Document:

EX-4.45

 Exhibit 4.45 

This document is a translation of the original text in Chinese 

AMENDED AND RESTATED EXCLUSIVE EQUITY PURCHASE AND TRANSFER OPTION AGREEMENT 

This Amended and Restated Exclusive Equity Purchase and Transfer Option Agreement (this “Agreement”) is entered into among the following parties in
Beijing, PRC on December 31, 2015: 
 Party A: Baidu Online Network Technology (Beijing) Co., Ltd. 

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

Party B: Zhan Wang 
 Address: 

Party C: Beijing Baidu Netcom Science and Technology Co., Ltd. 

Registered Address: 2/F., Baidu Building, No. 10 Shangdi 10th Street, Haidian District, Beijing 

In this Agreement, Party A, Party B and Party C are called collectively as the “Parties” and each of them is a “Party.” 

WHEREAS: 
 1. Party A, is a wholly foreign-owned enterprise
incorporated under the laws of the People’s Republic of China (the “PRC”), which has technology expertise and practical experience in computer software development and design, and also has rich experience and expertise in information
technology and service; 
 2. Party C, a liability limited company incorporated in the PRC, 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. Party B has ownership of 0.5% of the equity interest in Party C (the “Equity Interest”); 
 4. Party A and Party B entered into an
amended and restated loan agreement (the “Loan Agreement”) on December 31, 2015; 
 5. Party A and Party C entered into a number of agreements
including an exclusive technology consulting and services agreement (the “Services Agreement”) on March 22, 2005; 

 6. Party A and Party B entered into an amended and restated equity pledge agreement (the “Equity Pledge
Agreement”) on December 31, 2015; and 
 7. Each of Parties has entered into a number of exclusive equity purchase option agreements set forth in
Schedule I attached hereto with the parties thereto (collectively, the “Original Exclusive Equity Purchase Option Agreements”). The Parties hereby agree to enter into this Agreement to amend and restate the Original Equity Purchase Option
Agreements and this Agreement will replace and substitute the Original Equity Purchase Option Agreements as of the date of its effectiveness. 
 NOW,
THEREFORE, the Parties upon negotiation hereby agree as follows: 
 1. Purchase and Sale of Equity Interest 

1.1 Granting of Rights 
 Party B (hereafter, the
“Transferor”) hereby irrevocably grants to Party A an option to purchase or cause any one or more designated persons (“Designated Persons”) to purchase, to the extent permitted under PRC law, according to the steps determined by
Party A, at the price specified in Article 1.3 of this Agreement, and at any time from the Transferor, a portion of, or all of, the equity interests held by the Transferor in Party C (the “Option”). No Option shall be granted to any third
party other than Party A and/or the Designated Persons. Party C hereby agrees to the granting of the Option by Party B to Party A and/or the Designated Persons. For purpose of this Section 1.1 and this Agreement, “person” means an
individual person, corporation, joint venture, partnership, enterprise, trust or a non-corporation organization. 
 1.2 Exercise Steps 

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

1.3 Purchase Price 
 1.3.1 If Party A exercises the Option, the
purchase price of the Purchased Equity Interest (“Purchase Price”) shall be equal to the actual paid-in capital paid by the Transferor for the Purchased Equity Interest, unless then applicable PRC laws and regulations require appraisal of
the Purchased Equity Interest or stipulate other restrictions on the Purchase price. 
 1.3.2 If the applicable PRC laws require appraisal of the Purchased
Equity Interest or stipulate other restrictions on the Purchase Price at the time that Party A exercises the Option, the Parties agree that the Purchase Price shall be set at the lowest price permissible under applicable law. 

