Document:

English translation of Fengshenbang Advertisement Display Agreement

 Exhibit 10.15 
 

 
 Hainan White Horse Advertising Media Investment Co., Ltd. 
 Fengshenbang Advertisement Display Agreement 
 (For Advertising Agency Use) 
 September 25, 2007 

 Fengshenbang Advertisement Display Agreement 
 Party A: Sichuan Time Share Advertising & Communication Co., Ltd. 
 Address and telephone: 
 Representative: 
 Party B:
Hainan White Horse Advertising Media Investment Co., Ltd. 
 Address and telephone: 4F Business Building, Middle Section of Jiangwan Mansion, 298 Yanjiang
Middle Road, Guangzhou City. 
 Representative: 
 In conformity
with the will of friendly cooperation and common development, Party A and Party B have, upon the business that Party A rents Party B’s Fengshenbang bus shelter advertising & media network (hereinafter referred to as Fengshenbang
advertising & media network) to display commercial advertisements, come into the following agreement: 
 I. Plan and Price for Advertisement
Display 
  

	 	1.	Within the one year’s period from October 1, 2007 to September 30, 2008, Party A rents Party B’s Fengshenbang advertising & media network
to display commercial advertisements. Party A promises to, within the said period and pursuant to terms set forth under Fengshenbang Advertisement Display Contracts which are the specific contracts executed by both parties with respect to the
implementation of displaying advertisement, fulfill the total accumulated contract amount (based on the actual contract amount for advertisement display after being discounted according to the Fengshenbang Advertisement Display Contract and
exclusive of commissions of advertising agencies) of no less than RMB100,000,000.00 (In words: Renminbi One Hundred Million Yuan). 

  

	 	2.	On the basis of the previous clause and in accordance with relevant stipulations in the Fengshenbang Sunshine Quotation, both parties will determine the prices for the Fengshenbang
Advertisement Display Contracts in the form of quotation for the display of advertisement. Party A is entitled to the following accumulative discounts and preferences: 

  

	 	(1)	Party A is entitled to an advertising agency commission equivalent to 15% of the amount of the discounted quotation; 

  

	 	(2)	Party A is entitled to the highest level of preference for the annual agreements signed with advertising agencies according to the Fengshenbang Sunshine Quotation, amounting to 15%
cash discount. 

	 	 (3)
	 [***]1

  

	 	3.	Upon completing the display of advertisement by Party B, Party A shall confirm the situations relating to the display of advertisement in written form on the last day of the lease.
It shall be deemed as that Party A holds no disagreement if Party A fails to make the written confirmation within seven days upon the last day of the lease. 

 II. Advance deposit 
  

	 	1.	Party A agrees to, in accordance with the Agreement, pay RMB10 million as the deposit to Party B for the purpose of this Agreement; upon the completion of remitting the deposit into
the designated account in full amount and on time, Party B will, in accordance with preferences and discounts set out by Article I.2 of the Agreement, enter into the Fengshenbang Advertisement Display Contract with Party A. 

 

	 	2.	Within 10 business days (counted from the date when the discounted contract amount was remitted to the account designated by Party B in full amount) upon the date when Party A has
fulfilled the total accumulated amount pursuant to Article I.1 of the Agreement and the Fengshenbang Advertisement Display Contracts, Party B shall refund the deposit of RMB10 million to Party A in a lump sum, or use the deposit to offset the
payables from Party A with respect to relevant specific contracts according to this Agreement. 

 III. The Agreement 
  

	 	1.	This Agreement serves as the general agreement of cooperation between Party A and Party B, and all specific items relating to the display of advertisements on the Fengshenbang
advertising & media network shall be executed according to the Fengshenbang Advertisement Display Contracts which are the specific contracts executed by both parties with respect to the implementation of displaying advertisement. All
payables for advertisement displays shall be paid pursuant to the Fengshenbang Advertisement Display Contract. 

  

	 	2.	Provided that Party B’s Fengshenbang Sunshine Quotation is updated within the term of the Agreement, both parties shall, as of the effective date of the newly published
quotation, execute the Fengshenbang Advertisement Display Contract in accordance with the price set out by the new quotation, while the preferences and discounts set forth in the Agreement are still applicable within the term of the Agreement.

  

	 1
	 This portion of the Contract has been omitted and filed separately with the Securities and Exchange Commission, pursuant
to Rule 406. 

	 	3.	Any Fengshenbang Advertisement Display Contract being entitled to the preferences and discounts set forth under this Agreement shall not enjoy other kinds of preferences granted
according to Fengshenbang Sunshine Quotation. 

  

	 	4.	All the Fengshenbang Sunshine Quotation effective within the term of the Agreement shall serve as appendix of the Agreement. 

