Document:

Equity Transfer Agreement dated December 30, 2005

 Exhibit 4.14 
 Equity Transfer Agreement 
 This Equity Transfer Agreement (“this Agreement”) is entered into by the
following parties on December 30, 2005, in Beijing, People’s Republic of China. 
 Party A: Hurray! Holdings Co., Ltd. 
 Registered Address: 
 (hereinafter referred to as the “Transferee”)

 Party B: Magma Digital International Limited 
 Registered
Address: 
 (hereinafter referred to as the “Transferor”, and together with the Transferee, as the “Parties”) 
 WHEREAS 
 1. Shanghai Fuming Information Technology
Co., Ltd. (“Shanghai Fuming”) is a foreign-invested enterprise duly established and existing under the PRC laws and has US$ 460,000 of registered capital. 
 2. At the date hereof, the Transferor has invested US$ 460,000 and holds 100% equity interest in Shanghai Fuming. As of the date hereof, the Transferor legally owns all the shareholder’s rights based on its
investment. 
 3. The Transferee is a legal person duly established and existing under the laws of the Cayman Islands, and intends to accept
all the equity interest held by the Transferor in Shanghai Fuming. 
 NOW, THEREFORE, the Parties enter into the following agreement through
amicable negotiations in the spirit of mutual benefit and good faith, and pursuant to the relevant laws and regulations: 
 Article 1 Equity Transfer

 1. The Transferor hereby agrees to transfer, pursuant to the terms and conditions hereunder, all of its 100% equity interest in
Shanghai Fuming to the Transferee on the Effective Date of Transfer (defined below) described in Article 3, and the Transferee hereby agrees to accept such transfer pursuant to the terms and conditions hereunder (the “Equity Transfer”).

 2. From the Effective Date of Transfer under Article 3 hereof, the Transferee shall become the lawful owner of the transferred equity
interest pursuant to the terms and conditions hereunder, enjoy and bear all the rights and obligations in connection with the transferred equity interest (including all the rights, interests and obligations relating to its investment); the
Transferor shall cease to enjoy any rights, or bear any obligations, in connection with the transferred equity interest, except as otherwise provided hereunder. 
 3. The Parties agree to handle all the formalities for alteration of equity ownership pursuant to the terms and at the time as agreed hereunder, including without limitation obtaining the approval to the
transfer/acceptance of the equity interest pursuant to the laws of their respective jurisdiction of incorporation. 
  

 1 

 4. From the Effective Date of Transfer, the Transferor shall handover to the Transferee any and all
documents reasonably needed by the Transferee for the exercise of shareholder’s rights, including without limitation resolutions and minutes of the Board of Shanghai Fuming, all the corporate seals (including without limitation the official
seal, financial seal, and contract seal of the company), approval issued to the company, certificate of approval to foreign-invested enterprise, business license (original and duplicate), certificates, checkbook, documents relating to bank account
and any change thereto, property ownership document and approval. 
 Article 2 Equity Transfer Price and Method of Payment 
 1. The equity transfer price shall be determined in the following manner (hereinafter, the “Equity Transfer Price”): 
 Valuation: The value of Shanghai Fuming shall be determined in the following way: the actual benchmark profit of Shanghai Magma Digital Technology
Co. Ltd. (“Shanghai Magma”) in 2006 (which is the after-tax net profit in 2006 as audited by one of the “Big Four” accounting firm acceptable to the Transferee according to the US GAAP× A) + the actual benchmark profit of
Shanghai Magma in 2007 (which is the after-tax net profit in 2007 as audited by one of the “Big Four” accounting firm acceptable to the Transferee according to the US GAAP× B), in which, “A” and “B” shall be the
premium ratio. 
 “A” shall be determined in the following manner: 
 If Shanghai Magma suffers any deficit in 2006, A = 0; if the after-tax net profit in 2006 is less than or equal to US$ 800,000, A = 1.0; if the after-tax
net profit in 2006 is more than US$ 800,000 but less than or equal to US$ 2,000,000, A = 3.0; if the after-tax net profit in 2006 is more than US$ 2,000,000 but less than or equal to US$ 2,500,000, A = 3.5; if the after-tax net profit in 2006 is
more than US$ 2,500,000, A = 4.0. 
 “B” shall be determined in the following manner: 
 If Shanghai Magma suffers any deficit in 2007, B = 0; if the after-tax net profit in 2007 is less than or equal to US$ 1,200,000, B = 1.0; if the
after-tax net profit in 2007 is more than US$ 1,200,000 but less than or equal to US$ 3,500,000, B = 1.75; if the after-tax net profit in 2007 is more than US$ 3,500,000 but less than or equal to US$ 4,500,000, B = 2.0; if the after-tax net profit
in 2007 is more than US$ 4,500,000, B = 2.5. 
 Notwithstanding the foregoing, the minimum value of Shanghai Fuming shall be not less than
US$ 3,000,000, and the maximum value shall be not higher than US$ 22,000,000. 
  

 2 

 2. The Transferee shall pay to the Transfer the Equity Transfer Price in three installments in the
following manner: 
 Payment The Equity Transfer Price shall be paid in three installments: 
 (1) The initial payment of US$ 3,000,000 shall be paid to the Transferor within ten (10) business days after the Closing Date of Equity Transfer
(i.e., the closing date of the transfer of the equity interest in Shanghai Magma) mentioned in the Purchase Agreement (as defined in Article 5.8). 
 (2) The second payment shall be paid within ten (10) business days after the audit of Shanghai Magma in 2006 is completed. The amount of the payment shall be: the actual benchmark profit in 2006 - US$ 3,000,000. Should the result be
negative or zero, the second payment by the Transferee shall also be zero, provided that the Transferor shall not be obliged to refund any payment made by the Transferee; 
 (3) The third payment shall be paid within ten (10) business days after the audit of Shanghai Magma in 2007 is completed. The amount of such payment shall be determined in the following manner: 
 i) If the amount of the second payment is zero, the amount of the third payment shall be: the actual benchmark profit in 2007 - (US$ 3,000,000 - the
actual benchmark profit in 2006). Should the result be negative or zero, the third payment by the Transferee shall also be zero, provided that the Transferor shall not be obliged to refund any payment made by the Transferee; 
 ii) If the amount of the second payment is positive, then the amount of the third payment shall be the actual benchmark profit in 2007. 
 (4) Notwithstanding the foregoing, if Shanghai Magma suffers any deficit in 2007, the Transferor shall refund to the Transferee the amount equal to such
deficit, provided that the aggregate amount of the three installments shall not be less than US$ 3,000,000 or higher than US$ 22,000,000. 
 (5) For the purpose hereof, the “after-tax net profit” means the after-tax profit audited by one of the “Big Four” accounting firm acceptable to the Transferee according to the US GAAP, subject to the “Basic
Principles for Performance Determination” set forth in Exhibit I hereto. 
 Article 3 Execution Date and Effective Date of Equity Transfer

 1. This Agreement shall become effective after being executed by the Parties or their authorized representatives and affixed the seals
thereof, and the effective date of this Agreement shall be the date when the equity transfer hereunder has been approved, and the amended foreign-invested enterprise approval certificate has been issued, by the original approval authority of
Shanghai Fuming (hereinafter referred to as the “Execution Date”). 
 2. The equity transfer hereunder shall become effective at
the date when all of the following conditions have been satisfied (or waived by the relevant Party in writing), which date shall be the “Effective Date of Equity Transfer”. After the Effective Date of Equity Transfer, the Parties shall
separately negotiate to determine the specific financial benchmark date from which to conduct the former financial handover. 
 (1) This
Agreement has been duly executed by the Parties or the authorized representatives thereof; 
  

 3 

 (2) This Agreement and the equity transfer hereunder have been approved by the competent authority of the
Transferor/Transferee; 
 (3) This Agreement and the equity transfer have been approved by the Board of Shanghai Fuming; 
 (4) This Agreement and the equity transfer have been approved by the original approval authority of Shanghai Fuming; 
 (5) All the legal documents have been effectively obtained, and all the relevant formalities or procedures have been effectively performed, as necessary
for the equity transfer hereunder according to the relevant provisions of the laws relating thereto; 
 (6) Shanghai Fuming has undergone no
unfavorable changes in its business, operation, properties, prospects and assets; 
 (7) All the representations, warranties and covenants of
the Transferor under Article 4 hereof are true and accurate as of the Execution Date hereof and the Effective Date of Equity Transfer, as if such representations and warranties are made as of the Execution Date and the Effective Date of Equity
Transfer (except for such representations and warranties that are made at a specific date and are required to be true and accurate only at such date); and 
 (8) The equity transfer hereunder shall have undergone the amended industrial and commercial registration with the competent industrial and commercial registration authority, and the Transferee shall have become the
legal shareholder of Shanghai Fuming, the detailed terms and conditions are set forth in Article 4 hereof. 
 3. The equity transfer
hereunder shall be subject to the satisfaction (or waiver by the relevant Party in writing) of all of the following conditions (“Conditions Precedent”): 
 (1) The amended industrial and commercial registration mentioned Article 2(8) has been completed; 
 (2) The
Transferee’s affiliates have effectively accepted all the equity interest in Shanghai Magma and become the legal shareholder of Shanghai Magma pursuant to the relevant agreements; 
 (3) The Exclusive Technical Consultancy and Service Agreement, Software License Agreement, Trademark License Agreement, Business Cooperation Agreement
and other agreements entered into between Shanghai Magma and Shanghai Fuming in 2004, and all the agreements that the Transferor or its affiliates signed with Shanghai Fuming (if any) are terminated; 
  

