Document:

Employment Agreement on May 23, 2006

 Exhibit 4.7 
 THIS EMPLOYMENT AGREEMENT (“Agreement”) 
 is made and entered into this 
 23rd of May, 2006 
 (the “Effective
Date”) 
 by and between 
 Shaojian (Sean) Wang 
 (the “Employee”) 
 and 
 HURRAY! HOLDING CO. LTD. (the Company) 
 BACKGROUND 
 WHEREAS the Employee and the Company desire to enter into
this Agreement for the purpose of retaining the services of the Employee, and wish to provide the Employee with an inducement to remain with the Company; 
 WHEREAS the Employee has been employed by the Company. 
 NOW, THEREFORE, intending to be legally bound, and in consideration of the premises and
the mutual promises set forth in this Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and Employee agree as follows: 
 DEFINITIONS 
 “Affiliate” shall mean with respect to any
Person directly or indirectly Controlling, Controlled by, or under common Control with such Person. 
 “Board” shall mean Board of Directors.

 “Cause” shall mean (i) Employee commits a crime involving dishonesty, breach of trust, or physical harm to any person; (ii) Employee
willfully engages in conduct that is in bad faith and materially injurious to the Company, including but not limited to, misappropriation of trade secrets, fraud or embezzlement; (iii) Employee commits a material breach of this Agreement, which
breach is not cured within twenty (20) days after written notice to Employee from the Company; (iv) Employee willfully refuses to implement or follow a reasonable and lawful policy or directive of the Company, which breach is not cured
within twenty (20) days after written notice to Employee from the Company; or (v) Employee engages in malfeasance demonstrated by a pattern of failure to perform job duties diligently and professionally. 
 “Change in Control” shall be as defined in Section 4.3.2. 
 “Company” shall be as defined in Preamble. 

 “Control” (including the terms “Controlled by” and “under common Control with”) shall mean
the possession, directly or indirectly or as a trustee or executor, of the power to direct or cause the direction of the management of a Person, whether through the ownership of stock, as a trustee or executor, by contract or credit agreement or
otherwise. 
 “Effective Date” shall be as defined in Preamble. 
 “Employee” shall be as defined in Preamble. 
 “Employee Resignation” shall be as defined in
Section 3.1.2. 
 “Employee Resignation Date” shall be as defined in Section 3.1.2. 
 “Employment Capacity” shall be President and Chief Operating Officer reporting to the Chief Executive Officer of the Company. 
 “Employment Change of Control Termination Date” shall mean the later of (i) 6 months from the date of a Change of Control; or (ii) the date on which
either the Company or the Employee elects not to extend the Agreement further by giving written notice to the other party. 
 “Employment Contract
Termination Date” shall mean the later of the third anniversary of the Effective Date or the date on which either the Company or the Employee elects not to extend the Agreement further by giving written notice to the other party. 
 “Employment Final Termination Date” shall mean the date upon which the Employee’s employment with the Company ceases for any reason. 
 “Employment Term” shall be as defined in Section 1.1. 
 “Exchange Act” shall mean the Securities and Exchange Act of 1934, as amended. 
 “Good Reason” in the context of the
employee’s resignation shall mean (a) a change in the employees position which materially reduces the employee’s level of responsibilities, duties or stature; or (b) reduction in the employee’s compensation. 
 “Person” shall mean an individual, corporation, partnership, limited liability company, limited partnership, association, trust, unincorporated organization or
other entity or group (as defined in Section 13(d)(3) of the Securities and Exchange Act of 1934, as amended). 
 “Qualified Public
Transaction” shall mean an underwritten public offering of Ordinary Shares of the Company at a public offering price that values the Company as a whole at no less than US $150,000,000 and yields gross proceeds to the Company in excess of
US$30,000,000. 
 “Subsidiary” shall mean, with respect to any Person, any entity which securities or other ownership interests having ordinary
voting power to elect a majority of the Board of Directors or other persons performing similar functions are at the time directly or indirectly owned by such Person. 

 ARTICLE I. EMPLOYMENT AND TERM 
 The Company employs Employee and the Employee hereby agrees to such employment by the Company during the Employment Term to serve as the President and COO of the Company, with the customary duties, authorities and
responsibilities of such position and such other duties, authorities and responsibilities relative to the Company that may from time to time be delegated to Employee by the Chief Executive Officer of the Company. Employee shall perform such duties
and responsibilities as are normally related to such position in accordance with the standards of the industry and any additional duties now or hereafter assigned to Employee by the Chief Executive Officer. Employee shall abide by the Company’s
rules, regulations, and practices as they may from time-to-time be adopted or modified. 
  

	1.1	Employment Term. The Employment Term of this Agreement shall commence on the Effective Date and shall continue until the earlier of the Employment Contract Termination Date
or the Employment Final Termination Date, except in the event that a Change in Control occurs prior to the Employment Contract Termination Date. 

  

	1.2	Full Working Time. During the Employment Term, the Employee shall devote Employee’s attention, experience and efforts during normal business hours to the proper
performance of Employee’s duties hereunder and to the business and affairs of the Company. 

  

	1.3	Change in Control. If a Change in Control occurs prior to the Employment Contract Termination Date, then the terms outlined in Section 4.3 shall apply.

 ARTICLE 2. COMPENSATION PACKAGE AMOUNT 
  

	2.1	Compensation Package Amount plus Benefits in Kind. During the Employment Term, Employee should be paid the annual compensation set forth on Exhibit A, or such greater
compensation as may from time to time be approved by the Board. 

  

	2.2	Benefits in Kinds. During the Employment Term, the Employee will be paid the Benefits and Benefits in Kind set forth on Exhibit A. 

  

	2.3	Vacation. The Employee shall be entitled to the amount of vacation each calendar year of the Employment Term set forth in Exhibit A, which must be taken in accordance with
the Company’s vacation policy then in effect. 

  

	2.4	Expenses. The Company shall pay or reimburse the Employee for reasonable business expenses actually incurred or paid by the Employee during the Employment Term, in the
performance of her services hereunder. 

 ARTICLE 3. TERMINATION 
  

	3.1	General. 

  

	3.1.1	Company Right to Terminate. The Company shall have the right to terminate the employment of the Employee at any time with or without Cause but the relative rights and
obligations of the parties in the event of any such termination or resignation shall be determined under this Agreement. 

	3.1.2	Employee Right to Terminate. The Employee shall have the right to resign for any reason with 30 days notice to the Company, but the relative rights and obligations of the
parties in the event of any such resignation shall be determined under this agreement (“Employee Resignation”, and the date of notice by the Employee to the Company of which shall be the “Employee Resignation Date”).

  

	3.2	Termination Under Certain Circumstances. 

  

	 	3.2.1	Termination Without Severance Benefits. In the event the Employee’s employment with the Company is terminated prior to the expiration of the Employment Term by reason of
(i) the Employee’s resignation other than for Good Reason, or (ii) the Employee’s discharge by the Company for Cause or gross negligence, as determined by a majority of the Board, this Agreement shall terminate including, without
limitation, the Company’s obligations to provide any compensation, benefits or severance to the Employee under Article 2 of this Agreement or otherwise, other than the Standard Termination Entitlements as defined in Section 4.1.

  

	 	3.2.2	Termination Without Cause or Resignation for Good Reason. Except in the event of a Change in Control, the Company will be obligated to provide the Standard Termination
Entitlements as defined in Section 4.1 and Severance Benefits as defined in Section 4.2, if either the Company terminates the employee’s employment without Cause or the Employee resigns for Good Reason, subject to the Employee’s
compliance with Articles 5, 8, 9 and 10. 

  

	 	3.2.3	Termination upon a Change in Control. In the event of a Change in Control, the terms of Section 4.3 shall apply. 

 ARTICLE 4. Standard Termination Entitlements; Severance Benefits. 
  

	4.1	Standard Termination Entitlements. For all purposes of this Agreement, the Employee’s “Standard Termination Entitlements” shall mean and include, subject to
the provisions of Article 8: (a) the Employee’s earned but unpaid compensation (including, without limitation, salary, bonus, and all other items which constitute wages under applicable law) as of the date of Employee’s termination of
employment. This payment shall be made at the time and in the manner prescribed by law applicable to the payment of wages but in no event later than 30 days after the date of the Employee’s termination of employment; and (b) the benefits,
if any, due to the Employee (and the Employee’s estate, surviving dependents or her designated beneficiaries) under the employee benefit plans and programs and compensation plans and programs maintained for the benefit of the employees of the
Company and in which the Employee participated as an Employee. The time and manner of payment or other delivery of these benefits and the recipients of such benefits shall be determined according to the terms and conditions of the applicable plans
and programs. 