  

	 	5.	Fengshenbang Advertisement Display Contract shall serve as the appendix of the Agreement. The implementation of all specific items to be displayed and other related matters (such as
confirmation of site selection, payment and compensation, etc.) shall be in compliance with the Fengshenbang Advertisement Display Contracts. 

  

	 	6.	Unless otherwise stated under the Agreement, the Fengshenbang Advertisement Display Contracts shall prevail if any clause of the Fengshenbang Advertisement Display Contract
contradicts with that of the Agreement. 

  

	 	7.	After both parties signing the Fengshenbang Advertisement Display Contract, Party A shall, within the time limit prescribed by the contract, pay off all payables. The implementation
of specific payments shall be in compliance with the stipulations under the Fengshenbang Advertisement Display Contract executed by both parties. 

 IV. Confidentiality 
 Both Party A and Party B shall strictly keep secret of all commercial information included in the
Agreement, including but not limited to release amount promise, discounted projects and levels, specific measures of implementation of the contract, and payment arrangement, etc.; and affiliated institutions and clients of both parties shall also
bear the same confidentiality obligation. Without written approval from Party B, any party of Party A and Party A’s affiliated institutions and clients shall not disclose or transfer the commercial information to any other third party,
otherwise Party B shall have the right to suspend related preferences, draw back the discounted amounts enjoyed by Party A, confiscate the deposit of the Agreement, and reserve the right to ascertain relevant legal liability of the default party as
well as corresponding economic compensation. 
 V. Formation, effectiveness of contract and others 
  

	 	1.	The Agreement shall come into effect as of the date when Party A pays the deposit to Party B in full amount and on time, and shall have the force and effect.

	 	2.	The signing representative may be either the legal representative or other persons who affix the common seal. 

  

	 	3.	Matters not covered by the Agreement shall be subject to clauses of Fengshenbang Advertisement Display Contract, or, if the contract has no relevant stipulation, be resolved through
friendly negotiations by both parties. If the negotiation fails, both parties agree to submit the dispute to local people’s court at the locality of plaintiff for adjudication. 

  

	 	4.	The Agreement serves as an integral part of the Fengshenbang Advertisement Display Contract executed by both parties, and is in duplicate, with each party holding one, and both
copies shall have the same effectiveness. 

 (The under page has no text) 
 (The signing page) 
 Party A: Sichuan Time Share Advertising & Communication Co., Ltd. 

			
		
	Representative:	 	

 Party B: Hainan White Horse Advertising Media Investment Co., Ltd. 
  

			
	Representative:	 	/s/ stamp of Hainan White Horse Advertising Media Investment Co., Ltd.

 Supplementary Agreement 
 to the Fengshenbang Advertisement Display Agreement 
 Party A: Sichuan Time Share Advertising
& Communication Co., Ltd. 
 Representative: 
 Party B:
Hainan White Horse Advertising Media Investment Co., Ltd. 
 Representative: 
 Party A and Party B entered into the Fengshenbang Advertisement Display Agreement (hereinafter,
the “Original Agreement”) dated 25th September, 2007. According to Article I.1, the valid period of the Original Agreement is from
1st October, 2007 to 30th September, 2008. By
negotiation, the Parties enter into this Supplementary Agreement to the Agreement under the following terms: 
 1. The Parties agree to extend the valid period of the Original Agreement to 30th September, 2009. 
 2. Party A promises to, within the period from 30th September, 2008 to 30th September, 2009 and pursuant to terms set forth under
Fengshenbang Advertisement Display Contracts which are the specific contracts with respect to the implementation of displaying advertisement, fulfill the total accumulated contract amount (based on the actual contract amount for displaying
advertisement after being discounted according to the Fengshenbang Displaying Advertisement Contract and exclusive of commissions of advertising agencies) of no less than RMB120,000,000.00 (In words: Renminbi One Hundred and Twenty Million Yuan).

 3. Except with the content of this Agreement, within the extended valid period to the Original Agreement, the Parties agree to execute all
other terms set forth in the Original Agreement. 
 4. The parties, within the extended period of the Agreement, may supplement and/or modify
the Original Agreement through negotiation due to their business. 
 (No text below) 
 Party A: Sichuan Time Share Advertising & Communication Co., Ltd. 
 Representative: /s/ stamp of Sichuan Time Share
Advertising & Communication Co., Ltd. 
 Date: 
 Party B:
Hainan White Horse Advertising Media Investment Co., Ltd. 
 Representative: /s/ stamp of Hainan White Horse Advertising Media Investment Co., Ltd.

