Document:

Exhibit 4.19 

 

Option Agreement

 

The Option Agreement, dated as of August
4, 2015, is made by and among the following parties:

 

Party A:

Beijing Century TAL Education
Technology Co., Ltd., a wholly foreign owned enterprise duly established and validly existing under the laws of the People’s
Republic of China (“PRC”) with its legal address at Room 1702-03, Lantianhesheng Building, No.32, Zhongguancun
Street, Haidian District, Beijing.

 

Party B:

Bangxin Zhang, ID Card No.
321182198010012913

Yachao Liu, ID Card No. 211103198110152138

Yunfeng Bai, ID Card No. 360521198109240073

 

Party C:

Beijing Dididaojia Education
Technology Co., Ltd., a limited liability company duly established and validly existing under the PRC laws with its legal address
at Room 209, Tower 1, No. 2, the Second Shangdi Street, Haidian District, Beijing.

 

Through amiable negotiation, the Parties
stated above agree as follows concerning Party A purchasing the equity interests of Party C owned by Party B:

 

		1.	Purchase Option Right

 

		1.1	Party A has the right to demand Party B to transfer all or part of the equity interests (“Target
Equity Interests”) of Party C it owns at any time (“Purchase Right”), as the specific demand may be,
in the following circumstances, and Party B shall transfer Target Equity Interests to Party A or any third party designated by
Party A accordingly:

 

		(1)	Party A or any third party designated by Party A is allowed to own all or part of Target Equity
Interests under the laws and regulations of PRC; or

		(2)	In other circumstances where Party A deem appropriate or necessary.

 

The Purchase Right of Party A
under this Agreement is exclusive, unconditional and irrevocable.

 

		1.2	The Parties agree that Party A has the right to determine to exercise the Purchase Right in part
or in all to acquire part or all of Target Equity Interests. And the Parties further agree that the time, manner, quantity and
frequency of exercising such Purchase Right by Party A shall not be subject to any restrictions.

 

		1.3	The Parties agree that Party A may designate any third party to purchase part or all of Target
Equity Interests. Party B shall not reject to transfer Target Equity Interests to such third party unless such transfer is forbidden
by the PRC laws and regulations.

 

    1 

     

    

 

		1.4	Party B shall not transfer Target Equity Interests to any third party without the prior written
approval by Party A before Target Equity Interests is transferred under this Agreement to Party A or the designated third party.

 

		2.	Procedures

 

		2.1	While executing this Agreement, Party B hereby confirms that the form and contents of the Equity
Interest Transfer Agreement and the Approval Letter needed in the exercise of Purchase Right by Party A are the same as the Appendix
attached to this Agreement.

 

		2.2	In the event Party A decides to exercise its Purchase Right according to Article 1.1, it shall
give a written notice (the “Exercise Notice”, see the Appendix) to Party B, stating quantity or percentage of
the equity interests to be purchased and the name and identity of the purchaser. Party B and Party C shall provide all materials
and documents necessary for the transfer of Target Equity Interests, including the signing the Equity Interest Transfer Agreement
and Approval Letter the form of which are the same as the Appendix.

 

		2.3	Except for the Exercise Notice in Article 2.2, there are no other prerequisite or incidental conditions
or procedures for Party A to exercise its Purchase Right.

 

		2.4	Party B shall provide Party C with timely and necessary assistance for Party C to complete the
approving procedures (if required by law) with competent authorities and registration procedures of the equity interests transfer
with relevant Industrial and Commercial authorities according to the applicable PRC laws and regulations.

 

		2.5	The date of completion of the transfer of all Target Equity Interests is the date of completion
of exercise of the Purchase Right.

 

		3.	Purchase Price

 

		3.1	The whole price of Target Equity Interests shall be the lowest value as permitted by the PRC laws
and regulations at the time such Target Equity Interests being transferred. In the event Target Equity Interests is transferred
in installments, the price shall be determined according to the time and percentage of each separate time of transfer.

