Document:

Form of Warrant Agreement

 EXHIBIT 4.5 
 WARRANT AGREEMENT 
 This Warrant Agreement (this “Agreement”) is made as of
                    , 2007 by and between 2020 ChinaCap Acquirco, Inc., a Delaware corporation (the “Company”) and Continental Stock
Transfer & Trust Company, a New York corporation, with offices at 17 Battery Place, New York, New York 10004 (hereinafter referred to as the “Warrant Agent”). 
 WHEREAS, the Company is engaged in a public offering (the “Public Offering”) of its units (the “Units”), each Unit
consisting of one share of common stock, par value $.001 per share (“Common Stock”) and one warrant, each warrant to purchase one share of Common Stock for $5.50, subject to adjustment as described herein. In connection therewith, the
Company (a) will issue and deliver up to (i) 7,500,000 Warrants (“Public Warrants”) to the public investors and (ii) 550,000 Warrants to Morgan Joseph & Co. Inc. (“Morgan Joseph”) or its designee
(“Representative’s Warrants”) and (b) will issue and deliver pursuant to a Warrant Purchase Agreement dated
                    , 2007 (the “Warrant Purchase Agreement”) between the Company and Win Wide International Ltd., an international
business company incorporated under the laws of the British Virgin Islands ( “Win Wide”) in a private placement, which will occur simultaneously with the consummation of the Public Offering, an aggregate of 2,000,000 warrants to be
purchased by Wind Wide, each warrant evidencing the right of the holder thereof to purchase one share of the Common Stock for a price of $5.50 (“Insider Warrants” and together with the Public Warrants and Representative’s Warrants,
the “Warrants”); and 
 WHEREAS, the Company has filed with the Securities and Exchange Commission (the
“SEC”) a Registration Statement on Form S-1, No. 333-142255 (the “Registration Statement”), for the registration, under the Securities Act of 1933, as amended (“Act”) of, among other securities, the Warrants and
the Common Stock issuable upon exercise of the Warrants; and 
 WHEREAS, the Company desires the Warrant Agent to act on
behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and 
 WHEREAS, the Company desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and
exercised, and the respective rights, limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants; and 
 WHEREAS, all acts and things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company and countersigned by or on behalf of the Warrant Agent, as provided herein,
the valid, binding and legal obligations of the Company, and to authorize the execution and delivery of this Agreement. 
 NOW, THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree as follows: 
 1.  Appointment of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company for the Warrants, and the Warrant Agent hereby accepts such appointment and agrees to perform the
same in accordance with the terms and conditions set forth in this Agreement. 
 2.  Warrants.

 2.1.      Form of Warrant. Each Warrant shall be issued in registered form only,
shall be in substantially the form of “Exhibit A” hereto, the provisions of which are incorporated herein and shall be signed by, or bear the facsimile signature of, the Chairman of the Board or Chief Executive Officer of the Company and
shall bear a facsimile of the Company’s seal. In the event the person whose facsimile signature has been placed upon any Warrant shall have ceased to serve in the capacity in which such person signed the Warrant before such Warrant is issued,
it may be issued with the same effect as if he or she had not ceased to serve in such capacity at the date of issuance. 
  

 2.2.       Effect of Countersignature. Unless and
until countersigned by the Warrant Agent pursuant to this Agreement, a Warrant shall be invalid and of no effect and may not be exercised by the holder thereof. 
 2.3.       Registration. 
     2.3.1. Warrant Register. The Warrant Agent shall maintain books for registration of the original issuance and the registration of transfer of the Warrants (the “Warrant Register”). Upon the initial
issuance of the Warrants, the Warrant Agent shall issue and register the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions delivered to the Warrant Agent by the Company

     2.3.2. Registered Holder. Prior to due presentment for registration of transfer of any
Warrant, the Company and the Warrant Agent may deem and treat the person in whose name such Warrant shall be registered upon the Warrant Register (the “Registered Holder”) as the absolute owner of such Warrant and of each Warrant
represented thereby (notwithstanding any notation of ownership or other writing on the Warrant Certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise thereof, and for all other purposes, and neither
the Company nor the Warrant Agent shall be affected by any notice to the contrary. 
 2.4.      Detachability of Warrants. The Warrants and Common Stock comprising the Units will not be separately transferable until ninety (90) days after the effective date of the Registration
Statement unless Morgan Joseph informs the Company of its decision to allow earlier separate trading, but in no event will Morgan Joseph allow separate trading of the Warrants and Common Stock comprising the Units until the Company files a Current
Report on Form 8-K which includes an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Public Offering, including the proceeds received by the Company from the exercise of the Representative’s
over-allotment option, if the over-allotment option is exercised prior to the filing of the Form 8-K (such date being referred to herein as the “Detachment Date”). 
 2.5.      Public Warrants. Insider Warrants and Representatives’ Warrants. The
Representative’s Warrants shall have the same terms and be in the same form as the Public Warrants. The Insider Warrants shall have the same terms and be in the same form as the Public Warrants, except that the Insider Warrants are exercisable
on a cashless basis as provided in Section 3.3.1 hereof. 
  

	 3.
	 Terms and Exercise of Warrants  

 3.1.      Warrant Price. Each Warrant shall, when countersigned by the Warrant Agent, entitle the registered holder thereof, subject to the provisions of such
Warrant and of this Warrant Agreement, to purchase from the Company the number of shares of Common Stock stated therein, at the price of $5.50 per whole share, subject to the adjustments provided in Section 4 hereof and in the last
sentence of this Section 3.1. The term “Warrant Price” as used in this Warrant Agreement refers to the price per share at which Common Stock may be purchased at the time a Warrant is exercised, provided that any such adjustment
shall be identical in percentage terms among all of the Warrants. The Company in its sole discretion may lower the Warrant Price at any time prior to the Expiration Date; provided, that any such reduction shall be identical in percentage terms among
all of the Warrants, and provided, further, that any reduction in Warrant Price must remain in effect for at least ten (10) business days. 
 3.2.      Duration of Warrants. A Warrant may be exercised only during the period (the “Exercise Period”) commencing on the later of (i) the consummation by the
Company of a merger, capital stock exchange, asset or stock acquisition or other similar business combination, as described more fully in the Company’s Registration Statement (a “Business Combination”) or
(ii)             , 2008, [one year from date of prospectus] and terminating at 5:00 p.m., New York City time on the earlier to occur of
(i)             , 2012 [five years from date of prospectus] or (ii) the date fixed for redemption of the Warrants as provided in Section 6 of this
Agreement (the “Expiration Date”). Except with respect to the right to receive the Redemption Price (as set forth in Section 6 hereunder), each Warrant not exercised on 

