Document:

<PAGE>

                                                                     EXHIBIT 4.5

                                                                 [LINKTONE LOGO]

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

                              EMPLOYMENT AGREEMENT

                                      Among

                               MICHAEL LI GUANGXIN

                                       And

                                  LINKTONE LTD.

                           Dated as of October 1, 2004

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

<PAGE>

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

                            1st day of October, 2004
                             (the "Effective Date")

                                 by and between

                                   Michael Li
                                (the "Employee")

                                       and

                          LINKTONE LTD. (THE "COMPANY")

BACKGROUND

WHEREAS the Employee and the Company (a Cayman Islands company) have previously
entered into an Employment Agreement dated April 1, 2003 (the "Original
Employment Agreement") pursuant to which the Employee has been employed by the
Company.

WHEREAS the Employee and the Company desire to enter into this Agreement to
supercede, restate and amend in its entirety the Original Employment Agreement
on the terms set forth herein for the purpose of retaining the services of the
Employee, and to provide the Employee with an inducement to remain with the
Company.

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

Confidential            Copyright (C) 2004 Linktone Ltd.            Page 2 of 26
<PAGE>

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, which
breach is not cured within twenty (20) days after written notice to the Employee
from the Company; (iv) the Employee willfully refuses to implement or follow a
reasonable and lawful policy or directive of the Company, which breach is not
cured within twenty (20) days after written notice to the Employee from the
Company; or (v) the Employee engages in malfeasance demonstrated by a pattern of
failure to perform job duties diligently and professionally.

"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

Confidential            Copyright (C) 2004 Linktone Ltd.            Page 3 of 26
<PAGE>

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 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 as defined in the Preamble.

"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 Operating Officer reporting to the Board of
the Company.

"Employment Contract Termination Date" means the later of April 1, 2006 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) a
change in the Employee's position which materially reduces the Employee's level
of responsibilities, duties or stature; (b) a reduction in the Employee's
Monthly Base Salary or (c) 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.

"Original Employment Agreement" is as defined in the Preamble.

"Performance Targets" shall be as defined in Section 2.1.

"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.

Confidential            Copyright (C) 2004 Linktone Ltd.            Page 4 of 26
<PAGE>

"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.

"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
Operating Officer, 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 officers of the Company. 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 Company. 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: base salary in the amount of RMB 1,407,600 (which
                  is equivalent as of the date hereof to One Hundred and Seventy
                  Thousand U.S. Dollars (US$170,000)) payable in twelve monthly
                  installments ("Monthly Base Salary") and 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 April 30 of the
                  following calendar year, subject to the

Confidential            Copyright (C) 2004 Linktone Ltd.            Page 5 of 26
<PAGE>

                  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 in accordance with Section 2.7 and the formula set
                  forth below, with the Target Variable of RMB 662,400 (which is
                  equivalent as of the date hereof to Eighty Thousand US Dollars
                  (US$80,000)) for the calendar year 2004:

<TABLE>
<CAPTION>
                                                   Percentage of Target Variable
Percentage of Achievement of Performance Targets             Payable
------------------------------------------------   -----------------------------
<S>                                                <C>
Between 80% and 100% (Exclusive)                             50%
100% or above                                               100%
</TABLE>

                  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.

            iii.  One-time bonus: a one-time bonus in the amount of RMB 248,400
                  (which is equivalent as of the date hereof to Thirty Thousand
                  US Dollars (US$30,000)) payable by the Company in lump sum to
                  Employee in the fourth quarter of 2004 or any other date as
                  determined by the Company at its discretion.

                  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 20,700 (which is equivalent to as of the date
                  hereof Two Thousand and Five Hundred US Dollars (US$2,500))
                  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 41,400
                  (which is equivalent to as of the date hereof Five Thousand US
                  Dollars (US$5,000)) per year.

            iii.  Education Reimbursement: reimbursement of education cost
                  incurred for child living in China, up to RMB 124,200 (which
                  is equivalent to as of the date hereof Fifteen Thousand US
                  Dollars (US$15,000)) 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 11,600 (which is equivalent
                  to as of the date hereof One Thousand Four

Confidential            Copyright (C) 2004 Linktone Ltd.            Page 6 of 26
<PAGE>

                  Hundred US Dollars (US$1,400)) 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. Before entering into this Agreement, the
      Employee has been granted the following Employee Stock Options: (1)
      LT2000-1-040103-L208 (as amended pursuant to Amendment No.1) and
      LT2000-1-040103A-L208 (as amended pursuant to Amendment No.1) and (2)
      LT2003-072104-L208, which has the terms set forth in Exhibit B which is
      attached hereto.

2.7   ANNUAL REVIEW. The terms of the compensation package provided under this
      Agreement and the Employee's recommendations in connection therewith shall
      be reviewed by the Compensation Committee and/or the Board from time to
      time. At a minimum, the Company's Compensation Committee will review in
      the second quarter of each calendar year or at such other time as the
      Company and Employee shall agree, (a) the compensation package of the
      Employee, including approval of the annual performance incentive cash
      bonus payable, if any, based on achievement of the prior calendar year's
      Performance Targets and (b) the approval of Performance Targets (with
      specific qualitative and quantitative performance factors) and Target
      Variable for determining the annual incentive bonus payouts for the
      current calendar year. Except for agreed changes, if any, pursuant to
      clause (b) of the preceding sentence, any amendment agreed upon by the
      Board or the Compensation Committee and the Employee to the terms of the
      Employee's compensation package will not be retroactive and shall take
      effect from the time such amendment is made. The parties hereto agree
      that, as a general principle, amendments to the compensation package of
      the Employee shall not be made to, directly or indirectly, address changes
      in applicable law (including tax laws) and other regulatory developments
      which affect the Employee.

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

Confidential            Copyright (C) 2004 Linktone Ltd.            Page 7 of 26
<PAGE>

            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 30 days prior notice to the Company, 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, subject to the Employee's
            compliance with Articles 5, 6 and 7:

      i.    the Company will be obliged to pay the Standard Termination
            Entitlements as defined in Section 3.4.1, and

      ii.   a portion of the Employee Stock Options described under Section
            2.6(1) which are unvested on such date shall vest in accordance with
            the option agreements (as amended) governing those options.

      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:

      i.    the Company will be obligated to pay the Standard Termination
            Entitlements as defined in Section 3.4.1 and the Severance Benefits
            as defined in Section 3.4.2.; provided that Employee's eligibility
            for Severance Benefits is conditioned on Employee having first
            signed a release certificate in the form attached as Exhibit E, and

      ii.   a portion of the Employee Stock Options described under Section
            2.6(1) which are unvested on such date shall vest in accordance with
            the option agreements (as amended) governing those options.

      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

Confidential            Copyright (C) 2004 Linktone Ltd.            Page 8 of 26
<PAGE>

      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:

       i.   the payment of a lump sum amount equal to (i) three (3) plus the
            total number of years between April 1, 2003 (the "Date of Hire") and
            the Employment Final Termination Date, multiplied by (ii) the
            Employee's Monthly Base Salary in effect immediately prior to his
            termination of employment; if the Employment Final Termination Date
            occurs six months or more after an anniversary of the Date of Hire,
            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 the Date of Hire,
            then the total number which the Employee's Monthly Base Salary would
            be multiplied by for purposes of this subsection would be 5.5); and

       ii.  for a period of six months after the Employee's termination of
            employment, direct payment by the Company to the carrier of the
            premiums due for any health insurance continuation coverage elected
            by the Employee under the Company group health plans pursuant to the
            Consolidated Budget Reconciliation of 1985.

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.

Confidential            Copyright (C) 2004 Linktone Ltd.            Page 9 of 26
<PAGE>

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 (six) 6 times the Monthly Rate of Compensation or (y) 12
      months' Monthly Base Salary 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.

