Document:

exv10w2w5

Exhibit 10.2.5

     Shares Issuance Agreement

June 12 , 2009

Redgate Media Group

Redgate Interactive Advertising (Beijing) Co., Ltd.

 (  )

and

Weidong Zhu (  )

Zhenhui Wang (  )

Wenhua Cao (  )

 

SHARES ISSUANCE AGREEMENT
 

 

 

Shares Issuance Agreement

THIS AGREEMENT CONTAINS THE WHOLE AGREEMENT BETWEEN THE PARTIES RELATING TO THE TRANSACTIONS
CONTEMPLATED BY THIS AGREEMENT AND SUPERSEDES THE PREVIOUS SHARES ISSUANCE AGREEMENT WHICH WAS
DATED AND SIGNED ON APRIL 8TH, 2008.

THIS SHARES ISSUANCE AGREEMENT (this “Agreement”) is made on June 12, 2009

Among

Redgate Media Group (“Company”), a company incorporated under the laws of Cayman Islands with its
registered office at Scotia Centre, 4th Floor, P.O. Box 2804, George Town, Grand Cayman, Cayman
Islands, British West Indies;

and

Redgate Interactive Advertising (Beijing) Co., Ltd.  (  )

(“WFOE Redgate (  )”), a company incorporated under the laws of the PRC with its registered
office at Room 804, 2nd Building, No.19 Jianwai St, Chaoyang District, Beijing, the PRC;

and

Weidong Zhu (in Chinese “”), citizen of the PRC, whose PRC identity card number is
310110197006105018;

Zhenhui Wang (in Chinese “”), citizen of the PRC, whose PRC identity card number is
31010219690611525X;

Wenhua Cao (in Chinese “”), citizen of the PRC, whose PRC identity card number is
330102195906230636; (Weidong Zhu, Zhenhui Wang and Wenhua Cao shall collectively be hereinafter
referred to as the “Allottees” and each an “Allottee”);

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Shares Issuance Agreement

The Company, WFOE Redgate (  ) and the Allottees are collectively referred to as the
“Parties” and individually as a “Party”.

Recitals:

	A.	 	The Company has option to allot and issue or procure the allotment and issuance of the Issued
Shares (as defined hereinafter) to the Allottees in consideration of the provision of
management services by the Allottees to Yarun, and the giving of confidentiality undertaking
and Non-Competition Undertaking by the Allottees to the Company as set out herein;
	 
	B.	 	The option of the Company to allot and issue or procure the allotment and issuance of the
Issued Shares are subject to satisfaction or waiver of the conditions precedent hereunder.

Therefore, in consideration of the mutual covenants and undertakings contained herein, and subject
to and on the terms and conditions herein set forth, the Parties hereto agree as follows:

ARTICLE
1 DEFINITIONS

Section 1.1 Specific Definitions

As used in this Agreement, the following terms shall have the meanings set forth or referenced
below:

“Affiliate” means with respect to any person, any other person that directly, or indirectly through
one or more intermediaries, controls or is controlled by, or is under common control with, such
person. For purposes of the foregoing, with respect to any person, “control” means the possession,
directly or indirectly, of the power to direct or cause the direction of the management and
policies of such person, whether through ownership of voting securities or by contract, management
rights or otherwise.

“Business Day” means any day other than a Saturday, a Sunday or a day in which banks in either the
PRC or Hong Kong are closed for business.

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Shares Issuance Agreement

“Completion” means the Tranche A Completion, the Tranche B Completion and the Tranche C Completion,
respectively.

“Completion Date” means the Tranche A Completion Date, the Tranche B Completion Date or the Tranche
C Completion Date, as the case may be.

“Confidential Information” means all confidential, non-public or proprietary information belonging
to a Party regardless of how the information is stored or delivered, exchanged between the Parties
before, on or after the date of this Agreement relating to the business, technology or other
affairs of the Party who provides such information, but excludes information which:

	 	(a)	 	is in or becomes part of the public domain other than through a breach of this
Agreement or an obligation of confidence imposed on the Party to whom the information
belongs;
	 
	 	(b)	 	the recipient can prove such information was already known to it at the time of
disclosure by the Party to whom the information belongs (unless such knowledge arose
from disclosure of information in breach of an obligation of confidentiality); or
	 
	 	(c)	 	the recipient acquires from a source other than the Party to whom the information
belongs, where such source is entitled to disclose the same to the recipient.

“Encumbrance” means any mortgage, deed of trust, pledge, option, right of first refusal or any
other kind of security interest or claim against a proprietary right.

“Equity Transfer Agreement” means the equity transfer agreement in relation to the transfer of 100%
of equity interests in Yarun to be entered into by and among WFOE Redgate (  ), Yarun, the
Allottees on the date hereof.

“Hong Jiu” means Shanghai Hong Jiu Commercial Consultations Co., Ltd. (  ), a
company incorporated under the laws of the PRC. Yarun owned 70% equity interests (“Hong Jiu
Shares”) in Hong Jiu.

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Shares Issuance Agreement

“Hong Kong” means the Hong Kong Special Administrative Region.

“IPO” means an initial public offering or the listing of the shares of Listco on an internationally
recognized stock exchange.

“Year of IPO “means the year in which the IPO occurs.

“Issued Shares” means the common shares of Listco to be issued or procured to be issued by Listco
to the Allottees pursuant to this Agreement, namely the Tranche A Shares, the Tranche B Shares
and/or the Tranche C Shares.

“Listco” means the Company whose common shares are listed pursuant to an IPO (or any wholly-owned
subsidiary of the Company, which is also the holding company of Yarun, whose common shares are
listed pursuant to an IPO should the IPO of the common shares of such subsidiary of the Company
occur prior to the IPO of the common shares of the Company).

“Non-Competition Undertaking” means the undertakings given by the Allottee to the Company under
this Section 2.3 of this Agreement.

“PRC” means the People’s Republic of China excluding, for the purpose of this Agreement, Hong Kong,
the Macau Special Administrative Region and Taiwan.

“RMB” means Renminbi, the lawful currency of the PRC.

“Shares” means the issued share capital of Listco.

“Tranche A Completion” means the completion of the issue and allotment of the Tranche A Shares (if
any) in accordance with this Agreement.

“Tranche A Completion Date” means fifteen (15) days after the Tranche A CP Completion Date or any
other date agreed by the Company and the Allottees in writing.

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Shares Issuance Agreement

“Tranche A CP Completion Date” means the date on which all the conditions precedent to the Tranche
A Completion set out in Section 2.4 are satisfied.

“Tranche A Shares” means the Shares to be issued to the Allottees pursuant to Section 2.2(a)(i),
2.2(b)(i) or 2.2(c)(i) of this Agreement.

“Tranche B Completion” means the completion of the issue and allotment of the Tranche B Shares (if
any) in accordance with this Agreement.

“Tranche B Completion Date” means fifteen (15) days after the Tranche B CP Completion Date or any
other date agreed by the Company and the Allottees in writing.

“Tranche B CP Completion Date” means the date on which all the conditions precedent to the Tranche
B Completion set out in Section 2.5 are satisfied.

“Tranche B Shares” means the Shares to be issued to the Allottees pursuant to Sections 2.2(a)(ii),
2.2(b)(ii) or 2.2(c)(ii) of this Agreement.

“Tranche C Completion” means the completion of the issue and allotment of the Tranche C Shares (if
any) in accordance with this Agreement.

“Tranche C Completion Date” means fifteen (15) days after the Tranche C CP Completion Date or any
other date agreed by the Company and the Allottees in writing.

“Tranche C CP Completion Date” means the date on which all the conditions precedent to the Tranche
C Completion set out in Section 2.6 are satisfied.

“Tranche C Shares” means the Shares to be issued to the Allottees pursuant to Sections 2.2(a)(iii),
2.2(b)(iii) or 2.2(c)(iii) of this Agreement.

“USD” means US dollars, the lawful currency of the United States of America.

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Shares Issuance Agreement

“US GAAP” means the generally accepted accounting principles established by the Financial
Accounting Standards Board of the United States of America, as amended from time to time.

“Yarun” means Shanghai Yarun Culture Communications Co., Ltd. (  ), a company
incorporated under the laws of the PRC.

“Yarun Equity Transfer Consideration” means the consideration payable by WFOE Redgate (  ) in
connection with its acquisition of 100% of equity interests in Yarun pursuant to the Equity
Transfer Agreement.

Section 1.2 Other Terms

Other terms may be defined elsewhere in the text of this Agreement and, unless otherwise indicated,
shall have such meaning indicated throughout this Agreement.

Section 1.3 General Interpretation

Unless the contrary intention appears or otherwise defined, in this Agreement:

	(a)	 	(Articles, Sections, clauses, annexures and schedules) an Article, Section, clause, annexure
or schedule means a reference to a clause in or annexure or schedule to this Agreement;
	 
	(b)	 	(variations or replacement) a document (including this Agreement) includes any amendment,
variation or replacement of it;
	 
	(c)	 	(reference to statutes) a statute, ordinance, code or other law includes regulations and
other instruments under it and consolidations, amendments, re-enactments or replacements of
any of them;
	 
	(d)	 	(law) means common law, principles of equity, and statutes;

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Shares Issuance Agreement

	(e)	 	(singular includes plural) the singular includes the plural and vice versa;
	 
	(f)	 	(person) the word “person” includes an individual, a firm, a corporation, a partnership, a
joint venture, an unincorporated body or association or any government agency;
	 
	(g)	 	(executors, administrators, successors) a particular person includes a reference to the
person’s executors, administrators, successors, substitutes (including persons taking by
novation) and assigns;
	 
	(h)	 	(two or more persons) an agreement, representation or warranty in favor of two or more
persons is for the benefit of them jointly and each of them individually;
	 
	(i)	 	(jointly and severally) an agreement, representation or warranty by two or more persons binds
them jointly and each of them individually;
	 
	(j)	 	(calculation of time) if a period of time dates from a given day or the day of an act or
event, it is to be calculated exclusive of that day;
	 
	(k)	 	(reference to a day) a day is to be interpreted as the period of time commencing at midnight
and ending 24 hours later on any Business Day;
	 
	(l)	 	(reference to a group of persons) a group of persons or things is a reference to any two or
more of them jointly and to each of them individually;
	 
	(m)	 	(meaning not limited) the words “include”, “including”, “for example” or “such as” are not
used as, nor is it to be interpreted as, a word of limitation and when introducing an example,
do not limit the meaning of the words to which the example relates to that example or examples
of a similar kind.

Section 1.4 Headings

Headings (including those in brackets at the beginning of paragraphs) are for convenience only and
do not affect the interpretation of this Agreement.

