Document:

EX-4.32

Exhibit 4.32

English Translation

Power of Attorney

     I, Xu Qing, a citizen of the People’s Republic of China (“China”), Chinese ID number:
11010119610220531X, am a shareholder of Beijing AirMedia UC Advertising Co., Ltd. (“AirMedia UC”)
and hold the 17.24% equity of AirMedia UC. I hereby irrevocably authorize Mr. Guo Man to
exercise the following rights within the valid term of this Power of Attorney:

     Authorize Mr. Guo Man (Chinese ID number: 110102196305041171) to represent myself to
exercise my shareholder rights (including voting power) as specified by PRC laws and the articles
of association of AirMedia UC at the shareholders’ meeting of AirMedia UC, including, but not
limited to, signing related legal instruments with respect to the selling or transfer of all or
part of my equity in AirMedia UC and as my authorized representative, nominating and appointing the
general manager of AirMedia UC at the shareholders’ meeting of AirMedia UC.

     The precondition for the said authorization and entrustment is that Mr. Guo Man is a
Chinese citizen and an employee of AirMedia Technology (Beijing) Co., Ltd. (“AM Technology”) and AM
Technology agrees to the said authorization and entrustment. Once Mr. Guo Man no longer
serves AM Technology or AM Technology informs me to terminate the said authorization and
entrustment, I will immediately withdraw the entrustment and authorization granted herein to him
and will designate/authorize the other person as nominated by AM Technology to exercise any and all
my shareholder rights (including voting power) at the shareholders’ meeting of AirMedia UC.

     This Power of Attorney shall become effective as of the signing date and will remain in force
throughout the duration of AirMedia UC, unless the Call Option Agreement jointly signed by me, AM
Technology and AirMedia UC on June 14, 2007 is prematurely terminated for whatsoever reason.

Xu Qing

/s/ Xu Qing

November 28, 2008

 

 

Exhibit 4.32

English Translation

Power of Attorney

     I, Guo Man, a citizen of the People’s Republic of China (“China”), Chinese ID number:
110102196305041171, am a shareholder of Beijing AirMedia UC Advertising Co., Ltd. (“AirMedia UC”)
and hold the 82.76% equity of AirMedia UC. I hereby irrevocably authorize Mr. Zhang Xiaoya
to exercise the following rights within the valid term of this Power of Attorney:

     Authorize Mr. Zhang Xiaoya (Chinese ID number: 130104196210091519) to represent myself
to exercise my shareholder rights (including voting power) as specified by PRC laws and the
articles of association of AirMedia UC at the shareholders’ meeting of AirMedia UC, including, but
not limited to, signing related legal instruments with respect to the selling or transfer of all or
part of my equity in AirMedia UC and as my authorized representative, nominating and appointing the
general manager of AirMedia UC at the shareholders’ meeting of AirMedia UC.

     The precondition for the said authorization and entrustment is that Mr. Zhang Xiaoya
is a Chinese citizen and an employee of AirMedia Technology (Beijing) Co., Ltd. (“AM Technology”)
and AM Technology agrees to the said authorization and entrustment. Once Mr. Zhang Xiaoya
no longer serves AM Technology or AM Technology informs me to terminate the said authorization and
entrustment, I will immediately withdraw the entrustment and authorization granted herein to him
and will designate/authorize the other person as nominated by AM Technology to exercise any and all
my shareholder rights (including voting power) at the shareholders’ meeting of AirMedia UC.

     This Power of Attorney shall become effective as of the signing date and will remain in force
throughout the duration of AirMedia UC, unless the Call Option Agreement jointly signed by me, AM
Technology and AirMedia UC on June 14, 2007 is prematurely terminated for whatsoever reason.

Guo Man

/s/ Guo Man

November 28, 2008EX-4.38

Exhibit 4.38

English Translation

Supplementary Agreement to the Equity Pledge Agreement

This Supplementary Agreement (“this Agreement”) is entered into among the following parties in
Beijing on November 28, 2008:

Party A: AirMedia Technology (Beijing) Co., Ltd.

