Document:

EX-4.59

 Exhibit 4.59 

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 by and among
the following parties in Beijing, PRC on October 18, 2016: 
  

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

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

		
	 Party B:
	  	 Zhixiang Liang

	 ID No.:
	  	
		
	 Party C:
	  	 Beijing BaiduPay Science and Technology Co., Ltd.

	 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 human resources in information technology and services; 

2. Party C, a liability limited company incorporated in the PRC, is licensed by is licensed by Beijing Communications Administration to carry
out the business of value-added telecommunication services such as Internet information services; 
 3. Party B is the shareholder of Party
C, owning 5.418% equity interests in Party C (the “Equity Interest”); 
 4. Party A and Party B entered into an
Amended and Restated Loan Agreement dated October 18, 2016, whereby Party B obtains an interest-free loan up to RMB216,720,000 (the “Loan Arrangement”) in connection with his investment in Party C; 

5. Party A and Party C entered into an Exclusive Technology Consulting and Service Agreement dated February 28, 2008, and then a
Supplement to the Exclusive Technology Consulting and Service Agreement dated April 22, 2010, a Supplement II to the Exclusive Technology Consulting and Service Agreement and a Supplement Agreement, both dated September 6, 2011, to make
supplement to the Exclusive Technology Consulting and Service Agreement (collectively, the “Services Agreements”); 

6. Party A and Party B entered into an Amended and Restated Equity Pledge Agreement (the “Equity Pledge Agreement”)
dated October 18, 2016; and 

  
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 7. The Parties have entered into an Amended and Restated Exclusive Equity Purchase and Transfer
Option Agreement dated December 22, 2015 (the “Original Exclusive Option Agreement”). The Parties hereby agree to enter into this Agreement to amend and restate the Original Option Agreement, and this Agreement will
replace and substitute the Original Option Agreement as of the date of its effectiveness. 
 NOW, THEREFORE, the Parties agree as follows through
negotiations and to be bound hereby: 
  

	1.	 Purchase and Sale of Equity Interest  

1.1 Granting of Rights 
 Party B
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 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 granting of the Option by Party B to Party A and/or the Designated Persons. For purpose of this Section 1.1 and this Agreement, “person” means
individual, corporation, joint venture, partnership, enterprise, trust or unincorporated 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
“Option 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: 

  
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 1.4.1 The Transferor shall, in accordance the terms and conditions of this Agreement and the
Option 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 the 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. For purpose of this Section 1.4.2 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 
 Payment of the
Purchase Price shall be determined through negotiations between Party A and/or the Designated Persons and the Transferor in accordance with then applicable laws upon 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 any tax and other fees paid by the Transferor in connection with the
proposed transaction contemplated under the transfer agreement). 
  

	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; 

  
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 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 covenants: 

2.3.1 If Party C needs any loan or other capital support in its business, under acceptable and reasonable scope, Party A shall provide capital
support; and 
 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 date of this Agreement and each 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 (the
“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; 

  
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 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; 
 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 shall come into force when it is duly executed by each of the Parties and expires when all Equity Interest held by Party B
is transferred to Party A and/or Designated Persons in accordance with 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. 

  
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	6.	 Applicable Law and Dispute Resolution  

6.1 Applicable Law 
 The
formation, validity, interpretation and performance of and resolution of any dispute arising from 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 (10th) day following the mailing date of the registered mail by air (marked by seal)
or shall be the fourth (4th) 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. 
  

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

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

	 Facsimile:
	  	 010-59928888

	 Telephone:
	  	 010-59928888

  
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	 Party B:
	  	 Zhixiang Liang

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

	 Facsimile:
	  	 010-59927435

	 Telephone:
	  	 010-50817917

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

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

	 Facsimile:
	  	 010-59928888

	 Telephone:
	  	 010-59928888

  

	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: 

 

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

  

	 	b.	 Materials required to be disclosed by the applicable laws or rules of the stock exchange; and

  

	 	c.	 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 Article 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. 

  
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 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. 
  

	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 counterparts 

This Agreement is executed in Chinese in three originals; each Party holds one original and each original 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. 