 
or before the Expiration Date shall become void, and all rights thereunder and all rights in respect thereof under this Agreement shall cease at the close of
business on the Expiration Date. The Company in its sole discretion may extend the duration of the Warrants by delaying the Expiration Date, provided that any such extension shall be identical in duration among all of the Warrants. Should the
Company wish to extend the Expiration Date of the Warrants, the Company shall provide advance notice to the American Stock Exchange as required by the American Stock Exchange. 
 3.3.      Exercise of Warrants. 
 3.3.1.      Exercise Procedure and Payment. Subject to the provisions of the Warrants and this Agreement, a Warrant, when countersigned by the Warrant Agent, may be exercised by the Registered Holder
thereof by surrendering it, at the office of the Warrant Agent in the Borough of Manhattan, City and State of New York, with the subscription form, as set forth in the Warrant, duly executed, and by paying in full, in lawful money of the United
States, in cash, good certified check or good bank draft payable to the order of the Company, the Warrant Price for each full share of Common Stock as to which the Warrant is exercised and any and all applicable taxes due in connection with the
exercise of the Warrant, the exchange of the Warrant for the Common Stock and the issuance of the Common Stock. Provided that the Insider Warrants are held by Insiders or their affiliates at the time of such exercise, in the event of a redemption of
Warrants pursuant to Section 6 hereof, the Insider Warrants may be exercised on a “cashless basis” by surrendering the Insider Warrants for that number of shares of Common Stock equal to the quotient obtained by dividing (a) the
product of the number of shares of Common Stock underlying the Warrants multiplied by the difference between the Warrant Price and the “Fair Market Value” (defined below) by (b) the Fair Market Value. Solely for purposes of this
Section 3.3.1, the “Fair Market Value” shall mean the average reported last sale price of the Common Stock for the ten (10) trading days ending on the third trading day prior to the date on which the notice of redemption is sent
to holders of Warrants pursuant to Section 6 hereof. 
     3.3.2.  Issuance of
Certificates. As soon as practicable after the exercise of any Warrant and the clearance of the funds in payment of the Warrant Price, the Company shall issue to the Registered Holder of such Warrant a certificate or certificates for the number
of full shares of Common Stock to which the Registered Holder is entitled, registered in such name or names as may be directed by the Registered Holder, and if such Warrant shall not have been exercised in full, a new countersigned Warrant for the
number of shares as to which such Warrant shall not have been exercised. Notwithstanding the foregoing, the Company shall not be obligated to deliver any securities pursuant to the exercise of a Warrant unless (i) a registration statement under
the Act with respect to the Common Stock issuable upon such exercise is effective or (ii) in the opinion of counsel to the Company, the exercise of the Warrants is exempt from the registration requirements of the Act and such securities are
qualified for sale or exempt from qualification under applicable securities laws of the states or other jurisdictions in which the Registered Holders reside. Warrants may not be exercised by, or securities issued to, any Registered Holder in any
state in which such exercise or issuance would be unlawful. In no event will the Registered Holder of a Warrant be entitled to receive a net-cash settlement or other consideration in lieu of physical settlement in shares of Common Stock if the
Common Stock underlying the Warrants is not covered by an effective registration statement. Accordingly, the Warrants may expire unexercised and worthless if a current registration statement covering the Common Stock is not effective. 
     3.3.3.  Valid Issuance. All shares of Common Stock issued upon the proper exercise of a
Warrant in conformity with this Agreement shall be validly issued, fully paid and nonassessable. 
     3.3.4.  Date of Issuance. Each person in whose name any such certificate for shares of Common Stock is issued shall for all purposes be deemed to have become the holder of record of such shares
on the date on which the Warrant was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of such certificate, except that, if the date of such surrender and payment is a date when the stock transfer books of
the Company are closed, such person shall be deemed to have become the holder of such shares at the close of business on the next succeeding date on which the stock transfer books are open. 
 4.  Adjustments. 

 4.1.      Stock Dividends—Split-Ups. If after
the date hereof, and subject to the provisions of Section 4.6 below, the number of outstanding shares of Common Stock is increased by a stock dividend payable in shares of Common Stock, or by a split-up of shares of Common Stock, or
other similar event, then, on the effective date of such stock dividend, split-up or similar event, the number of shares of Common Stock issuable on exercise of each Warrant shall be increased in proportion to such increase in outstanding shares of
Common Stock. 
 4.2.      Aggregation of Shares. If after the date hereof, and subject
to the provisions of Section 4.6, the number of outstanding shares of Common Stock is decreased by a consolidation, combination, reverse stock split or reclassification of shares of Common Stock or other similar event, then, on the
effective date of such consolidation, combination, reverse stock split, reclassification or similar event, the number of shares of Common Stock issuable on exercise of each Warrant shall be decreased in proportion to such decrease in outstanding
shares of Common Stock. 
 4.3.      Adjustments in Warrant Price. Whenever the number
of shares of Common Stock purchasable upon the exercise of the Warrants is adjusted, as provided in Section 4.1 and 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately
prior to such adjustment by a fraction (x) the numerator of which shall be the number of shares of Common Stock purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be
the number of shares of Common Stock so purchasable immediately thereafter. 
 4.4.      Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding shares of Common Stock (other than a change covered by
Section 4.1 or 4.2 hereof or that solely affects the par value of such shares of Common Stock), or in the case of any merger or consolidation of the Company with or into another corporation (other than a consolidation or merger in
which the Company is the continuing corporation and that does not result in any reclassification or reorganization of the outstanding shares of Common Stock), or in the case of any sale or conveyance to another corporation or entity of the assets or
other property of the Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the Warrant holders shall thereafter have the right to purchase and receive, upon the basis and upon the terms and
conditions specified in the Warrants and in lieu of the shares of Common Stock of the Company immediately theretofore purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount of shares of stock or other
securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the Warrant holder would have received if such Warrant holder had
exercised his, her or its Warrant(s) immediately prior to such event; and if any reclassification also results in a change in shares of Common Stock covered by Section 4.1 or 4.2, then such adjustment shall be made pursuant to
Sections 4.1, 4.2, 4.3 and this Section 4.4. The provisions of this Section 4.4 shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other
transfers. 
 4.5.      Notices of Changes in Warrant. Upon every adjustment of the
Warrant Price or the number of shares issuable upon exercise of a Warrant, the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from such adjustment and the increase or decrease, if
any, in the number of shares purchasable at such price upon the exercise of a Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon the occurrence of any event specified in
Sections 4.1, 4.2, 4.3 or 4.4, then, in any such event, the Company shall give written notice to each Warrant holder, at the last address set forth for such holder in the Warrant Register, of the record date or the
effective date of the event. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such event. 
 4.6.      No Fractional Shares. Notwithstanding any provision contained in this Warrant Agreement to the contrary, the Company shall not issue fractional shares upon exercise of
Warrants. If, by reason of any adjustment made pursuant to this Section 4, the holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share, the Company shall, upon such 

