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 One Hundred and Fifty Thousand Dollars and No Cents ($150,000) 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 upon the earlier of (a)
one year from the date of execution and (b) the date on which Payee shall demand full or partial payment of any
balance outstanding hereunder. The Maker hereby acknowledges that the Payee may demand full or partial
payment of any balance outstanding hereunder at its sole option and without cause at any time.
2. INTEREST. The principal balance of this Note shall not bear interest.
3. APPLICATION OF PAYMENTS; PREPAYMENTS.
(a) The Maker may pay any amount outstanding hereunder at any time, in whole or in part, without
premium or penalty.
(b) 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, next to the payment
in full of any late charges, then to interest on the unpaid principal balance due under this Note and finally
to the reduction of the unpaid principal balance of this Note; provided , however , that any prepayments
shall be made at the sole discretion of the Maker and the failure of the Maker to make such prepayments
shall not be deemed an Event of Default under this Note.
4. EVENTS OF DEFAULT. The occurrence of any of the following events shall constitute an Event of
(a) FAILURE TO MAKE REQUIRED PAYMENTS. Failure by Maker to pay the principal of
this Note within five (5) business days following the date