Document:

EX-4.46

Exhibit 4.46

English Translation

Equity Pledge Agreement

THIS EQUITY PLEDGE AGREEMENT (“this Agreement”) is entered into among the following parties in
Beijing on April 1, 2008:

	 	 	 
	Party A:

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

	 	Fong Zhonghua, Hong Tao
	 	 	 
	Party C:

	 	Beijing Yuehang Digital Media Advertising Co., Ltd.

WHEREAS:

	(1)	 	Party A and Party C signed the Technology Development Agreement and the Technology Support
and Service Agreement on April 1, 2008;
	 
	(2)	 	On January 7, 2008, Party A and Party B signed the Loan Agreement (collectively with the
Technology Development Agreement and the Technology Support and Service Agreement shall be
referred to hereinafter as “Master Contracts”);
	 
	(3)	 	Fong Zhonghua and Hong Tao respectively holds 80% and 20% of equity interests in Party C.
Party B agrees to guarantee the payment obligations under the Master Contracts that it had
signed with Party C by means of an equity pledge.

NOW, THEREFORE, Party A, Party B and Party C, through friendly negotiations, hereby agree on and
promise to abide by the following terms:

	1.	 	Pledge
	 
	 	 	Fong Zhonghua and Hong Tao agree to pledge all their respective 80% and 20% equities in Party
C (“Pledged Equity”) to Party A, as a guaranty for the performance of obligations by Party B
and Party C under the Master Contracts.
	 
	2.	 	Term of Pledge
	 
	2.1	 	The pledge under this Agreement shall become effective on the date when the equity pledge is
recorded in Party C’s register of shareholders.
	 
	2.2	 	After the guaranteed liabilities under the Master Contracts are fully repaid and Party B and
Party C no longer undertake any obligations under the Master Contracts, this Agreement is
terminated. So far as reasonably practicable, Party A shall assist in undergoing necessary
procedures so as to discharge the pledge of equity.
	 
	2.3	 	During pledge, if Party B and Party C fail to perform its obligations under any Master
Contract, Party A shall be entitled to dispose of right of pledge pursuant to the provisions
of this Agreement.

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	3.	 	Scope of Pledge Guarantee
	 
	 	 	The guaranty scope of pledged equity under this Agreement covers any arrear, payment,
liquidated damages, compensation and expenses from realization of principal claims and right
of pledge payable but unpaid by Party B and Party C to Party A under the Master Contracts.
	 
	4.	 	Registration
	 
	4.1	 	Party B undertakes to Party A that its execution of this Agreement and performance of the
obligations under this Agreement has obtained and/or will obtain the consent of Party C’s
shareholders’ meeting and the equity pledge under this Agreement will be recorded in Party C’s
register of shareholders. Party C agrees to render assistance. Party B and Party C shall
deliver the certificates of Party B’s capital contributions to Party C and register of
shareholders to Party A for keeping on the date of this Agreement.
	 
	4.2	 	The Parties agree that they will try to handle and cause the registration of the pledge under
this Agreement with the Industrial and Commercial Administration of Party C’s place of
registration. The Parties confirm that the failure to register the pledge under this Agreement
with the Industrial and Commercial Administration of Party C’s place of registration after the
execution of this Agreement will not affect the validity of this Agreement, unless such
registration is mandatory as specified by laws.
	 
	5.	 	Yield
	 
	 	 	Within the period of pledge, Party A shall be entitled to the yield arising from the Pledged
Equity, including, but not limited to, the bonus, dividends, profit distribution,
distributable profits, arising from or received with respect to the Pledged Equity.
	 
	6.	 	Representations of Party B

	 	6.1	 	Party B is the owner of the equity.
	 
	 	6.2	 	Party B has not created any other security interest or third-party interests on
the Pledged Equity except the pledge under this Agreement.
	 
	 	6.3	 	Within the term of this Agreement, Party B undertakes to Party A that

	 	6.3.1	 	Without Party A’s prior written consent, it will not transfer the
Pledged Equity or create or allow to be created any security interest on the
Pledged Equity, unless otherwise agreed upon by both parties.
	 
	 	6.3.2	 	It will comply with all the laws and regulations with respect to the
pledge of rights; present to Party A the notices, orders or suggestions with
respect to the right of pledge issued or made by the competent authority within
five (5) days upon receipt thereof; and comply with such notices, orders or
suggestions; or make an objection to or a statement on the foregoing matters at
the reasonable request of Party A or with the

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	 	 	 	consent from Party A.
	 
