent investment banking firm reasonably acceptable to Cohen & Company
that the business combination is fair to the Company’s shareholders from a
financial perspective.

    

    5.           Neither
the undersigned, any member of the family of the undersigned, nor any affiliate
(“Affiliate”) of the undersigned will be entitled to receive and will not accept
any compensation for services rendered to the Company prior to or in connection
with the consummation of the Business Combination; provided that the undersigned
shall be entitled to reimbursement from the Company for their out-of-pocket
expenses incurred in connection with seeking and consummating a Business
Combination.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    GSME
Acquisition Partners I

    Cohen
& Company Securities, LLC

    ____________
___, 2009

    Page
3

    

    6.           Neither
the undersigned, any member of the family of the undersigned, nor any Affiliate
of the undersigned will be entitled to receive or accept a finder’s fee or any
other compensation in the event the undersigned, any member of the family of the
undersigned or any Affiliate of the undersigned originates a Business
Combination.

    

    7.           On
the Effective Date, the undersigned will escrow the Insider Shares beneficially
held him pursuant to the terms of a Stock Escrow Agreement which the Company
will enter into with the undersigned and an escrow agent acceptable to the
Company.

    

    8.           The
undersigned agrees to be the Chairman of the Board of the Company until the
earlier of the consummation by the Company of a Business Combination and the
liquidation of the Company.  The undersigned’s biographical
information furnished to the Company and Cohen & Company and attached hereto
as Exhibit A is true and accurate in all respects, does not omit any material
information with respect to the undersigned’s background and contains all of the
information required to be disclosed pursuant to Item 401 of Regulation S-K,
promulgated under the Securities Act of 1933, as amended.  The
undersigned’s Questionnaire furnished to the Company and EBC and annexed as
Exhibit B hereto is true and accurate in all respects.  The
undersigned represents and warrants that:

    

    (a)           he
is not subject to, or a respondent in, any legal action for, any injunction,
cease-and-desist order or order or stipulation to desist or refrain from any act
or practice relating to the offering of securities in any
jurisdiction;

    

    (b)           he
has never been convicted of or pleaded guilty to any crime (i) involving any
fraud or (ii) relating to any financial transaction or handling of funds of
another person, or (iii) pertaining to any dealings in any securities and he is
not currently a defendant in any such criminal proceeding; and

    

    (c)           he
has never been suspended or expelled from membership in any securities or
commodities exchange or association or had a securities or commodities license
or registration denied, suspended or revoked.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    GSME
Acquisition Partners I

    Cohen
& Company Securities, LLC

    ____________
___, 2009

    Page
4

    

    9.           The
undersigned has full right and power, without violating any agreement by which
he is bound, to enter into this letter agreement and to serve as Chairman of the
Board of the Company.

    

    10.         The
undersigned hereby waives his right to exercise conversion rights or appraisal
rights with respect to any Ordinary Shares of the Company owned or to be owned
by the undersigned, directly or indirectly, and agrees that he will not seek
conversion or appraisal with respect to such shares in connection with any vote
to approve a Business Combination.

    

    11.         The
undersigned hereby agrees to not propose, or vote in favor of, an amendment to
the Company’s Memorandum and Articles of Association to extend the period of
time in which the Company must consummate a Business Combination prior to its
liquidation. Should such a proposal be put before shareholders other than
through actions by the undersigned, the undersigned hereby agrees to vote
against such proposal.

    

    12.         In
the event that the Company does not consummate a Business Combination and must
liquidate, and its remaining net assets are insufficient to complete such
liquidation, the undersigned agrees to advance such funds necessary to complete
such liquidation and agrees not to seek repayment for such
expenses.