  
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 1.4 Transfer of the Purchased Equity Interest 

At each exercise of the Option: 
 1.4.1 The Transferor shall, in
accordance the terms and conditions of this Agreement and the Notice in connection with the Purchased Equity Interest, enter into an equity transfer agreement with Party A and/or the Designated Persons (as applicable) for each transfer in form
satisfactory to Party A; 
 1.4.2 The Transferor shall execute all other requisite contracts, agreements or documents, obtain all requisite government
approvals and consents, and take all necessary actions to transfer the valid ownership of the Purchased Equity Interest to Party A and/or the Designated Persons free of any security interest, and cause Party A and/or the Designated Persons to be the
registered owner(s) of the Purchased Equity Interest. 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 
 The manner of payment of the Purchase Price shall
be determined through negotiations between Party A and/or the Designated Persons and the Transferor according to the applicable laws at the time of the exercise of the Option. The Parties hereby agree that, subject to applicable laws, Transferor
shall repay to Party A any amount that is paid by Party A and/or the Designated Persons to the Transferor in connection with the Purchased Equity Interest (excluding the tax fees and other fees incurred by the proposed transaction according to
transfer agreements paid by the Transferor). 
 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; 

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

2.1.5 To operate persistently all the business in the normal course of business to maintain the value of Party C’s assets, and not to commit any act or
omission that would affect its operations and asset value; 
 2.1.6 Without prior written consent by Party A, not to enter into any material agreement,
other than agreements entered into in Party C’s normal course of business (for purpose of this paragraph, an agreement will be deemed material if its value exceeds RMB500,000); 

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

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

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

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

2.1.11 To promptly notify Party A of any pending or threatened suit, arbitration or administrative proceedings concerning Party C’s assets, business or
revenue; 
 2.1.12 To execute all necessary or appropriate documents, to take all necessary or appropriate actions and to bring all necessary or appropriate
claims or to make all necessary and appropriate defenses against all claims in order for Party C to maintain the ownership over all its assets; 
 2.1.13
Not to distribute dividends to Party C’s shareholders in any way without Party A’s prior written consent. However, Party C shall promptly distribute all or part of its distributable profits to its shareholders upon Party A’s request;

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

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

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

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

2.2.5 To execute all necessary or appropriate documents, to take all necessary or appropriate actions and to bring all necessary or appropriate claims or to
make all necessary and appropriate defenses against all claims in order to maintain his ownership over the Equity Interest; 
 2.2.6 At the request of Party
A, to appoint persons nominated by Party A to be the directors of Party C; 
 2.2.7 At any time, upon the request of Party A, to transfer its Equity
Interest immediately and unconditionally to the representative designated by Party A, and waive its preemptive right with respect to the transfer of equity interest by the other shareholder of Party C; 

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

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

2.3 Covenants Relating to Party A 
 Party A hereby 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;

 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. 

  
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 3. Representations and Warranties 

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

 3.1 It has the power and authority to execute and deliver this Agreement, and any equity transfer agreement (“Transfer Agreement”) to which it
is party for each transfer of the Purchased Equity under this Agreement and to perform its obligations under this Agreement and any Transfer Agreement. Once executed, this Agreement and any Transfer Agreement to which it is party will constitute a
legal, valid and binding obligation of it enforceable against it in accordance with its terms; 
 3.2 The execution, delivery and performance of this
Agreement or any Transfer Agreement by it will not: (i) violate any relevant PRC laws and regulations; (ii) conflict with its articles of association or other organizational documents; (iii) violate or constitute a default under any contract or
instrument to which it is party or that binds upon it; (iv) violate any condition for the grant and/or continued effectiveness of any permit or approval granted to it; or (v) cause any permit or approval granted to it to be suspended, cancelled or
attached with additional conditions; 
 3.3 Party C has good and marketable ownership interest in all of its assets and has not created any security
interest on the said assets; 
 3.4 Party C has no outstanding liabilities, except (i) liabilities arising in its normal course of business; and (ii)
liabilities disclosed to Party A and approved by Party A in writing; 
 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 The term of this Agreement shall be ten (10) years unless it is early terminated under this Agreement
or any other agreement separately agreed upon by the Parties. Party B and Party C hereby confirm that this Agreement may be extended by Party A in writing prior to its expiry without consent from Party B and Party C. The term to be extended
shall be subject to agreement of the Parties.

