Document:

Unassociated Document

    Exhibit
10.2

    

    PROMISSORY
NOTE

    

    
      
        
          	
                  $3,310.00

                	
                  April
      1, 2010

                

        

      

    

    

    FOR VALUE RECEIVED, and intending to be
legally bound, Pantheon China Acquisition Corp. III (the “Maker”), hereby
unconditionally and irrevocably promises to pay to the order of Jennifer J. Weng
(the “Payee”), in lawful money of the United States of America, the sum of three
thousand three hundred and ten dollars ($3,310.00) on or before the earlier of
(i) April 1, 2012 or (ii) the date that the Maker (or a wholly owned subsidiary
of the Maker) consummates a merger or similar transaction with an operating
business (the “Maturity Date”).

    

    This Promissory Note is non-interest
bearing, and shall be due and payable at the Maturity Date, or the prepayment
date, if any, whichever is earlier. This Promissory Note may
be prepaid in whole or in part at any time or from time to time prior to the
Maturity Date.

    

    For purposes of this Promissory Note,
an "Event of Default" shall occur if the Maker shall: (i) fail to pay the entire
principal amount of this Promissory Note when due and payable, (ii) admit in
writing its inability to pay any of its monetary obligations under this
Promissory Note, (iii) make a general assignment of its assets for the benefit
of creditors, or (iv) allow any proceeding to be instituted by or against it
seeking relief from or by creditors, including, without limitation, any
bankruptcy proceedings.

    

    In the event that an Event of Default
has occurred, the Payee or any other holder of this Promissory Note may, by
notice to the Maker, declare this entire Promissory Note to be forthwith
immediately due and payable, without presentment, demand, protest or further
notice of any kind, all of which are hereby expressly waived by the
Maker.  In the event that an Event of Default consisting of a
voluntary or involuntary bankruptcy filing has occurred, then this entire
Promissory Note shall automatically become due and payable without any notice or
other action by Payee.

    

    The nonexercise or delay by the Payee
or any other holder of this Promissory Note of any of its rights hereunder in
any particular instance shall not constitute a waiver thereof in that or any
subsequent instance.  No waiver of any right shall be effective unless
in writing signed by the Payee, and no waiver on one or more occasions shall be
conclusive as a bar to or waiver of any right on any other
occasion.

    

    Should any part of the indebtedness
evidenced hereby be collected by law or through an attorney-at-law, the Payee or
any other holder of this Promissory Note shall, if permitted by applicable law,
be entitled to collect from the Maker all reasonable costs of collection,
including, without limitation, attorneys’ fees.

    

    All notices and other communications
must be in writing to the address of the party set forth in the first paragraph
hereof and shall be deemed to have been received when delivered personally
(which shall include via an overnight courier service) or, if mailed, three (3)
business days after having been mailed by registered or certified mail, return
receipt requested, postage prepaid. The parties may designate by notice to each
other any new address for the purpose of this Promissory Note.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    Maker hereby forever waives
presentment, demand, presentment for payment, protest, notice of protest, and
notice of dishonor of this Promissory Note and all other demands and notices in
connection with the delivery, acceptance, performance and enforcement of this
Promissory Note.

    

    This Promissory Note shall be binding
upon the successors and assigns of the Maker, and shall be binding upon, and
inure to the benefit of, the successors and assigns of the Payee.

    

    This Promissory Note shall be governed
by and construed in accordance with the laws of Cayman Islands.

    

    IN WITNESS WHEREOF, the undersigned
Maker has executed this Promissory Note as of April 1, 2010.

    

    
      
        
          
            	
                    MAKER:

                  
	 
      
	
                    PANTHEON
      CHINA ACQUISITION CORP. III

                  
	 
      	 
      
	
                    By:

                  	/s/
      Charles Allen
	 
      	
                    Name:
      Charles Allen

                  
	 
      	
                    Title:
      Director

                  

          

        

      

    

    
      
         

      

      
        2Unassociated Document

     

    
      GENERAL RELEASE AND
SETTLEMENT AGREEMENT

       

      THIS
GENERAL RELEASE AND SETTLEMENT AGREEMENT (“Agreement”), which shall be deemed
effective upon full
execution by each of the signatories between, on one hand, Nu Horizons
Electronics Corporation (“Nu Horizons”); and on the other hand, Lazar, Levine
& Felix, LLP, Nazeleen Sataur, Amiram Bielory, Michael Dinkes, and
ParenteBeard LLC  (collectively “the LLF Parties”).

