Document:

Form of 2008 Share Incentive Plan

 Exhibit 10.1 
 CHINA MASS MEDIA INTERNATIONAL ADVERTISING CORP. 
 2008 EQUITY INCENTIVE PLAN 
 1. Purposes of the Plan. The purposes of this Plan are: 
  

	 	•	 	 to attract and retain the best available personnel for positions of substantial responsibility, 

  

	 	•	 	 to provide additional incentive to Employees, Directors and Consultants, and 

  

	 	•	 	 to promote the success of the Company’s business. 

 The Plan permits the grant of Incentive Stock Options, Nonstatutory Stock Options, Restricted Stock, Restricted Stock Units, Performance Units, Performance Shares and Other Stock Based Awards. 
 2. Definitions. As used herein, the following definitions will apply: 
 (a) “Administrator” means the Board or any of its Committees as will be administering the Plan, in accordance with Section 4 of the
Plan. 
 (b) “Applicable Laws” means the requirements relating to the administration of equity-based awards or equity
compensation plans under the Cayman Islands laws, the laws of the People’s Republic of China, U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which Shares are listed or
quoted and the applicable laws of any foreign country or jurisdiction where Awards are, or will be, granted under the Plan. 
 (c)
“Award” means, individually or collectively, a grant under the Plan of Options, SARs, Restricted Stock, Restricted Stock Units, Performance Units, Performance Shares or Other Stock Based Awards. 
 (d) “Award Agreement” means the written or electronic agreement setting forth the terms and provisions applicable to each Award granted
under the Plan. The Award Agreement is subject to the terms and conditions of the Plan. 
 (e) “Awarded Stock” means the
Shares subject to an Award. 
 (f) “Board” means the Board of Directors of the Company. 
 (g) “Change in Control” means the occurrence of any of the following events: 
 (i) Any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the “beneficial owner” (as defined in
Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company’s then outstanding voting securities; 

 (ii) The consummation of the sale or disposition by the Company of all or substantially all of the
Company’s assets; 
 (iii) A change in the composition of the Board occurring within a two-year period, as a result of which fewer than
a majority of the directors are Incumbent Directors. “Incumbent Directors” means directors who either (A) are Directors as of the effective date of the Plan, or (B) are elected, or nominated for election, to the Board with the
affirmative votes of at least a majority of the Incumbent Directors at the time of such election or nomination (but will not include an individual whose election or nomination is in connection with an actual or threatened proxy contest relating to
the election of directors to the Company); or 
 (iv) The consummation of a merger or consolidation of the Company with any other
corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities
of the surviving entity or its parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation.

 (h) “Code” means the Internal Revenue Code of 1986, as amended, and the Treasury regulations promulgated thereunder. Any
reference to a section of the Code herein will be a reference to any successor or amended section of the Code. 
 (i)
“Committee” means a committee of Directors or other individuals satisfying Applicable Laws appointed by the Board in accordance with Section 4 of the Plan 
 (j) “Company” means China Mass Media International Advertising Corp., an exempted company incorporated under the laws of the
Cayman Islands, or any successor thereto. 
 (k) “Consultant” means any person, including an advisor, engaged by the Company
or a Parent or Subsidiary to render services to such entity. 
 (l) “Director” means a member of the Board. 
 (m) “Disability” means total and permanent disability as defined in Section 22(e)(3) of the Code, provided that in the case of
Awards other than Incentive Stock Options, the Administrator in its discretion may determine whether a permanent and total disability exists in accordance with uniform and non-discriminatory standards adopted by the Administrator from time to time.

 (n) “Dividend Equivalent” means a credit, made at the discretion of the Administrator, to the account of a Participant in
an amount equal to the value of dividends paid on one Share for each Share represented by an Award held by such Participant. 
 (o)
“Employee” means any person, including Officers and Directors, employed by the Company or any Parent or Subsidiary of the Company. Neither service as a Director nor payment of a director’s fee by the Company will be sufficient
to constitute “employment” by the Company. 
  

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 (p) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 (q) “Exchange Program” means a program under which (i) outstanding Awards are surrendered or cancelled in exchange for Awards of
the same type (which may have lower exercise prices and different terms), Awards of a different type, and/or cash, and/or (ii) the exercise price of an outstanding Award is reduced. The terms and conditions of any Exchange Program will be
determined by the Administrator in its sole discretion. 
 (r) “Fair Market Value” means, as of any date, the value of
Shares determined as follows: 
 (i) If the Shares are listed on any established stock exchange or a national market system, including
without limitation the New York Stock Exchange, the NASDAQ Global Select Market, the NASDAQ Global Market (formerly the NASDAQ National Market) or the NASDAQ Capital Market (formerly the NASDAQ SmallCap Market) of the NASDAQ Stock Market, the Fair
Market Value will be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system for the day of determination, as reported in The Wall Street Journal or such other source as the
Administrator deems reliable; 
 (ii) If the Shares are regularly quoted by a recognized securities dealer but selling prices are not
reported, the Fair Market Value will be the mean between the high bid and low asked prices for the Shares for the day of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; or

 (iii) In the absence of an established market for the Shares, the Fair Market Value will be determined in good faith by the
Administrator. Notwithstanding the preceding, for federal, state and local income tax reporting purposes and for such other purposes as the Administrator deems appropriate, the Fair Market Value shall be determined by the Administrator in accordance
with uniform and nondiscriminatory standards adopted by it from time to time. 
 (s) “Fiscal Year” means the fiscal year of
the Company. 
 (t) “Incentive Stock Option” means an Option intended to qualify as an incentive stock option within the
meaning of Section 422 of the Code, as designated in the applicable Award Agreement. 
 (u) “Nonstatutory Stock Option”
means an Option that by its terms does not qualify or is not intended to qualify as an Incentive Stock Option. 
 (v)
“Officer” means a person who is an officer of the Company within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder. 
 (w) “Option” means a stock option to purchase Shares granted pursuant to the Plan. 
  