 4 

 4. The Transferor and the Transferee shall as soon as possible after they have learned the satisfaction
of certain Condition Precedent above, and in no event later than three (3) business days thereafter, notify the other Party and provide written certificate evidencing the satisfaction thereof (such as copy of the approval or filing document
issued by the relevant authorities). 
 5. If either Party believes that all the Conditions Precedent above are satisfied, such Party shall
send written notice to the other Party. The other Party shall, within two (2) business days after receipt of the written notice, acknowledge in writing to the other Party that all the Conditions Precedent are satisfied, or disclose in writing
that certain Conditions Precedent are not yet satisfied and the reason thereof. The date when both Parties acknowledge that all the Conditions Precedent have been satisfied shall be the closing date of the equity transfer (hereinafter referred to as
the “Closing Date”), provided that neither Party shall unreasonably withhold such acknowledgement. 
 6. If the Conditions
Precedent above shall not be satisfied at the conclusion of the second month after the execution of this Agreement, this Agreement shall be terminated with immediate effect, unless the Parties hereto agree in writing to extend the date of
termination up to the conclusion of the fourth month after the execution hereof. After the termination of this Agreement, if the amended industrial and commercial registration is completed and the equity interest is transferred to the Transferee,
the Transferee shall promptly convey to the Transferor the equity interest actually received hereunder, so as to restore to the original status existing prior to the execution of this Agreement. If the amended industrial and commercial registration
for Shanghai Magma shall also be completed and the equity interest transferred to the Transferee’s affiliates, the Transferee’s affiliates shall promptly convey to the Transferor’s affiliates the equity interest actually received
hereunder, so as to restore to the original status existing prior to the execution of the Purchase Agreement. 
 7. The Transferor agree, the
equity transfer hereunder shall be deemed as incomplete if any of the Conditions Precedent set forth in subsection 3 of this Article 3 is not satisfied at the time agreed, and the Transferee shall not hold any liability thereto unless it is due to
any fault of the Transferee. If any of the Conditions Precedent is unable to be satisfied or cannot be satisfied at the time agreed due to any fault on the part of the Transferor, the Transferor shall indemnify the Transferee for the loss suffered
or costs incurred by the Transferee as a result thereof; if any of the Conditions Precedent is unable to be satisfied or cannot be satisfied at the time agreed due to any fault on the part of the Transferee, the Transferee shall indemnify the
Transferor for the loss suffered or costs incurred by the Transferor as a result thereof. 
 Article 4 Formalities for Amending Industrial and Commercial
Registration 
 1. The Transferor shall, within thirty (30) business days after the equity transfer hereunder has been approved by
the original approval authority of Shanghai Fuming and the amended foreign-invested enterprise approval certificate has been issued, complete the formalities for amended industrial and commercial registration at the relevant industrial and
commercial authority, and the Transferee shall assist the Transferor in completing such formalities. The amendment of industrial and commercial registration shall include the following: 
 (1) completion of registration amendment in connection with the equity transfer, the registered shareholder shall be changed from the Transferor to the
Transferee; 
  

 5 

 (2) completion of the change of directors, dissolving the original Board of Shanghai Fuming, appointing
Xu Xunguang as the managing director; 
 (3) completion of the amendment to registration of the legal representative, replacing Wang Jiang
with Xu Xunguang; 
 (4) Wang Jiang shall remain as the General Manager of the company; 
 (5) completion of registration of the amended articles of association. 
 2. The Transferor shall be responsible to handle with amendment to industrial and commercial registration. The Transferor shall promptly notify the Transferee upon receipt of the notice about completion of the
formalities issued by the industrial and commercial administration, and the Transferee shall get all the documents for the completed amended industrial and commercial registration within three (3) business days after receipt of the notice from
the Transferor. The amended industrial and commercial registration in this Article shall be finally completed after the Transferee has received all the documents. 
 Article 5 Representations, Warranties and Covenants of the Transferor 
 Except for what have been disclosed, 
 1. Shanghai Fuming is a wholly foreign owned limited liability company duly established and effectively existing under the PRC laws, the Transferor has
fully paid up the capital contribution according to the proportion of equity interest and lawfully obtained appropriate rights thereon, and the Transferor has performed all of its shareholder’s obligations in strict compliance with the Articles
of Association of Shanghai Fuming. The Transferor has all the necessary rights, powers and capacities to execute and perform all the duties and obligations hereunder, and this Agreement shall constitute its legal, valid and binding obligations after
execution hereof. 
 2. The Transferor has the legal and actual ownership to the equity interest to be transferred hereunder, has the
capacity for rights and actions in connection with the equity transfer, and has obtained all the necessary approvals other than the approval from the original approval authority of Shanghai Fuming regarding the equity transfer hereunder. 

3. The execution and performance of this Agreement by the Transferor do not contravene any law, articles of association, contract, agreement or other
legal documents binding on the Transferor. 
 4. There exists no pledge, preferential right or third party’s rights and interests in any
form, or any encumbrance. 
 5. The information contained in the balance and other financial statements of Shanghai Fuming delivered to the
Transferee by the Transferor are complete, true 
  

 6 

 and accurate. Except for the liabilities (including actual liabilities and contingent liabilities) that have been
disclosed to the Transferee by the Transferor, Shanghai Fuming has no other liabilities (the “Undisclosed Liabilities”). If there shall exist any Undisclosed Liabilities, the Transferor shall be responsible for all the repayment thereof.
The Transferor shall fully compensate for any loss suffered by the Transferee or Shanghai Fuming as a result of the Undisclosed Liabilities. 
 6. During the period commencing from the Execution Date hereof and ending at the Closing Date (including the Execution Date and the Closing Date), unless with the prior written approval of the Transferee, the Transferor shall guarantee:

 (1) Shanghai Fuming shall maintain normal business operations, any expenditure at or higher than RMB 10,000 shall be notified to the
Transferee by a ten-day prior notice and approved by the Transferee; 
 (2) Shanghai Fuming shall undergo no material changes in its assets
and financial conditions (including without limitation by ways of transfer, pledge of any form, or any third party’s rights and interests); 
 (3) Shanghai Fuming shall not distribute to the Transferor its investment proceeds; 
 (4) Shanghai Fuming shall not change the
structure of equity ownership and its articles of association; 
 (5) Shanghai Fuming shall undergo no material changes in the amount and
structure of its assets (including without limitation by ways of transfer, pledge of any form, or any third party’s rights and interests); 
 (6) The Transferor shall try its best efforts to ensure that Shanghai Fuming shall undergo no unfavorable changes in its operation; 
 (7) The Transferor shall not appoint, employ, dismiss, change or fire any directors, executive officers and other key employees without the prior approval of the Transferee; 
 (8) There shall not exist any violation of law in the taxes, accounts, employees, insurance and properties of Shanghai Fuming; Shanghai Fuming does not
have any actual or potential litigation. 
 7. The Transferor promises to train the succeeding management staff of Shanghai Magma for the
Transferee after the execution of this Agreement. The trainees may take courses together with the Transferor, and participate in the management decision making and daily operation management of Shanghai Magma after June 1, 2007. 
 8. In consideration that the Transferee’s affiliates will purchase Shanghai Magma, a domestic company controlled by the Transferor’s
affiliates, and has entered into the relevant purchase agreement (hereinafter referred to as the “Purchase Agreement”), both Parties acknowledge that the representations, warranties and 
  

 7 

 covenants of their respective affiliates under the Shanghai Magma Purchase Agreement shall be incorporated into this
Agreement by way of reference and deemed as the representations, warranties and covenants of the Parties hereunder. Any breach by the affiliates of any Party hereto under the Purchase Agreement shall be deemed as a breach of such Party under this
Agreement, in which event such Party agrees that the other Party shall have the right to hold the breaching Party liable for any and all consequences thereof. 
 9. There does not exist any material falseness or any omission in any representations or warranties of the Parties hereunder. A Party (“Indemnifying Party”) shall indemnify, defend and hold harmless the
other Party (“Indemnified Party”) against any and all the liabilities, obligations, loss, damages, penalty, punishment, compensation, claim, law suit, fees, expenses and costs (including without limitation attorney fee and other legal
costs) of whatever type, nature and category (collectively, the “Losses”) suffered or incurred by the other Party as a result of any falseness, inaccuracy or incompleteness of any representations or warranties of the Indemnifying Party, or
arising from or in connection with any representations or warranties or claims. 
 Article 6 Representations, Warranties and Covenants of the Transferee

 Except for what have been disclosed, 
 1. The Transferee is a legal person duly established and effectively existing under the laws of the Cayman Islands. 
 2. The Transferee has the full rights to carry out the activities in connection with the equity transfer hereunder, and has obtained all the approval and/or authorization necessary for the execution and performance of this Agreement.