 Date:English translation of Asset Transfer Agreement dated August 22, 2007

 Exhibit 10.16 
 Sichuan Time Share Advertising & Communication Co., Ltd. 
 Wuhan Huawei Advertising Co.,
Ltd. 
 Huashan Chen 
 And 
 Hanyu Song 
 Assets Transfer Agreement 
 August 22, 2007 
  

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 This Assets Transfer Agreement (hereinafter “Agreement”) is entered into among the following parties on
August 21, 2007 in Beijing: 
 Transfer: Wuhan Huawei Advertising Co., Ltd. (hereinafter “Party A”) 
 Address: Room 2401-2403, Central Tower (B), 31 Yunlin Street Jiang’an District, Wuhan 
 Legal Representative: Huashan Chen 
 Transferee: Sichuan Time Share Advertising & Communication Co., Ltd.
(hereinafter “Party B”) 
 Address: Guixi Industrial Park, High-Tech District, Chengdu 
 Legal Representative: Jilun He 
 Huashan Chen (hereinafter “Party C”) 
 Address: Room15-5, 88 Shengli Avenue, Jiang’an District, Wuhan 
 ID
Number: 420103195711233712 
 Hanyu Song (hereinafter “Party D”) 
 Address: Room15-5, 88 Shengli Avenue, Jiang’an District, Wuhan 
 ID Number: 420103580801462 
 Hereinafter, Party A, B and C shall be individually referred to as a “Party”, and collectively as “All Parties.” 
 WHEREAS: 
  

	1.	Party A is a company of limited liability incorporated in accordance with the PRC laws, with independent legal qualifications, engaging in the business of outdoor advertising
distribution and commission. 

  

	2.	Party B is a company of limited liability incorporated in accordance with the PRC laws, with independent legal qualifications, engaging in the business of outdoor advertising
distribution and commission. 

  

	3.	Huashan Chen is a shareholder of Party A, holds a 70% equity interest in Party A, and is the legal representative and [executive director] of Party A. 

  

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	4.	Hanyu Song is a shareholder of Party A, holding a 30% equity interest in Party A. 

  

	5.	Party A agrees to transfer the Assets it operated to Party B pursuant to this Agreement. Party B agrees to accept Party A’s Assets and to pay a corresponding consideration in
accordance with the Agreement. 

  

	6.	According to the written shareholder meeting resolution dated August 21, 2007, the shareholders of Party A approved the proposed Assets Transfer. 

 THEREFORE, based on the contractual undertakings and understandings, All Parties hereby agree as follows: 
  

	1.	Definitions 

  

	 	1.1.	Unless otherwise defined, the following definitions shall apply: 

  

	 	1.1.1.	Assets: For the purposes of this Agreement, assets include (i) the outdoor media resources of Party A; (ii) the business contracts under performance or that will be
performed; (iii) the governmental approvals and authorized business scope relating to the business contracts; (iv) including but not limited to the assets listed in Annex 1, The Checklist of the Operating Assets, of the Agreement.

  

	 	1.1.2.	Employees: The employees employed by Party A pursuant to related laws as of August 22, 2008. 

  

	 	1.1.3.	Assets Transfer: The action of Party A transferring employees and advertising business to Party B, and the action of Party B accepting the transferred employees and advertising
business. 

  

	 	1.1.4.	Consideration of Transfer: The payment made pursuant to Article 3.1 of the Agreement for the transfer of the employees and Assets of Party A. 

  

	 	1.1.5.	New Company: The Company established by Party B for the operation of the Assets (Wuhan Time Share Advertising & Communication Co., Ltd.) 

  

	 	1.1.6.	Closing Date: The date when Party A transfers the transferred employees and advertising business to the transferee (Party B) for its employment, ownership, occupation and real
control, which date is September 30, 2007. 

  

	 	1.1.7.	Working Day: Any date other than Saturday, Sunday, an official holiday of PRC or any date that the authorized banks temporally close in the PRC. 

  

	 	1.1.8.	Execution Date: The date all Parties sign the Agreement. 

  

	 	1.1.9.	Effective Date: The Execution Date of the Agreement. 

  

	 	1.1.10.	PRC: The People’s Republic of China, not including the Hong Kong Special Administrative Region, the Macau Special Administrative Region and Taiwan. 

  

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	2.	The Transfer of Assets 

  

	 	2.1.	Party A shall transfer all Assets to Party B following the Execution Date. 

  

	 	2.2.	Party A shall transfer the contracts in relation to the transferred Assets to Party B. For those contracts that are under performance, Party A shall obtain written consents of the
counterpart parties and transfer all rights and obligations under the unfulfilled contracts to Party B. 

