Document:

exv10w3w3

EXHIBIT 10.3.3

Translation

CERTAIN INFORMATION (INDICATED BY ASTERISKS) IN THIS EXHIBIT HAS

BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND

EXCHANGE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN

REQUESTED WITH RESPECT TO THE OMITTED PORTION.

Exclusive Agency Agreement

for

Tianjin Satellite TV Advertisements

          Party A: Tianjin Television Station

          Party B: Qinghai Charm Advertising Co., Ltd.

          General Principles

          1. Party A and Party B enter into this Contract for the purpose of fostering an ever stronger
Tianjin Satellite TV and achieving win-win results during the course of development. All detailed
provisions governing this cooperation are being entered into by Party A and Party B in accordance
with the principle of fairness, reasonableness, trustworthiness and mutual sharing of benefits.

          2. Party A and Party B intend to abide by the philosophy of “scientific development” and
devote themselves to the brand building, program innovation and advertising operation of Tianjin
Satellite TV and thereby enhance its audience rating and influence and ensure a positive growth of
advertising revenues.

          3. Pursuant to the laws and regulations of the state and relevant stipulations, Tianjin
Satellite TV is a mass media organization of the Party and the Government and enjoys final
programming and review and approval rights in respect of its broadcasting platforms.

          4. The Parties acknowledge that matters not covered under this Contract shall be dealt with in
accordance with the foregoing principles.

          Article 1

          1.1 Subject matter of Contract: The right to act as the exclusive agent in respect of Tianjin
Satellite TV Category 1 advertisements (exclusive of shopping ads), which include without
limitation:

          (1) All Category 1 hard-sell advertisements; and

          (2) All Category 1 soft-sell advertisement.

          1.2 Term of Representation: January 1, 2009- December 31, 2011.

          1.3 Extension of the Right of Representation

          The Parties hereby confirm that so long as Party B is able to achieve the annual revenue
targets jointly determined by the Parties, Party B shall have the right to act as the exclusive
general agent in respect of Tianjin Satellite TV Category 1 advertisements, i.e., Party B shall be
automatically granted the right of acting as the exclusive agent for the following year if Party B
fulfills the total advertising revenue target set by the Parties for the current year; and this

 

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principle shall apply continuously until 2011, at the end of which the Parties may continue to
extend their cooperation by mutual agreement if such cooperation has proved successful, and if the
Parties intend to extend such cooperation.

          1.4 Contracted quota for Advertising Operation Revenue

          The contracted quota for the 2009 advertising operation revenue shall be RMB *****. The
contract quotas for 2010 and 2011 shall increase between ***** % and *****% every year. The Parties
shall by December 1 of each year determine the growth rate of the following year on the basis of
the operating results of the current year.

          1.5 Mechanism of Operation

          (1) Party B shall set up a branch entity (“ Party B’s Branch”) in Tianjin, which shall assume
full-process responsibility for the contracted Tianjin TV advertising operations.

          (2) At the request of Party B, Party A will dispatch personnel of its advertising department
to participate in the advertising sales work for which Party B acts as the exclusive agent. Such
personnel shall abide by the company regulations and rules of Party B and shall work in conjunction
with the business team of Party B and jointly endeavor to achieve the advertising operation quotas.

          1.6 Fee for Agency Operations

          (1) Party A shall refund *****% of the contracted quota to Party B’s branch as its daily
operating expense and the operating expense to be refunded in 2009 shall be RMB*****. The operating
expenses for 2010 and 2011 shall be refunded in accordance with the same principle.

          (2) Form of Refund: The refund shall be made on a monthly basis by deducting the relevant
amount from the contracted quota paid to Party A each month.

          1.7 Bonus

          If Party A has achieved, in accordance with the Contract, the contracted quota jointly set by
the Parties for the current year, Party A shall distribute to Party B a “Performance Bonus” equal
to *****% of the contract quota, which shall be paid out by the 30th day of January of
the following year. If, during the performance of this Contract, the Parties have adjusted the
contracted quota and Party B has paid on the basis of the adjusted contract quota, or if there
occurs a circumstance which entitles Party B to reduce the contracted quota in accordance with this
Contract, Party B shall still be deemed to have achieved, in accordance with this Contract, the
contracted quota set by the Parties and Party A shall pay out the bonus in accordance with this
provision.

          Article 2 Specific Details on the Advertising Resources under Operation by the Agent

          2.1 Party B, in the capacity of exclusive general agent, shall be responsible for carrying out
the overall sales in respect of all of Category 1 advertisement forms (exclusive of TV shopping
programs) and supporting channels and program resources of Tianjin Satellite TV and shall act as
the sole operation outlet for such category of advertisements. During the term of this Contract,
without written consent of Party B, neither Party A nor its subordinated departments or companies
shall operate, sell or place in whatsoever manner any and all Category One advertisements
(exclusive of shopping ads) of Tianjin Satellite TV. Personnel of the advertising department of
Party A shall be responsible for the programming and broadcasting of, and provision of relevant
services for, the advertisements and shall participate in the operation, selling and servicing of
the advertisements.

 

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          2.2 Advertisement Forms

          The Category 1 advertisement forms of Tianjin Satellite TV (exclusive of TV shopping programs)
shall include, without limitation, all kinds of commercial advertisements, TV drama and movie
shows, program naming rights, screen corner advertisements, weather forecast (advertisements),
special broadcasting sponsorship, program cooperation sponsorship, and soft-sell advertisements
embedded in programs.

          2.3 All advertisement forms shall be broadcasted in accordance with relevant laws and
regulations of the state and relevant governmental authorities.