 3. The execution and performance of this Agreement by the Transferee do not contravene any law, articles of association, contract,
agreement or other legal documents binding on the Transferee. 
 4. The Transferee shall perform its obligations of paying the Equity
Transfer Price to the Transferor in strict compliance with the provisions hereof. 
 5. The Transferee promises, from the date of industrial
and commercial registration in connection with the equity transfer hereunder until the Parties have received the audit report of Shanghai Magma in 2007 issued by one of the “Big Four” accounting firms acceptable to the Transferee in
accordance with the US GAAP: 
 a) The Transferee shall ensure that Shanghai Magma shall select one of the “Big Four” accounting
firm acceptable to the Transferee within thirty (30) days after the end of 2006 and 2007, and shall provide in the engagement agreement that the accounting firm shall complete the audit of Shanghai Magma in accordance with the US GAAP and
deliver the audit report to the Transferee within ninety (90) days after the end of the current year. 
 b) The Transferee undertakes
not to maliciously impede or interfere with the efforts of the management staff appointed by the Transferee in pursuing the 
  

 8 

 maximization of the operational result of Shanghai Magma in compliance with the provisions of laws, operator’s rules
and this Agreement, and within the scope of the current business of Shanghai Magma (except for the WAP operation); 
 c) If the Transferee
intends to dispose all or any part of the equity interest in Shanghai Magma through transfer, pledge, setting of third party’s rights or otherwise, it shall ensure that the new transferee shall agree to continue the performance of this
Agreement according to its terms; 
 d) The Transferee will endeavor to cause its affiliates not to engage in the Java Baibaoxiang service;

 e) The Transferee shall, and shall cause the directors appointed by it to, comply with the provisions in subsection 5 of this Article 6,
and the Transferee shall promptly rectify any noncompliance thereof. 
 Article 7 Confidentiality 
 Without the written approval of the other Party, neither Party shall disclose the relevant content of this Agreement to any third parties other than the
Parties hereto (not including the affiliates of the Parties and the professionals engaged by the Parties) prior to the Closing Date hereunder, except as explicitly required under the relevant PRC laws and regulations, relevant articles of
association, or other applicable laws and regulations. 
 Article 8 Expenses 
 1. Each Party agree to bear the respective expenses incurred in connection with the legal counsel, accountant, evaluator, financial adviser and other
professionals engaged by such Party. 
 2. The Transferor and Transferee shall each be responsible for their respective taxes incurred in the
equity transfer hereunder according to law. 
 3. All the other relevant fees and expenses, including without limitation fees for amended
industrial and commercial registration, shall be borne by Shanghai Fuming. 
 Article 9 Issues not Mentioned and Amendment 
 1. Both Parties agree to engage in further negotiations on issues not mentioned herein, and enter into supplemental agreement in writing, after the
execution of this Agreement. The supplemental agreement shall constitute an integral part of this Agreement. 
 2. Any amendment to this
Agreement shall be in writing and signed by the Parties hereto. The revisions and additions shall constitute an integral part hereof. 
 Article 10
Liabilities for Breach 
 1. A Party hereto shall constitute a breach of this Agreement if such Party: 
 (1) fails to perform any obligations hereunder; 
  

 9 

 (2) violates any representations, warranties and covenants hereunder; 
 (3) makes any false or misleading representations and warranties hereunder (either in good faith or bad faith). 
 2. If the events of breach set forth shall happen more than five (5) times in one month or the aggregate amount thereof is more than ten
(10) times, then each three (3) events of breach beyond the aforesaid amount shall be deemed as a material breach. In addition, the Transferor’s any breach of Section 3 of the Exhibit I to the Purchase Agreement “Special
Warranties as to Material Breach”, and the Transferee’s any breach of the representations, warranties and covenants under subsection 5 of Article 6 hereof, shall be deemed as material breach, and the Transferee shall be liable for such
breach according to the provisions hereof. 
 3. In the event of the breach above, the non-breaching Party shall have the right to require
the breaching Party to remedy such breach within thirty (30) days; with respect to material breach, the non-breaching Party shall have the right to remedy such breach within sixty (60) days. Should any loss incurred to the non-breaching
Party or Shanghai Magma/Shanghai Fuming as a result of the failure by the breaching Party to remedy the breach within the prescribed period, the non-breaching Party shall have the right to hold the breaching Party liable for such loss, and claim for
damages from the breaching Party. Each Party hereto may off-set the debt owed by the other Party against the debt owed to the other Party. 
 4. If the Transferor shall be in breach of its representations, warranties and covenants hereunder, or its affiliates shall be in breach of their representations, warranties and covenants under the Purchase Agreement, or Shanghai Magma
shall be in breach of its representations, warranties and covenants under the Purchase Agreement, at any time prior to January 1, 2008, or the Transferor’s affiliates shall be in breach of Section 3 of the Exhibit I to the Purchase
Agreement “Special Warranties as to Material Breach” at any time prior to December 31, 2009, and which breach constitutes a material breach under Article 10.2 hereof, then, after each occurrence of material breach, the Transferee
shall have the right to require the Transferor pay to the Transferee US$ 200,000 as the liquidated damages, in addition to the compensation/indemnity that should be made by the Transferor under other provisions of this Agreement. The liquidated
damages shall be paid within 7 business days after the Transferor’s receipt of notice from the Transferee specifying the breach and the amount and method of payment of the liquidated damages. 
 5. If the Transferee shall be in breach of its representations, warranties and covenants hereunder, or its affiliates shall be in breach of their
representations, warranties and covenants under the Purchase Agreement, at any time prior to January 1, 2008, and which breach constitutes a material breach under Article 10.2 hereof, then, after each occurrence of material breach, the
Transferor shall have the right to require the Transferee pay to the Transferor US$ 200,000 as the liquidated damages, in addition to the compensation/indemnity that should be made by the Transferee under other provisions of this Agreement. The
liquidated damages shall be paid within 7 business days after the Transferee’s receipt of notice from the Transferor specifying the breach and the amount and method of payment of the liquidated damages. 
  

 10 

 6. Each Party hereto covenants to the other Party, the breaching Party shall, at the request of the
non-breaching Party, make the following indemnities to the non-breaching Party, without prejudice to the right of any Party to claim for damages as a result of the other Party’s breach of its warranties, covenants or obligations hereunder:

 (1) certain amount of money that is sufficient for the Parties to restore to the original status (as if) the breaching Party was not in
breach; 
 (2) the expenses or costs incurred directly or indirectly by the non-breaching Party as a result of the breach by the breaching
Party (including without limitation the costs and expenses of litigation, arbitration and/or attorney fee reasonably paid by the non-breaching Party). 
 7. Notwithstanding any other provisions of this Agreement, if the Transferee shall fail to make payment of the Equity Transfer Price to the Transferor as required hereunder, the Transferee shall pay to the Transferor
liquidated damages for each day from such breach until the Equity Transfer Price has been paid in full amount, the amount of such liquidated damages shall be equal to the outstanding payment of the Transferee multiplied by a daily interest rate of
0.1%; if the breach shall continue for more than thirty (30) days, the daily interest rate shall be 0.5% thereafter. The Transferee’s sole and exclusive liabilities for overdue payment shall be limited to the liabilities set forth in this
Article. 
 Article 11 Dispute Resolution 
 1. Any dispute arising from or in connection with this Agreement shall be resolved by the Parties through amicable consultation. 
 2. If the Parties cannot resolve the dispute through amicable consultation within sixty (60) days after the occurrence thereof, such dispute shall be submitted for arbitration at the China International Economic and Trade Arbitration
Commission according to its then effective arbitration rules. The arbitration award shall be final and binding upon both Parties. The location of arbitration shall be in Beijing. 
 3. If any provision hereof shall be held as invalid under applicable laws, such invalidity shall not have any impact on the validity and enforceability
of the remaining provisions of this Agreement. 
 Article 12 Governing Laws 
 The formation, validity, interpretation, performance and dispute resolution of this Agreement shall be governed by the PRC laws. 
  