	 	6.3.3	 	It will not cause Party C’s other shareholders not to distribute
Party C’s income.
	 
	 	6.3.4	 	It will not do or permit to be done any act that may adversely
affect Party A’s interests under the Amended Master Contracts and this Agreement
or the Pledged Equity.

	 	6.4	 	Party B agrees that, for the purpose of this Agreement, Party A is entitled to
dispose of right of pledge in the manner as specified in this Agreement and Party A’s
right to exercise the right of pledge obtained from this Agreement will not be
interrupted or hindered by Party B or any of its successors or principals or any other
person through legal proceedings.
	 
	 	6.5	 	Party B warrants to Party A that, in order to protect or improve the guaranty for
the repayment of the expenses under the Master Contracts in this Agreement, Party B will
execute in good faith and cause other persons interested in the right of pledge to
execute all right certificates and contracts relating to the implementation of this
Agreement as required by Party A and/or perform and cause other interested persons to
perform the acts relating to the implementation of this Agreement as required by Party A
and provide convenience for the exercise of the rights and authority granted to Party A
under this Agreement.
	 
	 	6.6	 	Party B warrants to Party A that, in order to ensure Party A’s interests, Party B
will comply with and perform all warranties, undertakings, agreements, representations
and conditions. Where Party B does not perform, in whole or in part, its warranties,
undertakings, agreements, representations or conditions, Party B shall compensate all
losses thus incurred to Party A.

	7.	 	Disposal of the Pledged Equity
	 
	7.1	 	Party A and Party B hereby agree that, in case of any default, Party A shall be entitled to
exercise all the remedies and powers under PRC laws, transaction agreement and this Agreement
upon giving a written notice to Party B, including, but not limited to, auctioning or selling
the Pledged Equity and being first compensated with the proceeds from such disposal. Party A
shall not be liable for any loss arising from its reasonable exercise of such rights and
powers.
	 
	7.2	 	Party A shall be entitled to designate in writing its lawyer or other agent to exercise any
or all said rights and powers and Party B shall not raise any objection thereto.
	 
	7.3	 	The reasonable expenses of Party A when it exercises any or all said rights and powers shall
be borne by Party B. Party A shall have the right to deduct such expenses from the payments
obtained by Party A from the exercise of its rights and powers.
	 
	7.4	 	The payments obtained by Party A from the exercise of its rights and powers shall

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	 	 	be used in the following order:

	 	1)	 	Pay all the expenses arising out of the disposal of the Pledged Equity and Party
A’s exercise of its rights and powers (including the remunerations for its lawyer and
agent);
	 
	 	2)	 	Pay the taxes payable with respect to the disposal of the Pledged Equity; and
	 
	 	3)	 	Pay the guaranteed liabilities to Party A.

	 	 	If there is any balance after the above deductions, Party A shall return such balance to
Party B or the other person which is entitled to such balance in accordance with law or
regulations or place such balance under escrow with the notary public office in the place
where Party A is located (all the expenses arising therefrom shall be borne by Party B).
	 
	7.5	 	Party A shall be entitled to exercise any of its remedies simultaneously or successively.
Before Party A exercises the right to auction or sell the Pledged Equity under this Agreement,
it does not need to first exercise other remedies.
	 
	8.	 	Transfer
	 
	8.1	 	Without Party A’s prior written consent, Party B shall have no right to donate or transfer
any of its rights and obligations under this Agreement, excluding the Call Option Agreement
signed by Party B and Party A.
	 
	8.2	 	This Agreement shall bind upon Party B and its successors and inure to Party A and its
successors and assigns.
	 
	8.3	 	Party A may, at any time, transfer any or all of its rights and obligations under the Master
Contracts to the person designated by it (natural person/legal person). In this case, the
transferee shall take over Party A’s rights and obligations under this Agreement as if it is a
party to this Agreement. When Party A transfers its rights and obligations under the Master
Contracts, at its request, Party B shall execute the related agreements and/or documents with
respect to such transfer.
	 
	8.4	 	If the above transfer results in the change of pledgee, two new parties to pledge shall sign
a new pledge agreement.
	 