4.4   SECTION 280G. In order to avoid the payment of excise tax imposed by
      Section 4999 of the Internal Revenue Code of 1986 (the "Code"), the
      Company may reduce the payments or benefits to the Employee (within the
      meaning of Section 280G(b)(2) of the Code). Such reduction may apply to
      cash payments, vesting acceleration of Employee Stock Options and other
      benefits received by the Employee, which could result in the acceleration
      of vesting of only a portion or none of then unvested Employee Stock
      Options. In no event shall any payment be made under this Agreement if it
      would result in an excess parachute payment under section 280G of the
      Internal Revenue Code of 1986.

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 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. 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.

ARTICLE 7. DISPUTE RESOLUTION

Confidential            Copyright (C) 2004 Linktone Ltd.           Page 10 of 26
<PAGE>

      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 referred to the Hong Kong courts for final
and binding adjudication. 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 in such court. 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 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, including but
      not limited to the Original Employment Agreement, written or oral, with
      respect thereto.

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

Confidential            Copyright (C) 2004 Linktone Ltd.           Page 11 of 26
<PAGE>

      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.

Confidential            Copyright (C) 2004 Linktone Ltd.           Page 12 of 26
<PAGE>

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

EMPLOYEE

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

COMPANY

By: /s/ Raymond L. Yang
    -----------------------
    Name: Raymond L. Yang
    Title: CEO

Confidential            Copyright (C) 2004 Linktone Ltd.           Page 13 of 26
<PAGE>

                                                                       Exhibit A

                         2004 Annual Performance Targets

Financial Targets (representing 70% of the total annual target for the
Employee):

      -     Gross revenue and net income for fiscal year 2004 of at least US$56
            million and US$16 million, respectively;

      -     At least nine million unique paying users in December 2004;

      -     The Company ranks among the top five in gross revenue generated from
            wireless value-added services in China among all third party service
            providers for the fiscal year 2004;

      -     The Company ranks among the top eight in gross revenue generated
            from non-SMS wireless value-added services in China among all third
            party service providers for the fiscal year 2004, and the Company's
            non-SMS gross revenue represents at least 25% of its total gross
            revenue for the fourth quarter of 2004;

      -     Selling and marketing expenses for fiscal year 2004 represent less
            than 18% of total gross revenue for that period; and

      -     The Company does not receive a sanction or service suspension from
            China Mobile or China Unicom either (i) on a nationwide basis or
            (ii) from one or more provinces or municipalities that are material
            to the Company's business, as determined by the Company's
            independent directors.

Non-Financial Targets (representing 30% of the total annual target of the
Employee):

      -     Leadership of the development and integration of a senior management
            team that formulates and implements mid-term and long-term corporate
            strategies, as discussed below. Such leadership includes at a
            minimum:

            -     hiring a vice president level manager(s) of operations,
            marketing and product development; and

            -     taking responsibility for the portions of the corporate
            strategies which are applicable to the Employee's departments and
            affirmatively working with other members of management to reach a
            consensus on the appropriate strategies.

            -     Establishment and maintenance of a defined "Linktone culture"
            which is focused on: (i) total compliance with all Company policies
            and procedures (including, without limitation, the Company's Code of
            Business Conduct, Amended and Restated Pre-clearance and Blackout
            Policy and Insider Trading Policy), and applicable laws, (ii)
            teamwork in implementing the Company's corporate strategies at all
            levels of the Company and (iii) striving to achieve a continuous
            improvement in the Company's business, financial condition and
            results of operations. The creation of this culture includes at a
            minimum:

            -     setting a tone from the top regarding compliance with Company
                  policies and

Confidential            Copyright (C) 2004 Linktone Ltd.           Page 14 of 26
<PAGE>

            procedures and applicable law, which includes promptly taking
            appropriate remedial measures against employees who violate the
            foregoing and reporting violations or suspected violations to the
            Chief Executive Officer and/or the Board of Directors in a timely
            manner;

            -     ensuring that employees within the Employee's departments
            receive periodic training on the foregoing and other issues
            applicable to public companies under U.S. securities laws and Nasdaq
            rules; and

            -     closely supervising sales and other employees in the Company's
            field offices to ensure their compliance with not only Company
            policies and procedures and applicable laws, but also with the
            policies of China Mobile and China Unicom.

      -     Develop specific mid-term and long-term corporate strategies with
            other members of management which are extensively discussed with,
            and approved by, the Board of Directors prior to implementation.
            This includes at a minimum:

            -     regularly reporting to the Board of Directors on his
            understanding of the strategies and how he will facilitate their
            implementation;

            -     tangibly supporting the Chief Executive Officer in
            implementing 1-2 new strategy initiatives by January 1, 2005; and

            -     devoting significant time to pursuing M&A and strategic
investment opportunities that complement the Company's business, and supporting
the Chief Executive Officer to enter into term sheets for (or complete) 1-2 M&A
or strategic investments.

Confidential            Copyright (C) 2004 Linktone Ltd.           Page 15 of 26
<PAGE>

                                                                       Exhibit B

                          Key Terms of New Option Grant

Plan under Which Granted:          2003 Stock Incentive Plan

Grant Date:                        July 19, 2004

Vesting Commencement Date:         July 19, 2004

Exercise Price per Ordinary Share: US$1.04

Total number of Ordinary Shares
subject to the Option:             125,000

Total Exercise Price:              US$130,000

Expiration Date:                   July 18, 2014

Type of Option:                    Incentive

Post-Termination Exercise Period:  Three months

Vesting Schedule:                  25% of the Shares subject to the Option shall
                                   vest twelve months after the Vesting
                                   Commencement Date, and 1/48 of the Shares
                                   subject to the Option shall vest on each
                                   monthly anniversary of the Vesting
                                   Commencement Date thereafter.

Confidential            Copyright (C) 2004 Linktone Ltd.           Page 16 of 26
<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.
and Shanghai Unilink Computer Co. Ltd. (collectively, the "Company"), I hereby
represent to, and agree with, the Company as follows:

      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 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

Confidential            Copyright (C) 2004 Linktone Ltd.           Page 17 of 26
<PAGE>

      business of Company. I agree that Company may from time to time create a
      list of specific 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 Secretary 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

Confidential            Copyright (C) 2004 Linktone Ltd.           Page 18 of 26
<PAGE>

      hereafter have for infringement of any proprietary rights assigned
      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 one (1) year 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.   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.

14.   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 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.

Confidential            Copyright (C) 2004 Linktone Ltd.           Page 19 of 26
<PAGE>

15.   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.

16.   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.

17.   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.

18.   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.

19.   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.

20.   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.

21.   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 26
<PAGE>

This Agreement shall be effective as of Effective Date.

EMPLOYEE

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

COMPANY

By: /s/ Raymond L. Yang
    -----------------------
    Name: Raymond L. Yang
    Title: CEO

Confidential            Copyright (C) 2004 Linktone Ltd.           Page 21 of 26
<PAGE>

                                                                       Exhibit D

                              Non-Compete Agreement

Dear Michael 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. and Shanghai Unilink Computer 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 26
<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, 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 Chief Executive
Officer or President of the Company in an express writing signed and dated by
him or her 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 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

Confidential            Copyright (C) 2004 Linktone Ltd.           Page 23 of 26
<PAGE>

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: /s/ Raymond L. Yang
                                                  ------------------------------
                                                  Name: Raymond L. Yang
                                                  Title: CEO

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

/s/ Michael Li Guangxin
-----------------------
Michael Li Guangxin

Confidential            Copyright (C) 2004 Linktone Ltd.           Page 24 of 26
<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:

      Within ten (10) 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] ("Agreement").

      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.

      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.

      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.

      Please note that this Release Certificate may not be signed before the
last day of your

Confidential            Copyright (C) 2004 Linktone Ltd.           Page 25 of 26
<PAGE>

employment with the company, and that your eligibility for severance benefits is
conditioned upon meeting the terms set forth in the Agreement.

_______________________________     Date:  ___________________
          [Employee]

_______________________________     Date:  ___________________
       [Company Signatory]

Confidential            Copyright (C) 2004 Linktone Ltd.           Page 26 of 26<PAGE>
                                                                     EXHIBIT 4.6

                              EMPLOYMENT AGREEMENT

      This Employment Agreement, dated October 1, 2004, is between Linktone
Ltd., a Cayman Islands exempted company (the "Company") and XIN YE
("Executive").

