Document:

English Translation of Advertising Agency Agreement on 2008

 Exhibit 10.8 
 ADVERTISING AGENCY AGREEMENT 
 ON 2008
CHINESE NEW YEAR GALA PROGRAM 
  

			
	Party A:	  	Mass Media & Universal International Advertising Co., Ltd.
		
	Party B:	  	Advertising Department, CCTV

 After consultations, Party A and Party B (each a “Party”, and collectively the “Parties”) have
reached the following agreement (the “Agreement”) in connection with advertising agency services for the 2008 Chinese New Year Gala program and advertising packages during the Chinese New Year holidays: 
  

	1.	Party B authorizes Party A to be the sole advertising agent for the 2008 Chinese New Year Gala program and advertising packages during the Chinese New Year holidays. Party A
warrants that advertising revenue from the above-mentioned resources will be no less than RMB 150 million (including advertising agency fee). 

  

	2.	Party A shall conduct sales activities under the instruction of Party B. Party A shall be responsible for signing advertising packages broadcasting contracts, collecting fees,
collecting advertising tapes and implementing other sales operations. Party B shall be responsible for reviewing and editing advertising tapes, broadcasting, and conducting sales-related coordination work. 

  

	3.	Party B shall pay Party A 15% of the advertising fees actually paid as an agency fee. If Party A achieves a sales revenue of over RMB 150 million, it shall obtain 15% of the
excess amount (after deducting the agency fee) as a bonus. If Party A achieves a sales revenue of less than RMB 150 million, it shall be paid an agency fee calculated in the same formula as that for RMB 150 million. 

  

	4.	Advertising Resources: 

  

	 	(1)	February 6, 2008 (New Year’s Eve), a 10-minute advertising time slot before the Chinese New Year Gala, and a 12-minute slot after the Gala, on CCTV-1 and CCTV-4.

  

	 	(2)	February 6, 2008 (New Year’s Eve), a 10-minute advertising time slot before each of the singing and dancing gala on CCTV-2 and the Chinese opera gala on CCTV-3, and a
12-minute slot after each gala. 

  

	 	(3)	February 7, 2008 (the first day of the lunar new year), a 12-minute advertising time slot amid the rebroadcast of the Chinese New Year Gala on CCTV-1. 

 

	 	(4)	February 7-21, 2008, advertising time slots on CCTV-1: 

 4 minutes, prime hour TV Festival clips; 

 3 minutes amid a prime hour TV drama series—Reputation Well Earned; 
 3 minutes after a prime hour TV drama series. 
  

	 	(5)	February 7-21, 2008, a 2-minute time slot after Selected Programs on CCTV-1, and two 2-minute time slots in the afternoon of New Year’s Eve, February 6, before the
Chinese New Year Gala. 

  

	 	(7)	Advertising time slots amid the Chinese New Year Gala or other related special programs or events, in various advertising modes. 

  

	5.	Party A shall be responsible for soliciting and collecting sponsored items to the Chinese New Year Gala as per Party B’s requirements. The sponsored items shall be collected in
accordance with relevant rules and regulations of CCTV. 

  

	6.	Party A shall be responsible for receiving people from sponsors of the Chinese New Year Gala and advertising clients when they arrive in Beijing. 

  

	7.	Party A shall be responsible for all consequences of infringement of the right of publicity and copyright of any third persons or violations of relevant laws and regulations in its
advertisement solicitation and sales activities. 

  

	8.	Party A shall handover to Party B all amounts payable within one (1) month of the end of the Chinese New Year Gala. 

  

	9.	Any matters not covered in this Agreement shall be resolved through negotiations by both Parties. 

  

	7.	This Agreement is executed in six (6) copies. Party A will hold one (1) copy. The other five (5) copies will be kept by Party B and relevant CCTV departments.

 Party A: Mass Media & Universal International Advertising Co., Ltd. 
 Representative (Signature and Seal): /s/(affixed with company seal) 
 Date: December 6, 2007 
 Party B: Advertising Department, China Central Television (CCTV) 
 Representative (Signature and Seal): /s/(affixed with company seal) 
 Date: December 6, 2007 
  

 2English Translation of Advertising Agency Agreement on Special Events

 Exhibit 10.9 
 ADVERTISING AGENCY AGREEMENT 
 FOR
SPECIAL EVENTS BROADCAST ON CCTV-1 AND CCTV-2 
  

			
	 Party A:
	  	Mass Media & Universal International Advertising Co., Ltd.
		
