Document:

Form of Subscription Agreement

 Exhibit 10.2 
 BANKS.COM, INC. 
 SUBSCRIPTION AGREEMENT 
 Gentlemen: 
 1. Subscription. 
 (a) Subject to the conditions set forth in this Subscription Agreement (the “Agreement”), the undersigned subscriber (the
“Subscriber”) intending to be legally bound, hereby irrevocably subscribes to purchase from Banks.com, Inc., a Florida corporation (the “Company”), an aggregate of
                     shares of Series C Preferred Stock (the “Securities”) for an aggregate purchase price of
                    , or Ten Cents ($0.10) per share of the Securities, which terms and conditions shall not be materially
different from those set forth on Exhibit A, except as required by the rules and regulations of the NYSE Alternext U.S. This subscription is submitted to you in accordance with and subject to the terms and conditions described in this Agreement.

 (b) The purchase price for the Securities shall be made payable to the Company and should be delivered, together with two executed and
properly completed copies of this Agreement, to the Company. 
 (c) The Subscriber may not withdraw this subscription or any amount paid
pursuant thereto, unless the Company fails to close on Subscriber’s investment in the Securities within 60 days of the date hereof. The Subscriber understands that his or her purchase of the Securities is contingent upon the acceptance in
writing of this Subscription Agreement by the Company and the approval of the NYSE Alternext U.S. of the terms and conditions of the Securities. 
 2. Representations. Warranties and Covenants of the Subscriber. The Subscriber hereby represents and warrants to, and agrees with, the Company as follows: 
 (a) The Subscriber is an “accredited investor” as that term is defined in Rule 501(a) of Regulation D promulgated under the Securities Act of 1933 (the “Securities Act”). Specifically: [PLEASE
RESPOND BELOW AS APPROPRIATE] 
 If the subscriber is an INDIVIDUAL, please answer the following questions: 
  

	 	(1)	Did your individual annual income during each of the two most recent years exceed $200,000 and do you expect your annual income during the current year to exceed $200,000?

 Yes
                    No              

	 	(2)	If you are married, did your joint annual income with your spouse during each of the two most recent years exceed $300,000 and do you expect your joint annual income with your
spouse during the current year to exceed $300,000? 

 Yes
                    No              
  

	 	(3)	Does your individual or joint (together with your spouse) net worth (including your home, home furnishings and automobile) exceed $1,000,000? 

 Yes                     No
             
 IF THE ANSWERS TO ALL OF THE IMMEDIATELY PRECEDING
QUESTIONS ARE NO, THE SUBSCRIBER DOES NOT MEET THE REQUISITE FINANCIAL SOPHISTICATION STANDARDS AND WILL NOT BE ACCEPTED AS A PURCHASER OF THE SECURITIES. 
 If the subscriber is a CORPORATION, LIMITED LIABILITY COMPANY, PARTNERSHIP, or TRUST please answer the following questions: 
  

	 	(4)	Was the corporation, limited liability company, partnership or trust formed for the specific purpose of investing in the Company? 

 Yes                     No
             
  

	 	(5)	Does the corporation, limited liability company, partnership or trust have total assets in excess of $5,000,000? 

 Yes                     No
             
 If the answer to question (4) is yes or the
answer to question (5) is no, please answer the following questions: 
  

	 	(6)	Please list the names of each shareholder in the corporation, each member in the limited liability company, each partner in the partnership, and in the case of a revocable trust,
each grantor of the trust: 

  

	
	
	  

	
	  

	
	  

	
	  

  