Party B: Guo Man, Wang Zhenyu, Xu Qing

Party C: Beijing AirMedia UC Advertising Co., Ltd.

WHEREAS:

	(1)	 	Party A, Party B and Party C signed the Equity Agreement (the “Original Agreement”) on June
14, 2007, by which it was agreed that Party B shall pledge all their equity interests in Party
C to Party A;

	(2)	 	Guo Man, Wang Zhenyu and Xu Qing signed an Equity Transfer Agreement in November 2008, by
which it was agreed that Wang Zhenyu shall transfer all his equity interests in Party C to Guo
Man and Xu Qing. After the transfer, Guo Man and Xu Qing shall own 82.76% and 17.24% equity
interests, respectively, in Party C.

     Now therefore, after friendly negotiation among Parties A, B and C, the Original Agreement
shall be amended, and each of the party agrees on the following the terms and conditions:

	1.	 	Party A agrees that Wang Zhenyu transfers to Guo Man and Xu Qing all of his equity interests
that was pledged to Party A under the Original Agreement.

	2.	 	Guo Man and Xu Qing agree to pledge all of their respective 82.76% and 17.26% equity
interests in Party C to Party A after the above-said transfer is completed. The purpose of the
pledge shall be the same as stated in the Original Agreement, and Guo Man and Xu Qing agree to
perform their obligations set out in the Original Agreement.

	3.	 	Upon effectiveness of this Agreement, in case of any difference in terms between the Original
Agreement and this Agreement, this Agreement shall prevail; terms absent from this Agreement
shall be governed by the Original Agreement.

	4.	 	This Agreement is effective upon the signature and/or stamp of common seal by all parties to
this Agreement. This Agreement shall be signed in seven counterparts, two of which shall be
kept by each of Party A and Party C, and three shall be kept by Party B. All counterparts
shall have the same legal effect.

[No text below]

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Party A: AirMedia Technology (Beijing) Co., Ltd.

Common seal: AirMedia Technology (Beijing) Co., Ltd. (Seal)

Party B:

Signature: /s/ Guo Man

Signature: /s/ Wang Zhenyu

Signature: /s/ Xu Qing

Party C: Beijing AirMedia UC Advertising Co., Ltd.

Common seal: Beijing AirMedia UC Advertising Co., Ltd. (Seal)

2EX-4.40

Exhibit 4.40

English Translation

Supplementary Agreement to the Call Option Agreement

     This Supplementary Agreement (“this Agreement”) is entered into among the following parties in
Beijing on November 28, 2008:

Party A: AirMedia Technology (Beijing) Co., Ltd.

Party B: Guo Man, Wang Zhenyu, Xu Qing

Party C: Beijing AirMedia UC Advertising Co., Ltd.

WHEREAS:

	(1)	 	Parties A, B and C signed the Call Option Agreement on June 14, 2007 (“Original Agreement”);

	(2)	 	Guo Man, Wang Zhenyu and Xu Qing signed an Equity Transfer Agreement in November 2008, by
which it was agreed that Wang Zhenyu shall transfer all his equity interests in Party C to Guo
Man and Xu Qing. After the transfer, Guo Man and Xu Qing shall own 82.76% and 17.24% equity
interests, respectively, in Party C.

     Now therefore, after friendly negotiation among Parties A, B and C, the Original Agreement
shall be amended, and each of the party agrees on the following the terms and conditions:

	1.	 	Party A agrees that Wang Zhenyu transfers all his equity interests in Party C to Guo Man and
Xu Qing.

	2.	 	After the transfer, Guo Man agrees to grant Party A the call option to purchase the 82.76%
equity interests that he owns in Party C, pursuant to the terms and conditions under the
Original Agreement; Xu Qing agrees to grant Party A the call option to purchase the 17.24%
equity interests that he owns in Party C, pursuant to the terms and conditions under the
Original Agreement.

	3.	 	Upon effectiveness of this Agreement, in case of any difference in terms between the Original
Agreement and this Agreement, this Agreement shall prevail; terms absent from this Agreement
shall be governed by the Original Agreement.