	9.	 	Confidentiality
	 
	9.1	 	Both parties agreed that all information relating to this Agreement is confidential.
Neither party shall disclose such information to any third party except its officers, directors,
employees, agents and professional consultants, albeit that no consents are required from the
opposite parties if disclosure of such information is mandated by law.
	 
	9.2	 	This article shall survive the change, cancellation or termination of this Agreement.
	 
	10.	 	Defaulting Liabilities
	 
	 	 	Both parties have the obligation to fully perform this Agreement. Where either party

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	 	 	fails to perform any of its obligations hereunder, or any of its representations or
warranties hereunder is materially untrue or inaccurate, such party shall be deemed to
default under this Agreement and shall be held liable for all the losses thus incurred to the
other party.
	 
	11.	 	Force Majeure
	 
	11.1	 	Force Majeure refers to
objective situations that are not
foreseeable, avoidable and
surmountable. If either party becomes
unable to perform this Agreement due
to force majeure, its obligation may
be waived partly or fully, depending
on the impact of the force majeure. If
the force majeure occurs after any
delay of performance of obligations,
the obligation shall not be waived.
11.2 Should either party be prevented
from performing this Agreement due to
force majeure, the prevented party
shall without any delay notify the
other party in order to mitigate any
loss caused to the other party. The
prevented party shall also provide
written proof of the force majeure
within 15 working days of the force
majeure.
	 
	12.	 	Governing Law
	 
	 	 	The execution, effectiveness, interpretation, performance, amendment, termination and dispute
resolutions of this Agreement shall be governed by the law of the Peoples of Republic of
China.
	 
	13.	 	Dispute Resolution
	 
	 	 	Any dispute arising from the performance of this Agreement shall be solved by both parties
through friendly negotiations. In case no resolution can be reached, such dispute shall be
referred to Beijing Arbitration Commission for arbitration in accordance with its arbitration
rules. Venue of arbitration shall be Beijing and arbitral award shall be final.
	 
	14.	 	Supplementary Provisions
	 
	14.1	 	This Agreement shall come into effect as of the date of signing by both parties.
	 
	14.2	 	This Agreement is executed in four (4) originals in Chinese, one (1) original for each party.
All the original copies shall have the same legal effect.

[No text below]

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

Authorized representative (signature): /s/ Guo Man

Name: Guo Man

Title:

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

Party B:

Signature: /s/ Fong Zhonghua

Signature: /s/ Hong Tao

Party C: Beijing Yuehang Digital Media Advertising Co., Ltd.

Authorized representative (signature): /s/ Fong Zhonghua

Name: Fong Zhonghua

Title:

Common seal: Beijing Yuehang Digital Media Advertising Co., Ltd. (Seal)

6EX-4.47

Exhibit 4.47

English Translation

Call Option Agreement

THIS CALL OPTION AGREEMENT (“this Agreement”) is entered into among the following parties in
Beijing on April 1, 2008:

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

Party B: Fong Zhonghua, Hong Tao (hereafter individually a “Shareholder” and collectively the
“Shareholders”)

Party C: Beijing Yuehang Digital Media Advertising Co., Ltd.

WHEREAS:

	(1)	 	Fong Zhonghua and Hong Tao are the citizens of the People’s Republic of China (“China”, for
the purpose of this Agreement, excludes Hong Kong Special Administrative Region, Macao Special
Administrative Region and Taiwan), who respectively 80% and 20% equity interests in Party C.

Now therefore, the Parties hereby enter into this Agreement with respect to Party A purchasing the
equities held by the Shareholders in Party C, on and subject to the terms and conditions as set
forth below:

	1.	 	Purchase and Sale of Equity
	 
	1.1	 	Granting of Rights
	 
	 	 	The Shareholders hereby irrevocably grant to Party A an option (“Call Option”) to purchase or
cause any person or persons designated by Party A (“Designee”) to purchase from the
Shareholders at any time, to the extent permitted by PRC laws and according to the steps as
determined by Party A at its own discretion, all or part of their equity in Party C (“Target
Equity”) at the price specified in Article 1.3 of this Agreement. The Shareholders shall not
sell, sell by offer, transfer, donate or pledge the equity to any other third person other
than Party A and/or the Designee. Party C hereby agrees to the granting of the Call Option by
the Shareholders to Party A and/or the Designee. The “person” set forth in this article and
this Agreement means an individual, corporation, joint venture, partnership, enterprise,
trust or a non-corporation organization.
	 
