Document:

EX-4.30

 Exhibit 4.30 

This document is a translation of the original text in Chinese 

AMENDED AND RESTATED EQUITY PLEDGE AGREEMENT 

This Amended and Restated Equity Pledge Agreement (this “Agreement”) is entered into in Beijing, PRC by the following parties on December 22, 2015:

 Pledgee: 
 Party A: Baidu Online Network Technology
(Beijing) Co., Ltd. 
 Legal Address: 3/F., Baidu Building, No. 10 Shangdi 10th Street, Haidian District, Beijing 

Pledgor: 
 Party B: Zhixiang Liang 

WHEREAS, 
 1. Party A (the “Pledgee”), a wholly
foreign-owned enterprise registered in Beijing, the People’s Republic of China (the “PRC”), and 
 2. Party B (the “Pledgor”), is a
citizen of the PRC. The Pledgor owns 9% of the equity interest in Beijing BaiduPay Science and Technology Co., Ltd. (the “Company”), a limited liability company registered in Beijing, PRC (the “Company”). 

3. Party A made a loan in an amount of RMB 90,000,000 (hereinafter the “Loan”) to Party B and the parties executed an amended and restated loan
agreement (the “Loan Agreement”) on December 22, 2015. 
 4. Party A and the Company entered into an Exclusive Technology Consulting and Services
Agreement (the “Services Agreement”) on February 28, 2008, the term of which will continue indefinitely. According to the Services Agreement, the Company shall pay fees relating to the technology consulting and services (the “Service
Fees”) provided by Party A. 
 5. In order to ensure that Party B will perform its obligations under the Loan Agreement and Party A will be able to
collect Service Fees from the Company, the Pledgor agrees to pledge all his equity interest in the Company as security for the performance of his obligations under the Loan Agreement and for the Service Fees. 

NOW THEREFORE, the Pledgee and the Pledgor through friendly negotiations hereby enter into this Agreement based upon the following terms: 

 1. Definitions and Interpretation 

Unless otherwise provided in this Agreement, the following terms shall have the following meanings: 

1.1 “Pledge”: refers to the full content of Article 2 hereunder. 

1.2 “Equity Interest”: refers to all of the equity interest in the Company legally held by the Pledgor. 

1.3 “Rate of Pledge”: refers to the ratio between the value of the Pledge under this Agreement and the total amount of the Service Fees and the
Loan. 
 1.4 “Term of Pledge”: refers to the period provided for under Article 3.2 hereunder. 

1.5 “Principal Agreement”: refers to the Services Agreement and the Loan Agreement. 

1.6 “Event of Default”: refers to any event listed in Article 7.1 hereunder. 

1.7 “Notice of Default”: refers to the notice of default issued by the Pledgee in accordance with this Agreement. 

2. Pledge 
 The Pledgor agrees to pledge his Equity Interest in
the Company to the Pledgee as security for (i) his obligations under the Loan Agreement and (ii) the Company’s obligations under the Services Agreement. The term “Pledge” under this Agreement refers to the right of the Pledgee to be
entitled to priority in receiving payment in the form of the Equity Interest based on the conversion value thereof, or from the proceeds from the auction or sale of the Equity Interest pledged by the Pledgor to the Pledgee. 

3. Rate of Pledge and Term of Pledge 
 3.1 The rate of the Pledge

 The rate of the Pledge shall be approximately 100%. 
 3.2
The term of the Pledge 
 3.2.1 The Pledge shall take effect as of the date when the pledge of the Equity Interest is recorded in the Register of
Shareholders of the Company and when the pledge is registered with the Administration for Industry and Commerce and shall remain in effect until two (2) years after the obligations under the Principal Agreement will have been fulfilled. 

3.2.2 During the term of the Pledge, the Pledgee shall be entitled to dispose of the pledged assets in accordance with this Agreement in the event that the
Pledgor does not perform his obligations under the Loan Agreement or the Company does not perform his obligations under the Services Agreement. 

  
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 4. Physical Possession of Documents 

4.1 During the term of the Pledge under this Agreement, the Pledgor shall deliver the physical possession of his Certificate of Capital Contribution and the
Register of Shareholders of the Company to the Pledgee within one (1) week from the execution date of this Agreement. 
 4.2 The Pledgee shall be entitled
to collect the dividends for the Equity Interest. 
 4.3 The Pledge under this Agreement will be recorded in the Register of Shareholders of the Company
(See Appendix I). 
 5. Representation and Warranty of the Pledgor 

5.1 The Pledgor is the legal owner of the Equity Interest pledged and the Pledge is officially passed on the Shareholders’ Resolutions (See Appendix II).

 5.2 Except for the benefit of the Pledgee, the Pledgor has not pledged the Equity Interest or created other encumbrance on the Equity Interest. 

