Document:

Employment Agreement

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

EMPLOYMENT AGREEMENT, effective as of November 30, 2009, by and between Sohu.com Inc., a Delaware corporation, and
Xiaochuan Wang, an individual (the “Employee”). 
 1. Definitions. Capitalized terms used
herein and not otherwise defined in the text below will have the meanings ascribed thereto on Annex 1. 

2. Employment; Duties. 

(a) The Company agrees to employ the Employee in the capacity and with such responsibilities as are generally set forth
on Annex 2. 
 (b) The Employee hereby agrees to devote his or her full time and best efforts in such
capacities as are set forth on Annex 2 on the terms and conditions set forth herein. Notwithstanding the foregoing, the Employee may engage in other activities, such as activities involving professional, charitable, educational, religious and
similar types of organizations, provided the Employee complies with the Employee Non-competition, Non-solicitation, Confidential Information and Work Product Agreement attached hereto as Annex 3 (the “Employee Obligations
Agreement”) and such other activities do not interfere with or prohibit the performance of the Employee’s duties under this Agreement, or conflict in any material way with the business of the Company or of its subsidiaries and affiliates.
The Employee Obligations Agreement will be effective as of the date hereof and will have full force and effect with respect to, or arising in connection with, all matters on or after the date hereof. 

(c) The Employee will use best efforts during the Term to ensure that the Company’s business and those of its
subsidiaries and affiliates are conducted in accordance with all applicable laws and regulations of all jurisdictions in which such businesses are conducted. 

3. Compensation. 

(a) Base Annual Income. During the Term, the Company will pay the Employee an annual base salary as set forth on
Annex 2, payable monthly pursuant to the Company’s normal payroll practices. 
 (b) Discretionary
Bonus. During the Term, the Company, in its sole discretion, may award to the Employee an annual bonus based on the Employee’s performance and other factors deemed relevant by the Company’s Board of Directors. 

(c) Stock Options and Restricted Stock Units. The Employee will be eligible to participate in any stock option,
restricted stock unit, or other equity incentive program available to officers or employees of the Company. 

(d) Reimbursement of Expenses. The Company will reimburse the Employee for reasonable expenses incurred by the
Employee in the course of, and necessary in connection with, the performance by the Employee of his or her duties to the Company, provided that such expenses are substantiated in accordance with the Company’s policies. 

 

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 4. Other Employee Benefits. 

(a) Vacation; Sick Leave. The Employee will be entitled to such number of weeks of paid vacation each year as are
set forth on Annex 2, the taking of which must be coordinated with the Employee’s supervisor in accordance with the Company’s standard vacation policy. Unless otherwise approved by the Company’s Board of Directors, vacation
that is not used in a particular year may only be carried forward to subsequent years in accordance with the Company’s policies in effect from time to time. The Employee will be eligible for sick leave in accordance with the Company’s
policies in effect from time to time. 
 (b) Healthcare Plan. The Company will arrange for membership in
the Company’s group healthcare plan for the Employee and the Employee’s spouse, in accordance with the Company’s standard policies from time to time with respect to health insurance and in accordance with the rules established for
individual participation in such plan and under applicable law. 
 (c) Life and Disability Insurance. The
Company will provide term life and disability insurance payable to the Employee, in each case in an amount up to a maximum of two times the Employee’s base salary in effect from time to time, provided however, that such amount will be reduced
by the amount of any life insurance or death or disability benefit coverage, as applicable, that is provided to the Employee under any other benefit plans or arrangements of the Company. Such policies will be in accordance with the Company’s
standard policies from time to time with respect to such insurance and the rules established for individual participation in such plans and under applicable law. 

(d) Other Benefits. Pursuant to the Company’s policies in effect from time to time and the applicable plan
rules, the Employee will be eligible to participate in the other employee benefit plans of general application, which may include, without limitation, housing allowance, in any event, shall include the benefits at the levels set forth on Annex
2. 
 5. Certain Representations, Warranties and Covenants of the Employee. 

(a) Related Company Positions. The Employee agrees that the Employee and members of the Employee’s immediate
family will not have any financial interest directly or indirectly (including through any entity in which the Employee or any member of the Employee’s immediate family has a position or financial interest) in any transactions with the Company
or any subsidiaries or affiliates thereof unless all such transactions, prior to being entered into, have been disclosed to the Board of Directors and approved by a majority of the independent members of the Board of Directors and comply with all
other Company policies and applicable law as may be in effect from time to time. The Employee also agrees that he or she will inform the Board of Directors of the Company of any transactions involving the Company or any of its subsidiaries or
affiliates in which senior officers, including but not limited to the Employee, or their immediate family members have a financial interest. 
  

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 (b) Discounts, Rebates or Commissions. Unless expressly permitted by
written policies and procedures of the Company in effect from time to time that may be applicable to the Employee, neither the Employee nor any immediate family member will be entitled to receive or obtain directly or indirectly any discount, rebate
or commission in respect of any sale or purchase of goods or services effected or other business transacted (whether or not by the Employee) by or on behalf of the Company or any of its subsidiaries or affiliates, and if the Employee or any
immediate family member (or any firm or company in which the Employee or any immediate family member is interested) obtains any such discount, rebate or commission, the Employee will pay to the Company an amount equal to the amount so received (or
the proportionate amount received by any such firm or company to the extent of the Employee’s or family member’s interest therein). 

6. Term; Termination. 

(a) Unless sooner terminated pursuant to the provisions of this Section 6, the term of this Agreement (the
“Term”) will commence on the date hereof and end on November 29, 2012. 
 (b) Voluntary
Termination by the Employee. Notwithstanding anything herein to the contrary, the Employee may voluntarily Terminate this Agreement by providing the Company with ninety (90) days’ advance written notice (“Voluntary
Termination”), in which case, the Employee will not be entitled to receive payment of any severance benefits or other amounts by reason of the Termination other than accrued salary and vacation through the date of the Termination. The
Employee’s right to all other benefits will terminate as of the date of Termination, other than any continuation required by applicable law. Without limiting the foregoing, if, in connection with a Change in Control, the surviving entity or
successor to Sohu’s business offers the Employee employment on substantially equivalent terms to those set forth in this Agreement and such offer is not accepted by the Employee, the refusal by the Employee to accept such offer and the
subsequent termination of the Employee’s employment by the Company shall be deemed to be a voluntary termination of employment by the Employee and shall not be treated as a termination by the Company without Cause. 

(c) Termination by the Company for Cause. Notwithstanding anything herein to the contrary, the Company may
Terminate this Agreement for Cause by written notice to the Employee, effective immediately upon the delivery of such notice. In such case, the Employee will not be entitled to receive payment of any severance benefits or other amounts by reason of
the Termination other than accrued salary and vacation through the date of the Termination. The Employee’s right to all other benefits will terminate, other than any continuation required by applicable law. 