 

		3.2	Personal income tax and other relevant taxes or expenses incurred in the transfer of Target Equity
Interests shall be borne by Party C.

 

		3.3	With Party B’s unanimous consent, the purchase price obtained by Party B, based on the exercise
of Purchase Right by Party A or any third party designated by Party A, shall be transferred to Party C for free.

 

    2 

     

    

 

		4.	Warranties and Covenants 

 

		4.1	Each Party represents and warrants to other Parties as follows:

 

		(a)	It has full rights, capacity and authorization to execute this Agreement and bear all the obligations
and liabilities hereunder;

 

		(b)	It has gone through all necessary internal procedures for the execution of this Agreement and has
obtained all necessary internal and external authorization and approvals; and

 

		(c)	It will not breach any agreements or contracts binding upon its assets or itself by executing this
Agreement.

 

		4.2	Party B and Party C separately and collectively represent and warrant to Party A as follows:

 

		(a)	As of the date of the effectiveness of this Agreement, Party B legally owns the equity interests
of Party C, and has full, valid right of disposal of such equity interests. The registered capital of Party C has been fully contributed.
Except for the pledge under the Equity Interest Pledge Agreement and other rights consented by Party A in writing, the equity interests
of Party C owned by Party B is not subject to any pledge, mortgage, warranty or other rights or interests of, and is free of any
claims by any third party. No third party may demand Party C to distribute, issue, sell, transfer or exchange any of its equity
interests according to any purchase right, share exchange right, first right to refusal or other agreements.

 

		(b)	During the effective period of this Agreement, Party B shall not transfer, or create pledge, mortgage
or any other security interest over the equity interests of Party C without the prior written consent from Party A.

 

		(c)	Party B and Party C shall extend the operation period of Party C to the extent permitted by relevant
PRC laws and regulations, to make it equal to the approved operation period of Party A.

 

		5.	Appendix

 

Appendixes of this Agreement constitute
an integrated part of this Agreement and have equal legal binding effect as other sections of this Agreement.

 

		6.	Confidentiality 

 

This Agreement and all clauses
hereof belong to confidential information and shall not be disclosed to any third party except for relevant high-ranking officers,
directors, employees, agents or professional consultants. This clause shall not apply in the event parties hereto are required
by relevant laws or regulations to disclose information relating to this Agreement to any governmental authorities, the public
or the shareholders, or file this Agreement with relevant authorities for record.

 

    3 

     

    

 

This clause shall survive any
modification, dissolution or termination of this Agreement.

 

		7.	Liabilities for Breach of Agreement

 

In the event any party failed
to perform any of its obligations under this Agreement, or made any untrue or inaccurate representations or warranties, such party
shall be liable for all the losses of other parties for breach of this Agreement.

 

		8.	Force Majeure 

 

Force Majeure means any event
that cannot be anticipated at the time of the execution of the Agreement, and the occurrence of which cannot be avoided, controlled
or conquered by any party of the Agreement, including but not limited to earthquake, typhoon, flood, fire, boycott, war or rebellion,
etc..

 

The party suffering such Force
Majeure shall (i) notify the other parties by telegram, facsimile or other electronic means immediately after the occurrence of
such Force Majeure and shall provide written documents evidencing the occurrence of such Force Majeure within fifteen (15) business
days; (ii) in every instance, to the extent reasonable and lawful under the circumstances, use its best efforts to mitigate or
remove the effect of such Force Majeure with all reasonable dispatch, and continue its performance of the Agreement after such
effect is mitigated or removed. The parties of the Agreement shall determine through negotiation whether to terminate, partly terminate
or suspend the implementation of this Agreement according to the extent the Agreement is effected by such Force Majeure.