	1.2	 	Exercising Steps
	 
	 	 	Subject to PRC laws and regulations,

	 	1.2.1	 	When this Agreement is signed, Party B shall agree that it will deliver the
Equity Transfer Contract signed as per the format in Annex 1 below and the Letter of
Consent signed as per Annex 2 below with respect to equity transfer to Party A for
keeping.

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	 	1.2.2	 	If Party A decides to purchase the Target Equity pursuant to Article 1.1 hereof,
it shall give a written notice to Party B, indicating the percentage of the Target
Equity to be purchased and the identity of purchaser. Party B and Party C shall, within
seven (7) days of receiving the notice from Party A, provide all the materials and
documents necessary to handle equity transfer.
	 
	 	1.2.3	 	Except the notice as stated in Article 1.2.2, there are no other preconditions
or additional conditions or procedures for Party A’s exercise of the option to purchase
the Target Equity.

	1.3	 	Purchase Price

	 	1.3.1	 	In the event that applicable PRC laws and regulations require appraisal of the
Target Equity or have other restrictions on the price of the Target Equity at the time
when Party A exercises the Call Option, the Parties agree that the Purchase Price of the
Target Equity shall be the lowest price permitted by applicable laws.
	 
	 	1.3.2	 	In the event that Party A opts to purchase part of the Target Equity, the
Purchase Price shall be adjusted on the basis of the ratio of the purchased equity to
all the equity of Party C.

	1.4	 	Transfer of the Target Equity
	 
	 	 	At each exercise of the Call Option:

	 	1.4.1	 	Each Shareholder shall cause Party C to convene a shareholders’ meeting in time,
at which to adopt a resolution on the transfer by the Shareholders of the Target Equity
to Party A and/or the Designee, and cause other Shareholders to waive the right of first
refusal to the Target Equity in writing;
	 
	 	1.4.2	 	Each Shareholder shall, subject to the terms and conditions of this Agreement
and the Purchase Notice related to the Target Equity, enter into an equity transfer
contract with Party A and/or the Designee (as applicable) for each transfer;
	 
	 	1.4.3	 	The related Parties shall execute all other requisite contracts, agreements or
documents, obtain all requisite government approvals and consents and take all necessary
actions; without any security interest, transfer the valid ownership of the Target
Equity to Party A and/or the Designee, and cause Party A and/or the Designee to be the
legal owner of the Target Equity. In this Article and this Agreement, “Security
Interest” includes guaranty, mortgage, pledge, third-party right or interest, any share
option, right of acquisition, right of first refusal, right of set-off, retention of
title or other security arrangements, but excluding any security interest arising under
the Equity Pledge Agreement signed by Party A, Shareholders and Party C on April 1,
2008.

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	1.5	 	Payment
	 
	 	 	The payment of the Purchase Price shall be subject to the negotiations between Party A and/or
the Designee and the Shareholders according to the laws applicable at the exercise of the
Call Option.
	 
	2.	 	Undertakings Relating to Equity
	 
	2.1	 	Undertakings of Party C
	 
	 	 	Shareholders and Party C hereby undertake that:

	 	2.1.1	 	They will not supplement, amend or modify Party C’s articles of association in
any way, or increase or decrease its registered capital, or change its shareholding
structure by other means without Party A’s prior written consent;
	 
	 	2.1.2	 	Based on good financial and commercial standards and practices, Party C will
maintain its existence, prudently and effectively deal with its businesses and affairs
and make its best efforts to ensure that it continuously has the permits, licenses and
approvals necessary for its business operations and that these permits, licenses and
approvals are not cancelled; make its best efforts to keep its existing organization
structure and senior management personnel unchanged and continue to maintain its
relations with customers so as to ensure that the exercise of the Call Option by Party A
has no material adverse influence on Party C’s goodwill and operations;
	 
	 	2.1.3	 	Without Party A’s prior written consent, Party C will not sell, transfer,
mortgage or otherwise dispose of, or cause any other security interest to be created on,
any of Party C’s legal or beneficial rights on assets, business or income at any time
after the date of this Agreement;
	 
	 	2.1.4	 	Without Party A’s prior written consent, Party C will not distribute dividends
to its shareholders in any way. However, Party C shall promptly distribute all or part
of its distributable profits to its shareholders upon Party A’s request;
	 