6. Covenants of the Pledgor 
 6.1 During the term of this
Agreement, the Pledgor covenants to the Pledgee for its benefit that the Pledgor shall: 
 6.1.1 Not transfer or assign the Equity Interest, create or
permit the existence of any other pledges which may have an adverse effect on the rights or benefits of the Pledgee without prior written consent of the Pledgee; 

6.1.2 Comply with laws and regulations with respect to the pledge of rights; present to the Pledgee the notices, orders or suggestions with respect to the
Pledge issued or made by relevant government authorities within five (5) days upon receiving such notices, orders or suggestions; comply with such notices, orders or suggestions or, alternatively, at the reasonable request of the Pledgee or with
consent from the Pledgee, raise objection to such notices, orders or suggestions; 
 6.1.3 Timely notify the Pledgee of any events or any notices received
which may affect the Pledgor’s right to all or any part of the Equity Interest, and any events or any received notices which may change the Pledgor’s warranties and obligations under this Agreement or affect the Pledgor’s performance
of its obligations under this Agreement. 
 6.2 The Pledgor agrees that the Pledgee’s right to the Pledge obtained from this Agreement shall not be
suspended or inhibited by any legal procedure initiated by the Pledgor or any successors of the Pledgor or any person authorized by the Pledgor or any other person. 

  
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 6.3 The Pledgor promises to the Pledgee that in order to protect or perfect the security for the payment of the
Loan and the Services Fees, the Pledgor shall execute in good faith and cause other parties who have interests in the Pledge to execute, all title certificates and contracts or to perform any other actions (and cause other parties who have interests
to take action) as required by the Pledgee and make access to exercise the rights and authorization vested in the Pledgee under this Agreement. 
 6.4 The
Pledgor promises to the Pledgee that he/she will execute all amendment documents (if applicable and necessary) in connection with the certificate of the Equity Interest with the Pledgee or its designated person (being a natural person or a legal
entity) and, within a reasonable period, provide to the Pledgee all notices, orders and decisions about the Pledge as the Pledgee deems necessary. 
 6.5
The Pledgor promises to the Pledgee that he/she will comply with and perform all the guarantees, covenants, warranties, representations and conditions for the benefit of the Pledgee. The Pledgor shall compensate the Pledgee for all losses suffered
by the Pledgee because of the Pledgor’s failure to perform in whole or in part its guarantees, covenants, warranties, representations and conditions. 

6.6 During the term of this Agreement, the Pledgor will not perform any action/non-action which may affect the value of the Equity Interest to maintain or
increase the value. The Pledgor shall timely notify the Pledgee of any events which may affect the value decrease of the Equity Interest or the obligations under this Agreement, and shall provide security satisfactory to the Pledgee of the decreased
value of the Equity Interest upon the Pledgee’s request. 
 6.7 Under the permission of the applied laws or regulations, the Pledgor shall use his/her
best efforts to cooperate with all the registration, record or other procedures relating to the Pledge. 
 7. Event of Default 

7.1 The following events shall be regarded as events of default: 

7.1.1 Pledgor fails to perform his obligations under the Loan Agreement; 

7.1.2 The Company fails to pay the Services Fees in due course in full amount or perform other obligations under the Services Agreement; 

7.1.3 Any representation or warranty made by the Pledgor in Article 5 hereof contains material misleading statements or errors and/or the Pledgor breaches any
warranty in Article 5 hereof; 
 7.1.4 The Pledgor breaches the covenants under Article 6 hereof; 

7.1.5 The Pledgor breaches any other provision of this Agreement; 

7.1.6 The Pledgor waives the pledged Equity Interest or transfers or assigns the pledged Equity Interest without prior written consent from the Pledgee; 

  
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 7.1.7 Any of the Pledgor’s external loans, guaranties, compensations, undertakings or other obligations (1)
is required to be repaid or performed prior to the scheduled due date because of a default; or (2) is due but cannot be repaid or performed as scheduled, causing the Pledgee to believe that the Pledgor’s ability to perform the obligations
hereunder has been affected; 
 7.1.8 The Company is incapable of repaying its general debts or other debts; 