	4.	 	This Agreement is effective upon the signature and/or stamp of common seal by all parties to
this Agreement. This Agreement shall be signed in seven counterparts, two of which shall be
kept by each of Party A and Party C, and three shall be kept by Party B. All counterparts
shall have the same legal effect.

[No text below]

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Party A: AirMedia Technology (Beijing) Co., Ltd.

Common seal: AirMedia Technology (Beijing) Co., Ltd. (Seal)

Party B:

Signature: /s/ Guo Man

Signature: /s/ Wang Zhenyu

Signature: /s/ Xu Qing

Party C: Beijing AirMedia UC Advertising Co., Ltd.

Common seal: Beijing AirMedia UC Advertising Co., Ltd. (Seal)

2EX-4.41

Exhibit 4.41

Translation

Supplementary Agreement to the Loan Agreement

     This Supplementary Agreement (“this Agreement”) is entered into by the parties below in
Beijing on October 31, 2008:

	 	 	 
	Party A:

	 	AirMedia Technology (Beijing) Co., Ltd.
	 

	 	Registered address: Room 3088, Building 1, No. 2 of Hengfu Zhongjie, Science Town,
	 

	 	Fengtai District, Beijing
	 
	 	 
	Party B:

	 	Guo Man
	 

	 	ID No.: 110102196305041171
	 
	 	 
	Party C:

	 	Xu Qing
	 

	 	ID No.: 11010119610220531X

WHEREAS,

	1.	 	Party A is a wholly foreign-owned enterprise incorporated under the laws of the People’s
Republic of China (“PRC”);

	2.	 	Party A entered into a Loan Agreement (the “Original Agreement”) in January 2007 wit Party B,
Party C and Wang Zhenyu, by which Party A offered a loan of RMB1,000,000 to Party B, Party C
and Wang Zhenyu for their investments in the equity of Beijing AirMedia UC Advertising Co.,
Ltd. (“AMUC”). After the aforesaid investment, Party B, Party C and Wang Zhenyu respectively
holds 51.13%, 10.65% and 38.22% of the equity of AMUC.

	3.	 	Party A agrees to offer Party B and Party C a second interest-free loan of RMB382,200 for
their purpose of acquiring the 38.22% equity interests of AMUC held by Wang Zhenyu.

NOW THEREFORE, through friendly negotiations, the parties hereby agree as follows:

	1.	 	Party A shall provide Party B an interest-free loan of RMB316,320 and offer Party C an
interest-free loan of RMB65, 880, apart from the loan offered by the Original Agreement. Party
B and Party C agree to accept the aforesaid loan.

	2.	 	Party B and Party C hereby confirm that the aforesaid loan has been duly received and has
been used to acquire the equity of AMUC held by Wang Zhenyu. After the acquisition, Party B
holds 82.76% of the equity of AMUC and Party C holds 17.24% of the equity of AMUC.

	3.	 	Party B and Party C shall perform the borrowers’ obligations in the Original Agreement with
respect to the loan offered by Party A in this Agreement.

	4.	 	The remaining terms in the Original Agreement shall remain unchanged. This Agreement is a
supplementary agreement to the Original Agreement, and shall have

 

 

	 	 	the same legal effect as the Original Agreement.
For any inconsistencies between this Agreement and the Original Agreement, this Agreement prevails. The Original Agreement
shall prevail for any matters not provided for by this Agreement.

	5.	 	This Agreement shall become effective from the date of signing or the imprinting of seals by
the parties. This Agreement is executed in four originals, of which two are to be kept by
Party A and one is to be kept by each of Party B and Party C. All originals have the same
legal effect.

[No text below]

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	Party A:

	 	AirMedia Technology (Beijing) Co., Ltd. (seal of AirMedia Technology (Beijing) Co., Ltd.)
	 
	 	 
	Party B:

	 	Guo Man
	 
	 	 
	 

	 	/s/ Guo Man
	 
	 	 
	Party C:

	 	Xu Qing
	 
	 	 
	 

	 	/s/ Xu Qing

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LOAN AGREEMENT

     THIS LOAN AGREEMENT (“this Agreement”) is entered into by the parties below in Beijing on
January 1, 2007:

	 	 	 
	Party A:

	 	AirMedia Technology (Beijing) Co., Ltd.
	 