 -2- 

 (7) Does each person listed in response to question (6) either (i) have an individual annual
income in excess of $200,000 in each of the two most recent years and expect to have an annual income in excess of $200,000 during the current year, (ii) if married, have a joint annual income with his/her spouse in excess of $300,000 in each
of the two most recent years and expect to have an annual income in excess of $300,000 during the current year, or (iii) have an individual or joint (together with his/her spouse) net worth (including home, home furnishings and automobiles) in
excess of $1,000,000? 
 Yes
                    No              
 IF THE ANSWER TO QUESTION 7 IS “NO,” THE SUBSCRIBER DOES NOT SATISFY THE INVESTOR SUITABILITY REQUIREMENTS FOR THIS OFFERING AND WILL NOT BE
ACCEPTED AS A PURCHASER OF THE SECURITIES. IN THE CASE OF A TRUST THAT IS NOT A REVOCABLE TRUST, IF THE ANSWER TO QUESTION 4 IS “YES” OR THE ANSWER TO QUESTION 5 IS “NO”, THE SUBSCRIBER DOES NOT SATISFY THE INVESTOR SUITABILITY
REQUIREMENTS FOR THIS OFFERING AND WILL NOT BE ACCEPTED AS A PURCHASER OF THE SECURITIES. 
 (b) The Subscriber has a fundamental
understanding of the Company’s business. 
 (c) The Subscriber has had access to and has received all materials that have been requested
by the Subscriber and has had a reasonable opportunity to ask questions of the Company and its representatives. The Company has answered all inquiries that the Subscriber or the Subscriber’s representatives have asked the Company. The
Subscriber has taken all the steps necessary to evaluate the merits and risks of an investment in the Securities. 
 (d) The Subscriber has
such knowledge and experience in finance, securities, investments and other business matters so as to be able to protect the interests of the Subscriber in connection with this transaction, and the Subscriber’s investment in the Company is not
material when compared to the Subscriber’s total financial capacity. 
 (e) The Subscriber understands the various risks of an
investment in the Company as proposed herein and can afford to bear such risks, including, without limitation, the risks of losing the entire investment. Certain of these risk factors are set forth in the Company’s filings with the Securities
and Exchange Commission. 
 (f) The Subscriber acknowledges that there is no market for the Securities and the trading market for the Shares
is limited, and therefore, it may be impossible to liquidate the investment in the Securities. 
 (g) The Subscriber understands that the
Securities have not been registered under the Securities Act, that the Securities will be issued on the basis of the exemption 

  

 -3- 

 
provided by Section 4(2) of the Securities Act and Regulation D promulgated thereunder and under exemptions under certain state securities laws, that
this transaction has not been reviewed by, passed on or submitted to any federal or state agency or self-regulatory organization where an exemption is being relied upon, and that the Company’s reliance thereon is based in part upon the
representations made by the Subscriber in this Agreement. 
 (h) The Subscriber acknowledges that the Subscriber is familiar with the
limitations imposed by the Securities Act and the rules and regulations thereunder on the transfer of the Securities. In particular, the Subscriber agrees that the Company shall not be required to give any effect to sale, assignment or transfer of
the Securities, unless (i) the sale, assignment or transfer of the Securities is registered under the Securities Act, it being understood that the Securities are not currently registered for sale and that the Company has no obligation or
intention to so register the Securities, or (ii) such Securities are sold, assigned or transferred in accordance with all the requirements and limitations of Rule 144 under the Securities Act, it being understood that Rule 144 is not available
at the present time for the sale of the Securities, or (iii) such sale, assignment or transfer is otherwise exempt from registration under the Securities Act. The Subscriber further understands that an opinion of counsel and other documents may
be required to transfer the Securities. 
 (i) If the Subscriber is an individual, the Subscriber is a bona-fide resident of the state set
forth in the address provided on the Subscriber’s signature page to this Agreement. 
 (j) If the Subscriber is a partnership, trust,
corporation or other entity: (A) it has made other investments or engaged in other substantial business activities prior to receiving an opportunity to purchase the Securities; (B) it was not organized for the purpose of acquiring the
Securities; (C) the person executing on behalf of the partnership, trust, corporation or other entity has the full power and authority to execute and comply with the terms of this Agreement on behalf of such entity and to make the
representations and warranties made herein on its behalf (D) its principal place of business and principal office are located in the state set forth in its address below; and (E) the investment in the Securities has been affirmatively
authorized, if required, by the governing board of such entity and is not prohibited by the governing documents of the entity. 
 (k) The
Subscriber will acquire the Securities for the Subscriber’s own account for investment and not with a view to the sale or distribution thereof or the granting of any participation therein, and has no present intention of distributing or selling
to others any of such interest or granting any participation therein. 
 (l) The Subscriber acknowledges that the representations, warranties
and agreements made by the Subscriber herein shall survive the execution and delivery of this Agreement and the purchase of the Securities. The information stated herein is true and complete as of the date hereof and will be true and complete as of
the date on which the Company shall sell the Securities to the Subscriber. If, prior to the final consummation of the offer and sale of the Securities, there should be any change in such information or any of such information becomes incorrect or
incomplete, the Subscriber agrees to notify and supply promptly corrective information to the Company. 
  