    

    13.         This
letter agreement shall be governed by and construed and enforced in accordance
with the laws of the State of New York, without giving effect to conflicts of
law principles that would result in the application of the substantive laws of
another jurisdiction.  The undersigned hereby (i) agrees that any
action, proceeding or claim against him arising out of or relating in any way to
this letter agreement (a “Proceeding”) shall be brought and enforced in the
courts of the State of New York of the United States of America for the Southern
District of New York, and irrevocably submits to such jurisdiction, which
jurisdiction shall be exclusive, (ii) waives any objection to such exclusive
jurisdiction and that such courts represent an inconvenient forum and (iii)
irrevocably agrees to appoint Graubard Miller as agent for the service of
process in the State of New York to receive, for the undersigned and on his
behalf, service of process in any Proceeding.  If for any reason such
agent is unable to act as such, the undersigned will promptly notify the Company
and Cohen & Company and appoint a substitute agent acceptable to each of the
Company and Cohen & Company within 30 days and nothing in this letter will
affect the right of either party to serve process in any other manner permitted
by law.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    GSME
Acquisition Partners I

    Cohen
& Company Securities, LLC

    ____________
___, 2009

    Page
5

    

    14.           As
used herein, (i) a “Business Combination” shall mean a merger, capital stock
exchange, asset acquisition or other similar business combination with an
operating business; (ii) “Insiders” shall mean all officers, directors and
shareholders of the Company immediately prior to the IPO; (iii) “Insider Shares”
shall mean all of the Ordinary Shares of the Company acquired by an Insider
prior to the IPO; (iv) “Insider Warrants” means the warrants being sold
privately by the Company to certain of the Insiders; and (v) “IPO Shares” shall
mean the Ordinary Shares issued in the Company’s IPO.

    

    
      
        
          	 
      	
                  Jing Dong Gao

                
	 
      	
                  Print
      Name of Insider

                
	 
      	 
      
	 
      	 
      
	 
      	
                  SignatureINVESTMENT
MANAGEMENT TRUST AGREEMENT

    

    This Agreement is made as of
___________, 2009 by and between GSME Acquisition Partners I (the “Company”) its
principal office located at 762 West Beijing Road, Shanghai, PRC 200041 and
Continental Stock Transfer & Trust Company (“Trustee”) located at 17 Battery
Place, New York, New York 10004.

    

    WHEREAS, the Company’s registration
statement on Form F-1, No. 333-______ (“Registration Statement”), for its
initial public offering of securities (“IPO”) has been declared effective as of
the date hereof (“Effective Date”) by the Securities and Exchange Commission
(capitalized terms used herein and not otherwise defined shall have the meanings
set forth in the Registration Statement); and

    

    WHEREAS, Cohen & Company
Securities, LLC (“Cohen & Company”) is acting as the representative of the
underwriters in the IPO; and

    

    WHEREAS, as described in the
Registration Statement, and in accordance with the Company’s Amended and
Restated Memorandum and Articles of Association, $36,000,000 of the gross
proceeds of the IPO and sale of the Insider Warrants (as defined in the
Registration Statement) ($41,400,000 if the underwriters over-allotment option
is exercised in full) will be delivered to the Trustee to be deposited and held
in a trust account for the benefit of the Company and the holders of the
Company’s ordinary shares, par value $.001 per share, issued in the IPO as
hereinafter provided (the amount to be delivered to the Trustee will be referred
to herein as the “Property”; the shareholders for whose benefit the Trustee
shall hold the Property will be referred to as the “Public Shareholders,” and
the Public Shareholders and the Company will be referred to together as the
“Beneficiaries”); and

    

    WHEREAS, the Company and the Trustee
desire to enter into this Agreement to set forth the terms and conditions
pursuant to which the Trustee shall hold the Property;

    

    IT IS AGREED:

    

    1.           Agreements and Covenants of
Trustee.  The Trustee hereby agrees and covenants
to:

    

    (a)       
    Hold the Property in trust for the Beneficiaries in
accordance with the terms of this Agreement in a segregated trust account
(“Trust Account”) established by the Trustee at J. P. Morgan Chase Bank N.A. and
at an office of ___________ selected by the Company;

    

    (b)         
  Manage, supervise and administer the Trust Account subject to the
terms and conditions set forth herein;

    
      
         

      

      
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    (c)
           In a timely
manner, upon the instruction of the Company, to invest and reinvest the Property
in United States “government securities” within the meaning of Section 2(a)(16)
of the Investment Company Act of 1940 having a maturity of 180 days or less,
and/or in any open ended investment company registered under the Investment
Company Act of 1940 that holds itself out as a money market fund selected by the
Company meeting the conditions of paragraphs (c)(2), (c)(3) and (c)(4) of Rule
2a-7 promulgated under the Investment Company Act of 1940, as determined by the
Company;

