Document:

STOCK
ESCROW AGREEMENT

    

    STOCK ESCROW AGREEMENT, dated as of
________, 2009 (“Agreement”), by and among GSME ACQUISITION PARTNERS I, a Cayman
Islands corporation (“Company”), MCK CAPITAL CO., LIMITED, ELI D.
SCHER  and LAWRENCE S. WIZEL (collectively “Initial Shareholders”) and
CONTINENTAL STOCK TRANSFER & TRUST COMPANY, a New York corporation (“Escrow
Agent”).

    

    WHEREAS, the Company has entered into
an Underwriting Agreement, dated ___________, 2008 (“Underwriting Agreement”),
with Cohen & Company Securities, LLC (“Cohen & Company”) acting as
representative of the several underwriters (collectively, the “Underwriters”),
pursuant to which, among other matters, the Underwriters have agreed to purchase
up to 4,140,000 units (“Units”) of the Company.  Each Unit consists of
one ordinary share of the Company, par value $.001 per share (“Ordinary
Shares”), and one Warrant, each Warrant to purchase one Ordinary Share, all as
more fully described in the Company’s final Prospectus, dated _________, 2009
(“Prospectus”) comprising part of the Company’s Registration Statement on Form
F-1 (File No. 333-_______) under the Securities Act of 1933, as amended
(“Registration Statement”), declared effective on _______, 2009 (“Effective
Date”).

    

    WHEREAS, the Initial Shareholders have
agreed as a condition of the sale of the Units to deposit their Ordinary Shares
of the Company, as set forth opposite their respective names in Exhibit A
attached hereto (collectively “Escrow Shares”), in escrow as hereinafter
provided.

    

    WHEREAS, the Company and the Initial
Shareholders desire that the Escrow Agent accept the Escrow Shares, in escrow,
to be held and disbursed as hereinafter provided.

    

    IT IS AGREED:

    

    1.           Appointment of Escrow
Agent.  The Company and the Initial Shareholders hereby appoint
the Escrow Agent to act in accordance with and subject to the terms of this
Agreement and the Escrow Agent hereby accepts such appointment and agrees to act
in accordance with and subject to such terms.

    

    2.           Deposit of Escrow
Shares.  On or before the Effective Date, each of the Initial
Shareholders shall deliver to the Escrow Agent certificates representing his
respective Escrow Shares, to be held and disbursed subject to the terms and
conditions of this Agreement.  Each Initial Shareholder acknowledges
that the certificate representing his Escrow Shares is legended to reflect the
deposit of such Escrow Shares under this Agreement.

    

    3.           Disbursement of the Escrow
Shares.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    3.1           The
Escrow Agent shall hold the Escrow Shares as follows: (i) with respect to 50% of
the Escrow Shares, until the consummation of a Business Combination (as such
term is defined in the Registration Statement), (ii) with respect to 25% of the
Escrow Shares, until the closing price of the Ordinary Shares exceeds $12.50 for
any 20 trading days within a 30-trading day period following the consummation of
a Business Combination and (iii) with respect to 25% of the Escrow Shares, until
the closing price of the Ordinary Shares exceeds $15.00 for any 20 trading days
within a 30-trading day period following the consummation of a Business
Combination (collectively, the “Escrow Period”). On each of such dates, upon
written instructions from each Initial Shareholder, the Escrow Agent shall
disburse such amount of each Initial Shareholder’s Escrow Shares (and any
applicable stock power) to such Initial Shareholder; provided, however, that if
the Escrow Agent is notified by the Company pursuant to Section 6.7 hereof that
the Company is being liquidated at any time during the Escrow Period, then the
Escrow Agent shall promptly destroy the certificates representing the Escrow
Shares; provided, however, that if the Underwriters do not exercise their
over-allotment option to purchase an additional 540,000 Units of the Company
within 45 days of the date of the Prospectus (as described in the Underwriting
Agreement), the Initial Shareholders agree that the Escrow Agent shall return to
the Company for cancellation, at no cost, the number of Escrow Shares held by
each Initial Shareholder determined by multiplying (a) the product of (i)
135,000, multiplied by (ii) a fraction, (x) the numerator of which is the number
of Escrow Shares held by each Initial Shareholder, and (y) the denominator of
which is the total number of Escrow Shares, by (b) a fraction, (i) the numerator
of which is 540,000 minus the number of shares of Common Stock purchased by the
Underwriters upon the exercise of their over-allotment option, and (ii) the
denominator of which is 540,000; provided further, however, that if, after the
Company consummates a Business Combination, the Company (or the surviving
entity) subsequently consummates a liquidation, merger, stock exchange or other
similar transaction which results in all of the shareholders of such entity
having the right to exchange their Ordinary Shares for cash, securities or other
property, then the Escrow Agent will, upon receipt of a notice executed by the
Chairman of the Board, President or other authorized officer of the Company, in
form reasonably acceptable to the Escrow Agent, certifying that such transaction
is then being consummated, release the Escrow Shares to the Initial
Shareholders.  The Escrow Agent shall have no further duties hereunder
after the disbursement or destruction of the Escrow Shares in accordance with
this Section 3.