1.    POSITION AND RESPONSIBILITIES

      1.1 POSITION. Executive is employed by the Company to render services to
the Company in the position of Chief Technology Officer. Executive 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 Executive by the Company. Executive shall abide by the
rules, regulations, and practices as adopted or modified from time to time in
the Company's sole discretion.

      1.2 OTHER ACTIVITIES. Executive shall devote his/her full business time,
attention and skill to perform any assigned duties, services and
responsibilities while employed by the Company, for the furtherance of the
Company's business, in a diligent, loyal and conscientious manner. Except upon
the prior written consent of the Company, Executive will not, during the term of
this Agreement, (i) accept any other employment, or (ii) engage, directly or
indirectly, in any other business activity (whether or not pursued for pecuniary
advantage) that might interfere with Executive's duties and responsibilities
hereunder or create a conflict of interest with the Company.

      1.3 NO CONFLICT. Executive represents and warrants that Executive's
execution of this Agreement, Executive's employment with the Company, and the
performance of Executive's proposed duties under this Agreement shall not
violate any obligations Executive may have to any other employer, person or
entity, including any obligations with respect to proprietary or confidential
information of any other person or entity.

2.    COMPENSATION AND BENEFITS

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

      i. Base Salary: base salary in the amount of RMB 1,324,800 (which is
equivalent as of the date hereof to One Hundred and Sixty Thousand U.S. Dollars
(US$160,000)) payable in twelve monthly installments ("Monthly Base Salary") and
pro rated for the number of days actually worked by Executive in any month in
which the termination of the employment occurs;

                                                                               1
<PAGE>

      ii. Annual Performance Incentive Cash Bonus: an annual performance
incentive cash bonus, payable on or before April 30 of the following calendar
year, subject to the Executive'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 "Compensation
Committee") of the board of directors of the Company (the "Board") in accordance
with Section 2.7 and the formula set forth below, with the Target Variable of
RMB 496,800 (which is equivalent as of the date hereof to Sixty Thousand US
Dollars (US$60,000)) for the calendar year 2004:

<TABLE>
<CAPTION>
                                                       Percentage of Target
Percentage of Achievement of Performance Targets         Variable Payable
------------------------------------------------       --------------------
<S>                                                    <C>
Between 80% and 100% (Exclusive)                               50%

100% or above                                                 100%
</TABLE>

      The Executive is not entitled to any annual incentive cash bonus mentioned
above unless he has been employed by the Company for the full calendar year.

      iii. One-time bonus: a one-time bonus in the amount of RMB 248,400 [(which
is equivalent as of the date hereof to Thirty Thousand US Dollars (US$30,000))
payable by the Company in lump sum to the Executive in the fourth quarter of
2004 or any other date as determined by the Company at its discretion.

      The Cash Compensation shall be payable in RMB. The Executive 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 Executive 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 terms of the employment under this Agreement, as
compensation for services hereunder, the Executive shall be entitled to the
following benefits ("Benefits") as follows:

      i. Housing Allowance: housing allowance in the aggregate amount of up to
RMB 20,700 (which is equivalent as of the date hereof to Two Thousand Five
Hundred US Dollars (US$2,500)) per month.

                                                                               2
<PAGE>

      ii. Insurance: health and life insurance providing international standard
coverage as determined by the Compensation Committee after consultation with the
Executive, with insurance premiums per individual family member in the amount of
up to RMB 41,400 (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
child living in China, up to RMB 124,200 (which is equivalent to as of the date
hereof Fifteen Thousand US Dollars (US$15,000)) 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
Executive on one overseas business trip per year.

      vi. Tax Advisory Services: reimbursement for actual tax advisory service
fees incurred, up to RMB 11,600 (which is equivalent to as of the date hereof
One Thousand Four Hundred US Dollars (US$1,400)) per year.

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

      2.3 INDIVIDUAL INCOME TAX. The Executive shall be responsible for paying
his own individual income tax in respect of the compensation received hereunder,
and Executive 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
Executive's Monthly Base Salary, which deduction Executive hereby consents to.

      2.4 ANNUAL LEAVE. The Executive 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
Executive for reasonable business expenses actually incurred or paid by the
Executive during the Employment Term, in the performance of his services
hereunder.

      2.6 EMPLOYEE STOCK OPTION AWARD. The Company has granted to Executive a
qualified stock options, LT-2003-11-01-03-L362 and LT2003-072104-L362, under the

                                                                               3
<PAGE>

Company's 2003 Stock Incentive Plan , the latter which stock option has the key
terms set forth in Exhibit B which is attached hereto.

      2.7 ANNUAL REVIEW. The terms of the compensation package provided under
this Agreement and the Executive's recommendations in connection therewith shall
be reviewed by the Compensation Committee and/or the Board from time to time. At
a minimum, the Company's Compensation Committee will review in the second
quarter of each calendar year or at such other time as the Company and Executive
shall agree, (a) the compensation package of the Executive, including approval
of the annual performance incentive cash bonus payable, if any, based on
achievement of the prior calendar year's Performance Targets and (b) the
approval of Performance Targets (with specific qualitative and quantitative
performance factors) and Target Variable for determining the annual incentive
bonus payouts for the current calendar year. Except for agreed changes, if any,
pursuant to clause (b) of the preceding sentence, any amendment agreed upon by
the Board or the Compensation Committee and the Executive to the terms of the
Executive's compensation package will not be retroactive and shall take effect
from the time such amendment is made. The parties hereto agree that, as a
general principle, amendments to the compensation package of the Executive shall
not be made to, directly or indirectly, address changes in applicable law
(including tax laws) and other regulatory developments which affect the
Executive.

3.    TERMINATION OF EMPLOYMENT

      3.1 GENERAL.

            3.1.1 COMPANY'S RIGHT TO TERMINATE. The Company shall have the right
      to terminate the employment of the Executive 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 EXECUTIVE'S RESIGNATION RIGHT. The Executive shall have the
      right to resign for any reason with 30 days prior notice to the Company,
      but the relative rights and obligations of the parties in the event of any
      such resignation shall be determined under this Agreement.

      3.2 TERMINATION UNDER CERTAIN CIRCUMSTANCES.

            3.2.1 TERMINATION FOR CAUSE. In the event the Company terminates the
      Executive's employment for Cause, subject to the Executive'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, and the
      Executive's right to exercise the Employee Stock

                                                                               4
<PAGE>

      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 Executive resigns for any reason other than Good Reason, subject
      to the Executive's compliance with Articles 5, 6 and 7:

            i.    the Company will be obliged to pay the Standard Termination
                  Entitlements as defined in Section 3.4 and

            ii.   a portion of the Employee Stock Options described under
                  Section 2.6 which are unvested on such date shall vest in
                  accordance with the option agreements (as amended) governing
                  those options.

            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 Executive's employment without
      Cause or the Executive resigns for Good Reason, subject to the Executive's
      compliance with Articles 5, 6 and 7:

            i.    the Company will be obligated to pay the Standard Termination
                  Entitlements as defined in Section 3.4 and the Severance
                  Benefits as defined in Section 3.4; provided that Executive's
                  eligibility for Severance Benefits is conditioned on Executive
                  having first signed a release certificate in the form attached
                  as Exhibit C, and

            ii.   a portion of the Employee Stock Options described under
                  Section 2.6 which are unvested on such date shall vest in
                  accordance with the option agreements (as amended) governing
                  those options.

            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 Executive hereby stipulate that
the damages which may be incurred by the Executive as a consequence of any such
termination of employment are not capable of accurate measurement as of the date
of this Agreement 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.