    

    (d) 
          Collect and receive,
when due, all principal and income arising from the Property, which shall become
part of the “Property,” as such term is used herein;

    

    (e)   
        Notify the Company of all
communications received by it with respect to any Property requiring action by
the Company;

    

    (f)     
       Supply any necessary information or
documents as may be requested by the Company in connection with the Company’s
preparation of its tax returns;

    

    (g)     
      Participate in any plan or proceeding for
protecting or enforcing any right or interest arising from the Property if, as
and when instructed by the Company to do so; and

    

    (h)       
    Commence liquidation of the Trust Account only after and
promptly after receipt of, and only in accordance with, the terms of a letter
(“Termination Letter”), in a form substantially similar to that attached hereto
as either Exhibit A or Exhibit B hereto, signed on behalf of the Company by its
Chief Executive Officer, President or Chairman of the Board and Secretary or
Assistant Secretary, and complete the liquidation of the Trust Account and
distribute the Property in the Trust Account only as directed in the Termination
Letter and the other documents referred to therein; provided, however, that in
the event that a Termination Letter has not been received by the Trustee by the
12-month anniversary of the closing (“Closing”) of the IPO (“First Date”), or
the 18-month anniversary of the Closing (“Last Date”) in the event that a letter
of intent, memorandum of understanding  or definitive agreement for a
Business Combination has been executed on or prior to the First Date but the
Business Combination has not been consummated by the First Date, the Trust
Account shall be liquidated in accordance with the procedures set forth in the
Termination Letter attached as Exhibit B hereto and distributed to the
shareholders of record on the Last Date.  The provisions of this
Section 1(h) may not be modified, amended or deleted under any
circumstances.

    

    2.           Limited Distributions of
Income from Trust Account.

    
      
         

      

      
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    (a)          
 Upon written request from the Company, which may be given from time to
time in a form substantially similar to that attached hereto as Exhibit C, the
Trustee shall distribute to the Company the amount requested by the Company to
cover any income tax obligation owed by the Company;

    

    (b)       
    Upon written request from the Company, which may be
given from time to time in a form substantially similar to that attached hereto
as Exhibit D, the Trustee shall distribute to the Company the amount requested
by the Company to cover expenses related to investigating and selecting a target
business and other working capital requirements; provided, however, that the
Company will not be allowed to withdraw interest income earned on the trust
account unless there is sufficient funds available to pay the Company’s tax
obligations on such interest income or otherwise then due at that time;
and

    

    (c)          
 The limited distributions referred to in Sections 2(a) and 2(b) above
shall be made only from income collected on the Property.  Except as
provided in Section 2(a) and 2(b) above, no other distributions from the Trust
Account shall be permitted except in accordance with Section 1(h)
hereof.

    

    (d)      
     In all cases, the Company shall provide Cohen
& Company with a copy of any Termination Letters and/or any other
correspondence that it issues to the Trustee with respect to any proposed
withdrawal from the Trust Account promptly after such issuance.

    

    3.           Agreements and Covenants of
the Company.  The Company hereby agrees and covenants
to:

    

    (a)          
 Give all instructions to the Trustee hereunder in writing, signed by the
Company’s Chairman of the Board or Chief Executive Officer.  In
addition, except with respect to its duties under paragraphs 1(h), 2(a) and 2(b)
above, the Trustee shall be entitled to rely on, and shall be protected in
relying on, any verbal or telephonic advice or instruction which it in good
faith believes to be given by any one of the persons authorized above to give
written instructions, provided that the Company shall promptly confirm such
instructions in writing;

    
      
         

      