       

      RECITALS

       

      WHEREAS,
Nu Horizons is the Claimant and the LLF Parties are the Respondents in an
arbitration proceeding with the American Arbitration Association (“AAA Action”),
No. 131 07 Y 00118109;

       

      WHEREAS,
all the Respondents in the AAA Action have generally denied liability;
and

       

      WHEREAS,
the Claimant and the Respondents in the AAA action desire to resolve all claims
that were asserted or could have been asserted in the AAA Action, without the
cost, uncertainty, and delay of further litigation.

       

      NOW,
THEREFORE, in consideration of the respective covenants, undertakings,
representations and conditions hereinafter set forth, and intending to be
legally bound, the parties hereto agree as follows:

       

      1.   Payment to Nu
Horizons.  The LLF Parties shall cause to be paid, on or before
October 4, 2010, to Nu Horizons the total sum of one million nine hundred
thousand United States Dollars ($1.9 million) in immediately available funds
(the “Settlement Payment”).

       

      
        
           

        

        
           

          
            

          

        

        
           

        

         

      

      2.   Releases.

       

      (a)   Upon
receipt of the Settlement Payment, Nu Horizons and its past and present
shareholders, subsidiaries, affiliates, agents, employees, officers, attorneys,
successors and assigns (the “Nu Horizons Releasing Entities”), absolutely and
forever discharge and release each and all of the LLF Parties, together with
each of their past and present shareholders, subsidiaries, affiliates, agents,
employees, officers, attorneys, insurers, successors and assigns of and from any
and all claims, actions, causes of action, proceedings, contracts, judgments,
obligations, suits, debts, dues, sums of money, accounts, reckonings, bonds,
bills, covenants, trespasses, damages, demands, agreements, promises,
liabilities, controversies, costs, expenses, attorneys’ fees and losses
whatsoever, whether in law or in equity and whether based on any federal law,
state law, common law right of action or otherwise, foreseen or unforeseen,
matured or unmatured, known or unknown, accrued or not accrued, that the Nu
Horizons Releasing Entities ever had, now have, or ever may have, from the
beginning of the world to the date of this Agreement, that relate to the claims
that were or could have been asserted in the AAA Action.

       

      
        
           

        

        
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      (b)   Upon
receipt of the Settlement Payment, each of the LLF Parties and their past and
present shareholders, subsidiaries, affiliates, agents, employees, officers,
attorneys, successors and assigns (the “LLF Releasing Entities”), absolutely and
forever discharge and release Nu Horizons and each of its past and present
shareholders, subsidiaries, affiliates, agents, employees, officers, attorneys,
insurers, successors and assigns of and from any and all claims, actions, causes
of action, proceedings, contracts, judgments, obligations, suits, debts, dues,
sums of money, accounts, reckonings, bonds, bills, covenants, trespasses,
damages, demands, agreements, promises, liabilities, controversies, costs,
expenses, attorneys’ fees and losses whatsoever, whether in law or in equity and
whether based on any federal law, state law, common law right of action or
otherwise, foreseen or unforeseen, matured or unmatured, known or unknown,
accrued or not accrued, that the LLF Releasing Entities ever had, now have, or
ever may have, from the beginning of the world to the date of this Agreement,
that relate to the claims that were or could have been asserted in the AAA
Action.

       

      (c)   Having
been fully advised by their respective counsel, it is the intention of Nu
Horizons and the LLF Parties that, notwithstanding the possibility that they or
their counsel may discover or gain a more complete, different or contrary
understanding of the facts, events or law which, if presently known or fully
understood, would have affected the foregoing releases, this Agreement shall be
deemed to have fully, finally and forever settled any and all claims encompassed
by the releases set forth herein, without regard to the subsequent discovery or
existence of different, contrary or additional facts, events or
law.

       

      3.   No Admission of
Liability.  Neither the negotiation, nor the terms, conditions
and other provisions nor the performance of this Agreement shall be (a) deemed
or construed in any manner whatsoever to be an admission as to the merit or lack
of merit of any claim or defense in the AAA Action; or (b) used by any party for
any purpose other than the enforcement of the provisions hereof and/or the
releases provided for herein.