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Shares Issuance Agreement

ARTICLE 2 Issuance of the Issued Shares

Section 2.1 Issuance of the Issued Shares

As the inducement for the Allottees to enter into this Agreement and in consideration of the
entering into of the Equity Transfer Agreement and completion of the transfer of 100% equity
interests of Yarun by the Allottees to WFOE Redgate (  ) as contemplated therein, the
provision of management services by the Allottees to Yarun, and the giving of confidentiality
undertaking and Non-Competition Undertaking by the Allottees to the Company as set out herein, the
Company agrees to allot and issue or procure the allotment and issuance of the Issued Shares and/or
make equivalent payment in cash to the Allottees (as the case may be) on the terms and conditions
of this Agreement on each respective Completion Date.

Section 2.2 Determination of Consideration

	(a)	 	if an IPO occurs on or before 31st December 2009, then the Company has the option
to grant to Allottees shares or cash of Listco in equivalent value:

(i) the following number of Tranche A Shares on the Tranche A Completion Date:

	 	 	 	 	 
	X =

	 	A x C x 40% - F - Yarun Equity Transfer Consideration	 	 
	 	

B	 	 
	 

	 		 	 

		Where:	 	
	 
	 	X =	 	the number of the Tranche A Shares (For the avoidance of doubt,
if the numerator of the above formula is by calculation is zero or less than
zero, X shall be automatically deemed as zero.)
	 
	 	A =	 	the audited net profits of Yarun for the year ended
31st December 2009 calculated in accordance with US GAAP with an
unqualified audit opinion less the Hongjiu Sales Profits (“Yarun 2009 Net
Profits”)
	 
	 	B =	 	the closing price for the 15 days before the completion of
Yarun Equity Transfer.
	 
	 	C =	 	6
	 
	 	 	 	If 2009 net earning/2008 net earning >120%, C=6.5

If 2009 net earning /2008 net earning >135%, C=7

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Shares Issuance Agreement

	 	 	 	If 2009 net earning /2008 net earning >150%, C=8
	 
	 	F = 	 	Audit fee for years 2005 to 2009 US GAAP historical financial
report auditing
	 
	 	provided that, the Company may elect at its sole discretion to pay cash or
procure the payment of cash to the Allottees in lieu of all or part of the Tranche A
Shares issuable to the Allottees under this Section 2.2(a)(i), in which case, the
amount of cash payable in lieu of Tranche A Shares shall be equal to the number of
Tranche A Shares for which the Company has elected to pay cash (in lieu of issuance
of Tranche A Shares) under this Section 2.2(a)(i) multiplied by B;

(ii) the following number of Tranche B Shares on the Tranche B Completion Date:

	 	 	 	 	 
	X =

	 	A x C x 40%	 	 
	 	 

B	 	 
	 		 	 

	 	Where:	 	
	 
	 	X = 	 	the number of the Tranche B Shares (For the avoidance of doubt,
if the numerator of the above formula is by calculation is zero or less than
zero, X shall be automatically deemed as zero.)
	 
	 	A = 	 	the audited net profits of Yarun for the year end
31st December 2010 calculated in accordance with US GAAP with an
unqualified audit opinion (“Yarun 2010 Net Profits”)
	 
	 	B = 	 	the average of the closing price per Share for the ten (10)
trading days after the announcement of Listco’s audited accounts for the
financial year ended 31st December 2010
	 
	 	C = 	 	6

If 2010 net earning/2009 net earning >120%, C=6.5

If 2010 net earning /2009 net earning >135%, C=7

If 2010 net earning /2009 net earning >150%, C=8
	 
	 	provided that, the Company may elect at its sole discretion to pay cash or
procure the payment of cash to the Allottees in lieu of all or part of the Tranche B
Shares issuable to the Allottees under this Section 2.2(a)(ii), in which case, the
amount of cash payable in lieu of Tranche B Shares shall be equal to the number of
Tranche B Shares for which the Company has elected to pay cash (in lieu of issuance
of Tranche B Shares) under this Section 2.2(a)(ii) multiplied by B;

(iii) the following number of Tranche C Shares on the Tranche C Completion Date:

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Shares Issuance Agreement

	 	 	 	 	 
	 X = 

	 	A x C x 20%	 	 
	 	 

B	 	 
	 

	 		 	 

	 	Where:	 	
	 
	 	X = 	 	the number of the Tranche C Shares (For the avoidance of doubt,
if the numerator of the above formula is by calculation is zero or less than
zero, X shall be automatically deemed as zero.)
	 
	 	A = 	 	the audited net profits of Yarun for the year end
31st December 2011 calculated in accordance with US GAAP with an
unqualified audit opinion (“Yarun 2011 Net Profits”)
	 
	 	B = 	 	the average of the closing price per Share for the ten (10)
trading days after the announcement of Listco’s audited accounts for the
financial year ended 31st December 2011
	 
	 	C = 	 	6
	 
	 	 	 	If 2011 net earning/2010 net earning >120%, C=6.5

If 2011 net earning /2010 net earning >135%, C=7
If 2011 net earning /2010 net earning >150%, C=8
	 
	 	provided that, the Company may elect at its sole discretion to pay cash or
procure the payment of cash to the Allottees in lieu of all or part of the Tranche C
Shares issuable to the Allottees under this Section 2.2(a)(iii), in which case, the
amount of cash payable in lieu of Tranche C Shares shall be equal to the number of
Tranche C Shares for which the Company has elected to pay cash (in lieu of issuance
of Tranche C Shares) under this Section 2.2(a)(iii) multiplied by B;

	(b)	 	if an IPO occurs after 31st December 2009 and before 31st December
2010, then the Company has the option to grant to Allottees shares or cash of Listco in
equivalent value:

(i) the following amount of Tranche A Shares on the Tranche A Completion Date:

	 	 	 	 	 
	X = 

	 	A x C x 40% - F - Yarun Equity Transfer Consideration	 	 
	 	 

B	 	 
	 

	 		 	 

	 	Where:	 	
	 
	 	X = 	 	the number of the Tranche A Shares (For the avoidance of doubt,
if the numerator of the above formula is by calculation is zero or less than
zero, X shall be automatically deemed as zero.)

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Shares Issuance Agreement

	 	A = 	 	Yarun 2010 Net Profits
	 
	 	B = 	 	the closing price for the 15 days before the completion of
Yarun Equity Transfer.
	 
	 	C = 	 	6
	 
	 	 	 	If 2010 net earning/2009 net earning >120%, C=6.5
If 2010 net earning /2009 net earning >135%, C=7
If 2010 net earning /2009 net earning >150%, C=8
	 
	 	F = 	 	Audit fee for years 2005 to 2010 US GAAP historical financial
report auditing
	 
	 	provided that, the Company may elect at its sole discretion to pay cash or
procure the payment of cash to the Allottees in lieu of all or part of the Tranche A
Shares issuable to the Allottees under this Section 2.2(b)(i), in which case, the
amount of cash payable in lieu of Tranche A Shares shall be equal to the number of
Tranche A Shares for which the Company has elected to pay cash (in lieu of issuance
of Tranche A Shares) under this Section 2.2(b)(i) multiplied by B;

(ii) the following number of Tranche B Shares on the Tranche B Completion Date:

	 	 	 	 	 
	X = 

	 	A x C x 40%	 	 
	 	 

B	 	 
	 

	 		 	 

	 	Where:	 	
	 
	 	X = 	 	the number of the Tranche B Shares (For the avoidance of doubt,
if the numerator of the above formula is by calculation is zero or less than
zero, X shall be automatically deemed as zero.)
	 
	 	A = 	 	Yarun 2011 Net Profits
	 
	 	B = 	 	the average of the closing price per Share for the ten (10)
trading days after the announcement of Listco’s audited accounts for the
financial year ended 31st December 2011
	 
	 	C = 	 	6
	 
	 	 	 	If 2011 net earning/2010 net earning >120%, C=6.5
If 2011 net earning /2010 net earning >135%, C=7

If 2011 net earning /2010 net earning >150%, C=8
	 
	 	provided that, the Company may elect at its sole discretion to pay cash or
procure the payment of cash to the Allottees in lieu of all or part of the Tranche B
Shares issuable to the Allottees under this Section 2.2(b)(ii), in which case, the
amount of cash payable in lieu of Tranche B Shares shall be equal to the number of
Tranche B Shares for which the Company has elected to pay cash (in lieu of issuance
of Tranche B Shares) under this Section 2.2(b)(ii) multiplied by

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Shares Issuance Agreement

	 	 	 	B;

(iii) the following number of Tranche C Shares on the Tranche C Completion Date:

	 	 	 	 	 
	X = 

	 	A x C x 20%	 	 
	 	 

B	 	 
	 

	 		 	 

	 	Where:	 	
	 
	 	X = 	 	the number of the Tranche C Shares (For the avoidance of doubt,
if the numerator of the above formula is by calculation is zero or less than
zero, X shall be automatically deemed as zero.)
	 
	 	A = 	 	the audited net profits of Yarun for the year end
31st December 2012 calculated in accordance with US GAAP with an
unqualified audit opinion (“Yarun 2012 Net Profits”)
	 
	 	B = 	 	the average of the closing price per Share for the ten (10)
trading days after the announcement of Listco’s audited accounts for the
financial year ended 31st December 2012
	 
	 	C = 	 	6
	 
	 	 	 	If 2012 net earning/2011 net earning >120%, C=6.5
If 2012 net earning /2011 net earning >135%, C=7

If 2012 net earning /2011 net earning >150%, C=8
	 
	 	provided that, the Company may elect at its sole discretion to pay cash or
procure the payment of cash to the Allottees in lieu of all or part of the Tranche C
Shares issuable to the Allottees under this Section 2.2(b)(iii), in which case, the
amount of cash payable in lieu of Tranche C Shares shall be equal to the number of
Tranche C Shares for which the Company has elected to pay cash (in lieu of issuance
of Tranche C Shares) under this Section 2.2(b)(iii) multiplied by B;

	(c)	 	if an IPO occurs after 31st December 2010 and before 31st December 2011
then the Company has the option to grant to Allottees shares or cash of Listco in equivalent
value:

(i) the following amount of Tranche A Shares on the Tranche A Completion Date:

	 	 	 	 	 
	X = 

	 	A x C x 40% - F - Yarun Equity Transfer Consideration	 	 
	 	 

B	 	 
	 

	 		 	 

	 	Where:	 	

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Shares Issuance Agreement

	 	X = 	 	the number of the Tranche A Shares (For the avoidance of doubt,
if the numerator of the above formula is by calculation is zero or less than zero,
X shall be automatically deemed as zero.)
	 