"Cause" means (i) the Executive commits a crime involving dishonesty, breach of
trust, or physical harm to any person; (ii) the Executive willfully engages in
conduct that is in bad faith and materially injurious to the Company, including
but not limited to, misappropriation of trade

                                                                               5
<PAGE>

secrets, fraud or embezzlement; (iii) the Executive commits a material breach of
this Agreement or the Proprietary Information Agreement (as defined below),
which breach is not cured within twenty (20) days after written notice to the
Executive from the Company; (iv) the Executive willfully refuses to implement or
follow a reasonable and lawful policy or directive of the Company, which breach
is not cured within twenty (20) days after written notice to the Executive from
the Company; or (v) the Executive engages in malfeasance demonstrated by a
pattern of failure to perform job duties diligently and professionally.

"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 Executive 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 U.S. Securities Exchange Act of 1934, as amended,
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. "Affiliate" in this
context means with respect to any Person directly or indirectly Controlling,
Controlled by, or under common Control with such Person. "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).

"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

                                                                               6
<PAGE>

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 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. "Administrator" means the Compensation Committee or the Board who
administer the Employee Stock Options under applicable stock option agreements
or stock incentive plans or schemes. "Ordinary Shares" means the ordinary shares
of the Company.

"Employee Stock Options" shall be the right given by the Company to the
Executive 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 Final Termination Date" means the date upon which the Executive's
employment with the Company ceases for any reason.

"Good Reason" in the context of the Executive's resignation is defined as (a) a
change in the Executive's position which materially reduces the Executive's
level of responsibilities, duties or stature; (b) a reduction in the Executive's
Monthly Base Salary or (c) a relocation of the Executive's principal place of
employment by more than 50 miles.

"Severance Benefits" means:

            i.    the payment of a lump sum amount equal to (i) three (3) plus
                  the total number of years between November 18, 2003 (the "Date
                  of Hire") and the Employment Final Termination Date,
                  multiplied by (ii) the Employee's Monthly Base Salary in
                  effect immediately prior to his termination of employment; if
                  the Employment Final Termination Date occurs six months or
                  more after an anniversary of the Date of Hire, 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 the Date of
                  Hire, then the total number which the Employee's Monthly Base
                  Salary would be multiplied by for purposes of this subsection
                  would be 5.5); and

            (1)   for a period of six months after the Employee's termination of
                  employment, direct payment by the Company to the carrier of
                  the premiums due for any health insurance continuation
                  coverage elected by the Employee under the Company group
                  health plans pursuant to the Consolidated Budget
                  Reconciliation of 1985.

                                                                               7
<PAGE>

"Standard Termination Entitlements" means and includes:

      i.    the Executive'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 Executive's
            termination of employment;

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

      iii.  all of the Executive'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.

4.    CHANGE IN CONTROL/CORPORATE TRANSACTION.

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

      4.2 HEALTH AND LIFE INSURANCE BENEFITS. If a Change in Control or
Corporate Transaction occurs, then the Executive 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.

      4.3 SECTION 280G. In order to avoid the payment of excise tax imposed by
Section 4999 of the Internal Revenue Code of 1986 (the "Code"), the Company may
reduce the payments or benefits to the Executive (within the meaning of Section
280G(b)(2) of the Code). Such reduction may apply to cash payments, vesting
acceleration of Employee Stock Options and other benefits received by the
Executive, which could result in the acceleration of vesting of only a portion
or none of then unvested Employee Stock Options. In no event shall any payment
be made under this Agreement if it would result in an excess parachute payment
under section 280G of the Internal Revenue Code of 1986.

                                                                               8
<PAGE>

5.    INVENTIONS AND PROPRIETARY INFORMATION; PROHIBITION ON THIRD PARTY
      INFORMATION

      5.1 PROPRIETARY RIGHTS AND INFORMATION AGREEMENT. Executive agrees to sign
and be bound by the terms of the Proprietary Rights and Information Agreement,
which is attached as Exhibit D ("Proprietary Information Agreement").

      5.2 NON-DISCLOSURE OF THIRD PARTY INFORMATION. Executive represents and
warrants and covenants that Executive shall not disclose to the Company, or use,
or induce the Company to use, any proprietary information or trade secrets of
others at any time, including but not limited to any proprietary information or
trade secrets of any former employer, if any; and Executive acknowledges and
agrees that any violation of this provision shall be grounds for Executive's
immediate termination and could subject Executive to substantial civil
liabilities and criminal penalties. Executive further specifically and expressly
acknowledges that no officer or other employee or representative of the Company
has requested or instructed Executive to disclose or use any such third party
proprietary information or trade secrets.

      5.3 CERTIFICATE REGARDING CONFIDENTIAL AND TRADE SECRET INFORMATION.
Executive agrees to sign and be bound by the terms of the Certificate Regarding
Confidential and Trade Secret Information, which is attached as Exhibit E.

6.    LIMITED AGREEMENT NOT TO COMPETE OR SOLICIT

      6.1 NON-COMPETITION. Employee 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
Employee 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 my employment with the
Company, Employee agrees that during the period of his employment with the
Company and for a period of 1 year after termination of his employment with
Company, he shall not, directly or 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.

      6.2 NON-SOLICITATION. Employee acknowledges that because of his position
in the Company, he will have access to the Company's confidential information
and trade secrets. Employee agrees that during his employment with the Company
and for a period of 2 years after termination of his employment with the
Company, Employee 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,

                                                                               9
<PAGE>

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.    ARBITRATION

Executive agrees to sign and be bound by the terms of the Arbitration Agreement,
which is attached as Exhibit F.

8.    AMENDMENTS; WAIVERS; REMEDIES

This Agreement may not be amended or waived except by a writing signed by
Executive and by a duly authorized representative of the Company. Failure to
exercise any right under this Agreement shall not constitute a waiver of such
right. Any waiver of any breach of this Agreement shall not operate as a waiver
of any subsequent breaches. All rights or remedies specified for a party herein
shall be cumulative and in addition to all other rights and remedies of the
party hereunder or under applicable law.

9.    ASSIGNMENT; BINDING EFFECT

      9.1 ASSIGNMENT. The performance of Executive is personal hereunder, and
Executive agrees that Executive shall have no right to assign and shall not
assign or purport to assign any rights or obligations under this Agreement. This
Agreement may be assigned or transferred by the Company; and nothing in this
Agreement shall prevent the consolidation, merger or sale of the Company or a
sale of any or all or substantially all of its assets.

      9.2 BINDING EFFECT. Subject to the foregoing restriction on assignment by
Executive, this Agreement shall inure to the benefit of and be binding upon each
of the parties; the affiliates, officers, directors, agents, successors and
assigns of the Company; and the heirs, devisees, spouses, legal representatives
and successors of Executive.

10.   NOTICES

Any notice under this Agreement must be in writing and addressed to the Company
or to Executive at the corresponding address below. Notices under this Agreement
shall be effective upon (a) hand delivery, when personally delivered; (b)
written verification of receipt, when delivered by overnight courier or
certified or registered mail; or (c) acknowledgment of receipt of electronic
transmission, when delivered via electronic mail or facsimile. Executive shall
be obligated to notify the Company in writing of any change in Executive's
address. Notice of change of address shall be effective only when done in
accordance with this paragraph.

                                                                              10
<PAGE>

Company's Notice Address:

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

Executive's Notice Address:

         Xin Ye
         5th Floor, No. 689 Beijing Dong Rd.,
         Shanghai 200001, People's Republic of China

11.   SEVERABILITY

If any provision of this Agreement shall be held by a court or arbitrator to be
invalid, unenforceable, or void, such provision shall be enforced to the fullest
extent permitted by law, and the remainder of this Agreement shall remain in
full force and effect. In the event that the time period or scope of any
provision is declared by a court or arbitrator of competent jurisdiction to
exceed the maximum time period or scope that such court or arbitrator deems
enforceable, then such court or arbitrator shall reduce the time period or scope
to the maximum time period or scope permitted by law.

12.   TAXES

All amounts paid under this Agreement (including without limitation Base Salary)
shall be reduced by all applicable state and federal tax withholdings and any
other withholdings required by any applicable jurisdiction.

13.   GOVERNING LAW

The validity, interpretation, enforceability, and performance of this Agreement
shall be governed by and construed in accordance with the laws of the State of
New York, without regard to New York conflict of laws principles.