  

	 	2.3.	Party A shall transfer the original copies of the written documents in relation to the transferred Assets, including but not limited to contracts, correspondences, licenses and
accounting books, booking and other text, client information and original written consents of counterpart parties, to Party B; in the case that some original copies of the aforesaid documents and client information are not transferred, Party A shall
provide supplementary materials within five days after the Closing Date. Party A shall provide other documents related to the transferred advertising business to Party B per reasonable request of Party B. 

  

	 	2.4.	If the supplementary documents of the transferred Assets provided by Party A pursuant to Article 2.3 are still incomplete, Party A shall be responsible for the performance of the
missed contracts and take all legal responsibilities. However, the rights, including but not limited to the business profit, positive results and accounts receivables, shall be enjoyed by Party B, and Party B may require Party A to take the default
responsibilities. 

  

	 	2.5.	All Parties agree and confirm that April 30, 2007 is the turning point of the contract. Before April 30, 2007, the ownership of the transferred Assets, including but not
limited to business profit, positive results and accounts receivables, are enjoyed by Party A and all responsibilities including but not limited to accounts payables and other obligations are born by Party A; after April 30, 2007, all rights
shall be owned by Party B, and obligations, including but not limited to accounts payables and other obligations shall be born by Party B. The fees shall be settled by the time when Party B pays the first payment. 

  

	3.	Consideration of Transfer and Payment 

  

	 	3.1.	All Parties agree that the total cash consideration for the acquisition of Party A’s Assets is RMB 11 million. 

  

	 	3.2.	Party B or the New Company shall make the payment to Party A as follows: 

  

	 	3.2.1.	Party A shall pay RMB 5.5 million within seven (7) days after the Closing Date (“the First Payment”) 

  

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	 	3.2.2.	The other RMB 5.5 million (“the Second Payment”) shall be made within seven days (7) after the completion of the 2008 financial statement. If the target company
achieves a pretax profit of RMB 14 million between September 1, 2007 and December 31, 2008, Party B shall make the payment of RMB 5.5 million within seven (7) days after the completion of the financial statement; if a pretax
profit of RMB 14 million cannot be achieved, then RMB 5.5 million will be paid to the New Company as a supplement to the balance of audited real profit and the target profit; surplus shall be paid to Party A if there is any, otherwise, no
additional payment shall be made. The abovementioned payment of Party B pursuant to the Agreement shall be deemed as the Second Payment, that is, the consideration of RMB 5.5 million. 

  

	4.	The Pre-conditions of Closing 

  

	 	4.1.	The pre-conditions of the Closing are the fulfillment of the following items or an unanimous written waiver from All Parties: 

  

	 	4.1.1.	Party A shall obtain the consent of the counterpart parties and transfer the unfulfilled rights and obligations to Party B following the Execution Date and no later than
September 30, 2007. 

  

	 	4.1.2.	For purposes of executing the Agreement, Party A is obligated to do the following things in a way satisfactory to Party B: as some contracts related to the target transferred Assets
have defects, including but not limited to defects in contracted parties, contract period, and others, such contracts shall be revised and improved based on the requirements of Party B, including but not limited to revisions, amendments, supplements
or rewriting based on contracts provided by Party B. 

  

	 	4.1.3.	The Assets under this Agreement include a total of more than 23,000 square meters of out-of-home advertising space. Approximately 80% of the advertising media (including all key
media listed in Annex 1) shall have a lease term of longer than three years, and shall have been fully constructed with valid governmental permits. 

  

	 	4.1.4.	Party A shall not change or adjust its current plans, policies, strategies or employee compensations and benefits. Party A and Party C shall not take any actions that adversely
affects the transferred Assets, but shall maintain and add value to the Assets. 

  

	 	4.1.5.	 Within 3 days after the incorporation of the New Company, Party A shall transfer the employment contracts to Party B, and sign employment 

  

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agreements with a two-year term. The completion of the transfer means that the employees transferred to Party B shall release their original employment
contracts with Party A, and sign new employment contracts and other related contracts upon the request of Party B. Party B shall process the social insurance and related issues of the transferred employees based on the requirements of Party B.

  

	 	4.1.6.	Party A and Party C shall urge the owner of Rooms 2401-2403 of Central Tower (B), 31 Yulin Street, Jiang’an District, Wuhan, to enter into a lease contract with Party B or the
New Company with a term no less than 5 years and a monthly rental of RMB1,000. 

  

	 	4.2.	If the abovementioned pre-conditions cannot be fulfilled within 15 working days after the Effective Date of the Agreement, and Party B does not agree to waive the pre-conditions in
writing or postpone the transaction, Party B shall grant Party A a rectification period of seven working days. If Party A still cannot meet the pre-conditions, Party B is entitled to require Party A to bear default responsibilities pursuant to
provision 7 of the Agreement. 