  

	4.2	Severance Benefits. For all purposes of this Agreement, the Employee’s “Severance Benefits” shall mean and include the payment of a lump sum amount equal to 6
multiplied by the Employee’s monthly rate of annual gross base salary in effect immediately prior to Employee’s termination of employment. 

	4.3	Change in Control 

  

	 	4.3.1	Change in Control Adjustments and Compensation. The “Change in Control Adjustments and Compensation” shall mean the following: 

  

	 	4.3.1.1	Change in Control Employment Term. If a Change in Control occurs prior to the Employment Contract Termination Date, then the Employment Term shall continue until the earlier
of the Employment Final Termination Date or the Employment Change of Control Termination Date. 

  

	 	4.3.1.2	Change in Control Severance Payment Amount. If a Change in Control occurs prior to the Employment Contract Termination Date, and the Company terminates the employee’s
employment without Cause or the Employee resigns for Good Reason, then the Employee shall receive Severance Benefits as defined in Section 4.2 and the Company shall be obligated to provide the Standard Termination Entitlements as defined in
Section 4.1 subject to the Employee’s compliance with Articles 5, 8, 9 and 10. 

  

	 	4.3.2	Definition. Change in Control shall mean any one of the following: 

  

	 	4.3.2.1	the consummation of a reorganization, merger or consolidation of the Company with one or more other persons, other than a transaction following which:

 at least 49% of the equity ownership interests of the entity resulting from such transaction are beneficially owned (within
the meaning of Rule 13d-3 promulgated under the Exchange Act) in substantially the same relative proportions by persons who, immediately prior to such transaction, beneficially owned (within the meaning of Rule 13d-3 promulgated under the Exchange
Act) 100% of the outstanding equity ownership interests in the Company; and 
 at least 49% of the securities entitled to vote generally in
the election of directors of the entity resulting from such transaction are beneficially owned (within the meaning of Rule 13d-3 promulgated under the Exchange Act) in substantially the same relative proportions by persons who, immediately prior to
such transaction, beneficially owned (within the meaning of Rule 13d-3 promulgated under the Exchange Act) 100% of the securities entitled to vote generally in the election of directors of the Company. 
  

	 	4.3.2.2	a complete liquidation or dissolution of the Company; or 

  

	 	4.3.2.3	 the occurrence of any event if, immediately following such event, at least 49% of the members of the Board of Directors of the Company do not belong to any
of the following groups: (a) individuals who were members of the 

	 	 
Board of Directors of the Company on the date hereof; or (b) individuals who first became members of the Board of Directors of the Company after the
date hereof either: (i) upon election to serve as a member of the Board of Directors of the Company by affirmative vote of three-quarters of the members of such board, or of a nominating committee thereof, in office at the time of such first
election; or (ii) upon election by the stockholders of the Company to serve as a member of such board, but only if nominated for election by affirmative vote of three-quarters of the members of the Board of Directors of the Company, or of a
nominating committee thereof, in office at the time of such first nomination; provided, however, that such individual’s election or nomination did not result from an actual or threatened contest for the election of directors or other
actual or threatened solicitation of proxies or consents other than by or on behalf of the Board of Directors of the Company. 

  

	 	4.3.2.4	In no event, however, shall a Change in Control be deemed to have occurred as a result of (i) any acquisition of securities or assets of the Company or any subsidiary
thereof, by the Company or any subsidiary thereof, or by any employee benefit plan maintained by the Company or any subsidiary thereof or (ii) any Qualified Public Transaction of the securities of the Company. For purposes of this section, the
term “person” shall have the meaning assigned to it under sections 13(d)(3) or 14(d)(2) of the Exchange Act. 

 ARTICLE 5.
NON-COMPETITION AND NON-SOLICITATION; PROPRIETARY INFORMATION 
 The Employee shall enter into a Key Employee Invention Assignment and Confidentiality
Agreement attached herein as Exhibit B and a Non-Compete Agreement attached herein as Exhibit C and shall act in accordance with the terms of such agreements. The Employee agrees that the provisions of this Article 5, Exhibit B and
Exhibit C are necessary to protect the interests of the Company or its Subsidiaries or Affiliates and are reasonable and valid in geographical and temporal scope and in all other respects. If any court determines that the provisions of this Article
5 or any part thereof are unenforceable because of the duration or geographical scope of such provision, such court will have the power to reduce the duration or scope of such provision, as the case may be, and, in its reduced form, such provision
will be enforceable. 
 ARTICLE 6. THIS ARTICLE INTENTIONALLY OMITTED 
 ARTICE 7. REMEDIES 
 7.1 Remedies for Certain Breaches. If the Employee commits a breach, or threatens to
commit a breach, of any of the provisions of Article 5, the Company shall have the following rights and remedies: forfeiture of stock options, forfeiture of any severance or other termination benefits and damages associated with the Breach, each of
which rights and remedies shall be independent of the others, 

 
and shall be severally enforceable, and all of which rights and remedies shall be in addition to, and not in lieu of, any other rights and remedies available
under law or in equity to the Company, the right and remedy to have the provisions of Article 5 enforced by any court in the State of New York, USA, it being acknowledged and agreed that any breach or threatened breach of Article 5 hereof by the
Employee will cause irreparable injury to the Company and that money damages will not provide an adequate remedy to the Company. 
 ARTICLE 8. DISPUTE
RESOLUTION 
 8.1 Dispute Resolution. Any dispute, controversy or claim, at any time arising out of this or relating to this Agreement, or the
breach, termination or invalidity thereof (other than any dispute, controversy or claim pursuant to Article 5 hereof, which may, at the option of the Company, be submitted to any court having jurisdiction), shall be referred to the Hong Kong courts
for final and binding arbitration. Any arbitral award may be enforced through a judgment rendered in any court of competent jurisdiction. 
 ARTICLE 9.
GENERAL PROVISIONS 
 9.1 Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given
(and shall be deemed to have been duly received if so given) by hand delivery, telegram, telex, or telecopy, or facsimile transmission, or by mail (registered or certified mail, postage prepaid, return receipt requested) or by any courier service,
providing proof of delivery. All communications hereunder shall be delivered to the respective parties at the following addresses or to such other address as the party to whom notice is given may have previously furnished to the other parties hereto
in writing in the manner set forth above: 
  

			
	 If to the Employee:
	 	Shaojian (Sean) Wang
		 	[ADDRESS]
		
	 If to the Company:
	 	Hurray! Holding Co., Ltd.
		 	[ADDRESS]

  

	10.1	Entire Agreement. This Agreement, including the provisions of Exhibit A and the agreements on Exhibit B and Exhibit C, shall constitute the entire agreement between the
Employee and the Company with respect to the Company’s employment of the Employee and supersedes any and all prior agreements and understandings. 

  

	10.2	Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance
and either retroactively or prospectively), only by an instrument in writing and signed by the party against whom such amendment or waiver is sought to be enforced. 

	10.3	Successors and Assigns. The personal services of the Employee are the subject of this Agreement and no part of the Employee’s or the Company’s rights or obligations
hereunder may be assigned, transferred, pledged or encumbered by the Employee or the Company. This Agreement shall inure to the benefit of, and be binding upon (a) the parties hereto, (b) the heirs, administrators, executors and personal
representatives of the Employee and (c) the successors and assigns of the Company as provided herein. 

  

	10.4	Governing Law and Venue. This Agreement, including the validity hereof and the rights and obligations of the parties hereunder, and all amendments and supplements hereof and
all waivers and consents hereunder, shall be construed in accordance with and governed by the laws of the State of New York, USA, without giving effect to any conflicts of law provisions or rule, that would cause the application of the laws of any
other jurisdiction. 

  

	10.5	Severability. If any provisions of this Agreement, as applied to any part or to any circumstance, shall be adjudged by a court to be invalid or unenforceable, the same shall
in no way affect any other provision of this Agreement, the application of such provision in any other circumstances or the validity or enforceability of this Agreement. 

  

	10.6	Survival. The rights and obligations of the Company and Employee pursuant to Articles 3, 4, 5, 8 and 9 shall survive the termination of the Employee’s employment with
the Company and the expiration of the Employment Term. 

  

	10.7	Captions. The headings and captions used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

  

	10.8	Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the
same instrument. 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written. 
  