 

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 (d) Termination by the Employee with Good Reason or Termination by the
Company without Cause. Notwithstanding anything herein to the contrary, the Employee may Terminate this Agreement for Good Reason, and the Company may Terminate this Agreement without Cause, in either case upon thirty (30) days’
advance written notice by the party Terminating this Agreement to the other party and the Termination shall be effective as of the expiration of such thirty (30) day period. If the Employee Terminates with Good Reason or the Company Terminates
without Cause, the Employee will be entitled to continue to receive payment of severance benefits equal to the Employee’s monthly base salary in effect on the date of Termination for the shorter of (i) six (6) months and (ii) the
remainder of the Term of this Agreement (the “Severance Period”), provided that the Employee complies with the Employee Obligations Agreement during the Severance Period and executes a release agreement in the form requested by the Company
at the time of such Termination that releases the Company from any and all claims arising from or related to the employment relationship and/or such Termination. Such payments will be made ratably over the Severance Period according to the
Company’s standard payroll schedule. The Employee will also receive payment of the bonus for the remainder of the year of the Termination, but only to the extent that the bonus would have been earned had the Employee continued in employment
through the end of such year, as determined in good faith by the Company’s CEO, Board of Directors or its Compensation Committee based on the specific corporate and individual performance targets established for such fiscal year, and only to
the extent that bonuses are paid for such fiscal year to other similarly situated employees. Health insurance benefits with the same coverage provided to the Employee prior to the Termination and in all other material respects comparable to those in
place immediately prior to the Termination will be provided at the Company’s expense during the Severance Period. The Company will also continue to carry the Employee on its Directors and Officers insurance policy for six (6) years
following the Date of Termination at the Company’s expense with respect to insurable events which occurred during the Employee’s term as a director or officer of the Company, with such coverage being at least comparable to that in effect
immediately prior to the Termination Date; provided, however, that (i) such terms, conditions and exceptions will not be, in the aggregate, materially less favorable to the Employee than those in effect on the Termination Date and (ii) if
the aggregate annual premiums for such insurance at any time during such period exceed two hundred percent (200%) of the per annum rate of premium currently paid by the Company for such insurance, then the Company will provide the maximum
coverage that is then available at an annual premium equal to two hundred percent (200%) of such rate. 

(e) Termination by Reason of Death or Disability. A Termination of the Employee’s employment by reason of
death or Disability shall not be deemed to be a Termination by the Company (for or without Cause) or by the Employee (for or without Good Reason). In the event that the Employee’s employment with the Company Terminates as a result of the
Employee’s death or Disability, the Employee or the Employee’s estate or representative, as applicable, will receive all accrued salary and accrued vacation as of the date of the Employee’s death or Disability and any other benefits
payable under the Company’s then existing benefit plans and policies in accordance with such plans and policies in effect on the date of death or Disability and in accordance with applicable law. In addition, the Employee or the Employee’s
estate or representative, as applicable, will receive the bonus for the year in which the death or Disability occurs to the extent that a bonus would have been earned had the Employee continued in employment through the end of such year, as
determined in good faith by the Company’s CEO, Board of Directors or Compensation Committee of the Board of Directors based on the specific corporate and individual performance targets established for such fiscal year, and only to the extent
that bonuses are paid for such fiscal year to other similarly situated employees. 
  

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 (f) Misconduct After Termination of Employment. Notwithstanding the
foregoing or anything herein to the contrary, if the Employee after the termination of his or her employment violates or fails to fully comply with the Employee Obligations Agreement, thereafter (1) the Employee shall not be entitled to any
payments from the Company, (2) any insurance or other benefits that have continued shall terminate immediately, (3) the Employee shall promptly reimburse to the Company all amounts that have been paid to the Employee pursuant to this
Section 6; and (4) if the Employee would not, in the absence of such violation or failure to comply, have been entitled to severance payments from the Company equal to at least six (6) months’ base salary, pay to the Company an
amount equal to the difference between six (6) months’ base salary and the amount of severance pay measured by base salary reimbursed to the Company by the Employee pursuant to clause 3 of this sentence. 

7. Share-Based Compensation-Related Provisions. 

(a) Termination by the Company Without Cause after a Change in Control. If Company Terminates this Agreement
without Cause within twelve (12) months following a Change in Control, the vesting and exercisability of each of the Employee’s outstanding stock options, restricted stock units or other share-based incentive awards (“Awards”)
will accelerate such that the Award will become fully vested and exercisable upon the effectiveness of the Termination, and any repurchase right of the Company with respect to shares of stock issued upon exercise of the Award will completely lapse,
in each case subject to paragraph (c) below (“Forfeiture of Options for Misconduct”). 
 (b)
Termination other than by the Company Without Cause after a Change in Control. If the Employee’s employment with the Company Terminates for any reason, unless the Company Terminates this Agreement without Cause within twelve
(12) months following a Change in Control, the vesting and exercisability of each of the Employee’s outstanding Awards shall cease upon the effectiveness of the Termination, such that any unvested Award shall be cancelled. 

(c) Forfeiture of Options for Misconduct. If the Employee fails to comply with the terms of this Agreement, the
Employee Obligations Agreement, or the written policies and procedures of the Company, as the same may be amended from time to time, or acts against the specific instructions of the Board of Directors of the Company or if this Agreement is
terminated by the Company for Cause (each a “Penalty Breach”), the Employee will forfeit any Awards that have been granted to him or her or to which the Employee may be entitled, whether the same are then vested or not, and the same
shall thereafter not be exercisable at all, and all shares of common stock of the Company, if any, purchased by the Employee pursuant to the exercise of Awards and still then owned by the Employee may be repurchased by the Company, at its sole
discretion, at the price paid by the Employee for such shares of common stock. The terms of all outstanding option grants are hereby amended to conform with this provision. 

8. Employee Obligations Agreement. By signing this Agreement, the Employee hereby agrees to execute and deliver to
the Company the Employee Obligations Agreement, and such execution and delivery shall be a condition to the Employee’s entitlement to his or her rights under this Agreement. 

 

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 9. Governing Law; Resolution of Disputes. This Agreement will be
governed by and construed and enforced in accordance with the laws of the State of New York if the Employee is not a citizen of the People’s Republic of China (the “PRC”), and in accordance with the laws of the PRC if the Employee is
a citizen of the PRC, in each case exclusive of such jurisdiction’s principles of conflicts of law. If, under the applicable law, any portion of this Agreement is at any time deemed to be in conflict with any applicable statute, rule,
regulation or ordinance, such portion will be deemed to be modified or altered to conform thereto or, if that is not possible, to be omitted from this Agreement; the invalidity of any such portion will not affect the force, effect and validity of
the remaining portion hereof. Each of the parties hereto irrevocably (i) agrees that any dispute or controversy arising out of, relating to, or concerning any interpretation, construction, performance or breach of this Agreement, shall be
settled by arbitration to be held in Hong Kong under the UNCITRAL Arbitration Rules in accordance with the HKIAC Procedures for the Administration of International Arbitration in force at the date of this Agreement (the “Arbitration
Rules”), (ii) waives, to the fullest extent it may effectively do so, any objection which it may now or hereafter have to the laying of venue of any such arbitration, and (iii) submits to the exclusive jurisdiction of Hong Kong in any
such arbitration. There shall be one arbitrator, selected in accordance with the Arbitration Rules. The decision of the arbitrator shall be final, conclusive and binding on the parties to the arbitration. Judgment may be entered on the
arbitrator’s decision in any court having jurisdiction. The parties to the arbitration shall each pay an equal share of the costs and expenses of such arbitration, and each party shall separately pay for its respective counsel fees and
expenses; provided, however, that the prevailing party in any such arbitration shall be entitled to recover from the non-prevailing party its reasonable costs and attorney fees. 