14.   INTERPRETATION

This Agreement shall be construed as a whole, according to its fair meaning, and
not in favor of or against any party. Sections and section headings contained in
this Agreement are for reference purposes only, and shall not affect in any
manner the meaning or interpretation of this Agreement. Whenever the context
requires, references to the singular shall include the plural and the plural the
singular.

                                                                              11
<PAGE>

15.   OBLIGATIONS SURVIVE TERMINATION OF EMPLOYMENT

Executive agrees that any and all of Executive's obligations under this
agreement, including all the Exhibits, shall survive the termination of
employment and the termination of this Agreement.

16.   COUNTERPARTS

This Agreement may be executed in any number of counterparts, each of which
shall be deemed an original of this Agreement, but all of which together shall
constitute one and the same instrument.

17.   AUTHORITY

Each party represents and warrants that such party has the right, power and
authority to enter into and execute this Agreement and to perform and discharge
all of the obligations hereunder; and that this Agreement constitutes the valid
and legally binding agreement and obligation of such party and is enforceable in
accordance with its terms.

18.   ENTIRE AGREEMENT

This Agreement (including the Exhibits attached hereto, which are incorporated
herein by reference) is the final, complete and exclusive agreement of the
parties with respect to the subject matter hereof and supersedes and merges all
prior or contemporaneous representations, discussions, proposals, negotiations,
conditions, communications and agreements, whether written or oral, between the
parties relating to the subject matter hereof and all past courses of dealing or
industry custom.

                                                                              12
<PAGE>

EXECUTIVE ACKNOWLEDGES EXECUTIVE HAS HAD THE OPPORTUNITY TO CONSULT LEGAL
COUNSEL CONCERNING THIS AGREEMENT, THAT EXECUTIVE HAS READ AND UNDERSTANDS THE
AGREEMENT, THAT EXECUTIVE IS FULLY AWARE OF ITS LEGAL EFFECT, AND THAT EXECUTIVE
HAS ENTERED INTO IT FREELY BASED ON EXECUTIVE'S OWN JUDGMENT AND NOT ON ANY
REPRESENTATIONS OR PROMISES OTHER THAN THOSE CONTAINED IN THIS AGREEMENT.

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

EMPLOYEE

By: /s/ Xin Ye
    --------------
      Xin Ye

COMPANY

By: /s/ Raymond Yang
    ------------------
    Name: Raymond Yang
    Title: CEO

                                                                              13
<PAGE>

                                                                       EXHIBIT A

                         2004 Annual Performance Targets

Financial Targets (representing 50% of the total annual target for the
Executive):

      -     Gross revenue and net income for fiscal year 2004 of at least US$56
            million and US$16 million, respectively;

      -     The Company does not receive a sanction or service suspension from
            China Mobile or China Unicom either (i) on a nationwide basis or
            (ii) from one or more provinces or municipalities that are material
            to the Company's business, as determined by the Company's
            independent directors.

Non-Financial Targets (representing 50% of the total annual target of the
Executive):

      -     Leadership of the development and integration of a senior management
            team that formulates and implements mid-term and long-term corporate
            strategies, as discussed below. Such leadership includes at a
            minimum:

            - taking responsibility for the portions of the corporate strategies
            which are applicable to the Executive's departments and
            affirmatively working with other members of management to reach a
            consensus on the appropriate strategies.

      -     Establishment and maintenance of a defined "Linktone culture" which
            is focused on: (i) total compliance with all Company policies and
            procedures (including, without limitation, the Company's Code of
            Business Conduct, Amended and Restated Pre-clearance and Blackout
            Policy and Insider Trading Policy), and applicable laws, (ii)
            teamwork in implementing the Company's corporate strategies at all
            levels of the Company and (iii) striving to achieve a continuous
            improvement in the Company's business, financial condition and
            results of operations. The creation of this culture includes at a
            minimum:

            - setting a tone from the top regarding compliance with Company
            policies and procedures and applicable law, which includes promptly
            taking appropriate remedial measures against Executives who violate
            the foregoing and reporting violations or suspected violations to
            the Chief Executive Officer and/or the Board of Directors in a
            timely manner; and

            - ensuring that employees within the Executive's departments receive
            periodic training on the foregoing and other issues applicable to
            public companies under U.S. securities laws and Nasdaq rules.

<PAGE>

      -     Develop specific mid-term and long-term corporate strategies with
            other members of management which are extensively discussed with,
            and approved by, the Board of Directors prior to implementation.
            This includes at a minimum:

            - regularly reporting to the Board of Directors on his understanding
            of the strategies and how he will facilitate their implementation;

            - maintaining the Company's wireless value-added services technology
            platform so that service errors and service interruptions are
            eliminated or minimized to the greatest extent possible. At a
            minimum, the Executive must ensure that problems with the Company's
            technology platform do not result in a cancellation of an agreement
            with the national, provincial or local offices of China Mobile or
            China Unicom, or an amendment to such agreements that adversely
            affects the Company's financial condition and results of operations
            (e.g., a reduction of the Company's revenue share percentage
            resulting from service delivery errors due to the Company's
            technology platform);

            - materially and tangibly enhancing the scalability, reliability and
            performance of the Company's technology platform, including at a
            minimum, launching a new version (free of material defects and
            operating in accordance with specifications approved by the Chief
            Executive Officer) of the Company's user management system with
            business intelligence functions to support customer research and
            customer support departments;

            - continually devoting resources to the development of new,
            innovative products, including specifically live launches of new
            IVRS products for the networks of China Unicom and local PHS mobile
            operators in China;

            - rolling out new products and services in accordance with the
            milestones developed by the Chief Executive Officer, including the
            following:

                  - enhanced WAP content management system which supports China
            Unicom's WAP 2.0 system (to be launched in the stages and according
            to the time frame in which China Unicom rolls out its system);

                  - enhanced WAP 2.0 system which supports China Mobile's WAP
            2.0 system (to be launched in the stages and according to the time
            frame in which China Mobile rolls out its system); and

                  - materially and tangibly enhancing the Company's websites,
            with improved SMS, MMS and IVRS channels that allow users to
            reliably and quickly access the Company's services and a user
            management system; the Company's websites must have a minimum of [ ]
            page views for the months of November and December 2004 in the
            aggregate.

<PAGE>
                                                                       EXHIBIT B

                          Key Terms of New Stock Grant

Plan under Which Granted:                   2003 Stock Incentive Plan

Grant Date:                                 July 19, 2004

Vesting Commencement Date:                  July 19, 2004

Exercise Price per Ordinary Share:          US$1.04

Total number of Ordinary Shares
subject to the Option:                      100,000

Total Exercise Price:                       US$104,000

Expiration Date:                            July 18, 2014

Type of Option:                             Incentive

Post-Termination Exercise Period:           Three months

Vesting Schedule:                            25% of the Shares subject
                                             to the Option shall vest twelve
                                             months after the Vesting
                                             Commencement Date, and 1/48 of the
                                             Shares subject to the Option shall
                                             vest on each monthly anniversary of
                                             the Vesting Commencement Date
                                             thereafter.

<PAGE>

                                                                       EXHIBIT C

                           Form of Release Certificate

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

      Within ten (10) 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] ("Agreement").

      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.

      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.

      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

<PAGE>

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.

      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.