          2.4 Total advertising time length under Operation by the Agent

          In accordance with the relevant rules of the State Administration of Radio, Film and
Television governing the total length of advertising time and the share of advertising time slots,
the total daily advertising time length for Category 1 advertisements shall be ***** minutes, which
shall be distributed as follows within the current programming space:

          (1) 08:00-18:00 No less than ***** minutes;

          (2) 18:00-24:20 No less than ***** minutes;

          (3) In keeping with the spirit of enhancing the brand image and overall audience rating of the
satellite channel, after Party A launches new program spaces, the Parties will determine, through
mutual consultations, an optimal brand composition plan for advertisement broadcasting in light of
the actual circumstances of the advertisement operations of Tianjin Satellite TV.

          (4) If the advertising time provided by Party A fails to meet the total advertising time
length agreed above, Party A shall compensate Party B for the advertising revenue corresponding to
the relevant time resources by increasing the total advertising time of a subsequent period.

          Article 3 Agreements on Daily Advertising Operations

          3.1 Advertising Space

          Party A will by the end of November, 2008 prepare the channel programming schedule and the
basic advertising space for the year of 2009, in respect of which the Parties shall carry out
consultations and reviews in accordance with the principle of “enhance audience rating, facilitate
advertising revenue generation” and Party A shall have the final decision. Party A shall ensure
that the advertising space so determined shall be strictly implemented and shall, in principle,
give a 5 business days written notice to Party B of any required temporary adjustment to the
advertising space, provided that, in the event of any emergency, or any political task allocated by
superior authorities, or any other circumstances of force majeure, the Parties shall consult each
other for a solution and Party B shall demonstrate its full understanding in respect of the same.

          3.2 In principle, no programs, including TV dramas, shall be broadcasted with in-film
advertisements. Where such advertisements are necessary, prior written consent of Party B shall be
obtained and the relevant advertising revenue shall be calculated towards the contracted quota of
Party B and Party B shall have the right to directly deduct relevant amounts from the contracted
quota of the current month to be turned over by it to Party A. If , due to a political task, any
TV drama is required to be broadcasted with in-film advertisements, the Parties will consult each
other for a solution.

 

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          3.3 If, during the term of this Contract, Tianjin Satellite TV temporarily broadcasts
commercial and for-profit sports events or entertainment evening parties and thereby affects the
normal advertising revenue of Party B, Party B shall have the right to deduct the portion of the
revenue so affected from the contracted quota of the current month payable by Party B.

          3.4 The advertisement pricing and discount system of Tianjin Satellite TV shall be determined
by Party B with reference to market prices and shall be filed by Party B with Party A for record,
whereupon Party B shall be responsible for its implementation.

          3.5 If Party B intends to cease operating the exclusive general agency project with Tianjin
Satellite TV in the second year (i.e. 2010), it shall give Party A a 3 months prior written notice
(i.e. by September 30, 2009) and the Parties may terminate their cooperation at the end of the
current year if Party A has granted its consent thereto, provided that Party B shall be obligated
to ensure normal completion of the 2009 advertising agency operations and relevant work and shall
forfeit the performance security deposit if it fails to do so. The foregoing principle shall apply
to each of the future years in which Party B shall act as the general agent.

          3.6 If Party B fails to timely pay in full the 2010 performance security deposit by November
31, 2009, Party B shall be deemed to have automatically waived its 2010 exclusive right to
represent Tianjin Satellite TV in its advertising matters. The foregoing principle shall apply to
each of the future years in which Party B shall act as the general agent.

          Article 4 Agreements on Performance Security Deposit and Advertising Revenue Quota Payments

          4.1 Performance Security Deposit

          (1) From 2009 to 2011, the performance security deposit to be paid by Party B shall be equal
to *****% of the total agency operation revenue of the following year as agreed by the Parties.

          (2) Within 5 business days of execution hereof, Party B shall pay to Party A the 2009
performance security deposit for the general agency contract in an amount equal to *****% of the
agreed 2009 total agency operation revenues, or RMB *****.

          (3) From 2009 to 2011, Party B shall by November 31 of each year pay to Party A the difference
between the performance security deposit payable by Party B for the next year and the performance
security deposit already paid by Party B for the current year. Taken together, such difference and
the performance security deposit already paid by Party B shall constitute the performance security
deposit of Party B for the next year.

          (4) The performance security deposit shall be directly transferred from the account of Party B
into the designated account of Party A.

          (5) The account name, account number and opening bank of Party A shall be:

          (6) The account name, account number and opening bank of Party B shall be:

          (7) If a unilateral, material breach by Party B results in a complete inability to perform the
contract, Party B shall forfeit its performance security deposit. If Party B duly performs this
Contract until the expiry of this Contract (i.e. end of 2011), the performance security deposit of
Party B may be offset against the contracted quota of advertising revenue for the last month of
2011.

 

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          (8) If this Contract is terminated upon mutual agreement of the Parties, Party A shall refund
the performance security deposit to Party B within 15 days from the date of settlement by the
Parties of the advertising operation business.

          4.2 Payment of Advertising Revenue Quotas

          (1) Party B shall by the 25th day of each month pay to Party A, in advance, the
advertising revenue quota of the following month to Party A in an amount equal to 1/12 of the total
advertising revenue quota of the current year as agreed under this Contract, in accordance with the
following schedule:

          By December 25, 2008, payment of January 2009 advertising revenue in the amount of RMB *****;

          By January 25, 2009, payment of February 2009 advertising revenue in the amount of RMB *****;

          By February 25, 2009, payment of March 2009 advertising revenue in the amount of RMB *****;

          By March 25, 2009, payment of April 2009 advertising revenue in the amount of RMB *****;

          By April 25, 2009, payment of May 2009 advertising revenue in the amount of RMB *****;

          By May 25, 2009, payment of June 2009 advertising revenue in the amount of RMB *****;

          By June 25, 2009, payment of July 2009 advertising revenue in the amount of RMB *****;

          By July 25, 2009, payment of August 2009 advertising revenue in the amount of RMB *****;

          By August 25, 2009, payment of September 2009 advertising revenue in the amount of RMB *****;

          By September 25, 2009, payment of October 2009 advertising revenue in the amount of RMB *****;

          By October 25, 2009, payment of November 2009 advertising revenue in the amount of RMB *****;
and

          By November 25, 2009, payment of December 2009 advertising revenue in the amount of RMB *****.

