Document:

Exhibit
10.1

      

      DEBT
REPAYMENT AGREEMENT

      

      Party A:
General Steel Holdings, Inc.

             Maoming
Hengda Steel Group Ltd.

       

      Party B:
Guangzhou Hengda Industrial Group Ltd.

      Ms. Ding
Yumei

      

      Party A
and Party B hereby enter into this agreement whereby Party A issues common
shares of General Steel Holdings, Inc. (NYSE: GSI) to Party B as partial
repayment of the debt owed by Party A to Party B:

      

      1. Definitions.

      

      (1) The
term “share issuance” refers to the issuance of 928,163 shares of the
common stock of General Steel Holdings, Inc. stipulated under Clause
2.

       

      (2)
“Issued shares” refers to the 928,163 shares of the
common stock of General Steel Holdings, Inc. Party A issues to Party B under
this agreement.

      

      2. Share
Issuance.

      

      (1) Party
A, under this agreement, will issue 928,163 shares of
common stock of General Steel Holdings, Inc. to Ms. Ding Yumei, along with the
corresponding rights and interests of shareholders, to partially repay debt owed
by Maoming Hengda Steel Group Ltd. and General Steel Holdings Inc.  to Guangzhou Hengda
Industrial Group, Ltd.;

      

      (2)  Ms. Ding
Yumei agrees to receive the above mentioned shares, and accepts
corresponding rights and obligations when the transaction is
completed.

      

      (3)  After
the share issuance, the value of the shares will offset an equivalent value
of the debt owed by Party A to Party B.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
 

      (4) On
the share issuance date (date shares are issued), the Bank of China posted mid
price RMB exchange rate to US dollar shall be used for conversion.

      

      3. Share Price Confirmation
Method. Party A issues 928,163 shares
of the common stock of General Steel Holdings, Inc. at the price of $7.00 per share, for a
total of $6,497,141.

      

      4. Dispute Settlement.
Any dispute raising from the performance of this agreement or related to this
agreement shall be settled through friendly consultation. If the two parties
cannot arrive at a settlement, the case should be submitted to the local
People’s court at Party  B’s location.

      

      5. This
agreement will be binding to the two parties hereof as of the effective date.
The rights and obligations under the agreement will maintain unchanged
unless agreed to in writing by both parties.

      

      6. This
agreement will be effective after being stamped with the official seals of the
two companies and signed by the legal representatives or the authorized
representatives of the two parties.

      

      7. This
Agreement is executed in four copies. Party A and Party B each holds two copies
and each copy has the same legal effect.

      

      

      [Signature
Page Follows]

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

       

      
 

      
        	
                Party
      A (official seal )

              	 
      	
                Party
      B (official seal)

              
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                  

              	 
      	 
      
	
                Representative
      (signature)

              	 
      	
                Representative
      (signature)

              
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                /s/ John Chen

              	 
      	
                /s/ Yijun Wang

              
	
                John
      Chen

              	 
      	
                Yijun
      Wang

              
	
                General
      Steel Holdings, Inc.

              	 
      	
                Guangzhou
      Hengda Industrial Group Ltd.

              
	
                Chief
      Financial Officer

              	 
      	 
      
	 
      	 
      	 
      
	
                June
      7, 2010

              	 
      	
                June
      7, 2010Exhibit
10.1

    Share
Purchase Agreement

    

    This
Share Purchase Agreement (the “Agreement”) is made and entered into by and
between the following parties on June 3, 2010 in Xi’an, the PRC (the People’s
Republic of China, excluding Hong Kong, Macao and Taiwan):

    

    Party A:
Xi’an Tech Full Simo Motor Co., Ltd.

    Address:
No.159 Ming Guang Road, Economy & Technology Development Zone,
Xi’an

    

    Party B:
Zhejiang Ximen Punching Co., Ltd.

    Address:
Yazhi Village, Shengzhou City, Shaoxing City, Zhejiang Province.

    

    Party A
is referred hereinafter to as the “Purchaser”, and Party B is referred
hereinafter to as the “Seller”.

    

    Whereas:

    

    
      	
              1.

            	
              Xi’an
      Tech Full Simo Lamination Co., Ltd.(the “Target
      Company”)is a limited
      liability company incorporated and validly existing under the PRC laws.
      Its registration number is 610100100048691, registered address is No.9
      Dong Zhan Road, Xin Cheng Qu, Xi’an, and registered business scope is
      manufacture, making, selling and service of motors and motor fittings;
      selling of metal material(excluding be prohibited); mechanical
      making.

