Document:

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                                                                     Exhibit 4.8

                                                                 [LINKTONE LOGO]

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

                              EMPLOYMENT AGREEMENT

                                 By and Between

                               MICHAEL GUANGXIN LI

                                       And

                                  LINKTONE LTD.

                            Dated as of April 3, 2006

================================================================================
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                     THIS EMPLOYMENT AGREEMENT ("Agreement")
                          is made and entered into this

                              3rd day of April 2006

                                 by and between

                               Michael Guangxin Li
                                (the "Employee")

                                       and

                          LINKTONE LTD. (THE "COMPANY")

BACKGROUND

WHEREAS the Company (a Cayman Islands company) desires to employ Employee in the
capacity of Chief Executive Officer ("CEO") and Employee desires to be so
employed, subject to the terms and conditions of this Agreement.

NOW, THEREFORE, intending to be legally bound, and in consideration of the
premises and the mutual promises set forth in this Agreement and for other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Company and Employee agree as follows:

DEFINITIONS

"Administrator" means the Compensation Committee (as defined below) or the Board
(as defined below) who administer the Employee Stock Options (as defined below)
under applicable stock option agreements or stock incentive plans or schemes.

"Affiliate" means with respect to any Person directly or indirectly Controlling,
Controlled by, or under common Control with such Person.

"Ancillary Agreements" is as defined in Article 5.

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

"Cash Compensation" is as defined in Section 2.1.

"Cause" means (i) the Employee commits a crime involving dishonesty, breach of
trust, or physical harm to any person; (ii) the Employee willfully engages in
conduct that is in bad faith and materially injurious to the Company, including
but not limited to, misappropriation of trade secrets, fraud or embezzlement;
(iii) the Employee commits a material breach of this Agreement or the Ancillary
Agreements; (iv) the Employee willfully refuses to implement or follow a
reasonable and lawful policy or directive of the Company, which refusal or
failure is not cured within twenty (20) days after written notice to the
Employee from the Company; (v) Employee demonstrates unfitness or unavailability
for service or unsatisfactory performance, and fails to cure such unfitness,
unavailability or unsatisfactory performance to Company's satisfaction within
twenty (20) days

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after written notice from the Company; or (vi) Employee dies or becomes
permanently disabled (which shall mean Employee is unable to carry out the
responsibilities and functions of his position by reason of any physical or
mental impairment for more than 90 consecutive days, or for more than a total of
120 days in any twelve-month period).

"Change in Control" means a change in ownership or control of the Company
effected through either of the following transactions: (i) the direct or
indirect acquisition by any person or related group of persons (other than an
acquisition from or by the Company or by a Company-sponsored employee benefit
plan or by a person that directly or indirectly controls, is controlled by, or
is under common control with, the Company) of beneficial ownership (within the
meaning of Rule 13d-3 of the Exchange Act) of securities possessing more than
fifty percent (50%) of the total combined voting power of the Company's
outstanding securities pursuant to a tender or exchange offer made directly to
the Company's shareholders which a majority of the Continuing Directors who are
not Affiliates or Associates of the offeror do not recommend such shareholders
accept, or (ii) a change in the composition of the Board over a period of
thirty-six (36) months or less such that a majority of the Board members
(rounded up to the next whole number) ceases, by reason of one or more contested
elections for Board membership, to be comprised of individuals who are
Continuing Directors. The "Continuing Directors" means members of the Board who
either (i) have been Board members continuously for a period of at least
thirty-six (36) months or (ii) have been Board members for less than thirty-six
(36) months and were elected or nominated for election as Board members by at
least a majority of the Board members described in clause (i) who were still in
office at the time such election or nomination was approved by the Board.
"Associate" has the meaning ascribed to such term in Rule 12b-2 promulgated
under the Exchange Act.

"Company" is as defined in the Preamble.

"Compensation Committee" means the compensation committee of the Board of the
Company or such other group of directors performing similar functions.

"Control" (including the terms "Controlled by" and "under common Control with")
means the possession, directly or indirectly or as a trustee or executor, of the
power to direct or cause the direction of the management of a Person, whether
through the ownership of stock, as a trustee or executor, by contract or credit
agreement or otherwise.

"Corporate Transaction" means any of the following transactions: (i) a merger or
consolidation in which the Company is not the surviving entity, except for a
transaction the principal purpose of which is to change the state in which the
Company is incorporated; (ii) the sale, transfer or other disposition of all or
substantially all of the assets of the Company; (iii) the complete liquidation
or dissolution of the Company; (iv) any reverse merger or series of related
transactions culminating in a reverse merger (including, but not limited to, a
tender offer followed by a reverse merger) in which the Company is the surviving
entity but (A) the Ordinary Shares outstanding immediately prior to such merger
are converted or exchanged by virtue of the merger into other property, whether
in the form of securities, cash or otherwise, or (B) in which securities
possessing more than fifty percent (50%) of the total combined voting power of
the Company's outstanding securities are transferred to a person or persons
different from those who held such securities immediately prior to such merger
or the initial transaction culminating in such merger, but excluding any such
transaction or series of related transactions that the Administrator determines
shall not be a Corporate Transaction; or (v) acquisition in a single or series
of related transactions by any person or related group of persons (other than
the Company or by a Company-sponsored employee benefit plan) of beneficial
ownership (within the meaning of Rule 13d-3 of the Exchange Act) of securities
possessing more than fifty percent (50%) of the total combined voting power of

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the Company's outstanding securities but excluding any such transaction or
series of related transactions that the Administrator determines shall not be a
Corporate Transaction.

"Effective Date" is April 3, 2006.

"Employee" is as defined in the Preamble.

"Employee Resignation" and "Employee Resignation Date" are defined in Section
3.1.2.

"Employee Stock Options" shall be the right given by the Company to the Employee
on specific vesting dates during the Employment Term to purchase a specific
number of Ordinary Shares or other securities of the Company at a specific
exercise price, as set forth in Section 2.6, with more detailed terms and
conditions provided in the relevant employee stock option plan or scheme or
stock option award agreements thereunder.

"Employment Capacity" shall be Chief Executive Officer reporting to the Board of
the Company.

"Employment Contract Termination Date" means the later of December 31, 2007 or
the date on which either the Company or the Employee elects not to extend this
Agreement further by giving written notice to the other party.

"Employment Final Termination Date" means the date upon which the Employee's
employment with the Company ceases for any reason.

"Employment Term" is as defined in Section 1.1.

"Exchange Act" means the U.S. Securities Exchange Act of 1934, as amended.

"Good Reason" in the context of the Employee's resignation is defined as a
resignation by Employee after 60 days following one or more of the following
events, provided, in each case, that such event is effected by the Company
without Employee's consent, and provided further that Employee gives the Company
at least 30 days' notice of such resignation and the Company fails to cure the
event triggering Employee's resignation within that 30 day notice period: (a) a
material reduction in the Employee's Monthly Base Salary (other than a reduction
similar in percentage to a reduction generally applicable to all other senior
executives of the Company); or (b) a relocation of the Employee's principal
place of employment by more than 50 miles.

"Monthly Base Salary" is as defined in Section 2.1(i).

"Ordinary Shares" means the ordinary shares of the Company.

"Performance Targets" shall be as defined in Section 2.1(ii).

"Person" means an individual, corporation, partnership, limited liability
company, limited partnership, association, trust, unincorporated organization or
other entity or group (as defined in Section 13(d)(3) and Section 14(d)(2) of
the Exchange Act).

"RMB" or Renminbi means the legal currency of the People's Republic of China.

"Severance Multiplier" means the number equal to (i) six (6) plus (ii) the total
number of years between the Effective Date and the Employment Final

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Termination Date; if the Employment Final Termination Date occurs six months or
more after an anniversary of the Effective Date, such half-year period after the
anniversary shall be included in the number of years referenced above (e.g., if
the Employment Final Termination Date is two years and ten months after April 3,
2006, then the Severance Multiplier would be 8.5).

"Subsidiary" means, with respect to any Person, any entity which securities or
other ownership interests having ordinary voting power to elect a majority of
the Board or other persons performing similar functions are at the time directly
or indirectly owned by such Person and, with respect to the Company, shall also
include any affiliated entities which are deemed "variable interest entities" of
the Company under applicable accounting standards.

"U.S. dollars" or "US$" means the legal currency of the United States.

ARTICLE 1. EMPLOYMENT AND TERM

      The Company hereby employs the Employee and the Employee hereby agrees to
such employment by the Company during the Employment Term to serve as the Chief
Executive Officer and member of the Board of the Company, with the customary
duties, authorities and responsibilities of such position and such other duties,
authorities and responsibilities relative to the Company that may from time to
time be delegated to the Employee by the Board. Notwithstanding the foregoing,
Employee understands and agrees that he shall not have any authority to engage
in the following acts without first obtaining written approval from the
Compensation Committee of the Board: (a) offer employment to any individual
being considered for a position with the Company that is at or above the
director level (as such term is commonly used in the Company's organizational
chart), or (b) offer, award, or grant any Person any stock option awards,
material cash bonuses (in excess of US$25,000), or material salary increases (in
excess of 10%). The Employee shall perform such duties and responsibilities as
are normally related to such position in accordance with the standards of the
industry and any additional duties now or hereafter assigned to the Employee by
the Board. The Employee shall abide by the Company's rules, regulations and
practices as they may from time-to-time be adopted or modified.