_______________________________     Date:  ___________________

         [Employee]

_______________________________     Date:  ___________________

         [Company Signatory]

<PAGE>

                                                                       EXHIBIT D

                  PROPRIETARY RIGHTS AND INFORMATION AGREEMENT

            In consideration of my employment by Linktone Ltd. (the "Company"),
I hereby agree to the following restrictions and obligations placed on my use
and development of information, technology, ideas, inventions and other
materials:

1. PROPRIETARY INFORMATION

      a. RESTRICTIONS ON PROPRIETARY INFORMATION. I agree that, during my
employment and at all times thereafter, I will hold the Proprietary Information
of the Company in strict confidence and will neither use the information for the
benefit of myself or any other third party nor disclose it to anyone, except to
the extent necessary to carry out my responsibilities as an employee of the
Company or as specifically authorized in writing by a duly authorized officer of
the Company other than me. I understand that "Proprietary Information" means all
information pertaining in any manner to the business of the Company or its
affiliates, consultants, customers, business associates or members, unless (i)
the information is or becomes generally known to the public through lawful means
and through no fault of mine; (ii) the information was part of my general
knowledge prior to the initial disclosure of the information by the Company or
any person under a duty of confidentiality; or (iii) the information is
disclosed to me without restriction by a third party who rightfully possesses
the information and is under no duty of confidentiality. This definition of
"Proprietary Information" includes but is not limited to any and all (a)
technical or non-technical information, know-how, computer software (whether in
source code or object code form), programs, tools, data, research, designs,
drawings, diagrams, plans, specifications, trade secrets, inventions, concepts,
structures, improvements, products, patents pending, prototypes, processes,
formulas, algorithms, methods, techniques, hardware, devices, schematics, works
in process, systems, technologies or applications; (b) financial and other
information about costs, profits, markets, sales and pricing structures,
customers, subscribers, members, and bids; (c) plans, forecasts and strategies
for business, marketing, future development and new product concepts; and (d)
employee personnel files and information about employee compensation and
benefits; in any form and whether or not labeled or identified as confidential
or proprietary. I agree that I will have the burden of proving the applicability
of any of the foregoing exceptions.

      b. LOCATION AND REPRODUCTION. I agree to maintain at my work station
and/or any other place under my control only such Proprietary Information as I
have a current "need to know." I agree to return to the appropriate person or
location or otherwise properly dispose of Proprietary Information once that need
to know no longer exists. I also agree that I will make copies and otherwise
reproduce Proprietary Information solely to the extent necessary to carry

<PAGE>

out my responsibilities as an employee of the Company or as specifically
authorized by a duly authorized officer of the Company other than me.

      c. PRIOR ACTIONS AND KNOWLEDGE. Except as disclosed on Schedule A to this
Agreement, I have no knowledge about the Company's business or Proprietary
Information, other than information I have learned from the Company in the
course of being hired and employed.

      d. THIRD-PARTY INFORMATION. I recognize that the Company has received and
will receive confidential or proprietary information from third parties. I will
hold all such information in the strictest confidence and will not use the
information or disclose it to anyone (except as necessary in carrying out my
work for the Company consistent with the Company's agreement with such third
party).

      e. NON-SOLICITATION. I acknowledge that because of my position in the
Company, I will have access to the Company's confidential information and trade
secrets. I agree that during my employment with the Company and for a period of
2 years after termination of my employment with the Company, I 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.

      f. NON-COMPETITION. I acknowledge 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 I 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 my employment with the Company, I
agree that during the period of my employment with the Company and for a period
of 1 year after termination of my employment with Company, I shall not, directly
or 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. I acknowledge that a portion of the salary I
receive during my employment with the Company constitutes due consideration for
my obligations hereunder.

<PAGE>

2.    INNOVATIONS

      a. INNOVATIONS. "Innovations" collectively means any and all ideas,
concepts, inventions, discoveries, developments, software, content, textual or
artistic works, video, graphics, sound recordings, know-how, structures,
designs, formulas, algorithms, methods, products, processes, systems and
technologies in any stage of development that are conceived, created, developed
or reduced to practice by me alone or with others; any and all patents, patents
pending, copyrights, moral rights, trademarks and any other intellectual
property rights therein; and any and all improvements, modifications, derivative
works from, other rights in and claims related to any of the foregoing under the
laws of any jurisdiction; except Innovations excluded in Schedule A.

      b. OWNERSHIP OF INNOVATIONS. I hereby agree and acknowledge that all
Innovations shall be deemed to be "works made for hire" belonging to Company. To
the extent that any such Innovations, under applicable law, may not be
considered work made for hire by me for Company, or to the extent that such
Innovation is a patentable invention under Title 35 of the United States Code, I
agree to assign, and upon creation automatically assign, and transfer to the
Company, without further consideration, my entire right, title and interest
(throughout the United States and in all other countries or jurisdictions), free
and clear of all liens and encumbrances, in and to all Innovations, including
all intellectual property rights in such Innovations, as well as any extensions
and renewals thereof. Such assignment and transfer to the Company shall be
continuous during my employment as of the relevant time of development of each
such Innovation. The Company may, in its sole discretion, agree to provide
consideration for certain Innovations through a written agreement between the
Company and the undersigned which specifically provides for such consideration;
in all other cases, no consideration shall be paid. The Innovations shall be the
sole property of the Company, whether or not copyrightable or patentable or in a
commercial stage of development.

      c. MORAL RIGHTS. To the extent allowed by law, this assignment of
Innovations includes all rights of paternity, integrity, disclosure and
withdrawal and any other rights that may be known as or referred to as "moral
rights," "artist's rights," or the like (collectively "Moral Rights"). To the
extent I retain any such Moral Rights under applicable law, I hereby ratify and
consent to any action that may be taken with respect to such Moral Rights by or
authorized by the Company and agree not to assert any Moral Rights with respect
thereto. I will confirm any such ratifications, consents and agreements from
time to time as requested by the Company.

      d. LICENSE FOR OTHER INNOVATIONS. I agree not to incorporate into any
Company property any work or invention owned by me or in which I have an
interest without obtaining Company's prior written consent. If, after receiving
such consent, in the course of my

<PAGE>

employment with the Company, I incorporate into Company property a work or
invention owned by me or in which I have an interest, I hereby grant to the
Company a worldwide, nonexclusive, royalty-free, irrevocable, perpetual,
transferable and sublicenseable (through multiple tiers) license to make, use,
import, offer for sale, sell, copy, distribute, publicly display, perform
publicly and by means of a digital audio transmission such work or invention as
part of and in connection with the Company property.

      e. ASSIST WITH REGISTRATION AND PROTECTION. In the event any Innovation
shall be deemed by the Company to be copyrightable, patentable or otherwise
registrable, I will assist the Company (at its expense) in every way deemed
necessary or desirable by Company to protect the Innovations throughout the
world, including without limitation, performing acts necessary for obtaining,
maintaining and enforcing patent or other applicable registrations and vesting
the Company, or any of its affiliates, with full title. Should the Company be
unable to secure my signature on any document necessary to apply for, prosecute,
obtain, or enforce any patent, copyright, or other right or protection relating
to any Innovation, due to my incapacity or any other cause, I hereby irrevocably
designate and appoint the Company and each of its duly authorized officers and
agents as my agent and attorney-in-fact to do all lawfully permitted acts to
further the prosecution, issuance, and enforcement of patents, copyrights, or
other rights or protection with the same force and effect as if executed and
delivered by me.

      f. DISCLOSURE. I agree to maintain current and adequate written records on
the development of all Innovations, and to disclose promptly to the Company all
such Innovations and records. I further agree to disclose promptly to the
Company any idea that I do not believe to be an Innovation, but which is
conceived, developed, or reduced to practice by me (alone or with others) while
I am employed by the Company, I will disclose the idea, along with all
information and records pertaining to the idea, and the Company will examine the
disclosure in confidence to determine if in fact it is an Innovation subject to
this Agreement.

3.    FORMER OR CONFLICTING AGREEMENTS

      a. FORMER AGREEMENTS. I represent and warrant that my performance of the
terms of this Agreement will not breach any agreement to keep in confidence
proprietary information acquired by me prior to my employment by the Company. I
have listed in Schedule A all other agreements concerning proprietary
information or inventions to which I am a party and attached copies of any
agreements in my possession. To the best of my knowledge, there is no other
contract between me and any other person or entity that is in conflict with this
Agreement or concerns proprietary information, inventions or assignment of
ideas.