 11 

 Article 13 Contractual Rights 
 Neither Party shall assign its rights hereunder without the prior written consent of the other Party. This Agreement shall be binding and inure to the benefit of the successors and approved assignees of the Parties
hereto. 
 Article 14 Force Majeure 
 1.
For the purpose of this Agreement, “force majeure” event refers to any event beyond the reasonable control of the Parties that can not be predicted (or can be predicted but cannot be avoided) by the Parties hereto, which event has caused
failure of any Party hereto to perform any or all terms and conditions of this Agreement, including without limitation natural disasters such as earthquake, typhoon, flood, fire and other natural disasters, war, riot, strike or any other similar
incidents. The Parties hereto acknowledge and agree, the non-performance by either Party of this Agreement due to force majeure event shall not constitute a breach in subsection 1 of Article 10 hereof, and the Party affected shall not be liable for
any compensation or indemnity thereto. 
 2. The Party affected by the force majeure event shall immediately notify the other Party of the
occurrence of force majeure event via the most rapid means of communication available, and provide the other Party with documents specifying the details of the event and the reason for the non-performance, partial non-performance for delay of
performance of this Agreement, and the Parties shall negotiate whether to postpone the performance of this Agreement or terminate this Agreement. 
 Article 15 Special Agreement 
 Should any Party be materially prevented from its performance hereof due to the significant
change in the relevant industrial policies of the state government, both Parties shall hold separate negotiations to resolve such issue in the spirit of friendly cooperation. 
 Article 16 Entire Agreement 
 This Agreement constitutes the entire representations and agreement
between the Parties and supersede any oral or written representations, warranties, understandings and agreements concerning the subject matter hereof between the Parties prior to the execution hereof. The Parties acknowledge and agree, any
representations or warranties not explicitly included herein shall not constitute the basis of this Agreement, nor constitute the basis for the determination of the rights and obligations of the Parties and the construction of the terms and
conditions hereof. 
 Article 17 Notice 
 Any notice hereunder shall be in written form, in Chinese language, and delivered via registered mail, fax or other electronic means of communication. A notice shall be deemed to be duly given when it is delivered to the registered address
of the receiving party. If the notice is sent by registered mail, it shall be deemed to have been duly given on the date shown on the receipt thereof. If the notice is 
  

 12 

 transmitted by facsimile, it shall be deemed to have been duly given on the date of receipt of the transmission confirmed
by receipt of a transmittal confirmation. 
 Transferee: Hurray! Holdings Co., Ltd. 
 Address: 
 Zip Code: 
 Tel.: 
 Fax: 
 Attention: 
 Transferor: Magma Digital
International Limited 
 Address: 
 Zip Code: 
 Tel.: 
 Fax:

 Attention: 
 Article 18 Language

 This Agreement shall be written in Chinese language in four (4) originals, with each Party holding one (1) original thereof,
the remaining shall be filed for approval and the industrial and commercial registration, each of which shall have equal legal validity. 
 Article 19
Supplemental Agreement or Exhibits 
 The supplements or revisions to this Agreement agreed upon and duly executed by both Parties shall
be attached as the Exhibits hereto, constituting an integral part hereof. 
  

 13 

 Signature Page 
 IN
WITNESS WHEREOF, both Parties have duly executed this Agreement as of the date first written above. 
  
 Party A: Hurray! Holdings Co., Ltd. (Seal) 
 Legal Representative/Authorized Representative: 
  
 Party B: Magma Digital International Limited (Seal) 
 Legal Representative/Authorized Representative: 
  

 14 

 Wang Jiang, He Ming, Xie Peifu, Chen Yixiao, Xu Hongyan, Shao Cuilin, Xie Bing, Shen Nanpeng, as the shareholders of the
Transferor, hereby voluntarily provide a complete joint liability guarantee for the Transferor’s performance of the duties and obligations hereunder. In the event of any and all the breach hereunder on the part of the Transferor, the Transferee
may require in its sole discretion the Transferor and/or its shareholders listed above to perform the obligations to the extent of their respective proportion of equity interest currently held in the Transferor, provided that none of the
shareholders shall bear joint liabilities to the other shareholders. 
 Wang Jiang: 
  
 He Ming: 
  
 Xie Peifu: 
  
 Chen Yixiao: 
  
 Xu Hongyan: 
  
 Shao Cuilin: 
  
 Xie Bing: 
  
 Shen Nanpeng: 
  

 15 

 Exhibit I: Basic Principles for Performance Determination 
 1. The Transferee shall use its best efforts to cause its affiliates to transfer/integrate as far as possible their existing Java services (not including
the built-in mobile service and the fee collection service) to Shanghai Magma, and the performance of such services thereafter shall be included in the performance of Shanghai Magma; 
 2. The Transferee shall use its best efforts to cause its affiliates to grant Shanghai Magma the access to their existing Java business channels free of
charge, and the performance of such business channels shall be included in the performance of Shanghai Magma; provided that any and all the costs arising therefrom including without limitation any and all the costs, expenses, operator’s
penalties or other economic losses shall also be borne by Shanghai Magma; 
 3. The Transferor shall use its best efforts to cause Shanghai
Magma to grant the Transferee’s affiliates the access to its existing Java business channels free of charge, and the performance off such business channels shall not be included in the performance of Shanghai Magma, provided that any and all
the costs arising therefrom, including without limitation any and all the costs, expenses, operator’s penalties or other economic losses shall also be borne by the Transferee’s affiliates; 
 4. If Shanghai Magma shall distribute or decide to distribute any profit, pay or decide to pay and dividend, or the Transferee shall dispose either
directly or indirectly the profit of Shanghai Magma, the aforesaid disposal shall not have any impact on the determination of Shanghai Magma’s performance, the budget of Shanghai Magma for the subsequent years shall be based on the conditions
existing prior to such disposal. The disposal above shall not have any negative impact on the determination of the performance or budget of Shanghai Magma. 
  

 16Equity Transfer and Capital Increase Agreement dated December 12, 2005

 Exhibit 4.15 
 Equity Transfer and Capital Increase Agreement 
 This Equity Transfer and Capital Increase Agreement (“this
Agreement”) is entered into among the following parties on December 12, 2005, in Beijing, People’s Republic of People’s Republic of China (“China”). 
 Party A: 
 Party A1: Beijing
Huayi Brothers Advertising Co., Ltd (“Huayi Brothers Advertising”) 
 Registered Address: Room 909, Building A, Full Link Plaza
No.18 Chaoyangmenwai Ave, Beijing, China 
 Legal Representative: Wang Zhongjun 
 Party A2: Beijing Qixin Weiye Culture Development Co., Ltd. (“Qixin Weiye”) 
 Registered Address: Room 16A, No.6 Building, No.5 District, Yuanda Yuan, Haidian District, Beijing, China 
 Legal Representative: Yuan Tao 
 Party B: 
 Hurray! Digital Music Technology Co., Ltd (“Hurray! Music”) 
 Registered Address: Room [], 3rd Floor, No. 12 Fuxing Road, Haidian District, Beijing 
 Legal Representative: Xiang SongZuo 
 Hereinafter, Party A1 and Party A2 are referred to collectively as “Party A”. 
 WHEREAS: 
  

	1.	Beijing Huayi Brothers Advertising Co., Ltd (“Company” or “Huayi Brothers Music”) is a limited liability company with register capital of RMB5,000,000.00, which
was established by Party A1 and Party A2 in China according to PRC law, Party A1 and Party A2 made capital contributions are RMB3,500,000.00 and RMB1,500,000.00 respectively, and held 70% and 30% equity interest of Huayi Brothers Music respectively.
The main business of Huayi Brothers Music is music production, music distribution, copyrights management and artist development (“Current Business”). 

  

	2.	Party B is a limited liability company to be established in China according to PRC law. Party B expects to cooperate with Party A in the field of music production and music
distribution through holding the equity interest of Huayi Brothers Music. 

  

 1 

	3.	Party B agrees to purchase the equity interest and make additional investment to the registered capital of Company in accordance with the provisions of this Agreement.