1.1   EMPLOYMENT TERM. The Employment Term of this Agreement shall commence on
      the Effective Date and shall continue until the earlier of the Employment
      Contract Termination Date or the Employment Final Termination Date.

1.2   FULL WORKING TIME. During the Employment Term, the Employee shall devote
      all of his attention, experience and efforts during normal business hours
      to the proper performance of his duties hereunder and to the business and
      affairs of the Company.

1.3   CHANGE IN CONTROL/CORPORATE TRANSACTION. Notwithstanding the foregoing, if
      a Change in Control or Corporate Transaction occurs prior to the
      Employment Contract Termination Date, then the terms outlined in Article 4
      shall apply.

ARTICLE 2. COMPENSATION PACKAGE AMOUNT

2.1   CASH COMPENSATION. During the Employment Term, as compensation for
      services hereunder and subject to the performance of his obligations
      hereunder, the Employee shall be paid the cash compensation (the "Cash
      Compensation"), which consists of the following:

        i.    Base Salary:

            a)    For calendar year 2006 (from Employee's first day of
                  employment through

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                  December 31, 2006), Employee shall receive a monthly base
                  salary ("Monthly Base Salary") equal to the quotient obtained
                  by dividing X by Y, where:

                  X =   [Number of Months Employee will be employed in
                        calendar year 2006 (including the actual month of
                        employment commencement) X US$15,833.33] - US$47,500

                  Y =   Number of Months Employee will be employed in calendar
                        year 2006 (including the actual month of employment
                        commencement)

            The Monthly Base Salary shall be payable in RMB (which as of the
            date hereof is equivalent to RMB 84,711), pro rated for the number
            of days actually worked by Employee in any month in which the
            Effective Date and the Employment Contract Termination Date or the
            Employment Final Termination Date occurs;

            b)    For calendar year 2007 (from January 1, 2007 to December 31,
                  2007), Employee's Monthly Base Salary shall be RMB 127,067
                  (which is equivalent as of the date hereof to Fifteen Thousand
                  Eight Hundred Thirty-Three Dollars and Thirty-Three Cents
                  (US$15,833.33)), pro rated for the number of days actually
                  worked by Employee in any month in which the Employment
                  Contract Termination Date or the Employment Final Termination
                  Date occurs.

         ii.   Annual Performance Incentive Cash Bonus: an annual performance
               incentive cash bonus, payable on or before March 31 of the
               following calendar year, subject to the Company's and/or
               Employee's achievement of the annual performance targets set
               forth in Exhibit A hereto ("Performance Targets"), such
               performance as verified and approved by the Compensation
               Committee. The Employee is not entitled to any annual incentive
               cash bonus mentioned above unless he has been employed by the
               Company for the full calendar year (or, in the case of 2006, from
               the Effective Date until December 31, 2006), and such bonus shall
               not be deemed earned until the Compensation Committee verifies
               the Company's achievement of the Performance Targets and approves
               payment of such bonus to Employee.

         iii.  One-Time Signing Bonus: a one-time signing bonus in the amount of
               RMB 381,202 (which is equivalent as of the date hereof to Forty
               Seven Thousand Five Hundred US Dollars (US$47,500) payable by the
               Company in lump sum to Employee on the first payroll date after
               Employee has completed 30 days of employment with the Company,
               provided Employee is still employed with the Company on that
               date.

            The Cash Compensation shall be payable in RMB. The Employee may
      elect, at his own foreign exchange risk and expense, to receive a
      percentage of such Cash Compensation in foreign currencies, under which
      circumstances the Company will pay such amount in the foreign currencies
      as designated by the Employee at the exchange rate made available to the
      Company by any financial institution selected by the Company which
      provides foreign currency exchange services for the Company.

2.2   BENEFITS. During the Employment Term, as compensation for services
      hereunder, the Employee shall be entitled to the benefits as follows:

         i.    Housing Allowance: housing allowance in the aggregate amount of
               up to RMB 24,076 (which is equivalent as of the date hereof to
               Three Thousand US Dollars

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               (US$3,000)) per month.

         ii.   Insurance: health and life insurance providing international
               standard coverage as determined by the Compensation Committee
               after consultation with the Employee, with insurance premiums per
               individual family member in the amount of up to RMB 40,127 (which
               is equivalent as of the date hereof to Five Thousand US Dollars
               (US$5,000)) per year.

         iii.  Education Reimbursement: reimbursement of education cost incurred
               for children living in China, up to RMB 200,633 (which is
               equivalent as of the date hereof to Twenty Five Thousand US
               Dollars (US$25,000)) per child per year through secondary school.

         iv.   Company Car: use of car (Buick sedan class) and driver as
               provided by the Company.

         v.    Travel Allowance: business class air fare for spouse accompanying
               Employee on one overseas business trip per year.

         vi.   Tax Advisory Services: reimbursement for actual tax advisory
               service fees incurred, up to RMB 12,038 (which is equivalent as
               of the date hereof to One Thousand Five Hundred US Dollars
               (US$1,500)) per year.

             All reimbursements will be paid subject to Employee's delivery of
             actual expense receipts/invoices documenting the relevant
             reimbursement requested.

2.3   INDIVIDUAL INCOME TAX. The Employee shall be responsible for paying his
      own individual income tax in respect of the compensation received
      hereunder, and Employee will certify in writing annually to the Board that
      he has accurately reported and timely paid all income tax due in
      connection with such compensation. The Company will make all required tax
      and statutory withholdings according to the PRC taxation laws and the tax
      amount will be deducted from the Employee's Monthly Base Salary, which
      deduction Employee hereby consents to.

2.4   ANNUAL LEAVE. The Employee shall be entitled to four weeks of annual leave
      with pay during each calendar year of the Employment Term, which must be
      taken in accordance with the Company's vacation policy then in effect.

2.5   TRAVEL EXPENSES REIMBURSEMENT. The Company shall pay or reimburse the
      Employee for reasonable business expenses actually incurred or paid by the
      Employee during the Employment Term, in the performance of his services
      hereunder.

2.6   EMPLOYEE STOCK OPTION AWARDS. Employee has been granted options to
      purchase 3,500,000 ordinary shares of the Company (which is equivalent to
      350,000 American Depositary Shares) (the "Stock Options"), the general
      terms of which are set forth in Exhibit B which is attached hereto.
      Employee's receipt of the Stock Options is conditioned upon Employee's
      execution of the Company's Notice of Stock Option Award and Stock Option
      Award Agreement for each option, and such options will be subject to the
      terms of those agreements and the terms of the Company's 2003 Stock
      Incentive Plan.

2.7   NO ADJUSTMENTS OF COMPENSATION TERMS PRIOR TO JANUARY 2008. The terms of
      the compensation package provided under this Agreement (including
      Employee's Monthly Base

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      Salary (as described in Section 2.1(i) above), Annual Incentive Cash Bonus
      (as described in Section 2.1(ii) above), Benefits (as described in Section
      2.2 above) and Employee Stock Option Awards (as described in Section 2.6
      above) shall not be increased or reviewed for a possible increase prior to
      January 1, 2008. Employee understands and agrees that he shall not attempt
      to renegotiate or increase his compensation package prior to January 1,
      2008, and that any attempt to do so shall constitute a material breach of
      this Agreement. At any time, the Compensation Committee and/or the Board
      may, in its sole discretion, review Employee's compensation package in
      consultation with Employee and make any amendments or adjustments that are
      approved by the Compensation Committee and/or Board. The terms of any
      amendments or adjustments the Employee's compensation package will not be
      retroactive and shall take effect from the time such amendment is made.

ARTICLE 3. TERMINATION

3.1   GENERAL.

      3.1.1 COMPANY'S RIGHT TO TERMINATE. The Company shall have the right to
            terminate the employment of the Employee at any time with or without
            Cause, but the relative rights and obligations of the parties in the
            event of any such termination or resignation shall be determined
            under this Agreement.

      3.1.2 EMPLOYEE'S RESIGNATION RIGHT. The Employee shall have the right to
            resign for any reason with six (6) months' prior notice to the
            Company unless such resignation is for "Good Reason" (in which case,
            Employee may resign by providing the Company with 30 days' notice),
            but the relative rights and obligations of the parties in the event
            of any such resignation shall be determined under this Agreement
            (such event, an "Employee Resignation", and the date of notice by
            the Employee to the Company, the "Employee Resignation Date").

3.2   TERMINATION UNDER CERTAIN CIRCUMSTANCES.

      3.2.1 TERMINATION FOR CAUSE. In the event the Company terminates the
            Employee's employment for Cause prior to the expiration of the
            Employment Term, subject to the Employee's compliance with Articles
            5, 6 and 7, the Company will be obliged to pay only the Standard
            Termination Entitlements as defined in Section 3.4.1, and the
            Employee's right to exercise the Employee Stock Options described
            under Section 2.6 shall be determined pursuant to the applicable
            stock option agreements and stock incentive plan governing such
            options.

      3.2.2 RESIGNATION FOR ANY REASON OTHER THAN GOOD REASON. In the event the
            Employee resigns for any reason other than Good Reason prior to the
            expiration of the Employment Term, the Company will be obliged to
            pay the Standard Termination Entitlements as defined in Section
            3.4.1, subject to the Employee's compliance with Articles 5, 6 and 7
            hereof and the Exhibits referenced in Article 5 hereof.

