Document:

EX-10.1

 Exhibit 10.1 

English Translation 
 Amendment
to Credit Agreement 
 This Amendment to Credit Agreement ( hereinafter referred to as “Supplemental Agreement”) is entered into by and among
the parties below on September 1, 2017 in Beijing, People’s Republic of China: 
  

	 	(1)	Ping An Bank Co., Ltd. Tianjin Pilot Free Trade Zone Branch, with its office located at 101, Gated 1, Tower 1, Ronghe Square, No. 168 West 4 Street, China (Tianjin) Pilot Free Trade Zone (Tianjin Airport Economic
Area) and its legal representative (head of the branch) Wei Huisheng (hereinafter referred to as “Ping An Bank”); 

  

	 	(2)	Beijing Sohu New Media Information Technology Co., Ltd., with its office located at Room 802, Floor 8, Sohu.com Internet Plaza, Building 9, No. 1, Zhongguancun East Road, Haidian District, Beijing and its legal
representative Zhang Chaoyang (hereinafter referred to as “Sohu New Media”); 

  

	 	(3)	Fox Information Technology (Tianjin) Limited, with its office located at Room 210-01, Floor 2, Office Building C, Comprehensive Service Area of Nangang Industrial Zone, Tianjin
Economic-Technological Development Area, Tianjin and its legal representative Li Wei (hereinafter referred to as “Fox Info”); 

  

	 	(4)	Tianjin Jinhu Culture Development Co., Ltd., with its office located at Room 2101, Floor 21, Building C3, Taida MSD-C Area, No. 79 First Avenue, Tianjin
Economic-Technological Development Area, Tianjin, and its legal representative Deng Xiufeng (hereinafter referred to as “Tianjin Jinhu”, collectively, together with Sohu New Media and Fox Info, the “Borrowers” );

  

	 	(5)	Beijing Sohu New Momentum Information Technology Co., Ltd., with its office located at Room 1202, Floor 12, Sohu.com Internet Plaza, Building 9, No. 1, Zhongguancun East Road, Haidian District, Beijing and its
legal representative Deng Xiufeng (hereinafter referred to as “Sohu New Momentum”); 

  

	 	(6)	Beijing Sohu New Era Information Technology Co., Ltd., with its office located at Floor 15, Sohu.com Internet Plaza, Building 9, No. 1, Zhongguancun East Road, Haidian District, Beijing and its legal representative
Zhang Chaoyang (hereinafter referred to as “Sohu New Era”); 

  

	 	(7)	Sohu.com (Game) Limited, with is registered address at P.O.Box 31119 Grand Pavilion, Hibiscus Way, 802 West Bay Road, Grand Cayman, KY1-1205 Cayman Islands (hereinafter referred
to as “Sohu Game”); 

  

	 	(8)	Sohu.com Inc, with its registered address located at 1209 Orange Street, Wilmington, County of New Castle, Delaware, USA (hereinafter referred to as “Sohu Inc”). 

They are referred collectively as the “Parties” and individually a “Party”. 

 

 WHEREAS, 
  

	 	1.	Ping An Bank and Sohu New Media executed a Loan Agreement, numbered Ping Yin Hu Yi Wen Dai Zi 20170512 No. 001, on May 19, 2017 (hereinafter referred to as the “Loan Agreement”);

  

	 	2.	Ping An Bank and Sohu Inc executed a Strategic Cooperation Agreement, numbered Yin Hu Yi Wen Zhan Zi 20170512 No. 001, on May 19, 2017 (hereinafter referred to as the “Strategic Cooperation
Agreement”); 

  

	 	3.	Ping An Bank and Fox Info executed a General Credit Limit Agreement, numbered Ping Yin Hu Yi Wen Zong Zi 20170512 No. 001, on May 19, 2017 (hereinafter referred to as the “Credit Agreement of Fox
Info”); 

  

	 	4.	Ping An Bank and Tianjin Jinhu executed a General Credit Limit Agreement, numbered Ping Yin Hu Yi Wen Zong Zi 20170512 No. 003, on May 19, 2017 (hereinafter referred to as the “Credit Agreement of
Tianjin Jinhu”); 

  

	 	5.	Ping An Bank and Sohu New Media executed a General Credit Limit Agreement, numbered Ping Yin Hu Yi Wen Zong Zi 20170512 No. 002, on May 19, 2017 (hereinafter referred to as the “Credit Agreement of
Sohu New Media”, collectively, together with Credit Agreement of Fox Info and Credit Agreement of Jinhu, the “Credit Agreements”); 

  

	 	6.	Ping An Bank and Sohu Game executed a maximum amount guaranty agreement, numbered Ping Yin Hu Yi Wen E Bao Zi 20170512 No. 001, on May 19, 2017 (hereinafter referred to as the “Maximum Amount Guaranty
Agreement”); 

  

	 	7.	Ping An Bank and Sohu Inc executed a Commitment Letter, numbered Yin Hu Yi Wen Cheng Zi 20170512 No. 001, on May 19, 2017 (hereinafter referred to as the “Commitment Letter”);

  

	 	8.	Ping An Bank and Sohu New Momentum executed an Asset Pledge Agreement, numbered Ping Yin Hu Yi Wen E Di Zi 20170512 No. 003, on May 19, 2017 (hereinafter referred to as the “Asset Pledge Agreement of
Sohu New Momentum”); 

  

	 	9.	Ping An Bank and Sohu New Media executed an Asset Pledge Agreement, numbered Ping Yin Hu Yi Wen E Di Zi 20170512 No. 001, on May 19, 2017 (hereinafter referred to as the “Asset Pledge Agreement of Sohu
New Media”); 

  

