Document:

Unassociated Document

    Exhibit
      10.7

    

    PROCUREMENT
      COOPERATION FRAME AGREEMENT

    

    

    Consignor:
      Changshu Huaye Steel Strip Co., Ltd. (“Party A”)

    Consignee:
      Shanghai Huaye Iron & Steel Group Co., Ltd. (“Party B”)

    

    Based
      on
      the friendly negotiation and mutual benefits, the Parties reach the following
      agreement concerning procurement cooperation between the Parties:

    

    
      	1.  	
              Party
                A agrees to entrust Party B to purchase source materials in the market
                and
                Party B agrees to accept such entrustment and promises to use its
                own
                purchase channels and personnel and try its best to purchase source
                materials at the lowest price and
                costs.

            

    

    

    
      	2.  	
              Party
                B may, under its own name, negotiate and execute relevant contracts
                with
                the clients, provided that major contract provisions such as the
                types,
                specifications, unit price of the purchased source materials shall
                be
                notified to and agreed by Party A before any final agreement is
                executed.

            

    

    

    
      	3.  	
              Party
                B shall make sure that the purchased materials be delivered directly
                to
                the location of Party A. The costs for the transportation shall be
                generally included in the total price of the purchased materials.
                If under
                some special circumstances, the transportation fees and costs shall
                be
                paid separately, such fees and costs shall be agreed upon by Party
                A in
                advance.

            

    

    

    
      	4.  	
              Upon
                the delivery of the purchased materials by Party B, the Parties shall
                enter into a separate detailed sales agreement based on the market
                conditions concerning the quality and price of the purchased
                materials.

            

    

    

    
      	5.  	
              The
                term of this Agreement is one year, starting from January 1, 2007
                and
                ending on December 31, 2007. This Agreement will be automatically
                terminated upon expiration. Where the Parties decide to continue
                the
                cooperation, a separate agreement shall be reached one month before
                the
                expiration of this Agreement.

            

    

    

    
      	6.  	
              For
                any issues that are not covered under this Agreement, the Parties
                may
                conduct further negotiation. Where such issues cannot be settled
                through
                negotiation, they shall be subject to the Contract Law of
                China.

            

    

    

    
      	7.  	
              This
                Agreement is made in two originals, with each party holding one.
                This
                Agreement shall take effective upon
                execution.

            

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	 	 
	
              Changshu
                Huaye Steel Strip Co., Ltd.

            	
              Shanghai
                Huaye Iron & Steel Group Co., Ltd.

            
	
              (Corporate
                Seal)

            	
              (Corporate
                Seal)

            
	Dated: December
              7,
              2006	Dated: December
              7,
              2006Unassociated Document

    Exhibit
      10.8

    

    SALES
      COOPERATION FRAME AGREEMENT

    

    

    Consignor:
      Changshu Huaye Steel Strip Co., Ltd. (“Party A”)

    Consignee:
      Shanghai Huaye Iron & Steel Group Co., Ltd. (“Party B”)

    

    Based
      on
      the friendly negotiation and mutual benefits, the Parties reach the following
      agreement concerning sales cooperation between the Parties:

    

    
      	1.  	
              Party
                A agrees to entrust Party B as its sales agent to sell the products
                manufactured by Party A.

            

    

    

    
      	2.  	
              Party
                B may, under its own name, negotiate and execute relevant contracts
                with
                the clients, provided that major contract provisions such as the
                types,
                specifications, unit price of the purchased source materials shall
                be
                notified to and agreed by Party A before any final agreement is executed.
                Party B shall be solely responsible for any failure of performing
                any
                sales contract executed by Party B without consent of Party
                A.

            

    

    

    
      	3.  	
              Entrusted
                products shall be delivered at the location of Party A. Where the
                products
                shall be delivered to the location of Party B, Party B shall be
                responsible for the transportation.

            

    

    

    
      	4.  	
              Party
                A shall deduct 5‰
                from the unit sales price of Party B when selling the products to
                Party B
                and the deducted 5‰
                is
                the commission to Party B. The detailed settlement and payment method
                shall be negotiated by the Parties upon delivery of products to Party
                B.