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

6. Applicable Law and Dispute Resolution 
 6.1 Applicable Law

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

6.2 Dispute Resolution 
 Any dispute arising in connection with
the interpretation and performance of the provisions of this Agreement shall be resolved by the Parties in good faith through negotiations. In case no resolution can be reached by the Parties within thirty (30) days after either party makes a
request for dispute resolution through negotiations, either party may refer such dispute to China International Economic and Trade Arbitration Commission (“CIETAC”) for arbitration in accordance with CIETAC’s arbitration rules then in
effect. The seat of arbitration shall be Beijing and language of proceedings shall be Chinese. The arbitral award shall be final and binding upon the Parties. 

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

Any notice or other communication forms which is given by the parties hereto shall be in Chinese and delivered personally to the addresses listed as below or
the addresses designated by the Parties. The notice time which is deemed as the time when the notice actually reaches the addressee follows: (a) the notice time of the notice delivered personally shall be the day when the person conducts the
delivery; (b) the notice time of the notice delivered as mail shall be the tenth (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. 

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

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

Facsimile: 5992-7435 
 Telephone: 5992-8888 

Party B: Zhan Wang 
 Address: 

Facsimile: 
 Telephone: 

Party C: Beijing Baidu Netcom Science and Technology Co., Ltd. 

Address: 2/F, Baidu Building B, No. 10 Shangdi 10th Street, Haidian District, Beijing 

Facsimile: 5992-7435 
 Telephone: 5992-8888 

9. Confidentiality 
 The Parties acknowledge and confirm any oral
or written materials exchanged by the Parties in connection with this Agreement are confidential. The Parties shall maintain the confidentiality of all such materials. Without the written approval by the other Parties, any Party shall not disclose
to any third party any relevant materials, but the following circumstances shall be excluded: 
 9.1 Materials that are or will become known by the public
(through no fault of the receiving party); 
 9.2 Materials required to be disclosed by the applicable laws or rules of the stock exchange; 

9.3 Materials disclosed by each Party to its legal or financial advisors relating the transactions contemplated by this Agreement, and such legal or financial
advisors shall comply with the confidentiality provisions similar to this article. 
 The disclosure of information by the staff or consultants of any party
shall be deemed as disclosure by the party itself. This Section 9 shall survive any invalidity, termination, expiration or unenforceability of this Agreement. 

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

  
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 11. Miscellaneous 

11.1 Amendment, Modification or Supplement 
 Any amendment or
supplement to this Agreement shall be made by the Parties in writing. The amendments or supplements duly executed by each Party shall be deemed as a part of this Agreement and shall have the same legal effect as this Agreement. 

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

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

  
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 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.

  

					
	 Legal Representative/Authorized Representative:
	  	/s/ Zhan Wang	  	

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

Party B: Zhan Wang 
  

					
	 Signature:
	  	/s/ Zhan Wang	  	

 Party C: Beijing Baidu Netcom Science and Technology Co., Ltd. 

 

					
	 Legal Representative/Authorized Representative:
	  	/s/ Zhixiang Liang	  	

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

  
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 Original Exclusive Equity Purchase Option Agreements 

 

							
	Serial
number	  	Name	  	Parties	  	Date
	1	  	Amended and Restated Exclusive Equity Purchase Option Agreement	  	 Baidu Online Network Technology (Beijing) Co., Ltd.

Beijing Baidu Netcom Science and Technology Co., Ltd.
 Yanhong
Li
 Yong Xu
	  	20050322
	2	  	Supplement to Amended and Restated Exclusive Equity Purchase Option Agreement	  	 Baidu Online Network Technology (Beijing) Co., Ltd.

Beijing Baidu Netcom Science and Technology Co., Ltd.
 Yanhong
Li
 Yong Xu
	  	20100422
	3	  	Amendment to the Amended and Restated Exclusive Equity Purchase Option Agreement and the Supplement thereto	  	 Baidu Online Network Technology (Beijing) Co., Ltd.

Beijing Baidu Netcom Science and Technology Co., Ltd.
 Yanhong
Li
 Haoyu Shen
 Zhan Wang
	  	20110826
	4	  	Restated and Amended Exclusive Equity Purchase Option Agreement	  	 Baidu Online Network Technology (Beijing) Co., Ltd.