			
	 EMPLOYEE

		
	By:	 	 /s/ Shaojian Wang

	Name:	 	Shaojian (Sean) Wang
	Title:	 	President and COO
	
	 COMPANY

		
	By:	 	 /s/ Qindai Wang

	Name:	 	Qindai Wang
	Title:	 	Chief Executive Officer
	
	 ATTEST

		
	By:	 	 /s/ May Pang

	Name:	 	May Pang
	Address:	 	

 Exhibit A 
 Compensation 
 Annual Base Salary 
 The
annual gross base salary will be US$150,000.00 which will be paid in twelve (12) monthly installments each year. The salary will be reviewed in January 2007 and annually thereafter 
 Annual Target Bonus 
 As determined by CEO of the Company. 
 Commission 
 The commission will be calculated and paid according to
the Company’s incentive program policy. 
 Restricted Share 
 Restricted share award for an aggregate of 6,000,000 ordinary shares of the Company will be granted. The purchase price per share shall be US$0.00005 per ordinary share (which is the par value per share. And 100 ordinary shares represent
one American Depositary Receipt on Nasdaq). One third of the restricted shares shall vest twelve months after the date of award, and an additional one-third of the restricted shares shall vest on each yearly anniversary of the date of award.

 Health Insurance 
 As provided in the Company’s
standard insurance policy for executive officers. 
 In addition, the Company will reimburse the Employee up to US$10,000 for actual costs incurred by the
Employee, in every twelve-month period from the Effective Date, for international health insurance coverage for Employee’s family members (the Employee’s wife and three daughters) who will be based in California, USA. 
 The Company will also reimburse the Employee up to US$5,000 for actual costs incurred by the Employee, in every twelve-month period from the Effective Date, for one
roundtrip, economy-class airline ticket from Los Angeles to Beijing for each of the Employee’s family members (the Employee’s wife and three daughters) to visit the Employee. If the Company selects a corporate travel agent, the Employee
will be expected to make his reservations through the travel agent. Until that time, the Employee will be reimbursed upon presentation of receipts in accordance with the Company’s expense reimbursement practices. 
 Annual Paid Vacation 
 During the first service year, 15 days of
annual paid vacation. For each year of service thereafter, one (1) additional day of paid vacation on a cumulative basis. 

 Exhibit B 
 Key Employee Invention Assignment and Confidentiality Agreement 
 In consideration of, and as a condition of my continued
employment with Hurray! Holding Co. Ltd., a Cayman Islands company (as contemplated in the employment agreement between Hurray! Holding Co. Ltd. and me (the “Employment Agreement”)), or with any of its Subsidiaries or Affiliates (as
defined in the Employment Agreement, Hurray! Holding Co., Ltd. and its Subsidiaries and Affiliates, collectively, the “Company”), I hereby represent to, and agree with, the Company as follows: 
 I hereby represent to, and agree with the Company as follows: 
  

	1.	Purpose of Agreement. I understand that the Company is engaged in a continuous program of research, development, production and marketing in connection with its business and
that it is critical for the Company to preserve and protect its Proprietary Information (as defined in Section 3 below), its rights in Inventions (as defined in Section 2 below) and in any other intellectual property rights. Accordingly, I
am entering into this Employee Invention Assignment and Confidentiality Agreement (this “Agreement”) as a condition of my continued employment with the Company, whether or not I am expected to create inventions of value for the
Company. 

  

	2.	Disclosure of Inventions. I will promptly disclose in confidence to the Company all inventions, improvements, designs, original works of authorship, derivative works,
formulas, processes, compositions of matter, techniques, know-how, computer software programs, databases, mask works and trade secrets (the “Inventions”) that I make or conceive or first reduce to practice or create, either alone or
jointly with others, during the period of my employment, whether or not in the course of my employment, and whether or not such Inventions are patentable, copyrightable or protectible as trade secrets or mask works. 

  

	3.	Proprietary Information. I understand that my employment by the Company creates a relationship of confidence and trust with respect to any information of a confidential or
secret nature that may be disclosed to me by the Company that relates to the business of the Company or to the business of any parent, subsidiary, affiliate, customer or supplier of the Company or any other party with whom the Company agrees to hold
information of such party in confidence (the “Proprietary Information”). Such Proprietary Information includes but is not limited to any confidential and/or proprietary knowledge, data or information, any past, present or
future Inventions, marketing plans, product plans, business strategies, financial information (including budgets and unpublished financial statements), licenses, prices and costs, forecasts, personal information, suppliers, customers and lists of
either, information, trade secrets, patents, mask works, ideas, confidential knowledge, data or other proprietary information relating to new and existing products, processes, know-how, designs, formulas, developmental or experimental work,
improvements, discoveries, designs and techniques, computer programs, data bases, other original works of authorship, employee information including the skills and compensation of other employees of Company, or other subject matter pertaining to any
business of Company. I agree that Company may from time to time create a list of specific Proprietary Information and I will acknowledge any such lists in writing upon request. 

	4.	Confidentiality. At all times, both during my employment and after its termination, I will keep and hold all such Proprietary Information in strict confidence and trust. I
will not use or disclose any Proprietary Information without the prior written consent of the Company, except as may be necessary to perform my duties as an employee of the Company for the benefit of the Company. Upon termination of my employment
with the Company, I will promptly deliver to the Company all documents and materials of any nature pertaining to my work with the Company. I will not take with me any documents or materials or copies thereof containing any Proprietary Information.

  

	5.	Work for Hire; Assignment of Inventions. I acknowledge and agree that any copyrightable works prepared by me either alone or jointly with others, within the scope of my
employment are “works for hire” under the United States Copyright Act and that the Company will be considered the author and owner of such copyrightable works. In the event that any such copyrightable works are not deemed to be “works
made for hire,” I hereby irrevocably assign all of my right, title and interest in and to such copyrightable works to Company. I agree that all Inventions that (i) are developed using equipment, supplies, facilities or trade secrets of the
Company, (ii) result from work performed by me for the Company, or (iii) relate to the Company’s business or current or anticipated research and development (collectively, “Company Inventions”), will be the sole and
exclusive property of the Company and are hereby irrevocably assigned by me to the Company. 

  

	6.	Assignment of Other Rights. In addition to the foregoing assignment of Company Inventions to the Company, I hereby irrevocably transfer and assign to the Company:
(i) all worldwide patents, patent applications, copyrights, mask works, trade secrets and other intellectual property rights in any Company Invention; and (ii) any and all Moral Rights (as defined below) that I may have in or with respect
to any Company Invention. I also hereby forever waive and agree never to assert any and all Moral Rights I may have in or with respect to any Company Invention, even after termination of my work on behalf of the Company. “Moral
Rights” mean any rights to claim authorship of a Company Invention, to object to or prevent the modification of any Company Invention, or to withdraw from circulation or control the publication or distribution of any Company Invention, and
any similar right, existing under judicial or statutory law of any country in the world, or under any treaty, regardless of whether or not such right is denominated or generally referred to as a “moral right”.

  

	7.	Assistance. For no consideration in addition to my salary or wages during my employment, I agree to assist the Company in every proper way to obtain for the Company and
enforce patents, copyrights, mask work rights, trade secret rights and other legal protections for the Company’s Inventions in any and all countries. I will execute any documents that the Company may reasonably request for use in obtaining or
enforcing such patents, copyrights, mask work rights, trade secrets and other legal protections. My obligations under this paragraph will continue beyond the termination of my employment with the Company, provided that the Company will compensate me
at a reasonable rate after such termination for time or expenses actually spent by me at the Company’s request on such assistance. I appoint the Secretary of the Company as my attorney-in-fact to execute documents on my behalf for this purpose.
I hereby waive and quitclaim to Company any and all claims, of any nature whatsoever, which I now or may hereafter have for infringement of any proprietary rights assigned hereunder to Company. 

	8.	No Breach of Prior Agreement. I represent that my performance of all the terms of this Agreement and my duties as an employee of the Company will not breach any invention
assignment, proprietary information, confidentiality or similar agreement with any former employer or other party. I represent that I did not bring with me to the Company or use in the performance of my duties for the Company any documents or
materials or intangibles of a former employer or third party that are not generally available to the public or have not been legally transferred to the Company. 

  

	9.	Efforts; Duty Not to Compete. I understand that my employment with the Company requires my undivided attention and effort during normal business hours. While I am employed by
the Company, I will not, without the Company’s express prior written consent, provide services to, or assist in any manner, any business or third party which compete with the current or planned business of the Company. 

 

	10.	Notification. I hereby authorize the Company to notify my actual or future employers of the terms of this Agreement and my responsibilities hereunder.

  

	11.	Non-Solicitation of Employees/Consultants. During my employment with the Company and for a period of one (1) year thereafter, I will not directly or indirectly solicit
away employees or consultants of the Company for my own benefit or for the benefit of any other person or entity. “Solicit” shall not include the placement of an advertisement in a publication of general circulation.