	 	2.1.5	 	If Party A exercises the Call Option pursuant to the provisions of this
Agreement, Party C will do its best to obtain all the government approvals and other
consents (if applicable) necessary for the completion of equity transfer as early as
possible;
	 
	 	2.1.6	 	At Party A’s request, they will appoint the person nominated by Party A as the
director of Party C.

	2.2	 	Undertakings of the Shareholders
	 
	 	 	The Shareholders hereby undertakes:

	 	2.2.1	 	Not to sell, transfer, mortgage or otherwise dispose of, or cause any other
security interest to be created on, the legal or beneficial right of any Target Equity
at any time after the date of this Agreement without Party A’s prior written consent,
except the right of pledge under the Equity Pledge

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	 	 	 	Agreement;
	 
	 	2.2.2	 	Without Party A’s prior written consent, at the shareholders’ meeting of Party
C, not to agree to, support or execute a resolution on selling, transferring, mortgaging
or otherwise disposing of, or cause any other security interest to be created on, its
legal or beneficial right of any Target Equity, except to Party A or the Designee;
	 
	 	2.2.3	 	Without Party A’s prior written consent, at the shareholders’ meeting of Party
C, not to agree to, support or execute a resolution on approving Party C to be merged or
consolidated with, acquire or invest in any person;
	 
	 	2.2.4	 	To promptly inform Party A of any litigation, arbitration or administrative
proceedings pending or threatened against its Target Equity;
	 
	 	2.2.5	 	To cause the shareholders’ meeting to approve the transfer of the Target Equity
under this Agreement;
	 
	 	2.2.6	 	To execute all necessary or appropriate documents, take all necessary or
appropriate actions and bring all necessary or appropriate claims or make all necessary
and appropriate defenses against all claims in order to maintain its ownership over the
Target Equity;
	 
	 	2.2.7	 	At Party A’s request, to appoint the person nominated by Party A as the director
of Party C;
	 
	 	2.2.8	 	Upon Party A’s request as may be made from time to time, to transfer the Target
Equity unconditionally and promptly to Party A and/or the Designee at any time and cause
other Shareholders to waive the right of first refusal to the Target Equity;
	 
	 	2.2.9	 	To fully comply with the provisions of this Agreement and other agreements
entered into by and among Shareholders, Party C and Party A , to perform all obligations
under such agreements and not to do any act or omission that affects the validity and
enforceability of such agreements.

	3.	 	Assignment of Agreement
	 
	3.1	 	The Shareholders and Party C shall not transfer any of their rights and obligations under
this Agreement to any third party without Party A’s prior written consent.
	 
	3.2	 	The Shareholders and Party C hereby agree that Party A may, when necessary, transfer all its
rights and obligations under this Agreement to a third party without the consent of
Shareholders and Party C. Party A shall only need to notify Shareholders and Party C when
such transfers occur. No prior written consent of Shareholders and Party C is required.
	 
	4.	 	Guaranty
	 
	 	 	If the Shareholders satisfy the relevant provisions of this Agreement, Party A agrees to act
as Party C’s performance guarantor in any contract, agreement or

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	 	 	transaction signed by Party C with any other third party with respect to Party C’s business
operations to provide a comprehensive performance guaranty for Party C to perform such
contract, agreement or transaction. In addition, Party A agrees to provide the loans for
Party C in the manner permitted by laws when necessary to meet Party C’s business needs or
solve Party C’s possible difficulty in fund turnover.
	 
	5.	 	Confidentiality
	 
	5.1	 	Both parties agreed that all information relating to this Agreement is confidential.
Neither party shall disclose such information to any third party except its officers, directors,
employees, agents and professional consultants, albeit that no consents are required from the
opposite parties if disclosure of such information is mandated by law.
	 
	5.2	 	This article shall survive the change, cancellation or termination of this Agreement.
	 
	6.	 	Defaulting Liabilities
	 
	 	 	Both parties have the obligation to fully perform this Agreement. Where either party fails
to perform any of its obligations hereunder, or any of its representations or warranties
hereunder is materially untrue or inaccurate, such party shall be deemed to default under
this Agreement and shall be held liable for all the losses thus incurred to the other party.
	 
