Document:

EX-10.8

Exhibit 10.8

Equity Pledge Agreement

This Equity Pledge Agreement (this “Agreement”) is entered into as of September 10, 2007 in
Shanghai, the People’s Republic of China (“China” or “PRC”) by and among the following parties:

	(1)	 	Jieli Investment Management Consulting (Shanghai) Co., Ltd. (“Pledgee”)

Registration Number: QiDuHuZongZi No.044356 (Changning)

Registered Address: Room 4B, No. 1358 West Yan’an Road, Changning District, Shanghai
	 
	 	 	and
	 
	(2)	 	Liu Qinying

Nationality: China

ID No.: 310107196204292069

Domicile: Room 803, Building No.3, lane 1128 Xikang Road, Putuo District, Shanghai

	 
	 	 	Yang Le

Nationality: China

ID No.: 440232197003160049

Domicile: Room 11J, Building No.2 Longzhuhuayuanmingzhu Qarter, Buji Town, Longgang District,
Shenzhen, Guangdong
	 
	 	 	(Liu Qinying and Yang Le hereinafter referred to as a “Pledgor” individually, and collectively,
the “Pledgors”)
	 
	(3)	 	Shanghai Jingli Advertising Co., Ltd. (“Jingli Advertising”)

Registration Number: 310230000306109

Registered Address: Room 118 Building No.4, 68 Dongheyan Road, Chengqiao Town, Chongming
County

Legal Representative: Liu Qinying
	 
	 	 	(Pledgee, Pledgors and Jingli Advertising hereinafter referred to as a “Party” individually,
and collectively the “Parties”)

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Whereas:

	1.	 	Jingli Advertising is a limited liability company duly organized and validly existing under
the laws of China;
	 
	2.	 	The Pledgors, natural persons, are PRC citizens and shareholders of Jingli Advertising. Among
others, Liu Qinying holds a 60% equity in Jingli Advertising and Yang Te holds a 40% equity in
Jingi Advertising, respectively;
	 
	3.	 	The Pledgee is a wholly foreign-owned enterprise incorporated and validly existed under the
laws of China;
	 
	4.	 	Concurrently with execution of this Agreement, the Pledgors and the Pledgee have executed the
shareholders’ voting proxy, pursuant to which the Pledgors agree to grant to the Pledgee the
voting rights in Jingli Advertising respectively.
	 
	5.	 	Concurrently with execution of this Agreement, the Pledgors and the Pledgee have entered into
the Exclusive Call Option Agreement, pursuant to which to the extent permitted under the laws
of China, the Pledgors shall unconditionally transfer to the Pledgee all equity interest in
Jingli Advertising;
	 
	6.	 	Concurrently with execution of this Agreement, the Pledgee and Jingli Advertising have
entered into the Exclusive Technical Consulting and Service Agreement (the “Service
Agreement”), pursuant to which the Pledgee shall provide Jingli Advertising with technical
consulting and service on an exclusive basis and the latter shall pay service fees to the
former.
	 
	7.	 	The Pledgor agree to fully and adequately perform, and procure Jingli Advertising to fully
and adequately perform the obligations under the Service Agreement, the Exclusive Call Option
Agreement and the Loan Agreement (if applicable) (the “Transaction Documents”) entered into
with the Pledgee (the “Secured Obligations”).
	 
	8.	 	To ensure that the Pledgors and Jingli Advertising (as appropriate) fully and adequately
perform the Secured Obligations, the Pledgors shall pledge all their equity in Jingli
Advertising to secure the Secured Obligations.

In order to define the rights and obligations of the Parties and as a result of joint negotiations
among the Parties, the Parties hereby enter into this Agreement subject to the following terms and
conditions.

	1.	 	Definition

Unless otherwise provided herein, the following terms shall be construed to have the following
meanings:

	 	(1)	 	Pledge: shall have the meaning ascribed to it in Clause 2 of this Agreement;

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	 	(2)	 	Equity: shall refer to all of the equity interest lawfully held by the Pledgors in
Jingli Advertising (including any capital increase, if applicable) and all rights and
interests now and hereafter therein.
	 
	 	(3)	 	Event of Default: shall refer to any of the events set forth in Clause 8 of this
Agreement.
	 
	 	(4)	 	Notice of Default: shall refer to such notice declaring Event of Default as given
by the Pledgors pursuant to this Agreement.