  

	 	4.3.	All Parties agree that since the New Company is in the process of being established, the Assets and employees will not be transferred until the New Company is incorporated. Other
than the payment which is specifically provided to be made by Party B under this Agreement, the rights and obligations of Party B shall be assumed by the New Company. 

  

	5.	Representations and Warranties 

  

	 	5.1.	Party A represents and warrants as follows: 

  

	 	5.1.1.	Party A has been duly incorporated and is validly existing as an enterprise legal person. Party A has obtained all necessary authorizations and permits and has the authority and
capability to execute and perform the Agreement, to complete the Assets Transfer under this Agreement, and to ensure that Party B may fully enjoy the rights of the acquired Assets and realize the purposes of the Agreement through the performance of
the Agreement now and in the future. 

  

	 	5.1.2.	The execution and performance of the Agreement will not result in (1) a violation or conflict with any articles of association or other similar organizational documents;
(2) a violation or conflict with any laws and regulations to which the Assets transferred are subject or result in any material adverse effect due to the violation of such laws; or (3) a breach or conflict with guarantees, contracts,
agreements, licenses, permits, concessions or other documents or arrangements to which Party A is bound, or constitute default under the Agreement. 

  

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	 	5.1.3.	Party A has provided true and accurate copies of all documents in relation to the transferred Assets and has made related representations and warranties. Such documents,
representations and warranties neither include any untrue statements of any material facts, nor any statements resulting in misunderstandings to materials facts. To Party A’s knowledge, there are no facts related to and may have material
adverse effects on the transferred Assets fail to be disclosed in the Agreement and its Annexes or in other written forms by Party A to Party B. 

  

	 	5.1.4.	Party A warrants that all materials provided (including but not limited to media resource contracts and advertising distribution contracts) are true, accurate and complete in every
respect. 

  

	 	5.1.5.	Party A and its employees (other than casual workers and interns) have entered into valid employment contracts. Party A has also entered into corresponding valid contracts with
casual workers and interns. Such contracts have been performed accordingly and there are no defaults or labor disputes or conflicts between Party A and its employees. 

  

	 	5.1.6.	Party A has paid endowment insurance, medical insurance, employment insurance and other social insurance and housing funds for its employees pursuant to related laws and
regulations. 

  

	 	5.1.7.	All the business contracts are valid contracts, beyond doubt of any third parties, judicial and administrative authorities. Related parties have obtained required approvals,
licenses and registrations for the execution and performance of these contracts, without the violation of any related laws and regulations. All business contracts have been performed accordingly, and the bound parties have not violated any
provisions of these contracts. 

  

	 	5.1.8.	Party A is the rightful owner of its Assets and there are no commitments, mortgages, pledges or other guarantee encumbrances, or any pending or potential disputes, actions, fines or
investigations of governmental departments or similar procedures against the Assets. There are no transfer or other similar situations other than transferring to Party B or the New Company in accordance with the Agreement. 

 

	 	5.2.	Party B represents and warrants as follows: 

  

	 	5.2.1.	Party B has been duly incorporated and is validly existing as an enterprise legal person. Party B has obtained all the necessary authorizations and permits and has the authority and
capability to execute and perform the Agreement. 

  

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	 	5.2.2.	The execution and performance of the Agreement will not result in the violation of or conflict with (1) any articles of association or other similar organizational documents;
(2) any laws, conditions or other orders to which Party B is bound; (3) or any contracts and documents to which Party B is one party. 

  

	 	5.2.3.	Party B legally owns its assets, which are sufficient to pay the Consideration of Transfer under the Agreement. Once executed, the Agreement shall be legally and effectively binding
on Party B. Party B shall pay the Consideration of Transfer on time and pursuant to the Agreement. 

  

	 	5.3.	Party A and Party C further represent and warrant as follows: 

  

	 	5.3.1.	Following the Closing Date, Party A and Party C, their current or future affiliated companies, affiliated persons and their employees shall not participate in any business relating
to the transferred Assets and competing with the business of Party B, including but not limited to the following actions: 

 (1) Participate directly or indirectly in any business that is the same as or similar to the transferred business; 
 (2) Facilitate
or permit any third parties competing with Party B to operate or promote same or similar business; 
 (3) Interfere for Party B in
establishing business relationship with Party A’s current clients, customers, employees or suppliers; 
 (4) The names and trademarks
(including the ones under application) previously or currently used by Party A shall not be reused in areas including but not limited to those that are directly or indirectly in the same business as or a similar business to the transferred Assets,
or those that compete with the business operations of Party B. 
  

	 	5.3.2.	Following the Closing Date, if Party A and Party C or their current or future affiliated companies, affiliated persons or their employees participate in any business relating to the
transferred Assets, Party A and Party C undertake to terminate such operations and transfer them to Party B with the permission of Party B. 