      3.2.3 TERMINATION WITHOUT CAUSE OR RESIGNATION FOR GOOD REASON. Except in
            the event of a Change in Control or a Corporate Transaction, in the
            event that the Company terminates the Employee's employment without
            Cause or the Employee resigns for Good Reason, subject to the
            Employee's compliance with Articles 5, 6 and 7 hereof and the
            Exhibits referenced in Article 5 hereof:

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         i.    the Company will be obligated to pay the Standard Termination
               Entitlements as defined in Section 3.4.1 and the Severance
               Benefits as described in Section 3.4.2; provided that, in each
               case, Employee's eligibility for the Standard Termination
               Entitlements and the Severance Benefits is conditioned upon the
               following:

            (a)   Employee's compliance with his post-employment obligations,
                  including without limitation the proprietary information,
                  confidentiality, non-competition, non-solicitation and
                  non-disparagement obligations set forth in Article 5 hereof
                  and the Exhibits referenced in Article 5 hereof; and

            (b)   Employee having first signed a release certificate in the form
                  attached as Exhibit E.

      3.2.4 TERMINATION UPON A CHANGE IN CONTROL. In the event of a Change in
            Control or Corporate Transaction, the terms outlined in Article 4
            shall apply.

3.3   LIQUIDATED DAMAGES. The Company and Employee hereby stipulate that the
      damages which may be incurred by the Employee as a consequence of any such
      termination of employment are not capable of accurate measurement as of
      the Effective Date and that the liquidated damages payments provided for
      in this Agreement constitute a reasonable estimate under the circumstances
      of, and are in full satisfaction of, all damages sustained as a
      consequence of any such termination of employment.

3.4   DEFINITIONS.

      3.4.1 STANDARD TERMINATION ENTITLEMENTS. For all purposes of this
            Agreement, the "Standard Termination Entitlements" shall mean and
            include:

         i.    the Employee's earned but unpaid compensation (including, without
               limitation, salary, bonus and all other items which constitute
               wages under applicable law) as of the date of his termination of
               employment. This payment shall be made at the time and in the
               manner prescribed by law applicable to the payment of
               compensation but in no event later than 30 days after the date of
               the Employee's termination of employment;

         ii.   the benefits, if any, due to the Employee (and the Employee's
               estate, surviving dependents or his designated beneficiaries)
               under the employee benefit plans and programs and compensation
               plans and programs (including stock option plans) maintained for
               the benefit of the employees of the Company; and

         iii.  all of the Employee's Employee Stock Options that have been
               deemed to have vested at or prior to the Employment Final
               Termination Date under the terms of applicable stock option
               agreements and stock incentive plans.

      3.4.2 SEVERANCE BENEFITS. For all purposes of this Agreement, the
            Employee's "Severance Benefits" shall mean: the payment of an amount
            equal to the Employee's Monthly Base Salary in effect immediately
            prior to his termination of employment multiplied by the Severance
            Multiplier. Fifty percent (50%) of the total amount of Severance
            Benefits shall be payable within ten (10) business days following
            the Employment Final Termination Date and the remaining fifty
            percent (50%) shall be payable on the one (1) year anniversary of
            the Employment Final Termination Date.

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3.5   DIRECTOR STATUS. Employee shall promptly resign from the Board and from
      any Board committees on which he serves if his employment with the Company
      terminates for any reason and if requested by a majority of the current
      directors of the Board following such termination.

ARTICLE 4. CHANGE IN CONTROL/CORPORATE TRANSACTION.

4.1   EMPLOYMENT TERM. If a Change in Control or Corporate Transaction occurs
      prior to the Employment Contract Termination Date, then the Employment
      Term shall remain unchanged.

4.2   SEVERANCE PAYMENT AMOUNT. If a Change in Control or Corporate Transaction
      occurs prior to the Employment Contract Termination Date and the Company
      terminates the Employee's employment without Cause or the Employee resigns
      for Good Reason, then the Employee will be entitled to (a) a payment equal
      to the greater of (x) 6 times the Employee's Monthly Base Salary in effect
      immediately prior to his termination or resignation of employment or (y)
      12 months' Employee's Monthly Base Salary in effect immediately prior to
      his termination or resignation of employment less any compensation paid to
      the Employee during the period between the Change in Control or Corporate
      Transaction and Employment Final Termination Date, and (b) subject to the
      Employee's compliance with Articles 5, 6 and 7, the Standard Termination
      Entitlements as defined in Section 3.4.1.

4.3   HEALTH AND LIFE INSURANCE BENEFITS. If a Change in Control or Corporate
      Transaction occurs prior to the Employment Contract Termination Date, then
      the Employee will be entitled to Company-paid contributions for health and
      life insurance premiums for the greater of six months or the number of
      months between the Employment Final Termination Date and the first
      anniversary of the Change in Control or Corporate Transaction.

ARTICLE 5. PROPRIETARY INFORMATION AND NON-COMPETITION

      The Employee shall, on the Effective Date, enter into a Key Employee
Invention Assignment and Confidentiality Agreement in the form as Exhibit C
attached hereto and a Non-Compete Agreement (together with the Key Employee
Invention Assignment and Confidentiality Agreement, the "Ancillary Agreements")
in the form as Exhibit D attached hereto. The Employee agrees that the entering
into the Ancillary Agreements is necessary to protect the interests of the
Company, its Subsidiaries or Affiliates and is reasonable and valid in
geographical and temporal scope and in all other respects. If any court
determines that this Article 5 or any provision in the Ancillary Agreements is
unenforceable because of the duration or geographical scope of such provision,
such court will have the power to reduce the duration or scope of such
provision, as the case may be, and, in its reduced form, such provision will be
enforceable.

ARTICLE 6. REMEDIES

      If the Employee commits a breach, or threatens to commit a breach, of any
provisions of this Agreement or the Ancillary Agreements (the "Breach"), the
Company shall have the right (a) to terminate the employment under Section 3.2.1
and claim for damages associated with the Breach, each of which shall be
independent of the others and shall be severally enforceable, and all of which
shall be in addition to, and not in lieu of, any other rights and remedies
available under law or in equity to the Company; and (b) to have the provisions
hereof or of the Ancillary Agreements enforced by any court in the State of New
York, USA, it being acknowledged and agreed that any breach or threatened breach
of any of such provision by the Employee will cause irreparable injury to the
Company and that money damages will not provide an adequate remedy to the
Company.

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ARTICLE 7. DISPUTE RESOLUTION

      Any dispute, controversy or claim, at any time arising out of or relating
to this Agreement, or the breach, termination or invalidity thereof (other than
any dispute, controversy or claim pursuant to the Key Employee Invention
Assignment and Confidentiality Agreement or Non-Compete Agreement under the
Articles 5 hereof, which may, at the option of the Company, be submitted to any
court having jurisdiction), shall be settled by binding arbitration at the
request of either party. Each arbitration hereunder shall be conducted in Hong
Kong at the Hong Kong International Arbitration Centre ("HKIAC") in accordance
with the UNCITRAL Arbitration Rules then in effect. Any such arbitration shall
be administered by HKIAC in accordance with HKIAC Procedures for Arbitration in
force at the date of this Agreement including such additions to the UNCITRAL
Arbitration Rules as are therein contained. Judgment upon an award rendered in
an arbitration hereunder may be entered in any court having jurisdiction or
application may be made to such court for judicial acceptance of any award and
an order of enforcement, as the case may be. The arbitrators shall have the
authority to grant any equitable and legal remedies that would be available in
any judicial proceeding intended to resolve a dispute. The parties irrevocably
waive, to the fullest extent permitted by law, any objection the party may have
to the laying of venue for any such suit, action or proceeding brought before
HKIAC. THE PARTIES ALSO EXPRESSLY WAIVE ANY RIGHT THEY HAVE OR MAY HAVE TO A
JURY TRIAL OF ANY SUCH SUIT, ACTION OR PROCEEDING. If any one or more provisions
of this Article 7 shall for any reason be held invalid or unenforceable, it is
the specific intent of the parties that such provisions shall be modified to the
minimum extent necessary to make it or its application valid and enforceable.

ARTICLE 8. GENERAL PROVISIONS

8.1   NOTICES. All notices, requests, claims, demands and other communications
      hereunder shall be in writing and shall be given (and shall be deemed to
      have been duly received if so given) by hand delivery, telegram, telex, or
      telecopy, or facsimile transmission, or by mail (registered or certified
      mail, postage prepaid, return receipt requested) or by any courier
      service, providing proof of delivery. All communications hereunder shall
      be delivered to the respective parties at the following addresses or to
      such other address as the party to whom notice is given may have
      previously furnished to the other parties hereto in writing in the manner
      set forth above:

         If to the Employee:   Mr. Michael Guangxin Li
                               [C/O LINKTONE LTD.
                               5TH FLOOR, NO. 689 BEIJING DONG RD.
                               SHANGHAI 200001
                               PEOPLE'S REPUBLIC OF CHINA]

         If to the Company:    Linktone Ltd.
                               5th Floor, No. 689 Beijing Dong Rd.
                               Shanghai 200001
                               People's Republic of China

8.2   ENTIRE AGREEMENT. This Agreement, taken together with the Ancillary
      Agreements, shall constitute the entire agreement between the Employee and
      the Company with respect to the Employee's employment with the Company and
      supersedes any and all prior agreements and understandings.

Confidential             Copyright (c) 2004 Linktone Ltd.          Page 11 of 30

<PAGE>

8.3   AMENDMENTS AND WAIVERS. 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 by an instrument in writing and signed by the party against whom such
      amendment or waiver is sought to be enforced.

