Document:

EX-4.57

 Exhibit 4.57 

Termination Agreement of Current Control Contracts 

This Termination Agreement of Current Control Contracts (this “Agreement”) is made as of March 31, 2018 in Beijing, the People’s
Republic of China (the “PRC,” for purposes of this Agreement excluding Hong Kong, Macau and Taiwan) by and among: 
 Party A: Baidu
Online Network Technology (Beijing) Co., Ltd., a wholly foreign owned enterprise duly formed and validly existing under the PRC laws, with its registered address at 3/F, Baidu Plaza, No. 10 Shangdi 10th Street, Haidian District, Beijing; 
 Party B: Beijing Baidu Netcom Science Technology Co., Ltd.,
a limited liability company duly formed and validly existing under the PRC laws, with its registered address at 2/F, Baidu Plaza, No. 10 Shangdi 10th Street, Haidian District, Beijing; 

Party C: Yanhong Li, a PRC citizen, ID No.        ; and 

      Hailong Xiang, a PRC citizen, ID No.    ; 

And 
 Party D: Baidu Inc., a company duly formed
and validly existing under the laws of the Cayman Islands, with its registered address at M&C Corporate Services Limited, P.O. Box 309 GT, Ugland House, Grand Cayman, KY1-1104, Cayman Islands. 

In this Agreement, each of the Parties above are collectively referred to as the “Parties,” individually as a “Party,” and mutually as
“Other Parties.” 
 WHEREAS: 
  

	(1)	 Each of Party A, Party B and Party C has signed the documents listed in Exhibit 1 attached hereto (collectively
the “Current Control Documents”; for avoidance of any doubt, “all” and/or “any” of the Current Control Documents referenced herein are limited to the documents listed in Exhibit 1 attached hereto) prior to the
date hereof; and 

  

	(2)	 Pursuant to the terms and subject to the conditions herein, each Party agrees to terminate all of the Current
Control Documents and enter into the new control documents listed in Exhibit 2 attached hereto (the “New Control Documents”). 

 NOW, THEREFORE, the Parties agree as follows through negotiations: 

 

	1.	 Termination of Current Control Documents 

 

	1.1	 Each of Party A, Party B and Party C hereby irrevocably agrees and acknowledges that all of the Current Control
Documents shall terminate and cease to have any effect as of the date hereof. 

  

	1.2	 As of the date hereof, each of Party A, Party B and Party C shall have no right under all and/or any of the
Current Control Documents, or be required to fulfill any obligation thereunder; provided, however, that any rights exercised and obligations fulfilled by each of Party A, Party B and Party C on reliance of the Current Control Documents
shall remain valid, no Party is required to return any payment, income or interest of any kind received by it or in its actual possession on reliance of the Current Control Documents, and any amount which has become due and payable among Party A,
Party B and Party C shall be paid accordingly. 

  

	1.3	 Unless otherwise provided in Section 1.2 above, each of Party A, Party B and Party C hereby irrevocably
and unconditionally waive any dispute, claim, demand, right, obligation, liability, action, contract or cause of action of any kind or nature it had, has or may have against the Other Parties directly or indirectly in connection with or arising from
all and/or any of the Current Control Documents. 

  

	1.4	 Without prejudice to the generality of Sections 1.2 and 1.3 above, as of the date hereof, each of Party A,
Party B and Party C hereby waives any commitment, debt, claim, demand, obligation and liability of any kind or nature that such Party or any of its successors, heirs, assigns or estate executors had, has or may have against the Other Parties and
their respective current and past directors, officers, employees, counsels and agents, affiliates of the forgoing persons and the respective successors and assigns of each of the foregoing, in connection with or arising from the Current Control
Documents, including claims and cause of action at law or equity, whether initiated or not, absolute or contingent, known or unknown. 

