Document:

exv4w33

 

    Exhibit 4.33

 

    EXCLUSIVE
    TECHNOLOGY CONSULTING AND SERVICES AGREEMENT

 

    This Exclusive Technology Consulting Services Agreement (this
    “Agreement”) is entered into in Beijing, PRC on
    February 28, 2008 between the following two parties:

 

	 	 	 
	

    Party A:

	
 
	
    Baidu Online Network Technology (Beijing) Co., Ltd.

	

    Legal Address:

	
 
	
    12/F., Ideal International Plaza, No. 58 North-West 4th Ring,
    Haidian District, Beijing,

    PRC, 100080

	

    Party B:

	
 
	
    Beijing BaiduPay Science and Technology Co., Ltd., (the
    “Company”)

	

    Legal Address:

	
 
	
    Room 301, 3/F, Block D, Jia No. 18 Zhongguancun South Street,
    Haidian District,

    Beijing, PRC, 100081

 

    WHEREAS:

 

    1. Party A is a wholly foreign-owned enterprise duly
    incorporated under the laws of the People’s Republic of
    China (the “PRC”), which has the technology expertise
    and practical experience in the development and design of
    computer software, and also has rich experience and a team of
    professionals specializing in information technology and
    services;

 

    2. Party B is a limited liability company duly incorporated
    in Beijing, PRC, which carries out the business of individually
    operating third party payment platform (provide online payment
    for
    e-commerce);

 

    3. Since February 2008, Party A has been providing
    exclusive technology consulting and related services to Party B
    and Party B has agreed to accept such services. Both parties
    wish to continue this cooperation and sign a written agreement
    to stipulate their respective rights and obligations.

 

    NOW THEREFORE, both parties, through negotiations, agree
    as follows:

 

    1. Exclusive Technology Consulting and Services; Sole and
    Exclusive Interests

 

    1.1 During the term of this Agreement, Party A agrees, as
    the exclusive technology consulting and services provider of
    Party B, to provide the exclusive technology consulting and
    services to Party B in accordance with the terms and conditions
    of this Agreement (the content of such services is specified in
    Appendix 1 hereto).

 

    1.2 Party B agrees to accept the exclusive technology
    consulting and services provided by Party A and further agrees
    that, during the term of this Agreement, Party B shall not
    accept such technology consulting and services for the aforesaid
    business from another party without the prior written consent of
    Party A.

 

    2. Calculation, Payment and Guarantee of the Fees for the
    Technology Consulting and Services (the “Fee”)

 

    2.1 Both parties agree to calculate and pay the Fee
    quarterly. At the end of each quarter, Party A shall inform
    Party B the consulting fee for previous quarter and provide a
    breakdown of such fee. .

 

    2.2 Party B’s shareholders shall pledge the equity
    interests of Party B to Party A for securing the Fee payable by
    Party B pursuant to this Agreement.

 

    3. Intellectual Property Rights

 

    3.1 Party A shall be the sole owner of the copyrights of
    the software designed by Party A and other relevant software,
    any intellectual property obtained through the research and
    development by Party A and any derivative rights arising from
    the performance of this Agreement
    and/or any
    other agreement reached by both parties, including, but not
    limited to, patent application rights, copyrights or other
    intellectual property rights of the software, technical
    documents and materials and the rights to license or transfer
    such intellectual property, etc.

 

    3.2 During the performance of this Agreement, if Party B
    needs to use Party A’s software programs or systems, both
    parties shall sign a separate agreement setting forth the scope,
    method and fee of such license.

 

    4. Representations and Warranties

 

    4.1 Party A hereby represents and warrants as follows:

 

    4.1.1 Party A is a wholly foreign-owned enterprise duly
    incorporated and validly existing under PRC law;

 

    4.1.2 The execution and performance of this Agreement by
    Party A are within its corporate power and business scope. Party
    A has taken necessary corporate actions and obtained appropriate
    authorizations, and has obtained the necessary consents or
    approvals from other third parties or government agencies. The
    execution and performance of this Agreement by Party A do not
    violate the laws and contracts binding upon or influencing Party
    A; and

 

    4.1.3 Upon execution, this Agreement will constitute a
    legal, valid and binding obligation of Party A enforceable
    against Party A in accordance with its terms.