7.1.9 This Agreement becomes illegal or the Pledgor is not capable of continuing to perform the obligations hereunder due to any reason other than force
majeure; 
 7.1.10 There have been adverse changes to the properties owned by the Pledgor, causing the Pledgee to believe that the capability of the Pledgor
to perform the obligations hereunder has been affected; 
 7.1.11 The successor or custodian of the Company only partially performs or refuses to perform
the payment obligation under the Services Agreement. 
 7.1.12 The breach of the other provisions of this Agreement by the Pledgor due to his act or
omission. 
 7.2 The Pledgor shall immediately give a written notice to the Pledgee if the Pledgor knows or discovers that any event specified under Article
7.1 hereof or any event that may result in the foregoing events has occurred. 
 7.3 Unless an event of default under Article 7.1 hereof has been solved to
the Pledgee’s satisfaction, the Pledgee, at any time when the event of default occurs or at any time thereafter, may give a written notice of default to the Pledgor, requiring the Pledgor to immediately make full payment of the outstanding
amount under the Loan Agreement or under the Services Agreement or requesting to exercise the Pledge in accordance with Article 8 hereof. 
 8. Exercise of
the Pledge 
 8.1 The Pledgor shall not transfer or assign the Equity Interest without prior written approval from the Pledgee prior to the full performance
of his obligations under the Loan Agreement and full payment of all Service Fees under the Services Agreement, whichever is later. 
 8.2 The Pledgee shall
give a notice of default to the Pledgor when the Pledgee exercises the Pledge. 
 8.3 Subject to Article 7.3, the Pledgee may exercise the Pledge when the
Pledgee gives a notice of default in accordance with Article 7.3 or at anytime thereafter. 
 8.4 The Pledgee is entitled to priority in receiving
payment in the form of all or part of the Equity Interest based on the conversion value thereof, or from the proceeds from the auction or sale of all or part of the Equity Interest in accordance with legal procedure, until the outstanding debt and
all other payables of the Pledgor under Loan Agreement and Services Agreement are repaid. 

  
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 8.5 The Pledgor shall not hinder the Pledgee from exercising the Pledge in accordance with this Agreement and
shall give necessary assistance so that the Pledgee could fully exercise its Pledge. 
 9. Assignment 

9.1 The Pledgor shall not assign or transfer its rights and obligations hereunder without prior consent from the Pledgee. 

9.2 This Agreement shall be binding upon the Pledgor and his successors and be binding on the Pledgee and each of its successors and permitted assigns. 

9.3 To the extent permitted by law, the Pledgee may transfer or assign any or all of its rights and obligations under the Loan Agreement to any person
(natural person or legal entity) designated by it at any time. In that case, the assignee shall have the same rights and obligations as those of the Pledgee as if the assignee was an original party hereto. When the Pledgee transfers or assigns the
rights and obligations under the Loan Agreement, it is only required to provide a written notice to the Pledgor, and at the request of the Pledgee, the Pledgor shall execute the relevant agreements and/or documents with respect to such transfer or
assignment. 
 9.4 After the Pledgee has been changed as a result of a transfer or an assignment, the new parties to the Pledge shall execute a new pledge
contract. 
 10. Effectiveness and Term 
 This Agreement is
effective as of the date first set forth above and from the date when the pledge is recorded on the Company’s Register of Shareholders. 
 11.
Termination 
 This Agreement shall terminate when the loan under the Loan Agreement and the Services Fees under the Services Agreement have been fully
repaid and the Pledgor no longer has any outstanding obligations under the Loan Agreement and the Company no longer has any outstanding obligations under the Services Agreement. Thereafter, the Pledgee shall cancel or terminate this Agreement as
soon as reasonably practicable. 
 12. Fees and Other Charges 

12.1 [The Pledgor] shall be responsible for all of the fees and actual expenses in relation to this Agreement including, but not limited to, legal fees,
production costs, stamp tax and any other taxes and charges. If the Pledgee pays the relevant taxes in accordance with the laws, [the Pledgor shall fully indemnify the Pledgee for such taxes paid by the Pledgee]. 

  
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 12.2 [In the event that the Pledgee has to make a claim against the Pledgor by any means as a result of the
Pledgor’s failure to pay any tax or expense payable by the Pledgor under this Agreement, the Pledgor shall be responsible for all the expenses arising from such claim (including but not limited to any taxes, handling fees, management fees,
litigation fees, attorney’s fees, and various insurance premiums in connection with the disposition of the Pledge)]. 
 13. Force Majeure 

13.1 Force Majeure, which includes but is not limited to acts of governments, acts of nature, fires, explosions, typhoons, floods, earthquake, tides, lightning
or war, refers to any unforeseen event that is beyond a party’s reasonable control and cannot be prevented with reasonable care. However, any insufficiency of creditworthiness, capital or financing shall not be regarded as an event beyond a
party’s reasonable control. The affected party by Force Majeure shall promptly notify the other party of such event resulting in exemption. 
 13.2 In
the event that the affected party is delayed or prevented from performing its obligations under this Agreement by Force Majeure, and only to the extent of such delay and prevention, the affected party shall not be liable for obligations under this
Agreement. The affected party shall take appropriate measures to minimize or remove the effects of Force Majeure and attempt to resume performance of the obligations that were delayed or prevented by the event of Force Majeure. After the event of
Force Majeure is removed, both parties agree to resume the performance of this Agreement using their best efforts. 
 14. Confidentiality 

The parties to this Agreement acknowledge and confirm that all the oral and written materials exchanged relating to this Agreement are confidential. Each party
must keep such materials confidential and cannot disclose such materials to any other third party without the other party’s prior written approval, unless: (a) the public knows or will know the materials (not due of the disclosure by the
receiving party); (b) the disclosed materials are required by law or stock exchange rules to be disclosed; or (c) materials relating to the transactions under this Agreement are disclosed to the parties’ legal or financial advisors, who must
keep them confidential as well. Disclosure of the confidential information by employees or institutions hired by the parties is deemed as an act by the parties, therefore, subjecting them to liability. 