	 	10.	Ping An Bank and Sohu New Era executed an Asset Pledge Agreement, numbered Ping Yin Hu Yi Wen E Di Zi 20170512 No. 002, on May 19, 2017 (hereinafter referred to as the “Asset Pledge Agreement of Sohu
New Era”, collectively, together with Asset Pledge Agreement of Sohu New Momentum, Asset Pledge Agreement of Sohu New Media, Maximum Amount Guaranty Agreement, Credit Agreement of Sohu New Media, Credit Agreement of Tianjin Jinhu, Credit
Agreement of Fox Info, Strategic Cooperation Agreement, Loan Agreement, and Commitment Letter, the “Transaction Documents”); 

  

	 	11.	Ping An Bank has granted a loan of RMB 400 million yuan to Sohu New Media under the Loan Agreement and gone through the formalities for pledge registration of Building 9 of Sohu.com Internet Plaza located at, No 1,
Zhongguancun East Road, Haidinn District, Beijing (hereinafter referred to as “Pledge of Sohu.com Internet Plaza”). 

  

	 	12.	In order to the meet the need of business development, the Parties agree to make adjustments to the Transaction Documents. 

 NOW, THEREFORE, the Parties, upon friendly negotiations, hereby agree as follows: 

 

			
	Article 1	  	Ping An Bank and Sohu New Momentum mutually agree to rescind the Asset Pledge Agreement of Sohu New Momentum and acknowledge that neither Ping An Bank nor Sohu New Momentum have failed to perform obligations or there was any
default event under the Asset Pledge Agreement of Sohu New Momentum. As from the execution date of this Agreement, Sohu New Momentum will not be bound by the Asset Pledge Agreement of Sohu New Momentum and can decide on possession, leasing, or
pledge of the collaterals under such Agreement at its own discretion.
		
	Article 2	  	Ping An Bank and Sohu New Media mutually agree that the list of collateral set forth in Annex I hereof shall supersede the list of collateral in Annex I of the Asset Pledge Agreement of Sohu New Media. Both Parties agree and
acknowledge that, as from the execution date of the Asset Pledge Agreement of Sohu New Media, such Agreement will not cover other collateral except for those stated in the list of collateral set forth in Annex I hereof. Sohu New Media has the right
to decide to possess, use, lease, or pledge the land use right and property ownership of the real estates located at Rooms -205, -101, 201, 901, 1001, 1101, 1201, 1301,
1401, and 1501, Building 3, No. 2, Kexueyuan South Road, Haidian District, Beijing.
		
	Article 3	  	Ping An Bank and the Borrowers mutually agree that the aggregate line of credit of the Borrowers under the Credit Agreements shall not be more than RMB 600 billion yuan (RMB six hundred million yuan in words).
		
	 	  	If, however, during the term of the credit, Changyou.com Limited (NASDAQ: CYOU) pays dividends and Sohu Inc.
has its dividend received flow de facto inside Sohu Group, Ping An Bank and the Borrowers mutually agree that,
as
from the date when Sohu Inc. has the dividend flow de facto, the aggregate line of credit of the Borrowers under the
Credit Agreements will be adjusted to RMB 800 million yuan (RMB eight hundred million yuan in words).
		
	 	  	In respect of the specific credit business within the aforesaid line of credit, the Borrowers shall submit written
application to Ping An Bank drawdown by drawdown in accordance with applicable Credit Agreements and
the
Borrowers shall otherwise execute corresponding credit agreement for each drawdown according to the nature of the
business.
		
	 	  	The aforesaid line of credit may be initiated only when the following conditions are met concurrently:
		
	 	  	The Borrowers open special accounts for repayment fund with Ping An Bank, and deposit sales incomes into such
accounts. The daily amount of account statement for each quarter shall not be less than 40% of the line of
credit
granted by Ping An Bank.

			
	Article 4	  	Ping An Bank and Sohu Game mutually agree to adjust the limit of guaranty under the Maximum Amount Guaranty Agreement in accordance with the agreements made in this Supplemental Agreement, that is, the maximum amount (balance) of
the principal of the secured liability will be adjusted to (equivalent to) RMB six hundred million yuan only (in words) and will be subject to the adjustment of Article 3 Para. 2.
		
	Article 5	  	Ping An Bank and Sohu New Media agree to adjust the limit of the principal creditor’s right under the Asset Pledge Agreement of Sohu New Media in accordance with the agreements made in this Supplemental Agreement, that is,
the maximum amount (balance) of the principal of the liability secured will be adjusted to (equivalent to) RMB six hundred million yuan only (in words) and will be subject to the adjustment of Article 3 Para. 2.
		
	Article 6	  	Ping An Bank and Sohu New Era agree to adjust the limit of the principal creditor’s right secured under the Asset Pledge Agreement of Sohu New Era in accordance with the agreements made in this Supplemental Agreement, that
is, the maximum amount (balance) of the principal of the liability secured will be adjusted to (equivalent to) RMB six hundred million yuan only (in words) and will be subject to the adjustment of Article 3 Para. 2.
		
	Article 7	  	Ping An Bank and Sohu Inc. agree that, in consideration of the amendments to the Transaction Documents made in this Supplemental Agreement, performance of the Commitment Letter shall conform to and be bound by this Supplemental
Agreement, and Sohu Inc. will only assume its obligations under the Commitment Letter within the aggregate line of credit of not more than RMB 600 million yuan (RMB six hundred million yuan in words) as agreed in Article 3 of this Supplemental
Agreement and will be subject to the adjustment of Article 3 Para. 2.
		
	Article 8	  	The Parties agree that, adjustments to the Transaction Documents and the collateral thereunder in accordance with this Supplemental Agreement do not constitute any breach of the Transaction Documents.
		