8.4   SUCCESSORS AND ASSIGNS. The personal services of the Employee are the
      subject of this Agreement and the Ancillary Agreements and no part of the
      Employee's or the Company's rights or obligations hereunder or thereunder
      may be assigned, transferred, pledged or encumbered by the Employee or the
      Company. This Agreement and the Ancillary Agreements shall inure to the
      benefit of, and be binding upon (a) the parties hereto, (b) the heirs,
      administrators, executors and personal representatives of the Employee and
      (c) the successors and assigns of the Company as provided herein.

8.5   GOVERNING LAW AND VENUE. This Agreement, including the validity hereof and
      the rights and obligations of the parties hereunder, and all amendments
      and supplements hereof and all waivers and consents hereunder, shall be
      construed in accordance with and governed by the laws of the State of New
      York, USA, without giving effect to any conflicts of law provisions or
      rule, that would cause the application of the laws of any other
      jurisdiction.

8.6   SEVERABILITY. If any provisions of this Agreement, as applied to any part
      or to any circumstance, shall be adjudged by a court to be invalid or
      unenforceable, the same shall in no way affect any other provision of this
      Agreement, the application of such provision in any other circumstances or
      the validity or enforceability of this Agreement.

8.7   SURVIVAL. The rights and obligations of the Company and Employee pursuant
      to Articles 3, 4, 5, 6 and 7 shall survive the termination of the
      Employee's employment with the Company and the expiration of the
      Employment Term.

8.8   CAPTIONS. The headings and captions used in this Agreement are used for
      convenience only and are not to be considered in construing or
      interpreting this Agreement.

8.9   COUNTERPARTS. This Agreement may be executed in two or more counterparts,
      each of which shall be deemed an original, but all of which together shall
      constitute one and the same instrument.

8.10  NO BREACH OF OTHER AGREEMENTS. Employee hereby represents and warrants
      that his execution, delivery and performance of this Agreement and the
      Ancillary Agreements shall not violate or constitute a breach of the terms
      of any other agreement to which Employee is a party, whether written or
      oral.

8.11  COUNTERPARTS. This Agreement may be executed in two or more counterparts,
      each of which shall be deemed an original, but all of which together shall
      constitute one and the same instrument.

Confidential             Copyright (c) 2004 Linktone Ltd.          Page 12 of 30

<PAGE>

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

EMPLOYEE

By:   /s/ Michael Guangxin Lin
   ----------------------------------------
   Michael Guangxin Li

COMPANY

By:   /s/ Elaine La Roche
   ----------------------------------------
   Name: Elaine La Roche
   Title: Chairperson of the Board of Directors

Confidential             Copyright (c) 2004 Linktone Ltd.          Page 13 of 30

<PAGE>

                                                                       Exhibit A

           Annual Performance Incentive Cash Bonus Amounts and Targets

Employee shall be eligible for an Annual Performance Incentive Cash Bonus for
2006, subject to the Company's achievement of certain earnings per share and
revenue milestones. The Annual Performance Incentive Cash Bonus for 2006 shall
be payable, if earned, on or prior to March 31, 2007, and cash performance
bonuses for each subsequent year shall be payable on or before March 31 of the
following calendar year. For 2006, the actual amount of Employee's bonus shall
be based on the following performance targets:

<TABLE>
<CAPTION>
 EPS AND REVENUE MILESTONE
  (BOTH MUST BE ACHIEVED)                BONUS AMOUNT
------------------------------          --------------
<S>                                     <C>
EPS $0.50 and REV $75 million             US$ 62,700
EPS $0.55 and REV $85 million             US$125,400
EPS $0.60 and REV $100 million            US$190,000
EPS $0.70 and REV $120 million            US$237,500

</TABLE>

Definitions:

1.    "EPS" means earnings determined in accordance with U.S. generally accepted
      accounting principles ("GAAP"), per Fully Diluted ADS, in USD cents,
      greater than or equal to the targets set forth above

2.    "REV" means U.S. GAAP gross revenue, in USD Millions, greater than or
      equal to the targets set forth above

Bonus amounts shall be based on the achievement of BOTH EPS AND REV milestones
at each threshold and shall be non-linear (for example, achievement of EPS$0.52
and REV $80 million will result in a bonus payment of no more than US$62,700).
For purposes of satisfying the EPS and REV Milestones, EPS and REV shall be
calculated based on the inclusion of EPS and REV generated only by the Company
and its controlled entities in existence as of the date hereof and shall not
include any entities acquired or consolidated with the Company by way of
additional merger or acquisition activity during fiscal 2006 or thereafter.

In all events, Employee must remain continuously employed through the end of the
calendar year to be eligible for the Annual Performance Incentive Cash Bonus for
such year. In addition, (1) Employee is not entitled to any portion of the
Annual Performance Incentive Cash Bonus if his employment is terminated for
Cause during the period after the end of a calendar year in which the
performance criteria have been satisfied but before the bonus for such year has
been paid; and (2) Employee is entitled to the Annual Performance Incentive Cash
Bonus if his employment is terminated without Cause or Employee resigns for Good
Reason during the period between the end of the calendar year and the date the
bonus is paid.

Future Annual Performance Incentive Cash Bonuses shall be based on the
achievement of similar milestones linked to earnings per share and revenue
targets, or other commensurate targets as determined, in each case, by the
Compensation Committee and the Board.

Confidential             Copyright (c) 2004 Linktone Ltd.          Page 14 of 30

<PAGE>

                                                                       Exhibit B

                         Key Terms of New Option Grants
<TABLE>
<S>                                  <C>
OPTION 1

Plan under Which Granted:            2003 Stock Incentive Plan

Grant Date:                          February 24, 2006

Vesting Commencement Date:           February 24, 2006

Exercise Price per Ordinary Share:   NASDAQ closing price on 2/23/06
                                     divided by ten (10), which is $0.701

Total number of Ordinary Shares
subject to the Option:               1,750,000

Total Exercise Price:                US$1,226,750

Expiration Date:                     February 23, 2016

Type of Option:                      Non-Qualified

Post-Termination Exercise Period:    Six months

Vesting Schedule:                    437,500 of the Shares subject to the
                                     Option shall vest twelve months after
                                     the Vesting Commencement Date, with an
                                     additional 1/48 of the total Shares
                                     subject to the Option vesting in equal
                                     installments on each monthly anniversary
                                     of the Vesting Commencement Date
                                     thereafter, subject to Employee's
                                     continuous service with the Company.

OPTION 2

Plan under Which Granted:            2003 Stock Incentive Plan

Grant Date:                          February 24, 2006

Vesting Commencement Date:           February 24, 2006

Exercise Price per Ordinary Share:   NASDAQ closing price on 2/23/06 divided by
                                     ten (10), which is $0.701

Total number of Ordinary Shares
subject to the Option:               1,750,000

Total Exercise Price:                US$1,226,750

Expiration Date:                     February 23, 2016
</TABLE>

Confidential             Copyright (c) 2004 Linktone Ltd.          Page 15 of 30

<PAGE>

<TABLE>
<S>                                  <C>
Type of Option:                      Non-Qualified

Post-Termination Exercise Period:    Six months

Vesting Schedule:                    656,250 of the Shares subject to the Option
                                     shall vest eighteen months after the
                                     Vesting Commencement Date, with an
                                     additional 1/48 of the total Shares subject
                                     to the Option vesting in equal installments
                                     on each monthly anniversary of the Vesting
                                     Commencement Date thereafter, subject to
                                     Employee's continuous service with the
                                     Company.
</TABLE>

Confidential             Copyright (c) 2004 Linktone Ltd.          Page 16 of 30
<PAGE>

                                                                       Exhibit C

         Key Employee Invention Assignment and Confidentiality Agreement

      In consideration of, and as a condition of my continued employment with
Linktone Ltd., a Cayman Islands company (as contemplated in the employment
agreement between Linktone Ltd. and me (the "Agreement")), or with any of its
subsidiaries, including, without limitation, Shanghai Linktone Consulting Co.,
Ltd., Shanghai Huitong Information Co Ltd., Shanghai Weilan Computer Co. Ltd.,
Shanghai Unilink Computer Co. Ltd., Shanghai Linktone Internet Technology
Limited and Shanghai Linktone Software Co., Ltd. (collectively, the "Company"),
I hereby represent to, and agree with, the Company as follows:

1.    Purpose of Agreement. I understand that the Company is engaged in a
      continuous program of research, development, production and marketing in
      connection with its business and that it is critical for the Company to
      preserve and protect its Proprietary Information (as defined in Section 3
      below), its rights in Inventions (as defined in Section 2 below) and in
      any other intellectual property rights. Accordingly, I am entering into
      this Key Employee Invention Assignment and Confidentiality Agreement (this
      "Agreement") as a condition of my continued employment with the Company,
      whether or not I am expected to create inventions of value for the
      Company.

2.    Disclosure of Inventions. I will promptly disclose in confidence to the
      Company all inventions, improvements, designs, original works of
      authorship, derivative works, formulas, processes, compositions of matter,
      techniques, know-how, computer software programs, databases, mask works
      and trade secrets (the "Inventions") that I make or conceive or first
      reduce to practice or create, either alone or jointly with others, during
      the period of my employment, whether or not in the course of my
      employment, and whether or not such Inventions are patentable,
      copyrightable or protectible as trade secrets or mask works.