	2.	 	Pledge

	 	(1)	 	Each Pledgor shall pledge to the Pledgee all of its Equity in Jingli Advertising
(including any contributed capital and future capital increase, if applicable) to secure
the performance by each Pledgor and Jingli Advertising of all of their Secured
Obligations as well as the penalty, damages, expenses in the enforcement of the pledge
and any other amounts payable by each Pledgor or Jingli Advertising to the Pledgee under
the Transaction Documents.
	 
	 	(2)	 	For the purpose of this Agreement, pledge shall refer to any entitlement of the
Pledgee to priority of payment with respect to the proceeds from the conversion or
auction or sale by the Pledgors of the equity pledged to the Pledgee.
	 
	 	(3)	 	Unless otherwise agree to in writing by the Pledgee following the execution of this
Agreement, the pledge hereunder may not be released pending fulfillment by the Pledgors
and Jingli Advertising of their Secured Obligations and written approval of the Pledgee
thereof. The Pledgee shall be entitled to the pledge hereunder until fulfillment of the
said Secured Obligations to the fullest extent.

	3.	 	Nature of Pledge

	 	(1)	 	The pledge hereunder shall be independent of other pledge or secured interest
entitled to by the Pledgee with respect to the Secured Obligations, and shall not operate
to prejudice the validity of such other pledge or secured interest.
	 
	 	(2)	 	No rights of the Pledgors and the Pledgee hereunder shall be abated or prejudiced
under any of the following:

	 	a.	 	extension, exemption, reduction or release of any obligation of any Party
as assented to by the Pledgee;

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	 	b.	 	any amendment to, modification of or addition to the Transaction
Documents;
	 
	 	c.	 	disposition, alteration or release of any other pledge or guaranteed
interest in respect of the Secured Obligations;
	 
	 	d.	 	agreement by and between the Pledgee and a party relevant to any
assertion;
	 
	 	e.	 	any delay, performance, breach or fault on the part of the Pledgee in the
exercise of its rights hereunder;
	 
	 	f.	 	acknowledgement of the unlawfulness, invalidity and/or unenforceability
of any of the Transaction Documents or the enforcement thereof;
	 
	 	g.	 	any other event which may affect the obligations of the Pledgors under
this Agreement.

	4.	 	Effectiveness

	 	(1)	 	This Agreement is made once duly executed by the Parties and shall become effective
as of the date on which the pledge hereunder is recorded in the shareholders’ register of
Jingli Advertising and registered with relevant administration of industry and commerce.
The Parties hereto shall, immediately following execution of this Agreement, process
procedures relevant to the said recording and registration as to ensure that this
Agreement take effect as soon as possible.
	 
	 	(2)	 	If, in the course of the pledge, any Pledgor or Jingli Advertising (as appropriate)
fails to perform the Secured Obligation, the Pledgee shall have the right to enforce the
pledge subject to the terms and conditions of this Agreement.

	5.	 	Custody of Records for Equity subject to Pledge

	 	(1)	 	During the term of the pledge set forth in this Agreement, the Pledgors shall
deliver to the Pledgee’s custody the original capital contribution certificates for their
respective equities in Jingli Advertising. The Pledgors shall, within one week as of
execution of this Agreement, deliver the same to the Pledgee and forward to the Pledgee
the supporting documents evidencing the pledge hereunder being duly recorded in the
shareholders’ register.
	 
	 	(2)	 	Unless assented to in writing by the Pledgee, all proceeds from the equity received
by the Pledgors during the term of this Agreement (if any, including
but not limited to any interest, dividend and etc.) shall be applied to secure the
Secured Obligations hereunder.

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	6.	 	Representations and Warranties of Pledgors and Jingli Advertising

Each Pledgor and Jingli Advertising shall, at the point of execution of this Agreement, severally
and jointly represent and warrant to the Pledgee as follows, and acknowledge that the Pledgee
relies on such representations and warranties in executing and performing this Agreement:

	 	(1)	 	Jingli Advertising is an enterprise duly incorporated and existing under the laws
of China, in which Liu Qinying holds a 60% equity and Yang Le holds a 40% equity. Except
for the foregoing, no individual or entity has any existing or future right to the equity
in Jingli Advertising.
	 
	 	(2)	 	Jingli Advertising has obtained all requisite government approvals, authorizations
and licenses necessary for its incorporation and business operations and has completed
all registrations and filings.
	 