 NOW, THEREFORE, the Parties have entered into the following agreement concerning the issues above mentioned: 
 ARTICLE1: Equity Transfer and Capital Increase 
  

	1.1	Party A1 agrees to transfer a 28.2143% equity interest of the Company to Party B, Party A2 agrees to transfer a 13.2857% equity interest of the Company to Party B, Party B agrees to
purchase the equity interest held by Party A1 and Party A2 (“Transfer interest” shall refer to the total equity interest of 41.5% and all rights, interest, and obligations relating to the aforesaid 41.5% equity interest).

  

	1.2	Party A1 agrees that Party A2 transfer the 13.2857% equity interest of Company to Party B, and agree to waive the pre-emptive right to the equity interest to be transferred by Party
A1. Party A2 agrees that Party A1 transfer the 28.2143% equity interest of Company to Party B, and agree to waive the pre-emptive right to the equity interest to be transferred by Party A2. 

  

	1.3	All the Parties agree, at the date of equity transfer mentioned in Article 1.1, Party B agrees to make capital increases and additional investments (collectively, the “Capital
Increase”) in an aggregate amount of US$ 1,357,000, in which RMB 969,388.00 shall be invested to increase the registered capital of the Company, and the remaining portion of the Capital Increase shall be allocated to the capital reserve of the
Company. The capital increase fund and additional investment fund (“Capital Increase Fund”) mentioned in this Article shall be paid in cash. After completion of the aforesaid Capital Increase, Party A shall hold 49% equity interest in
Company, and Party B shall hold 51% equity interest in Company. 

  

	1.4	Party A agrees and promises to waive the rights of purchasing the capital increase. 

 ARTICLE 2: Industrial and Commercial Registration Procedure 
  

	2.1	The Equity Transfer and Capital Increase hereunder shall be registered in the bureau of industry and commerce according to the PRC law. 

  

	2.2	All the parties agree, the business of the Company is that approved by the bureau of industry and commerce, and all the parties shall not alter the current business of the Company
materially. 

  

	2.3	After completion of the industry and commercial registration procedure concerning the Equity Transfer and Capital Increase hereunder, Party A and Party B as the shareholders of the
Company shall enjoy the rights and undertake the obligations according to the PRC law and Article of Association of the Company. The following is the proportion of equity interest held by shareholders respectively: 

  

							
	 	  	Capital Contributions	  	Equity
Interest	 
	 Party A1
	  	RMB	2,089,285.80	  	35	%
	 Party A2
	  	RMB	835,714.30	  	14	%
	 Party B
	  	RMB	3,044,387.90	  	51	%

  

 2 

 ARTICLE 3: Payment 
  

	3.1	All the parties agree and acknowledge, Party B shall pay the equity transfer price hereunder to Party A by the following manner: 

  

	  	All the parties agree, the Benchmark Profit of the Company (“Benchmark Profit”, shall refer to the average of the after-tax profit of the Company for 2006 and the
after-tax profit of the Company for 2007, as audited by one of the “Big Four” accounting firms acceptable to Party B in accordance with the US GAAP 2006) shall the estimated profit of US$1,166,700.00, and the value of the Company
shall be US$ 7,000,200.00 (“Initial Value”) derived by using a multiple of 6, i.e., $1,166,700.00×6=$ 7,000,200.00. For the convenience of calculation, the Parties agree to define the value of the company as US$ 7,000,000.00. The
Parties agree to determine the Equity Transfer Price according to the value of the company at US$ 7,000,000.00, thus the Equity Transfer Price shall be US$ 7,000,000×41.5%=US$ 2,905,000.00. 

  

	3.2	Payment of the Equity Transfer Price 

  

	 	(1)	Payment of the Equity Transfer Price 

  

	  	The Equity Transfer Price shall be US$ 2,905,000.00. Party B shall pay to Party A US$ 2,033,500.00, as the initial payment of the Equity Transfer Price, within five
(5) Business Days after the Execution of the Equity Transfer and Capital Increase Agreement. 

  

	  	Party B shall pay to Party A US$ 871,500.00, as the second payment of the Equity Transfer Price, within five (5) Business Days after the Industrial and Commercial Registration
Date (the “Industrial and Commercial Registration Date” shall refer to the date of issuance of a business license by the bureau of industry and commerce). 

  

	 	(2)	Adjustment to Equity Transfer Price 

  

	  	The Parties agree, any adjustment to the Equity Transfer Price shall be based on the amount of US$ 2,905,000.00 provided in Article 3.2 above. 

  

	  	If the actual amount of Benchmark Profit is more than US$ 1,254,202.50, Party B shall pay to Party A in a lump sum the supplemental amount within ten (10) Business Days after
the determination of the Benchmark Profit. The supplemental amount shall be: the actual amount of Benchmark Profit×6×41.5% - US$2,905,000.00. 

  

 3 

	  	If the actual amount of Benchmark Profit is less than US$ 1,254,202.50, Party B shall have the option to either to: (1) require Party A to refund to Party B the amount overpaid
by Party B within ten (10) Business Days after the determination of the Benchmark Profit. The overpaid amount shall be: US$2,905,000.00 - (actual amount of Benchmark Profit×6×41.5%). or (2) require to re-adjust the respective
proportion of equity interest held by Party A and Party B in the following manner: to calculate the equity interest held by Party B in the Company according to the Equity Transfer Price and the actual value of the Company (actual amount of Benchmark
Profit×6), and the equity interest held by Party A in the Company shall also be diluted at the same time; the diluted proportion of equity interest held by Party A in the Company shall be: 1- [US$ 2,905,000.00/(actual amount of Benchmark
Profit×6)]. But the proportion of equity interest held by Party A in the Company shall not be diluted to below 30%. At such time, any un-refunded portion of the Equity Transfer Price shall be refunded by Party A to Party B. If Party B requires
any re-adjustment to the proportion of equity interest in the aforesaid manner, Party A shall transfer without additional cost the diluted equity interest to Party B, enter into the Equity Transfer Agreement and relevant legal documents with Party
B, and assist Party B with the handling of formalities for the change of industrial and commercial registration. 

  

	  	The fee for auditing the Benchmark Profit will be paid by the Company, which shall not be included in the Benchmark Profit. 

  

	3.3	Capital Increase and Additional Investment 

  

	3.3.1	After completion of the equity transfer, Party B agrees to make capital increase and additional investment (collectively, the “Capital Increase”) in an aggregate amount of
US$ 1,357,000.00. After completion of the aforesaid Capital Increase, Party B shall hold a 51% equity interest in the Company, and Party A shall hold a 49% equity interest in the Company. The aforesaid Capital Increase in the amount of
US$1,357,000.00 is based on the value of the company at US$ 7,000,000. If the amount of Capital Increase is N, the formula of the calculation shall be: (N + US$ 2,905,000.00) /(N + US$ 7,000,000.00) = 51%. 

  

	3.3.2	Payment of the Capital Increase 

  

	  	The Capital Increase shall be US$1,357,000.00, Party B shall pay to the Company within five (5) Business Days after the Industrial and Commercial Registration Date, in which
RMB 969,388.00 shall be invested to increase the registered capital of the Company, and the remaining portion of the Capital Increase shall be allocated to the capital reserve of the Company. 

  

	3.3.3	Adjustment to the Amount of Capital Increase 

  

	  	If, the actual amount of Benchmark Profit realized by the Company is higher than US$ 1,254,202.50 (116.67X1.075), the US$ 1,357,000.00 Capital 

  

 4 

	  	Increase from Party B will not be sufficient for Party B to hold 51% equity interest in the Company, under which circumstance Party B shall have the options either: (1) to make
additional investment. For the purpose of calculating the amount of additional investment, it is necessary to calculate the aggregate amount of Capital Increase to be made by Party B in the following formula: [(actual amount of Benchmark Profit
× 6 × 41.5%) +W] / [actual amount of Benchmark Profit × 6 +W] = 51%, in which “W” represents the aggregate amount of Capital Increase to be invested by Party B. According to the formula above, W= actual amount of
Benchmark Profit × 6 ×0.1939, therefore, the amount of additional investment = actual amount of Benchmark Profit × 6 ×0.1939 - US$ 1,357,000.00; or (2) to re-adjust the respective proportion of equity interest held by
Party A and Party B in the following manner: to dilute the equity interest held by Party B in the Company according to the aggregate of the Capital Increase (i.e., US$ 1,357,000.00) and the actual value of the company (actual amount of Benchmark
Profit×6), the diluted proportion of equity interest held by Party B in the Company shall be: (actual amount of Benchmark Profit ×6×41.5% + US$ 1,357,000.00)/( US$ 1,357,000.00 + actual amount of Benchmark Profit×6). If Party
B selects to re-adjust the respective proportion of equity interest held by Party A and Party B, Party B shall transfer for free the diluted equity interest to Party A, enter into the Equity Transfer Agreement and relevant legal documents with Party
A, and assist Party A with the handling of formalities for the change of industrial and commercial registration. 