3.    Proprietary Information. I understand that my employment by the Company
      creates a relationship of confidence and trust with respect to any
      information of a confidential or secret nature that may be disclosed to me
      by the Company that relates to the business of the Company or to the
      business of any parent, subsidiary, affiliate, customer or supplier of the
      Company or any other party with whom the Company agrees to hold
      information of such party in confidence (the "Proprietary Information").
      Such Proprietary Information includes but is not limited to any
      confidential and/or proprietary knowledge, data or information, any past,
      present or future Inventions, marketing plans, product plans, business
      strategies, financial information (including budgets and unpublished
      financial statements), licenses, prices and costs, forecasts, personal
      information, suppliers, customers and lists of either, information, trade
      secrets, patents, mask works, ideas, confidential knowledge, data or other
      proprietary information relating to new and existing products, processes,
      know-how, designs, formulas, developmental or experimental work,
      improvements, discoveries, designs and techniques, computer programs, data
      bases, other original works of authorship, employee information including
      the skills and compensation of other employees of Company, or other
      subject matter pertaining to any business of Company. I agree that Company
      may from time to time create a list of specific

Confidential             Copyright (c) 2004 Linktone Ltd.          Page 17 of 30

<PAGE>

      Proprietary Information and I will acknowledge any such lists in writing
      upon request.

4.    Confidentiality. At all times, both during my employment and after its
      termination, I will keep and hold all such Proprietary Information in
      strict confidence and trust. I will not use or disclose any Proprietary
      Information without the prior written consent of the Company, except as
      may be necessary to perform my duties as an employee of the Company for
      the benefit of the Company. Upon termination of my employment with the
      Company, I will promptly deliver to the Company all documents and
      materials of any nature pertaining to my work with the Company. I will not
      take with me any documents or materials or copies thereof containing any
      Proprietary Information.

5.    Work for Hire; Assignment of Inventions. I acknowledge and agree that any
      copyrightable works prepared by me either alone or jointly with others,
      within the scope of my employment are "works for hire" under the United
      States Copyright Act and that the Company will be considered the author
      and owner of such copyrightable works. In the event that any such
      copyrightable works are not deemed to be "works made for hire," I hereby
      irrevocably assign all of my right, title and interest in and to such
      copyrightable works to Company. I agree that all Inventions that (i) are
      developed using equipment, supplies, facilities or trade secrets of the
      Company, (ii) result from work performed by me for the Company, or (iii)
      relate to the Company's business or current or anticipated research and
      development (collectively, "Company Inventions"), will be the sole and
      exclusive property of the Company and are hereby
      irrevocably assigned by me to the Company.

6.    Assignment of Other Rights. In addition to the foregoing assignment of
      Company Inventions to the Company, I hereby irrevocably transfer and
      assign to the Company: (i) all worldwide patents, patent applications,
      copyrights, mask works, trade secrets and other intellectual property
      rights in any Company Invention; and (ii) any and all Moral Rights (as
      defined below) that I may have in or with respect to any Company
      Invention. I also hereby forever waive and agree never to assert any and
      all Moral Rights I may have in or with respect to any Company Invention,
      even after termination of my work on behalf of the Company. "Moral Rights"
      mean any rights to claim authorship of a Company Invention, to object to
      or prevent the modification of any Company Invention, or to withdraw from
      circulation or control the publication or distribution of any Company
      Invention, and any similar right, existing under judicial or statutory law
      of any country in the world, or under any treaty, regardless of whether or
      not such right is denominated or generally referred to as a "moral right".

7.    Assistance. For no consideration in addition to my salary or wages during
      my employment, I agree to assist the Company in every proper way to obtain
      for the Company and enforce patents, copyrights, mask work rights, trade
      secret rights and other legal protections for the Company's Inventions in
      any and all countries. I will execute any documents that the Company may
      reasonably request for use in obtaining or enforcing such patents,
      copyrights, mask work rights, trade secrets and other legal protections.
      My obligations under this paragraph will continue beyond the termination
      of my employment with the Company, provided that the Company will
      compensate me at a reasonable rate after such termination for time or
      expenses actually spent by me at the Company's request on such assistance.
      I appoint the Chief Financial Officer of the Company as my
      attorney-in-fact to execute documents on my behalf for this purpose. I
      hereby waive and quitclaim to Company any and all claims, of any nature
      whatsoever, which I now or may hereafter have for infringement of any
      proprietary rights assigned

Confidential             Copyright (c) 2004 Linktone Ltd.          Page 18 of 30

<PAGE>

      hereunder to Company.

8.    No Breach of Prior Agreement. I represent that my performance of all the
      terms of this Agreement and my duties as an employee of the Company will
      not breach any invention assignment, proprietary information,
      confidentiality or similar agreement with any former employer or other
      party. I represent that I did not bring with me to the Company or use in
      the performance of my duties for the Company any documents or materials or
      intangibles of a former employer or third party that are not generally
      available to the public or have not been legally transferred to the
      Company.

9.    Efforts; Duty Not to Compete. I understand that my employment with the
      Company requires my undivided attention and effort during normal business
      hours. While I am employed by the Company, I will not, without the
      Company's express prior written consent, provide services to, or assist in
      any manner, any business or third party which competes with the current or
      planned business of the Company.

10.   Notification. I hereby authorize the Company to notify my actual or future
      employers of the terms of this Agreement and my responsibilities
      hereunder.

11.   Non-Solicitation of Employees/Consultants. During my employment with the
      Company and for a period of two (2) years thereafter, I will not directly
      or indirectly solicit away employees or consultants of the Company for my
      own benefit or for the benefit of any other person or entity. "Solicit"
      shall not include the placement of an advertisement in a publication of
      general circulation.

12.   Non-Solicitation of Suppliers/Customers. During my employment with the
      Company and after termination of my employment, I will not directly or
      indirectly solicit or take away suppliers or customers of the Company if
      the identity of the supplier or customer or information about the supplier
      or customer relationship is a trade secret or is otherwise deemed
      confidential information within the meaning of Chinese law.

13.   Non-Disparagement. During my employment with the Company and after
      termination of my employment, I will not directly or indirectly disparage,
      defame, otherwise speak negatively about the Company or its predecessors,
      successors, or past or present subsidiaries or affiliated entities,
      officers, directors, agents, employees and assigns, in any manner, or take
      or cause to be taken any other action that is, likely to be harmful to
      them or their business, business reputation or personal reputation in any
      way, provided that I shall respond accurately and fully to any question,
      inquiry or request for information when instructed by the Company or
      otherwise required by legal process.

14.   Injunctive Relief. I understand that in the event of a breach or
      threatened breach of this Agreement by me the Company may suffer
      irreparable harm and will therefore be entitled to injunctive relief to
      enforce this Agreement, without prejudice to any other rights or remedies
      that Company may have for a breach of this Agreement.

15.   Governing Law; Severability. This Agreement will be governed by and
      construed in accordance with the laws of New York, without giving effect
      to that body of laws pertaining to conflict of laws. If any provision of
      this Agreement is determined by any court or arbitrator of competent
      jurisdiction to be invalid, illegal or unenforceable in any respect, such
      provision will be enforced to the maximum extent possible given the intent
      of the parties hereto. If such clause or provision cannot be so enforced,
      such provision shall be stricken from this Agreement and the remainder of
      this Agreement shall be

Confidential             Copyright (c) 2004 Linktone Ltd.          Page 19 of 30

<PAGE>

      enforced as if such invalid, illegal or unenforceable clause or provision
      had (to the extent not enforceable) never been contained in this
      Agreement. Notwithstanding the forgoing, if the value of this Agreement
      based upon the substantial benefit of the bargain for any party is
      materially impaired, which determination as made by the presiding court or
      arbitrator of competent jurisdiction shall be binding, then this Agreement
      will not be enforceable against such affected party and both parties agree
      to renegotiate such provision(s) in good faith.

16.   Counterparts. This Agreement may be executed in any number of
      counterparts, each of which when so executed and delivered will be deemed
      an original, and all of which together shall constitute one and the same
      agreement.

17.   Titles and Headings. The titles, captions and headings of this Agreement
      are included for ease of reference only and will be disregarded in
      interpreting or construing this Agreement. Unless otherwise specifically
      stated, all references herein to "sections" and "exhibits" will mean
      "sections" and "exhibits" to this Agreement.

18.   Entire Agreement. This Agreement and the documents referred to herein
      constitute the entire agreement and understanding of the parties with
      respect to the subject matter of this Agreement, and supersede all prior
      understandings and agreements, whether oral or written, between or among
      the parties hereto with respect to the specific subject matter hereof.

19.   Amendment and Waivers. This Agreement may be amended only by a written
      agreement executed by each of the parties hereto. No amendment of or
      waiver of, or modification of any obligation under this Agreement will be
      enforceable unless set forth in a writing signed by the party against
      which enforcement is sought. Any amendment effected in accordance with
      this section will be binding upon all parties hereto and each of their
      respective successors and assigns. No delay or failure to require
      performance of any provision of this Agreement shall constitute a waiver
      of that provision as to that or any other instance. No waiver granted
      under this Agreement as to any one provision herein shall constitute a
      subsequent waiver of such provision or of any other provision herein, nor
      shall it constitute the waiver of any performance other than the actual
      performance specifically waived.