  

	2.	 Execution of New Control Documents 

 

	2.1	 Each of the Parties agrees and acknowledges that subject to fulfilment of the terms under Article 1, each of
the Parties shall enter into the New Control Documents listed in Exhibit 2 and agree to exercise their respective rights and undertake their respective covenants, obligations and duties in accordance therewith. 

	3.	 Representations and Warranties 

 

	3.1	 Mutual Representations and Warranties. Each of the Parties represents and warrants to the Other Parties
that: 

 (1) it has full legal rights, powers and authorities to execute this Agreement and all contracts and documents
referenced herein to which it is a party, and execution of this Agreement represents expression of its genuine intent; 
 (2) none of its
execution and performance of this Agreement will constitute breach of any organizational document to which it is a party or by which it is bound, any agreement executed or permit obtained by it, or result in its breach of or requirement for it to
obtain any judgment, ruling, order or consent issued by a court, government authority or regulatory body; and 
 (3) it has obtained all
consents, approvals and authorizations necessary for its valid execution of this Agreement, all contracts and documents referenced herein to which it is a party, and for its compliance with and performance of its obligations hereunder and
thereunder. 
  

	4.	 Covenants 

  

	4.1	 In order to duly terminate the rights and obligations under the Current Control Documents, each Party shall
execute all documents and take all actions that are necessary or advisable, provide active support for the Other Parties in obtaining relevant government approvals and/or registration documents and effecting relevant termination procedures.

  

	5.	 Termination 

  

	5.1	 Except for the circumstances expressly provided herein, the Parties agree to terminate this Agreement:

 (1) by all of the Parties through negotiation, and all expenses and losses incurred therefrom shall be borne
respectively by the incurring Party; or 
 (2) by the non-defaulting Party if the intent of this
Agreement is incapable of fulfilment due to a Party’s breach of its obligations hereunder. 
  

	6.	 Breach Liabilities and Indemnification 

 

	6.1	 Any Party shall be deemed in breach of this Agreement if it breaches or fails to perform any of its
representations, warranties, covenants, obligations and liabilities set forth herein. 

	6.2	 Unless otherwise expressly agreed herein, any Party in breach of this Agreement shall indemnify the non-defaulting Party for any cost, liability or any loss (including without limitation any interest accrued therefrom and legal fees) incurred by the non-defaulting Party. The
total amount of indemnity payable by the defaulting Party to the non-defaulting Party shall be the loss arising from such breach. 

 

	7.	 Governing Law and Dispute Resolution 

 

	7.1	 The formation of this Agreement and its validity, interpretation, performance and resolution of any dispute
arising from this Agreement shall be governed by and construed in accordance with the laws of the PRC. 

  

	7.2	 All disputes arising from the performance of this Agreement or in connection with this Agreement shall be
resolved by the Parties through negotiations in good faith. 

  

	7.3	 Any Party may submit any dispute arising from this Agreement to China International Economic and Trade
Arbitration Commission (CIETAC) for arbitration in Beijing in accordance with its arbitration rules and procedures then in effect. The arbitral tribunal shall consist of three arbitrators appointed in accordance with the arbitration rules, with one
arbitrator appointed by the claimant, one arbitrator by the respondent and the third arbitrator by the two appointed arbitrators after consultation or by the CIETAC. The arbitration shall proceed on confidential basis in Chinese. The arbitral award
shall be final and binding upon all Parties. 

  

	7.4	 During the arbitration, except the matters under dispute and pending arbitration, each Party shall continue to
exercise its other rights and fulfill its other obligations hereunder. 

  

	8.	 Confidentiality 

 

	8.1	 The Parties shall be obliged to keep confidential this Agreement and matters relating to this Agreement, and
none of the Parties may disclose any matter relating hereto to a third party other than the Parties hereto without the written consent of the Other Parties, except for any disclosure: 

(1) to the auditor, legal advisor and any other person engaged by it in the ordinary course of business, provided that such person shall be
obliged to keep in confidence any information relating to this Agreement acquired by it during such engagement; and 
 (2) which could be
otherwise accessible by the public, or is expressly required by law, regulation or relevant stock exchange authority. 
  