 
exercise, round up or down to the nearest whole number the number of the shares of Common Stock to be issued to the Warrant holder. 
 4.7      Extraordinary Dividend. If the Company, at any time while the Warrants are outstanding
and unexpired, shall pay a dividend in cash or securities to the holders of the Common Stock (or shares of the Company’s capital stock into which the Warrants are convertible), then upon the exercise of the Warrants, the registered holder shall
be entitled to a proportionate share of any such dividend as if the shares of Common Stock purchased upon exercise hereof by such registered holder had been purchased and outstanding on the record date fixed for the determination of the holders of
the Common Stock entitled to receive such dividend. 
 4.8.      Form of
Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and Warrants issued after such adjustment may state the same Warrant Price and the same number of shares as is stated in
the Warrants initially issued pursuant to this Agreement. However, the Company may at any time in its sole discretion make any change in the form of Warrant that the Company may deem appropriate and that does not affect the substance thereof, and
any Warrant thereafter issued or countersigned, whether in exchange or substitution for an outstanding Warrant or otherwise, may be in the form as so changed.  
 5.  Transfer and Exchange of Warrants. 
 5.1.      Transfer of Warrants. Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only together with the Unit in which such Warrant is included, and only for the purpose
of effecting, or in conjunction with, a transfer or exchange of such Unit. Furthermore, each transfer of a Unit on the register relating to such Units shall operate also to transfer the Warrants included in such Unit. From and after the Detachment
Date this Section 5.1 will have no further force and effect. 
 5.2      Registration
of Transfer. After the Detachment Date, the Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant upon the Warrant Register, upon surrender of such Warrant for transfer, properly endorsed with signatures
properly guaranteed and accompanied by appropriate instructions for transfer (taking into account the transfer restrictions set forth in Section 2.4). Upon any such transfer, a new Warrant representing an equal aggregate number of
Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent. The Warrants so cancelled shall be delivered by the Warrant Agent to the Company from time to time upon request. 
 5.3.      Procedure for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent,
together with a written request for exchange or transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested by the Registered Holder of the Warrants so surrendered, representing an equal aggregate
number of Warrants; provided, however, that in the event that a Warrant surrendered for transfer bears a restrictive legend, the Warrant Agent shall not cancel such Warrant and issue new Warrants in exchange therefor until the Warrant Agent has
received an opinion of counsel for the Company stating that such transfer may be made and indicating whether the new Warrants must also bear a restrictive legend. 
 5.4.      Fractional Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which will result in the issuance of
a warrant certificate for a fraction of a warrant. 
 5.5.      Service Charges. No
service charge shall be made for any exchange or registration of transfer of Warrants. 
 5.6.      Warrant Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with the terms of this Agreement, the Warrants required to be issued
pursuant to the provisions of this Section 5, and the Company, whenever required by the Warrant 

 
Agent, will supply the Warrant Agent with Warrants duly executed on behalf of the Company for such purpose. 
 5.7      Insider Warrants. Notwithstanding anything herein to the contrary, the Warrant Agent shall
not register for transfer any Insider Warrants until after the consummation by the Company of a Business Combination, unless and only in the event that the Warrant Agent receives a written opinion of legal counsel for the Company stating that such
transfer is permitted by Section 1.C of the Warrant Purchase Agreement. 
 6.  Redemption.

 6.1.      Redemption. Subject to Section 6.4 hereof, the Company may, at
its option, redeem not less than all of the outstanding Warrants at any time after they become exercisable and prior to their expiration, at the office of the Warrant Agent, upon the notice referred to in Section 6.2, at the price of
$.01 per Warrant (“Redemption Price”), provided that the last sales price of the Common Stock has been at least $11.50 per share (subject to adjustment in accordance with Section 4 hereof), on each of twenty (20) trading
days within any thirty (30) trading day period ending on the third business day prior to the date on which notice of redemption is given and provided, further, that there is an effective registration statement with respect to the Common Stock
to enable the exercise of the Warrants during the period specified in Section 6.3 hereof. The provisions of this Section 6.1 may not be modified, amended or deleted without the prior written consent of Morgan Joseph.

 6.2.      Date Fixed for, and Notice of, Redemption. In the event the Company shall
elect to redeem all of the Warrants, the Company shall fix a date and time for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by first class mail, postage prepaid, by the Company not less than thirty
(30) days prior to the Redemption Date to the Registered Holders of the Warrants to be redeemed at their last addresses as they shall appear on the Warrant Register. Any notice mailed in the manner herein provided shall be conclusively presumed
to have been duly given whether or not the Registered Holder received such notice. 
 6.3.      Exercise After Notice of Redemption. The Warrants may be exercised for cash (or, with respect to the Insider Warrants, on a cashless basis in accordance with Section 3.3.1 of
this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to Section 6.2 hereof and prior to the Redemption Date. On and after the Redemption Date, the record holder of the Warrants shall have
no further rights except to receive, upon surrender of the Warrants, the Redemption Price. 
 6.4.      Outstanding Warrants Only. The Company understands that the redemption rights provided for by this Section 6 apply only to outstanding Warrants. To the extent a person holds rights
to purchase Warrants, such purchase rights shall not be extinguished by redemption. However, once such purchase rights are exercised, the Company may redeem the Warrants issued upon such exercise provided that the criteria for redemption are met,
including the opportunity of the Warrant Holder to exercise prior to redemption pursuant to Section 6.3. The provisions of this Section 6.4 may not be modified, amended or deleted without the prior written consent of Morgan Joseph.

 7.  Other Provisions Relating to Rights of Holders of Warrants. 
 7.1.      No Rights as Stockholder. A Warrant does not entitle the Registered Holder thereof to any
of the rights of a stockholder of the Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights to vote or to consent or to receive notice as stockholders in respect of the
meetings of stockholders or the election of directors of the Company or any other matter. 
 7.2.      Lost, Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen, mutilated, or destroyed, the Company and the Warrant Agent may on such terms as to indemnity or 

 
otherwise as they may in their discretion impose (which shall, in the case of a mutilated Warrant, include the surrender thereof), issue a new Warrant of
like denomination, tenor, and date as the Warrant so lost, stolen, mutilated, or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated, or destroyed
Warrant shall be at any time enforceable by anyone. 
 7.3.      Reservation of Common
Stock. The Company shall at all times reserve and keep available a number of its authorized but unissued shares of Common Stock that will be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement.

