Document:

exv10w5w2

			
	[Translation of Chinese original]
	 	Exhibit 10.5.2

SUPPLEMENTAL AGREEMENT TO THE EQUITY TRANSFER AGREEMENT

THIS SUPPLEMENTAL AGREEMENT TO THE EQUITY TRANSFER AGREEMENT (the “Supplemental Agreement”) is
entered into on this 12th day of August 2009 by and among:

	(1)	 	REDGATE MEDIA AD CO., LTD., a limited liability company duly established and validly existing
under the laws of the People’s Republic of China, with its domicile at Suite 804, Building 2,
19 Jianguomenwai Avenue, Chaoyang District, Beijing (“Party A”); and
	 
	(2)	 	XIAOYI LU, a natural person and citizen of the People’s Republic of China whose ID card
number is 110102197211200850 and whose residential address is at Flat 1101, Building 2, 10
Beisanhuanzhong Road, Xicheng District, Beijing;
	 
	 	 	FENGCHUN LU, a natural person and citizen of the People’s Republic of China whose ID card
number is 120104197004033820 and whose residential address is at Flat 2108, 18
Hongjunyingdong Road, Chaoyang District, Beijing; and
	 
	 	 	XIAO JIANG, a natural person and citizen of the People’s Republic of China whose ID card
number is 411381198206030028 and whose residential address is at Flat 502, Entrance 4,
Building 1, Qicai Huayuan, Haidian District, Beijing; (Xiaoyi Lu, Fengchun Lu and Xiao Jiang
are hereinafter collectively referred to as “Party B”).

WHEREAS:

	(1)	 	On October 8, 2007, the Parties executed an Equity Transfer Agreement (the “Equity Transfer
Agreement”), pursuant to which Party B agreed to transfer its 100 percent Equity Interest in
Beijing Meiyixinfeng Media Technology Co., Ltd. (the “Company”) to Party A without
consideration, of which Xiaoyi Lu was to transfer 75 percent of the Equity Interest of the
Company to Party A without consideration, Fengchun Lu was to transfer 20 percent of the Equity
Interest of the Company to Party A without consideration and Xiao Jiang was to transfer 5
percent of the Equity Interest of the Company to Party A without consideration.
	 
	(2)	 	Based on further negotiations, the Parties have agreed that Party A shall no longer acquire
100 percent of the Equity Interest of the Company without consideration, but shall acquire the
same for a transfer price of RMB Five Hundred Thousand (RMB500,000) as payable to Party B.

NOW, THEREFORE, following amicable consultations, the Parties agree to amend the relevant
provisions of the Equity Transfer Agreement as follows:

	1.	 	The Parties have agreed to amend item (B) of the Recitals of the Equity Transfer Agreement to
read as follows:
	 
	 	 	“The Parties agree that Party A shall acquire 100 percent of the Equity Interest of the
Company owned by Party B (the “Proposed Equity Transfer”) for the sum of RMB Five Hundred
Thousand (RMB500,000) (the “Transfer Price”) on the terms and conditions hereof, of which 75
percent of the Equity Interest shall be acquired from Xiaoyi Lu, the 20 percent of the
Equity Interest shall be acquired from Fengchun Lu and the 5 percent of the Equity Interest
shall be acquired from Xiao Jiang.”
	 
	2.	 	The Parties have agreed to amend “Article 2. Equity Transfer” of the Equity Transfer
Agreement by adding the following provisions as Article 2.4:

 

 

	 	“2.4	 	 Within two Working Days of the execution date hereof, Party A shall pay the
Transfer Price in the amount of RMB Five Hundred Thousand (RMB500,000) to Party B, of
which Party A shall pay a Transfer Price in the amount of RMB Three Hundred and
Seventy-five Thousand (RMB375,000) to Xiaoyi Lu to acquire the 75 percent of the Equity
Interest held by Xiaoyi Lu, a Transfer Price in the amount of RMB One Hundred Thousand
(RMB100,000) to Fengchun Lu to acquire the 20 percent of the Equity Interest owned by
Fengchun Lu and a Transfer Price in the amount of RMB Twenty-five Thousand (RMB25,000)
to Xiao Jiang to acquire the 5 percent of the Equity Interest owned by Xiao Jiang.”

	3.	 	The Parties have agreed to amend Article 4.2 of the Equity Transfer Agreement to read as
follows:
	 
	 	 	“The Parties shall use all reasonable efforts to procure the fulfillment of all Conditions
to the Closing.”
	 
	4.	 	The Parties have agreed to amend Article 4.4 of the Equity Transfer Agreement to read as
follows:
	 
	 	 	“The Closing of the Proposed Equity Transfer shall take place in Beijing on the Closing
Date. At the time of the Closing, Party A shall deliver to Party B the payment voucher
evidencing that Party A has paid the Transfer Price into Party B’s account and Party B shall
deliver to Party A a photocopy, bearing the Company’s official seal, of the document
evidencing that the changes in the registration of the Company has been made with the
Registration Authority and provide the original.”
	 