      
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    (b)     
      Hold the Trustee harmless and indemnify the
Trustee from and against, any and all expenses, including reasonable counsel
fees and disbursements, or loss suffered by the Trustee in connection with any
action, suit or other proceeding brought against the Trustee involving any
claim, or in connection with any claim or demand which in any way arises out of
or relates to this Agreement, the services of the Trustee hereunder, or the
Property or any income earned from investment of the Property, except for
expenses and losses resulting from the Trustee's gross negligence or willful
misconduct.  Promptly after the receipt by the Trustee of notice of
demand or claim or the commencement of any action, suit or proceeding, pursuant
to which the Trustee intends to seek indemnification under this paragraph, it
shall notify the Company in writing of such claim (hereinafter referred to as
the “Indemnified Claim”).  The Trustee shall have the right to conduct
and manage the defense against such Indemnified Claim, provided, that the
Trustee shall obtain the consent of the Company with respect to the selection of
counsel, which consent shall not be unreasonably withheld.  The
Trustee may not agree to settle any Indemnified Claim without the prior written
consent of the Company, which consent shall not be unreasonably
withheld.  The Company may participate in such action with its own
counsel;

    

    (c)    
       Pay the Trustee an initial acceptance
fee, an annual fee and a transaction processing fee for each disbursement made
pursuant to Sections 2(a) and 2(b) as set forth on Schedule A hereto, which fees
shall be subject to modification by the parties from time to time.  It
is expressly understood that the Property shall not be used to pay such fees and
further agreed that said transaction processing fees shall be deducted by the
Trustee from the disbursements made to the Company pursuant to Section
2(b).  The Company shall pay the Trustee the initial acceptance fee
and first year’s fee at the consummation of the IPO and thereafter on the
anniversary of the Effective Date;

    

    (d)         
  In connection with any vote of the Company’s shareholders regarding
a Business Combination, provide to the Trustee an affidavit or certificate of a
firm regularly engaged in the business of soliciting proxies and/or tabulating
shareholder votes (which firm may be the Trustee) verifying the vote of the
Company’s shareholders regarding such Business Combination; and

    

    (e)        
   In connection with the Trustee acting as Paying/Disbursing
Agent pursuant to Exhibit B, the Company will not give the Trustee disbursement
instructions which would be prohibited under this Agreement.

    

    4.           Limitations of
Liability.  The Trustee shall have no responsibility or
liability to:

    

    (a)     
      Take any action with respect to the
Property, other than as directed in paragraphs 1 and 2 hereof and the Trustee
shall have no liability to any party except for liability arising out of its own
gross negligence or willful misconduct;

    

    (b)     
      Institute any proceeding for the collection
of any principal and income arising from, or institute, appear in or defend any
proceeding of any kind with respect to, any of the Property unless and until it
shall have received instructions from the Company given as provided herein to do
so and the Company shall have advanced or guaranteed to it funds sufficient to
pay any expenses incident thereto;

    

    (c)      
     Change the investment of any Property, other than
in compliance with paragraph 1(c);

    
      
         

      

      
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    (d)       
    Refund any depreciation in principal of any
Property;

    

    (e)     
      Assume that the authority of any person
designated by the Company to give instructions hereunder shall not be continuing
unless provided otherwise in such designation, or unless the Company shall have
delivered a written revocation of such authority to the Trustee;

    

    (f)         
  The other parties hereto or to anyone else for any action taken or
omitted by it, or any action suffered by it to be taken or omitted, in good
faith and in the exercise of its own best judgment, except for its gross
negligence or willful misconduct.  The Trustee may rely conclusively
and shall be protected in acting upon any order, notice, demand, certificate,
opinion or advice of counsel (including counsel chosen by the Trustee),
statement, instrument, report or other paper or document (not only as to its due
execution and the validity and effectiveness of its provisions, but also as to
the truth and acceptability of any information therein contained) which is
believed by the Trustee, in good faith, to be genuine and to be signed or
presented by the proper person or persons.  The Trustee shall not be
bound by any notice or demand, or any waiver, modification, termination or
rescission of this Agreement or any of the terms hereof, unless evidenced by a
written instrument delivered to the Trustee signed by the proper party or
parties and, if the duties or rights of the Trustee are affected, unless it
shall give its prior written consent thereto;

    

    (g)       
    Verify the correctness of the information set forth in
the Registration Statement or to confirm or assure that any acquisition made by
the Company or any other action taken by it is as contemplated by the
Registration Statement; and

    

    (h)     
      File local, state and/or Federal tax returns
or information returns with any taxing authority on behalf of the Trust Account
and payee statements with the Company documenting the taxes, if any, payable by
the Company or the Trust Account, relating to the income earned on the
Property.