 -4- 

 3. Representations and Warranties of the Company. The Company hereby represents and warrants to
the Subscriber as follows: 
 (a) Organization and Standing. The Company is a corporation organized, validly existing and in good
standing under the laws of the State of Florida, and has the power to own its properties and assets and to carry on its business as it is now being conducted. The Company has made available to the Subscriber true and complete copies of the
Company’s Articles of Incorporation and Bylaws, in each case as amended to the date hereof, and such organizational documents are in full force and effect on the date hereof. 
 (b) Authority Relative to Agreement. The Company has all of the requisite corporate power and authority to enter into, execute and deliver this
Agreement and to perform its obligations hereunder. 
 (c) No Violations. The execution and delivery by the Company of this Agreement
and the performance of its obligations hereunder will not, to the Company’s knowledge, violate or result in the breach of any term or provision of, constitute a default under, or permit the acceleration of maturity under, any governmental or
judicial order, judgment, or decree or any loan agreement, note, mortgage, or other agreement or instrument to which the Company is a party or by which the Company is bound or subject. 
 (d) Binding Obligations. Upon execution and delivery, this Agreement and all documents executed by the Company pursuant to this Agreement will, to
the Company’s knowledge, constitute valid and binding obligations of the Company, fully enforceable in accordance with their provisions against the Company. 
 (e) Third Party Approvals. To the Company’s knowledge, all third party approvals, authorizations, licenses, or consents required to be obtained in connection with the execution of this Agreement by the
Company and the full performance of the Company’s obligations hereunder to the Subscriber have been obtained. 
 (f)
Capitalization. The authorized capital stock of the Company consists of 125 million shares of common stock, par value $.001 per share, of which 25,588,651 shares are issued and outstanding, and 5 million shares of preferred stock,
par value $.001 per share, none of which are issued and outstanding prior to the transactions contemplated hereby. All such issued and outstanding shares have been duly authorized and validly issued, are fully paid and nonassessable and have been
issued in compliance with federal and state securities laws, except for such non-exempt issuances that would not have a material adverse effect on the Company. The Securities shall have substantially those rights, preferences, privileges and
restrictions set forth in the Exhibit A, except as approved in writing by the Subscriber. The Company has reserved 1,000,000 shares of Common Stock for issuance upon conversion of the Securities. 
  

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 4. Indemnification. The Subscriber agrees to indemnify and hold harmless the Company and each
officer, director, employee, agent and controlling person of the Company from and against any and all loss, damage or liability due to or arising out of a breach of any representation or warranty of the Subscriber in this Agreement. The Company
agrees to indemnify and hold harmless the Subscriber from and against any and all loss, damage or liability due to or arising out of a breach of any representation or warranty of the Company in this Agreement. 
 5. Miscellaneous. 
 (a) This Agreement
shall be binding upon and inure to the benefit of the parties hereto, the successors and assigns of the Company, and the permitted successors and assigns of the Subscriber. 
 (b) This Agreement does not create, and shall not be construed as creating, any rights enforceable by any person not a party to this Agreement.