 

		9.	Miscellaneous 

 

		9.1	This Agreement and any related matters shall be governed by and construed in accordance with the
PRC laws. All disputes arising out of or in connection with this Agreement shall be conciliated friendly by and between the Parties.
When the disputes could not be solved by conciliation, such disputes shall be finally settled under the Rules of Arbitration of
the China International Economic and Trade Arbitration Commission by arbitrators appointed in accordance with rules currently effective
of such arbitration commission. The arbitration ruling shall be final. The place of arbitration shall be in Beijing. The Parties
hereto shall continue to perform its obligations and exercise its rights hereunder except for those in dispute.

 

		9.2	This Agreement becomes effective on the date of execution by all parties and terminates when Party
A purchased all Target Equity Interest according to the Agreement or the Agreement is terminated by mutual consent of the parties.

 

		9.3	The Agreement is executed in three (3) counterparts, and each of Party A, Party B and Party C holds
one counterpart.

 

		9.4	This Agreement together with its appendixes constitute the entire agreement among the parties hereto
and supersedes and renders of no force and effect all prior oral or written agreements, commitments and undertakings among the
parties with respect to the subject matter hereof.

 

		9.5	Any modification and supplement of this Agreement shall be made in a written form and shall only
become effective upon the signature by all the parties of the Agreement.

 

    4 

     

    

OPTION AGREEMENT

 

(THE SIGNATURE PAGE)

 

Party A: Beijing Century TAL Education
Technology Co., Ltd. (Seal) /Seal/

Authorized Representative:

 

 

Party B:

Bangxin Zhang:

Signature: /s/ Bangxin Zhang

 

Yachao Liu:

Signature: /s/ Yachao Liu

 

Yunfeng Bai:

Signature: /s/ Yunfeng Bai

 

 

Party C:

Beijing Dididaojia Education Technology
Co., Ltd. (Seal) /Seal/

Authorized Representative:

 

    5 

     

    

OPTION AGREEMENT

 

 

Appendix:

 

Equity Interest Transfer Agreement

 

This Equity Interest Transfer Agreement
(the “Agreement”), dated as of [ ], is made by and among the following parties in Beijing, China:

 

Transferor:

Bangxin Zhang, ID Card No. 321182198010012913

Yachao Liu, ID Card No. 211103198110152138

Yunfeng Bai, ID Card No. 360521198109240073

 

Transferee:

Beijing Century TAL Education Technology
Co., Ltd.

 

Through amiable negotiation the Parties
stated above agree as follows about the equity interest transfer stated herein:

 

		1.	Transferor agrees to transfer the 100% equity interest
of Beijing Dididaojia Education Technology Co., Ltd. it owns (“Target Equity Interests”) to Transferee at a
price of RMB  , and Transferee agrees to purchase such Target Equity Interests.

 

		2.	Upon completion of transfer of Target Equity Interests, Transferor shall no longer enjoy while
Transferee enjoys any rights and bear all obligations as the shareholder of Target Equity Interests.

 

		3.	Any matters not mentioned in the Agreement may be determined by supplementary agreements signed
by both parties.

 

		4.	The Agreement becomes effective on the date of signature by both parties.

 

		5.	The Agreement is executed in four (4) counterparts, each party holding one and the rest used for
Industrial and Commercial alteration registration.

 

Transferor:

	
        Bangxin Zhang:

        Signature: /s/ Bangxin Zhang
	
        Yunfeng Bai:

        Signature: /s/ Yunfeng Bai

	
        Yachao Liu:

        Signature: /s/ Yachao Liu
	 

 

Transferee: Beijing Century TAL
Education Technology Co., Ltd. (Seal) /Seal/

Authorized Representative:

 

    6 

     

    

OPTION AGREEMENT

 

Confirmation Letter

 

To: Beijing Century TAL Education Technology
Co., Ltd.

 

I, the shareholder of Beijing Dididaojia
Education Technology Co., Ltd. (the “Company”), hereby agree and confirm as follows:

 

		1.	I agree to accept all the terms and conditions of the Option Agreement entered by the Company and
Beijing Century TAL Education Technology Co., Ltd.(“WFOE”) on  , 2015, and waive my first right to refusal
to such equity interest when WFOE exercises its Purchase Right under such agreement. I will take all measures to assist WFOE on
the transfer procedures for such equity interest.