 7.4      Registration of Common Stock. The Company agrees that prior to the
commencement of the Exercise Period, it shall file with the SEC a post-effective amendment to the Registration Statement, or a new registration statement, for the registration under the Act of the Common Stock issuable upon exercise of the Insider
Warrants and that it shall use its best efforts to cause such registration statement to become effective on or prior to the commencement of the Exercise Period. The Company shall take such action as is necessary to qualify for sale, in those states
in which the Warrants were initially offered by the Company, the Common Stock issuable upon exercise of Warrants. The Company shall use its best efforts to maintain the effectiveness of the Registration Statement and said new registration statement
until the expiration of the Warrants in accordance with the provisions of this Agreement. The provisions of this Section 7.4 may not be modified, amended or deleted without the prior written consent of Morgan Joseph. 
 8.  Concerning the Warrant Agent and Other Matters. 
 8.1.      Payment of Taxes. The Company will from time to time promptly pay all taxes and charges
that may be imposed upon the Company or the Warrant Agent in respect of the issuance or delivery of shares of Common Stock upon the exercise of Warrants, but the Company shall not be obligated to pay any transfer taxes in respect of the Warrants or
such shares. 
 8.2.      Resignation, Consolidation, or Merger of Warrant
Agent.
     8.2.1.  Appointment of Successor Warrant Agent. The Warrant Agent, or
any successor to it hereafter appointed, may resign its duties and be discharged from all further duties and liabilities hereunder after giving sixty (60) days’ prior written notice to the Company. If the office of the Warrant Agent
becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of thirty
(30) days after it has been notified in writing of such resignation or incapacity by the Warrant Agent or by the holder of the Warrant (who shall, with such notice, submit his Warrant for inspection by the Company), then the holder of any
Warrant may apply to the Supreme Court of the State of New York for the County of New York for the appointment of a successor Warrant Agent at the Company’s cost. Any successor Warrant Agent, whether appointed by the Company or by such court,
shall be a corporation organized and existing under the laws of the State of New York, in good standing and having its principal office in the Borough of Manhattan, City and State of New York, and authorized under such laws to exercise corporate
trust powers and subject to supervision or examination by federal or state authority. After appointment, any successor warrant agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor
Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any further act or deed; but if for any reason it becomes necessary or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense of
the Company, an instrument transferring to such successor Warrant Agent all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon request of any successor Warrant Agent the Company shall make, execute, acknowledge,
and deliver any and all instruments in writing for more fully and effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities, duties, and obligations. 

     8.2.2. Notice of Successor Warrant Agent. In the event a
successor Warrant Agent shall be appointed, the Company shall give notice thereof to the predecessor Warrant Agent and the transfer agent for the Common Stock not later than the effective date of any such appointment. 
     8.2.3. Merger or Consolidation of Warrant Agent. Any corporation into which the Warrant Agent may be
merged or with which it may be consolidated or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor warrant agent under this Agreement without any further act. 
 8.3.      Fees and Expenses of Warrant Agent.
     8.3.1. Remuneration. The Company agrees to pay the Warrant Agent reasonable remuneration for its services
as such Warrant Agent hereunder and will reimburse the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of its duties hereunder. 
     8.3.2. Further Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be
performed, executed, acknowledged, and delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Warrant Agent for the carrying out or performing of the provisions of this Agreement. 
 8.4.    Liability of Warrant Agent. 
     8.4.1. Reliance on Company Statement. Whenever in the performance of its duties under this Warrant
Agreement, the Warrant Agent shall deem it necessary or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence in respect thereof be
herein specifically prescribed) may be deemed to be conclusively proved and established by a statement signed by the Chief Executive Officer, Chairman of the Board or Chief Financial Officer of the Company and delivered to the Warrant Agent. The
Warrant Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant to the provisions of this Agreement. 
     8.4.2. Indemnity. The Warrant Agent shall be liable hereunder only for its own negligence, willful misconduct or bad faith. The Company agrees to indemnify the Warrant Agent and save it
harmless against any and all liabilities, including judgments, costs and reasonable counsel fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement except as a result of the Warrant Agent’s negligence, willful
misconduct, or bad faith. 
     8.4.3. Exclusions. The Warrant Agent shall have no responsibility
with respect to the validity of this Agreement or with respect to the validity or execution of any Warrant (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition contained in
this Agreement or in any Warrant; nor shall it be responsible to make any adjustments required under the provisions of Section 4 hereof or responsible for the manner, method, or amount of any such adjustment or the ascertaining of the
existence of facts that would require any such adjustment; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any shares of Common Stock to be issued pursuant to this
Agreement or any Warrant or as to whether any shares of Common Stock will when issued be valid and fully paid and nonassessable. 
 8.5.      Acceptance of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the terms and conditions herein set forth and among other
things, shall account promptly to the Company with respect to Warrants exercised and concurrently account for, and pay to the Company, all moneys received by the Warrant Agent for the purchase of shares of Common Stock through the exercise of
Warrants. 

 8.6.      Waiver. The Warrant Agent hereby waives
any and all right, title, interest or claim of any kind (“Claim”) in or to any distribution of the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of the date hereof, by and between the Company and
the Warrant Agent as trustee thereunder), and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Fund for any reason whatsoever. 
 9.  Miscellaneous Provisions. 
 9.1.      Successors. All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure to the benefit of their respective successors and
assigns. 
 9.2.      Notices. Any notice or other communication required or which may
be given hereunder shall be in writing and shall be delivered personally or by private national courier service, or be mailed, certified or registered mail, return receipt requested, postage prepaid, and shall be deemed given when so delivered
personally or, if sent by private national courier service, on the next business day after delivery to the courier, or, if mailed, four (4) business days after the date of mailing, as follows: 
  

					
		  	 2020 ChinaCap Acquirco, Inc.
	  	
		  	 c/o Surfmax Corporation
	  	
		  	 221 Boston Post Road East, Suite 410
	  	
		  	 Marlborough, Massachusetts 01752
	  	
		  	 Attention:  G. George Lu
	  	
			
	 with a copy in each case to:
	  		  	
			
		  	 Seyfarth Shaw LLP
	  	
		  	 131 South Dearborn Street, Suite 2400
	  	
		  	 Chicago, Illinois 60603
 Attention:  Michel Feldman
	  	

 Any notice, statement or demand authorized by this Agreement to be given or made by the holder of
any Warrant or by the Company to or on the Warrant Agent shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service four (4) days after deposit of such notice, postage
prepaid, addressed (until another address is filed in writing by the Warrant Agent with the Company), as follows: 
  

					
		  	 Contintental Stock Transfer & Trust Company
	  	
		  	 17 Battery Place
	  	
		  	 New York, New York 10004
	  	
		  	 Attn:
                                        
    
	  	
			
	 with a copy in each case to:
	  		  	
			
		  	 Morgan Joseph & Co. Inc.
	  	
