Document:

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                                                                   EXHIBIT 10.9

Confidential                                                      Execution Copy

                                 LOAN AGREEMENT

                                 BY AND BETWEEN

                               JASON NANCHUN JIANG

                                       AND

                   FOCUS MEDIA TECHNOLOGY (SHANGHAI) CO., LTD.

                                 MARCH 28, 2005

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                                    CONTENTS

<TABLE>
<CAPTION>
<S>                                                                                    <C>
Article 1  Definition..............................................................    1

Article 2  Acknowledgement of the Creditor's Rights and Liabilities................    2

Article 3  Interest for the Borrowings.............................................    2

Article 4  Repayment of the Borrowings.............................................    2

Article 5  Taxes...................................................................    3

Article 6  Compensation upon Breaching.............................................    3

Article 7  Confidentiality.........................................................    3

Article 8  Notice..................................................................    4

Article 9  Default Liability.......................................................    4

Article 10 Miscellaneous...........................................................    4
</TABLE>

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                                 LOAN AGREEMENT

This LOAN AGREEMENT (this "AGREEMENT") is entered into as of March 28, 2005 by
and between the following two Parties:

(1)   JASON NANCHUN JIANG, a citizen of the People's Republic of China (with his
      ID No. 310109730305521) ("BORROWER");

(2)   FOCUS MEDIA TECHNOLOGY (SHANGHAI) CO., LTD., a wholly foreign invested
      company incorporated and existing under the laws of China, with its legal
      address at E, Room 1003, No.1027, Changning Road, Changning District,
      Shanghai ("FOCUS MEDIA TECHNOLOGY" or "LENDER").

(In this Agreement, the above Parties shall hereinafter be referred to as
"PARTY" individually, and "PARTIES" collectively.)

WHEREAS:

(1)   Jason Nanchun Jiang borrowed RMB35,500,000 from Focus Media Technology in
      December 2004, for two increases of its capital contribution, of
      RMB10,000,000 in December 2004 and RMB25,500,000 in January 2005
      respectively, in Shanghai Focus Media Advertisement Co., Ltd., a company
      of limited liabilities incorporated under the laws of China, with its
      legal address at F, Room 1003, No.1027, Changning Road, Changning
      District, Shanghai (hereinafter, "FOCUS MEDIA ADVERTISEMENT");

(2)   In order to specify the rights and obligations of the Parties under the
      abovementioned Borrowing arrangements, the Parties have hereby reached the
      following agreement:

                              ARTICLE 1 DEFINITION

1.1   The following terms in this Agreement shall be interpreted to have the
      following meanings:

      "BORROWINGS" shall mean the RMB borrowings the Lender provided to the
      Borrower respectively in December 2004 hereof;

      "AMOUNTS" shall mean, in respect of the Borrowings, the outstanding
      amounts;

      "BORROWING TERM" shall have the meaning ascribed thereto in Article 4.2.

      "EFFECTIVE DATE" shall mean the date on which the Parties duly execute
      this Agreement;

      "CHINA" or "PRC" shall mean the People's Republic of China, for the
      purposes of this Agreement, excluding the Hong Kong Special Administrative
      Region, the Macao Special Administrative Region and Taiwan region;

      "REPAYMENT NOTICE" shall have the meaning ascribed thereto in Article 4.1;

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1.2   In this Agreement, the relevant terms when so used shall be interpreted to
      have the following meanings:

      "ARTICLE" shall mean the Articles hereof, unless otherwise specified in
      the context hereof;

      "TAXES" shall be interpreted as to include any taxes, fees, duties or
      other charges of a similar nature (including but not limited to any
      penalties and interests imposed in relation to the unpaid or delayed
      payment of such Taxes);

      "BORROWER" and "LENDER" shall be interpreted as to include the permitted
      successors and assigns of the Parties for each of their own interest;

1.3   Except as otherwise stated in the context herein, all references herein to
      this Agreement or any other agreements or documents shall be interpreted
      as to refer to the amendments, changes, replacements or supplements
      already made or to be made from time to time, to or of this Agreement or,
      as the case may be, such other agreements or documents.

1.4   The titles in this Agreement are inserted for convenience in reading only.

1.5   Unless otherwise required in the context, words in plural shall include in
      meaning their singular forms, and vice versa.