       

      
        
           

        

        
          3

          
            

          

        

        
           

        

         

      

      4.   Confidentiality.  The
parties agree that the terms of this Agreement, all matters relating to the
subject matter of this Agreement, including transcripts, exhibits, and discovery
materials relating to the AAA Action, shall be kept confidential and should not
be disclosed to any third-party at any time except (and only to the minimum
extent) as required by applicable law.  Moreover, the terms of this
Agreement and all the matters relating to the subject matter of this Agreement
may not be used or disclosed in any Court, arbitration, or other legal
proceeding except to enforce provisions of this Agreement.

       

      5.   Non-Disparagement.   Nu
Horizons, on the one hand, and each of the LLF Parties, on the other hand, each
for themselves and their respective principals, shareholders, members, parents,
subsidiaries, employees, agents, predecessors, successors and assigns covenant
and agree that they will not make any subjective remarks or disparaging comments
about the other or the other’s past or present principals, shareholders,
members, parents, subsidiaries, employees, agents, predecessors, successors and
assigns.

       

      6.   Default
Remedies.  Upon a default by any party of its respective
obligations under this Agreement, including but not limited to the payments
identified in paragraph 1, above, any other party to this Agreement may commence
an action under this Agreement seeking to enforce this
Agreement.  Costs and expenses of suit including reasonable attorneys’
fees shall be payable to the prevailing party.

       

      
        
           

        

        
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      7.   Miscellaneous.  This
Agreement shall be governed by and construed in accordance with the laws of the
State of New York, without giving effect to that State’s conflict of laws
provisions.  Further, the parties give their consent to exclusive
jurisdiction in any state or federal court in the State of New
York.  This Agreement will be construed as if all parties prepared it,
and no rule of construction relating to the identity of the drafting party shall
apply.  The paragraph headings contained in this Agreement are for
convenience of reference only and shall not affect the interpretation or
construction of this Agreement.  No failure or delay in exercising any
right, power or privilege hereunder shall operate as a waiver thereof, nor shall
any single or partial exercise thereof preclude any other or further exercise
thereof or the exercise of any other right, power or privilege
hereunder.  All prior statements, representations, understandings and
agreements between Nu Horizons and any of the LLF Parties relating to the
subject matter hereof are superseded by this Agreement, which fully and
completely expresses their agreement.  No party is relying on a
representation of any kind that is not expressly stated in this
Agreement.  This Agreement may not be modified, changed, or amended
orally.  This Agreement may be executed in multiple counterparts
and/or by facsimile or electronic transmission, each of which, when so executed
and delivered, shall be an original but such counterparts shall together
constitute one and the same instrument and agreement.

       

      8.   All
expenses related to the arbitration proceeding itself, including without
limitation the amounts payable to AAA and the amounts payable for transcription
of the proceedings, will be divided equally between, on one hand, Nu Horizons;
and on the other hand, the LLF Parties.

       

      
        
           

        

        
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      IN WITNESS WHEREOF and intending to be
legally bound, the parties hereto have signed and executed this
Agreement.

       

      

      
        	
                NU
      HORIZONS ELECTRONICS CORPORATION

                 

                 

                By:           s/
      Kurt Freudenberg

                 

                 

                Date:  9-14-2010

              	
                LAZAR,
      LEVINE & FELIX, LLP

                 

                 

                By:           s/Henry
      Guberman

                 

                Date:                       9/14/10                                        

                 

              
	 
      	
                AMIRAM
      BIELORY

                 

                 

                By:           s/Amiram
      Bielory

                 

                Date:                       9/14/10                                        

                 

              
	 
      	
                MICHAEL
      DINKES

                 

                 

                By:           s/Michael
      Dinkes

                 

                Date:                       9/14/10                                        

                 

              
	 
      	
                NAZELEEN
      SATAUR

                 

                 

                By:           s/Nazeleen
      Sataur

                 

                Date:                       9/14/10                                        

                 

              
	 
      	
                PARENTEBEARD
      LLP

                 

                 

                By:           s/
      Philip Santarelli

                 

                 

                Date:
      September 14, 2010

              

      

       

      
        
           

        

        
          6

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