  

	12.	Non-Solicitation of Suppliers/Customers. During my employment with the Company and after termination of my employment, I will not directly or indirectly solicit or take away
suppliers or customers of the Company if the identity of the supplier or customer or information about the supplier or customer relationship is a trade secret or is otherwise deemed confidential information within the meaning of Chinese law.

  

	13.	Injunctive Relief. I understand that in the event of a breach or threatened breach of this Agreement by me the Company may suffer irreparable harm and will therefore be
entitled to injunctive relief to enforce this Agreement, without prejudice to any other rights or remedies that Company may have for a breach of this Agreement. 

  

	14.	Governing Law; Severability. This Agreement will be governed by and construed in accordance with the laws of New York, without giving effect to that body of laws pertaining
to conflict of laws. If any provision of this Agreement is determined by any court or arbitrator of competent jurisdiction to be invalid, illegal or unenforceable in any respect, such provision will be enforced to the maximum extent possible given
the intent of the parties hereto. If such clause or provision cannot be so enforced, such provision shall be stricken from this Agreement and the remainder of this Agreement shall be enforced as if such invalid, illegal or unenforceable clause or
provision had (to the extent not enforceable) never been contained in this Agreement. Notwithstanding the forgoing, if the value of this Agreement based upon the substantial benefit of the bargain for any party is materially impaired, which
determination as made by the presiding court or arbitrator of competent jurisdiction shall be binding, then this Agreement will not be enforceable against such affected party and both parties agree to renegotiate such provision(s) in good faith.

	15.	Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered will be deemed an original, and all of which together
shall constitute one and the same agreement. 

  

	16.	Titles and Headings. The titles, captions and headings of this Agreement are included for ease of reference only and will be disregarded in interpreting or construing this
Agreement. Unless otherwise specifically stated, all references herein to “sections” and “exhibits” will mean “sections” and “exhibits” to this Agreement. 

  

	17.	Entire Agreement. This Agreement and the documents referred to herein constitute the entire agreement and understanding of the parties with respect to the subject matter of
this Agreement, and supersede all prior understandings and agreements, whether oral or written, between or among the parties hereto with respect to the specific subject matter hereof. 

  

	18.	Amendment and Waivers. This Agreement may be amended only by a written agreement executed by each of the parties hereto. No amendment of or waiver of, or modification of any
obligation under this Agreement will be enforceable unless set forth in a writing signed by the party against which enforcement is sought. Any amendment effected in accordance with this section will be binding upon all parties hereto and each of
their respective successors and assigns. No delay or failure to require performance of any provision of this Agreement shall constitute a waiver of that provision as to that or any other instance. No waiver granted under this Agreement as to any one
provision herein shall constitute a subsequent waiver of such provision or of any other provision herein, nor shall it constitute the waiver of any performance other than the actual performance specifically waived. 

  

	19.	Successors and Assigns; Assignment. Except as otherwise provided in this Agreement, this Agreement, and the rights and obligations of the parties hereunder, will be binding
upon and inure to the benefit of their respective successors, assigns, heirs, executors, administrators and legal representatives. The Company may assign any of its rights and obligations under this Agreement. No other party to this Agreement may
assign, whether voluntarily or by operation of law, any of its rights and obligations under this Agreement, except with the prior written consent of the Company. 

  

	20.	Further Assurances. The parties agree to execute such further documents and instruments and to take such further actions as may be reasonably necessary to carry out the
purposes and intent of this Agreement. 

  

	21.	Not Employment Contract. I understand that this Agreement does not constitute a contract of employment or obligate the Company to employ me for any stated period of time.

 This Agreement shall be effective as of Effective Date. 
  

							
	Company	 		  	Employee:
				
	By:	 	  
	 		  	  

	Name:	 		 		  	Name:
	Position:	 		 		  	Position:

 Exhibit C 
 Non Compete Agreement 
 Dear Shaojian (Sean) Wang, 
 As an employee of Hurray! Holding Co. Ltd., a Cayman Islands company (as contemplated in the employment agreement between Hurray! Holding Co. Ltd. and me (the “Employment Agreement”)), or with any of its
Subsidiaries and Affiliates (as defined in the Employment Agreement, Hurray! Holding Co., Ltd. and its Subsidiaries and Affiliates, collectively, the “Company”), you must execute and deliver a covenant not to compete with the
Company during your employment and for 12 months thereafter. The terms and conditions set forth below, as applicable, shall, upon your acceptance thereof, become an agreement between you and the Company. 
 Covenant Not to Compete 
 It is hereby agreed that,
from the date hereof and so long as you are an employee, consultant or serve in a similar capacity with the Company, you shall devote substantially all of your professional time to the Company and shall not participate in any manner in the
management or operation of any business other than that of the Company or serving on the board of directors of the Company. 
 If you are no
longer employed by or acting as a consultant for the Company, you shall not be employed by or participate in any manner in the management or operation of any business or entity that is or may reasonably become a competitor of the Company until 12
months after the date of termination of employment with the Company. 
 Company Rights if You Violate this Agreement 
 In the event that you do not comply with the terms of this Agreement, any profit sharing or stock options to which you would otherwise be entitled will be
forfeited. 
 In the event you do not comply with the terms of this Agreement, we also reserve the right to discharge you as an employee.
Furthermore, we reserve the right to recover monetary damages from you, and we may also recover punitive damages to the extent permitted by law. In the event that monetary damages are an inadequate remedy for any harm suffered by us as a result of a
breach of this Agreement by you, we may also seek other relief, including an order of specific performance or injunctive relief. You will not seek, and you agree to waive any requirement for, the securing or posting of a bond in connection with our
seeking or obtaining such relief. 
 You further agree to indemnify and hold us harmless from any damages, losses, costs or liabilities
(including legal fees and the costs of enforcing this indemnity agreement) arising out of or resulting from your failure to abide by the terms of this Agreement. 

 At-Will Employment 
 You agree and understand that, except as may be provided in any employment agreement between you and the Company, your employment with the Company is “at-will,” meaning that it is not for any specified
period of time and can be terminated by you or by the Company at any time, with or without advance notice, and for any or no particular reason or cause. You agree and understand that it also means that job duties, title and responsibility and
reporting level, compensation and benefits, as well as the Company’s personnel policies and procedures, may be changed at any time at-will by the Company. You understand and agree that nothing about the fact or the content of this Agreement is
intended to, nor should be construed to, alter the at-will nature of your employment with the Company. You also understand and agree that the at-will nature of employment with the Company can only be changed by the Chief Executive Officer of the
Company in an express writing signed and dated by him and by you. 
 Acknowledgment 
 You agree that, in light of the substantial benefits you will receive as our employee, the terms contained in this Agreement are necessary and reasonable
in all respects and that the restrictions imposed on you are reasonable and necessary to protect our legitimate business interests. Additionally, you hereby acknowledge and agree that the restrictions imposed on you by this Agreement will not
prevent you from obtaining employment in your field of expertise or cause you undue hardship. 
 Governing Law 
 This Agreement shall be governed by and construed in accordance with the laws of the New York, without regard to any conflicts of laws provision thereof.

 By accepting this Agreement, you acknowledge that, given the nature of the Company’s business, the provisions contained in this
Agreement contain reasonable limitations as to time, geographical area and scope of activity to be restrained, and do not impose a greater restraint than is necessary to protect and preserve the Company and to protect the Company’s legitimate
interests. If, however, the provisions of this Agreement are determined by any court of competent jurisdiction or any arbitrator to be unenforceable by reason of its extending for too long a period of time or over too large a geographic area or by
reason of its being too extensive in any other respect, or for any other reason, it will be interpreted to extend only over the longest period of time for which it may be enforceable and over the largest geographical area as to which it may be
enforceable and to the maximum extent in all other aspects as to which it may be enforceable, all as determined by such court or arbitrator in such action. 
 Please confirm your agreement with the foregoing by signing and returning directly to the undersigned the duplicate copy of this letter enclosed herewith. 

			
	Very truly yours,
	
	COMPANY
		
	By:	 	  

	Name:	 	Shaojian (Sean) Wang
	Position:	 	President and COO

 Accepted and Agreed to as 
 of the date first above written: 
  

	
	
	  

	Employee
	Name: Qindai Wang
	 Position: Chief Executive OfficerTranslation of Employment Agreement on September 1, 2006

 Exhibit 4.8 
 Employment Agreement 
 of 
 Hurray! Times Communications (Beijing) Ltd. 
 Party A: Hurray! Times Communications (Beijing)
Ltd. (the “Company”) 
 Registered Address: 
 Legal
Representative: Xiang Songzuo 
 Party B: Wang Jiang (Employee) 
 Gender:    Male;        Ethnic Nationality:    Han;        Education:    Bachelor’s Degree;

 Nationality: Chinese; 
 Birthday: January 17, 1973

 Number of Identity card: 610113197301177612 
 Home Address:

 Place of Registered Permanent Residence (“Hukou”): Room 02, Lane 8, Linyi Street, Pudong District, Shanghai 
 Mobile Phone: 13801789410 
 This employment agreement (“Agreement”)
is entered into by and between Party A and Party B on the basis of equality, voluntariness and mutual consent through consultation and in accordance with the Labor Law of the People’s Republic of China (the “Labor Law”) and other
relevant laws and regulations. 
  