  

	6.	The Operation of the New Company 

  

	 	6.1.	Within one month after the acquisition, the shareholder of Party A, Huashan Chen, shall enter into an five-year long employment contract with the New Company (or third party
designated by Party B), according to which Mr. Chen shall enjoy the same compensations and related incentive mechanisms as that of general managers of business centers of Party B, and be subjected to the management of Party B. During the performance
of the employment contract or within two years of the completion or dismissal of the contract, unless with the written consent of Party B, Party A shall not directly or indirectly invest in, operate, manage or be employed to any individuals or
entities competing with the business of Party B, or provide any information, consultation, business secrets or opportunities to such individuals or entities. 

  

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	 	6.2.	After the completion of the acquisition, that is from September 1, 2007 to December 31, 2008, Party C undertakes that the New Company shall achieve a pre-tax profit of no
less than RMB 14 million. 

  

	 	6.3.	Party A shall complete the cancellation of registration of the Target Company with industrial and commercial administration authorities within half a year after the establishment of
the New Company. All rights and obligations of Party A under this Agreement will be transferred to Party C after the cancellation. If the Target Company cannot be cancelled, all its creditor’s rights, debt and legal liabilities shall be born by
Party A. 

  

	7.	Defaulting Liability 

  

	 	7.1.	Any parties’ violation of any provisions of the Agreement shall be deemed as default under the Agreement, and thus shall bear defaulting liabilities. 

 

	 	7.2.	If there is a default under the Agreement, the complying party is entitled to take necessary measures and actions, and to hold the defaulting party liable through legal procedures,
including but not limited to the following: the defaulting party continues to perform the Agreement per the request of the complying party, compensating for default losses, and terminating the Agreement, which can be claimed coincidentally.

  

	 	7.3.	Unless otherwise provided by the Agreement or other agreements, once Party A fulfills its obligations under the Agreement, Party B shall pay the Consideration of Transfer in
accordance with Article 3 of the Agreement. If Party B intently postpones the payment of the consideration, Party B shall take the liabilities of breach of this Agreement. 

  

	 	7.4.	Unless otherwise provided by the Agreement or other agreements, if Party A fails to fulfill its obligations under Article 4.2 of the Agreement, it shall take defaulting liabilities
and continue to perform the Agreement per Party B’s request. 

  

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	8.	Termination 

  

	 	8.1.	The Agreement terminates upon the occurrence of the following matters: 

  

	 	8.1.1.	Upon friendly negotiation, All Parties may unanimously agree to terminate the Agreement. 

  

	 	8.1.2.	If Party A fails to fulfill the preconditions as provided in Article 4.1 pursuant to Article 4.2, Party B may terminate the Agreement. 

  

	 	8.2.	Upon the termination of the Agreement, each Party shall return all records, documents and materials obtained pursuant to the Agreement to the submitting Party, regardless of whether
the aforesaid records, documents and materials were submitted before or after the execution of the Agreement. 

  

	 	8.3.	The defaulting liabilities shall survive with the termination of the Agreement. 

  

	9.	Confidentiality 

  

	 	9.1.	All information submitted by one Party (“the Disclosing Party”) to another Party (“the Receiving Party”) shall be treated as confidential information, shall be
used only for purposes of the transaction as provided in the Agreement, and shall be disclosed to any employees, directors, contractors, representatives, counsels, financial consultants and consultants of the Receiving Party as necessary for the
purposes of the completion of the Agreement based on their respective responsibilities and positions. The Receiving Party itself and on behalf of its employees, directors, contractors, representatives, counsels and consultants agree to abide by the
obligation of confidentiality as provided by the Agreement, and promise and warrant to take measures to ensure the obligation of confidentiality shall not be violated by the Receiving Party and the aforesaid parties getting confidential information
from the Disclosing Party. 

  

	 	9.2.	The aforesaid confidentiality and non-disclosure obligations do not apply to the following information: 

  

	 	9.2.1.	Information that the Receiving Party needs to disclose in accordance with laws, regulations, legal procedures or orders or request of courts with jurisdiction or other supervising
authorities; but the Receiving Party shall immediately inform the Disclosing Party of such written notice. 

  

	 	9.2.2.	Information known or accessible to the Receiving Party before submission; or 

  

	 	9.2.3.	Information that becomes public that cannot be credited to the violation of the confidentiality obligation of the Receiving Party. 

  

	 	9.3.	The obligation of confidentiality shall survive the termination of the Agreement. 

  

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	10.	Settlement of Disputes and Applicable Laws 

  

	 	10.1.	Any disputes arising from or related to the Agreement, including but not limited to the formation, effectiveness, performance, defaulting liabilities, rectification and termination
of the Agreement, shall be resolved by All Parties through friendly negotiations. The dispute can be referred to the local court in the place where Party B is incorporated in case no resolution can be reached within 30 days. The complying party is
entitled to ask the defaulting party to cover the litigation fees (including but not limited to counsel fees and travel charge) and other fees. 