10. Notices. All notices, requests and other communications under this Agreement will be in writing (including
facsimile or similar writing and express mail or courier delivery or in person delivery, but excluding ordinary mail delivery) and will be given to the address stated below: 

 

	 	(a)	 if to the Employee, to the address or facsimile number that is on file with the Company from time to time, as may be updated by the Employee;

  

	 	(b)	 if to the Company: 

Sohu.com Inc. 

Level 12, Sohu.com Internet Plaza 

No. 1 Unit Zhongguancun East Road, Haidian District 

Beijing 100084 

People’s Republic of China 

			
	 Attention:
	 	 Charles Zhang

		 	 Chairman and Chief Executive Officer

fax: (86-10) 5872-2777 

with a copy to: 

Goulston & Storrs 

400 Atlantic Avenue 

Boston, MA 02110 

Attention: Timothy B. Bancroft 

fax: (617) 574-7568 

or to such other address or facsimile number as either party may hereafter specify for the purpose by written notice to the other party
in the manner provided in this Section 10. All such notices, requests and other communications will be deemed received: (i) if given by facsimile transmission, when transmitted to the facsimile number specified in this Section 10 if
confirmation of receipt is received or (ii) if given by express mail or courier delivery or given in person, when delivered. 
  

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 11. Miscellaneous. 

(a) Entire Agreement. This Agreement constitutes the entire understanding between the Company and the Employee
relating to the subject matter hereof and supersedes and cancels all prior and contemporaneous written and oral agreements and understandings with respect to the subject matter of this Agreement. No agreements or representations, oral or otherwise,
express or implied, with respect to the subject matter hereof have been made by either party which are not set forth expressly in this Agreement. 

(b) Modification; Waiver. No provision of this Agreement may be modified, waived or discharged unless
modification, waiver or discharge is agreed to in writing signed by the Employee and such officer of the Company as may be specifically designated by its Board of Directors. No waiver by either party at any time of any breach by the other party of,
or compliance with, any condition or provision of this Agreement to be performed by such other party will be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. 

(c) Successors; Binding Agreement. This Agreement will be binding upon and will inure to the benefit of the
Employee, the Employee’s heirs, executors, administrators and beneficiaries, and the Company and its successors (whether direct or indirect, by purchase, merger, consolidation or otherwise), subject to the terms and conditions set forth herein.

 (d) Withholding Taxes. All amounts payable to the Employee under this Agreement will be subject to
applicable withholding of income, wage and other taxes to the extent required by applicable law. 
 (e)
Validity. The invalidity or unenforceability of any provision or provisions of this Agreement will not affect the validity or enforceability of any other provision of this Agreement, which will remain in full force and effect. 

(f) Language. This Agreement is written in the English language only. The English language also will be the
controlling language for all future communications between the parties hereto concerning this Agreement. 
 (g)
Counterparts. This Agreement may be signed in any number of counterparts, each of which will be deemed an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 

[SIGNATURE PAGE FOLLOWS] 
  

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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the year and day first above written. 
  

									
	 Signature of Employee:
	 		 	 Sohu.com Inc.

				
	  
	 		 	 By:
	 	  

	 Printed name of employee:
	 		 		 	 Name: Charles Zhang

	 Xiaochuan Wang
	 		 		 	 Title: Chief Executive Officer

  

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 Annex 1 

Certain Definitions 

“Cause” means: 
  

	 	(i)	 willful misconduct or gross negligence by the Employee, or any willful or grossly negligent omission to perform any act, resulting in injury to the
Company or any subsidiaries or affiliates thereof; 

  

	 	(ii)	 misconduct or negligence of the Employee that results in gain or personal enrichment of the Employee to the detriment of the Company or any
subsidiaries or affiliates thereof; 

  

	 	(iii)	 breach of any of the Employee’s agreements with the Company, including those set forth herein and in the Employee Obligations Agreement, and
including, but not limited to, the repeated failure to perform substantially the Employee’s duties to the Company or any subsidiaries or affiliates thereof, excessive absenteeism or dishonesty; 

 

	 	(iv)	 any attempt by the Employee to assign or delegate this Agreement or any of the rights, duties, responsibilities, privileges or obligations hereunder
without the prior consent of the Company (except in respect of any delegation by the Employee of his or her employment duties hereunder to other employees of the Company in accordance with its usual business practice); 

 

	 	(v)	 the Employee’s indictment or conviction for, or confession of, a felony or any crime involving moral turpitude under the laws of the United
States or any State thereof, or under the laws of China, or Hong Kong; 

  

	 	(vi)	 declaration by a court that the Employee is insane or incompetent to manage his or her business affairs; 

 

	 	(vii)	 habitual drug or alcohol abuse which materially impairs the Employee’s ability to perform his or her duties; or 

 

	 	(viii)	 filing of any petition or other proceeding seeking to find the Employee bankrupt or insolvent. 

“Change in Control” means the occurrence of any of the following events: 

 

	 	(i)	 any person (within the meaning of Section 13(d) or Section 14(d)(2) of the Securities Exchange Act of 1934) other than the Company, any
trustee or other fiduciary holding securities under an employee benefit plan of the Company or any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportion as their ownership of stock of the
Company, becomes the direct or beneficial owner of securities representing fifty percent (50%) or more of the combined voting power of the Company’s then-outstanding securities; 

 

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	 	(ii)	 during any period of two (2) consecutive years after the date of this Agreement, individuals who at the beginning of such period constitute the
Board of Directors of the Company, and all new directors (other than directors designated by a person who has entered into an agreement with the Company to effect a transaction described in (i), (iii), or (iv) of this definition) whose election
or nomination to the Board was approved by a vote of at least two-thirds of the directors then in office, cease for any reason to constitute at least a majority of the members of the Board; 

 

	 	(iii)	 the effective date of a merger or consolidation of the Company with any other entity, other than a merger or consolidation which would result in the
voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than 50% of the
combined voting power of the voting securities of the surviving entity outstanding immediately after such merger or consolidation and with the power to elect at least a majority of the board of directors or other governing body of such surviving
entity; 

  

	 	(iv)	 the complete liquidation of the Company or the sale or disposition by the Company of all or substantially all of the Company’s assets; or

  

	 	(v)	 there occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or a
response to any similar item on any similar schedule or form) promulgated under the Exchange Act (as defined below), whether or not the Company is then subject to such reporting requirement. 

“Company” means Sohu.com Inc and, unless the context suggests to the contrary, all of its subsidiaries and related companies.

 “Disability” means the Employee becomes physically or mentally impaired to an extent which renders him or her
unable to perform the essential functions of his or her job, with or without reasonable accommodation, for a period of six consecutive months, or an aggregate of nine months in any two year period. 

“Good Reason” means the occurrence of any of the following events without the Employee’s express written consent, provided
that the Employee has given notice to the Company of such event and the Company has not remedied the problem within fifteen (15) days: 
  

	 	(i)	 any significant change in the duties and responsibilities of the Employee inconsistent in any material and adverse respect with the Employee’s
title and position (including status, officer positions and reporting requirements), authority, duties or responsibilities as contemplated by Annex 2 to this Agreement. For the purposes of this Agreement, because of the evolving nature of the
Employer’s business, the Company’s changing of Employee’s reporting relationships and department(s) will not be considered a significant change in duties and responsibilities; 

 

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	 	(ii)	 any material breach by the Company of this Agreement, including without limitation any reduction of the Employee’s base salary or the
Company’s failure to pay to the Employee any portion of the Employee’s compensation; or 

  

	 	(iii)	 the failure, in the event of a Change in Control in which the Company is not the surviving entity, of the surviving entity or the successor to the
Company’s business to assume this Agreement pursuant to its terms or to offer the Employee employment on substantially equivalent terms to those set forth in this Agreement. 