15. Dispute Resolution 
 15.1 This Agreement shall be governed by
and construed in accordance with PRC law. 
 15.2 The parties shall strive to settle any dispute arising from the interpretation or performance of this
Agreement through friendly consultation. In case no settlement can be reached through consultation, each party can submit such matter to the China International Economic and Trade Arbitration Commission (“CIETAC”) for arbitration. The
arbitration shall follow the current rules of CIETAC, the arbitration proceedings shall be conducted in Chinese and shall take place in Beijing, PRC. The arbitration award shall be final and binding upon the parties. 

  
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 16. Notice 
 Any
notice which is given by the parties hereto for the purpose of performing the rights and obligations hereunder shall be in writing. Where such notice is delivered personally, the time of notice is the time when such notice actually reaches the
addressee; where such notice is transmitted by telex or facsimile, the notice time is the time when such notice is transmitted. If such notice does not reach the addressee on a business day or reaches the addressee after business hours, the next
business day following such day is the date of notice. The delivery place is the address first written above for each of the parties hereto or the address advised by such party in writing, including facsimile and telex, from time to time. 

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

Address: 3/F., Baidu Building, No. 10 Shangdi 10th Street, Haidian District, Beijing 

Facsimile: 5992-8888 
 Telephone: 

Party B: Liang Zhixiang 
 Address:

Facsimile:
 Telephone:

17. Entire Agreement 
 Notwithstanding Article 10, the parties
agree that this Agreement constitutes the entire agreement of the parties hereto with respect to the subject matters herein upon its effectiveness and supersedes and replaces all prior oral and/or written agreements and understandings relating to
the subject matters of this Agreement. 
 18. Severability 

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. 
 19.
Appendices 
 The appendices to this Agreement shall constitute an integral part of this Agreement. 

  
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 20. Amendment or Supplement 

20.1 The parties may amend or supplement this Agreement by written agreement. The amendments or supplements to this Agreement duly executed by both parties
shall form an integral part of this Agreement and shall have the same legal effect as this Agreement. 
 20.2 This Agreement and any amendments,
modifications, supplements, additions or changes hereto shall be in writing and shall be effective upon being executed and sealed by the parties hereto. 

21. Counterparts 
 This Agreement is executed in Chinese in
duplicate, with each party hereto holding one copy. Both originals have the same legal effect. 
 [no text below] 

  
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 [Signature Page] 

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

Legal Representative/Authorized Representative:                /s/ Zhan Wang

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

Pledgor: Liang Zhixiang 
 Signature: /s/ Zhixiang Liang 

  
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 Appendix I 

Register of shareholders of Beijing BaiduPay Science and Technology Co., Ltd. 

Name of the Shareholder: Beijing Baidu Netcom Science Technology Co., Ltd. 

Residential Address: 2/F, No. 10 Shangdi 10th Street, Haidian District, Beijing 10085. 

Capital contribution: RMB 910,000,000 
 Percentage of capital
contribution: 91% 
 No. of the certificate of capital contribution: 

Name of shareholder: Zhixiang Liang 
 ID number: 

Capital contribution: RMB 910,000,000 
 Percentage of capital
contribution: 9% 
 No. of the certificate of capital contribution: 

Liang Zhixiang holds 9% of the shares of Beijing BaiduPay Science and Technology Co., Ltd., which have been pledged to Baidu Online Network Technology
(Beijing) Co., Ltd. 
 Baidu Online Network Technology (Beijing) Co., Ltd. is the pledgee of 9% of the shares in Beijing BaiduPay Science and Technology
Co., Ltd. 
 Beijing Baidu Netcom Science Technology Co., Ltd. 

Signature: /s/ Zhixiang Liang 
 Name: Zhixiang Liang 

Title: Legal representative (with the company seal of Beijing Baidu Netcom Science Technology Co., Ltd.) 

Date: December 22, 2015 

  
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 Appendix II 

Resolutions of the General Shareholders’ Meeting of Beijing BaiduPay Science and Technology Co., Ltd. 