            

    

    

    
      	
              2.

            	
              The
      Purchaser and the Seller are all the shareholders of the Target Company.
      Party A and Party B are limited liability companies established and
      validly existing under the PRC laws. Each holding 58.31%, 41.69% equity
      interest of Target Company,
respectively.

            

    

    

    
      	
              3.

            	
              The
      Seller is willing to sell all of the equity interest held by it in the
      Target Company (the “Target Equity”) to the Purchaser and the Purchaser is
      willing to buy the Target Equity (the
  “Transaction”).

            

    

    

    Therefore,
according to the principle of equality and through discussion, the parties
hereof agree to enter into the following provisions:

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	
              1.

            	
              Purchase
      of Share

            

    

    

    
      	
               
      

            	
              1.1

            	
              The
      Seller agrees to sell the Target Equity to the Purchaser and the Purchaser
      agrees to purchase the Target Equity held by the Seller in accordance with
      the provisions and conditions of the
Agreement.

            

    

    

    
      	
               
      

            	
              1.2

            	
              The
      Purchaser will be entitled to all the rights and interests related to the
      Target Equity since the effectiveness of the Agreement, including but not
      limited to the right to dividends, the right to elect directors and
      supervisors. While the Seller shall not be entitled to any rights and
      interests related to the Target Equity since effectiveness of the
      Agreement, except otherwise provided for in the
  Agreement.

            

    

    

    
      	
              2.

            	
              Price
      of Purchase and its Payment

            

    

    

    
      	
               
      

            	
              2.1

            	
              Except
      otherwise provided for in the Agreement, as the consideration of purchase
      of the Target Equity, the Purchaser shall pay RMB 179 million to Party B
      within 40 days after the signing of the
  Agreement.

            

    

    

    
      	
               
      

            	
              2.2

            	
              The
      aforesaid purchase price is final and the Purchaser has no other
      obligations once paying off such purchase
price.

            

    

    

    
      	
               
      

            	
              2.3

            	
              Each
      party is respectively liable for the taxes and fees with respect to the
      transaction of the Target Equity in accordance with the PRC
      laws.

            

    

    

    
      	
              3.

            	
              Close
      of Transaction

            

    

    

    
      	
               
      

            	
              3.1

            	
              Each
      party should cooperate to complete the alteration registration procedure
      with the relevant authority as to the Transaction within 40 days after the
      signing of the Agreement.

            

    

    

    
      	
               
      

            	
              3.2

            	
              The
      Transaction of the Target Equity shall be closed till the alteration
      registration procedure with the relevant authority aforesaid in 3.1 is
      completed.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              4.

            	
              Representations
      and Warranties

            

    

    

    
      	
               
      

            	
              4.1

            	
              The
      Seller makes the following representations and warranties to the Purchaser
      which shall remain true, correct and not misleading till the close of the
      transaction:

            

    

    

    
      	
               
      

            	
              (1)

            	
              The
      Seller has obtained the necessary approval, permit, authorization, power
      and right to sign and deliver and perform the
  Agreement;

            

    

    

    
      	
               
      

            	
              (2)

            	
              The
      Seller has legally and validly owned the right to the Target Equity and
      there is no pledge or other third party’s right on the Target
      Equity;

            

    

    

    
      	
               
      

            	
              (3)

            	
              The
      Seller shall be liable for the Target Company’s debts, liabilities, claims
      to compensate or potential debts, liabilities, claims to compensate which
      it has been aware of but not disclosed to the
  Purchaser.

            

    

    

    
      	
               
      

            	
              (4)

            	
              To
      the best of The Seller’s knowledge, there exist no pending or potential
      procedures, litigations, claims, demands, Articles of Association,
      objection Orders, hearings, breach of contracts, deficient notice or
      investigations, directly or indirectly related to or with respect to the
      Agreement, the business or assets of the Target Company or the Target
      Equity.

            

    

    

    
      	
               
      

            	
              (5)

            	
              The
      selling of the Target Equity by the Seller to the Purchase is not and will
      not in violation of the Articles of Association of the Target Company, the
      contracts and agreements and other legal documents having binding effect
      upon the Seller; and

            

    

    

    
      	
               
      

            	
              (6)

            	
              The
      Seller must not sign any contract or agreement using the name of the
      shareholder of the Target Company which is detrimental to the benefit of
      the Target Company after the effectiveness of the
    Agreement.