“Termination” (and any similar, capitalized use of the term, such as “Terminate”) means, according to the context,
the termination of this Agreement or the Employee’s ceasing to render employment services. 
  

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 Annex 2 

Particular Terms of Employee’s Employment 
  

	Title(s):	Chief Technology Officer 

  

			
	 Reporting Requirement:
	 	 The Employee will report to the Company’s Chief Executive Officer.

 

			
	 Responsibilities:
	 	 Such duties and responsibilities as are ordinarily associated with the Employee’s title(s) in a United States publicly-traded corporation and such other
duties as may be specified by the Board of Directors from time to time.

  

	Base Salary:	$180,000_per year, subject to adjustment by the Board of Directors from time to time. 

# of Weeks of Paid Vacation per Year:            Three (3) 

Other Benefits: 
 Annual allowance or
reimbursement after tax of U.S. $30,000 per year. 
 Health, life and disability insurance as per company policy. 

Bonus (50% of annual base pay will be the Employee’s target bonus, based on the senior management bonus plan in effect from
time to time) as specifically approved each year. 
  

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 Annex 3 

FORM OF EMPLOYEE NON-COMPETITION, NON-SOLICITATION, CONFIDENTIAL INFORMATION AND WORK PRODUCT AGREEMENT 

In consideration of my employment and the compensation paid to me by Sohu.com Inc., a Delaware corporation, or a
subsidiary or other affiliate or related company thereof (Sohu.com Inc. or any such subsidiary or related company or other affiliate referred to herein individually and collectively as “SOHU”), and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, I agree as follows: 
 1.
Non-Competition. During my employment with SOHU and continuing after the termination of my employment for the longer of (i) one year after the termination of my employment with SOHU for any reason and (ii) such period of time as
SOHU is paying to me any severance benefits, (the “Noncompete Period”), I will not, on my own behalf, or as owner, manager, stockholder (other than as stockholder of less than 2% of the outstanding stock of a company that is publicly
traded or listed on a stock exchange), consultant, director, officer or employee of or in any other manner connected with any business entity, participate or be involved in any Competitor without the prior written authorization of SOHU.
“Competitor” means any business of the type and character of business in which SOHU engages or proposes to engage and may include, without limitation, an individual, company, enterprise, partnership enterprise, government office,
committee, social organization or other organization that, in any event, produces, distributes or provides the same or substantially similar kind of product or service as SOHU. On the date of this Employee Non-competition, Non-solicitation,
Confidential Information and Work Product Agreement (this “Agreement”), “Competitor” includes without limitation: Sina.com, QQ Tencent Holdings Limited, NetEase.com Inc., Perfect World Co., Giant Interactive Group Inc., Shanda
Games Limited, NetDragon Websoft Inc., Kingsoft Corporation Limited, The9 Limited, Beijing Guangyu Huaxia Technology Limited., You Ku, Tu Dou, Ku6, PC Online, SouFun, CRIC, SoSo, Baidu, Google, Yahoo! China, Yahoo! Inc., Microsoft/MSN, AOL,
Kongzhong.com, Xunlei, Taobao and 360. Such list may be updated by the Company from time to time so that it is consistent with the list of competitors disclosed in the Company’s quarterly report (10Q) or annual report (10K). 

2. Nonsolicitation. During the Noncompete Period, I will not, either for my own account or for the account of any
other person: (i) solicit, induce, attempt to hire, or hire any employee or contractor of SOHU or any other person who may have been employed or engaged by SOHU during the term of my employment with SOHU unless that person has not worked with
SOHU within the six months following my last day of employment with SOHU; (ii) solicit business or relationship in competition with SOHU from any of SOHU’s customers, suppliers or partners or any other entity with which SOHU does business;
(iii) assist in such hiring or solicitation by any other person or business entity or encourage any such employee to terminate his or her employment with SOHU; or (iv) encourage any such customer, supplier or partner or any other entity to
terminate its relationship with SOHU. 
  

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 3. Confidential Information. 

(a) While employed by SOHU and indefinitely thereafter, I will not, directly or indirectly, use any Confidential
Information (as hereinafter defined) other than pursuant to my employment by and for the benefit of SOHU, or disclose any such Confidential Information to anyone outside of SOHU or to anyone within SOHU who has not been authorized to receive such
information, except as directed in writing by an authorized representative of SOHU. 
 (b) “Confidential
Information” means all trade secrets, proprietary information, and other data and information, in any form, belonging to SOHU or any of their respective clients, customers, consultants, licensees or affiliates that is held in confidence by
SOHU. Confidential Information includes, but is not limited to computer software, the structure of SOHU’s online directories and search engines, business plans and arrangements, customer lists, marketing materials, financial information,
research, and any other information identified or treated as confidential by SOHU or any of their respective clients, customer, consultants, licensees or affiliates. Notwithstanding the foregoing, Confidential Information does not include
information which SOHU has voluntarily disclosed to the public without restriction, or which is otherwise known to the public at large. 

4. Rights in Work Product. 

(a) I agree that all Work Product (as hereinafter defined) will be the sole property of SOHU. I agree that all Work
Product that constitutes original works of authorship protectable by copyright are “works made for hire,” as that term is defined in the United States Copyright Act and, therefore, the property of SOHU. I agree to waive, and hereby waive
and irrevocably and exclusively assign to SOHU, all right, title and interest I may have in or to any other Work Product and, to the extent that such rights may not be waived or assigned, I agree not to assert such rights against SOHU or its
licensees (and sublicensees), successors or assigns. 
 (b) I agree to promptly disclose all Work Product to the
appropriate individuals in SOHU as such Work Product is created in accordance with the requirements of my job and as directed by SOHU. 

(c) “Work Product” means any and all inventions, improvements, developments, concepts, ideas, expressions,
processes, prototypes, plans, drawings, designs, models, formulations, specifications, methods, techniques, shop-practices, discoveries, innovations, creations, technologies, formulas, algorithms, data, computer databases, reports, laboratory
notebooks, papers, writings, photographs, source and object codes, software programs, other works of authorship, and know-how and show-how, or parts thereof conceived, developed, or otherwise made by me alone or jointly with others (i) during
the period of my employment with SOHU or (ii) during the six month period next succeeding the termination of my employment with SOHU if the same in any way relates to the present or proposed products, programs or services of SOHU or to tasks
assigned to me during the course of my employment, whether or not patentable or subject to copyright or trademark protection, whether or not reduced to tangible form or reduced to practice, whether or not made during my regular working hours, and
whether or not made on SOHU premises. 
  

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 5. Employee’s Prior Obligations. I hereby certify I have no
continuing obligation to any previous employer or other person or entity which requires me not to disclose any information to SOHU. 

6. Employee’s Obligation to Cooperate. At any time during my employment with SOHU and thereafter upon the
request or SOHU, I will execute all documents and perform all lawful acts that SOHU considers necessary or advisable to secure its rights hereunder and to carry out the intent of this Agreement. Without limiting the generality of the foregoing, I
agree to render to SOHU or its nominee all reasonable assistance as may be required: 
  

	 	(a)	 In the prosecution or applications for letters patent, foreign and domestic, or re-issues, extensions and continuations thereof;

  

	 	(b)	 In the prosecution or defense of interferences which may be declared involving any of said applications or patents; 

 

	 	(c)	 In any administrative proceeding or litigation in which SOHU may be involved relating to any Work Product; and 

 

	 	(d)	 In the execution of documents and the taking of all other lawful acts which SOHU considers necessary or advisable in creating and protecting its
copyright, patent, trademark, trade secret and other proprietary rights in any Work Product. 

