Unassociated Document


    Exhibit
      10.15

    


    PROMISSORY
      NOTE

    


    Date:

    


    May
      28,
      2008

    


    Borrower:

    


    Chardan
      2008 China Acquisition Corp.

    Suite
      18E, Tower A

    Oriental
      Kenzo Plaza

    48
      Dongzhimenwai Street

    Beijing,
      100027, 

    China

    


    Lender:

    


    Mr.
      Kerry
      S. Propper

    


    Principal
      Amount:

    


    $12,500.00

    


    1. FOR
      VALUE RECEIVED,
      Chardan
      2008 China Acquisition Corp. (the “Borrower”)
      promises to pay to Mr. Kerry S. Propper (the “Lender”),
      at
      such address as may be provided in writing to the Borrower, the principal sum
      of
      twelve thousand five hundred dollars ($12,500.00), without interest, in lawful
      money of the United States of America or such lesser amount, as the case may
      be,
      equal to the funds advanced by the Lender to or on behalf of the Borrower (the
      “Note”).
      Documentation to substantiate all amounts advanced to or on behalf of the
      Borrower pursuant to this Note shall be attached hereto as such funds are so
      advanced.

    


    2. This
      Note
      will be repaid in full on the earlier of September 30, 2008 and the date on
      which the Borrower consummates an initial public offering of its
      securities.

    


    3. At
      any
      time, the Borrower may pay the outstanding balance then owing under this Note
      to
      the Lender without premium or penalty.

    


    4. This
      Note
      will be construed in accordance with and governed by the laws of the State
      of
      New York, without regard to conflicts of laws principles thereof.

    


    5. If
      any
      term, covenant, condition or provision of this Note is held by a court of
      competent jurisdiction to be invalid, void or unenforceable, it is the intent
      of
      the parties to this Note that such provision be reduced in scope by the court
      only to the extent deemed necessary by that court to render the provision
      reasonable and enforceable and the remainder of the provisions of this Note
      will
      in no way be affected, impaired or invalidated as a result.

    


    6. All
      costs, expenses and expenditures including, and without limitation, the
      reasonable legal costs incurred by the Lender in enforcing this Note as a result
      of any default by the Borrower , will be added to the principal then outstanding
      and will immediately be paid by the Borrower.

    


    7. The
      Lender may not assign this Note or any interest in this Note, if
      any.

    


    8. This
      Note
      will inure to the benefit of and be binding upon the respective heirs,
      executors, administrators and successors of the Borrower and the Lender. The
      Borrower waives presentment for payment, notice of non-payment, protest and
      notice of protest.

    


    
      
        
        

      

      
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    IN
      WITNESS WHEREOF,
      Chardan
      2008 China Acquisition Corp., intending to be legally bound hereby, has caused
      this Promissory Note to be duly executed by the authorized officer named below
      on the date written above.

    


    Chardan
      2008 China Acquisition Corp.

     

    
      	
              By:
                

            	     



    

    Name:
      Xiaosong Zhong

    Title:
      Chief Financial Officer

    


    Confirmed
      by:

     

    
      	
              By:
                

            	     



    

    Name:
      Kerry S. Propper

     

    
      
        
        

      

      
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