	 	Registered address: Room 3088, Building 1, No. 2 OF Hengfu Zhongjie, Science
	 

	 	Town, Fengtai District, Beijing
	 
	 	 
	Party B:

	 	Xu Qing
	 

	 	ID No.: 11010119610220531X
	 
	 	 
	Party C:

	 	Guo Man
	 

	 	ID No.: 110102196305041171
	 
	 	 
	Party D:

	 	Wang Zhenyu
	 

	 	ID No.: 410103196311087018

WHEREAS,

	1.	 	Party A is a wholly foreign-owned enterprise incorporated under the laws of the People’s
Republic of China (“PRC”);

	2.	 	Party B, Party C and Party D are PRC citizens and Party B holds 10.65% of the equity of
Beijing AirMedia UC Advertising Co., Ltd. (“AMUC”), Party C holds 51.13% of the equity of AMUC
and Party D holds 38.22% of the equity of AMUC;(separately or together as “Target Equity”)

	3.	 	Party A granted to Party B, Party C and Party D (separately or together as the “Borrower”) on
October 20, 2006 a sum of RMB1,000,000 as interest-free loan for the Borrower to purchase the
equity of AMUC.

NOW THEREFORE, through friendly negotiations, the parties hereby agree as follows:

	1.	 	Party A lent to the Borrower on October 20, 2006 the interest-free loan for the sum of RMB1,
000,000, which includes the loan of RMB106, 500 to Party B, the loan of RMB 511,300 to Party C
and the loan of RMB 382,200 to Party D (each of the aforesaid loans, or together, “Loan”); the
Borrower agrees to accept the aforesaid Loan.

	2.	 	The Borrower hereby confirms that the aforesaid Loan was duly received on October 20, 2006
and it has been used as the consideration for acquiring the equity of AMUC.

	3.	 	The loan term under this Agreement starts from the date when the Borrower receives the Loan
until ten (10) years after signing of this Agreement and may be extended subject to the mutual
agreement between the parties. During the loan term or any extension thereof, Party A may
inform the Borrower in writing that all or part of the Loan under this Agreement is due and
payable immediately and request the Borrower to repay the Loan in the manner as specified
herein if:

	 	(1)	 	The Borrower resigns from or is dismissed by Party A or any of its affiliates;

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	 	(2)	 	The Borrower dies or loses its civil capacity or with limited capacity for
civil conduct;

	 	(3)	 	The Borrower commits a crime or is involved in a crime;

	 	(4)	 	Any other third party claims more than RMB100,000 against the Borrower; or

	 	(5)	 	To the extent permitted by PRC laws, Party A or its designated person may
invest in the advertising agency and distribution businesses that AMUC is engaged in.
Party A may give the Borrower a written notice about purchasing the Borrower’s equity
in AMUC according to the provisions of the “Call Option Agreement” as set forth in
Article 4 below to exercise its call option.

	4.	 	The parties hereby agree and acknowledge that, to the extent permitted by PRC laws, Party A
shall be entitled but not obliged to, at any time, purchase, or designate other person
(including natural person, legal person or any other entity), to purchase all or part of the
equity held by Party B and/or Party C and/or Party D in AMUC (the “Call Option”), provided,
however, that Party A shall give a written notice about equity purchase to Party B, Party C
and Party D. When Party A exercise the Call Option, the purchase price of the Target Equity
(“Equity Price”) shall be the lowest price permitted by the then applicable PRC laws, unless
the Target Equity shall be valued or the price of Target Equity is otherwise specified
restrictively by the then applicable PRC laws. The parties agree to execute the “Call Option
Agreement” with respect thereto.

	5.	 	The parties hereby agree and acknowledge that Party B and/or Party C and/or Party D shall
repay the Loan only in the manner as given below: when Loan is due, at Party A’s written
request, if permitted by PRC laws, the Borrower or any of its successors or assignees shall
transfer its equity in AMUC to Party A or its designee and use the proceeds from such equity
transfer to repay the Loan under this Agreement.