    

    4.           Rights of Initial
Shareholders in Escrow Shares.

    

    4.1           Voting Rights as a
Shareholder.  Subject to the terms of the Insider Letters
described in Section 4.4 hereof and except as herein provided, the Initial
Shareholders shall retain all of their rights as shareholders of the Company
during the Escrow Period, including, without limitation, the right to vote such
shares.

    

    4.2           Dividends and Other
Distributions in Respect of the Escrow Shares.  During the
Escrow Period, all dividends payable in cash with respect to the Escrow Shares
shall be paid to the Initial Shareholders, but all dividends payable in stock or
other non-cash property (“Non-Cash Dividends”) shall be delivered to the Escrow
Agent to hold in accordance with the terms hereof.  As used herein,
the term “Escrow Shares” shall be deemed to include the Non-Cash Dividends
distributed thereon, if any.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    4.3           Restrictions on
Transfer.  During the Escrow Period, no sale, transfer or other
disposition may be made of any or all of the Escrow Shares except (i) to an
entity’s members upon its liquidation, (ii) by bona fide gift to a member of an
Initial Shareholder’s immediate family or to a trust, the beneficiary of which
is an Initial Shareholder or a member of an Initial Shareholder’s immediate
family, (iii) by virtue of the laws of descent and distribution upon death of
any Initial Shareholder, (iv) pursuant to a qualified domestic relations order,
(v) by certain pledges to secure obligations incurred in connection with
purchases of the Company’s securities or (vi) by private sales of the Escrow
Shares made at or prior to the consummation of a Business Combination at prices
no greater than the price at which the shares were originally purchased;
provided, however, that such permissive transfers may be implemented only upon
the respective transferee’s written agreement to be bound by the terms and
conditions of this Agreement and of the Insider Letter signed by the Initial
Shareholder transferring the Escrow Shares.  During the Escrow Period,
the Initial Shareholders shall not pledge or grant a security interest in the
Escrow Shares or grant a security interest in their rights under this
Agreement.

    

    4.4           Insider
Letters.  Each of the Initial Shareholders has executed a
letter agreement with Cohen & Company and the Company, dated as indicated on
Exhibit A hereto, and which is filed as an exhibit to the Registration Statement
(“Insider Letter”), respecting the rights and obligations of such Initial
Shareholder in certain events, including but not limited to the liquidation of
the Company.

    

    5.           Concerning the Escrow
Agent.

    

    5.1           Good Faith
Reliance.  The Escrow Agent shall not be liable for any action
taken or omitted by it in good faith and in the exercise of its own best
judgment, and 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 Escrow Agent), 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 Escrow Agent to be
genuine and to be signed or presented by the proper person or
persons.  The Escrow Agent shall not be bound by any notice or demand,
or any waiver, modification, termination or rescission of this Agreement unless
evidenced by a writing delivered to the Escrow Agent signed by the proper party
or parties and, if the duties or rights of the Escrow Agent are affected, unless
it shall have given its prior written consent thereto.

    

    5.2           Indemnification.  The
Escrow Agent shall be indemnified and held harmless by the Company from and
against any expenses, including counsel fees and disbursements, or loss suffered
by the Escrow Agent in connection with any action, suit or other proceeding
involving any claim which in any way, directly or indirectly, arises out of or
relates to this Agreement, the services of the Escrow Agent hereunder, or the
Escrow Shares held by it hereunder, other than expenses or losses arising from
the gross negligence or willful misconduct of the Escrow
Agent.  Promptly after the receipt by the Escrow Agent of notice of
any demand or claim or the commencement of any action, suit or proceeding, the
Escrow Agent shall notify the other parties hereto in writing.  In the
event of the receipt of such notice, the Escrow Agent, in its sole discretion,
may commence an action in the nature of interpleader in an appropriate court to
determine ownership or disposition of the Escrow Shares or it may deposit the
Escrow Shares with the clerk of any appropriate court or it may retain the
Escrow Shares pending receipt of a final, non appealable order of a court having
jurisdiction over all of the parties hereto directing to whom and under what
circumstances the Escrow Shares are to be disbursed and
delivered.  The provisions of this Section 5.2 shall survive in the
event the Escrow Agent resigns or is discharged pursuant to Sections 5.5 or 5.6
below.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    5.3           Compensation.  The
Escrow Agent shall be entitled to reasonable compensation from the Company for
all services rendered by it hereunder.  The Escrow Agent shall also be
entitled to reimbursement from the Company for all expenses paid or incurred by
it in the administration of its duties hereunder including, but not limited to,
all counsel, advisors’ and agents’ fees and disbursements and all taxes or other
governmental charges.