	5.	 	The Parties have agreed to amend Article 4.5 of the Equity Transfer Agreement to read as
follows:
	 
	 	 	“The non-breaching Party may make a claim to the breaching Party for all claims, expenses,
costs, losses and liabilities incurred or arising in connection with the said breach,
whether directly or indirectly, if:

	 	4.5.1	 	Party B fails to perform or to perform in a timely manner its obligations
under Article 4.1 hereof, thereby making the Closing of the Equity Transfer impossible;
or
	 
	 	4.5.2	 	Party A fails to pay to Party B the Transfer Price in full by the date
specified in Article 2 hereof.”

	6.	 	The Parties have agreed to amend Article 4.6 of the Equity Transfer Agreement to read as
follows:
	 
	 	 	“If the Closing cannot commence within five Working Days from the execution date hereof due
to a reason not attributable to the Parties hereto, the Parties shall promptly hold mutual
consultations to seek an acceptable solution thereto.”
	 
	7.	 	The Parties agree that the foregoing amendments to the Recitals, relevant provisions of
Article 2, and Articles 4.2, 4.4, 4.5 and 4.6 (the “Original Articles”) of the Equity Transfer
Agreement made by this Supplemental Agreement constitute the substitutions or supplementations
of the Original Articles. Additionally, the validity of the Articles of the Equity Transfer
Agreement, other than the Original Articles, remains unchanged as does their enforceability
against Party A and Party B.

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	8.	 	Unless otherwise expressly specified, the meanings of the terms used in this Supplemental
Agreement shall be the same as those of the corresponding terms used in the Equity Transfer
Agreement.
	 
	9.	 	This Supplemental Agreement is made in Chinese in seven counterparts, of which Party A shall
hold one original, each party comprising Party B shall hold one original and the remaining
originals shall be used for the registration of the changes with the relevant Registration
Authority.
	 
	10.	 	This Supplementary Agreement shall enter into effect on the date it is signed/sealed by the
Parties or their authorized representatives.

[Remainder of page intentionally left blank]

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Execution Page for the Supplementary Agreement to the Equity Transfer Agreement

	 	 	 	 	 
	REDGATE MEDIA AD CO., LTD. [company seal]

 	 	 
	By:  	/s/ Ying Zhu
 	 	 
	 	Name of authorized representative: Ying Zhu 	 	 

	 	 	 	 	 
	XIAOYI LU

 	 	 
	Signature:  	/s/ Xiaoyi Lu
 	 	 

	 	 	 	 	 
	FENGCHUN LU

 	 	 
	Signature:  	/s/ Xiaoyi Lu on behalf of Fengchun Lu
 	 	 

	 	 	 	 	 
	XIAO JIANG

 	 	 
	Signature:  	/s/ Xiaoyi Lu Xiao Jiang
 	 	 

4exv10w5w3

Exhibit 10.5.3

Subscription Agreement

October 8th, 2007

Redgate Media Inc.

Redgate Media AD Co., Ltd.

and

Lu Xiaoyi

 

SUBSCRIPTION AGREEMENT

 

 

 

Subscription Agreement

THIS SUBSCRIPTION AGREEMENT (this “Agreement”) is made in Beijing, the People’s Republic of China
(the PRC), on October 8th, 2007

Among

Redgate Media Inc. (“Company”), a company incorporated under the laws of Cayman Islands with its
registered office at Scotia Centre, 4th Floor, P.O. Box 2804, George Town, Grand Cayman, Cayman
Islands, British West Indies;

and

Redgate Media AD Co., Ltd  (  ) (“PRC Redgate  (  ) ”),

a company incorporated under the laws of the PRC with its registered
office at B1807, Jianwai SOHO, 39 East 3rd-Ring Road, Chaoyang, Beijing, China;

and

Lu Xiaoyi (“Subscriber”), citizen of the PRC, whose PRC passport number is
G10765870

The Company, PRC Redgate  (  ) and the Subscriber are collectively referred to as the
“Parties” and individually as a “Party”.

Recitals:

	A.	 	Subject to this Agreement, the Company has agreed to issue or procure the issuance of the
Subscribed Shares (as defined hereinafter) or effect cash payment to the Subscriber in
consideration of the Subscriber’s undertaking of the non-competition obligations to the
Company as set out herein;
	 
	B.	 	The obligations of the Parties referred to in Recital A are subject to satisfaction or waiver
of the conditions precedent hereunder.

Therefore, in consideration of the mutual covenants and undertakings contained herein, and subject
to and on the terms and conditions herein set forth, the Parties hereto agree as follows:

ARTICLE 1 DEFINITIONS

Section 1.1 Specific Definitions

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Subscription Agreement

As used in this Agreement, the following terms shall have the meanings set forth or referenced
below:

“Business Day” means any day other than a Saturday, a Sunday or a day in which banks in either the
PRC or the Hong Kong Special Administrative Region (“Hong Kong”) are closed for business.

