On June 22, 2016, Ms. Carol Yu submitted her resignation from her positions as (i) a member of the board of directors of the Sohu.com Inc.'s majority-owned subsidiary Changyou.com Limited, effective June 24, 2016, and (ii) Co-Chief Executive Officer of Changyou, effective July 31, 2016. The board of directors of Changyou has appointed Mr. Dewen Chen, who is Co-Chief Executive Officer of Changyou, as a member of the board of directors of Changyou to fill the vacancy created by Ms. Yu's resignation.
Ms. Yu agrees not to compete with Changyou through July 31, 2017.