 The reasonable
out-of-pocket expenses incurred by me in rendering such assistance at the request of SOHU will be reimbursed by SOHU. If I am no longer an employee of SOHU at the time I render such assistance, SOHU will pay me a reasonable fee for my time.

 7. Termination; Return of SOHU Property. Upon the termination of my employment with SOHU for any
reason, or at any time upon SOHU’s request, I will return to SOHU all Work Product and Confidential Information and notes, memoranda, records, customer lists, proposals, business plans and other documents, computer software, materials, tools,
equipment and other property in my possession or under my control, relating to any work done for SOHU, or otherwise belonging to SOHU, it being acknowledged that all such items are the sole property of SOHU. Further, before obtaining my final
paycheck, I agree to sign a certificate stating the following: 
 “Termination Certificate 

This is to certify that I do not have in my possession or custody, nor have I failed to return, any Work Product (as
defined in the Employee Non-competition, Non-solicitation, Confidential Information and Work Product Agreement between me and Sohu.com Inc. (“SOHU”)) or any notes, memoranda, records, customer lists, proposals, business plans or other
documents or any computer software, materials, tools, equipment or other property (or copies of any of the foregoing) belonging to SOHU.” 
  

 -15- 

 8. General Provisions. 

(a) This Agreement contains the entire agreement between me and SOHU with respect to the subject matter hereof and
supersedes all prior and contemporaneous agreements and understandings related to the subject matter hereof, whether written or oral. This Agreement may not be modified except by written agreement signed by SOHU and me. 

(b) This Agreement will be governed by and construed and enforced in accordance with the laws of the State of New York if
the Employee is not a citizen of the People’s Republic of China (the “PRC”), and in accordance with the laws of the PRC if the Employee is a citizen of the PRC, in each case exclusive of such jurisdiction’s principles of
conflicts of law. If, under the applicable law, any portion of this Agreement is at any time deemed to be in conflict with any applicable statute, rule, regulation or ordinance, such portion will be deemed to be modified or altered to conform
thereto or, if that is not possible, to be omitted from this Agreement; the invalidity of any such portion will not affect the force, effect and validity of the remaining portion hereof. Each of the parties hereto irrevocably (i) agrees that
any dispute or controversy arising out of, relating to, or concerning any interpretation, construction, performance or breach of this Agreement, shall be settled by arbitration to be held in Hong Kong under the UNCITRAL Arbitration Rules in
accordance with the HKIAC Procedures for the Administration of International Arbitration in force at the date of this Agreement (the “Arbitration Rules”), (ii) waives, to the fullest extent it may effectively do so, any
objection which it may now or hereafter have to the laying of venue of any such arbitration, and (iii) submits to the exclusive jurisdiction of Hong Kong in any such arbitration. There shall be one arbitrator, selected in accordance with the
Arbitration Rules. The decision of the arbitrator shall be final, conclusive and binding on the parties to the arbitration. Judgment may be entered on the arbitrator’s decision in any court having jurisdiction. The parties to the arbitration
shall each pay an equal share of the costs and expenses of such arbitration, and each party shall separately pay for its respective counsel fees and expenses; provided, however, that the prevailing party in any such arbitration shall be entitled to
recover from the non-prevailing party its reasonable costs and attorney fees. 
 (c) In the event that any
provision of this Agreement is determined by any court of competent jurisdiction to be unenforceable by reason of its extending for too great a period of time, over too large a geographic area, over too great a range of activities, it will be
interpreted to extend only over the maximum period of time, geographic area or range of activities as to which it may be enforceable. 

(d) If, after application of paragraph (c) above, any provision of this Agreement will be determined to be invalid,
illegal or otherwise unenforceable by any court of competent jurisdiction, the validity, legality and enforceability of the other provisions of this Agreement will not be affected thereby. Any invalid, illegal or unenforceable provision of this
Agreement will be severed, and after any such severance, all other provisions hereof will remain in full force and effect. 

(e) SOHU and I agree that either of us may waive or fail to enforce violations of any part of this Agreement without
waiving the right in the future to insist on strict compliance with all or parts of this Agreement. 
  

 -16- 

 (f) My obligations under this Agreement will survive the termination of my
employment with SOHU regardless of the manner of or reasons for such termination, and regardless of whether such termination constitutes a breach of any other agreement I may have with SOHU. My obligations under this Agreement will be binding upon
my heirs, executors and administrators, and the provisions of this Agreement will inure to the benefit of the successors and assigns of SOHU. 

(g) I agree and acknowledge that the rights and obligations set forth in this Agreement are of a unique and special
nature and necessary to ensure the preservation, protection and continuity of SOHU’s business, employees, Confidential Information, and intellectual property rights. Accordingly, SOHU is without an adequate legal remedy in the event of my
violation of any of the covenants set forth in this Agreement. I agree, therefore, that, in addition to all other rights and remedies, at law or in equity or otherwise, that may be available to SOHU, each of the covenants made by me under this
Agreement shall be enforceable by injunction, specific performance or other equitable relief, without any requirement that SOHU have to post a bond or that SOHU have to prove any damages. 

 

 -17- 

 IN WITNESS WHEREOF, the undersigned employee and SOHU have executed this
Employee Non-competition, Non-solicitation, Confidential Information and Work Product Agreement. 
 Effective as of
November 30, 2009. 
  

							
	 Signature of Employee:
	 		 	 Sohu.com Inc.

				
	  
	 		 	 By:
	 	  

	 Printed name of employee:
	 		 		 	 Name: Charles Zhang

	 Xiaochuan Wang
	 		 		 	 Title: Chief Executive Officer

  

 -18-Amended and Restated Marketing Services Agreement

 Exhibit 10.2 

AMENDED AND RESTATED MARKETING SERVICES AGREEMENT 

This Amended and Restated Marketing Services Agreement (the “Agreement”) is dated as of January 1, 2010,
by and between Changyou.com Limited, a Cayman Islands corporation (together with its subsidiaries and VIEs, “Changyou”)and Sohu.com Inc., a Delaware corporation (together with its subsidiaries and VIEs other those subsidiaries and VIEs
included in the definition of Changyou, “Sohu”). Sohu and Changyou are individually referred to as a “Party,” and together as the “Parties.” Capitalized terms used herein and not otherwise defined will have the meanings
ascribed to such terms in Article I hereof. 
 RECITALS 

WHEREAS, Sohu operates a leading Chinese web portal, Sohu.com; 

WHEREAS, Changyou develops, operates, and licenses MMORPGs (as defined below), as more completely described in a
Registration Statement on Form F-1 first filed publicly by Changyou with the U.S. Securities and Exchange Commission (the “SEC”) on March 17, 2009 (the “Filing Date”) (as so filed, and as amended thereafter from time to
time, the “IPO Registration Statement”); 
 WHEREAS, Changyou subsequently made an initial public
offering (“IPO”) pursuant to the IPO Registration Statement; 
 WHEREAS, Sohu controls the voting
power of the outstanding ordinary shares of Changyou; 
 WHEREAS, Sohu and Changyou have undertaken various
advertising and marketing efforts relating to their businesses in accordance with a Marketing Services Agreement dated as of January 1, 2009 (the Predecessor Agreement); 