“Completion” means the completion of the issue and allotment of the Tranche A Completion and
Tranche B Completion respectively.

“Confidential Information” means all confidential, non-public or proprietary information belonging
to a Party regardless of how the information is stored or delivered, exchanged between the Parties
before, on or after the date of this Agreement relating to the business, technology or other
affairs of the Party who provides such information, but excludes information which:

	 	(i)	 	is in or becomes part of the public domain other than through a breach of this
Agreement or an obligation of confidence owed to the Party to whom the information
belongs;
	 
	 	(ii)	 	the recipient of the information can prove was already known to it at the time of
disclosure by the Party to whom the information belongs (unless such knowledge arose
from disclosure of information in breach of an obligation of confidentiality); or
	 
	 	(iii)	 	the recipient acquires from a source other than the Party to whom the
information belongs, where such source is entitled to disclose the same to the
recipient.

“Encumbrance” means any mortgage, pledge, option, right of first refusal or any other kind of
security interest or claim against a proprietary right.

“Equity Transfer Agreement” means the equity transfer agreement in relation to 100% of equity
interests of Beijing Meiyixinfeng Media Technology Co., Ltd.  (  )
(“Meiyixinfeng”) to be entered into by and among PRC REDGATE  (  ), Meiyixinfeng and the
Subscriber on the same date as this Agreement.

“IPO” means an initial public offering of the shares of the Company on any stock exchange (or if
any subsidiary of the Company shall have an initial public offering of its shares prior to the
Company, then this definition shall apply to the offering by such subsidiary instead). Such company
as is the subject of the IPO shall be referred to as “Listco” herein.

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Subscription Agreement

“Listco” shall have the meaning set out in the definition of “IPO”.

“PRC” means the People’s Republic of China excluding, for the purpose of this Agreement, Hong Kong
Special Administrative Region and Macau Special Administrative Region and Taiwan.

“RMB” means Renminbi, the lawful currency of the PRC.

“Shares” means the issued share capital of the Company.

“Subscribed Shares” means the common shares of the Listco to be issued or procured to be issued by
the Company to the Subscriber, being the Tranche A Shares and/or the Tranche B Shares.

“Tranche A Completion” means the completion of the issue and allotment of the Tranche A Shares (if
any) in accordance with this Agreement.

“Tranche B Completion” means the completion of the issue and allotment of the Tranche B Shares (if
any) in accordance with this Agreement.

“Cash Payment” means any cash payment to be made by the Company to the Subscribers pursuant to
Article 2 of this Agreement, being the Tranche A Cash Payment Payment and/or the Tranche B
Cash Payment.

“Tranche A Completion Date” means 15 days after the fulfillment of the last condition precedent
under Section 2.4 or any other date agreed by the Company and the Subscriber in writing.

“Tranche B Completion Date” means 15 days after the fulfillment of the last condition precedent
under Section 2.5 or any other date agreed by the Company and the Subscriber in writing.

“Tranche A Shares” means the Shares (if any) to be subscribed by the Subscriber pursuant to
Section 2.2(a)(i) of this Agreement.

“Tranche B Shares” means the Shares (if any) to be subscribed by the Subscriber pursuant to
Section 2.2(b)(i) of this Agreement.

“Tranche A Cash Payment” means the cash payment to be made to the Subscriber (if any) pursuant
to Seciton 2.2(a)(ii) of this Agreement.

“Tranche B Cash Payment” means the cash payment to be made to the Subscriber (if any) pursuant
to Section 2.2(b)(ii) of this Agreement.

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Subscription Agreement

“USD” means US dollars, the lawful currency of the United States of America.

“US GAAP” means the general accepted accounting principles established by the Financial Accounting
Standards Board of the United States of America as amended from time to time.

Section 1.2 Other Terms Other terms may be defined elsewhere in the text of this Agreement
and, unless otherwise indicated, shall have such meaning indicated throughout this Agreement.

Section 1.3 General interpretation

Unless the contrary intention appears or otherwise defined, in this Agreement:

	(a)	 	(Articles, Sections, clauses, annexures and schedules) an Article, Section, clause, annexure
or schedule means a reference to a clause in or annexure or schedule to this Agreement;
	 
	(b)	 	(variations or replacement) a document (including this Agreement) includes any variation or
replacement of it;
	 
	(c)	 	(reference to statutes) a statute, ordinance, code or other law includes regulations and
other instruments under it and consolidations, amendments, re-enactments or replacements of
any of them;
	 
	(d)	 	(law) means common law, principles of equity, and statutes;
	 
	(e)	 	(singular includes plural) the singular includes the plural and vice versa;
	 
	(f)	 	(person) the word “person” includes an individual, a firm, a corporation, a partnership, a
joint venture, an unincorporated body or association or any government agency;
	 
