--------------------------------------------------------------------------------

Exhibit 10.2
 
PROMISSORY NOTE
 

 
 

March 1, 2013 
HK$38,990,637.45

 
 

 
For value received, VelaTel Global Communications, Inc. (“Maker”) promises to
pay to the order of China Motion Holdings Limited and ChinaMotion InfoServices
Limited (collectively “Holder”) the principal sum of HK$37,490,637.45, plus
interest accrued thereon in an aggregate sum of HK$1,500,000, with installments
as follows:
 
HK$4,650,000 on or before May 31, 2013; and
 
the balance of HK$34,340,637.45  on or before August 31, 2013.
 
Maker may prepay all or any portion of the amount due at any time without
penalty, in which case payments shall be applied first to interest accrued and
then to unpaid principal.
 
If not previously paid, the entire remaining principal balance plus all interest
accrued shall be due and payable in full on August 31, 2013 (“Maturity”).
 
This Promissory Note is secured by a pledge of 378,467,031 ordinary shares of
China Motion Telecom (HK) Limited, pursuant to a Stock Pledge Agreement of even
date hereof.
 
This Promissory Note is made and shall be governed by, and construed and
enforced in accordance with, the laws of Hong Kong, without regard to the
conflict of laws principles thereof as the same apply to agreements executed
solely by residents of Hong Kong and wholly to be performed within Hong Kong.
 
 

 
VELATEL GLOBAL COMMUNICATIONS, INC.
         
 
By:
/s/ Colin Tay        Colin Tay, its President   

 

 
 
 

--------------------------------------------------------------------------------