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 (x) “Ordinary Share” means an ordinary share of the Company or the number or fraction of
American Depositary Shares representing such ordinary share, or in the case of Performance Units, Restricted Stock Units, and certain Other Stock Based Awards, the cash equivalent thereof, as applicable. 
 (y) “Other Stock Based Awards” means any other awards not specifically described in the Plan that are valued in whole or in part by
reference to, or are otherwise based on, Shares and are created by the Administrator pursuant to Section 12. 
 (z) “Outside
Director” means a Director who is not an Employee. 
 (aa) “Parent” means a “parent corporation” with
respect to the Company, whether now or hereafter existing, as defined in Section 424(e) of the Code. 
 (bb)
“Participant” means a Service Provider who has been granted an Award under the Plan. 
 (cc) “Performance
Share” means an Award granted to a Service Provider pursuant to Section 10 of the Plan. 
 (dd) “Performance
Unit” means an Award granted to a Service Provider pursuant to Section 10 of the Plan. 
 (ee) “Period of
Restriction” means the period during which the transfer of Shares of Restricted Stock are subject to restrictions and therefore, the Shares are subject to a substantial risk of forfeiture. Such restrictions may be based on the passage of
time, the achievement of target levels of performance, or the occurrence of other events as determined by the Administrator. 
 (ff)
“Plan” means this 2008 Equity Incentive Plan. 
 (gg) “Restricted Stock” means Shares issued pursuant to a
Restricted Stock Award under Section 8 or issued pursuant to the early exercise of an Option. 
 (hh) “Restricted Stock
Unit” means an Award that the Administrator permits to be paid in installments or on a deferred basis pursuant to Sections 4 and 11 of the Plan. 
 (ii) “Service Provider” means an Employee, Director or Consultant. 
 (jj)
“Share” means an Ordinary Share, as adjusted in accordance with Section 15 of the Plan. 
 (kk) “Stock
Appreciation Right” or “SAR” means an Award that pursuant to Section 9 of the Plan is designated as a SAR. 
 (ll) “Subsidiary” means a “subsidiary corporation” with respect to the Company, whether now or hereafter existing, as defined in Section 424(f) of the Code. 
  

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 3. Stock Subject to the Plan. 
 (a) Stock Subject to the Plan. Subject to the provisions of Section 15 of the Plan, the maximum aggregate number of Shares that may be issued
under the Plan is                      plus an annual increase on the first day of each Fiscal Year, beginning in 2009, equal to two
percent (2%) of the outstanding Shares on the first day of the Fiscal Year; or such lesser amount of Shares as determined by the Board, all of which shall be subject to Incentive Stock Option treatment. The Shares may be authorized, but
unissued, or reacquired Shares. Shares shall not be deemed to have been issued pursuant to the Plan with respect to any portion of an Award that is settled in cash. Upon payment in Shares pursuant to the exercise of an Award, the number of Shares
available for issuance under the Plan shall be reduced only by the number of Shares actually issued in such payment. If a Participant pays the exercise price (or purchase price, if applicable) of an Award through the tender of Shares, or if Shares
are tendered or withheld to satisfy any Company withholding obligations, the number of Shares so tendered or withheld shall again be available for issuance pursuant to future Awards under the Plan. 
 (b) Lapsed Awards. If any outstanding Award expires or is terminated or canceled without having been exercised or settled in full, or if Shares
acquired pursuant to an Award subject to forfeiture or repurchase are forfeited or repurchased by the Company, the Shares allocable to the terminated portion of such Award or such forfeited or repurchased Shares shall again be available for grant
under the Plan. 
 (c) Share Reserve. The Company, during the term of the Plan, shall at all times reserve and keep available such
number of Shares as will be sufficient to satisfy the requirements of the Plan. 
 (d) Application to American Depositary Shares
(“ADSs”). For purposes of calculating the number of Shares issued under this Plan (and for purposes of calculating any other Share limit set forth herein), the issuance of an ADS shall be deemed to equal one Share, provided, however,
that if the number of Shares represented by an ADS is other than on a one-to-one basis, the number of Shares issued under this Plan (and any other Share limit set forth herein) shall be adjusted to reflect such issuance of ADSs. 
 4. Administration of the Plan. 
 (a)
Procedure. 
 (i) Multiple Administrative Bodies. Different Committees with respect to different groups of Service Providers
may administer the Plan. 
 (ii) Section 162(m). To the extent that the Administrator determines it to be desirable and necessary
to qualify Awards granted hereunder as “performance-based compensation” within the meaning of Section 162(m) of the Code, the Plan will be administered by a Committee of two or more “outside directors” within the meaning of
Section 162(m) of the Code. 
 (iii) Rule 16b-3. To the extent desirable to qualify transactions hereunder as exempt under Rule
16b-3 of the Exchange Act, or any successor thereto, the transactions contemplated hereunder will be structured to satisfy the requirements for exemption under Rule 16b-3. 
  

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 (iv) Other Administration. Other than as provided above, the Plan will be administered by
(A) the Board or (B) a Committee, which committee will be constituted to satisfy Applicable Laws. 
 (v) Delegation of
Authority for Day-to-Day Administration. Except to the extent prohibited by Applicable Law, the Administrator may delegate to one or more individuals the day-to-day administration of the Plan and any of the functions assigned to it in this Plan.
Such delegation may be revoked at any time. 
 (b) Powers of the Administrator. Subject to the provisions of the Plan, and in the case
of a Committee, subject to the specific duties delegated by the Board to such Committee, the Administrator will have the authority, in its discretion: 
 (i) to determine the Fair Market Value; 
 (ii) to select the Service Providers to whom Awards may be
granted hereunder; 
 (iii) to determine the number of Shares to be covered by each Award granted hereunder; 
 (iv) to approve forms of agreement for use under the Plan; 
 (v) to determine the terms and conditions (not inconsistent with the terms of the Plan) of any Award granted hereunder including, but not limited to, the exercise price, the time or times when Awards may be exercised
(which may be based on performance criteria), any vesting acceleration or waiver of forfeiture or repurchase restrictions, and any restriction or limitation regarding any Award or the Shares relating thereto, based in each case on such factors as
the Administrator, in its sole discretion, will determine; 
 (vi) to reduce the exercise price of any Award to the then current Fair Market
Value if the Fair Market Value of the Shares covered by such Award shall have declined since the date the Award was granted; 
 (vii) to
institute an Exchange Program; 
 (viii) to construe and interpret the terms of the Plan and Awards granted pursuant to the Plan;

 (ix) to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to sub-plans
established for the purpose of satisfying applicable foreign laws and/or qualifying for preferred tax treatment under applicable foreign tax laws; 
  