	(g)	 	(executors, administrators, successors) a particular person includes a reference to the
person’s executors, administrators, successors, substitutes (including persons taking by
novation) and assigns;
	 
	(h)	 	(two or more persons) an agreement, representation or warranty in favor of two or more
persons is for the benefit of them jointly and each of them individually;
	 
	(i)	 	(jointly and severally) an agreement, representation or warranty by two or more persons binds
them jointly and each of them individually;
	 
	(j)	 	(calculation of time) if a period of time dates from a given day or the day of an act or
event, it is to be calculated exclusive of that day;

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Subscription Agreement

	(k)	 	(reference to a day) a day is to be interpreted as the period of time commencing at midnight
and ending 24 hours later on any Business Day;
	 
	(l)	 	(reference to a group of persons) a group of persons or things is a reference to any two or
more of them jointly and to each of them individually;
	 
	(m)	 	(meaning not limited) the words “include”, “including”, “for example” or “such as” are not
used as, nor is it to be interpreted as, a word of limitation and when introducing an example,
do not limit the meaning of the words to which the example relates to that example or examples
of a similar kind.

Section 1.4 Headings

Headings (including those in brackets at the beginning of paragraphs) are for convenience only and
do not affect the interpretation of this Agreement.

ARTICLE 2 Subscription of the Subscribed Shares

Section 2.1 Issuance of the Subscribed Shares or the Cash Payment

As the inducement for the Subscribers to enter into this Agreement and in consideration of the
undertakings of the Subscriber described in Section 2.3, the Company agrees to issue and allot or
procure the issuance and allotment of the Subscribed Shares or make the Cash Payment to the
Subscriber (as the case may be) on the terms and conditions of this Agreement.

Section 2.2 Determination of Consideration

	(i)	 	Tranche A

	 	(a)	 	if the IPO occurs on or before 31 December 2008 then the Subscriber shall be entitled to
the following number of Tranche A Shares:

	 	 	 	 	 	 	 
	 

	 	X =
	 	A x C x 40% x D	 	 
	 

	 	 	 

	 	 
	 	 	 	B	 	 

	 	 	 	 	 
	 

	 	Where:	 	 
	 
	 	 	 	 
	 

	 	X =
	 	the number of the Tranche A Shares
	 
	 
	 

	 	A =
	 	the audited net profit of Meiyixinfeng for the year ended
31st December 2007 calculated in accordance with US GAAP.
(“Meiyixinfeng 2007 Net Profit”),

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Subscription Agreement

	 	 	 	 	 
	 

	 	B =
	 	the opening price per share of Listco at the IPO
	 
	 
	 

	 	C =
	 	the average of the daily forward price earnings ratio (P/E) of
Listco as shown on the Nasdaq website for the ten trading days immediately
following the IPO (or if Listco is not listed on NASDAQ, then the same shall be
calculated in accordance with such other index as is reasonably determined by
the Board of the Company).
	 
	 
	 

	 	D =
	 	80%

	 	(b)	 	if the IPO does not occur on or before 31 December 2008 then

1. if the Meiyixinfeng 2007 Net Profit is more than zero then the Subscriber shall
receive the Tranche A Cash Payment as follows:-

     7 x A x 40%

     Where:

     A = the Meiyixinfeng 2007 Net Profit

2. if the Meiyixinfeng 2007 Net Profit is zero or less than zero then the Subscriber shall
receive 8000 USD as the Tranche A Cash Payment:

	(ii)	 	Tranche B

	 	(a)	 	if the IPO occurs on or before 31 December 2008 then the Subscriber shall be entitled
to the following number of Tranche B Shares:

:

	 	 	 	 	 	 	 
	 

	 	X =
	 	A x C x 60% x D	 	 
	 

	 	 	 

	 	 
	 	 	 	B	 	 

	 	 	 	 	 
	 

	 	Where:	 	 
	 
	 	 	 	 
	 

	 	X =
	 	the number of the Tranche B Shares
	 
	 
	 

	 	A =
	 	the net profit of Meiyixinfeng for the year end 31st
December 2008 calculated in accordance with US GAAP (“Meiyixinfeng 2008 Net
Profit”),
	 
	 
	 

	 	B =
	 	the average of the closing price per share of Listco for the
ten trading days after the adoption of the Meiyixinfeng audited accounts for the
financial year ended 31st December 2008 .
	 
	 
	 

	 	C =
	 	the average of the daily forward price earnings ratio (P/E) of
Listco for the ten trading days after the adoption of the Meiyixinfeng audited
accounts for the financial year ended 31st December 2008 as shown on
the Nasdaq

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Subscription Agreement

	 	 	 	 	 
	 

	 	 	 	website (or if Listco is not listed on NASDAQ, then the same shall be calculated
in accordance with such other index as is reasonably determined by the Board).
	 