	Article 9	  	Where there is any conflict between the Transaction Documents and this Supplemental Agreement, the latter shall prevail. With respect to matters not covered herein, Transaction Documents shall apply.
		
	Article 10	  	This Supplemental Agreement is made in quadruplicate and will come into force upon valid execution by the Parties.

 [The remainder of this page is intentionally left blank for signature.] 

 [This page is intentionally left blank and serves as the signature page of this Supplemental Agreement.]

  

					
	Ping An Bank Co., Ltd. Tianjin Pilot Free Trade Zone Branch (seal)	 		 	Beijing Sohu New Media Information Technology Co., Ltd. (seal)
			
	Authorized Representative:	 		 	Authorized Representative:
			
	 /s/ Wang Lu
	 		 	 /s/ Charles Zhang

			
	Fox Information Technology (Tianjin) Limited (seal)	 		 	Tianjin Jinhu Culture Development Co., Ltd. (seal)
			
	Authorized Representative:	 		 	Authorized Representative:
			
	 /s/ Wei Li
	 		 	 /s/ James Deng

			
	Beijing Sohu New Momentum Information Technology Co., Ltd. (seal)	 		 	Beijing Sohu New Era Information Technology Co., Ltd. (seal)
			
	Authorized Representative:	 		 	Authorized Representative:
			
	 /s/ James Deng
	 		 	 /s/ Charles Zhang

			
	Sohu.com (Game) Limited	 		 	Sohu.com Inc
			
	Authorized Representative:	 		 	Authorized Representative:
			
	 /s/ Charles Zhang
	 		 	 /s/ Joanna Lv

 Annex I: 

List of Collateral 
  

			
	Collateral Description, quantity, and quality condition	  	 Collateral:
  

Room 802 and whole floors of Floors 9, 11, 12, and 13 of Building 9 located at No. 1, Zhongguancun East Road,
Haidian District, Beijing.
  
 Description: land
use right and property ownership of the real estate
  

Total area of the land use right: 2,866.46 m2

 
 Total building area of the property ownership:
11,679.19 m2
  

Where:
  

Room 802:
  

•    Area of land use right: 299.66
m2
  

•    Building area of the property ownership: 1,220.92 m2
  

Floor 9:
  

•    Area of land use right: 639.37
m2
  

•    Building area of the property ownership: 2,605.08 m2
  

Floor 11:
  

•    Area of land use right: 641.44
m2
  

•    Building area of the property ownership: 2,613.51 m2
  

Floor 12:
  

•    Area of land use right: 642.48
m2
  

•    Building area of the property ownership: 2,617.73 m2
  

Floor 13:
  

•    Area of land use right: 643.51
m2
  

•    Building area of the property ownership: 2,621.95 m2
  

Condition: good

							
	Ownership of the collateral or the ownership of the use right of the collateral and property ownership certificates and their numbers	  	 Collateral:
  

Room 802:
  

•    Property ownership certificate: Jing Fang Quan Zheng Shi Hai Gang Ao Tai Zi
No. 4840002
  

•    Land use right certificate: Jing Shi Hai Gang Ao Tai Guo Yong (2007 Chu)
No. 6016656
  
 Floor 9:

 
 •    Property ownership
certificate: X Jing Fang Quan Zheng Hai Zi No. 382489
  

•    Land use right certificate: Jing Hai Qi Guo Yong (2013 Chu) No. 0700531

 
 Floor 11:

 
 •    Property ownership
certificate: Jing Fang Quan Zheng Shi Hai Gang Ao Tai Zi No. 4840005
  

•    Land use right certificate: Jing Shi Hai Gang Ao Tai Guo Yong (2007 Chu)
No. 6016655
  
 Floor 12:

 
 •    Property ownership
certificate: Jing Fang Quan Zheng Shi Hai Gang Ao Tai Zi No. 4840006
  

•    Land use right certificate: Jing Shi Hai Gang Ao Tai Guo Yong (2007 Chu)
No. 6016654
  
 Floor 13:

 
 •    Property ownership
certificate: Jing Fang Quan Zheng Shi Hai Gang Ao Tai Zi No. 4840007
  

•    Land use right certificate: Jing Shi Hai Gang Ao Tai Guo Yong (2007 Chu)
No. 6016659

		
	Location of the collateral	  	Room 802 and whole floors of Floors 9, 11, 12, and 13 of Building 9, No. 1, Zhongguancun East Road, Haidian District, Beijing.
		
	Value of the collateral	  	RMB (currency) 680 million yuan
				
	Share of the pledger in the collateral	  	100%	  	Name of other common proprietors (in the case of joint ownership)	  	N/A

							
	Other conditions of the collateral	  	Lease. An area of 10,948.34 m2 is leased to Beijing Sogou Technology Development Inc.
		
	Remarks	  	

 The pledger warrants that the representations above are true, accurate, and complete. Where the collateral becomes invalid
or insufficient due to misrepresentation or material omission, which results in damages to the rights and interests of the principal creditor, the pledger is willing to assume several and joint liability for all debts of the debtor under the master
agreement.EX-10.2

 Exhibit 10.2 

English Translation 
 No:
  0020001453-2017(FAS)00000001         
 Credit Agreement 

Important: This contract is made by the parties hereto on the basis of equality and voluntariness according to law. All provisions hereof are true
expression of intents of the parties hereto. In order to protect the legitimate right and interest of the applicants, the investor hereby reminds the applicants to give full attention to the part hereof in bold. 