          The foregoing figures are inclusive of the fee for agency operations, which may be deducted
from the above payable amounts.

          The monthly revenue quotas to be paid during the following two years shall be fixed in
accordance with the same principle on the basis of the respective contracted quotas to be newly
determined by the Parties. Party A shall issue to Party B an advertisement broadcasting payment
invoice on the date of receipt of the above advertising revenue payments.

          (2) Party B shall be deemed in breach and shall assume breach of contract liabilities if it
fails to pay in full any relevant advertising revenue quota 5 business days after its prescribed
payment date.

 

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          Article 5 Costs of Advertising Operations

          Party B, as the exclusive contractor of Category 1 advertisements (exclusive of TV shopping
programs) of Tianjin Satellite TV, shall solely assume the costs of advertising operations.

          Article 6 Programming and Broadcasting Review of Advertisements and Relevant Services

          6.1 During the term of this Contract, the broadcast programming of the advertisements shall be
governed by the Tianjin Satellite TV Programs and Advertising Space Arrangement to be determined by
the Parties through mutual consultations. In the event of a temporary space adjustment, the
advertising space shall be governed by the space arrangement of the current day, provided that
Party A shall be obligated to provide a 2 days written notice to Party B, so that Party B may
notify the advertisers. In the event of any urgent adjustment under extraordinary circumstances,
Party A shall notify Party B as soon as possible.

          6.2 In order to guarantee stable carrying-out of the advertising operation, Party A shall
ensure the stability of the advertising space. In the event of any space adjustment due to state
policy or political publicity campaigns, Party B shall unconditionally accept such adjustment,
provided that Party A shall seek to ensure that the total advertising time available to Party B
during the affected time slots shall remain unchanged. Space and advertising time slot adjustments
arising out of the space re-arrangement needs of Party A shall be discussed and considered by the
Parties, but Party A shall have the final decision.

          6.3 Party A shall be responsible to coordinate with Tianjin Satellite TV so that the
advertisements provided by Party B shall be broadcasted during the advertising time slots. If Party
B cannot timely put in place advertisements for Party A to broadcast during the relevant time
slots, Party A shall only have the right to broadcast non-profit promotional or publicity films and
public interest advertisements during such time slots. Party A shall be deemed in breach if it
broadcasts other advertisements or otherwise broadcasts for profit.

          6.4 Party B shall in principle provide the advertisement schedule 3 business days before the
date of broadcasting and shall provide the sample broadcasting tapes of advertisements 2 business
days in advance. Unless otherwise provided herein, Party A may not modify the sample tapes of
advertisements without consent of Party B.

          Article 7 Rights and Obligations of Party A

          7.1 Party A shall have the right to receive from Party B the mutually agreed advertising
revenue quota payments in accordance with the relevant payment provisions hereof.

          7.2 Party A shall be obligated to provide the advertisement broadcasting programming schedule
of Tianjin Satellite TV and furnish broadcasting certificates.

          7.3 Party A shall designate relevant personnel of Tianjin Satellite TV to assist Party B to
implement relevant matters related to advertisements hereunder.

          7.4 Party A undertakes that the purchase expenses for TV dramas will achieve a year-on-year
growth on the basis of the actually disbursed purchase expenses of 2008.

          7.5 Party A undertakes that there will be at least 3 large-event programs and that each
program will last at least one season. Party A further undertakes to actively promote each year
large-event programs in its key coverage areas, with at least 3 large events a year.

 

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          7.6 Party A undertakes to actively promote the landing of Tianjin Satellite TV around the
nation and thereby seeks to achieve a 5% year-on-year growth of covered population. For the purpose
of this provision, the coverage survey data published by China Mainland Marketing Research Company
in December of each year shall serve as the basis for the calculation of such covered population.

          7.7 Party A undertakes to actively bring innovations to its programs, enhance its audience
share in Tianjin City and around the country and achieve a year-on-year growth on the basis of the
audience share of 2008. For the purpose of this provision, the audience rating figures provided by
CSM Research shall serve as the basis for the calculation of such audience share figures.

          7.8 Party A undertakes to actively cooperate with the advertising operation and agency work of
Party B and shall refrain from modifying without authorization the advertising broadcasting
positions and forms which have been confirmed by Party B and its advertising clients, and where a
similar circumstance has occurred, Party A shall actively urge relevant departments to broadcast
the advertisements in accordance with the advertisement broadcasting schedule and order as
confirmed by Party B.

          7.9 Party A shall timely provide Party B with relevant program information so as to facilitate
the entry into of advertisement broadcasting contracts between Party B and its advertising clients.
In addition, Party A shall actively assist Party B to provide services to, and pursue claims
against, the advertising clients.

          7.10 If, due to governmental acts, fire, earthquake or other accidental events or natural
disasters beyond the control of Party A (force majeure events), the advertisements arranged for by
Party B cannot be broadcasted as expected, the Parties will consult each other on how to deal with
the losses caused thereby.

          7.11 Party A agrees to the participation by Party B in the planning of the program production,
introduction and programming and like work of Tianjin Satellite TV, provided that Party A shall
have the final decision.

          7.12 Party A shall be obligated to assist Party B to coordinate its relationship with the
governmental authorities of Tianjin so as to create a positive environment for the advertising
operations of Party B.

          7.13 The leadership of Party A shall be amenable to the publicity and promotion work carried
out by Party B for the purpose of strengthening the programs and advertising impact of Tianjin
Satellite TV by attending at least 3 times a year during the term of the contract large advertising
promotional events organized by Party B.