	6.	 	The parties hereby agree and acknowledge that, except as otherwise provided for herein, the
Loan under this Agreement shall be interest-free. However, when the Loan is due and the
Borrower needs to transfer its equity hereof to Party A or its designee, if the actual equity
transfer price is higher than the Borrower’s loan principal due to legal requirements or other
causes, the excess shall be deemed as the loan interest or fund utilization costs to the
extent being permitted by PRC laws, and be paid to Party A together with the loan principal.

	7.	 	The parties hereby agree and acknowledge that the Borrower’s obligations under this Agreement
are deemed to be fully performed only if all the following requirements are met:

	 	(1)	 	The Borrower has transferred all its equity in AMUC to Party A and/its
designee; and

	 	(2)	 	The Borrower has paid to Party A as loan repayment all proceeds from equity
transfer.

	8.	 	To secure the performance of the debts under this Agreement, The Borrower agrees to pledge
all its equity in AMUC to Party A (“Equity Pledge”). The parties acknowledge

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	 	 	and agree that, apart from the obligations under this Agreement, the principal obligation
guaranteed by the Equity Pledge shall include any and all the obligations of AMUC to Party
under the Technology Support and Service Agreement signed on January 1, 2007 and the
Technology Development Agreement signed on January 1, 2007. The parties agree to sign an
“Equity Pledge Agreement” to honor the above arrangement.

	9.	 	Party A hereby represents and warrants to the Borrower that, as of the execution date of this
Agreement:

	 	(1)	 	Party A is a wholly foreign-owned enterprise incorporated and validly existing
under PRC laws;

	 	(2)	 	Party A has the authority to execute and perform this Agreement. The execution
and performance by Party A of this Agreement comply with its business scope, articles
of association or other organizational documents and Party A has obtained all necessary
and appropriate approvals and authorizations with respect to the execution and
performance of this Agreement;

	 	(3)	 	The loan principal offered to the Borrower is legally own by Party A;

	 	(4)	 	The execution and performance of this Agreement by Party A do not violate any
laws, regulations, government approvals, authorizations, notices or other government
documents binding upon or influencing it, any agreement signed by it with any third
party or any undertaking made by it to any third party; and

	 	(5)	 	Once executed, this Agreement shall constitute a legal, valid and binding
obligation of Party A, enforceable against Party A in accordance with its provisions.

	10.	 	The Borrower hereby represents and warrants to Party A that, from the execution date of this
Agreement until this Agreement terminates:

	 	(1)	 	AMUC is a limited liability company incorporated and validly existing under PRC
laws and the Borrower legally owns the equity of AMUC;

	 	(2)	 	The Borrower has the authority to execute and perform this Agreement. The
execution and performance by the Borrower of this Agreement comply with the articles of
association or other organizational documents of AMUC and the Borrower has obtained all
necessary and appropriate approvals and authorizations with respect to the execution
and performance of this Agreement;

	 	(3)	 	The execution and performance of this Agreement by the Borrower do not violate
any laws, regulations, government approvals, authorizations, notices or other
government documents binding upon or influencing it, any agreement signed by it with
any third party or any undertaking made by it to any third party;

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	 	(4)	 	Once executed, this Agreement shall constitute a legal, valid and binding
obligation of the Borrower, enforceable against the Borrower in accordance with its
provisions;

	 	(5)	 	The registered capital of AMUC has been paid up by the Borrower and AMUC has
obtained capital verification report issued by a qualified accounting firm;

	 	(6)	 	Except the provisions stipulated in Equity Pledge Agreement and Call Option
Agreement as of January 1, 2007, the Borrower has not mortgaged, pledged or otherwise
encumbered its equity in AMUC, solicited an offer about the transfer of such equity to
any third party, made any commitment about the offer of any third party to purchase
such equity, or executed any agreement with any third party to transfer such equity;

	 	(7)	 	There are no actual or threatened disputes, litigations, arbitrations,
administrative proceedings or other legal proceedings in connection with the Borrower’s
equity in AMUC; and

	 	(8)	 	AMUC has completed all government approvals, authorizations, licenses,
registrations, filing and other procedures necessary to carry out the business
activities within its business scope and to possess its assets.