[No text below] 

  
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 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. 
  

			
	 Party A: Baidu Online Network Technology (Beijing) Co., Ltd.
	 	
		
	 /s/: Hailong Xiang
	 	
		
	 Seal of Baidu Online Network Technology (Beijing) Co., Ltd.
	 	
		
	 Party B: Zhixiang Liang
	 	
		
	 /s/: Zhixiang Liang
	 	
		
	 Party C: Beijing BaiduPay Science and Technology Co., Ltd.
	 	
		
	 /s/: Zhixiang Liang
	 	
		
	 Seal of Beijing BaiduPay Science and Technology Co., Ltd.
	 	

  
 10EX-4.60

 Exhibit 4.60 

Amended and Restated Loan Agreement 

This Amended and Restated Loan Agreement (this “Agreement”) is entered into on October 18, 2016 in Beijing, by and between:

  

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

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

	Party B:	Zhixiang Liang 

 ID No.: 

WHEREAS: 
  

	 	1.	 Party A is a foreign invested enterprise incorporated under the laws of the PRC; 

 

	 	2.	 Party B is a Chinese citizen, holding 5.418% of equity interests in Beijing BaiduPay Science and Technology
Co., Ltd. (“BaiduPay”), and is a shareholder of BaiduPay; 

  

	 	3.	 On December 22, 2015, Party A provided Party B with an interest-free loan of RMB90 million in connection
with its investment in BaiduPay. With regards to such loan, Party A and Party B enter into an Amended and Restated Loan Agreement dated December 22, 2015 (the “Original Loan Agreement”); and 

 

	 	4.	 The Parties intend to amend and restate the Original Loan Agreement agreed herein. 

NOW, THEREFORE, Party A and Party B agree as follows through negotiations and to be bound hereby: 

 

	 	1.	 Subject to the terms and conditions of this Agreement, Party A agrees to provide, and Party B agrees to
accept, an interest-free loan in the amount of RMB216,720,000.00. 

  

	 	2.	 Party B confirms receipt of such loan and has applied the entire loan amount to pay his investment in
BaiduPay. 

  

	 	3.	 The term of the loan under this Agreement shall commence on the date Party B receives such loan until the
tenth (10th) anniversary of the date hereof, which term could be extended upon mutual written consent of the Parties. During the term of the loan or any extension thereto, Party A has the
right to require immediate maturity of the loan with written notice to Party B for repayment of the loan in accordance to this Agreement if: 

  

	 	(1)	 Party B terminates, voluntarily or involuntarily, his employment with Party A or an affiliate of Party A;

  

	 	(2)	 Party B is dead, deprived or restricted of civil capacity; 

 

	 	(3)	 Party B is found engaged or involved in any criminal act; 

 

	 	(4)	 Any third party files a claim against Party B that exceeds RMB100,000; or 

  
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	 	(5)	 To the extent permitted under the laws of the PRC, Party A or a person designated by Party A may invest in
BaiduPay to conduct internet information service business, value-added telecommunication business and other business, and Party A has issued to Party B a written notice to exercise the option for purchase of equity in BaiduPay pursuant to Article 4
of the Amended and Restated Exclusive Equity Purchase and Transfer Option Agreement. 

  

	 	4.	 The parties herein agree and acknowledge that, to the extent and within the scope permitted by the laws of the
PRC, Party A shall have the right but no obligation to purchase or designate any other person (including natural person, legal entity or any other entity) to purchase the equity interest in BaiduPay held by Party B in whole or in part (the
“Option”), provided that Party A shall issue a written notice to purchase equity interests to Party B. Upon issuance of a written notice to exercise such Option by Party A, Party B shall, in accordance with Party A’s intentions and
instructions, immediately transfer the equity interest in BaiduPay held by him to Party A or other any person designated by Party A at its original investment price (“Original Investment Price”) or, if otherwise required by law, any other
price agreed upon by Party A. The Parties hereby agree and acknowledge that in connection with exercise of the Option by Party A, if the lowest price of equity interest subscription permitted under applicable laws and regulations is higher than the
Original Investment Price, the subscription price payable by Party A or any other person designated by Party A shall be equal to such lowest price permitted by applicable laws and regulations. The parties agree to enter into an Amended and Restated
Exclusive Equity Option Agreement regarding the Option. 