          Article 8 Rights and Obligations of Party B

          8.1 During the term of this Contract, Party B shall have the exclusive general right to
represent Tianjin Satellite TV in respect of its Category 1 advertisements (exclusive of shopping
ads), shall be entitled to independently exercise (through agency and other appropriate forms and
means) the advertising operation right as agreed by the Parties and prescribed by law (including
without limitation the right in relation to operation, sales and advertisement placement), and
shall have the right to receive relevant benefits, all in accordance with the provisions of this
Contract.

          8.2 During the term of this Contract, without consent of Party B, Party A shall not in
whatsoever form grant to any third party any right of acting as an advertising agent with

 

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respect to any or all of Category 1 advertisements of Tianjin Satellite TV. Otherwise, Party B
shall have the right to unilaterally terminate this Contract and Party A shall refund the
performance security deposit of Party B with interest.

          8.3 Party B shall be obligated to accomplish the advertisement release operations and shall
timely and fully pay to Party A the advertising revenue quota payments as agreed by the Parties.

          8.4 Party B shall be solely responsible for any and all economic and legal liabilities arising
out of any dispute or controversy with any third party during the course of its business
negotiation and advertisement release.

          8.5 Party B shall actively cooperate with Party A so as to ensure sound carrying-out of the
advertisement programming and broadcasting work and shall comply with the advertisement
broadcasting rules of Party A.

          8.6 Party B shall have the right to make recommendations as to the key programs (including TV
dramas) and key operation projects of Tianjin Satellite TV.

          8.7 During the term of the Contract, Party B shall be responsible for acting as the
advertising agent for Category 1 advertisements of Tianjin Satellite TV (exclusive of shopping ads)
and shall have the final decision with respect to the pricing and discounts of such Category 1
advertisements of Tianjin Satellite TV (exclusive of shopping ads).

          8.8 During the term of this Contract, Party B shall bear any economic losses arising out of
any penalty imposed by relevant authorities of the state on any advertisement provided by Party B.

          8.9 Party B shall be responsible for resolving any disputes arising out of any infringement of
any third party rights (including without limitation the reputation right, the portrait right,
privacy and intellectual property rights) by the content or expressive form of any advertisements
provided by Party B and shall assume relevant liabilities and indemnify Party A against losses
caused thereby.

          8.10 During the term of this Contract, Party B undertakes to comply with the following:

          (1) Other than matters in connection with the exclusive general agency in respect of Category
1 advertisements as specified by Party A, Party B shall not, in the name of Party A, engage in any
other matter which is not related to such exclusive general agency;

          (2) Party B shall not abuse the trust of Party A and shall not, on behalf of and in the name
of Party A, make any representation or warranty which is not related to the exclusive general
agency or bind Party A to any liabilities or obligations; and

          (3) Party B shall maintain the confidence of, and refrain from divulging, the trade secrets
of Party A.

          Article 9 Breach of Contract Liabilities

          9.1 The Parties shall strictly comply with, and refrain from breaching, the provisions of this
Contract. The breaching party shall indemnify the non-breaching party against any direct economic
losses suffered by the latter as a result of its breach.

          9.2 Party B shall be deemed in breach if Party B fails to make the advertising revenue quota
payments in accordance with this Contract for more than 5 business days. Party A shall have the
right to give a notice requesting remedy of breach and Party B shall within 3 business days of
receipt of such notice remedy the breach, failing which Party A shall have the

 

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right to terminate the exclusive general agency contract without a refund of the performance
security deposit.

          9.3 Party A shall be deemed to have materially breached this Contract if it fails to normally
broadcast, without cause, the advertisements provided by Party B, except where such failure has
been caused by governmental acts, fire, earthquake and other natural disasters or force majeure
events beyond the control of Party A. If there has been a material breach by Party A, or if a
failure by Party A to fulfill its undertakings hereunder has resulted in Party B’s inability to
achieve the economic benefits as expected by it at the time of execution of this Contract, Party A
shall take remedy actions within 3 business days of receipt of a written notice of Party B, failing
which Party B shall have the right to terminate this exclusive general agency contract and Party A
shall refund the performance security deposit with interest.

          9.4 If Party A terminates earlier this Contract without cause, Party A shall refund the
performance security deposit of Party B with interest. If Party B terminates earlier this Contract
without cause, Party B shall forfeit the performance security deposit.

          9.5 If, due to a force majeure event (including changes to relevant policies of the state,
emergencies beyond the control of the Parties, etc.) or a serious downfall in China’s overall TV
advertising market, it becomes impossible to continue to perform this Contract, the Parties may,
though mutual consultations and mutual agreement, re-determine, in light of market conditions,
relevant quota requirements and may ultimately terminate this Contract, without any liability to
each other, provided that the rights, obligations and liabilities of the Parties accrued prior to
such termination shall continue to be exercised or fulfilled in full.

          9.6 In the event of an erroneous broadcasting or omitted broadcasting caused by Party A rather
than by a force majeure event, Party A shall make up the broadcasting to the extent permissible by
its programs scheduling and, in so doing shall not make use of the originally arranged advertising
space. The principle to govern the making-up of a broadcasting shall be “1 make-up broadcasting for
each erroneous broadcasting; 2 make-up broadcastings for each omitted broadcasting”. Party B shall
be solely liable for any erroneous or omitted broadcasting caused by itself.

          Article 10 Assignment of Right of Representation

          10.1 Party B shall perform its obligations and fulfill this agency contract in accordance with
the provisions hereof. Party B shall not assign in whole the right of acting as the exclusive
general agent to any party without the consent of Party A.