 

    4.2 Party B hereby represents and warrants as follows:

 

    4.2.1 Party B is a limited liability company duly
    incorporated and validly existing under the laws of the PRC,
    which carries out the business of individually operating third
    party payment platform (provide online payment for
    e-commerce);

 

    4.2.2 The execution and performance of this Agreement by
    Party B are within its corporate power and business scope. Party
    B has taken necessary corporate actions and obtained appropriate
    authorizations, and has obtained the necessary consents or
    approvals from other third parties or government agencies. The
    execution and performance of this Agreement by Party B do not
    violate the laws and contracts binding upon or influencing Party
    B; and

 

    4.2.3 Upon execution, this Agreement will constitute a
    legal, valid and binding obligation of Party B enforceable
    against Party B in accordance with its terms.

 

    5. Confidentiality

 

    5.1 Party B agrees to take all reasonable steps to protect
    and maintain the confidentiality of the confidential data and
    information acknowledged or received by Party B through
    accepting the exclusive consulting and services from Party A
    (collectively, the “Confidential Information”). Party
    B shall not disclose, give or transfer any Confidential
    Information to any third party without Party A’s prior
    written consent. Upon termination of this Agreement, Party B
    shall, at Party A’s request, return any and all documents,
    information or software containing any of such Confidential
    Information to Party A or destroy it at its own discretion, and
    delete all of such Confidential Information from any memory
    devices, and cease to use such Confidential Information.

 

    5.2 Both parties acknowledge and confirm that any oral or
    written materials exchanged pursuant to this Agreement are
    confidential. Each party shall keep confidential all such
    materials and not disclose any such materials to any third party
    without the prior written consent from the other party except in
    the following situations: (a) such materials are or will
    become known by the public (through no fault of the receiving
    party); (b) any materials as required to be disclosed by
    the applicable laws or rules of the stock exchange; or
    (c) any materials disclosed by each party to its legal or
    financial advisors relating to the transactions contemplated by
    this Agreement, and such legal or financial advisors shall
    comply with the confidentiality provisions set forth in this
    Article 5. Any disclosure of confidential information by
    the personnel of any party or by the institutions engaged by
    such party shall be deemed as a disclosure by such party, and
    such party shall be liable for the breach under this Agreement.

 

    5.3 Both parties agree that this Article 5 shall
    survive the invalidity, cancellation, termination or
    unenforceability of this Agreement.

    

    2

 

    6. Indemnity

 

    Party B shall indemnify and hold harmless Party A from and
    against any losses, damages, liabilities or expenses arising
    from any litigation, claims or other request against Party A,
    which arises from or is caused by the content of consulting and
    services required by Party B.

 

    7. Effective Date and Term

 

    7.1 The term of this Agreement is ten (10) years
    unless terminated earlier as set forth herein or in accordance
    with the terms set forth in other agreements entered into by
    both parties.

 

    7.2 This Agreement may be extended with the written consent
    of both parties at its expiration, and the extended term shall
    be determined by both parties through negotiation. If both
    parties fail to reach any agreement on such extension, this
    Agreement shall be extended for one (1) year automatically
    at its expiration (including any expiration of extended term)
    unless Party A informs Party B of its decision not to extend
    this Agreement with a written notice before the expiration date.

 

    7.3 If the duration of operation (including any extension
    thereof) of either party is expired or terminated for other
    reasons within the term set forth in Sections 7.2 and 7.3
    hereof, this Agreement shall be terminated simultaneously,
    except in the situation where such party has assigned its rights
    and obligations in accordance with Article 13 hereof.

 

    8. Termination

 

    8.1 Termination upon Expiration

 

    This Agreement shall be terminated on its expiration date unless
    it is extended in accordance with the provisions hereof.