	 Party B:
	  	Advertising Department, CCTV

 After consultations, Party A and Party B (each a “Party”, and collectively the “Parties”) have
reached the following agreement (“Agreement”) in connection with the advertising agency services for special sporting events broadcast on CCTV-1 and CCTV-2: 
  

	1.	Party B shall be responsible for fixing the price and length of advertisements, reviewing advertisements, and editing and broadcasting advertisements booked by Party A. Party B
shall not engage any other companies or organizations for the promotion of its advertising time slots. 

  

	2.	Party A shall be responsible for the sales and marketing of all advertising time slots during domestic and international sporting events of varying scales that are broadcast live or
delayed on CCTV-1 and CCTV-2. Party A shall also be responsible for conducting promotions, booking advertisements, signing contracts with clients, collecting advertising fees, and submitting advertisements to Party B for broadcasting. In principle,
marketing and sales expenses relating to promotions, materials and meetings shall be borne by Party B. 

  

	3.	Party A shall submit advertising tapes to Party B for review. Party B shall have the right of final review. In case the advertising tape does not meet Party B’s broadcasting
standards and the advertisement can not be broadcast, Party A shall bear all losses thus caused. If the advertising content gives rise to legal disputes concerning copyright, right of publicity or any other issues, Party A shall be liable for all
such disputes. Party A further undertakes that such disputes shall not affect the performance of this Agreement. 

  

	4.	The pricing standard and payment method of advertising agency fees to Party A for each sporting event shall be handled on a case-by-case basis. 

  

	5.	The Parties shall both abide by this Agreement and exercise due care and diligence. The Parties shall empathize with each other if any Party fails to perform this Agreement due to
force majeure events. 

  

	6.	Any matters not covered in this Agreement shall be resolved through negotiations by both Parties. 

	7.	This Agreement shall become effective upon the signatures and seals of both Parties. The term of this Agreement shall commence from January 1, 2008 and end on December 31,
2008. 

 Party A: Mass Media & Universal International Advertising Co., Ltd. 
 Representative (Signature and Seal): /s/(affixed with company seal) 
 Date:
December 12, 2007 
 Party B: Advertising Department, China Central Television (CCTV) 
 Representative (Signature and Seal): /s/(affixed with company seal) 
 Date: December 12, 2007 
  

 2English Translation of Form of Media Resource Purchase Agreement

 Exhibit 10.10 
 Form of CCTV Media Resource Purchase Agreement 
 By and between 
  

					
	 Party A:
	 	Mass Media & Universal International Advertising Co., Ltd.
			
		 	 Registered address:
	  	Suite 1014B, Main Building of Tian’an Cyber Times Tower Chegongmiao Road, Futian District, Shenzhen
			
		 	 Legal representative:
	  	Zhang Kun
		
	 Party B:
	 	Advertising Department, CCTV
			
		 	 Address:
	  	11 Fuxing Road, Beijing, China
			
		 	 Representative:
	  	Xia Hongbo

 (each a “Party”, and collectively the “Parties”) 
 In accordance with the Contract Law of the People’s Republic of China, the Advertising Law of the People’s Republic of China (“PRC” or
“China”) and relevant PRC regulations, subject to Party A’s compliance with CCTV Regulations on Advertising Agency for Advertising Time Slots on CCTV, CCTV Regulations on Administration over Contracting of Advertising Time Slots on
CCTV Channels or Programs, CCTV Regulations on Administration over CCTV Advertisement Review and Broadcast, and other regulations and requirements of Party B, Party A and Party B, after having reached mutual understanding through negotiations,
concluded this CCTV Media Resource Purchase Agreement (this “Agreement”) on the principle of fairness, justice, honesty and good faith. 
 The
Parties hereby confirm that Mass Media & Universal International Advertising Co., Ltd. has secured the exclusive advertising rights with respect to the media resource in
                     on CCTV network. Party A and Party B reached an agreement as follows with respect to such contracted advertising rights:

 Article 1 Contracted Media Resource 
  

	1.1	Party B hereby contracts to Party A advertising rights with respect to the media resource in advertising packages consisting of various
        -minute time slots/day on CCTV network. The broadcast schedule of such advertising package is as set forth below, subject to changes in the course of the actual broadcast:

  

															
	 Channel
	  	Broadcast Schedule
	 	  	Mon	  	Tue	  	Wed	  	Thurs	  	Fri	  	Sat	  	Sun
	 CCTV-#
	  		  		  		  		  		  		  	
		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  	
				
	 CCTV-#
	  		  		  	
		  		  		  	

	1.2	The advertising rights contracted to Party A hereunder shall be limited to regular advertising for the subject programs and not cover any special advertising such as title
sponsoring and program sponsoring. Where Party A intends to book time slots on the contracted media resource for conducting special advertising, it shall submit separate applications and pay additional fees. 