In respect of the Amended and Restated Equity Pledge Agreement executed on December 22, 2015 between the shareholders of Beijing BaiduPay Science and
Technology Co., Ltd. and Beijing Online Network Technology (Beijing) Co., Ltd., the general shareholders’ meeting of the Company made a resolution unanimously as follows: 

Approve Zhixiang Liang, a shareholder of the Company, to pledge all of his equity interest in BaiduPay Science and Technology Co., Ltd. to Baidu Online
Network Technology (Beijing) Co., Ltd. 
 The resolution was executed and submitted on December 22, 2015. 

Shareholder: Beijing Baidu Netcom Science Technology Co., Ltd. 

Seal: /s/ Beijing Baidu Netcom Science Technology Co., Ltd. 

Shareholder: Zhixiang Liang 
 Signature: /s/ Zhixiang Liang 

Date: December 22, 2015 

  
 12EX-4.31

 Exhibit 4.31 

This document is a translation of the original text in Chinese 

AMENDED AND RESTATED EXCLUSIVE EQUITY PURCHASE AND TRANSFER OPTION AGREEMENT 

This Amended and Restated Exclusive Equity Purchase and Transfer Option Agreement (this “Agreement”) is entered into among the
following parties in Beijing, PRC on December 22, 2015: 
 Party A: Baidu Online Network Technology (Beijing) Co., Ltd. 

Legal Address: Baidu Building, No. 10 Shangdi 10th Street, Haidian District, Beijing 

Party B: Liang Zhixiang 

ID Number: 
 Party C:
Beijing BaiduPay Science and Technology Co., Ltd. 
 Legal Address: 5/F., Baidu Building B, No. 10 Shangdi
10th Street, Haidian District, Beijing 
 In this Agreement, Party A, Party B and Party C are called collectively as the “Parties”
and each of them is a “Party.” 
 WHEREAS: 
  

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

  

	2.	Party C, a liability limited company incorporated in the PRC and engages in value-added telecommunication services such as Internet information services; 

 

	3.	Party B is the shareholder of Party C. Party B has ownership of 9% of the equity interest in Party C (the “Equity Interest”); 

 

	4.	Party A and Party B entered into an amended and restated loan agreement on December 22, 2015, pursuant to which Party B obtained an interest-free loan of RMB 90,000,000 from Party A (the “Loan Agreement”) for
Party B to invest in Party C; 

  

	5.	Party A and Party C entered into an exclusive technology consulting and services agreement (the “Services Agreement”) on February 28, 2008 and a series of agreements; and 

 

	6.	Party A and Party B entered into an amended and restated equity pledge agreement (the “Equity Pledge Agreement”) on December 22, 2015. 

NOW, THEREFORE, the Parties upon negotiation hereby agree as follows: 
  

	1.	Purchase and Sale of Equity Interest 

  
  

	1.1	Granting of Rights 

 Party B (hereafter, the “Transferor”) hereby irrevocably grants to Party A an
option to purchase or cause any one or more designated persons (“Designated Persons”) to purchase, to the extent permitted under 

 
PRC law, according to the steps determined by Party A, at the price specified in Article 1.3 of this Agreement, and at any time from the Transferor, a portion of, or all of, the equity interests
held by the Transferor in Party C (the “Option”). No Option shall be granted to any third party other than Party A and/or the Designated Persons. Party C hereby agrees to the granting of the Option by Party B to Party A and/or the
Designated Persons. The “person” set forth in this article and this Agreement means an individual person, corporation, joint venture, partnership, enterprise, trust or a non-corporation organization. 

 

	1.2	Exercise Steps 

 Subject to PRC law and regulations, Party A and/or the Designated Persons may
exercise the Option by issuing a written notice (the “Notice”) to the Transferor, specifying the equity interest to be purchased from the Transferor (the “Purchased Equity Interest”) and the manner of such purchase. 

 

	1.3	Purchase Price 

  

	 	1.3.1	If Party A exercises the Option, the purchase price of the Purchased Equity Interest (“Purchase Price”) shall be equal to the actual paid-in capital paid by the Transferor for the Purchased Equity Interest,
unless then applicable PRC laws and regulations require appraisal of the Purchased Equity Interest or stipulate other restrictions on the Purchase price. 

  

	 	1.3.2	If the applicable PRC laws require appraisal of the Purchased Equity Interest or stipulate other restrictions on the Purchase Price at the time that Party A exercises the Option, the Parties agree that the Purchase
Price shall be set at the lowest price permissible under applicable law. 

  

	1.4	Transfer of the Purchased Equity Interest 

 At each exercise of the Option: 

 

	 	1.4.1	The Transferor shall, in accordance the terms and conditions of this Agreement and the Notice in connection with the Purchased Equity Interest, enter into an equity transfer agreement with Party A and/or the Designated
Persons (as applicable) for each transfer in form satisfactory to Party A; 

  

	 	1.4.2	The Transferor shall execute all other requisite contracts, agreements or documents, obtain all requisite government approvals and consents, and take all necessary actions to transfer the valid ownership of the
Purchased Equity Interest to Party A and/or the Designated Persons free of any security interest, and cause Party A and/or the Designated Persons to be the registered owner(s) of the Purchased Equity Interest. In this article and this Agreement,
“Security Interest” means guaranty, mortgage, pledge, third-party right or interest, any share option, right of acquisition, right of first refusal, right of set-off, ownership, detainment or other security arrangements. However, it does
not include any security interest arising under the Equity Pledge Agreement. 