11. The Borrower covenants that it shall, during the term of this Agreement,

	 	(1)	 	Without Party A’s prior written consent, not sell, transfer, mortgage or
otherwise dispose of or allow any other security interest to be created on its equity
or other interests in AMUC, except the equity pledge and other rights set for the
benefit of Party A in the Equity Pledge Agreement as of January 1, 2007;

	 	(2)	 	Without Party A’s prior written consent, not cause the shareholders’ meeting of
AMUC to adopt a resolution on selling, transferring, mortgaging or otherwise disposing
of, or allow any other security interest to be created on, its legal or beneficial
interest in AMUC, except to Party A and its designee;

	 	(3)	 	Without Party A’s prior written consent, not vote for, support or sign at the
shareholders’ meeting of AMUC any resolution approving AMUC to be merged or
consolidated with, acquire or invest in any person;

	 	(4)	 	Promptly inform Party A of any litigation, arbitration or administrative
proceedings pending or threatened against the Borrower’s equity in AMUC;

	 	(5)	 	Execute all necessary or appropriate documents, take all necessary or
appropriate actions and bring all necessary or appropriate lawsuits or make all
necessary and appropriate defenses against all claims in order to maintain its equity
in AMUC;

	 	(6)	 	Not do any act and/or omission that may materially affect the assets, business
and liabilities of AMUC without Party A’s prior written consent;

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	 	(7)	 	At Party A’s request, appoint any person nominated by Party A as the director
of AMUC;

	 	(8)	 	When Party A exercises its Call Option, transfer all of the Borrower’s equity
in AMUC promptly and unconditionally to Party A and/or its designee to the extent
permitted by PRC laws;

	 	(9)	 	Not request AMUC to distribute dividends or profits to it;

	 	(10)	 	In case its equity in AMUC is transferred to Party A or its designee, the
Borrower will pay all equity transfer proceeds to Party A as the loan principal and
loan interests or fund utilization costs to the extent permitted by PRC laws; and

	 	(11)	 	Comply strictly with the provisions of this Agreement, fully perform its
obligations under this Agreement and not do any act or omission that affects or impairs
the validity and enforceability of this Agreement.

	12.	 	Within the term of this Agreement, the Borrower undertakes that it will, in the capacity of
the shareholder of the AMUC, cause AMUC:

	 	(1)	 	Not to supplement, amend or modify its articles of association in any way, or
to increase or decrease its registered capital, or to change its capital structure in
any way without Party A’s prior written consent;

	 	(2)	 	To maintain and operate its business and deal with matters prudently and
effectively, in coherence with good financial and business rules and practices;

	 	(3)	 	Not to sell, transfer, mortgage or otherwise dispose of, or cause any other
security interest to be created on, any of its assets, business or the beneficial or
legal interests of its income at any time after the signing of this Agreement without
Party A’s prior written consent;

	 	(4)	 	Not to create, succeed, guarantee or permit any liability, without Party A’s
prior written consent, except (i) the liability arising from the normal course of
business, but not arising from loans; and (ii) the liability reported to Party A and
approved by Party A in writing;

	 	(5)	 	To operate persistently all the business in the normal course of business to
maintain the value of its assets;

	 	(6)	 	Not to execute any material contracts (a contract will be deemed material if
its value exceeds RMB 100,000), without Party A’s prior written consent, other than
those executed during the normal course of business;

	 	(7)	 	To provide information concerning all of its operations and financial
performance at Party A’s request;

	 	(8)	 	Not to be merged or consolidated with, acquire or invest in, any other person
without Party A’s prior written consent;

	 	(9)	 	Not to amend the articles of association of the Borrower (if any) in any way;

8

 

	 	(10)	 	Not to distribute dividends to its shareholders in any way without Party A’s
prior written consent. However, AMUC shall promptly distribute all its distributable
profits to Party A’s shareholders upon Party A’s request;