    

    (i)         
   Pay any taxes on behalf of the Trust Account (it being
expressly understood that the Property shall not be used to pay any such taxes
and that such taxes, if any, shall be paid by the Company from funds not held in
the Trust Account).

    

    (j)         
   Imply obligations, perform duties, inquire or otherwise be
subject to the provisions of any agreement or document other than this agreement
and that which is expressly set forth herein.

    

    (j)         
   Verify calculations, qualify or otherwise approve Company
requests for distributions pursuant to Section 1(h), 2(a) or 2(b)
above.

    

    5.           Termination.  This
Agreement shall terminate as follows:

    
      
         

      

      
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    (a)      
     If the Trustee gives written notice to the Company
that it desires to resign under this Agreement, the Company shall use its
reasonable efforts to locate a successor trustee.  At such time that
the Company notifies the Trustee that a successor trustee has been appointed by
the Company and has agreed to become subject to the terms of this Agreement, the
Trustee shall transfer the management of the Trust Account to the successor
trustee, including but not limited to the transfer of copies of the reports and
statements relating to the Trust Account, whereupon this Agreement shall
terminate; provided, however, that, in the event that the Company does not
locate a successor trustee within ninety days of receipt of the resignation
notice from the Trustee, the Trustee may submit an application to have the
Property deposited with any court in the State of New York or with the United
States District Court for the Southern District of New York and upon such
deposit, the Trustee shall be immune from any liability whatsoever;
or

    

    (b)       
    At such time that the Trustee has completed the
liquidation of the Trust Account in accordance with the provisions of paragraph
1(h) hereof, and distributed the Property in accordance with the provisions of
the Termination Letter, this Agreement shall terminate except with respect to
Paragraph 3(b).

    

    5.           Miscellaneous.

    

    (a)      
     The Company and the Trustee each acknowledge that
the Trustee will follow the security procedures set forth below with respect to
funds transferred from the Trust Account.  The Company and the Trustee
will each restrict access to confidential information relating to such security
procedures to authorized persons.  Each party must notify the other
party immediately if it has reason to believe unauthorized persons may have
obtained access to such information, or of any change in its authorized
personnel.  In executing funds transfers, the Trustee will rely upon
all information supplied to it by the Company, including, account names, account
numbers, and all other identifying information relating to a beneficiary,
beneficiary’s bank or intermediary bank. The Trustee shall not be liable for any
loss, liability or expense resulting from any error in the information or
transmission of the wire.

    

    (b)      
     This Agreement shall be governed by and construed
and enforced in accordance with the laws of the State of New York, without
giving effect to conflicts of law principles that would result in the
application of the substantive laws of another jurisdiction.  It may
be executed in several original or facsimile counterparts, each one of which
shall constitute an original, and together shall constitute but one
instrument.

    

    (c)       
    This Agreement contains the entire agreement and
understanding of the parties hereto with respect to the subject matter
hereof.  Except for Section 1(h) (which may not be amended under any
circumstances), this Agreement or any provision hereof may only be changed,
amended or modified by a writing signed by each of the parties hereto; provided,
however, that no such change, amendment or modification may be made without the
prior written consent of Cohen & Company.  As to any claim,
cross-claim or counterclaim in any way relating to this Agreement, each party
waives the right to trial by jury.

    
      
         

      

      
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    (d)     
      The parties hereto consent to the
jurisdiction and venue of any state or federal court located in the City of New
York, Borough of Manhattan, for purposes of resolving any disputes
hereunder.