	 
	 

	 	D =
	 	80%

	 	(b)	 	if the IPO does not occur on or before 31 December 2008 then

1. if the Meiyixinfeng 2008 Net Profit is more than zero then the Subscriber shall
receive the Tranche B Cash Payment calculated as follows:

     = 7 x A x 60%

     Where:

     A = the Meiyixinfeng 2008 Net Profit

2. if the Meiyixinfeng 2008 Net Profit is zero or less than zero then the Subscriber shall
receive 12000 USD as the Tranche B Cash Payment:

Section 2.3 Consideration for the Subscribed Shares

In consideration for the Company’s issuance and allotment or procurance of issuance & allotment of
the Subscribed Shares or making the Cash Payment the Subscriber undertakes to the Company not to
compete with the Company in any way (“Non-Competition Undertaking”) after the effectiveness of the
Equity Transfer Agreement. The Non-Competition Undertaking includes, without limitation,
competition effected by setting up joint venture or partnership, by recruiting employees of the
Company and its subsidiaries, by contract arrangement, or by provision of funds, for a period
starting from the date of this Agreement and ending on December 31, 2010. The corresponding
non-competition agreement shall be executed in a mutually satisfactory form for the Parties.

Section 2.4 Conditions to the Tranche A Completion

The Company’s obligation to issue or procure the issue of the Tranche A Shares or make the Tranche
A Cash Payment at the Tranche A Completion is also subject to the fulfilment of the following
conditions:

	(a)	 	(Successful IPO ) Listco has successfully carried out an IPO on or before 31st
December 2007 (and subject to the satisfaction of other conditions, the Tranche A Shares will
be issued within 60 days from the effective date of IPO).

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Subscription Agreement

	(b)	 	(Audit on Meiyixinfeng for the Year 2007) the financial statements of Meiyixinfeng
corresponding to the year 2007 have been audited, in accordance with the US GAAP, by the
accounting firm designated by the Company. The audit shall occur and be completed within the
first 6 calendar months of 2008.
	 
	(c)	 	(Shareholders’ approval) the shareholders of the Company (in respect of both common Shares
and preferred shares) have approved or consented to the issue of the Tranche A Shares or
making the Tranche A Cash Payment (as the case may be).
	 
	(d)	 	(Board approval) the board of directors of the Company has duly approved the issue of the
Tranche A Shares or the making of the Tranche A Cash Payment .
	 
	(e)	 	(Governmental approvals) if legally required, the Subscriber shall have used his reasonable
endeavors to obtain all necessary PRC governmental approvals for the subscription of the
Tranche A Shares and produced the approval documents to the Company in case the Company should
issue the Tranche A Shares.
	 
	(f)	 	(Completion of Equity Transfer) the equity transfer under the Equity Transfer Agreement has
been completed, as evidenced by PRC REDGATE  (  ) being registered as the sole
shareholder of Meiyixinfeng and representatives of PRC REDGATE  (  ) being appointed to
be all of the directors of Meiyixinfeng.
	 
	(g)	 	(License for Production and Operation) Meiyixinfeng shall have obtained the License for
Production and Operation of Broadcasting and Television
Programs  (  ) and shall procure its legal representative to obtain
the Competent Certificate for Producing Broadcasting and Television Programs
(  ).
	 
	(h)	 	(Representations and Warranties) the representations and warranties of the Subscriber under
Section 6.1 of this Agreement and the representations and warranties of the Subscriber
under Article 3 and Schedule 3 of the Equity Transfer Agreement shall be true and
correct as of the Tranche A Completion Date in all material respects, and the Subscriber shall
have performed and complied in all material respects with all covenants required by this
Agreement to be performed or complied with by them prior to the Tranche A Completion Date.

Section 2.5 Conditions to the Tranche B Completion

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Subscription Agreement

The Company’s obligation to issue or procure the issue of the Tranche B Shares or make the Tranche
B Cash Payment (as the case may be) at the Tranche B Completion is also subject to the fulfilment
of the following conditions (the Tranche B Completion will be effected within two weeks after the
completion of the Audit on Meiyixinfeng for the Year 2008 if all the following conditions having
been satisfied):

(a) (Successful IPO if applicable) Listco has successfully carried out an IPO on or before
31st December 2008 .

(b) (Audit on Meiyixinfeng for the Year 2008) the financial statements of Meiyixinfeng
corresponding to the year 2008 have been audited, in accordance with the US GAAP, by the
accounting firm designated by the Company. The audit shall occur and be completed within the
first 6 calendar months of 2009.

(c) (Shareholders’ approval) the shareholders of the Company (in respect of both Shares and
preferred shares) have approved or consented to the issue of the Tranche B Shares or make the
Tranche B Cash Payment.

(d) (Board approval) the board of directors of the Company has duly approved the issue of the
Tranche B Shares or make the Tranche B Cash Payment.

