Supplementary Agreement
Exhibit
10.16
[Reference
Translation]
This
Supplementary Agreement (Agreement) is made and entered
into as of [·] 2008 in
the People’s Republic of China (PRC).
by and
among:
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(1)
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Kunming
Television Station
(Party A), a PRC television station with its registered address at
Xx. 000, Xxxxxx Xxxx,
Xxxxxxx Xxxx, Xxxxxx Xxxxxxxx;
and
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(2)
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Advertising Networks
Limited (广告网络有限公司)(Party B), a company
established under the laws of Hong Kong (as defined below) with its
contact address at 12/F, Xxxxxxxxx Xxxxx, 00 Xxxxxxx XX, Xxxxxxx, Xxxx
Xxxx.
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(Party A
and Party B are each hereinafter individually referred to as a Party and collectively
referred to as the Parties).
Whereas the Parties entered
into a Framework Agreement (Framework Agreement) on 23
February 2008, with regard to those matters that have not been stipulated in the
Framework Agreement, the Parties hereby agree as follows:
Article 1
According
to Article 10.2.1 of the Framework Agreement, the Closing should take place
within 90 days after the signing of the Framework Agreement (prior to 23 May
2008). However, based on the mutual agreement of the Parties, the Parties agree
that the Closing Date shall extend to 23 June 2008, and if necessary, may be
further extended upon mutual agreement. The parties shall bear no liabilities
under the Framework Agreement arising out of or from the postponement of the
Closing Date under this Supplementary Agreement.
Article
2
This
Supplementary Agreement has the same effectiveness as the Framework Agreement.
Unless otherwise provided herein, the terms here shall have the same meaning as
those set forth in the Framework Agreement. Where there is a conflict between
the Framework Agreement and this Supplementary Agreement, this Supplementary
Agreement shall prevail.
Article
3
This
Agreement shall be governed by and interpreted in accordance with PRC
law.
Article
4
All
disputes arising from or in connection with this Supplementary Agreement shall
be resolved by friendly consultation between the Parties. If any dispute cannot
be resolved in the above manner within 30 days after the commencement of
consultations, either Party may submit the dispute to China International
Economic Trade Arbitration Commission for arbitration. The award shall be final
and binding on both Parties.
[Reference
Translation]
Article
5
This
Supplementary Agreement has been drafted in the Chinese language and shall be
executed in 2 sets of originals, with each Party retaining 1 set.
[The
space below has been intentionally left blank.]
[Reference
Translation]
IN WITNESS THEREOF, both
Parties have authorized their respective representatives to execute this
Supplementary Agreement on the date written above.
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Party
A:
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Party
B:
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Kunming
Television Station
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Advertising
Networks Limited
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Signed
By:
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Signed
By:
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Name:
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Name:
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Title:
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Title:
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Supplementary
Agreement
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