            

    

    

    
      	5.  	
              The
                term of this Agreement is one year, starting from January 1, 2007
                and
                ending on December 31, 2007. This Agreement will be automatically
                terminated upon expiry. Where the Parties decide to continue the
                cooperation, a separate agreement shall be reached one month before
                the
                expiry of this Agreement.

            

    

    

    
      	6.  	
              For
                any issues that are not covered under this Agreement, the Parties
                may
                conduct further negotiation. Where such issues cannot be settled
                through
                negotiation, they shall be subject to the Contract
                Law.

            

    

    

    
      	7.  	
              This
                Agreement is made in two originals, with each party holding one.
                This
                Agreement shall take effective upon
                execution.

            

    

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	 	 

    

     

     

     

    
      	
              Changshu
                Huaye Steel Strip Co., Ltd.

            	
              Shanghai
                Huaye Iron & Steel Group Co., Ltd.

            
	
              (Corporate
                Seal)

              Dated:
                December 7, 2006

            	
              (Corporate
                Seal)

              Dated:
                December 7, 2006Unassociated Document

    Exhibit
      10.9

    

    NOTIFICATION
      CONCERNING

    LICENSING
      THE BRAND NAME OF “HUAYE” TO 

    CHANGSHU
      HUAYE STEEL STRIP CO., LTD.

    

    

    

    Changshu
      Huaye Steel Strip Co., Ltd.:

    

    As
      a
      subsidiary of Shanghai Huaye Iron & Steel Group Co., Ltd., Changshu Huaye
      Steel Strip Co., Ltd. is a major iron manufacturer. In order to further develop
      the leading role of “Huaye” products and to expand the “H-Mart” iron
      supermarket, Shanghai Huaye Iron & Steel Group Co., Ltd. decides to use the
      brand name of “Huaye” within the entire group companies and hereby authorizes
      Changshu Huaye Steel Strip Co., Ltd. to use and maintain the brand name of
      “Huaye”.

    

    
 

    

    

    

    

    Shanghai
      Huaye Iron & Steel Group Co., Ltd.

    (Corporate
      Seal)

    

    August
      15, 2005Unassociated Document

    Exhibit
      10.10

     

    SUTOR
      STEEL TECHNOLOGY CO., LTD. 

     

    No
      8,
      Huaye Road, Dongbang Industrial Park 

    Changshu,
      People’s Republic of China, 215534

    (86)
      512-52686688

    

     

    December
      26, 2006

     

    By
      Hand Delivery

    

    Guoxiang
      Ni

    

    Dear
      Mr.
      Ni:

     

    The
      purpose of this letter agreement (the “Agreement”) is to confirm your employment
      arrangement with SUTOR
      STEEL TECHNOLOGY CO., LTD. (the
      “Company”), on the following terms and conditions:

     

    1. Duties.
      You
      will be employed as the Chief Executive Officer, subject to the supervision
      of
      the board of directors. Your duties will include,
      but
      not
      be limited to, developing and implementing the overall strategic direction
      of
      the Company and implementing the Company’s business plan as the most senior
      executive officer of the Company. You shall devote your entire business time,
      energies, attention and abilities to the business of Company unless otherwise
      authorized by the board of directors. During your employment by Company, you
      shall not engage in any activity or have any business interest which in any
      manner interferes with the proper performance of your duties, conflicts with
      the
      interest of Company or brings into disrepute the business reputation of
      Company.

     

    2. Salary.
      Your
      salary will be at a range of $100,000 to $200,000 per year, to be paid in
      monthly installments or otherwise in accordance with Company’s normal payroll
      practices.

     

    3. Bonus.
      You
      shall be eligible for a bonus, which will be payable in the sole discretion
      of
      Company based upon your performance and the Company’s performance during any
      year of your employment with the Company.

     

    4. Term
      of Employment.
      You
      will be an employee-at-will. This means that either you or Company may end
      your
      employment at any time, with or without cause, and with or without
      notice.