		  	 600 Fifth Avenue, 19th Floor
	  	
		  	 New York, New York 10020
	  	
		  	 Attn:  Tina Pappas
	  	
			
	 and
	  		  	
			
		  	 Ungaretti & Harris LLP
	  	
		  	 Three First National Plaza
	  	

 Chicago, Illinois 60601 
 Attn:      Gary I. Levenstein 
 9.3.      Applicable law. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed in all respects by the laws of
the State of New York, without giving effect to conflict of laws. The Company hereby agrees that any action, proceeding or claim against it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the
State of New York or the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any objection to such exclusive jurisdiction
and that such courts represent an inconvenient forum. Any such process or summons to be served upon the Company may be served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid, addressed to it
at the address set forth in Section 9.2 hereof. Such mailing shall be deemed personal service and shall be legal and binding upon the Company in any action, proceeding or claim. 
 9.4.      Persons Having Rights under this Agreement. Nothing in this Agreement expressed and
nothing that may be implied from any of the provisions hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto and the Registered Holders of the Warrants and, for the purposes of
Sections 6.1, 6.4, 7.4 and 9.2 and 9.8 hereof, Morgan Joseph, any right, remedy, or claim under or by reason of this Agreement or of any covenant, condition, stipulation, promise, or agreement hereof.
Morgan Joseph shall be deemed to be a third-party beneficiary of this Agreement with respect to Sections 6.1, 6.4, 7.4, 9.2 and 9.8 hereof. All covenants, conditions, stipulations, promises, and agreements
contained in this Agreement shall be for the sole and exclusive benefit of the parties hereto (and Morgan Joseph with respect to Sections 6.1, 6.4, 7.4, 9.2 and 9.8 hereof) and their successors and assigns and
of the registered holders of the Warrants. 
 9.5.      Examination of this Agreement. A
copy of this Agreement shall be available at all reasonable times at the office of the Warrant Agent in the Borough of Manhattan, City and State of New York, for inspection by the Registered Holder of any Warrant. The Warrant Agent may require any
such holder to submit his Warrant for inspection by it. 
 9.6.      Counterparts. This
Agreement may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 
 9.7      Effect of Headings. The Section headings herein are for convenience only and are not part
of this Agreement and shall not affect the interpretation thereof. 
 9.8      Amendments. This Agreement may be amended by the parties hereto without the consent of any Registered Holder for the purpose of curing any ambiguity, or of curing, correcting or supplementing
any defective provision contained herein or adding or changing any other provisions with respect to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties deem shall not adversely affect
the interest of the Registered Holders. All other modifications or amendments, including any amendment to increase the Warrant Price or shorten the Exercise Period, shall require the written consent of each of the Company, Morgan Joseph and the
Registered Holders of a majority of the then outstanding Warrants. Notwithstanding the foregoing, the Company may lower the Warrant Price or extend the duration of the Exercise Period in accordance with Sections 3.1 and 3.2,
respectively, without such consent. 
 9.9      Severability. This Agreement shall be
deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or
unenforceable term or provision, the parties hereto intend that there shall be added as a part of this 

 
Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable. 
 *    *    *    *    * 
 (Signature Page Follows) 

 IN WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto as of the
day and year first above written. 
  

									
	 Attest
	 		 	 2020 CHINACAP ACQUIRCO, INC.
	 	
					
	  
	 		 	 By:
	 	  
	 	
	 Name:
 Title:
	 		 		 	 Name:
 Title:
	 	
				
	 Attest
	 		 	 CONTINENTAL STOCK TRANSFER
 & TRUST COMPANY
	 	
					
	  
	 		 	 By:
	 	  
	 	
	 Name:
 Title:
	 		 		 	 Name:
 Title:Investment Management Trust Agreement

 EXHIBIT 10.11 
 INVESTMENT MANAGEMENT TRUST AGREEMENT 
 This Agreement (this “Agreement”) is made as
of                     , 2007 by and between 2020 ChinaCap Acquirco, Inc., a Delaware corporation (the “Company”) and
LaSalle Bank National Association, a national banking association (the “Trustee”). 
 WHEREAS, the Company has entered into
an Underwriting Agreement, dated as of _________, 2007 (the “Underwriting Agreement”) with Morgan Joseph & Co. Inc. (the “Representative”), as representative of the underwriters party thereto (collectively,
the “Underwriters”), pursuant to which, among other matters, the Underwriters have agreed to purchase from the Company, and effect a public offering (the “IPO”) of, 7,500,000 Units (“Units”), and up
to an additional 1,125,000 Units in the Underwriters’ over-allotment option is exercised in full. Each Unit consists of one share of the Company’s common stock, par value $.0001 per share (“Common Stock”), and one Warrant
to purchase one share of Common Stock, all as more fully described in the Company’s final Prospectus comprising part of the Company’s Registration Statement on Form S-1 (File No. 333
                    ) under the Securities Act of 1933, as amended (“Registration Statement”); 
 WHEREAS, the Registration Statement has been declared effective as of the date hereof by the Securities and Exchange Commission (“Effective
Date”); 
 WHEREAS, as described in the Registration Statement, $_________ of proceeds from the IPO, net of all discounts and
commissions, including the Deferred Compensation (as defined below), and expenses of the IPO (and such amount may be up to
$                    , if the Underwriters’ over-allotment option is exercised in full) (the “IPO Proceeds”) will be
delivered to the Trustee to be deposited and held in a trust account for the benefit of the Company and the holders of the Common Stock (the “Public Stockholders” and, together with the Company and the Representative, the
“Beneficiaries”) issued in the IPO as part of the Units (such shares, excluding shares of Common Stock issued upon exercise of Warrants issued in the IPO, are referred to as the “IPO Shares”); 
 WHEREAS, pursuant to the Warrant Purchase Agreement dated as of __________, 2007 among the Company and certain purchasers, the entire proceeds of the
private placement of warrants with the Company’s purchasers, equal to $2,000,000 (the “Warrant Proceeds”), will be delivered to the Trustee to be deposited and held in the Trust Account (as defined below); 
 WHEREAS, pursuant to the Underwriting Agreement an additional $1,800,000 representing a portion of the underwriters’ discount (the “Deferred
Compensation” and, collectively with the IPO Proceeds and the Warrant Proceeds, the “Property”) which the Representative, on behalf of the underwriters, has agreed to deposit into the Trust Account (as defined below); and

 WHEREAS, the Company and the Trustee desire to enter into this Agreement to set forth the terms and conditions pursuant to which the
Trustee shall hold the Property. 

 IT IS AGREED: 
 1. Agreements and Covenants of Trustee. The Trustee hereby agrees and covenants to: 
 (a) Hold the Property in trust for the Beneficiaries in accordance with the terms of this Agreement established by the Trustee in its Global Escrow Services Department with offices at 135 South LaSalle Street, Suite 1563, Chicago, IL 60603
(the “Trust Account”); 
 (b) Manage, supervise and administer the Trust Account subject to the terms and
conditions set forth herein; 
 (c) In a timely manner, upon the instruction of the Company, invest and reinvest the Property
in any Government Security. As used herein, “Government Security” means any Treasury Bill issued by the United States, having a maturity of 180 or less or any open ended investment company selected by the Company and registered
under the Investment Company Act of 1940 that holds itself out as a money market fund meeting the conditions of paragraphs (c)(2), (c)(3) and (c)(4) under Rule 2a-7 promulgated under the Investment Company Act of 1940 as determined by the Company;