					
		 	Chapter 1 Work Duties, Labor Disciplines and Term
		
	 Article 1
	 	Party B agrees to assume the position of Senior Vice President of the President Office with such duties as Party A may, from time to time, determine during the term of
employment. Party B shall accomplish the work on Party A’s demand in a timely manner and in compliance with the related standards, which are set forth in the Position Description and Performance Evaluation Form. Both the Position Description
and the Performance Evaluation Form shall have equal legal force.
		
	 Article 2
	 	This contract shall take effect on September 1, 2006 and expire August 31, 2008, with a probation period of          months.
Based on evaluation of Party B’s performance during the probation period, such period may be curtailed or prolonged, provided that the prolonged period, if any, may be restricted to one month at the maximum. Upon the end of such probation
period, the term of this Agreement shall accrue from the date when Party B reports to work.

					
	 Article 3
	 	Party B shall make its best efforts to cooperate with other relevant departments of the company in performing his duties and shall comply with all the precepts and work
disciplines set forth by Party A.
		
	 Article 4
	 	In the event that Party B violates any provision of work disciplines and regulations, Party A may in its sole discretion, considering the severity of consequences, change Party
B’s position or cut his salary or otherwise terminate this Agreement.
		
	 Article 5
	 	In no circumstances shall Party B engage himself in any activities impairing Party A’s legitimate interests or part-time work of any nature. If Party B is found to have taken
up any part-time work, Party B may be deemed to have materially breached Party A’s work disciplines, which may result in termination of this Agreement in accordance with the Labor Law.
		
		 	Chapter 2 Work Time, Remuneration and Benefits
		
	 Article 6
	 	Party B shall observe a standard work time requirement, namely 8 hours per day and five days per week and shall be entitled to statutory holidays and vacations. Overtime may be
worked on the demand of Party A on the condition that the total overtime worked may not exceed 36 hours a month.
		
	 Article 7
	 	Party A shall provide Party B with occupational safety and health conditions conforming to the provisions of the state and necessary articles of labor protection, and with the
items necessary for Party B to perform his work.
		
	 Article 8
	 	Party B shall be paid on the 25th day of each
month the salary of              yuan RMB (before taxes). Party B’s salary shall be subject to the related wage system of Party A. Party A shall have the right to adjust Party
B’s salary according to Party B’s performance, changes in his duties, Party A’s business results and Party A’s related rules. If Party B decides that such adjustment to his salary is unacceptable, he/she may apply to Party A for
termination of this Agreement.
		
	 Article 9
	 	Party A may deduct the following amounts from Party B’s salary:
			
		 	1.	 	 Individualincome tax payable by Party B;

			
		 	2.	 	 The  portion of the social insurance, commercial insurance and housing accumulation fund that Party B shall
contribute;

			
		 	3.	 	 Any and all damages or fines payable by Party B in accordance with any court judgment or arbitration award;

					
		 	 4.      
	 	Any and all fines or compensation payable by Party B to Party A in accordance with any stipulations in this Agreement and/or any court judgment or arbitration award.
		
	 Article 10
	 	Party A shall cover all the social insurance as required by the law and the Parties shall contribute their shares to the premium of such insurance. Upon termination or expiry of
this Agreement, related procedures shall be followed to transfer such social insurance as Party B may be entitled to.
		
	 Article 11
	 	In the event that Party B suffers from occupational disease or work-related injuries, Party B shall be paid his salary and reimbursed the medical expenses incurred in accordance
with relevant state and local regulations.
		
	 Article 12
	 	In the event that Party B suffers from any other disease or non work-related injuries, Party B shall be entitled to a medical treatment period and medical treatment benefits in
accordance with relevant state and local regulations, with the exception of the injuries or illnesses caused due to Party B’s willful acts or his violation of laws and regulations.
		
	 Article 13
	 	Party B shall be liable for all the expenses caused by any diseases having arisen prior to the employment hereunder or as a result of his withholding of any health information
that may have fallen short of the criteria for the position he applies for.
		
		 	Chapter 3 Modification, Termination and Cancellation
		
	 Article 14
	 	If changes have taken place in the laws and regulations serving as the basis of the conclusion of this Agreement, this Agreement shall be modified accordingly.
		
	 Article 15
	 	If major changes have taken place in the objective conditions serving as the basis of the conclusion of this Agreement to the extent that this Agreement becomes non-executable,
the Parties hereto may alter the provisions of this Agreement or otherwise terminate this Agreement.
		
	 Article 16
	 	Party A may terminate this Agreement at its absolute discretion under any of the following circumstances:
			
		 	 1.      
	 	Party B has been proved not competent for the employment requirements of Party A during the probation period;
			
		 	 2.      
	 	Party B severely violates any of Party A’s work disciplines or regulations;
			
		 	 3.      
	 	Party B neglects any of his duties or commits any malpractice which causes significant loss to Party A’s interests;

					
		 	4.	 	Party B divulges Party A’s trade secrets or engages himself in any business impairing Part A’s interests to the extent that economic losses to Party A arise;
			
		 	5.	 	Party B is held accountable for criminal behavior in accordance with law.
		
		 	Under the circumstances as stated in the aforesaid sub-paragraph 2, 3, 4 and 5, Party A shall have the right to claim against Party B for compensation or bring him to the
competent authorities for criminal responsibility.
		
	 Article 17
	 	In any of the following events, this Agreement may be terminated by Party A giving a written notice to Party B thirty days in advance:
			
		 	1.	 	Party B after the completion of the medical treatment for illness or injury not suffered at work is unable to take up his original work or any new work arranged by Party A ;
			
		 	2.	 	Party B falls short of the quality and quantity of work set forth in the Agreement and has been proven incompetent for the work after training or redeployed into a new job
role;
			
		 	3.	 	Both parties fail to reach an agreement on the modification of this Agreement as stipulated in Article 17;
			
		 	4.	 	Party A has obtained approval from the labor administrative department of termination of this Agreement on the grounds that Party A runs into serious difficulties in production and
management.
		
		 	If Party A terminates this Agreement without giving a prior notice to Party B, Party A shall pay Party B a penalty in the amount equal to one day’s salary for the immediately
previous month for each day of delay in giving such a notice.
		
	 Article 18
	 	In any of the following events, Party A shall not terminate this Agreement:
			
		 	1.	 	Party B is receiving treatment during the prescribed period of time for his vocational diseases or injuries;
			
		 	2.	 	Party B is a female employee during her pregnancy, puerperal, or nursing periods;
		
	 Article 19
	 	Party B shall not make a resignation before the expiry of this Agreement, if:
			
		 	 •        
	 	Party B is a person in charge of a department or with important duties whose work hasn’t been accomplished or whose replacement hasn’t been found;

					
		 	 •        
	 	Party B has any pending disputes related to intellectual property rights or results of R&D;
			
		 	 •        
	 	Party A or its customers have suffered from such losses as caused by Party B’s violation of this Agreement, and Party B’s involvement is called for in corrective actions or he may
be held liable for the consequences therefrom;
			
		 	 •        
	 	Any other events provided in relevant laws and regulations that occur.
		
	 Article 20
	 	This Agreement may be terminated after the Parties have reached an agreement through consultation.
		
	 Article 21
	 	Party B shall give a written notice to Party A thirty days prior to termination of this Agreement. During the probation period, Party B may terminate this Agreement by giving a
notice to Party A seven days in advance.
		
	 Article 22
	 	Party B may notify Party A of his decision to terminate this Agreement under any of the following circumstances:
			
		 	1.	 	He is on probation;
			
		 	2.	 	Party A forces Party B to work by resorting to violence, intimidation or illegal restriction of personal freedom;
			
		 	3.	 	Party A fails to perform this Agreement or infringe on Party B’s legitimate rights and interest as a result of violation of laws and regulations;
			
		 	4.	 	Party A fails to pay Party B remuneration as agreed hereunder;
		
	 Article 23
	 	This Agreement shall automatically terminate upon its expiration. The parties may renew this Agreement through consultations.
		
