Document:

exv4w54

    Exhibit 4.54

 

    Baidu
    Promotion Agency Agreement

 

    Contract
    Number:          

 

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

 

    Legal representative: SHEN Haoyu

 

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

 

    Contact: SHI Youcai

 

    Telephone: 8610-59928222

 

    E-mail: shiyoucai@baidu.com

 

    Post code: 100085

 

    Bank: China Merchants Bank, Beijing Branch, Beisihuan
    Sub-branch

 

    Account number: 866180196910001

 

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

 

    Legal representative:  LIANG Zhixiang

 

    Address:  2/F, Baidu Building, 10 Shangdi
    10th Street, Haidian District, Beijing

 

    Contact:

 

    Telephone: 10-59928888

 

    E-mail:

 

    Post code: 100085

 

    Bank: China Merchants Bank, Shangdi
    Sub-branch

 

    Account number:  110902160610706

 

    (Party A and Party B, collectively, the “Parties”)

 

    This AGENCY AGREEMENT (this “Agreement”) is made by
    Party A and Party B, each being a company incorporated and
    existing under the laws of the People’s Republic of China.

 

    WHEREAS

 

    1. Party B is authorized by Party A to manage Party
    A’s advertising agents in Beijing for the purpose of
    promoting “Baidu Promotion” technical services
    (including existing Baidu Promotion and its derivative services,
    “Baidu Promotion”) for Party A.

 

    2. Party B agrees to conduct the promotion contemplated
    under Section 1 required by Party A.

 

    NOW, THEREFORE, the Parties agree and intend to be bound as
    follows:

 

    I, Scope and Term

 

    1. The agents will be designated by Party A in writing.
    Party A has the discretion to change the agents from time to
    time, provided that such change will be notified to Party B in
    writing no less than [  ] days in advance. Party
    B agrees to accept such agents designated by Party A.

 

    2. This Agreement has a term of twelve months, commencing
    on January 1, 2010 and ending on December 31, 2010.

 

    II. Rights and Obligations of Party A

 

    1. Party A will grant to Party B an “agent management
    account” in connection with Baidu Promotion, which account
    is owned by Party A. Party B may not use this management account
    if Party A withdraws its authorization granted to Party B under
    this Agreement.

 

    2. Party A authorizes Party B to conduct marketing
    activities as an agent for Baidu Promotion.

 

    III. Rights and Obligations of Party B

 

    1. Party B will provide user name and password to an
    account of “Baidu Promotion” to its subscriber that
    subscribes to this account through the marketing efforts of
    Party B. Party B will keep in confidence all information in and
    of this account and, if failing to do so, will be held liable
    for Party A and the client.

 

    2. Without written consent from the end subscriber, Party B
    may not change any information of the end subscriber, including
    without limitation any change of account information, submission
    or change of any key words, and change of bidding price.

 

    3. In connection with its activities promoting the products
    relating to “Baidu Promotion”, Party B will describe
    the products to clients according to the promotional materials
    provided by Party A. Without prior written consent from Party A,
    Party B may not use or distribute any other promotion materials.

 

    4. Party B will make good maintenance of all of its
    operation records relating to the products of Party A for a
    period no less than three years for inspection by or provision
    to Party A at the request of Party A. Upon expiration or
    termination of this Agreement, Party B will return all such
    operating records to Party A and may not keep any copy or
    duplicate thereof. Party B will grant access to its operating
    area as well as any materials including invoices for inspection
    by any person designated by Party A.

 

    IV. Performance Indicator

 

    1. During the term of this Agreement, the performance of
    marketing efforts of Party B for each quarter will be
    benchmarked on the performance indicators set forth under the
    Exhibit hereto, which indicators will be provided to Party B
    from Party A in writing within 15 business days upon quarterly
    end.

 

    2. Baidu Promotion Performance Indicator Percentage:

 

	 	 	 	 	 
	
    Performance indicator
	
 
	
    Definition of performance indicator
	
 
	
    Percentage

	

    Click consumption

	
 
	
    aggregate number of click consumption generated by all end-users
    during any given quarter
	
 
	
    100%

 

    V. Discount, Review, Reward and Penalty

 

    1. Party A will grant a certain discount to Party B, the
    details of which will be provided separately by Party A in
    writing. Party A may make changes to the discount from time to
    time provided it will notify Party B of such change no less than
    [  ] days in advance. Party B agrees to accept
    the discount provided by Party A.

 

    2. It is agreed by the Parties that Party A may set forth a
    system for performance review, reward and penalty under the
    notice described under the preceding paragraph. Party A may
    terminate this Agreement if Party B fails such review.

 

    VI. Extension

 

    1. Any Party may request extension of this Agreement in
    writing to the other Party within fifteen (15) prior to the
    expiration of this Agreement, which extension will be made in
    written agreement upon signatures of the Parties.

 

    VII. Confidentiality

 

    1. Each of the Parties will keep in confidence all written
    materials, product prices, agency policies and other business
    secrets relating to or under this Agreement, and may not
    disclose any of such material or information to any third party.
    If any Party fails to do so, the other Party may hold the
    failing Party for any loss as well as legal liabilities.

    

    2

 

    2. This confidentiality clause will survive invalidity,
    termination, expiration or unenforceability of this Agreement.