 (d) Collect and receive, when due, all principal and income arising from the Property, which shall become part of the
“Property”; 
 (e) Notify the Company and the Representative of all communications received by it with respect to
any Property requiring action by the Company; 
 (f) Supply any necessary information or documents as may be requested by the
Company in connection with the Company’s preparation of its tax returns so as to reflect income earned on Trust Account investments; 
 (g) Participate in any plan or proceeding for protecting or enforcing any right or interest arising from the Property if, as and when instructed by the Company and the Representative; 
 (h) Render to the Company and to the Representative, and to such other persons as the Company may from time to time instruct, monthly
written statements of the activities of and amounts in the Trust Account reflecting all receipts and disbursements of the Trust Account; 
 (i) Upon receipt of a letter in a form substantially similar to that attached hereto as either Exhibit A or Exhibit B (a “Termination Letter”), signed on behalf of the Company by its Chief
Executive Officer or Chairman of the Board and, in the case of a Termination Letter substantially in the form of Exhibit A, affirmed by a majority of its Board of Directors, comply with the instructions set forth in the letter regarding the
liquidation of the Trust Account, including distribution of the Property in the Trust Account only as directed in the Termination Letter and the other documents referred to therein (which distribution shall include, in the event of a Business
Combination, payment of the Deferred Compensation to the Representative); and 
 (j) If the Trustee shall not have received a
Termination Letter on or prior to the Distribution Date, promptly following the Distribution Date the Trustee shall liquidate the Trust Account in accordance with the procedures set forth in the Termination Letter attached as Exhibit B to the
Public Stockholders of record as of a record date fixed by the Trustee, which record date shall be ten days after the Distribution Date, or as soon thereafter as is practicable. For purposes of this Agreement, the “Distribution
Date” shall mean the date that is two years from the Effective Date. 
  

 2 

 2. Limited Distributions of Income on Property. 
 (a) Upon written instructions from the Company, the Trustee will deliver to the Company, on a quarterly basis, from the Property in the
Trust Account, an amount equal to the taxes payable by the Company, if any, relating to interest earned on the Property; provided, however, that in no event shall the Company direct the Trustee to disburse amounts pursuant to this
Section 2(a) that exceed the income in respect of which such taxes are due and owing. 
 (b) Upon written request from
the Company, which may be given from time to time but which may be given not more than once in any calendar month period, the Trustee shall distribute to the Company an amount requested by the Company and certified by the Company to be equal to the
income earned on the Property, net of taxes payable through the last day of the month immediately preceding the date of receipt of the Company’s request; provided, however, that the maximum cumulative amount of distributions, net
of taxes, that the Company may request and the Trustee shall distribute pursuant to this Section 2(b) shall be $1,200,000. 
 (c) Except as provided in Sections 2(a) and 2(b) above, no other distributions from the Trust Account shall be permitted except in accordance with Sections 1(i) and 1(j) hereof. 
 3. Agreements and Covenants of the Company. The Company hereby agrees and covenants to: 
 (a) Give all instructions to the Trustee hereunder in writing, signed by an Authorized Individual. The “Authorized
Individuals” shall be those individuals from time to time designated in writing to the Trustee by the Company as “Authorized Officers,” provided that each such individual must be an executive officer or Chairman of the Board of
the Company. The initial Authorized Individuals are identified in Exhibit C to this Agreement. In addition, except with respect to its duties under Section 1(i) above, the Trustee shall be entitled to rely on, and shall be protected in
relying on, any verbal or telephonic advice or instruction which it in good faith believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in
writing. 
 (b) Hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including
reasonable counsel fees and disbursements, or loss suffered by the Trustee in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand which in any way arises out
of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any income earned from investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence or willful misconduct.
Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this paragraph, it shall notify the 

  

 3 

 
Company in writing of such claim (hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and
manage the defense against such Indemnified Claim, provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may
not agree to settle any Indemnified Claim without the prior written consent of the Company. The Company may participate in such action with its own counsel. The foregoing indemnities shall extend to the officers, directors and employees of the
Trustee and survive the termination of this Agreement and the resignation or removal of the Trustee. 
 (c) Pay the Trustee an
initial acceptance fee of $1,500 and an annual fee of $3,000 (it being expressly understood that the Property shall not be used to pay such fee). The Company shall pay the Trustee the initial acceptance fee and first year’s fee upon the
execution of the Agreement and thereafter the Company shall pay the Trustee the annual fee on each anniversary thereof. The Trustee shall refund to the Company the fee (on a six month proration basis) with respect to any period after the liquidation
of the Trust Fund. The Company shall not be responsible for any other fees or charges of the Trustee except as may be provided in Section 3(b) of this Agreement (it being expressly understood that the Property shall not be used to make any
payments to the Trustee under such paragraph). Notwithstanding the foregoing, it is agreed that the Company shall promptly reimburse the Trustee for reasonable legal, accounting and related expenses reasonably incurred by the Trustee in connection
with the discharge of its obligations under Section 1(g) hereof. 
 (d) Within five business days after the
Representative’s over-allotment option (or any unexercised portion thereof) expires or is exercised in full, provide the Trustee notice in writing (with a copy to the Representative) of the total amount of the Deferred Compensation, which shall
in no event be less than $1,000,000. 
 (e) Provide to the Trustee any letter of intent, agreement in principle or definitive
agreement that is executed in connection with a Business Combination, together with a certified copy of a unanimous resolution of the Board of Directors of the Company affirming that such letter of intent, agreement in principle or definitive
agreement is in effect. 
 (f) In connection with any vote of the Company’s stockholders regarding a Business Combination
(as defined in the Certificate of Incorporation of the Company), provide to the Trustee an affidavit or certificate of a firm regularly engaged in the business of soliciting proxies and tabulating stockholder votes (which firm may be the Trustee)
verifying the number of votes of the Company’s stockholders for and against such Business Combination. 
 4. Limitations of
Liability. The Trustee shall have no responsibility or liability to: 
 (a) Take any action with respect to the Property,
other than as directed in Section 1 of this Agreement and the Trustee shall have no liability to any party except for liability arising out of its own gross negligence or willful misconduct; 
 (b) Institute any proceeding for the collection of any principal and income arising from, or institute, appear in or defend any proceeding
of any kind with respect to, any of the Property unless and until it shall have received instructions from the Company given as provided herein to do so and the Company shall have advanced or guaranteed to it funds sufficient to pay any expenses
incident thereto; 
 (c) Change the investment of any Property, other than in compliance with Section 1(c) of this
Agreement; 
 (d) Refund any depreciation in principal of any Property; 
 (e) Assume that the authority of any Authorized Officer designated by the Company or the Representative to give instructions hereunder
shall not be continuing unless provided otherwise in such designation, or unless the Company or the Representative shall have delivered a written revocation of such authority to the Trustee; 
  