  

	1.3	The packaged media resource obtained by Party A hereunder may not be repackaged for reselling. Advertisements to be broadcast for each of the time slots contracted to Party A shall
be the same hereunder. 

  

	1.4	Where Party A needs to broadcast any unscheduled short-term special program containing any advertising elements in the relevant channel for any particular reason, Party B shall
render necessary assistance to Party A. 

 Article 2 Contracting Term 
  

	2.1	The term of the advertising rights contracted to Party A hereunder shall commence from
                     and expire on
                    . Upon Party A’s payment of the deposit for the advertising rights contracting fees, Party B may issue a letter of
authorization with respect to the advertising rights granted hereunder. 

 Article 3 Rates of Advertising Fees

  

	3.1	Advertising Fees 

 With respect to the
advertisements broadcast on the packaged media resource contracted to Party A hereunder (subject to the condition that the advertisements to be broadcast during each of the time slots are the same (a same advertisement, even if broadcast for more
than once, shall be deemed as one piece of advertisement)), the advertising fees shall be paid on a monthly basis on the basis of the actual length of broadcast time and the rates set forth in the following table, and
            % of the advertising fees shall be paid by Party B to Party A as agency fees. 
  

															
	 5 seconds
	 	 10 seconds
	 	 15 seconds
	 	 20 seconds
	 	 25 seconds
	 	 30 seconds
	 	 45 seconds
	 	 60 seconds

	 RMB        
	 	RMB        	 	RMB        	 	RMB        	 	RMB        	 	RMB        	 	RMB        	 	RMB        

  

	3.2	The rate of the advertising fees for the year              shall be determined by Party B.

  

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 Article 4 Payment Terms 
  

	4.1	Within seven days as from the execution of this Agreement, Party A shall pay Party B RMB            as a deposit
for the contracting fees payable by Party A for its contracting of the packaged media resource. In case of any termination of this Agreement, the deposit may be set off against the advertising fees for the last month. 

  

	4.2	Within the actual contracting term, Party A shall pay the contracting fees for each quarter ten days prior to the beginning of such quarter. In case any contracting fees are overdue
for more than ten days, Party B shall have the right to revoke the advertising rights contracted to Party A hereunder and not return any deposit. 

  

	4.3	Any payment between the Parties shall be settled in RMB and the actual financial standards to be adopted for such settlement shall be based on CCTV financial management policies.
Party A shall have the obligation to accept any financial inquiry from Party B where Party B has any doubt about the financial matters. 

  

	4.4	Within the contracting term, Party A shall have the right to adjust its advertising sales strategy on the basis of the actual operational status of the advertising on the relevant
channels. In case of any adjustment to the broadcast schedule or broadcast frequency of any program on any CCTV channel, Party B shall have the right to adjust the rates of the advertising fees for such program accordingly. Party A shall settle the
payment due to Party B on the basis of the adjusted rates as from the date of adjustment. 

 Article 5 Advertisement Review
and Broadcast 
  

	5.1	Party A shall conduct the advertisement review and broadcast in accordance with CCTV Regulations on Administration over CCTV Advertisement Review and Broadcast, and CCTV Regulations
on Administration over Contracting of Advertising Time Slots on CCTV Channels or Programs. Videotapes of advertisements for broadcast and relevant applications shall be submitted to Party B for review seven days in advance, and videotapes of
advertisements shall be broadcast against the broadcast submission list signed by Party B. 

  

	5.2	Advertisements solicited by Party A to be broadcast on the contracted media resource shall comply with CCTV’s publicity objectives, viewing interests of the target audience of
the relevant channels and the quality of the relevant channels. Party B shall have the right to restrict broadcast of any advertisement that conflicts with any of the above criteria above. Advertisements falling into certain industries, such as
liquor, tobacco, medicine, medical institutions, medical instruments, pesticide, TV shopping and investment solicitation, shall be published in accordance with the Advertising Law of the PRC and applicable regulations of Party B.

  

	5.3	Where due to restrictions under relevant PRC policies or Party B’s advertising sales policies, Party A cannot obtain the right to solicit or broadcast liquor advertisements
under this Agreement, if Party A needs to solicit liquor advertisements, it shall obtain prior written consent from Party B and such advertisements shall be in compliance with Party B’s regulations. 

  

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 Article 6 Indemnification and Compensation (choose applicable clauses for specific transactions) 

  

	6.1	In view of the characteristics of the packaged media resource contracted to Party A, in case of any suspension of advertisement broadcast or the occurrence of any other abnormal
circumstances with respect to the advertisement as a result of any major short-term events or publicity activities arranged by the relevant channels, Party A shall be solely responsible for resolving any issues arising therefrom within the
contracted media resource and Party B will not make any compensation therefor. 