	 	(3)	 	The Pledgors are Chinese citizens with full capacities for civil rights and civil
conducts, have independent and complete legal status and legal capacities to execute,
deliver and perform this Agreement, and can participate in lawsuits as an independent
party, and have the capacities for civil rights as well as for civil conducts in
executing and delivering this Agreement;
	 
	 	(4)	 	The execution and performance by the Pledgors and Jingli Advertising of this
Agreement are in consistency with the articles of association and other documents of
Jingli Advertising, and the Pledgors has obtained all applicable approvals and
authorizations to execute and perform this Agreement;
	 
	 	(5)	 	The execution and performance by the Pledgors of this Agreement do not contravene
any laws, regulations, governmental approvals, governmental notices or other governmental
documents binding upon them, nor violate any agreement, contract or covenant to which the
Pledgors is a party;
	 
	 	(6)	 	The Pledgors have contributed all the capital relevant to the equity in Jingli
Advertising within the prescribed period pursuant to the articles of association of
Jingli Advertising and the laws of China, and have obtained the Capital Verification
Report issued by a qualified accounting firm with respect to such capital contribution;
	 
	 	(7)	 	Except for the pledge hereunder, the Pledgors will not create any other pledge,
security or any other encumbrance on any or part of equity interest in Jingli
Advertising. At the time of the Pledge, the Pledgors shall have full ownership
and entitlement to earnings to the equity in Jingli Advertising subject to the pledge.
The spouses of the Pledgors shall not have any ownership, entitlement to earnings or
other interest in the equity in Jingli Advertising subject to the Pledge.

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	 	(8)	 	Prior to the execution of this Agreement, the Pledgors or Jingli Advertising has
not taken or engaged in any acts or activities which may have any materially adverse
effect on the assets, businesses of Jingli Advertising or the liabilities of the
Pledgors.
	 
	 	(9)	 	As of the execution of this Agreement up to termination of the pledge hereunder,
the Pledgors shall not, without the written consent of the Pledgee, take or engage in any
acts or activities which may have any materially adverse effect on the assets, businesses
of Jingli Advertising or the liabilities of the Pledgors.
	 
	 	(10)	 	Except for the option agreement, the Pledgors have not made any offer to any third
party with respect to transfer or otherwise disposition of any or all of the pledged
equity hereunder, not reached any agreement with respect to any offer by any third party
to acquire any or all of the equity hereunder.
	 
	 	(11)	 	The Pledgors and Jingli Advertising have not created any mortgage, pledge or any
other preemptive interest on any assets of Jingli Advertising. As of the execution of
this Agreement until termination of the pledge hereunder, the Pledgors and Jingli
Advertising warrant that without the prior written consent of the Pledgee, no mortgage,
pledge or any other encumbrance be created on any assets of Jingli Advertising.
	 
	 	(12)	 	All the documents delivered by the Pledgors or Jingli Advertising to the Pledgee
are true, complete and accurate, and are free from any omissions or misrepresentations
which would give rise to inaccuracy or misleading in any material aspect.
	 
	 	(13)	 	At no time shall anyone interfere in the exercise by the Pledgee of its rights
pursuant to this Agreement.
	 
	 	(14)	 	The Pledgee shall have the right to the pledge in a manner set forth in the laws
and this Agreement.
	 
	 	(15)	 	On the date of execution of this Agreement, they warrant that there are no pending
civil, administrative or criminal proceedings or administrative penalties or arbitration
related to the equity, and to their knowledge there are no threatened civil,
administrative or criminal proceedings or administrative penalties or arbitration related
to the equity.

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	 	(16)	 	On the date of execution of this Agreement, there are no taxes, expenses due and
payable or legal procedures, formalities pending relevant to the equity.
	 
	 	(17)	 	The terms and conditions of this Agreement represent manifestation of their true
intentions and are legally binding upon them.