		 	Chapter 4 Compensation and Indemnification
		
	 Article 24
	 	Under the following circumstances where Party A breaches this Agreement, Party A shall compensate Party B as specified below:
			
		 	 •        
	 	If Party A deducts wages or delays in paying wages to Party B without reason, Party A shall pay Party B an amount equal to 25% of his salary in addition to payment of his salary in full on
the dates specified above;
			
		 	 •        
	 	If Party A pays Party B wages below the local standard on minimum wages, Party A shall make up for the deficiency for Party B and pay an additional 25% of the amount of the deficiency to
Party B as economic compensation.

					
	 Article 25
	 	Under the following circumstance, Party A shall pay Party B an amount equivalent to Party B’s average one-month salary within the previous twelve months for each full year
Party B has worked, provided that the total amount should not exceed the total salary of twelve months:
		
		 	Party B is unable to perform his work given training or transfer and Party A terminates this Agreement.
		
	 Article 26
	 	Under any of the following circumstances where Party A terminates this Agreement, Party A shall pay Party B an amount equivalent to Party B’s one-month salary within the
previous year for each full year Party B has worked, provided that Party B should be paid based on his average monthly salary if his monthly salary within the twelve months prior to termination of this Agreement is higher than the average monthly
salary of Party A.
			
		 	1.	 	This Agreement is terminated on the ground that Party B suffers from illnesses or work-related injury and has been verified by the labor administrative agency as unable to perform the
original work or other work arranged by Party A;
			
		 	2.	 	Party A terminates this Agreement on the ground that major changes have taken place in the objective conditions serving as the basis of the conclusion of this Agreement to the extent that
this Agreement becomes non-executable and the Parties fail to modify this Agreement through consultations;
			
		 	3.	 	Party A reaches to the brink of bankruptcy or encounters difficulties in production and management, and reduction of its personnel becomes necessary.
		
	 Article 27
	 	If the Parties agree to terminate this Agreement, the compensation shall be determined by the Parties through consultations.
		
	 Article 28
	 	If Party B fails to complete the hand-over formalities before leaving his work (including but not limited to resignation and dismissal), Party A shall pay Party B an amount
equivalent to Party B’s average one-month salary within the previous twelve months for each full year Party B has worked, provided that the total amount should not exceed the total salary of twelve months. If Party B hasn’t worked for
Party A for a year, the compensation shall be calculated as if he has worked for a full year.
		
	 Article 29
	 	In the event of any losses on the part of Party B by reason that Party A terminates this Agreement in violation of the terms hereof or if this Agreement is or becomes a void
contract, Party A shall compensate Party B in accordance with law and to the extent of losses arising as such.

					
	 Article 30
	 	In the event that Party B receives any training at the cost of Party A and Party B terminates this Agreement in violation of the stipulations hereof, Party B shall compensate Party A
in accordance with the Training Agreement.
		
	 Article 31
	 	In the event that Party A makes payment for Party B to obtain a Hukou for the purpose of working for Party A who is a new graduate, Party B shall compensate Party A in accordance
with any agreement in respect of arrangement for Hukou formalities if he terminate this Agreement in violation of the terms hereof.
		
	 Article 32
	 	In the event that Party B terminates this Agreement in violation of the terms hereof or fails to observe confidentiality duties set forth in this Agreement, Party B shall compensate
Party A for its economic losses or any other losses in the amount as determined in accordance with the law and to the extent of such losses.
		
	 Article 33
	 	In the event that Party B terminates this Agreement, Party B shall compensate Party A for any expenses arising from the training offered to Party B and from the recruitment of Party
B, provided that such expenses have been borne by Party A.
		
		 	Chapter 5 Trade Secrets and Intellectual Property Right
		
	 Article 34
	 	Party B shall undertake to keep confidential Party A’s trade secrets.
		
	 Article 35
	 	Party B shall undertake neither to degrade or damage the trademark, enterprise name and domain name, etc. owned or to be owned by Party A during the employment period and after the
expiration hereof, nor to degrade, copy, distort, destroy or damage the internet web pages or web site of Party A. Party B shall, during the term of the contract, endeavor to safeguard and promote the value of such trademark, enterprise name and
domain name, etc.
		
	 Article 36
	 	Party B shall undertake to transfer to Party A the technologies and software, etc. developed by it by use of the information, data, materials, equipments and tools, etc. of Party A
within the term of this Agreement and within one year after the termination or cancellation of this Agreement concluded between the two parties. Should Party B apply, without the consent of Party A, for patent or copyright registration of such
technologies or software in its own name and/or in the name of any third party, Party B shall agree to exclusively transfer such technologies, software, copyright, patent right

					
		 	and patent application right to Party A in consideration of the transfer fees of RMB one yuan per piece. Party B further undertakes that it will not, without Party A’s written
consent, use the technology achievements, works, software and patents, etc. for commercial use or license others to use the same for commercial use.
		
	 Article 37
	 	Party B shall undertake to observe the professional ethics and guidelines widely recognized in the commercial world.
		
	 Article 38
	 	Party B shall neither engage in any business directly competitive with that carried on by Party A during the term hereof, nor hold any share, stock option or other form of right
(except for those held for a short period of time due to sales and purchase of the shares of listed companies) of the enterprise, commercial institution or organization that are in competition with Party A.
		
		 	Chapter 6 Miscellaneous
		
	 Article 39
	 	Party B shall ensure the cancellation of its employment agreement with its former employer upon execution of this Agreement and furnish relevant certifying documents. Party B shall
be held responsible for any and all results arising from his acts of concealing the truth and making falsifications.
		
	 Article 40
	 	This Agreement shall become null and void should Party B, upon his engagement, conceal or cover up his disease, marriage, pregnancy, disability or failure to be competent for the
engaged position, and Party A shall bear no responsibility therefor; In case of any losses incurred by Party B to Party A, Party B shall indemnify Party A for such losses thereby incurred.
		
	 Article 41
	 	During the performance hereof, should Party A find any fraudulent behavior by Party B when entering into this Agreement, Party A shall have the right to cancel this
Agreement.
		
	 Article 42
	 	Party A and Party B covenant that, the Confidential Agreement shall be an integral part of this Agreement, both parties shall jointly comply with the relevant provisions of the
Confidentiality Agreement.
		
	 Article 43
	 	Party B shall not, within one year after the cancellation (or termination) hereof, engage in any business directly competitive with Party A’s business, and shall not hold a
position in the company, commercial institution or organization that directly competes with Party A’s business.

					
		
		 	Chapter 7 Labor Dispute
		
	Article 44	 	In case of any labor dispute arising from the performance hereof, both parties shall solve such dispute through consultation. In case of failure of the consultation and at the
request of one party for arbitration, such party shall, pursuant to relevant provisions of the Labor Law of the PRC and within the statutory period, file an application for arbitration to the competent labor dispute arbitration committee; in case
one party objects to the arbitration award, such party may lodge an action with the competent people’s court.
		
	Article 45	 	No termination, cancellation and invalidation of this Agreement concluded between Party A and Party B shall affect the validity of this Agreement to such provisions as trade
secrets, intellectual property right, etc.
		
		 	Chapter 8 Supplementary Provisions
		
	Article 46	 	Anything not covered in this Agreement shall be dealt with in the supplementary agreement, subordinated agreement otherwise entered into between Party A and Party B. The
supplemental agreement, subordinated agreement and exhibits hereto shall have the same legal effect as this Agreement.
		
	Article 47	 	Should anything not covered in this Agreement contradict relevant provisions of any country or region where parties hereto are domiciled, the relevant provisions thereof shall
prevail.
		
	Article 48	 	This Agreement shall be made in two counterparts, with each party holding one counterpart, all of which shall have the same legal effect. This Agreement shall become effective upon
the signature and seal of Party A and its representative and the signature of Party B.
		
	Article 49	 	No employee shall, within one year (two years for vice president or person at a higher position) after his or her termination of employment with the Company, seek, solicit,
cause, allow or provide assistance or contact information for any other person in respect of the same, cause or attempt to make any employee to terminate his employment relationship with the Company, nor become employed with any competitor of the
Company or Party B’s own company.