  
 1 

 Investor: Financial Plan Agent of Private Bank, Industrial and
Commercial Bank of China Limited 
 Legal representative/principal: Ma Jian 

Address: 6/F, No. 24, Zhongshan East 1st Road, Huangpu District, Shanghai 200002 

Contact: Ye Wu    Tel: 021-23229500 

Project Manager: Beijing Branch, Industrial and Commercial Bank of China Limited 

Legal representative/principal: Shi Gang 
 Address:
Tower B, Tianyin Building, No. 2 Fuxingmen South Street, Xicheng District, Beijing 100031 
 Contact: Xu
Chuanjiang    Tel: 010-66410055-2700 
 Applicant 1: Beijing Sohu New Media
Information Technology Co., Ltd. 
 Legal representative: Charles Zhang 

Address: Room 802, 8/F, Sohu Network Plaza, Block 9, No. 1 Zhongguancun East Road, Haidian District, Beijing 100084 

Contact: Huang Pu     Tel:
010-62726666                 

Applicant 2: Fox Information Technology (Tianjin) Limited. 

Legal representative: Wei Li 
 Address: Room 210-01, 2/F, Tower C, Office Building of Integrated Service Area, Nangang Industrial Zone, Tianjin Economic-Technological Development Area 300000 

Contact: Huang Pu     Tel:
010-62726666                 
 Applicant 3: Beijing Sohu
New Momentum Information Technology Co., Ltd. 
 Legal representative: James Deng 

Address: Room 02, 12/F, Sohu Network Plaza, Block 9, No. 1 Zhongguancun East Road, Haidian District, Beijing 100190 

Contact: Huang Pu     Tel:
010-62726666                 
 Upon friendly consultation, the
Investor, the Project Manager and the Applicants hereby enter into this agreement for their joint observation in respect of the debt investment by the Investor in the Applicants, and the entrustment on the Project Manager to use, supervise and
manage fully the assets and invested fund under the debt investment. 

  
 2 

	1.	Currency and Amount of Investment 

 The amount of debt investment hereunder is RMB
eight hundred million only (in words) (in figures:¥800,000,000.00) (in case of any discrepancy between the amount in words and in figures, the former shall prevail). 

 

	2.	Term of Debt Investment 

 The term of the debt investment hereunder is 36 months,
starting from the date of actual drawdown by the Applicants which shall be subject to by the Notice of Debt Investment. 
  

	3.	Interest Rate of Financing and the Calculation Method 

  

	 	3.1	The interest rate of the financing hereunder shall be the one specified in Subparagraph (2): 

  

	 	(1)	Fixed financing interest rate at    /    % per year, which shall remain unchanged during the term of this agreement. 

 

	 	(2)	Floating financing interest rate which shall be determined by the Loan Prime Rate (“LPR”) for loans with term of up to one year, subject to quarterly adjustment, plus 1.2%. The initial rate is 5.5%, and the
adjustment date is the 21st day of the last month of each quarter. 

  

	 	(3)	    /    % of the total investment amount will be paid in one lump sum on the first interest payment date after the investment, and the subsequent rate during the existing
period of the financing will be determined by             /            . (The floating way and adjustment date should
be specified.) 

  

	 	3.2	The interest of the debt investment hereunder shall accrue on a daily basis from the actual drawdown date, and settled on the 20th day of the last month of each
quarter. The 1st working day after the interest settlement date is the interest payment date. When the investment expires, the interest shall be settled and paid together the principal. The daily
rate equals to the annual rate divided by 360. 

  

	 	3.3	If the Applicants prepay the investment amount hereunder upon consent of the Investor, the interest will be calculated according to the actual number of days of using the investment amount. 

 

	4.	Investment Purpose 

 The amount of debt investment hereunder shall be used for daily
operation and turnover, and will not be used for other purpose by the Applicants without written consent of the Investor. The Investor and the Project Manager has the right to supervise the use of the investment amount. 

  
 3 

	5.	Conditions for Drawdown 

 The Applicants shall meet the following conditions for drawing
down the investment amount. Otherwise, the Investor has the right to reject any application of drawdown. 
  

	 	5.1	The Applicants have submitted the business license affixed with common seals to the Project Manager; 

  

	 	5.2	This agreement and relevant exhibits have officially become effective; 

  

	 	5.3	Except for the debt investment without security, the Applicants have provided corresponding security according to this agreement, the registration formality of such security has been completed, and no adverse change has
occurred to the Investor; 

  

	 	5.4	The representations and warranties of the Applicants hereunder continue to be true, accurate and complete; 

  

	 	5.5	The Applicants have opened the accounts for receipt and payment of fund, payment of interest, payment of costs, and repayment; 

  

	 	5.6	The Applicants have provided the Investor and the Project Manager with the authorization or approval required for execution of this agreement; 

 

	 	5.7	The Applicants have no breaching event under this agreement or other financing documents to which they are bound; 

  

	 	5.8	Other investment conditions provided by laws or agreed by the parties hereto. 

  

	6.	Drawdown of Investment Fund 

  

	 	6.1	The Applicants shall draw down the investment fund in installments based on their respective need of fund utilization. The first installment shall be drawn down before December 31, 2017, and the last installment
shall be drawn down before March 31, 2018. Otherwise, the Investor has the right to cancel the investment in whole or in part. The Applicants shall issue written drawdown notice to the Project Manager 5 working days before the drawdown.

  
 4 

	 	6.2	The Investor shall promptly transfer the investment fund to the following account of the Applicant through the account of the Project Manager after the Project Manager examines and confirms that the conditions for
drawdown of investment fund have been met: 

  

	 	(1)	The account of the Project Manager: 

 Account name: other payables – transition fund to
be settled – exclusively for branch (settlement account exclusively for assets management fund) 
 Name of bank: Beijing Branch,
Industrial and Commercial Bank of China Limited 
 Account No.: 0200099811200503118 

 

	 	(2)	The account of Applicant 1: 

 Account name: Beijing Sohu New Media Information Technology
Co., Ltd. 
 Name of bank: Beijing Branch, Industrial and Commercial Bank of China Limited 

Account No.: 0200000319200068268 
  

	 	6.3	Once the debt investment fund hereunder is transferred into the account of the Applicants, it will be deemed that the Investor has issued and the Applicants have drawn down the investment fund. 