 

    8.2 Early Termination

 

    During the term of this Agreement, Party B shall not terminate
    this Agreement unless Party A engages in acts of gross
    negligence, fraud, other illegal acts or becomes bankrupt.
    Notwithstanding the foregoing provisions, Party A may terminate
    this Agreement at any time with a written notice to Party B
    given thirty (30) days in advance. During the term of this
    Agreement, if Party B breaches this Agreement and has not cured
    its breach within fourteen (14) days upon receipt of Party
    A’s written notice of such breach, Party A may inform Party
    B with a written notice of the termination of this Agreement.

 

    8.3 Survival

 

    The rights and obligations to both parties under
    Articles 5, 10 and 12 shall continue to be effective upon
    the termination of this Agreement.

 

    9. Governing Law

 

    The performance, interpretation and enforcement of this
    Agreement shall be governed by the laws of the PRC.

 

    10. Dispute Resolution

 

    Any dispute arising in connection with the interpretation and
    performance of the provisions of this Agreement shall be
    resolved by the parties in good faith through negotiations. In
    case no resolution can be reached by the parties within thirty
    (30) days after either party makes a request for a dispute
    resolution through negotiations, either party may refer such
    dispute to the China International Economic and Trade
    Arbitration Commission (the “CIETAC”) for arbitration
    in accordance with CIETAC’s arbitration rules then in
    effect. The seat of arbitration shall be in Beijing, and the
    language of the proceedings shall be Chinese. The arbitral award
    shall be final and binding upon both parties.

 

    11. Force Majeure

 

    11.1 Force Majeure, which includes but not limited to acts
    of governments, acts of nature, fires, explosions, typhoons,
    floods, earthquakes, tides, lightning or war, means any
    unforeseen event that is beyond the party’s reasonable
    control and cannot be prevented with reasonable care of the
    affected party. However, any

    

    3

 

    insufficiency of creditworthiness, capital or financing shall
    not be regarded as an event beyond the party’s reasonable
    control. The party affected by Force Majeure and seeks for the
    exemption from performing the obligations under this Agreement
    shall inform the other party of such exemption and any action
    taken by it for performing this Agreement.

 

    11.2 In the event that the affected party is delayed in or
    prevented from performing its obligations under this Agreement
    by Force Majeure, and only to the extent of such delay or
    prevention, the affected party shall not be liable for the
    obligations under this Agreement. The affected party shall take
    appropriate measures to minimize or remove the effects of Force
    Majeure and attempt to resume the performance of the obligations
    delayed or prevented by the event of Force Majeure. Once the
    event of Force Majeure is removed, both parties agree to resume
    the performance of this Agreement using their best efforts.

 

    12. Notices

 

    Notices or other communications required to be given by any
    party pursuant to this Agreement shall be written in English and
    Chinese and delivered personally or sent by registered mail or
    postage prepaid mail or by a recognized courier service or by
    facsimile transmission to the address of each relevant party or
    both parties set forth below or such other address or addressees
    as specified by such party from time to time. The date when the
    notice is deemed to be duly served shall be determined as
    follows: (a) a notice delivered personally is deemed duly
    served upon delivery; (b) a notice sent by mail is deemed
    duly served the tenth (10th) day after the date when the postage
    prepaid registered airmail was sent out (as is shown on the
    postmark), or the fourth (4th) day after the delivery date to
    the internationally-recognized courier service agency; and
    (c) a notice sent by facsimile transmission is deemed duly
    served upon the receipt time as is shown on the transmission
    confirmation for relevant documents.

 

	 	 	 
	

    Party A:

	
 
	
    Baidu Online Network Technology (Beijing) Co., Ltd.

	
 
	
 
	
    Address: 12/F, Ideal Intl. Plaza, No. 58 West-North
    4th Ring, Beijing PRC, 100080

	
 
	
 
	
    Attn: Haoyu Shen

	
 
	
 
	
    Fax: 86 10 8260-7009

	
 
	
 
	
    Tel: 86 10 8262-1188

	

    Party B:

	
 
	
    Beijing BaiduPay Science and Technology Co., Ltd.

