Promissory Note issued to 2020 International  Capital Group Limited



 EXHIBIT 10.15 
 PROMISSORY NOTE 
 $80,000.00 
 Marlborough, Massachusetts 
 2020 CHINACAP ACQUIRCO, INC., a Delaware corporation (the
“Maker”) promises to pay to the order of 2020 INTERNATIONAL CAPITAL GROUP LIMITED, a Cayman Islands company (the “Payee”) the principal sum of Eighty Thousand Dollars and No Cents ($80,000.00) in lawful money of the United States
of America on the terms and conditions described below. 
 1.        PRINCIPAL. All principal outstanding under this
Note shall be due and payable on the earlier of (i) April 5, 2008 and (ii) the completion of an initial public offering of Maker’s equity securities. 
 2.        INTEREST. The principal balance of this Note shall not bear interest. 
 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 occurrence of any of the following events shall constitute an Event 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) or 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
or (iv) sent by telefacsimile, to the following addresses or to such other address as either party may designate by notice in accordance with this Section: 
 If to Maker: 
 2020 ChinaCap Acquirco, Inc. 
 221
Boston Post Road East 
 Suite 410 
 Marlborough, MA 01752

  

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 If to Payee: 
 2020
International Capital Group Limited 
 Attn: Louis Koo 
 1503
Ruttonjee House 
 11 Duddell Street, Central 
 Hong Kong

 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 reflected on a signed delivery receipt, or (iv) two (2) business days following tender of delivery or dispatch by express mail or delivery service. 
 9.        CONSTRUCTION. This Note shall be construed and enforced in accordance with the domestic internal laws of the State of
Delaware. 
 10.        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 President as of the 6th day of April 2007. 
  

			
	2020 CHINACAP ACQUIRCO, INC.
		
		 	 /s/G. George Lu

		 	By: G. George Lu
		 	Its: President


  

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