Beijing Baidu Netcom Science and Technology Co., Ltd.
 Zhan
Wang
	  	20151130

  
 12EX-4.61

 Exhibit 4.61 

This document is a translation of the original text in Chinese 

Amended and Restated Loan Agreement 
 This
Amended and Restated Loan Agreement (this “Agreement”) is entered into on December 31, 2015 in Beijing, by and between: 
 Party
A:    Baidu Online Network Technology (Beijing) Co., Ltd. 
 Registered Address: 3/F, No. 10 Shanghdi 10th Street, Haidian District, Beijing 
 Party B: Yanhong Li 

WHEREAS, 
  

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

  

	 	2.	Party B is a Chinese citizen, and is the shareholder of Baidu Network Information Technology Co., Ltd. (“Baidu Network”); 

  

	 	3.	Party A, Party B and other related parties executed a series of loan agreements as set forth in Schedule 1 of this Agreement (collectively, the “Original Loan Agreements”), the Parties now agree to execute
this Agreement to amend and restate the Original Loan Agreements, and this Agreement shall replace and substitute the Original Loan Agreements as of the date of execution. 

Party A and Party B, through friendly consultation, agree as follows: 
  

	 	1.	In accordance with the terms and conditions of this Agreement, Party A agrees to provide an interest-free loan in the amount of RMB 885.55 million yuan (RMB 885,550,000.00) to Party B, and Party B agrees to accept such
loan. 

  

	 	2.	Party B confirms the receipt of such loan and has applied such loan toward payment of capital contribution of Beijing Network. 

  

	 	3.	The term of the loan under this Agreement shall commence on the date Party B receives such loan to the date 10 years from the execution of this Agreement, which may be extended upon mutual written consent of the
Parties. During the term of the loan or the extended term of the loan, Party A has the right to cause the loan to be due immediately by written notice, and require Party B to repay the loan in accordance to this Agreement in the event any of the
following circumstances occur to Party B: 

  

	 	a.	Party B leaves or is terminated from Party A or an affiliated company of Party A; 

  

	 	b.	Party B’s death, lack or limitation of civil capacity; 

  

	 	c.	Party B engages in criminal act or is involved in criminal activities; 

  

	 	d.	Any third party filed a claim against Party B that exceeds RMB 100,000; or 

  

	 	e.	 Subject to the laws of the PRC, Party A or a person designated by Party A is permitted invest in Beijing Network to conduct internet information
service 

	 	
business, value-added telecommunication business and other business, and Party A has issued a written notice relating to the equity purchase of Beijing Network to such party pursuant to the
provisions of the Exclusive Option Contract mentioned in article 4 hereof, to exercise purchase rights. 

  

	 	4.	The parties herein agree and confirm that, to the extent and within the scope permitted by the laws of the PRC, Party A shall have the right but not the obligation to purchase or designated other persons (including
natural person, legal entity or any other entity) to purchase the equity interests of Beijing Network held by Party B in whole or in part (hereinafter referred to as “Option Right”), but Party A shall issue a written notice to purchase
equity interests to Party B. Upon Party A’s issuance of a written notice to exercise such Option, Party B shall, in accordance with Party A’s wishes and instructions, immediately transfer all of its equity interests in Beijing Network to
Party A or other persons as designated by Party A at the original investment price (“Original Investment Price”) or at another price agreed upon by Party A where the law otherwise requires. The Parties hereby agree and acknowledge, when
Party A exercises its Option Right, if in accordance to the applicable laws at the time, the lowest price of the equity interests permitted is higher than the Original Investment Price, then the purchase price of Party A or other persons designated
by Party A shall be the lowest price permitted by the laws. The parties agree to the above matters and have executed the Exclusive Option Contract. 

  

	 	5.	The parties herein agree and confirm that Party B may repay the loan only by the following methods: the borrower (or his successors or assignees) shall transfer the equity interest in Beijing Network to Party A or its
designated person and use the proceeds to repay the loan when the loan is due and Party A gives a written notice, or through another method as mutually agreed by the parties herein. 