<PAGE>

      b. PROHIBITION ON USE OF THIRD PARTY INFORMATION. I represent and warrant
and covenant that I will not disclose to the Company, or use, or induce the
Company to use, any proprietary information or trade secrets of others at any
time, including but not limited to any proprietary information or trade secrets
of any former employer, if any. I acknowledge and agree that any violation of
this provision shall be grounds for my immediate termination and could subject
me to substantial civil liabilities and criminal penalties. I further
specifically and expressly acknowledge that no officer or other employee or
representative of the Company has requested or instructed me to disclose or use
any such third party proprietary information or trade secrets.

4.    TERMINATION

      a. RETURN OF THE COMPANY'S PROPERTY. I agree to promptly return to the
Company upon termination of my employment all Proprietary Information, including
all tangible embodiments of such Proprietary Information in my possession, and
all personal property furnished to or prepared by me in the course of or
incident to my employment. Following my termination, I will not retain any
written or other tangible material containing any Proprietary Information or
information pertaining to any Innovation.

      b. TERMINATION CERTIFICATE. In the event of the termination of my
employment, I agree, if requested by the Company, to sign and deliver the
Termination Certificate attached as Schedule B.

      c. SUBSEQUENT EMPLOYERS. I agree that after the termination of my
employment with the Company, I will not enter into any agreement that conflicts
with my obligations under this Agreement and will inform any subsequent
employers of my obligations under this Agreement.

5.    NO IMPLIED EMPLOYMENT RIGHTS

            I recognize that nothing in this Agreement shall be construed to
imply that my employment is guaranteed for any period of time. Unless stated in
a written agreement signed by a duly authorized officer of the Company, my
employment is for an indefinite duration and at-will, and either the Company or
I can terminate our employment relationship at any time, without notice and for
any reason or no reason, with or without cause.

<PAGE>

6.    REMEDIES

            I recognize that nothing in this Agreement is intended to limit any
remedy of the Company under any federal or state law concerning trade secrets. I
recognize that my violation of this Agreement could cause the Company
irreparable harm and agree that the Company shall have the right to apply to any
court of competent jurisdiction for an order restraining any breach or
threatened breach of this Agreement.

7.    ASSIGNMENT

            I acknowledge and agree that my performance is personal hereunder,
and that I shall have no right to assign and shall not assign or purport to
assign any rights or obligations under this Agreement. This Agreement may be
assigned or transferred by the Company. Subject to the foregoing restrictions on
assignment, this Agreement shall inure to the benefit of the Company and its
affiliates, officers, directors, agents, successors and assigns; and shall be
binding on me and my heirs, devisees, spouses, agents, legal representatives and
successors.

8.    GOVERNING LAW AND ARBITRATION

            This Agreement shall be governed by and construed in accordance with
the laws of the State of New York without reference to conflicts of law
principles. Any dispute arising out of this Agreement that the Company and I
cannot settle amicably shall be resolved exclusively by arbitration before one
neutral arbitrator in the City of New York and administered by the American
Arbitration Association ("AAA") in accordance with its Employment Dispute
Arbitration Rules. The arbitrator shall be an attorney selected by mutual
agreement of the Company and me; however, if we cannot agree on the selection of
an arbitrator within fifteen (15) days following the delivery by either party to
the other of a demand for arbitration, the arbitrator shall be selected by or in
accordance with the Employment Dispute Arbitration Rules of the AAA.

9.    SEVERABILITY

            If any provision of this Agreement, or application thereof to any
person, place, or circumstance, shall be held by a court of competent
jurisdiction to be unenforceable, such provision shall be enforced to the
greatest extent permitted by law and the remainder of this Agreement shall
remain in full force and effect.

10.   AMENDMENT; WAIVERS

            This Agreement may not be amended or waived except by a writing
signed by me and by a duly authorized representative of the Company other than
me. Failure to exercise any right under this Agreement shall not constitute a
waiver of such right. Any waiver of any breach of this Agreement shall not
operate as a waiver of any subsequent breaches. All rights or

<PAGE>

remedies specified for a party herein shall be cumulative and in addition to all
other rights and remedies of the party hereunder or under applicable law.

11.   INTERPRETATION

            This Agreement shall be construed as a whole, according to its fair
meaning, and not in favor of or against any party. Sections and section headings
contained in this Agreement are for reference purposes only, and shall not
affect in any manner the meaning of interpretation of this Agreement. Whenever
the context requires, references to the singular shall include the plural and
the plural the singular and any gender shall include any other gender.

12.   ENTIRE AGREEMENT

            The terms of this Agreement are the final expression of my agreement
with respect to the subject matter hereof and may not be contradicted by
evidence of any prior or contemporaneous agreement. This Agreement shall
constitute the complete and exclusive statement of its terms. I acknowledge that
the Company has not made any other representations or warranties concerning the
subject matter of this Agreement. The termination of any employment or other
agreement between the Company and me shall not terminate this Agreement and each
and all of the terms and conditions hereof shall survive and remain in full
force and effect.

<PAGE>
            I HEREBY ACKNOWLEDGE THAT I HAVE READ THIS AGREEMENT CAREFULLY AND
UNDERSTAND THE LEGAL EFFECT OF ITS TERMS. I HAVE HAD THE OPPORTUNITY TO CONSULT
WITH INDEPENDENT LEGAL COUNSEL AND AM ENTERING INTO THIS AGREEMENT FREELY BASED
ON MY OWN JUDGMENT. I HAVE COMPLETELY NOTED ON SCHEDULE A TO THIS AGREEMENT ANY
PROPRIETARY INFORMATION, INVENTIONS, IDEAS, PROCESSES, INNOVATIONS, TECHNOLOGY,
WRITINGS, PROGRAMS, DESIGNS, FORMULAS, DISCOVERIES, PATENTS, COPYRIGHTS, OR
TRADEMARKS, OR IMPROVEMENTS, RIGHTS, OR CLAIMS RELATING TO THE FOREGOING, THAT I
DESIRE TO EXCLUDE FROM THIS AGREEMENT.

      Date: October 1, 2004

                                  Xin Ye
                                  Employee Name

                                  /s/ Xin Ye
                                  ------------------
                                  Employee Signature

<PAGE>
                                   SCHEDULE A

                              EMPLOYEE'S DISCLOSURE

1.    PROPRIETARY INFORMATION. Except as set forth below, I acknowledge that at
      this time I know nothing about the business or Proprietary Information of
      Linktone Ltd. (the "Company"), other than information I have learned from
      the Company in the course of being hired: _______________________________
      _________________________________________________________________________
      _________________________________________________________________________

2.    PRIOR INNOVATIONS. Except as set forth below, there are no ideas,
      concepts, inventions, discoveries, developments, know-how, structures,
      designs, formulas, algorithms, methods, products, processes, systems and
      technologies in any stage of development that are conceived, developed or
      reduced to practice by me alone or with others; any patents, patents
      pending, copyrights, moral rights, trademarks and any other intellectual
      property rights therein; or any improvements, modifications, derivative
      works from, other rights in and claims related to any of the foregoing
      under the laws of any jurisdiction, that I wish to exclude from the
      operation of this Agreement: ____________________________________________
      _________________________________________________________________________
      _________________________________________________________________________
      _________________________________________________________________________
      _________________________________________________________________________

3.    PRIOR AGREEMENTS. Except as set forth below, I am aware of no prior
      agreements between me and any other person or entity concerning
      proprietary information or inventions (attach copies of all agreements in
      your possession): _______________________________________________________
      _________________________________________________________________________
      _________________________________________________________________________
      _________________________________________________________________________
      _________________________________________________________________________

           Date: October 1, 2004

                                          Xin Ye
                                          Employee Name

                                          /s/ Xin Ye
                                          ------------------
                                          Employee Signature

<PAGE>

                                   SCHEDULE B

                       TERMINATION CERTIFICATE CONCERNING
                         COMPANY PROPRIETARY INFORMATION

            This is to certify that I have returned all property of Linktone
Ltd. (the "Company"), including, without limitation, all source code listings,
books, manuals, records, models, drawings, reports, notes, contracts, lists,
blueprints, and other documents and materials, Proprietary Information, and
equipment furnished to or prepared by me in the course of or incident to my
employment with the Company, and that I did not make or distribute any copies of
the foregoing.