 

	 	6.4	The Investor has the right to refuse or continue to invest any investment fund not drawn down on the drawdown date owing to any reason of the Applicants. The Applicants shall pay liquidated damages at 0% of the
investment fund not drawn down in one lump sum to the Project Manager, and the Project Manager shall transfer such fund to the account designated the Investor. However, the fund drawn down shall remain governed by the provisions hereof.

  

	 	6.5	The execution of this agreement shall not mean that the Investor is obligated to make debt investment in the Applicants. The investment fund may be drawn down only when the conditions for drawdown herein are met and the
Notice of Debt Investment is signed and delivered to the Applicants. 

  

	7.	Repayment of Investment Fund 

  

	 	7.1	The Applicants shall repay the debt investment fund hereunder in the way specified in Subparagraph (2) below: 

  

	 	(1)	The debt investment shall be repaid in one lump sum when it becomes mature; or 

  

	 	(2)	The Applicants shall repay the principal of the “debt investment” hereunder in the original currency within the debt investment term specified herein strictly according to the repayment plan below:

 Repaying 25% of the principal on the expiration of 18 months after the actual drawdown date, and repaying 25% on the
expiration of every 6 months thereafter (for purpose hereof, the period of a month ends on the date of next month corresponding to the drawdown date; in the absence of the corresponding date, the period of a month ends on the first natural date of
the second natural month. For example, if the first drawdown date is August 31, the first repayment date will be March 1, the second repayment date August 31, and so on.) 

  
 5 

 Where the Applicants draw down in installments, the repayment date for each installment of the
principal of investment fund will be determined based on the actual drawdown date. All the principal shall be repaid on or before expiration of 36 months after the first actual drawdown date. 

 

	 	7.2	The Applicants shall timely and fully repay the principal, interest and other payables with respect to the debt investment according to this agreement. If the Applicant’s repayment is insufficient to cover all due
amounts, the Investor has the right to determine the order of discharge. 

  

	 	7.3	If the Applicants apply to prepay the debt investment fund in whole or in part, they shall submit written application to the Project Manager 20 working days in advance, and may so prepay only after the Project Manager
notifies and obtains consent from the Investor. 

  

	 	7.4	Where the Investor consents to prepayment, the Applicants shall pay off the principal, interest and other payable amount (if any) with respect to the investment fund due and payable as of the prepayment date
according to this agreement on the prepayment date. 

  

	 	7.5	If the investment term is shortened owing to prepayment by the Applicants or the early collection by the Investor of the investment fund according to this agreement, the interest rate shall not be adjusted, and the
original rate shall apply. 

  

	8.	Security for Financing 

  

	 	8.1	The debt investment hereunder is an investment secured. 

  

	 	8.2	The security agreement shall be entered into separately between the Project Manager or its branch on behalf of the Investor and the Applicants. 

 

	9.	Rights and Obligations of the Investor 

  

	 	9.1	According to this agreement, the Investor has the right to receive the principal, interest and other payables repaid by the Applicants with respect to the debt investment. 

  
 6 

	 	9.2	In order to protect the safety of the debt investment fund, the Investor has the right to entrust the Project Manager to manage the investment project, and to supervise the use by the Applicants of the debt investment
fund. 

  

	 	9.3	Where the Investor consents prepayment by the Applicants, it shall notify the Project Manager in writing, and go through the formality of prepayment of the debt investment fund for the Applicants. 

 

	 	9.4	Where the operation of any Applicant deteriorates, any breach under this agreement occurs, or other situation occurs which may endanger the safety of the debt investment fund, the Investor has the right to instruct the
Project Manager to collect the debt investment fund early, file a lawsuit or take other measures, to protect the safety of the investment fund. 

  

	 	9.5	The Investor has the right to demand the Applicants to repay the investment principal or interest directly or through the Project Manager, or to file a lawsuit according to law. 

 

	 	9.6	The Investor shall assume the rights relating to the debt investment by itself, and may not request the Project Manager to assume such risk in any forms. Where the Applicants are unable to repay the investment principal
or interest on time, the Investor may not request the Project Manager to assume the liability of repayment. 

  

	10.	Entrustment of Project Management 

  

	 	10.1	The Project Manager shall transfer promptly the investment principal and interest and other payables to the account designated by the Investor according to the requirements of the Investor, and note such transfer on the
fund transfer certificate. 

 Name of account: special account for trust of Zhenjiang Branch, financial product of private
bank, Industrial and Commercial Bank of China Limited 
 Name of bank: Hangzhou Chengzhan Sub-branch,
Zhenjiang Branch, Industrial and Commercial Bank of China Limited 
 Account No.: 1202027729900188724 

 

	 	10.2	The Project Manager accepts entrustment of the Investor to manage and supervise the debt investment project and the investment fund hereunder, which includes the following matters: 

 

	 	(1)	due diligence of the capacity and financing reason of the Applicants; 

  

	 	(2)	assisting the Investor to investigate the guarantee capability of the guarantor, the title and value of the mortgaged or pledge property, and the possibility of realizing the mortgage or pledge, if the investment
hereunder is secured; 

  
 7 

	 	(3)	examining the realization of the conditions for drawdown of the debt investment fund, and supervising and inspecting whether the Applicants use the investment fund according to this agreement; 

 

	 	(4)	monitoring and inspecting continuously the production, operation and financial condition of the Applicants, and requesting the Applicants to provide financial statements and other reports, statements or documents
reflecting their production, operation and financial condition; 

  

	 	(5)	notifying promptly the Investor any breach of the Applicants hereunder; 

  

	 	(6)	reporting regularly to the Investor the use by the Applicants of the debt investment fund, and providing the Investor with the project management report on a monthly/quarterly basis during the term of this agreement. If
the account monitored by the Project Manager becomes subject to property preservation or execution or other situation which may have material adverse effect on the asset condition of the Applicants, the Project Manager shall notify the Investor in
writing of such situation within 5 working days after knowing thereof. 