    

    5.4           Further
Assurances.  From time to time on and after the date hereof,
the Company and the Initial Shareholders shall deliver or cause to be delivered
to the Escrow Agent such further documents and instruments and shall do or cause
to be done such further acts as the Escrow Agent shall reasonably request to
carry out more effectively the provisions and purposes of this Agreement, to
evidence compliance herewith or to assure itself that it is protected in acting
hereunder.

    

    5.5           Resignation.  The
Escrow Agent may resign at any time and be discharged from its duties as escrow
agent hereunder by its giving the other parties hereto written notice and such
resignation shall become effective as hereinafter provided.  Such
resignation shall become effective at such time that the Escrow Agent shall turn
over to a successor escrow agent appointed by the Company, the Escrow Shares
held hereunder.  If no new escrow agent is so appointed within the 60
day period following the giving of such notice of resignation, the Escrow Agent
may deposit the Escrow Shares with any court it reasonably deems
appropriate.

    

    5.6           Discharge of Escrow
Agent.  The Escrow Agent shall resign and be discharged from
its duties as escrow agent hereunder if so requested in writing at any time by
the other parties hereto, jointly, provided, however, that such resignation
shall become effective only upon acceptance of appointment by a successor escrow
agent as provided in Section 5.5.

    

    5.7           Liability.  Notwithstanding
anything herein to the contrary, the Escrow Agent shall not be relieved from
liability hereunder for its own gross negligence or its own willful
misconduct.

    

    6.           Miscellaneous.

    

    6.1           Governing
Law.  This Agreement shall for all purposes be deemed to be
made under and shall be construed 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.

    

    6.2           Third Party
Beneficiaries.  Each of the Initial Shareholders hereby
acknowledges that the Underwriters are third party beneficiaries of this
Agreement and this Agreement may not be modified or changed without the prior
written consent of Cohen & Company.

     

    
      
         

      

      
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    6.3           Entire
Agreement.  This Agreement contains the entire agreement of the
parties hereto with respect to the subject matter hereof and, except as
expressly provided herein, may not be changed or modified except by an
instrument in writing signed by the party to the charged.

    

    6.4           Headings.  The
headings contained in this Agreement are for reference purposes only and shall
not affect in any way the meaning or interpretation thereof.

    

    6.5           Binding
Effect.  This Agreement shall be binding upon and inure to the
benefit of the respective parties hereto and their legal representatives,
successors and assigns.

    

    6.6           Notices.  Any
notice or other communication required or which may be given hereunder shall be
in writing and either be delivered personally or be mailed, certified or
registered mail, or by private national courier service, return receipt
requested, postage prepaid, and shall be deemed given when so delivered
personally or, if mailed, two days after the date of mailing, as
follows:

    

    If to the Company, to:

    

    GSME Acquisition Partners
I

    762 West
Beijing Road

    Shanghai,
PRC 200041

    Attn:  Eli D. Scher, Chief
Executive Officer

    

    If to a Shareholder, to his address set
forth in Exhibit A.

    

    and if to the Escrow Agent,
to:

    

    Continental Stock Transfer & Trust
Company

    17 Battery Place

    New York, New York 10004

    Attn:  Chairman

    

    A copy of any notice sent hereunder
shall be sent to:

    

    Cohen & Company Securities,
LLC

    135 East 57th
Street

    New York, New York 10022

    Attn:  Chairman

    

    and:

     

    
      
         

      

      
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    Graubard
Miller

    The
Chrysler Building

    405
Lexington Avenue

    New York,
New York 10174

    Attn:  David
Alan Miller, Esq.

    

    and:

    

    Ellenoff
Grossman & Schole LLP

    150 East
42nd
Street

    New York,
New York 10017

    Attn:  Douglas
S. Ellenoff, Esq.