       ARTICLE 2 ACKNOWLEDGEMENT OF THE CREDITOR'S RIGHTS AND LIABILITIES

2.1   Borrower hereby acknowledges that, as of the date hereof, it has received
      Borrowings from Lender for a total sum of Renminbi 35.5 million
      (RMB35,500,000) which has been paid in full by Borrower as the increased
      investments in an aggregate amount of Renminbi 35.5 million
      (RMB35,500,000) in Focus Media Advertisement as previously agreed with
      Lender. The Parties hereby acknowledge that the Borrowings granted by
      Focus Media Technology comprise monies actually paid by Focus Media
      Technology and monies paid by third parties designated by Focus Media
      Technology on behalf of Focus Media Technology.

2.2   The Parties acknowledge that Borrower shall perform its repayment
      obligations to Lender and other obligations hereunder in accordance with
      this Agreement.

                      ARTICLE 3 INTEREST FOR THE BORROWINGS

Lender acknowledges that it shall not charge any interest on the Borrowings.

                      ARTICLE 4 REPAYMENT OF THE BORROWINGS

4.1   Lender may, at any time during the Borrowing Term (as defined below) by
      delivery of a repayment notice (the "REPAYMENT NOTICE") to Borrower thirty
      (30) days in

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      advance, demand at its absolute discretion Borrower to repay part or all
      of the Amounts.

4.2   The Borrowing Term for the Borrowings hereunder shall commence from
      December 1, 2004 and shall continue and last for ten (10) years since the
      Effective Date hereof (the "BORROWING TERM"). During the Borrowing Term,
      Borrower may not, without the prior written consent of Lender, apply out
      of its own wish at any time to repay the Amounts in advance; Lender shall
      have the right to demand, in accordance with Article 4.1 hereof, Borrower
      to repay the Amounts in advance.

4.3   Upon expiry of the thirty (30) day period set out in the Repayment Notice,
      Borrower shall repay the Amounts in cash, or make such repayments in other
      forms as decided by the Board of Directors of Lender by means of duly
      adopted Board resolutions in accordance with its Articles of Association
      and the applicable laws and regulations.

                                 ARTICLE 5 TAXES

Any and all Taxes in relation to the Borrowings shall be borne by Lender.

                      ARTICLE 6 COMPENSATION UPON BREACHING

Borrower undertakes that, if it breaches any of its obligations hereunder to
result in any actions, charges, claims, costs, damages, demands, fees,
liabilities, losses and procedures incurred to or suffered by Lender, it shall
be liable to Lender for compensation thereof accordingly.

                            ARTICLE 7 CONFIDENTIALITY

7.1   No matter whether this Agreement is terminated or not, Borrower shall be
      obliged to keep in confidence (i) the execution, performance and contents
      of this Agreement; (ii) the commercial secret, proprietary information and
      customer information in relation to Lender which Borrower may become aware
      of or obtain as the result of its execution or performance hereof; and
      (iii) the commercial secret, proprietary information and customer
      information in relation to Focus Media Advertisement which Borrower may
      become aware of or obtain as the shareholder of Focus Media Advertisement
      (collectively, "CONFIDENTIAL INFORMATION"). Borrower may use such
      Confidential Information only for the purpose of performing their
      respective obligations under this Agreement. Borrower shall not disclose
      the above Confidential Information to any third parties without the
      written consent from Lender, or they shall bear the default liability and
      indemnify the losses.

7.2   Upon termination of this Agreement, Borrower shall, upon demand by Lender,
      return, destroy or otherwise dispose of all the documents, materials or
      software containing the Confidential Information and suspend using such
      Confidential Information.

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7.3   Notwithstanding any other provisions herein, the validity of this Article
      shall not be affected by the suspension or termination of this Agreement.

                                ARTICLE 8 NOTICE

8.1   Any notice, request, demand and other correspondences made as required by
      or in accordance with this Agreement shall be made in writing and
      delivered to the relevant Party.

8.2   The abovementioned notice or other correspondences shall be deemed to have
      been delivered when it is transmitted if transmitted by facsimile or
      telex; it shall be deemed to have been delivered when it is delivered if
      delivered in person; it shall be deemed to have been delivered five (5)
      days after posting the same if posted by mail.