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 (x) to modify or amend each Award (subject to Section 18(c) of the Plan), including the
discretionary authority to extend the post-termination exercisability period of Awards longer than is otherwise provided for in the Plan or an Award Agreement and accelerate the satisfaction of any vesting criteria or waiver of forfeiture or
repurchase restrictions; 
 (xi) to allow Participants to satisfy withholding tax obligations by electing to have the Company withhold from
the Shares or cash to be issued upon exercise or vesting of an Award that number of Shares or cash having a Fair Market Value equal to the minimum amount required to be withheld (The Fair Market Value of any Shares to be withheld will be determined
on the date that the amount of tax to be withheld is to be determined, and all elections by a Participant to have Shares or cash withheld for this purpose will be made in such form and under such conditions as the Administrator may deem necessary or
advisable); 
 (xii) to authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Award
previously granted by the Administrator, 
 (xiii) to allow a Participant to defer the receipt of the payment of cash or the delivery of
Shares that would otherwise be due to such Participant under an Award; 
 (xiv) to determine whether Awards will be settled in Shares, cash
or in any combination thereof; 
 (xv) to determine whether Awards will be adjusted for Dividend Equivalents; 
 (xvi) to create Other Stock Based Awards for issuance under the Plan; 
 (xvii) to establish a program whereby Service Providers designated by the Administrator can reduce compensation otherwise payable in cash in exchange for Awards under the Plan; 
 (xviii) to impose such restrictions, conditions or limitations as it determines appropriate as to the timing and manner of any resales by a Participant
or other subsequent transfers by the Participant of any Shares issued as a result of or under an Award, including without limitation, (A) restrictions under an insider trading policy, and (B) restrictions as to the use of a specified
brokerage firm for such resales or other transfers; and 
 (xix) to make all other determinations deemed necessary or advisable for
administering the Plan. 
 (c) Effect of Administrator’s Decision. The Administrator’s decisions, determinations and
interpretations will be final and binding on all Participants and any other holders of Awards. 
 5. Eligibility. Nonstatutory Stock
Options, Restricted Stock, Stock Appreciation Rights, Performance Units, Performance Shares, Restricted Stock Units and Other Stock Based Awards may be granted to Service Providers. Incentive Stock Options may be granted only to Employees.

  

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 6. Limitations. 
 (a) ISO $100,000 Rule. Each Option will be designated in the Award Agreement as either an Incentive Stock Option or a Nonstatutory Stock Option. However, notwithstanding such designation, to the extent that the
aggregate Fair Market Value of the Shares with respect to which Incentive Stock Options are exercisable for the first time by the Participant during any calendar year (under all plans of the Company and any Parent or Subsidiary) exceeds $100,000,
such Options will be treated as Nonstatutory Stock Options. For purposes of this Section 6(a), Incentive Stock Options will be taken into account in the order in which they were granted. The Fair Market Value of the Shares will be determined as
of the time the Option with respect to such Shares is granted. 
 (b) No Rights as a Service Provider. Neither the Plan nor any Award
shall confer upon a Participant any right with respect to continuing his or her relationship as a Service Provider, nor shall they interfere in any way with the right of the Participant or the right of the Company or its Parent or Subsidiaries to
terminate such relationship at any time, with or without cause. 
 7. Stock Options. 
 (a) Term of Option. The term of each Option will be stated in the Award Agreement. In the case of an Incentive Stock Option, the term will be ten
(10) years from the date of grant or such shorter term as may be provided in the Award Agreement. Moreover, in the case of an Incentive Stock Option granted to a Participant who, at the time the Incentive Stock Option is granted, owns stock
representing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any Parent or Subsidiary, the term of the Incentive Stock Option will be five (5) years from the date of grant or such
shorter term as may be provided in the Award Agreement. 
 (b) Option Exercise Price and Consideration. 
 (i) Exercise Price. The per Share exercise price for the Shares to be issued pursuant to exercise of an Option will be determined by the
Administrator, subject to the following: 
 (1) In the case of an Incentive Stock Option 
 (A) granted to an Employee who, at the time the Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of the total
combined voting power of all classes of stock of the Company or any Parent or Subsidiary, the per Share exercise price will be no less than 110% of the Fair Market Value per Share on the date of grant. 
 (B) granted to any Employee other than an Employee described in paragraph (A) immediately above, the per Share exercise price will be no less than
100% of the Fair Market Value per Share on the date of grant. 
  

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 (2) In the case of a Nonstatutory Stock Option, the per Share exercise price will be determined by the
Administrator. In the case of a Nonstatutory Stock Option intended to qualify as “performance-based compensation” within the meaning of Section 162 (m) of the Code, the per Share exercise price will be no less than 100% of the
Fair Market Value per Share on the date of grant. 
 (3) Notwithstanding the foregoing, Incentive Stock Options may be granted with a per
Share exercise price of less than 100% of the Fair Market Value per Share on the date of grant pursuant to a transaction described in, and in a manner consistent with, Section 424(a) of the Code. 
 (ii) Waiting Period and Exercise Dates. At the time an Option is granted, the Administrator will fix the period within which the Option may be
exercised and will determine any conditions that must be satisfied before the Option may be exercised. The Administrator, in its sole discretion, may accelerate the satisfaction of such conditions at any time. 
 (c) Form of Consideration. The Administrator will determine the acceptable form of consideration for exercising an Option, including the method of
payment. In the case of an Incentive Stock Option, the Administrator shall determine the acceptable form of consideration at the time of grant. Such consideration, to the extent permitted by Applicable Laws, may consist entirely of: 
 (i) cash; 
 (ii) check; 
 (iii) promissory note; 
 (iv) other Shares
which meet the conditions established by the Administrator to avoid adverse accounting consequences (as determined by the Administrator); 
 (v) consideration received by the Company under a cashless exercise program implemented by the Company in connection with the Plan; 
 (vi) a reduction in the amount of any Company liability to the Participant, including any liability attributable to the Participant’s participation in any Company-sponsored deferred compensation program or arrangement; 
 (vii) any combination of the foregoing methods of payment; or 
 (viii) such other consideration and method of payment for the issuance of Shares to the extent permitted by Applicable Laws. 
 (d) Exercise of Option. 
 (i) Procedure for Exercise; Rights as a Stockholder. Any Option
granted hereunder will be exercisable according to the terms of the Plan and at such times and under such conditions as determined by the Administrator and set forth in the Award Agreement. An Option may not be exercised for a fraction of a Share.