	 	A = 	 	Yarun 2011 Net Profits
	 
	 	B = 	 	the closing price for the 15 days before the completion of
Yarun Equity Transfer.
	 
	 	C = 	 	6
	 
	 	 	 	If 2011 net earning/2010 net earning >120%, C=6.5
If 2011 net earning /2010 net earning >135%, C=7

If 2011 net earning /2010 net earning >150%, C=8
	 
	 	F = 	 	Audit fee for years 2005 to 2011 US GAAP historical financial
report auditing
	 
	 	provided that, the Company may elect at its sole discretion to pay cash or
procure the payment of cash to the Allottees in lieu of all or part of the Tranche A
Shares issuable to the Allottees under this Section 2.2(c)(i), in which case, the
amount of cash payable in lieu of Tranche A Shares shall be equal to the number of
Tranche A Shares for which the Company has elected to pay cash (in lieu of issuance
of Tranche A Shares) under this Section 2.2(c)(i) multiplied by B;

(ii) the following amount of Tranche B Shares on the Tranche B Completion Date:

	 	 	 	 	 
	X = 

	 	A x C x 40%	 	 
	 	 

B	 	 
	 

	 		 	 

	 	Where:	 	
	 
	 	X = 	 	the number of the Tranche B Shares (For the avoidance of doubt,
if the numerator of the above formula is by calculation is zero or less than
zero, X shall be automatically deemed as zero.)
	 
	 	A = 	 	Yarun 2012 Net Profits
	 
	 	B = 	 	the average of the closing price per Share for the ten (10)
trading days after the announcement of Listco’s audited accounts for the
financial year ended 31st December 2012
	 
	 	C =	 	6
	 
	 	 	 	If 2012 net earning/2011 net earning >120%, C=6.5
If 2012 net earning /2011 net earning >135%, C=7

If 2012 net earning /2011 net earning >150%, C=8
	 
	 	provided that, the Company may elect at its sole discretion to pay cash or
procure the payment of cash to the Allottees in lieu of all or part of the Tranche B
Shares issuable to the Allottees under this Section 2.2(c)(ii), in which case,

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Shares Issuance Agreement

	 	the
amount of cash payable in lieu of Tranche B Shares shall be equal to the
number of Tranche B Shares for which the Company has elected to pay cash (in lieu of
issuance of Tranche B Shares) under this Section 2.2(c)(ii) multiplied by B; 

(iii) the following number of Tranche C Shares on the Tranche C Completion Date:

	 	 	 	 	 
	X =

	 	A x C x 20%	 	 
	 	 

B	 	 
	 

	 		 	 

	 	Where:	 	
	 
	 	X = 	 	the number of the Tranche C Shares (For the avoidance of doubt,
if the numerator of the above formula is by calculation is zero or less than
zero, X shall be automatically deemed as zero.)
	 
	 	A = 	 	the audited net profits of Yarun for the year end
31st December 2013 calculated in accordance with US GAAP with an
unqualified audit opinion (“Yarun 2013 Net Profits”)
	 
	 	B = 	 	the average of the closing price per Share for the ten (10)
trading days after the announcement of Listco’s audited accounts for the
financial year ended 31st December 2013
	 
	 	C = 	 	6
	 
	 	 	 	If 2013 net earning/2012 net earning >120%, C=6.5
If 2013 net earning /2012 net earning >135%, C=7

If 2013 net earning /2012 net earning >150%, C=8
	 
	 	 	 	
	 
	 	 	 	
	 
	 	provided that, the Company may elect at its sole discretion to pay cash or
procure the payment of cash to the Allottees in lieu of all or part of the Tranche C
Shares issuable to the Allottees under this Section 2.2(c)(iii), in which case, the
amount of cash payable in lieu of Tranche C Shares shall be equal to the number of
Tranche C Shares for which the Company has elected to pay cash (in lieu of issuance
of Tranche C Shares) under this Section 2.2(c)(iii) multiplied by B;

Section 2.3 Consideration for the Issued Shares

	(a)	 	In consideration for the Company’s issuance and allotment or procuring the issuance and
allotment of the Issued Shares, the Allottee undertakes that he shall not, at any time during
the period starting from the date hereof and ending on 31st December 2011, without
the prior written consent of the board, directly or indirectly engage in, or have any equity
interest in, provide any services, consulting or otherwise, or

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Shares Issuance Agreement

	 	 	manage or operate any person, firm, corporation, partnership or business (whether as
director, officer, employee, agent, representative, partner, security holder, consultant or
otherwise) that engages in any business which competes with any business of the Company or
its Affiliates.
	 
	(b)	 	The Allottee shall not, at any time during the period commencing from the date hereof and
ending on 31st December 2012, solicit or accept if offered to him, with or without
solicitation, on his own behalf or on behalf of any other person, the services of any person
who is an employee of the Company or its Affiliates or who was an employee of the Company or
its Affiliates at any time during the 12-month period preceding such solicitation activity or
acceptance, nor solicit any of the employees of the Company or its Affiliates to terminate
service with the Company or such Affiliates.
	 
	(c)	 	In the event the terms of this Section 2.3 shall be determined by any court of competent
jurisdiction to be unenforceable by reason of its extending for too long a period of time or
over too great a geographical area or by reason of its being too extensive in any other
respect, it will be interpreted to extend only over the maximum period of time for which it
may be enforceable, and/or over the maximum geographical area as to which it may be
enforceable and/or to the maximum extent in all other respects as to which it may be
enforceable, all as determined by such court in such action.

Section 2.4 Conditions Precedent to the Tranche A Completion

The Company’s obligation to issue or procure the issue of the Tranche A Shares at the Tranche A
Completion is subject to the fulfilment of the following conditions:

(a) (Accounts receivable requirement) in the event any of the accounts receivable booked as in
year end financial statement prior to Tranche A payment and not yet settled at the time of
Tranche A payment, the Company will withhold the relevant earn-out payment related to such
outstanding accounts receivable until it has been settled. For the avoidance of doubt, if
such accounts receivable become uncollectable, bad debts or treated as provision for doubtful
debts in the audited financial statements, the relevant earn out payment will no longer be
required.

	(b)	 	(IPO completion) The Company has completed IPO on a foreign stock exchange.
	 
	(c)	 	(Audit on Yarun for the Year prior to Year of IPO) the financial statements of Yarun for the
year immediately prior to Year of IPO have been audited with an unqualified audit opinion in
accordance with the US GAAP by an accounting firm designated by the Company, provided that
such audit shall occur and be completed no later than the date of IPO.

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Shares Issuance Agreement

	(d)	 	(Shareholders’ approval) if required by any stock exchange rules or the charter documents of
Listco, the shareholders of Listco have duly approved or consented to the issue of the Tranche
A Shares.
	 
	(e)	 	(Board approval) the board of directors of Listco has duly approved the issue of the Tranche
A Shares.
	 
	(f)	 	(Governmental approvals) in case Listco shall issue the Tranche A Shares, and if required by
any applicable laws, the Allottee has obtained all necessary PRC governmental approvals
(including without limitation the approvals required by relevant regulations promulgated by
the State Administration for Foreign Exchange with respect to overseas investments by PRC
individuals or entities) for the acceptance of the Tranche A Shares and provided all such
approval documents to Listco.
	 
	(g)	 	(Completion of Equity Transfer) the equity transfer under the Equity Transfer Agreement has
been completed, as evidenced by the satisfaction of all the conditions precedent to the
completion set forth in the Equity Transfer Agreement, including without limitation, WFOE
Redgate (  ) being registered as the sole shareholder of Yarun and the representatives
appointed by WFOE Redgate (  ) being registered as the directors and/or legal
representative of Yarun in accordance with the Equity Transfer Agreement.
	 
	(h)	 	(Representations and Warranties) the representations and warranties of the Allottee under
Section 6.1 of this Agreement and the representations and warranties of the Allottee under
Article 3 and Schedule 2 of the Equity Transfer Agreement are true and correct as of the
Tranche A CP Completion Date in all material respects, and the Allottee has performed and
complied in all material respects with all obligations and covenants as required by this
Agreement and the Equity Transfer Agreement as of the Tranche A CP Completion Date.
	 
	(h)	 	(No breach) the Allottee has not breached any terms and conditions of this Agreement.
	 
	(i)	 	(Profits Target) the profits target of Yarun for the year immediately prior to Year of IPO
set forth in Appendix 1 hereto has been satisfied. In case of Yarun doesn’t meet prior year
profit target, the Company will not make payment to Yarun.
	 
	(j)	 	(Advertising Sales Agency) the advertising sales agency agreements listed in Appendix 2
hereto which have been entered into by Yarun with the two (2) television channels remain in
full force and effect; provided that this condition may be waived by the Company in writing if
Yarun has made best effort to renew the two (2)

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Shares Issuance Agreement

	 	 	contracts or to facilitate other advertising
sales agency agreements with other television channels such that Yarun remains the advertising
agent for at least four television channels with the scale, terms and conditions of such
agreements similar to
the agreements listed in Appendix 2 and are to the reasonable
satisfaction of the Company.

Section 2.5 Conditions Precedent to the Tranche B Completion

The Company’s obligation to issue or procure the issue of the Tranche B Shares at the Tranche B
Completion is subject to the fulfilment of the following conditions if all the following conditions
having been satisfied:

(a) (Accounts receivable requirement) in the event any of the accounts receivable booked as in
year end financial statement prior to Tranche B payment and not yet settled at the time of
Tranche B payment, the Company will withhold the relevant earn-out payment related to such
outstanding accounts receivable until it has been settled. For the avoidance of doubt, if
such accounts receivable become uncollectable, bad debts or treated as provision for doubtful
debts in the audited financial statements, the relevant earn out payment will no longer be
required.

(b) (Audit on Yarun for the Year of IPO) the financial statements of Yarun for the Year of IPO
have been audited in accordance with the US GAAP with an unqualified audit opinion by an
accounting firm designated by the Company, provided that such audit shall occur and be
completed before the earlier of (i) the expiration of the first six (6) calendar months of the
first year following Year of IPO, (ii) the date of IPO.

(c) (Shareholders’ approval) if required by any stock exchange rules or the charter documents of
Listco, the shareholders of Listco have duly approved or consented to the issue of the Tranche
B Shares.

(d) (Board approval) the board of directors of Listco has duly approved the issue of the Tranche
B Shares.

(e) (Governmental approvals) in case Listco shall issue the Tranche B Shares, and if required by
any applicable laws, the Allottee has obtained all necessary PRC governmental approvals
(including without limitation the approvals required by relevant regulations promulgated by
the State Administration for Foreign Exchange with respect to overseas investments by PRC
individuals or entities) for the acceptance of the Tranche B Shares and provided all such
approval documents to Listco.