 

		2.	I agree to waive my first right to refusal when other shareholders of the Company transfers the
equity interest it owns to WFOE or any third party designated by WFOE.

 

		3.	In the event other shareholders of the Company transfers the equity interests it owns to WFOE or
any third party designated by WFOE, I will sign or provide necessary documents for the transfer procedures of such equity interests.

 

 

This Confirmation Letter becomes effective
on the date of signature.

 

 

	
        Bangxin Zhang:

        Signature: /s/ Bangxin Zhang
	
        Yunfeng Bai:

        Signature: /s/ Yunfeng Bai

         

         

	
        Yachao Liu:

        Signature: /s/ Yachao Liu
	 

 

 

Date: [ ]

 

    7 

     

    

OPTION AGREEMENT

 

Exercise Notice

 

To: Beijing Dididaojia Education Technology
Co., Ltd. (the “Company”)

 

In accordance with the Option Agreement entered
into by you and our company on  , 2015, in circumstances permitted by relevant PRC laws and regulations, you should transfer
your equity interests of the Company to our company or any other transferee designated by us according to our request.

 

Thus our company hereby sends you the Exercise
Notice as follows:

 

Our company hereby requests to exercise the
Purchase Right under the Option Agreement, that our company/ other transferee designated by us shall purchase your equity interests
of the Company which constitutes [ ] % of the registered capital of the Company (“Transferring Equity Interest”)
at a price of RMB [ ]. Please conduct all necessary procedures to transfer such Transferring Equity Interest to our company or
other transferee designated by us according to the terms and conditions of the Option Agreement after your receipt of this Notice.

 

	 	Beijing
    Century TAL Education Technology Co., Ltd. (Seal) /Seal/
	 	Authorized Representative:	 
	 	Name:	 
	 	Position:	 
	 	Date:	 

 

    8Exhibit 4.20

 

Equity Interest Pledge Agreement

 

This Equity Interest Pledge Agreement (“Agreement”)
is entered into as of the date of August 4, 2015 by and between the following parties:

 

Party A:

Beijing Century TAL Education
Technology Co., Ltd. (the original corporate name is “TAL Education Technology (Beijing) Co., Ltd”), a wholly foreign
owned enterprise duly established and validly existing under the laws of the People’s Republic of China (“PRC”)
with its legal address at Room 1702-03, Lantianhesheng Building, No.32, Zhongguancun Street, Haidian District, Beijing.

 

Party B:

Bangxin Zhang, ID Card No.
321182198010012913

Yachao Liu, ID Card No. 211103198110152138

Yunfeng Bai, ID Card No. 360521198109240073

 

Party C:

Beijing
Dididaojia Education Technology Co., Ltd., a limited liability company duly established and validly existing under the PRC laws
with its legal address at Room 209, Tower 1, No. 2, the Second Shangdi Street, Haidian District, Beijing.

 

(Each of Party A, Party B and Party C,
a “Party”, and collectively the “Parties”.)

 

WHEREAS,

 

		(1)	Party A, Party B, Party C and the subsidiary companies and schools of Party C (if any, the “Subsidiaries”,
which may be modified after the execution of this Agreement according to any changes of Party C’s investments) have already
executed the agreements listed in Appendix I (the “Main Agreements”);

 

		(2)	Party B collectively owns 100% of the equity interests of Party C, and Party B plans to pledge
the equity interest of Party C it owns to Party A unconditionally and irrevocably, as a security for the performance of the obligations
by Party C and the Subsidiaries under the Main Agreements, and Party A agrees to accept such security (the “Pledge”)

 

NOW THEREFORE, Party A, Party B and Party
C through mutual negotiations hereby enter into this Agreement based upon the following terms:

 

		1.	Pledge

 

Party B agrees
to pledge the equity interests of Party C it owns (the “Pledged Equity Interests”) to Party A unconditionally
and irrevocably, as a security for the performance of the obligations by Party B, Party C and the Subsidiaries under the Main Agreements.