  

	1.5	Payment 

 The manner of payment of the Purchase Price shall be determined through negotiations
between Party A and/or the Designated Persons and the Transferor according to the applicable laws at the time of the exercise of the Option. The Parties hereby agree that, subject to applicable laws, Transferor shall repay to Party A any amount that
is paid by Party A and/or the Designated Persons to the Transferor in connection with the Purchased Equity Interest (excluding the tax fees and other fees incurred by the proposed transaction according to transfer agreements paid by the Transferor).

  
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	2.	Covenants Relating to the Equity Interest 

  
  

	2.1	Covenants Relating to Party C 

 Party B and Party C hereby covenant, in relation to Party C:

  

	 	2.1.1	Not to supplement, amend or modify Party C’s articles of association in any way, or to increase or decrease its registered capital, or to change its registered capital structure in any way without Party A’s
prior written consent; 

  

	 	2.1.2	To maintain the corporate existence of Party C and operate its business and deal with matters prudently and effectively according to good financial and business rules and practices; 

 

	 	2.1.3	Not to sell, transfer, mortgage or otherwise dispose of, or permit any other security interest to be created on, any of Party C’s assets, business or legal or beneficial interests in its revenue at any time after
the signing of this Agreement without Party A’s prior written consent; 

  

	 	2.1.4	Not to create, succeed to, guarantee or permit any liability, without Party A’s prior written consent, except (i) liabilities arising from the normal course of business, but not arising from loans; and
(ii) liabilities disclosed to Party A and approved by Party A in writing; 

  

	 	2.1.5	To operate persistently all the business in the normal course of business to maintain the value of Party C’s assets, and not to commit any act or omission that would affect its operations and asset value;

  

	 	2.1.6	Without prior written consent by Party A, not to enter into any material agreement, other than agreements entered into in Party C’s normal course of business (for purpose of this paragraph, an agreement will be
deemed material if its value exceeds RMB500,000); 

  

	 	2.1.7	Not to provide loans or credit to any person without Party A’s prior written consent; 

  

	 	2.1.8	To provide all information relating to Party C’s operations and financial conditions upon the request of Party A; 

  

	 	2.1.9	To purchase and maintain insurance from insurance companies accepted by Party A. The amount and category of the insurance shall the same as those of the insurance normally procured by companies engaged in similar
businesses and possessing similar properties or assets in the area where Party C is located; 

  

	 	2.1.10	Not to merge or consolidate with, or acquire or invest in, any person without Party A’s prior written consent; 

  

	 	2.1.11	To promptly notify Party A of any pending or threatened suit, arbitration or administrative proceedings concerning Party C’s assets, business or revenue; 

 

	 	2.1.12	To execute all necessary or appropriate documents, to take all necessary or appropriate actions and to bring all necessary or appropriate claims or to make all necessary and appropriate defenses against all claims in
order for Party C to maintain the ownership over all its assets; 

  

	 	2.1.13	Not to distribute dividends to Party C’s shareholders in any way without Party A’s prior written consent. However, Party C shall promptly distribute all or part of its distributable profits to its shareholders
upon Party A’s request; 

  

	 	2.1.14	At the request of Party A, to appoint persons nominated by Party A to be the directors of Party C; 

  

	2.2	Covenants Relating to the Transferor 

 Party B hereby covenants: 

 

	 	2.2.1	Not to sell, transfer, mortgage or otherwise dispose of, or allow any other security interest to be created on, the legal or beneficial interest in the Equity Interest at any time after the signing of this Agreement
without Party A’s prior written consent, other than the pledge created on Party B’s Equity Interest in accordance with the Equity Pledge Agreement; 

  
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	 	2.2.2	Without Party A’s prior written consent, not to vote for or sign any shareholders’ resolution at Party C’s shareholders’ meetings to approve the sale, transfer, mortgage or disposition in any other
manner of, or the creation of any other security interest on, any legal or beneficial interest in the Equity Interest, except to or for the benefit of Party A or its designated persons; 

 

	 	2.2.3	Without Party A’s prior written consent, not to vote for or sign any shareholders’ resolution at Party C’s shareholders’ meetings to approve Party C’s merger or consolidation with, acquisition
of or investment in, any person; 

  

	 	2.2.4	To promptly notify Party A of any pending or threatened suit, arbitration or administrative proceedings concerning the Equity Interest owned by it; 

 