  

	 	(7)	Demanding in writing the Applicants or the guarantor to repay the investment principal or interest, when the Applicants fail to repay the investment principal or interest on time, and reporting the condition of the
demand to the Investor; 

  

	 	(8)	Taking measures at the instruction of the Investor, including filing a lawsuit or exercising security, to recover the investment principal and interest, and avoid the occurrence or increase of investment loss.

  

	 	10.3	Where the Project Manager locates in any place other than the place of the Applicants, it may delegate part of the debt investment management work to its business outlets at the place of the Applicants. The Project
Manager shall be responsible for the acts of such outlets. 

  

	 	10.4	Where the debt investment hereunder is secured, the Investor entrusts the Project Manager (or its branches) to enter into relevant security agreements with the security providers, and go through required notarization or
registration formalities. The costs therefor shall be borne by the Applicants, unless relevant laws and regulations provide otherwise. 

  
 8 

	11.	Representations and Warranties of Applicants 

 The Applicants represent and warrant to
the Investor and the Project Manager as follows, and shall maintain such representations and warranties effective during the term of this agreement: 
  

	 	11.1	They have the capacities to apply for the debt investment hereunder, and have the capacity and power to enter into and perform this agreement. 

 

	 	11.2	They have obtained the authorizations or approvals required for execution of this agreement, and execution or performance of this agreement does not breach their respective articles of association and relevant laws and
regulations, nor contradict to any obligations of them under other contract or agreement. 

  

	 	11.3	They have paid other debts in a timely manner, and do not delay maliciously payment of any debt or have any cross-breach situation. 

  

	 	11.4	They have sound organization and financial management system, has not committed any violations during their production and operation in recent 1 year, and their current officers have no material bad record.

  

	 	11.5	All documents and information provided by them to the Investor and the Project Manager are true, accurate, complete and valid, and free of any false record, material omission or misleading statement. 

 

	 	11.6	The financial and accounting reports provided to the Investor and the Project Manager are prepared according to China accounting standards, and truthfully, fairly and completely reflect the operation and liability
condition of the Applicants. No material adverse change has occurred to the financial condition of the Applicants since the date of the latest financial and accounting report. 

 

	 	11.7	They have not concealed any litigation, arbitration or claim involving them from the Investor or the Project Manager. 

  

	 	11.8	Other situation that may affect the financial condition or the repaying ability of the Applicants. 

  
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	12.	Covenants of the Applicants 

 The Applicants covenant to the Investor and the Project
Manager as follows, and shall maintain such covenants effective during the term of this agreement: 
  

	 	12.1	They will drawdown and use the debt investment fund according to the term and purpose hereof, and will not invest such fund in securities market or futures market or for any other purpose prohibited or restricted by
relevant laws and regulations. 

  

	 	12.2	They will repay the principal, interest and other payables with respect to the debt investment fund according to this agreement. 

  

	 	12.3	They will provide relevant financial statements and other reports, statements and documents reflecting the operational and financial condition of the Applicants according to the requirements of the Investor and the
Project Manager. 

  

	 	12.4	If they have signed or will sign any counter-security agreement or similar agreement with the security provider hereunder in respect of the security obligation, such agreements will not damage any right of the Investor
or the Project Manager hereunder. 

  

	 	12.5	They will accept inspection and supervision of the Investor and the Project Manager, provide information of their production, operation and property, and give effective and full assistance and cooperation.

  

	 	12.6	When they undergo any material change of property and/or adjustment of operational way, they must obtain the consents of the Investor and the Project Manager in advance, and guarantee realization of the interest of the
Investor and the Project Manager hereunder. 

  

	 	12.7	They will not dispose of their assets by reducing their ability of repayment, and they will obtain written consents from the Investor and the Project Manager before providing guarantee or creating mortgage or pledge
over their assets in favor of any third party. 

  

	 	12.8	They will promptly notify the Project Manager when any of the following events occurs: 

  

	 	(1)	Any breach occurs under this agreement or other contract or agreement; 

  

	 	(2)	Any change of affiliation relation or officer, amendment to articles of association, or material adjustment of internal organization occurs, or the main industrial and commercial registration items, including domicile,
principal place of business, correspondence address, business cope, and legal representative, are changed; 

  
 10 

	 	(3)	The operation encounters difficulty, or the financial condition deteriorates; 

  

	 	(4)	They are involved in any material litigation or arbitration; 

  

	 	(5)	Other circumstances occur, which may affect their ability of paying debts. 

  

	 	12.9	They will not distribute dividend or bonus in whatever forms before repaying the due investment principal and interest and other payables hereunder. 

 

	 	12.10	The debts hereunder enjoy preference of repayment over any other debts owed by the Applicants to their shareholders, legal representatives, principals, main investors or key officers, and at least have equal status with
similar debts owed by the Applicants to other creditors. 