 

    1 

     

    

 

		2.	Scope of Pledge

 

The Pledge
under this Agreement extends to all obligations of Party B, Party C and the Subsidiaries under the Main Agreements (including but
not limited to any amounts, penalties, damages, etc. payable but not paid to Party A), any fees for exercising the creditor’s
rights and the Pledge right, and any other related expenses.

 

		3.	Term of Pledge

 

The Pledge under this Agreement
shall be effective from the date of registration of the Pledge with competent Industrial and Commercial authorities to the date
on which the Main Agreements are completely performed, invalidated or terminated (the later date shall prevail). In the term of
Pledge, if Party B, Party C and the Subsidiaries fail to perform any of their obligations under the Main Agreements, or in case
of occurrence of any of the events provided in Article 6.1, Party A is entitled to dispose the Pledged Equity Interests in accordance
with the provisions of this Agreement.

 

		4.	Registration

 

		4.1	Party B and Party C promise to Party A that, Party B and Party C shall: (i) on the date of the
execution of the Agreement, record the Pledge under this Agreement on the Shareholders’ Book of Party C and hand the recorded
Shareholders’ Book to Party A for its keep; (ii) on the date of the execution of the Agreement, hand the Capital Contribution
Certificate of Party B issued by Party C to Party A for its keep; (iii) within ten (10) business days after the execution of this
Agreement or other practically shortest period, register the Pledged Equity Interests with relevant Industrial and Commercial authority
and obtain evidencing documents of such registration. Without limitation to any provision of this Agreement, during the effective
period of this Agreement the Shareholders’ Book of Party C shall always be in the custody of Party A or any agent designated
by Party A, unless any necessary registration or alteration procedures are required to be fulfilled in the operation of Party C
or the Subsidiaries.

 

		4.2	Party B and Party C further covenant that after the execution of this Agreement, Party B may make
capital increase to Party C with the prior consent of Party A provided that any capital increase by Party B to Party C constitutes
an integrated part of the Pledged Equity Interests of this Agreement. Party B and Party C shall make necessary modification to
the Shareholders’ Book and capital contribution of relevant companies and conduct the pledge registration procedures according
to Article 4.1.

 

		4.3	All fees and expenses related to this Agreement, including but not limited to registration fee,
cost, stamp tax or any other taxes, expenses shall be borne by Party C according to relevant laws and regulations.

 

    2 

     

    

 

		5.	Covenants and Warranties of Party B and Party C

 

Party B and
Party C hereby jointly and severally covenant and warrant to Party A as follows:

 

		5.1	Party B is the lawful owner of the Pledged Equity Interests and there exists no dispute or potential
dispute concerning the ownership of such equity interests. Party B has the right to dispose such equity interests or any part thereof
without any restrictions by any third party.

 

		5.2	Except for the Pledge provided hereunder, Party B has not established any other pledge or other
interests of any third party over the Pledged Equity Interests.

 

		5.3	Party B and Party C fully understand the contents of this Agreement and the execution of the Agreement
by Party B and Party C is based on true and free will. Party B and Party C have taken all necessary measures and obtained all necessary
internal authorization to execute and perform this Agreement, and signed all necessary documents to make sure the Pledge under
the Agreement is lawful and valid.

 

		5.4	During the effective period of this Agreement, Party B shall not transfer or assign the Pledged
Equity Interests, authorize any rights relating to the Pledged Equity Interests to any third party, or create or permit to be created
any security or other interests which may have an adverse effect on the rights or benefits of the Party A without prior written
consent of Party A.

 

		5.5	During the effective period of this Agreement, Party B and Party C shall abide by and implement
all relevant PRC laws and regulations concerning the pledge of rights, and in the event Party B and Party C receive any notice,
order or suggestion from competent authorities concerning the Pledged Equity Interests, Party B and Party C shall timely notify
and show Party A of such notice or order within five (5) business days upon receipt thereof.