          10.2 Party B may separately appoint third party sub-agents to fulfill part of the advertising
operation project under this Contract, provided that such sub-agents shall have the relevant
qualifications and conditions. Party A will not interfere with such sub-agency contract
relationship between Party B and such third parties and Party B shall be liable to Party A for the
responsibilities of such third parties.

          10.3 Party B shall be liable to Party A for the projects delegated by it to sub-agents.

          10.4 Party B shall be deemed in breach if it assigns in whole the right of acting as the
exclusive general agent to any third party, in which event Party A shall have the right to
unilaterally terminate the performance of this agency contract without a refund of the performance
security deposit and shall have the right to demand Party B to indemnify losses suffered by it as a
result of such breach.

 

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          Article 11 Renewal of Contract

          11.1 Provided that Party B shall have achieved the advertising revenue target of each
preceding year as confirmed by the Parties, the exclusive general agency in respect of Category 1
advertisements as agreed hereunder shall last from January 1, 2009 to December 31, 2011. Upon
expiry of such term, if the conditions are equal, Party B shall have the preemptive right to renew
the contract.

          Article 12 Miscellaneous

          12.1 During the performance of this Contract, any change, modification or addition to or
deletion from this Contract shall be subject to mutual consultations and mutual agreement of the
Parties and shall be made in the form of a written instrument, which shall be an integral part of,
and have the same force as, this Contract.

          12.2 Expiry of this Contract shall not affect any outstanding rights and obligations of any
Party, which shall continue to be exercised or performed by the relevant Party in favor of the
other Party.

          12.3 In the event of any organizational change, consolidation or cancellation of a Party, such
Party shall notify the other Party of the same within 7 days of receipt of the relevant
governmental approval document and shall ensure that all contractual rights and obligations shall
be assumed by the organization arising out of such change.

          Article 13 Notice

          Any notice, request or other communication required under this Contract shall be made in
writing and may be sent to the other Party by way of post, fax, electronic mail at the addresses
set out in the signature space of each Party ( with the designated person of each Party set out
therein as the contact person of each Party). Such contact persons of the Parties shall within 4
days of execution hereof confirm such notice information in writing.

          Article 14 Dispute Resolution

          14.1 Any dispute arising out of or in connection with this Contract shall be resolved by the
Parties through amicable consultations, failing which it shall be submitted to the People’s Court
of the place of the defendant for resolution by way of litigation. The losing Party shall bear the
litigation costs.

          14.2 On occurrence of a dispute and during the course of its litigation, the Parties shall
continue to exercise their rights and perform their obligations expect for their rights and
obligations in respect of matters under litigation.

          Article 15 Governing Law

          15.1 All provisions of this Contract shall be governed by the current laws of the People’s
Republic of China. If, due to any new enactment of laws, decrees or regulations or any amendment
to any existing laws, decrees or regulations made upon effectiveness of this

 

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Contract, the economic benefits of any Party hereunder suffers any material change, the
Parties shall without delay consult each other and shall make such modifications and adjustments to
relevant provisions hereof to the extent necessary to protect the normal economic benefits of the
Parties hereunder.

          Article 16 Effectiveness of Contract

          This Contract shall be made in four originals. This Contract is executed on this day of
November 8, 2009 by the authorized representatives of the Parties in Tianjin and shall become valid
from the date of execution. Each Party shall hold two copies of this Contract, each copy of which
shall have the same legal force.

          Article 17 Time and Currency

          All times involved in this Contract are Beijing Times. All amounts involved in this Contract
are RMB.

Party A (Seal): Tianjin Television Station Seal for Satellite TV Channel Advertisement Agreement

Legal Representative/Authorized Representative:

Legal Address:

Tel:

Fax:

Email:

Party B (Seal): Qinghai Charm Advertising Co., Ltd.

Legal Representative/Authorized Representative:

Legal Address:

Tel:

Fax:

Email:exv10w3w4

EXHIBIT 10.3.4

Translation

CERTAIN INFORMATION (INDICATED BY ASTERISKS) IN THIS EXHIBIT HAS

BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND

EXCHANGE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN

REQUESTED WITH RESPECT TO THE OMITTED PORTION.

Shanghai Media Group

2010 Advertisement Agency Agreement

No.: W2010013

          Party A: Shanghai Media Group; Shanghai Media Group Advertisement Operation Center (“Party A”)

          Party B: Qinghai Charm Advertising Company Limited (“Party B”)

          WHEREAS:

          Having each been granted the opportunity to read this Contract, Party A and Party B hereby
expressly understand and acknowledge as follows:

          1. Shanghai Media Group and Shanghai Media Group Advertisement Operation Center together
constitute Party A. Shanghai Media Group Advertisement Operation Center is an entity which
centrally manages and operates, under the authorization of Shanghai Media Group, advertisement
placement matters in respect of the media owned by Shanghai Media Group, and which is authorized to
exercise the rights hereunder and perform the obligations hereunder;

          2. Qinghai Charm Advertising Company Limited constitutes Party B. Party B is an advertisement
business entity which is lawfully organized in the People’s Republic of China, has been duly
registered with and approved by the industry and commerce administration, and is permitted to
engage in the business of placing advertisements in the media. Party B warrants that it has the
qualifications and ability to independently exercise its rights hereunder and perform its
obligations hereunder; and

          3. Party A conducted a public tendering in connection with its TV advertising business in
November, 2009. Beijing Yuedong Chuangshi Cultural Media Co., Ltd. won the bid regarding domestic
direct customers project DF10-0.

          4. Party B represents that its sole shareholder, Beijing Shidai Charm Advertising Co., Ltd.,
will hold 50% of equity interest in Beijing Yuedong Chuangshi Cultural Media Co., Ltd., whose
amendment to Administration of Industry and Commerce Registration is being applied for. Until the
completion of the amendment, Beijing Yuedong Chuangshi Cultural Media Co., Ltd. authorizes Party B
to exclusively operate the business under project DF 10-0, and Party B will pay Party A RMB***** on
December 31, 2009 and January 29, 2010, respectively, as the performance security deposit.