                           ARTICLE 9 DEFAULT LIABILITY

9.1   Without limiting the generality of Article 6 hereof, any of the following
      events shall constitute the default on the part of Borrower:

      (1)   Borrower breaches any of the provisions under the Shareholder's
            Voting Rights Proxy Agreement, Equity Pledge Agreement or Call
            Option Agreement entered into by Borrower with Lender, Focus Media
            Advertisement, Jimmy Wei Yu and other relevant parties on March 28,
            2005; or

      (2)   Focus Media Advertisement breaches any of the provisions under the
            Technology License and Service Agreement, Shareholder's Voting
            Rights Proxy Agreement, Equity Pledge Agreement Call Option
            Agreement or Trademark License Agreement entered into by Focus Media
            Advertisement with Lender and other relevant parties on March 28,
            2005.

9.2   Notwithstanding any other provisions herein, the validity of this Article
      shall not be affected by the suspension or termination of this Agreement.

                            ARTICLE 10 MISCELLANEOUS

10.1  This Agreement shall be prepared in the Chinese language and executed in
      two(2) original copies, with each involved Party holding one (1) copy
      hereof.

10.2  The formation, validity, execution, amendment, interpretation and
      termination of this Agreement shall be subject to the PRC Laws.

10.3  Any disputes arising hereunder and in connection herewith shall be settled
      through consultations between the Parties, and if the Parties cannot reach
      an agreement regarding such disputes within thirty (30) days of their
      occurrence, such disputes shall be submitted to China International
      Economic and Trade Arbitration Commission Shanghai Branch for arbitration
      in Shanghai in accordance with the arbitration rules of such Commission,
      and the arbitration award shall be final and binding on both Parties.

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10.4  Any rights, powers and remedies empowered to any Party by any provisions
      herein shall not preclude any other rights, powers and remedies enjoyed by
      such Party in accordance with laws and other provisions under this
      Agreement, and the exercise of its rights, powers and remedies by a Party
      shall not preclude its exercise of its other rights, powers and remedies
      by such Party.

10.5  Any failure or delay by a Party in exercising any of its rights, powers
      and remedies hereunder or in accordance with laws (the "PARTY'S RIGHTS")
      shall not lead to a waiver of such rights, and the waiver of any single or
      partial exercise of the Party's Rights shall not preclude such Party from
      exercising such rights in any other way and exercising the remaining part
      of the Party's Rights.

10.6  The titles of the Articles contained herein shall be for reference only,
      and in no circumstances shall such titles be used in or affect the
      interpretation of the provisions hereof.

10.7  Each provision contained herein shall be severable and independent from
      each of other provisions, and if at any time any one or more articles
      herein become invalid, illegal or unenforceable, the validity, legality or
      enforceability of the remaining provisions herein shall not be affected as
      a result thereof.

10.8  Any amendments or supplements to this Agreement shall be made in writing
      and shall take effect only when properly signed by the Parties to this
      Agreement.

10.9  Borrower shall not assign any of its rights and/or obligations hereunder
      to any third parties without the prior written consent from Lender; Lender
      shall have the right, after notification to the other Parties, assign any
      of its rights and/or obligations hereunder to any third parties at its
      designation.

10.10 This Agreement shall be binding on the legal successors of the Parties.

                   [THE REMAINDER OF THIS PAGE IS LEFT BLANK]

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[EXECUTION PAGE]

IN WITNESS HEREOF, the Parties have caused this Loan Agreement to be executed as
of the date and in the place first hereinabove mentioned.

JASON NANCHUN JIANG

Signed by: /s/ Jason Nanchun Jiang
           -----------------------
Name: Jason Nanchun Jiang

FOCUS MEDIA TECHNOLOGY (SHANGHAI) CO., LTD.
(Corporate Seal)

Signed by: /s/ Jimmy Wei Yu
           ----------------------
Name: Jimmy Wei Yu
Position: Authorized Representative

                                     - 6 -<PAGE>

================================================================================

                                                                   EXHIBIT 10.10

                        MANAGER NON-COMPETITION AGREEMENT

      THIS MANAGER NON-COMPETITION AGREEMENT (this "Agreement"), dated as of
November 29, 2004, is entered into by and among Focus Media Holding Limited, an
international business company organized and existing under the laws of the
British Virgin Islands (the "COMPANY"), and Jiang Nanchun [CHINESE CHARACTERS],
of 28th Floor, Zhao Feng World Trade Building, No. 369 Jiangsu Road, Shanghai,
China.