 

		5.6	Party B and Party C shall not conduct or permit to be conducted anything that shall damage the
value of the Pledged Equity Interests or the Pledge right of Party A. Party B and Party C shall notice Party A of any events that
may influence the value of the Pledged Equity Interests or the Pledge right of Party A within five (5) business days after its
knowledge of such events. Party A shall not take any responsibility for the reduction of the value of the Pledged Equity Interests
on any condition, and Party B and Party C shall not request Party A for any recovery or demand.

 

    3 

     

    

 

		5.7	The Pledge under this Agreement shall remain fully effective during the effective period of the
Agreement, and shall not be influenced by liquidation, lost of capacity, change of organization or status, any capital offset among
the Parties or any other events.

 

		5.8	For the purpose of performance of this Agreement, Party A is entitled to dispose the Pledged Equity
Interests in accordance with the provision of this Agreement. Party A’s exercise of such right shall not be interrupted or
jeopardized by Party B and Party C, their successors or agents, or any other persons by way of legal proceedings.

 

		5.9	In order to ensure and consummate the security provided by this Agreement over the obligations
of Party B, Party C and the Subsidiaries under the Main Agreements, Party B and Party C shall faithfully sign and cause any third
party who is beneficially related to the Pledged Equity Interests to sign all certificates and agreements in connection with the
performance of the Agreement, and/or cause such third party to take any measures required by Party A and provide convenience to
Party A concerning the exercise of the Pledge right hereunder.

 

		5.10	In order to ensure the interests of Party A, Party B and Party C shall abide by and perform all
warranties, covenants, agreements, representations and conditions. In the event Party B and/or Party C failed to do so and resulted
in damages to Party A, Party B and/or Party C shall indemnify Party A for all of such damages and losses.

 

		6.	Events of Default and Exercise of the Pledge Right

 

		6.1	In case of any of the following events (“Events of Default”), Party A may require
Party B or Party C to perform all the obligations under this Agreement and the Pledge under the Agreement may be performed immediately:

		a)	Any warranties or representations made by Party B, Party C or the Subsidiaries in the Agreement
or the Main Agreements are inconsistent, incorrect, untrue or become untrue or incorrect; Party B, Party C or the Subsidiaries
fail to comply with all the obligations, covenants or warranties made by them under the Agreement or the Main Agreements; or

		b)	Any obligation of Party B, Party C or the Subsidiaries under the Agreement or the Main Agreements
is deemed to be illegal or invalid; or

		c)	Material breaches by Party B or Party C of its obligations hereunder.

 

		6.2	In case of any of the aforesaid Events of Default, Party A may exercise its Pledge right by purchasing,
designating any other party to purchase, auctioning, or selling the Pledged Equity Interests. Party A may exercise such Pledge
right without exercising any other security rights, or take any other measures or proceedings against Party B and/or Party C or
any other parties.

 

    4 

     

    

 

		6.3	Upon request by Party A, Party B and Party C shall take all the lawful and appropriate measures
to ensure the exercise of the Pledge right by Party A. For such purpose, Party B and Party C shall sign all appropriate documents
and materials, and take all proper measures requested by Party A.

 

		7.	Transfer or Assignment

 

		7.1	Party B and Party C have no right to transfer or assign the rights and obligations under this Agreement
without the prior written consent from Party A, except for the Option Agreement entered into by Party A and Party B.

 

		7.2	The Agreement shall be binding upon the Party B and its successors and be effective upon Party
A and its successors and assignees.

 

		7.3	Party A may transfer or assign all and any of its rights and obligations under the Main Agreements
to any person (natural or legal person) it designates. In this case, the assignee shall enjoy and undertake the same rights and
obligations herein of Party A as if the assignee is a party hereto. Upon Party A’s transfer or assignment of the rights and
obligations under the Main Agreements and at Party A’s request, Party B and/or Party C shall execute relevant agreements
and/or documents with respect to such transfer or assignment.