	9.	 Miscellaneous 

 

	9.1	 This Agreement shall become effective upon signature of all of the Parties. 

	9.2	 The Parties may amend or modify this Agreement through negotiations. Any such amendment or modification shall
be made in writing and become effective upon signature of all of the Parties. 

  

	9.3	 If any provision hereof be held invalid or unenforceable, such provision shall be deemed to have never existed
herein and have no effect upon validity of the remainder of this Agreement, and the Parties shall negotiate to provide for a new provision to the extent permissible by law to ensure that the intent of the original provision be realized to the
maximum extent. 

  

	9.4	 Unless otherwise provided herein, no failure or delay in exercising any right, power or privilege hereunder by
a Party shall operate as its waiver of such right, power or privilege, nor shall single or partial exercise of such right, power or privilege preclude the exercise of any other right, power and privilege. 

 

	9.5	 This Agreement is made in five originals with one thereof for each Party, and each of the originals shall be
equally binding. 

 (No text below, Signatures to follow) 

 IN WITNESS WHEREOF, each Party has executed or caused this Termination Agreement of Current Control
Contracts to be executed by its authorized representative on its behalf as of the date first written above with immediate effect. 
 Party A: 

 

			
	Baidu Online Network Technology (Beijing) Co., Ltd. (seal)
		
	Signature:	 	 /s/ Hailong Xiang

	Name:	 	
	Title: Legal Representative
	
	Party B:
	
	Beijing Baidu Netcom Science Technology Co., Ltd. (seal)
		
	Signature:	 	 /s/ Zhixiang Liang

	Name:	 	
	Title: Legal Representative
	
	Party C:
	
	Yanhong Li
		
	Signature:	 	 /s/ Yanhong Li

	
	Xianghai Long
		
	Signature:	 	 /s/ Xianghai Long

	
	Party D:
	
	Baidu, Inc.
		
	Signature:	 	 /s/ Yanhong Li

	Name:	 	
	Title: Director

 Exhibit 1 

List of Current Control Documents 
  

							
	 No.
	  	 Document Name
	  	 Signed by
	  	 Signed on

	1	  	Amended and Restated Exclusive Equity Purchase and Transfer Option Agreement	  	Baidu Online Network Technology (Beijing) Co., Ltd.; Yanhong Li; and Beijing Baidu Netcom Science Technology Co., Ltd.	  	January 18, 2017
				
	2	  	Proxy Agreement	  	Baidu Online Network Technology (Beijing) Co., Ltd.; Yanhong Li; and Hailong Xiang	  	June 13, 2016
				
	3	  	Amended and Restated Loan Agreement	  	Baidu Online Network Technology (Beijing) Co., Ltd. and Yanhong Li	  	January 18, 2017
				
	4	  	Power of Attorney	  	Yanhong Li	  	June 13, 2016
				
	5	  	Amended and Restated Exclusive Equity Purchase and Transfer Option Agreement	  	Baidu Online Network Technology (Beijing) Co., Ltd.; Hailong Xiang; and Beijing Baidu Netcom Science Technology Co., Ltd.	  	January 18, 2017
				
	6	  	Amended and Restated Loan Agreement	  	Baidu Online Network Technology (Beijing) Co., Ltd. and Hailong Xiang	  	January 18, 2017
				
	7	  	Power of Attorney	  	Hailong Xiang	  	June 13, 2016

 Exhibit 2 

List of New Control Documents 
  

					
	 No.
	  	 Document Name
	  	 To be signed by

	1	  	Exclusive Equity Purchase and Transfer Option Agreement	  	Baidu, Inc.; Baidu Online Network Technology (Beijing) Co., Ltd.; Yanhong Li; and Beijing Baidu Netcom Science Technology Co., Ltd.
			