20.   Successors and Assigns; Assignment. Except as otherwise provided in this
      Agreement, this Agreement, and the rights and obligations of the parties
      hereunder, will be binding upon and inure to the benefit of their
      respective successors, assigns, heirs, executors, administrators and legal
      representatives. The Company may assign any of its rights and obligations
      under this Agreement. No other party to this Agreement may assign, whether
      voluntarily or by operation of law, any of its rights and obligations
      under this Agreement, except with the prior written consent of the
      Company.

21.   Further Assurances. The parties agree to execute such further documents
      and instruments and to take such further actions as may be reasonably
      necessary to carry out the purposes and intent of this Agreement.

22.   Not Employment Contract. I understand that this Agreement does not
      constitute a contract of employment or obligate the Company to employ me
      for any stated period of time.

Confidential             Copyright (c) 2004 Linktone Ltd.          Page 20 of 30

<PAGE>

This Agreement shall be effective as of Effective Date.

EMPLOYEE

By:
   ____________________________
   Michael Guangxin Li

COMPANY

By:
   ____________________________
   Name: Elaine La Roche
   Title: Chairperson of the Board of Directors

Confidential             Copyright (c) 2004 Linktone Ltd.          Page 21 of 30

<PAGE>

                                                                       Exhibit D

                              Non-Compete Agreement

Dear Michael Guangxin Li,

      As an employee of Linktone Ltd., a Cayman Islands company (as contemplated
in the employment agreement between Linktone Ltd. and me (the "Agreement")), or
with any of its subsidiaries, including, without limitation, Shanghai Linktone
Consulting Co., Ltd., Shanghai Huitong Information Co Ltd., Shanghai Weilan
Computer Co. Ltd., Shanghai Unilink Computer Co. Ltd., Shanghai Linktone
Internet Technology Limited and Shanghai Linktone Software Co., Ltd.
(collectively, the "Company"), you must execute and deliver a covenant not to
compete with the Company during your employment and for 12 months thereafter.
The terms and conditions set forth below, as applicable, shall, upon your
acceptance thereof, become an agreement between you and the Company.

COVENANT NOT TO COMPETE

      It is hereby agreed that, from the date hereof and so long as you are an
employee, consultant or serve in a similar capacity with the Company or any of
its subsidiaries, you shall devote substantially all of your professional time
to the Company and its subsidiaries and shall not participate in any manner in
the management or operation of any business other than that of the Company and
its subsidiaries or serving on the board of directors of the Company or any of
its subsidiaries.

      If your are no longer employed by or acting as a consultant for the
Company or its subsidiaries, you shall not be employed by or participate in any
manner in the management or operation of any business or entity that is or may
be directly competitive with and offering similar products or services as the
Company or its subsidiaries until 12 months after the date of termination of
employment with the Company or any subsidiary.

COVENANT NOT TO SOLICIT EMPLOYEES

      While employed by Company and for a period of two (2) years after the
termination of your employment with Company, you shall not, directly or
indirectly, solicit for employment any person who was employed by Company during
your employment with Company. In the event that you hire or employ any such
person during such two (2) year period (without soliciting such person in
violation of this foregoing restriction), you shall reimburse the Company for
any and all costs and expenses incurred by the Company to replace such person
(including, without limitation, costs and expenses incurred for recruiting,
hiring and training).

COVENANT NOT TO DIVERT BUSINESS

      For a period of two (2) years after the termination of your employment
with Company, you shall not, directly or indirectly:

Confidential             Copyright (c) 2004 Linktone Ltd.          Page 22 of 30

<PAGE>

      (i) work as an employee, employer, consultant, agent, principal, partner,
manager, stockholder, officer, director, or in any other individual or
representative capacity for any person or entity who or which was a customer of
Company during your employment with Company, without the Company's written
consent; or

      (ii) call on, solicit, or take away for you or for any other person or
entity any person or entity who or which was a customer of Company, or with
which Company was in negotiations to become a customer of Company, during your
employment with Company.

COMPANY RIGHTS IF YOU VIOLATE THIS AGREEMENT

      In the event that you do not comply with the terms of this Agreement, any
profit sharing or stock options to which you would otherwise be entitled will be
forfeited.

      In the event you do not comply with the terms of this Agreement, the
Employment Agreement or the Key Employee Invention Assignment and
Confidentiality Agreement, we also reserve the right to discharge you as an
employee. Furthermore, we reserve the right to recover monetary damages from
you, and we may also recover punitive damages to the extent permitted by law. In
the event that monetary damages are an inadequate remedy for any harm suffered
by us as a result of a breach of this Agreement by you, we may also seek other
relief, including an order of specific performance or injunctive relief. You
will not seek, and you agree to waive any requirement for, the securing or
posting of a bond in connection with our seeking or obtaining such relief.

      You further agree to indemnify and hold us harmless from any damages,
losses, costs or liabilities (including legal fees and the costs of enforcing
this indemnity agreement) arising out of or resulting from your failure to abide
by the terms of this Agreement.

AT-WILL EMPLOYMENT

      You agree and understand that, except as may be provided in any employment
agreement between you and the Company, your employment with the Company is
"at-will," meaning that it is not for any specified period of time and can be
terminated by you or by the Company at any time, with or without advance notice,
and for any or no particular reason or cause. You agree and understand that it
also means that job duties, title and responsibility and reporting level,
compensation and benefits, as well as the Company's personnel policies and
procedures, may be changed at any time at-will by the Company. You understand
and agree that nothing about the fact or the content of this Agreement is
intended to, nor should be construed to, alter the at-will nature of your
employment with the Company. You also understand and agree that the at-will
nature of employment with the Company can only be changed by the Board of
Directors of the Company in an express writing signed and dated by an authorized
Board member and by you.

ACKNOWLEDGMENT

      You agree that, in light of the substantial benefits you will receive as
our employee, the terms contained in this Agreement are necessary and reasonable
in all respects and that the restrictions imposed on you are reasonable and
necessary to protect our legitimate business

Confidential             Copyright (c) 2004 Linktone Ltd.          Page 23 of 30

<PAGE>

interests. You acknowledge that a portion of the salary you receive during your
employment with the Company constitutes due consideration for your obligations
hereunder. Additionally, you hereby acknowledge and agree that the restrictions
imposed on you by this Agreement will not prevent you from obtaining employment
in your field of expertise or cause you undue hardship.

GOVERNING LAW

      This Agreement shall be governed by and construed in accordance with the
laws of the New York, without regard to any conflicts of laws provision thereof.

      By accepting this Agreement, you acknowledge that, given the nature of the
Company's business, the provisions contained in this Agreement contain
reasonable limitations as to time, geographical area and scope of activity to be
restrained, and do not impose a greater restraint than is necessary to protect
and preserve the Company and to protect the Company's legitimate interests. If,
however, the provisions of this Agreement are determined by any court of
competent jurisdiction or any arbitrator to be unenforceable by reason of its
extending for too long a period of time or over too large a geographic area or
by reason of its being too extensive in any other respect, or for any other
reason, it will be interpreted to extend only over the longest period of time
for which it may be enforceable and over the largest geographical area as to
which it may be enforceable and to the maximum extent in all other aspects as to
which it may be enforceable, all as determined by such court or arbitrator in
such action.

      Please confirm your agreement with the foregoing by signing and returning
directly to the undersigned the duplicate copy of this letter enclosed herewith.

                                  Very truly yours,

                                  Linktone Ltd.

                                  By:
                                     _____________________________________
                                  Name: Elaine La Roche
                                  Title: Chairperson of the Board of Directors

Accepted and Agreed to as
of the date first above written:

__________________________________
Michael Guangxin Li

Confidential             Copyright (c) 2004 Linktone Ltd.          Page 24 of 30

<PAGE>

                                    Exhibit E

                           Form of Release Certificate

______________ ("You") and Linktone Ltd. (the "Company") have agreed to enter
into this Release Certificate on the following terms:

      1. Within ten (10) business days after you sign this Release Certificate
(which you may sign no sooner than the last day of your employment with the
Company), you will become eligible to receive severance benefits in accordance
with the terms of your Employment Agreement dated [date] (the "Agreement").

      2. In return for the consideration described in the Agreement, you and
your representatives completely release Linktone Ltd., its affiliated, related,
parent or subsidiary corporations, and its and their present and former
directors, officers, and employees (the "Released Parties") from all claims of
any kind, known and unknown, which you may now have or have ever had against any
of them, or arising out of your relationship with any of them, including all
claims arising from your employment or the termination of your employment,
whether based on contract, tort, statute, local ordinance, regulation or any
comparable law in any jurisdiction ("Released Claims"). By way of example and
not in limitation, the Released Claims shall include any claims arising under
Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act,
the Worker Adjustment and Retraining Notification Act, the Age Discrimination in
Employment Act, and the New York Human Rights Law, or any comparable law of any
other jurisdiction or nation, as well as any claims asserting wrongful
termination, breach of contract, breach of the covenant of good faith and fair
dealing, negligent or intentional misrepresentation, and defamation and any
claims for attorneys' fees. You also agree not to initiate or cause to be
initiated against any of the Released Parties any lawsuit, compliance review,
administrative claim, investigation or proceedings of any kind which pertain in
any manner to the Released Claims.

      3. You acknowledge that the release of claims under the Age Discrimination
in Employment Act ("ADEA") is subject to special waiver protection. Therefore,
you acknowledge the following: (a) you have had 21 days to consider this Release
Certificate (but may sign it at any time beforehand if you so desire); (b) you
can consult an attorney in doing so; (c) you can revoke this Release Certificate
within seven (7) days of signing it by sending a certified letter to that effect
to [name and address]; and that (d) notwithstanding the foregoing, the portion
of this Release Certificate that pertains to the release of claims under the
ADEA shall not become effective or enforceable and no funds shall be exchanged
until the 7-day revocation period has expired, but that all other provisions of
this Release Certificate will become effective upon its execution by the
parties.