                                    RECITALS

      WHEREAS the Company and its subsidiaries operate a leading advertising
company (the "BUSINESS");

      WHEREAS the Company and Mr. Jiang seek to induce certain investors
(collectively, the "INVESTORS") to invest in the Company pursuant to that
certain Share Purchase Agreement, dated as of November 9, 2004 (the "SHARE
PURCHASE AGREEMENT");

      WHEREAS the Investors seek certain assurances from Mr. Jiang as a
precondition to their investment in the Company, and Mr. Jiang is willing to
give such assurances;

      WHEREAS it is a condition precedent under the Share Purchase Agreement
that the Company and Mr. Jiang enter into this Agreement;

      WHEREAS the parties hereto wish to memorialize herein their understanding
with respect to such assurances.

                                   WITNESSETH

      In consideration of the premises set forth above and the mutual promises
and agreements contained herein, and for other good and valuable consideration,
the receipt of which is hereby acknowledged, the parties hereto hereby agree as
follows:

SECTION 1. INTERPRETATION

      1.1 Definitions. The following terms shall have the meanings ascribed to
them below:

            "AFFILIATE" means, with respect to any given Person, a Person that
      Controls, is Controlled by, or is under common Control with the given
      Person.

            "APPLICABLE LAW" means, with respect to any Person, any and all
      provisions of any constitution, treaty, statute, law, regulation,
      ordinance, code, rule, judgment, rule of common law, order, decree, award,
      injunction, governmental approval, concession, grant, franchise, license,
      agreement, directive, requirement, or other governmental restriction or
      any similar form of decision of, or determination by, or any
      interpretation or administration of any of the foregoing by, any
      Government Entity, whether in effect as of the date hereof or thereafter
      and in each case as amended, applicable to such Person or its subsidiaries
      or their respective assets.

            "BOARD" means the Board of Directors of the Company.

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            "BUSINESS" means the business of any of the Company and/or the Group
      Companies as conducted from time to time during the Term of Employment.

            "CONFIDENTIAL INFORMATION" means information about the Company, its
      subsidiaries and Affiliates, and their respective clients and customers
      that is not available to the general public and that was developed or
      learned by Mr. Jiang in the course of his employment by, or during his
      service on the board of directors of the Company or any Group Company,
      including, but not limited to, the following information: (i) trade
      secrets, Innovations, patents, copyright, proprietary information, mask
      works, ideas, processes, formulas, source and object codes, equipment,
      algorithms, data, programs, other works of authorship, know-how,
      improvements, discoveries, developments, designs and techniques, whether
      patentable or unpatentable, related to past, current, future and proposed
      products and services of the Company or any Group Company; (ii)
      information regarding plans for research, experimental work, designs,
      details and specifications, engineering, development, new products,
      procurement requirements, purchasing, creating, merchandising, marketing
      and selling business plans, budgets and unpublished financial statements,
      financial projections, licenses, prices and costs, suppliers, joint
      ventures, licensors, licensees, distributors, customers and other persons
      with whom the Company or any Group Company does business; and (iii)
      information regarding the skills and compensation of other employees of
      the Company or any Group Company.

            "CONTROL" means, when used with respect to any Person, the power to
      direct the management and policies of such Person, directly or indirectly,
      whether through the ownership of voting securities, by contract or
      otherwise, and the terms "Controlling" and "Controlled" have meanings
      correlative to the foregoing.

            "GROUP COMPANY" means any Person that is not a natural person and
      that is Controlled by the Company.

            "INNOVATION" shall mean, with respect to Mr. Jiang, any idea or
      information made or conceived or reduced to practice, in whole or in part,
      by Mr. Jiang, including, but not limited to, all processes, machines,
      methods, improvements (whether or not protectable under patent laws),
      works of authorship, information fixed in any tangible medium of
      expression (whether or not protectable under copyright laws), moral
      rights, mask works, trademarks, trade names, trade dress, trade secrets,
      know-how, ideas (whether or not protectable under trade secret laws), and
      all other subject matter protectable under patent, copyright, moral right,
      mask work, trademark, trade secret or other laws, and including without
      limitation all new or useful art, combinations, discoveries, processes,
      algorithms, programs, formulae, techniques, technical developments,
      software (both object code and source code), and designs.

            "PRC" means the People's Republic of China, solely for purposes of
      this Agreement, excluding the Hong Kong Special Administrative Region, the
      Macau Special Administrative Region and the islands of Taiwan.

            "TERM OF EMPLOYMENT" means such period as Mr. Jiang is employed by,
      or serves on the board of directors of, any of the Company or the Group
      Companies.

            "TERRITORY" means the PRC, the Hong Kong Special Administrative
      Region, the Macau Special Administrative Region, Singapore and the islands
      of Taiwan.