(f) (Representations and Warranties) the representations and warranties of the Allottee under
Section 6.1 of this Agreement and the representations and warranties of the Allottee under
Article 3 and Schedule 2 of the Equity Transfer Agreement are true and correct as of the
Tranche B CP Completion Date in all material respects, and the Allottee

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Shares Issuance Agreement

has performed and
complied in all material respects with all obligations and covenants as required by this
Agreement Equity Transfer Agreement as of the Tranche B CP Completion Date.

(g) (Occurrence of Tranche A Completion) the Tranche A Completion has taken place in accordance
with this Agreement.

(h) (No breach) the Allottee has not breached any terms and conditions of this Agreement.

(i) (Profits Target) the profits target of Yarun for the Year of IPO set forth in Appendix 1
hereto has been satisfied. In case of Yarun doesn’t meet prior year profit target, the Company
will not make payment to Yarun.

	(i)	 	(Advertising Sales Agency) the advertising sales agency agreements listed in Appendix 2
hereto which have been entered into by Yarun with the two (2) television channels remain in
full force and effect; provided that this condition may be waived by the Company in writing if
Yarun has made best effort to renew the two (2) contracts or to facilitate other advertising
sales agency agreements with other television channels such that Yarun remains the advertising
agent for at least four television channels with the scale, terms and conditions of such
agreements similar to the agreements listed in Appendix 2 and are to the reasonable
satisfaction of the Company.

Section 2.6 Conditions Precedent to the Tranche C Completion

The Company’s obligation to issue or procure the issue of the Tranche C Shares at the Tranche C
Completion is subject to the fulfilment of the following conditions:

(a) (Accounts receivable requirement) in the event any of the accounts receivable booked as in
year end financial statement prior to Tranche C payment and not yet settled at the time of
Tranche C payment, the Company will withhold the relevant earn-out payment related to such
outstanding accounts receivable until it has been settled. For the avoidance of doubt, if
such accounts receivable become uncollectable, bad debts or treated as provision for doubtful
debts in the audited financial statements, the relevant earn out payment will no longer be
required.

(b) (Audit on Yarun for the First Year following Year of IPO) the financial statements of Yarun
for the first year following Year of IPO have been audited in accordance with the US GAAP with
an unqualified audit opinion by an accounting firm designated by the Company, provided that
such audit shall occur and be completed before the earlier of (i) the expiration of the first
six(6) calendar months of the second year following Year of IPO, (ii) the date of IPO.

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Shares Issuance Agreement

(c) (Shareholders’ approval) if required by any stock exchange rules or the charter documents of
Listco, the shareholders of Listco have duly approved or consented to the issue of the Tranche
C Shares.

(d) (Board approval) the board of directors of Listco has duly approved the issue of the Tranche
C Shares.

(e) (Governmental approvals) in case Listco shall issue the Tranche C Shares, and if required by
any applicable laws, the Allottee has obtained all necessary PRC governmental approvals
(including without limitation the approvals required by relevant regulations promulgated by
the State Administration for Foreign Exchange with respect to overseas investments by PRC
individuals or entities) for the acceptance of the Tranche C Shares and provided all such
approval documents to Listco.

(f) (Representations and Warranties) the representations and warranties of the Allottee under
Section 6.1 of this Agreement and the representations and warranties of the Allottee under
Article 3 and Schedule 2 of the Equity Transfer Agreement are true and correct as of the
Tranche C CP Completion Date in all material respects, and the Allottee shall have performed
and complied in all material respects with all obligations and covenants as required by this
Agreement and the Equity Transfer Agreement as of the Tranche C CP Completion Date.

(g) (Occurrence of Tranche B Completion) the Tranche A Completion and the Tranche B Completion
shall have taken place in accordance with this Agreement.

(h) (No breach) the Allottee has not breached any terms and conditions of this Agreement.

(i) (Profits Target) the profits target of Yarun for the first year following Year of IPO set
forth in Appendix 1 hereto has been satisfied. In case of Yarun doesn’t meet prior year profit
target, the Company will not make payment to Yarun.

(j) (Advertising Sales Agency) the advertising sales agency agreements listed in Appendix 2
hereto which have been entered into by Yarun with the two (2) television channels remain in
full force and effect; provided that this condition may be waived by the Company in writing if
Yarun has made best effort to renew the two (2) contracts or to facilitate other advertising
sales agency agreements with other television channels such that Yarun remains the advertising
agent for at least four television channels with the scale, terms and conditions of such
agreements similar to the agreements listed in Appendix 2 and are to the reasonable
satisfaction of the Company.

Section 2.7 Reasonable Endeavors

Each Party shall use its reasonable endeavours to procure the fulfilment of the conditions
precedent as described under this Article 2, including procuring any third party to take all

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Shares Issuance Agreement

necessary actions and grant any necessary approvals. The Parties must keep each other
informed of any circumstances which may result in any condition precedent under this Article
2 not being satisfied in accordance with the terms hereof.

Section 2.10 Issuance of Shares

For the avoidance of doubt, the Company will consider issuing the Tranche A Shares, Tranche B
Shares and the Tranche C Shares (as the case may be) to the Allottees as contemplated hereunder
only if there is a successful IPO.

ARTICLE 3 Completion

Section 3.1 Time and Place of Completion

	 	(a)	 	Tranche A Completion will take place at 11am on the Tranche A Completion Date
at No.5 room, F8, CITIC Building or any other time and place agreed by the Company and
the Allottee.
	 
	 	(b)	 	Tranche B Completion will take place at 11am on the Tranche B Completion Date
at No.5 room, F8, CITIC Building or any other time and place agreed by the Company and
the Allottee.
	 
	 	(c)	 	Tranche C Completion will take place at 11am on the Tranche C Completion Date
at No.5 room, F8, CITIC Building or any other time and place agreed by the Company and
the Allottee.

Section 3.2 Allottee’s Obligations at Completion

	 	(a)	 	Unless otherwise waived in writing by the Company, on the Tranche A
Completion Date, the Allottee shall deliver to the Company satisfactory evidence that
WFOE Redgate  has been registered as the sole shareholder of Yarun and the
representatives appointed by WFOE Redgate  has been registered as the
directors and/or legal representative of Yarun in accordance with the Equity Transfer
Agreement, as well as other evidence that the conditions to be performed by the
Allottee on or before the Tranche A Completion as set forth in Section 2.4 of this
Agreement have been satisfied.
	 
	 	(b)	 	Unless otherwise waived in writing by the Company, on the Tranche B
Completion Date, the Allottee shall deliver to the Company satisfactory evidence
required by the Company showing the satisfaction of the conditions to

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Shares Issuance Agreement

	 	 	 	be performed by
the Allottee before Tranche B Completion as set forth in Section 2.5 of this
Agreement.
	 
	 	(c)	 	Unless otherwise waived in writing by the Company, on the Tranche C
Completion Date, the Allottee shall deliver to the Company satisfactory evidence
required by the Company showing the satisfaction of the conditions to be performed by
the Allottee before Tranche C Completion as set forth in Section 2.6 of this
Agreement.

Section 3.3 Company’s Obligations at Completion

Unless otherwise waived in writing by the Allottee, at each Completion, the Company shall: (a) in
the case of cash payment equivalent to the Issued Shares, make the applicable cash payment to the
Allottees by wire transfer of immediately available USD funds to the bank account designated in
writing by the Allottee prior to such Completion; or (b) in the case of the issuance of the Issued
Shares, take all necessary actions to issue the Tranche A Shares, Tranche B Shares or Tranche C
Shares (as applicable) to the Allottees, including without limitation, instruct Listco’s registered
agent to update the register of members of Listco, issue the share certificate to the Allottee
within ten (10) Business Days after respective Completion Date, and pass and deliver Listco’s board
resolutions approving the respective issuance of the Issued Shares.

ARTICLE 4 Special Covenants

Section 4.1 Extension of financial facilities by the Company

The Allottee warrants that Yarun’s cash flow is self sustainable on the current operation base and
Yarun does not require any new cash injection from Listco or the Company unless there is new
investment plan agreed by both the Allottee and the Company.

At the Company’s sole discretion, the Company may, and may cause its subsidiaries to, extend
financial facilities to Yarun as needed to assist it in its development of business.

Section 4.2 Covenants before Tranche C Completion

	 	(a)	 	Except as otherwise required by this Agreement or the Equity Transfer Agreement, no
resolution of the directors of Yarun shall be passed, nor any contract or commitment
entered into, in each case, from the date of IPO until the Tranche C Completion Date
without the prior written consent of the Company or WFOE Redgate , except for
(i) any board resolutions duly passed in the ordinary

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Shares Issuance Agreement

	 	 	 	course of business, and (ii) any
contracts and commitments entered into in the ordinary course of business and on arm’s
length terms and conditions provided that the Company is notified of the same in advance.
As manager of Yarun, the Allottee
shall devote substantially all his time to the business of Yarun and manage the operation
of Yarun in good faith.
	 
	 	(b)	 	The Allottee shall indemnify, defend and hold harmless the Company and its
Affiliates, officers, directors, agents and employees (each an “Indemnified Party”) from
and against all losses, damages, liabilities, claims, proceedings, costs and expenses
(including the fees, disbursements and other charges of counsel incurred by the
Indemnified Party in any action between the Allottee and the Indemnified Party or between
the Indemnified Party and any third party, in connection with any investigation or
evaluation of a claim or otherwise) resulting from or arising out of any breach by the
Allottee or Yarun of any representation or warranty, covenant or agreement in this
Agreement or in the Equity Transfer Agreement.

Section 4.3 Compliance with US GAAP and Information right of the Company

Yarun will compile its accounting book and financial report based on US GAAP. Yarun and Allottee
have obligation to report to the Company any information requested by the Company.

Yarun should engage, at its costs and expenses, one of big four international accountant firms
designated by the Company for annual audit.

Section 4.4 IPO

Each of the Parties agrees that it/he will use all reasonable endeavors to assist Listco in its
application for an IPO, including providing all information relating to itself or himself that is
necessary for the inclusion in the prospectus of Listco for the purpose of the IPO or as may be
required to be provided to the relevant stock exchange and governmental agency or authority,
signing and executing all necessary undertakings and documents and amending any terms and
conditions of this Agreement, as may be required by the applicable rules and regulations or the
relevant stock exchange and governmental agency or authority, or as may be required by the sponsors
or underwriters of the IPO.