	7.	 	Covenants of Pledgors and Jingli Advertising

	 	(1)	 	The Pledgors and Jingli Advertising severally and jointly covenant to the Pledgee,
that during the term of this Agreement, the Pledgors and Jingli Advertising shall:

	 	a.	 	not transfer the equity, create or permit the existence of any pledge
that may affect the rights and interests of the Pledgeee, without the prior written
consent of the Pledgee, except for transfer of the equity to the Pledgee or the
person designated by the Pledgee at the request of the Pledgee;
	 
	 	b.	 	as of the execution of this Agreement until termination of the pledge
hereunder, not take or engage in any acts or activities which may have any
materially adverse effect on the assets, businesses of Jingli Advertising or the
liabilities of the Pledgors, without the written consent of the Pledgee;
	 
	 	c.	 	as of the execution of this Agreement until termination of the pledge
hereunder, not create any mortgage, pledge or any other encumbrance on any assets of
Jingli Advertising, without the prior written consent of the Pledgee.
	 
	 	d.	 	comply with and follow all applicable laws and regulations, and within
five days of receipt of any notice, order or recommendation issued or formulated by
relevant competent authorities regarding the pledge, shall present the
aforementioned notice, order or recommendation to the Pledgee, and shall comply with
the aforementioned notice, order or recommendation, and act under the reasonable
instructions of the Pledgee.
	 
	 	e.	 	promptly notify the Pledgee of any event or notice received by the
Pledgors that may have an impact on the Pledgee’s rights to the equity or any
portion thereof, as well as any event or notice received by the Pledgors that may
alter any of its obligations under this Agreement or may have an impact upon the
performance of its obligations under this Agreement.

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	 	f.	 	comply with the representations and warranties set forth in Clause 6
above and maintain the same in full force and effect.

	 	(2)	 	The Pledgors agree that the exercise by the Pledgee of the rights pursuant to this
Agreement shall not be interrupted or harmed by the Pledgor or any heirs or
representatives of the Pledgors or any other persons.
	 
	 	(3)	 	The Pledgors warrant to the Pledgee that, in order to protect or perfect the
security granted by this Agreement for the Secured Obligations, it will execute in good
faith and to cause other parties who have an interest in the pledge to execute all
entitlement certificates, deeds required by the Pledgee and/or perform and to cause other
parties who have an interest in the pledge to perform all actions required by the
Pledgee, and that, in order to facilitate the exercise by the Pledgee of the pledge,
enter into all amendments to the equity certificates with the Pledgee or any third party
designated by the Pledgee and provide the Pledgee within a reasonable time with all
documents related the pledge it deems as necessary.
	 
	 	(4)	 	The Pledgors hereby undertake to the Pledgee that for the benefit of each Pledgee,
they will comply with and perform all guarantees, promises, agreements, representations
and conditions under this Agreement. In the event of failure or partial performance of
its guarantees, promises, agreements, representations and conditions, the Pledgors shall
indemnify the Pledgee against all losses resulting therefrom.

	8.	 	Event of Default

	 	(1)	 	The following events shall be deemed Event of Default:

	 	a.	 	any Pledgor, Jingli Advertising, or the heirs or agents thereof fail to
perform all or part of the Secured Obligations;
	 
	 	b.	 	Any representation or warranty by any Pledgor in Clause 6 of this
Agreement is misleading or incorrect in any material aspect;
	 
	 	c.	 	Any Pledgor and/or Jingli Advertising fails to comply with the warranties
in Clause 6 or covenants in Clause 7 of this Agreement;
	 
	 	d.	 	Any Pledgor breaches any terms and conditions in this Agreement;
	 
	 	e.	 	Except as stipulated in Section 7.1.1, any Pledgor abandons the pledged
equity or assigns the pledged equity without the written consent of the Pledgee;

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	 	f.	 	Any of Pledgor’s own borrowings, securities, indemnifications, covenants
or other indebtedness liabilities become subject to a demand of accelerated
repayment or performance due to default on the part of such Pledgor, or become due
but are not capable of being repaid or performed in the prescribed period of time,
which lead the Pledgee to believe that the ability of such Pledgor to perform the
obligations hereunder has been affected;
	 
	 	g.	 	Any Pledgor fails to repay general debts or other indebtedness;
	 
	 	h.	 	The promulgation of related new laws and/or regulations renders this
Agreement illegal or renders it impossible for any Pledgor to continue to perform
its obligations under this Agreement;
	 
	 	i.	 	Any approval, license, permit or authorization of any government agencies
that is necessary to make this Agreement enforceable, legal and effective is
withdrawn, terminated, invalidated or substantively amended;
	 
	 	j.	 	Adverse changes in properties owned by any Pledgor and/or Jingli
Advertising, which lead the Pledgee to believe that that the ability of such Pledgor
to perform its obligations under this Agreement has been affected;
	 
	 	k.	 	Any Pledgor and/or Jingli Advertising suspend, or terminate its business,
or is ordered to cease its business or declare dissolution.
	 
	 	l.	 	Any such other circumstances where the Pledgee is unable to exercise its
right with respect to the pledge as prescribed by the relevant laws.