	2	  	Loan Agreement	  	Baidu Online Network Technology (Beijing) Co., Ltd. and Yanhong Li
			
	3	  	Proxy Agreement	  	Baidu, Inc. and Yanhong Li
			
	4	  	Power of Attorney	  	Yanhong Li
			
	5	  	Exclusive Equity Purchase and Transfer Option Agreement	  	Baidu, Inc.; Baidu Online Network Technology (Beijing) Co., Ltd.; Hailong Xiang; and Beijing Baidu Netcom Science Technology Co., Ltd.
			
	6	  	Loan Agreement	  	Baidu Online Network Technology (Beijing) Co., Ltd. and Hailong Xiang
			
	7	  	Proxy Agreement	  	Baidu, Inc. and Hailong Xiang
			
	8	  	Power of Attorney	  	Hailong XiangEX-4.58

 Exhibit 4.58 

Amended and Restated Loan Agreement 
 This
Amended and Restated Loan Agreement (this “Agreement”) is made as of May 7, 2018 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: Hailong Xiang 

 ID Card No. 
 WHEREAS: 

 

	 	1.	 Party A is a wholly foreign-owned enterprise incorporated under the laws of the People’s Republic of China
(the “PRC”); 

  

	 	2.	 Party B is a Chinese citizen holding 0.5% equity interests in Beijing Baidu Netcom Science Technology Co., Ltd.
(“Baidu Netcom”); and 

  

	 	3.	 Party A and Party B have entered into an Loan Agreement dated March 31, 2018 (the “Original Loan
Agreement”), under which Party A lent a loan equal to RMB10,856,400 to Party B for payment of the price of its acquiring 0.5% equity interests in Baidu Netcom. Party A and Party B intend to enter into this Agreement to replace the Original
Loan Agreement and set forth their respective new rights and obligations. 

 NOW, THEREFORE, Party A and Party B agree as follows
through negotiations: 
  

	 	1.	 Pursuant to the terms and subject to the conditions of this Agreement, Party A agrees to provide to Party B and
Party B agrees to accept, a loan at an aggregate amount of RMB32,106,400. 

  

	 	2.	 Party B confirms its receipt of the loan and has applied the loan in its entirety to pay the price for its
acquiring equity interests in Baidu Netcom. 

  

	 	3.	 The term of the loan under this Agreement shall commence on the day of receipt of the loan by Party B until the
10th anniversary of the date on which this Agreement is executed, which term is renewable upon agreement by the Parties in writing; provided, however, that the loan provided
hereunder could be accelerated for immediate repayment by Party B pursuant to this Agreement at the request of Party A in writing at any time during the term of the loan or any renewal thereof if: 

 

	 	(1)	 Party B resigns from or is dismissed by Party A or any affiliate of Party A; 

 

	 	(2)	 Party B is dead, without civil legal capacity or with limited civil legal capacity; 

 

	 	(3)	 Party B is found with criminal offense or involvement therein; 

	 	(4)	 A claim is raised against Party B by any third party for an amount exceeding RMB100,000; or

  

	 	(5)	 Subject to the laws of the PRC, Party A or any of its nominees may make investment in Baidu Netcom for
operation of value-added telecommunication services and other services, such as internet information services, and Baidu, Inc. or any of its nominees has elected to exercise its option by issuing a written notice to Party B to purchase the equity
interests in Baidu Netcom under the Amended and Restated Exclusive Equity Purchase and Transfer Option Agreement referenced in article 4 hereof. 