      4. You agree to immediately return to the Company all Company documents
(and all copies thereof) and other Company property which you have had in your
possession or control at any time, including, but not limited to, the items set
forth in Exhibit 1 to this Release Certificate, and all Company mobile phones in
your possession, your laptop computer and the Blackberry or similar personal
digital assistant provided by the Company, the Company's files, notes, drawings,
records, business plans and forecasts, financial information, specifications,
computer-recorded information, tangible property, credit cards, entry cards,
identification badges and keys, and any materials of any kind which contain or
embody any proprietary or confidential information of the Company (and all
reproductions thereof).

Confidential             Copyright (c) 2004 Linktone Ltd.          Page 25 of 30

<PAGE>

      5. You understand and agree that you shall remain bound by the terms of
that certain Key Employee Invention Assignment and Confidentiality Agreement
between you and Linktone dated _______________, attached as Exhibit 2 to this
Release Certificate (the "Confidentiality Agreement"), and the Non-Compete
Agreement between you and Linktone, attached hereto as Exhibit 3 to this Release
Certificate (the "Non-Compete Agreement"), both of which shall each be
considered a part of this Release Certificate.

      6. You further agree to be bound by a customary lock-up agreement in a
form and substance determined by the Company, in its sole discretion, whereby
you agree, for a period of 1 year following your last day of employment with the
Company (the "Lock-up Period"), not to sell or otherwise transfer or dispose of
any of the Company's (a) American Depositary Shares ("ADSs"), (b) ordinary
shares or securities convertible into or exercisable or exchangeable for
ordinary shares, (c) securities of the same class as the ADSs or ordinary shares
or (d) other instruments representing interests in securities of the same class
as ADSs or ordinary shares (collectively, the "Securities"); provided, however,
during any 30-day period during the Lock-up Period, you may sell up to
one-twelfth of the total number of Securities of the Company held by you as of
your last day of employment with the Company. All sales or other transactions
consummated pursuant to this paragraph shall be subject to Rule 144 of the
Securities Act of 1933, as amended (including without limitation the volume
restrictions thereunder). In furtherance of the foregoing, the Company, its
transfer agent and registrar and the depositary for the ADSs are hereby
authorized to decline to make any transfer of ADSs or ordinary shares or issue
any stop orders if such transfer would constitute a violation or breach of the
Agreement or any of the Exhibits referenced thereto.

      7. You acknowledge and agree that the Company shall have no obligation to
assist or facilitate in any way the deposit of any ordinary shares owned by you
(including shares received upon the exercise of stock options) into the
Company's American Depositary Receipt program unless and until you deliver a
certificate to the Company in a form satisfactory to the Company, to the effect
that you are not then in possession of any material nonpublic information
regarding the Company and the Company and its Board of Directors conclude it is
reasonable to rely on such certificate.

      8. You agree to hold in strictest confidence the circumstances of your
separation from the Company and the provisions of this Release Certificate, and
not to publicize or disclose such information in any manner whatsoever;
provided, however, that you may disclose this Agreement to your immediate
family, your attorney and tax advisors, or as otherwise required by law. You
also agree not to, either by yourself or indirectly through others, disparage,
defame, otherwise speak negatively about the Company or any of the Released
Parties in any manner, or take or cause to be taken any other action that is,
likely to be harmful to them or their business, business reputation or personal
reputation in any way, provided that you shall respond accurately and fully to
any question, inquiry or request for information when instructed by the Company
or otherwise required by legal process.

      9. The parties agree that this Release Certificate and the Agreement
contain all of our agreements and understandings with respect to their subject
matter, and may not be contradicted by evidence of any prior or contemporaneous
agreement, except to the extent that the provisions of any such agreement have
been expressly referred to in this Release Certificate or the Agreement as
having continued effect. It is agreed that this Release Certificate shall be
governed by the laws of the State of New York. If any provision of this Release
Certificate or its application to any person, place, or circumstance is held by
a court of competent jurisdiction to be invalid, unenforceable, or void, the
remainder of this Release Certificate and such provision as applied to other
person, places, and circumstances will remain in full force and effect.

Confidential             Copyright (c) 2004 Linktone Ltd.          Page 26 of 30

<PAGE>

      Please note that this Release Certificate may not be signed before the
last day of your employment with the Company, and that your eligibility for
severance benefits is conditioned upon meeting the terms set forth in the
Agreement. By you signature below, you acknowledge that (a) you have read this
Release Certificate or have been afforded every opportunity to do so; (b) you
are fully aware of this Release Certificate's contents and legal effect; (c) you
have had an opportunity to consult with an attorney of your choosing prior to
signing this Release Certificate; and (d) you have chosen to sign this Release
Certificate freely, without coercion, and based upon your own judgment and not
in reliance upon any promises made by the Company other than those contained in
this Release Certificate.

________________________________        Date: ____________________
         [Employee]

________________________________        Date: ____________________
         [Company Signatory]

Confidential             Copyright (c) 2004 Linktone Ltd.          Page 27 of 30

<PAGE>

                                    Exhibit 1

                            [Property to be returned]

Confidential             Copyright (c) 2004 Linktone Ltd.          Page 28 of 30

<PAGE>

                                    Exhibit 2

                           [Confidentiality Agreement]

Confidential             Copyright (c) 2004 Linktone Ltd.          Page 29 of 30

<PAGE>

                                    Exhibit 3

                             [Non-compete agreement]

Confidential             Copyright (c) 2004 Linktone Ltd.          Page 30 of 30<PAGE>
                                                                    Exhibit 4.10

                                 March 20, 2006

Mr. Xin Ye
Address:

Dear Xin Ye:

     This letter will confirm our mutual understanding regarding your separation
from employment with Linktone, Ltd. ("LINKTONE") and referred to collectively
with each of Linktone's subsidiaries and affiliates, the "COMPANY"). This letter
constitutes the separation agreement (the "AGREEMENT") which the Company is
offering you.

     1. SEPARATION. Your last day of work at Linktone was February 28, 2006
("SEPARATION DATE"), and your employment with Linktone was terminated on
February 28, 2006. As of the Separation Date, you will not report to work at
Linktone's offices, and except for the Company's obligations under this
Agreement, all benefits, compensation or perquisites of employment will cease
(including but not limited to payment for any internet access, monthly cell
phone and "blackberry" charges).

     2. SEVERANCE PAYMENT. According to the terms of the Employment Agreement
between you and Linktone dated October 1, 2004 (the "EMPLOYMENT AGREEMENT"),
Linktone will pay you a severance pay of RMB yuan 610049.71 (tax unpaid). The
Company may offset or withhold or collect from you an amount sufficient to
satisfy the Company's withholding obligations as employer under applicable laws.
For a period of six month after the Separation Date, the Company will reimburse
each individual member of your family insurance premiums in the amount of up to
USD2500. All imbursement will be paid subject to your delivery of actual expense
receipts/invoices.

     3. RETURN OF COMPANY PROPERTY. To the extent that you have not already done
so, you agree to immediately return to the Company all Company documents (and
all copies thereof) and other Company property which you have had in your
possession or control at any time, including, but not limited to, your laptop
computer and blackberry provided by the Company, the Company's files, notes,
drawings, records, business plans and forecasts, financial information,
specifications, computer-recorded information, tangible property, credit cards,
entry cards, identification badges and keys, and any materials of any kind which
contain or embody any proprietary or confidential information of the Company
(and all reproductions thereof).

     4. CONFIDENTIALITY. You understand that your employment by the Company
creates a relationship of confidence and trust with respect to any information
of a confidential or secret nature that may be disclosed to you by the Company
that relates to the business of the Company or to the business of any parent,
subsidiary, affiliate, customer or supplier of the Company or any other party
with whom the Company agrees to hold information of such party in confidence
(the "PROPRIETARY INFORMATION"). At all time, both during your employment and
after its termination, you shall keep and hold all such Proprietary Information
in strict confidence and trust. Upon

                                       1
<PAGE>
                                                                    Exhibit 4.10

termination of your employment with the Company, you will promptly deliver to
the Company all documents and materials of any nature pertaining to your work
with the Company. You shall not take with you any documents or materials or
copies thereof containing any Proprietary Information.

     5. NON-COMPETITION. You acknowledges that the Company's relationships with
its customers, clients, vendors, employees and other entities are valuable
business assets, and that there is a substantial likelihood that if you directly
compete with the Company, it would result in the unauthorized use or disclosure
of Proprietary Information or interfere with the Company's relationship with its
customers, clients, vendors, employees and other entities, which use or
disclosure of Proprietary Information would be extremely difficult to detect or
prove. Therefore, and in consideration for your employment with the Company, you
agrees that during the period of your employment with the Company and for a
period of 1 year after termination of your employment with Company, you shall
not, directly of indirectly engage or participate in the development, marketing
or distribution of wireless media, entertainment and communication services in
China in three major categories: personalized media, games and entertainment,
and information and communication.

     6. NON-SOLICITATION. You acknowledge that because of your position in the
Company, you will have access to the Company's Proprietary Information and trade
secrets. You agree that during your employment with the Company and for a period
of 2years after termination of your employment with the Company, you shall not
directly or indirectly, (i) divert or attempt to divert from the Company (or any
Affiliate ) any business of any kind, including without limitation the
solicitation of or interference with any of its customers, clients, members,
business partners or suppliers or (ii) solicit, induce, recruit or encourage any
person employed by the Company to terminate his or her employment.