ARTICLE 5 Company’s Warranties

Section 5.1 Accuracy of Statements

The Company represents and warrants to the Allottee that each of the following statements is true
and accurate in all material respect as of the date of this Agreement and as of the Tranche A
Completion Date, the Tranche B Completion Date and the Tranche C Completion Date as if made on each
of those dates:

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Shares Issuance Agreement

(a) (Organization, Good Standing and Qualification) The Company is duly organized, validly
existing and in good standing under, and by virtue of, the laws of the place of its
incorporation or establishment and has all required power and authority to own its
properties and assets and to carry on its business as now conducted or proposed to be
conducted;

(b) (Power) The Company has full power and authority to enter into this Agreement and perform its
obligations hereunder and has obtained all necessary consents and authorizations to enable it
to do so;

(c) (Binding Obligation) Assuming the due authorization, execution and delivery hereof by the
Allottee and WFOE Redgate (  ), this Agreement constitutes valid and binding obligations
upon the Company and is enforceable against it in accordance with its terms, except such
enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization,
moratorium or other similar laws of general application affecting creditors’ rights and (ii)
laws relating to the availability of specific performance, injunctive relief, or other
equitable remedies;

(d) (No Breach) The execution of this Agreement and the occurrence of the Completions do not, and
will not, conflict with or result in a breach of any obligation (including any statutory,
contractual or fiduciary obligation) by the Company or constitute or result in any default
under any provision of its constitution or any material provision of any agreement, deed,
writ, order, injunction, judgment, law, rule or regulation to which it is a party or by which
it is bound;

(e) (No Litigation; No Material Change) There is no action, suit, or other court proceeding
pending, threatened or instituted against the Company seeking to enjoin it from entering into,
or challenge the validity of this Agreement, or assert any liability against the Company.
There has been no material adverse change to the business operation of the Company;

(f) (No Creditors Arrangement) No voluntary arrangement has been proposed or reached with any
creditors of the Company;

(g) (Solvency) The Company is able to pay its debts as and when they fall due.

Section 5.2 Separate Warranties

Each warranty hereof shall be treated as a separate representation and warranty. The interpretation
of any statement made may not be restricted by reference to or inference from any other statement.

ARTICLE 6 Allottee’s Warranties

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Shares Issuance Agreement

Section 6.1 Accuracy of Statements

The Allottee represents and warrants to the Company that each of the following statements is true
and accurate in all material respect as of the date of this agreement and as of the Tranche A
Completion Date, Tranche B Completion Date and Tranche C Completion Date as if made on each of
those dates:

(a) (Power) The Allottee has full power and authority to enter into this Agreement and perform
its obligations hereunder and has obtained all necessary consents and authorizations to enable
him to do so;

(b) (Binding Obligation) Assuming the due authorization, execution and delivery hereof by the
Company and WFOE Redgate (  ), this Agreement constitute valid and binding obligations
upon the Allottee and is enforceable against it in accordance with its terms;

(c) (No Breach) The execution of this Agreement and the occurrence of the Completions do not, and
will not, conflict with or result in a breach of any obligation (including any statutory,
contractual or fiduciary obligation) by the Allottee or constitute or result in any default
under any provision of its constitution or any material provision of any agreement, deed,
writ, order, injunction, judgment, law, rule or regulation to which it is a party or by which
it is bound;

(d) (No Litigation) There is no action, suit, or other court proceeding pending, threatened or
instituted against the Allottee seeking to enjoin it from entering into, or challenge the
validity of this Agreement, or assert any liability against the Allottee;

(e) (Compliance with Laws and Agreements) The execution and delivery of, and the performance
under, this Agreement by the Allottee will not conflict with any rule, regulation, judgment or
agreement applicable to the Allottee, including regulations with respect to offshore
investment by PRC individuals or entities. All actions on the Allottee’s part required for
valid execution and delivery of this Agreement have been taken prior to the date of this
Agreement. It is not necessary for the Allottee to obtain any consents or approvals from, or
file a record with, any third party or government authority in connection with the acceptance
of the Issued Shares in accordance with this Agreement. The Allottee has not breached any
terms or conditions herein or under the Equity Transfer Agreement;

Section 6.2 Separate Warranties

Each warranty hereof shall be treated as a separate representation and warranty. The
interpretation of any statement made may not be restricted by reference to or inference from any
other statement.

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Shares Issuance Agreement

Section 6.3 Agreement

The Allottee agrees, in consideration of the issuance of the Issued Shares, to be bound by all the
terms and provisions of the memorandum and articles of association of Listco. The Allottee also
agrees that he will enter into any shareholders agreements then in force among the shareholders of
Listco (if any) upon his becoming a member of Listco.

ARTICLE 7 Confidentiality

Section 7.1 Disclosure of Confidential Information

Each Party acknowledges that all Confidential Information exchanged between the Parties
in connection with this Agreement or during the negotiations preceding this Agreement is
confidential to them and shall not be disclosed by it to any third party except:

	(a)	 	the disclosure of the Confidential Information to the employees, legal advisers, auditors and
other consultants to the Parties or its Affiliates for the purposes of performance of this
Agreement and on a need-to-know basis;

(b) the disclosure with the written consent of the Party who supplied the information
(“Disclosing Party”), which consent may be given or withheld at such Disclosing Party’s
absolute discretion;

(c) as required by law, government authorities, exchanges and/or regulatory bodies to which it is
subject; or

(d) as required to do so in connection with legal proceedings relating to this Agreement.

ARTICLE 8 Announcements

Section 8.1 Public Announcements

Subject to Section 8.2 below, no public announcement, communication or circular concerning the
transactions referred to in this Agreement may be made or sent by any Party unless it has first
obtained the written consent of the other Party, provided that such consent shall not be
unreasonably withheld or delayed.

Section 8.2 Public Announcements Required by Law

Notwithstanding the foregoing, Section 8.1 does not apply to a public announcement, communication
or circular made by any Party as required by law, government authorities, exchanges and/or
regulatory bodies to which it is subject, provided that such Party has, if

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Shares Issuance Agreement

practicable, first
consulted and taken into account the reasonable requirements of the other Parties before such
announcements.

ARTICLE 9 Costs and Taxes

Section 9.1 Costs and Expenses

The Parties agree to pay their own legal and other costs and expenses in connection with the
negotiation, preparation, execution and performance of this Agreement and of other related
documentation.

Section 9.2 Taxes

All sums payable and all Shares issuable by the Company to the Allottees hereunder shall be made
without withholding or deduction of any taxes, assessment or other charges (“Taxes”). Each of the
Allottees acknowledges and agrees that he is responsible for the settlement of all Taxes in
connection with the allotment issuance of the Issued Shares. For the purpose of the foregoing, all
Parties agree that the Company may withhold from the sums payable to the Allottees the amount of
Taxes payable by the Allottees and pay such amount to the relevant governmental authority on behalf
of the Allottees. The Company may also withhold the allotment of Shares issuable to the Allottees
hereunder until the Allottees have on their account settled all the applicable Taxes in connection
with the transaction contemplated hereunder.

ARTICLE 10 Notices

Section 10.1 Form

Unless expressly stated otherwise in this Agreement, all notices, certificates, consents,
approvals, waivers and other communications in connection with this Agreement must be in writing,
signed by the sender (in case of individual) or an authorised officer of the sender (in case of
company) and marked for the attention of the person set forth in Section 10.2(b) or, if the
recipient has previously notified otherwise, then marked for in the manner last notified by such
recipient.

Section 10.2 Notices

	(a)	 	Any notice or other communication shall be deemed to have been served or delivered if sent to
the address, or facsimile number (as the case may be) set out in this paragraph (a), the time
of such delivery or service shall be determined as follows:

	 	(i)	 	if by facsimile, at the time of dispatch to the relevant number; or

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Shares Issuance Agreement

	 	(ii)	 	if by hand, at the time of delivery to the relevant address; or
	 
	 	(iii)	 	if by post, the second (2nd) Business Days after being put in the post
properly addressed to the relevant addressee with pre-paid postage,

provided that any notice or communication that is not dispatched on a Business Day
shall be deemed to have been dispatched on the immediately subsequent Business Day.

	(b)	 	For the purposes of this Agreement, the following addresses and facsimile numbers shall be
used for serving notices on the named Parties (unless the Party to be served shall have
notified the Party serving the notice in advance and in writing of any change(s) of the same):

ALLOTTEES:

Address: Room 403, Sheng’ai Building, No.88 Caoxi North Road, Shanghai,, China

Fax: 021-64383327

WFOE Redgate  (  ) :

Attention: Zhu Ying

Address: Room 804, 2nd Building, No.19 JianWai Street, Chaoyang District, Beijing,

China

Fax: 010-85263129

Company:

Attention: Zhu Ying

Address: Room 2703, 27th Floor, The Centrium, 60 Wyndham Street, Central, Hong

Kong

Fax: (852) 8106 8655

ARTICLE 11 General Provisions

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Shares Issuance Agreement

Section 11.1 Discretion in Exercising Rights

A Party may exercise a right or remedy or give or withhold its consent in any way it considers
appropriate (including by imposing conditions), unless this Agreement expressly states otherwise.

Section 11.2 Rights Cumulative

Each and all of the various rights, powers and remedies of a Party hereto will be considered to be
cumulative with and in addition to any other rights, powers and remedies which such Party may have
at law or in equity in the event of the breach of any of the terms of this Agreement. The exercise
or partial exercise of any right, power or remedy will neither constitute the exclusive election
thereof nor the waiver of any other right, power or remedy available to such Party.

Section 11.3 Approvals and Consents

A Party may give conditional or unconditional approval or consent or withhold its approval or
consent in its absolute discretion unless this Agreement expressly provides otherwise. A party by
giving its approval or consent does not mean such Party has made or given any warranty or
representation as to any circumstance relating to the subject matter of the consent or approval.

Section 11.4 Amendment and Waiver

Any term of this Agreement may be amended and the observance of any term of this Agreement may be
waived (either generally or in a particular instance and either retroactively or prospectively),
only with the written consent of the Parties hereto and their permitted assigns and transferees.
Any amendment or waiver effected in accordance with this paragraph shall be binding upon the
parties hereto and their respective successors and assigns. No failure or delay by any Party in
exercising any right, power or remedy under this Agreement shall operate as a waiver thereof, nor
shall any single or partial exercise of the same preclude any further exercise thereof or the
exercise of any other right, power or remedy. Without limiting the foregoing, no waiver by any
Party of any breach by the other Parties of any provision hereof shall be deemed to be a waiver of
any subsequent breach of that or any other provision hereof. If at any time any provision of this
Agreement is or becomes illegal, invalid or unenforceable in any respect, the legality, validity
and enforceability of the remaining provisions of this Agreement shall not be affected or impaired
thereby.