  

	 	10.2.	When any disputes or litigations arise, all Parties shall continue to perform other rights and obligations under the Agreement other than those disputed. 

 

	 	10.3.	The formation, validity, interpretation and performance of the Agreement and the resolution of the disputes under this Agreement shall be subject to PRC laws.

  

	11.	Force Majeure 

  

	 	11.1.	Should one party’s obligations under the Agreement not be sufficiently, timely and appropriately performed due to the effect of any event of force majeure, the performance of
such obligations can be suspended during the period during which the event of force majeure exists. The performance date of the Agreement shall be extended automatically without leading to liabilities under the Agreement, and the extension period
shall be equal to duration of the force majeure. 

  

	 	11.2.	One Party shall immediately inform other parties of the force majeure it encounters, provide evidence of the existence and extension of the force majeure, take all reasonable
possible measures to relieve or eliminate the effect of the force majeure, and resume the performance of obligations after the elimination or relief of such effect. 

  

	12.	General Provisions 

  

	 	12.1.	This Agreement is a complete document, this Agreement and its Annexes constitute the entire agreement and understanding between both parties with respect to the subject matter
hereof and supersedes and replaces all prior oral and written agreements and intents, expressions and understandings between both parties with respect to the subject matter hereof. 

  

	 	12.2.	Unless otherwise provided by laws, the failure or delay in the performance of the rights, powers or privileges under the Agreement shall not constitute the waiver of such rights,
powers or privileges; separate or partial exercise of such rights, powers or privileges shall not prevent the exercise of other rights. 

  

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	 	12.3.	Warranties under this Agreement shall continue to be completely valid after their completion and all provisions of the Agreement shall continue to be valid unless those have been
performed. 

  

	 	12.4.	Any revisions or amendments to this Agreement are not allowed without prior written consent of All Parties. 

  

	 	12.5.	All parties shall pay any fees or tax incurred as a result of the transaction pursuant to PRC laws. 

  

	 	12.6.	All section titles are only for purposes of convenience of reading and shall not affect the meaning or explanation of the content of the Agreement. 

  

	 	12.7.	All annexes of this Agreement shall form an integral part of this Agreement and have the same legal effect as this Agreement. This Agreement is executed in two original copies,
which have the same legal effect, with each party hereto holding one original. 

  

	 	12.8.	Any notice or other written communications to be made pursuant to this Agreement sent from one Party to other Parties shall be made by fax or recognized courier service. Notices
shall be deemed to be duly served if by courier service, on the second day after being delivered to an recognized courier service company; or if by fax, at the receiving time as indicated in the transmission confirmation of relevant document. All
notice or communications shall be sent to the following address of the other Parties or such other addresses as may be notified in written. 

 Party A: Wuhan Huawei Advertising Co., Ltd. 
 Address: Room 2401-2403, Central Tower (B), 31 Yunlin Street
Jiang’an District, Wuhan 
 Party B: Sichuan Time Share Advertising & Communication Co., Ltd. 
 Address: Guixi Industrial Park, High-Tech District, Chengdu 
 Party C: Huashan Chen 
 Address: Room15-5, 88 Shengli Avenue, Jiang’an District, Wuhan 
 Mobile Number: 13908644693 
 Party D : Hanyu
Song 
 Address: Room15-5, 88 Shengli Avenue, Jiang’an District, Wuhan 
 Mobile Number: 13396059699 
  

 12 

 Execution page of the Asset Transfer Agreement entered in Beijing on August 21, 2007 among the following parties:

 Party A (Stamp): Wuhan Huawei Advertising Co., Ltd. 
  

							
	Authorized Representative (Signature):	 	 /s/ Huashan Chen                            
	 		 	

 Date: August 21, 2007 
 Party B (Stamp): Sichuan Time Share Advertising & Communication Co., Ltd. 
  