	
 
	
 
	
    Address: Room 301, 3/F, Block D, Jia No. 18 Zhongguancun South
    Street, Haidian District, Beijing, PRC, 100081

	
 
	
 
	
    Attn: Jun Yu

	
 
	
 
	
    Fax: 86 10 82607008

	
 
	
 
	
    Tel: 86 10 82621188

 

    13. Assignment

 

    13.1 Party B shall not assign its rights or obligations
    under this Agreement to any third party without the prior
    written consent of Party A.

 

    13.2 Party B hereby agrees that Party A may assign its
    rights and obligations under this Agreement as Party A deems
    necessary and such transfer shall only be subject to a written
    notice sent to Party B by Party A, without further consent from
    Party B required.

 

    14. Entire Agreement

 

    Notwithstanding Article 7.1 hereof, both parties confirm
    that once this Agreement becomes effective, it shall constitute
    the entire agreement of both parties hereto with respect to the
    subject matters hereof and supersede all prior oral
    and/or
    written agreements and understandings by the parties with
    respect to the subject matters hereof.

 

    15. Severability

 

    If any provision of this Agreement is judged to be invalid or
    unenforceable because it is inconsistent with applicable laws,
    such invalidity or unenforceability shall be only with respect
    to such laws, and the validity, legality and enforceability of
    the other provisions hereof shall not be affected.

    

    4

 

    16. Amendment or Supplement

 

    Any amendment or supplement to this Agreement shall be made by
    the parties in writing. The amendments or supplements duly
    executed by each party shall form an integral part of this
    Agreement and shall have the same legal effect as this Agreement.

 

    17. Counterparts

 

    This Agreement shall be executed in two originals, with each
    party holding one original. All originals shall have the same
    legal effect.

 

    [No text below on this page]

    

    5

 

    IN WITNESS WHEREOF, each party hereto have caused this
    Agreement to be duly executed by its legal representative or a
    duly authorized representative on its behalf as of the date
    first set forth above.

 

 

    Party A: Baidu Online Network Technology (Beijing) Co.,
    Ltd.

 

		
	    Legal or Authorized Representative: 	
    /s/  Haoyu
    Shen

    

 

    Seal: [Baidu Online Network Technology (Beijing) Co., Ltd. seal]

 

 

    Party B: Beijing BaiduPay Science and Technology Co., Ltd.

 

		
	    Legal or Authorized Representative: 	
    /s/  Jun
    Yu

    

 

    Seal: [Beijing BaiduPay Science and Technology Co., Ltd. seal]

    

    6

 

    Appendix 1

 

    Content
    of Technology Consulting and Services

 

    1. Server maintenance and supporting services for network
    platform management;

 

    2. Development, renewal and update of service application
    software, and application of such software in
    www.baifubao.com and relevant connection domain name such
    as baifubao.com.cn, baifubao.cn, baifubao.net.cn, baifubao.net
    and other website owned and operated by Party B;

 

    3. Development, renewal and update of application software
    for online user;

 

    4. E-commerce
    technical service, including but not limited to services for
    design of
    e-commerce
    platform and maintenance;

 

    5. Training for technical and professional staff;

 

    6. Provide labor supporting as Party B’s request,
    including but not limited to lending or dispatching related
    staff (Party B shall burden the expenses for such staff);

 

    7. Other services agreed by both parties.

    

    7

 

    Exhibit 4.33

 

    Supplementary
    Agreement to the

    Exclusive Technology Consulting and Services Agreement

 

	 	 	 
	

    Party A:

	
 
	
    Baidu Online Network Technology (Beijing) Co., Ltd.

	

    Address:

	
 
	
    No. 10 Shangdi 10th Street, Haidian District, Beijing

	

    Party B:

	
 
	
    Beijing BaiduPay Science and Technology Co., Ltd.

	

    Address:

	
 
	
    No. 10 Shangdi 10th Street, Haidian District, Beijing

 

    (Collectively, the “Parties”)

 

    WHEREAS, Party A and Party B have made a certain
    Exclusive Technology Consulting and Services Agreement dated
    February 28, 2008 (the “Original Agreement”).