  

	  	If, the actual amount of Benchmark Profit realized by the Company is less than US$ 1,079,197.50 (116.67X0.925), the US$ 1,357,000.00 Capital Increase from Party B will allow Party B
to hold more than 51% equity interest in the Company, under which circumstance Party B shall have the options to: 

  

	  	(1) withdraw portion of its investment. Under this circumstance, there are two possibilities: Firstly, Party B selects the refund of Equity Transfer Price under Article 3.2(2) when
the Benchmark Profit of the Company is less than US$ 1,079,197.50(116.67X0.925). Accordingly, for the purpose of calculating the amount of refundable investment, it is necessary to calculate the aggregate amount of Capital Increase to be made by
Party B in the following formula: [(actual amount of Benchmark Profit × 6 × 41.5%) +W] / [actual amount of Benchmark Profit × 6 +W] = 51%, in which “W” represents the aggregate amount of Capital Increase to be invested by
Party B. According to the formula above, W= actual amount of Benchmark Profit × 6 ×0.1939, therefore, the amount of refundable investment = US$ 1,357,000.00 - (actual amount of Benchmark Profit × 6 ×0.1939). Secondly, Party B
selects to dilute the proportion of the equity interest held by Party A under Article 3.2(2) when the Benchmark Profit of the Company is less than US$ 1,079,197.509(116.67X0.925). At that time, if Party B doesn’t hold 51% equity interest of the
Company, Party B shall increase the capital in further. Accordingly, for the purpose of calculating the amount of refundable investment, it is necessary to calculate the aggregate amount of Capital Increase to be made by Party B in the following
formula: [US$ 2,905,000.00 + W]/[ actual amount of Benchmark Profit × 6 + W] = 51%, in which “W” 

  

 5 

	  	represents the aggregate amount of the Capital Increase to be invested by Party B. Therefore, the amount of refundable investment = US$ 1,357,000.00 – W. At that time, if Party
B holds the 51% equity interest of the Company, Party B has rights to select not to implement the Capital Increase of the amount of US$1,357,000.00. Accordingly, Party A are required to refund Capital Increase to be invested by Party B;

  

	  	(2) re-adjust the respective proportion of equity interest held by Party A and Party B in the following manner: to calculate the equity interest held by Party B in the Company
according to the aggregate amount of the Capital Increase (i.e., US$ 1,357,000.00) and the actual value of the company (actual amount of Benchmark Profit×6), and the equity interest held by Party A in the Company shall also be diluted at the
same time. Under this circumstance, there are two possibilities: Firstly, Party B selects the refund of Equity Transfer Price under Article 3.2(2) when the Benchmark Profit of the Company is less than US$ 1,079,197.50 (116.67X0.925). Accordingly,
the diluted proportion of equity interest held by Party A in the Company shall be: 1- [(actual amount of Benchmark Profit ×6×41.5% + US$ 1,357,000.00)/( US$ 1,357,000.00 + actual amount of Benchmark Profit×6)]. Secondly, Party B
selects to dilute the proportion of the equity interest held by Party A under Article 3.2(2) when the Benchmark Profit of the Company is less than US$ 1,079,197.50 (116.67X0.925). Accordingly, the diluted proportion of equity interest held by Party
A in the Company shall be: 1- [US$ 2,905,000.00 + US$ 1,357,000.00)/( US$ 1,357,000.00 + actual amount of Benchmark Profit×6)]. At that time, if Party B holds the 51% equity interest of the Company, Party B has rights to select not to
implement the Capital Increase of the amount of US$1,357,000.00. Accordingly, Party A are required to refund Capital Increase to be invested by Party B. If Party B requires to re-adjust the respective proportion of equity interest held by Party A
and Party B, Party A shall transfer for free the diluted equity interest to Party B, enter into the Equity Transfer Agreement and relevant legal documents with Party B, and assist Party B with the handling of formalities for the change of industrial
and commercial registration; 

  

	  	(3) combine the withdrawal of certain investment and dilution of Party A’s equity interest, so as to guarantee that Party B shall hold the above 51% equity interest in the
Company. 

  

	3.4	If the actual amount of the Benchmark Profit realized by the Company is less than US$ 1,079,197.50 (116.67X0.925), and Party B selects to dilute the proportion of equity interest
held by Party A in the Company, the proportion of Party A’s equity interest can be diluted to 30%. At such time, any un-refunded portion of the Equity Transfer Price shall be refunded by Party A to Party B , and any un-refunded portion of the
Capital Increase shall be refunded by the Company to Party B. 

  

	3.5	Party A2 and the four shareholders of Party A2 (YuanTao etc) shall be jointly and severally liable for the aforesaid obligations of refunding equity interest price under Article
3.3.3; and Party A1 and Mr. Wang Zhongjun and Mr. Wang Zhonglei shall take joint and several liabilities. If the actual amount of 

  

 6 

	  	Benchmark Profit is higher than US$ 1,254,202.50(116.67X1.075), and Party B selects to make additional investment, Hurray! Solutions Co., Ltd and Party B shall take joint and
several liabilities for the aforesaid obligations of making additional investment. 

  

	3.6	All parties agree that the equity interest price which Party B should pay to Party A is the complete and final price, and that it includes all tax fees. 

  

	3.7	Payment shall be paid by RMB. The exchange rate between US dollar and RMB shall be that announced by the People’s Bank of China at the date hereof. 

 ARTICLE 4: Management of the Company 
  

	4.1	After completion of the equity transfer, Party B shall be the new shareholder of the Company. 

  

	4.2	As the shareholders of the Company, Party A and Party B shall have the right to: 

  

	 	(1)	Attend the shareholder meeting and take a vote according to its the proportion of equity interest; 

  

	 	(2)	Be appointed as or appoint representatives to serve as directors or supervisors; 

  

	 	(3)	Review the minutes of shareholder meetings, minutes of board of directors, and the financial accounting report of the Company, and supervise the operation of the Company;

  

	 	(4)	Receive dividend distributions in proportion with respective equity interests; 

  

	 	(5)	Transfer the equity interest according to the law and the Article of Association of the Company; 

  

	 	(6)	A pre-emptive right to the equity interest held by other shareholders; 

  

	 	(7)	A pre-emptive right to the increase capital made by the Company; 

  

	 	(8)	Establish and amend the Article of Association of the Company with the other shareholders; 

  

	 	(9)	Distribute according to law the remaining assets of the company after liquidation; 

  

	 	(10)	Other rights regulated in the Article of Association of the Company. 

  

	4.3	Shareholder Meetings 

  

	  	The highest authority of the Company shall be its Shareholder Meeting. It shall decide on all major issues concerning the Company. 

  

 7 

	4.4	Board of Directors 

  

	  	The board of directors shall consist of five directors, three of which shall be appointed by Party B, and one of which shall be appointed by the Party A1, who shall be Mr. Wang
Zhongjun; and one of which shall be appointed by the Party A2. The chairman of board shall be appointed by Party B. The authority of appointing one director shall transfer to Party B from Party A if the percentage of total equity interest of Party A
in the Company falls 20% or below 20%. The Company will appoint Wang Zhongjun as the Honorary Chairman of the Board. 

  

	  	The following items shall be subject to a resolution of the Board of Directors adopted by unanimously vote: 

  

	 	(1)	The alteration of the name of the Company; 

  

	 	(2)	The decrease or increase of the registered capital of the Company; 

  

	 	(3)	Bankruptcy, dissolution and liquidation of the Company; 

  

	 	(4)	The sale or issuance of shares or bonds of the Company to Party B and/or affiliated companies of Party B; 

  

	 	(5)	The sale or issuance of shares of the Company in the price which is below this transaction price (value of the Company is US$7,000,000.00 ); 

  

	 	(6)	Affiliated transactions; 

  

	 	(7)	Any amendment of the Article of Association of the Company; and 

  

	 	(8)	The disposal of the share held by the shareholder of the Company by mortgage or other security means; 

  

	  	The following items shall be subject to a resolution of the Board of directors adopted by a simple majority vote: 

  

	 	(1)	The sale or issuance of shares of the Company (excluding the sale or issuance of shares to Party B or the affiliates of Party B; and the sale or issuance of shares in the price
which is below this transaction price (value of the Company is US$7,000,000.00 ); 

  

	 	(2)	The dividend distribution plan of the Company; 

  

	 	(3)	Acquisition, merger or other investment activities; 

  

	 	(4)	Lending or borrowing activities of the Company; 

  

	 	(5)	The Company’s material strategic cooperation and license to the other third party; 

  

 8 

	 	(6)	Approval or modification of semi-annual and annual financial budget and business plans; 

  

	 	(7)	Disposal of the company’s assets by mortgage or other security means; 

  

	 	(8)	The sale, purchase, assignment, lease or other disposal of the Company’s assets at a value higher than RMB150,000.00. 