<PAGE>

      1.2 Interpretation. For all purposes of this Agreement, except as
otherwise expressly provided, (i) the terms defined in this Section 1 shall have
the meanings assigned to them in this Section 1 and include the plural as well
as the singular, (ii) all references in this Agreement to designated "Sections"
and other subdivisions are to the designated Sections and other subdivisions of
the body of this Agreement, (iii) pronouns of either gender or neuter shall
include, as appropriate, the other pronoun forms, and (iv) the words "herein,"
"hereof" and "hereunder" and other words of similar import refer to this
Agreement as a whole and not to any particular Section or other subdivision.

SECTION 2 CONFIDENTIAL INFORMATION AND NON-COMPETITION.

      2.1 No Other Employment. During the Term of Employment, Mr. Jiang shall
devote all his business time and best efforts to the furtherance of the
Company's business.

      2.2 Confidential Information. Mr. Jiang hereby agrees that he shall not
disclose to others or use, whether directly or indirectly, any Confidential
Information regarding the Company or any Group Company. Mr. Jiang acknowledges
that such Confidential Information is specialized, unique in nature and of great
value to the Company and the Group Companies, and that such information gives
the Company and the Group Companies a competitive advantage.

      2.3 Non-competition. Mr. Jiang and the Company agree that any service
rendered by Mr. Jiang is unique and irreplaceable. Accordingly, Mr. Jiang hereby
agrees that, during the Term of Employment and for a period of two (2) years
thereafter, within the Territory, he shall not:

            (a) engage or participate in, directly or indirectly (whether as an
officer, director, employee, partner, consultant, holder of an equity or debt
investment, lender or in any other manner or capacity), or lend his name (or any
part, variant or formative thereof) to any business which is, or as a result of
Mr. Jiang's engagement or participation would become, competitive with the
Business or is similar to the Business;

            (b) deal, directly or indirectly, in a competitive manner with any
customers doing business with the Company or any Group Company (except as
required by the duties and obligations of Mr. Jiang under any employment
agreement with the Company or any Group Company);

            (c) solicit any officer, director, employee or agent of the Company
or any Group Company to become an officer, director, employee or agent of anyone
other than the Company or any Group Company; or

            (d) engage in or participate in, directly or indirectly, any
business conducted under any name that shall be the same as or similar to the
name of the Company or any Group Company or to any trade name used by the
Company or any Group Company where such business is (i) directly or indirectly
competitive with the Business or (ii) engaged in any related activity where the
use of such name is reasonably likely to result in confusion.

If, at any time of enforcement of this Section 2.3 of this Agreement, a court or
an arbitrator holds that the restrictions stated herein are unreasonable under
circumstances then existing, the parties hereto agree that the maximum period,
scope or geographical area reasonable under such circumstances shall be
substituted for the stated period, scope or area and that the

<PAGE>

court or the arbitrator shall be allowed to revise the restrictions contained
herein to cover the maximum period, scope and area permitted by law.

      2.4 Compensation for Undertakings. Mr. Jiang hereby acknowledges that the
salary provided for in his employment agreement with the Company, dated as of
April 28, 2004 (the "Employment Agreement"), constitutes sufficient
consideration for the undertakings given in this Section 2. Notwithstanding the
previous sentence, Mr. Jiang hereby agrees that if a court of competent
jurisdiction or a duly seated arbitral tribunal determines that additional
consideration would be required for the effectiveness and enforceability of such
undertakings, then the Company shall have the option, in its sole discretion, of
paying such additional consideration within a reasonable time after such court
determination.

SECTION 3 CORPORATE OPPORTUNITY

            During the Term of Employment, and without limiting the effect of
Section 2, Mr. Jiang shall not accept or invest, whether directly or indirectly,
in any opportunity (a "CORPORATE OPPORTUNITY") which (i) is in the line of the
Business of the Company or any Group Company, (ii) arises or becomes known to
Mr. Jiang as a result of Mr. Jiang's employment by, or service on the board of,
the Company or any Group Company or (iii) involves any of the assets of the
Company or any Group Company, unless, in any such case, both (a) Mr. Jiang has
first presented the Corporate Opportunity to the Board, together with such
materials as may be reasonably necessary for the Board to render an informed
decision as to whether the Company or any Group Company should accept or invest
in such Corporate Opportunity, and (b) the Board does not decide to pursue such
Corporate Opportunity at its next meeting held no less than thirty (30) days
following delivery of all the materials described in clause (a). In any vote by
the Board as to whether the Company should accept or invest in a Corporate
Opportunity, Mr. Jiang (to the extent he continues to serve on the Board) shall
recuse himself from such vote.