 

		7.4	Subsequent to an assignment or transfer by Party A, the new parties to the Pledge shall re-execute
a pledge contract. Party B and Party C shall provide assistance to the assignee with respect to the registration procedures of
the Pledge.

 

		8.	Confidentiality

 

This Agreement and all clauses
hereof belong to confidential information and shall not be disclosed to any third party except for relevant high-ranking officers,
directors, employees, agents or professional consultants. This clause shall not apply in the event parties hereto are required
by relevant laws or regulations to disclose information relating to this Agreement to any governmental authorities, the public
or the shareholders, or file this Agreement with relevant authorities for record.

 

This clause shall survive any
modification, dissolution or termination of this Agreement.

 

		9.	Liabilities for Breach of Agreement

 

In the event any Party failed
to perform any of its obligations under this Agreement, or made any untrue or inaccurate representations or warranties, such Party
shall be liable for all the losses of other Parties for breach of the Agreement.

 

    5 

     

    

 

		10.	Force Majeure 

 

Force Majeure means any event
that cannot be anticipated at the time of the execution of the Agreement, and the occurrence of which cannot be avoided, controlled
or conquered by any party of the Agreement, including but not limited to earthquake, typhoon, flood, fire, boycott, war or rebellion,
etc..

 

The Party suffering such Force
Majeure shall (i) notify the other parties by telegram, facsimile or other electronic means immediately after the occurrence of
such Force Majeure and shall provide written documents evidencing the occurrence of such Force Majeure within fifteen (15) business
days; (ii) in every instance, to the extent reasonable and lawful under the circumstances, use its best efforts to mitigate or
remove the effect of such Force Majeure with all reasonable dispatch, and continue its performance of the Agreement after such
effect is mitigated or removed. The Parties of the Agreement shall determine through negotiation whether to terminate, partly terminate
or suspend the implementation of this Agreement according to the extent the Agreement is effected by such Force Majeure.

 

 

		11.	Miscellaneous 

 

		11.1	This Agreement and any related matters shall be governed by and construed in accordance with the
PRC laws. All disputes arising out of or in connection with this Agreement shall be conciliated friendly by and between the Parties.
When the disputes could not be solved by conciliation, such disputes shall be finally settled under the Rules of Arbitration of
the China International Economic and Trade Arbitration Commission by arbitrators appointed in accordance with rules currently effective
of such arbitration commission. The arbitration ruling shall be final. The place of arbitration shall be in Beijing. The Parties
hereto shall continue to perform its obligations and exercise its rights hereunder except for those in dispute.

 

		11.2	This Agreement becomes effective on the date of execution by all Parties and terminates when all
the obligations under the Main Agreements are completely fulfilled or terminated for whatever reason.

 

		11.3	The Agreement is executed in four (4) counterparts, and each of Party A, Party B and Party C holds
one counterpart, the rest one shall be submitted to relevant Industrial and Commercial authorities for filing and registration.

 

		11.4	Any modification or supplement of this Agreement shall be made in a written form and shall only
become effective upon the signature by all Parties of the Agreement.

 

    6 

     

    

 

[THE SIGNATURE PAGE]

 

Party A: Beijing Century TAL Education
Technology Co., Ltd. (Seal) /Seal/

Authorized Representative:

 

 

Party B:

Bangxin Zhang:

Signature: /s/ Bangxin Zhang

 

Yachao Liu:

Signature: /s/ Yachao Liu

 

Yunfeng Bai:

Signature: /s/ Yunfeng Bai

 

 

Party C:

Beijing Dididaojia Education Technology
Co., Ltd. (Seal) /Seal/

Authorized Representative:

 

    7 

     

    

 

AppendixI List of Main Agreements

 

Exclusive Business Cooperation Agreement

Option Agreement

 

    8

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