  

	 	5.	 Both Parties hereby agree and acknowledge that Party B may repay the loan only in the following manner: if
permitted by PRC laws, Party B or its successor or assign shall transfer the equity interests in BaiduPay to Party A or its designated persons and use the proceeds from such transfer to repay the loan under this Agreement, or otherwise agreed by the
Parties. 

  

	 	6.	 Both Parties hereby agree and acknowledge that, except as otherwise provided for herein, the loan under this
Agreement is interest-free; provided, however, that if the loan becomes due and Party B needs to transfer his equity interests in BaiduPay to Party A or its designated person, and the actual transfer price is higher than the loan principal due to
legal requirements or other reasons, the amount in excess of the loan principal, to the extent permitted by law, Party B agrees to pay such excessive amount, net of any applicable individual income tax, at the discretion of Party A.

  

	 	7.	 Both Parties hereby agree and acknowledge that Party B shall be deemed to have fully performed his obligations
under this Agreement only if the following requirements are met: 

  

	 	(1)	 Party B has transferred all his equity interests in BaiduPay to Party A and/or its designated persons; and

  
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	 	(2)	 Party B has paid the total proceeds from such transfer or the maximum amount (including principal and the
highest loan interest permitted under then applicable law) allowed by applicable law as repayment of the loan to Party A. 

  

	 	8.	 To secure performance of his obligations under this Agreement, Party B agrees to pledge all his equity
interests in BaiduPay to Party A (the “Equity Pledge”). Both Parties agree to enter into an Equity Pledge Agreement (the “Equity Pledge Agreement”) regarding the Equity Pledge. 

 

	 	9.	 Party A represents and warrants to Party B that, as of the date of this Agreement: 

 

	 	(1)	 Party A is a wholly foreign-owned enterprise incorporated and validly existing under the laws of PRC;

  

	 	(2)	 Party A has the right to execute and perform this Agreement. The execution and performance of this Agreement
by Party A comply with its business scope, articles of association and other organizational documents. Party A has obtained all necessary and appropriate approvals and authorizations for the execution and performance of this Agreement;

  

	 	(3)	 The principal of the loan to Party B is legally owned by Party A; 

 

	 	(4)	 The execution and performance of this Agreement by Party A do not violate any laws, regulations, approvals,
authorizations, notices, other governmental documents to which Party A is subject, any agreement signed by it with any third party or any undertaking made by it to any third party; and 

 

	 	(5)	 Upon execution by the Parties hereto, this Agreement shall constitute the legal, valid and binding obligations
of Party A. 

  

	 	10.	 Party B represents and warrants to Party A that, as of the date of this Agreement until this Agreement
terminates: 

  

	 	(1)	 BaiduPay is a limited liability company incorporated and validly existing under the laws of PRC and Party B is
a legal holder of the equity interest of BaiduPay; 

  

	 	(2)	 Party B has the right to execute and perform this Agreement. The execution and performance of this Agreement
by Party B comply with the business scope, articles of association and other organizational documents of BaiduPay. Party B has obtained all necessary and appropriate approvals and authorizations for the execution and performance of this Agreement;

  

	 	(3)	 The execution and the performance of this Agreement by Party B do not violate any laws, regulations,
approvals, authorizations, notices, other governmental documents to which Party B is subject, any agreement signed by Party B with any third party or any undertaking made by Party B to any third party; 

  
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	 	(4)	 Upon execution by the Parties hereto, this Agreement shall constitute the legal, valid and binding obligations
of Party B; 

  

	 	(5)	 Party B has paid contribution in full for its equity interests in BaiduPay in accordance with applicable laws
and regulations; 

  

	 	(6)	 Unless required under the Amended and Restated Equity Pledge Agreement and the Amended and Restated Equity
Purchase and Transfer Option Agreement, Party B has not pledged or created any other security interest on, made any offer to any third party to transfer, accepted the offer of any third party to purchase, or execute agreement with any third party to
transfer, Party B’s equity interests in BaiduPay; 

  

	 	(7)	 There are no pending or threatened disputes, litigation, arbitration or other administrative proceedings or
other legal proceedings in connection with the equity interests of BaiduPay held by Party B; and 

  

	 	(8)	 BaiduPay has received and completed all necessary governmental approval, license, registration and filing.