	7.	 	Force Majeure
	 
	7.1	 	Force Majeure refers
to objective situations that
are not foreseeable, avoidable
and surmountable. If either
party becomes unable to
perform this Agreement due to
force majeure, its obligation
may be waived partly or fully,
depending on the impact of the
force majeure. If the force
majeure occurs after any delay
of performance of obligations,
the obligation shall not be
waived.
	 
	7.2	 	Should either party be
prevented from performing this
Agreement due to force
majeure, the prevented party
shall without any delay notify
the other party in order to
mitigate any loss caused to
the other party. The prevented
party shall also provide
written proof of the force
majeure within 15 working days
of the force majeure.
	 
	8.	 	Annex
	 
	8.1	 	When the Target Equity is
transferred, if the format of the
equity transfer contract as set forth
in Annex 1 to this Agreement needs to
be amended in accordance with PRC laws
and regulations until then, the
Parties shall make relevant amendments
in good faith and in accordance with
the requirements of PRC laws and
regulations.
	 
	8.2	 	The annex attached hereto shall
form an integral part of this
Agreement and have the same legal
effect as the main body of this
Agreement.
	 
	9.	 	Governing Law

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	 	 	The execution, effectiveness, interpretation, performance, amendment, termination and dispute
resolutions of this Agreement shall be governed by the law of the Peoples of Republic of
China.
	 
	10.	 	Dispute Resolution
	 
	 	 	Any dispute arising from the performance of this Agreement shall be solved by both parties
through friendly negotiations. In case no resolution can be reached, such dispute shall be
referred to Beijing Arbitration Commission for arbitration in accordance with its arbitration
rules. Venue of arbitration shall be Beijing and arbitral award shall be final.
	 
	11.	 	Supplementary Provisions
	 
	11.1	 	This Agreement shall go into effect as of the date of signing by the Parties. This Agreement
shall be terminated after Party A exercises the call option over all Party C’s equity pursuant
to the provisions of this Agreement, unless prematurely terminated in accordance with the
provisions of this Agreement or the other related agreement signed by the Parties.
	 
	11.2	 	Where Party A or Party C ceases to operate because its business term expires (including any
extension thereof) or because of other reason within the time as set forth in Article 11.1,
this Agreement shall be terminated simultaneously, unless Party A has transferred its rights
and obligations pursuant to Article 3.2.
	 
	11.3	 	This Agreement is executed in four (4) originals in Chinese, one (1) original for each Party.
All originals shall have the same legal effect.

[No text below]

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

Authorized representative (signature): /s/ Guo Man

Name: Guo Man

Title:

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

Party B:

Signature: /s/ Fong Zhonghua

Signature: /s/ Hong Tao

Party C: Beijing Yuehang Digital Media Advertising Co., Ltd.

Authorized representative (signature): /s/ Fong Zhonghua

Name:

Title:

Common seal: Beijing Yuehang Digital Media Advertising Co., Ltd. (Seal)

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[Annex 1]

Equity Transfer Contract

This Equity Transfer Contract (“this Contract”) is entered into among the following parties in
Beijing, China:

The Transferor: Fong Zhonghua

The Transferee:           

Through friendly negotiations, it is hereby agreed by both parties with respect to equity transfer
as follows:

	1.	 	The Transferor agrees to transfer its ___% equity in Beijing Yuehang Digital Media Advertising
Co., Ltd. (“Target Equity”) to the Transferee, and the Transferee agrees to accept the Target
Equity.
	 
	2.	 	Upon completion of equity transfer, the Transferor will no longer have any right or
obligation as a shareholder of Beijing Yuehang Digital Media Advertising Co., Ltd. with
respect to the Target Equity, and the Transferee will have the rights and obligations as a
shareholder of Beijing Yuehang Digital Media Advertising Co., Ltd. with respect to the Target
Equity.
	 
	3.	 	In case of anything not covered herein, both parties may sign a supplementary agreement.
	 
	4.	 	This Contract shall become effective as of the date of signing by both parties.
	 
	5.	 	This Contract is executed in quadruplicate, one (1) copy for each party and the other copies
to be used to handle industrial and commercial changes.