 

    NOW, THEREFORE, the Parties agree through friendly
    negotiation to amend the Original Agreement as follows on
    April 22, 2010:

 

    1. The Parties agree to amend Section 2.1 of the
    Original Agreement as follows:

 

    The original term is amended as “the Parties agree to
    calculate and pay the Fee under this Agreement in accordance
    with the methods listed on Appendix 2 hereof, and Party A
    is entitled to decide at its sole discretion the Fee under this
    Agreement
    and/or its
    calculation method.”

 

    2. This Agreement is an integral part of this Agreement. If
    there is any consistency between this Agreement and the Original
    Agreement, this Agreement shall prevail. Any matter that is not
    provided under this Agreement shall be governed by the Original
    Agreement.

 

    3. This Agreement is made in two counterparts with each
    Party holding one copy. Each copy has the same legal effect and
    will be effective upon signature and affixture of seals by the
    Parties.

 

    Party A: Baidu Online Network Technology (Beijing) Co.,
    Ltd.

 

		
	    By 	
    /s/  Legal
    representative/authorized representative

    (seal of Baidu Online Network Technology (Beijing) Co., Ltd.)

 

    Party B: Beijing BaiduPay Science and Technology Co.,
    Ltd.

 

		
	     By 	
    /s/  Legal
    representative/authorized representative

    (seal of Beijing BaiduPay Science and Technology Co., Ltd.)exv4w34

    Exhibit 4.34

 

    Operating
    Agreement

 

    This Operating Agreement (this “Agreement”) is entered
    into among the following parties in Beijing, PRC as of
    February 28, 2008:

 

	 	 	 
	

    Party A:

	
 
	
    Baidu Online Network Technology (Beijing) Co., Ltd.

	

    Address:

	
 
	
    12/F., Ideal International Plaza, No. 58 North-West
    4th Ring, Haidian District, Beijing, PRC, 100080

	

    Party B:

	
 
	
    Beijing BaiduPay Science and Technology Co., Ltd.

	

    Address:

	
 
	
    Room 301, 3/F, Block D, Jia No. 18 Zhongguancun South Street,
    Haidian District, Beijing, PRC, 100081

	

    Party C:

	
 
	
    Jun Yu

	

    ID No.:

	
 
	
    310226197403045510

	

    Party D:

	
 
	
    Beijing Netcom Science Technology Co., Ltd.

	

    Address:

	
 
	
    12/F., Ideal International Plaza, No. 58 North-West
    4th Ring, Haidian District, Beijing, PRC, 100080

 

    WHEREAS:

 

    1. Party A is a wholly foreign-owned enterprise duly
    incorporated and validly existing under the laws of the
    People’s Republic of China (the “PRC”), which has
    the technology expertise and practical experience in the
    development and design of computer software, and also has rich
    experience and a team of professionals specializing in
    information technology and service;

 

    2. Party B is a limited liability company duly incorporated
    and validly existing under PRC law, which carries out the
    business of individually operating third party payment platform
    (provide online payment for
    e-commerce);

 

    3. Party C and Party D are shareholders of Party B, in
    which Party C owns  9% and Party D owns 
    91% of the equity interest;

 

    4. Party A has established a business relationship with
    Party B by entering into an Exclusive Technology Consulting and
    Services Agreement ( the “Services Agreement”), a Web
    Layout Copyright License Agreement, a Trademark License
    Agreement and a Domain Name License Agreement;

 

    5. Pursuant to the above-mentioned agreements between Party
    A and Party B, Party B shall pay certain sums of money to Party
    A. However, no account payable under those agreements has been
    paid, and the daily operations of Party B will have a material
    effect on Party B’s ability to pay such account payable to
    Party A;

 

    NOW THEREFORE, through negotiations, all parties to this
    Agreement hereby agree as follows:

 