 Party A : Hurray! Times Communications (Beijing) Ltd. (Seal) 
 Legal Representative and authorized representative: (signature) 
 Date of
Execution: September 1, 2006 
 Party B: (signature) 
 Date
of Execution: September 1, 2006 : 

 Exhibit A: 
 Letter of Declaration 
 I am
                                        
(name) working in the                      (department), hereby declare that: 
 I have terminated or have no employment agreement with any other employer when I become a formal employee of Hurray! Times Communications (Beijing) Ltd.
on                     . In case of any labor dispute arising therefrom, I will assume any and all responsibility and liability resulting
therefrom. 
 My personnel record is currently kept at
                    , and my social insurance record is currently kept at
                    , as my personnel record and social insurance record can not be transferred to the agency designated by Hurray! Times
Communications (Beijing) Ltd. due to my personal reason, after consultation with Hurray! Times Communications (Beijing) Ltd., we agree as follows: I will pay my insurance premium at my original agency, while Hurray! Times Communications (Beijing)
Ltd. shall add its share of my premium under the social insurance scheme to my salary as compensation on a monthly basis, such compensation is already included in the remuneration package as set forth in the employment agreement between Hurray!
Times Communications (Beijing) Ltd. and me. (this paragraph shall be deleted in case the said personnel record has already been transferred to the Company.) 
 Declarer (signature and seal)        date:                     

 Exhibit B: 
 Modifications to Employment Agreement 
 The Parties hereby agree to make the following changes to this Agreement on the basis of equality,
willingness, and mutual consent through consultation: 
  

			
	Party A (signature and seal)	  	Party B (signature and seal)
		
	 Legal Representative or
 authorized representative
(signature and seal)
	  	
		
	Date:                     	  	Date:                     

 Exhibit C: 
 Employment Agreement Renewal Form 
 This renewal agreement shall be an agreement of a
             term, commencing from                      (date) and ending
on                      (date). The parties hereto shall continue to perform the original Agreement. 
  

			
	Party A (signature and seal)	  	Party B (signature and seal)
		
	 Legal Representative or
 authorized representative
(signature and seal)
	  	
		
	Date:                     	  	Date:                     

 Confidentiality Agreement 
 Party A: Hurray! Times Communications (Beijing) Ltd. 
 Legal Representative: Xiang Songzuo 
 Party B: Wang Jiang 
 ID Card No.: 610113197301177612

 (Party A and Party B are hereinafter referred to individually as a “Party” and collectively as “Parties”.) 
 WHEREAS: 
  

	 	1.	The Parties have entered into a legally binding Employment Agreement, pursuant to which Party B shall comply with and accept all the confidentiality rules adopted by Party A;

  

	 	2.	Party A has performed its obligations in strict compliance with the Employment Agreement, to which Party B has never raised any objection; 

  

	 	3.	Party B will have unavoidable access to certain intellectual property, trade secret, technological achievements, etc. in connection with the business operations of Party A while
working for Party A in the capacity of Party A’s employee; 

  

	 	4.	In signing this Confidentiality Agreement (“Agreement”), Party B has made a written notice to Party A of all the patented technologies, authorship rights and trade secrets
already in the possession of Party B and the intellectual property rights, trade secrets or technological achievements which Party B has undertaken to keep in confidentiality to any third party under laws or contracts; 

  

	 	5.	Each of the Parties fully understands the rights and obligations under this Agreement, and understands accurately the legal meaning of all the terms hereunder.

 In order to protect Party A’s intellectual property rights and legitimate interests and define Party
B’s responsibilities to keep in confidence the intellectual property rights and trade secrets of Party A, the Parties have entered into this Agreement for mutual observance on the basis of equality, willingness, mutual consent through
consultation and in accordance with the relevant laws and regulations of the State and the particularities of the industry. 
 Chapter 1
Definitions 
  

	Section 1	Intellectual Property Rights 

 For the purpose of
this Agreement, the Intellectual Property Rights include but are not limited to the following, of which Party A has the ownership: 
  

	 	1.	Patented technologies such as inventions approved by the State; 

  

	 	2.	New technologies or intermediate achievements in the process of research and development that may become patents such as inventions; 

  

	 	3.	Significant scientific and technological research achievements of which there is a lack or which have already existed but are required to be kept in confidence in any other country;

  

	 	4.	Special know-how and traditional techniques, including the design drawings and manufacturing techniques of products, etc.; 

  

	 	5.	Confidential data or parameters available to Party B, including system configuration, system security and users with access, etc. 

  

	 	6.	Proprietary rights to registered trademarks, shop names, and other marks; 

  

	 	7.	Technological information, including but not limited to floppy disk, thesis, report, brochure, photographic picture, design drawing, technology document, achievement authentication,
etc; 

  

	 	8.	Proprietary technology or any information that is a trade secret of Party A; 

  

	 	9.	Proprietary rights of Party A to the intellectual products of Party B, etc. 

  

	Section 2	Trade Secrets 

 The term “Trade Secrets”
used in this Agreement refer to technology information, business information, management information, and legal information, etc. of commercial value and outside of the public domain in accordance with the laws and regulations or owned, used,
controlled or provided by Party A, including but not limited to: 
 1. Technology information 

 Including but not limited to designs, programs, product formulas, manufacturing techniques, manufacturing
methods, such as any existing product design, data, target programs, brochures, files, development plans, computer software and its algorithm and design information, etc. or any such information in the process of development or contemplation by
Party A. 
 2. Business information 
 Including but not limited to client lists, supply information, production and marketing strategies, minimum bids and contents of tendering and bidding documents, etc. such as Party A’s business plans, production bases, experiment
bases, lists of engineers, selling methods, suppliers, agents and client lists, special demands of clients, unopened service networks and Party A’s existing or proposed business project plans, etc. 
 3. Management information 
 Including but
not limited to Party A’s work plans, organization structure, management pattern, management technique, personnel, financial affairs, salary and benefits, property and equipment, training materials, etc., any existing or proposed internal
business regulations, work process, management system and documents about management policies of Party A. 
 4. Legal information 

Including but not limited to: Party A’s projects, negotiations about contracts and contract performance, patent application, licensing and
transfer, trademark registration and application, the major contents of the contracts to be performed, or under performance by Party A or already performed but with latent disputes, foreign contracts of security, overseas investment, property right
dispute, pending or predictable actions, arbitrations and administrative punishments, etc. 
 5. Any other information relating to Party A or
its clients that are required to be kept in confidence by Party A. 
 Including but not limited to the information received directly or
indirectly by Party B from Party A, Party A’s employee and any client that was, is or will be in any business relationship with Party A. 
  

	Section 3    	Technological Development Achievement for Hire 

 The
term “Technological Development Achievement for Hire” used in this Agreement shall mean all the research and development achievements completed or contemplated by Party B in the performance of his duties during the term of his employment
with Party A by utilizing the technologies, equipment and resources of Party A, including mainly: 
  

	 	1.	Project design and technology archives of products; 

	 	2.	Computer software and its algorithm, design plan, etc. 

 Chapter 2 Ownership of Intellectual Property 
  

	Section 4    	Party B is obliged to notify Party A in writing of the details of such inventions, new works, creation, design, copyright works (including computer software, database),
improvement, discovery, process, know-how and any other information or event generating any Intellectual Property as a result of the research, manufacturing, creation, design by Party B or otherwise received by Party B, individually or together with
any other person during the term of Party B’s employment with Party A. 

  

	Section 5    	Party A has the ownership of all the inventions obtained by Party B due to his capacity as Party A’s employee during the term of Party B’s employment with Party A,
including but not limited to rights under domestic and overseas patent applications, and titles to computer software, trademark and logo design, and know-how. Party A has the first use right to the non employment-related inventions and works for
hire of Party B, including but not limited to the right of priority to licensing and right to use for free, etc. Party B consents that he shall upon Party A’s request take any legal means as Party A deems necessary to obtain and protect all the
foregoing achievements and Intellectual Property. 

  

	Section 6    	Party A shall have the ownership of the Intellectual Property Rights to the following research and development achievements obtained by Party B outside of his employment
relationship with Party A: 

  

	 	1.	Such achievements that are competitive with the business of Party A; 

  

	 	2.	Such achievements that are obtained through preempting or utilizing the achievements of research or development of Party A; 

  

	 	3.	Such achievements that are related in nature, contents and form with Party B’s work for Party A. 

  

	Section 7    	 Any newly hired employee may transfer to Party A the Intellectual Property Right to the achievement that he brings with himself if with consent from Party A,
and Party A shall pay a reasonable price therefor, provided that Party B shall warrant in writing that he shall be entitled to the Intellectual Property Right to such achievement, and, if Party B is not 

	 	 
fully entitled to the Intellectual Property Right to such achievement, Party B shall return the price received for the transfer and bear all the losses
suffered by Party A as a result thereof. 