  

	 	(9)	The Appointment of the president, CEO, CFO, CTO, COO of the Company; 

  

	 	(10)	The approval of or amendment to the stock option plan for employees of the Company; 

  

	 	(11)	The approval of or amendment to the compensation system of the Company; 

  

	 	(12)	The execution of business contracts that are beyond the scope of business plan; 

  

	 	(13)	Alteration or termination of certain lines of business in the business plan; 

  

	 	(14)	Alteration of the financial plan and financial system of the Company, and appointing or replacing the auditor of the Company; and 

  

	 	(15)	Other issues subject to the approval of the Board. 

 4.5 Business
Management Team 
 The Company shall establish a business management team, which shall be responsible for daily business affairs. The management team shall
consist of one General Manager, one deputy General Manager and one Chief Financial Officer. The deputy General Manager and Chief Financial Officer will be nominated by Party B. The General Manager, Deputy General Managers and the Chief Financial
Officer shall be appointed by the Board of Directors with a term of office of three years. The first General Manager of the Company shall be Wang Zhonglei, and his term of office shall be not less than three (3) months, but in principle not
more than six (6) months. Both Parties shall endeavor to find an appropriate candidate for the office of General Manager within three (3) months. 
 4.6 Supervisor 
 Guo Xiaoqing shall be the supervisor of the Company. 
 4.7 The parties agree, daily payment at a value higher than RMB150,000.00 shall be approved by written by director designated by Party B. 
 4.8 The Parties agree, no artist contracts shall be executed without the prior written approval from a counsel or attorney designated by Party B. 
 4.9 The Parties agree, the Company shall not distribute dividends to its shareholders within two years after completion of the equity transfer. 
  

 9 

 4.10 Finance 
 The financial
system of the Company shall be in compliance with the relevant provisions of the generally accepted accounting principles of the PRC and the United States. Financial statements of the Company shall be reported to the Board of Director on a quarterly
basis. The Company shall appoint one of the “Big Four” accounting firms to conduct the financial audit for the company, which audit shall be conducted on quarterly and annual basis. 
 Details are set forth in Exhibit I hereto concerning the Article of Association of the Company. 
 ARTICLE 5: Exclusive Business Cooperation Agreement 
 As of the execution date hereof, Party A will cause and
ensure the Company and Party B to enter into an Exclusive Business Cooperation Agreement on the business of digital publication. The Exclusive Cooperation Agreements shall be attached as Exhibits VIII hereto. 
 ARTICLE 6: Non-competitions Undertakings 
 As of the execution
date hereof, Party A will cause and ensure the main shareholders of the Party A and Party A will enter into non-competitions agreements, a form of which is attached hereto as Exhibit X. 
 Party B warrants that: So far as Party B holds more than 50% equity interest in the Company, Party B will not invest in any enterprise that is competitive with the current business of the Company other than Beijing
Hurray! Freeland Digital Music Technology Co., Ltd., unless Party B has introduced the investment opportunity to the Company in the first instance, and the Company has explicitly waived such opportunity. For the purpose of this Article 6, if the
Company does not indicate its acceptance within thirty (30) days after knowing the investment opportunity, it will be deemed as a waiver of such opportunity. 
 ARTICLE 7: Representations and Warranties 
  

	7.1	For the purpose of this Agreement, Party A make the following irrevocable representations and warranties to Party B: 

  

	 	(1)	The execution, delivery and performance of this Agreement by Party A have been duly authorized by all necessary corporate action for proper authorization. 

 

	 	(2)	Party A enjoys full ownership to the equity interest in its possession, and such equity interest has been duly acquired in accordance with the procedures set forth in applicable
laws and regulations; and the equity interest in the possession of Party A is free of any mortgage, lien or third party’s right. 

  

	 	(3)	Prior to the execution hereof, Party A warrant that all documents, materials and information provided by them to Party B or professional agencies designated by Party B are true,
correct and complete and do not contain any false or misleading information. 

  

 10 

	 	(4)	Party A shall assist and cause the Company to accomplish the Equity Transfer and Capital Increase hereunder. 

  

	 	(5)	The equity interest to be transferred by Party A to Party B does not contravene any law or contractual obligations binding on or affecting them, or violate the relevant Article of
Association, rules, restrictions or verdicts. 

  

	 	(6)	The company does not contravene any law or regulation affecting the Company from the date of establishment of it to date of execution hereof. 

  

	 	(7)	Party A shall cause and ensure that the Company uses the trademark of “Huayi Brothers” owned by affiliates of the Huayi Brothers Group, and cause and ensure a Trademark
License Agreement to be entered into. The Trademark License Agreement shall be attached as Exhibits IX hereto. However, the Company shall use the above trademark only in with respect to the current business of the Company. During such time, the use
of such trademark by the Company shall not constitute an infringement upon the rights of Party A or any third parties. Party A and/or the relevant right holders shall fully indemnify the Company for any loss suffered by the Company as a result of
any claim based on such infringement; 

  

	 	(8)	When the relevant right holders obtain the right to the registered trademark of “Jungle Music” or the application right thereof, Party A shall cause the relevant right
holders to transfer such right to the Company free of charge. Prior to such transfer, Party A and/or the relevant right holders shall not, and shall not permit any other parties to use such trademark, so as to avoid any trademark infringement. Party
A and/or the relevant right holders shall fully indemnify the Company for any loss suffered by the Company as a result of any claim based on such infringement; 

  

	 	(9)	Before the date of execution hereof, Yu&Quan and Huang Zheng have entered into artist agreements with the Company. If Yu & Quan, Huang Zheng executed the aforesaid
agreements with the Company in inviolation with any previous contracts, covenants, agreements, warranties and commitments that they have signed with any other parties, Party A shall fully indemnify the Company or Party B for any loss/damage as a
result of such violation; 

  

	 	(10)	Except for what have been disclosed (listed in Exhibit VI hereto), the Company has not entered into any other wireless value-added service contract/agreement with any other parties.
Upon completion of performance of the aforesaid wireless value-added service agreements, the Company shall not extend the term thereof without the prior written of Party B. The performance by the Company of the existing wireless value-added service
agreements will not have any impact on this 

  

 11 

	 	  	Agreement, and the performance of this Agreement and any other agreements relating to the Transaction hereunder will not have any impact on the wireless value-added service
agreements executed by the Company. If the Company’s performance of the aforesaid existing wireless value-added service contracts/agreements or this Agreement is in violation of any previous contracts, covenants, agreements, warranties and
commitments that the Company has entered into with any other parties, Party A shall fully indemnify the Company or Party B for any loss/damage as a result of such violation; 

  

	 	(11)	If the Company shall have been sanctioned by the competent authorities for any problems relating to taxation, social insurance or otherwise existing as of the date of amended
industrial and commercial registration, Party A1, Party A2 and the shareholders of Party A2 shall fully indemnify the Company for the loss/damage as a result thereof; 

  

	 	(12)	Since the establishment of the Company until the date hereof, the Company has not engaged in any infringement upon third parties’ rights; 

  

	 	(13)	There does not exist any litigation, arbitration or dispute in connection with the Company from the date of establishment of the Company to the date of execution hereof.

  

	 	(14)	Party A shall use best efforts to using the music resources of the Company on a preferred basis and on equal terms; 

  

	 	(15)	The Company shall hire at least three (3) employees who have obtained talent manager qualifications and has begun applying for qualification as a talent management company. In
addition, the Company is handling the relevant formalities for obtaining the qualification certificate of an talent management company, and will obtain such certificate no later than December 2005; 

  

	 	(16)	The company owns all certificates and licenses which are required for the current business of the Company (including not limited music production and distribution).

  

	 	(17)	Party A warrants that Beijing Huayi Brothers Agent Co., Ltd., in which Party A holds equity interest, will not engage in recording and music-related business during the existence of
the Company; 

  

	 	(18)	Except in special cases and with the prior written approval of Party B, Party A shall endeavor to cause any existing and newly signed contractual artists of Beijing Huayi Brothers
Agent Co., Ltd. to enter into recording contracts with the Company on a preferred basis and on equal terms; 

  

	 	(19)	Party A shall endeavor to cause its affiliates (both Parties acknowledge and agree, the “affiliates” herein shall not include TOM Group Limited and its affiliate companies
not related to Wang Zhongjun and Wang Zhonglei) to use the theme songs performed by the artists of the Company to the maximum extent possible in their movie and TV products; 

  

 12 

	 	(20)	Party A shall cause and ensure that, Hu Haiquan, Chen Yufan and Huangzheng will sign the Commitment Letter attached hereto as Exhibit V on the date of execution hereof.