            I further certify that I have reviewed the Company's Proprietary
Information Agreement ("Agreement") signed by me and that I have complied with
and will continue to comply with each and all of its terms and conditions,
including without limitation: (i) the reporting of any and all ideas, concepts,
inventions, discoveries, developments, know-how, structures, designs, formulas,
algorithms, methods, products, processes, systems and technologies; any and all
patents, patents pending, copyrights, moral rights, trademarks and any other
intellectual property rights therein; and any and all improvements,
modifications, derivative works from, other rights in and claims related to any
of the foregoing under the laws of any jurisdiction, conceived or developed by
me alone or with others and covered by the Agreement and (ii) the preservation
as confidential all Proprietary Information pertaining to the Company. This
certificate in no manner limits my responsibilities or the Company's rights
under the Agreement.

            On termination of my employment with the Company, I will be employed
by _____________________ [Name of New Employer] [in the ______________ division]
and I will be working in connection with the following projects:

            [generally describe the projects]

________________________________________________________________________________
________________________________________________________________________________

       Date:________

                                     Xin Ye
                                     Employee Name

                                     ___________________________
                                     Employee Signature

<PAGE>

                                                                       EXHIBIT E

                       CERTIFICATE REGARDING CONFIDENTIAL
                          AND TRADE SECRET INFORMATION

I understand that Linktone Ltd. (the "Company") has hired me because of my job
experience and qualifications, and not because it wants to obtain trade secrets
or other confidential or proprietary information from my previous employers.
Accordingly, I hereby certify that:

1. I have returned all property provided to me, or obtained by me, from my
previous employers including, without limitation: all books, manuals, records,
models, drawings, reports, notes, contracts, customer lists and other lists,
blueprints, equipment, and other documents and materials. In addition, I did not
make or distribute any copies of the foregoing, except as authorized by my
previous employers.

2. Listed on Schedule "A" are all non-disclosure, non-competition, and
non-solicitation agreements that I signed with previous employers. I have also
attached copies of all such agreements in my possession. To the best of my
knowledge, there are no other agreements between me and any other person or
entity concerning non-disclosure of proprietary information, non-competition, or
non-solicitation. I have reviewed the agreements listed on Schedule "A," and I
have complied with and will continue to comply with all of the lawful terms of
these agreements, including the preservation as confidential of all trade secret
and confidential information pertaining to my previous employers.

3. My performance of my job duties for the Company will not breach any agreement
to keep in confidence confidential, proprietary, and trade secret information
that I may have acquired during my previous employment.

4. During my employment with the Company, I will not disclose to the Company any
confidential, proprietary, or trade secret information of any of my previous
employers; I will not bring such information to the Company's attention; and I
will not use such information in my own employment by the Company.

         Date: October 1, 2004

                                     /s/ Xin Ye
                                     -------------------------
                                     Xin Ye

<PAGE>

                                  SCHEDULE "A"

            PRIOR AGREEMENTS. Below is a list of all non-disclosure,
non-competition, and non-solicitation agreements between me and any other entity
that I have signed or that may apply to me in any way:

1. ___________________________________________________________________________

2. ___________________________________________________________________________

3. ___________________________________________________________________________

4. ___________________________________________________________________________

5. ___________________________________________________________________________

6. ___________________________________________________________________________

7. ___________________________________________________________________________

8. ___________________________________________________________________________

9. ___________________________________________________________________________

10. __________________________________________________________________________

Please attach copies of all agreements in your possession, unless
confidentiality provisions prohibit you from attaching the agreements.

<PAGE>

                                                                       EXHIBIT F

                              ARBITRATION AGREEMENT

      Linktone Ltd. (the "Company") and Employee hereby agree that, to the
fullest extent permitted by law, any and all claims or controversies between
them (or between Employee and any present or former officer, director, agent, or
employee of the Company or any parent, subsidiary, or other entity affiliated
with the Company) relating in any manner to the employment or the termination of
employment of Employee shall be resolved by final and binding arbitration.
Except as specifically provided herein, any arbitration proceeding shall be
conducted in accordance with the National Rules for the Resolution of Employment
Disputes of the American Arbitration Association ("the AAA Rules").

      Claims subject to arbitration shall include, without limitation: contract
claims, tort claims, claims relating to compensation and stock options, as well
as claims based on any federal, state, or local law, statute, or regulation.

      A neutral and impartial arbitrator shall be chosen by mutual agreement of
the parties; however, if the parties are unable to agree upon an arbitrator
within a reasonable period of time, then a neutral and impartial arbitrator
shall be appointed in accordance with the arbitrator nomination and selection
procedure set forth in the AAA Rules. The arbitrator shall prepare a written
decision containing the essential findings and conclusions on which the award is
based so as to ensure meaningful judicial review of the decision. The arbitrator
shall apply the same substantive law, with the same statutes of limitations and
same remedies, that would apply if the claims were brought in a court of law.

      Either the Company or Employee may bring an action in court to compel
arbitration under this Agreement and to enforce an arbitration award. Otherwise,
neither party shall initiate or prosecute any lawsuit of claim in any way
related to any arbitrable claim. Nothing in this Agreement, however, precludes a
party from filing an administrative charge before an agency that has
jurisdiction over an arbitrable claim.

      All arbitration hearings under this Agreement shall be conducted in New
York, unless otherwise agreed by the parties. The arbitration provisions of this
Arbitration Agreement shall be governed by the Federal Arbitration Act. In all
other respects, this Arbitration Agreement shall be construed in accordance with
the laws of the State of New York, without reference to conflicts of law
principles.

<PAGE>

      Each party shall pay its own costs and attorney's fees, unless a party
prevails on a statutory claim, and the statute provides that the prevailing
party is entitled to payment of its attorneys' fees. In that case, the
arbitrator may award reasonable attorneys' fees and costs to the prevailing
party as provided by law.

      This Agreement does not alter Employee's at-will employment status.
Accordingly, Employee understands that the Company may terminate Employee's
employment, as well as discipline or demote Employee, at any time, with or
without prior notice, and with or without cause. The parties also understand
that Employee is free to leave the Company at any time and for any reason, with
or without cause and with or without advance notice.

      If any provision of this Agreement shall be held by a court or the
arbitrator to be invalid, unenforceable, or void, such provision shall be
enforced to the fullest extent permitted by law, and the remainder of this
Agreement shall remain in full force and effect. The parties' obligations under
this Agreement shall survive the termination of Employee's employment with the
Company and the expiration of this Agreement.

      The Company and Employee understand and agree that this Arbitration
Agreement contains a full and complete statement of any agreements and
understandings regarding resolution of disputes between the parties, and the
parties agree that this Arbitration Agreement supersedes all previous
agreements, whether written or oral, express or implied, relating to the
subjects covered in this agreement. The parties also agree that the terms of
this Arbitration Agreement cannot be revoked or modified except in a written
document signed by both Employee and an officer of the Company.

THE PARTIES ALSO UNDERSTAND AND AGREE THAT THIS AGREEMENT CONSTITUTES A WAIVER
OF THEIR RIGHT TO A TRIAL BY JURY OF ANY CLAIMS OR CONTROVERSIES COVERED BY THIS
AGREEMENT. THE PARTIES AGREE THAT NONE OF THOSE CLAIMS OR CONTROVERSIES SHALL BE
RESOLVED BY A JURY TRIAL.

THE PARTIES FURTHER ACKNOWLEDGE THAT THEY HAVE BEEN GIVEN THE OPPORTUNITY TO
DISCUSS THIS AGREEMENT WITH THEIR LEGAL COUNSEL AND HAVE AVAILED THEMSELVES OF
THAT OPPORTUNITY TO THE EXTENT THEY WISH TO DO SO.

Date: October 1, 2004

Signed: /s/ Xin Ye
        ---------------------------------------
        Xin Ye

Date: _________________________________________

Signed: _______________________________________
        By:
        Position:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}]]