     

    The parties may change the persons and
addresses to which the notices or other communications are to be sent by giving
written notice to any such change in the manner provided herein for giving
notice.

    

    6.7           Liquidation of the
Company.  The Company shall give the Escrow Agent written
notification of the liquidation and dissolution of the Company in the event that
the Company fails to consummate a Business Combination within the time period(s)
specified in the Prospectus.

     

    
      
         

      

      
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    WITNESS the execution of this Agreement
as of the date first above written.

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              	 
      	 
      	
                                      GSME
      ACQUISITION PARTNERS I

                                    
	 
      	 
      	 
      
	 
      	
                                      By:

                                    	 
      
	 
      	 
      	 
      
	 
      	 
      	
                                      INITIAL
      SHAREHOLDERS:

                                    
	 
      	 
      	 
      
	 
      	 
      	
                                      MCK
      Capital Co., Limited

                                    
	 
      	 
      	 
      
	 
      	
                                      By:

                                    	 
      
	 
      	 
      	
                                      Jing
      Dong Gao

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	
                                      Eli
      D. Scher

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	
                                      Lawrence
      S. Wizel

                                    
	 
      	 
      	 
      
	 
      	 
      	
                                      CONTINENTAL
      STOCK TRANSFER

                                    
	 
      	 
      	
                                      &
      TRUST COMPANY

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	
                                      By:

                                    	 
      
	 	 	 	      
                                      Name:

                                    
	 	 	 	      
                                      Title:

                                    

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
         

      

      
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    EXHIBIT
A

    

    
      
        
          
            	
                    Name and Address of 

                    Initial Shareholder     

                  	 	
                    Number

                    of Shares

                  	 	 	
                    Stock 

                    Certificate Number

                  	 	
                    Date of 

                    Insider Letter

                  
	 
      	 	 	 	 	 	 	 
      
	
                    MCK
      Capital Co., Limited

                    c/o
      Jing Dong Gao

                    GSME
      Acquisition Partners I

                    762
      West Beijing Road

                    Shanghai,
      PRC 200041

                  	 	 	
                    900,450

                  	 	 	 	
                    1

                  	 	
                    ____________,
      2009

                  
	 
      	 	 	 	 	 	 	 	 	 
      
	
                    Eli
      D. Scher

                    GSME
      Acquisition Partners I

                    762
      West Beijing Road

                    Shanghai,
      PRC 200041

                  	 	 	
                    103,500

                  	 	 	 	
                    2

                  	 	
                    ____________,
      2009

                  
	 
      	 	 	 	 	 	 	 	 	 
      
	
                    Lawrence
      S. Wizel

                    GSME
      Acquisition Partners I

                    762
      West Beijing Road

                    Shanghai,
      PRC 200041

                  	 	 	
                    31,050

                  	 	 	 	
                    3

                  	 	
                    ____________,
      2009

                  

          

        

      

    

     

    
      
         

      

      
        8PROMISSORY
NOTE

    

    
      
        	
                $125,000.00

              	
                As
      of March 27, 2008

              

      

    

    

    GSME
Acquisition Partners I (“Maker”) promises to pay to the order of Eli D. Scher
(“Payee”) the principal sum of One Hundred Twenty Five Thousand Dollars and No
Cents ($125,000.00) in lawful money of the United States of America, on the
terms and conditions described below.

     

    1.           Principal.  The
principal balance of this Note shall be repayable on the earlier of (i) March
27, 2009 or (ii) the date on which Maker consummates an initial public offering
of its securities.

     

    2.           Interest.  No
interest shall accrue on the unpaid principal balance of this Note.

     

    3.           Application of
Payments.  All payments shall be applied first to payment in
full of any costs incurred in the collection of any sum due under this Note,
including (without limitation) reasonable attorneys’ fees, then to the payment
in full of any late charges and finally to the reduction of the unpaid principal
balance of this Note.

     

    4.           Events of
Default.  The following shall constitute Events of
Default:

     

    (a)           Failure to Make Required
Payments.  Failure by Maker to pay the principal of this Note
within five (5) business days following the date when due.

     

    (b)           Voluntary Bankruptcy,
Etc.  The commencement by Maker of a voluntary case under the
Federal Bankruptcy Code, as now constituted or hereafter amended, or any other
applicable federal or state bankruptcy, insolvency, reorganization,
rehabilitation or other similar law, or the consent by it to the appointment of
or taking possession by a receiver, liquidator, assignee, trustee, custodian,
sequestrator (or other similar official) of Maker or for any substantial part of
its property, or the making by it of any assignment for the benefit of
creditors, or the failure of Maker generally to pay its debts as such debts
become due, or the taking of corporate action by Maker in furtherance of any of
the foregoing.