    1. Party A agrees, subject to the satisfaction of the
    relevant provisions herein by Party B, to be the guarantor of
    Party B in the contracts, agreements or transactions entered
    into between Party B and any third party in connection with
    Party B’s business and operations, to provide full
    guarantees for the performance of such contracts, agreements or
    transactions by Party B. As counter-guarantee, Party B agrees to
    pledge the accounts receivable in its operations and all of its
    assets to Party A. According to the aforesaid guarantee
    arrangement, Party A, when necessary, is willing to enter into
    written guarantee contracts with Party B’s counterparties
    to assume the guarantor’s liabilities. Party B, Party C and
    Party D shall take all necessary actions (including, but not
    limited to, executing the relevant documents and filing the
    relevant registrations) to carry out the counter-guarantee
    arrangement with Party A.

 

    2. In consideration of the requirements of Article 1
    hereof and to ensure the performance of the various business
    agreements between Party A and Party B and the payment by Party
    B of the amounts payable to Party A thereunder, Party B,
    together with its shareholders Party C and Party D, hereby
    jointly agree that, without Party A’s prior written
    consent, Party B shall not engage in any transaction that may
    materially affect its assets, liabilities, rights or operations
    (except that Party B may, in the ordinary course of its
    business, enter into business contracts or

 

    agreements, sell or purchase assets and create liens in favor of
    relevant counter parties as required by law.), including, but
    not limited to, the following:

 

    2.1 To borrow money from any third party or assume any debt;

 

    2.2 To sell to or acquire from any third party any asset or
    rights, including, but not limited to, any intellectual property
    rights;

 

    2.3 To provide guarantee for any third party using its
    assets or intellectual property rights as collaterals; or

 

    2.4 To assign to any third party its business contracts.

 

    3. In order to ensure the performance of the various
    business agreements between Party A and Party B and the payment
    by Party B of the amounts payable to Party A thereunder, Party
    B, together with its shareholders Party C and Party D, hereby
    jointly agree to accept advices and guidance provided by Party A
    from time to time relating to its corporate policies on matters
    such as employment and dismissal of employees, daily operations
    and management, and financial management.

 

    4. Party B, together with its shareholders Party C and
    Party D, hereby jointly agree that Party C and Party D shall
    appoint candidates recommended by Party A as directors of Party
    B, and Party B shall appoint Party A’s senior executive
    officers recommended by Party A as its president, chief
    financial officer and other senior executive officers. If any of
    the above-mentioned senior executive officers of Party A leaves
    Party A, whether voluntarily or as a result of dismissal by
    Party A, he or she shall also lose
    his/her
    right to hold any position at Party B, and Party B shall appoint
    other senior executive officers of Party A recommended by Party
    A to fill such a position. The persons recommended by Party A in
    accordance with this Article 4 shall comply with the legal
    requirements regarding the qualifications of directors,
    presidents, chief financial officers, and other senior executive
    officers.

 

    5. Party B, together with its shareholders Party C and
    Party D, hereby jointly agree and confirm that Party B shall
    first seek a guarantee from Party A if Party B needs any
    guarantee for its performance of any of its contracts or for any
    borrowing for working capital purposes in the course of its
    operations. In such cases, Party A shall have the right, but not
    the obligation, to provide the appropriate guarantee to Party B
    at Party A’s sole discretion. If Party A decides not to
    provide such a guarantee, Party A shall immediately issue a
    written notice to Party B and Party B may seek a guarantee from
    third parties.

 

    6. In the event that any of the agreements between Party A
    and Party B terminates or expires, Party A shall have the right,
    but not the obligation, to terminate all agreements between
    Party A and Party B including, but not limited to, the Services
    Agreement.

 

    7. Any amendment or supplement to this Agreement shall be
    made in writing. The amendment or supplement duly executed by
    all parties shall form an integral part of this Agreement and
    shall have the same legal effect as this Agreement.

 

    8. Should any provision of this Agreement be held invalid
    or unenforceable because of inconsistency with applicable laws,
    such provision shall be invalid or unenforceable only to the
    extent of such applicable laws without affecting the validity or
    enforceability of the remainder of this Agreement.