SECTION 4 REMEDIES

            Mr. Jiang acknowledges that irreparable damage would result to the
Company if the provisions of Section 2 and Section 3 were not specifically
enforced, and agrees that the Company shall be entitled to enforce this
Agreement by injunction, specific performance or any other appropriate equitable
relief, without bond and without prejudice to any other rights and remedies that
the Company may have for a breach of this Agreement.

SECTION 5 MISCELLANEOUS

      5.1 Representations and Warranties.

            (a) Mr. Jiang represents and warrants to the Company that Mr. Jiang
has the authorization, power and right to deliver, execute and fully perform his
obligations under this Agreement in accordance with its terms. Mr. Jiang further
represents and warrants that this Agreement does not require any authorization,
consent, approval, exemption or other action by any other party and does not
conflict with or result in the breach of the terms, conditions or provisions of,
constitute a default under, or result in a violation of any agreement,
instrument, order, judgment or decree to which Mr. Jiang is subject. Mr. Jiang
will, to the fullest extent permitted by Applicable Law, indemnify and hold the
Company

<PAGE>

harmless for any breach of the representations set forth in this paragraph (a).

            (b) The Company represents and warrants to Mr. Jiang that it has the
authorization, power and right to deliver, execute and fully perform its
obligations under this Agreement in accordance with the terms hereof. The
Company further represents and warrants that this Agreement does not require any
authorization, consent, approval, exemption or other action by any other party
and does not conflict with or result in the breach of the terms, conditions or
provisions of, constitute a default under, or result in a violation of any
agreement, instrument, order, judgment or decree to which the Company is
subject. The Company will, to the fullest extent permitted by Applicable Law,
indemnify Mr. Jiang and hold Mr. Jiang harmless for any breach of its
representations set forth in this paragraph (b).

      5.2 Severability. If one or more provisions of this Agreement are held to
be unenforceable under Applicable Law, such provision shall be excluded from
this Agreement and the balance of the Agreement shall be interpreted as if such
provision were so excluded and shall be enforceable in accordance with its
terms.

      5.3 Governing Law. This Agreement shall be construed and interpreted, and
the rights of the parties determined, in accordance with the laws of the State
of New York, without giving effect to principles of conflicts of laws
thereunder.

      5.4 Notices. Any notice required or permitted by any provision of this
Agreement shall be given in writing and shall be delivered personally or by
courier, or by registered or certified mail, postage prepaid, and addressed: (i)
in case of Mr. Jiang and the Company, to their respective addresses as set forth
on the signature page hereof or at such other addresses as such parties may
designate by ten (10) day's advance written notice to the other parties hereto,
and (ii) in the case of any permitted transferee of a party to this Agreement or
its transferee, to such transferee at its address as designated in writing by
such transferee to the Company from time to time. Notices shall be deemed
effectively given upon personal delivery to the party to be notified. Notices
that are mailed shall be deemed received on the tenth (10th) day after the date
mailed. Notices sent by courier or overnight delivery shall be deemed received 2
days after they have been so sent.

      5.5 Assignment. The terms and conditions of this Agreement shall inure to
the benefit of and be binding upon the parties, their successors and permitted
assigns and their legal representatives. None of the parties hereto shall assign
any of its rights or obligations hereunder without the mutual written consent of
the other parties hereto.

      5.6 Headings. Section headings in this Agreement are included herein for
convenience of reference only and shall not constitute a part of this Agreement
for any other purpose.

      5.7 Entire Agreement; Amendments and Waivers. This Agreement constitutes
the full and entire understanding and agreement among the parties with regard to
the subject matter hereof and supersedes any prior written or oral understanding
or agreements with respect thereto, including, without limitation, the
provisions of the Employment Agreement imposing non-compete obligation on Mr.
Jiang. Any term of this Agreement may be amended and the observance of any term
of this Agreement may be waived (either generally or in a particular instance
and either retroactively or prospectively), only with the written consent of
each party hereto. Failure to insist upon strict compliance with any of the
terms, covenants, or conditions hereof shall not be deemed a waiver of such
term, covenant, or

<PAGE>

condition, nor shall any waiver or relinquishment of, or failure to insist upon
strict compliance with, any right or power hereunder at any one or more times be
deemed a waiver or relinquishment of such right or power at any other time or
times.