          5. In order to guarantee the performance of project DF 10-0, Party A agrees to sign a
cooperation agreement, under which Party B shall be the exclusive operator of the project and shall
assume all rights and obligations thereunder. Party A agrees to issue Party B the advertisement
agency certificate for 2010. Party A agrees that once the amendment to the Administration of
Industry and Commerce Registration for Beijing Yuedong Chuangshi Cultural

 

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Media Co., Ltd. is completed, Beijing Yuedong Chuangshi Cultural Media Co., Ltd. will assume
Party B’s rights and obligations under this agreement. The performance security deposit and
advertisement fee paid by Party B will be credited to the account of Beijing Yuedong Chuangshi
Cultural Media Co., Ltd. Party B and Beijing Yuedong Chuangshi Cultural Media Co., Ltd will use
their best efforts to transfer the rights and obligations under this agreement by March 1, 2010.

          6. Beijing Yuedong Chuangshi Cultural Media Co., Ltd. and Beijing Shidai Charm Advertising
Co., Ltd. shall be jointly and severally liable for Party B’s liability in connection with this
Agreement. Shidai Charm Advertising Co., Ltd. shall be jointly and severally liable for the
liabilities of Beijing Yuedong Chuangshi Cultural Media Co., Ltd. after the transfer mentioned in
the preceding paragraph. The liabilities include, but not limited to amount payable (including
principal amount, interest, fee, penalty interest, breaching penalty and damage), as well as
liabilities arise from non-performance, partial performance and unconsented modification. The
liability is limited to all the asset of Qinghai Charm Advertising Co., Ltd.

          The Parties share the common wish of engaging in friendly cooperation and developing the TV
advertisement business.

          NOW, THEREFORE, in accordance with relevant provisions of the Contract Law of the People’s
Republic of China, the Advertising Law of the People’s Republic of China and other relevant laws
and regulations, based on the principle of honesty and creditworthiness, friendly cooperation and
mutual benefits, Party A and Party B hereby reach the following agreements in respect of the
placement by Party B in 2010 of advertisements on the TV channels owned by Shanghai Media Group:

          Article 1 Definitions

          For the purpose hereof, unless otherwise required by the context, the following words and
expressions shall have the following meanings:

          1. Contract Price. For the purpose hereof, the term “Contract Price” means the amount to be
paid by Party B to Party A in accordance with Article 4.1 hereof.

          2. Erroneous Broadcasting. For the purpose hereof, the term “Erroneous Broadcasting” means the
broadcasting by Party A of the advertisements of Party B with an error of version, date, time slot,
channel, etc.

          3. Omitted Broadcasting. For the purpose hereof, the term “Omitted Broadcasting” means a
failure to broadcast the advertisement booked by Party B.

          4. Ceased Broadcasting. For the purpose hereof, the term “Ceased Broadcasting” means a
cessation by Party A of advertisement broadcasting due to force majeure or such causes as set out
in Article 6.5 hereof.

          Article 2 Term of Contract

          The term of this Contract shall commence as from January 1, 2010 and expire as of December 31,
2010.

 

3

          Article 3 Scope of Contract

          1. Party B shall purchase from Party A the advertisement operation right for a total of *****
minutes per day and ***** minutes per day during the day and night time, respectively, on the
channel of Dragon TV.

          2. Party B’s advertisement operation right shall be limited to the time covered by this
Agreement. Non-traditional advertisement methods such as naming right, special broadcasting
sponsorship, content provider advertisement, program banner and virtual advertisement are not
subject to this Agreement.

          Article 4 Contract Price, Performance Security Deposit and Method of Payment

          4.1 The Contract Price to be paid by Party B for the purchase of the advertisement operation
right hereunder shall be RMB ***** (*****).

          4.2 Party B shall pay the Contract Price without delay in accordance with the following
schedule:

	 	 	 
	January, 2009:

	 	RMB*****
	February, 2009:

	 	RMB*****
	March, 2009:

	 	RMB*****
	April, 2009:

	 	RMB*****
	May, 2009:

	 	RMB*****
	June, 2009:

	 	RMB*****
	July, 2009:

	 	RMB*****
	August, 2009:

	 	RMB*****
	September, 2009:

	 	RMB*****
	October, 2009:

	 	RMB*****
	November, 2009:

	 	RMB*****
	December, 2009:

	 	RMB*****

          NOTE: The payment dates for the above payments shall all fall no later than the
25th day of each month. The performance security deposit to be separately paid by Party
B may be used, and shall only be used, to set off against the relevant amounts of the Contract
Price of the last two months of the term of the contract.

          4.3 Within one week from the execution hereof, Party B shall pay a sum of RMB***** to Party A
as the performance security deposit for its purchase of the advertising operation right hereunder.
If Party B fails to timely pay the full amount of such performance security deposit on a lump-sum
basis, Party A shall have the right to immediately terminate this Contract.

          4.4 Party B agrees that Party A may directly deduct from its performance security deposit the
advertisement broadcasting fee and such liquidated damages, indemnities and any other outstanding
payment as set out in Article 6. Party B shall make up the deducted performance security deposit
within 10 days from such deduction, failing which Party A shall have the right to proceed in
accordance with Article 6.3 hereof.

 

4

          4.5 If Party B fails to pay in full the Contract Price, Party A shall have the right to treat
the performance security deposit as the money to set off the unpaid portion of the Contract Price.
Where such performance security deposit is not sufficient to cover such unpaid portion of the
Contract Price, Party A may separately claim the same from Party B.