  

	 	4.	 It is agreed and acknowledged that, subject to and to the extent permitted by the laws of the PRC, Baidu, Inc.,
as the holding company of Party A, shall have the right but no obligation to purchase or nominate any other person (including any natural person, legal entity or other entity) to purchase all or any part of the equity interests in Baidu Netcom held
by Party B (the “Call Option”), provided that Baidu, Inc. shall issue a written notice to Party B to exercise the Call Option. Upon Baidu, Inc.’s issuance of such written notice, Party B shall, as requested and instructed by
Party A, immediately transfer all of its equity interests in Baidu Netcom to Baidu, Inc. or any of its nominees at the original investment price (the “Original Investment Price”) or any other price acceptable to Baidu, Inc. required
under applicable laws. It is agreed and acknowledged that upon exercising the Call Option by Baidu, Inc., if the lowest price of the equity interests permitted under applicable laws is higher than the Original Investment Price, the price payable by
Baidu, Inc. or any of its nominees shall be the lowest price permitted under applicable laws. The Parties agree to enter into an Amended and Restated Exclusive Equity Purchase and Transfer Option Agreement with respect to the foregoing in this
Article 4. 

  

	 	5.	 It is agreed and acknowledged that Party B shall repay the loan only as follows: upon its maturity and at the
request of Party A in writing, the loan provided hereunder shall be repaid by Party B (or any of its heirs, successors or assigns) with the proceeds from transfer of its equity interests in Baidu Netcom to Baidu, Inc. or any of its nominees to the
extent permitted under the PRC laws, or otherwise agreed by the Parties. 

  

	 	6.	 It is agreed and acknowledged that in connection with transfer of the equity interests by Party B to Baidu,
Inc. or any of its nominees upon maturity of the loan, if the proceeds from such transfer are legally required to or otherwise exceed the principal of the loan, Party B agrees to pay such excess amount, net of any individual income tax and other
taxes and fees payable by Party B, to Baidu, Inc. or any of its nominees at sole decision of Baidu, Inc. to the extent permissible by the law. 

  

	 	7.	 It is agreed and acknowledged that Party B shall not be deemed to have fulfilled its obligations under this
Agreement until: 

  
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	 	(1)	 it has transferred all of its equity interests in Baidu Netcom to Baidu, Inc. or any of its nominees; and

  

	 	(2)	 it has paid to Party A all of the proceeds from the equity interest transfer or the maximum amount thereof
permitted under applicable laws (including principal and the highest interest accrued thereupon permitted under applicable laws) as repayment of the loan. 

  

	 	8.	 To secure performance of its obligations under this Agreement, Party B agrees to pledge all of his equity
interests in Baidu Netcom to Party A (the “Equity Pledge”). It is acknowledged that an Amend and Restated Equity Pledge Agreement in respect of the foregoing in this Article 8 has been made as of [    ], 2018.

  

	 	9.	 As of the date hereof, Party A represents and warrants to Party B that: 

 

	 	(1)	 Party A is a wholly foreign-owned enterprise incorporated and validly existing under the laws of the 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 or any other organization document, and Party A has obtained all approvals and authorizations necessary and appropriate for its execution and performance of this Agreement; 

 

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

 

	 	(4)	 Execution and performance of this Agreement by Party A does not violate any law, regulation, approval,
authorization, notice or other governmental document by which it is bound or affected, or any agreement between Party A and any third party, or any covenant made by Party A to any third party; and 

 

	 	(5)	 This Agreement, once executed, shall constitute legal, valid obligations of Party A and enforceable against
Party A in accordance with its terms. 

  

	 	10.	 As of the date hereof until the end of this Agreement, Party B represents and warrants to Party A that:

  

	 	(1)	 Baidu Netcom is a limited liability company incorporated and validly existing under the laws of the PRC and
Party B is a legal holder of the equity interests in Baidu Netcom; 

  

	 	(2)	 Party B has the right to execute and perform this Agreement. The execution and performance by Party B of this
Agreement comply with the articles or any other organizational document of Baidu Netcom, and Party B has obtained all approvals and authorizations necessary and appropriate for its execution and performance of this Agreement; 

  
 3 

	 	(3)	 Execution and performance of this Agreement by Party B does not violate any law, regulation, approval,
authorization, notice or other governmental document by which it is bound or affected, or any agreement between Party B and any third party, or any covenant made by Party B to any third party; 