							
	Authorized Representative (Signature):	 	 /s/ Jilun He                                    

	 		 	

 Date: August 21, 2007 
  

							
	Party C (Signature):	 	 /s/ Huashan Chen                                   
     
	 		 	

 Date: August 21, 2007 
  

							
	Party C (Signature):	 	 /s/ Hanyu Song                                    

	 		 	

 Date: August 21, 2007 
  

 13 

 Supplementary Agreement 
 This Supplementary Agreement (hereinafter “the Agreement”) is entered into among the following parties on March 17, 2008 in Beijing: 
 Assignor: Wuhan Huawei Advertising Co., Ltd. (hereinafter referred to as Party A) 
 Address: 
 Legal representative: 
 Assignee: Sichuan Time Share Advertising & Communication Co., Ltd. (hereinafter referred to as Party B) 
 Address: 
 Legal representative: 
 Chen Huashan (hereinafter referred to as Party C)

 Address: 
 ID No.: 
 Song Hanyu (hereinafter referred to as Party D) 
 Address: 
 ID No.: 
 Hereinafter, Parties A, B, C and D shall be individually referred
to as “A Party” and collectively as “All Parties”. 
 Whereas: 
  

	1.	All Parties to the Agreement have signed the Assets Transfer Agreement (hereinafter referred to as “the Original Agreement”) in Beijing on August 21, 2007. In
accordance with Article 4 of the Original Agreement, Party A shall, prior to September 30, 2007, obtain written approval from the opposite party of the uncompleted contract to transfer all of its rights and obligations under the uncompleted
contract to Party B, and shall complete supplements and corrections of blemishes in the relevant contract in the mode required by Party B. 

  

 14 

	2.	As of March 16, 2008, Party A still fails to transfer partial contracts, including those signed by and between Party A and Wuhan Coca-Cola Beverages Co., Ltd., Wuhan President
Enterprises Food Co., Ltd., Wuhan FAD Trading Co., Ltd., Tianjin Shenyuan Shengshi Advertising & Communication Co., Ltd. and Anhui Heli Co., Ltd, respectively. The receivables in the amount of RMB 1,270,000.00 for the first executive year
have not been received yet. 

  

	3.	For the purpose of not affecting the closing of the acquired assets, All Parties have, through negotiations, come into the following supplementary agreement:

  

	I.	All Parties agree that Sichuan Time Share Advertising & Communication Co., Ltd. make the payment of RMB5,500,000 in accordance with Article 3.2 of the Original Agreement,
with the specific method of payment shown as follows: 

  

	 	1.	To deduct the payables in the amount of RMB156,211.72 of Wuhan Huawei Advertising Co., Ltd. agreed upon by All Parties; 

  

	 	2.	To deduct RMB550,000.00 borrowed from Hubei Time Share Advertising & Communication Co., Ltd by shareholders of Wuhan Huawei Advertising Co., Ltd. for individual purpose;

  

	 	3.	To pay RMB3,523,788.28 upon the receipt of Observation of the Examination on Matters relating to Contract Transfer produced by the law firm; 

  

	 	4.	To pay the remaining amount of RMB1,270,000.00 after completing the sales contracts having yet not been transferred and after collecting all sums for advertisements. By the end of
December 31, 2008, un-transferred sales contracts and uncollected sums for advertisements will not been transferred, with the transfer sums correspondingly deducted. Party B will no longer make any related payment, and it shall be deemed as
that Party B has fulfilled such kind of contractual obligation. 

  

	II.	The RMB1,200,000.00 borrowed by Wuhan Huawei Advertising Co., Ltd. from Sichuan Time Share Advertising & Communication Co., Ltd. has been used for daily operation of Hubei
Time Share Advertising & Media Co., Ltd., and shall therefore be deemed as the working capital additionally invested by Time Share Advertising & Media Co., Ltd. towards Hubei Time Share Advertising & Media Co., Ltd. Thus,
Huawei Advertising Co., Ltd. needs not to make the refund. 

  

	III.	 All Parties, based on the Original Agreement, agree that in the course of assets transfer with Wuhan Huawei Advertising Co., Ltd., Sichuan Time Share
Advertising & Communication Co., Ltd. shall have the right to entrust its subsidiary, namely Hubei 

  

 15 

	 	 
Time Share Advertising & Communication Co., Ltd., to enjoy all rights and meanwhile to bear all obligations under the Assets Transfer
Agreement. Therefore, the above-mentioned payments shall be made by Hubei Time Share Advertising & Communication Co., Ltd. 

  

	IV.	After Hubei Time Share Advertising & Communication Co., Ltd. has made the first installment of payments, Wuhan Huawei Advertising Co., Ltd. shall assume all debts of its
own; moreover, Wuhan Huawei Advertising Co., Ltd., shall stop all advertising operations and make settlements on its own upon the receipt of the second installment payments in accordance with the Agreement. 

  

			
	 Sichuan Time Share Advertising & Communication Co., Ltd.
  
 Signature of the Representative:
  
 /s/ Huang Yunwei
	 	 Wuhan Huawei Advertising Co., Ltd.
  

Signature of the Representative:
  
 /s/ Chen Huashan

	  
 Signature of Chen Huashan:
  
 /s/ Chen Huashan
	 	  
 Signature of Song Hanyu:
  
 /s/ Song Hanyu

  

 16

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