 (c) The validity, construction, enforcement, and interpretation of this Agreement are governed by the laws of the State of Florida and the
United States of America, without regard to principles of conflict of laws. 
 (d) The Subscriber and the Company hereby acknowledge and
agree that the venue of any action, proceeding, counterclaim, crossclaim, or other litigation relating to, involving, or resulting from this Agreement shall be the state or federal courts located in Hillsborough County, Florida. 
 (e) This Agreement may not be amended except in a writing specifically intended for the purpose and executed by the party against whom enforcement of the
amendment is sought. 
 (f) This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and
supersedes all prior agreements and understandings, both written and oral, between the parties with respect to the subject matter hereof. 
 (g) This Agreement may be executed in counterparts, each of which shall constitute an original, and all of which, together, shall constitute the same instrument. 
  

 -6- 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year this
subscription has been accepted by the Company as set forth below. 
  

									
	 	 	 	 	X	 	  

		 		 	(Signature of Subscriber or Authorized Person on behalf of Subscriber if Subscriber is an Entity)
			
	(Name of Subscriber)	 		 	  

		 		 	(Print Name and Title of Authorized Person if Subscriber is an Entity)
				
		 		 	X	 	  

	(Print Name of Joint Subscriber, if any)	 		 	(Signature of Joint Subscriber, if any)
				
	Date:	 	  
	 		 	
			
	Address:	 		 	Social Security Number or other Taxpayer Identification Number:
			
	  
	 		 	  

	  
	 		 	
	  
	 		 	
			
	AGREED TO AND ACCEPTED BY:	 		 	
	Banks.com, Inc.	 		 	
				
	By:	 	  
	 		 	
	Name:	 		 	
	Title:	 		 	
				
	Date:	 	  
	 		 	

  

 -7- 

 EXHIBIT A 
 TERMS OF SERIES C PREFERRED STOCK 
 Set forth below is a summary of the principle terms of a new
series of preferred stock of Banks.com, Inc., a Florida corporation (the “Company”) to be designated as “Series C Preferred Stock,” par value $.001 per share. 
  

			
	Offering Terms	  	
		
	    Security:	  	A new series of preferred stock of the Company (“Preferred Stock”) to be designated as the Company’s “Series C Preferred Stock”, par value $.001 per share (the
“Series C Preferred”). The rights and preferences of the Series C Preferred will be set forth in Amended and Restated Articles of Incorporation to be adopted and filed by the Company with the Florida Secretary of State (the
“Articles”).
		
	    Purchase Price:	  	The purchase price for each share of Series C Preferred shall be equal to the average closing price for the 30 days prior to the closing of the investment in the Series C Preferred as
reported on the NYSE Alternext U.S., f/k/a the American Stock Exchange, which shall not be less than the last reported closing price immediately preceding the closing (the “Original Purchase Price”).
	
	Amended and Restated Articles of Incorporation
		
	Dividends:	  	The Series C Preferred will carry an annual 10% cumulative dividend, compounded annually, payable upon a liquidation or redemption. For any other dividends or distributions, the Series C
Preferred will participate with the Company’s common stock, par value $.001 per share (the “Common Stock”).

			
	Liquidation Preference:	  	 In the event of any liquidation, dissolution or winding up of the Company, the proceeds shall be paid as follows:
  
 First pay the Original Purchase Price plus accrued dividends on each share of Series C
Preferred. Thereafter, the Series C Preferred participates with the Common Stock on an as-converted basis.
  
 A merger or consolidation (other than one in which stockholders of the Company own a majority by voting power of the outstanding shares of the surviving or acquiring corporation) and a sale, lease, transfer or other
disposition of all or substantially all of the assets of the Company will be treated as a liquidation event (a “Deemed Liquidation Event”), thereby triggering payment of the liquidation preference described
above.