Section 11.5 Survival of Warranties

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Shares Issuance Agreement

The warranties, undertakings and indemnities in this Agreement shall survive the Tranche A
Completion, Tranche B Completion and Tranche C Completion.

Section 11.6 Indemnities

The indemnities in this Agreement are continuing obligations, independent from the other
obligations of the Parties under this Agreement and continue in full force and effect after the
termination of this Agreement. It is not necessary for a Party to incur any expense or make any
payment before enforcing a right of indemnity under this Agreement.

Section 11.7 Entire Agreement

This Agreement constitutes the entire agreement and understanding among the Parties about its
subject matter and supersedes all previous agreements, understandings and negotiations (whether
written or oral) between all or any of them in respect of the same, in particular the Share
Issuance Agreement entered into among the Parties dated April 8, 2008. In the event that the
Parties execute both the Chinese version and English version of this Agreement, then the English
version shall prevail.

Section 11.8 Construction

No rule of construction applies to the disadvantage of a Party because that Party was responsible
for the preparation of, or seeks to rely on, this Agreement or any part of it.

Section 11.9 Termination

This Agreement can be terminated by mutual consent of the Parties in writing and will be terminated
automatically at the termination of the Equity Transfer Agreement.

ARTICLE 12 Governing Law and Dispute Resolution

Section 12.1 Governing law

This Agreement is governed by the laws of the Hong Kong, without regard to principles of conflicts
of law thereunder.

Section 12.2 Dispute Resolution

	(a)	 	Any dispute, controversy or claim arising out of or relating to this Agreement, or the
interpretation, breach, termination or validity hereof, shall first be subject to resolution
through consultation of the Parties to such dispute, controversy or claim. Such

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Shares Issuance Agreement

	 	 	consultation
shall begin within seven (7) days after one Party hereto has delivered to each of the other
Parties hereto a written request for such consultation. If such consultation can not resolve
the dispute or claim within thirty (30) days following the commencement of such consultation
(“Consultation Period”), then the Parties or their representatives, as the case may be, shall,
within thirty (30) days after the expiry of the Consultation Period to meet in person and
attempt to resolve the dispute or claim in good
faith. If within thirty (30) days following the commencement of such meeting the dispute cannot
be resolved, the dispute shall be submitted to arbitration upon the request of any Party with
notice to the others.
	 
	(b)	 	The arbitration shall be conducted in Hong Kong under the auspices of the Hong Kong
International Arbitration Centre (the “Centre”). There shall be a single arbitrator who shall
be agreed upon by the parties or, failing which, who shall be selected by the then President
of the Centre.
	 
	(c)	 	The arbitration proceedings shall be conducted in English. The arbitration tribunal shall
apply the UNCITRAL Arbitration Rules then in force as administrated by the Centre in effect at
the time of the arbitration.

ARTICLE 13 Counterparts

This Agreement may be executed in any number of counterparts, each signed by the Parties to
this Agreement. Each of the signed copies so executed shall be an original, but all of which shall
together constitute one and the same instrument.

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IN WITNESS WHEREOF, this Agreement has been signed on behalf of each of the Parties hereto as
of the date first written above.

	 	 	 	 	 
	Redgate Media Group

 	 	 
	By	 	/s/ Brack, Peter Bush 	 	 
	 	 	Name:  Brack, Peter Bush 	 	 
	  	 	Title: Chairman & CEO 	 	 

Redgate Interactive Advertising (Beijing) Co., Ltd. 
 (  )

	 	 	 	 	 
	By	 	/s/ Zhu Ying 	 
	  	 	Name:  Zhu Ying 	 	 
	  	 	Title: Board Chairman 	 	 

	 	 	 	 	 
	Allottee

Weidong Zhu

 	 	 
	 By
	 	/s/ Weidong Zhu	 	 

	 	 	 	 	 
	Zhenhui Wang

 	 	 
	By  	 	   /s/ Zhenhui Wang	 	 

	 	 	 	 	 
	Wenhua Cao

 	 	 
	By  	 	/s/ Wenhua Cao 	 	 

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Shares Issuance Agreement

Appendix 1

Profits Target

Profits Target for Year 2008 = 13.00 million RMB

Profits Target for Year 2009 = 14.95 million RMB

Profits Target for Year 2010 = 17.19 million RMB

Profits Target for Year 2011 = 19.77 million RMB

Profits Target for Year 2012 = 22.74 million RMB

Profits Target for Year 2013 = 26.15 million RMB

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Appendix 2

Advertising Sales Agency Agreements

Sichuan Science & Education Channel

Ad-agency Cooperation Agreement 2009

Party A: Chengdu Tiandi Tongchuang Advertising Co., Ltd.

Party B: Shanghai Yarun Media Culture Co., Ltd.

Whereas, Party A has entered into an agreement with Sichuan TV Station Science & Education Channel,
under which Party A may obtain the ad-agency right to certain slots, and Party B is an advertising
company with rich experience in media operation, NOW, THEREFORE, the Agreement is made by and
between the Parties through sufficient and amiable negotiation in connection with cooperative
operation of certain advertising slots on “Sichuan TV Station Science & Education Channel” in
accordance with the Contract Law of the People’s Republic of China and other laws and regulations
on advertising administration.

1. Cooperation Projects

1.1 The cooperation projects hereunder shall be the advertising slots for the following programmes
on Sichuan Science & Education Channel:

	 	 	 	 	 
	17: 35—19: 10

	 	Film Discussion
	 	17-minute advertising time
	 
	 	 	 	 
	21: 30—22: 00

	 	City Stories
	 	6-minute advertising time
	 
	 	 	 	 
	22: 00—24: 00

	 	Overseas Theater
	 	22-minute advertising time
	 
	 	 	 	 
	12: 05—13: 40

	 	Film Discussion (replay)
	 	17-minute advertising time
	 
	 	 	 	 
	13: 50—14: 20

	 	City Stories (replay)
	 	6-minute advertising time
	 
	 	 	 	 
	14: 35—16: 40

	 	Overseas Theater (replay)
	 	22-minute advertising time

In total 90-minute advertising time every day.

1.2 The agency period shall be from January 1, 2009 to December 31, 2009.

2. General Principles of Cooperation

2.1 Party B shall ensure the accomplishment of the minimum business volume for the project in the
year, namely, RMB13, 000,000; otherwise, Party B shall be responsible for making up the balance, if
any.

2.2 Party B shall pay RMB1,000,000 to Party A as the performance bond, which may be used to offset
the advance payment for ad-agency right at the time of payment on November 25, 2009.

2.3 Profit distribution: if the balance of the annual business volume after deduction of 25% of the
operating costs of the Parties is less than RMB13,000,000, the difference shall be compensated by
Party B; if the balance is more than RMB13,000,000, the excess shall be distributed to the Parties
according to the following proportion: 30% to Party A and 70% to Party B. The Parties shall be
responsible for their respective taxes payable.

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3. Payment Method and Deadline for Ad-agency Fee

3.1 Party B agrees to pay RMB1,000,000 to Party A as the performance bond within fifteen (15) days
from the effective date of the Agreement.

3.2 Party B shall, as of the effective date of the Agreement, pay RMB1,083,300 in advance as the
advertising fee of the following month to the account designated by Party A on or prior to the
25th day of every month. The initial payment shall be remitted to the account designated
by Party A on or prior to December 25, 2008. No payment shall be required where the amount paid
reaches RMB13,000,000 (including RMB1,000,000 as the performance bond).

4. The Parties agree that

1) Party A shall ensure that Sichuan TV Station Science & Education Channel can provide the agency
qualification certification to Party B in time;

2) Party A shall ensure that the agency agreement with Sichuan TV Station Science & Education
Channel remains effective and valid in 2009;

3) Party B shall take charge of formulating such policies on advertising rate, discount and bonus,
which shall be implemented strictly upon formulation;

4) Party B shall take charge of business with clients out of Sichuan; all orders and release
agreements shall be submitted to Party A in writing for record filing.

5) Party A shall take charge of local clients in Sichuan; all orders and release agreements shall
be submitted to Party B in writing for record filing. The business volume shall be reckoned in the
minimum business volume, and the advertising fee shall be deducted from the deposit payable by
Party B on the 25th day of the next month after the broadcasting day;

6) Party B shall have the priority in case of any conflicts between clients of the Parties;

7) Party B may develop local clients in Sichuan where the release volume of the first quarter is
less than RMB500,000;

8) Party B shall take charge of arrangement for advertisement position and preparation of
advertising orders or copies;

9) Party A shall take charge of coordination with Sichuan TV Station Science & Education Channel;

10) The Parties shall check the operation and finance conditions (written records) once every
month; and

11) The agreement between Party A and the Station shall be deemed as an appendix to the Agreement.

5. Liability for Breach of Contract

5.1 Where Party A intends to terminate the Agreement unilaterally other than as a result of force
majeure within the term hereof, it shall express its intention at least two (2) months in advance
and compensate RMB1,083,300 to Party B.

5.2 Where Party A intends to terminate the Agreement unilaterally as a result of force majeure
within the term hereof, it shall notify Party B in advance. Where the advertisements provided by
Party B cannot be broadcast completely or in good quality or in full quantity, and can not be
prolonged, the ad-agency fee of RMB1,083,300 in the current month shall be refunded to Party B.

5.3 Where Party B fails to pay the ad-agency fee to Party A according to the schedule and amount
agreed herein, it shall pay the late fee to Party A at the rate of
0.5‰ of the amount payable for
each day overdue; in case of non-payment within 25 days from the due day, Party A shall have the
right to

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terminate the Agreement.

5.4 Where Party B fails to perform the Agreement, the performance bond shall first be used to
offset the insufficient amount of the monthly ad-agency fee hereunder. In case Party B fails to
perform the Agreement, the performance bond shall not be refunded.

5.5 Where Party B cannot perform the Agreement due to improper management within the term of the
Agreement, it shall propose to terminate the Agreement at least two (2) months in advance and
compensate one-month ad-agency fee to Party B, namely, RMB1,083,300.

5.6 Each party shall be solely and fully responsible for those advertisement contents and release
procedures of its own clients which are in violation of laws, regulations and decrees.

6. Dispute Settlement

All disputes arising from the performance of the Agreement shall be settled through negotiation
between the Parties; where negotiation fails, the dispute concerned shall be submitted to the
People’s Court with jurisdiction at the place where either party is located.