  

	 	12.11	They will unconditionally cooperate with the management by the Project Manager of the project. 

  

	13.	Liabilities for Breach of Contract 

  

	 	13.1	It will constitute a breach of contract if any of the following circumstances occurs to any Applicant: 

  

	 	(1)	The Applicant fails to repay the investment principal or interest or other payables hereunder, fails to perform any other obligation hereunder, or breaches any representation, warranty or covenant; 

 

	 	(2)	The security hereunder has any change adverse to the creditor’s rights hereunder, and no other security approved by the Investor and the Project Manager is provided 

 

	 	(3)	The Applicant fails to repay other due debts (including the debt declared due immediately), or defaults or breaches any obligation under other agreement, which has already affected or may affect performance of its
obligations hereunder; 

  

	 	(4)	The Applicant’s profitability, capability of paying debts and operation, or the financial indicator (including cash flow) violates the agreed standards or deteriorates, which has already affected or may affect
performance of its obligations hereunder; 

  

	 	(5)	Any material adverse change occurs to the Applicant’s production, operation, investment or shareholding structure, and has already affected or may affect performance of its obligations hereunder; 

  
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	 	(6)	The Applicant is or may be involved in any material economic dispute, litigation, or arbitration, or its assets are sealed up, attached or executed, or it is subject to investigation or penalties by judicial or
administrative authorities, or it is reported by media for violating any national regulations or policies, which has already affected or may affect performance of its obligations hereunder; 

 

	 	(7)	Its main investor or key officer is changed, missing or subject to investigation or restriction of personal freedom by judicial authority according to law, which has already affected or may affect performance of its
obligations hereunder; 

  

	 	(8)	It fraudulently obtains fund of the Investor by using any false contract with its affiliates or any false transaction without actual substance, or it intentionally avoids any creditor’s rights through related party
transactions; 

  

	 	(9)	It has been or may be wound-up, dissolved, liquidated, ordered to stop business for rectification, cancelled business license or revoked, or it has applied or been applied, or may
apply or be applied, for bankruptcy; 

  

	 	(10)	It breaches any provisions of the Agreement on Fund Use and Account Supervision it entered into with the Project Manager; 

  

	 	(11)	It breaches the laws and regulations, regulatory rules or industrial standards relating to food safety, safe production, environment protection and management of other environmental or social risks, and thus causes any
accidents or serious environment or social risk events, which has already affected or may affect performance of its obligations hereunder; 

  

	 	(12)	The self-owned fund for the project fails to be put into the project according to the agreed schedule or percentage, or fails to be supplemented within the time specified by the Investor; 

 

	 	(13)	It fails to complete the project construction on schedule, or material adverse change occurs to the project construction, operational environment or condition; 

 

	 	(14)	If the investment hereunder is made on the basis of credit, the indicators of the Applicant, such as credit level, profitability, asset-liability ratio, operational activities, and net cash flow, no longer meet the
credit investment conditions of the Investor; without written consent of the Investor, or the Applicant creates mortgage or pledge or otherwise provides security over its effectively operated assets in favor of others, which has already affected or
may affect performance of its obligations hereunder; 

  
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	 	(15)	Other circumstance where the realization of the Investor’s creditor’s rights hereunder may be affected adversely. 

  

	 	13.2	Where any Applicant breaches this agreement, the Project Manager has the right to take one or more of the measures below at the instruction of the Investor to ensure timely recovery of the investment principal and
interest: 

  

	 	(1)	Requesting the Applicant to correct its breach within the specified period; 

  

	 	(2)	Stopping issuance of investment fund or other financing amount to the Applicant according to this agreement; 

  

	 	(3)	Declaring the outstanding investment fund and other financing amount hereunder or under other contract/ agreement between the Investor/ the Project Manager and the Applicant become due immediately, and recovering the
outstanding amounts immediately; 

  

	 	(4)	Requesting the Applicant to compensate any loss suffered by the Investor from its breach; 

  

	 	(5)	Other measures provided by laws, regulations or this agreement, or the Investor deems necessary. 

  

	 	13.3	If the debt investment becomes due (including being declared as due immediately) and the Applicant fails to repay as agreed, the Project Manager has the right to charge penalty interest against the Applicant from the
overdue date. The rate of the penalty interest shall be the original financing rate plus 50%. Compound interest shall be charged at the penalty interest rate on the interest not paid by the Applicant on time. 

 

	 	13.4	If the Applicant fails to use the debt investment fund for the purpose specified herein, the Project Manager shall charge penalty interest on the fund thus used from the date of use. The rate of the penalty interest
shall be the original financing rate plus 50%. Compound interest shall be charged at the penalty interest rate on the interest not paid on time during the period of use. 

 

	 	13.5	If the Project Manager fails to promptly transfer the principal and income collected from the Applicants to the Investor according to this agreement, the Project Manager shall pay the Investor liquidated damages at the
daily rate of 0.05% according to the amount and period of breach. 

  
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	 	13.6	If the Project Manager fails to perform prudently its duties of managing debt investment and thus causes any loss to the Investor, it shall assume corresponding liability for breach of contract. 

 

	14.	Deduction 

  

	 	14.1	If any Applicant fails to repay the debt investment fund due hereunder (including the fund declared as due immediately) according to this agreement, the Investor has the right to deduct directly or by entrusting the
Project Manager corresponding amount from all RMB or foreign currency accounts opened by the Applicant with the Project Manager or other branches of Industrial and Commercial Bank of China to discharge the debt, until all debts of the Applicant
hereunder are fully repaid. 

  

	 	14.2	If the currency of the deducted amount is different from the currency of this agreement, a conversion will be made at the exchange rate of the Project Manager applied on the date of the deduction. The Applicant shall be
responsible for any interest and other costs arising from the deduction date to the repayment date (the date when the Project Manager convert the deducted amount into the currency of this agreement according to the national policies on management of
foreign currency, and actually repays the debts hereunder) and the difference resulted from fluctuation of exchange rate during the above period. 

  

	 	14.3	Where the deducted amount is insufficient to repay all debts of the Applicant, the Investor has the right to determine the order of discharge. 