(e) (Governmental approvals) if legally required, the Subscriber shall have used his reasonable
endeavors to obtain all necessary PRC governmental approvals for the subscription of the
Tranche B Shares and produced the approval documents to the Company in case the Company should
issue Tranche B Shares.

(f) (Representations and Warranties) the representations and warranties of the Subscriber under
Section 6.1 of this Agreement and the representations and warranties of the Subscriber
under Article 3 and Schedule 3 of the Equity Transfer Agreement shall be true and
correct as of the Tranche B Completion Date in all material respects, and the Subscriber shall
have performed and complied in all material respects with all covenants required by this
Agreement to be performed or complied with by them prior to the Tranche B Completion Date.

Section 2.6 Reasonable Endeavors

Each Party must use its reasonable endeavours to obtain the fulfilment of the conditions precedent
as described under this Article 2, including procuring performance by a third party. The
Parties must keep each other informed of any circumstances which may result in any condition
precedent under this Article 2 not being satisfied in accordance with its terms hereof.

ARTICLE 3 Completion

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Subscription Agreement

Section3.1 Time and Place of Completion

Tranche A Completion will take place at 11am on the Tranche A Completion Date at No.5 room,F8,CITIC
Building or any other time and place agreed by the Company and the Subscriber.

Tranche B Completion will take place at 11am on the Tranche B Completion Date at No.5 room,F8,CITIC
Building or any other time and place agreed by the Company and the Subscriber.

Section3.2 Subscriber’s Obligations at Completion

Unless otherwise waived in writing by the Company, at Tranche A Completion Date, the Subscriber
agrees to deliver to the Company the evidence that PRC REDGATE  (  ) has been registered as
the sole shareholder of Meiyixinfeng, as well as other evidence of satisfaction of the conditions
to be performed by the Subscriber before Tranche A Completion.

Unless otherwise waived in writing by the Company, at Tranche B Completion Date, the Subscriber
agrees to deliver to the Company all evidence required by the Company showing the satisfaction of
the conditions to be performed by the Subscriber before Tranche B Completion have been satisfied.

Section3.3 Company’s Obligations at Completion

Unless otherwise waived in writing by the Subscriber, at Tranche A Completion and Tranche B
Completion, the Company agrees (as the case may be) to: make the Cash Payment or fax an instruction
to the Company’s registered agent to issue the Tranche A Shares and Tranche B Shares to the
Subscriber together with the Company’s board resolutions approving the respective issue. In cases
of share issues, the Company shall deliver the share certificate for the Tranche A Shares and
Tranche B Shares to the Subscriber within ten Business Days after the Tranche A Completion and
Tranche B Completion, respectively.

Section3.4 Simultaneous Actions at the Completion

In respect of the Completion:

(a) The obligations of the Parties under this Agreement are interdependent; and

(b) All actions required to be performed for the Completion will be deemed to have occurred
simultaneously at the Tranche A Completion and Tranche B Completion respectively.

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Subscription Agreement

ARTICLE 4 Special Covenants

Section 4.1 Extension of financial facilities by the Company

The Company or its subsidiary will extend financial facilities to Meiyixinfeng to develop its
business at the Company’s consideration and discretion.

Section 4.2 Covenants before Tranche B Completion

Except as required by this Agreement or Equity Transfer Agreement, no resolution of the directors
of Meiyixinfeng shall be passed, nor shall any contract or commitment be entered into, in each
case, prior to the Tranche B Completion without the prior written consent of the Company or PRC
REDGATE (  ), except that Meiyixinfeng may carry on its business in due course and may pass
board resolutions and enter into contracts for so long as they are effected in the ordinary course
of business and the company is informed of the same. As management person of Meiyixinfeng, the
Subscriber shall manage the operation of Meiyixinfeng in good faith.

The Subscriber shall indemnify the Company or its affiliated companies against all losses incurred
by the act or default by Meiyixinfeng or the Subscriber if any before the Tranche B Completion.

ARTICLE 5 Company’s Warranties

Section 5.1 Accuracy of Statements

The Company represents and warrants to the Subscriber that each of the following statements is
true, accurate, and not misleading in any material respect with respect to the subject covered
therein as of the date of this Agreement and will be true, accurate, and not misleading in any
material respect at each of the Tranche A Completion Date and the Tranche B Completion Date:

(a) (Organization, Good Standing and Qualification) The Company is duly organized, validly
existing and in good standing under, and by virtue of, the laws of the place of its
incorporation or establishment and has all required power and authority to own its properties
and assets and to carry on its business as now conducted and as presently proposed to be
conducted;

(b) (Power) It has the power to enter into and perform this Agreement and has obtained all
necessary consents and authorizations to enable it to do so;

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Subscription Agreement

(c) (Binding Obligation) This Agreement constitutes valid and binding obligations upon the
Company and is enforceable in accordance with its terms upon the Company, subject, as to
enforcement of remedies, to applicable bankruptcy, insolvency, moratorium, reorganization and
similar laws affecting creditors’ rights generally and to general equitable principles;