 4 

 (f) The other parties hereto or to anyone else for any action taken or omitted by it, or
any action suffered by it to be taken or omitted, in good faith and in the exercise of its own best judgment, except for its gross negligence or willful misconduct. The Trustee may rely conclusively and shall be protected in acting upon any order,
notice, demand, certificate, opinion or advice of counsel (including counsel chosen by the Trustee), statement, instrument, report or other paper or document (not only as to its due execution and the validity and effectiveness of its provisions, but
also as to the truth and acceptability of any information therein contained) which is believed by the Trustee, in good faith, to be genuine and to be signed or presented by the proper person or persons. The Trustee shall not be bound by any notice
or demand, or any waiver, modification, termination or rescission of this agreement or any of the terms hereof, unless evidenced by a written instrument delivered to the Trustee signed by the proper party or parties and, if the duties or rights of
the Trustee are affected, unless it shall give its prior written consent thereto; 
 (g) Verify the correctness of the
information set forth in the Registration Statement or to confirm or assure that any Business Combination consummated by the Company or any other action taken by the Company is as contemplated by the Registration Statement; or 
 (h) Subject to the requirements of Section 2(a) of this Agreement, pay any taxes on behalf of the Trust Account to any governmental
entity or taxing authority. 
 5. Termination. This Agreement shall terminate as follows: 
 (a) If the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall use its
reasonable efforts to locate a successor trustee. At such time that the Company notifies the Trustee that a successor trustee has been appointed by the Company and has agreed to become subject to the terms of this Agreement, the Trustee shall
transfer the management of the Trust Account to the successor trustee, including but not limited to the transfer of copies of the reports and statements relating to the Trust Account, whereupon this Agreement shall terminate; provided,
however, that if the Company does not locate a successor trustee within 90 days of receipt of the resignation notice from the Trustee, the Trustee may submit an application to have the Property deposited with the United States District
Court for the Northern District of Illinois and upon such deposit, the Trustee shall be immune from any liability whatsoever that arises due to any actions or omissions to act by any party after such deposit; or 
 (b) At such time that the Trustee has completed the liquidation of the Trust Account in accordance with the provisions of
Section 1(i) or Section 1(j) of this Agreement, and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement shall terminate except with respect to Section 3(b) of this Agreement.

 6. Miscellaneous. 
 (a) The Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth in this Section 6 with respect to funds transferred from the Trust Account. Upon receipt of written
instructions, the Trustee will confirm such instructions with an Authorized Individual at an Authorized Telephone Number listed on the 

  

 5 

 
attached Exhibit C. The Company and the Trustee will each restrict access to confidential information relating to such security procedures to authorized
persons. Each party must notify the other party immediately if it has reason to believe unauthorized persons may have obtained access to such information, or of any change in its authorized personnel. In executing funds transfers, the Trustee will
rely upon account numbers or other identifying numbers of a beneficiary, beneficiary’s bank or intermediary bank, rather than names. The Trustee shall not be liable for any loss, liability or expense resulting from any error in an account
number or other identifying number, provided it has accurately transmitted the numbers provided. 
 (b) This Agreement shall
be governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflict of laws. It may be executed in several counterparts, each one of which shall constitute an original, and together shall
constitute but one instrument. 
 (c) This Agreement contains the entire agreement and understanding of the parties hereto
with respect to the subject matter hereof. This Agreement or any provision hereof may only be changed, amended or modified by a writing signed by each of the parties hereto; provided, however, that no such change, amendment or
modification (other than to correct a typographical or similar technical error) may be made without the prior written consent of the Representative, except that no change, amendment or modification (other than to correct a typographical or similar
technical error) may be made to Sections 1(i), 1(j), 2(a), 2(b) and 2(c) hereof without the prior written consent of 95% of the Public Stockholders, it being the specific intention of the parties hereto that each Public Stockholder is and shall be a
third-party beneficiary of this Section 6(c) with the same right and power to enforce this Section 6(c) as either of the parties hereto. For purposes of this Section 6(c), the “consent of 95% of the Public Stockholders” shall mean receipt
by the Trustee of a certificate from an entity certifying that (i) such entity regularly engages in the business of serving as inspector of elections for companies whose securities are publicly traded, and (ii) either (a) 95% of the Public
Stockholders of record as of a record date established in accordance with Section 213(a) of the Delaware General Corporation Law, as amended (the “DGCL”), have voted in favor of such amendment or modification or (b) 95% of the Public
Stockholders of record as of a record date established in accordance with Section 213(b) of the DGCL have delivered to such entity a signed writing approving such amendment or modification. As to any claim, cross-claim or counterclaim in any way
relating to this Agreement, each party waives the right to trial by jury. 
 (d) The parties hereto consent to the
jurisdiction and venue of any court of the state of New York or the courts of the United States of America for the Southern District of New York. 
 (e) Any notice, consent or request to be given in connection with any of the terms or provisions of this Agreement shall be in writing and shall be deemed to have been duly given when sent by Express Mail or similar
private courier service, by certified mail (return receipt requested), by hand delivery, by facsimile transmission or by email transmission (subject to electronic confirmation of receipt); provided, however, that an original copy of
any notice, consent or request sent by facsimile transmission or by email transmission also shall be delivered to the addressee of such notice, consent or request by Express Mail or similar private courier service within two (2) business days
after such initial transmission: 
  

					
	if to the Trustee, to:	  	LaSalle Bank National Association
		  	Global Escrow Services
		  	135 South LaSalle Street, Suite 1563
		  	Chicago, IL 60603
		  	Attention:	  	Mark Loiacono
		  	Telephone:	  	(312) 904-6836
		  	Fax:	  	(312) 904-4019
		  	Email:	  	mark.loiacono@abnamro.com
		
	if to the Company, to:	  	2020 ChinaCap Acquirco, Inc.
		  	221 Boston Post Road East
		  	Suite 410
		  	Marlborough, MA 01752
		  	Attn:	  	George Lu, CEO
		  	Telephone:	  	(508) 624-4948
		  	Fax:	  	(508) 624-4988
		  	Email:	  	george@georgelu.com

  

 6 

					
	in either case with a copy to:	  	Morgan Joseph & Co. Inc.
		  	600 Fifth Avenue, 19th Floor
		  	New York, New York 10020
		  	Attn:	  	Scott George
		  	Telephone:	  	(312) 284-2505
		  	Fax:	  	(312) 284-2515
		  	Email:	  	SGeorge@morganjoseph.com
		
	and	  	Ungaretti & Harris LLP
		  	Three First National Plaza
		  	Suite 3500	  	
		  	Chicago, IL 60602
		  	Attn:	  	Gary I. Levenstein, Esq.
		  	Telephone:	  	(312) 977-4108
		  	Fax:	  	(312) 977-4405
		  	Email:	  	gilevenstein@uhlaw.com
		
		  	Seyfarth Shaw LLP
		  	131 S. Dearborn Street
		  	Suite 2400	  	
		  	Chicago, IL 60603
		  	Attn:	  	Michel J. Feldman, Esq.
		  	Telephone:	  	(312) 460-5613
		  	Fax:	  	(312) 460-7613
		  	Email:	  	mfeldman@seyfarth.com

 Any party to which notice or a copy thereof is to be delivered may change the person and address to which the
notices or other communications are to be sent by giving written notice to any such change in the manner provided herein for giving notice. 
 (f) This Agreement may not be assigned by the Trustee without the prior written consent of the Company and the Representative. 
 (g) Each of the Trustee and the Company hereby represents that it has the full right and power and has been duly authorized to enter into this Agreement and to perform its respective obligations as contemplated hereunder. The Trustee
acknowledges and agrees that it shall not make any claims or proceed against the Trust Account, including by way of set-off, and shall not be entitled to any funds in the Trust Account under any circumstance. 
  