WHEREAS, Sohu and Changyou wish to clarify, modify and redefine the terms and conditions of certain advertising and
marketing efforts known as the Specified Transactions (as defined below); and 
 WHEREAS, Sohu and Changyou
desire to clarify and modify the terms and conditions of the Predecessor Agreement and to continue their advertising and marketing efforts in accordance with the terms and conditions of this Agreement; 

 

 1 

 NOW, THEREFORE, in consideration of the foregoing and the terms, conditions,
covenants and provisions of this Agreement, and intending to be legally bound, Sohu and Changyou mutually covenant and agree as follows: 

ARTICLE I 

DEFINITIONS 

1.1 Defined Terms. The following capitalized terms have the meanings given to them in this Section 1.1:

 “Affiliate” means any entity that controls, is controlled by, or is under common control with a
Party. As used herein, “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such entity, whether through ownership of voting securities or other interests,
by contract or otherwise. Solely for purposes of this Agreement, however, Changyou and Sohu are deemed not to be Affiliates. 

“Agreement” means this Amended and Restated Marketing Services Agreement, as the same may be amended and
supplemented from time to time in accordance with the provisions hereof. 
 “Changyou” will have the
meaning set forth in the preamble to this Agreement. 
 “Changyou Business” means the development,
operation and licensing of client-end installed MMORPGs and other support services, as previously conducted by Sohu and as conducted and contemplated to be conducted by Changyou on a world-wide basis as of the date hereof and the date that the IPO
Registration Statement becomes effective under the U.S. Securities Act of 1933, as more fully described in the IPO Registration Statement. 

“Changyou MMORPGs” means MMORPGs that are owned, controlled or maintained by Changyou or its Affiliates.

 “Changyou Links” has the meaning set forth in Section 2.1(a) of this Agreement. 

“Changyou Websites” means all websites owned, controlled or maintained by Changyou. 

“Deliverables” has the meaning set forth in Section 7.1 of this Agreement. 

“IPO” has the meaning set forth in the preamble of this Agreement. 

“Inter-Company Agreements” has the meaning ascribed to it in the Master Transaction Agreement. 

“Filing Date” has the meaning set forth in the preamble of this Agreement. 

“Master Transaction Agreement” means the Master Transaction Agreement between the Parties dated as of
January 1, 2009, as the same may be amended from time to time. 
 “MMORPGs” means client-end
installed massively multi-player online role-playing games. 
 “SEC” has the meaning set forth in the
preamble to this Agreement. 
 “Securities Act” means the U.S. Securities Act of 1933, as amended.

  

 2 

 “Sohu” has the meaning set forth in the preamble to this
Agreement. 
 “Sohu Websites” means all websites owned, operated or controlled by Sohu, including,
without limitation, Sohu.com, Chinaren.com, and 17173.com, but not including Changyou Websites. 

“VIE” means a variable interest entity, as such term is defined for the purposes of generally accepted U.S.
accounting principles. 
 ARTICLE II 

LINKS AND ADVERTISING SERVICES 

2.1 Links and Advertising Services. 

(a) Links. Sohu will include at all times while this Agreement is in effect links (such links, collectively,
“Changyou Links”) to Changyou’s MMORPGs or to the Changyou.com homepage, on the Sohu.com homepage, in at least as prominent a location as Changyou Links are currently included. Exhibit I is a screenshot showing the two links that
Changyou is using as of the date of this Agreement. 
 (b) Advertising. At all times while this Agreement
is in effect, Sohu will provide to Changyou (1) the use of advertising space, and (2) access to certain advertising services. The use of advertising space and the provision of services are related to Changyou’s MMORPGs’
promotional activities in the areas of online advertisements, banners, buttons and other online advertising mediums. 
  

	 	(A)	 In particular, Sohu shall provide to Changyou the use of advertising space in certain Specified Transactions as follows (it is the intent of the
parties that such use will constitute a rental/licensing of the relevant advertising space from Sohu to Changyou): 

  

	 	(i)	 Sohu will provide Changyou with the exclusive use of specific space on the Sohu Websites for the display of banner ads, buttons, and other online
advertising mediums as specified in Sohu’s rate card concerning Changyou’s MMORPGs (the “Banner Ads”). In order to do so, Sohu will also provide Changyou with physical storage space and create a “virtual server” on
servers, for the Banner Ad files and give Changyou exclusive control and administration over such storage space via the use of separate login username and pass code, and other similar mechanisms. Such storage space shall be treated as leased to
Changyou. In addition, the Banner Ads will be served through a separate domain name specific to Changyou. Changyou personnel will design these Banner Ads and have complete and exclusive control over their content and format, subject only to Sohu
policies applicable to all advertisers. 

  

 3 

	 	(ii)	 Sohu will provide Changyou with the use of specific space on the Sohu Websites for the display of promotional articles concerning Changyou’s
MMORPGs (the “Soft Ads”). Changyou personnel will write these Soft Ads and have complete control over their content and format, subject only to Sohu policies applicable to all advertisers. 

 

	 	(B)	 Changyou will compensate Sohu separately for any incidental services that may be necessary in integrating the Banner Ads and Soft Ads into the Sohu
Websites, as well as any other similar incidental services needed in connection with the delivery and dissemination of such Banner Ads and Soft Ads. The determination of such service charges will be separate from the determination of the payments
for the use of advertising space for the Banner Ads and the Soft Ads. 

  

	 	(C)	 Changyou will compensate Sohu separately for the use of any other advertising space or incidental services related to advertising space not included
within the Specified Transactions as described above. 

 (c) By no later than January 31
of each year, Sohu and Changyou will discuss and agree on the number of Changyou links to be posted, the position of each Changyou Link and the annual quota for Changyou online advertisements, including the Banner Ads and Soft Ads (“Online
Advertisements”), on the Sohu Websites. The details of the Online Advertisements, such as the forms, position, period of display, and price, will be determined quarterly based on sales orders within the annual quota as agreed between Sohu and
Changyou. If, due to operational requirements, Sohu determines in its reasonable and sole discretion that it needs to make changes to the home page, catalogue pages or channels on the Sohu Websites, and such changes will result in changes to the
position and/or size of a Changyou Link and/or an Online Advertisement, then Sohu will notify Changyou in writing of its intended changes fifteen (15) days in advance of making such changes, specifying the revised position and size of the
Changyou Link and/or the Online Advertisements. Changyou will, within ten (10) days of receiving the aforementioned notice, confirm its understanding of the same in writing to Sohu. Sohu will make reasonable efforts to accommodate any
objections Changyou makes to such changes within such ten-day period, provided that Sohu will be under no obligation to make any such accommodation if Sohu determines, in its sole reasonable discretion, that such accommodation is not practicable. If
Changyou fails to reply to Sohu’s notice within the stipulated period, Changyou will be deemed to have accepted the changes. 

2.2 Compensation. 

(a) Links. In consideration of the rights granted to Changyou in this Section 2, Changyou will pay to Sohu,
within 30 days after the end of each calendar quarter, a fee of RMB800,000 for each Changyou link placed on the Sohu.com homepage, subject to Sohu’s providing to Changyou, by the end of each such quarter, an invoice and reasonably detailed
documentation. The amount of such fee will be increased (or decreased, as the case may be) effective each January 1 and July 1 in accordance with then-prevailing rates charged in the Peoples’ Republic of China for similar link
services between unrelated third parties, as reasonably agreed to by Sohu and Changyou. 
  