     

    (c)           Involuntary Bankruptcy,
Etc.  The entry of a decree or order for relief by a court
having jurisdiction in the premises in respect of maker in an involuntary case
under the Federal Bankruptcy Code, as now or hereafter constituted, or any other
applicable federal or state bankruptcy, insolvency or other similar law, or
appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator
(or similar official) of Maker or for any substantial part of its property, or
ordering the winding-up or liquidation of its affairs, and the continuance of
any such decree or order unstayed and in effect for a period of 60 consecutive
days.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    5.           Remedies.

     

    (a)           Upon
the occurrence of an Event of Default specified in Section 4(a), Payee may, by
written notice to Maker, declare this Note to be due and payable, whereupon the
principal amount of this Note, and all other amounts payable thereunder, shall
become immediately due and payable without presentment, demand, protest or other
notice of any kind, all of which are hereby expressly waived, anything contained
herein or in the documents evidencing the same to the contrary
notwithstanding.

     

    (b)           Upon
the occurrence of an Event of Default specified in Sections 4(b) and 4(c), the
unpaid principal balance of, and all other sums payable with regard to, this
Note shall automatically and immediately become due and payable, in all cases
without any action on the part of Payee.

     

    6.           Waivers.  Maker
and all endorsers and guarantors of, and sureties for, this Note waive
presentment for payment, demand, notice of dishonor, protest, and notice of
protest with regard to the Note, all errors, defects and imperfections in any
proceedings instituted by Payee under the terms of this Note, and all benefits
that might accrue to Maker by virtue of any present or future laws exempting any
property, real or personal, or any part of the proceeds arising from any sale of
any such property, from attachment, levy or sale under execution, or providing
for any stay of execution, exemption from civil process, or extension of time
for payment; and Maker agrees that any real estate that may be levied upon
pursuant to a judgment obtained by virtue hereof, on any writ of execution
issued hereon, may be sold upon any such writ in whole or in part in any order
desired by Payee.

     

    7.           Unconditional
Liability.  Maker hereby waives all notices in connection with
the delivery, acceptance, performance, default, or enforcement of the payment of
this Note, and agrees that its liability shall be unconditional, without regard
to the liability of any other party, and shall not be affected in any manner by
any indulgence, extension of time, renewal, waiver or modification granted or
consented to by Payee, and consents to any and all extensions of time, renewals,
waivers, or modifications that may be granted by Payee with respect to the
payment or other provisions of this Note, and agree that additional makers,
endorsers, guarantors, or sureties may become parties hereto without notice to
them or affecting their liability hereunder.

     

    8.           Notices.  Any
notice called for hereunder shall be deemed properly given if (i) sent by
certified mail, return receipt requested, (ii) personally delivered, (iii)
dispatched by any form of private or governmental express mail or delivery
service providing receipted delivery, (iv) sent by telefacsimile or (v) sent by
e-mail, to the following addresses or to such other address as either party may
designate by notice in accordance with this Section:

    

    If to
Maker:

    

    GSME
Acquisition Partners I

    Unit
3206

    2 Grand
Gateway

    3
Hongqiao Road

    Shanghai,
PRC 200030

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    If to
Payee:

    

    Eli D.
Scher

    Unit
3206

    2 Grand
Gateway

    3
Hongqiao Road

    Shanghai,
PRC 200030

    

    Notice
shall be deemed given on the earlier of (i) actual receipt by the receiving
party, (ii) the date shown on a telefacsimile transmission confirmation, (iii)
the date on which an e-mail transmission was received by the receiving party’s
on-line access provider (iv) the date reflected on a signed delivery receipt, or
(vi) two (2) Business Days following tender of delivery or dispatch by express
mail or delivery service.

     

    9.           Severability.  Any
provision contained in this Note which is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.

     

    IN
WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this
Note to be duly executed by its Chief Executive Officer the day and year first
above written.

    

    
      
        
          	
                  GSME
      ACQUISITION PARTNERS I

                
	 
      
	
                  By:  

                	 
      
	 
      	
                  Name:  Eli
      D. Scher

                
	 
      	
                  Title:
      Chief Executive Officer

                

        

      

    

     

    
      
         

      

      
        3

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