7. The Agreement shall be made in two copies with equal legal force, one for each party. The
Agreement shall take effect with signatures and official seals by the Parties’ authorized
representatives. Any matter uncovered herein may be specified in a supplementary agreement, which
shall be deemed as an appendix to the Agreement; In case of any conflicts between the supplementary
agreement and the Agreement, the former shall prevail.

Party A (seal): Chengdu Tiandi Tongchuang Advertising Co., Ltd.

Authorized representative (signature):

Add.:

Date: December 5, 2008

Party B (seal): Shanghai Yarun Media Culture Co., Ltd.

Authorized representative (signature):

Add.: Room 403, Sheng’ai Plaza, No. 88 Caoxi N. Road, Shanghai, China

Date: December 5, 2008

Appendix: Ad-agency Contract between Party A and Sichuan TV Station Science & Education Channel

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Exclusive Agency Contract

for

Advertisements on Tianjin TV Station Sports Channel

Party A: [Tianjin TV Station Advertising Department]

Agent:

Add.: 3/F, Tianyu Hotel, No. 19 Diantai Street, Heping District, Tianjin, China

Party B: Shanghai Yarun Media Culture Co., Ltd.

Agent: Weidong Zhu

Add.: Room 403, Sheng’ai Plaza, No. 88 Caoxi N. Road, Shanghai, China

The Contract (“Contract”) is made by and between the Parties through amiable negotiation concerning
the exclusive right to advertisements on Tianjin TV Station Sports Channel and in accordance with
the Contract Law of the People’s Republic of China, the Advertising Law of the People’s Republic of
China and other applicable laws and regulations.

Article 1 Subject Matter

Exclusive right to advertisements on Tianjin TV Station Sports Channel.

Article 2 Agency Period

From March 1, 2009 to December 31, 2011.

Article 3 Grant of Ad-agency Right

3.1 According to the terms and conditions of the Contract, Party A agrees to grant Party B the
exclusive right to advertisements on Tianjin TV Station Sports Channel from March 1, 2009 to
December 31, 2011, particularly from power on at 7:00 every day to power off at about 2:00 before
dawn of the next day, as well as during games transmission before dawn. The advertising period will
be 228 minutes per day; in case of excess, the Parties shall negotiate about the payment standards
otherwise.

3.2 The advertising patterns to the extent of the exclusive right granted to Party B include brand
ads, special ads, programme naming, background panel, table-edge board and corner mark. With
respect to large-scale games or activities hosted by Tianjin TV Station and undertaken by Sports
Channel, Party B shall have the right to insert advertisements in live or video broadcast, provided
that such rights and interests as activity naming, special broadcast, background board and dresses
shall vest in Party A. Party A shall have the right to decide on the advertising patterns and
contents.

3.3 The film advertisements of the programmes on Party A’s Sports Channel shall not be in the
agency scope of Party B. However, film advertisements must be provided by film operators and
broadcast together with the programmes, and separation or removal is prohibited. However, the

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Shares Issuance Agreement

proportion of the length of film advertisements to that of the programmes concerned shall be
reasonable and notified to Party A in advance.

Article 4 Rights and Obligations of the Parties

4.1 Party A’s rights and obligations

1) Party A shall coordinate with Tianjin TV Station Sports Channel to ensure the relative stability
of the programmes and advertising slots on the channel as far as possible. However, Tianjin TV
Station Sports Channel shall have the right to adjust reasonably the programmes on the channel
according to the overall programme arrangement of Tianjin TV Station. Within the term of the
Contract, the programme arrangement of Tianjin TV Station Sports Channel shall be subject to the
programme schedule provided by the Channel in the current year. Party A shall have the right to
adjust reasonably the prevailing programme schedule according to the demands for games
transmission, provided that Party A shall notify Party B three (3) working days in advance of
temporary adjustment, or two (2) weeks in advance of material revision.

2) Party A shall coordinate with Tianjin TV Station Sports Channel to ensure the transmission
(including, but not limited to, live broadcast, recorded broadcast and delayed broadcast) of
regular games of the previous years on the Channel as far as possible. With respect to
international and domestic major sports games, Tianjin TV Station Sports Channel shall do its
utmost to make coordination to transmit and report such games as far as possible. Failure to
transmit certain games due to “reasons not attributable to Tianjin TV Station Sports Channel” shall
not constitute Party A’s breach of contract, provided that Party A shall inform Party B in advance.

3) Party A shall be responsible for final examination and broadcasting of the advertisement
contents and patterns. Party A shall have the right to refuse to broadcast the advertisements which
are not examined, in which case, Party B shall assume relevant liabilities arising therefrom.

4) Party A shall ensure that the advertising time of Tianjin TV Station Sports Channel will conform
to the provisions of the State Administration of Radio Film and Television.

5) Party A shall have the right to adjust the programmes on Tianjin TV Station Sports Channel as
required by significant publicity tasks of the Country and Tianjin Municipality, provided that
Party A shall inform Party B of the adjustment information in advance.

6) Party A shall arrange and broadcast advertisements strictly according to the release sheets and
orders provided by Party B and provide Party B with the broadcasting certifications issued by a
third person broadcasting supervision company in time. In case of any errors and omissions due to
any reason attributable to Party A, Party A shall take remedies on the principle of “once for each
error and twice for each omission”.

7) Except for film advertisements and propaganda films concerning channels and columns according to
Article 1.3 hereof, Party A may not broadcast any paid advertisement in any form. Where the volume
of the advertisements solicited by Party B fails to reach the maximum capability of Tianjin TV
Station Sports Channel, Party A shall have the right to broadcast various propaganda films of
Tianjin TV Station.

8) Party A shall coordinate with Tianjin TV Station Sports Channel to broadcast more games and
improve programme quality as far as possible and do its utmost to ensure that the Channel can
obtain more satisfactory results in audience rating in 2009, 2010 and 2011.

9) Party A shall release the programme introduction and advertising information of Tianjin TV

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Station Sports Channel on relevant pages of the websites of Tianjin TV Station. In case of any
change, Party A shall do its utmost to correct relevant information on the websites in time.

10) Party A shall have the right to fix the advertising price of Tianjin TV Station Sports Channel
in 2009, 2010 and 2011 for the purpose of unifying the advertising rates of all channels of Tianjin
TV Station.

11) Party A shall issue to Party B certain certification documents such as “Exclusive Agency
Qualification for Advertisements on Tianjin TV Station Sports Channel”.

4.2 Party B’s rights and obligations

1) Party B may exercise its exclusive agency rights to programs on Tianjin TV Station Sports
Channel on the principle of self-promotion and self-operation.

2) Party B shall own all incomes earned from all advertisements under its exclusive agency right.
Advertising rights and interests concerning competitions and interaction sections (including, but
not limited to, short message, telephone and voice calls) of various programmes on Tianjin TV
Station Sports Channel, as well as relevant incomes, shall be distributed to the Parties according
to the agreed proportion; such incomes shall not be reckoned in the total amount of exclusive
ad-agency in any year and shall be specified in the supplementary agreements.

3) Party B shall ensure to make payment to Party A on schedule according to the payment methods as
mentioned herein.

4) The advertisements released by Party B shall conform to the provisions of the Advertising Law of
the People’s Republic of China.

5) During the performance of the Contract, Party B may promote Party A’s “programmes and
advertising business on Tianjin TV Station Sports Channel” to which Party B has the operation right
on Internet in its own name.

6) Party B shall have the right to invite advertising investment in the name of “exclusive ad-agent
of Tianjin TV Station Sports Channel”.

7) With respect to various advertisements (including, but not limited to, brand ads, special ads,
title naming, sponsor billboard, corner mark, background panel and table board) designed, shot and
produced by Party A at Party B’s requests, Party A will charge the fee from Party B according to
the charge standards of Tianjin TV Station for advertisement production.

Article 5 Performance Bond and Payment Method

5.1 The exclusive agency fee from March 1, 2009 to the end of February, 2010 shall be
RMB40,000,000, and Party B shall pay the agency fee of the following month on the 25th
day of every month, namely, RMB3,333,300. The exclusive agency fee from March 1, 2010 to the end of
February, 2011 shall be RMB43,000,000, and Party B shall pay the agency fee of the following month
on the 25th day of every month, namely, RMB3,583,300. The exclusive agency fee from
March 1, 2011 to the end of December, 2011 shall be RMB42,000,000, and Party B shall pay the agency
fee of the following month on the 25th day of every month, namely, RMB4,200,000. The
buyout agency fee for the three years shall be RMB125,000,000.

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5.2 Party B shall, after executing the Contract, pay the deposit (10% of the committed advertising
amount in the year) to Party A on the lump-sum basis within the term of the Contract. The detailed
schedule and amount shall be as follows:

Prior to February 25, 2009, paying RMB4,000,000 to Party A as the performance bond in 2009;

Prior to February 25, 2010, paying RMB4,300,000 to Party A as the performance bond in 2010;

Prior to February 25, 2011, paying RMB4,200,000 to Party A as the performance bond in 2011;

Party B’s failure to pay the deposit on schedule shall constitute a breach of contract and entitle
Party A to terminate the Contract immediately. The deposit may b used to offset the balance of the
advertising fee in the year only when Party A accomplishes the committed advertising volume on
schedule in the year; otherwise, Party A shall have the right to make deduction from the deposit.

Article 6 Rescission of the Contract

Either party hereto that intends to rescind the Contract must issue a notice to the other party
sixty (60) days in advance, and may not rescind the Contract without the consent of the other
party.

Article 7 Liability for Breach of Contract

7.1 Party B’s failure to make payment to Party A within the agreed period herein shall entitle
Party A to immediately cease broadcasting various advertisements arranged by Party B

7.2 Either party hereto that terminates the Contract without justified reasons or in violation of
the terms of the Contract shall pay the penalty to the other party at the rate of 10% of the total
amount of annual exclusive agency.

Article 8 Miscellaneous

8.1 Neither party shall be responsible for its delay in performing the Contract or failure to
perform its obligations hereunder as a result of force majeure within the term of the Contract,
provided that the affected party shall take necessary, proper and reasonable measures in time to
minimize the losses arising therefrom. The Parties may decide through negotiation in good faith
whether to rescind the Contract, to release part of obligations hereunder or extend the performance
period according to the impacts upon the Contract due to force majeure.

The affected party shall inform the other party of the force majeure event in writing within two
(2) days upon occurrence of the event, and, within fifteen (15) days upon occurrence of the event,
provide the details about the force majeure event and relevant valid certifications and documents,
proving that the Agreement cannot be performed completely or partially or needs be extended.

Force majeure means 1) natural disaster which cannot be overcome; 2) war, fire and explosion; 3)
other events which cannot be foreseen, prevented or avoided.