 4 

 (b) Advertising. In consideration of the use of the advertising space
on Sohu Websites and incidental services provided to Changyou under this Section 2, Changyou will pay Sohu three separate forms of compensation (together, the “Advertising Fee”): 

 

	 	(A)	 A fee for the use of advertising space in the Specified Transactions; 

 

	 	(B)	 A fee for any incidental services necessitated by the Specified Transactions; and 

 

	 	(C)	 A fee for any other Online Advertisements (exclusive of the Specified Transactions) and incidental services related to such Online Advertisements.

 The Advertising Fee will be charged at a discount off the publicly listed rates for advertisements on Sohu
Websites then in effect. The discount will be discussed and agreed to by the parties by January 31 of each year. The parties agree that the discount Sohu provides to Changyou will not be less favorable than any Sohu provides to any other third
party under similar circumstances. The Advertising Fee will be paid to Sohu within 30 days after the end of each calendar quarter, subject to Sohu’s providing to Changyou, by the end of each such quarter, an invoice and reasonably detailed
documentation. 
 2.3 Sohu Rejections. Sohu reserves the right to reject any Changyou Link that is not
reasonably consistent with Sohu’s standards, provided that Sohu notifies Changyou of the reason for rejection and accepts such Changyou Link if the reason for rejection is cured. 

ARTICLE III 

PROMOTION AND TECHNICAL SERVICES 

3.1 Identification as Part of Sohu Group and Use of Sohu Logo. Sohu grants to Changyou the non-exclusive right to
use, during the term of this Agreement, the phrase “Changyou.com is a member of the Sohu Group,” or a similar phrase approved by Sohu, and the Sohu logo, as the same may be in use by Sohu from time to time, in all Changyou Websites and in
all advertising and promotional materials, including in any Changyou-sponsored advertising. Changyou will pay to Sohu, within 30 days after the end of each calendar quarter, a fee of RMB 6,000,000 for such use of the Sohu logo by Changyou during the
quarter, subject to an invoice provided by Sohu. 
 3.2 Sohu Passport. Sohu will provide all technical
services necessary to enable the Changyou Websites to be accessed through Sohu Passport. In consideration of Sohu’s providing such services, Changyou will pay to Sohu, within 30 days after the end of each calendar quarter, a fee of RMB 12.5 for
each new Changyou registered MMORPG user obtained through Passport accounts, subject to Sohu’s providing to Changyou, by the end of each such quarter, an invoice and reasonably detailed documentation. The amount of such fee will be increased
(or decreased, as the case may be) effective each January 1 and July 1 in accordance with then-prevailing rates charged in the Peoples’ Republic of China for similar services between unrelated third parties, as reasonably agreed to by
Sohu and Changyou. 
  

 5 

 3.3 Sohu PEAK System. Sohu will make available to Changyou
Sohu’s PEAK system online payment platform, to allow Changyou MMORPG players to connect from their accounts directly to their payment accounts, to make direct online purchases of virtual prepaid cards or game points for Changyou’s MMORPGs.
For such services, Sohu will charge Changyou such amount as does not exceed the then prevailing rates charged by third parties for similar services, the Parties acknowledging that the amount payable to Sohu by Changyou as of the date of this
Agreement is 0.9% of the full face value (i.e., not reduced by any discount offered by Changyou to its customers), of the virtual prepaid cards or the full face value of the game points purchased, as applicable. Amounts charged by
Changyou to its customers will be collected by Sohu through its PEAK system and transferred to Changyou, less a 0.1% service charge, within 30 days after the end of each calendar quarter. 

3.4 Bulletin Board System (BBS). Sohu will build and maintain a BBS for each Changyou MMORPG, and will provide
“24/7” hosting and maintenance services for such BBS. In addition, Sohu will provide technical support to help Changyou to manage the BBS. In consideration of Sohu’s providing such services, Changyou will pay to Sohu, within 30 days
after the end of each calendar quarter, a fee of RMB100,000 for each BBS site used by Changyou. The parties acknowledge and agree that Sohu currently is operating three BBS sites for Changyou MMORPGs, as shown on Exhibit II to this Agreement. The
amount of the fee payable by Changyou to Sohu for such BBS sites and services will be increased (or decreased, as the case may be) effective each January 1 and July 1 in accordance with then-prevailing rates charged in the Peoples’
Republic of China for similar services between unrelated third parties, as reasonably agreed to by Sohu and Changyou. 

ARTICLE IV 

DOMAIN NAMES 

4.1 License. While this Agreement is in effect, Sohu grants to Changyou a license to: 

(a) any domain names that Sohu currently owns that at are used by Changyou in connection with Changyou MMORPGs or the
Changyou Websites (other than domain names that it has transferred or is required to transfer to Changyou or its Affiliates pursuant to the Master Transaction Agreement or the agreements referenced therein) (Exhibit III is a list of domain names
that Changyou is currently using), and 
 (b) the use of the word “sohu” in domain names that are
currently owned or used by Changyou or that Changyou may wish to own in the future, in each case limited to use by Changyou in connection with the development, operation, or promotion of its MMORPG business. 

4.2 For the use of such domain names, Changyou will pay to Sohu within 30 days after the end of each calendar quarter, a
fee of RMB 300,000 for each of domain name but no more than RMB 1,200,000 in total for up to nine domain names. The amount of such fee will be increased (or decreased, as the case may be) effective each January 1 and July 1 in accordance
with then-prevailing rates charged in the Peoples’ Republic of China for similar licenses between unrelated third parties, as reasonably agreed to by Sohu and Changyou. 

 

 6 

 ARTICLE V 

INTELLECTUAL PROPERTY 

5.1 Trademark License. Changyou retains all right, title and interest in and to the Changyou Websites, and
Changyou’s trademarks, service marks, trade names and logos worldwide. Changyou grants Sohu a non-exclusive limited-use license to use Changyou’s trademarks, service marks, trade names and logos only in connection with placing links to
Changyou urls to be provided to Sohu by Changyou, for performing its other advertising and promotional obligations to Changyou as set forth in this Agreement, and for joint promotions of the Sohu and Changyou brands. 

5.2 Ownership. Each Party owns and will retain all right, title and interest in its names, logos, trademarks and
service marks, copyrights and proprietary technology, including without limitation, those names, logos, trademarks and service marks, copyrights and proprietary technology currently used or any which may be developed in the future. Neither Party
will copy, distribute, reproduce or use the other Party’s names, logos, trademarks and service marks, copyrights and proprietary technology except as expressly permitted under this Agreement. 

ARTICLE VI 

TERM 

6.1 Termination. This Agreement may be terminated or amended by mutual written consent of the Parties. In
addition, this Agreement will terminate upon the later of: 
 (c) the date that is three years after the first
date upon which Sohu ceases to own in the aggregate at least ten percent (10%) of the voting power of the then outstanding securities of Changyou; and 

(d) the fifth anniversary of the date of the Filing Date. 