	 	(11)	 	To inform promptly Party A of any pending or threatened suit, arbitration or
administrative proceedings concerning its assets, business or income;

	 	(12)	 	To execute all necessary or appropriate documents, to take all necessary or
appropriate actions and to bring all necessary or appropriate lawsuits or to make all
necessary and appropriate defenses against all claims in order to maintain the
ownership over all its assets;

	 	(13)	 	To comply strictly with the terms of Technology Support and Service Agreement,
Technology Development Agreement Equity Pledge Agreement and Call Option Agreement as
of January 1, 2007, and any other agreements executed by it with Party A from time to
time, to perform its obligations under aforesaid agreements, and not to do any act or
omission that affects the validity and enforceability of such agreements;

	13.	 	This Agreement shall be binding on and inure to the benefit of the parties and their
respective successors and assignees. Without prior written approval of Party A, the Borrower
shall not transfer, pledge or otherwise assign any of its rights, benefits or obligations
under this Agreement.

	14.	 	The Borrower hereby agrees that Party A may assign its rights and duties under this Agreement
to a third party without requiring the Borrower’s consent, but such transfer shall be notified
in writing to the Borrower.

	15.	 	The formation, validity, interpretation, performance, amendment and termination of and
resolution of disputes in connection with this Agreement shall be governed by PRC laws.

	16.	 	Arbitration.

	 	(1)	 	Any dispute, controversy or claim arising from the interpretation or
performance in connection with this Agreement (including any question regarding its
existence, validity or termination) shall be settled by the parties through friendly
consultations. In case no settlement can be reached within thirty (30) days after one
party makes a request for settlement, either party may submit such dispute to China
International Economic and Trade Arbitration Commission (“CIETAC”) for arbitration in
accordance with its rules. The arbitration award shall be final and binding upon the
parties.

	 	(2)	 	The seat of arbitration should be Beijing.

	 	(3)	 	The language of arbitration proceedings shall be Chinese.

	17.	 	This Agreement shall be formed on its signing date. The parties agree and acknowledge that
the terms and conditions of this Agreement shall be effective as of October 20, 2006, the date
on which the Borrower was granted the Loan, until the parties have performed their obligations
under this Agreement.

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	18.	 	The Borrower cannot terminate or revoke this Agreement unless (a) Party A commits a gross
negligence, fraud or other material illegal acts; or (b) Party A goes bankrupt.

	19.	 	This Agreement may not be amended or modified except with a mutual agreement reached by the
parties. In case of anything not covered herein, the parties may sign a written supplementary
agreement. Any amendment, modification, supplement or annex to this Agreement shall form an
integral part of this Agreement.

	20.	 	This Agreement constitutes the entire agreement between the parties with respect to the
subject matter hereof and supersedes all prior oral discussions or written agreements reached
by the parties with respect to the subject matter hereof.

	21.	 	This Agreement is severable. If any provision of this Agreement is held to be invalid or
unenforceable, such provision shall not affect the validity and enforceability of the
remainder of this Agreement.

	22.	 	Each party hereto should keep in strict confidence the information concerning the other
party’s business, operation, financial performance or other confidential data obtained under
this Agreement or during the performance of this Agreement.

	23.	 	Any obligation accrued before the expiration or premature termination of this Agreement shall
survive such expiration or premature termination. Articles 15, 16 and 22 shall survive the
termination of this Agreement.

	24.	 	This Agreement is executed in eight originals, with each party hereto holding two originals.
All originals have the same legal effect.

IN WITNESS WHEREOF, each party has caused this Agreement to be executed by itself or its legal
representative or authorized representative as of the day and year as first above written.

[No text below]

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[Signature Page]

Party A: AirMedia Technology (Beijing) Co., Ltd.

Legal Representative

Authorized Representative: /s/ Guo Man 

Common seal: AirMedia Technology (Beijing) Co., Ltd.

Party B: Xu Qing

Signature: /s/ Xu Qing

Party C: Guo Man

Signature: /s/ Guo Man 

Party D: Wang Zhenyu

Signature: /s/ Wang Zhenyu

11

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