      5.8 Consultation with Counsel. Mr. Jiang acknowledges (i) that he has
consulted with or has had the opportunity to consult with independent counsel of
his own choice concerning this Agreement and has been advised to do so by the
Company, and (ii) that he has read and understands the Agreement, is fully aware
of its legal effect, and has entered into it freely based on his own judgment.

      5.9 Conflict. If one or more provisions of this Agreement are found to
conflict with any provision in a separate employment contract or any other
document entered into between the Company and Mr. Jiang or his Affiliate, the
provision or provisions of this Agreement shall supercede any such prior
provision to the contrary.

      5.10 Counterparts. This Agreement may be executed in several counterparts,
each of which shall be deemed to be an original but all of which together will
constitute one and the same instrument.

      5.11 Further Assurances. The parties hereto agree to execute such further
instruments and to take such further action as may be reasonably necessary to
carry out the intent of this Agreement.

      5.12 Dispute Resolution.

            (a) Any dispute, controversy or claim arising out of or relating to
this Agreement, or the interpretation, breach, termination or validity hereof,
shall be resolved through consultation. Such consultation shall begin
immediately after one party hereto has delivered to the other party hereto a
written request for such consultation. If within thirty (30) days following the
date on which such notice is given the dispute cannot be resolved, the dispute
shall be submitted to arbitration upon the request of either party with notice
to the other.

            (b) The arbitration shall be conducted in Hong Kong under the
auspices of the Hong Kong International Arbitration Centre (the "CENTRE"). There
shall be three arbitrators. Each party hereto shall each select one arbitrator
within thirty (30) days after giving or receiving the demand for arbitration.
Such arbitrators shall be freely selected, and the parties shall not be limited
in their selection to any prescribed list. The Chairman of the Centre shall
select the third arbitrator, who shall be qualified to practice law in New York.
If either party does not appoint an arbitrator who has consented to participate
within thirty (30) days after selection of the first arbitrator, the relevant
appointment shall be made by the Chairman of the Centre.

            (c) The arbitration proceedings shall be conducted in English. The
arbitration tribunal shall apply the Arbitration Rules of the United Nations
Commission on International Trade Law, as in effect at the time of the
arbitration. However, if such rules are in conflict with the provisions of this
Section 5.12, including the provisions concerning the appointment of
arbitrators, the provisions of this Section 5.12 shall prevail.

            (d) The arbitrators shall decide any dispute submitted by the
parties to the arbitration strictly in accordance with the substantive law of
New York and shall not apply

<PAGE>

any other substantive law.

            (e) Each party hereto shall cooperate with the other in making full
disclosure of and providing complete access to all information and documents
requested by the other in connection with such arbitration proceedings, subject
only to any confidentiality obligations binding on such party.

            (f) The award of the arbitration tribunal shall be final and binding
upon the disputing parties, and either party may apply to a court of competent
jurisdiction for enforcement of such award.

            (g) Either party shall be entitled to seek preliminary injunctive
relief, if possible, from any court of competent jurisdiction pending the
constitution of the arbitral tribunal.

         [The remainder of this page has been left intentionally blank]

<PAGE>

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

                                  FOCUS MEDIA HOLDING LIMITED

                                  By: /s/ Jiang Nanchun
                                      ------------------------------------------
                                      Name: Jiang Nanchun [CHINESE CHARACTERS]
                                      Capacity: CEO

                                  Address for notice:

                                  28th Floor, Zhao Feng World Trade Building,
                                  No. 369 Jiangsu Road,
                                  Shanghai, China
                                  Attn: Jiang Nanchun [CHINESE CHARACTERS]
                                  Tel: 86-21-32124661
                                  Fax: 86-21-52400228

                                  Founder

                                  By: /s/ Jiang Nanchun
                                      ------------------------------------------
                                      Name: Jiang Nanchun [CHINESE CHARACTERS]
                                      Capacity: CEO

                                  Address for notice:
                                  28th Floor, Zhao Feng World Trade Building,
                                  No. 369 Jiangsu Road,
                                  Shanghai, China
                                  Attn: Jiang Nanchun [CHINESE CHARACTERS]
                                  Tel: 86-21-32124661
                                  Fax: 86-21-52400228

                                                   Manager Non-compete Agreement

                                      S-1

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