 

    9. Party B shall not assign its rights and obligations
    under this Agreement to any third party without the prior
    written consent of Party A. Party B hereby agrees that Party A
    may assign its rights and obligations under this Agreement as
    Party A sees fit, in which case Party A only needs to give a
    written notice to Party B and no further consent of Party Bs is
    required.

 

    10. Each party acknowledges and confirms that any oral or
    written materials exchanged pursuant to this Agreement are
    confidential. Each party shall keep confidential all such
    materials and not disclose any such materials to any third party
    without the prior written consent from the other party except in
    the following situations: (a) such materials are or will
    become known by the public (through no fault of the receiving
    party); (b) any materials as required to be disclosed by
    the applicable laws or rules of the stock exchange; or
    (c) any materials disclosed by each party to its legal or
    financial advisors relating to the transactions contemplated by
    this Agreement, and such legal or financial advisors shall
    comply with the confidentiality provisions set forth in this
    Article 10. Any

    

    2

 

    disclosure of confidential information by the personnel of any
    party or by the institutions engaged by such party shall be
    deemed as a disclosure by such party, and such party shall be
    liable for the breach under this Agreement. This Article 10
    shall survive the invalidity, cancellation, termination or
    unenforceability of this Agreement for any reason.

 

    11. This Agreement shall be governed by and interpreted in
    accordance with the laws of the PRC.

 

    12. Any dispute arising in connection with the
    interpretation and performance of the provisions of this
    Agreement shall be resolved by the parties in good faith through
    negotiations. In case no resolution can be reached by the
    parties through negotiations, either party may refer such
    dispute to the China International Economic and Trade
    Arbitration Commission (the “CIETAC”) for arbitration
    in accordance with CIETAC’s arbitration rules then in
    effect. The seat of arbitration shall be in Beijing, and the
    language of the proceedings shall be Chinese. The arbitral award
    shall be final and binding upon both of the Parties.

 

    13. This Agreement shall be executed by a duly authorized
    representative of each party and become effective as of the date
    first written above.

 

    14. Notwithstanding Article 13 hereof, once effective,
    this Agreement shall constitute the entire agreement of the
    parties hereto with respect to the subject matters hereof and
    supersede all prior oral
    and/or
    written agreements and understandings by the parties with
    respect to the subject matters hereof.

 

    15. The term of this Agreement is ten (10) years
    unless terminated earlier in accordance with the provisions of
    this Agreement or related agreements entered into by the
    parties. This Agreement may be extended only with the written
    consent of Party A before its expiration. The term of the
    extension shall be decided by the parties through negotiation.
    If the duration of operation (including any extension thereof)
    of Party A or Party B is expired or terminated for other reasons
    within the aforesaid term of this Agreement, this Agreement
    shall be terminated simultaneously, unless such party has
    already assigned its rights and obligations hereunder in
    accordance with Article 9 hereof.

 

    16. This Agreement will terminate on the expiration date
    unless it is renewed in accordance with the relevant provision
    herein. During the term of this Agreement, Party B shall not
    terminate this Agreement. Notwithstanding the above stipulation,
    Party A shall have the right to terminate this Agreement at any
    time by issuing a thirty (30) days’ prior written
    notice to Party B.

 

    17. This Agreement shall be executed in four originals,
    with each party holding one original. All originals shall have
    the same legal effect.

    

    3

 

    IN WITNESS THEREOF, each party hereto has caused this
    Agreement to be duly executed by himself/herself or a duly
    authorized representative on its behalf as of the date first
    written above.

 

    Party A: Baidu Online Network Technology (Beijing) Co.,
    Ltd.

 

		
	    Authorized
    Representative: /s/  
	
    Haoyu Shen

    Seal: [Baidu Online Network Technology (Beijing) Co., Ltd. seal]

 

    Party B: Beijing BaiduPay Science and Technology Co., Ltd.

 

		
	    Authorized
    Representative: /s/  
	
    Jun Yu

    [Beijing BaiduPay Science and Technology Co., Ltd. seal]

 

    Party C: Jun Yu

 

		
	    Signature: /s/  
	
    Jun Yu

 

    Party D: Beijing Netcom Science Technology Co., Ltd.