 

	 	(4)	 This Agreement, once executed, shall constitute legal, valid obligations of Party B and enforceable against
Party B in accordance with its terms; 

  

	 	(5)	 Party B has made all contributions required by law for its holding equity interests in Baidu Netcom;

  

	 	(6)	 Unless otherwise provided under the Amended and Restated Equity Pledge Agreement and the Amended and Restated
Exclusive Equity Purchase and Transfer Option Agreement, Party B does not create any mortgage, pledge or other security over its equity interests in Baidu Netcom, or make any offer to any third party to transfer its equity interests, or make any
promise as to any offer to purchase its equity interests from any third party, or execute any agreement with any third party to transfer its equity interests; 

 

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

  

	 	(8)	 Baidu Netcom has completed all necessary governmental approvals, licenses, registrations and filings.

  

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

 

	 	(1)	 not sell, transfer, pledge or otherwise dispose of its equity interests or other interests in Baidu Netcom, or
to allow creation of any other security interest thereupon without the prior written consent of Party A, except for the equity pledge or other right created for the benefit of Party A; 

 

	 	(2)	 not vote for, support or execute any shareholder resolutions at Baidu Netcom’s shareholder’s meetings
permitting sale, transfer, pledge or other disposal of any of its legal or beneficiary ownership of the equity interests in Baidu Netcom or creation of any other security interest thereupon without the prior written consent of Party A, except for
those made to Party A or any of its nominees; 

  

	 	(3)	 not vote for, support or execute any shareholder resolutions at Baidu Netcom’s shareholder meetings
permitting Baidu Netcom to merge or combine with, or 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 administrative proceeding
relating to the equity interests of Baidu Netcom; 

  
 4 

	 	(5)	 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 its ownership of equity interests in Baidu Netcom; 

 

	 	(6)	 refrain from any act and/or omission that may materially affect the assets, business and liabilities of Baidu
Netcom without the prior written consent of Party A; 

  

	 	(7)	 appoint any person nominated by Party A as executive director of Baidu Netcom, upon Party A’s request;

  

	 	(8)	 in connection with Party A’s exercise of the Call Option provided hereunder, transfer promptly and
unconditionally all equity interests in Baidu Netcom held by Party B to Party A and/or any of its nominees, to the extent and within the scope permissible under the laws of the PRC; 

 

	 	(9)	 not request Baidu Netcom to distribute dividends or profits to it; 

 

	 	(10)	 upon transfer of its equity interests in Baidu Netcom to Party A or any of its nominees, pay the entire
proceeds received by it from transfer of the equity interests to Party A as repayment of the loan or otherwise to the extent permitted under the laws of the PRC; and 

 

	 	(11)	 strictly comply with the terms of this Agreement, perform the obligations under this Agreement, and refrain
from any act or omission that could affect the validity and enforceability of this Agreement. 

  

	 	12.	 Party B undertakes that in its capacity of a shareholder of Baidu Netcom and during the term of this Agreement,
it shall procure Baidu Netcom: 

  

	 	(1)	 not to 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; 

  

	 	(2)	 to maintain its existence and handle matters prudently and affectively in accordance with good financial and
business rules and practices; 

  

	 	(3)	 not to sell, transfer, mortgage or otherwise dispose of, nor to permit the creation of any other security
interest on, any of its legal or beneficial interests in its assets, business or income without the prior written consent of Party A, at any time as of the date of this Agreement; 

 

	 	(4)	 not to incur, succeed, guarantee or permit the existence of any liabilities without the prior written consent
of Party A, except for any liabilities (i) arising from the ordinary or day-to-day course of business instead of through Party B; and (ii) disclosed to Party A
or approved by Party A in writing; 

  
 5 

	 	(5)	 to operate all businesses on a continued basis and maintain the value of its assets; 

 

	 	(6)	 not to execute any material contracts (for the purpose of this Section 12(6), a contract will be deemed
material if its value exceeds RMB500,000) without the prior written consent of Party A, other than those executed during the ordinary course of business; 

  

	 	(7)	 to provide all information regarding its operations and financial affairs at Party A’s request;

  

	 	(8)	 not to merge or combine with, acquire or invest in, any other person without the prior written consent of Party
A; 

  

	 	(9)	 not to distribute dividends to the shareholders without the prior written consent of Party A, and upon Party
A’s request, to promptly distribute all distributable profits to the shareholders. 