     

    5. Vacation.
      You
      shall be entitled to 24 paid vacation days. You may not take more than 35
      vacation days consecutively. Vacation days will not be carried over to future
      years of employment.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    6. Incentive
      and Other Plans.
      You
      will be entitled to participate in such pension, major medical, life insurance
      and other plans and benefit programs as may be made available from time to
      time
      to employees of Company having responsibilities comparable to yours and under
      the terms of which you are eligible to participate.

     

    7. Company
      Policies.
      You
      shall at all times be subject to and comply with policies, rules and procedures
      of Company then in effect, including without limitation with respect to hours
      of
      work, holidays, vacation and sick leave and pay, conflict of interest, improper
      payments, political contributions and payments to government
      officials.

     

    8. Patents.
      You
      hereby assign to Company all rights to any inventions, techniques, processes,
      concepts, ideas, programs, source codes, formulae, research and development
      and
      marketing plans, whether or not patentable or copyrightable, made, conceived
      or
      reduced to practice by you during the course of your employment by
      Company.

     

    9. Covenants.
      During
      your employment by Company and at all times thereafter, you shall not (a)
      disrupt, disparage, impair or interfere with the business of Company or (b)
      disclose to anyone else, directly or indirectly, any proprietary or business
      sensitive information concerning the business of Company or use, or permit
      or
      assist, by acquiescence or otherwise, anyone else to use, directly or
      indirectly, any such information. Such information shall include all information
      to the extent not generally known to the public which, if released to
      unauthorized persons, could be detrimental to the reputation or business
      interests of Company or parties with which Company contracts or which would
      permit such person to benefit improperly.

     

    10. Company
      Property.
      Upon
      termination of your employment for any reason, you shall promptly deliver to
      Company all property belonging to Company and shall not retain any copies of
      any
      correspondence, reports, lists or other documents relating in any way to the
      affairs of Company or its clients.

     

    11. Non-Solicitation.
      During
      the term of your employment by Company and for a period of twelve months
      following the termination of your employment, whether voluntary or involuntary,
      you shall not, directly or indirectly:

     

    (a) solicit
      customers or business patronage which results in competition with the business
      of Company or any of its affiliates, or

     

    (b) approach
      or attempt to induce any person who is then in the employ of Company to leave
      the employ of Company or employ or attempt to employ any person who was in
      the
      employ of Company at any time during the prior twelve months.

     

    12. Notices. All
      notices hereunder shall be to the parties’ addresses set forth above for the
      Company and on the Signature Page for you, in writing and given by registered
      or
      certified mail, return receipt requested, postage and registration fees prepaid,
      and shall be deemed given when so mailed. The addresses set forth herein may
      be
      changed by notice given in the manner set forth in this Section.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    13. Miscellaneous.
      This
      Agreement (a) shall be governed by, and construed in accordance with, the laws
      of the British Virgin Islands, without regard for the conflict of laws
      principles thereof, (b) shall inure to the benefit of, and shall be binding
      upon, the parties hereto and their respective heirs, legal representatives
      and
      assigns, (c) may not be changed orally but only by an agreement in writing
      signed by the party against whom any waiver, change, amendment, notification
      or
      discharge is sought, and (d) contains the entire agreement between the parties
      hereto with respect to the subject matter hereof and supersedes all prior
      agreements, oral or written, between the parties hereto. The invalidity of
      all
      or any part of any section of this Agreement shall not render invalid the
      remainder of this Agreement. If any provision of this Agreement is so broad
      as
      to be unenforceable, such provision shall be interpreted to be only so broad
      as
      is enforceable.

     

    Very
      truly yours,

     

    SUTOR
      STEEL TECHNOLOGY CO., LTD. 

    By:/s/
      Lifang Chen

    Name:
      Lifang Chen

    Title:
      Chairman

    

     

    ACCEPTED
      AND AGREED TO 

    AS
      OF THE
      DATE FIRST ABOVE

    WRITTEN:

    

    

    /s/Guoxiang
      Ni                                         
   

    Guoxiang
      Ni

    

    Address:
      

    

    c/o
      Sutor
      Steel Technology Co., Ltd.

    No
      8,
      Huaye Road 

    Dongbang
      Industrial Park 

    Changshu,
      China, 215534

    

    
      
        
        

      

      
        3

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