          Article 5 Rights and Obligations of the Parties

          5.1 Party A shall be entitled to review the relevant qualifications of Party B before the
entry into of this Contract and Party B shall be obligated to truthfully provide relevant documents
to Party A in accordance with relevant requirements of the state and shall be held legally liable
for the truthfulness of such documents.

          5.2 Subject to written consent of Party A, Party B may exercise its rights in accordance with
the principle of “independent promotion, independent pricing and independent operation” in the
programs in respect of which Party B has the operation right as an agent hereunder, provided that
Party B shall cooperate with the special requests imposed by Party A on the broadcasting of
relevant brand advertisements in light of the requirements of relevant laws, regulations and
policies, the need for public opinion guidance management or the need to stabilize or safeguard
market order.

          5.3 Party B covenants that during the course of the operations conducted by it in 2010 as an
agent hereunder, it shall refrain from applying the CPRP, or cost per rating point method to its
customers and shall safeguard the stability of the pricing system in conjunction with Party A.

          5.4 The Parties shall separately determine, by way of advertisement placement and broadcasting
booking orders, the lengths and positions of the advertisements to be actually placed and
broadcasted during the performance of this Contract. The booking orders of Party B shall in
principle be in the form of an original copy duly signed by the business personnel of Party B and
affixed with the corporate seal of Party B. Party B shall provide the name list of such business
personnel to Party A for its confirmation and recordal. If Party B makes the order by fax, then, in
addition to the signature and sealing as required of the original copy of an order, such faxed copy
shall also clearly set out the fax number and the transmission time. A booking order will become
effective immediately upon confirmation, signature and sealing by the business personnel of Party
A.

          5.5 The Parties agree that the broadcasting of advertisements hereunder during each day or
period shall be based on the program play-out schedule of the day of broadcasting. Where Party B
fails to provide the advertisement schedule, or where Party B provides an advertisement schedule
with advertisement broadcasting times different from the advertising operation time of such day or
period as notified by Party A to Party B in accordance with this Contract, Party B shall be deemed
to have used its advertising operation right in respect of such day or period in full conformity
with this Contract.

          5.6 The advertisements provided by Party B shall comply with the Advertising Law of the
People’s Republic of China and relevant laws and regulations and shall not violate

 

5

any prior right of any third party. Party B shall furnish to Party A relevant certificates
and approvals issued by relevant competent authorities. Medical advertisements shall be subject to
review and approval by relevant authorities of Shanghai City. Party B further agrees to strictly
abide by relevant requirements of relevant competent authorities of the state on the placement and
broadcasting of advertisements as well as the Advertisement Placement and Broadcasting Instructions
issued by Party A. Otherwise, Party A shall have the right to decline the broadcasting of such
advertisements and Party B shall bear all losses arising therefrom. Party B shall be responsible
for any economic and legal liabilities resulting from any political mistake or breach of relevant
regulations arising after the broadcasting of any advertisement. Party A shall not be held liable,
on account of its act of review, for the lawfulness and truthfulness of the content of any
advertisement or any consequence arising from such advertisement.

          5.7 Party A shall have the right to review the sample tapes of advertisements in terms of
their content, expressive form, technical standard, etc and to demand Party B to make modifications
to sample tapes of advertisements which contain contents and expressive forms that are in violation
of applicable laws, regulations and rules or which fail to meet technical standards. Unless and
until such modifications are made, Party A shall have the right to refuse the broadcasting of the
same and Party B shall bear all losses arising therefrom.

          5.8 The advertisement broadcasting tapes and advertisement placement and broadcasting orders
of Party B shall be delivered to Party A ten days before the broadcasting date and Party B shall be
liable for the broadcasting delay arising out of its failure to deliver the same. The advertisement
broadcasting tapes shall be consistent with the sample tapes of advertisement which have been
previously provided to, and approved by, Party A and shall equally be consistent with the version
indicated in the relevant advertising placement and broadcasting order, failing which Party B shall
be responsible for all liabilities arising therefrom. A tape number shall be applied for in
relation to an advertisement before it is broadcasted, and the booking order shall state not only
the relevant version or the relevant brand but shall also state the relevant tape number, which
shall have the overruling effect. If the booking order of Party B contains the brand or version
information only and does not contain the tape number information, Party A shall have the right to
refuse to broadcast the advertisement and Party B shall bear all losses arising therefrom.

          5.9 Any modification or cancellation by Party B of an advertisement order shall be notified by
way of a signed written notice to Party A seven business days before the broadcasting date of the
advertisement and shall obtain written consent of Party A. If such notice is provided to Party A
four business days before the broadcasting date of the advertisement and if Party A grants its
consent, Party B shall pay to Party A a fee equal to *****% of the modified or cancelled portion of
the original order. No advertisement order may be modified or cancelled three business days before
its broadcasting date.

          5.10 Any objection by Party B to the broadcasting of an advertisement shall be made in writing
within 15 business days from the agreed broadcasting time of the advertisement and shall be
accompanied by written and taped broadcasting monitoring documents issued by an authoritative
broadcasting monitoring company acceptable to the Parties. If Party B has not made any written
objection within such 15 business days, the broadcasting of such advertisement shall

 

6

be deemed accurate and valid. Party A may at the request of Party B issue a broadcasting
completion certificate within 30 days from the broadcasting date of an advertisement.

          5.11 Party B shall timely make the payments agreed hereunder. Party B shall not demand a
reduction of the agreed total Contract Price on grounds of insufficient advertisement business
development or any other reasons.

          5.12 Party B undertakes to place without delay the advertisements in accordance with the
requirements set out herein within the times and deadlines agreed herein. Party A will not
broadcast any advertisement which has missed such time and deadline.

          5.13 During its performance of the advertising agency contract hereunder, Party B shall be
responsible for resolving, and shall assume relevant liabilities for, any creditor rights, debt or
other economic disputes arising as a result of reasons attributable to Party B or its customers, or
any suit or dispute arising after the broadcasting of any advertisement.