 

    3. Breach of this confidentiality clause by Party B will
    constitute its material breach under this Agreement, under which
    circumstance Party A may terminate the agency of Party B and the
    deposit provided by Party B will not be refundable. If such
    deposit is not sufficient to indemnify Party A for the losses
    incurred by it, Party B will be held liable for the portion of
    such losses exceeding the deposit.

 

    VIII. Disclaimer

 

    1. Party A will not be held liable if:

 

    1) the “Baidu Promotion” services fail to be
    successfully registered other than by willful or negligent act
    of Party A;

 

    2) Party B or any client introduced by Party B suffers any
    loss due to its own willful or negligent act;

 

    3) Baidu conducts any commissioning, upgrade, improvement,
    or service sampling upon Baidu Promotion, which has any effect
    upon Party B; or

 

    4) Party A fails to perform its obligations under this
    Agreement due to any force majeure event.

 

    2. If Party A has to indemnify Party B for any reason, such
    indemnification will be capped at the amount of the outstanding
    funds with Baidu Promotion account of the subscribers introduced
    by Party B during that year (excluding any discount provided by
    Party A to Party B).

 

    IX. Dispute Resolution

 

    1. Any dispute arising from or in connection with this
    Agreement will be resolved by the Parties through negotiations;
    if such negotiations fail, the Parties agree to submit the
    dispute to the jurisdiction of Beijing Haidian District
    People’s Court, being the court at the place where
    Baidu’s server is located, or its superior court.

 

    X. Effectiveness

 

    1. This Agreement is effective upon affixture of corporate
    or contract seals by the Parties. The rights and obligations of
    the Parties as of January 1, 2010 are bound by this
    Agreement. This Agreement is in two copies with each Party
    holding one copy. The Exhibit attached hereto is an integral
    part of and is equally authentic with this Agreement.

 

    2. Any matter not provided under this Agreement will be
    performed with reference to the Baidu Policies for Promoting
    Regional General Agency.

    

    3

 

	 	 	 
	

    Party A: Baidu Online Network

	
 
	
    Party B: Beijing Baidu Netcom

	

    Technology (Beijing) Co., Ltd. 

	
 
	
    Science and Technology Co., Ltd.

	
 
	
 
	
 

	

    Signature/seal: /s/  Haoyu
    Shen

	
 
	
    Signature/seal: /s/  Zhixiang
    Liang

	

    Date: January 1, 2010

	
 
	
    Date: January 1, 2010

    

    4Exhibit 10.1.1

EXHIBIT 10.1.1

AMENDMENT NO. 1

TO THE

GEORGIA-CAROLINA BANCSHARES, INC. 1997 STOCK OPTION PLAN

This AMENDMENT (this “Amendment”) to the Georgia-Carolina Bancshares, Inc. 1997 Stock Option
Plan (the “1997 Plan”) is effective as of July 28, 2008;

WHEREAS, the Board of Directors of the Corporation is authorized to amend the 1997 Plan
pursuant Section 10 of the 1997 Plan and has approved this Amendment by resolution.

NOW THEREFORE, the 1997 Plan is hereby amended as follows:

By deleting the language contained in subsection 8(d) of the 1997 Plan in its entirety and
replacing such language with the following:

Time and Method of Payment. The exercise price to acquire shares of Stock pursuant
to any Option shall be payable in full in any one or more of the following ways, as
shall be determined by the Board of Directors to be applicable to, and as set forth
in, any such Agreement:

(i) in cash; or

(ii) by tendering, either by actual delivery or by attestation, shares of Stock
(which have been owned by the Optionee for more than six months, which are free and
clear of all liens and other encumbrances) having an aggregate Market Price on the
date of exercise of the Option equal to the exercise price for the shares being
purchased; or

(iii) by requesting that the Corporation withhold such number of shares of
Stock then issuable upon exercise of the Option as shall have an aggregate Market
Price equal to the exercise price for the shares being acquired upon exercise of the
Option; or

(iv) by waiver of compensation due or accrued to the Optionee for services
rendered; or

(v) provided that a public market for the Stock exists:

(a) Through a “same day sale” commitment from the Optionee and a broker-dealer
that is a member of the National Association of Securities Dealers (an “NASD
Dealer”) whereby the Optionee irrevocably elects to exercise the Option and to sell
a portion of the shares so purchased to pay the purchase price (or a larger number
of the shares so purchased), and whereby the NASD Dealer irrevocably commits upon
receipt of such shares to forward the purchase price directly to the Corporation
(and any excess to the Optionee); or

(b) Through a “margin” commitment from the Optionee and an NASD Dealer whereby
the Optionee irrevocably elects to exercise the Option and to pledge the shares so
purchased to the NASD Dealer in a margin account as security for a loan from the
NASD Dealer in the amount of the purchase price, and whereby the NASD Dealer
irrevocably commits upon receipt of such shares to forward the purchase price
directly to the Corporation; or

(vi) by any combination of the foregoing; or

(vii) by such other method as may be determined by the Board of Directors and
set forth in the applicable Agreement.

Upon receipt of payment, the Corporation shall, without transfer or issue tax,
deliver to the Optionee (or other person entitled to exercise the Option) a
certificate or certificates for a number of shares of Stock underlying the Option
(or portion thereof being exercised) less any shares being forfeited to finance the
exercise of the Option.

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