Document:

Exhibit 10.24

 

NOVATION AGREEMENT

 

This Novation Agreement (“Agreement”) is made on May 1, 2009.

 

BETWEEN

 

·                  Google Ireland Limited (“Google”), a corporation formed under the laws of Ireland and having address of Gordon House, Barrow Street, Dublin 4, Ireland:

 

·                  Beijing Qihoo Technology Co., Ltd. (“Substituted Party”), a corporation formed under the laws of P.R. China and having address of Building D1, Huitong Office Plaza, No.71 JianGuo Road, Chaoyang District, Beijing , 100025 P.R. China; and.

 

·                  Qizhi Software (Beijing) Co., Ltd. (“Substituting Party”), a corporation formed under the laws of P.R. China and having address of Building C401, Huitong Office Plaza, No.71 JianGuo Road, Chaoyang District, Beijing , 100025 P.R. China.

 

WHEREAS,

 

1.               Substituting Party will replace Substituted Party as the party to the Google Linking Agreement dated December 1, 2008 by and between Google and Substituted Party (“Original Agreement”); and

 

2.               Google, Substituted Party and Substituting Party have agreed to enter into this Agreement for the substitution of the Substituted Party for Substituting Party as a party to the Original Agreement on the terms and conditions herein contained.

 

NOW THEREFORE, Google, Substituting Party and Substituted Party agree as follows:

 

1.                                      DEFINITIONS AND INTERPRETATION

 

1.1                               In this Agreement unless the context otherwise requires.

 

Claim means any claim, notice, demand, action, proceeding, litigation, investigation or judgement whether based in contract, tort, statute or otherwise.

 

Effective Date  means the date of May 1, 2009.

 

Liabilities means all liabilities (whether present, unascertained, actual, contingent or prospective), losses, damages, outgoings, costs and expenses of whatever description.

 

2.                                      NOVATION

 

In consideration of the restructuring of Substituted Party and Substituting Party and assets transfer from Substituted Party to Substituting Party and the consent of the Substituting Party to the assumption by the Substituting Party of all  of Substituted Party’s obligations whatsoever under the Original Agreement:

 

(a)                                  subject to clauses 2(b) and (c) below, Substituting Party shall replace the Substituted Party as a party to the Original Agreement .and undertakes to perform all the terms and conditions of the Original Agreement as from Effective Date of this Agreement, and shall be entitled to all rights and benefit thereof and shall bear all liabilities thereto as from Effective Date of this Agreement;

 

(b)                                 Substituted Party is released and discharged by Google from all obligations, Claims and Liabilities of any nature which arise under the Original Agreement relating to acts or omissions of the Substituting Party which occur after Effective Date of this Agreement: and

 

(c)                                  Substituted Party shall not be released, relieved or discharged from Liability for, and the Substituting Party shall not assume any Liability for, any fees accrued or amounts or obligations due under the Original Agreement before Effective Date or for any breach which Substituted Party may have committed prior to Effective Date.

 

1

 

3.                                      AFFIRMATION OF THE ORIGINAL AGREEMENT

 

3.1                               The Original Agreement shall be read and construed that subject to this Agreement and in all other respects the provisions of the Original Agreement are hereby ratified and confirmed and subject to the variation and novation contained herein the Original Agreement shall continue in full force and effect.

 

4.                                      REPRESENTATIONS AND WARRANTIES

 

4.1                               Each of the parties hereto represents and warrants to each other party that:

 

a)                                      It is duly organized and validly existing under the laws of its place of incorporation;

 

b)                                     it has the power to own its property and assets and carry on its business as stipulated in Original Agreement and this Agreement as it is now being conducted;

 

c)                                      It has the power to enter into and perform this Agreement and the transactions contemplated thereby and has taken all necessary action to authorize the entry into and performance of this Agreement and the transactions contemplated thereby; and

 

d)                                     This Agreement has been duly executed and delivered by it and constitutes (or will upon execution and delivery constitute) legal, valid and binding obligations of the parties hereto enforceable in accordance with their respective terms and this Agreement is in proper form for its enforcement in the relevant courts.

 

4.2                               Substituted Party represents and warrants that it and its affiliates other than Substituting Party will not enter into any agreement same as or substantially similar to the Original Agreement with any third party as of the Effective Date.

 

5.                                      METHODS OF PAYMENT

 

Any payment due to Substituting Party (if by wire transfer) shall be made pursuant to the wire transfer instruction as listed below:

 

Customer Wire Transfer Information:

	
Bank Name:
    	
CHINA MERCHANTS BANK, BEIJINGBRANCH,   JIANGUOLU SUB-BRANCH
    
	
 
    	
 
    
	
Bank address:
    	
ZHAOSHANGJU PLAZA R2, NO.116 JIANGUO ROAD,   CHAOYANG DISTRICT, BEIJING, P.R.CHINA
    
	
 
    	
 
    
	
Account No.:
    	
[****]*
    
	
Account Name:
    	
Qizhi Software (Beijing) Co., Ltd.
    
	
SWIFT Code:
    	
CMBC CNBS 201.
    

 

6.                                      NOTICES

 

All notices if sent to  Substituting Party shall be sent to the following address:

	
Customer:
    	
Qizhi Software (Beijing) Co., Ltd.
    