  

	 	11.	 Party B covenants that it shall, during the term of this Agreement: 

 

	 	(1)	 Not sell, transfer, pledge or dispose in any other manner of his equity or other interests in BaiduPay, or
allow the creation of other security interests thereon, without Party A’s prior written consent, except for equity pledges or other rights created for the benefit of Party A; 

 

	 	(2)	 Not vote at shareholder’s meetings of BaiduPay or execute any shareholders’ resolutions approving
the sale, transfer, pledge, disposition in any other manner, or the creation of any other security interest on, any legal or beneficial interest in the equity of BaiduPay without Party A’s prior written consent, except for the benefit of Party
A or its designated persons; 

  

	 	(3)	 Not vote at shareholder’s meetings of BaiduPay or execute any shareholders’ resolutions approving
BaiduPay to merge or combine with, acquire or invest in any person without Party A’s prior written consent; 

  

	 	(4)	 Promptly inform Party A of any pending or threatened litigation, arbitration or regulatory proceeding
concerning the equity interests of BaiduPay; 

  

	 	(5)	 Execute all necessary or appropriate documents, take all necessary or appropriate actions, bring all necessary
or appropriate lawsuits or assert all necessary and appropriate defenses against all claims in order to maintain his equity interests of BaiduPay; 

  

	 	(6)	 Not commit any act or omission that may materially affect the assets, business and liabilities of BaiduPay
without Party A’s prior written consent; 

  
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	 	(7)	 Appoint any person nominated by Party A to be the director of BaiduPay; 

 

	 	(8)	 Upon Party A’s exercise of its Option, transfer promptly and unconditionally, all of Party B’s
equity interests in BaiduPay to Party A or any person designated by Party A, provided that such transfer is permitted under the laws of PRC; 

  

	 	(9)	 Not request BaiduPay to distribute dividends or profits; 

 

	 	(10)	 Once he has transferred his equity interests in BaiduPay to Party A or its designated persons, promptly repay,
subject to applicable laws, the proceeds received for such transfer in full, as the loan principal and loan interests or capital utilization cost allowed by laws, to Party A; and 

 

	 	(11)	 Comply strictly with the terms of this Agreement, and perform the obligations pursuant to this Agreement and
not commit any act or omission that would affect the validity and enforceability of this Agreement. 

  

	 	12.	 Party B, as the shareholder of BaiduPay, covenants that during the term of this Agreement, he shall cause
BaiduPay: 

  

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

  

	 	(2)	 To maintain and operate its business and deal with matters prudently and effectively, in accordance with good
financial and business rules and practices; 

  

	 	(3)	 Not to sell, transfer, mortgage, dispose of in any other manner, or to create other security interest on, any
of its assets, business or legal or beneficial right to its revenues without Party A’s prior written consent; 

  

	 	(4)	 Not to create, succeed to, guarantee or permit any liability, without Party A’s prior written consent,
except (i) the liability arising from the ordinary course of business, but not arising through Party B; and (ii) the liability reported to and approved by Party A in writing; 

 

	 	(5)	 To operate persistently all the business and to maintain the value of its assets; 

 

	 	(6)	 Not to execute any material contracts (for the purpose of this paragraph, a contract will be deemed material
if the value of it exceeds RMB100,000), without Party A’s prior written consent, other than those executed during the ordinary course of business; 

  

	 	(7)	 To provide information concerning all of its operation and financial affairs upon Party A’s request;

  

	 	(8)	 Not to merge or combine with, acquire or invest in, any other person without Party A’s prior written
consent; 

  
 5 

	 	(9)	 Not to issue dividends to shareholders in any form without Party A’s prior written consent; provided,
however, that BaiduPay shall promptly distributable all its distributable profits to each of its shareholders upon Party A’s request; 

  