 

	 	6.	The Parties herein agree and confirm that this loan is an interest-free loan unless there are different provisions in this Agreement. But if the loan is due and Party B has to transfer his equity interests in Beijing
Network to Party A or its designated person and the proceeds exceed the loan principal due to the legal requirement or other reasons, the extra amount over the principal of proceeds will be considered as the interests or capital use cost, to the
extent permitted by the law, which shall be repaid to Party A. 

  

	 	7.	The parties agree and confirm that Party B shall be deemed to have completed his obligations under this Agreement only if the following requirements are met: 

 

	 	a.	Party B has transferred all his equity interests in Beijing Network to Party A and/or its designated person; and 

  

	 	b.	Party B has repaid the total amount of proceeds from the equity interest transfer or the maximum amount (including principal and the maximum interests as permitted by the applicable laws at the time) permitted by
applicable laws to Party A. 

  

	 	8.	To secure the performance of debt under this Agreement, Party B agrees to pledge all of his equity interests in Beijing Network to Party A (the “Equity Pledge”). The parties agree to execute an equity pledge
agreement for the above matters. 

  

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

  

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

  
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	 	b.	Party A has the right to execute and perform this agreement. The execution and performance by Party A of this agreement comply with its business scope, Articles or other institutional documents, and Party A has taken
necessary actions to get all necessary and appropriate approvals and authorizations; 

  

	 	c.	The principal of the loan to Party B is legally owned by Party A; 

  

	 	d.	The execution and performance of this Agreement by Party A does not violate any law, regulation, approval, authorization, notice, other governmental document, any agreement between Party A and any third party, or any
promise made by Party A to a third party; and 

  

	 	e.	This Agreement shall constitute the legal, valid and binding obligations of Party A upon execution. 

  

	 	10.	Party B hereby represents and warrants to Party A that, from the execution date of this agreement until this Agreement terminates: 

  

	 	a.	Beijing Network is a limited liability company incorporated and validly existing under the laws of the PRC and Party B is the legal holder of the equity interest of Beijing Network; 

 

	 	b.	Party B has the right to execute and perform this Agreement. The execution and performance by Party B of this Agreement comply with its business scope, Articles or other institutional documents, and Party B has taken
necessary actions to obtain all necessary and appropriate approvals and authorizations; 

  

	 	c.	The execution and performance of this Agreement by Party B does not violate any law, regulation, approval, authorization, notice, other governmental document, any agreement between Party B and any third party, or any
promise made by Party B to a third party; 

  

	 	d.	This Agreement shall constitute the legal, valid and binding obligations of Party B upon execution; 

  

	 	e.	Party B has paid contribution in full for the equity interests he holds in Beijing Network in accordance with applicable laws and regulations; 

 

	 	f.	Except the provisions stipulated in the equity pledge agreement and exclusive option agreement, Party B did not create any pledge or other security over his equity interest in Beijing Network, make any offer to a third
party to transfer his equity, make acceptance for the offer to a third party to purchase his equity, or execute any agreement with a third party to transfer his equity; 

 

	 	g.	There are no pending or potential disputes, litigation, arbitration, administrative proceedings or other legal proceedings in connection with the equity interests of Beijing Network held by Party B; 

 

	 	h.	Beijing Network has completed all necessary governmental approvals, licenses, registrations and filings. 

  

	 	11.	Party B undertakes, during the term of this Agreement, to: 

  

	 	a.	Not sell, transfer, pledge, dispose in any other manner of his equity interests in Beijing Network or other interests, and not allow to create other security interests over his equity interests without the prior written
consent of Party A, except pledges or other rights created in the interest of Party A; 

  

	 	b.	Not consent, support or execute any shareholder resolutions at Beijing Network’s shareholder’s meetings that permit the sale, transfer, pledge, disposal in any manner of, and the creation of other security
interests on, any of his legal or beneficiary equity interests without the prior written consent of Party A, except where transferring his equity interest to Party A; 

