Termination Agreement
EX-99.2
This
termination agreement is agreed by the following four 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 Media
Technology (Beijing) Co., Ltd. (hereinafter referred to as "
Youth Media Beijing ")
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d)
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Xinhua
Sports & Entertainment Limited (formerly: Xinhua Finance
Media Limited) (hereinafter referred to as
the " Xinhua Finance
Media")
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Whereas:
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a)
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CY Interactive, Youth
Media Hong Kong, Youth Media Beijing and Xinhua
Finance Media have (i) signed a Joint Venture
Agreement on December 26, 2008, 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, Youth
Media Beijing and Xinhua Finance Media 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 Media
Technology (Beijing) Co., Ltd.
Youth Media
Technology (Hong Kong) Limited
Xinhua
Finance Media Limited