	 	(2)	 	Upon knowledge or discovery of the occurrence of any circumstances or event that is
set forth in Section 8.1 or may result in the same, the Pledgors shall immediately notify
the Pledgee in writing thereof.
	 
	 	(3)	 	Unless an Event of Default set forth in this Section 8.1 has been successfully
resolved to the satisfaction of the Pledgee, the Pledgee may issue a Notice of Default to
the Pledgors in writing upon the occurrence of the Event of Default or at any time
thereafter, demanding that the Pledgors immediately perform the Secured Obligations or
exercise the pledge pursuant to Clause 9 of this Agreement.

	9.	 	Exercise of Pledge

	 	(1)	 	Prior to the full performance of the Secured Obligations, no Pledgors shall assign
the equity without the written consent of the Pledgee.

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	 	(2)	 	The Pledgee shall exercise the pledge by a Notice of Default to the Pledgors.
	 
	 	(3)	 	Subject to Section 8.3, the Pledgee may exercise its pledge concurrently with the
issuance of the Notice of Default pursuant to Section 8.3 or at any time after the
issuance of the Notice of Default.
	 
	 	(4)	 	The Pledgee shall have entitlement to the proceeds from the conversion, auction or
sales of all or part of the equity hereunder on a preferential basis in accordance with
the legal procedures.
	 
	 	(5)	 	When the Pledgee exercises the pledge pursuant to this Agreement, the Pledgors
shall not set any impediments and provide necessary assistance to enable the Pledgee to
enforce its pledge.

	10.	 	Assignment

	 	(1)	 	Without the prior consent of the Pledgee, the Pledgors shall not have the right to
assign the rights and/or obligations hereunder to any third party.
	 
	 	(2)	 	This Agreement shall be binding upon the Pledgors and their successors, and shall
be valid with respect to the Pledgee and each of its successors and assigns.
	 
	 	(3)	 	The Pledgee may at any time assign its Secured Obligations to any third party
designated by it, in which case the assign shall have the rights and obligations of the
Pledgee under this Agreement, as if it were a party to this Agreement. When the Pledgee
assigns the Secured Obligations, upon the request of the Pledgee, the Pledgors shall
execute relevant agreement and/or documents relating to such assignment.
	 
	 	(4)	 	In the event of a change of the Pledgee due to an assignment, the parties to the
pledge shall execute a new pledge agreement.

	11.	 	Breach

	 	(1)	 	Any breach by any Pledgor of the terms hereunder, or any failure by any Pledgor or
Jingli Advertising to timely perform the Secured Obligations, or occurrence of any of the
Event of Default set forth in Section 8.1, shall deemed as a breach on the part of the
Pledgors. The Pledgee may request the Pledgors to correct the same with a written notice,
and take timely and effective measures to eliminate the outcome of such breach, and
indemnify the Pledgee against the losses arising therefrom subject to the terms and
conditions of this Agreement.

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	 	(2)	 	In case of any breach of any Pledgor, if the Pledgee in its reasonable and
objective discretion considers that it is unpractical or unfair for it to perform its
obligations hereunder, the Pledgee may inform the Pledgor in writing that it will suspend
the performance of its obligations hereunder until the Pledgor ceases its breach, takes
effective measures to eliminate the outcome of such breach, and indemnify the Pledgee
against losses arising from such breach subject to the terms and conditions of this
Agreement.
	 
	 	(3)	 	The losses stated in this Clause, which are sustained by the Pledgee and may be
recovered from the Pledgors, shall include all direct losses, consequential losses which
are foreseeable and reasonable, and relevant expenses arising therefrom, including but
not limited to attorneys’ fees, cost for litigation, arbitration fees, and travel
expenses.

	12.	 	Termination

Upon the full performance of the Secured Obligations, this Agreement shall be terminated, and the
Pledgee shall cancel or terminate this Agreement as soon as reasonably practicable. Theretofore,
the Pledgors shall not terminate this Agreement without the Pledgee’s consent for any reason in any
manner.