  
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	 	c.	Not consent, support or execute any shareholder resolutions at Beijing Network’s shareholder meetings that permit Beijing Network to merge or combine with, or acquire or invest in, any person without Party A’s
prior written consent; 

  

	 	d.	Promptly inform Party A of any pending or threatened litigation, arbitration or regulatory procedures relating to the equity interests of Beijing Network; 

 

	 	e.	Execute all necessary or appropriate documents, take all necessary or appropriate actions and bring all necessary or appropriate lawsuits or make all necessary and appropriate defenses against all claims in order to
maintain the equity interests of Beijing Network held by Party B; 

  

	 	f.	Refrain from any act or omission that may materially affect the assets, business and liabilities of Beijing Network without the prior written consent of Party A; 

 

	 	g.	Appoint any person nominated by Party A as the director of Beijing Network, subject to Party A’s request; 

  

	 	h.	Transfer promptly and unconditionally, at any time, all equity interests in Beijing Network held by Party B to Party A or its designated person subject to the request of Party A, provided that such transfer is permitted
under the laws of the PRC; 

  

	 	i.	Not request Beijing Network to distribute dividends or profits; 

  

	 	j.	Once Party B transfers his equity interest in Beijing Network to Party A or its designated person, he shall repay the consideration he receives as the principal and the interests or capital use cost to Party A if such
repayment is permitted under the laws of the PRC; 

  

	 	k.	Strictly comply with the terms of this Agreement, perform the obligations under this Agreement, and refrain from any act or omission that affects the validity and enforceability of this Agreement. 

 

	 	12.	Party B, as the shareholder of Beijing Network, undertakes to cause Beijing Network, during the term of this Agreement, to: 

  

	 	a.	Not supplement, amend or modify its articles of association, or increase or decrease its registered capital, or to change its capital structure in any form without the prior written consent of Party A;

  

	 	b.	Operate its business and handle matters prudently and affectively according to good financial and business rules and practices; 

  

	 	c.	Not sell, transfer, mortgage, dispose of in any other manner, or to create other security interests on, any of its assets, business or legal or beneficial rights to its income without the prior written consent of Party
A from the date of this Agreement; 

  

	 	d.	Not create, succeed to, guarantee or permit any liability, without the prior written consent of Party A, except (i) the liability arising from the ordinary or daily course of business operations, but not arising from
the loan; and (ii) the liability disclosed to Party A or approved by Party A in writing; 

  

	 	e.	Operate all businesses on a continued basis and maintain the value of its assets; 

  

	 	f.	Not execute any material contracts (for the purpose of this section, a contract will be deemed material if its value exceeds RMB 100,000) without the prior written consent of Party A, other than those executed during
the ordinary course of business; 

  
 4 

	 	g.	Provide information of all its operations and financial affairs at Party A’s request; 

  

	 	h.	Not merge or combine with, acquire or invest in, any other person without the prior written consent of Party A; 

  

	 	i.	Not distribute dividends to the shareholders in any way without the prior written consent of Party A, and upon Party A’s request, to promptly distribute all profits that may be distributed to all shareholders.

  

	 	j.	Promptly inform Party A of any pending or threatened litigation, arbitration or regulatory procedures relating to its assets, business or revenue; 

 

	 	k.	Execute all necessary or appropriate documents, take all necessary or appropriate actions and bring all necessary or appropriate lawsuits or make all necessary and appropriate defenses against all claims in order to
maintain ownership of its assets; 

  

	 	l.	Strictly comply with the terms of the Exclusive Technology Service Agreement (“Service Agreement”) entered into between Beijing Network and Party A and other agreements, duly perform its obligations under the
Service Agreement and other agreements, and refrain from any act or omission that affects the validity and enforceability of the Service Agreement. 

  

	 	13.	This Agreement shall be binding on, and only in the interest of, all parties hereto and their respective successors and assignees. Without prior written consent of Party A, Party B shall not transfer, pledge or assign
any right, interest or obligation hereunder. 

  

	 	14.	Party B agrees that Party A may assign its rights and obligations hereunder to a third party by a written notice to Party B when it considers necessary. No further consent from Party B is required for such transfer.