		
	Voting Rights:	  	Each share of the Series C Preferred shall be entitled to one vote per share and shall vote together with the Common Stock, and not as a separate class, except (i) the Series C Preferred as a
class shall be entitled to elect one (1) (the “Series C Director”) member of the Board (but only if Daniel M. O’Donnell is not then serving as a director of the Company or its Chief Executive Officer), assuming the Board of
Directors will be no greater than five (5) in number, (ii) as provided under “Protective Provisions” below or (iii) as required by law. The Articles will provide that the number of authorized shares of Common Stock may be increased or
decreased with the approval of a majority of the Preferred and Common Stock, voting together as a single class, and without a separate class vote by the Common Stock.
		
	Protective Provisions:	  	 So long as any shares of Series C Preferred are outstanding, the Company will not, without the written consent of the holders of at least 75% of
the Company’s outstanding Series C Preferred, either directly or indirectly (by amendment, merger, consolidation, or otherwise):
  
 (i) create or authorize the creation of or issue any other security convertible into or exercisable for any equity security, having rights,
preferences or privileges senior to or on parity with the Series C Preferred, or increase the authorized number of shares of Series C Preferred or (ii) increase or decrease the size of the Board of Directors, except to set the number of members
of the Board of Directors at five (5).

		
	Optional Conversion:	  	The Series C Preferred will convert 3:1 to Common Stock at any time at option of holder, subject to adjustments for any stock dividends, splits, combinations and similar
events.

  

 2 

			
	Other Matters
		
	Right to Participate Pro Rata in Future Rounds:	  	Holders will have a pro rata right, based on their percentage equity ownership in the Company (assuming the conversion of all outstanding Preferred Stock into Common Stock and the exercise of
all options outstanding under the Company’s stock plans), to participate in subsequent issuances of equity securities of the Company.
		
	Board of Directors:	  	At the closing of the issuance of the Series C Preferred, the Board shall consist of five members, which shall include one Series C Director.
		
	Transferability:	  	The Series C Preferred shall not be transferable without the Company’s consent or an opinion of the Company’s counsel that such transfer is otherwise exempt from registration under
the federal securities laws.

  

 3China Gengsheng Minerals Inc: Exhibit 10.1 - Prepared by TNT Filings Inc.

  

Exhibit 10.1 

WORKING CAPITAL LOAN AGREEMENT 

(English Summary Translation) 

2007 ZhengGongYin No. 0023 

	Borrower:	Henan Gengsheng Refractories Co., Ltd (the
    "Borrower")
	Legal Address:	No.88, Dayugou Town, Gongyi City
	Representatives	Shunqing Zhang
	 	 
	Lender:	China Industrial & Commercial Bank, Zhengzhou
    Branch, (the "Lender"),
	Address:	No. 34 Huayuan Road Zhengzhou City
	Representatives	Weimin Rong

According to applicable laws and regulations of the People's
Republic of China (the "PRC"), the Borrower and Lender hereby enter into this
agreement pursuant to Borrower's application to Lender for using in the purpose
of loan indicated in Item 2.1 a short term loan (the "Loan"). 

1. Loan Type 

1.1 This agreement is the Short-or-medium term Working Capital Loan Agreement
(the "Loan Agreement"). 

2. Purpose of Loan 

2.1. The purpose of the Loan is for the purchase of raw materials. 

2.2. The Borrower is not eligible to modify the Loan purpose without the consent
of the Lender in written. 

3. The Amount of Loan and the Loan Term 

3.1. The amount of the Loan is RMB 20,000,000 (approximately US$ 2.94
million). 

3.2. The Loan is for a term of 11 months starting from December 31, 2008 and
ending on November 23, 2009. 

4. Interest Rate and Interest Calculation 

4.1. The Loan interest rate is calculated on a daily
basis based on the actual withdrawal amount and the outstanding days from the
withdrawal date. 

4.2. The RMB Loan interest rate is a floating Interest Rate, (upward/down)
floating upward to 15%. The executed annual interest rate is 6.1065%.
The interest rate can be adjusted on monthly basis. 