	
Attn:
    	
Cheng Lu
    
	
Address:
    	
Building C401, Huitong Office Plaza, No.71   JianGuo Road, Chaoyang District, Beijing, 100025 P.R. China
    

 

7.                                      GOVERNING LAW AND ARBITRATION

 

The governing law and arbitration of this Agreement shall adopt the same corresponding clauses under the Original Agreement.

 

* This portion of Exhibit 10.24 has been omitted and filed separately with the Securities and Exchange Commission, pursuant to Rule 406 under the Securities Act of 1933, as amended.

 

2

 

IN WITNESS WHEREOF, the parties have executed this Agreement by persons duly authorized as of the Effective Date.  This Agreement may be executed in counterparts, including facsimile counterparts, each of which shall be deemed an original, and all of which, when taken together, shall constitute one and the same instrument.

 

 

	
Google Ireland Ltd.
    	
 
    	
Beijing Qihoo Technology Co., Ltd
    	
 
    	
Qizhi Software (Beijing) Co., Ltd.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
By:
    	
/s/ Ronan Harris
    	
 
    	
By: :
    	
/s/ Xiangdong Qi
    	
 
    	
By: :
    	
/s/ Hongyi Zhou
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Print Name: Ronan Harris
    	
 
    	
Print Name: Xiangdong Qi
    	
 
    	
Print Name: Hongyi Zhou
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Title: Director
    	
 
    	
Title:
    	
 
    	
Title:
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Date: 7 May, 2009
    	
 
    	
Date: May 1, 2009
    	
 
    	
Date: May 1, 2009
    

 

3Exhibit 10.25

 

Amendment One

to

Google Linking Agreement

 

This Amendment One to Google Linking Agreement (the “Amendment One”) is entered into by and between Google Ireland Limited, a company formed under the laws of Ireland (“Google”) and Qizhi Software (Beijing) Co., Ltd., a company formed under the laws of People’s Republic of China (“Customer”).  This Amendment One shall be effective as of July 1, 2009 (the “Amendment One Effective Date”).  Capitalized terms not otherwise defined herein shall have their meanings as set forth in the Agreement (as defined below).

 

WHEREAS, Google and Beijing Qihoo Technology Co., Ltd. entered into Google Linking Agreement effective as of December 1, 2008 (the “Agreement”), Google, Beijing Qihoo Technology Co., Ltd. and Customer entered Novation Agreement effective as of May 1, 2009 (“Novation Agreement”) pursuant to which Google provide services to Customer; and

 

WHEREAS, Google and Customer desire to amend certain terms in the Agreement; and

 

NOW, THEREFORE, in consideration of the mutual promises contained herein, the parties mutually agree as follows:

 

1.             The following payment clause shall apply in lieu of Section 9.1 in the Agreement and apply to the Term beginning from July 1, 2009:

 

9.1          Payment.  Subject to the terms and conditions of this Agreement, for each month beginning from July 1, 2009, Customer shall be entitled to receive US$[****]* per thousand Referral Traffic Queries for the first [****]* ([****]*) Referral Traffic Queries, up to a maximum of [****]* ([****]*) Referral Traffic Queries (the “Query Cap”) per month.  Google retains the right to raise the Query Cap at any time during the term of this Agreement by up to 500% of the Query Cap as of the Effective Date.  If the number of Referral Traffic Queries for a month exceeds the Query Cap and Google does not raise the Query Cap, Customer may terminate this Agreement by thirty (30) days prior written notice to Google.  Google’s obligation to make payments under this Section shall not commence until Google’s technical personnel provide written approval of Customer’s implementation of the WebSearch Service and WebSearch Box(es) on each Customized Browser Site or Approved Client Application, which shall not be unreasonably withheld or delayed.  Payments required under this paragraph shall be made in U.S. Dollars only and by the last day of the calendar month following the calendar month in which the Referral Traffic Queries are sent to Google.

 

2.             General Provisions.  Except as expressly amended by this Amendment One, the Agreement, as amended, is in all respects ratified, confirmed and approved and all terms, provisions and conditions set forth in the Amendment One shall be and remain in full force and effect.  The failure of either party to enforce at any time or for any period of time, any provision of the Agreement or this Amendment One shall not be construed as a waiver of such provision or of the right of such party thereafter to enforce such provision.  In the event of any conflict between the meaning of the terms and conditions of the Agreement and this Amendment One, the terms and conditions set forth in this Amendment One shall govern.  This Amendment One constitutes part and parcel of the Agreement and shall be construed as part of the context of the Agreement.

 

Google Confidential

 

* This portion of Exhibit 10.25 has been omitted and filed separately with the Securities and Exchange Commission, pursuant to Rule 406 under the Securities Act of 1933, as amended.

 

 

IN WITNESS WHEREOF, the parties have executed this Amendment One by persons duly authorized as of the Amendment One Effective Date.  This Amendment One may be executed in counterparts, including facsimile counterparts, each of which shall be deemed an original, and all of which, when taken together, shall constitute one and the same instrument.

 

	
Google: Google Ireland Limited
    	
 
    	
Qizhi Software (Beijing) Co., Ltd.
    
	
 
    	
 
    	
 
    
	
By: 
    	
/s/ John Herlhy
    	
 
    	
By: 
    	
/s/ Hongyi Zhou
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Print Name: 
    	
John Herlhy
    	
 
    	
Print Name:
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Title: 
    	
Director
    	
 
    	
Title: 
    	
CEO
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Date: 
    	
30 June, 2009
    	
 
    	
Date: 
    	
30 June, 2009

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