    

    (e)       
    Any notice, consent or request to be given in connection
with any of the terms or provisions of this Agreement shall be in writing and
shall be sent by express mail or similar private courier service, by certified
mail (return receipt requested), by hand delivery or by facsimile
transmission:

    

    if to the Trustee, to:

    

    
      
        	
                Continental
      Stock Transfer

              
	
                &
      Trust Company

              
	
                17
      Battery Place

              
	
                New
      York, New York 10004

              
	
                Attn:  Steven
      G. Nelson, Chairman, and Frank A. DiPaolo, CFO

              
	
                Fax
      No.:  (212)
509-5150

              

      

    

    

    if to the Company, to:

    

    
      
        	
                GSME
      Acquisition Partners I

              
	
                762
      West Beijing Road

              
	
                Shanghai,
      PRC 200041

              
	
                Attn:  Eli
      D. Scher, Chief Executive Officer

              
	
                Fax
      No.:  (___)
___-____

              

      

    

    

    in either case with a copy
to:

    

    
      
        	
                Cohen
      & Company Securities, LLC

              
	
                135
      East 57th
      Street

              
	
                New
      York, New York 10022

              
	
                Attn:  ______________,
      Chairman

              
	
                Fax
      No.:  (___)
___-____

              

      

    

    

    (f)       
    This Agreement may not be assigned by the Trustee
without the prior consent of the Company.

    
      
         

      

      
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    (g)         
  Each of the Trustee and the Company hereby represents that it has
the full right and power and has been duly authorized to enter into this
Agreement and to perform its respective obligations as contemplated
hereunder.  The Trustee acknowledges and agrees that it shall not make
any claims or proceed against the Trust Account, including by way of set-off,
and shall not be entitled to any funds in the Trust Account under any
circumstance. In the event that the Trustee has a claim against the Company
under this Agreement, the Trustee will pursue such claim solely against the
Company and not against the Property held in the Trust Account.

    

    (h)       
    Each of the Company and the Trustee hereby acknowledge
that Cohen & Company is a third party beneficiary of this
Agreement.

    
      
         

      

      
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    IN WITNESS WHEREOF, the parties have
duly executed this Investment Management Trust Agreement as of the date first
written above.

    

    
      
        
          
            
              
                	
                        CONTINENTAL
      STOCK TRANSFER & TRUST 

                        COMPANY,
      as Trustee

                      
	 	 
	

                        By:

                      	
                         

                      
	
                         Name:

                      
	
                         Title:

                      
	 
      
	
                        GSME
      ACQUISITION PARTNERS
I

                      

              

            

          

        

      

    

    

    
      
        
          
            
              	

                      By:
      

                    	
                       

                    
	
                       Name:

                    
	
                       Title:

                    

            

          

        

      

    

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    SCHEDULE
A

    

    
      
        
          
            
              
                
                  
                    
                      	
                              Fee Item

                            	 	
                              Time and method of payment 

                            	 	
                              Amount

                            	 
	
                              Initial
      acceptance fee

                            	 	
                              Initial
      closing of IPO by wire transfer

                            	 	$	1,000	 
	
                              Annual
      fee

                            	 	
                              First
      year, initial closing of IPO by wire transfer; thereafter on the
      anniversary of the effective date of the IPO by wire transfer or
      check

                            	 	$	3,000	 
	
                              Transaction
      processing fee for disbursements to Company under Section
2

                            	 	
                              Deduction
      by Trustee from accumulated income following disbursement made to Company
      under Section 2

                            	 	$	250	 

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    EXHIBIT
A

    

    [Letterhead
of Company]

    

     
[Insert date]

    

    Continental
Stock Transfer

    &
Trust Company

    17
Battery Place

    New York,
New York 10004

    Attn:  Steven
Nelson

    

    Re:       Trust Account
No.     -           Termination
Letter

    

    Gentlemen:

    

    Pursuant to paragraph 1(h) of the
Investment Management Trust Agreement between GSME Acquisition Partners I
(“Company”) and Continental Stock Transfer & Trust Company (“Trustee”),
dated as of _________, 2009 (“Trust Agreement”), this is to advise you that the
Company has entered into an agreement (“Business Agreement”) with
__________________ (“Target Business”) to consummate a business combination with
Target Business (“Business Combination”) on or about [insert date].  The
Company shall notify you at least 48 hours in advance of the actual date of the
consummation of the Business Combination (“Consummation Date”).

    

    In accordance with the terms of the
Trust Agreement, we hereby authorize you to commence liquidation of the Trust
Account to the effect that, on the Consummation Date, all of funds held in the
Trust Account will be immediately available for transfer to the account or
accounts that the Company shall direct on the Consummation Date.