4.3. The Lender shall send the written notice to the Borrower for any adjustment
of interest rate within 30 days from the adjusted date. 

4.4. The interested rate shall be accordingly adjusted based on any new
adjustment regulated by the People's Bank of China. 

5. The Fund Source and the Method of Repayment 

5.1 The Borrower shall repay the Loan through the following suggested fund
source but not limited to: 

5.1.1. Sales revenues and net profits 

5.1.2. Any fund that can be legally used 

5.2. The Borrower shall pay the full interest timely and
repay the principal in 3 installments on the following suggested dates: 

5.2.1. RMB 3,000,000, May 29, 2009

5.2.2. RMB 4,000,000, August 31, 2009 

5.2.3. RMB 13,000,000, November 23, 2009 

6. Guarantee 

6.1 The Loan specified hereunder shall be guaranteed through
a joint and several liabilities. 

6.2 The Borrower shall assist the execution of Guarantee
Contract filed as the 2008 ZhengGongYin No. 0023 Guaranty Contract entered by
the Lender and the guarantor (the "Guarantor"). 

6.3. The borrower undertakes to provide a new guaranty
approved by the Lender promptly upon occurrence or anticipated occurrence of any
event which imposes a material adverse effect on the financial condition and
ability to implement the guarantee duty by the guarantor. 

7. Rights and Obligations of the Borrower and Lender

7.1. The Borrower's: 

7.1.1. The Borrower shall compensate
the loss of the Lender's expected profits if the Borrower repays the Loan before
the above designated dates. 

7.1.2. The Borrower shall only use the fund according to the contracted purpose.

7.1.3. Unless the Borrower provides notice in writing to the Lender 30 days in
advance and obtains the Lender's consent, the Borrower shall not, before paying
off the principal and interest, engage in sub-contracting, leasing, equity
restructuring, pooling, consolidating, merging, splitting, joint investment,
capital transferring, filing for restructuring, filing for dissolution, filing
for bankruptcy, and any other actions which may affect the realization of
Lender's rights. 

7.1.4. The Borrower undertakes to inform the Lender in writing (1) within 7 days
of knowing any changes in the Borrower's address, scope of business, mailing
address, legal representative, and any events related to the business
registration; (2) within 5 days from the date that a material adverse event such
as a license revocation, bankruptcy, and discontinuation of the Borrower's
business occurs. 

7.2. The Lender's 

7.2.1. The Lender is eligible to
claim for the credit penalty to related authorities or claim to the media for
the repayment while the Borrower intentionally avoid its duties of payment of
the principal and interests. 

7.2.2. The Lender shall not disclose the information regarding debt, assets,
operations, and operations provided by the Borrower, except those agreed by both
parties or under legal requirement. 

8. Default Liability 

8.1. The Lender is eligible to enforce the agreement and
require certain interests according the contracted terms of repayment if the
Borrower repays the Loan before the contracted terms. 

8.2. The Lender is legible to deduct the repayment under the
Borrower’s industrial and commercial bank accounts opened in China when the
Borrower does not repay the loan upon maturity. The Lender shall increase the
interest rate by 50% (30%-50%) of the current annual interest rate for the
penalty of late payment if the Borrower does not repay the Loan at the maturity
date. The Borrower will also be required to pay 50% interest on the interest for
this delinquency. 

8.3. The Lender has the right to require the Borrower to
return the funds or to terminate the agreement if the Borrower uses the funds
for other than the contracted purpose. The Lender shall penalize the Borrower to
pay an additional 100% (50%-100%) of the original interest rate as the penalty
for fraudulent use of the funds from the date of violation, and the Borrower
will need to pay the interests at an additional 100 % (50%-100%) of the original
rate. 