	 	 	 
	The Transferor: Fong Zhonghua

	 	The Transferee:
	 	 	 
	Signature:

	 	Authorized representative (signature):
	 	 	 
	Date:

	 	Name:
	 

	 	Title:
	 

	 	Common seal
	 

	 	Date:

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[Annex 1]

Equity Transfer Contract

This Equity Transfer Contract (“this Contract”) is entered into among the following parties in
Beijing, China:

The Transferor: Hong Tao

The Transferee:           

Through friendly negotiations, it is hereby agreed by both parties with respect to equity transfer
as follows:

	1.	 	The Transferor agrees to transfer its ___% equity in Beijing Yuehang Digital Media Advertising
Co., Ltd. (“Target Equity”) to the Transferee, and the Transferee agrees to accept the Target
Equity.
	 
	2.	 	Upon completion of equity transfer, the Transferor will no longer have any right or
obligation as a shareholder of Beijing Yuehang Digital Media Advertising Co., Ltd. with
respect to the Target Equity, and the Transferee will have the rights and obligations as a
shareholder of Beijing Yuehang Digital Media Advertising Co., Ltd. with respect to the Target
Equity.
	 
	3.	 	In case of anything not covered herein, both parties may sign a supplementary agreement.
	 
	4.	 	This Contract shall become effective as of the date of signing by both parties.
	 
	5.	 	This Contract is executed in quadruplicate, one (1) copy for each party and the other copies
to be used to handle industrial and commercial changes.

	 	 	 
	The Transferor: Hong Tao

	 	The Transferee:
	 	 	 
	Signature:

	 	Authorized representative (signature):
	 	 	 
	Date:

	 	Name:
	 

	 	Title:
	 

	 	Common seal
	 

	 	Date:

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[Annex 2]

Letter of Consent

To: Beijing Yuehang Digital Media Advertising Co., Ltd.

As a shareholder of Beijing Yuehang Digital Media Advertising Co., Ltd., I hereby agree and
acknowledge as follows:

	1.	 	Agree that the other shareholders of Beijing Yuehang Digital Media Advertising Co., Ltd.
transfer their equities in Beijing Yuehang Digital Media Advertising Co., Ltd. to AirMedia
Technology (Beijing) Co., Ltd. or a third party designated by it;
	 
	2.	 	Agree to waive the right of first refusal when the other shareholders of Beijing Yuehang
Digital Media Advertising Co., Ltd. transfer their equities in Beijing Yuehang Digital Media
Advertising Co., Ltd. to AirMedia Technology (Beijing) Co., Ltd. or a third party designated
by it;
	 
	3.	 	Agree to execute or provide such documents as being necessary to handle equity transfer when
the other shareholders of Beijing Yuehang Digital Media Advertising Co., Ltd. transfer their
equities in Beijing Yuehang Digital Media Advertising Co., Ltd. to AirMedia Technology
(Beijing) Co., Ltd. or a third party designated by it.

This Letter of Consent shall become effective as of its signing date.

	 	 	 	 	 
	 	
 	 
	 	Signature: Fong Zhonghua

Date:

 	 
	 	 	 
	 	 	 
	 	 	 

10

 

	 	 	 	 	 

[Annex 2]

To: Beijing Yuehang Digital Media Advertising Co., Ltd.

As a shareholder of Beijing Yuehang Digital Media Advertising Co., Ltd., I hereby agree and
acknowledge as follows:

	4.	 	Agree that the other shareholders of Beijing Yuehang Digital Media Advertising Co., Ltd.
transfer their equities in Beijing Yuehang Digital Media Advertising Co., Ltd. to AirMedia
Technology (Beijing) Co., Ltd. or a third party designated by it;
	 
	5.	 	Agree to waive the right of first refusal when the other shareholders of Beijing Yuehang
Digital Media Advertising Co., Ltd. transfer their equities in Beijing Yuehang Digital Media
Advertising Co., Ltd. to AirMedia Technology (Beijing) Co., Ltd. or a third party designated
by it;
	 
	6.	 	Agree to execute or provide such documents as being necessary to handle equity transfer when
the other shareholders of Beijing Yuehang Digital Media Advertising Co., Ltd. transfer their
equities in Beijing Yuehang Digital Media Advertising Co., Ltd. to AirMedia Technology
(Beijing) Co., Ltd. or a third party designated by it.

This Letter of Consent shall become effective as of its signing date.

	 	 	 	 	 
	 	
 	 
	 	
Signature: Hong Tao

Date:

 	 
	 	 	 
	 	 	 
	 	 	 
	 

11

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