	 	2.2.5	To execute all necessary or appropriate documents, to take all necessary or appropriate actions and to bring all necessary or appropriate claims or to make all necessary and appropriate defenses against all claims in
order to maintain his ownership over the Equity Interest; 

  

	 	2.2.6	At the request of Party A, to appoint persons nominated by Party A to be the directors of Party C; 

  

	 	2.2.7	At any time, upon the request of Party A, to transfer its Equity Interest immediately and unconditionally to the representative designated by Party A, and waive its preemptive right with respect to the transfer of
equity interest by the other shareholder of Party C; 

  

	 	2.2.8	To fully comply with the provisions of this Agreement and the other agreements entered into jointly or respectively by and among the Transferor, Party C and Party A, perform all obligations under these agreements and
not commit any act or omission that would affect the validity and enforceability of these agreements; and 

  

	 	2.2.9	To transfer all dividends and any other form of profit allocated by Party C to Party A. 

  

	2.3	Covenants Relating to Party A 

 Party A hereby convenant: 

 

	 	2.3.1	Party A shall provide unlimited financial support to Party C unconditionally within an acceptable and reasonable scope when Party C needs any loan or financial support in any other form during its course of business;

  

	 	2.3.2	If Party C cannot repay the loan from Party A as loss incurred and has sufficient evidence to prove, Party A agrees that it shall give up the rights of requiring Party C to repay the loan. 

 

	3.	Representations and Warranties 

 As of the execution date of this Agreement and every
transfer date, each of the Transferor and Party C hereby represents and warrants to Party A as follows: 
  

	3.1	It has the power and authority to execute and deliver this Agreement, and any equity transfer agreement (“Transfer Agreement”) to which it is party for each transfer of the Purchased Equity under this
Agreement and to perform its obligations under this Agreement and any Transfer Agreement. Once executed, this Agreement and any Transfer Agreement to which it is party will constitute a legal, valid and binding obligation of it enforceable against
it in accordance with its terms; 

  

	3.2	The execution, delivery and performance of this Agreement or any Transfer Agreement by it will not: (i) violate any relevant PRC laws and regulations; (ii) conflict with its articles of association or other
organizational documents; (iii) violate or constitute a default under any contract or instrument to which it is party or that binds upon it; (iv) violate any condition for the grant and/or continued effectiveness of any permit or approval
granted to it; or (v) cause any permit or approval granted to it to be suspended, cancelled or attached with additional conditions; 

  

	3.3	Party C has good and marketable ownership interest in all of its assets and has not created any security interest on the said assets; 

 

	3.4	Party C has no outstanding liabilities, except (i) liabilities arising in its normal course of business; and (ii) liabilities disclosed to Party A and approved by Party A in writing; 

  
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	3.5	There are currently no existing, pending or threatened litigation, arbitration or administrative proceedings related to the Equity Interest, Party C’s assets or Party C; and 

 

	3.6	The Transferor has good and marketable ownership interest in the Equity Interest and has not created any security interest on such Equity Interest, other than the security interest pursuant to the Equity Pledge
Agreement. 

  

	4.	Assignment of Agreement 

  

	4.1	Party B and Party C shall not assign their rights and obligations under this Agreement to any third party without the prior written consent of Party A. 

 

	4.2	Party B and Party C hereby agree that Party A may assign all its rights and obligation under this Agreement to a third party without the consent of Party B and Party C, but such assignment shall be notified in writing
to Party B and Party C. 

  

	5.	Effective Date and Term 

  

	5.1	This Agreement shall be effective as of the date first set forth above. 

  

	5.2	This Agreement is effective from the signing date, and will terminate after the newly created part of Equity Interest owned by Party B has been fully and legally transferred to Party A and/or the Designated Persons
according to this Agreement. 

  

	5.3	If the duration of operation (including any extension thereof) of Party A or Party C is expired or terminated for other reasons within the term set forth in Article 5.2, this Agreement shall be terminated
simultaneously, except in the situation where Party A has assigned its rights and obligations in accordance with Article 4.2 hereof. 

  

	6.	Applicable Law and Dispute Resolution 

  

	6.1	Applicable Law 

 The formation, validity, interpretation and performance of and settlement of
disputes under this Agreement shall be governed by the laws of the PRC. 
  

	6.2	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 dispute resolution
through negotiations, either party may refer such dispute to China International Economic and Trade Arbitration Commission (“CIETAC”) for arbitration in accordance with CIETAC’s arbitration rules then in effect. The seat of
arbitration shall be Beijing and language of proceedings shall be Chinese. The arbitral award shall be final and binding upon the Parties. 
  

	7.	Taxes and Expenses 

 Every Party shall, in accordance with PRC laws, bear any and all
transfer and registration taxes, expenses and charges incurred by or levied on it with respect to the preparation and execution of this Agreement and each Transfer Agreement and the consummation of the transactions contemplated under this Agreement
and each Transfer Agreement. 
  