  

	 	15.	The execution, validity, interpretation, performance, amendment, termination and dispute resolution of this Agreement are governed by the laws of the PRC. 

 

	 	16.	Arbitration 

  

	 	a.	Both Parties shall strive to settle any dispute, conflicts, or compensation claims arising from the interpretation or performance (including any issue relating to the existence, validity and termination) of this
Agreement through friendly consultation. In case no settlement can be reached within thirty (30) days after one party requests for settlement, each party can submit such matter to China International Economic and Trade Arbitration Commission (the
“CIETAC”) in accordance with its rules. The arbitration award shall be final and conclusive and binding upon the Parties. 

  

	 	b.	The arbitration shall take place in Beijing. 

  

	 	c.	The arbitration language shall be Chinese. 

  

	 	17.	This Agreement shall become effective on the date of execution. Both Parties agree that the terms and conditions of this Agreement shall be effective as of the date on which Party B receives the loan, and shall expire
as of the date on which both Parties complete their obligations hereunder. 

  

	 	18.	Party B shall not terminate or revoke this Agreement under any circumstances unless (a) Party A commits a material error, fraud, or other material unlawful action; or (b) upon Party A’s bankruptcy.

  

	 	19.	This Agreement shall not be amended or modified without the written consent of the Parties hereto. Any matters not agreed upon in this Agreement may be supplemented by all Parties through the execution of a written
agreement. The above amendments, modifications, supplements and any attachment of this Agreement shall be integral parts of this Agreement. 

  
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	 	20.	This Agreement constitutes the entire agreement of the Parties with respect to the subject matter herein and supersedes and replaces all prior or contemporaneous verbal and written agreements and understandings between
the Parties. 

  

	 	21.	This Agreement is severable. The invalidity or unenforceability of any clause shall not affect the validity or enforceability of other clauses herein. 

 

	 	22.	Each Party shall protect the confidentiality of 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 that is due before the expiration or early termination of this agreement shall survive such expiration or early termination. Section 15, 16, and 22 shall survive the termination of this Agreement.

  

	 	24.	This Agreement shall be executed in two counterparts, each Party shall hold on counterpart. All counterparts shall have the same legal effect. 

IN WITNESS WHEREOF, each party hereto have caused this Agreement to be duly executed by its legal representative on its behalf as of the
date first set forth above. 
 [No text below] 

  
 6 

 [No text on this page] 

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

Legal representative/authorized representative: 
 Company seal:
/s/ Baidu Online Network Technology (Beijing) Co., Ltd. 
 Party B:    Yanhong Li 

Signature: /s/ Yanhong Li 

  
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 Schedule 1 

Original Loan Agreements 
  

							
	 No.
	 	 Contract Name
	 	 Parties
	 	 Execution Date

				
	1.	 	Amended and Restated Loan Agreement	 	Baidu Online Network Technology (Beijing) Co., Ltd.; Yanhong Li; Yong Xu	 	20050322
				
	2.	 	Capital Increase Loan Agreement	 	Baidu Online Network Technology (Beijing) Co., Ltd.; Yanhong Li	 	20060210
				
	3.	 	Capital Increase Loan Agreement	 	Baidu Online Network Technology (Beijing) Co., Ltd.; Yanhong Li	 	20080306
				
	4.	 	Supplemental Agreement to the Loan Agreement	 	Baidu Online Network Technology (Beijing) Co., Ltd.; Yanhong Li; Yong Xu; Haoyu Shen	 	20110111
				
	5.	 	Renewed Agreement of the Amended and Restated Loan agreement	 	Baidu Online Network Technology (Beijing) Co., Ltd.; Yanhong Li; Haoyu Shen; Zhan Wang	 	20110826
				
	6.	 	Supplemental Agreement to the Amended and Restated Loan Agreement	 	Baidu Online Network Technology (Beijing) Co., Ltd.; Yanhong Li; Zhan Wang	 	20140301
				
	7.	 	Amended and Restated Loan Agreement	 	Baidu Online Network Technology (Beijing) Co., Ltd.; Yanhong Li	 	20151130

  
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