Termination Agreement
EX-99.1
This
termination agreement is agreed by the following three parties and signed on
November 19, 2010:
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a)
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China
Youth Interactive Media (Beijing) Co.,
Ltd. (hereinafter referred to as "CY Interactive
")
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b)
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Youth Media
Technology (Hong Kong) Limited (hereinafter referred to as
"Youth Media Hong Kong ")
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c)
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Youth
Net Advertising (Beijing) Co., Ltd. (hereinafter referred to as "Youth Net
Advertising")
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Whereas:
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a)
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CY Interactive, Youth
Media Hong Kong and Youth Net Advertising have (i)
signed a Cooperation Agreement on July 3, 2009,
and (ii) based on the execution or implementation
of the above agreement and from time to time all oral
or written supplementary agreements and updates (if any)
(the foregoing (i) and (ii) collectively, the "Series Agreement
");
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b)
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CY Interactive, Youth
Media Hong Kong and Youth Net Advertising intend to
terminate the Series Agreement.
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Therefore,
all of the parties have reached the following
consensus:
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1.
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The
Series Agreement will be terminated on the signing date of this
Agreement.
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2.
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As
to the Series Agreement, any party to this Termination Agreement is not
responsible for any obligations, debt or liabilities to any other
parties and is not liable or entitled to any
claim.
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China
Youth Interactive Media (Beijing) Co., Ltd.
Youth Net
Advertising (Beijing) Co., Ltd.
Youth Media
Technology (Hong Kong) Limited