  

	 	(10)	 to promptly inform Party A of any pending or threatened litigation, arbitration or administrative proceeding
relating to its assets, business or revenue; 

  

	 	(11)	 to 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 its ownership of its assets; and 

  

	 	(12)	 to strictly comply with the terms of the Exclusive Technology Consulting and Services Agreement dated
March 1, 2004, the Exclusive Technology Consulting and Services Supplementary Agreement dated August 9, 2004, and the Exclusive Technology Consulting and Services Agreement dated March 22, 2005, each by Baidu Netcom and Party A
(collectively, the “Service Agreement”) and other agreements, duly perform its obligations thereunder, and refrain from any act or omission that could affect the validity and enforceability thereof. 

 

	 	13.	 This Agreement is binding upon, and inures the benefit of, each of the Parties and their respective heirs,
successors and permitted assigns. Without prior written consent of Party A, Party B shall not transfer, pledge or otherwise assign any of its rights, interests or obligations 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. 

  
 6 

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

  

	 	16.	 Arbitration 

  

	 	(1)	 Both Parties shall strive to resolve any dispute, conflicts, or claims arising from the interpretation or
performance (including any issue relating to the existence, validity and termination) of this Agreement through negotiations in good faith. If no resolution is made within thirty (30) days after one Party requests for such resolution, either
Party may submit such matter to China International Economic and Trade Arbitration Commission (the “CIETAC”) in accordance with its then-effect rules. The arbitration award shall be final and conclusive and binding upon the Parties.

  

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

 

	 	(3)	 The arbitration language shall be Chinese. 

 

	 	17.	 This Agreement shall be made as of the date of its execution, and the Parties agree and confirm that the terms
and conditions of this Agreement will become effective from the date when Party B receives the loan and expire on the date when each Party has completed its obligations hereunder. 

 

	 	18.	 Party B shall not terminate or revoke this Agreement under any circumstances unless (1) Party A is found
with gross negligence, fraud, or other material misconduct; or (2) Party A is in 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.

  

	 	20.	 This Agreement constitutes the entire agreements of the Parties with respect to the transaction herein and
supersedes all prior verbal discussions and written agreements between the Parties, including without limitation the Original Loan Agreement. The Original Loan Agreement shall terminate as of the date on which this Agreement becomes effective and
cease to have any effect upon the Parties. 

  

	 	21.	 This Agreement is severable. The invalidity or unenforceability of any term shall not affect the validity or
enforceability of the remainder of this Agreement. 

  

	 	22.	 Each Party shall strictly protect the confidentiality of any information regarding the other Party’s
business, operation, financial situation or other confidential information obtained under this Agreement or during the performance of this Agreement. 

  
 7 

	 	23.	 Any obligation that is accrued or becomes due prior to expiry or early termination of this Agreement shall
survive such expiry or early termination. Sections 15, 16, and 22 shall survive expiry or termination of this Agreement. 

  

	 	24.	 This Agreement shall be executed in two originals, and each Party shall hold one thereof. Both originals shall
have the same legal effect. 

 (No text below) 

  
 8 

 [Signature page only] 

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

			
	Baidu Online Network Technology (Beijing) Co., Ltd. (seal)
		
	Signature:	 	 /s/ Legal representative/authorized representative

 Party B: 
  

			
	Hailong Xiang
		
	Signature:	 	 /s/ Hailong Xiang

  
 9

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