(d) (No Breach) This Agreement and Completions do not conflict with or result in a breach of any
obligation (including any statutory, contractual or fiduciary obligation) or constitute or
result in any default under any provision of its constitution or any material provision of any
agreement, deed, writ, order, injunction, judgment, law, rule or regulation to which it is a
party or is subject or by which it is bound;

(e) (No Litigation; No Material Change) No action shall have been threatened or instituted
against the Company seeking to enjoin, or challenge the validity of, or assert any liability
against the Company. There shall be no material adverse change to the business operation of
the Company;

(f) (No Creditors Arrangement) No voluntary arrangement has been proposed or reached with any
creditors of the Company;

(g) (Solvency) The Company is able to pay its debts as and when they fall due.

Section 5.2 Separate Warranties

Each warranty is to be treated as a separate representation and warranty. The interpretation of
any statement made may not be restricted by reference to or inference from any other statement.

ARTICLE 6 Subscriber’s Warranties

Section 6.1 Accuracy of Statements

The Subscriber represents and warrants to the Company that each of the following statements is true
and accurate and not misleading in any material respect on the date of this agreement and will be
true and accurate and not misleading in any material respect as at the Tranche A Completion Date
and Tranche B Completion Date as if made on each of those dates:

(a) (Power) The Subscriber has the power to enter into and perform this Agreement and has
obtained all necessary consents and authorizations to enable it to do so;

(b) (Binding Obligation) This Agreement constitute valid and binding obligations upon the
Subscriber and is enforceable in accordance with its terms upon the Subscriber;

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(c) (Compliance with Laws) It is not required to obtain any consents or approvals from, or file a
record with, any third party or government authority in connection with subscription of the
Subscribed Shares.

Section 6.2 Separate Warranties

Each warranty is to be treated as a separate representation and warranty. The interpretation of
any statement made may not be restricted by reference to or inference from any other statement.

Section 6.3 Agreement

The Subscriber agrees to be bound by all the terms and provisions of the memorandum and articles of
association of the Company and any shareholders agreements in force between the shareholders of the
Company from time to time.

ARTICLE 7 Confidentiality

Section 7.1 Disclosure of Confidential Information

All Confidential Information exchanged between the Parties under this Agreement or during the
negotiations preceding this Agreement is confidential to them and may not be disclosed by the
recipient of such information to any person except:

(a) employees, legal advisers, auditors and other consultants of the Parties or its affiliated
entities requiring the information for the purposes of this Agreement;

(b) with the consent of the Party who supplied the information which consent may be given or
withheld in its absolute discretion;

(c) if a Party is required to do so by law or a stock exchange or any regulatory authority to
whom it is subject; or

(d) if a Party is required to do so in connection with legal proceedings relating to this
Agreement.

ARTICLE 8 Announcements

Section 8.1 Public Announcements

Subject to Section 8.2, neither Party may make or send a public announcement, communication
or circular concerning the transactions referred to in this Agreement unless it

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has first obtained the other Party’s written consent, such consent not to be unreasonably withheld
or delayed.

Section 8.2 Public Announcements Required by Law

Section 8.1 does not apply to a public announcement, communication or circular required by
law or a regulation of a stock exchange, if the Party required to make or send it has, if
practicable, first consulted and taken into account the reasonable requirements of the other
Parties.

ARTICLE 9 Costs

Section 9.1 Costs and Expenses

The Parties agree to pay their own legal and other costs and expenses in connection with the
negotiation, preparation, execution and completion of this Agreement and of other related
documentation.

ARTICLE 10 Notices

Section 10.1 Form

Unless expressly stated otherwise in this Agreement, all notices, certificates, consents,
approvals, waivers and other communications in connection with this Agreement must be in writing,
signed by the sender (if an individual) or an authorised officer of the sender (if a company) and
marked for the attention of the person as follows: or, if the recipient has previously notified
otherwise, then marked for in the manner last notified by any Party to the other Parties.

Notices

	(a)	 	Any notice or other communication shall be deemed to have been served or delivered if sent to
the address, or facsimile number (as the case may be) set out in this paragraph (a) such
delivery or service being deemed at the following points in time namely:-

	 	(i)	 	if by facsimile at the time of despatch to the relevant number; or
	 
	 	(ii)	 	if by hand, when left at the relevant address; or
	 
	 	(iii)	 	if by post, two Business Days after being put in the post properly addressed to the
relevant address with pre-paid postage,

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	 	 	provided that any notice or communication that is not dispatched on a Business Day shall be
deemed to have been dispatched on the immediately subsequent Business Day.
	 
	(b)	 	For the purposes of notices under this Agreement the following addresses and facsimile
numbers shall be used for serving notices on named Parties (unless the Party to be served
shall have notified the Party serving the notice in advance and in writing of any change(s) to
the same):-

	 	 	SUBSCRIBER
	 
	 	 	Breeze Media Technology Co., Ltd.
	 