    

    On the Consummation Date (i) counsel
for the Company shall deliver to you written notification that the Business
Combination has been consummated and (ii) the Company shall deliver to you (a)
[an affidavit] [a certificate] of __________________, which verifies the vote of
the Company’s stockholders in connection with the Business Combination and (b)
written instructions with respect to the transfer of the funds held in the Trust
Account (“Instruction Letter”).  You are hereby directed and
authorized to transfer the funds held in the Trust Account immediately upon your
receipt of the counsel's letter and the Instruction Letter, in accordance with
the terms of the Instruction Letter.  In the event that certain
deposits held in the Trust Account may not be liquidated by the Consummation
Date without penalty, you will notify the Company of the same and the Company
shall direct you as to whether such funds should remain in the Trust Account and
distributed after the Consummation Date to the Company.  Upon the
distribution of all the funds in the Trust Account pursuant to the terms hereof,
the Trust Agreement shall be terminated.

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    

    In the event that the Business
Combination is not consummated on the Consummation Date described in the notice
thereof and we have not notified you on or before the original Consummation Date
of a new Consummation Date, then upon receipt by the Trustee of written
instructions from the Company, the funds held in the Trust Account shall be
reinvested as provided in the Trust Agreement on the business day immediately
following the Consummation Date as set forth in the notice.

    

    
      
        
          
            	 
      	
                    Very
      truly yours,

                  
	 
      	 
      
	 
      	
                    GSME
      ACQUISITION PARTNERS I

                  
	 
      	 
      
	 
      	
                    By:

                  	
                      

                  
	 
      	 
      	
                    Jing
      Dong Gao, Chairman of the Board

                  
	 
      	 
      
	 
      	
                    By:

                  	
                      

                  
	 
      	 
      	
                    Eli
      D. Scher,
Secretary

                  

          

        

      

    

    

    cc: Cohen
& Company Securities, LLC

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    EXHIBIT
B

    

    [Letterhead
of Company]

    

     
[Insert date]

    Continental
Stock Transfer

    &
Trust Company

    17
Battery Place

    New York,
New York 10004

    Attn:

    

    Re:       Trust Account
No.    -       Termination
Letter

    

    Gentlemen:

    

    Pursuant to paragraph 1(h) of the
Investment Management Trust Agreement between GSME Acquisition Partners I
(“Company”) and Continental Stock Transfer & Trust Company (“Trustee”),
dated as of ________, 2009 (“Trust Agreement”), this is to advise you that the
Company has been unable to effect a Business Combination with a Target Company
within the time frame specified in the Company’s Memorandum and Articles of
Association, as described in the Company’s prospectus relating to its
IPO.

    

    In accordance with the terms of the
Trust Agreement, we hereby authorize you, to commence liquidation of the Trust
Account as promptly as practicable to stockholders of record on the Last Date
(as defined in the Trust Agreement).  You will notify the Company in
writing as to when all of the funds in the Trust Account will be available for
immediate transfer (“Transfer Date”) in accordance with the terms of the Trust
Agreement and the Memorandum and Articles of Association of the
Company.  You shall commence distribution of such funds in accordance
with the terms of the Trust Agreement and the written instructions from the
Company attached hereto directing distribution of the funds held in the Trust
Account and you shall oversee the distribution of such funds.  Upon
the distribution of all the funds in the Trust Account, your obligations under
the Trust Agreement shall be terminated.

    

    
      
        
          
            
              	 
      	
                      Very
      truly yours,

                    
	 
      	 
      
	 
      	
                      GSME
      ACQUISITION PARTNERS I

                    
	 
      	 
      
	 
      	
                      By:

                    	 
      
	 
      	 
      	
                      Jing
      Dong Gao, Chairman of the Board

                    
	 
      	 
      
	 
      	
                      By:

                    	 
      
	 
      	 
      	
                      Eli
      D. Scher,
Secretary

                    

            

          

        

      

    

    

    cc: Cohen
& Company Securities, LLC

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    EXHIBIT
C

    

    

    [Letterhead
of Company]

    

     
[Insert date]

    

    Continental
Stock Transfer

    &
Trust Company

    17
Battery Place

    New York,
New York 10004

    Attn:  Steven
Nelson

    

    Re:       Trust Account
No.