  

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 An Option will be deemed exercised when the Company receives: (x) written or electronic notice of
exercise (in accordance with the Award Agreement) from the person entitled to exercise the Option, and (y) full payment for the Shares with respect to which the Option is exercised (including provision for any applicable tax withholding). Full
payment may consist of any consideration and method of payment authorized by the Administrator and permitted by the Award Agreement and the Plan. Shares issued upon exercise of an Option will be issued in the name of the Participant or, if requested
by the Participant, in the name of the Participant and his or her spouse. Until the Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or
receive dividends or any other rights as a stockholder will exist with respect to the Awarded Stock, notwithstanding the exercise of the Option. The Company will issue (or cause to be issued) such Shares promptly after the Option is exercised. No
adjustment will be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Section 15 of the Plan or the applicable Award Agreement. 
 Exercising an Option in any manner will decrease the number of Shares thereafter available for sale under the Option, by the number of Shares as to which
the Option is exercised. 
 (ii) Termination of Relationship as a Service Provider. If a Participant ceases to be a Service Provider,
other than upon the Participant’s death or Disability, the Participant may exercise his or her Option within such period of time as is specified in the Award Agreement to the extent that the Option is vested on the date of termination (but in
no event later than the expiration of the term of such Option as set forth in the Award Agreement). In the absence of a specified time in the Award Agreement, the Option will remain exercisable for thirty (30) days following the
Participant’s termination. Unless otherwise provided by the Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the
Plan. If after termination the Participant does not exercise his or her Option as to all of the vested Shares within the time specified by the Administrator, the Option will terminate, and the remaining Shares covered by such Option will revert to
the Plan. 
 (iii) Disability of Participant. If a Participant ceases to be a Service Provider as a result of the Participant’s
Disability, the Participant may exercise his or her Option within such period of time as is specified in the Award Agreement to the extent the Option is vested on the date of termination (but in no event later than the expiration of the term of such
Option as set forth in the Award Agreement). In the absence of a specified time in the Award Agreement, the Option will remain exercisable for six (6) months following the Participant’s termination. Unless otherwise provided by the
Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after termination the Participant does not exercise his
or her Option as to all of the vested Shares within the time specified by the Administrator, the Option will terminate, and the remaining Shares covered by such Option will revert to the Plan. 
  

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 (iv) Death of Participant. If a Participant dies while a Service Provider, the Option may be
exercised following the Participant’s death within such period of time as is specified in the Award Agreement to the extent that the Option is vested on the date of death (but in no event may the Option be exercised later than the expiration of
the term of such Option as set forth in the Award Agreement), by the Participant’s designated beneficiary, provided such beneficiary has been designated prior to the Participant’s death in a form acceptable to the Administrator. If no such
beneficiary has been designated by the Participant, then such Option may be exercised by the personal representative of the Participant’s estate or by the persons) to whom the Option is transferred pursuant to the Participant’s will or in
accordance with the laws of descent and distribution. In the absence of a specified time in the Award Agreement, the Option will remain exercisable for six (6) months following the Participant’s death. Unless otherwise provided by the
Administrator, if at the time of death the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will immediately revert to the Plan. If the Option is not exercised as to all of the vested
Shares within the time specified by the Administrator, the Option will terminate, and the remaining Shares covered by such Option will revert to the Plan. 
 8. Restricted Stock. 
 (a) Grant of Restricted Stock. Subject to the terms and provisions of
the Plan, the Administrator, at any time and from time to time, may grant Shares of Restricted Stock to Service Providers in such amounts as the Administrator, in its sole discretion, will determine. 
 (b) Restricted Stock Agreement. Each Award of Restricted Stock will be evidenced by an Award Agreement that will specify the Period of
Restriction, the number of Shares granted, and such other terms and conditions as the Administrator, in its sole discretion, will determine. Unless the Administrator determines otherwise, Shares of Restricted Stock will be held by the Company as
escrow agent until the restrictions on such Shares have lapsed. 
 (c) Transferability. Except as provided in this Section 8,
Shares of Restricted Stock may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated until the end of the applicable Period of Restriction. 
 (d) Other Restrictions. The Administrator, in its sole discretion, may impose such other restrictions on Shares of Restricted Stock as it may deem advisable or appropriate. 
 (e) Removal of Restrictions. Except as otherwise provided in this Section 8, Shares of Restricted Stock covered by each Restricted Stock
grant made under the Plan will be released from escrow as soon as practicable after the last day of the Period of Restriction. The Administrator, in its discretion, may accelerate the time at which any restrictions will lapse or be removed.

 (f) Voting Rights. During the Period of Restriction, Service Providers holding Shares of Restricted Stock granted hereunder may
exercise full voting rights with respect to those Shares, unless the Administrator determines otherwise. 
 (g) Dividends and Other
Distributions. During the Period of Restriction, Service Providers holding Shares of Restricted Stock will be entitled to receive all dividends and other distributions paid with respect to such Shares unless otherwise provided in the 

  

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Award Agreement. If any such dividends or distributions are paid in Shares, the Shares will be subject to the same restrictions on transferability and
forfeitability as the Shares of Restricted Stock with respect to which they were paid. 
 (h) Return of Restricted Stock to Company.
On the date set forth in the Award Agreement, the Restricted Stock for which restrictions have not lapsed will revert to the Company and again will become available for grant under the Plan. 
 9. Stock Appreciation Rights. 
 (a)
Grant of SARs. Subject to the terms and conditions of the Plan, a SAR may be granted to Service Providers at any time and from time to time as will be determined by the Administrator, in its sole discretion. 
 (b) Number of Shares. The Administrator will have complete discretion to determine the number of SARs granted to any Service Provider. 

(c) Exercise Price and Other Terms. The Administrator, subject to the provisions of the Plan, will have complete discretion to determine the
terms and conditions of SARs granted under the Plan. 
 (d) Exercise of SARs. SARs will be exercisable on such terms and conditions as
the Administrator, in its sole discretion, will determine. The Administrator, in its sole discretion, may accelerate exercisability at any time. 
 (e) SAR Agreement. Each SAR grant will be evidenced by an Award Agreement that will specify the exercise price, the term of the SAR, the conditions of exercise, and such other terms and conditions as the Administrator, in its sole
discretion, will determine. 
 (f) Expiration of SARs. An SAR granted under the Plan will expire upon the date determined by the
Administrator, in its sole discretion, and set forth in the Award Agreement. Notwithstanding the foregoing, the rules of Sections 7(d)(ii), 7(d)(iii) and 7(d)(iv) also will apply to SARs. 
 (g) Payment of SAR Amount. Upon exercise of an SAR, a Participant will be entitled to receive payment from the Company in an amount determined by
multiplying: 
 (i) The difference between the Fair Market Value of a Share on the date of exercise over the exercise price; times

 (ii) The number of Shares with respect to which the SAR is exercised. 
 At the discretion of the Administrator, the payment upon the exercise of an SAR may be in cash, in Shares of equivalent value, or in some combination
thereof. 
  