 

    Signature: /s/  Robin
    Yanhong Li

    Seal: [Beijing Netcom Science Technology Co., Ltd. seal]

    

    4

 

    Exhibit 4.34

 

    Supplementary
    Agreement to the Operating Agreement

 

	 	 	 
	

    Party A:

	
 
	
    Baidu Online Network Technology (Beijing) Co., Ltd.

	

    Address:

	
 
	
    12/F., Ideal International Plaza, No. 58 North-West
    4th Ring, Haidian District, Beijing

	

    Party B:

	
 
	
    Beijing BaiduPay Science and Technology Co., Ltd.

	

    Address:

	
 
	
    301 3/F, Jia 18 Zhongguancun Nandajie, Haidian District, Beijing

	

    Party C:

	
 
	
    CAI Hu

	

    ID No.

	
 
	
    320106197212162416

	

    Party D:

	
 
	
    Beijing Baidu Netcom Science Technology Co., Ltd.

	

    Address:

	
 
	
    12/F., Ideal International Plaza, No. 58 North-West
    4th Ring, Haidian District, Beijing

 

    (Collectively, the “Parties”)

 

    WHEREAS

 

    1. Party A, Party B, Party C and YU Jun, being an original
    shareholder of Party B, have made a certain Operating Agreement
    dated February 28, 2008 (the “Original
    Agreement”); and

 

    2. Party C is a shareholder of Party B, and Party B’s
    current shareholders comprise of Party D and Party C.

 

    NOW, THEREFORE, the Parties agree through friendly
    negotiation to amend the Original Agreement as follows on
    April 22, 2010:

 

    1. The Parties agree to amend Section 5 of the
    Original Agreement as follows:

 

    The original term which reads:

 

    “Party B, together with its shareholder Party C, hereby
    jointly agree and confirm that Party B shall first seek a
    guarantee from Party A if Party B needs any guarantee for its
    performance of any of its contracts or for any borrowing for
    working capital purposes in the course of its operations. In
    such cases, Party A shall have the right, but not the
    obligation, to provide the appropriate guarantee to Party B at
    Party A’s sole discretion. If Party A decides not to
    provide such a guarantee, Party A shall immediately issue a
    written notice to Party B and Party B may seek a guarantee from
    third parties.”

 

    Is amended as:

 

    “Party B, together with its shareholder Party C, hereby
    jointly agree and confirm that Party B shall first seek a
    guarantee from Party A if Party B needs any guarantee for its
    performance of any of its contracts or for any borrowing for
    working capital purposes in the course of its operations. In
    such cases, Party A shall have the obligation to provide
    appropriate guarantee to Party B at Party A’s sole
    discretion.”

 

    2. This Agreement is an integral part of this Agreement. If
    there is any consistency between this Agreement and the Original
    Agreement, this Agreement shall prevail. Any matter that is not
    provided under this Agreement shall be governed by the Original
    Agreement.

 

    3. This Agreement is made in four counterparts with each
    Party holding one copy. Each copy has the same legal effect and
    will be effective upon signature and affixture of seals by the
    Parties.

 

    Party A: Baidu Online Network Technology (Beijing) Co.,
    Ltd.

 

		
	    By 	
    /s/  Legal
    representative/authorized representative

    (seal of Baidu Online Network Technology (Beijing) Co., Ltd.)

 

    Party B: Beijing BaiduPay Science and Technology Co., Ltd.

 

		
	    By 	
    /s/  Legal
    representative/authorized representative

    (seal of Beijing BaiduPay Science and Technology Co., Ltd.)

 

    Party C: CAI Hu

 

		
	    By 	
    /s/  CAI
    Hu

 

    Party D: Beijing Baidu Netcom Science Technology Co., Ltd.

 

		
	    By 	
    /s/  Legal
    representative/authorized representative

    (seal of Beijing Baidu Netcom Science Technology Co., Ltd.)

    

    2

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