          5.14 During its conduct of the advertising agency operations hereunder, Party B shall give
Party A a written notice of any of its change in equity interests, material asset disposal,
lawsuits and other material matters, as well as any material project cooperation, mortgage creation
or loan extension and like economic activities in relation to a third party and shall provide
relevant documents together with such notice. Party A reserves the right to pursue Party B for its
failure to comply with this notice obligation.

          Article 6 Breach of Contract Liabilities

          6.1 Party B agrees that it shall immediately notify Party A of any of its breaches of the
foregoing provisions and shall timely take actions to duly remedy the same; and that it shall
solely assume all relevant losses, responsibilities, obligations and expenses and breach of
contract liabilities; and that Party A shall have the right to immediately terminate this Contract.

          6.2 Upon its entry into force, this Contract shall not be unduly modified or terminated by
neither of the Parties. In addition to complying with laws and relevant contractual provisions, any
termination or modification of this Contract shall be subject to the mutual agreement of the
Parties and shall be effected by a separate supplementary agreement to be entered into by the
Parties in accordance with law. Failure to comply with the foregoing sentence shall be deemed a
breach of this Contract. In addition to its right to request the breaching Party to continue to
perform this Contract, the non-breaching Party shall also have the right to demand the breaching
Party to pay liquidated damages equal to *****% of the portion of the Contract Price which remains
to be performed.

          6.3 Party B shall make the payments in accordance with this Contract. Late payment by Party B
shall entitle Party A to cease the broadcasting of Party B’s advertisements and ultimately, to
unilaterally terminate this Contract without a refund of the performance security deposit to Party
B. In addition, Party A shall be entitled to request Party B to pay to it a late payment penalty
equal to *****% of the aggregate sum of late payment for each day of delay until full settlement of
such late payment. If a payment by Party B becomes overdue for

 

7

more than 30 days, Party B shall, in addition to the late payment penalty, pay to Party A late
payment damages equal to *****% of the overdue payment.

          6.4 If Party B is breach of Article 5.3 hereof, Party B shall assume breach of contract
liabilities and forfeit the performance security deposit and Party A shall be entitled to
immediately terminate this Contract.

          6.5 Party A shall broadcast Party B’s advertisements in accordance with this Contract. In the
event of an Erroneous Broadcasting or a Omitted Broadcasting, Party A will make up the broadcasting
in accordance with the principle of “One Make-up Broadcasting for One Erroneous Broadcasting; Two
Make-up Broadcastings for One Omitted Broadcasting”, with the make-up broadcasting time slots to be
arranged for by Party A in accordance with the program schedule. However, if, due to a change in
the programs of the various TV channels owned by SMG, the order of a superior authority, or a
mechanical failure and like reasons, a program or its broadcasting time or channel has been
modified and has thereby made it impossible to broadcast an advertisement or has thereby resulted
in an inconsistency between the actual broadcasting of the advertisement and its booking order, no
breach shall be deemed to have occurred.

          Article 7 Independent Contractors

          7.1 The Parties hereto are independent contractors and no joint venture, partnership or
employment relationship is created between the Parties. No Party or any of its employees or agents
may conduct, or attempt to conduct, business on behalf of the other Party as a partner,
representative, employee or otherwise or represent itself as such either explicitly or implicitly.

          7.2 Without written consent of Party A, Party B may not carry out external publicity
activities by representing itself as a sponsorship partner or sponsor of the programs of Party A,
nor shall it use the names, logos or other marks of Party A or SMG.

          Article 8 Contractual Effect

          8.1 Without written consent of Party A, Party B may not assign this Contract or any of its
rights and obligations hereunder. Where Party B is found to have made such an assignment without
authorization, Party B shall forfeit the performance security deposit and Party A shall be entitled
to immediately terminate this Contract.

          8.2 The following documents shall have the same legal force as this Contract:

(1) Advertisement placement booking orders;

(2) The last released 2010 standard advertising prices list (in the event of any change, the
standard price/s released by Party A immediately thereupon shall apply);

(3) Advertisement Placement and Broadcasting Instructions;

(4) Hard-Sell Advertisement Resources Table; and

(5) Notes on the Advertising Resources Table.

 

8

          Article 9 Force Majeure

          If, due to earthquake, typhoon, flood, fire, the order of a superior authority and other force
majeure events, a Party is prevented from continuing to perform this Contract, the Parties shall
terminate this Contract without liability to each other, provided that the affected Party shall
have timely notified the other Party upon occurrence of the force majeure event.

          Article 10 Dispute Resolution

          Upon effectiveness of this Contract, any dispute arising out of its performance shall be
resolved by the Parties through amicable consultations, failing which, such dispute may be
submitted by the Parties to the People’s Court of the place of performance of this Contract.

          Article 11 Effectiveness

          11.1 This Contract shall be made in Chinese in four originals, with each of the Parties
holding two copies thereof. Each copy shall have the same legal force.

          11.2 This Contract shall become effective on the date when it is signed and sealed by each of
the Parties.

	 	 	 
	Party A:

	 	Party B:
	Shanghai Media Group;

	 	Qinghai Charm Advertising Company
	Shanghai Media Group

	 	Limited
	Advertisement Operation Center
	 	 
	 
	 	 
	By:

	 	By:
	(Seal)

	 	(Seal)
	 
	 	 
	Date: Feb 9, 2010

	 	Date: Feb 8, 2010
	 
	 	 
	Guarantor:

	 	Guarantor:
	Beijing Shidai Charm Advertising

	 	Beijing Yuedong Chuangshi Cultural Media
	Shanghai Media Group

	 	Company Limited
	Advertisement Operation Center
	 	 
	 
	 	 
	By:

	 	By:
	(Seal)

	 	(Seal)
	 
	 	 
	Date:

	 	Date:

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