     7. RELEASE AND WAIVER OF CLAIMS. You hereby release, acquit and forever
discharge the Company, its predecessors, successors, or past or present
subsidiaries or affiliated entities, officers, directors, agents, employees and
assigns (collectively the "RELEASEES") of and from any and all claims,
liabilities, demands, causes of action, costs, expenses, attorneys' fees,
damages, indemnities and obligations of every kind and nature, in law, equity,
or otherwise, known and unknown, suspected and unsuspected, disclosed and
undisclosed, arising out of or in any way related to agreements, events, acts or
conduct at any time prior to and including the date you sign this Agreement,
including but not limited to: all such claims and demands directly or indirectly
arising out of or connected with your employment with Linktone or the
termination of your employment; claims of wrongful discharge, constructive
discharge, emotional distress, defamation, invasion of privacy, fraud, breach of
contract, breach of the covenant of good faith and fair dealing, any claims of
discrimination or harassment based on sex, age, race, national origin,
disability or on any other basis and all common law claims and all other laws
and regulations relating to employment.

     8. NON-DISPARAGEMENT. You agree not to, either by yourself or indirectly
through others, disparage, defame, otherwise speak negatively about the Company
or any of the Releasees in any manner, or take or cause to be taken any other
action that is, likely to be harmful to them or their business, business
reputation or personal reputation, provided that you

                                       2
<PAGE>
                                                                    Exhibit 4.10

shall respond accurately and fully to any question, inquiry or request for
information when instructed by the Company or otherwise required by legal
process.

     9. CONTINUING OBLIGATIONS. From the date hereof, you shall remain bound by
the terms of that certain Proprietary Rights and information Agreement between
you and Linktone dated October 1, 2004 attached hereto as Exhibit A (the
"PROPRIETARY RIGHTS AND INFORMATION AGREEMENT "), which shall be considered a
part of this Agreement. You shall also be bound by the provisions of the
Termination Certification that you signed on October 1,2004, which is attached
hereto as Exhibit B. You hereby acknowledge and agree that any violation by you
of any term of this Agreement shall constitute grounds for the Company to deem a
termination for "Cause," as defined in the Employment Agreement between you and
Linktone dated October 1, 2004 and for purposes of the Stock Option
Agreements(the "STOCK OPTION AGREEMENTS"), to have occurred, and in such case
you should immediately lose all rights to exercise any options granted to you
under the Stock Option Agreements. You also acknowledge and agree that the
damages which may be incurred by Linktone as a consequence of any violation by
you of any terms of this Agreement are disastrous and difficult to be accurately
measured; thus both Linktone and you agree that a damage payment of RMB yuan
500,000 from you to Linktone shall constitute a reasonable estimate of minimal
damages incurred by Linktone as a consequence of any violation by you of any
terms of this Agreement.

     10. TAXES. No shares will be delivered to you or your broker pursuant to
the exercise of your options under the Stock Option Agreements and the
applicable stock option plans until the Company has received confirmation that
you or your broker has made arrangements acceptable to the Administrator (as
defined in the Company's applicable option plans) for the satisfaction of
applicable income tax and employment tax withholding obligations. Upon the
exercise of your option, the Company may offset or withhold or collect from you
an amount sufficient to satisfy the Company's withholding obligations as
employer under applicable laws.

     11. INDEMNIFICATION. You hereby agree to indemnify the Company against any
and all losses, liabilities, damages, suits, obligations, judgments or
settlements or any kind (including, without limitation, all reasonable legal
costs, costs of recovery and other expenses incurred by the Company) resulting
from any claim of income tax liability by any court, tribunal, arbitrator,
authority, agency, commission, official or other instrumentality of the People's
Republic of China (including those resulting from cancellation or reclamation of
tax benefits of any kind relating to the Company) arising from the grant,
issuance, vesting, exercise or sale of stock options held by you under the Stock
Option Agreements.

     12. MISCELLANEOUS. The parties agree that, except for the definition of
"Cause" therein and Article 5 thereof and the Proprietary Rights and information
Agreement which is attached hereto and make a part hereof, the Employment
Agreement is terminated and except for their obligations under this Agreement,
neither party has or will have any obligation to perform services or make
payment to the other.

     13. NO ADMISSION OF LIABILITY. It is understood and agreed that this
Agreement is being entered into by the Company solely for the purpose of
avoiding further expense and inconvenience, that this is a compromise settlement
of disputed claims, and that this Agreement

                                       3
<PAGE>
                                                                    Exhibit 4.10

shall not be construed at any time or for any purpose as an admission of
liability by the Company. The liability for any and all claims is expressly
denied by the Company.

     14. EFFECTIVE DATE. This Agreement shall be effective as of the Separation
Date. Nothing in this Agreement is intended to or may be construed to modify,
impair or terminate any of your obligations under any non-solicitation,
confidentiality, non-competition or intellectual property agreements between you
and the Company.

     15. WAIVER. No provision of this Agreement may be waived except by a
written instrument, expressly referring to this Agreement, setting forth the
parties' mutual intent to waive a specified provision hereof, and duly executed
by each of the parties to this Agreement, and no waiver of any one provision of
this Agreement shall be deemed to be a waiver of any other provision.

     16. AMENDMENT. No provision of this Agreement may be amended or modified
except by a written instrument, expressly referring to this Agreement, setting
forth the parties mutual intent to amend or modify a specified provision hereof,
and duly executed by each of the parties to this Agreement.

     17. CHOICE OF LAW. The validity, interpretation, construction and
performance of this Agreement shall be governed by the laws of the State of New
York as a contract entered into and performed entirely within the State of New
York (other than its choice-of-law provisions).

     18. SUBMISSION TO JURISDICTION. Any controversy involving the construction
or application of any terms, covenants or conditions of this Agreement, or any
claims arising out of any alleged breach of this Agreement shall be settled by
the courts in New York in the County of New York or, at the Company's
discretion, the Hong Kong courts, and/or a court or courts in China. You hereby
irrevocably submit to the jurisdiction of the courts of the State of New York,
or if appropriate, a federal court located in New York or if so designated by
the Company, a court in Hong Kong and/or China (which courts, for purposes of
this Agreement, are the only courts of competent jurisdiction), over any suit,
action or other proceeding arising out of, under, or in connection with this
Agreement or its subject matter. THE PARTIES ALSO EXPRESSLY WAIVE ANY RIGHT THEY
HAVE OR MAY HAVE TO A JURY TRIAL OF ANY SUCH SUIT, ACTION OR PROCEEDING.

     19. COSTS AND ATTORNEYS' FEES. If any litigation, action, suit, proceeding,
arbitration or claim before any court, arbitrator or governmental authority, or
any investigation by any governmental authority ("ACTION") is instituted to
remedy, prevent or obtain relief from a default in the performance by any party
to this Agreement of its obligations under this Agreement, the prevailing party
shall recover its attorneys' fees incurred in each and every such Action,
including, without limitation, any and all appeals or petitions therefrom.

     20. ASSIGNMENT AND SUCCESSORS. Neither party shall assign any right or
delegate any obligation hereunder except that the Company may assign this
Agreement in connection with a business combination (whether by merger, sale of
assets or otherwise) with another entity. This Agreement shall be binding upon
and inure to the benefit of the Company, and its successors, and you, your
heirs, executors, administrators and legal representatives.

                                       4
<PAGE>
                                                                    Exhibit 4.10

     21. SEVERABILITY. The invalidity or unenforceability of any provision of
this Agreement shall not affect the validity or enforceability of any other
provision hereof, which shall remain in full force and effect.

     22. COUNTERPARTS. This Agreement may be executed in two counterparts, each
of which shall constitute an original, but both of which taken together shall
constitute one and the same instrument. Execution of a facsimile copy shall have
the same force and effect as execution of an original, and a facsimile signature
shall be deemed an original and valid signature.

     23. REVIEW. The parties agree they have read and understand this Agreement,
and that they affix their signatures hereto voluntarily and without coercion.
You further acknowledge that you have had the opportunity to be represented by
an attorney of your own choosing concerning the waivers contained herein and the
terms of this Agreement, and that the waivers you have made and the terms you
have agreed to herein are knowing, conscious and with full appreciation that you
are forever foreclosed from pursuing any of the claims so waived.

     If this Agreement is acceptable to you, please sign on the line provided
below and return the original by hand delivery or via overnight mail to my
attention in a confidential envelope by March 25, 2006.

                                       Very Truly Yours,

                                       Linktone Ltd.

                                       By:  /s/ Colin Sung
                                          --------------------------------------
                                               Colin Sung
                                               Acting Chief Executive Officer
                                               CFO

     I have read and understand the Agreement above and agree to be bound by its
terms and conditions.

         Xin Ye

          /s/ Xin Ye
          ----------------------------------
         Signature                                                March 20, 2006

                                       5
<PAGE>
                                                                    Exhibit 4.10

                                    EXHIBIT A

                  PROPRIETARY RIGHTS AND INFORMATION AGREEMENT

                                  SEE ATTACHED

                                       6
<PAGE>
                                                                    Exhibit 4.10

                                    EXHIBIT B

                            TERMINATION CERTIFICATION

                                  SEE ATTACHED.

                                       7

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