Unless otherwise agreed to by the Parties in writing, the provisions of Article 5 and Articles 7 through 9 will survive
indefinitely after the termination of this Agreement. 
 ARTICLE VII 

LIMITATION OF LIABILITY 

7.1 No Warranty. Except as expressly stated in this Agreement, all materials, documents, advertising, and services
delivered under this agreement (“Deliverables”) are provided “as is.” Except as expressly stated in this agreement, neither party makes any representations or warranties of any kind concerning the Deliverables, express or
implied, including, without limitation, warranties of merchantability, fitness for a particular purpose, non-infringement, or the absence of latent or other defects, whether or not discoverable. Neither Party extends any warranties of any
kind as to their content and/or websites being error free. 
  

 7 

 7.2 Limitation of Damages. In no event will either Party, or their
directors, officers, agents, employees or affiliates, be liable for incidental, special or consequential damages of any kind, including economic damages or injury to property and lost profits, under any theory of law, regardless of whether such
Party is advised, has other reason to know, or in fact does know of the possibility of the foregoing. 
 ARTICLE VIII 

 INDEMNITIES 

8.1 Intellectual Property. Each Party (“Indemnifying Party”) will indemnify, defend and hold harmless
the other Party, and its subsidiaries and variable interest entities (except that, for purposed of this Article VIII, Sohu.com Inc. subsidiaries and variable interest entities will not include Changyou and its subsidiaries and variable interest
entity), and their respective directors, officers, employees and agents (“Indemnitees”), against any and all claims, actions, liabilities, losses, and expenses (including reasonable attorneys’ fees) brought by a third party relating
to or arising out of any claim that any content provided by such Indemnifying Party and displayed on the Changyou Websites or the Sohu Websites constitutes a defamation or invasion of the right of privacy or publicity, or infringement of the
copyright, trademark or other intellectual property right, of any third party. This indemnity will specifically not apply to content provided by visitors to the Changyou Websites or Sohu Websites, including, but not limited to, such visitors who use
chat rooms, bulletin boards, or other forums that allow visitors to display material that is not within the control of the Indemnifying Party. 

8.2 Procedure. The Indemnitee will promptly provide the Indemnifying Party with written notice of any claim which
the Indemnitee believes falls within the scope of this Section 8; provided, however, that, except to the extent the Indemnifying Party is actually prejudiced by the Indemnitee’s failure to provide such prompt notice, such failure to
provide prompt notice hereunder will not limit the Indemnitee’s rights under this Section 8. The Indemnitee may, at its own expense, assist in the defense of any such claim if it so chooses, provided that the Indemnifying Party will
control such defense and all negotiations relative to the settlement of any such claim. 
 ARTICLE IX 

MISCELLANEOUS 

9.1 Consent. No consent or approval of either Party pursuant to this Agreement will be effective unless it is in
writing and evidenced by the signature of the Chief Executive Officer or Chief Financial Officer of the consenting or approving Party (or such other person that the Chief Executive Officer or Chief Financial Officer has specifically authorized in
writing to give such consent or approval). 
 9.2 Entire Agreement. This Agreement constitutes the entire
agreement between the Parties with respect to the subject matter hereof and will supersede all prior written and oral and all contemporaneous oral agreements and understandings with respect to the subject matter hereof. 

 

 8 

 9.3 Governing Law and Jurisdiction. This Agreement, including the
validity hereof and the rights and obligations of the Parties hereunder, will be construed in accordance with and all disputes hereunder will be governed by the laws of the State of New York, U.S.A., applicable to contracts made and to be performed
entirely in such state (without giving effect to the conflicts of laws provisions thereof). Each of the Parties hereby submits unconditionally to jurisdiction of, and agrees that venue will lie exclusively in, the federal and state courts located in
the City of New York for purposes of the resolution of any disputes arising under this Agreement. 
 9.4
Amendment. This Agreement may be amended only by mutual written consent of the Parties. 
 9.5
Notices. Notices and other communications to be given by any Party pursuant to the terms of this Agreement will be given in writing to the respective Parties to the following addresses: 

if to Sohu: 

Level 12, Sohu.com Internet Plaza 

No. 1 Unit Zhongguancun East Road, Haidian District 

Beijing 100084 

People’s Republic of China 

Attention: Chief Financial Officer 

Email: carol@sohu-inc.com 

if to Changyou: 

East Tower, JinYan Hotel 

No. 29 Shijingshan road, Shijingshan 

Beijing 100043 

People’s Republic of China 

Attention: Chief Financial Officer 

Email: alex@sohu-inc.com 

or to such other address or email address as the Party to whom notice is given may have previously furnished to the other in writing as
provided herein. Any notice involving non-performance or termination will be sent by hand delivery or recognized overnight courier. All other notices may also be sent by email, confirmed by mail. All notices will be deemed to have been given when
received, if hand delivered; when transmitted, if transmitted by email; upon confirmation of delivery, if sent by recognized overnight courier; and upon receipt if mailed. 

9.6 Counterparts. This Agreement may be executed in counterparts, each of which will be deemed to be an original
but all of which will constitute one and the same agreement. 
  

 9 

 9.7 Binding Effect; Assignment. This Agreement will inure to the
benefit of and be binding upon the Parties hereto and their respective legal representatives and successors, and nothing in this Agreement, express or implied, is intended to confer upon any other person any rights or remedies of any nature
whatsoever under or by reason of this Agreement. No Party may assign this Agreement or any rights or obligations hereunder, without the prior written consent of the other Party, and any such assignment without such consent will be void; provided,
however, each Party may assign this Agreement to a successor entity in conjunction with the transfer of substantially all of the Party’s business, whether by sale of substantially all assets, merger, consolidation or otherwise. 

9.8 Severability. If any term or other provision of this Agreement is determined by a court, administrative agency
or arbitrator to be invalid, illegal or incapable of being enforced by any rule of law or public policy, all other conditions and provisions of this Agreement will nevertheless remain in full force and effect so long as the economic or legal
substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties hereto will
negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner to the end that transactions contemplated hereby are fulfilled to the fullest extent possible.

 9.9 Failure or Indulgence not Waiver; Remedies Cumulative. No failure or delay on the part of any
Party in the exercise of any right hereunder will impair such right or be construed to be a waiver of, or acquiescence in, any breach of any representation, warranty or agreement herein, nor will any single or partial exercise of any such right
preclude other or further exercise thereof or of any other right. All rights and remedies existing under this Agreement are cumulative to, and not exclusive of, any rights or remedies otherwise available. 

9.10 Interpretation. The headings contained in this Agreement are for reference purposes only and will not affect
in any way the meaning or interpretation of this Agreement. None of the provisions of this Agreement are intended to supersede any provision in any other Inter-Company Agreement or any other agreement with respect to the respective subject matters
thereof. 
 [Signatures on Next Page] 
  

 10 

 WHEREFORE, the Parties have signed this Marketing Services Agreement
effective as of the date first set forth above. 
  

			
	SOHU.COM INC.
		
	 By:
	 	  

		 	 Name

		 	 Title:

	
	CHANGYOU.COM LIMITED
		
	 By:
	 	  

		 	 Name

		 	 Title:

  

 11 

 Exhibit I: 

Links Currently Used by Changyou 

 

 

  

 12 

 Exhibit II: 

BBS Sites Used by Changyou as of the Date of Agreement 

 

 

  

 13 

 

 

  

 14 

 

 

  

 15 

 Exhibit III 

Domain Names Used by Changyou as of The Date of The Agreement 
  

	•	 	 tl.sohu.com 

  

	•	 	 ldj.sohu.com 

  

	•	 	 bo.sohu.com 

  

	•	 	 blade.sohu.com 

  

 16

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