8.2 Neither party may transfer the Contract or any of its rights or obligations hereunder without
the other party’s prior written consent.

8.3 The Parties shall procure their respective personnel aware of the Contract not to disclose the
Contract.

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8.4 The Contract shall be made in Chinese in four copies with equal legal force, two for each
party.

8.5 The Contract shall become effective immediately with signatures and seals of the Parties.

	 	 	 
	Party A: Tianjin TV Station Advertising Department

	 	Party B: Shanghai Yarun Media Culture Co., Ltd.
	 
	 	 
	Representative (signature):

	 	Representative (signature):
	 
	 	 
	Date:

	 	Date:

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Ad-agency Contract

Party A (Board Owner): Wuhan Broadcasting & TV Station Advertising Department

Party B (Board Buyer): Shanghai Yarun Media Culture Co., Ltd.

The Contract is made by and between the Parties through sufficient negotiation concerning Party B’s
successful bid for the advertising slot on Party A’s WHTV-5, on the principles of good
faith, equality and mutual benefit in accordance with the Contract Law of the People’s Republic of
China, the Advertising Law of the People’s Republic of China, the Instructions on Advertising Bids
2008 of Wuhan Broadcasting & TV Station and other pertinent regulations.

1. The agency period shall be from January 1, 2008 to December 31, 2009. The
detailed advertising slots and boards are as follows:

Daytime and evening advertising slots on WHTV-5, and naming right of sports games advertisements on
sports columns on the channel. Art column on the channel, advertising slots and resources in
connection with important entertainment evenings and large-scale activities arranged by the
Broadcasting & TV Bureau shall not be the subject matter of the Contract. The total advertising
time shall be subject to pertinent regulations of the State Administration of Radio Film and
Television, but in no case may exceed 20% of the duration of the programme. In case of adjustment
of the advertising slots due to channel revision, the adjusted schedule shall prevail.

2. The total amount of the accepted advertising fee is RMB eleven million one hundred and
seventy thousand only in 2008 and RMB twelve million two hundred and eighty-seven thousand
only in 2009.

3. Party B shall submit the proposed advertisement video tapes to Party A for examination and
confirmation at least five (5) working days in advance. Advertisement broadcasting shall comply
with national and local advertising laws and regulations; otherwise, Party A shall have the right
to refuse broadcasting or even terminate the Contract in case of serious default.

4. Party B’s advertisements may not go beyond the agreed time and standards; otherwise, Party A
shall have the right to refuse broadcasting.

5. Advertisement production and release shall comply with Party A’s regulations.

6. No compensations shall be made for any change in the original advertising slots as a result of
force majeure, act of government or revision of channels. In case of long-term revision, the
Parties may negotiate about resolutions in light of actual circumstances.

7. Payment Method

1) Party B shall, within three (3) days after winning the bid, pay the performance bond at 20% of
the accepted bid price (the bid bond paid at the time of registration shall be converted
automatically to the performance bond), namely, RMB two million two hundred and thirty-four
thousand only. Failure to make payment within the specified period shall constitute Party B’s
waiver.

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2) Party B must make payment ten (10) days in advance on a monthly basis, namely, adverting fee for
January, 2008 shall be paid prior to December 21, 2007, advertising fee for February, 2008 prior to
January 21, 2008 and so on. Failure to pay in full amount the advertising fee on schedule and
unauthorized transfer of the bid (subcontract) shall constitute Party B’s breach of contract. In
case Party B breaches the Contract during the performance of the Contract, the performance bond
shall not be refunded and the advertising slots concerned shall be withdrawn by Wuhan Broadcasting
& TV Station Advertising Department, without any further notice.

8. In case of errors or omissions due to any reason attributable to Party A, remedies shall be
taken on the principle of “once for each error” and “twice for each omission”.

9. Party A may not insert any content (whether advertisements or not) in any way during the slots
to which Party B has the exclusive right unless Party B’s consent is obtained and Party A makes
compensations to Party B by means of another slot with equivalent value. Where Party A inserts any
content without Party B’s consent, Party A shall pay the advertising fee to Party B on the basis of
the executive price.

10. Where Party A intends to insert public service advertisements and political advertisements
during the slots to which Party B has the exclusive right, Party B’s prior consent shall be
obtained. Any matter uncovered herein may be specified in writing through negotiation between the
Parties as the supplementation to the Contract. Such supplementations shall have the same legal
force with the Contract.

11. Any and all disputes arising from the performance of the Contract shall be settled through
amiable negotiation; where negotiation fails, the dispute concerned shall be submitted to Wuhan
Arbitration Committee for arbitration.

12. The Contract shall be binding upon the Parties once signed. Each party shall perform the terms
of the Contract strictly and may not terminate the Contract at will. The first breaching party
shall assume all liabilities for breach of contract other than attributable to force majeure
(including national and government policies).

13. Wuhan Broadcasting & TV Station Advertising Department reserves the right to interpret the
Contract.

14. The Contract shall be made in four copies, two for each party. The Contract shall take effect
with signatures and seals and remains effective for two years.

15. Appendices to the Contract: relevant valid certificates

	 	 	 
	Party A: Wuhan Broadcasting & TV 

Station Advertising Department

	 	Party B: Shanghai Yarun Media
Culture Co., Ltd.
	(seal)

	 	(seal)
	Representative (signature):

	 	Representative (signature):
	Date: December 24, 2007

	 	Date:
	Add.: No.620 Jianshe Avenue, Hankou,
430015

	 	Add.: Room 403, Sheng’ai Plaza, No.
88 Caoxi N. Road, Shanghai, 200030
	Tel: 027-85722373

	 	Tel: 027 64381260
	Fax: 027-85766597

	 	Fax:027-64383327
	Post code: 430015

	 	Post code: 200030

43exv10w2w6

Exhibit 10.2.6

[Translation of Chinese original]

EQUITY TRANSFER AGREEMENT

This Agreement is entered into on this 12th day of June, 2009 by and among:

	(1)	 	REDGATE INTERACTIVE ADVERTISING (BEIJING) CO., LTD., a limited liability company duly
established and validly existing under the laws of the People’s Republic of China, with its
domicile at Suite 804, Building 2, 19 Jianguomenwai Avenue, Chaoyang District, Beijing
(hereinafter referred to as the “Transferor”);
	 
	(2)	 	WEIDONG ZHU, a natural person and citizen of the People’s Republic of China whose ID card
number is 310110197006105018 and whose residential address is Flats 801 and 802, Building 3,
163 Puhuitang Road, Shanghai;
	 
	 	 	ZHENHUI WANG, a natural person and citizen of the People’s Republic of China whose ID card
number is 31010219690611525X and whose residential address is Flat 202, 62 Zinan Huayuan
Ercun, Zizhu Road, Minhang District, Shanghai;
	 
	 	 	WENHUA CAO, a natural person and citizen of the People’s Republic of China whose ID card
number is 330102195906230636 and whose residential address is 25-1, Phase 1, Dahua
Xiqifengqing, Wenyi West Road, Hangzhou, Zhejiang; (Weidong Zhu, Zhenhui Wang and Wenhua Cao
are hereinafter collectively referred to as “Transferee”); and
	 
	(3)	 	SHANGHAI YARUN CULTURE COMMUNICATIONS CO., LTD., a limited liability company duly established
and validly existing under the laws of the People’s Republic of China, with its domicile at
D-541, 1 Huyi Road, Shanghai (the “Company”).

(The Transferee, the Transferor and the Company shall hereinafter be referred to, jointly, as the
“Parties” and, individually, as a “Party”).

The current registered capital of the Company is Renminbi Three Million (RMB3,000,000). The
Transferor holds 100 percent of the equity interest of the Company. Pursuant to the relevant laws
and regulations, and following the negotiations between the Parties hereto, it is agreed as
follows:

ARTICLE 1. EQUITY TRANSFER

	 	1.	 	The Transferor shall transfer 40 percent of the total equity interest in the Company to
Weidong Zhu for a consideration of Renminbi One Million and Two Hundred Thousand
(RMB2,200,000), 40 percent of the total equity interest in the Company to Zhenhui Wang for
a consideration of Renminbi One Million and Two Hundred Thousand (RMB1,200,000), and 20
percent of the total equity interest in the Company to Wenhua Cao for a consideration of
Renminbi Six Hundred Thousand (RMB600,000).
	 
	 	2.	 	The Transferor warrants that the equity interest to be transferred has not been
pledged. With the exception of the foregoing, the Transferor shall not make any
representations, 

 

 

	 	 	 	warranties nor bear any liabilities with respect to the equity interest to
be transferred or the status of the Company.

	 	3.	 	The Parties confirm that the consideration for the equity transfer has been paid in
full by the Transferee on the execution date hereof in accordance with the manner as
agreed, with each party comprising the Transferee hereto paying its respective share of the
consideration.

ARTICLE 2. LIABILITY FOR BREACH OF CONTRACT

If any Party is in breach of the provisions hereof, it shall bear the corresponding liabilities in
respect of the breach.

ARTICLE 3. DISPUTE RESOLUTION

In the event of a dispute in the performance of this agreement, the Parties shall resolve the
dispute through negotiations. If the dispute is not resolved by negotiations, any Party may submit
the dispute for arbitration to the Shanghai Arbitration Commission.

ARTICLE 4. OTHERS

	 	1.	 	This Agreement is made in six (6) counterparts, the Parties hereto shall each hold one
original and the remaining originals shall be used to carry out the relevant registration
procedures.
	 
	 	2.	 	This Agreement shall enter into effect after it is signed by the Parties.

[Remainder of page is intentionally left blank.]

2

 

[Execution Page, no other contents on this page.]

Transferor:

REDGATE INTERACTIVE ADVERTISING
 (BEIJING) CO., LTD. [company seal]

	 	 	 	 	 
	 	 	 
	By:  	/s/ Ying Zhu
 	 	 
	  	Name of Legal Representative:  	 Ying Zhu	 	 

Transferee:

WEIDONG ZHU

	 	 	 	 	 
	Signature:  	/s/ Weidong Zhu
 	 	 
	 	 	 

ZHENHUI WANG

	 	 	 	 	 
	Signature:  	/s/ Zhenhui Wang
 	 	 
	 	 	 
	WENHUA CAO
 	 	 
	Signature:  	/s/ Wenhua Cao
 	 	 

SHANGHAI YARUN CULTURE 
COMMUNICATIONS CO., LTD. [company seal]

	 	 	 	 	 
	By:  	/s/ Weidong Zhu
 	 	 
	  	Name of Legal Representative:  	Weidong Zhu

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00168-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00168-of-00352.parquet"}]]