  

	6.2	In view of the characteristics of the packaged media resource contracted to Party A, Party B undertakes that it only guarantees the frequency of the advertisement broadcast within a
unit time (such as one day or one programming session) and does not guarantee the time point and location of the advertisement broadcast. As long as the broadcast of an advertisement meets the agreed frequency within a unit time (such as one day or
one programming session), in case of any delay in the broadcast, Party B shall not be required to make any compensation. 

  

	6.3	In case of any suspension of advertisement broadcast or the occurrence of any other abnormal circumstances with respect to the advertisement as a result of any major short-term
events or publicity activities arranged by CCTV, Party B shall broadcast such advertisement at any other time as compensation in accordance with the actual status of the suspended broadcast, or return the relevant advertising fees to Party B where
the compensatory broadcast is not feasible. 

  

	6.4	Party A shall, within six months as from the date of the broadcast of an advertisement, submit an application to Party B for an examination of the broadcast of such advertisement.
In case Party A fails to submit such application within the above six months, it shall be deemed to have waived its rights to compensation, and as a result it will not be compensated. 

  

	6.5	In case of an error on the part of Party B, the compensation shall only be paid against a statement of the actual situation issued by the relevant program department of Party B and
jointly signed by the director of such department and the director of the center administering such department. 

  

	6.6	Party A may not conduct any fraudulent business activities by representing itself as a contractor of CCTV programs, and shall be liable for any losses caused by such activities. In
case of any dispute arising from the content of any advertisement that is related to copyrights, reputation rights, right of publicity or any other legal rights, any and all damages caused by such dispute shall be fully borne by Party A.

 Article 8 Confidentiality 
 Party A shall in its conduct of normal advertising activities, strictly comply with the relevant regulations formulated by Party B. Both Parties shall keep confidential and not disclose to any third party detailed provisions of this
Agreement. 
 Article 9 Term 
  

	9.1	This Agreement shall remain effective from              to
            . 

  

	9.2	In case either Party intends to terminate this Agreement, it shall notify the other Party in writing of such intention 90 days in advance. 

  

 4 

 Article 10 Renewal 
 Upon the expiration of the contracting term hereunder, if (i) Party A has completed the tasks contracted to it hereunder, (ii) Party A has achieved the contracted target hereunder, (iii) Party A has not
committed any act in violation of the spirit of this Agreement, (iv) Party A has not resulted in any loss to Party B, and (v) the Parties are happy with their cooperation hereunder, renewal of this Agreement may be considered on a priority
basis on the equal terms offered to any third party; provided however that, Party A shall submit a formal application for renewal three months prior to the expiration of the contracting term. 
 Article 11 Default Liabilities 
  

	11.1	Each of Party A and Party B shall strictly comply with the provisions hereof. Party A’s breach of this Agreement shall entitle Party B to revoke the advertising rights granted
to Party A hereunder. Similarly, Party B’s breach of this Agreement shall entitle Party A to be indemnified by Party B against economic losses sustained by Party A arising from such breach. 

  

	11.2	Any dispute arising from the performance of this Agreement shall first be resolved between the Parties through negotiations. The Parties agree that any dispute that fails to be
resolved through negotiations may be referred to a court located in the place where Party B is domiciled. 

 Article 12
Termination 
  

	12.1	This Agreement may be terminated by mutual agreement between the Parties. In case either Party materially breaches this Agreement, the other Party may unilaterally terminate this
Agreement if it determines that there is no need to further perform this Agreement. 

  

	12.2	In case of any adjustment to the broadcast time of any program due to any unforeseen cause, and thus the advertising contemplated hereunder is rendered unable to be executed in
accordance with the price specified above, the Parties shall conduct friendly negotiations for a resolution and may execute a supplementary agreement to this Agreement as necessary. 

 Article 13 
 This Agreement shall be executed in six
counterparts, with Party A to hold one and the remaining five to be filed with relevant departments of Party B. Each counterpart shall take effect upon being signed and sealed by both Parties. 
 Article 14 
 Any other specific matters arising from the contracted operation of the media
resource shall be governed by CCTV Regulations on Administration over Contracting of Advertising Time Slots on CCTV Channels or Programs, which shall constitute an integral exhibit of this Agreement. Any matter not covered hereunder shall be
resolved by the Parties through consultations and set forth in a supplementary agreement to be subsequently executed by the Parties. 
  

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	Party A: Mass Media & Universal International
Advertising Co., Ltd.	 		 	Party B: Advertising Department, CCTV
					
	Signed or sealed by representative:	 	  
	 		 	Signed or sealed by representative:	 	  

					
	Dated:                     	 		 		 	Dated:                     	 	

  

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