	8.	Notices 

  
 Any notice
or other communication forms which is given by the parties hereto shall be in Chinese and delivered personally to the addresses listed as below or the addresses designated by the Parties. The notice time which is deemed as the time when the notice
actually reaches the addressee follows: (a) the notice time of the notice delivered personally shall be the day when the person conducts the delivery; (b) the notice time of the notice delivered as mail shall be the tenth (10) day
following the mailing date of the registered mail by air (marked by seal) or shall be the fourth (4) day following the day handing to internally recognized delivery services organizations; and (c) the notice time of the notice delivered by
facsimile shall be the acceptance time on the delivery confirmation. 

  
 5 

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

Address: 3/F., Baidu Building, No. 10 Shangdi 10th Street, Haidian District, Beijing 

Facsimile: (010)5992-8888 

Telephone: (010)5992-8888 

Party B: Liang Zhixiang 

Address: 

Facsimile: 

Telephone: 

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

Address: 5/F., Baidu Building B, No. 10 Shangdi 10th Street, Haidian District, Beijing 

Facsimile: 

Telephone: 
  

	9.	Confidentiality 

 The Parties acknowledge and confirm any oral or written materials
exchanged by the Parties in connection with this Agreement are confidential. The Parties shall maintain the confidentiality of all such materials. Without the written approval by the other Parties, any Party shall not disclose to any third party any
relevant materials, but the following circumstances shall be excluded: 
  

	 	9.1	Materials that are or will become known by the public (through no fault of the receiving party); 

  

	 	9.2	Materials required to be disclosed by the applicable laws or rules of the stock exchange; 

  

	 	9.3	Materials disclosed by each Party to its legal or financial advisors relating the transactions contemplated by this Agreement, and such legal or financial advisors shall comply with the confidentiality provisions
similar to this article. 

 The disclosure of information by the staff or consultants of any party shall be deemed as
disclosure by the party itself. This Section 9 shall survive any invalidity, termination, expiration or unenforceability of this Agreement. 
  

	10.	Further Assurances 

 The Parties agree to promptly execute documents and take further
actions that are reasonably required for, or beneficial to, the purpose of performing the provisions and carrying out the intent of this Agreement. 
  

	11.	Miscellaneous 

  

	11.1	Amendment, Modification 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 be deemed as a part of this Agreement and shall have the same legal effect as this Agreement. 

 

	11.2	Entire Agreement 

 Notwithstanding Article 5 of this Agreement, the Parties acknowledge that
once this Agreement becomes effective, it shall constitute the entire agreement of the Parties with respect to the subject matters hereof and shall supersede all prior oral and/or written agreements and understandings by the Parties with respect to
the subject matters hereof. 
  

	11.3	Severability 

 If any provision of this Agreement is judged to be invalid, illegal or
unenforceable in any respect according to any applicable law or regulation, the validity, legality and enforceability of the other provisions hereof shall not be affected or impaired in any way. The Parties shall, through good-faith negotiations,
replace those invalid, illegal or unenforceable provisions with valid provisions that may bring about economic effects as similar as possible to those from such invalid, illegal or unenforceable provisions. 

  
 6 

	11.4	Headings 

 The headings contained in this Agreement are for the convenience of reference only
and shall not be used for the interpretation or explanation or otherwise affect the meaning of the provisions of this Agreement. 
  

	11.5	Language and Copies 

 This Agreement is executed in Chinese in three copies; each Party holds
one copy and each copy has the same legal effect. 
  

	11.6	Successor 

 This Agreement shall bind upon and inure to the benefit of the successors and
permitted assigns of each Party. 
  

	11.7	Survival 

 Any obligation arising from or becoming due under this Agreement before its
expiration or premature termination shall survive such expiration or premature termination. Articles 6, 8 and 9 and this Article 11.7 shall survive the termination of this Agreement. 

 

	11.8	Waiver 

 Any Party may waive the terms and conditions of this Agreement by a written instrument
signed by the Parties. Any waiver by a Party to a breach by the other Parties in a specific situation shall not be construed as a waiver to any similar breach by the other Parties in other situations. 

IN WITNESS WHEREOF, each Party has caused this Agreement to be executed by himself/herself, its legal representative or its duly
authorized representative as of the date first written above. 
 [Signature Page] 

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

Legal Representative/Authorized Representative: /s/ Zhan Wang 

Seal: /s/ Baidu Online Network Technology (Beijing) Co., Ltd. 

Party B: Zhixiang Liang 

Signature: /s/ Zhixiang Liang 

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

Legal Representative/Authorized Representative: /s/ Zhixiang Liang 

Seal: /s/ Beijing BaiduPay Science and Technology Co., Ltd. 

  
 7

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