    

    Gentlemen:

    

    Pursuant to paragraph 2(a) of the
Investment Management Trust Agreement between GSME Acquisition Partners I
(“Company”) and Continental Stock Transfer & Trust Company (“Trustee”),
dated as of ___________, 2009 (“Trust Agreement”), the Company hereby requests
that you deliver to the Company $_______ of the income earned on the Property as
of the date hereof.  The Company needs such funds to pay for the tax
obligations as set forth on the attached tax return or tax
statement.  In accordance with the terms of the Trust Agreement, you
are hereby directed and authorized to transfer (via wire transfer) such funds
promptly upon your receipt of this letter to the Company’s operating account
at:

    

    [WIRE
INSTRUCTION INFORMATION]

    

    
      
        
          
            
              	 
      	
                      GSME
      ACQUISITION PARTNERS I

                    
	 
      	 
      
	 
      	
                      By:

                    	 
      
	 
      	 
      	
                      Jing
      Dong Gao, Chairman of the Board

                    
	 
      	 
      
	 
      	
                      By:

                    	 
      
	 
      	 
      	
                      Eli
      D. Scher,
Secretary

                    

            

          

        

      

    

    

    cc: Cohen
& Company Securities, LLC

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    EXHIBIT
D

     

    [Letterhead
of Company]

    

     
[Insert date]

    

    Continental
Stock Transfer

    &
Trust Company

    17
Battery Place

    New York,
New York 10004

    Attn:  Steven
Nelson

    

    Re:       Trust Account
No.

    

    Gentlemen:

    

    Pursuant to paragraph 2(b) of the
Investment Management Trust Agreement between GSME Acquisition Partners I
(“Company”) and Continental Stock Transfer & Trust Company (“Trustee”),
dated as of __________, 2009 (“Trust Agreement”), the Company hereby requests
that you deliver to the Company $_______ of the income earned on the Property as
of the date hereof, which does not exceed, in the aggregate with all such prior
disbursements pursuant to paragraph 2(b), if any, the maximum amount set forth
in paragraph 2(b).  The Company needs such funds to cover its expenses
relating to investigating and selecting a target business and other working
capital requirements.  In accordance with the terms of the Trust
Agreement, you are hereby directed and authorized to transfer (via wire
transfer) such funds promptly upon your receipt of this letter to the Company’s
operating account at:

    

    [WIRE
INSTRUCTION INFORMATION]

    

    
      
        
          
            	 
      	
                    Very
      truly yours,

                  
	 
      	 
      
	 
      	
                    GSME
      ACQUISITION PARTNERS I

                  
	 
      	 
      
	 
      	
                    By:

                  	 
      
	 
      	 
      	
                    Jing
      Dong Gao, Chairman of the Board

                  
	 
      	 
      
	 
      	
                    By:

                  	 
      
	 
      	 
      	
                    Eli
      D. Scher,
Secretary

                  

          

        

      

    

    

    cc: Cohen
& Company Securities, LLC

    
      
         

      

      
        15

        
          

        

      

      
         

      

    

    EXHIBIT
E

    

    
      
        
          	
                  AUTHORIZED
      INDIVIDUAL(S)

                	
                  AUTHORIZED

                
	
                  FOR TELEPHONE CALL BACK

                	
                  TELEPHONE
  NUMBER(S)

                

        

      

    

    

    Company:

    

    
      
        	
                GSME
      Acquisition Partners I

              	 
      
	
                762
      West Beijing Road

              	 
      
	
                Shanghai,
      PRC 200041

              	 
      
	
                Attn:  Jing
      Dong Gao, Chairman

              	
                (86)
      21-6271-6777

              

      

    

    

    Trustee:

    

    
      
        	
                Continental
      Stock Transfer

              	 
      
	
                  &
      Trust Company

              	 
      
	
                17
      Battery Place

              	 
      
	
                New
      York, New York 10004

              	 
      
	
                Attn:  Steven
      G. Nelson, Chairman

              	
                (212)
      845-3200

              

      

    

    
      
         

      

      
        16

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