  

	 	(21)	Party A1 shall cause and ensurethat Party A1, Mr. Wang Zhongjun and Mr. Wang Zhonglei will hold above 15% equity interest of the Company for two (2) years from the
date of execution hereof. 

  

	 	(22)	Party A shall cause and ensure, Mr. Wang Zhongjun and Mr. Wang Zhonglei will sign the Commitment Letter attached hereto as Exhibit II on the date of execution hereof.

  

	 	(23)	Party A shall cause and ensure that Yuantao, Hu Haiquan and Chen Yufan will sign the Commitment Letter about trademark of Jungle Music on the date of execution hereof. The
Commitment Letter shall be attached as Exhibit IV hereto. 

  

	 	(24)	Party A2 shall cause and ensure that Yuantao, Hu Haiquan, Chen Yufan and Su Wenjie shall sign the Commitment Letter about joint and several liabilities on the date of execution
hereof. The Commitment Letter shall be attached as Exhibit III hereto. 

  

	 	(25)	Party A shall endeavor to cause the wireless value-added service rights in connection with the movie and TV products with the investment from Party A or its affiliates and
activities sponsored by Party A or its affiliates be granted to Hurray! Digital Music Technology Co., Ltd. in priority upon equal conditions, provided that TOM Entertainment Group Limited shall waive its right of priority, if any, under the
Shareholders Agreement entered into between Wang Zhongjun and TOM Entertainment Group Limited, and that such wireless value-added service right shall be owned by Party A or its affiliates; 

  

	 	(26)	The Company enjoys full ownership to the copyrights attached hereto as Exhibit VII in its possession. 

  

	 	(27)	If the shareholders of Beijing Huayi Brothers Jingji Co., Ltd transfer the equity interest of the Beijing Huayi Brothers Jingji Co., Ltd, and Party A1 and the other shareholders of
Beijing Huayi Brothers Jingji Co., Ltd waive the pre-emptive right to the equity interest, the Company and/or Party B owns the pre-emptive right to the equity interest to be transferred by the shareholders of Beijing Huayi Brothers Jingji Co., Ltd.

  

	 	(28)	Party A shall indemnify Party B and/or the Company for their loss resulting from the any litigation arbitration or dispute in connection with the Company. 

 

	 	(29)	Party A shall not engage in any business and activities that are or will be compete with the existing business of the Company and Party B in accordance with the provisions of the
Non-competition Agreement listed in Exhibit X hereto. 

  

 13 

	7.2	For the purpose of this Agreement, Party B make the following irrevocable representations and warranties to Party A: 

  

	 	(1)	The execution, delivery and performance of this Agreement by Party A have been duly authorized by all necessary corporate action for proper authorization. 

 

	 	(2)	The execution and performance of this Agreement by Party B do not contravene any law or contractual obligations binding on or affecting them, or violate the relevant rules,
restrictions or verdicts. 

  

	 	(3)	Party B shall pay the Equity Interest Price to Party A, and make the Increase Capital to the Company according to this Agreement. 

  

	 	(4)	Party B shall execution and performance the Exclusive Business Cooperation Agreement on the business of digital publication. 

  

	 	(5)	Party B shall cause the Company and Beijing Hurray! Freeland Digital Music Technology Co., Ltd to hold the equity interest of each other according to the PRC law.

  

	 	(6)	Party B shall assist the Company to accomplish the Equity Transfer and Capital Increase hereunder. 

 ARTICLE 8: Liabilities for Breach and Force Majeure 
  

	8.1	Any party hereto in breach of its representations, warranties, covenants or other obligations hereunder shall assume liabilities in line with applicable law and this Agreement.

  

	8.2	For the purpose of this Agreement, “force majeure” refers to any event beyond the control of the Parties that can not be reasonably predicted (or can be predicted but
cannot be avoided) by the Parties hereto, which event has caused failure of any Party hereto to perform any or all terms and conditions of this Agreement, including without limitation natural disasters such as earthquake, landslide, subsidence,
flood, typhoon and fire, explosion, accident, war, riot, insurgence, mutiny, turmoil, destructive behaviors or any other similar or dissimilar incidents. If any Party fails to perform any or all of its obligations hereunder due to a force majeure
event, then it shall be relieved from performing such obligation during the period when the force majeure exists and the term of this Agreement shall be extended accordingly. 

  

	8.3	In such event the Party affected by the force majeure event shall not be liable for its failure to perform this Agreement during the period when the force majeure exists. The Party
affected by the force majeure event shall immediately notify the other Parties of the occurrence of force majeure event in writing, and provide the other Parties with appropriate evidence of such force majeure and its influence notarized by the
local notary. Moreover, such Party shall also take all necessary actions to prevent or alleviate the influence of such force majeure event. 

  

 14 

 ARTICLE 9: Dispute Resolution 
  

	9.1	Any disputes between or among the Parties shall be first solved by the Parties through amicable consultation. If consultation fails, then the dispute shall be submitted to China
International Economic and Trade Arbitration Commission for arbitration pursuant to its rules. The proceedings shall take place in Beijing. Arbitration award is final and binding upon Parties. 

 ARTICLE 10: Governing Law 
  

	10.1	The validity, interpretation and enforcement of this Agreement shall be governed by the laws, regulations and government rules of China currently in effect and amended from time to
time. 

 ARTICLE 11: Confidentiality 
  

	11.1	The Parties agree and acknowledge that any oral or written materials communicated between and among the Parties are confidential information (including without limitation the
material provisions hereof and the Transaction hereunder). The Parties shall keep all such confidential information in strict confidence, and shall not disclose such information to any third parties without the consent of the other parties, except
the following information: 

  

	 	1)	information known or to be known by the general public (other than through unauthorized disclose by a party bound by the confidential obligation as to such information);

  

	 	2)	disclosure required under the applicable laws or regulations (including without limitation listing rules); or 

  

	 	3)	disclosure by any Party hereto to its legal counsel or financial consultant in relation to the transaction mentioned in the material provisions hereof, provided that such legal
counsel or financial consultant shall also be bound by the confidential obligations herein. 

  

	 	  	Confidential obligations specified shall survive the termination of this Agreement for any reason. 

  

	11.2	Party A acknowledge and covenant that they shall not disclose any information as to the transaction hereunder in any way without Party B’s prior consent. Once Party B’s
consent is obtained, Party A shall disclose such information in accordance with guidelines laid down by Party B. 

 ARTICLE 12:
Miscellaneous 
  

	12.1	This Agreement includes the following attachments. All the Exhibits and Schedules hereto are integral parts of this Agreement. 

  

			
	Exhibit I:	 	Article of Association of the Company

  

 15 

			
	Exhibit II:	 	Commitment Letter issued by Wang Zhongjun and Wang Zhonglei
		
	Exhibit III:	 	Commitment Letter issued by Yuan Tao, Hu Haiquan, Chen Yufan and Su Wenjie
		
	Exhibit IV:	 	Commitment Letter issued by Yuan Tao, Hu Haiquan and Chen Yufan
		
	Exhibit V:	 	Commitment Letter issued by Hu Haiquan, Chen Yufan and Huangzheng
		
	Exhibit VI:	 	List of Wireless Value Added Service Contracts entered into by the Company upon the execution date hereof
		
	Exhibit VII:	 	List of Copyrights owned by the Company upon the execution date hereof
		
	Exhibit VIII:	 	Exclusive Business Cooperation Agreement
		
	Exhibit IX:	 	Trademark License Agreement
		
	Exhibit X:	 	Non-competition Agreement

  

	12.2	No revision, amendment or modification to this Agreement shall be effective unless made in writing and duly executed by the relevant Parties hereto. And such revision, amendment or
modification shall take effect in the same way as the Agreement. 

  

	12.3	This Agreement shall take effect when executed by duly authorized representatives of the Parties and affixed with the company chop (or the chop specially for contract) of the
Parties. This Agreement shall be signed in seven (7) originals, with each of Party A and Party B holding two originals, and the remaining originals shall be registered with the bureau of industry and commerce. Each copy hereof shall be deemed
original upon execution by all the Parties hereto. 

  

 16 

 (Signature page) 
 In witness whereof, this Agreement is signed by following Parties on the date first written above: 
 Party A1: Beijing Huayi Brothers Advertising Co., Ltd 
 Authorized Representative: 
 Party A2: Beijing Qixin Weiye Culture Development Co., Ltd. 
 Authorized Representative: 
 Party B: Hurray! Digital Music Technology Co., Ltd 
 Authorized Representative: 
  

 17

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}]]