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 10. Performance Units and Performance Shares. 
 (a) Grant of Performance Units/Shares. Subject to the terms and conditions of the Plan, Performance Units and Performance Shares may be granted to
Service Providers at any time and from time to time, as will be determined by the Administrator, in its sole discretion. The Administrator will have complete discretion in determining the number of Performance Units and Performance Shares granted to
each Participant. 
 (b) Value of Performance Units/Shares. Each Performance Unit will have an initial value that is established by
the Administrator on or before the date of grant. Each Performance Share will have an initial value equal to the Fair Market Value of a Share on the date of grant. 
 (c) Performance Objectives and Other Terms. The Administrator will set performance objectives in its discretion which, depending on the extent to which they are met, will determine the number or value of
Performance Units/Shares that will be paid out to the Participant. The time period during which the performance objectives must be met will be called the “Performance Period.” Each Award of Performance Units/Shares will be evidenced by an
Award Agreement that will specify the Performance Period, and such other terms and conditions as the Administrator, in its sole discretion, will determine. The Administrator may set performance objectives based upon the achievement of Company-wide,
divisional, or individual goals (including solely continued service), applicable federal or state securities laws, or any other basis determined by the Administrator in its discretion. 
 (d) Earning of Performance Units/Shares. After the applicable Performance Period has ended, the holder of Performance Units/Shares will be
entitled to receive a payout of the number of Performance Units/Shares earned by the Participant over the Performance Period, to be determined as a function of the extent to which the corresponding performance objectives have been achieved. After
the grant of a Performance Unit/Share, the Administrator, in its sole discretion, may reduce or waive any performance objectives for such Performance Unit/Share. 
 (e) Form and Timing of Payment of Performance Units/Shares. Payment of earned Performance Units/Shares will be made after the expiration of the applicable Performance Period at the time determined by the
Administrator. The Administrator, in its sole discretion, may pay earned Performance Units/Shares in the form of cash, in Shares (which have an aggregate Fair Market Value equal to the value of the earned Performance Units/Shares at the close of the
applicable Performance Period) or in a combination of cash and Shares. 
 (f) Cancellation of Performance Units/Shares. On the date
set forth in the Award Agreement, all unearned or unvested Performance Units/Shares will be forfeited to the Company, and again will be available for grant under the Plan. 
 11. Restricted Stock Units. Restricted Stock Units shall consist of a Restricted Stock, Performance Share or Performance Unit Award that the
Administrator, in its sole discretion permits to be paid out in installments or on a deferred basis, in accordance with rules and procedures established by the Administrator 
  

 13 

 12. Other Stock Based Awards. Other Stock Based Awards may be granted either alone, in addition
to, or in tandem with, other Awards granted under the Plan and/or cash awards made outside of the Plan. The Administrator shall have authority to determine the Service Providers to whom and the time or times at which Other Stock Based Awards shall
be made, the amount of such Other Stock Based Awards, and all other conditions of the Other Stock Based Awards including any dividend and/or voting rights. 
 13. Leaves of Absence. Unless the Administrator provides otherwise, vesting of Awards granted hereunder will be suspended during any unpaid leave of absence and will resume on the date the Participant returns
to work on a regular schedule as determined by the Company; provided, however, that no vesting credit will be awarded for the time vesting has been suspended during such leave of absence. A Service Provider will not cease to be an
Employee in the case of (i) any leave of absence approved by the Company or (ii) transfers between locations of the Company or between the Company, its Parent, or any Subsidiary. For purposes of Incentive Stock Options, no leave of absence
may exceed ninety (90) days, unless reemployment upon expiration of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, then three months following
the 91st day of such leave any Incentive Stock Option held by the Participant will cease to be treated as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock Option. 
 14. Non-Transferability of Awards. Unless determined otherwise by the Administrator, an Award may not be sold, pledged, assigned, hypothecated,
transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Participant, only by the Participant. If the Administrator makes an Award transferable, such
Award will contain such additional terms and conditions as the Administrator deems appropriate. 
 15. Adjustments; Dissolution or
Liquidation; Change in Control. 
 (a) Adjustments. In the event that any dividend or other distribution (whether in the form of
cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or
other change in the corporate structure of the Company affecting the Shares occurs such that an adjustment is determined by the Administrator (in its sole discretion) to be appropriate in order to prevent dilution or enlargement of the benefits or
potential benefits intended to be made available under the Plan, then the Administrator shall, in such manner as it may deem equitable, adjust the number and class of Shares which may be delivered under the Plan, the number, class and price of
Shares subject to outstanding awards, and the numerical limits in Section 3. Notwithstanding the preceding, the number of Shares subject to any Award always shall be a whole number. 
 (b) Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Administrator will notify each
Participant as soon as practicable prior to the effective date of such proposed transaction. The Administrator in its discretion may provide for a Participant to have the right to exercise his or her Award, to the extent applicable, until ten
(10) days prior to such transaction as to all of the Awarded Stock covered thereby, including Shares as to which the Award would not otherwise 

  

 14 

 
be exercisable. In addition, the Administrator may provide that any Company repurchase option or forfeiture rights applicable to any Award shall lapse 100%,
and that any Award vesting shall accelerate 100%, provided the proposed dissolution or liquidation takes place at the time and in the manner contemplated. To the extent it has not been previously exercised or vested, an Award will terminate
immediately prior to the consummation of such proposed action. 
 (c) Change in Control. 
 (i) Stock Options and SARs. In the event of a Change in Control, each outstanding Option and SAR shall be assumed or an equivalent option or SAR
substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. In the event that the successor corporation refuses to assume or substitute for the Option or SAR, the Administrator shall have the authority,
exercisable either in advance of any actual or anticipated Change in Control or at the time of an actual Change in Control, to provide for the full or partial automatic vesting and exercisability of one or more outstanding unvested Awards under the
Plan in connection with a Change in Control, on such terms and conditions as the Administrator may specify. If an Option or SAR is not assumed or substituted in the event of a Change in Control, the Administrator shall notify the Participant in
writing or electronically that the Option or SAR shall be exercisable, to the extent vested, for a period of up to fifteen (15) days from the date of such notice, and the Option or SAR shall terminate upon the expiration of such period. For the
purposes of this paragraph, the Option or SAR shall be considered assumed if, following the Change in Control, the option or SAR confers the right to purchase or receive, for each Share of Awarded Stock subject to the Option or SAR immediately prior
to the Change in Control, the consideration (whether stock, cash, or other securities or property) received in the Change in Control by holders of Shares for each Share held on the effective date of the transaction (and if holders were offered a
choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares); provided, however, that if such consideration received in the Change in Control is not solely common stock of the successor
corporation or its Parent, the Administrator may, with the consent of the successor corporation, provide for the consideration to be received upon the exercise of the Option or SAR, for each share of Awarded Stock subject to the Option or SAR, to be
solely common stock of the successor corporation or its Parent equal in fair market value to the per share consideration received by holders of Shares in the Change in Control. Notwithstanding anything herein to the contrary, an Award that vests, is
earned, or is paid-out upon the satisfaction of one or more performance goals will not be considered assumed if the Company or its successor modifies any of such performance goals without the Participant’s consent; provided, however, a
modification to such performance goals only to reflect the successor corporation’s post-Change in Control corporate structure will not be deemed to invalidate an otherwise valid Award assumption. 
 (ii) Restricted Stock, Performance Shares, Performance Units, Restricted Stock Units and Other Stock Based Awards. In the event of a Change in
Control, each outstanding Award of Restricted Stock, Performance Share, Performance Unit, Other Stock Based Award and Restricted Stock Unit shall be assumed or an equivalent Restricted Stock, Performance Share, Performance Unit, Other Stock Based
Award and Restricted Stock Unit award substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. In the event that the successor corporation refuses to assume or substitute for the Award, the 