 7 

 IN WITNESS WHEREOF, the parties have duly executed this Investment Management Trust Agreement as of the
date first written above. 
  

					
	LASALLE BANK, NATIONAL ASSOCIATION,
as Trustee
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	
	
	2020 CHINACAP ACQUIRCO, INC.
		
	By:	 	 
		 	Name:	 	G. George Lu
		 	Title:	 	Chief Executive Officer

  

 8 

 EXHIBIT A 
 [Letterhead of Company] 
 [Insert date] 
 LaSalle Bank National Association 
 Global Escrow Services 
 135 South LaSalle Street, Suite 
 1563 Chicago, IL 60603 
 Attn: Mark Loiacono 
  

	Re:	Trust Account No. [            ] Termination Letter 

 Gentlemen: 
 Reference is made to that certain Investment
Management Trust Agreement between 2020 ChinaCap Acquirco, Inc., a Delaware corporation (the “Company”) and LaSalle Bank National Association, a national banking association (the “Trustee”) dated as of
                                , 2007 (the “Trust Agreement”).
Capitalized terms used in this letter shall have the meanings ascribed to them in the Trust Agreement unless otherwise defined in this letter. 
 Pursuant to Section 1(i) of the Trust Agreement, the Company hereby advises you that it has entered into a definitive agreement to consummate a Business Combination with
                    . The Company anticipates that the Business Combination will be consummated on or about [insert date]. The Company
shall notify you at least 48 hours in advance of the actual date of the consummation of the Business Combination (the “Consummation Date”). 
 In accordance with Article Sixth of the Certificate of Incorporation of the Company, the Business Combination has been approved by the stockholders of the Company and by the Public Stockholders holding a majority
of the IPO Shares, and Public Stockholders holding less than 30% of the IPO Shares have voted against the Business Combination and given notice of exercise of their conversion rights described in paragraph B of Article Sixth of the Certificate
of Incorporation of the Company. Pursuant to Section 3(d) of the Trust Agreement, we are providing you with [an affidavit] [a certificate] of
                    , which verifies the number of votes of the Company’s stockholders for and against the Business Combination.
In accordance with the terms of the Trust Agreement, we hereby authorize you to commence liquidation of the Trust Account to the effect that, on the Consummation Date, all of the funds held in the Trust Account will be immediately available for
transfer to the account or accounts that the Company shall direct on the Consummation Date. 
 On the Consummation Date (a) counsel for
the Company shall deliver to you written notification that the Business Combination has been consummated and (b) the Company and Morgan Joseph & Co., Inc., as representative of the underwriters (the “Representative”) shall
deliver to you joint written instructions with respect to the transfer of the funds held in the Trust Account, including the Deferred Compensation (the “Instruction Letter”). You are hereby directed and authorized to transfer the funds
held in the Trust Account, including the Deferred Compensation, immediately upon your receipt of the counsel’s letter and the Instruction Letter, in accordance with the terms of the Instruction Letter. If certain deposits held in the Trust
Account may not be liquidated by the Consummation 

  

 A-1 

 
Date without penalty, you will notify the Company of the same and the Company shall direct you as to whether such funds should remain in the Trust Account
and distributed after the Consummation Date to the Company or, with respect to the Deferred Compensation, to the Representative. Upon the distribution of all the funds in the Trust Account pursuant to the terms hereof, the Trust Agreement shall be
terminated. 
 If the proposed Business Combination is not consummated on the Consummation Date described in the notice thereof and we have
not notified you on or before the original Consummation Date of a new Consummation Date, then you shall reinvest the funds held in the Trust Account as provided in the Trust Agreement on the business day immediately following the Consummation Date
as set forth in the notice. 
 The undersigned directors constitute a majority of the Board of Directors of the Company as of the date of
this letter. 
  

					
	Very truly yours,
	
	2020 CHINACAP ACQUIRCO, INC.
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	
	
	AFFIRMED:
		
		 	 
		 	Name:	 	
		 	Title:	 	Director
		
		 	 
		 	Name:	 	
		 	Title:	 	Director
		
		 	 
		 	Name:	 	
		 	Title:	 	Director
		
		 	 
		 	Name:	 	
		 	Title:	 	Director
		
		 	 
		 	Name:	 	
		 	Title:	 	Director

  

 A-2 

 EXHIBIT B 
 [Letterhead of Company] 
 [Insert date] 
 LaSalle Bank National Association 
 Global Escrow Services 
 135 South LaSalle Street, Suite 1563 
 Chicago, IL 60603 
 Attn: Mark Loiacono 
  

	Re:	Trust Account No. [            ] Termination Letter 

 Gentlemen: 
 Reference is made to that certain Investment
Management Trust Agreement between 2020 ChinaCap Acquirco, Inc., a Delaware corporation (the “Company”) and LaSalle Bank National Association, a national banking association (the “Trustee”) dated as of
                    , 2007 (the “Trust Agreement”). Capitalized terms used in this letter shall have the meanings ascribed to
them in the Trust Agreement unless otherwise defined in this letter. 
 Pursuant to Section 1(i) of the Trust Agreement, the Company
hereby advises you that the Board of Directors of the Company has voted to dissolve and liquidate the Company. 
 In accordance with the
terms of the Trust Agreement, we hereby authorize you to liquidate the Trust Account to the Public Stockholders. In connection with this liquidation, you are hereby authorized to establish a record date for the purposes of determining the Public
Stockholders of record entitled to receive their pro rata share of the Trust Account. The record date shall be ten days after the Distribution Date, or as soon thereafter as is practicable. 
 You shall notify the Company in writing as to when all of the funds in the Trust Account will be available for immediate transfer in accordance with the
terms of the Trust Agreement and the Certificate of Incorporation of the Company. You shall commence distribution of such funds in accordance with the terms of the Trust Agreement and you shall oversee the distribution of the funds. Upon the payment
of all the funds in the Trust Account, the Trust Agreement shall be terminated. 
  

 B-1 

					
	Very truly yours,
	
	2020 CHINACAP ACQUIRCO, INC.
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	
	
	AFFIRMED:
		
		 	 
		 	Name:	 	
		 	Title:	 	Director
		
		 	 
		 	Name:	 	
		 	Title:	 	Director
		
		 	 
		 	Name:	 	
		 	Title:	 	Director
		
		 	 
		 	Name:	 	
		 	Title:	 	Director
		
		 	 
		 	Name:	 	
		 	Title:	 	Director

  

 B-2 

 EXHIBIT C 
  

			
	 AUTHORIZED INDIVIDUAL(S)
 FOR TELEPHONE CALL BACK
	  	 AUTHORIZED
 TELEPHONE NUMBER(S)

		
	 Company:
	  	
		
	 Trustee:
	  	

  

 C-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00130-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00130-of-00352.parquet"}]]