	13.	 	Handling Fees and Other Expenses

	 	(1)	 	All fees and out of pocket expenses in connection with this Agreement, including
but not limited to legal fees, cost of production, stamp duty and any other taxes and
fees, shall be borne by the Pledgors. If the Pledgee is legally required to pay the
relevant taxes and fees, the Pledgors shall compensate the Pledgee to the extent of the
taxes and fees paid by the Pledgee.
	 
	 	(2)	 	If the Pledgee has to take any measure or approach to seek recovery due to the
failure of the Pledgors to pay any taxes, fees, or otherwise, the Pledgors shall bear all
the expenses arising therefrom, including but not limited to various taxes, handling
fees, management fees, cost for litigation, attorneys’ fees and insurance premiums
arising from the disposal of the pledge.

	14.	 	Governing Law and Dispute Resolution

	 	(1)	 	The execution, validity, performance, interpretation and the dispute resolution
with respect to this Agreement shall be governed by and construed in accordance with
Chinese laws.
	 
	 	(2)	 	Disputes arising from the interpretation and performance of this Agreement shall
first be resolved through consultation between the parties in good faith,
failing which may be referred by either Party to the China International Economic and
Trade Arbitration Commission for arbitration in Shanghai in accordance with its rules
then effective. The arbitration shall be conducted in Chinese. The arbitration award
shall be final and binding upon the parties.

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	 	(3)	 	Except for the matters under dispute, the Parties hereto shall continue in good
faith to perform their respective obligations under this Agreement.

	15.	 	Notice

All notices or other communications given pursuant to this Agreement shall be made in Chinese and
English, and may be delivered in person or sent by registered mail, postage prepaid, by approved
courier service or by facsimile transmission to the address of such party set forth below.

Jieli Investment Management Consulting (Shanghai) Co., Ltd.

Room 4B, 1358 West Yan’an Road, Changning District, Shanghai

Fax:021—62830552

Tel:021—51695556

Attention:

Liu Qinying

Room 4B, 1358 West Yan’an Road, Changning District, Shanghai

Tel:021—51695556

Attention:

Yang Le

Room 4B, 1358 West Yan’an Road, Changning District, Shanghai

Tel:021—51695556

Attention:

Shanghai Jingli Advertising Co., Ltd.

Address: Room 118 Building No.4, 68 Dongheyan Road, Chengqiao Town, Chongming County

Zip Code:

Fax:

Tel:

Attention:

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	16.	 	Schedule

The schedules hereto shall be an integral part of this Agreement.

	17.	 	Waiver

Any failure or delay by the Pledgee in exercising any of the rights, powers, remedies or privileges
hereunder shall not be deemed a waiver of such rights, powers, remedies or privilege, and any
single or partial exercise by the Pledgee of any rights, powers, remedies or privileges shall not
preclude the Pledgee from exercising any other rights, powers, remedies or privileges. The rights,
powers, remedies and privileges hereunder are cumulative, and do not exclude the applications of
any rights, powers, remedies and privileges provided under the laws.

	18.	 	Miscellaneous

	 	(1)	 	No amendments, addition to or modifications of this Agreement shall be effective
unless in a written form signed and affixed with the seals by the Parties.
	 
	 	(2)	 	If any provision of this Agreement are found to be invalid or unenforceable due to
its inconsistency with relevant laws, such provision is invalid or unenforceable only to
the extent of such laws, and shall not affect the validity of other provisions herein.
	 
	 	(3)	 	This Agreement is made in Chinese and executed in five originals.
	 
	 	(4)	 	This Agreement constitutes the entire agreement between the Parties with respect to
the subject matter hereof and supersedes all oral or written understandings and
agreements the Parties reached with respect to such subject matter prior to the
effectiveness of this Agreement. This Agreement shall not be amended without the
resolution of the Pledgee’s board of directors.