	 	 	Attention: Lu Xiaoyi
	 
	 	 	Address: Room #709, Baiyan Building, North 4th Ring Middle Road, Haidian, Beijing
	 
	 	 	Fax: 010-82338204
	 
	 	 	PRC REDGATE  (  ):
	 
	 	 	Address: B1807, Jianwai SOHO, 39 East 3rd-Ring Road, Chaoyang, Beijing, China
	 
	 	 	Fax: 010-58692960
	 
	 	 	COMPANY:
	 
	 	 	Address: Room 2703, 27th Floor, The Centrium, 60 Wyndham Street, Central, Hong Kong
	 
	 	 	Fax: (852) 8106 8655

ARTICLE 11 General Provisions

Section 11.1 Discretion in Exercising Rights

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A Party may exercise a right or remedy or give or refuse its consent in any way it considers
appropriate (including by imposing conditions), unless this Agreement expressly states otherwise.

Section 11.2 Partial Exercising of Rights

If a Party does not exercise a right or remedy fully at any given time, the Party may still
exercise the same at a later date.

Section 11.3 Approvals and Consents

A Party may give conditional or unconditional or withhold its approval or consent in its absolute
discretion unless this Agreement expressly provides otherwise. By giving its approval or consent a
Party does not make or give any warranty or representation as to any circumstance relating to the
subject matter of the consent or approval.

Section 11.4 Remedies Cumulative

The rights and remedies provided in this Agreement are in addition to other rights and remedies
given by law independently of this Agreement.

Section 11.5 Variation and Waiver

The Agreement and/or any rights herein, may not be waived or varied except in writing, signed by
the Parties hereto.

Section 11.6 No merger

The warranties, undertakings and indemnities in this Agreement shall survive the Tranche A
Completion and the Tranche B Completion.

Section 11.7 Indemnities

The indemnities in this Agreement are continuing obligations, independent from the other
obligations of the Parties under this Agreement and continue after this Agreement ends. It is not
necessary for a Party to incur expense or make payment before enforcing a right of indemnity under
this Agreement.

Section 11.8 Entire Agreement

This Agreement constitutes the entire agreement of the Parties about its subject matter and
supersedes all previous agreements, understandings and negotiations (whether written or oral)
between all or any of them in respect of the same. In the event of the Parties executing a Chinese
version of this Agreement then the English version shall prevail.

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Subscription Agreement

Section 11.9 Construction

No rule of construction applies to the disadvantage of a Party because that Party was responsible
for the preparation of, or seeks to rely on, this Agreement or any part of it.

ARTICLE 12 Governing Law and Dispute Resolution

Section 12.1 Governing law

This Agreement is governed by the laws of the Hong Kong Special Administrative Region of the PRC.

Section 12.2 Dispute Resolution

The Parties agree to negotiate in good faith to resolve any dispute or claim between them regarding
this Agreement. If the negotiations do not resolve the dispute or claim to the reasonable
satisfaction of Parties concerned, then each Party shall nominate one authorized senior officer as
its representative. The Parties or their representatives, as the case may be, shall, within thirty
(30) days of a written request by any Party to call such meeting, meet in person and attempt in
good faith to resolve the dispute or claim.

Each of the parties irrevocably agrees that in the event that any dispute or claim arising out or
relating to this Agreement or any breach thereof cannot be resolved as aforesaid then the sameshall
be settled by arbitration in accordance with the UNCITRAL Arbitration Rules in force at the time of
such dispute or claim, save as may be amended by the subsequent provisions of this Clause.

The place of arbitration shall be in Hong Kong at the Hong Kong International Arbitration Centre
and shall be conducted in the English language. There shall be a single arbitrator who shall be
agreed upon by the parties or, failing which, who shall be selected by the then President of The
Law Society of Hong Kong.

ARTICLE 13 Counterparts

This Agreement may consist of a number of copies, each signed by one or more Parties to this
Agreement. If so, the signed copies are treated as making up the one document and the date on
which the last counterpart is executed will be the date of this Agreement.

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Subscription Agreement

IN WITNESS WHEREOF, this Subscription Agreement has been signed on behalf of each of the Parties
hereto as of the date first written above.

	 	 	 	 	 
	Redgate Media Inc.

 	 	 
	By  	/s/ Peter Brack
 	 	 
	 	Name:  	Peter Brack 	 	 
	 	Title:  	Chairman and CEO 	 	 
	 
	Redgate Media AD Co., Ltd. (  )

 	 	 
	By  	/s/ Ying Zhu
 	 	 
	 	Name:  	Ying Zhu 	 	 
	 	Title:  	General Manger 	 	 
	 
	Lu Xiaoyi

 	 	 
	By  	/s/ Lu Xiaoyi
 	 	 
	 	 	 	 
	 	 	 	 
	 

19

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