	 	(10)	 To inform promptly Party A of any pending or threatened suit, arbitration or regulatory proceeding concerning
the assets, business or revenue of BaiduPay; 

  

	 	(11)	 To execute all necessary or appropriate documents, take all necessary or appropriate actions, bring all
necessary or appropriate lawsuits or assert all necessary and appropriate defenses against all claims in order to maintain the ownership of all its assets; and 

 

	 	(12)	 To comply strictly with the terms of the Exclusive Technology Consulting and Service Agreement, the Supplement
to the Exclusive Technology Consulting and Service Agreement dated April 22, 2010 between BaiduPay and Party A, the Supplement II to the Exclusive Technology Consulting and Service Agreement dated September 6, 2011 between BaiduPay and
Party A (collectively, the “Services Agreements”), and any other agreements between Party A and BaiduPay, perform its obligations under the Services Agreements, and not commit any act or omission that would affect the validity and
enforceability of the Services Agreements. 

  

	 	13.	 This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective
successors and assignees. Without prior written approval of Party A, Party B may not assign, pledge or otherwise transfer any right, benefit or obligation under this Agreement. 

 

	 	14.	 Party B agrees that Party A may assign its rights and duties under this Agreement to a third party when it is
necessary, in which case Party A only needs to give a written notice to Party B and no further consent of Party B is required. 

  

	 	15.	 The execution, validity, interpretation, performance, amendment, termination and resolution of disputes in
connection with this Agreement shall be governed by the laws of the PRC. 

  

	 	16.	 Arbitration. 

  

	 	(1)	 Both Parties shall resolve any dispute, conflict, or claim arising from the interpretation or performance
(including any issue relating to the existence, validity and termination of this Agreement) in connection with this Agreement through friendly consultation. If no resolution is agreed upon by the Parties within thirty (30) day after one Party
requests for the resolution, either Party may submit such dispute to China International Economic and Trade Arbitration Commission (the “CIETAC”) for arbitration in accordance with its rules then in effect. The arbitration award shall be
final and binding upon the parties. 

  

	 	(2)	 The seat of the arbitration shall be Beijing. 

  
 6 

	 	(3)	 The language for the arbitration proceedings shall be Chinese. 

 

	 	17.	 This Agreement shall be established as of the date hereof. Both Parties agree that the terms and conditions of
this Agreement shall be effective as of the date on which Party B obtains the loan and shall expire when both Parties have fully performed their obligations under this Agreement. 

 

	 	18.	 Party B may not terminate or revoke this Agreement unless (a) Party A commits a gross negligence, fraud
or other material illegal acts; or (b) Party A is bankrupt. 

  

	 	19.	 This Agreement may not be amended or modified except with a written agreement reached by both Parties. For any
matter not provided herein, the Parties may enter into a supplement hereto in writing. Any amendment, modification, supplement or annex to this Agreement shall form an integral part of this Agreement. 

 

	 	20.	 This Agreement constitutes the entire agreement of the Parties hereto with respect to the subject matters
hereof and supersedes all prior verbal discussions or written agreements between the parties with respect to subject matters hereof. 

  

	 	21.	 This Agreement is severable. If any clause of this Agreement is held to be invalid or unenforceable, such
invalidity or unenforceability shall have no effect on the validity or enforceability of the remainder of this Agreement. 

  

	 	22.	 Each party shall keep in strict confidence all information concerning the other Party’s business,
operation, financial situation or other confidential information obtained under this Agreement or during the performance of this Agreement. 

  

	 	23.	 Any obligation arising from or becoming due under this Agreement before the expiration or early termination of
this Agreement shall survive such expiration or early termination. The Articles 15, 16 and 22 of this Agreement shall survive the termination of this Agreement. 

 

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

 [No text below] 

  
 7 

 [No text on this page] 

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

			
	Party A: Baidu Online Network Technology (Beijing) Co., Ltd.	 	
		
	 /s/: Hailong Xiang
	 	
	
	 Seal of Baidu Online Network Technology (Beijing) Co., Ltd.

		
	 Party B: Zhixiang Liang
	 	
		
	 /s/: Zhixiang Liang
	 	

  
 8

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