  

	Section 8    	If Party B is an Officer (i.e. employee at the rank of manager or above, including key technical staff, the same hereinafter) of Party A, Party A shall have the ownership of
all the research and development achievements in connection with Party B’s jobs or tasks assigned by Party A obtained by Party B during the term of his employment with Party A, and within two years after he has left, resigned from, been
removed, or has been dismissed by Party A or otherwise left Party A. Without Party A’s consent, Party B shall not further improve or enhance the technological achievements obtained during his employment with Party A and owned by Party A. Party
A shall have the first use right to any achievements resulting therefrom, including the right of priority to licensing and to use for free, etc. 

  

	Section 9    	If Party B is an Ordinary Employee (including managerial staff, technical staff, salesmen, etc., the same hereinafter) of Party A, Party A shall have the ownership of all the
research and development achievements in connection with Party B’s jobs or tasks assigned by Party A obtained by Party B during the term of his employment with Party A, and within one year after he has left, resigned from, been removed, or has
been dismissed by Party A or otherwise left Party A. Without Party A’s consent, Party B shall not further improve or enhance the technological achievements obtained during his employment with Party A and owned by Party A. Party A shall have the
first use right to any achievements resulting therefrom, including the right of priority to licensing and to use for free, etc. 

  

	Section 10    	Party B shall not infringe upon any Intellectual Property Rights of Party A during the term of his employment with Party A, and after he has left, resigned from, or has been removed
or dismissed by Party A or otherwise left Party A. 

 Chapter 3 Protection of Trade Secrets 
  

	Section 11    	During the term of his employment with Party A, Party B shall take seriously and scrupulously comply with all the confidentiality policies adopted by Party A, and perform the
confidentiality responsibilities appropriate to his position. Party B shall not use or disclose all the Trade Secrets of Party A unless authorized by Party A in writing. 

  

	Section 12    	Party B shall use the Trade Secrets of Party A that Party B has access to or uses due to his work during the term of his employment with Party A to the extent and under the
procedure as required by Party A. Without Party A’s written consent, Party B shall not take the relevant materials out of the offices of Party A, or duplicate, relocate or distribute the materials containing Party A’s Trade Secrets, nor
shall Party B disclose Party A’s Trade Secrets in conferences such as academic conference and technology authentication meeting, and in the media such as newspaper, magazines, or information networks. 

  

	Section 13    	Party B shall not use Party A’s Trade Secrets to work for Party A’s competitor or disclose such Trade Secrets to any third party by any means. During the term of his
employment with Party A and after resignation for any reason, Party B shall not take advantage of Party A’s Trade Secrets to seek profits for his own, or for Party A’s competitors or any third party. Party A shall not directly or
indirectly use, distribute, transmit, publish or issue Party B’s Trade Secrets for any other purpose or even without any purpose. 

  

	Section 14    	Party B shall return to Party A all the company files, records, notes, data, program lists, floppy disks, and information in any other media available to him within 30 days
before he leaves his post for the purpose of work or any other reason. A special handover shall be conducted for the information on software development and such information shall not be duplicated or retained by Party B. All the business
information shall be returned to Party A, whether containing or related to Party A’s information, and whether obtained by Party B through his own collection and processing or provided to Party B by any other person. Otherwise, in addition to
the right of recourse retained by Party A, Party B shall indemnify for any losses thereby incurred to Party A. 

	Section 15    	If Party B’s employment relationship with Party A has terminated, Party B shall not take advantage of Party A’s Trade Secrets to do new research and development
without the consent from Party A until such Trade Secrets have been released into the public domain of the industry. 

  

	Section 16    	If it is found that Party A’s Trade Secrets has been infringed upon or illegally used or divulged, Party B has the obligation to assist Party A in taking actions to
prevent further spread of such infringement or illegal use or the further transmission of such Trade Secrets. 

  

	Section 17    	Party B undertakes to abide by the code of ethics and the generally accepted standards in the business community. Party B consents to and complies with the requirements and
agreements in respect of non-competition. Party B undertakes that, without Party A’s consent, he shall in no case take up any related position in any company, commercial institution or organization that competes with Party A, including but not
limited to such posts as may have adverse effects on the operations, technologies, management and financial affairs of Party A, nor provide to such company, commercial institution or organization and any third party with information or data
regarding Party A’s Trade Secrets, or directly or indirectly conduct any business in competition with Party A, within one year after this Agreement expires, terminates or is cancelled. 

  

	Section 18    	The company, commercial institution or organization that competes with Party A shall refer to such company, commercial institution or organization in any of the following
circumstances or deemed to be in competition with Party A under laws and regulations: 

  

	 	(1)	Operates in the same or similar field of business or technology as Party A; 

  

	 	(2)	Operates in the same or similar business scope as Party A; 

  

	 	(3)	Provides the same or similar products or services to the same customer base as Party A; 

  

	 	(4)	Any other circumstances as provided for in laws and regulations. 

  

	Section 19    	 Party A consents to pay an amount equal to 20% of Party B’s salary as the compensation for Party B to perform his 

	 	 
confidentiality and non-compete obligation in connection with Party A’s Trade Secrets. Such compensation has been included in the compensation package
as set forth in the Employment Agreement entered into by and between the Parties. 

  

	Section 20    	Party B undertakes that during his employment with Party A, he shall not use any trade secret of any other person, nor shall he do any act of infringement of any other
person’s trade secrets. In the event that Party B’s breach of such undertakings has resulted in any action against Party A, Party B shall be responsible for any loss, costs and expenses incurred by Party A in its response to such action
and shall assume any related legal responsibility. 

 Chapter 4 Default Liabilities 
  

	Section 21    	Party A shall indemnify Party B for any loss suffered by Party B by reason of Party A’s breach of any provision of this Agreement. 

  

	Section 22    	In the event that Party B breaches any provision of this Agreement, or Party B proposes to early terminate or cancel his employment relationship with Party A or this
Agreement, or causes any damage to Party A in any other manner other than approved by Party A, Party B shall be deemed to be in breach of this Agreement, and shall compensate Party A in the amount equal to twice of the monthly salary of Party B. If
such amount is insufficient to compensate any and all the losses suffered by Party as a result thereof, Party B shall indemnify Party A for all such losses. 

  

	Section 23    	In the event that Party A suffers any significant loss by reason of Party B’s material breach of this Agreement, Party A may petition to relevant administrative and
judicial authorities for investigation of Party B’s criminal or economic liabilities. 

  

	Section 24    	In the event that Party B breaches any provision hereof, Party B shall continue performing this Agreement in addition to the foregoing liabilities. 

 Chapter 5 Dispute Resolution and Miscellaneous 
  

	Section 25    	This Agreement shall be construed and interpreted according to the original intents and purpose of this Agreement. In case any dispute arises out of anything herein or the
performance of this Agreement, the Parties shall try to resolve such dispute through consultations. In case such consultations fail, the Parties agree to deal with such dispute in accordance with the relevant provisions of the Employment Agreement
or submit such dispute to the labor dispute arbitration body as specified in the Employment Agreement for arbitration or bring a lawsuit before the People’s Court. 

  

	Section 26    	The invalidity or termination of the employment relationship between the Parties or this Agreement shall not affect the validity of provisions for interpretation of this
Agreement, confidentiality, non-competition and dispute resolution in this Agreement. 

  

	Section 27    	In case this Agreement conflicts with any newly issued law or regulations during the performance hereof, the Parties shall amend relevant provisions in the light of such law
or regulations, provided that such amendments here to shall not affect the validity of the balance of this Agreement. 

  

	Section 28    	No failure of either Party in executing its rights or taking any acts against any default liability of the other Party shall be deemed to be a waiver of such rights or such
default liability, save for any right not executed by one Party within two years from the date it is or shall be aware of such right (the “one year” requirement may be inconsistent with the period as required in laws. Any dispute arising
from such inconsistency shall be governed by the provisions of laws, other than this provision). No waiver by either Party of any right against the other Party or of any default of the other Party shall be deemed the waiver of any other right or any
other default of the other Party. 

  

	Section 29    	This Agreement is attached as an exhibit to the Employment Agreement executed by the Parties, and shall be an integral part of the Employment Agreement.

	Section 30    	Anything not covered in this Agreement shall be dealt with in a supplementary agreement executed by the Parties through consultations. Neither Party shall modify this
Agreement without the written consent by both Parties. 

  

	Section 31    	This Agreement is made in two originals, with each Party holding one thereof, both of which shall be equally authentic. 

  

	Section 32    	This Agreement shall take effect upon signature and seal by the Parties. 

 (The remainder of this page intentionally left blank) 

 Party A: Hurray! Times Communications (Beijing) Ltd. (Seal) 
 Legal representative or authorized representative: (Signature) 
 Date: September 1, 2006 
 Party B: (Signature) 
 Date: September 1, 2006

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