  

 15 

 
Administrator shall have the authority, exercisable either in advance of any actual or anticipated Change in Control or at the time of an actual Change in
Control, to provide for the full or partial automatic vesting and exercisability of one or more outstanding unvested Awards and the release from restrictions on transfer and repurchase or forfeiture rights of such Awards in connection with a Change
in Control, on such terms and conditions as the Administrator may specify. For the purposes of this paragraph, an Award of Restricted Stock, Performance Shares, Performance Units, Other Stock Based Awards and Restricted Stock Units shall be
considered assumed if, following the Change in Control, the award confers the right to purchase or receive, for each Share subject to the Award immediately prior to the Change in Control (and if a Restricted Stock Unit or Performance Unit, for each
Share as determined based on the then current value of the unit), the consideration (whether stock, cash, or other securities or property) received in the Change in Control by holders of Shares for each Share held on the effective date of the
transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares); provided, however, that if such consideration received in the Change in Control is not
solely common stock of the successor corporation or its Parent, the Administrator may, with the consent of the successor corporation, provide that the consideration to be received for each Share (and if a Restricted Stock Unit or Performance Unit,
for each Share as determined based on the then current value of the unit) be solely common stock of the successor corporation or its Parent equal in fair market value to the per share consideration received by holders of Shares in the Change in
Control. Notwithstanding anything herein to the contrary, an Award that vests, is earned, or is paid-out upon the satisfaction of one or more performance goals will not be considered assumed if the Company or its successor modifies any of the
performance goals without the Participant’s consent; provided, however, a modification to the performance goals only to reflect the successor corporation’s post-Change in Control corporate structure will not be deemed to invalidate an
otherwise valid Award assumption. 
 (iii) Outside Director Awards. Notwithstanding any provision of Section 15(c)(i) or
15(c)(ii) to the contrary, with respect to Awards granted to an Outside Director that are assumed or substituted for, if on the date of or following the assumption or substitution the Participant’s status as a Director or a director of the
successor corporation, as applicable, is terminated other than upon a voluntary resignation by the Participant, then the Participant shall fully vest in and have the right to exercise his or her Options and Stock Appreciation Rights as to all of the
Awarded Stock, including Shares as to which such Awards would not otherwise be vested or exercisable, all restrictions on Restricted Stock and Restricted Stock Units, as applicable, will lapse, and, with respect to Performance Shares, Performance
Units, and Other Stock Based Awards, all performance goals and other vesting criteria will be deemed achieved at target levels and all other terms and conditions met. 
 16. Date of Grant. The date of grant of an Award will be, for all purposes, the date on which the Administrator makes the determination granting such Award, or such other later date as is determined by the
Administrator. Notice of the determination will be provided to each Participant within a reasonable time after the date of such grant. 
 17.
Term of Plan. Subject to Section 22 of the Plan, the Plan will become effective upon the earlier of its adoption by the Board or its approval by the stockholders of the Company. 
  

 16 

 It will continue in effect for a term of ten (10) years unless terminated earlier under Section 18 of the Plan.

 18. Amendment and Termination of the Plan. 
 (a) Amendment and Termination. The Board may at any time amend, alter, suspend or terminate the Plan. 
 (b) Stockholder Approval. The Company will obtain stockholder approval of any Plan amendment to the extent necessary and desirable to comply with Applicable Laws. 
 (c) Effect of Amendment or Termination. No amendment, alteration, suspension, or termination of the Plan will materially or adversely impair the
rights of any Participant, unless otherwise mutually agreed upon by the Participant and the Administrator, which agreement must be in writing and signed by the Participant and the Company. Termination of the Plan will not affect the
Administrator’s ability to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination. 
 19. Conditions Upon Issuance of Shares. 
 (a) Legal Compliance. Shares will not be issued
pursuant to the exercise of an Award unless the exercise of such Award and the issuance and delivery of such Shares will comply with Applicable Laws and will be further subject to the approval of counsel for the Company with respect to such
compliance. 
 (b) Investment Representations. As a condition to the exercise or receipt of an Award, the Company may require the
person exercising or receiving such Award to represent and warrant at the time of any such exercise or receipt that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the
opinion of counsel for the Company, such a representation is required. 
 20. Severability. Notwithstanding any contrary provision of
the Plan or an Award to the contrary, if any one or more of the provisions (or any part thereof) of this Plan or the Awards shall be held invalid, illegal, or unenforceable in any respect, such provision shall be modified so as to make it valid,
legal, and enforceable, and the validity, legality, and enforceability of the remaining provisions (or any part thereof) of the Plan or Award, as applicable, shall not in any way be affected or impaired thereby. 
 21. Inability to Obtain Authority. The inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority
is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, will relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority
will not have been obtained. 
 22. Stockholder Approval. The Plan will be subject to approval by the stockholders of the Company
within twelve (12) months after the date the Plan is adopted. Such stockholder approval will be obtained in the manner and to the degree required under Applicable Laws. 
  

 17 

 23. No Rights to Awards. No eligible Service Provider or other person shall have any claim to be
granted any Award pursuant to the Plan, and neither the Company nor the Administrator is obligated to treat Participants or any other person uniformly. 
 24. No Stockholder Rights. Except as otherwise provided herein, a Participant shall have none of the rights of a stockholder with respect to Shares covered by an Award until the Participant becomes the record
owner of such Shares. 
 25. Fractional Shares. No fractional Shares shall be issued and the Administrator shall determine, in its
discretion, whether cash shall be given in lieu of fractional Shares or whether such fractional Shares shall be eliminated by rounding up or down as appropriate. 
 26. Governing Law. The Plan and all Award Agreements shall be construed in accordance with and governed by the laws of Cayman Islands. 
  