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[This is the signature page, which does not contain any text of this Agreement]

Jieli Investment Management Consulting (Shanghai) Co., Ltd. (seal)

Signature: /s/Liu Qinying

Name: Liu Qinying

Position:

Liu Qinying

Signature: /s/ Liu Qinying

Yang Le

Signature: /s/Yang Le

Shanghai Jingli Advertising Co., Ltd. (Seal)

Signature: /s/Liu Qinying

Name: Liu Qinying

Position:

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Schedules

	1.	 	Register of Shareholders of Jingli Advertising
	 
	2.	 	Capital Contribution Certificate of Jingli Advertising

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Schedule One

Register of Shareholders of Jingli Advertising

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	Capital	 	 	 	 
	 	Shareholder	 	 	Equity Percentage	 	 	Contribution (RMB)	 	 	Recording of Pledge	 
	 	Liu Qinying

	 	 	 	60	%	 	 	300,000(contributed)
	 	 	Given that all the
capital as
contributed is
pledged in favor of
Jieli Investment
Management
Consulting
(Shanghai) Co.,
Ltd., the record of
pledges on the
register of
shareholders shall
be timely amended
upon the payment of
the registered
capital.	 
	 	Yang Le

	 	 	 	40	%	 	 	200,000(contributed)
	 	 	Given that all the
capital as
contributed is
pledged in favor of
Jieli Investment
Management
Consulting
(Shanghai) Co.,
Ltd., the record of
pledges on the
register of
shareholders shall
be timely amended
upon the payment of
the registered
capital.	 
	 

Common seal:

Date: September 10, 2007

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Schedule Two

Capital Contribution Certificate

of

Jingli Advertising

17EX-10.9

Exhibit 10.9

Power of Attorney

This Power of Attorney is signed by the following Principals on September 10, 2007 in Shanghai,
China:

Principals:

	 	 	 
	Principal A:
	 	Liu Qinying

	 	 	 

	ID Card No.:
	 	310107196204292069

	 	 	 

	Address:
	 	Room 803, Building No.3, lane 1128 Xikang Road, Putuo District, Shanghai

	 	 	 

	 	 	 

	Principal B:
	 	Yang Le

	 	 	 

	ID Card No.:
	 	440232197003160049

	 	 	 

	Address:
	 	Room 11J Building No.2 Longzhuhuayuanmingzhu Qarter, Buji Town, Longgang District,
Shenzhen, Guangdong

	 	 	 

	Agent:
	 	Liang Guojun

Whereas:

	(1)	 	The Principals are shareholders of Shanghai Jingli Advertising Co., Ltd. (hereinafter
referred to as “Jiingli Advertising”) in which Liu Qinying and Yang Le hold 60% equity
interest and 40% equity interest respectively;

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	(2)	 	The Principals are willing to irrevocably delegate to the Agent their shareholders’ rights,
and the Agent is willing to accept such delegation.
	 
	 	 	Now therefore, the Principals hereby irrevocably authorizes Agent to exercise all such voting
rights vested in them in the shareholders’ meeting of Jingli Advertising in accordance
with laws and the articles of association of Jinigli Advertising,
including but not limited to, the voting right with respect to the sale or transfer of all or
any equity interest held by the Principals in Jingli Advertising and the designation and
appointment of directors in the shareholders’ meeting of Jingli Advertising , etc., as
authorized representatives of the Principals.

This Power of Attorney is a “full discretionary power of attorney”, that is, the Agent may exercise
the shareholders’ rights on behalf of the Principals at its own discretion and the Principals will
not issue new instructions or requests to the Agent for the exercising of such shareholders’ rights
in Jingli Advertising, provided that the Agent shall exercise such shareholders’ rights on
behalf of the Principals in accordance with the Company Law of China and the articles of
association of Jingli Advertising.

This Power of Attorney shall take effect once signed by the Principals. The authorizations of the
Principals are several. In the event that the authorization of any Principal becomes invalid or
terminated, the authorization of other Principal shall not be affected.

The Principals agree that this Power of Attorney shall take effect as of September 10, 2007. The
Agent acknowledges that the shareholders’ resolution made by the Principals prior to this Power of
Attorney and the Principals shall be deemed to have complied with this Power of Attorney. This
Power of Attorney shall remain valid for 10 years as of effective date hereof. The term of this
Power of Attorney shall be automatically extended for a further ten years unless the Agent
terminates this Power of Attorney in a written form three months prior to the expiration hereof.

The Principals hereof shall faithfully disclose to their successors (if applicable) all provisions
of this Power of Attorney and warrant that their successors (if applicable) will succeed to all the
obligations hereunder.

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[this is the signature page, which does not contain any text of the Power of Attorney]

Signature by: /s/ Liu Qinying

Signature by: /s/ Yang Le

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