            

    

    

    
      	
               
      

            	
              4.2

            	
              The
      Purchaser makes the following representations and warranties to the Seller
      which shall remain true, correct and not misleading till the close of the
      transaction:

            

    

    

    
      	
               
      

            	
              (1)

            	
              The
      Purchaser has obtained the necessary approval, authorization, power and
      right to sign and deliver the
Agreement;

            

    

    

    
      	
               
      

            	
              (2)

            	
              The
      signing and performance of the Agreement by the Purchaser is not and will
      not in violation of the Articles of Association of the Target Company, the
      contracts and agreements and other legal documents having binding effect
      upon the Purchaser.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	
              5.

            	
              Effectiveness

            

    

    

    
      	
               
      

            	
              5.1

            	
              Each
      party agrees that the Agreement shall become effective since April 1,
      2010.

            

    

    

    
      	
              6.

            	
              Breach
      of Contract

            

    

    

    
      	
               
      

            	
              6.1

            	
              Any
      violation of the representations, warranties and other provisions of the
      Agreement shall constitute breach of the Agreement and the breaching party
      shall assume relevant liabilities according to the PRC
    laws.

            

    

    

    
      	
               
      

            	
              6.2

            	
              If
      either party to the Agreement violates the representations, warranties and
      other provisions of the Agreement, which cause the purpose of the
      Agreement unrealized, the other party shall has the right to terminate the
      Agreement.

            

    

    

    
      	
              7.

            	
              Force
      Majeure

            

    

    

    
      	
               
      

            	
              7.1

            	
              If
      the performance of the Agreement by either party is affected or delayed by
      force majeure events, the affected party should give notice to the other
      party immediately and provide documents introducing and proving the
      occurrence of such force majeure events as well as explaining the reason
      for its disability to perform or delay to perform. Both party should then
      discuss and decide whether to terminate the Agreement or amend relevant
      provisions. Once such force majeure events disappear, the affected party
      should take actions to continue to fulfill the feasible parts of the
      contract.

            

    

    

    
      	
               
      

            	
              7.2

            	
              The
      force majeure means all events that occur after signing of this Agreement,
      the occurrence and consequence of which can not be avoided or overcame,
      and hinder the performance by any party. The said events include but not
      limited to injunction or action by government or public institutions,
      riot, war striking and other labor disputes, terminations or
      discontinuation of transportation or other public facility supplies,
      epidemic, flood, fire, earthquake, typhoon, and other natural
      disasters.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              8.

            	
              Governing
      Law

            

    

    

    
      	
               
      

            	
              8.1

            	
              The
      execution, performance and construction of the Agreement, as well as the
      settlement of disputes related to or arising from the Agreement, are all
      governed by the PRC laws.

            

    

    

    
      	
              9.

            	
              Settlement
      of Disputes

            

    

    

    
      	
               
      

            	
              9.1

            	
              Any
      dispute resulting from the performance of or in relation to the Agreement
      should be firstly resolved by friendly discussion between the Parties. If
      failed, either Party may bring a suit before a PRC court in the place of
      where the Target Company locates.

            

    

    

    
      	
              10.

            	
              Other
      Matters

            

    

    

    
      	
               
      

            	
              10.1

            	
              If
      any part or any provision of the Agreement is treated as illegal, expired
      or void or in conflict with the PRC laws, the binding effect of other
      provisions should not be affected and both parties should make substitute
      provisions with same or nearly similar effect as or to the intent of the
      Agreement.

            

    

    

    
      	
               
      

            	
              10.2

            	
              The
      fact that a party is not exercising or late to exercise the right under
      the Agreement dose not constitute the waiver of such right or any other
      right.

            

    

    

    
      	
               
      

            	
              10.3

            	
              Any
      revision of or supplement or amendment to the Agreement shall not become
      effective unless made in writing and signed by all parties or their
      authorized representatives.

            

    

    

    
      	
               
      

            	
              10.4

            	
              The
      Agreement is made in two Chinese counterparts with the same legal effect
      and each party holds one.

            

    

    [Below is
the signature part]

    

    
      
        	
                Party
      A: Xi’an Tech Full Simo Motor Co., Ltd.

              	 
      
	
                (seal)

              	 
      

      

    

    

    
      
        
          	
                  Legal
      Representative: 

                	 
      	 
      
	 
      	
                  (signature)

                	 
      

        

      

    

    

    
      
        	
                Party
      B: 

              	
                [                        ]

              	 
      
	 
      	
                (seal)

              	 
      

      

    

    

    
      
        
          	
                  Legal
      Representative: 

                	 
      	 
      
	 
      	
                  (signature)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}]]