 18English Translation of Non-Competition Agreement dated January 31, 2008

 Exhibit 10.3 
  
  
 Non-competition Agreement 
  
  
 between 
 Mr. Wang Shengcheng, Ms. Zhang Kun, Mr. Wang Zhiyi and Ms. Zhang Wenkai 
 and 
 Mass Media & Universal
International Advertising Company Ltd. 

 This Non-competition Agreement (hereinafter referred to as this “Agreement”) is entered into as
at January 31, 2008 in Beijing, People’s Republic of China by and between: 
  

					
	Party A:	  	Mr. Wang Shengcheng	  	Nationality: Canadian
		  		  	Passport number: BA341072
		  	Ms. Zhang Kun	  	Nationality: Canadian
		  		  	Passport number: JP587675
		  	Mr. Wang Zhiyi	  	Nationality: Chinese
		  		  	ID card number: 320303193402202419
		  	Ms. Zhang Wenkai	  	Nationality: Chinese
		  		  	ID card number: 320303193408202444

 and 
  

					
	Party B:	  	 MassMedia & Universal International Advertising Company Ltd.
 Registered address: 1014B, Main Building of Tian’an Cyber Times Tower
 Chegongmiao Road, Futian District, Shenzhen
 Enterprise Legal Person Business License Number: QiHeYueShenZong
 No. 111527

 Whereas, Mr. Wang Shengcheng is the ultimate controlling shareholder of Party B, and Party
B’s foreign shareholder is intending to conduct a public offering of its shares and become publicly listed abroad; 
 Whereas, if any
existing or future corporation, company or other entities directly or indirectly controlled by Party A is engaged in the same business as Party B, Party B’s business will be damaged thereby. 
 NOW, THEREFORE, in accordance with relevant laws and regulations and through friendly negotiations, Party A and Party B reach agreement as follows on
certain matters relating to business relationship. 
 Article 1 Definitions 
 For purposes of this Agreement, unless otherwise required by the context, the following terms shall have the meanings set forth below: 
  

	1.1	“Affiliate”, in respect of either party hereto, means any corporation, company or any other entity that is directly or indirectly controlled by such party,
through (a) the direct or indirect ownership of more than 50% of the voting rights; or (b) the direct or indirect beneficial ownership of more than 50% of the distributable profit; or (c) the direct or indirect control of the board of directors or
management; or (d) the direct or indirect ownership of more than 50% of the registered capital, of such corporation, company or entity. In order to avoid any doubt, for purposes of this Agreement, Party A’s Affiliates shall not include Party B
or any of the Affiliates thereof. 

  

 1 

	1.2	“PRC” means the People’s Republic of China (for purposes hereof, excluding Hong Kong, Macao and Taiwan). 

  

	1.3	“Customer” means any individual, company, partnership or other organization to which Party B provides services or with which Party B is in cooperation.

  

	1.4	“Potential Customer” means any individual, company, partnership or other organization that conducts negotiations or discussions with Party B regarding Party
B’s provision of services thereto or future cooperation with Party B. 

  

	1.5	“Non-competition Period” means the period commencing from the effective date of this Agreement and ending on the earlier of: 

 (i) the date on which the public offered shares (or depositary shares; meaning the same below) of Party B’s direct or indirect foreign parent company
(the “Listco”) cease being listed on any stock exchange; provided however that, any suspension of the trading of the shares of the Listco shall not be considered; and 
 (ii) the date on which Mr. Wang Shengcheng ceases being deemed to directly or indirectly control or hold 20% or more of the equity interest in the
Listco; or 
  

	1.6	“Business” means the business conducted by Party B at present or in the future, including but not limited to, designing, producing, acting as the agent with
respect to, or publishing advertisements for both domestic and foreign clients. 

 Article 2 Non-competition 

Party A hereby undertakes to Party B that, within the Non-competition Period, without written consent of Party B, Party A shall not, whether on its own account or on
behalf of any person, or in association with any individual, company, partnership or other organization, or as shareholder, partner, agent, consultant or in any other capacity, 
 (i) directly or indirectly conduct any business that is or may be in direct or indirect competition with Party B, within the territory in which Party B
conducts the Business; 
 (ii) other than the companies directly or indirectly invested in by Party A prior to the execution of this
Agreement, directly or indirectly invest in more than 5% of the equity interest in any company, partnership or other entity that competes or may compete with the Business; 
 (iii) compete with Party B by directly or indirectly soliciting or assisting in the solicitation of or contacting any of Party B’s Customers or
Potential Customers, or accepting or assisting in the acceptance of any order from Party B’s Customers or Potential Customers; or 
  

 2 

 (iv) directly or indirectly induce, entice, encourage, incite or otherwise attempt to cause the employees
of Party B, including officers and employees, to depart from Party B, or substantially involve itself in hiring the employees of Party B, including officers and employees, during the Non-competition Period. 
 Unless otherwise agreed by Party B or otherwise agreed between Party A and Party B in this Agreement, Party A shall cause each company, partnership or other entity
directly or indirectly invested in by it prior to the execution of this Agreement not to conduct any business that is or may be in direct or indirect competition with Party B within the Non-competition Period. 
 Article 3 Right of First Refusal and Purchase Option 
  

	3.1	Party A hereby undertakes to Party B that Party A shall make its best efforts to promptly notify Party B of any business that competes or may compete with Party B or any business
opportunity that is relevant to the Business upon Party A’s being aware of the same. Party B shall, within five (5) working days after its receipt of such notice from Party A, hold d board meeting to decide whether to consider or engage in
such business or exploit such business opportunity so notified and Party B shall: 

 (i) notify Party A in writing within five
(5) working days after the date of such board meeting if it decides to engage in such business or exploit such business opportunity so notified by Party A; or 
 (ii) notify Party A in writing within three (3) working days after the date of such board meeting if it decides not to engage in such business or exploit such business opportunity so notified by Party A. In such
event, Party A shall, subject to Party B’s purchase option set forth in Section 3.2 below, have the right to engage in such business or exploit such business opportunity following its receipt of such written notice from Party B.