8.4. The Lender shall require the partial or full refund of
the issued Loan if the Borrower does not provide any remedies within 7 days to
meet the requirements of the Lender due to any of the following violation: 

8.4.1. If the Borrower provides
fraudulent financial statements or deceptive material financial information. 

8.4.2. If the Borrower rejects the supervision of the Lender regarding use of
the funds and financial activities. 

8.4.3. If the Borrower conducts or intends to operate any equity transfer
transactions or dispose of its assets. 

9. Effectiveness, modification, and termination 

9.1. The Loan Agreement shall come into effect upon the
signature (or seal) by the legal representatives (responsible persons) or
authorized representatives of both parties, with their respective official seals
affixed hereto. 

9.2. The Lender shall be eligible to terminate the Loan
Agreement and require the Borrower repays the loan and all the loss compensation
in advance due to any of the following conditions: 

9.2.1. The Borrower engages in
closing, cession of operation or for restructuring, revocation of business
licenses. 

9.2.2. The Borrower fails to provide new guarantee when any adverse events
occurs to the Guarantor resulting in the failure of guarantee. 

9.2.3. The Borrower fails to repay the loan, uses the loan beyond the contracted
purpose, fails to repay interests, or other material violations. 

9.3 Unless the Borrower shall provide notice in writing to
the Lender 30 days in advance for the extension of maturity along with the
consent of extension of guarantee provide by the Guarantor and obtains the
Lender's consent, the Loan Agreement shall not be extended. The terms of the
Loan agreement shall be binding until the consents extensions sought by both
parties. 

9.4. Upon the effectiveness, neither party shall alternate or
terminate the Loan Agreement in advance. Either party shall notify another party
in writing regarding any changes to the Loan Agreement and obtain the agreement
in terms of changes. Before the agreements reached by both parties, the terms of
the Loan Agreement shall be still binding. 

10. Disputes Settlement 

Any dispute arising from this Contract should be resolved
through mutual consultations. Either party shall be legible to bring the claims
to People court where the Lender is located. 

11. Others 

11.1. The Borrower (other debtors) shall entirely and
precisely discloses any insider relations and transactions to the Lender. The
Lender shall be legible to pursue compensation claim according to terms of the
Loan Agreement and legal proceeding when
the Borrower fails to fulfill the above disclosure obligations or any following
adverse events occurred to the Borrower or the related parties imposing adverse
effects to the rights of the Lender of the Loan Agreement. 

11.1.1. The adverse financial
situation occurs to the Borrower’s related parties; 

11.1.2. When the Borrower or its related parties were legally penalized by the
judiciary agency, taxation agency, and commerce and administrative agencies; 

11.1.3. The control relations between the Borrower and its related parties have
been changed; 

11.1.4. Any material economic disputes, litigation, and arbitrations occurred to
the Borrower’s related parties; 

11.1.5. Any investigation occurred to the Borrower’s major investors,
re-arrangement of executive members, and possible criminal claims resulting in
the restriction of freedom. 

11.1.6. Any events occurred to the Borrower’s related parties imposing material
adverse influence to the Borrower. 

The related parties are defined as
the parent company of the Borrower, the subsidiaries of the Borrower, the
subsidiaries owned by the Borrower’s parent company, the controlling shareholder
of the Borrower, the major investor of the Borrower, the joint-venture of the
Borrower, the co-operating companies of the Borrower, and the family members or
the major (controlling) investors of the Borrower. 

12. Supplementary Provisions 

12.1. Any supplemental related documents and materials are
inseparable components of this Loan Agreement and have the same legal effect as
this Loan Agreement. 

12.2. This Loan Agreement has two originals, which are
identical to each other, with each of the parties holding one copy. There are
several duplicates for future reference. 

	Borrower:	Lender:
	Henan Gengsheng
    Refractories Co., Ltd	China Industrial &
    Commercial Bank, Zhengzhou Branch
	(Official Corporate
    Seal)	(Official Corporate
    Seal)
	/s/Shunqing ZHANG	/s/Weimin Rong
	Date: December 31,
    2008	Date: December 31,
    2008

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