 

	15.	Information Disclosure 

 The Applicants agree that the Investor, as the manager of its
raised and issued bank financial plan, may provide or disclose information and documents relating to the project and this agreement to the competent authorities and the investors of its financial products according to laws, regulations, regulatory
requirements and the procedure, scope and content of relevant agreement relating to the financial plan, to perform its duties and obligations in the laws, regulations, regulatory requirements and relevant agreement relating to the financial plan,
including but not limited to the Applicants, the project name, period, transaction structure, and distribution of income and so on. The Applicants shall provide necessary assistance for the Investor to perform such duties and obligations. 

  
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	16.	Costs 

  

	 	16.1	The Applicants shall assume the taxes and costs relating to execution and performance of this agreement, including but not limited to the costs for appraisal, registration, certification, notarization, and security,
unless the laws and regulations provide otherwise. The Investor and the Project Manager shall assume their respective consulting costs (including but not limited to the costs for accounting and legal consultation) arising out of this agreement and
project appraisal. 

  

	 	16.2	Where any dispute or litigation arises from any breach of the Applicant, the Applicant shall assume the attorney’s fee, the litigation cost, the cost for realizing the creditor’s right, and other cost for
resolving the dispute or litigation. 

  

	17.	Service of Notice 

 All notices or communications hereunder shall be delivered in
writing. In case of personal delivery or delivery by mail, the notices or communications shall be deemed delivered when the recipient signs off; in case of delivery by fax, the notices or communications shall be deemed delivered when receiving the
other party’s fax response. 
  

	18.	Effectiveness, Modification and Termination 

  

	 	18.1	This agreement shall become effective when the competent signatories or authorized signatories of the parties hereto sign and affix their respective common seals, and terminate when the rights and obligations of the
parties hereto in this agreement are fully exercised and performed. 

  

	 	18.2	Any amendment to this agreement shall be made in writing upon unanimous consents of the parties hereto. The amendment provision or agreement constitutes an integral part of this agreement, and has equal legal force as
this agreement. Except for the amended part, the remaining provisions of this agreement remain valid. The amended provision shall remain valid before the amendment becomes effective. 

 

	 	18.3	No amendment to or termination of this agreement shall affect any party’s right for damages. The termination of this agreement shall not affect the validity of the provisions relating to dispute resolution.

  
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	19.	Applicable Law and Dispute Resolution 

  

	 	19.1	The execution, validity, interpretation, performance and dispute resolution relating to this agreement shall be governed by the laws of the People’s Republic of China. 

 

	 	19.2	The parties shall resolve by consultation any dispute or controversy arising out of or relating to this agreement. If consultation fails, or the parties cannot reach an agreement, the way specified in Subparagraph
(2) below shall apply: 

  

	 	(1)	The dispute shall be submitted to the arbitration commission of             /             ,
and resolved by arbitration according to the arbitration rules of the commission then in effect. The arbitration shall be conducted at             
/            (arbitration place). The arbitration award is final and binding upon the parties to the dispute. 

 

	 	(2)	The dispute shall be resolved by the court at the place of the Investor. 

  

	20.	Other Matters 

  

	 	20.1	Beijing Sohu New Media Information Technology Co., Ltd., Fox Information Technology (Tianjin) Limited., and Beijing Sohu New Momentum Information Technology Co., Ltd. are the joint Applicants for the financing. Among
others, Beijing Sohu New Media Information Technology Co., Ltd. enjoys the right of drawdown of RMB200 million, and Fox Information Technology (Tianjin) Limited enjoys the right of drawdown of RMB600 million. The above three companies
shall jointly be responsible for repayment of the financed amount. 

  

	 	20.2	The three Applicants open settlement accounts at Industrial and Commercial Bank of China Limited. During the financing period, they shall gradually transfer the settlement of their business to Industrial and Commercial
Bank of China Limited. During the financing period, the collection amount of sales income in their settlement accounts shall reach 30% of the current sales amount of the Applicants. If the above provisions are breached, Industrial and Commercial
Bank of China Limited has the right to declare that the Applicants are in default, and may request the Applicants to prepay the financing principal and interest. 

  

	 	20.3	The Applicants shall ensure that the balance in their accounts at Industrial and Commercial Bank of China Limited 10 days before payment of the financial principal and income for the current period is not less than the
amount of payable principal and income for the period. 

  
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	 	20.4	During the financing period, except for the existing security and investment, Beijing Sohu New Media Information Technology Co., Ltd., Fox Information Technology (Tianjin) Limited., and Beijing Sohu New Momentum
Information Technology Co., Ltd. may not provide other security for others, or raise new financing, provide security or investment by using the mortgaged property for this financing, without written consent of Industrial and Commercial Bank of China
Limited. 

  

	21.	Counterparts 

 This agreement is made in five counterparts. Each of the Investor and the
Project Manager will hold one counterpart, and each Applicant will hold one counterpart. All counterparts have equal legal force. 
 Investor (seal):
Financial Plan Agent of Private Bank, Industrial and Commercial Bank of China Limited 
 Legal representative/ principal (authorized signatory):
/s/ Ma Jian  
 Project Manager (seal): Beijing Branch, Industrial and Commercial Bank of China Limited 

Legal representative/ principal (authorized signatory): /s/ Wang Xusheng 

Applicant 1 (seal): Beijing Sohu New Media Information Technology Co., Ltd. 

Legal representative (authorized signatory): /s/ Charles Zhang 

Applicant 2 (seal): Fox Information Technology (Tianjin) Limited. 

Legal representative (authorized signatory): /s/ Wei Li 

Applicant 3 (seal): Beijing Sohu New Momentum Information Technology Co., Ltd. 

Legal representative (authorized signatory): /s/ James Deng 

Date of execution: September 7, 2017 

  
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