  

	3.2	Party A hereby acknowledges and undertakes that where Party A engages in the said business relevant to the Business (the “New Business”) in accordance with
Section 3.1(ii) above, Party B shall have an option to purchase the New Business, pursuant to which, at any time after Party A has commenced the New Business and within the Non-competition Period, Party B shall have the right (but not the
obligation) to submit a request to Party A for the acquisition of all or any part of the New Business or any assets relating thereto, all at its sole discretion. In such case, Party A shall have the obligation to take any and all requisite actions,
including but not limited to, executing relevant agreements and conducting relevant filings, to assist Party B in consummating such acquisition in accordance with applicable laws. 

  

 3 

 Article 4 Equal Responsibilities 
 Unless otherwise specified herein, all the undertakings of Party A under this Agreement are made on behalf of itself and its Affiliates. Any reference to Party A in this Agreement, unless otherwise specified, shall
include the reference to Party A and its Affiliates. 
 Mr. Wang Shengcheng, Ms. Zhang Kun, Mr. Wang Zhiyi and Ms. Zhang Wenkai shall be
severally and jointly liable for Party A’s non-competition obligations hereunder. 
 Article 5 Exclusion 
 Party A’s conduct of any business other than the Business during the Non-competition Period shall not be subject to the terms and conditions set forth herein.

 Article 6 Representations, Warranties and Covenants 
 Each of Party A and Party B hereby represents, warrants and covenants to the other as follows: 
 (i) It has
full power and authority (including but not limited to the receipt of the required approvals, consents or permits from the competent governmental authorities, or the required authorizations from relevant Affiliates) necessary for the execution and
performance of this Agreement; 
 (ii) This Agreement shall , upon being executed and affixed with the seal hereunto in the manners specified
herein, become effective and binding and enforceable in accordance with the terms hereof; 
 (iii) None of the provisions in this Agreement
violates any of the bylaws or organizational documents of such party or any of the PRC laws or regulations; and 
 (iv) The execution and
performance of this Agreement will not constitute a breach of or a default under any existing contract or agreement or arrangement to which such party is a party or by which such party is bound. 
 Article 7 Force Majeure 
 If any party fails to
perform its obligations pursuant to the terms and conditions agreed hereunder due to any force majeure event, which is unforeseeable and the occurrence and consequences of which is inevitable and beyond its control, such party shall
(i) promptly notify the other party of such force majeure event, and (ii) provide the other party with details thereof and valid documents supporting the reasons that all or part of the relevant obligations hereunder is unable to be
performed or the performance of which has to be delayed, within fifteen (15) days from the occurrence of such force majeure event. The parties shall, according to the extent of the affection of the force majeure event on the performance of the
obligations in question, negotiate to decide whether to suspend or delay the performance of such obligation or partially release the relevant party from the performance of the same. 
  

 4 

 Article 8 Confidentiality 
 Unless otherwise provided or required by applicable laws or competent regulatory authorities, neither party may make any announcement or provide or disclose any material or information concerning the business of the
other party or the matters referred to herein to any corporation, company, organization or individual without written consent of the other party. 
 Article 9 Assignment 
 Neither party may assign any of its rights or obligations hereunder to any third party without prior written consent
of the other party. 
 Article 10 Amendment, Waiver 
  

	10.1	This Agreement may not be amended or modified except by an instrument in writing signed by each party hereto. 

  

	10.2	Any consent, waiver or change made by a party hereto with respect to an event shall only be applicable to such event and not be construed as a consent, waiver or change with respect
to any subsequent event of similar nature, unless with express written consent of such party. 

  

	10.3	Unless otherwise provided by applicable laws, the failure of either party to exercise or delay by either party in exercising any of its rights, authority or privilege hereunder
shall not be deemed a waiver of any of such rights, authority or privilege, and partial exercise of such rights, authority or privilege shall not impede the future exercise of the same. 

 Article 11 Notices 
  

	11.1	Any notice or other communications (“Notice”) sent by a party pursuant to this Agreement shall be made in writing and written in Chinese. 

  

	11.2	All Notices required or permitted hereunder shall be given or made by delivery in person, by a courier service or by facsimile, and shall be deemed effectively given: (a) upon
personal delivery to the party hereto to be notified; (b) when sent by a courier service, three (3) days following the date shown on the postmark, (c) when sent by confirmed facsimile, upon written confirmation of receipt.

  

 5 

	11.3	All Notices shall be sent to the parties hereto at the following addresses: 

 If to Mr. Wang Shengcheng, Ms. Zhang Kun, Mr. Wang Zhiyi or Ms. Zhang Wenkai: 
  

			
	Address: F/6, Tower B, Corporate Square, 35 Jinrong Avenue, Xicheng District, Beijing
	
	Postal code: 100032
	
	Telephone: 86-10-8809 1080

 If to Mass Media & Universal International Advertising Company Ltd.: 
  

			
	Attention: Xing Haiyan
	
	Address: 1014B, Main Building of Tian’an Cyber Times Tower, Chegongmiao Road, Futian District, Shenzhen
	
	Postal code: 518040
	
	Telephone: 86-755-8347-4625

 Article 12 Governing Law and Dispute Resolution 
 This Agreement shall be governed by, construed and enforced in accordance with the PRC law. Any dispute arising out of the validity, interpretation or performance of
this Agreement shall be first settled through friendly negotiation. In event that the dispute fails to be settled through negotiation within thirty (30) days from the date of occurrence of such dispute, either party may bring a lawsuit to the
competent people’s court. 
 Article 13 Effectiveness and Others 
  

	13.1	This agreement shall become effective upon the execution by Party A and the legal representative or authorized representative of Party B. 

  

	13.2	This agreement is severable. If any term or other provision of this Agreement is illegal or incapable of being enforced, all other terms and provisions of this Agreement shall
nevertheless remain in full force and effect. 

  

	13.3	This Agreement may be executed in five (5) counterparts, each of which shall be original, with each party to hold one (1). Each original counterpart shall have the same legal
effect. 

 [Signature Page follows] 
  

 6 

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

			
	By:	 	 /s/ Wang Shengcheng

		 	Wang Shengcheng
		
	Date:	 	
		
	By:	 	 /s/ Zhang Kun

		 	Zhang Kun
		
	Date:	 	
		
	By:	 	 /s/ Wang Zhiyi

		 	Wang Zhiyi
		
	Date:	 	
		
	By:	 	 /s/ Zhang Wenkai

		 	Zhang Wenkai
		
	Date:	 	

 Mass Media & Universal International Advertising Company Ltd. (to be affixed with company seal) 
  

			
	By:	 	 /s/ Zhang Kun

	Title:	 	Authorized representative/legal representative
		
	Date:

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